# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000940400-26-012040
**Filing Date:** 2026-3
**Character Count:** 78230
**Document Hash:** f3fba4d80771d0d0644b4dceb9aa09e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-012040.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0000940400-26-012040

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**PERIOD START**: 20260430

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23643
- **FILM NUMBER:** 26812316

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

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

## Series and Classes Contracts Data

### Putnam PanAgora ESG Emerging Markets Equity ETF (Series ID: S000077300)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000237597 | -            |  |

## Nport-Ex

Schedule of Investments (unaudited)

January 31, 2026

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

 **Putnam PanAgora ESG Emerging Markets Equity ETF**

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

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| **Common Stocks — 99.6%** | **Common Stocks — 99.6%** | **Common Stocks — 99.6%** |
| **Communication Services — 11.4%** | **Communication Services — 11.4%** | **Communication Services — 11.4%** |
| *Diversified Telecommunication Services — 1.7%* | *Diversified Telecommunication Services — 1.7%* | *Diversified Telecommunication Services — 1.7%* |
| &nbsp;&nbsp;&nbsp; Saudi Telecom Co. | &nbsp;&nbsp; 68617 | &nbsp;&nbsp;&nbsp; $812274<br>|
| &nbsp;&nbsp;&nbsp; Telekom Malaysia Bhd | &nbsp;&nbsp; 88700 | &nbsp;&nbsp;&nbsp; 177760<br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *990034* |
| *Entertainment — 1.8%* | *Entertainment — 1.8%* | *Entertainment — 1.8%* |
| &nbsp;&nbsp;&nbsp; 37 Interactive Entertainment Network Technology Group Co. Ltd., Class A Shares | &nbsp;&nbsp; 6600 | &nbsp;&nbsp;&nbsp; 25146<br>|
| &nbsp;&nbsp;&nbsp; NetEase Inc., ADR | &nbsp;&nbsp; 7396 | &nbsp;&nbsp;&nbsp; 952827<br>|
| &nbsp;&nbsp;&nbsp; Tencent Music Entertainment Group, ADR | &nbsp;&nbsp; 2591 | &nbsp;&nbsp;&nbsp; 43477<br>|
| *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *1021450* |
| *Interactive Media & Services — 4.8%* | *Interactive Media & Services — 4.8%* | *Interactive Media & Services — 4.8%* |
| &nbsp;&nbsp;&nbsp; Kakao Corp. | &nbsp;&nbsp; 6692 | &nbsp;&nbsp;&nbsp; 285458<br>|
| &nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. | &nbsp;&nbsp; 32588 | &nbsp;&nbsp;&nbsp; 2527916<br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *2813374* |
| *Wireless Telecommunication Services — 3.1%* | *Wireless Telecommunication Services — 3.1%* | *Wireless Telecommunication Services — 3.1%* |
| &nbsp;&nbsp;&nbsp; Advanced Info Service PCL, NVDR | &nbsp;&nbsp; 39500 | &nbsp;&nbsp;&nbsp; 438122<br>|
| &nbsp;&nbsp;&nbsp; America Movil SAB de CV | &nbsp;&nbsp; 418500 | &nbsp;&nbsp;&nbsp; 431288<br>|
| &nbsp;&nbsp;&nbsp; Etihad Etisalat Co. | &nbsp;&nbsp; 10698 | &nbsp;&nbsp;&nbsp; 200799<br>|
| &nbsp;&nbsp;&nbsp; Far EasTone Telecommunications Co. Ltd. | &nbsp;&nbsp; 116000 | &nbsp;&nbsp;&nbsp; 327321<br>|
| &nbsp;&nbsp;&nbsp; PLDT Inc. | &nbsp;&nbsp; 6225 | &nbsp;&nbsp;&nbsp; 141668<br>|
| &nbsp;&nbsp;&nbsp; TIM SA | &nbsp;&nbsp; 52800 | &nbsp;&nbsp;&nbsp; 246004<br>|
| *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | &nbsp;&nbsp; *1785202* |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **6610060** |
| **Consumer Discretionary — 10.6%** | **Consumer Discretionary — 10.6%** | **Consumer Discretionary — 10.6%** |
| *Automobiles — 1.8%* | *Automobiles — 1.8%* | *Automobiles — 1.8%* |
| &nbsp;&nbsp;&nbsp; Bajaj Auto Ltd. | &nbsp;&nbsp; 4477 | &nbsp;&nbsp;&nbsp; 467107<br>|
| &nbsp;&nbsp;&nbsp; Hero MotoCorp Ltd. | &nbsp;&nbsp; 10236 | &nbsp;&nbsp;&nbsp; 615801<br>|
| *Total Automobiles* | *Total Automobiles* | &nbsp;&nbsp; *1082908* |
| *Broadline Retail — 4.9%* | *Broadline Retail — 4.9%* | *Broadline Retail — 4.9%* |
| &nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd., ADR | &nbsp;&nbsp; 11113 | &nbsp;&nbsp;&nbsp; 1884320<br>|
| &nbsp;&nbsp;&nbsp; Falabella SA | &nbsp;&nbsp; 61847 | &nbsp;&nbsp;&nbsp; 480151<br>|
| &nbsp;&nbsp;&nbsp; Naspers Ltd., Class N Shares | &nbsp;&nbsp; 3928 | &nbsp;&nbsp;&nbsp; 241097<br>|
| &nbsp;&nbsp;&nbsp; Vipshop Holdings Ltd., ADR | &nbsp;&nbsp; 15666 | &nbsp;&nbsp;&nbsp; 268045<br>|
| *Total Broadline Retail* | *Total Broadline Retail* | &nbsp;&nbsp; *2873613* |
| *Distributors — 0.2%* | *Distributors — 0.2%* | *Distributors — 0.2%* |
| &nbsp;&nbsp;&nbsp; Zhejiang China Commodities City Group Co. Ltd., Class A Shares | &nbsp;&nbsp; 41000 | &nbsp;&nbsp;&nbsp; *94776*<br>|
| *Hotels, Restaurants & Leisure — 0.5%* | *Hotels, Restaurants & Leisure — 0.5%* | *Hotels, Restaurants & Leisure — 0.5%* |
| &nbsp;&nbsp;&nbsp; Meituan, Class B Shares | &nbsp;&nbsp; 24300 | &nbsp;&nbsp;&nbsp; *302,346*<br> \*<sup>(a)</sup><br>|
| *Household Durables — 1.7%* | *Household Durables — 1.7%* | *Household Durables — 1.7%* |
| &nbsp;&nbsp;&nbsp; Coway Co. Ltd. | &nbsp;&nbsp; 3359 | &nbsp;&nbsp;&nbsp; 194,623<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Gree Electric Appliances Inc. of Zhuhai, Class A Shares | &nbsp;&nbsp; 24800 | &nbsp;&nbsp;&nbsp; 137886<br>|
| &nbsp;&nbsp;&nbsp; LG Electronics Inc. | &nbsp;&nbsp; 9247 | &nbsp;&nbsp;&nbsp; 636639<br>|
| *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *969148* |
| *Specialty Retail — 1.5%* | *Specialty Retail — 1.5%* | *Specialty Retail — 1.5%* |
| &nbsp;&nbsp;&nbsp; Jarir Marketing Co. | &nbsp;&nbsp; 57276 | &nbsp;&nbsp;&nbsp; 217914<br>|
| &nbsp;&nbsp;&nbsp; Petronas Dagangan Bhd | &nbsp;&nbsp; 20800 | &nbsp;&nbsp;&nbsp; 111862<br>|

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG Emerging Markets Equity ETF 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Putnam PanAgora ESG Emerging Markets Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Specialty Retail — continued* | *Specialty Retail — continued* | *Specialty Retail — continued* |
| &nbsp;&nbsp;&nbsp; Vibra Energia SA | &nbsp;&nbsp; 98734 | &nbsp;&nbsp;&nbsp; $539565<br>|
| *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *869341* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **6192132** |
| **Consumer Staples — 1.5%** | **Consumer Staples — 1.5%** | **Consumer Staples — 1.5%** |
| *Consumer Staples Distribution & Retail — 0.3%* | *Consumer Staples Distribution & Retail — 0.3%* | *Consumer Staples Distribution & Retail — 0.3%* |
| &nbsp;&nbsp;&nbsp; 99 Speed Mart Retail Holdings Bhd | &nbsp;&nbsp; 84800 | &nbsp;&nbsp;&nbsp; 86048<br>|
| &nbsp;&nbsp;&nbsp; Yifeng Pharmacy Chain Co. Ltd., Class A Shares | &nbsp;&nbsp; 26200 | &nbsp;&nbsp;&nbsp; 89923<br>|
| *Total Consumer Staples Distribution & Retail* | *Total Consumer Staples Distribution & Retail* | &nbsp;&nbsp; *175971* |
| *Food Products — 1.2%* | *Food Products — 1.2%* | *Food Products — 1.2%* |
| &nbsp;&nbsp;&nbsp; Inner Mongolia Yili Industrial Group Co. Ltd., Class A Shares | &nbsp;&nbsp; 42396 | &nbsp;&nbsp;&nbsp; 160434<br>|
| &nbsp;&nbsp;&nbsp; Marico Ltd. | &nbsp;&nbsp; 45165 | &nbsp;&nbsp;&nbsp; 358325<br>|
| &nbsp;&nbsp;&nbsp; Want Want China Holdings Ltd. | &nbsp;&nbsp; 271000 | &nbsp;&nbsp;&nbsp; 163736<br>|
| *Total Food Products* | *Total Food Products* | &nbsp;&nbsp; *682495* |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **858466** |
| **Energy — 2.2%** | **Energy — 2.2%** | **Energy — 2.2%** |
| *Energy Equipment & Services — 0.8%* | *Energy Equipment & Services — 0.8%* | *Energy Equipment & Services — 0.8%* |
| &nbsp;&nbsp;&nbsp; Yantai Jereh Oilfield Services Group Co. Ltd., Class A Shares | &nbsp;&nbsp; 36805 | &nbsp;&nbsp;&nbsp; *466635*<br>|
| *Oil, Gas & Consumable Fuels — 1.4%* | *Oil, Gas & Consumable Fuels — 1.4%* | *Oil, Gas & Consumable Fuels — 1.4%* |
| &nbsp;&nbsp;&nbsp; Adnoc Gas PLC | &nbsp;&nbsp; 529816 | &nbsp;&nbsp;&nbsp; 520799<br>|
| &nbsp;&nbsp;&nbsp; Petronet LNG Ltd. | &nbsp;&nbsp; 34130 | &nbsp;&nbsp;&nbsp; 107506<br>|
| &nbsp;&nbsp;&nbsp; Reliance Industries Ltd. | &nbsp;&nbsp; 13059 | &nbsp;&nbsp;&nbsp; 198098<br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *826403* |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **1293038** |
| **Financials — 20.9%** | **Financials — 20.9%** | **Financials — 20.9%** |
| *Banks — 13.1%* | *Banks — 13.1%* | *Banks — 13.1%* |
| &nbsp;&nbsp;&nbsp; Banco Santander Chile | &nbsp;&nbsp; 2237568 | &nbsp;&nbsp;&nbsp; 196888<br>|
| &nbsp;&nbsp;&nbsp; Bank Central Asia Tbk PT | &nbsp;&nbsp; 1442000 | &nbsp;&nbsp;&nbsp; 635734<br>|
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., Class H Shares | &nbsp;&nbsp; 332000 | &nbsp;&nbsp;&nbsp; 336160<br>|
| &nbsp;&nbsp;&nbsp; China Minsheng Banking Corp. Ltd., Class A Shares | &nbsp;&nbsp; 758862 | &nbsp;&nbsp;&nbsp; 408837<br>|
| &nbsp;&nbsp;&nbsp; E.Sun Financial Holding Co. Ltd. | &nbsp;&nbsp; 754362 | &nbsp;&nbsp;&nbsp; 800626<br>|
| &nbsp;&nbsp;&nbsp; First Abu Dhabi Bank PJSC | &nbsp;&nbsp; 170747 | &nbsp;&nbsp;&nbsp; 864777<br>|
| &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte SAB de CV, Class O Shares | &nbsp;&nbsp; 88190 | &nbsp;&nbsp;&nbsp; 997007<br>|
| &nbsp;&nbsp;&nbsp; Hana Financial Group Inc. | &nbsp;&nbsp; 18560 | &nbsp;&nbsp;&nbsp; 1290716<br>|
| &nbsp;&nbsp;&nbsp; HDFC Bank Ltd. | &nbsp;&nbsp; 47095 | &nbsp;&nbsp;&nbsp; 475750<br>|
| &nbsp;&nbsp;&nbsp; ICICI Bank Ltd. | &nbsp;&nbsp; 13201 | &nbsp;&nbsp;&nbsp; 194454<br>|
| &nbsp;&nbsp;&nbsp; IDBI Bank Ltd. | &nbsp;&nbsp; 75623 | &nbsp;&nbsp;&nbsp; 81857<br>|
| &nbsp;&nbsp;&nbsp; KB Financial Group Inc. | &nbsp;&nbsp; 9660 | &nbsp;&nbsp;&nbsp; 907345<br>|
| &nbsp;&nbsp;&nbsp; Komercni Banka AS | &nbsp;&nbsp; 4326 | &nbsp;&nbsp;&nbsp; 262301<br>|
| &nbsp;&nbsp;&nbsp; Ping An Bank Co. Ltd., Class A Shares | &nbsp;&nbsp; 119574 | &nbsp;&nbsp;&nbsp; 186047<br>|
| *Total Banks* | *Total Banks* | &nbsp;&nbsp; *7638499* |
| *Capital Markets — 2.3%* | *Capital Markets — 2.3%* | *Capital Markets — 2.3%* |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp; 307300 | &nbsp;&nbsp;&nbsp; 943023<br>|
| &nbsp;&nbsp;&nbsp; Guosen Securities Co. Ltd., Class A Shares | &nbsp;&nbsp; 19700 | &nbsp;&nbsp;&nbsp; 35491<br>|
| &nbsp;&nbsp;&nbsp; Huatai Securities Co. Ltd., Class A Shares | &nbsp;&nbsp; 26300 | &nbsp;&nbsp;&nbsp; 86753<br>|
| &nbsp;&nbsp;&nbsp; Huatai Securities Co. Ltd., Class H Shares | &nbsp;&nbsp; 45400 | &nbsp;&nbsp;&nbsp; 108327<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Investec Ltd. | &nbsp;&nbsp; 8355 | &nbsp;&nbsp;&nbsp; 67988<br>|

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG Emerging Markets Equity ETF 2026 Quarterly Report

------

 **Putnam PanAgora ESG Emerging Markets Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* |
| &nbsp;&nbsp;&nbsp; Sinolink Securities Co. Ltd., Class A Shares | &nbsp;&nbsp; 59500 | &nbsp;&nbsp;&nbsp; $79669<br>|
| *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *1321251* |
| *Insurance — 5.5%* | *Insurance — 5.5%* | *Insurance — 5.5%* |
| &nbsp;&nbsp;&nbsp; Cathay Financial Holding Co. Ltd. | &nbsp;&nbsp; 386000 | &nbsp;&nbsp;&nbsp; 924830<br>|
| &nbsp;&nbsp;&nbsp; DB Insurance Co. Ltd. | &nbsp;&nbsp; 4180 | &nbsp;&nbsp;&nbsp; 414109<br>|
| &nbsp;&nbsp;&nbsp; General Insurance Corp. of India | &nbsp;&nbsp; 15670 | &nbsp;&nbsp;&nbsp; 64400<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; People's Insurance Co. Group of China Ltd., Class H Shares | &nbsp;&nbsp; 791000 | &nbsp;&nbsp;&nbsp; 688522<br>|
| &nbsp;&nbsp;&nbsp; PICC Property & Casualty Co. Ltd., Class H Shares | &nbsp;&nbsp; 104000 | &nbsp;&nbsp;&nbsp; 215532<br>|
| &nbsp;&nbsp;&nbsp; Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp; 44036 | &nbsp;&nbsp;&nbsp; 868574<br>|
| *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *3175967* |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **12135717** |
| **Health Care — 3.0%** | **Health Care — 3.0%** | **Health Care — 3.0%** |
| *Health Care Providers & Services — 0.9%* | *Health Care Providers & Services — 0.9%* | *Health Care Providers & Services — 0.9%* |
| &nbsp;&nbsp;&nbsp; Bangkok Dusit Medical Services PCL, NVDR | &nbsp;&nbsp; 473500 | &nbsp;&nbsp;&nbsp; 302474<br>|
| &nbsp;&nbsp;&nbsp; Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A Shares | &nbsp;&nbsp; 23400 | &nbsp;&nbsp;&nbsp; 84886<br>|
| &nbsp;&nbsp;&nbsp; Huadong Medicine Co. Ltd., Class A Shares | &nbsp;&nbsp; 21900 | &nbsp;&nbsp;&nbsp; 113487<br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *500847* |
| *Life Sciences Tools & Services — 1.5%* | *Life Sciences Tools & Services — 1.5%* | *Life Sciences Tools & Services — 1.5%* |
| &nbsp;&nbsp;&nbsp; WuXi AppTec Co. Ltd., Class H Shares | &nbsp;&nbsp; 42800 | &nbsp;&nbsp;&nbsp; 609229<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wuxi Biologics Cayman Inc. | &nbsp;&nbsp; 59500 | &nbsp;&nbsp;&nbsp; 281,806<br> \*<sup>(a)</sup><br>|
| *Total Life Sciences Tools & Services* | *Total Life Sciences Tools & Services* | &nbsp;&nbsp; *891035* |
| *Pharmaceuticals — 0.6%* | *Pharmaceuticals — 0.6%* | *Pharmaceuticals — 0.6%* |
| &nbsp;&nbsp;&nbsp; Abbott India Ltd. | &nbsp;&nbsp; 187 | &nbsp;&nbsp;&nbsp; 56036<br>|
| &nbsp;&nbsp;&nbsp; China Medical System Holdings Ltd. | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp; 134695<br>|
| &nbsp;&nbsp;&nbsp; Yunnan Baiyao Group Co. Ltd., Class A Shares | &nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp; 143808<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *334539* |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **1726421** |
| **Industrials — 4.8%** | **Industrials — 4.8%** | **Industrials — 4.8%** |
| *Aerospace & Defense — 1.9%* | *Aerospace & Defense — 1.9%* | *Aerospace & Defense — 1.9%* |
| &nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. | &nbsp;&nbsp; 225696 | &nbsp;&nbsp;&nbsp; *1101644*<br>|
| *Air Freight & Logistics — 0.2%* | *Air Freight & Logistics — 0.2%* | *Air Freight & Logistics — 0.2%* |
| &nbsp;&nbsp;&nbsp; Sinotrans Ltd., Class A Shares | &nbsp;&nbsp; 116400 | &nbsp;&nbsp;&nbsp; *100002*<br>|
| *Electrical Equipment — 0.2%* | *Electrical Equipment — 0.2%* | *Electrical Equipment — 0.2%* |
| &nbsp;&nbsp;&nbsp; Ningbo Sanxing Medical Electric Co. Ltd., Class A Shares | &nbsp;&nbsp; 6200 | &nbsp;&nbsp;&nbsp; 21048<br>|
| &nbsp;&nbsp;&nbsp; Zhejiang Chint Electrics Co. Ltd., Class A Shares | &nbsp;&nbsp; 24400 | &nbsp;&nbsp;&nbsp; 102465<br>|
| *Total Electrical Equipment* | *Total Electrical Equipment* | &nbsp;&nbsp; *123513* |
| *Machinery — 1.7%* | *Machinery — 1.7%* | *Machinery — 1.7%* |
| &nbsp;&nbsp;&nbsp; Doosan Bobcat Inc. | &nbsp;&nbsp; 5023 | &nbsp;&nbsp;&nbsp; 205191<br>|
| &nbsp;&nbsp;&nbsp; Sinotruk Hong Kong Ltd. | &nbsp;&nbsp; 51000 | &nbsp;&nbsp;&nbsp; 234498<br>|
| &nbsp;&nbsp;&nbsp; Weichai Power Co. Ltd., Class A Shares | &nbsp;&nbsp; 163734 | &nbsp;&nbsp;&nbsp; 558440<br>|
| *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *998129* |
| *Trading Companies & Distributors — 0.3%* | *Trading Companies & Distributors — 0.3%* | *Trading Companies & Distributors — 0.3%* |
| &nbsp;&nbsp;&nbsp; BOC Aviation Ltd. | &nbsp;&nbsp; 10300 | &nbsp;&nbsp;&nbsp; 106928<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Xiamen C & D Inc., Class A Shares | &nbsp;&nbsp; 69700 | &nbsp;&nbsp;&nbsp; 95529<br>|
| *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | &nbsp;&nbsp; *202457* |

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG Emerging Markets Equity ETF 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **Putnam PanAgora ESG Emerging Markets Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Transportation Infrastructure — 0.5%* | *Transportation Infrastructure — 0.5%* | *Transportation Infrastructure — 0.5%* |
| &nbsp;&nbsp;&nbsp; Motiva Infraestrutura de Mobilidade SA | &nbsp;&nbsp; 87300 | &nbsp;&nbsp;&nbsp; $*278020*<br>|
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **2803765** |
| **Information Technology — 35.2%** | **Information Technology — 35.2%** | **Information Technology — 35.2%** |
| *Electronic Equipment, Instruments & Components — 4.7%* | *Electronic Equipment, Instruments & Components — 4.7%* | *Electronic Equipment, Instruments & Components — 4.7%* |
| &nbsp;&nbsp;&nbsp; Delta Electronics Inc. | &nbsp;&nbsp; 47258 | &nbsp;&nbsp;&nbsp; 1832055<br>|
| &nbsp;&nbsp;&nbsp; Foxconn Industrial Internet Co. Ltd., Class A Shares | &nbsp;&nbsp; 67271 | &nbsp;&nbsp;&nbsp; 557648<br>|
| &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp; 29000 | &nbsp;&nbsp;&nbsp; 203194<br>|
| &nbsp;&nbsp;&nbsp; Shengyi Technology Co. Ltd., Class A Shares | &nbsp;&nbsp; 11400 | &nbsp;&nbsp;&nbsp; 112926<br>|
| *Total Electronic Equipment, Instruments & Components* | *Total Electronic Equipment, Instruments & Components* | &nbsp;&nbsp; *2705823* |
| *IT Services — 1.7%* | *IT Services — 1.7%* | *IT Services — 1.7%* |
| &nbsp;&nbsp;&nbsp; HCL Technologies Ltd. | &nbsp;&nbsp; 40374 | &nbsp;&nbsp;&nbsp; 744211<br>|
| &nbsp;&nbsp;&nbsp; Mphasis Ltd. | &nbsp;&nbsp; 5876 | &nbsp;&nbsp;&nbsp; 176240<br>|
| &nbsp;&nbsp;&nbsp; Tech Mahindra Ltd. | &nbsp;&nbsp; 4243 | &nbsp;&nbsp;&nbsp; 80402<br>|
| *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *1000853* |
| *Semiconductors & Semiconductor Equipment — 22.1%* | *Semiconductors & Semiconductor Equipment — 22.1%* | *Semiconductors & Semiconductor Equipment — 22.1%* |
| &nbsp;&nbsp;&nbsp; ASE Technology Holding Co. Ltd. | &nbsp;&nbsp; 22000 | &nbsp;&nbsp;&nbsp; 207626<br>|
| &nbsp;&nbsp;&nbsp; OmniVision Integrated Circuits Group Inc. | &nbsp;&nbsp; 8646 | &nbsp;&nbsp;&nbsp; 150548<br>|
| &nbsp;&nbsp;&nbsp; SK hynix Inc. | &nbsp;&nbsp; 6103 | &nbsp;&nbsp;&nbsp; 3854125<br>|
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 153440 | &nbsp;&nbsp;&nbsp; 8654464<br>|
| *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | &nbsp;&nbsp; *12866763* |
| *Technology Hardware, Storage & Peripherals — 6.7%* | *Technology Hardware, Storage & Peripherals — 6.7%* | *Technology Hardware, Storage & Peripherals — 6.7%* |
| &nbsp;&nbsp;&nbsp; Asustek Computer Inc. | &nbsp;&nbsp; 34394 | &nbsp;&nbsp;&nbsp; 542085<br>|
| &nbsp;&nbsp;&nbsp; GRG Banking Equipment Co. Ltd., Class A Shares | &nbsp;&nbsp; 12500 | &nbsp;&nbsp;&nbsp; 23148<br>|
| &nbsp;&nbsp;&nbsp; Lenovo Group Ltd. | &nbsp;&nbsp; 439065 | &nbsp;&nbsp;&nbsp; 499085<br>|
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 25588 | &nbsp;&nbsp;&nbsp; 2853185<br>|
| *Total Technology Hardware, Storage & Peripherals* | *Total Technology Hardware, Storage & Peripherals* | &nbsp;&nbsp; *3917503* |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **20490942** |
| **Materials — 5.6%** | **Materials — 5.6%** | **Materials — 5.6%** |
| *Chemicals — 0.8%* | *Chemicals — 0.8%* | *Chemicals — 0.8%* |
| &nbsp;&nbsp;&nbsp; Coromandel International Ltd. | &nbsp;&nbsp; 10675 | &nbsp;&nbsp;&nbsp; 264892<br>|
| &nbsp;&nbsp;&nbsp; Pidilite Industries Ltd. | &nbsp;&nbsp; 12910 | &nbsp;&nbsp;&nbsp; 200848<br>|
| *Total Chemicals* | *Total Chemicals* | &nbsp;&nbsp; *465740* |
| *Construction Materials — 0.4%* | *Construction Materials — 0.4%* | *Construction Materials — 0.4%* |
| &nbsp;&nbsp;&nbsp; China National Building Material Co. Ltd., Class H Shares | &nbsp;&nbsp; 372000 | &nbsp;&nbsp;&nbsp; *267615*<br>|
| *Metals & Mining — 4.4%* | *Metals & Mining — 4.4%* | *Metals & Mining — 4.4%* |
| &nbsp;&nbsp;&nbsp; CMOC Group Ltd., Class H Shares | &nbsp;&nbsp; 378000 | &nbsp;&nbsp;&nbsp; 1079986<br>|
| &nbsp;&nbsp;&nbsp; Gold Fields Ltd., ADR | &nbsp;&nbsp; 27152 | &nbsp;&nbsp;&nbsp; 1360858<br>|
| &nbsp;&nbsp;&nbsp; Shandong Nanshan Aluminum Co. Ltd., Class A Shares | &nbsp;&nbsp; 92900 | &nbsp;&nbsp;&nbsp; 97965<br>|
| *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *2538809* |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **3272164** |
| **Real Estate — 1.8%** | **Real Estate — 1.8%** | **Real Estate — 1.8%** |
| *Real Estate Management & Development — 1.8%* | *Real Estate Management & Development — 1.8%* | *Real Estate Management & Development — 1.8%* |
| &nbsp;&nbsp;&nbsp; Ayala Land Inc. | &nbsp;&nbsp; 653500 | &nbsp;&nbsp;&nbsp; 235849<br>|
| &nbsp;&nbsp;&nbsp; China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A Shares | &nbsp;&nbsp; 88500 | &nbsp;&nbsp;&nbsp; 134392<br>|
| &nbsp;&nbsp;&nbsp; China Resources Land Ltd. | &nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp; 679413<br>|
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **1049654** |

---

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG Emerging Markets Equity ETF 2026 Quarterly Report

------

 **Putnam PanAgora ESG Emerging Markets Equity ETF**

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| Security |  | Shares | Value |
| **Utilities — 2.6%** | **Utilities — 2.6%** | **Utilities — 2.6%** | **Utilities — 2.6%** |
| *Electric Utilities — 2.1%* | *Electric Utilities — 2.1%* | *Electric Utilities — 2.1%* | *Electric Utilities — 2.1%* |
| &nbsp;&nbsp;&nbsp; Cia Paranaense de Energia - Copel | &nbsp;&nbsp;&nbsp; Cia Paranaense de Energia - Copel | &nbsp;&nbsp; 63000 | &nbsp;&nbsp;&nbsp; $157777<br>|
| &nbsp;&nbsp;&nbsp; Power Grid Corp. of India Ltd. | &nbsp;&nbsp;&nbsp; Power Grid Corp. of India Ltd. | &nbsp;&nbsp; 378168 | &nbsp;&nbsp;&nbsp; 1054492<br>|
| *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *1212269* |
| *Gas Utilities — 0.5%* | *Gas Utilities — 0.5%* | *Gas Utilities — 0.5%* | *Gas Utilities — 0.5%* |
| &nbsp;&nbsp;&nbsp; China Resources Gas Group Ltd. | &nbsp;&nbsp;&nbsp; China Resources Gas Group Ltd. | &nbsp;&nbsp; 62600 | &nbsp;&nbsp;&nbsp; 172284<br>|
| &nbsp;&nbsp;&nbsp; ENN Natural Gas Co. Ltd., Class A Shares | &nbsp;&nbsp;&nbsp; ENN Natural Gas Co. Ltd., Class A Shares | &nbsp;&nbsp; 40700 | &nbsp;&nbsp;&nbsp; 114080<br>|
| *Total Gas Utilities* | *Total Gas Utilities* | *Total Gas Utilities* | &nbsp;&nbsp; *286364* |
| **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **1498633** |
| **Total Investments before Short-Term Investments (Cost — $40,339,189)** | **Total Investments before Short-Term Investments (Cost — $40,339,189)** | **Total Investments before Short-Term Investments (Cost — $40,339,189)** | &nbsp;&nbsp; **57930992** |
|  | Rate |  |  |
| **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** |
| &nbsp;&nbsp;&nbsp; Putnam Government Money Market Fund, Class P Shares (Cost — $209,888)  | &nbsp;&nbsp; 3.430% | &nbsp;&nbsp; 209888<br>| &nbsp;&nbsp;&nbsp;&nbsp; **209888**<br> <sup>(b)(c)</sup><br>|
| **Total Investments — 100.0% (Cost — $40,549,077)** | **Total Investments — 100.0% (Cost — $40,549,077)** | **Total Investments — 100.0% (Cost — $40,549,077)** | &nbsp;&nbsp; **58140880** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.0%†† | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.0%†† | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.0%†† | &nbsp;&nbsp;&nbsp; 5266 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$58146146** |

---

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

---

| | |
|:---|:---|
| †† | Represents less than 0.1%. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees.<br>|
| <sup>(b)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(c)</sup> | In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding <br> voting securities of an issuer, or a company which is under common ownership or control with the Fund. At January 31, 2026, the total market value of <br> investments in Affiliated Companies was $209,888 and the cost was $209,888 (Note 2).<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| ADR |  | American Depositary Receipts |
| NVDR |  | Non-Voting Depositary Receipt |
| PJSC |  | Private Joint Stock Company |

---

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

See Notes to Schedule of Investments.

------

Putnam PanAgora ESG Emerging Markets Equity ETF 2026 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

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

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

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

The Fund seeks long-term capital appreciation.

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

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

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

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

------

Putnam PanAgora ESG Emerging Markets Equity ETF 2026 Quarterly Report

------

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

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

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

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Common Stocks† | &nbsp;&nbsp; $57930992 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $57930992 |
| Short-Term Investments† | &nbsp;&nbsp; 209888 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 209888 |
| **Total Investments** | &nbsp;&nbsp; **$58140880** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$58140880** |

---

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

† See Schedule of Investments for additional detailed categorizations.

**2. Transactions with affiliated company**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>April 30, <br>2025 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>April 30, <br>2025 | Cost | Shares | Proceeds | Shares |
| Putnam Government <br> Money Market Fund, <br> Class P Shares<br>| $74420 | $10225806 | 10225806 | $10090338 | 10090338 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>January 31, <br>2026<br>|
| Putnam Government Money <br> Market Fund, Class P Shares<br>|  | $9226 |  | $209888 |

---

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Putnam PanAgora ESG Emerging Markets Equity ETF 2026 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

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

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

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

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

- **b. EDGAR series identifier (if any):** S000077300

- **c. LEI of Series:** 549300D6DERBDQV65J18

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $58174686.29

**Total Liabilities:** $28539.33

**Net Assets:** $58146146.96

**Cash Not Reported:** $39947.46

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237597 | -2.51%               | 3.48%                | 9.57%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1583385.19              | $-2921312.73                               |
| Month 2  | $170615.83               | $1430893.60                                |
| Month 3  | $0.00                    | $5014017.77                                |

### Schedule of Portfolio Investments

| Name                                | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HCL Technologies Ltd                | HCL Technologies Ltd                                         | CUSIP: 000000000<br>LEI: 549300C1F8OLYSOQYB65 | Long             | EC               | CORP              | IN        |     40374 | NS      | $744211.49    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Far EasTone Telecommunications      | Far EasTone Telecommunications Co Ltd                        | CUSIP: 000000000<br>LEI: 529900L7W7BWDLVZL253 | Long             | EC               | CORP              | TW        |    116000 | NS      | $327321.26    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ASE Technology Holding Co Ltd       | ASE Technology Holding Co Ltd                                | CUSIP: 000000000<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |     22000 | NS      | $207626.31    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharat Electronics Ltd              | Bharat Electronics Ltd                                       | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |    225696 | NS      | $1101644.29   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd           | Alibaba Group Holding Ltd                                    | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |     11113 | NS      | $1884320.28   | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| WuXi AppTec Co Ltd                  | WuXi AppTec Co Ltd                                           | CUSIP: 000000000<br>LEI: 254900OEPQLZSPLN9175 | Long             | EC               | CORP              | CN        |     42800 | NS      | $609229.27    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Petronas Dagangan Bhd               | Petronas Dagangan Bhd                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |     20800 | NS      | $111862.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vipshop Holdings Ltd                | Vipshop Holdings Ltd                                         | CUSIP: 92763W103<br>LEI: 549300I9F52K06HPZX60 | Long             | EC               | CORP              | CN        |     15666 | NS      | $268045.26    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| China Resources Gas Group Ltd       | China Resources Gas Group Ltd                                | CUSIP: 000000000<br>LEI: 529900A0E1J5JSOKEK83 | Long             | EC               | CORP              | HK        |     62600 | NS      | $172284.02    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SANXING MEDICAL                     | Ningbo Sanxing Medical Electric Co Ltd                       | CUSIP: 000000000<br>LEI: 300300F7H3O0GJJG4V34 | Long             | EC               | CORP              | CN        |      6200 | NS      | $21048.05     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd          | Samsung Electronics Co Ltd                                   | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     25588 | NS      | $2853184.66   | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Adnoc Gas PLC                       | Adnoc Gas PLC                                                | CUSIP: 000000000<br>LEI: 254900O5NS03BDOOM362 | Long             | EC               | CORP              | AE        |    529816 | NS      | $520799.39    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| JEREH GROUP                         | Yantai Jereh Oilfield Services Group Co Ltd                  | CUSIP: 000000000<br>LEI: 300300QPHWK638H2EU20 | Long             | EC               | CORP              | CN        |     36805 | NS      | $466635.72    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                      | ICICI Bank Ltd                                               | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     13201 | NS      | $194454.19    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Want Want China Holdings Ltd        | Want Want China Holdings Ltd                                 | CUSIP: 000000000<br>LEI: 5299005HZCEKX4O1J230 | Long             | EC               | CORP              | HK        |    271000 | NS      | $163735.74    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GREE                                | Gree Electric Appliances Inc of Zhuhai                       | CUSIP: 000000000<br>LEI: 655600UY069MU9JRAN62 | Long             | EC               | CORP              | CN        |     24800 | NS      | $137885.66    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| COPEL                               | Cia Paranaense de Energia - Copel                            | CUSIP: 000000000<br>LEI: 2549001AS1I9A71VG663 | Long             | EC               | CORP              | BR        |     63000 | NS      | $157776.83    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINT ELECTRICS                     | Zhejiang Chint Electrics Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     24400 | NS      | $102464.89    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PLDT Inc                            | PLDT Inc                                                     | CUSIP: 000000000<br>LEI: 254900ADE8GQHM5P2648 | Long             | EC               | CORP              | PH        |      6225 | NS      | $141668.29    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Mphasis Ltd                         | Mphasis Ltd                                                  | CUSIP: 000000000<br>LEI: 335800NSYTIQLQKUYP62 | Long             | EC               | CORP              | IN        |      5876 | NS      | $176240.08    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                     | Gold Fields Ltd                                              | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     27152 | NS      | $1360858.24   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Telekom Malaysia Bhd                | Telekom Malaysia Bhd                                         | CUSIP: 000000000<br>LEI: 254900SNFPTSDGGVEK77 | Long             | EC               | CORP              | MY        |     88700 | NS      | $177760.02    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Naspers Ltd                         | Naspers Ltd                                                  | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |      3928 | NS      | $241096.46    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NANSHAN ALUMINIUM                   | Shandong Nanshan Aluminum Co Ltd                             | CUSIP: 000000000<br>LEI: 836800YU5J3RT2VPUO65 | Long             | EC               | CORP              | CN        |     92900 | NS      | $97964.38     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| First Abu Dhabi Bank PJSC           | First Abu Dhabi Bank PJSC                                    | CUSIP: 000000000<br>LEI: 2138002Y3WMK6RZS8H90 | Long             | EC               | CORP              | AE        |    170747 | NS      | $864777.18    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS                                 | China Medical System Holdings Ltd                            | CUSIP: 000000000<br>LEI: 529900Z57DVJXUBLHX66 | Long             | EC               | CORP              | HK        |     75000 | NS      | $134694.90    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CMSK                                | China Merchants Shekou Industrial Zone Holdings Co Ltd       | CUSIP: 000000000<br>LEI: 300300T3ACALX7NIPW13 | Long             | EC               | CORP              | CN        |     88500 | NS      | $134392.40    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Yifeng Pharmacy Chain Co Ltd        | Yifeng Pharmacy Chain Co Ltd                                 | CUSIP: 000000000<br>LEI: 300300CZZIF44N1EZO06 | Long             | EC               | CORP              | CN        |     26200 | NS      | $89923.64     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander Chile               | Banco Santander Chile                                        | CUSIP: 000000000<br>LEI: 3YJP8HORPAEXJ80D6368 | Long             | EC               | CORP              | CL        |   2237568 | NS      | $196887.96    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| PICC P&C                            | PICC Property & Casualty Co Ltd                              | CUSIP: 000000000<br>LEI: 300300F1000311000017 | Long             | EC               | CORP              | CN        |    104000 | NS      | $215532.32    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| IDBI Bank Ltd                       | IDBI Bank Ltd                                                | CUSIP: 000000000<br>LEI: 335800UL1OJYBFEAPY30 | Long             | EC               | CORP              | IN        |     75623 | NS      | $81856.58     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| China Construction Bank Corp        | China Construction Bank Corp                                 | CUSIP: 000000000<br>LEI: 5493001KQW6DM7KEDR62 | Long             | EC               | CORP              | CN        |    332000 | NS      | $336160.57    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Inc               | Delta Electronics Inc                                        | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     47258 | NS      | $1832054.66   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Hon Hai Precision Industry Co       | Hon Hai Precision Industry Co Ltd                            | CUSIP: 000000000<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |     29000 | NS      | $203193.52    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Investec Ltd                        | Investec Ltd                                                 | CUSIP: 000000000<br>LEI: 213800CU7SM6O4UWOZ70 | Long             | EC               | CORP              | ZA        |      8355 | NS      | $67988.22     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LG Electronics Inc                  | LG Electronics Inc                                           | CUSIP: 000000000<br>LEI: 988400RMQFTGZIOG0609 | Long             | EC               | CORP              | KR        |      9247 | NS      | $636638.67    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| America Movil SAB de CV             | America Movil SAB de CV                                      | CUSIP: 000000000<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |    418500 | NS      | $431287.77    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Yunnan Baiyao Group Co Ltd          | Yunnan Baiyao Group Co Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     18000 | NS      | $143807.60    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Xiamen C & D Inc                    | Xiamen C & D Inc                                             | CUSIP: 000000000<br>LEI: 300300NQXZDZZ0OSCN43 | Long             | EC               | CORP              | CN        |     69700 | NS      | $95529.52     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| YILI                                | Inner Mongolia Yili Industrial Group Co Ltd                  | CUSIP: 000000000<br>LEI: 3003002Q2A863JPQFH06 | Long             | EC               | CORP              | CN        |     42396 | NS      | $160434.25    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc                         | NetEase Inc                                                  | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | CN        |      7396 | NS      | $952826.68    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Asustek Computer Inc                | Asustek Computer Inc                                         | CUSIP: 000000000<br>LEI: 254900B3WB4OGRB7HM13 | Long             | EC               | CORP              | TW        |     34394 | NS      | $542085.29    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| China Minsheng Banking Corp Lt      | China Minsheng Banking Corp Ltd                              | CUSIP: 000000000<br>LEI: 549300HBUGSQD1VCXG94 | Long             | EC               | CORP              | CN        |    758862 | NS      | $408837.30    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| 99 Speed Mart Retail Holdings       | 99 Speed Mart Retail Holdings Bhd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |     84800 | NS      | $86047.69     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Shengyi Technology Co Ltd           | Shengyi Technology Co Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     11400 | NS      | $112926.42    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| China Resources Land Ltd            | China Resources Land Ltd                                     | CUSIP: 000000000<br>LEI: 5299001HL0TU7X15HK51 | Long             | EC               | CORP              | HK        |    173000 | NS      | $679412.71    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                | Tencent Holdings Ltd                                         | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |     32588 | NS      | $2527915.41   | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PZU                                 | Powszechny Zaklad Ubezpieczen SA                             | CUSIP: 000000000<br>LEI: QLPCKOOKVX32FUELX240 | Long             | EC               | CORP              | PL        |     44036 | NS      | $868573.85    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Huatai Securities Co Ltd            | Huatai Securities Co Ltd                                     | CUSIP: 000000000<br>LEI: 3003009ABT0UCWO79Q77 | Long             | EC               | CORP              | CN        |     26300 | NS      | $86752.91     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Grid Corp of India Ltd        | Power Grid Corp of India Ltd                                 | CUSIP: 000000000<br>LEI: 3358009SHWZ3DZEQ4Z56 | Long             | EC               | CORP              | IN        |    378168 | NS      | $1054492.10   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Bangkok Dusit Medical Services      | Bangkok Dusit Medical Services PCL                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |    473500 | NS      | $302474.18    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| GIC of India                        | General Insurance Corp of India                              | CUSIP: 000000000<br>LEI: 5493001L5RU4INMMUJ95 | Long             | EC               | CORP              | IN        |     15670 | NS      | $64400.53     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay Financial Holding Co Lt      | Cathay Financial Holding Co Ltd                              | CUSIP: 000000000<br>LEI: 5299009XR1QLFAMQ3X77 | Long             | EC               | CORP              | TW        |    386000 | NS      | $924830.00    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| GRG Banking Equipment Co Ltd        | GRG Banking Equipment Co Ltd                                 | CUSIP: 000000000<br>LEI: 836800SWXACTDG5DWE68 | Long             | EC               | CORP              | CN        |     12500 | NS      | $23148.31     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinotrans Ltd                       | Sinotrans Ltd                                                | CUSIP: 000000000<br>LEI: 5299005U1RZLKVFWR249 | Long             | EC               | CORP              | CN        |    116400 | NS      | $100002.44    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Guosen Securities Co Ltd            | Guosen Securities Co Ltd                                     | CUSIP: 000000000<br>LEI: 254900SSGIWSMEOHDN82 | Long             | EC               | CORP              | CN        |     19700 | NS      | $35491.16     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Meituan                             | Meituan                                                      | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | CN        |     24300 | NS      | $302346.36    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ayala Land Inc                      | Ayala Land Inc                                               | CUSIP: 000000000<br>LEI: 254900EWT10TQ6DKTV34 | Long             | EC               | CORP              | PH        |    653500 | NS      | $235848.46    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BOC Aviation Ltd                    | BOC Aviation Ltd                                             | CUSIP: 000000000<br>LEI: 254900H06V5RMEB3KE72 | Long             | EC               | CORP              | SG        |     10300 | NS      | $106927.71    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Coromandel International Ltd        | Coromandel International Ltd                                 | CUSIP: 000000000<br>LEI: 335800U73K3HJSQKT249 | Long             | EC               | CORP              | IN        |     10675 | NS      | $264892.02    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte SAB d      | Grupo Financiero Banorte SAB de CV                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     88190 | NS      | $997007.23    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| E.Sun Financial Holding Co Ltd      | E.Sun Financial Holding Co Ltd                               | CUSIP: 000000000<br>LEI: 549300X6CNQE512OPC90 | Long             | EC               | CORP              | TW        |    754362 | NS      | $800625.70    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN Natural Gas Co Ltd              | ENN Natural Gas Co Ltd                                       | CUSIP: 000000000<br>LEI: 300300KVDMGNQNP52Z98 | Long             | EC               | CORP              | CN        |     40700 | NS      | $114079.63    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CNBM                                | China National Building Material Co Ltd                      | CUSIP: 000000000<br>LEI: 52990085PGF8YEPLBZ26 | Long             | EC               | CORP              | CN        |    372000 | NS      | $267615.62    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott India Ltd                    | Abbott India Ltd                                             | CUSIP: 000000000<br>LEI: 5493008KZ9E3HFRN6T46 | Long             | EC               | CORP              | IN        |       187 | NS      | $56036.47     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| YIWU CCC                            | Zhejiang China Commodities City Group Co Ltd                 | CUSIP: 000000000<br>LEI: 300300UELW04DCUGGZ27 | Long             | EC               | CORP              | CN        |     41000 | NS      | $94775.56     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Vibra Energia SA                    | Vibra Energia SA                                             | CUSIP: 000000000<br>LEI: 549300U7VLJ3SYVNY689 | Long             | EC               | CORP              | BR        |     98734 | NS      | $539565.56    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Financial Group Inc              | KB Financial Group Inc                                       | CUSIP: 000000000<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |      9660 | NS      | $907344.73    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                | Taiwan Semiconductor Manufacturing Co Ltd                    | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    153440 | NS      | $8654464.57   | 14.88%            |  |  |  | No            |                  1 | On Loan: No      |
| CMOC Group Ltd                      | CMOC Group Ltd                                               | CUSIP: 000000000<br>LEI: 2549008KG3638J59U652 | Long             | EC               | CORP              | CN        |    378000 | NS      | $1079986.18   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Falabella SA                        | Falabella SA                                                 | CUSIP: 000000000<br>LEI: 5493004CKJQ7H391LM41 | Long             | EC               | CORP              | CL        |     61847 | NS      | $480150.66    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinolink Securities Co Ltd          | Sinolink Securities Co Ltd                                   | CUSIP: 000000000<br>LEI: 300300XTI3CMWAP25D43 | Long             | EC               | CORP              | CN        |     59500 | NS      | $79668.99     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Petronet LNG Ltd                    | Petronet LNG Ltd                                             | CUSIP: 000000000<br>LEI: 335800KIIKNA7GRD9351 | Long             | EC               | CORP              | IN        |     34130 | NS      | $107505.56    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Wuxi Biologics Cayman Inc           | Wuxi Biologics Cayman Inc                                    | CUSIP: 000000000<br>LEI: 5493001TD2TH6VDTJU11 | Long             | EC               | CORP              | CN        |     59500 | NS      | $281806.43    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Tech Mahindra Ltd                   | Tech Mahindra Ltd                                            | CUSIP: 000000000<br>LEI: 3358005FZUZ1I25XQH69 | Long             | EC               | CORP              | IN        |      4243 | NS      | $80401.94     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Foxconn Industrial Internet Co      | Foxconn Industrial Internet Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     67271 | NS      | $557647.99    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Jarir Marketing Co                  | Jarir Marketing Co                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     57276 | NS      | $217913.59    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Info Service PCL           | Advanced Info Service PCL                                    | CUSIP: 000000000<br>LEI: 529900DU2YW1NO5RMU78 | Long             | EC               | CORP              | TH        |     39500 | NS      | $438121.72    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Telecom Co                    | Saudi Telecom Co                                             | CUSIP: 000000000<br>LEI: 21380028ATJ79OTA9W17 | Long             | EC               | CORP              | SA        |     68617 | NS      | $812273.66    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Coway Co Ltd                        | Coway Co Ltd                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3359 | NS      | $194623.18    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Komercni Banka AS                   | Komercni Banka AS                                            | CUSIP: 000000000<br>LEI: IYKCAVNFR8QGF00HV840 | Long             | EC               | CORP              | CZ        |      4326 | NS      | $262301.21    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| BAIYUNSHAN PH                       | Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd          | CUSIP: 000000000<br>LEI: 529900ROARJHMUIME057 | Long             | EC               | CORP              | CN        |     23400 | NS      | $84885.53     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TIM SA/Brazil                       | TIM SA/Brazil                                                | CUSIP: 000000000<br>LEI: 529900QI0CH1DN5ZCS77 | Long             | EC               | CORP              | BR        |     52800 | NS      | $246003.71    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinotruk Hong Kong Ltd              | Sinotruk Hong Kong Ltd                                       | CUSIP: 000000000<br>LEI: 529900BB4WA4W576X724 | Long             | EC               | CORP              | CN        |     51000 | NS      | $234497.77    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Motiva Infraestrutura de Mobil      | Motiva Infraestrutura de Mobilidade SA                       | CUSIP: 000000000<br>LEI: 254900H4EUL83CCQ6781 | Long             | EC               | CORP              | BR        |     87300 | NS      | $278019.67    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Pidilite Industries Ltd             | Pidilite Industries Ltd                                      | CUSIP: 000000000<br>LEI: 335800APXGEBZ349GN74 | Long             | EC               | CORP              | IN        |     12910 | NS      | $200847.95    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix Inc                        | SK hynix Inc                                                 | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      6103 | NS      | $3854124.64   | 6.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Weichai Power Co Ltd                | Weichai Power Co Ltd                                         | CUSIP: 000000000<br>LEI: 529900OKTPKBG85F9502 | Long             | EC               | CORP              | CN        |    163734 | NS      | $558439.37    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Government Money Market Fund | Putnam Government Money Market Fund                          | CUSIP: 74680A869<br>LEI: 549300SEUI2XMME8T893 | Long             | STIV             | RF                | US        |    209888 | NS      | $209888.49    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| People's Insurance Co Group of      | People's Insurance Co Group of China Ltd/The                 | CUSIP: 000000000<br>LEI: 3003000P2JHYHQ524P66 | Long             | EC               | CORP              | CN        |    791000 | NS      | $688521.65    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hana Financial Group Inc            | Hana Financial Group Inc                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     18560 | NS      | $1290715.58   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Auto Ltd                      | Bajaj Auto Ltd                                               | CUSIP: 000000000<br>LEI: 335800DLAO5NCNN8G863 | Long             | EC               | CORP              | IN        |      4477 | NS      | $467107.03    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Lenovo Group Ltd                    | Lenovo Group Ltd                                             | CUSIP: 000000000<br>LEI: 254900VUZRGD5U73RE46 | Long             | EC               | CORP              | CN        |    439065 | NS      | $499084.39    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Huatai Securities Co Ltd            | Huatai Securities Co Ltd                                     | CUSIP: 000000000<br>LEI: 3003009ABT0UCWO79Q77 | Long             | EC               | CORP              | CN        |     45400 | NS      | $108326.31    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                       | HDFC Bank Ltd                                                | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     47095 | NS      | $475749.74    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Hero MotoCorp Ltd                   | Hero MotoCorp Ltd                                            | CUSIP: 000000000<br>LEI: 335800Q49FBMZJTRLK49 | Long             | EC               | CORP              | IN        |     10236 | NS      | $615801.32    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniVision Integrated Circuits      | OmniVision Integrated Circuits Group Inc                     | CUSIP: 000000000<br>LEI: 8368000MFHXX01GPND38 | Long             | EC               | CORP              | CN        |      8646 | NS      | $150547.76    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ping An Bank Co Ltd                 | Ping An Bank Co Ltd                                          | CUSIP: 000000000<br>LEI: 549300W9MKNIVWXFM679 | Long             | EC               | CORP              | CN        |    119574 | NS      | $186046.57    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Marico Ltd                          | Marico Ltd                                                   | CUSIP: 000000000<br>LEI: 3358003SFDQFGJPC5O84 | Long             | EC               | CORP              | IN        |     45165 | NS      | $358324.96    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| SANQI HUYU                          | 37 Interactive Entertainment Network Technology Group Co Ltd | CUSIP: 000000000<br>LEI: 300300BE4IFCPHCUMI94 | Long             | EC               | CORP              | CN        |      6600 | NS      | $25146.29     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao         | B3 SA - Brasil Bolsa Balcao                                  | CUSIP: 000000000<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | EC               | CORP              | BR        |    307300 | NS      | $943023.13    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| DB Insurance Co Ltd                 | DB Insurance Co Ltd                                          | CUSIP: 000000000<br>LEI: 9884000ZF26VNJBWSJ91 | Long             | EC               | CORP              | KR        |      4180 | NS      | $414108.66    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Music Entertainment Gr      | Tencent Music Entertainment Group                            | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | CN        |      2591 | NS      | $43476.98     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kakao Corp                          | Kakao Corp                                                   | CUSIP: 000000000<br>LEI: 988400FTKUBQXKVZP434 | Long             | EC               | CORP              | KR        |      6692 | NS      | $285458.39    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd             | Reliance Industries Ltd                                      | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     13059 | NS      | $198097.88    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Etihad Etisalat Co                  | Etihad Etisalat Co                                           | CUSIP: 000000000<br>LEI: 2549007BA9ABDE3HVK79 | Long             | EC               | CORP              | SA        |     10698 | NS      | $200799.64    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Doosan Bobcat Inc                   | Doosan Bobcat Inc                                            | CUSIP: 000000000<br>LEI: 9884007K6X0Q0112FX44 | Long             | EC               | CORP              | KR        |      5023 | NS      | $205191.33    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Huadong Medicine Co Ltd             | Huadong Medicine Co Ltd                                      | CUSIP: 000000000<br>LEI: 300300WEZ30P69YUQZ42 | Long             | EC               | CORP              | CN        |     21900 | NS      | $113487.15    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| INDIAN CAP GAINS TAX                | INDIAN CAP GAINS TAX                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IN        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk PT            | Bank Central Asia Tbk PT                                     | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   1442000 | NS      | $635734.29    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Putnam ETF Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

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