# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-26-003720
**Filing Date:** 2026-3
**Character Count:** 100114
**Document Hash:** 30c48be3318ff8d044314ff5aee26d42
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-003720.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0001099263-26-003720

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**PERIOD START**: 20261031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 26812538

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

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

## Series and Classes Contracts Data

### T. Rowe Price International Equity ETF (Series ID: S000079836)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000241224 | T. Rowe Price International Equity ETF | TOUS            |

## Nport-Ex

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

January 31, 2026 Unaudited

---

| | | |
|:---|:---|:---|
| **PORTFOLIO OF INVESTMENTS‡** | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| **ARGENTINA 0.4%** | **ARGENTINA 0.4%** | **ARGENTINA 0.4%** |
| **Common Stocks 0.4%** |  |  |
| MercadoLibre (USD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257 | &nbsp;&nbsp;&nbsp;4848 |
| **Total Argentina (Cost $4,578)** |  | &nbsp;&nbsp;&nbsp;**4848** |
| **AUSTRALIA 2.0%** | **AUSTRALIA 2.0%** | **AUSTRALIA 2.0%** |
| **Common Stocks 2.0%** |  |  |
| BHP Group, Class DI (GBP) (2) | &nbsp;&nbsp;&nbsp;&nbsp;332709 | 11482 |
| Downer EDI | 1310038 | &nbsp;&nbsp;&nbsp;7306 |
| Qantas Airways | &nbsp;&nbsp;&nbsp;&nbsp;379813 | &nbsp;&nbsp;&nbsp;2655 |
| Westpac Banking | &nbsp;&nbsp;&nbsp;&nbsp;116299 | &nbsp;&nbsp;&nbsp;3125 |
| **Total Australia (Cost $18,797)** |  | **24568** |
| **AUSTRIA 1.9%** | **AUSTRIA 1.9%** | **AUSTRIA 1.9%** |
| **Common Stocks 1.9%** |  |  |
| BAWAG Group | &nbsp;&nbsp;&nbsp;&nbsp;78987 | 12849 |
| Erste Group Bank | &nbsp;&nbsp;&nbsp;&nbsp;32151 | &nbsp;&nbsp;&nbsp;4180 |
| OMV | &nbsp;&nbsp;&nbsp;&nbsp;110743 | &nbsp;&nbsp;&nbsp;6579 |
| **Total Austria (Cost $17,901)** |  | **23608** |
| **BELGIUM 0.5%** | **BELGIUM 0.5%** | **BELGIUM 0.5%** |
| **Common Stocks 0.5%** |  |  |
| UCB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8199 | &nbsp;&nbsp;&nbsp;2499 |
| Warehouses De Pauw | &nbsp;&nbsp;&nbsp;&nbsp;140818 | &nbsp;&nbsp;&nbsp;3990 |
| **Total Belgium (Cost $5,828)** |  | &nbsp;&nbsp;&nbsp;**6489** |
| **CANADA 3.0%** | **CANADA 3.0%** | **CANADA 3.0%** |
| **Common Stocks 3.0%** |  |  |
| Canadian National Railway | &nbsp;&nbsp;&nbsp;&nbsp;90818 | &nbsp;&nbsp;&nbsp;8737 |
| Cenovus Energy | &nbsp;&nbsp;&nbsp;&nbsp;228249 | &nbsp;&nbsp;&nbsp;4504 |
| Descartes Systems Group (1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;46580 | &nbsp;&nbsp;&nbsp;3479 |
| Element Fleet Management | &nbsp;&nbsp;&nbsp;&nbsp;222334 | &nbsp;&nbsp;&nbsp;5633 |
| Great-West Lifeco | &nbsp;&nbsp;&nbsp;&nbsp;86659 | &nbsp;&nbsp;&nbsp;4056 |
| Shopify, Class A (1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;34469 | &nbsp;&nbsp;&nbsp;4523 |
| Suncor Energy (USD) | &nbsp;&nbsp;&nbsp;&nbsp;68035 | &nbsp;&nbsp;&nbsp;3604 |
| TMX Group | &nbsp;&nbsp;&nbsp;&nbsp;62849 | &nbsp;&nbsp;&nbsp;2320 |
| **Total Canada (Cost $34,581)** |  | **36856** |
| **CHINA 0.6%** | **CHINA 0.6%** | **CHINA 0.6%** |
| **Common Stocks 0.6%** |  |  |
| Alibaba Group Holding (HKD) | &nbsp;&nbsp;&nbsp;&nbsp;312468 | &nbsp;&nbsp;&nbsp;6647 |
| Shenzhou International Group Holdings (HKD) | &nbsp;&nbsp;&nbsp;&nbsp;171700 | &nbsp;&nbsp;&nbsp;1366 |
| **Total China (Cost $6,704)** |  | &nbsp;&nbsp;&nbsp;**8013** |
| **DENMARK 1.2%** | **DENMARK 1.2%** | **DENMARK 1.2%** |
| **Common Stocks 1.2%** |  |  |
| Novo Nordisk, Class B | &nbsp;&nbsp;&nbsp;&nbsp;195260 | 11594 |

---

------

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Orsted (1) | 176055 | &nbsp;&nbsp;&nbsp;&nbsp;3961 |
| **Total Denmark (Cost $14,359)** |  | &nbsp;&nbsp;&nbsp;**15555** |
| **FINLAND 0.8%** | **FINLAND 0.8%** | **FINLAND 0.8%** |
| **Common Stocks 0.8%** |  |  |
| Sampo, Class A | 303537 | &nbsp;&nbsp;&nbsp;&nbsp;3385 |
| Stora Enso, Class R | 262394 | &nbsp;&nbsp;&nbsp;&nbsp;3021 |
| UPM-Kymmene | 116520 | &nbsp;&nbsp;&nbsp;&nbsp;3214 |
| **Total Finland (Cost $9,298)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**9620** |
| **FRANCE 11.7%** | **FRANCE 11.7%** | **FRANCE 11.7%** |
| **Common Stocks 11.7%** |  |  |
| Air Liquide | &nbsp;&nbsp;&nbsp;16855 | &nbsp;&nbsp;&nbsp;&nbsp;3156 |
| Airbus | &nbsp;&nbsp;&nbsp;51484 | &nbsp;&nbsp;&nbsp;11787 |
| Alstom (1) | 151509 | &nbsp;&nbsp;&nbsp;&nbsp;4837 |
| AXA | 317850 | &nbsp;&nbsp;&nbsp;14494 |
| BNP Paribas | &nbsp;&nbsp;&nbsp;56724 | &nbsp;&nbsp;&nbsp;&nbsp;6134 |
| Cie de Saint-Gobain | &nbsp;&nbsp;&nbsp;43691 | &nbsp;&nbsp;&nbsp;&nbsp;4313 |
| Dassault Aviation | &nbsp;&nbsp;&nbsp;27995 | &nbsp;&nbsp;&nbsp;10643 |
| Engie | 187772 | &nbsp;&nbsp;&nbsp;&nbsp;5606 |
| EssilorLuxottica | &nbsp;&nbsp;&nbsp;&nbsp;9611 | &nbsp;&nbsp;&nbsp;&nbsp;2938 |
| Eurofins Scientific | &nbsp;&nbsp;&nbsp;58260 | &nbsp;&nbsp;&nbsp;&nbsp;4713 |
| Legrand | &nbsp;&nbsp;&nbsp;35575 | &nbsp;&nbsp;&nbsp;&nbsp;5680 |
| LVMH Moet Hennessy Louis Vuitton | &nbsp;&nbsp;&nbsp;15150 | &nbsp;&nbsp;&nbsp;&nbsp;9778 |
| Safran | &nbsp;&nbsp;&nbsp;22082 | &nbsp;&nbsp;&nbsp;&nbsp;7890 |
| Sanofi | &nbsp;&nbsp;&nbsp;86989 | &nbsp;&nbsp;&nbsp;&nbsp;8205 |
| Sartorius Stedim Biotech | &nbsp;&nbsp;&nbsp;24024 | &nbsp;&nbsp;&nbsp;&nbsp;5369 |
| Schneider Electric | &nbsp;&nbsp;&nbsp;18204 | &nbsp;&nbsp;&nbsp;&nbsp;5219 |
| Societe Generale | 156228 | &nbsp;&nbsp;&nbsp;13690 |
| TotalEnergies | 171779 | &nbsp;&nbsp;&nbsp;12493 |
| Vinci | &nbsp;&nbsp;&nbsp;59186 | &nbsp;&nbsp;&nbsp;&nbsp;8510 |
| **Total France (Cost $131,827)** |  | **145455** |
| **GERMANY 7.6%** | **GERMANY 7.6%** | **GERMANY 7.6%** |
| **Common Stocks 7.6%** |  |  |
| Allianz | &nbsp;&nbsp;&nbsp;&nbsp;5513 | &nbsp;&nbsp;&nbsp;&nbsp;2427 |
| BASF | &nbsp;&nbsp;&nbsp;93068 | &nbsp;&nbsp;&nbsp;&nbsp;5046 |
| Bayer | &nbsp;&nbsp;&nbsp;45449 | &nbsp;&nbsp;&nbsp;&nbsp;2404 |
| Daimler Truck Holding | &nbsp;&nbsp;&nbsp;94741 | &nbsp;&nbsp;&nbsp;&nbsp;4587 |
| Deutsche Telekom | 391275 | &nbsp;&nbsp;&nbsp;13131 |
| DHL Group | &nbsp;&nbsp;&nbsp;65138 | &nbsp;&nbsp;&nbsp;&nbsp;3643 |
| Heidelberg Materials | &nbsp;&nbsp;&nbsp;34108 | &nbsp;&nbsp;&nbsp;&nbsp;9341 |
| Infineon Technologies | &nbsp;&nbsp;&nbsp;59193 | &nbsp;&nbsp;&nbsp;&nbsp;2894 |
| KION Group | &nbsp;&nbsp;&nbsp;52556 | &nbsp;&nbsp;&nbsp;&nbsp;3712 |
| Quiagen | &nbsp;&nbsp;&nbsp;90529 | &nbsp;&nbsp;&nbsp;&nbsp;4800 |
| SAP | &nbsp;&nbsp;&nbsp;52915 | &nbsp;&nbsp;&nbsp;10571 |
| Siemens | &nbsp;&nbsp;&nbsp;56744 | &nbsp;&nbsp;&nbsp;17155 |
| Siemens Energy (1) | &nbsp;&nbsp;&nbsp;46196 | &nbsp;&nbsp;&nbsp;&nbsp;7871 |

---

------

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Siemens Healthineers | &nbsp;&nbsp;&nbsp;&nbsp;147797 | &nbsp;&nbsp;&nbsp;7377 |
| **Total Germany (Cost $90,112)** |  | **94959** |
| **HONG KONG 1.0%** | **HONG KONG 1.0%** | **HONG KONG 1.0%** |
| **Common Stocks 1.0%** |  |  |
| AIA Group | &nbsp;&nbsp;&nbsp;&nbsp;799200 | &nbsp;&nbsp;&nbsp;9221 |
| Galaxy Entertainment Group | &nbsp;&nbsp;&nbsp;&nbsp;396000 | &nbsp;&nbsp;&nbsp;2012 |
| Techtronic Industries | &nbsp;&nbsp;&nbsp;&nbsp;136500 | &nbsp;&nbsp;&nbsp;1863 |
| **Total Hong Kong (Cost $10,821)** |  | **13096** |
| **HUNGARY 0.6%** | **HUNGARY 0.6%** | **HUNGARY 0.6%** |
| **Common Stocks 0.6%** |  |  |
| OTP Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56474 | &nbsp;&nbsp;&nbsp;7106 |
| **Total Hungary (Cost $4,293)** |  | &nbsp;&nbsp;&nbsp;**7106** |
| **INDIA 0.2%** | **INDIA 0.2%** | **INDIA 0.2%** |
| **Common Stocks 0.2%** |  |  |
| ICICI Bank, ADR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;106548 | &nbsp;&nbsp;&nbsp;3121 |
| **Total India (Cost $3,309)** |  | &nbsp;&nbsp;&nbsp;**3121** |
| **IRELAND 1.0%** | **IRELAND 1.0%** | **IRELAND 1.0%** |
| **Common Stocks 1.0%** |  |  |
| Kingspan Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37228 | &nbsp;&nbsp;&nbsp;3241 |
| Ryanair Holdings | &nbsp;&nbsp;&nbsp;&nbsp;283027 | &nbsp;&nbsp;&nbsp;9606 |
| **Total Ireland (Cost $11,812)** |  | **12847** |
| **ITALY 5.1%** | **ITALY 5.1%** | **ITALY 5.1%** |
| **Common Stocks 5.1%** |  |  |
| Enel | 1210616 | 13376 |
| Ferrari | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11757 | &nbsp;&nbsp;&nbsp;3921 |
| Generali | &nbsp;&nbsp;&nbsp;&nbsp;275625 | 11243 |
| Leonardo | &nbsp;&nbsp;&nbsp;&nbsp;127768 | &nbsp;&nbsp;&nbsp;8538 |
| Poste Italiane | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95508 | &nbsp;&nbsp;&nbsp;2516 |
| UniCredit | &nbsp;&nbsp;&nbsp;&nbsp;274969 | 23962 |
| **Total Italy (Cost $52,785)** |  | **63556** |
| **JAPAN 20.9%** | **JAPAN 20.9%** | **JAPAN 20.9%** |
| **Common Stocks 20.9%** |  |  |
| Ajinomoto | &nbsp;&nbsp;&nbsp;&nbsp;161400 | &nbsp;&nbsp;&nbsp;3692 |
| Asahi Group Holdings | &nbsp;&nbsp;&nbsp;&nbsp;443000 | &nbsp;&nbsp;&nbsp;4638 |
| Asics | &nbsp;&nbsp;&nbsp;&nbsp;152700 | &nbsp;&nbsp;&nbsp;3676 |
| Calbee (2) | &nbsp;&nbsp;&nbsp;&nbsp;132298 | &nbsp;&nbsp;&nbsp;2589 |
| Chugai Pharmaceutical | &nbsp;&nbsp;&nbsp;&nbsp;131000 | &nbsp;&nbsp;&nbsp;7483 |
| Disco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6590 | &nbsp;&nbsp;&nbsp;2809 |
| Food & Life | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72500 | &nbsp;&nbsp;&nbsp;3961 |
| Fujitsu | &nbsp;&nbsp;&nbsp;&nbsp;175400 | &nbsp;&nbsp;&nbsp;4874 |
| Hikari Tsushin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;2347 |
| Hitachi | &nbsp;&nbsp;&nbsp;&nbsp;366200 | 12707 |

---

------

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Isetan Mitsukoshi Holdings (2) | &nbsp;&nbsp;&nbsp;&nbsp;263200 | &nbsp;&nbsp;&nbsp;&nbsp;4224 |
| KDDI | &nbsp;&nbsp;&nbsp;&nbsp;422200 | &nbsp;&nbsp;&nbsp;&nbsp;7128 |
| Keyence | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;3302 |
| Komatsu | &nbsp;&nbsp;&nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;4095 |
| Kyushu Railway | &nbsp;&nbsp;&nbsp;&nbsp;154500 | &nbsp;&nbsp;&nbsp;&nbsp;3934 |
| MatsukiyoCocokara (2) | &nbsp;&nbsp;&nbsp;&nbsp;193400 | &nbsp;&nbsp;&nbsp;&nbsp;3098 |
| Mitsubishi Chemical Group | &nbsp;&nbsp;&nbsp;&nbsp;504100 | &nbsp;&nbsp;&nbsp;&nbsp;3328 |
| Mitsubishi Electric | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;8284 |
| Mitsubishi Estate | &nbsp;&nbsp;&nbsp;&nbsp;416400 | &nbsp;&nbsp;&nbsp;10612 |
| Mitsubishi UFJ Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;831400 | &nbsp;&nbsp;&nbsp;15057 |
| Mitsui Fudosan | &nbsp;&nbsp;&nbsp;&nbsp;378300 | &nbsp;&nbsp;&nbsp;&nbsp;4338 |
| MS&AD Insurance Group Holdings | &nbsp;&nbsp;&nbsp;&nbsp;313800 | &nbsp;&nbsp;&nbsp;&nbsp;7995 |
| Nintendo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18300 | &nbsp;&nbsp;&nbsp;&nbsp;1133 |
| Nippon Sanso Holdings | &nbsp;&nbsp;&nbsp;&nbsp;193100 | &nbsp;&nbsp;&nbsp;&nbsp;5859 |
| Nippon Steel (2) | 1291600 | &nbsp;&nbsp;&nbsp;&nbsp;5382 |
| Olympus | &nbsp;&nbsp;&nbsp;&nbsp;271222 | &nbsp;&nbsp;&nbsp;&nbsp;3240 |
| ORIX | &nbsp;&nbsp;&nbsp;&nbsp;324700 | &nbsp;&nbsp;&nbsp;&nbsp;9895 |
| Recruit Holdings | &nbsp;&nbsp;&nbsp;&nbsp;161900 | &nbsp;&nbsp;&nbsp;&nbsp;8528 |
| Renesas Electronics (1)(2) | 1065700 | &nbsp;&nbsp;&nbsp;17718 |
| Resona Holdings | &nbsp;&nbsp;&nbsp;&nbsp;486400 | &nbsp;&nbsp;&nbsp;&nbsp;5671 |
| Seven & i Holdings | &nbsp;&nbsp;&nbsp;&nbsp;617000 | &nbsp;&nbsp;&nbsp;&nbsp;8836 |
| Shimizu | &nbsp;&nbsp;&nbsp;&nbsp;255600 | &nbsp;&nbsp;&nbsp;&nbsp;4539 |
| Shin-Etsu Chemical | &nbsp;&nbsp;&nbsp;&nbsp;211918 | &nbsp;&nbsp;&nbsp;&nbsp;6969 |
| SoftBank Group | &nbsp;&nbsp;&nbsp;&nbsp;120400 | &nbsp;&nbsp;&nbsp;&nbsp;3288 |
| Sony Group | &nbsp;&nbsp;&nbsp;&nbsp;532200 | &nbsp;&nbsp;&nbsp;11734 |
| Sumitomo | &nbsp;&nbsp;&nbsp;&nbsp;195100 | &nbsp;&nbsp;&nbsp;&nbsp;7923 |
| Sumitomo Mitsui Trust Group | &nbsp;&nbsp;&nbsp;&nbsp;126300 | &nbsp;&nbsp;&nbsp;&nbsp;4218 |
| Taiheiyo Cement | &nbsp;&nbsp;&nbsp;&nbsp;201300 | &nbsp;&nbsp;&nbsp;&nbsp;5532 |
| Takeda Pharmaceutical | &nbsp;&nbsp;&nbsp;&nbsp;290300 | &nbsp;&nbsp;&nbsp;&nbsp;9882 |
| Tokyo Electron | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;1972 |
| Toyota Motor | &nbsp;&nbsp;&nbsp;&nbsp;553800 | &nbsp;&nbsp;&nbsp;12552 |
| Unicharm | &nbsp;&nbsp;&nbsp;&nbsp;297800 | &nbsp;&nbsp;&nbsp;&nbsp;1809 |
| **Total Japan (Cost $231,563)** |  | **260851** |
| **NETHERLANDS 9.4%** | **NETHERLANDS 9.4%** | **NETHERLANDS 9.4%** |
| **Common Stocks 9.4%** |  |  |
| ABN AMRO Bank, CVA | &nbsp;&nbsp;&nbsp;&nbsp;123211 | &nbsp;&nbsp;&nbsp;&nbsp;4540 |
| Adyen (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4795 | &nbsp;&nbsp;&nbsp;&nbsp;7110 |
| AerCap Holdings (USD) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33828 | &nbsp;&nbsp;&nbsp;&nbsp;4860 |
| Argenx, ADR (USD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6076 | &nbsp;&nbsp;&nbsp;&nbsp;5107 |
| ASM International (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8357 | &nbsp;&nbsp;&nbsp;&nbsp;7018 |
| ASML Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30267 | &nbsp;&nbsp;&nbsp;43400 |
| ASR Nederland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24530 | &nbsp;&nbsp;&nbsp;&nbsp;1782 |
| CVC Capital Partners | &nbsp;&nbsp;&nbsp;&nbsp;229919 | &nbsp;&nbsp;&nbsp;&nbsp;4085 |
| ING Groep | &nbsp;&nbsp;&nbsp;&nbsp;502096 | &nbsp;&nbsp;&nbsp;14807 |
| Koninklijke | &nbsp;&nbsp;&nbsp;&nbsp;815795 | &nbsp;&nbsp;&nbsp;&nbsp;3995 |
| Koninklijke Ahold Delhaize | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60443 | &nbsp;&nbsp;&nbsp;&nbsp;2363 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

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| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Koninklijke Philips (2) | &nbsp;&nbsp;&nbsp;&nbsp;174289 | &nbsp;&nbsp;&nbsp;&nbsp;5005 |
| Magnum Ice Cream (GBP) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 |
| Prosus | &nbsp;&nbsp;&nbsp;&nbsp;219164 | &nbsp;&nbsp;&nbsp;12602 |
| **Total Netherlands (Cost $90,048)** |  | **117649** |
| **PORTUGAL 1.4%** | **PORTUGAL 1.4%** | **PORTUGAL 1.4%** |
| **Common Stocks 1.4%** |  |  |
| Banco Comercial Portugues, Class R | 4407685 | &nbsp;&nbsp;&nbsp;&nbsp;4771 |
| Galp Energia SGPS | &nbsp;&nbsp;&nbsp;&nbsp;397761 | &nbsp;&nbsp;&nbsp;&nbsp;7914 |
| Jeronimo Martins | &nbsp;&nbsp;&nbsp;&nbsp;207485 | &nbsp;&nbsp;&nbsp;&nbsp;4893 |
| **Total Portugal (Cost $14,957)** |  | &nbsp;&nbsp;&nbsp;**17578** |
| **SINGAPORE 1.2%** | **SINGAPORE 1.2%** | **SINGAPORE 1.2%** |
| **Common Stocks 1.2%** |  |  |
| DBS Group Holdings | &nbsp;&nbsp;&nbsp;&nbsp;115750 | &nbsp;&nbsp;&nbsp;&nbsp;5380 |
| Sea, ADR (USD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38312 | &nbsp;&nbsp;&nbsp;&nbsp;4463 |
| United Overseas Bank | &nbsp;&nbsp;&nbsp;&nbsp;162193 | &nbsp;&nbsp;&nbsp;&nbsp;4889 |
| **Total Singapore (Cost $14,156)** |  | &nbsp;&nbsp;&nbsp;**14732** |
| **SOUTH KOREA 1.6%** | **SOUTH KOREA 1.6%** | **SOUTH KOREA 1.6%** |
| **Common Stocks 1.6%** |  |  |
| Hyundai Motor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13244 | &nbsp;&nbsp;&nbsp;&nbsp;4610 |
| KT, ADR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;222728 | &nbsp;&nbsp;&nbsp;&nbsp;4659 |
| Samsung Electronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92761 | &nbsp;&nbsp;&nbsp;10248 |
| **Total South Korea (Cost $10,673)** |  | &nbsp;&nbsp;&nbsp;**19517** |
| **SPAIN 2.4%** | **SPAIN 2.4%** | **SPAIN 2.4%** |
| **Common Stocks 2.4%** |  |  |
| Amadeus IT Group, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47608 | &nbsp;&nbsp;&nbsp;&nbsp;3192 |
| Banco Bilbao Vizcaya Argentaria | &nbsp;&nbsp;&nbsp;&nbsp;507017 | &nbsp;&nbsp;&nbsp;12870 |
| Banco Santander | &nbsp;&nbsp;&nbsp;&nbsp;567240 | &nbsp;&nbsp;&nbsp;&nbsp;7243 |
| CaixaBank | &nbsp;&nbsp;&nbsp;&nbsp;300021 | &nbsp;&nbsp;&nbsp;&nbsp;3960 |
| Iberdrola | &nbsp;&nbsp;&nbsp;&nbsp;141575 | &nbsp;&nbsp;&nbsp;&nbsp;3183 |
| Iberdrola (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| **Total Spain (Cost $26,896)** |  | &nbsp;&nbsp;&nbsp;**30489** |
| **SWEDEN 2.1%** | **SWEDEN 2.1%** | **SWEDEN 2.1%** |
| **Common Stocks 2.1%** |  |  |
| Assa Abloy, Class B | &nbsp;&nbsp;&nbsp;&nbsp;112905 | &nbsp;&nbsp;&nbsp;&nbsp;4565 |
| Essity Aktiebolag, Class B | &nbsp;&nbsp;&nbsp;&nbsp;331146 | &nbsp;&nbsp;&nbsp;&nbsp;9805 |
| Spotify Technology (USD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9703 | &nbsp;&nbsp;&nbsp;&nbsp;4855 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;683132 | &nbsp;&nbsp;&nbsp;&nbsp;7398 |
| **Total Sweden (Cost $25,338)** |  | &nbsp;&nbsp;&nbsp;**26623** |
| **SWITZERLAND 4.0%** | **SWITZERLAND 4.0%** | **SWITZERLAND 4.0%** |
| **Common Stocks 4.0%** |  |  |
| Cie Financiere Richemont, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41651 | &nbsp;&nbsp;&nbsp;&nbsp;8085 |
| Julius Baer Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37790 | &nbsp;&nbsp;&nbsp;&nbsp;3157 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Nestle | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52865 | &nbsp;&nbsp;&nbsp;&nbsp;5045 |
| Novartis | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72240 | &nbsp;&nbsp;&nbsp;10718 |
| Partners Group Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182 | &nbsp;&nbsp;&nbsp;&nbsp;2975 |
| Roche Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42697 | &nbsp;&nbsp;&nbsp;19416 |
| **Total Switzerland (Cost $41,759)** |  | &nbsp;&nbsp;&nbsp;**49396** |
| **TAIWAN 0.6%** | **TAIWAN 0.6%** | **TAIWAN 0.6%** |
| **Common Stocks 0.6%** |  |  |
| Taiwan Semiconductor Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;7631 |
| **Total Taiwan (Cost $4,003)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**7631** |
| **UNITED KINGDOM 17.8%** | **UNITED KINGDOM 17.8%** | **UNITED KINGDOM 17.8%** |
| **Common Stocks 17.8%** |  |  |
| AstraZeneca, ADR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;334241 | &nbsp;&nbsp;&nbsp;31007 |
| Aviva | &nbsp;&nbsp;&nbsp;&nbsp;485514 | &nbsp;&nbsp;&nbsp;&nbsp;4233 |
| Barclays | 2387681 | &nbsp;&nbsp;&nbsp;15935 |
| BP | 1140566 | &nbsp;&nbsp;&nbsp;&nbsp;7232 |
| British American Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;137692 | &nbsp;&nbsp;&nbsp;&nbsp;8318 |
| BT Group | 2785802 | &nbsp;&nbsp;&nbsp;&nbsp;7322 |
| Bunzl | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77864 | &nbsp;&nbsp;&nbsp;&nbsp;2183 |
| Compass Group | &nbsp;&nbsp;&nbsp;&nbsp;191889 | &nbsp;&nbsp;&nbsp;&nbsp;5754 |
| GSK, ADR (USD) (2) | &nbsp;&nbsp;&nbsp;&nbsp;143755 | &nbsp;&nbsp;&nbsp;&nbsp;7418 |
| HSBC Holdings | &nbsp;&nbsp;&nbsp;&nbsp;726810 | &nbsp;&nbsp;&nbsp;12822 |
| Imperial Brands | &nbsp;&nbsp;&nbsp;&nbsp;340490 | &nbsp;&nbsp;&nbsp;14341 |
| Informa | &nbsp;&nbsp;&nbsp;&nbsp;231949 | &nbsp;&nbsp;&nbsp;&nbsp;2799 |
| Lloyds Banking Group | 4363667 | &nbsp;&nbsp;&nbsp;&nbsp;6516 |
| National Grid | &nbsp;&nbsp;&nbsp;&nbsp;414739 | &nbsp;&nbsp;&nbsp;&nbsp;7046 |
| Prudential | &nbsp;&nbsp;&nbsp;&nbsp;503944 | &nbsp;&nbsp;&nbsp;&nbsp;8277 |
| RELX | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90194 | &nbsp;&nbsp;&nbsp;&nbsp;3198 |
| Rolls-Royce Holdings | 1498361 | &nbsp;&nbsp;&nbsp;25048 |
| Segro | &nbsp;&nbsp;&nbsp;&nbsp;622344 | &nbsp;&nbsp;&nbsp;&nbsp;6484 |
| Shell | &nbsp;&nbsp;&nbsp;&nbsp;216849 | &nbsp;&nbsp;&nbsp;&nbsp;8336 |
| Smiths Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75695 | &nbsp;&nbsp;&nbsp;&nbsp;2599 |
| SSE | &nbsp;&nbsp;&nbsp;&nbsp;126389 | &nbsp;&nbsp;&nbsp;&nbsp;4201 |
| Standard Chartered | &nbsp;&nbsp;&nbsp;&nbsp;386366 | &nbsp;&nbsp;&nbsp;&nbsp;9886 |
| Taylor Wimpey | 1533933 | &nbsp;&nbsp;&nbsp;&nbsp;2243 |
| Unilever | &nbsp;&nbsp;&nbsp;&nbsp;244072 | &nbsp;&nbsp;&nbsp;16604 |
| Wise, Class A (1) | &nbsp;&nbsp;&nbsp;&nbsp;151011 | &nbsp;&nbsp;&nbsp;&nbsp;1948 |
| **Total United Kingdom (Cost $181,942)** |  | **221750** |
| **UNITED STATES 0.3%** | **UNITED STATES 0.3%** | **UNITED STATES 0.3%** |
| **Common Stocks 0.3%** |  |  |
| Amcor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90556 | &nbsp;&nbsp;&nbsp;&nbsp;4007 |
| **Total United States (Cost $3,922)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**4007** |

---

------

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| **SHORT-TERM INVESTMENTS 2.1%** | **SHORT-TERM INVESTMENTS 2.1%** | **SHORT-TERM INVESTMENTS 2.1%** |
| **Money Market Funds 2.1%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, 3.65% (3) | 25756017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25756 |
| **Total Short-Term Investments<br> (Cost $25,756)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25756** |
| **SECURITIES LENDING COLLATERAL 2.1%** | **SECURITIES LENDING COLLATERAL 2.1%** | **SECURITIES LENDING COLLATERAL 2.1%** |
| **Investments in a Pooled Account through Securities Lending Program with State Street Bank and Trust Company 2.1%** |  |  |
| **Money Market Funds 2.1%** |  |  |
| T. Rowe Price Treasury Reserve Fund, 3.74% (3)(4) | 26364104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26364 |
| **Total Investments in a Pooled Account through Securities Lending Program with State Street Bank and Trust Company** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26364** |
| **Total Securities Lending Collateral (Cost $26,364)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26364** |
| **Total Investments<br> 103.5% of Net Assets (Cost $1,114,382)** |  | **$1292040** |
| **Other Assets Less Liabilities (3.5)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(43868)** |
| **Net Assets 100.0%** |  | **$1248172** |

---

‡ Country classifications are generally based on MSCI categories or another unaffiliated third party data provider; Shares are denominated in the currency of the country presented
unless otherwise noted.

(1) Non-income producing.

(2) All or a portion of this security is on loan at January 31, 2026.

(3) Seven-day yield

(4) Affiliated Companies

---

| | |
|:---|:---|
| ADR | American Depositary Receipts |
| CVA | Dutch Certificate (Certificaten Van Aandelen) |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| USD | U.S. Dollar |

---

------

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

#### AFFILIATED COMPANIES
($000s)

The fund may invest in certain securities that are considered affiliated companies. As defined by the 1940 Act, an affiliated company is one in which the fund owns 5% or more of the outstanding voting securities, or a company that is under common ownership or control. The following securities were considered affiliated companies for all or some portion of the three months ended January 31, 2026. Net realized gain (loss), investment income, change in net unrealized gain/loss, and purchase and sales cost reflect all activity for the period then ended.

---

| | | | |
|:---|:---|:---|:---|
| **Affiliate** | **Net Realized Gain<br> (Loss)** | **Changes in Net<br> Unrealized<br> Gain/Loss** | **Investment<br> Income** |
| T. Rowe Price Government Reserve Fund | &nbsp;&nbsp;$— | $— | $—++ |
| T. Rowe Price Treasury Reserve Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;—++ |
| Totals | $—# | $— | &nbsp;&nbsp;$—+ |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** |
| **Affiliate** | **Value<br> 10/31/25** | **Purchase<br> Cost** | **Sales<br> Cost** | **Value<br> 1/31/26** |
| T. Rowe Price Government Reserve Fund | $21437 | ¤ | ¤ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| T. Rowe Price Treasury Reserve Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | ¤ | ¤ | &nbsp;&nbsp;&nbsp;&nbsp;26364 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |  |  | $26,364^ |

---

---

| |
|:---|
| Excludes earnings on securities lending collateral, which are subject to rebates and fees. |
| Capital gain distributions from underlying Price funds represented $0 of the net realized gain (loss). |
| Investment income comprised $0 of dividend income and $0 of interest income. |
| Purchase and sale information not shown for cash management funds. |
| The cost basis of investments in affiliated companies was $26,364. |

---

The accompanying notes are an integral part of this Portfolio of Investments.

------

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

Unaudited

#### NOTES TO PORTFOLIO OF INVESTMENTS

------

T. Rowe Price Exchange-Traded Funds, Inc. (the corporation) is registered under the Investment Company Act of 1940 (the 1940 Act). The International Equity ETF (the fund) is an open-end management investment company established by the corporation and follows accounting and reporting guidance of the Financial Accounting Standards Board *Accounting Standards Codification* Topic 946. The accompanying Portfolio of Investments was prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). For additional information on the fund's significant accounting policies and investment related disclosures, please refer to the fund's most recent semiannual or annual shareholder report and its prospectus.

#### VALUATION

#### Fair Value
The fund's financial instruments are valued at the close of the New York Stock Exchange (NYSE), normally 4 p.m. Eastern Time, each day the NYSE is open for business, and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fund's Board of Directors (the Board) has designated T. Rowe Price Associates, Inc. as the fund's valuation designee (Valuation Designee). Subject to oversight by the Board, the Valuation Designee performs the following functions in performing fair value determinations: assesses and manages valuation risks; establishes and applies fair value methodologies; tests fair value methodologies; and evaluates pricing vendors and pricing agents. The duties and responsibilities of the Valuation Designee are performed by its Valuation Committee. The Valuation Designee provides periodic reporting to the Board on valuation matters.

Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:

Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at the reporting date

Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads)

Level 3 – unobservable inputs (including the Valuation Designee's assumptions in determining fair value)

Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.

#### Valuation Techniques
Equity securities, including exchange-traded funds, listed or regularly traded on a securities exchange or in the over-the-counter (OTC) market are valued at the last quoted sale price or, for certain markets, the official closing price at the time the valuations are made. A security that is listed or traded on more than one exchange is valued at the quotation on the exchange determined to be the primary market for such security. Listed securities not traded on a particular day are valued at the mean of the closing bid and asked prices for domestic securities and the last quoted sale or closing price for international securities.

------

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

The last quoted prices of non-U.S. equity securities may be adjusted to reflect the fair value of such securities at the close of the NYSE, if the Valuation Designee determines that developments between the close of a foreign market and the close of the NYSE will affect the value of some or all of the fund's portfolio securities. Each business day, the Valuation Designee uses information from outside pricing services to evaluate the quoted prices of portfolio securities and, if appropriate, decides whether it is necessary to adjust quoted prices to reflect fair value by reviewing a variety of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. The Valuation Designee uses outside pricing services to provide it with quoted prices and information to evaluate or adjust those prices. The Valuation Designee cannot predict how often it will use quoted prices or how often it will determine it necessary to adjust those prices to reflect fair value.

Investments denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate, using the mean of the bid and asked prices of such currencies against U.S. dollars as provided by an outside pricing service.

Investments in mutual funds are valued at the mutual fund's closing NAV per share on the day of valuation.

Investments for which market quotations are not readily available or deemed unreliable are valued at fair value as determined in good faith by the Valuation Designee. The Valuation Designee has adopted methodologies for determining the fair value of investments for which market quotations are not readily available or deemed unreliable, including the use of other pricing sources. Factors used in determining fair value vary by type of investment and may include market or investment specific considerations. The Valuation Designee typically will afford the greatest weight to actual prices in arm's length transactions, to the extent they represent orderly transactions between market participants, transaction information can be reliably obtained, and prices are deemed representative of fair value. However, the Valuation Designee may also consider other valuation methods such as market-based valuation multiples; a discount or premium from market value of a similar, freely traded security of the same issuer; discounted cash flows; yield to maturity; or some combination. Fair value determinations are reviewed on a regular basis. Because any fair value determination involves a significant amount of judgment, there is a degree of subjectivity inherent in such pricing decisions. Fair value prices determined by the Valuation Designee could differ from those of other market participants, and it is possible that the fair value determined for a security may be materially different from the value that could be realized upon the sale of that security.

#### Valuation Inputs
The following table summarizes the fund's financial instruments, based on the inputs used to determine their fair values on January 31, 2026 (for further detail by category, please refer to the accompanying Portfolio of Investments):

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total Value** |
| **Assets** |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$77949 | &nbsp;&nbsp;&nbsp;&nbsp;1161971 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;1239920 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25756 |
| Securities Lending Collateral | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26364 |
| Total | &nbsp;&nbsp;$130069 | &nbsp;&nbsp;$1161971 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1292040 |

---

#### OTHER MATTERS
Unpredictable environmental, political, social and economic events, including but not limited to, environmental or natural disasters, war and conflict, terrorism, geopolitical and regulatory developments (including trading and tariff arrangements), and public health epidemics or threats, may significantly affect the economy and the markets and issuers in which a fund invests. The extent and duration of such events and resulting market disruptions cannot be predicted. These and other similar events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic

------

T. ROWE PRICE INTERNATIONAL EQUITY ETF

------

regions, countries, sectors, and industries more significantly than others, and exacerbate other pre-existing political, social, and economic risks. The fund's performance could be negatively impacted if the value of a portfolio holding were harmed by these or such events.

#### ETF1076-054Q1

#### 01/26

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

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

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

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

- **b. EDGAR series identifier (if any):** S000079836

- **c. LEI of Series:** 254900HUJKWN0KWIF237

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1277561297.32

**Total Liabilities:** $45717425.45

**Net Assets:** $1231843871.87

**Cash Not Reported:** $165174.79

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241224 | 1.13%                | 2.76%                | 5.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-92188.83               | $10788288.94                               |
| Month 2  | $2697065.15              | $26208233.80                               |
| Month 3  | $1117255.26              | $59542847.51                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABN AMRO BANK NV-CVA GDR              | ABN AMRO BANK NV CVA DUTCH CERT EUR1.0                     | CUSIP: TC6CYF076<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | EC               | CORP              | NL        |    121573 | NS      | $4479143.63   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| ADYEN NV                              | ADYEN NV COMMON STOCK EUR.01                               | CUSIP: TC43C38Q9<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |      4732 | NS      | $7016816.64   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| AERCAP HOLDINGS NV                    | AERCAP HOLDINGS NV COMMON STOCK EUR.01                     | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |     33378 | NS      | $4795083.48   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA GROUP LTD                         | AIA GROUP LTD COMMON STOCK                                 | CUSIP: HK4TX8S16<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    799200 | NS      | $9220748.64   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| AIR LIQUIDE SA                        | AIR LIQUIDE SA COMMON STOCK EUR5.5                         | CUSIP: FR1YXBJ75<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     16630 | NS      | $3114170.75   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| AIRBUS SE                             | AIRBUS SE COMMON STOCK EUR1.0                              | CUSIP: 2987FR985<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |     50800 | NS      | $11630646.25  | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| AJINOMOTO CO INC                      | AJINOMOTO CO INC COMMON STOCK                              | CUSIP: 009707308<br>LEI: 353800UT0TLROREPIC92 | Long             | EC               | CORP              | JP        |    159600 | NS      | $3651143.42   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD             | ALIBABA GROUP HOLDING LTD COMMON STOCK USD.000003125       | CUSIP: TC6A7A8Z1<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    312468 | NS      | $6647311.02   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLIANZ SE-REG                        | ALLIANZ SE REG COMMON STOCK                                | CUSIP: 018999987<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      5441 | NS      | $2395789.88   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| ALSTOM                                | ALSTOM COMMON STOCK EUR7.0                                 | CUSIP: FR0DJ8Q51<br>LEI: 96950032TUYMW11FB530 | Long             | EC               | CORP              | FR        |    149502 | NS      | $4773356.14   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| AMADEUS IT GROUP SA-A SHS             | AMADEUS IT GROUP SA COMMON STOCK EUR.01                    | CUSIP: ES3MSM286<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |     46978 | NS      | $3149717.00   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| AMCOR PLC                             | AMCOR PLC COMMON STOCK USD.01                              | CUSIP: G0250X149<br>LEI: 549300GSODGFCDQ3DI89 | Long             | EC               | CORP              | JE        |     89359 | NS      | $3954135.75   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGENX SE - ADR                       | ARGENX SE   ADR ADR                                        | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      5995 | NS      | $5038797.50   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ASAHI GROUP HOLDINGS LTD              | ASAHI GROUP HOLDINGS LTD COMMON STOCK                      | CUSIP: 043JP9994<br>LEI: 353800KAJ02XNHLCJW79 | Long             | EC               | CORP              | JP        |    436700 | NS      | $4571747.22   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| ASICS CORP                            | ASICS CORP COMMON STOCK                                    | CUSIP: JP6057371<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |    150900 | NS      | $3632566.91   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM INTERNATIONAL NV                  | ASM INTERNATIONAL NV COMMON STOCK EUR.04                   | CUSIP: N070NL999<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |      8249 | NS      | $6927784.07   | 0.56%             |  |  |  | No            |                  2 | On Loan: —       |
| ASML HOLDING NV                       | ASML HOLDING NV COMMON STOCK EUR.09                        | CUSIP: N07059988<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     29862 | NS      | $42819277.30  | 3.48%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR NEDERLAND NV                      | ASR NEDERLAND NV COMMON STOCK EUR.16                       | CUSIP: TC3V5ZYG8<br>LEI: 7245000G0HS48PZWUD53 | Long             | EC               | CORP              | NL        |     24206 | NS      | $1758097.28   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| ASSA ABLOY AB-B                       | ASSA ABLOY AB B COMMON STOCK SEK1.0                        | CUSIP: 045999992<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |    111411 | NS      | $4504784.76   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| ASTRAZENECA PLC-SPONS ADR             | ASTRAZENECA PLC SPONS ADR ADR                              | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    329804 | NS      | $30595917.08  | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIVA PLC                             | AVIVA PLC COMMON STOCK GBP.3289474                         | CUSIP: 125GB9996<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |    479079 | NS      | $4176538.33   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| AXA SA                                | AXA SA COMMON STOCK EUR2.29                                | CUSIP: 054998992<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |    313638 | NS      | $14301605.13  | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARGENTA          | BANCO BILBAO VIZCAYA ARGENTA COMMON STOCK EUR.49           | CUSIP: 059458992<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |    500294 | NS      | $12699283.76  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO COMERCIAL PORTUGUES-R           | BANCO COMERCIAL PORTUGUES R COMMON STOCK                   | CUSIP: 0593PT996<br>LEI: JU1U6S0DG9YLT7N8ZV32 | Long             | EC               | CORP              | PT        |   4349230 | NS      | $4707615.01   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                    | BANCO SANTANDER SA COMMON STOCK EUR.5                      | CUSIP: 059899989<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |    559716 | NS      | $7146488.96   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                          | BARCLAYS PLC COMMON STOCK GBP.25                           | CUSIP: 06738E998<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |   2356010 | NS      | $15724172.20  | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                               | BASF SE COMMON STOCK                                       | CUSIP: 055262992<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |     91835 | NS      | $4978738.40   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| BAWAG GROUP AG                        | BAWAG GROUP AG COMMON STOCK                                | CUSIP: TC3AMXKE0<br>LEI: 529900S9YO2JHTIIDG38 | Long             | EC               | CORP              | AT        |     77943 | NS      | $12679441.62  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BAYER AG-REG                          | BAYER AG REG COMMON STOCK                                  | CUSIP: 072999998<br>LEI: 549300J4U55H3WP1XT59 | Long             | EC               | CORP              | DE        |     44846 | NS      | $2371978.66   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP GROUP LTD                         | BHP GROUP LTD COMMON STOCK                                 | CUSIP: 112169990<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |    328299 | NS      | $11329476.50  | 0.92%             |  |  |  | No            |                  2 | On Loan: —       |
| BNP PARIBAS                           | BNP PARIBAS COMMON STOCK EUR2.0                            | CUSIP: 024999997<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |     55968 | NS      | $6051955.16   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| BP PLC                                | BP PLC COMMON STOCK USD.25                                 | CUSIP: 055622997<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |   1125437 | NS      | $7135896.77   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| BRITISH AMERICAN TOBACCO PLC          | BRITISH AMERICAN TOBACCO PLC COMMON STOCK                  | CUSIP: 110GB6999<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |    135865 | NS      | $8208095.11   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| BT GROUP PLC                          | BT GROUP PLC COMMON STOCK GBP.05                           | CUSIP: GB3091351<br>LEI: 213800LRO7NS5CYQMN21 | Long             | EC               | CORP              | GB        |   2748857 | NS      | $7225426.29   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| BUNZL PLC                             | BUNZL PLC COMMON STOCK GBP.3214286                         | CUSIP: 120GB9991<br>LEI: 213800Q1Q9DV4L78UM09 | Long             | EC               | CORP              | GB        |     76829 | NS      | $2154520.73   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| CAIXABANK                             | CAIXABANK SA COMMON STOCK EUR1.0                           | CUSIP: ES283W978<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | EC               | CORP              | ES        |    296043 | NS      | $3907819.32   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| CALBEE INC                            | CALBEE INC COMMON STOCK                                    | CUSIP: JP3TBRZ83<br>LEI: 529900CIHZID6O8LJH81 | Long             | EC               | CORP              | JP        |    130498 | NS      | $2553328.68   | 0.21%             |  |  |  | No            |                  2 | On Loan: —       |
| CANADIAN NATL RAILWAY CO              | CANADIAN NATL RAILWAY CO COMMON STOCK                      | CUSIP: CA2180631<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |     89612 | NS      | $8620626.36   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| CENOVUS ENERGY INC                    | CENOVUS ENERGY INC COMMON STOCK                            | CUSIP: CA57FG046<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |    225225 | NS      | $4444457.64   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| CHUGAI PHARMACEUTICAL CO LTD          | CHUGAI PHARMACEUTICAL CO LTD COMMON STOCK                  | CUSIP: 171JP9998<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |    129200 | NS      | $7379992.52   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| CIE FINANCIERE RICHEMONT UTS A        | CIE FINANCIERE RICHEMO A REG COMMON STOCK CHF1.0           | CUSIP: 125489997<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     41102 | NS      | $7978290.11   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| COMPAGNIE DE SAINT GOBAIN             | COMPAGNIE DE SAINT GOBAIN COMMON STOCK EUR4.0              | CUSIP: 125997FR2<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |     43115 | NS      | $4255685.74   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| COMPASS GROUP PLC                     | COMPASS GROUP PLC COMMON STOCK GBP.1105                    | CUSIP: 203GB5999<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    189342 | NS      | $5677502.02   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| CVC CAPITAL PARTNERS PLC              | CVC CAPITAL PARTNERS PLC COMMON STOCK                      | CUSIP: TC4317YW0<br>LEI: 213800E8UQS1KA32YD39 | Long             | EC               | CORP              | JE        |    226868 | NS      | $4030710.64   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK HOLDING AG              | DAIMLER TRUCK HOLDING AG COMMON STOCK                      | CUSIP: TC8AUC3B7<br>LEI: 529900PW78JIYOUBSR24 | Long             | EC               | CORP              | DE        |     93481 | NS      | $4526250.31   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| DASSAULT AVIATION SA                  | DASSAULT AVIATION SA COMMON STOCK EUR.8                    | CUSIP: FR4067166<br>LEI: 969500CVFTUT88V8QN95 | Long             | EC               | CORP              | FR        |     27626 | NS      | $10502710.73  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS GROUP HOLDINGS LTD                | DBS GROUP HOLDINGS LTD COMMON STOCK                        | CUSIP: 251SG9983<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |    113950 | NS      | $5296664.28   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| DESCARTES SYSTEMS GRP/THE             | DESCARTES SYSTEMS GRP/THE COMMON STOCK                     | CUSIP: CA2141948<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |     45959 | NS      | $3432284.88   | 0.28%             |  |  |  | No            |                  2 | On Loan: —       |
| DEUTSCHE TELEKOM AG-REG               | DEUTSCHE TELEKOM AG REG COMMON STOCK                       | CUSIP: 251566998<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |    386082 | NS      | $12956237.59  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| DHL GROUP                             | DHL GROUP COMMON STOCK                                     | CUSIP: 251DE7990<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |     64274 | NS      | $3594746.48   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| DISCO CORP                            | DISCO CORP COMMON STOCK                                    | CUSIP: 0024JP997<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      6590 | NS      | $2808991.44   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| DOWNER EDI LTD                        | DOWNER EDI LTD COMMON STOCK                                | CUSIP: 2610AU981<br>LEI: 254900DIW3F7OMWAO951 | Long             | EC               | CORP              | AU        |   1292659 | NS      | $7208676.73   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| ELEMENT FLEET MANAGEMENT CORP         | ELEMENT FLEET MANAGEMENT COR COMMON STOCK                  | CUSIP: CA7FNMQ20<br>LEI: 5493000PGBS1C22ELQ16 | Long             | EC               | CORP              | CA        |    219382 | NS      | $5558461.43   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEL SPA                              | ENEL SPA COMMON STOCK EUR1.0                               | CUSIP: 29265W991<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |   1194560 | NS      | $13198152.51  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| ENGIE                                 | ENGIE COMMON STOCK EUR1.0                                  | CUSIP: FR0V2CQ35<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |    185279 | NS      | $5531765.19   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| ERICSSON LM-B SHS                     | ERICSSON LM B SHS COMMON STOCK SEK5.0                      | CUSIP: 294821988<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |    674069 | NS      | $7300277.07   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| ERSTE GROUP BANK AG                   | ERSTE GROUP BANK AG COMMON STOCK                           | CUSIP: 2969AT992<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |     31728 | NS      | $4124922.40   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| ESSILORLUXOTTICA                      | ESSILORLUXOTTICA COMMON STOCK EUR.18                       | CUSIP: 297FR9993<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |      9485 | NS      | $2899525.04   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| ESSITY AKTIEBOLAG-B SHS               | ESSITY AKTIEBOLAG B COMMON STOCK SEK3.35                   | CUSIP: TC7DEEAD4<br>LEI: 549300G8E6YUVJ1DA153 | Long             | EC               | CORP              | SE        |    326754 | NS      | $9674744.20   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| EUROFINS SCIENTIFIC                   | EUROFINS SCIENTIFIC COMMON STOCK EUR.1                     | CUSIP: FR5972646<br>LEI: 529900JEHFM47DYY3S57 | Long             | EC               | CORP              | LU        |     57486 | NS      | $4650213.41   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| FERRARI NV                            | FERRARI NV COMMON STOCK EUR.01                             | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |     11604 | NS      | $3870465.43   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| FOOD & LIFE COMPANIES LTD             | FOOD + LIFE COMPANIES LTD COMMON STOCK                     | CUSIP: TC0FDLV71<br>LEI: 529900CWF7GCVZKS5M87 | Long             | EC               | CORP              | JP        |     71600 | NS      | $3911505.03   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| FUJITSU LIMITED                       | FUJITSU LIMITED COMMON STOCK                               | CUSIP: 359590999<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |    172700 | NS      | $4798604.66   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| GALAXY ENTERTAINMENT GROUP LTD        | GALAXY ENTERTAINMENT GROUP L COMMON STOCK                  | CUSIP: HK6465874<br>LEI: 549300ZSEBV3HR826S10 | Long             | EC               | CORP              | HK        |    396000 | NS      | $2011981.96   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| GALP ENERGIA SGPS SA                  | GALP ENERGIA SGPS SA COMMON STOCK EUR1.0                   | CUSIP: PT1FW7519<br>LEI: 2138003319Y7NM75FG53 | Long             | EC               | CORP              | PT        |    392487 | NS      | $7809560.51   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERALI                              | GENERALI COMMON STOCK                                      | CUSIP: 045429982<br>LEI: 549300X5UKJVE386ZB61 | Long             | EC               | CORP              | IT        |    271971 | NS      | $11093800.87  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| GREAT-WEST LIFECO INC                 | GREAT WEST LIFECO INC COMMON STOCK                         | CUSIP: CA2384951<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |     85507 | NS      | $4002655.73   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK PLC-SPON ADR                      | GSK PLC SPON ADR ADR                                       | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |    141847 | NS      | $7319305.20   | 0.59%             |  |  |  | No            |                  1 | On Loan: —       |
| HEIDELBERG MATERIALS AG               | HEIDELBERG MATERIALS AG COMMON STOCK                       | CUSIP: 422DE9990<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |     33658 | NS      | $9217936.14   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| HIKARI TSUSHIN INC                    | HIKARI TSUSHIN INC COMMON STOCK                            | CUSIP: 430JP9995<br>LEI: 3538001SOIIV8U3OXH94 | Long             | EC               | CORP              | JP        |      8500 | NS      | $2347540.45   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| HITACHI LTD                           | HITACHI LTD COMMON STOCK                                   | CUSIP: 433578994<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |    361700 | NS      | $12551029.16  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                     | HSBC HOLDINGS PLC COMMON STOCK USD.5                       | CUSIP: 404278988<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |    717171 | NS      | $12651560.34  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HYUNDAI MOTOR CO                      | HYUNDAI MOTOR CO COMMON STOCK KRW5000.0                    | CUSIP: 4491KR998<br>LEI: 9884004RQX8PRBXQ8S60 | Long             | EC               | CORP              | KR        |     13244 | NS      | $4610308.72   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| IBERDROLA SA - INT                    | IBERDROLA S A COMMON STOCK                                 | CUSIP: TC6XK0KW1<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |      1823 | NS      | $40902.87     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| IBERDROLA SA                          | IBERDROLA SA COMMON STOCK EUR.75                           | CUSIP: 450ES9998<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |    139694 | NS      | $3140704.15   | 0.25%             |  |  |  | No            |                  2 | On Loan: —       |
| ICICI BANK LTD-SPON ADR               | ICICI BANK LTD SPON ADR ADR                                | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    105135 | NS      | $3079404.15   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                   | IMPERIAL BRANDS PLC COMMON STOCK GBP.1                     | CUSIP: 453142994<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |    335972 | NS      | $14150396.41  | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| INFINEON TECHNOLOGIES AG              | INFINEON TECHNOLOGIES AG COMMON STOCK                      | CUSIP: 456DE9981<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     58410 | NS      | $2855226.12   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| INFORMA PLC                           | INFORMA PLC COMMON STOCK GBP.001                           | CUSIP: 456GB8997<br>LEI: 5493006VM2LKUPSEDU20 | Long             | EC               | CORP              | GB        |    228871 | NS      | $2761973.30   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ING GROEP NV CVA NLG1                 | ING GROEP NV COMMON STOCK EUR.01                           | CUSIP: 449999994<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |    495436 | NS      | $14610851.51  | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| ISETAN MITSUKOSHI HOLDINGS L          | ISETAN MITSUKOSHI HOLDINGS L COMMON STOCK                  | CUSIP: JP2Q4CL45<br>LEI: 529900SY5RZO92EFG035 | Long             | EC               | CORP              | JP        |    259600 | NS      | $4166208.58   | 0.34%             |  |  |  | No            |                  2 | On Loan: —       |
| JERONIMO MARTINS                      | JERONIMO MARTINS COMMON STOCK EUR1.0                       | CUSIP: 476PT9992<br>LEI: 259400A8SZP10GB5IB19 | Long             | EC               | CORP              | PT        |    204731 | NS      | $4827772.21   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| JULIUS BAER GROUP LTD                 | JULIUS BAER GROUP LTD COMMON STOCK CHF.02                  | CUSIP: CH4R2R501<br>LEI: 5299007MF0604ZGJER92 | Long             | EC               | CORP              | CH        |     37286 | NS      | $3114510.12   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| KDDI CORP                             | KDDI CORP COMMON STOCK                                     | CUSIP: 233JPY999<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |    416800 | NS      | $7037241.18   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| KEYENCE CORP                          | KEYENCE CORP COMMON STOCK                                  | CUSIP: 4930JP991<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |      9000 | NS      | $3301743.28   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| KINGSPAN GROUP PLC                    | KINGSPAN GROUP PLC COMMON STOCK EUR.13                     | CUSIP: IE4491230<br>LEI: 635400HM7V74SUB9OG75 | Long             | EC               | CORP              | IE        |     36733 | NS      | $3198510.45   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| KION GROUP AG                         | KION GROUP AG COMMON STOCK                                 | CUSIP: TC7KY3GH5<br>LEI: 5299005KY91C4C6U9H17 | Long             | EC               | CORP              | DE        |     51863 | NS      | $3663332.93   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| KOMATSU LTD                           | KOMATSU LTD COMMON STOCK                                   | CUSIP: 500458997<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |    105200 | NS      | $4026549.88   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| KONINKLIJKE AHOLD DELHAIZE NV         | KONINKLIJKE AHOLD DELHAIZE N COMMON STOCK EUR.01           | CUSIP: NL5252605<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     59642 | NS      | $2332010.66   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| KONINKLIJKE KPN NV                    | KONINKLIJKE KPN NV COMMON STOCK EUR.04                     | CUSIP: 500NL9995<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |    804977 | NS      | $3942384.77   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| KONINKLIJKE PHILIPS NV                | KONINKLIJKE PHILIPS NV COMMON STOCK EUR.2                  | CUSIP: 718NL9985<br>LEI: H1FJE8H61JGM1JSGM897 | Long             | EC               | CORP              | NL        |    171976 | NS      | $4938429.74   | 0.40%             |  |  |  | No            |                  2 | On Loan: —       |
| KT CORP-SP ADR                        | KT CORP SP ADR ADR                                         | CUSIP: 48268K101<br>LEI: 9884005ACF8449EANY26 | Long             | EC               | CORP              | KR        |    219776 | NS      | $4597713.92   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| KYUSHU RAILWAY COMPANY                | KYUSHU RAILWAY COMPANY COMMON STOCK                        | CUSIP: TC8QEDDL5<br>LEI: 5299002CCI6HLWAN3K50 | Long             | EC               | CORP              | JP        |    152700 | NS      | $3888580.96   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| LEGRAND SA                            | LEGRAND SA COMMON STOCK EUR4.0                             | CUSIP: FR11ZRK94<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |     35107 | NS      | $5605107.05   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| LEONARDO SPA                          | LEONARDO SPA COMMON STOCK                                  | CUSIP: 3180IT997<br>LEI: 529900X4EEX1U9LN3U39 | Long             | EC               | CORP              | IT        |    126076 | NS      | $8425231.32   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC              | LLOYDS BANKING GROUP PLC COMMON STOCK GBP.1                | CUSIP: 539GB9996<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |   4305797 | NS      | $6429433.68   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON SE   | LVMH MOET HENNESSY LOUIS VUI COMMON STOCK EUR.3            | CUSIP: FR4061417<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |     14952 | NS      | $9650084.67   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| MAGNUM ICE CREAM CO NV/THE            | MAGNUM ICE CREAM CO NV/THE COMMON STOCK EUR3.5             | CUSIP: TC5JSKAL6<br>LEI: 25490052LLF3XH6G9847 | Long             | EC               | CORP              | NL        |     54181 | NS      | $961948.20    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| MATSUKIYOCOCOKARA & CO                | MATSUKIYOCOCOKARA + CO COMMON STOCK                        | CUSIP: JP249GC08<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    190700 | NS      | $3054795.56   | 0.25%             |  |  |  | No            |                  2 | On Loan: —       |
| MERCADOLIBRE INC                      | MERCADOLIBRE INC COMMON STOCK USD.001                      | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      2230 | NS      | $4789571.70   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI CHEMICAL GROUP CORP        | MITSUBISHI CHEMICAL GROUP CO COMMON STOCK                  | CUSIP: JP0JQTJ03<br>LEI: 353800YNKX4RQUGAR072 | Long             | EC               | CORP              | JP        |    497800 | NS      | $3286575.06   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| MITSUBISHI ELECTRIC CORP              | MITSUBISHI ELECTRIC CORP COMMON STOCK                      | CUSIP: 606776995<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |    261400 | NS      | $8171858.31   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| MITSUBISHI ESTATE CO LTD              | MITSUBISHI ESTATE CO LTD COMMON STOCK                      | CUSIP: 606783991<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |    411000 | NS      | $10474710.63  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FINANCIAL GRO          | MITSUBISHI UFJ FINANCIAL GRO COMMON STOCK                  | CUSIP: 6070JP994<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    820600 | NS      | $14861356.60  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| MITSUI FUDOSAN CO LTD                 | MITSUI FUDOSAN CO LTD COMMON STOCK                         | CUSIP: 606827988<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |    378300 | NS      | $4337928.95   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| MS&AD INSURANCE GROUP HOLDINGS INC    | MS+AD INSURANCE GROUP HOLDIN COMMON STOCK                  | CUSIP: JP2Q4CS14<br>LEI: 529900CXROT5S2HMMP26 | Long             | EC               | CORP              | JP        |    309300 | NS      | $7880209.67   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL GRID PLC                     | NATIONAL GRID PLC COMMON STOCK GBP.1243129                 | CUSIP: 636274995<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |    409240 | NS      | $6952803.41   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| NESTLE SA-REG                         | NESTLE SA REG COMMON STOCK CHF.1                           | CUSIP: 641069976<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     52163 | NS      | $4977733.20   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| NINTENDO CO LTD                       | NINTENDO CO LTD COMMON STOCK                               | CUSIP: 654JP9994<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |     18300 | NS      | $1133236.77   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON SANSO HOLDINGS CORP            | NIPPON SANSO HOLDINGS CORP COMMON STOCK                    | CUSIP: 653JP9995<br>LEI: 353800F1K6653B4VPY57 | Long             | EC               | CORP              | JP        |    190400 | NS      | $5777333.39   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON STEEL CORP                     | NIPPON STEEL CORP COMMON STOCK                             | CUSIP: 653JP6991<br>LEI: 35380065QWQ4U2V3PA33 | Long             | EC               | CORP              | JP        |   1274500 | NS      | $5310908.38   | 0.43%             |  |  |  | No            |                  2 | On Loan: —       |
| NOVARTIS AG-REG                       | NOVARTIS AG REG COMMON STOCK CHF.49                        | CUSIP: 6699999Z9<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     71286 | NS      | $10576687.64  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVO NORDISK A/S-B                    | NOVO NORDISK A/S B COMMON STOCK DKK.1                      | CUSIP: 670100973<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |    192668 | NS      | $11440475.81  | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| OLYMPUS CORP                          | OLYMPUS CORP COMMON STOCK                                  | CUSIP: 681JP9991<br>LEI: 5299000Y52IFDI1I2A21 | Long             | EC               | CORP              | JP        |    267622 | NS      | $3196612.21   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| OMV AG                                | OMV AG COMMON STOCK                                        | CUSIP: 670875996<br>LEI: 549300V62YJ9HTLRI486 | Long             | EC               | CORP              | AT        |    109276 | NS      | $6491838.65   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| ORIX CORP                             | ORIX CORP COMMON STOCK                                     | CUSIP: 686999996<br>LEI: 35380016EMHNBOVYE123 | Long             | EC               | CORP              | JP        |    320200 | NS      | $9758220.39   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| ORSTED A/S                            | ORSTED A/S COMMON STOCK DKK10.0                            | CUSIP: TC0IS2GS2<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | EC               | CORP              | DK        |    173724 | NS      | $3907966.40   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| OTP BANK PLC                          | OTP BANK PLC COMMON STOCK HUF100.0                         | CUSIP: 6710HU996<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |     55727 | NS      | $7012237.58   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| PARTNERS GROUP HOLDING AG             | PARTNERS GROUP HOLDING AG COMMON STOCK CHF.01              | CUSIP: CH119QG04<br>LEI: 549300I3IVVWZWDHI788 | Long             | EC               | CORP              | CH        |      2155 | NS      | $2938437.22   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| POSTE ITALIANE SPA                    | POSTE ITALIANE SPA COMMON STOCK EUR1.0                     | CUSIP: TC3AVDMC6<br>LEI: 815600354DEDBD0BA991 | Long             | EC               | CORP              | IT        |     94239 | NS      | $2482081.20   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| PROSUS                                | PROSUS NV COMMON STOCK EUR.05                              | CUSIP: TC33K9NH1<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |    216257 | NS      | $12435046.53  | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PRUDENTIAL PLC                        | PRUDENTIAL PLC COMMON STOCK GBP.05                         | CUSIP: 744GB9997<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |    497257 | NS      | $8167568.72   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| QANTAS AIRWAYS LTD                    | QANTAS AIRWAYS LTD COMMON STOCK                            | CUSIP: 74726M992<br>LEI: YLXNW6TI6QSK1H8H0N82 | Long             | EC               | CORP              | AU        |    374773 | NS      | $2620274.36   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| QIAGEN N.V.                           | QIAGEN N.V. COMMON STOCK EUR.01                            | CUSIP: N72482156<br>LEI: 54930036WK3GMCN17Z57 | Long             | EC               | CORP              | NL        |     89332 | NS      | $4736328.81   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| RECRUIT HOLDINGS CO LTD               | RECRUIT HOLDINGS CO LTD COMMON STOCK                       | CUSIP: TC3Z2O7W2<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |    160100 | NS      | $8433069.29   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PLC                              | RELX PLC COMMON STOCK GBP.00144397                         | CUSIP: 758GB9990<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |     88997 | NS      | $3155123.13   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| RENESAS ELECTRONICS CORP              | RENESAS ELECTRONICS CORP COMMON STOCK                      | CUSIP: 639999978<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |   1051300 | NS      | $17478339.16  | 1.42%             |  |  |  | No            |                  2 | On Loan: —       |
| RESONA HOLDINGS INC                   | RESONA HOLDINGS INC COMMON STOCK                           | CUSIP: 2349JP996<br>LEI: 52990067JE75XZCYYT81 | Long             | EC               | CORP              | JP        |    480100 | NS      | $5598026.38   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCHE HOLDING AG-GENUSSCHEIN          | ROCHE HOLDING AG GENUSSCHEIN COMMON STOCK                  | CUSIP: 771195997<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     42130 | NS      | $19158177.78  | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE HOLDINGS PLC              | ROLLS ROYCE HOLDINGS PLC COMMON STOCK GBP.2                | CUSIP: 775781990<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |   1478489 | NS      | $24715862.94  | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RYANAIR HOLDINGS PLC                  | RYANAIR HOLDINGS PLC COMMON STOCK EUR.006                  | CUSIP: 7835IE995<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |    279274 | NS      | $9478374.17   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| SAFRAN SA                             | SAFRAN SA COMMON STOCK EUR.2                               | CUSIP: 786FR9991<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     21785 | NS      | $7783587.69   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMPO OYJ-A SHS                       | SAMPO OYJ A SHS COMMON STOCK                               | CUSIP: 795FI9990<br>LEI: 743700UF3RL386WIDA22 | Long             | EC               | CORP              | FI        |    299514 | NS      | $3340270.58   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD            | SAMSUNG ELECTRONICS CO LTD COMMON STOCK KRW100.0           | CUSIP: 796050979<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     92761 | NS      | $10247744.80  | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| SANOFI                                | SANOFI COMMON STOCK EUR2.0                                 | CUSIP: 801106980<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     85837 | NS      | $8096458.35   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                | SAP SE COMMON STOCK                                        | CUSIP: 803054998<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     52213 | NS      | $10430505.82  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| SARTORIUS STEDIM BIOTECH              | SARTORIUS STEDIM BIOTECH COMMON STOCK EUR.2                | CUSIP: FR0BQFY52<br>LEI: 52990006IVXY7GCSSR39 | Long             | EC               | CORP              | FR        |     23709 | NS      | $5298198.61   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| SCHNEIDER ELECTRIC SE                 | SCHNEIDER ELECTRIC SE COMMON STOCK EUR4.0                  | CUSIP: 806999983<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     17961 | NS      | $5149451.66   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| SEA LTD ADR                           | SEA LTD ADR ADR USD.0005                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |     37808 | NS      | $4404253.92   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SEGRO PLC                             | SEGRO PLC REIT GBP.1                                       | CUSIP: 831GB9991<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |    614091 | NS      | $6397954.37   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| SEVEN & I HOLDINGS CO LTD             | SEVEN + I HOLDINGS CO LTD COMMON STOCK                     | CUSIP: JP0FS5D64<br>LEI: 52990037G8JRM3TWGY86 | Long             | EC               | CORP              | JP        |    608900 | NS      | $8719811.34   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| SHELL PLC                             | SHELL PLC COMMON STOCK EUR.07                              | CUSIP: TC9XVQT42<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    213969 | NS      | $8224860.59   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| SHENZHOU INTERNATIONAL GROUP          | SHENZHOU INTERNATIONAL GROUP COMMON STOCK HKD.1            | CUSIP: HK0MP1B09<br>LEI: 529900B4W41TCUKJFM73 | Long             | EC               | CORP              | KY        |    171700 | NS      | $1365591.24   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| SHIMIZU CORP                          | SHIMIZU CORP COMMON STOCK                                  | CUSIP: 824JP8991<br>LEI: 353800BRAE0QFP3ZLY22 | Long             | EC               | CORP              | JP        |    252000 | NS      | $4475246.37   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| SHIN-ETSU CHEMICAL CO LTD             | SHIN ETSU CHEMICAL CO LTD COMMON STOCK                     | CUSIP: 824999999<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |    209218 | NS      | $6880041.66   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| SHOPIFY INC - CLASS A                 | SHOPIFY INC   CLASS A COMMON STOCK                         | CUSIP: TC4NOTA17<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     34010 | NS      | $4462649.51   | 0.36%             |  |  |  | No            |                  2 | On Loan: —       |
| SIEMENS AG-REG                        | SIEMENS AG REG COMMON STOCK                                | CUSIP: 82619R994<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     55988 | NS      | $16926858.55  | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| SIEMENS ENERGY AG                     | SIEMENS ENERGY AG COMMON STOCK                             | CUSIP: TC4I2XD85<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     45584 | NS      | $7766602.81   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| SIEMENS HEALTHINEERS AG               | SIEMENS HEALTHINEERS AG COMMON STOCK                       | CUSIP: TC9YZQKU7<br>LEI: 529900QBVWXMWANH7H45 | Long             | EC               | CORP              | DE        |    145835 | NS      | $7279129.44   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| SMITHS GROUP PLC                      | SMITHS GROUP PLC COMMON STOCK GBP.375                      | CUSIP: 833GB9999<br>LEI: 213800MJL6IPZS3ASA11 | Long             | EC               | CORP              | GB        |     74687 | NS      | $2564887.16   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA                   | SOCIETE GENERALE SA COMMON STOCK EUR1.25                   | CUSIP: FR5966515<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |    154158 | NS      | $13508778.41  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                   | SOFTBANK GROUP CORP COMMON STOCK                           | CUSIP: 834999997<br>LEI: 5493003BZYYYCDIO0R13 | Long             | EC               | CORP              | JP        |    118600 | NS      | $3238656.14   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| SONY GROUP CORP                       | SONY GROUP CORP COMMON STOCK                               | CUSIP: 835699992<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    525000 | NS      | $11575151.10  | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| SPOTIFY TECHNOLOGY SA                 | SPOTIFY TECHNOLOGY SA COMMON STOCK EUR.000625              | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |      9577 | NS      | $4791851.95   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                               | SSE PLC COMMON STOCK GBP.5                                 | CUSIP: 810GB7990<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |    124715 | NS      | $4145209.24   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                | STANDARD CHARTERED PLC COMMON STOCK USD.5                  | CUSIP: 853GB9994<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |    381245 | NS      | $9754698.96   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET INS US GO MM FD-IS       | STATE STREET INSTITUTIONAL US STATE ST INST US GOV MM PREM | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  25756017 | NS      | $25756016.83  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| STORA ENSO OYJ-R SHS                  | STORA ENSO OYJ R SHS COMMON STOCK EUR1.7                   | CUSIP: 86210M999<br>LEI: 7437000ZP669LKUTZ738 | Long             | EC               | CORP              | FI        |    258911 | NS      | $2980580.03   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| SUMITOMO CORP                         | SUMITOMO CORP COMMON STOCK                                 | CUSIP: 865JP8991<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |    192400 | NS      | $7813189.26   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI TRUST GROUP INC       | SUMITOMO MITSUI TRUST GROUP COMMON STOCK                   | CUSIP: JP6432897<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |    124500 | NS      | $4158148.88   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| SUNCOR ENERGY INC                     | SUNCOR ENERGY INC COMMON STOCK                             | CUSIP: 867224107<br>LEI: 894500XO86FKXQGPYV71 | Long             | EC               | CORP              | CA        |     67135 | NS      | $3556140.95   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund - Collateral         | CUSIP: 76105YYY9<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |  26309908 | NS      | $26309908.50  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIHEIYO CEMENT CORP                  | TAIHEIYO CEMENT CORP COMMON STOCK                          | CUSIP: 874JP6994<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    198600 | NS      | $5457399.53   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MANUFAC          | TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK TWD10.0          | CUSIP: 874039993<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    138000 | NS      | $7630834.65   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL CO LTD          | TAKEDA PHARMACEUTICAL CO LTD COMMON STOCK                  | CUSIP: 874099997<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |    286700 | NS      | $9759183.14   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| TAYLOR WIMPEY PLC                     | TAYLOR WIMPEY PLC COMMON STOCK GBP.01                      | CUSIP: 877GB9996<br>LEI: 21380089BTRXTD8S3R66 | Long             | EC               | CORP              | GB        |   1513593 | NS      | $2212813.25   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| TECHTRONIC INDUSTRIES CO LTD          | TECHTRONIC INDUSTRIES CO LTD COMMON STOCK                  | CUSIP: 8790HK998<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |    136500 | NS      | $1863429.40   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| TMX GROUP LTD                         | TMX GROUP LTD COMMON STOCK                                 | CUSIP: CA8KH5G72<br>LEI: 549300N65GFVKSHGJW59 | Long             | EC               | CORP              | CA        |     62012 | NS      | $2289386.58   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| TOKYO ELECTRON LTD                    | TOKYO ELECTRON LTD COMMON STOCK                            | CUSIP: 889998993<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |      7400 | NS      | $1971795.43   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| TOTALENERGIES SE                      | TOTALENERGIES SE COMMON STOCK EUR2.5                       | CUSIP: 89150A991<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    169502 | NS      | $12327657.82  | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORP                     | TOYOTA MOTOR CORP COMMON STOCK                             | CUSIP: 892331315<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |    546600 | NS      | $12388955.08  | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UCB SA                                | UCB SA COMMON STOCK                                        | CUSIP: 902BE9993<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |      8091 | NS      | $2465533.61   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| UNICHARM CORP                         | UNICHARM CORP COMMON STOCK                                 | CUSIP: 904998101<br>LEI: 353800UQ4BZIJTAQEG85 | Long             | EC               | CORP              | JP        |    294200 | NS      | $1786733.76   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                         | UNICREDIT SPA COMMON STOCK                                 | CUSIP: 904IT9990<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |    271324 | NS      | $23644808.24  | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| UNILEVER PLC                          | UNILEVER PLC COMMON STOCK GBP.00031111                     | CUSIP: 904767993<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    240832 | NS      | $16383652.59  | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED OVERSEAS BANK LTD              | UNITED OVERSEAS BANK LTD COMMON STOCK                      | CUSIP: 9112SG991<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |    160393 | NS      | $4834106.45   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| UPM-KYMMENE OYJ                       | UPM KYMMENE OYJ COMMON STOCK                               | CUSIP: 915436992<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |    114972 | NS      | $3171861.96   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| VINCI SA                              | VINCI SA COMMON STOCK EUR2.5                               | CUSIP: 927FR9991<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |     58403 | NS      | $8397452.25   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| WAREHOUSES DE PAUW SCA                | WAREHOUSES DE PAUW SCA REIT                                | CUSIP: BE5710361<br>LEI: 549300HWDYC5JXC85138 | Long             | EC               | CORP              | BE        |    138946 | NS      | $3937122.85   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                  | WESTPAC BANKING CORP COMMON STOCK                          | CUSIP: 955999990<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | EC               | CORP              | AU        |    114760 | NS      | $3083497.21   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| WISE PLC - A                          | WISE PLC   A COMMON STOCK GBP.01                           | CUSIP: TC3QWY4P5<br>LEI: 213800LD9XCHIC1C4V71 | Long             | EC               | CORP              | GB        |    149004 | NS      | $1921814.31   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-03

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President