# EDGAR Filing Document

**Accession Number:** 0000932101
**File Stem:** 0002071691-25-009315
**Filing Date:** 2025-12
**Character Count:** 66219
**Document Hash:** 0cb93eaa782788cb3f68e93fcf1ca0c5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-009315.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-009315

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM INVESTMENT FUNDS
- **CENTRAL INDEX KEY:** 0000932101

**ORGANIZATION NAME:**
- **EIN:** 043251560
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07237
- **FILM NUMBER:** 251595212

**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 EQUITY FUNDS
- **DATE OF NAME CHANGE:** 19941028

## Series and Classes Contracts Data

### Putnam U.S. Research Fund (Series ID: S000003853)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000010781 | Class A Shares  | PNRAX           |
| C000010783 | Class C Shares  | PRACX           |
| C000010785 | Class R Shares  | PRSRX           |
| C000010786 | Class Y Shares  | PURYX           |
| C000158892 | Class R6 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 Investment Funds

- **b. Investment Company Act file number:** 811-07237

- **c. CIK number of Registrant:** 0000932101

- **d. LEI of Registrant:** 549300SRAF55EHI5J317

- **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:** 617-292-1000

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

- **a. Name of Series:** Putnam U.S. Research Fund

- **b. EDGAR series identifier (if any):** S000003853

- **c. LEI of Series:** 549300117TPVVMBVZ589

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $668704919.26

**Total Liabilities:** $919212.49

**Net Assets:** $667785706.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010781 | 1.79%                | 4.30%                | 2.80%                |
| Class ID C000158892 | 1.82%                | 4.34%                | 2.82%                |
| Class ID C000010786 | 1.82%                | 4.34%                | 2.84%                |
| Class ID C000010783 | 1.73%                | 4.24%                | 2.72%                |
| Class ID C000010785 | 1.76%                | 4.28%                | 2.78%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3129187.54              | $7753881.15                                |
| Month 2  | $5274769.83              | $20747119.48                               |
| Month 3  | $8163635.44              | $9799377.93                                |

**Designated Index Information**

- **Index Name:** SS&P 500 Daily Index

- **Index Identifier:** BM0129

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2886.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lam Research Corp.                            | Lam Research Corp.                                     | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     55107 | NS      | $8677148.22   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Southwest Airlines Co.                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    861160 | NC      | $4380.96      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock, Inc.                               | BlackRock, Inc.                                        | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      3232 | NS      | $3499641.92   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $90182.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                             | Exxon Mobil Corp.                                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     83359 | NS      | $9532935.24   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1297.55      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $21149.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                | Alphabet, Inc., Class A                                | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    110701 | NS      | $31128014.19  | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart, Inc.                                 | Walmart, Inc.                                          | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     75003 | NS      | $7588803.54   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group, Inc.                               | CME Group, Inc.                                        | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      6544 | NS      | $1737366.56   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $49362.19     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH plc                                       | CRH plc                                                | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |     35598 | NS      | $4239721.80   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                  | NVIDIA Corp.                                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    237865 | NS      | $48165283.85  | 7.21%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                      | U.S. Treasury Bills                                    | CUSIP: 912797QS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    200000 | PA      | $199333.59    | 0.03%             | 2025-12-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                              | Amazon.com, Inc.                                       | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    124925 | NS      | $30509183.50  | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp.                        | Northrop Grumman Corp.                                 | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      5423 | NS      | $3164049.35   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings, Inc.            | BJ's Wholesale Club Holdings, Inc.                     | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      9918 | NS      | $875362.68    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1292.27      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                               | Eli Lilly & Co.                                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     11401 | NS      | $9837466.86   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp.                                 | Danaher Corp.                                          | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      5480 | NS      | $1180282.40   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp.                                   | Intel Corp.                                            | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    176744 | NS      | $7067992.56   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp.                       | Boston Scientific Corp.                                | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     27830 | NS      | $2803037.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova, Inc.                              | GE Vernova, Inc.                                       | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      5403 | NS      | $3161511.42   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                                   | Apple, Inc.                                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    124100 | NS      | $33552917.00  | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy, Inc.                          | NextEra Energy, Inc.                                   | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     40417 | NS      | $3289943.80   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.                        | Southwest Airlines Co.                                 | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     45133 | NS      | $1367529.90   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                         | Spotify Technology SA                                  | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |      2699 | NS      | $1768708.68   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp. (The)                          | Allstate Corp. (The)                                   | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     28124 | NS      | $5386308.48   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                             | Johnson & Johnson                                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     26442 | NS      | $4994100.54   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                             | Merck & Co., Inc.                                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     23948 | NS      | $2059049.04   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                              | Mastercard, Inc., Class A                              | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     17394 | NS      | $9601314.06   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                                    | AT&T, Inc.                                             | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     49238 | NS      | $1218640.50   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                                   | Tesla, Inc.                                            | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     38032 | NS      | $17363889.92  | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                      | U.S. Treasury Note                                     | CUSIP: 91282CCB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    138000 | PA      | $138000.00    | 0.02%             | 2031-05-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Assured Guaranty Ltd.                         | Assured Guaranty Ltd.                                  | CUSIP: N/A<br>LEI: 549300BBOQUJEPH87M14       | Long             | EC               | CORP              | BM        |      6751 | NS      | $543995.58    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co.                        | Becton Dickinson & Co.                                 | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     16722 | NS      | $2988388.62   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies plc                        | Trane Technologies plc                                 | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |       379 | NS      | $170038.35    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology, Inc.                      | Marvell Technology, Inc.                               | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98389 | NS      | $9222984.86   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-47920.86    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| US Foods Holding Corp.                        | US Foods Holding Corp.                                 | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |      6919 | NS      | $502457.78    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials, Inc.             | Solstice Advanced Materials, Inc.                      | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |      5990 | NS      | $269980.57    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential plc                                | Prudential plc                                         | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |    148351 | NS      | $2063279.13   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Progressive Corp. (The)                       | Progressive Corp. (The)                                | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      8270 | NS      | $1703620.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore plc                                  | Glencore plc                                           | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |    487577 | NS      | $2335771.50   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2144.39      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                        | Home Depot, Inc. (The)                                 | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     11205 | NS      | $4253305.95   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                     | Airbus SE                                              | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |     13032 | NS      | $3213315.42   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                      | U.S. Treasury Bills                                    | CUSIP: 912797QP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    700000 | PA      | $699778.25    | 0.10%             | 2025-11-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AXA SA                                        | AXA SA                                                 | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |     13042 | NS      | $565871.66    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH plc                                       | CRH plc                                                | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |      1131 | NS      | $134702.10    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $11175.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                    | Corebridge Financial, Inc.                             | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |     30122 | NS      | $980772.32    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies plc                        | Trane Technologies plc                                 | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |      5984 | NS      | $2684721.60   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp.                          | Barrick Mining Corp.                                   | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     47312 | NS      | $1551833.60   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)      | PNC Financial Services Group, Inc. (The)               | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      5899 | NS      | $1076862.45   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1730.93     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chipotle Mexican Grill, Inc.                  | Chipotle Mexican Grill, Inc., Class A                  | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33966 | NS      | $1076382.54   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Dollar                               | Canadian Dollar                                        | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | CA        |        -0 | OU      | $-0.01        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX Corp.                                  | ROBLOX Corp., Class A                                  | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23817 | NS      | $2708469.24   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories, Inc.                    | Bio-Rad Laboratories, Inc., Class A                    | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |     10580 | NS      | $3380839.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                            | Southern Co. (The)                                     | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     17749 | NS      | $1669115.96   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-740.40      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                               | Citigroup, Inc.                                        | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     78847 | NS      | $7981681.81   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BP plc                                        | BP plc                                                 | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    222226 | NS      | $1301980.15   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2915.47      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cenovus Energy, Inc.                          | Cenovus Energy, Inc.                                   | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |    184554 | NS      | $3118555.35   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva, Inc.                                 | Corteva, Inc.                                          | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     32321 | NS      | $1985802.24   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp.-Liberty Formula One Corp. | Liberty Media Corp.-Liberty Formula One Corp., Class C | CUSIP: 531229755<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14230 | NS      | $1420865.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq, Inc.                                  | Nasdaq, Inc.                                           | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     15919 | NS      | $1360915.31   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Levi Strauss & Co.                            | Levi Strauss & Co., Class A                            | CUSIP: 52736R102<br>LEI: MB0UERO0RDFKU8258G77 | Long             | EC               | CORP              | US        |     37917 | NS      | $768956.76    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp.                          | Otis Worldwide Corp.                                   | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     46224 | NS      | $4287738.24   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp.                                 | Fortive Corp.                                          | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     55218 | NS      | $2779674.12   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment, Inc.               | Live Nation Entertainment, Inc.                        | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |     22643 | NS      | $3385807.79   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                                | Broadcom, Inc.                                         | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     69305 | NS      | $25617207.15  | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp.                                | McKesson Corp.                                         | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      5934 | NS      | $4814491.56   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                           | Abbott Laboratories                                    | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     14704 | NS      | $1817708.48   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                          | Meta Platforms, Inc., Class A                          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     26281 | NS      | $17039286.35  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                                 | Medtronic plc                                          | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     12974 | NS      | $1176741.80   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.                   | Capital One Financial Corp.                            | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     30075 | NS      | $6616199.25   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp.                        | Costco Wholesale Corp.                                 | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      3070 | NS      | $2798151.50   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon plc                                       | Aon plc, Class A                                       | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Long             | EC               | CORP              | IE        |      5077 | NS      | $1729632.36   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International, Inc.             | Philip Morris International, Inc.                      | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     25323 | NS      | $3654868.59   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies, Inc.                   | Palantir Technologies, Inc., Class A                   | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     46220 | NS      | $9265723.40   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper, Inc.                        | Keurig Dr Pepper, Inc.                                 | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     44185 | NS      | $1200064.60   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                       | Arch Capital Group Ltd.                                | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | BM        |     21755 | NS      | $1877674.05   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy, Inc.                             | Xcel Energy, Inc.                                      | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     14417 | NS      | $1170227.89   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $42388.96     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cardinal Health, Inc.                         | Cardinal Health, Inc.                                  | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      4682 | NS      | $893185.14    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $73.41        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                        | Antero Resources Corp.                                 | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     29129 | NS      | $900377.39    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                 | Netflix, Inc.                                          | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      4123 | NS      | $4613059.78   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                     | PPL Corp.                                              | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     48382 | NS      | $1766910.64   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom, Inc.                                  | Dexcom, Inc.                                           | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     12385 | NS      | $721054.70    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                           | Cisco Systems, Inc.                                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    184761 | NS      | $13507876.71  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                               | Starbucks Corp.                                        | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     11404 | NS      | $922241.48    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo, Inc.                                 | PepsiCo, Inc.                                          | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      8511 | NS      | $1243371.99   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                          | JPMorgan Chase & Co.                                   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     21139 | NS      | $6576765.68   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4997.82      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Berkshire Hathaway, Inc.                      | Berkshire Hathaway, Inc., Class B                      | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     14856 | NS      | $7094334.24   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-37.99       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PPG Industries, Inc.                          | PPG Industries, Inc.                                   | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     15170 | NS      | $1482867.50   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4395.29      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Micro Devices, Inc.                  | Advanced Micro Devices, Inc.                           | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     26407 | NS      | $6763360.84   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management, Inc.                | Apollo Global Management, Inc.                         | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |     23260 | NS      | $2891450.60   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.                    | Constellation Energy Corp.                             | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      3361 | NS      | $1267097.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1093.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.                  | Vertex Pharmaceuticals, Inc.                           | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1811 | NS      | $770707.27    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                          | Analog Devices, Inc.                                   | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     30041 | NS      | $7033499.33   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $49766.66     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TPG, Inc.                                     | TPG, Inc., Class A                                     | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |     52857 | NS      | $2909249.28   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group (The)                             | Cigna Group (The)                                      | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      3683 | NS      | $900162.03    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                                  | Target Corp.                                           | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     13462 | NS      | $1248196.64   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                | ConocoPhillips                                         | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     35718 | NS      | $3173901.48   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp. (The)                    | Charles Schwab Corp. (The)                             | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     39616 | NS      | $3744504.32   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell plc                                     | Shell plc                                              | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |     83771 | NS      | $3140526.66   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Pure Storage, Inc.                            | Pure Storage, Inc., Class A                            | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |    104123 | NS      | $10276940.10  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $330.66       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ingersoll Rand, Inc.                          | Ingersoll Rand, Inc.                                   | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |     26572 | NS      | $2028240.76   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                                  | Ameren Corp.                                           | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     29095 | NS      | $2968271.90   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co. (The)                           | Coca-Cola Co. (The)                                    | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     95516 | NS      | $6581052.40   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours, Inc.                       | DuPont de Nemours, Inc.                                | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     34264 | NS      | $2797655.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos., Inc. (The)                          | TJX Cos., Inc. (The)                                   | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     20871 | NS      | $2924861.94   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower, Inc.                               | Welltower, Inc.                                        | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     18429 | NS      | $3336386.16   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp.                                | AppLovin Corp., Class A                                | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      2753 | NS      | $1754569.49   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co. (The)                    | Procter & Gamble Co. (The)                             | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     29227 | NS      | $4394863.99   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Funds Trust                            | Putnam Short Term Investment Fund, Class P             | CUSIP: 74676P664<br>LEI: 549300S9JYWEMKQCLW53 | Long             |  | RF                | US        |  10259323 | NS      | $10259322.90  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co. (The)                         | Walt Disney Co. (The)                                  | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     55609 | NS      | $6262685.58   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-810.92      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Humana, Inc.                                  | Humana, Inc.                                           | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       639 | NS      | $177763.41    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | S&P 500 E-Mini Index                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $34187.95     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                               | Microsoft Corp.                                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     94495 | NS      | $48930455.95  | 7.33%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1875.89      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Prologis, Inc.                                | Prologis, Inc.                                         | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     24195 | NS      | $3002357.55   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE, Inc.                                    | NIKE, Inc., Class B                                    | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      3321 | NS      | $214503.39    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2059.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Waste Connections, Inc.                       | Waste Connections, Inc.                                | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      8689 | NS      | $1456971.52   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International, Inc.                 | Honeywell International, Inc.                          | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     23961 | NS      | $4824068.13   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $706.72       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RTX Corp.                                     | RTX Corp.                                              | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     23422 | NS      | $4180827.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $26772.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA Healthcare, Inc.                          | HCA Healthcare, Inc.                                   | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      2086 | NS      | $958892.48    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                    | Unum Group                                             | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |      9073 | NS      | $666139.66    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical, Inc.                      | Intuitive Surgical, Inc.                               | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      4816 | NS      | $2573092.48   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.                  | Mondelez International, Inc., Class A                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     20862 | NS      | $1198730.52   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie, Inc.                                  | AbbVie, Inc.                                           | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     24460 | NS      | $5333258.40   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp.                           | Union Pacific Corp.                                    | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     13800 | NS      | $3041106.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva, Inc.                                | Innoviva, Inc.                                         | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     59700 | NS      | $1086540.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.               | Regeneron Pharmaceuticals, Inc.                        | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      6137 | NS      | $4000096.60   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                          | United Rentals, Inc.                                   | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      3096 | NS      | $2697173.28   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1763.15      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-199.72      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Copart, Inc.                                  | Copart, Inc.                                           | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     27374 | NS      | $1177355.74   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group, Inc.            | American International Group, Inc.                     | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     46967 | NS      | $3708514.32   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                         | Gilead Sciences, Inc.                                  | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     17143 | NS      | $2053559.97   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $14.38        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                      | UnitedHealth Group, Inc.                               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     15202 | NS      | $5192395.12   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co.                            | General Motors Co.                                     | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     24053 | NS      | $1661821.77   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                | Thermo Fisher Scientific, Inc.                         | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     14300 | NS      | $8113677.00   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp.                                   | FedEx Corp.                                            | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     22301 | NS      | $5660439.82   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Won                                           | Won                                                    | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | KR        |        -4 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa, Inc.                                    | Visa, Inc., Class A                                    | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     14256 | NS      | $4857589.44   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                              | McDonald's Corp.                                       | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      7384 | NS      | $2203607.12   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                                 | On Holding AG, Class A                                 | CUSIP: N/A<br>LEI: 506700FB3467B9W95526       | Long             | EC               | CORP              | CH        |     27267 | NS      | $1012969.05   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                          | EURO                                                   | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | XX        |        -0 | OU      | $-0.03        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                  | Charter Communications, Inc., Class A                  | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      3774 | NS      | $882512.16    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp.                              | CVS Health Corp.                                       | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     17553 | NS      | $1371766.95   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $51796.16     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| QUALCOMM, Inc.                                | QUALCOMM, Inc.                                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      3182 | NS      | $575623.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $20534.84     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                              | NRG Energy, Inc.                                       | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     19656 | NS      | $3378080.16   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast, Inc.                                   | Toast, Inc., Class A                                   | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     27513 | NS      | $994319.82    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Pound Sterling                                | Pound Sterling                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |         0 | OU      | $0.20         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp.                          | American Tower Corp.                                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     36490 | NS      | $6530980.20   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora, Inc.                                 | Cencora, Inc.                                          | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       952 | NS      | $321595.12    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy, Inc.                      | CenterPoint Energy, Inc.                               | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |     15243 | NS      | $582892.32    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Forward Foreign Currency Contract                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1625.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cintas Corp.                                  | Cintas Corp.                                           | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5636 | NS      | $1032909.72   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde plc                                     | Linde plc                                              | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |      1031 | NS      | $431267.30    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** Putnam Investment Funds

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer