N-MFP2 0000822671 XXXXXXXX 2022-08-31 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 18 22 66296641.79 64663958.35 64523277.30 64501500.87 67947515.13 66816059.66 65924968.56 65902784.18 0.8722 0.8790 0.8793 0.8795 0.8939 0.9083 0.8984 0.8986 4511.52 72673901.52 72692993.94 61424884.00 61657560.68 72464828.78 72467095.6900 1.0000 0.0223 0.9997 0.9998 0.9998 0.9997 C000010859 500.00 40636483.51 40637524.0300 0.9997 0.9998 0.9998 0.9998 112751.17 43273.63 38179.06 2492965.61 210174.27 232739.19 342171.42 189478.44 703568.56 3010050.00 0.0176 N C000010860 500.00 31828345.27 31829571.6600 0.9997 0.9997 0.9998 0.9997 24996.28 138364.27 0.00 71109.04 51339.26 45941.40 22559.32 378638.01 317069.60 689894.21 0.0151 N 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 549717.98 549717.98 0.0076 N N Y N N/A FHLMC FREDDIE MAC 02.7500 06/19/2023 3137EAEN5 US3137EAEN50 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2023-06-19 2023-06-19 2023-06-19 N N N 0.0302 596147.10 596147.10 0.0082 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 849875.86 849875.86 0.0117 N N Y N N/A FHLMC FREDDIE MAC 00.3750 05/05/2023 3137EAER6 US3137EAER64 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2023-05-05 2023-05-05 2023-05-05 N N N 0.0298 734480.38 734480.38 0.0101 N N N N N/A FNMA FANNIE MAE 00.2500 05/22/2023 3135G04Q3 US3135G04Q36 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2023-05-22 2023-05-22 2023-05-22 N N N 0.0311 732149.14 732149.14 0.0101 N N N N N/A FEDERAL FARM CREDIT BANKS FUNDING CORP FEDERAL FARM CREDIT BANK 00.1250 05/10/2023 3133EMYX4 US3133EMYX47 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2023-05-10 2023-05-10 2023-05-10 N N N 0.0302 732521.87 732521.87 0.0101 N N N N N/A FEDERAL FARM CREDIT BANKS FUNDING CORP FEDERAL FARM CREDIT BANK 02.3500 01/20/2023 3133EMNH1 US3133EMNH16 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-09-01 2023-01-20 2023-01-20 N N N 0.0234 750146.61 750146.61 0.0104 N N N N N/A FEDERAL FARM CREDIT BANKS FUNDING CORP FEDERAL FARM CREDIT BANK 02.6100 06/09/2023 3133ELH72 US3133ELH724 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-09-01 2023-06-09 2023-06-09 N N N 0.0260 851838.82 851838.82 0.0118 N N N 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 799686.55 799686.55 0.0110 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 798288.89 798288.89 0.0110 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 798281.05 798281.05 0.0110 N N Y 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 846097.17 846097.17 0.0117 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 09/01/2022 912796T66 US912796T668 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-09-01 2022-09-01 2022-09-01 N N N 0.0074 800000.00 800000.00 0.0110 N Y Y N N/A FHLB FHLB 313385R32 GDC 11/29/2022 313385R32 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2022-11-29 2022-11-29 2022-11-29 N N N 0.0265 744735.99 744735.99 0.0103 N N N N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384DP1 GDC 03/27/2023 313384DP1 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2023-03-27 2023-03-27 2023-03-27 N N N 0.0315 736435.76 736435.76 0.0102 N N N N N/A BofA Securities, Inc. REPO TRIPA MORTG 2.3 09/01/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FNMA 2059-04-01 3.0000% 4015754.15 2321473.52 Agency Mortgage-Backed Securities FNMA 2051-06-01 2.5000% 3311228.42 2514079.49 Agency Mortgage-Backed Securities FNMA 2047-11-01 3.5000% 3022268.53 1136987.74 Agency Mortgage-Backed Securities FNMA 2051-06-01 3.0000% 2739777.90 2271511.33 Agency Mortgage-Backed Securities FNMA 2052-08-01 4.5000% 2518476.20 2536987.66 Agency Mortgage-Backed Securities FNMA 2052-03-01 3.0000% 2682513.03 2476385.92 Agency Mortgage-Backed Securities FNMA 2046-09-01 4.0000% 289098.18 277369.11 Agency Mortgage-Backed Securities FNMA 2052-06-01 3.0000% 2575985.95 2380824.23 Agency Mortgage-Backed Securities FNMA 2049-04-01 3.5000% 21740772.09 2463732.53 Agency Mortgage-Backed Securities FNMA 2051-03-01 2.0000% 3058221.70 2265448.47 Agency Mortgage-Backed Securities Y 2022-09-01 2022-09-01 2022-09-01 N N N 0.0230 20240000.00 20240000.00 0.2793 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 2.3 09/01/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FNMA 2028-12-01 3.9700% 14297.07 14522.73 Agency Mortgage-Backed Securities FNMA 2029-01-01 3.7800% 287638.81 286435.23 Agency Mortgage-Backed Securities FNMA 2029-01-01 3.8500% 8967.81 9006.35 Agency Mortgage-Backed Securities FNMA 2029-08-01 2.9400% 529965.68 502444.56 Agency Mortgage-Backed Securities FNMA 2031-01-01 2.9300% 54120.75 50799.40 Agency Mortgage-Backed Securities FNMA 2032-01-01 2.7900% 417532.03 368548.07 Agency Mortgage-Backed Securities FNMA 2029-11-01 2.5100% 56138.51 49602.46 Agency Mortgage-Backed Securities FNMA 2032-01-01 1.9750% 147178.50 124254.25 Agency Mortgage-Backed Securities FNMA 2030-10-01 2.5600% 191417.98 175142.92 Agency Mortgage-Backed Securities FNMA 2029-03-01 2.2300% 51004.44 46382.94 Agency Mortgage-Backed Securities FNMA 2031-04-01 2.5150% 102322.75 92611.08 Agency Mortgage-Backed Securities FNMA 2027-11-01 3.9600% 795893.45 802666.50 Agency Mortgage-Backed Securities GNMA 2052-03-20 2.0000% 5661747.38 4949356.37 Agency Mortgage-Backed Securities GNMA 2052-03-20 2.5000% 4075992.68 3671834.63 Agency Mortgage-Backed Securities GNMA 2052-03-20 3.0000% 221958.18 206262.87 Agency Mortgage-Backed Securities GNMA 2052-03-20 3.5000% 102104.88 98023.12 Agency Mortgage-Backed Securities GNMA 2052-02-20 1.5000% 1367.19 1143.40 Agency Mortgage-Backed Securities GNMA 2052-02-20 3.0000% 1120976.69 1025509.73 Agency Mortgage-Backed Securities GNMA 2052-02-20 3.5000% 32941.78 31227.18 Agency Mortgage-Backed Securities GNMA 2052-02-20 2.0000% 7073324.32 6161114.13 Agency Mortgage-Backed Securities GNMA 2052-02-20 2.5000% 1937935.05 1739263.81 Agency Mortgage-Backed Securities GNMA 2052-02-20 4.0000% 5641.25 5490.28 Agency Mortgage-Backed Securities GNMA 2052-02-20 2.5000% 10687.35 9769.20 Agency Mortgage-Backed Securities GNMA 2052-02-20 3.5000% 8075.74 7834.11 Agency Mortgage-Backed Securities GNMA 2052-02-20 3.5000% 3031.17 2933.56 Agency Mortgage-Backed Securities GNMA 2052-03-15 4.5000% 108169.90 110053.30 Agency Mortgage-Backed Securities GNMA 2052-03-15 4.5000% 23993.83 24581.95 Agency Mortgage-Backed Securities GNMA 2052-03-15 4.0000% 37766.38 37704.70 Agency Mortgage-Backed Securities Y 2022-09-01 2022-09-01 2022-09-01 N N N 0.0230 20200000.00 20200000.00 0.2788 N Y Y N N/A HSBC SECURITIES (USA), INC. REPO TRIPA MORTG 2.3 09/01/2022 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2035-02-01 3.0000% 662089.79 383626.75 Agency Mortgage-Backed Securities FMAC 2043-01-01 3.5000% 457449.34 278501.38 Agency Mortgage-Backed Securities FMAC 2052-07-01 5.0000% 4333730.63 4363143.19 Agency Mortgage-Backed Securities FMAC 2047-08-01 4.0000% 4942510.00 1376880.41 Agency Mortgage-Backed Securities FMAC 2052-06-01 3.5000% 4266417.20 4081274.49 Agency Mortgage-Backed Securities FMAC 2051-09-01 2.5000% 3611442.19 3002860.58 Agency Mortgage-Backed Securities FNMA 2029-12-01 2.3100% 1203814.06 1101399.58 Agency Mortgage-Backed Securities FNMA 2051-10-01 3.0000% 2225280.15 1881400.47 Agency Mortgage-Backed Securities FNMA 2052-07-01 5.0000% 989282.84 1009247.41 Agency Mortgage-Backed Securities FNMA 2042-05-01 2.0000% 3611442.19 3126982.13 Agency Mortgage-Backed Securities Y 2022-09-01 2022-09-01 2022-09-01 N N N 0.0230 20200000.00 20200000.00 0.2788 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384CM9 GDC 03/01/2023 313384CM9 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2023-03-01 2023-03-01 2023-03-01 N N N 0.0336 713498.35 713498.35 0.0098 N N N N N/A Putnam Variable Trust 2022-09-07 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer