# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001795351-25-000518
**Filing Date:** 2025-8
**Character Count:** 58157
**Document Hash:** 4d1c72f81f88b38a2096ceea24636999
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001795351-25-000518.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001795351-25-000518

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 251256936

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

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

## Series and Classes Contracts Data

### T. Rowe Price Value ETF (Series ID: S000079838)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000241226 | T. Rowe Price Value ETF | TVAL            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

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

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

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

- **b. EDGAR series identifier (if any):** S000079838

- **c. LEI of Series:** 254900FB582WEGSQA031

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $488930063.37

**Total Liabilities:** $148789.16

**Net Assets:** $488781274.21

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241226 | -3.19%               | 3.59%                | 3.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1592957.89             | $-10845020.43                              |
| Month 2  | $-177215.06              | $14991741.74                               |
| Month 3  | $4218784.64              | $10381589.81                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGCO Corp                                                  | AGCO CORP COMMON STOCK USD.01                              | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     26911 | NS      | $2776138.76   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                                   | AT+T INC COMMON STOCK USD1.0                               | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    107795 | NS      | $3119587.30   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                                 | ABBVIE INC COMMON STOCK USD.01                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      9136 | NS      | $1695824.32   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                                 | ADVANCED MICRO DEVICES COMMON STOCK USD.01                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     20733 | NS      | $2942012.70   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc                                   | AGILENT TECHNOLOGIES INC COMMON STOCK USD.01               | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |     10951 | NS      | $1292327.51   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                               | ALPHABET INC CL C COMMON STOCK USD.001                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     58653 | NS      | $10404455.67  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                             | AMAZON.COM INC COMMON STOCK USD.01                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     31737 | NS      | $6962780.43   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                                                | AMEREN CORPORATION COMMON STOCK USD.01                     | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     55033 | NS      | $5285369.32   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                                        | AMERICAN EXPRESS CO COMMON STOCK USD.2                     | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      4723 | NS      | $1506542.54   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc                           | AMERICAN INTERNATIONAL GROUP COMMON STOCK USD2.5           | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     18520 | NS      | $1585126.80   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                                                 | AMETEK INC COMMON STOCK USD.01                             | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     10287 | NS      | $1861535.52   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                              | AMPHENOL CORP CL A COMMON STOCK USD.001                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     32204 | NS      | $3180145.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                                         | ANALOG DEVICES INC COMMON STOCK USD.167                    | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     10037 | NS      | $2389006.74   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                                        | ELEVANCE HEALTH INC COMMON STOCK USD.01                    | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     19137 | NS      | $7443527.52   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management Inc                               | APOLLO GLOBAL MANAGEMENT INC COMMON STOCK USD.0001         | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |     10487 | NS      | $1487790.69   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                                      | APPLIED MATERIALS INC COMMON STOCK USD.01                  | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     13391 | NS      | $2451490.37   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp                                       | ARES MANAGEMENT CORP   A COMMON STOCK                      | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |     16211 | NS      | $2807745.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                            | ASTRAZENECA PLC SPONS ADR ADR                              | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     21885 | NS      | $1529323.80   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                                               | AUTOZONE INC COMMON STOCK USD.01                           | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       818 | NS      | $3036604.14   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                                  | AVALONBAY COMMUNITIES INC REIT USD.01                      | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     26613 | NS      | $5415745.50   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                                       | BANK OF AMERICA CORP COMMON STOCK USD.01                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    217614 | NS      | $10297494.48  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc                                   | BAXTER INTERNATIONAL INC COMMON STOCK USD1.0               | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |     82814 | NS      | $2507607.92   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                                      | BECTON DICKINSON AND CO COMMON STOCK USD1.0                | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     20706 | NS      | $3566608.50   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                                              | BLACKROCK INC COMMON STOCK USD.01                          | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      2437 | NS      | $2557022.25   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                                              | BOEING CO/THE COMMON STOCK USD5.0                          | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |     17992 | NS      | $3769863.76   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                                     | BOSTON SCIENTIFIC CORP COMMON STOCK USD.01                 | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     23481 | NS      | $2522094.21   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                                    | CBOE GLOBAL MARKETS INC COMMON STOCK                       | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      7074 | NS      | $1649727.54   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc                                 | CF INDUSTRIES HOLDINGS INC COMMON STOCK USD.01             | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     29891 | NS      | $2749972.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                                            | THE CIGNA GROUP COMMON STOCK USD.01                        | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     10026 | NS      | $3314395.08   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                                              | CME GROUP INC COMMON STOCK USD.01                          | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      8624 | NS      | $2376946.88   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                                                   | CSX CORP COMMON STOCK USD1.0                               | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    105842 | NS      | $3453624.46   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                            | CVS HEALTH CORP COMMON STOCK USD.01                        | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     52995 | NS      | $3655595.10   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp                                 | CAPITAL ONE FINANCIAL CORP COMMON STOCK USD.01             | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     14427 | NS      | $3069488.52   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                                            | CATERPILLAR INC COMMON STOCK USD1.0                        | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      4405 | NS      | $1710065.05   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                                               | CHEVRON CORP COMMON STOCK USD.75                           | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19531 | NS      | $2796643.89   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                                              | CITIGROUP INC COMMON STOCK USD.01                          | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     73663 | NS      | $6270194.56   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                                           | COCA COLA CO/THE COMMON STOCK USD.25                       | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     43015 | NS      | $3043311.25   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co                                       | COLGATE PALMOLIVE CO COMMON STOCK USD1.0                   | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     39916 | NS      | $3628364.40   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                                               | COMCAST CORP CLASS A COMMON STOCK USD.01                   | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     59710 | NS      | $2131049.90   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                             | CONOCOPHILLIPS COMMON STOCK USD.01                         | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     71734 | NS      | $6437409.16   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc                                   | COREBRIDGE FINANCIAL INC COMMON STOCK USD.01               | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |     65110 | NS      | $2311405.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay Inc                                                 | CORPAY INC COMMON STOCK USD.001                            | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |      5908 | NS      | $1960392.56   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                                                | CUMMINS INC COMMON STOCK USD2.5                            | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     11838 | NS      | $3876945.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co                                              | DTE ENERGY COMPANY COMMON STOCK                            | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      8398 | NS      | $1112399.08   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                               | DANAHER CORP COMMON STOCK USD.01                           | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     12689 | NS      | $2506585.06   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                                                 | DEERE + CO COMMON STOCK USD1.0                             | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      6111 | NS      | $3107382.39   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                                     | DIAMONDBACK ENERGY INC COMMON STOCK USD.01                 | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      9124 | NS      | $1253637.60   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                                         | WALT DISNEY CO/THE COMMON STOCK USD.01                     | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     28279 | NS      | $3506878.79   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                                        | DOMINION ENERGY INC COMMON STOCK                           | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     24254 | NS      | $1370836.08   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                                          | EOG RESOURCES INC COMMON STOCK USD.01                      | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     34852 | NS      | $4168647.72   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                                                   | EQT CORP COMMON STOCK                                      | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     45664 | NS      | $2663124.48   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                                                 | ECOLAB INC COMMON STOCK USD1.0                             | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      2717 | NS      | $732068.48    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                                                | EQUIFAX INC COMMON STOCK USD1.25                           | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      4297 | NS      | $1114512.89   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc                                     | EQUITABLE HOLDINGS INC COMMON STOCK USD.01                 | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     87655 | NS      | $4917445.50   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                                           | EXXON MOBIL CORP COMMON STOCK                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     99656 | NS      | $10742916.80  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                         | META PLATFORMS INC CLASS A COMMON STOCK USD.000006         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      7478 | NS      | $5519437.02   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc                                   | FERGUSON ENTERPRISES INC COMMON STOCK USD.0001             | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |     11195 | NS      | $2437711.25   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                        | FIFTH THIRD BANCORP COMMON STOCK                           | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     63902 | NS      | $2628289.26   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                                                 | FISERV INC COMMON STOCK USD.01                             | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     21791 | NS      | $3756986.31   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp                                               | FORTIVE CORP COMMON STOCK USD.01                           | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     44967 | NS      | $2344129.71   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                                             | GE VERNOVA INC COMMON STOCK USD.01                         | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      2945 | NS      | $1558346.75   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                                        | GENERAL ELECTRIC COMMON STOCK USD.01                       | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     28706 | NS      | $7388637.34   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                                        | GILEAD SCIENCES INC COMMON STOCK USD.001                   | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      8270 | NS      | $916894.90    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                                         | HCA HEALTHCARE INC COMMON STOCK USD.01                     | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      5576 | NS      | $2136165.60   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/The                           | HARTFORD INSURANCE GROUP INC COMMON STOCK USD.01           | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     81616 | NS      | $10354621.92  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc                              | HILTON WORLDWIDE HOLDINGS IN COMMON STOCK USD.01           | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      3904 | NS      | $1039791.36   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                                         | HOME DEPOT INC COMMON STOCK USD.05                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     12807 | NS      | $4695558.48   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                                       | HOWMET AEROSPACE INC COMMON STOCK                          | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     21637 | NS      | $4027294.81   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                                | HUBBELL INC COMMON STOCK USD.01                            | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      6165 | NS      | $2517847.65   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH                               | HUNTINGTON BANCSHARES INC COMMON STOCK USD.01              | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    149414 | NS      | $2504178.64   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co                                     | INTERNATIONAL PAPER CO COMMON STOCK USD1.0                 | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |     74832 | NS      | $3504382.56   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMORGAN CHASE + CO COMMON STOCK USD1.0                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     28681 | NS      | $8314908.71   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                          | JOHNSON + JOHNSON COMMON STOCK USD1.0                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     12411 | NS      | $1895780.25   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                                                 | KENVUE INC COMMON STOCK USD.01                             | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    349757 | NS      | $7320414.01   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                                       | KEURIG DR PEPPER INC COMMON STOCK USD.01                   | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     54968 | NS      | $1817242.08   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc                                  | KEYSIGHT TECHNOLOGIES IN COMMON STOCK USD.01               | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |     15923 | NS      | $2609142.78   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp                                        | KIMBERLY CLARK CORP COMMON STOCK USD1.25                   | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     26921 | NS      | $3470655.32   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc                                  | L3HARRIS TECHNOLOGIES INC COMMON STOCK USD1.0              | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     27858 | NS      | $6987900.72   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                                       | LAMAR ADVERTISING CO A REIT USD.001                        | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     12820 | NS      | $1555835.20   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp                                       | LAS VEGAS SANDS CORP COMMON STOCK USD.001                  | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     20165 | NS      | $877379.15    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                                                | LENNAR CORP A COMMON STOCK USD.1                           | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     10953 | NS      | $1211511.33   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                             | ELI LILLY + CO COMMON STOCK                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      5790 | NS      | $4513478.70   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc                                   | MARSH + MCLENNAN COS COMMON STOCK USD1.0                   | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     14780 | NS      | $3231499.20   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD                              | MARRIOTT INTERNATIONAL  CL A COMMON STOCK USD.01           | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      7938 | NS      | $2168740.98   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald s Corp                                            | MCDONALD S CORP COMMON STOCK USD.01                        | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     11641 | NS      | $3401150.97   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                                              | MCKESSON CORP COMMON STOCK USD.01                          | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      7733 | NS      | $5666587.74   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                             | MERCK + CO. INC. COMMON STOCK USD.5                        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     20912 | NS      | $1655393.92   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                                                | METLIFE INC COMMON STOCK USD.01                            | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     56535 | NS      | $4546544.70   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                             | MICROSOFT CORP COMMON STOCK USD.00000625                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      6726 | NS      | $3345579.66   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc                                      | MICRON TECHNOLOGY INC COMMON STOCK USD.1                   | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     24838 | NS      | $3061283.50   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                                      | MOLINA HEALTHCARE INC COMMON STOCK USD.001                 | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |      4862 | NS      | $1448389.80   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc                                 | MONDELEZ INTERNATIONAL INC A COMMON STOCK                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     17397 | NS      | $1173253.68   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                             | MORGAN STANLEY COMMON STOCK USD.01                         | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     26584 | NS      | $3744622.24   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc                                     | MOTOROLA SOLUTIONS INC COMMON STOCK USD.01                 | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      3587 | NS      | $1508190.02   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                                | NETFLIX INC COMMON STOCK USD.001                           | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      2445 | NS      | $3274172.85   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                                         | NEXTERA ENERGY INC COMMON STOCK USD.01                     | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     34560 | NS      | $2399155.20   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp                                      | NORFOLK SOUTHERN CORP COMMON STOCK USD1.0                  | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |     19143 | NS      | $4900033.71   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp                                       | PARKER HANNIFIN CORP COMMON STOCK USD.5                    | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      3518 | NS      | $2457217.46   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc                            | PHILIP MORRIS INTERNATIONAL COMMON STOCK                   | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     43654 | NS      | $7950703.02   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                                    | PROCTER + GAMBLE CO/THE COMMON STOCK                       | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     29486 | NS      | $4697709.52   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                                       | PROGRESSIVE CORP COMMON STOCK USD1.0                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     12086 | NS      | $3225269.96   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                               | PROLOGIS INC REIT USD.01                                   | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     13282 | NS      | $1396203.84   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                             | PUBLIC STORAGE REIT USD.1                                  | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      5912 | NS      | $1734699.04   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                                               | QUALCOMM INC COMMON STOCK USD.0001                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     27065 | NS      | $4310371.90   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc                                      | QUEST DIAGNOSTICS INC COMMON STOCK USD.01                  | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      6474 | NS      | $1162924.62   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc                                      | RPM INTERNATIONAL INC COMMON STOCK USD.01                  | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     12500 | NS      | $1373000.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralliant Corp                                              | RALLIANT CORP COMMON STOCK USD.01                          | CUSIP: 750940108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14989 | NS      | $726816.61    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc                              | REGENERON PHARMACEUTICALS COMMON STOCK USD.001             | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      1451 | NS      | $761775.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services Inc                                      | REPUBLIC SERVICES INC COMMON STOCK USD.01                  | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     15368 | NS      | $3789902.48   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                              | REXFORD INDUSTRIAL REALTY IN REIT USD.01                   | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     46995 | NS      | $1671612.15   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc                                    | ROCKWELL AUTOMATION INC COMMON STOCK USD1.0                | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |     11277 | NS      | $3745881.09   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                                     | ROPER TECHNOLOGIES INC COMMON STOCK USD.01                 | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      1508 | NS      | $854794.72    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                                             | S+P GLOBAL INC COMMON STOCK USD1.0                         | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      3262 | NS      | $1720019.98   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                             | SALESFORCE INC COMMON STOCK USD.001                        | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     16009 | NS      | $4365494.21   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                                  | SANOFI ADR ADR                                             | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     28003 | NS      | $1352824.93   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                                            | SCHLUMBERGER LTD COMMON STOCK USD.01                       | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     69028 | NS      | $2333146.40   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The                                    | SCHWAB (CHARLES) CORP COMMON STOCK USD.01                  | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     89628 | NS      | $8177658.72   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                                     | SEMPRA COMMON STOCK                                        | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     40219 | NS      | $3047393.63   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                                 | SIEMENS AG SPONS ADR ADR                                   | CUSIP: 826197501<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     19969 | NS      | $2573405.03   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                                            | SOUTHERN CO/THE COMMON STOCK USD5.0                        | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     73948 | NS      | $6790644.84   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc                                 | STANLEY BLACK + DECKER INC COMMON STOCK USD2.5             | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     30524 | NS      | $2068001.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Institutional US Government Money Market Fund | STATE STREET INSTITUTIONAL US STATE ST INST US GOV MM PREM | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   1334942 | NS      | $1334942.41   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                                         | STEEL DYNAMICS INC COMMON STOCK USD.005                    | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     12420 | NS      | $1589884.20   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                                            | TJX COMPANIES INC COMMON STOCK USD1.0                      | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     15090 | NS      | $1863464.10   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                                            | T MOBILE US INC COMMON STOCK USD.0001                      | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     12094 | NS      | $2881516.44   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                  | TAIWAN SEMICONDUCTOR SP ADR ADR                            | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     12411 | NS      | $2810967.39   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc                                      | TEXAS INSTRUMENTS INC COMMON STOCK USD1.0                  | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     18111 | NS      | $3760205.82   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                               | THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0           | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      5412 | NS      | $2194349.52   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                           | TOTALENERGIES SE  SPON ADR ADR                             | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     29914 | NS      | $1836420.46   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc                                        | TRANSDIGM GROUP INC COMMON STOCK USD.01                    | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1233 | NS      | $1874949.12   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                                 | US BANCORP COMMON STOCK USD.01                             | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     59790 | NS      | $2705497.50   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                                     | UNITEDHEALTH GROUP INC COMMON STOCK USD.01                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      9552 | NS      | $2979937.44   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc                                 | VERTEX PHARMACEUTICALS INC COMMON STOCK USD.01             | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      2976 | NS      | $1324915.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                                | VIATRIS INC COMMON STOCK                                   | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    158594 | NS      | $1416244.42   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                                                | VISTRA CORP COMMON STOCK USD.01                            | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     23405 | NS      | $4536123.05   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                                        | VULCAN MATERIALS CO COMMON STOCK USD1.0                    | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      4426 | NS      | $1154389.32   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                                | WALMART INC COMMON STOCK USD.1                             | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     77708 | NS      | $7598288.24   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                                           | WELLS FARGO + CO COMMON STOCK USD1.666                     | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    134708 | NS      | $10792804.96  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                            | WEYERHAEUSER CO REIT USD1.25                               | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    110400 | NS      | $2836176.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The                                       | WILLIAMS COS INC COMMON STOCK USD1.0                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     42250 | NS      | $2653722.50   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                                            | XCEL ENERGY INC COMMON STOCK USD2.5                        | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     23868 | NS      | $1625410.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum  Brands Inc                                            | YUM  BRANDS INC COMMON STOCK                               | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |     14401 | NS      | $2133940.18   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                                 | ZIMMER BIOMET HOLDINGS INC COMMON STOCK USD.01             | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     41114 | NS      | $3750007.94   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                                              | ACCENTURE PLC CL A COMMON STOCK USD.0000225                | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     13277 | NS      | $3968362.53   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                                  | LINDE PLC COMMON STOCK                                     | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      7917 | NS      | $3714498.06   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC                                        | TE CONNECTIVITY PLC COMMON STOCK USD.01                    | CUSIP: G87052109<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |     13255 | NS      | $2235720.85   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                                     | TRANE TECHNOLOGIES PLC COMMON STOCK USD1.0                 | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      3856 | NS      | $1686652.96   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                                                  | CHUBB LTD COMMON STOCK                                     | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     32260 | NS      | $9346367.20   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President