# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000869392-23-000704
**Filing Date:** 2023-3
**Character Count:** 45786
**Document Hash:** 06beb59633a246dda93e51d86a8a6334
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000704.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0000869392-23-000704

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Putnam ETF Trust
- **CENTRAL INDEX KEY:** 0001845809
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23643
- **FILM NUMBER:** 23774688

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02111
- **BUSINESS PHONE:** 6177601060

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02111

## Series and Classes Contracts Data

### Putnam ESG Ultra Short ETF (Series ID: S000077299)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000237596 | -            |  |

## Nport-Ex

------

---

| |
|:---|
| **Putnam ESG Ultra Short ETF** |
| **The fund's portfolio** |
| **1/31/23 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS AND NOTES (72.8%)***<sup>(a)</sup>*** | **CORPORATE BONDS AND NOTES (72.8%)***<sup>(a)</sup>*** | **CORPORATE BONDS AND NOTES (72.8%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| **Banking (41.5%)** | **Banking (41.5%)** | **Banking (41.5%)** |
| Bank of America Corp. sr. unsec. FRN Ser. GMTN, (ICE LIBOR USD 3 Month + 0.96%), 5.775%, 7/23/24 | $100000 | $100261 |
| Bank of America Corp. sr. unsec. unsub. FRN Ser. MTN, 3.458%, 3/15/25 | 100000 | 98063 |
| Bank of Montreal sr. unsec. unsub. FRN Ser. MTN, (US SOFR Compounded Index + 0.71%), 4.984%, 3/8/24 (Canada) | 100000 | 100157 |
| Bank of Montreal sr. unsec. unsub. FRN Ser. MTN, (US SOFR Compounded Index + 0.32%), 4.644%, 7/9/24 (Canada) | 100000 | 99612 |
| Bank of Nova Scotia (The) sr. unsec. notes 1.625%, 5/1/23 (Canada) | 100000 | 99217 |
| Bank of Nova Scotia (The) sr. unsec. unsub. FRN (US SOFR + 0.38%), 4.559%, 7/31/24 (Canada) | 100000 | 99619 |
| Barclays PLC sr. unsec. unsub. FRN 1.007%, 12/10/24 (United Kingdom) | 250000 | 240556 |
| BNP Paribas SA 144A sr. unsec. unsub. notes 3.50%, 3/1/23 (France) | 200000 | 199797 |
| Canadian Imperial Bank of Commerce sr. unsec. unsub. FRN (US SOFR Compounded Index + 0.42%), 4.743%, 10/18/24 (Canada) | 100000 | 99555 |
| Cooperatieve Rabobank UA 144A sr. unsec. unsub. notes 3.875%, 9/26/23 (Netherlands) | 250000 | 248313 |
| Credit Agricole SA/London 144A sr. unsec. unsub. notes 3.25%, 10/4/24 (United Kingdom) | 250000 | 242741 |
| ING Groep NV sr. unsec. notes 4.10%, 10/2/23 (Netherlands) | 200000 | 198737 |
| Intesa Sanpaolo SpA company guaranty sr. unsec. notes 5.25%, 1/12/24 (Italy) | 200000 | 199578 |
| JPMorgan Chase & Co. sr. unsec. unsub. FRN (ICE LIBOR USD 3 Month + 0.89%), 5.705%, 7/23/24 | 100000 | 100241 |
| JPMorgan Chase & Co. sr. unsec. unsub. FRN (US SOFR + 0.58%), 4.899%, 3/16/24 | 100000 | 100021 |
| Mitsubishi UFJ Financial Group, Inc. sr. unsec. FRN (ICE LIBOR USD 3 Month + 0.86%), 5.682%, 7/26/23 (Japan) | 100000 | 100244 |
| Mizuho Financial Group, Inc. sr. unsec. FRN 1.241%, 7/10/24 (Japan) | 200000 | 196224 |
| PNC Financial Services Group, Inc. (The) sr. unsec. unsub. FRN 4.758%, 1/26/27 | 100000 | 100163 |
| Sumitomo Mitsui Financial Group, Inc. sr. unsec. FRN (ICE LIBOR USD 3 Month + 0.80%), 5.592%, 10/16/23 (Japan) | 100000 | 100209 |
| Toronto-Dominion Bank (The) sr. unsec. unsub. FRN Ser. MTN, (US SOFR + 0.91%), 5.184%, 3/8/24 (Canada) | 100000 | 100394 |
| UBS Group AG 144A sr. unsec. FRN 4.49%, 8/5/25 (Switzerland) | 200000 | 198056 |
| Westpac Banking Corp. sr. unsec. unsub. FRN (US SOFR + 0.30%), 4.467%, 11/18/24 (Australia) | 100000 | 99639 |
|  |  | **3121397** |
| **Capital goods (2.0%)** | **Capital goods (2.0%)** | **Capital goods (2.0%)** |
| Daimler Trucks Finance North America, LLC 144A company guaranty sr. unsec. FRN (US SOFR + 1.00%), 5.324%, 4/5/24 | 150000 | 150054 |
|  |  | **150054** |
| **Communication services (4.6%)** | **Communication services (4.6%)** | **Communication services (4.6%)** |
| American Tower Corp. sr. unsec. notes 0.60%, 1/15/24***<sup>(R)</sup>*** | 100000 | 95878 |
| AT&T, Inc. sr. unsec. FRN (ICE LIBOR USD 3 Month + 1.18%), 5.915%, 6/12/24 | 150000 | 151592 |
| Verizon Communications, Inc. sr. unsec. unsub. FRN (ICE LIBOR USD 3 Month + 1.10%), 5.706%, 5/15/25 | 100000 | 101345 |
|  |  | **348815** |
| **Consumer cyclicals (6.9%)** | **Consumer cyclicals (6.9%)** | **Consumer cyclicals (6.9%)** |
| BMW US Capital, LLC 144A company guaranty sr. unsec. FRN (US SOFR + 0.84%), 3.82%, 4/1/25 | 74000 | 73821 |
| General Motors Financial Co., Inc. company guaranty sr. unsec. notes 4.25%, 5/15/23 | 100000 | 99797 |
| Mercedes-Benz Finance North America, LLC 144A company guaranty sr. unsec. notes 1.75%, 3/10/23 | 150000 | 149529 |
| Volkswagen Group of America Finance, LLC 144A company guaranty sr. unsec. notes 0.875%, 11/22/23 | 200000 | 192997 |
|  |  | **516144** |
| **Financial (1.3%)** | **Financial (1.3%)** | **Financial (1.3%)** |
| Macquarie Group, Ltd. 144A sr. unsec. unsub. notes 6.207%, 11/22/24 (Australia) | 100000 | 101952 |
|  |  | **101952** |
| **Insurance (2.7%)** | **Insurance (2.7%)** | **Insurance (2.7%)** |
| MassMutual Global Funding II 144A FRN (US SOFR + 0.36%), 4.683%, 4/12/24 | 200000 | 199851 |
|  |  | **199851** |
| **Investment banking/Brokerage (4.6%)** | **Investment banking/Brokerage (4.6%)** | **Investment banking/Brokerage (4.6%)** |
| Deutsche Bank AG sr. unsec. unsub. notes Ser. E, 0.962%, 11/8/23 (Germany) | 150000 | 145446 |
| Goldman Sachs Group, Inc. (The) sr. unsec. unsub. FRN (US SOFR + 0.50%), 4.789%, 9/10/24 | 100000 | 99675 |
| Morgan Stanley sr. unsec. unsub. FRN Ser. GMTN, (ICE LIBOR USD 3 Month + 1.22%), 5.77%, 5/8/24 | 100000 | 100221 |
|  |  | **345342** |
| **Real estate (6.6%)** | **Real estate (6.6%)** | **Real estate (6.6%)** |
| AvalonBay Communities, Inc. sr. unsec. notes Ser. GMTN, 2.85%, 3/15/23***<sup>(R)</sup>*** | 100000 | 99783 |
| Boston Properties, LP sr. unsec. unsub. notes 3.80%, 2/1/24***<sup>(R)</sup>*** | 100000 | 98604 |
| Public Storage sr. unsec. FRN (US SOFR + 0.47%), 4.793%, 4/23/24 | 100000 | 99713 |
| Realty Income Corp. sr. unsec. unsub. notes 5.05%, 1/13/26***<sup>(R)</sup>*** | 100000 | 100275 |
| Simon Property Group LP sr. unsec. unsub. FRN (US SOFR Compounded Index + 0.43%), 4.753%, 1/11/24***<sup>(R)</sup>*** | 100000 | 99389 |
|  |  | **497764** |
| **Utilities and power (2.6%)** | **Utilities and power (2.6%)** | **Utilities and power (2.6%)** |
| American Electric Power Co., Inc. jr. unsec. sub. notes 2.031%, 3/15/24 | 100000 | 96630 |
| Enbridge, Inc. company guaranty sr. unsec. notes 0.55%, 10/4/23 (Canada) | 100000 | 97022 |
|  |  | **193652** |
| **Total corporate bonds and notes (cost $5,473,700)** |  | **$5474971** |

---

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| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES (0.5%)***<sup>(a)</sup>*** | **ASSET-BACKED SECURITIES (0.5%)***<sup>(a)</sup>*** | **ASSET-BACKED SECURITIES (0.5%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| Ford Credit Auto Owner Trust Ser. 20-C, Class A3, 0.41%, 7/15/25 | $39894 | $38764 |
| **Total asset-backed securities (cost $38,666)** |  | **$38764** |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| **COMMERCIAL PAPER (26.1%)***<sup>(a)</sup>*** | **COMMERCIAL PAPER (26.1%)***<sup>(a)</sup>*** | **COMMERCIAL PAPER (26.1%)***<sup>(a)</sup>*** | **COMMERCIAL PAPER (26.1%)***<sup>(a)</sup>*** | **COMMERCIAL PAPER (26.1%)***<sup>(a)</sup>*** |
| | **Yield (%)** | **Maturity date** | **Principal amount** | **Value** |
| American Honda Finance Corp. | 5.016 | 3/13/23 | $100000 | $99455 |
| Autonation, Inc. | 4.851 | 2/1/23 | 300000 | 299960 |
| Aviation Capital Group, LLC | 4.981 | 2/1/23 | 300000 | 299963 |
| Conagra Brands, Inc. | 4.851 | 2/1/23 | 250000 | 249966 |
| Crown Castle, Inc. | 4.965 | 2/7/23 | 250000 | 249757 |
| Eastman Chemical Co. | 4.654 | 2/2/23 | 250000 | 249937 |
| Oracle Corp. | 4.656 | 2/9/23 | 250000 | 249706 |
| Targa Resources Corp. | 5.051 | 2/1/23 | 264000 | 263969 |
| **Total commercial paper (cost $1,962,950)** |  |  |  | **$1962713** |
| **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** |
| **Total investments (cost $7,475,316)** |  |  |  | **$7476448** |

---

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| | | |
|:---|:---|:---|
|  | ***Key to holding's abbreviations*** | ***Key to holding's abbreviations*** |
| FRN | Floating Rate Notes: The rate shown is the current interest rate or yield at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period. | Floating Rate Notes: The rate shown is the current interest rate or yield at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period. |
| GMTN | Global Medium Term Notes | Global Medium Term Notes |
| ICE | Intercontinental Exchange | Intercontinental Exchange |
| LIBOR | London Interbank Offered Rate | London Interbank Offered Rate |
| MTN | Medium Term Notes | Medium Term Notes |
| SOFR | Secured Overnight Financing Rate | Secured Overnight Financing Rate |
|  | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** |
|  | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from January 19, 2023 (commencement of operations) through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from January 19, 2023 (commencement of operations) through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. |
| ***<sup>(a)</sup>*** | Percentages indicated are based on net assets of $7,515,920. | Percentages indicated are based on net assets of $7,515,920. |
| ***<sup>(NON)</sup>*** | This security is non-income-producing. | This security is non-income-producing. |
| ***<sup>(R)</sup>*** | Real Estate Investment Trust. | Real Estate Investment Trust. |
|  | Debt obligations are considered secured unless otherwise indicated. | Debt obligations are considered secured unless otherwise indicated. |
|  | The dates shown on debt obligations are the original maturity dates. | The dates shown on debt obligations are the original maturity dates. |
|  | Unless otherwise noted, the rates quoted in Short-term investments security descriptions represent the weighted average yield to maturity. | Unless otherwise noted, the rates quoted in Short-term investments security descriptions represent the weighted average yield to maturity. |
|  | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
|  | **DIVERSIFICATION BY COUNTRY<sup>⌂</sup>** |  |
|  | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): |
|  | United States | 60.3% |
|  | Canada | 9.3 |
|  | United Kingdom | 6.5 |
|  | Netherlands | 6.0 |
|  | Japan | 5.3 |
|  | Australia | 2.7 |
|  | France | 2.7 |
|  | Italy | 2.7 |
|  | Switzerland | 2.6 |
|  | Germany | 1.9 |
|  | **Total** | **100.0%** |
|  | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. |
|  | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. |
|  | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. |
|  | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. |
|  | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. Certain securities may be valued on the basis of a price provided by a single source. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. Certain securities may be valued on the basis of a price provided by a single source. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. |

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| | | | |
|:---|:---|:---|:---|
| ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. |
| The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: |
|  | **Valuation inputs** | **Valuation inputs** | **Valuation inputs** |
| **Investments in securities:** | **Level 1** | **Level 2** | **Level 3** |
| Asset-backed securities | $— | $38764 | $— |
| Commercial paper |  | 1962713 |  |
| Corporate bonds and notes |  | 5474971 |  |
| **Totals by level** | **$—** | **$7476448** | **$—** |
| For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Putnam ETF Trust

- **b. Investment Company Act file number:** 811-23643

- **c. CIK number of Registrant:** 0001845809

- **d. LEI of Registrant:** 549300EMFKH8ETCKNO35

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 FEDERAL STREET

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

  - **Telephone number:** 1-800-225-1581

**Item A.2. Information about the Series.**

- **a. Name of Series:** Putnam ESG Ultra Short ETF

- **b. EDGAR series identifier (if any):** S000077299

- **c. LEI of Series:** 549300NQ9F4P4U3AVO48

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $9128962.88

**Total Liabilities:** $1613043.28

**Net Assets:** $7515919.59

**Cash Not Reported:** $97107.88

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 117.84 | **1-Year:** 337.83 | **5-Year:** 56.38 | **10-Year:** 0 | **30-Year:** 0

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237596 |  |  |  |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3.87                   | $1132.17                                   |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $0.00                    | $0.00                                      |

### Schedule of Portfolio Investments

| Name                                    | Title                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FORD CREDIT AUTO OWNER TRUST 2020-C     | ASSET BACKED SECURITY | CUSIP: 34533YAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     39894 | PA      | $38764.01     | 0.52%             | 2025-07-15      | Fixed         | 0.41%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES INC               | CORP MED TERM NOTE    | CUSIP: 05348EAR0<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99782.98     | 1.33%             | 2023-03-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA/LONDON               | CORP. NOTE            | CUSIP: 22535WAD9<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $242740.94    | 3.23%             | 2024-10-04      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                          | CORP. NOTE            | CUSIP: 09659W2E3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $199796.97    | 2.66%             | 2023-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RABOBANK NEDERLAND                      | CORP. NOTE            | CUSIP: 74977RDE1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $248312.50    | 3.30%             | 2023-09-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                            | CORP. NOTE            | CUSIP: 456837AK9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $198736.88    | 2.64%             | 2023-10-02      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                            | CORP. NOTE            | CUSIP: 29250NBG9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $97021.99     | 1.29%             | 2023-10-04      | Fixed         | 0.55%                 | No            |                  2 | On Loan: No      |
| MACQUARIE GROUP LTD                     | CORP. NOTE            | CUSIP: 55608JBL1<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $101951.62    | 1.36%             | 2024-11-22      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER CO INC          | CORP. NOTE            | CUSIP: 025537AK7<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96630.40     | 1.29%             | 2024-03-15      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FINANCE NORTH AMERICA LLC | CORP. NOTE            | CUSIP: 233851DY7<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149528.60    | 1.99%             | 2023-03-10      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA/THE                 | CORP. NOTE            | CUSIP: 064159VK9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $99217.00     | 1.32%             | 2023-05-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG/NEW YORK NY            | CORP. NOTE            | CUSIP: 251526CM9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145446.33    | 1.94%             | 2023-11-08      | Fixed         | 0.96%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                     | CORP. NOTE            | CUSIP: 03027XBH2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95878.31     | 1.28%             | 2024-01-15      | Fixed         | 0.60%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP OF AMERICA FINANCE LLC | CORP. NOTE            | CUSIP: 928668BJ0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    200000 | PA      | $192996.76    | 2.57%             | 2023-11-22      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINANCIAL CO INC         | CORP. NOTE            | CUSIP: 37045XAL0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99796.58     | 1.33%             | 2023-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                     | CORP. NOTE            | CUSIP: 46115HAP2<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $199577.97    | 2.66%             | 2024-01-12      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                      | CORP. NOTE            | CUSIP: 756109BQ6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100274.64    | 1.33%             | 2026-01-13      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LP                    | CORPORATE BONDS       | CUSIP: 10112RAW4<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98603.98     | 1.31%             | 2024-02-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                          | DISC. CP              | CUSIP: 05330NP11<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    300000 | PA      | $299959.67    | 3.99%             | 2023-02-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC                      | DISC. CP              | CUSIP: N/A<br>LEI: 54930035UDEIH090K650       | Long             | STIV             | CORP              | US        |    250000 | PA      | $249966.40    | 3.33%             | 2023-02-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP LLC              | DISC. CP              | CUSIP: 05369CP19<br>LEI: 549300ODEK8HY3445C77 | Long             | STIV             | CORP              | US        |    300000 | PA      | $299962.97    | 3.99%             | 2023-02-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                             | DISC. CP              | CUSIP: 6840C3P98<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249706.06    | 3.32%             | 2023-02-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EASTMAN CHEMICAL CO                     | DISC. CP              | CUSIP: N/A<br>LEI: FDPVHDGJ1IQZFK9KH630       | Long             | STIV             | CORP              | US        |    250000 | PA      | $249936.57    | 3.33%             | 2023-02-02      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                    | DISC. CP              | CUSIP: 87613LP11<br>LEI: 5493003QENHHS261UR94 | Long             | STIV             | CORP              | US        |    264000 | PA      | $263968.91    | 3.51%             | 2023-02-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE CORP             | DISC. CP              | CUSIP: N/A<br>LEI: B6Q2VFHD1797Q7NZ3E43       | Long             | STIV             | CORP              | US        |    100000 | PA      | $99455.38     | 1.32%             | 2023-03-13      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                        | DISC. CP              | CUSIP: N/A<br>LEI: 54930012H97VSM0I2R19       | Long             | STIV             | CORP              | US        |    250000 | PA      | $249756.95    | 3.32%             | 2023-02-07      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                        | VAR.RT. CORP. BONDS   | CUSIP: 06367WYQ0<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $99612.00     | 1.33%             | 2024-07-09      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINANCIAL GROUP INC     | VAR.RT. CORP. BONDS   | CUSIP: 86562MBE9<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $100209.02    | 1.33%             | 2023-10-16      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                            | VAR.RT. CORP. BONDS   | CUSIP: 06738EBQ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $240556.48    | 3.20%             | 2024-12-10      | Variable      | 1.01%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE      | VAR.RT. CORP. BONDS   | CUSIP: 13607HYE6<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $99555.38     | 1.32%             | 2024-10-18      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP INC              | VAR.RT. CORP. BONDS   | CUSIP: 60687YBF5<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $196224.16    | 2.61%             | 2024-07-10      | Variable      | 1.24%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                    | VAR.RT. CORP. BONDS   | CUSIP: 961214EV1<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $99638.98     | 1.33%             | 2024-11-18      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS INC              | VAR.RT. CORP. BONDS   | CUSIP: 92343VEP5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101345.18    | 1.35%             | 2025-05-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                 | VAR.RT. CORP. BONDS   | CUSIP: 828807DR5<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99388.62     | 1.32%             | 2024-01-11      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FINANCIAL GROUP INC      | VAR.RT. CORP. BONDS   | CUSIP: 606822AZ7<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $100244.06    | 1.33%             | 2023-07-26      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                        | VAR.RT. CORP. BONDS   | CUSIP: 06368FAH2<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100157.30    | 1.33%             | 2024-03-08      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK/THE               | VAR.RT. CORP. BONDS   | CUSIP: 89114TZS4<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100393.86    | 1.34%             | 2024-03-08      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                      | VAR.RT. CORP. BONDS   | CUSIP: 05565EBY0<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |     74000 | PA      | $73821.47     | 0.98%             | 2025-04-01      | Floating      | 3.82%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINANCE NORTH AMERICA LLC | VAR.RT. CORP. BONDS   | CUSIP: 233853AK6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150054.00    | 2.00%             | 2024-04-05      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                            | VAR.RT. CORP. BONDS   | CUSIP: 902613AR9<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $198056.22    | 2.64%             | 2025-08-05      | Variable      | 4.49%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                    | VAR.RT. CORP. BONDS   | CUSIP: 06051GHR3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98063.43     | 1.30%             | 2025-03-15      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| AT AND T INC                            | VAR.RT. CORP. BONDS   | CUSIP: 00206RGD8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151592.10    | 2.02%             | 2024-06-12      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC/THE    | VAR.RT. CORP. BONDS   | CUSIP: 693475BL8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100163.04    | 1.33%             | 2027-01-26      | Variable      | 4.76%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC/THE             | VAR.RT. CORP. BONDS   | CUSIP: 38141GYF5<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99674.80     | 1.33%             | 2024-09-10      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE                          | VAR.RT. CORP. BONDS   | CUSIP: 74460WAB3<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99712.98     | 1.33%             | 2024-04-23      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| MASSMUTUAL GLOBAL FUNDING II            | VAR.RT. CORP. BONDS   | CUSIP: 57629WDC1<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199851.44    | 2.66%             | 2024-04-12      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE  AND  CO                 | VAR.RT. CORP. BONDS   | CUSIP: 46647PCA2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100020.70    | 1.33%             | 2024-03-16      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                    | VAR.RT. CORP. BONDS   | CUSIP: 06051GHK8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100261.12    | 1.33%             | 2024-07-23      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE  AND  CO                 | VAR.RT. CORP. BONDS   | CUSIP: 46647PAW6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100241.07    | 1.33%             | 2024-07-23      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                          | VAR.RT. CORP. BONDS   | CUSIP: 61744YAG3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100221.03    | 1.33%             | 2024-05-08      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA/THE                 | VAR.RT. CORP. BONDS   | CUSIP: 0641596F8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $99618.55     | 1.33%             | 2024-07-31      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-29

**Name of Applicant:** Putnam Investments Inc

**Signature:** Janet C. Smith

**Name of Signer:** NPORT

**Title:** Principal Financial Officer