N-MFP2 0000822671 XXXXXXXX 2022-02-28 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 25 36 64810026.56 64688307.00 63209983.32 66621883.43 64810026.56 64688307.00 63209983.32 67621883.43 0.8406 0.8404 0.8374 0.8444 0.8406 0.8404 0.8374 0.8570 1093.99 77895190.44 77917680.61 432525.61 328165.27 78023134.94 78022258.0700 1.0000 0.0008 0.9997 0.9996 0.9997 0.9997 C000010859 500.00 44078168.54 44077416.5300 0.9997 0.9996 0.9997 0.9997 176606.99 620061.79 80814.69 235595.30 3025233.41 1961228.57 1073039.91 428221.81 4481555.30 3285020.13 0.0001 Y Putnam Investment Management, LLC Voluntary Expense Waiver 11975.20 C000010860 500.00 33944966.40 33944841.5400 0.9997 0.9996 0.9997 0.9997 3418.76 198055.35 1.23 98114.56 80592.14 213906.26 319605.70 142788.92 646730.76 783110.39 0.0001 Y Putnam Investment Management, LLC Voluntary Expense Waiver 15943.48 FNMA FANNIE MAE 02.0000 10/05/2022 3135G0T78 US3135G0T781 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-10-05 2022-10-05 2022-10-05 N N N 0.0013 553749.56 553749.56 0.0071 N N N N N/A FEDERAL FARM CREDIT BANKS FUNDING CORP FEDERAL FARM CREDIT BANK 01.8500 08/05/2022 3133EKYJ9 US3133EKYJ96 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-08-05 2022-08-05 2022-08-05 N N N 0.0011 502635.42 502635.42 0.0064 N N N N N/A FNMA FANNIE MAE 01.3750 09/06/2022 3135G0W33 US3135G0W330 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-09-06 2022-09-06 2022-09-06 N N N 0.0008 853147.69 853147.69 0.0109 N N N N N/A FHLMC FREDDIE MAC 00.2000 03/04/2022 3134GVFL7 US3134GVFL73 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-03-01 2022-03-04 2022-03-04 N N N 0.0020 1000014.06 1000014.06 0.0128 N N Y N N/A FNMA FANNIE MAE 00.2200 03/09/2022 3135G0Z55 US3135G0Z556 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-03-01 2022-03-09 2022-03-09 N N N 0.0022 1000037.78 1000037.78 0.0128 N N Y N N/A FNMA FANNIE MAE 00.4000 04/07/2022 3135G03B7 US3135G03B75 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-03-01 2022-04-07 2022-04-07 N N N 0.0040 1000357.54 1000357.54 0.0128 N N Y N N/A FHLMC FREDDIE MAC 00.3100 05/05/2022 3134GVQW1 US3134GVQW10 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-03-01 2022-05-05 2022-05-05 N N N 0.0031 1000367.73 1000367.73 0.0128 N N N N N/A FHLMC FREDDIE MAC 00.1250 07/25/2022 3137EAET2 US3137EAET21 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-07-25 2022-07-25 2022-07-25 N N N 0.0007 848620.45 848620.45 0.0109 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 797919.41 797919.41 0.0102 N N N N N/A 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U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-03-01 2023-06-09 2023-06-09 N N N 0.0037 853234.55 853234.55 0.0109 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 749102.21 749102.21 0.0096 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 747868.27 747868.27 0.0096 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 797213.52 797213.52 0.0102 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 796593.34 796593.34 0.0102 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 04/28/2022 912796P37 US912796P377 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-04-28 2022-04-28 2022-04-28 N N N 0.0019 749759.54 749759.54 0.0096 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 797481.22 797481.22 0.0102 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 845866.61 845866.61 0.0108 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 748953.02 748953.02 0.0096 N Y Y N N/A UNITED STATES OF AMERICA CASH MGMT BILL 00.0000 05/10/2022 912796U80 US912796U807 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-05-10 2022-05-10 2022-05-10 N N N 0.0015 749628.13 749628.13 0.0096 N Y Y N N/A FHLB FHLB 313385WB8 GDC 04/27/2022 313385WB8 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-04-27 2022-04-27 2022-04-27 N N N 0.0018 749774.63 749774.63 0.0096 N N Y N N/A BofA Securities, Inc. REPO TRIPA MORTG 0.05 03/01/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N GNMA 2050-06-20 3.0000% 14849835.93 6809140.39 Agency Mortgage-Backed Securities GNMA 2050-08-20 2.0000% 17808154.33 13236919.61 Agency Mortgage-Backed Securities Y 2022-03-01 2022-03-01 2022-03-01 N N N 0.0005 19653000.00 19653000.00 0.2519 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 0.06 03/01/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N GNMA 2051-12-20 2.5000% 57609.46 56932.92 Agency Mortgage-Backed Securities GNMA 2052-01-20 4.0000% 3733080.30 3867817.01 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 121986.23 127774.16 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.0000% 111499.75 101197.05 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 85271.89 89858.38 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 52370.06 55121.38 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 5000.33 5284.83 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 1217.33 1279.66 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 111033.41 117901.99 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 65972.42 70430.40 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 51850.27 55399.85 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 300353.60 316109.06 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 54969.86 56435.30 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 223891.70 230059.05 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 1303935.78 1384229.93 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 63019.23 66734.92 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 105893.12 111974.61 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 116201.55 122831.98 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 422074.62 433565.94 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 138416.57 147038.73 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 192128.01 202516.89 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 249670.78 269526.80 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 753950.99 814591.98 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 500368.09 540612.58 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 9983.30 10553.97 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 51211.35 54367.55 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.0000% 91922.32 92989.27 Agency Mortgage-Backed Securities GNMA 2052-01-20 3.5000% 74099.32 77648.02 Agency Mortgage-Backed Securities GNMA 2052-01-20 3.5000% 63343.26 66280.32 Agency Mortgage-Backed Securities GNMA 2052-01-20 3.0000% 108061.65 110954.90 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 39697.44 42130.68 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 301311.64 320094.65 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 137552.43 146648.67 Agency Mortgage-Backed Securities GNMA 2052-01-20 4.0000% 448179.74 485167.42 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 94925.74 100826.05 Agency Mortgage-Backed Securities GNMA 2052-01-20 3.5000% 59598.74 61782.62 Agency Mortgage-Backed Securities GNMA 2052-01-20 4.0000% 50828.71 54553.70 Agency Mortgage-Backed Securities GNMA 2052-01-20 4.0000% 57621.81 61281.95 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.0000% 132943.02 134721.18 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 56407.89 60523.18 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 50707.27 53779.87 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.5000% 274869.70 290843.75 Agency Mortgage-Backed Securities GNMA 2051-12-20 4.0000% 5442488.48 5799809.85 Agency Mortgage-Backed Securities GNMA 2051-12-20 3.0000% 2216848.73 2257965.85 Agency Mortgage-Backed Securities U.S. TREASURY 2023-01-15 0.1250% 289372.13 361854.93 U.S. Treasuries (including strips) Y 2022-03-01 2022-03-01 2022-03-01 N N N 0.0006 19500000.00 19500000.00 0.2499 N Y Y N N/A ROYAL BANK OF CANADA REPO TRIPA MORTG 0.05 03/01/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N GNMA 2051-10-20 1.5000% 5859567.69 5842405.02 Agency Mortgage-Backed Securities U.S. TREASURY 2041-11-15 3.1250% 469606.99 585791.70 U.S. Treasuries (including strips) U.S. TREASURY 2043-05-15 2.8750% 14094772.85 13461832.98 U.S. Treasuries (including strips) Y 2022-03-01 2022-03-01 2022-03-01 N N N 0.0005 19500000.00 19500000.00 0.2499 N Y Y N N/A Putnam Variable Trust 2022-03-04 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer