# EDGAR Filing Document

**Accession Number:** 0001005942
**File Stem:** 0000869392-23-000140
**Filing Date:** 2023-1
**Character Count:** 65064
**Document Hash:** fbe5ef699e15542778f24f47fa0b3ea2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000140.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0000869392-23-000140

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**PERIOD START**: 20221130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001005942
- **IRS NUMBER:** 043299786
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07513
- **FILM NUMBER:** 23556932

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6177601000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

## Series and Classes Contracts Data

### Putnam Short-Term Municipal Income Fund (Series ID: S000039833)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000123516 | CLASS A         |  |
| C000123518 | CLASS C         |  |
| C000123520 | CLASS Y         |  |
| C000202822 | Class R6 Shares |  |

## 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 Funds Trust

- **b. Investment Company Act file number:** 811-07513

- **c. CIK number of Registrant:** 0001005942

- **d. LEI of Registrant:** 549300S9JYWEMKQCLW53

- **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 Short-Term Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000039833

- **c. LEI of Series:** 5493008N45N32KPI1M70

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

- **a. Date of fiscal year-end:** 2022-11-30

- **b. Date as of which information is reported:** 2022-11-30

**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:** $82350276.66

**Total Liabilities:** $1039168.84

**Net Assets:** $81311107.82

**Delayed Delivery Securities:** $727816.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 601.54 | **1-Year:** 4885.11 | **5-Year:** 7890 | **10-Year:** 13277.33 | **30-Year:** 11175.75

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

- **3-Month:** 64.18 | **1-Year:** 144.04 | **5-Year:** 135.68 | **10-Year:** 18.23 | **30-Year:** 12.58

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000202822 | 1.63%                | -0.05%               | -1.17%               |
| Class ID C000123518 | 1.55%                | -0.14%               | -1.27%               |
| Class ID C000123520 | 1.63%                | -0.16%               | -1.18%               |
| Class ID C000123516 | 1.61%                | -0.08%               | -1.20%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-104430.36              | $1178164.60                                |
| Month 2  | $-7062.63                | $-164605.19                                |
| Month 3  | $-0.01                   | $-739808.02                                |

**Designated Index Information**

- **Index Name:** Bloomberg 3 Year Municipal Index

- **Index Identifier:** IDX07590

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SA ENERGY ACQUISITION PUBLIC FACILITY CORP                                       | FX.RT. MUNI BOND        | CUSIP: 785138AT5<br>LEI: 5493006HRL5XH4QOE746 | Long             | DBT              | MUN               | US        |     75000 | PA      | $77705.87     | 0.10%             | 2025-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OHIO WATER DEVELOPMENT AUTHORITY                                                 | FX.RT. MUNI BOND        | CUSIP: 677659K37<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1065403.45   | 1.31%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL WASTEWATER TRANSMISSION REVENUE                               | FX.RT. MUNI BOND        | CUSIP: 167727UD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200393.18    | 0.25%             | 2023-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                                 | FX.RT. MUNI BOND        | CUSIP: 13033LS57<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    230000 | PA      | $213199.49    | 0.26%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY                                   | FX.RT. MUNI BOND        | CUSIP: 646136Q79<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    650000 | PA      | $656405.56    | 0.81%             | 2030-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COOK COUNTY COMMUNITY COLLEGE DISTRICT NO 508                                    | FX.RT. MUNI BOND        | CUSIP: 213187CF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502317.55    | 0.62%             | 2030-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA HOUSING FINANCE AGENCY                                                 | FX.RT. MUNI BOND        | CUSIP: 60416SFV7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30048.21     | 0.04%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS HOUSING FINANCE AGENCY                                             | FX.RT. MUNI BOND        | CUSIP: 57587ABA5<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15006.26     | 0.02%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTANA BOARD OF HOUSING                                                         | FX.RT. MUNI BOND        | CUSIP: 61212R5G7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $9934.86      | 0.01%             | 2043-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY  AND  TRANSPORTATION AUTHORITY                               | FX.RT. MUNI BOND        | CUSIP: 745181F77<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | PR        |     55000 | PA      | $56395.66     | 0.07%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX ARIZONA/THE              | FX.RT. MUNI BOND        | CUSIP: 71885FDH7<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |      5000 | PA      | $4961.94      | 0.01%             | 2024-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                           | FX.RT. MUNI BOND        | CUSIP: 13049SAY0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    510000 | PA      | $516969.71    | 0.64%             | 2023-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE          | FX.RT. MUNI BOND        | CUSIP: 64971WPE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581186.60   | 1.94%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHWEST INDEPENDENT SCHOOL DISTRICT                                            | FX.RT. MUNI BOND        | CUSIP: 667825K28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1742681.37   | 2.14%             | 2024-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK COUNTY SCHOOL DISTRICT                                                     | FX.RT. MUNI BOND        | CUSIP: 181059TE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $477746.60    | 0.59%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | FX.RT. MUNI BOND        | CUSIP: 45204EAR9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75966.64     | 0.09%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                                | FX.RT. MUNI BOND        | CUSIP: 71779QAL6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1649098.93   | 2.03%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE COUNTY HEALTH FACILITIES AUTHORITY                                        | FX.RT. MUNI BOND        | CUSIP: 68450LFM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3126556.20   | 3.85%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                        | FX.RT. MUNI BOND        | CUSIP: 64577BD84<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $518498.90    | 0.64%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE CITY UT AIRPORT REVENUE                                        | FX.RT. MUNI BOND        | CUSIP: 795576FN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527657.90    | 0.65%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF NEW YORK  AND  NEW JERSEY                                      | FX.RT. MUNI BOND        | CUSIP: 73358WR55<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    960000 | PA      | $1002060.38   | 1.23%             | 2025-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY                         | FX.RT. MUNI BOND        | CUSIP: 646080TT8<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1074286.76   | 1.32%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA                                                               | FX.RT. MUNI BOND        | CUSIP: 735389F52<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064731.70   | 1.31%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS                                                                | FX.RT. MUNI BOND        | CUSIP: 4521522G5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512887.75    | 0.63%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS STATE AFFORDABLE HOUSING CORP                                              | FX.RT. MUNI BOND        | CUSIP: 88271HEJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55056.28     | 0.07%             | 2028-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE HOUSING FINANCE AGENCY                                            | FX.RT. MUNI BOND        | CUSIP: 64987DZR8<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    525000 | PA      | $522334.10    | 0.64%             | 2023-05-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA                                                             | FX.RT. MUNI BOND        | CUSIP: 25483VVK7<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    300000 | PA      | $310166.85    | 0.38%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY INDUSTRIAL DEVELOPMENT AUTHORITY                                     | FX.RT. MUNI BOND        | CUSIP: 48504NAS8<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069329.50   | 1.32%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY INDUSTRIAL DEVELOPMENT AUTHORITY                                     | FX.RT. MUNI BOND        | CUSIP: 48504NAP4<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055599.70   | 1.30%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA                                                             | FX.RT. MUNI BOND        | CUSIP: 25483VVU5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100890.23    | 0.12%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLLEGIATE CHARTER SCHOOL OF LOWELL                                              | FX.RT. MUNI BOND        | CUSIP: 547649AE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $34737.41     | 0.04%             | 2024-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FREDERICK MD                                                           | FX.RT. MUNI BOND        | CUSIP: 355612AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $135577.89    | 0.17%             | 2024-07-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                           | FX.RT. MUNI BOND        | CUSIP: 13048VKQ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    165000 | PA      | $166102.48    | 0.20%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT HOUSING FINANCE AUTHORITY                                            | FX.RT. MUNI BOND        | CUSIP: 20775B4P8<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    600000 | PA      | $597662.40    | 0.74%             | 2024-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                           | FX.RT. MUNI BOND        | CUSIP: 13048TX99<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    650000 | PA      | $656998.68    | 0.81%             | 2023-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEVELOPMENT FINANCE CORP                                                 | FX.RT. MUNI BOND        | CUSIP: 34061UEZ7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    150000 | PA      | $162823.08    | 0.20%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA INFRASTRUCTURE  AND  ECONOMIC DEVELOPMENT BANK                        | FX.RT. MUNI BOND        | CUSIP: 13034AJ35<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    640000 | PA      | $708729.66    | 0.87%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEWARK NJ                                                                | FX.RT. MUNI BOND        | CUSIP: 650367PK5<br>LEI: 5493008RBPM01QHRYX34 | Long             | DBT              | MUN               | US        |    960000 | PA      | $976856.93    | 1.20%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT                               | FX.RT. MUNI BOND        | CUSIP: 009730PG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $265693.12    | 0.33%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT                               | FX.RT. MUNI BOND        | CUSIP: 009730PJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $191154.62    | 0.24%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF FONTANA CA                                                               | FX.RT. MUNI BOND        | CUSIP: 344630WM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $248780.45    | 0.31%             | 2023-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHIA PA AIRPORT REVENUE                                          | FX.RT. MUNI BOND        | CUSIP: 717817WC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $769676.93    | 0.95%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FINANCING AUTHORITY                                      | FX.RT. MUNI BOND        | CUSIP: 928104MK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257451.88    | 0.32%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY INDUSTRIAL DEVELOPMENT AUTHORITY                                     | FX.RT. MUNI BOND        | CUSIP: 48504NBR9<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522008.05    | 0.64%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF DETROIT MI                                                               | FX.RT. MUNI BOND        | CUSIP: 2510933X6<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    600000 | PA      | $616466.04    | 0.76%             | 2025-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF OAKLAND                                                                  | FX.RT. MUNI BOND        | CUSIP: 735000TM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $551168.88    | 0.68%             | 2025-05-01      | Fixed         | 1.18%                 | No            |                  2 | On Loan: No      |
| STATE OF HAWAII HARBOR SYSTEM REVENUE                                            | FX.RT. MUNI BOND        | CUSIP: 41981THL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244744.88    | 0.30%             | 2023-07-01      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY                                  | FX.RT. MUNI BOND        | CUSIP: 13016NHE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1035041.11   | 1.27%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP                                         | FX.RT. MUNI BOND        | CUSIP: 650116DE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $232623.14    | 0.29%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA                          | FX.RT. MUNI BOND        | CUSIP: 960875AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150481.25    | 0.19%             | 2023-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSPORTATION DISTRICT                                                 | FX.RT. MUNI BOND        | CUSIP: 759151AV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101591.09    | 0.12%             | 2024-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSPORTATION DISTRICT                                                 | FX.RT. MUNI BOND        | CUSIP: 759151AX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $164801.95    | 0.20%             | 2025-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FINANCE AUTHORITY                                                       | FX.RT. MUNI BOND        | CUSIP: 59447TH89<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    248893 | PA      | $226207.89    | 0.28%             | 2030-06-01      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY                                      | FX.RT. MUNI BOND        | CUSIP: 13069BAD8<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102057.95    | 0.13%             | 2024-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY                                      | FX.RT. MUNI BOND        | CUSIP: 13069BAF3<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103959.09    | 0.13%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                               | FX.RT. MUNI BOND        | CUSIP: 64990G4N9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100890.23    | 0.12%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                               | FX.RT. MUNI BOND        | CUSIP: 64990G4P4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    175000 | PA      | $178858.26    | 0.22%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                               | FX.RT. MUNI BOND        | CUSIP: 64990G4R0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    200000 | PA      | $208902.82    | 0.26%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                               | FX.RT. MUNI BOND        | CUSIP: 64990G4T6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     75000 | PA      | $79634.45     | 0.10%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                               | FX.RT. MUNI BOND        | CUSIP: 64990G4V1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     75000 | PA      | $80584.61     | 0.10%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                               | FX.RT. MUNI BOND        | CUSIP: 64990G4U3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     75000 | PA      | $80257.10     | 0.10%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH  AND  HIGHER EDUCATIONAL FACILITIES AUTHORITY                    | FX.RT. MUNI BOND        | CUSIP: 57421CBV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $211637.44    | 0.26%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGENCY                                                       | FX.RT. MUNI BOND        | CUSIP: 917467BN1<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    250000 | PA      | $247445.33    | 0.30%             | 2023-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGENCY                                                       | FX.RT. MUNI BOND        | CUSIP: 917467BR2<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    250000 | PA      | $238089.90    | 0.29%             | 2026-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY BOND DEVELOPMENT CORP                                                   | FX.RT. MUNI BOND        | CUSIP: 49120AAE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $170715.86    | 0.21%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEALTH  AND  EDUCATIONAL FACILITIES AUTHORITY                  | FX.RT. MUNI BOND        | CUSIP: 20775DJZ6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502871.40    | 0.62%             | 2024-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS                                                                | FX.RT. MUNI BOND        | CUSIP: 452153AC3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    800000 | PA      | $815056.48    | 1.00%             | 2024-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WISCONSIN                                                               | FX.RT. MUNI BOND        | CUSIP: 977087JX4<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1574151.52   | 1.94%             | 2024-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PLAZA AT NOAH'S ARK COMMUNITY IMPROVEMENT DISTRICT                               | FX.RT. MUNI BOND        | CUSIP: 72813LAH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149066.55    | 0.18%             | 2023-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MEDICAL CARE COMMISSION                                           | FX.RT. MUNI BOND        | CUSIP: 65821DXV8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    150000 | PA      | $149503.65    | 0.18%             | 2023-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ST JOHNS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                                 | FX.RT. MUNI BOND        | CUSIP: 79041LAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $186126.22    | 0.23%             | 2028-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST JOHNS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                                 | FX.RT. MUNI BOND        | CUSIP: 79041LAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $109972.41    | 0.14%             | 2022-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM  AND  EXPOSITION DISTRICT                                      | FX.RT. MUNI BOND        | CUSIP: 546410CF6<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003586.30   | 1.23%             | 2023-07-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH ECONOMIC DEVELOPMENT AUTHORITY                                            | FX.RT. MUNI BOND        | CUSIP: 26444VAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $195586.48    | 0.24%             | 2024-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEALTH  AND  EDUCATIONAL FACILITIES AUTHORITY                  | FX.RT. MUNI BOND        | CUSIP: 20775DNV0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    150000 | PA      | $155490.18    | 0.19%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEALTH  AND  EDUCATIONAL FACILITIES AUTHORITY                  | FX.RT. MUNI BOND        | CUSIP: 20775DNX6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    250000 | PA      | $264342.30    | 0.33%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA MUNICIPAL POWER AGENCY                                                   | FX.RT. MUNI BOND        | CUSIP: 342816T21<br>LEI: 549300M3I10QJUPNU131 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1144205.48   | 1.41%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH ECONOMIC DEVELOPMENT AUTHORITY                                            | FX.RT. MUNI BOND        | CUSIP: 26444CJT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $553210.97    | 0.68%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF FARMINGTON NM                                                            | FX.RT. MUNI BOND        | CUSIP: 311450FW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $201910.85    | 0.25%             | 2033-04-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| IMPERIAL COUNTY LOCAL TRANSPORTATION AUTHORITY                                   | FX.RT. MUNI BOND        | CUSIP: 45272EFL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1235183.39   | 1.52%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS                                       | FX.RT. MUNI BOND        | CUSIP: 544445XR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $540294.75    | 0.66%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL SPECIAL ASSESSMENT REVENUE                                    | FX.RT. MUNI BOND        | CUSIP: 167686AE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97556.89     | 0.12%             | 2023-12-01      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | FX.RT. MUNI BOND        | CUSIP: 45204FPJ8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    205000 | PA      | $203868.24    | 0.25%             | 2023-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | FX.RT. MUNI BOND        | CUSIP: 45204FPK5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    215000 | PA      | $211949.52    | 0.26%             | 2024-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES COUNTY REGIONAL FINANCING AUTHORITY                                  | FX.RT. MUNI BOND        | CUSIP: 54531KAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $435684.32    | 0.54%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FUND SPECIAL PURPOSE SECURITIZATION CORP                                | FX.RT. MUNI BOND        | CUSIP: 57665NAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    125000 | PA      | $127668.95    | 0.16%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROEVILLE FINANCE AUTHORITY                                                    | FX.RT. MUNI BOND        | CUSIP: 611530CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $733312.22    | 0.90%             | 2024-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA                                                             | FX.RT. MUNI BOND        | CUSIP: 25483VZF4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    500000 | PA      | $519493.35    | 0.64%             | 2025-08-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF PUERTO RICO                                                      | FX.RT. MUNI BOND        | CUSIP: 74514L3E5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    124996 | PA      | $125543.76    | 0.15%             | 2023-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO HIGHER EDUCATIONAL FACILITY COMMISSION                                      | FX.RT. MUNI BOND        | CUSIP: 677510CC1<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |     90000 | PA      | $91224.84     | 0.11%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HIGHER EDUCATIONAL FACILITY COMMISSION                                      | FX.RT. MUNI BOND        | CUSIP: 677510CD9<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102273.99    | 0.13%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HIGHER EDUCATIONAL FACILITY COMMISSION                                      | FX.RT. MUNI BOND        | CUSIP: 677510CE7<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103172.63    | 0.13%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WATER AUTHORITY WATER SUPPLY SYSTEM REVENUE                          | FX.RT. MUNI BOND        | CUSIP: 39081JAX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068046.20   | 1.31%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STOCKTON UNIFIED SCHOOL DISTRICT                                                 | FX.RT. MUNI BOND        | CUSIP: 861422EZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $593959.36    | 0.73%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HIGHER EDUCATIONAL FACILITY COMMISSION                                      | FX.RT. MUNI BOND        | CUSIP: 67756DD45<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    700000 | PA      | $720959.54    | 0.89%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMMOND MULTI-SCHOOL BUILDING CORP                                               | FX.RT. MUNI BOND        | CUSIP: 408395ST9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1198547.03   | 1.47%             | 2024-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ROCKPORT IN                                                              | FX.RT. MUNI BOND        | CUSIP: 773835BX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $491490.80    | 0.60%             | 2025-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGENCY                                                       | FX.RT. MUNI BOND        | CUSIP: 917467BB7<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    455000 | PA      | $467210.02    | 0.57%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF PIMA/THE                       | FX.RT. MUNI BOND        | CUSIP: 72178AAB8<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    420000 | PA      | $422908.12    | 0.52%             | 2024-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                             | FX.RT. MUNI BOND        | CUSIP: 19648FVY7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    800000 | PA      | $826278.24    | 1.02%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY HOUSING DEVELOPMENT CORP                                           | FX.RT. MUNI BOND        | CUSIP: 64972EK73<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    475000 | PA      | $459608.15    | 0.57%             | 2024-05-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                           | FX.RT. MUNI BOND        | CUSIP: 130493CA5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106106.57    | 0.13%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                           | FX.RT. MUNI BOND        | CUSIP: 130493CB3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    115000 | PA      | $122702.50    | 0.15%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                           | FX.RT. MUNI BOND        | CUSIP: 130493CC1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    125000 | PA      | $134509.45    | 0.17%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF CLARK DEPARTMENT OF AVIATION                                           | FX.RT. MUNI BOND        | CUSIP: 18085PSZ8<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |    500000 | PA      | $526202.95    | 0.65%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA STATE PUBLIC SERVICE AUTHORITY                                    | FX.RT. MUNI BOND        | CUSIP: 837151R68<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    150000 | PA      | $157599.41    | 0.19%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA STATE PUBLIC SERVICE AUTHORITY                                    | FX.RT. MUNI BOND        | CUSIP: 837151P37<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    355000 | PA      | $372985.26    | 0.46%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE AIRPORT AUTHORITY/THE                                     | FX.RT. MUNI BOND        | CUSIP: 592190QF2<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |     50000 | PA      | $52628.11     | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENNIS-YARMOUTH REGIONAL SCHOOL DISTRICT                                         | FX.RT. MUNI NOTE        | CUSIP: 248613JJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018104.00   | 1.25%             | 2023-11-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FLINT HOSPITAL BUILDING AUTHORITY                                                | MUNI ORIG ISSUE DISC    | CUSIP: 339511FA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35392.97     | 0.04%             | 2028-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS                                                                | MUNI ORIG ISSUE DISC    | CUSIP: 452152MN8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    225000 | PA      | $225038.75    | 0.28%             | 2025-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLINT HOSPITAL BUILDING AUTHORITY                                                | MUNI ORIG ISSUE DISC    | CUSIP: 339511FB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $526078.98    | 0.65%             | 2028-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL                                       | MUNI ORIG ISSUE DISC    | CUSIP: 647377AS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $197940.46    | 0.24%             | 2023-07-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| INDIANA FINANCE AUTHORITY                                                        | MUNI PUT BOND           | CUSIP: 455054BJ4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    650000 | PA      | $651136.40    | 0.80%             | 2046-12-15      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| LOUISIANA OFFSHORE TERMINAL AUTHORITY                                            | MUNI PUT BOND ACT       | CUSIP: 546510FQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $394050.08    | 0.48%             | 2033-09-01      | Variable      | 1.65%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT                                | MUNI PUT BOND ACT       | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531682.80    | 0.65%             | 2053-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT AUTHORITY OF BURKE COUNTY/THE                                        | MUNI PUT BOND ACT       | CUSIP: 121342QD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $493536.40    | 0.61%             | 2049-12-01      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                           | MUNI PUT BOND ACT       | CUSIP: 677525WU7<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501267.85    | 0.62%             | 2030-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON INDEPENDENT SCHOOL DISTRICT                                              | MUNI PUT BOND ACT       | CUSIP: 442403PS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1978751.00   | 2.43%             | 2039-06-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HOUSING FINANCE AUTHORITY                                      | MUNI PUT BOND ACT       | CUSIP: 696513AS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $1912952.44   | 2.35%             | 2025-02-15      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND POWER AUTHORITY                                                      | MUNI PUT BOND ACT       | CUSIP: 542691EX4<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |    200000 | PA      | $181735.80    | 0.22%             | 2051-09-01      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| FORT BEND INDEPENDENT SCHOOL DISTRICT                                            | MUNI PUT BOND ACT       | CUSIP: 346843SZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $771181.01    | 0.95%             | 2051-08-01      | Variable      | 0.72%                 | No            |                  2 | On Loan: No      |
| IOWA FINANCE AUTHORITY                                                           | MUNI PUT BOND ACT       | CUSIP: 46246YAB8<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    300000 | PA      | $293515.08    | 0.36%             | 2042-01-01      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                                       | MUNI PUT BOND ACT       | CUSIP: 45204FEG6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512911.75    | 0.63%             | 2050-05-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PARISH OF ST JOHN THE BAPTIST LA                                                 | MUNI PUT BOND ACT       | CUSIP: 79020FAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $96768.23     | 0.12%             | 2037-06-01      | Variable      | 2.12%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND POWER AUTHORITY                                                      | MUNI PUT BOND ACT       | CUSIP: 542691DM9<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |    500000 | PA      | $455535.20    | 0.56%             | 2050-09-01      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                        | MUNI PUT BOND ACT       | CUSIP: 645780FP7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $495144.25    | 0.61%             | 2034-11-01      | Variable      | 1.20%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP                        | MUNI PUT BOND ACT       | CUSIP: 87638QSF7<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    650000 | PA      | $686983.77    | 0.84%             | 2052-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT AUTHORITY OF BURKE COUNTY/THE                                        | MUNI PUT BOND ACT       | CUSIP: 121342PX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $223710.90    | 0.28%             | 2032-10-01      | Variable      | 2.15%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY HOUSING DEVELOPMENT CORP                                           | MUNI PUT BOND ACT       | CUSIP: 64972EFJ3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    125000 | PA      | $124504.20    | 0.15%             | 2058-11-01      | Variable      | 2.10%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO WATER SYSTEM                                                 | MUNI PUT BOND ACT       | CUSIP: 79642GCG5<br>LEI: 549300S7VENCVRZAA322 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997929.70    | 1.23%             | 2049-05-01      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENERGY PROJECT                                                    | MUNI PUT BOND ACT       | CUSIP: 154871CT2<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009334.60   | 1.24%             | 2050-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE UNIVERSITY                                                      | MUNI PUT BOND ACT       | CUSIP: 13077C4K7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1720576.40   | 2.12%             | 2049-11-01      | Variable      | 0.55%                 | No            |                  2 | On Loan: No      |
| GOLDEN STATE TOBACCO SECURITIZATION CORP                                         | MUNI. ZERO              | CUSIP: 38122NGJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1617095.70   | 1.99%             | 2025-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PUTNAM SHORT TERM INVESTMENT FUND                                                | SHORT TERM INV FUND     | CUSIP: 74676P664<br>LEI: 5493003MK0Q7JP8CPP42 | Long             | STIV             | PF                | US        |    321429 | NS      | $321429.00    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY                                                              | VAR.RT.MUNI NOTE NT     | CUSIP: 64966LLS8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 1.23%             | 2040-03-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY  AND  COUNTY AIRPORT COMM-SAN FRANCISCO INTERNATIONAL AIRPORT | VAR.RT.MUNI NOTE NT     | CUSIP: 79766DLB3<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.61%             | 2058-05-01      | Variable      | 1.45%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY                               | VAR.RT.MUNI NOTE NT     | CUSIP: 83703FLR1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.61%             | 2048-05-01      | Variable      | 1.06%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY                                         | VAR.RT.MUNI NOTE NT     | CUSIP: 57583RWB7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 1.84%             | 2042-10-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS WATER RESOURCES AUTHORITY                                          | VAR.RT.MUNI NOTE NT     | CUSIP: 576051BY1<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1215000.00   | 1.49%             | 2037-08-01      | Variable      | 1.94%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH CARE FACILITIES AUTHORITY                                      | VARIABLE RATE MUNI BOND | CUSIP: 93978HRM9<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000008.40   | 1.23%             | 2042-01-01      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF PUERTO RICO                                                      | VARIABLE RATE MUNI BOND | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     13421 | PA      | $4764.38      | 0.01%             | 2051-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| SCRANTON SCHOOL DISTRICT/PA                                                      | VARIABLE RATE MUNI BOND | CUSIP: 810827TW5<br>LEI: 549300SDNGI3OKNOUW62 | Long             | DBT              | MUN               | US        |    885000 | PA      | $883832.86    | 1.09%             | 2031-04-01      | Floating      | 3.41%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC                                                      | VARIABLE RATE MUNI BOND | CUSIP: 56035DAL6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    800000 | PA      | $795771.20    | 0.98%             | 2048-04-01      | Floating      | 3.27%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH WATER  AND  SEWER AUTHORITY                                           | VARIABLE RATE MUNI BOND | CUSIP: 725304UC1<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |    625000 | PA      | $624379.00    | 0.77%             | 2040-09-01      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                               | VARIABLE RATE MUNI BOND | CUSIP: 59333GAN8<br>LEI: 549300RM19LZY32DAU30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $959960.50    | 1.18%             | 2048-11-01      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA INFRASTRUCTURE  AND  ECONOMIC DEVELOPMENT BANK                        | VARIABLE RATE MUNI BOND | CUSIP: 13034AQ60<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985313.80    | 1.21%             | 2047-08-01      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                        | VARIABLE RATE MUNI BOND | CUSIP: 645918W41<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100046.47    | 0.12%             | 2027-09-01      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| E-470 PUBLIC HIGHWAY AUTHORITY                                                   | VARIABLE RATE MUNI BOND | CUSIP: 26822LMV3<br>LEI: 549300164ZV2301BC703 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990319.50    | 1.22%             | 2039-09-01      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SAN BERNARDINO CA                                                      | VARIABLE RATE MUNI BOND | CUSIP: 796839AQ1<br>LEI: 254900RTS8DDNPA7MX91 | Long             | DBT              | MUN               | US        |    125000 | PA      | $124588.89    | 0.15%             | 2023-08-01      | Floating      | 3.37%                 | No            |                  2 | On Loan: No      |
| CITY OF SEATTLE WA MUNICIPAL LIGHT  AND  POWER REVENUE                           | VARIABLE RATE MUNI BOND | CUSIP: 812643WU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1465485.00   | 1.80%             | 2045-05-01      | Floating      | 2.10%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-26

**Name of Applicant:** Putnam Investments Inc

**Signature:** Janet C. Smith

**Name of Signer:** NPORT

**Title:** Principal Financial Officer