PGIM S&P 500 Buffer 12 ETF - July
Schedule of Investments  (unaudited)
as of July 31, 2025
Description     Shares Value
Short-Term Investments 104.4%
Affiliated Mutual Fund 1.0%          
PGIM Core Government Money Market Fund (7-day effective yield 4.492%)
(cost $143,182)(wb)
    143,182  $143,182
Options Purchased*~ 103.4%          
(cost $13,996,276) 14,182,221
     
 
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN104.4%
(cost $14,139,458)
        14,325,403
Options Written*~ (4.2)%
(premiums received $582,669) (584,073)
 
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN100.2%
(cost $13,556,789)
13,741,330
Liabilities in excess of other assets(z) (0.2)% (23,521)
 
Net Assets 100.0% $13,717,809

Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
    
ETF—Exchange-Traded Fund
S&P—Standard & Poor’s
SPDR—Standard & Poor’s Depositary Receipts
    
* Non-income producing security.
# Principal or notional amount is shown in U.S. dollars unless otherwise stated.
~ See tables subsequent to the Schedule of Investments for options detail. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments.
(wb) Represents an investment in a Fund affiliated with the Manager. 
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
Options Purchased:
Exchange Traded  
Description Call/
Put
  Expiration
Date
  Strike Contracts   Notional
Amount
(000)#
  Value
SPDR S&P 500 ETF Trust Call   06/30/26     $6.18   219       22  $13,590,702  
SPDR S&P 500 ETF Trust Put   06/30/26     $617.85   219       22 591,519  
Total Options Purchased (cost $13,996,276)     $14,182,221  
Options Written:
Exchange Traded  
Description Call/
Put
  Expiration
Date
  Strike Contracts   Notional
Amount
(000)#
  Value
SPDR S&P 500 ETF Trust Call   06/30/26     $703.79   219       22  $(290,394)  
SPDR S&P 500 ETF Trust Put   06/30/26     $543.71   219       22 (293,679)  
Total Options Written (premiums received $582,669)     $(584,073)  
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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