# EDGAR Filing Document

**Accession Number:** 0000081247
**File Stem:** 0000869392-23-000705
**Filing Date:** 2023-3
**Character Count:** 120741
**Document Hash:** 76c4aacdd7f7fbf01f526018af3429fb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000705.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0000869392-23-000705

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM CONVERTIBLE SECURITIES FUND
- **CENTRAL INDEX KEY:** 0000081247
- **IRS NUMBER:** 042493360
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02280
- **FILM NUMBER:** 23774703

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6177601000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM CONVERTIBLE INCOME GROWTH TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM CONVERTIBLE FUND
- **DATE OF NAME CHANGE:** 19841212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM CONVERTIBLE FUND INC /PRED/
- **DATE OF NAME CHANGE:** 19821109

## Series and Classes Contracts Data

### PUTNAM CONVERTIBLE SECURITIES FUND (Series ID: S000005511)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000015003 | Class C Shares  |  |
| C000015004 | Class A Shares  | PCONX           |
| C000015005 | Class B Shares  | PCNBX           |
| C000015007 | Class R Shares  | PCVRX           |
| C000015008 | Class Y Shares  | PCGYX           |
| C000153039 | CLASS I         |  |
| C000202780 | Class R6 Shares |  |

## Nport-Ex

------

---

| |
|:---|
| **Putnam Convertible Securities Fund** |
| **The fund's portfolio** |
| **1/31/23 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **CONVERTIBLE BONDS AND NOTES (79.2%)***<sup>(a)</sup>*** | **CONVERTIBLE BONDS AND NOTES (79.2%)***<sup>(a)</sup>*** | **CONVERTIBLE BONDS AND NOTES (79.2%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| **Aerospace and defense (0.8%)** | **Aerospace and defense (0.8%)** | **Aerospace and defense (0.8%)** |
| Axon Enterprise, Inc. 144A cv. sr. unsec. notes 0.50%, 12/15/27 | $4420000 | $4747080 |
|  |  | **4747080** |
| **Airlines (2.3%)** | **Airlines (2.3%)** | **Airlines (2.3%)** |
| JetBlue Airways Corp. cv. sr. unsec. notes 0.50%, 4/1/26 | 3560000 | 2814180 |
| Southwest Airlines Co. cv. sr. unsec. notes 1.25%, 5/1/25 | 9868000 | 11831732 |
|  |  | **14645912** |
| **Automotive (1.5%)** | **Automotive (1.5%)** | **Automotive (1.5%)** |
| Ford Motor Co. cv. sr. unsec. notes zero %, 3/15/26 | 9550000 | 9693250 |
|  |  | **9693250** |
| **Biotechnology (6.1%)** | **Biotechnology (6.1%)** | **Biotechnology (6.1%)** |
| Alnylam Pharmaceuticals, Inc. 144A cv. sr. unsec. unsub. notes 1.00%, 9/15/27 | 4323000 | 4609615 |
| Exact Sciences Corp. cv. sr. unsec. sub. notes 0.375%, 3/1/28 | 9270000 | 8273475 |
| Guardant Health, Inc. cv. sr. unsec. sub. notes zero %, 11/15/27 | 2825000 | 1883993 |
| Halozyme Therapeutics, Inc. cv. sr. unsec. notes 0.25%, 3/1/27 | 5380000 | 5037025 |
| Halozyme Therapeutics, Inc. 144A cv. sr. unsec. notes 1.00%, 8/15/28 | 1492000 | 1657053 |
| Innoviva, Inc. cv. sr. unsec. notes 2.50%, 8/15/25 | 4435000 | 4415043 |
| Insmed, Inc. cv. sr. unsec. sub. notes 0.75%, 6/1/28 | 3330000 | 2955375 |
| Ironwood Pharmaceuticals, Inc. cv. sr. unsec. notes 1.50%, 6/15/26 | 4010000 | 4216515 |
| Sarepta Therapeutics, Inc. cv. sr. unsec. notes 1.50%, 11/15/24 | 1065000 | 1930313 |
| Sarepta Therapeutics, Inc. 144A cv. sr. unsec. unsub. notes 1.25%, 9/15/27 | 3998000 | 4543727 |
|  |  | **39522134** |
| **Broadcasting (1.0%)** | **Broadcasting (1.0%)** | **Broadcasting (1.0%)** |
| Liberty Media Corp. 144A cv. sr. unsec. notes 2.25%, 8/15/27 | 6495000 | 6780780 |
|  |  | **6780780** |
| **Cable television (2.2%)** | **Cable television (2.2%)** | **Cable television (2.2%)** |
| DISH Network Corp. cv. sr. unsec. notes 3.375%, 8/15/26 | 4477000 | 2929266 |
| DISH Network Corp. cv. sr. unsec. notes zero %, 12/15/25 | 4410000 | 2908395 |
| Liberty Media Corp. cv. sr. unsec. bonds 1.375%, 10/15/23 | 3306000 | 4322595 |
| Liberty Media Corp. 144A cv. sr. unsec. unsub. bonds 2.75%, 12/1/49 | 4183000 | 3865092 |
|  |  | **14025348** |
| **Commercial and consumer services (4.8%)** | **Commercial and consumer services (4.8%)** | **Commercial and consumer services (4.8%)** |
| Block, Inc. cv. sr. unsec. notes 0.125%, 3/1/25 | 3395000 | 3445925 |
| Block, Inc. cv. sr. unsec. sub. notes 0.25%, 11/1/27 | 7316000 | 5861945 |
| Booking Holdings, Inc. cv. sr. unsec. notes 0.75%, 5/1/25 | 7215000 | 10272717 |
| Liberty TripAdvisor Holdings, Inc. 144A cv. sr. unsec. bonds 0.50%, 6/30/51 | 7135000 | 5686595 |
| Shift4 Payments, Inc. cv. sr. unsec. sub. notes zero %, 12/15/25 | 5663000 | 6045253 |
|  |  | **31312435** |
| **Computers (11.7%)** | **Computers (11.7%)** | **Computers (11.7%)** |
| 3D Systems Corp. cv. sr. unsec. notes zero %, 11/15/26 | 4472000 | 3317665 |
| Akamai Technologies, Inc. cv. sr. unsec. notes 0.375%, 9/1/27 | 7736000 | 7658640 |
| Bentley Systems, Inc. cv. sr. unsec. sub. notes 0.375%, 7/1/27 | 7489000 | 6253315 |
| Box, Inc. cv. sr. unsec. notes zero %, 1/15/26 | 3322000 | 4453141 |
| Cloudflare, Inc. cv. sr. unsec. notes zero %, 8/15/26 | 7231000 | 6010769 |
| Confluent, Inc. cv. sr. unsec. unsub. notes zero %, 1/15/27 | 1995000 | 1547322 |
| CyberArk Software, Ltd. cv. sr. unsec. notes zero %, 11/15/24 (Israel) | 5285000 | 5810329 |
| Datadog, Inc. cv. sr. unsec. notes 0.125%, 6/15/25 | 4045000 | 4429275 |
| DigitalOcean Holdings, Inc. cv. sr. unsec. notes zero %, 12/1/26 | 5271000 | 4045493 |
| Envestnet, Inc. company guaranty cv. sr. unsec. notes 0.75%, 8/15/25 | 5289000 | 4918770 |
| Lumentum Holdings, Inc. cv. sr. unsec. notes 0.50%, 12/15/26 | 6030000 | 5472225 |
| MongoDB, Inc. cv. sr. unsec. notes 0.25%, 1/15/26 | 2830000 | 3466750 |
| RingCentral, Inc. cv. sr. unsec. notes zero %, 3/1/25 | 6991000 | 6112756 |
| Splunk, Inc. cv. sr. unsec. notes 1.125%, 6/15/27 | 9535000 | 8205821 |
| Zscaler, Inc. cv. sr. unsec. notes 0.125%, 7/1/25 | 3710000 | 4053175 |
|  |  | **75755446** |
| **Consumer cyclicals (0.7%)** | **Consumer cyclicals (0.7%)** | **Consumer cyclicals (0.7%)** |
| Patrick Industries, Inc. cv. company guaranty sr. unsec. notes 1.75%, 12/1/28 | 5120000 | 4608000 |
|  |  | **4608000** |
| **Consumer finance (0.7%)** | **Consumer finance (0.7%)** | **Consumer finance (0.7%)** |
| SoFi Technologies, Inc. 144A cv. sr. unsec. notes zero %, 10/15/26 | 6314210 | 4729343 |
|  |  | **4729343** |
| **Consumer goods (0.7%)** | **Consumer goods (0.7%)** | **Consumer goods (0.7%)** |
| Beauty Health Co. (The) 144A cv. sr. unsec. sub. notes 1.25%, 10/1/26 | 5638000 | 4612589 |
|  |  | **4612589** |
| **Consumer services (7.4%)** | **Consumer services (7.4%)** | **Consumer services (7.4%)** |
| Airbnb, Inc. cv. sr. unsec. sub. notes zero %, 3/15/26 | 10637000 | 9131865 |
| Etsy, Inc. cv. sr. unsec. notes 0.25%, 6/15/28 | 9935000 | 8935539 |
| Fiverr International, Ltd. cv. sr. unsec. notes zero %, 11/1/25 (Israel) | 4733000 | 3981873 |
| IAC Financeco 2, Inc. 144A company guaranty cv. sr. unsec. notes 0.875%, 6/15/26 | 6033000 | 5784139 |
| Uber Technologies, Inc. cv. sr. unsec. notes zero %, 12/15/25 | 8506000 | 7474616 |
| Upwork, Inc. cv. sr. unsec. notes 0.25%, 8/15/26 | 5275000 | 4147733 |
| Wayfair, Inc. cv. sr. unsec. notes 0.625%, 10/1/25 | 5175000 | 3997688 |
| Zillow Group, Inc. cv. sr. unsec. notes 2.75%, 5/15/25 | 4317000 | 4422767 |
|  |  | **47876220** |
| **Electronics (2.5%)** | **Electronics (2.5%)** | **Electronics (2.5%)** |
| Impinj, Inc. cv. sr. unsec. notes 1.125%, 5/15/27 | 3915000 | 5358852 |
| ON Semiconductor Corp. cv. sr. unsec. notes zero %, 5/1/27 | 3564000 | 5344218 |
| Wolfspeed, Inc. 144A cv. sr. unsec. notes 1.875%, 12/1/29 | 5925000 | 5753898 |
|  |  | **16456968** |
| **Energy (other) (1.7%)** | **Energy (other) (1.7%)** | **Energy (other) (1.7%)** |
| Enphase Energy, Inc. cv. sr. unsec. sub. notes zero %, 3/1/28 | 4890000 | 5258149 |
| SolarEdge Technologies, Inc. cv. sr. unsec. notes zero %, 9/15/25 (Israel) | 4494000 | 6033195 |
|  |  | **11291344** |
| **Entertainment (5.6%)** | **Entertainment (5.6%)** | **Entertainment (5.6%)** |
| IMAX Corp. cv. sr. unsec. unsub. notes 0.50%, 4/1/26 (Canada) | 6951000 | 6273278 |
| Live Nation Entertainment, Inc. 144A cv. sr. unsec. notes 3.125%, 1/15/29 | 7012000 | 7520370 |
| NCL Corp., Ltd. company guaranty cv. sr. unsec. notes 5.375%, 8/1/25 | 3109000 | 3556696 |
| NCL Corp., Ltd. 144A company guaranty cv. sr. unsec. notes 2.50%, 2/15/27 | 7780000 | 6126750 |
| Royal Caribbean Cruises, Ltd. 144A cv. sr. unsec. unsub. notes 6.00%, 8/15/25 | 3270000 | 4991655 |
| Vail Resorts, Inc. cv. sr. unsec. sub. notes zero %, 1/1/26 | 8100000 | 7664625 |
|  |  | **36133374** |
| **Gaming and lottery (0.7%)** | **Gaming and lottery (0.7%)** | **Gaming and lottery (0.7%)** |
| DraftKings, Inc. cv. sr. unsec. unsub. notes zero %, 3/15/28 | 6192000 | 4210560 |
|  |  | **4210560** |
| **Health care services (1.5%)** | **Health care services (1.5%)** | **Health care services (1.5%)** |
| Brookdale Senior Living, Inc. cv. sr. unsec. unsub. notes 2.00%, 10/15/26 | 5752000 | 4180985 |
| Teladoc Health, Inc. cv. sr. unsec. sub. notes 1.25%, 6/1/27 | 6535000 | 5240417 |
|  |  | **9421402** |
| **Machinery (0.8%)** | **Machinery (0.8%)** | **Machinery (0.8%)** |
| Middleby Corp. (The) cv. sr. unsec. notes 1.00%, 9/1/25 | 3771000 | 4919270 |
|  |  | **4919270** |
| **Manufacturing (0.9%)** | **Manufacturing (0.9%)** | **Manufacturing (0.9%)** |
| John Bean Technologies Corp. cv. sr. unsec. notes 0.25%, 5/15/26 | 6442000 | 5936303 |
|  |  | **5936303** |
| **Medical technology (2.7%)** | **Medical technology (2.7%)** | **Medical technology (2.7%)** |
| China Medical Technologies, Inc. cv. sr. unsec. bonds Ser. CMT, 4.00%, 8/15/23 (China) (In default)***<sup>(NON)(F)</sup>*** | 3213000 |  |
| China Medical Technologies, Inc. 144A cv. sr. unsec. notes 6.25%, 12/15/23 (China) (In default)***<sup>(NON)(F)</sup>*** | 3544000 |  |
| CONMED Corp. 144A cv. sr. unsec. notes 2.25%, 6/15/27 | 4098000 | 3899247 |
| Insulet Corp. cv. sr. unsec. notes 0.375%, 9/1/26 | 3954000 | 5458497 |
| Lantheus Holdings, Inc. 144A cv. company guaranty sr. unsec. unsub. notes 2.625%, 12/15/27 | 6120000 | 6529428 |
| Repligen Corp. cv. sr. unsec. notes 0.375%, 7/15/24 | 790000 | 1337075 |
|  |  | **17224247** |
| **Oil and gas (3.3%)** | **Oil and gas (3.3%)** | **Oil and gas (3.3%)** |
| EQT Corp. cv. sr. unsec. notes 1.75%, 5/1/26 | 2380000 | 5339530 |
| Northern Oil and Gas, Inc. 144A cv. sr. unsec. notes 3.625%, 4/15/29 | 5610000 | 6364545 |
| Pioneer Natural Resources Co. cv. sr. unsec. notes 0.25%, 5/15/25 | 4060000 | 9551150 |
|  |  | **21255225** |
| **Pharmaceuticals (3.4%)** | **Pharmaceuticals (3.4%)** | **Pharmaceuticals (3.4%)** |
| Ascendis Pharma A/S 144A cv. sr. unsec. notes 2.25%, 4/1/28 (Denmark) | 3349000 | 3482960 |
| Dexcom, Inc. cv. sr. unsec. unsub. notes 0.25%, 11/15/25 | 10670000 | 11235510 |
| Jazz Investments I, Ltd. company guaranty cv. sr. unsec. notes 2.00%, 6/15/26 (Ireland) | 3845000 | 4513069 |
| Pacira Pharmaceuticals, Inc. cv. sr. unsec. sub. notes 0.75%, 8/1/25 | 3115000 | 2846331 |
|  |  | **22077870** |
| **Power producers (0.7%)** | **Power producers (0.7%)** | **Power producers (0.7%)** |
| NRG Energy, Inc. company guaranty cv. sr. unsec. bonds 2.75%, 6/1/48 | 4750000 | 4852125 |
|  |  | **4852125** |
| **Restaurants (1.7%)** | **Restaurants (1.7%)** | **Restaurants (1.7%)** |
| Cheesecake Factory, Inc. (The) cv. sr. unsec. sub. notes 0.375%, 6/15/26 | 6341000 | 5512707 |
| Shake Shack, Inc. cv. sr. unsec. notes zero %, 3/1/28 | 6965000 | 5178900 |
|  |  | **10691607** |
| **Retail (1.2%)** | **Retail (1.2%)** | **Retail (1.2%)** |
| Burlington Stores, Inc. cv. sr. unsec. notes 2.25%, 4/15/25 | 3289000 | 4074249 |
| National Vision Holdings, Inc. cv. sr. unsec. sub. notes 2.50%, 5/15/25 | 2595000 | 3717338 |
|  |  | **7791587** |
| **Schools (0.7%)** | **Schools (0.7%)** | **Schools (0.7%)** |
| Chegg, Inc. cv. sr. unsec. notes zero %, 9/1/26 | 5978000 | 4696317 |
|  |  | **4696317** |
| **Software (4.9%)** | **Software (4.9%)** | **Software (4.9%)** |
| Bill.com Holdings, Inc. cv. sr. unsec. notes zero %, 12/1/25 | 3130000 | 3283370 |
| Bill.com Holdings, Inc. cv. sr. unsec. unsub. notes zero %, 4/1/27 | 3905000 | 3131810 |
| Ceridian HCM Holding, Inc. cv. sr. unsec. notes 0.25%, 3/15/26 | 3961000 | 3594608 |
| Everbridge, Inc. cv. sr. unsec. notes zero %, 3/15/26 | 5451000 | 4602824 |
| HubSpot, Inc. cv. sr. unsec. notes 0.375%, 6/1/25 | 2232000 | 3085740 |
| Okta, Inc. cv. sr. unsec. notes 0.375%, 6/15/26 | 11591000 | 9829168 |
| Unity Software, Inc. cv. sr. unsec. notes zero %, 11/15/26 | 5865000 | 4521915 |
|  |  | **32049435** |
| **Technology services (6.2%)** | **Technology services (6.2%)** | **Technology services (6.2%)** |
| Palo Alto Networks, Inc. cv. sr. unsec. notes 0.375%, 6/1/25 | 9765000 | 16004835 |
| Perficient, Inc. cv. sr. unsec. notes 0.125%, 11/15/26 | 5183000 | 4195120 |
| Snap, Inc. cv. sr. unsec. notes zero %, 5/1/27 | 9431000 | 6960078 |
| Spotify USA, Inc. company guaranty cv. sr. unsec. notes zero %, 3/15/26 | 5115000 | 4265910 |
| TechTarget, Inc. cv. sr. unsec. unsub. notes zero %, 12/15/26 | 4722000 | 3749268 |
| Tyler Technologies, Inc. cv. sr. unsec. sub. notes 0.25%, 3/15/26 | 5215000 | 4951643 |
|  |  | **40126854** |
| **Telecommunications (—%)** | **Telecommunications (—%)** | **Telecommunications (—%)** |
| Powerwave Technologies, Inc. cv. unsec. sub. notes 3.875%, 10/1/27 (In default)***<sup>(NON)(F)</sup>*** | 5121000 | 512 |
|  |  | **512** |
| **Utilities and power (0.8%)** | **Utilities and power (0.8%)** | **Utilities and power (0.8%)** |
| NextEra Energy Partners LP 144A company guaranty cv. sr. unsec. notes zero %, 11/15/25 | 5015000 | 5130345 |
|  |  | **5130345** |
| **Total convertible bonds and notes (cost $546,950,300)** |  | **$512573882** |

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| | | |
|:---|:---|:---|
| **CONVERTIBLE PREFERRED STOCKS (15.8%)***<sup>(a)</sup>*** | **CONVERTIBLE PREFERRED STOCKS (15.8%)***<sup>(a)</sup>*** | **CONVERTIBLE PREFERRED STOCKS (15.8%)***<sup>(a)</sup>*** |
| | **Shares** | **Value** |
| **Banking (2.0%)** | **Banking (2.0%)** | **Banking (2.0%)** |
| Bank of America Corp. Ser. L, 7.25% cv. pfd. | 11045 | $13684755 |
|  |  | **13684755** |
| **Commercial and consumer services (0.8%)** | **Commercial and consumer services (0.8%)** | **Commercial and consumer services (0.8%)** |
| Sabre Corp. $6.50 cv. pfd.***<sup>(NON)</sup>*** | 59635 | 5470319 |
|  |  | **5470319** |
| **Electric utilities (5.2%)** | **Electric utilities (5.2%)** | **Electric utilities (5.2%)** |
| AES Corp. (The) $6.875 cv. pfd. | 79100 | 7891016 |
| American Electric Power Co., Inc. $3.06 cv. pfd.***<sup>(S)</sup>*** | 63335 | 3252886 |
| NextEra Energy, Inc. $3.46 cv. pfd.***<sup>(S)</sup>*** | 322040 | 15441818 |
| PG&E Corp. $5.50 cv. pfd. | 50645 | 7135881 |
|  |  | **33721601** |
| **Financial (1.0%)** | **Financial (1.0%)** | **Financial (1.0%)** |
| KKR & Co., Inc. $3.00 cv. pfd. | 92128 | 6204821 |
|  |  | **6204821** |
| **Machinery (0.6%)** | **Machinery (0.6%)** | **Machinery (0.6%)** |
| Chart Industries, Inc. $3.38***<sup>(NON)</sup>*** | 65375 | 3712646 |
|  |  | **3712646** |
| **Medical technology (2.8%)** | **Medical technology (2.8%)** | **Medical technology (2.8%)** |
| Boston Scientific Corp. $5.50 cv. pfd. | 75518 | 8612828 |
| Danaher Corp. 5.00% cv. pfd.***<sup>(S)</sup>*** | 6970 | 9336315 |
|  |  | **17949143** |
| **Metals (0.7%)** | **Metals (0.7%)** | **Metals (0.7%)** |
| RBC Bearings, Inc. $5.00 cv. pfd. | 38363 | 4488855 |
|  |  | **4488855** |
| **Pharmaceuticals (0.7%)** | **Pharmaceuticals (0.7%)** | **Pharmaceuticals (0.7%)** |
| Becton Dickinson and Co. $3.00 cv. pfd. | 85155 | 4275633 |
|  |  | **4275633** |
| **Telecommunications (1.4%)** | **Telecommunications (1.4%)** | **Telecommunications (1.4%)** |
| T-Mobile US, Inc. 144A 5.25% cv. pfd.***<sup>(NON)</sup>*** | 7330 | 8841006 |
|  |  | **8841006** |
| **Trucks and parts (0.6%)** | **Trucks and parts (0.6%)** | **Trucks and parts (0.6%)** |
| Aptiv PLC $5.50 cv. pfd. | 31740 | 3989401 |
|  |  | **3989401** |
| **Total convertible preferred stocks (cost $99,015,290)** |  | **$102338180** |

---

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| | | |
|:---|:---|:---|
| **COMMON STOCKS (1.2%)***<sup>(a)</sup>*** | **COMMON STOCKS (1.2%)***<sup>(a)</sup>*** | **COMMON STOCKS (1.2%)***<sup>(a)</sup>*** |
| | **Shares** | **Value** |
| Advanced Micro Devices, Inc.***<sup>(NON)</sup>*** | 22255 | $1672463 |
| Bank of America Corp. | 66460 | 2358001 |
| GT Advanced Technologies, Inc.***<sup>(F)</sup>*** | 552 |  |
| NVIDIA Corp. | 10490 | 2049431 |
| Penn Entertainment, Inc.***<sup>(NON)(S)</sup>*** | 46525 | 1649300 |
| **Total common stocks (cost $7,692,056)** |  | **$7729195** |

---

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| | | |
|:---|:---|:---|
| **CORPORATE BONDS AND NOTES (0.3%)***<sup>(a)</sup>*** | **CORPORATE BONDS AND NOTES (0.3%)***<sup>(a)</sup>*** | **CORPORATE BONDS AND NOTES (0.3%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| Cinemark USA, Inc. 144A company guaranty sr. unsec. notes 5.875%, 3/15/26 | $1895000 | $1701663 |
| **Total corporate bonds and notes (cost $1,743,058)** |  | **$1701663** |

---

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| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENTS (4.7%)***<sup>(a)</sup>*** | **SHORT-TERM INVESTMENTS (4.7%)***<sup>(a)</sup>*** | **SHORT-TERM INVESTMENTS (4.7%)***<sup>(a)</sup>*** |
| | **Shares** | **Value** |
| Putnam Cash Collateral Pool, LLC 4.60%***<sup>(AFF)</sup>*** | 13291132 | $13291132 |
| Putnam Short Term Investment Fund Class P 4.58%***<sup>(AFF)</sup>*** | 17258484 | 17258484 |
| **Total short-term investments (cost $30,549,616)** |  | **$30549616** |
| **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** |
| **Total investments (cost $685,950,320)** |  | **$654892536** |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** |
|  | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from November 1, 2022 through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from November 1, 2022 through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from November 1, 2022 through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from November 1, 2022 through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from November 1, 2022 through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from November 1, 2022 through January 31, 2023 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. |
| ***<sup>(a)</sup>*** | Percentages indicated are based on net assets of $647,490,604. | Percentages indicated are based on net assets of $647,490,604. | Percentages indicated are based on net assets of $647,490,604. | Percentages indicated are based on net assets of $647,490,604. | Percentages indicated are based on net assets of $647,490,604. | Percentages indicated are based on net assets of $647,490,604. |
| ***<sup>(NON)</sup>*** | This security is non-income-producing. | This security is non-income-producing. | This security is non-income-producing. | This security is non-income-producing. | This security is non-income-producing. | This security is non-income-producing. |
| ***<sup>(AFF)</sup>*** | Affiliated company. For investments in Putnam Cash Collateral Pool, LLC and Putnam Short Term Investment Fund , the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows: | Affiliated company. For investments in Putnam Cash Collateral Pool, LLC and Putnam Short Term Investment Fund , the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows: | Affiliated company. For investments in Putnam Cash Collateral Pool, LLC and Putnam Short Term Investment Fund , the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows: | Affiliated company. For investments in Putnam Cash Collateral Pool, LLC and Putnam Short Term Investment Fund , the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows: | Affiliated company. For investments in Putnam Cash Collateral Pool, LLC and Putnam Short Term Investment Fund , the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows: | Affiliated company. For investments in Putnam Cash Collateral Pool, LLC and Putnam Short Term Investment Fund , the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows: |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Name of affiliate** | **Fair value<br>as of<br>10/31/22** | **Purchase<br>cost** | **Sale<br>proceeds** | **Investment<br>income** | **Shares outstanding<br>and fair<br>value as of<br>1/31/23** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** |  |  |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Putnam Cash Collateral Pool, LLC\*# | $10129089 | $56978424 | $53816381 | $93844 | $13291132 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Putnam Short Term Investment Fund\*\* | 32417322 | 44271425 | 59430263 | 266058 | 17258484 |
|  | **Total Short-term investments** | **$42546411** | **$101249849** | **$113246644** | **$359902** | **$30549616** |
|  | \* The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The remaining maturities of the securities lending transactions are considered overnight and continuous. The risk of borrower default will be borne by the fund's agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. The fund receives cash collateral, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC and there were no realized or unrealized gains or losses during the period. | \* The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The remaining maturities of the securities lending transactions are considered overnight and continuous. The risk of borrower default will be borne by the fund's agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. The fund receives cash collateral, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC and there were no realized or unrealized gains or losses during the period. | \* The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The remaining maturities of the securities lending transactions are considered overnight and continuous. The risk of borrower default will be borne by the fund's agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. The fund receives cash collateral, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC and there were no realized or unrealized gains or losses during the period. | \* The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The remaining maturities of the securities lending transactions are considered overnight and continuous. The risk of borrower default will be borne by the fund's agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. The fund receives cash collateral, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC and there were no realized or unrealized gains or losses during the period. | \* The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The remaining maturities of the securities lending transactions are considered overnight and continuous. The risk of borrower default will be borne by the fund's agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. The fund receives cash collateral, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC and there were no realized or unrealized gains or losses during the period. | \* The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The remaining maturities of the securities lending transactions are considered overnight and continuous. The risk of borrower default will be borne by the fund's agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. The fund receives cash collateral, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC and there were no realized or unrealized gains or losses during the period. |
|  | # At the close of the reporting period, the fund received cash collateral of $13,291,132 for securities loaned. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. At the close of the reporting period, the value of securities loaned amounted to $13,048,348. | # At the close of the reporting period, the fund received cash collateral of $13,291,132 for securities loaned. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. At the close of the reporting period, the value of securities loaned amounted to $13,048,348. | # At the close of the reporting period, the fund received cash collateral of $13,291,132 for securities loaned. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. At the close of the reporting period, the value of securities loaned amounted to $13,048,348. | # At the close of the reporting period, the fund received cash collateral of $13,291,132 for securities loaned. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. At the close of the reporting period, the value of securities loaned amounted to $13,048,348. | # At the close of the reporting period, the fund received cash collateral of $13,291,132 for securities loaned. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. At the close of the reporting period, the value of securities loaned amounted to $13,048,348. | # At the close of the reporting period, the fund received cash collateral of $13,291,132 for securities loaned. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. At the close of the reporting period, the value of securities loaned amounted to $13,048,348. |
|  | \*\* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management. There were no realized or unrealized gains or losses during the period. | \*\* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management. There were no realized or unrealized gains or losses during the period. | \*\* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management. There were no realized or unrealized gains or losses during the period. | \*\* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management. There were no realized or unrealized gains or losses during the period. | \*\* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management. There were no realized or unrealized gains or losses during the period. | \*\* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management. There were no realized or unrealized gains or losses during the period. |
| ***<sup>(F)</sup>*** | This security is valued by Putnam Management at fair value following procedures approved by the Trustees. Securities are classified as Level 3 for ASC 820 based on the securities' valuation inputs. | This security is valued by Putnam Management at fair value following procedures approved by the Trustees. Securities are classified as Level 3 for ASC 820 based on the securities' valuation inputs. | This security is valued by Putnam Management at fair value following procedures approved by the Trustees. Securities are classified as Level 3 for ASC 820 based on the securities' valuation inputs. | This security is valued by Putnam Management at fair value following procedures approved by the Trustees. Securities are classified as Level 3 for ASC 820 based on the securities' valuation inputs. | This security is valued by Putnam Management at fair value following procedures approved by the Trustees. Securities are classified as Level 3 for ASC 820 based on the securities' valuation inputs. | This security is valued by Putnam Management at fair value following procedures approved by the Trustees. Securities are classified as Level 3 for ASC 820 based on the securities' valuation inputs. |
| ***<sup>(S)</sup>*** | This security is on loan, in part or in entirety, at the close of the reporting period. | This security is on loan, in part or in entirety, at the close of the reporting period. | This security is on loan, in part or in entirety, at the close of the reporting period. | This security is on loan, in part or in entirety, at the close of the reporting period. | This security is on loan, in part or in entirety, at the close of the reporting period. | This security is on loan, in part or in entirety, at the close of the reporting period. |
|  | Debt obligations are considered secured unless otherwise indicated. | Debt obligations are considered secured unless otherwise indicated. | Debt obligations are considered secured unless otherwise indicated. | Debt obligations are considered secured unless otherwise indicated. | Debt obligations are considered secured unless otherwise indicated. | Debt obligations are considered secured unless otherwise indicated. |
|  | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | 144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
|  | The dates shown on debt obligations are the original maturity dates. | The dates shown on debt obligations are the original maturity dates. | The dates shown on debt obligations are the original maturity dates. | The dates shown on debt obligations are the original maturity dates. | The dates shown on debt obligations are the original maturity dates. | The dates shown on debt obligations are the original maturity dates. |
|  | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. |
|  | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. | Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. |
|  | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. | Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. |
|  | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. |
|  | Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. |
|  | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. |
|  | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. |

---

------

---

| | | | |
|:---|:---|:---|:---|
| ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. |
| The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: |
|  | **Valuation inputs** | **Valuation inputs** | **Valuation inputs** |
| **Investments in securities:** | **Level 1** | **Level 2** | **Level 3** |
| **Common stocks\*:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer cyclicals | &nbsp;&nbsp;&nbsp;&nbsp;$1649300 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;2358001 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Technology | &nbsp;&nbsp;&nbsp;&nbsp;3721894 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total common stocks** | **7729195** | **—** | **—** |
| Convertible bonds and notes |  | 512573370 | 512 |
| Convertible preferred stocks | 15441818 | 86896362 |  |
| Corporate bonds and notes |  | 1701663 |  |
| Short-term investments |  | 30549616 |  |
| **Totals by level** | **$23171013** | **$631721011** | **$512** |
| \* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. | \* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. | \* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. | \* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. |
| At the start and close of the reporting period, Level 3 investments in securities represented less than 1% of the fund's net assets and were not considered a significant portion of the fund's portfolio. | At the start and close of the reporting period, Level 3 investments in securities represented less than 1% of the fund's net assets and were not considered a significant portion of the fund's portfolio. | At the start and close of the reporting period, Level 3 investments in securities represented less than 1% of the fund's net assets and were not considered a significant portion of the fund's portfolio. | At the start and close of the reporting period, Level 3 investments in securities represented less than 1% of the fund's net assets and were not considered a significant portion of the fund's portfolio. |
| For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Putnam Convertible Securities Fund

- **b. Investment Company Act file number:** 811-02280

- **c. CIK number of Registrant:** 0000081247

- **d. LEI of Registrant:** MFUGQW3FOQNH8167YS65

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 FEDERAL STREET

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

  - **Telephone number:** 1-800-225-1581

**Item A.2. Information about the Series.**

- **a. Name of Series:** Putnam Convertible Securities Fund

- **b. EDGAR series identifier (if any):** S000005511

- **c. LEI of Series:** MFUGQW3FOQNH8167YS65

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $662207424.65

**Total Liabilities:** $14474914.54

**Net Assets:** $647732510.10

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.61 | **1-Year:** 611.04 | **5-Year:** 815.22 | **10-Year:** 15.36 | **30-Year:** 39.62

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 13.07 | **1-Year:** 1972.73 | **5-Year:** 3591.43 | **10-Year:** 186.5 | **30-Year:** 45.9

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000153039 | 4.28%                | -2.73%               | 2.36%                |
| Class ID C000015007 | 4.27%                | -2.77%               | 2.29%                |
| Class ID C000015005 | 4.16%                | -2.79%               | 2.27%                |
| Class ID C000015003 | 4.20%                | -2.81%               | 2.23%                |
| Class ID C000015004 | 4.28%                | -2.78%               | 2.32%                |
| Class ID C000015008 | 4.29%                | -2.72%               | 2.32%                |
| Class ID C000202780 | 4.28%                | -2.70%               | 2.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-996287.30              | $27535147.97                               |
| Month 2  | $1026955.13              | $-19758667.14                              |
| Month 3  | $-5498066.87             | $19776627.06                               |

### Schedule of Portfolio Investments

| Name                                   | Title               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GT ADVANCED TECHNOLOGIES INC           | COMMON STOCK        | CUSIP: 361ESC023<br>LEI: CC3ZPVRUVFT7LNKH2Y90 | Long             | EC               | CORP              | US        |       552 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BANK OF AMERICA CORP                   | COMMON STOCK        | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     66460 | NS      | $2358000.80   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PENN ENTERTAINMENT INC                 | COMMON STOCK        | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46525 | NS      | $1649311.25   | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| NVIDIA CORP                            | COMMON STOCK        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     10490 | NS      | $2049431.30   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES INC             | COMMON STOCK        | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     22255 | NS      | $1672463.25   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SAREPTA THERAPEUTICS INC               | CONV. NOTE          | CUSIP: 803607AC4<br>LEI: 549300IKDPIED8J8IG21 | Long             | DBT              | CORP              | US        |   3998000 | PA      | $4543727.00   | 0.70%             | 2027-09-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL AND GAS INC               | CONV. NOTE          | CUSIP: 665531AH2<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   5100000 | PA      | $5785950.00   | 0.89%             | 2029-04-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| WOLFSPEED INC                          | CONV. NOTE          | CUSIP: 977852AC6<br>LEI: 549300OGU88P3AW3TO93 | Long             | DBT              | CORP              | US        |   7625000 | PA      | $7404805.56   | 1.14%             | 2029-12-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| LANTHEUS HOLDINGS INC                  | CONV. NOTE          | CUSIP: 516544AA1<br>LEI: 5299005HUB5IOJGO7S39 | Long             | DBT              | CORP              | US        |   5240000 | PA      | $5590556.00   | 0.86%             | 2027-12-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                    | CONV. NOTE          | CUSIP: 05464CAA9<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |   4420000 | PA      | $4747080.00   | 0.73%             | 2027-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMENT INC          | CONV. NOTE          | CUSIP: 538034AZ2<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   7012000 | PA      | $7520370.00   | 1.16%             | 2029-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CHINA MEDICAL TECHNOLOGIES INC         | CONV. NOTE          | CUSIP: 169483AE4<br>LEI: N/A                  | Long             | DBT              | CORP              | CN        |   3544000 | PA      | $0.00         | 0.00%             | 2023-12-15      | Fixed         | 6.25%                 | No            |                  3 | On Loan: No      |
| LIBERTY MEDIA CORP                     | CONV. NOTE          | CUSIP: 531229AB8<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | DBT              | CORP              | US        |   3306000 | PA      | $4322595.00   | 0.67%             | 2023-10-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| INNOVIVA INC                           | CONV. NOTE          | CUSIP: 45781MAB7<br>LEI: 549300ACOX4QTBES6535 | Long             | DBT              | CORP              | US        |   4435000 | PA      | $4415042.50   | 0.68%             | 2025-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SAREPTA THERAPEUTICS INC               | CONV. NOTE          | CUSIP: 803607AB6<br>LEI: 549300IKDPIED8J8IG21 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1930312.50   | 0.30%             | 2024-11-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP FINANCECO 2 INC            | CONV. NOTE          | CUSIP: 44932FAA5<br>LEI: 549300IPGK4BWL134U96 | Long             | DBT              | CORP              | US        |   6033000 | PA      | $5784138.75   | 0.89%             | 2026-06-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| REPLIGEN CORP                          | CONV. NOTE          | CUSIP: 759916AB5<br>LEI: 54930006QJ0T5AUO1E71 | Long             | DBT              | CORP              | US        |    790000 | PA      | $1337075.00   | 0.21%             | 2024-07-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| IRONWOOD PHARMACEUTICALS INC           | CONV. NOTE          | CUSIP: 46333XAH1<br>LEI: 549300PC8MR6QHH6P296 | Long             | DBT              | CORP              | US        |   4010000 | PA      | $4216515.00   | 0.65%             | 2026-06-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| AKAMAI TECHNOLOGIES INC                | CONV. NOTE          | CUSIP: 00971TAL5<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | DBT              | CORP              | US        |   7736000 | PA      | $7658640.00   | 1.18%             | 2027-09-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| INSULET CORP                           | CONV. NOTE          | CUSIP: 45784PAK7<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |   3954000 | PA      | $5458497.00   | 0.84%             | 2026-09-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| LUMENTUM HOLDINGS INC                  | CONV. NOTE          | CUSIP: 55024UAD1<br>LEI: 549300JLWRRC38DWEF52 | Long             | DBT              | CORP              | US        |   6030000 | PA      | $5472225.00   | 0.84%             | 2026-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| MONGODB INC                            | CONV. NOTE          | CUSIP: 60937PAD8<br>LEI: 549300TPTG69WKWE1Z37 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $4618250.00   | 0.71%             | 2026-01-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| EXACT SCIENCES CORP                    | CONV. NOTE          | CUSIP: 30063PAC9<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | DBT              | CORP              | US        |   9270000 | PA      | $8273475.00   | 1.28%             | 2028-03-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                              | CONV. NOTE          | CUSIP: 852234AF0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   3395000 | PA      | $3445925.00   | 0.53%             | 2025-03-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| BOOKING HOLDINGS INC                   | CONV. NOTE          | CUSIP: 09857LAN8<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | DBT              | CORP              | US        |   7215000 | PA      | $10272717.00  | 1.59%             | 2025-05-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| BURLINGTON STORES INC                  | CONV. NOTE          | CUSIP: 122017AB2<br>LEI: 5299003Z37DVGKKC1W09 | Long             | DBT              | CORP              | US        |   3289000 | PA      | $4074248.75   | 0.63%             | 2025-04-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO                  | CONV. NOTE          | CUSIP: 844741BG2<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |   9868000 | PA      | $11831732.00  | 1.83%             | 2025-05-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| EQT CORP                               | CONV. NOTE          | CUSIP: 26884LAK5<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   2380000 | PA      | $5339530.00   | 0.82%             | 2026-05-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL VISION HOLDINGS INC           | CONV. NOTE          | CUSIP: 63845RAB3<br>LEI: 549300JHURCBLI5ROA42 | Long             | DBT              | CORP              | US        |   2595000 | PA      | $3717337.50   | 0.57%             | 2025-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DEXCOM INC                             | CONV. NOTE          | CUSIP: 252131AK3<br>LEI: 549300YSK3QDSFR5EU59 | Long             | DBT              | CORP              | US        |  10670000 | PA      | $11235510.00  | 1.73%             | 2025-11-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| ZILLOW GROUP INC                       | CONV. NOTE          | CUSIP: 98954MAH4<br>LEI: 2549002XEELQDIR6FU05 | Long             | DBT              | CORP              | US        |   4317000 | PA      | $4422766.50   | 0.68%             | 2025-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TELADOC HEALTH INC                     | CONV. NOTE          | CUSIP: 87918AAF2<br>LEI: 549300I2PVFBC9MFAC61 | Long             | DBT              | CORP              | US        |   6535000 | PA      | $5240416.50   | 0.81%             | 2027-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCES CO           | CONV. NOTE          | CUSIP: 723787AP2<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |   4265000 | PA      | $10033412.50  | 1.55%             | 2025-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| HUBSPOT INC                            | CONV. NOTE          | CUSIP: 443573AD2<br>LEI: 529900BLNVEW0MVKJB37 | Long             | DBT              | CORP              | US        |   2232000 | PA      | $3085740.00   | 0.48%             | 2025-06-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| SPLUNK INC                             | CONV. NOTE          | CUSIP: 848637AF1<br>LEI: 549300XGDSGBP6UEI867 | Long             | DBT              | CORP              | US        |   9535000 | PA      | $8205821.00   | 1.27%             | 2027-06-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| PALO ALTO NETWORKS INC                 | CONV. NOTE          | CUSIP: 697435AF2<br>LEI: 549300QXR2YVZV231H43 | Long             | DBT              | CORP              | US        |   9765000 | PA      | $16004835.00  | 2.47%             | 2025-06-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| OKTA INC                               | CONV. NOTE          | CUSIP: 679295AF2<br>LEI: 549300N8J06I8MRHU620 | Long             | DBT              | CORP              | US        |  11591000 | PA      | $9829168.00   | 1.52%             | 2026-06-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| DATADOG INC                            | CONV. NOTE          | CUSIP: 23804LAB9<br>LEI: 549300F6JNO0KRPO1K63 | Long             | DBT              | CORP              | US        |   4045000 | PA      | $4429275.00   | 0.68%             | 2025-06-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| JAZZ INVESTMENTS I LTD                 | CONV. NOTE          | CUSIP: 472145AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3845000 | PA      | $4513068.75   | 0.70%             | 2026-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ZSCALER INC                            | CONV. NOTE          | CUSIP: 98980GAB8<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | DBT              | CORP              | US        |   3710000 | PA      | $4053175.00   | 0.63%             | 2025-07-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| PACIRA BIOSCIENCES INC                 | CONV. NOTE          | CUSIP: 695127AF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3115000 | PA      | $2846331.25   | 0.44%             | 2025-08-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| NCL CORP LTD                           | CONV. NOTE          | CUSIP: 62886HAX9<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | US        |   3109000 | PA      | $3556696.00   | 0.55%             | 2025-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WAYFAIR INC                            | CONV. NOTE          | CUSIP: 94419LAM3<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |   5175000 | PA      | $3997687.50   | 0.62%             | 2025-10-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| ENVESTNET INC                          | CONV. NOTE          | CUSIP: 29404KAE6<br>LEI: 549300HLWZ5OKIDM8737 | Long             | DBT              | CORP              | US        |   5289000 | PA      | $4918770.00   | 0.76%             | 2025-08-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| MIDDLEBY CORP/THE                      | CONV. NOTE          | CUSIP: 596278AB7<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | DBT              | CORP              | US        |   3771000 | PA      | $4919269.50   | 0.76%             | 2025-09-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                              | CONV. NOTE          | CUSIP: 852234AK9<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   7316000 | PA      | $5861945.00   | 0.90%             | 2027-11-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| HALOZYME THERAPEUTICS INC              | CONV. NOTE          | CUSIP: 40637HAD1<br>LEI: 529900242I3SV9AGM753 | Long             | DBT              | CORP              | US        |   5380000 | PA      | $5037025.00   | 0.78%             | 2027-03-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| CERIDIAN HCM HOLDING INC               | CONV. NOTE          | CUSIP: 15677JAD0<br>LEI: 549300T64GVCHFJ8L449 | Long             | DBT              | CORP              | US        |   3961000 | PA      | $3594607.50   | 0.55%             | 2026-03-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| IMAX CORP                              | CONV. NOTE          | CUSIP: 45245EAJ8<br>LEI: 5493002KS2T1Q0X7VZ21 | Long             | DBT              | CORP              | CA        |   6951000 | PA      | $6273277.50   | 0.97%             | 2026-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS CORP                   | CONV. NOTE          | CUSIP: 477143AP6<br>LEI: 54930070J9H97ZO93T57 | Long             | DBT              | CORP              | US        |   3560000 | PA      | $2814180.00   | 0.43%             | 2026-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| TYLER TECHNOLOGIES INC                 | CONV. NOTE          | CUSIP: 902252AB1<br>LEI: 25490040SMU4Z8LBCW70 | Long             | DBT              | CORP              | US        |   5215000 | PA      | $4951642.50   | 0.76%             | 2026-03-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| INSMED INC                             | CONV. NOTE          | CUSIP: 457669AB5<br>LEI: 529900Q55QAG41CCAC11 | Long             | DBT              | CORP              | US        |   3330000 | PA      | $2955375.00   | 0.46%             | 2028-06-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| JOHN BEAN TECHNOLOGIES CORP            | CONV. NOTE          | CUSIP: 477839AB0<br>LEI: 5493007CT6ATBZ2L6826 | Long             | DBT              | CORP              | US        |   6442000 | PA      | $5936303.00   | 0.92%             | 2026-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| ETSY INC                               | CONV. NOTE          | CUSIP: 29786AAN6<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |   9935000 | PA      | $8935539.00   | 1.38%             | 2028-06-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| CHEESECAKE FACTORY INC/THE             | CONV. NOTE          | CUSIP: 163072AA9<br>LEI: 529900872XMLK10SY247 | Long             | DBT              | CORP              | US        |   7286000 | PA      | $6334266.25   | 0.98%             | 2026-06-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| BENTLEY SYSTEMS INC                    | CONV. NOTE          | CUSIP: 08265TAD1<br>LEI: 549300WVEHPGE0Z56F71 | Long             | DBT              | CORP              | US        |   7489000 | PA      | $6253315.00   | 0.97%             | 2027-07-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| UPWORK INC                             | CONV. NOTE          | CUSIP: 91688FAB0<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | DBT              | CORP              | US        |   5275000 | PA      | $4147732.50   | 0.64%             | 2026-08-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| BEAUTY HEALTH CO/THE                   | CONV. NOTE          | CUSIP: 88331LAA6<br>LEI: 5493001Z2JZQT4C63C50 | Long             | DBT              | CORP              | US        |   5638000 | PA      | $4612588.75   | 0.71%             | 2026-10-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BROOKDALE SENIOR LIVING INC            | CONV. NOTE          | CUSIP: 112463AC8<br>LEI: LH7MQB13NWY7CJ9VC445 | Long             | DBT              | CORP              | US        |   5752000 | PA      | $4180985.00   | 0.65%             | 2026-10-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| IMPINJ INC                             | CONV. NOTE          | CUSIP: 453204AD1<br>LEI: 549300M26VGKSMMWWN17 | Long             | DBT              | CORP              | US        |   3915000 | PA      | $5358852.00   | 0.83%             | 2027-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| PERFICIENT INC                         | CONV. NOTE          | CUSIP: 71375UAF8<br>LEI: 549300HTBXKL2755T650 | Long             | DBT              | CORP              | US        |   5183000 | PA      | $4195120.20   | 0.65%             | 2026-11-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                 | CONV. NOTE          | CUSIP: 703343AG8<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   5120000 | PA      | $4608000.00   | 0.71%             | 2028-12-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| NCL CORP LTD                           | CONV. NOTE          | CUSIP: 62886HBK6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | US        |   7780000 | PA      | $6126750.00   | 0.95%             | 2027-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ASCENDIS PHARMA A/S                    | CONV. NOTE          | CUSIP: 04351PAC5<br>LEI: 549300B66JN3W3J8GH73 | Long             | DBT              | CORP              | DK        |   3349000 | PA      | $3482960.00   | 0.54%             | 2028-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| CONMED CORP                            | CONV. NOTE          | CUSIP: 207410AG6<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | DBT              | CORP              | US        |   4098000 | PA      | $3899247.00   | 0.60%             | 2027-06-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| LIBERTY MEDIA CORP-LIBERTY FORMULA ONE | CONV. NOTE          | CUSIP: 531229AL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6495000 | PA      | $6780780.00   | 1.05%             | 2027-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| HALOZYME THERAPEUTICS INC              | CONV. NOTE          | CUSIP: 40637HAE9<br>LEI: 529900242I3SV9AGM753 | Long             | DBT              | CORP              | US        |   1492000 | PA      | $1657052.50   | 0.26%             | 2028-08-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD            | CONV. NOTE          | CUSIP: 780153BP6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | US        |   3270000 | PA      | $4991655.00   | 0.77%             | 2025-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS INC            | CONV. NOTE          | CUSIP: 02043QAA5<br>LEI: 529900S3ZI14OWRJII50 | Long             | DBT              | CORP              | US        |   4323000 | PA      | $4609614.90   | 0.71%             | 2027-09-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| CHINA MEDICAL TECHNOLOGIES INC         | CONVERTIBLE BONDS   | CUSIP: 169483AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | CN        |   3213000 | PA      | $0.00         | 0.00%             | 2023-08-15      | Fixed         | 4.00%                 | No            |                  3 | On Loan: No      |
| POWERWAVE TECHNOLOGIES INC             | CONVERTIBLE BONDS   | CUSIP: 739363AF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5121000 | PA      | $512.10       | 0.00%             | 2027-10-01      | Fixed         | 3.88%                 | No            |                  3 | On Loan: No      |
| LIBERTY TRIPADVISOR HOLDINGS INC       | CONVERTIBLE BONDS   | CUSIP: 531465AA0<br>LEI: 5299006PCRAU736ZJ155 | Long             | DBT              | CORP              | US        |   7135000 | PA      | $5686595.00   | 0.88%             | 2051-06-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                         | CONVERTIBLE BONDS   | CUSIP: 629377CG5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   4750000 | PA      | $4852125.00   | 0.75%             | 2048-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| LIBERTY MEDIA CORP                     | CONVERTIBLE BONDS   | CUSIP: 531229AJ1<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | DBT              | CORP              | US        |   4893000 | PA      | $4521132.00   | 0.70%             | 2049-12-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                      | CONVERTIBLE BONDS   | CUSIP: 25470MAB5<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   4477000 | PA      | $2929266.05   | 0.45%             | 2026-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                   | CONVERTIBLE PREF    | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     11045 | NS      | $13684755.00  | 2.11%             |  |  |  | No            |                  2 | On Loan: No      |
| DANAHER CORP                           | CONVERTIBLE PREF    | CUSIP: 235851409<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EP               | CORP              | US        |      7960 | NS      | $10662420.00  | 1.65%             |  |  |  | No            |                  2 | On Loan: —       |
| BECTON DICKINSON  AND  CO              | CONVERTIBLE PREF    | CUSIP: 075887406<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EP               | CORP              | US        |     85155 | NS      | $4275632.55   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| BOSTON SCIENTIFIC CORP                 | CONVERTIBLE PREF    | CUSIP: 101137206<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EP               | CORP              | US        |     75518 | NS      | $8612827.90   | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| T-MOBILE US INC                        | CONVERTIBLE PREF    | CUSIP: 901375105<br>LEI: 549300QHIJYOHPACPG31 | Long             | EP               | CORP              | US        |      7330 | NS      | $8841006.20   | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| PG AND E CORP                          | CONVERTIBLE PREF    | CUSIP: 69331C140<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EP               | CORP              | US        |     50645 | NS      | $7135880.50   | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| KKR  AND  CO INC                       | CONVERTIBLE PREF    | CUSIP: 48251W401<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |     92128 | NS      | $6204820.80   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER CO INC         | CONVERTIBLE PREF    | CUSIP: 02557T307<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EP               | CORP              | US        |     63335 | NS      | $3252885.60   | 0.50%             |  |  |  | No            |                  2 | On Loan: —       |
| SABRE CORP                             | CONVERTIBLE PREF    | CUSIP: 78573M203<br>LEI: 529900VKCYZW8GZ4WW58 | Long             | EP               | CORP              | US        |     59635 | NS      | $5470318.55   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| APTIV PLC                              | CONVERTIBLE PREF    | CUSIP: G6095L117<br>LEI: N/A                  | Long             | EP               | CORP              | IE        |     31740 | NS      | $3989400.60   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| AES CORP/THE                           | CONVERTIBLE PREF    | CUSIP: 00130H204<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EP               | CORP              | US        |     79100 | NS      | $7891016.00   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC BEARINGS INC                       | CONVERTIBLE PREF    | CUSIP: 75524B203<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     38363 | NS      | $4488854.63   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY INC                     | CONVERTIBLE PREF    | CUSIP: 65339F713<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    322040 | NS      | $15441818.00  | 2.38%             |  |  |  | No            |                  1 | On Loan: —       |
| CHART INDUSTRIES INC                   | CONVERTIBLE PREF    | CUSIP: 16115Q407<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EP               | CORP              | US        |     65375 | NS      | $3712646.25   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| SHAKE SHACK INC                        | CONVERTIBLE ZERO    | CUSIP: 819047AB7<br>LEI: 529900J74GJAHYP80N79 | Long             | DBT              | CORP              | US        |   8025000 | PA      | $5967074.14   | 0.92%             | 2028-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TECHTARGET INC                         | CONVERTIBLE ZERO    | CUSIP: 87874RAD2<br>LEI: 529900YQA5JL2H2VMB84 | Long             | DBT              | CORP              | US        |   4722000 | PA      | $3749268.00   | 0.58%             | 2026-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CONFLUENT INC                          | CONVERTIBLE ZERO    | CUSIP: 20717MAB9<br>LEI: 254900MRZ83YWUV7SN74 | Long             | DBT              | CORP              | US        |   1995000 | PA      | $1547322.00   | 0.24%             | 2027-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CYBERARK SOFTWARE LTD                  | CONVERTIBLE ZERO    | CUSIP: 23248VAB1<br>LEI: 529900YEXNDM894PWS93 | Long             | DBT              | CORP              | IL        |   5285000 | PA      | $5810329.00   | 0.90%             | 2024-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| RINGCENTRAL INC                        | CONVERTIBLE ZERO    | CUSIP: 76680RAF4<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |   6991000 | PA      | $6112755.63   | 0.94%             | 2025-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CHEGG INC                              | CONVERTIBLE ZERO    | CUSIP: 163092AF6<br>LEI: 549300AKX7O8JG0O3G77 | Long             | DBT              | CORP              | US        |   5978000 | PA      | $4696316.80   | 0.73%             | 2026-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SOLAREDGE TECHNOLOGIES INC             | CONVERTIBLE ZERO    | CUSIP: 83417MAD6<br>LEI: 5493000K6Y58XXPDF853 | Long             | DBT              | CORP              | IL        |   4494000 | PA      | $6033195.00   | 0.93%             | 2025-09-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FIVERR INTERNATIONAL LTD               | CONVERTIBLE ZERO    | CUSIP: 33835LAA3<br>LEI: 549300Z8OREY6THCPF67 | Long             | DBT              | CORP              | IL        |   4733000 | PA      | $3981872.90   | 0.61%             | 2025-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BILL HOLDINGS INC                      | CONVERTIBLE ZERO    | CUSIP: 090043AB6<br>LEI: 549300IBF9VZZIGOZW63 | Long             | DBT              | CORP              | US        |   3130000 | PA      | $3283370.00   | 0.51%             | 2025-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GUARDANT HEALTH INC                    | CONVERTIBLE ZERO    | CUSIP: 40131MAB5<br>LEI: 254900M8C3E5VC8BR186 | Long             | DBT              | CORP              | US        |   2825000 | PA      | $1883992.50   | 0.29%             | 2027-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS INC                    | CONVERTIBLE ZERO    | CUSIP: 82452JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5663000 | PA      | $6045252.50   | 0.93%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                  | CONVERTIBLE ZERO    | CUSIP: 90353TAJ9<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   8506000 | PA      | $7474616.45   | 1.15%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                       | CONVERTIBLE ZERO    | CUSIP: 91879QAN9<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   8100000 | PA      | $7664625.00   | 1.18%             | 2026-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY PARTNERS LP             | CONVERTIBLE ZERO    | CUSIP: 65341BAD8<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |   5015000 | PA      | $5130345.00   | 0.79%             | 2025-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                      | CONVERTIBLE ZERO    | CUSIP: 25470MAF6<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   4410000 | PA      | $2908395.00   | 0.45%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BOX INC                                | CONVERTIBLE ZERO    | CUSIP: 10316TAB0<br>LEI: 549300KQUCPD8687YS68 | Long             | DBT              | CORP              | US        |   3322000 | PA      | $4453141.00   | 0.69%             | 2026-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ENPHASE ENERGY INC                     | CONVERTIBLE ZERO    | CUSIP: 29355AAK3<br>LEI: 5493008U7KIGMI59Z314 | Long             | DBT              | CORP              | US        |   4890000 | PA      | $5258148.59   | 0.81%             | 2028-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SPOTIFY USA INC                        | CONVERTIBLE ZERO    | CUSIP: 84921RAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5115000 | PA      | $4265910.00   | 0.66%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AIRBNB INC                             | CONVERTIBLE ZERO    | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |  10637000 | PA      | $9131864.50   | 1.41%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERBRIDGE INC                         | CONVERTIBLE ZERO    | CUSIP: 29978AAE4<br>LEI: 549300WCY0UMR64ATW81 | Long             | DBT              | CORP              | US        |   5451000 | PA      | $4602824.40   | 0.71%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DRAFTKINGS HOLDINGS INC                | CONVERTIBLE ZERO    | CUSIP: 26142RAB0<br>LEI: 5493008P45UYYL683Z97 | Long             | DBT              | CORP              | US        |   6192000 | PA      | $4210560.00   | 0.65%             | 2028-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CO                          | CONVERTIBLE ZERO    | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   9550000 | PA      | $9693250.00   | 1.50%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SNAP INC                               | CONVERTIBLE ZERO    | CUSIP: 83304AAF3<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |   9431000 | PA      | $6960078.00   | 1.07%             | 2027-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                  | CONVERTIBLE ZERO    | CUSIP: 682189AS4<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |   3564000 | PA      | $5344218.00   | 0.83%             | 2027-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CLOUDFLARE INC                         | CONVERTIBLE ZERO    | CUSIP: 18915MAC1<br>LEI: 5493007DY18BGNLDWU14 | Long             | DBT              | CORP              | US        |   7231000 | PA      | $6010768.75   | 0.93%             | 2026-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BILL HOLDINGS INC                      | CONVERTIBLE ZERO    | CUSIP: 090043AD2<br>LEI: 549300IBF9VZZIGOZW63 | Long             | DBT              | CORP              | US        |   3905000 | PA      | $3131810.00   | 0.48%             | 2027-04-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SOFI TECHNOLOGIES INC                  | CONVERTIBLE ZERO    | CUSIP: 83406FAA0<br>LEI: 549300SW81JCMVZDDY09 | Long             | DBT              | CORP              | US        |   6314210 | PA      | $4729343.29   | 0.73%             | 2026-10-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| 3D SYSTEMS CORP                        | CONVERTIBLE ZERO    | CUSIP: 88554DAD8<br>LEI: 5493003HHDOCCW4OP744 | Long             | DBT              | CORP              | US        |   4472000 | PA      | $3317665.00   | 0.51%             | 2026-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DIGITALOCEAN HOLDINGS INC              | CONVERTIBLE ZERO    | CUSIP: 25402DAB8<br>LEI: 549300EPISPY3RE3DL21 | Long             | DBT              | CORP              | US        |   5271000 | PA      | $4045492.50   | 0.62%             | 2026-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITY SOFTWARE INC                     | CONVERTIBLE ZERO    | CUSIP: 91332UAB7<br>LEI: 549300D1ESJMGNQNG432 | Long             | DBT              | CORP              | US        |   5865000 | PA      | $4521915.00   | 0.70%             | 2026-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                       | CORP. NOTE          | CUSIP: 172441BD8<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |   1895000 | PA      | $1701662.63   | 0.26%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PUTNAM SHORT TERM INVESTMENT FUND      | SHORT TERM INV FUND | CUSIP: 74676P664<br>LEI: 5493003MK0Q7JP8CPP42 | Long             | STIV             | PF                | US        |  17258484 | NS      | $17258484.00  | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| PUTNAM CASH COLLATERAL POOL LLC        | SHORT TERM INV FUND | CUSIP: N/A<br>LEI: 5493005HRIV7IFMKD774       | Long             | STIV             | PF                | US        |  13291132 | NS      | $13291132.00  | 2.05%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-29

**Name of Applicant:** Putnam Investments Inc

**Signature:** Janet C. Smith

**Name of Signer:** NPORT

**Title:** Principal Financial Officer