Company: PIM
Filing Date: 2025-05-28
Form Type: N-CSRS
Source: 0000928816-25-000657
Chunk: 10

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-05-28
Form: N-CSRS
Chunk 10
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 the portfolio, references to “Franklin Advisers” represent Franklin Advisers, Inc., the fund’s investment manager, a direct wholly-owned subsidiary of Franklin Resources, Inc., and references to “ASC 820” represent Accounting Standards Codification 820 Fair Value Measurements and Disclosures. |
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| *                             | Percentages indicated are based on net assets of $165,275,424.                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| †                             | This security is non-income-producing.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| ††                            | The interest rate and date shown parenthetically represent the new interest rate to be paid and the date the fund will begin accruing interest at this rate.                                                                                                                                                                                                                                                                                                                                                                  |
| 

#                             | This security, in part or in entirety, was pledged and segregated with the broker to cover margin requirements for futures contracts at the close of the reporting period. Collateral at period end totaled $399,115 and is included in Investments in securities on the Statement of assets and liabilities (Notes 1 and 9).                                                                                                                                                                                                 |
| Master Intermediate Income Trust 29 |

| ∆ | This security, in part or in entirety, was pledged and segregated with the custodian for collateral on certain derivative contracts at the close of the reporting period. Collateral at period end totaled $494,128 and is included in Investments in securities on the Statement of assets and liabilities (Notes 1 and 9).                                                                                                                                                                                                                               |
| c | Senior loans are exempt from registration under the Securities Act of 1933, as amended, but contain certain restrictions on resale and cannot be sold publicly. These loans pay interest at rates which adjust periodically. The interest rates shown for senior loans are the current interest rates at the close of the reporting period. Senior loans are also subject to mandatory and/or optional prepayment which cannot be predicted. As a result, the remaining maturity may be substantially less than the stated maturity shown (Notes 1 and 7). |
| i | This security was pledged, or purchased with cash that was pledged, to the fund for collateral on certain derivative contracts (Note 1).                                                                                                                                                                                                                                                                                                                                                                                                                   |
| L | Affiliated company (Note 5). The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period.                                                                                                                                                                                                                                                                                                                                                                                                   |
| P | This security was pledged, or purchased with cash that was pledged, to the fund for collateral on certain