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N N/A FHLMC FREDDIE MAC 01.6250 10/25/2019 3134GBHT2 US3134GBHT28 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-10-25 2019-10-25 2019-10-25 N N N 0.0256 1660479.33 1660479.33 0.0153 N N N N N/A FHLB FEDERAL HOME LOAN BANK 01.5000 10/21/2019 3130ACM92 US3130ACM925 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-10-21 2019-10-21 2019-10-21 N N N 0.0256 1638887.25 1638887.25 0.0151 N N N N N/A UNITED STATES OF AMERICA US TREASURY FRN 02.4527 04/30/2020 9128284K3 US9128284K35 U.S. Treasury Debt Y 2019-03-01 2020-04-30 2020-04-30 N N N 0.0245 999619.96 999619.96 0.0092 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 04/25/2019 912796QC6 US912796QC69 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-04-25 2019-04-25 2019-04-25 N N N 0.0247 1095983.47 1095983.47 0.0101 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 03/28/2019 912796PX1 US912796PX16 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-28 2019-03-28 2019-03-28 N N N 0.0241 1098046.81 1098046.81 0.0101 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 05/23/2019 912796QH5 US912796QH56 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-05-23 2019-05-23 2019-05-23 N N N 0.0252 1093926.01 1093926.01 0.0101 N Y Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANK 02.4419 07/10/2019 3133EJKG3 US3133EJKG31 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-10 2019-07-10 2019-07-10 N N N 0.0244 1258821.31 1258821.31 0.0116 N N N N N/A FNMA FANNIE MAE 02.5126 03/08/2019 3135G0JE4 US3135G0JE40 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-08 2019-03-08 2019-03-08 N N N 0.0251 649964.91 649964.91 0.0060 N N Y N N/A FHLMC FREDDIE MAC 02.3930 06/28/2019 3134GBXJ6 US3134GBXJ61 U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-28 2019-06-28 2019-06-28 N N N 0.0239 1250070.76 1250070.76 0.0115 N N N N N/A UNITED STATES OF AMERICA US TREASURY FRN 02.4627 07/31/2020 912828Y53 US912828Y537 U.S. Treasury Debt Y 2019-03-01 2020-07-31 2020-07-31 N N N 0.0246 999581.91 999581.91 0.0092 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 1087600.25 1087600.25 0.0100 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 03/07/2019 912796QZ5 US912796QZ54 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-07 2019-03-07 2019-03-07 N N N 0.0231 999612.08 999612.08 0.0092 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384CU1 GDC 03/08/2019 313384CU1 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-08 2019-03-08 2019-03-08 N N N 0.0229 999537.00 999537.00 0.0092 N N Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 03/14/2019 912796RB7 US912796RB77 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-14 2019-03-14 2019-03-14 N N N 0.0232 999150.03 999150.03 0.0092 N Y Y N N/A FREDDIE MAC DISCOUNT NOTES FREDDIE MAC DISCOUNT NOTES 313396DG5 GDC 03/20/2019 313396DG5 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-20 2019-03-20 2019-03-20 N N N 0.0237 998744.00 998744.00 0.0092 N N Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 03/21/2019 912796RC5 US912796RC50 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-03-21 2019-03-21 2019-03-21 N N N 0.0238 998696.53 998696.53 0.0092 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 04/04/2019 912796RD3 US912796RD34 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-04-04 2019-04-04 2019-04-04 N N N 0.0241 997776.46 997776.46 0.0092 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 04/11/2019 912796RG6 US912796RG64 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-04-11 2019-04-11 2019-04-11 N N N 0.0244 997255.28 997255.28 0.0092 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 04/18/2019 912796RH4 US912796RH48 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-04-18 2019-04-18 2019-04-18 N N N 0.0247 1096502.00 1096502.00 0.0101 N Y Y N N/A FREDDIE MAC DISCOUNT NOTES FREDDIE MAC DISCOUNT NOTES 313396HB2 GDC 06/19/2019 313396HB2 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-06-19 2019-06-19 2019-06-19 N N N 0.0257 249128.54 249128.54 0.0023 N N N N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313312JQ4 GDC 07/26/2019 313312JQ4 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-07-26 2019-07-26 2019-07-26 N N N 0.0261 356369.04 356369.04 0.0033 N N N N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 05/02/2019 912796RJ0 US912796RJ04 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-05-02 2019-05-02 2019-05-02 N N N 0.0250 1095467.54 1095467.54 0.0101 N Y Y N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 05/09/2019 912796RP6 US912796RP63 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-05-09 2019-05-09 2019-05-09 N N N 0.0251 1094940.00 1094940.00 0.0101 N Y Y N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384HC6 GDC 06/20/2019 313384HC6 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-06-20 2019-06-20 2019-06-20 N N N 0.0259 198495.40 198495.40 0.0018 N N N N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384HQ5 GDC 07/02/2019 313384HQ5 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-07-02 2019-07-02 2019-07-02 N N N 0.0258 694092.70 694092.70 0.0064 N N N N N/A UNITED STATES OF AMERICA TREASURY BILL 00.0000 05/16/2019 912796RQ4 US912796RQ47 U.S. Treasury Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-05-16 2019-05-16 2019-05-16 N N N 0.0251 1094449.88 1094449.88 0.0101 N Y Y N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313312HW3 GDC 07/08/2019 313312HW3 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-07-08 2019-07-08 2019-07-08 N N N 0.0260 991149.00 991149.00 0.0091 N N N N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313312HZ6 GDC 07/11/2019 313312HZ6 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-07-11 2019-07-11 2019-07-11 N N N 0.0261 222962.18 222962.18 0.0021 N N N N N/A FEDERAL FARM CREDIT BANKS FEDERAL FARM CREDIT BANKS 313312HG8 GDC 06/24/2019 313312HG8 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-06-24 2019-06-24 2019-06-24 N N N 0.0255 248051.50 248051.50 0.0023 N N N 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 1087979.20 1087979.20 0.0100 N N N 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 345497.25 345497.25 0.0032 N N N 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 0.0257 392472.40 392472.40 0.0036 N N N N N/A FED HOME LN DISCOUNT NT FED HOME LN DISCOUNT NT 313384GV5 GDC 06/13/2019 313384GV5 NA U.S. Government Agency Debt Y Moody's P-1 S&P A-1+ Fitch F1+ 2019-06-13 2019-06-13 2019-06-13 N N N 0.0252 590805.85 590805.85 0.0054 N N N N N/A UNITED STATES OF AMERICA US TREASURY FRN 02.5347 01/31/2021 9128285Y2 US9128285Y20 U.S. Treasury Debt Y 2019-03-01 2021-01-31 2021-01-31 N N N 0.0253 1099285.72 1099285.72 0.0101 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 1088282.80 1088282.80 0.0100 N N N 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 888947.69 888947.69 0.0082 N Y Y N N/A MERRILL LYNCH, PIERCE, FENNER AND SMITH REPO TRIPA MORTG 2.58 03/01/2019 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N GNMA 2046-11-20 3.0000% 23360442.68 18744540.06 Agency Mortgage-Backed Securities Y 2019-03-01 2019-03-01 2019-03-01 N N N 0.0258 18377000.00 18377000.00 0.1694 N Y Y N N/A BNP PARIBAS REPO TRIPA MORTG 2.6 03/01/2019 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FNMA 2047-02-01 4.0000% 4568127.03 3921754.14 Agency Mortgage-Backed Securities FNMA 2033-02-01 3.0000% 4460678.38 4376119.44 Agency Mortgage-Backed Securities FNMA 2047-10-01 4.5000% 1204528.53 1098433.97 Agency Mortgage-Backed Securities FNMA 2048-06-01 4.5000% 37392.73 37947.70 Agency Mortgage-Backed Securities FNMA 2048-09-01 4.5000% 588244.68 585501.79 Agency Mortgage-Backed Securities U.S. TREASURY 2021-10-15 2.8750% 2046577.69 2088147.28 U.S. Treasuries (including strips) U.S. TREASURY 2020-05-15 3.5000% 2404450.00 2455376.09 U.S. Treasuries (including strips) U.S. TREASURY 2021-06-30 1.1250% 1649463.08 1602030.40 U.S. Treasuries (including strips) U.S. TREASURY 2020-06-30 1.6250% 3247202.31 3216089.18 U.S. Treasuries (including strips) Y 2019-03-01 2019-03-01 2019-03-01 N N N 0.0260 19000000.00 19000000.00 0.1752 N Y Y N N/A HSBC SECURITIES (USA), INC. REPO TRIPA MORTG 2.57 03/01/2019 TRIPARTY2 U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Y N FNMA 2046-02-01 3.5000% 2007454.68 1518828.32 Agency Mortgage-Backed Securities FNMA 2044-11-01 4.0000% 594009.60 346650.68 Agency Mortgage-Backed Securities FNMA 2055-07-01 4.5000% 857600.00 630558.89 Agency Mortgage-Backed Securities FNMA 2047-10-01 4.5000% 674913.28 637931.54 Agency Mortgage-Backed Securities FNMA 2048-02-01 4.0000% 84487.36 76760.22 Agency Mortgage-Backed Securities FNMA 2048-09-01 4.5000% 3970592.00 3982746.32 Agency Mortgage-Backed Securities FNMA 2047-08-01 3.5000% 10655170.56 9574637.38 Agency Mortgage-Backed Securities FNMA 2038-03-01 4.0000% 570378.24 545593.99 Agency Mortgage-Backed Securities FNMA 2038-01-01 6.0000% 14031400.96 999337.09 Agency Mortgage-Backed Securities FNMA 2048-09-01 4.5000% 48773.76 48266.28 Agency Mortgage-Backed Securities Y 2019-03-01 2019-03-01 2019-03-01 N N N 0.0257 18000000.00 18000000.00 0.1660 N Y Y N N/A CITIGROUP GLOBAL MARKETS INC. REPO TRIPA MORTG 2.62 03/01/2019 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 2046-02-15 1.0000% 3038119.36 3131856.47 U.S. Treasuries (including strips) U.S. TREASURY 2047-02-15 3.0000% 991.02 981.51 U.S. Treasuries (including strips) U.S. TREASURY 2021-12-31 2.0000% 10806109.08 10701869.77 U.S. Treasuries (including strips) U.S. TREASURY 2023-12-31 2.2500% 1338482.45 1327998.29 U.S. Treasuries (including strips) U.S. TREASURY 2027-01-15 0.3750% 4085375.86 4137715.95 U.S. Treasuries (including strips) U.S. TREASURY 2022-01-31 1.8750% 82431.50 81134.05 U.S. Treasuries (including strips) U.S. TREASURY 2024-01-31 2.2500% 1605.61 1589.22 U.S. Treasuries (including strips) Y 2019-03-01 2019-03-01 2019-03-01 N N N 0.0262 19000000.00 19000000.00 0.1752 N Y Y N N/A Putnam Investment Funds 2019-03-06 /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer