# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000940400-26-002788
**Filing Date:** 2026-1
**Character Count:** 65671
**Document Hash:** 513d4ec294e8331a1fb740eb27854451
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-002788.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0000940400-26-002788

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260531

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23643
- **FILM NUMBER:** 26566667

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

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

## Series and Classes Contracts Data

### Franklin Massachusetts Municipal Income ETF (Series ID: S000094555)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000263088 | Franklin Massachusetts Municipal Income ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** Franklin Massachusetts Municipal Income ETF

- **b. EDGAR series identifier (if any):** S000094555

- **c. LEI of Series:** 254900FXCQE95J4X7E76

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $242104493.40

**Total Liabilities:** $242041.42

**Net Assets:** $241862451.98

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 281.51366000 | **1-Year:** 5653.97927000 | **5-Year:** 26631.29863000 | **10-Year:** 109500.60560000 | **30-Year:** 4710.40161000

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

- **3-Month:** 0.00000000 | **1-Year:** 157.23772000 | **5-Year:** 1779.27945000 | **10-Year:** 6434.48340000 | **30-Year:** 308.93385000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000263088 | 2.57%                | 1.11%                | 0.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $5684036.31                                |
| Month 2  | $-286767.04              | $2426300.83                                |
| Month 3  | $49748.03                | $259691.29                                 |

**Designated Index Information**

- **Index Name:** BTMNTR Index

- **Index Identifier:** BM10506

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YN39<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1189148.70   | 0.49%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y2U2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    465000 | PA      | $474802.99    | 0.20%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57583RJG1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1151054.85   | 0.48%             | 2033-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YR84<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016831.00   | 0.42%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOWELL MA COLLEGIATE CHRT SCH       | Collegiate Charter School of Lowell                           | CUSIP: 547649AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1514031.10   | 0.63%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YTE9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $530079.35    | 0.22%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BNZ7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2402435.48   | 0.99%             | 2045-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| QUINCY MA                           | City of Quincy MA                                             | CUSIP: 748508L30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $332030.17    | 0.14%             | 2040-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XWV9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2506274.25   | 1.04%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                    | Commonwealth of Massachusetts                                 | CUSIP: 57582R5R3<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5216152.50   | 2.16%             | 2054-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY        | Massachusetts Housing Finance Agency                          | CUSIP: 57586N6R7<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   5625000 | PA      | $4191985.13   | 1.73%             | 2059-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57583UN53<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001287.50   | 0.41%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT                           | Territory of Guam                                             | CUSIP: 40065BCQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $808123.82    | 0.33%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YGH6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    660000 | PA      | $694455.37    | 0.29%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BMD7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $530762.65    | 0.22%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YDB2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    835000 | PA      | $843213.48    | 0.35%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV FIN AGY NATI      | Massachusetts Development Finance Agency                      | CUSIP: 57563UAB8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1170490.09   | 0.48%             | 2051-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY        | Massachusetts Development Finance Agency                      | CUSIP: 57583FZE4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5858793.00   | 2.42%             | 2042-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UNIV OF MASSACHUSETTS MA BLDGA      | University of Massachusetts Building Authority                | CUSIP: 914440SA1<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1107243.49   | 0.46%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y7Y9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030459.00   | 0.43%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57583U5H7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    450000 | PA      | $450530.78    | 0.19%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FUND SPL PURPOSE SECU      | Matching Fund Special Purpose Securitization Corp             | CUSIP: 57665NAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $668170.11    | 0.28%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BJF6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    750000 | PA      | $773297.93    | 0.32%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST TRANSPRTN FUN      | Commonwealth of Massachusetts Transportation Fund Revenue     | CUSIP: 57604THG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2130880.23   | 0.88%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y4S5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2205000 | PA      | $2230954.17   | 0.92%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YT90<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014803.40   | 0.42%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MASSACHUSETTS MA BLDGA      | University of Massachusetts Building Authority                | CUSIP: 914440QM7<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |    885000 | PA      | $885805.88    | 0.37%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YDJ5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1129658.66   | 0.47%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YG86<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    350000 | PA      | $370456.63    | 0.15%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YRF8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255365.65    | 0.11%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BGQ5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2664819.75   | 1.10%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YWH8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    525000 | PA      | $529454.21    | 0.22%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH      | Massachusetts School Building Authority                       | CUSIP: 576000WX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1068724.75   | 0.44%             | 2044-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584X3D1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026860.00   | 0.42%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                    | Commonwealth of Massachusetts                                 | CUSIP: 57582RY59<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2073715.60   | 0.86%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REVENUE         | Port Authority of Guam                                        | CUSIP: 400652AF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $414627.40    | 0.17%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH          | Massachusetts Port Authority                                  | CUSIP: 575896YN9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1304624.04   | 0.54%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BKZ0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1521793.59   | 0.63%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST EDUCTNL FING       | Massachusetts Educational Financing Authority                 | CUSIP: 57563RLR8<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2758064.38   | 1.14%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012426.80   | 0.83%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XU74<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1583930.14   | 0.65%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57583RXM2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1830472.00   | 0.76%             | 2029-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BLC0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1705496.80   | 0.71%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YN62<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    450000 | PA      | $400902.80    | 0.17%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROCKTON MA                         | City of Brockton MA                                           | CUSIP: 111746KW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1899784.69   | 0.79%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Putnam Government Money Market Fund | Putnam Government Money Market Fund                           | CUSIP: 74680A869<br>LEI: 549300SEUI2XMME8T893 | Long             | STIV             | RF                | US        |   5362091 | NS      | $5362091.05   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST TRANSPRTN FUN      | Commonwealth of Massachusetts Transportation Fund Revenue     | CUSIP: 57604TKC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $4017210.60   | 1.66%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YH28<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007723.40   | 0.83%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XEH0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000401.60   | 0.83%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y6H7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1570048.55   | 0.65%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH READING MA                    | Town of North Reading MA                                      | CUSIP: 661802WH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3756560.63   | 1.55%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YTC3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    665000 | PA      | $708698.48    | 0.29%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST BAY TRANSPRTN      | Massachusetts Bay Transportation Authority Sales Tax Revenue  | CUSIP: 5755792J5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2689068.75   | 1.11%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BMV7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048065.90   | 0.43%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YG94<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1642425.19   | 0.68%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YC98<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4705000 | PA      | $4337358.36   | 1.79%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST BAY TRANSPRTN      | Massachusetts Bay Transportation Authority Sales Tax Revenue  | CUSIP: 575579V53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079047.90   | 0.45%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST BAY TRANSPRTN      | Massachusetts Bay Transportation Authority Sales Tax Revenue  | CUSIP: 575579B97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4475000 | PA      | $4527829.61   | 1.87%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROCKTON MA                         | City of Brockton MA                                           | CUSIP: 111746KV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3245000 | PA      | $3539426.96   | 1.46%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YN70<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1507743.28   | 0.62%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REVENUE         | Port Authority of Guam                                        | CUSIP: 400652AM5<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    400000 | PA      | $410714.76    | 0.17%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y5N5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3075000 | PA      | $3255201.77   | 1.35%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YU49<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    520000 | PA      | $446713.18    | 0.18%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YRG6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    700000 | PA      | $692104.21    | 0.29%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR & WS      | Guam Government Waterworks Authority                          | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512842.25   | 0.63%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH          | Massachusetts Port Authority                                  | CUSIP: 575896YP4<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1101013.20   | 0.46%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BJU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006307.90   | 0.42%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH          | Massachusetts Port Authority                                  | CUSIP: 575896TN5<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2582032.25   | 1.07%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY        | Massachusetts Housing Finance Agency                          | CUSIP: 57586N6N6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2089436.50   | 0.86%             | 2044-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584X4L2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010670.70   | 0.42%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAYS HARBOR CNTY WA PUBLIC HO      | Grays Harbor County Public Hospital District No 1             | CUSIP: 389526AG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1448801.12   | 0.60%             | 2044-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REVENUE         | Port Authority of Guam                                        | CUSIP: 400652AL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205541.60    | 0.08%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MASSACHUSETTS MA BLDGA      | University of Massachusetts Building Authority                | CUSIP: 914440UD2<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |   2365000 | PA      | $2543883.87   | 1.05%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY H      | Massachusetts Housing Finance Agency                          | CUSIP: 57587GKG9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1415008.80   | 0.59%             | 2051-12-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YU23<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    395000 | PA      | $396344.86    | 0.16%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BEAUMONT TX HSG AUTH RSDL DEV       | Beaumont Housing Authority                                    | CUSIP: 07451AAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $471565.13    | 0.19%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y2V0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    980000 | PA      | $1005759.01   | 0.42%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XNX5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1117368.12   | 0.46%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST MUNI WHOLESAL      | Massachusetts Municipal Wholesale Electric Co                 | CUSIP: 575766BK5<br>LEI: 549300CFLHW0OYBX9C89 | Long             | DBT              | MUN               | US        |    425000 | PA      | $475743.09    | 0.20%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YQJ1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $495400.55    | 0.20%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YJM2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2765000 | PA      | $2912758.01   | 1.20%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST WTR RESOURCES      | Massachusetts Water Resources Authority                       | CUSIP: 576051E51<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1314323.46   | 0.54%             | 2048-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YT82<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    245000 | PA      | $245017.96    | 0.10%             | 2026-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YF53<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107927.70   | 0.46%             | 2046-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YG78<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    300000 | PA      | $319277.22    | 0.13%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST BAY TRANSPRTN      | Massachusetts Bay Transportation Authority Sales Tax Revenue  | CUSIP: 575579E52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2432458.80   | 1.01%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BAL2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2931976.75   | 1.21%             | 2034-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XKJ9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1258520.50   | 0.52%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YWG0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    485000 | PA      | $443240.77    | 0.18%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY        | Massachusetts Housing Finance Agency                          | CUSIP: 57586NKG5<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1570187.14   | 0.65%             | 2027-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY        | Massachusetts Housing Finance Agency                          | CUSIP: 57586NGX3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    590000 | PA      | $590552.83    | 0.24%             | 2030-12-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BMC9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    750000 | PA      | $799436.63    | 0.33%             | 2050-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y4J5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $975645.90    | 0.40%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                    | Commonwealth of Massachusetts                                 | CUSIP: 57582RY42<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2645365.00   | 1.09%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                    | Commonwealth of Massachusetts                                 | CUSIP: 57582RR99<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2075095.80   | 0.86%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XMS7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    935000 | PA      | $944605.72    | 0.39%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST CLEAN WTR TRU      | Massachusetts Clean Water Trust/The                           | CUSIP: 575829MR4<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1563434.23   | 0.65%             | 2043-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH SPL      | Massachusetts Port Authority                                  | CUSIP: 575898DR9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3265731.70   | 1.35%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BEY0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3523166.27   | 1.46%             | 2054-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY MA TRANSPRTN      | Massachusetts Bay Transportation Authority Assessment Revenue | CUSIP: 575577NZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3365000 | PA      | $3496881.08   | 1.45%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YT58<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    385000 | PA      | $386310.81    | 0.16%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST MUNI WHOLESAL      | Massachusetts Municipal Wholesale Electric Co                 | CUSIP: 575766BL3<br>LEI: 549300CFLHW0OYBX9C89 | Long             | DBT              | MUN               | US        |    450000 | PA      | $498263.76    | 0.21%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YX53<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $757907.20    | 0.31%             | 2056-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y6S3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    950000 | PA      | $1025142.72   | 0.42%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YNZ8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    765000 | PA      | $811611.76    | 0.34%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YR92<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    700000 | PA      | $709065.35    | 0.29%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XJ44<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    655000 | PA      | $658536.48    | 0.27%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YK32<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2846934.60   | 1.18%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST MUNI WHOLESAL      | Massachusetts Municipal Wholesale Electric Co                 | CUSIP: 575766BN9<br>LEI: 549300CFLHW0OYBX9C89 | Long             | DBT              | MUN               | US        |    490000 | PA      | $532485.79    | 0.22%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57583U4J4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500216.45    | 0.21%             | 2038-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST EDUCTNL FING       | Massachusetts Educational Financing Authority                 | CUSIP: 57563RUG2<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019900.20   | 0.42%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH SPL      | Massachusetts Port Authority                                  | CUSIP: 575898DB4<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |    115000 | PA      | $116190.85    | 0.05%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST CLEAN WTR TRU      | Massachusetts Clean Water Trust/The                           | CUSIP: 575829MP8<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |    400000 | PA      | $438616.08    | 0.18%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YMH9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2164496.46   | 0.89%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST MUNI WHOLESAL      | Massachusetts Municipal Wholesale Electric Co                 | CUSIP: 575766BM1<br>LEI: 549300CFLHW0OYBX9C89 | Long             | DBT              | MUN               | US        |    470000 | PA      | $515544.60    | 0.21%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y6T1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1229674.88   | 0.51%             | 2043-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y3V9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2132121.00   | 0.88%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YL64<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4070000 | PA      | $3285010.96   | 1.36%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST TRANSPRTN FUN      | Commonwealth of Massachusetts Transportation Fund Revenue     | CUSIP: 57604TMC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050999.80   | 0.43%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XYC9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000194.60   | 0.83%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XMT5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504497.00    | 0.21%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH      | Massachusetts School Building Authority                       | CUSIP: 576000G49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $576137.80    | 0.24%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y8H5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.41%             | 2048-03-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| AMERICAN SAMOA AS ECON DEV AUT      | American Samoa Economic Development Authority                 | CUSIP: 02936TAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021003.50   | 0.42%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XF63<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009571.90   | 0.42%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                    | Commonwealth of Massachusetts                                 | CUSIP: 57582TDX7<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5267083.00   | 2.18%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE T      | Territory of Guam                                             | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2885816.10   | 1.19%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                  | Commonwealth of Puerto Rico                                   | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    750000 | PA      | $721067.03    | 0.30%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BJT6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    750000 | PA      | $758099.10    | 0.31%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| QUINCY MA                           | City of Quincy MA                                             | CUSIP: 748508L55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275091.85    | 0.11%             | 2042-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                    | Commonwealth of Massachusetts                                 | CUSIP: 57582R2B1<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2015000 | PA      | $2107078.65   | 0.87%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                    | Commonwealth of Massachusetts                                 | CUSIP: 57582RVY9<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3063782.40   | 1.27%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BBT4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1144714.80   | 0.47%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XJF9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2013936.80   | 0.83%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YM97<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2160000 | PA      | $1925425.30   | 0.80%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BBQ0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1510186.72   | 0.62%             | 2054-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST MUNI WHOLESAL      | Massachusetts Municipal Wholesale Electric Co                 | CUSIP: 575766BP4<br>LEI: 549300CFLHW0OYBX9C89 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1751628.62   | 0.72%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MASSACHUSETTS MA BLDGA      | University of Massachusetts Building Authority                | CUSIP: 914440UG5<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |    635000 | PA      | $654288.25    | 0.27%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57585BKB3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4167863.20   | 1.72%             | 2050-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57583RXL4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1885251.60   | 0.78%             | 2028-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST BAY TRANSPRTN      | Massachusetts Bay Transportation Authority Sales Tax Revenue  | CUSIP: 575579V95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1113047.88   | 0.46%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH SPL      | Massachusetts Port Authority                                  | CUSIP: 575898DD0<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |    210000 | PA      | $220416.21    | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YGJ2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    900000 | PA      | $945240.48    | 0.39%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH          | Massachusetts Port Authority                                  | CUSIP: 575896SP1<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1283164.85   | 0.53%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584Y7K9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2833185.00   | 1.17%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YT74<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    100000 | PA      | $85906.38     | 0.04%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| QUINCY MA                           | City of Quincy MA                                             | CUSIP: 748508L48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302360.13    | 0.13%             | 2041-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX       | Territory of Guam                                             | CUSIP: 40065KAV5<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    825000 | PA      | $862068.65    | 0.36%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YTD1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063197.40   | 0.44%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YGK9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048307.10   | 0.43%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XNL1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1611169.76   | 0.67%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XCF6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750225.38    | 0.31%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REVENUE         | Port Authority of Guam                                        | CUSIP: 400652AG8<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    465000 | PA      | $481893.96    | 0.20%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAVIS CA JT UNIF SCH DIST YOLO      | Davis Joint Unified School District                           | CUSIP: 238848EA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2445573.44   | 1.01%             | 2038-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584YS26<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1413871.48   | 0.58%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R      | Massachusetts Development Finance Agency                      | CUSIP: 57584XEB3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    740000 | PA      | $740620.05    | 0.31%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-27

**Name of Applicant:** Putnam ETF Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

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