# EDGAR Filing Document

**Accession Number:** 0001727074
**File Stem:** 0000940400-26-002818
**Filing Date:** 2026-1
**Character Count:** 400629
**Document Hash:** 3a289f64b51db69a951a4f62a0e7d190
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-002818.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0000940400-26-002818

**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:** 26567150

**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 Ultra Short Bond ETF (Series ID: S000061589)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000199488 | PGIM Ultra Short Bond ETF | PULS            |

## Nport-Ex

### PGIM Ultra Short Bond 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 82.0%** | **Long-Term Investments 82.0%** | **Long-Term Investments 82.0%** | **Long-Term Investments 82.0%** | **Long-Term Investments 82.0%** |
| **Asset-Backed Securities 21.2%** | **Asset-Backed Securities 21.2%** | **Asset-Backed Securities 21.2%** | **Asset-Backed Securities 21.2%** | **Asset-Backed Securities 21.2%** |
| **Automobiles 1.9%** | **Automobiles 1.9%** | **Automobiles 1.9%** | **Automobiles 1.9%** | **Automobiles 1.9%** |
| ARI Fleet Lease Trust,<br> Series 2024-A, Class A2, 144A | 5.300% | &nbsp;&nbsp;11/15/32 | &nbsp;&nbsp;3190 | &nbsp;&nbsp; $3208977 |
| Avis Budget Rental Car Funding AESOP LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-01A, Class A, 144A | 3.830 | &nbsp;&nbsp;08/21/28 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34852268 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-03A, Class A, 144A | 4.620 | &nbsp;&nbsp;02/20/27 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17506025 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-03A, Class A, 144A | 5.440 | &nbsp;&nbsp;02/22/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20249660 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-07A, Class A, 144A | 5.900 | &nbsp;&nbsp;08/21/28 | &nbsp;&nbsp;6650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6817795 |
| Enterprise Fleet Financing LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-03, Class A2, 144A | 4.380 | &nbsp;&nbsp;07/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48436 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01, Class A2, 144A | 5.510 | &nbsp;&nbsp;01/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809682 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-02, Class A2, 144A | 5.560 | &nbsp;&nbsp;04/22/30 | &nbsp;&nbsp;2498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2512008 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-03, Class A2, 144A | 6.400 | &nbsp;&nbsp;03/20/30 | &nbsp;&nbsp;6317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6401785 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01, Class A2, 144A | 5.230 | &nbsp;&nbsp;03/20/30 | &nbsp;&nbsp;3369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3393947 |
| Ford Credit Auto Owner Trust,<br> Series 2021-02, Class A, 144A | 1.530 | &nbsp;&nbsp;05/15/34 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34180178 |
| Ford Credit Floorplan Master Owner Trust,<br> Series 2023-01, Class A1, 144A | 4.920 | &nbsp;&nbsp;05/15/28 | 17100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17159853 |
| GMF Floorplan Owner Revolving Trust,<br> Series 2024-03A, Class A1, 144A | 4.680 | &nbsp;&nbsp;11/15/28 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25169103 |
| OneMain Direct Auto Receivables Trust,<br> Series 2023-01A, Class A, 144A | 5.410 | &nbsp;&nbsp;11/14/29 | 17100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17250261 |
| Toyota Auto Loan Extended Note Trust,<br> Series 2021-01A, Class A, 144A | 1.070 | &nbsp;&nbsp;02/27/34 | 56600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56185948 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245745926 |
| **Collateralized Loan Obligations 18.5%** | **Collateralized Loan Obligations 18.5%** | **Collateralized Loan Obligations 18.5%** | **Collateralized Loan Obligations 18.5%** | **Collateralized Loan Obligations 18.5%** |
| AGL CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13A, Class A1R, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 4.984(c) | &nbsp;&nbsp;10/20/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50020060 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-22A, Class A1R, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) | 5.074(c) | &nbsp;&nbsp;01/20/37 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50020830 |
| Allegany Park CLO Ltd. (Cayman Islands),<br> Series 2019-01A, Class ARR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 4.984(c) | &nbsp;&nbsp;01/20/35 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20008050 |
| Apidos CLO (Cayman Islands),<br> Series 2016-25A, Class A1R3, 144A, 3 Month SOFR + 1.140% (Cap N/A, Floor 1.140%) | 5.024(c) | &nbsp;&nbsp;01/20/37 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19990974 |
| ARES CLO Ltd. (Cayman Islands),<br> Series 2017-44A, Class A1RR, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) | 5.035(c) | &nbsp;&nbsp;04/15/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49999065 |
| Atlas Senior Loan Fund Ltd. (Cayman Islands),<br> Series 2021-17A, Class AR, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) | 4.944(c) | &nbsp;&nbsp;10/20/34 | 42500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42500000 |
| Balboa Bay Loan Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-02A, Class A1R, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) | 5.014(c) | &nbsp;&nbsp;01/20/35 | 24070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24072518 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class ARR, 144A, 3 Month SOFR + 1.160% (Cap N/A, Floor 1.160%) | 5.044(c) | &nbsp;&nbsp;04/20/36 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39999384 |
| Ballyrock CLO Ltd. (Cayman Islands),<br> Series 2020-02A, Class A1R, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 1.010%) | 5.156(c) | &nbsp;&nbsp;10/20/31 | 12250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12257455 |
| Battalion CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-11A, Class AR2, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) | 4.995(c) | &nbsp;&nbsp;04/24/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49971595 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-12A, Class ARR, 144A, 3 Month SOFR + 0.930% (Cap N/A, Floor 0.930%) | 4.782(c) | &nbsp;&nbsp;05/17/31 | 12314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12310555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-18A, Class ARR, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) | 5.085(c) | &nbsp;&nbsp;10/15/36 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49981045 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-21A, Class AR, 144A, 3 Month SOFR + 1.150% (Cap N/A, Floor 1.150%) | 5.055(c) | &nbsp;&nbsp;07/15/34 | 38000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37981027 |
| Benefit Street Partners CLO Ltd. (Cayman Islands),<br> Series 2021-23A, Class A1R, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 4.958(c) | &nbsp;&nbsp;04/25/34 | 70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69992923 |
| BlueMountain CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-22A, Class A1, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%) | 5.246(c) | &nbsp;&nbsp;07/15/31 | &nbsp;&nbsp;3586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3585895 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-32A, Class AR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.005(c) | &nbsp;&nbsp;10/15/34 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14999715 |
| Canyon Capital CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-01A, Class AR, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 0.000%) | 5.236(c) | &nbsp;&nbsp;07/15/31 | &nbsp;&nbsp;8010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8013570 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-01A, Class AR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | 5.166(c) | &nbsp;&nbsp;07/15/30 | &nbsp;&nbsp;6165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6164836 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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)** |
| **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.)** |
| Canyon CLO Ltd. (Cayman Islands),<br> Series 2020-02A, Class AR2, 144A, 3 Month SOFR + 1.030% (Cap N/A, Floor 1.030%) | 4.935 %(c) | &nbsp;&nbsp;10/15/34 | 20000 | &nbsp;&nbsp; $19986296 |
| CarVal CLO Ltd. (Cayman Islands),<br> Series 2019-01A, Class AR2, 144A, 3 Month SOFR + 1.020% (Cap N/A, Floor 1.020%) | 4.904(c) | &nbsp;&nbsp;04/20/32 | 42873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42852335 |
| CBAM Ltd. (Cayman Islands),<br> Series 2018-07A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | 5.246(c) | &nbsp;&nbsp;07/20/31 | &nbsp;&nbsp;2821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2821150 |
| CIFC Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-04A, Class A1R, 144A, 3 Month SOFR + 1.212% (Cap N/A, Floor 0.950%) | 5.077(c) | &nbsp;&nbsp;10/24/30 | &nbsp;&nbsp;4669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4668607 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-07A, Class AR, 144A, 3 Month SOFR + 1.090% (Cap N/A, Floor 1.090%) | 4.950(c) | &nbsp;&nbsp;01/23/35 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50023675 |
| Clover CLO LLC,<br> Series 2021-03A, Class AR, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) | 4.928(c) | &nbsp;&nbsp;01/25/35 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15998413 |
| Columbia Cent CLO Ltd. (Cayman Islands),<br> Series 2020-29A, Class A1RR, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) | 5.064(c) | &nbsp;&nbsp;10/20/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49979790 |
| CQS US CLO Ltd. (Cayman Islands),<br> Series 2021-01A, Class AR, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) | 5.084(c) | &nbsp;&nbsp;01/20/35 | 11225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11222812 |
| Elevation CLO Ltd. (Cayman Islands),<br> Series 2021-13A, Class A1R, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) | 4.965(c) | &nbsp;&nbsp;07/15/34 | 62500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62469262 |
| Galaxy CLO Ltd. (Cayman Islands),<br> Series 2018-25A, Class A1RR, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) | 4.968(c) | &nbsp;&nbsp;04/25/36 | 54000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53994060 |
| Greywolf CLO Ltd. (Cayman Islands),<br> Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.440% (Cap N/A, Floor 1.440%) | 5.324(c) | &nbsp;&nbsp;10/20/31 | &nbsp;&nbsp;1662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661564 |
| Highbridge Loan Management Ltd. (Cayman Islands),<br> Series 05A-2015, Class A1R3, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) | 4.965(c) | &nbsp;&nbsp;10/15/30 | &nbsp;&nbsp;9545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9542047 |
| HPS Loan Management Ltd. (Cayman Islands),<br> Series 10A-16, Class A1R3, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) | 5.004(c) | &nbsp;&nbsp;04/20/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49999000 |
| ICG US CLO Ltd. (Cayman Islands),<br> Series 2020-01A, Class ARR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 4.984(c) | &nbsp;&nbsp;01/20/35 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50009500 |
| Jamestown CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-09A, Class A1R3, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) | 5.038(c) | &nbsp;&nbsp;07/25/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49994995 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-14A, Class A1RR, 144A, 3 Month SOFR + 1.040% (Cap N/A, Floor 1.040%) | 4.924(c) | &nbsp;&nbsp;10/20/34 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39960296 |
| Jefferson Mill CLO Ltd. (Cayman Islands),<br> Series 2015-01A, Class ARR, 144A, 3 Month SOFR + 1.230% (Cap N/A, Floor 0.000%) | 5.114(c) | &nbsp;&nbsp;10/20/31 | &nbsp;&nbsp;7775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7778766 |
| KKR CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 11, Class AR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%) | 5.346(c) | &nbsp;&nbsp;01/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-41A, Class A1, 144A, 3 Month SOFR + 1.330% (Cap N/A, Floor 1.330%) | 5.235(c) | &nbsp;&nbsp;04/15/35 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50004945 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 40A, Class AR, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 5.184(c) | &nbsp;&nbsp;10/20/34 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14999707 |
| LCM Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 31A, Class AR, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) | 5.164(c) | &nbsp;&nbsp;07/20/34 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10001918 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 34A, Class A1R, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) | 5.064(c) | &nbsp;&nbsp;10/20/34 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000484 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 39A, Class A1R, 144A, 3 Month SOFR + 1.340% (Cap N/A, Floor 1.340%) | 5.245(c) | &nbsp;&nbsp;10/15/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50040200 |
| Madison Park Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-45A, Class ARR, 144A, 3 Month SOFR + 1.080% (Cap N/A, Floor 1.080%) | 4.985(c) | &nbsp;&nbsp;07/15/34 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17008500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-48A, Class A, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.412%) | 5.296(c) | &nbsp;&nbsp;04/19/33 | 11771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11776093 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-52A, Class AR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 4.957(c) | &nbsp;&nbsp;01/22/35 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25006072 |
| Marathon CLO Ltd. (Cayman Islands),<br> Series 2021-16A, Class A1AR, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) | 5.015(c) | &nbsp;&nbsp;04/15/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49971980 |
| Mountain View CLO Ltd. (Cayman Islands),<br> Series 2013-01A, Class ARR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | 5.173(c) | &nbsp;&nbsp;10/12/30 | &nbsp;&nbsp;2493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493205 |
| Northwoods Capital Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-15A, Class A1RR, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) | 5.053(c) | &nbsp;&nbsp;06/20/34 | 52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-12BA, Class AR, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) | 5.228(c) | &nbsp;&nbsp;06/15/31 | &nbsp;&nbsp;8033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8036995 |
| OCP CLO Ltd. (Cayman Islands),<br> Series 2015-09A, Class AR3, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.005(c) | &nbsp;&nbsp;01/15/37 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24983272 |
| Octagon Ltd. (Cayman Islands),<br> Series 2022-01A, Class A1R, 144A, 3 Month SOFR + 1.260% (Cap N/A, Floor 1.260%) | 5.130(c) | &nbsp;&nbsp;07/21/35 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50038865 |
| Palmer Square CLO Ltd. (Cayman Islands),<br> Series 2015-01A, Class A1A5, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) | 4.918(c) | &nbsp;&nbsp;05/21/34 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24999355 |
| Palmer Square Loan Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-03A, Class A1AR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.005(c) | &nbsp;&nbsp;04/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337277 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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)** |
| **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.)** |
| Palmer Square Loan Funding Ltd. (Cayman Islands), (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01A, Class A1, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) | 4.955 %(c) | &nbsp;&nbsp;10/15/32 | &nbsp;&nbsp;6242 | &nbsp;&nbsp; $6242458 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-02A, Class A1N, 144A, 3 Month SOFR + 1.000% (Cap N/A, Floor 1.000%) | 4.905(c) | &nbsp;&nbsp;01/15/33 | 18888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18878364 |
| Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands),<br> Series 2017-01A, Class A1R2, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) | 4.923(c) | &nbsp;&nbsp;02/14/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49980860 |
| PPM CLO Ltd. (Cayman Islands),<br> Series 2018-01A, Class A, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | 5.316(c) | &nbsp;&nbsp;07/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265082 |
| Rad CLO Ltd. (Cayman Islands),<br> Series 2020-07A, Class A1R, 144A, 3 Month SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.232(c) | &nbsp;&nbsp;04/17/36 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50015430 |
| Regatta Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-01A, Class A1R3, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) | 5.050(c) | &nbsp;&nbsp;06/20/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49978860 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-02A, Class A1R, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) | 5.105(c) | &nbsp;&nbsp;01/15/33 | 25949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25975830 |
| Rockford Tower CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-03A, Class A, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 0.000%) | 5.336(c) | &nbsp;&nbsp;10/20/30 | &nbsp;&nbsp;1365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1366414 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class AR2, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 4.984(c) | &nbsp;&nbsp;04/20/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49989440 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class A1RR, 144A, 3 Month SOFR + 1.090% (Cap N/A, Floor 1.090%) | 4.974(c) | &nbsp;&nbsp;01/20/36 | 60500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60510140 |
| Romark CLO Ltd. (Cayman Islands),<br> Series 2018-02A, Class A1R, 144A, 3 Month SOFR + 1.140% (Cap N/A, Floor 1.140%) | 4.998(c) | &nbsp;&nbsp;07/25/31 | 12853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12857638 |
| Romark WM-R Ltd. (Cayman Islands),<br> Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%) | 5.176(c) | &nbsp;&nbsp;04/20/31 | &nbsp;&nbsp;3053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3052561 |
| RR Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-17A, Class A1AR, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) | 4.975(c) | &nbsp;&nbsp;07/15/34 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39981488 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-26A, Class A1R, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) | 5.025(c) | &nbsp;&nbsp;04/15/38 | 24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23988000 |
| Saratoga Investment Corp. CLO Ltd. (Cayman Islands),<br> Series 2013-01A, Class A1R4, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 5.184(c) | &nbsp;&nbsp;04/20/33 | 10431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10439320 |
| Sculptor CLO Ltd. (Cayman Islands),<br> Series 28A, Class AR, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) | 4.944(c) | &nbsp;&nbsp;01/20/35 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000472 |
| Shackleton CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-05RA, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 0.262%) | 5.231(c) | &nbsp;&nbsp;05/07/31 | &nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517418 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-07RA, Class ARR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.005(c) | &nbsp;&nbsp;07/15/31 | 13613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13607093 |
| Silver Rock CLO Ltd. (Cayman Islands),<br> Series 2021-02A, Class AR, 144A, 3 Month SOFR + 1.040% (Cap N/A, Floor 1.040%) | 4.924(c) | &nbsp;&nbsp;01/20/35 | 41750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41683200 |
| Sixth Street CLO Ltd. (Cayman Islands),<br> Series 2017-08A, Class A1R2, 144A, 3 Month SOFR + 1.150% (Cap N/A, Floor 1.150%) | 5.034(c) | &nbsp;&nbsp;10/20/34 | 46500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46504218 |
| Sound Point CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-03RA, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) | 5.191(c) | &nbsp;&nbsp;10/23/31 | &nbsp;&nbsp;2721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2720778 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-03A, Class A1AR, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 5.158(c) | &nbsp;&nbsp;10/26/31 | &nbsp;&nbsp;9478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9484867 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class ARR, 144A, 3 Month SOFR + 1.030% (Cap N/A, Floor 1.030%) | 4.914(c) | &nbsp;&nbsp;01/20/32 | 22103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22095812 |
| Strata CLO Ltd. (Cayman Islands),<br> Series 2021-01A, Class AR2, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) | 4.934(c) | &nbsp;&nbsp;10/20/33 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20002608 |
| TCW CLO Ltd. (Cayman Islands),<br> Series 2020-01A, Class A1R3, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 0.000%) | 4.934(c) | &nbsp;&nbsp;04/20/34 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24982907 |
| TIAA CLO Ltd. (Cayman Islands),<br> Series 2018-01A, Class A1AR, 144A, 3 Month SOFR + 1.140% (Cap N/A, Floor 1.140%) | 5.024(c) | &nbsp;&nbsp;01/20/32 | &nbsp;&nbsp;6305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6305075 |
| Trinitas CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-06A, Class AR4, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) | 4.968(c) | &nbsp;&nbsp;01/25/34 | 51000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50989173 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-11A, Class A1RR, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) | 5.095(c) | &nbsp;&nbsp;07/15/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49975230 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-14A, Class A1R2, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 4.958(c) | &nbsp;&nbsp;01/25/34 | 14550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14547535 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-16A, Class A1R, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) | 5.014(c) | &nbsp;&nbsp;07/20/34 | 33500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33496650 |
| Venture CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-28AA, Class A1RR, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) | 4.994(c) | &nbsp;&nbsp;10/20/34 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29983833 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-34A, Class AR, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) | 5.185(c) | &nbsp;&nbsp;10/15/31 | &nbsp;&nbsp;9271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9276230 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-37A, Class A1RR, 144A, 3 Month SOFR + 1.250% (Cap N/A, Floor 1.250%) | 5.155(c) | &nbsp;&nbsp;07/15/32 | 24079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24102734 |
| Voya CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) | 5.090(c) | &nbsp;&nbsp;04/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243900 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-03A, Class A1RR, 144A, 3 Month SOFR + 1.411% (Cap N/A, Floor 1.150%) | 5.296(c) | &nbsp;&nbsp;10/18/31 | &nbsp;&nbsp;5169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5170558 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-01A, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) | 5.216(c) | &nbsp;&nbsp;01/20/31 | &nbsp;&nbsp;1930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929984 |
| Wellfleet CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-01A, Class A1R, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) | 5.064(c) | &nbsp;&nbsp;04/20/34 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000467 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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)** |
| **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.)** |
| Wellfleet CLO Ltd. (Cayman Islands), (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-03A, Class AR, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) | 5.105 %(c) | &nbsp;&nbsp;01/15/35 | 40000 | &nbsp;&nbsp; $39993676 |
| Whitebox CLO Ltd. (Cayman Islands),<br> Series 2021-03A, Class A1R, 144A, 3 Month SOFR + 1.270% (Cap N/A, Floor 1.270%) | 5.175(c) | &nbsp;&nbsp;10/15/35 | 16100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16113667 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2448940971 |
| **Consumer Loans 0.3%** | **Consumer Loans 0.3%** | **Consumer Loans 0.3%** | **Consumer Loans 0.3%** | **Consumer Loans 0.3%** |
| OneMain Financial Issuance Trust,<br> Series 2023-02A, Class A1, 144A | 5.840 | &nbsp;&nbsp;09/15/36 | 34900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35637203 |
| **Home Equity Loans 0.5%** | **Home Equity Loans 0.5%** | **Home Equity Loans 0.5%** | **Home Equity Loans 0.5%** | **Home Equity Loans 0.5%** |
| BRAVO Residential Funding Trust,<br> Series 2025-CES03, Class A1A, 144A | 5.036(cc) | &nbsp;&nbsp;12/25/55 | 11300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11305226 |
| COOPR Residential Mortgage Trust,<br> Series 2025-CES04, Class A1A, 144A | 5.040(cc) | &nbsp;&nbsp;11/25/60 | 10128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10133728 |
| JPMorgan Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE02, Class A1, 144A, 30 Day Average SOFR + 1.200% (Cap N/A, Floor 0.000%) | 5.299(c) | &nbsp;&nbsp;10/20/54 | &nbsp;&nbsp;5181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5180653 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HE03, Class A1, 144A, 30 Day Average SOFR + 1.350% (Cap N/A, Floor 0.000%) | 5.422(c) | &nbsp;&nbsp;03/25/56 | 17400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17400000 |
| RCKT Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES03, Class A1A, 144A | 6.591(cc) | &nbsp;&nbsp;05/25/44 | &nbsp;&nbsp;6351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6443358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES03, Class A1A, 144A | 5.553(cc) | &nbsp;&nbsp;03/25/55 | &nbsp;&nbsp;8939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9027201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES11, Class A1A, 144A | 4.966(cc) | &nbsp;&nbsp;11/25/55 | 11900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11936073 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71426239 |
| **Total Asset-Backed Securities<br> (cost $2,796,538,761)** | **Total Asset-Backed Securities<br> (cost $2,796,538,761)** | **Total Asset-Backed Securities<br> (cost $2,796,538,761)** | **Total Asset-Backed Securities<br> (cost $2,796,538,761)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801750339 |
| **Certificates of Deposit 2.9%** | **Certificates of Deposit 2.9%** | **Certificates of Deposit 2.9%** | **Certificates of Deposit 2.9%** | **Certificates of Deposit 2.9%** |
| Bank of America NA, SOFR + 0.340% | 4.350(c) | &nbsp;&nbsp;04/27/26 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25010924 |
| Bank of Montreal, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.390% | 4.440(c) | &nbsp;&nbsp;08/20/26 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17008128 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.400% | 4.450(c) | &nbsp;&nbsp;08/28/26 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15016323 |
| BNP Paribas SA | 4.600 | &nbsp;&nbsp;02/17/26 | 26700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26732398 |
| Canadian Imperial Bank of Commerce, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.340% | 4.390(c) | &nbsp;&nbsp;10/19/26 | 58000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58086065 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.400% (Cap N/A, Floor 0.000%) | 4.450(c) | &nbsp;&nbsp;08/03/26 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35034867 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.430% | 4.480(c) | &nbsp;&nbsp;05/08/26 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17519838 |
| Credit Agricole Corporate & Investment Bank, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.370% | 4.420(c) | &nbsp;&nbsp;10/26/26 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50002590 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.810% | 4.860(c) | &nbsp;&nbsp;06/07/27 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10081529 |
| Natixis SA, SOFR + 0.620% | 4.670(c) | &nbsp;&nbsp;10/29/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10023086 |
| Nordea Bank Abp, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.320% | 4.370(c) | &nbsp;&nbsp;06/29/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30015249 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.320% | 4.370(c) | &nbsp;&nbsp;07/23/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30012180 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.400% | 4.350(c) | &nbsp;&nbsp;02/19/27 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40014360 |
| Toronto-Dominion Bank (The), SOFR + 0.350% | 4.400(c) | &nbsp;&nbsp;07/06/26 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25011808 |
| **Total Certificates of Deposit<br> (cost $389,188,052)** | **Total Certificates of Deposit<br> (cost $389,188,052)** | **Total Certificates of Deposit<br> (cost $389,188,052)** | **Total Certificates of Deposit<br> (cost $389,188,052)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389569345 |
| **Commercial Mortgage-Backed Securities 9.6%** | **Commercial Mortgage-Backed Securities 9.6%** | **Commercial Mortgage-Backed Securities 9.6%** | **Commercial Mortgage-Backed Securities 9.6%** | **Commercial Mortgage-Backed Securities 9.6%** |
| 3650R Commercial Mortgage Trust,<br> Series 2021-PF01, Class A1 | 1.122 | &nbsp;&nbsp;11/15/54 | &nbsp;&nbsp;1708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681259 |
| BANK, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK04, Class A3 | 3.362 | &nbsp;&nbsp;05/15/50 | 35456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35124108 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK05, Class A4 | 3.131 | &nbsp;&nbsp;06/15/60 | 20033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19777811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK08, Class A3 | 3.229 | &nbsp;&nbsp;11/15/50 | 17699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17466966 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK09, Class A4 | 3.538 | &nbsp;&nbsp;11/15/54 | 19848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19583441 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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)** |
| BANK, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-BN10, Class A5 | 3.688% | &nbsp;&nbsp;02/15/61 | 28130 | &nbsp;&nbsp; $27842683 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-BN13, Class A4 | 3.953 | &nbsp;&nbsp;08/15/61 | 13452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13376808 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-BN17, Class A3 | 3.456 | &nbsp;&nbsp;04/15/52 | &nbsp;&nbsp;3666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594847 |
| Bank of America Merrill Lynch Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-UB10, Class A3 | 2.903 | &nbsp;&nbsp;07/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173519 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-UB10, Class A4 | 3.170 | &nbsp;&nbsp;07/15/49 | 21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20903931 |
| BANK5, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05YR1, Class A2 | 5.779 | &nbsp;&nbsp;04/15/56 | &nbsp;&nbsp;1524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05YR1, Class A3 | 6.260(cc) | &nbsp;&nbsp;04/15/56 | &nbsp;&nbsp;3193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3317506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05YR7, Class A3 | 5.769 | &nbsp;&nbsp;06/15/57 | 18500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19362131 |
| Barclays Commercial Mortgage Securities Trust,<br> Series 2023-05C23, Class A3 | 6.675(cc) | &nbsp;&nbsp;12/15/56 | 34875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37057648 |
| Benchmark Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-B05, Class A2 | 4.077 | &nbsp;&nbsp;07/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518146 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-B05, Class A3 | 3.944 | &nbsp;&nbsp;07/15/51 | &nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5565722 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-V02, Class A3 | 5.812(cc) | &nbsp;&nbsp;05/15/55 | 16857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17424695 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-V03, Class A3 | 6.363(cc) | &nbsp;&nbsp;07/15/56 | 16734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17543030 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-V08, Class A3 | 6.189(cc) | &nbsp;&nbsp;07/15/57 | 11700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12397806 |
| BMO Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05C2, Class A3 | 7.296(cc) | &nbsp;&nbsp;11/15/56 | 21175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22682560 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C5, Class A3 | 5.857 | &nbsp;&nbsp;02/15/57 | 31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32485948 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C6, Class A3 | 5.316 | &nbsp;&nbsp;09/15/57 | 11330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11695789 |
| BPR Trust,<br> Series 2021-TY, Class A, 144A, 1 Month SOFR + 1.164% (Cap N/A, Floor 1.050%) | 5.123(c) | &nbsp;&nbsp;09/15/38 | 16779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16773757 |
| BX Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-ACNT, Class A, 144A, 1 Month SOFR + 0.964% (Cap N/A, Floor 0.850%) | 4.923(c) | &nbsp;&nbsp;11/15/38 | 59175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59101122 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CIP, Class A, 144A, 1 Month SOFR + 1.035% (Cap N/A, Floor 0.921%) | 4.994(c) | &nbsp;&nbsp;12/15/38 | 62342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62283760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-XL02, Class A, 144A, 1 Month SOFR + 0.803% (Cap N/A, Floor 0.689%) | 4.762(c) | &nbsp;&nbsp;10/15/38 | &nbsp;&nbsp;4027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4022248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-LP02, Class A, 144A, 1 Month SOFR + 1.013% (Cap N/A, Floor 1.013%) | 4.972(c) | &nbsp;&nbsp;02/15/39 | &nbsp;&nbsp;3308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3301531 |
| BX Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-ARIA, Class A, 144A, 1 Month SOFR + 1.014% (Cap N/A, Floor 0.899%) | 4.973(c) | &nbsp;&nbsp;10/15/36 | 31312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31292593 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-LBA, Class AJV, 144A, 1 Month SOFR + 0.914% (Cap N/A, Floor 0.800%) | 4.873(c) | &nbsp;&nbsp;02/15/36 | &nbsp;&nbsp;9982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9969963 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-LGCY, Class A, 144A, 1 Month SOFR + 0.620% (Cap N/A, Floor 0.506%) | 4.579(c) | &nbsp;&nbsp;10/15/36 | 12690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12638905 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-LBA06, Class A, 144A, 1 Month SOFR + 1.000% (Cap N/A, Floor 1.000%) | 4.959(c) | &nbsp;&nbsp;01/15/39 | 74019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73926757 |
| CD Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-CD02, Class A3 | 3.248 | &nbsp;&nbsp;11/10/49 | &nbsp;&nbsp;2328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310815 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-CD03, Class A3 | 3.356 | &nbsp;&nbsp;02/10/50 | &nbsp;&nbsp;5090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5050042 |
| CFCRE Commercial Mortgage Trust,<br> Series 2016-C04, Class A4 | 3.283 | &nbsp;&nbsp;05/10/58 | &nbsp;&nbsp;4039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4029618 |
| CGMS Commercial Mortgage Trust,<br> Series 2017-B01, Class A3 | 3.197 | &nbsp;&nbsp;08/15/50 | &nbsp;&nbsp;1437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413304 |
| Citigroup Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-GC31, Class A4 | 3.762 | &nbsp;&nbsp;06/10/48 | &nbsp;&nbsp;1598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571122 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C01, Class A3 | 2.944 | &nbsp;&nbsp;05/10/49 | &nbsp;&nbsp;3869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3856932 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C02, Class A3 | 2.575 | &nbsp;&nbsp;08/10/49 | 12516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12389931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C03, Class A4 | 3.154 | &nbsp;&nbsp;11/15/49 | 15933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15756505 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P04, Class A2 | 2.450 | &nbsp;&nbsp;07/10/49 | &nbsp;&nbsp;3635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3619595 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P04, Class A3 | 2.646 | &nbsp;&nbsp;07/10/49 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9922225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P05, Class A3 | 2.684 | &nbsp;&nbsp;10/10/49 | &nbsp;&nbsp;4023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3981645 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P06, Class A4 | 3.458 | &nbsp;&nbsp;12/10/49 | 10464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10397343 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C04, Class A3 | 3.209 | &nbsp;&nbsp;10/12/50 | &nbsp;&nbsp;1074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057481 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-P07, Class A3 | 3.442 | &nbsp;&nbsp;04/14/50 | &nbsp;&nbsp;8185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8106057 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-P08, Class A3 | 3.203 | &nbsp;&nbsp;09/15/50 | 21272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20933397 |
| Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2012-CR04, Class A3 | 2.853 | &nbsp;&nbsp;10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-COR01, Class A4 | 3.091 | &nbsp;&nbsp;10/10/49 | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10859874 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-COR03, Class A2 | 3.961 | &nbsp;&nbsp;05/10/51 | &nbsp;&nbsp;1590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574879 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-GC44, Class A2 | 2.827 | &nbsp;&nbsp;08/15/57 | 11162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10724113 |
| Credit Suisse Mortgage Trust,<br> Series 2016-NXSR, Class A3 | 3.501 | &nbsp;&nbsp;12/15/49 | &nbsp;&nbsp;2132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2126091 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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)** |
| CSAIL Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C06, Class A5 | 3.090% | &nbsp;&nbsp;01/15/49 | 12765 | &nbsp;&nbsp; $12717276 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C07, Class A4 | 3.210 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;3499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3480975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C08, Class A3 | 3.127 | &nbsp;&nbsp;06/15/50 | 11367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11174706 |
| Deutsche Bank Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C01, Class A4 | 3.276 | &nbsp;&nbsp;05/10/49 | &nbsp;&nbsp;1914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903670 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C03, Class A4 | 2.632 | &nbsp;&nbsp;08/10/49 | &nbsp;&nbsp;6895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6850270 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C03, Class A5 | 2.890 | &nbsp;&nbsp;08/10/49 | &nbsp;&nbsp;8353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8273612 |
| GS Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS02, Class A4 | 3.050 | &nbsp;&nbsp;05/10/49 | 14962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14897400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS03, Class A3 | 2.592 | &nbsp;&nbsp;10/10/49 | 18161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17993615 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS03, Class A4 | 2.850 | &nbsp;&nbsp;10/10/49 | 11040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10891545 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS04, Class A3 | 3.178 | &nbsp;&nbsp;11/10/49 | &nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4558971 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS04, Class A4 | 3.442(cc) | &nbsp;&nbsp;11/10/49 | 21278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21085677 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GS06, Class A2 | 3.164 | &nbsp;&nbsp;05/10/50 | 14449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14223640 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GS07, Class A3 | 3.167 | &nbsp;&nbsp;08/10/50 | 32020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31603458 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-GS09, Class A4 | 3.992(cc) | &nbsp;&nbsp;03/10/51 | 12005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11932257 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-GC38, Class AAB | 3.835 | &nbsp;&nbsp;02/10/52 | &nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219863 |
| JPMBB Commercial Mortgage Securities Trust,<br> Series 2014-C24, Class A5 | 3.639 | &nbsp;&nbsp;11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747249 |
| JPMDB Commercial Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C04, Class A2 | 2.882 | &nbsp;&nbsp;12/15/49 | &nbsp;&nbsp;2997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2968837 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C07, Class A4 | 3.147 | &nbsp;&nbsp;10/15/50 | 20186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19822858 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-C08, Class A3 | 3.944 | &nbsp;&nbsp;06/15/51 | &nbsp;&nbsp;4277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4245446 |
| JPMorgan Chase Commercial Mortgage Securities Trust,<br> Series 2015-JP01, Class A5 | 3.914 | &nbsp;&nbsp;01/15/49 | &nbsp;&nbsp;3759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3744422 |
| Ladder Capital Commercial Mortgage Securities Trust,<br> Series 2017-LC26, Class A4, 144A | 3.551 | &nbsp;&nbsp;07/12/50 | &nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2914842 |
| Morgan Stanley Bank of America Merrill Lynch Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C29, Class A4 | 3.325 | &nbsp;&nbsp;05/15/49 | 11665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11614054 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C30, Class A5 | 2.860 | &nbsp;&nbsp;09/15/49 | 21635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21322310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C31, Class A4 | 2.840 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;6519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6458358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C33, Class A4 | 3.337 | &nbsp;&nbsp;05/15/50 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16801447 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C33, Class A5 | 3.599 | &nbsp;&nbsp;05/15/50 | 17840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17661504 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C34, Class A3 | 3.276 | &nbsp;&nbsp;11/15/52 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17253812 |
| Morgan Stanley Capital I,<br> Series 2017-HR02, Class A4 | 3.587 | &nbsp;&nbsp;12/15/50 | &nbsp;&nbsp;5395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5330304 |
| Morgan Stanley Capital I Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-BNK02, Class A3 | 2.791 | &nbsp;&nbsp;11/15/49 | 13246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13077217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-L01, Class ASB | 4.238(cc) | &nbsp;&nbsp;10/15/51 | &nbsp;&nbsp;2121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123399 |
| MTN Commercial Mortgage Trust,<br> Series 2022-LPFL, Class A, 144A, 1 Month SOFR + 1.397% (Cap N/A, Floor 1.397%) | 5.357(c) | &nbsp;&nbsp;03/15/39 | &nbsp;&nbsp;2230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231394 |
| NJ Trust,<br> Series 2023-GSP, Class A, 144A | 6.697(cc) | &nbsp;&nbsp;01/06/29 | &nbsp;&nbsp;5630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918424 |
| One New York Plaza Trust,<br> Series 2020-01NYP, Class A, 144A, 1 Month SOFR + 1.064% (Cap N/A, Floor 0.950%) | 5.023(c) | &nbsp;&nbsp;01/15/36 | 17410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16740643 |
| Santander Commercial Mortgage Securities LLC,<br> Series 2025-BNC01, Class A2, 144A | 4.502 | &nbsp;&nbsp;04/15/28 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24999975 |
| SREIT Trust,<br> Series 2021-MFP02, Class A, 144A, 1 Month SOFR + 0.936% (Cap N/A, Floor 0.822%) | 4.895(c) | &nbsp;&nbsp;11/15/36 | 25130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25106622 |
| UBS Commercial Mortgage Trust,<br> Series 2017-C04, Class A3 | 3.301 | &nbsp;&nbsp;10/15/50 | 11843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11685107 |
| Wells Fargo Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-BNK01, Class A2 | 2.399 | &nbsp;&nbsp;08/15/49 | 14286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14182377 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C35, Class A3 | 2.674 | &nbsp;&nbsp;07/15/48 | &nbsp;&nbsp;1526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516453 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C36, Class A3 | 2.807 | &nbsp;&nbsp;11/15/59 | 12385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12256315 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-NXS06, Class A4 | 2.918 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;2390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2363861 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C38, Class A4 | 3.190 | &nbsp;&nbsp;07/15/50 | 14822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14628123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C40, Class A3 | 3.317 | &nbsp;&nbsp;10/15/50 | 10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10683720 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C41, Class A3 | 3.210 | &nbsp;&nbsp;11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800327 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-C45, Class A3 | 3.920 | &nbsp;&nbsp;06/15/51 | &nbsp;&nbsp;4842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4826374 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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)** |
| Wells Fargo Commercial Mortgage Trust, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5C1, Class A3 | 5.928% | &nbsp;&nbsp;07/15/57 | 58870 | &nbsp;&nbsp; $61819876 |
| **Total Commercial Mortgage-Backed Securities<br> (cost $1,260,730,363)** | **Total Commercial Mortgage-Backed Securities<br> (cost $1,260,730,363)** | **Total Commercial Mortgage-Backed Securities<br> (cost $1,260,730,363)** | **Total Commercial Mortgage-Backed Securities<br> (cost $1,260,730,363)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1272867508 |
| **Corporate Bonds 45.2%** | **Corporate Bonds 45.2%** | **Corporate Bonds 45.2%** | **Corporate Bonds 45.2%** | **Corporate Bonds 45.2%** |
| **Aerospace & Defense 0.6%** | **Aerospace & Defense 0.6%** | **Aerospace & Defense 0.6%** | **Aerospace & Defense 0.6%** | **Aerospace & Defense 0.6%** |
| BAE Systems PLC (United Kingdom),<br> Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;03/26/27 | 10290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10412412 |
| General Dynamics Corp.,<br> Gtd. Notes | 2.625 | &nbsp;&nbsp;11/15/27 | &nbsp;&nbsp;5120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5013574 |
| RTX Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.500 | &nbsp;&nbsp;03/15/27 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11927930 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.000 | &nbsp;&nbsp;02/27/26 | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8010294 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.750 | &nbsp;&nbsp;11/08/26 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40586314 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75950524 |
| **Agriculture 1.0%** | **Agriculture 1.0%** | **Agriculture 1.0%** | **Agriculture 1.0%** | **Agriculture 1.0%** |
| Bunge Ltd. Finance Corp.,<br> Gtd. Notes | 4.100 | &nbsp;&nbsp;01/07/28 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6014719 |
| Cargill, Inc.,<br> Sr. Unsec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;02/11/28 | 45700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46431880 |
| Philip Morris International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.875 | &nbsp;&nbsp;10/27/28 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34918358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.125 | &nbsp;&nbsp;04/28/28 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30121982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;02/12/27 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10096994 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127583933 |
| **Auto Manufacturers 5.5%** | **Auto Manufacturers 5.5%** | **Auto Manufacturers 5.5%** | **Auto Manufacturers 5.5%** | **Auto Manufacturers 5.5%** |
| American Honda Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;01/12/26 | &nbsp;&nbsp;9750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9753563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.550% (Cap N/A, Floor 0.000%) | 4.600(c) | &nbsp;&nbsp;05/11/26 | 44000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44029212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.620% (Cap N/A, Floor 0.000%) | 4.776(c) | &nbsp;&nbsp;12/11/26 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35056228 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.730% (Cap N/A, Floor 0.000%) | 4.902(c) | &nbsp;&nbsp;03/08/27 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35041018 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.820% | 5.009(c) | &nbsp;&nbsp;03/03/28 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5008948 |
| BMW US Capital LLC (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.150 | &nbsp;&nbsp;08/11/27 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16040246 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.650 | &nbsp;&nbsp;03/19/27 | 18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19023984 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR Index + 0.550% | 4.653(c) | &nbsp;&nbsp;04/02/26 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20009338 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.750 | &nbsp;&nbsp;03/21/28 | 29800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30255073 |
| Daimler Truck Finance North America LLC (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.300 | &nbsp;&nbsp;08/12/27 | 11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11240887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.840% | 4.930(c) | &nbsp;&nbsp;01/13/28 | 16600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16613280 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.000 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;9070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9154053 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.960% | 5.075(c) | &nbsp;&nbsp;09/25/27 | 24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24024000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.150 | &nbsp;&nbsp;01/16/26 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14012355 |
| General Motors Financial Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 1.250 | &nbsp;&nbsp;01/08/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9965656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.200 | &nbsp;&nbsp;10/27/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20013837 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.050 | &nbsp;&nbsp;04/04/28 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17818097 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR Index + 1.050% | 5.139(c) | &nbsp;&nbsp;07/15/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30003093 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR Index + 1.170% | 5.269(c) | &nbsp;&nbsp;04/04/28 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17500082 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.400 | &nbsp;&nbsp;04/06/26 | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8532577 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.400 | &nbsp;&nbsp;05/08/27 | &nbsp;&nbsp;9375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9529097 |
| Hyundai Capital America, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.850 | &nbsp;&nbsp;03/25/27 | 14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14518575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.875 | &nbsp;&nbsp;11/01/27 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5063931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 1.030% | 5.141(c) | &nbsp;&nbsp;09/24/27 | &nbsp;&nbsp;9170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200369 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** |
| Hyundai Capital America, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 1.040% | 5.151 %(c) | &nbsp;&nbsp;06/24/27 | 40000 | &nbsp;&nbsp; $40152041 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 1.040% | 5.159(c) | &nbsp;&nbsp;03/19/27 | 16670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16722552 |
| Mercedes-Benz Finance North America LLC (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.630% | 4.696(c) | &nbsp;&nbsp;07/31/26 | 13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13016340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.670% | 4.769(c) | &nbsp;&nbsp;01/09/26 | 13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.780% (Cap N/A, Floor 0.000%) | 4.883(c) | &nbsp;&nbsp;04/01/27 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14962500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.850% | 4.906(c) | &nbsp;&nbsp;11/15/27 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14958251 |
| PACCAR Financial Corp.,<br> Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;03/03/28 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50837915 |
| Toyota Motor Credit Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.450 | &nbsp;&nbsp;05/18/26 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15028696 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR + 0.770% | 4.817(c) | &nbsp;&nbsp;08/07/26 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6017199 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.300% | 4.350(c) | &nbsp;&nbsp;02/24/26 | 13750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13752184 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR Index + 0.450% | 4.541(c) | &nbsp;&nbsp;04/10/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10007968 |
| Volkswagen Group of America Finance LLC (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.450 | &nbsp;&nbsp;09/11/27 | 12500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12537676 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.950 | &nbsp;&nbsp;03/25/27 | &nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8362341 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.050 | &nbsp;&nbsp;03/27/28 | 16700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16961692 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.000 | &nbsp;&nbsp;11/16/26 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50810915 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728535769 |
| **Banks 9.1%** | **Banks 9.1%** | **Banks 9.1%** | **Banks 9.1%** | **Banks 9.1%** |
| ABN AMRO Bank NV (Netherlands),<br> Sr. Preferred Notes, 144A | 4.718 | &nbsp;&nbsp;01/22/27 | 93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93731520 |
| Australia & New Zealand Banking Group Ltd. (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.560% | 4.683(c) | &nbsp;&nbsp;03/18/26 | 13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13514009 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.810% | 4.890(c) | &nbsp;&nbsp;01/18/27 | 33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33751351 |
| Bank of Montreal (Canada),<br> Sr. Unsec'd. Notes, MTN | 4.850 | &nbsp;&nbsp;07/30/26 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50010830 |
| Bank of Nova Scotia (The) (Canada),<br> Sr. Unsec'd. Notes, GMTN, SOFR Index + 0.780% | 4.959(c) | &nbsp;&nbsp;06/04/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30136992 |
| Banque Federative du Credit Mutuel SA (France),<br> Sr. Preferred Notes, 144A, SOFR + 1.130% | 5.202(c) | &nbsp;&nbsp;01/23/27 | 10890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10949284 |
| Citigroup, Inc.,<br> Sr. Unsec'd. Notes | 1.122(ff) | &nbsp;&nbsp;01/28/27 | 74336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73964824 |
| Commonwealth Bank of Australia (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.423 | &nbsp;&nbsp;03/14/28 | 17400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17637957 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, MTN, SOFR + 0.640% | 4.784(c) | &nbsp;&nbsp;03/14/28 | 20700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20781531 |
| Cooperatieve Rabobank UA (Netherlands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes | 3.957 | &nbsp;&nbsp;10/17/28 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22553858 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, SOFR + 0.590% | 4.673(c) | &nbsp;&nbsp;10/17/28 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22498517 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, SOFR Index + 0.620% | 4.690(c) | &nbsp;&nbsp;08/28/26 | 12920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12948133 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, SOFR Index + 0.710% | 4.802(c) | &nbsp;&nbsp;01/09/26 | 28500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28516789 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, SOFR Index + 0.710% | 4.886(c) | &nbsp;&nbsp;03/05/27 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15068960 |
| Federation des Caisses Desjardins du Quebec (Canada),<br> Sr. Unsec'd. Notes, 144A, MTN, SOFR + 0.630% | 4.698(c) | &nbsp;&nbsp;01/27/27 | 83000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83077174 |
| Morgan Stanley Bank NA,<br> Sr. Unsec'd. Notes, SOFR + 0.685% | 4.774(c) | &nbsp;&nbsp;10/15/27 | 30420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30479702 |
| National Australia Bank Ltd. (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.966 | &nbsp;&nbsp;01/12/26 | 32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32028278 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.600% | 4.668(c) | &nbsp;&nbsp;10/26/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20042260 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.650% | 4.806(c) | &nbsp;&nbsp;12/10/25 | 14286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14287086 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, MTN, SOFR + 0.500% | 4.672(c) | &nbsp;&nbsp;03/06/28 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24994728 |
| National Bank of Canada (Canada),<br> Sr. Unsec'd. Notes, MTN, SOFR + 0.670% (Cap N/A, Floor 0.000%) | 4.768(c) | &nbsp;&nbsp;10/06/27 | 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44969405 |
| National Securities Clearing Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.350 | &nbsp;&nbsp;05/20/27 | 29250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29482474 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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.)** |
| National Securities Clearing Corp., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.570% | 4.631 %(c) | &nbsp;&nbsp;05/20/27 | &nbsp;&nbsp;9450 | &nbsp;&nbsp; $9482291 |
| NatWest Group PLC (United Kingdom),<br> Sr. Unsec'd. Notes | 1.642(ff) | &nbsp;&nbsp;06/14/27 | 52711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51987837 |
| NatWest Markets PLC (United Kingdom), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.174 | &nbsp;&nbsp;11/06/28 | 43300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43339498 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.789 | &nbsp;&nbsp;03/21/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20335642 |
| Nordea Bank Abp (Finland), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A, SOFR + 0.740% | 4.859(c) | &nbsp;&nbsp;03/19/27 | &nbsp;&nbsp;5556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5576473 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A, MTN | 4.375 | &nbsp;&nbsp;03/17/28 | 24750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24977054 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A, MTN, SOFR + 0.700% | 4.828(c) | &nbsp;&nbsp;03/17/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20054036 |
| Royal Bank of Canada (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN, SOFR Index + 0.525% | 4.605(c) | &nbsp;&nbsp;01/20/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10004850 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN, SOFR Index + 0.570% | 4.638(c) | &nbsp;&nbsp;04/27/26 | &nbsp;&nbsp;7027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7035960 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN, SOFR Index + 0.950% | 5.030(c) | &nbsp;&nbsp;01/19/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20121364 |
| Skandinaviska Enskilda Banken AB (Sweden), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A | 4.375 | &nbsp;&nbsp;06/02/28 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35386908 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A, SOFR + 0.750% | 4.944(c) | &nbsp;&nbsp;06/02/28 | 13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13548223 |
| State Street Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.536 | &nbsp;&nbsp;02/28/28 | 43400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44064825 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.993 | &nbsp;&nbsp;03/18/27 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22803073 |
| Svenska Handelsbanken AB (Sweden),<br> Sr. Preferred Notes, 144A | 4.375 | &nbsp;&nbsp;05/23/28 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14172155 |
| Toronto-Dominion Bank (The) (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.109 | &nbsp;&nbsp;10/13/28 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17534360 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR + 0.750% | 4.840(c) | &nbsp;&nbsp;10/13/28 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17489633 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.574 | &nbsp;&nbsp;06/02/28 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22795562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.910% | 5.104(c) | &nbsp;&nbsp;06/02/28 | &nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7532093 |
| UBS Group AG (Switzerland), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;04/17/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10017363 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.125 | &nbsp;&nbsp;04/15/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10001492 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.711(ff) | &nbsp;&nbsp;01/12/27 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15021408 |
| Wells Fargo Bank NA,<br> Sr. Unsec'd. Notes, SOFR + 0.710% | 4.799(c) | &nbsp;&nbsp;01/15/26 | 12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12805349 |
| Westpac Banking Corp. (Australia),<br> Sr. Unsec'd. Notes, 144A, SOFR + 0.500% | 4.672(c) | &nbsp;&nbsp;03/06/28 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25005578 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206518689 |
| **Beverages 0.7%** | **Beverages 0.7%** | **Beverages 0.7%** | **Beverages 0.7%** | **Beverages 0.7%** |
| Diageo Capital PLC (United Kingdom),<br> Gtd. Notes | 5.300 | &nbsp;&nbsp;10/24/27 | 15619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15992182 |
| Keurig Dr. Pepper, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.350 | &nbsp;&nbsp;05/15/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20060626 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, SOFR Index + 0.880% | 5.024(c) | &nbsp;&nbsp;03/15/27 | 26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26004188 |
| Molson Coors Beverage Co.,<br> Gtd. Notes | 3.000 | &nbsp;&nbsp;07/15/26 | &nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6951530 |
| PepsiCo, Inc.,<br> Sr. Unsec'd. Notes | 5.125 | &nbsp;&nbsp;11/10/26 | 26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26292719 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95301245 |
| **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** |
| Gilead Sciences, Inc.,<br> Sr. Unsec'd. Notes | 3.650 | &nbsp;&nbsp;03/01/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9987037 |
| **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** |
| Owens Corning,<br> Sr. Unsec'd. Notes | 5.500 | &nbsp;&nbsp;06/15/27 | &nbsp;&nbsp;7976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8138695 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Chemicals 0.8%** | **Chemicals 0.8%** | **Chemicals 0.8%** | **Chemicals 0.8%** | **Chemicals 0.8%** |
| Air Products & Chemicals, Inc.,<br> Sr. Unsec'd. Notes | 4.300% | &nbsp;&nbsp;06/11/28 | 37760 | &nbsp;&nbsp; $38158087 |
| Nutrien Ltd. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;03/12/27 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50255400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.200 | &nbsp;&nbsp;06/21/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20330838 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108744325 |
| **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** |
| Equifax, Inc.,<br> Sr. Unsec'd. Notes | 3.250 | &nbsp;&nbsp;06/01/26 | &nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7560538 |
| **Computers 0.9%** | **Computers 0.9%** | **Computers 0.9%** | **Computers 0.9%** | **Computers 0.9%** |
| Accenture Capital, Inc.,<br> Gtd. Notes | 3.900 | &nbsp;&nbsp;10/04/27 | 22940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23009858 |
| Apple, Inc.,<br> Sr. Unsec'd. Notes | 3.250 | &nbsp;&nbsp;02/23/26 | 13150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13124321 |
| IBM International Capital Pte Ltd.,<br> Gtd. Notes | 4.700 | &nbsp;&nbsp;02/05/26 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20028032 |
| International Business Machines Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.300 | &nbsp;&nbsp;05/15/26 | 26510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26422274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;02/06/26 | 37000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37022328 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119606813 |
| **Cosmetics/Personal Care 0.1%** | **Cosmetics/Personal Care 0.1%** | **Cosmetics/Personal Care 0.1%** | **Cosmetics/Personal Care 0.1%** | **Cosmetics/Personal Care 0.1%** |
| Unilever Capital Corp. (United Kingdom),<br> Gtd. Notes | 4.250 | &nbsp;&nbsp;08/12/27 | 13650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13746682 |
| **Diversified Financial Services 1.6%** | **Diversified Financial Services 1.6%** | **Diversified Financial Services 1.6%** | **Diversified Financial Services 1.6%** | **Diversified Financial Services 1.6%** |
| American Express Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.389(ff) | &nbsp;&nbsp;07/28/27 | 41656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42013761 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.645(ff) | &nbsp;&nbsp;04/23/27 | 34206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34409596 |
| Citigroup Global Markets Holdings, Inc.,<br> Gtd. Notes, MTN, SOFR + 0.700% (Cap N/A, Floor 0.000%) | 4.768(c) | &nbsp;&nbsp;05/26/26 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40061877 |
| Intercontinental Exchange, Inc.,<br> Sr. Unsec'd. Notes | 3.950 | &nbsp;&nbsp;12/01/28 | 12900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12916637 |
| Jefferies Financial Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.500 | &nbsp;&nbsp;09/15/26 | 46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46019840 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.750 | &nbsp;&nbsp;08/11/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29988845 |
| LSEG US Fin Corp. (United Kingdom),<br> Gtd. Notes, 144A | 4.875 | &nbsp;&nbsp;03/28/27 | &nbsp;&nbsp;7140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7212890 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212623446 |
| **Electric 2.6%** | **Electric 2.6%** | **Electric 2.6%** | **Electric 2.6%** | **Electric 2.6%** |
| Alliant Energy Finance LLC,<br> Gtd. Notes, 144A | 5.400 | &nbsp;&nbsp;06/06/27 | 10710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10848416 |
| DTE Electric Co.,<br> General Ref. Mortgage | 4.850 | &nbsp;&nbsp;12/01/26 | 42750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43197638 |
| DTE Energy Co.,<br> Sr. Unsec'd. Notes | 4.950 | &nbsp;&nbsp;07/01/27 | 14625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14806835 |
| Duke Energy Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.850 | &nbsp;&nbsp;01/05/27 | &nbsp;&nbsp;9333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9412178 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.000 | &nbsp;&nbsp;12/08/25 | 13250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13248552 |
| Duke Energy Progress LLC,<br> First Mortgage | 4.350 | &nbsp;&nbsp;03/06/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30206252 |
| Florida Power & Light Co.,<br> Sr. Unsec'd. Notes | 4.450 | &nbsp;&nbsp;05/15/26 | 16500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16519906 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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.)** |
| Georgia Power Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.000% | &nbsp;&nbsp;10/01/28 | 21000 | &nbsp;&nbsp; $21049530 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.004 | &nbsp;&nbsp;02/23/27 | 10680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10819342 |
| NextEra Energy Capital Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.685 | &nbsp;&nbsp;09/01/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20214593 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, SOFR Index + 0.760% | 4.820(c) | &nbsp;&nbsp;01/29/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30022054 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.850 | &nbsp;&nbsp;02/04/28 | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11202444 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, SOFR Index + 0.800% | 4.853(c) | &nbsp;&nbsp;02/04/28 | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11054064 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.950 | &nbsp;&nbsp;01/29/26 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19019217 |
| Pacific Gas & Electric Co.,<br> First Mortgage | 3.150 | &nbsp;&nbsp;01/01/26 | &nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9887136 |
| Southern California Edison Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;First Mortgage | 4.400 | &nbsp;&nbsp;09/06/26 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18028208 |
| &nbsp;&nbsp;&nbsp;&nbsp;First Mortgage | 5.350 | &nbsp;&nbsp;03/01/26 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12029147 |
| Virginia Electric & Power Co.,<br> Sr. Unsec'd. Notes, Series B | 2.950 | &nbsp;&nbsp;11/15/26 | 19306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19117074 |
| WEC Energy Group, Inc.,<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;01/09/26 | 23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23005725 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343688311 |
| **Electronics 1.4%** | **Electronics 1.4%** | **Electronics 1.4%** | **Electronics 1.4%** | **Electronics 1.4%** |
| Amphenol Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.800 | &nbsp;&nbsp;11/15/27 | 25600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25553998 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.900 | &nbsp;&nbsp;11/15/28 | 12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12799366 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.375 | &nbsp;&nbsp;06/12/28 | 36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36374358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.050 | &nbsp;&nbsp;04/05/27 | 29290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29715857 |
| Fortive Corp.,<br> Sr. Unsec'd. Notes | 3.150 | &nbsp;&nbsp;06/15/26 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24843563 |
| Honeywell International, Inc.,<br> Sr. Unsec'd. Notes | 4.650 | &nbsp;&nbsp;07/30/27 | 34000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34433136 |
| Tyco Electronics Group SA (Switzerland),<br> Gtd. Notes | 4.500 | &nbsp;&nbsp;02/13/26 | 23250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23289665 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187009943 |
| **Foods 1.4%** | **Foods 1.4%** | **Foods 1.4%** | **Foods 1.4%** | **Foods 1.4%** |
| Hershey Co. (The),<br> Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;02/24/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12206501 |
| Mars, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.450 | &nbsp;&nbsp;03/01/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30210349 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.600 | &nbsp;&nbsp;03/01/28 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40539333 |
| Mondelez International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.625 | &nbsp;&nbsp;03/17/27 | 13909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13663231 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.250 | &nbsp;&nbsp;05/06/28 | 47700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47970821 |
| Nestle Holdings, Inc.,<br> Gtd. Notes, 144A | 5.250 | &nbsp;&nbsp;03/13/26 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20062346 |
| Sysco Corp.,<br> Gtd. Notes | 3.300 | &nbsp;&nbsp;07/15/26 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13928085 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178580666 |
| **Forest Products & Paper 0.0%** | **Forest Products & Paper 0.0%** | **Forest Products & Paper 0.0%** | **Forest Products & Paper 0.0%** | **Forest Products & Paper 0.0%** |
| Georgia-Pacific LLC,<br> Sr. Unsec'd. Notes, 144A | 4.400 | &nbsp;&nbsp;06/30/28 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6063436 |
| **Healthcare-Products 0.6%** | **Healthcare-Products 0.6%** | **Healthcare-Products 0.6%** | **Healthcare-Products 0.6%** | **Healthcare-Products 0.6%** |
| Agilent Technologies, Inc.,<br> Sr. Unsec'd. Notes | 4.200 | &nbsp;&nbsp;09/09/27 | 20800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20862205 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Healthcare-Products (cont'd.)** | **Healthcare-Products (cont'd.)** | **Healthcare-Products (cont'd.)** | **Healthcare-Products (cont'd.)** | **Healthcare-Products (cont'd.)** |
| Smith & Nephew PLC (United Kingdom),<br> Sr. Unsec'd. Notes | 5.150% | &nbsp;&nbsp;03/20/27 | &nbsp;&nbsp;6133 | &nbsp;&nbsp; $6199059 |
| Stryker Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;02/10/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30223212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.700 | &nbsp;&nbsp;02/10/28 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22851804 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80136280 |
| **Healthcare-Services 0.6%** | **Healthcare-Services 0.6%** | **Healthcare-Services 0.6%** | **Healthcare-Services 0.6%** | **Healthcare-Services 0.6%** |
| Quest Diagnostics, Inc.,<br> Sr. Unsec'd. Notes | 4.600 | &nbsp;&nbsp;12/15/27 | &nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7491830 |
| Roche Holdings, Inc.,<br> Gtd. Notes, 144A | 5.265 | &nbsp;&nbsp;11/13/26 | 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60729310 |
| UnitedHealth Group, Inc.,<br> Sr. Unsec'd. Notes | 4.400 | &nbsp;&nbsp;06/15/28 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10119786 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78340926 |
| **Insurance 3.6%** | **Insurance 3.6%** | **Insurance 3.6%** | **Insurance 3.6%** | **Insurance 3.6%** |
| Arthur J Gallagher & Co.,<br> Sr. Unsec'd. Notes | 4.600 | &nbsp;&nbsp;12/15/27 | 23606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23835049 |
| Corebridge Global Funding, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.650 | &nbsp;&nbsp;08/20/27 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25239937 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, SOFR + 1.300% (Cap N/A, Floor 0.000%) | 5.410(c) | &nbsp;&nbsp;09/25/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30185498 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, MTN | 4.250 | &nbsp;&nbsp;08/21/28 | 18200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18254607 |
| Marsh & McLennan Cos., Inc.,<br> Sr. Unsec'd. Notes, SOFR Index + 0.700% | 4.748(c) | &nbsp;&nbsp;11/08/27 | &nbsp;&nbsp;9110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9153321 |
| Metropolitan Life Global Funding I, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.150 | &nbsp;&nbsp;08/25/28 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15064526 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, MTN, SOFR Index + 0.700% | 4.852(c) | &nbsp;&nbsp;06/11/27 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19071651 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, SOFR Index + 0.570% | 4.662(c) | &nbsp;&nbsp;04/09/26 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14013968 |
| New York Life Global Funding, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, SOFR + 0.550% | 4.702(c) | &nbsp;&nbsp;06/11/27 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40051323 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, MTN, SOFR + 0.670% | 4.773(c) | &nbsp;&nbsp;04/02/27 | 55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55208630 |
| Pacific Life Global Funding II, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, SOFR + 0.480% | 4.533(c) | &nbsp;&nbsp;02/04/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30025872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, SOFR + 0.600% (Cap N/A, Floor 0.000%) | 4.709(c) | &nbsp;&nbsp;03/27/26 | 23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23013791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, SOFR + 0.750% (Cap N/A, Floor 0.000%) | 4.841(c) | &nbsp;&nbsp;07/10/28 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35113209 |
| Principal Life Global Funding II, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.600 | &nbsp;&nbsp;08/19/27 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25205996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;01/16/27 | &nbsp;&nbsp;7714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7795550 |
| Protective Life Global Funding, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.335 | &nbsp;&nbsp;09/13/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20130116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.992 | &nbsp;&nbsp;01/12/27 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19188753 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, SOFR + 0.850% (Cap N/A, Floor 0.000%) | 5.002(c) | &nbsp;&nbsp;09/11/28 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50025173 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, MTN, SOFR + 0.700% (Cap N/A, Floor 0.000%) | 4.791(c) | &nbsp;&nbsp;04/10/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10006949 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470583919 |
| **Internet 1.0%** | **Internet 1.0%** | **Internet 1.0%** | **Internet 1.0%** | **Internet 1.0%** |
| Alphabet, Inc.,<br> Sr. Unsec'd. Notes | 3.875 | &nbsp;&nbsp;11/15/28 | 17300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17405197 |
| Amazon.com, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.900 | &nbsp;&nbsp;11/20/28 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30120887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.600 | &nbsp;&nbsp;12/01/25 | 32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000000 |
| Netflix, Inc.,<br> Sr. Unsec'd. Notes | 4.875 | &nbsp;&nbsp;04/15/28 | 50150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51252060 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130778144 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Machinery-Construction & Mining 0.5%** | **Machinery-Construction & Mining 0.5%** | **Machinery-Construction & Mining 0.5%** | **Machinery-Construction & Mining 0.5%** | **Machinery-Construction & Mining 0.5%** |
| Caterpillar Financial Services Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.800% | &nbsp;&nbsp;01/06/26 | 15000 | &nbsp;&nbsp; $15008402 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.350 | &nbsp;&nbsp;05/15/26 | 52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52070800 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67079202 |
| **Machinery-Diversified 0.8%** | **Machinery-Diversified 0.8%** | **Machinery-Diversified 0.8%** | **Machinery-Diversified 0.8%** | **Machinery-Diversified 0.8%** |
| CNH Industrial Capital LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 1.875 | &nbsp;&nbsp;01/15/26 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14952642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.500 | &nbsp;&nbsp;10/08/27 | 10500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10578169 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.750 | &nbsp;&nbsp;03/21/28 | 15750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15960151 |
| John Deere Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.440% | 4.629(c) | &nbsp;&nbsp;03/06/26 | 21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21006458 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.600% | 4.772(c) | &nbsp;&nbsp;06/11/27 | 11635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11670852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.800 | &nbsp;&nbsp;01/09/26 | 29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29016880 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103185152 |
| **Media 0.4%** | **Media 0.4%** | **Media 0.4%** | **Media 0.4%** | **Media 0.4%** |
| Comcast Corp.,<br> Gtd. Notes | 2.350 | &nbsp;&nbsp;01/15/27 | 55609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54636947 |
| **Mining 0.6%** | **Mining 0.6%** | **Mining 0.6%** | **Mining 0.6%** | **Mining 0.6%** |
| BHP Billiton Finance USA Ltd. (Australia),<br> Gtd. Notes | 4.875 | &nbsp;&nbsp;02/27/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30040614 |
| Glencore Funding LLC (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR Index + 0.750% | 4.853(c) | &nbsp;&nbsp;10/01/26 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19997934 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.907 | &nbsp;&nbsp;04/01/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12208196 |
| Rio Tinto Finance USA PLC (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.375 | &nbsp;&nbsp;03/12/27 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10062983 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.500 | &nbsp;&nbsp;03/14/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12138384 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84448111 |
| **Miscellaneous Manufacturing 0.4%** | **Miscellaneous Manufacturing 0.4%** | **Miscellaneous Manufacturing 0.4%** | **Miscellaneous Manufacturing 0.4%** | **Miscellaneous Manufacturing 0.4%** |
| Siemens Funding BV (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.350 | &nbsp;&nbsp;05/26/28 | 29900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30274432 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.640% | 4.709(c) | &nbsp;&nbsp;05/26/28 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18005164 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48279596 |
| **Oil & Gas 1.1%** | **Oil & Gas 1.1%** | **Oil & Gas 1.1%** | **Oil & Gas 1.1%** | **Oil & Gas 1.1%** |
| Cenovus Energy, Inc. (Canada),<br> Sr. Unsec'd. Notes | 4.250 | &nbsp;&nbsp;04/15/27 | 33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33017536 |
| Chevron USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.405 | &nbsp;&nbsp;02/26/27 | 33900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34167336 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.475 | &nbsp;&nbsp;02/26/28 | 33900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34427493 |
| EOG Resources, Inc.,<br> Sr. Unsec'd. Notes | 4.400 | &nbsp;&nbsp;07/15/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20226067 |
| Phillips 66 Co.,<br> Gtd. Notes | 3.550 | &nbsp;&nbsp;10/01/26 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5982322 |
| Pioneer Natural Resources Co.,<br> Sr. Unsec'd. Notes | 1.125 | &nbsp;&nbsp;01/15/26 | 21470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21389206 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149209960 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Oil & Gas Services 0.4%** | **Oil & Gas Services 0.4%** | **Oil & Gas Services 0.4%** | **Oil & Gas Services 0.4%** | **Oil & Gas Services 0.4%** |
| Schlumberger Holdings Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 3.900% | &nbsp;&nbsp;05/17/28 | 22500 | &nbsp;&nbsp; $22460372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;05/29/27 | 23750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24073349 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46533721 |
| **Pharmaceuticals 1.9%** | **Pharmaceuticals 1.9%** | **Pharmaceuticals 1.9%** | **Pharmaceuticals 1.9%** | **Pharmaceuticals 1.9%** |
| AbbVie, Inc.,<br> Sr. Unsec'd. Notes | 4.650 | &nbsp;&nbsp;03/15/28 | 49500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50302843 |
| Astrazeneca Finance LLC (United Kingdom),<br> Gtd. Notes | 4.800 | &nbsp;&nbsp;02/26/27 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25275358 |
| Bristol-Myers Squibb Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR + 0.490% | 4.551(c) | &nbsp;&nbsp;02/20/26 | &nbsp;&nbsp;6170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6173567 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.950 | &nbsp;&nbsp;02/20/26 | &nbsp;&nbsp;9250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9273975 |
| Eli Lilly & Co.,<br> Sr. Unsec'd. Notes, SOFR + 0.530% | 4.711(c) | &nbsp;&nbsp;10/15/28 | 22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22115698 |
| GlaxoSmithKline Capital PLC (United Kingdom),<br> Gtd. Notes | 4.315 | &nbsp;&nbsp;03/12/27 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35203175 |
| GlaxoSmithKline Capital, Inc.,<br> Gtd. Notes | 3.875 | &nbsp;&nbsp;05/15/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11998179 |
| Johnson & Johnson,<br> Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;03/01/28 | 19800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20175147 |
| Novartis Capital Corp.,<br> Gtd. Notes | 3.900 | &nbsp;&nbsp;11/05/28 | 36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36970256 |
| Pfizer Investment Enterprises Pte Ltd.,<br> Gtd. Notes | 4.450 | &nbsp;&nbsp;05/19/28 | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3034049 |
| Zoetis, Inc.,<br> Sr. Unsec'd. Notes | 4.150 | &nbsp;&nbsp;08/17/28 | 34000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34207788 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254730035 |
| **Pipelines 2.2%** | **Pipelines 2.2%** | **Pipelines 2.2%** | **Pipelines 2.2%** | **Pipelines 2.2%** |
| Boardwalk Pipelines LP,<br> Gtd. Notes | 5.950 | &nbsp;&nbsp;06/01/26 | 62174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62425413 |
| Enbridge, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.600 | &nbsp;&nbsp;06/20/28 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15169137 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.250 | &nbsp;&nbsp;04/05/27 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19253352 |
| Enterprise Products Operating LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.300 | &nbsp;&nbsp;06/20/28 | 25500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25708773 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.600 | &nbsp;&nbsp;01/11/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20141732 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.050 | &nbsp;&nbsp;01/10/26 | 14750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14760768 |
| MPLX LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 1.750 | &nbsp;&nbsp;03/01/26 | 19379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19255601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.125 | &nbsp;&nbsp;03/01/27 | &nbsp;&nbsp;7530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7523235 |
| ONEOK, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.000 | &nbsp;&nbsp;07/13/27 | &nbsp;&nbsp;6210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6198171 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.250 | &nbsp;&nbsp;09/24/27 | 33740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33826223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.000 | &nbsp;&nbsp;03/01/26 | 10560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10560000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.550 | &nbsp;&nbsp;11/01/26 | 20565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20798273 |
| Williams Cos., Inc. (The),<br> Sr. Unsec'd. Notes | 5.400 | &nbsp;&nbsp;03/02/26 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40126334 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295747012 |
| **Real Estate Investment Trusts (REITs) 0.7%** | **Real Estate Investment Trusts (REITs) 0.7%** | **Real Estate Investment Trusts (REITs) 0.7%** | **Real Estate Investment Trusts (REITs) 0.7%** | **Real Estate Investment Trusts (REITs) 0.7%** |
| Alexandria Real Estate Equities, Inc.,<br> Gtd. Notes | 3.800 | &nbsp;&nbsp;04/15/26 | &nbsp;&nbsp;3370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3363511 |
| Public Storage Operating Co.,<br> Gtd. Notes, SOFR Index + 0.700% | 4.785(c) | &nbsp;&nbsp;04/16/27 | 19773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19821090 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **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.)** |
| Realty Income Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.950% | &nbsp;&nbsp;02/01/29 | 17300 | &nbsp;&nbsp; $17246977 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.125 | &nbsp;&nbsp;10/15/26 | 12500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12506092 |
| Ventas Realty LP,<br> Gtd. Notes | 4.000 | &nbsp;&nbsp;03/01/28 | 19755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19705711 |
| Weyerhaeuser Co.,<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;05/15/26 | 13336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13369631 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86013012 |
| **Retail 1.9%** | **Retail 1.9%** | **Retail 1.9%** | **Retail 1.9%** | **Retail 1.9%** |
| Alimentation Couche-Tard, Inc. (Canada),<br> Sr. Unsec'd. Notes, 144A | 4.148 | &nbsp;&nbsp;09/29/28 | 31500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31564959 |
| Home Depot, Inc. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.750 | &nbsp;&nbsp;09/15/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11994006 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.875 | &nbsp;&nbsp;06/25/27 | 21700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22063924 |
| Lowe's Cos., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.500 | &nbsp;&nbsp;04/15/26 | 24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23853690 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.950 | &nbsp;&nbsp;10/15/27 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24993530 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.000 | &nbsp;&nbsp;10/15/28 | 37450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37447735 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.800 | &nbsp;&nbsp;04/01/26 | 13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13522261 |
| O'Reilly Automotive, Inc.,<br> Sr. Unsec'd. Notes | 5.750 | &nbsp;&nbsp;11/20/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10150082 |
| Starbucks Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;05/15/28 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30307245 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.850 | &nbsp;&nbsp;02/08/27 | 34375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34683175 |
| Target Corp.,<br> Sr. Unsec'd. Notes | 4.350 | &nbsp;&nbsp;06/15/28 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14155237 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254735844 |
| **Semiconductors 0.7%** | **Semiconductors 0.7%** | **Semiconductors 0.7%** | **Semiconductors 0.7%** | **Semiconductors 0.7%** |
| Broadcom, Inc.,<br> Sr. Unsec'd. Notes | 4.800 | &nbsp;&nbsp;04/15/28 | 68800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70106976 |
| Intel Corp.,<br> Sr. Unsec'd. Notes | 2.600 | &nbsp;&nbsp;05/19/26 | 10181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10108883 |
| Microchip Technology, Inc.,<br> Gtd. Notes | 4.900 | &nbsp;&nbsp;03/15/28 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16235494 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96451353 |
| **Software 0.7%** | **Software 0.7%** | **Software 0.7%** | **Software 0.7%** | **Software 0.7%** |
| Cadence Design Systems, Inc.,<br> Sr. Unsec'd. Notes | 4.200 | &nbsp;&nbsp;09/10/27 | &nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6327110 |
| Fidelity National Information Services, Inc.,<br> Sr. Unsec'd. Notes | 1.150 | &nbsp;&nbsp;03/01/26 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4961922 |
| Fiserv, Inc.,<br> Sr. Unsec'd. Notes | 5.150 | &nbsp;&nbsp;03/15/27 | 17187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17348779 |
| Intuit, Inc.,<br> Sr. Unsec'd. Notes | 5.250 | &nbsp;&nbsp;09/15/26 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50463436 |
| Roper Technologies, Inc.,<br> Sr. Unsec'd. Notes | 4.250 | &nbsp;&nbsp;09/15/28 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10043440 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89144687 |
| **Telecommunications 0.8%** | **Telecommunications 0.8%** | **Telecommunications 0.8%** | **Telecommunications 0.8%** | **Telecommunications 0.8%** |
| Cisco Systems, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.950 | &nbsp;&nbsp;02/28/26 | 19573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19512144 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;02/24/28 | 27500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27940452 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.800 | &nbsp;&nbsp;02/26/27 | 24828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25124856 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal 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.)** |
| NTT Finance Corp. (Japan),<br> Sr. Unsec'd. Notes, 144A | 4.567% | &nbsp;&nbsp;07/16/27 | 35000 | &nbsp;&nbsp; $35268264 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107845716 |
| **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** |
| Ryder System, Inc.,<br> Sr. Unsec'd. Notes, MTN | 5.300 | &nbsp;&nbsp;03/15/27 | &nbsp;&nbsp;9483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9618210 |
| Union Pacific Corp.,<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;02/21/26 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16011136 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25629346 |
| **Trucking & Leasing 0.1%** | **Trucking & Leasing 0.1%** | **Trucking & Leasing 0.1%** | **Trucking & Leasing 0.1%** | **Trucking & Leasing 0.1%** |
| Penske Truck Leasing Co. LP/PTL Finance Corp.,<br> Sr. Unsec'd. Notes, 144A | 5.750 | &nbsp;&nbsp;05/24/26 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17603279 |
| **Total Corporate Bonds<br> (cost $5,935,352,412)** | **Total Corporate Bonds<br> (cost $5,935,352,412)** | **Total Corporate Bonds<br> (cost $5,935,352,412)** | **Total Corporate Bonds<br> (cost $5,935,352,412)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5970752294 |
| **Residential Mortgage-Backed Securities 1.6%** | **Residential Mortgage-Backed Securities 1.6%** | **Residential Mortgage-Backed Securities 1.6%** | **Residential Mortgage-Backed Securities 1.6%** | **Residential Mortgage-Backed Securities 1.6%** |
| Angel Oak Mortgage Trust,<br> Series 2025-12, Class A1, 144A | 5.039(cc) | &nbsp;&nbsp;12/25/70 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20030692 |
| Credit Suisse Mortgage Trust,<br> Series 2019-RPL01, Class A1A, 144A | 3.650(cc) | &nbsp;&nbsp;07/25/58 | &nbsp;&nbsp;2961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2917868 |
| Cross Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-H08, Class A1, 144A | 5.003(cc) | &nbsp;&nbsp;11/25/70 | 11870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11896483 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-H09, Class A1, 144A | 5.036(cc) | &nbsp;&nbsp;11/25/70 | 24100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24150396 |
| GCAT Trust,<br> Series 2025-NQM07, Class A1, 144A | 5.036(cc) | &nbsp;&nbsp;11/25/70 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20028968 |
| HOMES Trust,<br> Series 2025-NQM05, Class A1, 144A | 5.027(cc) | &nbsp;&nbsp;09/25/70 | &nbsp;&nbsp;9905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9912136 |
| OBX Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM04, Class A1, 144A | 5.400(cc) | &nbsp;&nbsp;02/25/55 | 15744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15819980 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM20, Class A1, 144A | 5.021(cc) | &nbsp;&nbsp;10/25/65 | &nbsp;&nbsp;8528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8568005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM21, Class A1FC, 144A | 4.917(cc) | &nbsp;&nbsp;10/25/65 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25037980 |
| Towd Point Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-02, Class A1, 144A | 3.250(cc) | &nbsp;&nbsp;03/25/58 | &nbsp;&nbsp;1782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764207 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-05, Class A1A, 144A | 3.250(cc) | &nbsp;&nbsp;07/25/58 | &nbsp;&nbsp;2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049668 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-SJ01, Class A1, 144A | 2.250(cc) | &nbsp;&nbsp;07/25/68 | &nbsp;&nbsp;3922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800222 |
| Verus Securitization Trust,<br> Series 2025-10, Class A1FC, 144A | 5.017(cc) | &nbsp;&nbsp;06/25/70 | 62380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62515719 |
| **Total Residential Mortgage-Backed Securities<br> (cost $208,177,152)** | **Total Residential Mortgage-Backed Securities<br> (cost $208,177,152)** | **Total Residential Mortgage-Backed Securities<br> (cost $208,177,152)** | **Total Residential Mortgage-Backed Securities<br> (cost $208,177,152)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208492324 |
| **U.S. Treasury Obligations(k) 0.3%** | **U.S. Treasury Obligations(k) 0.3%** | **U.S. Treasury Obligations(k) 0.3%** | **U.S. Treasury Obligations(k) 0.3%** | **U.S. Treasury Obligations(k) 0.3%** |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;11/15/27 | 31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31357227 |
| U.S. Treasury Notes | 4.250 | &nbsp;&nbsp;01/15/28 | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030312 |
| **Total U.S. Treasury Obligations<br> (cost $32,914,905)** | **Total U.S. Treasury Obligations<br> (cost $32,914,905)** | **Total U.S. Treasury Obligations<br> (cost $32,914,905)** | **Total U.S. Treasury Obligations<br> (cost $32,914,905)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33387539 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | |
|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Affiliated Exchange-Traded Fund 1.2%** | **Affiliated Exchange-Traded Fund 1.2%** | **Affiliated Exchange-Traded Fund 1.2%** | **Affiliated Exchange-Traded Fund 1.2%** |
| PGIM AAA CLO ETF<br> (cost $159,005,781)(wa) | PGIM AAA CLO ETF<br> (cost $159,005,781)(wa) | &nbsp;&nbsp;&nbsp;&nbsp;3100500 | &nbsp;&nbsp; $159520725 |
| **Total Long-Term Investments<br> (cost $10,781,907,426)** | **Total Long-Term Investments<br> (cost $10,781,907,426)** | **Total Long-Term Investments<br> (cost $10,781,907,426)** | &nbsp;&nbsp;&nbsp;&nbsp;10836340074 |
| **Short-Term Investments 17.6%** | **Short-Term Investments 17.6%** | **Short-Term Investments 17.6%** | **Short-Term Investments 17.6%** |
| **Affiliated Mutual Fund 1.4%** |  |  |  |
| PGIM Core Government Money Market Fund (7-day effective yield 4.111%)<br> (cost $191,449,668)(wa) |  | &nbsp;&nbsp;191449668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191449668 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** |  |
| **Certificates of Deposit 2.7%** | **Certificates of Deposit 2.7%** | **Certificates of Deposit 2.7%** | **Certificates of Deposit 2.7%** | **Certificates of Deposit 2.7%** | **Certificates of Deposit 2.7%** |
| BNP Paribas SA, SOFR + 0.360% | 4.410 %(c) | &nbsp;&nbsp;11/05/26 |  | &nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50006485 |
| Intesa Sanpaolo SpA | 4.270 | &nbsp;&nbsp;06/30/26 |  | &nbsp;&nbsp;102500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102557144 |
| Natixis SA, SOFR + 0.360% | 4.410(c) | &nbsp;&nbsp;10/09/26 |  | &nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64999720 |
| Svenska Handelsbanken, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.310% (Cap N/A, Floor 0.000%) | 4.320(c) | &nbsp;&nbsp;09/16/26 |  | &nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24998850 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.310% (Cap N/A, Floor 0.000%) | 4.320(c) | &nbsp;&nbsp;09/24/26 |  | &nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24997893 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.400% | 4.410(c) | &nbsp;&nbsp;04/15/26 |  | &nbsp;&nbsp;&nbsp;24500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24523650 |
| Swedbank AB, SOFR + 0.310% | 4.320(c) | &nbsp;&nbsp;09/16/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9002492 |
| Toronto-Dominion Bank (The), SOFR + 0.450% | 4.460(c) | &nbsp;&nbsp;04/23/26 |  | &nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27030950 |
| Westpac Banking Corp., SOFR + 0.320% | 4.370(c) | &nbsp;&nbsp;07/02/26 |  | &nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25013522 |
| **Total Certificates of Deposit<br> (cost $353,000,000)** | **Total Certificates of Deposit<br> (cost $353,000,000)** | **Total Certificates of Deposit<br> (cost $353,000,000)** | **Total Certificates of Deposit<br> (cost $353,000,000)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353130706 |
| **Commercial Paper 13.5%** | **Commercial Paper 13.5%** | **Commercial Paper 13.5%** | **Commercial Paper 13.5%** | **Commercial Paper 13.5%** | **Commercial Paper 13.5%** |
| Agree LP,<br> 144A | 4.156(n) | &nbsp;&nbsp;12/04/25 |  | &nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8993546 |
| Alexandria Real Estate Equities, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.206(n) | &nbsp;&nbsp;12/01/25 |  | &nbsp;&nbsp;&nbsp;51950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51931984 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.239(n) | &nbsp;&nbsp;12/12/25 |  | &nbsp;&nbsp;&nbsp;28600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28553476 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.251(n) | &nbsp;&nbsp;12/15/25 |  | &nbsp;&nbsp;&nbsp;71400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71259064 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.376(n) | &nbsp;&nbsp;01/09/26 |  | &nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24879360 |
| Alimentation Couche-Tard, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.159(n) | &nbsp;&nbsp;01/12/26 |  | &nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12932400 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.165(n) | &nbsp;&nbsp;12/05/25 |  | &nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14488384 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.194(n) | &nbsp;&nbsp;01/21/26 |  | &nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52669280 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.194(n) | &nbsp;&nbsp;01/22/26 |  | &nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27822043 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.249(n) | &nbsp;&nbsp;01/13/26 |  | &nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22380399 |
| American Honda Finance Corp. | 4.266(n) | &nbsp;&nbsp;02/06/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3967800 |
| American Honda Finance Corp. | 4.291(n) | &nbsp;&nbsp;01/13/26 |  | &nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19895120 |
| Bank of America Securities, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.320% | 4.590(c) | &nbsp;&nbsp;05/28/26 |  | &nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35017112 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.330% | 4.380(c) | &nbsp;&nbsp;08/05/26 |  | &nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25006068 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.350% | 4.470(c) | &nbsp;&nbsp;10/28/26 |  | &nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14494346 |
| Bank of Montreal,<br> 144A, SOFR + 0.370% | 4.420(c) | &nbsp;&nbsp;05/27/26 |  | &nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17005825 |
| Bayer Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.638(n) | &nbsp;&nbsp;08/05/26 |  | &nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29172222 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.746(n) | &nbsp;&nbsp;07/20/26 |  | &nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30197224 |
| Bell Canada, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.261(n) | &nbsp;&nbsp;12/19/25 |  | &nbsp;&nbsp;&nbsp;31500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31425468 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.262(n) | &nbsp;&nbsp;12/18/25 |  | &nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15963950 |
| Cabot Corp.,<br> 144A | 4.177(n) | &nbsp;&nbsp;12/11/25 |  | &nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5991306 |
| Carrier Global Corp. | 4.174(n) | &nbsp;&nbsp;12/05/25 |  | &nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41966925 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** |
| CBRE Services, Inc.,<br> 144A | 4.180 %(n) | &nbsp;&nbsp;12/11/25 | 62900 | &nbsp;&nbsp; $62809034 |
| Enbridge, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.182(n) | &nbsp;&nbsp;12/01/25 | 23450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23442076 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.194(n) | &nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5985769 |
| Glencore Funding LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.244(n) | &nbsp;&nbsp;12/10/25 | 12100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12083160 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.349(n) | &nbsp;&nbsp;12/15/25 | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495073 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.406(n) | &nbsp;&nbsp;12/19/25 | 93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92773452 |
| Healthpeak OP LLC | 4.143(n) | &nbsp;&nbsp;12/03/25 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16990205 |
| ING (U.S.) Funding LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.340% | 4.350(c) | &nbsp;&nbsp;07/06/26 | 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45023985 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.340% | 4.350(c) | &nbsp;&nbsp;08/18/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10004527 |
| Johnson Controls International PLC,<br> 144A | 4.226(n) | &nbsp;&nbsp;12/19/25 | 52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51874898 |
| JPMorgan Securities LLC,<br> 144A, SOFR + 0.430% | 4.440(c) | &nbsp;&nbsp;04/29/26 | 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45015020 |
| Microchip Technology, Inc.,<br> 144A | 4.177(n) | &nbsp;&nbsp;12/05/25 | 48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47959958 |
| NextEra Energy Capital Holdings, Inc.,<br> 144A | 4.299(n) | &nbsp;&nbsp;12/05/25 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19984172 |
| NTT Finance Corp. | 4.166(n) | &nbsp;&nbsp;01/08/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9953552 |
| NTT Finance Corp. | 4.172(n) | &nbsp;&nbsp;12/02/25 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24988918 |
| NTT Finance Corp. | 4.190(n) | &nbsp;&nbsp;12/11/25 | 63000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62907459 |
| Phillips 66, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.146(n) | &nbsp;&nbsp;12/03/25 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9994341 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.156(n) | &nbsp;&nbsp;12/08/25 | 63000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62928577 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.157(n) | &nbsp;&nbsp;12/09/25 | 29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28963831 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.195(n) | &nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496764 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.216(n) | &nbsp;&nbsp;12/01/25 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13995254 |
| Royal Bank of Canada,<br> 144A, SOFR + 0.340% | 4.390(c) | &nbsp;&nbsp;10/30/26 | 58000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57995076 |
| Sempra, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.170(n) | &nbsp;&nbsp;01/08/26 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14930004 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.312(n) | &nbsp;&nbsp;01/09/26 | 56500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56229873 |
| Skandinaviska Enskilda Banken AB,<br> 144A, SOFR + 0.310% | 4.320(c) | &nbsp;&nbsp;09/08/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30005631 |
| Suncor Energy, Inc.,<br> 144A | 4.168(n) | &nbsp;&nbsp;12/11/25 | 90800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90665643 |
| Svenska Handelsbanken,<br> 144A, SOFR + 0.300% | 4.310(c) | &nbsp;&nbsp;10/19/26 | 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44988336 |
| Swedbank AB,<br> 144A, SOFR + 0.310% | 4.320(c) | &nbsp;&nbsp;09/09/26 | 33500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33509913 |
| TransCanada PipeLines Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.192(n) | &nbsp;&nbsp;12/12/25 | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10982595 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.226(n) | &nbsp;&nbsp;12/05/25 | 31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30975529 |
| UDR, Inc.,<br> 144A | 4.146(n) | &nbsp;&nbsp;12/16/25 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34928810 |
| VW Credit, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.218(n) | &nbsp;&nbsp;03/12/26 | &nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7412067 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.224(n) | &nbsp;&nbsp;03/24/26 | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4441172 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.231(n) | &nbsp;&nbsp;04/07/26 | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3547278 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.238(n) | &nbsp;&nbsp;02/05/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9921915 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.402(n) | &nbsp;&nbsp;03/19/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29624667 |
| Welltower, Inc.,<br> 144A | 4.187(n) | &nbsp;&nbsp;12/04/25 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34976393 |

---

------

### PGIM Ultra Short Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** |
| Westpac Banking Corp.,<br> 144A, SOFR + 0.300% | 4.350 %(c) | &nbsp;&nbsp;10/08/26 | 45000 | &nbsp;&nbsp; $44993165 |
| **Total Commercial Paper<br> (cost $1,777,966,878)** | **Total Commercial Paper<br> (cost $1,777,966,878)** | **Total Commercial Paper<br> (cost $1,777,966,878)** | **Total Commercial Paper<br> (cost $1,777,966,878)** | &nbsp;&nbsp;&nbsp;&nbsp;1777811394 |
| **Total Short-Term Investments<br> (cost $2,322,416,546)** | **Total Short-Term Investments<br> (cost $2,322,416,546)** | **Total Short-Term Investments<br> (cost $2,322,416,546)** | **Total Short-Term Investments<br> (cost $2,322,416,546)** | &nbsp;&nbsp;&nbsp;&nbsp;2322391768 |
| **TOTAL INVESTMENTS 99.6%<br> (cost $13,104,323,972)** | **TOTAL INVESTMENTS 99.6%<br> (cost $13,104,323,972)** | **TOTAL INVESTMENTS 99.6%<br> (cost $13,104,323,972)** | **TOTAL INVESTMENTS 99.6%<br> (cost $13,104,323,972)** | &nbsp;&nbsp;&nbsp;13158731842 |
| Other assets in excess of liabilities(z) 0.4% | Other assets in excess of liabilities(z) 0.4% | Other assets in excess of liabilities(z) 0.4% | Other assets in excess of liabilities(z) 0.4% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50175615 |
| **Net Assets 100.0%** | **Net Assets 100.0%** | **Net Assets 100.0%** | **Net Assets 100.0%** | $13208907457 |

---

------

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

---

| |
|:---|
| 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 |
| CLO—Collateralized Loan Obligation |
| CME—Chicago Mercantile Exchange |
| ETF—Exchange-Traded Fund |
| GMTN—Global Medium Term Note |
| LP—Limited Partnership |
| MTN—Medium Term Note |
| N/A—Not Applicable |
| REITs—Real Estate Investment Trust |
| SOFR—Secured Overnight Financing Rate |

---

# Principal or notional amount is shown in U.S. dollars unless otherwise stated.

(c) Variable rate instrument. The interest rate shown reflects the rate in effect at November 30, 2025.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of November 30, 2025. 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.

(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.

(n) Rate shown reflects yield to maturity at purchased date.

(wa) Represents investments in Funds affiliated with the Manager.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at November 30, 2025:** | **Futures contracts outstanding at November 30, 2025:** | **Futures contracts outstanding at November 30, 2025:** | **Futures contracts outstanding at November 30, 2025:** | **Futures contracts outstanding at November 30, 2025:** |
| **Number<br> of<br> Contracts** | **Type** | **Expiration<br> Date** | **Current<br> Notional<br> Amount** | **Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Short Position:** | **Short Position:** | **Short Position:** | **Short Position:** | **Short Position:** |
| 16 | 3 Month CME SOFR | Dec. 2025 | $3835900 | $(1102) |

---

#### Interest rate swap agreements outstanding at November 30, 2025 :

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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> 2025** | &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:** |
| 216000 | &nbsp;&nbsp;12/01/25 | &nbsp;&nbsp;4.041%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp; $(1425) | &nbsp;&nbsp;&nbsp;&nbsp; $781549 | &nbsp;&nbsp;&nbsp;&nbsp; $782974 |
| 46750 | &nbsp;&nbsp;01/11/26 | &nbsp;&nbsp;3.783%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254806 |
| 45000 | &nbsp;&nbsp;02/01/26 | &nbsp;&nbsp;3.850%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187511 |
| 70000 | &nbsp;&nbsp;02/27/26 | &nbsp;&nbsp;4.345%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75829) |
| 120100 | &nbsp;&nbsp;02/28/26 | &nbsp;&nbsp;4.453%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(259446) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306235) |
| 4700 | &nbsp;&nbsp;03/02/26 | &nbsp;&nbsp;4.030%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(489) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10085 |
| 75000 | &nbsp;&nbsp;05/17/26 | &nbsp;&nbsp;3.535%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401249 |
| 73000 | &nbsp;&nbsp;05/22/26 | &nbsp;&nbsp;4.171%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80566) |

---

------

### PGIM Ultra Short Bond ETF

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

#### Interest rate swap agreements outstanding at November 30, 2025 (continued):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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> 2025** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |
| 60000 | &nbsp;&nbsp;08/18/26 | &nbsp;&nbsp;4.442%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp; $60407 | &nbsp;&nbsp;&nbsp;&nbsp; $(370009) | &nbsp;&nbsp;&nbsp;&nbsp; $(430416) |
| 8700 | &nbsp;&nbsp;08/21/26 | &nbsp;&nbsp;3.781%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2368 |
| 18000 | &nbsp;&nbsp;09/05/26 | &nbsp;&nbsp;3.680%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19224 |
| 242500 | &nbsp;&nbsp;09/14/26 | &nbsp;&nbsp;4.550%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73249) | &nbsp;&nbsp;&nbsp;&nbsp;(1932074) | &nbsp;&nbsp;&nbsp;&nbsp;(1858825) |
| 25000 | &nbsp;&nbsp;11/20/26 | &nbsp;&nbsp;4.077%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132155) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132155) |
| 299000 | &nbsp;&nbsp;01/04/27 | &nbsp;&nbsp;3.834%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;1159001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(811760) |
| 86000 | &nbsp;&nbsp;02/13/27 | &nbsp;&nbsp;4.527%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(324305) | &nbsp;&nbsp;&nbsp;&nbsp;(1213052) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(888747) |
| 217200 | &nbsp;&nbsp;03/05/27 | &nbsp;&nbsp;3.859%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(157366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(327562) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170196) |
| 92190 | &nbsp;&nbsp;03/18/27 | &nbsp;&nbsp;4.304%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(235135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(996756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(761621) |
| 35000 | &nbsp;&nbsp;05/21/27 | &nbsp;&nbsp;4.050%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(284689) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(284689) |
| 195450 | &nbsp;&nbsp;05/23/27 | &nbsp;&nbsp;4.463%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(624133) | &nbsp;&nbsp;&nbsp;&nbsp;(3199203) | &nbsp;&nbsp;&nbsp;&nbsp;(2575070) |
| 137230 | &nbsp;&nbsp;08/09/27 | &nbsp;&nbsp;3.600%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(261304) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(313885) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52581) |
| 104740 | &nbsp;&nbsp;09/12/27 | &nbsp;&nbsp;3.212%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335494 |
| 37300 | &nbsp;&nbsp;11/15/27 | &nbsp;&nbsp;3.630%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(229735) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352307) |
| 113970 | &nbsp;&nbsp;11/25/27 | &nbsp;&nbsp;4.000%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(902847) | &nbsp;&nbsp;&nbsp;&nbsp;(1542944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(640097) |
| 36300 | &nbsp;&nbsp;11/26/27 | &nbsp;&nbsp;3.296%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4377 |
| 70000 | &nbsp;&nbsp;01/07/28 | &nbsp;&nbsp;4.110%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12334 | &nbsp;&nbsp;&nbsp;&nbsp;(1005426) | &nbsp;&nbsp;&nbsp;&nbsp;(1017760) |
| 299600 | &nbsp;&nbsp;01/16/28 | &nbsp;&nbsp;4.249%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;(1147835) | &nbsp;&nbsp;&nbsp;&nbsp;(5622359) | &nbsp;&nbsp;&nbsp;&nbsp;(4474524) |
| 131615 | &nbsp;&nbsp;02/27/28 | &nbsp;&nbsp;3.860%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;(1125783) | &nbsp;&nbsp;&nbsp;&nbsp;(1159286) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33503) |
| 261800 | &nbsp;&nbsp;06/30/28 | &nbsp;&nbsp;3.445%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(432866) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(238901) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193965 |
| 28300 | &nbsp;&nbsp;01/29/29 | &nbsp;&nbsp;3.370%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62923) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66793) |
| 106500 | &nbsp;&nbsp;08/01/29 | &nbsp;&nbsp;3.541%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(587421) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(771546) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(184125) |
|  |  |  |  | &nbsp;&nbsp;$(4349242) | &nbsp;&nbsp;$(17354988) | &nbsp;&nbsp;$(13005746) |

---

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

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

*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 Ultra Short Bond ETF

- **b. EDGAR series identifier (if any):** S000061589

- **c. LEI of Series:** 549300GB8HES91GNEF23

**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:** $13352818091.40

**Total Liabilities:** $137612111.34

**Net Assets:** $13215205980.06

**Delayed Delivery Securities:** $36388083.80

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 76286.76604000 | **1-Year:** 1005868.42425000 | **5-Year:** 947192.56866000 | **10-Year:** 5343.02532000 | **30-Year:** 185.76743000

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

- **3-Month:** 0.00000000 | **1-Year:** 2234.64709000 | **5-Year:** 10682.38815000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000199488 | 0.41%                | 0.38%                | 0.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $714227.56               | $3140565.96                                |
| Month 2  | $638681.26               | $-6640196.81                               |
| Month 3  | $1010513.67              | $4471450.11                                |

**Designated Index Information**

- **Index Name:** PGIM Ultra Short Bond ETF_Ex Derivatives BM

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO MERCANTILE EXCHANGE INC.                 | 3 MONTH SOFR                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -16 | NC      | $-1101.60     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $443211.42    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                         | Principal Life Global Funding II                                   | CUSIP: 74256LFA2<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25205996.09  | 0.19%             | 2027-08-19      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                   | Amazon.com Inc                                                     | CUSIP: 023135CN4<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |  32000000 | PA      | $32000000.00  | 0.24%             | 2025-12-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                 | Georgia Power Co                                                   | CUSIP: 373334LC3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |  21000000 | PA      | $21049530.02  | 0.16%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                     | Enbridge Inc                                                       | CUSIP: 29250NCA1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  19000000 | PA      | $19253351.70  | 0.15%             | 2027-04-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd                                 | GREYWOLF CLO VII Ltd                                               | CUSIP: 39809AAA6<br>LEI: 5493005EEKUYF0Q6Z361 | Long             | ABS-CBDO         | CORP              | KY        |   1661640 | PA      | $1661563.61   | 0.01%             | 2031-10-20      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| SKANDINAVISKA ENSKILDA                           | Skandinaviska Enskilda Banken AB                                   | CUSIP: 830505BC6<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |  13500000 | PA      | $13548223.35  | 0.10%             | 2028-06-02      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| NESTLE HOLDINGS INC                              | Nestle Holdings Inc                                                | CUSIP: 641062BK9<br>LEI: 549300EAEU8YV8MQXP30 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20062346.16  | 0.15%             | 2026-03-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                      | WESTPAC BANKING CORP                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |  45000000 | PA      | $44993164.50  | 0.34%             | 2026-10-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                         | Alimentation Couche-Tard Inc                                       | CUSIP: 01626PAW6<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |  31500000 | PA      | $31564959.30  | 0.24%             | 2028-09-29      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                               | BMW US Capital LLC                                                 | CUSIP: 05565ECW3<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  29800000 | PA      | $30255072.82  | 0.23%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $2638.51      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Senior Loan Fund LTD                       | Atlas Senior Loan Fund XVII Ltd                                    | CUSIP: 04942FAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  42500000 | PA      | $42500000.00  | 0.32%             | 2034-10-20      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                           | Commonwealth Bank of Australia                                     | CUSIP: 2027A0KW8<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |  20700000 | PA      | $20781531.09  | 0.16%             | 2028-03-14      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                   | Eli Lilly & Co                                                     | CUSIP: 532457DA3<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |  22000000 | PA      | $22115698.25  | 0.17%             | 2028-10-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                  | Nordea Bank Abp                                                    | CUSIP: 65558RAL3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |  24750000 | PA      | $24977054.03  | 0.19%             | 2028-03-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Silver Rock CLO Ltd                              | Silver Rock CLO II Ltd                                             | CUSIP: 82812LAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  41750000 | PA      | $41683200.00  | 0.32%             | 2035-01-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2017-IV Ltd                                           | CUSIP: 12551JAL0<br>LEI: 254900JEH56UBUEZJW15 | Long             | ABS-CBDO         | CORP              | KY        |   4668924 | PA      | $4668606.73   | 0.04%             | 2030-10-24      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                              | LCM 34 Ltd                                                         | CUSIP: 50203CAL7<br>LEI: 54930038DJKYPKSVRB29 | Long             | ABS-CBDO         | CORP              | KY        |  40000000 | PA      | $40000484.00  | 0.30%             | 2034-10-20      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2021-SJ1                                 | CUSIP: 89180FCD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3922375 | PA      | $3800222.15   | 0.03%             | 2068-07-25      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                           | UnitedHealth Group Inc                                             | CUSIP: 91324PFN7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10119785.95  | 0.08%             | 2028-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                   | JP Morgan Chase Commercial Mortgage Securities Trust 2015-JP1      | CUSIP: 46590KAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3758742 | PA      | $3744422.03   | 0.03%             | 2049-01-15      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $19221.15     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK8                                                     | CUSIP: 06650AAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17699319 | PA      | $17466966.00  | 0.13%             | 2050-11-15      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | BOFA SECURITIES INC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25006067.50  | 0.19%             | 2026-08-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                     | Stryker Corp                                                       | CUSIP: 863667BJ9<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30223212.04  | 0.23%             | 2027-02-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TA 0.00 13JAN26              | ALIMENTATION COUCHE-TA 0.00 13JAN26                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22500000 | PA      | $22380399.00  | 0.17%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SKANDINAVISKA ENSKILDA                           | Skandinaviska Enskilda Banken AB                                   | CUSIP: 830505BE2<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |  35000000 | PA      | $35386907.50  | 0.27%             | 2028-06-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2025-NQM20 Trust                                               | CUSIP: 67126GAC6<br>LEI: 254900Y8CC35WOVR8295 | Long             | ABS-MBS          | CORP              | US        |   8528477 | PA      | $8568004.96   | 0.06%             | 2065-10-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Allegany Park CLO, Ltd.                          | Allegany Park CLO Ltd                                              | CUSIP: 017154AU9<br>LEI: 549300D5KL0IVFLIND32 | Long             | ABS-CBDO         | CORP              | KY        |  20000000 | PA      | $20008050.00  | 0.15%             | 2035-01-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS3                              | CUSIP: 36251PAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11040000 | PA      | $10891545.12  | 0.08%             | 2049-10-10      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2018-5                                   | CUSIP: 89176VAK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2070253 | PA      | $2049667.76   | 0.02%             | 2058-07-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                   | OneMain Direct Auto Receivables Trust 2023-1                       | CUSIP: 682685AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17100000 | PA      | $17250261.12  | 0.13%             | 2029-11-14      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-240455.55   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                         | Citigroup Global Markets Holdings Inc/United States                | CUSIP: 17291LZD0<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40061877.33  | 0.30%             | 2026-05-26      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                           | Northwoods Capital XII-B Ltd                                       | CUSIP: 66858CAN7<br>LEI: 549300R06FSYRU75ZW78 | Long             | ABS-CBDO         | CORP              | KY        |   8032794 | PA      | $8036994.68   | 0.06%             | 2031-06-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                              | SOUND POINT CLO VII-R Ltd                                          | CUSIP: 83610HAL4<br>LEI: 549300IYECLSB6ZQZB89 | Long             | ABS-CBDO         | CORP              | KY        |   2720512 | PA      | $2720778.32   | 0.02%             | 2031-10-23      | Floating      | 5.19%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WEC1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   9750000 | PA      | $9753563.18   | 0.07%             | 2026-01-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NOVARTIS CAPITAL CORP                            | Novartis Capital Corp                                              | CUSIP: 66989HAX6<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |  36800000 | PA      | $36970256.34  | 0.28%             | 2028-11-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ADE4<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40152041.23  | 0.30%             | 2027-06-24      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BK AUSTR NY                         | Commonwealth Bank of Australia/New York NY                         | CUSIP: 20271RAV2<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |  17400000 | PA      | $17637957.18  | 0.13%             | 2028-03-14      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                   | CSAIL 2016-C7 Commercial Mortgage Trust                            | CUSIP: 12637UAV1<br>LEI: 5493006MX7HG5PC85C29 | Long             | ABS-MBS          | CORP              | US        |   3498568 | PA      | $3480974.81   | 0.03%             | 2049-11-15      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                           | Philip Morris International Inc                                    | CUSIP: 718172DR7<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30121982.21  | 0.23%             | 2028-04-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C33        | CUSIP: 61767CAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17840000 | PA      | $17661503.66  | 0.13%             | 2050-05-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-260169.89   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680BR3<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |  10560000 | PA      | $10560000.00  | 0.08%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                               | BMW US Capital LLC                                                 | CUSIP: 05565ECU7<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  18900000 | PA      | $19023984.00  | 0.14%             | 2027-03-19      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2015-GC31                      | CUSIP: 17323YAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1598067 | PA      | $1571121.68   | 0.01%             | 2048-06-10      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE AMERICAS INC                         | NTT FINANCE AMERICAS INC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9953552.00   | 0.08%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2024-CES3                                      | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6351499 | PA      | $6443357.52   | 0.05%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                     | Stryker Corp                                                       | CUSIP: 863667BK6<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |  22500000 | PA      | $22851804.33  | 0.17%             | 2028-02-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| TCW Ltd                                          | TCW CLO 2020-1 Ltd                                                 | CUSIP: 87190CBG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  25000000 | PA      | $24982907.50  | 0.19%             | 2034-04-20      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                      | Balboa Bay Loan Funding 2023-1 Ltd                                 | CUSIP: 05765DAR6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  40000000 | PA      | $39999384.00  | 0.30%             | 2036-04-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                          | National Australia Bank Ltd                                        | CUSIP: 632525BM2<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |  14286000 | PA      | $14287085.74  | 0.11%             | 2025-12-10      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                              | LCM 39 Ltd                                                         | CUSIP: 50204NAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |  50000000 | PA      | $50040200.00  | 0.38%             | 2034-10-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-284897.48   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                         | ALIMENTATION COUCHE-TARD INC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  13000000 | PA      | $12932400.00  | 0.10%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                 | Trinitas CLO VI Ltd                                                | CUSIP: 89640YBQ6<br>LEI: 549300IUAXGLQ814UD95 | Long             | ABS-CBDO         | CORP              | KY        |  51000000 | PA      | $50989172.70  | 0.39%             | 2034-01-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| MOLSON COORS BEVERAGE                            | Molson Coors Beverage Co                                           | CUSIP: 60871RAG5<br>LEI: 54930073LBBH6ZCBE225 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6951529.58   | 0.05%             | 2026-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2017-GS7                              | CUSIP: 36254CAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  32020000 | PA      | $31603458.22  | 0.24%             | 2050-08-10      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS3                              | CUSIP: 36251PAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18160505 | PA      | $17993615.33  | 0.14%             | 2049-10-10      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2017-C38                     | CUSIP: 95001MAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14822202 | PA      | $14628123.40  | 0.11%             | 2050-07-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                  | Chevron USA Inc                                                    | CUSIP: 166756AZ9<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |  33900000 | PA      | $34167335.48  | 0.26%             | 2027-02-26      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                       | Intuit Inc                                                         | CUSIP: 46124HAE6<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50463436.06  | 0.38%             | 2026-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                            | Sixth Street CLO VIII Ltd                                          | CUSIP: 83012VAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  46500000 | PA      | $46504217.55  | 0.35%             | 2034-10-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                   | Avis Budget Rental Car Funding AESOP LLC                           | CUSIP: 05377RFK5<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |  17500000 | PA      | $17506025.25  | 0.13%             | 2027-02-20      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-229767.62   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TMR3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10007968.47  | 0.08%             | 2026-04-10      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                      | Balboa Bay Loan Funding 2021-2 Ltd                                 | CUSIP: 05766GAL1<br>LEI: 549300N3EVICXRV85R74 | Long             | ABS-CBDO         | CORP              | KY        |  24070000 | PA      | $24072517.72  | 0.18%             | 2035-01-20      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN NY                         | Svenska Handelsbanken/New York NY                                  | CUSIP: 86959TNB8<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | US        |  24500000 | PA      | $24523649.85  | 0.19%             | 2026-04-15      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| Mountain View CLO Ltd                            | Mountain View CLO 2013-1 Ltd                                       | CUSIP: 62431UBC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2493289 | PA      | $2493204.80   | 0.02%             | 2030-10-12      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2021-LGCY                                                 | CUSIP: 12434DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12690000 | PA      | $12638904.98  | 0.10%             | 2036-10-15      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                      | PepsiCo Inc                                                        | CUSIP: 713448FW3<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |  26000000 | PA      | $26292719.53  | 0.20%             | 2026-11-10      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                          | Arthur J Gallagher & Co                                            | CUSIP: 04316JAK5<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |  23606000 | PA      | $23835049.01  | 0.18%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                          | Australia & New Zealand Banking Group Ltd                          | CUSIP: 05252ADJ7<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |  33600000 | PA      | $33751351.20  | 0.26%             | 2027-01-18      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF II                               | Pacific Life Global Funding II                                     | CUSIP: 6944PL3K3<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |  35000000 | PA      | $35113209.22  | 0.27%             | 2028-07-10      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XEQ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   9375000 | PA      | $9529097.14   | 0.07%             | 2027-05-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-132183.31   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                            | Rio Tinto Finance USA PLC                                          | CUSIP: 76720AAR7<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |  12000000 | PA      | $12138384.00  | 0.09%             | 2028-03-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bank5                                            | BANK5 2024-5YR7                                                    | CUSIP: 06211UBL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18500000 | PA      | $19362131.45  | 0.15%             | 2057-06-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP NY                          | Westpac Banking Corp/NY                                            | CUSIP: 96130AC30<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25013522.50  | 0.19%             | 2026-07-02      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2017-GS6                              | CUSIP: 36253PAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14449334 | PA      | $14223639.59  | 0.11%             | 2050-05-10      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 0 12/25                              | PHILLIPS 66 0 12/25                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  63000000 | PA      | $62928576.90  | 0.48%             | 2025-12-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2025-NQM4 Trust                                                | CUSIP: 67120QAA4<br>LEI: 254900IAVXYLOCPK6W54 | Long             | ABS-MBS          | CORP              | US        |  15744384 | PA      | $15819980.30  | 0.12%             | 2055-02-25      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| BELL CDA DISC COML PAPE 0.0 19DEC25              | BELL CDA DISC COML PAPE 0.0 19DEC25                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  31500000 | PA      | $31425467.85  | 0.24%             | 2025-12-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                   | Lowe's Cos Inc                                                     | CUSIP: 548661DM6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |  24000000 | PA      | $23853689.92  | 0.18%             | 2026-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                          | Astrazeneca Finance LLC                                            | CUSIP: 04636NAK9<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25275357.50  | 0.19%             | 2027-02-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                         | ALIMENTATION COUCHE-TARD INC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  14500000 | PA      | $14488384.05  | 0.11%             | 2025-12-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $255265.21    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shackleton CLO LTD                               | Shackleton 2015-VII-R CLO Ltd                                      | CUSIP: 81883AAS8<br>LEI: 549300NCJRO2LKFZ8G86 | Long             | ABS-CBDO         | CORP              | KY        |  13613015 | PA      | $13607093.22  | 0.10%             | 2031-07-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                       | CUSIP: 90351DAF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  10000000 | PA      | $10001492.00  | 0.08%             | 2026-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                          | National Australia Bank Ltd                                        | CUSIP: 632525BW0<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |  20000000 | PA      | $20042260.00  | 0.15%             | 2027-10-26      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JAN7<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $13000000.00  | 0.10%             | 2026-01-09      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                               | BMO 2024-5C6 Mortgage Trust                                        | CUSIP: 05593QAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11330000 | PA      | $11695789.05  | 0.09%             | 2057-09-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE US INC                                  | ENBRIDGE US INC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5985769.20   | 0.05%             | 2025-12-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS NY                                   | BNP PARIBAS NY                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26700000 | PA      | $26732397.78  | 0.20%             | 2026-02-17      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                            | Rio Tinto Finance USA PLC                                          | CUSIP: 76720AAQ9<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10062983.00  | 0.08%             | 2027-03-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                | State Street Corp                                                  | CUSIP: 857477CU5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  43400000 | PA      | $44064825.19  | 0.33%             | 2028-02-28      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV                          | Fidelity National Information Services Inc                         | CUSIP: 31620MBR6<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4961922.30   | 0.04%             | 2026-03-01      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-1005849.78  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu                   | JPMDB Commercial Mortgage Securities Trust 2018-C8                 | CUSIP: 46591AAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4277448 | PA      | $4245445.99   | 0.03%             | 2051-06-15      | Fixed         | 3.94%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Lt                   | Benefit Street Partners CLO XXIII Ltd                              | CUSIP: 08186VAN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  70000000 | PA      | $69992923.00  | 0.53%             | 2034-04-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS2                              | CUSIP: 36252TAR6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14962000 | PA      | $14897400.07  | 0.11%             | 2049-05-10      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion CLO XI Ltd                                               | CUSIP: 07132LAU3<br>LEI: 549300O0R7FIDPTPCK50 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49971595.00  | 0.38%             | 2034-04-24      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853AV2<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   9070000 | PA      | $9154052.60   | 0.07%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                             | Royal Bank of Canada                                               | CUSIP: 78016HZU7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  20000000 | PA      | $20121364.00  | 0.15%             | 2027-01-19      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| CBAM CLO Management                              | Cbam 2018-7 Ltd                                                    | CUSIP: 12482JAA8<br>LEI: 2549002XHTMWO4GGPF51 | Long             | ABS-CBDO         | CORP              | KY        |   2821210 | PA      | $2821149.70   | 0.02%             | 2031-07-20      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg                   | DBJPM 2016-C3 Mortgage Trust                                       | CUSIP: 23312VAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6895141 | PA      | $6850269.86   | 0.05%             | 2049-08-10      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK4                                                     | CUSIP: 06541FAZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  35455901 | PA      | $35124108.52  | 0.27%             | 2050-05-15      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES                            | TRANSCANADA PIPELINES LTD                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  11000000 | PA      | $10982594.70  | 0.08%             | 2025-12-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-370362.77   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $400800.95    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC                              | NatWest Markets PLC                                                | CUSIP: 63906YAM0<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |  20000000 | PA      | $20335642.00  | 0.15%             | 2028-03-21      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2025-CES11                                     | CUSIP: 749423AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11900000 | PA      | $11936072.99  | 0.09%             | 2055-11-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL CHICAGO                         | Bank of Montreal/Chicago IL                                        | CUSIP: 06370B3U6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | US        |  17000000 | PA      | $17008128.38  | 0.13%             | 2026-08-20      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                             | GLENCORE FUNDING LLC                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12100000 | PA      | $12083160.43  | 0.09%             | 2025-12-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WELLTOWER INC                                    | WELLTOWER OP LLC                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34976392.50  | 0.26%             | 2025-12-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2025-10                                 | CUSIP: 92541FAA7<br>LEI: 213800OGLOX4BB4D6N90 | Long             | ABS-MBS          | CORP              | US        |  62379582 | PA      | $62515719.47  | 0.47%             | 2070-06-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                             | BlueMountain CLO XXII Ltd                                          | CUSIP: 09629PAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3585998 | PA      | $3585894.85   | 0.03%             | 2031-07-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-C36                     | CUSIP: 95000MBN0<br>LEI: 549300BSYX29G4VVM177 | Long             | ABS-MBS          | CORP              | US        |  12384973 | PA      | $12256315.52  | 0.09%             | 2059-11-15      | Fixed         | 2.81%                 | No            |                  2 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS                         | Air Products and Chemicals Inc                                     | CUSIP: 009158BN5<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |  37760000 | PA      | $38158086.60  | 0.29%             | 2028-06-11      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                   | CarVal CLO II Ltd                                                  | CUSIP: 14686AAY5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  42873360 | PA      | $42852334.94  | 0.32%             | 2032-04-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-1543199.35  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C31        | CUSIP: 61766RAY2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6518960 | PA      | $6458358.47   | 0.05%             | 2049-11-15      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| Cent CLO LP                                      | Columbia Cent CLO 29 Ltd                                           | CUSIP: 197363BJ2<br>LEI: 549300CTF5B701OF6K35 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49979790.00  | 0.38%             | 2034-10-20      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Bank5                                            | BANK5 2023-5YR1                                                    | CUSIP: 06644EAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3193000 | PA      | $3317505.93   | 0.03%             | 2056-04-15      | Variable      | 6.26%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ADJ3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   9170000 | PA      | $9200368.69   | 0.07%             | 2027-09-24      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| CADENCE DESIGN SYS INC                           | Cadence Design Systems Inc                                         | CUSIP: 127387AM0<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $6327110.29   | 0.05%             | 2027-09-10      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                              | Gilead Sciences Inc                                                | CUSIP: 375558BF9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9987036.99   | 0.08%             | 2026-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                         | Penske Truck Leasing Co Lp / PTL Finance Corp                      | CUSIP: 709599BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17603278.78  | 0.13%             | 2026-05-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                           | Williams Cos Inc/The                                               | CUSIP: 969457CH1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40126334.26  | 0.30%             | 2026-03-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| HPS Loan Management Ltd                          | Highbridge Loan Management 5-2015 Ltd                              | CUSIP: 44331DAQ2<br>LEI: 54930067MZ9NV8B3SZ80 | Long             | ABS-CBDO         | CORP              | KY        |   9545430 | PA      | $9542047.52   | 0.07%             | 2030-10-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| MARS INC                                         | Mars Inc                                                           | CUSIP: 571676AX3<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40539332.85  | 0.31%             | 2028-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-997309.84   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg                   | DBJPM 2016-C3 Mortgage Trust                                       | CUSIP: 23312VAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8353000 | PA      | $8273612.25   | 0.06%             | 2049-08-10      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| BELL CDA DISC COML PAPE 0.0 18DEC25              | BELL CDA DISC COML PAPE 0.0 18DEC25                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  16000000 | PA      | $15963950.40  | 0.12%             | 2025-12-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2017-P7                        | CUSIP: 17325HBN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8184617 | PA      | $8106056.55   | 0.06%             | 2050-04-14      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2022-3 Ltd                              | CUSIP: 69690CAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    337446 | PA      | $337276.90    | 0.00%             | 2031-04-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                           | CNH Industrial Capital LLC                                         | CUSIP: 12592BAL8<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14952642.27  | 0.11%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor                   | Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10 | CUSIP: 06054MAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21000000 | PA      | $20903931.30  | 0.16%             | 2049-07-15      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                              | Southern California Edison Co                                      | CUSIP: 842400JB0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12029147.43  | 0.09%             | 2026-03-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                             | Cross 2025-H8 Mortgage Trust                                       | CUSIP: 22757XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11869754 | PA      | $11896482.75  | 0.09%             | 2070-11-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2023-V2 Mortgage Trust                                   | CUSIP: 08163TAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16856995 | PA      | $17424694.76  | 0.13%             | 2055-05-15      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                          | Bristol-Myers Squibb Co                                            | CUSIP: 110122ED6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   9250000 | PA      | $9273974.99   | 0.07%             | 2026-02-20      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $345428.29    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                          | Cooperatieve Rabobank UA/NY                                        | CUSIP: 21688ABB7<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  28500000 | PA      | $28516789.35  | 0.22%             | 2026-01-09      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34        | CUSIP: 61767EAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17500000 | PA      | $17253811.75  | 0.13%             | 2052-11-15      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                    | DTE Energy Co                                                      | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |  14625000 | PA      | $14806835.26  | 0.11%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ING (US) FUNDING LLC                             | ING US FUNDING LLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10004527.00  | 0.08%             | 2026-08-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                          | Australia & New Zealand Banking Group Ltd                          | CUSIP: 05252ADK4<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |  13500000 | PA      | $13514008.95  | 0.10%             | 2026-03-18      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ADK0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5063931.18   | 0.04%             | 2027-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2022-3 LLC                              | CUSIP: 29374FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     48423 | PA      | $48435.52     | 0.00%             | 2029-07-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CQS US CLO Ltd                                   | CQS US CLO 2021-1 Ltd                                              | CUSIP: 12659UAL6<br>LEI: 549300GF7PVRIKZNMY06 | Long             | ABS-CBDO         | CORP              | KY        |  11225000 | PA      | $11222812.25  | 0.08%             | 2035-01-20      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66                                      | PHILLIPS 66                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  29000000 | PA      | $28963831.20  | 0.22%             | 2025-12-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853AX8<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |  24000000 | PA      | $24024000.00  | 0.18%             | 2027-09-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-74902.70    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HOMES Trust                                      | HOMES 2025-NQM5 Trust                                              | CUSIP: 43762CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9904729 | PA      | $9912136.32   | 0.08%             | 2070-09-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2018-GS9                              | CUSIP: 36255NAT2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12005000 | PA      | $11932256.90  | 0.09%             | 2051-03-10      | Variable      | 3.99%                 | No            |                  2 | On Loan: No      |
| MARS INC                                         | Mars Inc                                                           | CUSIP: 571676AW5<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30210349.45  | 0.23%             | 2027-03-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK NY                         | Toronto-Dominion Bank/NY                                           | CUSIP: 89115D5Q5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | US        |  27000000 | PA      | $27030950.10  | 0.20%             | 2026-04-23      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor                   | Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10 | CUSIP: 06054MAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    174029 | PA      | $173518.70    | 0.00%             | 2049-07-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WFR7<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  44000000 | PA      | $44029212.17  | 0.33%             | 2026-05-11      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                           | Pacific Gas and Electric Co                                        | CUSIP: 694308JP3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   9900000 | PA      | $9887136.35   | 0.07%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                | Cisco Systems Inc                                                  | CUSIP: 17275RBQ4<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |  24828000 | PA      | $25124856.07  | 0.19%             | 2027-02-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                               | Siemens Funding BV                                                 | CUSIP: 82622RAA4<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |  29900000 | PA      | $30274431.72  | 0.23%             | 2028-05-26      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF II                               | Pacific Life Global Funding II                                     | CUSIP: 6944PL3G2<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30025871.81  | 0.23%             | 2027-02-04      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-772176.01   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KDH0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11054064.35  | 0.08%             | 2028-02-04      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL                             | IBM International Capital Pte Ltd                                  | CUSIP: 449276AA2<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |  20000000 | PA      | $20028032.00  | 0.15%             | 2026-02-05      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                         | Caterpillar Financial Services Corp                                | CUSIP: 14913R3B1<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15008401.30  | 0.11%             | 2026-01-06      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                          | Schlumberger Holdings Corp                                         | CUSIP: 806851AL5<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |  23750000 | PA      | $24073349.24  | 0.18%             | 2027-05-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                  | DTE Electric Co                                                    | CUSIP: 23338VAU0<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |  42750000 | PA      | $43197637.94  | 0.33%             | 2026-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-ACNT                             | CUSIP: 05609QAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  59174510 | PA      | $59101121.62  | 0.45%             | 2038-11-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                         | RTX Corp                                                           | CUSIP: 75513ECH2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $11927929.91  | 0.09%             | 2027-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                                  | BAE Systems PLC                                                    | CUSIP: 05523RAH0<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |  10290000 | PA      | $10412411.90  | 0.08%             | 2027-03-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                                   | CUSIP: 91282CMF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2030312.50   | 0.02%             | 2028-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                       | CUSIP: 11135FCE9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |  68800000 | PA      | $70106976.44  | 0.53%             | 2028-04-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-314695.67   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WGM7<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  35000000 | PA      | $35041017.70  | 0.27%             | 2027-03-08      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                             | Glencore Funding LLC                                               | CUSIP: 378272BX5<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19997934.00  | 0.15%             | 2026-10-01      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                         | Virginia Electric and Power Co                                     | CUSIP: 927804FV1<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |  19306000 | PA      | $19117073.64  | 0.14%             | 2026-11-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2023-V3 Mortgage Trust                                   | CUSIP: 08163VAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16734480 | PA      | $17543029.83  | 0.13%             | 2056-07-15      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                                | CBRE SERVICES INC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  62900000 | PA      | $62809034.02  | 0.48%             | 2025-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC                               | Smith & Nephew PLC                                                 | CUSIP: 83192PAC2<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |   6133000 | PA      | $6199059.16   | 0.05%             | 2027-03-20      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Bank5                                            | BANK5 2023-5YR1                                                    | CUSIP: 06644EAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1524353 | PA      | $1559405.06   | 0.01%             | 2056-04-15      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                 | NTT Finance Corp                                                   | CUSIP: 62954WAP0<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |  35000000 | PA      | $35268264.50  | 0.27%             | 2027-07-16      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                      | OCP CLO 2015-9 Ltd                                                 | CUSIP: 67091YBE3<br>LEI: 254900XV0U0WEM36A370 | Long             | ABS-CBDO         | CORP              | KY        |  25000000 | PA      | $24983272.50  | 0.19%             | 2037-01-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                          | National Bank of Canada                                            | CUSIP: 63305MUW9<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |  45000000 | PA      | $44969404.50  | 0.34%             | 2027-10-06      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-1932111.69  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding LII Ltd                                       | CUSIP: 55822BAN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  25000000 | PA      | $25006072.50  | 0.19%             | 2035-01-22      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KDG2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11202444.44  | 0.08%             | 2028-02-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ING (US) FUNDING LLC                             | ING US FUNDING LLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  45000000 | PA      | $45023985.00  | 0.34%             | 2026-07-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                   | OneMain Financial Issuance Trust 2023-2                            | CUSIP: 68269HAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  34900000 | PA      | $35637203.17  | 0.27%             | 2036-09-15      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                          | Metropolitan Life Global Funding I                                 | CUSIP: 592179KK0<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14013968.21  | 0.11%             | 2026-04-09      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                          | Corebridge Global Funding                                          | CUSIP: 00138CAW8<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30185498.52  | 0.23%             | 2026-09-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                            | KKR CLO 41 Ltd                                                     | CUSIP: 48255PAA3<br>LEI: 254900UD92WBBLUHGZ35 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $50004945.00  | 0.38%             | 2035-04-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66                                      | PHILLIPS 66                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9994341.00   | 0.08%             | 2025-12-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                       | AbbVie Inc                                                         | CUSIP: 00287YDY2<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |  49500000 | PA      | $50302843.07  | 0.38%             | 2028-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                 | BANK OF MONTREAL                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  17000000 | PA      | $17005825.05  | 0.13%             | 2026-05-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $198586.03    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                             | Glencore Funding LLC                                               | CUSIP: 378272BY3<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12208196.40  | 0.09%             | 2028-04-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C29        | CUSIP: 61766EBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11665000 | PA      | $11614054.28  | 0.09%             | 2049-05-15      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                   | CSAIL 2016-C6 Commercial Mortgage Trust                            | CUSIP: 12636MAE8<br>LEI: 549300C2HE5FJAWYZL57 | Long             | ABS-MBS          | CORP              | US        |  12765110 | PA      | $12717276.10  | 0.10%             | 2049-01-15      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                     | Enbridge Inc                                                       | CUSIP: 29250NCH6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  15000000 | PA      | $15169137.00  | 0.11%             | 2028-06-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| HPS Loan Management Ltd                          | HPS Loan Management 10-2016 Ltd                                    | CUSIP: 40436TBN5<br>LEI: 2549009NI8GVCM3ROT27 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49999000.00  | 0.38%             | 2034-04-20      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                         | National Australia Bank Ltd/New York                               | CUSIP: 63253QAA2<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |  32000000 | PA      | $32028278.40  | 0.24%             | 2026-01-12      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                            | ARI Fleet Lease Trust 2024-A                                       | CUSIP: 00218KAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3190176 | PA      | $3208976.81   | 0.02%             | 2032-11-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BOARDWALK PIPELINES LP                           | Boardwalk Pipelines LP                                             | CUSIP: 096630AE8<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |  62174000 | PA      | $62425412.66  | 0.47%             | 2026-06-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP NEW YORK                         | Nordea Bank Abp/New York NY                                        | CUSIP: 65558WMM7<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30012180.00  | 0.23%             | 2026-07-23      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2024-1 Ltd                              | CUSIP: 69703NAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6242468 | PA      | $6242458.03   | 0.05%             | 2032-10-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $9567.24      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                | EOG Resources Inc                                                  | CUSIP: 26875PAX9<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20226067.24  | 0.15%             | 2028-07-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                  | Chevron USA Inc                                                    | CUSIP: 166756BB1<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |  33900000 | PA      | $34427492.85  | 0.26%             | 2028-02-26      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                           | Bunge Ltd Finance Corp                                             | CUSIP: 120568BD1<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6014719.40   | 0.05%             | 2028-01-07      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                         | Enterprise Products Operating LLC                                  | CUSIP: 29379VCJ0<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |  25500000 | PA      | $25708773.20  | 0.19%             | 2028-06-20      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2019-GC44 Mortgage Trust                                      | CUSIP: 12655TBH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11162411 | PA      | $10724112.88  | 0.08%             | 2057-08-15      | Fixed         | 2.83%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                          | MPLX LP                                                            | CUSIP: 55336VBR0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |  19379000 | PA      | $19255601.45  | 0.15%             | 2026-03-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ROCHE HOLDINGS INC                               | Roche Holdings Inc                                                 | CUSIP: 771196CE0<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | DBT              | CORP              | US        |  60000000 | PA      | $60729309.91  | 0.46%             | 2026-11-13      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                      | Nutrien Ltd                                                        | CUSIP: 67077MBC1<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |  20000000 | PA      | $20330838.00  | 0.15%             | 2027-06-21      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                              | Southern California Edison Co                                      | CUSIP: 842400JF1<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $18028208.20  | 0.14%             | 2026-09-06      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                               | BMW US Capital LLC                                                 | CUSIP: 05565ECL7<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20009338.00  | 0.15%             | 2026-04-02      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $2725.87      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-62928.79    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                              | Bank of Nova Scotia/The                                            | CUSIP: 06418GAG2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  30000000 | PA      | $30136992.00  | 0.23%             | 2027-06-04      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XFL5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20013836.62  | 0.15%             | 2028-10-27      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN NY                         | Svenska Handelsbanken/New York NY                                  | CUSIP: 86959TRC2<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24997892.50  | 0.19%             | 2026-09-24      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                             | Keurig Dr Pepper Inc                                               | CUSIP: 49271VAZ3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20060626.48  | 0.15%             | 2028-05-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                         | ALEXANDRIA REAL ESTATE EQUITIES INC                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24879360.00  | 0.19%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                           | Rockford Tower CLO 2017-3 Ltd                                      | CUSIP: 77341DAA5<br>LEI: 549300V5ZF7112UGSH89 | Long             | ABS-CBDO         | CORP              | KY        |   1365448 | PA      | $1366413.89   | 0.01%             | 2030-10-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | CGMS Commercial Mortgage Trust 2017-B1                             | CUSIP: 17326CAY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1436904 | PA      | $1413304.13   | 0.01%             | 2050-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                          | Schlumberger Holdings Corp                                         | CUSIP: 806851AK7<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |  22500000 | PA      | $22460372.13  | 0.17%             | 2028-05-17      | Fixed         | 3.90%                 | Yes           |                  2 | On Loan: No      |
| SREIT Trust                                      | SREIT Trust 2021-MFP2                                              | CUSIP: 85236WCE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  25130000 | PA      | $25106621.56  | 0.19%             | 2036-11-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trus                   | CFCRE Commercial Mortgage Trust 2016-C4                            | CUSIP: 12531YAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4038772 | PA      | $4029617.72   | 0.03%             | 2058-05-10      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-1213570.81  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                               | Siemens Funding BV                                                 | CUSIP: 82622RAB2<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |  18000000 | PA      | $18005164.20  | 0.14%             | 2028-05-26      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                          | Metropolitan Life Global Funding I                                 | CUSIP: 592179KM6<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |  19000000 | PA      | $19071650.89  | 0.14%             | 2027-06-11      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2019-GC38                             | CUSIP: 36252SAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1224302 | PA      | $1219862.66   | 0.01%             | 2052-02-10      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                   | Lowe's Cos Inc                                                     | CUSIP: 548661EP8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |  13500000 | PA      | $13522260.70  | 0.10%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                             | ROYAL BANK OF CANADA                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  58000000 | PA      | $57995075.80  | 0.44%             | 2026-10-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                  | Venture 34 CLO Ltd                                                 | CUSIP: 92332CAE9<br>LEI: 549300MYRV6PEDBLPL32 | Long             | ABS-CBDO         | CORP              | KY        |   9270777 | PA      | $9276230.14   | 0.07%             | 2031-10-15      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS NEW YORK                             | BNP Paribas SA/New York NY                                         | CUSIP: 05593DLB7<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50006485.00  | 0.38%             | 2026-11-05      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                             | Public Storage Operating Co                                        | CUSIP: 74464AAA9<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |  19773000 | PA      | $19821089.54  | 0.15%             | 2027-04-16      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                       | Intel Corp                                                         | CUSIP: 458140AU4<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |  10181000 | PA      | $10108882.79  | 0.08%             | 2026-05-19      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                               | BMO 2024-5C5 Mortgage Trust                                        | CUSIP: 05593RAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  31000000 | PA      | $32485947.80  | 0.25%             | 2057-02-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Sculptor CLO Ltd                                 | Sculptor CLO XXVIII Ltd                                            | CUSIP: 81124LAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  40000000 | PA      | $40000472.00  | 0.30%             | 2035-01-20      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                 | Bank of Montreal                                                   | CUSIP: 06376CHJ8<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  50000000 | PA      | $50010830.00  | 0.38%             | 2026-07-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                       | JP MORGAN SECURITIES LLC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  45000000 | PA      | $45015020.10  | 0.34%             | 2026-04-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                 | Ryder System Inc                                                   | CUSIP: 78355HLA5<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |   9483000 | PA      | $9618210.04   | 0.07%             | 2027-03-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                           | Rockford Tower CLO 2020-1 Ltd                                      | CUSIP: 77341EBA2<br>LEI: 5493009YDNBJVFWX7747 | Long             | ABS-CBDO         | CORP              | KY        |  60500000 | PA      | $60510139.80  | 0.46%             | 2036-01-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| UNILEVER CAPITAL CORP                            | Unilever Capital Corp                                              | CUSIP: 904764BU0<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |  13650000 | PA      | $13746681.59  | 0.10%             | 2027-08-12      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC Trust 2016-NXSR                                               | CUSIP: 12594PAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2132301 | PA      | $2126090.91   | 0.02%             | 2049-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Commercial Mort                   | LCCM 2017-LC26                                                     | CUSIP: 50190DAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2960000 | PA      | $2914842.54   | 0.02%             | 2050-07-12      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ADP9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |  14400000 | PA      | $14518575.14  | 0.11%             | 2027-03-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                            | PACCAR Financial Corp                                              | CUSIP: 69371RT63<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50837915.32  | 0.38%             | 2028-03-03      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                                       | CABOT CORP                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5991306.00   | 0.05%             | 2025-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu                   | JPMDB Commercial Mortgage Securities Trust 2016-C4                 | CUSIP: 46646RAH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2997029 | PA      | $2968837.32   | 0.02%             | 2049-12-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |  20565000 | PA      | $20798272.67  | 0.16%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | BOFA SECURITIES INC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14494346.45  | 0.11%             | 2026-10-28      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                         | Agilent Technologies Inc                                           | CUSIP: 00846UAQ4<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |  20800000 | PA      | $20862204.54  | 0.16%             | 2027-09-09      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TYCO ELECTRONICS GROUP S                         | Tyco Electronics Group SA                                          | CUSIP: 902133AZ0<br>LEI: C33G1C5SYE2YM95EE712 | Long             | DBT              | CORP              | LU        |  23250000 | PA      | $23289664.50  | 0.18%             | 2026-02-13      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2018-BNK10                                                    | CUSIP: 065404BB0<br>LEI: 549300GL0Y86051URC66 | Long             | ABS-MBS          | CORP              | US        |  28130000 | PA      | $27842682.99  | 0.21%             | 2061-02-15      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                              | American Express Co                                                | CUSIP: 025816DG1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |  41656000 | PA      | $42013760.97  | 0.32%             | 2027-07-28      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC                              | NatWest Markets PLC                                                | CUSIP: 63906YAT5<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |  43300000 | PA      | $43339498.26  | 0.33%             | 2028-11-06      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                      | Nutrien Ltd                                                        | CUSIP: 67077MBE7<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |  50000000 | PA      | $50255400.00  | 0.38%             | 2027-03-12      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                         | Caterpillar Financial Services Corp                                | CUSIP: 14913UAA8<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |  52000000 | PA      | $52070800.29  | 0.39%             | 2026-05-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN AB                         | SVENSKA HANDELSBANKEN AB                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | SE        |  45000000 | PA      | $44988336.00  | 0.34%             | 2026-10-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I 2017-HR2                                  | CUSIP: 61691NAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5395000 | PA      | $5330304.24   | 0.04%             | 2050-12-15      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF II                               | Pacific Life Global Funding II                                     | CUSIP: 6944PL3B3<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |  23000000 | PA      | $23013791.48  | 0.17%             | 2026-03-27      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WFW6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5008947.79   | 0.04%             | 2028-03-03      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2025-CES3                                      | CUSIP: 749420AA3<br>LEI: 254900HS4CN69R7ARQ97 | Long             | ABS-MBS          | CORP              | US        |   8938544 | PA      | $9027201.49   | 0.07%             | 2055-03-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                          | Bristol-Myers Squibb Co                                            | CUSIP: 110122EM6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   6170000 | PA      | $6173566.66   | 0.05%             | 2026-02-20      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2022-LP2                              | CUSIP: 05610HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3307719 | PA      | $3301530.77   | 0.02%             | 2039-02-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JAV9<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $13016339.70  | 0.10%             | 2026-07-31      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP NEW YORK                         | Nordea Bank Abp/New York NY                                        | CUSIP: 65558WQJ0<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40014360.00  | 0.30%             | 2027-02-19      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| Strata CLO, Ltd                                  | Strata CLO II Ltd                                                  | CUSIP: 86271PAU9<br>LEI: 5299000H3NG9PMZD9W94 | Long             | ABS-CBDO         | CORP              | KY        |  20000000 | PA      | $20002608.00  | 0.15%             | 2033-10-20      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2018-C45                     | CUSIP: 95001NAX6<br>LEI: 5493006021R83VCLAO08 | Long             | ABS-MBS          | CORP              | US        |   4842357 | PA      | $4826373.63   | 0.04%             | 2051-06-15      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                         | Enterprise Products Operating LLC                                  | CUSIP: 29379VCE1<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20141731.72  | 0.15%             | 2027-01-11      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                         | Angel Oak Mortgage Trust 2025-12                                   | CUSIP: 03466KAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  20000000 | PA      | $20030692.00  | 0.15%             | 2070-12-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                               | Realty Income Corp                                                 | CUSIP: 756109CW2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |  17300000 | PA      | $17246977.35  | 0.13%             | 2029-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2017-P8                        | CUSIP: 17326DAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21272000 | PA      | $20933396.56  | 0.16%             | 2050-09-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion CLO 18 Ltd                                               | CUSIP: 07134QAY2<br>LEI: 549300WYAEH0STKIKE49 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49981045.00  | 0.38%             | 2036-10-15      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                           | Philip Morris International Inc                                    | CUSIP: 718172DF3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10096993.66  | 0.08%             | 2027-02-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                    | Amphenol Corp                                                      | CUSIP: 032095AT8<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |  36000000 | PA      | $36374358.41  | 0.28%             | 2028-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                 | Duke Energy Corp                                                   | CUSIP: 26441CCB9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   9333000 | PA      | $9412178.18   | 0.07%             | 2027-01-05      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| JOHNSON CONTROLS INTL PL                         | JOHNSON CONTROLS INTERNATIONAL PLC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  52000000 | PA      | $51874898.40  | 0.39%             | 2025-12-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                 | Georgia Power Co                                                   | CUSIP: 373334KV2<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |  10680000 | PA      | $10819341.79  | 0.08%             | 2027-02-23      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                   | CSAIL 2017-C8 Commercial Mortgage Trust                            | CUSIP: 12595BAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11367446 | PA      | $11174706.23  | 0.08%             | 2050-06-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                           | CNH Industrial Capital LLC                                         | CUSIP: 12592BAU8<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  15750000 | PA      | $15960151.07  | 0.12%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                               | Diageo Capital PLC                                                 | CUSIP: 25243YBG3<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |  15619000 | PA      | $15992181.64  | 0.12%             | 2027-10-24      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAP INC                          | GlaxoSmithKline Capital Inc                                        | CUSIP: 377372AN7<br>LEI: 5493007Q8VD7Q3ZYZS59 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $11998179.05  | 0.09%             | 2028-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AGREE LP 0 12/25                                 | AGREE LP 0 12/25                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8993546.10   | 0.07%             | 2025-12-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30        | CUSIP: 61766NBB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21634902 | PA      | $21322310.12  | 0.16%             | 2049-09-15      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                               | Realty Income Corp                                                 | CUSIP: 756109AR5<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12506092.40  | 0.09%             | 2026-10-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                           | RR 26 Ltd                                                          | CUSIP: 74989MAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  24000000 | PA      | $23988000.00  | 0.18%             | 2038-04-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| TARGET CORP                                      | Target Corp                                                        | CUSIP: 87612EBU9<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14155237.46  | 0.11%             | 2028-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FED CAISSES DESJARDINS                           | Federation des Caisses Desjardins du Quebec                        | CUSIP: 31429KAN3<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |  83000000 | PA      | $83077173.40  | 0.63%             | 2027-01-27      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20214593.29  | 0.15%             | 2027-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                          | John Deere Capital Corp                                            | CUSIP: 24422EXL8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  21000000 | PA      | $21006457.81  | 0.16%             | 2026-03-06      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Santander Commercial Mortgage                    | Santander Commercial Mortgage Securities LLC                       | CUSIP: 78398LAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  25000000 | PA      | $24999975.00  | 0.19%             | 2028-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP NEW YORK                         | Nordea Bank Abp/New York NY                                        | CUSIP: 65558WLP1<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30015249.00  | 0.23%             | 2026-06-29      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu                   | JPMDB Commercial Mortgage Securities Trust 2017-C7                 | CUSIP: 46648KAT3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  20185530 | PA      | $19822858.49  | 0.15%             | 2050-10-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                         | Florida Power & Light Co                                           | CUSIP: 341081GR2<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |  16500000 | PA      | $16519905.76  | 0.13%             | 2026-05-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853AP5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14012355.00  | 0.11%             | 2026-01-16      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                           | CNH Industrial Capital LLC                                         | CUSIP: 12592BAT1<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  10500000 | PA      | $10578168.71  | 0.08%             | 2027-10-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XEF9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8532577.19   | 0.06%             | 2026-04-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XDD5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9965656.30   | 0.08%             | 2026-01-08      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                | State Street Corp                                                  | CUSIP: 857477CL5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  22500000 | PA      | $22803073.38  | 0.17%             | 2027-03-18      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                       | Zoetis Inc                                                         | CUSIP: 98978VAW3<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |  34000000 | PA      | $34207787.90  | 0.26%             | 2028-08-17      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Benchmark 2024-V8 Mortgage Tru                   | Benchmark 2024-V8 Mortgage Trust                                   | CUSIP: 08190AAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11700000 | PA      | $12397805.55  | 0.09%             | 2057-07-15      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                         | ALEXANDRIA REAL ESTATE EQUITIES INC                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  28600000 | PA      | $28553476.38  | 0.22%             | 2025-12-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUNCOR ENERGY INC DISC 0.00 11DEC25              | SUNCOR ENERGY INC DISC 0.00 11DEC25                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  90800000 | PA      | $90665643.24  | 0.69%             | 2025-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                                   | Romark CLO II Ltd                                                  | CUSIP: 77587EAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  12853219 | PA      | $12857638.31  | 0.10%             | 2031-07-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Marathon CLO LTD                                 | Marathon CLO 2021-16 Ltd                                           | CUSIP: 56580KAS4<br>LEI: 549300VP041FQCCCOP44 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49971980.00  | 0.38%             | 2034-04-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                           | Mondelez International Inc                                         | CUSIP: 609207BF1<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |  47700000 | PA      | $47970821.27  | 0.36%             | 2028-05-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                              | Sound Point Clo XXI Ltd                                            | CUSIP: 83613HAL1<br>LEI: 5493001O6AOY43J70E72 | Long             | ABS-CBDO         | CORP              | KY        |   9477694 | PA      | $9484867.00   | 0.07%             | 2031-10-26      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| GLENCORE FDG L 12/19/2025                        | GLENCORE FDG L 12/19/2025                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  93000000 | PA      | $92773452.00  | 0.70%             | 2025-12-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAPITAL                          | GlaxoSmithKline Capital PLC                                        | CUSIP: 377373AM7<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |  35000000 | PA      | $35203175.00  | 0.27%             | 2027-03-12      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2016-COR1 Mortgage Trust                                      | CUSIP: 12594MBC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11000000 | PA      | $10859874.30  | 0.08%             | 2049-10-10      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2016-BNK2                           | CUSIP: 61690YBT8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13246026 | PA      | $13077217.14  | 0.10%             | 2049-11-15      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE US INC                                  | ENBRIDGE US INC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23450000 | PA      | $23442076.25  | 0.18%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F                   | Ford Credit Auto Owner Trust 2021-REV2                             | CUSIP: 345285AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  35000000 | PA      | $34180177.50  | 0.26%             | 2034-05-15      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| NATIONAL SECS CLEARING                           | National Securities Clearing Corp                                  | CUSIP: 637639AP0<br>LEI: 549300RYC9NELN2ICA34 | Long             | DBT              | CORP              | US        |   9450000 | PA      | $9482291.30   | 0.07%             | 2027-05-20      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                           | Canadian Imperial Bank of Commerce                                 | CUSIP: 13606DNV0<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  58000000 | PA      | $58086064.94  | 0.44%             | 2026-10-19      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| SWEDBANK AB                                      | SWEDBANK AB                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | SE        |  33500000 | PA      | $33509912.65  | 0.25%             | 2026-09-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                  | Venture 37 CLO Ltd                                                 | CUSIP: 92333BBA7<br>LEI: 549300IW5Q3C6JHMIU22 | Long             | ABS-CBDO         | CORP              | KY        |  24078913 | PA      | $24102733.98  | 0.18%             | 2032-07-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2019-BNK17                                                    | CUSIP: 065403BB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3665995 | PA      | $3594847.28   | 0.03%             | 2052-04-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                               | BMO 2023-5C2 Mortgage Trust                                        | CUSIP: 05610QAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21175000 | PA      | $22682560.48  | 0.17%             | 2056-11-15      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2013-3 Ltd                                                | CUSIP: 92916XAJ6<br>LEI: 5493003QPCHR7P2XIW55 | Long             | ABS-CBDO         | CORP              | KY        |   5168622 | PA      | $5170557.67   | 0.04%             | 2031-10-18      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL CHICAGO                         | Bank of Montreal/Chicago IL                                        | CUSIP: 06370B3X0<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15016323.00  | 0.11%             | 2026-08-28      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                          | Honeywell International Inc                                        | CUSIP: 438516CX2<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |  34000000 | PA      | $34433135.86  | 0.26%             | 2027-07-30      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                     | ARES XLIV CLO Ltd                                                  | CUSIP: 04016NBH5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49999065.00  | 0.38%             | 2034-04-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| VW CREDIT INC                                    | VW CREDIT INC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9921915.00   | 0.08%             | 2026-02-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-81001.01    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-C2                        | CUSIP: 17291CBQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12515676 | PA      | $12389930.92  | 0.09%             | 2049-08-10      | Fixed         | 2.58%                 | Yes           |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS Mortgage Trust 2023-5C23                                     | CUSIP: 05493QAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  34875000 | PA      | $37057648.39  | 0.28%             | 2056-12-15      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                            | Palmer Square CLO 2015-1 Ltd                                       | CUSIP: 69689ABU3<br>LEI: 5493006ZPBFJJGSXB826 | Long             | ABS-CBDO         | CORP              | KY        |  25000000 | PA      | $24999355.00  | 0.19%             | 2034-05-21      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                       | CUSIP: 902613BB3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  10000000 | PA      | $10017363.00  | 0.08%             | 2026-04-17      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                          | Cooperatieve Rabobank UA/NY                                        | CUSIP: 21688ABG6<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  12920000 | PA      | $12948133.30  | 0.10%             | 2026-08-28      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                         | RTX Corp                                                           | CUSIP: 75513ECQ2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8010294.00   | 0.06%             | 2026-02-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XFF8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17500081.76  | 0.13%             | 2028-04-04      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                       | Fiserv Inc                                                         | CUSIP: 337738BJ6<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |  17187000 | PA      | $17348778.39  | 0.13%             | 2027-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                         | Duke Energy Progress LLC                                           | CUSIP: 26442UAT1<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30206252.01  | 0.23%             | 2027-03-06      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-P6                        | CUSIP: 17291EAV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10464343 | PA      | $10397342.64  | 0.08%             | 2049-12-10      | Fixed         | 3.46%                 | Yes           |                  2 | On Loan: No      |
| Rad CLO Ltd                                      | Rad CLO 7 Ltd                                                      | CUSIP: 74936GAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $50015430.00  | 0.38%             | 2036-04-17      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2012-CCRE4 Mortgage Trust                                     | CUSIP: 12624QAR4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     89694 | PA      | $87558.70     | 0.00%             | 2045-10-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN AB                         | Svenska Handelsbanken AB                                           | CUSIP: 86959LAS2<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |  14000000 | PA      | $14172155.20  | 0.11%             | 2028-05-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O                   | Ford Credit Floorplan Master Owner Trust A                         | CUSIP: 34528QHV9<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |  17100000 | PA      | $17159853.42  | 0.13%             | 2028-05-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                          | MPLX LP                                                            | CUSIP: 55336VAK6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   7530000 | PA      | $7523235.11   | 0.06%             | 2027-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                            | Toronto-Dominion Bank/The                                          | CUSIP: 89115DF84<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  25000000 | PA      | $25011807.50  | 0.19%             | 2026-07-06      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| AGL CLO 13 Ltd                                   | AGL CLO 13 Ltd                                                     | CUSIP: 00120JAL7<br>LEI: 254900DIJ0G5TXNJMM06 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $50020060.00  | 0.38%             | 2034-10-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                      | Netflix Inc                                                        | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |  50150000 | PA      | $51252060.04  | 0.39%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                  | Venture 28A Clo Ltd                                                | CUSIP: 92331DBJ6<br>LEI: 549300NQLVRN86RJ6081 | Long             | ABS-CBDO         | CORP              | KY        |  30000000 | PA      | $29983833.00  | 0.23%             | 2034-10-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK9                                                     | CUSIP: 06540RAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  19848284 | PA      | $19583440.67  | 0.15%             | 2054-11-15      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                           | Canyon CLO 2020-2 Ltd                                              | CUSIP: 13876NAW3<br>LEI: 2549001ZLWJBJYTM8I33 | Long             | ABS-CBDO         | CORP              | KY        |  20000000 | PA      | $19986296.00  | 0.15%             | 2034-10-15      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                              | LCM 31 Ltd                                                         | CUSIP: 50201QAL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10001918.00  | 0.08%             | 2034-07-20      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                   | Avis Budget Rental Car Funding AESOP LLC                           | CUSIP: 05377RHL1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   6650000 | PA      | $6817795.46   | 0.05%             | 2028-08-21      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Shackleton CLO LTD                               | Shackleton 2014-V-R CLO Ltd                                        | CUSIP: 81881JAC6<br>LEI: 549300OM5GJJFIKCOZ48 | Long             | ABS-CBDO         | CORP              | KY        |    517198 | PA      | $517417.58    | 0.00%             | 2031-05-07      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE AMERICAS INC                         | NTT FINANCE AMERICAS INC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  63000000 | PA      | $62907459.30  | 0.48%             | 2025-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2024-5C1                     | CUSIP: 95003VAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  58870000 | PA      | $61819875.62  | 0.47%             | 2057-07-15      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                             | WEC Energy Group Inc                                               | CUSIP: 92939UAK2<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |  23000000 | PA      | $23005724.66  | 0.17%             | 2026-01-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                             | Cross 2025-H9 Mortgage Trust                                       | CUSIP: 227923AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  24100000 | PA      | $24150395.51  | 0.18%             | 2070-11-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| General Motors                                   | GMF Floorplan Owner Revolving Trust                                | CUSIP: 361886DK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  25000000 | PA      | $25169102.50  | 0.19%             | 2028-11-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                   | Apidos Clo Xxv                                                     | CUSIP: 03762YBD8<br>LEI: 254900C9NN5XS59HZV73 | Long             | ABS-CBDO         | CORP              | KY        |  20000000 | PA      | $19990974.00  | 0.15%             | 2037-01-20      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XFE1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17818096.90  | 0.13%             | 2028-04-04      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                          | Jefferies Financial Group Inc                                      | CUSIP: 47233WKM0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29988844.98  | 0.23%             | 2026-08-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2021-ARIA                                                 | CUSIP: 05608RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  31312000 | PA      | $31292592.82  | 0.24%             | 2036-10-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                           | Philip Morris International Inc                                    | CUSIP: 718172DX4<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34918358.31  | 0.26%             | 2028-10-27      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                             | Royal Bank of Canada                                               | CUSIP: 78016EZR1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   7027000 | PA      | $7035960.13   | 0.05%             | 2026-04-27      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| ACCENTURE CAPITAL INC                            | Accenture Capital Inc                                              | CUSIP: 00440KAA1<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |  22940000 | PA      | $23009857.59  | 0.17%             | 2027-10-04      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                | Wellfleet CLO 2021-3 Ltd                                           | CUSIP: 94951JAJ9<br>LEI: 254900E0WT1R93N8OQ24 | Long             | ABS-CBDO         | CORP              | KY        |  40000000 | PA      | $39993676.00  | 0.30%             | 2035-01-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                         | Intercontinental Exchange Inc                                      | CUSIP: 45865VAA8<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |  12900000 | PA      | $12916637.01  | 0.10%             | 2028-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN NY                         | Svenska Handelsbanken/New York NY                                  | CUSIP: 86959TQZ2<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24998850.00  | 0.19%             | 2026-09-16      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE 0.00 15DEC25              | ALEXANDRIA REAL ESTATE 0.00 15DEC25                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  71400000 | PA      | $71259063.54  | 0.54%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                     | CD 2016-CD2 Mortgage Trust                                         | CUSIP: 12515ABD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2327985 | PA      | $2310815.20   | 0.02%             | 2049-11-10      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2024-1 LLC                              | CUSIP: 29375PAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3368673 | PA      | $3393947.02   | 0.03%             | 2030-03-20      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                                   | Phillips 66 Co                                                     | CUSIP: 718547AF9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5982321.88   | 0.05%             | 2026-10-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                | Cisco Systems Inc                                                  | CUSIP: 17275RBW1<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |  27500000 | PA      | $27940451.55  | 0.21%             | 2028-02-24      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                   | Home Depot Inc/The                                                 | CUSIP: 437076DH2<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $11994006.02  | 0.09%             | 2028-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VW CREDIT INC                                    | VW CREDIT INC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3547278.00   | 0.03%             | 2026-04-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                          | Cooperatieve Rabobank UA/NY                                        | CUSIP: 21688ABE1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  15000000 | PA      | $15068959.50  | 0.11%             | 2027-03-05      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| GLENCORE FDG L 12/15/2025                        | GLENCORE FDG L 12/15/2025                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2495073.25   | 0.02%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                    | UBS Commercial Mortgage Trust 2017-C4                              | CUSIP: 90276RBD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11843356 | PA      | $11685106.64  | 0.09%             | 2050-10-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                | Jamestown CLO IX Ltd                                               | CUSIP: 47048JBF9<br>LEI: 254900NFTK4YH0WYT485 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49994995.00  | 0.38%             | 2034-07-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note                   | Toyota Auto Loan Extended Note Trust 2021-1                        | CUSIP: 89237MAA7<br>LEI: 54930055QDKD6LCRW256 | Long             | ABS-O            | CORP              | US        |  56600000 | PA      | $56185948.36  | 0.43%             | 2034-02-27      | Fixed         | 1.07%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                              | SOUND POINT CLO XXII LTD                                           | CUSIP: 83611KAW2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  22103403 | PA      | $22095812.44  | 0.17%             | 2032-01-20      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                 | Trinitas CLO XIV Ltd                                               | CUSIP: 89641QAY6<br>LEI: 549300095MXHZZMH2053 | Long             | ABS-CBDO         | CORP              | KY        |  14550000 | PA      | $14547535.23  | 0.11%             | 2034-01-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| BAYER CORP 0 8/26                                | BAYER CORP 0 8/26                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29172222.00  | 0.22%             | 2026-08-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC                          | O'Reilly Automotive Inc                                            | CUSIP: 67103HAM9<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10150081.73  | 0.08%             | 2026-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                | Sysco Corp                                                         | CUSIP: 871829BC0<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $13928084.87  | 0.11%             | 2026-07-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                   | Avis Budget Rental Car Funding AESOP LLC                           | CUSIP: 05377REZ3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |  35000000 | PA      | $34852268.50  | 0.26%             | 2028-08-21      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                         | MICROCHIP TECHNOLOGY INC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  48000000 | PA      | $47959958.40  | 0.36%             | 2025-12-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2025-NQM21 Trust                                               | CUSIP: 67448BAA2<br>LEI: 254900E5OS34AOMYSY84 | Long             | ABS-MBS          | CORP              | US        |  25000000 | PA      | $25037980.00  | 0.19%             | 2065-10-25      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TND3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  13750000 | PA      | $13752184.33  | 0.10%             | 2026-02-24      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JAY3<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14958250.50  | 0.11%             | 2027-11-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| SEMPRA DISC COML P 0.0 09JAN26 144A              | SEMPRA DISC COML P 0.0 09JAN26 144A                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  56500000 | PA      | $56229873.50  | 0.43%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                         | Enterprise Products Operating LLC                                  | CUSIP: 29379VCC5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |  14750000 | PA      | $14760767.96  | 0.11%             | 2026-01-10      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| GENERAL DYNAMICS CORP                            | General Dynamics Corp                                              | CUSIP: 369550AZ1<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |   5120000 | PA      | $5013573.97   | 0.04%             | 2027-11-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                    | Amphenol Corp                                                      | CUSIP: 032095AN1<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |  29290000 | PA      | $29715857.45  | 0.22%             | 2027-04-05      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                         | Volkswagen Group of America Finance LLC                            | CUSIP: 928668CA8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50810915.00  | 0.38%             | 2026-11-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-P4                        | CUSIP: 29429EAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $9922225.00   | 0.08%             | 2049-07-10      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAP HLDG 0.0 05DEC25              | NEXTERA ENERGY CAP HLDG 0.0 05DEC25                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19984172.00  | 0.15%             | 2025-12-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                         | New York Life Global Funding                                       | CUSIP: 64953BBL1<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |  55000000 | PA      | $55208629.82  | 0.42%             | 2027-04-02      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                         | RTX Corp                                                           | CUSIP: 75513ECT6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40586314.35  | 0.31%             | 2026-11-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                     | AGL CLO 22 Ltd                                                     | CUSIP: 00118XAS5<br>LEI: 54930001FXLJVDHJU506 | Long             | ABS-CBDO         | CORP              | JE        |  50000000 | PA      | $50020830.00  | 0.38%             | 2037-01-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                             | Royal Bank of Canada                                               | CUSIP: 78016EZP5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10004850.00  | 0.08%             | 2026-01-20      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                           | Canyon Capital CLO 2017-1 Ltd                                      | CUSIP: 13876GAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6164789 | PA      | $6164836.45   | 0.05%             | 2030-07-15      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                         | Marsh & McLennan Cos Inc                                           | CUSIP: 571748BZ4<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   9110000 | PA      | $9153320.71   | 0.07%             | 2027-11-08      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KCR9<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30022053.45  | 0.23%             | 2026-01-29      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680CB7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |  33740000 | PA      | $33826223.56  | 0.26%             | 2027-09-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                           | Mondelez International Inc                                         | CUSIP: 609207BA2<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |  13909000 | PA      | $13663230.64  | 0.10%             | 2027-03-17      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                 | Trinitas CLO XVI Ltd                                               | CUSIP: 89642DAQ1<br>LEI: 5493004FCKEPFTK2QI86 | Long             | ABS-CBDO         | CORP              | KY        |  33500000 | PA      | $33496650.00  | 0.25%             | 2034-07-20      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE                           | Alliant Energy Finance LLC                                         | CUSIP: 01882YAF3<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |  10710000 | PA      | $10848415.74  | 0.08%             | 2027-06-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| SKANDINAVISKA ENSKILDA                           | SKANDINAVISKA ENSKILDA BANKEN AB                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | SE        |  30000000 | PA      | $30005631.00  | 0.23%             | 2026-09-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                             | Westpac Banking Corp                                               | CUSIP: 9612E0DL8<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |  25000000 | PA      | $25005577.50  | 0.19%             | 2028-03-06      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion Clo XXI Ltd                                              | CUSIP: 07134WAN3<br>LEI: 549300EOF4JL75TYXX49 | Long             | ABS-CBDO         | CORP              | KY        |  38000000 | PA      | $37981026.60  | 0.29%             | 2034-07-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WGA3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  35000000 | PA      | $35056228.09  | 0.27%             | 2026-12-11      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                            | Toronto-Dominion Bank/The                                          | CUSIP: 89115KAE0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  17500000 | PA      | $17534359.50  | 0.13%             | 2028-10-13      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP                                 | Ventas Realty LP                                                   | CUSIP: 92277GAM9<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |  19755000 | PA      | $19705711.25  | 0.15%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                    | Owens Corning                                                      | CUSIP: 690742AN1<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |   7976000 | PA      | $8138695.39   | 0.06%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                          | John Deere Capital Corp                                            | CUSIP: 24422EWP0<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  29000000 | PA      | $29016880.11  | 0.22%             | 2026-01-09      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Whitebox CLO Ltd                                 | Whitebox CLO III Ltd                                               | CUSIP: 96467HAL0<br>LEI: 549300JXCQSPB1A61C68 | Long             | ABS-CBDO         | CORP              | KY        |  16100000 | PA      | $16113667.29  | 0.12%             | 2035-10-15      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| VW CREDIT INC                                    | VW CREDIT INC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7412067.00   | 0.06%             | 2026-03-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                         | New York Life Global Funding                                       | CUSIP: 64953BBY3<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40051323.22  | 0.30%             | 2027-06-11      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                               | Union Pacific Corp                                                 | CUSIP: 907818GE2<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $16011135.76  | 0.12%             | 2026-02-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                         | International Business Machines Corp                               | CUSIP: 459200JZ5<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |  26510000 | PA      | $26422274.12  | 0.20%             | 2026-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                                   | CUSIP: 91282CLX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  31000000 | PA      | $31357226.56  | 0.24%             | 2027-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                         | Volkswagen Group of America Finance LLC                            | CUSIP: 928668CP5<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  16700000 | PA      | $16961692.34  | 0.13%             | 2028-03-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853BG4<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |  11200000 | PA      | $11240886.72  | 0.09%             | 2027-08-12      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                            | Toronto-Dominion Bank/The                                          | CUSIP: 89115KAF7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  17500000 | PA      | $17489633.00  | 0.13%             | 2028-10-13      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK5                                                     | CUSIP: 06541WAW2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  20033259 | PA      | $19777810.56  | 0.15%             | 2060-06-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2018-L1                             | CUSIP: 61691QAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2121355 | PA      | $2123399.24   | 0.02%             | 2051-10-15      | Variable      | 4.24%                 | No            |                  2 | On Loan: No      |
| PPM CLO LTD                                      | PPM CLO 2018-1 Ltd                                                 | CUSIP: 69355DAA5<br>LEI: 549300NI5BL19ELU5U14 | Long             | ABS-CBDO         | CORP              | KY        |    265089 | PA      | $265081.95    | 0.00%             | 2031-07-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                  | Weyerhaeuser Co                                                    | CUSIP: 962166CC6<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              | CORP              | US        |  13336000 | PA      | $13369631.12  | 0.10%             | 2026-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MTN Commercial Mortgage Trust                    | MTN Commercial Mortgage Trust 2022-LPFL                            | CUSIP: 62475WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2230000 | PA      | $2231393.75   | 0.02%             | 2039-03-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg                   | DBJPM 16-C1 Mortgage Trust                                         | CUSIP: 23312LAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1913500 | PA      | $1903669.97   | 0.01%             | 2049-05-10      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                          | John Deere Capital Corp                                            | CUSIP: 24422EXS3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  11635000 | PA      | $11670851.65  | 0.09%             | 2027-06-11      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                           | Northwoods Capital XV Ltd                                          | CUSIP: 66860GAU8<br>LEI: 549300YIKFTAGHX8G333 | Long             | ABS-CBDO         | CORP              | KY        |  52000000 | PA      | $52000000.00  | 0.39%             | 2034-06-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                          | Pfizer Investment Enterprises Pte Ltd                              | CUSIP: 716973AC6<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   3000000 | PA      | $3034049.10   | 0.02%             | 2028-05-19      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 0 12/25                                 | PHILLIPS 0 12/25                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1496763.75   | 0.01%             | 2025-12-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SWEDBANK (NEW YORK)                              | Swedbank AB/New York                                               | CUSIP: 87019WS89<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9002492.10   | 0.07%             | 2026-09-16      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                       | CUSIP: 902613AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  15000000 | PA      | $15021408.00  | 0.11%             | 2027-01-12      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                   | Galaxy XXV CLO Ltd                                                 | CUSIP: 36319XBA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  54000000 | PA      | $53994060.00  | 0.41%             | 2036-04-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| GEORGIA-PACIFIC LLC                              | Georgia-Pacific LLC                                                | CUSIP: 37331NAR2<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6063435.85   | 0.05%             | 2028-06-30      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $781548.99    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                           | Protective Life Global Funding                                     | CUSIP: 74368CBX1<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |  19000000 | PA      | $19188752.78  | 0.15%             | 2027-01-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS4                              | CUSIP: 36251XAR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21277500 | PA      | $21085676.95  | 0.16%             | 2049-11-10      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2025-HE3                                  | CUSIP: 46660CAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17400000 | PA      | $17400000.00  | 0.13%             | 2056-03-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP                              | CARRIER GLOBAL CORP                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  42000000 | PA      | $41966925.00  | 0.32%             | 2025-12-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                     | Alphabet Inc                                                       | CUSIP: 02079KAV9<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |  17300000 | PA      | $17405197.07  | 0.13%             | 2028-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                                   | ICG US Clo 2020-1 Ltd                                              | CUSIP: 449251AU1<br>LEI: 254900UXTGDH0QOBDH07 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $50009500.00  | 0.38%             | 2035-01-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                              | Wells Fargo Bank NA                                                | CUSIP: 94988J6J1<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |  12800000 | PA      | $12805349.40  | 0.10%             | 2026-01-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion CLO XII Ltd                                              | CUSIP: 07133RAW5<br>LEI: 549300JIE0P78OIZGS60 | Long             | ABS-CBDO         | CORP              | KY        |  12314488 | PA      | $12310554.95  | 0.09%             | 2031-05-17      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS4                              | CUSIP: 36251XAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4599766 | PA      | $4558971.17   | 0.03%             | 2049-11-10      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2017-C4                        | CUSIP: 17326FAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1073600 | PA      | $1057481.05   | 0.01%             | 2050-10-12      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                            | Toronto-Dominion Bank/The                                          | CUSIP: 89115KAD2<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  22500000 | PA      | $22795562.25  | 0.17%             | 2028-06-02      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                         | Alexandria Real Estate Equities Inc                                | CUSIP: 015271AP4<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |   3370000 | PA      | $3363510.51   | 0.03%             | 2026-04-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| CARGILL INC                                      | Cargill Inc                                                        | CUSIP: 141781CE2<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |  45700000 | PA      | $46431879.83  | 0.35%             | 2028-02-11      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                    | Ballyrock CLO 2020-2 Ltd                                           | CUSIP: 05875DAJ1<br>LEI: 254900Y6C4AXEAZ9T124 | Long             | ABS-CBDO         | CORP              | KY        |  12250187 | PA      | $12257454.55  | 0.09%             | 2031-10-20      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| LSEG US FIN CORP                                 | Lseg US Fin Corp                                                   | CUSIP: 50222CAA8<br>LEI: 2138007FV67QQ13CGJ43 | Long             | DBT              | CORP              | US        |   7140000 | PA      | $7212890.12   | 0.05%             | 2027-03-28      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                         | Volkswagen Group of America Finance LLC                            | CUSIP: 928668CN0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   8300000 | PA      | $8362341.30   | 0.06%             | 2027-03-25      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-C35                     | CUSIP: 95000FAS5<br>LEI: 549300MZIB10PDVAE312 | Long             | ABS-MBS          | CORP              | US        |   1526114 | PA      | $1516453.04   | 0.01%             | 2048-07-15      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| NATIXIS NY BRANCH                                | Natixis SA/New York NY                                             | CUSIP: 63873TGF9<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | DBT              | CORP              | US        |  65000000 | PA      | $64999720.50  | 0.49%             | 2026-10-09      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                     | CD 2017-CD3 Mortgage Trust                                         | CUSIP: 12515GAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5090102 | PA      | $5050042.49   | 0.04%             | 2050-02-10      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| VW CREDIT INC 03/19/2026                         | VW CREDIT INC 03/19/2026                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29624667.00  | 0.22%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                           | Roper Technologies Inc                                             | CUSIP: 776696AK2<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10043440.13  | 0.08%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2018-BNK13                                                    | CUSIP: 06539LBA7<br>LEI: 549300664283JRAXM588 | Long             | ABS-MBS          | CORP              | US        |  13451923 | PA      | $13376807.91  | 0.10%             | 2061-08-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                | NatWest Group PLC                                                  | CUSIP: 639057AC2<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |  52711000 | PA      | $51987836.71  | 0.39%             | 2027-06-14      | Fixed         | 1.64%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CIB NY                           | Credit Agricole Corporate and Investment Bank/New York             | CUSIP: 22532XF94<br>LEI: 254900BN8XS34XZDJ223 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50002590.00  | 0.38%             | 2026-10-26      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KCS7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  19000000 | PA      | $19019217.19  | 0.14%             | 2026-01-29      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                   | Amazon.com Inc                                                     | CUSIP: 023135CS3<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30120887.02  | 0.23%             | 2028-11-20      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                               | BANK OF AMERICA NA                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25010923.75  | 0.19%             | 2026-04-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NATIXIS NY BRANCH                                | Natixis SA/New York NY                                             | CUSIP: 63873Q6M1<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | DBT              | CORP              | FR        |  10000000 | PA      | $10023086.00  | 0.08%             | 2026-10-29      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Saratoga Investment Corp CLO L                   | Saratoga Investment Corp CLO 2013-1 Ltd                            | CUSIP: 80349BCD7<br>LEI: 549300471O2DE0Y4L506 | Long             | ABS-CBDO         | CORP              | KY        |  10431392 | PA      | $10439319.65  | 0.08%             | 2033-04-20      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                   | JPMBB Commercial Mortgage Securities Trust 2014-C24                | CUSIP: 46643GAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    759711 | PA      | $747248.62    | 0.01%             | 2047-11-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                          | Jefferies Financial Group Inc                                      | CUSIP: 47233WKS7<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |  46000000 | PA      | $46019839.71  | 0.35%             | 2026-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2013-2 Ltd                                                | CUSIP: 92916WAA7<br>LEI: 5493007ASGBOUR3XJY69 | Long             | ABS-CBDO         | CORP              | KY        |    243913 | PA      | $243899.65    | 0.00%             | 2031-04-25      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                   | Starbucks Corp                                                     | CUSIP: 855244BG3<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |  34375000 | PA      | $34683174.82  | 0.26%             | 2027-02-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                        | Apple Inc                                                          | CUSIP: 037833BY5<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |  13150000 | PA      | $13124321.20  | 0.10%             | 2026-02-23      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                          | Corebridge Global Funding                                          | CUSIP: 00138CBB3<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25239936.85  | 0.19%             | 2027-08-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                            | KKR CLO 40 Ltd                                                     | CUSIP: 48254UAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |  15000000 | PA      | $14999707.50  | 0.11%             | 2034-10-20      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2023-2 LLC                              | CUSIP: 29375NAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2497874 | PA      | $2512008.04   | 0.02%             | 2030-04-22      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ACZ8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |  16670000 | PA      | $16722552.31  | 0.13%             | 2027-03-19      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                   | BRAVO Residential Funding Trust 2025-CES3                          | CUSIP: 10570AAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11300000 | PA      | $11305226.10  | 0.09%             | 2055-12-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2019-RPL1 Trust                                               | CUSIP: 12596MAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2960955 | PA      | $2917868.18   | 0.02%             | 2058-07-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                           | Rockford Tower CLO 2019-1 Ltd                                      | CUSIP: 77342MAY2<br>LEI: 549300GGUAM1ZV2SKK63 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49989440.00  | 0.38%             | 2034-04-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FIN CORP 0.0 06FEB26              | AMERICAN HONDA FIN CORP 0.0 06FEB26                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3967800.00   | 0.03%             | 2026-02-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                          | Cooperatieve Rabobank UA/NY                                        | CUSIP: 21688ABP6<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  22500000 | PA      | $22553858.25  | 0.17%             | 2028-10-17      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                          | Corebridge Global Funding                                          | CUSIP: 00138CBG2<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  18200000 | PA      | $18254606.53  | 0.14%             | 2028-08-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                         | BHP Billiton Finance USA Ltd                                       | CUSIP: 055451AY4<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |  30000000 | PA      | $30040614.00  | 0.23%             | 2026-02-27      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                         | ALIMENTATION COUCHE-TARD INC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  28000000 | PA      | $27822043.20  | 0.21%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2018-COR3 Mortgage Trust                                      | CUSIP: 12595VAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1589909 | PA      | $1574878.86   | 0.01%             | 2051-05-10      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                         | Principal Life Global Funding II                                   | CUSIP: 74256LEX3<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |   7714000 | PA      | $7795550.17   | 0.06%             | 2027-01-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XLV Ltd                                       | CUSIP: 55820BAS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  17000000 | PA      | $17008500.00  | 0.13%             | 2034-07-15      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XLVIII Ltd                                    | CUSIP: 55821UAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  11771085 | PA      | $11776092.90  | 0.09%             | 2033-04-19      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                    | Amphenol Corp                                                      | CUSIP: 032095AX9<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |  12800000 | PA      | $12799365.81  | 0.10%             | 2028-11-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2023-3 LLC                              | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6317495 | PA      | $6401784.94   | 0.05%             | 2030-03-20      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                                | Johnson & Johnson                                                  | CUSIP: 478160DH4<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |  19800000 | PA      | $20175147.33  | 0.15%             | 2028-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JBD8<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14962500.00  | 0.11%             | 2027-04-01      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | BOFA SECURITIES INC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $35017111.50  | 0.26%             | 2026-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-C3                        | CUSIP: 17325GAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  15933135 | PA      | $15756505.05  | 0.12%             | 2049-11-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| VW CREDIT INC                                    | VW CREDIT INC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4441171.95   | 0.03%             | 2026-03-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INTESA SANP 4.27 6/26                            | INTESA SANP 4.27 6/26                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        | 102500000 | PA      | $102557143.75 | 0.78%             | 2026-06-30      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-                   | One New York Plaza Trust 2020-1NYP                                 | CUSIP: 68249DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17410000 | PA      | $16740642.95  | 0.13%             | 2036-01-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                          | Cooperatieve Rabobank UA/NY                                        | CUSIP: 21688ABQ4<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  22500000 | PA      | $22498517.25  | 0.17%             | 2028-10-17      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TKT1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15028695.60  | 0.11%             | 2026-05-18      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL                           | Banque Federative du Credit Mutuel SA                              | CUSIP: 06675DCH3<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |  10890000 | PA      | $10949284.07  | 0.08%             | 2027-01-23      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation Clo 2021-13 Ltd                                          | CUSIP: 28622EAS7<br>LEI: 549300YZ3RIOTSOP0V95 | Long             | ABS-CBDO         | CORP              | KY        |  62500000 | PA      | $62469262.50  | 0.47%             | 2034-07-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                               | BMW US Capital LLC                                                 | CUSIP: 05565EDA0<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $16040246.40  | 0.12%             | 2027-08-11      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-XL2                              | CUSIP: 05609KAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4027266 | PA      | $4022248.52   | 0.03%             | 2038-10-15      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                           | Morgan Stanley Bank NA                                             | CUSIP: 61690U8F0<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |  30420000 | PA      | $30479702.10  | 0.23%             | 2027-10-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                | Wellfleet CLO 2021-1 Ltd                                           | CUSIP: 94950CAL0<br>LEI: 2549004R1NTM2HJCGO78 | Long             | ABS-CBDO         | CORP              | KY        |  25000000 | PA      | $25000467.50  | 0.19%             | 2034-04-20      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| JEFFERSON MILL CLO LTD                           | Jefferson Mill CLO Ltd                                             | CUSIP: 47421MBJ1<br>LEI: 549300RV1TCF15DHXS87 | Long             | ABS-CBDO         | CORP              | KY        |   7774896 | PA      | $7778765.62   | 0.06%             | 2031-10-20      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                            | Toronto-Dominion Bank/The                                          | CUSIP: 89115KAA8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   7500000 | PA      | $7532093.25   | 0.06%             | 2028-06-02      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                         | ALIMENTATION COUCHE-TARD INC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  53000000 | PA      | $52669280.00  | 0.40%             | 2026-01-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Octagon 64 Ltd                                   | Octagon 64 Ltd                                                     | CUSIP: 67579AAW7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $50038865.00  | 0.38%             | 2035-07-21      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2018-B5 Mortgage Trust                                   | CUSIP: 08160BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    521933 | PA      | $518146.48    | 0.00%             | 2051-07-15      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMP BK COMM NY                          | Canadian Imperial Bank of Commerce/New York NY                     | CUSIP: 13606DLT7<br>LEI: 549300H8L46OOZOFHU82 | Long             | DBT              | CORP              | US        |  35000000 | PA      | $35034867.00  | 0.27%             | 2026-08-03      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2022-LBA6                                                 | CUSIP: 12433EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  74019000 | PA      | $73926757.52  | 0.56%             | 2039-01-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                | HEALTHPEAK OP LLC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17000000 | PA      | $16990204.60  | 0.13%             | 2025-12-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2017-C40                     | CUSIP: 95000YAX3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10800000 | PA      | $10683719.64  | 0.08%             | 2050-10-15      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| GCAT                                             | GCAT 2025-NQM7 Trust                                               | CUSIP: 36831RAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  20000000 | PA      | $20028968.00  | 0.15%             | 2070-11-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| TIAA CLO Ltd                                     | TIAA CLO IV Ltd                                                    | CUSIP: 88631YAL1<br>LEI: 5493000Q4E256SBMCY29 | Long             | ABS-CBDO         | CORP              | KY        |   6304603 | PA      | $6305074.81   | 0.05%             | 2032-01-20      | Floating      | 5.02%                 | 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        | 190913049 | NS      | $190913048.88 | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NJ Trust 2023-GSP                                | NJ Trust 2023-GSP                                                  | CUSIP: 65486XAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5630000 | PA      | $5918424.34   | 0.04%             | 2029-01-06      | Variable      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                             | BlueMountain CLO XXXII Ltd                                         | CUSIP: 09631EAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $14999715.00  | 0.11%             | 2034-10-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| BAYER CORPORATION 0 7/26                         | BAYER CORPORATION 0 7/26                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | DE        |  31000000 | PA      | $30197224.00  | 0.23%             | 2026-07-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-P5                        | CUSIP: 17325DAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4022679 | PA      | $3981644.61   | 0.03%             | 2049-10-10      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| UDR INC DISC COM PAPER 0.0 16DEC25               | UDR INC DISC COM PAPER 0.0 16DEC25                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34928810.00  | 0.26%             | 2025-12-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CENOVUS ENERGY INC                               | Cenovus Energy Inc                                                 | CUSIP: 15135UAM1<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |  33000000 | PA      | $33017536.20  | 0.25%             | 2027-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2024-HE2                                  | CUSIP: 46593HAA6<br>LEI: 529900ELA1S09AZO9Q54 | Long             | ABS-O            | CORP              | US        |   5180673 | PA      | $5180652.89   | 0.04%             | 2054-10-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                        | BPR Trust 2021-TY                                                  | CUSIP: 05592AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16779000 | PA      | $16773756.56  | 0.13%             | 2038-09-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                          | National Australia Bank Ltd                                        | CUSIP: 632525CG4<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |  25000000 | PA      | $24994727.50  | 0.19%             | 2028-03-06      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TML6<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6017198.68   | 0.05%             | 2026-08-07      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                           | Protective Life Global Funding                                     | CUSIP: 743672AJ6<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50025173.05  | 0.38%             | 2028-09-11      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                | Jamestown CLO XIV Ltd                                              | CUSIP: 47048XBC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  40000000 | PA      | $39960296.00  | 0.30%             | 2034-10-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                   | Home Depot Inc/The                                                 | CUSIP: 437076DB5<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |  21700000 | PA      | $22063924.40  | 0.17%             | 2027-06-25      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| 3650R Commercial Mortgage Trus                   | 3650R 2021-PF1 Commercial Mortgage Trust                           | CUSIP: 88581EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1707792 | PA      | $1681258.90   | 0.01%             | 2054-11-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                         | Microchip Technology Inc                                           | CUSIP: 595017BK9<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $16235493.51  | 0.12%             | 2028-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2018-B5 Mortgage Trust                                   | CUSIP: 08160BAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5600000 | PA      | $5565721.84   | 0.04%             | 2051-07-15      | Fixed         | 3.94%                 | No            |                  2 | On Loan: No      |
| Clover CLO                                       | Clover CLO 2021-3 LLC                                              | CUSIP: 18915FAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  16000000 | PA      | $15998412.80  | 0.12%             | 2035-01-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-C1                        | CUSIP: 17290YAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3869284 | PA      | $3856932.31   | 0.03%             | 2049-05-10      | Fixed         | 2.94%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC                                    | Citigroup Inc                                                      | CUSIP: 17327CAM5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  74336000 | PA      | $73964823.98  | 0.56%             | 2027-01-28      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES L 0.0 05DEC25              | TRANSCANADA PIPELINES L 0.0 05DEC25                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  31000000 | PA      | $30975528.60  | 0.23%             | 2025-12-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                             | Keurig Dr Pepper Inc                                               | CUSIP: 49271VAS9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |  26000000 | PA      | $26004187.72  | 0.20%             | 2027-03-15      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                     | Comcast Corp                                                       | CUSIP: 20030NBW0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |  55609000 | PA      | $54636946.76  | 0.41%             | 2027-01-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-NXS6                    | CUSIP: 95000KBB0<br>LEI: 549300CFP9NBBMZH1008 | Long             | ABS-MBS          | CORP              | US        |   2390000 | PA      | $2363860.57   | 0.02%             | 2049-11-15      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| Regatta VII Funding Ltd                          | Regatta VII Funding Ltd                                            | CUSIP: 75888ABQ8<br>LEI: 549300DA6HSLI0UPTQ25 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49978860.00  | 0.38%             | 2034-06-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Park Avenue Institutional Advi                   | Park Avenue Institutional Advisers CLO Ltd 2017-1                  | CUSIP: 70017KAY5<br>LEI: 549300ZWX1MRCB6KO574 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49980860.00  | 0.38%             | 2034-02-14      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                                   | Romark WM-R Ltd                                                    | CUSIP: 77587AAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3052502 | PA      | $3052560.57   | 0.02%             | 2031-04-20      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2017-C41                     | CUSIP: 95001ABC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    815000 | PA      | $800327.39    | 0.01%             | 2050-11-15      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTICS INC                            | Quest Diagnostics Inc                                              | CUSIP: 74834LBE9<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |   7400000 | PA      | $7491829.59   | 0.06%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| COOPR Residential Mortgage Tru                   | COOPR Residential Mortgage Trust 2025-CES4                         | CUSIP: 12636SAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10127962 | PA      | $10133727.94  | 0.08%             | 2060-11-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                    | Amphenol Corp                                                      | CUSIP: 032095AW1<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |  25600000 | PA      | $25553997.55  | 0.19%             | 2027-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2023-1 LLC                              | CUSIP: 29375CAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    808214 | PA      | $809681.83    | 0.01%             | 2029-01-22      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-1160078.34  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PGIM AAA CLO ETF - Old IO fund                   | PGIM AAA CLO ETF - Old IO fund                                     | CUSIP: 69344A834<br>LEI: 5493000IJ4TGDWNHKI54 | Long             | EC               | RF                | US        |   3100500 | NS      | $159520725.00 | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Avis Budget Rental Car Funding                   | Avis Budget Rental Car Funding AESOP LLC                           | CUSIP: 05377RGU2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |  20000000 | PA      | $20249660.00  | 0.15%             | 2028-02-22      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                            | KKR CLO 11 Ltd                                                     | CUSIP: 48250MAK3<br>LEI: 549300PJRIGYUE3V5M12 | Long             | ABS-CBDO         | CORP              | KY        |    160008 | PA      | $160067.94    | 0.00%             | 2031-01-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                      | Equifax Inc                                                        | CUSIP: 294429AL9<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |   7600000 | PA      | $7560538.05   | 0.06%             | 2026-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                         | International Business Machines Corp                               | CUSIP: 459200KW0<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |  37000000 | PA      | $37022327.75  | 0.28%             | 2026-02-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HERSHEY COMPANY                                  | Hershey Co/The                                                     | CUSIP: 427866BK3<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12206500.53  | 0.09%             | 2028-02-24      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV                                 | ABN AMRO Bank NV                                                   | CUSIP: 00084DBG4<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |  93000000 | PA      | $93731519.40  | 0.71%             | 2027-01-22      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C33        | CUSIP: 61767CAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17000000 | PA      | $16801446.80  | 0.13%             | 2050-05-15      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2018-2                                   | CUSIP: 89175VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1781543 | PA      | $1764206.88   | 0.01%             | 2058-03-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2021-VII Ltd                                          | CUSIP: 12567HAQ5<br>LEI: 54930089HD7KU5NUS092 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $50023675.00  | 0.38%             | 2035-01-23      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2021-LBA                                                  | CUSIP: 05609BCD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9982231 | PA      | $9969962.84   | 0.08%             | 2036-02-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2024-2 Ltd                              | CUSIP: 69703RAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  18887736 | PA      | $18878364.34  | 0.14%             | 2033-01-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-CIP                              | CUSIP: 12434FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  62342206 | PA      | $62283760.13  | 0.47%             | 2038-12-15      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                           | Canyon Capital CLO 2016-1 Ltd                                      | CUSIP: 13887PAK1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8010064 | PA      | $8013569.56   | 0.06%             | 2031-07-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-328869.55   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NTT FINANCE AMERICAS INC                         | NTT FINANCE AMERICAS INC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24988917.50  | 0.19%             | 2025-12-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XEW2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30003092.92  | 0.23%             | 2027-07-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                           | Protective Life Global Funding                                     | CUSIP: 743672AE7<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10006948.53  | 0.08%             | 2026-04-10      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Regatta XVI Funding Ltd.                         | Regatta XVI Funding Ltd                                            | CUSIP: 75888TAL9<br>LEI: 254900XPJFGKL5R4O429 | Long             | ABS-CBDO         | CORP              | KY        |  25949227 | PA      | $25975830.54  | 0.20%             | 2033-01-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                   | Lowe's Cos Inc                                                     | CUSIP: 548661EU7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |  37450000 | PA      | $37447735.10  | 0.28%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CIB NY                           | Credit Agricole Corporate and Investment Bank/New York             | CUSIP: 22532XYG7<br>LEI: 254900BN8XS34XZDJ223 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10081529.33  | 0.08%             | 2027-06-07      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853BB5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |  16600000 | PA      | $16613280.00  | 0.13%             | 2028-01-13      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE 0.00 01DEC25              | ALEXANDRIA REAL ESTATE 0.00 01DEC25                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  51950000 | PA      | $51931983.74  | 0.39%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                   | Starbucks Corp                                                     | CUSIP: 855244BN8<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30307244.75  | 0.23%             | 2028-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                           | Protective Life Global Funding                                     | CUSIP: 74368CBZ6<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20130115.83  | 0.15%             | 2027-09-13      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-3200368.74  | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| RR Ltd                                           | RR 17 Ltd                                                          | CUSIP: 74980QAL5<br>LEI: 549300H1BYT42IUZDL59 | Long             | ABS-CBDO         | CORP              | KY        |  40000000 | PA      | $39981488.00  | 0.30%             | 2034-07-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                 | Trinitas CLO XI Ltd                                                | CUSIP: 89641HBC3<br>LEI: 549300T8V1JZG1WFK175 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49975230.00  | 0.38%             | 2034-07-15      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2016-1 Ltd                                                | CUSIP: 92915CAQ7<br>LEI: 549300BRUAMTEA33B077 | Long             | ABS-CBDO         | CORP              | KY        |   1929654 | PA      | $1929983.56   | 0.01%             | 2031-01-20      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                         | Volkswagen Group of America Finance LLC                            | CUSIP: 928668CV2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12537676.25  | 0.09%             | 2027-09-11      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FIN CORP 0.0 13JAN26              | AMERICAN HONDA FIN CORP 0.0 13JAN26                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19895120.00  | 0.15%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                | Cisco Systems Inc                                                  | CUSIP: 17275RBC5<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |  19573000 | PA      | $19512144.18  | 0.15%             | 2026-02-28      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                   | Lowe's Cos Inc                                                     | CUSIP: 548661ET0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24993530.12  | 0.19%             | 2027-10-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCE                         | Pioneer Natural Resources Co                                       | CUSIP: 723787AT4<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |  21470000 | PA      | $21389206.10  | 0.16%             | 2026-01-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| NATIONAL SECS CLEARING                           | National Securities Clearing Corp                                  | CUSIP: 637639AN5<br>LEI: 549300RYC9NELN2ICA34 | Long             | DBT              | CORP              | US        |  29250000 | PA      | $29482474.40  | 0.22%             | 2027-05-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680AS2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   6210000 | PA      | $6198171.10   | 0.05%             | 2027-07-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-5624173.48  | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CANADIAN IMP BK COMM NY                          | Canadian Imperial Bank of Commerce/New York NY                     | CUSIP: 13606DHZ8<br>LEI: 549300H8L46OOZOFHU82 | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17519838.00  | 0.13%             | 2026-05-08      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                  | Nordea Bank Abp                                                    | CUSIP: 65558RAF6<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   5556000 | PA      | $5576472.75   | 0.04%             | 2027-03-19      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-BNK1                    | CUSIP: 95000GAX2<br>LEI: 549300DNBJ7A0SEFVK31 | Long             | ABS-MBS          | CORP              | US        |  14286083 | PA      | $14182377.00  | 0.11%             | 2049-08-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66                                      | PHILLIPS 66                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14000000 | PA      | $13995254.00  | 0.11%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-P4                        | CUSIP: 29429EAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3634845 | PA      | $3619595.35   | 0.03%             | 2049-07-10      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                 | Duke Energy Corp                                                   | CUSIP: 26441CBV6<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |  13250000 | PA      | $13248551.56  | 0.10%             | 2025-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORTIVE CORPORATION                              | Fortive Corp                                                       | CUSIP: 34959JAG3<br>LEI: 549300MU9YQJYHDQEF63 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24843563.37  | 0.19%             | 2026-06-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                  | Nordea Bank Abp                                                    | CUSIP: 65558RAM1<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |  20000000 | PA      | $20054036.00  | 0.15%             | 2028-03-17      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                              | American Express Co                                                | CUSIP: 025816DT3<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |  34206000 | PA      | $34409596.09  | 0.26%             | 2027-04-23      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                          | Metropolitan Life Global Funding I                                 | CUSIP: 592179KR5<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15064526.28  | 0.11%             | 2028-08-25      | Fixed         | 4.15%                 | No            |                  2 | 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