# EDGAR Filing Document

**Accession Number:** 0001727074
**File Stem:** 0001752724-25-182153
**Filing Date:** 2025-7
**Character Count:** 399379
**Document Hash:** ea737ceb9a7aa501d150d2dd09c9ca1a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182153.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182153

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23324
- **FILM NUMBER:** 251159876

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

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

## Series and Classes Contracts Data

### PGIM Ultra Short Bond ETF (Series ID: S000061589)

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

## Nport-Ex

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 79.1%** | **Long-Term Investments 79.1%** | **Long-Term Investments 79.1%** | **Long-Term Investments 79.1%** | **Long-Term Investments 79.1%** |
| **Asset-Backed Securities 18.6%** | **Asset-Backed Securities 18.6%** | **Asset-Backed Securities 18.6%** | **Asset-Backed Securities 18.6%** | **Asset-Backed Securities 18.6%** |
| **Automobiles 2.4%** | **Automobiles 2.4%** | **Automobiles 2.4%** | **Automobiles 2.4%** | **Automobiles 2.4%** |
| ARI Fleet Lease Trust,<br> Series 2024-A, Class A2, 144A | 5.300% | &nbsp;&nbsp;11/15/32 | &nbsp;&nbsp;4955 | &nbsp;&nbsp; $4975148 |
| Avis Budget Rental Car Funding AESOP LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-01A, Class A, 144A | 3.830 | &nbsp;&nbsp;08/21/28 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34469131 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-03A, Class A, 144A | 4.620 | &nbsp;&nbsp;02/20/27 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34958136 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-03A, Class A, 144A | 5.440 | &nbsp;&nbsp;02/22/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20227204 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-07A, Class A, 144A | 5.900 | &nbsp;&nbsp;08/21/28 | &nbsp;&nbsp;6650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6813302 |
| Enterprise Fleet Financing LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-03, Class A2, 144A | 4.380 | &nbsp;&nbsp;07/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191022 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01, Class A2, 144A | 5.510 | &nbsp;&nbsp;01/22/29 | &nbsp;&nbsp;2114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120508 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-02, Class A2, 144A | 5.560 | &nbsp;&nbsp;04/22/30 | &nbsp;&nbsp;3908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3928738 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-03, Class A2, 144A | 6.400 | &nbsp;&nbsp;03/20/30 | &nbsp;&nbsp;8794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8922317 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01, Class A2, 144A | 5.230 | &nbsp;&nbsp;03/20/30 | &nbsp;&nbsp;4575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4601470 |
| Ford Credit Auto Owner Trust,<br> Series 2021-02, Class A, 144A | 1.530 | &nbsp;&nbsp;05/15/34 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33544644 |
| Ford Credit Floorplan Master Owner Trust,<br> Series 2023-01, Class A1, 144A | 4.920 | &nbsp;&nbsp;05/15/28 | 17100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17155093 |
| GMF Floorplan Owner Revolving Trust,<br> Series 2024-03A, Class A1, 144A | 4.680 | &nbsp;&nbsp;11/15/28 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25053613 |
| OneMain Direct Auto Receivables Trust,<br> Series 2023-01A, Class A, 144A | 5.410 | &nbsp;&nbsp;11/14/29 | 17100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17237376 |
| Toyota Auto Loan Extended Note Trust,<br> Series 2021-01A, Class A, 144A | 1.070 | &nbsp;&nbsp;02/27/34 | 56600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55183047 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269380749 |
| **Collateralized Loan Obligations 15.8%** | **Collateralized Loan Obligations 15.8%** | **Collateralized Loan Obligations 15.8%** | **Collateralized Loan Obligations 15.8%** | **Collateralized Loan Obligations 15.8%** |
| AGL CLO Ltd. (United Kingdom),<br> Series 2022-22A, Class A1R, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) | 5.459(c) | &nbsp;&nbsp;01/20/37 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49951295 |
| Apidos CLO (Cayman Islands),<br> Series 2013-12A, Class ARR, 144A, 3 Month SOFR + 1.080% (Cap N/A, Floor 1.080%) | 5.336(c) | &nbsp;&nbsp;04/15/31 | &nbsp;&nbsp;5385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5379595 |
| Ares CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-45A, Class AR, 144A, 3 Month SOFR + 1.000% (Cap N/A, Floor 1.000%) | 5.256(c) | &nbsp;&nbsp;10/15/30 | 13408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13398368 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-50A, Class AR, 144A, 3 Month SOFR + 1.312% (Cap N/A, Floor 1.050%) | 5.568(c) | &nbsp;&nbsp;01/15/32 | &nbsp;&nbsp;6323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6330058 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Atlas Senior Loan Fund Ltd. (Cayman Islands),<br> Series 2021-17A, Class AR, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) | 5.329 %(c) | &nbsp;&nbsp;10/20/34 | 42500 | &nbsp;&nbsp; $42470488 |
| Atlas Static Senior Loan Fund Ltd. (Cayman Islands),<br> Series 2022-01A, Class AR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 6.006(c) | &nbsp;&nbsp;07/15/30 | &nbsp;&nbsp;3524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525630 |
| Balboa Bay Loan Funding Ltd. (Cayman Islands),<br> Series 2021-02A, Class A1R, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) | 5.399(c) | &nbsp;&nbsp;01/20/35 | 24070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24034940 |
| Ballyrock CLO Ltd. (Cayman Islands),<br> Series 2020-02A, Class A1R, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 1.010%) | 5.541(c) | &nbsp;&nbsp;10/20/31 | 16966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16976027 |
| Battalion CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-09A, Class AR, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | 5.618(c) | &nbsp;&nbsp;07/15/31 | 12667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12698939 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-12A, Class ARR, 144A, 3 Month SOFR + 0.930% (Cap N/A, Floor 0.930%) | 5.254(c) | &nbsp;&nbsp;05/17/31 | 20566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20546974 |
| BlueMountain CLO Ltd. (Cayman Islands),<br> Series 2018-22A, Class A1, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%) | 5.598(c) | &nbsp;&nbsp;07/15/31 | &nbsp;&nbsp;6448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6461754 |
| Canyon Capital CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-01A, Class AR, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 0.000%) | 5.588(c) | &nbsp;&nbsp;07/15/31 | 10657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10674998 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-01A, Class AR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | 5.518(c) | &nbsp;&nbsp;07/15/30 | &nbsp;&nbsp;7566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7576859 |
| Carlyle CLO Ltd. (Cayman Islands),<br> Series C17A, Class A1AR, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%) | 5.571(c) | &nbsp;&nbsp;04/30/31 | &nbsp;&nbsp;4275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4277258 |
| Carlyle Global Market Strategies CLO Ltd. (Cayman<br> Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2012-04A, Class A1R4, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) | 5.392(c) | &nbsp;&nbsp;04/22/32 | &nbsp;&nbsp;7777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7772273 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-01A, Class A1R2, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) | 5.511(c) | &nbsp;&nbsp;04/17/31 | &nbsp;&nbsp;1152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1153329 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-05A, Class A1R3, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.369(c) | &nbsp;&nbsp;01/20/32 | 14359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14345967 |
| CarVal CLO Ltd. (Cayman Islands),<br> Series 2019-01A, Class AR2, 144A, 3 Month SOFR + 1.020% (Cap N/A, Floor 1.020%) | 5.289(c) | &nbsp;&nbsp;04/20/32 | 44908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44948588 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| CBAM Ltd. (Cayman Islands),<br> Series 2018-07A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | 5.631 %(c) | &nbsp;&nbsp;07/20/31 | &nbsp;&nbsp;5117 | &nbsp;&nbsp; $5130231 |
| CIFC Funding Ltd. (Cayman Islands),<br> Series 2017-04A, Class A1R, 144A, 3 Month SOFR + 1.212% (Cap N/A, Floor 0.950%) | 5.487(c) | &nbsp;&nbsp;10/24/30 | &nbsp;&nbsp;9241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9250794 |
| Clover CLO LLC,<br> Series 2021-03A, Class AR, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) | 5.352(c) | &nbsp;&nbsp;01/25/35 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15988203 |
| Columbia Cent CLO Ltd. (Cayman Islands),<br> Series 2020-30A, Class A1R, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) | 5.549(c) | &nbsp;&nbsp;01/20/34 | 22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22015345 |
| Elevation CLO Ltd. (Cayman Islands),<br> Series 2021-13A, Class A1R, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) | 5.316(c) | &nbsp;&nbsp;07/15/34 | 62500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62468750 |
| Golub Capital Partners Static Ltd. (Cayman Islands),<br> Series 2024-01A, Class A1, 144A, 3 Month SOFR + 1.230% (Cap N/A, Floor 1.230%) | 5.499(c) | &nbsp;&nbsp;04/20/33 | 25329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25371213 |
| Greywolf CLO Ltd. (Cayman Islands),<br> Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.440% (Cap N/A, Floor 1.440%) | 5.709(c) | &nbsp;&nbsp;10/20/31 | &nbsp;&nbsp;3544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551933 |
| Highbridge Loan Management Ltd. (Cayman Islands),<br> Series 05A-2015, Class A1R3, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) | 5.316(c) | &nbsp;&nbsp;10/15/30 | 30113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30090650 |
| HPS Loan Management Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 10A-16, Class A1R3, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) | 5.389(c) | &nbsp;&nbsp;04/20/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50026975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 13A-18, Class A1R, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) | 5.386(c) | &nbsp;&nbsp;10/15/30 | 16564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16583277 |
| ICG Euro CLO Ltd. (Cayman Islands),<br> Series 2020-01A, Class ARR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.369(c) | &nbsp;&nbsp;01/20/35 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49996660 |
| Jamestown CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class A1R, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) | 5.469(c) | &nbsp;&nbsp;04/20/32 | &nbsp;&nbsp;7129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7135556 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-14A, Class A1RR, 144A, 3 Month SOFR + 1.040% (Cap N/A, Floor 1.040%) | 5.309(c) | &nbsp;&nbsp;10/20/34 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39931020 |
| Jefferson Mill CLO Ltd. (Cayman Islands),<br> Series 2015-01A, Class ARR, 144A, 3 Month SOFR + 1.230% (Cap N/A, Floor 0.000%) | 5.502(c) | &nbsp;&nbsp;10/20/31 | 14568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14587505 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| KKR CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 11, Class AR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%) | 5.698 %(c) | &nbsp;&nbsp;01/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp; $286667 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 18, Class AR, 144A, 3 Month SOFR + 1.202% (Cap N/A, Floor 0.940%) | 5.471(c) | &nbsp;&nbsp;07/18/30 | &nbsp;&nbsp;2525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526721 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-41A, Class A1, 144A, 3 Month SOFR + 1.330% (Cap N/A, Floor 1.330%) | 5.586(c) | &nbsp;&nbsp;04/15/35 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50050000 |
| LCM Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 31A, Class AR, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) | 5.549(c) | &nbsp;&nbsp;07/20/34 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9996638 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 39A, Class A1R, 144A, 3 Month SOFR + 1.340% (Cap N/A, Floor 1.340%) | 5.596(c) | &nbsp;&nbsp;10/15/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50029005 |
| Madison Park Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-18A, Class ARR, 144A, 3 Month SOFR + 1.202% (Cap N/A, Floor 0.940%) | 5.471(c) | &nbsp;&nbsp;10/21/30 | 12927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12940232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-24A, Class AR2, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) | 5.389(c) | &nbsp;&nbsp;10/20/29 | &nbsp;&nbsp;2510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2509799 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-45A, Class ARR, 144A, 3 Month SOFR + 1.080% (Cap N/A, Floor 1.080%) | 5.336(c) | &nbsp;&nbsp;07/15/34 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16993120 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-38A, Class X, 144A, 3 Month SOFR + 1.212% (Cap N/A, Floor 1.212%) | 5.491(c) | &nbsp;&nbsp;07/17/34 | &nbsp;&nbsp;1077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076919 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-48A, Class A, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.412%) | 5.681(c) | &nbsp;&nbsp;04/19/33 | 13620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13674901 |
| Mountain View CLO Ltd. (Cayman Islands),<br> Series 2013-01A, Class ARR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | 5.503(c) | &nbsp;&nbsp;10/12/30 | &nbsp;&nbsp;5237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5235097 |
| Nassau Ltd. (United Kingdom),<br> Series 2022-01A, Class A1R, 144A, 3 Month SOFR + 1.170% (Cap N/A, Floor 1.170%) | 5.426(c) | &nbsp;&nbsp;01/15/31 | &nbsp;&nbsp;9292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9294122 |
| Neuberger Berman Loan Advisers CLO Ltd. (Cayman Islands),<br> Series 2021-40A, Class A, 144A, 3 Month SOFR + 1.322% (Cap N/A, Floor 1.060%) | 5.582(c) | &nbsp;&nbsp;04/16/33 | 16380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16424984 |
| Northwoods Capital Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-15A, Class A1RR, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) | 5.355(c) | &nbsp;&nbsp;06/20/34 | 52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51968270 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-12BA, Class AR, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) | 5.489(c) | &nbsp;&nbsp;06/15/31 | 11624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11623639 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Octagon Ltd. (Cayman Islands),<br> Series 2022-01A, Class A1R, 144A, 3 Month SOFR + 1.260% (Cap N/A, Floor 1.260%) | 5.576 %(c) | &nbsp;&nbsp;07/21/35 | 50000 | &nbsp;&nbsp; $50000000 |
| OZLM Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-06A, Class A1T, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 0.868%) | 5.410(c) | &nbsp;&nbsp;04/17/31 | &nbsp;&nbsp;5840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5841179 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-09A, Class A1A4, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) | 5.469(c) | &nbsp;&nbsp;10/20/31 | 15010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15022868 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-15A, Class A1RR, 144A, 3 Month SOFR + 1.220% (Cap N/A, Floor 1.220%) | 5.489(c) | &nbsp;&nbsp;04/20/33 | 10905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10915905 |
| Palmer Square CLO Ltd. (Cayman Islands),<br> Series 2015-01A, Class A1A5, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) | 5.371(c) | &nbsp;&nbsp;05/21/34 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24986520 |
| Palmer Square Loan Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-04A, Class A1, 144A, 3 Month SOFR + 1.062% (Cap N/A, Floor 1.062%) | 5.318(c) | &nbsp;&nbsp;10/15/29 | &nbsp;&nbsp;1277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276255 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-03A, Class A1AR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.356(c) | &nbsp;&nbsp;04/15/31 | &nbsp;&nbsp;9464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9460388 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01A, Class A1, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) | 5.306(c) | &nbsp;&nbsp;10/15/32 | &nbsp;&nbsp;7798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7809871 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-02A, Class A1N, 144A, 3 Month SOFR + 1.000% (Cap N/A, Floor 1.000%) | 5.256(c) | &nbsp;&nbsp;01/15/33 | 22723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22736732 |
| Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands),<br> Series 2018-01A, Class A1AR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | 5.531(c) | &nbsp;&nbsp;10/20/31 | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732531 |
| PPM CLO Ltd. (Cayman Islands),<br> Series 2018-01A, Class A, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | 5.668(c) | &nbsp;&nbsp;07/15/31 | &nbsp;&nbsp;2381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2386571 |
| Regatta Funding Ltd. (Cayman Islands),<br> Series 2019-02A, Class A1R, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) | 5.456(c) | &nbsp;&nbsp;01/15/33 | 29207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29173606 |
| Rockford Tower CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-03A, Class A, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 0.000%) | 5.721(c) | &nbsp;&nbsp;10/20/30 | &nbsp;&nbsp;3617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3624407 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class A1RR, 144A, 3 Month SOFR + 1.090% (Cap N/A, Floor 1.090%) | 5.359(c) | &nbsp;&nbsp;01/20/36 | 60500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60500000 |
| Rockford Tower CLO Ltd.,<br> Series 2017-02A, Class AR, 144A, 3 Month SOFR + 1.282% (Cap N/A, Floor 1.020%) | 5.538(c) | &nbsp;&nbsp;10/15/29 | &nbsp;&nbsp;2197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2198375 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Romark CLO Ltd. (Cayman Islands),<br> Series 2018-02A, Class A1R, 144A, 3 Month SOFR + 1.140% (Cap N/A, Floor 1.140%) | 5.422 %(c) | &nbsp;&nbsp;07/25/31 | 27001 | &nbsp;&nbsp; $27007158 |
| Romark WM-R Ltd. (Cayman Islands),<br> Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%) | 5.561(c) | &nbsp;&nbsp;04/20/31 | &nbsp;&nbsp;6221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6227073 |
| Saratoga Investment Corp. CLO Ltd. (Cayman Islands),<br> Series 2013-01A, Class A1R4, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 5.569(c) | &nbsp;&nbsp;04/20/33 | 13721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13745669 |
| Sculptor CLO Ltd. (Cayman Islands),<br> Series 28A, Class AR, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) | 5.329(c) | &nbsp;&nbsp;01/20/35 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39978752 |
| Shackleton CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-05RA, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 0.262%) | 5.660(c) | &nbsp;&nbsp;05/07/31 | &nbsp;&nbsp;4968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4975370 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-07RA, Class ARR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.356(c) | &nbsp;&nbsp;07/15/31 | 32206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32199506 |
| Silver Rock CLO Ltd. (Cayman Islands),<br> Series 2021-02A, Class AR, 144A, 3 Month SOFR + 1.040% (Cap N/A, Floor 1.040%) | 5.309(c) | &nbsp;&nbsp;01/20/35 | 41750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41689421 |
| Sixth Street CLO Ltd. (Cayman Islands),<br> Series 2017-08A, Class A1R2, 144A, 3 Month SOFR + 1.150% (Cap N/A, Floor 1.150%) | 5.419(c) | &nbsp;&nbsp;10/20/34 | 46500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46566993 |
| Sound Point CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-03RA, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) | 5.611(c) | &nbsp;&nbsp;10/23/31 | &nbsp;&nbsp;4805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4814732 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-03A, Class A1AR, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 5.583(c) | &nbsp;&nbsp;10/26/31 | 15041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15073918 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class ARR, 144A, 3 Month SOFR + 1.030% (Cap N/A, Floor 1.030%) | 5.299(c) | &nbsp;&nbsp;01/20/32 | 32054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32057114 |
| Symphony CLO Ltd. (Cayman Islands),<br> Series 2016-18A, Class A1R3, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | 5.379(c) | &nbsp;&nbsp;07/23/33 | 30822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30788354 |
| TCW CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-01A, Class A1R3, 144A, 3 Month SOFR + 1.150% (Cap N/A, Floor 0.000%) | 5.430(c) | &nbsp;&nbsp;10/29/34 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35050148 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class A1R3, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 0.000%) | 5.319(c) | &nbsp;&nbsp;04/20/34 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24986132 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| TIAA CLO Ltd. (Cayman Islands),<br> Series 2018-01A, Class A1AR, 144A, 3 Month SOFR + 1.140% (Cap N/A, Floor 1.140%) | 5.409 %(c) | &nbsp;&nbsp;01/20/32 | 12645 | &nbsp;&nbsp; $12646214 |
| Trinitas CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-04A, Class A1L2, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | 5.631(c) | &nbsp;&nbsp;10/18/31 | &nbsp;&nbsp;1561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1562156 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-11A, Class A1RR, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) | 5.446(c) | &nbsp;&nbsp;07/15/34 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49970085 |
| Venture CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-28AA, Class A1RR, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) | 5.379(c) | &nbsp;&nbsp;10/20/34 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30003255 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-34A, Class AR, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) | 5.536(c) | &nbsp;&nbsp;10/15/31 | 14257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14284862 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-37A, Class A1RR, 144A, 3 Month SOFR + 1.250% (Cap N/A, Floor 1.250%) | 5.506(c) | &nbsp;&nbsp;07/15/32 | 30709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30763478 |
| Voya CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) | 5.513(c) | &nbsp;&nbsp;04/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937445 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-03A, Class A1RR, 144A, 3 Month SOFR + 1.411% (Cap N/A, Floor 1.150%) | 5.681(c) | &nbsp;&nbsp;10/18/31 | &nbsp;&nbsp;9854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9883012 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-01A, Class AAR2, 144A, 3 Month SOFR + 1.252% (Cap N/A, Floor 0.000%) | 5.521(c) | &nbsp;&nbsp;04/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453644 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-02A, Class A1RR, 144A, 3 Month SOFR + 1.282% (Cap N/A, Floor 1.020%) | 5.561(c) | &nbsp;&nbsp;04/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6809 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-03A, Class A1R3, 144A, 3 Month SOFR + 1.150% (Cap N/A, Floor 1.150%) | 5.422(c) | &nbsp;&nbsp;10/20/31 | 29523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29564962 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-01A, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) | 5.601(c) | &nbsp;&nbsp;01/20/31 | &nbsp;&nbsp;6622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6632068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-03A, Class A1R2, 144A, 3 Month SOFR + 1.150% (Cap N/A, Floor 1.150%) | 5.419(c) | &nbsp;&nbsp;10/18/31 | &nbsp;&nbsp;9507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9509216 |
| Wellfleet CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-XA, Class A1R2, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) | 5.389(c) | &nbsp;&nbsp;07/20/32 | 44852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44818135 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class A1AR, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) | 5.456(c) | &nbsp;&nbsp;04/15/33 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29986857 |
| Whitebox CLO Ltd. (Cayman Islands),<br> Series 2021-03A, Class A1R, 144A, 3 Month SOFR + 1.270% (Cap N/A, Floor 1.270%) | 5.526(c) | &nbsp;&nbsp;10/15/35 | 16100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16122540 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1788251852 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Consumer Loans 0.3%** | **Consumer Loans 0.3%** | **Consumer Loans 0.3%** | **Consumer Loans 0.3%** | **Consumer Loans 0.3%** |
| OneMain Financial Issuance Trust,<br> Series 2023-02A, Class A1, 144A | 5.840% | &nbsp;&nbsp;09/15/36 | 34900 | &nbsp;&nbsp; $35623889 |
| **Home Equity Loans 0.1%** | **Home Equity Loans 0.1%** | **Home Equity Loans 0.1%** | **Home Equity Loans 0.1%** | **Home Equity Loans 0.1%** |
| JPMorgan Mortgage Trust,<br> Series 2024-HE02, Class A1, 144A, 30 Day Average SOFR + 1.200% (Cap N/A, Floor 0.000%) | 5.528(c) | &nbsp;&nbsp;10/20/54 | &nbsp;&nbsp;7021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7007280 |
| RCKT Mortgage Trust,<br> Series 2024-CES03, Class A1A, 144A | 6.591(cc) | &nbsp;&nbsp;05/25/44 | &nbsp;&nbsp;7768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7867995 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14875275 |
| **Total Asset-Backed Securities<br> (cost $2,103,455,262)** | **Total Asset-Backed Securities<br> (cost $2,103,455,262)** | **Total Asset-Backed Securities<br> (cost $2,103,455,262)** | **Total Asset-Backed Securities<br> (cost $2,103,455,262)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2108131765 |
| **Certificates of Deposit 2.3%** | **Certificates of Deposit 2.3%** | **Certificates of Deposit 2.3%** | **Certificates of Deposit 2.3%** | **Certificates of Deposit 2.3%** |
| Bank of America NA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.340% | 4.610(c) | &nbsp;&nbsp;04/27/26 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25010823 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.350% | 4.640(c) | &nbsp;&nbsp;10/27/25 | 14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14508322 |
| Bank of Nova Scotia, SOFR + 0.350% (Cap N/A, Floor 0.000%) | 4.680(c) | &nbsp;&nbsp;10/24/25 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25011600 |
| BNP Paribas SA | 4.600 | &nbsp;&nbsp;02/17/26 | 26700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26725790 |
| BNP Paribas SA, SOFR + 0.370% | 4.700(c) | &nbsp;&nbsp;09/08/25 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35022561 |
| Canadian Imperial Bank of Commerce, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.350% (Cap N/A, Floor 0.000%) | 4.680(c) | &nbsp;&nbsp;11/21/25 | 31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31028535 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.430% | 4.760(c) | &nbsp;&nbsp;05/08/26 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17527083 |
| Credit Agricole Corporate & Investment Bank, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.590% | 4.920(c) | &nbsp;&nbsp;08/28/25 | 44000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44052505 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 0.810% | 5.140(c) | &nbsp;&nbsp;06/07/27 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10105450 |
| Natixis SA, SOFR + 0.620% | 4.950(c) | &nbsp;&nbsp;10/29/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10042610 |
| Toronto-Dominion Bank (The), US Federal Funds Effective Rate + 0.400% | 4.730(c) | &nbsp;&nbsp;08/22/25 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25013686 |
| **Total Certificates of Deposit<br> (cost $263,681,818)** | **Total Certificates of Deposit<br> (cost $263,681,818)** | **Total Certificates of Deposit<br> (cost $263,681,818)** | **Total Certificates of Deposit<br> (cost $263,681,818)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264048965 |
| **Commercial Mortgage-Backed Securities 7.0%** | **Commercial Mortgage-Backed Securities 7.0%** | **Commercial Mortgage-Backed Securities 7.0%** | **Commercial Mortgage-Backed Securities 7.0%** | **Commercial Mortgage-Backed Securities 7.0%** |
| 3650R Commercial Mortgage Trust,<br> Series 2021-PF01, Class A1 | 1.122 | &nbsp;&nbsp;11/15/54 | &nbsp;&nbsp;2608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535296 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| BANK, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK04, Class A3 | 3.362% | &nbsp;&nbsp;05/15/50 | 27747 | &nbsp;&nbsp; $27220648 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK05, Class A4 | 3.131 | &nbsp;&nbsp;06/15/60 | 13521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13168386 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK08, Class A3 | 3.229 | &nbsp;&nbsp;11/15/50 | 17699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17294247 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK09, Class A3 | 3.279 | &nbsp;&nbsp;11/15/54 | &nbsp;&nbsp;2215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2155353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-BNK09, Class A4 | 3.538 | &nbsp;&nbsp;11/15/54 | 20040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19405007 |
| Bank of America Merrill Lynch Commercial Mortgage<br> Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-UB10, Class A3 | 2.903 | &nbsp;&nbsp;07/15/49 | &nbsp;&nbsp;1491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-UB10, Class A4 | 3.170 | &nbsp;&nbsp;07/15/49 | 21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20668347 |
| BANK5, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05YR1, Class A2 | 5.779 | &nbsp;&nbsp;04/15/56 | &nbsp;&nbsp;2820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2879335 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05YR1, Class A3 | 6.260(cc) | &nbsp;&nbsp;04/15/56 | &nbsp;&nbsp;3193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3305464 |
| Benchmark Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-B02, Class A2 | 3.662 | &nbsp;&nbsp;02/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-B05, Class A2 | 4.077 | &nbsp;&nbsp;07/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-V03, Class A3 | 6.363(cc) | &nbsp;&nbsp;07/15/56 | 16734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17446050 |
| BX Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-ACNT, Class A, 144A, 1 Month SOFR + 0.964% (Cap N/A, Floor 0.850%) | 5.293(c) | &nbsp;&nbsp;11/15/38 | 41236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41210284 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CIP, Class A, 144A, 1 Month SOFR + 1.035% (Cap N/A, Floor 0.921%) | 5.364(c) | &nbsp;&nbsp;12/15/38 | 37563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37493052 |
| BX Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-ARIA, Class A, 144A, 1 Month SOFR + 1.014% (Cap N/A, Floor 0.899%) | 5.343(c) | &nbsp;&nbsp;10/15/36 | 29078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28932610 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-LBA06, Class A, 144A, 1 Month SOFR + 1.000% (Cap N/A, Floor 1.000%) | 5.329(c) | &nbsp;&nbsp;01/15/39 | 37009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36928043 |
| CD Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-CD2, Class A3 | 3.248 | &nbsp;&nbsp;11/10/49 | &nbsp;&nbsp;2328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2285609 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-CD03, Class A3 | 3.356 | &nbsp;&nbsp;02/10/50 | &nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103426 |
| CFCRE Commercial Mortgage Trust,<br> Series 2016-C04, Class A4 | 3.283 | &nbsp;&nbsp;05/10/58 | &nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5522826 |
| CGMS Commercial Mortgage Trust,<br> Series 2017-B01, Class A3 | 3.197 | &nbsp;&nbsp;08/15/50 | &nbsp;&nbsp;1448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403420 |
| Citigroup Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-GC31, Class A4 | 3.762 | &nbsp;&nbsp;06/10/48 | &nbsp;&nbsp;7156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7028556 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-GC33, Class A4 | 3.778 | &nbsp;&nbsp;09/10/58 | &nbsp;&nbsp;2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2239533 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C01, Class A3 | 2.944 | &nbsp;&nbsp;05/10/49 | &nbsp;&nbsp;5736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5665694 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C02, Class A3 | 2.575 | &nbsp;&nbsp;08/10/49 | 14492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14194346 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C03, Class A4 | 3.154 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;5447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5309255 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P04, Class A2 | 2.450 | &nbsp;&nbsp;07/10/49 | &nbsp;&nbsp;3635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3566177 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P04, Class A3 | 2.646 | &nbsp;&nbsp;07/10/49 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9781690 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| Citigroup Commercial Mortgage Trust, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P05, Class A3 | 2.684% | &nbsp;&nbsp;10/10/49 | &nbsp;&nbsp;4836 | &nbsp;&nbsp; $4722406 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P06, Class A4 | 3.458 | &nbsp;&nbsp;12/10/49 | 10464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10277479 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C04, Class A3 | 3.209 | &nbsp;&nbsp;10/12/50 | &nbsp;&nbsp;1074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038266 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-P07, Class A3 | 3.442 | &nbsp;&nbsp;04/14/50 | &nbsp;&nbsp;8185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8030710 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-P08, Class A3 | 3.203 | &nbsp;&nbsp;09/15/50 | &nbsp;&nbsp;6182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6008055 |
| Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2012-CR04, Class A3 | 2.853 | &nbsp;&nbsp;10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85613 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-CR26, Class A4 | 3.630 | &nbsp;&nbsp;10/10/48 | 12465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12397365 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-LC21, Class A4 | 3.708 | &nbsp;&nbsp;07/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946044 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-LC23, Class A4 | 3.774 | &nbsp;&nbsp;10/10/48 | 11580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11514140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-COR01, Class A4 | 3.091 | &nbsp;&nbsp;10/10/49 | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10740366 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-COR03, Class A2 | 3.961 | &nbsp;&nbsp;05/10/51 | &nbsp;&nbsp;1590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1544558 |
| Credit Suisse Mortgage Trust,<br> Series 2016-NXSR, Class A3 | 3.501 | &nbsp;&nbsp;12/15/49 | &nbsp;&nbsp;3303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3274920 |
| CSAIL Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C02, Class A4 | 3.504 | &nbsp;&nbsp;06/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234822 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C05, Class ASB | 3.533 | &nbsp;&nbsp;11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111974 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C06, Class A5 | 3.090 | &nbsp;&nbsp;01/15/49 | 14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14252872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C07, Class A4 | 3.210 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;5462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5395284 |
| Deutsche Bank Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C01, Class A4 | 3.276 | &nbsp;&nbsp;05/10/49 | &nbsp;&nbsp;1914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1881131 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C03, Class A4 | 2.632 | &nbsp;&nbsp;08/10/49 | &nbsp;&nbsp;6895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6770123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C03, Class A5 | 2.890 | &nbsp;&nbsp;08/10/49 | &nbsp;&nbsp;8353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8162446 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C06, Class A3 | 3.269 | &nbsp;&nbsp;06/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407008 |
| GS Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS02, Class A4 | 3.050 | &nbsp;&nbsp;05/10/49 | 14962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14724034 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS03, Class A3 | 2.592 | &nbsp;&nbsp;10/10/49 | 21018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20560641 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS04, Class A3 | 3.178 | &nbsp;&nbsp;11/10/49 | &nbsp;&nbsp;5764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5655736 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GS04, Class A4 | 3.442(cc) | &nbsp;&nbsp;11/10/49 | &nbsp;&nbsp;4419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4326498 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GS06, Class A2 | 3.164 | &nbsp;&nbsp;05/10/50 | &nbsp;&nbsp;5211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5051072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GS07, Class A3 | 3.167 | &nbsp;&nbsp;08/10/50 | 32020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31070565 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-GC38, Class AAB | 3.835 | &nbsp;&nbsp;02/10/52 | &nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394225 |
| JPMBB Commercial Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-C23, Class A5 | 3.934 | &nbsp;&nbsp;09/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201446 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-C24, Class A5 | 3.639 | &nbsp;&nbsp;11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827091 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C31, Class A3 | 3.801 | &nbsp;&nbsp;08/15/48 | &nbsp;&nbsp;5633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5607597 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C32, Class A4 | 3.329 | &nbsp;&nbsp;11/15/48 | 19126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19006964 |
| JPMDB Commercial Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C04, Class A2 | 2.882 | &nbsp;&nbsp;12/15/49 | &nbsp;&nbsp;3535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3462161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-C08, Class A3 | 3.944 | &nbsp;&nbsp;06/15/51 | &nbsp;&nbsp;4277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4213878 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| JPMorgan Chase Commercial Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-JP01, Class A5 | 3.914% | &nbsp;&nbsp;01/15/49 | &nbsp;&nbsp;9620 | &nbsp;&nbsp; $9533529 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-JP02, Class ASB | 2.713 | &nbsp;&nbsp;08/15/49 | &nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162500 |
| Ladder Capital Commercial Mortgage Securities Trust,<br> Series 2017-LC26, Class A4, 144A | 3.551 | &nbsp;&nbsp;07/12/50 | &nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2871113 |
| Morgan Stanley Bank of America Merrill Lynch Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C24, Class A4 | 3.732 | &nbsp;&nbsp;05/15/48 | &nbsp;&nbsp;8118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100343 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C25, Class A5 | 3.635 | &nbsp;&nbsp;10/15/48 | 10333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10283480 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C26, Class A5 | 3.531 | &nbsp;&nbsp;10/15/48 | 10600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10538986 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C27, Class A3 | 3.473 | &nbsp;&nbsp;12/15/47 | &nbsp;&nbsp;2598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590374 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C27, Class A4 | 3.753 | &nbsp;&nbsp;12/15/47 | &nbsp;&nbsp;6275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6237647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C29, Class A4 | 3.325 | &nbsp;&nbsp;05/15/49 | 11665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11478044 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C30, Class A5 | 2.860 | &nbsp;&nbsp;09/15/49 | 12334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11967769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C31, Class A4 | 2.840 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;6941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6797975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C33, Class A4 | 3.337 | &nbsp;&nbsp;05/15/50 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16644861 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C33, Class A5 | 3.599 | &nbsp;&nbsp;05/15/50 | 12820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12463937 |
| Morgan Stanley Capital I,<br> Series 2017-HR02, Class A4 | 3.587 | &nbsp;&nbsp;12/15/50 | &nbsp;&nbsp;5395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5231639 |
| Morgan Stanley Capital I Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-MS01, Class A4 | 3.779(cc) | &nbsp;&nbsp;05/15/48 | &nbsp;&nbsp;5928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5914396 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-BNK02, Class A3 | 2.791 | &nbsp;&nbsp;11/15/49 | 15230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14873385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-L01, Class ASB | 4.238(cc) | &nbsp;&nbsp;10/15/51 | &nbsp;&nbsp;2522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501052 |
| MTN Commercial Mortgage Trust,<br> Series 2022-LPFL, Class A, 144A, 1 Month SOFR + 1.397% (Cap N/A, Floor 1.397%) | 5.727(c) | &nbsp;&nbsp;03/15/39 | &nbsp;&nbsp;2230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2228606 |
| One New York Plaza Trust,<br> Series 2020-01NYP, Class A, 144A, 1 Month SOFR + 1.064% (Cap N/A, Floor 0.950%) | 5.393(c) | &nbsp;&nbsp;01/15/36 | 17410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16898581 |
| UBS Commercial Mortgage Trust,<br> Series 2017-C04, Class A3 | 3.301 | &nbsp;&nbsp;10/15/50 | 11843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11553215 |
| Wells Fargo Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-LC22, Class A4 | 3.839 | &nbsp;&nbsp;09/15/58 | &nbsp;&nbsp;6824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6795923 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-P02, Class A3 | 3.541 | &nbsp;&nbsp;12/15/48 | 13324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13234488 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-BNK01, Class A2 | 2.399 | &nbsp;&nbsp;08/15/49 | 15903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15512498 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C34, Class ASB | 2.911 | &nbsp;&nbsp;06/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575964 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C35, Class A3 | 2.674 | &nbsp;&nbsp;07/15/48 | &nbsp;&nbsp;1947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912019 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C36, Class A3 | 2.807 | &nbsp;&nbsp;11/15/59 | 12385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12106625 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-NXS05, Class A5 | 3.372 | &nbsp;&nbsp;01/15/59 | &nbsp;&nbsp;4920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4881357 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-NXS06, Class A4 | 2.918 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;2390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2320885 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C38, Class A4 | 3.190 | &nbsp;&nbsp;07/15/50 | &nbsp;&nbsp;4433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4312723 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C41, Class A3 | 3.210 | &nbsp;&nbsp;11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792958 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| Wells Fargo Commercial Mortgage Trust, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-C45, Class A3 | 3.920% | &nbsp;&nbsp;06/15/51 | &nbsp;&nbsp;4842 | &nbsp;&nbsp; $4757642 |
| **Total Commercial Mortgage-Backed Securities<br> (cost $782,542,880)** | **Total Commercial Mortgage-Backed Securities<br> (cost $782,542,880)** | **Total Commercial Mortgage-Backed Securities<br> (cost $782,542,880)** | **Total Commercial Mortgage-Backed Securities<br> (cost $782,542,880)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791690900 |
| **Corporate Bonds 50.0%** | **Corporate Bonds 50.0%** | **Corporate Bonds 50.0%** | **Corporate Bonds 50.0%** | **Corporate Bonds 50.0%** |
| **Aerospace & Defense 0.6%** | **Aerospace & Defense 0.6%** | **Aerospace & Defense 0.6%** | **Aerospace & Defense 0.6%** | **Aerospace & Defense 0.6%** |
| BAE Systems PLC (United Kingdom),<br> Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;03/26/27 | 10290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10367579 |
| General Dynamics Corp.,<br> Gtd. Notes | 2.625 | &nbsp;&nbsp;11/15/27 | &nbsp;&nbsp;5120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4936818 |
| RTX Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.000 | &nbsp;&nbsp;02/27/26 | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8026304 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.750 | &nbsp;&nbsp;11/08/26 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40692068 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64022769 |
| **Agriculture 0.9%** | **Agriculture 0.9%** | **Agriculture 0.9%** | **Agriculture 0.9%** | **Agriculture 0.9%** |
| Bunge Ltd. Finance Corp.,<br> Gtd. Notes | 4.100 | &nbsp;&nbsp;01/07/28 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5953458 |
| Cargill, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;02/11/28 | 45700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46069115 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.875 | &nbsp;&nbsp;10/10/25 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14011611 |
| Philip Morris International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.125 | &nbsp;&nbsp;04/28/28 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29813029 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;02/12/27 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10074673 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105921886 |
| **Auto Manufacturers 6.9%** | **Auto Manufacturers 6.9%** | **Auto Manufacturers 6.9%** | **Auto Manufacturers 6.9%** | **Auto Manufacturers 6.9%** |
| American Honda Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;01/12/26 | &nbsp;&nbsp;9750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9759474 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.550% (Cap N/A, Floor 0.000%) | 4.893(c) | &nbsp;&nbsp;05/11/26 | 44000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43950364 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.600% | 4.945(c) | &nbsp;&nbsp;08/14/25 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10001671 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.620% (Cap N/A, Floor 0.000%) | 4.971(c) | &nbsp;&nbsp;12/11/26 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34958399 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.820% | 5.166(c) | &nbsp;&nbsp;03/03/28 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4986092 |
| BMW US Capital LLC (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.650 | &nbsp;&nbsp;03/19/27 | 18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18937913 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** |
| BMW US Capital LLC (Germany), (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.750% | &nbsp;&nbsp;03/21/28 | 29800 | &nbsp;&nbsp; $29957967 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR Index + 0.550% | 4.899(c) | &nbsp;&nbsp;04/02/26 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19992754 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR Index + 0.620% | 4.963(c) | &nbsp;&nbsp;08/11/25 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20009660 |
| Daimler Truck Finance North America LLC (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.000 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;9070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9121175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.150 | &nbsp;&nbsp;01/16/26 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14016050 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.840% | 5.184(c) | &nbsp;&nbsp;01/13/28 | 16600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16553852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.960% | 5.308(c) | &nbsp;&nbsp;09/25/27 | 24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23973600 |
| General Motors Financial Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 1.250 | &nbsp;&nbsp;01/08/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9771519 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.750 | &nbsp;&nbsp;06/20/25 | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8988981 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.050 | &nbsp;&nbsp;04/04/28 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17546456 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR Index + 1.050% | 5.394(c) | &nbsp;&nbsp;07/15/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29781366 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.400 | &nbsp;&nbsp;04/06/26 | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8524512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.400 | &nbsp;&nbsp;05/08/27 | &nbsp;&nbsp;9375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9454624 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR Index + 1.170% | 5.528(c) | &nbsp;&nbsp;04/04/28 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17260669 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.050 | &nbsp;&nbsp;10/10/25 | 20625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20697781 |
| Hyundai Capital America, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.850 | &nbsp;&nbsp;03/25/27 | 14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14385354 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.875 | &nbsp;&nbsp;11/01/27 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4992451 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 1.030% | 5.379(c) | &nbsp;&nbsp;09/24/27 | &nbsp;&nbsp;9170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9144393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 1.040% | 5.388(c) | &nbsp;&nbsp;03/19/27 | 16670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16650371 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 1.040% | 5.389(c) | &nbsp;&nbsp;06/24/27 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39986891 |
| Mercedes-Benz Finance North America LLC (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.630% | 4.975(c) | &nbsp;&nbsp;07/31/26 | 13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12989600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.670% | 5.017(c) | &nbsp;&nbsp;01/09/26 | 13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13023258 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.780% (Cap N/A, Floor 0.000%) | 5.129(c) | &nbsp;&nbsp;04/01/27 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14967450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.850% | 5.196(c) | &nbsp;&nbsp;11/15/27 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14937972 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.375 | &nbsp;&nbsp;11/26/25 | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8523955 |
| PACCAR Financial Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;03/03/28 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50463418 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 3.550 | &nbsp;&nbsp;08/11/25 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24959281 |
| Toyota Motor Credit Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.450 | &nbsp;&nbsp;05/18/26 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR + 0.770% | 5.113(c) | &nbsp;&nbsp;08/07/26 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6021250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 3.650 | &nbsp;&nbsp;08/18/25 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4987155 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 3.950 | &nbsp;&nbsp;06/30/25 | 18750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18738419 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.300% | 4.630(c) | &nbsp;&nbsp;02/24/26 | 13750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13743195 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** | **Auto Manufacturers (cont'd.)** |
| Toyota Motor Credit Corp., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR Index + 0.450% | 4.796 %(c) | &nbsp;&nbsp;04/10/26 | 10000 | &nbsp;&nbsp; $10002095 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.600% (Cap N/A, Floor 0.000%) | 4.930(c) | &nbsp;&nbsp;06/09/25 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19952887 |
| Volkswagen Group of America Finance LLC (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.950 | &nbsp;&nbsp;06/06/25 | 13250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13248634 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.950 | &nbsp;&nbsp;03/25/27 | &nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8297879 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.050 | &nbsp;&nbsp;03/27/28 | 16700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16703140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.000 | &nbsp;&nbsp;11/16/26 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50628415 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780592732 |
| **Banks 12.0%** | **Banks 12.0%** | **Banks 12.0%** | **Banks 12.0%** | **Banks 12.0%** |
| ABN AMRO Bank NV (Netherlands),<br> Sr. Preferred Notes, 144A | 4.718 | &nbsp;&nbsp;01/22/27 | 93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93412622 |
| Australia & New Zealand Banking Group Ltd.<br> (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.560% | 4.908(c) | &nbsp;&nbsp;03/18/26 | 13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13525581 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.810% | 5.154(c) | &nbsp;&nbsp;01/18/27 | 33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33817946 |
| Banco Santander SA (Spain),<br> Sr. Non-Preferred Notes | 5.147 | &nbsp;&nbsp;08/18/25 | 47600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47634124 |
| Bank of Montreal (Canada),<br> Sr. Unsec'd. Notes, MTN | 4.850 | &nbsp;&nbsp;07/30/26 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49951295 |
| Bank of Nova Scotia (The) (Canada),<br> Sr. Unsec'd. Notes, GMTN, SOFR Index + 0.780% | 5.130(c) | &nbsp;&nbsp;06/04/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29988336 |
| Banque Federative du Credit Mutuel SA (France),<br> Sr. Preferred Notes, 144A, SOFR + 1.130% | 5.474(c) | &nbsp;&nbsp;01/23/27 | 10890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10955851 |
| Citibank NA,<br> Sr. Unsec'd. Notes, SOFR + 0.805% | 5.155(c) | &nbsp;&nbsp;09/29/25 | 52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52038621 |
| Commonwealth Bank of Australia (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.423 | &nbsp;&nbsp;03/14/28 | 17400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17490059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, MTN, SOFR + 0.640% | 4.986(c) | &nbsp;&nbsp;03/14/28 | 20700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20737717 |
| Cooperatieve Rabobank UA (Netherlands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, SOFR Index + 0.620% | 4.971(c) | &nbsp;&nbsp;08/28/26 | 12920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12950405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, SOFR Index + 0.710% | 5.056(c) | &nbsp;&nbsp;01/09/26 | 28500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28553731 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, SOFR Index + 0.710% | 5.057(c) | &nbsp;&nbsp;03/05/27 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15057746 |
| Deutsche Bank AG (Germany),<br> Sr. Non-Preferred Notes | 2.129(ff) | &nbsp;&nbsp;11/24/26 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24635458 |
| DNB Bank ASA (Norway),<br> Sr. Non-Preferred Notes, 144A | 5.896(ff) | &nbsp;&nbsp;10/09/26 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25086720 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** |
| Federation des Caisses Desjardins du Quebec (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.400% | &nbsp;&nbsp;08/23/25 | 25000 | &nbsp;&nbsp; $24980375 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, MTN, SOFR + 0.630% | 4.975(c) | &nbsp;&nbsp;01/27/27 | 83000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82907247 |
| Goldman Sachs Group, Inc. (The),<br> Sr. Unsec'd. Notes | 5.798(ff) | &nbsp;&nbsp;08/10/26 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50093696 |
| HSBC Holdings PLC (United Kingdom),<br> Sr. Unsec'd. Notes | 4.292(ff) | &nbsp;&nbsp;09/12/26 | 65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64882363 |
| Lloyds Banking Group PLC (United Kingdom),<br> Sr. Unsec'd. Notes | 4.716(ff) | &nbsp;&nbsp;08/11/26 | 32004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31983998 |
| Morgan Stanley,<br> Sr. Unsec'd. Notes, MTN | 4.679(ff) | &nbsp;&nbsp;07/17/26 | 41019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40997391 |
| Morgan Stanley Bank NA,<br> Sr. Unsec'd. Notes, SOFR + 0.685% | 5.029(c) | &nbsp;&nbsp;10/15/27 | 30420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30414068 |
| National Australia Bank Ltd. (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.500 | &nbsp;&nbsp;06/09/25 | &nbsp;&nbsp;7250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7248460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.966 | &nbsp;&nbsp;01/12/26 | 32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32089562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.600% | 4.945(c) | &nbsp;&nbsp;10/26/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20030020 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.650% | 4.997(c) | &nbsp;&nbsp;12/10/25 | 14286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14311889 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, MTN, SOFR + 0.500% | 4.851(c) | &nbsp;&nbsp;03/06/28 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24947868 |
| National Securities Clearing Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.350 | &nbsp;&nbsp;05/20/27 | 29250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29321492 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, SOFR + 0.570% | 4.917(c) | &nbsp;&nbsp;05/20/27 | &nbsp;&nbsp;9450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9458941 |
| NatWest Markets PLC (United Kingdom),<br> Sr. Unsec'd. Notes, 144A | 4.789 | &nbsp;&nbsp;03/21/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20062150 |
| Nordea Bank Abp (Finland), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A | 4.750 | &nbsp;&nbsp;09/22/25 | 10500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10500293 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A, SOFR + 0.740% | 5.088(c) | &nbsp;&nbsp;03/19/27 | &nbsp;&nbsp;5556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5575279 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A, MTN | 4.375 | &nbsp;&nbsp;03/17/28 | 24750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24770231 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A, MTN, SOFR + 0.700% | 5.047(c) | &nbsp;&nbsp;03/17/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19997000 |
| Royal Bank of Canada (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN, SOFR Index + 0.525% | 4.869(c) | &nbsp;&nbsp;01/20/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10004100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN, SOFR Index + 0.570% | 4.915(c) | &nbsp;&nbsp;04/27/26 | &nbsp;&nbsp;7027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7029829 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN, SOFR Index + 0.950% | 5.294(c) | &nbsp;&nbsp;01/19/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20133730 |
| Skandinaviska Enskilda Banken AB (Sweden), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A | 4.375 | &nbsp;&nbsp;06/02/28 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35063200 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Preferred Notes, 144A, SOFR + 0.750% | 5.103(c) | &nbsp;&nbsp;06/02/28 | 13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13518596 |
| State Street Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.536 | &nbsp;&nbsp;02/28/28 | 43400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43713506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.993 | &nbsp;&nbsp;03/18/27 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22774002 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** |
| Svenska Handelsbanken AB (Sweden),<br> Sr. Preferred Notes, 144A | 4.375% | &nbsp;&nbsp;05/23/28 | 14000 | &nbsp;&nbsp; $14035000 |
| Toronto-Dominion Bank (The) (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.574 | &nbsp;&nbsp;06/02/28 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22504068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.910% | 5.263(c) | &nbsp;&nbsp;06/02/28 | &nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7502957 |
| UBS Group AG (Switzerland), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;04/17/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9996430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.125 | &nbsp;&nbsp;04/15/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9957811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.711(ff) | &nbsp;&nbsp;01/12/27 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15070964 |
| Wells Fargo & Co.,<br> Sr. Unsec'd. Notes, MTN | 4.540(ff) | &nbsp;&nbsp;08/15/26 | 73000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72970674 |
| Wells Fargo Bank NA,<br> Sr. Unsec'd. Notes, SOFR + 0.710% | 5.054(c) | &nbsp;&nbsp;01/15/26 | 12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12813075 |
| Westpac Banking Corp. (Australia),<br> Sr. Unsec'd. Notes, 144A, SOFR + 0.500% | 4.847(c) | &nbsp;&nbsp;03/06/28 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24980373 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362476850 |
| **Beverages 1.3%** | **Beverages 1.3%** | **Beverages 1.3%** | **Beverages 1.3%** | **Beverages 1.3%** |
| Diageo Capital PLC (United Kingdom),<br> Gtd. Notes | 5.200 | &nbsp;&nbsp;10/24/25 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17024329 |
| Keurig Dr. Pepper, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.350 | &nbsp;&nbsp;05/15/28 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19932935 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, SOFR Index + 0.880% | 5.226(c) | &nbsp;&nbsp;03/15/27 | 26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26123201 |
| Molson Coors Beverage Co.,<br> Gtd. Notes | 3.000 | &nbsp;&nbsp;07/15/26 | &nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6882956 |
| PepsiCo, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.125 | &nbsp;&nbsp;11/10/26 | 26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26335615 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.250 | &nbsp;&nbsp;11/10/25 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50179396 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146478432 |
| **Biotechnology 0.4%** | **Biotechnology 0.4%** | **Biotechnology 0.4%** | **Biotechnology 0.4%** | **Biotechnology 0.4%** |
| Biogen, Inc.,<br> Sr. Unsec'd. Notes | 4.050 | &nbsp;&nbsp;09/15/25 | 36696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36667609 |
| Gilead Sciences, Inc.,<br> Sr. Unsec'd. Notes | 3.650 | &nbsp;&nbsp;03/01/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9934371 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46601980 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** |
| Owens Corning,<br> Sr. Unsec'd. Notes | 5.500% | &nbsp;&nbsp;06/15/27 | &nbsp;&nbsp;7976 | &nbsp;&nbsp; $8105927 |
| **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** |
| Nutrien Ltd. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;03/12/27 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49920100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.200 | &nbsp;&nbsp;06/21/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20234568 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.950 | &nbsp;&nbsp;11/07/25 | &nbsp;&nbsp;7250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7288933 |
| Sherwin-Williams Co. (The),<br> Sr. Unsec'd. Notes | 4.250 | &nbsp;&nbsp;08/08/25 | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5489170 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82932771 |
| **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** |
| Equifax, Inc.,<br> Sr. Unsec'd. Notes | 3.250 | &nbsp;&nbsp;06/01/26 | &nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7485200 |
| **Computers 1.5%** | **Computers 1.5%** | **Computers 1.5%** | **Computers 1.5%** | **Computers 1.5%** |
| Accenture Capital, Inc.,<br> Gtd. Notes | 3.900 | &nbsp;&nbsp;10/04/27 | 22940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22774407 |
| Apple, Inc.,<br> Sr. Unsec'd. Notes | 3.250 | &nbsp;&nbsp;02/23/26 | 13150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13034542 |
| Hewlett Packard Enterprise Co.,<br> Sr. Unsec'd. Notes | 4.900 | &nbsp;&nbsp;10/15/25 | 31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30997347 |
| IBM International Capital Pte Ltd.,<br> Gtd. Notes | 4.700 | &nbsp;&nbsp;02/05/26 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20019746 |
| International Business Machines Corp.,<br> Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;02/06/26 | 37000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36962531 |
| NetApp, Inc.,<br> Sr. Unsec'd. Notes | 1.875 | &nbsp;&nbsp;06/22/25 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49881999 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173670572 |
| **Cosmetics/Personal Care 0.2%** | **Cosmetics/Personal Care 0.2%** | **Cosmetics/Personal Care 0.2%** | **Cosmetics/Personal Care 0.2%** | **Cosmetics/Personal Care 0.2%** |
| Colgate-Palmolive Co.,<br> Sr. Unsec'd. Notes | 3.100 | &nbsp;&nbsp;08/15/25 | &nbsp;&nbsp;6750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6728441 |
| Unilever Capital Corp. (United Kingdom),<br> Gtd. Notes | 4.250 | &nbsp;&nbsp;08/12/27 | 13650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13687672 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20416113 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Diversified Financial Services 1.0%** | **Diversified Financial Services 1.0%** | **Diversified Financial Services 1.0%** | **Diversified Financial Services 1.0%** | **Diversified Financial Services 1.0%** |
| Citigroup Global Markets Holdings, Inc.,<br> Gtd. Notes, MTN, SOFR + 0.700% (Cap N/A, Floor 0.000%) | 5.044 %(c) | &nbsp;&nbsp;05/26/26 | 40000 | &nbsp;&nbsp; $40054270 |
| Jefferies Financial Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 5.000 | &nbsp;&nbsp;02/10/26 | 30300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30276034 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 5.030 | &nbsp;&nbsp;03/16/26 | 37000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36962729 |
| LSEG US Fin Corp. (United Kingdom),<br> Gtd. Notes, 144A | 4.875 | &nbsp;&nbsp;03/28/27 | &nbsp;&nbsp;7140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7187555 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114480588 |
| **Electric 3.1%** | **Electric 3.1%** | **Electric 3.1%** | **Electric 3.1%** | **Electric 3.1%** |
| Alliant Energy Finance LLC,<br> Gtd. Notes, 144A | 5.400 | &nbsp;&nbsp;06/06/27 | 10710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10812791 |
| DTE Electric Co.,<br> General Ref. Mortgage | 4.850 | &nbsp;&nbsp;12/01/26 | 42750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43189928 |
| DTE Energy Co.,<br> Sr. Unsec'd. Notes | 4.950 | &nbsp;&nbsp;07/01/27 | 14625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14744874 |
| Duke Energy Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.850 | &nbsp;&nbsp;01/05/27 | &nbsp;&nbsp;9333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9396720 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.000 | &nbsp;&nbsp;12/08/25 | 13250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13267898 |
| Duke Energy Progress LLC,<br> First Mortgage | 4.350 | &nbsp;&nbsp;03/06/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30096192 |
| Florida Power & Light Co.,<br> Sr. Unsec'd. Notes | 4.450 | &nbsp;&nbsp;05/15/26 | 16500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16500908 |
| Georgia Power Co.,<br> Sr. Unsec'd. Notes | 5.004 | &nbsp;&nbsp;02/23/27 | 10680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10821548 |
| NextEra Energy Capital Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.850 | &nbsp;&nbsp;02/04/28 | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11118920 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.950 | &nbsp;&nbsp;01/29/26 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19042829 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, SOFR Index + 0.760% | 5.105(c) | &nbsp;&nbsp;01/29/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30057503 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, SOFR Index + 0.800% | 5.144(c) | &nbsp;&nbsp;02/04/28 | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11001409 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.749 | &nbsp;&nbsp;09/01/25 | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4510234 |
| Pacific Gas & Electric Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;First Mortgage | 3.150 | &nbsp;&nbsp;01/01/26 | &nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9789287 |
| &nbsp;&nbsp;&nbsp;&nbsp;First Mortgage, SOFR Index + 0.950% | 5.300(c) | &nbsp;&nbsp;09/04/25 | 48500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48433823 |
| Southern California Edison Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;First Mortgage | 4.400 | &nbsp;&nbsp;09/06/26 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17925942 |
| &nbsp;&nbsp;&nbsp;&nbsp;First Mortgage | 5.350 | &nbsp;&nbsp;03/01/26 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12055766 |
| &nbsp;&nbsp;&nbsp;&nbsp;First Mortgage, Series C | 4.200 | &nbsp;&nbsp;06/01/25 | 14250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14250000 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** |
| WEC Energy Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.750% | &nbsp;&nbsp;01/09/26 | 23000 | &nbsp;&nbsp; $23004777 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.000 | &nbsp;&nbsp;09/27/25 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6001894 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356023243 |
| **Electronics 1.0%** | **Electronics 1.0%** | **Electronics 1.0%** | **Electronics 1.0%** | **Electronics 1.0%** |
| Amphenol Corp.,<br> Sr. Unsec'd. Notes | 5.050 | &nbsp;&nbsp;04/05/27 | 29290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29685920 |
| Fortive Corp.,<br> Sr. Unsec'd. Notes | 3.150 | &nbsp;&nbsp;06/15/26 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24623248 |
| Honeywell International, Inc.,<br> Sr. Unsec'd. Notes | 4.650 | &nbsp;&nbsp;07/30/27 | 34000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34181746 |
| Tyco Electronics Group SA (Switzerland),<br> Gtd. Notes | 4.500 | &nbsp;&nbsp;02/13/26 | 23250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23251604 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111742518 |
| **Foods 1.7%** | **Foods 1.7%** | **Foods 1.7%** | **Foods 1.7%** | **Foods 1.7%** |
| Hershey Co. (The),<br> Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;02/24/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12115558 |
| Mars, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.450 | &nbsp;&nbsp;03/01/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30030722 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.600 | &nbsp;&nbsp;03/01/28 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40191085 |
| Mondelez International Holdings Netherlands BV,<br> Gtd. Notes, 144A | 4.250 | &nbsp;&nbsp;09/15/25 | 13750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13720337 |
| Mondelez International, Inc.,<br> Sr. Unsec'd. Notes | 4.250 | &nbsp;&nbsp;05/06/28 | 47700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47652932 |
| Nestle Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.000 | &nbsp;&nbsp;09/12/25 | 11725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11705088 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.250 | &nbsp;&nbsp;03/13/26 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20147080 |
| Sysco Corp.,<br> Gtd. Notes | 3.300 | &nbsp;&nbsp;07/15/26 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13815171 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189377973 |
| **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** |
| Georgia-Pacific LLC,<br> Sr. Unsec'd. Notes, 144A | 4.400 | &nbsp;&nbsp;06/30/28 | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6007336 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Gas 0.3%** | **Gas 0.3%** | **Gas 0.3%** | **Gas 0.3%** | **Gas 0.3%** |
| NiSource, Inc.,<br> Sr. Unsec'd. Notes | 0.950% | &nbsp;&nbsp;08/15/25 | 32000 | &nbsp;&nbsp; $31740470 |
| **Healthcare-Products 0.7%** | **Healthcare-Products 0.7%** | **Healthcare-Products 0.7%** | **Healthcare-Products 0.7%** | **Healthcare-Products 0.7%** |
| Agilent Technologies, Inc.,<br> Sr. Unsec'd. Notes | 4.200 | &nbsp;&nbsp;09/09/27 | 20800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20683974 |
| Smith & Nephew PLC (United Kingdom),<br> Sr. Unsec'd. Notes | 5.150 | &nbsp;&nbsp;03/20/27 | &nbsp;&nbsp;6133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6186762 |
| Stryker Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;02/10/27 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30103797 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.700 | &nbsp;&nbsp;02/10/28 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22703156 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79677689 |
| **Healthcare-Services 0.7%** | **Healthcare-Services 0.7%** | **Healthcare-Services 0.7%** | **Healthcare-Services 0.7%** | **Healthcare-Services 0.7%** |
| Quest Diagnostics, Inc.,<br> Sr. Unsec'd. Notes | 4.600 | &nbsp;&nbsp;12/15/27 | &nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7432279 |
| Roche Holdings, Inc.,<br> Gtd. Notes, 144A | 5.265 | &nbsp;&nbsp;11/13/26 | 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60872435 |
| UnitedHealth Group, Inc.,<br> Sr. Unsec'd. Notes | 5.150 | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;5750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5758499 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74063213 |
| **Insurance 3.4%** | **Insurance 3.4%** | **Insurance 3.4%** | **Insurance 3.4%** | **Insurance 3.4%** |
| Arthur J Gallagher & Co.,<br> Sr. Unsec'd. Notes | 4.600 | &nbsp;&nbsp;12/15/27 | 23606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23660933 |
| Corebridge Global Funding, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.650 | &nbsp;&nbsp;08/20/27 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25050568 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, SOFR + 1.300% (Cap N/A, Floor 0.000%) | 5.650(c) | &nbsp;&nbsp;09/25/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30200422 |
| Marsh & McLennan Cos., Inc.,<br> Sr. Unsec'd. Notes, SOFR Index + 0.700% | 5.043(c) | &nbsp;&nbsp;11/08/27 | &nbsp;&nbsp;9110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9111387 |
| Metropolitan Life Global Funding I, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, MTN | 4.050 | &nbsp;&nbsp;08/25/25 | 23250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23222897 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, MTN, SOFR Index + 0.700% | 5.047(c) | &nbsp;&nbsp;06/11/27 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18999768 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, SOFR Index + 0.570% | 4.916(c) | &nbsp;&nbsp;04/09/26 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14015844 |
| New York Life Global Funding, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, MTN | 3.600 | &nbsp;&nbsp;08/05/25 | 19750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19713371 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, MTN, SOFR + 0.670% | 5.019(c) | &nbsp;&nbsp;04/02/27 | 55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55108635 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Insurance (cont'd.)** | **Insurance (cont'd.)** | **Insurance (cont'd.)** | **Insurance (cont'd.)** | **Insurance (cont'd.)** |
| Pacific Life Global Funding II, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, SOFR + 0.480% | 4.824 %(c) | &nbsp;&nbsp;02/04/27 | 30000 | &nbsp;&nbsp; $29957605 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, SOFR + 0.600% (Cap N/A, Floor 0.000%) | 4.950(c) | &nbsp;&nbsp;03/27/26 | 23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23037711 |
| Principal Life Global Funding II, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.600 | &nbsp;&nbsp;08/19/27 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25023874 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;01/16/27 | &nbsp;&nbsp;7714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7771747 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, SOFR + 0.900% (Cap N/A, Floor 0.000%) | 5.251(c) | &nbsp;&nbsp;08/28/25 | 27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27040770 |
| Protective Life Global Funding, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.335 | &nbsp;&nbsp;09/13/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19881795 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 4.992 | &nbsp;&nbsp;01/12/27 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19136694 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, MTN, SOFR + 0.700% (Cap N/A, Floor 0.000%) | 5.046(c) | &nbsp;&nbsp;04/10/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10011783 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380945804 |
| **Internet 0.3%** | **Internet 0.3%** | **Internet 0.3%** | **Internet 0.3%** | **Internet 0.3%** |
| Amazon.com, Inc.,<br> Sr. Unsec'd. Notes | 4.600 | &nbsp;&nbsp;12/01/25 | 32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32020000 |
| **Machinery-Construction & Mining 0.6%** | **Machinery-Construction & Mining 0.6%** | **Machinery-Construction & Mining 0.6%** | **Machinery-Construction & Mining 0.6%** | **Machinery-Construction & Mining 0.6%** |
| Caterpillar Financial Services Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.800 | &nbsp;&nbsp;01/06/26 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15013779 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.350 | &nbsp;&nbsp;05/15/26 | 52000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51977056 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66990835 |
| **Machinery-Diversified 0.9%** | **Machinery-Diversified 0.9%** | **Machinery-Diversified 0.9%** | **Machinery-Diversified 0.9%** | **Machinery-Diversified 0.9%** |
| CNH Industrial Capital LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 1.875 | &nbsp;&nbsp;01/15/26 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14740948 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.500 | &nbsp;&nbsp;10/08/27 | 10500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10477273 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.750 | &nbsp;&nbsp;03/21/28 | 15750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15779049 |
| John Deere Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.440% | 4.789(c) | &nbsp;&nbsp;03/06/26 | 21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21016265 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 4.800 | &nbsp;&nbsp;01/09/26 | 29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29030330 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN, SOFR + 0.600% | 4.947(c) | &nbsp;&nbsp;06/11/27 | 11635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11641965 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102685830 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Media 0.3%** | **Media 0.3%** | **Media 0.3%** | **Media 0.3%** | **Media 0.3%** |
| Walt Disney Co. (The),<br> Gtd. Notes | 3.700% | &nbsp;&nbsp;10/15/25 | 30000 | &nbsp;&nbsp; $29904852 |
| **Mining 0.7%** | **Mining 0.7%** | **Mining 0.7%** | **Mining 0.7%** | **Mining 0.7%** |
| BHP Billiton Finance USA Ltd. (Australia),<br> Gtd. Notes | 4.875 | &nbsp;&nbsp;02/27/26 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30082896 |
| Glencore Funding LLC (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.907 | &nbsp;&nbsp;04/01/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12047321 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR Index + 0.750% | 5.099(c) | &nbsp;&nbsp;10/01/26 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19966672 |
| Rio Tinto Finance USA PLC (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.375 | &nbsp;&nbsp;03/12/27 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10023716 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.500 | &nbsp;&nbsp;03/14/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12043423 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84164028 |
| **Miscellaneous Manufacturing 0.4%** | **Miscellaneous Manufacturing 0.4%** | **Miscellaneous Manufacturing 0.4%** | **Miscellaneous Manufacturing 0.4%** | **Miscellaneous Manufacturing 0.4%** |
| Siemens Funding BV (Netherlands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.350 | &nbsp;&nbsp;05/26/28 | 29900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29959489 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, SOFR + 0.640% | 4.990(c) | &nbsp;&nbsp;05/26/28 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18019150 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47978639 |
| **Oil & Gas 1.1%** | **Oil & Gas 1.1%** | **Oil & Gas 1.1%** | **Oil & Gas 1.1%** | **Oil & Gas 1.1%** |
| Cenovus Energy, Inc. (Canada),<br> Sr. Unsec'd. Notes | 4.250 | &nbsp;&nbsp;04/15/27 | 33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32723407 |
| Chevron USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.405 | &nbsp;&nbsp;02/26/27 | 33900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34117769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.475 | &nbsp;&nbsp;02/26/28 | 33900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34222537 |
| Pioneer Natural Resources Co.,<br> Sr. Unsec'd. Notes | 1.125 | &nbsp;&nbsp;01/15/26 | 21470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21020315 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122084028 |
| **Oil & Gas Services 0.4%** | **Oil & Gas Services 0.4%** | **Oil & Gas Services 0.4%** | **Oil & Gas Services 0.4%** | **Oil & Gas Services 0.4%** |
| Schlumberger Holdings Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 3.900 | &nbsp;&nbsp;05/17/28 | 22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22134144 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;05/29/27 | 23750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23980376 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46114520 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Pharmaceuticals 1.5%** | **Pharmaceuticals 1.5%** | **Pharmaceuticals 1.5%** | **Pharmaceuticals 1.5%** | **Pharmaceuticals 1.5%** |
| AbbVie, Inc.,<br> Sr. Unsec'd. Notes | 4.650% | &nbsp;&nbsp;03/15/28 | 49500 | &nbsp;&nbsp; $49996111 |
| Astrazeneca Finance LLC (United Kingdom),<br> Gtd. Notes | 4.800 | &nbsp;&nbsp;02/26/27 | 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25255702 |
| Bristol-Myers Squibb Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, SOFR + 0.490% | 4.837(c) | &nbsp;&nbsp;02/20/26 | &nbsp;&nbsp;6170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6177248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.900 | &nbsp;&nbsp;02/22/27 | &nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7587041 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.950 | &nbsp;&nbsp;02/20/26 | &nbsp;&nbsp;9250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9272680 |
| GlaxoSmithKline Capital PLC (United Kingdom),<br> Gtd. Notes | 4.315 | &nbsp;&nbsp;03/12/27 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35089565 |
| GlaxoSmithKline Capital, Inc. (United Kingdom),<br> Gtd. Notes | 3.875 | &nbsp;&nbsp;05/15/28 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11882167 |
| Johnson & Johnson,<br> Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;03/01/28 | 19800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20076633 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165337147 |
| **Pipelines 1.7%** | **Pipelines 1.7%** | **Pipelines 1.7%** | **Pipelines 1.7%** | **Pipelines 1.7%** |
| Enbridge, Inc. (Canada),<br> Gtd. Notes | 5.250 | &nbsp;&nbsp;04/05/27 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19202321 |
| Enterprise Products Operating LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.600 | &nbsp;&nbsp;01/11/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20097058 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.050 | &nbsp;&nbsp;01/10/26 | 14750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14788388 |
| MPLX LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 1.750 | &nbsp;&nbsp;03/01/26 | 19379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18958310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.125 | &nbsp;&nbsp;03/01/27 | &nbsp;&nbsp;7530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7472039 |
| ONEOK, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 2.200 | &nbsp;&nbsp;09/15/25 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17859678 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.000 | &nbsp;&nbsp;07/13/27 | &nbsp;&nbsp;6210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6137585 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.250 | &nbsp;&nbsp;09/24/27 | 33740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33523837 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.000 | &nbsp;&nbsp;03/01/26 | 10560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10569092 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.550 | &nbsp;&nbsp;11/01/26 | &nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7079144 |
| Williams Cos., Inc. (The),<br> Sr. Unsec'd. Notes | 5.400 | &nbsp;&nbsp;03/02/26 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40227338 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195914790 |
| **Real Estate Investment Trusts (REITs) 0.9%** | **Real Estate Investment Trusts (REITs) 0.9%** | **Real Estate Investment Trusts (REITs) 0.9%** | **Real Estate Investment Trusts (REITs) 0.9%** | **Real Estate Investment Trusts (REITs) 0.9%** |
| Alexandria Real Estate Equities, Inc.,<br> Gtd. Notes | 3.800 | &nbsp;&nbsp;04/15/26 | &nbsp;&nbsp;3370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3343837 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** |
| Public Storage Operating Co.,<br> Gtd. Notes, SOFR Index + 0.700% | 5.044 %(c) | &nbsp;&nbsp;04/16/27 | 19773 | &nbsp;&nbsp; $19777093 |
| Welltower OP LLC,<br> Gtd. Notes | 4.000 | &nbsp;&nbsp;06/01/25 | 40184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40184000 |
| Weyerhaeuser Co.,<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;05/15/26 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40066931 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103371861 |
| **Retail 1.4%** | **Retail 1.4%** | **Retail 1.4%** | **Retail 1.4%** | **Retail 1.4%** |
| Home Depot, Inc. (The),<br> Sr. Unsec'd. Notes | 4.875 | &nbsp;&nbsp;06/25/27 | 21700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21997205 |
| Lowe's Cos., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.500 | &nbsp;&nbsp;04/15/26 | 24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23600313 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.400 | &nbsp;&nbsp;09/08/25 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9991829 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.800 | &nbsp;&nbsp;04/01/26 | 13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13530621 |
| McDonald's Corp.,<br> Sr. Unsec'd. Notes, MTN | 3.300 | &nbsp;&nbsp;07/01/25 | 16249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16231369 |
| Starbucks Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;05/15/28 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29977990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.850 | &nbsp;&nbsp;02/08/27 | 34375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34601033 |
| Walmart, Inc.,<br> Sr. Unsec'd. Notes | 3.900 | &nbsp;&nbsp;09/09/25 | 13750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13728112 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163658472 |
| **Semiconductors 1.3%** | **Semiconductors 1.3%** | **Semiconductors 1.3%** | **Semiconductors 1.3%** | **Semiconductors 1.3%** |
| Broadcom, Inc.,<br> Sr. Unsec'd. Notes | 4.800 | &nbsp;&nbsp;04/15/28 | 68800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69596828 |
| Intel Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.600 | &nbsp;&nbsp;05/19/26 | 10181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9987654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.700 | &nbsp;&nbsp;07/29/25 | 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44896325 |
| Microchip Technology, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.250 | &nbsp;&nbsp;09/01/25 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11977329 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.900 | &nbsp;&nbsp;03/15/28 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16054628 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152512764 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Software 0.8%** | **Software 0.8%** | **Software 0.8%** | **Software 0.8%** | **Software 0.8%** |
| Cadence Design Systems, Inc.,<br> Sr. Unsec'd. Notes | 4.200% | &nbsp;&nbsp;09/10/27 | &nbsp;&nbsp;6300 | &nbsp;&nbsp; $6275202 |
| Fidelity National Information Services, Inc.,<br> Sr. Unsec'd. Notes | 1.150 | &nbsp;&nbsp;03/01/26 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4872114 |
| Fiserv, Inc.,<br> Sr. Unsec'd. Notes | 5.150 | &nbsp;&nbsp;03/15/27 | 17187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17366893 |
| Intuit, Inc.,<br> Sr. Unsec'd. Notes | 5.250 | &nbsp;&nbsp;09/15/26 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50549816 |
| Roper Technologies, Inc.,<br> Sr. Unsec'd. Notes | 1.000 | &nbsp;&nbsp;09/15/25 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14840338 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93904363 |
| **Telecommunications 0.6%** | **Telecommunications 0.6%** | **Telecommunications 0.6%** | **Telecommunications 0.6%** | **Telecommunications 0.6%** |
| Cisco Systems, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.950 | &nbsp;&nbsp;02/28/26 | 19573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19375664 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.550 | &nbsp;&nbsp;02/24/28 | 27500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27778487 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.800 | &nbsp;&nbsp;02/26/27 | 24828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25079788 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72233939 |
| **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** |
| Ryder System, Inc.,<br> Sr. Unsec'd. Notes, MTN | 5.300 | &nbsp;&nbsp;03/15/27 | &nbsp;&nbsp;9483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9598495 |
| Union Pacific Corp.,<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;02/21/26 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16016363 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25614858 |
| **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** |
| Penske Truck Leasing Co. LP/PTL Finance Corp.,<br> Sr. Unsec'd. Notes, 144A | 5.750 | &nbsp;&nbsp;05/24/26 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17658769 |
| **Total Corporate Bonds<br> (cost $5,649,219,139)** | **Total Corporate Bonds<br> (cost $5,649,219,139)** | **Total Corporate Bonds<br> (cost $5,649,219,139)** | **Total Corporate Bonds<br> (cost $5,649,219,139)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5664913761 |
| **Residential Mortgage-Backed Securities 0.1%** | **Residential Mortgage-Backed Securities 0.1%** | **Residential Mortgage-Backed Securities 0.1%** | **Residential Mortgage-Backed Securities 0.1%** | **Residential Mortgage-Backed Securities 0.1%** |
| Credit Suisse Mortgage Trust,<br> Series 2019-RPL01, Class A1A, 144A | 3.650(cc) | &nbsp;&nbsp;07/25/58 | &nbsp;&nbsp;3375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3301256 |
| Towd Point Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-06, Class M1, 144A | 3.750(cc) | &nbsp;&nbsp;04/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447503 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** |
| Towd Point Mortgage Trust, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-02, Class A1, 144A | 3.250 %(cc) | &nbsp;&nbsp;03/25/58 | &nbsp;&nbsp;2635 | &nbsp;&nbsp; $2594988 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-05, Class A1A, 144A | 3.250(cc) | &nbsp;&nbsp;07/25/58 | &nbsp;&nbsp;2995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2952246 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-SJ01, Class A1, 144A | 2.250(cc) | &nbsp;&nbsp;07/25/68 | &nbsp;&nbsp;4890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4684174 |
| **Total Residential Mortgage-Backed Securities<br> (cost $14,083,236)** | **Total Residential Mortgage-Backed Securities<br> (cost $14,083,236)** | **Total Residential Mortgage-Backed Securities<br> (cost $14,083,236)** | **Total Residential Mortgage-Backed Securities<br> (cost $14,083,236)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13980167 |
| **U.S. Treasury Obligations(k) 0.3%** | **U.S. Treasury Obligations(k) 0.3%** | **U.S. Treasury Obligations(k) 0.3%** | **U.S. Treasury Obligations(k) 0.3%** | **U.S. Treasury Obligations(k) 0.3%** |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;11/15/27 | 31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31171953 |
| U.S. Treasury Notes | 4.250 | &nbsp;&nbsp;01/15/28 | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018437 |
| **Total U.S. Treasury Obligations<br> (cost $32,894,410)** | **Total U.S. Treasury Obligations<br> (cost $32,894,410)** | **Total U.S. Treasury Obligations<br> (cost $32,894,410)** | **Total U.S. Treasury Obligations<br> (cost $32,894,410)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33190390 |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Shares** |  |  |  |
| **Affiliated Exchange-Traded Fund 0.8%** | **Affiliated Exchange-Traded Fund 0.8%** | **Affiliated Exchange-Traded Fund 0.8%** |  |
| PGIM AAA CLO ETF<br> (cost $92,103,783)(wa) | &nbsp;&nbsp;1797750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92404350 |  |
| **Total Long-Term Investments<br> (cost $8,937,980,528)** | **Total Long-Term Investments<br> (cost $8,937,980,528)** |  | &nbsp;&nbsp;&nbsp;&nbsp;8968360298 |

---

---

| | | |
|:---|:---|:---|
| **Short-Term Investments 22.2%** | **Short-Term Investments 22.2%** | **Short-Term Investments 22.2%** |
| **Affiliated Mutual Fund 2.1%** |  |  |
| PGIM Core Government Money Market Fund (7-day effective yield 4.462%)<br> (cost $240,197,126)(wa) | &nbsp;&nbsp;240197126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240197126 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | **Principal<br> Amount<br> (000)#** |  |
| **Certificates of Deposit 2.8%** | **Certificates of Deposit 2.8%** | **Certificates of Deposit 2.8%** | **Certificates of Deposit 2.8%** | **Certificates of Deposit 2.8%** |
| Bank of America NA, SOFR + 0.350% | 4.640 %(c) | &nbsp;&nbsp;07/30/25 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10002953 |
| Canadian Imperial Bank of Commerce, SOFR + 0.340% (Cap N/A, Floor 0.000%) | 4.670(c) | &nbsp;&nbsp;06/04/25 | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31001144 |
| Citibank NA, SOFR + 0.310% (Cap N/A, Floor 0.000%) | 4.640(c) | &nbsp;&nbsp;08/26/25 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10002320 |
| Credit Agricole Corporate & Investment Bank | 4.510 | &nbsp;&nbsp;10/21/25 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19998424 |
| Intesa Sanpaolo SpA | 4.750 | &nbsp;&nbsp;09/30/25 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90012321 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Certificates of Deposit (Continued)** | **Certificates of Deposit (Continued)** | **Certificates of Deposit (Continued)** | **Certificates of Deposit (Continued)** | **Certificates of Deposit (Continued)** |
| State Street Bank & Trust Co., SOFR + 0.220% | 4.550 %(c) | &nbsp;&nbsp;07/25/25 | 12000 | &nbsp;&nbsp; $12001435 |
| Svenska Handelsbanken | 4.500 | &nbsp;&nbsp;10/23/25 | 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44997192 |
| Svenska Handelsbanken | 4.605 | &nbsp;&nbsp;11/12/25 | 13250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13255234 |
| Svenska Handelsbanken, SOFR + 0.400% | 4.730(c) | &nbsp;&nbsp;04/15/26 | 24500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24524066 |
| Swedbank AB | 4.500 | &nbsp;&nbsp;10/15/25 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29996028 |
| Toronto-Dominion Bank (The), SOFR + 0.450% | 4.780(c) | &nbsp;&nbsp;04/23/26 | 27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27030545 |
| **Total Certificates of Deposit<br> (cost $312,750,292)** | **Total Certificates of Deposit<br> (cost $312,750,292)** | **Total Certificates of Deposit<br> (cost $312,750,292)** | **Total Certificates of Deposit<br> (cost $312,750,292)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312821662 |
| **Commercial Paper 17.3%** | **Commercial Paper 17.3%** | **Commercial Paper 17.3%** | **Commercial Paper 17.3%** | **Commercial Paper 17.3%** |
| AbbVie, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.725(n) | &nbsp;&nbsp;09/02/25 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19757354 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.727(n) | &nbsp;&nbsp;09/05/25 | 11040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10901875 |
| Alexandria Real Estate Equities, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.691(n) | &nbsp;&nbsp;06/06/25 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39964532 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.693(n) | &nbsp;&nbsp;06/20/25 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49866645 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.710(n) | &nbsp;&nbsp;06/02/25 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17493368 |
| Alimentation Couche-Tard, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.661(n) | &nbsp;&nbsp;06/02/25 | 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39984504 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.680(n) | &nbsp;&nbsp;06/25/25 | 29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28901652 |
| Australia & New Zealand Banking Group Ltd.,<br> 144A | 4.558(n) | &nbsp;&nbsp;10/27/25 | 41500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40749543 |
| Bank of America Securities, Inc.,<br> 144A | 4.580(cc) | &nbsp;&nbsp;05/28/26 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34983102 |
| Bank of Montreal, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.350% | 4.650(c) | &nbsp;&nbsp;07/22/25 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19005616 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.370% | 4.630(c) | &nbsp;&nbsp;05/27/26 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17003359 |
| BASF SE,<br> 144A | 4.774(n) | &nbsp;&nbsp;10/17/25 | 39000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38294498 |
| Bayer Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.737(n) | &nbsp;&nbsp;07/14/25 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34795250 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.737(n) | &nbsp;&nbsp;07/15/25 | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17395396 |
| Bell Canada, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.719(n) | &nbsp;&nbsp;06/12/25 | 22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21964606 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.723(n) | &nbsp;&nbsp;06/18/25 | 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44894065 |
| BNP Paribas SA,<br> 144A | 4.594(n) | &nbsp;&nbsp;11/19/25 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17624291 |
| BPCE SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.570(n) | &nbsp;&nbsp;10/10/25 | 47000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46237232 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.688(n) | &nbsp;&nbsp;11/13/25 | &nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9404751 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** |
| Broadcom, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.606 %(n) | &nbsp;&nbsp;06/03/25 | &nbsp;&nbsp;8000 | &nbsp;&nbsp; $7995928 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.761(n) | &nbsp;&nbsp;10/21/25 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11780304 |
| Cabot Corp.,<br> 144A | 4.658(n) | &nbsp;&nbsp;06/04/25 | 23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22985482 |
| CBRE Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.767(n) | &nbsp;&nbsp;06/12/25 | 70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69879663 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.777(n) | &nbsp;&nbsp;07/10/25 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14918142 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.928(n) | &nbsp;&nbsp;06/04/25 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19986826 |
| Dollar Tree, Inc.,<br> 144A | 4.758(n) | &nbsp;&nbsp;06/06/25 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49954985 |
| Dow Chemical Co. (The) | 4.708(n) | &nbsp;&nbsp;06/20/25 | 35500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35403525 |
| Dow Chemical Co. (The) | 4.711(n) | &nbsp;&nbsp;06/24/25 | 12300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12260317 |
| Dow Chemical Co. (The) | 4.711(n) | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8172505 |
| E.ON AG, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.788(n) | &nbsp;&nbsp;06/27/25 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17935511 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.789(n) | &nbsp;&nbsp;06/23/25 | 42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41870665 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.789(n) | &nbsp;&nbsp;06/24/25 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17942301 |
| Enbridge (U.S.) Inc.,<br> 144A | 4.836(n) | &nbsp;&nbsp;06/16/25 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9978208 |
| ERP Operating LP,<br> 144A | 4.747(n) | &nbsp;&nbsp;09/02/25 | 55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54332723 |
| Essential Utilities, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.635(n) | &nbsp;&nbsp;06/05/25 | 57000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56956800 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.725(n) | &nbsp;&nbsp;06/18/25 | 22200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22146260 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.770(n) | &nbsp;&nbsp;06/02/25 | 14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14494516 |
| Givaudan (U.S.) Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.718(n) | &nbsp;&nbsp;06/06/25 | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10990183 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.720(n) | &nbsp;&nbsp;06/09/25 | 19500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19475089 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.730(n) | &nbsp;&nbsp;06/23/25 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49845720 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.789(n) | &nbsp;&nbsp;07/14/25 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18890275 |
| Glencore Funding LLC,<br> 144A | 4.685(n) | &nbsp;&nbsp;06/23/25 | 72000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71780407 |
| HCP, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.658(n) | &nbsp;&nbsp;06/17/25 | 43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42898559 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.696(n) | &nbsp;&nbsp;06/24/25 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49836250 |
| ING (U.S.) Funding LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.350% | 4.660(c) | &nbsp;&nbsp;07/28/25 | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30010842 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.350% | 4.660(c) | &nbsp;&nbsp;09/03/25 | 35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35016789 |
| JPMorgan Securities LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.340% | 4.650(c) | &nbsp;&nbsp;01/27/26 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17003671 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** |
| JPMorgan Securities LLC, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.380% | 4.710 %(c) | &nbsp;&nbsp;01/02/26 | &nbsp;&nbsp;15250 | &nbsp;&nbsp; $15259493 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.430% | 4.760(c) | &nbsp;&nbsp;12/10/25 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15008995 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A, SOFR + 0.430% | 4.790(c) | &nbsp;&nbsp;04/29/26 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45030755 |
| Nutrien Ltd.,<br> 144A | 4.731(n) | &nbsp;&nbsp;06/17/25 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14965025 |
| NXP BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.692(n) | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34941344 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.720(n) | &nbsp;&nbsp;06/09/25 | &nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14481350 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.720(n) | &nbsp;&nbsp;06/10/25 | &nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14479469 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.757(n) | &nbsp;&nbsp;08/28/25 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19768000 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.778(n) | &nbsp;&nbsp;07/14/25 | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12924681 |
| Royal Bank of Canada,<br> 144A, SOFR + 0.340% | 4.670(c) | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000602 |
| Suncor Energy, Inc.,<br> 144A | 4.796(n) | &nbsp;&nbsp;06/05/25 | 100250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100173018 |
| Swedbank AB,<br> 144A, SOFR + 0.350% | 4.660(c) | &nbsp;&nbsp;07/21/25 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30010170 |
| Toronto-Dominion Bank (The),<br> 144A | 0.000 | &nbsp;&nbsp;10/10/25 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34433347 |
| TransCanada PipeLines Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.656(n) | &nbsp;&nbsp;06/02/25 | &nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14494480 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.657(n) | &nbsp;&nbsp;06/03/25 | &nbsp;&nbsp;18500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18490604 |
| UDR, Inc.,<br> 144A | 4.667(n) | &nbsp;&nbsp;06/18/25 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24939018 |
| VW Credit, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.762(n) | &nbsp;&nbsp;06/16/25 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9977988 |
| &nbsp;&nbsp;&nbsp;&nbsp;144A | 4.786(n) | &nbsp;&nbsp;07/24/25 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9929849 |
| Welltower, Inc.,<br> 144A | 4.684(n) | &nbsp;&nbsp;06/04/25 | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76950974 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** | **Commercial Paper (Continued)** |
| Westpac Banking Corp.,<br> 144A, SOFR + 0.330% | 4.640 %(c) | &nbsp;&nbsp;08/29/25 | 50000 | &nbsp;&nbsp; $50022555 |
| **Total Commercial Paper<br> (cost $1,960,331,159)** | **Total Commercial Paper<br> (cost $1,960,331,159)** | **Total Commercial Paper<br> (cost $1,960,331,159)** | **Total Commercial Paper<br> (cost $1,960,331,159)** | &nbsp;&nbsp;&nbsp;&nbsp;1960245802 |
| **Total Short-Term Investments<br> (cost $2,513,278,577)** | **Total Short-Term Investments<br> (cost $2,513,278,577)** | **Total Short-Term Investments<br> (cost $2,513,278,577)** | **Total Short-Term Investments<br> (cost $2,513,278,577)** | &nbsp;&nbsp;&nbsp;&nbsp;2513264590 |
| **TOTAL INVESTMENTS 101.3%<br> (cost $11,451,259,105)** | **TOTAL INVESTMENTS 101.3%<br> (cost $11,451,259,105)** | **TOTAL INVESTMENTS 101.3%<br> (cost $11,451,259,105)** | **TOTAL INVESTMENTS 101.3%<br> (cost $11,451,259,105)** | &nbsp;&nbsp;&nbsp;11481624888 |
| Liabilities in excess of other assets(z) (1.3)% | Liabilities in excess of other assets(z) (1.3)% | Liabilities in excess of other assets(z) (1.3)% | Liabilities in excess of other assets(z) (1.3)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142184825) |
| **Net Assets 100.0%** | **Net Assets 100.0%** | **Net Assets 100.0%** | **Net Assets 100.0%** | $11339440063 |

---

------

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

---

| |
|:---|
| 144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. |
| A—Annual payment frequency for swaps |
| CLO—Collateralized Loan Obligation |
| ETF—Exchange-Traded Fund |
| GMTN—Global Medium Term Note |
| LP—Limited Partnership |
| MTN—Medium Term Note |
| N/A—Not Applicable |
| REITs—Real Estate Investment Trust |
| S—Semiannual payment frequency for swaps |
| SOFR—Secured Overnight Financing Rate |

---

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

(c) Variable rate instrument. The interest rate shown reflects the rate in effect at May 31, 2025.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of May 31, 2025. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.

(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.

(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.

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

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

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

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** |
| **Number<br> of<br> Contracts** | **Type** | **Expiration<br> Date** | **Current<br> Notional<br> Amount** | **Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** |
| 16 | 3 Month SOFR | Jun. 2025 | $3826200 | $32221 |
| 16 | 3 Month SOFR | Sep. 2025 | &nbsp;&nbsp;&nbsp;3827500 | &nbsp;&nbsp;&nbsp;33883 |
| 16 | 3 Month SOFR | Dec. 2025 | &nbsp;&nbsp;&nbsp;3836800 | &nbsp;&nbsp;&nbsp;26346 |
|  |  |  |  | $92450 |

---

#### Interest rate swap agreements outstanding at May 31, 2025 :

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Floating<br> Rate** | &nbsp;&nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;&nbsp;**Value at<br> May 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** |
| 28750 | &nbsp;&nbsp;06/29/25 | &nbsp;&nbsp;3.083%(S) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $6626 | &nbsp;&nbsp;&nbsp; $503872 | &nbsp;&nbsp;&nbsp; $497246 |
| 57000 | &nbsp;&nbsp;06/29/25 | &nbsp;&nbsp;3.086%(S) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14309) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994012 |
| 53250 | &nbsp;&nbsp;08/17/25 | &nbsp;&nbsp;2.957%(S) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893919 |
| 95500 | &nbsp;&nbsp;09/08/25 | &nbsp;&nbsp;3.422%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48253 | &nbsp;&nbsp;&nbsp;&nbsp;1103577 | &nbsp;&nbsp;&nbsp;&nbsp;1055324 |
| 188500 | &nbsp;&nbsp;10/07/25 | &nbsp;&nbsp;3.955%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997419 | &nbsp;&nbsp;&nbsp;&nbsp;1015542 |
| 22750 | &nbsp;&nbsp;10/21/25 | &nbsp;&nbsp;4.378%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2173) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19667 |
| 57500 | &nbsp;&nbsp;11/09/25 | &nbsp;&nbsp;4.492%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45481) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92840) |
| 216000 | &nbsp;&nbsp;12/01/25 | &nbsp;&nbsp;4.041%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2851) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726939 |
| 46750 | &nbsp;&nbsp;01/11/26 | &nbsp;&nbsp;3.783%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251122 |
| 45000 | &nbsp;&nbsp;02/01/26 | &nbsp;&nbsp;3.850%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181382 |
| 70000 | &nbsp;&nbsp;02/27/26 | &nbsp;&nbsp;4.345%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75588) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77626) |
| 120100 | &nbsp;&nbsp;02/28/26 | &nbsp;&nbsp;4.453%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(258207) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(328778) |
| 4700 | &nbsp;&nbsp;03/02/26 | &nbsp;&nbsp;4.030%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(735) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9985 |
| 75000 | &nbsp;&nbsp;05/17/26 | &nbsp;&nbsp;3.535%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395741 |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

#### Interest rate swap agreements outstanding at May 31, 2025 (continued):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Floating<br> Rate** | &nbsp;&nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;&nbsp;**Value at<br> May 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |
| 73000 | &nbsp;&nbsp;05/22/26 | &nbsp;&nbsp;4.171%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(77614) | &nbsp;&nbsp;&nbsp;&nbsp; $(77614) |
| 60000 | &nbsp;&nbsp;08/18/26 | &nbsp;&nbsp;4.442%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(242136) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(318331) |
| 8700 | &nbsp;&nbsp;08/21/26 | &nbsp;&nbsp;3.781%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76068 |
| 18000 | &nbsp;&nbsp;09/05/26 | &nbsp;&nbsp;3.680%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169421 |
| 242500 | &nbsp;&nbsp;09/14/26 | &nbsp;&nbsp;4.550%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91030) | &nbsp;&nbsp;&nbsp;&nbsp;(1862069) | &nbsp;&nbsp;&nbsp;&nbsp;(1771039) |
| 25000 | &nbsp;&nbsp;11/20/26 | &nbsp;&nbsp;4.077%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38446) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38446) |
| 299000 | &nbsp;&nbsp;01/04/27 | &nbsp;&nbsp;3.834%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;1376166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(821814) |
| 86000 | &nbsp;&nbsp;02/13/27 | &nbsp;&nbsp;4.527%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(380493) | &nbsp;&nbsp;&nbsp;&nbsp;(1115014) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(734521) |
| 217200 | &nbsp;&nbsp;03/05/27 | &nbsp;&nbsp;3.859%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(183641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116179) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67462 |
| 92190 | &nbsp;&nbsp;03/18/27 | &nbsp;&nbsp;4.304%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(273490) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(875438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(601948) |
| 35000 | &nbsp;&nbsp;05/21/27 | &nbsp;&nbsp;4.050%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(228207) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(228207) |
| 195450 | &nbsp;&nbsp;05/23/27 | &nbsp;&nbsp;4.463%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(715276) | &nbsp;&nbsp;&nbsp;&nbsp;(2843047) | &nbsp;&nbsp;&nbsp;&nbsp;(2127771) |
| 67530 | &nbsp;&nbsp;08/09/27 | &nbsp;&nbsp;3.600%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(103612) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752175 |
| 79740 | &nbsp;&nbsp;09/12/27 | &nbsp;&nbsp;3.212%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47055 | &nbsp;&nbsp;&nbsp;&nbsp;1521043 | &nbsp;&nbsp;&nbsp;&nbsp;1473988 |
| 28700 | &nbsp;&nbsp;11/15/27 | &nbsp;&nbsp;3.630%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52808) |
| 53970 | &nbsp;&nbsp;11/25/27 | &nbsp;&nbsp;4.000%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80026) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(359552) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(279526) |
| 70000 | &nbsp;&nbsp;01/07/28 | &nbsp;&nbsp;4.110%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(775934) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(789589) |

---

------

### PGIM Ultra Short Bond ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

#### Interest rate swap agreements outstanding at May 31, 2025 (continued):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Floating<br> Rate** | &nbsp;&nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;&nbsp;**Value at<br> May 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |
| 299600 | &nbsp;&nbsp;01/16/28 | &nbsp;&nbsp;4.249%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp; $(1269495) | &nbsp;&nbsp; $(4581156) | &nbsp;&nbsp; $(3311661) |
| 131615 | &nbsp;&nbsp;02/27/28 | &nbsp;&nbsp;3.860%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;(1239598) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(680659) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558939 |
|  |  |  |  | &nbsp;&nbsp;$(2476029) | &nbsp;&nbsp;$(4989616) | &nbsp;&nbsp;$(2513587) |

---

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

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Newark

  - **State:** NJ

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** PGIM Ultra Short Bond ETF

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

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

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-30

**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:** $11532964209.58

**Total Liabilities:** $202259509.38

**Net Assets:** $11330704700.20

**Cash Not Reported:** $110425559.86

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 65418.36959000 | **1-Year:** 525128.05056000 | **5-Year:** 473110.89447000 | **10-Year:** 7215.93984000 | **30-Year:** 237.00360000

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

- **3-Month:** 0.00000000 | **1-Year:** 3194.65583000 | **5-Year:** 8539.61719000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000199488 | 0.31%                | 0.25%                | 0.58%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1232866.81              | $-5121378.50                               |
| Month 2  | $2289664.34              | $-2756903.02                               |
| Month 3  | $2084688.67              | $-960817.92                                |

**Designated Index Information**

- **Index Name:** PGIM Ultra Short Bond ETF - ExDerivatives

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                             | Title                                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO MERCANTILE EXCHANGE INC.                 | Three-Month SOFR                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -16 | NC      | $26345.72     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-77361.72    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL SECS CLEARING                           | National Securities Clearing Corp                                  | CUSIP: 637639AN5<br>LEI: 549300RYC9NELN2ICA34 | Long             | DBT              | CORP              | US        |  29250000 | PA      | $29321492.27  | 0.26%             | 2027-05-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680AS2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   6210000 | PA      | $6137584.63   | 0.05%             | 2027-07-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMP BK COMM NY                          | Canadian Imperial Bank of Commerce/New York NY                     | CUSIP: 13606DHZ8<br>LEI: 549300H8L46OOZOFHU82 | Long             | DBT              | CORP              | CA        |  17500000 | PA      | $17527083.00  | 0.15%             | 2026-05-08      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| BAYERCORP                                        | BAYERCORP                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34795250.00  | 0.31%             | 2025-07-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                  | Nordea Bank Abp                                                    | CUSIP: 65558RAF6<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   5556000 | PA      | $5575279.32   | 0.05%             | 2027-03-19      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-BNK1                    | CUSIP: 95000GAX2<br>LEI: 549300DNBJ7A0SEFVK31 | Long             | ABS-MBS          | CORP              | US        |  15903178 | PA      | $15512498.49  | 0.14%             | 2049-08-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-P4                        | CUSIP: 29429EAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3634845 | PA      | $3566177.30   | 0.03%             | 2049-07-10      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                 | Duke Energy Corp                                                   | CUSIP: 26441CBV6<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |  13250000 | PA      | $13267897.44  | 0.12%             | 2025-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORTIVE CORPORATION                              | Fortive Corp                                                       | CUSIP: 34959JAG3<br>LEI: 549300MU9YQJYHDQEF63 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24623248.25  | 0.22%             | 2026-06-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                  | Nordea Bank Abp                                                    | CUSIP: 65558RAM1<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |  20000000 | PA      | $19997000.00  | 0.18%             | 2028-03-17      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-45630.42    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                         | Principal Life Global Funding II                                   | CUSIP: 74256LFA2<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25023873.50  | 0.22%             | 2027-08-19      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                   | Amazon.com Inc                                                     | CUSIP: 023135CN4<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |  32000000 | PA      | $32020000.00  | 0.28%             | 2025-12-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                     | Enbridge Inc                                                       | CUSIP: 29250NCA1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  19000000 | PA      | $19202321.50  | 0.17%             | 2027-04-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd                                 | GREYWOLF CLO VII Ltd                                               | CUSIP: 39809AAA6<br>LEI: 5493005EEKUYF0Q6Z361 | Long             | ABS-CBDO         | CORP              | KY        |   3543782 | PA      | $3551932.80   | 0.03%             | 2031-10-20      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| SKANDINAVISKA ENSKILDA                           | Skandinaviska Enskilda Banken AB                                   | CUSIP: 830505BC6<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |  13500000 | PA      | $13518596.25  | 0.12%             | 2028-06-02      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| NESTLE HOLDINGS INC                              | Nestle Holdings Inc                                                | CUSIP: 641062BK9<br>LEI: 549300EAEU8YV8MQXP30 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20147080.20  | 0.18%             | 2026-03-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                         | Microchip Technology Inc                                           | CUSIP: 595017BA1<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $11977329.12  | 0.11%             | 2025-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                         | Volkswagen Group of America Finance LLC                            | CUSIP: 928668BR2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  13250000 | PA      | $13248633.93  | 0.12%             | 2025-06-06      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Atlas Senior Loan Fund LTD                       | Atlas Senior Loan Fund XVII Ltd                                    | CUSIP: 04942FAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  42500000 | PA      | $42470488.00  | 0.37%             | 2034-10-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                               | BMW US Capital LLC                                                 | CUSIP: 05565ECW3<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  29800000 | PA      | $29957966.82  | 0.26%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $999840.73    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                           | Commonwealth Bank of Australia                                     | CUSIP: 2027A0KW8<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |  20700000 | PA      | $20737717.47  | 0.18%             | 2028-03-14      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                  | Nordea Bank Abp                                                    | CUSIP: 65558RAL3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |  24750000 | PA      | $24770230.65  | 0.22%             | 2028-03-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Silver Rock CLO Ltd                              | Silver Rock CLO II Ltd                                             | CUSIP: 82812LAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  41750000 | PA      | $41689420.75  | 0.37%             | 2035-01-20      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| CARGILL INC                                      | Cargill Inc                                                        | CUSIP: 141781BY9<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14011610.48  | 0.12%             | 2025-10-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2017-IV Ltd                                           | CUSIP: 12551JAL0<br>LEI: 254900JEH56UBUEZJW15 | Long             | ABS-CBDO         | CORP              | KY        |   9240516 | PA      | $9250793.73   | 0.08%             | 2030-10-24      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2021-SJ1                                 | CUSIP: 89180FCD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4890319 | PA      | $4684173.61   | 0.04%             | 2068-07-25      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                   | JP Morgan Chase Commercial Mortgage Securities Trust 2015-JP1      | CUSIP: 46590KAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9620000 | PA      | $9533528.71   | 0.08%             | 2049-01-15      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                               | Banco Santander SA                                                 | CUSIP: 05964HAR6<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  47600000 | PA      | $47634124.44  | 0.42%             | 2025-08-18      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| NXPBV                                            | NXPBV                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14481350.10  | 0.13%             | 2025-06-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK8                                                     | CUSIP: 06650AAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17699319 | PA      | $17294247.19  | 0.15%             | 2050-11-15      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $649858.05    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                      | Nutrien Ltd                                                        | CUSIP: 67077MAY4<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |   7250000 | PA      | $7288933.23   | 0.06%             | 2025-11-07      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                     | Stryker Corp                                                       | CUSIP: 863667BJ9<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30103796.70  | 0.27%             | 2027-02-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXIV Ltd                                      | CUSIP: 55820NAW1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2509831 | PA      | $2509798.70   | 0.02%             | 2029-10-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| SKANDINAVISKA ENSKILDA                           | Skandinaviska Enskilda Banken AB                                   | CUSIP: 830505BE2<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |  35000000 | PA      | $35063199.50  | 0.31%             | 2028-06-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2018-5                                   | CUSIP: 89176VAK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2995105 | PA      | $2952246.55   | 0.03%             | 2058-07-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                   | OneMain Direct Auto Receivables Trust 2023-1                       | CUSIP: 682685AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17100000 | PA      | $17237376.27  | 0.15%             | 2029-11-14      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                       | JP MORGAN SECURITIES LLC                                           | CUSIP: 46656HFW7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17000000 | PA      | $17003671.49  | 0.15%             | 2026-01-27      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                         | Citigroup Global Markets Holdings Inc/United States                | CUSIP: 17291LZD0<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40054270.00  | 0.35%             | 2026-05-26      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                           | Northwoods Capital XII-B Ltd                                       | CUSIP: 66858CAN7<br>LEI: 549300R06FSYRU75ZW78 | Long             | ABS-CBDO         | CORP              | KY        |  11623625 | PA      | $11623639.21  | 0.10%             | 2031-06-15      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                              | SOUND POINT CLO VII-R Ltd                                          | CUSIP: 83610HAL4<br>LEI: 549300IYECLSB6ZQZB89 | Long             | ABS-CBDO         | CORP              | KY        |   4804951 | PA      | $4814731.61   | 0.04%             | 2031-10-23      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $558783.20    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WEC1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   9750000 | PA      | $9759474.08   | 0.09%             | 2026-01-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ADE4<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $39986890.80  | 0.35%             | 2027-06-24      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                           | Roper Technologies Inc                                             | CUSIP: 776743AM8<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14840338.05  | 0.13%             | 2025-09-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                      | PepsiCo Inc                                                        | CUSIP: 713448FV5<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50179396.00  | 0.44%             | 2025-11-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BK AUSTR NY                         | Commonwealth Bank of Australia/New York NY                         | CUSIP: 20271RAV2<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |  17400000 | PA      | $17490058.92  | 0.15%             | 2028-03-14      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                   | CSAIL 2016-C7 Commercial Mortgage Trust                            | CUSIP: 12637UAV1<br>LEI: 5493006MX7HG5PC85C29 | Long             | ABS-MBS          | CORP              | US        |   5461912 | PA      | $5395283.60   | 0.05%             | 2049-11-15      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                           | Philip Morris International Inc                                    | CUSIP: 718172DR7<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29813028.90  | 0.26%             | 2028-04-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                 | BANK OF MONTREAL                                                   | CUSIP: 06373LCT4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  19000000 | PA      | $19005616.40  | 0.17%             | 2025-07-22      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C33        | CUSIP: 61767CAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12820000 | PA      | $12463937.32  | 0.11%             | 2050-05-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680BR3<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |  10560000 | PA      | $10569091.74  | 0.09%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-875374.43   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2015-GC31                      | CUSIP: 17323YAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7156390 | PA      | $7028555.75   | 0.06%             | 2048-06-10      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| ESSENTIAL UTILITIES INC                          | ESSENTIAL UTILITIES INC                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  57000000 | PA      | $56956799.70  | 0.50%             | 2025-06-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HCP INC                                          | HCP INC                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  50000000 | PA      | $49836250.00  | 0.44%             | 2025-06-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                               | BMW US Capital LLC                                                 | CUSIP: 05565ECU7<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  18900000 | PA      | $18937913.40  | 0.17%             | 2027-03-19      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                     | Stryker Corp                                                       | CUSIP: 863667BK6<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |  22500000 | PA      | $22703156.10  | 0.20%             | 2028-02-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2024-CES3                                      | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7768443 | PA      | $7867994.91   | 0.07%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                          | Jefferies Financial Group Inc                                      | CUSIP: 47233WHZ5<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |  30300000 | PA      | $30276033.91  | 0.27%             | 2026-02-10      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TCW Ltd                                          | TCW CLO 2020-1 Ltd                                                 | CUSIP: 87190CBG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  25000000 | PA      | $24986132.50  | 0.22%             | 2034-04-20      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                          | National Australia Bank Ltd                                        | CUSIP: 632525BM2<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |  14286000 | PA      | $14311889.09  | 0.13%             | 2025-12-10      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                              | LCM 39 Ltd                                                         | CUSIP: 50204NAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |  50000000 | PA      | $50029005.00  | 0.44%             | 2034-10-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-75599.62    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MOLSON COORS BEVERAGE                            | Molson Coors Beverage Co                                           | CUSIP: 60871RAG5<br>LEI: 54930073LBBH6ZCBE225 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6882955.73   | 0.06%             | 2026-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2017-GS7                              | CUSIP: 36254CAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  32020000 | PA      | $31070565.37  | 0.27%             | 2050-08-10      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS3                              | CUSIP: 36251PAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21017822 | PA      | $20560640.56  | 0.18%             | 2049-10-10      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-NXS5                    | CUSIP: 95000CBA0<br>LEI: 549300SGFUCMB43V8P22 | Long             | ABS-MBS          | CORP              | US        |   4920000 | PA      | $4881356.84   | 0.04%             | 2059-01-15      | Fixed         | 3.37%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2017-C38                     | CUSIP: 95001MAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4433400 | PA      | $4312722.64   | 0.04%             | 2050-07-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| ING (US) FUNDING LLC                             | ING US FUNDING LLC                                                 | CUSIP: 44988GEQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30010842.00  | 0.26%             | 2025-07-28      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                  | Chevron USA Inc                                                    | CUSIP: 166756AZ9<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |  33900000 | PA      | $34117768.85  | 0.30%             | 2027-02-26      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                       | Intuit Inc                                                         | CUSIP: 46124HAE6<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50549816.00  | 0.45%             | 2026-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                            | Sixth Street CLO VIII Ltd                                          | CUSIP: 83012VAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  46500000 | PA      | $46566992.55  | 0.41%             | 2034-10-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                   | Avis Budget Rental Car Funding AESOP LLC                           | CUSIP: 05377RFK5<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |  35000000 | PA      | $34958136.50  | 0.31%             | 2027-02-20      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-2843961.09  | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                           | UnitedHealth Group Inc                                             | CUSIP: 91324PEN8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   5750000 | PA      | $5758498.85   | 0.05%             | 2025-10-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TMR3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10002095.20  | 0.09%             | 2026-04-10      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMP BK COMM NY                          | Canadian Imperial Bank of Commerce/New York NY                     | CUSIP: 13606K3X2<br>LEI: 549300H8L46OOZOFHU82 | Long             | DBT              | CORP              | CA        |  31000000 | PA      | $31001143.90  | 0.27%             | 2025-06-04      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                      | Balboa Bay Loan Funding 2021-2 Ltd                                 | CUSIP: 05766GAL1<br>LEI: 549300N3EVICXRV85R74 | Long             | ABS-CBDO         | CORP              | KY        |  24070000 | PA      | $24034939.64  | 0.21%             | 2035-01-20      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN NY                         | Svenska Handelsbanken/New York NY                                  | CUSIP: 86959TNB8<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |  24500000 | PA      | $24524066.35  | 0.22%             | 2026-04-15      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Mountain View CLO Ltd                            | Mountain View CLO 2013-1 Ltd                                       | CUSIP: 62431UBC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5237139 | PA      | $5235096.78   | 0.05%             | 2030-10-12      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C24        | CUSIP: 61765LAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8117645 | PA      | $8100342.62   | 0.07%             | 2048-05-15      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                      | PepsiCo Inc                                                        | CUSIP: 713448FW3<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |  26000000 | PA      | $26335615.54  | 0.23%             | 2026-11-10      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                          | Arthur J Gallagher & Co                                            | CUSIP: 04316JAK5<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |  23606000 | PA      | $23660932.58  | 0.21%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                      | NUTRIEN LTD                                                        | CUSIP: 67077UTH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14965024.50  | 0.13%             | 2025-06-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-258587.73   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                          | Bristol-Myers Squibb Co                                            | CUSIP: 110122EE4<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7587040.58   | 0.07%             | 2027-02-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                          | Australia & New Zealand Banking Group Ltd                          | CUSIP: 05252ADJ7<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |  33600000 | PA      | $33817946.40  | 0.30%             | 2027-01-18      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion CLO IX Ltd                                               | CUSIP: 07132EAJ4<br>LEI: 549300JMWGEYZEC6GK98 | Long             | ABS-CBDO         | CORP              | KY        |  12667219 | PA      | $12698939.11  | 0.11%             | 2031-07-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XEQ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   9375000 | PA      | $9454623.75   | 0.08%             | 2027-05-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                            | Rio Tinto Finance USA PLC                                          | CUSIP: 76720AAR7<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |  12000000 | PA      | $12043423.20  | 0.11%             | 2028-03-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2017-GS6                              | CUSIP: 36253PAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5210629 | PA      | $5051071.53   | 0.04%             | 2050-05-10      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| GIVAUDANUNITEDSTATESIN                           | GIVAUDANUNITEDSTATESIN                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19000000 | PA      | $18890275.00  | 0.17%             | 2025-07-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                   | Lowe's Cos Inc                                                     | CUSIP: 548661DM6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |  24000000 | PA      | $23600313.36  | 0.21%             | 2026-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                          | Astrazeneca Finance LLC                                            | CUSIP: 04636NAK9<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25255702.50  | 0.22%             | 2027-02-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Shackleton CLO LTD                               | Shackleton 2015-VII-R CLO Ltd                                      | CUSIP: 81883AAS8<br>LEI: 549300NCJRO2LKFZ8G86 | Long             | ABS-CBDO         | CORP              | KY        |  32205944 | PA      | $32199506.46  | 0.28%             | 2031-07-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $505022.50    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                       | CUSIP: 90351DAF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  10000000 | PA      | $9957811.00   | 0.09%             | 2026-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                          | National Australia Bank Ltd                                        | CUSIP: 632525BW0<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |  20000000 | PA      | $20030020.00  | 0.18%             | 2027-10-26      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JAN7<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $13023258.30  | 0.11%             | 2026-01-09      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| E.ON AG                                          | E.ON AG                                                            | CUSIP: 26877JTQ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17942301.00  | 0.16%             | 2025-06-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS NY                                   | BNP PARIBAS NY                                                     | CUSIP: 05593DES8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26700000 | PA      | $26725789.53  | 0.24%             | 2026-02-17      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                            | Rio Tinto Finance USA PLC                                          | CUSIP: 76720AAQ9<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10023716.00  | 0.09%             | 2027-03-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                     | ARES L CLO Ltd                                                     | CUSIP: 04018LAJ4<br>LEI: 549300S7Y78W7UJHZZ39 | Long             | ABS-CBDO         | CORP              | KY        |   6322765 | PA      | $6330058.37   | 0.06%             | 2032-01-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                       | Intel Corp                                                         | CUSIP: 458140AS9<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |  45000000 | PA      | $44896324.95  | 0.40%             | 2025-07-29      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                | State Street Corp                                                  | CUSIP: 857477CU5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  43400000 | PA      | $43713506.41  | 0.39%             | 2028-02-28      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV                          | Fidelity National Information Services Inc                         | CUSIP: 31620MBR6<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4872114.40   | 0.04%             | 2026-03-01      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                 | Three-Month SOFR                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -16 | NC      | $32220.72     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $981675.23    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS2                              | CUSIP: 36252TAR6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14962000 | PA      | $14724033.88  | 0.13%             | 2049-05-10      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu                   | JPMDB Commercial Mortgage Securities Trust 2018-C8                 | CUSIP: 46591AAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4277448 | PA      | $4213878.00   | 0.04%             | 2051-06-15      | Fixed         | 3.94%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853AV2<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   9070000 | PA      | $9121174.75   | 0.08%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CBAM CLO Management                              | Cbam 2018-7 Ltd                                                    | CUSIP: 12482JAA8<br>LEI: 2549002XHTMWO4GGPF51 | Long             | ABS-CBDO         | CORP              | KY        |   5117388 | PA      | $5130231.14   | 0.05%             | 2031-07-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                             | Royal Bank of Canada                                               | CUSIP: 78016HZU7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  20000000 | PA      | $20133730.00  | 0.18%             | 2027-01-19      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK4                                                     | CUSIP: 06541FAZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  27747325 | PA      | $27220647.63  | 0.24%             | 2050-05-15      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                   | BNP PARIBAS SA                                                     | CUSIP: 09660EYK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17624291.40  | 0.16%             | 2025-11-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg                   | DBJPM 2016-C3 Mortgage Trust                                       | CUSIP: 23312VAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6895141 | PA      | $6770123.49   | 0.06%             | 2049-08-10      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC                              | NatWest Markets PLC                                                | CUSIP: 63906YAM0<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |  20000000 | PA      | $20062150.00  | 0.18%             | 2028-03-21      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                   | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP2      | CUSIP: 46590MAS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1169815 | PA      | $1162499.70   | 0.01%             | 2049-08-15      | Fixed         | 2.71%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $726159.03    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON AG                                          | E.ON AG                                                            | CUSIP: 26877JTP8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  42000000 | PA      | $41870665.20  | 0.37%             | 2025-06-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                             | BlueMountain CLO XXII Ltd                                          | CUSIP: 09629PAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6448337 | PA      | $6461753.66   | 0.06%             | 2031-07-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-C36                     | CUSIP: 95000MBN0<br>LEI: 549300BSYX29G4VVM177 | Long             | ABS-MBS          | CORP              | US        |  12384973 | PA      | $12106624.55  | 0.11%             | 2059-11-15      | Fixed         | 2.81%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C31        | CUSIP: 61766RAY2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6940763 | PA      | $6797974.61   | 0.06%             | 2049-11-15      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                   | CarVal CLO II Ltd                                                  | CUSIP: 14686AAY5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  44907713 | PA      | $44948587.95  | 0.40%             | 2032-04-20      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| ESSENTIALUTILITIESINC                            | ESSENTIALUTILITIESINC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14494516.10  | 0.13%             | 2025-06-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2015-CCRE26 Mortgage Trust                                    | CUSIP: 12593QBE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12465000 | PA      | $12397364.91  | 0.11%             | 2048-10-10      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| E.ON AG                                          | E.ON AG                                                            | CUSIP: 26877JTT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17935511.40  | 0.16%             | 2025-06-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ANZ BANK                                         | AUSTRALIA & NEW ZEALAND B                                          | CUSIP: 05253AXT2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  41500000 | PA      | $40749543.05  | 0.36%             | 2025-10-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ADJ3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   9170000 | PA      | $9144392.68   | 0.08%             | 2027-09-24      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-38269.95    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CADENCE DESIGN SYS INC                           | Cadence Design Systems Inc                                         | CUSIP: 127387AM0<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $6275202.19   | 0.06%             | 2027-09-10      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                              | Gilead Sciences Inc                                                | CUSIP: 375558BF9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9934370.80   | 0.09%             | 2026-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                         | Penske Truck Leasing Co Lp / PTL Finance Corp                      | CUSIP: 709599BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17658768.58  | 0.16%             | 2026-05-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                           | Williams Cos Inc/The                                               | CUSIP: 969457CH1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40227337.60  | 0.36%             | 2026-03-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| HPS Loan Management Ltd                          | Highbridge Loan Management 5-2015 Ltd                              | CUSIP: 44331DAQ2<br>LEI: 54930067MZ9NV8B3SZ80 | Long             | ABS-CBDO         | CORP              | KY        |  30112837 | PA      | $30090650.18  | 0.27%             | 2030-10-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| MARS INC                                         | Mars Inc                                                           | CUSIP: 571676AX3<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40191084.80  | 0.35%             | 2028-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg                   | DBJPM 2016-C3 Mortgage Trust                                       | CUSIP: 23312VAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8353000 | PA      | $8162446.35   | 0.07%             | 2049-08-10      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2017-P7                        | CUSIP: 17325HBN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8184617 | PA      | $8030709.79   | 0.07%             | 2050-04-14      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2022-3 Ltd                              | CUSIP: 69690CAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9464042 | PA      | $9460387.65   | 0.08%             | 2031-04-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                           | CNH Industrial Capital LLC                                         | CUSIP: 12592BAL8<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14740948.20  | 0.13%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $9289.84      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor                   | Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10 | CUSIP: 06054MAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21000000 | PA      | $20668347.00  | 0.18%             | 2049-07-15      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                   | Apidos CLO XII                                                     | CUSIP: 03764DAM3<br>LEI: 549300M5NMLBQJXUO195 | Long             | ABS-CBDO         | CORP              | KY        |   5384980 | PA      | $5379594.59   | 0.05%             | 2031-04-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                          | BPCE SA                                                            | CUSIP: 05571BXA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  47000000 | PA      | $46237232.30  | 0.41%             | 2025-10-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                              | Southern California Edison Co                                      | CUSIP: 842400JB0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12055765.92  | 0.11%             | 2026-03-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| SWEDBANK AB                                      | SWEDBANK AB                                                        | CUSIP: 87020YBV9<br>LEI: N/A                  | Long             | DBT              | CORP              | SE        |  30000000 | PA      | $30010170.00  | 0.26%             | 2025-07-21      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                                | CBRE SERVICES INC                                                  | CUSIP: 12610BT44<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19986826.00  | 0.18%             | 2025-06-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DNB BANK ASA                                     | DNB Bank ASA                                                       | CUSIP: 23341CAC7<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |  25000000 | PA      | $25086720.00  | 0.22%             | 2026-10-09      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                          | Bristol-Myers Squibb Co                                            | CUSIP: 110122ED6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   9250000 | PA      | $9272679.61   | 0.08%             | 2026-02-20      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                          | Cooperatieve Rabobank UA/NY                                        | CUSIP: 21688ABB7<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  28500000 | PA      | $28553731.05  | 0.25%             | 2026-01-09      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                    | DTE Energy Co                                                      | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |  14625000 | PA      | $14744873.96  | 0.13%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $397331.04    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                          | Australia & New Zealand Banking Group Ltd                          | CUSIP: 05252ADK4<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |  13500000 | PA      | $13525581.29  | 0.12%             | 2026-03-18      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2022-3 LLC                              | CUSIP: 29374FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    191250 | PA      | $191022.36    | 0.00%             | 2029-07-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ADK0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4992451.25   | 0.04%             | 2027-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NESTLE HOLDINGS INC                              | Nestle Holdings Inc                                                | CUSIP: 641062BA1<br>LEI: 549300EAEU8YV8MQXP30 | Long             | DBT              | CORP              | US        |  11725000 | PA      | $11705088.37  | 0.10%             | 2025-09-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853AX8<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |  24000000 | PA      | $23973600.00  | 0.21%             | 2027-09-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| MARS INC                                         | Mars Inc                                                           | CUSIP: 571676AW5<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30030721.80  | 0.27%             | 2027-03-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                   | Carlyle Global Market Strategies CLO 2012-4 Ltd                    | CUSIP: 14309YCA0<br>LEI: 549300R4G5ROMXQ5CG20 | Long             | ABS-CBDO         | CORP              | KY        |   7777316 | PA      | $7772273.49   | 0.07%             | 2032-04-22      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK NY                         | Toronto-Dominion Bank/NY                                           | CUSIP: 89115D5Q5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  27000000 | PA      | $27030545.10  | 0.24%             | 2026-04-23      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WFR7<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  44000000 | PA      | $43950364.48  | 0.39%             | 2026-05-11      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor                   | Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10 | CUSIP: 06054MAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1491235 | PA      | $1473597.80   | 0.01%             | 2049-07-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $169726.53    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                           | Pacific Gas and Electric Co                                        | CUSIP: 694308JP3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   9900000 | PA      | $9789287.41   | 0.09%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                          | BPCE SA                                                            | CUSIP: 05571BYD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9600000 | PA      | $9404751.36   | 0.08%             | 2025-11-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                | Cisco Systems Inc                                                  | CUSIP: 17275RBQ4<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |  24828000 | PA      | $25079787.95  | 0.22%             | 2027-02-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                               | Siemens Funding BV                                                 | CUSIP: 82622RAA4<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |  29900000 | PA      | $29959489.04  | 0.26%             | 2028-05-26      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KDH0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11001409.43  | 0.10%             | 2028-02-04      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF II                               | Pacific Life Global Funding II                                     | CUSIP: 6944PL3G2<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29957604.90  | 0.26%             | 2027-02-04      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                         | Caterpillar Financial Services Corp                                | CUSIP: 14913R3B1<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15013778.85  | 0.13%             | 2026-01-06      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL                             | IBM International Capital Pte Ltd                                  | CUSIP: 449276AA2<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |  20000000 | PA      | $20019746.00  | 0.18%             | 2026-02-05      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GLENCOREFUNDINGLLC                               | GLENCOREFUNDINGLLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  72000000 | PA      | $71780407.20  | 0.63%             | 2025-06-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA HOUS                         | Bank of Nova Scotia/Houston                                        | CUSIP: 06418NCX8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  25000000 | PA      | $25011600.00  | 0.22%             | 2025-10-24      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-227968.01   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                  | DTE Electric Co                                                    | CUSIP: 23338VAU0<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |  42750000 | PA      | $43189927.85  | 0.38%             | 2026-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                          | Schlumberger Holdings Corp                                         | CUSIP: 806851AL5<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |  23750000 | PA      | $23980376.19  | 0.21%             | 2027-05-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TLG8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19952887.60  | 0.18%             | 2025-06-09      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| INTESA SANPA 4.75 9/25                           | INTESA SANPA 4.75 9/25                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  90000000 | PA      | $90012321.00  | 0.79%             | 2025-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-ACNT                             | CUSIP: 05609QAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  41236057 | PA      | $41210284.24  | 0.36%             | 2038-11-15      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2015-LC21 Mortgage Trust                                      | CUSIP: 12593FBD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    947308 | PA      | $946043.62    | 0.01%             | 2048-07-10      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| BELLCANADA                                       | BELLCANADA                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22000000 | PA      | $21964606.40  | 0.19%             | 2025-06-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                                  | BAE Systems PLC                                                    | CUSIP: 05523RAH0<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |  10290000 | PA      | $10367579.40  | 0.09%             | 2027-03-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                | HSBC Holdings PLC                                                  | CUSIP: 404280BX6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  65000000 | PA      | $64882363.00  | 0.57%             | 2026-09-12      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                                   | CUSIP: 91282CMF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2018437.50   | 0.02%             | 2028-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $17514.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                       | CUSIP: 11135FCE9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |  68800000 | PA      | $69596827.84  | 0.61%             | 2028-04-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                             | Glencore Funding LLC                                               | CUSIP: 378272BX5<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19966672.00  | 0.18%             | 2026-10-01      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2023-V3 Mortgage Trust                                   | CUSIP: 08163VAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16734480 | PA      | $17446050.17  | 0.15%             | 2056-07-15      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2015-6                                   | CUSIP: 89172RAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    449068 | PA      | $447503.15    | 0.00%             | 2055-04-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                           | Pacific Gas and Electric Co                                        | CUSIP: 694308KS5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |  48500000 | PA      | $48433823.21  | 0.43%             | 2025-09-04      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC                               | Smith & Nephew PLC                                                 | CUSIP: 83192PAC2<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |   6133000 | PA      | $6186761.88   | 0.05%             | 2027-03-20      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Bank5                                            | BANK5 2023-5YR1                                                    | CUSIP: 06644EAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2820000 | PA      | $2879335.34   | 0.03%             | 2056-04-15      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KDG2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11118920.34  | 0.10%             | 2028-02-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                   | OneMain Financial Issuance Trust 2023-2                            | CUSIP: 68269HAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  34900000 | PA      | $35623888.82  | 0.31%             | 2036-09-15      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | BROADCOM INC                                                       | CUSIP: 11135MT30<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7995928.00   | 0.07%             | 2025-06-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-4580814.75  | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                          | Metropolitan Life Global Funding I                                 | CUSIP: 592179KK0<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14015843.94  | 0.12%             | 2026-04-09      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-C34                     | CUSIP: 95000DBE0<br>LEI: 549300FWFHJGIW2B2U59 | Long             | ABS-MBS          | CORP              | US        |    579748 | PA      | $575964.38    | 0.01%             | 2049-06-15      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                          | Corebridge Global Funding                                          | CUSIP: 00138CAW8<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30200422.20  | 0.27%             | 2026-09-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                       | AbbVie Inc                                                         | CUSIP: 00287YDY2<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |  49500000 | PA      | $49996111.28  | 0.44%             | 2028-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK NY                         | Toronto-Dominion Bank/NY                                           | CUSIP: 89115BTR1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  25000000 | PA      | $25013686.25  | 0.22%             | 2025-08-22      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                 | BANK OF MONTREAL                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  17000000 | PA      | $17003359.37  | 0.15%             | 2026-05-27      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                             | Glencore Funding LLC                                               | CUSIP: 378272BY3<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12047320.80  | 0.11%             | 2028-04-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C29        | CUSIP: 61766EBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11665000 | PA      | $11478043.88  | 0.10%             | 2049-05-15      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                   | CSAIL 2016-C6 Commercial Mortgage Trust                            | CUSIP: 12636MAE8<br>LEI: 549300C2HE5FJAWYZL57 | Long             | ABS-MBS          | CORP              | US        |  14500000 | PA      | $14252872.15  | 0.13%             | 2049-01-15      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TKC8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  18750000 | PA      | $18738418.69  | 0.17%             | 2025-06-30      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $1523431.50   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HPS Loan Management Ltd                          | HPS Loan Management 10-2016 Ltd                                    | CUSIP: 40436TBN5<br>LEI: 2549009NI8GVCM3ROT27 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $50026975.00  | 0.44%             | 2034-04-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| NXPBV                                            | NXPBV                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14479469.45  | 0.13%             | 2025-06-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                         | National Australia Bank Ltd/New York                               | CUSIP: 63253QAA2<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |  32000000 | PA      | $32089561.60  | 0.28%             | 2026-01-12      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                            | ARI Fleet Lease Trust 2024-A                                       | CUSIP: 00218KAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4955326 | PA      | $4975148.21   | 0.04%             | 2032-11-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2024-1 Ltd                              | CUSIP: 69703NAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7798171 | PA      | $7809871.16   | 0.07%             | 2032-10-15      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27        | CUSIP: 61690AAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6275000 | PA      | $6237647.44   | 0.06%             | 2047-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                  | Chevron USA Inc                                                    | CUSIP: 166756BB1<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |  33900000 | PA      | $34222536.47  | 0.30%             | 2028-02-26      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                           | Bunge Ltd Finance Corp                                             | CUSIP: 120568BD1<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5953458.12   | 0.05%             | 2028-01-07      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| NXPBV                                            | NXPBV                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13000000 | PA      | $12924680.60  | 0.11%             | 2025-07-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                      | WESTPAC BANKING CORP                                               | CUSIP: 9612C45T4<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |  50000000 | PA      | $50022555.00  | 0.44%             | 2025-08-29      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                 | Three-Month SOFR                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -16 | NC      | $33883.22     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-1115579.09  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MPLX LP                                          | MPLX LP                                                            | CUSIP: 55336VBR0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |  19379000 | PA      | $18958310.40  | 0.17%             | 2026-03-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ROCHE HOLDINGS INC                               | Roche Holdings Inc                                                 | CUSIP: 771196CE0<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | DBT              | CORP              | US        |  60000000 | PA      | $60872435.40  | 0.54%             | 2026-11-13      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                      | Nutrien Ltd                                                        | CUSIP: 67077MBC1<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |  20000000 | PA      | $20234568.00  | 0.18%             | 2027-06-21      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                              | Southern California Edison Co                                      | CUSIP: 842400JF1<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17925942.24  | 0.16%             | 2026-09-06      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                               | BMW US Capital LLC                                                 | CUSIP: 05565ECL7<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19992754.00  | 0.18%             | 2026-04-02      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                              | Bank of Nova Scotia/The                                            | CUSIP: 06418GAG2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  30000000 | PA      | $29988336.00  | 0.26%             | 2027-06-04      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                         | OZLM VI Ltd                                                        | CUSIP: 67108LBK8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5840425 | PA      | $5841179.16   | 0.05%             | 2031-04-17      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                  | Nordea Bank Abp                                                    | CUSIP: 65558RAC3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |  10500000 | PA      | $10500292.95  | 0.09%             | 2025-09-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                             | Keurig Dr Pepper Inc                                               | CUSIP: 49271VAZ3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19932935.20  | 0.18%             | 2028-05-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2015-LC22                    | CUSIP: 94989TAZ7<br>LEI: 549300XO83D3BDYP0P62 | Long             | ABS-MBS          | CORP              | US        |   6823752 | PA      | $6795923.04   | 0.06%             | 2058-09-15      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-113575.49   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                           | Rockford Tower CLO 2017-3 Ltd                                      | CUSIP: 77341DAA5<br>LEI: 549300V5ZF7112UGSH89 | Long             | ABS-CBDO         | CORP              | KY        |   3616846 | PA      | $3624406.62   | 0.03%             | 2030-10-20      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| UDR INC                                          | UDR INC                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24939017.50  | 0.22%             | 2025-06-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27        | CUSIP: 61690AAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2597899 | PA      | $2590373.84   | 0.02%             | 2047-12-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | CGMS Commercial Mortgage Trust 2017-B1                             | CUSIP: 17326CAY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1447623 | PA      | $1403420.19   | 0.01%             | 2050-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                          | Schlumberger Holdings Corp                                         | CUSIP: 806851AK7<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |  22500000 | PA      | $22134144.15  | 0.20%             | 2028-05-17      | Fixed         | 3.90%                 | Yes           |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trus                   | CFCRE Commercial Mortgage Trust 2016-C4                            | CUSIP: 12531YAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5600000 | PA      | $5522825.84   | 0.05%             | 2058-05-10      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                               | Siemens Funding BV                                                 | CUSIP: 82622RAB2<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |  18000000 | PA      | $18019150.20  | 0.16%             | 2028-05-26      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                          | Metropolitan Life Global Funding I                                 | CUSIP: 592179KM6<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |  19000000 | PA      | $18999768.39  | 0.17%             | 2027-06-11      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2019-GC38                             | CUSIP: 36252SAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1411870 | PA      | $1394225.02   | 0.01%             | 2052-02-10      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TKF1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4987155.05   | 0.04%             | 2025-08-18      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $253103.49    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                   | Lowe's Cos Inc                                                     | CUSIP: 548661EP8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |  13500000 | PA      | $13530620.57  | 0.12%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                          | Goldman Sachs Group Inc/The                                        | CUSIP: 38145GAM2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50093696.00  | 0.44%             | 2026-08-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                         | Lloyds Banking Group PLC                                           | CUSIP: 53944YAT0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |  32004000 | PA      | $31983997.50  | 0.28%             | 2026-08-11      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                  | Venture 34 CLO Ltd                                                 | CUSIP: 92332CAE9<br>LEI: 549300MYRV6PEDBLPL32 | Long             | ABS-CBDO         | CORP              | KY        |  14257385 | PA      | $14284862.13  | 0.13%             | 2031-10-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                       | Intel Corp                                                         | CUSIP: 458140AU4<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |  10181000 | PA      | $9987653.95   | 0.09%             | 2026-05-19      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                             | Public Storage Operating Co                                        | CUSIP: 74464AAA9<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |  19773000 | PA      | $19777092.81  | 0.17%             | 2027-04-16      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Nassau LTD                                       | Nassau 2022-I Ltd                                                  | CUSIP: 63171LAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   9292049 | PA      | $9294121.92   | 0.08%             | 2031-01-15      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                 | Bank of Montreal                                                   | CUSIP: 06376CHJ8<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  50000000 | PA      | $49951295.00  | 0.44%             | 2026-07-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                       | JP MORGAN SECURITIES LLC                                           | CUSIP: 46656HGR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  45000000 | PA      | $45030754.80  | 0.40%             | 2026-04-29      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                 | Ryder System Inc                                                   | CUSIP: 78355HLA5<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |   9483000 | PA      | $9598495.35   | 0.08%             | 2027-03-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-359117.65   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XVIII Ltd                                     | CUSIP: 55819BAW0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  12927035 | PA      | $12940232.45  | 0.11%             | 2030-10-21      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                   | JPMBB Commercial Mortgage Securities Trust 2014-C23                | CUSIP: 46643ABE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    203173 | PA      | $201446.25    | 0.00%             | 2047-09-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                           | Rockford Tower CLO 2020-1 Ltd                                      | CUSIP: 77341EBA2<br>LEI: 5493009YDNBJVFWX7747 | Long             | ABS-CBDO         | CORP              | KY        |  60500000 | PA      | $60500000.00  | 0.53%             | 2036-01-20      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| NXP BV                                           | NXP BV                                                             | CUSIP: 67122RTC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34941343.50  | 0.31%             | 2025-06-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNILEVER CAPITAL CORP                            | Unilever Capital Corp                                              | CUSIP: 904764BU0<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |  13650000 | PA      | $13687672.64  | 0.12%             | 2027-08-12      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC Trust 2016-NXSR                                               | CUSIP: 12594PAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3303172 | PA      | $3274920.29   | 0.03%             | 2049-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL COMPANY (THE                        | DOW CHEMICAL COMPANY (THE                                          | CUSIP: 26055ATQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12300000 | PA      | $12260316.51  | 0.11%             | 2025-06-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                   | Csail 2015-C2 Commercial Mortgage Trust                            | CUSIP: 12634NAT5<br>LEI: 549300D5DIOOMKWXVZ20 | Long             | ABS-MBS          | CORP              | US        |    235324 | PA      | $234821.58    | 0.00%             | 2057-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Commercial Mort                   | LCCM 2017-LC26                                                     | CUSIP: 50190DAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2960000 | PA      | $2871113.27   | 0.03%             | 2050-07-12      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ADP9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |  14400000 | PA      | $14385354.34  | 0.13%             | 2027-03-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-775583.72   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                            | PACCAR Financial Corp                                              | CUSIP: 69371RT63<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50463418.00  | 0.45%             | 2028-03-03      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7079143.75   | 0.06%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2015-3 Ltd                                                | CUSIP: 92913UBC9<br>LEI: 254900MS3D9HONB0N824 | Long             | ABS-CBDO         | CORP              | KY        |  29523458 | PA      | $29564961.66  | 0.26%             | 2031-10-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                         | Agilent Technologies Inc                                           | CUSIP: 00846UAQ4<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |  20800000 | PA      | $20683974.69  | 0.18%             | 2027-09-09      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TYCO ELECTRONICS GROUP S                         | Tyco Electronics Group SA                                          | CUSIP: 902133AZ0<br>LEI: C33G1C5SYE2YM95EE712 | Long             | DBT              | CORP              | LU        |  23250000 | PA      | $23251604.25  | 0.21%             | 2026-02-13      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE (US) INC                                | ENBRIDGE (US) INC                                                  | CUSIP: 29251UTG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9978208.00   | 0.09%             | 2025-06-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                      | Nutrien Ltd                                                        | CUSIP: 67077MBE7<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |  50000000 | PA      | $49920100.00  | 0.44%             | 2027-03-12      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                         | Caterpillar Financial Services Corp                                | CUSIP: 14913UAA8<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |  52000000 | PA      | $51977056.04  | 0.46%             | 2026-05-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WFW6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4986092.20   | 0.04%             | 2028-03-03      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF II                               | Pacific Life Global Funding II                                     | CUSIP: 6944PL3B3<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |  23000000 | PA      | $23037711.03  | 0.20%             | 2026-03-27      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-1862867.20  | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                          | Bristol-Myers Squibb Co                                            | CUSIP: 110122EM6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   6170000 | PA      | $6177247.65   | 0.05%             | 2026-02-20      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C26        | CUSIP: 61690VAZ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10600000 | PA      | $10538986.40  | 0.09%             | 2048-10-15      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JAV9<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $12989600.00  | 0.11%             | 2026-07-31      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman Loan Advisers Clo 40 Ltd                          | CUSIP: 64134JAA1<br>LEI: 549300Y2YE54ON4DJE28 | Long             | ABS-CBDO         | CORP              | KY        |  16379655 | PA      | $16424983.89  | 0.14%             | 2033-04-16      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                         | Enterprise Products Operating LLC                                  | CUSIP: 29379VCE1<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20097058.00  | 0.18%             | 2027-01-11      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2017-P8                        | CUSIP: 17326DAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6182000 | PA      | $6008055.21   | 0.05%             | 2050-09-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2018-C45                     | CUSIP: 95001NAX6<br>LEI: 5493006021R83VCLAO08 | Long             | ABS-MBS          | CORP              | US        |   4842357 | PA      | $4757642.18   | 0.04%             | 2051-06-15      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                           | Philip Morris International Inc                                    | CUSIP: 718172DF3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10074672.80  | 0.09%             | 2027-02-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL COMPANY (THE                        | DOW CHEMICAL COMPANY (THE                                          | CUSIP: 26055ATR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8200000 | PA      | $8172504.58   | 0.07%             | 2025-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                 | Duke Energy Corp                                                   | CUSIP: 26441CCB9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   9333000 | PA      | $9396719.75   | 0.08%             | 2027-01-05      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $130413.32    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                          | Jefferies Financial Group Inc                                      | CUSIP: 47233WJG5<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |  37000000 | PA      | $36962729.53  | 0.33%             | 2026-03-16      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                           | CNH Industrial Capital LLC                                         | CUSIP: 12592BAU8<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  15750000 | PA      | $15779049.30  | 0.14%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                         | New York Life Global Funding                                       | CUSIP: 64952WEU3<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |  19750000 | PA      | $19713371.06  | 0.17%             | 2025-08-05      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                 | Georgia Power Co                                                   | CUSIP: 373334KV2<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |  10680000 | PA      | $10821548.13  | 0.10%             | 2027-02-23      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAP INC                          | GlaxoSmithKline Capital Inc                                        | CUSIP: 377372AN7<br>LEI: 5493007Q8VD7Q3ZYZS59 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $11882167.20  | 0.10%             | 2028-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS NEW YORK                             | BNP Paribas SA/New York NY                                         | CUSIP: 05593DBU6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  35000000 | PA      | $35022561.00  | 0.31%             | 2025-09-08      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30        | CUSIP: 61766NBB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12333902 | PA      | $11967768.89  | 0.11%             | 2049-09-15      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                       | JP MORGAN SECURITIES LLC                                           | CUSIP: 46656HFJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15250000 | PA      | $15259493.13  | 0.13%             | 2026-01-02      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                | Wellfleet CLO 2020-1 Ltd                                           | CUSIP: 94949GAN1<br>LEI: 2549001JCRYETQY84B65 | Long             | ABS-CBDO         | CORP              | KY        |  30000000 | PA      | $29986857.00  | 0.26%             | 2033-04-15      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| FED CAISSES DESJARDINS                           | Federation des Caisses Desjardins du Quebec                        | CUSIP: 31429KAN3<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |  83000000 | PA      | $82907247.50  | 0.73%             | 2027-01-27      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Sculptor CLO Ltd                                 | Sculptor CLO XXVIII Ltd                                            | CUSIP: 81124LAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  40000000 | PA      | $39978752.00  | 0.35%             | 2035-01-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                          | John Deere Capital Corp                                            | CUSIP: 24422EXL8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  21000000 | PA      | $21016264.71  | 0.19%             | 2026-03-06      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE EQ                        | ALEXANDRIA REAL ESTATE EQ                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  40000000 | PA      | $39964532.00  | 0.35%             | 2025-06-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STATE STREET BANK & TR                           | State Street Bank & Trust Co                                       | CUSIP: 8574P1PE0<br>LEI: 571474TGEMMWANRLN572 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12001435.20  | 0.11%             | 2025-07-25      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                           | CNH Industrial Capital LLC                                         | CUSIP: 12592BAT1<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  10500000 | PA      | $10477272.96  | 0.09%             | 2027-10-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                         | Florida Power & Light Co                                           | CUSIP: 341081GR2<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |  16500000 | PA      | $16500908.33  | 0.15%             | 2026-05-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853AP5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14016049.60  | 0.12%             | 2026-01-16      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XEF9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8524512.56   | 0.08%             | 2026-04-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners Static                    | Golub Capital Partners Static 2024-1 Ltd                           | CUSIP: 381929AA6<br>LEI: 25490083RWI1EQQYLH43 | Long             | ABS-CBDO         | CORP              | KY        |  25329157 | PA      | $25371213.37  | 0.22%             | 2033-04-20      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XDD5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9771518.90   | 0.09%             | 2026-01-08      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                      | Citibank NA                                                        | CUSIP: 17325FAZ1<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |  52000000 | PA      | $52038621.44  | 0.46%             | 2025-09-29      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| BASF                                             | BASF SE                                                            | CUSIP: 05526LXH5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  39000000 | PA      | $38294497.80  | 0.34%             | 2025-10-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                | State Street Corp                                                  | CUSIP: 857477CL5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  22500000 | PA      | $22774002.30  | 0.20%             | 2027-03-18      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| GIVAUDANUNITEDSTATESIN                           | GIVAUDANUNITEDSTATESIN                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19500000 | PA      | $19475088.75  | 0.17%             | 2025-06-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                            | Wells Fargo & Co                                                   | CUSIP: 95000U3C5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  73000000 | PA      | $72970674.44  | 0.64%             | 2026-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                                   | Romark CLO II Ltd                                                  | CUSIP: 77587EAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  27001177 | PA      | $27007157.79  | 0.24%             | 2031-07-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                          | Walt Disney Co/The                                                 | CUSIP: 254687DD5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29904851.70  | 0.26%             | 2025-10-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                         | National Australia Bank Ltd/New York                               | CUSIP: 63254ABD9<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |   7250000 | PA      | $7248460.10   | 0.06%             | 2025-06-09      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg                   | DBJPM 2017-C6 Mortgage Trust                                       | CUSIP: 23312JAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    417627 | PA      | $407008.31    | 0.00%             | 2050-06-10      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| COLGATE-PALMOLIVE CO                             | Colgate-Palmolive Co                                               | CUSIP: 194162AM5<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | DBT              | CORP              | US        |   6750000 | PA      | $6728440.70   | 0.06%             | 2025-08-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                           | Mondelez International Inc                                         | CUSIP: 609207BF1<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |  47700000 | PA      | $47652932.03  | 0.42%             | 2028-05-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                              | Sound Point Clo XXI Ltd                                            | CUSIP: 83613HAL1<br>LEI: 5493001O6AOY43J70E72 | Long             | ABS-CBDO         | CORP              | KY        |  15041062 | PA      | $15073918.12  | 0.13%             | 2031-10-26      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu                   | JPMDB Commercial Mortgage Securities Trust 2016-C4                 | CUSIP: 46646RAH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3535078 | PA      | $3462160.84   | 0.03%             | 2049-12-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ESSENTIALUTILITIESINC                            | ESSENTIALUTILITIESINC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22200000 | PA      | $22146260.46  | 0.20%             | 2025-06-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAPITAL                          | GlaxoSmithKline Capital PLC                                        | CUSIP: 377373AM7<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |  35000000 | PA      | $35089565.00  | 0.31%             | 2027-03-12      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2016-COR1 Mortgage Trust                                      | CUSIP: 12594MBC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11000000 | PA      | $10740365.90  | 0.09%             | 2049-10-10      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2016-BNK2                           | CUSIP: 61690YBT8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  15230000 | PA      | $14873384.87  | 0.13%             | 2049-11-15      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F                   | Ford Credit Auto Owner Trust 2021-REV2                             | CUSIP: 345285AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  35000000 | PA      | $33544644.00  | 0.30%             | 2034-05-15      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                  | Venture 37 CLO Ltd                                                 | CUSIP: 92333BBA7<br>LEI: 549300IW5Q3C6JHMIU22 | Long             | ABS-CBDO         | CORP              | KY        |  30708614 | PA      | $30763477.56  | 0.27%             | 2032-07-15      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                           | Rockford Tower CLO 2017-2 Ltd                                      | CUSIP: 77340GAJ0<br>LEI: 549300G18KVCW7VUKI86 | Long             | ABS-CBDO         | CORP              | KY        |   2197427 | PA      | $2198375.29   | 0.02%             | 2029-10-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | BROADCOM INC                                                       | CUSIP: 11135MXM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12000000 | PA      | $11780304.00  | 0.10%             | 2025-10-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                   | JPMBB Commercial Mortgage Securities Trust 2015-C32                | CUSIP: 46590JAV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  19126110 | PA      | $19006963.90  | 0.17%             | 2048-11-15      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                          | Honeywell International Inc                                        | CUSIP: 438516CX2<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |  34000000 | PA      | $34181745.64  | 0.30%             | 2027-07-30      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $76743.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I 2017-HR2                                  | CUSIP: 61691NAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5395000 | PA      | $5231639.40   | 0.05%             | 2050-12-15      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                   | Lowe's Cos Inc                                                     | CUSIP: 548661EK9<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9991828.70   | 0.09%             | 2025-09-08      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2013-3 Ltd                                                | CUSIP: 92916XAJ6<br>LEI: 5493003QPCHR7P2XIW55 | Long             | ABS-CBDO         | CORP              | KY        |   9853571 | PA      | $9883012.10   | 0.09%             | 2031-10-18      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                            | Palmer Square CLO 2015-1 Ltd                                       | CUSIP: 69689ABU3<br>LEI: 5493006ZPBFJJGSXB826 | Long             | ABS-CBDO         | CORP              | KY        |  25000000 | PA      | $24986520.00  | 0.22%             | 2034-05-21      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK9                                                     | CUSIP: 06540RAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2215187 | PA      | $2155353.46   | 0.02%             | 2054-11-15      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                       | CUSIP: 902613BB3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  10000000 | PA      | $9996430.00   | 0.09%             | 2026-04-17      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                          | Cooperatieve Rabobank UA/NY                                        | CUSIP: 21688ABG6<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  12920000 | PA      | $12950404.64  | 0.11%             | 2026-08-28      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XFF8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17260668.95  | 0.15%             | 2028-04-04      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                         | RTX Corp                                                           | CUSIP: 75513ECQ2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8026303.76   | 0.07%             | 2026-02-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                         | OZLM XV Ltd                                                        | CUSIP: 67111DBA3<br>LEI: 5493008RJIODIVVGSK16 | Long             | ABS-CBDO         | CORP              | KY        |  10905000 | PA      | $10915905.00  | 0.10%             | 2033-04-20      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                         | OZLM IX Ltd                                                        | CUSIP: 67109KBG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15010101 | PA      | $15022868.19  | 0.13%             | 2031-10-20      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| ALIMENTATIONCOUCHE-TARD                          | ALIMENTATIONCOUCHE-TARD                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  40000000 | PA      | $39984504.00  | 0.35%             | 2025-06-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                       | Fiserv Inc                                                         | CUSIP: 337738BJ6<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |  17187000 | PA      | $17366892.55  | 0.15%             | 2027-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                         | Duke Energy Progress LLC                                           | CUSIP: 26442UAT1<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30096192.30  | 0.27%             | 2027-03-06      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-P6                        | CUSIP: 17291EAV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10464343 | PA      | $10277478.83  | 0.09%             | 2049-12-10      | Fixed         | 3.46%                 | Yes           |                  2 | On Loan: No      |
| Cent CLO LP                                      | Columbia Cent CLO 30 Ltd                                           | CUSIP: 19736WAU4<br>LEI: 549300EPPYTG18BLNK44 | Long             | ABS-CBDO         | CORP              | KY        |  22000000 | PA      | $22015345.00  | 0.19%             | 2034-01-20      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN AB                         | Svenska Handelsbanken AB                                           | CUSIP: 86959LAS2<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |  14000000 | PA      | $14035000.00  | 0.12%             | 2028-05-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O                   | Ford Credit Floorplan Master Owner Trust A                         | CUSIP: 34528QHV9<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |  17100000 | PA      | $17155092.78  | 0.15%             | 2028-05-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                          | MPLX LP                                                            | CUSIP: 55336VAK6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   7530000 | PA      | $7472039.18   | 0.07%             | 2027-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                   | Morgan Stanley                                                     | CUSIP: 61747YET8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  41019000 | PA      | $40997391.19  | 0.36%             | 2026-07-17      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| NETAPP INC                                       | NetApp Inc                                                         | CUSIP: 64110DAL8<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $49881999.00  | 0.44%             | 2025-06-22      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2015-P2                      | CUSIP: 95000AAT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13323589 | PA      | $13234487.71  | 0.12%             | 2048-12-15      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-C2                        | CUSIP: 17291CBQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14491998 | PA      | $14194345.79  | 0.13%             | 2049-08-10      | Fixed         | 2.58%                 | Yes           |                  2 | On Loan: No      |
| BELLCANADA                                       | BELLCANADA                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  45000000 | PA      | $44894065.50  | 0.40%             | 2025-06-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK9                                                     | CUSIP: 06540RAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  20040000 | PA      | $19405006.55  | 0.17%             | 2054-11-15      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                  | Venture 28A Clo Ltd                                                | CUSIP: 92331DBJ6<br>LEI: 549300NQLVRN86RJ6081 | Long             | ABS-CBDO         | CORP              | KY        |  30000000 | PA      | $30003255.00  | 0.26%             | 2034-10-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                              | LCM 31 Ltd                                                         | CUSIP: 50201QAL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $9996638.00   | 0.09%             | 2034-07-20      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES LIM                        | TRANSCANADA PIPELINES LIM                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18500000 | PA      | $18490603.85  | 0.16%             | 2025-06-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Shackleton CLO LTD                               | Shackleton 2014-V-R CLO Ltd                                        | CUSIP: 81881JAC6<br>LEI: 549300OM5GJJFIKCOZ48 | Long             | ABS-CBDO         | CORP              | KY        |   4967617 | PA      | $4975370.31   | 0.04%             | 2031-05-07      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                             | WEC Energy Group Inc                                               | CUSIP: 92939UAK2<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |  23000000 | PA      | $23004776.64  | 0.20%             | 2026-01-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| General Motors                                   | GMF Floorplan Owner Revolving Trust                                | CUSIP: 361886DK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  25000000 | PA      | $25053612.50  | 0.22%             | 2028-11-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XFE1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17546456.03  | 0.15%             | 2028-04-04      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                                | CBRE SERVICES INC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14918142.00  | 0.13%             | 2025-07-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXXVIII Ltd                                   | CUSIP: 55821KAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1076923 | PA      | $1076919.19   | 0.01%             | 2034-07-17      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2021-ARIA                                                 | CUSIP: 05608RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  29078000 | PA      | $28932610.00  | 0.26%             | 2036-10-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                             | Royal Bank of Canada                                               | CUSIP: 78016EZR1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   7027000 | PA      | $7029829.07   | 0.06%             | 2026-04-27      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| ACCENTURE CAPITAL INC                            | Accenture Capital Inc                                              | CUSIP: 00440KAA1<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |  22940000 | PA      | $22774407.38  | 0.20%             | 2027-10-04      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES LIM                        | TRANSCANADA PIPELINES LIM                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14494479.85  | 0.13%             | 2025-06-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                     | CD 2016-CD2 Mortgage Trust                                         | CUSIP: 12515ABD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2327985 | PA      | $2285609.41   | 0.02%             | 2049-11-10      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CD 5.7000 20250730               | BANK OF AMERICA CD 5.7000 20250730                                 | CUSIP: 06050FMH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10002953.00  | 0.09%             | 2025-07-30      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2024-1 LLC                              | CUSIP: 29375PAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4574675 | PA      | $4601470.29   | 0.04%             | 2030-03-20      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                     | NiSource Inc                                                       | CUSIP: 65473PAK1<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |  32000000 | PA      | $31740470.40  | 0.28%             | 2025-08-15      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                | Cisco Systems Inc                                                  | CUSIP: 17275RBW1<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |  27500000 | PA      | $27778487.28  | 0.25%             | 2028-02-24      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                          | Cooperatieve Rabobank UA/NY                                        | CUSIP: 21688ABE1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  15000000 | PA      | $15057745.50  | 0.13%             | 2027-03-05      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| NATIONAL SECS CLEARING                           | National Securities Clearing Corp                                  | CUSIP: 637639AP0<br>LEI: 549300RYC9NELN2ICA34 | Long             | DBT              | CORP              | US        |   9450000 | PA      | $9458940.93   | 0.08%             | 2027-05-20      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                               | BMW US Capital LLC                                                 | CUSIP: 05565ECD5<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20009660.00  | 0.18%             | 2025-08-11      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                 | Symphony CLO XVIII Ltd                                             | CUSIP: 87154GEY7<br>LEI: 549300JQYSBIW1AM8R32 | Long             | ABS-CBDO         | CORP              | KY        |  30821879 | PA      | $30788354.22  | 0.27%             | 2033-07-23      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                    | UBS Commercial Mortgage Trust 2017-C4                              | CUSIP: 90276RBD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11843356 | PA      | $11553215.47  | 0.10%             | 2050-10-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note                   | Toyota Auto Loan Extended Note Trust 2021-1                        | CUSIP: 89237MAA7<br>LEI: 54930055QDKD6LCRW256 | Long             | ABS-O            | CORP              | US        |  56600000 | PA      | $55183047.30  | 0.49%             | 2034-02-27      | Fixed         | 1.07%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                              | SOUND POINT CLO XXII LTD                                           | CUSIP: 83611KAW2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  32054175 | PA      | $32057113.93  | 0.28%             | 2032-01-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                                       | CABOT CORP                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23000000 | PA      | $22985482.40  | 0.20%             | 2025-06-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                   | Avis Budget Rental Car Funding AESOP LLC                           | CUSIP: 05377REZ3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |  35000000 | PA      | $34469130.50  | 0.30%             | 2028-08-21      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                             | ROYAL BANK OF CANADA                                               | CUSIP: 78014XMV6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  20000000 | PA      | $20000602.00  | 0.18%             | 2025-06-05      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| GIVAUDANUNITEDSTATESIN                           | GIVAUDANUNITEDSTATESIN                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11000000 | PA      | $10990182.50  | 0.10%             | 2025-06-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TND3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  13750000 | PA      | $13743194.71  | 0.12%             | 2026-02-24      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2012-CCRE4 Mortgage Trust                                     | CUSIP: 12624QAR4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     89694 | PA      | $85613.36     | 0.00%             | 2045-10-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JAY3<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14937972.00  | 0.13%             | 2027-11-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| GENERAL DYNAMICS CORP                            | General Dynamics Corp                                              | CUSIP: 369550AZ1<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |   5120000 | PA      | $4936817.82   | 0.04%             | 2027-11-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680BA0<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17859678.12  | 0.16%             | 2025-09-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                         | Enterprise Products Operating LLC                                  | CUSIP: 29379VCC5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |  14750000 | PA      | $14788388.50  | 0.13%             | 2026-01-10      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                    | Amphenol Corp                                                      | CUSIP: 032095AN1<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |  29290000 | PA      | $29685920.25  | 0.26%             | 2027-04-05      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                         | Volkswagen Group of America Finance LLC                            | CUSIP: 928668CA8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50628415.00  | 0.45%             | 2026-11-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                             | WEC Energy Group Inc                                               | CUSIP: 92939UAH9<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6001893.54   | 0.05%             | 2025-09-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                         | New York Life Global Funding                                       | CUSIP: 64953BBL1<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |  55000000 | PA      | $55108635.45  | 0.49%             | 2027-04-02      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                         | RTX Corp                                                           | CUSIP: 75513ECT6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40692067.60  | 0.36%             | 2026-11-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION                                 | TORONTO-DOMINION                                                   | CUSIP: 89119AXA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34433346.50  | 0.30%             | 2025-10-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                   | Avis Budget Rental Car Funding AESOP LLC                           | CUSIP: 05377RHL1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   6650000 | PA      | $6813302.06   | 0.06%             | 2028-08-21      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                             | Royal Bank of Canada                                               | CUSIP: 78016EZP5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10004100.00  | 0.09%             | 2026-01-20      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                     | AGL CLO 22 Ltd                                                     | CUSIP: 00118XAS5<br>LEI: 54930001FXLJVDHJU506 | Long             | ABS-CBDO         | CORP              | JE        |  50000000 | PA      | $49951295.00  | 0.44%             | 2037-01-20      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                           | Canyon Capital CLO 2017-1 Ltd                                      | CUSIP: 13876GAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7566397 | PA      | $7576859.29   | 0.07%             | 2030-07-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2016-3 Ltd                                                | CUSIP: 92915HAW3<br>LEI: 549300001G5S0D8B8343 | Long             | ABS-CBDO         | CORP              | KY        |   9506928 | PA      | $9509215.92   | 0.08%             | 2031-10-18      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                         | Marsh & McLennan Cos Inc                                           | CUSIP: 571748BZ4<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   9110000 | PA      | $9111387.36   | 0.08%             | 2027-11-08      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                        | ONEOK Inc                                                          | CUSIP: 682680CB7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |  33740000 | PA      | $33523836.93  | 0.30%             | 2027-09-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KCR9<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30057503.10  | 0.27%             | 2026-01-29      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE                           | Alliant Energy Finance LLC                                         | CUSIP: 01882YAF3<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |  10710000 | PA      | $10812790.94  | 0.10%             | 2027-06-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                             | Westpac Banking Corp                                               | CUSIP: 9612E0DL8<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |  25000000 | PA      | $24980372.50  | 0.22%             | 2028-03-06      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WGA3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34958398.65  | 0.31%             | 2026-12-11      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                | Sysco Corp                                                         | CUSIP: 871829BC0<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $13815170.74  | 0.12%             | 2026-07-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                    | Owens Corning                                                      | CUSIP: 690742AN1<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |   7976000 | PA      | $8105926.65   | 0.07%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                          | John Deere Capital Corp                                            | CUSIP: 24422EWP0<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  29000000 | PA      | $29030329.65  | 0.26%             | 2026-01-09      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Whitebox CLO III Ltd                             | Whitebox CLO III Ltd                                               | CUSIP: 96467HAL0<br>LEI: 549300JXCQSPB1A61C68 | Long             | ABS-CBDO         | CORP              | KY        |  16100000 | PA      | $16122540.00  | 0.14%             | 2035-10-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                               | Union Pacific Corp                                                 | CUSIP: 907818GE2<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $16016362.40  | 0.14%             | 2026-02-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                                   | CUSIP: 91282CLX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  31000000 | PA      | $31171952.97  | 0.28%             | 2027-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                         | Volkswagen Group of America Finance LLC                            | CUSIP: 928668CP5<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  16700000 | PA      | $16703139.60  | 0.15%             | 2028-03-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                          | Metropolitan Life Global Funding I                                 | CUSIP: 59217GFC8<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |  23250000 | PA      | $23222896.78  | 0.20%             | 2025-08-25      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2018-L1                             | CUSIP: 61691QAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2521722 | PA      | $2501051.75   | 0.02%             | 2051-10-15      | Variable      | 4.24%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK5                                                     | CUSIP: 06541WAW2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13521280 | PA      | $13168386.47  | 0.12%             | 2060-06-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                       | JP MORGAN SECURITIES LLC                                           | CUSIP: 46656HFA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15008994.60  | 0.13%             | 2025-12-10      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| SVENSKA HAN 4.5 10/25                            | SVENSKA HAN 4.5 10/25                                              | CUSIP: 86959THV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  45000000 | PA      | $44997192.00  | 0.40%             | 2025-10-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                            | PACCAR Financial Corp                                              | CUSIP: 69371RR99<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24959280.75  | 0.22%             | 2025-08-11      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| PPM CLO LTD                                      | PPM CLO 2018-1 Ltd                                                 | CUSIP: 69355DAA5<br>LEI: 549300NI5BL19ELU5U14 | Long             | ABS-CBDO         | CORP              | KY        |   2381213 | PA      | $2386570.82   | 0.02%             | 2031-07-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                   | Carlyle Global Market Strategies CLO 2015-5 Ltd                    | CUSIP: 14312JBG6<br>LEI: 5493007AYUHLOG0AMH17 | Long             | ABS-CBDO         | CORP              | KY        |  14359439 | PA      | $14345966.69  | 0.13%             | 2032-01-20      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| MTN Commercial Mortgage Trust                    | MTN Commercial Mortgage Trust 2022-LPFL                            | CUSIP: 62475WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2230000 | PA      | $2228606.25   | 0.02%             | 2039-03-15      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg                   | DBJPM 16-C1 Mortgage Trust                                         | CUSIP: 23312LAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1913500 | PA      | $1881130.66   | 0.02%             | 2049-05-10      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                          | John Deere Capital Corp                                            | CUSIP: 24422EXS3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  11635000 | PA      | $11641964.83  | 0.10%             | 2027-06-11      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Carlyle C17 CLO                                  | Carlyle C17 CLO Ltd                                                | CUSIP: 14307PAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4274812 | PA      | $4277257.67   | 0.04%             | 2031-04-30      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTL HLDINGS NE                         | Mondelez International Holdings Netherlands BV                     | CUSIP: 60920LAS3<br>LEI: 549300CW356R8I7N8D33 | Long             | DBT              | CORP              | NL        |  13750000 | PA      | $13720337.13  | 0.12%             | 2025-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                           | Northwoods Capital XV Ltd                                          | CUSIP: 66860GAU8<br>LEI: 549300YIKFTAGHX8G333 | Long             | ABS-CBDO         | CORP              | KY        |  52000000 | PA      | $51968269.60  | 0.46%             | 2034-06-20      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                       | CUSIP: 902613AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  15000000 | PA      | $15070963.50  | 0.13%             | 2027-01-12      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-P4                        | CUSIP: 29429EAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $9781690.00   | 0.09%             | 2049-07-10      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                                | CBRE SERVICES INC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  70000000 | PA      | $69879663.00  | 0.62%             | 2025-06-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA-PACIFIC LLC                              | Georgia-Pacific LLC                                                | CUSIP: 37331NAR2<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6007336.44   | 0.05%             | 2028-06-30      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS4                              | CUSIP: 36251XAR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4418500 | PA      | $4326497.55   | 0.04%             | 2049-11-10      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                       | ABBVIE INC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19757354.00  | 0.17%             | 2025-09-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                   | JPMBB Commercial Mortgage Securities Trust 2015-C31                | CUSIP: 46644YAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5633264 | PA      | $5607596.68   | 0.05%             | 2048-08-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                                   | ICG US Clo 2020-1 Ltd                                              | CUSIP: 449251AU1<br>LEI: 254900UXTGDH0QOBDH07 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49996660.00  | 0.44%             | 2035-01-20      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion CLO XII Ltd                                              | CUSIP: 07133RAW5<br>LEI: 549300JIE0P78OIZGS60 | Long             | ABS-CBDO         | CORP              | KY        |  20565549 | PA      | $20546973.81  | 0.18%             | 2031-05-17      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                              | Wells Fargo Bank NA                                                | CUSIP: 94988J6J1<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |  12800000 | PA      | $12813074.69  | 0.11%             | 2026-01-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2016-GS4                              | CUSIP: 36251XAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5764436 | PA      | $5655735.80   | 0.05%             | 2049-11-10      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2017-C4                        | CUSIP: 17326FAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1073600 | PA      | $1038265.97   | 0.01%             | 2050-10-12      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-242123.28   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                  | Weyerhaeuser Co                                                    | CUSIP: 962166CC6<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              | CORP              | US        |  40000000 | PA      | $40066931.20  | 0.35%             | 2026-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                               | BANK OF AMERICA NA                                                 | CUSIP: 06050FMT6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14508321.55  | 0.13%             | 2025-10-27      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                       | ABBVIE INC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11040000 | PA      | $10901875.25  | 0.10%             | 2025-09-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                    | Ballyrock CLO 2020-2 Ltd                                           | CUSIP: 05875DAJ1<br>LEI: 254900Y6C4AXEAZ9T124 | Long             | ABS-CBDO         | CORP              | KY        |  16966199 | PA      | $16976027.05  | 0.15%             | 2031-10-20      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                            | Toronto-Dominion Bank/The                                          | CUSIP: 89115KAD2<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  22500000 | PA      | $22504068.00  | 0.20%             | 2028-06-02      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| CARGILL INC                                      | Cargill Inc                                                        | CUSIP: 141781CE2<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |  45700000 | PA      | $46069115.24  | 0.41%             | 2028-02-11      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                         | Volkswagen Group of America Finance LLC                            | CUSIP: 928668CN0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   8300000 | PA      | $8297879.35   | 0.07%             | 2027-03-25      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| LSEG US FIN CORP                                 | Lseg US Fin Corp                                                   | CUSIP: 50222CAA8<br>LEI: 2138007FV67QQ13CGJ43 | Long             | DBT              | CORP              | US        |   7140000 | PA      | $7187554.54   | 0.06%             | 2027-03-28      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL COMPANY (THE                        | DOW CHEMICAL COMPANY (THE                                          | CUSIP: 26055ATL0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35500000 | PA      | $35403525.20  | 0.31%             | 2025-06-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-C35                     | CUSIP: 95000FAS5<br>LEI: 549300MZIB10PDVAE312 | Long             | ABS-MBS          | CORP              | US        |   1946825 | PA      | $1912019.16   | 0.02%             | 2048-07-15      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                     | CD 2017-CD3 Mortgage Trust                                         | CUSIP: 12515GAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1126507 | PA      | $1103425.92   | 0.01%             | 2050-02-10      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| TCW CLO 2017-1, Ltd                              | TCW CLO 2017-1A Ltd                                                | CUSIP: 87240NBG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  35000000 | PA      | $35050148.00  | 0.31%             | 2034-10-29      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                           | American Honda Finance Corp                                        | CUSIP: 02665WFB2<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10001671.40  | 0.09%             | 2025-08-14      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus                   | CSAIL 2016-C5 Commercial Mortgage Trust                            | CUSIP: 12636LAZ3<br>LEI: 549300FU8TZDHFLQZL50 | Long             | ABS-MBS          | CORP              | US        |    112247 | PA      | $111973.58    | 0.00%             | 2048-11-15      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KCS7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  19000000 | PA      | $19042828.66  | 0.17%             | 2026-01-29      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2021-4 Ltd                              | CUSIP: 69702HAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1276585 | PA      | $1276254.64   | 0.01%             | 2029-10-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                               | BANK OF AMERICA NA                                                 | CUSIP: 06054RAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25010823.50  | 0.22%             | 2026-04-27      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| NATIXIS NY BRANCH                                | Natixis SA/New York NY                                             | CUSIP: 63873Q6M1<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10042610.00  | 0.09%             | 2026-10-29      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Saratoga Investment Corp CLO L                   | Saratoga Investment Corp CLO 2013-1 Ltd                            | CUSIP: 80349BCD7<br>LEI: 549300471O2DE0Y4L506 | Long             | ABS-CBDO         | CORP              | KY        |  13721049 | PA      | $13745668.93  | 0.12%             | 2033-04-20      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                   | Carlyle Global Market Strategies CLO 2014-1 Ltd                    | CUSIP: 14310MAW7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1152342 | PA      | $1153329.53   | 0.01%             | 2031-04-17      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                   | JPMBB Commercial Mortgage Securities Trust 2014-C24                | CUSIP: 46643GAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    843685 | PA      | $827091.51    | 0.01%             | 2047-11-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| VW CREDIT INC                                    | VW CREDIT INC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9929849.00   | 0.09%             | 2025-07-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                           | Protective Life Global Funding                                     | CUSIP: 74368CBX1<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |  19000000 | PA      | $19136694.36  | 0.17%             | 2027-01-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                  | McDonald's Corp                                                    | CUSIP: 58013MFN9<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |  16249000 | PA      | $16231369.02  | 0.14%             | 2025-07-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                          | Corebridge Global Funding                                          | CUSIP: 00138CBB3<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25050568.00  | 0.22%             | 2027-08-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                   | Starbucks Corp                                                     | CUSIP: 855244BG3<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |  34375000 | PA      | $34601032.81  | 0.31%             | 2027-02-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2013-2 Ltd                                                | CUSIP: 92916WAA7<br>LEI: 5493007ASGBOUR3XJY69 | Long             | ABS-CBDO         | CORP              | KY        |    936494 | PA      | $937444.68    | 0.01%             | 2031-04-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2023-2 LLC                              | CUSIP: 29375NAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3908185 | PA      | $3928737.75   | 0.03%             | 2030-04-22      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                          | Hyundai Capital America                                            | CUSIP: 44891ACZ8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |  16670000 | PA      | $16650370.74  | 0.15%             | 2027-03-19      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                      | Citibank NA                                                        | CUSIP: 17330QHD2<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10002320.00  | 0.09%             | 2025-08-26      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| NXP BV                                           | NXP BV                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19768000.00  | 0.17%             | 2025-08-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2019-RPL1 Trust                                               | CUSIP: 12596MAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3374907 | PA      | $3301255.92   | 0.03%             | 2058-07-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                     | ARES XLV CLO Ltd                                                   | CUSIP: 04016QAE6<br>LEI: 549300VFCO6SQG8OL714 | Long             | ABS-CBDO         | CORP              | KY        |  13408256 | PA      | $13398367.64  | 0.12%             | 2030-10-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                               | Diageo Capital PLC                                                 | CUSIP: 25243YBF5<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |  17000000 | PA      | $17024328.70  | 0.15%             | 2025-10-24      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JAB3<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8523954.70   | 0.08%             | 2025-11-26      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GIVAUDAN UNITED STATES IN                        | GIVAUDAN UNITED STATES IN                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  50000000 | PA      | $49845720.00  | 0.44%             | 2025-06-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2018-COR3 Mortgage Trust                                      | CUSIP: 12595VAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1589909 | PA      | $1544557.55   | 0.01%             | 2051-05-10      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| FED CAISSES DESJARDINS                           | Federation des Caisses Desjardins du Quebec                        | CUSIP: 31429KAG8<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |  25000000 | PA      | $24980375.00  | 0.22%             | 2025-08-23      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                         | Principal Life Global Funding II                                   | CUSIP: 74256LEX3<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |   7714000 | PA      | $7771747.08   | 0.07%             | 2027-01-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XLV Ltd                                       | CUSIP: 55820BAS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  17000000 | PA      | $16993120.10  | 0.15%             | 2034-07-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| WELLTOWER INC                                    | WELLTOWER INC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  77000000 | PA      | $76950974.10  | 0.68%             | 2025-06-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XLVIII Ltd                                    | CUSIP: 55821UAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  13619558 | PA      | $13674901.11  | 0.12%             | 2033-04-19      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                | Jamestown CLO XII Ltd                                              | CUSIP: 47047JAJ3<br>LEI: 254900TDIR3OOT3N8P57 | Long             | ABS-CBDO         | CORP              | KY        |   7128922 | PA      | $7135556.22   | 0.06%             | 2032-04-20      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XDZ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  20625000 | PA      | $20697780.68  | 0.18%             | 2025-10-10      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMP BK COMM NY                          | Canadian Imperial Bank of Commerce/New York NY                     | CUSIP: 13606DBK7<br>LEI: 549300H8L46OOZOFHU82 | Long             | DBT              | CORP              | CA        |  31000000 | PA      | $31028535.50  | 0.27%             | 2025-11-21      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2018-B2 Mortgage Trust                                   | CUSIP: 08161CAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       652 | PA      | $644.47       | 0.00%             | 2051-02-15      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2023-3 LLC                              | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8793646 | PA      | $8922316.57   | 0.08%             | 2030-03-20      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                                | Johnson & Johnson                                                  | CUSIP: 478160DH4<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |  19800000 | PA      | $20076632.93  | 0.18%             | 2028-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                             | Mercedes-Benz Finance North America LLC                            | CUSIP: 58769JBD8<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14967450.00  | 0.13%             | 2027-04-01      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | BOFA SECURITIES INC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34983102.00  | 0.31%             | 2026-05-28      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                | CUSIP: 65339KBS8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4510233.72   | 0.04%             | 2025-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-                   | One New York Plaza Trust 2020-1NYP                                 | CUSIP: 68249DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17410000 | PA      | $16898581.25  | 0.15%             | 2036-01-15      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XCX2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8988980.67   | 0.08%             | 2025-06-20      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TKT1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15000390.00  | 0.13%             | 2026-05-18      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL                           | Banque Federative du Credit Mutuel SA                              | CUSIP: 06675DCH3<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |  10890000 | PA      | $10955850.74  | 0.10%             | 2027-01-23      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                         | Alexandria Real Estate Equities Inc                                | CUSIP: 015271AP4<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |   3370000 | PA      | $3343836.74   | 0.03%             | 2026-04-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation Clo 2021-13 Ltd                                          | CUSIP: 28622EAS7<br>LEI: 549300YZ3RIOTSOP0V95 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49975000.00  | 0.44%             | 2034-07-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                      | Walmart Inc                                                        | CUSIP: 931142EW9<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |  13750000 | PA      | $13728112.20  | 0.12%             | 2025-09-09      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                           | Morgan Stanley Bank NA                                             | CUSIP: 61690U8F0<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |  30420000 | PA      | $30414067.80  | 0.27%             | 2027-10-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| JEFFERSON MILL CLO LTD                           | Jefferson Mill CLO Ltd                                             | CUSIP: 47421MBJ1<br>LEI: 549300RV1TCF15DHXS87 | Long             | ABS-CBDO         | CORP              | KY        |  14568288 | PA      | $14587505.52  | 0.13%             | 2031-10-20      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                            | Toronto-Dominion Bank/The                                          | CUSIP: 89115KAA8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   7500000 | PA      | $7502957.25   | 0.07%             | 2028-06-02      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB New York Branch         | Svenska Handelsbanken AB New York Branch                           | CUSIP: 86959TJD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13250000 | PA      | $13255233.75  | 0.12%             | 2025-11-12      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| OCT64 2022-1A FRN 7/34                           | OCT64 2022-1A FRN 7/34                                             | CUSIP: 67579AAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |  50000000 | PA      | $50000000.00  | 0.44%             | 2034-07-21      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2015-GC33                      | CUSIP: 29425AAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2250000 | PA      | $2239533.23   | 0.02%             | 2058-09-10      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2018-B5 Mortgage Trust                                   | CUSIP: 08160BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    521933 | PA      | $502000.12    | 0.00%             | 2051-07-15      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2014-2 Ltd                                                | CUSIP: 92912VAY1<br>LEI: 549300L8S87K3SMP0R77 | Long             | ABS-CBDO         | CORP              | KY        |      6809 | PA      | $6809.28      | 0.00%             | 2030-04-17      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| BIOGEN INC                                       | Biogen Inc                                                         | CUSIP: 09062XAF0<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |  36696000 | PA      | $36667608.67  | 0.32%             | 2025-09-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25        | CUSIP: 61765TAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10333000 | PA      | $10283480.13  | 0.09%             | 2048-10-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2022-LBA6                                                 | CUSIP: 12433EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  37009000 | PA      | $36928042.81  | 0.33%             | 2039-01-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| HCP INC                                          | HCP INC                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  43000000 | PA      | $42898558.70  | 0.38%             | 2025-06-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| (PIPA070) PGIM Core Government Money Market Fund | (PIPA070) PGIM Core Government Money Market Fund                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        | 240197126 | NS      | $240197125.57 | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-P5                        | CUSIP: 17325DAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4836259 | PA      | $4722406.41   | 0.04%             | 2049-10-10      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| ING (US) FUNDING LLC                             | ING US FUNDING LLC                                                 | CUSIP: 44988GEZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $35016789.15  | 0.31%             | 2025-09-03      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| CENOVUS ENERGY INC                               | Cenovus Energy Inc                                                 | CUSIP: 15135UAM1<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |  33000000 | PA      | $32723407.20  | 0.29%             | 2027-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2024-HE2                                  | CUSIP: 46593HAA6<br>LEI: 529900ELA1S09AZO9Q54 | Long             | ABS-O            | CORP              | US        |   7020880 | PA      | $7007280.41   | 0.06%             | 2054-10-20      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                          | National Australia Bank Ltd                                        | CUSIP: 632525CG4<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |  25000000 | PA      | $24947867.50  | 0.22%             | 2028-03-06      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                | Jamestown CLO XIV Ltd                                              | CUSIP: 47048XBC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  40000000 | PA      | $39931020.00  | 0.35%             | 2034-10-20      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                         | BHP Billiton Finance USA Ltd                                       | CUSIP: 055451AY4<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |  30000000 | PA      | $30082896.00  | 0.27%             | 2026-02-27      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                   | Home Depot Inc/The                                                 | CUSIP: 437076DB5<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |  21700000 | PA      | $21997204.72  | 0.19%             | 2027-06-25      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| 3650R Commercial Mortgage Trus                   | 3650R 2021-PF1 Commercial Mortgage Trust                           | CUSIP: 88581EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2608250 | PA      | $2535295.75   | 0.02%             | 2054-11-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2015-MS1                            | CUSIP: 61765DAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5927925 | PA      | $5914395.61   | 0.05%             | 2048-05-15      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                         | Microchip Technology Inc                                           | CUSIP: 595017BK9<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $16054628.32  | 0.14%             | 2028-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Clover CLO                                       | Clover CLO 2021-3 LLC                                              | CUSIP: 18915FAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  16000000 | PA      | $15988203.20  | 0.14%             | 2035-01-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-C1                        | CUSIP: 17290YAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5735745 | PA      | $5665693.70   | 0.05%             | 2049-05-10      | Fixed         | 2.94%                 | Yes           |                  2 | On Loan: No      |
| CREDIT AGRICOL 4.51 10/25                        | CREDIT AGRICOL 4.51 10/25                                          | CUSIP: 22536HXV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19998424.00  | 0.18%             | 2025-10-21      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2016-NXS6                    | CUSIP: 95000KBB0<br>LEI: 549300CFP9NBBMZH1008 | Long             | ABS-MBS          | CORP              | US        |   2390000 | PA      | $2320884.55   | 0.02%             | 2049-11-15      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                                   | Romark WM-R Ltd                                                    | CUSIP: 77587AAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6220700 | PA      | $6227073.49   | 0.05%             | 2031-04-20      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTICS INC                            | Quest Diagnostics Inc                                              | CUSIP: 74834LBE9<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |   7400000 | PA      | $7432278.65   | 0.07%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Atlas Static Senior Loan Fund                    | Atlas Static Senior Loan Fund I Ltd                                | CUSIP: 04942PAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3523797 | PA      | $3525630.14   | 0.03%             | 2030-07-15      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2017-C41                     | CUSIP: 95001ABC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    815000 | PA      | $792958.08    | 0.01%             | 2050-11-15      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                 | TRINITAS CLO IV LTD                                                | CUSIP: 89640XBK1<br>LEI: 635400UFTIJ9NEWTCB16 | Long             | ABS-CBDO         | CORP              | KY        |   1561027 | PA      | $1562156.23   | 0.01%             | 2031-10-18      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE EQ                        | ALEXANDRIA REAL ESTATE EQ                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17493367.50  | 0.15%             | 2025-06-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                   | Enterprise Fleet Financing 2023-1 LLC                              | CUSIP: 29375CAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2113949 | PA      | $2120508.10   | 0.02%             | 2029-01-22      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                   | Avis Budget Rental Car Funding AESOP LLC                           | CUSIP: 05377RGU2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |  20000000 | PA      | $20227204.00  | 0.18%             | 2028-02-22      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                            | KKR CLO 11 Ltd                                                     | CUSIP: 48250MAK3<br>LEI: 549300PJRIGYUE3V5M12 | Long             | ABS-CBDO         | CORP              | KY        |    285994 | PA      | $286667.16    | 0.00%             | 2031-01-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                      | Equifax Inc                                                        | CUSIP: 294429AL9<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |   7600000 | PA      | $7485200.10   | 0.07%             | 2026-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2015-LC23 Mortgage Trust                                      | CUSIP: 12636FBJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11580000 | PA      | $11514139.91  | 0.10%             | 2048-10-10      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                         | International Business Machines Corp                               | CUSIP: 459200KW0<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |  37000000 | PA      | $36962530.47  | 0.33%             | 2026-02-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SUNCOR ENERGY INC.                               | SUNCOR ENERGY INC.                                                 | CUSIP: 86723AT51<br>LEI: N/A                  | Long             | DBT              | CORP              | US        | 100250000 | PA      | $100173018.03 | 0.88%             | 2025-06-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $1106003.87   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| APPLE INC                                        | Apple Inc                                                          | CUSIP: 037833BY5<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |  13150000 | PA      | $13034541.82  | 0.12%             | 2026-02-23      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                    | Citigroup Commercial Mortgage Trust 2016-C3                        | CUSIP: 17325GAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5447000 | PA      | $5309254.63   | 0.05%             | 2049-11-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Swedbank Sparbanken Svenge Ab                    | Swedbank Sparbanken Svenge Ab                                      | CUSIP: 87019WZN8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29996028.00  | 0.26%             | 2025-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TIAA CLO Ltd                                     | TIAA CLO IV Ltd                                                    | CUSIP: 88631YAL1<br>LEI: 5493000Q4E256SBMCY29 | Long             | ABS-CBDO         | CORP              | KY        |  12644857 | PA      | $12646213.99  | 0.11%             | 2032-01-20      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                         | Toyota Motor Credit Corp                                           | CUSIP: 89236TML6<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6021250.38   | 0.05%             | 2026-08-07      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2014-1 Ltd                                                | CUSIP: 92915PAH8<br>LEI: 549300ITL5IR423IJ183 | Long             | ABS-CBDO         | CORP              | KY        |    453224 | PA      | $453643.59    | 0.00%             | 2031-04-18      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                         | ALIMENTATION COUCHE-TARD                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  29000000 | PA      | $28901652.30  | 0.26%             | 2025-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ERP OPERATING LP                                 | ERP OPERATING LP                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  55000000 | PA      | $54332723.50  | 0.48%             | 2025-09-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                             | Keurig Dr Pepper Inc                                               | CUSIP: 49271VAS9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |  26000000 | PA      | $26123200.74  | 0.23%             | 2027-03-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| PGIM AAA CLO ETF                                 | PGIM AAA CLO ETF                                                   | CUSIP: 69344A834<br>LEI: 5493000IJ4TGDWNHKI54 | Long             | EC               | RF                | US        |   1797750 | NS      | $92404350.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-679086.88   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HERSHEY COMPANY                                  | Hershey Co/The                                                     | CUSIP: 427866BK3<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12115558.08  | 0.11%             | 2028-02-24      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2018-2                                   | CUSIP: 89175VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2635482 | PA      | $2594987.65   | 0.02%             | 2058-03-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C33        | CUSIP: 61767CAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17000000 | PA      | $16644861.50  | 0.15%             | 2050-05-15      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV                                 | ABN AMRO Bank NV                                                   | CUSIP: 00084DBG4<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |  93000000 | PA      | $93412622.40  | 0.82%             | 2027-01-22      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                | Wellfleet CLO X LTD                                                | CUSIP: 94949WAR7<br>LEI: 254900A99ZMAJM1OOV76 | Long             | ABS-CBDO         | CORP              | KY        |  44852075 | PA      | $44818135.19  | 0.40%             | 2032-07-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                              | Sherwin-Williams Co/The                                            | CUSIP: 824348BR6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5489170.12   | 0.05%             | 2025-08-08      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2024-2 Ltd                              | CUSIP: 69703RAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  22722851 | PA      | $22736732.04  | 0.20%             | 2033-01-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-CIP                              | CUSIP: 12434FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  37563484 | PA      | $37493052.22  | 0.33%             | 2038-12-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                           | Canyon Capital CLO 2016-1 Ltd                                      | CUSIP: 13887PAK1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10656791 | PA      | $10674998.06  | 0.09%             | 2031-07-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| DOLLARTREEINC                                    | DOLLARTREEINC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  50000000 | PA      | $49954985.00  | 0.44%             | 2025-06-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $904262.30    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                    | CUSIP: 37045XEW2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29781366.00  | 0.26%             | 2027-07-15      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                            | KKR CLO 18 Ltd                                                     | CUSIP: 48251JAL7<br>LEI: 54930088PYF0FHKY5C94 | Long             | ABS-CBDO         | CORP              | KY        |   2525332 | PA      | $2526720.77   | 0.02%             | 2030-07-18      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                           | Protective Life Global Funding                                     | CUSIP: 743672AE7<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10011783.10  | 0.09%             | 2026-04-10      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CIB NY                           | Credit Agricole Corporate and Investment Bank/New York             | CUSIP: 22532XXF0<br>LEI: 254900BN8XS34XZDJ223 | Long             | DBT              | CORP              | FR        |  44000000 | PA      | $44052504.76  | 0.39%             | 2025-08-28      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Regatta XVI Funding Ltd.                         | Regatta XVI Funding Ltd                                            | CUSIP: 75888TAL9<br>LEI: 254900XPJFGKL5R4O429 | Long             | ABS-CBDO         | CORP              | KY        |  29207282 | PA      | $29173605.97  | 0.26%             | 2033-01-15      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                 | Hewlett Packard Enterprise Co                                      | CUSIP: 42824CAW9<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |  31000000 | PA      | $30997347.02  | 0.27%             | 2025-10-15      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                 | Deutsche Bank AG/New York NY                                       | CUSIP: 251526CE7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  25000000 | PA      | $24635457.50  | 0.22%             | 2026-11-24      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                         | Principal Life Global Funding II                                   | CUSIP: 7425APAB1<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |  27000000 | PA      | $27040770.00  | 0.24%             | 2025-08-28      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CIB NY                           | Credit Agricole Corporate and Investment Bank/New York             | CUSIP: 22532XYG7<br>LEI: 254900BN8XS34XZDJ223 | Long             | DBT              | CORP              | FR        |  10000000 | PA      | $10105449.60  | 0.09%             | 2027-06-07      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                           | Daimler Truck Finance North America LLC                            | CUSIP: 233853BB5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |  16600000 | PA      | $16553852.00  | 0.15%             | 2028-01-13      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                            | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $200201.37    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                           | Protective Life Global Funding                                     | CUSIP: 74368CBZ6<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19881794.60  | 0.18%             | 2027-09-13      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                   | Starbucks Corp                                                     | CUSIP: 855244BN8<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $29977990.20  | 0.26%             | 2028-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                 | Trinitas CLO XI Ltd                                                | CUSIP: 89641HBC3<br>LEI: 549300T8V1JZG1WFK175 | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49970085.00  | 0.44%             | 2034-07-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| HPS Loan Management Ltd                          | HPS Loan Management 13-2018 Ltd                                    | CUSIP: 40437LAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  16563916 | PA      | $16583277.51  | 0.15%             | 2030-10-15      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| BAYER CORP                                       | BAYER CORP                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17395395.50  | 0.15%             | 2025-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VWCREDITINC                                      | VWCREDITINC                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9977988.00   | 0.09%             | 2025-06-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2016-1 Ltd                                                | CUSIP: 92915CAQ7<br>LEI: 549300BRUAMTEA33B077 | Long             | ABS-CBDO         | CORP              | KY        |   6622130 | PA      | $6632067.56   | 0.06%             | 2031-01-20      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Park Avenue Institutional Advi                   | Park Avenue Institutional Advisers CLO Ltd 2018-1                  | CUSIP: 70016RAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    732897 | PA      | $732530.73    | 0.01%             | 2031-10-20      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                | Cisco Systems Inc                                                  | CUSIP: 17275RBC5<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |  19573000 | PA      | $19375663.84  | 0.17%             | 2026-02-28      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCE                         | Pioneer Natural Resources Co                                       | CUSIP: 723787AT4<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |  21470000 | PA      | $21020315.36  | 0.19%             | 2026-01-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** PGIM ETF Trust

**Signature:** Christian J. Kelly

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

**Title:** Chief Financial Officer