# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-25-003674
**Filing Date:** 2025-11
**Character Count:** 103435
**Document Hash:** 7861f05968b59d768635e6290998244d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-25-003674.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001099263-25-003674

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**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:** 251522076

**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 Capital Appreciation Premium Income ETF (Series ID: S000089785)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000256565 | T. Rowe Price Capital Appreciation Premium Income ETF | TCAL            |

## Nport-Ex

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

September 30, 2025 Unaudited

---

| | | |
|:---|:---|:---|
| **PORTFOLIO OF INVESTMENTS<sup>‡</sup>** | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| **COMMON STOCKS 100.8%** | **COMMON STOCKS 100.8%** | **COMMON STOCKS 100.8%** |
| **CONSUMER DISCRETIONARY 5.1%** | **CONSUMER DISCRETIONARY 5.1%** | **CONSUMER DISCRETIONARY 5.1%** |
| **Diversified Consumer Services 1.6%** |  |  |
| Service International | 26070 | &nbsp;&nbsp;&nbsp;2170 |
|  |  | &nbsp;&nbsp;&nbsp;**2170** |
| **Hotels, Restaurants & Leisure 3.5%** |  |  |
| McDonald's (1) | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;1458 |
| Starbucks (1) | 11914 | &nbsp;&nbsp;&nbsp;1008 |
| Yum! Brands (1) | 14868 | &nbsp;&nbsp;&nbsp;2260 |
|  |  | &nbsp;&nbsp;&nbsp;**4726** |
| Total Consumer Discretionary |  | &nbsp;&nbsp;&nbsp;6896 |
| **CONSUMER STAPLES 10.7%** | **CONSUMER STAPLES 10.7%** | **CONSUMER STAPLES 10.7%** |
| **Beverages 2.0%** |  |  |
| PepsiCo | 19144 | &nbsp;&nbsp;&nbsp;2689 |
|  |  | &nbsp;&nbsp;&nbsp;**2689** |
| **Consumer Staples Distribution & Retail 3.3%** |  |  |
| Kroger (1) | 40836 | &nbsp;&nbsp;&nbsp;2753 |
| Walmart | 16200 | &nbsp;&nbsp;&nbsp;1669 |
|  |  | &nbsp;&nbsp;&nbsp;**4422** |
| **Food Products 1.1%** |  |  |
| Mondelez International | 24440 | &nbsp;&nbsp;&nbsp;1527 |
|  |  | &nbsp;&nbsp;&nbsp;**1527** |
| **Household Products 4.3%** |  |  |
| Church & Dwight (1) | 22100 | &nbsp;&nbsp;&nbsp;1937 |
| Clorox (1) | &nbsp;&nbsp;&nbsp;9674 | &nbsp;&nbsp;&nbsp;1193 |
| Colgate-Palmolive (1) | 13238 | &nbsp;&nbsp;&nbsp;1058 |
| Procter & Gamble | 10500 | &nbsp;&nbsp;&nbsp;1613 |
|  |  | &nbsp;&nbsp;&nbsp;**5801** |
| Total Consumer Staples |  | 14439 |
| **FINANCIALS 15.9%** | **FINANCIALS 15.9%** | **FINANCIALS 15.9%** |
| **Capital Markets 5.2%** |  |  |
| Cboe Global Markets (1) | &nbsp;&nbsp;&nbsp;7842 | &nbsp;&nbsp;&nbsp;1923 |
| CME Group | &nbsp;&nbsp;&nbsp;9064 | &nbsp;&nbsp;&nbsp;2449 |
| S&P Global (1) | &nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;2726 |
|  |  | &nbsp;&nbsp;&nbsp;**7098** |
| **Financial Services 3.9%** |  |  |
| Mastercard, Class A (1) | &nbsp;&nbsp;&nbsp;4278 | &nbsp;&nbsp;&nbsp;2433 |
| Visa, Class A (1) | &nbsp;&nbsp;&nbsp;8248 | &nbsp;&nbsp;&nbsp;2816 |
|  |  | &nbsp;&nbsp;&nbsp;**5249** |

---

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| **Insurance 6.8%** |  |  |
| Aon, Class A | &nbsp;&nbsp;&nbsp;3768 | &nbsp;&nbsp;&nbsp;1344 |
| Arthur J. Gallagher (1) | 10100 | &nbsp;&nbsp;&nbsp;3128 |
| Brown & Brown (1) | 11000 | &nbsp;&nbsp;&nbsp;1032 |
| Marsh & McLennan | 13340 | &nbsp;&nbsp;&nbsp;2688 |
| Willis Towers Watson | &nbsp;&nbsp;&nbsp;3056 | &nbsp;&nbsp;&nbsp;1056 |
|  |  | &nbsp;&nbsp;&nbsp;**9248** |
| Total Financials |  | 21595 |
| **HEALTH CARE 22.7%** | **HEALTH CARE 22.7%** | **HEALTH CARE 22.7%** |
| **Biotechnology 4.4%** |  |  |
| AbbVie (1) | 11304 | &nbsp;&nbsp;&nbsp;2617 |
| Cytokinetics (1)(2) | 20774 | &nbsp;&nbsp;&nbsp;1142 |
| Gilead Sciences | 19960 | &nbsp;&nbsp;&nbsp;2216 |
|  |  | &nbsp;&nbsp;&nbsp;**5975** |
| **Health Care Equipment & Supplies 9.9%** |  |  |
| Abbott Laboratories (1) | 21800 | &nbsp;&nbsp;&nbsp;2920 |
| Becton Dickinson & Company | &nbsp;&nbsp;&nbsp;8962 | &nbsp;&nbsp;&nbsp;1677 |
| Hologic (1)(2) | 30042 | &nbsp;&nbsp;&nbsp;2028 |
| Medtronic | 27200 | &nbsp;&nbsp;&nbsp;2590 |
| Steris | &nbsp;&nbsp;&nbsp;6008 | &nbsp;&nbsp;&nbsp;1487 |
| Stryker | &nbsp;&nbsp;&nbsp;7536 | &nbsp;&nbsp;&nbsp;2786 |
|  |  | **13488** |
| **Health Care Providers & Services 4.4%** |  |  |
| Cardinal Health (1) | 13646 | &nbsp;&nbsp;&nbsp;2142 |
| Cencora | &nbsp;&nbsp;&nbsp;6008 | &nbsp;&nbsp;&nbsp;1878 |
| McKesson | &nbsp;&nbsp;&nbsp;2444 | &nbsp;&nbsp;&nbsp;1888 |
|  |  | &nbsp;&nbsp;&nbsp;**5908** |
| **Life Sciences Tools & Services 3.0%** |  |  |
| Danaher | &nbsp;&nbsp;&nbsp;6924 | &nbsp;&nbsp;&nbsp;1373 |
| Thermo Fisher Scientific | &nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;2667 |
|  |  | &nbsp;&nbsp;&nbsp;**4040** |
| **Pharmaceuticals 1.0%** |  |  |
| Johnson & Johnson (1) | &nbsp;&nbsp;&nbsp;7536 | &nbsp;&nbsp;&nbsp;1397 |
|  |  | &nbsp;&nbsp;&nbsp;**1397** |
| Total Health Care |  | 30808 |
| **INDUSTRIALS & BUSINESS SERVICES 19.3%** | **INDUSTRIALS & BUSINESS SERVICES 19.3%** | **INDUSTRIALS & BUSINESS SERVICES 19.3%** |
| **Aerospace & Defense 5.8%** |  |  |
| General Dynamics (1) | &nbsp;&nbsp;&nbsp;3972 | &nbsp;&nbsp;&nbsp;1354 |
| L3Harris Technologies (1) | &nbsp;&nbsp;&nbsp;7740 | &nbsp;&nbsp;&nbsp;2364 |
| Lockheed Martin (1) | &nbsp;&nbsp;&nbsp;5702 | &nbsp;&nbsp;&nbsp;2846 |
| Northrop Grumman | &nbsp;&nbsp;&nbsp;2138 | &nbsp;&nbsp;&nbsp;1303 |
|  |  | &nbsp;&nbsp;&nbsp;**7867** |

---

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| **Commercial Services & Supplies 8.0%** |  |  |
| Cintas (1) | 10500 | &nbsp;&nbsp;&nbsp;2155 |
| Republic Services (1) | &nbsp;&nbsp;&nbsp;9368 | &nbsp;&nbsp;&nbsp;2150 |
| Rollins | 31162 | &nbsp;&nbsp;&nbsp;1830 |
| Veralto | &nbsp;&nbsp;&nbsp;9470 | &nbsp;&nbsp;&nbsp;1010 |
| Waste Connections | &nbsp;&nbsp;&nbsp;7230 | &nbsp;&nbsp;&nbsp;1271 |
| Waste Management | 10700 | &nbsp;&nbsp;&nbsp;2363 |
|  |  | **10779** |
| **Industrial Conglomerates 1.2%** |  |  |
| Roper Technologies (1) | &nbsp;&nbsp;&nbsp;3360 | &nbsp;&nbsp;&nbsp;1676 |
|  |  | &nbsp;&nbsp;&nbsp;**1676** |
| **Machinery 2.2%** |  |  |
| Fortive | 13850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678 |
| Otis Worldwide (1) | 25154 | &nbsp;&nbsp;&nbsp;2300 |
|  |  | &nbsp;&nbsp;&nbsp;**2978** |
| **Professional Services 2.1%** |  |  |
| Automatic Data Processing | &nbsp;&nbsp;&nbsp;3564 | &nbsp;&nbsp;&nbsp;1046 |
| Booz Allen Hamilton Holdings (1) | 18126 | &nbsp;&nbsp;&nbsp;1812 |
|  |  | &nbsp;&nbsp;&nbsp;**2858** |
| Total Industrials & Business Services |  | 26158 |
| **INFORMATION TECHNOLOGY 3.0%** | **INFORMATION TECHNOLOGY 3.0%** | **INFORMATION TECHNOLOGY 3.0%** |
| **Software 3.0%** |  |  |
| Microsoft (1) | &nbsp;&nbsp;&nbsp;2648 | &nbsp;&nbsp;&nbsp;1371 |
| PTC (1)(2) | &nbsp;&nbsp;&nbsp;8146 | &nbsp;&nbsp;&nbsp;1654 |
| Workday (1)(2) | &nbsp;&nbsp;&nbsp;4378 | &nbsp;&nbsp;&nbsp;1054 |
| Total Information Technology |  | &nbsp;&nbsp;&nbsp;4079 |
| **MATERIALS 2.0%** | **MATERIALS 2.0%** | **MATERIALS 2.0%** |
| **Chemicals 2.0%** |  |  |
| Linde | &nbsp;&nbsp;&nbsp;5804 | &nbsp;&nbsp;&nbsp;2757 |
| Total Materials |  | &nbsp;&nbsp;&nbsp;2757 |
| **REAL ESTATE 5.8%** | **REAL ESTATE 5.8%** | **REAL ESTATE 5.8%** |
| **Specialized REITs 5.8%** |  |  |
| American Tower, REIT | 15072 | &nbsp;&nbsp;&nbsp;2899 |
| Crown Castle, REIT | 21400 | &nbsp;&nbsp;&nbsp;2065 |
| SBA Communications, REIT (1) | 14562 | &nbsp;&nbsp;&nbsp;2815 |
| Total Real Estate |  | &nbsp;&nbsp;&nbsp;7779 |
| **UTILITIES 16.3%** | **UTILITIES 16.3%** | **UTILITIES 16.3%** |
| **Electric Utilities 10.4%** |  |  |
| Alliant Energy (1) | 21600 | &nbsp;&nbsp;&nbsp;1456 |
| American Electric Power (1) | 12220 | &nbsp;&nbsp;&nbsp;1375 |
| Duke Energy (1) | 20164 | &nbsp;&nbsp;&nbsp;2495 |

---

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Evergy (1) | &nbsp;&nbsp;&nbsp;18636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417 |
| Exelon (1) | &nbsp;&nbsp;&nbsp;26478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192 |
| FirstEnergy (1) | &nbsp;&nbsp;&nbsp;54278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487 |
| PPL | &nbsp;&nbsp;&nbsp;47456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1763 |
| Southern | &nbsp;&nbsp;&nbsp;19552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**14038** |
| **Multi-Utilities 5.9%** |  |  |
| Ameren | &nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670 |
| CenterPoint Energy (1) | &nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940 |
| DTE Energy | &nbsp;&nbsp;&nbsp;18840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665 |
| WEC Energy Group | &nbsp;&nbsp;&nbsp;14970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7990** |
| Total Utilities |  | &nbsp;&nbsp;&nbsp;&nbsp;22028 |
| **Total Common Stocks (Cost $134,846)** |  | &nbsp;&nbsp;&nbsp;**136539** |
| **SHORT-TERM INVESTMENTS 0.3%** | **SHORT-TERM INVESTMENTS 0.3%** | **SHORT-TERM INVESTMENTS 0.3%** |
| **Money Market Funds 0.3%** |  |  |
| T. Rowe Price Government Reserve Fund, 4.16% (3)(4) | 396319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396 |
| **Total Short-Term Investments (Cost $396)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**396** |
| **Total Investments in Securities<br> 101.1% of Net Assets (Cost $135,242)** |  | **$136935** |
| **Other Assets Less Liabilities (1.1%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1439)** |
| **Net Assets 100.0%** |  | **$135496** |

---

---

| | |
|:---|:---|
| ‡ | Shares are denominated in U.S. dollars unless otherwise noted. |
| (1) | At September 30, 2025, all or a portion of this security is pledged as collateral and/or margin deposit to cover future funding obligations. |
| (2) | Non-income producing. |
| (3) | Seven-day yield |
| (4) | Affiliated Companies |
| REIT | A domestic Real Estate Investment Trust whose distributions pass-through with original tax character to the shareholder |

---

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

(Amounts in 000s, except for contracts)

---

| |
|:---|
| **OPTIONS WRITTEN (1.1)%** |
| **Exchange-Traded Options Written (1.1)%** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Contracts** | **Notional<br> Amount** | **$ Value** |
| Abbott Laboratories, Call, 10/17/25 @ $135.00 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;(1) |
| Abbott Laboratories, Call, 10/17/25 @ $140.00 | 215 | 2880 | (23) |
| AbbVie, Call, 10/17/25 @ $220.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;(1) |
| AbbVie, Call, 10/17/25 @ $230.00 | &nbsp;&nbsp;111 | 2570 | (48) |
| AbbVie, Call, 10/17/25 @ $235.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;— |
| Alliant Energy, Call, 10/17/25 @ $67.50 | 212 | 1429 | (24) |
| Alliant Energy, Call, 10/17/25 @ $70.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;— |
| Ameren, Call, 10/17/25 @ $105.00 | 158 | 1649 | (18) |
| Ameren, Call, 10/17/25 @ $110.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;— |
| American Electric Power, Call, 10/17/25 @ $115.00 | 122 | 1372 | &nbsp;&nbsp;&nbsp;(8) |
| American Tower, Call, 10/17/25 @ $200.00 | 150 | 2885 | (17) |
| Aon PLC, Call, 10/17/25 @ $380.00 | &nbsp;&nbsp;&nbsp;37 | 1319 | &nbsp;&nbsp;&nbsp;(3) |
| Arthur J Gallagher & Company, Call, 10/17/25 @ $310.00 | &nbsp;&nbsp;&nbsp;99 | 3066 | (66) |
| Arthur J Gallagher & Company, Call, 10/17/25 @ $320.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;(1) |
| Automatic Data Processing, Call, 10/17/25 @ $300.00 | &nbsp;&nbsp;&nbsp;35 | 1027 | &nbsp;&nbsp;&nbsp;(7) |
| Becton Dickinson & Company, Call, 10/17/25 @ $205.00 | &nbsp;&nbsp;&nbsp;83 | 1553 | &nbsp;&nbsp;&nbsp;(5) |
| Becton Dickinson & Company, Call, 10/17/25 @ $215.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;— |
| Becton Dickinson & Company, Call, 12/19/25 @ $210.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;(1) |
| Booz Allen Hamilton Holdings, Call, 10/17/25 @ $105.00 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;— |
| Booz Allen Hamilton Holdings, Call, 10/17/25 @ $110.00 | 178 | 1779 | &nbsp;&nbsp;&nbsp;(7) |
| Brown & Brown, Call, 10/17/25 @ $95.00 | 109 | 1022 | (19) |
| Brown & Brown, Call, 10/17/25 @ $100.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;— |
| Cardinal Health, Call, 10/17/25 @ $160.00 | 135 | 2119 | (27) |
| Cardinal Health, Call, 10/17/25 @ $162.50 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;— |
| Cboe Global Markets, Call, 10/17/25 @ $240.00 | &nbsp;&nbsp;&nbsp;76 | 1864 | (60) |
| Cboe Global Markets, Call, 10/17/25 @ $250.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;— |
| Cboe Global Markets, Call, 10/17/25 @ $255.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;— |
| Cencora, Call, 10/17/25 @ $310.00 | &nbsp;&nbsp;&nbsp;59 | 1844 | (53) |
| Cencora, Call, 10/17/25 @ $320.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;— |
| CenterPoint Energy, Call, 10/17/25 @ $40.00 | 500 | 1940 | (15) |
| Church & Dwight, Call, 10/17/25 @ $90.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;— |
| Church & Dwight, Call, 10/17/25 @ $95.00 | 217 | 1902 | (11) |
| Cintas, Call, 10/17/25 @ $210.00 | 104 | 2135 | &nbsp;&nbsp;&nbsp;(9) |
| Cintas, Call, 10/17/25 @ $215.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;— |
| Clorox, Call, 10/17/25 @ $130.00 | &nbsp;&nbsp;&nbsp;96 | 1184 | &nbsp;&nbsp;&nbsp;(6) |
| CME Group, Call, 10/17/25 @ $270.00 | &nbsp;&nbsp;&nbsp;88 | 2378 | (50) |
| CME Group, Call, 10/17/25 @ $280.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;— |
| Colgate-Palmolive, Call, 10/17/25 @ $85.00 | 132 | 1055 | &nbsp;&nbsp;&nbsp;(2) |
| Crown Castle, Call, 10/17/25 @ $100.00 | 214 | 2065 | (17) |
| Cytokinetics, Call, 10/17/25 @ $75.00 | 207 | 1138 | &nbsp;&nbsp;&nbsp;(4) |
| Danaher, Call, 10/17/25 @ $205.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;— |
| Danaher, Call, 10/17/25 @ $220.00 | &nbsp;&nbsp;&nbsp;68 | 1348 | &nbsp;&nbsp;&nbsp;(3) |

---

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

(Amounts in 000s, except for contracts)

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Contracts** | **Notional<br> Amount** | **$ Value** |
| DTE Energy, Call, 10/17/25 @ $140.00 | 185 | 2616 | &nbsp;&nbsp;&nbsp;(54) |
| DTE Energy, Call, 10/17/25 @ $145.00 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Duke Energy, Call, 10/17/25 @ $125.00 | 197 | 2438 | &nbsp;&nbsp;&nbsp;(24) |
| Duke Energy, Call, 10/17/25 @ $130.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Evergy, Call, 10/17/25 @ $75.00 | 183 | 1391 | &nbsp;&nbsp;&nbsp;(32) |
| Evergy, Call, 10/17/25 @ $77.50 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Exelon, Call, 10/17/25 @ $46.00 | 264 | 1188 | &nbsp;&nbsp;&nbsp;&nbsp;(8) |
| FirstEnergy, Call, 10/17/25 @ $45.00 | 528 | 2419 | &nbsp;&nbsp;&nbsp;(69) |
| FirstEnergy, Call, 10/17/25 @ $46.00 | &nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;(1) |
| FirstEnergy, Call, 10/17/25 @ $48.00 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Fortive, Call, 10/17/25 @ $50.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Fortive, Call, 10/17/25 @ $55.00 | &nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Fortive, Call, 11/21/25 @ $55.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Fortive, Call, 12/19/25 @ $55.00 | 119 | &nbsp;&nbsp;&nbsp;&nbsp;583 | &nbsp;&nbsp;&nbsp;(10) |
| General Dynamics, Call, 10/17/25 @ $340.00 | &nbsp;&nbsp;&nbsp;39 | 1330 | &nbsp;&nbsp;&nbsp;(20) |
| Gilead Sciences, Call, 10/17/25 @ $120.00 | 199 | 2209 | &nbsp;&nbsp;&nbsp;(10) |
| Hologic, Call, 10/17/25 @ $67.50 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Hologic, Call, 10/17/25 @ $70.00 | 298 | 2011 | &nbsp;&nbsp;&nbsp;(31) |
| Johnson & Johnson, Call, 10/17/25 @ $185.00 | &nbsp;&nbsp;&nbsp;74 | 1372 | &nbsp;&nbsp;&nbsp;(28) |
| Johnson & Johnson, Call, 10/17/25 @ $195.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Kroger, Call, 10/17/25 @ $70.00 | 404 | 2723 | &nbsp;&nbsp;&nbsp;(17) |
| Kroger, Call, 10/17/25 @ $72.50 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| L3Harris Technologies, Call, 10/17/25 @ $290.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp;(3) |
| L3Harris Technologies, Call, 10/17/25 @ $300.00 | &nbsp;&nbsp;&nbsp;74 | 2260 | &nbsp;&nbsp;&nbsp;(69) |
| L3Harris Technologies, Call, 10/17/25 @ $320.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Linde PLC, Call, 10/17/25 @ $500.00 | &nbsp;&nbsp;&nbsp;58 | 2755 | &nbsp;&nbsp;&nbsp;(10) |
| Lockheed Martin, Call, 10/17/25 @ $480.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;(5) |
| Lockheed Martin, Call, 10/17/25 @ $495.00 | &nbsp;&nbsp;&nbsp;54 | 2696 | &nbsp;&nbsp;&nbsp;(67) |
| Lockheed Martin, Call, 10/17/25 @ $520.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Marsh & McLennan Cos., Call, 10/17/25 @ $210.00 | 133 | 2680 | &nbsp;&nbsp;&nbsp;(25) |
| Mastercard, Call, 10/17/25 @ $605.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Mastercard, Call, 10/17/25 @ $615.00 | &nbsp;&nbsp;&nbsp;41 | 2332 | &nbsp;&nbsp;&nbsp;&nbsp;(2) |
| McDonald's, Call, 10/17/25 @ $320.00 | &nbsp;&nbsp;&nbsp;48 | 1459 | &nbsp;&nbsp;&nbsp;&nbsp;(2) |
| McKesson, Call, 10/17/25 @ $730.00 | &nbsp;&nbsp;&nbsp;24 | 1854 | (111) |
| Medtronic PLC, Call, 10/17/25 @ $97.50 | 272 | 2591 | &nbsp;&nbsp;&nbsp;(19) |
| Microsoft, Call, 10/17/25 @ $560.00 | &nbsp;&nbsp;&nbsp;26 | 1347 | &nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Mondelez International, Call, 10/17/25 @ $65.00 | &nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Mondelez International, Call, 10/17/25 @ $67.50 | 233 | 1456 | &nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Northrop Grumman, Call, 10/17/25 @ $605.00 | &nbsp;&nbsp;&nbsp;21 | 1280 | &nbsp;&nbsp;&nbsp;(31) |
| Otis Worldwide, Call, 10/17/25 @ $92.50 | 247 | 2258 | &nbsp;&nbsp;&nbsp;(24) |
| Otis Worldwide, Call, 10/17/25 @ $95.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| PepsiCo, Call, 10/17/25 @ $150.00 | 191 | 2682 | &nbsp;&nbsp;&nbsp;(15) |
| PPL, Call, 10/17/25 @ $37.00 | 466 | 1732 | &nbsp;&nbsp;&nbsp;(34) |
| PPL, Call, 10/17/25 @ $38.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| PPL, Call, 10/17/25 @ $39.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

(Amounts in 000s, except for contracts)

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Contracts** | **Notional<br> Amount** | **$ Value** |
| Procter & Gamble, Call, 10/17/25 @ $160.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;— |
| Procter & Gamble, Call, 10/17/25 @ $165.00 | 103 | 1583 | &nbsp;&nbsp;&nbsp;(2) |
| PTC, Call, 10/17/25 @ $210.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;(1) |
| PTC, Call, 10/17/25 @ $220.00 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;— |
| PTC, Call, 10/17/25 @ $230.00 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;— |
| PTC, Call, 10/17/25 @ $240.00 | &nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;(1) |
| PTC, Call, 11/21/25 @ $230.00 | &nbsp;&nbsp;&nbsp;58 | 1177 | &nbsp;&nbsp;&nbsp;(9) |
| Republic Services, Call, 10/17/25 @ $240.00 | &nbsp;&nbsp;&nbsp;93 | 2134 | &nbsp;&nbsp;&nbsp;(4) |
| Rollins, Call, 10/17/25 @ $57.50 | 298 | 1750 | (54) |
| Rollins, Call, 10/17/25 @ $60.00 | &nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;(1) |
| Roper Technologies, Call, 10/17/25 @ $550.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;— |
| Roper Technologies, Call, 11/21/25 @ $570.00 | &nbsp;&nbsp;&nbsp;32 | 1596 | &nbsp;&nbsp;&nbsp;(8) |
| S&P Global, Call, 10/17/25 @ $510.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;— |
| S&P Global, Call, 10/17/25 @ $530.00 | &nbsp;&nbsp;&nbsp;54 | 2628 | &nbsp;&nbsp;&nbsp;(2) |
| S&P Global, Call, 10/17/25 @ $570.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;— |
| SBA Communications, Call, 10/17/25 @ $200.00 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;(1) |
| SBA Communications, Call, 10/17/25 @ $210.00 | 141 | 2726 | (11) |
| Service International, Call, 10/17/25 @ $82.50 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;(1) |
| Service International, Call, 10/17/25 @ $85.00 | 255 | 2122 | (22) |
| Southern, Call, 10/17/25 @ $95.00 | 192 | 1820 | (26) |
| Southern, Call, 10/17/25 @ $97.00 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;— |
| Starbucks, Call, 10/17/25 @ $95.00 | 119 | 1007 | &nbsp;&nbsp;&nbsp;(2) |
| Steris PLC, Call, 10/17/25 @ $260.00 | &nbsp;&nbsp;&nbsp;60 | 1485 | &nbsp;&nbsp;&nbsp;(5) |
| Stryker, Call, 10/17/25 @ $400.00 | &nbsp;&nbsp;&nbsp;73 | 2699 | &nbsp;&nbsp;&nbsp;(4) |
| Stryker, Call, 10/17/25 @ $410.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;— |
| Thermo Fisher Scientific, Call, 10/17/25 @ $487.50 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;(1) |
| Thermo Fisher Scientific, Call, 10/17/25 @ $510.00 | &nbsp;&nbsp;&nbsp;54 | 2619 | (28) |
| Veralto, Call, 10/17/25 @ $115.00 | &nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;(1) |
| Veralto, Call, 12/19/25 @ $115.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;— |
| Veralto, Call, 12/19/25 @ $120.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;— |
| Visa, Call, 10/17/25 @ $355.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;— |
| Visa, Call, 10/17/25 @ $360.00 | &nbsp;&nbsp;&nbsp;80 | 2731 | &nbsp;&nbsp;&nbsp;(8) |
| Walmart, Call, 10/17/25 @ $105.00 | 157 | 1618 | (17) |
| Walmart, Call, 10/17/25 @ $110.00 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;— |
| Waste Connections, Call, 10/17/25 @ $180.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;— |
| Waste Connections, Call, 10/17/25 @ $185.00 | &nbsp;&nbsp;&nbsp;69 | 1213 | &nbsp;&nbsp;&nbsp;(2) |
| Waste Connections, Call, 10/17/25 @ $190.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;— |
| Waste Management, Call, 10/17/25 @ $230.00 | 107 | 2363 | &nbsp;&nbsp;&nbsp;(9) |
| WEC Energy Group, Call, 10/17/25 @ $115.00 | 148 | 1696 | (23) |
| WEC Energy Group, Call, 10/17/25 @ $120.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;— |
| Willis Towers Watson PLC, Call, 10/17/25 @ $340.00 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;(1) |
| Willis Towers Watson PLC, Call, 10/17/25 @ $370.00 | &nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;(1) |
| Willis Towers Watson PLC, Call, 11/21/25 @ $370.00 | &nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;795 | (12) |
| Workday, Call, 10/17/25 @ $250.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;(1) |
| Workday, Call, 10/17/25 @ $260.00 | &nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;987 | &nbsp;&nbsp;&nbsp;(4) |

---

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

(Amounts in 000s, except for contracts)

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Contracts** | **Notional<br> Amount** | **$ Value** |
| Yum! Brands, Call, 10/17/25 @ $155.00 | 146 | 2219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) |
| Yum! Brands, Call, 10/17/25 @ $160.00 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Options Written (Premiums $(804))** | **Total Options Written (Premiums $(804))** | **Total Options Written (Premiums $(804))** | **(1513)** |

---

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

#### AFFILIATED COMPANIES
($000s)

The fund may invest in certain securities that are considered affiliated companies. As defined by the 1940 Act, an affiliated company is one in which the fund owns 5% or more of the outstanding voting securities, or a company that is under common ownership or control. The following securities were considered affiliated companies for all or some portion of the period ended September 30, 2025. Net realized gain (loss), investment income, change in net unrealized gain/loss, and purchase and sales cost reflect all activity for the period then ended.

---

| | | | |
|:---|:---|:---|:---|
| **Affiliate** | **Net Realized Gain<br> (Loss)** | **Changes in Net<br> Unrealized<br> Gain/Loss** | **Investment<br> Income** |
| T. Rowe Price Government Reserve Fund | &nbsp;&nbsp;$— | $— | &nbsp;&nbsp;$15 |
| Totals | $—# | $— | $15+ |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** | **Supplementary Investment Schedule** |
| **Affiliate** | **Value<br> 12/31/24** | **Purchase<br> Cost** | **Sales<br> Cost** | **Value<br> 9/30/25** |
| T. Rowe Price Government Reserve Fund | &nbsp;&nbsp;&nbsp;&nbsp;$— | ¤ | ¤ | &nbsp;&nbsp;$396 |
|  | &nbsp;&nbsp;&nbsp;Total |  |  | $396^ |

---

---

| |
|:---|
| Capital gain distributions from mutual funds represented $0 of the net realized gain (loss). |
| Investment income comprised $15 of dividend income and $0 of interest income. |
| Purchase and sale information not shown for cash management funds. |
| The cost basis of investments in affiliated companies was $396. |

---

The accompanying notes are an integral part of this Portfolio of Investments.

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

Unaudited

#### NOTES TO PORTFOLIO OF INVESTMENTS

------

T. Rowe Price Exchange-Traded Funds, Inc. (the corporation) is registered under the Investment Company Act of 1940 (the 1940 Act). The T. Rowe Price Capital Appreciation Premium Income ETF (the fund) is an open-end management investment company established by the corporation and follows accounting and reporting guidance of the Financial Accounting Standards Board *Accounting Standards Codification* Topic 946. The accompanying Portfolio of Investments was prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). For additional information on the fund's significant accounting policies and investment related disclosures, please refer to the fund's prospectus.

#### VALUATION

#### Fair Value
The fund's financial instruments are valued at the close of the New York Stock Exchange (NYSE), normally 4 p.m. Eastern Time, each day the NYSE is open for business, and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fund's Board of Directors (the Board) has designated T. Rowe Price Associates, Inc. as the fund's valuation designee (Valuation Designee). Subject to oversight by the Board, the Valuation Designee performs the following functions in performing fair value determinations: assesses and manages valuation risks; establishes and applies fair value methodologies; tests fair value methodologies; and evaluates pricing vendors and pricing agents. The duties and responsibilities of the Valuation Designee are performed by its Valuation Committee. The Valuation Designee provides periodic reporting to the Board on valuation matters.

Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:

Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at the reporting date

Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads)

Level 3 – unobservable inputs (including the Valuation Designee's assumptions in determining fair value)

Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.

#### Valuation Techniques
Equity securities, including exchange-traded funds, listed or regularly traded on a securities exchange or in the over-the-counter (OTC) market are valued at the last quoted sale price or, for certain markets, the official closing price at the time the valuations are made. A security that is listed or traded on more than one exchange is valued at the quotation on the exchange determined to be the primary market for such security. Listed securities not traded on a particular day are valued at the mean of the closing bid and asked prices for domestic securities.

------

T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF

------

Investments in mutual funds are valued at the mutual fund's closing NAV per share on the day of valuation. Listed options, and OTC options with a listed equivalent, are valued at the mean of the closing bid and asked prices and exchange-traded options on futures contracts are valued at closing settlement prices.

Investments for which market quotations are not readily available or deemed unreliable are valued at fair value as determined in good faith by the Valuation Designee. The Valuation Designee has adopted methodologies for determining the fair value of investments for which market quotations are not readily available or deemed unreliable, including the use of other pricing sources. Factors used in determining fair value vary by type of investment and may include market or investment specific considerations. The Valuation Designee typically will afford greatest weight to actual prices in arm's length transactions, to the extent they represent orderly transactions between market participants, transaction information can be reliably obtained, and prices are deemed representative of fair value. However, the Valuation Designee may also consider other valuation methods such as market-based valuation multiples; a discount or premium from market value of a similar, freely traded security of the same issuer; discounted cash flows; yield to maturity; or some combination. Fair value determinations are reviewed on a regular basis. Because any fair value determination involves a significant amount of judgment, there is a degree of subjectivity inherent in such pricing decisions. Fair value prices determined by the Valuation Designee could differ from those of other market participants, and it is possible that the fair value determined for a security may be materially different from the value that could be realized upon the sale of that security.

#### Valuation Inputs
The following table summarizes the fund's financial instruments, based on the inputs used to determine their fair values on September 30, 2025 (for further detail by category, please refer to the accompanying Portfolio of Investments):

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total Value** |
| **Assets** |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$136539 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$136539 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396 |
| Total | &nbsp;&nbsp;$136935 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$136935 |
| **Liabilities** |  |  |  |  |
| Options Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$1513 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1513 |

---

#### OTHER MATTERS
Unpredictable environmental, political, social and economic events, including but not limited to, environmental or natural disasters, war and conflict, terrorism, geopolitical and regulatory developments (including trading and tariff arrangements), and public health epidemics or threats, may significantly affect the economy and the markets and issuers in which a fund invests. The extent and duration of such events and resulting market disruptions cannot be predicted. These and other similar events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic regions, countries, sectors, and industries more significantly than others, and exacerbate other pre-existing political, social, and economic risks. The fund's performance could be negatively impacted if the value of a portfolio holding were harmed by these or such events.

#### ETF1176-054Q3

#### 09/25

## 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 Capital Appreciation Premium Income ETF

- **b. EDGAR series identifier (if any):** S000089785

- **c. LEI of Series:** 254900YH6HK1U9EACO50

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $136612052.85

**Total Liabilities:** $2336267.76

**Net Assets:** $134275785.09

**Cash Not Reported:** $77.59

**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 C000256565 | 0.05%                | 1.08%                | 0.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-21718.15               | $-415329.91                                |
| Month 2  | $347478.19               | $-5202.64                                  |
| Month 3  | $-675137.41              | $1295827.33                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABBOTT LABORATORIES                   | ABBOTT LABORATORIES COMMON STOCK                    | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     21600 | NS      | $2893104.00   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | ABBOTT LABORATORIES OCT25 135 CALL                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -3 | NC      | $-835.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | ABBOTT LABORATORIES OCT25 140 CALL                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -213 | NC      | $-22471.50    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ABBVIE INC                            | ABBVIE INC COMMON STOCK USD.01                      | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     11202 | NS      | $2593711.08   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | ABBVIE INC OCT25 220 CALL                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-1237.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | ABBVIE INC OCT25 230 CALL                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -111 | NC      | $-48285.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY CORP                   | ALLIANT ENERGY CORP COMMON STOCK USD.01             | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |     21400 | NS      | $1442574.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | ALLIANT ENERGY CORP OCT25 67.5 CALL                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -212 | NC      | $-23850.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | ALLIANT ENERGY CORP OCT25 70 CALL                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-45.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | AMEREN CORP OCT25 105 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -158 | NC      | $-17775.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| AMEREN CORPORATION                    | AMEREN CORPORATION COMMON STOCK USD.01              | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     15844 | NS      | $1653796.72   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | AMERICAN ELECTRIC POWER CO INC OCT25 115 CALL       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -121 | NC      | $-8167.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER               | AMERICAN ELECTRIC POWER COMMON STOCK USD6.5         | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     12110 | NS      | $1362375.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | AMERICAN TOWER CORP OCT25 200 CALL                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -149 | NC      | $-16762.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                   | AMERICAN TOWER CORP REIT USD.01                     | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     14936 | NS      | $2872491.52   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| AON PLC-CLASS A                       | AON PLC CLASS A COMMON STOCK                        | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |      3734 | NS      | $1331469.72   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | AON PLC OCT25 380 CALL                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -37 | NC      | $-2867.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO               | ARTHUR J GALLAGHER + CO COMMON STOCK USD1.0         | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     10000 | NS      | $3097400.00   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | ARTHUR J GALLAGHER + CO OCT25 310 CALL              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -99 | NC      | $-66330.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | ARTHUR J GALLAGHER + CO OCT25 320 CALL              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-272.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AUTOMATIC DATA PROCESSING             | AUTOMATIC DATA PROCESSING COMMON STOCK USD.1        | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      3532 | NS      | $1036642.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | AUTOMATIC DATA PROCESSING INC OCT25 300 CALL        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -35 | NC      | $-7437.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | BECTON DICKINSON + CO DEC25 210 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-230.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | BECTON DICKINSON + CO OCT25 205 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -83 | NC      | $-4772.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | BECTON DICKINSON + CO OCT25 215 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -4 | NC      | $-430.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BECTON DICKINSON AND CO               | BECTON DICKINSON AND CO COMMON STOCK USD1.0         | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      8881 | NS      | $1662256.77   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | BOOZ ALLEN HAMILTON HOLDING CO OCT25 105 CALL       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-120.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | BOOZ ALLEN HAMILTON HOLDING CO OCT25 110 CALL       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -178 | NC      | $-6675.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON HOLDINGS          | BOOZ ALLEN HAMILTON HOLDINGS COMMON STOCK USD.01    | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     17963 | NS      | $1795401.85   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN & BROWN INC                     | BROWN + BROWN INC COMMON STOCK USD.1                | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     10900 | NS      | $1022311.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | BROWN + BROWN INC OCT25 95 CALL                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -109 | NC      | $-19075.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC                   | CARDINAL HEALTH INC COMMON STOCK                    | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     13523 | NS      | $2122570.08   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CARDINAL HEALTH INC OCT25 160 CALL                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -135 | NC      | $-27000.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS INC               | CBOE GLOBAL MARKETS INC COMMON STOCK                | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      7771 | NS      | $1905837.75   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CBOE GLOBAL MARKETS INC OCT25 240 CALL              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -76 | NC      | $-59660.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | CBOE GLOBAL MARKETS INC OCT25 250 CALL              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-257.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CENCORA INC                           | CENCORA INC COMMON STOCK USD.01                     | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      5954 | NS      | $1860803.62   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CENCORA INC OCT25 310 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -59 | NC      | $-52510.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                | CENTERPOINT ENERGY INC COMMON STOCK USD.01          | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |     49550 | NS      | $1922540.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CENTERPOINT ENERGY INC OCT25 40 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -495 | NC      | $-14850.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CHURCH & DWIGHT CO INC                | CHURCH + DWIGHT CO INC COMMON STOCK USD1.0          | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |     21900 | NS      | $1919097.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CHURCH + DWIGHT CO INC OCT25 90 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-155.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | CHURCH + DWIGHT CO INC OCT25 95 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -217 | NC      | $-10850.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CINTAS CORP                           | CINTAS CORP COMMON STOCK                            | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10400 | NS      | $2134704.00   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CINTAS CORP OCT25 210 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -104 | NC      | $-9100.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | CLOROX CO/THE OCT25 130 CALL                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -95 | NC      | $-5462.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                        | CLOROX COMPANY COMMON STOCK USD1.0                  | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |      9587 | NS      | $1182077.10   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC                         | CME GROUP INC COMMON STOCK USD.01                   | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      8982 | NS      | $2426846.58   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CME GROUP INC OCT25 270 CALL                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -88 | NC      | $-49720.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | CME GROUP INC OCT25 280 CALL                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-172.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| COLGATE-PALMOLIVE CO                  | COLGATE PALMOLIVE CO COMMON STOCK USD1.0            | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     13119 | NS      | $1048732.86   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | COLGATE-PALMOLIVE CO OCT25 85 CALL                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -131 | NC      | $-1637.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | CROWN CASTLE INC OCT25 100 CALL                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -212 | NC      | $-16430.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                      | CROWN CASTLE INC REIT USD.01                        | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     21200 | NS      | $2045588.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CYTOKINETICS INC                      | CYTOKINETICS INC COMMON STOCK USD.001               | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     20587 | NS      | $1131461.52   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CYTOKINETICS INC OCT25 75 CALL                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -205 | NC      | $-4100.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DANAHER CORP                          | DANAHER CORP COMMON STOCK USD.01                    | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      6862 | NS      | $1360460.12   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | DANAHER CORP OCT25 220 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -68 | NC      | $-2550.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | DTE ENERGY CO OCT25 140 CALL                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -185 | NC      | $-54112.50    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | DTE ENERGY CO OCT25 145 CALL                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-50.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DTE ENERGY COMPANY                    | DTE ENERGY COMPANY COMMON STOCK                     | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |     18670 | NS      | $2640498.10   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP                      | DUKE ENERGY CORP COMMON STOCK USD.001               | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     19982 | NS      | $2472772.50   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | DUKE ENERGY CORP OCT25 125 CALL                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -197 | NC      | $-23640.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | DUKE ENERGY CORP OCT25 130 CALL                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-35.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERGY INC                            | EVERGY INC COMMON STOCK                             | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     18468 | NS      | $1403937.36   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | EVERGY INC OCT25 75 CALL                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -183 | NC      | $-32025.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | EVERGY INC OCT25 77.5 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-27.50       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EXELON CORP                           | EXELON CORP COMMON STOCK                            | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     26239 | NS      | $1181017.39   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | EXELON CORP OCT25 46 CALL                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -262 | NC      | $-7860.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                      | FIRSTENERGY CORP COMMON STOCK USD.1                 | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     53789 | NS      | $2464611.98   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | FIRSTENERGY CORP OCT25 45 CALL                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -528 | NC      | $-68640.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | FIRSTENERGY CORP OCT25 46 CALL                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -9 | NC      | $-585.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FORTIVE CORP                          | FORTIVE CORP COMMON STOCK USD.01                    | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     13725 | NS      | $672387.75    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | FORTIVE CORP DEC25 55 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -119 | NC      | $-9817.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | FORTIVE CORP OCT25 50 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -4 | NC      | $-290.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | FORTIVE CORP OCT25 55 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -14 | NC      | $-210.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL DYNAMICS CORP                 | GENERAL DYNAMICS CORP COMMON STOCK USD1.0           | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      3936 | NS      | $1342176.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | GENERAL DYNAMICS CORP OCT25 340 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -39 | NC      | $-19890.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                   | GILEAD SCIENCES INC COMMON STOCK USD.001            | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     19780 | NS      | $2195580.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | GILEAD SCIENCES INC OCT25 120 CALL                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -197 | NC      | $-9850.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HOLOGIC INC                           | HOLOGIC INC COMMON STOCK USD.01                     | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |     29771 | NS      | $2009244.79   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | HOLOGIC INC OCT25 67.5 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-385.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | HOLOGIC INC OCT25 70 CALL                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -295 | NC      | $-30237.50    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                     | JOHNSON + JOHNSON COMMON STOCK USD1.0               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      7468 | NS      | $1384716.56   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | JOHNSON + JOHNSON OCT25 185 CALL                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -74 | NC      | $-27750.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| KROGER CO                             | KROGER CO COMMON STOCK USD1.0                       | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     40468 | NS      | $2727947.88   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | KROGER CO/THE OCT25 70 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -400 | NC      | $-17000.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | KROGER CO/THE OCT25 72.5 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -4 | NC      | $-46.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC             | L3HARRIS TECHNOLOGIES INC COMMON STOCK USD1.0       | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      7670 | NS      | $2342494.70   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | L3HARRIS TECHNOLOGIES INC OCT25 290 CALL            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-3340.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | L3HARRIS TECHNOLOGIES INC OCT25 300 CALL            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -74 | NC      | $-68820.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| LINDE PLC                             | LINDE PLC COMMON STOCK                              | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      5752 | NS      | $2732200.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | LINDE PLC OCT25 500 CALL                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -57 | NC      | $-9547.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                  | LOCKHEED MARTIN CORP COMMON STOCK USD1.0            | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      5651 | NS      | $2821035.71   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | LOCKHEED MARTIN CORP OCT25 480 CALL                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-4630.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | LOCKHEED MARTIN CORP OCT25 495 CALL                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -54 | NC      | $-66960.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS                  | MARSH + MCLENNAN COS COMMON STOCK USD1.0            | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     13220 | NS      | $2664226.60   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MARSH + MCLENNAN COS INC OCT25 210 CALL             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -132 | NC      | $-24420.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MASTERCARD INC - A                    | MASTERCARD INC   A COMMON STOCK USD.0001            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      4239 | NS      | $2411185.59   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MASTERCARD INC OCT25 605 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-101.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | MASTERCARD INC OCT25 615 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -41 | NC      | $-1927.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MCDONALD S CORP                       | MCDONALD S CORP COMMON STOCK USD.01                 | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      4743 | NS      | $1441350.27   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MCDONALD'S CORP OCT25 320 CALL                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -47 | NC      | $-2021.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MCKESSON CORP                         | MCKESSON CORP COMMON STOCK USD.01                   | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      2422 | NS      | $1871091.88   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MCKESSON CORP OCT25 730 CALL                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -24 | NC      | $-111360.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| MEDTRONIC PLC                         | MEDTRONIC PLC COMMON STOCK USD.1                    | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     26945 | NS      | $2566241.80   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MEDTRONIC PLC OCT25 97.5 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -269 | NC      | $-19099.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                        | MICROSOFT CORP COMMON STOCK USD.00000625            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      2624 | NS      | $1359100.80   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MICROSOFT CORP OCT25 560 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -26 | NC      | $-754.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL INC            | MONDELEZ INTERNATIONAL INC A COMMON STOCK           | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     24220 | NS      | $1513023.40   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MONDELEZ INTERNATIONAL INC OCT25 65 CALL            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -9 | NC      | $-315.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | MONDELEZ INTERNATIONAL INC OCT25 67.5 CALL          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -233 | NC      | $-1165.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                 | NORTHROP GRUMMAN CORP COMMON STOCK USD1.0           | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      2119 | NS      | $1291149.08   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | NORTHROP GRUMMAN CORP OCT25 605 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -21 | NC      | $-31080.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| OTIS WORLDWIDE CORP                   | OTIS WORLDWIDE CORP COMMON STOCK USD.01             | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     24927 | NS      | $2279075.61   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | OTIS WORLDWIDE CORP OCT25 92.5 CALL                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -247 | NC      | $-24082.50    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | OTIS WORLDWIDE CORP OCT25 95 CALL                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-60.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PEPSICO INC                           | PEPSICO INC COMMON STOCK USD.017                    | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     18972 | NS      | $2664427.68   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | PEPSICO INC OCT25 150 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -189 | NC      | $-14836.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PPL CORP                              | PPL CORP COMMON STOCK USD.01                        | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     47028 | NS      | $1747560.48   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | PPL CORP OCT25 37 CALL                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -466 | NC      | $-33785.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | PPL CORP OCT25 38 CALL                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -4 | NC      | $-110.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO/THE               | PROCTER + GAMBLE CO/THE COMMON STOCK                | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     10400 | NS      | $1597960.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | PROCTER + GAMBLE CO/THE OCT25 160 CALL              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-54.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | PROCTER + GAMBLE CO/THE OCT25 165 CALL              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -103 | NC      | $-1596.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PTC INC                               | PTC INC COMMON STOCK USD.01                         | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |      8073 | NS      | $1638980.46   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | PTC INC NOV25 230 CALL                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -58 | NC      | $-9280.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | PTC INC OCT25 210 CALL                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -4 | NC      | $-810.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | PTC INC OCT25 220 CALL                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -4 | NC      | $-330.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | PTC INC OCT25 230 CALL                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -3 | NC      | $-330.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | PTC INC OCT25 240 CALL                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -11 | NC      | $-1100.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                 | REPUBLIC SERVICES INC COMMON STOCK USD.01           | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      9284 | NS      | $2130492.32   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | REPUBLIC SERVICES INC OCT25 240 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -92 | NC      | $-4370.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROLLINS INC                           | ROLLINS INC COMMON STOCK USD1.0                     | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     30881 | NS      | $1813949.94   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | ROLLINS INC OCT25 57.5 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -298 | NC      | $-53640.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | ROLLINS INC OCT25 60 CALL                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -10 | NC      | $-500.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                | ROPER TECHNOLOGIES INC COMMON STOCK USD.01          | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      3330 | NS      | $1660637.70   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | ROPER TECHNOLOGIES INC NOV25 570 CALL               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -32 | NC      | $-7680.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | ROPER TECHNOLOGIES INC OCT25 550 CALL               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-85.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                        | S+P GLOBAL INC COMMON STOCK USD1.0                  | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      5550 | NS      | $2701240.50   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | S+P GLOBAL INC OCT25 530 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -54 | NC      | $-2295.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | S+P GLOBAL INC OCT25 570 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-57.50       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | SBA COMMUNICATIONS CORP OCT25 200 CALL              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -3 | NC      | $-615.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | SBA COMMUNICATIONS CORP OCT25 210 CALL              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -141 | NC      | $-11280.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP               | SBA COMMUNICATIONS CORP REIT USD.01                 | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     14431 | NS      | $2790233.85   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICE CORP INTERNATIONAL            | SERVICE CORP INTERNATIONAL COMMON STOCK USD1.0      | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |     25835 | NS      | $2149988.70   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | SERVICE CORP INTERNATIONAL/US OCT25 82.5 CALL       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -5 | NC      | $-762.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | SERVICE CORP INTERNATIONAL/US OCT25 85 CALL         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -253 | NC      | $-21505.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| SOUTHERN CO/THE                       | SOUTHERN CO/THE COMMON STOCK USD5.0                 | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     19376 | NS      | $1836263.52   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | SOUTHERN CO/THE OCT25 95 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -192 | NC      | $-25440.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | SOUTHERN CO/THE OCT25 97 CALL                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-52.50       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                        | STARBUCKS CORP COMMON STOCK USD.001                 | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     11807 | NS      | $998872.20    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | STARBUCKS CORP OCT25 95 CALL                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -118 | NC      | $-2006.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STERIS PLC                            | STERIS PLC COMMON STOCK USD75.0                     | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      5954 | NS      | $1473257.76   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | STERIS PLC OCT25 260 CALL                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -59 | NC      | $-4572.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STRYKER CORP                          | STRYKER CORP COMMON STOCK USD.1                     | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      7468 | NS      | $2760695.56   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | STRYKER CORP OCT25 400 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -72 | NC      | $-4140.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | STRYKER CORP OCT25 410 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-75.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund               | CUSIP: 000000000<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |    393722 | NS      | $393721.78    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC          | THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      5450 | NS      | $2643359.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | THERMO FISHER SCIENTIFIC INC OCT25 510 CALL         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -54 | NC      | $-28350.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| VERALTO CORP                          | VERALTO CORP COMMON STOCK USD.01                    | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |      9385 | NS      | $1000534.85   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | VERALTO CORP DEC25 115 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-160.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | VERALTO CORP DEC25 120 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-57.50       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | VERALTO CORP OCT25 115 CALL                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -91 | NC      | $-1137.50     | -0.00%            |  |  |  | No            |                  2 | 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        |      8174 | NS      | $2790440.12   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | VISA INC OCT25 355 CALL                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-369.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | VISA INC OCT25 360 CALL                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -79 | NC      | $-8176.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WALMART INC                           | WALMART INC COMMON STOCK USD.1                      | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     16046 | NS      | $1653700.76   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | WALMART INC OCT25 105 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -157 | NC      | $-16799.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | WALMART INC OCT25 110 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -3 | NC      | $-54.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WASTE CONNECTIONS INC                 | WASTE CONNECTIONS INC COMMON STOCK                  | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      7165 | NS      | $1259607.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | WASTE CONNECTIONS INC OCT25 185 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -69 | NC      | $-1725.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | WASTE CONNECTIONS INC OCT25 190 CALL                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-95.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                  | WASTE MANAGEMENT INC COMMON STOCK USD.01            | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     10600 | NS      | $2340798.00   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | WASTE MANAGEMENT INC OCT25 230 CALL                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -106 | NC      | $-9275.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                  | WEC ENERGY GROUP INC COMMON STOCK USD.01            | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     14835 | NS      | $1699942.65   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | WEC ENERGY GROUP INC OCT25 115 CALL                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -148 | NC      | $-22940.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| WILLIS TOWERS WATSON PLC              | WILLIS TOWERS WATSON PLC COMMON STOCK USD.000304635 | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |      3028 | NS      | $1046022.60   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | WILLIS TOWERS WATSON PLC NOV25 370 CALL             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -23 | NC      | $-11615.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | WILLIS TOWERS WATSON PLC OCT25 340 CALL             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-1035.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | WILLIS TOWERS WATSON PLC OCT25 370 CALL             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -6 | NC      | $-990.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WORKDAY INC                           | WORKDAY INC CLASS A COMMON STOCK USD.001            | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      4339 | NS      | $1044527.47   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | WORKDAY INC OCT25 250 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -2 | NC      | $-550.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | WORKDAY INC OCT25 260 CALL                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -41 | NC      | $-3792.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| YUM  BRANDS INC                       | YUM  BRANDS INC COMMON STOCK                        | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |     14734 | NS      | $2239568.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | YUM  BRANDS INC OCT25 155 CALL                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -146 | NC      | $-21900.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | YUM  BRANDS INC OCT25 160 CALL                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        -1 | NC      | $-37.50       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-05

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President