NPORT-P
        false
        
            
            
                
                    0001845809
                    XXXXXXXX
                
            
            
            
            
                S000071709
                C000227195
            
            
            
        
    
    
        
            Putnam ETF Trust
            811-23643
            0001845809
            549300EMFKH8ETCKNO35
            100 FEDERAL STREET
            BOSTON
            
            02110
            1-800-225-1581
            Putnam Focused Large Cap Growth ETF
            S000071709
            549300QG106ILQU23214
            2021-08-31
            2021-05-31
            N
        
        
            3763541.87
            301.99
            3763239.87
            0.00
            0.00
            0.00
            0.00
            0.00
            0.00
            0.00
            0.00
            0.00
            0.00
            0.00
            0.00
            0.00
            75815.42
            N
            
                
                    
                
                
                    
                        
                        
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                    
                    
                        
                        
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                    
                    
                        
                        
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                    
                    
                        
                        
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                    
                    
                        
                        
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                    
                    
                        
                        
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                        
                            
                            
                            
                        
                    
                
                
                
                
            
            
            
            
            
            
        
        
            
                T-MOBILE US INC
                549300QHIJYOHPACPG31
                COMMON STOCK
                872590104
                
                    
                
                412
                NS
                USD
                58277.4
                1.548596475728
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                MASTERCARD INC
                AR5L2ODV9HN37376R084
                COMMON STOCK
                57636Q104
                
                    
                
                391
                NS
                USD
                140986.78
                3.746420235498
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                TESLA INC
                54930043XZGB27CTOV49
                COMMON STOCK
                88160R101
                
                    
                
                124
                NS
                USD
                77527.28
                2.060120605599
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                FACEBOOK INC
                BQ4BKCS1HXDV9HN80Z93
                COMMON STOCK
                30303M102
                
                    
                
                439
                NS
                USD
                144312.47
                3.834793289432
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                SERVICENOW INC
                549300HJTQM36M0E1G39
                COMMON STOCK
                81762P102
                
                    
                
                29
                NS
                USD
                13742.52
                0.365177891251
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                IQVIA HOLDINGS INC
                549300W3R20NM4KQPH86
                COMMON STOCK
                46266C105
                
                    
                
                143
                NS
                USD
                34342.88
                0.912588120512
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                PAYPAL HOLDINGS INC
                5493005X2GO78EFZ3E94
                COMMON STOCK
                70450Y103
                
                    
                
                564
                NS
                USD
                146651.28
                3.896942131409
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CHARTER COMMUNICATIONS INC
                0J0XRGZE3PBRFEZ7MV65
                COMMON STOCK
                16119P108
                
                    
                
                106
                NS
                USD
                73620.18
                1.956297832272
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                DOCUSIGN INC
                549300Q7PVDWRZ39JG09
                COMMON STOCK
                256163106
                
                    
                
                335
                NS
                USD
                67542.7
                1.794801881709
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                DRAFTKINGS INC
                5493008P45UYYL683Z97
                COMMON STOCK
                26142R104
                
                    
                
                1157
                NS
                USD
                57792.15
                1.535702001371
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AIRBNB INC
                549300HMUDNO0RY56D37
                COMMON STOCK
                009066101
                
                    
                
                449
                NS
                USD
                63039.6
                1.675141691141
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ESTEE LAUDER COS INC/THE
                549300VFZ8XJ9NUPU221
                COMMON STOCK
                518439104
                
                    
                
                154
                NS
                USD
                47204.08
                1.254346829611
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                DANAHER CORP
                S4BKK9OTCEWQ3YHPFM11
                COMMON STOCK
                235851102
                
                    
                
                324
                NS
                USD
                82989.36
                2.205263625675
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                APPLE INC
                HWUPKR0MPOU8FGXBT394
                COMMON STOCK
                037833100
                
                    
                
                2525
                NS
                USD
                314640.25
                8.360887449888
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                WALT DISNEY CO/THE
                549300GZKULIZ0WOW665
                COMMON STOCK
                254687106
                
                    
                
                401
                NS
                USD
                71638.65
                1.903642937329
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                UNITEDHEALTH GROUP INC
                549300GHBMY8T5GXDE41
                COMMON STOCK
                91324P102
                
                    
                
                316
                NS
                USD
                130166.72
                3.458900428795
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                NIKE INC
                787RXPR0UX0O0XUXPZ81
                COMMON STOCK
                654106103
                
                    
                
                736
                NS
                USD
                100434.56
                2.668832268723
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                IDEXX LABORATORIES INC
                OGMTXK0LUU1HKV2P0J84
                COMMON STOCK
                45168D104
                
                    
                
                133
                NS
                USD
                74228.63
                1.972466081467
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                SHERWIN-WILLIAMS CO/THE
                Z15BMIOX8DDH0X2OBP21
                COMMON STOCK
                824348106
                
                    
                
                258
                NS
                USD
                73150.74
                1.943823474638
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AMERICAN TOWER CORP
                5493006ORUSIL88JOE18
                COMMON STOCK
                03027X100
                
                    
                
                335
                NS
                USD
                85579.1
                2.27408039233
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                MICROSOFT CORP
                INR2EJN1ERAN0W5ZP974
                COMMON STOCK
                594918104
                
                    
                
                1407
                NS
                USD
                351299.76
                9.335035026614
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AMAZON.COM INC
                ZXTILKJKG63JELOEG630
                COMMON STOCK
                023135106
                
                    
                
                85
                NS
                USD
                273960.95
                7.279922605624
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ADOBE INC
                FU4LY2G4933NH2E1CP29
                COMMON STOCK
                00724F101
                
                    
                
                258
                NS
                USD
                130181.64
                3.459296895683
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                S AND P GLOBAL INC
                Y6X4K52KMJMZE7I7MY94
                COMMON STOCK
                78409V104
                
                    
                
                239
                NS
                USD
                90693.33
                2.409980047326
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                DEERE  AND  CO
                PWFTNG3EI0Y73OXWDH08
                COMMON STOCK
                244199105
                
                    
                
                143
                NS
                USD
                51637.3
                1.372150109581
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                UNION PACIFIC CORP
                549300LMMRSZZCZ8CL11
                COMMON STOCK
                907818108
                
                    
                
                154
                NS
                USD
                34608.42
                0.919644274496
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                COSTAR GROUP INC
                N/A
                COMMON STOCK
                22160N109
                
                    
                
                85
                NS
                USD
                72590
                1.928923016007
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                APPLIED MATERIALS INC
                41BNNE1AFPNAZELZ6K07
                COMMON STOCK
                038222105
                
                    
                
                535
                NS
                USD
                73899.55
                1.963721488739
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                HOME DEPOT INC/THE
                QEKMOTMBBKA8I816DO57
                COMMON STOCK
                437076102
                
                    
                
                106
                NS
                USD
                33804.46
                0.898280767843
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                NVIDIA CORP
                549300S4KLFTLO7GSQ80
                COMMON STOCK
                67066G104
                
                    
                
                199
                NS
                USD
                129306.22
                3.436034493331
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ALPHABET INC
                5493006MHB84DD0ZWV18
                COMMON STOCK
                02079K305
                
                    
                
                106
                NS
                USD
                249826.1
                6.638590911825
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                DEXCOM INC
                549300YSK3QDSFR5EU59
                COMMON STOCK
                252131107
                
                    
                
                181
                NS
                USD
                66859.59
                1.776649703703
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                LIVE NATION ENTERTAINMENT INC
                5493007B9BM9ZXJINO78
                COMMON STOCK
                538034109
                
                    
                
                832
                NS
                USD
                74971.52
                1.99220678431
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CHIPOTLE MEXICAN GRILL INC
                N/A
                COMMON STOCK
                169656105
                
                    
                
                37
                NS
                USD
                50763.26
                1.34892437776
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                TRANSDIGM GROUP INC
                N/A
                COMMON STOCK
                893641100
                
                    
                
                106
                NS
                USD
                68777.04
                1.827601810564
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                VISA INC
                549300JZ4OKEHW3DPJ59
                COMMON STOCK
                92826C839
                
                    
                
                335
                NS
                USD
                76145.5
                2.023402776077
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
        
        
            2021-07-27
            Putnam Investments Inc
            Janet C. Smith
            NPORT
            Principal Financial Officer
        
    
    XXXX
Putnam Focused Large Cap Growth ETF
The fund's portfolio
5/31/21 (Unaudited)


COMMON STOCKS (98.0%)(a)
        Shares Value
Aerospace and defense (1.8%)
TransDigm Group, Inc.(NON) 106 $68,777
68,777
Automobiles (2.1%)
Tesla, Inc.(NON) 124 77,527
77,527
Capital markets (2.4%)
S&P Global, Inc. 239 90,693
90,693
Chemicals (1.9%)
Sherwin-Williams Co. (The) 258 73,151
73,151
Entertainment (3.9%)
Live Nation Entertainment, Inc.(NON) 832 74,972
Walt Disney Co. (The)(NON) 401 71,639
146,611
Equity real estate investment trusts (REITs) (2.3%)
American Tower Corp. 335 85,579
85,579
Health-care equipment and supplies (5.9%)
Danaher Corp. 324 82,989
DexCom, Inc.(NON) 181 66,860
IDEXX Laboratories, Inc.(NON) 133 74,229
224,078
Health-care providers and services (3.5%)
UnitedHealth Group, Inc. 316 130,167
130,167
Hotels, restaurants, and leisure (4.6%)
Airbnb, Inc. Class A(NON) 449 63,040
Chipotle Mexican Grill, Inc.(NON) 37 50,763
DraftKings, Inc. Class A(NON) 1,157 57,792
171,595
Interactive media and services (10.5%)
Alphabet, Inc. Class A(NON) 106 249,826
Facebook, Inc. Class A(NON) 439 144,312
394,138
Internet and direct marketing retail (7.3%)
Amazon.com, Inc.(NON) 85 273,961
273,961
IT Services (9.7%)
Mastercard, Inc. Class A 391 140,987
PayPal Holdings, Inc.(NON) 564 146,651
Visa, Inc. Class A 335 76,146
363,784
Life sciences tools and services (0.9%)
IQVIA Holdings, Inc.(NON) 143 34,343
34,343
Machinery (1.4%)
Deere & Co. 143 51,637
51,637
Media (2.0%)
Charter Communications, Inc. Class A(NON) 106 73,620
73,620
Personal products (1.2%)
Estee Lauder Cos., Inc. (The) Class A 154 47,204
47,204
Professional services (1.9%)
CoStar Group, Inc.(NON) 85 72,590
72,590
Road and rail (0.9%)
Union Pacific Corp. 154 34,608
34,608
Semiconductors and semiconductor equipment (5.4%)
Applied Materials, Inc. 535 73,900
NVIDIA Corp. 199 129,306
203,206
Software (14.9%)
Adobe, Inc.(NON) 258 130,182
DocuSign, Inc.(NON) 335 67,543
Microsoft Corp. 1,407 351,300
ServiceNow, Inc.(NON) 29 13,743
562,768
Specialty retail (0.9%)
Home Depot, Inc. (The) 106 33,804
33,804
Technology hardware, storage, and peripherals (8.4%)
Apple, Inc. 2,525 314,640
314,640
Textiles, apparel, and luxury goods (2.7%)
Nike, Inc. Class B 736 100,435
100,435
Wireless telecommunication services (1.5%)
T-Mobile US, Inc.(NON) 412 58,276
58,276
TOTAL INVESTMENTS
Total investments (cost $3,677,073) $3,687,192












Notes to the fund's portfolio
Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from May 25, 2021 (commencement of operations) through May 31, 2021 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 Fair Value Measurements and Disclosures and references to "OTC", if any, represent over-the-counter.
(a) Percentages indicated are based on net assets of $3,763,240.
(NON) This security is non-income-producing.
Security valuation: Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund’s assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee.
Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security.
Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. Short-term securities with remaining maturities of 60 days or less are valued using an independent pricing service approved by the Trustees, and are classified as Level 2 securities.
To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs.
To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.








ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows:
Level 1: Valuations based on quoted prices for identical securities in active markets.
Level 2: Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
Level 3: Valuations based on inputs that are unobservable and significant to the fair value measurement.
The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period:
  Valuation inputs
Investments in securities: Level 1 Level 2 Level 3
Common stocks*:
Communication services $672,645 $— $—
Consumer discretionary 657,322 — —
Consumer staples 47,204 — —
Financials 90,693 — —
Health care 388,588 — —
Industrials 227,612 — —
Information technology 1,444,398 — —
Materials 73,151 — —
Real estate 85,579 — —
Total common stocks 3,687,192 — —
Totals by level $3,687,192 $— $—
* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation.
For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com