N-Q 1 a_smallcapgrowth.htm PUTNAM FUNDS TRUST a_smallcapgrowth.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: June 30, 2013
Date of reporting period: March 31, 2013



Item 1. Schedule of Investments:














Putnam Small Cap Growth Fund

The fund's portfolio
3/31/13 (Unaudited)
COMMON STOCKS (96.6%)(a)
Shares Value

Aerospace and defense (0.6%)
HEICO Corp.(S) 8,300 $360,303
Sparton Corp.(NON) 25,000 335,000

695,303
Airlines (0.4%)
Alaska Air Group, Inc.(NON) 8,700 556,452

556,452
Auto components (0.8%)
Cooper Tire & Rubber Co. 37,500 962,250

962,250
Biotechnology (2.3%)
BioMarin Pharmaceuticals, Inc.(NON)(S) 9,000 560,340
Cubist Pharmaceuticals, Inc.(NON) 24,344 1,139,786
Gentium SpA ADR (Italy)(NON)(S) 15,788 130,093
Lexicon Pharmaceuticals, Inc.(NON) 81,216 177,051
PDL BioPharma, Inc. 35,400 258,774
Pharmacyclics, Inc.(NON) 3,400 273,394
Spectrum Pharmaceuticals, Inc.(S) 19,818 147,842
United Therapeutics Corp.(NON)(S) 3,670 223,393

2,910,673
Building products (0.9%)
Trex Co., Inc.(NON)(S) 22,800 1,121,304

1,121,304
Capital markets (2.4%)
HFF, Inc. Class A(S) 44,000 876,920
Safeguard Scientifics, Inc.(NON) 30,900 488,220
Virtus Investment Partners, Inc.(NON) 4,500 838,260
Walter Investment Management Corp.(NON) 20,700 771,075

2,974,475
Chemicals (5.8%)
American Vanguard Corp. 17,451 532,954
Axiall Corp. 7,500 466,200
Chemtura Corp.(NON) 28,700 620,207
Innophos Holdings, Inc. 11,749 641,025
Innospec, Inc. 20,648 914,293
Koppers Holdings, Inc.(S) 15,300 672,894
Landec Corp.(NON) 49,200 711,924
LSB Industries, Inc.(NON) 36,305 1,262,688
PolyOne Corp. 33,502 817,784
Tronox, Ltd. Class A 10,500 208,005
W.R. Grace & Co.(NON) 5,053 391,658

7,239,632
Commercial banks (0.4%)
Eagle Bancorp, Inc.(NON) 21,400 468,446

468,446
Commercial services and supplies (1.3%)
G&K Services, Inc. Class A 6,800 309,468
InnerWorkings, Inc.(NON) 38,388 581,194
KAR Auction Services, Inc. 34,400 689,032

1,579,694
Communications equipment (4.5%)
Arris Group, Inc.(NON) 21,000 360,570
Aruba Networks, Inc.(NON) 23,383 578,495
Brocade Communications Systems, Inc.(NON) 47,700 275,229
CalAmp Corp.(NON) 44,817 491,642
EchoStar Corp. Class A(NON) 48,835 1,903,095
InterDigital, Inc. 6,279 300,325
Ixia(NON) 18,426 398,739
Plantronics, Inc. 11,900 525,861
Polycom, Inc.(NON) 38,200 423,256
Procera Networks, Inc.(NON) 30,300 360,267

5,617,479
Computers and peripherals (0.2%)
Silicon Graphics International Corp.(NON) 19,984 274,780

274,780
Construction and engineering (0.2%)
Great Lakes Dredge & Dock Corp. 36,300 244,299

244,299
Construction materials (0.8%)
Eagle Materials, Inc. 15,400 1,026,102

1,026,102
Consumer finance (1.6%)
Cash America International, Inc. 5,900 309,573
Credit Acceptance Corp.(NON) 5,600 683,984
Portfolio Recovery Associates, Inc.(NON) 4,000 507,680
World Acceptance Corp.(NON)(S) 6,300 540,981

2,042,218
Containers and packaging (0.5%)
Sealed Air Corp. 25,000 602,750

602,750
Distributors (0.9%)
Core-Mark Holding Co., Inc. 12,600 646,506
VOXX International Corp.(NON) 47,847 512,441

1,158,947
Diversified consumer services (0.9%)
Bright Horizons Family Solutions, Inc.(NON) 16,200 547,398
Grand Canyon Education, Inc.(NON) 20,700 525,573

1,072,971
Electrical equipment (2.8%)
AZZ, Inc. 14,400 694,080
EnerSys(NON)(S) 15,600 711,048
Franklin Electric Co., Inc. 36,794 1,235,175
Generac Holdings, Inc. 25,779 911,030

3,551,333
Electronic equipment, instruments, and components (1.0%)
FEI Co.(S) 6,660 429,903
MTS Systems Corp. 13,733 798,574

1,228,477
Energy equipment and services (1.6%)
Helix Energy Solutions Group, Inc.(NON) 46,412 1,061,907
Key Energy Services, Inc.(NON)(S) 56,850 459,348
McDermott International, Inc.(NON) 41,300 453,887

1,975,142
Food and staples retail (0.6%)
Roundy's, Inc. 59,600 391,572
United Natural Foods, Inc.(NON) 7,600 373,920

765,492
Food products (1.1%)
Hain Celestial Group, Inc. (The)(NON)(S) 8,400 513,072
Pinnacle Foods, Inc.(NON) 12,481 272,864
S&W Seed Co.(NON)(S) 50,900 534,959

1,320,895
Health-care equipment and supplies (6.0%)
Accuray, Inc.(NON)(S) 82,200 381,408
Alere, Inc.(NON) 27,900 712,287
Align Technology, Inc.(NON) 12,600 422,226
Conmed Corp. 23,296 793,462
Cyberonics, Inc.(NON)(S) 6,000 280,860
GenMark Diagnostics, Inc.(NON)(S) 34,478 445,456
Greatbatch, Inc.(NON) 27,482 820,887
Haemonetics Corp.(NON)(S) 13,900 579,074
Hill-Rom Holdings, Inc. 14,500 510,690
Insulet Corp.(NON) 15,100 390,486
RTI Biologics, Inc.(NON) 88,508 348,722
STAAR Surgical Co.(NON) 116,020 653,193
Steris Corp. 13,100 545,091
TearLab Corp.(NON)(S) 42,800 295,320
Trinity Biotech PLC ADR (Ireland) 22,800 384,864

7,564,026
Health-care providers and services (3.0%)
Amedisys, Inc.(NON)(S) 19,800 220,176
AmSurg Corp.(NON) 11,141 374,783
Bio-Reference Labs, Inc.(NON)(S) 6,900 179,262
Centene Corp.(NON) 5,868 258,427
Community Health Systems, Inc. 7,500 355,425
HealthSouth Corp.(NON)(S) 20,100 530,037
Magellan Health Services, Inc.(NON) 7,200 342,504
Providence Service Corp. (The)(NON) 33,700 623,113
WellCare Health Plans, Inc.(NON) 14,050 814,338

3,698,065
Health-care technology (1.4%)
athenahealth, Inc.(NON) 6,061 588,159
Computer Programs & Systems, Inc. 4,967 268,764
HMS Holdings Corp.(NON)(S) 15,700 426,255
MedAssets, Inc.(NON) 26,800 515,900

1,799,078
Hotels, restaurants, and leisure (3.3%)
AFC Enterprises(NON) 34,237 1,243,830
Brinker International, Inc.(S) 18,700 704,055
Domino's Pizza, Inc. 6,600 339,504
Fiesta Restaurant Group, Inc.(NON) 6,036 160,377
Marcus Corp. 26,800 334,732
Papa John's International, Inc.(NON)(S) 11,000 680,020
Six Flags Entertainment Corp. 3,600 260,928
Town Sports International Holdings, Inc. 46,192 436,976

4,160,422
Household durables (1.4%)
La-Z-Boy, Inc.(S) 34,200 645,354
Ryland Group, Inc. (The)(S) 13,500 561,870
Tempur-Pedic International, Inc.(NON) 10,800 536,004

1,743,228
Insurance (0.7%)
Genworth Financial, Inc. Class A(NON) 87,500 875,000

875,000
Internet and catalog retail (0.3%)
HSN, Inc.(S) 6,662 365,477

365,477
Internet software and services (2.6%)
Cornerstone OnDemand, Inc.(NON)(S) 11,800 402,380
Demand Media, Inc.(NON)(S) 21,500 185,545
IntraLinks Holdings, Inc.(NON) 101,300 644,268
LivePerson, Inc.(NON)(S) 27,600 374,808
NIC, Inc. 27,300 523,068
OpenTable, Inc.(NON) 6,000 377,880
SciQuest, Inc.(NON) 12,000 288,480
ValueClick, Inc.(NON) 16,900 499,395

3,295,824
IT Services (2.2%)
Acxiom Corp.(NON) 23,400 477,360
CSG Systems International, Inc.(NON) 10,900 230,971
Global Cash Access Holdings, Inc.(NON) 57,200 403,260
InterXion Holding NV (Netherlands)(NON) 20,700 501,354
Mantech International Corp. Class A 14,100 378,867
MAXIMUS, Inc. 5,000 399,850
NeuStar, Inc. Class A(NON) 6,681 310,867

2,702,529
Leisure equipment and products (0.4%)
Brunswick Corp.(S) 10,104 345,759
Sturm Ruger & Co., Inc.(S) 3,082 156,350

502,109
Machinery (4.2%)
Altra Holdings, Inc. 22,200 604,284
Chart Industries, Inc.(NON) 7,871 629,759
Greenbrier Companies, Inc.(NON)(S) 26,800 608,628
Kadant, Inc.(NON) 16,800 420,000
L.B. Foster Co. Class A 11,344 502,426
Navistar International Corp.(NON) 9,600 331,872
Standex International Corp. 12,600 695,772
TriMas Corp.(NON) 24,682 801,425
Valmont Industries, Inc. 4,400 691,988

5,286,154
Media (1.0%)
Carmike Cinemas, Inc.(NON) 31,100 563,532
Sinclair Broadcast Group, Inc. Class A 35,747 723,519

1,287,051
Metals and mining (0.3%)
Horsehead Holding Corp.(NON) 34,600 376,448

376,448
Multiline retail (0.4%)
Big Lots, Inc.(NON) 14,800 521,996

521,996
Oil, gas, and consumable fuels (2.9%)
CVR Energy, Inc. (Escrow)(F) 26,639
Gulfport Energy Corp.(NON) 4,700 215,401
Kodiak Oil & Gas Corp.(NON) 59,500 540,855
Rosetta Resources, Inc.(NON) 12,013 571,579
Swift Energy Co.(NON)(S) 13,876 205,504
Tesoro Corp. 10,800 632,340
Vaalco Energy, Inc.(NON) 61,900 469,821
W&T Offshore, Inc. 25,194 357,755
Western Refining, Inc. 17,830 631,360

3,624,615
Paper and forest products (0.3%)
Buckeye Technologies, Inc. 11,300 338,435

338,435
Personal products (0.6%)
Prestige Brands Holdings, Inc.(NON) 31,500 809,235

809,235
Pharmaceuticals (4.4%)
Endo Health Solutions, Inc.(NON) 11,800 362,968
Hi-Tech Pharmacal Co., Inc.(S) 8,748 289,646
Impax Laboratories, Inc.(NON) 19,900 307,256
Jazz Pharmaceuticals PLC(NON) 26,605 1,487,486
Medicines Co. (The)(NON) 15,518 518,612
Obagi Medical Products, Inc.(NON) 39,622 782,535
Questcor Pharmaceuticals, Inc. 6,400 208,256
Salix Pharmaceuticals, Ltd.(NON) 6,182 316,395
Santarus, Inc.(NON) 18,800 325,804
ViroPharma, Inc.(NON) 20,424 513,868
Warner Chilcott PLC Class A 27,000 365,850

5,478,676
Professional services (2.8%)
Acacia Research Corp.(NON) 8,187 247,002
Barrett Business Services, Inc. 11,900 626,654
Corporate Executive Board Co. (The) 7,400 430,384
On Assignment, Inc.(NON) 27,300 690,963
TrueBlue, Inc.(NON) 50,100 1,059,114
WageWorks, Inc.(NON) 18,687 467,736

3,521,853
Real estate investment trusts (REITs) (4.2%)
American Capital Mortgage Investment Corp. 23,200 599,720
Apollo Commercial Real Estate Finance, Inc. 26,400 464,376
Apollo Residential Mortgage, Inc. 13,000 289,770
CBL & Associates Properties, Inc.(S) 28,900 682,040
Geo Group, Inc. (The) 15,654 588,903
Omega Healthcare Investors, Inc.(S) 24,800 752,928
PS Business Parks, Inc. 8,000 631,360
Select Income REIT 23,700 626,865
Sun Communities, Inc.(S) 12,700 626,491

5,262,453
Real estate management and development (0.8%)
St. Joe Co. (The)(NON)(S) 47,618 1,011,883

1,011,883
Road and rail (2.0%)
Avis Budget Group, Inc.(NON) 45,491 1,266,015
Con-way, Inc. 17,000 598,570
Swift Transportation Co.(NON)(S) 46,168 654,662

2,519,247
Semiconductors and semiconductor equipment (3.4%)
Integrated Silicon Solutions, Inc.(NON) 34,400 315,448
Microsemi Corp.(NON) 17,100 396,207
Omnivision Technologies, Inc.(NON)(S) 21,076 290,427
Photronics, Inc.(NON)(S) 75,292 502,951
RF Micro Devices, Inc.(NON)(S) 105,700 562,324
Rudolph Technologies, Inc.(NON) 54,100 637,298
Semtech Corp.(NON) 13,500 477,765
Silicon Image, Inc.(NON) 111,800 543,348
Teradyne, Inc.(NON) 36,071 585,072

4,310,840
Software (8.7%)
Actuate Corp.(NON) 116,902 701,412
Aspen Technology, Inc.(NON)(S) 19,437 627,621
Bottomline Technologies, Inc.(NON)(S) 24,000 684,240
BroadSoft, Inc.(NON)(S) 5,200 137,644
Commvault Systems, Inc.(NON)(S) 11,300 926,374
Infoblox, Inc.(NON) 23,686 513,986
Manhattan Associates, Inc.(NON) 13,130 975,428
Mentor Graphics Corp.(NON) 36,900 666,045
MicroStrategy, Inc. Class A(NON) 4,600 464,968
Netscout Systems, Inc.(NON) 23,600 579,852
PTC, Inc.(NON) 23,100 588,819
QLIK Technologies, Inc.(NON) 17,300 446,859
Rovi Corp.(NON) 24,100 515,981
Sourcefire, Inc.(NON) 8,900 527,147
SS&C Technologies Holdings, Inc.(NON) 21,903 656,652
Tangoe, Inc.(NON) 18,400 227,976
Tyler Technologies, Inc.(NON) 12,600 771,876
Ultimate Software Group, Inc.(NON) 10,197 1,062,120

11,075,000
Specialty retail (3.9%)
ANN, Inc.(NON) 15,900 461,418
Buckle, Inc. (The)(S) 5,253 245,052
Cabela's, Inc.(NON) 3,000 182,340
Destination Maternity Corp. 29,800 697,320
Francesca's Holdings Corp.(NON)(S) 16,600 475,756
Genesco, Inc.(NON) 8,288 498,026
Lumber Liquidators Holdings, Inc.(NON) 4,300 301,946
Pier 1 Imports, Inc.(S) 13,900 319,700
Select Comfort Corp.(NON) 19,000 375,630
Sonic Automotive, Inc. Class A(S) 38,028 842,700
Tile Shop Holdings, Inc.(NON)(S) 21,100 443,311

4,843,199
Textiles, apparel, and luxury goods (0.3%)
Crocs, Inc.(NON) 24,400 361,608

361,608
Thrifts and mortgage finance (1.5%)
BofI Holding, Inc.(NON)(S) 18,237 654,344
Heritage Financial Group, Inc. 25,900 375,032
Nationstar Mortgage Holdings, Inc.(NON) 16,200 597,780
Security National Financial Corp. Class A(NON) 32,300 231,914

1,859,070
Trading companies and distributors (2.0%)
Beacon Roofing Supply, Inc.(NON)(S) 26,805 1,036,281
DXP Enterprises, Inc.(NON)(S) 11,450 855,315
TAL International Group, Inc. 14,600 661,526

2,553,122

Total common stocks (cost $96,405,702) $121,135,757

SHORT-TERM INVESTMENTS (20.0%)(a)
Shares Value

Putnam Cash Collateral Pool, LLC 0.19%(d) 20,998,264 $20,998,264
Putnam Short Term Investment Fund 0.08%(AFF) 4,017,163 4,017,163

Total short-term investments (cost $25,015,427) $25,015,427

TOTAL INVESTMENTS

Total investments (cost $121,421,129)(b) $146,151,184














Key to holding's abbreviations
ADR American Depository Receipts: represents ownership of foreign securities on deposit with a custodian bank
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 July 1, 2012 through March 31, 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 $125,354,280.
(b) The aggregate identified cost on a tax basis is $121,675,193, resulting in gross unrealized appreciation and depreciation of $27,764,234 and $3,288,243, respectively, or net unrealized appreciation of $24,475,991.
(NON) Non-income-producing security.
(AFF) Affiliated company. 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 Putnam Money Market Liquidity Fund and Putnam Short Term Investment Fund, which are under common ownership and control, were as follows:
Name of affiliate 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 * $4,295,284 $25,332,057 $29,627,341 $2,067 $—
Putnam Short Term Investment Fund * 7,057,164 3,040,001 289 4,017,163
Totals $4,295,284 $32,389,221 $32,667,342 $2,356 $4,017,163
* Management fees charged to Putnam Money Market Liquidity Fund and Putnam Short Term Investment Fund have been waived by Putnam Management.
(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 $20,552,009. Certain of these securities were sold prior to the close of the reporting period.
The fund received cash collateral of $20,998,264, 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.
(S) Security on loan, in part or in entirety, at the close of the reporting period.
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. 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.













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:
    Consumer discretionary $16,979,258 $— $—
    Consumer staples 2,895,622
    Energy 5,599,757
    Financials 14,493,545
    Health care 21,450,518
    Industrials 21,628,761
    Information technology 28,504,929
    Materials 9,583,367
Total common stocks 121,135,757
Short-term investments 4,017,163 20,998,264



Totals by level $125,152,920 $20,998,264 $—


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.
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: May 24, 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: May 24, 2013

By (Signature and Title):
/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: May 24, 2013