0000928816-18-001840.txt : 20180828 0000928816-18-001840.hdr.sgml : 20180828 20180828151156 ACCESSION NUMBER: 0000928816-18-001840 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180630 FILED AS OF DATE: 20180828 DATE AS OF CHANGE: 20180828 EFFECTIVENESS DATE: 20180828 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MONEY MARKET FUND CENTRAL INDEX KEY: 0000081248 IRS NUMBER: 046386436 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-02608 FILM NUMBER: 181041480 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A-14 LEGAL DEPARTMENT CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921471 MAIL ADDRESS: STREET 1: MAILSTOP A-14 LEGAL DEPARTMENT STREET 2: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM DAILY DIVIDEND TRUST DATE OF NAME CHANGE: 19920703 0000081248 S000006251 PUTNAM MONEY MARKET FUND C000017191 Class T1 Shares C000017192 Class A Shares PDDXX C000017193 Class B Shares PTBXX C000017194 Class C Shares PFCXX C000017195 Class M Shares PTMXX C000017196 Class R Shares PURXX N-Q 1 a_moneymarket.htm PUTNAM MONEY MARKET FUND a_moneymarket.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY



Investment Company Act file number: (811-02608)
Exact name of registrant as specified in charter: Putnam Money Market Fund
Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109
Name and address of agent for service: Robert T. Burns, Vice President
One Post Office Square
Boston, Massachusetts 02109
Copy to:         Bryan Chegwidden, Esq.
Ropes & Gray LLP
1211 Avenue of the Americas
New York, New York 10036
Registrant's telephone number, including area code: (617) 292-1000
Date of fiscal year end: September 30, 2018
Date of reporting period: June 30, 2018



Item 1. Schedule of Investments:













Putnam Money Market Fund

The fund's portfolio
6/30/18 (Unaudited)
REPURCHASE AGREEMENTS (38.5%)(a)
Principal amount Value
Interest in $118,000,000 joint tri-party repurchase agreement dated 6/29/18 with BNP Paribas due 7/2/18 - maturity value of $99,017,490 for an effective yield of 2.120% (collateralized by various U.S. Treasury notes and bonds and various mortgage backed securities with coupon rates ranging from 1.375% to 6.000% and due dates ranging from 1/31/20 to 5/1/56, valued at $120,381,264) $99,000,000 $99,000,000
Interest in $362,000,000 joint tri-party repurchase agreement dated 6/29/18 with Citigroup Global Markets, Inc. due 7/2/18 - maturity value of $98,685,431 for an effective yield of 2.120% (collateralized by various U.S. Treasury notes with coupon rates ranging from 1.125% to 1.750% and due dates ranging from 8/31/19 to 8/31/23, valued at $369,240,001) 98,668,000 98,668,000
Interest in $236,577,000 joint tri-party repurchase agreement dated 6/29/18 with Merrill Lynch, Pierce, Fenner & Smith, Inc. due 7/2/18 - maturity value of $98,017,232 for an effective yield of 2.110% (collateralized by various mortgage backed securities with coupon rates ranging from 2.206% to 4.500% and due dates ranging from 2/1/33 to 6/1/48, valued at $241,308,540) 98,000,000 98,000,000
Total repurchase agreements (cost $295,668,000) $295,668,000

CERTIFICATES OF DEPOSIT (27.6%)(a)
Yield (%) Maturity date Principal amount Value
Bank of America, NA FRN 2.401 10/3/18 $4,000,000 $4,000,000
Bank of America, NA FRN 2.128 8/21/18 8,000,000 8,000,000
Bank of Montreal/Chicago, IL FRN (Canada) 2.361 2/25/19 7,500,000 7,500,000
Bank of Montreal/Chicago, IL FRN (Canada) 2.246 7/12/18 4,000,000 4,000,002
Bank of Montreal/Chicago, IL FRN (Canada) 2.226 7/9/18 8,500,000 8,499,998
Bank of Nova Scotia/Houston FRN 2.487 9/14/18 4,500,000 4,500,000
BNP Paribas SA/New York, NY FRN (France) 2.435 9/17/18 3,500,000 3,501,454
BNP Paribas SA/New York, NY FRN (France) 2.285 7/16/18 4,000,000 4,000,047
Canadian Imperial Bank of Commerce/New York, NY FRN 2.342 12/28/18 6,500,000 6,500,000
Citibank, NA 2.330 10/23/18 7,500,000 7,500,000
Citibank, NA FRN 2.364 8/30/18 8,000,000 8,000,000
Cooperatieve Rabobank UA/NY FRN (Netherlands) 2.462 10/1/18 8,000,000 8,000,000
Credit Suisse AG/New York, NY FRN 2.345 7/18/18 4,000,000 3,999,888
Lloyds Bank PLC/New York, NY FRN (United Kingdom) 2.266 8/13/18 8,000,000 8,000,000
Mitsubishi UFJ Trust & Banking Corp./NY FRN 2.384 8/22/18 7,000,000 7,000,000
Mizuho Bank, Ltd./NY 2.340 7/6/18 3,250,000 3,250,000
Mizuho Bank, Ltd./NY FRN 2.384 8/21/18 4,000,000 4,000,650
Nordea Bank AB/New York, NY 2.170 8/27/18 8,000,000 8,000,000
Nordea Bank AB/New York, NY FRN 2.457 3/14/19 4,000,000 4,000,000
Nordea Bank AB/New York, NY FRN 2.401 5/21/19 7,500,000 7,499,746
Royal Bank of Canada/New York, NY FRN (Canada) 2.255 12/7/18 3,000,000 3,000,000
Skandinaviska Enskilda Banken AB/New York, NY FRN 2.415 10/17/18 5,000,000 5,000,000
Skandinaviska Enskilda Banken AB/New York, NY FRN 2.196 7/10/18 6,000,000 6,000,000
Societe Generale/New York, NY FRN (France) 2.246 7/9/18 4,000,000 3,999,970
State Street Bank & Trust Co. 2.230 8/30/18 7,750,000 7,750,000
Sumitomo Mitsui Banking Corp./New York FRN (Japan) 2.417 8/13/18 8,000,000 8,000,000
Svenska Handelsbanken/New York, NY FRN (Sweden) 2.291 2/4/19 7,000,000 7,000,000
Svenska Handelsbanken/New York, NY FRN (Sweden) 2.173 9/6/18 5,500,000 5,500,000
Svenska Handelsbanken/New York, NY FRN (Sweden) 2.141 7/2/18 8,000,000 7,999,996
Swedbank AB/New York FRN 2.213 11/6/18 7,000,000 7,000,000
U.S. Bank, NA/Cincinnati, OH 2.093 7/23/18 8,000,000 8,000,000
Wells Fargo Bank, NA FRN 2.335 11/16/18 7,000,000 7,000,000
Wells Fargo Bank, NA FRN 2.305 11/15/18 2,500,000 2,500,000
Wells Fargo Bank, NA FRN 2.215 8/7/18 4,000,000 4,000,000
Wells Fargo Bank, NA FRN 2.136 7/2/18 7,000,000 7,000,002
Westpac Banking Corp./NY (Australia) 2.100 7/20/18 2,600,000 2,599,158
Total certificates of deposit (cost $212,100,911) $212,100,911

COMMERCIAL PAPER (23.3%)(a)
Yield (%) Maturity date Principal amount Value
Australia & New Zealand Banking Group, Ltd. 144A (Australia) 2.331 10/16/18 $4,000,000 $4,000,000
Australia & New Zealand Banking Group, Ltd. 144A (Australia) 2.275 3/7/19 3,000,000 2,999,859
Australia & New Zealand Banking Group, Ltd. 144A (Australia) 2.151 8/29/18 8,000,000 7,999,993
BPCE SA (France) 2.344 7/9/18 4,000,000 3,997,929
BPCE SA (France) 2.314 9/6/18 3,750,000 3,733,948
Canadian Imperial Bank of Commerce (Canada) 2.221 11/5/18 5,400,000 5,400,000
Commonwealth Bank of Australia 144A (Australia) 2.201 11/9/18 12,344,000 12,343,824
Commonwealth Bank of Australia 144A (Australia) 2.161 7/23/18 2,500,000 2,500,042
Credit Agricole Corporate and Investment Bank/New York (France) 1.911 7/2/18 3,750,000 3,749,801
Danske Corp. (Denmark) 2.295 8/13/18 7,300,000 7,280,109
DnB Bank ASA (Norway) 2.265 8/24/18 5,000,000 4,983,125
DnB Bank ASA (Norway) 2.161 7/30/18 7,750,000 7,750,000
HSBC Bank PLC 144A (United Kingdom) 2.201 11/5/18 3,750,000 3,750,000
ING (U.S.) Funding, LLC 2.237 7/13/18 4,000,000 4,000,180
ING (U.S.) Funding, LLC 2.236 7/9/18 4,000,000 4,000,120
Lloyds Bank PLC (United Kingdom) 2.275 12/7/18 7,500,000 7,500,000
MUFG Bank, Ltd./New York, NY (Japan) 2.056 7/9/18 5,750,000 5,747,381
National Australia Bank, Ltd. (Australia) 2.161 8/1/18 12,000,000 12,000,000
National Bank of Canada (Canada) 2.389 7/16/18 1,190,000 1,188,825
National Bank of Canada (Canada) 2.335 1/18/19 7,750,000 7,750,000
Nationwide Building Society 144A (United Kingdom) 2.283 9/11/18 3,750,000 3,732,975
NRW.Bank (Germany) 2.127 8/17/18 2,600,000 2,592,804
NRW.Bank (Germany) 2.067 7/13/18 4,000,000 3,997,253
Skandinaviska Enskilda Banken AB (Sweden) 1.739 7/17/18 1,735,000 1,733,674
Svenska Handelsbanken AB (Sweden) 1.472 7/5/18 2,750,000 2,749,555
Swedbank AB (Sweden) 2.068 7/19/18 3,100,000 3,096,807
Swedbank AB (Sweden) 1.911 7/2/18 5,250,000 5,249,721
Toronto-Dominion Bank (The) (Canada) 2.271 2/8/19 7,750,000 7,750,000
Toronto-Dominion Bank (The) (Canada) 2.251 1/11/19 4,500,000 4,500,000
Toronto-Dominion Bank (The) (Canada) 2.171 7/24/18 4,000,000 3,999,964
UBS AG/London 144A (United Kingdom) 2.211 7/25/18 7,750,000 7,750,000
Westpac Banking Corp. (Australia) 2.263 7/26/18 1,200,000 1,198,125
Westpac Banking Corp. 144A (Australia) 2.231 1/3/19 5,000,000 5,000,026
Westpac Banking Corp. 144A (Australia) 2.191 10/5/18 7,000,000 7,000,011
Westpac Banking Corp. 144A (Australia) 2.161 8/2/18 6,000,000 6,000,046
Total commercial paper (cost $179,026,097) $179,026,097

ASSET-BACKED COMMERCIAL PAPER (10.7%)(a)
Yield (%) Maturity date Principal amount Value
Atlantic Asset Securitization, LLC 2.303 9/13/18 $3,750,000 $3,732,348
Bedford Row Funding Corp. 2.221 11/5/18 7,500,000 7,500,000
Bedford Row Funding Corp. 1.629 7/13/18 2,090,000 2,088,878
CAFCO, LLC 2.275 9/17/18 3,750,000 3,731,638
Chariot Funding, LLC 2.369 10/22/18 7,500,000 7,444,677
Collateralized Commercial Paper Co., LLC 2.401 9/12/18 4,000,000 4,000,000
Collateralized Commercial Paper II Co., LLC 144A 2.391 10/18/18 7,000,000 7,000,218
Collateralized Commercial Paper II Co., LLC 144A 2.359 10/4/18 4,000,000 3,975,300
CRC Funding, LLC 2.283 8/7/18 3,700,000 3,691,368
Fairway Finance Co., LLC (Canada) 2.263 8/20/18 3,200,000 3,190,000
Liberty Street Funding, LLC (Canada) 2.368 10/10/18 7,500,000 7,450,552
MetLife Short Term Funding, LLC 2.274 9/17/18 7,190,000 7,154,793
Old Line Funding, LLC 2.294 7/18/18 4,000,000 3,995,693
Old Line Funding, LLC 2.283 9/13/18 7,750,000 7,713,838
Regency Markets No. 1, LLC 2.003 7/12/18 4,000,000 3,997,556
Thunder Bay Funding, LLC 2.349 9/10/18 5,400,000 5,375,186
Total asset-backed commercial paper (cost $82,042,045) $82,042,045

TOTAL INVESTMENTS
Total investments (cost $768,837,053) $768,837,053













Key to holding's abbreviations
FRN Floating Rate Notes: the rate shown is the current interest rate or yield at the close of the reporting period. Rates may be subject to a cap or floor. For certain securities, the rate may represent a fixed rate currently in place at the close of the reporting period.
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 October 1, 2017 through June 30, 2018 (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 $768,871,551.
144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
The dates shown on debt obligations are the original maturity dates.

DIVERSIFICATION BY COUNTRY
Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value):
United States 65.8%
Canada 8.3
Australia 8.3
Sweden 4.3
United Kingdom 4.0
France 3.0
Japan 1.8
Norway 1.7
Netherlands 1.0
Denmark 0.9
Germany 0.9
Total 100.0%

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.
The valuation of the fund's portfolio instruments is determined by means of the amortized cost method (which approximates fair value) as set forth in Rule 2a-7 under the Investment Company Act of 1940. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity and is generally categorized as a Level 2 security.
Repurchase agreements: The fund, or any joint trading account, through its custodian, receives delivery of the underlying securities, the fair value of which at the time of purchase is required to be in an amount at least equal to the resale price, including accrued interest. Collateral for certain tri-party repurchase agreements, which totaled $301,599,201, is held at the counterparty's custodian in a segregated account for the benefit of the fund and the counterparty. Putnam Management is responsible for determining that the value of these underlying securities is at all times at least equal to the resale price, including accrued interest. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings.












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
Asset-backed commercial paper $— $82,042,045 $—
Certificates of deposit — 212,100,911 —
Commercial paper — 179,026,097 —
Repurchase agreements — 295,668,000 —
Totals by level $— $768,837,053 $—

During the reporting period, transfers within the fair value hierarchy, if any, did not represent, in the aggregate, more than 1% of the fund's net assets measured as of the end of the period. Transfers are accounted for using the end of period pricing valuation method.

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



Item 2. Controls and Procedures:
(a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.
(b) Changes in internal control over financial reporting: Not applicable

Item 3. Exhibits:
Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Putnam Money Market Fund
By (Signature and Title):
/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: August 28, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title):
/s/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: August 28, 2018

By (Signature and Title):
/s/ Janet C. Smith
Janet C. Smith
Principal Financial Officer
Date: August 28, 2018

EX-99.CERT 2 b_010certifications.htm CERTIFICATIONS b_010certifications.htm

Certifications

I, Jonathan S. Horwitz, the Principal Executive Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:


a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;


b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and


d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to each registrant's auditors and the audit committee of each registrant's board of directors (or persons performing the equivalent functions):


a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant's ability to record, process, summarize, and report financial information; and


b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant's internal control over financial reporting.

/s/ Jonathan S. Horwitz
_____________________________

Date: August 28, 2018
Jonathan S. Horwitz
Principal Executive Officer













Certifications

I, Janet C. Smith, the Principal Financial Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:


a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;


b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and


d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to each registrant's auditors and the audit committee of each registrant's board of directors (or persons performing the equivalent functions):


a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant's ability to record, process, summarize, and report financial information; and


b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant's internal control over financial reporting.

/s/ Janet C. Smith
_______________________________

Date: August 28, 2018
Janet C. Smith
Principal Financial Officer














Attachment A

NQ

Period (s) ended June 30, 2018
               Putnam Master Intermediate Income Trust
               Putnam California Tax Exempt Income Fund
               Putnam Tax Exempt Income Fund
               Putnam International Growth Fund
               Putnam Government Money Market Fund
               Putnam Money Market Fund
               Putnam Mortgage Securities Fund
               Putnam Diversified Income Trust
               Putnam Dynamic Asset Allocation Balanced Fund
               Putnam Dynamic Asset Allocation Growth Fund
               Putnam Dynamic Asset Allocation Conservative Fund