# EDGAR Filing Document

**Accession Number:** 0000822671
**File Stem:** 0001655589-26-000414
**Filing Date:** 2026-4
**Character Count:** 5627
**Document Hash:** 4478d81fbba08caac1d2170d2269bd4f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001655589-26-000414.hdr.sgml**: 20260417

**ACCESSION NUMBER**: 0001655589-26-000414

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260417

**DATE AS OF CHANGE**: 20260417

**EFFECTIVENESS DATE**: 20260417

**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:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-56339
- **FILM NUMBER:** 26869620

**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
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0000822671

**ORGANIZATION NAME:**
- **EIN:** 046649095
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-17486
- **FILM NUMBER:** 26869621

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

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

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

## Series and Classes Contracts Data

### Putnam VT Research Fund (Series ID: S000003887)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Class IA Shares | C000010869 |
| Class IB Shares | C000010870 |

---

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

---

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

---

## Series and Classes Contracts Data

### Putnam VT Research Fund (Series ID: S000003887)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000010869 | Class IA Shares |  |
| C000010870 | Class IB Shares |  |

### 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 |  |

**PGOF-P5 04/26**![](img_86ce8cbf03634f1.jpg)<br>

#### PUTNAM INVESTMENT FUNDS

#### PUTNAM VARIABLE TRUST

#### SUPPLEMENT DATED APRIL 17, 2026 TO THE

#### SUMMARY PROSPECTUS, PROSPECTUS

#### AND STATEMENT OF ADDITIONAL INFORMATION ("SAI")

#### OF EACH FUND LISTED IN SCHEDULE A

#### All changes described below are effective April 30, 2026.
I. **The following is added to the sections titled "Your fund's management – Portfolio managers" and "Fund summary – Your fund's management – Portfolio managers" in the Summary Prospectus and Prospectus, respectively, of each fund listed in Schedule A:** 

#### Robert Gray
Portfolio Manager of Putnam Management and portfolio manager of the fund since April 2026.

**II. The following is added to the section titled "Who oversees and manages the fund? – Portfolio managers" in the Prospectus of each fund listed in Schedule A:** 

**Robert Gray, Portfolio Manager of Putnam Management<br>Mr. Gray has been a portfolio manager of the fund since April 2026. He joined Putnam Management in 2018.** 

<br> **III. The following is added to the table in the section titled "PORTFOLIO MANAGERS – Other Accounts Managed by the Portfolio Managers" in the SAI of each fund listed in Schedule A:** 

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio**<br>**Manager**<br>| **Type of**<br>**Account**<br>| **Number of**<br>**Accounts**<br>**Managed** <br>| **Total<br>Assets<br>Managed<br>(Millions)**<br> **($)** <br>| **Number of**<br>**Accounts**<br>**Managed**<br>**for which**<br>**Advisory**<br>**Fee is**<br>**Performance-**<br>**Based** <br>| **Assets<br>Managed<br>for which<br>Advisory<br>Fee is<br>Performance-<br>Based<br>(Millions)** <br>**($)** <br>|
| Robert Gray\* | Registered Investment Companies | 1 | 716.30 |  |  |
|  | Other Pooled Investment Vehicles |  |  |  |  |
|  | Other Accounts | 1 | 0.04 |  |  |

---

\*Information provided as of February 28, 2026.

**IV. The following is added to the table in the section titled "PORTFOLIO MANAGERS – Portfolio managers' securities ownership" in Putnam U.S. Research Fund's SAI:**

---

| | |
|:---|:---|
| **Portfolio Managers**<br>| **Dollar Range of Ownership of Securities ($)**<br>|
| Robert Gray\* | 1 – 10000 |

---

\*Information provided as of April 15, 2026.

#### SCHEDULE A

---

| | |
|:---|:---|
| **Fund** | **Date of Summary Prospectus, Prospectus and SAI** |
| **Putnam Investment Funds**  |  |
| Putnam U.S. Research Fund | December 1, 2025 |

---

------

---

| | |
|:---|:---|
| **Putnam Variable Trust** |  |
| Putnam VT Research Fund | May 1, 2025 |

---

#### <br>

#### Shareholders should retain this Supplement for future reference.

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