# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000940400-26-012041
**Filing Date:** 2026-3
**Character Count:** 85715
**Document Hash:** 0b76bc132d91256dff41d655b202c834
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-012041.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0000940400-26-012041

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**PERIOD START**: 20260430

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23643
- **FILM NUMBER:** 26812317

**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 PanAgora ESG International Equity ETF (Series ID: S000077301)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000237598 | -            |  |

## Nport-Ex

Schedule of Investments (unaudited)

January 31, 2026

***If you need assistance accessing this content, please reach out to your sales representative or send an email to*** <u>accessibility@franklintempleton.com.</u>

 **Putnam PanAgora ESG International Equity ETF**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| **Common Stocks — 99.5%** | **Common Stocks — 99.5%** | **Common Stocks — 99.5%** |
| **Communication Services — 3.6%** | **Communication Services — 3.6%** | **Communication Services — 3.6%** |
| *Diversified Telecommunication Services — 1.1%* | *Diversified Telecommunication Services — 1.1%* | *Diversified Telecommunication Services — 1.1%* |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | &nbsp;&nbsp; 274628 | &nbsp;&nbsp;&nbsp; $1337278<br>|
| &nbsp;&nbsp;&nbsp; Telstra Group Ltd. | &nbsp;&nbsp; 553754 | &nbsp;&nbsp;&nbsp; 1881761<br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *3219039* |
| *Entertainment — 0.3%* | *Entertainment — 0.3%* | *Entertainment — 0.3%* |
| &nbsp;&nbsp;&nbsp; Capcom Co. Ltd. | &nbsp;&nbsp; 29600 | &nbsp;&nbsp;&nbsp; *752815*<br>|
| *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; LY Corp. | &nbsp;&nbsp; 247800 | &nbsp;&nbsp;&nbsp; 635031<br>|
| &nbsp;&nbsp;&nbsp; Scout24 SE | &nbsp;&nbsp; 6116 | &nbsp;&nbsp;&nbsp; 609329<br> <sup>(a)</sup><br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *1244360* |
| *Media — 0.7%* | *Media — 0.7%* | *Media — 0.7%* |
| &nbsp;&nbsp;&nbsp; Informa PLC | &nbsp;&nbsp; 167257 | &nbsp;&nbsp;&nbsp; *2014022*<br>|
| *Wireless Telecommunication Services — 1.1%* | *Wireless Telecommunication Services — 1.1%* | *Wireless Telecommunication Services — 1.1%* |
| &nbsp;&nbsp;&nbsp; KDDI Corp. | &nbsp;&nbsp; 180200 | &nbsp;&nbsp;&nbsp; *3034966*<br>|
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **10265202** |
| **Consumer Discretionary — 8.8%** | **Consumer Discretionary — 8.8%** | **Consumer Discretionary — 8.8%** |
| *Automobile Components — 1.2%* | *Automobile Components — 1.2%* | *Automobile Components — 1.2%* |
| &nbsp;&nbsp;&nbsp; Bridgestone Corp. | &nbsp;&nbsp; 41000 | &nbsp;&nbsp;&nbsp; 923268<br>|
| &nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 44200 | &nbsp;&nbsp;&nbsp; 1642503<br>|
| &nbsp;&nbsp;&nbsp; Denso Corp. | &nbsp;&nbsp; 66300 | &nbsp;&nbsp;&nbsp; 918073<br>|
| *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *3483844* |
| *Automobiles — 0.3%* | *Automobiles — 0.3%* | *Automobiles — 0.3%* |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Group AG | &nbsp;&nbsp; 13238 | &nbsp;&nbsp;&nbsp; *906821*<br>|
| *Broadline Retail — 1.3%* | *Broadline Retail — 1.3%* | *Broadline Retail — 1.3%* |
| &nbsp;&nbsp;&nbsp; Prosus NV | &nbsp;&nbsp; 33496 | &nbsp;&nbsp;&nbsp; 1923880<br>|
| &nbsp;&nbsp;&nbsp; Ryohin Keikaku Co. Ltd. | &nbsp;&nbsp; 40900 | &nbsp;&nbsp;&nbsp; 814247<br>|
| &nbsp;&nbsp;&nbsp; Sea Ltd., ADR | &nbsp;&nbsp; 8854 | &nbsp;&nbsp;&nbsp; 1,031,403<br> \*<br>|
| *Total Broadline Retail* | *Total Broadline Retail* | &nbsp;&nbsp; *3769530* |
| *Hotels, Restaurants & Leisure — 0.6%* | *Hotels, Restaurants & Leisure — 0.6%* | *Hotels, Restaurants & Leisure — 0.6%* |
| &nbsp;&nbsp;&nbsp; Amadeus IT Group SA | &nbsp;&nbsp; 16747 | &nbsp;&nbsp;&nbsp; 1123966<br>|
| &nbsp;&nbsp;&nbsp; Aristocrat Leisure Ltd. | &nbsp;&nbsp; 16549 | &nbsp;&nbsp;&nbsp; 617220<br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *1741186* |
| *Household Durables — 3.2%* | *Household Durables — 3.2%* | *Household Durables — 3.2%* |
| &nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. | &nbsp;&nbsp; 87400 | &nbsp;&nbsp;&nbsp; 1195566<br>|
| &nbsp;&nbsp;&nbsp; Sony Group Corp. | &nbsp;&nbsp; 359300 | &nbsp;&nbsp;&nbsp; 8019011<br>|
| *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *9214577* |
| *Specialty Retail — 1.2%* | *Specialty Retail — 1.2%* | *Specialty Retail — 1.2%* |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | &nbsp;&nbsp; 22831 | &nbsp;&nbsp;&nbsp; 1488449<br>|
| &nbsp;&nbsp;&nbsp; Kingfisher PLC | &nbsp;&nbsp; 200044 | &nbsp;&nbsp;&nbsp; 923840<br>|
| &nbsp;&nbsp;&nbsp; Zalando SE | &nbsp;&nbsp; 28793 | &nbsp;&nbsp;&nbsp; 830,719<br> \*<sup>(a)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *3243008* |
| *Textiles, Apparel & Luxury Goods — 1.0%* | *Textiles, Apparel & Luxury Goods — 1.0%* | *Textiles, Apparel & Luxury Goods — 1.0%* |
| &nbsp;&nbsp;&nbsp; adidas AG | &nbsp;&nbsp; 5464 | &nbsp;&nbsp;&nbsp; 966007<br>|
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 2909 | &nbsp;&nbsp;&nbsp; 1885811<br>|
| *Total Textiles, Apparel & Luxury Goods* | *Total Textiles, Apparel & Luxury Goods* | &nbsp;&nbsp; *2851818* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **25210784** |

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG International Equity ETF 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Putnam PanAgora ESG International Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| **Consumer Staples — 6.5%** | **Consumer Staples — 6.5%** | **Consumer Staples — 6.5%** |
| *Consumer Staples Distribution & Retail — 3.4%* | *Consumer Staples Distribution & Retail — 3.4%* | *Consumer Staples Distribution & Retail — 3.4%* |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 41556 | &nbsp;&nbsp;&nbsp; $1623556<br>|
| &nbsp;&nbsp;&nbsp; MatsukiyoCocokara & Co. | &nbsp;&nbsp; 55600 | &nbsp;&nbsp;&nbsp; 890261<br>|
| &nbsp;&nbsp;&nbsp; Tesco PLC | &nbsp;&nbsp; 1241080 | &nbsp;&nbsp;&nbsp; 7220884<br>|
| *Total Consumer Staples Distribution & Retail* | *Total Consumer Staples Distribution & Retail* | &nbsp;&nbsp; *9734701* |
| *Food Products — 2.2%* | *Food Products — 2.2%* | *Food Products — 2.2%* |
| &nbsp;&nbsp;&nbsp; Danone SA | &nbsp;&nbsp; 40969 | &nbsp;&nbsp;&nbsp; 3197361<br>|
| &nbsp;&nbsp;&nbsp; Mowi ASA | &nbsp;&nbsp; 99280 | &nbsp;&nbsp;&nbsp; 2282394<br>|
| &nbsp;&nbsp;&nbsp; Orkla ASA | &nbsp;&nbsp; 61382 | &nbsp;&nbsp;&nbsp; 727877<br>|
| *Total Food Products* | *Total Food Products* | &nbsp;&nbsp; *6207632* |
| *Household Products — 0.9%* | *Household Products — 0.9%* | *Household Products — 0.9%* |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA | &nbsp;&nbsp; 12776 | &nbsp;&nbsp;&nbsp; 1054781<br>|
| &nbsp;&nbsp;&nbsp; Reckitt Benckiser Group PLC | &nbsp;&nbsp; 19760 | &nbsp;&nbsp;&nbsp; 1647192<br>|
| *Total Household Products* | *Total Household Products* | &nbsp;&nbsp; *2701973* |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **18644306** |
| **Energy — 2.8%** | **Energy — 2.8%** | **Energy — 2.8%** |
| *Oil, Gas & Consumable Fuels — 2.8%* | *Oil, Gas & Consumable Fuels — 2.8%* | *Oil, Gas & Consumable Fuels — 2.8%* |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings Inc. | &nbsp;&nbsp; 123600 | &nbsp;&nbsp;&nbsp; 1037055<br>|
| &nbsp;&nbsp;&nbsp; Shell PLC | &nbsp;&nbsp; 151036 | &nbsp;&nbsp;&nbsp; 5774364<br>|
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | &nbsp;&nbsp; 15417 | &nbsp;&nbsp;&nbsp; 1117488<br>|
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **7928907** |
| **Financials — 25.5%** | **Financials — 25.5%** | **Financials — 25.5%** |
| *Banks — 15.5%* | *Banks — 15.5%* | *Banks — 15.5%* |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | &nbsp;&nbsp; 46083 | &nbsp;&nbsp;&nbsp; 588852<br>|
| &nbsp;&nbsp;&nbsp; Barclays PLC, ADR | &nbsp;&nbsp; 222019 | &nbsp;&nbsp;&nbsp; 5939008<br>|
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | &nbsp;&nbsp; 19413 | &nbsp;&nbsp;&nbsp; 2098621<br>|
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 9754 | &nbsp;&nbsp;&nbsp; 901438<br>|
| &nbsp;&nbsp;&nbsp; Danske Bank A/S | &nbsp;&nbsp; 34189 | &nbsp;&nbsp;&nbsp; 1744627<br>|
| &nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. | &nbsp;&nbsp; 50100 | &nbsp;&nbsp;&nbsp; 2331515<br>|
| &nbsp;&nbsp;&nbsp; ING Groep NV | &nbsp;&nbsp; 104017 | &nbsp;&nbsp;&nbsp; 3060219<br>|
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | &nbsp;&nbsp; 1304381 | &nbsp;&nbsp;&nbsp; 9224316<br>|
| &nbsp;&nbsp;&nbsp; Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 66800 | &nbsp;&nbsp;&nbsp; 1182683<br>|
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 205200 | &nbsp;&nbsp;&nbsp; 3718554<br>|
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada | &nbsp;&nbsp; 5210 | &nbsp;&nbsp;&nbsp; 867485<br>|
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, Class A Shares | &nbsp;&nbsp; 82733 | &nbsp;&nbsp;&nbsp; 1777262<br>|
| &nbsp;&nbsp;&nbsp; Societe Generale SA | &nbsp;&nbsp; 28439 | &nbsp;&nbsp;&nbsp; 2487809<br>|
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp; 2050762<br>|
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Trust Group Inc. | &nbsp;&nbsp; 72500 | &nbsp;&nbsp;&nbsp; 2397616<br>|
| &nbsp;&nbsp;&nbsp; UniCredit SpA | &nbsp;&nbsp; 43217 | &nbsp;&nbsp;&nbsp; 3762642<br>|
| *Total Banks* | *Total Banks* | &nbsp;&nbsp; *44133409* |
| *Capital Markets — 3.9%* | *Capital Markets — 3.9%* | *Capital Markets — 3.9%* |
| &nbsp;&nbsp;&nbsp; 3i Group PLC | &nbsp;&nbsp; 140129 | &nbsp;&nbsp;&nbsp; 6425394<br>|
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG, Registered Shares | &nbsp;&nbsp; 39603 | &nbsp;&nbsp;&nbsp; 1563215<br>|
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 33100 | &nbsp;&nbsp;&nbsp; 1831238<br>|
| &nbsp;&nbsp;&nbsp; Singapore Exchange Ltd. | &nbsp;&nbsp; 99600 | &nbsp;&nbsp;&nbsp; 1380354<br>|
| *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *11200201* |

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG International Equity ETF 2026 Quarterly Report

------

 **Putnam PanAgora ESG International Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Financial Services — 0.6%* | *Financial Services — 0.6%* | *Financial Services — 0.6%* |
| &nbsp;&nbsp;&nbsp; ORIX Corp. | &nbsp;&nbsp; 55600 | &nbsp;&nbsp;&nbsp; $*1686394*<br>|
| *Insurance — 5.5%* | *Insurance — 5.5%* | *Insurance — 5.5%* |
| &nbsp;&nbsp;&nbsp; Aegon Ltd. | &nbsp;&nbsp; 129496 | &nbsp;&nbsp;&nbsp; 1009710<br>|
| &nbsp;&nbsp;&nbsp; Allianz SE, Registered Shares | &nbsp;&nbsp; 1912 | &nbsp;&nbsp;&nbsp; 842643<br>|
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | &nbsp;&nbsp; 15616 | &nbsp;&nbsp;&nbsp; 1132467<br>|
| &nbsp;&nbsp;&nbsp; Aviva PLC | &nbsp;&nbsp; 132915 | &nbsp;&nbsp;&nbsp; 1156357<br>|
| &nbsp;&nbsp;&nbsp; AXA SA | &nbsp;&nbsp; 31646 | &nbsp;&nbsp;&nbsp; 1441570<br>|
| &nbsp;&nbsp;&nbsp; NN Group NV | &nbsp;&nbsp; 25884 | &nbsp;&nbsp;&nbsp; 2048917<br>|
| &nbsp;&nbsp;&nbsp; QBE Insurance Group Ltd. | &nbsp;&nbsp; 165417 | &nbsp;&nbsp;&nbsp; 2273814<br>|
| &nbsp;&nbsp;&nbsp; Sampo oyj, Class A Shares | &nbsp;&nbsp; 121399 | &nbsp;&nbsp;&nbsp; 1352662<br>|
| &nbsp;&nbsp;&nbsp; Sompo Holdings Inc. | &nbsp;&nbsp; 44700 | &nbsp;&nbsp;&nbsp; 1535443<br>|
| &nbsp;&nbsp;&nbsp; Swiss Re AG | &nbsp;&nbsp; 14469 | &nbsp;&nbsp;&nbsp; 2,310,586<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Talanx AG | &nbsp;&nbsp; 5025 | &nbsp;&nbsp;&nbsp; 634355<br>|
| *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *15738524* |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **72758528** |
| **Health Care — 11.7%** | **Health Care — 11.7%** | **Health Care — 11.7%** |
| *Biotechnology — 0.6%* | *Biotechnology — 0.6%* | *Biotechnology — 0.6%* |
| &nbsp;&nbsp;&nbsp; Genmab A/S, ADR | &nbsp;&nbsp; 23904 | &nbsp;&nbsp;&nbsp; 779,987<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Swedish Orphan Biovitrum AB | &nbsp;&nbsp; 23942 | &nbsp;&nbsp;&nbsp; 905,805<br> \*<br>|
| *Total Biotechnology* | *Total Biotechnology* | &nbsp;&nbsp; *1685792* |
| *Health Care Equipment & Supplies — 2.8%* | *Health Care Equipment & Supplies — 2.8%* | *Health Care Equipment & Supplies — 2.8%* |
| &nbsp;&nbsp;&nbsp; Alcon AG | &nbsp;&nbsp; 43185 | &nbsp;&nbsp;&nbsp; 3486977<br>|
| &nbsp;&nbsp;&nbsp; Convatec Group PLC | &nbsp;&nbsp; 170325 | &nbsp;&nbsp;&nbsp; 536048<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EssilorLuxottica SA | &nbsp;&nbsp; 5971 | &nbsp;&nbsp;&nbsp; 1825344<br>|
| &nbsp;&nbsp;&nbsp; Hoya Corp. | &nbsp;&nbsp; 8600 | &nbsp;&nbsp;&nbsp; 1437594<br>|
| &nbsp;&nbsp;&nbsp; Smith & Nephew PLC | &nbsp;&nbsp; 42657 | &nbsp;&nbsp;&nbsp; 724952<br>|
| *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | &nbsp;&nbsp; *8010915* |
| *Health Care Providers & Services — 1.0%* | *Health Care Providers & Services — 1.0%* | *Health Care Providers & Services — 1.0%* |
| &nbsp;&nbsp;&nbsp; Fresenius SE & Co. KGaA | &nbsp;&nbsp; 49727 | &nbsp;&nbsp;&nbsp; *2782740*<br>|
| *Life Sciences Tools & Services — 1.0%* | *Life Sciences Tools & Services — 1.0%* | *Life Sciences Tools & Services — 1.0%* |
| &nbsp;&nbsp;&nbsp; Lonza Group AG, Registered Shares | &nbsp;&nbsp; 4078 | &nbsp;&nbsp;&nbsp; *2769485*<br>|
| *Pharmaceuticals — 6.3%* | *Pharmaceuticals — 6.3%* | *Pharmaceuticals — 6.3%* |
| &nbsp;&nbsp;&nbsp; Bayer AG, Registered Shares | &nbsp;&nbsp; 23173 | &nbsp;&nbsp;&nbsp; 1223979<br>|
| &nbsp;&nbsp;&nbsp; Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 58500 | &nbsp;&nbsp;&nbsp; 1072021<br>|
| &nbsp;&nbsp;&nbsp; Galderma Group AG | &nbsp;&nbsp; 6388 | &nbsp;&nbsp;&nbsp; 1189099<br>|
| &nbsp;&nbsp;&nbsp; Ipsen SA | &nbsp;&nbsp; 5428 | &nbsp;&nbsp;&nbsp; 885329<br>|
| &nbsp;&nbsp;&nbsp; Novartis AG, Registered Shares | &nbsp;&nbsp; 65795 | &nbsp;&nbsp;&nbsp; 9755414<br>|
| &nbsp;&nbsp;&nbsp; Sanofi SA | &nbsp;&nbsp; 25397 | &nbsp;&nbsp;&nbsp; 2384263<br>|
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 47200 | &nbsp;&nbsp;&nbsp; 1598749<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *18108854* |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **33357786** |
| **Industrials — 20.3%** | **Industrials — 20.3%** | **Industrials — 20.3%** |
| *Building Products — 1.4%* | *Building Products — 1.4%* | *Building Products — 1.4%* |
| &nbsp;&nbsp;&nbsp; Cie de Saint-Gobain SA | &nbsp;&nbsp; 39835 | &nbsp;&nbsp;&nbsp; *3929515*<br>|
| *Commercial Services & Supplies — 0.9%* | *Commercial Services & Supplies — 0.9%* | *Commercial Services & Supplies — 0.9%* |
| &nbsp;&nbsp;&nbsp; Brambles Ltd. | &nbsp;&nbsp; 166579 | &nbsp;&nbsp;&nbsp; *2598340*<br>|

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG International Equity ETF 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Putnam PanAgora ESG International Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Construction & Engineering — 3.5%* | *Construction & Engineering — 3.5%* | *Construction & Engineering — 3.5%* |
| &nbsp;&nbsp;&nbsp; Eiffage SA | &nbsp;&nbsp; 13343 | &nbsp;&nbsp;&nbsp; $1976224<br>|
| &nbsp;&nbsp;&nbsp; Stantec Inc. | &nbsp;&nbsp; 6239 | &nbsp;&nbsp;&nbsp; 618287<br>|
| &nbsp;&nbsp;&nbsp; Vinci SA | &nbsp;&nbsp; 50518 | &nbsp;&nbsp;&nbsp; 7254642<br>|
| *Total Construction & Engineering* | *Total Construction & Engineering* | &nbsp;&nbsp; *9849153* |
| *Electrical Equipment — 0.9%* | *Electrical Equipment — 0.9%* | *Electrical Equipment — 0.9%* |
| &nbsp;&nbsp;&nbsp; Legrand SA | &nbsp;&nbsp; 9535 | &nbsp;&nbsp;&nbsp; 1525811<br>|
| &nbsp;&nbsp;&nbsp; Schneider Electric SE | &nbsp;&nbsp; 3924 | &nbsp;&nbsp;&nbsp; 1127013<br>|
| *Total Electrical Equipment* | *Total Electrical Equipment* | &nbsp;&nbsp; *2652824* |
| *Industrial Conglomerates — 2.9%* | *Industrial Conglomerates — 2.9%* | *Industrial Conglomerates — 2.9%* |
| &nbsp;&nbsp;&nbsp; Hitachi Ltd. | &nbsp;&nbsp; 51500 | &nbsp;&nbsp;&nbsp; 1783998<br>|
| &nbsp;&nbsp;&nbsp; Siemens AG, Registered Shares | &nbsp;&nbsp; 17411 | &nbsp;&nbsp;&nbsp; 5289551<br>|
| &nbsp;&nbsp;&nbsp; Smiths Group PLC | &nbsp;&nbsp; 38344 | &nbsp;&nbsp;&nbsp; 1316947<br>|
| *Total Industrial Conglomerates* | *Total Industrial Conglomerates* | &nbsp;&nbsp; *8390496* |
| *Machinery — 3.7%* | *Machinery — 3.7%* | *Machinery — 3.7%* |
| &nbsp;&nbsp;&nbsp; FANUC Corp. | &nbsp;&nbsp; 165700 | &nbsp;&nbsp;&nbsp; 6712156<br>|
| &nbsp;&nbsp;&nbsp; GEA Group AG | &nbsp;&nbsp; 12377 | &nbsp;&nbsp;&nbsp; 886133<br>|
| &nbsp;&nbsp;&nbsp; Sandvik AB | &nbsp;&nbsp; 76471 | &nbsp;&nbsp;&nbsp; 3019349<br>|
| *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *10617638* |
| *Passenger Airlines — 0.8%* | *Passenger Airlines — 0.8%* | *Passenger Airlines — 0.8%* |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA | &nbsp;&nbsp; 155276 | &nbsp;&nbsp;&nbsp; 888558<br>|
| &nbsp;&nbsp;&nbsp; Ryanair Holdings PLC | &nbsp;&nbsp; 40621 | &nbsp;&nbsp;&nbsp; 1377574<br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *2266132* |
| *Professional Services — 0.6%* | *Professional Services — 0.6%* | *Professional Services — 0.6%* |
| &nbsp;&nbsp;&nbsp; Experian PLC | &nbsp;&nbsp; 17878 | &nbsp;&nbsp;&nbsp; 674700<br>|
| &nbsp;&nbsp;&nbsp; Wolters Kluwer NV | &nbsp;&nbsp; 9411 | &nbsp;&nbsp;&nbsp; 879932<br>|
| *Total Professional Services* | *Total Professional Services* | &nbsp;&nbsp; *1554632* |
| *Trading Companies & Distributors — 5.3%* | *Trading Companies & Distributors — 5.3%* | *Trading Companies & Distributors — 5.3%* |
| &nbsp;&nbsp;&nbsp; AerCap Holdings NV | &nbsp;&nbsp; 10189 | &nbsp;&nbsp;&nbsp; 1463752<br>|
| &nbsp;&nbsp;&nbsp; ITOCHU Corp. | &nbsp;&nbsp; 513600 | &nbsp;&nbsp;&nbsp; 6541132<br>|
| &nbsp;&nbsp;&nbsp; Marubeni Corp. | &nbsp;&nbsp; 34600 | &nbsp;&nbsp;&nbsp; 1143570<br>|
| &nbsp;&nbsp;&nbsp; Mitsubishi Corp. | &nbsp;&nbsp; 76600 | &nbsp;&nbsp;&nbsp; 2027851<br>|
| &nbsp;&nbsp;&nbsp; Mitsui & Co. Ltd. | &nbsp;&nbsp; 122400 | &nbsp;&nbsp;&nbsp; 3982192<br>|
| *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | &nbsp;&nbsp; *15158497* |
| *Transportation Infrastructure — 0.3%* | *Transportation Infrastructure — 0.3%* | *Transportation Infrastructure — 0.3%* |
| &nbsp;&nbsp;&nbsp; Getlink SE | &nbsp;&nbsp; 37989 | &nbsp;&nbsp;&nbsp; *752455*<br>|
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **57769682** |
| **Information Technology — 9.7%** | **Information Technology — 9.7%** | **Information Technology — 9.7%** |
| *Communications Equipment — 0.6%* | *Communications Equipment — 0.6%* | *Communications Equipment — 0.6%* |
| &nbsp;&nbsp;&nbsp; Nokia oyj, ADR | &nbsp;&nbsp; 269592 | &nbsp;&nbsp;&nbsp; *1733477*<br>|
| *Electronic Equipment, Instruments & Components — 0.5%* | *Electronic Equipment, Instruments & Components — 0.5%* | *Electronic Equipment, Instruments & Components — 0.5%* |
| &nbsp;&nbsp;&nbsp; Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 67700 | &nbsp;&nbsp;&nbsp; *1371848*<br>|
| *IT Services — 3.2%* | *IT Services — 3.2%* | *IT Services — 3.2%* |
| &nbsp;&nbsp;&nbsp; Capgemini SE | &nbsp;&nbsp; 17916 | &nbsp;&nbsp;&nbsp; 2786258<br>|
| &nbsp;&nbsp;&nbsp; Fujitsu Ltd. | &nbsp;&nbsp; 51900 | &nbsp;&nbsp;&nbsp; 1436338<br>|
| &nbsp;&nbsp;&nbsp; NEC Corp. | &nbsp;&nbsp; 149700 | &nbsp;&nbsp;&nbsp; 5039655<br>|
| *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *9262251* |

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG International Equity ETF 2026 Quarterly Report

------

 **Putnam PanAgora ESG International Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Semiconductors & Semiconductor Equipment — 5.0%* | *Semiconductors & Semiconductor Equipment — 5.0%* | *Semiconductors & Semiconductor Equipment — 5.0%* |
| &nbsp;&nbsp;&nbsp; ASM International NV | &nbsp;&nbsp; 1345 | &nbsp;&nbsp;&nbsp; $1131631<br>|
| &nbsp;&nbsp;&nbsp; ASML Holding NV, Registered Shares | &nbsp;&nbsp; 8278 | &nbsp;&nbsp;&nbsp; 11779594<br>|
| &nbsp;&nbsp;&nbsp; Renesas Electronics Corp. | &nbsp;&nbsp; 77900 | &nbsp;&nbsp;&nbsp; 1,296,655<br> \*<br>|
| *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | &nbsp;&nbsp; *14207880* |
| *Software — 0.4%* | *Software — 0.4%* | *Software — 0.4%* |
| &nbsp;&nbsp;&nbsp; Sage Group PLC | &nbsp;&nbsp; 80222 | &nbsp;&nbsp;&nbsp; *1050955*<br>|
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **27626411** |
| **Materials — 6.5%** | **Materials — 6.5%** | **Materials — 6.5%** |
| *Construction Materials — 0.9%* | *Construction Materials — 0.9%* | *Construction Materials — 0.9%* |
| &nbsp;&nbsp;&nbsp; CRH PLC | &nbsp;&nbsp; 6334 | &nbsp;&nbsp;&nbsp; 775345<br>|
| &nbsp;&nbsp;&nbsp; Holcim AG | &nbsp;&nbsp; 17375 | &nbsp;&nbsp;&nbsp; 1,787,734<br> \*<br>|
| *Total Construction Materials* | *Total Construction Materials* | &nbsp;&nbsp; *2563079* |
| *Metals & Mining — 5.3%* | *Metals & Mining — 5.3%* | *Metals & Mining — 5.3%* |
| &nbsp;&nbsp;&nbsp; BHP Group Ltd. | &nbsp;&nbsp; 118186 | &nbsp;&nbsp;&nbsp; 4161853<br>|
| &nbsp;&nbsp;&nbsp; Boliden AB | &nbsp;&nbsp; 34341 | &nbsp;&nbsp;&nbsp; 2,415,725<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Norsk Hydro ASA | &nbsp;&nbsp; 151439 | &nbsp;&nbsp;&nbsp; 1357376<br>|
| &nbsp;&nbsp;&nbsp; Northern Star Resources Ltd. | &nbsp;&nbsp; 148092 | &nbsp;&nbsp;&nbsp; 2984405<br>|
| &nbsp;&nbsp;&nbsp; Rio Tinto PLC, ADR | &nbsp;&nbsp; 19923 | &nbsp;&nbsp;&nbsp; 1813591<br>|
| &nbsp;&nbsp;&nbsp; South32 Ltd. | &nbsp;&nbsp; 591513 | &nbsp;&nbsp;&nbsp; 1902979<br>|
| &nbsp;&nbsp;&nbsp; Wheaton Precious Metals Corp. | &nbsp;&nbsp; 3178 | &nbsp;&nbsp;&nbsp; 419083<br>|
| *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *15055012* |
| *Paper & Forest Products — 0.3%* | *Paper & Forest Products — 0.3%* | *Paper & Forest Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; UPM-Kymmene oyj | &nbsp;&nbsp; 34151 | &nbsp;&nbsp;&nbsp; *946038*<br>|
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **18564129** |
| **Real Estate — 0.9%** | **Real Estate — 0.9%** | **Real Estate — 0.9%** |
| *Diversified REITs — 0.3%* | *Diversified REITs — 0.3%* | *Diversified REITs — 0.3%* |
| &nbsp;&nbsp;&nbsp; CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 505008 | &nbsp;&nbsp;&nbsp; *948801*<br>|
| *Retail REITs — 0.6%* | *Retail REITs — 0.6%* | *Retail REITs — 0.6%* |
| &nbsp;&nbsp;&nbsp; Klepierre SA | &nbsp;&nbsp; 17602 | &nbsp;&nbsp;&nbsp; 676845<br>|
| &nbsp;&nbsp;&nbsp; Scentre Group | &nbsp;&nbsp; 357828 | &nbsp;&nbsp;&nbsp; 1016628<br>|
| *Total Retail REITs* | *Total Retail REITs* | &nbsp;&nbsp; *1693473* |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **2642274** |
| **Utilities — 3.2%** | **Utilities — 3.2%** | **Utilities — 3.2%** |
| *Electric Utilities — 1.6%* | *Electric Utilities — 1.6%* | *Electric Utilities — 1.6%* |
| &nbsp;&nbsp;&nbsp; EDP SA | &nbsp;&nbsp; 251273 | &nbsp;&nbsp;&nbsp; 1285803<br>|
| &nbsp;&nbsp;&nbsp; Endesa SA | &nbsp;&nbsp; 23110 | &nbsp;&nbsp;&nbsp; 851662<br>|
| &nbsp;&nbsp;&nbsp; Fortum oyj | &nbsp;&nbsp; 100943 | &nbsp;&nbsp;&nbsp; 2382884<br>|
| *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *4520349* |
| *Multi-Utilities — 1.6%* | *Multi-Utilities — 1.6%* | *Multi-Utilities — 1.6%* |
| &nbsp;&nbsp;&nbsp; Centrica PLC | &nbsp;&nbsp; 431814 | &nbsp;&nbsp;&nbsp; 1128272<br>|
| &nbsp;&nbsp;&nbsp; National Grid PLC | &nbsp;&nbsp; 205203 | &nbsp;&nbsp;&nbsp; 3466347<br>|
| *Total Multi-Utilities* | *Total Multi-Utilities* | &nbsp;&nbsp; *4594619* |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **9114968** |
| **Total Investments before Short-Term Investments (Cost — $224,382,887)** | **Total Investments before Short-Term Investments (Cost — $224,382,887)** | &nbsp;&nbsp; **283882977** |

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG International Equity ETF 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Putnam PanAgora ESG International Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| Security | Rate | Shares | Value |
| **Short-Term Investments — 0.2%** | **Short-Term Investments — 0.2%** | **Short-Term Investments — 0.2%** | **Short-Term Investments — 0.2%** |
| &nbsp;&nbsp;&nbsp; Putnam Government Money Market Fund, Class P Shares (Cost — $690,206)  | &nbsp;&nbsp; 3.430% | &nbsp;&nbsp; 690206<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$690206**<br> <sup>(b)(c)</sup><br>|
| **Total Investments — 99.7% (Cost — $225,073,093)** | **Total Investments — 99.7% (Cost — $225,073,093)** | **Total Investments — 99.7% (Cost — $225,073,093)** | &nbsp;&nbsp; **284573183** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.3% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.3% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.3% | &nbsp;&nbsp;&nbsp; 822892 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$285396075** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security.

<sup>(a)</sup> Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees. 

<sup>(b)</sup> Rate shown is one-day yield as of the end of the reporting period. 

<sup>(c)</sup> In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At January 31, 2026, the total market value of investments in Affiliated Companies was $690,206 and the cost was $690,206 (Note 2). 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| ADR |  | American Depositary Receipts |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG International Equity ETF 2026 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization and significant accounting policies** 

Putnam PanAgora ESG International Equity ETF (the "Fund") is a separate diversified investment series of Putnam ETF Trust (the "Trust"). The Trust, a Delaware statutory trust, is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company.

The Fund is an actively managed exchange-traded fund ("ETF"). ETFs are funds that trade like other publicly-traded securities. Unlike shares of a mutual fund, which can be bought from and redeemed by the issuing fund by all shareholders at a price based on net asset value ("NAV"), shares of the Fund may be directly purchased from and redeemed by the Fund at NAV solely by certain large institutional investors who have entered into agreements with the Fund's distributor ("Authorized Participants"). Also unlike shares of a mutual fund, shares of the Fund are listed on a national securities exchange and trade in the secondary market at market prices that change throughout the day.

Shares of the Fund are listed and traded at market prices on NYSE Arca, Inc. The market price for the Fund's shares may be different from the Fund's NAV. The Fund issues and redeems shares at NAV only in blocks of a specified number of shares or multiples thereof ("Creation Units"). Only Authorized Participants may purchase or redeem Creation Units directly with the Fund at NAV. Creation Units are created and redeemed principally in-kind (although under some circumstances its shares are created and redeemed partially for cash). Except when aggregated in Creation Units, shares of the Fund are not redeemable securities. Shareholders who are not Authorized Participants may not redeem shares directly from the Fund at NAV.

The Fund seeks long-term capital appreciation.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

**(a) Investment valuation.** Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will use the currency exchange rates, generally determined as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Trustees (the "Board").

Pursuant to policies adopted by the Board, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from

------

Putnam PanAgora ESG International Equity ETF 2026 Quarterly Report

------

Notes to Schedule of Investments (unaudited) (cont'd)

market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

• Level 1 — unadjusted quoted prices in active markets for identical investments

• Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 — significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund's assets carried at fair value: <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Common Stocks† | &nbsp;&nbsp; $283882977 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $283882977 |
| Short-Term Investments† | &nbsp;&nbsp; 690206 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 690206 |
| **Total Investments** | &nbsp;&nbsp; **$284573183** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$284573183** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

† See Schedule of Investments for additional detailed categorizations.

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended January 31, 2026. The following transactions were effected in such company for the period ended January 31, 2026. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>April 30, <br>2025 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>April 30, <br>2025 | Cost | Shares | Proceeds | Shares |
| Putnam Government <br> Money Market Fund, <br> Class P Shares<br>| $2499018 | $50701714 | 50701714 | $52510526 | 52510526 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>January 31, <br>2026<br>|
| Putnam Government Money <br> Market Fund, Class P Shares<br>|  | $10673 |  | $690206 |

---

------

Putnam PanAgora ESG International Equity ETF 2026 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

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

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

- **a. Name of Series:** Putnam PanAgora ESG International Equity ETF

- **b. EDGAR series identifier (if any):** S000077301

- **c. LEI of Series:** 549300JZREZTV1HA5N68

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

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

- **b. Date as of which information is reported:** 2026-01-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $285512977.03

**Total Liabilities:** $117020.61

**Net Assets:** $285395956.42

**Cash Not Reported:** $52558.67

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237598 | 0.18%                | 2.77%                | 3.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2041182.40              | $-1976971.10                               |
| Month 2  | $3149589.45              | $4252935.55                                |
| Month 3  | $1853143.64              | $8048899.09                                |

### Schedule of Portfolio Investments

| Name                                | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Orkla ASA                           | Orkla ASA                                    | CUSIP: 000000000<br>LEI: 549300PZS8G8RG6RVZ52 | Long             | EC               | CORP              | NO        |     61382 | NS      | $727877.51    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujitsu Ltd                         | Fujitsu Ltd                                  | CUSIP: 000000000<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |     51900 | NS      | $1436338.20   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa SA                           | Endesa SA                                    | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |     23110 | NS      | $851661.68    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| International Consolidated Air      | International Consolidated Airlines Group SA | CUSIP: 000000000<br>LEI: 959800TZHQRUSH1ESL13 | Long             | EC               | CORP              | GB        |    155276 | NS      | $888557.76    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Smiths Group PLC                    | Smiths Group PLC                             | CUSIP: 000000000<br>LEI: 213800MJL6IPZS3ASA11 | Long             | EC               | CORP              | GB        |     38344 | NS      | $1316947.43   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| EssilorLuxottica SA                 | EssilorLuxottica SA                          | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |      5971 | NS      | $1825344.55   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM International NV                | ASM International NV                         | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |      1345 | NS      | $1131630.70   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                              | AXA SA                                       | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |     31646 | NS      | $1441569.71   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE               | Schneider Electric SE                        | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |      3924 | NS      | $1127012.81   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| EDP SA                              | EDP SA                                       | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | EC               | CORP              | PT        |    251273 | NS      | $1285802.64   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX Corp                           | ORIX Corp                                    | CUSIP: 000000000<br>LEI: 35380016EMHNBOVYE123 | Long             | EC               | CORP              | JP        |     55600 | NS      | $1686394.42   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co Ltd               | Daiichi Sankyo Co Ltd                        | CUSIP: 000000000<br>LEI: 353800XGIU2IHQGC9504 | Long             | EC               | CORP              | JP        |     58500 | NS      | $1072021.19   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Trust Group In      | Sumitomo Mitsui Trust Group Inc              | CUSIP: 000000000<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |     72500 | NS      | $2397615.66   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| NEC Corp                            | NEC Corp                                     | CUSIP: 000000000<br>LEI: 5493000QYMPFRTEY4K28 | Long             | EC               | CORP              | JP        |    149700 | NS      | $5039654.95   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayer AG                            | Bayer AG                                     | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | EC               | CORP              | DE        |     23173 | NS      | $1223978.77   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Sage Group PLC/The                  | Sage Group PLC/The                           | CUSIP: 000000000<br>LEI: 2138005RN5XYLTF8G138 | Long             | EC               | CORP              | GB        |     80222 | NS      | $1050955.22   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Capcom Co Ltd                       | Capcom Co Ltd                                | CUSIP: 000000000<br>LEI: 529900JJWQKXS3TC8744 | Long             | EC               | CORP              | JP        |     29600 | NS      | $752814.68    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG              | Mercedes-Benz Group AG                       | CUSIP: 000000000<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |     13238 | NS      | $906820.88    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| South32 Ltd                         | South32 Ltd                                  | CUSIP: 000000000<br>LEI: 213800LAZNPXSBKVHR17 | Long             | EC               | CORP              | AU        |    591513 | NS      | $1902978.96   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV       | Koninklijke Ahold Delhaize NV                | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     41556 | NS      | $1623556.40   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                     | ASML Holding NV                              | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      8278 | NS      | $11779594.00  | 4.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Corp                     | Mitsubishi Corp                              | CUSIP: 000000000<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |     76600 | NS      | $2027850.87   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Marubeni Corp                       | Marubeni Corp                                | CUSIP: 000000000<br>LEI: 4P4N3ORD02UGQT1T1W12 | Long             | EC               | CORP              | JP        |     34600 | NS      | $1143570.69   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI Corp                           | KDDI Corp                                    | CUSIP: 000000000<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |    180200 | NS      | $3034965.75   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FANUC Corp                          | FANUC Corp                                   | CUSIP: 000000000<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |    165700 | NS      | $6712156.24   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil SA       | Industria de Diseno Textil SA                | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |     22831 | NS      | $1488449.36   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp        | Wheaton Precious Metals Corp                 | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |      3178 | NS      | $419082.86    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                             | CRH PLC                                      | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |      6334 | NS      | $775344.94    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolters Kluwer NV                   | Wolters Kluwer NV                            | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |      9411 | NS      | $879932.01    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| UPM-Kymmene Oyj                     | UPM-Kymmene Oyj                              | CUSIP: 000000000<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |     34151 | NS      | $946037.99    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Genmab A/S                          | Genmab A/S                                   | CUSIP: 372303206<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |     23904 | NS      | $779987.52    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortum Oyj                          | Fortum Oyj                                   | CUSIP: 000000000<br>LEI: 635400IUIZZIUJSAMF76 | Long             | EC               | CORP              | FI        |    100943 | NS      | $2382884.32   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group      | Mitsubishi UFJ Financial Group Inc           | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    205200 | NS      | $3718553.89   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Star Resources Ltd         | Northern Star Resources Ltd                  | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |    148092 | NS      | $2984405.57   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                       | Rio Tinto PLC                                | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     19923 | NS      | $1813590.69   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                           | Shell PLC                                    | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    151036 | NS      | $5774364.28   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sompo Holdings Inc                  | Sompo Holdings Inc                           | CUSIP: 000000000<br>LEI: 353800CWW4SRGEYEB512 | Long             | EC               | CORP              | JP        |     44700 | NS      | $1535443.27   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                      | Lonza Group AG                               | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |      4078 | NS      | $2769484.51   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Danske Bank A/S                     | Danske Bank A/S                              | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EC               | CORP              | DK        |     34189 | NS      | $1744627.44   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| GEA Group AG                        | GEA Group AG                                 | CUSIP: 000000000<br>LEI: 549300PHUU0ZZWO8EO07 | Long             | EC               | CORP              | DE        |     12377 | NS      | $886132.71    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Zalando SE                          | Zalando SE                                   | CUSIP: 000000000<br>LEI: 529900YRFFGH5AXU4S86 | Long             | EC               | CORP              | DE        |     28793 | NS      | $830718.59    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Sampo Oyj                           | Sampo Oyj                                    | CUSIP: 000000000<br>LEI: 743700UF3RL386WIDA22 | Long             | EC               | CORP              | FI        |    121399 | NS      | $1352662.35   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Mowi ASA                            | Mowi ASA                                     | CUSIP: 000000000<br>LEI: 549300W1OGQF5LZIH349 | Long             | EC               | CORP              | NO        |     99280 | NS      | $2282393.65   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrica PLC                        | Centrica PLC                                 | CUSIP: 000000000<br>LEI: E26EDV109X6EEPBKVH76 | Long             | EC               | CORP              | GB        |    431814 | NS      | $1128271.66   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Government Money Market Fund | Putnam Government Money Market Fund          | CUSIP: 74680A869<br>LEI: 549300SEUI2XMME8T893 | Long             | STIV             | RF                | US        |    690206 | NS      | $690205.80    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Getlink SE                          | Getlink SE                                   | CUSIP: 000000000<br>LEI: 9695007ZEQ7M0OE74G82 | Long             | EC               | CORP              | FR        |     37989 | NS      | $752455.38    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| QBE Insurance Group Ltd             | QBE Insurance Group Ltd                      | CUSIP: 000000000<br>LEI: 549300D2FBW76FPUSG65 | Long             | EC               | CORP              | AU        |    165417 | NS      | $2273814.36   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Stantec Inc                         | Stantec Inc                                  | CUSIP: 85472N109<br>LEI: 549300MZ7NGUZDCP2T16 | Long             | EC               | CORP              | CA        |      6239 | NS      | $618287.12    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Denso Corp                          | Denso Corp                                   | CUSIP: 000000000<br>LEI: 549300RYPA10CQM3QK38 | Long             | EC               | CORP              | JP        |     66300 | NS      | $918072.50    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group PLC         | Reckitt Benckiser Group PLC                  | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |     19760 | NS      | $1647191.67   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingfisher PLC                      | Kingfisher PLC                               | CUSIP: 000000000<br>LEI: 213800KBMEV7I92FY281 | Long             | EC               | CORP              | GB        |    200044 | NS      | $923839.67    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Boliden AB                          | Boliden AB                                   | CUSIP: 000000000<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |     34341 | NS      | $2415725.02   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Integrated Commerci      | CapitaLand Integrated Commercial Trust       | CUSIP: 000000000<br>LEI: 54930031292WUTXF0L29 | Long             | EC               | CORP              | SG        |    505008 | NS      | $948800.50    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                  | AerCap Holdings NV                           | CUSIP: 000000000<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | IE        |     10189 | NS      | $1463751.74   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Galderma Group AG                   | Galderma Group AG                            | CUSIP: 000000000<br>LEI: 89450001OK6O8ELQ4584 | Long             | EC               | CORP              | CH        |      6388 | NS      | $1189099.28   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp                           | Hoya Corp                                    | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |      8600 | NS      | $1437593.69   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitt      | LVMH Moet Hennessy Louis Vuitton SE          | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      2909 | NS      | $1885810.65   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Bank Co Ltd              | Japan Post Bank Co Ltd                       | CUSIP: 000000000<br>LEI: 5493006JVO6N2HC2XZ76 | Long             | EC               | CORP              | JP        |     66800 | NS      | $1182682.86   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                           | Prosus NV                                    | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |     33496 | NS      | $1923880.03   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                           | Holcim AG                                    | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |     17375 | NS      | $1787733.65   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ipsen SA                            | Ipsen SA                                     | CUSIP: 000000000<br>LEI: 549300M6SGDPB4Z94P11 | Long             | EC               | CORP              | FR        |      5428 | NS      | $885329.05    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Grou      | Sumitomo Mitsui Financial Group Inc          | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |     58000 | NS      | $2050762.47   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryanair Holdings PLC                | Ryanair Holdings PLC                         | CUSIP: 000000000<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |     40621 | NS      | $1377573.91   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Klepierre SA                        | Klepierre SA                                 | CUSIP: 000000000<br>LEI: 969500PB4U31KEFHZ621 | Long             | EC               | CORP              | FR        |     17602 | NS      | $676845.12    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange Ltd              | Singapore Exchange Ltd                       | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | Long             | EC               | CORP              | SG        |     99600 | NS      | $1380353.75   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Capgemini SE                        | Capgemini SE                                 | CUSIP: 000000000<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |     17916 | NS      | $2786258.01   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| adidas AG                           | adidas AG                                    | CUSIP: 000000000<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |      5464 | NS      | $966007.26    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                             | Sea Ltd                                      | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | SG        |      8854 | NS      | $1031402.46   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                     | Sony Group Corp                              | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    359300 | NS      | $8019011.37   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Eiffage SA                          | Eiffage SA                                   | CUSIP: 000000000<br>LEI: 969500OQXKE5WDM9M994 | Long             | EC               | CORP              | FR        |     13343 | NS      | $1976224.08   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale SA                 | Societe Generale SA                          | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |     28439 | NS      | $2487809.51   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandvik AB                          | Sandvik AB                                   | CUSIP: 000000000<br>LEI: 5299008ZUAXN43LVZF54 | Long             | EC               | CORP              | SE        |     76471 | NS      | $3019348.94   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryohin Keikaku Co Ltd               | Ryohin Keikaku Co Ltd                        | CUSIP: 000000000<br>LEI: 549300PMNF56J66BY371 | Long             | EC               | CORP              | JP        |     40900 | NS      | $814247.22    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Norsk Hydro ASA                     | Norsk Hydro ASA                              | CUSIP: 000000000<br>LEI: 549300N1SDN71ZZ8BO45 | Long             | EC               | CORP              | NO        |    151439 | NS      | $1357376.51   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                            | Vinci SA                                     | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |     50518 | NS      | $7254642.36   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ASR Nederland NV                    | ASR Nederland NV                             | CUSIP: 000000000<br>LEI: 7245000G0HS48PZWUD53 | Long             | EC               | CORP              | NL        |     15616 | NS      | $1132467.41   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                           | Danone SA                                    | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |     40969 | NS      | $3197360.65   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp                    | Bridgestone Corp                             | CUSIP: 000000000<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |     41000 | NS      | $923268.29    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Aegon Ltd                           | Aegon Ltd                                    | CUSIP: 000000000<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | EC               | CORP              | NL        |    129496 | NS      | $1009710.02   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Nephew PLC                  | Smith & Nephew PLC                           | CUSIP: 000000000<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |     42657 | NS      | $724951.92    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                           | Sanofi SA                                    | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     25397 | NS      | $2384262.35   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                       | BHP Group Ltd                                | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |    118186 | NS      | $4161852.70   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                          | Siemens AG                                   | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     17411 | NS      | $5289550.43   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CIBC                                | Canadian Imperial Bank of Commerce           | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |      9754 | NS      | $901438.23    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                    | TotalEnergies SE                             | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     15417 | NS      | $1117487.76   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MatsukiyoCocokara & Co              | MatsukiyoCocokara & Co                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     55600 | NS      | $890261.05    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke KPN NV                  | Koninklijke KPN NV                           | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |    274628 | NS      | $1337277.96   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| LY Corp                             | LY Corp                                      | CUSIP: 000000000<br>LEI: 52990078MD2OL792YM35 | Long             | EC               | CORP              | JP        |    247800 | NS      | $635031.53    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                        | Barclays PLC                                 | CUSIP: 06738E204<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |    222019 | NS      | $5939008.25   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group PLC                        | 3i Group PLC                                 | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |    140129 | NS      | $6425393.83   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group NV                         | NN Group NV                                  | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | EC               | CORP              | NL        |     25884 | NS      | $2048916.44   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviva PLC                           | Aviva PLC                                    | CUSIP: 000000000<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |    132915 | NS      | $1156356.70   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd              | DBS Group Holdings Ltd                       | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |     50100 | NS      | $2331514.82   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Telstra Group Ltd                   | Telstra Group Ltd                            | CUSIP: 000000000<br>LEI: 894500WRW54CVN62K416 | Long             | EC               | CORP              | AU        |    553754 | NS      | $1881760.79   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie de Saint-Gobain SA              | Cie de Saint-Gobain SA                       | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |     39835 | NS      | $3929515.20   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Scentre Group                       | Scentre Group                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    357828 | NS      | $1016628.31   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                          | Allianz SE                                   | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      1912 | NS      | $842643.19    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd                         | Hitachi Ltd                                  | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |     51500 | NS      | $1783997.80   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Convatec Group PLC                  | Convatec Group PLC                           | CUSIP: 000000000<br>LEI: 213800LS272L4FIDOH92 | Long             | EC               | CORP              | GB        |    170325 | NS      | $536047.82    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedish Orphan Biovitrum AB         | Swedish Orphan Biovitrum AB                  | CUSIP: 000000000<br>LEI: 549300124Y3MQI87PT35 | Long             | EC               | CORP              | SE        |     23942 | NS      | $905804.55    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui & Co Ltd                     | Mitsui & Co Ltd                              | CUSIP: 000000000<br>LEI: 2NRSB4GOU9DD6CNW5R48 | Long             | EC               | CORP              | JP        |    122400 | NS      | $3982191.78   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Panasonic Holdings Corp             | Panasonic Holdings Corp                      | CUSIP: 000000000<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |     87400 | NS      | $1195566.04   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp                         | ITOCHU Corp                                  | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |    513600 | NS      | $6541132.08   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Experian PLC                        | Experian PLC                                 | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | IE        |     17878 | NS      | $674699.67    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Scout24 SE                          | Scout24 SE                                   | CUSIP: 000000000<br>LEI: 5493007EIKM2ENQS7U66 | Long             | EC               | CORP              | DE        |      6116 | NS      | $609328.70    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd        | Takeda Pharmaceutical Co Ltd                 | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |     47200 | NS      | $1598749.03   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Murata Manufacturing Co Ltd         | Murata Manufacturing Co Ltd                  | CUSIP: 000000000<br>LEI: 529900QZG6DL8ZRI7140 | Long             | EC               | CORP              | JP        |     67700 | NS      | $1371848.02   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Michelin                            | Cie Generale des Etablissements Michelin SCA | CUSIP: 000000000<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |     44200 | NS      | $1642503.32   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| HKEX                                | Hong Kong Exchanges & Clearing Ltd           | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |     33100 | NS      | $1831238.72   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Skandinaviska Enskilda Banken       | Skandinaviska Enskilda Banken AB             | CUSIP: 000000000<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | EC               | CORP              | SE        |     82733 | NS      | $1777261.81   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                      | BNP Paribas SA                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |     19413 | NS      | $2098620.61   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Informa PLC                         | Informa PLC                                  | CUSIP: 000000000<br>LEI: 5493006VM2LKUPSEDU20 | Long             | EC               | CORP              | GB        |    167257 | NS      | $2014022.31   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Amadeus IT Group SA                 | Amadeus IT Group SA                          | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |     16747 | NS      | $1123966.39   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                   | National Grid PLC                            | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |    205203 | NS      | $3466347.53   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Brambles Ltd                        | Brambles Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    166579 | NS      | $2598340.04   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                | Royal Bank of Canada                         | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |      5210 | NS      | $867485.18    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Oyj                           | Nokia Oyj                                    | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |    269592 | NS      | $1733476.56   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                         | Novartis AG                                  | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     65795 | NS      | $9755414.14   | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                        | ING Groep NV                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |    104017 | NS      | $3060219.24   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Re AG                         | Swiss Re AG                                  | CUSIP: 000000000<br>LEI: 529900PS9YW3YY29F326 | Long             | EC               | CORP              | CH        |     14469 | NS      | $2310585.41   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Renesas Electronics Corp            | Renesas Electronics Corp                     | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |     77900 | NS      | $1296655.47   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo SpA                 | Intesa Sanpaolo SpA                          | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |   1304381 | NS      | $9224315.61   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesco PLC                           | Tesco PLC                                    | CUSIP: 000000000<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |   1241080 | NS      | $7220883.43   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEOS Holdings Inc                  | ENEOS Holdings Inc                           | CUSIP: 000000000<br>LEI: 3538001KQ5SAOZSQTT44 | Long             | EC               | CORP              | JP        |    123600 | NS      | $1037054.79   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                    | Deutsche Bank AG                             | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EC               | CORP              | DE        |     39603 | NS      | $1563215.17   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                       | UniCredit SpA                                | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |     43217 | NS      | $3762641.63   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                  | Banco Santander SA                           | CUSIP: 000000000<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |     46083 | NS      | $588851.72    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Henkel AG & Co KGaA                 | Henkel AG & Co KGaA                          | CUSIP: 000000000<br>LEI: 549300VZCL1HTH4O4Y49 | Long             | EC               | CORP              | DE        |     12776 | NS      | $1054781.40   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Talanx AG                           | Talanx AG                                    | CUSIP: 000000000<br>LEI: 5299006ZIILJ6VJVSJ32 | Long             | EC               | CORP              | DE        |      5025 | NS      | $634354.63    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                            | Alcon AG                                     | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |     43185 | NS      | $3486977.17   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Legrand SA                          | Legrand SA                                   | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |      9535 | NS      | $1525811.58   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Aristocrat Leisure Ltd              | Aristocrat Leisure Ltd                       | CUSIP: 000000000<br>LEI: 529900TE2HO3OZKYKC27 | Long             | EC               | CORP              | AU        |     16549 | NS      | $617220.07    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius SE & Co KGaA              | Fresenius SE & Co KGaA                       | CUSIP: 000000000<br>LEI: XDFJ0CYCOO1FXRFTQS51 | Long             | EC               | CORP              | DE        |     49727 | NS      | $2782740.45   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-30

**Name of Applicant:** Putnam ETF Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer Controller, US Fund Administration and Oversight