N-MFP2 0000822671 XXXXXXXX 2019-07-31 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 13 56 79741184.99 75796159.10 76506010.48 74286513.71 0.00 81836537.74 77892544.93 78603429.40 76384965.71 0.00 0.8964 0.8489 0.8504 0.8307 0.0000 0.9199 0.8724 0.8738 0.8542 0.0000 4953.71 88460074.53 88459371.57 87305.22 333595.84 88218034.66 88222817.3600 1.0000 0.0252 1.0000 1.0000 1.0000 0.9999 C000010859 500.00 45281398.35 45283628.9300 1.0000 1.0000 1.0000 1.0000 876206.65 403049.41 1075788.74 747290.70 284835.54 325136.51 390237.00 454916.10 2627067.93 1930392.72 0.0199 N C000010860 500.00 42936636.31 42939188.4300 1.0000 1.0000 1.0000 0.9999 315933.78 134481.49 1322.99 336775.04 17629.17 284055.02 54677.82 369160.71 389563.76 1124472.26 0.0174 N FNMA FANNIE MAE 01.0000 10/24/2019 3135G0R39 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0.0065 N N Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 02.1239 07/31/2020 912828Y53 US912828Y537 U.S. Treasury Debt Y 2019-08-01 2020-07-31 2020-07-31 N N N 0.0209 998990.64 998990.64 0.0113 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 08/15/2019 912796QV4 US912796QV41 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-08-15 2019-08-15 2019-08-15 N N N 0.0259 899298.49 899298.49 0.0102 N Y Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313312KB5 GDC 08/06/2019 313312KB5 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-08-06 2019-08-06 2019-08-06 N N N 0.0263 899737.50 899737.50 0.0102 N N Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313312LF5 GDC 09/03/2019 313312LF5 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-09-03 2019-09-03 2019-09-03 N N N 0.0267 299417.00 299417.00 0.0034 N N Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313312PU8 GDC 11/27/2019 313312PU8 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-11-27 2019-11-27 2019-11-27 N N N 0.0271 297954.67 297954.67 0.0034 N N N N N/A UNITED STATES OF AMERICA US TREASURY FRN 02.1259 10/31/2020 9128285H9 US9128285H96 U.S. Treasury Debt Y 2019-08-01 2020-10-31 2020-10-31 N N N 0.0210 898685.02 898685.02 0.0102 N Y Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 02.1959 01/31/2021 9128285Y2 US9128285Y20 U.S. Treasury Debt Y 2019-08-01 2021-01-31 2021-01-31 N N N 0.0217 899191.72 899191.72 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 899947.50 899947.50 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 1098350.07 1098350.07 0.0125 N Y Y N N/A FED HOME LN DISCOUNT NT FED 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REPO TRIPA MORTG 2.54 08/01/2019 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2042-02-01 4.0000% 900415.35 410903.21 Agency Mortgage-Backed Securities FMAC 2049-05-01 3.5000% 1595855.39 1646690.92 Agency Mortgage-Backed Securities FMAC 2047-05-01 4.0000% 155267.92 135807.53 Agency Mortgage-Backed Securities FMAC 2048-08-01 4.5000% 78559.53 83559.59 Agency Mortgage-Backed Securities FMAC 2048-06-01 4.0000% 305131.76 283904.63 Agency Mortgage-Backed Securities FNMA 2041-03-01 5.0000% 162032.09 20253.22 Agency Mortgage-Backed Securities FNMA 2044-10-01 3.0000% 11442.44 7884.23 Agency Mortgage-Backed Securities FNMA 2030-06-01 3.5700% 261040.22 276814.87 Agency Mortgage-Backed Securities FNMA 2046-03-01 3.5000% 35868.34 25929.80 Agency Mortgage-Backed Securities FNMA 2047-02-01 4.0000% 14748.04 11177.13 Agency Mortgage-Backed Securities FNMA 2043-05-01 3.0000% 14968.14 7612.39 Agency Mortgage-Backed Securities FNMA 2043-09-01 4.5000% 1191053.76 516196.06 Agency Mortgage-Backed Securities FNMA 2033-11-01 3.5000% 52055.58 33162.06 Agency Mortgage-Backed Securities FNMA 2032-05-01 6.5000% 56137.02 1636.86 Agency Mortgage-Backed Securities FNMA 2036-01-01 5.0000% 62908.00 2322.61 Agency Mortgage-Backed Securities FNMA 2045-10-01 3.5000% 65043.92 44233.23 Agency Mortgage-Backed Securities FNMA 2045-11-01 4.0000% 5093.31 5017.29 Agency Mortgage-Backed Securities FNMA 2046-11-01 4.0000% 16689.79 10500.22 Agency Mortgage-Backed Securities FNMA 2046-03-01 3.0000% 14979.58 10737.99 Agency Mortgage-Backed Securities FNMA 2046-06-01 4.0000% 10180.62 8543.99 Agency Mortgage-Backed Securities FNMA 2046-09-01 3.0000% 15256.59 12030.03 Agency Mortgage-Backed Securities FNMA 2047-01-01 4.5000% 803882.24 655257.92 Agency Mortgage-Backed Securities FNMA 2046-07-01 3.5000% 138655.53 111619.06 Agency Mortgage-Backed Securities FNMA 2047-06-01 4.5000% 272856.14 247081.77 Agency Mortgage-Backed Securities FNMA 2032-08-01 3.0000% 224265.74 170985.25 Agency Mortgage-Backed Securities FNMA 2047-08-01 3.5000% 164295.65 149883.80 Agency Mortgage-Backed Securities FNMA 2048-04-01 4.0000% 1069293.98 1017324.24 Agency Mortgage-Backed Securities FNMA 2048-05-01 4.0000% 69754.34 67895.46 Agency Mortgage-Backed Securities FNMA 2048-05-01 4.5000% 1075933.65 1006402.84 Agency Mortgage-Backed Securities FNMA 2048-05-01 4.0000% 1073324.97 993921.37 Agency Mortgage-Backed Securities FNMA 2033-11-01 4.0000% 51060.65 52329.68 Agency Mortgage-Backed Securities FNMA 2048-11-01 4.0000% 108599.45 114384.34 Agency Mortgage-Backed Securities FNMA 2048-06-01 4.0000% 1036287.67 992536.30 Agency Mortgage-Backed Securities FNMA 2046-06-01 4.5000% 1423.95 1383.24 Agency Mortgage-Backed Securities FNMA 2041-07-01 5.5000% 2034.21 2002.51 Agency Mortgage-Backed Securities FNMA 2047-02-01 3.5000% 501963.72 486062.88 Agency Mortgage-Backed Securities FNMA 2049-02-01 4.0000% 2845562.79 2936520.19 Agency Mortgage-Backed Securities FNMA 2049-02-01 4.0000% 8245.88 8463.71 Agency Mortgage-Backed Securities FNMA 2048-01-01 4.0000% 253882.64 239383.51 Agency Mortgage-Backed Securities FNMA 2048-08-01 4.0000% 18307.91 16872.29 Agency Mortgage-Backed Securities FNMA 2049-05-01 3.5000% 5085529.36 5182111.82 Agency Mortgage-Backed Securities FNMA 2049-05-01 4.5000% 2484237.97 2603343.19 Agency Mortgage-Backed Securities FNMA 2048-01-01 4.0000% 65501.62 63961.54 Agency Mortgage-Backed Securities FNMA 2037-08-01 8.0000% 6356.91 1295.19 Agency Mortgage-Backed Securities FNMA 2038-06-01 4.5000% 50855.24 4919.59 Agency Mortgage-Backed Securities FNMA 2039-06-01 4.5000% 254276.47 31927.85 Agency Mortgage-Backed Securities FNMA 2040-12-01 3.0000% 5085.48 3332.37 Agency Mortgage-Backed Securities FNMA 2037-08-01 5.5000% 77504.69 10530.47 Agency Mortgage-Backed Securities FNMA 2037-10-01 6.5000% 40684.18 1977.33 Agency Mortgage-Backed Securities FNMA 2038-02-01 5.5000% 48217.18 6289.74 Agency Mortgage-Backed Securities FNMA 2038-02-01 7.5000% 27797.50 1709.85 Agency Mortgage-Backed Securities FNMA 2038-08-01 5.5000% 22059.40 2559.93 Agency Mortgage-Backed Securities FNMA 2036-09-01 5.5000% 40684.23 2386.66 Agency Mortgage-Backed Securities FNMA 2038-06-01 4.5000% 40911.66 2652.35 Agency Mortgage-Backed Securities FNMA 2039-06-01 4.6900% 432467.77 29075.69 Agency Mortgage-Backed Securities FNMA 2041-03-01 5.0000% 8492.83 2094.70 Agency Mortgage-Backed Securities FNMA 2041-04-01 5.0000% 1237044.85 154486.85 Agency Mortgage-Backed Securities FNMA 2042-09-01 3.5000% 2041521.89 981953.93 Agency Mortgage-Backed Securities FNMA 2042-12-01 3.0000% 967918.63 521168.73 Agency Mortgage-Backed Securities FNMA 2043-03-01 3.0000% 3076.13 1657.90 Agency Mortgage-Backed Securities FNMA 2040-06-01 5.0000% 11092.20 2304.25 Agency Mortgage-Backed Securities FNMA 2032-11-01 2.5000% 10679.61 4615.08 Agency Mortgage-Backed Securities Y 2019-08-01 2019-08-01 2019-08-01 N N N 0.0254 22000000.00 22000000.00 0.2494 N Y Y N N/A BofA Securities, Inc. REPO TRIPA MORTG 2.56 08/01/2019 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2049-04-01 4.5000% 4041291.61 4177183.64 Agency Mortgage-Backed Securities FNMA 2049-07-01 3.5000% 17895734.03 18296476.45 Agency Mortgage-Backed Securities Y 2019-08-01 2019-08-01 2019-08-01 N N N 0.0256 22033000.00 22033000.00 0.2498 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 2.53 08/01/2019 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 2021-02-15 7.8750% 652522.35 734201.76 U.S. Treasuries (including strips) U.S. TREASURY 2020-12-15 1.8750% 1173.12 1174.74 U.S. Treasuries (including strips) U.S. TREASURY 2021-01-15 2.0000% 1100618.48 1102654.15 U.S. Treasuries (including strips) U.S. TREASURY 2021-02-15 2.2500% 16714.97 16968.33 U.S. Treasuries (including strips) U.S. TREASURY 2020-12-31 2.5000% 3023099.66 3052744.11 U.S. Treasuries (including strips) U.S. TREASURY 2021-01-31 2.1660% 3758414.80 3777171.72 U.S. Treasuries (including strips) U.S. TREASURY 2021-02-28 2.5000% 3330493.15 3394918.29 U.S. Treasuries (including strips) U.S. TREASURY 2020-11-30 2.0000% 1013.51 1017.53 U.S. Treasuries (including strips) U.S. TREASURY 2020-12-31 2.3750% 7289667.18 7347843.68 U.S. Treasuries (including strips) U.S. TREASURY 2021-01-31 2.1250% 159608.23 160056.73 U.S. Treasuries (including strips) U.S. TREASURY 2021-01-31 2.1250% 444161.78 445409.88 U.S. Treasuries (including strips) U.S. TREASURY 2020-12-31 1.7500% 59936.88 59856.82 U.S. Treasuries (including strips) U.S. TREASURY 2021-01-15 1.1250% 1995102.93 2346231.78 U.S. Treasuries (including strips) Y 2019-08-01 2019-08-01 2019-08-01 N N N 0.0253 22000000.00 22000000.00 0.2494 N Y Y N N/A Putnam Variable Trust 2019-08-06 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer