# EDGAR Filing Document

**Accession Number:** 0001005942
**File Stem:** 0002071691-25-009357
**Filing Date:** 2025-12
**Character Count:** 54850
**Document Hash:** eef8f478382405783867ddebb4abdf0c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-009357.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-009357

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001005942

**ORGANIZATION NAME:**
- **EIN:** 043299786
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07513
- **FILM NUMBER:** 251595257

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6177601000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

## Series and Classes Contracts Data

### PUTNAM CORE EQUITY FUND (Series ID: S000029796)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000091525 | CLASS A         |  |
| C000091527 | CLASS C         |  |
| C000091529 | CLASS R         |  |
| C000091530 | CLASS Y         |  |
| C000203066 | Class R6 Shares |  |

## 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 Funds Trust

- **b. Investment Company Act file number:** 811-07513

- **c. CIK number of Registrant:** 0001005942

- **d. LEI of Registrant:** 549300S9JYWEMKQCLW53

- **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:** 617-292-1000

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

- **a. Name of Series:** Putnam Core Equity Fund

- **b. EDGAR series identifier (if any):** S000029796

- **c. LEI of Series:** 9OT97RDD7TVDM00HRZ61

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-10-31

**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:** $6194920851.74

**Total Liabilities:** $150482013.78

**Net Assets:** $6044438837.96

**Cash Not Reported:** $513865.68

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000091525 | 2.43%                | 3.35%                | 1.92%                |
| Class ID C000091530 | 2.45%                | 3.36%                | 1.94%                |
| Class ID C000091527 | 2.34%                | 3.29%                | 1.84%                |
| Class ID C000091529 | 2.41%                | 3.33%                | 1.88%                |
| Class ID C000203066 | 2.44%                | 3.38%                | 1.94%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8361973.90              | $121080457.33                              |
| Month 2  | $10087967.60             | $178439122.99                              |
| Month 3  | $16058975.42             | $93024450.91                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CBRE Group, Inc.                          | CBRE Group, Inc., Class A                  | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |    405904 | NS      | $61871946.72  | 1.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Oracle Corp.                              | Oracle Corp.                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    221615 | NS      | $58198315.15  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.                        | Lam Research Corp.                         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    559279 | NS      | $88064071.34  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock, Inc.                           | BlackRock, Inc.                            | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |     32923 | NS      | $35649353.63  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                         | Exxon Mobil Corp.                          | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    520803 | NS      | $59559031.08  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart, Inc.                             | Walmart, Inc.                              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    711471 | NS      | $71986635.78  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings, Inc.                     | PayPal Holdings, Inc.                      | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     86690 | NS      | $6005016.30   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp.                   | Permian Resources Corp., Class A           | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |   1171840 | NS      | $14718310.40  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca plc                           | AstraZeneca plc                            | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      2123 | NS      | $174935.20    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group, Inc.                        | CoStar Group, Inc.                         | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |    164181 | NS      | $11297294.61  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                              | NVIDIA Corp.                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   2277894 | NS      | $461250756.06 | 7.63%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                  | U.S. Treasury Bills                        | CUSIP: 912797QS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1400000 | PA      | $1395335.10   | 0.02%             | 2025-12-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                | PG&E Corp.                                 | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |   2826725 | NS      | $45114531.00  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                          | Amazon.com, Inc.                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    982837 | NS      | $240028452.14 | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings, Inc.           | Hilton Worldwide Holdings, Inc.            | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |    130809 | NS      | $33612680.64  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp.                    | Northrop Grumman Corp.                     | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     38374 | NS      | $22389310.30  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                           | Eli Lilly & Co.                            | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     88472 | NS      | $76338949.92  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                            | Alphabet, Inc., Class C                    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   1046580 | NS      | $294947175.60 | 4.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings, Inc.              | Floor & Decor Holdings, Inc., Class A      | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     41312 | NS      | $2581173.76   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Intel Corp.                               | Intel Corp.                                | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    276986 | NS      | $11076670.14  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                             | Owens Corning                              | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     55686 | NS      | $7089384.66   | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| International Business Machines Corp.     | International Business Machines Corp.      | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |    126208 | NS      | $38797601.28  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Oracle Corp.                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        | -17318700 | NC      | $-559612.17   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Apple, Inc.                               | Apple, Inc.                                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   1381048 | NS      | $373393947.76 | 6.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest, Inc.                           | Pinterest, Inc., Class A                   | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186056 | NS      | $6158453.60   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma plc                        | Royalty Pharma plc, Class A                | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |    233555 | NS      | $8767654.70   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| NextEra Energy, Inc.                      | NextEra Energy, Inc.                       | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    338347 | NS      | $27541445.80  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties, Inc.       | Gaming and Leisure Properties, Inc.        | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |    814918 | NS      | $36394237.88  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.                    | Southwest Airlines Co.                     | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |   1230286 | NS      | $37277665.80  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co. (The)                          | Boeing Co. (The)                           | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |    164186 | NS      | $33004669.72  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp.                          | Fair Isaac Corp.                           | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      4737 | NS      | $7861193.61   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner, Inc.                             | Gartner, Inc.                              | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |     50252 | NS      | $12479581.68  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust, Inc.             | Starwood Property Trust, Inc.              | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |    961524 | NS      | $17480506.32  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Voyix Corp.                           | NCR Voyix Corp.                            | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |    421672 | NS      | $4811277.52   | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Snap-on, Inc.                             | Snap-on, Inc.                              | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |     30666 | NS      | $10289976.30  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co. (The)                          | Kroger Co. (The)                           | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |    328547 | NS      | $20905445.61  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Cash Collateral Pool LLC           | Putnam Cash Collateral Pool LLC            | CUSIP: 99311N9A5<br>LEI: 5493005HRIV7IFMKD774 | Long             | STIV             | PF                | US        | 143119065 | NS      | $143119065.00 | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson & Johnson                         | Johnson & Johnson                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    251358 | NS      | $47473985.46  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                         | Merck & Co., Inc.                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    377840 | NS      | $32486683.20  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                          | Mastercard, Inc., Class A                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    194232 | NS      | $107214121.68 | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                                | AT&T, Inc.                                 | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |   1594796 | NS      | $39471201.00  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | PulteGroup, Inc.                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        | -15974696 | NC      | $-35171.86    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Tesla, Inc.                               | Tesla, Inc.                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    283558 | NS      | $129461240.48 | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Tenet Healthcare Corp.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   4770200 | NC      | $100784.28    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lululemon Athletica, Inc.                 | Lululemon Athletica, Inc.                  | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |     27420 | NS      | $4676206.80   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial Select Sector SPDR Fund        | Industrial Select Sector SPDR Fund         | CUSIP: 81369Y704<br>LEI: 549300HQI51T8KP6U325 | Long             |  | RF                | US        |    282032 | NS      | $43731881.92  | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| Assured Guaranty Ltd.                     | Assured Guaranty Ltd.                      | CUSIP: N/A<br>LEI: 549300BBOQUJEPH87M14       | Long             | EC               | CORP              | BM        |    195206 | NS      | $15729699.48  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co.                    | Becton Dickinson & Co.                     | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     45036 | NS      | $8048383.56   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nyxoah SA                                 | Nyxoah SA                                  | CUSIP: N/A<br>LEI: 5493002O1ESKZ18OXR80       | Long             | EC               | CORP              | BE        |    122147 | NS      | $633942.93    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp.                               | Nucor Corp.                                | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |    175480 | NS      | $26330774.00  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp.                                 | LKQ Corp.                                  | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     94397 | NS      | $3016928.12   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Navan, Inc.                               | Navan, Inc., Class A                       | CUSIP: 639193101<br>LEI: 254900RHRK35UPHTGY05 | Long             | EC               | CORP              | US        |    182607 | NS      | $3702356.93   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology, Inc.                  | Marvell Technology, Inc.                   | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69023 | NS      | $6470216.02   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.             | Raymond James Financial, Inc.              | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |    371019 | NS      | $58869584.73  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials, Inc.         | Solstice Advanced Materials, Inc.          | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |     32472 | NS      | $1463490.51   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co., Inc.                           | KKR & Co., Inc.                            | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |    112902 | NS      | $13359693.66  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot, Inc. (The)                    | Home Depot, Inc. (The)                     | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     57370 | NS      | $21777078.30  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial, Inc.                | Corebridge Financial, Inc.                 | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |    660381 | NS      | $21502005.36  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Expanded Tech-Software Sector ETF | iShares Expanded Tech-Software Sector ETF  | CUSIP: 464287515<br>LEI: 54930072GM1ADLZJ5373 | Long             |  | RF                | US        |    438925 | NS      | $50700226.75  | 0.84%             |  |  |  | No            |                  1 | On Loan: —       |
| Viking Holdings Ltd.                      | Viking Holdings Ltd.                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |    513177 | NS      | $31226820.45  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe, Inc.                               | Adobe, Inc.                                | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     49064 | NS      | $16696969.84  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Tesla, Inc.                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        | -10557000 | NC      | $-405573.72   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Deere & Co.                               | Deere & Co.                                | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     39386 | NS      | $18181759.18  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories, Inc.                | Bio-Rad Laboratories, Inc., Class A        | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |     33669 | NS      | $10758928.95  | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| UMB Financial Corp.                       | UMB Financial Corp.                        | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |    235012 | NS      | $25118082.56  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan, Inc.                    | Freeport-McMoRan, Inc.                     | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    632885 | NS      | $26391304.50  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                           | Citigroup, Inc.                            | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    752132 | NS      | $76138322.36  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Russell 2000 E-Mini Index                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       171 | NC      | $356969.15    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca plc                           | AstraZeneca plc                            | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    194491 | NS      | $16026058.40  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp.                      | Otis Worldwide Corp.                       | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |    571705 | NS      | $53031355.80  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                            | Broadcom, Inc.                             | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    458778 | NS      | $169578112.14 | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp.                            | McKesson Corp.                             | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     63269 | NS      | $51332670.46  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT, Inc.                                 | ADT, Inc.                                  | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1332689 | NS      | $11780970.76  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                      | Meta Platforms, Inc., Class A              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    254334 | NS      | $164897448.90 | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                             | Medtronic plc                              | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |    179720 | NS      | $16300604.00  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies, Inc.               | Palantir Technologies, Inc., Class A       | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     47418 | NS      | $9505886.46   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper, Inc.                    | Keurig Dr Pepper, Inc.                     | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    499846 | NS      | $13575817.36  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                   | Arch Capital Group Ltd.                    | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | BM        |    354317 | NS      | $30581100.27  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy, Inc.                             | GoDaddy, Inc., Class A                     | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |     91269 | NS      | $12150641.97  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp.                    | Antero Resources Corp.                     | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |    652562 | NS      | $20170691.42  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                             | Netflix, Inc.                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     20293 | NS      | $22705025.98  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp.                    | Tenet Healthcare Corp.                     | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |    144553 | NS      | $29848748.97  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Star Bancorp                         | Five Star Bancorp                          | CUSIP: 33830T103<br>LEI: 5493008ZRBIHKWC0JA73 | Long             | EC               | CORP              | US        |    280934 | NS      | $9975966.34   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                       | Cisco Systems, Inc.                        | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    908981 | NS      | $66455600.91  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardian Pharmacy Services, Inc.          | Guardian Pharmacy Services, Inc., Class A  | CUSIP: 40145W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    570543 | NS      | $15998025.72  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                       | Fifth Third Bancorp                        | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |    335931 | NS      | $13981448.22  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores, Inc.              | Casey's General Stores, Inc.               | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     30316 | NS      | $15557868.04  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                      | JPMorgan Chase & Co.                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    313814 | NS      | $97633811.68  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.                  | Berkshire Hathaway, Inc., Class B          | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |    212767 | NS      | $101604753.18 | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                            | Morgan Stanley                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    118705 | NS      | $19467620.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices, Inc.              | Advanced Micro Devices, Inc.               | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     69314 | NS      | $17752701.68  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management, Inc.            | Apollo Global Management, Inc.             | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |    387556 | NS      | $48177086.36  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.                | Constellation Energy Corp.                 | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     65436 | NS      | $24669372.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.              | Vertex Pharmaceuticals, Inc.               | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     11925 | NS      | $5074922.25   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                         | Lowe's Cos., Inc.                          | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |    217522 | NS      | $51798513.86  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG, Inc.                                 | TPG, Inc., Class A                         | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |    258484 | NS      | $14226959.36  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                              | Target Corp.                               | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |    191302 | NS      | $17737521.44  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                            | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    411953 | NS      | $36606143.58  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co. (The)                       | Coca-Cola Co. (The)                        | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    881489 | NS      | $60734592.10  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours, Inc.                   | DuPont de Nemours, Inc.                    | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |    268393 | NS      | $21914288.45  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial, Inc.                | Ameriprise Financial, Inc.                 | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     89245 | NS      | $40407458.65  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co. (The)                | Procter & Gamble Co. (The)                 | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    273902 | NS      | $41186643.74  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue, Inc.                              | Kenvue, Inc.                               | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    139207 | NS      | $2000404.59   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor plc                                 | Amcor plc                                  | CUSIP: N/A<br>LEI: 549300GSODGFCDQ3DI89       | Long             | EC               | CORP              | JE        |   1712611 | NS      | $13529626.90  | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Putnam Funds Trust                        | Putnam Short Term Investment Fund, Class P | CUSIP: 74676P664<br>LEI: 549300S9JYWEMKQCLW53 | Long             |  | RF                | US        | 113894044 | NS      | $113894044.47 | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Music Group NV                  | Universal Music Group NV                   | CUSIP: N/A<br>LEI: 724500GJBUL3D9TW9Y18       | Long             | EC               | CORP              | NL        |    935004 | NS      | $25078661.50  | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)           | Goldman Sachs Group, Inc. (The)            | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |    122667 | NS      | $96829649.79  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co. (The)                     | Walt Disney Co. (The)                      | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    308762 | NS      | $34772776.44  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana, Inc.                              | Humana, Inc.                               | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     43304 | NS      | $12046739.76  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen, Inc.                               | Amgen, Inc.                                | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     55960 | NS      | $16700142.80  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | S&P 500 E-Mini Index                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       115 | NC      | $1011880.21   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                             | Medtronic plc                              | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     28284 | NS      | $2565358.80   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                           | Microsoft Corp.                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    749180 | NS      | $387932895.80 | 6.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co.                 | Molson Coors Beverage Co., Class B         | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |    404709 | NS      | $17693877.48  | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Bank of America Corp.                     | Bank of America Corp.                      | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   1595580 | NS      | $85283751.00  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                  | U.S. Treasury Bills                        | CUSIP: 912797SG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   9200000 | PA      | $9125828.04   | 0.15%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)       | Bank of New York Mellon Corp. (The)        | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |    539216 | NS      | $58197582.88  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International, Inc.             | Honeywell International, Inc.              | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |    129886 | NS      | $26149948.38  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP, Inc.                                 | BXP, Inc.                                  | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     41520 | NS      | $2955808.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| First Watch Restaurant Group, Inc.        | First Watch Restaurant Group, Inc.         | CUSIP: 33748L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    305276 | NS      | $5034001.24   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                 | RTX Corp.                                  | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    161012 | NS      | $28740642.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare, Inc.                      | HCA Healthcare, Inc.                       | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     27104 | NS      | $12459166.72  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie, Inc.                              | AbbVie, Inc.                               | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    244573 | NS      | $53326696.92  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp.                       | Union Pacific Corp.                        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |    244038 | NS      | $53778654.06  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties, Inc.           | Armada Hoffler Properties, Inc.            | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               | CORP              | US        |   1745174 | NS      | $11413437.96  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.           | Regeneron Pharmaceuticals, Inc.            | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     39120 | NS      | $25498416.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                      | United Rentals, Inc.                       | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |     35662 | NS      | $31068021.16  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co. (The)                         | Hershey Co. (The)                          | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     50145 | NS      | $8506096.35   | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| American International Group, Inc.        | American International Group, Inc.         | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |    135882 | NS      | $10729242.72  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group, Inc.                  | UnitedHealth Group, Inc.                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    127685 | NS      | $43612088.60  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co.                        | General Motors Co.                         | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    332850 | NS      | $22996606.50  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific, Inc.            | Thermo Fisher Scientific, Inc.             | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     46777 | NS      | $26540802.03  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Tesla, Inc.                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |  -9978660 | NC      | $-383355.34   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FedEx Corp.                               | FedEx Corp.                                | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     83045 | NS      | $21078481.90  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties, Inc.                | Highwoods Properties, Inc.                 | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |    371795 | NS      | $10644490.85  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                          | McDonald's Corp.                           | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |    109307 | NS      | $32620488.01  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.              | Charter Communications, Inc., Class A      | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |     70561 | NS      | $16499984.24  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup, Inc.                          | PulteGroup, Inc.                           | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    345473 | NS      | $41411848.51  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp.                          | CVS Health Corp.                           | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    261965 | NS      | $20472564.75  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co. (The)                  | New York Times Co. (The), Class A          | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |    251464 | NS      | $14330933.36  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts, Inc.                     | Electronic Arts, Inc.                      | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     93491 | NS      | $18703809.46  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM, Inc.                            | QUALCOMM, Inc.                             | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    183217 | NS      | $33143955.30  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                          | NRG Energy, Inc.                           | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |    334213 | NS      | $57437846.18  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Tenet Healthcare Corp.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        | -10971460 | NC      | $-46038.12    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                        | Vail Resorts, Inc.                         | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |     76456 | NS      | $11340718.48  | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Eastman Chemical Co.                      | Eastman Chemical Co.                       | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |    139993 | NS      | $8332383.36   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce, Inc.                          | Salesforce, Inc.                           | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    147903 | NS      | $38515420.23  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Meta Platforms, Inc.                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        | -12894960 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Graham Holdings Co.                       | Graham Holdings Co., Class B               | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |     11373 | NS      | $11510954.49  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group, Inc.           | Jefferies Financial Group, Inc.            | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |    101573 | NS      | $5366101.59   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay, Inc.                                | eBay, Inc.                                 | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |    153429 | NS      | $12475311.99  | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Cintas Corp.                              | Cintas Corp.                               | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57680 | NS      | $10571013.60  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Co., Inc.                        | Best Buy Co., Inc.                         | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |    253427 | NS      | $20816493.78  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** Putnam Funds Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer