# EDGAR Filing Document

**Accession Number:** 0001005942
**File Stem:** 0000869392-25-001169
**Filing Date:** 2025-6
**Character Count:** 62093
**Document Hash:** 87555a0a1ec392ce3e402c76e466584b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-25-001169.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0000869392-25-001169

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250618

**PERIOD START**: 20250731

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07513
- **FILM NUMBER:** 251056193

**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 Short Term Investment Fund (Series ID: S000039730)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000123084 | Class P        |  |
| C000219759 | Class G Shares |  |

## Nport-Ex

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| |
|:---|
| **Putnam Short Term Investment Fund** |
| **The fund's portfolio** |
| **4/30/25 (Unaudited)** |

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| | | |
|:---|:---|:---|
| **REPURCHASE AGREEMENTS (55.5%)***<sup>(a)</sup>*** | **REPURCHASE AGREEMENTS (55.5%)***<sup>(a)</sup>*** | **REPURCHASE AGREEMENTS (55.5%)***<sup>(a)</sup>*** |
| | **Principal amount** | **Value** |
| Interest in $100,000,000 joint tri-party repurchase agreement dated 4/30/2025 with Bank of Montreal due 5/1/2025 - maturity value of $22,002,671 for an effective yield of 4.370% (collateralized by Agency Mortgage-Backed Securities with coupon rates ranging from 3.500% to 7.000% and due dates ranging from 12/20/2049 to 4/20/2055, valued at $102,012,382) | $22000000 | $22000000 |
| Interest in $225,000,000 joint tri-party repurchase agreement dated 4/30/2025 with Barclays Capital, Inc. due 5/1/2025 - maturity value of $25,003,035 for an effective yield of 4.370% (collateralized by U.S. Treasuries (including strips) with a coupon rate of 1.375% and due dates ranging from 10/31/2028 to 12/31/2028, valued at $229,527,932) | 25000000 | 25000000 |
| Interest in $255,886,000 joint tri-party repurchase agreement dated 4/30/2025 with BofA Securities, Inc. due 5/1/2025 - maturity value of $177,544,599 for an effective yield of 4.380% (collateralized by Agency Mortgage-Backed Securities with coupon rates ranging from 2.500% to 5.500% and due dates ranging from 12/1/2039 to 2/1/2055, valued at $261,003,720) | 177523000 | 177523000 |
| Interest in $335,810,000 joint tri-party repurchase agreement dated 4/30/2025 with Citigroup Global Markets, Inc. due 5/1/2025 - maturity value of $140,900,102 for an effective yield of 4.370% (collateralized by Agency Mortgage-Backed Securities with coupon rates ranging from 2.400% to 7.768% and due dates ranging from 11/1/2053 to 3/20/2075, valued at $342,526,201) | 140883000 | 140883000 |
| Interest in $600,000,000 joint tri-party repurchase agreement dated 4/30/2025 with HSBC Securities (USA), Inc. due 5/1/2025 - maturity value of $167,896,425 for an effective yield of 4.380% (collateralized by Agency Mortgage-Backed Securities with coupon rates ranging from 2.000% to 7.500% and due dates ranging from 8/1/2026 to 3/1/2055, valued at $612,074,460) | 167876000 | 167876000 |
| Interest in $200,000,000 joint tri-party repurchase agreement dated 4/30/2025 with JPMorgan Securities, LLC due 5/1/2025 - maturity value of $122,014,843 for an effective yield of 4.380% (collateralized by Agency Mortgage-Backed Securities with coupon rates ranging from 2.000% to 5.500% and due dates ranging from 7/1/2030 to 11/1/2054, valued at $204,024,820) | 122000000 | 122000000 |
| Interest in $400,000,000 joint tri-party repurchase agreement dated 4/30/2025 with JPMorgan Securities, LLC due 5/1/2025 - maturity value of $200,024,278 for an effective yield of 4.370% (collateralized by U.S. Treasuries (including strips) with a coupon rate of 0.125% and a due date of 4/15/2026, valued at $408,049,602) | 200000000 | 200000000 |
| Interest in $50,000,000 term repurchase agreement dated 4/30/2025 with Barclays Capital, Inc. due 5/1/2025 - maturity value of $50,012,139 for an effective yield of 4.370% (collateralized by U.S. Treasuries (including strips) with a coupon rate of 3.750% and a due date of 12/31/2030, valued at $50,982,845) | 50000000 | 50000000 |
| Interest in $100,000,000 tri-party repurchase agreement dated 4/30/2025 with BNP Paribas Securities Corp. due 5/1/2025 - maturity value of $100,012,139 for an effective yield of 4.370% (collateralized by Agency Mortgage-Backed Securities with coupon rates ranging from 1.750% to 7.063% and due dates ranging from 12/1/2029 to 4/1/2055, valued at $102,012,382) | 100000000 | 100000000 |
| Interest in $118,283,000 tri-party repurchase agreement dated 4/30/2025 with Goldman, Sachs & Co. LLC due 5/1/2025 - maturity value of $118,297,391 for an effective yield of 4.380% (collateralized by Agency Mortgage-Backed Securities with coupon rates ranging from 2.000% to 7.000% and due dates ranging from 2/15/2029 to 4/1/2055, valued at $120,648,661) | 118283000 | 118283000 |
| Interest in $25,000,000 tri-party term repurchase agreement dated 5/1/2025 with BNP Paribas Securities Corp., 4.500% (collateralized by Corporate Debt Securities with coupon rates ranging from 0.875% to 6.875% and due dates ranging from 11/3/2025 to a perpetual maturity, valued at $26,253,320) (France)***<sup>(IR)(EG)</sup>*** | 25000000 | 25000000 |
| Interest in $25,000,000 tri-party term repurchase agreement dated 5/1/2025 with RBC Capital Markets, LLC, 4.550% (collateralized by Corporate Debt Securities with coupon rates ranging from 1.188% to 7.132% and due dates ranging from 10/13/2027 to a perpetual maturity, valued at $26,253,601) (Canada)***<sup>(IR)(EG)</sup>*** | 25000000 | 25000000 |
| **Total repurchase agreements (cost $1,173,565,000)** |  | **$1173565000** |

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| | | | | |
|:---|:---|:---|:---|:---|
| **COMMERCIAL PAPER (24.5%)***<sup>(a)</sup>*** | **COMMERCIAL PAPER (24.5%)***<sup>(a)</sup>*** | **COMMERCIAL PAPER (24.5%)***<sup>(a)</sup>*** | **COMMERCIAL PAPER (24.5%)***<sup>(a)</sup>*** | **COMMERCIAL PAPER (24.5%)***<sup>(a)</sup>*** |
| | **Yield (%)** | **Maturity date** | **Principal amount** | **Value** |
| ABN AMRO Funding USA, LLC | 4.353 | 9/29/25 | $22500000 | $22086340 |
| Australia and New Zealand Banking Group, Ltd. (Australia) | 4.620 | 8/21/25 | 20100000 | 20103214 |
| Australia and New Zealand Banking Group, Ltd. (Australia) | 4.560 | 2/11/26 | 10750000 | 10749774 |
| Australia and New Zealand Banking Group, Ltd. (Australia) | 4.368 | 7/10/25 | 18500000 | 18343462 |
| Banco Santander SA (Spain) | 4.570 | 6/6/25 | 19750000 | 19751260 |
| Banco Santander SA (Spain) | 4.336 | 9/24/25 | 21000000 | 20627802 |
| Bank of Montreal (Canada) | 5.500 | 6/10/25 | 20000000 | 19901030 |
| Bank of Montreal (Canada) | 4.670 | 4/13/26 | 11500000 | 11491208 |
| Barclays Bank PLC (United Kingdom) | 4.429 | 5/27/25 | 10000000 | 9966990 |
| Barclays Bank PLC (United Kingdom) | 4.418 | 5/19/25 | 10200000 | 10176414 |
| BPCE SA (France) | 4.476 | 8/6/25 | 12000000 | 11858063 |
| BPCE SA (France) | 4.319 | 9/12/25 | 11250000 | 11067540 |
| Cabot Corp. | 4.654 | 5/1/25 | 2700000 | 2699660 |
| Commonwealth Bank of Australia (Australia) | 4.670 | 9/29/25 | 18750000 | 18757442 |
| Commonwealth Bank of Australia (Australia) | 4.610 | 7/7/25 | 17250000 | 17254225 |
| DNB Bank ASA (Norway) | 5.500 | 5/28/25 | 21000000 | 20929919 |
| DNB Bank ASA (Norway) | 4.336 | 12/19/25 | 11000000 | 10704239 |
| Export Development Canada (Canada) | 4.294 | 8/5/25 | 17800000 | 17597869 |
| ING (U.S.) Funding, LLC | 4.620 | 6/5/25 | 24500000 | 24503333 |
| Lloyds Bank PLC (United Kingdom) | 4.580 | 8/7/25 | 14000000 | 14001253 |
| Mizuho Bank,Ltd./New York, NY | 4.359 | 10/3/25 | 10201000 | 10011348 |
| National Australia Bank, Ltd. (Australia) | 4.600 | 2/20/26 | 12250000 | 12250851 |
| National Australia Bank, Ltd. (Australia) | 4.600 | 8/26/25 | 20000000 | 20000914 |
| Nordea Bank ABP (Finland) | 4.540 | 9/22/25 | 11500000 | 11498523 |
| Nordea Bank ABP (Finland) | 4.295 | 10/9/25 | 11500000 | 11281023 |
| NRW.Bank (Germany) | 4.373 | 6/23/25 | 11500000 | 11426946 |
| Royal Bank of Canada (Canada) | 4.710 | 7/11/25 | 20500000 | 20508815 |
| Royal Bank of Canada (Canada) | 4.630 | 3/23/26 | 10500000 | 10491395 |
| Toronto-Dominion Bank (The) (Canada) | 4.426 | 5/23/25 | 8250000 | 8226959 |
| TotalEnergies Capital SA (France) | 4.432 | 7/16/25 | 10750000 | 10649306 |
| TotalEnergies Capital SA (France) | 4.417 | 6/27/25 | 11000000 | 10922324 |
| TotalEnergies Capital SA (France) | 4.393 | 6/2/25 | 11000000 | 10956057 |
| Toyota Credit de Puerto Rico Corp. (Puerto Rico) | 4.462 | 8/18/25 | 6500000 | 6413306 |
| Toyota Motor Credit Corp. | 4.353 | 9/3/25 | 10000000 | 9850725 |
| Westpac Banking Corp. (Australia) | 4.610 | 7/2/25 | 19750000 | 19754681 |
| Westpac Banking Corp. (Australia) | 4.580 | 3/2/26 | 20300000 | 20274292 |
| **Total commercial paper (cost $517,109,192)** |  |  |  | **$517088502** |

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| | | | | |
|:---|:---|:---|:---|:---|
| **CERTIFICATES OF DEPOSIT (16.9%)***<sup>(a)</sup>*** | **CERTIFICATES OF DEPOSIT (16.9%)***<sup>(a)</sup>*** | **CERTIFICATES OF DEPOSIT (16.9%)***<sup>(a)</sup>*** | **CERTIFICATES OF DEPOSIT (16.9%)***<sup>(a)</sup>*** | **CERTIFICATES OF DEPOSIT (16.9%)***<sup>(a)</sup>*** |
| | **Yield (%)** | **Maturity date** | **Principal amount** | **Value** |
| Bank of America, NA | 4.250 | 3/2/26 | $11000000 | $11001289 |
| Bank of America, NA FRN | 4.720 | 4/9/26 | 9000000 | 9000000 |
| Bank of America, NA FRN | 4.680 | 6/3/25 | 21750000 | 21754328 |
| Bank of America, NA FRN | 4.600 | 11/6/25 | 13750000 | 13749182 |
| Bank of Montreal/Chicago, IL FRN (Canada) | 4.710 | 8/12/25 | 12250000 | 12255397 |
| Bank of Nova Scotia/Houston FRN | 4.710 | 10/24/25 | 19000000 | 19006988 |
| Bank of Nova Scotia/Houston FRN | 4.690 | 11/6/25 | 23650000 | 23656702 |
| BNP Paribas SA/New York, NY FRN (France) | 4.630 | 6/3/25 | 7150000 | 7151182 |
| Canadian Imperial Bank of Commerce/New York, NY FRN | 4.710 | 12/12/25 | 22850000 | 22858256 |
| Canadian Imperial Bank of Commerce/New York, NY FRN | 4.660 | 2/9/26 | 7500000 | 7497939 |
| Citibank, NA FRN | 4.710 | 10/24/25 | 9750000 | 9754263 |
| Citibank, NA FRN | 4.700 | 9/22/25 | 9750000 | 9753501 |
| Citibank, NA FRN | 4.640 | 1/23/26 | 22000000 | 21988866 |
| Cooperatieve Rabobank UA/NY FRN (Netherlands) | 4.630 | 4/6/26 | 11000000 | 10989859 |
| Credit Agricole Corporate and Investment Bank/New York FRN (France) | 4.640 | 6/13/25 | 22500000 | 22505807 |
| Intesa Sanpaolo SPA/New York, NY FRN | 5.230 | 8/18/25 | 10580000 | 10597199 |
| Mizuho Bank, Ltd./New York, NY FRN | 4.560 | 5/2/25 | 19250000 | 19250154 |
| Mizuho Bank, Ltd./New York, NY FRN | 4.510 | 9/10/25 | 10500000 | 10498157 |
| MUFG Bank Ltd./New York, NY FRN (Japan) | 4.610 | 11/13/25 | 20400000 | 20395020 |
| Rabobank Nederland NV/NY (Netherlands) | 4.570 | 10/20/25 | 20000000 | 20015206 |
| Sumitomo Mitsui Banking Corp./New York FRN (Japan) | 4.580 | 12/8/25 | 20250000 | 20251742 |
| Toronto-Dominion Bank/NY FRN (Canada) | 4.740 | 8/15/25 | 22250000 | 22263791 |
| Toronto-Dominion Bank/NY FRN (Canada) | 4.620 | 8/7/25 | 10000000 | 10002824 |
| **Total certificates of deposit (cost $356,130,000)** |  |  |  | **$356197652** |

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| | | | | |
|:---|:---|:---|:---|:---|
| **ASSET-BACKED COMMERCIAL PAPER (3.4%)***<sup>(a)</sup>*** | **ASSET-BACKED COMMERCIAL PAPER (3.4%)***<sup>(a)</sup>*** | **ASSET-BACKED COMMERCIAL PAPER (3.4%)***<sup>(a)</sup>*** | **ASSET-BACKED COMMERCIAL PAPER (3.4%)***<sup>(a)</sup>*** | **ASSET-BACKED COMMERCIAL PAPER (3.4%)***<sup>(a)</sup>*** |
| | **Yield (%)** | **Maturity date** | **Principal amount** | **Value** |
| Atlantic Asset Securitization, LLC | 4.360 | 5/1/25 | $18250000 | $18247801 |
| Chariot Funding, LLC | 4.417 | 5/16/25 | 10500000 | 10479641 |
| Chariot Funding, LLC | 4.382 | 5/6/25 | 15500000 | 15488756 |
| Liberty Street Funding, LLC (Canada) | 4.459 | 7/16/25 | 8500000 | 8420072 |
| Manhattan Asset Funding Co., LLC (Japan) | 4.408 | 6/18/25 | 9250000 | 9194657 |
| Victory Receivables Corp. (Japan) | 4.417 | 5/12/25 | 9400000 | 9386302 |
| **Total asset-backed commercial paper (cost $71,225,839)** | **Total asset-backed commercial paper (cost $71,225,839)** | **Total asset-backed commercial paper (cost $71,225,839)** | **Total asset-backed commercial paper (cost $71,225,839)** | **$71217229** |
| **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** | **TOTAL INVESTMENTS** |
| **Total investments (cost $2,118,030,031)** |  |  |  | **$2118068383** |

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| | | |
|:---|:---|:---|
|  | ***Key to holding's abbreviations*** | ***Key to holding's abbreviations*** |
| FRN | Floating Rate Notes: The rate shown is the current interest rate or yield at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period. | Floating Rate Notes: The rate shown is the current interest rate or yield at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period. |
|  | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** |
|  | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from August 1, 2024 through April 30, 2025 (the reporting period). Within the following notes to the portfolio, references to "Franklin Advisers" represent Franklin Advisers, Inc., the fund's investment manager, a direct wholly-owned subsidiary of Franklin Resources, Inc., references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from August 1, 2024 through April 30, 2025 (the reporting period). Within the following notes to the portfolio, references to "Franklin Advisers" represent Franklin Advisers, Inc., the fund's investment manager, a direct wholly-owned subsidiary of Franklin Resources, Inc., references to "ASC 820" represent Accounting Standards Codification 820 *Fair Value Measurements and Disclosures* and references to "OTC", if any, represent over-the-counter. |
|  | Putnam Short Term Investment Fund (the fund) is a diversified series of Putnam Funds Trust (the Trust), a Massachusetts business trust registered under the 1940 Act as an open-end management investment company. | Putnam Short Term Investment Fund (the fund) is a diversified series of Putnam Funds Trust (the Trust), a Massachusetts business trust registered under the 1940 Act as an open-end management investment company. |
|  | The fund follows the accounting and reporting guidance in Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (ASC 946) and applies the specialized accounting and reporting guidance in U.S. Generally Accepted Accounting Principles (U.S. GAAP), including, but not limited to, ASC 946. | The fund follows the accounting and reporting guidance in Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (ASC 946) and applies the specialized accounting and reporting guidance in U.S. Generally Accepted Accounting Principles (U.S. GAAP), including, but not limited to, ASC 946. |
| ***<sup>(a)</sup>*** | Percentages indicated are based on net assets of $2,112,703,261. | Percentages indicated are based on net assets of $2,112,703,261. |
| ***<sup>(IR)</sup>*** | Repurchase agreements with a maturity of more than seven days are considered to be illiquid investments. | Repurchase agreements with a maturity of more than seven days are considered to be illiquid investments. |
| ***<sup>(EG)</sup>*** | Maturity date of the repurchase agreement is thirty-five days from the purchase date unless both parties agree to roll the transaction. Maturity value of the repurchase agreement will equal the principal amount of the repurchase agreement plus interest. | Maturity date of the repurchase agreement is thirty-five days from the purchase date unless both parties agree to roll the transaction. Maturity value of the repurchase agreement will equal the principal amount of the repurchase agreement plus interest. |
|  | The dates shown on debt obligations are the original maturity dates. | The dates shown on debt obligations are the original maturity dates. |
|  | **DIVERSIFICATION BY COUNTRY** |  |
|  | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): | Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value): |
|  | United States | 68.3% |
|  | Canada | 7.9 |
|  | Australia | 7.4 |
|  | France | 5.2 |
|  | Japan | 2.8 |
|  | Spain | 1.9 |
|  | United Kingdom | 1.6 |
|  | Norway | 1.5 |
|  | Netherlands | 1.5 |
|  | Finland | 1.1 |
|  | Germany | 0.5 |
|  | Puerto Rico | 0.3 |
|  | **Total** | **100.0%** |
|  | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees (Trustees). The Trustees have formed a Pricing Committee to oversee the implementation of these procedures. Under compliance policies and procedures approved by the Trustees, the Trustees have designated the fund's investment manager as the valuation designee and has responsibility for oversight of valuation. The investment manager is assisted by the fund's administrator in performing this responsibility, including leading the cross-functional Valuation Committee (VC). The VC is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Trustees. | **Security valuation:** Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees (Trustees). The Trustees have formed a Pricing Committee to oversee the implementation of these procedures. Under compliance policies and procedures approved by the Trustees, the Trustees have designated the fund's investment manager as the valuation designee and has responsibility for oversight of valuation. The investment manager is assisted by the fund's administrator in performing this responsibility, including leading the cross-functional Valuation Committee (VC). The VC is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Trustees. |
|  | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by the fund's investment manager. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by the fund's investment manager. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. |
|  | To the extent a pricing service or dealer is unable to value a security or provides a valuation that the fund's investment manager does not believe accurately reflects the security's fair value, the security will be valued at fair value by the fund's investment manager, which has been designated as valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | To the extent a pricing service or dealer is unable to value a security or provides a valuation that the fund's investment manager does not believe accurately reflects the security's fair value, the security will be valued at fair value by the fund's investment manager, which has been designated as valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. |
|  | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. |
|  | **Repurchase agreements:** The fund, or any joint trading account, through its custodian, receives delivery of the underlying securities, the fair value of which at the time of purchase is required to be in an amount at least equal to the resale price, including accrued interest. Collateral for certain tri-party repurchase agreements, which totaled $1,198,605,051 at the end of the reporting period, is held at the counterparty's custodian in a segregated account for the benefit of the fund and the counterparty. Franklin Advisers is responsible for determining that the value of these underlying securities is at all times at least equal to the resale price, including accrued interest. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. | **Repurchase agreements:** The fund, or any joint trading account, through its custodian, receives delivery of the underlying securities, the fair value of which at the time of purchase is required to be in an amount at least equal to the resale price, including accrued interest. Collateral for certain tri-party repurchase agreements, which totaled $1,198,605,051 at the end of the reporting period, is held at the counterparty's custodian in a segregated account for the benefit of the fund and the counterparty. Franklin Advisers is responsible for determining that the value of these underlying securities is at all times at least equal to the resale price, including accrued interest. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. |

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|:---|:---|:---|:---|
| ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. |
| &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. |
| The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: |
|  | **Valuation inputs** | **Valuation inputs** | **Valuation inputs** |
| **Investments in securities:** | **Level 1** | **Level 2** | **Level 3** |
| Asset-backed commercial paper | $— | $71217229 | $— |
| Certificates of deposit |  | 356197652 |  |
| Commercial paper |  | 517088502 |  |
| Repurchase agreements |  | 1173565000 |  |
| **Totals by level** | **$—** | **$2118068383** | **$—** |
| For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnam.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnam.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnam.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnam.com |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

- **c. CIK number of Registrant:** 0001005942

- **d. LEI of Registrant:** 549300S9JYWEMKQCLW53

- **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 Short Term Investment Fund

- **b. EDGAR series identifier (if any):** S000039730

- **c. LEI of Series:** 5493003MK0Q7JP8CPP42

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $3309276325.48

**Total Liabilities:** $1196603253.75

**Net Assets:** $2112673071.72

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 23264.41 | **1-Year:** 636.37 | **5-Year:** 1.64 | **10-Year:** 0 | **30-Year:** 0

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219759 | 0.37%                | 0.36%                | 0.35%                |
| Class ID C000123084 | 0.37%                | 0.36%                | 0.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-292504.93                                |
| Month 2  | $0.00                    | $-87286.69                                 |
| Month 3  | $0.00                    | $-15872.78                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BANK OF AMERICA NA                                     | CERT OF DEPOSIT      | CUSIP: 06050FMA7<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | STIV             | CORP              | US        |  21750000 | PA      | $21754328.25  | 1.03%             | 2025-06-03      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                     | CERT OF DEPOSIT      | CUSIP: 06053RBK8<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | STIV             | CORP              | US        |   9000000 | PA      | $9000000.00   | 0.43%             | 2026-04-09      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL/CHICAGO IL                            | CERT OF DEPOSIT      | CUSIP: 06367DLJ2<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | STIV             | CORP              | US        |  12250000 | PA      | $12255397.35  | 0.58%             | 2025-08-12      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA/NEW YORK NY                        | CERT OF DEPOSIT      | CUSIP: 46115LVP0<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | STIV             | CORP              | US        |  10580000 | PA      | $10597198.85  | 0.50%             | 2025-08-18      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA/NEW YORK NY                             | CERT OF DEPOSIT      | CUSIP: 05593DBQ5<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | STIV             | CORP              | US        |   7150000 | PA      | $7151181.90   | 0.34%             | 2025-06-03      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK/NEW YORK | CERT OF DEPOSIT      | CUSIP: 22532XZA9<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | US        |  22500000 | PA      | $22505807.25  | 1.07%             | 2025-06-13      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                            | CERT OF DEPOSIT      | CUSIP: 17330QGX9<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | STIV             | CORP              | US        |   9750000 | PA      | $9753501.23   | 0.46%             | 2025-09-22      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA/HOUSTON                            | CERT OF DEPOSIT      | CUSIP: 06418NCX8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | STIV             | CORP              | US        |  19000000 | PA      | $19006988.20  | 0.90%             | 2025-10-24      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                            | CERT OF DEPOSIT      | CUSIP: 17330QHA8<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | STIV             | CORP              | US        |   9750000 | PA      | $9754262.70   | 0.46%             | 2025-10-24      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA/HOUSTON                            | CERT OF DEPOSIT      | CUSIP: 06418NEA6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | STIV             | CORP              | US        |  23650000 | PA      | $23656702.41  | 1.12%             | 2025-11-06      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| MIZUHO BANK LTD/NEW YORK NY                            | CERT OF DEPOSIT      | CUSIP: 60710TVJ7<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | US        |  19250000 | PA      | $19250154.00  | 0.91%             | 2025-05-02      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK/NY                               | CERT OF DEPOSIT      | CUSIP: 89115DDT0<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | US        |  10000000 | PA      | $10002824.00  | 0.47%             | 2025-08-07      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| RABOBANK NEDERLAND NV NY                               | CERT OF DEPOSIT      | CUSIP: 21684XY34<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $20015206.00  | 0.95%             | 2025-10-20      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE/NEW YORK NY         | CERT OF DEPOSIT      | CUSIP: 13606DDB5<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | US        |  22850000 | PA      | $22858255.71  | 1.08%             | 2025-12-12      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                            | CERT OF DEPOSIT      | CUSIP: 17330QHK6<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | STIV             | CORP              | US        |  22000000 | PA      | $21988865.80  | 1.04%             | 2026-01-23      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE/NEW YORK NY         | CERT OF DEPOSIT      | CUSIP: 13606DEU2<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | US        |   7500000 | PA      | $7497939.00   | 0.35%             | 2026-02-09      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                     | CERT OF DEPOSIT      | CUSIP: 06053RAN3<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | STIV             | CORP              | US        |  13750000 | PA      | $13749181.88  | 0.65%             | 2025-11-06      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| MUFG BANK LTD/NEW YORK NY                              | CERT OF DEPOSIT      | CUSIP: 55381BEF1<br>LEI: C3GTMMZIHMY46P4OIX74 | Long             | STIV             | CORP              | US        |  20400000 | PA      | $20395020.36  | 0.97%             | 2025-11-13      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI BANKING CORP/NEW YORK                  | CERT OF DEPOSIT      | CUSIP: 86565GLH1<br>LEI: 549300MS3WYYVQ4HXM15 | Long             | STIV             | CORP              | US        |  20250000 | PA      | $20251741.50  | 0.96%             | 2025-12-08      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| MIZUHO BANK LTD/NEW YORK NY                            | CERT OF DEPOSIT      | CUSIP: 60710TG70<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | US        |  10500000 | PA      | $10498157.25  | 0.50%             | 2025-09-10      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| RABOBANK NEDERLAND NV NY                               | CERT OF DEPOSIT      | CUSIP: 21684LKF8<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | STIV             | CORP              | US        |  11000000 | PA      | $10989859.10  | 0.52%             | 2026-04-06      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                     | CERT OF DEPOSIT      | CUSIP: 06051WUD4<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | STIV             | CORP              | US        |  11000000 | PA      | $11001289.20  | 0.52%             | 2026-03-02      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK/NY                               | CERT OF DEPOSIT      | CUSIP: 89115D2P0<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | US        |  22250000 | PA      | $22263790.55  | 1.05%             | 2025-08-15      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| DNB BANK ASA                                           | DISC. CP             | CUSIP: 2332K0SU7<br>LEI: 549300GKFG0RYRRQ1414 | Long             | STIV             | CORP              | NO        |  21000000 | PA      | $20929918.80  | 0.99%             | 2025-05-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                                             | DISC. CP             | CUSIP: N/A<br>LEI: K05C0SER542GQ6VLRO68       | Long             | STIV             | CORP              | US        |   2700000 | PA      | $2699660.34   | 0.13%             | 2025-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                | DISC. CP             | CUSIP: N/A<br>LEI: 9695005MSX1OYEMGDF46       | Long             | STIV             | CORP              | FR        |  12000000 | PA      | $11858062.80  | 0.56%             | 2025-08-06      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK, PLC                                     | DISC. CP             | CUSIP: 06741FST5<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | ABS-APCP         | CORP              | GB        |  10000000 | PA      | $9966990.00   | 0.47%             | 2025-05-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ATLANTIC ASSET SECURITIZATION LLC                      | DISC. CP             | CUSIP: 04821TS14<br>LEI: 549300BUNY5BIX4CVW20 | Long             | ABS-APCP         | CORP              | US        |  18250000 | PA      | $18247800.88  | 0.86%             | 2025-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                               | DISC. CP             | CUSIP: 89233GW36<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | STIV             | CORP              | US        |  10000000 | PA      | $9850725.00   | 0.47%             | 2025-09-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CHARIOT FUNDING LLC                                    | DISC. CP             | CUSIP: N/A<br>LEI: 549300EEWRNP448AMT79       | Long             | ABS-APCP         | CORP              | US        |  15500000 | PA      | $15488756.30  | 0.73%             | 2025-05-06      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                | DISC. CP             | CUSIP: N/A<br>LEI: 9695005MSX1OYEMGDF46       | Long             | STIV             | CORP              | FR        |  11250000 | PA      | $11067539.63  | 0.52%             | 2025-09-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EXPORT DEVELOPMENT CANADA                              | DISC. CP             | CUSIP: 30215GV58<br>LEI: Z6MHCSLXHKYG4B6PHW02 | Long             | STIV             | CORP              | CA        |  17800000 | PA      | $17597868.54  | 0.83%             | 2025-08-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                        | DISC. CP             | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | STIV             | CORP              | FI        |  11500000 | PA      | $11281022.75  | 0.53%             | 2025-10-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NRW BANK                                               | DISC. CP             | CUSIP: 62939LTP4<br>LEI: 52990002O5KK6XOGJ020 | Long             | STIV             | CORP              | DE        |  11500000 | PA      | $11426946.25  | 0.54%             | 2025-06-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TOYOTA CREDIT DE PUERTO RICO CORP                      | DISC. CP             | CUSIP: 8923A0VJ9<br>LEI: 549300C3PZBB11ZOEC65 | Long             | STIV             | CORP              | PR        |   6500000 | PA      | $6413306.25   | 0.30%             | 2025-08-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MANHATTAN ASSET FUNDING CO LLC                         | DISC. CP             | CUSIP: 56274LTJ3<br>LEI: 549300S0NSJYSOB32S63 | Long             | ABS-APCP         | CORP              | US        |   9250000 | PA      | $9194657.25   | 0.44%             | 2025-06-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DNB BANK ASA                                           | DISC. CP             | CUSIP: 2332K0ZK1<br>LEI: 549300GKFG0RYRRQ1414 | Long             | STIV             | CORP              | NO        |  11000000 | PA      | $10704238.60  | 0.51%             | 2025-12-19      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                               | DISC. CP             | CUSIP: 89152ET24<br>LEI: 529900QI55ZLJVCMPA71 | Long             | STIV             | CORP              | FR        |  11000000 | PA      | $10956057.20  | 0.52%             | 2025-06-02      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                               | DISC. CP             | CUSIP: 89152ETT5<br>LEI: 529900QI55ZLJVCMPA71 | Long             | STIV             | CORP              | FR        |  11000000 | PA      | $10922323.50  | 0.52%             | 2025-06-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ABN AMRO FUNDING USA LLC                               | DISC. CP             | CUSIP: N/A<br>LEI: 549300WEQ09INLYV6558       | Long             | STIV             | CORP              | US        |  22500000 | PA      | $22086339.75  | 1.05%             | 2025-09-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MIZUHO BANK LTD/NEW YORK NY                            | DISC. CP             | CUSIP: 60689FX37<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | US        |  10201000 | PA      | $10011348.11  | 0.47%             | 2025-10-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                     | DISC. CP             | CUSIP: 05970RWQ4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | STIV             | CORP              | ES        |  21000000 | PA      | $20627802.30  | 0.98%             | 2025-09-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AUSTRALIA  AND  NEW ZEALAND BANKING GROUP LTD          | DISC. CP             | CUSIP: 05253AUA6<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | STIV             | CORP              | AU        |  18500000 | PA      | $18343462.25  | 0.87%             | 2025-07-10      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VICTORY RECEIVABLES CORP                               | DISC. CP             | CUSIP: N/A<br>LEI: 549300D0F37QF0LP7F94       | Long             | ABS-APCP         | CORP              | US        |   9400000 | PA      | $9386301.38   | 0.44%             | 2025-05-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                               | DISC. CP             | CUSIP: N/A<br>LEI: 529900QI55ZLJVCMPA71       | Long             | STIV             | CORP              | FR        |  10750000 | PA      | $10649305.83  | 0.50%             | 2025-07-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CHARIOT FUNDING LLC                                    | DISC. CP             | CUSIP: N/A<br>LEI: 549300EEWRNP448AMT79       | Long             | ABS-APCP         | CORP              | US        |  10500000 | PA      | $10479640.50  | 0.50%             | 2025-05-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK, PLC                                     | DISC. CP             | CUSIP: 06741FSK4<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | STIV             | CORP              | GB        |  10200000 | PA      | $10176413.52  | 0.48%             | 2025-05-19      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LIBERTY STREET FUNDING LLC                             | DISC. CP             | CUSIP: N/A<br>LEI: 549300F33VRHM10B9391       | Long             | ABS-APCP         | CORP              | US        |   8500000 | PA      | $8420071.95   | 0.40%             | 2025-07-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK/THE                              | DISC. CP             | CUSIP: 89119ASP4<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | CA        |   8250000 | PA      | $8226959.40   | 0.39%             | 2025-05-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                       | DISC. CP             | CUSIP: 06369LTA3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | STIV             | CORP              | CA        |  20000000 | PA      | $19901030.00  | 0.94%             | 2025-06-10      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | INT BEAR CP          | CUSIP: 78014XNA1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | STIV             | CORP              | CA        |  20500000 | PA      | $20508815.00  | 0.97%             | 2025-07-11      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | INT BEAR CP          | CUSIP: 78014XPU5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | STIV             | CORP              | CA        |  10500000 | PA      | $10491395.25  | 0.50%             | 2026-03-23      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK OF AUSTRALIA                         | INT BEAR CP          | CUSIP: 20272A6X9<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | STIV             | CORP              | AU        |  18750000 | PA      | $18757441.88  | 0.89%             | 2025-09-29      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                   | INT BEAR CP          | CUSIP: 9612C45X5<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | STIV             | CORP              | AU        |  19750000 | PA      | $19754680.75  | 0.94%             | 2025-07-02      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK OF AUSTRALIA                         | INT BEAR CP          | CUSIP: 20272A6Y7<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | STIV             | CORP              | AU        |  17250000 | PA      | $17254224.53  | 0.82%             | 2025-07-07      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| AUSTRALIA  AND  NEW ZEALAND BANKING GROUP LTD          | INT BEAR CP          | CUSIP: 05253MWZ3<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | STIV             | CORP              | AU        |  20100000 | PA      | $20103213.99  | 0.95%             | 2025-08-21      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                     | INT BEAR CP          | CUSIP: 05971YBT5<br>LEI: 5493006QMFDDMYWIAM13 | Long             | STIV             | CORP              | ES        |  19750000 | PA      | $19751260.05  | 0.93%             | 2025-06-06      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK LTD                            | INT BEAR CP          | CUSIP: 63254GN68<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | STIV             | CORP              | AU        |  20000000 | PA      | $20000914.00  | 0.95%             | 2025-08-26      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANK PLC                                        | INT BEAR CP          | CUSIP: 53944TBA1<br>LEI: H7FNTJ4851HG0EXQ1Z70 | Long             | STIV             | CORP              | GB        |  14000000 | PA      | $14001253.00  | 0.66%             | 2025-08-07      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK LTD                            | INT BEAR CP          | CUSIP: 63254GP90<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | STIV             | CORP              | AU        |  12250000 | PA      | $12250851.38  | 0.58%             | 2026-02-20      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                        | INT BEAR CP          | CUSIP: 65557RGL8<br>LEI: 529900ODI3047E2LIV03 | Long             | STIV             | CORP              | FI        |  11500000 | PA      | $11498523.40  | 0.54%             | 2025-09-22      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                   | INT BEAR CP          | CUSIP: 9612C46W6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | STIV             | CORP              | AU        |  20300000 | PA      | $20274292.08  | 0.96%             | 2026-03-02      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| AUSTRALIA  AND  NEW ZEALAND BANKING GROUP LTD          | INT BEAR CP          | CUSIP: 05253MYE8<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | STIV             | CORP              | AU        |  10750000 | PA      | $10749774.25  | 0.51%             | 2026-02-11      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                       | INT BEAR CP          | CUSIP: 06367L2R7<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | STIV             | CORP              | CA        |  11500000 | PA      | $11491208.25  | 0.54%             | 2026-04-13      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| ING US FUNDING LLC                                     | INT BEAR CP          | CUSIP: 44988GF52<br>LEI: 254900QX5Y2ZDZ6XBT08 | Long             | STIV             | CORP              | US        |  24500000 | PA      | $24503333.23  | 1.16%             | 2025-06-05      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                               | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: 549300LCO2FLSSVFFR64       | Long             | RA               | CORP              | CA        |  25000000 | PA      | $25000000.00  | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORPORATION                     | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: RCNB6OTYUAMMP879YW96       | Long             | RA               | CORP              | FR        |  25000000 | PA      | $25000000.00  | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORPORATION                     | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: RCNB6OTYUAMMP879YW96       | Long             | RA               | CORP              | US        | 100000000 | PA      | $100000000.00 | 4.73%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES, LLC.                           | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        | 200000000 | PA      | $200000000.00 | 9.47%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES, LLC.                           | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        | 122000000 | PA      | $122000000.00 | 5.77%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA), INC.                            | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: CYYGQCGNHMHPSMRL3R97       | Long             | RA               | CORP              | US        | 167876000 | PA      | $167876000.00 | 7.95%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS  AND  CO LLC                             | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | Long             | RA               | CORP              | US        | 118283000 | PA      | $118283000.00 | 5.60%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL, INC.                                 | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |  25000000 | PA      | $25000000.00  | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL, INC.                                 | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |  50000000 | PA      | $50000000.00  | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Montreal                                       | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: NQQ6HPCNCCU6TUTQYE16       | Long             | RA               | CORP              | US        |  22000000 | PA      | $22000000.00  | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                                  | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        | 177523000 | PA      | $177523000.00 | 8.40%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                          | REPURCHASE AGREEMENT | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Long             | RA               | CORP              | US        | 140883000 | PA      | $140883000.00 | 6.67%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-18

**Name of Applicant:** Putnam Funds Trust

**Signature:** Kevin R Blatchford

**Name of Signer:** Kevin R Blatchford

**Title:** Assistant Treasurer