# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000940400-26-003044
**Filing Date:** 2026-2
**Character Count:** 106401
**Document Hash:** deb03e0d229b92a3061c91428de98036
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-003044.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0000940400-26-003044

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**EFFECTIVENESS DATE**: 20260212

**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:** 26623248

**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

### Franklin New York Municipal Income ETF (Series ID: S000094553)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000263086 | Franklin New York Municipal Income ETF |  |

### Franklin Short-Term Municipal Income ETF (Series ID: S000094554)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000263087 | Franklin Short-Term Municipal Income ETF |  |

## Internal

Converted from PDF Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Putnam ETF Trust and Shareholders of Franklin Short-Term Municipal Income ETF:<br>In planning and performing our audit of the financial statements of Franklin Short-Term Municipal Income ETF (one of the funds constituting Putnam ETF Trust, referred to hereafter as the "Fund") as of and for the year ended November 30, 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 November 30, 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> January 23, 2026<br>

## Internal

Converted from PDF Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Putnam ETF Trust and Shareholders of Franklin New York Municipal Income ETF:<br>In planning and performing our audit of the financial statements of Franklin New York Municipal Income ETF (one of the funds constituting Putnam ETF Trust, referred to hereafter as the "Fund") as of and for the year ended November 30, 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 November 30, 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> January 23, 2026<br>

# 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:** S000094553

**Series ID Record:2**
- **Series ID:** S000094554

**Class ID Record:1**
- **Class ID:** C000263086

**Class ID Record:2**
- **Class ID:** C000263087

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

**Item A.1.a - Report for period ending:** 2025-11-30

**Item A.1.b - Does this report cover a period of less than 12 months?:** Yes

## 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):** 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: 4**

- **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: 5**

- **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: 6**

- **a. Name of person (e.g., a custodian of records):** FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITED

- **b. Street 1:** CANNON PLACE, 78 CANNON STREET

- **c. City:** LONDON

- **f. Zip code and zip code extension, or foreign postal code:** EC4N 6HL

- **g. Telephone number:** 442070738500

- **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):** 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: 8**

- **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:** 22

- **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?** No

- **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 - Franklin New York Municipal Income ETF

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

- **a. Full Name of the Fund:** Franklin New York Municipal Income ETF

- **b. Series identification number, if any:** S000094553

- **c. LEI:** 254900GBYQZFZQ343281

- **d. Is this the first filing on this form by the Fund?:** Yes

**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 | Franklin New York Municipal Income ETF | C000263086                                | FTNY                         |

**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 (17 CFR 270.18f-4)

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

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

**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:** Franklin Advisers, Inc.

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

- **iii. CRD number:** 000104517

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

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

- **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:** Putnam Investment Management LLC

- **ii. SEC file number:** 801-07974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** TW7V46VWZTCTIG3JPY88

- **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

- **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

- **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:** 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: 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:** 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

- **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))

- **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:** JP 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:** $1,243.91

**Aggregate Commission:** $1,243.91

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

| Name                                  | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| RBC CAPITAL MARKETS, LLC              | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $82,647,378.19            |
| NOMURA SECURITIES INTERNATIONAL, INC. | 008-15255         |    000004297 | OXTKY6Q8X53C9ILVV871 | NY      | US        | $44,371,977.25            |
| JEFFERIES LLC                         | 008-15074         |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $53,945,381.13            |
| WELLS FARGO SECURITIES, LLC           | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $74,645,416.92            |
| RAYMOND JAMES & ASSOCIATES, INC.      | 008-10999         |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $18,179,730.30            |
| J.P. Morgan Securities LLC            | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $110,003,139.32           |
| BOFA SECURITIES, INC.                 | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $63,063,854.75            |
| Goldman Sachs & Co. LLC               | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $39,498,278.80            |
| MORGAN STANLEY & CO. LLC              | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $34,555,152.65            |
| PIPER SANDLER & CO.                   | 008-15204         |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $25,670,328.55            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $637,746,283.38

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $708,798,244.44

**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:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 2 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 3 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 4 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 5 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

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

  - **Line Institutions Record: 7 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 8 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 9 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 10 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 11 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 12 Name of institution:** JPMORGAN CHASE BANK, N.A.

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

  - **Line Institutions Record: 14 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 15 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 16 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 18 Name of institution:** HSBC BANK USA, N.A.

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

- **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 - Franklin Short-Term Municipal Income ETF

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

- **a. Full Name of the Fund:** Franklin Short-Term Municipal Income ETF

- **b. Series identification number, if any:** S000094554

- **c. LEI:** 254900AZCU6YVDGDES57

- **d. Is this the first filing on this form by the Fund?:** Yes

**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 | Franklin Short-Term Municipal Income ETF | C000263087                                | FTMS                         |

**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(d)(ii) (17 CFR 270.18f-4(d)(ii))

- Rule 18f-4 (17 CFR 270.18f-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:** Franklin Advisers, Inc.

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

- **iii. CRD number:** 000104517

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

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

- **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:** Putnam Investment Management LLC

- **ii. SEC file number:** 801-07974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** TW7V46VWZTCTIG3JPY88

- **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

- **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

- **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:** 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: 2**

- **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: 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:** 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.**

No Brokers reported.

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

| Name                                  | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| GOLDMAN SACHS & CO. LLC               | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $7,321,987.50             |
| MORGAN STANLEY & CO. LLC              | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $13,702,902.50            |
| WELLS FARGO SECURITIES, LLC           | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $16,235,600.90            |
| RAYMOND JAMES & ASSOCIATES, INC.      | 008-10999         |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $8,248,057.70             |
| NOMURA SECURITIES INTERNATIONAL, INC. | 008-15255         |    000004297 | OXTKY6Q8X53C9ILVV871 | NY      | US        | $9,993,134.73             |
| BOFA SECURITIES, INC.                 | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $27,294,402.80            |
| KEYBANC CAPITAL MARKETS, INC.         | 008-30177         |    000000566 | 2EQWV0180Z211YVAD813 | OH      | US        | $6,769,875.60             |
| BARCLAYS CAPITAL, INC.                | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $16,676,291.40            |
| J.P. Morgan Securities LLC            | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $7,202,476.10             |
| RBC CAPITAL MARKETS, LLC              | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $21,742,860.60            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $187,484,022.13

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $166,875,132.58

**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:** HSBC BANK USA, N.A.

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

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** CITIBANK, N.A.

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

  - **Line Institutions Record: 7 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 8 Name of institution:** THE BANK OF NEW YORK MELLON

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

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 11 Name of institution:** STANDARD CHARTERED BANK

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

  - **Line Institutions Record: 13 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 14 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 15 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 16 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 17 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 18 Name of institution:** ROYAL BANK OF CANADA

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

- **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

### Franklin New York Municipal Income ETF

**Item E.1 - Exchange**

- **Exchange:** ARCX

- **Ticker:** FTNY

**Item E.2 - Authorized Participants**

| Name                              | Purchase Value   | Redeem Value   |
|:---|:---|:---|
| Barclays Capital Inc.             | $0.00            | $0.00          |
| Virtu Americas LLC                | $0.00            | $0.00          |
| Citigroup Global Markets, Inc.    | $0.00            | $0.00          |
| Jefferies LLC                     | $0.00            | $0.00          |
| Mirae Asset Securities (USA) Inc. | $0.00            | $0.00          |
| Wells Fargo Securities, LLC       | $0.00            | $0.00          |
| UBS Securities LLC                | $0.00            | $0.00          |
| BNY Mellon Capital Markets, LLC   | $0.00            | $0.00          |
| BOFA SECURITIES, INC              | $0.00            | $0.00          |
| Jane Street Capital LLC           | $0.00            | $4,343,353.22  |
| Mizuho Securities USA LLC         | $0.00            | $0.00          |
| Macquarie Capital (USA) Inc.      | $0.00            | $0.00          |
| Morgan Stanley & Co. LLC          | $0.00            | $0.00          |
| Goldman Sachs & Co. LLC           | $394,098.65      | $790,059.64    |
| RBC Capital Markets, LLC          | $0.00            | $0.00          |
| Cantor Fitzgerald & Co.           | $0.00            | $0.00          |
| HSBC Securities (USA) Inc.        | $0.00            | $0.00          |
| J.P. Morgan Securities LLC        | $0.00            | $0.00          |
| ABN AMRO Clearing Chicago LLC     | $0.00            | $0.00          |

**Item E.3 - Creation Units**

- **a. Number of Fund shares required to form a creation unit:** 50,000.00

- **b.i. Average percentage of value composed of cash (purchased):** 100.00%

- **c.i. Average percentage of value composed of cash (redeemed):** 100.00%

- **d.i.2. Average transaction fee (dollars for one or more units, purchased):** $0.00

- **d.i.3. Average transaction fee (percentage of value, purchased):** 0.00%

- **Item E.5 - Is the Fund an 'In-Kind Exchange-Traded Fund'?** No

### Franklin Short-Term Municipal Income ETF

**Item E.1 - Exchange**

- **Exchange:** ARCX

- **Ticker:** FTMS

**Item E.2 - Authorized Participants**

| Name                              | Purchase Value   | Redeem Value   |
|:---|:---|:---|
| UBS Securities LLC                | $0.00            | $0.00          |
| Jane Street Capital LLC           | $0.00            | $2,985,309.52  |
| Mirae Asset Securities (USA) Inc. | $0.00            | $0.00          |
| RBC Capital Markets, LLC          | $994,322.34      | $0.00          |
| Cantor Fitzgerald & Co.           | $0.00            | $0.00          |
| Citigroup Global Markets, Inc.    | $0.00            | $0.00          |
| Mizuho Securities USA LLC         | $0.00            | $0.00          |
| Barclays Capital Inc.             | $0.00            | $0.00          |
| Virtu Americas LLC                | $6,461,002.15    | $0.00          |
| HSBC Securities (USA) Inc.        | $0.00            | $0.00          |
| Macquarie Capital (USA) Inc.      | $0.00            | $0.00          |
| Jefferies LLC                     | $0.00            | $0.00          |
| Wells Fargo Securities, LLC       | $0.00            | $0.00          |
| BNY Mellon Capital Markets, LLC   | $0.00            | $0.00          |
| Morgan Stanley & Co. LLC          | $0.00            | $0.00          |
| BOFA SECURITIES, INC              | $0.00            | $0.00          |
| J.P. Morgan Securities LLC        | $0.00            | $0.00          |
| Goldman Sachs & Co. LLC           | $497,079.22      | $0.00          |
| ABN AMRO Clearing Chicago LLC     | $0.00            | $0.00          |

**Item E.3 - Creation Units**

- **a. Number of Fund shares required to form a creation unit:** 50,000.00

- **b.i. Average percentage of value composed of cash (purchased):** 100.00%

- **c.i. Average percentage of value composed of cash (redeemed):** 100.00%

- **d.i.2. Average transaction fee (dollars for one or more units, purchased):** $100.00

- **d.i.3. Average transaction fee (percentage of value, purchased):** 0.00%

- **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:** 2026-02-12

**Signature:** Monica Krogh

**Title:** Assistant Treasuer