# EDGAR Filing Document

**Accession Number:** 0000081259
**File Stem:** 0002071691-25-002490
**Filing Date:** 2025-10
**Character Count:** 79824
**Document Hash:** 61da76c9a7baf31ecddd53039b8e44e9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-002490.hdr.sgml**: 20251010

**ACCESSION NUMBER**: 0002071691-25-002490

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20251010

**DATE AS OF CHANGE**: 20251010

**EFFECTIVENESS DATE**: 20251010

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GEORGE PUTNAM BALANCED FUND
- **CENTRAL INDEX KEY:** 0000081259

**ORGANIZATION NAME:**
- **EIN:** 046013677
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00058
- **FILM NUMBER:** 251388097

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6177601000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GEORGE PUTNAM FUND OF BOSTON
- **DATE OF NAME CHANGE:** 19940302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM EQUITY INCOME FUND/NEW
- **DATE OF NAME CHANGE:** 19940302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM GEORGE FUND OF BOSTON
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### GEORGE PUTNAM FUND OF BOSTON (Series ID: S000005597)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000015264 | Class A Shares | PGEOX           |
| C000015265 | Class B Shares | PGEBX           |
| C000015266 | Class C Shares | PGPCX           |
| C000015267 | Class M Shares | PGEMX           |
| C000015268 | Class R Shares | PGPRX           |
| C000015269 | Class Y Shares | PGEYX           |
| C000136854 | Class R5       |  |
| C000136855 | Class R6       |  |

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees and Shareholders of George Putnam
Balanced Fund:

In planning and performing our audit of the financial statements
of George Putnam Balanced Fund (the "Fund") as of and for the
year ended July 31, 2025, in accordance with the standards
of the Public Company Accounting Oversight Board (United States)
(PCAOB), we considered the Fund's internal control over
financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures
for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-CEN,
but not for the purpose of expressing an opinion on the
effectiveness of the Fund's internal control over financial
reporting. Accordingly, we do not express an opinion on the
effectiveness of the Fund's internal control over financial
reporting.

The management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A company's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles.
A company's internal control over financial reporting includes
those policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions
are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company
are being made only in accordance with authorizations of
management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use or disposition of a company's
assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or
that the degree of compliance with the policies or
procedures may deteriorate.

A deficiency in internal control over financial reporting
exists when the design or operation of a control does
not allow management or employees, in the normal course
of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A material
weakness is a deficiency, or a combination of deficiencies,
in internal control over financial reporting, such that
there is a reasonable possibility that a material
misstatement of the company's annual or interim
financial statements will not be prevented or detected
on a timely basis.

Our consideration of the Fund's internal control over
financial reporting was for the limited purpose described
in the first paragraph and would not necessarily disclose
all deficiencies in internal control over financial
reporting that might be material weaknesses under
standards established by the PCAOB. However, we noted
no deficiencies in the Fund's internal control over
financial reporting and its operation, including
controls over safeguarding securities, that we consider
to be material weaknesses as defined above as of
July 31, 2025.

This report is intended solely for the information and use
of the Board of Trustees of George Putnam Balanced Fund
and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than
these specified parties.

PricewaterhouseCoopers LLP
Boston, Massachusetts
September 18, 2025

```

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000081259

## N-CEN: Series/Class (Contract) Information

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-07-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** George Putnam Balanced Fund

- **Item B.1.b - Investment Company Act file number:** 811-00058

- **Item B.1.c - CIK:** 0000081259

- **Item B.1.d - LEI:** UXP1ED8ZRKQ0D2W0Y977

- **Item B.2.a - Street 1:** 100 FEDERAL STREET

- **Item B.2.b - City:** BOSTON

- **Item B.2.c - State:** MA

- **Item B.2.e - Zip Code:** 02110

- **Item B.2.f - Telephone:** 1-800-225-1581

- **Item B.2.g - Public Website:** WWW.FRANKLINTEMPLETON.COM

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Services, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Administrative manager

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 380 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-270-6000

- **h. Briefly describe the books and records kept at this location:** Records relating to its functions as Sub-Administrator and Fund Accounting Agent

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Investment Management Limited

- **b. Street 1:** Cannon Place

- **Street 2:** 78 Cannon Street

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** EC4N 6HL

- **g. Telephone number:** 44-20-7073-8500

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** 225 FRANKLIN STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** 2 AVENUE DE LAFAYETTE

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02111

- **g. Telephone number:** 1-617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Franklin Distributors, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Principal underwriter

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** Putnam Investor Services, Inc.

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Putnam Investment Management, LLC

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** Michael J. Higgins

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

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

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 390 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-464-1909

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Custodian

**Location books Record: 11**

- **a. Name of person (e.g., a custodian of records):** Franklin Advisers, Inc.

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Putnam Family of Funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 1

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                     | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|:---|:---|:---|
| Jane E. Trust            | Yes                     | 811-23408, 811-03386, 811-06310, 811-03630, 811-07920, 811-22338, 811-07626, 811-22444, 811-21337, 811-21467, 811-00653, 811-22546, 811-03897, 811-06190, 811-10603, 811-22369, 811-05802, 811-07237, 811-02742, 811-02608, 811-04527, 811-04524, 811-08709, 811-22334, 811-04052, 811-22294, 811-06110, 811-05346, 811-05497, 811-06629, 811-05977, 811-23643, 811-02280, 811-21343, 811-04345, 811-07513, 811-03741, 811-04254, 811-10407, 811-21477, 811-06128, 811-04518, 811-06444, 811-05635, 811-02351, 811-05740, 811-07121, 811-04616, 811-05452, 811-21598, 811-01403, 811-21403, 811-05498, 811-21128, 811-02675, 811-22491, 811-06740, 811-06506, 811-04528 |
| Jennifer Williams Murphy | No                      | 811-05802, 811-05346, 811-04345, 811-07121, 811-03897, 811-05452, 811-07513, 811-04616, 811-04518, 811-07237, 811-04527, 811-04524, 811-00653, 811-03741, 811-04528, 811-05498, 811-21598, 811-06190, 811-02742, 811-07626, 811-05740, 811-02280, 811-02675, 811-03630, 811-05635, 811-23643, 811-02608, 811-03386, 811-06128, 811-05977, 811-01403                                                                                                                                                                                                                                                                                                                     |
| Katinka Domotorffy       | No                      | 811-23643, 811-03630, 811-04518, 811-07626, 811-07237, 811-05498, 811-01403, 811-03386, 811-05452, 811-04527, 811-03741, 811-05977, 811-06128, 811-04345, 811-05740, 811-04528, 811-04524, 811-02280, 811-05802, 811-03897, 811-00653, 811-07513, 811-02742, 811-02675, 811-07121, 811-05635, 811-02608, 811-04616, 811-06190, 811-05346, 811-21598                                                                                                                                                                                                                                                                                                                     |
| Catharine Bond Hill      | No                      | 811-04528, 811-03630, 811-05977, 811-03741, 811-07237, 811-03386, 811-04616, 811-23643, 811-06128, 811-04527, 811-04345, 811-01403, 811-03897, 811-00653, 811-07121, 811-04518, 811-07626, 811-05498, 811-02742, 811-04524, 811-02675, 811-05346, 811-02280, 811-07513, 811-06190, 811-05452, 811-05635, 811-05802, 811-05740, 811-02608, 811-21598                                                                                                                                                                                                                                                                                                                     |
| Liaquat Ahamed           | No                      | 811-02608, 811-01403, 811-05802, 811-07237, 811-04524, 811-07121, 811-02280, 811-00653, 811-05740, 811-05635, 811-05498, 811-02742, 811-03630, 811-03386, 811-02675, 811-04518, 811-04345, 811-06190, 811-05977, 811-07626, 811-06128, 811-03741, 811-05452, 811-21598, 811-07513, 811-04616, 811-04528, 811-04527, 811-23643, 811-03897, 811-05346                                                                                                                                                                                                                                                                                                                     |
| Gregory G. McGreevey     | No                      | 811-01403, 811-04345, 811-04518, 811-02280, 811-03386, 811-03897, 811-07513, 811-02742, 811-05635, 811-05977, 811-07121, 811-04527, 811-02608, 811-03630, 811-21598, 811-05498, 811-23643, 811-05802, 811-06128, 811-04528, 811-02675, 811-00653, 811-05452, 811-03741, 811-04524, 811-05740, 811-07237, 811-04616, 811-05346, 811-06190, 811-07626                                                                                                                                                                                                                                                                                                                     |
| Manoj P. Singh           | No                      | 811-05977, 811-01403, 811-00653, 811-02742, 811-03386, 811-07626, 811-04528, 811-02280, 811-06128, 811-05452, 811-03897, 811-04616, 811-04518, 811-06190, 811-05635, 811-03630, 811-07513, 811-04345, 811-05498, 811-05346, 811-07237, 811-03741, 811-04527, 811-21598, 811-23643, 811-02675, 811-02608, 811-05740, 811-07121, 811-05802, 811-04524                                                                                                                                                                                                                                                                                                                     |
| George Putnam III        | No                      | 811-04528, 811-04345, 811-05802, 811-04524, 811-05452, 811-06190, 811-04518, 811-07237, 811-03897, 811-04616, 811-00653, 811-07121, 811-03630, 811-01403, 811-23643, 811-05346, 811-05635, 811-05498, 811-03386, 811-02608, 811-07513, 811-04527, 811-02742, 811-05977, 811-02280, 811-03741, 811-06128, 811-07626, 811-02675, 811-05740, 811-21598                                                                                                                                                                                                                                                                                                                     |
| Mona K. Sutphen          | No                      | 811-02742, 811-02608, 811-04528, 811-05635, 811-06128, 811-05346, 811-03897, 811-05740, 811-04524, 811-03741, 811-04616, 811-07237, 811-04527, 811-07513, 811-01403, 811-05452, 811-00653, 811-02675, 811-04518, 811-05498, 811-03386, 811-07121, 811-02280, 811-07626, 811-23643, 811-05977, 811-03630, 811-06190, 811-04345, 811-05802, 811-21598                                                                                                                                                                                                                                                                                                                     |
| Robert L. Reynolds       | Yes                     | 811-05452, 811-23643, 811-06190, 811-04616, 811-02675, 811-03386, 811-04527, 811-04345, 811-03897, 811-05977, 811-05740, 811-03741, 811-04528, 811-01403, 811-02742, 811-00653, 811-07237, 811-07121, 811-06128, 811-07626, 811-05498, 811-21598, 811-05346, 811-04524, 811-05635, 811-05802, 811-03630, 811-02280, 811-07513, 811-04518, 811-02608                                                                                                                                                                                                                                                                                                                     |
| Marie Pillai             | No                      | 811-05498, 811-05346, 811-04528, 811-06190, 811-04518, 811-05452, 811-03741, 811-02280, 811-07513, 811-02675, 811-04527, 811-05977, 811-07121, 811-04345, 811-05740, 811-03386, 811-05802, 811-04616, 811-01403, 811-23643, 811-21598, 811-03897, 811-03630, 811-04524, 811-07237, 811-06128, 811-02608, 811-00653, 811-05635, 811-02742, 811-07626                                                                                                                                                                                                                                                                                                                     |
| Barbara M. Baumann       | No                      | 811-07121, 811-05740, 811-02280, 811-23643, 811-06128, 811-04345, 811-05802, 811-05635, 811-04518, 811-04616, 811-02675, 811-05452, 811-04524, 811-05977, 811-07513, 811-05498, 811-03897, 811-05346, 811-03741, 811-21598, 811-03386, 811-03630, 811-02742, 811-07626, 811-01403, 811-02608, 811-06190, 811-00653, 811-04527, 811-07237, 811-04528                                                                                                                                                                                                                                                                                                                     |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** James F. Clark

- **b. CRD Number, if any:** N/A

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

- **d. City:** BOSTON

- **e. State, if applicable:** MA

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 02110

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-25271
  - IC-20851

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. SEC file number:** 8-5889

- **iii. CRD number:** 000000332

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** Yes

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PricewaterhouseCoopers LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - George Putnam Balanced Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** George Putnam Balanced Fund

- **b. Series identification number, if any:** S000005597

- **c. LEI:** UXP1ED8ZRKQ0D2W0Y977

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 7

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 1

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class                | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | GEORGE PUTNAM BALANCED FUND CLASS A  | C000015264                                | PGEOX                        |
|                           2 | GEORGE PUTNAM BALANCED FUND CLASS C  | C000015266                                | PGPCX                        |
|                           3 | GEORGE PUTNAM BALANCED FUND CLASS R5 | C000136854                                | PGELX                        |
|                           4 | GEORGE PUTNAM BALANCED FUND CLASS R  | C000015268                                | PGPRX                        |
|                           5 | GEORGE PUTNAM BALANCED FUND CLASS R6 | C000136855                                | PGEJX                        |
|                           6 | GEORGE PUTNAM BALANCED FUND CLASS Y  | C000015269                                | PGEYX                        |
|                           7 | GEORGE PUTNAM BALANCED FUND CLASS M  | C000015267                                | PGEMX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $6,394,707.03

- **g. Provide the net income from securities lending activities:** $15,331.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-4 (17 CFR 270.12d1-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** No

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. SEC file number:** 84-06331

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $34,854.23

**Brokers Record: 2**

- **i. Full name of broker:** BofA Securities, Inc.

- **ii. SEC file number:** 8-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $82,486.07

**Brokers Record: 3**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $196,166.39

**Brokers Record: 4**

- **i. Full name of broker:** Mizuho Securities USA LLC

- **ii. SEC file number:** 8-37710

- **iii. CRD number:** 000019647

- **iv. LEI, if any:** 7TK5RJIZDFROZCA6XF66

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $24,883.44

**Brokers Record: 5**

- **i. Full name of broker:** Stifel, Nicolaus & Company, Incorporated

- **ii. SEC file number:** 8-01447

- **iii. CRD number:** 000000793

- **iv. LEI, if any:** 5WUVMA08EYG4KEUPW589

- **v. State, if applicable:** MO

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $21,199.86

**Brokers Record: 6**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $57,232.53

**Brokers Record: 7**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $147,728.58

**Brokers Record: 8**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $50,325.52

**Brokers Record: 9**

- **i. Full name of broker:** Piper Sandler & Co.

- **ii. SEC file number:** 8-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

- **v. State, if applicable:** MN

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $36,332.57

**Brokers Record: 10**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $54,477.40

**Aggregate Commission:** $823,764.88

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Morgan Stanley & Co. LLC              | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $678,430,413.31           |
| Citigroup Global Markets Inc.         | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $982,451,873.54           |
| Wells Fargo Securities, LLC           | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $759,176,334.59           |
| BofA Securities, Inc.                 | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $313,846,270.50           |
| Mizuho Securities USA LLC             | 8-37710           |    000019647 | 7TK5RJIZDFROZCA6XF66 | NY      | US        | $247,168,690.45           |
| Barclays Capital, Inc.                | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $292,268,528.04           |
| Nomura Securities International, Inc. | 8-15255           |    000004297 | OXTKY6Q8X53C9ILVV871 | NY      | US        | $117,207,574.13           |
| J.P. Morgan Securities LLC            | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $1,828,142,062.74         |
| Goldman Sachs & Co. LLC               | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $1,158,063,513.12         |
| Citadel Securities LLC                | 8-53574           |    000116797 | 12UUJYTN7D3SW8KCSG25 | FL      | US        | $179,168,976.56           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $7,084,669,223.15

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $2,104,360,439.41

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 2 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 3 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 5 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 6 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 7 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 8 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 9 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 10 Name of institution:** CITIBANK, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Putnam Income Fund                                                                            | 811-00653         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam International Value Fund                                                               | 811-07513         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Templeton International Bond Fund                                                             | 811-04706         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| International Equity Series                                                                   | 811-06135         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Putnam Research Fund                                                                          | 811-07237         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| ClearBridge International Growth Fund                                                         | 811-22338         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** George Putnam Balanced Fund

**Date:** 2025-07-31

**Signature:** Monica Krogh

**Title:** Assistant Treasurer