# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000940400-25-005823
**Filing Date:** 2025-11
**Character Count:** 209070
**Document Hash:** d439a1afae088a1d89cbdf3a21510e4d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-005823.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0000940400-25-005823

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**EFFECTIVENESS DATE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Putnam ETF Trust
- **CENTRAL INDEX KEY:** 0001845809

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23643
- **FILM NUMBER:** 251470035

**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 Focused Large Cap Growth ETF (Series ID: S000071709)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227195 | -            |  |

### Putnam Focused Large Cap Value ETF (Series ID: S000071710)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227196 | -            |  |

### Putnam Sustainable Future ETF (Series ID: S000071711)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227197 | -            |  |

### Putnam Sustainable Leaders ETF (Series ID: S000071712)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227198 | -            |  |

## Internal

Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Putnam ETF Trust and Shareholders of Putnam Sustainable Leaders ETF:<br>In planning and performing our audit of the financial statements of Putnam Sustainable Leaders ETF (one of the funds constituting Putnam ETF Trust, referred to hereafter as the "Fund") as of and for the year ended August 31, 2025, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting.<br>The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.<br>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.<br>A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.<br>Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of August 31, 2025.<br>This report is intended solely for the information and use of the Board of Trustees of Putnam ETF Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.<br>/s/PricewaterhouseCoopers LLP<br> PricewaterhouseCoopers LLP<br> Boston, Massachusetts<br> October 20, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Suite 500, Boston, MA 02210<br> T: (617)530 5000, F: (617) 530 5001, www.pwc.com/us

## Internal

Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Putnam ETF Trust and Shareholders of Putnam Focused Large Cap Value ETF:<br>In planning and performing our audit of the financial statements of Putnam Focused Large Cap Value ETF (one of the funds constituting Putnam ETF Trust, referred to hereafter as the "Fund") as of and for the year ended August 31, 2025, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting.<br>The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.<br>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.<br>A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.<br>Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of August 31, 2025.<br>This report is intended solely for the information and use of the Board of Trustees of Putnam ETF Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.<br>/s/PricewaterhouseCoopers LLP<br> PricewaterhouseCoopers LLP<br> Boston, Massachusetts<br> October 20, 2025<br>

PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Suite 500, Boston, MA 02210 T: (617)530 5000, F: (617) 530 5001, www.pwc.com/us

## Internal

Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Putnam ETF Trust and Shareholders of Putnam Focused Large Cap Growth ETF:<br>In planning and performing our audit of the financial statements of Putnam Focused Large Cap Growth ETF (one of the funds constituting Putnam ETF Trust, referred to hereafter as the "Fund") as of and for the year ended August 31, 2025, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting.<br>The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.<br>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.<br>A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.<br>Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of August 31, 2025.<br>This report is intended solely for the information and use of the Board of Trustees of Putnam ETF Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.<br>/s/PricewaterhouseCoopers LLP<br> PricewaterhouseCoopers LLP<br> Boston, Massachusetts<br> October 20, 2025

PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Suite 500, Boston, MA 02210 T: (617)530 5000, F: (617) 530 5001, www.pwc.com/us

## Internal

Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Putnam ETF Trust and Shareholders of Putnam Sustainable Future ETF:<br>In planning and performing our audit of the financial statements of Putnam Sustainable Future ETF (one of the funds constituting Putnam ETF Trust, referred to hereafter as the "Fund") as of and for the year ended August 31, 2025, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting.<br>The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.<br>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.<br>A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.<br>Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of August 31, 2025.<br>This report is intended solely for the information and use of the Board of Trustees of Putnam ETF Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.<br>/s/PricewaterhouseCoopers LLP<br> PricewaterhouseCoopers LLP<br> Boston, Massachusetts<br> October 20, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Suite 500, Boston, MA 02210<br> T: (617)530 5000, F: (617) 530 5001, www.pwc.com/us

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001845809

## N-CEN: Series/Class (Contract) Information

**Series ID Record:1**
- **Series ID:** S000071709

**Series ID Record:2**
- **Series ID:** S000071712

**Series ID Record:3**
- **Series ID:** S000071711

**Series ID Record:4**
- **Series ID:** S000071710

**Class ID Record:1**
- **Class ID:** C000227195

**Class ID Record:2**
- **Class ID:** C000227198

**Class ID Record:3**
- **Class ID:** C000227197

**Class ID Record:4**
- **Class ID:** C000227196

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-08-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Putnam ETF Trust

- **Item B.1.b - Investment Company Act file number:** 811-23643

- **Item B.1.c - CIK:** 0001845809

- **Item B.1.d - LEI:** 549300EMFKH8ETCKNO35

- **Item B.2.a - Street 1:** 100 FEDERAL STREET

- **Item B.2.b - City:** BOSTON

- **Item B.2.c - State:** MA

- **Item B.2.e - Zip Code:** 02110

- **Item B.2.f - Telephone:** 1-800-225-1581

- **Item B.2.g - Public Website:** https://www.franklintempleton.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** PanAgora Asset Management Inc.

- **b. Street 1:** 1 INTERNATIONAL PLACE

- **Street 2:** 24th Floor

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-617-439-6300

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** Franklin Advisers, Inc.

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 1-650-312-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** 2 AVENUE DE LAFAYETTE

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02111

- **g. Telephone number:** 1-617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** Putnam Investments Limited

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** Higgins Michael J.

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** The Bank of New York Mellon

- **b. Street 1:** 240 Greenwich Street

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10286

- **g. Telephone number:** 212-495-1784

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** STATE STREET BANK AND TRUST COMPANY

- **b. Street 1:** One Congress Street

- **Street 2:** Suite 1

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02114-2016

- **g. Telephone number:** 1-617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Services, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** Franklin Distributors, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 1-800-632-2350

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** Putnam Investment Management, LLC

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Putnam Family of Funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 12

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                     | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                               |
|:---|:---|:---|
| Pillai Marie             | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| McGreevey Gregory G      | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Williams Murphy Jennifer | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Putnam, III George       | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Jane Trust               | Yes                     | 811-06740, 811-21403, 811-05497, 811-07920, 811-08709, 811-06506, 811-06310, 811-02351, 811-22444, 811-10407, 811-21467, 811-22294, 811-21343, 811-22405, 811-22491, 811-23408, 811-22693, 811-06444, 811-10603, 811-22369, 811-06629, 811-04052, 811-04254, 811-06110, 811-21477, 811-22338, 811-22334, 811-22546, 811-23598, 811-21337, 811-21128 |
| Singh Manoj P            | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Domotorffy Katinka       | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Hill Catharine Bond      | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Baumann Barbara M        | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Reynolds Robert L        | Yes                     | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Sutphen Mona K           | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |
| Ahamed Liaquat           | No                      | N/A                                                                                                                                                                                                                                                                                                                                                 |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Clark James F

- **b. CRD Number, if any:** N/A

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

- **d. City:** Boston

- **e. State, if applicable:** MA

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 02110

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** —

| Series Name                         | Series ID   |
|:---|:---|
| Putnam Focused Large Cap Growth ETF | S000071709  |
| Putnam Sustainable Leaders ETF      | S000071712  |
| Putnam Sustainable Future ETF       | S000071711  |
| Putnam Focused Large Cap Value ETF  | S000071710  |

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a - Did the Registrant rely on any exemptive orders from the Commission?:** No

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. SEC file number:** 008-53089

- **iii. CRD number:** 000109064

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PricewaterhouseCoopers LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Putnam Focused Large Cap Growth ETF

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Putnam Focused Large Cap Growth ETF

- **b. Series identification number, if any:** S000071709

- **c. LEI:** 549300QG106ILQU23214

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 0

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class               | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Putnam Focused Large Cap Growth ETF | C000227195                                | PGRO                         |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [x] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** Yes

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Sub-adviser Record: 2**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. SEC file number:** 085-05006

- **iii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iv. State, if applicable:** NY

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** STATE STREET BANK AND TRUST COMPANY

- **ii. SEC file number:** 085-05003

- **iii. LEI, if any:** 571474TGEMMWANRLN572

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** JPM Pricing Direct

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** LSEG Pricing Service

- **ii. LEI, if any, or provide and describe other identifying number:** 213800QAUUUP6I445N30

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** Yes

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** STATE STREET BANK AND TRUST COMPANY

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any, or other identifying number:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Stephens, Inc.

- **ii. SEC file number:** 008-01927

- **iii. CRD number:** 000003496

- **iv. LEI, if any:** 213800LH6T9XDYZCA534

- **v. State, if applicable:** AR

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $125.12

**Brokers Record: 2**

- **i. Full name of broker:** BMO CAPITAL MARKETS CORP.

- **ii. SEC file number:** 008-34344

- **iii. CRD number:** 000016686

- **iv. LEI, if any:** RUC0QBLBRPRCU4W1NE59

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $267.00

**Brokers Record: 3**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $123.11

**Brokers Record: 4**

- **i. Full name of broker:** J.P. MORGAN SECURITIES LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $544.60

**Brokers Record: 5**

- **i. Full name of broker:** PIPER SANDLER & CO.

- **ii. SEC file number:** 008-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

- **v. State, if applicable:** MN

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $321.58

**Brokers Record: 6**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $283.38

**Brokers Record: 7**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 008-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

- **v. State, if applicable:** FL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $366.88

**Brokers Record: 8**

- **i. Full name of broker:** OPPENHEIMER & CO. INC.

- **ii. SEC file number:** 008-04077

- **iii. CRD number:** 000000249

- **iv. LEI, if any:** 254900VH02JQR2L8XD64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $213.08

**Brokers Record: 9**

- **i. Full name of broker:** Sandler, O'Neill & Partners, L.P.

- **ii. SEC file number:** 008-40214

- **iii. CRD number:** 000023328

- **iv. LEI, if any:** 254900L3FGOOS5VBCH09

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $199.92

**Brokers Record: 10**

- **i. Full name of broker:** CitiGroup Global Markets Inc.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $168.56

**Aggregate Commission:** $3,052.63

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $66,061,115.35

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 2 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 5 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 6 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 7 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 8 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 9 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 11 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 12 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 13 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 14 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 15 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 16 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 18 Name of institution:** BARCLAYS BANK PLC

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Putnam ESG Ultra Short ETF                                     | 811-23643         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Putnam ESG Core Bond ETF                                       | 811-23643         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin DynaTech Fund                                         | 811-00537         |
| International Equity Series                                    | 811-06135         |
| Putnam BioRevolution ETF                                       | 811-23643         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Putnam Focused Large Cap Value ETF                             | 811-23643         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Putnam Strategic Intermediate Municipal Fund                   | 811-04345         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                | 811-23643         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Putnam ESG High Yield ETF                                      | 811-23643         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Putnam BDC Income ETF                                          | 811-23643         |
| Putnam Global Technology Fund                                  | 811-07513         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Putnam Massachusetts Tax Exempt Income Fund                    | 811-04518         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Putnam Sustainable Leaders ETF                                 | 811-23643         |
| Putnam VT Income Fund                                          | 811-05346         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Putnam PanAgora ESG International Equity ETF                   | 811-23643         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Franklin Utilities Fund                                        | 811-00537         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Putnam Global Income Trust                                     | 811-04524         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Western Asset Bond ETF                                         | 811-23124         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin International Equity Fund                             | 811-22338         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Putnam VT Government Money Market Fund                         | 811-05346         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Putnam International Capital Opportunities Fund                | 811-07237         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Putnam VT Research Fund                                        | 811-05346         |
| Putnam California Tax Exempt Income Fund                       | 811-03630         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Putnam Tax-Free High Yield Fund                                | 811-04345         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Putnam New York Tax Exempt Income Fund                         | 811-03741         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Putnam Pennsylvania Tax Exempt Income Fund                     | 811-05802         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Putnam International Value Fund                                | 811-07513         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| Putnam Government Money Market Fund                            | 811-07237         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Putnam Money Market Fund                                       | 811-02608         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Putnam Tax Exempt Income Fund                                  | 811-02675         |
| Putnam Emerging Markets Ex-China ETF                           | 811-23643         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Putnam Sustainable Future ETF                                  | 811-23643         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Putnam Income Fund                                             | 811-00653         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset Income Fund                                      | 811-04254         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Putnam Ohio Tax Exempt Income Fund                             | 811-04528         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Putnam Minnesota Tax Exempt Income Fund                        | 811-04527         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Putnam VT International Value Fund                             | 811-05346         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| K2 Alternative Strategies Fund                                 | 811-22641         |
| Putnam Research Fund                                           | 811-07237         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Putnam Intermediate-Term Municipal Income Fund                 | 811-07513         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Putnam Short-Term Municipal Income Fund                        | 811-07513         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin High Income Fund                                      | 811-01608         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Income Fund                                           | 811-00537         |
| Putnam New Jersey Tax Exempt Income Fund                       | 811-05977         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Putnam High Yield Fund                                         | 811-04616         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| ClearBridge Value Fund                                         | 811-22338         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

### Management Investment Record: 2 - Putnam Sustainable Leaders ETF

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Putnam Sustainable Leaders ETF

- **b. Series identification number, if any:** S000071712

- **c. LEI:** 5493001OLEMXT8OPWE88

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 0

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class          | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Putnam Sustainable Leaders ETF | C000227198                                | PLDR                         |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [x] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 12d1-1 (17 CFR 270.12d1-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. SEC file number:** 085-05006

- **iii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iv. State, if applicable:** NY

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** STATE STREET BANK AND TRUST COMPANY

- **ii. SEC file number:** 085-05003

- **iii. LEI, if any:** 571474TGEMMWANRLN572

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** LSEG Pricing Service

- **ii. LEI, if any, or provide and describe other identifying number:** 213800QAUUUP6I445N30

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** JPM Pricing Direct

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** Yes

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** STATE STREET BANK AND TRUST COMPANY

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** Yes

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any, or other identifying number:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** PIPER SANDLER & CO.

- **ii. SEC file number:** 008-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

- **v. State, if applicable:** MN

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $39,199.24

**Brokers Record: 2**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $11,933.15

**Brokers Record: 3**

- **i. Full name of broker:** Mizuho Securities USA LLC

- **ii. SEC file number:** 008-37710

- **iii. CRD number:** 000019647

- **iv. LEI, if any:** 7TK5RJIZDFROZCA6XF66

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,211.74

**Brokers Record: 4**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INC.

- **ii. SEC file number:** 008-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

- **v. State, if applicable:** WI

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,564.56

**Brokers Record: 5**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $27,333.77

**Brokers Record: 6**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $16,323.36

**Brokers Record: 7**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $28,982.34

**Brokers Record: 8**

- **i. Full name of broker:** CitiGroup Global Markets Inc.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $38,058.48

**Brokers Record: 9**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $18,023.15

**Brokers Record: 10**

- **i. Full name of broker:** BOFA SECURITIES, INC.

- **ii. SEC file number:** 008-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $30,851.22

**Aggregate Commission:** $224,487.30

**Item C.17.a. Principal transaction counterparties.**

| Name                     | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| MORGAN STANLEY & CO. LLC | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $1,221.00                 |
| GOLDMAN SACHS & CO. LLC  | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $6,616,932.85             |
| BOFA SECURITIES, INC.    | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $15,776,432.93            |
| RBC CAPITAL MARKETS, LLC | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $1,349,033.95             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $23,743,620.73

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $671,781,285.06

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 2 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 3 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 5 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 8 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 9 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 11 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 12 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 13 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 14 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 15 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 16 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 17 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 18 Name of institution:** THE BANK OF NEW YORK MELLON

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Putnam PanAgora ESG International Equity ETF                   | 811-23643         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Putnam Income Fund                                             | 811-00653         |
| Franklin Income Fund                                           | 811-00537         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Putnam ESG High Yield ETF                                      | 811-23643         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Western Asset Income Fund                                      | 811-04254         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Putnam Global Income Trust                                     | 811-04524         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Putnam Massachusetts Tax Exempt Income Fund                    | 811-04518         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Putnam VT Income Fund                                          | 811-05346         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Western Asset Bond ETF                                         | 811-23124         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Putnam Short-Term Municipal Income Fund                        | 811-07513         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Putnam BDC Income ETF                                          | 811-23643         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Putnam Intermediate-Term Municipal Income Fund                 | 811-07513         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Templeton Developing Markets Trust                             | 811-06378         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Templeton International Bond Fund                              | 811-04706         |
| Putnam Focused Large Cap Value ETF                             | 811-23643         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam Tax-Free High Yield Fund                                | 811-04345         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Putnam Ohio Tax Exempt Income Fund                             | 811-04528         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| International Equity Series                                    | 811-06135         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Putnam International Equity Fund                               | 811-06190         |
| K2 Alternative Strategies Fund                                 | 811-22641         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Putnam Strategic Intermediate Municipal Fund                   | 811-04345         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Putnam VT International Value Fund                             | 811-05346         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Putnam Tax Exempt Income Fund                                  | 811-02675         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                | 811-23643         |
| Putnam International Capital Opportunities Fund                | 811-07237         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin High Income Fund                                      | 811-01608         |
| Putnam Research Fund                                           | 811-07237         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Putnam BioRevolution ETF                                       | 811-23643         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Putnam Government Money Market Fund                            | 811-07237         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Franklin International Equity Fund                             | 811-22338         |
| Putnam VT Government Money Market Fund                         | 811-05346         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Putnam New Jersey Tax Exempt Income Fund                       | 811-05977         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Templeton Foreign Fund                                         | 811-02781         |
| Putnam High Yield Fund                                         | 811-04616         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin DynaTech Fund                                         | 811-00537         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| ClearBridge Value Fund                                         | 811-22338         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Franklin Global Allocation Fund                                | 811-07851         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Putnam ESG Ultra Short ETF                                     | 811-23643         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Putnam Focused Large Cap Growth ETF                            | 811-23643         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Putnam Emerging Markets Ex-China ETF                           | 811-23643         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Putnam Sustainable Future ETF                                  | 811-23643         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Putnam Pennsylvania Tax Exempt Income Fund                     | 811-05802         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| ClearBridge International Value Fund                           | 811-06444         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Putnam Money Market Fund                                       | 811-02608         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Utilities Fund                                        | 811-00537         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Putnam International Value Fund                                | 811-07513         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin International Growth Fund                             | 811-10157         |
| Putnam Minnesota Tax Exempt Income Fund                        | 811-04527         |
| Putnam New York Tax Exempt Income Fund                         | 811-03741         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Putnam VT Research Fund                                        | 811-05346         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Putnam California Tax Exempt Income Fund                       | 811-03630         |
| Putnam ESG Core Bond ETF                                       | 811-23643         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| George Putnam Balanced Fund                                    | 811-00058         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

### Management Investment Record: 3 - Putnam Sustainable Future ETF

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Putnam Sustainable Future ETF

- **b. Series identification number, if any:** S000071711

- **c. LEI:** 549300D5SWQ6IG0LO281

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 0

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class         | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Putnam Sustainable Future ETF | C000227197                                | PFUT                         |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [x] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Sub-adviser Record: 2**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** STATE STREET BANK AND TRUST COMPANY

- **ii. SEC file number:** 085-05003

- **iii. LEI, if any:** 571474TGEMMWANRLN572

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** The Bank of New York Mellon

- **ii. SEC file number:** 085-05006

- **iii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iv. State, if applicable:** NY

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** LSEG Pricing Service

- **ii. LEI, if any, or provide and describe other identifying number:** 213800QAUUUP6I445N30

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** JPM Pricing Direct

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** Yes

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** STATE STREET BANK AND TRUST COMPANY

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any, or other identifying number:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** CitiGroup Global Markets Inc.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,471.47

**Brokers Record: 2**

- **i. Full name of broker:** PIPER SANDLER & CO.

- **ii. SEC file number:** 008-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

- **v. State, if applicable:** MN

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $27,497.71

**Brokers Record: 3**

- **i. Full name of broker:** BMO CAPITAL MARKETS CORP.

- **ii. SEC file number:** 008-34344

- **iii. CRD number:** 000016686

- **iv. LEI, if any:** RUC0QBLBRPRCU4W1NE59

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,407.72

**Brokers Record: 4**

- **i. Full name of broker:** STIFEL NICHOLAS & CO., INC.

- **ii. SEC file number:** 008-01447

- **iii. CRD number:** 000000793

- **iv. LEI, if any:** 5WUVMA08EYG4KEUPW589

- **v. State, if applicable:** MO

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $18,622.00

**Brokers Record: 5**

- **i. Full name of broker:** BOFA SECURITIES, INC.

- **ii. SEC file number:** 008-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,908.27

**Brokers Record: 6**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $23,072.18

**Brokers Record: 7**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $17,005.19

**Brokers Record: 8**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $61,133.03

**Brokers Record: 9**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $20,870.83

**Brokers Record: 10**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $45,681.47

**Aggregate Commission:** $311,939.10

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BOFA SECURITIES, INC.         | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $11,648,023.00            |
| RBC CAPITAL MARKETS, LLC      | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $392,115.27               |
| MORGAN STANLEY & CO. LLC      | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $594.00                   |
| CitiGroup Global Markets Inc. | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $51,491.00                |
| GOLDMAN SACHS & CO. LLC       | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $7,123,336.44             |
| JEFFERIES LLC                 | 008-15074         |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $411,768.00               |
| PIPER SANDLER & CO.           | 008-15204         |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $16,068.97                |
| BARCLAYS CAPITAL, INC.        | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $736,710.26               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $20,380,106.94

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $331,228,927.11

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 2 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 7 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 8 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 11 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 12 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 13 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 14 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 16 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 17 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 18 Name of institution:** THE BANK OF NEW YORK MELLON

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Putnam Focused Large Cap Value ETF                             | 811-23643         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Putnam ESG Ultra Short ETF                                     | 811-23643         |
| ClearBridge International Value Fund                           | 811-06444         |
| Putnam Tax-Free High Yield Fund                                | 811-04345         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| ClearBridge Value Fund                                         | 811-22338         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Putnam Income Fund                                             | 811-00653         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Putnam VT Income Fund                                          | 811-05346         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Putnam Minnesota Tax Exempt Income Fund                        | 811-04527         |
| Putnam California Tax Exempt Income Fund                       | 811-03630         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Putnam International Value Fund                                | 811-07513         |
| Putnam VT Research Fund                                        | 811-05346         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Putnam PanAgora ESG International Equity ETF                   | 811-23643         |
| Franklin DynaTech Fund                                         | 811-00537         |
| K2 Alternative Strategies Fund                                 | 811-22641         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Putnam Intermediate-Term Municipal Income Fund                 | 811-07513         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Templeton International Bond Fund                              | 811-04706         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Putnam Massachusetts Tax Exempt Income Fund                    | 811-04518         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Putnam BioRevolution ETF                                       | 811-23643         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam Global Income Trust                                     | 811-04524         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Templeton World Fund                                           | 811-02781         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Putnam Emerging Markets Ex-China ETF                           | 811-23643         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Putnam Strategic Intermediate Municipal Fund                   | 811-04345         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Templeton Foreign Fund                                         | 811-02781         |
| Putnam International Capital Opportunities Fund                | 811-07237         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Putnam VT International Value Fund                             | 811-05346         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Western Asset Bond ETF                                         | 811-23124         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Putnam ESG High Yield ETF                                      | 811-23643         |
| Putnam Sustainable Leaders ETF                                 | 811-23643         |
| Putnam Money Market Fund                                       | 811-02608         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                | 811-23643         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Putnam Government Money Market Fund                            | 811-07237         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Putnam BDC Income ETF                                          | 811-23643         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Putnam Research Fund                                           | 811-07237         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Putnam Tax Exempt Income Fund                                  | 811-02675         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Putnam High Yield Fund                                         | 811-04616         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Income VIP Fund                                       | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Putnam ESG Core Bond ETF                                       | 811-23643         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Putnam Short-Term Municipal Income Fund                        | 811-07513         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Putnam New Jersey Tax Exempt Income Fund                       | 811-05977         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| International Equity Series                                    | 811-06135         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Putnam Ohio Tax Exempt Income Fund                             | 811-04528         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Putnam Focused Large Cap Growth ETF                            | 811-23643         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Putnam New York Tax Exempt Income Fund                         | 811-03741         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Putnam Pennsylvania Tax Exempt Income Fund                     | 811-05802         |
| Putnam VT Government Money Market Fund                         | 811-05346         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Putnam Core Bond Fund                                          | 811-07513         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

### Management Investment Record: 4 - Putnam Focused Large Cap Value ETF

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Putnam Focused Large Cap Value ETF

- **b. Series identification number, if any:** S000071710

- **c. LEI:** 549300I6YUFRH81I6G12

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 0

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class              | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Putnam Focused Large Cap Value ETF | C000227196                                | PVAL                         |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [x] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** Yes

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 12d1-1 (17 CFR 270.12d1-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** STATE STREET BANK AND TRUST COMPANY

- **ii. SEC file number:** 085-05003

- **iii. LEI, if any:** 571474TGEMMWANRLN572

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** The Bank of New York Mellon

- **ii. SEC file number:** 085-05006

- **iii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iv. State, if applicable:** NY

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** JPM Pricing Direct

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** LSEG Pricing Service

- **ii. LEI, if any, or provide and describe other identifying number:** 213800QAUUUP6I445N30

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** Yes

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** STATE STREET BANK AND TRUST COMPANY

- **ii. LEI, if any:** 571474TGEMMWANRLN572

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any, or other identifying number:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $43,952.57

**Brokers Record: 2**

- **i. Full name of broker:** PIPER SANDLER & CO.

- **ii. SEC file number:** 008-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

- **v. State, if applicable:** MN

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $104,403.46

**Brokers Record: 3**

- **i. Full name of broker:** KEYBANC CAPITAL MARKETS, INC.

- **ii. SEC file number:** 008-30177

- **iii. CRD number:** 000000566

- **iv. LEI, if any:** 2EQWV0180Z211YVAD813

- **v. State, if applicable:** OH

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,853.65

**Brokers Record: 4**

- **i. Full name of broker:** BOFA SECURITIES, INC.

- **ii. SEC file number:** 008-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $39,997.75

**Brokers Record: 5**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $20,296.77

**Brokers Record: 6**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $35,674.53

**Brokers Record: 7**

- **i. Full name of broker:** CitiGroup Global Markets Inc.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $34,981.13

**Brokers Record: 8**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 008-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

- **v. State, if applicable:** FL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,500.08

**Brokers Record: 9**

- **i. Full name of broker:** Evercore Group L.L.C.

- **ii. SEC file number:** 008-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

- **v. State, if applicable:** DE

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,259.04

**Brokers Record: 10**

- **i. Full name of broker:** STIFEL NICHOLAS & CO., INC.

- **ii. SEC file number:** 008-01447

- **iii. CRD number:** 000000793

- **iv. LEI, if any:** 5WUVMA08EYG4KEUPW589

- **v. State, if applicable:** MO

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $24,481.17

**Aggregate Commission:** $383,667.50

**Item C.17.a. Principal transaction counterparties.**

| Name                       | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BARCLAYS CAPITAL, INC.     | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $24,985,347.22            |
| JANE STREET CAPITAL, LLC   | 008-52275         |    000103782 | 549300ZM16HMPEPNV857 | NY      | US        | $53,837,346.91            |
| RBC CAPITAL MARKETS, LLC   | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $89,770,344.11            |
| Goldman Sachs & Co. LLC    | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $66,206,606.40            |
| BOFA SECURITIES, INC.      | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $97,839,041.11            |
| J.P. Morgan Securities LLC | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $7,473,775.25             |
| VIRTU AMERICAS LLC         | 008-68193         |    000149823 | 549300RA02N3BNSWBV74 | NY      | US        | $5,104,768.60             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $345,217,229.60

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $2,208,683,627.86

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 2 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 3 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 4 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 7 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 8 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 9 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 11 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 13 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 14 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 16 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 17 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 18 Name of institution:** BARCLAYS BANK PLC

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                | 811-23643         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Putnam Tax-Free High Yield Fund                                | 811-04345         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Western Asset High Yield Fund                                  | 811-06110         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Putnam Massachusetts Tax Exempt Income Fund                    | 811-04518         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Putnam Sustainable Leaders ETF                                 | 811-23643         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Putnam Emerging Markets Ex-China ETF                           | 811-23643         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Putnam High Yield Fund                                         | 811-04616         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Templeton International Bond Fund                              | 811-04706         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Putnam International Capital Opportunities Fund                | 811-07237         |
| Putnam Income Fund                                             | 811-00653         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Putnam Tax Exempt Income Fund                                  | 811-02675         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Putnam Minnesota Tax Exempt Income Fund                        | 811-04527         |
| Franklin Growth Fund                                           | 811-00537         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Putnam Research Fund                                           | 811-07237         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Putnam New Jersey Tax Exempt Income Fund                       | 811-05977         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Putnam Money Market Fund                                       | 811-02608         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin DynaTech Fund                                         | 811-00537         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Putnam Pennsylvania Tax Exempt Income Fund                     | 811-05802         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Managed Income Fund                                   | 811-04986         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| ClearBridge Value Fund                                         | 811-22338         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Putnam ESG High Yield ETF                                      | 811-23643         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Putnam VT International Value Fund                             | 811-05346         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin High Income Fund                                      | 811-01608         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Putnam VT Government Money Market Fund                         | 811-05346         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin International Growth Fund                             | 811-10157         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Putnam Global Income Trust                                     | 811-04524         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Putnam BioRevolution ETF                                       | 811-23643         |
| Putnam International Value Fund                                | 811-07513         |
| Putnam BDC Income ETF                                          | 811-23643         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Putnam VT Income Fund                                          | 811-05346         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| ClearBridge International Value Fund                           | 811-06444         |
| Putnam California Tax Exempt Income Fund                       | 811-03630         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Putnam Sustainable Future ETF                                  | 811-23643         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Western Asset Bond ETF                                         | 811-23124         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Putnam ESG Ultra Short ETF                                     | 811-23643         |
| Putnam ESG Core Bond ETF                                       | 811-23643         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Templeton World Fund                                           | 811-02781         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| K2 Alternative Strategies Fund                                 | 811-22641         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Putnam PanAgora ESG International Equity ETF                   | 811-23643         |
| Putnam Short-Term Municipal Income Fund                        | 811-07513         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Putnam Intermediate-Term Municipal Income Fund                 | 811-07513         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Putnam Focused Large Cap Growth ETF                            | 811-23643         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Putnam Diversified Income Trust                                | 811-05635         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Putnam VT Research Fund                                        | 811-05346         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Putnam Government Money Market Fund                            | 811-07237         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Putnam Strategic Intermediate Municipal Fund                   | 811-04345         |
| International Equity Series                                    | 811-06135         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Select Fund                                        | 811-06444         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Putnam Ohio Tax Exempt Income Fund                             | 811-04528         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Putnam New York Tax Exempt Income Fund                         | 811-03741         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Western Asset Short Duration Income ETF                        | 811-23096         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

## Part E: Additional Questions for ETFs and ETMFs

### Putnam Focused Large Cap Growth ETF

**Item E.1 - Exchange**

- **Exchange:** ARCX

- **Ticker:** PGRO

**Item E.2 - Authorized Participants**

| Name                               | Purchase Value   | Redeem Value   |
|:---|:---|:---|
| ABN AMRO Clearing Chicago LLC      | $0.00            | $0.00          |
| Mirae Asset Securities (USA), Inc. | $0.00            | $0.00          |
| Citadel Securities LLC             | $0.00            | $0.00          |
| J.P. Morgan Securities LLC         | $0.00            | $0.00          |
| UBS Securities LLC                 | $0.00            | $0.00          |
| RBC Capital Markets, LLC           | $8,291,202.42    | $8,124,802.61  |
| Mizuho Securities USA LLC          | $0.00            | $0.00          |
| Jane Street Capital LLC            | $0.00            | $0.00          |
| Cantor Fitzgerald & Co.            | $0.00            | $0.00          |
| Morgan Stanley & Co. LLC           | $0.00            | $0.00          |
| BOFA SECURITIES, INC               | $907,019.45      | $0.00          |
| Goldman Sachs & Co. LLC            | $0.00            | $0.00          |
| Citigroup Global Markets, Inc.     | $1,879,620.00    | $1,840,764.00  |
| BNY Mellon Capital Markets, LLC    | $0.00            | $0.00          |
| Virtu Americas LLC                 | $0.00            | $0.00          |
| Jefferies LLC                      | $0.00            | $0.00          |

**Item E.3 - Creation Units**

- **a. Number of Fund shares required to form a creation unit:** 25,000.00

- **b.i. Average percentage of value composed of cash (purchased):** 89.98%

- **c.i. Average percentage of value composed of cash (redeemed):** 27.43%

- **d.i.2. Average transaction fee (dollars for one or more units, purchased):** $130.00

- **d.i.3. Average transaction fee (percentage of value, purchased):** 0.03%

- **Item E.5 - Is the Fund an 'In-Kind Exchange-Traded Fund'?** No

### Putnam Sustainable Leaders ETF

**Item E.1 - Exchange**

- **Exchange:** ARCX

- **Ticker:** PLDR

**Item E.2 - Authorized Participants**

| Name                               | Purchase Value   | Redeem Value    |
|:---|:---|:---|
| Jane Street Capital LLC            | $0.00            | $0.00           |
| Morgan Stanley & Co. LLC           | $0.00            | $0.00           |
| Virtu Americas LLC                 | $0.00            | $0.00           |
| Cantor Fitzgerald & Co.            | $0.00            | $0.00           |
| Mirae Asset Securities (USA), Inc. | $0.00            | $0.00           |
| Mizuho Securities USA LLC          | $0.00            | $0.00           |
| Jefferies LLC                      | $0.00            | $0.00           |
| Citadel Securities LLC             | $26,414,159.00   | $2,615,695.00   |
| J.P. Morgan Securities LLC         | $0.00            | $0.00           |
| RBC Capital Markets, LLC           | $40,436,757.90   | $53,709,227.19  |
| BNY Mellon Capital Markets, LLC    | $0.00            | $0.00           |
| Goldman Sachs & Co. LLC            | $117,276,727.36  | $109,612,578.67 |
| ABN AMRO Clearing Chicago LLC      | $0.00            | $0.00           |
| BOFA SECURITIES, INC               | $209,585,427.96  | $89,233,426.96  |
| UBS Securities LLC                 | $0.00            | $0.00           |
| Citigroup Global Markets, Inc.     | $4,263,543.00    | $4,190,216.00   |

**Item E.3 - Creation Units**

- **a. Number of Fund shares required to form a creation unit:** 25,000.00

- **b.i. Average percentage of value composed of cash (purchased):** 52.49%

- **c.i. Average percentage of value composed of cash (redeemed):** 14.33%

- **d.i.2. Average transaction fee (dollars for one or more units, purchased):** $218.14

- **d.i.3. Average transaction fee (percentage of value, purchased):** 0.05%

- **Item E.5 - Is the Fund an 'In-Kind Exchange-Traded Fund'?** No

### Putnam Sustainable Future ETF

**Item E.1 - Exchange**

- **Exchange:** ARCX

- **Ticker:** PFUT

**Item E.2 - Authorized Participants**

| Name                               | Purchase Value   | Redeem Value   |
|:---|:---|:---|
| Virtu Americas LLC                 | $0.00            | $0.00          |
| Jane Street Capital LLC            | $0.00            | $0.00          |
| BNY Mellon Capital Markets, LLC    | $0.00            | $0.00          |
| Citadel Securities LLC             | $32,402,793.00   | $9,330,343.00  |
| Citigroup Global Markets, Inc.     | $21,390,749.00   | $21,060,019.00 |
| Goldman Sachs & Co. LLC            | $81,137,692.58   | $79,969,478.31 |
| RBC Capital Markets, LLC           | $23,417,095.19   | $20,277,547.23 |
| Mirae Asset Securities (USA), Inc. | $0.00            | $0.00          |
| Jefferies LLC                      | $0.00            | $0.00          |
| ABN AMRO Clearing Chicago LLC      | $0.00            | $0.00          |
| J.P. Morgan Securities LLC         | $0.00            | $0.00          |
| Morgan Stanley & Co. LLC           | $0.00            | $0.00          |
| Mizuho Securities USA LLC          | $0.00            | $0.00          |
| UBS Securities LLC                 | $0.00            | $0.00          |
| BOFA SECURITIES, INC               | $75,107,341.79   | $35,201,957.64 |
| Cantor Fitzgerald & Co.            | $0.00            | $0.00          |

**Item E.3 - Creation Units**

- **a. Number of Fund shares required to form a creation unit:** 25,000.00

- **b.i. Average percentage of value composed of cash (purchased):** 62.17%

- **c.i. Average percentage of value composed of cash (redeemed):** 11.97%

- **d.i.2. Average transaction fee (dollars for one or more units, purchased):** $250.00

- **d.i.3. Average transaction fee (percentage of value, purchased):** 0.06%

- **Item E.5 - Is the Fund an 'In-Kind Exchange-Traded Fund'?** No

### Putnam Focused Large Cap Value ETF

**Item E.1 - Exchange**

- **Exchange:** ARCX

- **Ticker:** PVAL

**Item E.2 - Authorized Participants**

| Name                               | Purchase Value   | Redeem Value    |
|:---|:---|:---|
| BNY Mellon Capital Markets, LLC    | $0.00            | $0.00           |
| BOFA SECURITIES, INC               | $903,853,627.97  | $18,677,359.85  |
| ABN AMRO Clearing Chicago LLC      | $0.00            | $0.00           |
| Cantor Fitzgerald & Co.            | $0.00            | $0.00           |
| Citadel Securities LLC             | $105,236,354.00  | $17,967,061.00  |
| Mizuho Securities USA LLC          | $0.00            | $0.00           |
| Virtu Americas LLC                 | $141,168,376.37  | $5,458,170.65   |
| J.P. Morgan Securities LLC         | $92,950,192.18   | $7,816,618.40   |
| Mirae Asset Securities (USA), Inc. | $0.00            | $0.00           |
| Jane Street Capital LLC            | $57,505,055.94   | $0.00           |
| UBS Securities LLC                 | $0.00            | $0.00           |
| Morgan Stanley & Co. LLC           | $5,747,589.00    | $0.00           |
| RBC Capital Markets, LLC           | $835,648,605.52  | $0.00           |
| Citigroup Global Markets, Inc.     | $42,646,525.00   | $43,055,488.00  |
| Goldman Sachs & Co. LLC            | $602,079,861.79  | $200,603,540.14 |
| Jefferies LLC                      | $0.00            | $0.00           |

**Item E.3 - Creation Units**

- **a. Number of Fund shares required to form a creation unit:** 25,000.00

- **b.i. Average percentage of value composed of cash (purchased):** 17.86%

- **c.i. Average percentage of value composed of cash (redeemed):** 2.32%

- **d.i.2. Average transaction fee (dollars for one or more units, purchased):** $250.00

- **d.i.3. Average transaction fee (percentage of value, purchased):** 0.04%

- **Item E.5 - Is the Fund an 'In-Kind Exchange-Traded Fund'?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Putnam ETF Trust

**Date:** 2025-11-12

**Signature:** Monica Krogh

**Title:** Assistant Treasuer