N-MFP2 0000822671 XXXXXXXX 2021-12-31 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 Government/Agency Exempt Government N 33 50 66588786.68 62941737.52 63267680.06 63954806.03 63856688.77 67138100.75 63490809.52 63816510.00 64503497.64 64405103.74 0.8463 0.8389 0.8396 0.8410 0.8408 0.8533 0.8462 0.8468 0.8482 0.8480 280.68 75124741.61 75129056.95 431480.41 202117.92 75358700.12 75358849.2700 1.0000 0.0008 1.0000 1.0000 1.0000 1.0000 0.9999 C000010859 500.00 40993880.97 40993692.3800 1.0000 1.0000 1.0000 1.0000 0.9999 1147.76 434967.36 359928.97 3793980.49 803542.37 250913.53 620334.59 220791.50 531407.46 620216.92 2316340.58 4943548.48 0.0001 Y Putnam Investment Management, LLC Voluntary Expense Waiver 12900.88 C000010860 500.00 34364819.15 34365156.8900 1.0000 1.0000 1.0000 0.9999 0.9999 108676.51 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2022-07-25 2022-07-25 2022-07-25 N N N 0.0007 849555.97 849555.97 0.0113 N N N N N/A FHLB FEDERAL HOME LOAN BANK 00.1250 08/12/2022 3130AJY52 US3130AJY529 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-08-12 2022-08-12 2022-08-12 N N N 0.0012 799363.82 799363.82 0.0106 N N N N N/A FHLMC FREDDIE MAC 00.1450 08/19/2022 3134GW2U9 US3134GW2U94 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-01-01 2022-08-19 2022-08-19 N N N 0.0015 750135.98 750135.98 0.0100 N N N N N/A FEDERAL FARM CREDIT BANKS FUNDING CORP FEDERAL FARM CREDIT BANK 00.1100 01/20/2023 3133EMNH1 US3133EMNH16 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-01-01 2023-01-20 2023-01-20 N N N 0.0011 750355.86 750355.86 0.0100 N N N N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 05/19/2022 912796H44 US912796H440 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-05-19 2022-05-19 2022-05-19 N N N 0.0011 849686.11 849686.11 0.0113 N Y Y N N/A FEDERAL FARM CREDIT BANKS FUNDING CORP FEDERAL FARM CREDIT BANK 00.3700 06/09/2023 3133ELH72 US3133ELH724 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-01-01 2023-06-09 2023-06-09 N N N 0.0037 853622.03 853622.03 0.0113 N N N N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 06/16/2022 912796J42 US912796J420 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-06-16 2022-06-16 2022-06-16 N N N 0.0014 749551.56 749551.56 0.0099 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 08/11/2022 912796L64 US912796L640 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-08-11 2022-08-11 2022-08-11 N N N 0.0011 749094.80 749094.80 0.0099 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 09/08/2022 912796M71 US912796M713 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-09-08 2022-09-08 2022-09-08 N N N 0.0008 798786.64 798786.64 0.0106 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 10/06/2022 912796M89 US912796M895 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-10-06 2022-10-06 2022-10-06 N N N 0.0010 798428.34 798428.34 0.0106 N Y Y N N/A FHLB FEDERAL HOME LOAN BANK 00.0700 09/28/2022 3130APCM5 US3130APCM57 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-09-28 2022-09-28 2022-09-28 N N N 0.0013 798984.25 798984.25 0.0106 N N N N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 11/03/2022 912796N96 US912796N968 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-11-03 2022-11-03 2022-11-03 N N N 0.0022 848102.67 848102.67 0.0113 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 06/23/2022 912796R43 US912796R431 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-06-23 2022-06-23 2022-06-23 N N N 0.0016 749403.28 749403.28 0.0099 N Y Y N N/A BofA Securities, Inc. REPO TRIPA MORTG 0.05 01/03/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N GNMA 2047-03-20 3.5000% 33910057.93 8028055.59 Agency Mortgage-Backed Securities GNMA 2050-06-20 3.0000% 23468166.52 11873164.41 Agency Mortgage-Backed Securities Y 2022-01-03 2022-01-03 2022-01-03 N N N 0.0005 19511000.00 19511000.00 0.2589 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 0.06 01/03/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N GNMA 2051-11-15 5.0000% 31792.39 30923.87 Agency Mortgage-Backed Securities GNMA 2051-10-20 4.5000% 113603.77 118314.86 Agency Mortgage-Backed Securities GNMA 2051-11-20 3.0000% 3713085.97 3838961.39 Agency Mortgage-Backed Securities GNMA 2051-11-20 3.5000% 1796300.47 1883301.36 Agency Mortgage-Backed Securities GNMA 2051-11-20 4.0000% 9736989.36 10381358.62 Agency Mortgage-Backed Securities GNMA 2051-11-20 2.5000% 587016.27 596266.06 Agency Mortgage-Backed Securities GNMA 2051-10-20 2.5000% 50672.83 52879.17 Agency Mortgage-Backed Securities GNMA 2051-11-20 3.0000% 133537.90 141267.64 Agency Mortgage-Backed Securities GNMA 2051-11-20 2.5000% 373615.07 383996.70 Agency Mortgage-Backed Securities GNMA 2051-11-20 3.5000% 64147.69 68883.76 Agency Mortgage-Backed Securities GNMA 2051-11-20 3.5000% 123757.29 132484.33 Agency Mortgage-Backed Securities GNMA 2051-11-20 3.5000% 82011.37 88176.17 Agency Mortgage-Backed Securities GNMA 2051-11-20 3.0000% 97136.98 101891.16 Agency Mortgage-Backed Securities GNMA 2051-10-20 3.5000% 21453.26 23145.11 Agency Mortgage-Backed Securities GNMA 2051-10-20 3.0000% 29309.30 31060.39 Agency Mortgage-Backed Securities GNMA 2051-10-20 3.0000% 192020.25 203497.10 Agency Mortgage-Backed Securities GNMA 2051-10-20 4.0000% 73164.98 77272.77 Agency Mortgage-Backed Securities GNMA 2051-10-20 3.0000% 1102.77 1168.64 Agency Mortgage-Backed Securities GNMA 2051-11-20 3.0000% 12382.53 13292.05 Agency Mortgage-Backed Securities GNMA 2051-11-20 2.5000% 57540.11 60049.38 Agency Mortgage-Backed Securities GNMA 2051-11-20 2.5000% 114185.65 118290.87 Agency Mortgage-Backed Securities GNMA 2051-10-20 3.0000% 10959.74 11342.94 Agency Mortgage-Backed Securities GNMA 2051-10-20 3.0000% 559881.58 578489.53 Agency Mortgage-Backed Securities GNMA 2051-10-20 2.5000% 832647.83 852627.86 Agency Mortgage-Backed Securities Y 2022-01-03 2022-01-03 2022-01-03 N N N 0.0006 19400000.00 19400000.00 0.2574 N Y Y N N/A ROYAL BANK OF CANADA REPO TRIPA MORTG 0.05 01/03/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2051-03-01 2.5000% 98616.11 84150.23 Agency Mortgage-Backed Securities FMAC 2051-08-01 2.0000% 3171521.18 3065263.44 Agency Mortgage-Backed Securities FNMA 2051-04-01 3.0000% 3186597.28 3027041.97 Agency Mortgage-Backed Securities FNMA 2051-07-01 3.0000% 1840765.62 1864392.78 Agency Mortgage-Backed Securities FNMA 2051-07-01 1.5000% 3253292.43 3064331.45 Agency Mortgage-Backed Securities FNMA 2051-08-01 2.0000% 1305249.08 1271679.62 Agency Mortgage-Backed Securities FNMA 2051-11-01 2.5000% 2873480.65 2918456.94 Agency Mortgage-Backed Securities GNMA 2051-10-20 1.5000% 1405569.32 1359220.02 Agency Mortgage-Backed Securities GNMA 2051-04-20 3.0000% 3252475.77 3133546.02 Agency Mortgage-Backed Securities Y 2022-01-03 2022-01-03 2022-01-03 N N N 0.0005 19400000.00 19400000.00 0.2574 N Y Y N N/A Putnam Variable Trust 2022-01-06 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer