PGIM Corporate Bond 10+ Year ETF
Schedule of Investments  (unaudited)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Long-Term Investments 96.9%
Corporate Bonds 91.5%
Aerospace & Defense 3.3%
Boeing Co. (The),
Sr. Unsec’d. Notes 		5.930 % 05/01/60   1,635  $1,618,481
Honeywell Aerospace, Inc.,
Gtd. Notes, 144A 		5.622 03/16/46   300 299,125
RTX Corp.,
Sr. Unsec’d. Notes 		4.500 06/01/42   615 549,203
          2,466,809
Auto Parts & Equipment 0.4%
Aptiv Swiss Holdings Ltd.,
Gtd. Notes 		3.100 12/01/51   445 273,217
Banks 15.5%
Bank of America Corp.,
Sr. Unsec’d. Notes, MTN 		4.083(ff) 03/20/51   1,810 1,429,162
Barclays PLC (United Kingdom),
Sr. Unsec’d. Notes 		5.785(ff) 02/25/36   400 408,060
BNP Paribas SA (France),
Sr. Non-Preferred Notes, 144A 		3.132(ff) 01/20/33   400 360,574
Citigroup, Inc.,          
Sub. Notes 5.827(ff) 02/13/35   1,125 1,147,514
Sub. Notes 6.020(ff) 01/24/36   570 587,010
     
 
Goldman Sachs Group, Inc. (The),
Sr. Unsec’d. Notes 		5.541(ff) 01/21/47   1,000 964,835
Intesa Sanpaolo SpA (Italy),
Sr. Preferred Notes, 144A 		7.800 11/28/53   200 239,077
JPMorgan Chase & Co.,
Sr. Unsec’d. Notes 		5.400 01/06/42   2,355 2,336,631
Mitsubishi UFJ Financial Group, Inc. (Japan),
Sr. Unsec’d. Notes 		5.868(ff) 04/21/47   235 238,250
Mizuho Bank Ltd. (Japan),
Sr. Unsec’d. Notes, 144A 		5.772 04/16/46   200 200,167
Morgan Stanley,          
Sr. Unsec’d. Notes 3.217(ff) 04/22/42   1,060 809,020
Sr. Unsec’d. Notes, MTN 2.802(ff) 01/25/52   1,750 1,090,999
     
 
Wells Fargo & Co.,
Sr. Unsec’d. Notes 		3.068(ff) 04/30/41   2,630 1,996,418
          11,807,717
Beverages 1.1%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium),
Gtd. Notes 		4.900 02/01/46   880 804,589
Biotechnology 1.7%
Amgen, Inc.,
Sr. Unsec’d. Notes 		5.650 03/02/53   1,295 1,258,661
Building Materials 0.4%
Owens Corning,
Sr. Unsec’d. Notes 		7.000 12/01/36   275 309,097
Chemicals 1.0%
CF Industries, Inc.,
Gtd. Notes 		5.375 03/15/44   240 226,891
1
PGIM Corporate Bond 10+ Year ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Chemicals (cont’d.)
Nutrien Ltd. (Canada),
Sr. Unsec’d. Notes 		4.900 % 06/01/43   381  $341,398
Sherwin-Williams Co. (The),
Sr. Unsec’d. Notes 		4.000 12/15/42   275 222,069
          790,358
Commercial Services 1.7%
Duke University,
Unsec’d. Notes, Series 2020 		2.832 10/01/55   215 134,213
Massachusetts Institute of Technology,
Sr. Unsec’d. Notes 		5.618 06/01/55   450 457,965
President & Fellows of Harvard College,
Unsec’d. Notes 		2.517 10/15/50   730 442,934
Trustees of Princeton University (The),
Unsec’d. Notes 		4.201 03/01/52   155 127,161
Washington University (The),
Sr. Unsec’d. Notes 		4.349 04/15/2122   175 131,583
          1,293,856
Computers 0.8%
Apple, Inc.,
Sr. Unsec’d. Notes 		3.850 05/04/43   645 537,634
International Business Machines Corp.,
Sr. Unsec’d. Notes 		5.800 02/03/56   100 97,594
          635,228
Electric 14.4%
AEP Texas, Inc.,
Sr. Unsec’d. Notes, Series H 		3.450 01/15/50   510 347,279
AEP Transmission Co. LLC,
Sr. Unsec’d. Notes 		3.800 06/15/49   510 380,268
Ameren Illinois Co.,
First Mortgage 		5.625 03/01/55   610 597,289
Commonwealth Edison Co.,          
First Mortgage 3.800 10/01/42   140 112,837
First Mortgage 4.000 03/01/49   910 705,662
First Mortgage 5.850 06/01/56   100 100,676
     
 
Dominion Energy South Carolina, Inc.,
First Mortgage 		6.250 10/15/53   500 535,963
DTE Electric Co.,
General Ref. Mortgage 		3.750 08/15/47   615 467,105
Duke Energy Indiana LLC,
First Mortgage 		5.400 04/01/53   615 580,412
Duke Energy Ohio, Inc.,
First Mortgage 		5.550 03/15/54   1,060 1,020,351
Entergy Louisiana LLC,
First Mortgage 		3.100 06/15/41   680 513,674
FirstEnergy Corp.,
Sr. Unsec’d. Notes, Series C 		4.850 07/15/47   445 385,943
Florida Power & Light Co.,
First Mortgage 		4.125 02/01/42   1,465 1,248,103
Kentucky Utilities Co.,
First Mortgage 		5.850 08/15/55   35 35,119
Louisville Gas & Electric Co.,
First Mortgage 		5.850 08/15/55   40 40,330
Nevada Power Co.,
General Ref. Mortgage 		6.000 03/15/54   615 622,804
2
PGIM Corporate Bond 10+ Year ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Electric (cont’d.)
     
Northern States Power Co.,
First Mortgage 		5.650 % 06/15/54   955  $942,760
NSTAR Electric Co.,
Sr. Unsec’d. Notes 		4.950 09/15/52   340 302,823
Pacific Gas & Electric Co.,
First Mortgage 		3.950 12/01/47   400 293,529
Public Service Co. of Colorado,          
First Mortgage 5.850 05/15/55   270 270,684
First Mortgage, Series 39 4.500 06/01/52   85 69,849
     
 
San Diego Gas & Electric Co.,
First Mortgage 		5.350 04/01/53   292 272,855
SCE Recovery Funding LLC,          
Sr. Sec’d. Notes 5.341 03/15/47   74 73,101
Sr. Sec’d. Notes 5.541 09/15/52   40 39,416
     
 
Southern California Edison Co.,
First Mortgage, Series 20A 		2.950 02/01/51   1,265 760,094
Vistra Operations Co. LLC,
Gtd. Notes, 144A 		5.250 10/15/35   245 238,143
          10,957,069
Foods 1.3%
JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. Holdings,
Sr. Unsec’d. Notes, 144A 		6.400 05/10/57   420 416,701
Mars, Inc.,
Sr. Unsec’d. Notes, 144A 		5.700 05/01/55   615 606,491
          1,023,192
Healthcare-Products 0.3%
Abbott Laboratories,          
Sr. Unsec’d. Notes 5.500 03/15/56   100 97,568
Sr. Unsec’d. Notes 5.600 03/15/66   95 92,480
          190,048
Healthcare-Services 7.0%
Children’s Hospital of Philadelphia (The),
Sec’d. Notes, Series 2020 		2.704 07/01/50   155 95,944
Cigna Group (The),
Sr. Unsec’d. Notes 		3.400 03/15/50   785 543,141
Elevance Health, Inc.,
Sr. Unsec’d. Notes 		5.100 01/15/44   785 724,721
Humana, Inc.,
Sr. Unsec’d. Notes 		3.950 08/15/49   455 327,534
Inova Health System Foundation,
Unsec’d. Notes 		4.068 05/15/52   250 196,309
Kaiser Foundation Hospitals,
Unsec’d. Notes, Series 2021 		3.002 06/01/51   560 361,912
Mayo Clinic,
Unsec’d. Notes, Series 2021 		3.196 11/15/61   250 157,249
OhioHealth Corp.,
Unsec’d. Notes, Series 2020 		3.042 11/15/50   235 156,390
Orlando Health Obligated Group,
Sr. Unsec’d. Notes 		5.475 10/01/35   90 92,444
Roche Holdings, Inc.,
Gtd. Notes, 144A 		2.607 12/13/51   200 121,319
Sentara Health,
Sr. Unsec’d. Notes, Series 2021 		2.927 11/01/51   216 136,883
3
PGIM Corporate Bond 10+ Year ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Healthcare-Services (cont’d.)
Stanford Health Care,
Unsec’d. Notes 		3.027 % 08/15/51   500  $324,252
Sutter Health,
Unsec’d. Notes 		5.547 08/15/53   95 93,124
UnitedHealth Group, Inc.,
Sr. Unsec’d. Notes 		4.750 05/15/52   2,355 2,022,021
          5,353,243
Insurance 4.9%
Arch Capital Group Ltd.,
Sr. Unsec’d. Notes 		3.635 06/30/50   445 326,357
Chubb INA Holdings LLC,
Gtd. Notes 		3.050 12/15/61   275 168,032
Everest Reinsurance Holdings, Inc.,
Sr. Unsec’d. Notes 		3.125 10/15/52   445 277,299
Fairfax Financial Holdings Ltd. (Canada),
Sr. Unsec’d. Notes 		5.750 05/20/35   1,450 1,484,272
Liberty Mutual Group, Inc.,
Gtd. Notes, 144A 		5.500 06/15/52   340 317,776
Markel Group, Inc.,
Sr. Unsec’d. Notes 		3.450 05/07/52   381 255,451
Unum Group,
Sr. Unsec’d. Notes 		6.000 06/15/54   615 607,969
W.R. Berkley Corp.,
Sr. Unsec’d. Notes 		3.550 03/30/52   381 265,051
          3,702,207
Internet 3.9%
Alphabet, Inc.,          
Sr. Unsec’d. Notes 5.500 02/15/46   40 39,586
Sr. Unsec’d. Notes 5.650 02/15/56   65 64,515
Sr. Unsec’d. Notes 5.750 02/15/66   880 872,997
     
 
Amazon.com, Inc.,
Sr. Unsec’d. Notes 		5.650 03/13/46   600 598,731
Beignet Investor LLC,
Sr. Sec’d. Notes, 144A 		6.581 05/30/49   316 325,038
Meta Platforms, Inc.,          
Sr. Unsec’d. Notes 5.750 11/15/65   490 448,291
Sr. Unsec’d. Notes 6.200 05/15/46   75 75,767
Sr. Unsec’d. Notes 6.450 05/15/66   550 553,418
          2,978,343
Machinery-Construction & Mining 0.2%
Vertiv Holdings Co.,          
Sr. Unsec’d. Notes 5.650 03/15/46   50 48,703
Sr. Unsec’d. Notes 5.800 03/15/56   20 19,723
Sr. Unsec’d. Notes 5.950 03/15/66   120 118,273
          186,699
Media 3.2%
Charter Communications Operating LLC/Charter Communications Operating Capital,
Sr. Sec’d. Notes 		4.400 12/01/61   2,235 1,431,678
Comcast Corp.,
Gtd. Notes 		2.937 11/01/56   1,825 1,023,347
          2,455,025
4
PGIM Corporate Bond 10+ Year ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Mining 0.5%
Barrick North America Finance LLC (Canada),
Gtd. Notes 		5.750 % 05/01/43   340  $343,469
Oil & Gas 6.1%
Aker BP ASA (Norway),
Sr. Unsec’d. Notes, 144A 		5.800 10/01/54   500 469,108
Canadian Natural Resources Ltd. (Canada),
Sr. Unsec’d. Notes 		5.850 02/01/35   1,465 1,524,731
Cenovus Energy, Inc. (Canada),
Sr. Unsec’d. Notes 		3.750 02/15/52   445 319,377
ConocoPhillips Co.,          
Gtd. Notes 4.025 03/15/62   680 497,198
Gtd. Notes 5.650 01/15/65   100 96,615
     
 
Diamondback Energy, Inc.,
Gtd. Notes 		5.750 04/18/54   340 334,181
Marathon Petroleum Corp.,
Sr. Unsec’d. Notes 		6.500 03/01/41   340 365,537
Ovintiv, Inc.,
Gtd. Notes 		7.100 07/15/53   340 377,233
Phillips 66 Co.,
Gtd. Notes 		4.900 10/01/46   290 253,906
Var Energi ASA (Norway),
Sr. Unsec’d. Notes, 144A 		6.500 05/22/35   400 424,293
          4,662,179
Pharmaceuticals 3.1%
AbbVie, Inc.,
Sr. Unsec’d. Notes 		5.600 03/15/55   955 943,796
CVS Health Corp.,
Sr. Unsec’d. Notes 		5.625 02/21/53   510 476,867
Eli Lilly & Co.,          
Sr. Unsec’d. Notes 4.875 02/27/53   30 27,168
Sr. Unsec’d. Notes 4.950 02/27/63   275 244,658
Sr. Unsec’d. Notes 5.650 10/15/65   25 24,882
Sr. Unsec’d. Notes 5.700 05/20/66   65 65,204
     
 
Mylan, Inc.,
Gtd. Notes 		5.200 04/15/48   445 365,715
Novartis Capital Corp.,
Gtd. Notes 		5.600 03/18/46   40 40,433
Takeda US Financing, Inc.,
Gtd. Notes 		5.200 07/07/35   200 200,362
          2,389,085
Pipelines 7.4%
Columbia Pipelines Operating Co. LLC,
Sr. Unsec’d. Notes, 144A 		5.695 10/01/54   275 261,085
Energy Transfer LP,
Sr. Unsec’d. Notes 		4.950 01/15/43   1,200 1,061,009
Enterprise Products Operating LLC,
Gtd. Notes(k) 		4.850 08/15/42   1,295 1,191,397
MPLX LP,
Sr. Unsec’d. Notes 		4.700 04/15/48   890 740,951
ONEOK, Inc.,
Gtd. Notes 		6.625 09/01/53   790 829,953
Targa Resources Corp.,          
Gtd. Notes 6.050 05/15/56   135 134,062
Gtd. Notes 6.125 05/15/55   205 205,791
5
PGIM Corporate Bond 10+ Year ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Pipelines (cont’d.)
     
 
Williams Cos., Inc. (The),
Sr. Unsec’d. Notes 		5.800 % 11/15/54   1,235  $1,206,590
          5,630,838
Real Estate Investment Trusts (REITs) 1.3%
Alexandria Real Estate Equities, Inc.,
Gtd. Notes 		5.250 03/15/36   680 667,086
Prologis LP,
Sr. Unsec’d. Notes 		2.125 10/15/50   590 315,528
          982,614
Retail 1.2%
Home Depot, Inc. (The),
Sr. Unsec’d. Notes 		3.625 04/15/52   530 380,970
Lowe’s Cos., Inc.,
Sr. Unsec’d. Notes 		5.850 04/01/63   125 121,810
McDonald’s Corp.,
Sr. Unsec’d. Notes, MTN 		4.450 03/01/47   445 374,695
          877,475
Semiconductors 2.4%
Broadcom, Inc.,          
Gtd. Notes 3.500 02/15/41   890 712,279
Sr. Unsec’d. Notes 4.900 02/15/38   390 376,589
     
 
Foundry JV Holdco LLC,
Sr. Sec’d. Notes, 144A 		6.300 01/25/39   200 211,490
Intel Corp.,
Sr. Unsec’d. Notes 		3.734 12/08/47   675 489,264
          1,789,622
Software 4.0%
Microsoft Corp.,
Sr. Unsec’d. Notes 		2.675 06/01/60   1,490 835,308
Oracle Corp.,          
Sr. Unsec’d. Notes 3.600 04/01/50   875 544,488
Sr. Unsec’d. Notes 3.650 03/25/41   825 602,460
Sr. Unsec’d. Notes 5.375 09/27/54   90 72,128
Sr. Unsec’d. Notes 6.550 02/04/46   50 48,146
Sr. Unsec’d. Notes 6.700 02/04/56   35 33,707
Sr. Unsec’d. Notes 6.850 02/04/66   320 307,295
Salesforce, Inc.,          
Sr. Unsec’d. Notes 6.400 03/15/46   200 203,604
Sr. Unsec’d. Notes 6.550 03/15/56   360 367,275
          3,014,411
Telecommunications 3.6%
AT&T, Inc.,
Sr. Unsec’d. Notes 		3.550 09/15/55   2,525 1,647,475
HUT 8 DC LLC,
Sr. Sec’d. Notes, 144A 		6.192 11/15/42   85 85,904
6
PGIM Corporate Bond 10+ Year ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
Corporate Bonds (Continued)
Telecommunications (cont’d.)
T-Mobile USA, Inc.,
Gtd. Notes 		3.300 % 02/15/51   680  $449,823
Verizon Communications, Inc.,
Sr. Unsec’d. Notes 		3.000 11/20/60   890 518,024
          2,701,226
Transportation 0.4%
Norfolk Southern Corp.,
Sr. Unsec’d. Notes 		3.700 03/15/53   445 318,444
Water 0.4%
American Water Capital Corp.,
Sr. Unsec’d. Notes 		4.200 09/01/48   420 337,131
     
 
Total Corporate Bonds
(cost $69,587,329) 		69,531,852
Municipal Bonds 1.3%
California 0.3%
Regents of the University of California Medical Center Pooled Revenue,
Taxable, Revenue Bonds, Series N 		3.256 05/15/60   150 94,414
University of California,
Taxable, Revenue Bonds, Series AQ 		4.767 05/15/2115   155 125,304
          219,718
District of Columbia 0.2%
District of Columbia Water & Sewer Authority,
Taxable, Revenue Bonds, Series A 		4.814 10/01/2114   195 159,965
Maryland 0.1%
Maryland Economic Development Corp.,
Taxable, Revenue Bonds 		5.433 05/31/56   125 120,807
Michigan 0.2%
University of Michigan,
Taxable, Revenue Bonds, Series A 		4.454 04/01/2122   160 123,906
Minnesota 0.2%
University of Minnesota,
Taxable, Revenue Bonds 		4.048 04/01/52   161 128,390
New York 0.2%
Port Authority of New York & New Jersey,
Consolidated, Taxable, Revenue Bonds, Series 174 		4.458 10/01/62   155 127,183
Pennsylvania 0.1%
Pennsylvania State University (The),
Taxable, Revenue Bonds, Series D 		2.840 09/01/50   120 79,500
     
 
Total Municipal Bonds
(cost $965,406) 		959,469
U.S. Treasury Obligations 4.1%
U.S. Treasury Bonds 4.625 11/15/45   1,025 979,676
U.S. Treasury Bonds(k) 4.750 02/15/45   1,635 1,592,081
7
PGIM Corporate Bond 10+ Year ETF
Schedule of Investments  (unaudited) (continued)
as of May 31, 2026
Description Interest
Rate 		Maturity
Date 		Principal Amount
(000)# 		Value
U.S. Treasury Obligations (Continued)
U.S. Treasury Bonds 5.000 % 05/15/45   535  $537,173
     
 
Total U.S. Treasury Obligations
(cost $3,121,551) 		3,108,930
 
Total Long-Term Investments
(cost $73,674,286) 		73,600,251
    
      Shares  
Short-Term Investment 2.3%
Affiliated Mutual Fund           
PGIM Core Government Money Market Fund (7-day effective yield 3.757%)
(cost $1,729,759)(wb) 		    1,729,759 1,729,759
 
TOTAL INVESTMENTS 99.2%
(cost $75,404,045) 		75,330,010
Other assets in excess of liabilities 0.8% 629,955
 
Net Assets 100.0% $75,959,965
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.
  LP—Limited Partnership
  MTN—Medium Term Note
  REITs—Real Estate Investment Trust
    
# Principal amount is shown in U.S. dollars unless otherwise stated.
(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.
(wb) Represents an investment in a Fund affiliated with the Manager. 
Futures contracts outstanding at May 31, 2026:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
24   10 Year U.S. Ultra Treasury Notes   Sep. 2026    $2,689,875    $16,949
57   20 Year U.S. Treasury Bonds   Sep. 2026   6,396,469   78,935
                95,884
Short Positions:
1   2 Year U.S. Treasury Notes   Sep. 2026   206,563   (423)
2   5 Year U.S. Treasury Notes   Sep. 2026   214,422   (268)
31   10 Year U.S. Treasury Notes   Sep. 2026   3,404,672   (25,211)
36   30 Year U.S. Ultra Treasury Bonds   Sep. 2026   4,118,625   (62,266)
                (88,168)
                $7,716
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).
8