Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 134

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 134
---

receipts)

336,643

Unrealized

appreciation

on

OTC

swap

contracts

358,010

Unrealized

depreciation

on

OTC

swap

contracts

209,114

Total

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

$3,984,258

$2,687,370

a

This

amount

reflects

the

cumulative

appreciation

(depreciation)

of

futures

contracts

as

reported

in

the

Schedule

of

Investments.

Only

the

variation

margin

receivable/payable

at

year

end

is

separately

reported

within

the

Statement

of

Assets

and

Liabilities.

Prior

variation

margin

movements

were

recorded

to

cash

upon

receipt

or

payment.

b

This

amount

reflects

the

cumulative

appreciation

(depreciation)

of

centrally

cleared

swap

contracts

as

reported

in

the

Schedule

of

Investments.

Only

the

variation

margin

receivable/payable

at

year

end

is

separately

reported

within

the

Statement

of

Assets

and

Liabilities.

Prior

variation

margin

movements

were

recorded

to

cash

upon

receipt

or

payment.

Putnam

Master

Intermediate

Income

Trust

Notes

to

### Financial
Statements

53

franklintempleton.com

Annual

Report

For

the

year

ended

September

30,

2025,

the

effect

of

derivative

contracts

in

the Statement

of

### Operations
was

as

follows:

For

the

year

ended

September

30,

2025

,

the

average

month

end

notional

amount

of

futures

contracts,

swap

contracts

and

options,

and

the

average month

end

contract

value

for forward

exchange

contracts,

were as

follows:

At

September

30,

2025,

the

Fund's

OTC

derivative

assets

and

liabilities

are

as

follows:

#### Derivative

#### Contracts

#### Not

#### Accounted

#### for

#### as

#### Hedging

#### Instruments

#### Statement

#### of

###