# EDGAR Filing Document

**Accession Number:** 0000822671
**File Stem:** 0000869392-23-000389
**Filing Date:** 2023-2
**Character Count:** 32101
**Document Hash:** 139e239fd32f1d85beeab3d80110daf3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000389.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0000869392-23-000389

**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:** 23666620

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

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

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

## Series and Classes Contracts Data

### Putnam VT Sustainable Future Fund (Series ID: S000003881)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000010857 | Class IA Shares |  |
| C000010858 | Class IB Shares |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

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

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

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

- **b. EDGAR series identifier (if any):** S000003881

- **c. LEI of Series:** JYIPQPR6E8NLCIAKNR15

**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:** $25287476.10

**Total Liabilities:** $167550.31

**Net Assets:** $25119925.78

**Cash Not Reported:** $378.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010858 | -6.96%               | 4.30%                | 5.05%                |
| Class ID C000010857 | -6.89%               | 4.26%                | 5.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-86691.98               | $-1744390.40                               |
| Month 2  | $-368642.55              | $1625880.60                                |
| Month 3  | $-309102.22              | $1625282.82                                |

**Designated Index Information**

- **Index Name:** Russell MidCap - Growth

- **Index Identifier:** IDX00108

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MSCI INC                                                | COMMON STOCK        | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      1602 | NS      | $745202.34    | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                                          | COMMON STOCK        | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1255 | NS      | $436401.15    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICENOW INC                                          | COMMON STOCK        | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       960 | NS      | $372739.20    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PALO ALTO NETWORKS INC                                  | COMMON STOCK        | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      3391 | NS      | $473180.14    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOETIS INC                                              | COMMON STOCK        | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      2646 | NS      | $387771.30    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| HANNON ARMSTRONG SUSTAINABLE INFRASTRUCTURE CAPITAL INC | COMMON STOCK        | CUSIP: 41068X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11200 | NS      | $324576.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SPROUTS FARMERS MARKET INC                              | COMMON STOCK        | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     13863 | NS      | $448745.31    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYSTEMS INC                                       | COMMON STOCK        | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      2908 | NS      | $469293.04    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEGG INC                                               | COMMON STOCK        | CUSIP: 163092109<br>LEI: 549300AKX7O8JG0O3G77 | Long             | EC               | CORP              | US        |      5501 | NS      | $139010.27    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHEQUITY INC                                        | COMMON STOCK        | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |      7726 | NS      | $476230.64    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEMS INC                           | COMMON STOCK        | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |      2222 | NS      | $182137.34    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST REPUBLIC BANK/CA                                  | COMMON STOCK        | CUSIP: 33616C100<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EC               | CORP              | US        |      1852 | NS      | $225740.28    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL INC                              | COMMON STOCK        | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       526 | NS      | $729819.74    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY GLOBAL PLC                                      | COMMON STOCK        | CUSIP: G5480U120<br>LEI: 549300BSGXG3QLIQYT84 | Long             | EC               | CORP              | GB        |     22018 | NS      | $427809.74    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| DEXCOM INC                                              | COMMON STOCK        | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      6899 | NS      | $781242.76    | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNRUN INC                                              | COMMON STOCK        | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |      8963 | NS      | $215291.26    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| INGEVITY CORP                                           | COMMON STOCK        | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |      4907 | NS      | $345649.08    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ZSCALER INC                                             | COMMON STOCK        | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      2402 | NS      | $268783.80    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CERIDIAN HCM HOLDING INC                                | COMMON STOCK        | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Long             | EC               | CORP              | US        |      5422 | NS      | $347821.30    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| VERRA MOBILITY CORP                                     | COMMON STOCK        | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |     25208 | NS      | $348626.64    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| TWIST BIOSCIENCE CORP                                   | COMMON STOCK        | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |      5003 | NS      | $119121.43    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| LEVI STRAUSS  AND  CO                                   | COMMON STOCK        | CUSIP: 52736R102<br>LEI: MB0UERO0RDFKU8258G77 | Long             | EC               | CORP              | US        |     27214 | NS      | $422361.28    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| PINTEREST INC                                           | COMMON STOCK        | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16978 | NS      | $412225.84    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWDSTRIKE HOLDINGS INC                                | COMMON STOCK        | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      3931 | NS      | $413894.99    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNATRACE INC                                           | COMMON STOCK        | CUSIP: 268150109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11876 | NS      | $454850.80    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| BILL.COM HOLDINGS INC                                   | COMMON STOCK        | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |      1888 | NS      | $205716.48    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| GINKGO BIOWORKS HOLDINGS INC                            | COMMON STOCK        | CUSIP: 37611X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11871 | NS      | $20061.99     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GINKGO BIOWORKS HOLDINGS INC                            | COMMON STOCK        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     42063 | NS      | $71086.47     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE  AND  MAIN INC                                     | COMMON STOCK        | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13524 | NS      | $261148.44    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PLANET LABS PBC                                         | COMMON STOCK        | CUSIP: 72703X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58564 | NS      | $254753.40    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORP                               | COMMON STOCK        | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      3580 | NS      | $308631.80    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLASSIAN CORP                                          | COMMON STOCK        | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      1551 | NS      | $199582.68    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| COOPER COS INC/THE                                      | COMMON STOCK        | CUSIP: 216648402<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      1428 | NS      | $472196.76    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                                            | COMMON STOCK        | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      3204 | NS      | $850405.68    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                  | COMMON STOCK        | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      1342 | NS      | $579864.78    | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORP                                             | COMMON STOCK        | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1695 | NS      | $765495.90    | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GARTNER INC                                             | COMMON STOCK        | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |      1922 | NS      | $646061.08    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| MCCORMICK  AND  CO INC/MD                               | COMMON STOCK        | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Long             | EC               | CORP              | US        |      6460 | NS      | $535469.40    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL SIGNAL CORP                                     | COMMON STOCK        | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |      9666 | NS      | $449179.02    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| BIO-RAD LABORATORIES INC                                | COMMON STOCK        | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |      1190 | NS      | $500383.10    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC                            | COMMON STOCK        | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1265 | NS      | $696622.85    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| EDWARDS LIFESCIENCES CORP                               | COMMON STOCK        | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      1862 | NS      | $138923.82    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC                                               | COMMON STOCK        | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      1652 | NS      | $555947.56    | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC                                      | COMMON STOCK        | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3975 | NS      | $332310.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS INC                           | COMMON STOCK        | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       786 | NS      | $567091.14    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES INC                                     | COMMON STOCK        | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      2771 | NS      | $394867.50    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIMBLE INC                                             | COMMON STOCK        | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |      7888 | NS      | $398817.28    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| REGAL REXNORD CORP                                      | COMMON STOCK        | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |      2247 | NS      | $269595.06    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VAIL RESORTS INC                                        | COMMON STOCK        | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |      1356 | NS      | $323202.60    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC                                   | COMMON STOCK        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      4784 | NS      | $465865.92    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                                             | COMMON STOCK        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      1855 | NS      | $271089.70    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CASELLA WASTE SYSTEMS INC                               | COMMON STOCK        | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |      6805 | NS      | $539704.55    | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| EXACT SCIENCES CORP                                     | COMMON STOCK        | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |      6249 | NS      | $309387.99    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS PATHWAYS PLC                                    | COMMON STOCK - ADR  | CUSIP: 20451W101<br>LEI: 213800N7CUZIC6QSTZ31 | Long             | EC               | CORP              | GB        |     11330 | NS      | $90979.90     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV                                         | COMMON STOCK - ADR  | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       801 | NS      | $437666.40    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| IMMUNOCORE HOLDINGS PLC                                 | COMMON STOCK - ADR  | CUSIP: N/A<br>LEI: 213800IUE3DFS84BVN18       | Long             | EC               | CORP              | GB        |      2165 | NS      | $123556.55    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S                                     | COMMON STOCK - ADR  | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      1724 | NS      | $210552.12    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS INTL FX                                   | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              | CORP              | US        |         1 | NC      | $31252.73     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK N.A.                                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: E57ODZWZ7FF32TWEFA76       | N/A              | DFE              | CORP              | US        |         1 | NC      | $117553.50    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $45512.85     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $57315.83     | 0.23%             |  |  |  | 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      | $139744.27    | 0.56%             |  |  |  | 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      | $53401.22     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $68.12        | 0.00%             |  |  |  | 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      | $77704.86     | 0.31%             |  |  |  | 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      | $433890.47    | 1.73%             |  |  |  | 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      | $467341.12    | 1.86%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGANCHASE BANK                                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              | CORP              | US        |         1 | NC      | $71956.55     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC                                     | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: RR3QWICWWIPCS8A4S074       | N/A              | DFE              | CORP              | GB        |         1 | NC      | $87732.79     | 0.35%             |  |  |  | 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      | $151180.59    | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $148893.92    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA N.A.                                    | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              | CORP              | US        |         1 | NC      | $169068.70    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $546396.53    | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $253836.68    | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC BANK USA                                           | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: 1IE8VN30JCEQV1H4R804       | N/A              | DFE              | CORP              | US        |         1 | NC      | $81234.61     | 0.32%             |  |  |  | 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      | $100154.07    | 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      | $88406.86     | 0.35%             |  |  |  | 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      | $163613.24    | 0.65%             |  |  |  | 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      | $103471.15    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                             | CURRENCY FORWARDS   | CUSIP: N/A<br>LEI: EN5TNI6CI43VEPAMHL14       | N/A              | DFE              | CORP              | US        |         1 | NC      | $101104.87    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| LULULEMON ATHLETICA INC                                 | ORDINARY SHARES     | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | CA        |      1648 | NS      | $527986.24    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BUREAU VERITAS SA                                       | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 969500TPU5T3HA5D1F11       | Long             | EC               | CORP              | FR        |     12450 | NS      | $327979.84    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| SOLAREDGE TECHNOLOGIES INC                              | ORDINARY SHARES     | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | IL        |      1096 | NS      | $310463.92    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| EURAZEO SE                                              | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 969500C656AA39O94N60       | Long             | EC               | CORP              | FR        |      6081 | NS      | $378196.34    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVOZYMES A/S - B SHARES                                | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 529900T6WNZXD2R3JW38       | Long             | EC               | CORP              | DK        |      6940 | NS      | $351555.54    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KONINKLIJKE DSM NV                                      | ORDINARY SHARES     | CUSIP: N/A<br>LEI: 724500SNT1MK246AHP04       | Long             | EC               | CORP              | NL        |      3282 | NS      | $401560.50    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PUTNAM SHORT TERM INVESTMENT FUND                       | SHORT TERM INV FUND | CUSIP: 74676P664<br>LEI: 5493003MK0Q7JP8CPP42 | Long             | STIV             | PF                | US        |    726550 | NS      | $726550.00    | 2.89%             |  |  |  | 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