PUTNAM ETF TRUST

Ticker: PCRB CUSIP: 746729607 Class: ESG CORE BOND

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (1)

Value ($000) $6 Shares 129

Institution	Shares	Value ($000)
ASSETMARK, INC	129	$6

Increased Positions (5)

Riverwater Partners LLC

Value ($000) $2,834 (+2.5%) Shares 57,473 (+2.7%)

FRANKLIN RESOURCES INC

Value ($000) $875,791 (+4.4%) Shares 17,761,094 (+4.6%)

JANE STREET GROUP, LLC

Value ($000) $652 (+65.4%) Shares 13,232 (+65.8%)

JPMORGAN CHASE & CO

Value ($000) $124 (+248.7%) Shares 2,519 (+249.4%)

Cambridge Investment Research Advisors, Inc.

Value ($000) $1 (+1.7%) Shares 21,987 (+1.9%)

Institution	Prev Shares	Curr Shares	Change
Riverwater Partners LLC	55,951	57,473	+1,522 (+2.7%)
FRANKLIN RESOURCES INC	16,974,864	17,761,094	+786,230 (+4.6%)
JANE STREET GROUP, LLC	7,983	13,232	+5,249 (+65.8%)
JPMORGAN CHASE & CO	721	2,519	+1,798 (+249.4%)
Cambridge Investment Research Advisors, Inc.	21,581	21,987	+406 (+1.9%)

Decreased Positions (1)

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $6,522 (-35.7%) Shares 132,263 (-35.6%)

Institution	Prev Shares	Curr Shares	Change
SUSQUEHANNA INTERNATIONAL GROUP, LLP	205,346	132,263	-73,083 (-35.6%)

Exited Positions (2)

Value ($000) $5 Shares 109

OSAIC HOLDINGS, INC.

Value ($000) $5 Shares 105

Institution	Prev Shares	Prev Value ($000)
UBS Group AG	109	$5
OSAIC HOLDINGS, INC.	105	$5