0000869392-24-001236.txt : 20240628 0000869392-24-001236.hdr.sgml : 20240628 20240628111001 ACCESSION NUMBER: 0000869392-24-001236 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240430 FILED AS OF DATE: 20240628 DATE AS OF CHANGE: 20240628 PERIOD START: 20240731 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Putnam Target Date Funds CENTRAL INDEX KEY: 0001295293 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21598 FILM NUMBER: 241082705 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: Putnam RetirementReady Funds DATE OF NAME CHANGE: 20040624 0001295293 S000004001 Putnam Sustainable Retirement 2025 Fund C000011177 Class A Shares C000011178 Class B Shares C000011179 Class C Shares C000011181 Class R Shares C000011182 Class Y Shares C000174680 Class R6 Shares C000222449 Class R3 Shares C000222450 Class R4 Shares C000222451 Class R5 Shares NPORT-P 1 primary_doc.xml NPORT-P false 0001295293 XXXXXXXX S000004001 C000222449 C000174680 C000222451 C000222450 C000011177 C000011178 C000011179 C000011182 C000011181 Putnam Target Date Funds 811-21598 0001295293 5493005X9RIMZKJNE675 100 FEDERAL STREET BOSTON 02110 1-800-225-1581 Putnam Sustainable Retirement 2025 Fund S000004001 5493001XQVUH17DVZ943 2024-07-31 2024-04-30 N 243849797.53 939201.90 242910595.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.75 N PUTNAM SUSTAINABLE LEADERS ETF 5493001OLEMXT8OPWE88 EXCHANGE TRADED FUND 746729102 1230235 NS USD 36235710.76 14.917303490823 Long EC RF US N 1 N N N PUTNAM SUSTAINABLE FUTURE ETF 549300D5SWQ6IG0LO281 EXCHANGE TRADED FUND 746729201 786568 NS USD 18047645.45 7.429748135908 Long EC RF US N 1 N N N PUTNAM PANAGORA ESG INTERNATIONAL EQUITY ETF 549300JZREZTV1HA5N68 EXCHANGE TRADED FUND 746729870 496034 NS USD 11068701.09 4.556697521468 Long EC RF US N 1 N N N PUTNAM ESG HIGH YIELD ETF 549300AFYICW7OFX8A68 EXCHANGE TRADED FUND 746729888 672315 NS USD 33669535.2 13.860875485510 Long EC RF US N 1 N N N PUTNAM ESG CORE BOND ETF 549300WPUCAJ9XFIRU61 EXCHANGE TRADED FUND 746729607 2688668 NS USD 126721224.71 52.167845699180 Long EC RF US N 1 N N N PUTNAM ESG ULTRA SHORT ETF 549300NQ9F4P4U3AVO48 EXCHANGE TRADED FUND 746729854 281092 NS USD 14174064.1 5.835095033143 Long EC RF US N 1 N N N PUTNAM GOVERNMENT MONEY MARKET FUND 549300SEUI2XMME8T893 SHORT TERM INV FUND 74680A802 1449320 NS USD 1449320 0.596647501646 Long STIV PF US N 1 N N N 2024-06-28 Putnam Target Date Funds Janet C. Smith Janet C. Smith Principal Financial Officer XXXX NPORT-EX 2 b_49knport043024.htm QUARTERLY PORTFOLIO HOLDINGS
Putnam Sustainable Retirement 2025 Fund
The fund's portfolio
4/30/24 (Unaudited)


FIXED INCOME INVESTMENT COMPANIES (72.4%)(a)
        Shares Value
Putnam ESG Core Bond ETF(AFF) 2,713,389 $127,886,365
Putnam ESG High Yield ETF(AFF) 678,424 33,975,474
Putnam ESG Ultra Short ETF(AFF) 283,739 14,307,538
Total fixed income investment companies (cost $180,688,487) $176,169,377








EQUITY INVESTMENT COMPANIES (27.1%)(a)
        Shares Value
Putnam PanAgora ESG International Equity ETF(AFF) 500,578 $11,170,098
Putnam Sustainable Future ETF(AFF) 793,894 18,215,739
Putnam Sustainable Leaders ETF(AFF) 1,241,637 36,571,549
Total equity investment companies (cost $57,417,258) $65,957,386








SHORT-TERM INVESTMENTS (0.6%)(a)
        Shares Value
Putnam Government Money Market Fund Class G 5.04%(AFF) 1,449,320 $1,449,320
Total short-term investments (cost $1,449,320) $1,449,320
TOTAL INVESTMENTS
Total investments (cost $239,555,065) $243,576,083












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 August 1, 2023 through April 30, 2024 (the reporting period). Within the following notes to the portfolio, references to "ASC 820" represent Accounting Standards Codification ASC 820 Fair Value Measurements and Disclosures.
(a) Percentages indicated are based on net assets of $243,253,409.
Security valuation: The price of each fund’s shares is based on its net asset value (NAV), which in turn will be generally based on the last sale price or closing price of the underlying Putnam ETFs in which it invests (and in the case of Putnam Government Money Market Fund, based on its NAV), which are classified as Level 1 or Level 2 securities under Accounting Standards Codification Fair Value Measurements and Disclosures (ASC 820). The NAVs of the underlying Putnam ETFs are determined based on the policies contained in each underlying Putnam ETF’s financial statements. The NAV per share of each class equals the total value of its assets, less its liabilities, divided by the number of its outstanding shares. Shares are only valued as of the close of regular trading on the New York Stock Exchange each day the exchange is open.
ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows:
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
Equity Investment Companies     $65,957,386 $— $—
Fixed Income Investment Companies     176,169,377 — —
Short-Term Investments     1,449,320 — —
         
Totals by level     $243,576,083 $— $—
Affiliated transactions
(AFF) Affiliated company. For investments in Putnam Government Money Market Fund Class G, 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 reporting period with a company which is under common ownership or control, or involving securities of companies in which a fund owned at least 5% of the voting securities, were as follows:
Affiliates Fair value as of 7/31/23 Purchase cost Sale proceeds Investment income Capital gain distributions Realized gain (loss) Change in unrealized appreciation (depreciation) Shares outstanding as of 4/30/24 Fair value as of 4/30/24
Putnam PanAgora ESG International Equity ETF $10,156,141 $2,677,231 $2,081,487 $332,766 $— $124,876 $293,337 500,578 $11,170,098
Putnam Sustainable Future ETF 12,565,897 8,437,169 5,027,884 — — 890,938 1,349,619 793,894 18,215,739
Putnam Sustainable Leaders ETF 29,542,481 17,248,740 16,140,539 173,841 — 3,372,201 2,548,666 1,241,637 36,571,549
Putnam ESG Core Bond ETF 110,596,484 42,984,666 22,200,087 4,006,956 53,066 (656,744) (2,837,954) 2,713,389 127,886,365
Putnam ESG High Yield ETF 23,731,926 13,470,832 3,113,825 1,592,885 — (8,062) (105,397) 678,424 33,975,474
Putnam ESG Ultra Short ETF 20,480,502 10,255,964 16,446,112 754,923 — 32,778 (15,594) 283,739 14,307,538
Putnam Government Money Market Fund Class G* — 48,481,323 47,032,003 28,983 — — — 1,449,320 1,449,320
Putnam Government Money Market Fund Class P* 101,553 3,724,640 3,826,193 5,389 — — — — —
Totals $207,174,984 $147,280,565 $115,868,130 $6,895,743 $53,066 $3,755,987 $1,232,677 — $243,576,083
* Management fees incurred through investment in Putnam Government Money Market Fund have been waived by the fund.
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.putnam.com