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Form NPORT-P PUTNAM VARIABLE TRUST For: Mar 31

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StreetInsider.com Top Tickers, 4/19/2024

1. NFLX
2. INFY
3. ISRG
4. JWN
5. SPY
6. PPG
7. TSM
8. SNV
9. BZUN
10. ELV


May 25, 2022 3:27 PM EDT 

    
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                    0000822671
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            Putnam Variable Trust
            811-05346
            0000822671
            549300TBVD21LYBGBD46
            100 FEDERAL STREET
            BOSTON
            
            02110
            1-800-225-1581
            Putnam VT Research Fund
            S000003887
            2OWXZ2LGVIYMJOL2HG14
            2022-12-31
            2022-03-31
            N
        
        
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            262502.55
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            48022.25
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                T-MOBILE US INC
                549300QHIJYOHPACPG31
                COMMON STOCK
                872590104
                
                    
                
                7076
                NS
                USD
                908204.6
                1.307016881186
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                JOHNSON CONTROLS INTERNATIONAL PLC
                549300XQ6S1GYKGBL205
                COMMON STOCK
                G51502105
                
                    
                
                8572
                NS
                USD
                562066.04
                0.808881393709
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                VISA INC
                549300JZ4OKEHW3DPJ59
                COMMON STOCK
                92826C839
                
                    
                
                2887
                NS
                USD
                640249.99
                0.921397607003
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                IRONWOOD PHARMACEUTICALS INC
                549300PC8MR6QHH6P296
                COMMON STOCK
                46333X108
                
                    
                
                9711
                NS
                USD
                122164.38
                0.175809401251
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                TESLA INC
                54930043XZGB27CTOV49
                COMMON STOCK
                88160R101
                
                    
                
                1200
                NS
                USD
                1293120
                1.860956957715
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                KKR  AND  CO INC
                549300JOHU21WRN2Z451
                COMMON STOCK
                48251W104
                
                    
                
                5381
                NS
                USD
                314627.07
                0.452786620733
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                GENERAL MOTORS CO
                54930070NSV60J38I987
                COMMON STOCK
                37045V100
                
                    
                
                2496
                NS
                USD
                109175.04
                0.157116161143
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BOOZ ALLEN HAMILTON HOLDING CORP
                529900JPV47PIUWMA015
                COMMON STOCK
                099502106
                
                    
                
                1149
                NS
                USD
                100928.16
                0.145247897783
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                META PLATFORMS INC
                BQ4BKCS1HXDV9HN80Z93
                COMMON STOCK
                30303M102
                
                    
                
                3825
                NS
                USD
                850527
                1.224011799659
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ABBVIE INC
                FR5LCKFTG8054YNNRU85
                COMMON STOCK
                00287Y109
                
                    
                
                5743
                NS
                USD
                930997.73
                1.339818967505
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BURLINGTON STORES INC
                5299003Z37DVGKKC1W09
                COMMON STOCK
                122017106
                
                    
                
                355
                NS
                USD
                64670.35
                0.093068499281
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                GAMING AND LEISURE PROPERTIES INC
                5493006GWRDBCZYWTM57
                COMMON STOCK
                36467J108
                
                    
                
                11432
                NS
                USD
                536503.76
                0.772094163738
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                HILTON WORLDWIDE HOLDINGS INC
                549300HVGPK36ICB0B89
                COMMON STOCK
                43300A203
                
                    
                
                2099
                NS
                USD
                318502.26
                0.458363490469
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ARAMARK
                549300MR6PG2DWZUIL39
                COMMON STOCK
                03852U106
                
                    
                
                3790
                NS
                USD
                142504
                0.205080588269
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                PAYPAL HOLDINGS INC
                5493005X2GO78EFZ3E94
                COMMON STOCK
                70450Y103
                
                    
                
                1930
                NS
                USD
                223204.5
                0.321218423092
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                INGERSOLL RAND INC
                5299004C02FMZCUOIR50
                COMMON STOCK
                45687V106
                
                    
                
                4023
                NS
                USD
                202558.05
                0.291505670385
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BJ'S WHOLESALE CLUB HOLDINGS INC
                549300UCIWH1C93V0J03
                COMMON STOCK
                05550J101
                
                    
                
                777
                NS
                USD
                52532.97
                0.075601333234
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CIGNA CORP
                549300VIWYMSIGT1U456
                COMMON STOCK
                125523100
                
                    
                
                1202
                NS
                USD
                288011.22
                0.414483175389
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                LEVI STRAUSS  AND  CO
                MB0UERO0RDFKU8258G77
                COMMON STOCK
                52736R102
                
                    
                
                3877
                NS
                USD
                76609.52
                0.110250417031
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AVANTOR INC
                5493003VM0XB4U8YD238
                COMMON STOCK
                05352A100
                
                    
                
                5316
                NS
                USD
                179787.12
                0.258735532566
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CORTEVA INC
                549300WZN9I2QKLS0O94
                COMMON STOCK
                22052L104
                
                    
                
                6227
                NS
                USD
                357927.96
                0.515101867980
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                4FRONT VENTURES CORP
                N/A
                COMMON STOCK
                35086B207
                
                    
                
                150226
                NS
                USD
                120180.8
                0.172954788375
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                SILVERGATE CAPITAL CORP
                BPE6FTXDZEBNAGIT2T19
                COMMON STOCK
                82837P408
                
                    
                
                1659
                NS
                USD
                249795.63
                0.359486293349
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                OTIS WORLDWIDE CORP
                549300ZLBKR8VSU25153
                COMMON STOCK
                68902V107
                
                    
                
                6755
                NS
                USD
                519797.25
                0.748051463893
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                UNITY SOFTWARE INC
                549300D1ESJMGNQNG432
                COMMON STOCK
                91332U101
                
                    
                
                2931
                NS
                USD
                290784.51
                0.418474277005
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                VONTIER CORP
                549300VVSQLG4P5K4639
                COMMON STOCK
                928881101
                
                    
                
                8731
                NS
                USD
                221680.09
                0.319024611693
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                WARBY PARKER INC
                N/A
                COMMON STOCK
                93403J106
                
                    
                
                1704
                NS
                USD
                57612.24
                0.082911020538
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                OLAPLEX HOLDINGS INC
                N/A
                COMMON STOCK
                679369108
                
                    
                
                8629
                NS
                USD
                134871.27
                0.194096161456
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                APOLLO ASSET MANAGEMENT INC
                54930054P2G7ZJB0KM79
                COMMON STOCK
                03769M106
                
                    
                
                8092
                NS
                USD
                501623.08
                0.721896622801
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                COOPER COS INC/THE
                QJKMVPIGLH7530PCUE20
                COMMON STOCK
                216648402
                
                    
                
                242
                NS
                USD
                101056.78
                0.145432997607
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                INTUIT INC
                VI90HBPH7XSFMB9E4M29
                COMMON STOCK
                461202103
                
                    
                
                1821
                NS
                USD
                875609.64
                1.260108769333
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CVS HEALTH CORP
                549300EJG376EN5NQE29
                COMMON STOCK
                126650100
                
                    
                
                1716
                NS
                USD
                173676.36
                0.249941405695
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CHARLES SCHWAB CORP/THE
                549300VSGCJ7E698NM85
                COMMON STOCK
                808513105
                
                    
                
                4220
                NS
                USD
                355788.2
                0.512022493089
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                DANAHER CORP
                S4BKK9OTCEWQ3YHPFM11
                COMMON STOCK
                235851102
                
                    
                
                1868
                NS
                USD
                547940.44
                0.788552937261
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                NORTHROP GRUMMAN CORP
                RIMU48P07456QXSO0R61
                COMMON STOCK
                666807102
                
                    
                
                1571
                NS
                USD
                702582.62
                1.011101842875
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                SOUTHWEST AIRLINES CO
                UDTZ87G0STFETI6HGH41
                COMMON STOCK
                844741108
                
                    
                
                4650
                NS
                USD
                212970
                0.306489732805
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                APPLE INC
                HWUPKR0MPOU8FGXBT394
                COMMON STOCK
                037833100
                
                    
                
                19501
                NS
                USD
                3405069.61
                4.900309315635
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                MCCORMICK  AND  CO INC/MD
                549300JQQA6MQ4OJP259
                COMMON STOCK
                579780206
                
                    
                
                1776
                NS
                USD
                177244.8
                0.255076824872
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CARDINAL HEALTH INC
                CCU46N3GJMF4OK4N7U60
                COMMON STOCK
                14149Y108
                
                    
                
                1242
                NS
                USD
                70421.4
                0.101344959711
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                UNITED RENTALS INC
                5323X5O7RN0NKFCDRY08
                COMMON STOCK
                911363109
                
                    
                
                698
                NS
                USD
                247936.58
                0.356810894289
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BANK OF AMERICA CORP
                9DJT3UXIJIZJI4WXO774
                COMMON STOCK
                060505104
                
                    
                
                18800
                NS
                USD
                774936
                1.115227156787
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                EASTMAN CHEMICAL CO
                FDPVHDGJ1IQZFK9KH630
                COMMON STOCK
                277432100
                
                    
                
                1215
                NS
                USD
                136152.9
                0.195940582907
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                PULTE HOMES INC
                N/A
                COMMON STOCK
                745867101
                
                    
                
                8627
                NS
                USD
                361471.3
                0.520201165205
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                FIDELITY NATIONAL INFORMATION SERVICES INC
                6WQI0GK1PRFVBA061U48
                COMMON STOCK
                31620M106
                
                    
                
                10201
                NS
                USD
                1024384.42
                1.474213772716
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                WALT DISNEY CO/THE
                549300GZKULIZ0WOW665
                COMMON STOCK
                254687106
                
                    
                
                2777
                NS
                USD
                380893.32
                0.548151814218
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                UNITEDHEALTH GROUP INC
                549300GHBMY8T5GXDE41
                COMMON STOCK
                91324P102
                
                    
                
                2348
                NS
                USD
                1197409.56
                1.723217993625
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BRISTOL-MYERS SQUIBB CO
                HLYYNH7UQUORYSJQCN42
                COMMON STOCK
                110122108
                
                    
                
                2165
                NS
                USD
                158109.95
                0.227539448417
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BOEING CO/THE
                RVHJWBXLJ1RFUBSY1F30
                COMMON STOCK
                097023105
                
                    
                
                521
                NS
                USD
                99771.5
                0.143583323363
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                PROCTER  AND  GAMBLE CO/THE
                2572IBTT8CCZW6AU4141
                COMMON STOCK
                742718109
                
                    
                
                7596
                NS
                USD
                1160668.8
                1.670343571334
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                GENERAL ELECTRIC CO
                3C7474T6CDKPR9K6YT90
                COMMON STOCK
                369604301
                
                    
                
                1726
                NS
                USD
                157929
                0.227279039358
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                VORNADO REALTY TRUST
                N/A
                COMMON STOCK
                929042109
                
                    
                
                3823
                NS
                USD
                173258.36
                0.249339852855
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                WALMART INC
                Y87794H0US1R65VBXU25
                COMMON STOCK
                931142103
                
                    
                
                4393
                NS
                USD
                654205.56
                0.941481369601
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                NIKE INC
                787RXPR0UX0O0XUXPZ81
                COMMON STOCK
                654106103
                
                    
                
                1622
                NS
                USD
                218256.32
                0.314097390242
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AMERICAN ELECTRIC POWER CO INC
                1B4S6S7G0TW5EE83BO58
                COMMON STOCK
                025537101
                
                    
                
                2377
                NS
                USD
                237153.29
                0.341292428445
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                MEDTRONIC PLC
                549300GX3ZBSQWUXY261
                COMMON STOCK
                G5960L103
                
                    
                
                2128
                NS
                USD
                236101.6
                0.339778918621
                Long
                EC
                CORP
                IE
                
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                GENERAL DYNAMICS CORP
                9C1X8XOOTYY2FNYTVH06
                COMMON STOCK
                369550108
                
                    
                
                411
                NS
                USD
                99124.98
                0.142652902449
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                SHERWIN-WILLIAMS CO/THE
                Z15BMIOX8DDH0X2OBP21
                COMMON STOCK
                824348106
                
                    
                
                1102
                NS
                USD
                275081.24
                0.395875361540
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                QUALCOMM INC
                H1J8DDZKZP6H7RWC0H53
                COMMON STOCK
                747525103
                
                    
                
                6231
                NS
                USD
                952221.42
                1.370362438779
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                PEPSICO INC
                FJSUNZKFNQ5YPJ5OT455
                COMMON STOCK
                713448108
                
                    
                
                5393
                NS
                USD
                902680.34
                1.299066799149
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AVERY DENNISON CORP
                549300PW7VPFCYKLIV37
                COMMON STOCK
                053611109
                
                    
                
                1625
                NS
                USD
                282701.25
                0.406841482726
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                COCA-COLA CO/THE
                UWJKFUJFZ02DKWI3RY53
                COMMON STOCK
                191216100
                
                    
                
                10487
                NS
                USD
                650194
                0.935708246848
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                COSTCO WHOLESALE CORP
                29DX7H14B9S6O3FD6V18
                COMMON STOCK
                22160K105
                
                    
                
                612
                NS
                USD
                352420.2
                0.507175531451
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                HONEYWELL INTERNATIONAL INC
                ISRPG12PN4EIEOEMW547
                COMMON STOCK
                438516106
                
                    
                
                2236
                NS
                USD
                435080.88
                0.626134303703
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CITIGROUP INC
                6SHGI4ZSSLCXXQSBB395
                COMMON STOCK
                172967424
                
                    
                
                19584
                NS
                USD
                1045785.6
                1.505012673687
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ALTRIA GROUP INC
                XSGZFLO9YTNO9VCQV219
                COMMON STOCK
                02209S103
                
                    
                
                2622
                NS
                USD
                136999.5
                0.197158943276
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BIO-RAD LABORATORIES INC
                549300ZC1GPV35XYDK53
                COMMON STOCK
                090572207
                
                    
                
                342
                NS
                USD
                192624.66
                0.277210314011
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                RAYTHEON TECHNOLOGIES CORP
                I07WOS4YJ0N7YRFE7309
                COMMON STOCK
                75513E101
                
                    
                
                6499
                NS
                USD
                643855.93
                0.926586993241
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ORACLE CORP
                1Z4GXXU7ZHVWFCD8TV52
                COMMON STOCK
                68389X105
                
                    
                
                12304
                NS
                USD
                1017909.92
                1.464896179745
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BAXTER INTERNATIONAL INC
                J5OIVXX3P24RJRW5CK77
                COMMON STOCK
                071813109
                
                    
                
                1485
                NS
                USD
                115146.9
                0.165710394019
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                EMERSON ELECTRIC CO
                FGLT0EWZSUIRRITFOA30
                COMMON STOCK
                291011104
                
                    
                
                3213
                NS
                USD
                315034.65
                0.453373177925
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CSX CORP
                549300JVQR4N1MMP3Q88
                COMMON STOCK
                126408103
                
                    
                
                5768
                NS
                USD
                216011.6
                0.310866965144
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                MICROSOFT CORP
                INR2EJN1ERAN0W5ZP974
                COMMON STOCK
                594918104
                
                    
                
                14471
                NS
                USD
                4461554.01
                6.420718863780
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AMAZON.COM INC
                ZXTILKJKG63JELOEG630
                COMMON STOCK
                023135106
                
                    
                
                1136
                NS
                USD
                3703303.2
                5.329503724766
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CONOCOPHILLIPS 
                WPTL2Z3FIYTHSP5V2253
                COMMON STOCK
                20825C104
                
                    
                
                3405
                NS
                USD
                340500
                0.490020913838
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                PPG INDUSTRIES INC
                549300BKPEP01R3V6C59
                COMMON STOCK
                693506107
                
                    
                
                1316
                NS
                USD
                172488.12
                0.248231383814
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                THERMO FISHER SCIENTIFIC INC
                HCHV7422L5HDJZCRFL38
                COMMON STOCK
                883556102
                
                    
                
                892
                NS
                USD
                526859.8
                0.758215332336
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                EDWARDS LIFESCIENCES CORP
                YA13X31F3V31L8TMPR58
                COMMON STOCK
                28176E108
                
                    
                
                442
                NS
                USD
                52032.24
                0.074880721861
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ADOBE INC
                FU4LY2G4933NH2E1CP29
                COMMON STOCK
                00724F101
                
                    
                
                1425
                NS
                USD
                649258.5
                0.934361948567
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                GOLDMAN SACHS GROUP INC/THE
                784F5XWPLTWKTBV3E584
                COMMON STOCK
                38141G104
                
                    
                
                2505
                NS
                USD
                826900.5
                1.190010392549
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BOSTON SCIENTIFIC CORP
                Y6ZDD9FP4P8JSSJMW954
                COMMON STOCK
                101137107
                
                    
                
                8457
                NS
                USD
                374560.53
                0.539038159172
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                O'REILLY AUTOMOTIVE INC
                549300K2RLMQL149Q332
                COMMON STOCK
                67103H107
                
                    
                
                345
                NS
                USD
                236311.2
                0.340080558514
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                MERCK  AND  CO INC
                4YV9Y5M8S0BRK1RP0397
                COMMON STOCK
                58933Y105
                
                    
                
                4116
                NS
                USD
                337717.8
                0.486016989649
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BOOKING HOLDINGS INC
                FXM8FAOHMYDIPD38UZ17
                COMMON STOCK
                09857L108
                
                    
                
                225
                NS
                USD
                528401.25
                0.760433666367
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                NEXTERA ENERGY INC
                N/A
                COMMON STOCK
                65339F101
                
                    
                
                4389
                NS
                USD
                371792.19
                0.535054181209
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ADVANCED MICRO DEVICES INC
                R2I72C950HOYXII45366
                COMMON STOCK
                007903107
                
                    
                
                7926
                NS
                USD
                866628.84
                1.247184305830
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                EXXON MOBIL CORP
                J3WHBG0MTS7O8ZVMDC91
                COMMON STOCK
                30231G102
                
                    
                
                14399
                NS
                USD
                1189213.41
                1.711422736906
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                REGENERON PHARMACEUTICALS INC
                549300RCBFWIRX3HYQ56
                COMMON STOCK
                75886F107
                
                    
                
                852
                NS
                USD
                595053.84
                0.856354850101
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ELI LILLY  AND  CO
                FRDRIPF3EKNDJ2CQJL29
                COMMON STOCK
                532457108
                
                    
                
                1253
                NS
                USD
                358821.61
                0.516387939022
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                JOHNSON  AND  JOHNSON
                549300G0CFPGEF6X2043
                COMMON STOCK
                478160104
                
                    
                
                3852
                NS
                USD
                682689.96
                0.982473885660
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                DEERE  AND  CO
                PWFTNG3EI0Y73OXWDH08
                COMMON STOCK
                244199105
                
                    
                
                713
                NS
                USD
                296222.98
                0.426300896797
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                BATH  AND  BODY WORKS INC
                GR3KVMWVCR54YWQNXU90
                COMMON STOCK
                070830104
                
                    
                
                1341
                NS
                USD
                64099.8
                0.092247408437
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AMGEN INC
                62QBXGPJ34PQ72Z12S66
                COMMON STOCK
                031162100
                
                    
                
                696
                NS
                USD
                168306.72
                0.242213840645
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                TARGET CORP
                8WDDFXB5T1Z6J0XC1L66
                COMMON STOCK
                87612E106
                
                    
                
                2184
                NS
                USD
                463488.48
                0.667016295222
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                TJX COS INC/THE
                V167QI9I69W364E2DY52
                COMMON STOCK
                872540109
                
                    
                
                1530
                NS
                USD
                92687.4
                0.133388441848
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                INTUITIVE SURGICAL INC
                54930052SRG011710797
                COMMON STOCK
                46120E602
                
                    
                
                801
                NS
                USD
                241645.68
                0.347757524049
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AMEREN CORP
                XRZQ5S7HYJFPHJ78L959
                COMMON STOCK
                023608102
                
                    
                
                2359
                NS
                USD
                221179.84
                0.318304691099
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CONSTELLATION BRANDS INC
                5493005GKEG8QCVY7037
                COMMON STOCK
                21036P108
                
                    
                
                271
                NS
                USD
                62416.72
                0.089825251610
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                UNION PACIFIC CORP
                549300LMMRSZZCZ8CL11
                COMMON STOCK
                907818108
                
                    
                
                4362
                NS
                USD
                1191742.02
                1.715061714242
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ABBOTT LABORATORIES
                HQD377W2YR662HK5JX27
                COMMON STOCK
                002824100
                
                    
                
                2362
                NS
                USD
                279566.32
                0.402329937165
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                PFIZER INC
                765LHXWGK1KXCLTFYQ30
                COMMON STOCK
                717081103
                
                    
                
                8283
                NS
                USD
                428810.91
                0.617111054279
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                HOME DEPOT INC/THE
                QEKMOTMBBKA8I816DO57
                COMMON STOCK
                437076102
                
                    
                
                3995
                NS
                USD
                1195823.35
                1.720935244510
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                MCKESSON CORP
                549300WZWOM80UCFSF54
                COMMON STOCK
                58155Q103
                
                    
                
                557
                NS
                USD
                170514.41
                0.245390975068
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                NVIDIA CORP
                549300S4KLFTLO7GSQ80
                COMMON STOCK
                67066G104
                
                    
                
                2786
                NS
                USD
                760187.96
                1.094002933474
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ILLUMINA INC
                SQ95QG8SR5Q56LSNF682
                COMMON STOCK
                452327109
                
                    
                
                438
                NS
                USD
                153037.2
                0.220239144186
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                PENN NATIONAL GAMING INC
                N/A
                COMMON STOCK
                707569109
                
                    
                
                3781
                NS
                USD
                160390.02
                0.230820746464
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ANTHEM INC
                8MYN82XMYQH89CTMTH67
                COMMON STOCK
                036752103
                
                    
                
                1175
                NS
                USD
                577183.5
                0.830637257334
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CARMAX INC
                N/A
                COMMON STOCK
                143130102
                
                    
                
                1754
                NS
                USD
                169225.92
                0.243536681244
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                NRG ENERGY INC
                5E2UPK5SW04M13XY7I38
                COMMON STOCK
                629377508
                
                    
                
                28561
                NS
                USD
                1095599.96
                1.576701596476
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                SALESFORCE INC
                RCGZFPDMRW58VJ54VR07
                COMMON STOCK
                79466L302
                
                    
                
                3052
                NS
                USD
                648000.64
                0.932551735038
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ALPHABET INC
                5493006MHB84DD0ZWV18
                COMMON STOCK
                02079K305
                
                    
                
                961
                NS
                USD
                2672877.35
                3.846595599482
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                DEXCOM INC
                549300YSK3QDSFR5EU59
                COMMON STOCK
                252131107
                
                    
                
                382
                NS
                USD
                195431.2
                0.281249266421
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CHIPOTLE MEXICAN GRILL INC
                N/A
                COMMON STOCK
                169656105
                
                    
                
                161
                NS
                USD
                254706.83
                0.366554107481
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                MASTERCARD INC
                AR5L2ODV9HN37376R084
                COMMON STOCK
                57636Q104
                
                    
                
                4285
                NS
                USD
                1531373.3
                2.203832434340
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CRH PLC
                549300MIDJNNTH068E74
                COMMON STOCK - ADR
                12626K203
                
                    
                
                2849
                NS
                USD
                114130.94
                0.164248304012
                Long
                EC
                CORP
                IE
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                SEA LTD
                529900OM6JLLW44YKI15
                COMMON STOCK - ADR
                81141R100
                
                    
                
                612
                NS
                USD
                73311.48
                0.105504136342
                Long
                EC
                CORP
                SG
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ASCENDIS PHARMA A/S
                549300B66JN3W3J8GH73
                COMMON STOCK - ADR
                04351P101
                
                    
                
                1633
                NS
                USD
                191648.88
                0.275806047911
                Long
                EC
                CORP
                DK
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                STATE STREET B AND T CO
                571474TGEMMWANRLN572
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                118883.55
                0.171087887845
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            STATE STREET B AND T CO
                            571474TGEMMWANRLN572
                        
                        119476.46
                        HKD
                        118883.55
                        USD
                        2022-05-18
                        592.91
                    
                
                
                    N
                    N
                    N
                
            
            
                BARCLAYS BANK PLC WHOLESALE, LONDON 
                G5GSEF7VJP5I7OUK5573
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                163370.65
                0.235110235557
                N/A
                DFE
                CORP
                GB
                N
                
                2
                
                    
                        
                            BARCLAYS BANK PLC WHOLESALE, LONDON 
                            G5GSEF7VJP5I7OUK5573
                        
                        166461.75
                        GBP
                        163370.65
                        USD
                        2022-06-15
                        3091.1
                    
                
                
                    N
                    N
                    N
                
            
            
                GOLDMAN SACHS INTL FX
                W22LROWP2IHZNBB6K528
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                814095.4
                1.171582296209
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            GOLDMAN SACHS INTL FX
                            W22LROWP2IHZNBB6K528
                        
                        829500.59
                        GBP
                        814095.4
                        USD
                        2022-06-15
                        15405.19
                    
                
                
                    N
                    N
                    N
                
            
            
                HSBC BANK USA
                1IE8VN30JCEQV1H4R804
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                108150.68
                0.155641982513
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            HSBC BANK USA
                            1IE8VN30JCEQV1H4R804
                        
                        108523.45
                        EUR
                        108150.68
                        USD
                        2022-06-15
                        372.77
                    
                
                
                    N
                    N
                    N
                
            
            
                CITIBANK N.A.
                E57ODZWZ7FF32TWEFA76
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                10759.61
                0.015484387444
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            CITIBANK N.A.
                            E57ODZWZ7FF32TWEFA76
                        
                        10798.1
                        EUR
                        10759.61
                        USD
                        2022-06-15
                        38.49
                    
                
                
                    N
                    N
                    N
                
            
            
                BARCLAYS BANK PLC WHOLESALE, LONDON 
                G5GSEF7VJP5I7OUK5573
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                272872.49
                0.392696701648
                N/A
                DFE
                CORP
                GB
                N
                
                2
                
                    
                        
                            BARCLAYS BANK PLC WHOLESALE, LONDON 
                            G5GSEF7VJP5I7OUK5573
                        
                        273796.94
                        EUR
                        272872.49
                        USD
                        2022-06-15
                        924.45
                    
                
                
                    N
                    N
                    N
                
            
            
                GOLDMAN SACHS INTL FX
                W22LROWP2IHZNBB6K528
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                162059.64
                0.233223532714
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            GOLDMAN SACHS INTL FX
                            W22LROWP2IHZNBB6K528
                        
                        162529.68
                        EUR
                        162059.64
                        USD
                        2022-06-15
                        470.04
                    
                
                
                    N
                    N
                    N
                
            
            
                STATE STREET B AND T CO
                571474TGEMMWANRLN572
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                261780.11
                0.376733417700
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            STATE STREET B AND T CO
                            571474TGEMMWANRLN572
                        
                        261780.11
                        USD
                        261482.31
                        EUR
                        2022-06-15
                        297.8
                    
                
                
                    N
                    N
                    N
                
            
            
                BANK OF AMERICA N.A.
                B4TYDEB6GKMZO031MB27
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                174311.85
                0.250855953098
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            BANK OF AMERICA N.A.
                            B4TYDEB6GKMZO031MB27
                        
                        174056.89
                        DKK
                        174311.85
                        USD
                        2022-06-15
                        -254.96
                    
                
                
                    N
                    N
                    N
                
            
            
                BANK OF AMERICA N.A.
                B4TYDEB6GKMZO031MB27
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                183911.62
                0.264671189715
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            BANK OF AMERICA N.A.
                            B4TYDEB6GKMZO031MB27
                        
                        184556.95
                        EUR
                        183911.62
                        USD
                        2022-06-15
                        645.33
                    
                
                
                    N
                    N
                    N
                
            
            
                MORGAN STANLEY AND CO. INTERNATIONAL
                4PQUHN3JPFGFNF3BB653
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                101495.26
                0.146064023658
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            MORGAN STANLEY AND CO. INTERNATIONAL
                            4PQUHN3JPFGFNF3BB653
                        
                        101834.01
                        EUR
                        101495.26
                        USD
                        2022-06-15
                        338.75
                    
                
                
                    N
                    N
                    N
                
            
            
                JP MORGANCHASE BANK
                7H6GLXDRUGQFU57RNE97
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                131317.52
                0.188981882976
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            JP MORGANCHASE BANK
                            7H6GLXDRUGQFU57RNE97
                        
                        132382.85
                        SGD
                        131317.52
                        USD
                        2022-05-18
                        1065.33
                    
                
                
                    N
                    N
                    N
                
            
            
                UBS AG
                BFM8T61CT2L1QCEMIK50
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                179163.67
                0.257838312188
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            UBS AG
                            BFM8T61CT2L1QCEMIK50
                        
                        175254.53
                        CAD
                        179163.67
                        USD
                        2022-04-20
                        -3909.14
                    
                
                
                    N
                    N
                    N
                
            
            
                CITIBANK N.A.
                E57ODZWZ7FF32TWEFA76
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                227633.84
                0.327592782077
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            CITIBANK N.A.
                            E57ODZWZ7FF32TWEFA76
                        
                        223418.6
                        CAD
                        227633.84
                        USD
                        2022-04-20
                        -4215.24
                    
                
                
                    N
                    N
                    N
                
            
            
                JP MORGANCHASE BANK
                7H6GLXDRUGQFU57RNE97
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                697378.57
                1.003612581975
                N/A
                DFE
                CORP
                US
                N
                
                2
                
                    
                        
                            JP MORGANCHASE BANK
                            7H6GLXDRUGQFU57RNE97
                        
                        688114.04
                        CAD
                        697378.57
                        USD
                        2022-04-20
                        -9264.53
                    
                
                
                    N
                    N
                    N
                
            
            
                NATWEST MARKETS PLC
                RR3QWICWWIPCS8A4S074
                CURRENCY FORWARDS
                N/A
                
                    
                
                1
                NC
                N/A
                153808.81
                0.221349584824
                N/A
                DFE
                CORP
                GB
                N
                
                2
                
                    
                        
                            NATWEST MARKETS PLC
                            RR3QWICWWIPCS8A4S074
                        
                        150963.6
                        CAD
                        153808.81
                        USD
                        2022-04-20
                        -2845.21
                    
                
                
                    N
                    N
                    N
                
            
            
                CHICAGO MERCANTILE EXCHANGE
                SNZ2OJLFK8MNNCLQOF39
                EQUITY INDEX FUTURE
                N/A
                
                    
                
                11
                NC
                USD
                2491912.5
                3.586165170203
                N/A
                DE
                CORP
                US
                N
                
                1
                
                    
                        
                            CHICAGO MERCANTILE EXCHANGE
                            SNZ2OJLFK8MNNCLQOF39
                        
                        Long
                        
                            
S&P 500 INDEX
SPX
                            
                        
                        2022-01-17
                        2358132.3
                        USD
                        133780.2
                    
                
                
                    N
                    N
                    N
                
            
            
                LULULEMON ATHLETICA INC
                549300D9GZ4BMLDW5T40
                ORDINARY SHARES
                550021109
                
                    
                
                223
                NS
                USD
                81446.29
                0.117211117341
                Long
                EC
                CORP
                CA
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                ASSURED GUARANTY LTD
                549300BBOQUJEPH87M14
                ORDINARY SHARES
                G0585R106
                
                    
                
                16403
                NS
                USD
                1044214.98
                1.502752360478
                Long
                EC
                CORP
                BM
                
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AXA SA
                F5WCUMTUM4RKZ1MAIE39
                ORDINARY SHARES
                N/A
                
                    
                
                10122
                NS
                
                295601.98
                0.425407202267
                Long
                EC
                CORP
                FR
                N
                
                2
                
                    N
                    N
                    N
                
            
            
                SHELL PLC
                21380068P1DRHMJ8KU70
                ORDINARY SHARES
                N/A
                
                    
                
                11923
                NS
                
                327211.87
                0.470897678579
                Long
                EC
                CORP
                GB
                N
                
                2
                
                    N
                    N
                    N
                
            
            
                ANGLO AMERICAN PLC
                549300S9XF92D1X8ME43
                ORDINARY SHARES
                N/A
                
                    
                
                2219
                NS
                
                114448.18
                0.164704850956
                Long
                EC
                CORP
                GB
                N
                
                2
                
                    N
                    N
                    N
                
            
            
                TOTAL S.A.
                529900S21EQ1BO4ESM68
                ORDINARY SHARES
                N/A
                
                    
                
                1078
                NS
                
                54696.36
                0.078714714569
                Long
                EC
                CORP
                FR
                N
                
                2
                
                    N
                    N
                    N
                
            
            
                PRUDENTIAL PLC
                5493001Z3ZE83NGK8Y12
                ORDINARY SHARES
                G72899100
                
                    
                
                26686
                NS
                
                394199.5
                0.567301025622
                Long
                EC
                CORP
                GB
                N
                
                2
                
                    N
                    N
                    N
                
            
            
                CAE INC
                549300FFM2BEH2GF1E44
                ORDINARY SHARES
                N/A
                
                    
                
                4181
                NS
                
                108826.73
                0.156614900689
                Long
                EC
                CORP
                CA
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AGNICO EAGLE MINES LTD
                YGE0EUBRF7IJOB3QRX76
                ORDINARY SHARES
                N/A
                
                    
                
                1948
                NS
                
                119203.3
                0.171548046985
                Long
                EC
                CORP
                CA
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                AIA GROUP LTD
                ZP5ILWVSYE4LJGMMVD57
                ORDINARY SHARES
                N/A
                
                    
                
                15600
                NS
                
                163323.16
                0.235041891671
                Long
                EC
                CORP
                HK
                N
                
                2
                
                    N
                    N
                    N
                
            
            
                ALAMOS GOLD INC
                549300TDOX73YGYXE959
                ORDINARY SHARES
                011532108
                
                    
                
                19716
                NS
                USD
                166008.72
                0.238906739147
                Long
                EC
                CORP
                CA
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                CENOVUS ENERGY INC
                549300F4XPHJ7NOSP309
                ORDINARY SHARES
                N/A
                
                    
                
                44223
                NS
                
                737197.39
                1.060916706980
                Long
                EC
                CORP
                CA
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                LINDE PLC
                8945002PAZHZLBGKGF02
                ORDINARY SHARES
                G5494J103
                
                    
                
                720
                NS
                USD
                229989.6
                0.330983007240
                Long
                EC
                CORP
                GB
                
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                QUILTER PLC
                54930092XIVK28RZGM95
                ORDINARY SHARES
                N/A
                
                    
                
                132689
                NS
                
                246442.7
                0.354661019274
                Long
                EC
                CORP
                GB
                N
                
                2
                
                    N
                    N
                    N
                
            
            
                GOLDMAN SACHS INTERNATIONAL
                W22LROWP2IHZNBB6K528
                OTC EQUITY OPTION
                N/A
                
                    
                
                52
                NC
                USD
                254.82
                0.000366716973
                N/A
                DE
                CORP
                US
                N
                
                2
                
                    
                        
                            GOLDMAN SACHS INTERNATIONAL
                            W22LROWP2IHZNBB6K528
                        
                        Put
                        Written
                        
                            
THERMO FISHER SCIENTIFIC INC
COMMON STOCK

    

                            
                        
                        1
                        500
                        USD
                        2022-06-17
                        XXXX
                        592.78
                    
                
                
                    N
                    N
                    N
                
            
            
                PUTNAM SHORT TERM INVESTMENT FUND
                5493003MK0Q7JP8CPP42
                SHORT TERM INV FUND
                74676P664
                
                    
                
                3692397
                NS
                USD
                3692397
                5.313808376482
                Long
                STIV
                PF
                US
                N
                
                2
                
                    N
                    N
                    N
                
            
            
                GOGREEN INVESTMENTS CORP
                N/A
                STOCK UNIT
                G9461B127
                
                    
                
                7909
                OU
                USD
                79880.9
                0.114958330738
                Long
                EC
                CORP
                US
                N
                
                1
                
                    N
                    N
                    N
                
            
            
                UNITED STATES OF AMERICA
                254900HROIFWPRGM1V77
                U.S. T BILLS
                912796U23
                
                    
                
                200000
                PA
                USD
                199981.77
                0.287798090121
                Long
                DBT
                UST
                US
                N
                
                2
                
                    2022-04-26
                    Fixed
                    0
                    N
                    N
                    N
                
                
                    N
                    N
                    N
                
            
        
        
            
            
            
            
            
        
        
            2022-05-25
            Putnam Investments Inc
            Janet C. Smith
            NPORT
            Principal Financial Officer
        
    
    XXXX
Putnam VT Research Fund
The fund's portfolio
3/31/22 (Unaudited)


COMMON STOCKS (94.5%)(a)
        Shares Value
Aerospace and defense (2.4%)
Boeing Co. (The)(NON) 521 $99,772
CAE, Inc. (Canada)(NON) 4,181 108,827
General Dynamics Corp. 411 99,125
Northrop Grumman Corp. 1,571 702,583
Raytheon Technologies Corp. 6,499 643,856
1,654,163
Airlines (0.3%)
Southwest Airlines Co.(NON) 4,650 212,970
212,970
Automobiles (2.0%)
General Motors Co.(NON) 2,496 109,175
Tesla, Inc.(NON) 1,200 1,293,120
1,402,295
Banks (3.0%)
Bank of America Corp. 18,800 774,936
Citigroup, Inc. 19,584 1,045,786
Silvergate Capital Corp. Class A(NON) 1,659 249,796
2,070,518
Beverages (2.3%)
Coca-Cola Co. (The) 10,487 650,194
Constellation Brands, Inc. Class A 271 62,417
PepsiCo, Inc. 5,393 902,680
1,615,291
Biotechnology (2.9%)
AbbVie, Inc. 5,743 930,998
Amgen, Inc. 696 168,307
Ascendis Pharma A/S ADR (Denmark)(NON) 1,633 191,649
Ironwood Pharmaceuticals, Inc.(NON) 11,052 139,034
Regeneron Pharmaceuticals, Inc.(NON) 852 595,054
2,025,042
Building products (0.8%)
Johnson Controls International PLC 8,572 562,066
562,066
Capital markets (2.5%)
Charles Schwab Corp. (The) 4,220 355,788
Goldman Sachs Group, Inc. (The) 2,505 826,901
KKR & Co., Inc. 5,381 314,627
Quilter PLC (United Kingdom) 132,689 246,443
1,743,759
Chemicals (1.7%)
Corteva, Inc. 6,227 357,928
Eastman Chemical Co. 1,215 136,153
Linde PLC 720 229,990
PPG Industries, Inc. 1,316 172,488
Sherwin-Williams Co. (The) 1,102 275,081
1,171,640
Construction materials (0.2%)
CRH PLC ADR (Ireland) 2,849 114,131
114,131
Containers and packaging (0.4%)
Avery Dennison Corp. 1,625 282,701
282,701
Diversified financial services (0.8%)
Apollo Global Management, Inc. 8,640 535,594
535,594
Electric utilities (2.5%)
American Electric Power Co., Inc. 2,377 237,153
NextEra Energy, Inc. 4,389 371,792
NRG Energy, Inc. 28,561 1,095,600
1,704,545
Electrical equipment (0.5%)
Emerson Electric Co. 3,213 315,035
315,035
Electronic equipment, instruments, and components (0.3%)
Vontier Corp. 8,731 221,680
221,680
Entertainment (0.7%)
Sea, Ltd. ADR (Singapore)(NON) 612 73,311
Walt Disney Co. (The)(NON) 2,777 380,893
454,204
Equity real estate investment trusts (REITs) (1.0%)
Gaming and Leisure Properties, Inc.(R) 11,432 536,504
Vornado Realty Trust(R) 3,823 173,258
709,762
Food and staples retail (1.5%)
BJ's Wholesale Club Holdings, Inc.(NON) 777 52,533
Costco Wholesale Corp. 612 352,420
Walmart, Inc. 4,393 654,206
1,059,159
Food products (0.3%)
McCormick & Co., Inc. (non-voting shares) 1,776 177,245
177,245
Health-care equipment and supplies (2.3%)
Abbott Laboratories 2,362 279,566
Baxter International, Inc. 1,485 115,147
Boston Scientific Corp.(NON) 8,457 374,561
Cooper Cos., Inc. (The) 242 101,057
DexCom, Inc.(NON) 378 193,385
Edwards Lifesciences Corp.(NON) 442 52,032
Intuitive Surgical, Inc.(NON) 794 239,534
Medtronic PLC 2,128 236,102
1,591,384
Health-care providers and services (3.5%)
Anthem, Inc. 1,175 577,184
Cardinal Health, Inc. 1,242 70,421
Cigna Corp. 1,202 288,011
CVS Health Corp. 1,716 173,676
McKesson Corp. 557 170,514
UnitedHealth Group, Inc. 2,348 1,197,410
2,477,216
Hotels, restaurants, and leisure (2.0%)
Aramark 3,790 142,504
Booking Holdings, Inc.(NON) 225 528,401
Chipotle Mexican Grill, Inc.(NON) 161 254,707
Hilton Worldwide Holdings, Inc.(NON) 2,099 318,502
Penn National Gaming, Inc.(NON) 3,781 160,390
1,404,504
Household durables (0.5%)
PulteGroup, Inc. 8,627 361,471
361,471
Household products (1.7%)
Procter & Gamble Co. (The) 7,596 1,160,669
1,160,669
Industrial conglomerates (0.9%)
General Electric Co. 1,726 157,929
Honeywell International, Inc. 2,236 435,081
593,010
Insurance (2.7%)
AIA Group, Ltd. (Hong Kong) 15,600 163,323
Assured Guaranty, Ltd. 16,403 1,044,215
AXA SA (France) 10,122 295,602
Prudential PLC (United Kingdom) 26,686 394,200
1,897,340
Interactive media and services (5.1%)
Alphabet, Inc. Class A(NON) 961 2,672,877
Meta Platforms, Inc. Class A(NON) 3,825 850,527
3,523,404
Internet and direct marketing retail (5.2%)
Amazon.com, Inc.(NON) 1,136 3,703,303
3,703,303
IT Services (4.9%)
Fidelity National Information Services, Inc. 10,201 1,024,384
Mastercard, Inc. Class A 4,285 1,531,373
PayPal Holdings, Inc.(NON) 1,930 223,205
Visa, Inc. Class A 2,887 640,250
3,419,212
Life sciences tools and services (2.3%)
Avantor, Inc.(NON) 5,316 179,787
Bio-Rad Laboratories, Inc. Class A(NON) 353 198,820
Danaher Corp. 1,868 547,940
Illumina, Inc.(NON) 438 153,037
Thermo Fisher Scientific, Inc. 892 526,860
1,606,444
Machinery (1.5%)
Deere & Co. 713 296,223
Ingersoll Rand, Inc. 4,023 202,558
Otis Worldwide Corp. 6,755 519,797
1,018,578
Metals and mining (0.6%)
Agnico-Eagle Mines, Ltd. (Canada) 1,948 119,203
Alamos Gold, Inc. Class A (Canada) 19,716 166,009
Anglo American PLC (United Kingdom) 2,219 114,448
399,660
Multi-utilities (0.3%)
Ameren Corp. 2,359 221,180
221,180
Multiline retail (0.7%)
Target Corp. 2,184 463,488
463,488
Oil, gas, and consumable fuels (3.8%)
Cenovus Energy, Inc. (Canada) 44,223 737,197
ConocoPhillips 3,405 340,500
Exxon Mobil Corp. 14,399 1,189,213
Shell PLC (United Kingdom) 11,923 327,212
TotalEnergies SE (France) 1,078 54,696
2,648,818
Personal products (0.2%)
Olaplex Holdings, Inc.(NON) 8,629 134,871
134,871
Pharmaceuticals (3.0%)
4Front Ventures Corp.(NON) 155,390 124,312
Bristol-Myers Squibb Co. 2,165 158,110
Eli Lilly and Co. 1,253 358,822
Johnson & Johnson 3,852 682,690
Merck & Co., Inc. 4,116 337,718
Pfizer, Inc. 8,283 428,811
2,090,463
Professional services (0.1%)
Booz Allen Hamilton Holding Corp. 1,149 100,928
100,928
Road and rail (2.0%)
CSX Corp. 5,768 216,012
Union Pacific Corp. 4,362 1,191,742
1,407,754
Semiconductors and semiconductor equipment (3.7%)
Advanced Micro Devices, Inc.(NON) 7,926 866,629
NVIDIA Corp. 2,786 760,188
Qualcomm, Inc. 6,231 952,221
2,579,038
Software (11.4%)
Adobe, Inc.(NON) 1,425 649,259
Intuit, Inc. 1,821 875,610
Microsoft Corp. 14,471 4,461,551
Oracle Corp. 12,304 1,017,910
salesforce.com, Inc.(NON) 3,052 648,001
Unity Software, Inc.(NON) 2,931 290,785
7,943,116
Specialty retail (2.7%)
Bath & Body Works, Inc. 1,341 64,100
Burlington Stores, Inc.(NON) 355 64,670
CarMax, Inc.(NON) 1,754 169,226
Home Depot, Inc. (The) 3,995 1,195,823
O'Reilly Automotive, Inc.(NON) 345 236,311
TJX Cos., Inc. (The) 1,530 92,687
Warby Parker, Inc. Class A(NON) 1,704 57,612
1,880,429
Technology hardware, storage, and peripherals (4.9%)
Apple, Inc. 19,501 3,405,070
3,405,070
Textiles, apparel, and luxury goods (0.5%)
Levi Strauss & Co. Class A 3,877 76,610
Lululemon Athletica, Inc. (Canada)(NON) 223 81,446
Nike, Inc. Class B 1,622 218,256
376,312
Tobacco (0.2%)
Altria Group, Inc. 2,622 137,000
137,000
Trading companies and distributors (0.4%)
United Rentals, Inc.(NON) 698 247,937
247,937
Wireless telecommunication services (1.3%)
T-Mobile US, Inc.(NON) 7,076 908,205
908,205
Total common stocks (cost $48,964,593) $65,732,604








UNITS (0.1%)(a)
        Units Value
GoGreen Investments Corp.(NON) 7,909 $79,881
Total units (cost $79,090) $79,881








SHORT-TERM INVESTMENTS (5.6%)(a)
        Principal amount/shares Value
Putnam Short Term Investment Fund Class P 0.39%(AFF) Shares 3,692,397 $3,692,397
U.S. Treasury Bills 0.183%, 4/26/22(SEG) $200,000 199,982
Total short-term investments (cost $3,892,372) $3,892,379
TOTAL INVESTMENTS
Total investments (cost $52,936,055) $69,704,864








FORWARD CURRENCY CONTRACTS at 3/31/22 (aggregate face value $3,763,153) (Unaudited)
  Counterparty Currency Contract type* Delivery
date		 Value Aggregate face value Unrealized
appreciation/
(depreciation)
Bank of America N.A.
Danish Krone Sell 6/15/22 $174,312 $174,057 $(255)
Euro Sell 6/15/22 183,912 184,557 645
Barclays Bank PLC
British Pound Sell 6/15/22 163,371 166,462 3,091
Euro Sell 6/15/22 272,872 273,797 925
Citibank, N.A.
Canadian Dollar Sell 4/20/22 227,634 223,419 (4,215)
Euro Sell 6/15/22 10,760 10,798 38
Goldman Sachs International
British Pound Sell 6/15/22 814,095 829,501 15,406
Euro Sell 6/15/22 162,060 162,530 470
HSBC Bank USA, National Association
Euro Sell 6/15/22 108,151 108,523 372
JPMorgan Chase Bank N.A.
Canadian Dollar Sell 4/20/22 697,379 688,115 (9,264)
Singapore Dollar Sell 5/18/22 131,318 132,383 1,065
Morgan Stanley & Co. International PLC
Euro Sell 6/15/22 101,495 101,834 339
NatWest Markets PLC
Canadian Dollar Sell 4/20/22 153,809 150,964 (2,845)
State Street Bank and Trust Co.
Euro Buy 6/15/22 261,780 261,482 298
Hong Kong Dollar Sell 5/18/22 118,884 119,476 592
UBS AG
Canadian Dollar Sell 4/20/22 179,164 175,255 (3,909)
Unrealized appreciation 23,241
Unrealized (depreciation) (20,488)
Total $2,753
* The exchange currency for all contracts listed is the United States Dollar.








FUTURES CONTRACTS OUTSTANDING at 3/31/22 (Unaudited)
    Number of contracts Notional
amount		 Value Expiration date Unrealized
appreciation/
(depreciation)
S&P 500 Index E-Mini (Long) 11 $2,491,726 $2,491,913 Jun-22 $133,780
Unrealized appreciation 133,780
Unrealized (depreciation) —
Total $133,780








WRITTEN OPTIONS OUTSTANDING at 3/31/22 (premiums $848) (Unaudited)
  Counterparty Expiration date/
strike price		 Notional
amount		   Contract amount Value
Goldman Sachs International
Thermo Fisher Scientific, Inc. (Put) Jun-22/$500.00 $30,714 $52 $255
Total $255












Key to holding's abbreviations
ADR American Depository Receipts: Represents ownership of foreign securities on deposit with a custodian bank.
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 January 1, 2022 through March 31, 2022 (the reporting period). Within the following notes to the portfolio, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC, references to "ASC 820" represent Accounting Standards Codification 820 Fair Value Measurements and Disclosures and references to "OTC", if any, represent over-the-counter.
(a) Percentages indicated are based on net assets of $69,531,424.
(NON) This security is non-income-producing.
(AFF) Affiliated company. For investments in Putnam Short Term Investment Fund, the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with any company which is under common ownership or control were as follows:
Name of affiliate Fair value
as of
12/31/21		 Purchase
cost		 Sale
proceeds		 Investment
income		 Shares outstanding
and fair
value as of
3/31/22
Short-term investments
Putnam Cash Collateral Pool, LLC*# $875,550 $1,013,275 $1,888,825 $256 $—
Putnam Short Term Investment Fund** 3,101,912 4,011,470 3,420,985 819 3,692,397
Total Short-term investments $3,977,462 $5,024,745 $5,309,810 $1,075 $3,692,397
* The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The remaining maturities of the securities lending transactions are considered overnight and continuous. The risk of borrower default will be borne by the fund’s agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. The fund receives cash collateral, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC and there were no realized or unrealized gains or losses during the period.
# At the close of the reporting period, the fund did not have any securities on loan.
** Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management. There were no realized or unrealized gains or losses during the period.
(SEG) This security, in part or in entirety, was pledged and segregated with the broker to cover margin requirements for futures contracts at the close of the reporting period. Collateral at period end totaled $136,986.
(R) Real Estate Investment Trust.
At the close of the reporting period, the fund maintained liquid assets totaling $48,687 to cover certain derivative contracts.
Unless otherwise noted, the rates quoted in Short-term investments security descriptions represent the weighted average yield to maturity.
The dates shown on debt obligations are the original maturity dates.
Security valuation: Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund’s assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee.
Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security.
Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares.
Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2.
Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. At the close of the reporting period, fair value pricing was used for certain foreign securities in the portfolio. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate.
To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs.
To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.
Options contracts: The fund used options contracts to hedge against changes in values of securities it owns, owned or expects to own.
The potential risk to the fund is that the change in value of options contracts may not correspond to the change in value of the hedged instruments. In addition, losses may arise from changes in the value of the underlying instruments if there is an illiquid secondary market for the contracts, if interest or exchange rates move unexpectedly or if the counterparty to the contract is unable to perform. Realized gains and losses on purchased options are included in realized gains and losses on investment securities. If a written call option is exercised, the premium originally received is recorded as an addition to sales proceeds. If a written put option is exercised, the premium originally received is recorded as a reduction to the cost of investments.
Exchange-traded options are valued at the last sale price or, if no sales are reported, the last bid price for purchased options and the last ask price for written options. OTC traded options are valued using prices supplied by dealers.
Options on swaps are similar to options on securities except that the premium paid or received is to buy or grant the right to enter into a previously agreed upon interest rate or credit default contract. Forward premium swap options contracts include premiums that have extended settlement dates. The delayed settlement of the premiums is factored into the daily valuation of the option contracts. In the case of interest rate cap and floor contracts, in return for a premium, ongoing payments between two parties are based on interest rates exceeding a specified rate, in the case of a cap contract, or falling below a specified rate in the case of a floor contract.
For the fund's average contract amount on options contracts, see the appropriate table at the end of these footnotes.
Futures contracts: The fund used futures contracts to equitize cash.
The potential risk to the fund is that the change in value of futures contracts may not correspond to the change in value of the hedged instruments. In addition, losses may arise from changes in the value of the underlying instruments, if there is an illiquid secondary market for the contracts, if interest or exchange rates move unexpectedly or if the counterparty to the contract is unable to perform. With futures, there is minimal counterparty credit risk to the fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade. The fund and the broker agree to exchange an amount of cash equal to the daily fluctuation in the value of the futures contract. Such receipts or payments are known as “variation margin”.
For the fund's average number of futures contracts, see the appropriate table at the end of these footnotes.
Forward currency contracts: The fund buys and sells forward currency contracts, which are agreements between two parties to buy and sell currencies at a set price on a future date. These contracts were used to hedge foreign exchange risk.
The U.S. dollar value of forward currency contracts is determined using current forward currency exchange rates supplied by a quotation service. The fair value of the contract will fluctuate with changes in currency exchange rates. The contract is marked to market daily and the change in fair value is recorded as an unrealized gain or loss. The fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed when the contract matures or by delivery of the currency. The fund could be exposed to risk if the value of the currency changes unfavorably, if the counterparties to the contracts are unable to meet the terms of their contracts or if the fund is unable to enter into a closing position.
For the fund's average contract amount on forward currency contracts, see the appropriate table at the end of these footnotes.
Master agreements: The fund is a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements (Master Agreements) with certain counterparties that govern OTC derivative and foreign exchange contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral posted to the fund is held in a segregated account by the fund’s custodian and, with respect to those amounts which can be sold or repledged, is presented in the fund’s portfolio.
Collateral pledged by the fund is segregated by the fund’s custodian and identified in the fund’s portfolio. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by the fund and the applicable counterparty. Collateral requirements are determined based on the fund’s net position with each counterparty.
Termination events applicable to the fund may occur upon a decline in the fund’s net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty’s long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the fund’s counterparties to elect early termination could impact the fund’s future derivative activity.
At the close of the reporting period, the fund had a net liability position of $19,130 on open derivative contracts subject to the Master Agreements. There was no collateral posted by the fund at period end for these agreements.








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:
Level 1: Valuations based on quoted prices for identical securities in active markets.
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.
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:
  Valuation inputs
Investments in securities: Level 1 Level 2 Level 3
Common stocks*:
Communication services $4,885,813 $— $—
Consumer discretionary 9,591,802 — —
Consumer staples 4,284,235 — —
Energy 2,266,910 381,908 —
Financials 5,147,643 1,099,568 —
Health care 9,790,549 — —
Industrials 6,112,441 — —
Information technology 17,568,116 — —
Materials 1,853,684 114,448 —
Real estate 709,762 — —
Utilities 1,925,725 — —
Total common stocks 64,136,680 1,595,924 —
Units 79,881 — —
Short-term investments — 3,892,379 —
Totals by level $64,216,561 $5,488,303 $—
  Valuation inputs
Other financial instruments: Level 1 Level 2 Level 3
Forward currency contracts $— $2,753 $—
Futures contracts 133,780 — —
Written options outstanding — (255) —
Totals by level $133,780 $2,498 $—
* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation.
The volume of activity for the reporting period for any derivative type that was held at the close of the period is listed below and was based on an average of the holdings of that derivative at the end of each fiscal quarter in the reporting period:
Written equity option contracts (contract amount) $40
Futures contracts (number of contracts) 10
Forward currency contracts (contract amount) $4,900,000
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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