NPORT-P false 0001795351 XXXXXXXX S000079834 C000241222 T. Rowe Price Exchange-Traded Funds, Inc. 811-23494 0001795351 549300XZPUK24E1UMH17 1307 Point Street Baltimore 21231 410-345-2000 T. Rowe Price Capital Appreciation Equity ETF S000079834 254900NAQ4BORDZJ5A89 2026-12-31 2026-03-31 N 6224850304.640001 1804080.570000 6223046224.070002 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 USD N ABBOTT LABORATORIES HQD377W2YR662HK5JX27 002824100 392538.000000 NS USD 40301876.460000 0.6476229648 Long EC CORP US N 1 N N N ACUITY INC N/A 00508Y102 70001.000000 NS USD 19615680.220000 0.3152102606 Long EC CORP US N 1 N N N ADVANCED MICRO DEVICES R2I72C950HOYXII45366 007903107 680260.000000 NS USD 138385291.800000 2.2237548432 Long EC CORP US N 1 N N N ALNYLAM PHARMACEUTICALS INC 529900S3ZI14OWRJII50 02043Q107 149404.000000 NS USD 49433301.480000 0.7943585778 Long EC CORP US N 1 N N N ALPHABET INC CL A 5493006MHB84DD0ZWV18 02079K305 876826.000000 NS USD 252140084.560000 4.0517147950 Long EC CORP US N 1 N N N ALPHABET INC CL C 5493006MHB84DD0ZWV18 02079K107 19814.000000 NS USD 5683844.040000 0.0913353981 Long EC CORP US N 1 N N N AMAZON.COM INC ZXTILKJKG63JELOEG630 023135106 1912149.000000 NS USD 398243272.230000 6.3994908264 Long EC CORP US N 1 N N N AMEREN CORPORATION XRZQ5S7HYJFPHJ78L959 023608102 857080.000000 NS USD 94210233.600000 1.5138925569 Long EC CORP US N 1 N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027X100 19566.000000 NS USD 3376700.280000 0.0542612116 Long EC CORP US N 1 N N N AMETEK INC 549300WZDEF9KKE40E98 031100100 34980.000000 NS USD 7498312.800000 0.1204926419 Long EC CORP US N 1 N N N APOGEE THERAPEUTICS INC N/A 03770N101 634849.000000 NS USD 53435240.330000 0.8586669359 Long EC CORP US N 1 N N N APPLE INC HWUPKR0MPOU8FGXBT394 037833100 1459611.000000 NS USD 370434675.690000 5.9526261312 Long EC CORP US N 1 N N N ARCELLX INC N/A 03940C100 168450.000000 NS USD 19341429.000000 0.3108032353 Long EC CORP US N 1 N N N ARISTA NETWORKS INC 635400H1WKBLOQERUU95 040413205 140565.000000 NS USD 17258570.700000 0.2773331593 Long EC CORP US N 1 N N N ARTHUR J GALLAGHER & CO 54930049QLLMPART6V29 363576109 195316.000000 NS USD 42301539.280000 0.6797561477 Long EC CORP US N 1 N N N ASCENDIS PHARMA A/S - ADR 549300B66JN3W3J8GH73 04351P101 333325.000000 NS USD 76241427.250000 1.2251464075 Long EC CORP DK N 1 N N N AURORA INNOVATION INC 984500AB2E0D9F7D9D76 051774107 7306820.000000 NS USD 30104098.400000 0.4837518044 Long EC CORP US N 1 N N N BECTON DICKINSON AND CO ICE2EP6D98PQUILVRZ91 075887109 799357.000000 NS USD 125682901.110000 2.0196363097 Long EC CORP US N 1 N N N BENTLEY SYSTEMS INC-CLASS B 549300WVEHPGE0Z56F71 08265T208 1053029.000000 NS USD 36982378.480000 0.5942809542 Long EC CORP US N 1 N N N BIOGEN INC W8J5WZB5IY3K0NDQT671 09062X103 95673.000000 NS USD 17539731.090000 0.2818512101 Long EC CORP US N 1 N N N BIONTECH SE-ADR 894500UZJ5LG1F8J1U58 09075V102 282533.000000 NS USD 25111533.040000 0.4035247712 Long EC CORP DE N 1 N N N BLACKROCK INC 529900VBK42Y5HHRMD23 09290D101 16756.000000 NS USD 16114412.760000 0.2589473415 Long EC CORP US N 1 N N N BOOKING HOLDINGS INC FXM8FAOHMYDIPD38UZ17 09857L108 5142.000000 NS USD 21649465.440000 0.3478917665 Long EC CORP US N 1 N N N BOOZ ALLEN HAMILTON HOLDINGS 529900JPV47PIUWMA015 099502106 101743.000000 NS USD 7939006.290000 0.1275742780 Long EC CORP US N 1 N N N BROADCOM INC 549300WV6GIDOZJTV909 11135F101 619644.000000 NS USD 191786014.440000 3.0818671039 Long EC CORP US N 1 N N N CADENCE DESIGN SYS INC GCT7RXJOGLXPV0NXZY22 127387108 43500.000000 NS USD 12087345.000000 0.1942351794 Long EC CORP US N 1 N N N CANADIAN NATURAL RESOURCES 549300T15RIMIKZC5Q38 136385101 1426403.000000 NS USD 69508618.190000 1.1169548753 Long EC CORP CA N 1 N N N CENCORA INC AI8GXW8LG5WK7E9UD086 03073E105 422126.000000 NS USD 132606661.640000 2.1308962985 Long EC CORP US N 1 N N N CENTERPOINT ENERGY INC 21TPXMRRHFKOBHDC8J74 15189T107 4949772.000000 NS USD 213632159.520000 3.4329193747 Long EC CORP US N 1 N N N CG ONCOLOGY INC N/A 156944100 240618.000000 NS USD 16285026.240000 0.2616889808 Long EC CORP US N 1 N N N CHEVRON CORP N/A 166764100 97099.000000 NS USD 20089783.100000 0.3228287623 Long EC CORP US N 1 N N N CHIPOTLE MEXICAN GRILL INC 529900REP5VGTPCP1J71 169656105 288888.000000 NS USD 9247304.880000 0.1485977212 Long EC CORP US N 1 N N N CIENA CORP W0CZ7N0GH8UIGXDM1H41 171779309 31359.000000 NS USD 12174504.570000 0.1956357728 Long EC CORP US N 1 N N N CONOCOPHILLIPS WPTL2Z3FIYTHSP5V2253 20825C104 163108.000000 NS USD 21530256.000000 0.3459761542 Long EC CORP US N 1 N N N CYTOKINETICS INC 549300BE5DY1HW7IHA64 23282W605 1045102.000000 NS USD 68882672.820000 1.1068963710 Long EC CORP US N 1 N N N DANAHER CORP S4BKK9OTCEWQ3YHPFM11 235851102 273118.000000 NS USD 51783172.800000 0.8321193662 Long EC CORP US N 1 N N N DOORDASH INC - A 549300NUQ43FGGSK5051 25809K105 290167.000000 NS USD 43568575.050000 0.7001165262 Long EC CORP US N 1 N N N DYNE THERAPEUTICS INC N/A 26818M108 347796.000000 NS USD 6305541.480000 0.1013256411 Long EC CORP US N 1 N N N ELI LILLY & CO FRDRIPF3EKNDJ2CQJL29 532457108 97192.000000 NS USD 89394285.840000 1.4365036450 Long EC CORP US N 1 N N N ENTERGY CORP 4XM3TW50JULSLG8BNC79 29364G103 138764.000000 NS USD 15591523.040000 0.2505448695 Long EC CORP US N 1 N N N EQUIFAX INC 5493004MCF8JDC86VS77 294429105 126583.000000 NS USD 22793800.810000 0.3662804355 Long EC CORP US N 1 N N N ERASCA INC N/A 29479A108 546605.000000 NS USD 8844068.900000 0.1421180011 Long EC CORP US N 1 N N N GE Aerospace 3C7474T6CDKPR9K6YT90 369604301 188855.000000 NS USD 53591383.350000 0.8611760450 Long EC CORP US N 1 N N N GILEAD SCIENCES INC 549300WTZWR07K8MNV44 375558103 157452.000000 NS USD 21944085.240000 0.3526261006 Long EC CORP US N 1 N N N HILTON WORLDWIDE HOLDINGS INC 549300HVGPK36ICB0B89 43300A203 76044.000000 NS USD 23123459.520000 0.3715778204 Long EC CORP US N 1 N N N INGERSOLL-RAND INC 5299004C02FMZCUOIR50 45687V106 1063744.000000 NS USD 85227169.280000 1.3695409967 Long EC CORP US N 1 N N N ITT INC 549300KDSERHTJOXUS80 45073V108 65395.000000 NS USD 12459709.350000 0.2002188141 Long EC CORP US N 1 N N N J.P. MORGAN CHASE & CO. 8I5DZWZKVSZI1NUHU748 46625H100 352746.000000 NS USD 103763763.360000 1.6674110978 Long EC CORP US N 1 N N N KEURIG DR PEPPER INC DYTQ8KRTKO7Y2BVU5K74 49271V100 5719519.000000 NS USD 150594935.270000 2.4199552735 Long EC CORP US N 1 N N N KLA CORP 549300H0BF5JCG96TJ81 482480100 23665.000000 NS USD 34844582.650000 0.5599280705 Long EC CORP US N 1 N N N KYMERA THERAPEUTICS INC N/A 501575104 125059.000000 NS USD 10416164.110000 0.1673804715 Long EC CORP US N 1 N N N MADISON SQUARE GARDEN SPORTS CORP N/A 55825T103 28021.000000 NS USD 9005949.400000 0.1447193075 Long EC CORP US N 1 N N N MARRIOTT INTERNATIONAL -CL A 225YDZ14ZO8E1TXUSU86 571903202 38152.000000 NS USD 12478374.640000 0.2005187522 Long EC CORP US N 1 N N N MASTERCARD INC - A AR5L2ODV9HN37376R084 57636Q104 177734.000000 NS USD 88806570.440000 1.4270594696 Long EC CORP US N 1 N N N META PLATFORMS INC-CLASS A BQ4BKCS1HXDV9HN80Z93 30303M102 427499.000000 NS USD 244585002.870000 3.9303099168 Long EC CORP US N 1 N N N MICRON TECHNOLOGY INC B3DXGBC8GAIYWI2Z0172 595112103 128421.000000 NS USD 43385750.640000 0.6971786658 Long EC CORP US N 1 N N N MICROSOFT CORP INR2EJN1ERAN0W5ZP974 594918104 1197283.000000 NS USD 443198248.110000 7.1218858442 Long EC CORP US N 1 N N N MSCI INC 549300HTIN2PD78UB763 55354G100 39486.000000 NS USD 21283348.860000 0.3420085292 Long EC CORP US N 1 N N N NIKE INC -CL B 787RXPR0UX0O0XUXPZ81 654106103 207168.000000 NS USD 10942613.760000 0.1758401491 Long EC CORP US N 1 N N N NISOURCE INC 549300D8GOWWH0SJB189 65473P105 4253509.000000 NS USD 198468729.940000 3.1892536676 Long EC CORP US N 1 N N N NVIDIA CORP 549300S4KLFTLO7GSQ80 67066G104 1905237.000000 NS USD 332273332.800000 5.3394000436 Long EC CORP US N 1 N N N OTIS WORLDWIDE CORP 549300ZLBKR8VSU25153 68902V107 193564.000000 NS USD 14919913.120000 0.2397525678 Long EC CORP US N 1 N N N PHILIP MORRIS INTERNATIONAL HL3H1H2BGXWVG3BSWR90 718172109 180567.000000 NS USD 29854947.780000 0.4797481282 Long EC CORP US N 1 N N N PPL CORP 9N3UAJSNOUXFKQLF3V18 69351T106 2039510.000000 NS USD 77909282.000000 1.2519476667 Long EC CORP US N 1 N N N PTC INC 54930050SSMU8SKDJ030 69370C100 959236.000000 NS USD 136681537.640000 2.1963767055 Long EC CORP US N 1 N N N REPUBLIC SERVICES INC NKNQHM6BLECKVOQP7O46 760759100 66679.000000 NS USD 14604034.580000 0.2346766206 Long EC CORP US N 1 N N N REVVITY INC 549300IKL1SDPFI7N655 714046109 835884.000000 NS USD 73231797.240000 1.1767837584 Long EC CORP US N 1 N N N RYAN SPECIALTY HOLDINGS N/A 78351F107 157538.000000 NS USD 5315332.120000 0.0854136693 Long EC CORP US N 1 N N N S&P GLOBAL INC Y6X4K52KMJMZE7I7MY94 78409V104 76915.000000 NS USD 32715026.100000 0.5257075863 Long EC CORP US N 1 N N N SAP SE SPONSORED ADR 529900D6BF99LW9R2E68 803054204 120254.000000 NS USD 20588687.340000 0.3308458044 Long EC CORP DE N 1 N N N SERVICE CORP INTERNATIONAL 549300RKVM2ME20JHZ15 817565104 146511.000000 NS USD 12088622.610000 0.1942557097 Long EC CORP US N 1 N N N SLB LTD 213800ZUA17OK3QLGM62 806857108 421221.000000 NS USD 21646547.190000 0.3478448723 Long EC CORP CW N 1 N N N SPX TECHNOLOGIES INC P761FCI0CPOG24I8JE10 78473E103 108646.000000 NS USD 21722681.240000 0.3490682932 Long EC CORP US N 1 N N N STARBUCKS CORP OQSJ1DU9TAOC51A47K68 855244109 981371.000000 NS USD 87921027.890000 1.4128294203 Long EC CORP US N 1 N N N T. Rowe Price Government Reserve Fund 5493002Y0IYARJVQ5N24 000000000 7895332.100000 NS USD 7895332.100000 0.1268724643 Long STIV RF US N 1 N N N TAIWAN SEMICONDUCTOR-SP ADR 549300KB6NK5SBD14S87 874039100 261521.000000 NS USD 88381021.950000 1.4202212031 Long EC CORP TW N 1 N N N THERMO FISHER SCIENTIFIC INC HCHV7422L5HDJZCRFL38 883556102 105455.000000 NS USD 51834296.150000 0.8329408827 Long EC CORP US N 1 N N N TRANSDIGM GROUP INC N/A 893641100 17178.000000 NS USD 19908614.880000 0.3199175157 Long EC CORP US N 1 N N N TYLER TECHNOLOGIES INC 25490040SMU4Z8LBCW70 902252105 7296.000000 NS USD 2498004.480000 0.0401411847 Long EC CORP US N 1 N N N UNITEDHEALTH GROUP INC 549300GHBMY8T5GXDE41 91324P102 465793.000000 NS USD 126038927.870000 2.0253574107 Long EC CORP US N 1 N N N US FOODS HOLDING CORP 549300UGOZSO64CFPR97 912008109 417157.000000 NS USD 38466046.970000 0.6181224690 Long EC CORP US N 1 N N N VAXCYTE INC 254900M7NMHTGASX8D95 92243G108 469736.000000 NS USD 27296358.960000 0.4386333956 Long EC CORP US N 1 N N N VERALTO CORP 635400FJE6GSOJUSNY27 92338C103 275101.000000 NS USD 24324430.420000 0.3908765827 Long EC CORP US N 1 N N N VISA INC-CLASS A SHARES 549300JZ4OKEHW3DPJ59 92826C839 293817.000000 NS USD 88803250.080000 1.4270061138 Long EC CORP US N 1 N N N VULCAN MATERIALS CO 549300Q8LSNHAVWBNI21 929160109 32336.000000 NS USD 8805092.800000 0.1414916824 Long EC CORP US N 1 N N N WASTE CONNECTIONS INC 549300HDLRTPBQU69P29 94106B101 45865.000000 NS USD 7450310.600000 0.1197212801 Long EC CORP CA N 1 N N N WATERS CORP 5T547R1474YC9HOD8Q74 941848103 342831.000000 NS USD 102095071.800000 1.6405963916 Long EC CORP US N 1 N N N N/A N/A 000000000 398478.000000 NS USD 65476271.200000 1.0521578796 Long EP CORP US N 3 N N N WEC ENERGY GROUP INC 549300IGLYTZUK3PVP70 92939U106 276550.000000 NS USD 32016193.500000 0.5144778352 Long EC CORP US N 1 N N N WEST PHARMACEUTICAL SERVICES 5493007NKRGM1RJQ1P16 955306105 90245.000000 NS USD 22619006.800000 0.3634716180 Long EC CORP US N 1 N N N WILLIS TOWERS WATSON PLC 549300WHC56FF48KL350 G96629103 142613.000000 NS USD 41457599.100000 0.6661946193 Long EC CORP IE N 1 N N N WORKDAY INC 549300J0DYC0N31V7G13 98138H101 304702.000000 NS USD 39586883.840000 0.6361335336 Long EC CORP US N 1 N N N YUM BRANDS INC 549300JE8XHZZ7OHN517 988498101 651954.000000 NS USD 101365807.920000 1.6288776311 Long EC CORP US N 1 N N N 2026-05-05 T. Rowe Price Exchange-Traded Funds, Inc. /s/ Alan Dupski Alan Dupski Treasurer & Vice President XXXX