# EDGAR Filing Document

**Accession Number:** 0001727074
**File Stem:** 0001752724-23-012578
**Filing Date:** 2023-1
**Character Count:** 262246
**Document Hash:** cbb3b69c4a872ab8371422c0dc06379c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-012578.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001752724-23-012578

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PGIM ETF TRUST
- **CENTRAL INDEX KEY:** 0001727074
- **IRS NUMBER:** 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:** 23551990

**BUSINESS ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 17TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102
- **BUSINESS PHONE:** (973) 367-8982

**MAIL ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 17TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102

## Series and Classes Contracts Data

### PGIM Total Return Bond ETF (Series ID: S000074500)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000232454 | PGIM Total Return Bond ETF | PTRB            |

## Nport-Ex

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 99.2%** | **Long-Term Investments 99.2%** | **Long-Term Investments 99.2%** | **Long-Term Investments 99.2%** | **Long-Term Investments 99.2%** | **Long-Term Investments 99.2%** |
| **Asset-Backed Securities 20.7%** | **Asset-Backed Securities 20.7%** | **Asset-Backed Securities 20.7%** | **Asset-Backed Securities 20.7%** | **Asset-Backed Securities 20.7%** | **Asset-Backed Securities 20.7%** |
| **Automobiles 0.1%** | **Automobiles 0.1%** | **Automobiles 0.1%** | **Automobiles 0.1%** | **Automobiles 0.1%** | **Automobiles 0.1%** |
| Hertz Vehicle Financing III LLC,<br> Series 2022-01A, Class C, 144A | 2.630% | &nbsp;&nbsp;06/25/26 |  | 100 | &nbsp;&nbsp; $88396 |
| **Collateralized Loan Obligations 19.9%** | **Collateralized Loan Obligations 19.9%** | **Collateralized Loan Obligations 19.9%** | **Collateralized Loan Obligations 19.9%** | **Collateralized Loan Obligations 19.9%** | **Collateralized Loan Obligations 19.9%** |
| AlbaCore Euro CLO (Ireland),<br> Series 04A, Class B1, 144A, 3 Month EURIBOR + 2.600% (Cap N/A, Floor 2.600%) | 2.600(c) | &nbsp;&nbsp;07/15/35 | &nbsp;&nbsp;EUR | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501178 |
| Anchorage Capital CLO Ltd. (Cayman Islands),<br> Series 2022-25A, Class A1, 144A, 3 Month SOFR + 1.390% (Cap N/A, Floor 1.390%) | 5.353(c) | &nbsp;&nbsp;04/20/35 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485634 |
| Atlas Senior Loan Fund (Cayman Islands),<br> Series 2019-14A, Class AR, 144A | 0.000(cc) | &nbsp;&nbsp;07/20/32 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483547 |
| Avoca Capital CLO Ltd. (Ireland),<br> Series 10A, Class B1, 144A, 3 Month EURIBOR + 1.350% (Cap N/A, Floor 1.350%) | 2.728(c) | &nbsp;&nbsp;04/15/35 | &nbsp;&nbsp;EUR | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237552 |
| Bain Capital Credit CLO Ltd. (Cayman Islands),<br> Series 2022-01A, Class A1, 144A, 3 Month SOFR + 1.320% (Cap N/A, Floor 1.320%) | 5.249(c) | &nbsp;&nbsp;04/18/35 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239950 |
| Ballyrock CLO Ltd. (Cayman Islands),<br> Series 2020-02A, Class A1R, 144A, 3 Month LIBOR + 1.010% (Cap N/A, Floor 1.010%) | 5.253(c) | &nbsp;&nbsp;10/20/31 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245690 |
| Barings CLO Ltd. (Cayman Islands),<br> Series 2020-02A, Class AR, 144A, 3 Month LIBOR + 1.010% (Cap N/A, Floor 1.010%) | 5.089(c) | &nbsp;&nbsp;10/15/33 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244179 |
| Benefit Street Partners CLO Ltd. (Cayman Islands),<br> Series 2013-03A, Class A1R2, 144A, 3 Month LIBOR + 1.000% (Cap N/A, Floor 1.000%) | 5.243(c) | &nbsp;&nbsp;07/20/29 |  | 129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127492 |
| Carlyle CLO Ltd. (Cayman Islands),<br> Series C17A, Class A1AR, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 0.000%) | 5.445(c) | &nbsp;&nbsp;04/30/31 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245949 |
| Carlyle Global Market Strategies CLO Ltd. (Cayman Islands),<br> Series 2014-01A, Class A1R2, 144A, 3 Month LIBOR + 0.970% (Cap N/A, Floor 0.970%) | 5.049(c) | &nbsp;&nbsp;04/17/31 |  | 249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245002 |
| Carlyle US CLO Ltd. (Cayman Islands),<br> Series 2021-11A, Class A, 144A, 3 Month LIBOR + 1.095% (Cap N/A, Floor 1.095%) | 5.453(c) | &nbsp;&nbsp;01/25/33 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483722 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Cordatus CLO PLC (Ireland),<br> Series 23A, Class B1, 144A, 3 Month EURIBOR + 2.300% (Cap N/A, Floor 2.300%) | 3.843 %(c) | &nbsp;&nbsp;04/25/36 | &nbsp;&nbsp;EUR | 250 | &nbsp;&nbsp; $246275 |
| Crown City CLO (Cayman Islands),<br> Series 2020-02A, Class A1AR, 144A, 3 Month SOFR + 1.340% (Cap N/A, Floor 1.340%) | 5.303(c) | &nbsp;&nbsp;04/20/35 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242416 |
| Crown Point CLO Ltd. (Cayman Islands),<br> Series 2021-11A, Class A, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 1.120%) | 5.199(c) | &nbsp;&nbsp;01/17/34 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480012 |
| Elevation CLO Ltd. (Cayman Islands),<br> Series 2018-03A, Class A1R, 144A, 3 Month LIBOR + 1.210% (Cap N/A, Floor 1.210%) | 5.568(c) | &nbsp;&nbsp;01/25/35 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485206 |
| Generate CLO Ltd. (Cayman Islands),<br> Series 4A, Class A1R, 144A, 3 Month LIBOR + 1.090% (Cap N/A, Floor 0.000%) | 5.333(c) | &nbsp;&nbsp;04/20/32 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244598 |
| Greenwood Park CLO Ltd. (Cayman Islands),<br> Series 2018-01A, Class A2, 144A, 3 Month LIBOR + 1.010% (Cap N/A, Floor 0.000%) | 5.089(c) | &nbsp;&nbsp;04/15/31 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245949 |
| Grosvenor Place CLO DAC (Ireland),<br> Series 22-1A, Class A, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%) | 4.338(c) | &nbsp;&nbsp;11/24/35 | &nbsp;&nbsp;EUR | 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772646 |
| HPS Loan Management Ltd. (Cayman Islands),<br> Series 10A-16, Class A1RR, 144A, 3 Month LIBOR + 1.140% (Cap N/A, Floor 1.140%) | 5.383(c) | &nbsp;&nbsp;04/20/34 |  | 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290430 |
| ICG US CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-03A, Class A1RR, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 0.000%) | 5.388(c) | &nbsp;&nbsp;04/25/31 |  | 249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-02RA, Class A1, 144A, 3 Month LIBOR + 1.370% (Cap N/A, Floor 1.370%) | 5.449(c) | &nbsp;&nbsp;01/16/33 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243478 |
| KKR CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 11, Class AR, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%) | 5.259(c) | &nbsp;&nbsp;01/15/31 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247437 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 33A, Class A, 144A, 3 Month LIBOR + 1.170% (Cap N/A, Floor 1.170%) | 5.413(c) | &nbsp;&nbsp;07/20/34 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483123 |
| Madison Park Euro Funding (Ireland),<br> Series 14A, Class A1R, 144A, 3 Month EURIBOR + 0.800% (Cap N/A, Floor 0.800%) | 2.178(c) | &nbsp;&nbsp;07/15/32 | &nbsp;&nbsp;EUR | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252092 |
| OCP CLO Ltd. (Cayman Islands),<br> Series 2015-09A, Class A1R2, 144A, 3 Month SOFR + 1.250% (Cap N/A, Floor 1.250%) | 5.114(c) | &nbsp;&nbsp;01/15/33 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243269 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| OFSI BSL Ltd. (Cayman Islands),<br> Series 2022-11A, Class A1, 144A, 3 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 6.029 %(c) | &nbsp;&nbsp;07/18/31 |  | 500 | &nbsp;&nbsp; $495908 |
| OZLM Ltd. (Cayman Islands),<br> Series 2018-18A, Class A, 144A, 3 Month LIBOR + 1.020% (Cap N/A, Floor 1.020%) | 5.099(c) | &nbsp;&nbsp;04/15/31 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242745 |
| Palmer Square CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-01A, Class A2R4, 144A, 3 Month LIBOR + 1.700% (Cap N/A, Floor 1.700%) | 6.375(c) | &nbsp;&nbsp;05/21/34 |  | 465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442714 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-02A, Class A1A, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 0.000%) | 5.179(c) | &nbsp;&nbsp;07/16/31 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490856 |
| Palmer Square European CLO DAC (Ireland),<br> Series 22-2A, Class A1, 144A^ | &nbsp;&nbsp;—(p) | &nbsp;&nbsp;01/15/36 | &nbsp;&nbsp;EUR | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257549 |
| Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands),<br> Series 2019-02A, Class A1R, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%) | 5.259(c) | &nbsp;&nbsp;10/15/34 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482546 |
| Regatta Funding Ltd. (Cayman Islands),<br> Series 2021-04A, Class A1, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%) | 5.393(c) | &nbsp;&nbsp;01/20/35 |  | 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726262 |
| Rockford Tower CLO Ltd.,<br> Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | 4.328(c) | &nbsp;&nbsp;07/20/33 |  | 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737848 |
| TCW CLO Ltd. (Cayman Islands),<br> Series 2019-02A, Class A1R, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) | 5.243(c) | &nbsp;&nbsp;10/20/32 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243983 |
| Trinitas CLO Ltd. (Cayman Islands),<br> Series 2016-05A, Class ARR, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 1.030%) | 5.388(c) | &nbsp;&nbsp;10/25/28 |  | &nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46962 |
| Trinitas Euro CLO (Ireland),<br> Series 02A, Class CR, 144A, 3 Month EURIBOR + 3.750% (Cap N/A, Floor 3.750%) | 5.128(c) | &nbsp;&nbsp;04/15/35 | &nbsp;&nbsp;EUR | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500842 |
| TSTAT Ltd.,<br> Series 2022-01A, Class A1, 144A, 3 Month SOFR + 2.300% (Cap N/A, Floor 2.300%) | 4.854(c) | &nbsp;&nbsp;07/20/31 |  | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491312 |
| Venture CLO Ltd. (Cayman Islands),<br> Series 2021-43A, Class A1, 144A, 3 Month LIBOR + 1.240% (Cap N/A, Floor 1.240%) | 5.319(c) | &nbsp;&nbsp;04/15/34 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241192 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13663168 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Consumer Loans 0.7%** | **Consumer Loans 0.7%** | **Consumer Loans 0.7%** | **Consumer Loans 0.7%** | **Consumer Loans 0.7%** |
| Mariner Finance Issuance Trust,<br> Series 2020-AA, Class A, 144A | 2.190% | &nbsp;&nbsp;08/21/34 | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; $142555 |
| Oportun Funding XIV LLC,<br> Series 2021-A, Class C, 144A | 3.440 | &nbsp;&nbsp;03/08/28 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91041 |
| Oportun Issuance Trust,<br> Series 2022-02, Class A, 144A | 5.940 | &nbsp;&nbsp;10/09/29 | &nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154970 |
| Regional Management Issuance Trust,<br> Series 2022-01, Class A, 144A | 3.070 | &nbsp;&nbsp;03/15/32 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91139 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479705 |
| **Total Asset-Backed Securities<br> (cost $14,589,915)** | **Total Asset-Backed Securities<br> (cost $14,589,915)** | **Total Asset-Backed Securities<br> (cost $14,589,915)** | **Total Asset-Backed Securities<br> (cost $14,589,915)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14231269 |
| **Commercial Mortgage-Backed Securities 7.6%** | **Commercial Mortgage-Backed Securities 7.6%** | **Commercial Mortgage-Backed Securities 7.6%** | **Commercial Mortgage-Backed Securities 7.6%** | **Commercial Mortgage-Backed Securities 7.6%** |
| BANK, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-BN35, Class A4 | 2.031 | &nbsp;&nbsp;06/15/64 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396779 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-BN38, Class A4 | 2.275 | &nbsp;&nbsp;12/15/64 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200373 |
| Bank of America Merrill Lynch Commercial Mortgage Trust,<br> Series 2017-BNK03, Class XB, IO | 0.736(cc) | &nbsp;&nbsp;02/15/50 | 8410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185515 |
| Barclays Commercial Mortgage Securities Trust,<br> Series 2020-C07, Class XB, IO | 1.100(cc) | &nbsp;&nbsp;04/15/53 | 1019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60738 |
| Benchmark Mortgage Trust,<br> Series 2020-B19, Class A1 | 0.628 | &nbsp;&nbsp;09/15/53 | &nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373410 |
| BX Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-XL, Class F, 144A, 1 Month SOFR + 2.114% (Cap N/A, Floor 2.114%) | 5.909(c) | &nbsp;&nbsp;10/15/36 | &nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244732 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-XL, Class J, 144A, 1 Month SOFR + 2.764% (Cap N/A, Floor 2.764%) | 6.559(c) | &nbsp;&nbsp;10/15/36 | &nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320798 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CIP, Class E, 144A, 1 Month LIBOR + 2.820% (Cap N/A, Floor 2.820%) | 6.695(c) | &nbsp;&nbsp;12/15/38 | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137222 |
| BXP Trust,<br> Series 2021-601L, Class A, 144A | 2.618 | &nbsp;&nbsp;01/15/44 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194300 |
| Citigroup Commercial Mortgage Trust,<br> Series 2019-GC43, Class A3 | 2.782 | &nbsp;&nbsp;11/10/52 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430013 |
| Credit Suisse Mortgage Trust,<br> Series 2014-USA, Class A2, 144A | 3.953 | &nbsp;&nbsp;09/15/37 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225753 |
| CSAIL Commercial Mortgage Trust,<br> Series 2019-C16, Class A2 | 3.067 | &nbsp;&nbsp;06/15/52 | &nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203249 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| GS Mortgage Securities Corp. Trust,<br> Series 2021-IP, Class E, 144A, 1 Month LIBOR + 3.550% (Cap N/A, Floor 3.550%) | 7.425 %(c) | &nbsp;&nbsp;10/15/36 | &nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp; $169215 |
| GS Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-GSA03, Class A4 | 2.369 | &nbsp;&nbsp;12/15/54 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156202 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-GSA03, Class XB, IO | 0.747(cc) | &nbsp;&nbsp;12/15/54 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95934 |
| JPMorgan Chase Commercial Mortgage Securities<br> Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NYAH, Class F, 144A, 1 Month LIBOR + 2.190% (Cap N/A, Floor 2.190%) | 6.065(c) | &nbsp;&nbsp;06/15/38 | &nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348676 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NYAH, Class H, 144A, 1 Month LIBOR + 3.390% (Cap N/A, Floor 3.390%) | 7.265(c) | &nbsp;&nbsp;06/15/38 | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137770 |
| MHC Commercial Mortgage Trust,<br> Series 2021-MHC, Class F, 144A, 1 Month LIBOR + 2.601% (Cap N/A, Floor 2.601%) | 6.476(c) | &nbsp;&nbsp;04/15/38 | &nbsp;&nbsp;&nbsp;369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344890 |
| Morgan Stanley Capital I Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-L02, Class A3 | 3.806 | &nbsp;&nbsp;03/15/52 | &nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-HR08, Class A3 | 1.790 | &nbsp;&nbsp;07/15/53 | &nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290088 |
| One New York Plaza Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01NYP, Class AJ, 144A, 1 Month LIBOR + 1.250% (Cap N/A, Floor 1.250%) | 5.125(c) | &nbsp;&nbsp;01/15/36 | &nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01NYP, Class B, 144A, 1 Month LIBOR + 1.500% (Cap N/A, Floor 1.500%) | 5.375(c) | &nbsp;&nbsp;01/15/36 | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163160 |
| **Total Commercial Mortgage-Backed Securities<br> (cost $5,741,773)** | **Total Commercial Mortgage-Backed Securities<br> (cost $5,741,773)** | **Total Commercial Mortgage-Backed Securities<br> (cost $5,741,773)** | **Total Commercial Mortgage-Backed Securities<br> (cost $5,741,773)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5267840 |
| **Corporate Bonds 35.8%** | **Corporate Bonds 35.8%** | **Corporate Bonds 35.8%** | **Corporate Bonds 35.8%** | **Corporate Bonds 35.8%** |
| **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** |
| Boeing Co. (The),<br> Sr. Unsec'd. Notes | 3.900 | &nbsp;&nbsp;05/01/49 | &nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127991 |
| Bombardier, Inc. (Canada),<br> Sr. Unsec'd. Notes, 144A | 7.875 | &nbsp;&nbsp;04/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73609 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201600 |
| **Agriculture 0.6%** | **Agriculture 0.6%** | **Agriculture 0.6%** | **Agriculture 0.6%** | **Agriculture 0.6%** |
| Altria Group, Inc.,<br> Gtd. Notes | 2.450 | &nbsp;&nbsp;02/04/32 | &nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186159 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Agriculture (cont'd.)** | **Agriculture (cont'd.)** | **Agriculture (cont'd.)** | **Agriculture (cont'd.)** | **Agriculture (cont'd.)** |
| BAT International Finance PLC (United Kingdom), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.448% | &nbsp;&nbsp;03/16/28 | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp; $111190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.950 | &nbsp;&nbsp;06/15/25 | &nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101069 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398418 |
| **Airlines 0.2%** | **Airlines 0.2%** | **Airlines 0.2%** | **Airlines 0.2%** | **Airlines 0.2%** |
| Southwest Airlines Co.,<br> Sr. Unsec'd. Notes | 5.125 | &nbsp;&nbsp;06/15/27 | &nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141214 |
| **Apparel 0.1%** | **Apparel 0.1%** | **Apparel 0.1%** | **Apparel 0.1%** | **Apparel 0.1%** |
| Kontoor Brands, Inc.,<br> Gtd. Notes, 144A | 4.125 | &nbsp;&nbsp;11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41344 |
| **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** |
| Ford Motor Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;01/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37089 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.100 | &nbsp;&nbsp;08/19/32 | &nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244738 |
| Ford Motor Credit Co. LLC,<br> Sr. Unsec'd. Notes | 4.271 | &nbsp;&nbsp;01/09/27 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185390 |
| General Motors Co.,<br> Sr. Unsec'd. Notes | 6.250 | &nbsp;&nbsp;10/02/43 | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144680 |
| General Motors Financial Co., Inc.,<br> Sr. Unsec'd. Notes | 5.000 | &nbsp;&nbsp;04/09/27 | &nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176023 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787920 |
| **Banks 9.5%** | **Banks 9.5%** | **Banks 9.5%** | **Banks 9.5%** | **Banks 9.5%** |
| Bank of America Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series MM | 4.300(ff) | &nbsp;&nbsp;01/28/25(oo) | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108110 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, Series N | 2.651(ff) | &nbsp;&nbsp;03/11/32 | 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909569 |
| BNP Paribas SA (France),<br> Sr. Unsec'd. Notes, 144A | 1.323(ff) | &nbsp;&nbsp;01/13/27 | &nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360362 |
| Citigroup, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes | 3.875(ff) | &nbsp;&nbsp;02/18/26(oo) | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33419 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.666(ff) | &nbsp;&nbsp;01/29/31 | &nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823524 |
| Credit Suisse Group AG (Switzerland),<br> Sr. Unsec'd. Notes, 144A | 6.537(ff) | &nbsp;&nbsp;08/12/33 | &nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233436 |
| Deutsche Bank AG (Germany),<br> Sr. Unsec'd. Notes | 2.311(ff) | &nbsp;&nbsp;11/16/27 | &nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258770 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** |
| Goldman Sachs Group, Inc. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series V | 4.125 %(ff) | &nbsp;&nbsp;11/10/26(oo) | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; $44563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.223(ff) | &nbsp;&nbsp;05/01/29 | &nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689954 |
| JPMorgan Chase & Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series HH | 4.600(ff) | &nbsp;&nbsp;02/01/25(oo) | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110748 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.739(ff) | &nbsp;&nbsp;10/15/30 | 1210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027602 |
| Morgan Stanley, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.342(ff) | &nbsp;&nbsp;10/18/33 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26576 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN | 2.699(ff) | &nbsp;&nbsp;01/22/31 | &nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436772 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 2.943(ff) | &nbsp;&nbsp;01/21/33 | &nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sub. Notes, GMTN | 4.350 | &nbsp;&nbsp;09/08/26 | &nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190487 |
| Societe Generale SA (France),<br> Sr. Unsec'd. Notes, 144A | 2.797(ff) | &nbsp;&nbsp;01/19/28 | &nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169134 |
| UBS Group AG (Switzerland),<br> Sr. Unsec'd. Notes, 144A, SOFR + 1.580% | 5.706(c) | &nbsp;&nbsp;05/12/26 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199626 |
| Wells Fargo & Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 2.879(ff) | &nbsp;&nbsp;10/30/30 | &nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223845 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.808(ff) | &nbsp;&nbsp;07/25/28 | &nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288113 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6503411 |
| **Beverages 0.2%** | **Beverages 0.2%** | **Beverages 0.2%** | **Beverages 0.2%** | **Beverages 0.2%** |
| Anheuser-Busch InBev Finance, Inc. (Belgium), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.000 | &nbsp;&nbsp;01/17/43 | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105831 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.625 | &nbsp;&nbsp;02/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36388 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142219 |
| **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** |
| Amgen, Inc.,<br> Sr. Unsec'd. Notes | 4.875 | &nbsp;&nbsp;03/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77632 |
| **Building Materials 1.0%** | **Building Materials 1.0%** | **Building Materials 1.0%** | **Building Materials 1.0%** | **Building Materials 1.0%** |
| Fortune Brands Home & Security, Inc.,<br> Sr. Unsec'd. Notes | 3.250 | &nbsp;&nbsp;09/15/29 | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151013 |
| Griffon Corp.,<br> Gtd. Notes | 5.750 | &nbsp;&nbsp;03/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44645 |
| Masco Corp.,<br> Sr. Unsec'd. Notes | 3.500 | &nbsp;&nbsp;11/15/27 | &nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211611 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Building Materials (cont'd.)** | **Building Materials (cont'd.)** | **Building Materials (cont'd.)** | **Building Materials (cont'd.)** | **Building Materials (cont'd.)** | **Building Materials (cont'd.)** |
| Owens Corning,<br> Sr. Unsec'd. Notes | 3.875% | &nbsp;&nbsp;06/01/30 |  | 175 | &nbsp;&nbsp; $158079 |
| Smyrna Ready Mix Concrete LLC,<br> Sr. Sec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;11/01/28 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66746 |
| Standard Industries, Inc.,<br> Sr. Unsec'd. Notes, 144A | 4.375 | &nbsp;&nbsp;07/15/30 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61484 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693578 |
| **Chemicals 0.6%** | **Chemicals 0.6%** | **Chemicals 0.6%** | **Chemicals 0.6%** | **Chemicals 0.6%** | **Chemicals 0.6%** |
| CF Industries, Inc.,<br> Gtd. Notes | 5.150 | &nbsp;&nbsp;03/15/34 |  | 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124376 |
| Chemours Co. (The),<br> Gtd. Notes | 5.375 | &nbsp;&nbsp;05/15/27 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45461 |
| RPM International, Inc.,<br> Sr. Unsec'd. Notes | 2.950 | &nbsp;&nbsp;01/15/32 |  | &nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15956 |
| Sasol Financing USA LLC (South Africa),<br> Gtd. Notes | 5.875 | &nbsp;&nbsp;03/27/24 |  | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198010 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383803 |
| **Commercial Services 1.0%** | **Commercial Services 1.0%** | **Commercial Services 1.0%** | **Commercial Services 1.0%** | **Commercial Services 1.0%** | **Commercial Services 1.0%** |
| Allied Universal Holdco LLC/Allied Universal Finance Corp.,<br> Sr. Sec'd. Notes, 144A | 6.625 | &nbsp;&nbsp;07/15/26 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71274 |
| ERAC USA Finance LLC,<br> Gtd. Notes, 144A | 3.300 | &nbsp;&nbsp;12/01/26 |  | 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148562 |
| Herc Holdings, Inc.,<br> Gtd. Notes, 144A | 5.500 | &nbsp;&nbsp;07/15/27 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70149 |
| Metis Merger Sub LLC,<br> Sr. Unsec'd. Notes, 144A | 6.500 | &nbsp;&nbsp;05/15/29 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60989 |
| Nexi SpA (Italy),<br> Sr. Unsec'd. Notes | 2.125 | &nbsp;&nbsp;04/30/29 | &nbsp;&nbsp;EUR | 252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212892 |
| RELX Capital, Inc. (United Kingdom),<br> Gtd. Notes | 4.750 | &nbsp;&nbsp;05/20/32 |  | &nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29175 |
| Thomas Jefferson University,<br> Sec'd. Notes | 3.847 | &nbsp;&nbsp;11/01/57 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18373 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Commercial Services (cont'd.)** | **Commercial Services (cont'd.)** | **Commercial Services (cont'd.)** | **Commercial Services (cont'd.)** | **Commercial Services (cont'd.)** |
| United Rentals North America, Inc.,<br> Gtd. Notes | 3.750% | &nbsp;&nbsp;01/15/32 | &nbsp;&nbsp;50 | &nbsp;&nbsp; $41266 |
| Washington University (The),<br> Sr. Unsec'd. Notes | 4.349 | &nbsp;&nbsp;04/15/2122 | &nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63420 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716100 |
| **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** |
| H&E Equipment Services, Inc.,<br> Gtd. Notes, 144A | 3.875 | &nbsp;&nbsp;12/15/28 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43235 |
| **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** |
| Cantor Fitzgerald LP,<br> Sr. Unsec'd. Notes, 144A | 4.875 | &nbsp;&nbsp;05/01/24 | 165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161586 |
| Jefferies Financial Group, Inc.,<br> Sr. Unsec'd. Notes | 2.625 | &nbsp;&nbsp;10/15/31 | 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91101 |
| LFS Topco LLC,<br> Gtd. Notes, 144A | 5.875 | &nbsp;&nbsp;10/15/26 | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20308 |
| OneMain Finance Corp.,<br> Gtd. Notes | 6.875 | &nbsp;&nbsp;03/15/25 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48591 |
| Power Finance Corp. Ltd. (India),<br> Sr. Unsec'd. Notes, 144A, MTN | 6.150 | &nbsp;&nbsp;12/06/28 | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202398 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523984 |
| **Electric 1.4%** | **Electric 1.4%** | **Electric 1.4%** | **Electric 1.4%** | **Electric 1.4%** |
| Calpine Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 3.750 | &nbsp;&nbsp;03/01/31 | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;02/01/31 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43195 |
| Comision Federal de Electricidad (Mexico),<br> Gtd. Notes, 144A | 4.688 | &nbsp;&nbsp;05/15/29 | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174100 |
| Eskom Holdings SOC Ltd. (South Africa),<br> Sr. Unsec'd. Notes, 144A, MTN | 6.750 | &nbsp;&nbsp;08/06/23 | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 |
| NRG Energy, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.375 | &nbsp;&nbsp;02/15/29 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41755 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.875 | &nbsp;&nbsp;02/15/32 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40694 |
| Pacific Gas & Electric Co.,<br> First Mortgage | 4.500 | &nbsp;&nbsp;07/01/40 | 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87897 |
| Puget Energy, Inc.,<br> Sr. Sec'd. Notes | 4.224 | &nbsp;&nbsp;03/15/32 | 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129929 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** |
| Sempra Energy,<br> Jr. Sub. Notes | 4.125 %(ff) | &nbsp;&nbsp;04/01/52 | 120 | &nbsp;&nbsp; $93028 |
| Southern California Edison Co.,<br> First Mortgage | 3.450 | &nbsp;&nbsp;02/01/52 | &nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21967 |
| Southern Co. (The),<br> Jr. Sub. Notes | 5.113 | &nbsp;&nbsp;08/01/27 | &nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39884 |
| Vistra Corp.,<br> Jr. Sub. Notes, 144A | 7.000(ff) | &nbsp;&nbsp;12/15/26(oo) | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22450 |
| Vistra Operations Co. LLC,<br> Gtd. Notes, 144A | 4.375 | &nbsp;&nbsp;05/01/29 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44724 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996392 |
| **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** |
| Likewize Corp.,<br> Sr. Sec'd. Notes, 144A | 9.750 | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46106 |
| **Engineering & Construction 0.3%** | **Engineering & Construction 0.3%** | **Engineering & Construction 0.3%** | **Engineering & Construction 0.3%** | **Engineering & Construction 0.3%** |
| Mexico City Airport Trust (Mexico),<br> Sr. Sec'd. Notes, 144A | 4.250 | &nbsp;&nbsp;10/31/26 | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188250 |
| **Entertainment 0.5%** | **Entertainment 0.5%** | **Entertainment 0.5%** | **Entertainment 0.5%** | **Entertainment 0.5%** |
| Golden Entertainment, Inc.,<br> Sr. Unsec'd. Notes, 144A | 7.625 | &nbsp;&nbsp;04/15/26 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49462 |
| Penn Entertainment, Inc.,<br> Sr. Unsec'd. Notes, 144A | 4.125 | &nbsp;&nbsp;07/01/29 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41203 |
| Warnermedia Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.050 | &nbsp;&nbsp;03/15/42 | &nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.141 | &nbsp;&nbsp;03/15/52 | 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100682 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.391 | &nbsp;&nbsp;03/15/62 | &nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11597 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,<br> Sr. Unsec'd. Notes, 144A | 7.750 | &nbsp;&nbsp;04/15/25 | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100113 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378913 |
| **Foods 0.8%** | **Foods 0.8%** | **Foods 0.8%** | **Foods 0.8%** | **Foods 0.8%** |
| Albertson's Cos., Inc./Safeway, Inc./New Albertson's LP/Albertson's LLC,<br> Gtd. Notes, 144A | 3.500 | &nbsp;&nbsp;03/15/29 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41683 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Foods (cont'd.)** | **Foods (cont'd.)** | **Foods (cont'd.)** | **Foods (cont'd.)** | **Foods (cont'd.)** | **Foods (cont'd.)** |
| B&G Foods, Inc.,<br> Gtd. Notes | 5.250% | &nbsp;&nbsp;04/01/25 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp; $44148 |
| Bellis Finco PLC (United Kingdom),<br> Gtd. Notes | 4.000 | &nbsp;&nbsp;02/16/27 | &nbsp;&nbsp;GBP | 218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185323 |
| Chobani LLC/Chobani Finance Corp., Inc.,<br> Gtd. Notes, 144A | 7.500 | &nbsp;&nbsp;04/15/25 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24452 |
| JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.,<br> Gtd. Notes, 144A | 5.125 | &nbsp;&nbsp;02/01/28 |  | &nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43107 |
| Lamb Weston Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.125 | &nbsp;&nbsp;01/31/30 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22339 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.375 | &nbsp;&nbsp;01/31/32 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22131 |
| Market Bidco Finco PLC (United Kingdom),<br> Sr. Sec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;11/04/27 | &nbsp;&nbsp;GBP | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91559 |
| Pilgrim's Pride Corp.,<br> Gtd. Notes, 144A | 3.500 | &nbsp;&nbsp;03/01/32 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40435 |
| Post Holdings, Inc.,<br> Sr. Unsec'd. Notes, 144A | 4.500 | &nbsp;&nbsp;09/15/31 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63357 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578534 |
| **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** |
| Piedmont Natural Gas Co., Inc.,<br> Sr. Unsec'd. Notes | 5.050 | &nbsp;&nbsp;05/15/52 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68599 |
| **Healthcare-Products 0.3%** | **Healthcare-Products 0.3%** | **Healthcare-Products 0.3%** | **Healthcare-Products 0.3%** | **Healthcare-Products 0.3%** | **Healthcare-Products 0.3%** |
| Avantor Funding, Inc.,<br> Gtd. Notes | 3.875 | &nbsp;&nbsp;07/15/28 | &nbsp;&nbsp;EUR | 192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184518 |
| Medline Borrower LP, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 3.875 | &nbsp;&nbsp;04/01/29 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21490 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.250 | &nbsp;&nbsp;10/01/29 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20380 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226388 |
| **Healthcare-Services 1.3%** | **Healthcare-Services 1.3%** | **Healthcare-Services 1.3%** | **Healthcare-Services 1.3%** | **Healthcare-Services 1.3%** | **Healthcare-Services 1.3%** |
| DaVita, Inc.,<br> Gtd. Notes, 144A | 4.625 | &nbsp;&nbsp;06/01/30 |  | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121402 |
| Inova Health System Foundation,<br> Unsec'd. Notes | 4.068 | &nbsp;&nbsp;05/15/52 |  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209763 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Healthcare-Services (cont'd.)** | **Healthcare-Services (cont'd.)** | **Healthcare-Services (cont'd.)** | **Healthcare-Services (cont'd.)** | **Healthcare-Services (cont'd.)** |
| Legacy LifePoint Health LLC,<br> Sr. Sec'd. Notes, 144A | 4.375% | &nbsp;&nbsp;02/15/27 | &nbsp;&nbsp;75 | &nbsp;&nbsp; $62830 |
| Nationwide Children's Hospital, Inc.,<br> Unsec'd. Notes | 4.556 | &nbsp;&nbsp;11/01/52 | 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199716 |
| Presbyterian Healthcare Services,<br> Unsec'd. Notes | 4.875 | &nbsp;&nbsp;08/01/52 | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143552 |
| Queen's Health Systems (The),<br> Sec'd. Notes | 4.810 | &nbsp;&nbsp;07/01/52 | &nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84392 |
| Tenet Healthcare Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.125 | &nbsp;&nbsp;10/01/28 | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22052 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 6.125 | &nbsp;&nbsp;06/15/30 | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23698 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867405 |
| **Home Builders 0.5%** | **Home Builders 0.5%** | **Home Builders 0.5%** | **Home Builders 0.5%** | **Home Builders 0.5%** |
| Ashton Woods USA LLC/Ashton Woods Finance Co.,<br> Sr. Unsec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;08/01/29 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39342 |
| Beazer Homes USA, Inc.,<br> Gtd. Notes | 7.250 | &nbsp;&nbsp;10/15/29 | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66238 |
| Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada),<br> Gtd. Notes, 144A | 4.875 | &nbsp;&nbsp;02/15/30 | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59102 |
| Century Communities, Inc.,<br> Gtd. Notes | 6.750 | &nbsp;&nbsp;06/01/27 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48680 |
| Empire Communities Corp. (Canada),<br> Sr. Unsec'd. Notes, 144A | 7.000 | &nbsp;&nbsp;12/15/25 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44000 |
| Forestar Group, Inc.,<br> Gtd. Notes, 144A | 3.850 | &nbsp;&nbsp;05/15/26 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44808 |
| Shea Homes LP/Shea Homes Funding Corp.,<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;04/01/29 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41495 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343665 |
| **Housewares 0.1%** | **Housewares 0.1%** | **Housewares 0.1%** | **Housewares 0.1%** | **Housewares 0.1%** |
| Scotts Miracle-Gro Co. (The),<br> Gtd. Notes | 4.000 | &nbsp;&nbsp;04/01/31 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38353 |
| **Insurance 0.7%** | **Insurance 0.7%** | **Insurance 0.7%** | **Insurance 0.7%** | **Insurance 0.7%** |
| Corebridge Financial, Inc.,<br> Sr. Unsec'd. Notes, 144A | 4.400 | &nbsp;&nbsp;04/05/52 | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80608 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Insurance (cont'd.)** | **Insurance (cont'd.)** | **Insurance (cont'd.)** | **Insurance (cont'd.)** | **Insurance (cont'd.)** |
| Fairfax Financial Holdings Ltd. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.375% | &nbsp;&nbsp;03/03/31 | 115 | &nbsp;&nbsp; $93965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.625 | &nbsp;&nbsp;08/16/32 | 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126101 |
| Liberty Mutual Group, Inc.,<br> Gtd. Notes, 144A | 4.569 | &nbsp;&nbsp;02/01/29 | 165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154152 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454826 |
| **Internet 0.2%** | **Internet 0.2%** | **Internet 0.2%** | **Internet 0.2%** | **Internet 0.2%** |
| Gen Digital, Inc.,<br> Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;04/15/25 | 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122791 |
| **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** |
| Steel Dynamics, Inc.,<br> Sr. Unsec'd. Notes | 3.450 | &nbsp;&nbsp;04/15/30 | 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105755 |
| **Lodging 0.1%** | **Lodging 0.1%** | **Lodging 0.1%** | **Lodging 0.1%** | **Lodging 0.1%** |
| MGM Resorts International,<br> Gtd. Notes | 4.750 | &nbsp;&nbsp;10/15/28 | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66743 |
| **Machinery-Diversified 0.2%** | **Machinery-Diversified 0.2%** | **Machinery-Diversified 0.2%** | **Machinery-Diversified 0.2%** | **Machinery-Diversified 0.2%** |
| Westinghouse Air Brake Technologies Corp.,<br> Gtd. Notes | 4.950 | &nbsp;&nbsp;09/15/28 | 140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133535 |
| **Media 1.6%** | **Media 1.6%** | **Media 1.6%** | **Media 1.6%** | **Media 1.6%** |
| CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;05/01/32 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41286 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.000 | &nbsp;&nbsp;03/01/23 | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24886 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.250 | &nbsp;&nbsp;01/15/34 | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19466 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.500 | &nbsp;&nbsp;06/01/33 | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79366 |
| Charter Communications Operating LLC/Charter Communications Operating Capital,<br> Sr. Sec'd. Notes | 3.900 | &nbsp;&nbsp;06/01/52 | 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264708 |
| CSC Holdings LLC,<br> Gtd. Notes, 144A | 6.500 | &nbsp;&nbsp;02/01/29 | 400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364451 |
| Diamond Sports Group LLC/Diamond Sports Finance Co.,<br> Sec'd. Notes, 144A (original cost $39,000; purchased 08/30/2022)(f) | 5.375 | &nbsp;&nbsp;08/15/26 | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31126 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Media (cont'd.)** | **Media (cont'd.)** | **Media (cont'd.)** | **Media (cont'd.)** | **Media (cont'd.)** | **Media (cont'd.)** |
| DISH DBS Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.000% | &nbsp;&nbsp;03/15/23 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp; $74490 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.125 | &nbsp;&nbsp;06/01/29 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32886 |
| Virgin Media Secured Finance PLC (United Kingdom),<br> Sr. Sec'd. Notes | 4.250 | &nbsp;&nbsp;01/15/30 | &nbsp;&nbsp;GBP | 206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198112 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130777 |
| **Mining 0.9%** | **Mining 0.9%** | **Mining 0.9%** | **Mining 0.9%** | **Mining 0.9%** | **Mining 0.9%** |
| Freeport-McMoRan, Inc.,<br> Gtd. Notes | 5.400 | &nbsp;&nbsp;11/14/34 |  | 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127173 |
| Indonesia Asahan Aluminium Persero PT (Indonesia),<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;05/15/25 |  | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195522 |
| Kinross Gold Corp. (Canada),<br> Gtd. Notes | 4.500 | &nbsp;&nbsp;07/15/27 |  | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142461 |
| Newmont Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 2.250 | &nbsp;&nbsp;10/01/30 |  | 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 2.600 | &nbsp;&nbsp;07/15/32 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20084 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614840 |
| **Miscellaneous Manufacturing 0.1%** | **Miscellaneous Manufacturing 0.1%** | **Miscellaneous Manufacturing 0.1%** | **Miscellaneous Manufacturing 0.1%** | **Miscellaneous Manufacturing 0.1%** | **Miscellaneous Manufacturing 0.1%** |
| Teledyne Technologies, Inc.,<br> Gtd. Notes | 2.750 | &nbsp;&nbsp;04/01/31 |  | 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94856 |
| **Office/Business Equipment 0.2%** | **Office/Business Equipment 0.2%** | **Office/Business Equipment 0.2%** | **Office/Business Equipment 0.2%** | **Office/Business Equipment 0.2%** | **Office/Business Equipment 0.2%** |
| CDW LLC/CDW Finance Corp.,<br> Gtd. Notes | 2.670 | &nbsp;&nbsp;12/01/26 |  | 140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124523 |
| **Oil & Gas 2.5%** | **Oil & Gas 2.5%** | **Oil & Gas 2.5%** | **Oil & Gas 2.5%** | **Oil & Gas 2.5%** | **Oil & Gas 2.5%** |
| Aker BP ASA (Norway), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 2.000 | &nbsp;&nbsp;07/15/26 |  | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.100 | &nbsp;&nbsp;07/15/31 |  | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164436 |
| Cenovus Energy, Inc. (Canada),<br> Sr. Unsec'd. Notes | 3.750 | &nbsp;&nbsp;02/15/52 |  | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71571 |
| Chesapeake Energy Corp.,<br> Gtd. Notes, 144A | 5.875 | &nbsp;&nbsp;02/01/29 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47995 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** |
| Devon Energy Corp.,<br> Sr. Unsec'd. Notes | 5.875% | &nbsp;&nbsp;06/15/28 |  | &nbsp;&nbsp;95 | &nbsp;&nbsp; $95179 |
| Ecopetrol SA (Colombia),<br> Sr. Unsec'd. Notes | 6.875 | &nbsp;&nbsp;04/29/30 |  | &nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26820 |
| Endeavor Energy Resources LP/EER Finance, Inc.,<br> Sr. Unsec'd. Notes, 144A | 5.750 | &nbsp;&nbsp;01/30/28 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73811 |
| Energean Israel Finance Ltd. (Israel), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.500 | &nbsp;&nbsp;03/30/24 |  | &nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28988 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.875 | &nbsp;&nbsp;03/30/26 |  | &nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 5.375 | &nbsp;&nbsp;03/30/28 |  | &nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36600 |
| Helmerich & Payne, Inc.,<br> Sr. Unsec'd. Notes | 2.900 | &nbsp;&nbsp;09/29/31 |  | &nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53673 |
| Hilcorp Energy I LP/Hilcorp Finance Co., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;04/15/30 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.250 | &nbsp;&nbsp;04/15/32 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22928 |
| Petroleos Mexicanos (Mexico), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.750 | &nbsp;&nbsp;02/26/29 | &nbsp;&nbsp;EUR | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83560 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.350 | &nbsp;&nbsp;02/12/28 |  | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83125 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 6.500 | &nbsp;&nbsp;03/13/27 |  | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180320 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 6.500 | &nbsp;&nbsp;01/23/29 |  | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83850 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, EMTN | 4.875 | &nbsp;&nbsp;02/21/28 | &nbsp;&nbsp;EUR | 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113152 |
| Pioneer Natural Resources Co.,<br> Sr. Unsec'd. Notes | 2.150 | &nbsp;&nbsp;01/15/31 |  | 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100925 |
| Var Energi ASA (Norway),<br> Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;05/18/27 |  | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190667 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1739450 |
| **Packaging & Containers 0.4%** | **Packaging & Containers 0.4%** | **Packaging & Containers 0.4%** | **Packaging & Containers 0.4%** | **Packaging & Containers 0.4%** | **Packaging & Containers 0.4%** |
| AptarGroup, Inc.,<br> Sr. Unsec'd. Notes | 3.600 | &nbsp;&nbsp;03/15/32 |  | 140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117669 |
| Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.,<br> Sr. Sec'd. Notes, 144A | 4.375 | &nbsp;&nbsp;10/15/28 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43457 |
| Verallia SA (France),<br> Gtd. Notes | 1.625 | &nbsp;&nbsp;05/14/28 | &nbsp;&nbsp;EUR | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90786 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251912 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Pharmaceuticals 1.2%** | **Pharmaceuticals 1.2%** | **Pharmaceuticals 1.2%** | **Pharmaceuticals 1.2%** | **Pharmaceuticals 1.2%** |
| AbbVie, Inc.,<br> Sr. Unsec'd. Notes | 4.050% | &nbsp;&nbsp;11/21/39 | 265 | &nbsp;&nbsp; $231526 |
| Bausch Health Cos., Inc.,<br> Gtd. Notes, 144A | 6.250 | &nbsp;&nbsp;02/15/29 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21250 |
| Cigna Corp.,<br> Sr. Unsec'd. Notes | 3.200 | &nbsp;&nbsp;03/15/40 | 235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182563 |
| CVS Health Corp.,<br> Sr. Unsec'd. Notes | 2.700 | &nbsp;&nbsp;08/21/40 | 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91306 |
| Merck & Co., Inc.,<br> Sr. Unsec'd. Notes | 2.900 | &nbsp;&nbsp;12/10/61 | &nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36732 |
| Shire Acquisitions Investments Ireland DAC,<br> Gtd. Notes | 3.200 | &nbsp;&nbsp;09/23/26 | 225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211051 |
| Viatris, Inc.,<br> Gtd. Notes | 3.850 | &nbsp;&nbsp;06/22/40 | 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86429 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860857 |
| **Pipelines 1.9%** | **Pipelines 1.9%** | **Pipelines 1.9%** | **Pipelines 1.9%** | **Pipelines 1.9%** |
| Antero Midstream Partners LP/Antero Midstream Finance Corp.,<br> Gtd. Notes, 144A | 7.875 | &nbsp;&nbsp;05/15/26 | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76927 |
| Energy Transfer LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series G | 7.125(ff) | &nbsp;&nbsp;05/15/30(oo) | &nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71609 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.400 | &nbsp;&nbsp;10/01/47 | 285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246432 |
| EQM Midstream Partners LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;06/01/27 | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25235 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;06/01/30 | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25233 |
| Kinder Morgan, Inc.,<br> Gtd. Notes | 5.450 | &nbsp;&nbsp;08/01/52 | 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123263 |
| MPLX LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.950 | &nbsp;&nbsp;03/14/52 | &nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.200 | &nbsp;&nbsp;03/01/47 | 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91122 |
| ONEOK, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.450 | &nbsp;&nbsp;09/01/49 | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.200 | &nbsp;&nbsp;07/15/48 | &nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55473 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.,<br> Gtd. Notes, 144A | 5.500 | &nbsp;&nbsp;01/15/28 | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68098 |
| Targa Resources Corp.,<br> Gtd. Notes | 4.200 | &nbsp;&nbsp;02/01/33 | &nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35068 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Pipelines (cont'd.)** | **Pipelines (cont'd.)** | **Pipelines (cont'd.)** | **Pipelines (cont'd.)** | **Pipelines (cont'd.)** |
| Williams Cos., Inc. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.600% | &nbsp;&nbsp;03/15/31 | 215 | &nbsp;&nbsp; $177140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.300 | &nbsp;&nbsp;08/15/52 | 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133157 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288670 |
| **Real Estate 0.1%** | **Real Estate 0.1%** | **Real Estate 0.1%** | **Real Estate 0.1%** | **Real Estate 0.1%** |
| Greystar Real Estate Partners LLC,<br> Sr. Sec'd. Notes, 144A | 5.750 | &nbsp;&nbsp;12/01/25 | &nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29143 |
| Howard Hughes Corp. (The),<br> Gtd. Notes, 144A | 4.375 | &nbsp;&nbsp;02/01/31 | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41054 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70197 |
| **Real Estate Investment Trusts (REITs) 2.5%** | **Real Estate Investment Trusts (REITs) 2.5%** | **Real Estate Investment Trusts (REITs) 2.5%** | **Real Estate Investment Trusts (REITs) 2.5%** | **Real Estate Investment Trusts (REITs) 2.5%** |
| Brixmor Operating Partnership LP,<br> Sr. Unsec'd. Notes | 4.050 | &nbsp;&nbsp;07/01/30 | 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127456 |
| Corporate Office Properties LP,<br> Gtd. Notes | 2.750 | &nbsp;&nbsp;04/15/31 | 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87222 |
| Diversified Healthcare Trust,<br> Gtd. Notes | 4.375 | &nbsp;&nbsp;03/01/31 | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52271 |
| Extra Space Storage LP,<br> Gtd. Notes | 3.900 | &nbsp;&nbsp;04/01/29 | 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121864 |
| GLP Capital LP/GLP Financing II, Inc.,<br> Gtd. Notes | 3.250 | &nbsp;&nbsp;01/15/32 | &nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43785 |
| Kimco Realty Corp.,<br> Sr. Unsec'd. Notes | 4.600 | &nbsp;&nbsp;02/01/33 | &nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84265 |
| MPT Operating Partnership LP/MPT Finance Corp.,<br> Gtd. Notes | 5.000 | &nbsp;&nbsp;10/15/27 | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127972 |
| Spirit Realty LP,<br> Gtd. Notes | 2.700 | &nbsp;&nbsp;02/15/32 | 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100615 |
| Sun Communities Operating LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 2.300 | &nbsp;&nbsp;11/01/28 | 155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128827 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.200 | &nbsp;&nbsp;04/15/32 | &nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69218 |
| Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC,<br> Sr. Sec'd. Notes, 144A | 7.875 | &nbsp;&nbsp;02/15/25 | 575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579092 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** |
| VICI Properties LP,<br> Sr. Unsec'd. Notes | 4.750% | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;60 | &nbsp;&nbsp; $57092 |
| Welltower, Inc.,<br> Sr. Unsec'd. Notes | 4.250 | &nbsp;&nbsp;04/15/28 |  | 175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165728 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745407 |
| **Retail 0.7%** | **Retail 0.7%** | **Retail 0.7%** | **Retail 0.7%** | **Retail 0.7%** | **Retail 0.7%** |
| 1011778 BC ULC/New Red Finance, Inc. (Canada),<br> Sr. Sec'd. Notes, 144A | 3.500 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21312 |
| eG Global Finance PLC (United Kingdom),<br> Sr. Sec'd. Notes | 6.250 | &nbsp;&nbsp;10/30/25 | &nbsp;&nbsp;EUR | 231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209642 |
| Gap, Inc. (The),<br> Gtd. Notes, 144A | 3.875 | &nbsp;&nbsp;10/01/31 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37745 |
| O'Reilly Automotive, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.200 | &nbsp;&nbsp;04/01/30 |  | &nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33184 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.700 | &nbsp;&nbsp;06/15/32 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48877 |
| Sally Holdings LLC/Sally Capital, Inc.,<br> Gtd. Notes | 5.625 | &nbsp;&nbsp;12/01/25 |  | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71815 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp.,<br> Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;06/01/31 |  | &nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42900 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465475 |
| **Semiconductors 0.2%** | **Semiconductors 0.2%** | **Semiconductors 0.2%** | **Semiconductors 0.2%** | **Semiconductors 0.2%** | **Semiconductors 0.2%** |
| Broadcom, Inc.,<br> Sr. Unsec'd. Notes, 144A | 3.137 | &nbsp;&nbsp;11/15/35 |  | 205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152160 |
| **Telecommunications 1.1%** | **Telecommunications 1.1%** | **Telecommunications 1.1%** | **Telecommunications 1.1%** | **Telecommunications 1.1%** | **Telecommunications 1.1%** |
| AT&T, Inc.,<br> Sr. Unsec'd. Notes | 3.550 | &nbsp;&nbsp;09/15/55 |  | 275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193138 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** |
| T-Mobile USA, Inc.,<br> Sr. Unsec'd. Notes | 2.550% | &nbsp;&nbsp;02/15/31 | 450 | &nbsp;&nbsp; $372242 |
| Verizon Communications, Inc.,<br> Sr. Unsec'd. Notes | 4.016 | &nbsp;&nbsp;12/03/29 | 235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221762 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787142 |
| **Total Corporate Bonds<br> (cost $27,677,146)** | **Total Corporate Bonds<br> (cost $27,677,146)** | **Total Corporate Bonds<br> (cost $27,677,146)** | **Total Corporate Bonds<br> (cost $27,677,146)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24596979 |
| **Municipal Bonds 0.3%** | **Municipal Bonds 0.3%** | **Municipal Bonds 0.3%** | **Municipal Bonds 0.3%** | **Municipal Bonds 0.3%** |
| **Michigan 0.2%** | **Michigan 0.2%** | **Michigan 0.2%** | **Michigan 0.2%** | **Michigan 0.2%** |
| Michigan State University,<br> Taxable, Revenue Bonds, Series A | 4.165 | &nbsp;&nbsp;08/15/2122 | &nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33104 |
| University of Michigan,<br> Taxable, Revenue Bonds, Series A | 4.454 | &nbsp;&nbsp;04/01/2122 | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81141 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114245 |
| **Minnesota 0.1%** | **Minnesota 0.1%** | **Minnesota 0.1%** | **Minnesota 0.1%** | **Minnesota 0.1%** |
| University of Minnesota,<br> Taxable, Revenue Bonds | 4.048 | &nbsp;&nbsp;04/01/52 | &nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82259 |
| **Total Municipal Bonds<br> (cost $240,000)** | **Total Municipal Bonds<br> (cost $240,000)** | **Total Municipal Bonds<br> (cost $240,000)** | **Total Municipal Bonds<br> (cost $240,000)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196504 |
| **Residential Mortgage-Backed Securities 1.5%** | **Residential Mortgage-Backed Securities 1.5%** | **Residential Mortgage-Backed Securities 1.5%** | **Residential Mortgage-Backed Securities 1.5%** | **Residential Mortgage-Backed Securities 1.5%** |
| Bellemeade Re Ltd.,<br> Series 2019-02A, Class M2, 144A, 1 Month LIBOR + 3.100% (Cap N/A, Floor 3.100%) | 7.144(c) | &nbsp;&nbsp;04/25/29 | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193068 |
| Citigroup Mortgage Loan Trust,<br> Series 2022-A, Class A1, 144A | 6.170 | &nbsp;&nbsp;09/25/62 | &nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95396 |
| Connecticut Avenue Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1B1, 144A, 30 Day Average SOFR + 6.250% (Cap N/A, Floor 0.000%) | 9.771(c) | &nbsp;&nbsp;03/25/42 | &nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15150 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1B1, 144A, 30 Day Average SOFR + 5.250% (Cap N/A, Floor 0.000%) | 8.771(c) | &nbsp;&nbsp;03/25/42 | &nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19425 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** |
| FHLMC Structured Agency Credit Risk REMIC Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DNA03, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 0.000%) | 6.421 %(c) | &nbsp;&nbsp;04/25/42 |  | &nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp; $105191 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DNA06, Class M1B, 144A, 30 Day Average SOFR + 3.700% (Cap N/A, Floor 0.000%) | 7.221(c) | &nbsp;&nbsp;09/25/42 |  | &nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600572 |
| **Total Residential Mortgage-Backed Securities<br> (cost $1,044,649)** | **Total Residential Mortgage-Backed Securities<br> (cost $1,044,649)** | **Total Residential Mortgage-Backed Securities<br> (cost $1,044,649)** | **Total Residential Mortgage-Backed Securities<br> (cost $1,044,649)** | **Total Residential Mortgage-Backed Securities<br> (cost $1,044,649)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028802 |
| **Sovereign Bonds 1.3%** | **Sovereign Bonds 1.3%** | **Sovereign Bonds 1.3%** | **Sovereign Bonds 1.3%** | **Sovereign Bonds 1.3%** | **Sovereign Bonds 1.3%** |
| Brazil Minas SPE via State of Minas Gerais (Brazil),<br> Gov't. Gtd. Notes | 5.333 | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115560 |
| Dominican Republic International Bond (Dominican Republic),<br> Sr. Unsec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;02/22/29 |  | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137934 |
| Indonesia Government International Bond<br> (Indonesia), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 0.900 | &nbsp;&nbsp;02/14/27 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135925 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 1.100 | &nbsp;&nbsp;03/12/33 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75341 |
| Romanian Government International Bond (Romania),<br> Sr. Unsec'd. Notes, EMTN | 1.750 | &nbsp;&nbsp;07/13/30 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120689 |
| Serbia International Bond (Serbia),<br> Sr. Unsec'd. Notes | 3.125 | &nbsp;&nbsp;05/15/27 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275362 |
| Ukraine Government International Bond (Ukraine),<br> Sr. Unsec'd. Notes | 7.750 | &nbsp;&nbsp;09/01/26(d) |  | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22488 |
| **Total Sovereign Bonds<br> (cost $1,114,820)** | **Total Sovereign Bonds<br> (cost $1,114,820)** | **Total Sovereign Bonds<br> (cost $1,114,820)** | **Total Sovereign Bonds<br> (cost $1,114,820)** | **Total Sovereign Bonds<br> (cost $1,114,820)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883299 |
| **U.S. Government Agency Obligations 20.7%** | **U.S. Government Agency Obligations 20.7%** | **U.S. Government Agency Obligations 20.7%** | **U.S. Government Agency Obligations 20.7%** | **U.S. Government Agency Obligations 20.7%** | **U.S. Government Agency Obligations 20.7%** |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;03/01/51 |  | &nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524830 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;04/01/51 |  | &nbsp;&nbsp;&nbsp;502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431700 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;01/01/52 |  | &nbsp;&nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427200 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;02/01/52 |  | &nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421513 |
| Federal Home Loan Mortgage Corp. | 3.500 | &nbsp;&nbsp;06/01/52 |  | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458080 |
| Federal Home Loan Mortgage Corp. | 6.000 | &nbsp;&nbsp;08/01/52 |  | &nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132883 |
| Federal National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;11/01/50 |  | &nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360194 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;TBA |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856133 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;12/01/51 |  | &nbsp;&nbsp;&nbsp;477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422802 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency Obligations(Continued)** | **U.S. Government Agency Obligations(Continued)** | **U.S. Government Agency Obligations(Continued)** | **U.S. Government Agency Obligations(Continued)** | **U.S. Government Agency Obligations(Continued)** |
| Federal National Mortgage Assoc. | 3.000% | &nbsp;&nbsp;01/01/52 | &nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp; $200601 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;03/01/52 | &nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425031 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;02/01/52 | &nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858815 |
| Federal National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;05/01/52 | 1207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142597 |
| Federal National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934850 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239502 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;07/01/52 | &nbsp;&nbsp;&nbsp;488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486253 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;TBA(tt) | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505676 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;TBA | 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515973 |
| Government National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;09/20/51 | 1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939328 |
| Government National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;08/20/51 | 1256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141022 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;12/20/51 | &nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456684 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;03/20/52 | &nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452452 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;06/20/52 | &nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469244 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;07/20/52 | &nbsp;&nbsp;&nbsp;501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465928 |
| **Total U.S. Government Agency Obligations<br> (cost $14,505,785)** | **Total U.S. Government Agency Obligations<br> (cost $14,505,785)** | **Total U.S. Government Agency Obligations<br> (cost $14,505,785)** | **Total U.S. Government Agency Obligations<br> (cost $14,505,785)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14269291 |
| **U.S. Treasury Obligations 11.3%** | **U.S. Treasury Obligations 11.3%** | **U.S. Treasury Obligations 11.3%** | **U.S. Treasury Obligations 11.3%** | **U.S. Treasury Obligations 11.3%** |
| U.S. Treasury Bonds(k) | 2.000 | &nbsp;&nbsp;11/15/41 | 2830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061478 |
| U.S. Treasury Bonds | 2.375 | &nbsp;&nbsp;02/15/42 | 3430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670041 |
| U.S. Treasury Bonds | 2.750 | &nbsp;&nbsp;08/15/47 | &nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541371 |
| U.S. Treasury Bonds | 3.000 | &nbsp;&nbsp;08/15/52 | 1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886866 |
| U.S. Treasury Notes | 1.250 | &nbsp;&nbsp;11/30/26 | &nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144212 |
| U.S. Treasury Notes | 1.250 | &nbsp;&nbsp;12/31/26 | &nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467716 |
| U.S. Treasury Notes | 3.875 | &nbsp;&nbsp;11/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70284 |
| U.S. Treasury Notes | 3.875 | &nbsp;&nbsp;11/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55490 |
| U.S. Treasury Strips Coupon | 2.438(s) | &nbsp;&nbsp;11/15/41 | 1880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859953 |
| **Total U.S. Treasury Obligations<br> (cost $9,243,482)** | **Total U.S. Treasury Obligations<br> (cost $9,243,482)** | **Total U.S. Treasury Obligations<br> (cost $9,243,482)** | **Total U.S. Treasury Obligations<br> (cost $9,243,482)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7757411 |
| **Total Long-Term Investments<br> (cost $74,157,570)** | **Total Long-Term Investments<br> (cost $74,157,570)** | **Total Long-Term Investments<br> (cost $74,157,570)** | **Total Long-Term Investments<br> (cost $74,157,570)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68231395 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investment 5.7%** | **Short-Term Investment 5.7%** | **Short-Term Investment 5.7%** |
| **Unaffiliated Fund** |  |  |
| Dreyfus Government Cash Management (Institutional Shares)<br> (cost $3,894,495) | 3894495 | &nbsp;&nbsp; $3894495 |
| **TOTAL INVESTMENTS 104.9%<br> (cost $78,052,065)** | **TOTAL INVESTMENTS 104.9%<br> (cost $78,052,065)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72125890 |
| Liabilities in excess of other assets(z) (4.9)% | Liabilities in excess of other assets(z) (4.9)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3365050) |
| **Net Assets 100.0%** | **Net Assets 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$68760840 |

---

------

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

EUR—Euro <br> GBP—British Pound

---

| |
|:---|
| 144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. |
| A—Annual payment frequency for swaps |
| BNP—BNP Paribas S.A. |
| BOA—Bank of America, N.A. |
| CLO—Collateralized Loan Obligation |
| EMTN—Euro Medium Term Note |
| EURIBOR—Euro Interbank Offered Rate |
| FHLMC—Federal Home Loan Mortgage Corporation |
| GMTN—Global Medium Term Note |
| IO—Interest Only (Principal amount represents notional) |
| JPM—JPMorgan Chase Bank N.A. |
| LIBOR—London Interbank Offered Rate |
| LP—Limited Partnership |
| MSI—Morgan Stanley & Co International PLC |
| MTN—Medium Term Note |
| OTC—Over-the-counter |
| Q—Quarterly payment frequency for swaps |
| REITs—Real Estate Investment Trust |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR—Secured Overnight Financing Rate |
| SONIA—Sterling Overnight Index Average |
| STRIPs—Separate Trading of Registered Interest and Principal of Securities |
| T—Swap payment upon termination |
| TBA—To Be Announced |
| TD—The Toronto-Dominion Bank |
| USOIS—United States Overnight Index Swap |

---

---

| | |
|:---|:---|
| # | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $257,549 and 0.4% of net assets. |
| (c) | Variable rate instrument. The interest rate shown reflects the rate in effect at November 30, 2022. |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

(cc) Variable rate instrument. The rate shown is based on the latest available information as of November 30, 2022. Certain variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.

(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.

(f) Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to
disposition under federal securities law; the aggregate original cost of such securities is $39,000. The aggregate value of $31,126 is 0.0% of net assets.

(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.

(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.

(oo) Perpetual security. Maturity date represents next call date.

(p) Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end.

(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.

(tt) All or partial principal amount represents "TBA" mortgage dollar rolls. The aggregate mortgage dollar roll principal amount of 500,000 is 0.7% of net assets.

(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at November 30, 2022:** | **Futures contracts outstanding at November 30, 2022:** | **Futures contracts outstanding at November 30, 2022:** | **Futures contracts outstanding at November 30, 2022:** | **Futures contracts outstanding at November 30, 2022:** |
| **Number<br> of<br> Contracts** | **Type** | **Expiration<br> Date** | **Current<br> Notional<br> Amount** | **Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Long Positions:** | **Long Positions:** | **Long Positions:** | **Long Positions:** | **Long Positions:** |
| 49 | 2 Year U.S. Treasury Notes | Mar. 2023 | $10062609 | $23548 |
| 70 | 5 Year U.S. Treasury Notes | Mar. 2023 | &nbsp;&nbsp;&nbsp;&nbsp;7599922 | &nbsp;&nbsp;&nbsp;&nbsp;33926 |
| 10 | 10 Year U.S. Treasury Notes | Mar. 2023 | &nbsp;&nbsp;&nbsp;&nbsp;1135000 | &nbsp;&nbsp;&nbsp;&nbsp;5974 |
| 8 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2023 | &nbsp;&nbsp;&nbsp;&nbsp;1090250 | &nbsp;&nbsp;&nbsp;&nbsp;13283 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;76731 |
| **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** |
| 4 | 5 Year Euro-Bobl | Dec. 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480120 | &nbsp;&nbsp;&nbsp;&nbsp;13003 |
| 1 | 5 Year Euro-Bobl | Mar. 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(157) |
| 3 | 10 Year Euro-Bund | Dec. 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422640 | &nbsp;&nbsp;&nbsp;&nbsp;13664 |
| 22 | 20 Year U.S. Treasury Bonds | Mar. 2023 | &nbsp;&nbsp;&nbsp;&nbsp;2794000 | &nbsp;&nbsp;&nbsp;(34287) |
| 1 | Euro Schatz Index | Dec. 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106780 | &nbsp;&nbsp;&nbsp;&nbsp;1507 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(6270) |
|  |  |  |  | $70461 |

---

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

#### Forward foreign currency exchange contracts outstanding at November 30, 2022 :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase<br> Contracts** | **Counterparty** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value at<br> Settlement<br> Date** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;Expiring 12/02/22 | MSI | GBP | &nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp; $639626 | &nbsp;&nbsp; $645161 | $5535 | $— |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;Expiring 12/02/22 | BNP | EUR | 3923 | &nbsp;&nbsp;&nbsp;4051292 | &nbsp;&nbsp;&nbsp;4082140 | &nbsp;&nbsp;&nbsp;30848 | &nbsp;&nbsp;&nbsp;— |
|  |  |  |  | $4690918 | $4727301 | &nbsp;&nbsp;&nbsp;36383 | &nbsp;&nbsp;&nbsp;— |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale<br> Contracts** | **Counterparty** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value at<br> Settlement<br> Date** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;Expiring 12/02/22 | BNP | GBP | &nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp; $606487 | &nbsp;&nbsp; $645161 | &nbsp;&nbsp;&nbsp;&nbsp; $— | $(38674) |
| &nbsp;&nbsp;Expiring 01/12/23 | MSI | GBP | &nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;640616 | &nbsp;&nbsp;&nbsp;&nbsp;646190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5574) |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;Expiring 12/02/22 | BNP | EUR | 3017 | &nbsp;&nbsp;&nbsp;3002703 | &nbsp;&nbsp;&nbsp;3139464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(136761) |
| &nbsp;&nbsp;Expiring 12/02/22 | BOA | EUR | &nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;659412 | &nbsp;&nbsp;&nbsp;&nbsp;665903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6491) |
| &nbsp;&nbsp;Expiring 12/02/22 | BOA | EUR | &nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;215637 | &nbsp;&nbsp;&nbsp;&nbsp;222126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6489) |
| &nbsp;&nbsp;Expiring 12/02/22 | JPM | EUR | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2633) |
| &nbsp;&nbsp;Expiring 01/12/23 | BNP | EUR | 3923 | &nbsp;&nbsp;&nbsp;4066219 | &nbsp;&nbsp;&nbsp;4097388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(31169) |
| &nbsp;&nbsp;Expiring 01/12/23 | JPM | EUR | &nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp;256661 | &nbsp;&nbsp;&nbsp;&nbsp;258512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1851) |
| &nbsp;&nbsp;Expiring 01/12/23 | TD | EUR | &nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;112678 | &nbsp;&nbsp;&nbsp;&nbsp;113908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1230) |
|  |  |  |  | $9612427 | $9843299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(230872) |
|  |  |  |  |  |  | $36383 | $(230872) |

---

#### Interest rate swap agreements outstanding at November 30, 2022 :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Floating<br> Rate** | &nbsp;&nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;&nbsp;**Value at<br> November 30,<br> 2022** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** |
| GBP | 140 | &nbsp;&nbsp;05/08/27 | &nbsp;&nbsp;1.050%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 2.927% | &nbsp;&nbsp; $(1343) | &nbsp;&nbsp; $19941 | &nbsp;&nbsp; $21284 |
| GBP | 120 | &nbsp;&nbsp;05/08/32 | &nbsp;&nbsp;1.150%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 2.927% | &nbsp;&nbsp;&nbsp;&nbsp;7389 | &nbsp;&nbsp;&nbsp;&nbsp;26126 | &nbsp;&nbsp;&nbsp;&nbsp;18737 |
|  |  |  |  |  | &nbsp;&nbsp;$6046 | &nbsp;&nbsp;$46067 | &nbsp;&nbsp;$40021 |

---

(1) The Fund pays the fixed rate and receives the floating rate.

(2) The Fund pays the floating rate and receives the fixed rate.

------

### PGIM Total Return Bond ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2022

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swap agreements outstanding at November 30, 2022:** | **Total return swap agreements outstanding at November 30, 2022:** | **Total return swap agreements outstanding at November 30, 2022:** | **Total return swap agreements outstanding at November 30, 2022:** | **Total return swap agreements outstanding at November 30, 2022:** | **Total return swap agreements outstanding at November 30, 2022:** | **Total return swap agreements outstanding at November 30, 2022:** | **Total return swap agreements outstanding at November 30, 2022:** |
| **Reference Entity** | &nbsp;&nbsp;&nbsp;**Financing<br> Rate** | &nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Long (Short)<br> Notional<br> Amount<br> (000)#(1)** | &nbsp;&nbsp;&nbsp;**Fair<br> Value** | &nbsp;&nbsp;&nbsp;**Upfront<br> Premiums<br> Paid<br> (Received)** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)(2)** |
| **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** |
| Total Return Benchmark Bond Index(T) | &nbsp;&nbsp;1 Day USOIS -50bps(Q)/ 3.330% | &nbsp;&nbsp;JPM | &nbsp;&nbsp;03/20/23 | &nbsp;&nbsp;(1616) | &nbsp;&nbsp; $(134823) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(134823) |
| U.S. Treasury Bond(T) | &nbsp;&nbsp;1 Day USOIS -13bps(T)/ 3.700% | &nbsp;&nbsp;JPM | &nbsp;&nbsp;02/02/23 | &nbsp;&nbsp;1185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26405 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26405 |
| U.S. Treasury Bond(T) | &nbsp;&nbsp;1 Day USOIS +13bps(T)/ 3.960% | &nbsp;&nbsp;JPM | &nbsp;&nbsp;02/10/23 | &nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;120408 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;120408 |
|  |  |  |  |  | &nbsp;&nbsp;$11990 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11990 |

---

(1) On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return
swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate.

(2) Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).

*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:** 1-800-225-1852

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

- **a. Name of Series:** PGIM Total Return Bond ETF

- **b. EDGAR series identifier (if any):** S000074500

- **c. LEI of Series:** 549300KSB5ELQI845O14

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $80741100.55

**Total Liabilities:** $11978989.50

**Net Assets:** $68762111.05

**Delayed Delivery Securities:** $1141405.37

**Stand-by Commitments:** $10213188.80

**Cash Not Reported:** $108853.85

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 3.10232000 | **1-Year:** 1608.93788000 | **5-Year:** 18092.49040000 | **10-Year:** 9877.18389000 | **30-Year:** 1289.85450000

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

- **3-Month:** 18.00024000 | **1-Year:** 755.81889000 | **5-Year:** 2162.00869000 | **10-Year:** 352.39555000 | **30-Year:** 3.34670000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000232454 | -4.85%               | -1.05%               | 4.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-471836.37              | $-4026973.10                               |
| Month 2  | $-589811.28              | $-376163.54                                |
| Month 3  | $-3016687.75             | $6043268.95                                |

**Designated Index Information**

- **Index Name:** PGIM Total Return Bond ETF - ExDerivatives

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SOUTHWEST AIRLINES CO                              | Southwest Airlines Co                                                           | CUSIP: 844741BK3<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    140000 | PA      | $141213.95    | 0.21%             | 2027-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                           | AT&T Inc                                                                        | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    275000 | PA      | $193138.05    | 0.28%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                       | Calpine Corp                                                                    | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43194.63     | 0.06%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                             | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPBZ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24885.66     | 0.04%             | 2023-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                            | Energean Israel Finance Ltd                                                     | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |     90000 | PA      | $83700.00     | 0.12%             | 2026-03-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                           | Benchmark 2020-B19 Mortgage Trust                                               | CUSIP: 08162WAY2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    397178 | PA      | $373409.99    | 0.54%             | 2053-09-15      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                | Petroleos Mexicanos                                                             | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $180320.00    | 0.26%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KONTOOR BRANDS INC                                 | Kontoor Brands Inc                                                              | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41344.44     | 0.06%             | 2029-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| TSTAT 2022-1 Ltd                                   | TSTAT 2022-1 Ltd                                                                | CUSIP: 872899AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |    500000 | PA      | $491312.50    | 0.71%             | 2031-07-20      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                   | Allied Universal Holdco LLC / Allied Universal Finance Corp                     | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $71274.27     | 0.10%             | 2026-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                              | Palmer Square CLO 2018-2 Ltd                                                    | CUSIP: 69688MAA3<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $490856.50    | 0.71%             | 2031-07-16      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                           | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $22927.72     | 0.03%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor                     | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3               | CUSIP: 06427DAU7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8410000 | PA      | $185515.35    | 0.27%             | 2050-02-15      | Variable      | 0.74%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                     | Ginnie Mae II Pool                                                              | CUSIP: 36179XBS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    501368 | PA      | $465928.48    | 0.68%             | 2052-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                           | Chobani LLC / Chobani Finance Corp Inc                                          | CUSIP: 17027NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24452.15     | 0.04%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418D7G1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    477013 | PA      | $422801.80    | 0.61%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Crown City CLO                                     | Crown City CLO II                                                               | CUSIP: 22823KAQ7<br>LEI: 549300TQXORNUWLBOD84 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $242415.75    | 0.35%             | 2035-04-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                 | Ford Motor Co                                                                   | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    255000 | PA      | $244738.17    | 0.36%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                     | Bain Capital Credit CLO 2022-1 Ltd                                              | CUSIP: 05684UAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $239950.25    | 0.35%             | 2035-04-18      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                   | CSC Holdings LLC                                                                | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    400000 | PA      | $364451.07    | 0.53%             | 2029-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| AMGEN INC                                          | Amgen Inc                                                                       | CUSIP: 031162DK3<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     85000 | PA      | $77632.44     | 0.11%             | 2053-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418EF47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    240467 | PA      | $239502.06    | 0.35%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                            | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $43784.94     | 0.06%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                           | Corebridge Financial Inc                                                        | CUSIP: 21871XAL3<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $80607.73     | 0.12%             | 2052-04-05      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| UNITI GRP/UNITI HLD/CSL                            | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC                     | CUSIP: 91327AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    575000 | PA      | $579092.41    | 0.84%             | 2025-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                 | Howard Hughes Corp/The                                                          | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41054.42     | 0.06%             | 2031-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                            | MPLX LP                                                                         | CUSIP: 55336VAL4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    105000 | PA      | $91122.43     | 0.13%             | 2047-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                     | Morgan Stanley Capital I Trust 2020-HR8                                         | CUSIP: 61692BBJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    365000 | PA      | $290087.58    | 0.42%             | 2053-07-15      | Fixed         | 1.79%                 | No            |                  2 | On Loan: No      |
| ENDEAVOR ENERGY RESOURCE                           | Endeavor Energy Resources LP / EER Finance Inc                                  | CUSIP: 29260FAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $73811.31     | 0.11%             | 2028-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LIKEWIZE CORP                                      | Likewize Corp                                                                   | CUSIP: 10947XAA0<br>LEI: TF9O1XIG83ZLXX7WN472 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46106.17     | 0.07%             | 2025-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                 | Energy Transfer LP                                                              | CUSIP: 86765BAV1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    285000 | PA      | $246432.05    | 0.36%             | 2047-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                           | OZLM XVIII Ltd                                                                  | CUSIP: 67112GAA6<br>LEI: 5493002SZMQH8ZTTHX49 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $242744.75    | 0.35%             | 2031-04-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                  | Generate CLO 4 Ltd                                                              | CUSIP: 986252AQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $244598.00    | 0.36%             | 2032-04-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                             | Mexico City Airport Trust                                                       | CUSIP: 59284MAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    200000 | PA      | $188250.00    | 0.27%             | 2026-10-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                 | Energy Transfer LP                                                              | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     85000 | PA      | $71609.19     | 0.10%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Cordatus CLO PLC                                   | CVC Cordatus Loan Fund XXIII DAC                                                | CUSIP: 000000000<br>LEI: 549300UZHWKVESFC2U21 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $246274.52    | 0.36%             | 2036-04-25      | Floating      | 3.84%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                | Petroleos Mexicanos                                                             | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $83560.23     | 0.12%             | 2029-02-26      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                     | JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYAH                  | CUSIP: 46654EAQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $137769.54    | 0.20%             | 2038-06-15      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                       | GS Mortgage Securities Trust 2021-GSA3                                          | CUSIP: 36263UAR0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $95934.00     | 0.14%             | 2054-12-15      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC                                | Oportun Funding XIV LLC                                                         | CUSIP: 68377BAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $91040.81     | 0.13%             | 2028-03-08      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                           | Ford Motor Credit Co LLC                                                        | CUSIP: 345397A45<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185390.03    | 0.27%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                       | Broadcom Inc                                                                    | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    205000 | PA      | $152159.90    | 0.22%             | 2035-11-15      | Fixed         | 3.14%                 | Yes           |                  2 | On Loan: No      |
| Oportun Funding LLC                                | Oportun Issuance Trust 2022-2                                                   | CUSIP: 68377HAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    156451 | PA      | $154969.60    | 0.23%             | 2029-10-09      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | Morgan Stanley                                                                  | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    450000 | PA      | $368801.10    | 0.54%             | 2033-01-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-                     | One New York Plaza Trust 2020-1NYP                                              | CUSIP: 68249DAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $163159.97    | 0.24%             | 2036-01-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Avoca CLO                                          | Avoca Capital CLO X Ltd                                                         | CUSIP: 000000000<br>LEI: 635400SFFWCTHJHBZK84 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $237552.21    | 0.35%             | 2035-04-15      | Floating      | 2.73%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                  | Elevation Clo 2021-15 Ltd                                                       | CUSIP: 28623VAC3<br>LEI: 5493005VN5WX000OV470 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $485206.50    | 0.71%             | 2035-01-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                           | Smyrna Ready Mix Concrete LLC                                                   | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |     75000 | PA      | $66745.91     | 0.10%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | CBOT 5 Year US Treasury Note                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        70 | NC      | $33926.01     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SUN COMMUNITIES OPER LP                            | Sun Communities Operating LP                                                    | CUSIP: 866677AH0<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              | CORP              | US        |     80000 | PA      | $69218.27     | 0.10%             | 2032-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SHEA HOMES LP/FNDG CP                              | Shea Homes LP / Shea Homes Funding Corp                                         | CUSIP: 82088KAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $41494.70     | 0.06%             | 2029-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                     | NRG Energy Inc                                                                  | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41755.04     | 0.06%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Grosvenor Place CLO BV                             | Grosvenor Place CLO 2022-1 DAC                                                  | CUSIP: 000000000<br>LEI: 635400XBQAMTXICTXN06 | Long             | ABS-CBDO         | CORP              | IE        |    750000 | PA      | $772645.94    | 1.12%             | 2035-11-24      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                             | Extra Space Storage LP                                                          | CUSIP: 30225VAH0<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    135000 | PA      | $121864.48    | 0.18%             | 2029-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                        | CURRENCY CONTRACT - USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-38674.07    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| PIEDMONT NATURAL GAS CO                            | Piedmont Natural Gas Co Inc                                                     | CUSIP: 720186AP0<br>LEI: VXB4M3BDPKF3I2AZ3G89 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68598.66     | 0.10%             | 2052-05-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                           | Diversified Healthcare Trust                                                    | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $52270.79     | 0.08%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                             | Brixmor Operating Partnership LP                                                | CUSIP: 11120VAJ2<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |    145000 | PA      | $127455.76    | 0.19%             | 2030-07-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                           | Comision Federal de Electricidad                                                | CUSIP: 200447AL4<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $174100.00    | 0.25%             | 2029-05-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                         | DaVita Inc                                                                      | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    150000 | PA      | $121402.19    | 0.18%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FORESTAR GROUP INC                                 | Forestar Group Inc                                                              | CUSIP: 346232AF8<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44808.43     | 0.07%             | 2026-05-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| WELLTOWER INC                                      | Welltower Inc                                                                   | CUSIP: 95040QAD6<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              | CORP              | US        |    175000 | PA      | $165728.06    | 0.24%             | 2028-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                               | Freeport-McMoRan Inc                                                            | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    135000 | PA      | $127173.76    | 0.18%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                              | Tenet Healthcare Corp                                                           | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22052.14     | 0.03%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                 | Ukraine Government International Bond                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    100000 | PA      | $22487.50     | 0.03%             | 2026-09-01      | Variable      | 7.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                           | 1011778 BC ULC / New Red Finance Inc                                            | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     25000 | PA      | $21312.50     | 0.03%             | 2029-02-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2021-CIP                                           | CUSIP: 12434FAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $137221.77    | 0.20%             | 2038-12-15      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                           | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAN3<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     95000 | PA      | $75856.25     | 0.11%             | 2042-03-15      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC                                     | NRG Energy Inc                                                                  | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     50000 | PA      | $40694.21     | 0.06%             | 2032-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                                     | ICG US CLO 2014-3 Ltd                                                           | CUSIP: 44929FBA9<br>LEI: 635400HSQQQ24A9NAK80 | Long             | ABS-CBDO         | CORP              | KY        |    249390 | PA      | $245622.51    | 0.36%             | 2031-04-25      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| STRIPS                                             | United States Treasury Strip Coupon                                             | CUSIP: 912834KV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1880000 | PA      | $859953.13    | 1.25%             | 2041-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                             | Pacific Gas and Electric Co                                                     | CUSIP: 694308JQ1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    110000 | PA      | $87896.90     | 0.13%             | 2040-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                          | ONEOK Inc                                                                       | CUSIP: 682680AZ6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    150000 | PA      | $114025.97    | 0.17%             | 2049-09-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY                                      | Sempra Energy                                                                   | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    120000 | PA      | $93028.19     | 0.14%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418ECA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    479890 | PA      | $425031.02    | 0.62%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                  | Post Holdings Inc                                                               | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     75000 | PA      | $63356.93     | 0.09%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN                               | University of Minnesota                                                         | CUSIP: 914460WT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $82258.66     | 0.12%             | 2052-04-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| MASCO CORP                                         | Masco Corp                                                                      | CUSIP: 574599BN5<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | DBT              | CORP              | US        |    230000 | PA      | $211610.47    | 0.31%             | 2027-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                           | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $264707.62    | 0.38%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                          | ONEOK Inc                                                                       | CUSIP: 682680AV5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     65000 | PA      | $55472.49     | 0.08%             | 2048-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                          | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F052615<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1500000 | PA      | $1515973.56   | 2.20%             | 2053-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                      | Ballyrock CLO 2020-2 Ltd                                                        | CUSIP: 05875DAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $245690.00    | 0.36%             | 2031-10-20      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | CME ULTRA LONG TERM US TREASURY BOND                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         8 | NC      | $13283.36     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                             | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC           | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $41682.59     | 0.06%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA ASAHAN ALUMINI                           | Indonesia Asahan Aluminium Persero PT                                           | CUSIP: 000000000<br>LEI: 2549008P48EB9SN2OI80 | Long             | DBT              | CORP              | ID        |    200000 | PA      | $195522.00    | 0.28%             | 2025-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                      | DISH DBS Corp                                                                   | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $32886.50     | 0.05%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                              | Bausch Health Cos Inc                                                           | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $21250.00     | 0.03%             | 2029-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                           | EQM Midstream Partners LP                                                       | CUSIP: 26885BAN0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25233.10     | 0.04%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                                   | Bellemeade Re 2019-2 Ltd                                                        | CUSIP: 07877BAG5<br>LEI: 254900I4ZKD8IMM1O953 | Long             | ABS-MBS          | CORP              | BM        |    200000 | PA      | $193068.04    | 0.28%             | 2029-04-25      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | Morgan Stanley                                                                  | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    520000 | PA      | $436771.82    | 0.64%             | 2031-01-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418EGT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    488212 | PA      | $486252.59    | 0.71%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                           | EQM Midstream Partners LP                                                       | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25235.33     | 0.04%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                     | Ginnie Mae II Pool                                                              | CUSIP: 36179WNE4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1066192 | PA      | $939328.38    | 1.37%             | 2051-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                   | Beazer Homes USA Inc                                                            | CUSIP: 07556QBT1<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |     75000 | PA      | $66237.43     | 0.10%             | 2029-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                             | Chesapeake Energy Corp                                                          | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47994.68     | 0.07%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                        | Viatris Inc                                                                     | CUSIP: 92556VAE6<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |    125000 | PA      | $86429.36     | 0.13%             | 2040-06-22      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE                             | Westinghouse Air Brake Technologies Corp                                        | CUSIP: 960386AM2<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    140000 | PA      | $133534.86    | 0.19%             | 2028-09-15      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV FIN                           | Anheuser-Busch InBev Finance Inc                                                | CUSIP: 03524BAF3<br>LEI: 5493000EYEKDT0FBSQ91 | Long             | DBT              | CORP              | US        |     40000 | PA      | $36387.76     | 0.05%             | 2044-02-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MARKET BIDCO FINCO PLC                             | Market Bidco Finco PLC                                                          | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $91559.27     | 0.13%             | 2027-11-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEWMONT CORP                                       | Newmont Corp                                                                    | CUSIP: 651639AY2<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | DBT              | CORP              | US        |    160000 | PA      | $129599.84    | 0.19%             | 2030-10-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                            | Empire Communities Corp                                                         | CUSIP: 29163VAC7<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $44000.00     | 0.06%             | 2025-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                  | Kinder Morgan Inc                                                               | CUSIP: 49456BAW1<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    135000 | PA      | $123262.61    | 0.18%             | 2052-08-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                    | Lamb Weston Holdings Inc                                                        | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22131.11     | 0.03%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                             | Williams Cos Inc/The                                                            | CUSIP: 969457BY5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    215000 | PA      | $177140.13    | 0.26%             | 2031-03-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                | Petroleos Mexicanos                                                             | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $83125.00     | 0.12%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| POWER FINANCE CORP LTD                             | Power Finance Corp Ltd                                                          | CUSIP: 73928QAA6<br>LEI: 3358003Q6D9LIJJZ1614 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $202398.00    | 0.29%             | 2028-12-06      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                            | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $127972.24    | 0.19%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association              | CURRENCY CONTRACT - USD                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6488.98     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                             | H&E Equipment Services Inc                                                      | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43234.97     | 0.06%             | 2028-12-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                     | Mariner Finance Issuance Trust 2020-A                                           | CUSIP: 56848MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $142555.47    | 0.21%             | 2034-08-21      | Fixed         | 2.19%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                      | Citigroup Commercial Mortgage Trust 2019-GC43                                   | CUSIP: 17328HBC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $430012.75    | 0.63%             | 2052-11-10      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| CF INDUSTRIES INC                                  | CF Industries Inc                                                               | CUSIP: 12527GAF0<br>LEI: 5FVKT86LAD2F40NPC183 | Long             | DBT              | CORP              | US        |    130000 | PA      | $124375.91    | 0.18%             | 2034-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                     | BBCMS Mortgage Trust 2020-C7                                                    | CUSIP: 05492VAH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1019000 | PA      | $60738.21     | 0.09%             | 2053-04-15      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | CURRENCY CONTRACT - USD                                                         | CUSIP: 000000000<br>LEI: 8NAV47T0Y26Q87Y0QP81 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6490.79     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Crown Point CLO Ltd                                | Crown Point CLO 11 Ltd                                                          | CUSIP: 22845JAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $480012.00    | 0.70%             | 2034-01-17      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                  | Eurex 10 Year Euro BUND                                                         | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -3 | NC      | $13663.90     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON UNIVERSITY                              | Washington University/The                                                       | CUSIP: 940663AD9<br>LEI: 2V765680J33YAZOYW441 | Long             | DBT              | CORP              | US        |     80000 | PA      | $63420.28     | 0.09%             | 2122-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                             | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $79365.85     | 0.12%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Madison Park Euro Funding                          | Madison Park Euro Funding XIV DAC                                               | CUSIP: 000000000<br>LEI: 635400XLHN7OVUSEV112 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $252091.74    | 0.37%             | 2032-07-15      | Floating      | 2.18%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac STACR REMIC Trust 2022-DNA6                                         | CUSIP: 35564KH44<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $600572.04    | 0.87%             | 2042-09-25      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Carlyle C17 CLO                                    | Carlyle C17 CLO Ltd                                                             | CUSIP: 14307PAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $245948.50    | 0.36%             | 2031-04-30      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| NEWMONT CORP                                       | Newmont Corp                                                                    | CUSIP: 651639AZ9<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20083.82     | 0.03%             | 2032-07-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                     | Barings Clo Ltd 2020-IIII                                                       | CUSIP: 06762CAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $244178.50    | 0.36%             | 2033-10-15      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | CBOT 10 Year US Treasury Note                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        10 | NC      | $5974.40      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDEN ENTERTAINMENT INC                           | Golden Entertainment Inc                                                        | CUSIP: 381013AA9<br>LEI: 549300P8YYCKQVJ0Y638 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49462.07     | 0.07%             | 2026-04-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418D6B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         0 | PA      | $0.01         | 0.00%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                      | DISH DBS Corp                                                                   | CUSIP: 25470XAL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74490.20     | 0.11%             | 2023-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHIRE ACQ INV IRELAND DA                           | Shire Acquisitions Investments Ireland DAC                                      | CUSIP: 82481LAD1<br>LEI: 549300XK5HGW68R8K327 | Long             | DBT              | CORP              | IE        |    225000 | PA      | $211050.74    | 0.31%             | 2026-09-23      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                    | United States Treasury Note/Bond                                                | CUSIP: 91282CDQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    520000 | PA      | $467715.63    | 0.68%             | 2026-12-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                                             | CUSIP: 46647PBE5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1027602.37   | 1.49%             | 2030-10-15      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION          | TRS TREASURY BOND                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               | CORP              | US        |         1 | NC      | $26404.99     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                             | Rockford Tower CLO 2022-2 Ltd                                                   | CUSIP: 77340LAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $737848.50    | 1.07%             | 2033-07-20      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION          | TRS TREASURY BOND                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               | CORP              | US        |         1 | NC      | $120407.63    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                     | Ginnie Mae II Pool                                                              | CUSIP: 36179WT24<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    491652 | PA      | $456684.35    | 0.66%             | 2051-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | Citigroup Inc                                                                   | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     40000 | PA      | $33418.59     | 0.05%             | N/A             | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                                     | ICG US CLO 2015-2R Ltd                                                          | CUSIP: 44933WAA7<br>LEI: 25490037AMBNS8P47972 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $243478.00    | 0.35%             | 2033-01-16      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                           | Virgin Media Secured Finance PLC                                                | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    206000 | PA      | $198111.54    | 0.29%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                | Petroleos Mexicanos                                                             | CUSIP: 71654QCP5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $83850.00     | 0.12%             | 2029-01-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                           | Ashton Woods USA LLC / Ashton Woods Finance Co                                  | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $39342.19     | 0.06%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                          | Boeing Co/The                                                                   | CUSIP: 097023CK9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    180000 | PA      | $127991.25    | 0.19%             | 2049-05-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                  | General Motors Co                                                               | CUSIP: 37045VAF7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144679.90    | 0.21%             | 2043-10-02      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | CBOT US Long Bond                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -22 | NC      | $-34287.36    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS                                        | CURRENCY CONTRACT - USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-136761.18   | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| NATIONWIDE CHILDREN HOSP                           | Nationwide Children's Hospital Inc                                              | CUSIP: 63861UAA7<br>LEI: 549300P18KU1WR8JWZ05 | Long             | DBT              | CORP              | US        |    220000 | PA      | $199716.20    | 0.29%             | 2052-11-01      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418DUG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    434986 | PA      | $360193.84    | 0.52%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                 | Ford Motor Co                                                                   | CUSIP: 345370CQ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |     50000 | PA      | $37089.34     | 0.05%             | 2043-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                    | United States Treasury Note/Bond                                                | CUSIP: 912810RY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    675000 | PA      | $541371.09    | 0.79%             | 2047-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                            | Standard Industries Inc/NJ                                                      | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     75000 | PA      | $61484.22     | 0.09%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                   | T-Mobile USA Inc                                                                | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    450000 | PA      | $372242.02    | 0.54%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418EES5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1207101 | PA      | $1142597.24   | 1.66%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                               | OneMain Finance Corp                                                            | CUSIP: 85172FAM1<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48591.44     | 0.07%             | 2025-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                              | KKR Clo 33 Ltd                                                                  | CUSIP: 48254QAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $483122.50    | 0.70%             | 2034-07-20      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                | Medline Borrower LP                                                             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21489.71     | 0.03%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                            | MPLX LP                                                                         | CUSIP: 55336VBT6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     55000 | PA      | $45887.44     | 0.07%             | 2052-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                           | Brookfield Residential Properties Inc / Brookfield Residential US LLC           | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     75000 | PA      | $59102.25     | 0.09%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                             | Fairfax Financial Holdings Ltd                                                  | CUSIP: 303901BJ0<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    115000 | PA      | $93964.45     | 0.14%             | 2031-03-03      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                        | CURRENCY CONTRACT - EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              | CORP              | US        |         1 | NC      | $30847.85     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                      | MHC Commercial Mortgage Trust 2021-MHC                                          | CUSIP: 55316VAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    368917 | PA      | $344890.54    | 0.50%             | 2038-04-15      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                        | Chemours Co/The                                                                 | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45461.11     | 0.07%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GR/DIAMON                           | Diamond Sports Group LLC / Diamond Sports Finance Co                            | CUSIP: 25277LAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $31126.06     | 0.05%             | 2026-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                          | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $19941.23     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HELMERICH & PAYNE INC                              | Helmerich & Payne Inc                                                           | CUSIP: 423452AG6<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | DBT              | CORP              | US        |     65000 | PA      | $53673.21     | 0.08%             | 2031-09-29      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| ERAC USA FINANCE LLC                               | ERAC USA Finance LLC                                                            | CUSIP: 26884TAR3<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |    160000 | PA      | $148561.60    | 0.22%             | 2026-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                            | Romanian Government International Bond                                          | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    160000 | PA      | $120688.86    | 0.18%             | 2030-07-13      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                              | Tenet Healthcare Corp                                                           | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23698.08     | 0.03%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance T                     | Regional Management Issuance Trust 2022-1                                       | CUSIP: 75907DAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $91139.11     | 0.13%             | 2032-03-15      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                        | Gap Inc/The                                                                     | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |     50000 | PA      | $37744.67     | 0.05%             | 2031-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                          | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0526C1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $505676.09    | 0.74%             | 2052-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418D3G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         0 | PA      | $0.02         | 0.00%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Venture CLO 43 Limited                             | Venture 43 CLO Ltd                                                              | CUSIP: 92290CAB5<br>LEI: 549300OLN5VHTMLSN650 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $241192.25    | 0.35%             | 2034-04-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                           | Sally Holdings LLC / Sally Capital Inc                                          | CUSIP: 79546VAL0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $71815.40     | 0.10%             | 2025-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418EF21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    960055 | PA      | $934849.65    | 1.36%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                     | Carlyle Global Market Strategies CLO 2014-1 Ltd                                 | CUSIP: 14310MAW7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    249242 | PA      | $245002.10    | 0.36%             | 2031-04-17      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| BANK 2021-BN35                                     | BANK 2021-BNK35                                                                 | CUSIP: 06540CBA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $396779.00    | 0.58%             | 2064-06-15      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                | Avantor Funding Inc                                                             | CUSIP: 000000000<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    192000 | PA      | $184518.20    | 0.27%             | 2028-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                         | AbbVie Inc                                                                      | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    265000 | PA      | $231525.81    | 0.34%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Highbridge Loan Management Ltd                     | HPS Loan Management 10-2016 Ltd                                                 | CUSIP: 40436TAS5<br>LEI: 2549009NI8GVCM3ROT27 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $290430.00    | 0.42%             | 2034-04-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                    | United States Treasury Note/Bond                                                | CUSIP: 91282CFZ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     70000 | PA      | $70284.38     | 0.10%             | 2027-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                | Century Communities Inc                                                         | CUSIP: 156504AL6<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48680.21     | 0.07%             | 2027-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                        | OCP CLO 2015-9 Ltd                                                              | CUSIP: 67091YAU8<br>LEI: 254900XV0U0WEM36A370 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $243268.75    | 0.35%             | 2033-01-15      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                             | Penn Entertainment Inc                                                          | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $41202.59     | 0.06%             | 2029-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| TCW Gem Ltd                                        | TCW CLO 2019-2 Ltd                                                              | CUSIP: 87242BAW0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $243983.00    | 0.35%             | 2032-10-20      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                               | JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc                          | CUSIP: 46590XAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     45000 | PA      | $43107.57     | 0.06%             | 2028-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                               | Bank of America Corp                                                            | CUSIP: 06051GJP5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $909568.92    | 1.32%             | 2032-03-11      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                     | Ginnie Mae II Pool                                                              | CUSIP: 36179W5D6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |         0 | PA      | $0.01         | 0.00%             | 2052-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BELLIS FINCO PLC                                   | Bellis Finco PLC                                                                | CUSIP: 000000000<br>LEI: 259400ELWH6Z4ICFTD70 | Long             | DBT              | CORP              | GB        |    218000 | PA      | $185323.35    | 0.27%             | 2027-02-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                          | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F022618<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $856132.82    | 1.25%             | 2053-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP                             | Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer Inc           | CUSIP: 69527AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $43456.79     | 0.06%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNIV OF MICHIGAN MI                                | University of Michigan                                                          | CUSIP: 914455UJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $81141.12     | 0.12%             | 2122-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                      | Citigroup Mortgage Loan Trust 2022-A                                            | CUSIP: 17330VAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98142 | PA      | $95396.32     | 0.14%             | 2062-09-25      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Palmer Square European CLO                         | Palmer Square European CLO 2021-2 DAC                                           | CUSIP: 000000000<br>LEI: 5493008YA044FHERJ655 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $257548.65    | 0.37%             | 2036-01-15      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Palmer Square CLO Ltd                              | Palmer Square CLO 2015-1 Ltd                                                    | CUSIP: 69689ABL3<br>LEI: 5493006ZPBFJJGSXB826 | Long             | ABS-CBDO         | CORP              | KY        |    465000 | PA      | $442713.95    | 0.64%             | 2034-05-21      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV FIN                           | Anheuser-Busch InBev Finance Inc                                                | CUSIP: 035242AB2<br>LEI: 5493000EYEKDT0FBSQ91 | Long             | DBT              | CORP              | US        |    125000 | PA      | $105831.25    | 0.15%             | 2043-01-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                | CUSIP: 3132DWC84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    475874 | PA      | $421512.59    | 0.61%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION          | TRS TRSBENCH7 INDEX                                                             | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               | CORP              | US        |         1 | NC      | $-134823.49   | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                     | Ginnie Mae II Pool                                                              | CUSIP: 36179W7L6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    505207 | PA      | $469243.70    | 0.68%             | 2052-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD                             | Eskom Holdings SOC Ltd                                                          | CUSIP: 29646AAA4<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |    200000 | PA      | $195000.00    | 0.28%             | 2023-08-06      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                             | General Motors Financial Co Inc                                                 | CUSIP: 37045XDW3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    180000 | PA      | $176022.82    | 0.26%             | 2027-04-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                            | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $68097.92     | 0.10%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                                             | CUSIP: 48128BAG6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    125000 | PA      | $110748.13    | 0.16%             | N/A             | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| AKER BP ASA                                        | Aker BP ASA                                                                     | CUSIP: 55037AAB4<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $164435.76    | 0.24%             | 2031-07-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                | CUSIP: 3132DWBC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    609034 | PA      | $524829.79    | 0.76%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                   | Altria Group Inc                                                                | CUSIP: 02209SBL6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    245000 | PA      | $186159.76    | 0.27%             | 2032-02-04      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                              | Indonesia Government International Bond                                         | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    150000 | PA      | $135925.21    | 0.20%             | 2027-02-14      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| LFS TOPCO LLC                                      | LFS Topco LLC                                                                   | CUSIP: 50203TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $20308.01     | 0.03%             | 2026-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SPIRIT REALTY LP                                   | Spirit Realty LP                                                                | CUSIP: 84861TAJ7<br>LEI: 549300GTBVIBJRX5BW73 | Long             | DBT              | CORP              | US        |    135000 | PA      | $100615.06    | 0.15%             | 2032-02-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                     | CARLYLE US CLO 2021-11 LTD                                                      | CUSIP: 143122AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $483722.50    | 0.70%             | 2033-01-25      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                           | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $23075.40     | 0.03%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                | Southern California Edison Co                                                   | CUSIP: 842400HN6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     30000 | PA      | $21967.40     | 0.03%             | 2052-02-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| LEGACY LIFEPOINT HEALTH                            | Legacy LifePoint Health LLC                                                     | CUSIP: 53219LAS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $62829.50     | 0.09%             | 2027-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                             | Fairfax Financial Holdings Ltd                                                  | CUSIP: 303901BK7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $126101.00    | 0.18%             | 2032-08-16      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | US 2YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        49 | NC      | $23548.20     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PIONEER NATURAL RESOURCE                           | Pioneer Natural Resources Co                                                    | CUSIP: 723787AR8<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |    125000 | PA      | $100924.90    | 0.15%             | 2031-01-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                            | Energean Israel Finance Ltd                                                     | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |     30000 | PA      | $28987.50     | 0.04%             | 2024-03-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                | Petroleos Mexicanos                                                             | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    130000 | PA      | $113151.66    | 0.16%             | 2028-02-21      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                            | United Rentals North America Inc                                                | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41265.86     | 0.06%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                   | Trinitas CLO V Ltd                                                              | CUSIP: 89641AAV7<br>LEI: 54930015QLUMDPHS1H02 | Long             | ABS-CBDO         | CORP              | KY        |     47271 | PA      | $46962.23     | 0.07%             | 2028-10-25      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                     | JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYAH                  | CUSIP: 46654EAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    374000 | PA      | $348676.20    | 0.51%             | 2038-06-15      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS Group AG                                                                    | CUSIP: 902613AN8<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $199626.00    | 0.29%             | 2026-05-12      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                               | Bank of America Corp                                                            | CUSIP: 060505FQ2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    125000 | PA      | $108109.39    | 0.16%             | N/A             | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management                 | Dreyfus Government Cash Management                                              | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |   4032006 | NS      | $4032006.27   | 5.86%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS                                        | BNP Paribas SA                                                                  | CUSIP: 09659W2N3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    415000 | PA      | $360362.10    | 0.52%             | 2027-01-13      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                     | Ginnie Mae II Pool                                                              | CUSIP: 36179WLQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1256004 | PA      | $1141021.82   | 1.66%             | 2051-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                        | Southern Co/The                                                                 | CUSIP: 842587DD6<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39883.89     | 0.06%             | 2027-08-01      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | Wells Fargo & Co                                                                | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    295000 | PA      | $288112.96    | 0.42%             | 2028-07-25      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                | Medline Borrower LP                                                             | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20379.88     | 0.03%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TELEDYNE TECHNOLOGIES IN                           | Teledyne Technologies Inc                                                       | CUSIP: 879360AE5<br>LEI: 549300VSMO9KYQWDND94 | Long             | DBT              | CORP              | US        |    115000 | PA      | $94856.18     | 0.14%             | 2031-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                    | United States Treasury Note/Bond                                                | CUSIP: 912810TJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1035000 | PA      | $886865.63    | 1.29%             | 2052-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                        | Vistra Corp                                                                     | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22449.64     | 0.03%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                         | CURRENCY CONTRACT - USD                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2632.91     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                | CUSIP: 3132DWBJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    502272 | PA      | $431700.29    | 0.63%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | Morgan Stanley                                                                  | CUSIP: 6174467Y9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    195000 | PA      | $190487.35    | 0.28%             | 2026-09-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                             | Verizon Communications Inc                                                      | CUSIP: 92343VEU4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    235000 | PA      | $221762.29    | 0.32%             | 2029-12-03      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| VERALLIA SA                                        | Verallia SA                                                                     | CUSIP: 000000000<br>LEI: 5299007YZU978DE0ZY32 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $90786.28     | 0.13%             | 2028-05-14      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                          | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $26125.93     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                              | eG Global Finance PLC                                                           | CUSIP: 000000000<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    231000 | PA      | $209641.51    | 0.30%             | 2025-10-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                           | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                            | CUSIP: 983133AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100112.97    | 0.15%             | 2025-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| INOVA HEALTH SYSTEMS FOU                           | Inova Health System Foundation                                                  | CUSIP: 45791GAA0<br>LEI: 5493001L7PBVS286Y307 | Long             | DBT              | CORP              | US        |    250000 | PA      | $209762.70    | 0.31%             | 2052-05-15      | Fixed         | 4.07%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                       | CSMC 2014-USA OA LLC                                                            | CUSIP: 12649AAC3<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $225753.30    | 0.33%             | 2037-09-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| OFSI Fund LTD                                      | OFSI BSL XI Ltd                                                                 | CUSIP: 67115PAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $495908.00    | 0.72%             | 2031-07-18      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                    | United States Treasury Note/Bond                                                | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3430000 | PA      | $2670040.63   | 3.88%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Atlas Senior Loan Fund LTD                         | Atlas Senior Loan Fund XIV                                                      | CUSIP: 04942CAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $483547.50    | 0.70%             | 2032-07-20      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                  | Herc Holdings Inc                                                               | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70148.91     | 0.10%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                     | Ginnie Mae II Pool                                                              | CUSIP: 36179WZB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    485430 | PA      | $452452.05    | 0.66%             | 2052-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| METIS MERGER SUB LLC                               | Metis Merger Sub LLC                                                            | CUSIP: 59155LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $60989.04     | 0.09%             | 2029-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418EBU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    936445 | PA      | $858815.13    | 1.25%             | 2052-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                | CUSIP: 3132DWC35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    481998 | PA      | $427200.49    | 0.62%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Lt                     | Benefit Street Partners CLO III Ltd                                             | CUSIP: 08180EBJ2<br>LEI: 549300Y1V90IQ456QX97 | Long             | ABS-CBDO         | CORP              | KY        |    128966 | PA      | $127492.24    | 0.19%             | 2029-07-20      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | Citigroup Inc                                                                   | CUSIP: 172967ML2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    990000 | PA      | $823524.05    | 1.20%             | 2031-01-29      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                    | Gen Digital Inc                                                                 | CUSIP: 871503AU2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122791.01    | 0.18%             | 2025-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                   | Connecticut Avenue Securities Trust 2022-R03                                    | CUSIP: 20753XAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15000 | PA      | $15149.87     | 0.02%             | 2042-03-25      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| PRESBYTERIAN HEALTHC SER                           | Presbyterian Healthcare Services                                                | CUSIP: 74071PAB9<br>LEI: 549300PILQ3W3CCH7D05 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143551.72    | 0.21%             | 2052-08-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                  | Eurex 5 Year Euro BOBL                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -5 | NC      | $16253.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO INC                                     | Merck & Co Inc                                                                  | CUSIP: 58933YBG9<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |     55000 | PA      | $36731.89     | 0.05%             | 2061-12-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                   | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    310000 | PA      | $258770.36    | 0.38%             | 2027-11-16      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                     | Var Energi ASA                                                                  | CUSIP: 92212WAA8<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $190667.32    | 0.28%             | 2027-05-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                            | Energean Israel Finance Ltd                                                     | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |     40000 | PA      | $36600.00     | 0.05%             | 2028-03-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | Wells Fargo & Co                                                                | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    260000 | PA      | $223844.82    | 0.33%             | 2030-10-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                 | Serbia International Bond                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    300000 | PA      | $275362.43    | 0.40%             | 2027-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                           | CURRENCY CONTRACT - GBP                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5535.22      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                           | Suburban Propane Partners LP/Suburban Energy Finance Corp                       | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $42899.84     | 0.06%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BXP Trust                                          | BXP Trust 2021-601L                                                             | CUSIP: 05607TAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $194299.55    | 0.28%             | 2044-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC                            | O'Reilly Automotive Inc                                                         | CUSIP: 67103HAJ6<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |     35000 | PA      | $33184.48     | 0.05%             | 2030-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac STACR REMIC Trust 2022-DNA3                                         | CUSIP: 35564KUX5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110000 | PA      | $105190.49    | 0.15%             | 2042-04-25      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2                     | BX Commercial Mortgage Trust 2019-XL                                            | CUSIP: 056054AL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    340000 | PA      | $320797.85    | 0.47%             | 2036-10-15      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| KINROSS GOLD CORP                                  | Kinross Gold Corp                                                               | CUSIP: 496902AQ0<br>LEI: 549300UEBMAQDN0K0R06 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $142461.00    | 0.21%             | 2027-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                   | MGM Resorts International                                                       | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     75000 | PA      | $66743.04     | 0.10%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Trinitas Euro CLO                                  | Trinitas Euro CLO II DAC                                                        | CUSIP: 000000000<br>LEI: 635400LANDKVH6IVDD64 | Long             | ABS-CBDO         | CORP              | IE        |    500000 | PA      | $500842.11    | 0.73%             | 2035-04-15      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | Morgan Stanley                                                                  | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26575.96     | 0.04%             | 2033-10-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                               | BAT International Finance PLC                                                   | CUSIP: 05530QAK6<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |    105000 | PA      | $101068.80    | 0.15%             | 2025-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                | CUSIP: 3132DWD26<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    500107 | PA      | $458079.97    | 0.67%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                               | Targa Resources Corp                                                            | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |     40000 | PA      | $35067.53     | 0.05%             | 2033-02-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                                                 | CUSIP: 31418EAP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    226167 | PA      | $200600.76    | 0.29%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                  | Eurex 2 Year Euro SCHATZ                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -1 | NC      | $1506.71      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae - CAS                                   | Connecticut Avenue Securities Trust 2022-R04                                    | CUSIP: 20753YAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $19425.00     | 0.03%             | 2042-03-25      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                    | United States Treasury Note/Bond                                                | CUSIP: 91282CFY2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     55000 | PA      | $55489.84     | 0.08%             | 2029-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| QUEENS HEALTH SYSTEMS                              | Queen's Health Systems/The                                                      | CUSIP: 74825QAB6<br>LEI: 5493002Y81US5EEDOV69 | Long             | DBT              | CORP              | US        |     90000 | PA      | $84392.17     | 0.12%             | 2052-07-01      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| KIMCO REALTY CORP                                  | Kimco Realty Corp                                                               | CUSIP: 49446RBA6<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              | CORP              | US        |     90000 | PA      | $84264.60     | 0.12%             | 2033-02-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                       | GS Mortgage Securities Trust 2021-GSA3                                          | CUSIP: 36263UAM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $156202.10    | 0.23%             | 2054-12-15      | Fixed         | 2.37%                 | No            |                  2 | On Loan: No      |
| GRIFFON CORPORATION                                | Griffon Corp                                                                    | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |     48000 | PA      | $44645.34     | 0.06%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APTARGROUP INC                                     | AptarGroup Inc                                                                  | CUSIP: 038336AA1<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | DBT              | CORP              | US        |    140000 | PA      | $117668.81    | 0.17%             | 2032-03-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                               | BAT International Finance PLC                                                   | CUSIP: 05530QAP5<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |    120000 | PA      | $111189.77    | 0.16%             | 2028-03-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                              | Indonesia Government International Bond                                         | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    100000 | PA      | $75340.52     | 0.11%             | 2033-03-12      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                          | Anchorage Capital CLO 25 Ltd                                                    | CUSIP: 03329WAA5<br>LEI: 5493004RXURZCE1LR038 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $485634.50    | 0.71%             | 2035-04-20      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD LP                               | Cantor Fitzgerald LP                                                            | CUSIP: 138616AE7<br>LEI: 549300RLUEEVQEMX0450 | Long             | DBT              | CORP              | US        |    165000 | PA      | $161585.48    | 0.23%             | 2024-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RELX CAPITAL INC                                   | RELX Capital Inc                                                                | CUSIP: 74949LAE2<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29175.39     | 0.04%             | 2032-05-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                                 | Steel Dynamics Inc                                                              | CUSIP: 858119BK5<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    120000 | PA      | $105754.54    | 0.15%             | 2030-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                     | Bombardier Inc                                                                  | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $73608.75     | 0.11%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AlbaCore Euro CLO                                  | AlbaCore Euro CLO IV DAC                                                        | CUSIP: 000000000<br>LEI: 635400OMGYX1QQYCTI48 | Long             | ABS-CBDO         | CORP              | IE        |    500000 | PA      | $501178.22    | 0.73%             | 2035-07-15      | Floating      | 2.60%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-                     | One New York Plaza Trust 2020-1NYP                                              | CUSIP: 68249DAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    310000 | PA      | $290500.41    | 0.42%             | 2036-01-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                           | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAS2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     15000 | PA      | $11596.73     | 0.02%             | 2062-03-15      | Fixed         | 5.39%                 | Yes           |                  2 | On Loan: No      |
| B&G FOODS INC                                      | B&G Foods Inc                                                                   | CUSIP: 05508RAE6<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44147.93     | 0.06%             | 2025-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYU2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     55000 | PA      | $44563.27     | 0.06%             | N/A             | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    735000 | PA      | $689954.30    | 1.00%             | 2029-05-01      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                    | Lamb Weston Holdings Inc                                                        | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22338.62     | 0.03%             | 2030-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                           | Devon Energy Corp                                                               | CUSIP: 25179MBE2<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95179.47     | 0.14%             | 2028-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| THOMAS JEFFERSON UNIV                              | Thomas Jefferson University                                                     | CUSIP: 88444NAS7<br>LEI: DB1TWPCZX5RK7VR27A68 | Long             | DBT              | CORP              | US        |     25000 | PA      | $18372.74     | 0.03%             | 2057-11-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                           | Antero Midstream Partners LP / Antero Midstream Finance Corp                    | CUSIP: 03690EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $76926.85     | 0.11%             | 2026-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                             | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $41285.65     | 0.06%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                             | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $19466.32     | 0.03%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                           | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAQ6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    130000 | PA      | $100682.18    | 0.15%             | 2052-03-15      | Fixed         | 5.14%                 | Yes           |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                           | Vistra Operations Co LLC                                                        | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44723.76     | 0.07%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CIGNA CORP                                         | Cigna Corp                                                                      | CUSIP: 125523CJ7<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    235000 | PA      | $182563.17    | 0.27%             | 2040-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Greenwood Park CLO, Ltd                            | Greenwood Park CLO Ltd                                                          | CUSIP: 39729RAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $245948.75    | 0.36%             | 2031-04-15      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                              | KKR CLO 11 Ltd                                                                  | CUSIP: 48250MAK3<br>LEI: 549300PJRIGYUE3V5M12 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $247436.50    | 0.36%             | 2031-01-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Park Avenue Institutional Advi                     | Park Avenue Institutional Advisers CLO Ltd 2019-2                               | CUSIP: 70018AAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $482546.00    | 0.70%             | 2034-10-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                      | Owens Corning                                                                   | CUSIP: 690742AK7<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    175000 | PA      | $158078.84    | 0.23%             | 2030-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NEXI SPA                                           | Nexi SpA                                                                        | CUSIP: 000000000<br>LEI: 5493000P70CQRQG8SN85 | Long             | DBT              | CORP              | IT        |    252000 | PA      | $212891.68    | 0.31%             | 2029-04-30      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                     | CSAIL 2019-C16 Commercial Mortgage Trust                                        | CUSIP: 12596WAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    232000 | PA      | $203248.68    | 0.30%             | 2052-06-15      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| CENOVUS ENERGY INC                                 | Cenovus Energy Inc                                                              | CUSIP: 15135UAX7<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $71570.62     | 0.10%             | 2052-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                       | Ecopetrol SA                                                                    | CUSIP: 279158AN9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     30000 | PA      | $26820.00     | 0.04%             | 2030-04-29      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                            | Jefferies Financial Group Inc                                                   | CUSIP: 47233JGT9<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    120000 | PA      | $91100.93     | 0.13%             | 2031-10-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                       | GS Mortgage Securities Corportation Trust 2021-IP                               | CUSIP: 36262MAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    180000 | PA      | $169215.28    | 0.25%             | 2036-10-15      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                   | Societe Generale SA                                                             | CUSIP: 83368RBH4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    195000 | PA      | $169133.93    | 0.25%             | 2028-01-19      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST UNIV REVENUES                          | Michigan State University                                                       | CUSIP: 594712WY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $33103.94     | 0.05%             | 2122-08-15      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                            | Sasol Financing USA LLC                                                         | CUSIP: 80386WAA3<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198010.00    | 0.29%             | 2024-03-27      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                    | United States Treasury Note/Bond                                                | CUSIP: 912810TC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2830000 | PA      | $2061478.13   | 3.00%             | 2041-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC                            | O'Reilly Automotive Inc                                                         | CUSIP: 67103HAL1<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48876.61     | 0.07%             | 2032-06-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Bank                                               | BANK 2021-BNK38                                                                 | CUSIP: 06540EAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $200372.58    | 0.29%             | 2064-12-15      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                         | CURRENCY CONTRACT - USD                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1851.03     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                    | CVS Health Corp                                                                 | CUSIP: 126650DP2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    130000 | PA      | $91305.94     | 0.13%             | 2040-08-21      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                               | Pilgrim's Pride Corp                                                            | CUSIP: 72147KAG3<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |     50000 | PA      | $40434.86     | 0.06%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                        | CURRENCY CONTRACT - USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-31169.15    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                    | United States Treasury Note/Bond                                                | CUSIP: 91282CDK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    160000 | PA      | $144212.50    | 0.21%             | 2026-11-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| RPM INTERNATIONAL INC                              | RPM International Inc                                                           | CUSIP: 749685AY9<br>LEI: 549300TJCKW4BRXPJ474 | Long             | DBT              | CORP              | US        |     20000 | PA      | $15956.13     | 0.02%             | 2032-01-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                | CUSIP: 3132DWE25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    129705 | PA      | $132882.70    | 0.19%             | 2052-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                             | Credit Suisse Group AG                                                          | CUSIP: 225401AZ1<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    270000 | PA      | $233436.01    | 0.34%             | 2033-08-12      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                     | Morgan Stanley Capital I Trust 2019-L2                                          | CUSIP: 61768HAV8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $298522.97    | 0.43%             | 2052-03-15      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                             | Williams Cos Inc/The                                                            | CUSIP: 969457CA6<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    145000 | PA      | $133156.68    | 0.19%             | 2052-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AKER BP ASA                                        | Aker BP ASA                                                                     | CUSIP: 55037AAA6<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $175075.26    | 0.25%             | 2026-07-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                       | Calpine Corp                                                                    | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     75000 | PA      | $61768.81     | 0.09%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                           | Liberty Mutual Group Inc                                                        | CUSIP: 53079EBG8<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    165000 | PA      | $154152.30    | 0.22%             | 2029-02-01      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2                     | BX Commercial Mortgage Trust 2019-XL                                            | CUSIP: 056054AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255000 | PA      | $244732.27    | 0.36%             | 2036-10-15      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                 | VICI Properties LP                                                              | CUSIP: 925650AB9<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |     60000 | PA      | $57092.08     | 0.08%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SUN COMMUNITIES OPER LP                            | Sun Communities Operating LP                                                    | CUSIP: 866677AF4<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              | CORP              | US        |    155000 | PA      | $128826.81    | 0.19%             | 2028-11-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| GREYSTAR REAL ESTATE PAR                           | Greystar Real Estate Partners LLC                                               | CUSIP: 39807UAB2<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29142.95     | 0.04%             | 2025-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                        | Hertz Vehicle Financing III LLC                                                 | CUSIP: 42806MAL3<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $88395.66     | 0.13%             | 2026-06-25      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                              | Scotts Miracle-Gro Co/The                                                       | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     50000 | PA      | $38352.93     | 0.06%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                 | Dominican Republic International Bond                                           | CUSIP: 25714PEP9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    150000 | PA      | $137934.38    | 0.20%             | 2029-02-22      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| STATE OF MINAS GERAIS                              | Brazil Minas SPE via State of Minas Gerais                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    120000 | PA      | $115560.00    | 0.17%             | 2028-02-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $124522.55    | 0.18%             | 2026-12-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| CORPORATE OFFICE PROP LP                           | Corporate Office Properties LP                                                  | CUSIP: 22003BAM8<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |    115000 | PA      | $87221.59     | 0.13%             | 2031-04-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                   | Puget Energy Inc                                                                | CUSIP: 745310AN2<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    145000 | PA      | $129929.60    | 0.19%             | 2032-03-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| FORTUNE BRANDS HOME & SE                           | Fortune Brands Home & Security Inc                                              | CUSIP: 34964CAE6<br>LEI: 54930032LHW54PQUJD44 | Long             | DBT              | CORP              | US        |    175000 | PA      | $151013.31    | 0.22%             | 2029-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Regatta XXIII Funding Ltd                          | Regatta XXIII Funding Ltd                                                       | CUSIP: 75889FAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $726261.75    | 1.06%             | 2035-01-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                           | CURRENCY CONTRACT - USD                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5574.08     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

**Name of Applicant:** PGIM ETF Trust

**Signature:** Christian J. Kelly

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

**Title:** Treasurer and Principal Financial and Accounting Officer