March - Putnam Investments

Note 8: Summary of derivative activityThe volume of activity for the reporting period for any derivative type that was held during the period is listedbelow and was as follows based on an average of the holdings at the end of each fiscal quarter:Purchased equity option contracts (contract amount ) $100,000Written equity option contracts (contract amount ) (Note 3 ) $100,000Written swap option contracts (contract amount ) (Note 3 ) $1,300,000Futures contracts (number of contracts ) 7,000Forward currency contracts (contract amount ) $595,400,000OTC interest rate swap contracts (notional) $4,300,000Centrally cleared interest rate swap contracts (notional) $141,400,000OTC total return swap contracts (notional) $182,300,000OTC credit default contracts (notional) $14,300,000Centrally cleared credit default contracts (notional) $89,600,000Warrants (number of warrants ) 3,800,000The following is a summary of the fair value of derivative instruments as of the close of the reporting period:Fair value of derivative instruments as of the close of the reporting periodDerivatives notaccounted for ashedging instrumentsunder ASC 815Asset derivativesStatement ofassets andliabilities locationFair valueLiability derivativesStatement ofassets andliabilities locationFair valueCredit contractsReceivables,Net assets —Unrealizedappreciation $6,238,167 * Payables $24,876Foreignexchange contracts Receivables 2,651,642 Payables 1,619,023Equity contractsInvestments,Receivables,Net assets —Unrealizedappreciation 4,176,598 *Payables,Net assets —Unrealizeddepreciation 2,885,018 *Interest rate contracts Receivables 517,623 *Payables,Net assets —Unrealizeddepreciation 1,040,262 *Total $13,584,030 $5,569,179* Includes cumulative appreciation/depreciation of futures contracts and centrally cleared swaps as reported in thefund’s portfolio. Only current day’s variation margin is reported within the Statement of assets and liabilities.114 Dynamic Asset Allocation Growth Fund