Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 103

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 103
---

agent

fees

........................................................................

27,032

Trustees'

fees

and

expenses

.................................................................

92,778

Variation

margin

on

futures

contracts

...........................................................

2,323

Deposits

from

brokers

for:

OTC

derivative

contracts

..................................................................

1,171,985

OTC

swap

contracts

(upfront

receipts

)

...........................................................

336,643

Unrealized

depreciation

on

OTC

swap

contracts

....................................................

209,114

Unrealized

depreciation

on

OTC

forward

exchange

contracts

..........................................

26,513

Unrealized

depreciation

on

forward

premium

swap

option

contracts

.....................................

869,684

TBA

sale

commitments,

at

value

(proceeds

$6,946,484)

(Note

1d)

......................................

6,925,061

Collateral

on

certain

derivative

contracts,

at

value

(Note

1

e

)

...........................................

141,725

Accrued

expenses

and

other

liabilities

...........................................................

167,439

Total

liabilities

.........................................................................

41,542,817

Net

assets,

at

value

.................................................................

$167,035,539

Net

assets

consist

of:

Paid-in

capital

.............................................................................

$292,611,522

Total

distributable

earnings

(losses)

.............................................................

(125,575,983)

Net

assets,

at

value

.................................................................

$167,035,539

Shares

outstanding

.........................................................................

48,184,341

Net

asset

value

per

share

a

....................................................................

$3.47

a

Net

asset

value

per

share

may

not

recalculate

due

to

rounding.

Putnam

Master

Intermediate

Income

Trust

### Financial
Statements

Statement

of

### Operations
September

30,

2025

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

### financial
statements.

40

#### Putnam

#### Master

#### Intermediate

#### Income

#### Trust
Investment

income:

Dividends:

Non-controlled

affili