Putnam Retirement Income Lifestyle 1 Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 31.55 3.65 27.9
Stocks 18.55 0.0 18.55
Bonds 41.27 0.05 41.23
Other 3.5 0.63 2.87
Foreign Bonds 5.4 0.03 5.37
Foreign Stocks 3.89 0.0 3.89
Convertible 0.0 0.0 0.0
Preferred 0.19 0.0 0.19

Updated 03.31.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 03.31.2014

% Net Assets
Putnam Dynamic Asset Allocation Cnsrv Y 33.67
Putnam Absolute Return 500 Y 29.71
Putnam Absolute Return 300 Y 20.8
Putnam Absolute Return 100 Y 8.91

Bond Ratings (%)

Updated 03.31.2014

Sector PRMAX
AAA 34.42
AA 2.84
A 14.24
BBB 14.17
BB 7.3
B 7.77
Below B 2.75
Other 16.52