# EDGAR Filing Document

**Accession Number:** 0000822671
**File Stem:** 0001752724-25-213349
**Filing Date:** 2025-9
**Character Count:** 70519
**Document Hash:** 04aa262aee99dc2fe80e307c8c9314da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-213349.hdr.sgml**: 20250905

**ACCESSION NUMBER**: 0001752724-25-213349

**CONFORMED SUBMISSION TYPE**: N-MFP3

**CONFIRMING COPY**: 

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20250905

**DATE AS OF CHANGE**: 20250905

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0000822671

**ORGANIZATION NAME:**
- **EIN:** 046649095
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-MFP3
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05346

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM CAPITAL MANAGER TRUST /MA/
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Putnam VT Government Money Market Fund (Series ID: S000003882)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000010859 | Class IA Shares |  |
| C000010860 | Class IB Shares |  |

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

## N-MFP: Filer Information
**Submission Type:** N-MFP3
**CIK:** 0000822671

### General Information

**Report for (YYYY-MM-DD):** 2025-08-31

**Registrant Full Name:** Putnam Variable Trust

**CIK Number of Registrant:** 0000822671

**LEI of Registrant:** 549300TBVD21LYBGBD46

**Name of Series:** Putnam VT Government Money Market Fund

**LEI of Series:** 549300EZL9T7TW0BA857

**EDGAR Series Identifier:** S000003882

**Total number of share classes in the series:** 2

**Is this the fund's final filing on Form N-MFP?:** No

**Has the fund acquired or merged with another fund?:** No

## Part A: Series-Level Information about the Fund

### Service Providers
| Role                          | Details                                                 | File/CIK Number   |
|:---|:---|:---|
| Investment Adviser            | Franklin Advisors, Inc.                                 | 801-26292         |
| Independent Public Accountant | PricewaterhouseCoopers LLP<br>City: Boston<br>State: MA |  |
| Administrator                 | Franklin Templeton Services, LLC                        |  |
| Transfer Agent                | Putnam Investor Services, Inc.<br>CIK: 0001448300       | 084-06331         |

### Fund Characteristics & Assets

- **Securities Act File Number:** 033-17486

- **Is this a Feeder Fund?:** No

- **Is this a Master Fund?:** No

- **Is this series for insurance company separate accounts?:** No

- **Money Market Fund Category:** Government

- **Is this a Retail Money Market Fund?:** No

- **Is this a Government Money Market Fund?:** No

- **WAM:** 15 days

- **WAL:** 62 days

- **Total Value of Portfolio Securities:** $82385690.10

- **Amortized Cost of Portfolio Securities:** $82382292.64

- **Cash:** $242863.40

- **Total Other Assets:** $142172.23

- **Total Liabilities:** $439637.18

- **Net Assets of Series:** $82327691.09

- **Number of Shares Outstanding (Series):** 82321699.2100

- **Does the fund seek to maintain a stable price per share?:** Yes

- **Stable Price Per Share:** $1.00

- **Is cash management vehicle an affiliated fund?:** No

- **Does the fund apply liquidity fees?:** No

### Daily & Weekly Liquid Assets
| Date       | Daily Liquid Assets ($)   | Weekly Liquid Assets ($)   | Daily Liquid Assets (%)   | Weekly Liquid Assets (%)   |
|:---|:---|:---|:---|:---|
| 2025-08-01 | $71802672.54              | $71802672.54               | 85.3400%                  | 85.3400%                   |
| 2025-08-04 | $71829869.23              | $71829869.23               | 85.0900%                  | 85.0900%                   |
| 2025-08-05 | $72050610.39              | $72050610.39               | 85.3800%                  | 85.3800%                   |
| 2025-08-06 | $72055459.51              | $72055459.51               | 84.4500%                  | 84.4500%                   |
| 2025-08-07 | $71693493.83              | $72512815.08               | 84.2800%                  | 85.2500%                   |
| 2025-08-08 | $71721327.51              | $72540745.01               | 84.3600%                  | 85.3300%                   |
| 2025-08-11 | $71511315.14              | $72331021.39               | 84.0400%                  | 85.0100%                   |
| 2025-08-12 | $71822419.76              | $72642222.26               | 84.3000%                  | 85.2600%                   |
| 2025-08-13 | $70542545.98              | $71362444.73               | 84.1700%                  | 85.1500%                   |
| 2025-08-14 | $70438995.20              | $71258990.20               | 84.1600%                  | 85.1400%                   |
| 2025-08-15 | $70440559.06              | $71260650.31               | 84.1100%                  | 85.0800%                   |
| 2025-08-18 | $70183759.09              | $71004139.09               | 83.1400%                  | 84.1100%                   |
| 2025-08-19 | $68864933.29              | $69685409.54               | 82.6300%                  | 83.6100%                   |
| 2025-08-20 | $68163554.94              | $68984127.44               | 82.7800%                  | 83.7700%                   |
| 2025-08-21 | $67896270.13              | $68716938.88               | 82.3600%                  | 83.3500%                   |
| 2025-08-22 | $67964435.56              | $68785200.56               | 81.5200%                  | 82.5000%                   |
| 2025-08-25 | $68939053.10              | $69760106.85               | 82.6400%                  | 83.6200%                   |
| 2025-08-26 | $68951836.17              | $69772986.17               | 81.7200%                  | 82.7000%                   |
| 2025-08-27 | $68447951.61              | $69269197.86               | 81.5600%                  | 82.5400%                   |
| 2025-08-28 | $68506071.43              | $69327413.93               | 81.6500%                  | 82.6300%                   |
| 2025-08-29 | $67336451.66              | $68157890.41               | 81.3800%                  | 82.3700%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-08-01 | 4.3800%             |
| 2025-08-04 | 4.3600%             |
| 2025-08-05 | 4.3600%             |
| 2025-08-06 | 4.3600%             |
| 2025-08-07 | 4.3500%             |
| 2025-08-08 | 4.3600%             |
| 2025-08-11 | 4.3700%             |
| 2025-08-12 | 4.3700%             |
| 2025-08-13 | 4.3700%             |
| 2025-08-14 | 4.3700%             |
| 2025-08-15 | 4.3700%             |
| 2025-08-18 | 4.3900%             |
| 2025-08-19 | 4.3800%             |
| 2025-08-20 | 4.3800%             |
| 2025-08-21 | 4.3700%             |
| 2025-08-22 | 4.3700%             |
| 2025-08-25 | 4.3400%             |
| 2025-08-26 | 4.3600%             |
| 2025-08-27 | 4.3600%             |
| 2025-08-28 | 4.3700%             |
| 2025-08-29 | 4.3700%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-08-01 | 1.0000                      |
|  |  |
| 2025-08-04 | 1.0000                      |
|  |  |
| 2025-08-05 | 1.0000                      |
|  |  |
| 2025-08-06 | 1.0000                      |
|  |  |
| 2025-08-07 | 1.0000                      |
|  |  |
| 2025-08-08 | 1.0000                      |
|  |  |
| 2025-08-11 | 1.0000                      |
|  |  |
| 2025-08-12 | 1.0000                      |
|  |  |
| 2025-08-13 | 1.0000                      |
|  |  |
| 2025-08-14 | 1.0000                      |
|  |  |
| 2025-08-15 | 1.0000                      |
|  |  |
| 2025-08-18 | 1.0000                      |
|  |  |
| 2025-08-19 | 1.0000                      |
|  |  |
| 2025-08-20 | 1.0000                      |
|  |  |
| 2025-08-21 | 1.0000                      |
|  |  |
| 2025-08-22 | 1.0000                      |
|  |  |
| 2025-08-25 | 1.0000                      |
|  |  |
| 2025-08-26 | 1.0000                      |
|  |  |
| 2025-08-27 | 1.0000                      |
|  |  |
| 2025-08-28 | 1.0000                      |
|  |  |
| 2025-08-29 | 1.0000                      |
|  |  |

## Part B: Class-Level Information about the Fund

### Class: Class IB

- **Minimum Initial Investment:** $500.00

- **Net Assets of Class:** $38935219.72

- **Number of Shares Outstanding:** 38933461.2900

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 1.0000          |
|  |  |
| 2025-08-04 | 1.0000          |
|  |  |
| 2025-08-05 | 1.0000          |
|  |  |
| 2025-08-06 | 1.0000          |
|  |  |
| 2025-08-07 | 1.0000          |
|  |  |
| 2025-08-08 | 1.0000          |
|  |  |
| 2025-08-11 | 1.0000          |
|  |  |
| 2025-08-12 | 1.0000          |
|  |  |
| 2025-08-13 | 1.0000          |
|  |  |
| 2025-08-14 | 1.0000          |
|  |  |
| 2025-08-15 | 1.0000          |
|  |  |
| 2025-08-18 | 1.0000          |
|  |  |
| 2025-08-19 | 1.0000          |
|  |  |
| 2025-08-20 | 1.0000          |
|  |  |
| 2025-08-21 | 1.0000          |
|  |  |
| 2025-08-22 | 1.0000          |
|  |  |
| 2025-08-25 | 1.0000          |
|  |  |
| 2025-08-26 | 1.0000          |
|  |  |
| 2025-08-27 | 1.0000          |
|  |  |
| 2025-08-28 | 1.0000          |
|  |  |
| 2025-08-29 | 1.0000          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $124342.94                | $6407.96                |
| 2025-08-04 | $0.00                     | $13452.02               |
| 2025-08-05 | $78.57                    | $7114.97                |
| 2025-08-06 | $0.00                     | $168278.54              |
| 2025-08-07 | $625.52                   | $731.77                 |
| 2025-08-08 | $0.00                     | $1582.62                |
| 2025-08-11 | $305003.87                | $700.96                 |
| 2025-08-12 | $0.00                     | $24475.73               |
| 2025-08-13 | $0.00                     | $64897.58               |
| 2025-08-14 | $0.00                     | $4369.44                |
| 2025-08-15 | $0.00                     | $11698.00               |
| 2025-08-18 | $0.00                     | $11277.16               |
| 2025-08-19 | $0.00                     | $6924.73                |
| 2025-08-20 | $0.00                     | $6342.66                |
| 2025-08-21 | $0.00                     | $25028.87               |
| 2025-08-22 | $0.00                     | $1146.83                |
| 2025-08-25 | $106.22                   | $7912.58                |
| 2025-08-26 | $0.00                     | $456173.59              |
| 2025-08-27 | $0.00                     | $25731.55               |
| 2025-08-28 | $0.00                     | $212523.47              |
| 2025-08-29 | $10373.50                 | $12581.13               |

**Total Gross Subscriptions (Month):** $440530.62

**Total Gross Redemptions (Month):** $1069352.16

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 3.7100%           |
| 2025-08-04 | 3.6900%           |
| 2025-08-05 | 3.6900%           |
| 2025-08-06 | 3.6900%           |
| 2025-08-07 | 3.6900%           |
| 2025-08-08 | 3.6900%           |
| 2025-08-11 | 3.7000%           |
| 2025-08-12 | 3.7000%           |
| 2025-08-13 | 3.7000%           |
| 2025-08-14 | 3.7000%           |
| 2025-08-15 | 3.7000%           |
| 2025-08-18 | 3.7200%           |
| 2025-08-19 | 3.7100%           |
| 2025-08-20 | 3.7100%           |
| 2025-08-21 | 3.7000%           |
| 2025-08-22 | 3.6900%           |
| 2025-08-25 | 3.6700%           |
| 2025-08-26 | 3.6900%           |
| 2025-08-27 | 3.6900%           |
| 2025-08-28 | 3.7000%           |
| 2025-08-29 | 3.7000%           |

**Beneficial/Record Owner Categories**
| Category          | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Insurance company |  | 96.0500%         | 0.0000%              |

### Class: Class IA

- **Minimum Initial Investment:** $500.00

- **Net Assets of Class:** $43392471.37

- **Number of Shares Outstanding:** 43388237.9200

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 1.0000          |
|  |  |
| 2025-08-04 | 1.0000          |
|  |  |
| 2025-08-05 | 1.0000          |
|  |  |
| 2025-08-06 | 1.0000          |
|  |  |
| 2025-08-07 | 1.0000          |
|  |  |
| 2025-08-08 | 1.0000          |
|  |  |
| 2025-08-11 | 1.0000          |
|  |  |
| 2025-08-12 | 1.0000          |
|  |  |
| 2025-08-13 | 1.0000          |
|  |  |
| 2025-08-14 | 1.0000          |
|  |  |
| 2025-08-15 | 1.0000          |
|  |  |
| 2025-08-18 | 1.0000          |
|  |  |
| 2025-08-19 | 1.0000          |
|  |  |
| 2025-08-20 | 1.0000          |
|  |  |
| 2025-08-21 | 1.0000          |
|  |  |
| 2025-08-22 | 1.0000          |
|  |  |
| 2025-08-25 | 1.0000          |
|  |  |
| 2025-08-26 | 1.0000          |
|  |  |
| 2025-08-27 | 1.0000          |
|  |  |
| 2025-08-28 | 1.0000          |
|  |  |
| 2025-08-29 | 1.0000          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $148552.24                | $3186.56                |
| 2025-08-04 | $254624.77                | $29045.61               |
| 2025-08-05 | $3885.03                  | $299.59                 |
| 2025-08-06 | $1634.38                  | $203975.64              |
| 2025-08-07 | $101605.57                | $82255.15               |
| 2025-08-08 | $26073.73                 | $260397.09              |
| 2025-08-11 | $485.25                   | $12960.95               |
| 2025-08-12 | $114850.78                | $443830.01              |
| 2025-08-13 | $1617.88                  | $31493.66               |
| 2025-08-14 | $0.00                     | $1913.82                |
| 2025-08-15 | $54142.67                 | $337140.61              |
| 2025-08-18 | $44243.76                 | $1370223.12             |
| 2025-08-19 | $294845.56                | $57797.10               |
| 2025-08-20 | $124.16                   | $1811.98                |
| 2025-08-21 | $91497.93                 | $6436.18                |
| 2025-08-22 | $953391.21                | $2262.10                |
| 2025-08-25 | $24944.91                 | $12694.80               |
| 2025-08-26 | $24570.73                 | $66006.03               |
| 2025-08-27 | $79163.61                 | $3524.76                |
| 2025-08-28 | $0.00                     | $30339.97               |
| 2025-08-29 | $30.34                    | $14558.52               |

**Total Gross Subscriptions (Month):** $2220284.51

**Total Gross Redemptions (Month):** $2972153.25

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 3.9600%           |
| 2025-08-04 | 3.9400%           |
| 2025-08-05 | 3.9400%           |
| 2025-08-06 | 3.9400%           |
| 2025-08-07 | 3.9400%           |
| 2025-08-08 | 3.9400%           |
| 2025-08-11 | 3.9500%           |
| 2025-08-12 | 3.9500%           |
| 2025-08-13 | 3.9500%           |
| 2025-08-14 | 3.9500%           |
| 2025-08-15 | 3.9500%           |
| 2025-08-18 | 3.9700%           |
| 2025-08-19 | 3.9600%           |
| 2025-08-20 | 3.9600%           |
| 2025-08-21 | 3.9500%           |
| 2025-08-22 | 3.9400%           |
| 2025-08-25 | 3.9200%           |
| 2025-08-26 | 3.9400%           |
| 2025-08-27 | 3.9400%           |
| 2025-08-28 | 3.9500%           |
| 2025-08-29 | 3.9500%           |

**Beneficial/Record Owner Categories**
| Category          | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Insurance company |  | 92.4200%         | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ERTE1, C.4 - ISIN: US3133ERTE18, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $265171.95
- **C.18.a - Value (excl. sponsor support):** $265171.95
- **C.19 - Percentage of Net Assets:** 0.3200%
- **C.17 - Yield as of Reporting Date:** 4.4900%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-09-16
- **C.13 - Final Legal Maturity Date:** 2026-09-16
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 2: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ER7B1, C.4 - ISIN: US3133ER7B16, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $950208.74
- **C.18.a - Value (excl. sponsor support):** $950208.74
- **C.19 - Percentage of Net Assets:** 1.1500%
- **C.17 - Yield as of Reporting Date:** 4.4400%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-06-12
- **C.13 - Final Legal Maturity Date:** 2026-06-12
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 3: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ERZL8, C.4 - ISIN: US3133ERZL86, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $450028.45
- **C.18.a - Value (excl. sponsor support):** $450028.45
- **C.19 - Percentage of Net Assets:** 0.5500%
- **C.17 - Yield as of Reporting Date:** 4.4200%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2025-10-30
- **C.13 - Final Legal Maturity Date:** 2025-10-30
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 4: BNP Paribas SA

- **C.1 - Title:** BNP Paribas SA
- **C.6 - Investment Category:** U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash
- **Identifiers:** C.3 - CUSIP: N/A, C.3 - LEI: R0MUWSFPU8MPRO8K5P83, C.5 - Other ID: ZS38LHN
- **C.18 - Value (incl. sponsor support):** $4420257.15
- **C.18.a - Value (excl. sponsor support):** $4420257.15
- **C.19 - Percentage of Net Assets:** 5.3700%
- **C.17 - Yield as of Reporting Date:** 4.3400%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name                              | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                          |
|:---|:---|:---|:---|:---|:---|:---|
| Federal Home Loan Mortgage Corp.         | 2053-12-01      | 6.0000%  | N/A     | $5863.06           | $4502.86           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-07-01      | 6.0000%  | N/A     | $429356.26         | $440916.29         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2048-07-01      | 4.5000%  | N/A     | $11374.34          | $2065.34           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2053-01-01      | 6.0000%  | N/A     | $25670.42          | $25908.56          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2033-11-01      | 6.3530%  | N/A     | $61728.17          | $2723.89           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-01-01      | 5.5000%  | N/A     | $7280.22           | $6902.31           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2047-07-01      | 5.0000%  | N/A     | $5304.68           | $1978.58           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2047-11-01      | 4.0000%  | N/A     | $105271.05         | $30086.39          | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2052-05-20      | 2.5000%  | N/A     | $45210.05          | $29210.27          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-05-02      | 6.0000%  | N/A     | $363745.79         | $343794.22         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2052-07-01      | 3.0000%  | N/A     | $98957.57          | $73663.10          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2043-03-01      | 3.0000%  | N/A     | $12837.55          | $2289.83           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2051-08-01      | 1.9700%  | N/A     | $10060.60          | $7609.85           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2048-08-01      | 4.9900%  | N/A     | $73131.45          | $4413.57           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-05-01      | 6.5000%  | N/A     | $321977.02         | $334988.81         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2053-09-01      | 5.5000%  | N/A     | $126455.87         | $119119.85         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-06-01      | 6.0000%  | N/A     | $908429.65         | $915783.35         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-08-01      | 5.5000%  | N/A     | $7691.46           | $7825.70           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2053-08-01      | 4.0000%  | N/A     | $2195.04           | $1880.92           | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2054-10-20      | 5.5000%  | N/A     | $38075.03          | $36603.69          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2054-12-01      | 5.0000%  | N/A     | $24181.45          | $22843.72          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2053-06-01      | 5.5000%  | N/A     | $2743.80           | $2258.92           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2052-05-01      | 2.2650%  | N/A     | $17902.64          | $13159.63          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2054-09-01      | 6.5000%  | N/A     | $18812.93          | $16139.92          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2052-08-01      | 5.0000%  | N/A     | $35755.53          | $14835.18          | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2054-03-20      | 5.0000%  | N/A     | $377374.11         | $367157.16         | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2053-06-20      | 6.0000%  | N/A     | $606299.39         | $402035.36         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2053-06-01      | 5.0000%  | N/A     | $70068.93          | $70002.23          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2053-03-01      | 4.6810%  | N/A     | $21150.76          | $17267.60          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-02-01      | 6.0000%  | N/A     | $224183.63         | $211163.19         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2048-12-01      | 4.2800%  | N/A     | $26136.17          | $22250.30          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2030-02-01      | 3.0000%  | N/A     | $62416.03          | $4721.34           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2043-08-01      | 3.5000%  | N/A     | $37001.73          | $4891.97           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-08-01      | 5.0000%  | N/A     | $47029.48          | $46592.06          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2052-11-01      | 5.5000%  | N/A     | $2268.21           | $1879.11           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-04-01      | 6.5000%  | N/A     | $561285.14         | $583418.23         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2051-11-01      | 2.5000%  | N/A     | $1829.20           | $1023.25           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2055-04-01      | 6.0000%  | N/A     | $14686.54          | $15064.90          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2050-10-01      | 2.0000%  | N/A     | $75710.33          | $40954.40          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-08-01      | 6.0000%  | N/A     | $5337.68           | $5488.87           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-08-01      | 6.0000%  | N/A     | $178356.51         | $183124.28         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2052-05-01      | 2.5000%  | N/A     | $72501.80          | $50220.66          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-07-01      | 6.0000%  | N/A     | $19810.83          | $20420.61          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association    | 2047-04-01      | 6.7570%  | N/A     | $1729.44           | $1656.23           | Agency Mortgage-Backed Securities |

### Security 5: Bank of Montreal

- **C.1 - Title:** Bank of Montreal
- **C.6 - Investment Category:** U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash
- **Identifiers:** C.3 - CUSIP: N/A, C.3 - LEI: NQQ6HPCNCCU6TUTQYE16, C.5 - Other ID: ZS38L4N
- **C.18 - Value (incl. sponsor support):** $2743801.17
- **C.18.a - Value (excl. sponsor support):** $2743801.17
- **C.19 - Percentage of Net Assets:** 3.3300%
- **C.17 - Yield as of Reporting Date:** 4.3400%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name                              | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                          |
|:---|:---|:---|:---|:---|:---|:---|
| Government National Mortgage Association | 2055-08-20      | 6.5000%  | N/A     | $533924.94         | $556719.56         | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2055-08-20      | 6.0000%  | N/A     | $674179.20         | $695547.76         | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2055-04-20      | 5.5000%  | N/A     | $161640.36         | $160685.24         | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2055-06-20      | 6.0000%  | N/A     | $663492.83         | $676111.58         | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2055-06-20      | 6.0000%  | N/A     | $697238.29         | $710962.66         | Agency Mortgage-Backed Securities |

### Security 6: Federal National Mortgage Association

- **C.1 - Title:** Federal National Mortgage Association
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3135G07H0, C.4 - ISIN: US3135G07H00, C.3 - LEI: B1V7KEBTPIMZEU4LTD58
- **C.18 - Value (incl. sponsor support):** $450255.43
- **C.18.a - Value (excl. sponsor support):** $450255.43
- **C.19 - Percentage of Net Assets:** 0.5500%
- **C.17 - Yield as of Reporting Date:** 4.4800%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-07-29
- **C.13 - Final Legal Maturity Date:** 2026-07-29
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 7: Banc of America Securities LLC

- **C.1 - Title:** Banc of America Securities LLC
- **C.6 - Investment Category:** U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash
- **Identifiers:** C.3 - CUSIP: N/A, C.3 - LEI: 549300HN4UKV1E2R3U73, C.5 - Other ID: ZS38L4Y
- **C.18 - Value (incl. sponsor support):** $5324766.89
- **C.18.a - Value (excl. sponsor support):** $5324766.89
- **C.19 - Percentage of Net Assets:** 6.4700%
- **C.17 - Yield as of Reporting Date:** 4.3400%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name                           | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                          |
|:---|:---|:---|:---|:---|:---|:---|
| Federal National Mortgage Association | 2040-08-01      | 4.5000%  | N/A     | $1892417.92        | $1894632.05        | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-03-01      | 2.0000%  | N/A     | $153652.87         | $104719.57         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2047-10-01      | 4.0000%  | N/A     | $80317.43          | $33408.02          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2047-05-01      | 4.5000%  | N/A     | $9235.63           | $2187.44           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2054-04-01      | 5.5000%  | N/A     | $406687.82         | $357355.66         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2055-05-01      | 6.0000%  | N/A     | $41972.26          | $37433.45          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-12-01      | 3.5000%  | N/A     | $2189.44           | $1814.88           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2055-08-01      | 6.5000%  | N/A     | $48787.57          | $51540.77          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2054-04-01      | 6.5000%  | N/A     | $7134.83           | $5720.53           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2056-08-01      | 5.0000%  | N/A     | $567235.16         | $148314.97         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2040-08-01      | 5.5000%  | N/A     | $667651.85         | $687063.68         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2055-07-01      | 5.0000%  | N/A     | $122289.68         | $121334.83         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2036-06-01      | 3.0000%  | N/A     | $989262.22         | $137010.38         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2048-07-01      | 4.0000%  | N/A     | $1527451.14        | $283900.23         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2055-08-01      | 7.0000%  | N/A     | $312130.07         | $330627.97         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2050-04-01      | 3.0000%  | N/A     | $7607.61           | $1840.68           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2048-03-01      | 3.5000%  | N/A     | $89813.76          | $19329.51          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2053-06-01      | 6.0000%  | N/A     | $1374961.94        | $1140023.07        | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2050-04-01      | 3.0000%  | N/A     | $47705.56          | $15922.86          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2049-10-01      | 3.5000%  | N/A     | $24206.98          | $6292.91           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2046-03-01      | 3.5000%  | N/A     | $92483.22          | $36565.06          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2045-04-01      | 4.0000%  | N/A     | $44998.34          | $14223.71          | Agency Mortgage-Backed Securities |

### Security 8: U.S. Treasury Bills

- **C.1 - Title:** U.S. Treasury Bills
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797QN0, C.4 - ISIN: US912797QN08, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $788654.48
- **C.18.a - Value (excl. sponsor support):** $788654.48
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 4.0400%
- **C.11 - Maturity Date (WAM):** 2026-05-14
- **C.12 - Maturity Date (WAL):** 2026-05-14
- **C.13 - Final Legal Maturity Date:** 2026-05-14
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 9: Federal Home Loan Banks

- **C.1 - Title:** Federal Home Loan Banks
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3130B53U0, C.4 - ISIN: US3130B53U06, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $899989.81
- **C.18.a - Value (excl. sponsor support):** $899989.81
- **C.19 - Percentage of Net Assets:** 1.0900%
- **C.17 - Yield as of Reporting Date:** 4.4600%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-02-19
- **C.13 - Final Legal Maturity Date:** 2026-02-19
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 10: U.S. Treasury Bills

- **C.1 - Title:** U.S. Treasury Bills
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797PV3, C.4 - ISIN: US912797PV33, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $930134.55
- **C.18.a - Value (excl. sponsor support):** $930134.55
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 4.0300%
- **C.11 - Maturity Date (WAM):** 2026-03-19
- **C.12 - Maturity Date (WAL):** 2026-03-19
- **C.13 - Final Legal Maturity Date:** 2026-03-19
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 11: Federal Home Loan Banks

- **C.1 - Title:** Federal Home Loan Banks
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385PY6, C.4 - ISIN: US313385PY62, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $841155.51
- **C.18.a - Value (excl. sponsor support):** $841155.51
- **C.19 - Percentage of Net Assets:** 1.0200%
- **C.17 - Yield as of Reporting Date:** 4.0700%
- **C.11 - Maturity Date (WAM):** 2025-12-01
- **C.12 - Maturity Date (WAL):** 2025-12-01
- **C.13 - Final Legal Maturity Date:** 2025-12-01
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 12: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ETDK0, C.4 - ISIN: US3133ETDK08, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $1100350.90
- **C.18.a - Value (excl. sponsor support):** $1100350.90
- **C.19 - Percentage of Net Assets:** 1.3400%
- **C.17 - Yield as of Reporting Date:** 4.4900%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-08-17
- **C.13 - Final Legal Maturity Date:** 2026-08-17
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 13: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ETSZ1, C.4 - ISIN: US3133ETSZ12, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $934995.72
- **C.18.a - Value (excl. sponsor support):** $934995.72
- **C.19 - Percentage of Net Assets:** 1.1400%
- **C.17 - Yield as of Reporting Date:** 4.4700%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-10-13
- **C.13 - Final Legal Maturity Date:** 2026-10-13
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 14: Federal Home Loan Banks

- **C.1 - Title:** Federal Home Loan Banks
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3130B7LG7, C.4 - ISIN: US3130B7LG72, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $935337.97
- **C.18.a - Value (excl. sponsor support):** $935337.97
- **C.19 - Percentage of Net Assets:** 1.1400%
- **C.17 - Yield as of Reporting Date:** 4.4800%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-11-27
- **C.13 - Final Legal Maturity Date:** 2026-11-27
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 15: Federal Home Loan Banks

- **C.1 - Title:** Federal Home Loan Banks
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3130B3G64, C.4 - ISIN: US3130B3G642, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $950187.47
- **C.18.a - Value (excl. sponsor support):** $950187.47
- **C.19 - Percentage of Net Assets:** 1.1500%
- **C.17 - Yield as of Reporting Date:** 4.4900%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-11-04
- **C.13 - Final Legal Maturity Date:** 2026-11-04
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 16: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313397MQ1, C.4 - ISIN: US313397MQ12, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $821429.58
- **C.18.a - Value (excl. sponsor support):** $821429.58
- **C.19 - Percentage of Net Assets:** 1.0000%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2025-10-06
- **C.12 - Maturity Date (WAL):** 2025-10-06
- **C.13 - Final Legal Maturity Date:** 2025-10-06
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 17: Federal Home Loan Banks

- **C.1 - Title:** Federal Home Loan Banks
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3130B7JF2, C.4 - ISIN: US3130B7JF28, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $939935.69
- **C.18.a - Value (excl. sponsor support):** $939935.69
- **C.19 - Percentage of Net Assets:** 1.1400%
- **C.17 - Yield as of Reporting Date:** 3.9900%
- **C.11 - Maturity Date (WAM):** 2026-09-18
- **C.12 - Maturity Date (WAL):** 2026-09-18
- **C.13 - Final Legal Maturity Date:** 2026-09-18
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 18: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133EREL1, C.4 - ISIN: US3133EREL16, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $950313.24
- **C.18.a - Value (excl. sponsor support):** $950313.24
- **C.19 - Percentage of Net Assets:** 1.1500%
- **C.17 - Yield as of Reporting Date:** 4.4700%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-05-14
- **C.13 - Final Legal Maturity Date:** 2026-05-14
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 19: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ETQP5, C.4 - ISIN: US3133ETQP57, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $999991.15
- **C.18.a - Value (excl. sponsor support):** $999991.15
- **C.19 - Percentage of Net Assets:** 1.2200%
- **C.17 - Yield as of Reporting Date:** 4.4700%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-10-21
- **C.13 - Final Legal Maturity Date:** 2026-10-21
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 20: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3134HATA1, C.4 - ISIN: US3134HATA17, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $950702.44
- **C.18.a - Value (excl. sponsor support):** $950702.44
- **C.19 - Percentage of Net Assets:** 1.1500%
- **C.17 - Yield as of Reporting Date:** 4.5100%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-10-16
- **C.13 - Final Legal Maturity Date:** 2026-10-16
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 21: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ETKG1, C.4 - ISIN: US3133ETKG13, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $1049997.08
- **C.18.a - Value (excl. sponsor support):** $1049997.08
- **C.19 - Percentage of Net Assets:** 1.2800%
- **C.17 - Yield as of Reporting Date:** 4.4600%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-10-05
- **C.13 - Final Legal Maturity Date:** 2026-10-05
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 22: Goldman Sachs & Co. LLC

- **C.1 - Title:** Goldman Sachs & Co. LLC
- **C.6 - Investment Category:** U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash
- **Identifiers:** C.3 - CUSIP: N/A, C.3 - LEI: FOR8UP27PHTHYVLBNG30, C.5 - Other ID: ZS38KYB
- **C.18 - Value (incl. sponsor support):** $21792000.00
- **C.18.a - Value (excl. sponsor support):** $21792000.00
- **C.19 - Percentage of Net Assets:** 26.4700%
- **C.17 - Yield as of Reporting Date:** 4.3400%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name                              | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                          |
|:---|:---|:---|:---|:---|:---|:---|
| Government National Mortgage Association | 2052-10-20      | 5.5000%  | N/A     | $3419472.00        | $3472021.34        | Agency Mortgage-Backed Securities |
| Government National Mortgage Association | 2052-07-20      | 4.5000%  | N/A     | $22295871.00       | $16888608.98       | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.         | 2055-03-01      | 6.5000%  | N/A     | $1925802.00        | $1851374.34        | Agency Mortgage-Backed Securities |
| Federal Home Loan Banks                  | 2030-09-13      | 4.5000%  | N/A     | $15000.00          | $15836.39          | Agency Mortgage-Backed Securities |

### Security 23: Royal Bank of Canada

- **C.1 - Title:** Royal Bank of Canada
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: N/A, C.3 - LEI: ES7IP3U3RHIGC71XBU11, C.5 - Other ID: ZS38L5N
- **C.18 - Value (incl. sponsor support):** $10060604.29
- **C.18.a - Value (excl. sponsor support):** $10060604.29
- **C.19 - Percentage of Net Assets:** 12.2200%
- **C.17 - Yield as of Reporting Date:** 4.3400%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name            | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| United States Treasury | 2028-05-15      | 2.8750%  | N/A     | $273425.27         | $270573.52         | U.S. Treasuries (including strips) |
| United States Treasury | 2027-02-28      | 1.8750%  | N/A     | $3355712.73        | $3296988.09        | U.S. Treasuries (including strips) |
| United States Treasury | 2027-08-15      | 3.7500%  | N/A     | $6676034.09        | $6699204.13        | U.S. Treasuries (including strips) |

### Security 24: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ERBC4, C.4 - ISIN: US3133ERBC44, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $950242.22
- **C.18.a - Value (excl. sponsor support):** $950242.22
- **C.19 - Percentage of Net Assets:** 1.1500%
- **C.17 - Yield as of Reporting Date:** 4.4400%
- **C.11 - Maturity Date (WAM):** 2025-09-01
- **C.12 - Maturity Date (WAL):** 2026-02-12
- **C.13 - Final Legal Maturity Date:** 2026-02-12
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 25: Federal Farm Credit Banks Funding Corp.

- **C.1 - Title:** Federal Farm Credit Banks Funding Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as coupon-paying notes)
- **Identifiers:** C.3 - CUSIP: 3133ETJQ1, C.4 - ISIN: US3133ETJQ14, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $849369.29
- **C.18.a - Value (excl. sponsor support):** $849369.29
- **C.19 - Percentage of Net Assets:** 1.0300%
- **C.17 - Yield as of Reporting Date:** 4.2400%
- **C.11 - Maturity Date (WAM):** 2026-05-28
- **C.12 - Maturity Date (WAL):** 2026-05-28
- **C.13 - Final Legal Maturity Date:** 2026-05-28
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 26: HSBC Securities USA, Inc.

- **C.1 - Title:** HSBC Securities USA, Inc.
- **C.6 - Investment Category:** U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash
- **Identifiers:** C.3 - CUSIP: N/A, C.3 - LEI: CYYGQCGNHMHPSMRL3R97, C.5 - Other ID: ZS38L4Q
- **C.18 - Value (incl. sponsor support):** $18292007.76
- **C.18.a - Value (excl. sponsor support):** $18292007.76
- **C.19 - Percentage of Net Assets:** 22.2200%
- **C.17 - Yield as of Reporting Date:** 4.3400%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name                           | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                          |
|:---|:---|:---|:---|:---|:---|:---|
| Federal National Mortgage Association | 2053-11-01      | 5.5000%  | N/A     | $19429.00          | $16701.37          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-11-01      | 5.5000%  | N/A     | $127770.41         | $108232.34         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2051-12-01      | 2.5000%  | N/A     | $12767.78          | $8882.56           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2054-06-01      | 6.0000%  | N/A     | $373674.40         | $308398.10         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2053-05-01      | 5.0000%  | N/A     | $67433.19          | $57597.83          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-12-01      | 5.0000%  | N/A     | $1002681.53        | $843079.33         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2051-08-01      | 2.5000%  | N/A     | $3621.82           | $2265.86           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2045-05-01      | 3.5000%  | N/A     | $906566.54         | $151432.33         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2043-04-01      | 3.5000%  | N/A     | $1440141.19        | $290271.63         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2055-03-01      | 4.5000%  | N/A     | $167095.84         | $156867.44         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2050-07-01      | 4.5000%  | N/A     | $996988.76         | $248985.34         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-03-01      | 2.5000%  | N/A     | $1682.86           | $1104.15           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2042-06-01      | 3.0000%  | N/A     | $3329.15           | $2364.90           | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2048-08-01      | 4.0000%  | N/A     | $6516930.08        | $957582.13         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-08-01      | 3.5000%  | N/A     | $40242.42          | $27601.84          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2054-02-01      | 4.5000%  | N/A     | $478023.54         | $407192.81         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2054-02-01      | 6.0000%  | N/A     | $94796.94          | $92441.27          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2053-03-01      | 2.5000%  | N/A     | $9490.52           | $7499.14           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2055-06-01      | 6.0000%  | N/A     | $158636.19         | $165593.28         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2041-02-01      | 4.5000%  | N/A     | $5487.60           | $1039.91           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2045-09-01      | 3.5000%  | N/A     | $2240004.73        | $258925.64         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-09-01      | 5.0000%  | N/A     | $3849472.55        | $3039978.41        | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2053-11-01      | 6.5000%  | N/A     | $198851.10         | $162156.28         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-04-01      | 2.5000%  | N/A     | $6787.36           | $4636.93           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2053-11-01      | 5.5000%  | N/A     | $8420.76           | $7563.31           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2047-03-01      | 3.5000%  | N/A     | $8780.16           | $2697.74           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2043-02-01      | 3.5000%  | N/A     | $1215589.08        | $805305.15         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2044-09-01      | 4.0000%  | N/A     | $2176426.98        | $228054.11         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2053-02-01      | 5.5000%  | N/A     | $330428.00         | $235148.47         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2045-11-01      | 2.0000%  | N/A     | $2693070.55        | $1551471.84        | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2054-03-01      | 5.5000%  | N/A     | $26975.88          | $18761.57          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-08-01      | 4.0000%  | N/A     | $903578.36         | $699798.41         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2049-03-01      | 5.0000%  | N/A     | $1709357.39        | $427645.85         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2042-01-01      | 2.5000%  | N/A     | $2524.30           | $1600.73           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-12-01      | 4.3620%  | N/A     | $869067.63         | $711806.70         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2054-12-01      | 5.0000%  | N/A     | $88535.22          | $86854.80          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2053-11-01      | 6.5000%  | N/A     | $175191.78         | $133797.94         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2053-09-01      | 6.0000%  | N/A     | $37513.47          | $31090.28          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2042-01-01      | 3.5000%  | N/A     | $7203433.63        | $512527.69         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-04-01      | 2.0000%  | N/A     | $16908.33          | $12151.09          | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-04-01      | 2.5000%  | N/A     | $323079.00         | $203149.75         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-07-01      | 4.5000%  | N/A     | $5513.98           | $3719.93           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2043-02-01      | 3.5000%  | N/A     | $81692.11          | $14157.22          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-10-01      | 5.0000%  | N/A     | $1851270.60        | $1355197.17        | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2054-02-01      | 6.0000%  | N/A     | $126592.03         | $115944.13         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-10-01      | 5.0000%  | N/A     | $1829200.78        | $1446300.24        | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-10-01      | 6.0000%  | N/A     | $831220.44         | $555883.77         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2053-06-01      | 5.0000%  | N/A     | $3067.39           | $2638.42           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2055-01-01      | 5.5000%  | N/A     | $49113.46          | $42188.47          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2053-08-01      | 6.5000%  | N/A     | $151563.92         | $116959.54         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2052-12-01      | 6.0000%  | N/A     | $141491.31         | $103213.77         | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2051-02-01      | 2.0000%  | N/A     | $2687015.75        | $1505380.11        | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2051-04-01      | 4.5000%  | N/A     | $1397509.39        | $118942.87         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2047-09-01      | 3.5000%  | N/A     | $13454.83          | $3413.69           | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2055-07-01      | 6.0000%  | N/A     | $106955.27         | $110611.72         | Agency Mortgage-Backed Securities |
| Federal Home Loan Mortgage Corp.      | 2052-05-01      | 3.5000%  | N/A     | $14913.62          | $10370.02          | Agency Mortgage-Backed Securities |
| Federal National Mortgage Association | 2053-11-01      | 7.0000%  | N/A     | $209845.91         | $171667.87         | Agency Mortgage-Backed Securities |

### Security 27: Bank of Nova Scotia (The)

- **C.1 - Title:** Bank of Nova Scotia (The)
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: N/A, C.3 - LEI: L3I9ZG2KFGXZ61BMYR72, C.5 - Other ID: ZS38L4M
- **C.18 - Value (incl. sponsor support):** $2743801.17
- **C.18.a - Value (excl. sponsor support):** $2743801.17
- **C.19 - Percentage of Net Assets:** 3.3300%
- **C.17 - Yield as of Reporting Date:** 4.3300%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** Yes

**Collateral:**
| Issuer Name            | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| United States Treasury | 2030-02-28      | 4.0000%  | N/A     | $50032.30          | $51708.01          | U.S. Treasuries (including strips) |
| United States Treasury | 2030-06-30      | 3.8750%  | N/A     | $910.94            | $924.03            | U.S. Treasuries (including strips) |
| United States Treasury | 2030-01-31      | 3.5000%  | N/A     | $105555.86         | $105096.60         | U.S. Treasuries (including strips) |
| United States Treasury | 2029-10-31      | 4.0000%  | N/A     | $1814.57           | $1862.29           | U.S. Treasuries (including strips) |
| United States Treasury | 2026-01-31      | 4.2500%  | N/A     | $914.60            | $917.84            | U.S. Treasuries (including strips) |
| United States Treasury | 2030-09-30      | 4.6250%  | N/A     | $870.70            | $923.40            | U.S. Treasuries (including strips) |
| United States Treasury | 2033-11-15      | 4.5000%  | N/A     | $1781.64           | $1861.94           | U.S. Treasuries (including strips) |
| United States Treasury | 2027-02-15      | 2.2500%  | N/A     | $936.55            | $917.42            | U.S. Treasuries (including strips) |
| United States Treasury | 2031-01-15      | 0.1250%  | N/A     | $793.87            | $927.41            | U.S. Treasuries (including strips) |
| United States Treasury | 2025-10-15      | 0.1250%  | N/A     | $196701.28         | $243959.67         | U.S. Treasuries (including strips) |
| United States Treasury | 2027-12-31      | 0.6250%  | N/A     | $984.11            | $919.43            | U.S. Treasuries (including strips) |
| United States Treasury | 2027-01-15      | 4.0000%  | N/A     | $910.94            | $917.95            | U.S. Treasuries (including strips) |
| United States Treasury | 2027-06-15      | 4.6250%  | N/A     | $914.60            | $937.92            | U.S. Treasuries (including strips) |
| United States Treasury | 2032-01-15      | 0.1250%  | N/A     | $863.38            | $927.71            | U.S. Treasuries (including strips) |
| United States Treasury | 2028-09-30      | 4.6250%  | N/A     | $67943.83          | $71235.80          | U.S. Treasuries (including strips) |
| United States Treasury | 2029-02-15      | 5.2500%  | N/A     | $2670.63           | $2822.97           | U.S. Treasuries (including strips) |
| United States Treasury | 2031-07-15      | 0.1250%  | N/A     | $823.14            | $928.53            | U.S. Treasuries (including strips) |
| United States Treasury | 2026-04-30      | 4.8750%  | N/A     | $17413.99          | $17791.64          | U.S. Treasuries (including strips) |
| United States Treasury | 2027-04-15      | 0.1250%  | N/A     | $819.48            | $923.45            | U.S. Treasuries (including strips) |
| United States Treasury | 2025-12-31      | 2.6250%  | N/A     | $918.26            | $917.37            | U.S. Treasuries (including strips) |
| United States Treasury | 2044-02-15      | 4.5000%  | N/A     | $1371.90           | $1323.25           | U.S. Treasuries (including strips) |
| United States Treasury | 2027-11-30      | 3.8750%  | N/A     | $914.60            | $927.93            | U.S. Treasuries (including strips) |
| United States Treasury | 2027-06-30      | 3.2500%  | N/A     | $40952.15          | $40862.13          | U.S. Treasuries (including strips) |
| United States Treasury | 2033-01-15      | 1.1250%  | N/A     | $601968.03         | $634108.55         | U.S. Treasuries (including strips) |
| United States Treasury | 2028-03-31      | 3.6250%  | N/A     | $907.28            | $921.31            | U.S. Treasuries (including strips) |
| United States Treasury | 2027-05-15      | 2.3750%  | N/A     | $932.89            | $918.86            | U.S. Treasuries (including strips) |
| United States Treasury | 2031-03-31      | 4.1250%  | N/A     | $914.60            | $946.35            | U.S. Treasuries (including strips) |
| United States Treasury | 2026-10-31      | 4.1250%  | N/A     | $903.63            | $918.71            | U.S. Treasuries (including strips) |
| United States Treasury | 2029-09-30      | 3.5000%  | N/A     | $17476.18          | $17628.23          | U.S. Treasuries (including strips) |
| United States Treasury | 2027-07-31      | 0.3750%  | N/A     | $77532.50          | $72864.39          | U.S. Treasuries (including strips) |
| United States Treasury | 2034-07-15      | 1.8750%  | N/A     | $914.60            | $956.12            | U.S. Treasuries (including strips) |
| United States Treasury | 2032-07-15      | 0.6250%  | N/A     | $340267.93         | $358945.77         | U.S. Treasuries (including strips) |
| United States Treasury | 2027-07-15      | 0.3750%  | N/A     | $702.41            | $921.32            | U.S. Treasuries (including strips) |
| United States Treasury | 2027-08-15      | 2.2500%  | N/A     | $115715.24         | $112736.15         | U.S. Treasuries (including strips) |
| United States Treasury | 2031-02-15      | 1.1250%  | N/A     | $8344.81           | $7288.34           | U.S. Treasuries (including strips) |
| United States Treasury | 2030-02-15      | 1.5000%  | N/A     | $8531.39           | $7783.10           | U.S. Treasuries (including strips) |
| United States Treasury | 2028-10-15      | 2.3750%  | N/A     | $928897.42         | $1032553.20        | U.S. Treasuries (including strips) |

## N-MFP: Signatures

**Registrant:** Putnam Variable Trust

**Date:** 2025-09-05

**By:** /s/Jeff White

**Name of Signing Officer:** Jeff White

**Title of Signing Officer:** Vice President