# EDGAR Filing Document

**Accession Number:** 0001727074
**File Stem:** 0001752724-25-182022
**Filing Date:** 2025-7
**Character Count:** 73084
**Document Hash:** 4549acb22f2408f47617f3fbedd9cf7f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182022.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182022

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23324
- **FILM NUMBER:** 251159600

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

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

## Series and Classes Contracts Data

### PGIM Ultra Short Municipal Bond ETF (Series ID: S000085146)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000250013 | PGIM Ultra Short Municipal Bond ETF | PUSH            |

## Nport-Ex

### PGIM Ultra Short Municipal Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 102.0%** | **Long-Term Investments 102.0%** | **Long-Term Investments 102.0%** | **Long-Term Investments 102.0%** | **Long-Term Investments 102.0%** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Alabama 1.2%** | **Alabama 1.2%** | **Alabama 1.2%** | **Alabama 1.2%** | **Alabama 1.2%** |
| Black Belt Energy Gas Dist. Rev.,<br> Proj. No. 5, Series A-1, (Mandatory put date 10/01/26) | 4.000 %(cc) | &nbsp;&nbsp;10/01/49 | &nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp; $135336 |
| Southeast Energy Auth. A Cooperative District Rev.,<br> Series A | 5.000 | &nbsp;&nbsp;11/01/25 | &nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220731 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356067 |
| **Arizona 3.7%** | **Arizona 3.7%** | **Arizona 3.7%** | **Arizona 3.7%** | **Arizona 3.7%** |
| Arizona Indl. Dev. Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Ironwood Ranch Apts. Proj. (Mandatory put date 09/01/26) | 5.000(cc) | &nbsp;&nbsp;02/01/58 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019287 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Ranches at Gunsmoke Proj. (Mandatory put date 11/01/26) | 5.000(cc) | &nbsp;&nbsp;03/01/58 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102179 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121466 |
| **California 11.9%** | **California 11.9%** | **California 11.9%** | **California 11.9%** | **California 11.9%** |
| California Cnty. Tobacco Securitization Agcy. Rev.,<br> Sonoma Cnty. Securitization Corp., Series A, Rfdg. | 5.000 | &nbsp;&nbsp;06/01/27 | &nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334489 |
| California Infrast. & Econ. Dev. Bank Rev.,<br> Colburn Sch., Rfdg. (Mandatory put date 08/01/26) | 1.750(cc) | &nbsp;&nbsp;08/01/55 | &nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858613 |
| California St.,<br> CM Veterans Bond, GO, Rfdg., AMT | 3.150 | &nbsp;&nbsp;12/01/26 | &nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767138 |
| City of Los Angeles Dept. of Arpt. Rev.,<br> Series B, Rfdg., AMT | 5.000 | &nbsp;&nbsp;05/15/27 | &nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339308 |
| Los Angeles Dept. of Wtr. & Pwr. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;LA Dept. of Wtr. & Pwr. Sys., Series C | 4.000 | &nbsp;&nbsp;07/01/26 | &nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476170 |
| &nbsp;&nbsp;&nbsp;&nbsp;LA Dept. of Wtr. & Pwr. Sys., Series C | 5.000 | &nbsp;&nbsp;07/01/26 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, Rfdg. | 5.000 | &nbsp;&nbsp;07/01/28 | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180922 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series D, Rfdg. | 5.000 | &nbsp;&nbsp;07/01/26 | &nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431851 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3590997 |
| **Colorado 4.9%** | **Colorado 4.9%** | **Colorado 4.9%** | **Colorado 4.9%** | **Colorado 4.9%** |
| Colorado Hlth. Facs. Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adventist Hlth. Sys., Sunbelt Oblig. Grp., Series B (Mandatory put date 11/20/25) | 5.000(cc) | &nbsp;&nbsp;11/15/48 | &nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292085 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commonspirit Hlth., Series A-1, Rfdg. | 5.000 | &nbsp;&nbsp;08/01/26 | &nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commonspirit Hlth., Series B-1, Rfdg. (Mandatory put date 08/01/25) | 5.000(cc) | &nbsp;&nbsp;08/01/49 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100005 |

---

------

### PGIM Ultra Short Municipal Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** |
| **Colorado (cont'd.)** | **Colorado (cont'd.)** | **Colorado (cont'd.)** | **Colorado (cont'd.)** | **Colorado (cont'd.)** |
| Colorado Hlth. Facs. Auth. Rev., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Covenant Living Communities and Svcs., Rfdg. | 5.000% | &nbsp;&nbsp;12/01/27 | 245 | &nbsp;&nbsp; $254470 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intermountain Healthcare, Series B, Rfdg. (Mandatory put date 08/17/26) | 5.000(cc) | &nbsp;&nbsp;05/15/62 | 175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178464 |
| &nbsp;&nbsp;&nbsp;&nbsp;SCL Hlth. Sys., Series A, Rfdg. | 5.000 | &nbsp;&nbsp;01/01/26 | 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126445 |
| University of Colorado Rev.,<br> University Enterprise Rev., Green Bond Proj., Series C-3B, Rfdg. (Mandatory Put Date 10/15/26) | 2.000(cc) | &nbsp;&nbsp;06/01/51 | 260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254018 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470143 |
| **Florida 0.8%** | **Florida 0.8%** | **Florida 0.8%** | **Florida 0.8%** | **Florida 0.8%** |
| Orange Cnty. Hlth. Facs. Auth. Rev.,<br> Adventhealth Oblig. Grp., Series C, Rfdg. (Mandatory put date 11/15/26) | 5.000(cc) | &nbsp;&nbsp;11/15/52 | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255044 |
| **Georgia 2.6%** | **Georgia 2.6%** | **Georgia 2.6%** | **Georgia 2.6%** | **Georgia 2.6%** |
| Atlanta Urban Residential Fin. Auth. Rev.,<br> GE Tower Apts., Series B (Mandatory put date 06/01/25) | 5.750(cc) | &nbsp;&nbsp;06/01/27 | 280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 |
| Columbus Medical Ctr. Hosp. Auth. Rev.,<br> Piedmont Healthcare Proj., Inc., Series A, Rfdg. (Mandatory put date 07/01/26) | 5.000(cc) | &nbsp;&nbsp;07/01/54 | 155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156595 |
| Main Street Natural Gas, Inc. Rev.,<br> Series A (Mandatory put date 09/01/27) | 4.000(cc) | &nbsp;&nbsp;07/01/52 | 335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336138 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772733 |
| **Illinois 11.5%** | **Illinois 11.5%** | **Illinois 11.5%** | **Illinois 11.5%** | **Illinois 11.5%** |
| Illinois Fin. Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mercy Hlth. Sys. Oblig. Grp., Rfdg. | 5.000 | &nbsp;&nbsp;12/01/26 | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253703 |
| &nbsp;&nbsp;&nbsp;&nbsp;OSF Healthcare Sys., Series B-2, Rfdg. (Mandatory put date 11/15/26) | 5.000(cc) | &nbsp;&nbsp;05/15/50 | 435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441070 |
| &nbsp;&nbsp;&nbsp;&nbsp;Westminster Vlg., Series A, Rfdg. | 4.500 | &nbsp;&nbsp;05/01/28 | 765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750547 |
| Illinois St., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GO | 5.000 | &nbsp;&nbsp;06/01/26 | 215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218650 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, GO | 5.000 | &nbsp;&nbsp;12/01/27 | 140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145773 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series D, GO, Rfdg. | 5.000 | &nbsp;&nbsp;07/01/27 | 330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341481 |

---

------

### PGIM Ultra Short Municipal Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **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. Rev.,<br> Jr. Oblig., Series A | 4.000% | &nbsp;&nbsp;06/15/27 | &nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; $314172 |
| Illinois St. Toll Hwy. Auth. Rev.,<br> Series A | 5.000 | &nbsp;&nbsp;01/01/40 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000116 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3465512 |
| **Indiana 2.8%** | **Indiana 2.8%** | **Indiana 2.8%** | **Indiana 2.8%** | **Indiana 2.8%** |
| Indiana Fin. Auth. Rev.,<br> Indiana Univ. Hlth. Oblig. Grp., Series B (Mandatory put date 07/01/25) | 2.250(cc) | &nbsp;&nbsp;12/01/58 | &nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858645 |
| **Kentucky 3.4%** | **Kentucky 3.4%** | **Kentucky 3.4%** | **Kentucky 3.4%** | **Kentucky 3.4%** |
| Kentucky Pub. Energy Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gas Sply., Series C-1 (Mandatory put date 06/01/25) | 4.000(cc) | &nbsp;&nbsp;12/01/49 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A-1 (Mandatory put date 06/01/25) | 4.000(cc) | &nbsp;&nbsp;12/01/49 | &nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series C (Mandatory put date 02/01/28) | 4.000(cc) | &nbsp;&nbsp;02/01/50 | &nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280658 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015658 |
| **Maryland 1.2%** | **Maryland 1.2%** | **Maryland 1.2%** | **Maryland 1.2%** | **Maryland 1.2%** |
| Montgomery Cnty. Hsg. Opportunities Commn. Rev.,<br> Series B, AMT | 3.125 | &nbsp;&nbsp;07/01/28 | &nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373977 |
| **Massachusetts 3.4%** | **Massachusetts 3.4%** | **Massachusetts 3.4%** | **Massachusetts 3.4%** | **Massachusetts 3.4%** |
| Massachusetts Dev. Fin. Agcy. Rev.,<br> Dexter Southfield., Rfdg. | 5.000 | &nbsp;&nbsp;05/01/30 | 1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035719 |
| **Michigan 2.9%** | **Michigan 2.9%** | **Michigan 2.9%** | **Michigan 2.9%** | **Michigan 2.9%** |
| Michigan Fin. Auth. Rev.,<br> Sr. Series A, Class 1, Rfdg. | 5.000 | &nbsp;&nbsp;06/01/26 | &nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385069 |
| Michigan Strategic Fd. Rev.,<br> Sustainable Bond, Recycled Board Machine Proj., AMT (Mandatory put date 10/01/26) | 4.000(cc) | &nbsp;&nbsp;10/01/61 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497382 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882451 |
| **Minnesota 0.7%** | **Minnesota 0.7%** | **Minnesota 0.7%** | **Minnesota 0.7%** | **Minnesota 0.7%** |
| Minnesota Rural Wtr. Fin. Auth., Inc. Rev.,<br> Rfdg., BANS | 3.300 | &nbsp;&nbsp;08/01/26 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200082 |

---

------

### PGIM Ultra Short Municipal Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** |
| **Missouri 2.0%** | **Missouri 2.0%** | **Missouri 2.0%** | **Missouri 2.0%** | **Missouri 2.0%** |
| Missouri Joint Muni. Elec. Util. Commn. Rev.,<br> Iatan 2 Proj., Series A, Rfdg. | 5.000% | &nbsp;&nbsp;12/01/35 | &nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; $600000 |
| **Nevada 3.4%** | **Nevada 3.4%** | **Nevada 3.4%** | **Nevada 3.4%** | **Nevada 3.4%** |
| Clark Cnty. Dept. Avtn. Rev.,<br> Sub. Series B, AMT, Rfdg. | 5.000 | &nbsp;&nbsp;07/01/27 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515671 |
| State of Nevada Dept. of Bus. & Indl. Rev.,<br> Republic SVCS Proj., Series 2001, 144A, AMT (Mandatory put date 12/01/25) | 4.125(cc) | &nbsp;&nbsp;12/01/26 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499935 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015606 |
| **New Hampshire 0.8%** | **New Hampshire 0.8%** | **New Hampshire 0.8%** | **New Hampshire 0.8%** | **New Hampshire 0.8%** |
| New Hampshire Bus. Fin. Auth. Rev.,<br> 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;247437 |
| **New Jersey 1.7%** | **New Jersey 1.7%** | **New Jersey 1.7%** | **New Jersey 1.7%** | **New Jersey 1.7%** |
| Tobacco Settlement Fin. Corp. Rev.,<br> Series A, Rfdg. | 5.000 | &nbsp;&nbsp;06/01/28 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517581 |
| **New York 5.6%** | **New York 5.6%** | **New York 5.6%** | **New York 5.6%** | **New York 5.6%** |
| Dutchess Cnty. Loc. Dev. Corp. Rev.,<br> Health Quest Sys. Proj., Inc., Series B | 5.000 | &nbsp;&nbsp;07/01/26 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203071 |
| Metropolitan Transp. Auth. Rev.,<br> Series C-1, Rfdg. | 5.000 | &nbsp;&nbsp;11/15/27 | &nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173655 |
| New York City Hsg. Dev. Corp. Rev.,<br> Sustainable Dev. Bonds, Series F-2A (Mandatory put date 12/22/26) | 3.400(cc) | &nbsp;&nbsp;11/01/62 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199654 |
| New York Convention Ctr. Dev. Corp. Rev.,<br> Hotel Unit Fee Sec'd., Rfdg. | 5.000 | &nbsp;&nbsp;11/15/40 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000148 |
| New York St. Hsg. Fin. Agcy. Rev.,<br> Sustainable Bonds, Series B-2 (Mandatory put date 05/01/27) | 3.600(cc) | &nbsp;&nbsp;11/01/62 | &nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105001 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681529 |
| **North Carolina 0.6%** | **North Carolina 0.6%** | **North Carolina 0.6%** | **North Carolina 0.6%** | **North Carolina 0.6%** |
| Cumberland Cnty. Indl. Facs. & Pollution Ctl. Fin. Auth. Rev.,<br> Proj. Aero, AMT (Mandatory put date 11/01/25) | 3.750(cc) | &nbsp;&nbsp;12/01/27 | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174738 |

---

------

### PGIM Ultra Short Municipal Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** |
| **Oklahoma 1.6%** | **Oklahoma 1.6%** | **Oklahoma 1.6%** | **Oklahoma 1.6%** | **Oklahoma 1.6%** |
| Oklahoma Dev. Fin. Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Integris, Series A, Rfdg. | 5.000% | &nbsp;&nbsp;08/15/25 | &nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; $376206 |
| &nbsp;&nbsp;&nbsp;&nbsp;OU Med. Proj., Series B | 5.000 | &nbsp;&nbsp;08/15/26 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100876 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477082 |
| **Oregon 1.4%** | **Oregon 1.4%** | **Oregon 1.4%** | **Oregon 1.4%** | **Oregon 1.4%** |
| Port of Portland Arpt. Rev.,<br> Series 27-A, Rfdg., AMT | 5.000 | &nbsp;&nbsp;07/01/26 | &nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427446 |
| **Pennsylvania 3.7%** | **Pennsylvania 3.7%** | **Pennsylvania 3.7%** | **Pennsylvania 3.7%** | **Pennsylvania 3.7%** |
| Pennsylvania Tpke. Commn. Rev.,<br> Series A-1, Rfdg. | 5.000 | &nbsp;&nbsp;12/01/40 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 |
| University of Pittsburgh-of the Commonwealth Sys. of Higher Edl. Rev.,<br> Rfdg. | 4.000 | &nbsp;&nbsp;04/15/26 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100689 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100689 |
| **South Carolina 2.5%** | **South Carolina 2.5%** | **South Carolina 2.5%** | **South Carolina 2.5%** | **South Carolina 2.5%** |
| SCAGO Edl. Facs. Corp. for Pickens Sch. Dist. Rev.,<br> Rfdg. | 5.000 | &nbsp;&nbsp;12/01/30 | &nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750617 |
| **Tennessee 3.8%** | **Tennessee 3.8%** | **Tennessee 3.8%** | **Tennessee 3.8%** | **Tennessee 3.8%** |
| Tennessee Energy Acq. Corp. Gas Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gas Proj., Series A-1, Rfdg. (Mandatory put date 05/01/28) | 5.000(cc) | &nbsp;&nbsp;05/01/53 | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154336 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nat. Gas Utility Imps. (Mandatory put date 11/01/25) | 4.000(cc) | &nbsp;&nbsp;11/01/49 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000406 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154742 |
| **Texas 14.8%** | **Texas 14.8%** | **Texas 14.8%** | **Texas 14.8%** | **Texas 14.8%** |
| City of Austin Arpt. Sys. Rev.,<br> AMT | 5.000 | &nbsp;&nbsp;11/15/39 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999977 |
| City of Dallas Hsg. Fin. Corp. Rev.,<br> The Positano (Mandatory put date 03/01/26) | 5.000(cc) | &nbsp;&nbsp;09/01/26 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100269 |
| Clifton Higher EdI. Fin. Corp. Rev.,<br> Idea Pub. Sch., Series B | 5.000 | &nbsp;&nbsp;08/15/27 | &nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339922 |
| Harris Cnty. Cultural Edl. Facs. Fin. Corp. Rev.,<br> Memorial Hermann Hlth. Sys., Series B-3 (Mandatory Put Date 12/01/26) | 5.000(cc) | &nbsp;&nbsp;07/01/49 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204938 |

---

------

### PGIM Ultra Short Municipal Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** |
| **Texas (cont'd.)** | **Texas (cont'd.)** | **Texas (cont'd.)** | **Texas (cont'd.)** | **Texas (cont'd.)** |
| Houston Hsg. Fin. Corp. Rev.,<br> Alcott Vlg., Series A (Mandatory put date 04/01/26) | 3.200 %(cc) | &nbsp;&nbsp;04/01/28 | 500 | &nbsp;&nbsp; $497965 |
| Lower Colorado River Auth. Rev.,<br> LCRA Transmn. Svcs. Corp. Proj., Rfdg. | 5.000 | &nbsp;&nbsp;05/15/26 | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152790 |
| Mission Econ. Dev. Corp. Rev.,<br> Wste. Mgmt., Inc. Proj., Series A, AMT (Mandatory put date 09/02/25) | 3.750(cc) | &nbsp;&nbsp;05/01/46 | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499980 |
| New Hope Cultural EdI. Facs. Fin. Corp. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jubilee Academic Center, Rfdg.144A | 4.000 | &nbsp;&nbsp;08/15/25 | 195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194754 |
| &nbsp;&nbsp;&nbsp;&nbsp;Westminster Proj., Rfdg. | 5.000 | &nbsp;&nbsp;11/01/25 | 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301630 |
| &nbsp;&nbsp;&nbsp;&nbsp;Westminster Proj., Rfdg. | 5.000 | &nbsp;&nbsp;11/01/26 | 280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285285 |
| Tarrant Cnty. Cultural Edl. Facs. Fin. Corp. Rev.,<br> Baylor Scott and White Hlth. Proj., Series E (Mandatory put date 05/15/26) | 5.000(cc) | &nbsp;&nbsp;11/15/52 | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253203 |
| Texarkana Independent Sch. Dist.,<br> GO (Mandatory put date 08/15/26) | 4.000(cc) | &nbsp;&nbsp;02/15/53 | 480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482087 |
| Travis Cnty. Hsg. Fin. Corp. Rev.,<br> Kensington Apts. (Mandatory put date 08/01/25) | 3.750(cc) | &nbsp;&nbsp;08/01/26 | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149998 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4462798 |
| **Washington 3.5%** | **Washington 3.5%** | **Washington 3.5%** | **Washington 3.5%** | **Washington 3.5%** |
| Washington Healthcare Facs. Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commonspirit Hlth., Series B-3, Rfdg. (Mandatory put date 08/01/26) | 5.000(cc) | &nbsp;&nbsp;08/01/49 | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251447 |
| &nbsp;&nbsp;&nbsp;&nbsp;Multicare Hlth. Sys., Series B, Rfdg. | 5.000 | &nbsp;&nbsp;08/15/25 | 230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230659 |
| &nbsp;&nbsp;&nbsp;&nbsp;Multicare Hlth. Sys., Series B, Rfdg. | 5.000 | &nbsp;&nbsp;08/15/26 | 170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170419 |
| &nbsp;&nbsp;&nbsp;&nbsp;Overlake Hosp. Med. Ctr., Series B, Rfdg. | 5.000 | &nbsp;&nbsp;07/01/26 | 270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274853 |
| Whatcom Cnty. Pub. Util. Dist. No. 1,<br> Series A, GO, AMT, BAM | 5.000 | &nbsp;&nbsp;12/01/27 | 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123730 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051108 |
| **Wisconsin 5.6%** | **Wisconsin 5.6%** | **Wisconsin 5.6%** | **Wisconsin 5.6%** | **Wisconsin 5.6%** |
| Pub. Fin. Auth. Rev., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Kahala Nui Proj., Rfdg. | 5.000 | &nbsp;&nbsp;11/15/25 | 360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362324 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kahala Nui Proj., Rfdg. | 5.000 | &nbsp;&nbsp;11/15/26 | 275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280701 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kahala Nui Proj., Rfdg. | 5.000 | &nbsp;&nbsp;11/15/27 | 290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Triad Edu. Svcs., Inc., Series A | 4.000 | &nbsp;&nbsp;06/15/26 | 370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370896 |

---

------

### PGIM Ultra Short Municipal Bond ETF

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** |
| **Wisconsin (cont'd.)** | **Wisconsin (cont'd.)** | **Wisconsin (cont'd.)** | **Wisconsin (cont'd.)** | **Wisconsin (cont'd.)** |
| Wisconsin Dept. of Transp. Rev.,<br> Series 1, Rfdg. | 5.000% | &nbsp;&nbsp;07/01/26 | 265 | &nbsp;&nbsp; $271099 |
| Wisconsin Hsg. & Econ. Dev. Auth. Hsg. Rev.,<br> Series B (Mandatory put date 11/01/25) | 4.000(cc) | &nbsp;&nbsp;11/01/53 | 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115024 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699844 |
| **Total Long-Term Investments<br> (cost $30,782,862)** | **Total Long-Term Investments<br> (cost $30,782,862)** | **Total Long-Term Investments<br> (cost $30,782,862)** | **Total Long-Term Investments<br> (cost $30,782,862)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30759711 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Shares** |  |
| **Short-Term Investment 0.1%** | **Short-Term Investment 0.1%** | **Short-Term Investment 0.1%** |
| **Affiliated Mutual Fund** |  |  |
| PGIM Core Government Money Market Fund (7-day effective yield 4.462%)<br> (cost $25,125)(wb) | &nbsp;&nbsp;25125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25125 |
| **TOTAL INVESTMENTS 102.1%<br> (cost $30,807,987)** | **TOTAL INVESTMENTS 102.1%<br> (cost $30,807,987)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30784836 |
| Liabilities in excess of other assets(z) (2.1)% | Liabilities in excess of other assets(z) (2.1)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(620369) |
| **Net Assets 100.0%** | **Net Assets 100.0%** | $30164467 |

---

------

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 |
| BAM—Build America Mutual |
| BANS—Bond Anticipation Notes |
| GO—General Obligation |
| JPM—JPMorgan Chase Bank N.A. |
| MUNIPSA—Municipal Swap Weekly Yield Index |
| OTC—Over-the-counter |
| Q—Quarterly payment frequency for swaps |

---

# Principal or notional 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 May 31, 2025. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.

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

------

### PGIM Ultra Short Municipal Bond ETF

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

(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 May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** |
| **Number<br> of<br> Contracts** | **Type** | **Expiration<br> Date** | **Current<br> Notional<br> Amount** | **Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Long Position:** | **Long Position:** | **Long Position:** | **Long Position:** | **Long Position:** |
| 10 | 2 Year U.S. Treasury Notes | Sep. 2025 | $2074375 | $316 |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Floating<br> Rate** | &nbsp;&nbsp;&nbsp;**Fair<br> Value** | &nbsp;&nbsp;&nbsp;**Upfront<br> Premiums<br> Paid(Received)** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Counterparty** |
| **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** |
| 925 | &nbsp;&nbsp;03/12/26 | &nbsp;&nbsp;2.690%(Q) | &nbsp;&nbsp;1 Week MUNIPSA(2)(Q)/ 1.970% | &nbsp;&nbsp; $(1501) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1501) | &nbsp;&nbsp;JPM |
| 500 | &nbsp;&nbsp;11/07/26 | &nbsp;&nbsp;2.748%(Q) | &nbsp;&nbsp;1 Week MUNIPSA(2)(Q)/ 1.970% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;JPM |
| 700 | &nbsp;&nbsp;02/05/27 | &nbsp;&nbsp;2.840%(Q) | &nbsp;&nbsp;1 Week MUNIPSA(2)(Q)/ 1.970% | &nbsp;&nbsp;&nbsp;&nbsp;2472 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2472 | &nbsp;&nbsp;JPM |
| 1870 | &nbsp;&nbsp;05/27/27 | &nbsp;&nbsp;2.670%(Q) | &nbsp;&nbsp;1 Week MUNIPSA(1)(Q)/ 1.970% | &nbsp;&nbsp;&nbsp;&nbsp;(2677) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2677) | &nbsp;&nbsp;JPM |
|  |  |  |  | &nbsp;&nbsp;$(1073) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(1073) |  |

---

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

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Newark

  - **State:** NJ

  - **Foreign country:** US

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

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

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

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

- **b. EDGAR series identifier (if any):** S000085146

- **c. LEI of Series:** 529900N2SPHIJHBHFD45

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $30176604.94

**Total Liabilities:** $8151.36

**Net Assets:** $30168453.58

**Cash Not Reported:** $169358.64

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 176.38741000 | **1-Year:** 2463.03348000 | **5-Year:** 946.67435000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 4.08984000 | **1-Year:** 71.47500000 | **5-Year:** 5.58531000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250013 | 0.21%                | -0.01%               | 0.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-23787.05                                 |
| Month 2  | $-1477.84                | $-85930.59                                 |
| Month 3  | $1399.93                 | $44606.95                                  |

**Designated Index Information**

- **Index Name:** PGIM Ultrashort Municipal Bond ETF - Ex Derivatives

- **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 2YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         3 | NC      | $707.21       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVIS CNTY TX HSG FIN CORP MF                   | Travis County Housing Finance Corp                                              | CUSIP: 89438UBP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149997.57    | 0.50%             | 2026-08-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| COLUMBUS GA MED CTR HOSP AUTH                    | Columbus Medical Center Hospital Authority                                      | CUSIP: 199124BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $156594.84    | 0.52%             | 2054-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SCAGO SC EDUCTNL FACS CORP FOR                   | SCAGO Educational Facilities Corp for Pickens School District                   | CUSIP: 80585TCG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750616.66    | 2.49%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                   | Colorado Health Facilities Authority                                            | CUSIP: 19648FVK7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    175000 | PA      | $178464.14    | 0.59%             | 2062-05-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                    | New Hope Cultural Education Facilities Finance Corp                             | CUSIP: 64542UGP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $301630.39    | 1.00%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                      | State of Illinois                                                               | CUSIP: 452153BR9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    140000 | PA      | $145773.17    | 0.48%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                       | Public Finance Authority                                                        | CUSIP: 74442PH57<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    275000 | PA      | $280700.41    | 0.93%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT REVEN                   | Port of Portland OR Airport Revenue                                             | CUSIP: 735240V91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $427446.26    | 1.42%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                   | Washington Health Care Facilities Authority                                     | CUSIP: 93978HUF0<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    270000 | PA      | $274853.00    | 0.91%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A                   | City of Los Angeles Department of Airports                                      | CUSIP: 544445EX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $339308.34    | 1.12%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION        | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $642.94       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                   | Colorado Health Facilities Authority                                            | CUSIP: 19648FYY4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    245000 | PA      | $254470.33    | 0.84%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                   | Massachusetts Development Finance Agency                                        | CUSIP: 57584XEF4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1035718.96   | 3.43%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P                   | Los Angeles Department of Water & Power                                         | CUSIP: 544532CS1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    200000 | PA      | $202506.30    | 0.67%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH MF HS                   | Arizona Industrial Development Authority                                        | CUSIP: 04062PCC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019287.41   | 3.38%             | 2058-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI                   | Pennsylvania Turnpike Commission                                                | CUSIP: 709224HN2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 3.31%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                   | Tarrant County Cultural Education Facilities Finance Corp                       | CUSIP: 87638QSF7<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253203.32    | 0.84%             | 2052-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HLTH SYS R                   | Indiana Finance Authority                                                       | CUSIP: 45470YEX5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    860000 | PA      | $858645.10    | 2.85%             | 2058-12-01      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD                   | Michigan Strategic Fund                                                         | CUSIP: 594698SR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497381.55    | 1.65%             | 2061-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                   | Washington Health Care Facilities Authority                                     | CUSIP: 93978HVB8<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    250000 | PA      | $251446.99    | 0.83%             | 2049-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV ARPT REVENUE                       | County of Clark Department of Aviation                                          | CUSIP: 18085PSV7<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |    500000 | PA      | $515671.12    | 1.71%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION        | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-2710.66     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY NC INDL FACS &                   | Cumberland County Industrial Facilities & Pollution Control Financing Authority | CUSIP: 230589AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $174738.45    | 0.58%             | 2027-12-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| DALLAS TX HSG FIN CORP                           | City of Dallas Housing Finance Corp                                             | CUSIP: 235298BT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100268.85    | 0.33%             | 2026-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU                   | Wisconsin Housing & Economic Development Authority Housing Revenue              | CUSIP: 9769043D2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115024.30    | 0.38%             | 2053-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                     | Illinois Finance Authority                                                      | CUSIP: 45204EBL1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253702.79    | 0.84%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST RURAL WTR FIN AUT                   | Minnesota Rural Water Finance Authority Inc                                     | CUSIP: 60411PBE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200082.27    | 0.66%             | 2026-08-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                       | Public Finance Authority                                                        | CUSIP: 74442PH65<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    290000 | PA      | $299800.04    | 0.99%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN                   | New Hope Cultural Education Facilities Finance Corp                             | CUSIP: 64542QBY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $194754.34    | 0.65%             | 2025-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST SALES TAX REVENUE                    | State of Illinois Sales Tax Revenue                                             | CUSIP: 452227RM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $314171.94    | 1.04%             | 2027-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST TRANSPRTN REVENUE                   | Wisconsin Department of Transportation                                          | CUSIP: 977123Q43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $271099.13    | 0.90%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF PITTSBURGH PA OF THE C                   | University of Pittsburgh-of the Commonwealth System of Higher Education         | CUSIP: 91335VKW5<br>LEI: 5493002C83QSGL8ETT42 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100689.37    | 0.33%             | 2026-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION        | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $2487.94      | 0.01%             |  |  |  | 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      | $247436.81    | 0.82%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH MF HS                   | Arizona Industrial Development Authority                                        | CUSIP: 04062PCD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102178.86    | 0.34%             | 2058-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA                   | Harris County Cultural Education Facilities Finance Corp                        | CUSIP: 414009MP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204937.85    | 0.68%             | 2049-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CA TOBACCO SEC                   | California County Tobacco Securitization Agency                                 | CUSIP: 13016NGJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $334488.70    | 1.11%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTHR                   | Orange County Health Facilities Authority                                       | CUSIP: 68450LGT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255043.74    | 0.85%             | 2052-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P                   | Los Angeles Department of Water & Power                                         | CUSIP: 544532PA6<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    175000 | PA      | $180922.51    | 0.60%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                   | Kentucky Public Energy Authority                                                | CUSIP: 74440DCM4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    280000 | PA      | $280658.19    | 0.93%             | 2050-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| (PIPA070) PGIM Core Government Money Market Fund | (PIPA070) PGIM Core Government Money Market Fund                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     25125 | NS      | $25124.61     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                   | Washington Health Care Facilities Authority                                     | CUSIP: 93978HNV3<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170419.20    | 0.56%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX HSG FIN CORP MF HSG                   | Houston Housing Finance Corp                                                    | CUSIP: 442396EP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497964.59    | 1.65%             | 2028-04-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION        | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1484.03     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED                   | Clifton Higher Education Finance Corp                                           | CUSIP: 187145GD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $339922.51    | 1.13%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOPERAT                   | Southeast Energy Authority A Cooperative District                               | CUSIP: 84136HAJ2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    220000 | PA      | $220731.37    | 0.73%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                    | Metropolitan Transportation Authority                                           | CUSIP: 59261AGY7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    170000 | PA      | $173655.48    | 0.58%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH HLTHS                   | Oklahoma Development Finance Authority                                          | CUSIP: 67884XCA3<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100875.85    | 0.33%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                                    | State of California                                                             | CUSIP: 13063CXN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $767137.71    | 2.54%             | 2026-12-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                   | Public Finance Authority                                                        | CUSIP: 74442EHH6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    370000 | PA      | $370895.61    | 1.23%             | 2026-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N                   | Tobacco Settlement Financing Corp                                               | CUSIP: 888808HD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517581.25    | 1.72%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                   | Colorado Health Facilities Authority                                            | CUSIP: 19648FLA0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    125000 | PA      | $126444.92    | 0.42%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                   | Main Street Natural Gas Inc                                                     | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    335000 | PA      | $336137.63    | 1.11%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST CONVENTION CENTER                    | New York Convention Center Development Corp                                     | CUSIP: 649451DM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000148.01   | 3.32%             | 2040-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV COR                   | Dutchess County Local Development Corp                                          | CUSIP: 267045GK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203070.77    | 0.67%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH                    | Illinois State Toll Highway Authority                                           | CUSIP: 452252KS7<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000116.27   | 3.32%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                      | State of Illinois                                                               | CUSIP: 452153GC7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    330000 | PA      | $341481.19    | 1.13%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                     | Illinois Finance Authority                                                      | CUSIP: 45204FEH4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    435000 | PA      | $441069.76    | 1.46%             | 2050-05-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                     | Illinois Finance Authority                                                      | CUSIP: 45204ER42<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    765000 | PA      | $750546.34    | 2.49%             | 2028-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH HLTHS                   | Oklahoma Development Finance Authority                                          | CUSIP: 67884XBL0<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    375000 | PA      | $376206.18    | 1.25%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF COLORADO CO ENTERPRISE                   | University of Colorado                                                          | CUSIP: 91417NDA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $254017.35    | 0.84%             | 2051-06-01      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| TEXARKANA TX INDEP SCH DIST                      | Texarkana Independent School District                                           | CUSIP: 881847VM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $482087.04    | 1.60%             | 2053-02-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                   | Kentucky Public Energy Authority                                                | CUSIP: 74440DBR4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 1.66%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUNI ELEC UTILITY                    | Missouri Joint Municipal Electric Utility Commission                            | CUSIP: 606092JZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 1.99%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY MD HSG OPPORTU                   | Montgomery County Housing Opportunities Commission                              | CUSIP: 6133494U0<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    385000 | PA      | $373977.37    | 1.24%             | 2028-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALG                   | Black Belt Energy Gas District                                                  | CUSIP: 09182RBE0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    135000 | PA      | $135335.41    | 0.45%             | 2049-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA URBAN RSDL FIN AUTH                   | Atlanta Urban Residential Finance Authority                                     | CUSIP: 04785VBN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $280000.00    | 0.93%             | 2027-06-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P                   | Los Angeles Department of Water & Power                                         | CUSIP: 544532CQ5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    475000 | PA      | $476169.70    | 1.58%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                   | Washington Health Care Facilities Authority                                     | CUSIP: 93978HNU5<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    230000 | PA      | $230658.75    | 0.76%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ARPT SYS REVENUE                       | City of Austin TX Airport System Revenue                                        | CUSIP: 052398EQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999976.88    | 3.31%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERGY ACQUISITIO                   | Tennessee Energy Acquisition Corp                                               | CUSIP: 880443JE7<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000406.49   | 3.32%             | 2049-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P                   | Los Angeles Department of Water & Power                                         | CUSIP: 544532AA2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    425000 | PA      | $431850.77    | 1.43%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                   | Kentucky Public Energy Authority                                                | CUSIP: 74440DCC6<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    235000 | PA      | $235000.00    | 0.78%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| WHATCOM CNTY WA PUBLIC UTIL DI                   | Whatcom County Public Utility District No 1                                     | CUSIP: 962468FD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $123729.63    | 0.41%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE &                   | California Infrastructure & Economic Development Bank                           | CUSIP: 13034AD23<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    880000 | PA      | $858613.24    | 2.85%             | 2055-08-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP                    | New York City Housing Development Corp                                          | CUSIP: 64972E3D9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    200000 | PA      | $199653.58    | 0.66%             | 2062-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERGY ACQUISITIO                   | Tennessee Energy Acquisition Corp                                               | CUSIP: 880443JF4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    150000 | PA      | $154335.96    | 0.51%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE                     | Michigan Finance Authority                                                      | CUSIP: 59447TJ87<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    380000 | PA      | $385069.08    | 1.28%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                   | Colorado Health Facilities Authority                                            | CUSIP: 19648FJH8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100004.65    | 0.33%             | 2049-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                      | State of Illinois                                                               | CUSIP: 452152D32<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    215000 | PA      | $218650.07    | 0.72%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T                   | Lower Colorado River Authority                                                  | CUSIP: 54811BXZ9<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152789.59    | 0.51%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                    | New Hope Cultural Education Facilities Finance Corp                             | CUSIP: 64542UGQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $285285.52    | 0.95%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY AFFORD                   | New York State Housing Finance Agency                                           | CUSIP: 64987JD99<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    105000 | PA      | $105001.16    | 0.35%             | 2062-11-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                   | Colorado Health Facilities Authority                                            | CUSIP: 19648FJL9<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    260000 | PA      | $264656.18    | 0.88%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                       | Public Finance Authority                                                        | CUSIP: 74442PH40<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    360000 | PA      | $362324.13    | 1.20%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                   | Colorado Health Facilities Authority                                            | CUSIP: 19648FGN8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    290000 | PA      | $292085.17    | 0.97%             | 2048-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** PGIM ETF Trust

**Signature:** Christian J. Kelly

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

**Title:** Chief Financial Officer