# EDGAR Filing Document

**Accession Number:** 0001727074
**File Stem:** 0000940400-26-002832
**Filing Date:** 2026-1
**Character Count:** 54148
**Document Hash:** 4a759babcd0abffe8dc39007cff6fd9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-002832.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0000940400-26-002832

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251128

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23324
- **FILM NUMBER:** 26567164

**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 Municipal Income Opportunities ETF (Series ID: S000085147)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000250014 | PGIM Municipal Income Opportunities ETF | PMIO            |

## Nport-Ex

### PGIM Municipal Income Opportunities ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 94.7%** | **Long-Term Investments 94.7%** | **Long-Term Investments 94.7%** | **Long-Term Investments 94.7%** | **Long-Term Investments 94.7%** |
| **Municipal Bonds 91.6%** | **Municipal Bonds 91.6%** | **Municipal Bonds 91.6%** | **Municipal Bonds 91.6%** | **Municipal Bonds 91.6%** |
| **Alabama 5.6%** | **Alabama 5.6%** | **Alabama 5.6%** | **Alabama 5.6%** | **Alabama 5.6%** |
| Baldwin Cnty. Indl. Dev. Auth. Rev.,<br> Novelis Corp. Proj., Series A, AMT (Mandatory put date 06/01/32), 144A | 5.000 %(cc) | &nbsp;&nbsp;06/01/55 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; $255310 |
| Black Belt Energy Gas Dist. Rev.,<br> Gas Proj., Series D-1, Rfdg. (Mandatory put date 02/01/29) | 5.500(cc) | &nbsp;&nbsp;06/01/49 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059233 |
| Southeast Energy Auth. Cooperative Dist. Rev.,<br> Series D | 5.000 | &nbsp;&nbsp;09/01/35 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548200 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862743 |
| **Arkansas 1.7%** | **Arkansas 1.7%** | **Arkansas 1.7%** | **Arkansas 1.7%** | **Arkansas 1.7%** |
| Arkansas Dev. Fin. Auth. Rev.,<br> Weyerhaeuser Co. Proj., AMT (Mandatory put date 10/15/32) | 3.875(cc) | &nbsp;&nbsp;10/15/65 | &nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551645 |
| **Colorado 1.5%** | **Colorado 1.5%** | **Colorado 1.5%** | **Colorado 1.5%** | **Colorado 1.5%** |
| Baseline Metropolitan Dist. No. 1,<br> Series A, GO, Rfdg., AG | 4.250 | &nbsp;&nbsp;12/01/54 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484473 |
| **Connecticut 0.8%** | **Connecticut 0.8%** | **Connecticut 0.8%** | **Connecticut 0.8%** | **Connecticut 0.8%** |
| Connecticut St. Higher Ed. Supplement Loan Auth. Rev.,<br> Chesla Loan Prog., Series B-1, AMT | 5.250 | &nbsp;&nbsp;11/15/35 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277611 |
| **District of Columbia 4.5%** | **District of Columbia 4.5%** | **District of Columbia 4.5%** | **District of Columbia 4.5%** | **District of Columbia 4.5%** |
| Dist. of Columbia,<br> Series D, GO | 5.000 | &nbsp;&nbsp;06/01/41 | &nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978970 |
| Dist. of Columbia Rev.,<br> KIPP DC Issue, Series A, Rfdg. | 5.000 | &nbsp;&nbsp;07/01/26 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101041 |
| Metropolitan Washington D.C. Arpt. Auth. Sys. Rev.,<br> Series A, Rfdg., AMT | 5.000 | &nbsp;&nbsp;10/01/34 | &nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401686 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481697 |
| **Florida 7.1%** | **Florida 7.1%** | **Florida 7.1%** | **Florida 7.1%** | **Florida 7.1%** |
| Capital Tr. Agcy. Rev.,<br> Chrt. Sch. Port. Proj., Sub. Series B, CABS, 144A | 7.036(t) | &nbsp;&nbsp;07/01/61 | 6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554636 |
| Florida Dev. Fin. Corp. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GFL Solid Wst. Southeast LLC Proj., Series A, AMT (Mandatory put date 10/01/31), 144A | 4.375(cc) | &nbsp;&nbsp;10/01/54 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mater Academy Proj., Series A | 5.000 | &nbsp;&nbsp;06/15/29 | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122765 |
| &nbsp;&nbsp;&nbsp;&nbsp;River City Science Academy Proj., Series B, Rfdg. | 5.000 | &nbsp;&nbsp;07/01/31 | &nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303229 |
| Vlg. CDD No. 13,<br> 2021 Spl. Assmt., Phase III | 3.250 | &nbsp;&nbsp;05/01/52 | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883951 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369181 |
| **Georgia 1.3%** | **Georgia 1.3%** | **Georgia 1.3%** | **Georgia 1.3%** | **Georgia 1.3%** |
| Main Street Natural Gas, Inc. Rev.,<br> Series E (Mandatory put date 12/01/32) | 5.000(cc) | &nbsp;&nbsp;05/01/55 | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431618 |
| **Illinois 7.3%** | **Illinois 7.3%** | **Illinois 7.3%** | **Illinois 7.3%** | **Illinois 7.3%** |
| Chicago Board of Ed.,<br> Series B, Rfdg. | 5.250 | &nbsp;&nbsp;12/01/27 | &nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329745 |
| Chicago O'Hare Int'l. Arpt. Rev.,<br> Series C, Rfdg., AMT | 5.250 | &nbsp;&nbsp;01/01/41 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547102 |
| Illinois Fin. Auth. Rev.,<br> Midwestern Unvi. Foundation, Sr. Series A | 5.000 | &nbsp;&nbsp;07/01/29 | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184706 |

---

------

### PGIM Municipal Income Opportunities ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** |
| **Illinois (cont'd.)** | **Illinois (cont'd.)** | **Illinois (cont'd.)** | **Illinois (cont'd.)** | **Illinois (cont'd.)** |
| Illinois St. Toll Hwy. Auth. Rev.,<br> Toll Hwy., Sr. Rev., Series B | 5.000% | &nbsp;&nbsp;01/01/45 | 1000 | &nbsp;&nbsp; $1032712 |
| State of Illinois Sales Tax. Rev.,<br> Jr. Series B(hh) | 5.000 | &nbsp;&nbsp;06/15/40 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327536 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2421801 |
| **Iowa 0.6%** | **Iowa 0.6%** | **Iowa 0.6%** | **Iowa 0.6%** | **Iowa 0.6%** |
| Lowa Student Loan Liquidity Corp. Rev.,<br> Sr. Series B, AMT | 5.000 | &nbsp;&nbsp;12/01/35 | &nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195220 |
| **Kentucky 4.8%** | **Kentucky 4.8%** | **Kentucky 4.8%** | **Kentucky 4.8%** | **Kentucky 4.8%** |
| Kentucky Pub. Energy Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A-1, Rfdg. (Mandatory put date 02/01/32) | 5.250(cc) | &nbsp;&nbsp;04/01/54 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1083345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B | 5.000 | &nbsp;&nbsp;12/01/33 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522344 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605689 |
| **Louisiana 1.5%** | **Louisiana 1.5%** | **Louisiana 1.5%** | **Louisiana 1.5%** | **Louisiana 1.5%** |
| Parish of St. James Rev.,<br> Nustar Logistics L.P Proj., Rmkt. (Mandatory put date 06/01/30) | 3.700(cc) | &nbsp;&nbsp;08/01/41 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499311 |
| **Michigan 2.9%** | **Michigan 2.9%** | **Michigan 2.9%** | **Michigan 2.9%** | **Michigan 2.9%** |
| Michigan Fin. Auth. Rev.,<br> Bronson Healthcare Grp., Series B, Rmkt. (Mandatory put date 11/16/26) | 5.000(cc) | &nbsp;&nbsp;11/15/44 | &nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232006 |
| Michigan St. Hosp. Fin. Auth. Rev.,<br> Corewell Hlth., Series B-2, Rfdg. (Mandatory put date 06/01/35) | 5.000(cc) | &nbsp;&nbsp;08/15/55 | &nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379063 |
| Wayne County Arpt Auth. Rev.,<br> Detroit Metropolitan Wayne, Series B, AMT | 5.000 | &nbsp;&nbsp;12/01/34 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334571 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945640 |
| **New Hampshire 10.6%** | **New Hampshire 10.6%** | **New Hampshire 10.6%** | **New Hampshire 10.6%** | **New Hampshire 10.6%** |
| National Fin. Auth. Rev.,<br> Sustainable Cert., Series 1-A, NFA Muni. Cert., ARC70 (Mandatory put date 10/01/34) | 4.150(cc) | &nbsp;&nbsp;10/20/40 | &nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898193 |
| New Hampshire Bus. Fin. Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Caldwell Ranch Proj., 144A | 4.875 | &nbsp;&nbsp;12/01/33 | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400058 |
| &nbsp;&nbsp;&nbsp;&nbsp;Muni. CTFS, Sustainable CTFS, Series 2025-2, Class A-1 | 4.217(cc) | &nbsp;&nbsp;11/20/42 | &nbsp;&nbsp;&nbsp;997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976330 |
| &nbsp;&nbsp;&nbsp;&nbsp;Silverado Proj., 144A | 5.000 | &nbsp;&nbsp;12/01/28 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sustainable Bonds, Muni. CTFS, Series 2025-1, Class A-1 | 4.167(cc) | &nbsp;&nbsp;01/20/41 | &nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981181 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3505911 |
| **New Jersey 2.1%** | **New Jersey 2.1%** | **New Jersey 2.1%** | **New Jersey 2.1%** | **New Jersey 2.1%** |
| New Jersey Higher Ed. Student Assistance Auth. Rev.,<br> Sr. Series 1A, Rfdg., AMT | 5.000 | &nbsp;&nbsp;12/01/32 | &nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205103 |
| Tob. Settlement Fing. Corp. Rev.,<br> Series A, Rfdg. | 5.000 | &nbsp;&nbsp;06/01/29 | &nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505364 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710467 |
| **New York 4.0%** | **New York 4.0%** | **New York 4.0%** | **New York 4.0%** | **New York 4.0%** |
| New York City Hsg. Dev. Corp. Rev.,<br> 8 Spruce Street Proj., Class E, Rfdg. | 4.375 | &nbsp;&nbsp;12/15/43 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256581 |
| New York Liberty Dev. Corp. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Tower at One Bryant Park Proj., Class 2, Rfdg. | 2.625 | &nbsp;&nbsp;09/15/69 | &nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97375 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Tower at One Bryant Park Proj., Rfdg. | 2.450 | &nbsp;&nbsp;09/15/69 | 1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976083 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330039 |

---

------

### PGIM Municipal Income Opportunities ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** |
| **Oklahoma 3.0%** | **Oklahoma 3.0%** | **Oklahoma 3.0%** | **Oklahoma 3.0%** | **Oklahoma 3.0%** |
| Oklahoma Tpke. Auth. Rev.,<br> Series A | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;01/01/42 | 1000 | &nbsp;&nbsp; $1001768 |
| **Oregon 2.0%** | **Oregon 2.0%** | **Oregon 2.0%** | **Oregon 2.0%** | **Oregon 2.0%** |
| Port of Portland Arpt. Rev.,<br> Series 24B, AMT | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;07/01/37 | &nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657940 |
| **Pennsylvania 3.1%** | **Pennsylvania 3.1%** | **Pennsylvania 3.1%** | **Pennsylvania 3.1%** | **Pennsylvania 3.1%** |
| Pennsylvania Econ. Dev. Fing. Auth. Rev.,<br> Wste. Mgmt., Inc. Proj., Series A, AMT, Rmkt. (Mandatory put date 08/03/26) | &nbsp;&nbsp;3.875(cc) | &nbsp;&nbsp;08/01/37 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500708 |
| Pennsylvania Higher Ed. Assistance Agcy. Rev.,<br> Sr. Series 1-A, AMT | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;06/01/34 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215320 |
| Pennsylvania Higher Edu. Assistance Agcy. Rev.,<br> Sr. Series 1A, AMT | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;06/01/32 | &nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314614 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030642 |
| **Puerto Rico 1.1%** | **Puerto Rico 1.1%** | **Puerto Rico 1.1%** | **Puerto Rico 1.1%** | **Puerto Rico 1.1%** |
| Puerto Rico Ind. Tourist Edl. Med. & Envirml. Ctl. Facs. Fing. Auth. Rev.,<br> Hosp. Auxilio Mutuo Oblig. Grp. Proj., Rfdg. | &nbsp;&nbsp;4.000 | &nbsp;&nbsp;07/01/40 | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376429 |
| **Texas 3.8%** | **Texas 3.8%** | **Texas 3.8%** | **Texas 3.8%** | **Texas 3.8%** |
| City of Houston Arpt. Sys. Rev.,<br> United Airlines, Inc. Term. Impvt. Proj., Series B, Rfdg., AMT(hh) | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;07/15/28 | &nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320655 |
| New Hope Cultrl. Ed. Facs. Fin. Corp. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cardinal Bay Inc., Vlg. on the Park Carriage Inn Proj., Series A-1 | &nbsp;&nbsp;4.000 | &nbsp;&nbsp;07/01/26 | &nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173058 |
| &nbsp;&nbsp;&nbsp;&nbsp;Txbl. Sr. Sanctuary LTC Proj., Series A-2 | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;01/01/31 | &nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418305 |
| Tarrant Cnty. Cultrl. Ed. Facs. Fin. Corp. Rev.,<br> Ascension Sr. Credit Grp., Series C-2, Rfdg. (Mandatory put date 11/15/35)(hh) | &nbsp;&nbsp;5.000(cc) | &nbsp;&nbsp;11/15/51 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341092 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253110 |
| **Utah 3.1%** | **Utah 3.1%** | **Utah 3.1%** | **Utah 3.1%** | **Utah 3.1%** |
| Utah Cnty. Rev.,<br> IHC Hlth. Svcs., Inc., Series A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;05/15/43 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043191 |
| **Washington 0.5%** | **Washington 0.5%** | **Washington 0.5%** | **Washington 0.5%** | **Washington 0.5%** |
| Washington St. Hsg. Fin. Commn. Rev.,<br> Horizon Hse. Proj. Mand. Paydown Temps-50, Series B-3, Rfdg.(hh) | &nbsp;&nbsp;4.375 | &nbsp;&nbsp;01/01/33 | &nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161814 |
| **Wisconsin 18.7%** | **Wisconsin 18.7%** | **Wisconsin 18.7%** | **Wisconsin 18.7%** | **Wisconsin 18.7%** |
| Pub. Fin. Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Aurora Integrated Oncology Fndtn., Series A, 144A | 10.000 | &nbsp;&nbsp;11/01/38 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122494 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cuyahoga River Cap. Port., Class A, Series 1 (Mandatory put date 07/01/28), 144A | &nbsp;&nbsp;4.000(cc) | &nbsp;&nbsp;01/01/55 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033467 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ku Campus Dev. Corp. Proj. | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;03/01/46 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001258 |
| &nbsp;&nbsp;&nbsp;&nbsp;Million Air Three LLC Gen. Avtn. Facs. Proj., Series A, Rfdg. AMT, 144A | &nbsp;&nbsp;5.500 | &nbsp;&nbsp;09/01/30 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312702 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rans Elevon Proj., 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;07/15/30 | &nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A, Cert. (Mandatory put date 08/01/27), 144A | &nbsp;&nbsp;4.750(cc) | &nbsp;&nbsp;08/01/59 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Signorelli Proj., 144A | &nbsp;&nbsp;5.375 | &nbsp;&nbsp;12/15/32 | &nbsp;&nbsp;&nbsp;774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768721 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Meadows Proj., 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;12/15/33 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001377 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6214514 |
| **Total Municipal Bonds<br> (cost $30,172,689)** | **Total Municipal Bonds<br> (cost $30,172,689)** | **Total Municipal Bonds<br> (cost $30,172,689)** | **Total Municipal Bonds<br> (cost $30,172,689)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30412454 |

---

------

### PGIM Municipal Income Opportunities ETF

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

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Unaffiliated Exchange-Traded Fund 3.1%** | **Unaffiliated Exchange-Traded Fund 3.1%** | **Unaffiliated Exchange-Traded Fund 3.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares National Muni Bond ETF<br> (cost $1,015,292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9670 | &nbsp;&nbsp; $1038848 |
| **Total Long-Term Investments<br> (cost $31,187,981)** | **Total Long-Term Investments<br> (cost $31,187,981)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31451302 |
| **Short-Term Investments 6.9%** | **Short-Term Investments 6.9%** | **Short-Term Investments 6.9%** |
| **Affiliated Mutual Fund 6.6%** | **Affiliated Mutual Fund 6.6%** | **Affiliated Mutual Fund 6.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Core Government Money Market Fund (7-day effective yield 4.111%)<br> (cost $2,189,486)(wb) | &nbsp;&nbsp;2189486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2189486 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** |  |
| **Municipal Bond 0.3%** | **Municipal Bond 0.3%** | **Municipal Bond 0.3%** | **Municipal Bond 0.3%** | **Municipal Bond 0.3%** | **Municipal Bond 0.3%** |
| **Texas** | **Texas** | **Texas** | **Texas** | **Texas** | **Texas** |
| New Hope Cultural Ed. Facs. Fin. Corp. Rev.,<br> Brazos Presbyterian Homes Proj.,Rfdg.<br> (cost $110,094) | 5.000% | &nbsp;&nbsp;01/01/26 |  | &nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110141 |
| **Total Short-Term Investments<br> (cost $2,299,580)** | **Total Short-Term Investments<br> (cost $2,299,580)** | **Total Short-Term Investments<br> (cost $2,299,580)** | **Total Short-Term Investments<br> (cost $2,299,580)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2299627 |
| **TOTAL INVESTMENTS 101.6%<br> (cost $33,487,561)** | **TOTAL INVESTMENTS 101.6%<br> (cost $33,487,561)** | **TOTAL INVESTMENTS 101.6%<br> (cost $33,487,561)** | **TOTAL INVESTMENTS 101.6%<br> (cost $33,487,561)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33750929 |
| Liabilities in excess of other assets(z) (1.6)% | Liabilities in excess of other assets(z) (1.6)% | Liabilities in excess of other assets(z) (1.6)% | Liabilities in excess of other assets(z) (1.6)% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(532852) |
| **Net Assets 100.0%** | **Net Assets 100.0%** | **Net Assets 100.0%** | **Net Assets 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33218077 |

---

------

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. |
| AMT—Alternative Minimum Tax |
| CABS—Capital Appreciation Bonds |
| CDD—Community Development District |
| ETF—Exchange-Traded Fund |
| GO—General Obligation |
| RANS—Revenue Anticipation Notes |
| Rfdg—Refunding |

---

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

(cc) Variable rate instrument. The rate shown is based on the latest available information as of November 30, 2025. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.

(hh) When-issued security.

(t) Represents zero coupon. Rate quoted represents effective yield at November 30, 2025.

(wb) Represents an investment in a Fund affiliated with the Manager.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at November 30, 2025:** | **Futures contracts outstanding at November 30, 2025:** | **Futures contracts outstanding at November 30, 2025:** | **Futures contracts outstanding at November 30, 2025:** | **Futures contracts outstanding at November 30, 2025:** |
| **Number<br> of<br> Contracts** | **Type** | **Expiration<br> Date** | **Current<br> Notional<br> Amount** | **Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Short Position:** | **Short Position:** | **Short Position:** | **Short Position:** | **Short Position:** |
| 1 | 20 Year U.S. Treasury Bonds | Mar. 2026 | $117438 | $(916) |

---

*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 Municipal Income Opportunities ETF

- **b. EDGAR series identifier (if any):** S000085147

- **c. LEI of Series:** 529900XTSHLNSZDVD603

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-28

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $34884918.38

**Total Liabilities:** $1665582.66

**Net Assets:** $33219335.72

**Delayed Delivery Securities:** $1659192.20

**Cash Not Reported:** $167000.04

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 34.60429000 | **1-Year:** 1721.97864000 | **5-Year:** 4779.88051000 | **10-Year:** 8613.07613000 | **30-Year:** 1148.99187000

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

- **3-Month:** 1.04634000 | **1-Year:** 155.98784000 | **5-Year:** 641.74726000 | **10-Year:** 26.01700000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250014 | 1.95%                | 0.88%                | 0.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $17347.82                | $399513.22                                 |
| Month 2  | $18.14                   | $141461.87                                 |
| Month 3  | $1961.28                 | $-21986.90                                 |

**Designated Index Information**

- **Index Name:** PGIM Municipal Income Opportunities ETF_Ex Derivatives BM

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                             | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.      | US LONG BOND(CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -1 | NC      | $-915.51      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ARKANSAS ST DEV FIN AUTH RESOU                   | Arkansas Development Finance Authority                                          | CUSIP: 04084EAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $551644.86    | 1.66%             | 2065-10-15      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                       | Public Finance Authority                                                        | CUSIP: 74442PD51<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    469855 | PA      | $473379.38    | 1.43%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BASELINE MET DIST #1 CO SPL RE                   | Baseline Metropolitan District No 1                                             | CUSIP: 069826AX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $484472.73    | 1.46%             | 2054-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL                    | Black Belt Energy Gas District                                                  | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059232.86   | 3.19%             | 2049-06-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT REVEN                   | Port of Portland OR Airport Revenue                                             | CUSIP: 735240M75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $657940.37    | 1.98%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                   | Main Street Natural Gas Inc                                                     | CUSIP: 56035DJJ2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    400000 | PA      | $431618.23    | 1.30%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST STUDENT LOAN LIQUIDITY                   | Iowa Student Loan Liquidity Corp                                                | CUSIP: 462590PT1<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    180000 | PA      | $195219.47    | 0.59%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP                    | New York City Housing Development Corp                                          | CUSIP: 64966TGW8<br>LEI: 549300SQWVHKBRF8D702 | Long             | ABS-MBS          | MUN               | US        |    250000 | PA      | $256581.08    | 0.77%             | 2031-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L                   | New York Liberty Development Corp                                               | CUSIP: 649519DF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $976082.87    | 2.94%             | 2069-09-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                   | Florida Development Finance Corp                                                | CUSIP: 34061UFT0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    120000 | PA      | $122765.39    | 0.37%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE                      | City of Houston TX Airport System Revenue                                       | CUSIP: 442349JZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $320655.09    | 0.97%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                         | District of Columbia                                                            | CUSIP: 25483VTA2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101041.52    | 0.30%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN                   | New Hope Cultural Education Facilities Finance Corp                             | CUSIP: 64542PAS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $173057.73    | 0.52%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                   | Tarrant County Cultural Education Facilities Finance Corp                       | CUSIP: 87638TJX2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    300000 | PA      | $341092.41    | 1.03%             | 2051-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                     | Capital Trust Agency Inc                                                        | CUSIP: 14052WDR5<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $554635.83    | 1.67%             | 2061-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                       | Public Finance Authority                                                        | CUSIP: 74442PR64<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033466.49   | 3.11%             | 2055-01-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                   | New Hampshire Business Finance Authority                                        | CUSIP: 63608TAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400057.98    | 1.20%             | 2033-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                   | Washington State Housing Finance Commission                                     | CUSIP: 939783Z82<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    165000 | PA      | $161813.84    | 0.49%             | 2033-01-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH AFFORDABL                   | New Hampshire Business Finance Authority                                        | CUSIP: 63607DAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    905372 | PA      | $898193.04    | 2.70%             | 2040-10-20      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS                   | New Hampshire Business Finance Authority                                        | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |    994233 | PA      | $981181.31    | 2.95%             | 2041-01-20      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL REVENUE                   | Public Finance Authority                                                        | CUSIP: 74447TAG7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001377.33   | 3.01%             | 2033-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HGR EDU ASSISTAN                   | New Jersey Higher Education Student Assistance Authority                        | CUSIP: 646080YJ4<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    190000 | PA      | $205102.76    | 0.62%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH CNTY UT HOSP REVENUE                        | County of Utah UT                                                               | CUSIP: 917393DB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043191.22   | 3.14%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                       | Public Finance Authority                                                        | CUSIP: 74442PB61<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1122494.35   | 3.38%             | 2038-11-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N                   | Tobacco Settlement Financing Corp                                               | CUSIP: 888808HE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $505364.36    | 1.52%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TAX EXEMPT                    | Public Finance Authority                                                        | CUSIP: 74448SAA1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501115.91    | 1.51%             | 2059-08-01      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST SALES TAX REVENUE                    | State of Illinois Sales Tax Revenue                                             | CUSIP: 452227WG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $327535.79    | 0.99%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL FAC REV                   | Public Finance Authority                                                        | CUSIP: 74446DAK4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $312701.45    | 0.94%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HGR EDU ASSISTANC                   | Pennsylvania Higher Education Assistance Agency                                 | CUSIP: 70878CBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $215319.35    | 0.65%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST TURNPIKE AUTH                        | Oklahoma Turnpike Authority                                                     | CUSIP: 679111WS9<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001767.81   | 3.02%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                   | New Hampshire Business Finance Authority                                        | CUSIP: 63608TAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250148.58    | 0.75%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                            | Chicago Board of Education                                                      | CUSIP: 167505ZN9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    325000 | PA      | $329744.60    | 0.99%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                   | Kentucky Public Energy Authority                                                | CUSIP: 74440DFQ2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522343.52    | 1.57%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA                                 | District of Columbia                                                            | CUSIP: 25476FTB4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    965000 | PA      | $978969.65    | 2.95%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VLG FL CDD #13 SPL ASSMNT REVE                   | Village Community Development District No 13                                    | CUSIP: 92708HAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $883951.26    | 2.66%             | 2052-05-01      | Fixed         | 3.25%                 | 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        |   2185189 | NS      | $2185189.35   | 6.58%             |  |  |  | No            |                  1 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT                   | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth | CUSIP: 74527EFW3<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    400000 | PA      | $376428.41    | 1.13%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                     | Illinois Finance Authority                                                      | CUSIP: 45204FJ71<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    175000 | PA      | $184706.51    | 0.56%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                    | New Hope Cultural Education Facilities Finance Corp                             | CUSIP: 64542UHP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110141.40    | 0.33%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HOSP FIN AUTH                        | Michigan State Hospital Finance Authority                                       | CUSIP: 59465HXF8<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    335000 | PA      | $379062.58    | 1.14%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HGR EDU SUPPLEM                   | Connecticut State Higher Education Supplement Loan Authority                    | CUSIP: 207743YJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $277610.82    | 0.84%             | 2035-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                    | Pennsylvania Economic Development Financing Authority                           | CUSIP: 708692BJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500708.27    | 1.51%             | 2037-08-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                   | Florida Development Finance Corp                                                | CUSIP: 34061UJR0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    290000 | PA      | $303228.71    | 0.91%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL REVENUE                   | Public Finance Authority                                                        | CUSIP: 74447TAF9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    774000 | PA      | $768721.15    | 2.31%             | 2032-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN                   | New Hope Cultural Education Facilities Finance Corp                             | CUSIP: 64542PGD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $418304.72    | 1.26%             | 2031-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SAINT JAMES PARISH LA REVENUE                    | Parish of St James LA                                                           | CUSIP: 790103AZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499310.84    | 1.50%             | 2041-08-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A                   | Metropolitan Washington Airports Authority Aviation Revenue                     | CUSIP: 592647MS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $401685.59    | 1.21%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS                   | New Hampshire Business Finance Authority                                        | CUSIP: 63607WBN3<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |    997478 | PA      | $976330.35    | 2.94%             | 2042-11-20      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH                    | Illinois State Toll Highway Authority                                           | CUSIP: 452252PQ6<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032712.02   | 3.11%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SOL WS                   | Florida Development Finance Corp                                                | CUSIP: 34061XAG7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504600.14    | 1.52%             | 2054-10-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HGR EDU ASSISTANC                   | Pennsylvania Higher Education Assistance Agency                                 | CUSIP: 70878CBP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $314613.93    | 0.95%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                   | Kentucky Public Energy Authority                                                | CUSIP: 74440DEC4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1083345.41   | 3.26%             | 2054-04-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA                   | Chicago O'Hare International Airport                                            | CUSIP: 1675935Z1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547102.47    | 1.65%             | 2041-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE                     | Michigan Finance Authority                                                      | CUSIP: 59447T4A8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    230000 | PA      | $232006.31    | 0.70%             | 2044-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BALDWIN CNTY AL INDL DEV AUTH                    | Baldwin County Industrial Development Authority                                 | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255309.85    | 0.77%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L                   | New York Liberty Development Corp                                               | CUSIP: 649519DG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $97375.44     | 0.29%             | 2069-09-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| iShares National Muni Bond ETF                   | iShares National Muni Bond ETF                                                  | CUSIP: 464288414<br>LEI: 549300H21FUYFQW9N157 | Long             | EC               | RF                | US        |      9670 | NS      | $1038848.10   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYNE CNTY MI ARPT AUTH REVENU                   | Wayne County Airport Authority                                                  | CUSIP: 944514T40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $334571.48    | 1.01%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI LEASE DEV R                   | Public Finance Authority                                                        | CUSIP: 74444YAW4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001258.16   | 3.01%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C                   | Southeast Energy Authority A Cooperative District                               | CUSIP: 84136HCP6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $548200.42    | 1.65%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-27

**Name of Applicant:** PGIM ETF Trust

**Signature:** Christian J. Kelly

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

**Title:** Chief Financial Officer