N-MFP2 0000822671 XXXXXXXX 2017-09-30 0000822671 S000003882 2 N N 033-17486 Putnam Investment Management, LLC 801-07974 Putnam Investment Limited 801-61441 PricewaterhouseCoopers, LLP Boston MA Not Applicable Putnam Investor Services, Inc. 0001448300 084-06331 N N N Exempt Government N 6 23 86306381.90 89457680.73 89278153.00 89354088.77 90621483.17 95150649.72 96950002.03 95770922.17 95847204.71 97564904.84 0.8338 0.8646 0.8679 0.8686 0.8818 0.9192 0.9371 0.9310 0.9317 0.9493 2932.16 102763906.79 102757118.85 76448.06 259814.08 102576684.99 102582831.4600 1.0000 0.0108 1.0001 1.0001 1.0000 1.0000 1.0000 C000010859 500.00 51572035.08 51574919.4100 1.0001 1.0001 1.0001 1.0001 1.0000 455570.83 450080.94 112537.22 457778.76 150223.73 301925.30 181639.35 216101.92 503118.86 283046.35 947519.16 1303243.80 0.0061 N C000010860 500.00 51004649.91 51007912.0500 1.0001 1.0000 1.0000 1.0000 1.0000 28081.48 628434.76 50845.11 278759.35 348613.16 113676.49 40761.63 273640.45 25700.28 57595.55 467571.09 750704.95 0.0036 N UNITED STATES OF AMERICA US TREASURY FRN 01.3248 01/31/2018 912828N97 US912828N977 U.S. Treasury Debt N 2017-09-30 2018-01-31 2018-01-31 N N N 0.0132 1151072.31 1151072.31 0.0112 N Y Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 01.2428 04/30/2018 912828Q86 US912828Q863 U.S. Treasury Debt N 2017-09-30 2018-04-30 2018-04-30 N N N 0.0124 1151312.51 1151312.51 0.0112 N Y Y N N/A FHLB FEDERAL HOME LOAN BANK 01.3020 12/05/2017 3130A8F32 US3130A8F321 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-10-05 2017-12-05 2017-12-05 N N N 0.0130 1400507.61 1400507.61 0.0137 N N N N N/A FNMA FANNIE MAE 01.2406 10/05/2017 3135G0F57 US3135G0F574 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-10-05 2017-10-05 2017-10-05 N N N 0.0124 1800032.63 1800032.63 0.0175 N N Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANK 01.2461 10/13/2017 3133EFJT5 US3133EFJT58 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-10-13 2017-10-13 2017-10-13 N N N 0.0125 1000062.75 1000062.75 0.0097 N N Y N N/A FHLB FEDERAL HOME LOAN BANK 01.3100 11/02/2017 3130A8X24 US3130A8X241 U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-10-02 2017-11-02 2017-11-02 N N N 0.0131 1250247.19 1250247.19 0.0122 N N Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 01.2268 07/31/2018 912828S84 US912828S844 U.S. Treasury Debt N 2017-09-30 2018-07-31 2018-07-31 N N N 0.0123 1001490.52 1001490.52 0.0098 N Y Y N N/A UNITED STATES OF AMERICA WI TREASURY SEC. 00.5103 10/31/2018 912828T75 US912828T750 U.S. Treasury Debt N 2017-09-30 2018-10-31 2018-10-31 N N N 0.0122 1001571.52 1001571.52 0.0098 N Y 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 694712.97 694712.97 0.0068 N N Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 11/09/2017 912796KX6 US912796KX60 U.S. Treasury Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-11-09 2017-11-09 2017-11-09 N N N 0.0075 998986.99 998986.99 0.0097 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 999167.00 999167.00 0.0097 N N Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313313NU8 GDC 11/03/2017 313313NU8 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2017-11-03 2017-11-03 2017-11-03 N N N 0.0083 899199.90 899199.90 0.0088 N N Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 01.1928 01/31/2019 912828V64 US912828V640 U.S. Treasury Debt N 2017-09-30 2019-01-31 2019-01-31 N N N 0.0119 1001604.39 1001604.39 0.0098 N Y Y N N/A FHLB FHLB 313385SP2 GDC 02/02/2018 313385SP2 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2018-02-02 2018-02-02 2018-02-02 N N N 0.0115 996207.00 996207.00 0.0097 N N N N N/A FHLB FHLB 313385UQ7 GDC 03/23/2018 313385UQ7 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2018-03-23 2018-03-23 2018-03-23 N N N 0.0117 348077.10 348077.10 0.0034 N N N N N/A FHLB FHLB 313385WB8 GDC 04/27/2018 313385WB8 NA U.S. Government Agency Debt N Moody's P-1 S&P A-1+ Fitch F1+ 2018-04-27 2018-04-27 2018-04-27 N N N 0.0121 198654.40 198654.40 0.0019 N N N N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 1.03 10/05/2017 TRIPARTY1 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N U.S. TREASURY 2027-07-15 0.3750% 1261889.72 1256502.33 U.S. Treasuries (including strips) U.S. TREASURY 2019-09-30 1.7500% 14503.03 14710.82 U.S. Treasuries (including strips) U.S. TREASURY 2018-03-15 1.0000% 60139.45 60106.18 U.S. Treasuries (including strips) U.S. TREASURY 2020-09-30 1.3750% 171154.13 171201.18 U.S. Treasuries (including strips) U.S. TREASURY 2017-09-30 1.8750% 494278.90 498897.33 U.S. Treasuries (including strips) U.S. TREASURY 2018-03-31 0.8750% 103740.55 104005.20 U.S. Treasuries (including strips) U.S. TREASURY 2022-04-30 1.7500% 494398.99 495577.89 U.S. Treasuries (including strips) N 2017-10-05 2017-10-05 2017-10-05 N N N 0.0103 2550000.00 2550000.00 0.0249 N N Y N N/A MERRILL LYNCH, PIERCE, FENNER AND SMITH REPO TRIPA MORTG 1.07 10/02/2017 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N GNMA 2046-04-20 3.5000% 11149251.20 10117434.33 Agency Mortgage-Backed Securities GNMA 2047-08-20 3.5000% 18014468.49 18769985.70 Agency Mortgage-Backed Securities N 2017-10-02 2017-10-02 2017-10-02 N N N 0.0107 28321000.00 28321000.00 0.2761 N Y Y N N/A GOLDMAN, SACHS & CO. REPO TRIPA MORTG 1.02 10/02/2017 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2033-02-01 6.0000% 147400.00 10352.86 Agency Mortgage-Backed Securities FMAC 2036-03-01 5.0000% 1577500.00 62899.85 Agency Mortgage-Backed Securities FMAC 2025-10-01 4.0000% 1000000.00 221568.61 Agency Mortgage-Backed Securities FMAC 2025-12-01 3.5000% 127448.00 26280.80 Agency Mortgage-Backed Securities FMAC 2040-11-01 5.0000% 11944928.00 4950746.09 Agency Mortgage-Backed Securities FMAC 2032-06-01 3.5000% 1001854.00 1046479.87 Agency Mortgage-Backed Securities FNMA 2042-02-01 4.0000% 9800000.00 4389484.90 Agency Mortgage-Backed Securities FNMA 2033-02-01 2.6670% 2725456.00 101040.06 Agency Mortgage-Backed Securities FNMA 2036-11-01 6.0000% 1000000.00 446897.11 Agency Mortgage-Backed Securities FNMA 2047-01-01 3.0000% 74858.00 72792.99 Agency Mortgage-Backed Securities FNMA 2046-09-01 3.5000% 13362304.00 13331736.85 Agency Mortgage-Backed Securities FNMA 2046-12-01 3.0000% 68754.00 67538.96 Agency Mortgage-Backed Securities FNMA 2037-02-01 5.0000% 90000.00 5970.60 Agency Mortgage-Backed Securities FNMA 2037-08-01 5.5000% 310000.00 65879.58 Agency Mortgage-Backed Securities FNMA 2038-01-01 2.2980% 25061472.00 3746918.64 Agency Mortgage-Backed Securities FNMA 2023-06-01 4.5000% 820428.00 13412.25 Agency Mortgage-Backed Securities N 2017-10-02 2017-10-02 2017-10-02 N N N 0.0102 28000000.00 28000000.00 0.2730 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 1.08 10/02/2017 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N U.S. TREASURY 2018-01-15 1.6250% 9659430.71 11401968.49 U.S. Treasuries (including strips) U.S. TREASURY 2020-01-15 1.3750% 2985682.99 3514798.28 U.S. Treasuries (including strips) U.S. TREASURY 2020-07-15 1.2500% 11618257.26 13643239.28 U.S. Treasuries (including strips) N 2017-10-02 2017-10-02 2017-10-02 N N N 0.0108 28000000.00 28000000.00 0.2730 N Y Y N N/A Putnam Variable Trust 2017-10-05 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer