# EDGAR Filing Document

**Accession Number:** 0001295293
**File Stem:** 0000869392-23-000115
**Filing Date:** 2023-1
**Character Count:** 23587
**Document Hash:** 365a45cd9195c87e71adcf3876650946
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869392-23-000115.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0000869392-23-000115

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Putnam Target Date Funds
- **CENTRAL INDEX KEY:** 0001295293
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21598
- **FILM NUMBER:** 23556679

**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 RetirementReady Funds
- **DATE OF NAME CHANGE:** 20040624

## Series and Classes Contracts Data

### Putnam Retirement Advantage 2060 Fund (Series ID: S000067472)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000216945 | Class A Shares  |  |
| C000216947 | Class C Shares  |  |
| C000216948 | Class R Shares  |  |
| C000216949 | Class Y Shares  |  |
| C000216950 | Class R6 Shares |  |
| C000222002 | Class R3 Shares |  |
| C000222003 | Class R5 Shares |  |
| C000222004 | Class R4 Shares |  |

## Nport-Ex

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| | | | |
|:---|:---|:---|:---|
|  | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** |
|  | **The fund's portfolio** | **The fund's portfolio** | **The fund's portfolio** |
|  | **11/30/22 (Unaudited)** | **11/30/22 (Unaudited)** | **11/30/22 (Unaudited)** |
|  |  | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Asset Allocation Funds (99.5%)\*** | **Asset Allocation Funds (99.5%)\*** | **Asset Allocation Funds (99.5%)\*** |
|  | Putnam Dynamic Asset Allocation Equity Fund Class P***<sup>(AFF)</sup>*** | 83814 | $1084547 |
|  | Putnam Dynamic Asset Allocation Growth Fund Class P***<sup>(AFF)</sup>*** | 24857 | 418836 |
|  | **Total Asset Allocation Funds (cost $1,642,212)** |  | **$1503383** |
|  | **Fixed Income Funds (0.5%)\*** | **Fixed Income Funds (0.5%)\*** | **Fixed Income Funds (0.5%)\*** |
|  | Putnam Short Term Investment Fund Class G***<sup>(AFF)</sup>*** | 7090 | $7090 |
|  | **Total Fixed Income Funds (cost $7,090)** |  | **$7090** |
|  | **Total Investments (cost $1,649,302)** |  | **$1510473** |
| \* | Percentages indicated are based on net assets of $1,510,743. | Percentages indicated are based on net assets of $1,510,743. | Percentages indicated are based on net assets of $1,510,743. |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** | **Notes to the fund's portfolio** |  |  |
|  | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from September 1, 2022 through November 30, 2022 (the reporting period). Within the following notes to the portfolio, references to "ASC 820" represent Accounting Standards Codification ASC 820 *Fair Value Measurements and Disclosures*. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from September 1, 2022 through November 30, 2022 (the reporting period). Within the following notes to the portfolio, references to "ASC 820" represent Accounting Standards Codification ASC 820 *Fair Value Measurements and Disclosures*. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from September 1, 2022 through November 30, 2022 (the reporting period). Within the following notes to the portfolio, references to "ASC 820" represent Accounting Standards Codification ASC 820 *Fair Value Measurements and Disclosures*. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from September 1, 2022 through November 30, 2022 (the reporting period). Within the following notes to the portfolio, references to "ASC 820" represent Accounting Standards Codification ASC 820 *Fair Value Measurements and Disclosures*. | Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from September 1, 2022 through November 30, 2022 (the reporting period). Within the following notes to the portfolio, references to "ASC 820" represent Accounting Standards Codification ASC 820 *Fair Value Measurements and Disclosures*. |
| ***<sup>(AFF)</sup>*** | Affiliated Company. | Affiliated Company. | Affiliated Company. | Affiliated Company. | Affiliated Company. |
|  | **Security valuation:** The price of the fund's shares is based on its net asset value (NAV), which is in turn based on the NAVs of the underlying Putnam Funds in which it invests, which are classified as Level 1 or Level 2 securities under Accounting Standards Codification *Fair Value Measurements and Disclosures* (ASC 820). The NAVs of the underlying Putnam Funds are determined based on the policies contained in each underlying Putnam Fund's financial statements. The NAV per share of each class equals the total value of its assets, less its liabilities, divided by the number of its outstanding shares. Shares are only valued as of the close of regular trading on the New York Stock Exchange each day the exchange is open. | **Security valuation:** The price of the fund's shares is based on its net asset value (NAV), which is in turn based on the NAVs of the underlying Putnam Funds in which it invests, which are classified as Level 1 or Level 2 securities under Accounting Standards Codification *Fair Value Measurements and Disclosures* (ASC 820). The NAVs of the underlying Putnam Funds are determined based on the policies contained in each underlying Putnam Fund's financial statements. The NAV per share of each class equals the total value of its assets, less its liabilities, divided by the number of its outstanding shares. Shares are only valued as of the close of regular trading on the New York Stock Exchange each day the exchange is open. | **Security valuation:** The price of the fund's shares is based on its net asset value (NAV), which is in turn based on the NAVs of the underlying Putnam Funds in which it invests, which are classified as Level 1 or Level 2 securities under Accounting Standards Codification *Fair Value Measurements and Disclosures* (ASC 820). The NAVs of the underlying Putnam Funds are determined based on the policies contained in each underlying Putnam Fund's financial statements. The NAV per share of each class equals the total value of its assets, less its liabilities, divided by the number of its outstanding shares. Shares are only valued as of the close of regular trading on the New York Stock Exchange each day the exchange is open. | **Security valuation:** The price of the fund's shares is based on its net asset value (NAV), which is in turn based on the NAVs of the underlying Putnam Funds in which it invests, which are classified as Level 1 or Level 2 securities under Accounting Standards Codification *Fair Value Measurements and Disclosures* (ASC 820). The NAVs of the underlying Putnam Funds are determined based on the policies contained in each underlying Putnam Fund's financial statements. The NAV per share of each class equals the total value of its assets, less its liabilities, divided by the number of its outstanding shares. Shares are only valued as of the close of regular trading on the New York Stock Exchange each day the exchange is open. | **Security valuation:** The price of the fund's shares is based on its net asset value (NAV), which is in turn based on the NAVs of the underlying Putnam Funds in which it invests, which are classified as Level 1 or Level 2 securities under Accounting Standards Codification *Fair Value Measurements and Disclosures* (ASC 820). The NAVs of the underlying Putnam Funds are determined based on the policies contained in each underlying Putnam Fund's financial statements. The NAV per share of each class equals the total value of its assets, less its liabilities, divided by the number of its outstanding shares. Shares are only valued as of the close of regular trading on the New York Stock Exchange each day the exchange is open. |
|  | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: | ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows: |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1:** Valuations based on quoted prices for identical securities in active markets. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2:** Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3:** Valuations based on inputs that are unobservable and significant to the fair value measurement. |
|  | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: | The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period: |
|  |  | **Valuation inputs** | **Valuation inputs** | **Valuation inputs** |  |
|  | **Investments in securities:** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Putnam Retirement Advantage 2060 Fund | &nbsp;&nbsp;&nbsp;&nbsp;$418836 | &nbsp;&nbsp;&nbsp;&nbsp;$1091637 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;**$1510473** |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated transactions** | **Affiliated transactions** | **Affiliated transactions** | **Affiliated transactions** | **Affiliated transactions** | **Affiliated transactions** | **Affiliated transactions** | **Affiliated transactions** | **Affiliated transactions** |  |
| Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: | Transactions during the reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows: |
| **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** | **Putnam Retirement Advantage 2060 Fund** |
| **Affiliates** | **Fair value as of 8/31/22** | **Purchase cost** | **Sale proceeds** | **Investment income** | **Capital gain distributions** | **Realized gain (loss)** | **Change in unrealized appreciation (depreciation)** | **Shares outstanding as of 11/30/22** | **Fair value as of 11/30/22** |
| Putnam Dynamic Asset Allocation Equity Fund Class P | $901989 | $155971 | $21302 | $— | $— | $(2363) | $50252 | 83814 | $1084547 |
| Putnam Dynamic Asset Allocation Growth Fund Class P | 336650 | 71060 | 4440 |  |  | (452) | 16018 | 24857 | 418836 |
| Putnam Short Term Investment Fund Class G | 6203 | 1669 | 782 | 50 |  |  |  | 7090 | 7090 |
| **Totals** | **$1244842** | **$228700** | **$26524** | **$50** | **$—** | **$(2815)** | **$66270** |  | **$1510473** |
| For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com |

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## 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 Target Date Funds

- **b. Investment Company Act file number:** 811-21598

- **c. CIK number of Registrant:** 0001295293

- **d. LEI of Registrant:** 5493005X9RIMZKJNE675

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

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

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

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

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

- **a. Name of Series:** Putnam Retirement Advantage 2060 Fund

- **b. EDGAR series identifier (if any):** S000067472

- **c. LEI of Series:** 5493002K9DZ8Q68EZK16

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1511267.34

**Total Liabilities:** $2890.44

**Net Assets:** $1508376.89

**Cash Not Reported:** $74.17

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222003 | 6.46%                | 6.78%                | -8.42%               |
| Class ID C000222004 | 6.47%                | 6.80%                | -8.54%               |
| Class ID C000216950 | 6.57%                | 6.78%                | -8.52%               |
| Class ID C000222002 | 6.49%                | 6.69%                | -8.54%               |
| Class ID C000216949 | 6.46%                | 6.78%                | -8.52%               |
| Class ID C000216948 | 6.50%                | 6.71%                | -8.56%               |
| Class ID C000216945 | 6.48%                | 6.81%                | -8.54%               |
| Class ID C000216947 | 6.41%                | 6.72%                | -8.58%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-70.35                  | $89620.54                                  |
| Month 2  | $-1855.91                | $84763.80                                  |
| Month 3  | $-888.89                 | $-108114.18                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PUTNAM DYNAMIC ASSET ALLOCATION GROWTH FUND | MUTUAL FUND | CUSIP: N/A<br>LEI: 54930008K7GIJC4BGQ63       | Long             | EC               | RF                | US        |     24817 | NS      | $418168.94    | 27.72%            |  |  |  | No            |                  1 | On Loan: No      |
| PUTNAM SHORT TERM INVESTMENT FUND           | MUTUAL FUND | CUSIP: 74676A451<br>LEI: 5493003MK0Q7JP8CPP42 | Long             | EC               | RF                | US        |      7057 | NS      | $7056.91      | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| PUTNAM DYNAMIC ASSET ALLOCATION EQUITY FUND | MUTUAL FUND | CUSIP: N/A<br>LEI: 217HJO8KUHO2Y4P04346       | Long             | EC               | RF                | US        |     83683 | NS      | $1082860.74   | 71.79%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-26

**Name of Applicant:** Putnam Investments Inc

**Signature:** Janet C. Smith

**Name of Signer:** NPORT

**Title:** Principal Financial Officer