# EDGAR Filing Document

**Accession Number:** 0000822671
**File Stem:** 0000869392-23-000396
**Filing Date:** 2023-2
**Character Count:** 42103
**Document Hash:** 988256cc4e0478e5820522a9c042566c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000396.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0000869392-23-000396

**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:** 23666816

**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 International Value Fund (Series ID: S000003878)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000010851 | Class IA Shares |  |
| C000010852 | 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 International Value Fund

- **b. EDGAR series identifier (if any):** S000003878

- **c. LEI of Series:** TNUK5E0XNNLQBFCQD252

**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:** $86023292.47

**Total Liabilities:** $535261.88

**Net Assets:** $85488030.59

**Cash Not Reported:** $24691.43

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010851 | 0.30%                | 13.65%               | 6.68%                |
| Class ID C000010852 | 0.30%                | 13.72%               | 6.65%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12968.47                | $86704.97                                  |
| Month 2  | $-3450.90                | $10010539.49                               |
| Month 3  | $-353629.30              | $5226942.65                                |

**Designated Index Information**

- **Index Name:** MSCI EAFE Value Index

- **Index Identifier:** IDX00567

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GOLDMAN SACHS INTL FX                   | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              | CORP              | US        |         1 | NC      | $203689.34    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                  | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | N/A              | DFE              | CORP              | US        |         1 | NC      | $330204.20    | 0.39%             |  |  |  | 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      | $276990.26    | 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      | $309623.67    | 0.36%             |  |  |  | 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      | $466286.08    | 0.55%             |  |  |  | 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      | $119118.99    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $162500.45    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK N.A.                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: E57ODZWZ7FF32TWEFA76       | N/A              | DFE              | CORP              | US        |         1 | NC      | $1056354.41   | 1.24%             |  |  |  | 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      | $394563.37    | 0.46%             |  |  |  | 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      | $184725.38    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                  | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | N/A              | DFE              | CORP              | US        |         1 | NC      | $608389.83    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION             | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: EN5TNI6CI43VEPAMHL14       | N/A              | DFE              | CORP              | US        |         1 | NC      | $294629.96    | 0.34%             |  |  |  | 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      | $666656.82    | 0.78%             |  |  |  | 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      | $221673.95    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK/THE               | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DFE              | CORP              | CA        |         1 | NC      | $533884.08    | 0.62%             |  |  |  | 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      | $435769.44    | 0.51%             |  |  |  | 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      | $435769.44    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $1702456.36   | 1.99%             |  |  |  | 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      | $248275.16    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTL FX                   | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              | CORP              | US        |         1 | NC      | $332599.89    | 0.39%             |  |  |  | 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      | $324626.62    | 0.38%             |  |  |  | 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      | $159553.42    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTL FX                   | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              | CORP              | US        |         1 | NC      | $15011.04     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $219019.95    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION             | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: EN5TNI6CI43VEPAMHL14       | N/A              | DFE              | CORP              | US        |         1 | NC      | $220268.70    | 0.26%             |  |  |  | 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      | $123050.28    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $180428.91    | 0.21%             |  |  |  | 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      | $357535.09    | 0.42%             |  |  |  | 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      | $320823.73    | 0.38%             |  |  |  | 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      | $259108.11    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK N.A.                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: E57ODZWZ7FF32TWEFA76       | N/A              | DFE              | CORP              | US        |         1 | NC      | $773288.90    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $62333.89     | 0.07%             |  |  |  | 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      | $556319.03    | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $138180.71    | 0.16%             |  |  |  | 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      | $272656.26    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK/THE               | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DFE              | CORP              | CA        |         1 | NC      | $343272.27    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: RR3QWICWWIPCS8A4S074       | N/A              | DFE              | CORP              | GB        |         1 | NC      | $1933004.30   | 2.26%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK N.A.                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: E57ODZWZ7FF32TWEFA76       | N/A              | DFE              | CORP              | US        |         1 | NC      | $526078.33    | 0.62%             |  |  |  | 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      | $155117.13    | 0.18%             |  |  |  | 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      | $10412.21     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $189354.83    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $358169.38    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $420477.55    | 0.49%             |  |  |  | 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      | $435432.16    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK/THE               | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DFE              | CORP              | CA        |         1 | NC      | $333261.08    | 0.39%             |  |  |  | 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      | $316346.43    | 0.37%             |  |  |  | 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      | $1041252.06   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: RR3QWICWWIPCS8A4S074       | N/A              | DFE              | CORP              | GB        |         1 | NC      | $486676.45    | 0.57%             |  |  |  | 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      | $1781095.45   | 2.08%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $616425.91    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK N.A.                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: E57ODZWZ7FF32TWEFA76       | N/A              | DFE              | CORP              | US        |         1 | NC      | $699988.56    | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK/THE               | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DFE              | CORP              | CA        |         1 | NC      | $265750.47    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| CAIXABANK SA                            | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |    168945 | NS      | $664070.51    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SOMPO HOLDINGS INC                      | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               | CORP              | JP        |     17600 | NS      | $785857.97    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA GROUP LTD                           | ORDINARY SHARES     | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |    201600 | NS      | $2241879.71   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS GROUP AG                            | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |     87020 | NS      | $1619184.66   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA-COLA EUROPACIFIC PARTNERS PLC      | ORDINARY SHARES     | CUSIP: G25839104<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |     22595 | NS      | $1249955.40   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CAIRN HOMES PLC                         | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 635400DPX6WP2KKDOA83       | Long             | EC               | CORP              | IE        |    465226 | NS      | $432264.81    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| AIB GROUP PLC                           | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               | CORP              | IE        |    454973 | NS      | $1761084.63   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| QUILTER PLC                             | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 54930092XIVK28RZGM95       | Long             | EC               | CORP              | GB        |    420725 | NS      | $472624.13    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS ENERGY AG                       | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 5299005CHJZ14D4FDJ62       | Long             | EC               | CORP              | DE        |      6065 | NS      | $114101.76    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| UNILEVER PLC                            | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |     18829 | NS      | $944687.98    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DNB BANK ASA                            | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300GKFG0RYRRQ1414       | Long             | EC               | CORP              | NO        |     44592 | NS      | $885076.19    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                               | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |     85547 | NS      | $2405596.98   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| TELSTRA GROUP LTD                       | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 894500WRW54CVN62K416       | Long             | EC               | CORP              | AU        |    186755 | NS      | $507337.15    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ GROUP HOLDINGS LTD                  | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |    116758 | NS      | $1880844.61   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                                 | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |     57836 | NS      | $1197044.75   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                          | ORDINARY SHARES     | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |     27911 | NS      | $1590967.07   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| KONINKLIJKE AHOLD DELHAIZE NV           | ORDINARY SHARES     | CUSIP: N0139V100<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     40817 | NS      | $1172707.69   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL PLC                          | ORDINARY SHARES     | CUSIP: G72899100<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |     88638 | NS      | $1208216.81   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                       | ORDINARY SHARES     | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |    335359 | NS      | $2090814.35   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| FERGUSON PLC                            | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 213800DU1LGY3R2S2X42       | Long             | EC               | CORP              | GB        |      6152 | NS      | $776470.93    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| PANASONIC HOLDINGS CORP                 | ORDINARY SHARES     | CUSIP: J6354Y104<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |     75000 | NS      | $634619.78    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO TINTO PLC                           | ORDINARY SHARES     | CUSIP: G75754104<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     18387 | NS      | $1288835.42   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS AG                              | ORDINARY SHARES     | CUSIP: D69671218<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     14496 | NS      | $2011654.45   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SONY GROUP CORP                         | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |     11800 | NS      | $902263.03    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU CORP                             | ORDINARY SHARES     | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |     32300 | NS      | $1020388.60   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON TELEGRAPH  AND  TELEPHONE CORP   | ORDINARY SHARES     | CUSIP: J59396101<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |     68500 | NS      | $1963555.32   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| HOYA CORP                               | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 353800X4VR3BHEUCJB42       | Long             | EC               | CORP              | JP        |     10400 | NS      | $1006796.71   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MINEBEA MITSUMI INC                     | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 353800CCB0CZ75YZ4010       | Long             | EC               | CORP              | JP        |     59500 | NS      | $893588.08    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                  | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    315908 | NS      | $1813723.87   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                                 | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |     24597 | NS      | $974467.61    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNCOR ENERGY INC                       | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300W70ZOQDVLCHY06       | Long             | EC               | CORP              | CA        |     57216 | NS      | $1814938.85   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTAL S.A.                              | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |     21349 | NS      | $1340329.99   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS GROUP PLC                       | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 2138008M6MH9OZ6U2T68       | Long             | EC               | CORP              | GB        |     29518 | NS      | $684275.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| YAMAHA MOTOR CO LTD                     | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 3538004LR5NXILJDHY88       | Long             | EC               | CORP              | JP        |     45200 | NS      | $1036665.65   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AJINOMOTO CO INC                        | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 353800UT0TLROREPIC92       | Long             | EC               | CORP              | JP        |     26300 | NS      | $807797.17    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                         | ORDINARY SHARES     | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |     14367 | NS      | $1948452.86   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI CORP                         | ORDINARY SHARES     | CUSIP: J43830116<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |     71600 | NS      | $2336656.51   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUI FUDOSAN CO LTD                   | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 353800ND4ZKNZDYKMF33       | Long             | EC               | CORP              | JP        |     36400 | NS      | $670365.74    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX CORP                               | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 35380016EMHNBOVYE123       | Long             | EC               | CORP              | JP        |     57400 | NS      | $926561.26    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLO AMERICAN PLC                      | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |     44285 | NS      | $1732768.87   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS GROUP HOLDINGS LTD                  | ORDINARY SHARES     | CUSIP: Y20246107<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |     39304 | NS      | $995364.85    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE SYSTEMS PLC                         | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |     81149 | NS      | $839779.58    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| CIE DE SAINT-GOBAIN                     | ORDINARY SHARES     | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |     17603 | NS      | $860188.54    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| VODAFONE GROUP PLC                      | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |    943719 | NS      | $961101.90    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| VINCI SA                                | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |     23897 | NS      | $2386407.79   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                  | ORDINARY SHARES     | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |     61630 | NS      | $1718895.31   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI                                  | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |     28927 | NS      | $2781885.94   | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NSK LTD                                 | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 353800FVQK6SULSPBC69       | Long             | EC               | CORP              | JP        |     56300 | NS      | $300718.53    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE TELEKOM AG                     | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |     62642 | NS      | $1249772.90   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ASAHI GROUP HOLDINGS LTD                | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 353800KAJ02XNHLCJW79       | Long             | EC               | CORP              | JP        |     19700 | NS      | $618289.39    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV                            | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    231422 | NS      | $2821098.71   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE POST AG                        | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |     26367 | NS      | $992939.38    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                     | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |     37435 | NS      | $937273.44    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| JD SPORTS FASHION PLC                   | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 213800HROV6Y9MUU8375       | Long             | EC               | CORP              | GB        |    562658 | NS      | $858104.40    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KERRY GROUP PLC                         | ORDINARY SHARES     | CUSIP: G52416107<br>LEI: 635400TLVVBNXLFHWC59 | Long             | EC               | CORP              | IE        |      5825 | NS      | $525267.43    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNA INTERNATIONAL INC                 | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 95RWVLFZX6VGDZNNTN43       | Long             | EC               | CORP              | CA        |     15249 | NS      | $856601.88    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| VEOLIA ENVIRONNEMENT SA                 | ORDINARY SHARES     | CUSIP: F9686M107<br>LEI: 969500LENY69X51OOT31 | Long             | EC               | CORP              | FR        |     59793 | NS      | $1536129.28   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTUM OYJ                              | ORDINARY SHARES     | CUSIP: X2978Z118<br>LEI: 635400IUIZZIUJSAMF76 | Long             | EC               | CORP              | FI        |     32682 | NS      | $543658.05    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI CORP                               | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |     20100 | NS      | $609861.32    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| PAN PACIFIC INTERNATIONAL HOLDINGS CORP | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 529900QLHJM2E18A5763       | Long             | EC               | CORP              | JP        |     41800 | NS      | $781281.62    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| LITE-ON TECHNOLOGY CORP                 | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 2549005GU1PQ73SZBT32       | Long             | EC               | CORP              | TW        |    419000 | NS      | $869749.96    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| QANTAS AIRWAYS LTD                      | ORDINARY SHARES     | CUSIP: N/A<br>LEI: YLXNW6TI6QSK1H8H0N82       | Long             | EC               | CORP              | AU        |    286697 | NS      | $1173138.13   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| QBE INSURANCE GROUP LTD                 | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 549300D2FBW76FPUSG65       | Long             | EC               | CORP              | AU        |    186203 | NS      | $1702606.22   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EURAZEO SE                              | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 969500C656AA39O94N60       | Long             | EC               | CORP              | FR        |     13195 | NS      | $820638.16    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO MITSUI FINANCIAL GROUP INC     | ORDINARY SHARES     | CUSIP: J7771X109<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |     56400 | NS      | $2275940.26   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| MIZUHO FINANCIAL GROUP INC              | ORDINARY SHARES     | CUSIP: J4599L102<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     41480 | NS      | $586611.40    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| RENESAS ELECTRONICS CORP                | ORDINARY SHARES     | CUSIP: J4881U109<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |     87600 | NS      | $789961.90    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| LANXESS AG                              | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 529900PTLRE72EMYIJ77       | Long             | EC               | CORP              | DE        |     13157 | NS      | $530963.18    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| SEVEN  AND  I HOLDINGS CO LTD           | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 52990037G8JRM3TWGY86       | Long             | EC               | CORP              | JP        |     16500 | NS      | $711597.07    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| HANA FINANCIAL GROUP INC                | ORDINARY SHARES     | CUSIP: Y29975102<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     38047 | NS      | $1265224.48   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PUTNAM SHORT TERM INVESTMENT FUND       | SHORT TERM INV FUND | CUSIP: 74676P664<br>LEI: 5493003MK0Q7JP8CPP42 | Long             | STIV             | PF                | US        |   1381053 | NS      | $1381053.00   | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED STATES OF AMERICA                | U.S. T BILLS        | CUSIP: 912796ZJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $199859.32    | 0.23%             | 2023-01-10      | 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