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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-CSR

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number 811-04524

 

Putnam Global Income Trust

(Exact name of registrant as specified in charter)

 

100 Federal Street, Boston, Massachusetts 02110

(Address of principal executive offices) (Zip code)

 

Stephen Tate, 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

 

James E. Thomas, Esq.

Ropes & Gray LLP

800 Boylston Street

Boston, Massachusetts 02199

(Name and address of agent for service)

 

Registrant’s telephone number, including area code: (617) 292-1000

 

Date of fiscal year end: October 31

 

Date of reporting period: April 30, 2026

 

 

 

ITEM 1. REPORT TO STOCKHOLDERS.

 

(a) The Report to Shareholders is filed herewith

Putnam Global Income Trust
image
Class A   [PGGIX]
Semi-Annual Shareholder Report | April 30, 2026
image
This semi-annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2025, to April 30, 2026.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.  
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,†
Class A
$44
0.88%
* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
† Annualized.
KEY FUND STATISTICS (as of April 30, 2026)
Total Net Assets
$215,414,043
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)
715
Portfolio Turnover Rate
138%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)
Portfolio Composition* (% of Total Investments)
image
* Does not include derivatives, except purchased options, if any.  
image
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
• prospectus • proxy voting information • financial information • holdings • tax information
Putnam Global Income Trust  PAGE 1  38916-STSA-0626
29.827.915.16.36.25.44.32.22.8
 
Putnam Global Income Trust
image
Class C   [PGGLX]
Semi-Annual Shareholder Report | April 30, 2026
image
This semi-annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2025, to April 30, 2026.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.  
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,†
Class C
$81
1.63%
* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
† Annualized.
KEY FUND STATISTICS (as of April 30, 2026)
Total Net Assets
$215,414,043
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)
715
Portfolio Turnover Rate
138%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)
Portfolio Composition* (% of Total Investments)
image
* Does not include derivatives, except purchased options, if any.  
image
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
• prospectus • proxy voting information • financial information • holdings • tax information
Putnam Global Income Trust  PAGE 1  38916-STSC-0626
29.827.915.16.36.25.44.32.22.8
 
Putnam Global Income Trust
image
Class R   [PGBRX]
Semi-Annual Shareholder Report | April 30, 2026
image
This semi-annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2025, to April 30, 2026.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.  
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,†
Class R
$56
1.13%
* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
† Annualized.
KEY FUND STATISTICS (as of April 30, 2026)
Total Net Assets
$215,414,043
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)
715
Portfolio Turnover Rate
138%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)
Portfolio Composition* (% of Total Investments)
image
* Does not include derivatives, except purchased options, if any.  
image
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
• prospectus • proxy voting information • financial information • holdings • tax information
Putnam Global Income Trust  PAGE 1  38916-STSR-0626
29.827.915.16.36.25.44.32.22.8
 
Putnam Global Income Trust
image
Class R5   [PGGDX]
Semi-Annual Shareholder Report | April 30, 2026
image
This semi-annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2025, to April 30, 2026.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.  
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,†
Class R5
$26
0.53%
* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
† Annualized.
KEY FUND STATISTICS (as of April 30, 2026)
Total Net Assets
$215,414,043
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)
715
Portfolio Turnover Rate
138%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)
Portfolio Composition* (% of Total Investments)
image
* Does not include derivatives, except purchased options, if any.  
image
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
• prospectus • proxy voting information • financial information • holdings • tax information
Putnam Global Income Trust  PAGE 1  38916-STSR5-0626
29.827.915.16.36.25.44.32.22.8
 
Putnam Global Income Trust
image
Class R6   [PGGEX]
Semi-Annual Shareholder Report | April 30, 2026
image
This semi-annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2025, to April 30, 2026.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.  
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,†
Class R6
$24
0.48%
* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
† Annualized.
KEY FUND STATISTICS (as of April 30, 2026)
Total Net Assets
$215,414,043
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)
715
Portfolio Turnover Rate
138%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)
Portfolio Composition* (% of Total Investments)
image
* Does not include derivatives, except purchased options, if any.  
image
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
• prospectus • proxy voting information • financial information • holdings • tax information
Putnam Global Income Trust  PAGE 1  38916-STSR6-0626
29.827.915.16.36.25.44.32.22.8
 
Putnam Global Income Trust
image
Class Y   [PGGYX]
Semi-Annual Shareholder Report | April 30, 2026
image
This semi-annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2025, to April 30, 2026.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.  
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Class Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,†
Class Y
$31
0.63%
* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
† Annualized.
KEY FUND STATISTICS (as of April 30, 2026)
Total Net Assets
$215,414,043
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)
715
Portfolio Turnover Rate
138%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)
Portfolio Composition* (% of Total Investments)
image
* Does not include derivatives, except purchased options, if any.  
image
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
• prospectus • proxy voting information • financial information • holdings • tax information
Putnam Global Income Trust  PAGE 1  38916-STSY-0626
29.827.915.16.36.25.44.32.22.8
 

(b) Not applicable

 

ITEM 2. CODE OF ETHICS.

 

Not applicable.

 

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

 

Not applicable.

 

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

 

Not applicable.

 

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

 

Not applicable.

 

ITEM 6. SCHEDULE OF INVESTMENTS.

 

(a) Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item 7 of this Form N-CSR.

 

(b) Not applicable.
 

 

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

 

Putnam
Global
Income
Trust
Financial
Statements
and
Other
Important
Information
Semi-Annual
|
April
30,
2026
If
you
need
assistance
accessing
this
content,
please
reach
out
to
your
sales
representative
or
send
an
email
to
accessibility@franklintempleton.com
.
Table
of
Contents
franklintempleton.com
Financial
Statements
and
Other
Important
Information—Semiannual
1
Financial
Highlights
and
Schedule
of
Investments
2
Financial
Statements
38
Notes
to
Financial
Statements
43
Changes
In
and
Disagreements
with
Accountants
60
Results
of
Meeting(s)
of
Shareholders
60
Remuneration
Paid
to
Directors,
Officers
and
Others
60
Board
Approval
of
Management
and
Subadvisory
Agreements
60
Putnam
Global
Income
Trust
Financial
Highlights
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
2
a
Six
Months
Ended
April
30,
2026
(unaudited)
Year
Ended
October
31,
2025
2024
2023
2022
2021
Class
A
Per
share
operating
performance
(for
a
share
outstanding
throughout
the
period)
Net
asset
value,
beginning
of
period
.....
$10.10
$10.10
$9.41
$9.47
$11.95
$12.45
Income
from
investment
operations
a
:
Net
investment
income
b
.............
0.17
0.36
0.37
0.33
0.26
0.24
Net
realized
and
unrealized
gains
(losses)
(0.12)
0.15
0.60
(0.19)
(2.54)
(0.54)
Total
from
investment
operations
........
0.05
0.51
0.97
0.14
(2.28)
(0.30)
Less
distributions
from:
Net
investment
income
..............
(0.16)
(0.51)
(0.28)
(0.19)
(0.06)
(0.20)
Tax
return
of
capital
................
—
—
—
(0.01)
(0.14)
—
Total
distributions
...................
(0.16)
(0.51)
(0.28)
(0.20)
(0.20)
(0.20)
Net
asset
value,
end
of
period
..........
$9.99
$10.10
$10.10
$9.41
$9.47
$11.95
Total
return
c
.......................
0.49%
5.24%
10.35%
1.45%
(19.23)%
(2.43)%
Ratios
to
average
net
assets
d
Expenses
before
waiver
and
payments
by
affiliates
..........................
1.12%
1.16%
1.24%
1.35%
1.26%
1.18%
Expenses
net
of
waiver
and
payments
by
affiliates
e
..........................
0.88%
0.90%
0.93%
0.93%
0.91%
0.88%
Net
investment
income
...............
3.40%
3.60%
3.69%
3.38%
2.38%
1.91%
Supplemental
data
Net
assets
,
end
of
period
(000’s)
........
$69,496
$68,939
$75,726
$77,720
$78,619
$110,713
Portfolio
turnover
rate
................
138%
241%
693%
925%
989%
838%
a
The
amount
shown
for
a
share
outstanding
throughout
the
period
may
not
correlate
with
the
Statement
of
Operations
for
the
period
due
to
the
timing
of
sales
and
repurchases
of
the
Fund’s
shares
in
relation
to
income
earned
and/or
fluctuating
fair
value
of
the
investments
of
the
Fund.
b
Based
on
average
daily
shares
outstanding.
c
Total
return
does
not
reflect
sales
commissions
or
contingent
deferred
sales
charges,
if
applicable,
and
is
not
annualized
for
periods
less
than
one
year.
d
Ratios
are
annualized
for
periods
less
than
one
year.
e
Benefit
of
expense
reduction
rounds
to
less
than
0.01%.
Putnam
Global
Income
Trust
Financial
Highlights
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
3
a
Six
Months
Ended
April
30,
2026
(unaudited)
Year
Ended
October
31,
2025
2024
2023
2022
2021
Class
C
Per
share
operating
performance
(for
a
share
outstanding
throughout
the
period)
Net
asset
value,
beginning
of
period
.....
$10.05
$10.05
$9.37
$9.43
$11.89
$12.39
Income
from
investment
operations
a
:
Net
investment
income
b
.............
0.13
0.28
0.29
0.25
0.17
0.14
Net
realized
and
unrealized
gains
(losses)
(0.12)
0.16
0.59
(0.18)
(2.50)
(0.53)
Total
from
investment
operations
........
0.01
0.44
0.88
0.07
(2.33)
(0.39)
Less
distributions
from:
Net
investment
income
..............
(0.12)
(0.44)
(0.20)
(0.12)
(0.04)
(0.11)
Tax
return
of
capital
................
—
—
—
(0.01)
(0.09)
—
Total
distributions
...................
(0.12)
(0.44)
(0.20)
(0.13)
(0.13)
(0.11)
Net
asset
value,
end
of
period
..........
$9.94
$10.05
$10.05
$9.37
$9.43
$11.89
Total
return
c
.......................
0.11%
4.47%
9.47%
0.69%
(19.77)%
(3.19)%
Ratios
to
average
net
assets
d
Expenses
before
waiver
and
payments
by
affiliates
..........................
1.87%
1.91%
1.99%
2.10%
2.01%
1.93%
Expenses
net
of
waiver
and
payments
by
affiliates
e
..........................
1.63%
1.65%
1.68%
1.68%
1.66%
1.63%
Net
investment
income
...............
2.65%
2.85%
2.94%
2.54%
1.55%
1.14%
Supplemental
data
Net
assets
,
end
of
period
(000’s)
........
$1,650
$1,525
$1,936
$1,552
$2,143
$3,833
Portfolio
turnover
rate
................
138%
241%
693%
925%
989%
838%
a
The
amount
shown
for
a
share
outstanding
throughout
the
period
may
not
correlate
with
the
Statement
of
Operations
for
the
period
due
to
the
timing
of
sales
and
repurchases
of
the
Fund’s
shares
in
relation
to
income
earned
and/or
fluctuating
fair
value
of
the
investments
of
the
Fund.
b
Based
on
average
daily
shares
outstanding.
c
Total
return
does
not
reflect
sales
commissions
or
contingent
deferred
sales
charges,
if
applicable,
and
is
not
annualized
for
periods
less
than
one
year.
d
Ratios
are
annualized
for
periods
less
than
one
year.
e
Benefit
of
expense
reduction
rounds
to
less
than
0.01%.
Putnam
Global
Income
Trust
Financial
Highlights
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
4
a
Six
Months
Ended
April
30,
2026
(unaudited)
Year
Ended
October
31,
2025
2024
2023
2022
2021
Class
R
Per
share
operating
performance
(for
a
share
outstanding
throughout
the
period)
Net
asset
value,
beginning
of
period
.....
$10.10
$10.10
$9.41
$9.47
$11.94
$12.45
Income
from
investment
operations
a
:
Net
investment
income
b
.............
0.16
0.34
0.34
0.31
0.24
0.21
Net
realized
and
unrealized
gains
(losses)
(0.13)
0.15
0.61
(0.19)
(2.54)
(0.55)
Total
from
investment
operations
........
0.03
0.49
0.95
0.12
(2.30)
(0.34)
Less
distributions
from:
Net
investment
income
..............
(0.15)
(0.49)
(0.26)
(0.17)
(0.05)
(0.17)
Tax
return
of
capital
................
—
—
—
(0.01)
(0.12)
—
Total
distributions
...................
(0.15)
(0.49)
(0.26)
(0.18)
(0.17)
(0.17)
Net
asset
value,
end
of
period
..........
$9.98
$10.10
$10.10
$9.41
$9.47
$11.94
Total
return
c
.......................
0.26%
4.98%
10.09%
1.20%
(19.35)%
(2.76)%
Ratios
to
average
net
assets
d
Expenses
before
waiver
and
payments
by
affiliates
..........................
1.37%
1.41%
1.49%
1.60%
1.51%
1.43%
Expenses
net
of
waiver
and
payments
by
affiliates
e
..........................
1.13%
1.15%
1.18%
1.18%
1.16%
1.13%
Net
investment
income
...............
3.15%
3.35%
3.44%
3.16%
2.18%
1.69%
Supplemental
data
Net
assets
,
end
of
period
(000’s)
........
$1,022
$1,053
$1,221
$1,243
$1,460
$1,963
Portfolio
turnover
rate
................
138%
241%
693%
925%
989%
838%
a
The
amount
shown
for
a
share
outstanding
throughout
the
period
may
not
correlate
with
the
Statement
of
Operations
for
the
period
due
to
the
timing
of
sales
and
repurchases
of
the
Fund’s
shares
in
relation
to
income
earned
and/or
fluctuating
fair
value
of
the
investments
of
the
Fund.
b
Based
on
average
daily
shares
outstanding.
c
Total
return
is
not
annualized
for
periods
less
than
one
year.
d
Ratios
are
annualized
for
periods
less
than
one
year.
e
Benefit
of
expense
reduction
rounds
to
less
than
0.01%.
Putnam
Global
Income
Trust
Financial
Highlights
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
5
a
Six
Months
Ended
April
30,
2026
(unaudited)
Year
Ended
October
31,
2025
2024
2023
2022
2021
Class
R5
Per
share
operating
performance
(for
a
share
outstanding
throughout
the
period)
Net
asset
value,
beginning
of
period
.....
$10.10
$10.10
$9.41
$9.47
$11.94
$12.44
Income
from
investment
operations
a
:
Net
investment
income
b
.............
0.19
0.40
0.41
0.37
0.30
0.28
Net
realized
and
unrealized
gains
(losses)
(0.12)
0.15
0.60
(0.19)
(2.53)
(0.54)
Total
from
investment
operations
........
0.07
0.55
1.01
0.18
(2.23)
(0.26)
Less
distributions
from:
Net
investment
income
..............
(0.18)
(0.55)
(0.32)
(0.23)
(0.07)
(0.24)
Tax
return
of
capital
................
—
—
—
(0.01)
(0.17)
—
Total
distributions
...................
(0.18)
(0.55)
(0.32)
(0.24)
(0.24)
(0.24)
Net
asset
value,
end
of
period
..........
$9.99
$10.10
$10.10
$9.41
$9.47
$11.94
Total
return
c
.......................
0.67%
5.63%
10.75%
1.82%
(18.88)%
(2.12)%
Ratios
to
average
net
assets
d
Expenses
before
waiver
and
payments
by
affiliates
..........................
0.77%
0.81%
0.86%
0.97%
0.90%
0.85%
Expenses
net
of
waiver
and
payments
by
affiliates
e
..........................
0.53%
0.55%
0.55%
0.55%
0.55%
0.55%
Net
investment
income
...............
3.74%
3.96%
4.06%
3.82%
2.76%
2.25%
Supplemental
data
Net
assets
,
end
of
period
(000’s)
........
$64
$55
$51
$58
$32
$44
Portfolio
turnover
rate
................
138%
241%
693%
925%
989%
838%
a
The
amount
shown
for
a
share
outstanding
throughout
the
period
may
not
correlate
with
the
Statement
of
Operations
for
the
period
due
to
the
timing
of
sales
and
repurchases
of
the
Fund’s
shares
in
relation
to
income
earned
and/or
fluctuating
fair
value
of
the
investments
of
the
Fund.
b
Based
on
average
daily
shares
outstanding.
c
Total
return
is
not
annualized
for
periods
less
than
one
year.
d
Ratios
are
annualized
for
periods
less
than
one
year.
e
Benefit
of
expense
reduction
rounds
to
less
than
0.01%.
Putnam
Global
Income
Trust
Financial
Highlights
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
6
a
Six
Months
Ended
April
30,
2026
(unaudited)
Year
Ended
October
31,
2025
2024
2023
2022
2021
Class
R6
Per
share
operating
performance
(for
a
share
outstanding
throughout
the
period)
Net
asset
value,
beginning
of
period
.....
$10.09
$10.10
$9.41
$9.47
$11.95
$12.45
Income
from
investment
operations
a
:
Net
investment
income
b
.............
0.19
0.40
0.41
0.38
0.31
0.29
Net
realized
and
unrealized
gains
(losses)
(0.12)
0.15
0.61
(0.19)
(2.53)
(0.54)
Total
from
investment
operations
........
0.07
0.55
1.02
0.19
(2.22)
(0.25)
Less
distributions
from:
Net
investment
income
..............
(0.18)
(0.56)
(0.33)
(0.24)
(0.08)
(0.25)
Tax
return
of
capital
................
—
—
—
(0.01)
(0.18)
—
Total
distributions
...................
(0.18)
(0.56)
(0.33)
(0.25)
(0.26)
(0.25)
Net
asset
value,
end
of
period
..........
$9.98
$10.09
$10.10
$9.41
$9.47
$11.95
Total
return
c
.......................
0.70%
5.61%
10.88%
1.93%
(18.88)%
(2.05)%
Ratios
to
average
net
assets
d
Expenses
before
waiver
and
payments
by
affiliates
..........................
0.71%
0.73%
0.79%
0.90%
0.83%
0.78%
Expenses
net
of
waiver
and
payments
by
affiliates
e
..........................
0.48%
0.48%
0.48%
0.48%
0.48%
0.48%
Net
investment
income
...............
3.81%
4.03%
4.14%
3.84%
2.80%
2.31%
Supplemental
data
Net
assets
,
end
of
period
(000’s)
........
$14,126
$14,496
$17,012
$22,287
$20,822
$30,989
Portfolio
turnover
rate
................
138%
241%
693%
925%
989%
838%
a
The
amount
shown
for
a
share
outstanding
throughout
the
period
may
not
correlate
with
the
Statement
of
Operations
for
the
period
due
to
the
timing
of
sales
and
repurchases
of
the
Fund’s
shares
in
relation
to
income
earned
and/or
fluctuating
fair
value
of
the
investments
of
the
Fund.
b
Based
on
average
daily
shares
outstanding.
c
Total
return
is
not
annualized
for
periods
less
than
one
year.
d
Ratios
are
annualized
for
periods
less
than
one
year.
e
Benefit
of
expense
reduction
rounds
to
less
than
0.01%.
Putnam
Global
Income
Trust
Financial
Highlights
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
7
a
Six
Months
Ended
April
30,
2026
(unaudited)
Year
Ended
October
31,
2025
2024
2023
2022
2021
Class
Y
Per
share
operating
performance
(for
a
share
outstanding
throughout
the
period)
Net
asset
value,
beginning
of
period
.....
$10.10
$10.10
$9.41
$9.47
$11.94
$12.44
Income
from
investment
operations
a
:
Net
investment
income
b
.............
0.18
0.39
0.40
0.36
0.28
0.27
Net
realized
and
unrealized
gains
(losses)
(0.12)
0.15
0.59
(0.19)
(2.52)
(0.53)
Total
from
investment
operations
........
0.06
0.54
0.99
0.17
(2.24)
(0.26)
Less
distributions
from:
Net
investment
income
..............
(0.17)
(0.54)
(0.30)
(0.22)
(0.07)
(0.24)
Tax
return
of
capital
................
—
—
—
(0.01)
(0.16)
—
Total
distributions
...................
(0.17)
(0.54)
(0.30)
(0.23)
(0.23)
(0.24)
Net
asset
value,
end
of
period
..........
$9.99
$10.10
$10.10
$9.41
$9.47
$11.94
Total
return
c
.......................
0.62%
5.52%
10.62%
1.70%
(18.98)%
(2.19)%
Ratios
to
average
net
assets
d
Expenses
before
waiver
and
payments
by
affiliates
..........................
0.87%
0.91%
0.99%
1.10%
1.01%
0.93%
Expenses
net
of
waiver
and
payments
by
affiliates
e
..........................
0.63%
0.65%
0.68%
0.68%
0.66%
0.63%
Net
investment
income
...............
3.65%
3.85%
3.93%
3.64%
2.59%
2.17%
Supplemental
data
Net
assets
,
end
of
period
(000’s)
........
$129,056
$127,144
$119,721
$56,728
$44,507
$88,836
Portfolio
turnover
rate
................
138%
241%
693%
925%
989%
838%
a
The
amount
shown
for
a
share
outstanding
throughout
the
period
may
not
correlate
with
the
Statement
of
Operations
for
the
period
due
to
the
timing
of
sales
and
repurchases
of
the
Fund’s
shares
in
relation
to
income
earned
and/or
fluctuating
fair
value
of
the
investments
of
the
Fund.
b
Based
on
average
daily
shares
outstanding.
c
Total
return
is
not
annualized
for
periods
less
than
one
year.
d
Ratios
are
annualized
for
periods
less
than
one
year.
e
Benefit
of
expense
reduction
rounds
to
less
than
0.01%.
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited),
April
30,
2026
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
8
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Management
Investment
Companies
2.5%
Capital
Markets
2.5%
a
Franklin
Ultra
Short
Bond
ETF
..........................
United
States
217,238
$
5,435,295
Total
Management
Investment
Companies
(Cost
$
5,401,724
)
...................
5,435,295
Principal
Amount
*
Corporate
Bonds
33.6%
Aerospace
&
Defense
1.2%
b
BAE
Systems
plc
,
Senior
Bond
,
144A,
5.3
%
,
3/26/34
.........
United
Kingdom
685,000
699,629
Boeing
Co.
(The)
,
Senior
Bond
,
2.95
%
,
2/01/30
.........................
United
States
24,000
22,687
Senior
Bond
,
6.125
%
,
2/15/33
........................
United
States
36,000
38,502
Senior
Bond
,
3.6
%
,
5/01/34
..........................
United
States
97,000
87,212
Senior
Bond
,
3.25
%
,
2/01/35
.........................
United
States
45,000
38,950
Senior
Bond
,
3.5
%
,
3/01/39
..........................
United
States
85,000
68,646
Senior
Bond
,
6.875
%
,
3/15/39
........................
United
States
110,000
121,973
Senior
Bond
,
3.375
%
,
6/15/46
........................
United
States
62,000
42,771
Senior
Bond
,
3.9
%
,
5/01/49
..........................
United
States
188,000
138,240
Senior
Bond
,
6.858
%
,
5/01/54
........................
United
States
139,000
154,507
Senior
Bond
,
3.95
%
,
8/01/59
.........................
United
States
165,000
114,694
Senior
Note
,
2.7
%
,
2/01/27
..........................
United
States
152,000
150,259
Senior
Note
,
6.259
%
,
5/01/27
........................
United
States
3,000
3,051
Senior
Note
,
6.298
%
,
5/01/29
........................
United
States
5,000
5,245
b
Honeywell
Aerospace,
Inc.
,
Senior
Bond
,
144A,
4.95
%
,
3/16/36
....................
United
States
165,000
163,190
Senior
Bond
,
144A,
5.732
%
,
3/16/56
...................
United
States
90,000
88,582
Senior
Bond
,
144A,
5.852
%
,
3/16/66
...................
United
States
60,000
59,103
Senior
Note
,
144A,
4.6
%
,
3/16/33
.....................
United
States
80,000
79,017
Howmet
Aerospace,
Inc.
,
Senior
Bond
,
4.75
%
,
4/15/36
.........................
United
States
35,000
34,013
Senior
Bond
,
5.95
%
,
2/01/37
.........................
United
States
287,000
305,460
Senior
Note
,
3
%
,
1/15/29
...........................
United
States
174,000
167,841
2,583,572
Automobiles
0.4%
b
Hyundai
Capital
America
,
Senior
Bond
,
144A,
6.375
%
,
4/08/30
...................
United
States
50,000
52,556
Senior
Note
,
144A,
6.5
%
,
1/16/29
.....................
United
States
200,000
208,942
Senior
Note
,
144A,
5.35
%
,
3/19/29
....................
United
States
497,000
506,053
Senior
Note
,
144A,
5.4
%
,
1/08/31
.....................
United
States
85,000
86,690
854,241
Banks
4.3%
Banco
Santander
SA
,
Senior
Non-Preferred
Bond
,
4.379
%
,
4/12/28
.........................................
Spain
200,000
199,510
Bank
of
America
Corp.
,
Senior
Bond
,
5.511%
to
1/23/35,
FRN
thereafter
,
1/24/36
...
United
States
98,000
100,269
Senior
Note
,
4.948%
to
7/21/27,
FRN
thereafter
,
7/22/28
....
United
States
368,000
370,235
Senior
Note
,
5.162%
to
1/23/30,
FRN
thereafter
,
1/24/31
....
United
States
97,000
98,826
Sub.
Bond
,
5.425%
to
8/14/34,
FRN
thereafter
,
8/15/35
.....
United
States
210,000
210,808
Sub.
Bond
,
3.846%
to
3/07/32,
FRN
thereafter
,
3/08/37
.....
United
States
597,000
554,770
Bank
of
Nova
Scotia
(The)
,
Junior
Sub.
Bond
,
7.35%
to
4/26/30,
FRN
thereafter
,
4/27/85
.............................
Canada
340,000
352,148
b
Banque
Federative
du
Credit
Mutuel
SA
,
Senior
Preferred
Note
,
144A,
4.541
%
,
1/15/31
..............................
France
200,000
197,724
Barclays
plc
,
Senior
Note
,
5.367%
to
2/24/30,
FRN
thereafter
,
2/25/31
.........................................
United
Kingdom
250,000
254,538
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
9
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Banks
(continued)
b
BNP
Paribas
SA
,
Sub.
Bond
,
144A,
4.375
%
,
5/12/26
.........
France
400,000
$
400,000
b
BPCE
SA
,
Senior
Non-Preferred
Bond
,
144A,
3.5
%
,
10/23/27
..
France
250,000
246,612
b
CaixaBank
SA
,
Senior
Non-Preferred
Note
,
144A,
4.634%
to
7/02/28,
FRN
thereafter
,
7/03/29
.................................
Spain
295,000
295,324
Senior
Non-Preferred
Note
,
144A,
5.673%
to
3/14/29,
FRN
thereafter
,
3/15/30
.................................
Spain
200,000
205,170
Citigroup,
Inc.
,
c
Junior
Sub.
Bond
,
6.625%
to
2/14/31,
FRN
thereafter
,
Perpetual
.......................................
United
States
190,000
192,441
c
GG
,
Junior
Sub.
Bond
,
6.875%
to
8/14/30,
FRN
thereafter
,
Perpetual
.......................................
United
States
416,000
422,636
Senior
Note
,
4.503%
to
9/10/30,
FRN
thereafter
,
9/11/31
....
United
States
485,000
479,690
Sub.
Bond
,
6.174%
to
5/24/33,
FRN
thereafter
,
5/25/34
.....
United
States
60,000
62,529
b
Commonwealth
Bank
of
Australia
,
Sub.
Bond
,
144A,
5.837
%
,
3/13/34
.........................................
Australia
400,000
414,542
Fifth
Third
Bancorp
,
Senior
Note
,
4.895%
to
9/05/29,
FRN
thereafter
,
9/06/30
.................................
United
States
225,000
225,888
First-Citizens
Bank
&
Trust
Co.
,
Sub.
Bond
,
6.125
%
,
3/09/28
...
United
States
276,000
282,844
ING
Groep
NV
,
Senior
Note
,
6.083%
to
9/10/26,
FRN
thereafter
,
9/11/27
.........................................
Netherlands
275,000
276,517
JPMorgan
Chase
&
Co.
,
Senior
Bond
,
5.502%
to
1/23/35,
FRN
thereafter
,
1/24/36
...
United
States
133,000
136,244
Senior
Note
,
6.07%
to
10/21/26,
FRN
thereafter
,
10/22/27
...
United
States
1,080,000
1,089,081
Senior
Note
,
5.14%
to
1/23/30,
FRN
thereafter
,
1/24/31
.....
United
States
337,000
343,062
Sub.
Bond
,
5.717%
to
9/13/32,
FRN
thereafter
,
9/14/33
.....
United
States
121,000
125,588
Sub.
Bond
,
5.576%
to
7/22/35,
FRN
thereafter
,
7/23/36
.....
United
States
95,000
96,424
Mitsubishi
UFJ
Financial
Group,
Inc.
,
Senior
Note
,
5.159%
to
4/23/30,
FRN
thereafter
,
4/24/31
......................
Japan
535,000
542,688
NatWest
Group
plc
,
Senior
Note
,
1.642%
to
6/13/26,
FRN
thereafter
,
6/14/27
.................................
United
Kingdom
301,000
299,959
PNC
Financial
Services
Group,
Inc.
(The)
,
Senior
Bond
,
5.373%
to
7/20/35,
FRN
thereafter
,
7/21/36
.....................
United
States
65,000
65,351
d
Truist
Bank
,
Sub.
Bond
,
FRN
,
4.632
%
,
(
5-year
CMT
T-Note
+
1.15
%
),
9/17/29
...................................
United
States
250,000
248,445
Truist
Financial
Corp.
,
Senior
Bond
,
5.711%
to
1/23/34,
FRN
thereafter
,
1/24/35
.................................
United
States
180,000
185,295
US
Bancorp
,
Sub.
Bond
,
2.491%
to
11/02/31,
FRN
thereafter
,
11/03/36
........................................
United
States
294,000
255,586
Wells
Fargo
&
Co.
,
Senior
Note
,
5.574%
to
7/24/28,
FRN
thereafter
,
7/25/29
....
United
States
220,000
224,874
Sub.
Bond
,
4.3
%
,
7/22/27
...........................
United
States
200,000
199,793
9,655,411
Beverages
0.1%
Keurig
Dr.
Pepper,
Inc.
,
Senior
Bond
,
5.3
%
,
3/15/34
.........
United
States
105,000
104,796
Biotechnology
0.2%
AbbVie,
Inc.
,
Senior
Bond
,
5.05
%
,
3/15/34
.........................
United
States
63,000
63,897
Senior
Bond
,
4.75
%
,
3/15/36
.........................
United
States
40,000
39,129
Senior
Note
,
4.4
%
,
3/15/33
..........................
United
States
125,000
122,748
Amgen,
Inc.
,
Senior
Bond
,
5.65
%
,
3/02/53
.........................
United
States
93,000
89,491
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
10
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Biotechnology
(continued)
Amgen,
Inc.,
(continued)
Senior
Note
,
5.25
%
,
3/02/30
.........................
United
States
185,000
$
189,718
504,983
Broadline
Retail
0.2%
Amazon.com,
Inc.
,
Senior
Bond
,
4.875
%
,
3/13/36
........................
United
States
149,000
146,872
Senior
Bond
,
5.8
%
,
3/13/56
..........................
United
States
20,000
19,699
Senior
Bond
,
6.05
%
,
3/13/76
.........................
United
States
130,000
128,192
Senior
Note
,
4.55
%
,
3/13/33
.........................
United
States
100,000
98,831
393,594
Building
Products
0.0%
†
Carlisle
Cos.,
Inc.
,
Senior
Bond
,
5.25
%
,
9/15/35
............
United
States
95,000
95,514
Capital
Markets
1.8%
Blackstone
Private
Credit
Fund
,
Senior
Note
,
3.25
%
,
3/15/27
..
United
States
169,000
166,284
Goldman
Sachs
Group,
Inc.
(The)
,
c
U
,
Junior
Sub.
Bond
,
3.65%
to
8/09/26,
FRN
thereafter
,
Perpetual
.......................................
United
States
57,000
56,855
Senior
Bond
,
5.065%
to
1/20/36,
FRN
thereafter
,
1/21/37
...
United
States
85,000
83,131
Senior
Note
,
5.094%
to
4/19/33,
FRN
thereafter
,
4/20/34
....
United
States
70,000
69,855
Sub.
Bond
,
5.95
%
,
1/15/27
..........................
United
States
172,000
174,067
Intercontinental
Exchange,
Inc.
,
Senior
Note
,
4.35
%
,
6/15/29
...
United
States
200,000
199,668
Jefferies
Financial
Group,
Inc.
,
Senior
Note
,
4.5
%
,
9/15/26
....
United
States
300,000
300,194
LPL
Holdings,
Inc.
,
Senior
Note
,
6.75
%
,
11/17/28
........................
United
States
128,000
134,029
Senior
Note
,
5.2
%
,
3/15/30
..........................
United
States
218,000
220,185
Morgan
Stanley
,
Senior
Bond
,
5.073%
to
1/29/36,
FRN
thereafter
,
1/30/37
...
United
States
130,000
127,249
Senior
Bond
,
5.9%
to
3/12/46,
FRN
thereafter
,
3/13/47
.....
United
States
130,000
130,316
Senior
Note
,
5.123%
to
1/31/28,
FRN
thereafter
,
2/01/29
....
United
States
733,000
740,681
Senior
Note
,
4.994%
to
4/11/28,
FRN
thereafter
,
4/12/29
....
United
States
267,000
269,305
Senior
Note
,
5.23%
to
1/14/30,
FRN
thereafter
,
1/15/31
.....
United
States
285,000
289,797
Senior
Note
,
4.493%
to
1/15/31,
FRN
thereafter
,
1/16/32
....
United
States
130,000
127,945
Senior
Note
,
4.708%
to
3/11/31,
FRN
thereafter
,
3/12/32
....
United
States
190,000
188,576
Sub.
Bond
,
5.948%
to
1/18/33,
FRN
thereafter
,
1/19/38
.....
United
States
30,000
30,917
b
MSCI,
Inc.
,
Senior
Bond
,
144A,
3.625
%
,
9/01/30
............
United
States
451,000
427,041
Nasdaq,
Inc.
,
Senior
Bond
,
5.55
%
,
2/15/34
................
United
States
30,000
31,001
3,767,096
Chemicals
0.1%
FMC
Corp.
,
Sub.
Bond
,
8.45%
to
10/31/30,
FRN
thereafter
,
11/01/55
........................................
United
States
155,000
102,829
Commercial
Services
&
Supplies
0.6%
Republic
Services,
Inc.
,
Senior
Note
,
5
%
,
11/15/29
..........
United
States
378,000
386,010
Waste
Connections,
Inc.
,
Senior
Bond
,
5
%
,
3/01/34
...........................
United
States
463,000
466,608
Senior
Bond
,
4.8
%
,
7/15/36
..........................
United
States
155,000
151,793
Waste
Management,
Inc.
,
Senior
Note
,
4.875
%
,
2/15/29
......
United
States
147,000
149,302
1,153,713
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
11
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Communications
Equipment
0.2%
Motorola
Solutions,
Inc.
,
Senior
Bond
,
2.3
%
,
11/15/30
.........................
United
States
52,000
$
46,995
Senior
Bond
,
5.4
%
,
4/15/34
..........................
United
States
215,000
217,939
Senior
Note
,
4.85
%
,
8/15/30
.........................
United
States
59,000
59,494
324,428
Consumer
Finance
1.4%
AerCap
Ireland
Capital
DAC
/
AerCap
Global
Aviation
Trust
,
Senior
Bond
,
3.3
%
,
1/30/32
..........................
Ireland
660,000
603,419
Senior
Note
,
4.125
%
,
2/28/29
........................
Ireland
150,000
148,178
Ally
Financial,
Inc.
,
Senior
Bond
,
8
%
,
11/01/31
.............
United
States
162,000
181,011
American
Express
Co.
,
Senior
Note
,
5.098%
to
2/15/27,
FRN
thereafter
,
2/16/28
.................................
United
States
311,000
312,867
b
Avolon
Holdings
Funding
Ltd.
,
Senior
Note
,
144A,
5.75
%
,
11/15/29
...................
Ireland
270,000
276,756
Senior
Note
,
144A,
4.9
%
,
10/10/30
....................
Ireland
295,000
293,568
Capital
One
Financial
Corp.
,
Senior
Note
,
1.878%
to
11/01/26,
FRN
thereafter
,
11/02/27
..
United
States
104,000
102,593
Senior
Note
,
4.493%
to
9/10/30,
FRN
thereafter
,
9/11/31
....
United
States
165,000
162,387
Ford
Motor
Credit
Co.
LLC
,
Senior
Note
,
5.8
%
,
3/05/27
.......
United
States
200,000
201,449
General
Motors
Financial
Co.,
Inc.
,
Senior
Bond
,
5.45
%
,
9/06/34
.........................
United
States
105,000
105,006
Senior
Note
,
4.2
%
,
10/27/28
.........................
United
States
70,000
69,441
Senior
Note
,
5.8
%
,
1/07/29
..........................
United
States
175,000
180,098
Senior
Note
,
4.9
%
,
10/06/29
.........................
United
States
66,000
66,440
b
Macquarie
Airfinance
Holdings
Ltd.
,
Senior
Note
,
144A,
5.15
%
,
3/17/30
....................
United
Kingdom
159,000
158,429
Senior
Note
,
144A,
6.5
%
,
3/26/31
.....................
United
Kingdom
180,000
188,212
3,049,854
Consumer
Staples
Distribution
&
Retail
0.3%
b
7-Eleven,
Inc.
,
Senior
Bond
,
144A,
1.8
%
,
2/10/31
.....................
United
States
54,000
47,059
Senior
Note
,
144A,
1.3
%
,
2/10/28
.....................
United
States
483,000
457,287
b
Alimentation
Couche-Tard,
Inc.
,
Senior
Bond
,
144A,
3.55
%
,
7/26/27
.........................................
Canada
256,000
253,362
757,708
Containers
&
Packaging
0.3%
AptarGroup,
Inc.
,
Senior
Note
,
4.75
%
,
3/30/31
.............
United
States
130,000
129,125
Berry
Global,
Inc.
,
Senior
Secured
Note
,
1.65
%
,
1/15/27
..................
United
States
292,000
286,476
Senior
Secured
Note
,
5.5
%
,
4/15/28
...................
United
States
25,000
25,471
WestRock
MWV
LLC
,
Senior
Bond
,
8.2
%
,
1/15/30
...........
United
States
155,000
173,627
614,699
Diversified
REITs
0.5%
VICI
Properties
LP
,
Senior
Bond
,
5.75
%
,
4/01/34
.........................
United
States
257,000
261,047
Senior
Note
,
4.75
%
,
2/15/28
.........................
United
States
165,000
165,287
b
VICI
Properties
LP
/
VICI
Note
Co.,
Inc.
,
Senior
Note
,
144A,
3.75
%
,
2/15/27
....................
United
States
62,000
61,570
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
12
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Diversified
REITs
(continued)
b
VICI
Properties
LP
/
VICI
Note
Co.,
Inc.,
(continued)
Senior
Note
,
144A,
3.875
%
,
2/15/29
...................
United
States
510,000
$
496,887
984,791
Diversified
Telecommunication
Services
0.9%
AT&T,
Inc.
,
Senior
Bond
,
2.55
%
,
12/01/33
........................
United
States
9,000
7,612
Senior
Bond
,
5.125
%
,
4/30/36
........................
United
States
110,000
108,238
Senior
Bond
,
6.2
%
,
10/30/56
.........................
United
States
90,000
89,216
Senior
Note
,
4.1
%
,
2/15/28
..........................
United
States
95,000
94,662
b
Cipher
Compute
LLC
,
Senior
Secured
Note
,
144A,
7.125
%
,
11/15/30
........................................
United
States
490,000
508,502
Comcast
Corp.
,
Senior
Bond
,
2.35
%
,
1/15/27
..............
United
States
368,000
363,740
b
RD
Michigan
Property
Owner
I
LLC
,
Senior
Secured
Bond
,
144A,
7.5
%
,
3/30/45
....................................
United
States
305,000
305,092
Sprint
Capital
Corp.
,
Senior
Bond
,
6.875
%
,
11/15/28
.........
United
States
217,000
229,150
b
SV
RNO
Property
Owner
1
LLC
,
Senior
Secured
Note
,
144A,
5.875
%
,
3/01/31
...................................
United
States
155,000
152,179
Verizon
Communications,
Inc.
,
Senior
Bond
,
5.25
%
,
4/02/35
.........................
United
States
58,000
58,010
Senior
Bond
,
5.875
%
,
11/30/55
.......................
United
States
80,000
77,368
Senior
Note
,
4.75
%
,
1/15/33
.........................
United
States
116,000
114,505
2,108,274
Electric
Utilities
2.9%
American
Electric
Power
Co.,
Inc.
,
C
,
Junior
Sub.
Bond
,
5.8%
to
3/14/31,
FRN
thereafter
,
3/15/56
United
States
285,000
283,592
D
,
Junior
Sub.
Bond
,
6.05%
to
3/14/36,
FRN
thereafter
,
3/15/56
.........................................
United
States
95,000
94,743
Senior
Bond
,
5.625
%
,
3/01/33
........................
United
States
98,000
101,388
DTE
Electric
Co.
,
Senior
Bond
,
5.25
%
,
5/15/35
.........................
United
States
165,000
167,404
A
,
Senior
Bond
,
4.85
%
,
3/01/36
.......................
United
States
125,000
122,270
Duke
Energy
Corp.
,
Senior
Bond
,
3.15
%
,
8/15/27
.........................
United
States
368,000
363,200
Senior
Bond
,
5.8
%
,
6/15/54
..........................
United
States
63,000
60,313
Senior
Note
,
4.85
%
,
1/05/29
.........................
United
States
26,000
26,259
b
Enel
Finance
International
NV
,
Senior
Bond
,
144A,
7.5
%
,
10/14/32
....................
Italy
410,000
463,166
Senior
Note
,
144A,
4.375
%
,
9/30/30
...................
Italy
235,000
231,222
Eversource
Energy
,
Senior
Note
,
5.45
%
,
3/01/28
............
United
States
49,000
49,748
Exelon
Corp.
,
Senior
Bond
,
5.625
%
,
6/15/35
........................
United
States
126,000
129,293
Senior
Note
,
5.15
%
,
3/15/29
.........................
United
States
383,000
390,207
FirstEnergy
Transmission
LLC
,
Senior
Note
,
4.55
%
,
1/15/30
...
United
States
155,000
154,917
Georgia
Power
Co.
,
Senior
Bond
,
4.95
%
,
5/17/33
.........................
United
States
121,000
121,906
Senior
Bond
,
5.25
%
,
3/15/34
.........................
United
States
275,000
280,326
IPALCO
Enterprises,
Inc.
,
Senior
Secured
Note
,
4.25
%
,
5/01/30
United
States
315,000
304,309
NextEra
Energy
Capital
Holdings,
Inc.
,
Senior
Bond
,
3.55
%
,
5/01/27
.........................
United
States
368,000
365,521
Senior
Bond
,
5.9
%
,
3/15/55
..........................
United
States
40,000
39,221
Northern
States
Power
Co.
,
Senior
Bond
,
5.05
%
,
5/15/35
.....
United
States
180,000
181,381
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
13
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Electric
Utilities
(continued)
Pacific
Gas
and
Electric
Co.
,
Senior
Bond
,
5.9
%
,
6/15/32
..........................
United
States
117,000
$
121,580
Senior
Bond
,
5.2
%
,
5/01/36
..........................
United
States
20,000
19,489
Senior
Bond
,
4.95
%
,
7/01/50
.........................
United
States
90,000
74,800
Senior
Bond
,
6.75
%
,
1/15/53
.........................
United
States
170,000
177,639
Senior
Note
,
5.55
%
,
5/15/29
.........................
United
States
324,000
331,397
Southern
Co.
(The)
,
Senior
Bond
,
5.7
%
,
3/15/34
..........................
United
States
167,000
173,220
Senior
Note
,
5.5
%
,
3/15/29
..........................
United
States
26,000
26,738
Virginia
Electric
and
Power
Co.
,
Senior
Bond
,
5.05
%
,
8/15/34
.........................
United
States
100,000
100,205
Senior
Bond
,
4.95
%
,
3/15/36
.........................
United
States
240,000
234,068
C
,
Senior
Bond
,
4.9
%
,
9/15/35
.......................
United
States
230,000
225,104
b
Vistra
Operations
Co.
LLC
,
Senior
Bond
,
144A,
6
%
,
4/15/34
......................
United
States
368,000
380,027
Senior
Bond
,
144A,
5.25
%
,
10/15/35
...................
United
States
85,000
82,538
Senior
Note
,
144A,
3.7
%
,
1/30/27
.....................
United
States
224,000
222,918
Senior
Secured
Bond
,
144A,
4.3
%
,
7/15/29
..............
United
States
184,000
180,623
Xcel
Energy,
Inc.
,
Senior
Bond
,
5.6
%
,
4/15/35
..............
United
States
190,000
193,583
6,474,315
Electrical
Equipment
0.4%
Eaton
Corp.
,
Senior
Bond
,
4.8
%
,
3/06/36
.................
United
States
200,000
196,971
b
Vertiv
Group
Corp.
,
Senior
Secured
Note
,
144A,
4.125
%
,
11/15/28
........................................
United
States
475,000
469,601
Vertiv
Holdings
Co.
,
Senior
Bond
,
4.85
%
,
3/15/36
.........................
United
States
219,000
213,274
Senior
Bond
,
5.8
%
,
3/15/56
..........................
United
States
50,000
48,525
928,371
Electronic
Equipment,
Instruments
&
Components
0.1%
Amphenol
Corp.
,
Senior
Note
,
4.4
%
,
2/15/33
...............
United
States
240,000
234,693
Entertainment
0.3%
b
Netflix,
Inc.
,
Senior
Bond
,
Reg
S,
3.875
%
,
11/15/29
.................
United
States
435,000
EUR
521,632
Senior
Bond
,
144A,
5.375
%
,
11/15/29
..................
United
States
20,000
20,554
542,186
Financial
Services
0.3%
Corebridge
Financial,
Inc.
,
Senior
Note
,
3.85
%
,
4/05/29
.......
United
States
149,000
145,906
b
Petronas
Capital
Ltd.
,
Senior
Note
,
144A,
4.95
%
,
1/03/31
.....
Malaysia
380,000
389,247
535,153
Food
Products
1.0%
JBS
NV
/
JBS
USA
Foods
Group
Holdings,
Inc.
/
JBS
USA
Food
Co.
Holdings
,
b
Senior
Bond
,
144A,
5.625
%
,
3/10/37
...................
United
States
45,000
44,946
b
Senior
Bond
,
144A,
6.4
%
,
5/10/57
.....................
United
States
45,000
44,310
Senior
Note
,
3
%
,
2/02/29
...........................
United
States
192,000
184,523
Senior
Note
,
6.75
%
,
3/15/34
.........................
United
States
20,000
21,748
Senior
Note
,
5.95
%
,
4/20/35
.........................
United
States
45,000
46,632
Kellanova
,
Senior
Bond
,
4.5
%
,
4/01/46
..........................
United
States
32,000
27,365
B
,
Senior
Bond
,
7.45
%
,
4/01/31
.......................
United
States
47,000
52,941
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
14
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Food
Products
(continued)
Kraft
Heinz
Foods
Co.
,
Senior
Bond
,
6.875
%
,
1/26/39
........................
United
States
65,000
$
70,814
Senior
Bond
,
4.625
%
,
10/01/39
.......................
United
States
65,000
57,474
Senior
Bond
,
5
%
,
6/04/42
...........................
United
States
260,000
230,013
b
Mars,
Inc.
,
Senior
Bond
,
144A,
5.65
%
,
5/01/45
....................
United
States
125,000
123,096
Senior
Bond
,
144A,
5.7
%
,
5/01/55
.....................
United
States
240,000
233,691
Senior
Bond
,
144A,
5.8
%
,
5/01/65
.....................
United
States
65,000
63,779
Senior
Note
,
144A,
4.6
%
,
3/01/28
.....................
United
States
575,000
578,577
Senior
Note
,
144A,
5
%
,
3/01/32
......................
United
States
35,000
35,515
Senior
Note
,
144A,
5.2
%
,
3/01/35
.....................
United
States
205,000
206,900
Pilgrim's
Pride
Corp.
,
Senior
Note
,
3.5
%
,
3/01/32
...........
United
States
85,000
77,689
2,100,013
Ground
Transportation
0.8%
b
Ashtead
Capital,
Inc.
,
Senior
Bond
,
144A,
4.375
%
,
8/15/27
....
United
Kingdom
435,000
432,539
Burlington
Northern
Santa
Fe
LLC
,
Senior
Bond
,
5.55
%
,
3/15/56
United
States
115,000
111,334
b
Penske
Truck
Leasing
Co.
LP
/
PTL
Finance
Corp.
,
Senior
Bond
,
144A,
3.4
%
,
11/15/26
....................
United
States
93,000
92,514
Senior
Note
,
144A,
4.4
%
,
7/01/27
.....................
United
States
395,000
394,325
b
SMBC
Aviation
Capital
Finance
DAC
,
Senior
Note
,
144A,
5.3
%
,
4/03/29
.....................
Ireland
485,000
492,097
Senior
Note
,
144A,
5.1
%
,
4/01/30
.....................
Ireland
200,000
201,695
1,724,504
Health
Care
Equipment
&
Supplies
0.2%
GE
HealthCare
Technologies,
Inc.
,
Senior
Note
,
5.65
%
,
11/15/27
United
States
190,000
193,492
b
Medline
Borrower
LP
,
Senior
Secured
Note
,
144A,
3.875
%
,
4/01/29
.........................................
United
States
275,000
267,317
460,809
Health
Care
Providers
&
Services
0.6%
CVS
Health
Corp.
,
Junior
Sub.
Bond
,
7%
to
3/09/30,
FRN
thereafter
,
3/10/55
...
United
States
220,000
228,401
Senior
Bond
,
1.875
%
,
2/28/31
........................
United
States
85,000
74,552
Senior
Bond
,
4.78
%
,
3/25/38
.........................
United
States
127,000
117,752
HCA,
Inc.
,
Senior
Bond
,
5.6
%
,
4/01/34
..........................
United
States
200,000
205,070
Senior
Bond
,
6
%
,
4/01/54
...........................
United
States
263,000
253,794
Senior
Note
,
3.625
%
,
3/15/32
........................
United
States
59,000
55,089
Humana,
Inc.
,
Senior
Note
,
5.75
%
,
3/01/28
................
United
States
180,000
183,563
Icon
Investments
Six
DAC
,
Senior
Secured
Note
,
5.809
%
,
5/08/27
.........................................
United
States
215,000
216,692
1,334,913
Hotels,
Restaurants
&
Leisure
1.0%
Airbnb,
Inc.
,
Senior
Bond
,
5.25
%
,
3/16/36
.........................
United
States
50,000
49,884
Senior
Note
,
4.65
%
,
3/16/31
.........................
United
States
95,000
94,867
b
Carnival
Corp.
,
Senior
Note
,
144A,
5.125
%
,
5/01/29
...................
United
States
295,000
294,269
Senior
Note
,
144A,
5.75
%
,
3/15/30
....................
United
States
298,000
302,483
Senior
Note
,
144A,
5.75
%
,
8/01/32
....................
United
States
275,000
276,726
Senior
Secured
Note
,
144A,
4
%
,
8/01/28
................
United
States
687,000
671,179
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
15
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Hotels,
Restaurants
&
Leisure
(continued)
Hyatt
Hotels
Corp.
,
Senior
Note
,
5.25
%
,
6/30/29
.........................
United
States
185,000
$
187,947
Senior
Note
,
5.375
%
,
12/15/31
.......................
United
States
120,000
122,345
Marriott
International,
Inc.
,
Senior
Note
,
4.5
%
,
5/01/33
........
United
States
135,000
130,888
2,130,588
Household
Durables
0.2%
DR
Horton,
Inc.
,
Senior
Bond
,
5
%
,
10/15/34
...............
United
States
70,000
69,334
Toll
Brothers
Finance
Corp.
,
Senior
Bond
,
4.35
%
,
2/15/28
.........................
United
States
111,000
110,608
Senior
Bond
,
3.8
%
,
11/01/29
.........................
United
States
425,000
414,226
594,168
Independent
Power
and
Renewable
Electricity
Producers
0.6%
b
AES
Andes
SA
,
Senior
Note
,
144A,
6.25
%
,
3/14/32
..........
Chile
200,000
207,352
b
Alexander
Funding
Trust
II
,
Senior
Secured
Note
,
144A,
7.467
%
,
7/31/28
.........................................
United
States
240,000
252,630
Constellation
Energy
Generation
LLC
,
Senior
Bond
,
6.125
%
,
1/15/34
........................
United
States
99,000
106,120
Senior
Bond
,
6.5
%
,
10/01/53
.........................
United
States
120,000
127,555
Senior
Bond
,
5.75
%
,
3/15/54
.........................
United
States
184,000
179,867
Senior
Note
,
5.6
%
,
3/01/28
..........................
United
States
342,000
349,009
Senior
Note
,
4.4
%
,
1/15/31
..........................
United
States
95,000
94,035
Southern
Power
Co.
,
B
,
Senior
Bond
,
4.9
%
,
10/01/35
.......................
United
States
65,000
62,985
A
,
Senior
Note
,
4.25
%
,
10/01/30
......................
United
States
35,000
34,595
1,414,148
Insurance
1.2%
Arthur
J
Gallagher
&
Co.
,
Senior
Note
,
4.85
%
,
12/15/29
......
United
States
125,000
126,242
b
Athene
Global
Funding
,
Secured
Note
,
144A,
1.985
%
,
8/19/28
..................
United
States
385,000
360,334
Secured
Note
,
144A,
5.526
%
,
7/11/31
..................
United
States
320,000
321,790
Secured
Note
,
144A,
5.322
%
,
11/13/31
.................
United
States
222,000
221,306
Athene
Holding
Ltd.
,
Senior
Bond
,
6.25
%
,
4/01/54
...........
United
States
108,000
99,382
Brown
&
Brown,
Inc.
,
Senior
Note
,
4.9
%
,
6/23/30
..........................
United
States
246,000
245,764
Senior
Note
,
5.25
%
,
6/23/32
.........................
United
States
89,000
88,854
CNA
Financial
Corp.
,
Senior
Bond
,
5.125
%
,
2/15/34
.........
United
States
162,000
160,744
b
CNO
Global
Funding
,
Secured
Note
,
144A,
4.95
%
,
9/09/29
....
United
States
54,000
54,414
b
Massachusetts
Mutual
Life
Insurance
Co.
,
Sub.
Bond
,
144A,
3.729
%
,
10/15/70
..................................
United
States
387,000
244,748
b
MetLife
Capital
Trust
IV
,
Junior
Sub.
Bond
,
144A,
7.875
%
,
12/15/37
........................................
United
States
110,000
120,466
b
Protective
Life
Global
Funding
,
Secured
Note
,
144A,
5.467
%
,
12/08/28
........................................
United
States
305,000
311,730
b
Teachers
Insurance
&
Annuity
Association
of
America
,
Sub.
Bond
,
144A,
6.85
%
,
12/16/39
..............................
United
States
92,000
103,197
2,458,971
Interactive
Media
&
Services
0.2%
Meta
Platforms,
Inc.
,
Senior
Bond
,
5.25
%
,
5/15/36
.........................
United
States
140,000
139,769
Senior
Bond
,
6.3
%
,
5/15/56
..........................
United
States
100,000
100,355
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
16
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Interactive
Media
&
Services
(continued)
Meta
Platforms,
Inc.,
(continued)
Senior
Note
,
3.5
%
,
8/15/27
..........................
United
States
175,000
$
173,847
413,971
IT
Services
0.1%
b
Beignet
Investor
LLC
,
Senior
Secured
Bond
,
144A,
6.581
%
,
5/30/49
.........................................
United
States
121,000
125,070
Leisure
Products
0.1%
Brunswick
Corp.
,
Senior
Bond
,
2.4
%
,
8/18/31
..............
United
States
297,000
258,940
Life
Sciences
Tools
&
Services
0.2%
Illumina,
Inc.
,
Senior
Note
,
4.65
%
,
9/09/26
................
United
States
150,000
150,101
Thermo
Fisher
Scientific,
Inc.
,
Senior
Bond
,
4.902
%
,
2/12/36
...
United
States
115,000
113,887
263,988
Media
0.3%
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
Corp.
,
Senior
Secured
Bond
,
5.85
%
,
12/01/35
.................
United
States
125,000
122,035
Senior
Secured
Bond
,
3.5
%
,
6/01/41
...................
United
States
110,000
76,368
Time
Warner
Cable
Enterprises
LLC
,
Senior
Secured
Bond
,
8.375
%
,
7/15/33
...................................
United
States
448,000
507,602
706,005
Metals
&
Mining
0.6%
b
Anglo
American
Capital
plc
,
Senior
Note
,
144A,
5
%
,
3/21/33
...
South
Africa
200,000
197,869
b
Glencore
Finance
Canada
Ltd.
,
Senior
Bond
,
144A,
6
%
,
11/15/41
Australia
115,000
117,259
b
Glencore
Funding
LLC
,
Senior
Bond
,
144A,
5.634
%
,
4/04/34
...................
Australia
396,000
407,136
Senior
Bond
,
144A,
5.508
%
,
4/01/36
...................
Australia
170,000
171,259
Senior
Note
,
144A,
6.375
%
,
10/06/30
..................
Australia
247,000
261,933
1,155,456
Multi-Utilities
0.3%
Ameren
Corp.
,
Senior
Note
,
5
%
,
1/15/29
..................
United
States
198,000
201,018
Dominion
Energy,
Inc.
,
Junior
Sub.
Bond
,
6.2%
to
2/14/36,
FRN
thereafter
,
2/15/56
.................................
United
States
140,000
140,329
DTE
Energy
Co.
,
Senior
Note
,
4.95
%
,
7/01/27
..............
United
States
155,000
155,989
Southern
Co.
Gas
Capital
Corp.
,
Senior
Bond
,
4.95
%
,
9/15/34
.
United
States
100,000
98,651
595,987
Oil,
Gas
&
Consumable
Fuels
2.4%
b
Aker
BP
ASA
,
Senior
Bond
,
144A,
5.8
%
,
10/01/54
...........
Norway
190,000
174,884
Canadian
Natural
Resources
Ltd.
,
Senior
Bond
,
7.2
%
,
1/15/32
..........................
Canada
238,000
265,320
Senior
Note
,
5
%
,
12/15/29
..........................
Canada
104,000
105,522
Cheniere
Energy
Partners
LP
,
Senior
Bond
,
3.25
%
,
1/31/32
.........................
United
States
137,000
125,421
Senior
Note
,
4.5
%
,
10/01/29
.........................
United
States
242,000
240,805
b
Cheniere
Energy,
Inc.
,
Senior
Bond
,
144A,
5.2
%
,
7/30/36
.....
United
States
35,000
34,615
b
Columbia
Pipelines
Operating
Co.
LLC
,
Senior
Note
,
144A,
5.927
%
,
8/15/30
...................................
United
States
95,000
99,429
b
DT
Midstream,
Inc.
,
Senior
Bond
,
144A,
5.8
%
,
12/15/34
......
United
States
310,000
319,623
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
17
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Oil,
Gas
&
Consumable
Fuels
(continued)
Eastern
Energy
Gas
Holdings
LLC
,
Senior
Bond
,
5.8
%
,
1/15/35
..........................
United
States
137,000
$
142,607
Senior
Bond
,
5.65
%
,
10/15/54
........................
United
States
53,000
49,994
Energy
Transfer
LP
,
c
B
,
Junior
Sub.
Bond
,
6.625%
to
2/14/28,
FRN
thereafter
,
Perpetual
.......................................
United
States
330,000
333,957
Senior
Note
,
5.25
%
,
7/01/29
.........................
United
States
203,000
207,383
Senior
Note
,
5.2
%
,
4/01/30
..........................
United
States
120,000
122,611
b
KazMunayGas
National
Co.
JSC
,
Senior
Bond
,
Reg
S,
5.375
%
,
4/24/30
.........................................
Kazakhstan
260,000
264,843
Kinder
Morgan,
Inc.
,
Senior
Note
,
5
%
,
2/01/29
.............
United
States
139,000
141,127
ONEOK,
Inc.
,
Senior
Note
,
4.75
%
,
10/15/31
...............
United
States
265,000
263,437
b
Pertamina
Hulu
Energi
PT
,
Senior
Note
,
144A,
5.25
%
,
5/21/30
.
Indonesia
230,000
232,557
South
Bow
USA
Infrastructure
Holdings
LLC
,
Senior
Note
,
5.026
%
,
10/01/29
..................................
Canada
505,000
508,700
Targa
Resources
Corp.
,
Senior
Note
,
4.35
%
,
4/15/31
........
United
States
105,000
102,959
Targa
Resources
Partners
LP
/
Targa
Resources
Partners
Finance
Corp.
,
Senior
Bond
,
4.875
%
,
2/01/31
............
United
States
84,000
83,983
Transcontinental
Gas
Pipe
Line
Co.
LLC
,
Senior
Note
,
5.1
%
,
3/15/36
.........................................
United
States
130,000
129,039
b
Venture
Global
Calcasieu
Pass
LLC
,
Senior
Secured
Bond
,
144A,
6
%
,
5/01/36
...............
United
States
85,000
85,701
Senior
Secured
Note
,
144A,
6.25
%
,
1/15/30
.............
United
States
545,000
561,216
Viper
Energy
Partners
LLC
,
Senior
Bond
,
5.7
%
,
8/01/35
..........................
United
States
126,000
127,982
Senior
Note
,
4.9
%
,
8/01/30
..........................
United
States
128,000
127,991
Williams
Cos.,
Inc.
(The)
,
Senior
Bond
,
5.6
%
,
3/15/35
........
United
States
175,000
179,396
5,031,102
Paper
&
Forest
Products
0.2%
b
Georgia-Pacific
LLC
,
Senior
Note
,
144A,
4.95
%
,
6/30/32
....................
United
States
280,000
283,811
Senior
Note
,
144A,
4.9
%
,
5/15/33
.....................
United
States
160,000
159,724
443,535
Passenger
Airlines
0.2%
b
AS
Mileage
Plan
IP
Ltd.
,
Senior
Secured
Note
,
144A,
5.021
%
,
10/20/29
........................................
United
States
345,000
341,559
Personal
Care
Products
0.5%
Haleon
US
Capital
LLC
,
Senior
Note
,
3.375
%
,
3/24/27
........................
United
States
250,000
247,967
Senior
Note
,
3.375
%
,
3/24/29
........................
United
States
310,000
301,465
Kenvue,
Inc.
,
Senior
Note
,
4.85
%
,
5/22/32
.................
United
States
460,000
465,518
1,014,950
Pharmaceuticals
1.1%
Merck
&
Co.,
Inc.
,
Senior
Bond
,
4.75
%
,
12/04/35
............
United
States
100,000
97,926
Novartis
Capital
Corp.
,
Senior
Bond
,
4.9
%
,
3/18/36
..........................
United
States
145,000
144,052
Senior
Bond
,
5.7
%
,
3/18/56
..........................
United
States
75,000
75,177
Senior
Note
,
4.1
%
,
11/05/30
.........................
United
States
445,000
439,300
Senior
Note
,
4.6
%
,
3/18/33
..........................
United
States
115,000
114,239
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
18
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Pharmaceuticals
(continued)
Pfizer
Investment
Enterprises
Pte.
Ltd.
,
Senior
Bond
,
5.3
%
,
5/19/53
..........................
United
States
124,000
$
114,952
Senior
Note
,
4.45
%
,
5/19/28
.........................
United
States
102,000
102,487
Pharmacia
LLC
,
Senior
Bond
,
6.6
%
,
12/01/28
..............
United
States
190,000
200,655
Royalty
Pharma
plc
,
Senior
Bond
,
5.4
%
,
9/02/34
..........................
United
States
191,000
193,628
Senior
Bond
,
5.2
%
,
9/25/35
..........................
United
States
130,000
128,876
Senior
Note
,
2.2
%
,
9/02/30
..........................
United
States
154,000
139,120
Teva
Pharmaceutical
Finance
Netherlands
III
BV
,
Senior
Bond
,
4.1
%
,
10/01/46
...................................
Israel
230,000
177,389
Zoetis,
Inc.
,
Senior
Bond
,
5
%
,
8/17/35
....................
United
States
520,000
517,993
2,445,794
Professional
Services
0.2%
Paychex,
Inc.
,
Senior
Note
,
5.1
%
,
4/15/30
.................
United
States
492,000
497,453
Semiconductors
&
Semiconductor
Equipment
1.2%
Broadcom,
Inc.
,
Senior
Bond
,
4.95
%
,
1/15/36
.........................
United
States
105,000
104,008
Senior
Bond
,
5.7
%
,
1/15/56
..........................
United
States
15,000
14,923
b
Senior
Bond
,
144A,
4.926
%
,
5/15/37
...................
United
States
364,000
354,781
Senior
Note
,
3.459
%
,
9/15/26
........................
United
States
600,000
598,630
b
Foundry
JV
Holdco
LLC
,
Senior
Secured
Bond
,
144A,
6.4
%
,
1/25/38
..............
United
States
200,000
213,882
Senior
Secured
Note
,
144A,
6.15
%
,
1/25/32
.............
United
States
355,000
373,741
Senior
Secured
Note
,
144A,
5.9
%
,
1/25/33
..............
United
States
200,000
208,256
Intel
Corp.
,
Senior
Bond
,
4.15
%
,
8/05/32
.........................
United
States
380,000
365,619
Senior
Bond
,
5.3
%
,
5/15/36
..........................
United
States
101,495
101,108
Senior
Bond
,
6.125
%
,
5/15/56
........................
United
States
62,319
61,898
Marvell
Technology,
Inc.
,
Senior
Bond
,
5.3
%
,
4/15/36
..........................
United
States
230,000
230,214
Senior
Note
,
4.75
%
,
7/15/30
.........................
United
States
75,000
75,360
2,702,420
Software
0.6%
Oracle
Corp.
,
Senior
Bond
,
5.7
%
,
2/04/36
..........................
United
States
235,000
225,800
Senior
Bond
,
3.65
%
,
3/25/41
.........................
United
States
77,000
54,669
Senior
Bond
,
6.7
%
,
2/04/56
..........................
United
States
75,000
69,176
Senior
Note
,
4.45
%
,
9/26/30
.........................
United
States
130,000
125,416
Senior
Note
,
4.8
%
,
9/26/32
..........................
United
States
170,000
161,711
Salesforce,
Inc.
,
Senior
Note
,
5.2
%
,
3/15/33
...............
United
States
280,000
279,579
Synopsys,
Inc.
,
Senior
Bond
,
5.15
%
,
4/01/35
.........................
United
States
447,000
447,206
Senior
Bond
,
5.7
%
,
4/01/55
..........................
United
States
20,000
19,221
1,382,778
Specialized
REITs
0.6%
American
Tower
Corp.
,
Senior
Bond
,
3.55
%
,
7/15/27
.........................
United
States
446,000
441,848
Senior
Bond
,
3.8
%
,
8/15/29
..........................
United
States
200,000
195,587
Senior
Bond
,
2.9
%
,
1/15/30
..........................
United
States
217,000
204,322
Senior
Note
,
4.7
%
,
12/15/32
.........................
United
States
75,000
74,098
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
19
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Specialized
REITs
(continued)
Crown
Castle,
Inc.
,
Senior
Bond
,
3.65
%
,
9/01/27
.........................
United
States
172,000
$
170,125
Senior
Bond
,
3.8
%
,
2/15/28
..........................
United
States
100,000
98,660
EPR
Properties
,
Senior
Bond
,
4.5
%
,
6/01/27
...............
United
States
58,000
57,841
Equinix,
Inc.
,
Senior
Bond
,
3.2
%
,
11/18/29
................
United
States
168,000
160,406
1,402,887
Specialty
Retail
0.1%
Dick's
Sporting
Goods,
Inc.
,
Senior
Bond
,
3.15
%
,
1/15/32
.........................
United
States
185,000
168,637
Senior
Bond
,
4.1
%
,
1/15/52
..........................
United
States
200,000
142,089
310,726
Technology
Hardware,
Storage
&
Peripherals
0.1%
Hewlett
Packard
Enterprise
Co.
,
Senior
Note
,
4.55
%
,
10/15/29
........................
United
States
139,000
138,529
Senior
Note
,
4.85
%
,
10/15/31
........................
United
States
162,000
161,116
299,645
Textiles,
Apparel
&
Luxury
Goods
0.2%
Tapestry,
Inc.
,
Senior
Bond
,
3.05
%
,
3/15/32
.........................
United
States
57,000
51,439
Senior
Bond
,
5.5
%
,
3/11/35
..........................
United
States
170,000
170,867
Senior
Note
,
5.1
%
,
3/11/30
..........................
United
States
140,000
141,739
364,045
Tobacco
0.9%
BAT
Capital
Corp.
,
Senior
Bond
,
4.39
%
,
8/15/37
.........................
United
Kingdom
143,000
130,303
Senior
Note
,
4.625
%
,
3/22/33
........................
United
Kingdom
510,000
499,928
Philip
Morris
International,
Inc.
,
Senior
Note
,
4.875
%
,
2/13/29
........................
United
States
535,000
542,099
Senior
Note
,
5.125
%
,
2/15/30
........................
United
States
626,000
639,457
1,811,787
Trading
Companies
&
Distributors
0.5%
b
Aviation
Capital
Group
LLC
,
Senior
Note
,
144A,
6.25
%
,
4/15/28
....................
United
States
270,000
277,317
Senior
Note
,
144A,
5.375
%
,
7/15/29
...................
United
States
260,000
264,338
Senior
Note
,
144A,
5.125
%
,
4/10/30
...................
United
States
275,000
277,093
Sumisho
Air
Lease
Corp.
,
Senior
Note
,
5.85
%
,
12/15/27
......
United
States
139,000
141,680
960,428
Wireless
Telecommunication
Services
0.9%
Rogers
Communications,
Inc.
,
Senior
Note
,
5
%
,
2/15/29
...........................
Canada
306,000
308,633
Senior
Note
,
3.8
%
,
3/15/32
..........................
Canada
144,000
134,589
Sub.
Bond
,
7.125%
to
4/14/35,
FRN
thereafter
,
4/15/55
.....
Canada
160,000
165,161
NC5
,
Sub.
Bond
,
7%
to
4/14/30,
FRN
thereafter
,
4/15/55
....
Canada
320,000
326,803
T-Mobile
USA,
Inc.
,
Senior
Bond
,
5
%
,
2/15/36
...........................
United
States
205,000
200,683
Senior
Note
,
3.75
%
,
4/15/27
.........................
United
States
329,000
327,733
Senior
Note
,
2.05
%
,
2/15/28
.........................
United
States
240,000
230,454
Senior
Note
,
3.375
%
,
4/15/29
........................
United
States
198,000
192,195
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
20
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Wireless
Telecommunication
Services
(continued)
T-Mobile
USA,
Inc.,
(continued)
Senior
Note
,
3.875
%
,
4/15/30
........................
United
States
11,000
$
10,713
Senior
Note
,
6.7
%
,
12/15/33
.........................
United
States
25,000
27,441
1,924,405
Total
Corporate
Bonds
(Cost
$
72,469,131
)
....................................
72,441,266
Foreign
Government
and
Agency
Securities
31.4%
b
Angola
Government
Bond
,
Senior
Bond
,
144A,
8.25
%
,
5/09/28
.
Angola
260,000
266,756
b
Australia
Government
Bond
,
Senior
Bond
,
Reg
S,
2.25
%
,
5/21/28
...................
Australia
1,640,000
AUD
1,123,300
Senior
Bond
,
Reg
S,
3.75
%
,
4/21/37
...................
Australia
220,000
AUD
140,493
Senior
Bond
,
Reg
S,
3
%
,
3/21/47
......................
Australia
310,000
AUD
156,318
b
Austria
Government
Bond
,
Senior
Bond
,
144A,
Reg
S,
0.5
%
,
2/20/29
...............
Austria
630,000
EUR
695,970
Senior
Bond
,
144A,
Reg
S,
1.5
%
,
2/20/47
...............
Austria
360,000
EUR
286,744
b
Bank
Gospodarstwa
Krajowego
,
Senior
Bond
,
Reg
S,
5.375
%
,
5/22/33
.........................................
Poland
200,000
204,496
b
Belgium
Government
Bond
,
Senior
Bond
,
144A,
Reg
S,
1
%
,
6/22/26
.................
Belgium
740,000
EUR
867,348
Senior
Bond
,
144A,
Reg
S,
0.1
%
,
6/22/30
...............
Belgium
1,500,000
EUR
1,569,860
Senior
Bond
,
144A,
Reg
S,
4.25
%
,
3/28/41
..............
Belgium
630,000
EUR
765,227
b
Benin
Government
Bond
,
Senior
Bond
,
Reg
S,
4.95
%
,
1/22/35
.
Benin
225,000
EUR
238,908
Brazil
Government
Bond
,
Senior
Bond
,
3.875
%
,
6/12/30
........................
Brazil
400,000
384,300
Senior
Bond
,
6
%
,
10/20/33
...........................
Brazil
200,000
202,260
b
Bulgaria
Government
Bond
,
Senior
Bond
,
Reg
S,
5
%
,
3/05/37
......................
Bulgaria
88,000
85,917
Senior
Note
,
Reg
S,
3.625
%
,
9/05/32
...................
Bulgaria
210,000
EUR
249,341
b
Bundesrepublik
Deutschland
,
Reg
S,
2.5
%
,
10/11/29
..............................
Germany
900,000
EUR
1,050,566
Reg
S,
2.5
%
,
4/16/31
...............................
Germany
2,000,000
EUR
2,321,186
b
Bundesrepublik
Deutschland
Bundesanleihe
,
Reg
S,
2.6
%
,
8/15/34
.........................................
Germany
900,000
EUR
1,029,620
Chile
Government
Bond
,
Senior
Note
,
4.85
%
,
1/22/29
........
Chile
230,000
233,163
Colombia
Government
Bond
,
Senior
Bond
,
7.5
%
,
2/02/34
..........................
Colombia
240,000
251,640
Senior
Note
,
4.5
%
,
11/26/30
..........................
Colombia
110,000
EUR
127,042
b
Comision
Federal
de
Electricidad
,
Senior
Bond
,
Reg
S,
3.875
%
,
7/26/33
.........................................
Mexico
300,000
262,372
b
Corp.
Nacional
del
Cobre
de
Chile
,
Senior
Bond
,
144A,
6.33
%
,
1/13/35
.........................................
Chile
200,000
212,400
b
Costa
Rica
Government
Bond
,
Senior
Bond
,
144A,
6.125
%
,
2/19/31
.........................................
Costa
Rica
310,000
323,004
Denmark
Government
Bond
,
0.5
%
,
11/15/27
....................................
Denmark
1,550,000
DKK
236,852
4.5
%
,
11/15/39
....................................
Denmark
650,000
DKK
118,417
b
Dominican
Republic
Government
Bond
,
Senior
Bond
,
Reg
S,
6
%
,
7/19/28
......................
Dominican
Republic
260,000
264,199
Senior
Bond
,
Reg
S,
4.875
%
,
9/23/32
..................
Dominican
Republic
270,000
255,406
b
Eagle
Funding
Luxco
SARL
,
Senior
Note
,
144A,
5.5
%
,
8/17/30
.
Mexico
260,000
262,327
Ecopetrol
SA
,
Senior
Bond
,
4.625
%
,
11/02/31
..............
Colombia
140,000
126,218
b
Egypt
Government
Bond
,
Senior
Bond
,
Reg
S,
7.6
%
,
3/01/29
..
Egypt
240,000
246,753
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
21
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
b
El
Salvador
Government
Bond
,
Senior
Bond
,
Reg
S,
8.625
%
,
2/28/29
.........................................
El
Salvador
240,000
$
255,844
b
,c
Electricite
de
France
SA
,
Junior
Sub.
Bond
,
144A,
9.125%
to
6/14/33,
FRN
thereafter
,
Perpetual
.....................
France
200,000
233,288
b
Finland
Government
Bond
,
Senior
Bond
,
144A,
Reg
S,
1.125
%
,
4/15/34
.........................................
Finland
370,000
EUR
371,691
b
France
Government
Bond
,
144A,
Reg
S,
0.5
%
,
5/25/26
..........................
France
230,000
EUR
269,727
144A,
Reg
S,
2.75
%
,
10/25/27
........................
France
1,440,000
EUR
1,689,500
144A,
Reg
S,
2.75
%
,
2/25/29
.........................
France
1,500,000
EUR
1,754,750
144A,
Reg
S,
0.5
%
,
5/25/29
..........................
France
830,000
EUR
906,977
144A,
Reg
S,
11/25/30
..............................
France
560,000
EUR
573,062
144A,
Reg
S,
3
%
,
5/25/33
...........................
France
620,000
EUR
710,048
144A,
Reg
S,
3
%
,
11/25/34
..........................
France
1,750,000
EUR
1,968,697
144A,
Reg
S,
4.5
%
,
4/25/41
..........................
France
780,000
EUR
960,918
144A,
Reg
S,
3.25
%
,
5/25/45
.........................
France
140,000
EUR
143,672
144A,
Reg
S,
4
%
,
4/25/55
...........................
France
480,000
EUR
522,956
b
Guatemala
Government
Bond
,
Senior
Bond
,
Reg
S,
6.6
%
,
6/13/36
....................
Guatemala
200,000
215,000
Senior
Note
,
144A,
7.05
%
,
10/04/32
....................
Guatemala
200,000
218,345
b
Hungary
Government
Bond
,
Senior
Note
,
Reg
S,
5.25
%
,
6/16/29
Hungary
260,000
264,648
b
Indonesia
Government
Bond
,
Senior
Bond
,
Reg
S,
4.35
%
,
1/08/27
.........................................
Indonesia
260,000
260,608
b
Ireland
Government
Bond
,
Reg
S,
1.1
%
,
5/15/29
...............................
Ireland
260,000
EUR
290,896
Reg
S,
2
%
,
2/18/45
................................
Ireland
110,000
EUR
101,372
b
Italy
Buoni
Poliennali
del
Tesoro
,
Senior
Bond
,
144A,
Reg
S,
1.65
%
,
3/01/32
..............
Italy
1,730,000
EUR
1,852,642
Senior
Bond
,
144A,
Reg
S,
4
%
,
2/01/37
.................
Italy
450,000
EUR
534,520
Senior
Bond
,
144A,
Reg
S,
3.1
%
,
3/01/40
...............
Italy
100,000
EUR
104,906
Senior
Bond
,
144A,
Reg
S,
4.75
%
,
9/01/44
..............
Italy
500,000
EUR
620,042
Senior
Bond
,
144A,
Reg
S,
1.7
%
,
9/01/51
...............
Italy
280,000
EUR
191,256
Senior
Bond
,
Reg
S,
6.5
%
,
11/01/27
...................
Italy
1,520,000
EUR
1,880,756
Senior
Note
,
Reg
S,
2.95
%
,
7/01/30
....................
Italy
1,000,000
EUR
1,166,077
b
Ivory
Coast
Government
Bond
,
Senior
Bond
,
Reg
S,
6.125
%
,
6/15/33
.........................................
Ivory
Coast
340,000
332,922
Japan
Government
Bond
,
0.1
%
,
3/20/27
....................................
Japan
600,000,000
JPY
3,800,671
2.3
%
,
6/20/27
....................................
Japan
205,000,000
JPY
1,326,938
2.2
%
,
3/20/31
....................................
Japan
845,000,000
JPY
5,477,832
0.4
%
,
3/20/36
....................................
Japan
435,000,000
JPY
2,269,416
2.3
%
,
3/20/40
....................................
Japan
310,000,000
JPY
1,832,258
0.3
%
,
6/20/46
....................................
Japan
171,000,000
JPY
601,687
0.8
%
,
3/20/47
....................................
Japan
93,000,000
JPY
361,670
2.2
%
,
3/20/51
....................................
Japan
212,000,000
JPY
1,033,208
2.1
%
,
9/20/54
....................................
Japan
90,000,000
JPY
411,477
0.5
%
,
3/20/60
....................................
Japan
102,000,000
JPY
255,868
b
Kazakhstan
Government
Bond
,
Senior
Bond
,
Reg
S,
4.714
%
,
4/09/35
.........................................
Kazakhstan
260,000
256,427
Malaysia
Government
Bond
,
3.582
%
,
7/15/32
..............
Malaysia
2,280,000
MYR
578,426
Mexican
Bonos
Desarr
Fixed
Rate
,
M
,
7.75
%
,
5/29/31
........
Mexico
10,900,000
e
MXN
599,329
Mexico
Government
Bond
,
Senior
Bond
,
2.659
%
,
5/24/31
.....
Mexico
220,000
195,833
b
Montenegro
Government
Bond
,
Senior
Note
,
144A,
4.875
%
,
4/01/32
.........................................
Montenegro
100,000
EUR
118,146
b
Netherlands
Government
Bond
,
144A,
Reg
S,
0.5
%
,
7/15/26
..........................
Netherlands
300,000
EUR
351,064
144A,
Reg
S,
0.25
%
,
7/15/29
.........................
Netherlands
290,000
EUR
315,019
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
22
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
b
Netherlands
Government
Bond,
(continued)
144A,
Reg
S,
2.75
%
,
7/15/36
.........................
Netherlands
500,000
EUR
$
566,120
144A,
Reg
S,
3.75
%
,
1/15/42
.........................
Netherlands
410,000
EUR
500,306
New
Zealand
Government
Bond
,
3
%
,
4/20/29
..............
New
Zealand
380,000
NZD
219,001
b
Nigeria
Government
Bond
,
Senior
Note
,
144A,
8.375
%
,
3/24/29
Nigeria
240,000
256,762
b
North
Macedonia
Government
Bond
,
Senior
Note
,
144A,
4.75
%
,
1/21/34
.........................................
North
Macedonia
170,000
EUR
194,624
b
Norway
Government
Bond
,
Senior
Bond
,
144A,
Reg
S,
1.75
%
,
2/17/27
.........................................
Norway
1,880,000
NOK
198,740
b
Paraguay
Government
Bond
,
Senior
Bond
,
144A,
3.849
%
,
6/28/33
.........................................
Paraguay
490,000
460,232
Peru
Government
Bond
,
Senior
Bond
,
2.783
%
,
1/23/31
.......
Peru
420,000
387,009
Petroleos
Mexicanos
,
Senior
Note
,
6.7
%
,
2/16/32
...........
Mexico
145,000
145,563
Philippines
Government
Bond
,
Senior
Bond
,
5.5
%
,
2/04/35
....
Philippines
360,000
369,886
Poland
Government
Bond
,
5.75
%
,
4/25/29
................
Poland
1,480,000
PLN
418,880
b
Portugal
Obrigacoes
do
Tesouro
,
Senior
Bond
,
144A,
Reg
S,
0.3
%
,
10/17/31
...................................
Portugal
320,000
EUR
326,645
b
Power
Finance
Corp.
Ltd.
,
Senior
Bond
,
Reg
S,
3.95
%
,
4/23/30
.
India
270,000
261,489
b
Romania
Government
Bond
,
Senior
Bond
,
Reg
S,
5.625
%
,
2/22/36
..................
Romania
320,000
EUR
366,262
Senior
Note
,
144A,
3
%
,
2/27/27
.......................
Romania
330,000
325,170
b
Serbia
Government
Bond
,
Senior
Note
,
144A,
6.25
%
,
5/26/28
..
Serbia
310,000
318,463
South
Africa
Government
Bond
,
Senior
Bond
,
4.85
%
,
9/27/27
.........................
South
Africa
400,000
401,078
Senior
Bond
,
5.875
%
,
4/20/32
........................
South
Africa
200,000
203,008
b
Spain
Bonos
Y
Obligaciones
del
Estado
,
144A,
Reg
S,
5.15
%
,
10/31/28
........................
Spain
800,000
EUR
992,865
Senior
Bond
,
144A,
Reg
S,
3.55
%
,
10/31/33
.............
Spain
1,010,000
EUR
1,209,022
Senior
Bond
,
144A,
Reg
S,
3.3
%
,
4/30/36
...............
Spain
600,000
EUR
692,851
Senior
Bond
,
144A,
Reg
S,
5.15
%
,
10/31/44
.............
Spain
410,000
EUR
556,963
Senior
Bond
,
144A,
Reg
S,
2.9
%
,
10/31/46
..............
Spain
210,000
EUR
208,796
Senior
Bond
,
144A,
Reg
S,
1
%
,
10/31/50
................
Spain
50,000
EUR
31,009
b
Sweden
Government
Bond
,
Reg
S,
1
%
,
11/12/26
...............................
Sweden
6,950,000
SEK
748,465
Reg
S,
3.5
%
,
3/30/39
...............................
Sweden
660,000
SEK
75,652
b
Switzerland
Government
Bond
,
Reg
S,
4
%
,
4/08/28
................................
Switzerland
540,000
CHF
742,576
Reg
S,
1.5
%
,
4/30/42
...............................
Switzerland
290,000
CHF
424,537
Thailand
Government
Bond
,
Senior
Bond
,
2
%
,
12/17/31
...........................
Thailand
15,700,000
THB
489,602
Senior
Bond
,
2.41
%
,
3/17/35
.........................
Thailand
15,500,000
THB
485,956
Turkiye
Government
Bond
,
Senior
Bond
,
5.95
%
,
1/15/31
......
Turkiye
590,000
579,474
b
United
Kingdom
Gilt
,
Reg
S,
6
%
,
12/07/28
...............................
United
Kingdom
420,000
GBP
594,560
Reg
S,
3.5
%
,
7/22/68
...............................
United
Kingdom
610,000
GBP
549,996
f
Uruguay
Government
Bond
,
Senior
Bond
,
PIK,
7.875
%
,
1/15/33
Uruguay
370,000
435,675
b
Uzbekistan
Government
Bond
,
Senior
Note
,
144A,
6.9
%
,
2/28/32
Uzbekistan
240,000
257,744
Total
Foreign
Government
and
Agency
Securities
(Cost
$
74,129,544
)
............
67,733,773
Asset-Backed
Securities
7.1%
Capital
Markets
0.2%
b
,g
Magnetite
XL
Ltd.
,
2024-40A
,
A1
,
144A,
FRN
,
5.123
%
,
(
3-month
SOFR
+
1.45
%
),
7/15/37
.
............................
United
States
512,000
513,557
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
23
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Asset-Backed
Securities
(continued)
Financial
Services
6.9%
b
,g
AIMCO
CLO
17
Ltd.
,
2022-17A
,
A1R
,
144A,
FRN
,
5.014
%
,
(
3-month
SOFR
+
1.35
%
),
7/20/37
.
....................
Jersey
350,000
$
350,925
b
,g
Allegro
CLO
XII
Ltd.
,
2020-1A
,
A1R
,
144A,
FRN
,
5.112
%
,
(
3-month
SOFR
+
1.44
%
),
7/21/37
.
....................
United
States
250,000
250,768
b
,g
Apex
Credit
CLO
Ltd.
,
2024-2A
,
A
,
144A,
FRN
,
5.187
%
,
(
3-month
SOFR
+
1.52
%
),
7/25/37
.
............................
United
States
250,000
250,866
b
,g
Bain
Capital
Credit
CLO
Ltd.
,
2022-2A
,
A1R
,
144A,
FRN
,
4.814
%
,
(
3-month
SOFR
+
1.15
%
),
4/22/35
.
....................
United
States
250,000
250,247
b
,g
Battalion
CLO
18
Ltd.
,
2020-18A
,
ARR
,
144A,
FRN
,
4.853
%
,
(
3-month
SOFR
+
1.18
%
),
10/15/36
.
...................
United
States
260,000
260,302
b
,g
Battalion
CLO
X
Ltd.
,
2016-10A
,
A1R3
,
144A,
FRN
,
4.807
%
,
(
3-month
SOFR
+
1.14
%
),
1/24/35
.
....................
United
States
271,375
271,668
b
Bayview
Opportunity
Master
Fund
VII
Trust
,
2023-1A
,
A
,
144A,
6.93
%
,
10/28/60
.
..................................
United
States
89,042
90,786
b
,g
Birch
Grove
CLO
2
Ltd.
,
2021-2A
,
A1R
,
144A,
FRN
,
5.075
%
,
(
3-month
SOFR
+
1.4
%
),
10/19/37
.
....................
United
States
250,000
250,780
g
Carrington
Mortgage
Loan
Trust
,
2006-NC2
,
A4
,
FRN
,
4.249
%
,
(
1-month
SOFR
+
0.594
%
),
6/25/36
.
...................
United
States
77,247
75,644
b
,g
Cathedral
Lake
VIII
Ltd.
,
2021-8A
,
A1R
,
144A,
FRN
,
4.805
%
,
(
3-month
SOFR
+
1.13
%
),
1/20/35
.
....................
United
States
400,000
400,324
b
,g
CBAM
Ltd.
,
2017-2A
,
AR
,
144A,
FRN
,
5.132
%
,
(
3-month
SOFR
+
1.452
%
),
7/17/34
.
.................................
United
States
175,000
175,326
b
,g
CIFC
Funding
Ltd.
,
2021-4A
,
AR
,
144A,
FRN
,
5.026
%
,
(
3-month
SOFR
+
1.36
%
),
7/23/37
.........................................
United
States
250,000
250,662
2021-7A
,
AR
,
144A,
FRN
,
4.756
%
,
(
3-month
SOFR
+
1.09
%
),
1/23/35
.........................................
United
States
909,000
909,135
b
Compass
Datacenters
Issuer
II
LLC
,
2025-2A
,
A1
,
144A,
4.926
%
,
11/25/50
.
........................................
United
States
580,000
570,138
b
,g
Diameter
Capital
CLO
7
Ltd.
,
2024-7A
,
A1A
,
144A,
FRN
,
5.155
%
,
(
3-month
SOFR
+
1.48
%
),
7/20/37
.
....................
United
States
250,000
250,437
b
,g
Elevation
CLO
Ltd.
,
2021-13A
,
A1R
,
144A,
FRN
,
4.733
%
,
(
3-month
SOFR
+
1.06
%
),
7/15/34
.
....................
United
States
250,000
250,184
b
,g
Elmwood
CLO
27
Ltd.
,
2024-3A
,
A
,
144A,
FRN
,
5.195
%
,
(
3-month
SOFR
+
1.52
%
),
4/18/37
.
....................
United
States
300,000
300,150
b
,g
Elmwood
CLO
33
Ltd.
,
2024-9RA
,
AR
,
144A,
FRN
,
5.052
%
,
(
3-month
SOFR
+
1.38
%
),
10/21/37
.
...................
United
States
250,000
250,677
b
,g
Elmwood
CLO
I
Ltd.
,
2019-1A
,
A1R3
,
144A,
FRN
,
4.795
%
,
(
3-month
SOFR
+
1.12
%
),
4/20/37
.
....................
United
States
225,000
224,553
b
,g
Elmwood
CLO
III
Ltd.
,
2019-3A
,
A1RR
,
144A,
FRN
,
5.055
%
,
(
3-month
SOFR
+
1.38
%
),
7/18/37
.
....................
United
States
250,000
250,661
b
FIGRE
Trust
,
2025-FL1
,
A1
,
144A,
5.265
%
,
7/25/55
..................
United
States
118,352
118,367
2025-FL2
,
A1
,
144A,
5.053
%
,
11/25/55
.................
United
States
135,502
134,802
h
GSAA
Home
Equity
Trust
,
2006-15
,
AF3A
,
FRN
,
5.882
%
,
9/25/36
.
United
States
815,587
265,119
b
,i
Iskandar
Enterprise
LLC
,
2026-1A
,
A21
,
144A,
5.049
%
,
4/17/56
.
United
States
502,000
503,161
b
,g
J.P.
Morgan
Mortgage
Trust
,
2023-HE2
,
A1
,
144A,
FRN
,
5.34
%
,
(
30-day
SOFR
Average
+
1.7
%
),
3/20/54
.
................
United
States
155,678
156,121
b
,g
Madison
Park
Funding
L
Ltd.
,
2021-50A
,
AR
,
144A,
FRN
,
4.645
%
,
(
3-month
SOFR
+
0.97
%
),
4/19/34
.
....................
United
States
500,000
499,993
b
,g
Neuberger
Berman
CLO
XVII
Ltd.
,
2014-17A
,
AR3
,
144A,
FRN
,
5.064
%
,
(
3-month
SOFR
+
1.4
%
),
7/22/38
.
...............
United
States
300,000
300,920
b
,g
Neuberger
Berman
Loan
Advisers
CLO
25
Ltd.
,
2017-25A
,
AR2
,
144A,
FRN
,
5.075
%
,
(
3-month
SOFR
+
1.4
%
),
7/18/38
.
.....
United
States
250,000
250,769
b
,g
Northwoods
Capital
27
Ltd.
,
2021-27A
,
A1R
,
144A,
FRN
,
4.86
%
,
(
3-month
SOFR
+
1.18
%
),
10/17/34
.
...................
United
States
380,000
380,439
g
NovaStar
Mortgage
Funding
Trust
,
2006-5
,
A2C
,
FRN
,
4.109
%
,
(
1-month
SOFR
+
0.454
%
),
11/25/36
.
...................
United
States
930,383
279,447
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
24
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Asset-Backed
Securities
(continued)
Financial
Services
(continued)
b
,g
Oaktree
CLO
Ltd.
,
2019-4A
,
ARR
,
144A,
FRN
,
5.185
%
,
(
3-month
SOFR
+
1.51
%
),
7/20/37
.........................................
United
States
250,000
$
250,869
2021-1A
,
A1R
,
144A,
FRN
,
5.023
%
,
(
3-month
SOFR
+
1.35
%
),
1/15/38
.........................................
United
States
250,000
250,465
b
,g
Octagon
Investment
Partners
49
Ltd.
,
2020-5A
,
ARR
,
144A,
FRN
,
4.793
%
,
(
3-month
SOFR
+
1.12
%
),
4/15/37
.
..............
United
States
1,220,000
1,217,516
b
,g
OHA
Loan
Funding
Ltd.
,
2016-1A
,
A1R2
,
144A,
FRN
,
5.135
%
,
(
3-month
SOFR
+
1.46
%
),
7/20/37
.
....................
United
States
427,000
428,303
b
PK
ALIFT
Loan
Funding
7
LP
,
2025-2
,
A
,
144A,
4.75
%
,
3/15/43
.
United
States
233,210
231,021
b
PRET
LLC
,
2026-NPL3
,
A1
,
144A,
4.968
%
,
2/25/56
.
.........
United
States
833,600
827,829
b
,g
PRMI
Securitization
Trust
,
2024-CMG1
,
A1
,
144A,
FRN
,
5.104
%
,
(
30-day
SOFR
Average
+
1.45
%
),
7/25/54
.
...............
United
States
196,308
196,331
g
Renaissance
Home
Equity
Loan
Trust
,
2003-4
,
A1
,
FRN
,
4.809
%
,
(
1-month
SOFR
+
1.154
%
),
3/25/34
.
...................
United
States
108,383
98,330
b
,g
RR
29
Ltd.
,
2024-29RA
,
A1R
,
144A,
FRN
,
5.063
%
,
(
3-month
SOFR
+
1.39
%
),
7/15/39
.
............................
United
States
250,000
250,658
b
Stack
Infrastructure
Issuer
LLC
,
2026-1A
,
A2
,
144A,
5
%
,
3/27/56
.
United
States
477,000
461,384
b
,g
Symphony
CLO
XXIII
Ltd.
,
2020-23A
,
AR2
,
144A,
FRN
,
4.573
%
,
(
3-month
SOFR
+
0.9
%
),
1/15/34
.
.....................
United
States
159,354
159,357
b
,g
Towd
Point
Mortgage
Trust
,
2025-HE1
,
A1A
,
144A,
FRN
,
4.995
%
,
(
30-day
SOFR
Average
+
1.35
%
),
7/25/65
.
...............
United
States
87,009
87,267
b
,g
Trinitas
CLO
XVI
Ltd.
,
2021-16A
,
A1R
,
144A,
FRN
,
4.805
%
,
(
3-month
SOFR
+
1.13
%
),
7/20/34
.
....................
United
States
540,000
540,573
b
VCAT
LLC
,
2026-NPL1
,
A1
,
144A,
5.101
%
,
1/25/56
.
.........
United
States
121,666
121,190
b
,g
Venture
XIX
CLO
Ltd.
,
2014-19A
,
ARR
,
144A,
FRN
,
5.195
%
,
(
3-month
SOFR
+
1.522
%
),
1/15/32
.
...................
United
States
42,095
42,096
g
Washington
Mutual
Asset-Backed
Certificates
WMABS
Trust
,
2006-HE2
,
A3
,
FRN
,
4.069
%
,
(
1-month
SOFR
+
0.414
%
),
5/25/36
.
.........................................
United
States
419,628
331,965
b
,g
Wise
CLO
Ltd.
,
2024-2A
,
A
,
144A,
FRN
,
5.133
%
,
(
3-month
SOFR
+
1.46
%
),
7/15/37
.
.................................
United
States
400,000
401,210
14,669,735
a
a
a
a
a
a
Total
Asset-Backed
Securities
(Cost
$
15,568,590
)
.............................
15,183,292
Commercial
Mortgage-Backed
Securities
4.8%
Financial
Services
4.8%
b
,g
AREIT
Trust
,
2022-CRE6
,
A
,
144A,
FRN
,
4.89
%
,
(
30-day
SOFR
Average
+
1.25
%
),
1/20/37
...........................
United
States
140,547
140,760
h
,j
BANK
,
2019-BN20
,
XA
,
IO,
FRN
,
0.922
%
,
9/15/62
..............
United
States
8,718,692
201,078
2020-BN30
,
XA
,
IO,
FRN
,
1.351
%
,
12/15/53
.............
United
States
6,772,420
305,418
Barclays
Commercial
Mortgage
Trust
,
2019-C3
,
B
,
4.096
%
,
5/15/52
.........................................
United
States
246,000
229,262
h
,j
BBCMS
Mortgage
Trust
,
2020-C8
,
XA
,
IO,
FRN
,
1.909
%
,
10/15/53
........................................
United
States
4,420,599
241,277
Benchmark
Mortgage
Trust
,
2026-V21
,
AS
,
5.506
%
,
3/15/59
.......................
United
States
220,000
224,071
h,j
2026-V21
,
XA
,
IO,
FRN
,
1.648
%
,
3/15/59
................
United
States
1,965,907
120,981
b
BX
Trust
,
h
2025-ARIA
,
C
,
144A,
FRN
,
5.701
%
,
12/13/42
.............
United
States
436,000
438,003
g
2025-VOLT
,
A
,
144A,
FRN
,
5.355
%
,
(
1-month
SOFR
+
1.7
%
),
12/15/44
........................................
United
States
120,000
120,134
h
CD
Mortgage
Trust
,
2017-CD4
,
B
,
FRN
,
3.947
%
,
5/10/50
.....
United
States
323,000
296,522
h
CFCRE
Commercial
Mortgage
Trust
,
b
2011-C2
,
E
,
144A,
FRN
,
5.08
%
,
12/15/47
................
United
States
230,000
217,647
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
25
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Commercial
Mortgage-Backed
Securities
(continued)
Financial
Services
(continued)
h
CFCRE
Commercial
Mortgage
Trust,
(continued)
2017-C8
,
B
,
FRN
,
4.199
%
,
6/15/50
....................
United
States
210,000
$
204,262
h
Citigroup
Commercial
Mortgage
Trust
,
2016-P6
,
A5
,
FRN
,
3.72
%
,
12/10/49
........................................
United
States
238,000
235,672
h
COMM
Mortgage
Trust
,
b
2013-CR13
,
D
,
144A,
FRN
,
5.003
%
,
11/10/46
............
United
States
166,612
94,346
2014-CR14
,
C
,
FRN
,
3.246
%
,
2/10/47
..................
United
States
222,000
217,691
2014-CR17
,
C
,
FRN
,
4.942
%
,
5/10/47
..................
United
States
459,000
434,084
2015-LC19
,
C
,
FRN
,
4.567
%
,
2/10/48
..................
United
States
195,367
190,613
b
,h
,j
Credit
Suisse
Commercial
Mortgage
Trust
,
2006-C4
,
AX
,
IO,
144A,
FRN
,
1.411
%
,
9/15/39
............
United
States
147
—
2007-C2
,
AX
,
IO,
144A,
FRN
,
0.029
%
,
1/15/49
............
United
States
614,587
159
CSAIL
Commercial
Mortgage
Trust
,
h
2015-C1
,
C
,
FRN
,
3.888
%
,
4/15/50
....................
United
States
371,000
348,416
2016-C6
,
AS
,
3.346
%
,
1/15/49
........................
United
States
99,170
98,877
h
CSMC
Trust
,
2016-NXSR
,
AS
,
FRN
,
4.049
%
,
12/15/49
.......
United
States
267,000
262,370
b
,h
DBUBS
Mortgage
Trust
,
2011-LC3A
,
D
,
144A,
FRN
,
5.535
%
,
8/10/44
.........................................
United
States
548,119
536,113
b
,h
GS
Mortgage
Securities
Corp.
Trust
,
2017-375H
,
A
,
144A,
FRN
,
3.591
%
,
9/10/37
...................................
United
States
350,000
341,036
b
,h
J.P.
Morgan
Chase
Commercial
Mortgage
Securities
Trust
,
2012-
LC9
,
D
,
144A,
FRN
,
3.691
%
,
12/15/47
..................
United
States
441,000
430,794
h
JPMBB
Commercial
Mortgage
Securities
Trust
,
j
2014-C22
,
XA
,
IO,
FRN
,
0.554
%
,
9/15/47
................
United
States
420,677
6
2014-C23
,
B
,
FRN
,
4.673
%
,
9/15/47
...................
United
States
168,076
166,122
h
,j
JPMCC
Commercial
Mortgage
Securities
Trust
,
2019-COR5
,
XA
,
IO,
FRN
,
1.577
%
,
6/13/52
...........................
United
States
7,057,878
228,295
b
,h
MAD
Commercial
Mortgage
Trust
,
2025-11MD
,
C
,
144A,
FRN
,
5.818
%
,
10/15/42
............
United
States
317,000
319,712
2025-11MD
,
D
,
144A,
FRN
,
6.571
%
,
10/15/42
............
United
States
306,000
309,924
h
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust
,
2013-C10
,
B
,
FRN
,
4.082
%
,
7/15/46
...................
United
States
481,236
457,899
b
2013-C9
,
D
,
144A,
FRN
,
3.917
%
,
5/15/46
...............
United
States
274,000
249,926
2015-C22
,
C
,
FRN
,
4.104
%
,
4/15/48
...................
United
States
659,000
560,153
b
One
Bryant
Park
Trust
,
2019-OBP
,
A
,
144A,
2.516
%
,
9/15/54
..
United
States
214,000
198,221
b
,g
SHRN
Trust
,
2025-MF18
,
A
,
144A,
FRN
,
4.855
%
,
(
1-month
SOFR
+
1.2
%
),
10/15/40
.................................
United
States
320,000
319,992
h
,j
UBS
Commercial
Mortgage
Trust
,
2017-C7
,
XA
,
IO,
FRN
,
1.115
%
,
12/15/50
..................................
United
States
5,129,869
64,602
b
,h
VEGAS
,
2024-GCS
,
D
,
144A,
FRN
,
6.424
%
,
7/10/36
.........
United
States
217,000
215,816
Wells
Fargo
Commercial
Mortgage
Trust
,
2016-BNK1
,
AS
,
2.814
%
,
8/15/49
......................
United
States
707,000
685,541
h,j
2016-LC25
,
XA
,
IO,
FRN
,
0.921
%
,
12/15/59
..............
United
States
3,406,138
5,954
2017-RC1
,
AS
,
3.844
%
,
1/15/60
.......................
United
States
182,000
180,249
2017-RC1
,
C
,
4.591
%
,
1/15/60
........................
United
States
199,000
193,637
h,j
2019-C52
,
XA
,
IO,
FRN
,
1.706
%
,
8/15/52
................
United
States
2,958,348
116,637
h
2020-C57
,
C
,
FRN
,
4.157
%
,
8/15/53
...................
United
States
167,000
152,572
h
,j
WFRBS
Commercial
Mortgage
Trust
,
2013-C14
,
XA
,
IO,
FRN
,
0.456
%
,
6/15/46
...................................
United
States
114,877
1
10,354,845
a
a
a
a
a
a
Total
Commercial
Mortgage-Backed
Securities
(Cost
$
10,622,859
)
..............
10,354,845
Mortgage-Backed
Securities
18.4%
Federal
Home
Loan
Mortgage
Corp.
(FHLMC)
Fixed
Rate
0.9%
FHLMC
Pool,
30
Year
,
3.5
%,
4/01/52
.....................
United
States
835,343
764,300
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
26
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Mortgage-Backed
Securities
(continued)
Federal
Home
Loan
Mortgage
Corp.
(FHLMC)
Fixed
Rate
(continued)
FHLMC
Pool,
30
Year
,
6
%,
9/01/53
......................
United
States
1,139,199
$
1,174,029
1,938,329
Federal
National
Mortgage
Association
(FNMA)
Fixed
Rate
14.4%
FNMA,
20
Year
,
1.5
%,
11/01/41
.........................
United
States
480,072
401,510
FNMA,
30
Year
,
3.5
%,
11/01/51
.........................
United
States
760,674
694,741
FNMA,
30
Year
,
6
%,
9/01/54
...........................
United
States
1,039,254
1,062,140
k
Uniform
Mortgage-Backed
Securities
,
2
%
,
TBA,
5/25/56
......
United
States
5,000,000
4,001,811
k
Uniform
Mortgage-Backed
Securities
,
2.5
%
,
TBA,
5/25/56
.....
United
States
5,000,000
4,187,577
k
Uniform
Mortgage-Backed
Securities
,
3
%
,
TBA,
5/25/56
......
United
States
2,000,000
1,751,210
k
Uniform
Mortgage-Backed
Securities
,
3.5
%
,
TBA,
5/25/56
.....
United
States
1,000,000
910,371
k
Uniform
Mortgage-Backed
Securities
,
4.5
%
,
TBA,
5/25/56
.....
United
States
4,000,000
3,848,160
k
Uniform
Mortgage-Backed
Securities
,
5
%
,
TBA,
5/25/56
......
United
States
3,000,000
2,955,974
k
Uniform
Mortgage-Backed
Securities
,
5.5
%
,
TBA,
5/25/56
.....
United
States
4,000,000
4,020,522
k
Uniform
Mortgage-Backed
Securities
,
6
%
,
TBA,
5/25/56
......
United
States
2,000,000
2,041,978
k
Uniform
Mortgage-Backed
Securities
,
6.5
%
,
TBA,
5/25/56
.....
United
States
5,000,000
5,188,128
31,064,122
Government
National
Mortgage
Association
(GNMA)
Fixed
Rate
3.1%
k
GNMA
II,
Single-family,
30
Year
,
2.5
%,
5/15/56
.............
United
States
1,000,000
856,734
GNMA
II,
Single-family,
30
Year
,
4
%,
2/20/48
...............
United
States
1,531,320
1,458,540
k
GNMA
II,
Single-family,
30
Year
,
4
%,
5/15/56
...............
United
States
1,000,000
933,223
k
GNMA
II,
Single-family,
30
Year
,
5.5
%,
5/15/56
.............
United
States
2,000,000
2,014,367
GNMA
II,
Single-family,
30
Year
,
6
%,
11/20/53
..............
United
States
1,414,868
1,474,028
6,736,892
Total
Mortgage-Backed
Securities
(Cost
$
39,635,742
)
..........................
39,739,343
Residential
Mortgage-Backed
Securities
7.0%
Financial
Services
7.0%
b
A&D
Mortgage
Trust
,
2023-NQM5
,
A1
,
144A,
7.049
%
,
11/25/68
.
United
States
522,991
527,576
g
Alternative
Loan
Trust
,
2006-OA10
,
1A1
,
FRN
,
4.469
%
,
(
12-month
average
of
1-year
CMT
+
0.96
%
),
8/25/46
.............................
United
States
81,905
76,255
2006-OA10
,
4A1
,
FRN
,
4.149
%
,
(
1-month
SOFR
+
0.494
%
),
8/25/46
.........................................
United
States
215,242
192,158
2006-OA19
,
A1
,
FRN
,
3.955
%
,
(
1-month
SOFR
+
0.294
%
),
2/20/47
.........................................
United
States
116,865
95,480
2006-OA7
,
1A2
,
FRN
,
4.449
%
,
(
12-month
average
of
1-year
CMT
+
0.94
%
),
6/25/46
.............................
United
States
153,602
152,922
b
Angel
Oak
Mortgage
Trust
,
2024-9
,
A1
,
144A,
5.138
%
,
9/25/69
.
United
States
221,736
221,847
b
,h
Arroyo
Mortgage
Trust
,
2019-3
,
A3
,
144A,
FRN
,
3.416
%
,
10/25/48
........................................
United
States
41,786
40,268
g
BankUnited
Trust
,
2005-1
,
1A1
,
FRN
,
4.369
%
,
(
1-month
SOFR
+
0.714
%
),
9/25/45
..................................
United
States
46,890
44,944
b
BRAVO
Residential
Funding
Trust
,
2024-NQM2
,
A1
,
144A,
6.285
%
,
2/25/64
...................................
United
States
113,344
114,158
b
,g
Chase
Home
Lending
Mortgage
Trust
,
2025-10
,
A11
,
144A,
FRN
,
4.945
%
,
(
30-day
SOFR
Average
+
1.3
%
),
7/25/56
....................................
United
States
84,279
84,513
2025-7
,
A11
,
144A,
FRN
,
5.045
%
,
(
30-day
SOFR
Average
+
1.4
%
),
5/25/56
....................................
United
States
83,274
83,594
b
,g
Chevy
Chase
Funding
LLC
,
2006-4A
,
A2
,
144A,
FRN
,
3.949
%
,
(
1-month
SOFR
+
0.294
%
),
11/25/47
...................
United
States
134,272
121,008
b
COLT
Mortgage
Loan
Trust
,
2023-3
,
A1
,
144A,
7.18
%
,
9/25/68
.
United
States
500,800
503,885
b
Cross
Mortgage
Trust
,
2024-H1
,
A1
,
144A,
6.085
%
,
12/25/68
..................
United
States
191,703
192,764
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
27
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Residential
Mortgage-Backed
Securities
(continued)
Financial
Services
(continued)
b
Cross
Mortgage
Trust,
(continued)
2024-H3
,
A1
,
144A,
6.272
%
,
6/25/69
...................
United
States
187,313
$
188,971
2024-H4
,
A1
,
144A,
6.147
%
,
7/25/69
...................
United
States
444,336
448,511
b
,g
FHLMC
STACR
REMIC
Trust
,
2021-DNA5
,
M2
,
144A,
FRN
,
5.295
%
,
(
30-day
SOFR
Average
+
1.65
%
),
1/25/34
.................................
United
States
34,430
34,520
2021-DNA6
,
M2
,
144A,
FRN
,
5.145
%
,
(
30-day
SOFR
Average
+
1.5
%
),
10/25/41
.................................
United
States
273,438
274,079
2021-DNA7
,
M2
,
144A,
FRN
,
5.445
%
,
(
30-day
SOFR
Average
+
1.8
%
),
11/25/41
..................................
United
States
889,000
893,413
2022-DNA2
,
M1A
,
144A,
FRN
,
4.945
%
,
(
30-day
SOFR
Average
+
1.3
%
),
2/25/42
..................................
United
States
31,951
31,964
2022-DNA3
,
M1B
,
144A,
FRN
,
6.545
%
,
(
30-day
SOFR
Average
+
2.9
%
),
4/25/42
..................................
United
States
30,000
30,527
2022-DNA5
,
M1A
,
144A,
FRN
,
6.595
%
,
(
30-day
SOFR
Average
+
2.95
%
),
6/25/42
.................................
United
States
181,809
184,047
2022-DNA6
,
M1A
,
144A,
FRN
,
5.795
%
,
(
30-day
SOFR
Average
+
2.15
%
),
9/25/42
.................................
United
States
4,428
4,439
2022-DNA6
,
M1B
,
144A,
FRN
,
7.345
%
,
(
30-day
SOFR
Average
+
3.7
%
),
9/25/42
..................................
United
States
24,000
24,818
2022-HQA1
,
M1A
,
144A,
FRN
,
5.745
%
,
(
30-day
SOFR
Average
+
2.1
%
),
3/25/42
..................................
United
States
2,207
2,208
2023-DNA1
,
M1A
,
144A,
FRN
,
5.746
%
,
(
30-day
SOFR
Average
+
2.1
%
),
3/25/43
..................................
United
States
121,961
123,408
2023-HQA2
,
M1A
,
144A,
FRN
,
5.645
%
,
(
30-day
SOFR
Average
+
2
%
),
6/25/43
....................................
United
States
18,813
18,832
2023-HQA3
,
A1
,
144A,
FRN
,
5.495
%
,
(
30-day
SOFR
Average
+
1.85
%
),
11/25/43
..................................
United
States
123,944
124,713
2023-HQA3
,
M1
,
144A,
FRN
,
5.495
%
,
(
30-day
SOFR
Average
+
1.85
%
),
11/25/43
.................................
United
States
45,145
45,406
2024-DNA1
,
A1
,
144A,
FRN
,
4.995
%
,
(
30-day
SOFR
Average
+
1.35
%
),
2/25/44
...................................
United
States
133,701
134,333
2024-DNA2
,
A1
,
144A,
FRN
,
4.895
%
,
(
30-day
SOFR
Average
+
1.25
%
),
5/25/44
...................................
United
States
103,395
103,859
2025-DNA1
,
A1
,
144A,
FRN
,
4.595
%
,
(
30-day
SOFR
Average
+
0.95
%
),
1/25/45
...................................
United
States
38,710
38,752
2025-DNA3
,
M1
,
144A,
FRN
,
4.745
%
,
(
30-day
SOFR
Average
+
1.1
%
),
9/25/45
..................................
United
States
225,493
225,604
g
FNMA
Connecticut
Avenue
Securities
Trust
,
2018-C02
,
2M2
,
FRN
,
5.96
%
,
(
30-day
SOFR
Average
+
2.314
%
),
8/25/30
..................................
United
States
10,215
10,350
b
2021-R03
,
1M2
,
144A,
FRN
,
5.295
%
,
(
30-day
SOFR
Average
+
1.65
%
),
12/25/41
..................................
United
States
289,463
290,633
b
2022-R01
,
1M1
,
144A,
FRN
,
4.645
%
,
(
30-day
SOFR
Average
+
1
%
),
12/25/41
....................................
United
States
8,053
8,051
b
2022-R02
,
2M2
,
144A,
FRN
,
6.645
%
,
(
30-day
SOFR
Average
+
3
%
),
1/25/42
.....................................
United
States
406,072
411,240
b
2022-R03
,
1M2
,
144A,
FRN
,
7.145
%
,
(
30-day
SOFR
Average
+
3.5
%
),
3/25/42
....................................
United
States
127,000
129,779
b
2022-R04
,
1M2
,
144A,
FRN
,
6.745
%
,
(
30-day
SOFR
Average
+
3.1
%
),
3/25/42
....................................
United
States
120,000
122,070
b
2022-R09
,
2M1
,
144A,
FRN
,
6.145
%
,
(
30-day
SOFR
Average
+
2.5
%
),
9/25/42
....................................
United
States
39,068
39,377
b
2023-R06
,
1M1
,
144A,
FRN
,
5.345
%
,
(
30-day
SOFR
Average
+
1.7
%
),
7/25/43
....................................
United
States
25,295
25,355
b
2023-R07
,
2M1
,
144A,
FRN
,
5.595
%
,
(
30-day
SOFR
Average
+
1.95
%
),
9/25/43
...................................
United
States
17,396
17,431
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
28
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Residential
Mortgage-Backed
Securities
(continued)
Financial
Services
(continued)
g
FNMA
Connecticut
Avenue
Securities
Trust,
(continued)
b
2024-R02
,
1M1
,
144A,
FRN
,
4.745
%
,
(
30-day
SOFR
Average
+
1.1
%
),
2/25/44
....................................
United
States
3,261
$
3,261
b
2024-R03
,
2M1
,
144A,
FRN
,
4.795
%
,
(
30-day
SOFR
Average
+
1.15
%
),
3/25/44
...................................
United
States
17,461
17,464
b
2024-R04
,
1M1
,
144A,
FRN
,
4.745
%
,
(
30-day
SOFR
Average
+
1.1
%
),
5/25/44
....................................
United
States
12,170
12,171
b
2024-R06
,
1A1
,
144A,
FRN
,
4.795
%
,
(
30-day
SOFR
Average
+
1.15
%
),
9/25/44
...................................
United
States
241,258
242,103
b
2025-R01
,
1A1
,
144A,
FRN
,
4.595
%
,
(
30-day
SOFR
Average
+
0.95
%
),
1/25/45
...................................
United
States
72,382
72,456
b
2025-R01
,
1M1
,
144A,
FRN
,
4.745
%
,
(
30-day
SOFR
Average
+
1.1
%
),
1/25/45
....................................
United
States
44,815
44,833
b
2025-R02
,
1A1
,
144A,
FRN
,
4.645
%
,
(
30-day
SOFR
Average
+
1
%
),
2/25/45
.....................................
United
States
122,928
123,170
b
2025-R02
,
1M1
,
144A,
FRN
,
4.795
%
,
(
30-day
SOFR
Average
+
1.15
%
),
2/25/45
...................................
United
States
168,665
168,771
b
2025-R04
,
1A1
,
144A,
FRN
,
4.645
%
,
(
30-day
SOFR
Average
+
1
%
),
5/25/45
.....................................
United
States
98,951
99,119
b
2025-R04
,
1M1
,
144A,
FRN
,
4.845
%
,
(
30-day
SOFR
Average
+
1.2
%
),
5/25/45
....................................
United
States
203,341
203,559
b
2025-R06
,
1A1
,
144A,
FRN
,
4.545
%
,
(
30-day
SOFR
Average
+
0.9
%
),
9/25/45
....................................
United
States
234,793
235,051
b
2026-R01
,
2A1
,
144A,
FRN
,
4.495
%
,
(
30-day
SOFR
Average
+
0.85
%
),
1/25/46
...................................
United
States
420,139
420,274
b
2026-R01
,
2M1
,
144A,
FRN
,
4.645
%
,
(
30-day
SOFR
Average
+
1
%
),
1/25/46
.....................................
United
States
451,856
452,140
b
J.P.
Morgan
Mortgage
Trust
,
2024-VIS2
,
A1
,
144A,
5.853
%
,
11/25/64
.................
United
States
486,086
489,417
g
2025-2
,
A11
,
144A,
FRN
,
4.895
%
,
(
30-day
SOFR
Average
+
1.25
%
),
7/25/55
...................................
United
States
418,533
419,967
b
Legacy
Mortgage
Asset
Trust
,
2021-GS3
,
A1
,
144A,
5.75
%
,
7/25/61
.........................................
United
States
188,539
188,788
b
MFA
Trust
,
2023-INV2
,
A1
,
144A,
6.775
%
,
10/25/58
.................
United
States
722,353
726,105
2025-NQM3
,
A1
,
144A,
5.261
%
,
8/25/70
................
United
States
133,010
133,325
b
,h
Morgan
Stanley
Resecuritization
Trust
,
2015-R4
,
CB1
,
144A,
FRN
,
4.037
%
,
8/26/47
..............................
United
States
22,387
22,413
b
Morgan
Stanley
Residential
Mortgage
Loan
Trust
,
g
2024-3
,
AF
,
144A,
FRN
,
4.995
%
,
(
30-day
SOFR
Average
+
1.35
%
),
7/25/54
...................................
United
States
88,666
88,883
2024-NQM2
,
A1
,
144A,
6.386
%
,
5/25/69
................
United
States
203,682
205,738
b
,g
New
Residential
Mortgage
Loan
Trust
,
2018-4A
,
A1M
,
144A,
FRN
,
4.669
%
,
(
1-month
SOFR
+
1.014
%
),
1/25/48
.........
United
States
23,524
23,295
b
OBX
Trust
,
2023-NQM7
,
A1
,
144A,
6.844
%
,
4/25/63
................
United
States
227,618
228,762
g
2025-J2
,
AF
,
144A,
FRN
,
4.945
%
,
(
30-day
SOFR
Average
+
1.3
%
),
9/25/55
....................................
United
States
106,155
106,525
b
,h
Onity
Loan
Investment
Trust
,
2025-HB1
,
A
,
144A,
FRN
,
3
%
,
6/25/38
.........................................
United
States
43,201
42,425
b
PRET
LLC
,
2026-NPL1
,
A1
,
144A,
5.18
%
,
1/25/56
..........
United
States
144,543
143,558
b
PRPM
LLC
,
2026-1
,
A1
,
144A,
5.185
%
,
2/25/31
............
United
States
312,657
309,953
b
,g
Station
Place
Securitization
Trust
,
2025-1
,
A
,
144A,
FRN
,
4.552
%
,
(
1-month
SOFR
+
0.9
%
),
7/23/26
.........................................
United
States
752,000
752,472
2025-3
,
A
,
144A,
FRN
,
4.552
%
,
(
1-month
SOFR
+
0.9
%
),
9/23/26
.........................................
United
States
760,000
763,338
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
29
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Residential
Mortgage-Backed
Securities
(continued)
Financial
Services
(continued)
b,g
Station
Place
Securitization
Trust,
(continued)
2025-7
,
A
,
144A,
FRN
,
4.552
%
,
(
1-month
SOFR
+
0.9
%
),
11/24/26
........................................
United
States
750,000
$
754,215
b
,g
Structured
Agency
Credit
Risk
,
2026-DNA1
,
M1
,
144A,
FRN
,
4.645
%
,
(
30-day
SOFR
Average
+
1
%
),
2/25/46
...........
United
States
225,404
225,328
g
Structured
Asset
Mortgage
Investments
II
Trust
,
2007-AR7
,
1A1
,
FRN
,
5.469
%
,
(
1-month
SOFR
+
1.814
%
),
5/25/47
.........
United
States
266,353
221,314
b
Verus
Securitization
Trust
,
2024-1
,
A1
,
144A,
5.712
%
,
1/25/69
.
United
States
360,639
361,967
b
,h
Vista
Point
Securitization
Trust
,
2020-2
,
A2
,
144A,
FRN
,
1.986
%
,
4/25/65
.........................................
United
States
20,112
19,706
g
WaMu
Mortgage
Pass-Through
Certificates
Trust
,
2005-AR1
,
A1B
,
FRN
,
4.549
%
,
(
1-month
SOFR
+
0.894
%
),
1/25/45
.........................................
United
States
75,906
73,586
2005-AR13
,
A1C3
,
FRN
,
4.749
%
,
(
1-month
SOFR
+
1.094
%
),
10/25/45
........................................
United
States
67,186
65,086
2005-AR2
,
2A1B
,
FRN
,
4.509
%
,
(
1-month
SOFR
+
0.854
%
),
1/25/45
.........................................
United
States
65,108
65,409
2005-AR9
,
A1C3
,
FRN
,
4.729
%
,
(
1-month
SOFR
+
1.074
%
),
7/25/45
.........................................
United
States
138,217
136,628
15,100,637
a
a
a
a
a
a
Total
Residential
Mortgage-Backed
Securities
(Cost
$
14,953,886
)
...............
15,100,637
Agency
Commercial
Mortgage-Backed
Securities
6.1%
Financial
Services
6.1%
FHLMC
,
g
406
,
F30
,
FRN
,
4.795
%
,
(
30-day
SOFR
Average
+
1.15
%
),
10/25/53
........................................
United
States
175,688
177,298
j
5077
,
GI
,
IO,
3.5
%
,
2/25/51
..........................
United
States
2,723,881
565,131
j
5116
,
BI
,
IO,
4
%
,
1/25/50
............................
United
States
3,716,551
745,735
g
5396
,
FG
,
FRN
,
4.645
%
,
(
30-day
SOFR
Average
+
1
%
),
4/25/54
.........................................
United
States
444,126
446,860
g
5466
,
FG
,
FRN
,
4.595
%
,
(
30-day
SOFR
Average
+
0.95
%
),
10/25/54
........................................
United
States
854,087
858,258
h
,j
FHLMC,
Multi-family
Structured
Pass-Through
Certificates
,
K098
,
X1
,
IO,
FRN
,
1.258
%
,
8/25/29
...................
United
States
2,705,383
89,108
K113
,
XAM
,
IO,
FRN
,
1.684
%
,
6/25/30
..................
United
States
2,243,000
130,936
FNMA
,
g,j
2019-42
,
SA
,
IO,
FRN
,
2.29
%
,
(
-
1
x
30-day
SOFR
Average
+
5.936
%
),
8/25/49
..................................
United
States
2,154,627
221,175
j
2021-14
,
CI
,
IO,
4.5
%
,
11/25/49
.......................
United
States
4,106,762
917,664
j
2022-13
,
CI
,
IO,
3
%
,
12/25/51
........................
United
States
3,792,151
564,219
j
2023-49
,
IA
,
IO,
3
%
,
8/25/46
.........................
United
States
329,936
42,160
g
2024-103
,
FB
,
FRN
,
4.595
%
,
(
30-day
SOFR
Average
+
0.95
%
),
1/25/55
.........................................
United
States
676,560
681,315
g
2024-105
,
FC
,
FRN
,
4.645
%
,
(
30-day
SOFR
Average
+
1
%
),
1/25/55
.........................................
United
States
729,528
736,257
g
2024-77
,
DF
,
FRN
,
4.845
%
,
(
30-day
SOFR
Average
+
1.2
%
),
10/25/53
........................................
United
States
185,465
187,773
g
2024-82
,
FE
,
FRN
,
4.595
%
,
(
30-day
SOFR
Average
+
0.95
%
),
11/25/54
........................................
United
States
229,043
230,165
g
2024-98
,
FA
,
FRN
,
4.795
%
,
(
30-day
SOFR
Average
+
1.15
%
),
12/25/53
........................................
United
States
363,668
367,242
g
2025-25
,
FB
,
FRN
,
4.595
%
,
(
30-day
SOFR
Average
+
0.95
%
),
4/25/55
.........................................
United
States
374,704
376,676
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
30
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Agency
Commercial
Mortgage-Backed
Securities
(continued)
Financial
Services
(continued)
b
,g
FNMA
Multi-family
Connecticut
Avenue
Securities
Trust
,
2019-01
,
M10
,
144A,
FRN
,
7.01
%
,
(
30-day
SOFR
Average
+
3.364
%
),
10/25/49
........................................
United
States
371,811
$
377,698
GNMA
,
g,j
2010-171
,
SB
,
IO,
FRN
,
2.671
%
,
(
-
1
x
1-month
SOFR
+
6.336
%
),
12/16/40
.................................
United
States
267,368
29,317
j
2014-102
,
IG
,
IO,
3.5
%
,
3/16/41
.......................
United
States
23,557
251
j
2014-76
,
IO,
5
%
,
5/20/44
............................
United
States
159,449
32,248
h,j
2014-H12
,
BI
,
IO,
FRN
,
1.591
%
,
5/20/64
................
United
States
599,443
22,516
h,j
2014-H21
,
AI
,
IO,
FRN
,
2.115
%
,
10/20/64
...............
United
States
379,284
18,605
h,j
2015-H25
,
AI
,
IO,
FRN
,
1.681
%
,
9/20/65
................
United
States
326,187
7,013
h,j
2015-H26
,
DI
,
IO,
FRN
,
2.37
%
,
10/20/65
................
United
States
297,581
16,037
h,j
2015-H26
,
EI
,
IO,
FRN
,
1.707
%
,
10/20/65
...............
United
States
407,172
15,025
j
2016-75
,
LI
,
IO,
6
%
,
1/20/40
.........................
United
States
261,205
35,811
h,j
2016-H23
,
NI
,
IO,
FRN
,
2.748
%
,
10/20/66
...............
United
States
606,867
29,977
h,j
2017-H02
,
BI
,
IO,
FRN
,
2.312
%
,
1/20/67
................
United
States
545,925
22,840
h,j
2017-H04
,
BI
,
IO,
FRN
,
2.418
%
,
2/20/67
................
United
States
629,774
27,353
h,j
2017-H19
,
MI
,
IO,
FRN
,
2.05
%
,
4/20/67
.................
United
States
442,711
15,975
h,j
2020-190
,
IO,
FRN
,
1.051
%
,
11/16/62
..................
United
States
3,497,933
262,508
j
2021-117
,
MI
,
IO,
3.5
%
,
5/20/42
.......................
United
States
2,633,507
403,057
h,j
2021-17
,
IO,
FRN
,
1.053
%
,
1/16/61
....................
United
States
2,209,509
170,344
j
2021-182
,
TI
,
IO,
3.5
%
,
10/20/51
......................
United
States
2,496,023
465,514
h,j
2021-189
,
IO,
FRN
,
0.882
%
,
6/16/61
...................
United
States
4,690,338
286,639
j
2021-214
,
AI
,
IO,
4
%
,
12/20/51
.......................
United
States
2,818,518
558,361
j
2021-97
,
NI
,
IO,
2.5
%
,
8/20/49
........................
United
States
6,817,599
742,201
j
2022-160
,
IB
,
IO,
4.5
%
,
2/20/50
.......................
United
States
4,684,611
967,892
j
2024-186
,
IO,
3
%
,
9/20/51
...........................
United
States
3,089,928
454,580
j
2024-4
,
GI
,
IO,
5
%
,
2/20/53
..........................
United
States
1,680,321
413,866
g
2025-169
,
FC
,
FRN
,
4.64
%
,
(
30-day
SOFR
Average
+
1
%
),
10/20/55
........................................
United
States
327,022
329,203
13,042,803
a
a
a
a
a
a
Total
Agency
Commercial
Mortgage-Backed
Securities
(Cost
$
12,646,105
)
.......
13,042,803
Total
Long
Term
Investments
(Cost
$
245,427,581
)
.............................
239,031,254
a
Short
Term
Investments
3.1%
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
a
U.S.
Government
and
Agency
Securities
0.7%
l,m
U.S.
Treasury
Bills
,
3
.56
%
,
7/16/26
......................
United
States
1,600,000
1,587,904
Total
U.S.
Government
and
Agency
Securities
(Cost
$
1,588,115
)
................
1,587,904
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
31
Short
Term
Investments
(continued)
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Management
Investment
Companies
2.4%
a,n
Putnam
Short
Term
Investment
Fund
,
Class
P
,
3.843
%
.......
United
States
5,103,022
$
5,103,022
Total
Management
Investment
Companies
(Cost
$
5,103,022
)
...................
5,103,022
Total
Short
Term
Investments
(Cost
$
6,691,137
)
...............................
6,690,926
a
Total
Investments
(Cost
$
252,118,718
)
114.0
%
................................
$245,722,180
TBA
Sale
Commitments
(
1.4
)
%
..............................................
(
3,061,572
)
Other
Assets,
less
Liabilities
(
12.6
)
%
........................................
(27,246,565)
Net
Assets
100.0%
.........................................................
$215,414,043
a
a
a
Principal
Amount
*
o
TBA
Sale
Commitments
(1.4)%
Mortgage-Backed
Securities
(1.4)%
Federal
National
Mortgage
Association
(FNMA)
Fixed
Rate
(0.5)%
Uniform
Mortgage-Backed
Securities
,
TBA,
4
%
,
5/25/56
......
United
States
(1,090,000)
(
1,022,344
)
Government
National
Mortgage
Association
(GNMA)
Fixed
Rate
(0.9)%
GNMA
II,
Single-family,
30
Year
,
6
%
,
5/15/56
...............
United
States
(2,000,000)
(
2,039,228
)
Total
TBA
Sale
Commitments
(Proceeds
$
(
3,070,278
)
)
.........................
$(3,061,572)
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
†
Rounds
to
less
than
0.1%
of
net
assets.
a
See
Note
3
(
g
)
regarding
investments
in
affiliated
management
investment
companies.
b
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
April
30,
2026,
the
aggregate
value
of
these
securities
was
$98,636,136,
representing
45.8%
of
net
assets.
c
Perpetual
security
with
no
stated
maturity
date.
d
The
coupon
rate
shown
represents
the
rate
at
period
end.
e
Principal
amount
is
stated
in
100
Mexican
Peso
Units.
f
Income
may
be
received
in
additional
securities
and/or
cash.
g
The
coupon
rate
shown
represents
the
rate
inclusive
of
any
caps
or
floors,
if
applicable,
in
effect
at
period
end.
h
Adjustable
rate
security
with
an
interest
rate
that
is
not
based
on
a
published
reference
index
and
spread.
The
rate
is
based
on
the
structure
of
the
agreement
and
current
market
conditions.
The
coupon
rate
shown
represents
the
rate
at
period
end.
i
A
portion
or
all
of
the
security
purchased
on
a
delayed
delivery
basis.
See
Note
1
(
d
).
j
Investment
in
an
interest-only
security
entitles
holders
to
receive
only
the
interest
payment
on
the
underlying
instruments.
The
principal
amount
shown
is
the
notional
amount
of
the
underlying
instruments.
k
Security
purchased
on
a
to-be-announced
(TBA)
basis.
See
Note
1
(
d
).
l
The
rate
shown
represents
the
yield
at
period
end.
m
A
portion
or
all
of
the
security
has
been
segregated
as
collateral
for
certain
derivative
contracts.
At
April
30,
2026,
the
value
of
this
security
pledged
amounted
to
$1,246,008,
representing
0.6%
of
net
assets.
n
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
o
Security
sold
on
a
to-be-announced
(TBA)
basis
resulting
in
a
short
position.
As
such,
the
Fund
is
not
subject
to
fees
and
expenses
associated
with
short
sale
transactions.
See
Note
1
(
d
).
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
32
At
April
30,
2026
,
the
Fund
had
the
following futures
contracts
outstanding.
See
Note
1
(
e
). 
At
April
30,
2026
,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
See
Note
1(e)
. 
Futures
Contracts
Description
Type
Number
of
Contracts
Notional
Amount
*
Expiration
Date
Value/
Unrealized
Appreciation
(Depreciation)
Interest
rate
contracts
Australia
10
Year
Bonds
.......................
Long
1
$
77,080
6/15/26
$
(
762
)
Australia
3
Year
Bonds
........................
Long
1
74,423
6/15/26
(
455
)
Canada
10
Year
Bonds
........................
Long
36
3,157,272
6/19/26
(
87,094
)
Euro-Bobl
..................................
Long
5
677,489
6/08/26
(
9,557
)
Euro-Bund
.................................
Long
8
1,177,030
6/08/26
(
23,587
)
Euro-Buxl
..................................
Long
7
895,331
6/08/26
(
21,530
)
Euro-Schatz
................................
Long
7
868,794
6/08/26
(
6,817
)
Japan
10
Year
Bonds
.........................
Short
5
4,128,262
6/15/26
79,802
Long
Gilt
...................................
Long
31
3,652,648
6/26/26
(
244,477
)
U.S.
Treasury
10
Year
Notes
....................
Long
30
3,317,812
6/18/26
(
79,266
)
U.S.
Treasury
10
Year
Ultra
Notes
................
Long
8
902,875
6/18/26
(
25,577
)
U.S.
Treasury
2
Year
Notes
.....................
Short
18
3,728,250
6/30/26
33,021
U.S.
Treasury
5
Year
Notes
.....................
Long
40
4,313,438
6/30/26
(
76,908
)
U.S.
Treasury
Long
Bonds
.....................
Long
14
1,579,812
6/18/26
(
67,249
)
U.S.
Treasury
Ultra
Bonds
......................
Long
14
1,610,438
6/18/26
(
77,699
)
Total
Futures
Contracts
......................................................................
$(608,155)
*
As
of
period
end.
Forward
Exchange
Contracts
Currency
Counter-
party
a
Type
Quantity
Contract
Amount
*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
Chinese
Yuan
......
CITI
Sell
2,338,600
340,913
5/20/26
$
—
$
(
1,832
)
Chinese
Yuan
......
JPHQ
Buy
6,208,400
903,282
5/20/26
6,619
—
Chinese
Yuan
......
JPHQ
Sell
2,418,900
351,934
5/20/26
—
(
2,579
)
Chinese
Yuan
......
WPAC
Buy
146,054,700
21,250,440
5/20/26
155,294
—
Chinese
Yuan
......
WPAC
Sell
73,330,700
10,669,356
5/20/26
—
(
77,970
)
Indonesian
Rupiah
..
GSCO
Buy
13,374,158,000
794,662
5/20/26
—
(
22,184
)
Indonesian
Rupiah
..
GSCO
Sell
6,815,649,400
404,970
5/20/26
11,305
—
Japanese
Yen
......
BOFA
Buy
115,762,000
735,512
5/20/26
8,145
(
3,175
)
Japanese
Yen
......
GSCO
Buy
93,184,000
605,504
5/20/26
—
(
9,444
)
Japanese
Yen
......
HSBK
Buy
125,259,900
798,053
5/20/26
6,189
(
3,006
)
Japanese
Yen
......
HSBK
Sell
197,309,400
1,256,102
5/20/26
5,445
(
11,449
)
Japanese
Yen
......
JPHQ
Sell
640,525,000
4,161,917
5/20/26
64,745
—
Japanese
Yen
......
MSCO
Buy
29,592,800
192,317
5/20/26
—
(
3,024
)
Japanese
Yen
......
MSCO
Sell
636,780,400
4,138,286
5/20/26
65,067
—
Japanese
Yen
......
SSBT
Sell
15,470,400
100,523
5/20/26
1,565
—
Japanese
Yen
......
TDOM
Buy
33,318,700
216,537
5/20/26
—
(
3,412
)
Japanese
Yen
......
TDOM
Sell
37,300,500
242,415
5/20/26
3,819
—
Japanese
Yen
......
UBSW
Buy
4,651,300
30,219
5/20/26
—
(
467
)
Singapore
Dollar
....
HSBK
Buy
591,200
470,178
5/20/26
—
(
5,155
)
Singapore
Dollar
....
HSBK
Sell
278,700
221,649
5/20/26
2,430
—
South
Korean
Won
..
GSCO
Buy
419,556,300
288,851
5/20/26
—
(
3,948
)
South
Korean
Won
..
JPHQ
Buy
2,991,339,800
2,058,875
5/20/26
—
(
27,582
)
South
Korean
Won
..
JPHQ
Sell
1,582,624,800
1,089,287
5/20/26
14,593
—
Thai
Baht
.........
SSBT
Sell
16,563,600
535,537
5/20/26
26,731
—
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
33
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
Forward
Exchange
Contracts
(continued)
Currency
Counter-
party
a
Type
Quantity
Contract
Amount*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
(continued)
British
Pound
......
HSBK
Buy
5,375,400
7,137,246
6/17/26
$
176,700
$
—
British
Pound
......
HSBK
Sell
3,803,500
5,061,088
6/17/26
—
(
114,079
)
Czech
Koruna
......
HSBK
Buy
7,216,000
339,272
6/17/26
8,235
—
Czech
Koruna
......
HSBK
Sell
2,795,900
131,454
6/17/26
—
(
3,191
)
Danish
Krone
......
MSCO
Buy
562,400
86,848
6/17/26
1,705
—
Danish
Krone
......
MSCO
Sell
1,366,700
211,052
6/17/26
—
(
4,144
)
Euro
.............
BOFA
Sell
410,600
473,459
6/17/26
—
(
9,449
)
Euro
.............
BZWS
Buy
547,000
641,010
6/17/26
2,318
—
Euro
.............
BZWS
Sell
824,500
966,203
6/17/26
—
(
3,494
)
Euro
.............
HSBK
Buy
14,528,100
16,750,681
6/17/26
335,860
—
Euro
.............
HSBK
Sell
21,719,900
25,042,719
6/17/26
—
(
502,119
)
Euro
.............
JPHQ
Buy
1,035,000
1,194,049
6/17/26
23,218
—
Euro
.............
MSCO
Sell
1,075,200
1,244,843
6/17/26
—
(
19,702
)
Euro
.............
SSBT
Buy
1,262,000
1,484,008
6/17/26
234
—
Euro
.............
SSBT
Sell
543,700
639,346
6/17/26
—
(
101
)
Euro
.............
TDOM
Sell
277,600
320,064
6/17/26
—
(
6,422
)
Euro
.............
UBSW
Buy
1,347,900
1,554,109
6/17/26
31,161
—
Euro
.............
UBSW
Sell
1,998,100
2,309,716
6/17/26
—
(
40,256
)
Hungarian
Forint
....
BOFA
Buy
33,688,000
98,287
6/17/26
9,991
—
Hungarian
Forint
....
BOFA
Sell
17,449,200
50,909
6/17/26
—
(
5,175
)
Norwegian
Krone
...
MSCO
Sell
5,574,400
572,825
6/17/26
—
(
28,543
)
Polish
Zloty
........
MSCO
Buy
147,300
39,582
6/17/26
1,051
—
Polish
Zloty
........
MSCO
Sell
911,300
244,883
6/17/26
—
(
6,502
)
Romanian
New
Leu
.
HSBK
Buy
687,600
153,843
6/17/26
996
—
Romanian
New
Leu
.
HSBK
Sell
342,900
76,720
6/17/26
—
(
496
)
Swedish
Krona
.....
MSCO
Sell
6,652,900
713,508
6/17/26
—
(
8,787
)
Swiss
Franc
.......
SSBT
Buy
288,000
369,664
6/17/26
741
—
Swiss
Franc
.......
UBSW
Buy
656,400
842,587
6/17/26
1,628
—
Swiss
Franc
.......
UBSW
Sell
483,300
620,388
6/17/26
—
(
1,198
)
Australian
Dollar
....
BOFA
Buy
237,900
168,302
7/15/26
2,731
—
Australian
Dollar
....
BOFA
Sell
639,600
452,485
7/15/26
—
(
7,342
)
Australian
Dollar
....
CITI
Buy
79,300
56,100
7/15/26
911
—
Australian
Dollar
....
GSCO
Buy
32,700
23,139
7/15/26
370
—
Australian
Dollar
....
JPHQ
Buy
96,900
68,569
7/15/26
1,095
—
Australian
Dollar
....
MSCO
Buy
75,100
53,144
7/15/26
848
—
Australian
Dollar
....
MSCO
Sell
301,100
213,070
7/15/26
—
(
3,399
)
Australian
Dollar
....
SSBT
Buy
282,400
199,845
7/15/26
3,180
—
Australian
Dollar
....
SSBT
Sell
1,161,900
822,238
7/15/26
—
(
13,084
)
Australian
Dollar
....
TDOM
Buy
11,500
8,137
7/15/26
131
—
Australian
Dollar
....
UBSW
Buy
447,100
316,379
7/15/26
5,054
—
Australian
Dollar
....
WPAC
Buy
298,800
211,444
7/15/26
3,371
—
Australian
Dollar
....
WPAC
Sell
197,000
139,406
7/15/26
—
(
2,223
)
Canadian
Dollar
....
BOFA
Buy
167,700
121,989
7/15/26
1,856
—
Canadian
Dollar
....
BOFA
Sell
1,869,600
1,359,986
7/15/26
—
(
20,690
)
Canadian
Dollar
....
BZWS
Sell
304,700
221,602
7/15/26
—
(
3,415
)
Canadian
Dollar
....
CITI
Buy
1,590,300
1,159,736
7/15/26
14,680
—
Canadian
Dollar
....
CITI
Sell
2,381,200
1,738,471
7/15/26
—
(
20,016
)
Canadian
Dollar
....
GSCO
Sell
163,900
120,236
7/15/26
—
(
803
)
Canadian
Dollar
....
HSBK
Buy
5,369,500
3,905,261
7/15/26
60,047
—
Canadian
Dollar
....
JPHQ
Buy
18,900
13,746
7/15/26
212
—
Canadian
Dollar
....
MSCO
Sell
216,800
157,664
7/15/26
—
(
2,440
)
Canadian
Dollar
....
SSBT
Buy
161,700
117,620
7/15/26
1,793
—
Canadian
Dollar
....
SSBT
Sell
508,300
369,736
7/15/26
—
(
5,637
)
Canadian
Dollar
....
TDOM
Buy
146,400
106,485
7/15/26
1,629
—
Canadian
Dollar
....
UBSW
Buy
676,900
492,388
7/15/26
7,494
—
Israeli
New
Shekel
..
BOFA
Sell
225,800
74,388
7/15/26
—
(
2,260
)
Israeli
New
Shekel
..
SSBT
Buy
605,900
199,471
7/15/26
6,204
—
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
34
At
April
30,
2026,
the
Fund
had
the
following forward
premium
swap
options contracts
outstanding.
See
Note
1(e). 
Forward
Exchange
Contracts
(continued)
Currency
Counter-
party
a
Type
Quantity
Contract
Amount*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
(continued)
Israeli
New
Shekel
..
SSBT
Sell
217,200
71,505
7/15/26
$
—
$
(
2,224
)
Mexican
Peso
......
BOFA
Sell
3,509,400
201,435
7/15/26
1,776
—
Mexican
Peso
......
HSBK
Buy
395,400
22,694
7/15/26
—
(
199
)
Mexican
Peso
......
MSCO
Sell
1,995,800
114,560
7/15/26
1,013
—
Mexican
Peso
......
TDOM
Buy
2,680,100
153,834
7/15/26
—
(
1,356
)
Mexican
Peso
......
UBSW
Buy
1,767,000
101,421
7/15/26
—
(
892
)
New
Zealand
Dollar
.
BOFA
Sell
199,900
117,475
7/15/26
—
(
897
)
New
Zealand
Dollar
.
MSCO
Sell
335,300
197,049
7/15/26
—
(
1,500
)
New
Zealand
Dollar
.
SSBT
Sell
200,300
117,713
7/15/26
—
(
895
)
New
Zealand
Dollar
.
UBSW
Sell
37,300
21,919
7/15/26
—
(
168
)
New
Zealand
Dollar
.
WPAC
Sell
97,200
57,128
7/15/26
—
(
429
)
Total
Forward
Exchange
Contracts
...................................................
$1,080,180
$(1,018,754)
Net
unrealized
appreciation
(depreciation)
............................................
$61,426
*
In
U.S.
dollars
unless
otherwise
indicated.
a
May
be
comprised
of
multiple
contracts
with
the
same
counterparty,
currency
and
settlement
date.
Forward
Premium
Swap
Option
Contracts
Fixed
right
or
obligation
to
receive
or
(pay)/
Floating
rate
index/Maturity
date
Counter
par
t
y
Expiration
date/strike
Notional/
Contract
amount
*
Premium
receivable/
(payable)
Unrealized
appreciation/
(depreciation)
a
a
a
a
a
3.725%/1-day
SOFR/Nov-36/(Purchased)
BOFA
11/23/26
/
3.725%
2,565,500
$
125,453
$
(
97,764
)
(4.225%)/1-day
SOFR/Nov-36/(Purchased)
BOFA
11/23/26
/
4.225%
2,565,500
131,353
(
98,197
)
(3.428%)/1-day
SOFR/Aug-37/(Purchased)
BOFA
8/13/27
/
3.428%
658,500
37,897
3,401
3.428%/1-day
SOFR/Aug-37/(Purchased)
BOFA
8/13/27
/
3.428%
658,500
37,897
(
29,199
)
4.2%/1-day
SOFR/Aug-60/(Purchased)
BOFA
8/26/30
/
4.2%
175,900
21,935
(
3,731
)
(4.2%)/1-day
SOFR/Aug-60/(Purchased)
BOFA
8/26/30
/
4.2%
175,900
21,935
(
1,279
)
(4.608%)/1-day
SOFR/May-56/(Purchased)
CITI
5/26/26
/
4.608%
729,800
26,492
(
26,159
)
4.33%/1-day
SOFR/May-52/(Purchased)
DBAB
5/19/32
/
4.33%
65,400
8,191
(
1,732
)
(4.33%)/1-day
SOFR/May-52/(Purchased)
DBAB
5/19/32
/
4.33%
65,400
8,191
(
710
)
2.35%/1-day
SOFR/Mar-59/(Purchased)
GSCO
3/12/29
/
2.35%
2,033,100
118,530
(
91,984
)
(2.495%)/6-month
AUD
BBR/Nov-46/
(Purchased)
JPHQ
11/23/26
/
2.495%
AUD
1,458,600
90,476
266,913
2.495%/6-month
AUD
BBR/Nov-46/
(Purchased)
JPHQ
11/23/26
/
2.495%
AUD
1,458,600
90,476
(
88,218
)
(4.13%)/1-day
SOFR/Dec-57/(Purchased)
JPHQ
12/09/27
/
4.13%
640,500
50,183
(
2,088
)
4.13%/1-day
SOFR/Dec-57/(Purchased)
JPHQ
12/09/27
/
4.13%
640,500
50,183
(
13,488
)
2.452%/6-month
EURIBOR/Feb-48/
(Purchased)
JPHQ
1/31/28
/
2.452%
EUR
1,131,300
88,330
(
65,786
)
(2.452%)/6-month
EURIBOR/Feb-48/
(Purchased)
JPHQ
1/31/28
/
2.452%
EUR
1,131,300
88,330
90,385
1.201%/6-month
EURIBOR/Apr-39/
(Purchased)
JPHQ
4/11/29
/
1.201%
EUR
1,958,200
38,868
(
29,930
)
(4.201%)/6-month
EURIBOR/Apr-39/
(Purchased)
JPHQ
4/11/29
/
4.201%
EUR
1,958,200
48,952
(
5,800
)
(1.445%)/6-month
AUD
BBR/Mar-40/
(Purchased)
JPHQ
3/27/30
/
1.445%
AUD
261,200
9,989
39,840
1.445%/6-month
AUD
BBR/Mar-40/
(Purchased)
JPHQ
3/27/30
/
1.445%
AUD
261,200
9,989
(
8,003
)
4.2%/1-day
SOFR/Feb-39/(Purchased)
MCM
2/05/29
/
4.2%
1,690,000
75,205
—
(4.2%)/1-day
SOFR/Feb-39/(Purchased)
MCM
2/05/29
/
4.2%
1,690,000
75,205
1,460
4.01%/1-day
SOFR/Mar-52/(Purchased)
MCM
3/29/32
/
4.01%
117,800
14,124
(
4,626
)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
35
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
At
April
30,
2026
,
the
Fund
had
the
following credit
default
swap
contracts outstanding.
See
Note
1
(
e
). 
Forward
Premium
Swap
Option
Contracts
(continued)
Fixed
right
or
obligation
to
receive
or
(pay)/
Floating
rate
index/Maturity
date
Counter
party
Expiration
date/strike
Notional/
Contract
amount
*
Premium
receivable/
(payable)
Unrealized
appreciation/
(depreciation)
a
a
a
a
a
(4.01%)/1-day
SOFR/Mar-52/(Purchased)
MCM
3/29/32
/
4.01%
117,800
$
14,124
$
1,150
(2.952%)/6-month
EURIBOR/Jun-49/
(Purchased)
MSCO
6/18/29
/
2.952%
EUR
1,685,000
134,324
59,207
(4.825%)/1-day
SOFR/May-57/(Purchased)
NATW
4/30/27
/
4.825%
1,008,800
36,518
(
17,462
)
(2%)/6-month
AUD
BBR/Sep-46/(Purchased)
UBSW
9/10/36
/
2%
AUD
975,900
51,763
82,427
2%/6-month
AUD
BBR/Sep-46/(Purchased)
UBSW
9/10/36
/
2%
AUD
975,900
51,763
(
29,390
)
(2.7%)/6-month
AUD
BBR/Apr-47/(Purchased)
UBSW
4/01/37
/
2.7%
AUD
1,140,000
69,163
63,164
2.7%/6-month
AUD
BBR/Apr-47/(Purchased)
UBSW
4/01/37
/
2.7%
AUD
1,140,000
69,164
(
36,625
)
Unrealized
appreciation
607,947
Unrealized
(depreciation)
(652,171)
Total
$(44,224)
*
In
U.S.
dollars
unless
otherwise
indicated.
Credit
Default
Swap
Contracts
Description
Periodic
Payment
Rate
Received
(Paid)
Payment
Frequency
Counter-
party
Maturity
Date
Notional
Amount
a
Value
Upfront
Payments
(Receipts)
Unrealized
Appreciation
(Depreciation)
Rating
b
Centrally
Cleared
Swap
Contracts
Contracts
to
Buy
Protection
c
Traded
Index
iTraxx
Europe
Main
45
....
(1.00)%
Quarterly
6/20/31
2,810,000
EUR
$
(
67,700
)
$
(
41,451
)
$
(
26,249
)
Contracts
to
Sell
Protection
c,d
Traded
Index
CDX.NA.IG.46
..
1.00%
Quarterly
6/20/31
3,230,000
71,613
51,256
20,357
Investment
Grade
Total
Centrally
Cleared
Swap
Contracts
.....................................
$3,913
$9,805
$(5,892)
OTC
Swap
Contracts
Contracts
to
Buy
Protection
c
Traded
Index
CMBX.NA.BBB-.7
(3.00)%
Monthly
MLCO
1/17/47
16,000
602
1,311
(
709
)
Contracts
to
Sell
Protection
c,d
Traded
Index
CMBX.NA.BBB-.7
3.00%
Monthly
JPHQ
1/17/47
16,000
(
602
)
(
3,756
)
3,154
Investment
Grade
Total
OTC
Swap
Contracts
..............................................
$—
$(2,445)
$2,445
Total
Credit
Default
Swap
Contracts
....................................
$3,913
$
7,360
$(3,447)
a
In
U.S.
dollars
unless
otherwise
indicated.
For
contracts
to
sell
protection,
the
notional
amount
is
equal
to
the
maximum
potential
amount
of
the
future
payments
and
no
recourse
provisions
have
been
entered
into
in
association
with
the
contracts.
b
Based
on
Standard
and
Poor's
(S&P)
Rating
for
single
name
swaps
and
internal
ratings
for
index
swaps.
Internal
ratings
based
on
mapping
into
equivalent
ratings
from
external
vendors.
c
Performance
triggers
for
settlement
of
contract
include
default,
bankruptcy
or
restructuring
for
single
name
swaps,
and
failure
to
pay
or
bankruptcy
of
the
underlying
securities
for
traded
index
swaps.
d
The
fund
enters
contracts
to
sell
protection
to
create
a
long
credit
position.
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
36
At
April
30,
2026
,
the
Fund
had
the
following
interest
rate
swap
contracts
outstanding.
See
Note
1
(
e
). 
Interest
Rate
Swap
Contracts
Description
Payment
Frequency
Maturity
Date
Notional
Amount
*
Value
Upfront
Payments
(Receipts)
Unrealized
Appreciation
(Depreciation)
aa
aa
aa
aa
Centrally
Cleared
Swap
Contracts
Receive
Floating
1-day
SOFR
..............
Annual
Pay
Fixed
3.3%
.....
Annual
3/18/28
20,827,000
$
175,866
$
(
19,081
)
$
194,947
Receive
Floating
1-day
REPO_CORRA
.......
Semi-Annual
Pay
Fixed
2.75%
....
Semi-Annual
6/17/28
3,318,000
CAD
6,728
6,598
130
Receive
Floating
1-day
SOFR
..............
Annual
Pay
Fixed
3.5%
.....
Annual
6/17/28
3,800,000
15,826
15,826
—
Receive
Fixed
2.7%
...
Annual
Pay
Floating
6-month
EURIBOR
.........
Semi-Annual
6/17/28
9,360,000
EUR
(
39,985
)
(
18,662
)
(
21,323
)
Receive
Floating
3-month
AUD
BBR
...........
Quarterly
Pay
Fixed
4.6%
.....
Quarterly
6/17/28
2,366,500
AUD
3,895
3,589
306
Receive
Fixed
4.05%
..
Annual
Pay
Floating
1-day
SONIA
...........
Annual
6/17/28
920,000
GBP
(
6,903
)
(
5,862
)
(
1,041
)
Receive
Floating
1-day
SOFR
..............
Annual
Pay
Fixed
3.45%
....
Annual
3/18/31
24,999,000
314,394
53,774
260,620
Receive
Fixed
1.65%
..
Quarterly
Pay
Floating
1-week
CNY-Fixing
Repo
Rate
Quarterly
6/17/31
139,401,000
CNY
89,019
55,011
34,008
Receive
Floating
1-day
SOFR
..............
Annual
Pay
Fixed
3.55%
....
Annual
6/17/31
5,089,000
42,981
26,224
16,757
Receive
Fixed
2.95%
..
Semi-Annual
Pay
Floating
1-day
REPO_CORRA
.....
Semi-Annual
6/17/31
5,611,000
CAD
(
15,178
)
(
24,199
)
9,021
Receive
Fixed
4.15%
..
Annual
Pay
Floating
1-day
SONIA
...........
Annual
6/17/31
2,868,000
GBP
(
26,615
)
(
15,920
)
(
10,695
)
Receive
Fixed
4.9%
...
Semi-Annual
Pay
Floating
6-month
AUD
BBR
.........
Semi-Annual
6/17/31
1,694,000
AUD
(
2,707
)
1,240
(
3,947
)
Receive
Floating
6-month
EURIBOR
...........
Semi-Annual
Pay
Fixed
2.8%
.....
Annual
6/17/31
868,000
EUR
4,790
8,927
(
4,137
)
Receive
Fixed
3.75%
..
Annual
Pay
Floating
1-day
SOFR
............
Annual
3/18/36
2,245,000
(
36,858
)
7,211
(
44,069
)
Receive
Fixed
0.65%
..
Annual
Pay
Floating
1-day
SARON
..........
Annual
6/17/36
1,191,000
CHF
5,147
5,523
(
376
)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
37
Putnam
Global
Income
Trust
Schedule
of
Investments
(unaudited)
Interest
Rate
Swap
Contracts
(continued)
Description
Payment
Frequency
Maturity
Date
Notional
Amount*
Value
Upfront
Payments
(Receipts)
Unrealized
Appreciation
(Depreciation)
aa
aa
aa
aa
Centrally
Cleared
Swap
Contracts
(continued)
Receive
Floating
1-day
REPO_CORRA
.......
Semi-Annual
Pay
Fixed
3.3%
.....
Semi-Annual
6/17/36
4,974,000
CAD
$
7,459
$
(
4,517
)
$
11,976
Receive
Floating
1-day
SOFR
..............
Annual
Pay
Fixed
3.8%
.....
Annual
6/17/36
3,784,000
51,780
43,198
8,582
Receive
Floating
1-day
SONIA
.............
Annual
Pay
Fixed
4.4%
.....
Annual
6/17/36
809,000
GBP
14,059
210
13,849
Receive
Fixed
3.05%
..
Annual
Pay
Floating
6-month
EURIBOR
.........
Semi-Annual
6/17/36
7,170,000
EUR
(
27,705
)
(
71,977
)
44,272
Receive
Fixed
3.65%
..
Quarterly
Pay
Floating
3-month
CD_KSDA
.........
Quarterly
6/17/36
3,210,895,000
KRW
(
36,441
)
(
1,879
)
(
34,562
)
Receive
Floating
3-month
AUD
BBR
...........
Quarterly
Pay
Fixed
4.4%
.....
Semi-Annual
6/17/36
1,465,000
NZD
1,052
1,327
(
275
)
Receive
Floating
3-month
STIBOR
............
Quarterly
Pay
Fixed
3%
......
Annual
6/17/36
1,342,000
SEK
931
1,132
(
201
)
Receive
Floating
6-month
AUD
BBR
...........
Semi-Annual
Pay
Fixed
5.05%
....
Semi-Annual
6/17/36
1,133,000
AUD
4,482
3,155
1,327
Receive
Floating
6-month
NIBOR
.............
Semi-Annual
Pay
Fixed
4.4%
.....
Annual
6/17/36
32,675,000
NOK
14,579
2,888
11,691
Receive
Fixed
4.1%
...
Annual
Pay
Floating
1-day
SOFR
............
Annual
3/18/56
3,564,000
(
67,048
)
(
49,189
)
(
17,859
)
Receive
Fixed
3.15%
..
Annual
Pay
Floating
6-month
EURIBOR
.........
Semi-Annual
6/17/56
857,000
EUR
(
2,395
)
(
5,774
)
3,379
Receive
Fixed
3.6%
...
Semi-Annual
Pay
Floating
1-day
REPO_CORRA
.....
Semi-Annual
6/17/56
1,093,000
CAD
(
1,895
)
(
4,672
)
2,777
Receive
Fixed
4.8%
...
Annual
Pay
Floating
1-day
SONIA
...........
Annual
6/17/56
311,000
GBP
(
10,352
)
(
456
)
(
9,896
)
Receive
Fixed
5.1%
...
Semi-Annual
Pay
Floating
6-month
AUD
BBR
.........
Semi-Annual
6/17/56
1,295,000
AUD
(
1,564
)
2,941
(
4,505
)
Total
Interest
Rate
Swap
Contracts
.................................
$477,342
$
16,586
$460,756
*
In
U.S.
dollars
unless
otherwise
indicated.
See
Note 
8
 regarding
other
derivative
information.
See
A
bbreviations
on
page
59
.
Putnam
Global
Income
Trust
Financial
Statements
Statement
of
Assets
and
Liabilities
April
30,
2026
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
38
Putnam
Global
Income
Trust
Assets:
Investments
in
securities:
Cost
-
Unaffiliated
issuers
...................................................................
$241,613,972
Cost
-
Non-controlled
affiliates
(Note
3
g
)
........................................................
10,504,746
Value
-
Unaffiliated
issuers
..................................................................
$235,183,863
Value
-
Non-controlled
affiliates
(Note
3
g
)
.......................................................
10,538,317
Cash
....................................................................................
1,286,547
Foreign
currency,
at
value
(cost
$72,603)
.........................................................
72,679
Receivables:
Investment
securities
sold
...................................................................
5,983
Receivable
for
sales
of
TBA
securities
(Note
1
d
)
..................................................
3,070,278
Capital
shares
sold
........................................................................
510,670
Dividends
and
interest
.....................................................................
1,351,357
Deposits
with
brokers
for:
Centrally
cleared
swap
contracts
............................................................
1,312,999
Variation
margin
on
futures
contracts
...........................................................
68,990
OTC
swap
contracts
(upfront
payments
)
..........................................................
1,311
Unrealized
appreciation
on
OTC
forward
exchange
contracts
..........................................
1,080,180
Unrealized
appreciation
on
forward
premium
swap
option
contracts
.....................................
607,947
Unrealized
appreciation
on
OTC
swap
contracts
....................................................
3,154
Prepaid
expenses
..........................................................................
90,068
Total
assets
..........................................................................
255,184,343
Liabilities:
Payables:
Investment
securities
purchased
..............................................................
1,172,455
Payable
for
purchases
of
TBA
securities
(Note
1
d
)
................................................
32,826,836
Capital
shares
redeemed
...................................................................
362,283
Management
fees
.........................................................................
50,089
Distribution
fees
..........................................................................
16,144
Transfer
agent
fees
........................................................................
64,299
Trustees'
fees
and
expenses
.................................................................
60,956
Variation
margin
on
centrally
cleared
swap
contracts
...............................................
73,355
Deposits
from
brokers
for:
OTC
derivative
contracts
..................................................................
310,000
OTC
swap
contracts
(upfront
receipts
)
...........................................................
3,756
Unrealized
depreciation
on
OTC
swap
contracts
....................................................
709
Unrealized
depreciation
on
OTC
forward
exchange
contracts
..........................................
1,018,754
Unrealized
depreciation
on
forward
premium
swap
option
contracts
.....................................
652,171
TBA
sale
commitments,
at
value
(proceeds
$3,070,278)
(Note
1d)
......................................
3,061,572
Accrued
expenses
and
other
liabilities
...........................................................
96,921
Total
liabilities
.........................................................................
39,770,300
Net
assets,
at
value
.................................................................
$215,414,043
Net
assets
consist
of:
Paid-in
capital
.............................................................................
$253,470,358
Total
distributable
earnings
(losses)
.............................................................
(38,056,315)
Net
assets,
at
value
.................................................................
$215,414,043
Putnam
Global
Income
Trust
Financial
Statements
Statement
of
Assets
and
Liabilities
(continued)
April
30,
2026
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
39
Putnam
Global
Income
Trust
Class
A:
Net
assets,
at
value
.......................................................................
$69,496,204
Shares
outstanding
........................................................................
6,955,967
Net
asset
value
per
share
a,b
..................................................................
$9.99
Maximum
offering
price
per
share
(net
asset
value
per
share
÷
96.00%)
b
................................
$10.41
Class
C:
Net
assets,
at
value
.......................................................................
$1,649,903
Shares
outstanding
........................................................................
166,018
Net
asset
value
and
maximum
offering
price
per
share
a,b
............................................
$9.94
Class
R:
Net
assets,
at
value
.......................................................................
$1,022,365
Shares
outstanding
........................................................................
102,402
Net
asset
value
and
maximum
offering
price
per
share
b
.............................................
$9.98
Class
R5:
Net
assets,
at
value
.......................................................................
$63,850
Shares
outstanding
........................................................................
6,393
Net
asset
value
and
maximum
offering
price
per
share
b
.............................................
$9.99
Class
R6:
Net
assets,
at
value
.......................................................................
$14,126,068
Shares
outstanding
........................................................................
1,415,068
Net
asset
value
and
maximum
offering
price
per
share
b
.............................................
$9.98
Class
Y:
Net
assets,
at
value
.......................................................................
$129,055,653
Shares
outstanding
........................................................................
12,924,014
Net
asset
value
and
maximum
offering
price
per
share
b
.............................................
$9.99
a
Redemption
price
is
equal
to
net
asset
value
less
contingent
deferred
sales
charges,
if
applicable.
b
Net
asset
value
per
share
may
not
recalculate
due
to
rounding.
Putnam
Global
Income
Trust
Financial
Statements
Statement
of
Operations
for
the
six
months
ended
April
30,
2026
(unaudited)
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
40
Putnam
Global
Income
Trust
Investment
income:
Dividends:
Non-controlled
affiliates
(Note
3
g
)
.............................................................
$304,350
Interest:
Unaffiliated
issuers
........................................................................
4,299,925
Total
investment
income
...................................................................
4,604,275
Expenses:
Management
fees
(Note
3
a
)
...................................................................
556,950
Administrative
fees
(Note
3
b
)
..................................................................
1,826
Distribution
fees:
(Note
3c
)
    Class
A
................................................................................
87,863
    Class
C
................................................................................
8,107
    Class
R
................................................................................
2,629
Transfer
agent
fees:
(Note
3e
)
    Class
A
................................................................................
72,162
    Class
C
................................................................................
1,659
    Class
R
................................................................................
1,071
    Class
R5
...............................................................................
30
    Class
R6
...............................................................................
3,586
    Class
Y
................................................................................
130,491
Custodian
fees
.............................................................................
2,546
Reports
to
shareholders
fees
..................................................................
22,011
Registration
and
filing
fees
....................................................................
45,535
Professional
fees
...........................................................................
76,098
Trustees'
fees
and
expenses
(Note
3
f
)
...........................................................
4,393
Other
....................................................................................
3,845
Total
expenses
.........................................................................
1,020,802
Expense
reductions
(Note
4
)
...............................................................
(1,280)
Expenses
waived/paid
by
affiliates
(Note
3
g
and
3
h
)
..............................................
(255,018)
Net
expenses
.........................................................................
764,504
Net
investment
income
................................................................
3,839,771
Putnam
Global
Income
Trust
Financial
Statements
Statement
of
Operations
(continued)
for
the
six
months
ended
April
30,
2026
(unaudited)
franklintempleton.com
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Semiannual
Report
41
Putnam
Global
Income
Trust
Realized
and
unrealized
gains
(losses):
Net
realized
gain
(loss)
from:
Investments:
Unaffiliated
issuers
......................................................................
267,522
Foreign
currency
transactions
................................................................
(22,555)
Forward
exchange
contracts
.................................................................
887,412
Forward
premium
swap
option
contracts
........................................................
(44,507)
Futures
contracts
.........................................................................
633,118
TBA
sale
commitments
.....................................................................
144,632
Swap
contracts
...........................................................................
(846,159)
Net
realized
gain
(loss)
..................................................................
1,019,463
Net
change
in
unrealized
appreciation
(depreciation)
on:
Investments:
Unaffiliated
issuers
......................................................................
(2,795,623)
Non-controlled
affiliates
(Note
3
g
)
...........................................................
(13,034)
Translation
of
other
assets
and
liabilities
denominated
in
foreign
currencies
..............................
(31,702)
Forward
exchange
contracts
.................................................................
(473,320)
Forward
premium
swap
option
contracts
........................................................
117,452
Futures
contracts
.........................................................................
(1,051,289)
TBA
sale
commitments
.....................................................................
15,885
Swap
contracts
...........................................................................
607,119
Net
change
in
unrealized
appreciation
(depreciation)
............................................
(3,624,512)
Net
realized
and
unrealized
gain
(loss)
............................................................
(2,605,049)
Net
increase
(decrease)
in
net
assets
resulting
from
operations
..........................................
$1,234,722
Putnam
Global
Income
Trust
Financial
Statements
Statements
of
Changes
in
Net
Assets
franklintempleton.com
Semiannual
Report
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
42
Putnam
Global
Income
Trust
Six
Months
Ended
April
30,
2026
(unaudited)
Year
Ended
October
31,
2025
Increase
(decrease)
in
net
assets:
Operations:
Net
investment
income
.................................................
$3,839,771
$8,079,558
Net
realized
gain
(loss)
.................................................
1,019,463
(920,913)
Net
change
in
unrealized
appreciation
(depreciation)
...........................
(3,624,512)
4,105,587
Net
increase
(decrease)
in
net
assets
resulting
from
operations
................
1,234,722
11,264,232
Distributions
to
shareholders:
Class
A
.............................................................
(1,125,163)
(3,715,315)
Class
C
.............................................................
(19,589)
(79,298)
Class
R
.............................................................
(15,402)
(56,421)
Class
R5
............................................................
(1,010)
(2,989)
Class
R6
............................................................
(258,237)
(769,956)
Class
Y
.............................................................
(2,200,047)
(6,677,582)
Total
distributions
to
shareholders
..........................................
(3,619,448)
(11,301,561)
Capital
share
transactions:
(Note
2
)
Class
A
.............................................................
1,330,529
(6,759,197)
Class
C
.............................................................
143,019
(407,490)
Class
R
.............................................................
(20,234)
(165,742)
Class
R5
............................................................
9,922
3,880
Class
R6
............................................................
(208,075)
(2,442,191)
Class
Y
.............................................................
3,331,601
7,355,270
Total
capital
share
transactions
............................................
4,586,762
(2,415,470)
Net
increase
(decrease)
in
net
assets
...................................
2,202,036
(2,452,799)
Net
assets:
Beginning
of
period
.....................................................
213,212,007
215,664,806
End
of
period
..........................................................
$215,414,043
$213,212,007
Putnam
Global
Income
Trust
43
franklintempleton.com
Semiannual
Report
Notes
to
Financial
Statements
(unaudited)
1.
Organization
and
Significant
Accounting
Policies
Putnam
Global
Income
Trust (Fund)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company.
The Fund
follows
the
accounting
and
reporting
guidance
in
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
–
Investment
Companies
(ASC
946)
and
applies
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP),
including,
but
not
limited
to,
ASC
946.
The
Fund
offers six
classes
of
shares:
Class
A,
Class
C,
Class
R,
Class
R5,
Class
R6
and
Class
Y.
Class
C
shares
automatically
convert
to
Class
A
shares
on
a
monthly
basis,
after
they
have
been
held
for
8
years.
Each
class
of
shares
may
differ
by
its
initial
sales
load,
contingent
deferred
sales
charges,
voting
rights
on
matters
affecting
a
single
class,
its
exchange
privilege
and
fees
due
to
differing
arrangements
for
distribution
and
transfer
agent
fees.
The
Fund
will
be
closed
to
new
investors
effective
June
26,
2026.
The
following
summarizes
the 
Fund
's
significant
accounting
policies.
a.
Financial
Instrument
Valuation
The
Fund's
investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Fund
calculates
the
net
asset
value
(NAV)
per
share
each business
day as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the Fund's
Board
of
Trustees
(the
Board),
the
Board
has
designated
the
Fund’s
investment
manager
as
the
valuation
designee
and
has
responsibility
for
oversight
of
valuation.
The
investment
manager
is
assisted
by
the
Fund’s
administrator
in
performing
this
responsibility,
including
leading
the
cross-
functional
Valuation
Committee
(VC).
The
Fund
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value.
Equity
securities,
exchange
traded
funds,
and
derivative
financial
instruments
listed
on
an
exchange
or
on
the
NASDAQ
National
Market
System
are
valued
at
the
last
quoted
sale
price
or
the
official
closing
price
of
the
day,
respectively.
Over-the-counter
(OTC)
securities
are
valued
within
the
range
of
the
most
recent
quoted
bid
and
ask
prices.
Securities
that
trade
in
multiple
markets
or
on
multiple
exchanges
are
valued
according
to
the
broadest
and
most
representative
market.
Certain
equity
securities
are
valued
based
upon
fundamental
characteristics
or
relationships
to
similar
securities.
Debt
securities
generally
trade
in
the OTC
market
rather
than
on
a
securities
exchange.
The
Fund's
pricing
services
use
multiple
valuation
techniques
to
determine
fair
value.
In
instances
where
sufficient
market
activity
exists,
the
pricing
services
may
utilize
a
market-based
approach
through
which
quotes
from
market
makers
are
used
to
determine
fair
value.
In
instances
where
sufficient
market
activity
may
not
exist
or
is
limited,
the
pricing
services
also
utilize
proprietary
valuation
models
which
may
consider
market
characteristics
such
as
benchmark
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
anticipated
timing
of
principal
repayments,
underlying
collateral,
and
other
unique
security
features
in
order
to
estimate
the
relevant
cash
flows,
which
are
then
discounted
to
calculate
the
fair
value.
Securities
denominated
in
a
foreign
currency
are
converted
into
their
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m.
Eastern
time
on
the
date
that
the
values
of
the
foreign
debt
securities
are
determined.
Investments
in open-end mutual
funds
are
valued
at
the
closing
NAV.
Certain
derivative
financial
instruments
are
centrally
cleared
or
trade
in
the
OTC
market.
The
Fund's
pricing
services
use
various
techniques
including
industry
standard
option
pricing
models
and
proprietary
discounted
cash
flow
models
to
determine
the
fair
value
of
those
instruments.
The
Fund's
net
benefit
or
obligation
under
the
derivative
contract,
as
measured
by
the
fair
value
of
the
contract,
is
included
in
net
assets.
The
Fund
has
procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the Fund
primarily
employs
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
future
cash
flows
of
the
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
44
franklintempleton.com
Semiannual
Report
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed.
b.
Foreign
Currency
Translation 
Portfolio
securities
and
other
assets
and
liabilities
denominated
in
foreign
currencies
are
translated
into
U.S.
dollars
based
on
the
exchange
rate
of
such
currencies
against
U.S.
dollars
on
the
date
of
valuation.
The
Fund
may
enter
into
foreign
currency
exchange
contracts
to
facilitate
transactions
denominated
in
a
foreign
currency.
Purchases
and
sales
of
securities,
income
and
expense
items
denominated
in
foreign
currencies
are
translated
into
U.S.
dollars
at
the
exchange
rate
in
effect
on
the
transaction
date.
Portfolio
securities
and
assets
and
liabilities
denominated
in
foreign
currencies
contain
risks
that
those
currencies
will
decline
in
value
relative
to
the
U.S.
dollar.
Occasionally,
events
may
impact
the
availability
or
reliability
of
foreign
exchange
rates
used
to
convert
the
U.S.
dollar
equivalent
value.
If
such
an
event
occurs,
the
foreign
exchange
rate
will
be
valued
at
fair
value
using
procedures
established
and
approved
by
the
Board.
The
Fund
does
not
separately
report
the
effect
of
changes
in
foreign
exchange
rates
from
changes
in
market
prices
on
securities
held.
Such
changes
are
included
in
net
realized
and
unrealized
gain
or
loss
from
investments
in
the
Statement of
Operations.
Realized
foreign
exchange
gains
or
losses
arise
from
sales
of
foreign
currencies,
currency
gains
or
losses
realized
between
the
trade
and
settlement
dates
on
securities
transactions
and
the
difference
between
the
recorded
amounts
of
dividends,
interest,
and
foreign
withholding
taxes
and
the
U.S.
dollar
equivalent
of
the
amounts
actually
received
or
paid.
Net
unrealized
foreign
exchange
gains
and
losses
arise
from
changes
in
foreign
exchange
rates
on
foreign
denominated
assets
and
liabilities
other
than
investments
in
securities
held
at
the
end
of
the
reporting
period.
c.
Stripped
Securities 
The
Fund
may
invest
in
stripped
securities
which
represent
a
participation
in
securities
that
may
be
structured
in
classes
with
rights
to
receive
different
portions
of
the
interest
and
principal.
Interest-only
securities
receive
all
of
the
interest
and
principal-only
securities
receive
all
of
the
principal.
If
the
interest
only
securities
experience
greater
than
anticipated
prepayments
of
principal,
the
Fund
may
fail
to
recoup
fully
its
initial
investment
in
these
securities.
Conversely,
principal-
only
securities
increase
in
value
if
prepayments
are
greater
than
anticipated
and
decline
if
prepayments
are
slower
than
anticipated.
The
fair
value
of
these
securities
is
highly
sensitive
to
changes
in
interest
rates.
d.
Securities
Purchased
on
a
When-Issued,
Forward Commitment or
Delayed
Delivery
Basis
and
TBA
Basis
The
Fund
may
purchase
securities
on
a when-issued,
forward
commitment
or
delayed
delivery
and to-be-
announced
(TBA)
basis,
with
payment
and
delivery
scheduled
for
a
future
date.
These
transactions
are
subject
to
market
fluctuations
and
are
subject
to
the
risk
that
the
value
at
delivery
may
be
more
or
less
than
the
trade
date
purchase
price.
Although
the
Fund
will
generally
purchase
these
securities
with
the
intention
of
holding
the
securities, it
may
sell
the
securities
before
the
settlement
date.
The
Fund
may
also
enter
into
TBA
sale
commitments
to
hedge
its
portfolio
positions,
to
sell
mortgage-backed
securities
it
owns
under
delayed
delivery
arrangements
or
to
take
a
short
position
in
mortgage-backed
securities.
Proceeds
of
TBA
sale
commitments
are
not
received
until
the
contractual
settlement
date.
During
the
time
a
TBA
sale
commitment
is
outstanding,
either
equivalent
deliverable
securities
or
an
offsetting
TBA
purchase
commitment
deliverable
on
or
before
the
sale
commitment
date
are
held
as
“cover”
for
the
transaction,
or
other
liquid
assets
in
an
amount
equal
to
the
notional
value
of
the
TBA
sale
commitment
are
segregated.
If
the
TBA
sale
commitment
is
closed
through
the
acquisition
of
an
offsetting
TBA
purchase
commitment,
the
Fund
realizes
a
gain
or
loss.
If
the
Fund
delivers
securities
under
the
commitment,
the
Fund
realizes
a
gain
or
a
loss
from
the
sale
of
the
securities
based
upon
the
unit
price
established
at
the
date
the
commitment
was
entered
into.
1.
Organization
and
Significant
Accounting
Policies
(continued)
a.
Financial
Instrument
Valuation
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
45
franklintempleton.com
Semiannual
Report
TBA
commitments,
which
are
accounted
for
as
purchase
and
sale
transactions,
may
be
considered
securities
themselves,
and
involve
a
risk
of
loss
due
to
changes
in
the
value
of
the
security
prior
to
the
settlement
date
as
well
as
the
risk
that
the
counterparty
to
the
transaction
will
not
perform
its
obligations.
Counterparty
risk
is
mitigated
by
having
a
master
agreement
between
the
Fund
and
the
counterparty.
Unsettled
TBA
commitments
are
valued
at
their
fair
value
according
to
the
procedures
described
in
the
Financial
Instrument
Valuation
note.
The
contract
is
marked
to
market
daily
and
the
change
in
fair
value
is
recorded
by
the
Fund
as
an
unrealized
gain
or
loss.
Based
on
market
circumstances,
the
investment
manager
will
determine
whether
to
take
delivery
of
the
underlying
securities
or
to
dispose
of
the
TBA
commitments
prior
to
settlement.
e.
Derivative
Financial
Instruments
The
Fund invested
in
derivative
financial
instruments
in
order
to
manage
risk
or
gain
exposure
to
various
other
investments
or
markets.
Derivatives
are
financial
contracts
based
on
an
underlying
or
notional
amount,
require
no
initial
investment
or
an
initial
net
investment
that
is
smaller
than
would
normally
be
required
to
have
a
similar
response
to
changes
in
market
factors,
and
require
or
permit
net
settlement.
Derivatives
contain
various
risks
including
the
potential
inability
of
the
counterparty
to
fulfill
their
obligations
under
the
terms
of
the
contract,
the
potential
for
an
illiquid
secondary
market,
and/or
the
potential
for
market
movements
which
expose
the
Fund
to
gains
or
losses
in
excess
of
the
amounts
shown
in
the
Statement
of
Assets
and
Liabilities.
Realized
gain
and
loss
and
unrealized
appreciation
and
depreciation
on
these
contracts
for
the
period
are
included
in
the
Statement
of
Operations.
Derivative
counterparty
credit
risk
is
managed
through
a
formal
evaluation
of
the
creditworthiness
of
all
potential
counterparties.
The
Fund
attempts
to
reduce
its
exposure
to
counterparty
credit
risk
on
OTC
derivatives,
whenever
possible,
by
entering
into
International
Swaps
and
Derivatives
Association
(ISDA)
master
agreements
with
certain
counterparties.
These
agreements
contain
various
provisions,
including
but
not
limited
to
collateral
requirements,
events
of
default,
or
early
termination.
Termination
events
applicable
to
the
counterparty
include
certain
deteriorations
in
the
credit
quality
of
the
counterparty.
Termination
events
applicable
to
the
Fund
include
failure
of
the
Fund
to
maintain
certain
net
asset
levels
and/or
limit
the
decline
in
net
assets
over
various
periods
of
time.
In
the
event
of
default
or
early
termination,
the
ISDA
master
agreement
gives
the
non-defaulting
party
the
right
to
net
and
close-out
all
transactions
traded,
whether
or
not
arising
under
the
ISDA
agreement,
to
one
net
amount
payable
by
one
counterparty
to
the
other.
However,
absent
an
event
of
default
or
early
termination,
OTC
derivative
assets
and
liabilities
are
presented
gross
and
not
offset
in
the
Statement
of
Assets
and
Liabilities.
Early
termination
by
the
counterparty
may
result
in
an
immediate
payment
by
the
Fund
of
any
net
liability
owed
to
that
counterparty
under
the
ISDA
agreement.
Collateral
requirements
differ
by
type
of
derivative.
Collateral
or
initial
margin
requirements
are
set
by
the
broker
or
exchange
clearing
house
for
exchange
traded
and
centrally
cleared
derivatives.
Initial
margin
deposited
is
held
at
the
exchange
or
at
the
broker and
can
be
in
the
form
of
cash
and/or
securities.
For
OTC
derivatives
traded
under
an
ISDA
master
agreement,
posting
of
collateral
is
required
by
either
the
Fund
or
the
applicable
counterparty
if
the
total
net
exposure
of
all
OTC
derivatives
with
the
applicable
counterparty
exceeds
the
minimum
transfer
amount,
which
typically
ranges
from
$100,000
to
$250,000,
and
can
vary
depending
on
the
counterparty
and
the
type
of agreement.
Generally,
collateral
is
determined
at
the
close
of
Fund
business
each
day
and
any
additional
collateral
required
due
to
changes
in
derivative
values
may
be
delivered
by
the
Fund
or
the
counterparty
the
next
business
day,
or
within
a
few
business
days.
Collateral
pledged
and/or
received
by
the
Fund
for
OTC
derivatives,
if
any,
is
held
in
segregated
accounts
with
the
Fund's
custodian/counterparty
broker
and
can
be
in
the
form
of
cash
and/or
securities.
Unrestricted
cash
may
be
invested
according
to
the
Fund's
investment
objectives.
To
the
extent
that
the
amounts
due
to
the
Fund
from
its
counterparties
are
not
subject
to
collateralization
or
are
not
fully
collateralized,
the
Fund
bears
the
risk
of
loss
from
counterparty
non-performance.
The
Fund
entered
into
exchange
traded
futures
contracts
primarily
to
manage
and/or
gain
exposure
to
interest
rate
risk.
A
futures
contract
is
an
agreement
between
the
Fund
and
a
counterparty
to
buy
or
sell
an
asset
at
a
specified
price
on
a
future
date.
Required
initial
margins
are
pledged
by
the
1.
Organization
and
Significant
Accounting
Policies
(continued)
d.
Securities
Purchased
on
a
When-Issued,
Forward Commitment or
Delayed
Delivery
Basis
and
TBA
Basis
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
46
franklintempleton.com
Semiannual
Report
Fund,
and
the
daily
change
in
fair
value
is
accounted
for
as
a
variation
margin
payable
or
receivable
in
the
Statement
of
Assets
and
Liabilities.
Futures
contracts
outstanding
at
period
end,
if
any,
are
listed
in
the
Fund's
Schedule
of
Investments.
The
Fund entered
into
OTC
forward
exchange
contracts
primarily
to
manage
and/or
gain exposure
to
certain
foreign
currencies.
A
forward
exchange
contract
is
an
agreement
between
the
Fund
and
a
counterparty
to
buy
or
sell
a
foreign
currency at
a
specific
exchange
rate
on
a
future
date.
Forward
exchange
contracts
outstanding
at
period
end,
if
any,
are
listed
in
the
Fund's
Schedule
of
Investments.
The
Fund
entered
into
credit
default
swap
contracts
primarily
to
manage
and/or
gain
exposure
to
credit
risk.
A
credit
default
swap
is
an
agreement
between
the
Fund
and
a
counterparty
whereby
the
buyer
of
the
contract
receives
credit
protection
and
the
seller
of
the
contract
guarantees
the
credit
worthiness
of
a
referenced
debt
obligation.
These
agreements
may
be
privately
negotiated
in
the
over-the-
counter
market
(OTC
credit
default
swaps)
or
may
be
executed
in
a
multilateral
trade
facility
platform,
such
as
a
registered
exchange
(centrally
cleared
credit
default
swaps).
The
underlying
referenced
debt
obligation
may
be
a
single
issuer
of
corporate
or
sovereign
debt,
a
credit
index,
a
basket
of
issuers
or
indices,
or
a
tranche
of
a
credit
index
or
basket
of
issuers
or
indices.
In
the
event
of
a
default
of
the
underlying
referenced
debt
obligation,
the
buyer
is
entitled
to
receive
the
notional
amount
of
the
credit
default
swap
contract
from
the
seller
in
exchange
for
the
referenced
debt
obligation,
a
net
settlement
amount
equal
to
the
notional
amount
of
the
credit
default
swap
less
the
recovery
value
of
the
referenced
debt
obligation,
or
other
agreed
upon
amount.
For
centrally
cleared
credit
default
swaps,
required
initial
margins
are
pledged
by
the
Fund,
and
the
daily
change
in
fair
value
is
accounted
for
as
a
variation
margin
payable
or
receivable
in
the
Statement
of
Assets
and
Liabilities.
Over
the
term
of
the
contract,
the
buyer
pays
the
seller
a
periodic
stream
of
payments,
provided
that
no
event
of
default
has
occurred.
Such
periodic
payments
are
accrued
daily
as
an
unrealized
appreciation or
depreciation
until
the
payments
are
made,
at
which
time
they
are
realized.
Upfront
payments
and
receipts
are
reflected
in
the Statement
of
Assets
and
Liabilities
and
represent
compensating
factors
between
stated
terms
of
the
credit
default
swap
agreement
and
prevailing
market
conditions
(credit
spreads
and
other
relevant
factors).
These
upfront
payments
and
receipts
are
amortized
over
the
term
of
the
contract
as
a
realized
gain
or
loss
in
the Statement
of
Operations.
Credit
default
swap
contracts
outstanding
at
period
end,
if
any,
are
listed
in
the
Fund's
Schedule
of
Investments.
The
Fund entered
into
interest
rate
swap
contracts
primarily
to
manage
interest
rate
risk.
An
interest
rate
swap
is
an
agreement
between
the
Fund
and
a
counterparty
to
exchange
cash
flows
based
on
the
difference
between
two
interest
rates,
applied
to
a
notional
amount.
These
agreements
may
be
privately
negotiated
in
the
over-the-
counter
market
(OTC
interest
rate
swaps)
or
may
be
executed
on
a
registered
exchange
(centrally
cleared
interest
rate
swaps).
For
centrally
cleared
interest
rate
swaps,
required
initial
margins
are
pledged
by
the
Fund,
and
the
daily
change
in
fair
value
is
accounted
for
as
a
variation
margin
payable
or
receivable
in
the
Statement
of
Assets
and
Liabilities.
Over
the
term
of
the
contract,
contractually
required
payments
to
be
paid
and
to
be
received
are
accrued
daily
and
recorded
as
unrealized
appreciation
or
depreciation
until
the
payments
are
made,
at
which
time
they
are
realized.
Interest
rate
swap
contracts
outstanding
at
period
end,
if
any,
are
listed
in
the
Fund's
Schedule
of
Investments.
The
Fund
purchased
or
wrote
OTC
option
contracts
primarily
to
manage
and/or
gain exposure
to
interest
rate
risk.
An
option
is
a
contract
entitling
the
holder
to
purchase
or
sell
a
specific
amount
of
shares
or
units
of
an
asset
or
notional
amount
of
a
swap
(swaption),
at
a
specified
price.
When
an
option
is
purchased
or
written,
an
amount
equal
to
the
premium
paid
or
received
is
recorded
as
an
asset
or
liability,
respectively.
Upon
exercise
of
an
option,
the
acquisition
cost
or
sales
proceeds
of
the
underlying
investment
is
adjusted
by
any
premium
received
or
paid.
Upon
expiration
of
an
option,
any
premium
received
or
paid
is
recorded
as
a
realized
gain
or
loss.
Upon
closing
an
option
other
than
through
expiration
or
exercise,
the
difference
between
the
premium
received
or
paid
and
the
cost
to
close
the
position
is
recorded
as
a
realized
gain
or
loss.
Option
contracts
outstanding
at
period
end,
if
any,
are
listed
in
the
Fund's
Schedule
of
Investments.
See
Note
8
 regarding
other
derivative
information.
1.
Organization
and
Significant
Accounting
Policies
(continued)
e.
Derivative
Financial
Instruments
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
47
franklintempleton.com
Semiannual
Report
f.
Income
and
Deferred
Taxes
It
is the Fund's
policy
to
qualify
as
a
regulated
investment
company
under
the
Internal
Revenue
Code. The Fund
intends
to
distribute
to
shareholders
substantially
all
of
its
taxable
income
and
net
realized
gains
to
relieve
it
from
federal
income
and
excise
taxes.
As
a
result,
no
provision
for
U.S.
federal
income
taxes
is
required.
The Fund
may
be
subject
to
foreign
taxation
related
to
income
received,
capital
gains
on
the
sale
of
securities
and
certain
foreign
currency
transactions
in
the
foreign
jurisdictions
in
which
it
invests.
Foreign
taxes,
if
any,
are
recorded
based
on
the
tax
regulations
and
rates
that
exist
in
the
foreign
markets
in
which
the
Fund
invests.
When
a
capital
gain
tax
is
determined
to
apply,
the
Fund
records
an
estimated
deferred
tax
liability
in
an
amount
that
would
be
payable
if
the
securities
were
disposed
of
on
the
valuation
date.
The Fund
may
recognize
an
income
tax
liability
related
to
its
uncertain
tax
positions
under
U.S.
GAAP
when
the
uncertain
tax
position
has
a
less
than
50%
probability
that
it
will
be
sustained
upon
examination
by
the
tax
authorities
based
on
its
technical
merits.
As
of
April
30,
2026, the Fund
has
determined
that
no
tax
liability
is
required
in
its
financial
statements
related
to
uncertain
tax
positions
for
any
open
tax
years
(or
expected
to
be
taken
in
future
tax
years).
The
Fund’s
federal
and
state
income
and
federal
excise
tax
returns
for
the
prior
three
fiscal
years
are
subject
to
examination
by
the
Internal
Revenue
Service
and
state
departments
of
revenue.
g.
Security
Transactions,
Investment
Income,
Expenses
and
Distributions
Security
transactions
are
accounted
for
on
trade
date.
Realized
gains
and
losses
on
security
transactions
are
determined
on
a
specific
identification basis.
Interest
income
(including
interest
income
from
payment-in-kind
securities,
if
any)
and
estimated
expenses
are
accrued
daily.
Amortization
of
premium
and
accretion
of
discount
on
debt
securities
are
included
in
interest
income.
Paydown
gains
and
losses
are
recorded
as
an
adjustment
to
interest
income.
Dividend
income
is recorded
on
the
ex-dividend
date.
Distributions
to
shareholders
are
recorded
on
the
ex-dividend
date.
Distributable
earnings are
determined
according
to
income
tax
regulations
(tax
basis)
and
may
differ
from
earnings recorded
in
accordance
with
U.S.
GAAP.
These
differences
may
be
permanent
or
temporary.
Permanent differences
are
reclassified
among
capital
accounts
to
reflect
their
tax
character.
These reclassifications
have
no
impact
on
net
assets
or
the
results
of
operations.
Temporary
differences are
not
reclassified,
as
they
may
reverse
in
subsequent
periods.
Realized
and
unrealized
gains
and
losses
and
net
investment
income,
excluding
class
specific
expenses,
are
allocated
daily
to
each
class
of
shares
based
upon
the
relative
proportion
of
net
assets
of
each
class.
Differences
in
per
share
distributions
by
class
are
generally
due
to
differences
in
class
specific
expenses.
h.
Accounting
Estimates
The
preparation
of
financial
statements
in
accordance
with
U.S.
GAAP
requires
management
to
make
estimates
and
assumptions
that
affect
the
reported
amounts
of
assets
and
liabilities
at
the
date
of
the
financial
statements
and
the
amounts
of
income
and
expenses
during
the
reporting
period.
Actual
results
could
differ
from
those
estimates.
i.
Guarantees
and
Indemnifications
Under
the Fund's
organizational
documents,
its
officers
and trustees
are
indemnified
by
the
Fund against
certain
liabilities
arising
out
of
the
performance
of
their
duties
to
the
Fund.
Additionally,
in
the
normal
course
of
business,
the
Fund
enters
into
contracts
with
service
providers
that
contain
general
indemnification
clauses.
The Fund's
maximum
exposure
under
these
arrangements
is
unknown
as
this
would
involve
future
claims
that
may
be
made
against
the Fund
that
have
not
yet
occurred.
Currently,
the Fund
expects
the
risk
of
loss
to
be
remote.
1.
Organization
and
Significant
Accounting
Policies
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
48
franklintempleton.com
Semiannual
Report
2.
Shares
of
Beneficial
Interest
At
April
30,
2026,
there
were
an
unlimited
number
of
shares
authorized
(without
par
value).
Transactions
in
the
Fund's
shares
were
as
follows:
Six
Months
Ended
April
30,
2026
Year
Ended
October
31,
2025
Shares
Amount
Shares
Amount
Class
A
Shares:
Shares
sold
a
...................................
914,397
$9,213,114
1,212,324
$12,201,914
Shares
issued
in
reinvestment
of
distributions
..........
105,394
1,060,335
349,001
3,483,953
Shares
redeemed
...............................
(887,416)
(8,942,920)
(2,232,585)
(22,445,064)
Net
increase
(decrease)
..........................
132,375
$1,330,529
(671,260)
$(6,759,197)
Class
C
Shares:
Shares
sold
...................................
26,215
$263,400
6,410
$64,247
Shares
issued
in
reinvestment
of
distributions
..........
1,956
19,585
7,993
79,266
Shares
redeemed
a
..............................
(13,951)
(139,966)
(55,186)
(551,003)
Net
increase
(decrease)
..........................
14,220
$143,019
(40,783)
$(407,490)
Class
R
Shares:
Shares
sold
...................................
6,097
$61,436
17,405
$173,851
Shares
issued
in
reinvestment
of
distributions
..........
1,532
15,402
5,661
56,421
Shares
redeemed
...............................
(9,560)
(97,072)
(39,643)
(396,014)
Net
increase
(decrease)
..........................
(1,931)
$(20,234)
(16,577)
$(165,742)
Class
R5
Shares:
Shares
sold
...................................
1,530
$15,418
2,851
$28,523
Shares
issued
in
reinvestment
of
distributions
..........
81
812
237
2,375
Shares
redeemed
...............................
(626)
(6,308)
(2,686)
(27,018)
Net
increase
(decrease)
..........................
985
$9,922
402
$3,880
Class
R6
Shares:
Shares
sold
...................................
209,316
$2,107,319
639,386
$6,435,925
Shares
issued
in
reinvestment
of
distributions
..........
24,983
251,121
75,174
749,845
Shares
redeemed
...............................
(255,175)
(2,566,515)
(963,313)
(9,627,961)
Net
increase
(decrease)
..........................
(20,876)
$(208,075)
(248,753)
$(2,442,191)
Class
Y
Shares:
Shares
sold
...................................
1,254,434
$12,621,624
2,589,837
$25,954,142
Shares
issued
in
reinvestment
of
distributions
..........
216,744
2,179,241
656,271
6,550,309
Shares
redeemed
...............................
(1,138,317)
(11,469,264)
(2,509,060)
(25,149,181)
Net
increase
(decrease)
..........................
332,861
$3,331,601
737,048
$7,355,270
a
May
include
a
portion
of
Class
C
shares
that
were
automatically
converted
to
Class
A.
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
49
franklintempleton.com
Semiannual
Report
3.
Transactions
with
Affiliates
Franklin
Resources,
Inc.
is
the
holding
company
for
various
subsidiaries
that
together
are
referred
to
as
Franklin
Templeton.
Certain
officers
and trustees
of
the Fund are
also
officers
and/or directors
of
the
following
subsidiaries:
a.
Management
Fees
The
Fund
pays Advisers
a
management
fee
(based
on
the
Fund’s
average
net
assets
and
computed
and
paid
monthly)
at
annual
rates
that
may
vary
based
on
the
average
of
the
aggregate
net
assets
of
all
open-end
mutual
funds
sponsored
by
Putnam
Management
(including
open-end
funds
managed
by
affiliates
of
Putnam
Management
that
have
been
deemed
to
be
sponsored
by
Putnam
Management
for
this
purpose)
(excluding
net
assets
of
such
funds
that
are
invested
in,
or
that
are
invested
in
by,
other
such
funds
to
the
extent
necessary
to
avoid
“double
counting”
of
those
assets).
Such
annual
rates
may
vary
as
follows:
For
the
period
ended
April
30,
2026,
the
annualized
gross
effective
investment
management
fee
rate
was 0.518%
of
the
Fund’s
average daily
net
assets.
Advisers
retained
Putnam
Management
as
subadvisor
for
the
Fund.
Pursuant
to
the
agreement,
Putnam
Management
provides
certain
advisory
and
related
services
to
the
Fund.
Advisers
pays
a
monthly
fee
to
Putnam
Management
based
on
the
costs
of
Putnam
Management
in
providing
these
services
to
the
Fund,
which
may
include
a
mark-up
not
to
exceed
15%
over
such
costs.
Under
a
subadvisory
agreement,
FTIML
provides
subadvisory
services
to
the
Fund.
The
subadvisory
fee
is
paid by Advisers
based
on
the
average
net
assets
managed
by
FTIML,
and
is
not
an
additional
expense
of
the
Fund.
b.
Administrative
Fees
Under
an
agreement
with
Advisers,
FT
Services
provides
administrative
services
to
the
Fund.
The
fee
is
paid
by Advisers
based
on
the Fund's
average
daily
net
assets,
and
is
not
an
additional
expense
of
the
Fund.
Subsidiary
Affiliation
Franklin
Advisers,
Inc.
(Advisers)
Investment
manager
Putnam
Investment
Management,
LLC
(Putnam
Management)
Subadvisor
Franklin
Templeton
Investment
Management
Limited
(FTIML)
Subadvisor
Franklin
Templeton
Services,
LLC
(FT
Services)
Administrative
manager
Franklin
Distributors,
LLC
(Distributors)
Principal
underwriter
Putnam
Investor
Services,
Inc.
(PSERV)
Transfer
agent
Annualized
Fee
Rate
Net
Assets
0.700%
of
the
first
$5
billion,
0.650%
of
the
next
$5
billion,
0.600%
of
the
next
$10
billion,
0.550%
of
the
next
$10
billion,
0.500%
of
the
next
$50
billion,
0.480%
of
the
next
$50
billion,
0.470%
of
the
next
$100
billion
and
0.465%
of
any
excess
thereafter.
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
50
franklintempleton.com
Semiannual
Report
The
Fund
reimburses
Advisers
an
allocated
amount
for
the
compensation
and
related
expenses
of
certain
officers
of
the
Fund
and
their
staff
who
provide
administrative
services
to
the
Fund.
The
aggregate
amount
of
all
such
reimbursements
is
determined
annually
by
the
Trustees.
c.
Distribution
Fees
The
Fund
has
adopted
distribution
plans
(the
Plans)
with
respect
to
the
following
share
classes
pursuant
to
Rule
12b–1
under
the
1940
Act.
The
purpose
of
the
Plans
is
to
compensate
Distributors
for
services
provided
and
expenses
incurred
in
distributing
shares
of
the
Fund.
The
Plans
provide
payments
by
the
Fund
to
Distributors
at
an
annual
rate
of
up
to
the
following
amounts
(Maximum
%)
of
the
average
net
assets
attributable
to
each
class.
The
Trustees
have
approved
payment
by
the
Fund
at
the
following
annual
rate
(Approved
%)
of
the
average
net
assets
attributable
to
each
class.
d.
Sales
Charges/Underwriting
Agreements
Front-end
sales
charges
and
contingent
deferred
sales
charges
(CDSC)
do
not
represent
expenses
of
the
Fund.
These
charges
are
deducted
from
the
proceeds
of
sales
of
fund
shares
prior
to
investment
or
from
redemption
proceeds
prior
to
remittance,
as
applicable.
Distributors
has
advised
the
Fund
of
the
following
commission
transactions
related
to
the
sales
and
redemptions
of
the
Fund's
shares
for
the
period:
e.
Transfer
Agent
Fees
PSERV,
an
affiliate
of
Advisers,
provides
investor
servicing
agent
functions
to
the
Fund.
PSERV
received
fees
for
investor
servicing
for
Class
A,
Class
C, Class
R and
Class
Y
shares
that
included
(1)
a
per
account
fee
for
each
direct
and
underlying
non-defined
contribution
account
(retail
account)
of
the
Fund;
(2)
a
specified
rate
of
the
Fund’s
assets
attributable
to
defined
contribution
plan
accounts;
and
(3)
a
specified
rate
based
on
the
average
net
assets
in
retail
accounts.
PSERV
has
agreed
that
the
aggregate
investor
servicing
fees
for
each
Fund’s
retail
and
defined
contribution
accounts
for
these
share
classes
will
not
exceed
an
annual
rate
of
0.25%
of the
Fund’s
average
assets
attributable
to
such
accounts.
Class
R5
shares
paid
a
monthly
fee
based
on
the
average
net
assets
of
Class
R5
shares
at
an
annual
rate
of
0.12%.
Class
R6
shares
paid
a
monthly
fee
based
on
the
average
net
assets
of
Class
R6
shares
at
an
annual
rate
of
0.05%.
f.
Trustee
Fees
The
Fund
has
adopted
a
Trustee
Fee
Deferral
Plan
(the
Deferral
Plan)
which
allows
the
Trustees to
defer
the
receipt
of
all
or
a
portion
of
Trustees'
fees
payable
from
July
1,
1995
through
December
31,
2023.
The
deferred
fees
remain
invested
in
certain
Putnam
funds
until
distribution
in
accordance
with
the
Deferral
Plan.
The
Fund
has
adopted
an
unfunded
noncontributory
defined
benefit
pension
plan
(the
Pension
Plan)
covering
all
Trustees
of
the
Fund
who
have
served
as
a
Trustee
for
at
least
five
years
and
were
first
elected
prior
to
2004.
Benefits
under
the
Pension
Plan
are
equal
to
50%
of
the
Trustee's
average
annual
attendance
and
retainer
fees
for
the
three
years
ended
December
31,
Maximum
%
Approved
%
Class
A
...................................................................
0.35%
0.25%
Class
C
...................................................................
1.00%
1.00%
Class
R
...................................................................
1.00%
0.50%
Sales
charges
retained
net
of
commissions
paid
to
unaffiliated
brokers/dealers
..............................
$1,482
CDSC
retained
..............................................................................
$45
3.
Transactions
with
Affiliates
(continued)
b.
Administrative
Fees
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
51
franklintempleton.com
Semiannual
Report
2005.
The
retirement
benefit
is
payable
during
a
Trustee's
lifetime,
beginning
the
year
following
retirement,
for
the
number
of
years
of
service
through
December
31,
2006.
Pension
expense
for
the
Fund
is
included
in
the
Trustees' fees
and
expenses
in
the
Statement
of
Operations.
Accrued
pension
liability
is
included
in
Payable
for
Trustees' fees
and
expenses
in
the
Statement
of
Assets
and
Liabilities.
The
Trustees
have
terminated
the
Pension
Plan
with
respect
to
any
Trustee
first
elected
after
2003.
g.
Investments
in
Affiliated
Management
Investment
Companies
The
Fund
invests
in
one
or
more
affiliated
management
investment
companies.
As
defined
in
the
1940
Act,
an
investment
is
deemed
to
be
a
“Controlled
Affiliate”
of
a
fund
when
a
fund
owns,
either
directly
or
indirectly,
25%
or
more
of
the
affiliated
fund’s
outstanding
shares
or
has
the
power
to
exercise
control
over
management
or
policies
of
such
fund.
The
Fund
does
not
invest
for
purposes
of
exercising
a
controlling
influence
over
the
management
or
policies.
Management
fees
paid
by
the
Fund
are
waived
on
assets
invested
in
the
affiliated
management
investment
companies,
as
noted
in
the
Statement
of
Operations,
in
an
amount
not
to
exceed
the
management
and
administrative
fees,
if
applicable, paid
directly
or
indirectly
by
each
affiliate.
During
the
period
ended
April
30,
2026,
the
Fund
held
investments
in
affiliated
management
investment
companies
as
follows:
h.
Waiver
and
Expense
Reimbursements
Advisers
has
contractually
agreed,
through
February
28,
2027,
to
waive
fees
and/or
reimburse
the
Fund’s
expenses
to
the
extent
necessary
to
limit
the
cumulative
expenses
of
the
Fund,
exclusive
of
brokerage,
interest,
taxes,
investment-related
expenses,
extraordinary
expenses,
acquired
fund
fees
and
expenses
and
payments
under
the
Fund’s
investor
servicing
contract,
investment
management
contract
and
distribution
plans,
on
a
fiscal
year-to-date
basis
to
an
annual
rate
of
0.20%
of
the
Fund’s
average
net
assets
over
such
fiscal
year-to-date
period.
Total
expenses
waived
or
paid
are
not
subject
to
recapture
subsequent
to
the
Fund’s
fiscal
year
end.
Advisers
has
also
contractually
agreed
to
waive
fees
(and,
to
the
extent
necessary,
bear
other
expenses)
of
the
Fund
through
February
28,
2027,
to
the
extent
that
total
expenses
of
the
Fund
(excluding
brokerage,
interest,
taxes,
investment-related
expenses,
payments
under
distribution
plans,
extraordinary
expenses,
payments
under
the
Fund’s
investor
servicing
contract
and
acquired
fund
fees
and
expenses,
but
including
payments
under
the
Fund’s
investment
management
contract)
would
exceed
an
annual
rate
of
0.43%
of
the
Fund’s
average
net
assets.
Total
expenses
waived
or
paid
are
not
subject
to
recapture
subsequent
to
the
Fund’s
fiscal
year
end.
4.
Expense
Offset
Arrangement
The Fund has entered
into
an arrangement
with PSERV
whereby
credits
realized
as
a
result
of
uninvested
cash
balances
are
used
to
reduce
a
portion
of
the
Fund's
transfer
agent
fees.
During
the
period
ended
April
30,
2026,
the
fees
were
reduced
as
noted
in
the
Statement
of
Operations. 
    aa
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares
Held
at
End
of
Period
Investment
Income
a      
a  
a  
a  
a  
a  
a  
a  
Putnam
Global
Income
Trust
Non-Controlled
Affiliates
Dividends
Franklin
Ultra
Short
Bond
ETF
.
$5,448,329
$—
$—
$—
$(13,034)
$5,435,295
217,238
$114,167
Putnam
Short
Term
Investment
Fund,
Class
P,
3.843%
......
4,110,047
25,708,261
(24,715,286)
—
—
5,103,022
5,103,022
190,183
Total
Affiliated
Securities
...
$9,558,376
$25,708,261
$(24,715,286)
$—
$(13,034)
$10,538,317
$304,350
3.
Transactions
with
Affiliates
(continued)
f.
Trustee
Fees
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
52
franklintempleton.com
Semiannual
Report
5.
Income
Taxes
For
tax
purposes,
capital
losses
may
be
carried
over
to
offset
future
capital
gains.
At
October
31,
2025,
the
capital
loss
carryforwards
were
as
follows:
At
April
30,
2026,
the
cost
of
investments
and
net
unrealized
appreciation
(depreciation) for
income
tax
purposes
were
as
follows:
Differences
between
income
and/or
capital
gains
as
determined
on
a
book
basis
and
a
tax
basis
are
primarily
due
to
differing
treatments
of
defaulted
securities,
foreign
currency
transactions,
wash
sales
and
derivative
financial
instruments.
6.
Investment
Transactions
Purchases
and
sales
of
investments (excluding
short
term
securities) for
the
period
ended
April
30,
2026,
aggregated
$341,565,168 and
$422,828,009,
respectively. 
7.
Credit
Risk
At
April
30,
2026,
the
Fund
had 
5.5%
 of
its
portfolio
invested
in
high
yield
securities
rated
below
investment
grade
and
unrated
securities.
These
securities
may
be
more
sensitive
to
economic
conditions
causing
greater
price
volatility
and
are
potentially
subject
to
a
greater
risk
of
loss
due
to
default
than
higher
rated
securities.
Capital
loss
carryforwards
not
subject
to
expiration:
Short
term
................................................................................
$
14,314,012
Long
term
................................................................................
14,929,100
Total
capital
loss
carryforwards
...............................................................
$29,243,112
Cost
of
investments
..........................................................................
$252,750,773
Unrealized
appreciation
........................................................................
$6,220,622
Unrealized
depreciation
........................................................................
(16,420,485)
Net
unrealized
appreciation
(depreciation)
..........................................................
$(10,199,863)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
53
franklintempleton.com
Semiannual
Report
8.
Other
Derivative
Information
At
April
30,
2026,
investments
in
derivative
contracts
are
reflected
in
the Statement of
Assets
and
Liabilities
as
follows:
Asset
Derivatives
Liability
Derivatives
Derivative
Contracts
Not
Accounted
for
as
Hedging
Instruments
Statement
of
Assets
and
Liabilities
Location
Fair
Value
Statement
of
Assets
and
Liabilities
Location
Fair
Value
Putnam
Global
Income
Trust
Interest
rate
contracts
.......
Variation
margin
on
futures
contracts
$
112,823
a
Variation
margin
on
futures
contracts
$
720,978
a
Variation
margin
on
centrally
cleared
swap
contracts
613,642
a
Variation
margin
on
centrally
cleared
swap
contracts
152,886
a
Unrealized
appreciation
on
forward
premium
swap
option
contracts
607,947
Unrealized
depreciation
on
forward
premium
swap
option
contracts
652,171
Foreign
exchange
contracts
..
Unrealized
appreciation
on
OTC
forward
exchange
contracts
1,080,180
Unrealized
depreciation
on
OTC
forward
exchange
contracts
1,018,754
Credit
contracts
............
Variation
margin
on
centrally
cleared
swap
contracts
20,357
a
Variation
margin
on
centrally
cleared
swap
contracts
26,249
a
OTC
swap
contracts
(upfront
payments)
1,311
OTC
swap
contracts
(upfront
receipts)
3,756
Unrealized
appreciation
on
OTC
swap
contracts
3,154
Unrealized
depreciation
on
OTC
swap
contracts
709
Total
....................
$2,439,414
$2,575,503
a
This
amount
reflects
the
cumulative
appreciation
(depreciation)
of
futures
contracts
and
centrally
cleared
swap
contracts
as
reported
in
the
Schedule
of
Investments.
Only
the
variation
margin
receivable/payable
at
period
end
is
separately
reported
within
the
Statement
of
Assets
and
Liabilities.
Prior
variation
margin
movements
were
recorded
to
cash
upon
receipt
or
payment.
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
54
franklintempleton.com
Semiannual
Report
For
the
period
ended
April
30,
2026,
the
effect
of
derivative
contracts
in
the Statement
of
Operations
was
as
follows:
For
the
period
ended
April
30,
2026
,
the
average
month
end
notional
amount
of
futures
contracts,
swap
contracts
and
options,
and
the
average month
end
contract
value
for forward
exchange
contracts,
were as
follows:
At
April
30,
2026,
the
Fund's
OTC
derivative
assets
and
liabilities
are
as
follows:
Derivative
Contracts
Not
Accounted
for
as
Hedging
Instruments
Statement
of
Operations
Location
Net
Realized
Gain
(Loss)
for
the
Period
Statement
of
Operations
Location
Net
Change
in
Unrealized
Appreciation
(Depreciation)
for
the
Period
Putnam
Global
Income
Trust
Net
realized
gain
(loss)
from:
Net
change
in
unrealized
  appreciation
(depreciation)
on:
Interest
rate
contracts
..........
Futures
contracts
$633,118
Futures
contracts
$(1,051,289)
Swap
contracts
(846,185)
Swap
contracts
613,011
Forward
premium
swap
option
contracts
(44,507)
Forward
premium
swap
option
contracts
117,452
Foreign
exchange
contracts
.....
Forward
exchange
contracts
887,412
Forward
exchange
contracts
(473,320)
Credit
contracts
...............
Swap
contracts
26
Swap
contracts
(5,892)
Total
.......................
$629,864
$(800,038)
Putnam
Global
Income
Trust
Futures
contracts
............................................................................
$32,915,369
Swap
contracts
..............................................................................
137,849,677
Forward
exchange
contracts
....................................................................
125,917,006
Options
....................................................................................
74,913,550
Gross
Amounts
of
Assets
and
Liabilities
Presented
in
the
Statement
of
Assets
and
Liabilities
Assets
a
Liabilities
a
Putnam
Global
Income
Trust
Forward
Exchange
Contracts
.............................
$
1,080,180
$
1,018,754
Forward
Premium
Swap
Option
Contracts
...................
607,947
652,171
Swap
Contracts
.......................................
4,465
4,465
Total
.............................................
$1,692,592
$1,675,390
a
Absent
an
event
of
default
or
early
termination,
OTC
derivative
assets
and
liabilities
are
presented
gross
and
not
offset
in
the
Statement
of
Assets
and
Liabilities.
8.
Other
Derivative
Information
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
55
franklintempleton.com
Semiannual
Report
At
April
30,
2026,
OTC
derivative
assets,
which
may
be
offset
against
the
Fund's
OTC
derivative
liabilities
and
collateral
received
from
the
counterparty,
are
as
follows:
Amounts
Not
Offset
in
the
Statement
of
Assets
and
Liabilities
Gross
Amounts
of
Assets
Presented
in
the
Statement
of
Assets
and
Liabilities
Financial
Instruments
Available
for
Offset
Financial
Instruments
Collateral
Received
a,b
Cash
Collateral
Received
b
Net
Amount
(Not
less
than
zero)
Putnam
Global
Income
Trust
Counterparty
BOFA
....................
$
27,900
$
(27,900)
$
—
$
—
$
—
BZWS
...................
2,318
(2,318)
—
—
—
CITI
.....................
15,591
(15,591)
—
—
—
DBAB
...................
—
—
—
—
—
GSCO
...................
11,675
(11,675)
—
—
—
HSBK
...................
595,902
(595,902)
—
—
—
JPHQ
...................
510,774
(247,230)
(123,544)
(140,000)
—
MCM
....................
2,610
(2,610)
—
—
—
MLCO
...................
1,311
(709)
—
—
602
MSCO
...................
128,891
(78,041)
—
(50,850)
—
NATW
...................
—
—
—
—
—
SSBT
....................
40,448
(21,941)
—
—
18,507
TDOM
...................
5,579
(5,579)
—
—
—
UBSW
...................
190,928
(108,996)
(81,932)
—
—
WPAC
...................
158,665
(80,622)
—
—
78,043
Total
...................
$1,692,592
$(1,199,114)
$(205,476)
$(190,850)
$97,152
$
1
8.
Other
Derivative
Information
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
56
franklintempleton.com
Semiannual
Report
At
April
30,
2026,
OTC
derivative
liabilities,
which
may
be
offset
against
the
Fund's
OTC
derivative
assets
and
collateral
pledged
to
the
counterparty,
are
as
follows:
See
Note
1(e) regarding
derivative
financial
instruments. 
See
Abbreviations
on
page
59
.
9.
Upcoming
Reorganization
On
May
21,
2026,
the
Board
approved
a
proposal
to
reorganize
the
Fund
with
and
into
Putnam
Diversified
Income
Trust.
Upon
completion
of
the
reorganization
on
or
about
August
31,
2026,
assets
in
the
Fund
will
be
transferred
into
Putnam
Diversified
Income
Trust.
Amounts
Not
Offset
in
the
Statement
of
Assets
and
Liabilities
Gross
Amounts
of
Liabilities
Presented
in
the
Statement
of
Assets
and
Liabilities
Financial
Instruments
Available
for
Offset
Financial
Instruments
Collateral
Pledged
b,c
Cash
Collateral
Pledged
Net
Amount
(Not
less
than
zero)
Putnam
Global
Income
Trust
Counterparty
BOFA
....................
$
279,158
$
(27,900)
$
(251,258)
$
—
$
—
BZWS
...................
6,909
(2,318)
—
—
4,591
CITI
.....................
48,007
(15,591)
(20,841)
—
11,575
DBAB
...................
2,442
—
(2,442)
—
—
GSCO
...................
128,363
(11,675)
(116,115)
—
573
HSBK
...................
639,694
(595,902)
(43,792)
—
—
JPHQ
...................
247,230
(247,230)
—
—
—
MCM
....................
4,626
(2,610)
—
—
2,016
MLCO
...................
709
(709)
—
—
—
MSCO
...................
78,041
(78,041)
—
—
—
NATW
...................
17,462
—
—
—
17,462
SSBT
....................
21,941
(21,941)
—
—
—
TDOM
...................
11,190
(5,579)
—
—
5,611
UBSW
...................
108,996
(108,996)
—
—
—
WPAC
...................
80,622
(80,622)
—
—
—
Total
...................
$1,675,390
$(1,199,114)
$(434,448)
$—
$41,828
a
At
April
30,
2026,
the
Fund
received
U.S
Treasury
Bills,
Bonds
and
Notes
as
collateral
for
derivatives.
b
In
some
instances,
the
collateral
amounts
disclosed
in
the
table
above
were
adjusted
due
to
the
requirement
to
limit
the
collateral
amounts
to
avoid
the
effect
of
over
collateralization.
Actual
collateral
received
and/or
pledged
may
be
more
than
the
amounts
disclosed
herein.
c
See
the
accompanying
Schedule
of
Investments
for
securities
pledged
as
collateral
for
derivatives.
8.
Other
Derivative
Information
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
57
franklintempleton.com
Semiannual
Report
10.
Credit
Facility
The
Fund,
together
with
other
U.S.
registered
and
foreign
investment
funds
(collectively,
Borrowers),
managed
by
Franklin
Templeton,
are
borrowers
in
a
joint
syndicated
senior
unsecured
credit
facility
totaling
$2.995
billion
(Global
Credit
Facility)
which
matures
on
January
29,
2027.
This
Global
Credit
Facility
provides
a
source
of
funds
to
the
Borrowers
for
temporary
and
emergency
purposes,
including
the
ability
to
meet
future
unanticipated
or
unusually
large
redemption
requests.
Under
the
terms
of
the
Global
Credit
Facility,
the
Fund
may,
in
addition
to
interest
charged
on
any
borrowings
made
by
the
Fund
and
other
costs
incurred
by
the
Fund,
pay
its
share
of
fees
and
expenses
incurred
in
connection
with
the
implementation
and
maintenance
of
the
Global
Credit
Facility,
based
upon
its
relative
share
of
the
aggregate
net
assets
of
all
of
the
Borrowers,
including
an
annual
commitment
fee
of
0.15%
based
upon
the
unused
portion
of
the
Global
Credit
Facility.
These
fees
are
reflected
in
other
expenses
in
the
Statement
of
Operations.
During
the
period
ended
April
30,
2026,
the Fund
did
not
use
the
Global
Credit
Facility.
11.
Fair
Value
Measurements
The
Fund
follows
a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the Fund's
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Fund's financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
Level
3
–
significant
unobservable
inputs
(including
the
Fund's
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
A
summary
of
inputs
used
as
of
April
30,
2026,
in
valuing
the
Fund's assets
and
liabilities carried
at
fair
value,
is
as
follows:
Level
1
Level
2
Level
3
Total
Putnam
Global
Income
Trust
Assets:
Investments
in
Securities:
a
Management
Investment
Companies
.........
$
5,435,295
$
—
$
—
$
5,435,295
Corporate
Bonds
........................
—
72,441,266
—
72,441,266
Foreign
Government
and
Agency
Securities
....
—
67,733,773
—
67,733,773
Asset-Backed
Securities
...................
—
15,183,292
—
15,183,292
Commercial
Mortgage-Backed
Securities
......
—
10,354,845
—
10,354,845
Mortgage-Backed
Securities
................
—
39,739,343
—
39,739,343
Residential
Mortgage-Backed
Securities
.......
—
15,100,637
—
15,100,637
Agency
Commercial
Mortgage-Backed
Securities
—
13,042,803
—
13,042,803
Short
Term
Investments
...................
5,103,022
1,587,904
—
6,690,926
Total
Investments
in
Securities
...........
$10,538,317
$235,183,863
$—
$245,722,180
Other
Financial
Instruments:
Forward
Exchange
Contracts
...............
$—
$1,080,180
$—
$1,080,180
Forward
Premium
Swap
Option
Contracts
.....
—
607,947
—
607,947
Futures
Contracts
.......................
112,823
—
—
112,823
Swap
Contracts
.........................
—
637,153
—
637,153
Total
Other
Financial
Instruments
.........
$112,823
$2,325,280
$—
$2,438,103
–
–
–
–
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
58
franklintempleton.com
Semiannual
Report
12.
Operating
Segments
The Fund operates
as
a
single
operating
segment,
which
is
an
investment
portfolio.
The
portfolio
managers
assigned
to
the
Fund
within
the
Fund’s
investment
manager serve
as
the
Chief
Operating
Decision
Maker
(“CODM”)
and
are
responsible
for
evaluating
the
Fund's
operating
results
and
allocating
resources
in
accordance
with
the
Fund’s
investment
strategy.
Internal
reporting
provided
to
the
CODM
aligns
with
the
accounting
policies
and
measurement
principles
used
in
the financial
statements.
For
information
regarding
segment
assets,
segment
profit
or
loss,
and
significant
expenses,
refer
to
the Statement
of
Assets
and
Liabilities
and
the Statement
of
Operations,
along
with
the
related
notes
to
the financial
statements.
The Schedule
of
Investments
provides
details
of
the Fund's investments
that
generate
returns
such
as
interest,
dividends,
and
realized
and
unrealized
gains
or
losses.
Performance
metrics,
including
portfolio
turnover
and
expense
ratios,
are
disclosed
in
the Financial
Highlights. 
13.
Subsequent
Events
The Fund
has
evaluated
subsequent
events
through
the
issuance
of
the
financial
statements
and
determined
that
no
events
have
occurred
that
require
disclosure
other
than
those
already
disclosed
in
the
financial
statements.
Level
1
Level
2
Level
3
Total
Putnam
Global
Income
Trust
(continued)
Liabilities:
Other
Financial
Instruments:
TBA
Sale
Commitments
...................
$
—
$
3,061,572
$
—
$
3,061,572
Forward
Exchange
Contracts
...............
—
1,018,754
—
1,018,754
Forward
Premium
Swap
Option
Contracts
......
—
652,171
—
652,171
Futures
Contracts
........................
720,978
—
—
720,978
Swap
Contracts
.........................
—
179,844
—
179,844
Total
Other
Financial
Instruments
.........
$720,978
$4,912,341
$—
$5,633,319
a
For
detailed
categories,
see
the
accompanying
Schedule
of
Investments.
11.
Fair
Value
Measurements
(continued)
Putnam
Global
Income
Trust
Notes
to
Financial
Statements
(unaudited)
59
franklintempleton.com
Semiannual
Report
Abbreviations
Counterparty
BOFA
Bank
of
America
NA
BZWS
Barclays
Bank
plc
CITI
Citibank
NA
DBAB
Deutsche
Bank
AG
GSCO
Goldman
Sachs
Group,
Inc.
HSBK
HSBC
Bank
plc
JPHQ
JPMorgan
Chase
Bank
NA
MCM
Mizuho
Capital
Markets
LLC
MLCO
Merrill
Lynch
International
&
Co.
MSCO
Morgan
Stanley
NATW
Natwest
Markets
plc
SSBT
State
Street
Bank
and
Trust
Co.
TDOM
Toronto
Dominion
Bank
UBSW
UBS
AG
WPAC
Westpac
Banking
Corp.
Cu
r
rency
AUD
Australian
Dollar
CAD
Canadian
Dollar
CHF
Swiss
Franc
CNY
Chinese
Yuan
DKK
Danish
Krone
EUR
Euro
GBP
British
Pound
JPY
Japanese
Yen
KRW
South
Korean
Won
MXN
Mexican
Peso
MYR
Malaysian
Ringgit
NOK
Norwegian
Krone
NZD
New
Zealand
Dollar
PLN
Polish
Zloty
SEK
Swedish
Krona
THB
Thai
Baht
Index
CDX.NA.IG.
Series
number
CDX
North
America
Investment
Grade
Index
CMBX.NA.
Series
number
CMBX
North
America
Index
Selected
Portfolio
AUD
BBR
Australian
Bank
Bill
Rate
CLO
Collateralized
Loan
Obligation
CMT
Constant
Monthly
U.S.
Treasury
Securities
Yield
Curve
Rate
Index
CORRA
Canadian
Overnight
Repo
Rate
Average
ETF
Exchange-Traded
Fund
EURIBOR
Euro
Inter-Bank
Offer
Rate
FHLMC
Federal
Home
Loan
Mortgage
Corp.
FNMA
Federal
National
Mortgage
Association
FRN
Floating
Rate
Note
GNMA
Government
National
Mortgage
Association
IO
Interest
Only
NIBOR
Norwegian
Interbank
Offered
Rate
PIK
Payment-In-Kind
REIT
Real
Estate
Investment
Trust
REMIC
Real
Estate
Mortgage
Investment
Conduit
SARON
Swiss
Average
Rate
Overnight
SOFR
Secured
Overnight
Financing
Rate
SONIA
Sterling
Overnight
Index
Average
STACR
Structured
Agency
Credit
Risk
STIBOR
Stockholm
Interbank
Offered
Rate
T-Note
Treasury
Note
The
following
reference
rates,
and
their
values
as
of
period
end,
are
used
for
security
descriptions:
Reference
Index
Reference
Rate
1-day
REPO_CORRA
.................
2.30%
1-day
SARON
.......................
(0.05)%
1-day
SOFR
........................
3.66%
1-day
SONIA
........................
3.73%
1-week
CNY-Fixing
Repo
Rate
..........
1.40%
3-month
AUD
BBR
...................
4.37%
3-month
CD_KSDA
...................
2.81%
3-month
STIBOR
....................
2.09%
6-month
AUD
BBR
...................
4.77%
6-month
EURIBOR
...................
2.52%
6-month
NIBOR
.....................
4.77%
Putnam
Global
Income
Trust
60
franklintempleton.com
Semiannual
Report
Changes
In
and
Disagreements
with
Accountants
For
the
period
covered
by
this
report
Not
applicable.
Results
of
Meeting(s)
of
Shareholders
For
the
period
covered
by
this
report
Not
applicable.
Remuneration
Paid
to
Directors,
Officers
and
Others
For
the
period
covered
by
this
report
Refer
to
the
financial
statements
included
herein.
Remuneration
to
officers
is
paid
by
the
Fund’s
investment
manager
according
to
the
terms
of
the
agreement.
Board
Approval
of
Management
and
Subadvisory
Agreements
For
the
period
covered
by
this
report
Not
applicable.
38916-SFSOI
06/26
©
2026
Franklin
Templeton.
All
rights
reserved.
ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

 

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

 

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

 

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

 

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

 

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

 

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

 

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR, as applicable.

 

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

 

Not applicable.

 

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

 

Not applicable.

 

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

 

Not applicable.

 

ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

 

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees that would require disclosure herein.

 

ITEM 16. CONTROLS AND PROCEDURES.

 

(a) The Registrants acknowledge the Staff’s comment. In future filings on Form N-CSR, the certifications required by Rule 30a-2 and Item 19(a)(3) will include the designations “principal executive officer” and “principal financial officer” in the signature blocks, reflecting the capacity in which each signatory executes the certification, in conformity with the language of the Rule and Form N-CSR. The Registrants may also include each signatory’s actual title with respect to the Funds alongside the required designation.

 

(b) During the period covered by this report, the Registrant transitioned to a new third-party service provider who performs certain accounting and administrative services for the Registrant that are subject to Franklin Templeton’s oversight.

 

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

 

Not applicable.

 

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

 

(a) Not applicable.

 

(b) Not applicable.

 

ITEM 19. EXHIBITS.

 

(a) (1) Not applicable.

Exhibit 99.CODE ETH

 

(a) (3) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.CERT

 

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.906CERT

 

 

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, there unto duly authorized.

 

 

Putnam Global Income Trust

 

By: /s/ Jonathan S. Horwitz  

Jonathan S. Horwitz

Principal Executive Officer

 

Date: June 25, 2026  

 

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: /s/ Jonathan S. Horwitz  

Jonathan S. Horwitz

Principal Executive Officer

 

Date: June 25, 2026  

 

By: /s/ Jeffrey White  

Jeffrey White

Principal Financial Officer

 

Date: June 25, 2026  

 
ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

CERTIFICATIONS PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

CERTIFICATIONS PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

XBRL SCHEMA FILE

XBRL DEFINITION FILE

XBRL LABEL FILE

XBRL PRESENTATION FILE

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