N-MFP2 0000822671 XXXXXXXX 2019-06-30 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 16 41 80360901.50 78353594.11 77897781.57 78311178.70 83266245.88 81260361.06 81555974.86 80970668.25 0.8956 0.8742 0.8763 0.8871 0.9280 0.9067 0.9175 0.9172 4929.88 88363139.69 88358045.16 93025.65 356676.76 88099323.93 88105041.5500 1.0000 0.0253 1.0000 1.0000 1.0000 1.0000 C000010859 500.00 44434776.28 44437486.9200 1.0000 1.0000 1.0000 1.0000 244272.14 1029016.90 506870.37 646686.98 467279.03 1056534.29 235213.41 358814.47 1453634.95 3091052.64 0.0200 N C000010860 500.00 43664547.65 43667554.6300 1.0000 1.0000 1.0000 1.0000 183665.81 40529.81 20446.09 458002.15 789.55 344618.73 307425.63 128677.72 512327.08 971828.41 0.0175 N FNMA FANNIE MAE 01.0000 10/24/2019 3135G0R39 US3135G0R397 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-10-24 2019-10-24 2019-10-24 N N N 0.0256 1345017.45 1345017.45 0.0153 N N N N N/A FHLMC FREDDIE MAC 01.6250 10/25/2019 3134GBHT2 US3134GBHT28 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-10-25 2019-10-25 2019-10-25 N N N 0.0256 1347568.10 1347568.10 0.0153 N N N N N/A FHLB FEDERAL HOME LOAN BANK 01.5000 10/21/2019 3130ACM92 US3130ACM925 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-10-21 2019-10-21 2019-10-21 N N N 0.0256 1347086.48 1347086.48 0.0153 N N N N N/A UNITED STATES OF AMERICA US TREASURY FRN 02.1290 04/30/2020 9128284K3 US9128284K35 U.S. Treasury Debt Y 2019-06-29 2020-04-30 2020-04-30 N N N 0.0213 999408.46 999408.46 0.0113 N Y Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANK 02.5803 08/19/2019 3133EGRQ0 US3133EGRQ01 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-07-19 2019-08-19 2019-08-19 N N N 0.0258 575159.42 575159.42 0.0065 N N Y N N/A UNITED STATES 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AMERICA US TREASURY FRN 02.2110 01/31/2021 9128285Y2 US9128285Y20 U.S. Treasury Debt Y 2019-06-29 2021-01-31 2021-01-31 N N N 0.0221 899176.75 899176.75 0.0102 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384JX8 GDC 08/02/2019 313384JX8 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-08-02 2019-08-02 2019-08-02 N N N 0.0247 898232.00 898232.00 0.0102 N N Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 08/29/2019 912796SF7 US912796SF72 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-08-29 2019-08-29 2019-08-29 N N N 0.0252 1096214.16 1096214.16 0.0124 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 09/05/2019 912796SG5 US912796SG55 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-09-05 2019-09-05 2019-09-05 N N N 0.0253 896547.38 896547.38 0.0102 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384ME6 GDC 09/26/2019 313384ME6 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-09-26 2019-09-26 2019-09-26 N N N 0.0248 248695.00 248695.00 0.0028 N N N N N/A UNITED STATES OF AMERICA US TREASURY FRN 02.2350 04/30/2021 9128286Q8 US9128286Q86 U.S. Treasury Debt Y 2019-06-29 2021-04-30 2021-04-30 N N N 0.0224 899283.20 899283.20 0.0102 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384PM5 GDC 11/20/2019 313384PM5 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-11-20 2019-11-20 2019-11-20 N N N 0.0219 1190060.00 1190060.00 0.0135 N N N N N/A FREDDIE MAC DISCOUNT NOTES FREDDIE MAC DISCOUNT NOTES 313396PD9 GDC 11/12/2019 313396PD9 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-11-12 2019-11-12 2019-11-12 N N N 0.0217 744137.50 744137.50 0.0084 N N N N N/A HSBC SECURITIES (USA), INC. REPO TRIPA MORTG 2.52 07/01/2019 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2045-11-01 3.5000% 58785.47 36335.54 Agency Mortgage-Backed Securities FMAC 2043-04-01 3.5000% 328789.89 155141.49 Agency Mortgage-Backed Securities FMAC 2043-08-01 3.0000% 149952.51 75467.10 Agency Mortgage-Backed Securities FMAC 2044-05-01 4.0000% 73833.98 58845.34 Agency Mortgage-Backed Securities FMAC 2047-01-01 3.5000% 6432310.18 5086365.41 Agency Mortgage-Backed Securities FNMA 2026-04-01 4.5000% 221900.67 42401.09 Agency Mortgage-Backed Securities FNMA 2041-06-01 4.5000% 890089.81 197469.85 Agency Mortgage-Backed Securities FNMA 2026-07-01 4.5000% 106468.40 26637.83 Agency Mortgage-Backed Securities FNMA 2042-04-01 4.0000% 323468.82 228237.16 Agency Mortgage-Backed Securities FNMA 2041-12-01 3.5000% 2844880.44 576082.65 Agency Mortgage-Backed Securities FNMA 2026-09-01 4.0000% 13655.43 2392.00 Agency Mortgage-Backed Securities FNMA 2042-11-01 3.5000% 3447995.10 1575684.19 Agency Mortgage-Backed Securities FNMA 2033-03-01 3.5600% 453075.66 486070.44 Agency Mortgage-Backed Securities FNMA 2033-05-01 3.5800% 291770.94 313844.58 Agency Mortgage-Backed Securities FNMA 2033-06-01 3.6700% 583314.29 619154.59 Agency Mortgage-Backed Securities FNMA 2033-08-01 3.7900% 114364.19 125625.35 Agency Mortgage-Backed Securities FNMA 2045-02-01 3.5000% 11948.50 7150.93 Agency Mortgage-Backed Securities FNMA 2044-11-01 5.0000% 83923.97 21458.68 Agency Mortgage-Backed Securities FNMA 2045-12-01 3.5000% 651345.62 549445.55 Agency Mortgage-Backed Securities FNMA 2043-03-01 4.0000% 97701.27 67726.56 Agency Mortgage-Backed Securities FNMA 2028-06-01 2.5000% 54503.02 22038.36 Agency Mortgage-Backed Securities FNMA 2043-05-01 3.5000% 2269783.08 1497189.53 Agency Mortgage-Backed Securities FNMA 2047-04-01 4.0000% 695157.92 571225.83 Agency Mortgage-Backed Securities FNMA 2047-07-01 3.5000% 2560.39 2262.86 Agency Mortgage-Backed Securities FNMA 2047-07-01 4.0000% 1076406.26 927590.95 Agency Mortgage-Backed Securities FNMA 2048-02-01 3.5000% 785574.82 788086.02 Agency Mortgage-Backed Securities FNMA 2049-05-01 5.0000% 86010.98 93906.53 Agency Mortgage-Backed Securities FNMA 2048-03-01 4.0000% 81405.23 84772.86 Agency Mortgage-Backed Securities FNMA 2048-11-01 4.0000% 306038.13 298406.62 Agency Mortgage-Backed Securities FNMA 2030-11-01 3.8600% 281700.06 314364.59 Agency Mortgage-Backed Securities FNMA 2033-10-01 4.0300% 227590.44 255794.69 Agency Mortgage-Backed Securities FNMA 2031-01-01 3.9300% 113795.22 127359.89 Agency Mortgage-Backed Securities FNMA 2034-02-01 3.9600% 677058.79 760022.86 Agency Mortgage-Backed Securities FNMA 2034-01-01 4.0600% 281700.06 317097.65 Agency Mortgage-Backed Securities FNMA 2038-11-01 4.5000% 95737.51 98687.77 Agency Mortgage-Backed Securities FNMA 2048-07-01 4.0000% 2844880.44 2895766.24 Agency Mortgage-Backed Securities FNMA 2049-04-01 4.0000% 612673.45 643883.52 Agency Mortgage-Backed Securities FNMA 2048-08-01 4.0000% 204982.51 203337.43 Agency Mortgage-Backed Securities FNMA 2048-09-01 3.5000% 755336.24 771777.74 Agency Mortgage-Backed Securities FNMA 2049-04-01 4.5000% 1708544.16 1846860.73 Agency Mortgage-Backed Securities FNMA 2034-10-01 5.0000% 163296.14 7794.91 Agency Mortgage-Backed Securities FNMA 2037-02-01 6.0000% 7203.41 1859.82 Agency Mortgage-Backed Securities FNMA 2041-04-01 5.0000% 1384022.96 172716.46 Agency Mortgage-Backed Securities FNMA 2042-12-01 3.0000% 1082920.81 589224.45 Agency Mortgage-Backed Securities FNMA 2025-04-01 4.5000% 765636.98 125404.78 Agency Mortgage-Backed Securities Y 2019-07-01 2019-07-01 2019-07-01 N N N 0.0252 23200000.00 23200000.00 0.2633 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 2.51 07/01/2019 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 2022-11-15 7.6250% 24145.78 28998.14 U.S. Treasuries (including strips) U.S. TREASURY 2022-09-30 1.8750% 1620.39 1635.17 U.S. Treasuries (including strips) U.S. TREASURY 2022-10-31 2.0000% 212566.17 215038.63 U.S. Treasuries (including strips) U.S. TREASURY 2023-01-31 2.3750% 13686.88 14121.96 U.S. Treasuries (including strips) U.S. TREASURY 2023-04-15 0.6250% 713818.56 743625.54 U.S. Treasuries (including strips) U.S. TREASURY 2022-09-30 1.7500% 4195.09 4214.31 U.S. Treasuries (including strips) U.S. TREASURY 2022-11-30 2.0000% 12290697.53 12415891.25 U.S. Treasuries (including strips) U.S. TREASURY 2022-12-31 2.1250% 4438462.76 4544278.36 U.S. Treasuries (including strips) U.S. TREASURY 2023-01-15 0.1250% 1746162.94 1922168.05 U.S. Treasuries (including strips) U.S. TREASURY 2023-02-15 2.0000% 3713474.37 3774850.92 U.S. Treasuries (including strips) Y 2019-07-01 2019-07-01 2019-07-01 N N N 0.0251 23200000.00 23200000.00 0.2633 N Y Y N N/A BofA Securities, Inc. REPO TRIPA MORTG 2.5 07/01/2019 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N GNMA 2047-06-20 4.0000% 32655476.96 23895540.02 Agency Mortgage-Backed Securities Y 2019-07-01 2019-07-01 2019-07-01 N N N 0.0250 23427000.00 23427000.00 0.2659 N Y Y N N/A Putnam Variable Trust 2019-07-05 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer