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        <name>CINTAS CORP</name>
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        <name>COHERENT CORP</name>
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        <name>COSTCO WHOLESALE CORP</name>
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        <name>CROWDSTRIKE HOLDINGS INC - A</name>
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        <name>DANAHER CORP</name>
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        <name>ELI LILLY &amp; CO</name>
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        <name>GE VERNOVA LLC</name>
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        <name>GE Aerospace</name>
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        <name>INVESCO QQQ TRUST SERIES 1</name>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPACE EXPLORATION TECHN-CL A</name>
        <lei>549300B9WLO96RQCXP87</lei>
        <title>SPACE EXPLORATION TECHN CL A COMMON STOCK USD.001</title>
        <cusip>84615Q103</cusip>
        <identifiers>
          <isin value="US84615Q1031"/>
        </identifiers>
        <balance>19297.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3297085.420000</valUSD>
        <pctVal>0.3213774427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPOTIFY TECHNOLOGY SA</name>
        <lei>549300B4X0JHWV0DTD60</lei>
        <title>SPOTIFY TECHNOLOGY SA COMMON STOCK EUR.000625</title>
        <cusip>L8681T102</cusip>
        <identifiers>
          <isin value="LU1778762911"/>
        </identifiers>
        <balance>14153.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6498066.890000</valUSD>
        <pctVal>0.6333873266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET INS US GO MM FD-IS</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>STATE STREET INSTITUTIONAL US STATE ST INST US GOV MM PREM</title>
        <cusip>857492706</cusip>
        <identifiers>
          <isin value="US8574927062"/>
        </identifiers>
        <balance>53113676.600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53113676.600000</valUSD>
        <pctVal>5.1771596377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STRYKER CORP</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>STRYKER CORP COMMON STOCK USD.1</title>
        <cusip>863667101</cusip>
        <identifiers>
          <isin value="US8636671013"/>
        </identifiers>
        <balance>15597.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4910559.480000</valUSD>
        <pctVal>0.4786479108</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE US INC</name>
        <lei>549300QHIJYOHPACPG31</lei>
        <title>T MOBILE US INC COMMON STOCK USD.0001</title>
        <cusip>872590104</cusip>
        <identifiers>
          <isin value="US8725901040"/>
        </identifiers>
        <balance>10195.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1710007.350000</valUSD>
        <pctVal>0.1666798761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAIWAN SEMICONDUCTOR-SP ADR</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>TAIWAN SEMICONDUCTOR SP ADR ADR</title>
        <cusip>874039100</cusip>
        <identifiers>
          <isin value="US8740391003"/>
        </identifiers>
        <balance>21749.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10386669.930000</valUSD>
        <pctVal>1.0124218803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TELEDYNE TECHNOLOGIES INC</name>
        <lei>549300VSMO9KYQWDND94</lei>
        <title>TELEDYNE TECHNOLOGIES INC COMMON STOCK USD.01</title>
        <cusip>879360105</cusip>
        <identifiers>
          <isin value="US8793601050"/>
        </identifiers>
        <balance>6940.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4628286.000000</valUSD>
        <pctVal>0.4511338135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TESLA INC</name>
        <lei>54930043XZGB27CTOV49</lei>
        <title>TESLA INC COMMON STOCK USD.001</title>
        <cusip>88160R101</cusip>
        <identifiers>
          <isin value="US88160R1014"/>
        </identifiers>
        <balance>67327.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28317736.200000</valUSD>
        <pctVal>2.7602201593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THERMO FISHER SCIENTIFIC INC</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0</title>
        <cusip>883556102</cusip>
        <identifiers>
          <isin value="US8835561023"/>
        </identifiers>
        <balance>2828.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1417846.080000</valUSD>
        <pctVal>0.1382019843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRADEWEB MARKETS INC-CLASS A</name>
        <lei>N/A</lei>
        <title>TRADEWEB MARKETS INC CLASS A COMMON STOCK USD.00001</title>
        <cusip>892672106</cusip>
        <identifiers>
          <isin value="US8926721064"/>
        </identifiers>
        <balance>8893.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>886276.380000</valUSD>
        <pctVal>0.0863881884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRANSDIGM GROUP INC</name>
        <lei>N/A</lei>
        <title>TRANSDIGM GROUP INC COMMON STOCK USD.01</title>
        <cusip>893641100</cusip>
        <identifiers>
          <isin value="US8936411003"/>
        </identifiers>
        <balance>1536.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2046013.440000</valUSD>
        <pctVal>0.1994314624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRS - SECURITY LENDING COLLATERAL</name>
        <lei>5493002Y0IYARJVQ5N24</lei>
        <title>TREASURY RESERVE FUND - Collateral</title>
        <cusip>76105YYY9</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="76105YYY9"/>
        </identifiers>
        <balance>7515.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7515.000000</valUSD>
        <pctVal>0.0007325110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="7515.000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GROUP INC</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP INC COMMON STOCK USD.01</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <isin value="US91324P1021"/>
        </identifiers>
        <balance>10286.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4275170.180000</valUSD>
        <pctVal>0.4167144871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERTIV HOLDINGS CO-A</name>
        <lei>549300KTTIRAOGXCRV69</lei>
        <title>VERTIV HOLDINGS CO A COMMON STOCK USD.0001</title>
        <cusip>92537N108</cusip>
        <identifiers>
          <isin value="US92537N1081"/>
        </identifiers>
        <balance>19550.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6545731.000000</valUSD>
        <pctVal>0.6380332996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VISA INC-CLASS A SHARES</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>VISA INC CLASS A SHARES COMMON STOCK USD.0001</title>
        <cusip>92826C839</cusip>
        <identifiers>
          <isin value="US92826C8394"/>
        </identifiers>
        <balance>65617.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22512536.530000</valUSD>
        <pctVal>2.1943688128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLTOWER INC</name>
        <lei>254900F33BIAR82QTA19</lei>
        <title>WELLTOWER INC REIT USD1.0</title>
        <cusip>95040Q104</cusip>
        <identifiers>
          <isin value="US95040Q1040"/>
        </identifiers>
        <balance>25912.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5881246.640000</valUSD>
        <pctVal>0.5732638874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-04</ncom:dateSigned>
      <ncom:nameOfApplicant>T. Rowe Price Exchange-Traded Funds, Inc.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Alan Dupski</ncom:signature>
      <ncom:signerName>Alan Dupski</ncom:signerName>
      <ncom:title>Treasurer &amp; Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
