N-Q 1 ft1.txt PUTNAM FUNDS TRUST Item 1. Schedule of Investments: -------------------------------- INTERNATIONAL GROWTH & INCOME FUND QUARTERLY PORTFOLIO HOLDINGS 3-31-05
International Growth & Income Fund -------------------------------------------------------------------------------------------------------------------------------- The fund's portfolio March 31, 2005 (Unaudited) Common stocks (98.1%) (a) -------------------------------------------------------------------------------------------------------------------------------- Number of shares Value -------------------------------------------------------------------------------------------------------------------------------- Aerospace and Defense (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 150,301 European Aeronautic Defense and Space Co. (Netherlands) $4,503,990 Airlines (0.8%) -------------------------------------------------------------------------------------------------------------------------------- 98,200 Deutsche Lufthansa AG (Germany) 1,419,033 1,218,063 Iberia Lineas Aereas de Espana SA (Spain) 4,083,812 -------------------------------------------------------------------------------------------------------------------------------- 5,502,845 Automotive (4.8%) -------------------------------------------------------------------------------------------------------------------------------- 56,900 Bayerische Motoren Werke (BMW) AG (Germany) 2,587,215 32,160 Hyundai Motor Co. (South Korea) 1,741,974 681,000 Nissan Motor Co., Ltd. (Japan) 6,998,494 88,360 Peugeot SA (France) 5,628,664 82,833 Renault SA (France) 7,416,498 253,100 Toyota Motor Corp. (Japan) 9,443,323 -------------------------------------------------------------------------------------------------------------------------------- 33,816,168 Banking (21.1%) -------------------------------------------------------------------------------------------------------------------------------- 368,536 ABN AMRO Holdings NV (Netherlands) 9,166,386 520,982 Allied Irish Banks PLC (Ireland) 10,933,810 45,100 Banco Itau SA ADR (Brazil) 3,659,865 305,901 Bank of Ireland (Ireland) 4,829,848 1,781,278 Barclays PLC (United Kingdom) 18,207,607 226,579 BNP Paribas SA (France) 16,091,114 124,400 Canadian Imperial Bank of Commerce (Canada) 7,544,630 226,700 Danske Bank A/S (Denmark) 6,595,635 684,000 DBS Group Holdings, Ltd. (Singapore) 6,180,848 179,000 Foreningssparbanken AB (Sweden) 4,245,441 323,458 HBOS PLC (United Kingdom) 5,041,918 1,100,446 HSBC Holdings PLC (London Exchange) (United Kingdom) 17,402,759 635,000 Joyo Bank, Ltd. (The) (Japan) 3,426,174 31,345 National Bank of Greece SA (Greece) 1,063,127 696,500 Nordea AB (Sweden) 7,072,623 622,766 Royal Bank of Scotland Group PLC (United Kingdom) 19,814,855 48,510 Societe Generale (France) 5,052,555 50,500 Unibanco-Uniao de Bancos Brasileiros SA GDR (Brazil) 1,736,190 123,500 Wing Hang Bank, Ltd. (Hong Kong) 752,170 -------------------------------------------------------------------------------------------------------------------------------- 148,817,555 Basic Materials (1.4%) -------------------------------------------------------------------------------------------------------------------------------- 159,221 Compagnie de Saint Gobain (France) 9,724,661 Beverage (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 99,677 Diageo PLC (United Kingdom) 1,404,940 80,723 Interbrew SA (Belgium) 2,833,337 -------------------------------------------------------------------------------------------------------------------------------- 4,238,277 Building Materials (0.3%) -------------------------------------------------------------------------------------------------------------------------------- 1,519,791 Adelaide Brighton, Ltd. (Australia) 1,986,180 Chemicals (1.9%) -------------------------------------------------------------------------------------------------------------------------------- 143,200 BASF AG (Germany) 10,169,731 312,000 Kaneka Corp. (Japan) 3,454,348 -------------------------------------------------------------------------------------------------------------------------------- 13,624,079 Communications Equipment (1.3%) -------------------------------------------------------------------------------------------------------------------------------- 3,352,855 Telefonaktiebolaget LM Ericsson AB Class B (Sweden) 9,475,915 Computers (1.0%) -------------------------------------------------------------------------------------------------------------------------------- 855,000 Hitachi, Ltd. (Japan) 5,324,762 60,500 Tele2 AB Class B (Sweden) 2,006,299 -------------------------------------------------------------------------------------------------------------------------------- 7,331,061 Conglomerates (1.6%) -------------------------------------------------------------------------------------------------------------------------------- 570,500 Swire Pacific, Ltd. (Hong Kong) 4,516,980 112,600 TUI AG (Germany) 2,973,298 118,069 Vivendi Universal SA (France) 3,625,567 -------------------------------------------------------------------------------------------------------------------------------- 11,115,845 Consumer Finance (0.4%) -------------------------------------------------------------------------------------------------------------------------------- 43,240 Acom Co., Ltd. (Japan) 2,931,457 Consumer Goods (0.5%) -------------------------------------------------------------------------------------------------------------------------------- 111,900 Reckitt Benckiser PLC (United Kingdom) 3,556,149 Electric Utilities (3.4%) -------------------------------------------------------------------------------------------------------------------------------- 180,246 E.On AG (Germany) 15,482,582 229,288 Iberdrola SA (Spain) 6,012,828 280,695 Scottish Power PLC (United Kingdom) 2,169,112 -------------------------------------------------------------------------------------------------------------------------------- 23,664,522 Electrical Equipment (1.3%) -------------------------------------------------------------------------------------------------------------------------------- 565,000 Brother Industries, Ltd. (Japan) 5,441,837 47,900 Siemens AG (Germany) 3,788,917 -------------------------------------------------------------------------------------------------------------------------------- 9,230,754 Electronics (3.9%) -------------------------------------------------------------------------------------------------------------------------------- 27,900 FUNAI Electric Co., Ltd. (Japan) 3,449,018 373,950 Koninklijke (Royal) Philips Electronics NV (Netherlands) 10,326,396 65,295 Micronas Semiconductor Holding AG (Switzerland) (NON) 2,734,324 241,600 Omron Corp. (Japan) 5,286,553 3,406,863 Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan) 5,576,501 -------------------------------------------------------------------------------------------------------------------------------- 27,372,792 Energy (0.2%) -------------------------------------------------------------------------------------------------------------------------------- 494,632 John Wood Group PLC (United Kingdom) 1,415,855 Engineering & Construction (1.4%) -------------------------------------------------------------------------------------------------------------------------------- 218,610 LG Engineering & Construction, Ltd. (South Korea) 6,028,245 294,200 Skanska AB Class B (Sweden) 3,572,417 -------------------------------------------------------------------------------------------------------------------------------- 9,600,662 Financial (0.8%) -------------------------------------------------------------------------------------------------------------------------------- 83,100 Sanyo Shinpan Finance Co., Ltd. (Japan) 5,657,079 Food (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 265,000 Toyo Suisan Kaisha, Ltd. (Japan) 4,150,692 Forest Products and Packaging (0.1%) -------------------------------------------------------------------------------------------------------------------------------- 25,400 Hankuk Paper Manufacturing Co., Ltd. (South Korea) 853,004 Insurance (8.9%) -------------------------------------------------------------------------------------------------------------------------------- 96,100 ACE, Ltd. (Bermuda) 3,966,047 22,702 AGF (Assurances Generales de France) (France) 1,787,776 49,000 Allianz AG (Germany) 6,238,289 333,013 Axa SA (France) 8,893,021 53,243 Hannover Rueckversicherungs AG (Germany) 2,113,732 434,107 ING Groep NV (Netherlands) 13,144,044 138,951 Swiss Re (Switzerland) 9,987,540 39,000 XL Capital, Ltd. Class A (Bermuda) 2,822,430 76,573 Zurich Financial Services AG (Switzerland) 13,488,312 -------------------------------------------------------------------------------------------------------------------------------- 62,441,191 Investment Banking/Brokerage (2.6%) -------------------------------------------------------------------------------------------------------------------------------- 327,833 Credit Suisse Group (Switzerland) 14,127,412 50,968 UBS AG (Switzerland) 4,320,047 -------------------------------------------------------------------------------------------------------------------------------- 18,447,459 Leisure (0.7%) -------------------------------------------------------------------------------------------------------------------------------- 291,700 Yamaha Motor Co., Ltd. (Japan) 5,005,325 Lodging/Tourism (0.7%) -------------------------------------------------------------------------------------------------------------------------------- 891,513 Hilton Group PLC (United Kingdom) 5,070,118 Machinery (0.5%) -------------------------------------------------------------------------------------------------------------------------------- 723,000 Kubota Corp. (Japan) 3,867,178 Manufacturing (1.0%) -------------------------------------------------------------------------------------------------------------------------------- 152,100 SKF AB Class B (Sweden) 7,139,273 Metals (2.9%) -------------------------------------------------------------------------------------------------------------------------------- 714,015 BHP Billiton PLC (United Kingdom) 9,591,816 126,300 Dofasco, Inc. (Canada) 3,722,383 108,300 JFE Holdings, Inc. (Japan) 3,028,025 133,114 Rio Tinto PLC (United Kingdom) 4,303,261 -------------------------------------------------------------------------------------------------------------------------------- 20,645,485 Natural Gas Utilities (0.8%) -------------------------------------------------------------------------------------------------------------------------------- 1,410,000 Tokyo Gas Co., Ltd. (Japan) 5,695,904 Oil & Gas (7.4%) -------------------------------------------------------------------------------------------------------------------------------- 984,862 BP PLC (United Kingdom) 10,206,478 91,700 Canadian Natural Resources, Ltd. (Canada) 5,182,384 235,850 ENI SpA (Italy) 6,154,260 53,620 Norsk Hydro ASA (Norway) 4,442,778 134,400 Petroleo Brasileiro SA ADR (Brazil) 5,937,792 1,253,875 Shell Transport & Trading Co. PLC (United Kingdom) 11,253,089 15,528 Total SA (France) 3,642,244 288,500 Vostok Nafta Investment, Ltd. (Sweden) (NON) 5,326,507 -------------------------------------------------------------------------------------------------------------------------------- 52,145,532 Pharmaceuticals (5.2%) -------------------------------------------------------------------------------------------------------------------------------- 119,900 Astellas Pharmaceutical Co., Ltd. (Japan) 4,069,918 45,197 Novartis AG (Switzerland) 2,116,476 87,332 Roche Holding AG (Switzerland) 9,395,739 316,900 Sankyo Co., Ltd. (Japan) 6,697,157 296,100 Santen Pharmaceutical Co., Ltd. (Japan) 6,368,337 239,000 Taisho Pharmaceutical Co., Ltd. (Japan) 5,095,568 294,000 Tanabe Seiyaku Co., Ltd. (Japan) 2,936,151 -------------------------------------------------------------------------------------------------------------------------------- 36,679,346 Publishing (1.1%) -------------------------------------------------------------------------------------------------------------------------------- 465,000 Dai Nippon Printing Co., Ltd. (Japan) 7,605,059 Railroads (0.2%) -------------------------------------------------------------------------------------------------------------------------------- 311 East Japan Railway Co. (Japan) 1,675,108 Retail (3.5%) -------------------------------------------------------------------------------------------------------------------------------- 33,200 Adidas-Salomon AG (Germany) 5,287,655 1,678,353 Dixons Group PLC (United Kingdom) 4,843,825 396,241 GUS PLC (United Kingdom) 6,820,272 498,000 Onward Kashiyama Co., Ltd. (Japan) 7,371,741 -------------------------------------------------------------------------------------------------------------------------------- 24,323,493 Shipping (0.5%) -------------------------------------------------------------------------------------------------------------------------------- 798,000 ComfortDelgro Corp., Ltd. (Singapore) 808,212 434,000 Mitsui O.S.K Lines, Ltd. (Japan) 2,796,203 -------------------------------------------------------------------------------------------------------------------------------- 3,604,415 Technology Services (1.2%) -------------------------------------------------------------------------------------------------------------------------------- 123,100 Canon, Inc. (Japan) 6,618,898 90,000 Canon Sales Co., Inc. (Japan) 1,506,452 -------------------------------------------------------------------------------------------------------------------------------- 8,125,350 Telecommunications (9.1%) -------------------------------------------------------------------------------------------------------------------------------- 7,148,000 China Telecom Corp., Ltd. (China) 2,497,506 295,700 Deutsche Telekom AG (Germany) 5,921,480 75,530 France Telecom SA (France) 2,267,294 223,352 France Telecom SA 144A (France) 6,704,681 285,230 Hellenic Telecommunication Organization (OTE) SA (Greece) 5,048,340 84 Jupiter Telecommunications Co. 144A (Japan) (NON) 67,159 881 Nippon Telegraph & Telephone (NTT) Corp. (Japan) 3,863,746 2,206 NTT DoCoMo, Inc. (Japan) 3,713,110 79,600 TDC A/S (Denmark) 3,364,466 348,895 Tele Norte Leste Participacoes SA ADR (Brazil) 5,397,406 824,541 Telecom Italia SpA (Italy) 3,134,111 316,931 Telefonica SA (Spain) 5,535,289 91,000 Telus Corp. (Canada) 2,925,752 5,248,163 Vodafone Group PLC (United Kingdom) 13,931,810 -------------------------------------------------------------------------------------------------------------------------------- 64,372,150 Telephone (1.0%) -------------------------------------------------------------------------------------------------------------------------------- 473,584 Koninklijke (Royal) KPN NV (Netherlands) 4,246,415 290,570 Koninklijke (Royal) KPN NV 144A (Netherlands) 2,605,410 -------------------------------------------------------------------------------------------------------------------------------- 6,851,825 Tobacco (1.2%) -------------------------------------------------------------------------------------------------------------------------------- 742 Japan Tobacco, Inc. (Japan) 8,256,780 Transportation Services (0.9%) -------------------------------------------------------------------------------------------------------------------------------- 4,650 Societe des Autoroutes du Nord et de l'Est de la France 144A (France) (NON) 238,081 217,029 TNT NV (Netherlands) 6,190,541 -------------------------------------------------------------------------------------------------------------------------------- 6,428,622 Water Utilities (0.5%) -------------------------------------------------------------------------------------------------------------------------------- 108,553 Veolia Environnement (France) 3,859,526 -------------------------------------------------------------------------------------------------------------------------------- Total Common stocks (cost $590,891,681) $690,808,681 -------------------------------------------------------------------------------------------------------------------------------- Short-term investments (1.6%) (a) -------------------------------------------------------------------------------------------------------------------------------- Principal amount Value -------------------------------------------------------------------------------------------------------------------------------- $11,235,003 Putnam Prime Money Market Fund (d) $11,235,003 -------------------------------------------------------------------------------------------------------------------------------- Total Short-term investments (cost $11,235,003) $11,235,003 -------------------------------------------------------------------------------------------------------------------------------- Total Investments (cost $602,126,684) (b) $702,043,684 ================================================================================================================================
NOTES (a) Percentages indicated are based on net assets of $703,937,383. (b) The aggregate identified cost on a tax basis is $604,210,947, resulting in gross unrealized appreciation and depreciation of $109,154,415 and $11,321,678, respectively, or net unrealized appreciation of $97,832,737. (NON) Non-income-producing security. (d) Pursuant to an exemptive order from the Securities and Exchange Commission, the fund invests in Putnam Prime Money Market Fund, an open-end management investment company managed by Putnam Investment Management, LLC ("Putnam Management"), the fund's manager, an indirect wholly-owned subsidiary of Putnam, LLC. Management fees paid by the fund are reduced by an amount equal to the management and administrative services fees paid by Putnam Prime Money Market Fund with respect to assets invested by the fund in Putnam Prime Money Market Fund. For the period ended March 31, 2005, management fees paid were reduced by $6,858 relating to the fund's investment in Putnam Prime Money Market Fund. Income distributions earned by the fund are recorded as income in the statement of operations and totaled $101,190 for the period ended March 31, 2005. During the period ended March 31, 2005, cost of purchases and cost of sales of investments in Putnam Prime Money Market Fund aggregated $116,392,412 and $107,787,742, respectively. 144A after the name of a security represents those exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. ADR or GDR after the name of a foreign holding stands for American Depositary Receipts or Global Depositary Receipts, respectively, representing ownership of foreign securities on deposit with a custodian bank. DIVERSIFICATION BY COUNTRY Distribution of investments by country of issue at March 31, 2005: (as a percentage of Market Value) Bermuda 1.0% Brazil 2.4 Canada 2.8 Denmark 1.4 France 10.6 Germany 8.0 Greece 0.9 Hong Kong 0.7 Ireland 2.2 Italy 1.3 Japan 20.1 Netherlands 7.1 Norway 0.6 Singapore 1.0 South Korea 1.2 Spain 2.2 Sweden 5.5 Switzerland 8.0 Taiwan 0.8 United Kingdom 19.2 United States 1.6 Other 1.4 Total 100.0% Security valuation Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets. If no sales are reported -- as in the case of some securities traded over-the-counter -- a security is valued at its last reported bid price. Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign securities taking into account multiple factors, including movements in the U.S. securities markets. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com Item 2. Controls and Procedures: -------------------------------- (a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms. (b) Changes in internal control over financial reporting: Not applicable Item 3. Exhibits: ------------------ A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Investment Company Act of 1940, as amended, are filed herewith. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NAME OF REGISTRANT By (Signature and Title): /s/ Michael T. Healy -------------------------- Michael T. Healy Principal Accounting Officer Date: May 27, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title): /s/ Charles E. Porter --------------------------- Charles E. Porter Principal Executive Officer Date: May 27, 2005 By (Signature and Title): /s/ Steven D. Krichmar --------------------------- Steven D. Krichmar Principal Financial Officer Date: May 27, 2005 Item 1. Schedule of Investments: -------------------------------- PUTNAM SMALL CAP GROWTH FUND QUARTERLY PORTFOLIO HOLDINGS 3-31-05
Putnam Small Cap Growth Fund -------------------------------------------------------------------------------------------------------------------------------- The fund's portfolio March 31, 2005 (Unaudited) Common stocks (99.3%) (a) -------------------------------------------------------------------------------------------------------------------------------- Number of shares Value -------------------------------------------------------------------------------------------------------------------------------- Advertising and Marketing Services (0.5%) -------------------------------------------------------------------------------------------------------------------------------- 94,700 aQuantive, Inc. (NON) $1,048,329 34,100 Greenfield Online, Inc. (NON) 670,065 -------------------------------------------------------------------------------------------------------------------------------- 1,718,394 Aerospace and Defense (2.0%) -------------------------------------------------------------------------------------------------------------------------------- 76,400 Applied Signal Technology, Inc. 1,749,560 44,700 Argon ST, Inc. (NON) 1,475,100 33,600 Hexcel Corp. (NON) 521,136 83,500 Innovative Solutions & Support, Inc. (NON) 2,651,125 -------------------------------------------------------------------------------------------------------------------------------- 6,396,921 Automotive (1.0%) -------------------------------------------------------------------------------------------------------------------------------- 27,500 Autoliv, Inc. (Sweden) 1,310,375 23,200 Oshkosh Truck Corp. 1,902,168 -------------------------------------------------------------------------------------------------------------------------------- 3,212,543 Banking (4.5%) -------------------------------------------------------------------------------------------------------------------------------- 34,900 Bank of the Ozarks, Inc. 1,108,075 50,000 Brookline Bancorp, Inc. 745,000 51,800 Capitol Bancorp, Ltd. 1,566,950 22,600 Cascade Bancorp 438,666 24,100 Center Financial Corp. 424,883 27,800 City Holding Co. 821,073 20,000 Community Bancorp (NON) 503,800 48,100 Financial Institutions, Inc. 952,861 10,500 First Community Bancorp 465,150 34,300 First Community Bancshares Inc. 962,801 43,500 First Niagara Financial Group, Inc. 574,635 41,900 Flagstar Bancorp, Inc. 819,145 34,500 Hanmi Financial Corp. 570,975 30,100 Old Second Bancorp, Inc. 908,268 21,800 Placer Sierra Bancshares 500,746 18,200 Signature Bank (NON) 482,482 15,000 Sterling Financial Corp. 390,300 12,300 Texas Regional Bancshares, Inc. 370,353 55,600 Trico Bancshares 1,164,820 38,300 West Coast Bancorp 911,540 -------------------------------------------------------------------------------------------------------------------------------- 14,682,523 Biotechnology (4.1%) -------------------------------------------------------------------------------------------------------------------------------- 68,100 Amylin Pharmaceuticals, Inc. (NON) 1,191,069 76,800 Cell Therapeutics, Inc. (NON) 275,712 96,900 Connetics Corp. (NON) 2,450,601 21,800 Genencor International, Inc. (NON) 419,214 60,800 Medicines Co. (NON) 1,377,728 36,200 MGI Pharma, Inc. (NON) 914,774 31,000 Molecular Devices Corp. (NON) 589,000 46,500 Neurochem, Inc. (Canada) (NON) 553,815 14,100 Neurocrine Biosciences, Inc. (NON) 536,646 19,700 NPS Pharmaceuticals, Inc. (NON) 248,614 59,700 Onyx Pharmaceuticals, Inc. (NON) 1,871,595 68,900 Orchid BioSciences, Inc. (NON) 810,264 9,703 OSI Pharmaceuticals, Inc. (NON) 401,122 107,700 Telik, Inc. (NON) 1,624,116 -------------------------------------------------------------------------------------------------------------------------------- 13,264,270 Chemicals (1.0%) -------------------------------------------------------------------------------------------------------------------------------- 8,600 Aceto Corp. 63,812 28,000 Amcol International Corp. 525,280 24,900 Brady Corp. Class A 805,515 12,100 CARBO Ceramics, Inc. 848,815 33,600 MacDermid, Inc. 1,092,000 -------------------------------------------------------------------------------------------------------------------------------- 3,335,422 Coal (0.4%) -------------------------------------------------------------------------------------------------------------------------------- 27,155 CONSOL Energy, Inc. 1,276,828 Commercial and Consumer Services (4.8%) -------------------------------------------------------------------------------------------------------------------------------- 33,800 Bright Horizons Family Solutions, Inc. (NON) 1,140,412 26,000 Charles River Associates, Inc. (NON) 1,283,100 34,100 Consolidated Graphics, Inc. (NON) 1,793,660 21,200 CoStar Group, Inc. (NON) 781,220 18,900 G & K Services, Inc. Class A 761,481 118,000 HealthExtras, Inc. (NON) 1,964,700 39,000 HUB Group, Inc. Class A (NON) 2,444,130 109,091 InteliData Technologies Corp. (Private) (NON) (F) 31,636 35,300 Intersections, Inc. (NON) 513,615 16,600 Navigant Consulting, Inc. (NON) 452,018 65,900 PDI, Inc. (NON) 1,350,950 50,000 Providence Service Corp. (The) (NON) 1,162,740 44,500 TeleTech Holdings, Inc. (NON) 574,940 50,400 Ventiv Health, Inc. (NON) 1,159,200 -------------------------------------------------------------------------------------------------------------------------------- 15,413,802 Communications Equipment (3.6%) -------------------------------------------------------------------------------------------------------------------------------- 170,500 Aspect Communications Corp. (NON) 1,774,905 70,771 Comtech Telecommunications Corp. (NON) 3,687,169 31,000 F5 Networks, Inc. (NON) 1,565,190 47,000 Harris Corp. 1,534,550 43,200 Inter-Tel, Inc. 1,058,400 42,600 Ixia, Inc. (NON) 757,854 81,800 Tekelec (NON) 1,303,892 -------------------------------------------------------------------------------------------------------------------------------- 11,681,960 Computers (4.7%) -------------------------------------------------------------------------------------------------------------------------------- 38,500 Anixter International, Inc. 1,391,775 31,300 Avid Technology, Inc. (NON) 1,693,956 126,200 Capitiva Software Corp. (NON) 1,366,746 97,000 Catapult Communications Corp. (NON) 2,070,950 68,900 Embarcadero Technologies, Inc. (NON) 454,051 58,500 Intergraph Corp. (NON) 1,685,385 20,500 j2 Global Communications, Inc. (NON) 703,355 38,800 Netgear, Inc. (NON) 585,492 18,400 Open Solutions, Inc. (NON) 364,872 565,200 Quantum Corp. (NON) 1,644,732 13,600 Stratasys, Inc. (NON) 385,288 19,400 Verint Systems, Inc. (NON) 677,836 180,638 Western Digital Corp. (NON) 2,303,135 -------------------------------------------------------------------------------------------------------------------------------- 15,327,573 Consumer Finance (1.1%) -------------------------------------------------------------------------------------------------------------------------------- 175,700 Metris Cos., Inc. (NON) 2,036,363 21,800 Portfolio Recovery Associates, Inc. (NON) 741,854 31,030 World Acceptance Corp. (NON) 791,886 -------------------------------------------------------------------------------------------------------------------------------- 3,570,103 Consumer Goods (0.3%) -------------------------------------------------------------------------------------------------------------------------------- 13,100 Jarden Corp. (NON) 601,028 25,800 Prestige Brands Holdings, Inc. (NON) 455,370 -------------------------------------------------------------------------------------------------------------------------------- 1,056,398 Consumer Services (2.2%) -------------------------------------------------------------------------------------------------------------------------------- 32,500 Alliance Data Systems Corp. (NON) 1,313,000 17,600 Getty Images, Inc. (NON) 1,251,536 103,800 Labor Ready, Inc. (NON) 1,935,870 246,200 Valueclick, Inc. (NON) 2,612,182 -------------------------------------------------------------------------------------------------------------------------------- 7,112,588 Distribution (0.9%) -------------------------------------------------------------------------------------------------------------------------------- 22,400 Beacon Roofing Supply, Inc. (NON) 490,224 59,400 LKQ Corp. (NON) 1,192,158 101,800 Smart & Final, Inc. (NON) 1,237,888 -------------------------------------------------------------------------------------------------------------------------------- 2,920,270 Distributors (0.2%) -------------------------------------------------------------------------------------------------------------------------------- 22,000 Hughes Supply, Inc. 654,500 Electrical Equipment (1.6%) -------------------------------------------------------------------------------------------------------------------------------- 48,200 Baldor Electric Co. 1,244,042 43,500 BEI Technologies, Inc. 1,042,695 62,900 Color Kinetics, Inc. (NON) 634,032 80,200 WESCO International, Inc. (NON) 2,245,600 -------------------------------------------------------------------------------------------------------------------------------- 5,166,369 Electronics (4.0%) -------------------------------------------------------------------------------------------------------------------------------- 91,300 Artesyn Technologies, Inc. (NON) 795,223 121,400 Integrated Device Technology, Inc. (NON) 1,460,442 73,000 Komag, Inc. (NON) 1,631,550 327,300 Kulicke & Soffa Industries, Inc. (NON) 2,058,717 107,400 Omnivision Technologies, Inc. (NON) 1,627,110 51,600 PLX Technology, Inc. (NON) 541,800 54,400 SiRF Technology Holdings, Inc. (NON) 607,104 116,300 Skyworks Solutions, Inc. (NON) 738,505 53,300 Standard Microsystems Corp. (NON) 925,288 137,900 Symmetricom, Inc. (NON) 1,529,311 67,339 Volterra Semiconductor Corp. (NON) 909,077 -------------------------------------------------------------------------------------------------------------------------------- 12,824,127 Energy (2.1%) -------------------------------------------------------------------------------------------------------------------------------- 34,800 CAL Dive International, Inc. (NON) 1,576,440 17,700 Core Laboratories NV (Netherlands) (NON) 454,359 47,900 Gulf Island Fabrication, Inc. 1,123,734 55,500 Oceaneering International, Inc. (NON) 2,081,250 86,800 Superior Energy Services (NON) 1,492,960 -------------------------------------------------------------------------------------------------------------------------------- 6,728,743 Energy (Oil Field) (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 53,100 Holly Corp. 1,979,037 Engineering & Construction (0.5%) -------------------------------------------------------------------------------------------------------------------------------- 107,600 Perini Corp (NON) 1,483,804 Entertainment (1.1%) -------------------------------------------------------------------------------------------------------------------------------- 84,700 Bluegreen Corp. (NON) 1,088,395 38,200 Great Wolf Resorts, Inc. (NON) 953,090 142,100 Lions Gate Entertainment Corp. (Canada) (NON) 1,570,205 -------------------------------------------------------------------------------------------------------------------------------- 3,611,690 Financial (0.7%) -------------------------------------------------------------------------------------------------------------------------------- 19,800 Archipelago Holdings, Inc. (NON) 350,460 42,900 Encore Capital Group, Inc. (NON) 624,195 28,300 Nasdaq Stock Market, Inc. (The) (NON) 302,810 38,800 Spirit Finance Corp. (NON) 421,368 47,500 Spirit Finance Corp. 144A (F) 515,850 -------------------------------------------------------------------------------------------------------------------------------- 2,214,683 Food (0.5%) -------------------------------------------------------------------------------------------------------------------------------- 63,200 7-Eleven, Inc. (NON) 1,518,064 Forest Products and Packaging (0.8%) -------------------------------------------------------------------------------------------------------------------------------- 41,400 Silgan Holdings, Inc. 2,690,172 Gaming & Lottery (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 34,800 Ameristar Casinos, Inc. 1,902,864 Health Care Services (6.2%) -------------------------------------------------------------------------------------------------------------------------------- 40,100 Amedisys, Inc. (NON) 1,213,025 31,900 America Service Group, Inc. (NON) 705,947 22,400 American Healthways, Inc. (NON) 739,648 21,700 AMERIGROUP Corp. (NON) 793,352 54,300 Bioenvision, Inc. (NON) 312,225 25,500 Centene Corp. (NON) 764,745 35,155 Coventry Health Care, Inc. (NON) 2,395,462 39,600 Genesis HealthCare Corp. (NON) 1,698,444 65,400 Healthcare Services Group, Inc. 1,585,950 32,300 LifePoint Hospitals, Inc. (NON) 1,416,032 16,300 Matria Healthcare, Inc. (NON) 500,573 36,200 National Medical Health Card Systems, Inc. (NON) 836,944 22,900 NitroMed, Inc. (NON) 396,399 24,100 Option Care, Inc. 496,219 32,700 Province Healthcare Co. (NON) 787,743 38,800 Psychiatric Solutions, Inc. (NON) 1,784,800 11,800 Quality Systems, Inc. 499,612 33,400 Sierra Health Services, Inc. (NON) 2,132,256 20,700 United Surgical Partners International, Inc. (NON) 947,439 -------------------------------------------------------------------------------------------------------------------------------- 20,006,815 Homebuilding (1.6%) -------------------------------------------------------------------------------------------------------------------------------- 13,800 Meritage Homes Corp. (NON) 813,096 2,550 NVR, Inc. (NON) 2,001,750 28,400 Ryland Group, Inc. (The) 1,761,368 6,500 William Lyon Homes, Inc. (NON) 498,550 -------------------------------------------------------------------------------------------------------------------------------- 5,074,764 Household Furniture and Appliances (0.3%) -------------------------------------------------------------------------------------------------------------------------------- 9,588 Genlyte Group, Inc. (The) (NON) 862,632 Insurance (0.4%) -------------------------------------------------------------------------------------------------------------------------------- 26,700 Zenith National Insurance Corp. 1,384,662 Investment Banking/Brokerage (1.4%) -------------------------------------------------------------------------------------------------------------------------------- 22,021 GFI Group, Inc. (NON) 590,823 10,700 Greenhill & Co., Inc. 383,060 55,800 Investment Technology Group, Inc. (NON) 976,500 85,700 LaBranche & Company, Inc. (NON) 797,010 11,500 National Financial Partners Corp. 457,700 46,300 optionsXpress Holdings, Inc. (NON) 749,597 41,400 SWS Group, Inc. 663,642 -------------------------------------------------------------------------------------------------------------------------------- 4,618,332 Leisure (0.4%) -------------------------------------------------------------------------------------------------------------------------------- 37,750 Marine Products Corp. 634,578 21,100 MarineMax, Inc. (NON) 657,898 -------------------------------------------------------------------------------------------------------------------------------- 1,292,476 Lodging/Tourism (0.3%) -------------------------------------------------------------------------------------------------------------------------------- 99,000 La Quinta Corp. (NON) 841,500 Machinery (0.3%) -------------------------------------------------------------------------------------------------------------------------------- 24,500 3D Systems Corp. (NON) 462,315 12,100 Bucyrus International, Inc. Class A 472,626 -------------------------------------------------------------------------------------------------------------------------------- 934,941 Manufacturing (1.5%) -------------------------------------------------------------------------------------------------------------------------------- 36,760 Flowserve Corp. (NON) 950,981 27,800 IDEX Corp. 1,121,730 61,900 Standex International Corp. 1,689,870 26,713 York International Corp. 1,046,615 -------------------------------------------------------------------------------------------------------------------------------- 4,809,196 Medical Technology (8.3%) -------------------------------------------------------------------------------------------------------------------------------- 60,300 Adeza Biomedical Corp. (NON) 734,454 38,300 Atherogenics, Inc. (NON) 501,347 19,400 Biosite, Inc. (NON) 1,009,382 63,400 Dade Behring Holdings, Inc. (NON) 3,736,162 69,800 Digirad Corp. (NON) 540,950 100,000 DJ Orthopedics, Inc. (NON) 2,505,000 79,300 Epix Pharmaceuticals, Inc. (NON) 555,100 50,800 Haemonetics Corp. (NON) 2,141,728 111,800 Immucor, Inc. (NON) 3,375,242 21,600 Kinetic Concepts, Inc. (NON) 1,288,440 43,400 Palomar Medical Technologies, Inc. (NON) 1,170,498 28,300 Respironics, Inc. (NON) 1,649,041 94,200 Sybron Dental Specialties, Inc. (NON) 3,381,780 39,600 Symmetry Medical, Inc. (NON) 753,192 23,800 Varian Medical Systems, Inc. (NON) 815,864 49,600 Ventana Medical Systems, Inc. (NON) 1,858,016 74,300 Vnus Medical Technologies, Inc. (NON) 860,394 -------------------------------------------------------------------------------------------------------------------------------- 26,876,590 Metals (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 91,500 AK Steel Holding Corp. (NON) 1,011,990 27,400 Century Aluminum Co. (NON) 829,124 -------------------------------------------------------------------------------------------------------------------------------- 1,841,114 Office Equipment & Supplies (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 27,860 Global Imaging Systems, Inc. (NON) 987,916 22,400 Middleby Corp. (The) 1,106,560 -------------------------------------------------------------------------------------------------------------------------------- 2,094,476 Oil & Gas (2.5%) -------------------------------------------------------------------------------------------------------------------------------- 27,100 Denbury Resources, Inc. (NON) 954,733 13,400 Frontier Oil Corp. 485,884 19,500 Houston Exploration Co. (NON) 1,110,525 49,400 KCS Energy, Inc. (NON) 758,784 21,600 Newfield Exploration Co. (NON) 1,604,016 7,600 Petroleum Development Corp. (NON) 286,444 39,100 Pioneer Drilling Co. (NON) 538,407 25,300 Southwestern Energy Co. (NON) 1,436,028 34,000 W-H Energy Services, Inc. (NON) 813,620 -------------------------------------------------------------------------------------------------------------------------------- 7,988,441 Pharmaceuticals (3.9%) -------------------------------------------------------------------------------------------------------------------------------- 13,100 American Pharmaceutical Partners, Inc. (NON) 677,794 45,990 Bradley Pharmaceuticals, Inc. (NON) 439,664 40,600 Conor Medsystems, Inc. (NON) 661,374 78,200 First Horizon Pharmaceutical Corp. (NON) 1,320,016 157,700 Ista Pharmaceuticals, Inc. (NON) 1,558,076 13,300 Kos Pharmaceuticals, Inc. (NON) 554,344 127,200 Penwest Pharmaceuticals Co. (NON) 1,572,192 20,000 Penwest Pharmaceuticals Co. (Private) (NON) (F) 247,200 174,231 Salix Pharmaceuticals, Ltd. (NON) 2,873,069 48,500 United Therapeutics Corp. (NON) 2,216,208 28,000 Vicuron Pharmaceuticals, Inc. (NON) 441,280 -------------------------------------------------------------------------------------------------------------------------------- 12,561,217 Real Estate (1.7%) -------------------------------------------------------------------------------------------------------------------------------- 77,800 Brookfield Homes Corp. 3,283,938 24,500 Global Signal, Inc. (R) 734,020 50,000 LaSalle Hotel Properties (R) 1,452,500 -------------------------------------------------------------------------------------------------------------------------------- 5,470,458 Restaurants (0.2%) -------------------------------------------------------------------------------------------------------------------------------- 14,600 Red Robin Gourmet Burgers, Inc. (NON) 743,286 Retail (5.6%) -------------------------------------------------------------------------------------------------------------------------------- 56,500 Aeropostale, Inc. (NON) 1,850,375 24,900 Barnes & Noble, Inc. (NON) 858,801 59,000 BJ's Wholesale Club, Inc. (NON) 1,832,540 40,600 Borders Group, Inc. 1,080,772 93,150 Coldwater Creek, Inc. (NON) 1,721,412 49,100 Finish Line Class A 1,136,665 65,900 Genesco, Inc. (NON) 1,872,878 16,400 Guitar Center, Inc. (NON) 899,212 36,400 Nash Finch Co. 1,382,836 116,800 Pantry, Inc. (The) (NON) 3,617,296 58,600 Rent-Way, Inc. (NON) 480,520 58,500 West Marine, Inc. (NON) 1,243,710 -------------------------------------------------------------------------------------------------------------------------------- 17,977,017 Schools (0.3%) -------------------------------------------------------------------------------------------------------------------------------- 23,400 Universal Technical Institute, Inc. (NON) 861,120 Semiconductor (2.6%) -------------------------------------------------------------------------------------------------------------------------------- 79,700 Brooks Automation, Inc. (NON) 1,209,846 26,700 Cognex Corp. 664,296 59,800 Lam Research Corp. (NON) 1,725,828 147,100 Photronics, Inc. (NON) 2,662,510 55,100 PowerDsine, Ltd. (Israel) (NON) 563,673 30,500 Rofin-Sinar Technologies, Inc. (NON) 980,270 14,600 Tessera Technologies, Inc. (NON) 631,158 -------------------------------------------------------------------------------------------------------------------------------- 8,437,581 Shipping (1.2%) -------------------------------------------------------------------------------------------------------------------------------- 12,200 Arkansas Best Corp. 460,916 22,600 DryShips, Inc. (Greece) (NON) 440,474 46,875 Heartland Express, Inc. 897,656 29,200 J. B. Hunt Transport Services, Inc. 1,278,084 18,800 Knight Transportation, Inc. 463,796 12,400 Old Dominion Freight Line (NON) 386,260 -------------------------------------------------------------------------------------------------------------------------------- 3,927,186 Software (3.4%) -------------------------------------------------------------------------------------------------------------------------------- 29,000 ANSYS, Inc. (NON) 992,090 26,700 Autodesk, Inc. 794,592 83,900 Blackboard, Inc. (NON) 1,463,216 84,400 Epicor Software Corp. (NON) 1,105,640 25,000 FileNET Corp. (NON) 569,500 35,300 Kronos, Inc. (NON) 1,804,183 98,000 Matrixone, Inc. (NON) 467,460 26,800 MicroStrategy, Inc. (NON) 1,454,436 132,200 S1 Corp. (NON) 917,468 27,600 SYNNEX Corp. (NON) 480,792 49,000 WebEx Communications, Inc. (NON) 1,057,910 -------------------------------------------------------------------------------------------------------------------------------- 11,107,287 Staffing (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 112,000 Hudson Highland Group, Inc. (NON) 1,914,080 Technology (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 521,900 ON Semiconductor Corp. (NON) 2,061,505 Technology Services (5.5%) -------------------------------------------------------------------------------------------------------------------------------- 55,000 Acxiom Corp. 1,151,150 28,400 Arbinet Holdings, Inc. (NON) 541,020 235,800 DiamondCluster International, Inc. Class A (NON) 3,796,380 32,700 Digital River, Inc. (NON) 1,018,930 53,600 Fastclick, Inc. (NON) 643,200 99,900 Ingram Micro, Inc. Class A (NON) 1,665,333 197,000 Jupitermedia Corp. (NON) 3,055,470 57,600 MTS Systems Corp. 1,672,128 50,800 Overland Storage, Inc. (NON) 745,744 100,000 RSA Security, Inc. (NON) 1,585,000 180,900 Sapient Corp. (NON) 1,328,711 19,200 SI International, Inc. (NON) 530,496 -------------------------------------------------------------------------------------------------------------------------------- 17,733,562 Telecommunications (2.6%) -------------------------------------------------------------------------------------------------------------------------------- 126,300 Boston Communications Group (NON) 899,256 32,400 Commonwealth Telephone Enterprises, Inc. (NON) 1,527,336 41,800 NII Holdings, Inc. (NON) 2,403,500 318,900 Premiere Global Services, Inc. (NON) 3,609,948 -------------------------------------------------------------------------------------------------------------------------------- 8,440,040 Textiles (1.9%) -------------------------------------------------------------------------------------------------------------------------------- 48,300 Cherokee, Inc. 1,617,084 114,700 K-Swiss, Inc. Class A 3,788,541 41,400 Wolverine World Wide, Inc. 887,202 -------------------------------------------------------------------------------------------------------------------------------- 6,292,827 Transportation (0.2%) -------------------------------------------------------------------------------------------------------------------------------- 10,950 UTI Worldwide, Inc. 760,478 Trucks & Parts (0.2%) -------------------------------------------------------------------------------------------------------------------------------- 39,200 Commercial Vehicle Group, Inc. (NON) 784,000 Waste Management (0.6%) -------------------------------------------------------------------------------------------------------------------------------- 43,200 Casella Waste Systems, Inc. Class A (NON) 571,536 40,900 Waste Connections, Inc. (NON) 1,421,275 -------------------------------------------------------------------------------------------------------------------------------- 1,992,811 -------------------------------------------------------------------------------------------------------------------------------- Total Common stocks (cost $277,485,750) $321,434,042 -------------------------------------------------------------------------------------------------------------------------------- Short-term investments (0.6%) (a) (cost $1,910,543) -------------------------------------------------------------------------------------------------------------------------------- Principal amount Value -------------------------------------------------------------------------------------------------------------------------------- $1,910,543 Putnam Prime Money Market Fund (e) $1,910,543 -------------------------------------------------------------------------------------------------------------------------------- Total Investments (cost $279,396,293) (b) $323,344,585 ================================================================================================================================
Putnam Small Cap Growth Fund ------------------------------------------------------------------------------- Written options outstanding at March 31, 2005 (Unaudited) (premiums received $43,555) Contract Expiration date/ amount strike price Value ------------------------------------------------------------------------------- 48,086 AK Steel Holding Corp. (Put) Apr 05/$11.07 $33,175 4,362 F5 Networks, Inc. (Put) Apr 05/$45.36 5,671 5,018 Meritage Homes Corp. (Call) Apr 05/$68.89 246 15,585 Steel Dynamics, Inc. (Put) Apr 05/$36.44 45,673 ------------------------------------------------------------------------------- $84,765 =============================================================================== NOTES (a) Percentages indicated are based on net assets of $323,859,254. (b) The aggregate identified cost on a tax basis is $279,677,522, resulting in gross unrealized appreciation and depreciation of $58,382,267 and $14,715,204, respectively, or net unrealized appreciation of $43,667,063. (NON) Non-income-producing security. (R) Real Estate Investment Trust. (e) Pursuant to an exemptive order from the Securities and Exchange Commission, the fund invests in Putnam Prime Money Market Fund, an open-end management investment company managed by Putnam Investment Management, LLC ("Putnam Management"), the fund's manager, an indirect wholly-owned subsidiary of Putnam, LLC. Management fees paid by the fund are reduced by an amount equal to the management and administrative fees paid by Putnam Prime Money Market Fund with respect to assets invested by the fund in Putnam Prime Money Market Fund. Income distributions earned by the fund are recorded as income and totaled $82,981 for the period ended March 31, 2005. During the period ended March 31, 2005, cost of purchases and cost of sales of investments in Putnam Prime Money Market Fund aggregated $100,186,042 and $105,103,952, respectively. (F) Security is valued at fair value following procedures approved by the Trustees. 144A after the name of a security represents those exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. Security valuation Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets. If no sales are reported -- as in the case of some securities traded over-the-counter -- a security is valued at its last reported bid price. Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign securities taking into account multiple factors, including movements in the U.S. securities markets. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Short-term investments having remaining maturities of 60 days or less are valued at amortized cost, which approximates fair value. Other investments, including certain restricted securities, are valued at fair value following procedures approved by the Trustees. Such valuations and procedures are reviewed periodically by the Trustees. Futures and options contracts The fund may use futures and options contracts to hedge against changes in the values of securities the fund owns or expects to purchase. The fund may also write options on securities it owns or in which it may invest to increase its current returns. The potential risk to the fund is that the change in value of futures and options contracts may not correspond to the change in value of the hedged instruments. In addition, losses may arise from changes in the value of the underlying instruments, if there is an illiquid secondary market for the contracts, or if the counterparty to the contract is unable to perform. Risks may exceed amounts recognized on the statement of assets and liabilities. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Realized gains and losses on purchased options are included in realized gains and losses on investment securities. If a written call option is exercised, the premium originally received is recorded as an addition to sales proceeds. If a written put option is exercised, the premium originally received is recorded as a reduction to cost of investments. Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade. The fund and the broker agree to exchange an amount of cash equal to the daily fluctuation in the value of the futures contract. Such receipts or payments are known as "variation margin." Exchange traded options are valued at the last sale price, or if no sales are reported, the last bid price for purchased options and the last ask price for written options. Options traded over-the-counter are valued using prices supplied by dealers. Futures and written option contracts outstanding at period end, if any, are listed after the fund's portfolio. For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com Item 2. Controls and Procedures: -------------------------------- (a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms. (b) Changes in internal control over financial reporting: Not applicable Item 3. Exhibits: ------------------ A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Investment Company Act of 1940, as amended, are filed herewith. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NAME OF REGISTRANT By (Signature and Title): /s/ Michael T. Healy -------------------------- Michael T. Healy Principal Accounting Officer Date: May 27, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title): /s/ Charles E. Porter --------------------------- Charles E. Porter Principal Executive Officer Date: May 27, 2005 By (Signature and Title): /s/ Steven D. Krichmar --------------------------- Steven D. Krichmar Principal Financial Officer Date: May 27, 2005