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FREDDIE MAC 05.0000 04/18/2017 3137EAAS8 US3137EAAS83 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch NR 2017-04-18 2017-04-18 2017-04-18 N N N 0.0049 711720.77 711720.77 0.0065 N N N N N/A FNMA FANNIE MAE 01.1250 04/27/2017 3135G0JA2 US3135G0JA28 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-04-27 2017-04-27 2017-04-27 N N N 0.0050 692977.80 692977.80 0.0064 N N N N N/A FHLMC FREDDIE MAC 01.0000 09/29/2017 3137EADL0 US3137EADL04 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-09-29 2017-09-29 2017-09-29 N N N 0.0080 1402630.60 1402630.60 0.0129 N N N N N/A FNMA FANNIE MAE 00.7500 04/20/2017 3135G0ZB2 US3135G0ZB27 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-04-20 2017-04-20 2017-04-20 N N N 0.0054 1295581.46 1295581.46 0.0119 N N N N N/A FHLMC FREDDIE MAC 00.7500 05/26/2017 3134G6R70 US3134G6R700 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-05-26 2017-05-26 2017-05-26 N N N 0.0054 1000583.00 1000583.00 0.0092 N N N N N/A FHLMC FREDDIE MAC 00.7500 07/14/2017 3137EADV8 US3137EADV85 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-07-14 2017-07-14 2017-07-14 N N N 0.0074 1000534.00 1000534.00 0.0092 N N N N N/A FHLB FHLB 313385BS4 GDC 02/10/2017 313385BS4 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-02-10 2017-02-10 2017-02-10 N N N 0.0061 1624837.50 1624837.50 0.0150 N N Y N N/A FNMA FANNIE MAE 00.7756 09/08/2017 3135G0E66 US3135G0E668 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-02-08 2017-09-08 2017-09-08 N N N 0.0078 1151228.20 1151228.20 0.0106 N N N N N/A UNITED STATES OF AMERICA US TREASURY FRN 00.7877 01/31/2018 912828N97 US912828N977 U.S. Treasury Debt N 2017-02-01 2018-01-31 2018-01-31 N N N 0.0078 1152765.75 1152765.75 0.0106 N Y Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 00.7057 04/30/2018 912828Q86 US912828Q863 U.S. Treasury Debt N 2017-02-01 2018-04-30 2018-04-30 N N N 0.0070 1151868.75 1151868.75 0.0106 N Y Y N N/A FHLB FEDERAL HOME LOAN BANK 00.8430 12/05/2017 3130A8F32 US3130A8F321 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-02-05 2017-12-05 2017-12-05 N N N 0.0084 1402268.00 1402268.00 0.0129 N N N N N/A FHLMC FREDDIE MAC 00.7817 04/20/2017 3134G72G5 US3134G72G51 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-02-20 2017-04-20 2017-04-20 N N N 0.0078 500282.50 500282.50 0.0046 N N N N N/A FNMA FANNIE MAE 00.7833 10/05/2017 3135G0F57 US3135G0F574 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-02-05 2017-10-05 2017-10-05 N N N 0.0078 1801947.60 1801947.60 0.0166 N N N N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANK 00.7772 10/13/2017 3133EFJT5 US3133EFJT58 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-02-13 2017-10-13 2017-10-13 N N N 0.0078 1001215.00 1001215.00 0.0092 N N N N N/A FHLB FEDERAL HOME LOAN BANK 00.9280 09/07/2017 3130A7FS9 US3130A7FS94 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-03-07 2017-09-07 2017-09-07 N N N 0.0093 1002477.00 1002477.00 0.0092 N N N N N/A FHLB FEDERAL HOME LOAN BANK 00.8540 11/02/2017 3130A8X24 US3130A8X241 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-02-02 2017-11-02 2017-11-02 N N N 0.0085 1252198.75 1252198.75 0.0115 N N N N N/A UNITED STATES OF AMERICA US TREASURY FRN 00.6897 07/31/2018 912828S84 US912828S844 U.S. Treasury Debt N 2017-02-01 2018-07-31 2018-07-31 N N N 0.0068 1001224.00 1001224.00 0.0092 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 03/09/2017 912796KM0 US912796KM06 U.S. Treasury Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-03-09 2017-03-09 2017-03-09 N N N 0.0054 999529.00 999529.00 0.0092 N Y Y N N/A FHLMC FHLMC 313397FQ9 GDC 05/15/2017 313397FQ9 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-05-15 2017-05-15 2017-05-15 N N N 0.0049 998455.00 998455.00 0.0092 N N N N N/A FHLMC FHLMC 313397LD1 GDC 09/01/2017 313397LD1 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-09-01 2017-09-01 2017-09-01 N N N 0.0062 333737.39 333737.39 0.0031 N N N N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313313HF8 GDC 06/23/2017 313313HF8 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-06-23 2017-06-23 2017-06-23 N N N 0.0053 997831.00 997831.00 0.0092 N N N N N/A FHLMC FHLMC 313397GF2 GDC 05/30/2017 313397GF2 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-05-30 2017-05-30 2017-05-30 N N N 0.0049 998230.00 998230.00 0.0092 N N N N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313313LJ5 GDC 09/06/2017 313313LJ5 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-09-06 2017-09-06 2017-09-06 N N N 0.0065 996142.00 996142.00 0.0092 N N N N N/A UNITED STATES OF AMERICA WI TREASURY SEC. 00.5103 10/31/2018 912828T75 US912828T750 U.S. Treasury Debt N 2017-02-01 2018-10-31 2018-10-31 N N N 0.0068 1000908.00 1000908.00 0.0092 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 04/20/2017 912796KT5 US912796KT58 U.S. Treasury Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-04-20 2017-04-20 2017-04-20 N N N 0.0057 998955.00 998955.00 0.0092 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 05/11/2017 912796KY4 US912796KY44 U.S. Treasury Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-05-11 2017-05-11 2017-05-11 N N N 0.0055 998646.00 998646.00 0.0092 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 05/04/2017 912796KU2 US912796KU22 U.S. Treasury Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-05-04 2017-05-04 2017-05-04 N N N 0.0059 998693.00 998693.00 0.0092 N Y Y N N/A FHLMC FHLMC 313397BZ3 GDC 02/17/2017 313397BZ3 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-02-17 2017-02-17 2017-02-17 N N N 0.0050 999822.00 999822.00 0.0092 N N Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313313NB0 GDC 10/17/2017 313313NB0 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-10-17 2017-10-17 2017-10-17 N N N 0.0081 691662.61 691662.61 0.0064 N N N N N/A FHLMC FHLMC 313397DP3 GDC 03/27/2017 313397DP3 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-03-27 2017-03-27 2017-03-27 N N N 0.0055 999235.00 999235.00 0.0092 N N Y N N/A FHLB FHLB 313385CN4 GDC 03/02/2017 313385CN4 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-03-02 2017-03-02 2017-03-02 N N N 0.0053 349856.15 349856.15 0.0032 N N Y N N/A FANNIE MAE DISCOUNT NOTES FANNIE MAE DISCOUNT NOTES 313589HR7 GDC 07/03/2017 313589HR7 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-07-03 2017-07-03 2017-07-03 N N N 0.0065 698138.00 698138.00 0.0064 N N N N N/A FANNIE MAE DISCOUNT NOTES FANNIE MAE DISCOUNT NOTES 313589JQ7 GDC 07/26/2017 313589JQ7 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-07-26 2017-07-26 2017-07-26 N N N 0.0062 996938.00 996938.00 0.0092 N N N N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 0.55 02/02/2017 TRIPARTY1 U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash Y N FMAC 2038-08-01 3.1200% 331027.24 39282.83 Agency Mortgage-Backed Securities FMAC 2037-04-01 2.6520% 254897.19 38697.91 Agency Mortgage-Backed Securities FMAC 2037-04-01 3.3050% 224681.44 42452.50 Agency Mortgage-Backed Securities FMAC 2037-05-01 3.3210% 188125.43 45396.92 Agency Mortgage-Backed Securities FMAC 2037-02-01 3.1180% 725806.45 36548.91 Agency Mortgage-Backed Securities FMAC 2036-07-01 2.7530% 1046492.91 26546.75 Agency Mortgage-Backed Securities FMAC 2042-05-01 3.5000% 53253.22 37787.01 Agency Mortgage-Backed Securities FMAC 2040-06-01 5.5000% 123233.91 41440.87 Agency Mortgage-Backed Securities FMAC 2045-05-01 3.0680% 58064.52 47287.47 Agency Mortgage-Backed Securities FMAC 2046-07-01 4.5000% 49356.48 41050.23 Agency Mortgage-Backed Securities FNMA 2022-10-01 2.7380% 47177.42 43993.94 Agency Mortgage-Backed Securities FNMA 2022-08-01 2.5310% 43548.39 40577.22 Agency Mortgage-Backed Securities FNMA 2042-02-01 2.5300% 145449.09 43281.70 Agency Mortgage-Backed Securities FNMA 2038-11-01 2.9900% 147120.97 38862.91 Agency Mortgage-Backed Securities FNMA 2039-07-01 6.0000% 88519.35 36524.61 Agency Mortgage-Backed Securities FNMA 2045-01-01 4.0000% 47775.70 36510.89 Agency Mortgage-Backed Securities FNMA 2020-06-01 1.6010% 40645.16 36990.01 Agency Mortgage-Backed Securities FNMA 2023-08-01 3.6270% 38467.74 38347.01 Agency Mortgage-Backed Securities FNMA 2020-10-01 3.2130% 41588.71 40859.98 Agency Mortgage-Backed Securities FNMA 2025-01-01 3.3270% 41370.97 41079.41 Agency Mortgage-Backed Securities FNMA 2026-10-01 2.3350% 48952.34 46053.42 Agency Mortgage-Backed Securities FNMA 2042-06-01 2.5590% 143471.25 42736.16 Agency Mortgage-Backed Securities FNMA 2042-09-01 2.5840% 152419.35 43639.75 Agency Mortgage-Backed Securities FNMA 2022-07-01 2.5440% 40383.87 40124.73 Agency Mortgage-Backed Securities FNMA 2044-04-01 4.0000% 51643.79 36239.23 Agency Mortgage-Backed Securities FNMA 2043-10-01 4.0000% 14171.69 10998.89 Agency Mortgage-Backed Securities FNMA 2044-09-01 2.7230% 88997.23 42601.09 Agency Mortgage-Backed Securities FNMA 2033-08-01 2.7800% 783211.04 42755.35 Agency Mortgage-Backed Securities FNMA 2033-07-01 2.7370% 528285.48 46565.66 Agency Mortgage-Backed Securities FNMA 2044-09-01 1.8480% 495763.69 44091.15 Agency Mortgage-Backed Securities FNMA 2034-04-01 5.0000% 362903.23 36587.64 Agency Mortgage-Backed Securities FNMA 2035-01-01 2.6820% 312693.66 33876.59 Agency Mortgage-Backed Securities FNMA 2030-10-01 3.5000% 40221.89 36707.65 Agency Mortgage-Backed Securities FNMA 2031-07-01 3.0000% 37478.41 37036.03 Agency Mortgage-Backed Securities FNMA 2046-02-01 4.0000% 39642.88 36140.28 Agency Mortgage-Backed Securities FNMA 2046-03-01 4.0000% 35303.11 36774.10 Agency Mortgage-Backed Securities FNMA 2031-07-01 3.0000% 37046.87 37031.48 Agency Mortgage-Backed Securities FNMA 2046-08-01 4.0000% 35206.13 37102.75 Agency Mortgage-Backed Securities FNMA 2046-08-01 4.0000% 34294.75 36173.54 Agency Mortgage-Backed Securities FNMA 2036-09-01 4.0000% 35155.10 37263.92 Agency Mortgage-Backed Securities FNMA 2046-11-01 4.0000% 38691.64 37155.71 Agency Mortgage-Backed Securities FNMA 2047-01-01 3.5000% 35415.73 36338.61 Agency Mortgage-Backed Securities FNMA 2046-11-01 3.5000% 36043.11 36926.20 Agency Mortgage-Backed Securities FNMA 2037-07-01 2.7990% 262490.52 36510.96 Agency Mortgage-Backed Securities FNMA 2046-09-01 1.8480% 206516.54 43370.71 Agency Mortgage-Backed Securities FNMA 2037-05-01 2.3260% 322194.34 42923.09 Agency Mortgage-Backed Securities FNMA 2038-03-01 2.2190% 211935.48 36814.11 Agency Mortgage-Backed Securities FNMA 2041-07-01 5.0000% 31311.58 11267.19 Agency Mortgage-Backed Securities FNMA 2039-08-01 5.5000% 130274.10 36916.60 Agency Mortgage-Backed Securities FNMA 2039-08-01 4.2490% 145685.26 37462.84 Agency Mortgage-Backed Securities FNMA 2039-12-01 3.4420% 290819.40 45853.30 Agency Mortgage-Backed Securities FNMA 2028-08-01 2.5000% 55151.30 36562.69 Agency Mortgage-Backed Securities FNMA 2044-06-01 5.0000% 38007.81 36297.27 Agency Mortgage-Backed Securities FNMA 2040-06-01 5.5000% 118873.63 36879.30 Agency Mortgage-Backed Securities FNMA 2040-11-01 4.0000% 72491.21 36963.07 Agency Mortgage-Backed Securities GNMA 2045-07-15 3.0000% 78459.69 67764.76 Agency Mortgage-Backed Securities GNMA 2045-08-15 3.5000% 9963.17 10113.32 Agency Mortgage-Backed Securities GNMA 2045-06-15 4.0000% 43073.71 45151.46 Agency Mortgage-Backed Securities GNMA 2045-11-15 4.5000% 23868.78 19317.00 Agency Mortgage-Backed Securities GNMA 2045-11-15 4.5000% 18977.37 14738.48 Agency Mortgage-Backed Securities GNMA 2046-01-15 5.5000% 11133.15 5662.69 Agency Mortgage-Backed Securities GNMA 2046-02-15 4.5000% 34636.65 29992.17 Agency Mortgage-Backed Securities N 2017-02-02 2017-02-02 2017-02-02 N N N 0.0055 2250000.00 2250000.00 0.0207 N N Y N N/A GOLDMAN, SACHS & CO. REPO TRIPA MORTG 0.55 02/01/2017 TRIPARTY2 U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash Y N FMAC 2027-04-01 3.0000% 11530143.00 5133190.62 Agency Mortgage-Backed Securities FMAC 2041-11-01 4.0000% 15769020.00 7007014.12 Agency Mortgage-Backed Securities FNMA 2041-03-01 4.0000% 11781418.00 6444913.44 Agency Mortgage-Backed Securities FNMA 2027-02-01 3.0000% 12357420.00 5894882.00 Agency Mortgage-Backed Securities N 2017-02-01 2017-02-01 2017-02-01 N N N 0.0055 24000000.00 24000000.00 0.2209 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 0.56 02/01/2017 TRIPARTY2 U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash Y N U.S. TREASURY 2021-11-15 2.0000% 7797656.27 7850322.76 U.S. Treasuries (including strips) U.S. TREASURY 2023-12-31 2.2500% 7750114.93 7753887.65 U.S. Treasuries (including strips) U.S. TREASURY 2020-01-15 1.3750% 6470417.74 6456155.22 U.S. Treasuries (including strips) U.S. TREASURY 2018-07-31 1.3750% 2959166.86 2973501.07 U.S. Treasuries (including strips) N 2017-02-01 2017-02-01 2017-02-01 N N N 0.0056 24543000.00 24543000.00 0.2259 N Y Y N N/A MERRILL LYNCH, PIERCE, FENNER AND SMITH REPO TRIPA MORTG 0.55 02/01/2017 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2047-01-01 3.0000% 17231163.07 17067966.72 Agency Mortgage-Backed Securities FMAC 2030-02-01 2.5000% 9852787.25 7139623.10 Agency Mortgage-Backed Securities FMAC 2030-05-01 2.5000% 344739.81 272410.22 Agency Mortgage-Backed Securities N 2017-02-01 2017-02-01 2017-02-01 N N N 0.0055 24000000.00 24000000.00 0.2209 N Y Y N N/A FHLMC FHLMC 313397NS6 GDC 11/01/2017 313397NS6 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-11-01 2017-11-01 2017-11-01 N N N 0.0075 994388.00 994388.00 0.0092 N N N N N/A Putnam Variable Trust 2017-02-06 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer