# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-26-002578
**Filing Date:** 2026-2
**Character Count:** 56503
**Document Hash:** bdb820ca44588bef18c933d8a0a93254
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-002578.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001099263-26-002578

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Exchange-Traded Funds, Inc.
- **CENTRAL INDEX KEY:** 0001795351

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 26686624

**BUSINESS ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231

## Series and Classes Contracts Data

### T. Rowe Price Value ETF (Series ID: S000079838)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000241226 | T. Rowe Price Value ETF | TVAL            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-23494

- **c. CIK number of Registrant:** 0001795351

- **d. LEI of Registrant:** 549300XZPUK24E1UMH17

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

  - **Street Address 1:** 1307 Point Street

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

  - **Telephone number:** 410-345-2000

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

- **a. Name of Series:** T. Rowe Price Value ETF

- **b. EDGAR series identifier (if any):** S000079838

- **c. LEI of Series:** 254900FB582WEGSQA031

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

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

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $524137997.74

**Total Liabilities:** $2914235.34

**Net Assets:** $521223762.40

**Cash Not Reported:** $27.75

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241226 | 0.67%                | 2.36%                | 1.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $209903.94               | $683823.90                                 |
| Month 2  | $-2599356.10             | $14002274.02                               |
| Month 3  | $4447366.79              | $1936311.92                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABBOTT LABORATORIES               | ABBOTT LABORATORIES COMMON STOCK                           | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     20418 | NS      | $2558171.22   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                        | ABBVIE INC COMMON STOCK USD.01                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      5550 | NS      | $1268119.50   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES            | ADVANCED MICRO DEVICES COMMON STOCK USD.01                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     26686 | NS      | $5715073.76   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORP                         | AGCO CORP COMMON STOCK USD.01                              | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     22666 | NS      | $2364517.12   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| AGILENT TECHNOLOGIES INC          | AGILENT TECHNOLOGIES INC COMMON STOCK USD.01               | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      8341 | NS      | $1134959.87   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP                     | ALLSTATE CORP COMMON STOCK USD.01                          | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     24713 | NS      | $5144010.95   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC CL C                 | ALPHABET INC CL C COMMON STOCK USD.001                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     72944 | NS      | $22889827.20  | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                    | AMAZON.COM INC COMMON STOCK USD.01                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     53214 | NS      | $12282855.48  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORPORATION                | AMEREN CORPORATION COMMON STOCK USD.01                     | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     46635 | NS      | $4656971.10   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO               | AMERICAN EXPRESS CO COMMON STOCK USD.2                     | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      5884 | NS      | $2176785.80   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP      | AMERICAN INTERNATIONAL GROUP COMMON STOCK USD2.5           | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     27845 | NS      | $2382139.75   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK INC                        | AMETEK INC COMMON STOCK USD.01                             | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      7813 | NS      | $1604087.03   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORP-CL A                | AMPHENOL CORP CL A COMMON STOCK USD.001                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     14199 | NS      | $1918852.86   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ANALOG DEVICES INC                | ANALOG DEVICES INC COMMON STOCK USD.167                    | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      9969 | NS      | $2703592.80   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT INC      | APOLLO GLOBAL MANAGEMENT INC COMMON STOCK USD.0001         | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |      6580 | NS      | $952520.80    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC             | APPLIED MATERIALS INC COMMON STOCK USD.01                  | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     20121 | NS      | $5170895.79   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES MANAGEMENT CORP              | ARES MANAGEMENT CORP   A COMMON STOCK                      | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |     15001 | NS      | $2424611.63   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC-SPONS ADR         | ASTRAZENECA PLC SPONS ADR ADR                              | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     32827 | NS      | $3017786.11   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                          | AT+T INC COMMON STOCK USD1.0                               | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     79857 | NS      | $1983647.88   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ATMOS ENERGY CORP                 | ATMOS ENERGY CORP COMMON STOCK                             | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      6925 | NS      | $1160837.75   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOZONE INC                      | AUTOZONE INC COMMON STOCK USD.01                           | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       476 | NS      | $1614354.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AVALONBAY COMMUNITIES INC         | AVALONBAY COMMUNITIES INC REIT USD.01                      | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     26441 | NS      | $4794017.71   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP              | BANK OF AMERICA CORP COMMON STOCK USD.01                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    216200 | NS      | $11891000.00  | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP      | BANK OF NEW YORK MELLON CORP COMMON STOCK USD.01           | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     12937 | NS      | $1501856.33   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BECTON DICKINSON AND CO           | BECTON DICKINSON AND CO COMMON STOCK USD1.0                | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     10764 | NS      | $2088969.48   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK INC                     | BLACKROCK INC COMMON STOCK USD.01                          | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      2645 | NS      | $2831049.30   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO/THE                     | BOEING CO/THE COMMON STOCK USD5.0                          | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |     23708 | NS      | $5147480.96   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORP            | BOSTON SCIENTIFIC CORP COMMON STOCK USD.01                 | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     18729 | NS      | $1785810.15   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP        | CAPITAL ONE FINANCIAL CORP COMMON STOCK USD.01             | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     10373 | NS      | $2514000.28   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC                   | CATERPILLAR INC COMMON STOCK USD1.0                        | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      5089 | NS      | $2915335.43   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS INC           | CBOE GLOBAL MARKETS INC COMMON STOCK                       | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      4223 | NS      | $1059973.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP INC - A                | CBRE GROUP INC   A COMMON STOCK USD.01                     | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      7976 | NS      | $1282461.04   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA INC                       | CENCORA INC COMMON STOCK USD.01                            | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      5386 | NS      | $1819121.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS INC        | CF INDUSTRIES HOLDINGS INC COMMON STOCK USD.01             | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     29697 | NS      | $2296765.98   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                      | CHEVRON CORP COMMON STOCK USD.75                           | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21026 | NS      | $3204572.66   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CHUBB LTD                         | CHUBB LTD COMMON STOCK                                     | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     28077 | NS      | $8763393.24   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                     | CITIGROUP INC COMMON STOCK USD.01                          | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     73180 | NS      | $8539374.20   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC                     | CME GROUP INC COMMON STOCK USD.01                          | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      9415 | NS      | $2571048.20   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA-COLA CO/THE                  | COCA COLA CO/THE COMMON STOCK USD.25                       | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     42755 | NS      | $2989002.05   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE CO              | COLGATE PALMOLIVE CO COMMON STOCK USD1.0                   | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     64545 | NS      | $5100345.90   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                    | CONOCOPHILLIPS COMMON STOCK USD.01                         | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     73933 | NS      | $6920868.13   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY              | CONSTELLATION ENERGY COMMON STOCK                          | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      4642 | NS      | $1639879.34   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX CORP                          | CSX CORP COMMON STOCK USD1.0                               | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    209213 | NS      | $7583971.25   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC                       | CUMMINS INC COMMON STOCK USD2.5                            | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      8755 | NS      | $4468989.75   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORP                   | CVS HEALTH CORP COMMON STOCK USD.01                        | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     62592 | NS      | $4967301.12   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                      | DANAHER CORP COMMON STOCK USD.01                           | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      9247 | NS      | $2116823.24   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DEERE & CO                        | DEERE + CO COMMON STOCK USD1.0                             | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      6066 | NS      | $2824147.62   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY INC            | DIAMONDBACK ENERGY INC COMMON STOCK USD.01                 | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      5509 | NS      | $828167.97    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY COMPANY                | DTE ENERGY COMPANY COMMON STOCK                            | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      7161 | NS      | $923625.78    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORP PLC                    | EATON CORP PLC COMMON STOCK USD.01                         | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      4860 | NS      | $1547958.60   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC                        | ECOLAB INC COMMON STOCK USD1.0                             | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      5535 | NS      | $1453048.20   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC               | ELEVANCE HEALTH INC COMMON STOCK USD.01                    | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     19009 | NS      | $6663604.95   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY & CO                    | ELI LILLY + CO COMMON STOCK                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1893 | NS      | $2034369.24   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY CORP                      | ENTERGY CORP COMMON STOCK USD.01                           | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     27364 | NS      | $2529254.52   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES INC                 | EOG RESOURCES INC COMMON STOCK USD.01                      | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     23207 | NS      | $2436967.07   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT CORP                          | EQT CORP COMMON STOCK                                      | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     35001 | NS      | $1876053.60   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX INC                       | EQUINIX INC REIT USD.001                                   | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1870 | NS      | $1432719.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS INC            | EQUITABLE HOLDINGS INC COMMON STOCK USD.01                 | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     54789 | NS      | $2610695.85   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ESTEE LAUDER COMPANIES-CL A       | ESTEE LAUDER COMPANIES CL A COMMON STOCK USD.01            | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |     17236 | NS      | $1804953.92   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORP                | EXPAND ENERGY CORP COMMON STOCK USD.01                     | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     19161 | NS      | $2114607.96   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                  | EXXON MOBIL CORP COMMON STOCK                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     83398 | NS      | $10036115.32  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| FERGUSON ENTERPRISES INC          | FERGUSON ENTERPRISES INC COMMON STOCK USD.0001             | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |      7999 | NS      | $1780817.37   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP               | FIFTH THIRD BANCORP COMMON STOCK                           | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     21596 | NS      | $1010908.76   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTIVE CORP                      | FORTIVE CORP COMMON STOCK USD.01                           | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     72984 | NS      | $4029446.64   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| FREEPORT-MCMORAN INC              | FREEPORT MCMORAN INC COMMON STOCK USD.1                    | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     38435 | NS      | $1952113.65   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| GE VERNOVA LLC                    | GE VERNOVA INC COMMON STOCK USD.01                         | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      2079 | NS      | $1358772.03   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Aerospace                      | GENERAL ELECTRIC COMMON STOCK USD.01                       | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     16601 | NS      | $5113606.03   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC               | GILEAD SCIENCES INC COMMON STOCK USD.001                   | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     21479 | NS      | $2636332.46   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD INSURANCE GROUP INC/T    | HARTFORD INSURANCE GROUP INC COMMON STOCK USD.01           | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     37209 | NS      | $5127400.20   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA HEALTHCARE INC                | HCA HEALTHCARE INC COMMON STOCK USD.01                     | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      5535 | NS      | $2584070.10   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HOLDINGS INC     | HILTON WORLDWIDE HOLDINGS IN COMMON STOCK USD.01           | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      5308 | NS      | $1524723.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                    | HOME DEPOT INC COMMON STOCK USD.05                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     17094 | NS      | $5882045.40   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWMET AEROSPACE INC              | HOWMET AEROSPACE INC COMMON STOCK                          | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     10460 | NS      | $2144509.20   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| HUBBELL INC                       | HUBBELL INC COMMON STOCK USD.01                            | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      3241 | NS      | $1439360.51   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES INC         | HUNTINGTON BANCSHARES INC COMMON STOCK USD.01              | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    148448 | NS      | $2575572.80   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORP                        | INTEL CORP COMMON STOCK USD.001                            | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     58654 | NS      | $2164332.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL PAPER CO            | INTERNATIONAL PAPER CO COMMON STOCK USD1.0                 | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |     79665 | NS      | $3138004.35   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                 | JOHNSON + JOHNSON COMMON STOCK USD1.0                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     31639 | NS      | $6547691.05   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN CHASE & CO.           | JPMORGAN CHASE + CO COMMON STOCK USD1.0                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     30323 | NS      | $9770677.06   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES IN          | KEYSIGHT TECHNOLOGIES IN COMMON STOCK USD.01               | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |     19251 | NS      | $3911610.69   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| KINROSS GOLD CORP                 | KINROSS GOLD CORP COMMON STOCK                             | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |     31962 | NS      | $900049.92    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC         | L3HARRIS TECHNOLOGIES INC COMMON STOCK USD1.0              | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     23202 | NS      | $6811411.14   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMAR ADVERTISING CO-A            | LAMAR ADVERTISING CO A REIT USD.001                        | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      8087 | NS      | $1023652.46   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| LAS VEGAS SANDS CORP              | LAS VEGAS SANDS CORP COMMON STOCK USD.001                  | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     30255 | NS      | $1969297.95   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                         | LINDE PLC COMMON STOCK                                     | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     12210 | NS      | $5206221.90   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT INTERNATIONAL -CL A      | MARRIOTT INTERNATIONAL  CL A COMMON STOCK USD.01           | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      6538 | NS      | $2028349.12   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH & MCLENNAN COS              | MARSH + MCLENNAN COS COMMON STOCK USD1.0                   | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     11312 | NS      | $2098602.24   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDONALD S CORP                   | MCDONALD S CORP COMMON STOCK USD.01                        | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      9011 | NS      | $2754031.93   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORP                     | MCKESSON CORP COMMON STOCK USD.01                          | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      2338 | NS      | $1917838.02   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO. INC.                  | MERCK + CO. INC. COMMON STOCK USD.5                        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     37721 | NS      | $3970512.46   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC-CLASS A        | META PLATFORMS INC CLASS A COMMON STOCK USD.000006         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      7732 | NS      | $5103815.88   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC                       | METLIFE INC COMMON STOCK USD.01                            | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     61321 | NS      | $4840679.74   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY INC             | MICRON TECHNOLOGY INC COMMON STOCK USD.1                   | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     19415 | NS      | $5541235.15   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                    | MICROSOFT CORP COMMON STOCK USD.00000625                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      7959 | NS      | $3849131.58   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| MIDDLEBY CORP                     | MIDDLEBY CORP COMMON STOCK USD.01                          | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |     14948 | NS      | $2222319.16   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                    | MORGAN STANLEY COMMON STOCK USD.01                         | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     26412 | NS      | $4688922.36   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA  SOLUTIONS INC           | MOTOROLA SOLUTIONS INC COMMON STOCK USD.01                 | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      3563 | NS      | $1365769.16   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC                | NEXTERA ENERGY INC COMMON STOCK USD.01                     | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     30012 | NS      | $2409363.36   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHROP GRUMMAN CORP             | NORTHROP GRUMMAN CORP COMMON STOCK USD1.0                  | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      3336 | NS      | $1902220.56   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PARKER HANNIFIN CORP              | PARKER HANNIFIN CORP COMMON STOCK USD.5                    | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      3491 | NS      | $3068449.36   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL       | PHILIP MORRIS INTERNATIONAL COMMON STOCK                   | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     48514 | NS      | $7781645.60   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER & GAMBLE CO/THE           | PROCTER + GAMBLE CO/THE COMMON STOCK                       | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     55504 | NS      | $7954278.24   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESSIVE CORP                  | PROGRESSIVE CORP COMMON STOCK USD1.0                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      7932 | NS      | $1806275.04   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS INC                      | PROLOGIS INC REIT USD.01                                   | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     13192 | NS      | $1684090.72   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                    | PUBLIC STORAGE REIT USD.1                                  | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      5872 | NS      | $1523784.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INC                      | QUALCOMM INC COMMON STOCK USD.0001                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     32809 | NS      | $5611979.45   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| QUEST DIAGNOSTICS INC             | QUEST DIAGNOSTICS INC COMMON STOCK USD.01                  | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      7800 | NS      | $1353534.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS         | REGENERON PHARMACEUTICALS COMMON STOCK USD.001             | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      1428 | NS      | $1102230.36   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| REXFORD INDUSTRIAL REALTY IN      | REXFORD INDUSTRIAL REALTY IN REIT USD.01                   | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     46682 | NS      | $1807527.04   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBINHOOD MARKETS INC - A         | ROBINHOOD MARKETS INC   A COMMON STOCK USD.0001            | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     12385 | NS      | $1400743.50   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKWELL AUTOMATION INC           | ROCKWELL AUTOMATION INC COMMON STOCK USD1.0                | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      8210 | NS      | $3194264.70   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM INTERNATIONAL INC             | RPM INTERNATIONAL INC COMMON STOCK USD.01                  | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     12419 | NS      | $1291576.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P GLOBAL INC                    | S+P GLOBAL INC COMMON STOCK USD1.0                         | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      5378 | NS      | $2810489.02   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                    | SALESFORCE INC COMMON STOCK USD.001                        | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     22188 | NS      | $5877823.08   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG ELECTRONICS GDR REGS      | SAMSUNG ELECTR GDR REG S GDR                               | CUSIP: 796050896<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      2574 | NS      | $5288444.19   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SCHWAB (CHARLES) CORP             | SCHWAB (CHARLES) CORP COMMON STOCK USD.01                  | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    100431 | NS      | $10034061.21  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMPRA                            | SEMPRA COMMON STOCK                                        | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     39952 | NS      | $3527362.08   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS AG-SPONS ADR              | SIEMENS AG SPONS ADR ADR                                   | CUSIP: 826197501<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     19849 | NS      | $2777867.55   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB LTD                           | SLB LTD COMMON STOCK USD.01                                | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     68582 | NS      | $2632177.16   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO/THE                   | SOUTHERN CO/THE COMMON STOCK USD5.0                        | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     76005 | NS      | $6627636.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| STANLEY BLACK & DECKER INC        | STANLEY BLACK + DECKER INC COMMON STOCK USD2.5             | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     30332 | NS      | $2253060.96   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET INS US GO MM FD-IS   | STATE STREET INSTITUTIONAL US STATE ST INST US GOV MM PREM | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   1527300 | NS      | $1527300.21   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| STEEL DYNAMICS INC                | STEEL DYNAMICS INC COMMON STOCK USD.005                    | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      9755 | NS      | $1652984.75   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORP                      | STRYKER CORP COMMON STOCK USD.1                            | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      6500 | NS      | $2284555.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US INC                   | T MOBILE US INC COMMON STOCK USD.0001                      | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     19257 | NS      | $3909941.28   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR-SP ADR       | TAIWAN SEMICONDUCTOR SP ADR ADR                            | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      7603 | NS      | $2310475.67   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX CORP                    | TD SYNNEX CORP COMMON STOCK USD.001                        | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      5030 | NS      | $755656.90    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TE CONNECTIVITY PLC               | TE CONNECTIVITY PLC COMMON STOCK USD.01                    | CUSIP: G87052109<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |     13174 | NS      | $2997216.74   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS INSTRUMENTS INC             | TEXAS INSTRUMENTS INC COMMON STOCK USD1.0                  | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     22632 | NS      | $3926425.68   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA GROUP/THE                   | THE CIGNA GROUP COMMON STOCK USD.01                        | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      9952 | NS      | $2739088.96   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC      | THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0           | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      7380 | NS      | $4276341.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX COMPANIES INC                 | TJX COMPANIES INC COMMON STOCK USD1.0                      | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     14991 | NS      | $2302767.51   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc            | TKO GROUP HOLDINGS INC COMMON STOCK USD.00001              | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6177 | NS      | $1290993.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE                  | TOTALENERGIES SE COMMON STOCK EUR2.5                       | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     46469 | NS      | $3040001.98   | 0.58%             |  |  |  | No            |                  1 | On Loan: —       |
| TPG INC                           | TPG INC COMMON STOCK                                       | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |     19002 | NS      | $1213087.68   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM GROUP INC               | TRANSDIGM GROUP INC COMMON STOCK USD.01                    | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1225 | NS      | $1629066.25   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| GRS - SECURITY LENDING COLLATERAL | TREASURY RESERVE FUND - Collateral                         | CUSIP: 76105YYY9<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | STIV             | RF                | US        |   2763116 | NS      | $2763116.25   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC            | UNITEDHEALTH GROUP INC COMMON STOCK USD.01                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     15777 | NS      | $5208145.47   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                        | US BANCORP COMMON STOCK USD.01                             | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    115176 | NS      | $6145791.36   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP             | US FOODS HOLDING CORP COMMON STOCK USD.01                  | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |     15603 | NS      | $1175217.96   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS INC                        | VENTAS INC REIT USD.25                                     | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     10071 | NS      | $779293.98    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC        | VERIZON COMMUNICATIONS INC COMMON STOCK USD.1              | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     36623 | NS      | $1491654.79   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INC        | VERTEX PHARMACEUTICALS INC COMMON STOCK USD.01             | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      2956 | NS      | $1340132.16   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTIV HOLDINGS CO-A              | VERTIV HOLDINGS CO A COMMON STOCK USD.0001                 | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      5125 | NS      | $830301.25    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| VIATRIS INC                       | VIATRIS INC COMMON STOCK                                   | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    229883 | NS      | $2862043.35   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| VIKING HOLDINGS LTD               | VIKING HOLDINGS LTD COMMON STOCK USD.01                    | CUSIP: G93A5A101<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     15365 | NS      | $1097214.65   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC                       | WALMART INC COMMON STOCK USD.1                             | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     67342 | NS      | $7502572.22   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| WALT DISNEY CO/THE                | WALT DISNEY CO/THE COMMON STOCK USD.01                     | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     30443 | NS      | $3463500.11   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & CO                  | WELLS FARGO + CO COMMON STOCK USD1.666                     | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    100188 | NS      | $9337521.60   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| WEYERHAEUSER CO                   | WEYERHAEUSER CO REIT USD1.25                               | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    109695 | NS      | $2598674.55   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS COS INC                  | WILLIAMS COS INC COMMON STOCK USD1.0                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     32936 | NS      | $1979782.96   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WW GRAINGER INC                   | WW GRAINGER INC COMMON STOCK USD.5                         | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |      1036 | NS      | $1045375.80   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| XCEL ENERGY INC                   | XCEL ENERGY INC COMMON STOCK USD2.5                        | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     23708 | NS      | $1751072.88   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS INC        | ZIMMER BIOMET HOLDINGS INC COMMON STOCK USD.01             | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     29271 | NS      | $2632048.32   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President