0000928816-19-000411.txt : 20190228 0000928816-19-000411.hdr.sgml : 20190228 20190228121213 ACCESSION NUMBER: 0000928816-19-000411 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20181231 FILED AS OF DATE: 20190228 DATE AS OF CHANGE: 20190228 EFFECTIVENESS DATE: 20190228 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: 19641694 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: 100 Federal Street, Boston, Massachusetts 02110
Name and address of agent for service: Robert T. Burns, Vice President
100 Federal Street
Boston, Massachusetts 02110
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, 2019
Date of reporting period: December 31, 2018



Item 1. Schedule of Investments:


Putnam Money Market Fund
The fund's portfolio
12/31/18 (Unaudited)



REPURCHASE AGREEMENTS (41.4%)(a)
        Principal amount Value
Interest in $378,292,000 joint tri-party repurchase agreement dated 12/31/18 with Citigroup Global Markets, Inc. due 1/2/19 - maturity value of $141,023,500 for an effective yield of 3.000% (collateralized by various mortgage backed securities with coupon rates ranging from 3.000% to 8.500% and due dates ranging from 3/15/26 to 12/15/53, valued at $385,881,361) $141,000,000 $141,000,000
Interest in $450,000,000 joint tri-party repurchase agreement dated 12/31/18 with HSBC Bank USA, National Association due 1/2/19 - maturity value of $140,345,387 for an effective yield of 3.000% (collateralized by a U.S. Treasury note with a coupon rate of 2.875% and a due date of 11/15/21, valued at $459,076,568) 140,322,000 140,322,000
Interest in $47,722,000 tri-party repurchase agreement dated 12/31/18 with RBC Capital Markets, LLC due 1/2/19 - maturity value of $47,729,954 for an effective yield of 3.000% (collateralized by various mortgage backed securities with coupon rates ranging from 2.877% to 4.500% and due dates ranging from 11/1/26 to 8/1/48, valued at $48,684,553) 47,722,000 47,722,000
Total repurchase agreements (cost $329,044,000) $329,044,000









CERTIFICATES OF DEPOSIT (23.3%)(a)
    Yield (%) Maturity date   Principal amount Value
Australia & New Zealand Banking Group, Ltd./New York, NY FRN 2.892 1/28/20 $7,500,000 $7,500,000
Bank of America, NA 2.500 4/4/19 8,000,000 8,000,000
Bank of America, NA FRN 2.527 4/11/19 4,000,000 4,000,000
Bank of America, NA FRN Ser. BN56 2.617 1/11/19 4,750,000 4,750,185
Bank of Montreal/Chicago, IL FRN (Canada) 2.776 2/25/19 7,500,000 7,500,000
Bank of Montreal/Chicago, IL FRN (Canada) 2.710 8/6/19 7,750,000 7,750,000
Bank of Nova Scotia/Houston FRN 2.719 11/5/19 7,500,000 7,500,000
Canadian Imperial Bank of Commerce/New York, NY FRN 2.770 12/6/19 6,250,000 6,250,000
Canadian Imperial Bank of Commerce/New York, NY FRN 2.750 8/1/19 5,000,000 5,000,000
Citibank, NA 2.810 4/18/19 3,750,000 3,750,000
Citibank, NA 2.680 2/22/19 7,750,000 7,750,000
Cooperatieve Rabobank UA/NY FRN (Netherlands) 2.627 5/9/19 7,750,000 7,750,000
HSBC Bank USA, NA 2.567 2/8/19 3,750,000 3,750,000
MUFG Bank, Ltd./New York, NY FRN (Japan) 2.779 5/21/19 7,500,000 7,500,000
Nordea Bank AB/New York, NY FRN 2.988 3/15/19 6,000,000 6,002,178
Nordea Bank AB/New York, NY FRN 2.840 3/14/19 4,000,000 4,000,000
Nordea Bank AB/New York, NY FRN 2.716 5/21/19 7,500,000 7,499,890
Skandinaviska Enskilda Banken AB/New York, NY FRN 2.500 3/6/19 7,500,000 7,500,000
Sumitomo Mitsui Banking Corp./New York FRN (Japan) 2.735 5/15/19 7,500,000 7,500,000
Sumitomo Mitsui Banking Corp./New York FRN (Japan) 2.675 1/18/19 7,750,000 7,750,091
Svenska Handelsbanken/New York, NY FRN (Sweden) 2.770 8/20/19 7,750,000 7,750,000
Svenska Handelsbanken/New York, NY FRN (Sweden) 2.667 7/8/19 4,000,000 4,000,000
Svenska Handelsbanken/New York, NY FRN (Sweden) 2.637 2/4/19 7,000,000 7,000,000
Swedbank AB/New York FRN 2.730 5/21/19 7,750,000 7,750,000
Toronto-Dominion Bank/NY FRN (Canada) 2.804 7/22/19 7,750,000 7,750,000
US Bank, NA/Cincinnati, OH FRN 2.497 5/13/19 7,750,000 7,750,000
US Bank, NA/Cincinnati, OH FRN 2.487 7/3/19 3,500,000 3,500,000
Wells Fargo Bank, NA FRN 2.607 10/9/19 3,750,000 3,750,000
Wells Fargo Bank, NA FRN 2.529 7/10/19 7,500,000 7,500,000
Total certificates of deposit (cost $185,752,344) $185,752,344









COMMERCIAL PAPER (22.6%)(a)
    Yield (%) Maturity date   Principal amount Value
ABN AMRO Funding USA, LLC 2.729 3/4/19 $7,500,000 $7,464,996
Australia & New Zealand Banking Group, Ltd (Australia) 2.555 4/5/19 7,500,000 7,450,650
Australia & New Zealand Banking Group, Ltd. 144A (Australia) 2.597 3/7/19 3,000,000 2,999,963
Bank of Nova Scotia (The) (Canada) 2.941 6/17/19 3,500,000 3,452,915
Bank of Nova Scotia (The) (Canada) 2.618 2/4/19 3,750,000 3,740,756
BPCE SA (France) 2.481 2/1/19 3,750,000 3,742,056
Commonwealth Bank of Australia 144A (Australia) 2.637 2/22/19 1,000,000 1,000,107
Commonwealth Bank of Australia 144A (Australia) 2.527 8/30/19 9,300,000 9,298,408
DNB Bank ASA 144A (Norway) 2.477 3/14/19 7,500,000 7,500,000
Export Development Canada (Canada) 2.578 3/11/19 7,500,000 7,463,344
Export Development Canada (Canada) 2.417 2/11/19 4,000,000 3,989,112
HSBC Bank PLC (United Kingdom) 2.848 4/16/19 2,350,000 2,330,671
HSBC Bank PLC 144A (United Kingdom) 2.856 2/26/19 3,750,000 3,750,925
HSBC USA, Inc. 144A 2.667 7/5/19 7,500,000 7,500,000
ING (U.S.) Funding LLC 2.657 5/28/19 7,750,000 7,750,000
Lloyds Bank PLC (United Kingdom) 2.667 8/2/19 7,750,000 7,750,000
Mizuho Bank, Ltd./New York, NY 2.728 2/26/19 4,000,000 3,983,138
National Australia Bank, Ltd. (Australia) 2.577 4/11/19 7,500,000 7,500,000
National Australia Bank, Ltd. (Australia) 2.567 8/2/19 3,850,000 3,850,000
National Australia Bank, Ltd. (Australia) 2.549 2/5/19 7,750,000 7,730,937
National Bank of Canada (Canada) 2.597 1/18/19 7,750,000 7,750,000
Nationwide Building Society (United Kingdom) 2.517 1/22/19 4,000,000 3,994,167
NRW.Bank (Germany) 2.727 2/19/19 3,800,000 3,785,983
Royal Bank of Canada (Canada) 2.870 7/15/19 7,500,000 7,385,844
Skandinaviska Enskilda Banken AB (Sweden) 3.137 10/1/19 7,500,000 7,325,963
Toronto-Dominion Bank (The) (Canada) 2.617 2/8/19 7,750,000 7,750,000
Toronto-Dominion Bank (The) (Canada) 2.597 1/11/19 4,500,000 4,500,000
Toronto-Dominion Bank (The) (Canada) 2.570 3/22/19 3,600,000 3,579,680
UBS AG/London (United Kingdom) 2.607 4/25/19 3,500,000 3,500,000
UBS AG/London (United Kingdom) 2.527 4/16/19 4,500,000 4,500,000
Westpac Banking Corp. (Australia) 2.577 1/7/19 3,750,000 3,750,055
Westpac Banking Corp. 144A (Australia) 2.577 1/3/19 5,000,000 5,000,000
Westpac Banking Corp. 144A (Australia) 2.557 9/19/19 7,000,000 7,000,000
Total commercial paper (cost $180,069,670) $180,069,670









ASSET-BACKED COMMERCIAL PAPER (12.5%)(a)
    Yield (%) Maturity date   Principal amount Value
Barclays Bank PLC CCP (United Kingdom) 2.668 1/28/19 $3,750,000 $3,742,547
Bedford Row Funding Corp. 2.460 2/21/19 4,500,000 4,484,509
CAFCO, LLC 2.841 3/12/19 3,750,000 3,729,438
Chariot Funding, LLC 2.491 2/11/19 7,750,000 7,728,199
CHARTA, LLC 2.841 3/19/19 3,750,000 3,727,381
Collateralized Commercial Paper Co., LLC 2.627 3/1/19 8,000,000 8,001,744
Collateralized Commercial Paper II Co., LLC 144A 2.735 1/16/19 7,500,000 7,500,265
Collateralized Commercial Paper II Co., LLC 144A 2.567 1/24/19 7,500,000 7,500,000
CRC Funding, LLC 2.779 3/4/19 3,750,000 3,732,175
Fairway Finance Co., LLC (Canada) 2.507 4/9/19 3,750,000 3,750,000
Gotham Funding Corp. (Japan) 2.840 3/19/19 3,750,000 3,727,381
Liberty Street Funding, LLC (Canada) 2.821 3/11/19 7,500,000 7,459,750
MetLife Short Term Funding, LLC 2.527 3/18/19 7,750,000 7,709,097
Old Line Funding, LLC 2.756 3/19/19 7,750,000 7,704,746
Regency Markets No. 1, LLC 2.604 1/11/19 7,500,000 7,494,583
Thunder Bay Funding, LLC 2.710 2/26/19 7,750,000 7,717,571
Victory Receivables Corp. (Japan) 2.840 3/19/19 3,750,000 3,727,381
Total asset-backed commercial paper (cost $99,436,767) $99,436,767









U.S. TREASURY OBLIGATIONS (0.9%)(a)
    Yield (%) Maturity date   Principal amount Value
U.S. Treasury FRN(M) 2.473 7/31/20 $7,500,000 $7,500,907
Total U.S. treasury obligations (cost $7,500,907) $7,500,907
TOTAL INVESTMENTS
Total investments (cost $801,803,688) $801,803,688













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, 2018 through December 31, 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 $795,614,184.
(M) This security's effective maturity date is less than one year.
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 69.1%
Canada 10.4
Australia 6.9
Japan 3.8
United Kingdom 3.7
Sweden 3.2
Netherlands 1.0
Norway 0.9
Germany 0.5
France 0.5
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 $335,665,636, 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 $— $99,436,767 $—
Certificates of deposit — 185,752,344 —
Commercial paper — 180,069,670 —
Repurchase agreements — 329,044,000 —
U.S. treasury obligations — 7,500,907 —
Totals by level $— $801,803,688 $—

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: February 28, 2019

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: February 28, 2019

By (Signature and Title):
/s/ Janet C. Smith
Janet C. Smith
Principal Financial Officer
Date: February 28, 2019

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: February 28, 2019
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: February 28, 2019
Janet C. Smith
Principal Financial Officer














Attachment A

NQ

Period (s) ended December 31, 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