# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000869392-23-000701
**Filing Date:** 2023-3
**Character Count:** 97211
**Document Hash:** 788ff7ab08e24e53c9ae5640abd273c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000701.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0000869392-23-000701

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Putnam ETF Trust
- **CENTRAL INDEX KEY:** 0001845809
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23643
- **FILM NUMBER:** 23774660

**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 ESG Core Bond ETF (Series ID: S000077297)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000237594 | -            |  |

## Nport-Ex

------

---

| |
|:---|
| **Putnam ESG Core Bond ETF** |
| **The fund's portfolio** |
| **1/31/23 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **U.S. GOVERNMENT AND AGENCY MORTGAGE OBLIGATIONS (27.9%)***<sup>(a)</sup>*** | **U.S. GOVERNMENT AND AGENCY MORTGAGE OBLIGATIONS (27.9%)***<sup>(a)</sup>*** | **U.S. GOVERNMENT AND AGENCY MORTGAGE OBLIGATIONS (27.9%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| **U.S. Government Guaranteed Mortgage Obligations (5.5%)** | **U.S. Government Guaranteed Mortgage Obligations (5.5%)** | **U.S. Government Guaranteed Mortgage Obligations (5.5%)** |
| Government National Mortgage Association Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/20/52 | $178689 | $169312 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/20/51 | 196888 | 176341 |
|  |  | **345653** |
| **U.S. Government Agency Mortgage Obligations (22.4%)** | **U.S. Government Agency Mortgage Obligations (22.4%)** | **U.S. Government Agency Mortgage Obligations (22.4%)** |
| Federal National Mortgage Association Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 8/1/52 | 181456 | 179309 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 5/1/52 | 179489 | 168635 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/1/52 | 185917 | 168995 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 1/1/52 | 397145 | 348167 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/1/51 | 418736 | 353975 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/1/36 | 192693 | 175584 |
|  |  | **1394665** |
| **Total U.S. government and agency mortgage obligations (cost $1,749,420)** | **Total U.S. government and agency mortgage obligations (cost $1,749,420)** | **$1740318** |

---

------

---

| | | |
|:---|:---|:---|
| **U.S. TREASURY OBLIGATIONS (34.9%)***<sup>(a)</sup>*** | **U.S. TREASURY OBLIGATIONS (34.9%)***<sup>(a)</sup>*** | **U.S. TREASURY OBLIGATIONS (34.9%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.125%, 8/15/29 | $80000 | $91684 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 2/15/26 | 750000 | 795352 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/52 | 450000 | 481219 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.375%, 8/15/42 | 160000 | 151275 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 3/15/25 | 300000 | 285574 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 8/15/31 | 400000 | 335641 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, Class A 3/31/28 | 40000 | 35575 |
| **Total U.S. treasury obligations (cost $2,188,620)** |  | **$2176320** |

---

------

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS AND NOTES (24.7%)***<sup>(a)</sup>*** | **CORPORATE BONDS AND NOTES (24.7%)***<sup>(a)</sup>*** | **CORPORATE BONDS AND NOTES (24.7%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| **Basic materials (1.0%)** | **Basic materials (1.0%)** | **Basic materials (1.0%)** |
| Cabot Corp. sr. unsec. bonds 5.00%, 6/30/32 | $11000 | $10723 |
| Celanese US Holdings, LLC company guaranty sr. unsec. notes 6.165%, 7/15/27 (Germany) | 14000 | 14181 |
| CF Industries, Inc. company guaranty sr. unsec. bonds 4.95%, 6/1/43 | 8000 | 7281 |
| Huntsman International, LLC sr. unsec. notes 4.50%, 5/1/29 | 6000 | 5626 |
| International Flavors & Fragrances, Inc. 144A sr. unsec. notes 2.30%, 11/1/30 | 2000 | 1658 |
| Nutrien, Ltd. sr. unsec. sub. bonds 4.20%, 4/1/29 (Canada) | 8000 | 7757 |
| Weyerhaeuser Co. sr. unsec. unsub. bonds 3.375%, 3/9/33***<sup>(R)</sup>*** | 14000 | 12307 |
|  |  | **59533** |
| **Capital goods (0.9%)** | **Capital goods (0.9%)** | **Capital goods (0.9%)** |
| Berry Global, Inc. 144A company guaranty sr. notes 1.57%, 1/15/26 | 18000 | 16272 |
| L3Harris Technologies, Inc. sr. unsec. notes 3.85%, 12/15/26 | 8000 | 7782 |
| Northrop Grumman Corp. sr. unsec. unsub. notes 3.25%, 1/15/28 | 18000 | 17093 |
| Waste Connections, Inc. sr. unsec. bonds 4.20%, 1/15/33 | 14000 | 13600 |
|  |  | **54747** |
| **Communication services (4.7%)** | **Communication services (4.7%)** | **Communication services (4.7%)** |
| American Tower Corp. sr. unsec. notes 2.90%, 1/15/30***<sup>(R)</sup>*** | 46000 | 40190 |
| AT&T, Inc. company guaranty sr. unsec. unsub. notes 2.30%, 6/1/27 | 20000 | 18279 |
| AT&T, Inc. sr. unsec. unsub. bonds 4.35%, 3/1/29 | 10000 | 9829 |
| AT&T, Inc. sr. unsec. unsub. bonds 2.55%, 12/1/33 | 137000 | 110774 |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. company guaranty sr. sub. bonds 4.80%, 3/1/50 | 6000 | 4725 |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. company guaranty sr. sub. notes 4.908%, 7/23/25 | 4000 | 3979 |
| Crown Castle, Inc. sr. unsec. bonds 3.80%, 2/15/28***<sup>(R)</sup>*** | 10000 | 9543 |
| Crown Castle, Inc. sr. unsec. bonds 3.65%, 9/1/27***<sup>(R)</sup>*** | 10000 | 9542 |
| Crown Castle, Inc. sr. unsec. sub. bonds 3.30%, 7/1/30***<sup>(R)</sup>*** | 11000 | 9999 |
| Equinix, Inc. sr. unsec. sub. notes 3.20%, 11/18/29***<sup>(R)</sup>*** | 10000 | 9052 |
| T-Mobile USA, Inc. company guaranty sr. notes 3.875%, 4/15/30 | 2000 | 1873 |
| T-Mobile USA, Inc. company guaranty sr. notes 3.75%, 4/15/27 | 10000 | 9619 |
| T-Mobile USA, Inc. company guaranty sr. unsec. bonds 3.30%, 2/15/51 | 32000 | 23039 |
| T-Mobile USA, Inc. company guaranty sr. unsec. notes 2.625%, 2/15/29 | 12000 | 10488 |
| Verizon Communications, Inc. sr. unsec. notes 2.55%, 3/21/31 | 12000 | 10243 |
| Verizon Communications, Inc. sr. unsec. unsub. notes 2.10%, 3/22/28 | 14000 | 12485 |
|  |  | **293659** |
| **Conglomerates (0.2%)** | **Conglomerates (0.2%)** | **Conglomerates (0.2%)** |
| General Electric Co. jr. unsec. sub. FRN (ICE LIBOR USD 3 Month + 3.33%), 8.099%, perpetual maturity | 10000 | 9965 |
|  |  | **9965** |
| **Consumer cyclicals (1.5%)** | **Consumer cyclicals (1.5%)** | **Consumer cyclicals (1.5%)** |
| Block, Inc. sr. unsec. notes 3.50%, 6/1/31 | 12000 | 10020 |
| Booking Holdings, Inc. sr. unsec. sub. notes 4.625%, 4/13/30 | 14000 | 14055 |
| General Motors Financial Co., Inc. sr. unsec. sub. notes 2.40%, 4/10/28 | 20000 | 17422 |
| Global Payments, Inc. sr. unsec. notes 2.15%, 1/15/27 | 6000 | 5398 |
| Interpublic Group of Cos, Inc. (The) sr. unsec. unsub. notes 2.40%, 3/1/31 | 6000 | 4962 |
| Lennar Corp. company guaranty sr. unsec. unsub. notes 4.75%, 11/29/27 | 8000 | 7891 |
| Moody's Corp. sr. unsec. notes 3.25%, 1/15/28 | 8000 | 7555 |
| Paramount Global sr. unsec. unsub. notes 4.20%, 6/1/29 | 8000 | 7424 |
| S&P Global, Inc. company guaranty sr. unsec. bonds 2.50%, 12/1/29 | 8000 | 7089 |
| S&P Global, Inc. company guaranty sr. unsec. notes 1.25%, 8/15/30 | 4000 | 3190 |
| Warnermedia Holdings, Inc. 144A company guaranty sr. unsec. bonds 4.279%, 3/15/32 | 12000 | 10679 |
|  |  | **95685** |
| **Consumer staples (0.7%)** | **Consumer staples (0.7%)** | **Consumer staples (0.7%)** |
| Kraft Heinz Foods Co. company guaranty sr. unsec. sub. notes 3.875%, 5/15/27 | 24000 | 23381 |
| Netflix, Inc. sr. unsec. unsub. notes 5.875%, 11/15/28 | 7000 | 7262 |
| Netflix, Inc. sr. unsec. unsub. notes 4.375%, 11/15/26 | 10000 | 9926 |
|  |  | **40569** |
| **Energy (1.4%)** | **Energy (1.4%)** | **Energy (1.4%)** |
| Cheniere Corpus Christi Holdings, LLC company guaranty sr. notes 5.875%, 3/31/25 | 4000 | 4039 |
| Cheniere Corpus Christi Holdings, LLC company guaranty sr. notes 5.125%, 6/30/27 | 4000 | 4030 |
| Cheniere Energy Partners LP company guaranty sr. unsec. unsub. notes 3.25%, 1/31/32 | 18000 | 15027 |
| Continental Resources, Inc. company guaranty sr. unsec. notes 4.375%, 1/15/28 | 14000 | 13321 |
| Diamondback Energy, Inc. company guaranty sr. unsec. notes 3.25%, 12/1/26 | 8000 | 7568 |
| DT Midstream, Inc. 144A sr. bonds 4.30%, 4/15/32 | 6000 | 5512 |
| EQT Corp. sr. unsec. notes 5.678%, 10/1/25 | 4000 | 4005 |
| Kinetik Holdings LP 144A company guaranty sr. unsec. notes 5.875%, 6/15/30 | 6000 | 5700 |
| Occidental Petroleum Corp. sr. unsec. sub. notes 8.50%, 7/15/27 | 12000 | 13275 |
| ONEOK, Inc. company guaranty sr. unsec. unsub. notes 6.10%, 11/15/32 | 6000 | 6309 |
| Sabine Pass Liquefaction, LLC sr. notes 5.00%, 3/15/27 | 4000 | 4007 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. company guaranty sr. unsec. unsub. notes 4.875%, 2/1/31 | 6000 | 5609 |
| Venture Global Calcasieu Pass, LLC 144A company guaranty sr. notes 6.25%, 1/15/30 | 2000 | 2038 |
|  |  | **90440** |
| **Financials (9.5%)** | **Financials (9.5%)** | **Financials (9.5%)** |
| Air Lease Corp. sr. unsec. sub. bonds 4.625%, 10/1/28 | 12000 | 11593 |
| Air Lease Corp. sr. unsec. sub. notes 3.25%, 10/1/29 | 4000 | 3539 |
| Ally Financial, Inc. company guaranty sr. unsec. notes 8.00%, 11/1/31 | 4000 | 4405 |
| Ares Capital Corp. sr. unsec. sub. notes 3.875%, 1/15/26 | 14000 | 13169 |
| Bank of America Corp. sr. unsec. FRN Ser. MTN, 2.496%, 2/13/31 | 12000 | 10208 |
| Bank of America Corp. unsec. sub. FRB 3.846%, 3/8/37 | 35000 | 30500 |
| Bank of America Corp. unsec. sub. notes Ser. L, 4.183%, 11/25/27 | 78000 | 76592 |
| Berkshire Hathaway, Inc. sr. unsec. unsub. notes 3.125%, 3/15/26 | 12000 | 11656 |
| Corebridge Financial, Inc. 144A sr. unsec. notes 3.85%, 4/5/29 | 8000 | 7467 |
| Digital Realty Trust LP company guaranty sr. unsec. bonds 4.45%, 7/15/28***<sup>(R)</sup>*** | 25000 | 24227 |
| Fairfax Financial Holdings, Ltd. sr. unsec. notes 4.85%, 4/17/28 (Canada) | 10000 | 9713 |
| Fidelity National Financial, Inc. sr. unsec. bonds 3.20%, 9/17/51 | 8000 | 5033 |
| First-Citizens Bank & Trust Co. unsec. sub. notes 6.125%, 3/9/28 | 50000 | 52411 |
| GLP Capital LP/GLP Financing II, Inc. company guaranty sr. unsec. unsub. notes 5.375%, 4/15/26 | 8000 | 7992 |
| Goldman Sachs Group, Inc. (The) jr. unsec. sub. FRN 3.65%, 7/28/51 | 10000 | 8696 |
| Goldman Sachs Group, Inc. (The) sr. unsec. FRB 4.223%, 5/1/29 | 18000 | 17357 |
| Goldman Sachs Group, Inc. (The) sr. unsec. unsub. notes 2.60%, 2/7/30 | 6000 | 5219 |
| Intercontinental Exchange, Inc. sr. unsec. bonds 1.85%, 9/15/32 | 28000 | 22041 |
| JPMorgan Chase & Co. jr. unsec. sub. FRB Ser. W, (ICE LIBOR USD 3 Month + 1.00%), 5.606%, 5/15/47 | 6000 | 4740 |
| JPMorgan Chase & Co. sr. unsec. unsub. FRB 3.964%, 11/15/48 | 6000 | 5135 |
| JPMorgan Chase & Co. sr. unsec. unsub. FRN 4.323%, 4/26/28 | 52000 | 50966 |
| JPMorgan Chase & Co. unsec. sub. FRB 2.956%, 5/13/31 | 102000 | 88490 |
| KKR Group Finance Co. VI, LLC 144A company guaranty sr. unsec. bonds 3.75%, 7/1/29 | 6000 | 5547 |
| Morgan Stanley unsec. sub. notes Ser. GMTN, 4.35%, 9/8/26 | 57000 | 55878 |
| PNC Financial Services Group, Inc. (The) unsec. sub. FRB 4.626%, 6/6/33 | 32000 | 30941 |
| US Bancorp unsec. sub. FRB 2.491%, 11/3/36 | 12000 | 9590 |
| VICI Properties LP sr. unsec. unsub. notes 4.75%, 2/15/28***<sup>(R)</sup>*** | 18000 | 17430 |
| VICI Properties LP/VICI Note Co., Inc. 144A company guaranty sr. unsec. notes 3.75%, 2/15/27***<sup>(R)</sup>*** | 2000 | 1848 |
| Westpac Banking Corp. unsec. sub. bonds 4.421%, 7/24/39 (Australia) | 4000 | 3482 |
| Westpac Banking Corp. unsec. sub. bonds 2.963%, 11/16/40 (Australia) | 4000 | 2880 |
|  |  | **598745** |
| **Health care (1.0%)** | **Health care (1.0%)** | **Health care (1.0%)** |
| Becton Dickinson and Co. sr. unsec. notes 3.70%, 6/6/27 | 8000 | 7780 |
| CVS Health Corp. sr. unsec. notes 1.30%, 8/21/27 | 12000 | 10409 |
| DH Europe Finance II SARL company guaranty sr. unsec. notes 2.60%, 11/15/29 (Luxembourg) | 8000 | 7180 |
| HCA, Inc. company guaranty sr. notes 4.50%, 2/15/27 | 8000 | 7870 |
| Humana, Inc. sr. unsec. unsub. notes 5.75%, 3/1/28 | 10000 | 10439 |
| Zoetis, Inc. sr. unsec. notes 3.90%, 8/20/28 | 8000 | 7815 |
| Zoetis, Inc. sr. unsec. sub. notes 2.00%, 5/15/30 | 14000 | 11853 |
|  |  | **63346** |
| **Technology (2.9%)** | **Technology (2.9%)** | **Technology (2.9%)** |
| Alphabet, Inc. sr. unsec. bonds 2.25%, 8/15/60 | 10000 | 6154 |
| Apple, Inc. sr. unsec. notes 3.00%, 11/13/27 | 36000 | 34317 |
| Broadcom Corp./Broadcom Cayman Finance, Ltd. company guaranty sr. unsec. unsub. notes 3.875%, 1/15/27 | 10000 | 9635 |
| Broadcom, Inc. company guaranty sr. unsec. bonds 4.15%, 11/15/30 | 6000 | 5597 |
| Broadcom, Inc. company guaranty sr. unsec. sub. notes 5.00%, 4/15/30 | 18000 | 17803 |
| Broadcom, Inc. 144A sr. unsec. bonds 4.926%, 5/15/37 | 8000 | 7343 |
| Meta Platforms, Inc. sr. unsec. unsub. bonds 4.45%, 8/15/52 | 30000 | 26199 |
| Meta Platforms, Inc. sr. unsec. unsub. notes 3.85%, 8/15/32 | 25000 | 23240 |
| Meta Platforms, Inc. sr. unsec. unsub. notes 3.50%, 8/15/27 | 6000 | 5762 |
| Microsoft Corp. sr. unsec. unsub. bonds 3.50%, 2/12/35 | 10000 | 9418 |
| Microsoft Corp. sr. unsec. unsub. bonds 2.921%, 3/17/52 | 6000 | 4588 |
| Oracle Corp. sr. unsec. bonds 3.95%, 3/25/51 | 11000 | 8550 |
| Oracle Corp. sr. unsec. bonds 3.65%, 3/25/41 | 12000 | 9498 |
| Oracle Corp. sr. unsec. notes 2.95%, 4/1/30 | 8000 | 7037 |
| Oracle Corp. sr. unsec. notes 1.65%, 3/25/26 | 4000 | 3648 |
|  |  | **178789** |
| **Utilities and power (0.9%)** | **Utilities and power (0.9%)** | **Utilities and power (0.9%)** |
| Boardwalk Pipelines LP company guaranty sr. unsec. notes 3.60%, 9/1/32 | 8000 | 6956 |
| Duke Energy Ohio, Inc. sr. bonds 3.65%, 2/1/29 | 14000 | 13378 |
| Enterprise Products Operating, LLC company guaranty sr. unsec. notes 2.80%, 1/31/30 | 12000 | 10636 |
| Florida Power & Light Co. sr. bonds 3.95%, 3/1/48 | 14000 | 12340 |
| Kinder Morgan, Inc. company guaranty sr. unsec. unsub. bonds 5.20%, 6/1/33 | 10000 | 9965 |
|  |  | **53275** |
| **Total corporate bonds and notes (cost $1,543,222)** |  | **$1538753** |

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| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES (9.9%)***<sup>(a)</sup>*** | **MORTGAGE-BACKED SECURITIES (9.9%)***<sup>(a)</sup>*** | **MORTGAGE-BACKED SECURITIES (9.9%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| **Commercial mortgage-backed securities (9.9%)** | **Commercial mortgage-backed securities (9.9%)** | **Commercial mortgage-backed securities (9.9%)** |
| Banc of America Commercial Mortgage Trust Ser. 15-UBS7, Class AS, 3.989%, 9/15/48***<sup>(WAC)</sup>*** | $66000 | $62457 |
| BANK FRB Ser. 17-BNK8, Class B, 3.952%, 11/15/50***<sup>(WAC)</sup>*** | 56000 | 49324 |
| BBCMS Mortgage Trust FRB Ser. 20-C6, Class XA, 1.05%, 2/15/53***<sup>(WAC)</sup>*** | 988914 | 51984 |
| Benchmark Mortgage Trust Ser. 19-B11, Class AS, 3.784%, 5/15/52 | 54000 | 49107 |
| COMM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FRB Ser. 14-CR15, Class B, 4.622%, 2/10/47***<sup>(WAC)</sup>*** | 51000 | 49456 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ser. 18-COR3, Class AM, 4.341%, 5/10/51***<sup>(WAC)</sup>*** | 42000 | 39916 |
| &nbsp;&nbsp;&nbsp;&nbsp;FRB Ser. 15-LC19, Class B, 3.829%, 2/10/48***<sup>(WAC)</sup>*** | 53000 | 49663 |
| CSAIL Commercial Mortgage Trust FRB Ser. 20-C19, Class XA, IO, 1.107%, 3/15/53***<sup>(WAC)</sup>*** | 985888 | 58773 |
| GS Mortgage Securities Trust FRB Ser. 20-GC47, Class C, 3.454%, 5/12/53***<sup>(WAC)</sup>*** | 61000 | 48330 |
| JPMBB Commercial Mortgage Securities Trust FRB Ser. 14-C23, Class B, 4.484%, 9/15/47***<sup>(WAC)</sup>*** | 32000 | 30232 |
| Morgan Stanley Bank of America Merrill Lynch Trust FRB Ser. 14-C16, Class B, 4.301%, 6/15/47***<sup>(WAC)</sup>*** | 33000 | 30804 |
| Morgan Stanley Capital I Trust Ser. 16-UB12, Class AS, 3.778%, 12/15/49***<sup>(WAC)</sup>*** | 55000 | 49271 |
| Wells Fargo Commercial Mortgage Trust FRB Ser. 20-C57, Class C, 4.023%, 8/15/53***<sup>(WAC)</sup>*** | 58000 | 48968 |
|  |  | **618285** |
| **Total mortgage-backed securities (cost $617,503)** |  | **$618285** |

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| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENTS (1.5%)***<sup>(a)</sup>*** | **SHORT-TERM INVESTMENTS (1.5%)***<sup>(a)</sup>*** | **SHORT-TERM INVESTMENTS (1.5%)***<sup>(a)</sup>*** |
| | **Shares** | **Value** |
| Putnam Government Money Market Fund Class P 3.93%***<sup>(AFF)</sup>*** | 95751 | $95751 |
| **Total short-term investments (cost $95,751)** |  | **$95751** |
| **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** |
| **Total investments (cost $6,194,516)** |  | **$6169427** |

---

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| | | |
|:---|:---|:---|
|  | ***Key to holding's abbreviations*** | ***Key to holding's abbreviations*** |
| ETF | Exchange Traded Fund | Exchange Traded Fund |
| FRB | Floating Rate Bonds: The rate shown is the current interest rate at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period. | Floating Rate Bonds: The rate shown is the current interest rate at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period. |
| FRN | Floating Rate Notes: The rate shown is the current interest rate or yield at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period. | Floating Rate Notes: The rate shown is the current interest rate or yield at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period. |
| ICE | Intercontinental Exchange | Intercontinental Exchange |
| IO | Interest Only | Interest Only |
| LIBOR | London Interbank Offered Rate | London Interbank Offered Rate |
|  | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** |
|  | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from January 19, 2023 (commencement of operations) through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from January 19, 2023 (commencement of operations) through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. |
| ***<sup>(a)</sup>*** | Percentages indicated are based on net assets of $6,229,476. | Percentages indicated are based on net assets of $6,229,476. |
| ***<sup>(AFF)</sup>*** | Affiliated company. For investments in Putnam Government Money Market Fund, the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows: | Affiliated company. For investments in Putnam Government Money Market Fund, the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows: |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Name of affiliate** | **Shares outstanding<br>and fair<br>value as of<br>1/31/23** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Putnam Government Money Market Fund\* | $95751 |
|  | **Total Short-term investments** | **$95751** |
|  | \* Management fees incurred through investment in Putnam Government Money Market Fund have been waived by the fund. There were no realized or unrealized gains or losses during the period. | \* Management fees incurred through investment in Putnam Government Money Market Fund have been waived by the fund. There were no realized or unrealized gains or losses during the period. |
| ***<sup>(R)</sup>*** | Real Estate Investment Trust. | Real Estate Investment Trust. |
| ***<sup>(WAC)</sup>*** | The rate shown represents the weighted average coupon associated with the underlying mortgage pools. Rates may be subject to a cap or floor. | The rate shown represents the weighted average coupon associated with the underlying mortgage pools. Rates may be subject to a cap or floor. |
|  | Debt obligations are considered secured unless otherwise indicated. | Debt obligations are considered secured unless otherwise indicated. |
|  | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
|  | The dates shown on debt obligations are the original maturity dates. | The dates shown on debt obligations are the original maturity dates. |
|  | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. |
|  | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. |
|  | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. |
|  | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. |
|  | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. Certain securities may be valued on the basis of a price provided by a single source. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. Certain securities may be valued on the basis of a price provided by a single source. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. |
|  | **Stripped securities:** The fund may invest in stripped securities which represent a participation in securities that may be structured in classes with rights to receive different portions of the interest and principal. Interest-only securities receive all of the interest and principal-only securities receive all of the principal. If the interest-only securities experience greater than anticipated prepayments of principal, the fund may fail to recoup fully its initial investment in these securities. Conversely, principal-only securities increase in value if prepayments are greater than anticipated and decline if prepayments are slower than anticipated. The fair value of these securities is highly sensitive to changes in interest rates. | **Stripped securities:** The fund may invest in stripped securities which represent a participation in securities that may be structured in classes with rights to receive different portions of the interest and principal. Interest-only securities receive all of the interest and principal-only securities receive all of the principal. If the interest-only securities experience greater than anticipated prepayments of principal, the fund may fail to recoup fully its initial investment in these securities. Conversely, principal-only securities increase in value if prepayments are greater than anticipated and decline if prepayments are slower than anticipated. The fair value of these securities is highly sensitive to changes in interest rates. |

---

------

---

| | | | |
|:---|:---|:---|:---|
| ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. |
| The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: |
|  | **Valuation inputs** | **Valuation inputs** | **Valuation inputs** |
| **Investments in securities:** | **Level 1** | **Level 2** | **Level 3** |
| Corporate bonds and notes | $— | $1538753 | $— |
| Mortgage-backed securities |  | 618285 |  |
| U.S. government and agency mortgage obligations |  | 1740318 |  |
| U.S. treasury obligations |  | 2176320 |  |
| Short-term investments | 95751 |  |  |
| **Totals by level** | **$95751** | **$6073676** | **$—** |
| For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com |

---

## 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:** 100 FEDERAL STREET

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

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

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

- **a. Name of Series:** Putnam ESG Core Bond ETF

- **b. EDGAR series identifier (if any):** S000077297

- **c. LEI of Series:** 549300WPUCAJ9XFIRU61

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

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $6311353.98

**Total Liabilities:** $81875.39

**Net Assets:** $6229478.59

**Cash Not Reported:** $83735.57

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 5.45 | **1-Year:** 305.12 | **5-Year:** 917.52 | **10-Year:** 1347.13 | **30-Year:** 995.12

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.07 | **1-Year:** 1.73 | **5-Year:** 8.22 | **10-Year:** 5.25 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237594 |  |  |  |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-11.75                  | $-25089.75                                 |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $0.00                    | $0.00                                      |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BBCMS MORTGAGE TRUST 2020-C6                                                    | COMMERCIAL MORT BACKED SEC IO         | CUSIP: 05492TAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    988914 | PA      | $51984.13     | 0.83%             | 2053-02-15      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| CSAIL 2020-C19 COMMERCIAL MORTGAGE TRUST                                        | COMMERCIAL MORT BACKED SEC IO         | CUSIP: 12597NAU7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    985888 | PA      | $58772.71     | 0.94%             | 2053-03-15      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST 2014-C16                     | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 61763MAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     33000 | PA      | $30804.18     | 0.49%             | 2047-06-15      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| COMM 2018-COR3 MORTGAGE TRUST                                                   | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 12595VAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     42000 | PA      | $39916.35     | 0.64%             | 2051-05-10      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST 2020-C57                                  | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 95002XBG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     58000 | PA      | $48968.23     | 0.79%             | 2053-08-15      | Variable      | 4.02%                 | No            |                  2 | On Loan: No      |
| BANK 2017-BNK8                                                                  | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 06650AAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56000 | PA      | $49323.62     | 0.79%             | 2050-11-15      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2014-C23                             | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 46643ABK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     32000 | PA      | $30232.35     | 0.49%             | 2047-09-15      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES TRUST 2020-GC47                                          | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 36258RBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     61000 | PA      | $48330.29     | 0.78%             | 2053-05-12      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| BENCHMARK 2019-B11 MORTGAGE TRUST                                               | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 08162BBJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     54000 | PA      | $49107.12     | 0.79%             | 2052-05-15      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA COMMERCIAL MORTGAGE TRUST 2015-UBS7                             | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 06054ABB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     66000 | PA      | $62457.25     | 1.00%             | 2048-09-15      | Variable      | 3.99%                 | No            |                  2 | On Loan: No      |
| COMM 2014-CCRE15 MORTGAGE TRUST                                                 | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 12591RBD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     51000 | PA      | $49456.49     | 0.79%             | 2047-02-10      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY CAPITAL I TRUST 2016-UBS12                                       | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 61691EBD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     55000 | PA      | $49271.40     | 0.79%             | 2049-12-15      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| COMM 2015-LC19 MORTGAGE TRUST                                                   | COMMERCIAL MORTGAGE BACKED SECURITIES | CUSIP: 200474BF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     53000 | PA      | $49663.49     | 0.80%             | 2048-02-10      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                  | CORP MED TERM NOTE                    | CUSIP: 6174467Y9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     57000 | PA      | $55878.18     | 0.90%             | 2026-09-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                            | CORP MED TERM NOTE                    | CUSIP: 06051GGC7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     78000 | PA      | $76592.24     | 1.23%             | 2027-11-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC                                                       | CORP. NOTE                            | CUSIP: 502431AL3<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7781.60      | 0.12%             | 2026-12-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                                     | CORP. NOTE                            | CUSIP: 29444UBE5<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9052.13      | 0.15%             | 2029-11-18      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                          | CORP. NOTE                            | CUSIP: 25278XAM1<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7568.22      | 0.12%             | 2026-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP / VICI NOTE CO INC                                           | CORP. NOTE                            | CUSIP: 92564RAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $1847.89      | 0.03%             | 2027-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU PASS LLC                                               | CORP. NOTE                            | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      2000 | PA      | $2037.56      | 0.03%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                     | CORP. NOTE                            | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7037.00      | 0.11%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                | CORP. NOTE                            | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1873.16      | 0.03%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                | CORP. NOTE                            | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9618.77      | 0.15%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BOOKING HOLDINGS INC                                                            | CORP. NOTE                            | CUSIP: 09857LAR9<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14055.34     | 0.23%             | 2030-04-13      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                                            | CORP. NOTE                            | CUSIP: 50077LBC9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     24000 | PA      | $23380.91     | 0.38%             | 2027-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AT AND T INC                                                                    | CORP. NOTE                            | CUSIP: 00206RJX1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18278.69     | 0.29%             | 2027-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORP                                                       | CORP. NOTE                            | CUSIP: 674599DZ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     12000 | PA      | $13275.00     | 0.21%             | 2027-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                                               | CORP. NOTE                            | CUSIP: 04010LAZ6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13169.31     | 0.21%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                 | CORP. NOTE                            | CUSIP: 126650DM9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10408.88     | 0.17%             | 2027-08-21      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                                                                | CORP. NOTE                            | CUSIP: 08576PAH4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |     18000 | PA      | $16271.52     | 0.26%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                | CORP. NOTE                            | CUSIP: 87264ABS3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10488.00     | 0.17%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS INC                                                      | CORP. NOTE                            | CUSIP: 92343VGJ7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10242.56     | 0.16%             | 2031-03-21      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS INC                                                      | CORP. NOTE                            | CUSIP: 92343VGH1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     14000 | PA      | $12485.29     | 0.20%             | 2028-03-22      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                     | CORP. NOTE                            | CUSIP: 68389XCC7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3648.00      | 0.06%             | 2026-03-25      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINANCIAL CO INC                                                 | CORP. NOTE                            | CUSIP: 37045XDH6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17421.73     | 0.28%             | 2028-04-10      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                                             | CORP. NOTE                            | CUSIP: 37940XAG7<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5397.86      | 0.09%             | 2027-01-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                        | CORP. NOTE                            | CUSIP: 55903VAL7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10679.46     | 0.17%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                        | CORP. NOTE                            | CUSIP: 21871XAE9<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7466.73      | 0.12%             | 2029-04-05      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                                              | CORP. NOTE                            | CUSIP: 925650AB9<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17429.89     | 0.28%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                                             | CORP. NOTE                            | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5700.00      | 0.09%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                                        | CORP. NOTE                            | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14180.75     | 0.23%             | 2027-07-15      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                              | CORP. NOTE                            | CUSIP: 30303M8G0<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5761.94      | 0.09%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                        | CORP. NOTE                            | CUSIP: 26884LAP4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4005.22      | 0.06%             | 2025-10-01      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                                                      | CORP. NOTE                            | CUSIP: 444859BU5<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10439.43     | 0.17%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                                       | CORP. NOTE                            | CUSIP: 682680BG7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6309.17      | 0.10%             | 2032-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| KKR GROUP FINANCE CO VI LLC                                                     | CORP. NOTE                            | CUSIP: 48252AAA9<br>LEI: 549300TUJWGHJM3FSJ07 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5546.93      | 0.09%             | 2029-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                                                     | CORP. NOTE                            | CUSIP: 67077MAT5<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |      8000 | PA      | $7756.53      | 0.12%             | 2029-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                                                      | CORP. NOTE                            | CUSIP: 98978VAN3<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7815.37      | 0.13%             | 2028-08-20      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| LENNAR CORP                                                                     | CORP. NOTE                            | CUSIP: 526057CD4<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7891.43      | 0.13%             | 2027-11-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LTD                                                  | CORP. NOTE                            | CUSIP: 303901BB7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $9713.02      | 0.16%             | 2028-04-17      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| FIRST-CITIZENS BANK  AND  TRUST CO                                              | CORP. NOTE                            | CUSIP: 125581GX0<br>LEI: L9VVX1KT5TFTKS0MLF66 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52411.42     | 0.84%             | 2028-03-09      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                                       | CORP. NOTE                            | CUSIP: 037833DK3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     36000 | PA      | $34316.51     | 0.55%             | 2027-11-13      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MOODY'S CORP                                                                    | CORP. NOTE                            | CUSIP: 615369AM7<br>LEI: 549300GCEDD8YCF5WU84 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7555.00      | 0.12%             | 2028-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON  AND  CO                                                       | CORP. NOTE                            | CUSIP: 075887BW8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7779.88      | 0.12%             | 2027-06-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BROADCOM CRP /  CAYMN FI                                                        | CORP. NOTE                            | CUSIP: 11134LAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $9635.44      | 0.15%             | 2027-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORPUS CHRISTI HOLDINGS LLC                                            | CORP. NOTE                            | CUSIP: 16412XAC9<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4038.55      | 0.06%             | 2025-03-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION LLC                                                    | CORP. NOTE                            | CUSIP: 785592AS5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4007.39      | 0.06%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / GLP FINANCING II INC                                           | CORP. NOTE                            | CUSIP: 361841AH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8000 | PA      | $7991.84      | 0.13%             | 2026-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY INC                                                          | CORP. NOTE                            | CUSIP: 084670BS6<br>LEI: 5493000C01ZX7D35SD85 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11655.69     | 0.19%             | 2026-03-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL | CORP. NOTE                            | CUSIP: 161175AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4000 | PA      | $3979.44      | 0.06%             | 2025-07-23      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC/THE                                                     | CORP. NOTE                            | CUSIP: 38141GXG4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5218.55      | 0.08%             | 2030-02-07      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                              | CORPORATE BONDS                       | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4405.39      | 0.07%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CF INDUSTRIES INC                                                               | CORPORATE BONDS                       | CUSIP: 12527GAD5<br>LEI: 5FVKT86LAD2F40NPC183 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7280.87      | 0.12%             | 2043-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                                                                  | CORPORATE BONDS                       | CUSIP: 594918BC7<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9418.15      | 0.15%             | 2035-02-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                         | CORPORATE BONDS                       | CUSIP: 404119BU2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7870.13      | 0.13%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                                                     | CORPORATE BONDS                       | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9926.30      | 0.16%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORPUS CHRISTI HOLDINGS LLC                                            | CORPORATE BONDS                       | CUSIP: 16412XAG0<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4030.13      | 0.06%             | 2027-06-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                                | CORPORATE BONDS                       | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9541.54      | 0.15%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                                           | CORPORATE BONDS                       | CUSIP: 666807BN1<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17093.31     | 0.27%             | 2028-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                                | CORPORATE BONDS                       | CUSIP: 22822VAK7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9542.78      | 0.15%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER  AND  LIGHT CO                                                    | CORPORATE BONDS                       | CUSIP: 341081FQ5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |     14000 | PA      | $12340.22     | 0.20%             | 2048-03-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                                                     | CORPORATE BONDS                       | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7262.00      | 0.12%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES INC/OK                                                    | CORPORATE BONDS                       | CUSIP: 212015AS0<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13320.62     | 0.21%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                                                         | CORPORATE BONDS                       | CUSIP: 25389JAT3<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24226.93     | 0.39%             | 2028-07-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                                                  | CORPORATE BONDS                       | CUSIP: 00912XBF0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11592.65     | 0.19%             | 2028-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY OHIO INC                                                            | CORPORATE BONDS                       | CUSIP: 26442EAF7<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13378.07     | 0.21%             | 2029-02-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AT AND T INC                                                                    | CORPORATE BONDS                       | CUSIP: 00206RHJ4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9828.97      | 0.16%             | 2029-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                | CORPORATE BONDS                       | CUSIP: 124857AZ6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7423.89      | 0.12%             | 2029-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| HUNTSMAN INTERNATIONAL LLC                                                      | CORPORATE BONDS                       | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5626.22      | 0.09%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                                            | CORPORATE BONDS                       | CUSIP: 961214EG4<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |      4000 | PA      | $3481.76      | 0.06%             | 2039-07-24      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                                                  | CORPORATE BONDS                       | CUSIP: 00914AAE2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3539.13      | 0.06%             | 2029-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL | CORPORATE BONDS                       | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $4724.72      | 0.08%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| DH EUROPE FINANCE II SARL                                                       | CORPORATE BONDS                       | CUSIP: 23291KAH8<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |      8000 | PA      | $7180.19      | 0.12%             | 2029-11-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| S AND P GLOBAL INC                                                              | CORPORATE BONDS                       | CUSIP: 78409VAP9<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7088.80      | 0.11%             | 2029-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPERATING LLC                                               | CORPORATE BONDS                       | CUSIP: 29379VBX0<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10635.93     | 0.17%             | 2030-01-31      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                                             | CORPORATE BONDS                       | CUSIP: 03027XBA7<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     46000 | PA      | $40189.79     | 0.65%             | 2030-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                                | CORPORATE BONDS                       | CUSIP: 22822VAR2<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     11000 | PA      | $9999.15      | 0.16%             | 2030-07-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                    | CORPORATE BONDS                       | CUSIP: 11135FAQ4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5596.99      | 0.09%             | 2030-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                                                      | CORPORATE BONDS                       | CUSIP: 98978VAS2<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |     14000 | PA      | $11852.71     | 0.19%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                                                    | CORPORATE BONDS                       | CUSIP: 02079KAG2<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |     10000 | PA      | $6154.32      | 0.10%             | 2060-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| S AND P GLOBAL INC                                                              | CORPORATE BONDS                       | CUSIP: 78409VAS3<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3189.98      | 0.05%             | 2030-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                    | CORPORATE BONDS                       | CUSIP: 11135FBD2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17803.23     | 0.29%             | 2030-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP             | CORPORATE BONDS                       | CUSIP: 87612BBS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5608.95      | 0.09%             | 2031-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE INC                                                   | CORPORATE BONDS                       | CUSIP: 45866FAN4<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |     28000 | PA      | $22041.49     | 0.35%             | 2032-09-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL FLAVORS  AND  FRAGRANCES INC                                      | CORPORATE BONDS                       | CUSIP: 459506AQ4<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1657.64      | 0.03%             | 2030-11-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                                            | CORPORATE BONDS                       | CUSIP: 961214EQ2<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |      4000 | PA      | $2879.84      | 0.05%             | 2040-11-16      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| INTERPUBLIC GROUP OF COS INC/THE                                                | CORPORATE BONDS                       | CUSIP: 460690BT6<br>LEI: 5493008IUOJ5VWTRC333 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4962.41      | 0.08%             | 2031-03-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                                                                  | CORPORATE BONDS                       | CUSIP: 594918CE2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4587.61      | 0.07%             | 2052-03-17      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                     | CORPORATE BONDS                       | CUSIP: 68389XBZ7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     12000 | PA      | $9497.62      | 0.15%             | 2041-03-25      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                     | CORPORATE BONDS                       | CUSIP: 68389XCA1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     11000 | PA      | $8549.77      | 0.14%             | 2051-03-25      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                                       | CORPORATE BONDS                       | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10020.19     | 0.16%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                | CORPORATE BONDS                       | CUSIP: 87264ABN4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     32000 | PA      | $23038.70     | 0.37%             | 2051-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| AT AND T INC                                                                    | CORPORATE BONDS                       | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    137000 | PA      | $110774.42    | 1.78%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS LP                                                     | CORPORATE BONDS                       | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     18000 | PA      | $15026.94     | 0.24%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATIONAL FINANCIAL INC                                                 | CORPORATE BONDS                       | CUSIP: 31620RAL9<br>LEI: 549300CAZYIH39SYQ287 | Long             | DBT              | CORP              | US        |      8000 | PA      | $5032.86      | 0.08%             | 2051-09-17      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BOARDWALK PIPELINES LP                                                          | CORPORATE BONDS                       | CUSIP: 096630AJ7<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |      8000 | PA      | $6955.74      | 0.11%             | 2032-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                                                 | CORPORATE BONDS                       | CUSIP: 962166CA0<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              | CORP              | US        |     14000 | PA      | $12307.42     | 0.20%             | 2033-03-09      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                                                | CORPORATE BONDS                       | CUSIP: 23345MAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5511.77      | 0.09%             | 2032-04-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                    | CORPORATE BONDS                       | CUSIP: 11135FBV2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7342.90      | 0.12%             | 2037-05-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                                                                      | CORPORATE BONDS                       | CUSIP: 127055AM3<br>LEI: K05C0SER542GQ6VLRO68 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10723.16     | 0.17%             | 2032-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASTE CONNECTIONS INC                                                           | CORPORATE BONDS                       | CUSIP: 94106BAF8<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |     14000 | PA      | $13600.26     | 0.22%             | 2033-01-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                              | CORPORATE BONDS                       | CUSIP: 30303M8H8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23239.90     | 0.37%             | 2032-08-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                              | CORPORATE BONDS                       | CUSIP: 30303M8J4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26198.84     | 0.42%             | 2052-08-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                               | CORPORATE BONDS                       | CUSIP: 49456BAX9<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9964.83      | 0.16%             | 2033-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL                                                                 | FN15                                  | CUSIP: 31418DZ21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    192693 | PA      | $175583.51    | 2.82%             | 2036-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL                                                                 | FN30                                  | CUSIP: 3140XGUA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    185917 | PA      | $168994.86    | 2.71%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL                                                                 | FN30                                  | CUSIP: 31418EDE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    179489 | PA      | $168635.36    | 2.71%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL                                                                 | FN30                                  | CUSIP: 31418DYX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    418736 | PA      | $353975.17    | 5.68%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL                                                                 | FN30                                  | CUSIP: 31418EAN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    397145 | PA      | $348166.52    | 5.59%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL                                                                 | FN30                                  | CUSIP: 31418EGK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    181456 | PA      | $179309.21    | 2.88%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE I POOL                                                               | GII30                                 | CUSIP: 36179WFG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    196888 | PA      | $176340.60    | 2.83%             | 2051-05-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE I POOL                                                               | GII30                                 | CUSIP: 36179WZB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    178689 | PA      | $169312.43    | 2.72%             | 2052-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                                             | PERPETUAL BONDS                       | CUSIP: 369604BQ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9965.00      | 0.16%             | N/A             | Variable      | 8.10%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC/THE                                                     | PERPETUAL BONDS                       | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8696.00      | 0.14%             | N/A             | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| PUTNAM INVESTMENT FUNDS-PUTNAM GOVERNMENT MONEY MARKET FUND                     | SHORT TERM INV FUND                   | CUSIP: 74680A869<br>LEI: 549300SEUI2XMME8T893 | Long             | STIV             | PF                | US        |     95751 | NS      | $95751.00     | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED STATES OF AMERICA                                                        | U.S. T. BOND                          | CUSIP: 912810EW4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    750000 | PA      | $795351.56    | 12.77%            | 2026-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA                                                        | U.S. T. BOND                          | CUSIP: 912810FJ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     80000 | PA      | $91684.38     | 1.47%             | 2029-08-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA                                                        | U.S. T. BOND                          | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    450000 | PA      | $481218.75    | 7.72%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA                                                        | U.S. T. BOND                          | CUSIP: 912810TK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    160000 | PA      | $151275.00    | 2.43%             | 2042-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA                                                        | U.S. T. NOTE                          | CUSIP: 91282CED9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $285574.22    | 4.58%             | 2025-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA                                                        | U.S. T. NOTE                          | CUSIP: 91282CBS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     40000 | PA      | $35575.00     | 0.57%             | 2028-03-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA                                                        | U.S. T. NOTE                          | CUSIP: N/A<br>LEI: 254900HROIFWPRGM1V77       | Long             | DBT              | UST               | US        |    400000 | PA      | $335640.62    | 5.39%             | 2031-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE  AND  CO                                                         | VAR.RT. CORP. BONDS                   | CUSIP: 46647PAL0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5135.10      | 0.08%             | 2048-11-15      | Variable      | 3.96%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC/THE                                                     | VAR.RT. CORP. BONDS                   | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17356.70     | 0.28%             | 2029-05-01      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE  AND  CO                                                         | VAR.RT. CORP. BONDS                   | CUSIP: 48123UAB0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4740.00      | 0.08%             | 2047-05-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC/THE                                            | VAR.RT. CORP. BONDS                   | CUSIP: 693475BE4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     32000 | PA      | $30941.06     | 0.50%             | 2033-06-06      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE  AND  CO                                                         | VAR.RT. CORP. BONDS                   | CUSIP: 46647PDA1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     52000 | PA      | $50965.57     | 0.82%             | 2028-04-26      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                            | VAR.RT. CORP. BONDS                   | CUSIP: 06051GHZ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10207.50     | 0.16%             | 2031-02-13      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                            | VAR.RT. CORP. BONDS                   | CUSIP: 06051GKL2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     35000 | PA      | $30500.19     | 0.49%             | 2037-03-08      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE  AND  CO                                                         | VAR.RT. CORP. BONDS                   | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    102000 | PA      | $88490.27     | 1.42%             | 2031-05-13      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                                      | VAR.RT. CORP. BONDS                   | CUSIP: 91159HJB7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     12000 | PA      | $9589.84      | 0.15%             | 2036-11-03      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-29

**Name of Applicant:** Putnam Investments Inc

**Signature:** Janet C. Smith

**Name of Signer:** NPORT

**Title:** Principal Financial Officer