N-MFP2 0000822671 XXXXXXXX 2024-02-29 0000822671 549300S9JYWEMKQCLW53 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 10 23 71288331.86 72950156.28 72789994.51 73154932.49 73746183.35 74770277.66 75356094.65 75723705.15 0.9040 0.9139 0.9144 0.9390 0.9351 0.9367 0.9466 0.9720 10457.04 78186685.57 78188055.56 68866.80 457390.72 77809988.68 77806602.1500 1.0000 0.0539 1.0000 1.0000 1.0000 1.0000 C000010859 500.00 41047016.52 41044674.3200 1.0000 1.0000 1.0000 1.0000 441812.56 386815.58 1566688.67 253645.08 220097.58 1304837.95 391613.17 391249.21 3006983.08 2385097.45 0.0494 N C000010860 500.00 36762972.16 36761927.8300 1.0000 1.0000 1.0000 1.0000 476086.23 72438.02 728773.83 265936.02 67960.24 607718.11 54469.44 190354.94 1010717.40 1182847.03 0.0469 N UNITED STATES OF AMERICA US TREASURY FRN 05.4657 10/31/2024 91282CFS5 US91282CFS52 U.S. Treasury Debt Y S&P A-1+ Fitch F1+ 2024-03-01 2024-10-31 2024-10-31 N N N 0.0547 700307.12 700307.12 0.0090 N Y Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 05.5257 01/31/2025 91282CGF2 US91282CGF23 U.S. Treasury Debt Y S&P A-1+ Fitch F1+ 2024-03-01 2025-01-31 2025-01-31 N N N 0.0553 650752.22 650752.22 0.0084 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 06/13/2024 912797FS1 US912797FS14 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-06-13 2024-06-13 2024-06-13 N N N 0.0531 738690.00 738690.00 0.0095 N Y Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 05.4507 07/31/2025 91282CHS3 US91282CHS35 U.S. Treasury Debt Y 2024-03-01 2025-07-31 2025-07-31 N N N 0.0545 649760.85 649760.85 0.0084 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 00.0000 03/13/2024 313384UF4 US313384UF44 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-03-13 2024-03-13 2024-03-13 N N N 0.0546 329373.18 329373.18 0.0042 N N Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 00.0000 03/20/2024 313384UN7 US313384UN77 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-03-20 2024-03-20 2024-03-20 N N N 0.0545 747808.34 747808.34 0.0096 N N Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 00.0000 03/22/2024 313384UQ0 US313384UQ09 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-03-22 2024-03-22 2024-03-22 N N N 0.0547 747589.17 747589.17 0.0096 N N Y N N/A UNITED STATES OF AMERICA US TREASURY FRN 05.4947 04/30/2025 91282CGY1 US91282CGY12 U.S. Treasury Debt Y 2024-03-01 2025-04-30 2025-04-30 N N N 0.0549 700360.72 700360.72 0.0090 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 00.0000 06/17/2024 313384YF0 US313384YF08 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-06-17 2024-06-17 2024-06-17 N N N 0.0547 689031.88 689031.88 0.0089 N N N N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 00.0000 04/12/2024 313384VM8 US313384VM85 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-04-12 2024-04-12 2024-04-12 N N N 0.0550 745301.36 745301.36 0.0096 N N Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 06/06/2024 912797HT7 US912797HT78 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-06-06 2024-06-06 2024-06-06 N N N 0.0527 739471.46 739471.46 0.0095 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 00.0000 06/10/2024 313384XY0 US313384XY06 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-06-10 2024-06-10 2024-06-10 N N N 0.0521 739003.13 739003.13 0.0095 N N N N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 06/27/2024 912796Y45 US912796Y452 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-06-27 2024-06-27 2024-06-27 N N N 0.0527 737216.67 737216.67 0.0095 N Y Y N N/A FEDERAL FARM CREDIT DISCOUNT NOTES FED FARM CRD DISCOUNT NT 00.0000 06/24/2024 313312YN4 US313312YN47 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-06-24 2024-06-24 2024-06-24 N N N 0.0522 157332.00 157332.00 0.0020 N N N N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 07/05/2024 912796Y52 US912796Y528 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-07-05 2024-07-05 2024-07-05 N N N 0.0527 736468.13 736468.13 0.0095 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 00.0000 08/30/2024 313384D97 US313384D977 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2024-08-30 2024-08-30 2024-08-30 N N N 0.0507 779219.34 779219.34 0.0100 N N N N N/A ROYAL BANK OF CANADA REPO TRIPA MORTG 5.31 03/01/2024 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 2024-07-11 0.0000% 464799.77 456003.90 U.S. Treasuries (including strips) U.S. TREASURY 2024-09-05 0.0000% 52688.79 51297.91 U.S. Treasuries (including strips) U.S. TREASURY 2024-10-03 0.0000% 649422.20 630164.23 U.S. Treasuries (including strips) U.S. TREASURY 2025-01-23 0.0000% 53884.44 51541.22 U.S. Treasuries (including strips) U.S. TREASURY 2024-08-01 0.0000% 60560.64 59240.96 U.S. Treasuries (including strips) U.S. TREASURY 2024-05-21 0.0000% 70137.30 69311.29 U.S. Treasuries (including strips) U.S. TREASURY 2024-05-28 0.0000% 7242.56 7149.98 U.S. Treasuries (including strips) U.S. TREASURY 2024-06-30 1.7500% 87030.89 86257.85 U.S. Treasuries (including strips) U.S. TREASURY 2026-09-30 0.8750% 20360160.18 18674112.51 U.S. Treasuries (including strips) U.S. TREASURY 2024-04-30 5.2510% 7379.86 7408.70 U.S. Treasuries (including strips) U.S. TREASURY 2025-07-31 5.4510% 2850480.55 2860900.83 U.S. Treasuries (including strips) Y 2024-03-01 2024-03-01 2024-03-01 N N N 0.0531 22500000.00 22500000.00 0.2892 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 5.31 03/01/2024 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2053-06-01 5.5000% 5382.11 5031.74 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.0000% 1031600.12 971658.95 Agency Mortgage-Backed Securities FMAC 2053-05-01 4.5000% 1121595.06 1061540.10 Agency Mortgage-Backed Securities FMAC 2053-05-01 4.5000% 837547.39 797117.16 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 8720140.79 7976492.28 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.0000% 158801.99 147533.27 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 502220.74 467514.56 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 7672.35 7181.63 Agency Mortgage-Backed Securities FMAC 2053-05-01 5.5000% 12235.62 12052.91 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 68854.30 68215.28 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 87422.99 88859.81 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 205280.40 207051.80 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 101374.65 100474.48 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 61436.79 57030.44 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 85450.83 84493.02 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.0000% 70587.66 68827.26 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 54551.41 55101.37 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 54197.86 48059.30 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 274988.94 251406.63 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.0000% 70743.31 68435.77 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 251979.15 243168.15 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 103517.37 105953.51 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.0000% 54042.80 49337.58 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 74309.98 75158.92 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 118066.66 114017.57 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 102387.40 101600.63 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 65841.83 54361.66 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.0000% 76171.49 74493.05 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 20557.22 17389.13 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 101136.22 99712.18 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 62079.90 58804.35 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 61197.61 61841.82 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 89432.35 86863.08 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 59741.37 61673.72 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 81747.46 83921.78 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 158300.43 148812.27 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 26017.91 24736.15 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 71483.94 67293.21 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 171253.86 173489.74 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.0000% 255373.59 255562.94 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.0000% 415538.22 395672.92 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.0000% 109534.94 100478.04 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 69732.17 65575.90 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 58268.18 57808.14 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 71863.54 70524.69 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.0000% 89329.71 86994.94 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 61149.82 62106.76 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 77880.95 69781.33 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 61708.37 58310.09 Agency Mortgage-Backed Securities FMAC 2053-06-01 4.5000% 90045.75 85067.91 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 55502.21 56462.33 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 91235.30 93683.83 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.0000% 336957.38 312579.66 Agency Mortgage-Backed Securities FMAC 2053-06-01 6.5000% 96269.13 97968.27 Agency Mortgage-Backed Securities FMAC 2053-11-01 6.5000% 1319.80 1345.55 Agency Mortgage-Backed Securities FMAC 2053-06-01 5.5000% 1008068.37 945657.78 Agency Mortgage-Backed Securities FNMA 2053-06-01 4.5000% 71308.22 67226.02 Agency Mortgage-Backed Securities FNMA 2053-06-01 5.5000% 91310.11 85110.44 Agency Mortgage-Backed Securities FNMA 2053-05-01 6.5000% 36728.40 38248.87 Agency Mortgage-Backed Securities FNMA 2053-06-01 5.5000% 56846.12 56260.84 Agency Mortgage-Backed Securities FNMA 2053-06-01 6.0000% 62804.01 64072.48 Agency Mortgage-Backed Securities FNMA 2053-06-01 5.5000% 57601.98 57102.27 Agency Mortgage-Backed Securities FNMA 2053-05-01 4.0000% 1607178.21 1497172.77 Agency Mortgage-Backed Securities FNMA 2053-05-01 4.0000% 2083355.32 1950692.25 Agency Mortgage-Backed Securities FNMA 2053-05-01 4.5000% 18695.66 17012.99 Agency Mortgage-Backed Securities FNMA 2053-06-01 6.0000% 2213342.64 2055394.28 Agency Mortgage-Backed Securities Y 2024-03-01 2024-03-01 2024-03-01 N N N 0.0531 22500000.00 22500000.00 0.2892 N Y Y N N/A BofA Securities, Inc. REPO TRIPA MORTG 5.31 03/01/2024 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FMAC 2053-07-01 5.0080% 1572549.10 1491676.74 Agency Mortgage-Backed Securities FMAC 2045-03-01 3.5000% 116727.22 14962.82 Agency Mortgage-Backed Securities FMAC 2047-11-01 3.5000% 267633.39 85117.55 Agency Mortgage-Backed Securities FMAC 2046-12-01 3.0000% 120160.37 48482.91 Agency Mortgage-Backed Securities FMAC 2049-04-01 3.5000% 4740229.82 373642.85 Agency Mortgage-Backed Securities FMAC 2049-06-01 3.5000% 762923.00 77071.69 Agency Mortgage-Backed Securities FMAC 2052-06-01 3.5000% 3832290.41 3030874.77 Agency Mortgage-Backed Securities FMAC 2052-09-01 4.0000% 175472.29 150913.06 Agency Mortgage-Backed Securities FMAC 2052-04-01 2.5000% 750506.28 620579.73 Agency Mortgage-Backed Securities FMAC 2053-10-01 5.5000% 102984.23 99135.33 Agency Mortgage-Backed Securities FMAC 2048-08-01 4.5000% 7976878.77 1627097.10 Agency Mortgage-Backed Securities FMAC 2050-07-01 3.0000% 26320.84 9929.38 Agency Mortgage-Backed Securities FMAC 2050-08-01 4.5000% 8037.93 3672.56 Agency Mortgage-Backed Securities FMAC 2051-08-01 4.0000% 147006.41 92047.86 Agency Mortgage-Backed Securities FMAC 2052-02-01 2.0000% 107115.15 76497.35 Agency Mortgage-Backed Securities FMAC 2052-04-01 4.5000% 149140.92 129871.90 Agency Mortgage-Backed Securities FMAC 2052-10-01 4.5000% 3045.82 2602.92 Agency Mortgage-Backed Securities FMAC 2053-03-01 4.5000% 7509.53 6997.75 Agency Mortgage-Backed Securities FMAC 2053-04-01 4.5000% 25203.92 23546.39 Agency Mortgage-Backed Securities FMAC 2054-01-01 7.0000% 151507.81 156545.71 Agency Mortgage-Backed Securities FMAC 2054-01-01 2.0000% 20666.82 16203.29 Agency Mortgage-Backed Securities FMAC 2035-09-01 2.0000% 144955.37 83645.46 Agency Mortgage-Backed Securities FMAC 2051-10-01 3.0000% 684903.44 528145.48 Agency Mortgage-Backed Securities FMAC 2052-02-01 3.0000% 4119.78 3156.05 Agency Mortgage-Backed Securities FMAC 2051-03-01 1.5000% 2746522.81 1685249.27 Agency Mortgage-Backed Securities FNMA 2031-10-01 6.5280% 10117894.01 3471.93 Agency Mortgage-Backed Securities FNMA 2044-09-01 5.0000% 381807.56 33147.68 Agency Mortgage-Backed Securities FNMA 2029-12-01 3.3800% 3400.58 2840.95 Agency Mortgage-Backed Securities FNMA 2026-03-01 2.8600% 871944.70 798961.87 Agency Mortgage-Backed Securities FNMA 2037-07-01 3.2900% 195384.58 174631.40 Agency Mortgage-Backed Securities FNMA 2048-06-01 4.0200% 858212.09 694879.36 Agency Mortgage-Backed Securities FNMA 2028-12-01 3.9550% 734150.89 711077.34 Agency Mortgage-Backed Securities FNMA 2053-12-01 5.0010% 2579626.99 2551662.12 Agency Mortgage-Backed Securities FNMA 2052-05-01 4.5000% 126615.62 97716.09 Agency Mortgage-Backed Securities FNMA 2053-09-01 6.5000% 86565.36 89449.05 Agency Mortgage-Backed Securities FNMA 2047-09-01 3.5000% 15258.46 3259.05 Agency Mortgage-Backed Securities FNMA 2052-07-01 4.5000% 7629.23 6813.02 Agency Mortgage-Backed Securities FNMA 2050-07-01 2.5000% 2639179.54 1328204.54 Agency Mortgage-Backed Securities FNMA 2036-11-01 2.0000% 47797.35 34199.28 Agency Mortgage-Backed Securities FNMA 2036-12-01 2.0000% 9788.53 7145.42 Agency Mortgage-Backed Securities FNMA 2048-11-01 3.5000% 1613861.68 1459689.02 Agency Mortgage-Backed Securities FNMA 2046-10-01 2.5000% 26533.24 5793.83 Agency Mortgage-Backed Securities FNMA 2044-01-01 6.0000% 43849.00 43742.51 Agency Mortgage-Backed Securities FNMA 2052-02-01 2.5000% 52872.78 38331.44 Agency Mortgage-Backed Securities FNMA 2053-03-01 3.0000% 43732.04 35804.05 Agency Mortgage-Backed Securities FNMA 2053-06-01 6.0000% 743778.21 690700.78 Agency Mortgage-Backed Securities GNMA 2053-10-20 5.0000% 1598650.22 1556550.85 Agency Mortgage-Backed Securities GNMA 2072-08-20 5.8270% 25250.62 22981.29 Agency Mortgage-Backed Securities GNMA 2048-12-20 4.5000% 84083.42 51635.83 Agency Mortgage-Backed Securities GNMA 2049-12-15 3.5000% 48428.67 6658.73 Agency Mortgage-Backed Securities GNMA 2052-05-20 4.0000% 1777852.29 1584949.14 Agency Mortgage-Backed Securities GNMA 2043-04-15 3.0000% 34129.36 4664.26 Agency Mortgage-Backed Securities GNMA 2044-09-15 3.5000% 64886.98 21859.42 Agency Mortgage-Backed Securities GNMA 2062-11-20 7.0000% 12726.55 12902.11 Agency Mortgage-Backed Securities GNMA 2053-07-20 6.5000% 98162.10 101033.63 Agency Mortgage-Backed Securities GNMA 2053-12-20 6.5000% 130133.15 135151.05 Agency Mortgage-Backed Securities GNMA 2063-11-20 7.0000% 66551.07 67863.78 Agency Mortgage-Backed Securities GNMA 2054-02-20 5.5000% 213750.88 214020.38 Agency Mortgage-Backed Securities GNMA 2044-10-15 3.5000% 188594.57 21522.91 Agency Mortgage-Backed Securities Y 2024-03-01 2024-03-01 2024-03-01 N N N 0.0531 22599000.00 22599000.00 0.2904 N Y Y N N/A Putnam Variable Trust 2024-03-06 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer