# EDGAR Filing Document

**Accession Number:** 0001727074
**File Stem:** 0000940400-26-002814
**Filing Date:** 2026-1
**Character Count:** 17540
**Document Hash:** 20c92bbcf79ec0b260aed3b8d462985c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-002814.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0000940400-26-002814

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251128

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23324
- **FILM NUMBER:** 26567144

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

### PGIM Portfolio Ballast ETF

### Schedule of Investments (unaudited)
as of November 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 85.8%** | **Long-Term Investments 85.8%** | **Long-Term Investments 85.8%** | **Long-Term Investments 85.8%** | **Long-Term Investments 85.8%** |
| **U.S. Treasury Obligations 46.1%** | **U.S. Treasury Obligations 46.1%** | **U.S. Treasury Obligations 46.1%** | **U.S. Treasury Obligations 46.1%** | **U.S. Treasury Obligations 46.1%** |
| U.S. Treasury Bonds | 4.125% | &nbsp;&nbsp;08/15/44 | &nbsp;&nbsp;1800 | &nbsp;&nbsp; $1688345 |
| U.S. Treasury Notes | 3.625 | &nbsp;&nbsp;09/30/31 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9968750 |
| U.S. Treasury Notes | 3.875 | &nbsp;&nbsp;08/15/34 | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1992500 |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;10/31/26 | &nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5822656 |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;10/31/29 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16331250 |
| **Total U.S. Treasury Obligations<br> (cost $35,271,563)** | **Total U.S. Treasury Obligations<br> (cost $35,271,563)** | **Total U.S. Treasury Obligations<br> (cost $35,271,563)** | **Total U.S. Treasury Obligations<br> (cost $35,271,563)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35803501 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Shares** |  |
| **Unaffiliated Exchange-Traded Funds 15.6%** | **Unaffiliated Exchange-Traded Funds 15.6%** | **Unaffiliated Exchange-Traded Funds 15.6%** |
| iShares Core S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129328 |
| Vanguard Extended Duration Treasury ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550640 |
| Vanguard Intermediate-Term Treasury ETF | &nbsp;&nbsp;&nbsp;111000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6711060 |
| Vanguard Long-Term Treasury ETF | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574000 |
| Vanguard S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2136594 |
| **Total Unaffiliated Exchange-Traded Funds<br> (cost $11,739,371)** | **Total Unaffiliated Exchange-Traded Funds<br> (cost $11,739,371)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12101622 |
| **Options Purchased\*~ 24.1%** | **Options Purchased\*~ 24.1%** | **Options Purchased\*~ 24.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;(cost $17,965,859) | &nbsp;&nbsp;&nbsp;&nbsp;(cost $17,965,859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18759072 |
| **Total Long-Term Investments<br> (cost $64,976,793)** | **Total Long-Term Investments<br> (cost $64,976,793)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66664195 |
| **Short-Term Investments 14.0%** | **Short-Term Investments 14.0%** | **Short-Term Investments 14.0%** |
| **Affiliated Mutual Fund 6.3%** |  |  |
| PGIM Core Government Money Market Fund (7-day effective yield 4.111%)<br> (cost $4,921,011)(wb) | &nbsp;&nbsp;4921011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4921011 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** |  |
| **U.S. Treasury Obligations(n) 7.7%** | **U.S. Treasury Obligations(n) 7.7%** | **U.S. Treasury Obligations(n) 7.7%** | **U.S. Treasury Obligations(n) 7.7%** | **U.S. Treasury Obligations(n) 7.7%** | **U.S. Treasury Obligations(n) 7.7%** |
| U.S. Treasury Bills | 3.833% | &nbsp;&nbsp;01/06/26 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3984816 |
| U.S. Treasury Bills | 4.052 | &nbsp;&nbsp;12/02/25 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1999784 |
| **Total U.S. Treasury Obligations<br> (cost $5,984,516)** | **Total U.S. Treasury Obligations<br> (cost $5,984,516)** | **Total U.S. Treasury Obligations<br> (cost $5,984,516)** | **Total U.S. Treasury Obligations<br> (cost $5,984,516)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5984600 |
| **Total Short-Term Investments<br> (cost $10,905,527)** | **Total Short-Term Investments<br> (cost $10,905,527)** | **Total Short-Term Investments<br> (cost $10,905,527)** | **Total Short-Term Investments<br> (cost $10,905,527)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10905611 |
| **TOTAL INVESTMENTS 99.8%<br> (cost $75,882,320)** | **TOTAL INVESTMENTS 99.8%<br> (cost $75,882,320)** | **TOTAL INVESTMENTS 99.8%<br> (cost $75,882,320)** | **TOTAL INVESTMENTS 99.8%<br> (cost $75,882,320)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77569806 |
| Other assets in excess of liabilities 0.2% | Other assets in excess of liabilities 0.2% | Other assets in excess of liabilities 0.2% | Other assets in excess of liabilities 0.2% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156404 |
| **Net Assets 100.0%** | **Net Assets 100.0%** | **Net Assets 100.0%** | **Net Assets 100.0%** |  | &nbsp;&nbsp;$77726210 |

---

------

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

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

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| # | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
| ~ | See tables subsequent to the Schedule of Investments for options detail. |
| (n) | Rate shown reflects yield to maturity at purchased date. |

---

------

### PGIM Portfolio Ballast ETF

### Schedule of Investments (unaudited) (continued)
as of November 30, 2025

(wb) Represents an investment in a Fund affiliated with the Manager.

#### Options Purchased :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** |
| **Description** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| SPDR S&P 500 ETF Trust &nbsp;&nbsp;Call | &nbsp;&nbsp;06/18/29 | &nbsp;&nbsp;$545.00 |  | &nbsp;&nbsp;335 |  | &nbsp;&nbsp;34 | &nbsp;&nbsp; $7674887 |
| SPDR S&P 500 ETF Trust &nbsp;&nbsp;Call | &nbsp;&nbsp;10/25/30 | &nbsp;&nbsp;$675.00 |  | &nbsp;&nbsp;635 |  | &nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;11084185 |
| **Total Options Purchased (cost $17,965,859)** | **Total Options Purchased (cost $17,965,859)** | **Total Options Purchased (cost $17,965,859)** | **Total Options Purchased (cost $17,965,859)** | **Total Options Purchased (cost $17,965,859)** | **Total Options Purchased (cost $17,965,859)** |  | &nbsp;&nbsp;$18759072 |

---

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Newark

  - **State:** NJ

  - **Foreign country:** US

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

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-28

**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:** $77755593.01

**Total Liabilities:** $28288.23

**Net Assets:** $77727304.78

**Cash Not Reported:** $1405.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.48967000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000239961 | 2.81%                | 1.86%                | 0.53%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $132985.04                                 |
| Month 2  | $5752.96                 | $101991.85                                 |
| Month 3  | $0.00                    | $177042.50                                 |

**Designated Index Information**

- **Index Name:** Blended Custom Benchmark

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                             | Title                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| X-CHANGE FINANCIAL ACCESS LLC                    | SPDR S&P 500 ETF TRUST                           | CUSIP: 000000000<br>LEI: 549300OVQ8PL5DTHB273 | N/A              | DE               | CORP              | US        |       335 | NC      | $7674886.85   | 9.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Vanguard Intermediate-Term Treasury ETF          | Vanguard Intermediate-Term Treasury ETF          | CUSIP: 92206C706<br>LEI: N/A                  | Long             | EC               | RF                | US        |    111000 | NS      | $6711060.00   | 8.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Long-Term Treasury ETF                  | Vanguard Long-Term Treasury ETF                  | CUSIP: 92206C847<br>LEI: N/A                  | Long             | EC               | RF                | US        |     10000 | NS      | $574000.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P 500 ETF                         | iShares Core S&P 500 ETF                         | CUSIP: 464287200<br>LEI: 5493007M4YMN8XL48C14 | Long             | EC               | RF                | US        |      3100 | NS      | $2129328.00   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard S&P 500 ETF                             | Vanguard S&P 500 ETF                             | CUSIP: 922908363<br>LEI: N/A                  | Long             | EC               | RF                | US        |      3400 | NS      | $2136594.00   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 91282CLM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9968750.00   | 12.83%            | 2031-09-30      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 91282CLS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5800000 | PA      | $5822656.25   | 7.49%             | 2026-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| X-CHANGE FINANCIAL ACCESS LLC                    | SPDR S&P 500 ETF TRUST                           | CUSIP: 000000000<br>LEI: 549300OVQ8PL5DTHB273 | N/A              | DE               | CORP              | US        |       635 | NC      | $11084185.35  | 14.26%            |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 91282CLR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16000000 | PA      | $16331250.00  | 21.01%            | 2029-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1800000 | PA      | $1688343.75   | 2.17%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| (PIPA070) PGIM Core Government Money Market Fund | (PIPA070) PGIM Core Government Money Market Fund | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   4896758 | NS      | $4896757.79   | 6.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                    | United States Treasury Bill                      | CUSIP: 912797SE8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3984816.00   | 5.13%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1992500.00   | 2.56%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                    | United States Treasury Bill                      | CUSIP: 912797RR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1999783.99   | 2.57%             | 2025-12-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Vanguard Extended Duration Treasury ETF          | Vanguard Extended Duration Treasury ETF          | CUSIP: 921910709<br>LEI: N/A                  | Long             | EC               | RF                | US        |      8000 | NS      | $550640.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-27

**Name of Applicant:** PGIM ETF Trust

**Signature:** Christian J. Kelly

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

**Title:** Chief Financial Officer