# EDGAR Filing Document

**Accession Number:** 0000822671
**File Stem:** 0000869392-23-000388
**Filing Date:** 2023-2
**Character Count:** 26316
**Document Hash:** 3027838c72c6a475f4bed8a01f6272f6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000388.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0000869392-23-000388

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0000822671
- **IRS NUMBER:** 046649095
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05346
- **FILM NUMBER:** 23666609

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

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

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

## Series and Classes Contracts Data

### Putnam VT Sustainable Leaders Fund (Series ID: S000003884)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000010863 | Class IA Shares |  |
| C000010864 | Class IB Shares |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Putnam Variable Trust

- **b. Investment Company Act file number:** 811-05346

- **c. CIK number of Registrant:** 0000822671

- **d. LEI of Registrant:** 549300TBVD21LYBGBD46

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

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

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

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

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

- **a. Name of Series:** Putnam VT Sustainable Leaders Fund

- **b. EDGAR series identifier (if any):** S000003884

- **c. LEI of Series:** B8ZS316QP9AOFBYPRB36

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $740915405.31

**Total Liabilities:** $2215733.01

**Net Assets:** $738699672.30

**Cash Not Reported:** $2964.60

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010864 | -6.28%               | 5.32%                | 7.37%                |
| Class ID C000010863 | -6.27%               | 5.33%                | 7.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8871875.18              | $-57866450.93                              |
| Month 2  | $2328312.79              | $39479870.76                               |
| Month 3  | $3607976.00              | $49341978.81                               |

**Designated Index Information**

- **Index Name:** S&P 500 Index

- **Index Identifier:** IDX00061

### Schedule of Portfolio Investments

| Name                                 | Title               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| T-MOBILE US INC                      | COMMON STOCK        | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     65800 | NS      | $9212000.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                             | COMMON STOCK        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     78300 | NS      | $16267608.00  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR GENERAL CORP                  | COMMON STOCK        | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     50600 | NS      | $12460250.00  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR  AND  CO INC                     | COMMON STOCK        | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |    184300 | NS      | $8555206.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS CO                    | COMMON STOCK        | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    216900 | NS      | $7296516.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST REPUBLIC BANK/CA               | COMMON STOCK        | CUSIP: 33616C100<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EC               | CORP              | US        |     49042 | NS      | $5977729.38   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HOLDINGS INC        | COMMON STOCK        | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |    119799 | NS      | $15137801.64  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS INC                  | COMMON STOCK        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     70200 | NS      | $4999644.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTIVE CORP                         | COMMON STOCK        | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |    219300 | NS      | $14090025.00  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| INGERSOLL RAND INC                   | COMMON STOCK        | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |    278500 | NS      | $14551625.00  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| LEVI STRAUSS  AND  CO                | COMMON STOCK        | CUSIP: 52736R102<br>LEI: MB0UERO0RDFKU8258G77 | Long             | EC               | CORP              | US        |    320070 | NS      | $4967486.40   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| OTIS WORLDWIDE CORP                  | COMMON STOCK        | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |    102500 | NS      | $8026775.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GINKGO BIOWORKS HOLDINGS INC         | COMMON STOCK        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    904307 | NS      | $1528278.83   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG INC                              | COMMON STOCK        | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |    241958 | NS      | $6733691.14   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORP            | COMMON STOCK        | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |    169300 | NS      | $14595353.00  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| COOPER COS INC/THE                   | COMMON STOCK        | CUSIP: 216648402<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     28200 | NS      | $9324894.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                           | COMMON STOCK        | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     20500 | NS      | $7979010.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP/THE              | COMMON STOCK        | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    169200 | NS      | $14087592.00  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                         | COMMON STOCK        | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     55400 | NS      | $14704268.00  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ROPER TECHNOLOGIES INC               | COMMON STOCK        | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |     35500 | NS      | $15339195.00  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                            | COMMON STOCK        | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    343888 | NS      | $44681367.84  | 6.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MCCORMICK  AND  CO INC/MD            | COMMON STOCK        | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Long             | EC               | CORP              | US        |    129900 | NS      | $10767411.00  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                 | COMMON STOCK        | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    514104 | NS      | $17027124.48  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| EASTMAN CHEMICAL CO                  | COMMON STOCK        | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |    114200 | NS      | $9300448.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| AES CORP/THE                         | COMMON STOCK        | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    321400 | NS      | $9243464.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| WALT DISNEY CO/THE                   | COMMON STOCK        | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    128000 | NS      | $11120640.00  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC               | COMMON STOCK        | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     42200 | NS      | $22373596.00  | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC                          | COMMON STOCK        | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    156500 | NS      | $22190135.00  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| STARBUCKS CORP                       | COMMON STOCK        | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |    103700 | NS      | $10287040.00  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP                  | COMMON STOCK        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     59200 | NS      | $12542112.00  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                       | COMMON STOCK        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    223000 | NS      | $53479860.00  | 7.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                       | COMMON STOCK        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    221400 | NS      | $18597600.00  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC         | COMMON STOCK        | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     24300 | NS      | $13381767.00  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC                            | COMMON STOCK        | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     40300 | NS      | $13562159.00  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORP               | COMMON STOCK        | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    366600 | NS      | $16962582.00  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK  AND  CO INC                   | COMMON STOCK        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    130200 | NS      | $14445690.00  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC                   | COMMON STOCK        | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    123200 | NS      | $10299520.00  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES INC           | COMMON STOCK        | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    108400 | NS      | $7021068.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS INC        | COMMON STOCK        | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     13300 | NS      | $9595817.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY  AND  CO                   | COMMON STOCK        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     51300 | NS      | $18767592.00  | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON PROPERTIES INC                | COMMON STOCK        | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |    119300 | NS      | $8062294.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DEERE  AND  CO                       | COMMON STOCK        | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     24600 | NS      | $10547496.00  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                            | COMMON STOCK        | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     65700 | NS      | $17255448.00  | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP                   | COMMON STOCK        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     58800 | NS      | $12175716.00  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC                | COMMON STOCK        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     96200 | NS      | $9367956.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC/THE                   | COMMON STOCK        | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     39500 | NS      | $12476470.00  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                          | COMMON STOCK        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     82400 | NS      | $12041936.00  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                       | COMMON STOCK        | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     82900 | NS      | $10991711.00  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL INC           | COMMON STOCK        | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7500 | NS      | $10406175.00  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV                      | COMMON STOCK - ADR  | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     17600 | NS      | $9616640.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC BANK USA                        | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $6328734.56   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION          | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: EN5TNI6CI43VEPAMHL14       | N/A              | DFE              | CORP              | US        |         1 | NC      | $3190611.52   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET B AND T CO              | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 571474TGEMMWANRLN572       | N/A              | DFE              | CORP              | US        |         1 | NC      | $2274859.55   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                               | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | N/A              | DFE              | CORP              | US        |         1 | NC      | $4328363.97   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA N.A.                 | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              | CORP              | US        |         1 | NC      | $2237177.96   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC WHOLESALE, LONDON  | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DFE              | CORP              | GB        |         1 | NC      | $564713.95    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET B AND T CO              | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 571474TGEMMWANRLN572       | N/A              | DFE              | CORP              | US        |         1 | NC      | $2441724.79   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                        | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $2352470.19   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA N.A.                 | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              | CORP              | US        |         1 | NC      | $4763896.20   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                        | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $4763896.20   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA N.A.                 | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              | CORP              | US        |         1 | NC      | $2435981.99   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY AND CO. INTERNATIONAL | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 4PQUHN3JPFGFNF3BB653       | N/A              | DFE              | CORP              | US        |         1 | NC      | $13895681.10  | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                  | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $7114125.79   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| HEINEKEN NV                          | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |    167391 | NS      | $15746655.73  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| KONINKLIJKE DSM NV                   | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 724500SNT1MK246AHP04       | Long             | EC               | CORP              | NL        |     54876 | NS      | $6714209.04   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| UNILEVER PLC                         | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |    167254 | NS      | $8391462.29   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                            | ORDINARY SHARES     | CUSIP: G5494J103<br>LEI: 8945002PAZHZLBGKGF02 | Long             | EC               | CORP              | GB        |     47700 | NS      | $15558786.00  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVOZYMES A/S - B SHARES             | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 529900T6WNZXD2R3JW38       | Long             | EC               | CORP              | DK        |    157249 | NS      | $7965670.97   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI                               | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |     85523 | NS      | $8224676.99   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PUTNAM SHORT TERM INVESTMENT FUND    | SHORT TERM INV FUND | CUSIP: 74676P664<br>LEI: 5493003MK0Q7JP8CPP42 | Long             | STIV             | PF                | US        |  10453100 | NS      | $10453100.00  | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA             | U.S. T BILLS        | CUSIP: 912796ZJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $99929.66     | 0.01%             | 2023-01-10      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA             | U.S. T BILLS        | CUSIP: 912796ZK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | PA      | $599141.63    | 0.08%             | 2023-01-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA             | U.S. T BILLS        | CUSIP: 912796ZL6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1600000 | PA      | $1596415.30   | 0.22%             | 2023-01-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-24

**Name of Applicant:** Putnam Investments Inc

**Signature:** Janet C. Smith

**Name of Signer:** NPORT

**Title:** Principal Financial Officer