NPORT-EX 2 PIE0140PRU053126.htm
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Long-Term Investments 75.8%
Asset-Backed Securities 20.2%
Automobiles 2.7%
ARI Fleet Lease Trust,          
Series 2024-A, Class A2, 144A 5.300 % 11/15/32   1,683  $1,689,094
Series 2024-B, Class A2, 144A 5.540 04/15/33   1,723 1,730,498
Series 2025-A, Class A2, 144A 4.380 01/17/34   3,691 3,694,772
Series 2025-B, Class A2, 144A 4.590 03/15/34   6,968 6,985,733
Series 2026-B, Class A2, 144A 4.340 02/15/35   9,800 9,807,434
Avis Budget Rental Car Funding AESOP LLC,          
Series 2021-02A, Class A, 144A 1.660 02/20/28   4,500 4,440,667
Series 2022-01A, Class A, 144A 3.830 08/21/28   35,000 34,810,489
Series 2023-03A, Class A, 144A 5.440 02/22/28   20,000 20,120,692
Series 2023-07A, Class A, 144A 5.900 08/21/28   6,650 6,750,021
     
 
Capital One Prime Auto Receivables Trust,
Series 2024-01, Class A3 		4.620 07/16/29   37,078 37,225,797
Chesapeake Funding II LLC,          
Series 2023-02A, Class A1, 144A 6.160 10/15/35   1,114 1,118,148
Series 2024-01A, Class A1, 144A 5.520 05/15/36   6,527 6,583,593
Enterprise Fleet Financing LLC,          
Series 2023-02, Class A2, 144A 5.560 04/22/30   3,469 3,479,264
Series 2023-03, Class A2, 144A 6.400 03/20/30   4,392 4,426,783
Series 2024-01, Class A2, 144A 5.230 03/20/30   13,104 13,166,982
Series 2024-02, Class A3, 144A 5.610 04/20/28   11,712 11,816,554
Series 2024-03, Class A3, 144A 4.980 08/21/28   14,047 14,147,090
     
 
Ford Credit Auto Owner Trust,
Series 2021-02, Class A, 144A 		1.530 05/15/34   35,000 34,590,584
GM Financial Revolving Receivables Trust,
Series 2021-01, Class A, 144A 		1.170 06/12/34   7,034 6,978,967
GMF Floorplan Owner Revolving Trust,
Series 2024-03A, Class A1, 144A 		4.680 11/15/28   25,000 25,062,860
Hyundai Auto Lease Securitization Trust,
Series 2024-C, Class A3, 144A 		4.620 04/17/28   12,825 12,854,349
M&T Bank Auto Receivables Trust,
Series 2026-01A, Class A2, 144A 		4.330 07/16/29   33,400 33,413,961
Nissan Auto Lease Trust,
Series 2024-B, Class A3 		4.920 11/15/27   15,403 15,467,719
OneMain Direct Auto Receivables Trust,
Series 2023-01A, Class A, 144A 		5.410 11/14/29   13,477 13,561,273
Stellantis Financial Underwritten Enhanced Lease Trust,
Series 2026-AA, Class A2A, 144A 		4.210 01/22/29   28,100 28,091,983
Wheels Fleet Lease Funding LLC,          
Series 2024-02A, Class A1, 144A 4.870 06/21/39   12,158 12,231,995
Series 2025-02A, Class A1, 144A 4.410 05/18/40   41,376 41,390,896
Series 2025-03A, Class A1, 144A 4.080 09/18/40   1,810 1,800,036
Series 2026-01A, Class A2A, 144A 4.300 04/18/39   28,800 28,795,032
          436,233,266
Collateralized Loan Obligations 14.5%
720 East CLO Ltd. (Cayman Islands),
Series 2025-07A, Class A1, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) 		4.735(c) 04/20/37   50,000 49,996,690
AGL CLO Ltd. (Cayman Islands),          
Series 2021-13A, Class A1R, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 4.775(c) 10/20/34   50,000 50,037,915
Series 2022-22A, Class A1R, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) 4.865(c) 01/20/37   50,000 50,045,355
     
 
Allegany Park CLO Ltd. (Cayman Islands),
Series 2019-01A, Class ARR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 		4.775(c) 01/20/35   20,000 20,015,292
Ares CLO Ltd. (Cayman Islands),
Series 2022-65A, Class A1R, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) 		4.787(c) 07/25/34   50,000 50,031,490
1
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Asset-Backed Securities (Continued)
Collateralized Loan Obligations (cont’d.)
     
ARES CLO Ltd. (Cayman Islands),
Series 2017-44A, Class A1RR, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) 		4.803 %(c) 04/15/34   50,000  $50,040,000
Atlas Senior Loan Fund Ltd. (Cayman Islands),
Series 2021-17A, Class AR, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) 		4.735(c) 10/20/34   42,500 42,521,165
Balboa Bay Loan Funding Ltd. (Cayman Islands),          
Series 2021-02A, Class A1R, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) 4.805(c) 01/20/35   24,070 24,094,272
Series 2023-01A, Class ARR, 144A, 3 Month SOFR + 1.160% (Cap N/A, Floor 1.160%) 4.835(c) 04/20/36   40,000 40,013,292
Battalion CLO Ltd. (Cayman Islands),          
Series 2017-11A, Class AR2, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) 4.797(c) 04/24/34   49,383 49,416,929
Series 2020-18A, Class ARR, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) 4.853(c) 10/15/36   50,000 50,020,090
Series 2021-17A, Class A1RR, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) 4.690(c) 03/09/34   50,000 50,023,795
Series 2021-21A, Class AR, 144A, 3 Month SOFR + 1.150% (Cap N/A, Floor 1.150%) 4.823(c) 07/15/34   37,954 37,984,257
BlueMountain CLO Ltd. (Cayman Islands),          
Series 2018-22A, Class A1, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%) 5.015(c) 07/15/31   1,478 1,478,068
Series 2021-32A, Class AR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 4.773(c) 10/15/34   15,000 15,012,423
Canyon Capital CLO Ltd. (Cayman Islands),          
Series 2016-01A, Class AR, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 0.000%) 5.005(c) 07/15/31   2,923 2,923,295
Series 2017-01A, Class AR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) 4.935(c) 07/15/30   2,151 2,150,774
     
 
Canyon CLO Ltd. (Cayman Islands),
Series 2020-02A, Class AR2, 144A, 3 Month SOFR + 1.030% (Cap N/A, Floor 1.030%) 		4.703(c) 10/15/34   20,000 20,002,098
CarVal CLO Ltd. (Cayman Islands),
Series 2019-01A, Class AR2, 144A, 3 Month SOFR + 1.020% (Cap N/A, Floor 1.020%) 		4.695(c) 04/20/32   34,219 34,244,854
CBAM Ltd. (Cayman Islands),
Series 2018-07A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) 		5.037(c) 07/20/31   1,386 1,386,371
CIFC Funding Ltd. (Cayman Islands),
Series 2021-07A, Class AR, 144A, 3 Month SOFR + 1.090% (Cap N/A, Floor 1.090%) 		4.756(c) 01/23/35   50,000 50,027,495
Clover CLO LLC,
Series 2021-03A, Class AR, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) 		4.737(c) 01/25/35   16,000 16,005,878
Columbia Cent CLO Ltd. (Cayman Islands),
Series 2020-29A, Class A1RR, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) 		4.855(c) 10/20/34   50,000 50,019,875
CQS US CLO Ltd. (Cayman Islands),
Series 2021-01A, Class AR, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) 		4.875(c) 01/20/35   11,225 11,231,811
Elevation CLO Ltd. (Cayman Islands),
Series 2021-13A, Class A1R, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) 		4.733(c) 07/15/34   62,500 62,531,400
Galaxy CLO Ltd. (Cayman Islands),
Series 2018-25A, Class A1RR, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) 		4.777(c) 04/25/36   54,000 54,040,500
HPS Loan Management Ltd. (Cayman Islands),
Series 10A-16, Class A1R3, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) 		4.795(c) 04/20/34   50,000 50,044,700
ICG US CLO Ltd. (Cayman Islands),
Series 2020-01A, Class ARR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 		4.775(c) 01/20/35   50,000 50,021,370
Jamestown CLO Ltd. (Cayman Islands),          
Series 2016-09A, Class A1R3, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) 4.847(c) 07/25/34   50,000 50,024,175
Series 2019-14A, Class A1RR, 144A, 3 Month SOFR + 1.040% (Cap N/A, Floor 1.040%) 4.715(c) 10/20/34   40,000 40,006,152
     
 
Jefferson Mill CLO Ltd. (Cayman Islands),
Series 2015-01A, Class ARR, 144A, 3 Month SOFR + 1.230% (Cap N/A, Floor 0.000%) 		4.905(c) 10/20/31   1,427 1,427,141
Kennedy Lewis CLO Ltd. (Cayman Islands),
Series 03A, Class A1R3, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) 		4.865(c) 10/20/36   25,000 25,017,858
KKR CLO Ltd. (Cayman Islands),          
Series 2022-41A, Class A1, 144A, 3 Month SOFR + 1.330% (Cap N/A, Floor 1.330%) 5.003(c) 04/15/35   50,000 50,012,295
Series 40A, Class AR, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) 4.975(c) 10/20/34   15,000 15,014,235
LCM Ltd. (Cayman Islands),          
Series 31A, Class AR, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) 4.955(c) 07/20/34   10,000 10,010,695
Series 34A, Class A1R, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) 4.855(c) 10/20/34   40,000 40,007,248
Madison Park Funding Ltd. (Cayman Islands),          
Series 2020-45A, Class ARR, 144A, 3 Month SOFR + 1.080% (Cap N/A, Floor 1.080%) 4.753(c) 07/15/34   17,000 17,010,639
Series 2021-52A, Class AR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 4.764(c) 01/22/35   25,000 25,011,048
     
 
Marathon CLO Ltd. (Cayman Islands),
Series 2021-16A, Class A1AR, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) 		4.783(c) 04/15/34   50,000 50,031,695
2
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Asset-Backed Securities (Continued)
Collateralized Loan Obligations (cont’d.)
     
Marble Point CLO Ltd. (Cayman Islands),
Series 2021-03A, Class A1R, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) 		4.730 %(c) 10/17/34   50,000  $50,005,355
Northwoods Capital Ltd. (Cayman Islands),
Series 2018-12BA, Class AR, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) 		4.864(c) 06/15/31   4,000 4,001,229
OCP CLO Ltd. (Cayman Islands),
Series 2015-09A, Class AR3, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 		4.773(c) 01/15/37   25,000 25,004,658
Octagon Ltd. (Cayman Islands),
Series 2022-01A, Class A1R, 144A, 3 Month SOFR + 1.260% (Cap N/A, Floor 1.260%) 		4.932(c) 07/21/35   50,000 50,085,870
Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands),          
Series 2017-01A, Class A1R2, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) 4.716(c) 02/14/34   33,808 33,812,814
Series 2019-02A, Class A1RR, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) 4.723(c) 10/15/34   50,000 50,006,800
     
 
Regatta Funding Ltd. (Cayman Islands),
Series 2016-01A, Class A1R3, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) 		4.755(c) 06/20/34   50,000 50,032,660
Rockford Tower CLO Ltd. (Cayman Islands),          
Series 2019-01A, Class AR2, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 4.775(c) 04/20/34   50,000 50,032,935
Series 2020-01A, Class A1RR, 144A, 3 Month SOFR + 1.090% (Cap N/A, Floor 1.090%) 4.765(c) 01/20/36   60,500 60,527,697
     
 
Romark CLO Ltd. (Cayman Islands),
Series 2018-02A, Class A1R, 144A, 3 Month SOFR + 1.140% (Cap N/A, Floor 1.140%) 		4.807(c) 07/25/31   1,573 1,572,534
RR Ltd. (Cayman Islands),          
Series 2021-17A, Class A1AR, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) 4.743(c) 07/15/34   40,000 40,009,644
Series 2023-26A, Class A1R, 144A, 3 Month SOFR + 1.120% (Cap N/A, Floor 1.120%) 4.793(c) 04/15/38   24,000 24,002,640
     
 
Saratoga Investment Corp. CLO Ltd. (Cayman Islands),
Series 2013-01A, Class A1R4, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) 		4.975(c) 04/20/33   6,975 6,977,767
Sculptor CLO Ltd. (Cayman Islands),
Series 28A, Class AR, 144A, 3 Month SOFR + 1.060% (Cap N/A, Floor 1.060%) 		4.735(c) 01/20/35   40,000 40,010,496
Shackleton CLO Ltd. (Cayman Islands),
Series 2015-07RA, Class ARR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 		4.773(c) 07/15/31   1,453 1,453,403
Silver Rock CLO Ltd. (Cayman Islands),
Series 2021-02A, Class AR, 144A, 3 Month SOFR + 1.040% (Cap N/A, Floor 1.040%) 		4.715(c) 01/20/35   41,750 41,755,761
Sixth Street CLO Ltd. (Cayman Islands),
Series 2017-08A, Class A1R2, 144A, 3 Month SOFR + 1.150% (Cap N/A, Floor 1.150%) 		4.825(c) 10/20/34   46,500 46,550,429
Sound Point CLO Ltd. (Cayman Islands),          
Series 2014-03RA, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) 4.998(c) 10/23/31   1,282 1,281,957
Series 2018-03A, Class A1AR, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) 4.967(c) 10/26/31   5,575 5,578,180
Series 2019-01A, Class ARR, 144A, 3 Month SOFR + 1.030% (Cap N/A, Floor 1.030%) 4.705(c) 01/20/32   10,590 10,589,952
Series 2021-03AR, Class AR, 144A, 3 Month SOFR + 1.070% (Cap N/A, Floor 1.070%) 0.000(c) 10/25/34   44,500 44,500,000
     
 
Strata CLO Ltd. (Cayman Islands),
Series 2021-01A, Class AR2, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) 		4.725(c) 10/20/33   17,437 17,445,724
TCW CLO Ltd. (Cayman Islands),
Series 2020-01A, Class A1R3, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 0.000%) 		4.725(c) 04/20/34   25,000 25,010,705
Tikehau US CLO Ltd. (Bermuda),
Series 2022-02A, Class A1RR, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) 		5.095(c) 01/20/36   50,000 50,132,450
Trinitas CLO Ltd. (Cayman Islands),          
Series 2017-06A, Class AR4, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) 4.777(c) 01/25/34   49,381 49,414,786
Series 2019-11A, Class A1RR, 144A, 3 Month SOFR + 1.190% (Cap N/A, Floor 1.190%) 4.863(c) 07/15/34   50,000 50,000,000
Series 2019-11AR, Class A1R3, 144A, 3 Month SOFR + 1.050% (Cap N/A, Floor 1.050%) 4.707(c) 07/15/34   50,000 50,000,000
Series 2020-14A, Class A1R2, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) 4.767(c) 01/25/34   13,465 13,473,837
Series 2021-16A, Class A1R, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) 4.805(c) 07/20/34   33,500 33,526,700
Venture CLO Ltd. (Cayman Islands),          
Series 2017-28AA, Class A1RR, 144A, 3 Month SOFR + 1.110% (Cap N/A, Floor 1.110%) 4.785(c) 10/20/34   30,000 30,026,244
Series 2018-34A, Class AR, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) 4.953(c) 10/15/31   4,591 4,593,010
Series 2019-37A, Class A1RR, 144A, 3 Month SOFR + 1.250% (Cap N/A, Floor 1.250%) 4.923(c) 07/15/32   14,417 14,428,083
     
 
Voya CLO Ltd. (Cayman Islands),
Series 2013-03A, Class A1RR, 144A, 3 Month SOFR + 1.411% (Cap N/A, Floor 1.150%) 		5.086(c) 10/18/31   1,487 1,487,534
Wellfleet CLO Ltd. (Cayman Islands),          
Series 2021-01A, Class A1R, 144A, 3 Month SOFR + 1.180% (Cap N/A, Floor 1.180%) 4.855(c) 04/20/34   25,000 25,022,330
Series 2021-03A, Class AR, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) 4.873(c) 01/15/35   40,000 40,009,440
3
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Asset-Backed Securities (Continued)
Collateralized Loan Obligations (cont’d.)
     
 
Whitebox CLO Ltd. (Cayman Islands),
Series 2021-03A, Class A1R, 144A, 3 Month SOFR + 1.270% (Cap N/A, Floor 1.270%) 		4.943 %(c) 10/15/35   16,100  $16,114,527
          2,367,412,786
Consumer Loans 1.1%
Affirm Asset Securitization Trust,          
Series 2024-B, Class A, 144A 4.620 09/15/29   46,251 46,324,215
Series 2026-X01, Class A, 144A 4.270 04/15/31   11,800 11,802,836
     
 
Affirm Master Trust,
Series 2025-01A, Class A, 144A 		4.990 02/15/33   25,000 25,136,902
OneMain Financial Issuance Trust,
Series 2023-02A, Class A1, 144A 		5.840 09/15/36   34,900 35,364,009
SoFi Consumer Loan Program Trust,          
Series 2025-01, Class A, 144A 4.800 02/27/34   17,948 17,997,430
Series 2026-01, Class A, 144A 4.060 12/26/35   26,854 26,821,875
Series 2026-02, Class A, 144A 4.270 03/25/36   15,000 14,997,353
          178,444,620
Equipment 0.6%
Capteris Equipment Finance LLC,
Series 2026-01A, Class A2, 144A 		4.440 09/20/33   37,700 37,609,743
Dell Equipment Finance Trust,
Series 2026-01A, Class A2, 144A 		4.240 07/24/28   30,000 30,007,353
GreatAmerica Leasing Receivables Funding LLC,
Series 2026-01, Class A2, 144A 		4.470 01/16/29   9,400 9,410,666
NMEF Funding LLC,
Series 2026-A, Class A2, 144A 		4.090 02/15/34   16,650 16,607,151
Oaktree ABF Equipment ST 2026 LLC,
Series 2026-01A, Class A2, 144A 		4.500 10/17/33   11,400 11,389,823
          105,024,736
Home Equity Loans 1.3%
BRAVO Residential Funding Trust,
Series 2025-CES03, Class A1A, 144A 		5.036(cc) 12/25/55   10,209 10,146,228
COOPR Residential Mortgage Trust,          
Series 2025-CES02, Class A1A, 144A 5.502(cc) 06/25/60   13,435 13,472,177
Series 2025-CES04, Class A1A, 144A 5.040(cc) 11/25/60   9,479 9,423,377
JPMorgan Mortgage Trust,          
Series 2024-HE01, Class A1, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 0.000%) 5.125(c) 08/25/54   3,736 3,744,695
Series 2024-HE02, Class A1, 144A, 30 Day Average SOFR + 1.200% (Cap N/A, Floor 0.000%) 4.825(c) 10/20/54   4,159 4,161,691
Series 2025-HE02, Class A1, 144A, 30 Day Average SOFR + 1.250% (Cap N/A, Floor 0.000%) 4.875(c) 11/20/55   3,153 3,160,047
Series 2025-HE03, Class A1, 144A, 30 Day Average SOFR + 1.350% (Cap N/A, Floor 0.000%) 4.975(c) 03/20/56   14,161 14,235,810
Series 2026-ACES01, Class A1F, 144A, 30 Day Average SOFR + 1.200% (Cap 7.000%, Floor 0.000%) 4.812(c) 04/25/66   19,616 19,615,858
Series 2026-HE01, Class A1, 144A, 30 Day Average SOFR + 1.250% (Cap N/A, Floor 0.000%) 4.875(c) 09/20/56   35,581 35,708,364
RCKT Mortgage Trust,          
Series 2024-CES01, Class A1A, 144A 6.025(cc) 02/25/44   3,165 3,175,784
Series 2024-CES03, Class A1A, 144A 6.591(cc) 05/25/44   7,275 7,336,508
Series 2024-CES04, Class A1A, 144A 6.147(cc) 06/25/44   5,459 5,493,157
Series 2025-CES03, Class A1A, 144A 5.553(cc) 03/25/55   7,240 7,270,444
Series 2025-CES11, Class A1A, 144A 4.966(cc) 11/25/55   10,607 10,534,652
Series 2025-CES12, Class A1A, 144A 5.027(cc) 11/25/55   12,698 12,638,700
Series 2026-CES01, Class A1A, 144A 4.827(cc) 01/25/56   9,002 8,921,018
Series 2026-CES03, Class A1A, 144A 5.144(cc) 03/25/56   8,327 8,308,364
Series 2026-CES05, Class A1A, 144A 5.248(cc) 05/25/56   13,900 13,890,091
4
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Asset-Backed Securities (Continued)
Home Equity Loans (cont’d.)
     
 
Towd Point Mortgage Trust,
Series 2025-HE02, Class A1A, 144A, 30 Day Average SOFR + 1.350% (Cap N/A, Floor 1.350%) 		4.962 %(c) 09/25/65   20,438  $20,466,293
          211,703,258
     
 
Total Asset-Backed Securities
(cost $3,295,769,927) 		3,298,818,666
Certificates of Deposit 2.3%
Bank of Nova Scotia, SOFR + 0.400% (Cap N/A, Floor 0.000%) 4.020(c) 05/20/27   50,000 50,033,825
Canadian Imperial Bank of Commerce,          
SOFR + 0.340% 3.960(c) 10/19/26   58,000 58,034,446
SOFR + 0.350% (Cap N/A, Floor 0.000%) 3.970(c) 06/04/27   45,000 45,017,181
Credit Agricole Corporate & Investment Bank,          
SOFR + 0.370% 3.990(c) 10/26/26   50,000 50,038,105
SOFR + 0.810% 4.430(c) 06/07/27   10,000 10,051,007
     
 
Natixis SA, SOFR + 0.620% 4.240(c) 10/29/26   10,000 10,016,409
Nordea Bank Abp,          
SOFR + 0.320% 3.940(c) 06/29/26   30,000 30,005,913
SOFR + 0.320% 3.940(c) 07/23/26   30,000 30,010,014
SOFR + 0.400% 4.020(c) 02/19/27   40,000 40,041,806
     
 
Royal Bank of Canada, SOFR + 0.350% (Cap N/A, Floor 0.000%) 3.970(c) 12/07/26   25,000 25,014,982
Toronto-Dominion Bank (The), SOFR + 0.350% 3.970(c) 07/06/26   25,000 25,006,133
     
 
Total Certificates of Deposit
(cost $372,994,614) 		373,269,821
Commercial Mortgage-Backed Securities 9.6%
3650R Commercial Mortgage Trust,
Series 2021-PF01, Class A1 		1.122 11/15/54   777 770,873
Arbor Multifamily Mortgage Securities Trust,
Series 2021-MF02, Class ASB, 144A 		2.245 06/15/54   11,600 10,987,173
BANK,          
Series 2017-BNK04, Class A3 3.362 05/15/50   35,456 35,204,955
Series 2017-BNK05, Class A4 3.131 06/15/60   19,049 18,857,471
Series 2017-BNK06, Class A4 3.254 07/15/60   5,903 5,848,472
Series 2017-BNK07, Class A4 3.175 09/15/60   8,645 8,524,857
Series 2017-BNK08, Class A3 3.229 11/15/50   17,699 17,403,758
Series 2017-BNK09, Class A4 3.538 11/15/54   23,503 23,172,049
Series 2018-BN10, Class A5 3.688 02/15/61   28,130 27,784,350
Series 2018-BN13, Class A4 3.953 08/15/61   16,375 16,204,016
Series 2019-BN17, Class A3 3.456 04/15/52   3,666 3,560,133
Series 2019-BN18, Class A3 3.325 05/15/62   20,700 19,966,655
Series 2021-BN32, Class ASB 2.332 04/15/54   10,364 9,857,490
BANK5,          
Series 2023-05YR01, Class A2 5.779 04/15/56   873 880,922
Series 2023-05YR01, Class A3 6.260(cc) 04/15/56   18,193 18,587,433
Series 2024-05YR07, Class A3 5.769 06/15/57   39,500 40,576,533
Series 2024-05YR09, Class A3 5.614 08/15/57   12,675 12,982,227
Series 2024-05YR10, Class A3 5.302 10/15/57   9,490 9,626,769
Series 2025-05YR14, Class A3 5.646 04/15/58   15,620 16,053,177
Barclays Commercial Mortgage Securities Trust,          
Series 2023-05C23, Class A3 6.675(cc) 12/15/56   34,875 36,307,365
Series 2024-05C27, Class A3 6.014 07/15/57   27,834 28,733,216
Series 2024-05C29, Class A3 5.208 09/15/57   12,000 12,130,000
     
 
Barings Issuer LLC,
Series 2026-SBP, Class A, 144A 		4.820 02/26/59   13,908 13,751,246
Benchmark Mortgage Trust,          
Series 2018-B05, Class A2 4.077 07/15/51   522 520,530
Series 2018-B05, Class A3 3.944 07/15/51   14,150 13,987,763
5
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Commercial Mortgage-Backed Securities (Continued)
Benchmark Mortgage Trust, (cont’d.)          
Series 2023-V02, Class A3 5.812 %(cc) 05/15/55   16,857  $17,152,827
Series 2023-V03, Class A3 6.363(cc) 07/15/56   16,734 17,216,031
Series 2024-V08, Class A3 6.189(cc) 07/15/57   16,100 16,712,843
BMO Mortgage Trust,          
Series 2023-05C2, Class A3 7.055(cc) 11/15/56   21,175 22,193,316
Series 2024-05C5, Class A3 5.857 02/15/57   31,000 31,918,642
Series 2024-05C6, Class A3 5.316 09/15/57   13,330 13,518,647
BX Commercial Mortgage Trust,          
Series 2021-ACNT, Class A, 144A, 1 Month SOFR + 0.964% (Cap N/A, Floor 0.850%) 4.591(c) 11/15/38   69,576 69,616,131
Series 2022-AHP, Class A, 144A, 1 Month SOFR + 0.990% (Cap N/A, Floor 0.990%) 4.617(c) 01/17/39   49,835 49,819,775
BX Trust,          
Series 2021-LGCY, Class A, 144A, 1 Month SOFR + 0.620% (Cap N/A, Floor 0.506%) 4.247(c) 10/15/36   9,925 9,922,354
Series 2022-LBA06, Class A, 144A, 1 Month SOFR + 1.000% (Cap N/A, Floor 1.000%) 4.627(c) 01/15/39   83,514 83,487,902
Series 2024-FNX, Class A, 144A, 1 Month SOFR + 1.442% (Cap N/A, Floor 1.442%) 5.069(c) 11/15/41   35,643 35,676,825
CD Mortgage Trust,          
Series 2016-CD02, Class A3 3.248 11/10/49   1,724 1,719,154
Series 2017-CD03, Class A3 3.356 02/10/50   4,712 4,690,509
Series 2017-CD04, Class A3 3.248 05/10/50   14,005 13,925,803
Series 2017-CD06, Class A4 3.190 11/13/50   9,514 9,401,421
Series 2018-CD07, Class A3 4.013 08/15/51   12,493 12,344,134
     
 
CGMS Commercial Mortgage Trust,
Series 2017-B01, Class A3 		3.197 08/15/50   1,406 1,389,206
Citigroup Commercial Mortgage Trust,          
Series 2015-GC31, Class A4 3.762 06/10/48   1,383 1,358,400
Series 2016-C03, Class A4 3.154 11/15/49   15,933 15,842,082
Series 2016-P06, Class A4 3.458 12/10/49   22,001 21,932,753
Series 2017-C04, Class A3 3.209 10/12/50   6,400 6,312,910
Series 2017-P07, Class A3 3.442 04/14/50   7,559 7,514,934
Series 2017-P08, Class A3 3.203 09/15/50   29,353 28,988,025
Series 2018-B02, Class A3 3.744 03/10/51   6,010 5,945,232
Series 2020-GC46, Class AAB 2.614 02/15/53   10,567 10,179,468
Commercial Mortgage Trust,          
Series 2012-CR04, Class A3 2.853 10/15/45   90 87,452
Series 2016-COR01, Class A4 3.091 10/10/49   11,000 10,937,643
Series 2018-COR03, Class A2 3.961 05/10/51   1,590 1,573,893
Series 2019-GC44, Class A2 2.827 08/15/57   12,896 12,659,602
CSAIL Commercial Mortgage Trust,          
Series 2017-C08, Class A3 3.127 06/15/50   11,367 11,228,530
Series 2018-CX11, Class A5 4.033(cc) 04/15/51   8,501 8,435,732
     
 
Deutsche Bank Commercial Mortgage Trust,
Series 2016-C03, Class A5 		2.890 08/10/49   4,267 4,258,842
GS Mortgage Securities Trust,          
Series 2016-GS02, Class A4 3.050 05/10/49   714 712,907
Series 2016-GS03, Class A3 2.592 10/10/49   13,124 13,096,717
Series 2016-GS03, Class A4 2.850 10/10/49   11,040 10,994,453
Series 2016-GS04, Class A3 3.178 11/10/49   12,277 12,260,640
Series 2016-GS04, Class A4 3.442(cc) 11/10/49   23,515 23,422,758
Series 2017-GS06, Class A2 3.164 05/10/50   14,449 14,328,354
Series 2017-GS07, Class A3 3.167 08/10/50   32,020 31,661,366
Series 2018-GS09, Class A4 3.992(cc) 03/10/51   12,005 11,886,433
Series 2019-GC38, Class AAB 3.835 02/10/52   1,023 1,015,928
     
 
JPMBB Commercial Mortgage Securities Trust,
Series 2014-C24, Class A5 		3.639 11/15/47   648 633,158
JPMDB Commercial Mortgage Securities Trust,          
Series 2016-C04, Class A2 2.882 12/15/49   1,414 1,411,189
Series 2017-C07, Class A4 3.147 10/15/50   44,777 44,165,602
Series 2018-C08, Class A3 3.944 06/15/51   4,277 4,226,405
JPMorgan Chase Commercial Mortgage Securities Trust,          
Series 2015-JP01, Class A5 3.914 01/15/49   872 860,388
Series 2016-JP04, Class A3 3.393 12/15/49   32,495 32,378,226
6
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Commercial Mortgage-Backed Securities (Continued)
     
 
Ladder Capital Commercial Mortgage Securities Trust,
Series 2017-LC26, Class A4, 144A 		3.551 % 07/12/50   2,960  $2,928,212
Morgan Stanley Bank of America Merrill Lynch Trust,          
Series 2016-C30, Class A5 2.860 09/15/49   8,851 8,801,267
Series 2016-C31, Class A4 2.840 11/15/49   2,688 2,680,305
Series 2017-C33, Class A4 3.337 05/15/50   17,000 16,865,984
Series 2017-C33, Class A5 3.599 05/15/50   17,840 17,715,070
Series 2017-C34, Class A3 3.276 11/15/52   28,650 28,292,133
Series 2025-05C1, Class A3 5.635 03/15/58   13,632 14,002,230
     
 
Morgan Stanley Capital I,
Series 2017-HR02, Class A4 		3.587 12/15/50   8,470 8,350,713
Morgan Stanley Capital I Trust,          
Series 2016-BNK02, Class A3 2.791 11/15/49   30,757 30,583,101
Series 2016-UB11, Class A4 2.782 08/15/49   34,472 34,326,259
Series 2018-H03, Class A5 4.177 07/15/51   7,745 7,686,155
Series 2018-H04, Class A4 4.310 12/15/51   13,526 13,360,435
Series 2018-L01, Class A4 4.407(cc) 10/15/51   11,640 11,574,147
Series 2018-L01, Class ASB 4.238(cc) 10/15/51   1,693 1,691,156
     
 
NJ Trust,
Series 2023-GSP, Class A, 144A 		6.481(cc) 01/06/29   8,530 8,776,890
Santander Commercial Mortgage Securities LLC,
Series 2025-BNC01, Class A2, 144A 		4.502 12/15/57   22,501 22,377,062
SREIT Trust,
Series 2021-MFP02, Class A, 144A, 1 Month SOFR + 0.936% (Cap N/A, Floor 0.822%)(x) 		4.563(c) 11/15/36   25,130 25,122,147
UBS Commercial Mortgage Trust,          
Series 2017-C04, Class A3 3.301 10/15/50   12,742 12,585,485
Series 2017-C05, Class A4 3.212 11/15/50   5,569 5,484,739
Wells Fargo Commercial Mortgage Trust,          
Series 2016-C36, Class A3 2.807 11/15/59   5,818 5,792,381
Series 2016-NXS06, Class A4 2.918 11/15/49   2,390 2,383,548
Series 2017-C38, Class A4 3.190 07/15/50   14,452 14,293,727
Series 2017-C40, Class A3 3.317 10/15/50   10,307 10,195,399
Series 2017-C41, Class A3 3.210 11/15/50   815 802,155
Series 2018-C45, Class A3 3.920 06/15/51   23,046 22,752,745
Series 2021-C61, Class ASB 2.525 11/15/54   13,830 13,102,956
Series 2024-01CHI, Class A, 144A 5.307(cc) 07/15/35   7,544 7,564,350
Series 2024-05C1, Class A3 5.928 07/15/57   58,870 60,625,068
     
 
Total Commercial Mortgage-Backed Securities
(cost $1,571,301,021) 		1,574,010,794
Corporate Bonds 38.4%
Aerospace & Defense 0.5%
BAE Systems PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A 		5.000 03/26/27   10,290 10,356,815
General Dynamics Corp.,
Gtd. Notes 		2.625 11/15/27   5,120 5,020,722
Howmet Aerospace, Inc.,          
Sr. Unsec’d. Notes 3.750 03/03/28   14,400 14,235,384
Sr. Unsec’d. Notes 3.900 04/15/29   6,200 6,103,013
RTX Corp.,          
Sr. Unsec’d. Notes 3.500 03/15/27   12,000 11,943,817
Sr. Unsec’d. Notes 5.750 11/08/26   40,000 40,225,152
          87,884,903
Agriculture 0.8%
Bunge Ltd. Finance Corp.,
Gtd. Notes 		4.100 01/07/28   6,000 5,973,878
7
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Agriculture (cont’d.)
Cargill, Inc.,
Sr. Unsec’d. Notes, 144A 		4.625 % 02/11/28   45,700  $45,966,196
Philip Morris International, Inc.,          
Sr. Unsec’d. Notes 3.875 10/27/28   35,000 34,628,985
Sr. Unsec’d. Notes 4.125 04/28/28   30,000 29,863,221
Sr. Unsec’d. Notes 4.750 02/12/27   10,000 10,045,335
          126,477,615
Auto Manufacturers 4.9%
American Honda Finance Corp.,          
Sr. Unsec’d. Notes, MTN, SOFR + 0.620% (Cap N/A, Floor 0.000%) 4.258(c) 12/11/26   35,000 34,983,052
Sr. Unsec’d. Notes, MTN, SOFR + 0.730% (Cap N/A, Floor 0.000%) 4.369(c) 03/08/27   35,000 35,007,475
Sr. Unsec’d. Notes, MTN, SOFR + 0.820% 4.464(c) 03/03/28   5,000 5,002,146
BMW US Capital LLC (Germany),          
Gtd. Notes, 144A 4.150 08/11/27   16,000 15,970,406
Gtd. Notes, 144A 4.400 03/19/29   22,000 21,953,976
Gtd. Notes, 144A, SOFR + 0.790% 4.421(c) 03/17/28   16,500 16,545,746
Gtd. Notes, 144A 4.650 03/19/27   18,900 18,990,384
Gtd. Notes, 144A 4.750 03/21/28   29,800 29,951,527
Daimler Truck Finance North America LLC (Germany),          
Gtd. Notes, 144A 4.300 08/12/27   11,200 11,193,432
Gtd. Notes, 144A, SOFR + 0.840% 4.470(c) 01/13/28   16,600 16,609,032
Gtd. Notes, 144A, SOFR + 0.960% 4.594(c) 09/25/27   24,000 24,057,291
Gtd. Notes, 144A 5.000 01/15/27   9,070 9,118,335
General Motors Financial Co., Inc.,          
Sr. Unsec’d. Notes 4.200 10/27/28   20,000 19,842,946
Sr. Unsec’d. Notes, SOFR Index + 1.050% 4.681(c) 07/15/27   30,000 30,055,630
Sr. Unsec’d. Notes, SOFR Index + 1.170% 4.802(c) 04/04/28   17,500 17,566,070
Sr. Unsec’d. Notes 5.000 04/09/27   9,334 9,384,631
Sr. Unsec’d. Notes 5.000 07/15/27   4,660 4,690,809
Sr. Unsec’d. Notes 5.050 04/04/28   17,500 17,645,937
Sr. Unsec’d. Notes 5.400 05/08/27   19,875 20,079,564
Hyundai Capital America,          
Sr. Unsec’d. Notes, 144A, SOFR + 1.030% 4.665(c) 09/24/27   9,170 9,203,755
Sr. Unsec’d. Notes, 144A, SOFR + 1.040% 4.675(c) 03/19/27   16,670 16,727,355
Sr. Unsec’d. Notes, 144A, SOFR + 1.040% 4.675(c) 06/24/27   40,000 40,137,762
Sr. Unsec’d. Notes, 144A 4.850 03/25/27   14,400 14,448,379
Sr. Unsec’d. Notes, 144A 4.875 11/01/27   5,000 5,021,615
Mercedes-Benz Finance North America LLC (Germany),          
Gtd. Notes, 144A, SOFR + 0.630% 4.258(c) 07/31/26   13,000 13,008,173
Gtd. Notes, 144A, SOFR + 0.780% (Cap N/A, Floor 0.000%) 4.413(c) 04/01/27   15,000 15,039,972
Gtd. Notes, 144A, SOFR + 0.850% 4.476(c) 11/15/27   15,000 15,056,457
     
 
PACCAR Financial Corp.,
Sr. Unsec’d. Notes 		4.550 03/03/28   50,000 50,330,093
Toyota Motor Credit Corp.,          
Sr. Unsec’d. Notes, SOFR + 0.770% 4.394(c) 08/07/26   6,000 6,005,361
Sr. Unsec’d. Notes, MTN 3.750 01/12/28   42,000 41,741,607
Sr. Unsec’d. Notes, MTN 4.050 03/13/29   21,200 21,032,586
Sr. Unsec’d. Notes, MTN, SOFR Index + 0.450% 4.080(c) 01/12/28   20,000 20,015,433
Sr. Unsec’d. Notes, MTN 4.250 05/12/28   50,000 50,108,863
Sr. Unsec’d. Notes, MTN, SOFR Index + 0.650% 4.287(c) 03/13/29   27,500 27,544,993
Volkswagen Group of America Finance LLC (Germany),          
Gtd. Notes, 144A 4.450 09/11/27   12,500 12,475,289
Gtd. Notes, 144A 4.950 03/25/27   8,300 8,341,940
Gtd. Notes, 144A 5.050 03/27/28   16,700 16,803,258
Gtd. Notes, 144A 6.000 11/16/26   50,000 50,383,700
          792,074,980
8
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Banks 9.1%
ABN AMRO Bank NV (Netherlands),
Sr. Preferred Notes, 144A 		4.718 % 01/22/27   93,000  $93,258,614
Australia & New Zealand Banking Group Ltd. (Australia),
Sr. Unsec’d. Notes, 144A, SOFR + 0.810% 		4.439(c) 01/18/27   33,600 33,703,733
Bank of America Corp.,
Sr. Unsec’d. Notes, MTN 		3.824(ff) 01/20/28   32,738 32,631,482
Bank of Montreal (Canada),
Sr. Unsec’d. Notes, MTN 		2.650 03/08/27   45,766 45,257,965
Bank of Nova Scotia (The) (Canada),          
Sr. Unsec’d. Notes 2.951 03/11/27   10,282 10,185,197
Sr. Unsec’d. Notes, GMTN, SOFR Index + 0.780% 4.421(c) 06/04/27   30,000 30,107,274
     
 
Banque Federative du Credit Mutuel SA (France),
Sr. Preferred Notes, 144A, SOFR + 1.130% 		4.758(c) 01/23/27   10,890 10,950,384
BPCE SA (France),
Sr. Preferred Notes, 144A 		4.750 07/19/27   15,000 15,049,100
Citibank NA,
Sr. Unsec’d. Notes 		4.576 05/29/27   10,000 10,050,211
Citigroup, Inc.,
Sr. Unsec’d. Notes 		3.887(ff) 01/10/28   10,000 9,969,281
Commonwealth Bank of Australia (Australia),          
Sr. Unsec’d. Notes 4.423 03/14/28   17,400 17,455,849
Sr. Unsec’d. Notes, 144A, MTN, SOFR + 0.640% 4.277(c) 03/14/28   20,700 20,771,711
Cooperatieve Rabobank UA (Netherlands),          
Sr. Preferred Notes 3.957 10/17/28   22,500 22,303,411
Sr. Preferred Notes, SOFR + 0.590% 4.221(c) 10/17/28   22,500 22,535,631
Sr. Preferred Notes, SOFR Index + 0.620% 4.257(c) 08/28/26   12,920 12,929,954
Sr. Preferred Notes, SOFR Index + 0.650% 4.283(c) 04/01/29   32,000 32,073,872
Sr. Preferred Notes 4.322 04/01/29   32,000 32,009,859
Sr. Preferred Notes, SOFR Index + 0.710% 4.350(c) 03/05/27   15,000 15,038,195
     
 
Depository Trust Co. (The),
Sr. Unsec’d. Notes, 144A 		4.300 03/27/29   12,000 11,955,859
Federation des Caisses Desjardins du Quebec (Canada),          
Sr. Unsec’d. Notes, 144A 4.505 05/26/28   50,000 50,000,000
Sr. Unsec’d. Notes, 144A, MTN, SOFR + 0.630% 4.257(c) 01/27/27   83,000 83,172,814
Goldman Sachs Group, Inc. (The),          
Sr. Unsec’d. Notes 2.640(ff) 02/24/28   28,067 27,710,388
Sr. Unsec’d. Notes 3.615(ff) 03/15/28   50,000 49,684,912
JPMorgan Chase & Co.,          
Sr. Unsec’d. Notes 5.040(ff) 01/23/28   36,355 36,524,977
Sr. Unsec’d. Notes 5.571(ff) 04/22/28   50,000 50,532,577
     
 
Morgan Stanley,
Sr. Unsec’d. Notes, MTN 		5.652(ff) 04/13/28   50,000 50,528,747
Morgan Stanley Bank NA,
Sr. Unsec’d. Notes, SOFR + 0.685% 		4.316(c) 10/15/27   30,420 30,440,322
National Australia Bank Ltd. (Australia),          
Sr. Unsec’d. Notes, 144A, SOFR + 0.600% 4.227(c) 10/26/27   20,000 20,046,498
Sr. Unsec’d. Notes, 144A, MTN, SOFR + 0.500% 4.140(c) 03/06/28   25,000 25,021,300
     
 
National Bank of Canada (Canada),
Sr. Unsec’d. Notes, MTN, SOFR + 0.670% (Cap N/A, Floor 0.000%) 		4.300(c) 10/06/27   45,000 45,040,082
National Securities Clearing Corp.,          
Sr. Unsec’d. Notes, 144A, SOFR + 0.570% 4.199(c) 05/20/27   9,450 9,470,014
Sr. Unsec’d. Notes, 144A 4.350 05/20/27   29,250 29,345,155
     
 
NatWest Group PLC (United Kingdom),
Sr. Unsec’d. Notes 		1.642(ff) 06/14/27   52,711 52,658,758
NatWest Markets PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A 		4.174 11/06/28   63,300 62,790,460
Nordea Bank Abp (Finland),          
Sr. Preferred Notes, 144A, SOFR + 0.740% 4.375(c) 03/19/27   5,556 5,571,390
Sr. Preferred Notes, 144A, MTN, SOFR + 0.600% 4.230(c) 05/21/29   24,000 24,068,487
9
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Banks (cont’d.)
Nordea Bank Abp (Finland), (cont’d.)          
Sr. Preferred Notes, 144A, MTN, SOFR + 0.700% 4.337 %(c) 03/17/28   20,000  $20,081,396
Sr. Preferred Notes, 144A, MTN 4.375 03/17/28   24,750 24,792,543
Sr. Preferred Notes, 144A, MTN 4.400 05/21/29   14,400 14,391,936
     
 
Royal Bank of Canada (Canada),
Sr. Unsec’d. Notes, GMTN, SOFR Index + 0.950% 		4.579(c) 01/19/27   20,000 20,069,758
Skandinaviska Enskilda Banken AB (Sweden),          
Sr. Preferred Notes, 144A 4.375 06/02/28   35,000 35,005,933
Sr. Preferred Notes, 144A, SOFR Index + 0.750% 4.394(c) 06/02/28   13,500 13,564,203
State Street Corp.,          
Sr. Unsec’d. Notes 4.536 02/28/28   43,400 43,657,035
Sr. Unsec’d. Notes 4.993 03/18/27   22,500 22,649,133
     
 
Svenska Handelsbanken AB (Sweden),
Sr. Preferred Notes, 144A 		4.375 05/23/28   14,000 14,013,325
Toronto-Dominion Bank (The) (Canada),          
Sr. Unsec’d. Notes 4.109 10/13/28   17,500 17,348,770
Sr. Unsec’d. Notes, SOFR + 0.750% 4.380(c) 10/13/28   17,500 17,511,527
Sr. Unsec’d. Notes, MTN 2.800 03/10/27   25,000 24,740,875
Sr. Unsec’d. Notes, MTN, SOFR + 0.910% 4.554(c) 06/02/28   7,500 7,543,607
Sr. Unsec’d. Notes, MTN 4.574 06/02/28   22,500 22,541,762
Wells Fargo & Co.,          
Sr. Unsec’d. Notes, MTN 2.393(ff) 06/02/28   11,890 11,661,735
Sr. Unsec’d. Notes, MTN 3.526(ff) 03/24/28   7,312 7,260,463
Sr. Unsec’d. Notes, MTN 5.707(ff) 04/22/28   14,282 14,442,167
     
 
Westpac Banking Corp. (Australia),
Sr. Unsec’d. Notes, 144A, SOFR + 0.500% 		4.140(c) 03/06/28   25,000 25,017,025
          1,487,137,656
Beverages 0.6%
Diageo Capital PLC (United Kingdom),
Gtd. Notes 		5.300 10/24/27   15,619 15,839,069
Keurig Dr. Pepper, Inc.,          
Gtd. Notes 4.350 05/15/28   20,000 19,944,116
Gtd. Notes, SOFR Index + 0.880% 4.517(c) 03/15/27   26,000 26,029,072
     
 
Molson Coors Beverage Co.,
Gtd. Notes 		3.000 07/15/26   7,000 6,987,274
PepsiCo, Inc.,
Sr. Unsec’d. Notes 		5.125 11/10/26   26,000 26,103,834
          94,903,365
Building Materials 0.1%
Owens Corning,
Sr. Unsec’d. Notes 		5.500 06/15/27   7,976 8,075,151
Vulcan Materials Co.,
Sr. Unsec’d. Notes 		3.900 04/01/27   6,000 5,987,302
          14,062,453
Chemicals 0.7%
Air Products & Chemicals, Inc.,
Sr. Unsec’d. Notes 		4.300 06/11/28   37,760 37,782,359
Nutrien Ltd. (Canada),          
Sr. Unsec’d. Notes 4.500 03/12/27   50,000 50,105,050
Sr. Unsec’d. Notes 5.200 06/21/27   20,000 20,195,238
          108,082,647
10
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Commercial Services 0.1%
Equifax, Inc.,
Sr. Unsec’d. Notes 		3.250 % 06/01/26   7,600  $7,600,000
Computers 0.3%
Accenture Capital, Inc.,
Gtd. Notes 		3.900 10/04/27   22,940 22,884,686
International Business Machines Corp.,
Sr. Unsec’d. Notes 		4.000 02/03/29   30,000 29,694,746
          52,579,432
Cosmetics/Personal Care 0.1%
Unilever Capital Corp. (United Kingdom),
Gtd. Notes 		4.250 08/12/27   13,650 13,675,306
Diversified Financial Services 1.5%
American Express Co.,          
Sr. Unsec’d. Notes 2.550 03/04/27   35,000 34,621,889
Sr. Unsec’d. Notes, SOFR + 0.590% 4.214(c) 02/09/29   24,500 24,513,769
Sr. Unsec’d. Notes 5.389(ff) 07/28/27   41,656 41,728,943
     
 
Capital One Financial Corp.,
Sr. Unsec’d. Notes 		3.750 03/09/27   55,000 54,813,124
Intercontinental Exchange, Inc.,
Sr. Unsec’d. Notes 		3.950 12/01/28   12,900 12,770,070
Jefferies Financial Group, Inc.,          
Sr. Unsec’d. Notes, MTN 4.300 02/11/27   30,000 29,976,551
Sr. Unsec’d. Notes, MTN 4.500 09/15/26   46,000 45,984,616
     
 
LSEG US Fin Corp. (United Kingdom),
Gtd. Notes, 144A 		4.875 03/28/27   7,140 7,179,025
          251,587,987
Electric 1.5%
Alliant Energy Finance LLC,
Gtd. Notes, 144A 		5.400 06/06/27   10,710 10,802,286
Constellation Energy Generation LLC,          
Sr. Unsec’d. Notes 3.900 01/08/28   21,500 21,324,174
Sr. Unsec’d. Notes, SOFR + 0.600% 4.230(c) 01/08/28   8,600 8,595,634
     
 
DTE Electric Co.,
General Ref. Mortgage 		4.850 12/01/26   42,750 42,924,728
DTE Energy Co.,
Sr. Unsec’d. Notes 		4.950 07/01/27   14,625 14,716,953
Duke Energy Corp.,
Sr. Unsec’d. Notes 		4.850 01/05/27   9,333 9,365,593
Duke Energy Progress LLC,
First Mortgage 		4.350 03/06/27   30,000 30,077,887
Georgia Power Co.,          
Sr. Unsec’d. Notes 4.000 10/01/28   21,000 20,856,029
Sr. Unsec’d. Notes 5.004 02/23/27   10,680 10,738,758
NextEra Energy Capital Holdings, Inc.,          
Gtd. Notes, SOFR Index + 0.800% 4.425(c) 02/04/28   11,000 11,033,390
Gtd. Notes 4.685 09/01/27   20,000 20,090,998
Gtd. Notes 4.850 02/04/28   11,000 11,095,135
     
 
Southern California Edison Co.,
First Mortgage 		4.400 09/06/26   18,000 17,994,659
Virginia Electric & Power Co.,
Sr. Unsec’d. Notes, Series B 		2.950 11/15/26   19,306 19,197,368
          248,813,592
11
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Electronics 0.8%
Amphenol Corp.,          
Sr. Unsec’d. Notes 3.800 % 11/15/27   25,600  $25,438,454
Sr. Unsec’d. Notes 3.900 11/15/28   12,800 12,677,393
Sr. Unsec’d. Notes 4.375 06/12/28   36,000 36,048,220
Sr. Unsec’d. Notes 5.050 04/05/27   29,290 29,521,216
     
 
Fortive Corp.,
Sr. Unsec’d. Notes 		3.150 06/15/26   25,000 24,987,653
          128,672,936
Foods 1.0%
Hershey Co. (The),
Sr. Unsec’d. Notes 		4.550 02/24/28   12,000 12,074,836
Mars, Inc.,          
Sr. Unsec’d. Notes, 144A 4.450 03/01/27   30,000 30,111,757
Sr. Unsec’d. Notes, 144A 4.600 03/01/28   40,000 40,193,928
     
 
McCormick & Co., Inc.,
Sr. Unsec’d. Notes 		4.150 02/15/29   10,300 10,201,567
Mondelez International, Inc.,          
Sr. Unsec’d. Notes 2.625 03/17/27   13,909 13,747,079
Sr. Unsec’d. Notes 4.250 05/06/28   47,700 47,564,928
     
 
Sysco Corp.,
Gtd. Notes 		3.300 07/15/26   14,000 13,980,694
          167,874,789
Forest Products & Paper 0.2%
Georgia-Pacific LLC,          
Sr. Unsec’d. Notes, 144A 4.400 06/30/28   6,000 5,993,021
Sr. Unsec’d. Notes, 144A 4.400 05/15/29   21,700 21,618,840
          27,611,861
Healthcare-Products 0.5%
Agilent Technologies, Inc.,
Sr. Unsec’d. Notes 		4.200 09/09/27   20,800 20,752,427
Smith & Nephew PLC (United Kingdom),
Sr. Unsec’d. Notes 		5.150 03/20/27   6,133 6,149,271
Stryker Corp.,          
Sr. Unsec’d. Notes 4.550 02/10/27   30,000 30,060,851
Sr. Unsec’d. Notes 4.700 02/10/28   22,500 22,626,251
          79,588,800
Healthcare-Services 0.5%
Quest Diagnostics, Inc.,
Sr. Unsec’d. Notes 		4.600 12/15/27   7,400 7,431,558
Roche Holdings, Inc.,
Gtd. Notes, 144A 		5.265 11/13/26   60,000 60,270,567
UnitedHealth Group, Inc.,
Sr. Unsec’d. Notes 		4.400 06/15/28   10,000 10,012,454
          77,714,579
Insurance 2.6%
Arthur J Gallagher & Co.,
Sr. Unsec’d. Notes 		4.600 12/15/27   23,606 23,644,626
Corebridge Global Funding,          
Sec’d. Notes, 144A 4.650 08/20/27   25,000 25,006,390
Sr. Sec’d. Notes, 144A, SOFR + 1.300% (Cap N/A, Floor 0.000%) 4.934(c) 09/25/26   30,000 30,069,338
12
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Insurance (cont’d.)
Corebridge Global Funding, (cont’d.)          
Sr. Sec’d. Notes, 144A, MTN 4.250 % 08/21/28   18,200   $18,066,587
     
 
Marsh & McLennan Cos., Inc.,
Sr. Unsec’d. Notes, SOFR Index + 0.700% 		4.324(c) 11/08/27   9,110 9,142,833
Metropolitan Life Global Funding I,          
Sec’d. Notes, 144A 4.150 08/25/28   15,000 14,915,698
Sec’d. Notes, 144A, MTN, SOFR Index + 0.700% 4.338(c) 06/11/27   19,000 19,038,141
New York Life Global Funding,          
Sr. Sec’d. Notes, 144A, SOFR + 0.550% 4.188(c) 06/11/27   40,000 40,069,675
Sr. Sec’d. Notes, 144A, MTN, SOFR + 0.670% 4.303(c) 04/02/27   55,000 55,097,398
Pacific Life Global Funding II,          
Sec’d. Notes, 144A, SOFR + 0.480% 4.105(c) 02/04/27   30,000 30,022,178
Sr. Sec’d. Notes, 144A, SOFR + 0.750% (Cap N/A, Floor 0.000%) 4.380(c) 07/10/28   35,000 35,108,731
Principal Life Global Funding II,          
Sec’d. Notes, 144A 4.600 08/19/27   25,000 25,067,959
Sr. Sec’d. Notes, 144A 5.000 01/16/27   7,714 7,749,261
Protective Life Global Funding,          
Sec’d. Notes, 144A 4.335 09/13/27   20,000 19,966,027
Sec’d. Notes, 144A, SOFR + 0.850% (Cap N/A, Floor 0.000%) 4.488(c) 09/11/28   50,000 50,115,160
Sec’d. Notes, 144A 4.992 01/12/27   19,000 19,087,265
          422,167,267
Internet 1.4%
Airbnb, Inc.,
Sr. Unsec’d. Notes 		4.400 03/16/29   14,200 14,173,215
Alphabet, Inc.,          
Sr. Unsec’d. Notes 3.700 02/15/29   31,300 30,880,064
Sr. Unsec’d. Notes 3.875 11/15/28   17,300 17,198,030
Amazon.com, Inc.,          
Sr. Unsec’d. Notes 3.850 03/13/28   40,000 39,827,075
Sr. Unsec’d. Notes 3.900 11/20/28   30,000 29,785,355
Sr. Unsec’d. Notes 4.000 03/13/29   40,000 39,708,794
     
 
Netflix, Inc.,
Sr. Unsec’d. Notes 		4.875 04/15/28   50,150 50,723,712
          222,296,245
Machinery-Diversified 0.5%
CNH Industrial Capital LLC,          
Gtd. Notes 4.500 10/08/27   10,500 10,502,944
Gtd. Notes 4.750 03/21/28   15,750 15,800,600
     
 
John Deere Capital Corp.,
Sr. Unsec’d. Notes, MTN, SOFR + 0.600% 		4.240(c) 06/11/27   11,635 11,665,501
Otis Worldwide Corp.,
Sr. Unsec’d. Notes 		4.488 05/07/29   43,300 43,299,209
          81,268,254
Media 0.3%
Comcast Corp.,
Gtd. Notes 		2.350 01/15/27   55,609 55,028,794
Mining 0.3%
Glencore Funding LLC (Australia),          
Gtd. Notes, 144A, SOFR Index + 0.750% 4.383(c) 10/01/26   20,000 20,005,579
Gtd. Notes, 144A 4.907 04/01/28   12,000 12,068,360
13
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Mining (cont’d.)
Rio Tinto Finance USA PLC (Australia),          
Gtd. Notes 4.375 % 03/12/27   10,000  $10,011,523
Gtd. Notes 4.500 03/14/28   12,000 12,039,456
          54,124,918
Miscellaneous Manufacturing 0.6%
Eaton Corp.,          
Gtd. Notes 3.850 03/06/28   35,000 34,749,130
Gtd. Notes 3.950 03/06/29   20,600 20,354,524
Siemens Funding BV (Germany),          
Gtd. Notes, 144A, SOFR + 0.640% 4.273(c) 05/26/28   18,000 18,073,980
Gtd. Notes, 144A 4.350 05/26/28   29,900 29,981,675
          103,159,309
Oil & Gas 0.9%
Chevron USA, Inc.,          
Gtd. Notes 4.405 02/26/27   33,900 34,011,182
Gtd. Notes 4.475 02/26/28   33,900 34,080,509
     
 
EOG Resources, Inc.,
Sr. Unsec’d. Notes 		4.400 07/15/28   20,000 20,011,324
Hess Corp.,
Sr. Unsec’d. Notes 		4.300 04/01/27   60,000 60,053,417
Phillips 66 Co.,
Gtd. Notes 		3.550 10/01/26   6,000 5,987,717
          154,144,149
Oil & Gas Services 0.3%
Schlumberger Holdings Corp.,          
Sr. Unsec’d. Notes, 144A 3.900 05/17/28   22,500 22,310,772
Sr. Unsec’d. Notes, 144A 5.000 05/29/27   23,750 23,930,298
          46,241,070
Pharmaceuticals 2.2%
AbbVie, Inc.,          
Sr. Unsec’d. Notes 3.775 03/03/28   32,000 31,745,196
Sr. Unsec’d. Notes, SOFR Index + 0.480% 4.121(c) 03/03/28   17,100 17,118,979
Sr. Unsec’d. Notes 4.650 03/15/28   49,500 49,845,039
     
 
Astrazeneca Finance LLC (United Kingdom),
Gtd. Notes 		4.800 02/26/27   25,000 25,123,735
Eli Lilly & Co.,          
Sr. Unsec’d. Notes, SOFR Index + 0.460% 4.089(c) 05/20/29   21,300 21,298,203
Sr. Unsec’d. Notes 4.150 05/20/29   8,500 8,487,271
Sr. Unsec’d. Notes, SOFR + 0.530% 4.161(c) 10/15/28   22,000 22,058,544
     
 
GlaxoSmithKline Capital PLC (United Kingdom),
Gtd. Notes 		4.315 03/12/27   35,000 35,037,730
GlaxoSmithKline Capital, Inc.,
Gtd. Notes 		3.875 05/15/28   12,000 11,932,542
Johnson & Johnson,
Sr. Unsec’d. Notes 		4.550 03/01/28   19,800 19,959,453
Merck & Co., Inc.,          
Sr. Unsec’d. Notes 3.850 03/15/29   17,100 16,921,633
Sr. Unsec’d. Notes, SOFR + 0.570% 4.207(c) 03/15/29   12,800 12,825,988
Novartis Capital Corp.,          
Gtd. Notes 3.900 11/05/28   36,800 36,547,319
Gtd. Notes 4.100 03/16/29   18,000 17,898,557
14
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Pharmaceuticals (cont’d.)
     
 
Pfizer Investment Enterprises Pte Ltd.,
Gtd. Notes 		4.450 % 05/19/28   3,000  $3,007,318
Zoetis, Inc.,
Sr. Unsec’d. Notes 		4.150 08/17/28   34,000 33,806,114
          363,613,621
Pipelines 1.0%
Enbridge, Inc. (Canada),          
Gtd. Notes 4.600 06/20/28   15,000 15,037,842
Gtd. Notes 5.250 04/05/27   19,000 19,141,261
Enterprise Products Operating LLC,          
Gtd. Notes 4.300 06/20/28   25,500 25,472,324
Gtd. Notes 4.600 01/11/27   20,000 20,046,039
     
 
MPLX LP,
Sr. Unsec’d. Notes 		4.125 03/01/27   7,530 7,521,468
ONEOK, Inc.,          
Gtd. Notes 4.000 07/13/27   6,210 6,186,748
Gtd. Notes 4.250 09/24/27   52,942 52,827,075
Gtd. Notes 5.550 11/01/26   20,565 20,653,643
          166,886,400
Real Estate Investment Trusts (REITs) 0.8%
DOC DR LLC,
Gtd. Notes 		4.300 03/15/27   5,657 5,652,792
Healthpeak OP LLC,
Gtd. Notes 		1.350 02/01/27   41,000 40,175,072
Public Storage Operating Co.,
Gtd. Notes, SOFR Index + 0.700% 		4.331(c) 04/16/27   19,773 19,807,955
Realty Income Corp.,          
Sr. Unsec’d. Notes 3.950 02/01/29   17,300 17,069,919
Sr. Unsec’d. Notes 4.125 10/15/26   12,500 12,498,421
Ventas Realty LP,          
Gtd. Notes 3.850 04/01/27   9,000 8,966,279
Gtd. Notes 4.000 03/01/28   19,755 19,586,378
          123,756,816
Retail 1.3%
Alimentation Couche-Tard, Inc. (Canada),          
Gtd. Notes, 144A 3.550 07/26/27   7,500 7,429,444
Sr. Unsec’d. Notes, 144A 4.148 09/29/28   31,500 31,210,679
Home Depot, Inc. (The),          
Sr. Unsec’d. Notes 3.750 09/15/28   12,000 11,890,679
Sr. Unsec’d. Notes 4.875 06/25/27   21,700 21,894,110
Lowe’s Cos., Inc.,          
Sr. Unsec’d. Notes 3.950 10/15/27   25,000 24,898,021
Sr. Unsec’d. Notes 4.000 10/15/28   37,450 37,088,410
     
 
O’Reilly Automotive, Inc.,
Sr. Unsec’d. Notes 		5.750 11/20/26   10,000 10,056,442
Starbucks Corp.,          
Sr. Unsec’d. Notes 4.500 05/15/28   15,419 15,440,577
Sr. Unsec’d. Notes 4.850 02/08/27   34,375 34,509,573
     
 
Target Corp.,
Sr. Unsec’d. Notes 		4.350 06/15/28   14,000 14,035,151
          208,453,086
15
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Semiconductors 0.5%
Broadcom, Inc.,
Sr. Unsec’d. Notes 		4.800 % 04/15/28   68,800  $69,435,947
Microchip Technology, Inc.,
Gtd. Notes 		4.900 03/15/28   16,000 16,086,120
          85,522,067
Software 1.5%
Cadence Design Systems, Inc.,
Sr. Unsec’d. Notes 		4.200 09/10/27   6,300 6,289,474
Fidelity National Information Services, Inc.,          
Sr. Unsec’d. Notes 4.450 03/10/28   30,900 30,815,600
Sr. Unsec’d. Notes 4.550 03/10/29   24,700 24,567,158
     
 
Fiserv, Inc.,
Sr. Unsec’d. Notes 		5.150 03/15/27   17,187 17,278,281
Intuit, Inc.,
Sr. Unsec’d. Notes 		5.250 09/15/26   50,000 50,114,987
Roper Technologies, Inc.,
Sr. Unsec’d. Notes 		4.250 09/15/28   10,000 9,936,047
Salesforce, Inc.,          
Sr. Unsec’d. Notes 4.500 03/15/28   52,000 52,083,861
Sr. Unsec’d. Notes 4.650 03/15/29   52,000 52,108,025
          243,193,433
Telecommunications 0.8%
Cisco Systems, Inc.,          
Sr. Unsec’d. Notes 4.550 02/24/28   27,500 27,691,651
Sr. Unsec’d. Notes 4.800 02/26/27   24,828 24,962,155
     
 
NTT Finance Corp. (Japan),
Sr. Unsec’d. Notes, 144A 		4.567 07/16/27   35,000 35,079,100
T-Mobile USA, Inc.,
Gtd. Notes 		3.750 04/15/27   50,000 49,803,805
          137,536,711
Transportation 0.2%
Canadian Pacific Railway Co. (Canada),
Gtd. Notes 		4.000 03/15/29   16,500 16,284,058
Ryder System, Inc.,
Sr. Unsec’d. Notes, MTN 		5.300 03/15/27   9,483 9,543,415
          25,827,473
     
 
Total Corporate Bonds
(cost $6,253,745,711) 		6,259,562,514
Residential Mortgage-Backed Securities 3.3%
Angel Oak Mortgage Trust,          
Series 2025-12, Class A1, 144A 5.039(cc) 12/25/70   18,820 18,773,414
Series 2025-13, Class A1, 144A 4.929(cc) 10/25/70   8,488 8,431,636
BRAVO Residential Funding Trust,          
Series 2025-NQM02, Class A1, 144A 5.678(cc) 11/25/64   20,946 21,059,147
Series 2025-NQM06, Class A1, 144A 5.333(cc) 06/25/65   18,641 18,655,945
Series 2025-NQM07, Class A1, 144A 5.459(cc) 07/25/65   5,689 5,704,478
Series 2026-NQM01, Class A1, 144A 4.830(cc) 12/25/65   18,286 18,133,432
Series 2026-NQM03, Class A1, 144A 4.985(cc) 11/25/65   6,951 6,917,535
Series 2026-NQM04, Class A1FC, 144A 5.073(cc) 03/25/66   13,204 13,195,333
COLT Mortgage Loan Trust,          
Series 2025-12, Class A1, 144A 4.983(cc) 01/26/71   8,288 8,251,805
16
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Residential Mortgage-Backed Securities (Continued)
COLT Mortgage Loan Trust, (cont’d.)          
Series 2026-03, Class A1, 144A 5.119 %(cc) 05/25/71   7,100  $7,073,100
Series 2026-04, Class A1, 144A 5.288(cc) 06/25/71   13,200 13,189,037
     
 
Credit Suisse Mortgage Trust,
Series 2019-RPL01, Class A1A, 144A 		3.650(cc) 07/25/58   2,462 2,426,698
Cross Mortgage Trust,          
Series 2025-H08, Class A1, 144A 5.003(cc) 11/25/70   10,561 10,506,120
Series 2025-H09, Class A1, 144A 5.036(cc) 11/25/70   22,703 22,596,746
Series 2025-H10, Class A1, 144A 4.968(cc) 01/25/71   10,152 10,098,024
Series 2026-NQM01, Class A1, 144A 4.699(cc) 02/25/61   7,019 6,950,196
Series 2026-NQM02, Class A1, 144A 4.833(cc) 03/25/61   9,767 9,690,799
GCAT Trust,          
Series 2025-NQM07, Class A1, 144A 5.036(cc) 11/25/70   17,614 17,526,782
Series 2026-NQM01, Class A1, 144A 4.789(cc) 12/25/70   7,707 7,619,218
Series 2026-NQM03, Class A1, 144A 5.409(cc) 04/25/71   17,100 17,102,604
     
 
HOMES Trust,
Series 2025-NQM05, Class A1, 144A 		5.027(cc) 09/25/70   8,860 8,813,620
Morgan Stanley Residential Mortgage Loan Trust,          
Series 2026-NQM03, Class A1FC, 144A 5.134(cc) 03/25/71   9,551 9,537,248
Series 2026-NQM04, Class A1, 144A 5.075(cc) 03/25/71   11,772 11,714,948
Series 2026-NQM05, Class A1, 144A 5.488(cc) 04/27/71   20,000 20,013,680
New Residential Mortgage Loan Trust,          
Series 2026-NQM03, Class A1, 144A 4.833(cc) 02/25/66   7,803 7,730,822
Series 2026-NQM06, Class A1, 144A 5.293(cc) 05/25/66   6,257 6,250,329
OBX Trust,          
Series 2025-NQM04, Class A1, 144A 5.400(cc) 02/25/55   12,220 12,251,353
Series 2025-NQM20, Class A1, 144A 5.021(cc) 10/25/65   7,393 7,374,017
Series 2025-NQM21, Class A1, 144A 4.989(cc) 10/25/65   5,338 5,312,261
Series 2025-NQM21, Class A1FC, 144A 4.917(cc) 10/25/65   21,320 21,254,163
Series 2025-NQM23, Class A1, 144A 4.872(cc) 10/25/65   9,629 9,574,399
Series 2026-NQM01, Class A1, 144A 4.846(cc) 11/25/65   12,821 12,718,485
Series 2026-NQM02, Class A1, 144A 4.818(cc) 12/01/65   5,741 5,700,957
Series 2026-NQM04, Class A1FC, 144A 5.082(cc) 02/25/66   7,210 7,196,763
Series 2026-NQM05, Class A1FC, 144A 5.204(cc) 01/25/66   10,945 10,942,996
Series 2026-NQM06, Class A1, 144A 5.063(cc) 04/26/66   14,888 14,823,755
Series 2026-NQM07, Class A1, 144A 5.220(cc) 04/25/66   17,266 17,233,241
Towd Point Mortgage Trust,          
Series 2018-02, Class A1, 144A 3.250(cc) 03/25/58   1,084 1,076,783
Series 2018-05, Class A1A, 144A 3.250(cc) 07/25/58   1,233 1,225,285
Series 2021-SJ01, Class A1, 144A 2.250(cc) 07/25/68   3,084 3,001,908
Verus Securitization Trust,          
Series 2024-08, Class A1, 144A 5.364(cc) 10/25/69   7,290 7,305,384
Series 2024-09, Class A1, 144A 5.438(cc) 11/25/69   3,555 3,566,080
Series 2025-06, Class A1, 144A 5.417(cc) 07/25/70   1,641 1,645,682
Series 2025-09, Class A1, 144A 4.935(cc) 10/27/70   9,254 9,218,277
Series 2025-10, Class A1FC, 144A 5.017(cc) 06/25/70   47,659 47,690,724
Series 2026-01, Class A1, 144A 4.863(cc) 01/25/71   13,509 13,412,645
Series 2026-04, Class A1, 144A 4.998(cc) 04/25/71   11,947 11,904,033
Series 2026-R01, Class A1, 144A 4.832(cc) 10/25/67   7,745 7,675,247
     
 
Total Residential Mortgage-Backed Securities
(cost $541,945,629) 		540,067,134
U.S. Treasury Obligations(k) 0.2%
U.S. Treasury Notes 4.125 11/15/27   31,000 31,062,968
U.S. Treasury Notes 4.250 01/15/28   2,000 2,007,969
     
 
Total U.S. Treasury Obligations
(cost $32,935,919) 		33,070,937
    
17
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description     Shares Value
Affiliated Exchange-Traded Fund 1.8%
Fixed Income
PGIM AAA CLO ETF
(cost $295,115,152)(wa) 		5,750,000  $295,032,500
     
 
 
Total Long-Term Investments
(cost $12,363,807,973) 		12,373,832,366
 
Short-Term Investments 24.3%
Affiliated Mutual Fund 0.1%          
PGIM Core Government Money Market Fund (7-day effective yield 3.757%)
(cost $13,283,437)(wa) 		    13,283,437 13,283,437
    
  Interest
Rate 		  Maturity
Date 		  Principal Amount
(000)# 		 
Certificates of Deposit 3.3%  
Bank of America Corp., SOFR + 0.360% 3.990 %(c)   04/28/27     25,000 25,015,410
Bank of Nova Scotia, SOFR + 0.350% (Cap N/A, Floor 0.000%) 3.970(c)   12/04/26     50,000 50,024,745
BNP Paribas SA,              
SOFR + 0.340% 3.960(c)   05/13/27     50,000 49,994,145
SOFR + 0.340% 3.960(c)   05/28/27     30,000 29,994,213
SOFR + 0.360% 3.980(c)   11/05/26     50,000 50,021,635
         
 
Credit Industriel et Commercial, SOFR + 0.410% 4.030(c)   04/23/27     50,000 50,049,425
Intesa Sanpaolo SpA 4.270   06/30/26     102,500 102,530,381
Natixis SA,              
SOFR + 0.360% 3.980(c)   10/09/26     65,000 65,041,275
SOFR + 0.420% 4.040(c)   04/13/27     11,500 11,509,713
         
 
Sumitomo Mitsui Banking Corp., SOFR + 0.320% 3.940(c)   10/27/26     15,000 15,006,132
Svenska Handelsbanken,              
SOFR + 0.310% (Cap N/A, Floor 0.000%) 3.940(c)   09/16/26     25,000 25,012,525
SOFR + 0.310% (Cap N/A, Floor 0.000%) 3.940(c)   09/24/26     25,000 25,013,012
         
 
Swedbank AB, SOFR + 0.310% 3.940(c)   09/16/26     9,000 9,004,592
Westpac Banking Corp., SOFR + 0.320% 3.940(c)   07/02/26     25,000 25,005,318
         
 
Total Certificates of Deposit
(cost $533,000,000) 		  533,222,521
Commercial Paper 20.9%  
Alexandria Real Estate Equities, Inc.,              
144A 4.271(n)   06/12/26     54,400 54,317,486
144A 4.282(n)   06/01/26     107,425 107,390,409
144A 4.429(n)   06/29/26     25,000 24,908,076
144A 4.478(n)   06/05/26     15,600 15,588,261
Alimentation Couche-Tard, Inc.,              
144A 4.019(n)   06/08/26     20,000 19,977,776
144A 4.076(n)   06/03/26     51,000 50,971,838
144A 4.117(n)   07/16/26     50,000 49,726,400
Amrize Finance US LLC,              
144A 4.153(n)   06/05/26     25,000 24,980,945
144A 4.155(n)   06/10/26     51,110 51,042,811
144A 4.162(n)   06/24/26     30,000 29,913,099
144A 4.163(n)   06/11/26     30,000 29,957,223
Autoliv, Inc.,              
144A 4.114(n)   06/26/26     18,000 17,943,714
144A 4.125(n)   06/22/26     25,000 24,933,313
144A 4.187(n)   06/30/26     22,000 21,921,152
144A 4.247(n)   06/29/26     35,000 34,878,512
Bank of America Securities, Inc.,              
SOFR + 0.330% 3.950(c)   08/05/26     25,000 25,008,985
SOFR + 0.350% 3.980(c)   10/28/26     14,500 14,508,890
         
 
18
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Commercial Paper (Continued)
     
Bank of Montreal,
144A, SOFR + 0.210% 		3.830 %(c) 09/01/26   17,500  $17,499,820
Bayer Corp.,          
144A 4.638(n) 08/05/26   30,000 29,767,212
144A 4.746(n) 07/20/26   31,000 30,816,889
     
 
Carrier Global Corp. 4.058(n) 06/08/26   28,000 27,969,430
     
 
Carrier Global Corp. 4.084(n) 06/25/26   15,000 14,955,117
     
 
Carrier Global Corp. 4.219(n) 06/03/26   11,500 11,493,761
     
 
CBRE Services, Inc.,
144A 		4.180(n) 06/17/26   70,000 69,853,056
Citigroup Global Markets, Inc.,
144A 		4.182(n) 04/28/27   80,000 77,053,056
Daimler Trucks Finance North America LLC 4.189(n) 06/08/26   10,000 9,988,867
E.ON SE,
144A 		4.079(n) 06/02/26   35,000 34,984,838
Enterprise Products Operating LLC,
144A 		4.027(n) 06/10/26   7,000 6,990,798
ERAC USA Finance LLC,
144A 		3.983(n) 06/02/26   16,500 16,492,750
ERP Operating LP,
144A 		4.009(n) 06/08/26   25,000 24,972,678
Essential Utilities, Inc.,
144A 		4.071(n) 06/09/26   75,630 75,539,403
Essex Portfolio LP,          
144A 4.015(n) 06/08/26   10,000 9,988,912
144A 4.154(n) 06/03/26   27,500 27,484,892
Givaudan United States, Inc.,          
144A 4.041(n) 06/11/26   41,000 40,939,955
144A 4.052(n) 09/04/26   12,750 12,603,346
144A 4.137(n) 07/08/26   41,856 41,663,772
144A 4.164(n) 07/09/26   10,000 9,952,911
Glencore Funding LLC,          
144A 4.224(n) 06/16/26   30,000 29,941,308
144A 4.235(n) 06/23/26   17,000 16,953,389
144A 4.301(n) 06/17/26   121,000 120,749,736
Healthpeak Properties, Inc.,          
144A 4.126(n) 06/18/26   15,000 14,966,565
144A 4.130(n) 06/24/26   85,000 84,751,936
144A 4.136(n) 06/17/26   42,750 42,659,584
144A 4.167(n) 06/03/26   10,000 9,994,538
     
 
Howmet Aerospace, Inc.,
144A 		4.013(n) 06/25/26   15,000 14,954,489
ING (U.S.) Funding LLC,          
144A, SOFR + 0.340% 3.970(c) 07/06/26   45,000 45,010,057
144A, SOFR + 0.340% 3.970(c) 08/18/26   10,000 10,003,181
144A, SOFR + 0.340% 3.970(c) 02/01/27   50,000 50,012,580
Intercontinental Exchange, Inc.,          
144A 4.022(n) 06/15/26   75,000 74,854,725
144A 4.033(n) 06/05/26   20,000 19,984,020
144A 4.182(n) 06/08/26   10,000 9,988,580
Marsh & McLennan Cos., Inc.,          
144A 4.013(n) 06/11/26   24,000 23,965,778
144A 4.019(n) 06/03/26   7,500 7,495,931
144A 4.029(n) 06/10/26   35,000 34,953,989
NextEra Energy Capital Holdings, Inc.,          
144A 4.091(n) 06/29/26   18,000 17,937,520
144A 4.112(n) 06/23/26   65,000 64,819,170
144A 4.174(n) 06/22/26   60,000 59,839,950
     
 
NTT Finance Americas, Inc. 4.000(n) 06/10/26   20,000 19,974,700
19
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Commercial Paper (Continued)
Nutrien Ltd.,          
144A 4.026 %(n) 06/09/26   10,000  $9,987,857
144A 4.035(n) 06/10/26   10,000 9,986,742
144A 4.147(n) 06/23/26   10,000 9,972,065
144A 4.162(n) 06/18/26   20,000 19,955,498
ONE Gas, Inc.,          
144A 4.057(n) 06/04/26   16,500 16,489,102
144A 4.058(n) 06/05/26   12,100 12,090,660
144A 4.060(n) 06/03/26   5,000 4,997,253
144A 4.071(n) 06/08/26   23,000 22,974,544
144A 4.080(n) 06/11/26   10,000 9,985,560
144A 4.100(n) 06/12/26   8,500 8,486,766
ONEOK, Inc.,          
144A 4.113(n) 06/25/26   20,000 19,938,866
144A 4.114(n) 06/26/26   14,000 13,955,568
144A 4.115(n) 06/23/26   11,000 10,968,939
144A 4.118(n) 06/08/26   18,000 17,980,216
     
 
O’Reilly Automotive, Inc.,
144A 		4.045(n) 06/22/26   40,000 39,894,108
Phillips,
144A 		4.552(n) 06/22/26   135,000 134,639,914
PPG Industries, Inc. 4.009(n) 06/16/26   10,000 9,980,209
     
 
PPG Industries, Inc. 4.019(n) 06/03/26   32,000 31,982,640
     
 
PPG Industries, Inc. 4.029(n) 06/01/26   11,000 10,996,433
     
 
Royal Bank of Canada,
144A, SOFR + 0.340% 		3.960(c) 10/30/26   58,000 58,034,116
Saudi Arabian Oil Co. 3.959(n) 07/27/26   30,000 29,811,708
Sempra,          
144A 4.076(n) 06/02/26   10,000 9,995,668
144A 4.114(n) 06/18/26   29,255 29,190,115
144A 4.120(n) 06/25/26   18,000 17,945,654
144A 4.125(n) 06/23/26   52,000 51,854,972
144A 4.130(n) 06/24/26   7,448 7,426,371
144A 4.130(n) 06/26/26   20,000 19,937,304
144A 4.131(n) 06/22/26   14,204 14,166,016
     
 
Servicenow, Inc.,
144A 		4.066(n) 10/08/26   82,000 80,853,861
Simon Property Group LP,          
144A 4.192(n) 06/10/26   38,500 38,449,388
144A 4.252(n) 06/05/26   36,000 35,972,561
     
 
Skandinaviska Enskilda Banken AB,
144A, SOFR + 0.310% 		3.940(c) 09/08/26   30,000 30,014,112
Stryker Corp.,
144A 		4.021(n) 06/16/26   36,375 36,307,011
Suncor Energy, Inc.,
144A 		4.212(n) 06/11/26   32,000 31,954,371
Svenska Handelsbanken,
144A, SOFR + 0.300% 		3.930(c) 10/19/26   45,000 45,015,619
Swedbank AB,
144A, SOFR + 0.310% 		3.940(c) 09/09/26   33,500 33,516,770
The Thomson Reuters Corp.,          
144A 4.003(n) 06/09/26   70,000 69,915,748
144A 4.004(n) 06/03/26   20,200 20,189,042
144A 4.007(n) 06/11/26   29,800 29,757,508
144A 4.210(n) 06/18/26   30,000 29,933,631
Ventas Realty LP,          
144A 4.010(n) 06/18/26   6,000 5,986,783
144A 4.063(n) 06/25/26   50,000 49,850,390
144A 4.065(n) 06/29/26   12,800 12,755,896
144A 4.200(n) 06/26/26   25,000 24,922,358
20
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Commercial Paper (Continued)
Ventas Realty LP,  (cont’d.)          
144A 4.210 %(n) 06/17/26   31,000   $30,935,182
     
 
Virginia Electric & Power Co. 4.011(n) 06/11/26   19,000 18,973,991
     
 
Virginia Electric & Power Co. 4.016(n) 06/15/26   35,000 34,937,116
     
 
VW Credit, Inc.,
144A 		4.229(n) 06/08/26   40,000 39,955,508
WEC Energy Group, Inc.,          
144A 4.039(n) 06/15/26   4,000 3,992,505
144A 4.059(n) 06/10/26   14,500 14,480,938
144A 4.060(n) 06/11/26   40,000 39,942,964
     
 
Westpac Banking Corp.,
144A, SOFR + 0.300% 		3.920(c) 10/08/26   45,000 45,018,121
     
 
Total Commercial Paper
(cost $3,420,745,710) 		3,420,048,317
     
 
 
Total Short-Term Investments
(cost $3,967,029,147) 		3,966,554,275
 
TOTAL INVESTMENTS 100.1%
(cost $16,330,837,120) 		16,340,386,641
Liabilities in excess of other assets(z) (0.1)% (16,254,658)
 
Net Assets 100.0% $16,324,131,983
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
    
   
  144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.
  A—Annual payment frequency for swaps
  CLO—Collateralized Loan Obligation
  ETF—Exchange-Traded Fund
  GMTN—Global Medium Term Note
  LP—Limited Partnership
  MTN—Medium Term Note
  N/A—Not Applicable
  REITs—Real Estate Investment Trust
  SOFR—Secured Overnight Financing Rate
    
# Principal or notional amount is shown in U.S. dollars unless otherwise stated.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at May 31, 2026.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of May 31, 2026. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.
(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.
(n) Rate shown reflects yield to maturity at purchased date.
(wa) Represents investments in Funds affiliated with the Manager.
(x) The following represents restricted securities that are acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law.
(x) Restricted Securities:
Issuer   Acquisition
Date 		  Original
Cost 		  Market
Value 		  Percentage
of
Net Assets
SREIT Trust,
Series 2021-MFP02, Class A, 144A, 1 Month SOFR + 0.936% (Cap N/A, Floor 0.822%), 4.563%(c), 11/15/36 		  06/03/25-09/25/25    $25,102,483    $25,122,147   0.2 %
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
21
PGIM Ultra Short Bond ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Interest rate swap agreements outstanding at May 31, 2026:
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
May 31,
2026 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements:
  60,000   08/18/26   4.442%(A)   1 Day SOFR(1)(A)/ 3.630%    $60,407    $(340,698)    $(401,105)
  8,700   08/21/26   3.781%(A)   1 Day SOFR(1)(A)/ 3.630%   409   8,372   7,963
  18,000   09/05/26   3.680%(A)   1 Day SOFR(1)(A)/ 3.630%   —   57,502   57,502
  242,500   09/14/26   4.550%(A)   1 Day SOFR(1)(A)/ 3.630%   (73,249)   (1,464,796)   (1,391,547)
  25,000   11/20/26   4.077%(A)   1 Day SOFR(1)(A)/ 3.630%   —   (72,960)   (72,960)
  299,000   01/04/27   3.834%(A)   1 Day SOFR(1)(A)/ 3.630%   1,159,001   (289,701)   (1,448,702)
  86,000   02/13/27   4.527%(A)   1 Day SOFR(1)(A)/ 3.630%   (324,305)   (660,779)   (336,474)
  217,200   03/05/27   3.859%(A)   1 Day SOFR(1)(A)/ 3.630%   (157,366)   (203,595)   (46,229)
  92,190   03/18/27   4.304%(A)   1 Day SOFR(1)(A)/ 3.630%   (235,135)   (488,770)   (253,635)
  35,000   05/21/27   4.050%(A)   1 Day SOFR(1)(A)/ 3.630%   —   (81,598)   (81,598)
  195,450   05/23/27   4.463%(A)   1 Day SOFR(1)(A)/ 3.630%   (624,133)   (1,233,893)   (609,760)
  137,230   08/09/27   3.600%(A)   1 Day SOFR(1)(A)/ 3.630%   (261,304)   772,720   1,034,024
  104,740   09/12/27   3.212%(A)   1 Day SOFR(1)(A)/ 3.630%   107,733   1,489,582   1,381,849
  37,300   11/15/27   3.630%(A)   1 Day SOFR(1)(A)/ 3.630%   122,572   165,473   42,901
  9,400   11/21/27   3.944%(A)   1 Day SOFR(1)(A)/ 3.630%   —   (13,429)   (13,429)
  113,970   11/25/27   4.000%(A)   1 Day SOFR(1)(A)/ 3.630%   (902,847)   (325,523)   577,324
  36,300   11/26/27   3.296%(A)   1 Day SOFR(1)(A)/ 3.630%   (1,637)   396,925   398,562
  70,000   01/07/28   4.110%(A)   1 Day SOFR(1)(A)/ 3.630%   12,334   (377,260)   (389,594)
  299,600   01/16/28   4.249%(A)   1 Day SOFR(1)(A)/ 3.630%   (1,147,835)   (2,412,002)   (1,264,167)
  15,000   01/19/28   3.879%(A)   1 Day SOFR(1)(A)/ 3.630%   —   (6,315)   (6,315)
  174,615   02/27/28   3.860%(A)   1 Day SOFR(1)(A)/ 3.630%   (1,647,895)   595,953   2,243,848
  65,900   03/06/28   3.365%(A)   1 Day SOFR(1)(A)/ 3.630%   —   618,012   618,012
  40,000   03/13/28   3.399%(A)   1 Day SOFR(1)(A)/ 3.630%   —   349,281   349,281
  52,000   03/13/28   3.454%(A)   1 Day SOFR(1)(A)/ 3.630%   —   398,540   398,540
  13,000   03/30/28   3.778%(A)   1 Day SOFR(1)(A)/ 3.630%   —   18,919   18,919
  100,000   04/17/28   3.595%(A)   1 Day SOFR(1)(A)/ 3.630%   —   504,992   504,992
  50,000   05/13/28   3.780%(A)   1 Day SOFR(1)(A)/ 3.630%   —   79,987   79,987
  13,900   05/15/28   3.843%(A)   1 Day SOFR(1)(A)/ 3.630%   —   5,353   5,353
  13,200   05/18/28   3.822%(A)   1 Day SOFR(1)(A)/ 3.630%   —   10,667   10,667
  37,100   05/26/28   3.923%(A)   1 Day SOFR(1)(A)/ 3.630%   —   (39,865)   (39,865)
  50,000   06/01/28   3.879%(A)   1 Day SOFR(1)(A)/ 3.630%   —   —   —
  261,800   06/30/28   3.445%(A)   1 Day SOFR(1)(A)/ 3.630%   (432,866)   3,584,064   4,016,930
  10,000   10/23/28   3.516%(A)   1 Day SOFR(1)(A)/ 3.630%   —   79,373   79,373
  28,300   01/29/29   3.370%(A)   1 Day SOFR(1)(A)/ 3.630%   3,870   381,820   377,950
  31,300   02/12/29   3.338%(A)   1 Day SOFR(1)(A)/ 3.630%   —   451,719   451,719
  61,800   03/06/29   3.322%(A)   1 Day SOFR(1)(A)/ 3.630%   —   921,067   921,067
  61,200   03/12/29   3.369%(A)   1 Day SOFR(1)(A)/ 3.630%   —   830,665   830,665
  52,000   03/13/29   3.416%(A)   1 Day SOFR(1)(A)/ 3.630%   —   635,411   635,411
  40,000   03/19/29   3.456%(A)   1 Day SOFR(1)(A)/ 3.630%   —   443,826   443,826
  32,000   03/27/29   3.638%(A)   1 Day SOFR(1)(A)/ 3.630%   —   190,109   190,109
  29,000   04/23/29   3.520%(A)   1 Day SOFR(1)(A)/ 3.630%   —   271,367   271,367
  21,700   05/04/29   3.683%(A)   1 Day SOFR(1)(A)/ 3.630%   —   103,174   103,174
  43,300   05/07/29   3.770%(A)   1 Day SOFR(1)(A)/ 3.630%   —   98,537   98,537
  8,500   05/08/29   3.677%(A)   1 Day SOFR(1)(A)/ 3.630%   —   41,934   41,934
  14,400   05/14/29   3.813%(A)   1 Day SOFR(1)(A)/ 3.630%   —   15,756   15,756
  8,000   07/23/29   3.496%(A)   1 Day SOFR(1)(A)/ 3.630%   —   85,451   85,451
  5,200   07/23/29   3.564%(A)   1 Day SOFR(1)(A)/ 3.630%   —   44,684   44,684
  130,500   08/01/29   3.541%(A)   1 Day SOFR(1)(A)/ 3.630%   (752,573)   1,678,879   2,431,452
  12,600   02/20/30   3.941%(A)   1 Day SOFR(1)(A)/ 3.630%   —   (41,068)   (41,068)
  14,000   02/20/30   3.948%(A)   1 Day SOFR(1)(A)/ 3.630%   —   (49,059)   (49,059)
                    $(5,094,819)   $7,228,803   $12,323,622
    
(1) The Fund pays the fixed rate and receives the floating rate.
(2) The Fund pays the floating rate and receives the fixed rate.
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
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