# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001795351-25-000525
**Filing Date:** 2025-8
**Character Count:** 24950
**Document Hash:** 0c4758041dcc1705a76c031cfeae5ff2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001795351-25-000525.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001795351-25-000525

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 251257013

**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 Financials ETF (Series ID: S000092021)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000259931 | T. Rowe Price Financials ETF | TFNS            |

## 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 Financials ETF

- **b. EDGAR series identifier (if any):** S000092021

- **c. LEI of Series:** 254900XY0Z2IDV06WD97

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

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

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $10276645.04

**Total Liabilities:** $2282.94

**Net Assets:** $10274362.10

**Cash Not Reported:** $24920.58

**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 C000259931 |  |  | 2.76%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $-571.54                 | $270591.93                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Affiliated Managers Group Inc        | AFFILIATED MANAGERS GROUP COMMON STOCK USD.01       | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |        91 | NS      | $17906.07     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The                    | ALLSTATE CORP COMMON STOCK USD.01                   | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      1043 | NS      | $209966.33    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                  | AMERICAN EXPRESS CO COMMON STOCK USD.2              | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       574 | NS      | $183094.52    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc     | AMERICAN INTERNATIONAL GROUP COMMON STOCK USD2.5    | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      1606 | NS      | $137457.54    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management Inc         | APOLLO GLOBAL MANAGEMENT INC COMMON STOCK USD.0001  | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |       936 | NS      | $132790.32    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp                 | ARES MANAGEMENT CORP   A COMMON STOCK               | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |       276 | NS      | $47803.20     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                 | BANK OF AMERICA CORP COMMON STOCK USD.01            | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     10955 | NS      | $518390.60    | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/The     | BANK OF NEW YORK MELLON CORP COMMON STOCK USD.01    | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |       297 | NS      | $27059.67     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc               | BERKSHIRE HATHAWAY INC CL B COMMON STOCK USD.0033   | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      2161 | NS      | $1049748.97   | 10.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                       | BLACKSTONE INC COMMON STOCK USD.00001               | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |       102 | NS      | $15257.16     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                        | BLACKROCK INC COMMON STOCK USD.01                   | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |       154 | NS      | $161584.50    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc              | CBOE GLOBAL MARKETS INC COMMON STOCK                | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |       204 | NS      | $47574.84     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                        | CME GROUP INC COMMON STOCK USD.01                   | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       439 | NS      | $120997.18    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp           | CAPITAL ONE FINANCIAL CORP COMMON STOCK USD.01      | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      1256 | NS      | $267226.56    | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                        | CITIGROUP INC COMMON STOCK USD.01                   | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      5579 | NS      | $474884.48    | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc          | COLUMBIA BANKING SYSTEM INC COMMON STOCK            | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1057 | NS      | $24712.66     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc             | COREBRIDGE FINANCIAL INC COMMON STOCK USD.01        | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |      1938 | NS      | $68799.00     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay Inc                           | CORPAY INC COMMON STOCK USD.001                     | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |       355 | NS      | $117796.10    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                | EAST WEST BANCORP INC COMMON STOCK USD.001          | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       701 | NS      | $70786.98     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc               | EQUITABLE HOLDINGS INC COMMON STOCK USD.01          | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |       877 | NS      | $49199.70     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                           | FISERV INC COMMON STOCK USD.01                      | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |       630 | NS      | $108618.30    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                  | GLOBAL PAYMENTS INC COMMON STOCK                    | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |      1031 | NS      | $82521.24     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The          | GOLDMAN SACHS GROUP INC COMMON STOCK USD.01         | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       479 | NS      | $339012.25    | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Great-West Lifeco Inc                | GREAT WEST LIFECO INC COMMON STOCK                  | CUSIP: 39138C106<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |      1324 | NS      | $50354.29     | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Hartford Insurance Group Inc/The     | HARTFORD INSURANCE GROUP INC COMMON STOCK USD.01    | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      1145 | NS      | $145266.15    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc        | INTERCONTINENTAL EXCHANGE IN COMMON STOCK USD.01    | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |       945 | NS      | $173379.15    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                  | JPMORGAN CHASE + CO COMMON STOCK USD1.0             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1828 | NS      | $529955.48    | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                         | KKR + CO INC COMMON STOCK USD.01                    | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |      1125 | NS      | $149658.75    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc           | LPL FINANCIAL HOLDINGS INC COMMON STOCK             | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |        62 | NS      | $23248.14     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc             | MARSH + MCLENNAN COS COMMON STOCK USD1.0            | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |       909 | NS      | $198743.76    | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                       | MASTERCARD INC   A COMMON STOCK USD.0001            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1085 | NS      | $609704.90    | 5.93%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                          | METLIFE INC COMMON STOCK USD.01                     | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |      1364 | NS      | $109692.88    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody s Corp                         | MOODY S CORP COMMON STOCK USD.01                    | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |        47 | NS      | $23574.73     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                       | MORGAN STANLEY COMMON STOCK USD.01                  | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1753 | NS      | $246927.58    | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc/The | PNC FINANCIAL SERVICES GROUP COMMON STOCK USD5.0    | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |       436 | NS      | $81279.12     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                  | PAYPAL HOLDINGS INC COMMON STOCK                    | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      1885 | NS      | $140093.20    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Financial Services Inc      | PENNYMAC FINANCIAL SERVICES COMMON STOCK USD.0001   | CUSIP: 70932M107<br>LEI: 549300W1D516HBDEU871 | Long             | EC               | CORP              | US        |       213 | NS      | $21223.32     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                          | POPULAR INC COMMON STOCK USD.01                     | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |       553 | NS      | $60946.13     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                 | PROGRESSIVE CORP COMMON STOCK USD1.0                | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       465 | NS      | $124089.90    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp               | REGIONS FINANCIAL CORP COMMON STOCK USD.01          | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      3090 | NS      | $72676.80     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                       | S+P GLOBAL INC COMMON STOCK USD1.0                  | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       404 | NS      | $213025.16    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                             | SLM CORP COMMON STOCK USD.2                         | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1579 | NS      | $51775.41     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The              | SCHWAB (CHARLES) CORP COMMON STOCK USD.01           | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      4225 | NS      | $385489.00    | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| SoFi Technologies Inc                | SOFI TECHNOLOGIES INC COMMON STOCK USD.0001         | CUSIP: 83406F102<br>LEI: 549300SW81JCMVZDDY09 | Long             | EC               | CORP              | US        |      1505 | NS      | $27406.05     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                            | BLOCK INC COMMON STOCK USD.0000001                  | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |       481 | NS      | $32674.33     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp                    | STATE STREET CORP COMMON STOCK USD1.0               | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      1257 | NS      | $133669.38    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc                  | STEPSTONE GROUP INC CLASS A COMMON STOCK USD.001    | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       857 | NS      | $47563.50     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp               | SYNOVUS FINANCIAL CORP COMMON STOCK USD1.0          | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |      1079 | NS      | $55838.25     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                  | SYNCHRONY FINANCIAL COMMON STOCK USD.001            | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |       908 | NS      | $60599.92     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The                | TRAVELERS COS INC/THE COMMON STOCK                  | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       112 | NS      | $29964.48     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                   | UMB FINANCIAL CORP COMMON STOCK USD1.0              | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |       420 | NS      | $44167.20     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                           | US BANCORP COMMON STOCK USD.01                      | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |      3410 | NS      | $154302.50    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                             | VISA INC CLASS A SHARES COMMON STOCK USD.0001       | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2287 | NS      | $811999.35    | 7.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                   | VOYA FINANCIAL INC COMMON STOCK USD.01              | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |       937 | NS      | $66527.00     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp               | WEBSTER FINANCIAL CORP COMMON STOCK USD.01          | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |      1720 | NS      | $93912.00     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                     | WELLS FARGO + CO COMMON STOCK USD1.666              | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      4291 | NS      | $343794.92    | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp             | WESTERN ALLIANCE BANCORP COMMON STOCK USD.0001      | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      1029 | NS      | $80241.42     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd            | AXIS CAPITAL HOLDINGS LTD COMMON STOCK USD.0125     | CUSIP: G0692U109<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |       923 | NS      | $95825.86     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ltd                          | INVESCO LTD COMMON STOCK USD.2                      | CUSIP: G491BT108<br>LEI: ECPGFXU8A2SHKVVGJI15 | Long             | EC               | CORP              | BM        |      1781 | NS      | $28086.37     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd           | RENAISSANCERE HOLDINGS LTD COMMON STOCK USD1.0      | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |       414 | NS      | $100560.60    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson PLC             | WILLIS TOWERS WATSON PLC COMMON STOCK USD.000304635 | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |       224 | NS      | $68656.00     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                            | CHUBB LTD COMMON STOCK                              | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |       994 | NS      | $287981.68    | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-04

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President