Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 133

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 133
---
,

Inc.

$

3,333

Pinnacle

Buyer

LLC

15,174

$

18,507

#### 5.

#### Income

#### Taxes
(continued)

Putnam

Master

Intermediate

Income

Trust

Notes

to

### Financial
Statements

52

franklintempleton.com

Annual

Report

#### 9.

#### Other

#### Derivative

#### Information
At

September

30,

2025,

investments

in

derivative

contracts

are

reflected

in

the Statement of

Assets

and

Liabilities

as

follows:

#### Asset

#### Derivatives

#### Liability

#### Derivatives

#### Derivative

#### Contracts

#### Not

#### Accounted

#### for

#### as

#### Hedging

#### Instruments

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Location

#### Fair

#### Value

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Location

#### Fair

#### Value

#### Putnam

#### Master

#### Intermediate

#### Income

#### Trust
Interest

rate

contracts

.......

Variation

margin

on

futures

contracts

$

58,505

a

Variation

margin

on

futures

contracts

$

9,959

a

Variation

margin

on

centrally

cleared

swap

contracts

1,191,111

b

Variation

margin

on

centrally

cleared

swap

contracts

1,235,457

b

Unrealized

appreciation

on

forward

premium

swap

option

contracts

868,678

Unrealized

depreciation

on

forward

premium

swap

option

contracts

869,684

Foreign

exchange

contracts

..

Unrealized

appreciation

on

OTC

forward

exchange

contracts

97,454

Unrealized

depreciation

on

OTC

forward

exchange

contracts

26,513

Credit

contracts

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

Variation

margin

on

centrally

cleared

swap

contracts

292,961

b

Variation

margin

on

centrally

cleared

swap

contracts

—

OTC

swap

contracts

(upfront

payments)

1,117,539

OTC

swap

contracts

(upfront