# EDGAR Filing Document

**Accession Number:** 0001005942
**File Stem:** 0001752724-25-185804
**Filing Date:** 2025-8
**Character Count:** 133143
**Document Hash:** 50cc738a97f14dd6221d06652d5989b2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-185804.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0001752724-25-185804

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**EFFECTIVENESS DATE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001005942

**ORGANIZATION NAME:**
- **EIN:** 043299786
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07513
- **FILM NUMBER:** 251200648

**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

## Series and Classes Contracts Data

### Putnam Dynamic Asset Allocation Equity Fund (Series ID: S000024760)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000073568 | Class A        |  |
| C000073569 | Class Y        |  |
| C000170451 | Class P Shares |  |

### PUTNAM MORTGAGE OPPORTUNITIES FUND (Series ID: S000048370)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000152757 | CLASS I         |  |
| C000213253 | Class Y Shares  |  |
| C000213254 | Class A Shares  |  |
| C000213255 | Class C Shares  |  |
| C000219743 | Class R6 Shares |  |

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Putnam Funds Trust and Shareholders
of Putnam Dynamic Asset Allocation Equity Fund

In planning and performing our audit of the financial statements
of Putnam Dynamic Asset Allocation Equity Fund (one of the funds
constituting Putnam Funds Trust, referred to hereafter as the "Fund")
as of and for the year ended May 31, 2025, in accordance with the
standards of the Public Company Accounting Oversight Board
(United States) (PCAOB), we considered the Fund's internal control
over financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-CEN, but not for the
purpose of expressing an opinion on the effectiveness of the Fund's
internal control over financial reporting. Accordingly, we do not
express an opinion on the effectiveness of the Fund's internal control
over financial reporting.

The management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A company's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles.
A company's internal control over financial reporting includes
those policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements
in accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made only
in accordance with authorizations of management and directors of
the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use
or disposition of a company's assets that could have a material
effect on the financial statements.

Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or
procedures may deteriorate.

A deficiency in internal control over financial reporting exists when
the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions,
to prevent or detect misstatements on a timely basis. A material
weakness is a deficiency, or a combination of deficiencies, in internal
control over financial reporting, such that there is a reasonable
possibility that a material misstatement of the company's annual or
interim financial statements will not be prevented or detected on a
timely basis.

Our consideration of the Fund's internal control over financial
reporting was for the limited purpose described in the first paragraph
and would not necessarily disclose all deficiencies in internal control
over financial reporting that might be material weaknesses under
standards established by the PCAOB. However, we noted no deficiencies
in the Fund's internal control over financial reporting and its
operation, including controls over safeguarding securities, that we
consider to be material weaknesses as defined above as of May 31, 2025.

This report is intended solely for the information and use of the Board
of Trustees of Putnam Funds Trust and the Securities and Exchange
Commission and is not intended to be and should not be used by anyone
other than these specified parties.

PricewaterhouseCoopers LLP
Boston, Massachusetts
July 21, 2025

```

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Putnam Funds Trust and Shareholders
of Putnam Mortgage Opportunities Fund

In planning and performing our audit of the financial statements
of Putnam Mortgage Opportunities Fund (one of the funds
constituting Putnam Funds Trust, referred to hereafter as the
"Fund") as of and for the year ended May 31, 2025, in accordance
with the standards of the Public Company Accounting Oversight Board
(United States) (PCAOB), we considered the Fund's internal control
over financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-CEN, but not for the
purpose of expressing an opinion on the effectiveness of the Fund's
internal control over financial reporting. Accordingly, we do not
express an opinion on the effectiveness of the Fund's internal
control over financial reporting.

The management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A company's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A
company's internal control over financial reporting includes
those policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly reflect
the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made
only in accordance with authorizations of management and directors
of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use
or disposition of a company's assets that could have a material
effect on the financial statements.

Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of changes
in conditions, or that the degree of compliance with the policies
or procedures may deteriorate.

A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned
functions, to prevent or detect misstatements on a timely basis.
A material weakness is a deficiency, or a combination of deficiencies,
in internal control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the company's
annual or interim financial statements will not be prevented or detected
on a timely basis.

Our consideration of the Fund's internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control over financial reporting that might be material
weaknesses under standards established by the PCAOB. However,
we noted no deficiencies in the Fund's internal control over
financial reporting and its operation, including controls over
safeguarding securities, that we consider to be material
weaknesses as defined above as of May 31, 2025.

This report is intended solely for the information and use of
the Board of Trustees of Putnam Funds Trust and the Securities
and Exchange Commission and is not intended to be and should
not be used by anyone other than these specified parties.

PricewaterhouseCoopers LLP
Boston, Massachusetts
July 23, 2025

```

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001005942

## N-CEN: Series/Class (Contract) Information

**Series ID Record:1**
- **Series ID:** S000024760

**Series ID Record:2**
- **Series ID:** S000048370

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-05-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Putnam Funds Trust

- **Item B.1.b - Investment Company Act file number:** 811-07513

- **Item B.1.c - CIK:** 0001005942

- **Item B.1.d - LEI:** 549300S9JYWEMKQCLW53

- **Item B.2.a - Street 1:** 100 FEDERAL STREET

- **Item B.2.b - City:** BOSTON

- **Item B.2.c - State:** MA

- **Item B.2.e - Zip Code:** 02110

- **Item B.2.f - Telephone:** 1-800-225-1581

- **Item B.2.g - Public Website:** www.franklintempleton.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** Franklin Advisers, Inc.

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 390 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-464-1909

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Custodian

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Investment Management Limited

- **b. Street 1:** Cannon Place

- **Street 2:** 78 Cannon Street

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** EC4N 6HL

- **g. Telephone number:** 44-20-7073-8500

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 380 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-270-6000

- **h. Briefly describe the books and records kept at this location:** Records relating to its functions as Sub-Administrator and Fund Accounting Agent

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** 2 AVENUE DE LAFAYETTE

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02111

- **g. Telephone number:** 1-617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Putnam Retail Management Limited Partnership

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Services, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Administrative manager

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Putnam Investor Services, Inc.

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** The Putnam Advisory Company, LLC

- **b. Street 1:** 100 Federal Street

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** Putnam Investment Management, LLC

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 11**

- **a. Name of person (e.g., a custodian of records):** Michael J. Higgins

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 12**

- **a. Name of person (e.g., a custodian of records):** Franklin Distributors, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Principal underwriter

**Location books Record: 13**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** 225 FRANKLIN STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Franklin Templeton Group of Funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 16

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                     | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|:---|:---|:---|
| Jane E. Trust            | Yes                     | 811-02608, 811-04528, 811-07920, 811-23408, 811-04524, 811-22546, 811-06444, 811-21343, 811-22444, 811-07121, 811-05977, 811-06506, 811-05497, 811-05740, 811-10603, 811-02742, 811-21477, 811-08709, 811-06740, 811-04345, 811-05498, 811-07237, 811-03386, 811-21128, 811-04527, 811-07626, 811-06128, 811-22334, 811-06629, 811-04254, 811-02280, 811-01403, 811-05452, 811-02675, 811-22491, 811-22294, 811-22338, 811-05802, 811-03897, 811-23643, 811-06310, 811-05346, 811-10407, 811-06110, 811-21403, 811-00058, 811-04616, 811-05635, 811-22369, 811-00653, 811-06190, 811-04518, 811-21467, 811-02351, 811-21337, 811-03630, 811-03741, 811-04052 |
| Jennifer Williams Murphy | No                      | 811-04345, 811-00058, 811-04528, 811-03741, 811-05452, 811-05635, 811-02742, 811-03630, 811-00653, 811-07121, 811-04527, 811-06190, 811-01403, 811-07237, 811-04518, 811-03897, 811-02675, 811-23643, 811-07626, 811-04616, 811-05802, 811-05498, 811-04524, 811-03386, 811-02280, 811-06128, 811-02608, 811-05346, 811-05740, 811-05977                                                                                                                                                                                                                                                                                                                     |
| Katinka Domotorffy       | No                      | 811-23643, 811-03386, 811-05802, 811-03630, 811-03741, 811-02608, 811-00653, 811-06190, 811-06128, 811-07626, 811-04527, 811-04528, 811-02742, 811-05452, 811-01403, 811-05635, 811-02675, 811-05977, 811-05740, 811-07121, 811-03897, 811-04518, 811-00058, 811-05498, 811-04524, 811-04616, 811-04345, 811-02280, 811-07237, 811-05346                                                                                                                                                                                                                                                                                                                     |
| Catharine Bond Hill      | No                      | 811-06128, 811-03741, 811-05635, 811-04518, 811-05740, 811-05346, 811-05802, 811-03386, 811-05452, 811-03897, 811-02675, 811-03630, 811-00653, 811-04528, 811-05977, 811-02742, 811-00058, 811-04527, 811-04345, 811-23643, 811-01403, 811-07237, 811-07121, 811-06190, 811-04616, 811-05498, 811-02608, 811-07626, 811-04524, 811-02280                                                                                                                                                                                                                                                                                                                     |
| Liaquat Ahamed           | No                      | 811-03630, 811-04527, 811-07626, 811-05346, 811-02675, 811-00058, 811-07121, 811-04528, 811-02742, 811-05740, 811-07237, 811-04518, 811-06128, 811-02280, 811-01403, 811-05635, 811-02608, 811-03386, 811-05802, 811-05498, 811-03741, 811-23643, 811-04345, 811-04616, 811-00653, 811-06190, 811-05977, 811-03897, 811-05452, 811-04524                                                                                                                                                                                                                                                                                                                     |
| Gregory G. McGreevey     | No                      | 811-04528, 811-04345, 811-05977, 811-04518, 811-05635, 811-07626, 811-04524, 811-03897, 811-04527, 811-05498, 811-06128, 811-02280, 811-05802, 811-05452, 811-06190, 811-23643, 811-05346, 811-07237, 811-05740, 811-00653, 811-03386, 811-07121, 811-02742, 811-04616, 811-02675, 811-01403, 811-00058, 811-02608, 811-03630, 811-03741                                                                                                                                                                                                                                                                                                                     |
| Manoj P. Singh           | No                      | 811-06190, 811-02280, 811-04518, 811-00058, 811-02742, 811-05740, 811-04527, 811-00653, 811-04528, 811-02608, 811-07626, 811-03741, 811-03630, 811-05452, 811-04616, 811-03386, 811-05802, 811-05977, 811-07121, 811-04345, 811-01403, 811-05498, 811-05346, 811-23643, 811-02675, 811-04524, 811-06128, 811-05635, 811-03897, 811-07237                                                                                                                                                                                                                                                                                                                     |
| George Putnam III        | No                      | 811-06128, 811-03741, 811-04616, 811-23643, 811-05346, 811-06190, 811-01403, 811-04528, 811-03897, 811-04527, 811-02675, 811-05452, 811-03386, 811-07237, 811-04524, 811-05740, 811-04345, 811-05977, 811-05635, 811-05802, 811-02742, 811-04518, 811-00058, 811-02608, 811-07121, 811-07626, 811-02280, 811-00653, 811-05498, 811-03630                                                                                                                                                                                                                                                                                                                     |
| Mona K. Sutphen          | No                      | 811-05740, 811-04518, 811-03897, 811-23643, 811-04345, 811-04527, 811-05635, 811-02608, 811-00058, 811-03386, 811-04524, 811-03741, 811-00653, 811-06128, 811-05452, 811-04616, 811-05977, 811-07121, 811-05346, 811-02675, 811-07237, 811-03630, 811-04528, 811-01403, 811-02742, 811-05498, 811-02280, 811-06190, 811-07626, 811-05802                                                                                                                                                                                                                                                                                                                     |
| Robert L. Reynolds       | Yes                     | 811-05635, 811-07626, 811-03630, 811-00058, 811-02675, 811-05977, 811-02280, 811-06128, 811-03897, 811-23643, 811-07237, 811-05346, 811-07121, 811-01403, 811-06190, 811-02608, 811-00653, 811-04528, 811-04345, 811-04518, 811-04527, 811-05802, 811-03741, 811-02742, 811-05498, 811-04524, 811-05452, 811-04616, 811-03386, 811-05740                                                                                                                                                                                                                                                                                                                     |
| Marie Pillai             | No                      | 811-05740, 811-04345, 811-02675, 811-03386, 811-03897, 811-05635, 811-05498, 811-00058, 811-04616, 811-02742, 811-04527, 811-23643, 811-04524, 811-02280, 811-07121, 811-07626, 811-01403, 811-03741, 811-06190, 811-04518, 811-00653, 811-03630, 811-05802, 811-07237, 811-05977, 811-04528, 811-02608, 811-06128, 811-05452, 811-05346                                                                                                                                                                                                                                                                                                                     |
| Barbara M. Baumann       | No                      | 811-04524, 811-06128, 811-01403, 811-03741, 811-04616, 811-05802, 811-05740, 811-05635, 811-02280, 811-23643, 811-07237, 811-00058, 811-03386, 811-07626, 811-04345, 811-04518, 811-04527, 811-02742, 811-03630, 811-05346, 811-05977, 811-00653, 811-02675, 811-07121, 811-06190, 811-03897, 811-02608, 811-05452, 811-05498, 811-04528                                                                                                                                                                                                                                                                                                                     |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** James F. Clark

- **b. CRD Number, if any:** N/A

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

- **d. City:** BOSTON

- **e. State, if applicable:** MA

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 02110

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-25271
  - IC-20851

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Putnam Retail Management Limited Partnership

- **ii. SEC file number:** 8-5088

- **iii. CRD number:** 000007325

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

**Principal underwriter Record: 2**

- **i. Full name:** Franklin Distributors, LLC

- **ii. SEC file number:** 8-5889

- **iii. CRD number:** 000000332

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** Yes

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PricewaterhouseCoopers LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Putnam Dynamic Asset Allocation Equity Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Putnam Dynamic Asset Allocation Equity Fund

- **b. Series identification number, if any:** S000024760

- **c. LEI:** 217HJO8KUHO2Y4P04346

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 2

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class                               | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | PUTNAM DYNAMIC ASSET ALLOCATION EQUITY FUND CLASS A | C000073568                                | N/A                          |
|                           2 | PUTNAM DYNAMIC ASSET ALLOCATION EQUITY FUND CLASS P | C000170451                                | N/A                          |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 12d1-4 (17 CFR 270.12d1-4)

- Rule 17a-6 (17 CFR 270.17a-6)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Sub-adviser Record: 2**

- **i. Full name:** The Putnam Advisory Company, LLC

- **ii. SEC file number:** 801-5097

- **iii. CRD number:** 000106631

- **iv. LEI, if any:** N/A

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 3**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. Is the sub-adviser an affiliated person?:** Yes

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. SEC file number:** 84-06331

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,770.53

**Brokers Record: 2**

- **i. Full name of broker:** Macquarie Capital (USA) Inc.

- **ii. SEC file number:** 8-47198

- **iii. CRD number:** 000036368

- **iv. LEI, if any:** 549300670K07JRB5UQ40

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $318.55

**Brokers Record: 3**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $591.24

**Brokers Record: 4**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,416.28

**Brokers Record: 5**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,549.40

**Brokers Record: 6**

- **i. Full name of broker:** CLSA Americas, LLC

- **ii. SEC file number:** 8-69166

- **iii. CRD number:** 000165533

- **iv. LEI, if any:** 213800M2DXATWY7JMS07

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $272.06

**Brokers Record: 7**

- **i. Full name of broker:** Piper Sandler & Co.

- **ii. SEC file number:** 8-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

- **v. State, if applicable:** MN

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $435.90

**Brokers Record: 8**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $203.71

**Brokers Record: 9**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,352.46

**Brokers Record: 10**

- **i. Full name of broker:** BofA Securities, Inc.

- **ii. SEC file number:** 8-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,894.59

**Aggregate Commission:** $22,208.74

**Item C.17.a. Principal transaction counterparties.**

| Name                        | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Morgan Stanley & Co. LLC    | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $592,623.01               |
| Barclays Capital, Inc.      | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $595,259.78               |
| BofA Securities, Inc.       | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $106,824,000.00           |
| J.P. Morgan Securities LLC  | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $530,753.02               |
| Wells Fargo Securities, LLC | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $394,362.68               |
| BMO Capital Markets Corp.   | 8-34344           |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $789,727.25               |
| Citadel Securities LLC      | 8-53574           |    000116797 | 12UUJYTN7D3SW8KCSG25 | FL      | US        | $885,639.29               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $110,612,365.03

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $20,975,850.07

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 2 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 3 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 4 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 6 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 8 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 10 Name of institution:** BANK OF AMERICA, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Putnam Income Fund                                                                            | 811-00653         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Templeton World Fund                                                                          | 811-02781         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Putnam Research Fund                                                                          | 811-07237         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| International Equity Series                                                                   | 811-06135         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Putnam International Value Fund                                                               | 811-07513         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 2 - Putnam Mortgage Opportunities Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Putnam Mortgage Opportunities Fund

- **b. Series identification number, if any:** S000048370

- **c. LEI:** 549300SDR1EM41OFS298

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class                    | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | PUTNAM MORTGAGE OPPORTUNITIES FUND CL Y  | C000213253                                | PMOYX                        |
|                           2 | PUTNAM MORTGAGE OPPORTUNITIES FUND CL A  | C000213254                                | PMORX                        |
|                           3 | PUTNAM MORTGAGE OPPORTUNITIES FUND CL R6 | C000219743                                | PMOLX                        |
|                           4 | PUTNAM MORTGAGE OPPORTUNITIES FUND CL C  | C000213255                                | PMOZX                        |
|                           5 | PUTNAM MORTGAGE OPPORTUNITIES FUND CL I  | C000152757                                | PMOTX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-4 (17 CFR 270.12d1-4)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 17a-6 (17 CFR 270.17a-6)

- Rule 12d1-1 (17 CFR 270.12d1-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Sub-adviser Record: 2**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. Is the sub-adviser an affiliated person?:** Yes

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. SEC file number:** 84-06331

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **Description of other identifying number:** LEI Number

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** BofA Securities, Inc.

- **ii. SEC file number:** 8-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $29.12

**Brokers Record: 2**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $94,000.73

**Brokers Record: 3**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $23,296.46

**Aggregate Commission:** $117,326.31

**Item C.17.a. Principal transaction counterparties.**

| Name                               | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Daiwa Capital Markets America Inc. | 8-12242           |    000001576 | M67H5PRC0NQKM73ZAS82 | NY      | US        | $249,121,347.66           |
| BofA Securities, Inc.              | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $5,060,794,675.83         |
| BMO Capital Markets Corp.          | 8-34344           |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $284,360,650.03           |
| Barclays Capital, Inc.             | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $3,410,438,995.20         |
| Goldman Sachs & Co. LLC            | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $7,883,602,540.84         |
| Morgan Stanley & Co. LLC           | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $8,240,676,003.97         |
| Citigroup Global Markets Inc.      | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $7,007,448,525.31         |
| Wells Fargo Securities, LLC        | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $8,751,877,283.00         |
| Mizuho Securities USA LLC          | 8-37710           |    000019647 | 7TK5RJIZDFROZCA6XF66 | NY      | US        | $3,974,962,961.49         |
| J.P. Morgan Securities LLC         | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $19,171,521,486.35        |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $64,246,809,177.27

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $573,492,807.32

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 2 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 3 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 4 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 5 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 8 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 10 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Franklin Growth Fund                                                                          | 811-00537         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Putnam Income Fund                                                                            | 811-00653         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Franklin Income Fund                                                                          | 811-00537         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Putnam International Value Fund                                                               | 811-07513         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Templeton World Fund                                                                          | 811-02781         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Putnam Research Fund                                                                          | 811-07237         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| International Equity Series                                                                   | 811-06135         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Templeton International Bond Fund                                                             | 811-04706         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Putnam Funds Trust

**Date:** 2025-05-31

**Signature:** Monica Krogh

**Title:** Assistant Treasurer