# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000869392-23-000694
**Filing Date:** 2023-3
**Character Count:** 85413
**Document Hash:** bb016450722ae79de4ef3e3ad46db42a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000694.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0000869392-23-000694

**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:** 23774601

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

------

---

| |
|:---|
| **Putnam PanAgora ESG Emerging Markets Equity ETF** |
| **The fund's portfolio** |
| **1/31/23 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS (85.6%)***<sup>(a)</sup>*** | **COMMON STOCKS (85.6%)***<sup>(a)</sup>*** | **COMMON STOCKS (85.6%)***<sup>(a)</sup>*** |
| | **Shares** | **Value** |
| **Auto components (1.3%)** | **Auto components (1.3%)** | **Auto components (1.3%)** |
| Hyundai Mobis Co., Ltd. (South Korea) | 190 | $31880 |
|  |  | **31880** |
| **Automobiles (0.5%)** | **Automobiles (0.5%)** | **Automobiles (0.5%)** |
| BYD Co., Ltd. Class H (China) | 439 | 13823 |
|  |  | **13823** |
| **Banks (15.4%)** | **Banks (15.4%)** | **Banks (15.4%)** |
| Absa Group, Ltd. (South Africa) | 2403 | 27567 |
| Abu Dhabi Commercial Bank PJSC (United Arab Emirates) | 7088 | 16019 |
| Abu Dhabi Islamic Bank PJSC (United Arab Emirates) | 3463 | 8889 |
| Banco de Chile (Chile) | 123818 | 13530 |
| Bank Central Asia Tbk PT (Indonesia) | 45300 | 25673 |
| China Construction Bank Corp. Class H (China) | 63000 | 40922 |
| China Minsheng Banking Corp., Ltd. Class H (China) | 24500 | 9161 |
| Grupo Financiero Banorte SAB de CV Class O (Mexico) | 2900 | 24025 |
| Hana Financial Group, Inc. (South Korea) | 844 | 33604 |
| ICICI Bank, Ltd. ADR (India) | 8438 | 175763 |
| Metropolitan Bank & Trust Co. (Philippines) | 4280 | 4499 |
| Santander Bank Polska SA (Poland) | 90 | 5974 |
|  |  | **385626** |
| **Beverages (3.8%)** | **Beverages (3.8%)** | **Beverages (3.8%)** |
| Ambev SA ADR (Brazil) | 14448 | 38432 |
| Arca Continental SAB de CV (Mexico) | 1500 | 13231 |
| Fomento Economico Mexicano SAB de CV ADR (Mexico) | 489 | 42934 |
|  |  | **94597** |
| **Biotechnology (1.7%)** | **Biotechnology (1.7%)** | **Biotechnology (1.7%)** |
| Celltrion, Inc. (South Korea) | 314 | 41513 |
|  |  | **41513** |
| **Capital markets (1.1%)** | **Capital markets (1.1%)** | **Capital markets (1.1%)** |
| CITIC Securities Co., Ltd. (China) | 8500 | 19509 |
| Huatai Securities Co., Ltd. (China) | 5800 | 7500 |
|  |  | **27009** |
| **Chemicals (0.3%)** | **Chemicals (0.3%)** | **Chemicals (0.3%)** |
| LG Chem, Ltd. (South Korea) | 15 | 8479 |
|  |  | **8479** |
| **Communications equipment (0.4%)** | **Communications equipment (0.4%)** | **Communications equipment (0.4%)** |
| ZTE Corp. Class H (China) | 4000 | 9673 |
|  |  | **9673** |
| **Diversified telecommunication services (3.1%)** | **Diversified telecommunication services (3.1%)** | **Diversified telecommunication services (3.1%)** |
| Emirates Telecommunications Group Co. PJSC (United Arab Emirates) | 5384 | 37706 |
| Orange Polska SA (Poland) | 1073 | 1731 |
| Telkom Indonesia Persero Tbk PT (Indonesia) | 152000 | 39335 |
|  |  | **78772** |
| **Electric utilities (1.3%)** | **Electric utilities (1.3%)** | **Electric utilities (1.3%)** |
| CEZ AS (Czech Republic) | 520 | 21125 |
| Cia Energetica de Minas Gerais (Brazil) | 5000 | 11288 |
|  |  | **32413** |
| **Electronic equipment, instruments, and components (0.3%)** | **Electronic equipment, instruments, and components (0.3%)** | **Electronic equipment, instruments, and components (0.3%)** |
| AAC Technologies Holdings, Inc. (China)***<sup>(NON)</sup>*** | 2755 | 7385 |
|  |  | **7385** |
| **Entertainment (1.7%)** | **Entertainment (1.7%)** | **Entertainment (1.7%)** |
| NetEase, Inc. ADR (China) | 278 | 24634 |
| Tencent Music Entertainment Group ADR (China)***<sup>(NON)</sup>*** | 2289 | 19205 |
|  |  | **43839** |
| **Food and staples retailing (0.4%)** | **Food and staples retailing (0.4%)** | **Food and staples retailing (0.4%)** |
| Cencosud SA (Chile) | 5222 | 9379 |
|  |  | **9379** |
| **Food products (3.4%)** | **Food products (3.4%)** | **Food products (3.4%)** |
| China Mengniu Dairy Co., Ltd. (China) | 5220 | 25130 |
| CJ CheilJedang Corp. (South Korea) | 31 | 8708 |
| Dali Foods Group Co., Ltd. (China) | 10000 | 4475 |
| Grupo Bimbo SAB de CV Class A (Mexico) | 4200 | 20852 |
| Nestle Malaysia Bhd (Malaysia) | 247 | 7820 |
| PPB Group Bhd (Malaysia) | 2300 | 9495 |
| Universal Robina Corp. (Philippines) | 3240 | 8184 |
|  |  | **84664** |
| **Gas utilities (1.5%)** | **Gas utilities (1.5%)** | **Gas utilities (1.5%)** |
| ENN Energy Holdings, Ltd. (China) | 2430 | 36567 |
| Korea Gas Corp. (South Korea) | 63 | 1714 |
|  |  | **38281** |
| **Health-care equipment and supplies (0.2%)** | **Health-care equipment and supplies (0.2%)** | **Health-care equipment and supplies (0.2%)** |
| SD Biosensor, Inc. (South Korea) | 179 | 4186 |
|  |  | **4186** |
| **Health-care providers and services (0.7%)** | **Health-care providers and services (0.7%)** | **Health-care providers and services (0.7%)** |
| Bangkok Dusit Medical Services PCL (Thailand) | 8500 | 7677 |
| Sinopharm Group Co., Ltd. Class H (China) | 4400 | 10785 |
|  |  | **18462** |
| **Hotels, restaurants, and leisure (1.6%)** | **Hotels, restaurants, and leisure (1.6%)** | **Hotels, restaurants, and leisure (1.6%)** |
| Trip.com Group, Ltd. ADR (China)***<sup>(NON)</sup>*** | 342 | 12572 |
| Yum China Holdings, Inc. (China) | 434 | 26739 |
|  |  | **39311** |
| **Industrial conglomerates (1.0%)** | **Industrial conglomerates (1.0%)** | **Industrial conglomerates (1.0%)** |
| Samsung C&T Corp. (South Korea) | 263 | 25460 |
|  |  | **25460** |
| **Insurance (5.6%)** | **Insurance (5.6%)** | **Insurance (5.6%)** |
| BB Seguridade Participacoes SA (Brazil) | 1800 | 13396 |
| China Life Insurance Co., Ltd. Class H (China) | 18540 | 34047 |
| China Pacific Insurance Group Co., Ltd. Class H (China) | 4600 | 12682 |
| People's Insurance Co. Group of China, Ltd. (The) (China) | 26000 | 8757 |
| Ping An Insurance Group Co. of China, Ltd. Class H (China) | 7302 | 56996 |
| Samsung Fire & Marine Insurance Co., Ltd. (South Korea) | 84 | 13876 |
|  |  | **139754** |
| **Interactive media and services (5.3%)** | **Interactive media and services (5.3%)** | **Interactive media and services (5.3%)** |
| Baidu, Inc. ADR (China)***<sup>(NON)</sup>*** | 59 | 7946 |
| Tencent Holdings, Ltd. (China) | 2588 | 126140 |
|  |  | **134086** |
| **Internet and direct marketing retail (8.2%)** | **Internet and direct marketing retail (8.2%)** | **Internet and direct marketing retail (8.2%)** |
| Alibaba Group Holding, Ltd. ADR (China)***<sup>(NON)</sup>*** | 902 | 99400 |
| JD.com, Inc. ADR (China) | 402 | 23931 |
| Meituan Class B (China)***<sup>(NON)</sup>*** | 1600 | 35646 |
| Naspers, Ltd. Class N (South Africa) | 88 | 17001 |
| Pinduoduo, Inc. ADR (China)***<sup>(NON)</sup>*** | 261 | 25573 |
| Vipshop Holdings, Ltd. ADR (China)***<sup>(NON)</sup>*** | 336 | 5198 |
|  |  | **206749** |
| **IT Services (4.7%)** | **IT Services (4.7%)** | **IT Services (4.7%)** |
| Infosys, Ltd. ADR (India) | 5697 | 107104 |
| Samsung SDS Co., Ltd. (South Korea) | 119 | 12143 |
|  |  | **119247** |
| **Life sciences tools and services (1.2%)** | **Life sciences tools and services (1.2%)** | **Life sciences tools and services (1.2%)** |
| Samsung Biologics Co., Ltd. (South Korea)***<sup>(NON)</sup>*** | 27 | 17470 |
| Wuxi Biologics Cayman, Inc. (China)***<sup>(NON)</sup>*** | 1399 | 11646 |
|  |  | **29116** |
| **Machinery (0.7%)** | **Machinery (0.7%)** | **Machinery (0.7%)** |
| Doosan Bobcat, Inc. (South Korea) | 206 | 5858 |
| Weichai Power Co., Ltd. Class H (China) | 8371 | 12678 |
|  |  | **18536** |
| **Metals and mining (5.2%)** | **Metals and mining (5.2%)** | **Metals and mining (5.2%)** |
| Anglo American Platinum, Ltd. (South Africa) | 177 | 13164 |
| Gold Fields, Ltd. ADR (South Africa) | 2832 | 32398 |
| Grupo Mexico SAB de CV Class B (Mexico) | 2900 | 12898 |
| Impala Platinum Holdings, Ltd. (South Africa) | 959 | 11127 |
| Vale SA ADR (Brazil) | 2467 | 46084 |
| Zijin Mining Group Co., Ltd. Class H (China) | 9607 | 15887 |
|  |  | **131558** |
| **Oil, gas, and consumable fuels (1.4%)** | **Oil, gas, and consumable fuels (1.4%)** | **Oil, gas, and consumable fuels (1.4%)** |
| China Petroleum & Chemical Corp. (China) | 46000 | 24878 |
| Empresas Copec SA (Chile) | 1374 | 10363 |
|  |  | **35241** |
| **Paper and forest products (0.2%)** | **Paper and forest products (0.2%)** | **Paper and forest products (0.2%)** |
| Nine Dragons Paper Holdings, Ltd. (China) | 6000 | 5395 |
|  |  | **5395** |
| **Pharmaceuticals (2.2%)** | **Pharmaceuticals (2.2%)** | **Pharmaceuticals (2.2%)** |
| China Medical System Holdings, Ltd. (China) | 5000 | 8660 |
| Dr. Reddy's Laboratories, Ltd. ADR (India) | 644 | 34647 |
| HUTCHMED China, Ltd. (China)***<sup>(NON)</sup>*** | 368 | 1360 |
| Kalbe Farma Tbk PT (Indonesia) | 74600 | 10265 |
|  |  | **54932** |
| **Real estate management and development (1.8%)** | **Real estate management and development (1.8%)** | **Real estate management and development (1.8%)** |
| China Resources Land, Ltd. (China) | 2472 | 11853 |
| Country Garden Services Holdings Co., Ltd. (China) | 4820 | 13044 |
| Land & Houses PCL (Thailand) | 30500 | 9162 |
| NEPI Rockcastle NV (Netherlands) | 1613 | 10013 |
|  |  | **44072** |
| **Semiconductors and semiconductor equipment (1.1%)** | **Semiconductors and semiconductor equipment (1.1%)** | **Semiconductors and semiconductor equipment (1.1%)** |
| SK Hynix, Inc. (South Korea) | 393 | 28603 |
|  |  | **28603** |
| **Specialty retail (1.7%)** | **Specialty retail (1.7%)** | **Specialty retail (1.7%)** |
| Abu Dhabi National Oil Co. for Distribution PJSC (United Arab Emirates) | 5447 | 6525 |
| Chow Tai Fook Jewellery Group, Ltd. (Hong Kong) | 6600 | 14143 |
| Home Product Center PCL (Thailand) | 21300 | 9266 |
| Lojas Renner SA (Brazil) | 3300 | 14061 |
|  |  | **43995** |
| **Technology hardware, storage, and peripherals (5.5%)** | **Technology hardware, storage, and peripherals (5.5%)** | **Technology hardware, storage, and peripherals (5.5%)** |
| Lenovo Group, Ltd. (China) | 23065 | 18556 |
| Samsung Electronics Co., Ltd. (South Korea) | 2159 | 107915 |
| Xiaomi Corp. Class B (China)***<sup>(NON)</sup>*** | 6800 | 11185 |
|  |  | **137656** |
| **Trading companies and distributors (0.2%)** | **Trading companies and distributors (0.2%)** | **Trading companies and distributors (0.2%)** |
| BOC Aviation, Ltd. (China) | 700 | 5812 |
|  |  | **5812** |
| **Transportation infrastructure (0.5%)** | **Transportation infrastructure (0.5%)** | **Transportation infrastructure (0.5%)** |
| CCR SA (Brazil) | 3400 | 7877 |
| Jiangsu Expressway Co., Ltd. Class H (China) | 4944 | 4874 |
|  |  | **12751** |
| **Wireless telecommunication services (0.4%)** | **Wireless telecommunication services (0.4%)** | **Wireless telecommunication services (0.4%)** |
| SK Telecom Co., Ltd. (South Korea) | 46 | 1744 |
| TIM SA (Brazil) (Brazil) | 3400 | 7897 |
|  |  | **9641** |
| **Total common stocks (cost $2,158,587)** |  | **$2151896** |

---

------

---

| | | |
|:---|:---|:---|
| **INVESTMENT COMPANIES (14.1%)***<sup>(a)</sup>*** | **INVESTMENT COMPANIES (14.1%)***<sup>(a)</sup>*** | **INVESTMENT COMPANIES (14.1%)***<sup>(a)</sup>*** |
| | **Shares** | **Value** |
| Franklin FTSE Taiwan ETF | 9772 | $355408 |
| **Total investment companies (cost $348,107)** |  | **$355408** |

---

------

---

| | | |
|:---|:---|:---|
| **UNITS (0.1%)***<sup>(a)</sup>*** | **UNITS (0.1%)***<sup>(a)</sup>*** | **UNITS (0.1%)***<sup>(a)</sup>*** |
| | **Units** | **Value** |
| Digital Telecommunications Infrastructure Fund (Thailand) | 4400 | $1799 |
| **Total units (cost $1,828)** |  | **$1799** |

---

------

---

| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENTS (1.0%)***<sup>(a)</sup>*** | **SHORT-TERM INVESTMENTS (1.0%)***<sup>(a)</sup>*** | **SHORT-TERM INVESTMENTS (1.0%)***<sup>(a)</sup>*** |
| | **Shares** | **Value** |
| Putnam Government Money Market Fund Class P 3.93%***<sup>(AFF)</sup>*** | 23975 | $23975 |
| **Total short-term investments (cost $23,975)** |  | **$23975** |
| **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** |
| **Total investments (cost $2,532,497)** |  | **$2533078** |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | ***Key to holding's abbreviations*** | ***Key to holding's abbreviations*** | ***Key to holding's abbreviations*** | ***Key to holding's abbreviations*** | ***Key to holding's abbreviations*** | ***Key to holding's abbreviations*** |
| ADR | American Depository Receipts: Represents ownership of foreign securities on deposit with a custodian bank. | American Depository Receipts: Represents ownership of foreign securities on deposit with a custodian bank. | American Depository Receipts: Represents ownership of foreign securities on deposit with a custodian bank. | American Depository Receipts: Represents ownership of foreign securities on deposit with a custodian bank. | American Depository Receipts: Represents ownership of foreign securities on deposit with a custodian bank. | American Depository Receipts: Represents ownership of foreign securities on deposit with a custodian bank. |
| ETF | Exchange Traded Fund | Exchange Traded Fund | Exchange Traded Fund | Exchange Traded Fund | Exchange Traded Fund | Exchange Traded Fund |
| PJSC | Public Joint Stock Company | Public Joint Stock Company | Public Joint Stock Company | Public Joint Stock Company | Public Joint Stock Company | Public Joint Stock Company |
|  | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **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. | 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. | 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 $2,514,521. | Percentages indicated are based on net assets of $2,514,521. | Percentages indicated are based on net assets of $2,514,521. | Percentages indicated are based on net assets of $2,514,521. | Percentages indicated are based on net assets of $2,514,521. | Percentages indicated are based on net assets of $2,514,521. |
| ***<sup>(NON)</sup>*** | This security is non-income-producing. | This security is non-income-producing. | This security is non-income-producing. | This security is non-income-producing. | This security is non-income-producing. | This security is non-income-producing. |
| ***<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: | 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: | 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** | **Fair value<br>as of<br>1/19/23 (commencement of operations)** | **Purchase<br>cost** | **Sale<br>proceeds** | **Investment<br>income** | **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\* | $— | $519861 | $495886 | $5 | $23975 |
|  | **Total Short-term investments** | **$—** | **$519861** | **$495886** | **$5** | **$23975** |
|  | \* 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. | \* 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. | \* 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. |
|  | **DIVERSIFICATION BY COUNTRY** |  |  |  |  |  |
|  | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): |
|  | China | 33.6% |  |  |  |  |
|  | United States | 15.0 |  |  |  |  |
|  | South Korea | 13.5 |  |  |  |  |
|  | India | 12.5 |  |  |  |  |
|  | Brazil | 5.5 |  |  |  |  |
|  | Mexico | 4.5 |  |  |  |  |
|  | South Africa | 4.0 |  |  |  |  |
|  | Indonesia | 3.0 |  |  |  |  |
|  | United Arab Emirates | 2.7 |  |  |  |  |
|  | Chile | 1.3 |  |  |  |  |
|  | Thailand | 1.1 |  |  |  |  |
|  | Czech Republic | 0.8 |  |  |  |  |
|  | Malaysia | 0.7 |  |  |  |  |
|  | Hong Kong | 0.6 |  |  |  |  |
|  | Philippines | 0.5 |  |  |  |  |
|  | Other | 0.7 |  |  |  |  |
|  | **Total** | **100.0%** |  |  |  |  |
|  | **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. | **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. | **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. |
|  | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. Short-term securities with remaining maturities of 60 days or less are valued using an independent pricing service approved by the Trustees, and are classified as Level 2 securities. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. Short-term securities with remaining maturities of 60 days or less are valued using an independent pricing service approved by the Trustees, and are classified as Level 2 securities. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. Short-term securities with remaining maturities of 60 days or less are valued using an independent pricing service approved by the Trustees, and are classified as Level 2 securities. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. Short-term securities with remaining maturities of 60 days or less are valued using an independent pricing service approved by the Trustees, and are classified as Level 2 securities. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. Short-term securities with remaining maturities of 60 days or less are valued using an independent pricing service approved by the Trustees, and are classified as Level 2 securities. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. Short-term securities with remaining maturities of 60 days or less are valued using an independent pricing service approved by the Trustees, and are classified as Level 2 securities. |
|  | 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. | 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. | 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 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 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. 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. 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. 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. 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. 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. 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. |

---

------

---

| | | | |
|:---|:---|:---|:---|
| 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** |
| **Common stocks\*:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;$59682 | &nbsp;&nbsp;&nbsp;&nbsp;$206656 | &nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;207474 | &nbsp;&nbsp;&nbsp;&nbsp;128284 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;124828 | &nbsp;&nbsp;&nbsp;&nbsp;63812 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;10363 | &nbsp;&nbsp;&nbsp;&nbsp;24878 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;226714 | &nbsp;&nbsp;&nbsp;&nbsp;325675 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;34647 | &nbsp;&nbsp;&nbsp;&nbsp;113562 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;7877 | &nbsp;&nbsp;&nbsp;&nbsp;54682 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;107104 | &nbsp;&nbsp;&nbsp;&nbsp;195460 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;91380 | &nbsp;&nbsp;&nbsp;&nbsp;54052 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;44072 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;11288 | &nbsp;&nbsp;&nbsp;&nbsp;59406 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total common stocks** | **881357** | **1270539** | **—** |
| Investment companies | 355408 |  |  |
| Units | 1799 |  |  |
| Short-term investments | 23975 |  |  |
| **Totals by level** | **$1262539** | **$1270539** | **$—** |
| \* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. | \* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. | \* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. | \* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. |
| 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 Panagora ESG Emerging Markets Equity ETF

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

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

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

- **a. Date of fiscal year-end:** 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:** $3027399.37

**Total Liabilities:** $512877.93

**Net Assets:** $2514521.44

**Cash Not Reported:** $772447.50

**Monthly Return Information**

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

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-531.96                 | $691.40                                    |
| 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| YUM CHINA HOLDINGS INC                                      | COMMON STOCK              | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | CN        |       434 | NS      | $26738.74     | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AMBEV SA                                                    | COMMON STOCK - ADR        | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |     14448 | NS      | $38431.68     | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| NETEASE INC                                                 | COMMON STOCK - ADR        | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | CN        |       278 | NS      | $24633.58     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIP.COM GROUP LTD                                          | COMMON STOCK - ADR        | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | CN        |       342 | NS      | $12571.92     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| VALE SA                                                     | COMMON STOCK - ADR        | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |      2467 | NS      | $46083.56     | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| VIPSHOP HOLDINGS LTD                                        | COMMON STOCK - ADR        | CUSIP: 92763W103<br>LEI: 549300I9F52K06HPZX60 | Long             | EC               | CORP              | CN        |       336 | NS      | $5197.92      | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.COM INC                                                  | COMMON STOCK - ADR        | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | CN        |       402 | NS      | $23931.06     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                                   | COMMON STOCK - ADR        | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | CN        |       902 | NS      | $99400.40     | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD HOLDINGS INC                                            | COMMON STOCK - ADR        | CUSIP: N/A<br>LEI: 5493000573DS7005T657       | Long             | EC               | CORP              | CN        |       261 | NS      | $25572.78     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT MUSIC ENTERTAINMENT GROUP                           | COMMON STOCK - ADR        | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | CN        |      2289 | NS      | $19204.71     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BAIDU INC                                                   | COMMON STOCK - ADR        | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | CN        |        59 | NS      | $7946.12      | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FOMENTO ECONOMICO MEXICANO SAB DE CV                        | COMMON STOCK - ADR        | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |       489 | NS      | $42934.20     | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI BANK LTD                                              | COMMON STOCK - ADR        | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      8438 | NS      | $175763.54    | 6.99%             |  |  |  | No            |                  1 | On Loan: No      |
| DR REDDY'S LABORATORIES LTD                                 | COMMON STOCK - ADR        | CUSIP: 256135203<br>LEI: 335800OVDPY3DVZR2798 | Long             | EC               | CORP              | IN        |       644 | NS      | $34647.20     | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLD FIELDS LTD                                             | COMMON STOCK - ADR        | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      2832 | NS      | $32398.08     | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| INFOSYS LTD                                                 | COMMON STOCK - ADR        | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |      5697 | NS      | $107103.60    | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN FTSE TAIWAN ETF                                    | EXCHANGE TRADED FUND      | CUSIP: 35473P686<br>LEI: 549300PAHV2U19VENT44 | Long             | EC               | RF                | US        |      9772 | NS      | $355407.64    | 14.13%            |  |  |  | No            |                  1 | On Loan: No      |
| LAND  AND  HOUSES PCL                                       | GLOBAL DEPOSITORY RECEIPT | CUSIP: N/A<br>LEI: 529900O7AEACUWP7KS87       | Long             | EC               | CORP              | TH        |     30500 | NS      | $9162.10      | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| BANGKOK DUSIT MEDICAL SERVICES PCL                          | GLOBAL DEPOSITORY RECEIPT | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |      8500 | NS      | $7677.43      | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| HOME PRODUCT CENTER PCL                                     | GLOBAL DEPOSITORY RECEIPT | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |     21300 | NS      | $9265.97      | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| CEZ AS                                                      | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900S5R9YHJHYKKG94       | Long             | EC               | CORP              | CZ        |       520 | NS      | $21124.85     | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| CJ CHEILJEDANG CORP                                         | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 9884008938PK154I3A92       | Long             | EC               | CORP              | KR        |        31 | NS      | $8707.89      | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| CELLTRION INC                                               | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       314 | NS      | $41512.70     | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| SINOPHARM GROUP CO                                          | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900N54X78YH9JYK92       | Long             | EC               | CORP              | CN        |      4400 | NS      | $10785.03     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA MINSHENG BANKING CORP LTD                             | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300HBUGSQD1VCXG94       | Long             | EC               | CORP              | CN        |     24500 | NS      | $9160.95      | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA PACIFIC INSURANCE GROUP CO LTD                        | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900BA5ILEL308WX03       | Long             | EC               | CORP              | CN        |      4600 | NS      | $12682.27     | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA MEDICAL SYSTEM HOLDINGS LTD                           | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900Z57DVJXUBLHX66       | Long             | EC               | CORP              | CN        |      5000 | NS      | $8660.07      | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIC SECURITIES CO                                         | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 300300E1006744000068       | Long             | EC               | CORP              | CN        |      8500 | NS      | $19509.40     | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| CHOW TAI FOOK JEWELLERY GROUP LTD                           | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 254900VXRL7SRSF44G79       | Long             | EC               | CORP              | HK        |      6600 | NS      | $14143.02     | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| BB SEGURIDADE PARTICIPACOES SA                              | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      1800 | NS      | $13396.37     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG SDS CO LTD                                          | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       119 | NS      | $12143.26     | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMSUNG C AND T CORP                                        | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 988400GFRE4IDFPE9E64       | Long             | EC               | CORP              | KR        |       263 | NS      | $25460.25     | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HUATAI SECURITIES CO LTD                                    | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 3003009ABT0UCWO79Q77       | Long             | EC               | CORP              | CN        |      5800 | NS      | $7500.20      | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| DALI FOODS GROUP CO LTD                                     | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 52990093PPQC644N7T38       | Long             | EC               | CORP              | CN        |     10000 | NS      | $4474.77      | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BOC AVIATION LTD                                            | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 254900H06V5RMEB3KE72       | Long             | EC               | CORP              | SG        |       700 | NS      | $5811.53      | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMSUNG BIOLOGICS CO LTD                                    | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |        27 | NS      | $17469.55     | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| DOOSAN BOBCAT INC                                           | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 9884007K6X0Q0112FX44       | Long             | EC               | CORP              | KR        |       206 | NS      | $5857.77      | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| WUXI BIOLOGICS CAYMAN INC                                   | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 5493001TD2TH6VDTJU11       | Long             | EC               | CORP              | CN        |      1399 | NS      | $11645.88     | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| NEPI ROCKCASTLE NV                                          | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300FMWM53K9ULYT15       | Long             | EC               | CORP              | NL        |      1613 | NS      | $10013.31     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| ABU DHABI NATIONAL OIL CO FOR DISTRIBUTION PJSC             | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 213800YI1ZIOJB3HLB11       | Long             | EC               | CORP              | AE        |      5447 | NS      | $6524.83      | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN SERVICES HOLDINGS CO LTD                     | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300P2JRKENZSEBB42       | Long             | EC               | CORP              | CN        |      4820 | NS      | $13043.61     | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| XIAOMI CORP                                                 | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 2549001ACVFAZRNMKL32       | Long             | EC               | CORP              | CN        |      6800 | NS      | $11185.48     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| MEITUAN                                                     | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | CN        |      1600 | NS      | $35645.92     | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| SD BIOSENSOR INC                                            | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       179 | NS      | $4185.57      | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| IMPALA PLATINUM HOLDINGS LTD                                | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 254900BZFIFB4PD2Z778       | Long             | EC               | CORP              | ZA        |       959 | NS      | $11127.17     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| ABSA GROUP LTD                                              | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 2138006IPPRD4N6XLT30       | Long             | EC               | CORP              | ZA        |      2403 | NS      | $27567.10     | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA RESOURCES LAND LTD                                    | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 5299001HL0TU7X15HK51       | Long             | EC               | CORP              | HK        |      2472 | NS      | $11853.33     | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| NESTLE MALAYSIA BHD                                         | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |       247 | NS      | $7820.17      | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMSUNG FIRE  AND  MARINE INSURANCE CO LTD                  | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 988400JMBDK47EW0Z936       | Long             | EC               | CORP              | KR        |        84 | NS      | $13875.55     | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| METROPOLITAN BANK  AND  TRUST CO                            | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300SQYI82RVWFN715       | Long             | EC               | CORP              | PH        |      4280 | NS      | $4499.21      | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN PLATINUM LTD                                 | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900RORCZ0E5S5FX81       | Long             | EC               | CORP              | ZA        |       177 | NS      | $13163.51     | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| LENOVO GROUP LTD                                            | ORDINARY SHARES           | CUSIP: Y5257Y107<br>LEI: 254900VUZRGD5U73RE46 | Long             | EC               | CORP              | CN        |     23065 | NS      | $18556.34     | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| NASPERS LTD                                                 | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 21380044BQ8812EEKT59       | Long             | EC               | CORP              | ZA        |        88 | NS      | $17001.21     | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD                                  | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |      2159 | NS      | $107915.24    | 4.29%             |  |  |  | No            |                  2 | On Loan: No      |
| ORANGE POLSKA SA                                            | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 259400TOMPUOLS65II22       | Long             | EC               | CORP              | PL        |      1073 | NS      | $1731.28      | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| TELKOM INDONESIA PERSERO TBK PT                             | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900M5SQZAOKV1PC81       | Long             | EC               | CORP              | ID        |    152000 | NS      | $39335.00     | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| CIA ENERGETICA DE MINAS GERAIS                              | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 254900W703PXLDSEM056       | Long             | EC               | CORP              | BR        |      5000 | NS      | $11287.75     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| KALBE FARMA TBK PT                                          | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900PRQI8S32HOE387       | Long             | EC               | CORP              | ID        |     74600 | NS      | $10264.55     | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| HYUNDAI MOBIS                                               | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 988400HJA9E0ZVDHRS65       | Long             | EC               | CORP              | KR        |       190 | NS      | $31880.28     | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| JIANGSU EXPRESSWAY CO LTD                                   | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900UWWTWZ6AKLYD43       | Long             | EC               | CORP              | CN        |      4944 | NS      | $4873.84      | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| SK HYNIX INC                                                | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |       393 | NS      | $28602.80     | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| GRUPO MEXICO SAB DE CV                                      | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900JWLZAYET2ZGW20       | Long             | EC               | CORP              | MX        |      2900 | NS      | $12897.96     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SK TELECOM CO LTD                                           | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 9884003WEA1PHW006037       | Long             | EC               | CORP              | KR        |        46 | NS      | $1744.31      | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO DE CHILE                                              | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 8B4EZFY8IHJC44TT2K84       | Long             | EC               | CORP              | CL        |    123818 | NS      | $13530.24     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| EMPRESAS COPEC SA                                           | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300Q3IDJYG6Z7PA50       | Long             | EC               | CORP              | CL        |      1374 | NS      | $10363.40     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TIM PARTICIPACOES SA-ADR                                    | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900UXXIJCZN232R31       | Long             | EC               | CORP              | BR        |      3400 | NS      | $7896.70      | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| GRUPO BIMBO SAB DE CV                                       | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 5493000RIXURZEBFEV60       | Long             | EC               | CORP              | MX        |      4200 | NS      | $20852.23     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| GRUPO FINANCIERO BANORTE SAB DE CV                          | ORDINARY SHARES           | CUSIP: P49501201<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |      2900 | NS      | $24024.85     | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| KOREA GAS CORP                                              | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 988400TFZILHBD5M3R71       | Long             | EC               | CORP              | KR        |        63 | NS      | $1713.54      | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA PETROLEUM  AND  CHEMICAL CORP                         | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900A2OB24EZ5B3J19       | Long             | EC               | CORP              | CN        |     46000 | NS      | $24878.05     | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| ENN ENERGY HOLDINGS LTD                                     | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300V7BXPWT6WIPR03       | Long             | EC               | CORP              | CN        |      2430 | NS      | $36567.48     | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| LG CHEM LTD                                                 | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 988400IES4EIG7O06940       | Long             | EC               | CORP              | KR        |        15 | NS      | $8478.92      | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK CENTRAL ASIA TBK PT                                    | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |     45300 | NS      | $25673.12     | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PPB GROUP BHD                                               | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |      2300 | NS      | $9495.04      | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| UNIVERSAL ROBINA CORP                                       | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | PH        |      3240 | NS      | $8184.08      | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| SANTANDER BANK POLSKA SA                                    | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 259400LGXW3K0GDAG361       | Long             | EC               | CORP              | PL        |        90 | NS      | $5974.23      | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| EMBOTELLADORAS ARCA SA DE CV                                | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 254900U2BSJCQHJCXN24       | Long             | EC               | CORP              | MX        |      1500 | NS      | $13231.19     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD CO LTD                                                  | ORDINARY SHARES           | CUSIP: Y1023R104<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |       439 | NS      | $13823.11     | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| PEOPLE'S INSURANCE CO GROUP OF CHINA LTD/THE                | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 3003000P2JHYHQ524P66       | Long             | EC               | CORP              | CN        |     26000 | NS      | $8756.71      | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA LIFE INSURANCE CO LTD                                 | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300J6TFLDXGH6S048       | Long             | EC               | CORP              | CN        |     18540 | NS      | $34046.81     | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| CCR SA                                                      | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      3400 | NS      | $7876.60      | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIJIN MINING GROUP CO LTD                                   | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | CN        |      9607 | NS      | $15887.00     | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| WEICHAI POWER CO LTD                                        | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900OKTPKBG85F9502       | Long             | EC               | CORP              | CN        |      8371 | NS      | $12678.10     | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| CENCOSUD SA                                                 | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300NLTGCFV7482429       | Long             | EC               | CORP              | CL        |      5222 | NS      | $9379.40      | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA MENGNIU DAIRY CO LTD                                  | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 2549005Q343BSJ8RSS21       | Long             | EC               | CORP              | HK        |      5220 | NS      | $25130.00     | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TENCENT HOLDINGS LTD                                        | ORDINARY SHARES           | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |      2588 | NS      | $126140.31    | 5.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PING AN INSURANCE GROUP CO OF CHINA LTD                     | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | CN        |      7302 | NS      | $56996.12     | 2.27%             |  |  |  | No            |                  2 | On Loan: No      |
| ZTE CORP                                                    | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 3003004FBGVVG1CW5U45       | Long             | EC               | CORP              | CN        |      4000 | NS      | $9673.18      | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| LOJAS RENNER SA                                             | ORDINARY SHARES           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      3300 | NS      | $14061.23     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AAC TECHNOLOGIES HOLDINGS INC                               | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 549300SKEDE1VKS0A552       | Long             | EC               | CORP              | CN        |      2755 | NS      | $7385.35      | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA CONSTRUCTION BANK CORP                                | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |     63000 | NS      | $40922.17     | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| HANA FINANCIAL GROUP INC                                    | ORDINARY SHARES           | CUSIP: Y29975102<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       844 | NS      | $33603.79     | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| EMIRATES TELECOMMUNICATIONS GROUP CO PJSC                   | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900XDPQPWEQ9BGB80       | Long             | EC               | CORP              | AE        |      5384 | NS      | $37705.62     | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ABU DHABI COMMERCIAL BANK PJSC                              | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 213800RWVKKIRX1AUH58       | Long             | EC               | CORP              | AE        |      7088 | NS      | $16018.65     | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| ABU DHABI ISLAMIC BANK PJSC                                 | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 5493006DOLY8O98XHD74       | Long             | EC               | CORP              | AE        |      3463 | NS      | $8888.73      | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| NINE DRAGONS PAPER HOLDINGS LTD                             | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 529900TBMYEYJ2LEV906       | Long             | EC               | CORP              | HK        |      6000 | NS      | $5394.86      | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| HUTCHMED CHINA LTD                                          | ORDINARY SHARES           | CUSIP: N/A<br>LEI: 2138006X34YDQ6OBYE79       | Long             | EC               | CORP              | HK        |       368 | NS      | $1359.52      | 0.05%             |  |  |  | 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        |     23975 | NS      | $23975.00     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL TELECOMMUNICATIONS INFRASTRUCTURE FUND              | STOCK UNIT                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |      4400 | OU      | $1799.45      | 0.07%             |  |  |  | No            |                  1 | 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