# EDGAR Filing Document

**Accession Number:** 0000932101
**File Stem:** 0002071691-25-001635
**Filing Date:** 2025-9
**Character Count:** 58675
**Document Hash:** c2f5211252da8c7e286e428da3b37044
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-001635.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0002071691-25-001635

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**PERIOD START**: 20250731

**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:** 251333229

**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 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:** 2025-07-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $609890096.13

**Total Liabilities:** $4069982.72

**Net Assets:** $605820113.41

**Cash Not Reported:** $130304.56

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010781 | 6.85%                | 5.63%                | 2.41%                |
| Class ID C000158892 | 6.89%                | 5.68%                | 2.45%                |
| Class ID C000010786 | 6.89%                | 5.66%                | 2.45%                |
| Class ID C000010783 | 6.78%                | 5.58%                | 2.35%                |
| Class ID C000010785 | 6.82%                | 5.62%                | 2.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1763919.86              | $33881607.51                               |
| Month 2  | $8295577.48              | $23093229.33                               |
| Month 3  | $4373489.52              | $9435227.57                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Oracle Corp.                             | Oracle Corp.                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     24899 | NS      | $6318619.23   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                      | Southwest Airlines Co.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    861160 | NC      | $11333.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock, Inc.                          | BlackRock, Inc.                            | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      3232 | NS      | $3574624.32   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                        | Exxon Mobil Corp.                          | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     87317 | NS      | $9748069.88   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                           | Alphabet, Inc., Class A                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    108424 | NS      | $20806565.60  | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart, Inc.                            | Walmart, Inc.                              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     75003 | NS      | $7348793.94   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group, Inc.                          | CME Group, Inc.                            | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      6544 | NS      | $1821064.32   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH plc                                  | CRH plc                                    | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |     39835 | NS      | $3802250.75   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                             | NVIDIA Corp.                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    265140 | NS      | $47160451.80  | 7.78%             |  |  |  | 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      | $2263.35      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                 | U.S. Treasury Bills                        | CUSIP: 912797QS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    100000 | PA      | $98546.53     | 0.02%             | 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        |    131939 | NS      | $30888239.29  | 5.10%             |  |  |  | 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      | $34063.79     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                   | Northrop Grumman Corp.                     | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      5423 | NS      | $3126956.03   | 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      | $10663.32     | 0.00%             |  |  |  | No            |                  2 | 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      | $1050316.20   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                          | Eli Lilly & Co.                            | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     12822 | NS      | $9489177.54   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp.                            | Danaher Corp.                              | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      5644 | NS      | $1112771.04   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp.                  | Boston Scientific Corp.                    | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     28161 | NS      | $2954652.12   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova, Inc.                         | GE Vernova, Inc.                           | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      4555 | NS      | $3007620.95   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                              | Apple, Inc.                                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    136996 | NS      | $28436259.72  | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy, Inc.                     | NextEra Energy, Inc.                       | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     40417 | NS      | $2872032.02   | 0.47%             |  |  |  | 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      | $18986.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Southwest Airlines Co.                   | Southwest Airlines Co.                     | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     45133 | NS      | $1395963.69   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                    | Spotify Technology SA                      | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |      2792 | NS      | $1749299.68   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp. (The)                     | Allstate Corp. (The)                       | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     29460 | NS      | $5987745.00   | 0.99%             |  |  |  | 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      | $-69724.36    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Johnson & Johnson                        | Johnson & Johnson                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     18478 | NS      | $3044065.72   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                        | Merck & Co., Inc.                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     29210 | NS      | $2281885.20   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                         | Mastercard, Inc., Class A                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     17959 | NS      | $10173234.73  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                               | AT&T, Inc.                                 | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    139327 | NS      | $3818953.07   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                              | Tesla, Inc.                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     36799 | NS      | $11344027.73  | 1.87%             |  |  |  | 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      | $35590.82     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Lululemon Athletica, Inc.                | Lululemon Athletica, Inc.                  | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |      4570 | NS      | $916422.10    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Assured Guaranty Ltd.                    | Assured Guaranty Ltd.                      | CUSIP: N/A<br>LEI: 549300BBOQUJEPH87M14       | Long             | EC               | CORP              | BM        |      6751 | NS      | $570999.58    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co.                   | Becton Dickinson & Co.                     | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     10353 | NS      | $1845422.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies plc                   | Trane Technologies plc                     | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |       379 | NS      | $166032.32    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology, Inc.                 | Marvell Technology, Inc.                   | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    111991 | NS      | $9000716.67   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp.                   | US Foods Holding Corp.                     | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |      6919 | NS      | $576560.27    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential plc                           | Prudential plc                             | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |    147536 | NS      | $1871669.24   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Progressive Corp. (The)                  | Progressive Corp. (The)                    | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     10902 | NS      | $2638720.08   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore plc                             | Glencore plc                               | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |    523087 | NS      | $2099318.47   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                   | Home Depot, Inc. (The)                     | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      8124 | NS      | $2985651.24   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                | Airbus SE                                  | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |     13032 | NS      | $2620150.77   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                 | U.S. Treasury Bills                        | CUSIP: 912797QP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    700000 | PA      | $692066.66    | 0.11%             | 2025-11-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CRH plc                                  | CRH plc                                    | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |      1131 | NS      | $107953.95    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial, Inc.               | Corebridge Financial, Inc.                 | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |     29881 | NS      | $1062568.36   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies plc                   | Trane Technologies plc                     | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |      5984 | NS      | $2621470.72   | 0.43%             |  |  |  | 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      | $1122402.73   | 0.19%             |  |  |  | No            |                  1 | 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      | $1456462.08   | 0.24%             |  |  |  | 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      | $2095.91      | 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      | $62898.87     | 0.01%             |  |  |  | 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      | $50.81        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bio-Rad Laboratories, Inc.               | Bio-Rad Laboratories, Inc., Class A        | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |      9477 | NS      | $2292960.15   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                       | Southern Co. (The)                         | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     19366 | NS      | $1829699.68   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                          | Citigroup, Inc.                            | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     78847 | NS      | $7387963.90   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BP plc                                   | BP plc                                     | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    234502 | NS      | $1256997.17   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Cenovus Energy, Inc.                     | Cenovus Energy, Inc.                       | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |    201787 | NS      | $3071368.24   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva, Inc.                            | Corteva, Inc.                              | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     32321 | NS      | $2331313.73   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq, Inc.                             | Nasdaq, Inc.                               | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     10664 | NS      | $1026090.08   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                      | Seagate Technology ULC                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        | -14288940 | NC      | $-3198764.08  | -0.53%            |  |  |  | No            |                  2 | On Loan: No      |
| Levi Strauss & Co.                       | Levi Strauss & Co., Class A                | CUSIP: 52736R102<br>LEI: MB0UERO0RDFKU8258G77 | Long             | EC               | CORP              | US        |     65645 | NS      | $1292550.05   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp.                     | Otis Worldwide Corp.                       | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     40733 | NS      | $3490410.77   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp.                            | Fortive Corp.                              | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     55218 | NS      | $2646598.74   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment, Inc.          | Live Nation Entertainment, Inc.            | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |     26507 | NS      | $3915083.90   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                           | Broadcom, Inc.                             | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     71131 | NS      | $20891174.70  | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp.                           | McKesson Corp.                             | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      5873 | NS      | $4073160.42   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                      | Abbott Laboratories                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     19899 | NS      | $2511054.81   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                     | Meta Platforms, Inc., Class A              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     27928 | NS      | $21600632.32  | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                            | Medtronic plc                              | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     16452 | NS      | $1484628.48   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.              | Capital One Financial Corp.                | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     30075 | NS      | $6466125.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp.                   | Costco Wholesale Corp.                     | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      3070 | NS      | $2884694.80   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International, Inc.        | Philip Morris International, Inc.          | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     25323 | NS      | $4154238.15   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson plc                 | Willis Towers Watson plc                   | CUSIP: N/A<br>LEI: 549300WHC56FF48KL350       | Long             | EC               | CORP              | IE        |      3891 | NS      | $1228816.71   | 0.20%             |  |  |  | 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      | $2885.43      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                      | Seagate Technology ULC                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |  13230500 | NC      | $3993952.77   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Palantir Technologies, Inc.              | Palantir Technologies, Inc., Class A       | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     45262 | NS      | $7167237.70   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper, Inc.                   | Keurig Dr Pepper, Inc.                     | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     44185 | NS      | $1442640.25   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                  | Arch Capital Group Ltd.                    | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | BM        |     21087 | NS      | $1814747.22   | 0.30%             |  |  |  | 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      | $16463.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                   | Antero Resources Corp.                     | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     24352 | NS      | $850615.36    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                            | Netflix, Inc.                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      3304 | NS      | $3830657.60   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                | PPL Corp.                                  | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     51101 | NS      | $1823794.69   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom, Inc.                             | Dexcom, Inc.                               | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      5736 | NS      | $463296.72    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                      | Cisco Systems, Inc.                        | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    173788 | NS      | $11831487.04  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                          | Starbucks Corp.                            | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      8374 | NS      | $746625.84    | 0.12%             |  |  |  | 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      | $1075.84      | 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      | $1466.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                            | PepsiCo, Inc.                              | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      6403 | NS      | $883101.76    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                     | JPMorgan Chase & Co.                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     21139 | NS      | $6262217.36   | 1.03%             |  |  |  | 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      | $-3392.07     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Berkshire Hathaway, Inc.                 | Berkshire Hathaway, Inc., Class B          | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     14901 | NS      | $7031483.88   | 1.16%             |  |  |  | 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      | $8246.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PPG Industries, Inc.                     | PPG Industries, Inc.                       | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     15170 | NS      | $1600435.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                 | U.S. Treasury Bills                        | CUSIP: 912797MS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    500000 | PA      | $496345.38    | 0.08%             | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Apollo Global Management, Inc.           | Apollo Global Management, Inc.             | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |     23260 | NS      | $3380143.20   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.               | Constellation Energy Corp.                 | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      2431 | NS      | $845599.04    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.             | Vertex Pharmaceuticals, Inc.               | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      3249 | NS      | $1484370.63   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                     | Analog Devices, Inc.                       | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     40096 | NS      | $9006764.48   | 1.49%             |  |  |  | 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      | $3058.11      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TPG, Inc.                                | TPG, Inc., Class A                         | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |     52857 | NS      | $3016548.99   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group (The)                        | Cigna Group (The)                          | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      3683 | NS      | $984760.54    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings plc          | Seagate Technology Holdings plc            | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | IE        |     40160 | NS      | $6305521.60   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                             | Target Corp.                               | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     13462 | NS      | $1352931.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                           | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     36800 | NS      | $3508512.00   | 0.58%             |  |  |  | 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      | $18119.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)               | Charles Schwab Corp. (The)                 | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     34353 | NS      | $3357318.69   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell plc                                | Shell plc                                  | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |     89244 | NS      | $3206815.88   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Corp.                             | Vistra Corp.                               | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      2127 | NS      | $443564.58    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand, Inc.                     | Ingersoll Rand, Inc.                       | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |     20501 | NS      | $1734999.63   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                             | Ameren Corp.                               | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     30065 | NS      | $3040473.45   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co. (The)                      | Coca-Cola Co. (The)                        | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     95516 | NS      | $6484581.24   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours, Inc.                  | DuPont de Nemours, Inc.                    | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     34264 | NS      | $2463581.60   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos., Inc. (The)                     | TJX Cos., Inc. (The)                       | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     20871 | NS      | $2599065.63   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower, Inc.                          | Welltower, Inc.                            | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     20021 | NS      | $3304866.47   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp.                           | AppLovin Corp., Class A                    | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      2848 | NS      | $1112713.60   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co. (The)               | Procter & Gamble Co. (The)                 | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     29227 | NS      | $4397786.69   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Funds Trust                       | Putnam Short Term Investment Fund, Class P | CUSIP: 74676P664<br>LEI: 549300S9JYWEMKQCLW53 | Long             |  | RF                | US        |   3118374 | NS      | $3118373.66   | 0.51%             |  |  |  | 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      | $1280.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                    | Walt Disney Co. (The)                      | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     52217 | NS      | $6219566.87   | 1.03%             |  |  |  | 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      | $7781.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp.                          | Microsoft Corp.                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     95547 | NS      | $50974324.50  | 8.41%             |  |  |  | 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      | $51295.89     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Prologis, Inc.                           | Prologis, Inc.                             | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     22689 | NS      | $2422731.42   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE, Inc.                               | NIKE, Inc., Class B                        | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      3321 | NS      | $248045.49    | 0.04%             |  |  |  | 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      | $1505.64      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Waste Connections, Inc.                  | Waste Connections, Inc.                    | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      8689 | NS      | $1621975.63   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International, Inc.            | Honeywell International, Inc.              | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     23961 | NS      | $5327728.35   | 0.88%             |  |  |  | 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      | $1308.07      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RTX Corp.                                | RTX Corp.                                  | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     23422 | NS      | $3690604.54   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare, Inc.                     | HCA Healthcare, Inc.                       | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      1792 | NS      | $634350.08    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                               | Unum Group                                 | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     16549 | NS      | $1188383.69   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical, Inc.                 | Intuitive Surgical, Inc.                   | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      5033 | NS      | $2421325.97   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.             | Mondelez International, Inc., Class A      | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     20862 | NS      | $1349562.78   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie, Inc.                             | AbbVie, Inc.                               | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     21147 | NS      | $3997205.94   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp.                      | Union Pacific Corp.                        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     13800 | NS      | $3063186.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva, Inc.                           | Innoviva, Inc.                             | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     57028 | NS      | $1036198.76   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.          | Regeneron Pharmaceuticals, Inc.            | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      6465 | NS      | $3526398.90   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                     | United Rentals, Inc.                       | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      4095 | NS      | $3615639.30   | 0.60%             |  |  |  | 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      | $17339.14     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Copart, Inc.                             | Copart, Inc.                               | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     27374 | NS      | $1240863.42   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group, Inc.       | American International Group, Inc.         | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     35949 | NS      | $2790720.87   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                    | Gilead Sciences, Inc.                      | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     15404 | NS      | $1729715.16   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group, Inc.                 | UnitedHealth Group, Inc.                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     13305 | NS      | $3320395.80   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co.                       | General Motors Co.                         | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     24053 | NS      | $1282987.02   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific, Inc.           | Thermo Fisher Scientific, Inc.             | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     14300 | NS      | $6687824.00   | 1.10%             |  |  |  | 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      | $29122.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FedEx Corp.                              | FedEx Corp.                                | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     23122 | NS      | $5167535.78   | 0.85%             |  |  |  | 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      | $-4917.79     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Visa, Inc.                               | Visa, Inc., Class A                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     13030 | NS      | $4501474.10   | 0.74%             |  |  |  | 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      | $-2170.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| McDonald's Corp.                         | McDonald's Corp.                           | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      7384 | NS      | $2215716.88   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                            | On Holding AG, Class A                     | CUSIP: N/A<br>LEI: 506700FB3467B9W95526       | Long             | EC               | CORP              | CH        |     22608 | NS      | $1098070.56   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.             | Charter Communications, Inc., Class A      | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      3905 | NS      | $1051850.80   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp.                         | CVS Health Corp.                           | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     24406 | NS      | $1515612.60   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM, Inc.                           | QUALCOMM, Inc.                             | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     12604 | NS      | $1849763.04   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                         | NRG Energy, Inc.                           | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     17682 | NS      | $2956430.40   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast, Inc.                              | Toast, Inc., Class A                       | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     28469 | NS      | $1390425.96   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp.                     | American Tower Corp.                       | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     31103 | NS      | $6481554.17   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd.                  | Agnico Eagle Mines Ltd.                    | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      9034 | NS      | $1121491.30   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora, Inc.                            | Cencora, Inc.                              | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      2798 | NS      | $800451.84    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy, Inc.                 | CenterPoint Energy, Inc.                   | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |     34374 | NS      | $1334398.68   | 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      | $-699.46      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cintas Corp.                             | Cintas Corp.                               | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5636 | NS      | $1254291.80   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde plc                                | Linde plc                                  | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |      1365 | NS      | $628254.90    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** Putnam Investment Funds

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer