0000928816-13-000704.txt : 20130426 0000928816-13-000704.hdr.sgml : 20130426 20130426171429 ACCESSION NUMBER: 0000928816-13-000704 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130228 FILED AS OF DATE: 20130426 DATE AS OF CHANGE: 20130426 EFFECTIVENESS DATE: 20130426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM FUNDS TRUST CENTRAL INDEX KEY: 0001005942 IRS NUMBER: 043299786 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-07513 FILM NUMBER: 13788331 BUSINESS ADDRESS: STREET 1: ONE POST STREET 2: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921010 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 0001005942 S000024760 Putnam Dynamic Asset Allocation Equity Fund C000073568 Class A C000073569 Class Y N-Q 1 a_dynamicassetallocation.htm PUTNAM FUNDS TRUST a_dynamicassetallocation.htm


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

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY



Investment Company Act file number: (811-07513)
Exact name of registrant as specified in charter: Putnam Funds Trust
Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109
Name and address of agent for service: Robert T. Burns, Vice President
One Post Office Square
Boston, Massachusetts 02109
Copy to:         John W. Gerstmayr, Esq.
Ropes & Gray LLP
800 Boylston Street
Boston, Massachusetts 02199-3600
Registrant’s telephone number, including area code: (617) 292-1000
Date of fiscal year end: May 31, 2013
Date of reporting period: February 28, 2013



Item 1. Schedule of Investments:













Putnam Dynamic Asset Allocation Equity Fund

The fund's portfolio
2/28/13 (Unaudited)
COMMON STOCKS (92.3%)(a)
Shares Value
Advertising and marketing services (0.1%)
Millennial Media, Inc.(NON) 111 $1,040
Nu Skin Enterprises, Inc. Class A 114 4,697
ValueClick, Inc.(NON) 226 6,027
11,764
Aerospace and defense (2.5%)
Alliant Techsystems, Inc. 75 4,935
Boeing Co. (The) 2,513 193,250
Embraer SA ADR (Brazil) 213 7,229
European Aeronautic Defense and Space Co. NV (France) 668 34,022
General Dynamics Corp. 1,266 86,050
Lockheed Martin Corp. 1,028 90,464
Northrop Grumman Corp. 1,061 69,685
Raytheon Co. 1,370 74,761
Smith & Wesson Holding Corp.(NON) 192 1,834
Sturm Ruger & Co., Inc. 33 1,802
564,032
Agriculture (0.1%)
Andersons, Inc. (The) 16 785
Archer Daniels-Midland Co. 88 2,804
Black Earth Farming, Ltd. SDR (Russia)(NON) 158 299
Cresud S.A.C.I.F. y A. ADR (Argentina)(NON) 64 536
First Resources, Ltd. (Singapore) 4,000 6,274
Golden Agri-Resources, Ltd. (Singapore) 16,000 8,375
GrainCorp, Ltd. (Australia) 187 2,343
KWS Saat AG (Germany) 3 1,148
PT Astra Agro Lestari Tbk (Indonesia) 500 953
SLC Agricola SA (Brazil) 71 695
Vilmorin & Cie (France) 7 882
25,094
Airlines (0.7%)
Aeroflot - Russian Airlines OJSC (Russia)(NON) 4,134 7,177
Alaska Air Group, Inc.(NON) 60 3,093
China Eastern Airlines Corporation Limited (China)(NON) 16,000 6,856
Copa Holdings SA Class A (Panama) 102 10,651
Delta Air Lines, Inc.(NON) 4,052 57,821
International Consolidated Airlines Group SA (Spain)(NON) 3,396 12,250
SkyWest, Inc. 268 3,752
Southwest Airlines Co. 3,743 43,793
Turk Hava Yollari (Turkey)(NON) 2,582 10,697
156,090
Automotive (1.0%)
Daihatsu Motor Co., Ltd. (Japan) 1,000 20,306
Ford Otomotiv Sanayi AS (Turkey) 768 9,054
Fuji Heavy Industries, Ltd. (Japan) 1,000 14,939
Isuzu Motors, Ltd. (Japan) 5,000 30,729
Kia Motors Corp. (South Korea) 190 9,757
Lear Corp. 589 31,463
Maruti Suzuki India, Ltd. (India) 222 5,526
Mitsubishi Motors Corp. (Japan)(NON) 12,000 13,197
Navistar International Corp.(NON) 204 5,065
Scania AB Class B (Sweden) 686 14,261
Suzuki Motor Corp. (Japan) 900 21,512
Tata Motors, Ltd. (India) 2,634 14,133
Volkswagen AG (Preference) (Germany) 111 24,238
214,180
Banking (7.1%)
Agricultural Bank of China, Ltd. (China) 25,000 12,901
Associated Banc-Corp. 1,542 22,189
Australia & New Zealand Banking Group, Ltd. (Australia) 573 16,782
Banco Bilbao Vizcaya Argentaria SA (BBVA) (Spain) 1,424 13,766
Banco Latinoamericano de Exportaciones SA Class E (Panama) 357 8,632
Banco Santander Central Hispano SA (Spain) 2,645 20,067
Bank Mandiri (Persero) Tbk PT (Indonesia) 15,000 15,575
Barclays PLC (United Kingdom) 8,111 37,724
BNP Paribas SA (France) 530 29,592
BofI Holding, Inc.(NON) 252 8,485
Cardinal Financial Corp. 298 4,747
China Construction Bank Corp. (China) 27,000 22,302
Chongqing Rural Commercial Bank (China) 18,000 10,108
CIMB Group Holdings Berhad (Malaysia) 4,500 10,475
Citizens & Northern Corp. 188 3,666
Citizens Republic Bancorp, Inc.(NON) 173 3,564
City National Corp. 403 22,894
Commonwealth Bank of Australia (Australia) 617 42,346
Credicorp, Ltd. (Peru) 48 7,199
Credit Agricole SA (France)(NON) 1,812 17,045
Credit Suisse Group (Switzerland) 338 9,003
DBS Group Holdings, Ltd. (Singapore) 1,000 12,142
Eagle Bancorp, Inc.(NON) 150 3,255
East West Bancorp, Inc. 246 6,052
Erste Group Bank AG (Czech Republic)(NON) 246 7,931
Fifth Third Bancorp 5,354 84,806
Financial Institutions, Inc. 197 3,926
First Community Bancshares Inc. 194 3,030
FirstRand, Ltd. (South Africa) 1,663 5,680
Flushing Financial Corp. 331 5,230
Grupo Financiero Banorte SAB de CV (Mexico) 1,979 14,636
Hang Seng Bank, Ltd. (Hong Kong) 1,100 17,795
Hanmi Financial Corp.(NON) 401 6,813
Heartland Financial USA, Inc. 129 3,037
Heritage Financial Group, Inc. 183 2,511
HSBC Holdings, PLC (United Kingdom) 4,541 50,315
ICICI Bank, Ltd. (India) 394 7,517
Industrial and Commercial Bank of China, Ltd. (China) 39,000 28,033
Jammu & Kashmir Bank, Ltd. (India) 340 7,854
Joyo Bank, Ltd. (The) (Japan) 3,000 14,979
JPMorgan Chase & Co. 7,299 357,066
Kasikornbank PCL NVDR (Thailand) 1,700 12,071
MainSource Financial Group, Inc. 295 4,130
Mitsubishi UFJ Financial Group (MUFG), Inc. (Japan) 5,900 32,630
Northern Trust Corp. 1,069 56,839
Oriental Financial Group (Puerto Rico) 188 2,878
Peoples Bancorp, Inc. 187 4,052
PNC Financial Services Group, Inc. 1,875 116,981
Popular, Inc. (Puerto Rico)(NON) 1,074 29,986
PT Bank Rakyat Indonesia (Persero) Tbk (Indonesia) 18,000 17,558
Republic Bancorp, Inc. Class A 120 2,597
Resona Holdings, Inc. (Japan) 2,700 12,373
Sberbank of Russia ADR (Russia) 2,141 29,553
Security Bank Corp. (Philippines) 2,130 9,245
Standard Chartered PLC (United Kingdom) 536 14,567
State Street Corp. 1,859 105,200
Swedbank AB Class A (Sweden) 1,369 32,774
Synovus Financial Corp. 7,203 18,296
Toronto-Dominion Bank (The) (Canada) 523 43,038
Walker & Dunlop, Inc.(NON) 328 6,954
Washington Banking Co. 234 3,215
Wells Fargo & Co. 1,586 55,637
Westpac Banking Corp. (Australia) 668 20,953
1,613,197
Beverage (0.8%)
Anheuser-Busch InBev NV (Belgium) 204 19,123
Coca-Cola Co. (The) 979 37,907
Companhia de Bebidas das Americas (AmBev) ADR (Preference) (Brazil) 246 10,917
Constellation Brands, Inc. Class A(NON) 634 28,048
Diageo PLC (United Kingdom) 477 14,299
Heineken Holding NV (Netherlands) 341 21,372
Molson Coors Brewing Co. Class B 555 24,537
SABMiller PLC (United Kingdom) 250 12,416
SABMiller PLC (United Kingdom) 183 9,020
177,639
Biotechnology (2.2%)
Amgen, Inc. 1,783 162,983
BioMarin Pharmaceuticals, Inc.(NON) 62 3,594
Celgene Corp.(NON) 1,143 117,934
Cubist Pharmaceuticals, Inc.(NON) 168 7,128
Gilead Sciences, Inc.(NON) 3,624 154,781
Lexicon Pharmaceuticals, Inc.(NON) 567 1,117
Medicines Co. (The)(NON) 275 8,748
PDL BioPharma, Inc. 490 3,499
RTI Biologics, Inc.(NON) 615 2,232
Spectrum Pharmaceuticals, Inc. 264 3,010
United Therapeutics Corp.(NON) 326 19,498
484,524
Broadcasting (0.2%)
Belo Corp. Class A 1,386 11,975
Grupo Televisa, S.A.B ADR (Mexico) 499 13,388
Sinclair Broadcast Group, Inc. Class A 559 7,871
33,234
Cable television (1.5%)
Comcast Corp. Class A 6,466 257,281
DISH Network Corp. Class A 1,029 35,809
HSN, Inc. 48 2,568
IAC/InterActiveCorp. 1,107 45,110
340,768
Capital goods (—%)
Great Lakes Dredge & Dock Corp. 1,144 11,154
11,154
Chemicals (3.3%)
Agrium, Inc. (Canada) 32 3,310
American Vanguard Corp. 123 3,817
Arkema (France) 186 18,835
Axiall Corp. 299 16,917
BASF SE (Germany) 418 39,333
Cambrex Corp.(NON) 471 5,421
CF Industries Holdings, Inc. 251 50,407
Cytec Industries, Inc. 221 15,998
Eastman Chemical Co. 587 40,932
Huntsman Corp. 858 14,783
Incitec Pivot, Ltd. (Australia) 537 1,767
Innophos Holdings, Inc. 143 6,983
Innospec, Inc. 142 5,716
Intrepid Potash, Inc. 46 907
K&S AG (Germany) 88 4,137
Koppers Holdings, Inc. 105 4,355
Kraton Performance Polymers, Inc.(NON) 146 3,510
Kronos Worldwide, Inc. 113 1,933
Landec Corp.(NON) 350 3,854
Linde AG (Germany) 113 20,463
LSB Industries, Inc.(NON) 425 16,469
LyondellBasell Industries NV Class A 1,095 64,189
Minerals Technologies, Inc. 56 2,253
Monsanto Co. 1,583 159,930
Mosaic Co. (The) 34 1,990
Nitto Denko Corp. (Japan) 500 29,382
Nufarm, Ltd. (Australia) 268 1,530
OM Group, Inc.(NON) 130 3,190
PolyOne Corp. 407 9,276
Potash Corp. of Saskatchewan, Inc. (Canada) 95 3,809
PPG Industries, Inc. 428 57,633
Sherwin-Williams Co. (The) 312 50,416
Sociedad Quimica y Minera de Chile SA ADR (Chile) 55 3,048
Syngenta AG (Switzerland) 62 26,246
Tronox, Ltd. Class A 118 2,424
Valspar Corp. 389 23,966
W.R. Grace & Co.(NON) 396 28,346
Yara International ASA (Norway) 51 2,439
749,914
Coal (0.2%)
Alpha Natural Resources, Inc.(NON) 1,245 9,935
China Shenhua Energy Co., Ltd. (China) 1,500 5,671
Peabody Energy Corp. 1,144 24,665
40,271
Commercial and consumer services (1.7%)
ADT Corp. (The) 1,064 50,954
Alliance Global Group, Inc. (Philippines) 10,100 4,968
Babcock International Group PLC (United Kingdom) 866 14,086
Barloworld, Ltd. (South Africa) 642 6,565
Bureau Veritas SA (France) 125 16,099
Compass Group PLC (United Kingdom) 1,067 12,961
Corporate Executive Board Co. (The) 48 2,599
Deluxe Corp. 271 10,753
Expedia, Inc. 491 31,345
Experian Group, Ltd. (United Kingdom) 813 13,461
Global Cash Access Holdings, Inc.(NON) 396 2,812
Green Dot Corp. Class A(NON) 352 4,935
Harbinger Group, Inc.(NON) 376 3,222
HMS Holdings Corp.(NON) 105 3,044
MAXIMUS, Inc. 33 2,402
Priceline.com, Inc.(NON) 181 124,451
Randstad Holding NV (Netherlands) 125 5,298
Standard Parking Corp.(NON) 284 5,894
Total Systems Services, Inc. 2,193 52,105
URS Corp. 435 18,383
386,337
Communications equipment (1.0%)
Cisco Systems, Inc. 10,379 216,401
Plantronics, Inc. 81 3,269
RF Micro Devices, Inc.(NON) 487 2,245
Wistron NeWeb Corp. (Taiwan) 3,356 6,015
227,930
Computers (3.6%)
Actuate Corp.(NON) 993 5,968
Anixter International, Inc. 54 3,722
Apple, Inc. 1,192 526,148
Aspen Technology, Inc.(NON) 131 4,030
Bottomline Technologies, Inc.(NON) 164 4,449
Brocade Communications Systems, Inc.(NON) 3,698 20,746
Commvault Systems, Inc.(NON) 80 5,916
Cornerstone OnDemand, Inc.(NON) 81 2,743
EMC Corp.(NON) 4,642 106,811
Gemalto NV (Netherlands) 153 13,933
HCL Technologies, Ltd. (India) 802 10,671
Infoblox, Inc.(NON) 161 3,395
InnerWorkings, Inc.(NON) 246 3,633
Ixia(NON) 125 2,535
Lexmark International, Inc. Class A 765 16,845
MTS Systems Corp. 87 4,698
Netscout Systems, Inc.(NON) 162 4,120
Polycom, Inc.(NON) 534 4,833
Procera Networks, Inc.(NON) 213 2,492
Quantum Corp.(NON) 2,414 3,042
Riverbed Technology, Inc.(NON) 1,094 16,716
Silicon Graphics International Corp.(NON) 143 2,152
SS&C Technologies Holdings, Inc.(NON) 137 3,467
Stratasys, Ltd.(NON) 36 2,273
Tangoe, Inc.(NON) 125 1,709
Western Digital Corp. 848 39,992
817,039
Conglomerates (1.8%)
AMETEK, Inc. 1,156 48,355
Danaher Corp. 2,175 133,980
General Electric Co. 5,365 124,575
Marubeni Corp. (Japan) 1,000 7,299
Siemens AG (Germany) 304 31,596
Tyco International, Ltd. 2,029 64,948
410,753
Construction (0.7%)
Cemex Latam Holdings SA (Colombia)(NON) 941 6,998
CEMEX SAB de CV ADR (Mexico)(NON) 841 9,032
Chicago Bridge & Iron Co., NV 550 29,475
China Liansu Group Holdings, Ltd. (China) 12,000 8,383
China National Building Material Co., Ltd. (China) 4,000 6,086
China Shanshui Cement Group, Ltd. (China) 14,000 10,028
Eagle Materials, Inc. 108 6,945
Enka Insaat ve Sanayi AS (Turkey) 2,964 9,025
Fortune Brands Home & Security, Inc.(NON) 887 30,645
Koninklijke Boskalis Westminster NV (Netherlands) 326 13,934
PT Indocement Tunggal Prakarsa Tbk (Indonesia) 5,000 11,331
Siam Cement PCL NVDR (Thailand) 700 10,924
Trex Co., Inc.(NON) 159 7,511
160,317
Consumer (0.1%)
Jarden Corp.(NON) 472 29,316
29,316
Consumer finance (0.6%)
Discover Financial Services 2,014 77,598
Nationstar Mortgage Holdings, Inc.(NON) 215 8,284
Nelnet, Inc. Class A 182 6,039
Ocwen Financial Corp.(NON) 109 4,297
PHH Corp.(NON) 165 3,467
Portfolio Recovery Associates, Inc.(NON) 36 4,209
Samsung Card Co., Ltd. (South Korea) 290 10,427
Walter Investment Management Corp.(NON) 263 12,077
World Acceptance Corp.(NON) 41 3,227
129,625
Consumer goods (1.8%)
Kao Corp. (Japan) 600 19,179
Prestige Brands Holdings, Inc.(NON) 212 5,043
Procter & Gamble Co. (The) 4,740 361,092
Reckitt Benckiser Group PLC (United Kingdom) 452 30,370
415,684
Consumer services (0.5%)
Avis Budget Group, Inc.(NON) 655 15,307
DeNA Co., Ltd. (Japan) 300 8,415
Geo Group, Inc. (The) 233 8,048
Liberty Interactive Corp. Class A(NON) 2,590 54,078
OpenTable, Inc.(NON) 41 2,280
TrueBlue, Inc.(NON) 689 13,360
101,488
Containers (0.1%)
Ball Corp. 636 28,245
28,245
Distribution (0.2%)
Beacon Roofing Supply, Inc.(NON) 180 6,642
Core-Mark Holding Co., Inc. 85 4,073
Spartan Stores, Inc. 155 2,582
Toyota Tsusho Corp. (Japan) 1,000 25,464
United Natural Foods, Inc.(NON) 86 4,353
43,114
Electric utilities (2.3%)
AES Corp. 3,040 35,325
American Electric Power Co., Inc. 1,829 85,579
Chubu Electric Power Co., Inc. (Japan) 300 3,760
CMS Energy Corp. 1,262 33,582
DTE Energy Co. 742 49,566
Enel SpA (Italy) 4,012 14,526
Entergy Corp. 754 46,944
GDF Suez (France) 732 13,793
Kansai Electric Power, Inc. (Japan) 2,500 21,570
Manila Electric Co. (Philippines) 1,390 10,734
OGE Energy Corp. 476 27,565
PG&E Corp. 1,664 70,953
Power Grid Corp. of India, Ltd. (India) 4,368 8,364
PPL Corp. 2,295 70,732
Red Electrica Corporacion SA (Spain) 369 20,416
513,409
Electrical equipment (0.1%)
ABB, Ltd. (Switzerland) 936 21,268
Harbin Electric Co., Ltd. (China) 8,000 6,977
28,245
Electronics (2.2%)
Acacia Research Corp.(NON) 57 1,594
Asustek Computer, Inc. (Taiwan) 1,000 12,205
Avnet, Inc.(NON) 791 27,930
Broadcom Corp. Class A 1,583 53,996
Casetek Holdings, Ltd. (Taiwan)(NON) 1,000 4,820
China Automation Group, Ltd. (China) 20,000 5,366
Cirrus Logic, Inc.(NON) 55 1,322
EnerSys(NON) 198 8,094
FEI Co. 85 5,384
First Solar, Inc.(NON) 51 1,318
GenMark Diagnostics, Inc.(NON) 116 1,210
Hollysys Automation Technologies, Ltd. (China)(NON) 293 3,654
Hon Hai Precision Industry Co., Ltd. (Taiwan) 6,820 18,947
Integrated Silicon Solutions, Inc.(NON) 615 5,228
L-3 Communications Holdings, Inc. 481 36,686
Marvell Technology Group, Ltd. 2,626 26,523
Mentor Graphics Corp.(NON) 472 8,359
Microsemi Corp.(NON) 166 3,425
NEC Corp. (Japan)(NON) 12,000 29,625
NVIDIA Corp. 2,519 31,891
Omnivision Technologies, Inc.(NON) 276 4,253
Pegatron Corp. (Taiwan)(NON) 9,000 12,285
Rockwell Automation, Inc. 651 58,811
Samsung Electronics Co., Ltd. (South Korea) 54 76,746
Semtech Corp.(NON) 173 5,289
Silicon Image, Inc.(NON) 788 3,633
SK Hynix, Inc. (South Korea)(NON) 780 18,988
Sparton Corp.(NON) 174 2,495
TPK Holding Co., Ltd. (Taiwan) 1,000 18,984
Tripod Technology Corp. (Taiwan) 2,440 5,068
494,129
Energy (oil field) (1.6%)
Eurasia Drilling Co., Ltd. GDR (Russia) 228 8,728
Helix Energy Solutions Group, Inc.(NON) 503 11,775
Key Energy Services, Inc.(NON) 782 6,710
Oceaneering International, Inc. 475 30,205
Oil States International, Inc.(NON) 267 20,332
Petrofac, Ltd. (United Kingdom) 1,123 24,769
Schlumberger, Ltd. 3,246 252,701
355,220
Engineering and construction (0.7%)
Aecom Technology Corp.(NON) 661 20,035
China Railway Group, Ltd. Class H (China) 13,000 7,060
CTCI Corp. (Taiwan) 4,000 7,984
Daelim Industrial Co., Ltd. (South Korea) 106 9,410
JGC Corp. (Japan) 1,000 27,584
KBR, Inc. 817 24,829
McDermott International, Inc.(NON) 1,763 22,425
Samsung Engineering Co., Ltd. (South Korea) 33 4,671
Singapore Technologies Engineering, Ltd. (Singapore) 2,000 6,852
Vinci SA (France) 601 27,827
158,677
Entertainment (0.1%)
Carmike Cinemas, Inc.(NON) 221 3,461
Six Flags Entertainment Corp. 54 3,608
Town Sports International Holdings, Inc. 335 3,105
VOXX International Corp.(NON) 547 5,443
15,617
Environmental (0.1%)
Tetra Tech, Inc.(NON) 111 3,203
Coway Co., Ltd. (South Korea) 310 14,266
17,469
Financial (1.0%)
3i Group PLC (United Kingdom) 2,363 11,454
BM&F Bovespa SA (Brazil) 955 6,470
CIT Group, Inc.(NON) 1,332 55,758
CoreLogic, Inc.(NON) 1,634 42,337
Credit Acceptance Corp.(NON) 54 5,969
Hana Financial Group, Inc. (South Korea) 270 10,035
Nasdaq OMX Group, Inc. (The) 1,086 34,383
ORIX Corp. (Japan) 160 17,804
Power Finance Corp., Ltd. (India) 2,337 8,661
Rural Electrification Corp., Ltd. (India) 1,886 7,930
WageWorks, Inc.(NON) 131 3,093
203,894
Food (1.9%)
Ajinomoto Co., Inc. (Japan) 1,000 13,263
Associated British Foods PLC (United Kingdom) 634 17,783
BRF - Brasil Foods SA ADR (Brazil) 89 1,922
Bunge, Ltd. 36 2,668
Calbee, Inc. (Japan) 200 17,044
Chaoda Modern Agriculture Holdings, Ltd. (China)(F)(NON) 2,000 129
Chiquita Brands International, Inc.(NON) 31 193
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR (Preference) (Brazil) 232 11,758
Distribuidora Internacional de Alimentacion SA (Spain) 2,039 15,891
General Mills, Inc. 1,762 81,493
Glanbia PLC (Ireland) 112 1,296
Hain Celestial Group, Inc. (The)(NON) 59 3,230
Ingredion, Inc. 37 2,449
IOI Corp. Bhd (Malaysia) 1,000 1,587
JM Smucker Co. (The) 387 36,881
Kraft Foods Group, Inc. 1,630 79,006
Kuala Lumpur Kepong Bhd (Malaysia) 200 1,340
M Dias Branco SA (Brazil) 129 4,953
Magnit OJSC GDR (Russia) 317 13,452
Maple Leaf Foods, Inc. (Canada) 72 919
Nestle SA (Switzerland) 827 57,714
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk (Indonesia) 3,500 752
Sao Martinho SA (Brazil) 530 7,470
Shoprite Holdings, Ltd. (South Africa) 575 10,967
Smithfield Foods, Inc.(NON) 40 890
Suedzucker AG (Germany) 414 18,131
Tate & Lyle PLC (United Kingdom) 127 1,564
Tesco PLC (United Kingdom) 1,130 6,328
Unilever PLC (United Kingdom) 382 15,194
Wilmar International, Ltd. (Singapore) 1,000 2,867
429,134
Forest products and packaging (0.3%)
Bemis Co., Inc. 468 17,475
Buckeye Technologies, Inc. 149 4,132
Domtar Corp. (Canada) 180 13,421
KapStone Paper and Packaging Corp. 191 5,088
Packaging Corp. of America 427 17,840
Sealed Air Corp. 346 7,685
65,641
Gaming and lottery (—%)
OPAP SA (Greece) 959 8,143
8,143
Health-care services (2.8%)
Air Methods Corp. 104 4,658
Alfresa Holdings Corp. (Japan) 200 9,847
Amedisys, Inc.(NON) 317 3,582
AmerisourceBergen Corp. 1,576 74,387
AmSurg Corp.(NON) 125 3,775
athenahealth, Inc.(NON) 44 4,127
Bio-Reference Labs, Inc.(NON) 50 1,324
Centene Corp.(NON) 39 1,756
CIGNA Corp. 1,659 96,985
Community Health Systems, Inc. 100 4,226
Computer Programs & Systems, Inc. 34 1,773
Diagnosticos da America SA (Brazil) 1,038 7,158
HCA Holdings, Inc. 1,171 43,432
Health Net, Inc.(NON) 120 3,089
HealthSouth Corp.(NON) 240 5,789
Magellan Health Services, Inc.(NON) 46 2,372
McKesson Corp. 1,258 133,512
MedAssets, Inc.(NON) 363 6,705
Omega Healthcare Investors, Inc.(R) 326 9,125
Omnicare, Inc. 190 7,079
Pharmacyclics, Inc.(NON) 23 2,019
Providence Service Corp. (The)(NON) 458 7,823
Sinopharm Group Co. (China) 2,000 6,325
Suzuken Co., Ltd. (Japan) 200 6,956
Triple-S Management Corp. Class B (Puerto Rico)(NON) 97 1,742
Ventas, Inc.(R) 850 60,163
WellCare Health Plans, Inc.(NON) 186 10,637
WellPoint, Inc. 1,825 113,479
633,845
Homebuilding (0.2%)
PulteGroup, Inc.(NON) 1,900 36,442
Ryland Group, Inc. (The) 235 8,394
44,836
Household furniture and appliances (0.1%)
La-Z-Boy, Inc. 523 9,581
Select Comfort Corp.(NON) 134 2,751
Tempur-Pedic International, Inc.(NON) 144 5,914
18,246
Insurance (3.7%)
Ageas (Belgium) 526 17,862
AIA Group, Ltd. (Hong Kong) 4,400 19,077
Alleghany Corp.(NON) 123 46,478
Allianz SE (Germany) 126 17,219
Allied World Assurance Co. Holdings AG 409 35,914
American Equity Investment Life Holding Co. 376 5,219
American Financial Group, Inc. 704 30,948
American International Group, Inc.(NON) 3,567 135,582
Amtrust Financial Services, Inc. 92 3,059
Aon PLC 1,858 113,505
AXA SA (France) 1,286 22,242
Axis Capital Holdings, Ltd. 864 35,191
Berkshire Hathaway, Inc. Class B(NON) 521 53,225
CNO Financial Group, Inc. 400 4,376
Discovery Holdings, Ltd. (South Africa) 1,429 11,910
Fidelity National Financial, Inc. Class A 1,690 42,149
Genworth Financial, Inc. Class A(NON) 5,737 48,994
Insurance Australia Group, Ltd. (Australia) 4,914 28,556
Maiden Holdings, Ltd. (Bermuda) 328 3,306
Muenchener Rueckversicherungs AG (Germany) 98 17,591
PartnerRe, Ltd. 483 43,103
Porto Seguro SA (Brazil) 859 11,392
Protective Life Corp. 865 27,611
Prudential PLC (United Kingdom) 1,281 19,011
Standard Life PLC (United Kingdom) 2,723 14,522
Symetra Financial Corp. 328 4,320
Validus Holdings, Ltd. 843 30,036
842,398
Investment banking/Brokerage (1.3%)
Deutsche Bank AG (Germany) 431 19,686
E*Trade Financial Corp.(NON) 219 2,345
Eaton Vance Corp. 893 34,104
Goldman Sachs Group, Inc. (The) 1,464 219,249
National Financial Partners Corp.(NON) 157 3,087
UBS AG (Switzerland) 904 14,199
Virtus Investment Partners, Inc.(NON) 29 4,872
297,542
Leisure (—%)
Brunswick Corp. 107 3,899
3,899
Lodging/Tourism (0.6%)
Kangwon Land, Inc. (South Korea) 440 13,348
Marcus Corp. 368 4,493
MGM China Holdings, Ltd. (Hong Kong) 8,400 20,262
SJM Holdings, Ltd. (Hong Kong) 7,000 17,509
Wyndham Worldwide Corp. 758 45,662
Wynn Resorts, Ltd. 386 45,123
146,397
Machinery (0.9%)
AGCO Corp.(NON) 78 4,015
Altra Holdings, Inc. 298 7,671
Chart Industries, Inc.(NON) 126 9,143
CNH Global NV 59 2,614
Cummins, Inc. 783 90,726
Deere & Co. 46 4,040
DXP Enterprises, Inc.(NON) 80 4,976
Franklin Electric Co., Inc. 101 6,572
Gardner Denver, Inc. 290 20,587
Hyster-Yale Materials Holdings, Inc. 28 1,434
Hyster-Yale Materials Holdings, Inc. Class B(F) 28 1,434
IHI Corp. (Japan) 4,000 11,219
Kadant, Inc.(NON) 202 4,959
Lindsay Corp. 29 2,478
NACCO Industries, Inc. Class A 28 1,627
Schindler Holding AG (Switzerland) 125 19,325
Terex Corp.(NON) 654 21,458
214,278
Manufacturing (0.7%)
AZZ, Inc. 97 4,332
Chase Corp. 156 2,939
Generac Holdings, Inc. 178 6,132
Greenbrier Companies, Inc.(NON) 368 7,452
Ingersoll-Rand PLC 1,304 68,656
Invensys PLC (United Kingdom) 2,664 14,442
Leggett & Platt, Inc. 848 25,932
Standex International Corp. 79 4,252
TriMas Corp.(NON) 333 9,554
Valmont Industries, Inc. 59 9,295
152,986
Media (—%)
Demand Media, Inc.(NON) 146 1,183
1,183
Medical technology (1.1%)
Alere, Inc.(NON) 382 8,694
Align Technology, Inc.(NON) 88 2,767
Coloplast A/S Class B (Denmark) 405 21,128
Conmed Corp. 261 8,120
CSL, Ltd. (Australia) 324 19,833
Cyberonics, Inc.(NON) 42 1,922
Greatbatch, Inc.(NON) 333 9,014
Haemonetics Corp.(NON) 98 4,043
Hill-Rom Holdings, Inc. 199 6,523
OraSure Technologies, Inc.(NON) 359 1,996
St. Jude Medical, Inc. 1,927 79,007
STAAR Surgical Co.(NON) 807 4,350
Steris Corp. 91 3,549
TearLab Corp.(NON) 303 1,794
Trinity Biotech PLC ADR (Ireland) 156 2,636
Zimmer Holdings, Inc. 1,081 81,032
256,408
Metals (0.9%)
Assa Abloy AB Class B (Sweden) 477 18,898
BHP Billiton PLC (United Kingdom) 566 17,909
BHP Billiton, Ltd. (Australia) 984 36,937
Carpenter Technology Corp. 70 3,306
Evraz PLC (United Kingdom) 5,772 23,756
Horsehead Holding Corp.(NON) 553 5,845
L.B. Foster Co. Class A 56 2,473
MMG, Ltd. (Australia)(NON) 20,000 8,865
NN, Inc.(NON) 397 3,438
Rio Tinto PLC (United Kingdom) 546 29,354
Rio Tinto, Ltd. (Australia) 298 20,307
Sung Kwang Bend Co., Ltd. (South Korea) 366 8,042
Vale SA ADR (Preference) (Brazil) 266 4,886
Vale SA ADR (Brazil) 185 3,513
voestalpine AG (Austria) 502 16,955
204,484
Natural gas utilities (0.4%)
Kinder Morgan, Inc./DE 1,726 63,983
UGI Corp. 599 21,456
85,439
Office equipment and supplies (0.3%)
Avery Dennison Corp. 585 23,897
Staples, Inc. 3,500 46,130
70,027
Oil and gas (7.4%)
BP PLC (United Kingdom) 5,002 33,687
Cabot Oil & Gas Corp. 825 51,125
Cairn India, Ltd. (India) 1,414 7,764
Caltex Australia, Ltd. (Australia) 1,005 20,465
Chevron Corp. 928 108,715
CNOOC, Ltd. (China) 12,000 23,444
ConocoPhillips 3,426 198,537
CVR Energy, Inc. (Escrow) 236 —
Delek US Holdings, Inc. 140 5,230
Dragon Oil PLC (Turkmenistan) 1,234 11,543
ENI SpA (Italy) 1,195 27,176
EPL Oil & Gas, Inc.(NON) 262 6,741
Exxon Mobil Corp. 3,349 299,903
Ezion Holdings, Ltd. (Singapore) 4,000 6,431
Gulfport Energy Corp.(NON) 65 2,662
Helmerich & Payne, Inc. 434 28,757
HollyFrontier Corp. 807 45,353
Kodiak Oil & Gas Corp.(NON) 424 3,774
Lukoil OAO ADR (Russia) 465 30,100
Marathon Petroleum Corp. 1,143 94,732
Occidental Petroleum Corp. 2,256 185,736
ONEOK, Inc. 923 41,526
Pacific Rubiales Energy Corp. (Colombia) 476 11,655
Petroleo Brasileiro SA ADR (Preference) (Brazil) 879 14,706
Petroleo Brasileiro SA ADR (Brazil) 249 3,653
Phillips 66 1,930 121,513
Repsol YPF SA (Spain) 581 12,321
Rosetta Resources, Inc.(NON) 61 2,969
Royal Dutch Shell PLC Class A (United Kingdom) 919 30,257
Royal Dutch Shell PLC Class B (United Kingdom) 865 29,183
Statoil ASA (Norway) 530 13,139
Stone Energy Corp.(NON) 174 3,558
Surgutneftegas OAO (Preference)(Russia)(NON) 11,762 8,678
Swift Energy Co.(NON) 230 3,110
Tesoro Corp. 865 48,648
Total SA (France) 498 24,888
Unit Corp.(NON) 81 3,684
Vaalco Energy, Inc.(NON) 930 7,542
Valero Energy Corp. 1,909 87,031
W&T Offshore, Inc. 171 2,541
Western Refining, Inc. 264 9,475
1,671,952
Pharmaceuticals (4.9%)
AstraZeneca PLC (United Kingdom) 415 18,823
Bayer AG (Germany) 234 23,179
Bristol-Myers Squibb Co. 4,058 150,024
Dong-A Pharmaceutical Co., Ltd. (South Korea) 81 9,321
Elan Corp. PLC ADR (Ireland)(NON) 407 4,615
Eli Lilly & Co. 2,488 135,994
Endo Health Solutions, Inc.(NON) 159 4,929
Gentium SpA ADR (Italy)(NON) 143 1,193
GlaxoSmithKline PLC (United Kingdom) 1,252 27,601
Hi-Tech Pharmacal Co., Inc. 61 2,258
Impax Laboratories, Inc.(NON) 273 5,414
Jazz Pharmaceuticals PLC(NON) 307 17,861
Johnson & Johnson 1,164 88,592
Merck & Co., Inc. 574 24,527
Novartis AG (Switzerland) 397 26,888
Novo Nordisk A/S Class B (Denmark) 207 36,207
Obagi Medical Products, Inc.(NON) 504 6,794
Orion OYJ Class B (Finland) 527 15,562
Otsuka Holdings Company, Ltd. (Japan) 800 25,612
Pfizer, Inc. 12,989 355,509
PharMerica Corp.(NON) 255 3,654
Questcor Pharmaceuticals, Inc. 43 1,402
Roche Holding AG-Genusschein (Switzerland) 241 54,948
Salix Pharmaceuticals, Ltd.(NON) 380 18,563
Sanofi (France) 286 27,004
Santarus, Inc.(NON) 133 1,765
ViroPharma, Inc.(NON) 273 6,809
Warner Chilcott PLC Class A 1,534 20,724
1,115,772
Photography/Imaging (0.1%)
Konica Minolta Holdings, Inc. (Japan) 2,000 15,265
15,265
Publishing (0.5%)
Gannett Co., Inc. 1,428 28,660
McGraw-Hill Cos., Inc. (The) 1,178 54,836
Reed Elsevier PLC (United Kingdom) 2,057 22,140
105,636
Railroads (0.2%)
Central Japan Railway Co. (Japan) 400 38,870
Hankyu Hanshin Holdings, Inc. (Japan) 3,000 16,474
55,344
Real estate (3.4%)
AG Mortgage Investment Trust, Inc.(R) 92 2,413
Agree Realty Corp.(R) 171 4,800
Amata Corp. PLC (Thailand) 9,000 7,714
American Capital Agency Corp.(R) 1,122 35,590
American Capital Mortgage Investment Corp.(R) 161 4,138
Apollo Commercial Real Estate Finance, Inc.(R) 183 3,157
Apollo Residential Mortgage, Inc. 171 3,827
Arlington Asset Investment Corp. Class A 110 2,838
ARMOUR Residential REIT, Inc.(R) 491 3,285
Ashford Hospitality Trust, Inc.(R) 582 6,850
AvalonBay Communities, Inc.(R) 299 37,324
BR Properties SA (Brazil) 400 4,971
C C Land Holdings, Ltd. (China) 19,702 6,463
CBL & Associates Properties, Inc.(R) 582 13,235
Chimera Investment Corp.(R) 5,336 15,901
China Overseas Grand Oceans Group, Ltd. (China)(S) 11,000 15,473
China Overseas Land & Investment, Ltd. (China) 4,000 12,157
CYS Investments, Inc.(R) 302 3,582
Dexus Property Group (Australia) 15,158 16,879
Dynex Capital, Inc.(R) 453 4,906
EPR Properties(R) 59 2,879
Federal Realty Investment Trust(R) 231 24,535
First Industrial Realty Trust(NON)(R) 193 3,063
Glimcher Realty Trust(R) 369 4,155
Hatteras Financial Corp.(R) 424 11,317
Health Care REIT, Inc.(R) 806 51,697
HFF, Inc. Class A 545 10,006
Housing Development & Infrastructure, Ltd. (India)(NON) 3,862 4,289
Huaku Development Co., Ltd. (Taiwan) 3,000 7,466
Invesco Mortgage Capital, Inc.(R) 147 3,090
Investors Real Estate Trust(R) 439 4,175
iStar Financial, Inc.(NON)(R) 361 3,606
Jones Lang LaSalle, Inc. 70 6,765
Lexington Realty Trust(R) 1,217 13,947
LTC Properties, Inc.(R) 207 7,984
MFA Financial, Inc.(R) 498 4,422
National Health Investors, Inc.(R) 195 12,636
One Liberty Properties, Inc.(R) 200 4,344
PS Business Parks, Inc.(R) 130 9,619
Public Storage(R) 422 63,811
Simon Property Group, Inc.(R) 772 122,640
St. Joe Co. (The)(NON) 712 15,878
Starwood Property Trust, Inc.(R) 112 3,130
Stockland (Units) (Australia)(R) 4,342 16,648
Summit Hotel Properties, Inc.(R) 538 5,165
Sun Communities, Inc.(R) 90 4,188
Surya Semesta Internusa Tbk PT (Indonesia) 75,000 11,644
Tanger Factory Outlet Centers(R) 385 13,587
Tokyu Land Corp. (Japan) 4,000 30,186
Universal Health Realty Income Trust(R) 46 2,627
Vornado Realty Trust(R) 572 45,880
Westfield Group (Australia) 1,227 13,995
Wheelock and Co., Ltd. (Hong Kong) 4,000 21,863
766,740
Regional Bells (0.4%)
AT&T, Inc. 2,562 92,001
92,001
Restaurants (0.1%)
AFC Enterprises(NON) 581 17,430
Brinker International, Inc. 233 7,778
Domino's Pizza, Inc. 46 2,191
Papa John's International, Inc.(NON) 60 3,121
30,520
Retail (7.6%)
Advance Auto Parts, Inc. 409 31,223
Aeon Co., Ltd. (Japan) 1,000 11,239
American Eagle Outfitters, Inc. 1,213 25,085
Bed Bath & Beyond, Inc.(NON) 1,029 58,396
Big Lots, Inc.(NON) 687 22,877
BR Malls Participacoes SA (Brazil) 940 12,157
Buckle, Inc. (The) 72 3,226
Cabela's, Inc.(NON) 98 4,958
Cash America International, Inc. 41 2,076
Chico's FAS, Inc. 1,104 18,746
Cie Financiere Richemont SA (Switzerland) 382 30,539
Coach, Inc. 1,207 58,334
Compagnie Financiere Richemont SA (Switzerland) 1,164 9,294
Crocs, Inc.(NON) 122 1,850
CVS Caremark Corp. 2,999 153,309
Deckers Outdoor Corp.(NON) 43 1,735
Destination Maternity Corp. 315 7,053
Dillards, Inc. Class A 219 17,450
Elders, Ltd. (Australia)(NON) 1,605 238
Foot Locker, Inc. 849 29,027
Foschini Group, Ltd. (The) (South Africa) 764 9,057
Francesca's Holdings Corp.(NON) 115 2,927
GameStop Corp. Class A 157 3,934
Gap, Inc. (The) 1,467 48,294
Genesco, Inc.(NON) 110 6,455
Home Depot, Inc. (The) 3,752 257,011
KAR Auction Services, Inc. 235 4,987
Koninklijke Ahold NV (Netherlands) 1,189 17,038
Lowe's Cos., Inc. 4,110 156,797
Lumber Liquidators Holdings, Inc.(NON) 31 1,835
Macy's, Inc. 1,729 71,062
Mitra Adiperkasa Tbk PT (Indonesia) 6,500 5,247
Next PLC (United Kingdom) 473 30,091
O'Reilly Automotive, Inc.(NON) 550 55,957
PetSmart, Inc. 545 35,485
Pier 1 Imports, Inc. 93 2,090
Sonic Automotive, Inc. Class A 814 18,185
Tile Shop Holdings, Inc.(NON) 148 2,609
TJX Cos., Inc. (The) 2,696 121,239
USANA Health Sciences, Inc.(NON) 37 1,639
Wal-Mart Stores, Inc. 3,534 250,136
Walgreen Co. 2,299 94,121
Woolworths, Ltd. (Australia) 678 24,120
1,719,128
Schools (0.1%)
Anhanguera Educacional Participacoes SA (Brazil) 435 9,010
Apollo Group, Inc. Class A(NON) 171 2,885
Bright Horizons Family Solutions, Inc.(NON) 92 2,572
14,467
Semiconductor (0.5%)
ASML Holding NV (Netherlands) 208 14,746
Cypress Semiconductor Corp.(NON) 1,494 15,732
Entegris, Inc.(NON) 505 4,803
Lam Research Corp.(NON) 785 33,206
Photronics, Inc.(NON) 488 3,240
Rudolph Technologies, Inc.(NON) 389 4,287
Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan) 3,000 10,572
Teradyne, Inc.(NON) 1,463 24,520
Ultra Clean Holdings, Inc.(NON) 445 2,626
113,732
Shipping (0.2%)
Aegean Marine Petroleum Network, Inc. (Greece) 756 4,922
Quality Distribution, Inc.(NON) 369 2,911
Swift Transportation Co.(NON) 629 8,510
Wabtec Corp. 273 26,697
43,040
Software (3.7%)
BMC Software, Inc.(NON) 1,470 58,903
Changyou.com, Ltd. ADR (China) 271 8,076
IntraLinks Holdings, Inc.(NON) 703 4,134
Manhattan Associates, Inc.(NON) 87 6,078
Mantech International Corp. Class A 94 2,332
Microsoft Corp. 9,683 269,187
MicroStrategy, Inc.(NON) 32 3,260
NTT Data Corp. (Japan) 3 9,521
Oracle Corp. 9,011 308,717
Oracle Corp. Japan (Japan) 300 12,618
PTC, Inc.(NON) 152 3,517
QLIK Technologies, Inc.(NON) 118 3,068
Rovi Corp.(NON) 258 4,590
Safeguard Scientifics, Inc.(NON) 163 2,468
SAP AG (Germany) 106 8,274
Symantec Corp.(NON) 4,540 106,418
Tencent Holdings, Ltd. (China) 200 6,920
Ultimate Software Group, Inc.(NON) 72 7,075
825,156
Staffing (0.2%)
Barrett Business Services, Inc. 125 5,460
On Assignment, Inc.(NON) 193 4,219
Robert Half International, Inc. 771 27,409
37,088
Technology (0.1%)
Softbank Corp. (Japan) 400 14,815
14,815
Technology services (2.6%)
Accenture PLC Class A 2,527 187,908
Acxiom Corp.(NON) 356 6,483
AOL, Inc.(NON) 1,436 52,988
CSG Systems International, Inc.(NON) 76 1,475
Fair Isaac Corp. 121 5,365
Google, Inc. Class A(NON) 251 201,101
IBM Corp. 508 102,022
LivePerson, Inc.(NON) 188 2,720
NHN Corp. (South Korea) 30 7,261
NIC, Inc. 146 2,587
Perficient, Inc.(NON) 257 2,976
Sourcefire, Inc.(NON) 61 3,271
Tyler Technologies, Inc.(NON) 67 3,779
Yandex NV Class A (Russia)(NON) 628 14,563
594,499
Telecommunications (1.0%)
Allot Communications, Ltd. (Israel)(NON) 101 1,387
America Movil SAB de CV ADR Ser. L (Mexico) 331 6,915
Aruba Networks, Inc.(NON) 160 3,987
BroadSoft, Inc.(NON) 34 714
BT Group PLC (United Kingdom) 4,112 16,703
CalAmp Corp.(NON) 309 3,384
EchoStar Corp. Class A(NON) 702 26,564
France Telecom SA (France) 1,115 10,770
InterDigital, Inc. 36 1,598
InterXion Holding NV (Netherlands)(NON) 143 3,536
Loral Space & Communications, Inc. 72 4,193
MetroPCS Communications, Inc.(NON) 2,213 21,687
NeuStar, Inc. Class A(NON) 128 5,613
NTT DoCoMo, Inc. (Japan) 10 15,466
ShoreTel, Inc.(NON) 664 2,696
Tele2 AB Class B (Sweden) 689 10,948
Telefonica SA (Spain) 1,115 14,564
Telekomunikasi Indonesia Persero Tbk PT (Indonesia) 9,500 10,568
Telenor ASA (Norway) 693 14,924
Telstra Corp., Ltd. (Australia) 4,295 20,119
Turkcell Iletisim Hizmetleri AS (Turkey)(NON) 1,866 12,370
USA Mobility, Inc. 222 2,580
Vodafone Group PLC (United Kingdom) 5,552 13,938
225,224
Telephone (1.4%)
Deutsche Telekom AG (Germany) 1,188 12,743
tw telecom, inc.(NON) 962 24,358
Verizon Communications, Inc. 6,146 285,973
323,074
Textiles (—%)
G&K Services, Inc. Class A 86 3,584
3,584
Tire and rubber (0.1%)
Cie Generale des Etablissements Michelin (France) 201 17,963
Cooper Tire & Rubber Co. 468 11,831
29,794
Tobacco (1.7%)
British American Tobacco (BAT) PLC (United Kingdom) 341 17,767
Japan Tobacco, Inc. (Japan) 500 15,773
Lorillard, Inc. 1,203 46,364
Philip Morris International, Inc. 3,293 302,133
382,037
Toys (—%)
Namco Bandai Holdings, Inc. (Japan) 700 11,126
11,126
Transportation (0.1%)
Jaypee Infratech, Ltd. (India)(NON) 5,312 4,382
TAL International Group, Inc. 191 8,223
12,605
Transportation services (0.2%)
Airports of Thailand PCL (Thailand) 2,000 7,933
ComfortDelgro Corp., Ltd. (Singapore) 8,000 12,379
TAV Havalimanlari Holding AS (Turkey) 2,095 12,745
Universal Truckload Services, Inc. 193 3,520
36,577
Trucks and parts (0.5%)
Delphi Automotive PLC (United Kingdom)(NON) 1,656 69,317
Hyundai Mobis Co., Ltd. (South Korea) 58 16,705
Miller Industries, Inc. 201 3,200
Standard Motor Products, Inc. 296 7,320
WABCO Holdings, Inc.(NON) 369 25,358
121,900
Water Utilities (0.2%)
American Water Works Co., Inc. 818 32,270
United Utilities Group PLC (United Kingdom) 1,897 21,181
53,451
Total common stocks (cost $16,811,642) $20,847,782

INVESTMENT COMPANIES (4.0%)(a)
Shares Value
CSOP FTSE China A50 ETF (China)(NON) 1,800 $2,563
iShares FTSE A50 China Index ETF (China) 3,500 5,159
iShares MSCI EAFE Index Fund 1,290 75,052
SPDR S&P 500 ETF Trust 5,024 761,287
SPDR S&P Midcap 400 ETF Trust 290 58,148
Total investment Companies (cost $764,435) $902,209

SHORT-TERM INVESTMENTS (4.8%)(a)
Principal amount/shares Value
Putnam Short Term Investment Fund 0.10%(AFF) 972,444 $972,444
Putnam Cash Collateral Pool, LLC 0.21%(d) 4,500 4,500
U.S. Treasury Bills with effective yields ranging from 0.129% to 0.130%, January 9, 2014(SEG) $49,000 48,939
U.S. Treasury Bills with effective yields ranging from 0.165% to 0.171%, May 30, 2013(SEG) 60,000 59,966
Total short-term investments (cost $1,085,863) $1,085,849

TOTAL INVESTMENTS
Total investments (cost $18,661,940)(b) $22,835,840













FORWARD CURRENCY CONTRACTS at 2/28/13 (aggregate face value $12,182,279) (Unaudited)


Unrealized
Contract Delivery Aggregate appreciation/
Counterparty Currency type date Value face value (depreciation)
Bank of America N.A.
British Pound Sell 3/20/13 $26,698 $27,175 $477
Canadian Dollar Sell 4/17/13 397,164 409,463 12,299
Chilean Peso Buy 4/17/13 25,815 25,758 57
Euro Buy 3/20/13 269,888 281,207 (11,319)
Japanese Yen Sell 5/15/13 18,728 18,768 40
Peruvian New Sol Buy 4/17/13 38,843 38,935 (92)
Swedish Krona Buy 3/20/13 193,085 197,674 (4,589)
Swiss Franc Sell 3/20/13 81,846 83,394 1,548
Barclays Bank PLC
Australian Dollar Buy 4/17/13 32,170 32,364 (194)
Australian Dollar Sell 4/17/13 32,170 32,742 572
Brazilian Real Buy 4/17/13 28,696 28,599 97
British Pound Buy 3/20/13 126,966 130,449 (3,483)
Canadian Dollar Sell 4/17/13 17,436 17,207 (229)
Chilean Peso Buy 4/17/13 34,739 34,638 101
Czech Koruna Buy 3/20/13 25,951 26,686 (735)
Czech Koruna Sell 3/20/13 25,951 26,663 712
Euro Buy 3/20/13 339,743 357,845 (18,102)
Hong Kong Dollar Buy 5/15/13 25,383 25,393 (10)
Indonesian Rupiah Buy 5/15/13 20,103 20,055 48
Japanese Yen Sell 5/15/13 304,009 304,633 624
Malaysian Ringgit Buy 5/15/13 21,543 21,502 41
Mexican Peso Buy 4/17/13 30,577 30,825 (248)
New Taiwan Dollar Buy 5/15/13 5,750 5,799 (49)
Norwegian Krone Sell 3/20/13 48,102 50,198 2,096
Polish Zloty Buy 3/20/13 2,263 2,630 (367)
Russian Ruble Buy 3/20/13 57,722 58,726 (1,004)
Singapore Dollar Sell 5/15/13 33,591 33,590 (1)
South Korean Won Buy 5/15/13 18,718 18,642 76
Swedish Krona Sell 3/20/13 64,484 66,882 2,398
Swiss Franc Buy 3/20/13 108,203 111,202 (2,999)
Turkish Lira Buy 3/20/13 22,572 23,052 (480)
Citibank, N.A.
Australian Dollar Sell 4/17/13 37,362 38,513 1,151
Brazilian Real Buy 4/17/13 35,380 35,413 (33)
British Pound Buy 3/20/13 86,616 89,318 (2,702)
Canadian Dollar Sell 4/17/13 11,818 12,197 379
Czech Koruna Buy 3/20/13 12,739 13,269 (530)
Czech Koruna Sell 3/20/13 12,739 13,226 487
Danish Krone Sell 3/20/13 4,781 4,975 194
Euro Buy 3/20/13 113,074 118,226 (5,152)
Euro Sell 3/20/13 113,074 115,260 2,186
Japanese Yen Sell 5/15/13 222,768 223,347 579
Singapore Dollar Buy 5/15/13 38,194 38,209 (15)
South Korean Won Buy 5/15/13 18,526 18,435 91
Swiss Franc Sell 3/20/13 42,150 44,354 2,204
Thai Baht Buy 5/15/13 20,271 20,201 70
Turkish Lira Buy 3/20/13 34,053 34,610 (557)
Credit Suisse International
Australian Dollar Buy 4/17/13 100,379 102,605 (2,226)
Brazilian Real Buy 4/17/13 28,696 28,533 163
British Pound Buy 3/20/13 248,926 257,742 (8,816)
Chilean Peso Buy 4/17/13 25,815 25,745 70
Chinese Yuan Buy 5/15/13 25,799 25,755 44
Czech Koruna Buy 3/20/13 12,734 13,263 (529)
Czech Koruna Sell 3/20/13 12,734 13,203 469
Euro Buy 3/20/13 23,764 27,503 (3,739)
Japanese Yen Buy 5/15/13 549,368 550,870 (1,502)
Mexican Peso Buy 4/17/13 44,486 44,839 (353)
Norwegian Krone Buy 3/20/13 73,450 76,845 (3,395)
Philippine Peso Buy 5/15/13 11,328 11,373 (45)
Polish Zloty Buy 3/20/13 13,011 13,411 (400)
Russian Ruble Buy 3/20/13 44,475 45,265 (790)
South Korean Won Buy 5/15/13 23,077 22,954 123
Swedish Krona Buy 3/20/13 22,026 22,607 (581)
Swedish Krona Sell 3/20/13 22,026 22,507 481
Swiss Franc Buy 3/20/13 25,717 25,378 339
Turkish Lira Buy 3/20/13 33,387 34,089 (702)
Deutsche Bank AG
Brazilian Real Buy 4/17/13 32,264 32,440 (176)
British Pound Buy 3/20/13 82,066 85,241 (3,175)
Canadian Dollar Buy 4/17/13 128,158 133,358 (5,200)
Euro Sell 3/20/13 39,171 40,997 1,826
Japanese Yen Sell 5/15/13 47,925 48,034 109
Mexican Peso Buy 4/17/13 34,969 35,175 (206)
Norwegian Krone Sell 3/20/13 15,564 15,405 (159)
Polish Zloty Buy 3/20/13 20,271 20,887 (616)
Singapore Dollar Buy 5/15/13 21,237 21,236 1
South Korean Won Buy 5/15/13 22,292 22,197 95
Swedish Krona Buy 3/20/13 26,307 26,799 (492)
Swedish Krona Sell 3/20/13 26,307 26,930 623
Swiss Franc Sell 3/20/13 36,601 38,055 1,454
Turkish Lira Buy 3/20/13 18,413 18,797 (384)
Goldman Sachs International
British Pound Buy 3/20/13 28,973 29,635 (662)
Canadian Dollar Sell 4/17/13 22,377 22,446 69
Euro Sell 3/20/13 16,191 16,461 270
Japanese Yen Buy 5/15/13 223,210 224,012 (802)
Norwegian Krone Sell 3/20/13 22,127 22,272 145
HSBC Bank USA, National Association
British Pound Sell 3/20/13 89,043 93,397 4,354
Canadian Dollar Sell 4/17/13 33,614 34,050 436
Euro Buy 3/20/13 211,001 221,464 (10,463)
Japanese Yen Sell 5/15/13 168,747 168,886 139
Norwegian Krone Buy 3/20/13 140,632 147,343 (6,711)
Philippine Peso Buy 5/15/13 19,401 19,492 (91)
Russian Ruble Buy 3/20/13 26,084 26,474 (390)
South Korean Won Buy 5/15/13 22,857 22,767 90
Swiss Franc Sell 3/20/13 63,065 64,882 1,817
Turkish Lira Buy 3/20/13 16,472 16,684 (212)
JPMorgan Chase Bank N.A.
Australian Dollar Buy 4/17/13 269,171 273,606 (4,435)
Brazilian Real Buy 4/17/13 25,228 25,096 132
British Pound Buy 3/20/13 83,430 86,039 (2,609)
Canadian Dollar Buy 4/17/13 94,544 98,042 (3,498)
Chilean Peso Buy 4/17/13 42,501 42,415 86
Chinese Yuan Buy 5/15/13 25,799 25,761 38
Czech Koruna Buy 3/20/13 18,149 18,701 (552)
Czech Koruna Sell 3/20/13 18,149 18,850 701
Euro Sell 3/20/13 615,637 640,835 25,198
Japanese Yen Sell 5/15/13 259,642 260,293 651
Malaysian Ringgit Buy 5/15/13 25,214 25,129 85
Mexican Peso Buy 4/17/13 169,362 170,694 (1,332)
New Taiwan Dollar Buy 5/15/13 12,377 12,477 (100)
Norwegian Krone Sell 3/20/13 185,112 194,793 9,681
Polish Zloty Buy 3/20/13 5,185 5,491 (306)
Russian Ruble Buy 3/20/13 45,094 45,855 (761)
South Korean Won Buy 5/15/13 28,761 28,592 169
Swedish Krona Sell 3/20/13 63,635 65,859 2,224
Swiss Franc Sell 3/20/13 71,708 74,229 2,521
Turkish Lira Buy 3/20/13 26,787 27,242 (455)
Royal Bank of Scotland PLC (The)
Euro Buy 3/20/13 79,909 83,541 (3,632)
Japanese Yen Buy 5/15/13 120,407 120,703 (296)
State Street Bank and Trust Co.
Australian Dollar Buy 4/17/13 13,947 13,737 210
Brazilian Real Buy 4/17/13 31,812 31,642 170
British Pound Sell 3/20/13 106,184 111,159 4,975
Canadian Dollar Buy 4/17/13 44,657 46,743 (2,086)
Chilean Peso Buy 4/17/13 45,409 45,404 5
Colombian Peso Buy 4/17/13 38,388 38,814 (426)
Czech Koruna Sell 3/20/13 1,562 1,747 185
Euro Buy 3/20/13 241,290 252,173 (10,883)
Japanese Yen Sell 5/15/13 36,584 36,835 251
Mexican Peso Buy 4/17/13 34,548 34,760 (212)
Norwegian Krone Sell 3/20/13 114,135 119,797 5,662
Polish Zloty Buy 3/20/13 4,463 4,736 (273)
South Korean Won Buy 5/15/13 34,254 34,105 149
Swedish Krona Buy 3/20/13 21,825 22,178 (353)
Swedish Krona Sell 3/20/13 21,825 21,812 (13)
Swiss Franc Sell 3/20/13 81,205 84,114 2,909
Turkish Lira Buy 3/20/13 24,846 25,368 (522)
UBS AG
Australian Dollar Buy 4/17/13 44,489 44,930 (441)
Australian Dollar Sell 4/17/13 44,489 44,754 265
British Pound Sell 3/20/13 35,648 37,634 1,986
Canadian Dollar Sell 4/17/13 368,782 379,953 11,171
Chilean Peso Buy 4/17/13 39,186 39,150 36
Czech Koruna Sell 3/20/13 9,370 9,670 300
Euro Sell 3/20/13 461,956 480,033 18,077
Japanese Yen Sell 5/15/13 79,710 79,884 174
Mexican Peso Buy 4/17/13 20,445 20,614 (169)
New Taiwan Dollar Buy 5/15/13 6,013 6,056 (43)
Norwegian Krone Buy 3/20/13 87,081 91,375 (4,294)
Philippine Peso Buy 5/15/13 8,078 8,106 (28)
Russian Ruble Buy 3/20/13 49,069 49,862 (793)
Singapore Dollar Buy 5/15/13 21,479 21,480 (1)
Swedish Krona Buy 3/20/13 205,079 209,881 (4,802)
Swiss Franc Sell 3/20/13 93,583 97,930 4,347
Turkish Lira Buy 3/20/13 19,578 19,988 (410)
WestPac Banking Corp.
Australian Dollar Buy 4/17/13 182,433 185,650 (3,217)
British Pound Sell 3/20/13 320,373 333,786 13,413
Canadian Dollar Buy 4/17/13 152,859 158,218 (5,359)
Euro Buy 3/20/13 113,987 120,007 (6,020)
Japanese Yen Sell 5/15/13 39,082 39,175 93
Mexican Peso Buy 4/17/13 12,122 12,224 (102)
Total $(16,622)












FUTURES CONTRACTS OUTSTANDING at 2/28/13 (Unaudited)


             Unrealized
Number of             Expiration appreciation/
contracts Value             date (depreciation)
Russell 2000 Index Mini (Long) 2 182,040             Mar-13 $12,179
S&P 500 Index E-Mini (Long) 5 378,325             Mar-13 23,040
S&P 500 Index E-Mini (Short) 1 75,663             Mar-13 (877)
S&P Mid Cap 400 Index E-Mini (Short) 3 330,510             Mar-13 (22,694)
SPI 200 Index (Short) 2 $259,704             Mar-13 224
Tokyo Price Index (Long) 4 419,031             Mar-13 63,323
Total $75,195












Key to holding's abbreviations
ADR American Depository Receipts: represents ownership of foreign securities on deposit with a custodian bank
ETF Exchange Traded Fund
GDR Global Depository Receipts: represents ownership of foreign securities on deposit with a custodian bank
NVDR Non-voting Depository Receipt
OAO Open Joint Stock Company
OJSC Open Joint Stock Company
SDR Swedish Depository Receipts: represents ownership of foreign securities on deposit with a custodian bank
SPDR S&P Depository Receipts
Notes to the fund's portfolio
Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from June 1, 2012 through February 28, 2013 (the reporting period). Within the following notes to the portfolio, references to “ASC 820” represent Accounting Standards Codification ASC 820 Fair Value Measurements and Disclosures, references to “Putnam Management” represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC and references to “OTC”, if any, represent over-the-counter.
(a) Percentages indicated are based on net assets of $22,588,869.
(b) The aggregate identified cost on a tax basis is $18,794,350, resulting in gross unrealized appreciation and depreciation of $4,352,454 and $310,964, respectively, or net unrealized appreciation of $4,041,490.
(NON) Non-income-producing security.
(AFF) Affiliated company. For investments in Putnam Short Term Investment Fund, the rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with a company which is under common ownership, or with companies in which the fund owned at least 5% of the voting securities, were as follows:
Name of affiliates Market value at the beginning of the reporting period Purchase cost Sale proceeds Investment income Market value at the end of the reporting period
Putnam Money Market Liquidity Fund * $658,914 $2,027,204 $2,686,118 $457 $—
Putnam Short Term Investment Fund * — 972,444 — 9972,444
Totals $658,914 $2,999,648 $2,686,118 $466$972,444
Market values are shown for those securities affiliated at period end.
* Management fees charged to Putnam Money Market Liquidity Fund and Putnam Short Term Investment Fund have been waived by Putnam Management.
(SEG) This security, in part or in entirety, was pledged and segregated with the broker to cover margin requirements for futures contracts at the close of the reporting period.
(d) Affiliated company. The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the market value of the securities loaned. The market value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The risk of borrower default will be borne by the fund’s agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. At the close of the reporting period, the value of securities loaned amounted to $4,216.
The fund received cash collateral of $4,500, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period.
(F) Is valued at fair value following procedures approved by the Trustees. Securities may be classified as Level 2 or Level 3 for ASC 820 based on the securities' valuation inputs. At the close of the reporting period, fair value pricing was also used for certain foreign securities in the portfolio.
(R) Real Estate Investment Trust.
(S) Security on loan, in part or in entirety, at the close of the reporting period.
At the close of the reporting period, the fund maintained liquid assets totaling $67,907 to cover certain derivatives contracts.
DIVERSIFICATION BY COUNTRY
Distribution of investments by country of risk at the close of the reporting period, excluding collateral received, if any (as a percentage of Portfolio Value):
United States 80.7 %
United Kingdom 3.2
Japan 2.7
Australia 1.4
Switzerland 1.2
France 1.1
Germany 1.0
China 1.0
South Korea 0.9
Brazil 0.5
Russia 0.5
Spain 0.5
Taiwan 0.5
Other 4.8
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, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security.
Investments in open-end investment companies (excluding exchange traded funds), if any, which can be classified as Level 1 or Level 2 securities, are based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares.
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 equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. These securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. 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. At the close of the reporting period, fair value pricing was used for certain foreign securities in the portfolio. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate.
To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures and recovery rates. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs.
Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.
Futures contracts: The fund used futures contracts to manage exposure to market ris and to equitize cash.
The potential risk to the fund is that the change in value of futures 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, if interest or exchange rates move unexpectedly or if the counterparty to the contract is unable to perform. With futures, there is minimal counterparty credit risk to the fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default. 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.
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”.
For the fund's average number of futures contracts, see the appropriate table at the end of these footnotes.
Forward currency contracts: The fund buys and sells forward currency contracts, which are agreements between two parties to buy and sell currencies at a set price on a future date. These contracts were used to hedge foreign exchange risk and to gain exposure on currency.
The U.S. dollar value of forward currency contracts is determined using current forward currency exchange rates supplied by a quotation service. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked to market daily and the change in market value is recorded as an unrealized gain or loss. 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 when the contract matures or by delivery of the currency. The fund could be exposed to risk if the value of the currency changes unfavorably, if the counterparties to the contracts are unable to meet the terms of their contracts or if the fund is unable to enter into a closing position.
For the fund's average contract amount on forward currency contracts, see the appropriate table at the end of these footnotes.
Master agreements: The fund is a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements (Master Agreements) with certain counterparties that govern OTC derivative and foreign exchange contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral posted to the fund is held in a segregated account by the fund’s custodian and with respect to those amounts which can be sold or repledged, are presented in the fund’s portfolio.
Collateral pledged by the fund is segregated by the fund’s custodian and identified in the fund’s portfolio. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by the fund and the applicable counterparty. Collateral requirements are determined based on the fund’s net position with each counterparty.
Termination events applicable to the fund may occur upon a decline in the fund’s net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty’s long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the fund’s counterparties to elect early termination could impact the fund's future derivative activity.
At the close of the reporting period, the fund had a net liability position of $69,435 on open derivative contracts subject to the Master Agreements. There was no collateral posted by the fund for these agreements












ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund’s investments. The three levels are defined as follows:
Level 1: Valuations based on quoted prices for identical securities in active markets.
Level 2: Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
Level 3: Valuations based on inputs that are unobservable and significant to the fair value measurement.
The following is a summary of the inputs used to value the fund’s net assets as of the close of the reporting period:

 Valuation inputs
Investments in securities: Level 1 Level 2 Level 3
Common stocks:
    Basic materials $790,310 $415,140 $—
    Capital goods 1,135,967 229,612 1,434
    Communication services 827,954 153,113 —
    Conglomerates 371,858 38,895 —
    Consumer cyclicals 2,034,907 457,286 —
    Consumer staples 1,491,740 429,529 129
    Energy 1,757,877 309,566 —
    Financials 2,836,491 1,016,905 —
    Health care 2,161,315 329,234 —
    Technology 2,773,740 328,825 —
    Transportation 189,003 114,653 —
    Utilities and power 537,955 114,344 —
Total common stocks 16,909,117 3,937,102 1,563
Investment companies $894,487 $7,722 $—
Short-term investments 972,444 113,405 —
Totals by level $18,776,048 $4,058,229 $1,563



Valuation inputs
Other financial instruments: Level 1 Level 2 Level 3
Forward currency contracts $— $(16,622) $—
Futures contracts 75,195 — —
Totals by level $75,195 $(16,622) $—


At the start and close of the reporting period, Level 3 investments in securities were not considered a significant portion of the fund's portfolio.
Market Values of Derivative Instruments as of the close of the reporting period
Asset derivatives Liability derivatives
Derivatives not accounted for as hedging instruments under ASC 815 Market value Market value
Foreign exchange contracts $147,508 $164,130
Equity contracts 98,766 23,571
Total $246,274 $187,701


The average volume of activity for the reporting period for any derivative type that was held at the close of the period is listed below and was as follows:
Futures contracts (number of contracts)20
Forward currency contracts (contract amount) $19,700,000

For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com



Item 2. Controls and Procedures:
(a) The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms.

(b) Changes in internal control over financial reporting: Not applicable
Item 3. Exhibits:
Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

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

Putnam Funds Trust
By (Signature and Title):
/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: April 26, 2013

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

By (Signature and Title):
/s/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: April 26, 2013

By (Signature and Title):
/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: April 26, 2013

EX-99.CERT 2 b_FL7certifications.htm EX-99.CERT b_FL7certifications.htm

Certifications

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

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

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

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

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


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


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


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


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

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


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


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

/s/ Jonathan S. Horwitz
_____________________________

Date: April 26, 2013
Jonathan S. Horwitz
Principal Executive Officer













Certifications

I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that:

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

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

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

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


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


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


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


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

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


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


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

/s/ Steven D. Krichmar
_______________________________

Date: April 26, 2013
Steven D. Krichmar
Principal Financial Officer














Attachment A

Period (s) ended February 28, 2013
               Putnam Arizona Tax Exempt Income Fund
               Putnam Minnesota Tax Exempt Income Fund
               Putnam Massachusetts Tax Exempt Income Fund
               Putnam New York Tax Exempt Income Fund
               Putnam High Yield Advantage Fund
               Putnam Equity Income Fund
               Putnam Pennsylvania Tax Exempt Income Fund
               Putnam Ohio Tax Exempt Income Fund
               Putnam New Jersey Tax Exempt Income Fund
               Putnam Michigan Tax Exempt Income Fund
               Putnam Dynamic Asset Allocation Equity Fund
               Putnam Dynamic Risk Allocation Fund