# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-26-002582
**Filing Date:** 2026-2
**Character Count:** 47795
**Document Hash:** 1c11fa519151523dd2b5b833c743c58e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-002582.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001099263-26-002582

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 26686628

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

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

## Series and Classes Contracts Data

### T. Rowe Price Hedged Equity ETF (Series ID: S000089786)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000256566 | T. Rowe Price Hedged Equity ETF | THEQ            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

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

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

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

- **b. EDGAR series identifier (if any):** S000089786

- **c. LEI of Series:** 25490034KDBSU0CDUM67

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $34304851.25

**Total Liabilities:** $32795.63

**Net Assets:** $34272055.62

**Cash Not Reported:** $28355.38

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256566 | 1.36%                | 0.11%                | -0.21%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1430.66                 | $399631.55                                 |
| Month 2  | $10976.36                | $50593.59                                  |
| Month 3  | $-707.85                 | $-224762.99                                |

**Designated Index Information**

- **Index Name:** S&P 500 INDEX

- **Index Identifier:** SP500

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABBVIE INC                            | ABBVIE INC COMMON STOCK USD.01                              | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |       109 | NS      | $24905.41     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC CL A                    | ACCENTURE PLC CL A COMMON STOCK USD.0000225                 | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |       202 | NS      | $54196.60     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP                         | ALLSTATE CORP COMMON STOCK USD.01                           | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |       255 | NS      | $53078.25     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AMDOCS LTD                            | AMDOCS LTD COMMON STOCK GBP.0001                            | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |       289 | NS      | $23267.39     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORPORATION                    | AMEREN CORPORATION COMMON STOCK USD.01                      | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |       303 | NS      | $30257.58     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK INC                            | AMETEK INC COMMON STOCK USD.01                              | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |        51 | NS      | $10470.81     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORP-CL A                    | AMPHENOL CORP CL A COMMON STOCK USD.001                     | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |       399 | NS      | $53920.86     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                             | APPLE INC COMMON STOCK USD.00001                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |        44 | NS      | $11961.84     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS INC                   | ARISTA NETWORKS INC COMMON STOCK USD.0001                   | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |        53 | NS      | $6944.59      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTHUR J GALLAGHER & CO               | ARTHUR J GALLAGHER + CO COMMON STOCK USD1.0                 | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |        38 | NS      | $9834.02      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                              | AT+T INC COMMON STOCK USD1.0                                | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      1324 | NS      | $32888.16     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ATMOS ENERGY CORP                     | ATMOS ENERGY CORP COMMON STOCK                              | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |       102 | NS      | $17098.26     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING             | AUTOMATIC DATA PROCESSING COMMON STOCK USD.1                | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |        95 | NS      | $24436.85     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOZONE INC                          | AUTOZONE INC COMMON STOCK USD.01                            | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |        13 | NS      | $44089.50     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BECTON DICKINSON AND CO               | BECTON DICKINSON AND CO COMMON STOCK USD1.0                 | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |        59 | NS      | $11450.13     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC-CL B           | BERKSHIRE HATHAWAY INC CL B COMMON STOCK USD.0033           | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |       105 | NS      | $52778.25     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC                  | BOOKING HOLDINGS INC COMMON STOCK USD.008                   | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |         1 | NS      | $5355.33      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOZ ALLEN HAMILTON HOLDINGS          | BOOZ ALLEN HAMILTON HOLDINGS COMMON STOCK USD.01            | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |       290 | NS      | $24464.40     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADRIDGE FINANCIAL SOLUTIO          | BROADRIDGE FINANCIAL SOLUTIO COMMON STOCK USD.01            | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |        53 | NS      | $11828.01     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYS INC                | CADENCE DESIGN SYS INC COMMON STOCK USD.01                  | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |        57 | NS      | $17817.06     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS INC               | CBOE GLOBAL MARKETS INC COMMON STOCK                        | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |       162 | NS      | $40662.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA INC                           | CENCORA INC COMMON STOCK USD.01                             | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       288 | NS      | $97272.00     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECK POINT SOFTWARE TECH             | CHECK POINT SOFTWARE TECH COMMON STOCK USD.01               | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |       133 | NS      | $24679.48     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CHUBB LTD                             | CHUBB LTD COMMON STOCK                                      | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |       333 | NS      | $103935.96    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS INC                     | CISCO SYSTEMS INC COMMON STOCK USD.001                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |       867 | NS      | $66785.01     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC                         | CME GROUP INC COMMON STOCK USD.01                           | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       249 | NS      | $67996.92     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP                       | CMS ENERGY CORP COMMON STOCK USD.01                         | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |       553 | NS      | $38671.29     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNIZANT TECH SOLUTIONS-A            | COGNIZANT TECH SOLUTIONS A COMMON STOCK USD.01              | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |       682 | NS      | $56606.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE CO                  | COLGATE PALMOLIVE CO COMMON STOCK USD1.0                    | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |       834 | NS      | $65902.68     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                        | CONOCOPHILLIPS COMMON STOCK USD.01                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |       340 | NS      | $31827.40     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSOLIDATED EDISON INC               | CONSOLIDATED EDISON INC COMMON STOCK USD.1                  | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |       185 | NS      | $18374.20     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX CORP                              | CSX CORP COMMON STOCK USD1.0                                | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |       305 | NS      | $11056.25     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINO S PIZZA INC                    | DOMINO S PIZZA INC COMMON STOCK USD.01                      | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |        14 | NS      | $5835.48      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY COMPANY                    | DTE ENERGY COMPANY COMMON STOCK                             | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |       208 | NS      | $26827.84     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP                      | DUKE ENERGY CORP COMMON STOCK USD.001                       | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |       648 | NS      | $75952.08     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC                   | ELECTRONIC ARTS INC COMMON STOCK USD.01                     | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |        90 | NS      | $18389.70     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY & CO                        | ELI LILLY + CO COMMON STOCK                                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |         9 | NS      | $9672.12      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ENCOMPASS HEALTH CORP                 | ENCOMPASS HEALTH CORP COMMON STOCK USD.01                   | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |       159 | NS      | $16876.26     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY CORP                          | ENTERGY CORP COMMON STOCK USD.01                            | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |       101 | NS      | $9335.43      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES INC                     | EOG RESOURCES INC COMMON STOCK USD.01                       | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |       347 | NS      | $36438.47     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERGY INC                            | EVERGY INC COMMON STOCK                                     | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |       439 | NS      | $31823.11     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                      | EXXON MOBIL CORP COMMON STOCK                               | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |       597 | NS      | $71842.98     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 INC                                | F5 INC COMMON STOCK                                         | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |       113 | NS      | $28844.38     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTINET INC                          | FORTINET INC COMMON STOCK USD.001                           | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |       436 | NS      | $34622.76     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MILLS INC                     | GENERAL MILLS INC COMMON STOCK USD.1                        | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |       443 | NS      | $20599.50     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC                   | GILEAD SCIENCES INC COMMON STOCK USD.001                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |       555 | NS      | $68120.70     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| GODADDY INC - CLASS A                 | GODADDY INC   CLASS A COMMON STOCK USD.001                  | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |       210 | NS      | $26056.80     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD INSURANCE GROUP INC/T        | HARTFORD INSURANCE GROUP INC COMMON STOCK USD.01            | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |       309 | NS      | $42580.20     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                        | HOME DEPOT INC COMMON STOCK USD.05                          | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |        16 | NS      | $5505.60      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| INGREDION INC                         | INGREDION INC COMMON STOCK USD.01                           | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |       233 | NS      | $25690.58     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| INTL BUSINESS MACHINES CORP           | INTL BUSINESS MACHINES CORP COMMON STOCK USD.2              | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |       150 | NS      | $44431.50     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                            | INTUIT INC COMMON STOCK USD.01                              | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       101 | NS      | $66904.42     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                     | JOHNSON + JOHNSON COMMON STOCK USD1.0                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |       306 | NS      | $63326.70     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC                  | KEURIG DR PEPPER INC COMMON STOCK USD.01                    | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |       675 | NS      | $18906.75     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                             | LINDE PLC COMMON STOCK                                      | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |        59 | NS      | $25157.01     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORP                  | LOCKHEED MARTIN CORP COMMON STOCK USD1.0                    | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |        62 | NS      | $29987.54     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE S COS INC                        | LOWE S COS INC COMMON STOCK USD.5                           | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |       143 | NS      | $34485.88     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH & MCLENNAN COS                  | MARSH + MCLENNAN COS COMMON STOCK USD1.0                    | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |       244 | NS      | $45266.88     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC - A                    | MASTERCARD INC   A COMMON STOCK USD.0001                    | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       141 | NS      | $80494.08     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDONALD S CORP                       | MCDONALD S CORP COMMON STOCK USD.01                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       252 | NS      | $77018.76     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORP                         | MCKESSON CORP COMMON STOCK USD.01                           | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       137 | NS      | $112379.73    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PLC                         | MEDTRONIC PLC COMMON STOCK USD.1                            | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |       352 | NS      | $33813.12     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO. INC.                      | MERCK + CO. INC. COMMON STOCK USD.5                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |       668 | NS      | $70313.68     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                        | MICROSOFT CORP COMMON STOCK USD.00000625                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |       195 | NS      | $94305.90     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA  SOLUTIONS INC               | MOTOROLA SOLUTIONS INC COMMON STOCK USD.01                  | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       150 | NS      | $57498.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP INC                            | NETAPP INC COMMON STOCK USD.001                             | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |       285 | NS      | $30520.65     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMONT CORP                          | NEWMONT CORP COMMON STOCK USD1.6                            | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |       113 | NS      | $11283.05     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHROP GRUMMAN CORP                 | NORTHROP GRUMMAN CORP COMMON STOCK USD1.0                   | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |        44 | NS      | $25089.24     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                           | NVIDIA CORP COMMON STOCK USD.001                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |       211 | NS      | $39351.50     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| O REILLY AUTOMOTIVE INC               | O REILLY AUTOMOTIVE INC COMMON STOCK USD.01                 | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |       546 | NS      | $49800.66     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                           | ORACLE CORP COMMON STOCK USD.01                             | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |        14 | NS      | $2728.74      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PALO ALTO NETWORKS INC                | PALO ALTO NETWORKS INC COMMON STOCK USD.0001                | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |       203 | NS      | $37392.60     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PARKER HANNIFIN CORP                  | PARKER HANNIFIN CORP COMMON STOCK USD.5                     | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |         8 | NS      | $7031.68      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PEPSICO INC                           | PEPSICO INC COMMON STOCK USD.017                            | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |       155 | NS      | $22245.60     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL           | PHILIP MORRIS INTERNATIONAL COMMON STOCK                    | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |       348 | NS      | $55819.20     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER & GAMBLE CO/THE               | PROCTER + GAMBLE CO/THE COMMON STOCK                        | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |       484 | NS      | $69362.04     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESSIVE CORP                      | PROGRESSIVE CORP COMMON STOCK USD1.0                        | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       145 | NS      | $33019.40     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC INC                               | PTC INC COMMON STOCK USD.01                                 | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |       230 | NS      | $40068.30     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INC                          | QUALCOMM INC COMMON STOCK USD.0001                          | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |        99 | NS      | $16933.95     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS             | REGENERON PHARMACEUTICALS COMMON STOCK USD.001              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |        35 | NS      | $27015.45     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS LTD            | RENAISSANCERE HOLDINGS LTD COMMON STOCK USD1.0              | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |       102 | NS      | $28678.32     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC                 | REPUBLIC SERVICES INC COMMON STOCK USD.01                   | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |       203 | NS      | $43021.79     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| RESMED INC                            | RESMED INC COMMON STOCK USD.004                             | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |       112 | NS      | $26977.44     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ROPER TECHNOLOGIES INC                | ROPER TECHNOLOGIES INC COMMON STOCK USD.01                  | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |       108 | NS      | $48074.04     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | S+P 500 INDEX DEC26 6000 PUT                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |         2 | NC      | $36880.00     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | S+P 500 INDEX NOV26 5900 PUT                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |         2 | NC      | $31380.00     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | S+P 500 INDEX OCT26 5900 PUT                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |         2 | NC      | $27980.00     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | S+P500 EMINI FUT  MAR26 XCME 20260320                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -5 | NC      | $-637.08      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                        | SALESFORCE INC COMMON STOCK USD.001                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       107 | NS      | $28345.37     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICENOW INC                        | SERVICENOW INC COMMON STOCK USD.001                         | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       478 | NS      | $73224.82     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO/THE                       | SOUTHERN CO/THE COMMON STOCK USD5.0                         | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |       403 | NS      | $35141.60     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C TECHNOLOGIES HOLDINGS            | SS+C TECHNOLOGIES HOLDINGS COMMON STOCK USD.01              | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |       302 | NS      | $26400.84     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US INC                       | T MOBILE US INC COMMON STOCK USD.0001                       | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       442 | NS      | $89743.68     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TRP US EQUITY RESEARCH ETF            | T ROWE PRICE US EQUITY RESEARC T ROWE PRICE US EQY RESEARCH | CUSIP: 87283Q503<br>LEI: 549300G9627FK2SYEV38 | Long             | EC               | RF                | US        |    644777 | NS      | $27583560.06  | 80.48%            |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund                       | CUSIP: 000000000<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |   2204173 | NS      | $2204172.72   | 6.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TE CONNECTIVITY PLC                   | TE CONNECTIVITY PLC COMMON STOCK USD.01                     | CUSIP: G87052109<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |       202 | NS      | $45957.02     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEDYNE TECHNOLOGIES INC             | TELEDYNE TECHNOLOGIES INC COMMON STOCK USD.01               | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |       112 | NS      | $57201.76     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS INSTRUMENTS INC                 | TEXAS INSTRUMENTS INC COMMON STOCK USD1.0                   | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |        55 | NS      | $9541.95      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX COMPANIES INC                     | TJX COMPANIES INC COMMON STOCK USD1.0                       | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |       209 | NS      | $32104.49     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVELERS COS INC/THE                 | TRAVELERS COS INC/THE COMMON STOCK                          | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |        86 | NS      | $24945.16     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| U S TREASURY BILL                     | TREASURY BILL 01/26 0.00000                                 | CUSIP: 912797PD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     20000 | PA      | $19960.52     | 0.06%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U S TREASURY BILL                     | TREASURY BILL 01/26 0.00000                                 | CUSIP: 912797PD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     70000 | PA      | $69861.83     | 0.20%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U S TREASURY BILL                     | TREASURY BILL 01/26 0.00000                                 | CUSIP: 912797RH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     40000 | PA      | $39976.86     | 0.12%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U S TREASURY BILL                     | TREASURY BILL 01/26 0.00000                                 | CUSIP: 912797SH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     20000 | PA      | $19950.92     | 0.06%             | 2026-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                         | TREASURY BILL 02/26 0.00000                                 | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $99526.78     | 0.29%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                         | TREASURY BILL 02/26 0.00000                                 | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     30000 | PA      | $29858.03     | 0.09%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                         | TREASURY BILL 02/26 0.00000                                 | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     30000 | PA      | $29858.03     | 0.09%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U S TREASURY BILL                     | TREASURY BILL 02/26 0.00000                                 | CUSIP: 912797RT6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     20000 | PA      | $19918.33     | 0.06%             | 2026-02-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED THERAPEUTICS CORP              | UNITED THERAPEUTICS CORP COMMON STOCK USD.01                | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |        37 | NS      | $18028.25     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                | UNITEDHEALTH GROUP INC COMMON STOCK USD.01                  | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |        88 | NS      | $29049.68     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 10YR NOTE (CBT)MAR26 XCBT 20260320                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |        38 | NC      | $-22772.70    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| VERISIGN INC                          | VERISIGN INC COMMON STOCK USD.001                           | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |       136 | NS      | $33041.20     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS INC                  | VERISK ANALYTICS INC COMMON STOCK USD.001                   | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |       138 | NS      | $30869.22     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC            | VERIZON COMMUNICATIONS INC COMMON STOCK USD.1               | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      1325 | NS      | $53967.25     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INC            | VERTEX PHARMACEUTICALS INC COMMON STOCK USD.01              | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |         6 | NS      | $2720.16      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC-CLASS A SHARES               | VISA INC CLASS A SHARES COMMON STOCK USD.0001               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       199 | NS      | $69791.29     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC                           | WALMART INC COMMON STOCK USD.1                              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |       180 | NS      | $20053.80     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE CONNECTIONS INC                 | WASTE CONNECTIONS INC COMMON STOCK                          | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |       329 | NS      | $57693.44     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE MANAGEMENT INC                  | WASTE MANAGEMENT INC COMMON STOCK USD.01                    | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |       191 | NS      | $41964.61     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC ENERGY GROUP INC                  | WEC ENERGY GROUP INC COMMON STOCK USD.01                    | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |        53 | NS      | $5589.38      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS COS INC                      | WILLIAMS COS INC COMMON STOCK USD1.0                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |       353 | NS      | $21218.83     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WORKDAY INC                           | WORKDAY INC CLASS A COMMON STOCK USD.001                    | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |        52 | NS      | $11168.56     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| XCEL ENERGY INC                       | XCEL ENERGY INC COMMON STOCK USD2.5                         | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |       452 | NS      | $33384.72     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM  BRANDS INC                       | YUM  BRANDS INC COMMON STOCK                                | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |        58 | NS      | $8774.24      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS INC            | ZIMMER BIOMET HOLDINGS INC COMMON STOCK USD.01              | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |       237 | NS      | $21311.04     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-04

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President