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: July 31, 2013

Date of reporting period: April 30, 2013

Item 1. Schedule of Investments:

Putnam Short Duration Income Fund
The fund's portfolio
4/30/13 (Unaudited)
CORPORATE BONDS AND NOTES (73.1%)(a)
	Interest rate (%)	Maturity date	Principal amount	Value
Banking (27.2%)
Abbey National Treasury Services PLC (London) bank guaranty sr. unsec. unsub. notes (United Kingdom)	2.875	4/25/14	$2,800,000	$2,852,637
ABN Amro Bank NV 144A sr. unsec. FRN notes (Netherlands)	2.046	1/30/14	1,000,000	1,010,610
ABN Amro Bank NV 144A sr. unsec. notes (Netherlands)	3.000	1/31/14	4,500,000	4,569,084
American Expess Centurion Bank company guaranty sr. unsec. FRN notes	0.743	11/13/15	1,000,000	1,001,785
Australia & New Zealand Banking Group, Ltd. sr. unsec. notes (Australia)	2.125	9/19/14	586,000	598,523
Australia & New Zealand Banking Group, Ltd. 144A sr. unsec. notes (Australia)	3.700	1/13/15	850,000	894,965
Australia & New Zealand Banking Group, Ltd. 144A sr. unsec. unsub. FRN notes (Australia)	1.019	1/10/14	1,450,000	1,456,956
Australia & New Zealand Banking Group, Ltd. 144A sr. unsec. unsub. FRN notes (Australia)	0.954	9/24/13	1,000,000	1,002,571
Bank of America Corp. sr. unsec. FRN notes	1.104	3/22/16	2,000,000	1,995,427
Bank of America Corp. sr. unsec. FRN notes	0.610	9/15/14	2,000,000	1,994,852
Bank of America Corp. sr. unsec. notes	5.375	6/15/14	1,250,000	1,312,415
Bank of America Corp. sr. unsec. unsub. FRN notes	1.828	7/11/14	1,000,000	1,013,918
Bank of America Corp. sr. unsec. unsub. FRN notes	1.696	1/30/14	1,300,000	1,310,768
Bank of America Corp. sr. unsec. unsub. notes	7.375	5/15/14	530,000	565,210
Bank of America Corp. sr. unsec. unsub. notes	4.500	4/1/15	440,000	466,737
Bank of Montreal sr. unsec. unsub. FRN notes Ser. MTN (Canada)	0.751	9/11/15	600,000	603,027
Bank of New York Mellon Corp. (The) sr. unsec. FRN notes	0.506	10/23/15	1,300,000	1,301,629
Bank of New York Mellon Corp. (The) sr. unsec. unsub. FRN notes	0.546	7/28/14	1,080,000	1,081,536
Bank of New York Mellon Corp. (The) sr. unsec. unsub. FRN notes Ser. MTN	1.138	11/24/14	400,000	404,270
Bank of Nova Scotia sr. unsec. unsub. FRN notes (Canada)	0.680	3/15/16	3,000,000	3,004,343
Bank of Nova Scotia sr. unsec. unsub. notes (Canada)	3.400	1/22/15	711,000	745,363
Bank of Nova Scotia sr. unsec. unsub. notes (Canada)	0.750	10/9/15	1,000,000	1,001,225
Bank of Tokyo-Mitsubishi UFJ, Ltd. 144A sr. unsec. FRN notes (Japan)	0.948	2/24/14	550,000	552,140
Bank of Tokyo-Mitsubishi UFJ, Ltd. 144A sr. unsec. notes (Japan)	3.850	1/22/15	670,000	705,041
Bank of Tokyo-Mitsubishi UFJ, Ltd. 144A sr. unsec. notes (Japan)	2.450	9/11/15	1,000,000	1,036,010
Bank of Tokyo-Mitsubishi UFJ, Ltd. 144A sr. unsec. notes (Japan)	1.600	9/11/13	1,265,000	1,269,419
Bank of Tokyo-Mitsubishi UFJ, Ltd. (The) 144A sr. unsec. FRN notes (Japan)	0.738	2/26/16	2,500,000	2,496,492
Barclays Bank PLC sr. unsec. unsub. FRN notes (United Kingdom)	1.317	1/13/14	200,000	201,170
Barclays Bank PLC sr. unsec. unsub. notes (United Kingdom)	5.200	7/10/14	1,300,000	1,368,314
Barclays Bank PLC sr. unsec. unsub. notes (United Kingdom)	3.900	4/7/15	1,094,000	1,156,336
Barclays Bank PLC sr. unsec. unsub. notes (United Kingdom)	2.375	1/13/14	1,405,000	1,422,903
Barclays Bank PLC unsec. sub. notes (United Kingdom)	5.015	11/12/13	600,000	611,094
BB&T Corp. sr. unsec. notes	5.700	4/30/14	2,081,000	2,190,024
BB&T Corp. sr. unsec. unsub. notes Ser. MTN	3.375	9/25/13	1,670,000	1,690,392
BB&T Corp. unsec. sub. notes	5.200	12/23/15	915,000	1,013,790
BNY Mellon NA unsec. sub. notes	4.750	12/15/14	472,000	503,615
BPCE SA 144A sr. unsec. unsub. notes (France)	2.375	10/4/13	6,070,000	6,112,636
Branch Banking & Trust Co. unsec. sub. FRN notes	0.600	9/13/16	665,000	658,865
Canadian Imperial Bank of Commerce / Canada sr. unsec. unsub. notes (Canada)	0.900	10/1/15	1,200,000	1,207,190
Capital One Financial Corp. sr. unsec. unsub. FRN notes	1.427	7/15/14	900,000	909,096
Capital One Financial Corp. sr. unsec. unsub. FRN notes	0.936	11/6/15	500,000	502,984
Capital One Financial Corp. sr. unsec. unsub. notes	7.375	5/23/14	1,385,000	1,482,032
Capital One Financial Corp. sr. unsec. unsub. notes	6.250	11/15/13	250,000	257,531
Capital One Financial Corp. sr. unsec. unsub. notes	2.150	3/23/15	1,000,000	1,021,252
Capital One Financial Corp. sr. unsec. unsub. notes	2.125	7/15/14	500,000	507,888
Capital One NA/Mclean VA sr. unsec. FRN notes	0.734	3/22/16	1,000,000	995,684
Citigroup, Inc. sr. unsec. FRN notes	1.727	1/13/14	300,000	302,300
Citigroup, Inc. sr. unsec. FRN notes	1.073	4/1/16	700,000	702,818
Citigroup, Inc. sr. unsec. notes	6.375	8/12/14	900,000	962,299
Citigroup, Inc. sr. unsec. notes	6.010	1/15/15	1,131,000	1,225,251
Citigroup, Inc. sr. unsec. notes	6.000	12/13/13	550,000	568,380
Citigroup, Inc. sr. unsec. notes	5.500	10/15/14	2,503,000	2,666,191
Commonwealth Bank of Australia 144A sr. unsec. notes (Australia)	3.750	10/15/14	2,029,000	2,120,856
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Netherlands) sr. unsec. FRN notes (Netherlands)	0.760	3/18/16	4,000,000	4,006,957
Credit Agricole SA (London) 144A sr. unsec. notes (United Kingdom)	2.625	1/21/14	2,550,000	2,578,050
Credit Suisse of New York sr. unsec. notes	5.500	5/1/14	500,000	524,661
Credit Suisse of New York sr. unsec. notes	2.200	1/14/14	450,000	455,342
Danske Bank A/S 144A sr. unsec. unsub. FRN notes (Denmark)	1.327	4/14/14	9,150,000	9,197,589
DNB Boligkreditt AS 144A sr. unsub. bonds (Norway)	2.100	10/14/15	1,000,000	1,035,500
Fifth Third Bancorp sr. unsec. notes	6.250	5/1/13	1,975,000	1,975,000
Fifth Third Bank/Ohio sr. unsec. FRN notes	0.697	2/26/16	2,500,000	2,500,727
Fifth Third Bank/Ohio sr. unsec. FRN notes	0.400	5/17/13	2,150,000	2,149,955
HBSC Bank USA NA / New York NY unsec. sub. notes (United Kingdom)	4.625	4/1/14	4,235,000	4,391,737
HSBC Bank PLC 144A sr. unsec. notes (United Kingdom)	1.625	8/12/13	200,000	200,740
HSBC Bank PLC 144A sr. unsec. sub. FRN notes (United Kingdom)	1.078	1/17/14	750,000	754,143
HSBC Finance Corp. notes	5.000	6/30/15	934,000	1,008,528
HSBC Finance Corp. sr. unsec. unsub. notes	4.750	7/15/13	2,410,000	2,430,692
ING Bank N.V. 144A sr. unsec. FRN notes (Netherlands)	1.231	3/7/16	1,000,000	999,446
ING Bank NV 144A sr. unsec. FRN notes (Netherlands)	1.924	9/25/15	1,600,000	1,628,896
ING Bank NV 144A sr. unsec. FRN notes (Netherlands)	1.681	6/9/14	2,050,000	2,071,714
ING Bank NV 144A sr. unsec. FRN notes (Netherlands)	1.597	10/18/13	400,000	402,112
ING Bank NV 144A sr. unsec. notes (Netherlands)	2.375	6/9/14	2,500,000	2,541,965
ING Bank NV 144A sr. unsec. notes (Netherlands)	2.000	10/18/13	850,000	855,065
JPMorgan Chase & Co. sr. unsec. FRN notes	0.908	2/26/16	740,000	741,677
JPMorgan Chase & Co. sr. unsec. unsub. FRN notes	0.726	4/23/15	1,000,000	1,000,999
JPMorgan Chase & Co. unsec. sub. FRN notes	1.488	9/1/15	1,345,000	1,345,615
JPMorgan Chase & Co. unsec. sub. notes	5.125	9/15/14	950,000	1,006,518
JPMorgan Chase Bank NA unsec. sub. FRN notes	0.610	6/13/16	4,400,000	4,323,519
KeyBank N.A./Cleveland OH unsec. sub. notes	5.800	7/1/14	1,240,000	1,313,124
KeyCorp sr. unsec. unsub. notes	3.750	8/13/15	2,500,000	2,662,538
KeyCorp sr. unsec. unsub. notes Ser. MTN	6.500	5/14/13	3,209,000	3,215,213
Lloyds TSB Bank PLC bank guaranty sr. unsec. FRN notes (United Kingdom)	2.625	1/24/14	445,000	451,657
Lloyds TSB Bank PLC 144A bank guaranty sr. unsec. notes (United Kingdom)	4.375	1/12/15	2,700,000	2,851,929
Mellon Funding Corp. company guaranty unsec. sub. notes	5.000	12/1/14	1,600,000	1,711,141
Mizuho Financial Group Cayman, Ltd. 144A unsec. sub. notes (Cayman Islands)	5.790	4/15/14	1,675,000	1,744,797
National Australia Bank, Ltd. sr. unsec. FRN notes (Australia)	1.403	8/7/15	1,000,000	1,017,949
National Australia Bank, Ltd. sr. unsec. notes (Australia)	1.700	12/10/13	290,000	292,399
National Australia Bank, Ltd. 144A FRN notes (Australia)	0.975	11/8/13	520,000	521,818
National Australia Bank, Ltd. 144A sr. unsec. FRN notes (Australia)	0.576	1/22/15	1,000,000	999,138
National Australia Bank, Ltd. 144A sr. unsec. notes (Australia)	1.700	12/10/13	350,000	352,895
National Australia Bank, Ltd. 144A sr. unsec. unsub. FRN notes (Australia)	1.226	7/25/14	1,520,000	1,537,076
National Australia Bank, Ltd./New York sr. unsec. notes (Australia)	1.600	8/7/15	362,000	369,566
National Australia Bank, Ltd./New York sr. unsec. notes Ser. MTN (Australia)	2.000	3/9/15	140,000	143,650
National Bank of Canada bank guaranty sr. unsec. notes (Canada)	1.500	6/26/15	1,285,000	1,304,907
National City Bank unsec. sub. bonds	4.625	5/1/13	732,000	732,000
Nationwide Building Society 144A sr. unsec. notes (United Kingdom)	4.650	2/25/15	354,000	375,081
Nationwide Building Society 144A sr. unsec. sub. notes (United Kingdom)	5.250	1/15/14	7,169,000	7,354,068
Nordea Bank AB 144A sr. unsec. FRN notes (Sweden)	1.177	1/14/14	1,350,000	1,358,124
Nordea Bank AB 144A sr. unsec. notes (Sweden)	2.250	3/20/15	210,000	215,827
Nordea Bank AB 144A sr. unsec. unsub. notes (Sweden)	3.700	11/13/14	2,400,000	2,509,932
Nordea Bank AB 144A sr. unsec. unsub. notes (Sweden)	1.750	10/4/13	2,244,000	2,257,617
Northern Trust Corp. sr. unsec. unsub. notes	4.625	5/1/14	438,000	456,321
PNC Bank N.A. sr. unsec. FRN notes	0.586	1/28/16	1,500,000	1,502,535
PNC Funding Corp. sr. unsec. FRN notes	0.476	1/31/14	250,000	250,203
PNC Funding Corp. sr. unsec. notes	5.400	6/10/14	1,768,000	1,862,318
PNC Funding Corp. sr. unsec. notes	3.000	5/19/14	1,598,000	1,639,460
Rabobank Nederland 144A sr. unsec. notes (Netherlands)	4.200	5/13/14	2,000,000	2,076,058
Royal Bank of Canada sr. unsec. FRN notes (Canada)	0.976	10/30/14	6,650,000	6,707,336
Royal Bank of Canada sr. unsec. FRN notes (Canada)	0.650	3/8/16	2,000,000	2,000,585
Royal Bank of Canada sr. unsec. unsub. FRN notes Ser. MTN1 (Canada)	0.578	4/17/14	570,000	571,699
Royal Bank of Scotland PLC (The) company guaranty sr. unsec. unsub. FRN notes (United Kingdom)	2.708	8/23/13	967,000	972,043
Royal Bank of Scotland PLC (The) company guaranty sr. unsec. unsub. notes Ser. 2 (United Kingdom)	3.400	8/23/13	1,350,000	1,361,294
Royal Bank of Scotland PLC (The) sr. unsec. unsub. notes (United Kingdom)	3.250	1/11/14	500,000	507,900
Royal Bank of Scotland PLC (The) sr. unsec. unsub. notes (United Kingdom)	2.550	9/18/15	300,000	309,018
Royal Bank of Scotland PLC (The) 144A company guaranty sr. unsec. unsub. notes (United Kingdom)	4.875	8/25/14	4,100,000	4,300,357
Royal Bank of Scotland PLC/The sr. unsec. notes (United Kingdom)	4.875	3/16/15	750,000	802,367
Scotland International Finance No2 BV 144A bank guaranty unsec. sub. notes (Netherlands)	4.250	5/23/13	5,575,000	5,580,510
Societe Generale SA 144A sr. unsec. notes (France)	2.500	1/15/14	4,218,000	4,259,349
Societe Generale SA 144A sr. unsec. notes (France)	2.200	9/14/13	1,700,000	1,708,500
SSIF Nevada LP 144A bank guaranty sr. unsec. unsub. FRN notes	0.977	4/14/14	1,070,000	1,076,080
Standard Chartered PLC 144A sr. unsec. FRN notes (United Kingdom)	1.242	5/12/14	2,625,000	2,646,864
Standard Chartered PLC 144A sr. unsec. unsub. notes (United Kingdom)	5.500	11/18/14	1,675,000	1,791,112
Standard Chartered PLC 144A sr. unsec. unsub. notes (United Kingdom)	3.850	4/27/15	4,480,000	4,728,147
State Street Corp. sr. unsec. unsub. FRN notes	0.631	3/7/14	795,000	796,701
Sumitomo Mitsui Banking Corp. sr. unsec. notes (Japan)	1.350	7/18/15	1,450,000	1,468,663
Sumitomo Mitsui Banking Corp. 144A sr. unsec. FRN notes (Japan)	1.226	7/22/14	1,850,000	1,863,376
Sumitomo Mitsui Banking Corp. 144A sr. unsec. notes (Japan)	1.950	1/14/14	1,500,000	1,512,089
Sumitomo Mitsui Banking Corp. 144A sr. unsec. notes (Japan)	1.900	7/22/14	380,000	384,916
Sumitomo Mitsui Banking Corp. 144A sr. unsec. unsub. bonds (Japan)	3.150	7/22/15	600,000	629,445
Svenska Handelsbanken AB sr. unsec. FRN notes (Sweden)	0.732	3/21/16	6,000,000	6,000,067
Swetbank Hypotek AB 144A bank guaranty sr. unsub. bonds (Sweden)	2.950	3/28/16	425,000	451,898
Swetbank Hypotek AB 144A bank guaranty unsub. notes (Sweden)	0.734	3/28/14	1,110,000	1,113,619
UBS AG/Stamford CT sr. unsec. FRN notes	1.276	1/28/14	1,331,000	1,339,107
UBS AG/Stamford CT sr. unsec. notes	2.250	1/28/14	1,393,000	1,410,479
UFJ Finance Aruba AEC bank guaranty sub. notes (Japan)	6.750	7/15/13	903,000	914,501
US Bancorp sr. unsec. unsub. notes	4.200	5/15/14	100,000	103,983
US Bank NA unsec. sub. FRN notes	0.557	10/14/14	2,114,000	2,114,913
US Bank NA unsec. sub. notes	6.300	2/4/14	288,000	300,852
US Bank NA unsec. sub. notes	4.950	10/30/14	2,958,000	3,142,807
US Bank NA unsec. sub. notes	4.800	4/15/15	3,250,000	3,508,866
Wachovia Corp. unsec. sub. FRN notes	0.616	10/28/15	6,544,000	6,483,174
Wells Fargo & Co. unsec. sub. notes	4.950	10/16/13	170,000	173,361
Wells Fargo Bank NA unsec. sub. FRN notes	0.500	5/16/16	1,000,000	988,099
Westpac Banking Corp. sr. unsec. unsub. FRN notes (Australia)	1.044	9/25/15	1,085,000	1,094,938
Westpac Banking Corp. sr. unsec. unsub. notes (Australia)	4.200	2/27/15	150,000	159,879
Westpac Banking Corp. sr. unsec. unsub. notes (Australia)	3.000	8/4/15	2,000,000	2,102,118
Westpac Banking Corp. sr. unsec. unsub. notes (Australia)	1.125	9/25/15	180,000	181,852
Westpac Banking Corp. 144A sr. unsec. FRN notes (Australia)	1.218	2/24/14	700,000	705,229
				240,082,425
Basic materials (0.8%)
Airgas, Inc. sr. unsec. unsub. notes	2.850	10/1/13	5,448,000	5,500,246
BHP Billiton Finance USA, Ltd. company guaranty sr. unsec. FRN notes (Australia)	0.560	2/18/14	1,117,000	1,119,355
				6,619,601
Capital goods (1.2%)
Caterpillar Financial Services Corp. sr. unsec. FRN notes	0.581	12/11/13	350,000	350,773
Caterpillar Financial Services Corp. sr. unsec. FRN notes	0.574	4/1/14	1,290,000	1,293,585
Caterpillar Financial Services Corp. sr. unsec. notes	6.125	2/17/14	880,000	920,407
Caterpillar Financial Services Corp. sr. unsec. notes Ser. MTN	4.750	2/17/15	585,000	628,990
Caterpillar Financial Services Corp. sr. unsec. unsub. notes	1.125	12/15/14	650,000	657,892
Caterpillar Financial Services Corp. sr. unsec. unsub. notes Ser. MTN	4.900	8/15/13	354,000	358,577
John Deere Capital Corp. sr. unsec. FRN notes	0.426	4/25/14	1,000,000	1,001,657
John Deere Capital Corp. sr. unsec. FRN notes	0.380	10/8/14	480,000	480,471
John Deere Capital Corp. sr. unsec. unsub. FRN notes	0.682	10/4/13	564,000	565,127
John Deere Capital Corp. sr. unsec. unsub. notes Ser. MTN	2.950	3/9/15	1,000,000	1,044,848
John Deere Capital Corp. unsec. FRN notes	0.404	1/12/15	2,000,000	1,998,713
United Technologies Corp. sr. unsec. unsub. FRN notes			1,700,000	1,702,934
				11,003,974
Communication services (2.8%)
Alltel Corp. sr. unsec. notes	6.500	11/1/13	250,000	257,478
AT&T, Inc. sr. unsec. unsub. FRN notes	0.677	2/12/16	3,000,000	3,011,341
AT&T, Inc. sr. unsec. unsub. notes	0.800	12/1/15	3,000,000	2,999,302
BellSouth Corp. sr. unsec. unsub. bonds	5.200	9/15/14	1,645,000	1,746,404
British Telecommunications PLC sr. unsec. unsub. FRN notes (United Kingdom)	1.405	12/20/13	3,050,000	3,069,743
Cellco Partnership/Verizon Wireless Capital, LLC sr. unsec. unsub. notes	7.375	11/15/13	2,400,000	2,484,132
Comcast Corp. company guaranty sr. unsec. unsub. notes	5.850	11/15/15	2,700,000	3,044,825
Deutsche Telekom International Finance BV company guaranty sr. unsec. unsub. bonds (Netherlands)	5.250	7/22/13	2,216,000	2,238,643
Deutsche Telekom International Finance BV company guaranty sr. unsec. unsub. notes (Netherlands)	5.875	8/20/13	2,065,000	2,097,501
Verizon New England, Inc. sr. unsec. debs. Ser. C	4.750	10/1/13	3,300,000	3,358,222
Vodafone Group PLC sr. unsec. unsub. notes (United Kingdom)	4.150	6/10/14	300,000	311,684
				24,619,275
Consumer cyclicals (5.0%)
Clorox Co. (The) sr. unsec. notes	3.550	11/1/15	1,000,000	1,062,641
Daimler Finance North America, LLC 144A company guaranty sr. unsec. FRN notes	1.480	9/13/13	2,502,000	2,509,851
Daimler Finance North America, LLC 144A company guaranty sr. unsec. notes	1.950	3/28/14	2,685,000	2,711,716
Ford Motor Credit Co., LLC sr. unsec. unsub. notes	8.700	10/1/14	500,000	550,955
Harley-Davidson Financial Services, Inc. 144A company guaranty sr. unsec. notes	1.150	9/15/15	1,200,000	1,205,010
Harley-Davidson Funding Corp. 144A company guaranty sr. unsec. notes	5.750	12/15/14	2,572,000	2,769,954
Home Depot, Inc. (The) sr. unsec. unsub. notes	5.400	3/1/16	5,266,000	5,950,132
Home Depot, Inc./The sr. unsec. unsub. notes	5.250	12/16/13	360,000	371,039
Macy's Retail Holdings, Inc. company guaranty sr. unsec. notes	7.625	8/15/13	300,000	305,429
Macy's Retail Holdings, Inc. company guaranty sr. unsec. notes	5.750	7/15/14	7,010,000	7,418,171
NBCUniversal Enterprise, Inc. 144A company guaranty sr. unsec. FRN notes	0.817	4/15/16	3,000,000	3,000,658
Nissan Motor Acceptance Corp. 144A sr. unsec. notes	4.500	1/30/15	1,860,000	1,978,071
Toyota Motor Credit Corp. sr. unsec. FRN notes	0.430	3/10/15	2,000,000	2,000,014
Toyota Motor Credit Corp. sr. unsec. unsub. FRN notes Ser. MTN	0.728	10/11/13	500,000	501,087
Toyota Motor Credit Corp. sr. unsec. unsub. notes	3.200	6/17/15	214,000	225,663
Toyota Motor Credit Corp. sr. unsec. unsub. notes	0.875	7/17/15	1,000,000	1,006,652
Toyota Motor Credit Corp. unsec. FRN notes	0.454	12/5/14	2,000,000	2,002,600
Volkswagen International Finance NV 144A company guaranty sr. unsec. FRN notes (Germany)	1.032	3/21/14	1,270,000	1,275,678
Volkswagen International Finance NV 144A company guaranty sr. unsec. FRN notes (Germany)	0.889	11/20/14	1,550,000	1,556,467
Volkswagen International Finance NV 144A company guaranty sr. unsec. FRN notes (Germany)	0.884	9/22/13	600,000	601,297
Volkswagen International Finance NV 144A company guaranty sr. unsec. unsub. FRN notes (Germany)	0.894	4/1/14	250,000	250,963
Volkswagen International Finance NV 144A company guaranty sr. unsec. unsub. notes (Germany)	1.875	4/1/14	960,000	970,445
Volkswagen International Finance NV 144A company guaranty sr. unsec. unsub. notes (Germany)	1.625	8/12/13	260,000	260,879
VW Credit, Inc. company guaranty sr. unsec. notes	1.027	7/13/13	600,000	599,586
Walt Disney Co. (The) sr. unsec. unsub. notes	4.500	12/15/13	2,876,000	2,951,275
				44,036,233
Consumer finance (1.5%)
American Express Co. sr. unsec. notes	7.250	5/20/14	1,595,000	1,705,538
American Express Co. sr. unsec. notes	4.875	7/15/13	1,585,000	1,598,672
American Express Credit Corp. sr. unsec. FRN notes	1.899	6/19/13	100,000	100,207
American Express Credit Corp. sr. unsec. sub. FRN notes	1.380	6/12/15	2,468,000	2,510,383
American Express Credit Corp. sr. unsec. unsub. notes	7.300	8/20/13	315,000	321,457
American Honda Finance Corp. 144A sr. unsec. notes	1.450	2/27/15	3,275,000	3,319,789
American Honda Finance Corp. 144A unsec. bonds	0.743	5/8/14	1,405,000	1,410,582
Capital One Bank sr. unsec. sub. notes	6.500	6/13/13	1,760,000	1,771,690
Capital One Bank USA NA sr. unsec. unsub. notes	5.125	2/15/14	550,000	569,300
				13,307,618
Consumer staples (7.7%)
Altria Group, Inc. company guaranty sr. unsec. notes	7.750	2/6/14	2,250,000	2,371,309
Altria Group, Inc. company guaranty sr. unsec. unsub. notes	8.500	11/10/13	2,591,000	2,698,335
Anheuser-Busch Cos., LLC company guaranty sr. unsec. notes	4.950	1/15/14	595,000	614,111
Anheuser-Busch InBev Finance, Inc. company guaranty sr. unsec. notes	0.800	1/15/16	1,000,000	1,004,438
Anheuser-Busch InBev Worldwide, Inc. company guaranty sr. unsec. notes FRN	0.637	7/14/14	1,290,000	1,295,179
Anheuser-Busch InBev Worldwide, Inc. company guaranty sr. unsec. unsub. notes	5.375	11/15/14	3,390,000	3,633,388
Anheuser-Busch InBev Worldwide, Inc. company guaranty sr. unsec. unsub. notes	3.625	4/15/15	1,000,000	1,057,932
Bacardi, Ltd. 144A company guaranty sr. unsec. unsub. notes (Bermuda)	7.450	4/1/14	1,235,000	1,309,111
Bottling Group, LLC company guaranty sr. unsec. notes	6.950	3/15/14	1,503,000	1,585,890
Cadbury Schewppes US Finance, LLC 144A company guaranty sr. unsec. notes (United Kingdom)	5.125	10/1/13	1,800,000	1,829,831
Cargill, Inc. 144A sr. unsec. notes	5.000	11/15/13	215,000	219,958
Cargill, Inc. 144A sr. unsec. notes	4.375	6/1/13	450,000	451,367
ConAgra Foods, Inc. sr. unsec. notes	5.875	4/15/14	3,388,000	3,551,678
ConAgra Foods, Inc. sr. unsec. unsub. notes	1.350	9/10/15	1,000,000	1,010,193
Costco Wholesale Corp. sr. unsec. unsub. notes	0.650	12/7/15	4,500,000	4,521,906
Diageo Capital PLC company guaranty sr. unsec. unsub. notes (United Kingdom)	7.375	1/15/14	3,350,000	3,509,416
Diageo Capital PLC company guaranty sr. unsec. unsub. notes (United Kingdom)	0.625	4/29/16	2,000,000	2,000,979
Diageo Finance BV company guaranty sr. unsec. unsub. notes (Netherlands)	5.300	10/28/15	1,090,000	1,213,905
Foster's Finance Corp. 144A company guaranty sr. unsec. notes	4.875	10/1/14	200,000	211,671
H.J. Heinz Co. sr. unsec. notes	5.350	7/15/13	3,246,000	3,268,722
Kellogg Co. sr. unsec. unsub. notes	1.125	5/15/15	5,000,000	5,048,805
Kroger Co. (The) company guaranty sr. unsec. notes	7.500	1/15/14	3,476,000	3,642,963
Kroger Co. (The) company guaranty sr. unsec. notes	3.900	10/1/15	1,000,000	1,070,123
Mondelez International, Inc. sr. unsec. notes	5.250	10/1/13	290,000	295,574
Mondelez International, Inc. sr. unsec. notes	2.625	5/8/13	985,000	985,277
PepsiAmericas, Inc. company guaranty sr. unsec. unsub. notes	4.375	2/15/14	1,876,000	1,934,391
PepsiCo, Inc. sr. unsec. unsub. FRN notes	0.497	2/26/16	3,000,000	3,009,403
PepsiCo, Inc. sr. unsec. unsub. notes	3.750	3/1/14	250,000	256,785
PepsiCo, Inc. sr. unsec. unsub. notes	0.800	8/25/14	659,000	662,348
SABMiller Holdings, Inc. 144A company guaranty sr. unsec. unsub. notes	1.850	1/15/15	925,000	942,768
SABMiller PLC 144A sr. unsec. notes (United Kingdom)	5.500	8/15/13	5,770,000	5,852,419
Walgreen Co. company guaranty sr. unsec. unsub. notes	4.875	8/1/13	2,683,000	2,711,276
Walgreen Co. sr. unsec. unsub. FRN notes	0.780	3/13/14	2,000,000	2,004,744
WPP Finance UK company guaranty sr. unsec. unsub. notes (United Kingdom)	5.875	6/15/14	1,307,000	1,376,672
Yale University sr. unsec. unsub. notes Ser. MTN	2.900	10/15/14	570,000	591,500
				67,744,367
Energy (2.1%)
BP Capital Markets PLC company guaranty sr. unsec. unsub. notes (United Kingdom)	5.250	11/7/13	345,000	353,675
Canadian Natural Resources, Ltd. sr. unsec. unsub. notes (Canada)	4.900	12/1/14	1,000,000	1,064,785
Canadian Natural Resources, Ltd. sr. unsec. unsub. notes (Canada)	1.450	11/14/14	5,919,000	5,988,181
Devon Energy Corp. sr. unsec. unsub. notes	5.625	1/15/14	3,385,000	3,504,071
EnCana Corp. sr. unsec. unsub. notes (Canada)	4.750	10/15/13	2,675,000	2,724,223
EnCana Holdings Finance Corp. company guaranty sr. unsec. unsub. notes (Canada)	5.800	5/1/14	1,000,000	1,050,493
ONEOK, Inc. sr. unsec. unsub. notes	5.200	6/15/15	3,047,000	3,304,883
Petro-Canada, Ltd. sr. unsec. unsub. notes (Canada)	4.000	7/15/13	583,000	587,133
				18,577,444
Financial (1.3%)
Erac USA Finance Co. 144A company guaranty notes	2.250	1/10/14	300,000	303,215
Erac USA Finance Co. 144A company guaranty sr. notes	2.750	7/1/13	2,000,000	2,007,149
General Electric Capital Corp. sr. unsec. FRN notes	1.110	12/20/13	500,000	502,375
General Electric Capital Corp. sr. unsec. FRN notes	0.880	1/8/16	1,500,000	1,504,056
General Electric Capital Corp. sr. unsec. FRN notes	0.480	1/8/16	2,500,000	2,483,490
General Electric Capital Corp. sr. unsec. FRN notes	0.470	10/6/15	1,675,000	1,665,111
General Electric Capital Corp. sr. unsec. FRN notes	0.430	9/15/14	100,000	99,907
General Electric Capital Corp. sr. unsec. FRN notes Ser. MTN	0.540	9/15/14	400,000	400,384
General Electric Capital Corp. sr. unsec. unsub. FRN notes	1.314	7/2/15	700,000	709,610
General Electric Capital Corp. sr. unsec. unsub. FRN notes	0.280	9/20/13	100,000	99,955
General Electric Capital Corp. sr. unsec. unsub. FRN notes Ser. MTN	0.910	4/7/14	598,000	601,565
General Electric Capital Corp. sr. unsec. unsub. notes	4.375	9/21/15	700,000	757,380
				11,134,197
Health care (2.4%)
AbbVie, Inc. 144A company guaranty sr. unsec. FRN notes	1.056	11/6/15	2,289,000	2,318,656
AbbVie, Inc. 144A company guaranty sr. unsec. notes	1.200	11/6/15	1,795,000	1,809,173
Coventry Health Care, Inc. sr. unsec. notes	6.125	1/15/15	1,310,000	1,413,338
GlaxoSmith Kline Capital, Inc. company guaranty sr. unsec. unsub. notes	4.850	5/15/13	923,000	924,410
Quest Diagnostics, Inc. company guaranty sr. unsec. notes	5.450	11/1/15	1,000,000	1,099,951
Teva Pharmaceutical Finance Co. BV company guaranty sr. unsec. unsub. FRN notes (Israel)	1.175	11/8/13	5,000,000	5,021,205
Teva Pharmaceutical Finance III BV company guaranty sr. unsec. unsub. FRN notes (Israel)	0.782	3/21/14	948,000	951,135
Teva Pharmaceutical Finance III BV company guaranty sr. unsec. unsub. notes (Israel)	1.700	3/21/14	250,000	252,776
WellPoint, Inc. sr. unsec. notes	6.000	2/15/14	5,113,000	5,325,455
WellPoint, Inc. sr. unsec. unsub. notes	1.250	9/10/15	750,000	756,603
Zoetis Inc. 144A sr. unsec. notes	1.150	2/1/16	1,735,000	1,747,485
				21,620,187
Insurance (4.6%)
Aegon NV sr. unsec. unsub. notes (Netherlands)	4.750	6/1/13	855,000	857,702
Aflac, Inc. sr. unsec. notes	3.450	8/15/15	2,790,000	2,962,754
Allstate Corp. (The) sr. unsec. unsub. notes	6.200	5/16/14	2,072,000	2,192,534
Allstate Corp. (The) sr. unsec. unsub. notes	5.000	8/15/14	780,000	824,103
American International Group, Inc. sr. unsec. unsub. notes	4.250	9/15/14	1,500,000	1,569,156
American International Group, Inc. sr. unsec. unsub. notes	3.000	3/20/15	1,857,000	1,925,620
Hartford Financial Services Group, Inc. (The) sr. unsec. unsub. notes	4.625	7/15/13	1,425,000	1,436,688
Hartford Life Global Funding Trusts sr. unsub. FRN notes	0.460	6/16/14	1,800,000	1,799,440
Hartford Life Institutional Funding 144A sr. FRN notes Ser. MTN	0.610	8/15/13	900,000	900,608
Lincoln National Corp. sr. unsec. unsub. notes	4.750	2/15/14	2,107,000	2,174,506
Mass Mutual Global Funding II 144A sr. FRN notes	0.443	12/6/13	678,000	678,746
Mass Mutual Global Funding II 144A sr. unsub. FRN notes	0.657	1/14/14	148,000	148,414
Mass Mutual Global Funding II 144A sr. unsub. notes	2.300	9/28/15	500,000	519,502
MetLife Institutional Funding II 144A	1.625	4/2/15	1,000,000	1,017,342
MetLife Institutional Funding II 144A FRN notes	1.182	4/4/14	500,000	504,022
MetLife Institutional Funding II 144A FRN notes	0.650	1/6/15	1,500,000	1,500,019
Metropolitan Life Global Funding I 144A FRN notes	1.029	1/10/14	1,160,000	1,165,465
Metropolitan Life Global Funding I 144A sr. notes	2.000	1/9/15	725,000	739,380
Metropolitan Life Global Funding I 144A sr. notes	2.000	1/10/14	112,000	113,230
Metropolitan Life Global Funding I 144A sr. unsub. FRN notes	0.630	3/19/14	500,000	499,872
Metropolitan Life Global Funding I 144A unsec. FRN notes	0.680	12/12/13	500,000	500,251
Monumental Global Funding III 144A sr. unsub. FRN notes	0.477	1/15/14	1,200,000	1,200,010
Monumental Global Funding, Ltd. 144A sr. unsub. notes	5.250	1/15/14	385,000	396,861
New York 144A sr. notes	4.650	5/9/13	650,000	650,482
New York Life Global Funding 144A FRN notes	0.542	4/4/14	500,000	501,448
Pricoa Global Funding I 144A sr. FRN notes	0.483	9/27/13	795,000	795,272
Principal Life Global Funding II 144A company guaranty sr. FRN notes	0.904	7/9/14	500,000	502,307
Principal Life Global Funding II 144A notes	1.000	12/11/15	4,835,000	4,852,507
Principal Life Income Funding Trusts sr. FRN notes	0.455	11/8/13	270,000	270,112
Prudential Covered Trust 2012-1 144A company guaranty mtge. notes	2.997	9/30/15	2,731,500	2,850,449
Prudential Financial, Inc. sr. unsec. unsub. notes Ser. MTN	4.750	4/1/14	1,816,000	1,883,682
Prudential Financial, Inc. sr. unsec. unsub. notes Ser. MTNB	5.100	9/20/14	2,644,000	2,803,497
				40,735,981
Investment banking/Brokerage (0.9%)
Credit Suisse First Boston USA, Inc. bank guaranty sr. unsec. unsub. notes	5.500	8/15/13	210,000	213,060
Goldman Sachs Group, Inc. (The) sr. unsec. FRN notes	1.296	2/7/14	230,000	231,141
Goldman Sachs Group, Inc. (The) sr. unsec. notes	5.250	10/15/13	2,000,000	2,042,360
Goldman Sachs Group, Inc. (The) sr. unsec. Notes	4.750	7/15/13	3,058,000	3,084,910
TD Ameritrade Holding Corp. company guaranty sr. unsec. unsub. notes	4.150	12/1/14	2,245,000	2,367,730
				7,939,201
Real estate (8.9%)
Boston Properties, LP sr. unsec. unsub. notes(R)	5.625	4/15/15	1,829,000	1,997,194
Boston Properties, LP sr. unsec. unsub. notes(R)	5.000	6/1/15	5,225,000	5,670,712
Camden Property Trust sr. unsec. unsub. notes(R)	5.375	12/15/13	1,828,000	1,879,333
Camden Property Trust sr. unsec. unsub. notes(R)	5.000	6/15/15	2,596,000	2,806,131
Colonial Realty LP sr. unsec. unsub. notes	6.250	6/15/14	580,000	613,058
Duke Realty LP sr. unsec. notes(R)	6.250	5/15/13	4,791,000	4,800,446
Duke Realty LP sr. unsec. unsub. notes(R)	5.400	8/15/14	757,000	797,563
Duke Realty LP sr. unsec. unsub. notes(R)	4.625	5/15/13	431,000	431,661
ERP Operating LP sr. unsec. unsub. notes(R)	5.250	9/15/14	3,875,000	4,122,031
Federal Realty Investment Trust sr. unsec. notes(R)	5.400	12/1/13	3,380,000	3,472,851
Federal Realty Investment Trust sr. unsec. unsub. notes(R)	5.950	8/15/14	2,620,000	2,786,340
HCP, Inc. sr. unsec. notes(R)	5.650	12/15/13	3,214,000	3,315,576
HCP, Inc. sr. unsec. unsub. notes(R)	2.700	2/1/14	3,206,000	3,254,430
Health Care REIT, Inc. sr. unsec. notes(R)	6.000	11/15/13	615,000	631,956
Health Care REIT, Inc. sr. unsec. notes(R)	3.625	3/15/16	3,000,000	3,190,545
Hospitality Properties Trust sr. unsec. notes(R)	7.875	8/15/14	1,141,000	1,202,295
Kimco Realty Corp. sr. unsec. notes Ser. MTN(R)	5.190	10/1/13	2,453,000	2,502,562
Kimco Realty Corp. sr. unsec. unsub. notes(R)	4.820	6/1/14	2,760,000	2,882,224
Pan Pacific Retail Properties, Inc. company guaranty sr. unsec. notes(R)	5.950	6/1/14	1,197,000	1,263,000
Realty Income Corp. sr. unsec. notes(R)	5.500	11/15/15	4,000,000	4,416,352
Regency Centers LP company guaranty sr. unsec. unsub. notes	4.950	4/15/14	2,550,000	2,647,236
Simon Property Group LP sr. unsec. notes(R)	6.750	5/15/14	3,302,000	3,461,966
Simon Property Group LP sr. unsec. unsub. notes(R)	5.750	12/1/15	802,000	896,756
Simon Property Group LP sr. unsec. unsub. notes(R)	5.625	8/15/14	795,000	845,465
Simon Property Group LP sr. unsec. unsub. notes(R)	5.100	6/15/15	1,000,000	1,091,633
Simon Property Group LP sr. unsec. unsub. notes(R)	4.900	1/30/14	1,105,000	1,139,277
Simon Property Group LP sr. unsec. unsub. notes(R)	4.200	2/1/15	819,000	862,604
UDR, Inc. company guaranty sr. unsec. unsub. notes(R)	5.250	1/15/15	825,000	882,070
UDR, Inc. sr. unsec. notes(R)	6.050	6/1/13	3,747,000	3,763,138
UDR, Inc. sr. unsec. unsub. notes(R)	5.500	4/1/14	750,000	780,743
UDR, Inc. sr. unsec. unsub. notes(R)	5.130	1/15/14	1,000,000	1,029,480
Vornado Realty LP sr. unsec. unsub. notes(R)	4.250	4/1/15	275,000	289,517
WEA Finance, LLC/ WT Finance Aust. Pty. Ltd. 144A company guaranty sr. unsec. notes	7.500	6/2/14	2,125,000	2,276,128
WEA Finance, LLC/ WT Finance Aust. Pty. Ltd. 144A company guaranty sr. unsec. notes	5.750	9/2/15	195,000	216,305
Weingarten Realty Investors sr. unsec. unsub. notes(R)	4.990	9/3/13	1,500,000	1,519,664
Weingarten Realty Investors sr. unsec. unsub. notes(R)	4.857	1/15/14	400,000	410,937
WT Finance (Aust) Pty. Ltd./ Westfield Capital/ WEA Finance, LLC 144A company guaranty sr. unsec. unsub. bonds (Australia)	5.125	11/15/14	4,350,000	4,625,161
				78,774,340
Technology (0.7%)
IBM Corp. sr. unsec. unsub. notes	6.500	10/15/13	835,000	858,351
IBM Corp. sr. unsec. unsub. notes	1.000	8/5/13	500,000	500,943
Western Union Co. (The) sr. unsec. notes	6.500	2/26/14	2,000,000	2,093,766
Xerox Corp. sr. unsec. notes	5.650	5/15/13	2,800,000	2,804,446
				6,257,506
Transportation (0.6%)
Burlington Northern Santa Fe, LLC sr. unsec. notes	7.000	2/1/14	4,500,000	4,713,161
Burlington Northern Santa Fe, LLC sr. unsec. notes	4.300	7/1/13	285,000	286,788
				4,999,949
Utilities and power (5.4%)
Appalachian Power Co. sr. unsec. unsub. FRN notes	0.665	8/16/13	1,000,000	1,000,755
Atmos Energy Corp. sr. unsec. unsub. notes	4.950	10/15/14	2,000,000	2,122,676
Baltimore Gas & Electric Co. sr. unsec. notes	6.125	7/1/13	2,535,000	2,557,840
Cleveland Electric Illuminating Co. (The) sr. unsec. notes	5.650	12/15/13	731,000	754,012
CMS Energy Corp. sr. unsec. unsub. notes	4.250	9/30/15	2,000,000	2,148,766
Dayton Power & Light Co. (The) 1st mtge.	5.125	10/1/13	1,200,000	1,222,436
DTE Electric Co. sr. notes (Canada)	4.800	2/15/15	2,000,000	2,137,988
DTE Energy Co. sr. unsec. unsub. FRN notes	0.987	6/3/13	585,000	585,266
DTE Energy Co. sr. unsec. unsub. notes	7.625	5/15/14	1,201,000	1,284,581
Duke Energy Carolinas, LLC sr. unsec. unsub. notes	6.300	2/1/14	5,641,000	5,879,883
Enterprise Products Operating, LLC company guaranty sr. unsec. notes	9.750	1/31/14	192,000	204,885
FPL Group Capital, Inc. company guaranty sr. unsec. notes	7.875	12/15/15	2,500,000	2,931,320
Georgia Power Co. sr. unsec. unsub. FRN notes	0.600	3/15/16	1,000,000	1,002,831
Georgia Power Co. sr. unsec. unsub. notes	6.000	11/1/13	3,793,000	3,894,451
Georgia Power Co. sr. unsec. unsub. notes	0.625	11/15/15	2,000,000	2,001,300
Great Plains Energy, Inc. sr. unsec. unsub. notes	2.750	8/15/13	450,000	452,585
Kinder Morgan Energy Partners LP sr. unsec. notes	5.125	11/15/14	2,801,000	2,985,645
Kinder Morgan Energy Partners LP sr. unsec. unsub. notes	5.000	12/15/13	4,500,000	4,624,758
MidAmerican Energy Holdings Co. sr. unsec. notes	5.000	2/15/14	2,660,000	2,751,818
Nevada Power Co. sr. notes	5.875	1/15/15	628,000	681,575
Northeast Utilities sr. unsec. unsub. FRN notes	1.030	9/20/13	1,255,000	1,258,203
Peco Energy Co. bonds	5.000	10/1/14	500,000	530,492
Potomac Edison Co. (The) sr. unsub. notes	5.125	8/15/15	3,675,000	3,997,900
PSI Energy, Inc. sr. unsec. notes	5.000	9/15/13	400,000	406,719
Southern Co. (The) sr. unsec. unsub. notes	4.150	5/15/14	115,000	119,155
Westar Energy, Inc. bonds	6.000	7/1/14	500,000	530,218
				48,068,058
Total corporate bonds and notes (cost $644,834,874)				$645,520,356
MORTGAGE-BACKED SECURITIES (11.0%)(a)
	Interest rate (%)	Maturity date	Principal amount	Value
Agency collateralized mortgage obligations (8.8%)
Federal Home Loan Mortgage Corp.
Ser. 3724, Class CM	5.500	6/15/37	$830,999	$906,610
Ser. 3316, Class CD	5.500	5/15/37	470,482	508,574
Ser. 3302, Class DA	5.500	12/15/17	417,735	426,089
Ser. 3662, Class QA	5.000	3/15/38	702,721	739,519
Ser. 3593, Class KP	5.000	6/15/36	244,170	248,480
Ser. 3580, Class VB	5.000	4/15/29	304,122	315,521
Ser. 3028, Class BA	5.000	4/15/34	263,348	270,943
Ser. 2938, Class ND	5.000	10/15/33	127,923	131,431
Ser. 2888, Class CG	5.000	8/15/33	338,348	350,526
Ser. 2840, Class OE	5.000	2/15/33	215,100	221,184
Ser. 2875, Class GM	5.000	1/15/33	359,151	366,951
Ser. 2750, Class NE	5.000	4/15/32	295,936	300,755
Ser. 2903, Class LA	5.000	10/15/31	324,779	329,993
Ser. 3825, Class AP	4.000	3/15/39	4,321,746	4,409,532
Ser. 3845, Class KP	4.000	4/15/38	859,191	867,531
Ser. 3681, Class AH	4.000	10/15/27	1,396,531	1,420,104
Ser. 3891, Class UK	3.500	3/15/41	273,195	282,999
Ser. 3896, Class PG	3.000	3/15/40	340,437	351,501
Ser. 3952, Class C	3.000	11/15/26	708,022	711,102
Ser. 3611, Class PO, PO	0.000	7/15/34	221,057	205,989
Ser. 1420, Class B, PO	0.000	11/15/22	114,165	106,725
Federal National Mortgage Association
Ser. 13-9, Class BA	6.500	7/25/42	8,588,390	8,668,906
Ser. 06-10, Class GC	6.000	9/25/34	8,300,561	8,604,050
Ser. 06-124, Class A(F)	5.625	11/25/36	125,647	130,564
Ser. 08-8, Class PA	5.000	2/25/38	528,089	579,462
Ser. 09-86, Class PC	5.000	3/25/37	7,752,537	8,004,083
Ser. 05-101, Class ND	5.000	6/25/34	357,255	366,146
Ser. 03-92, Class VH	5.000	2/25/19	650,000	672,952
Ser. 02-65, Class HC	5.000	10/25/17	51,005	53,925
Ser. 11-121, Class JP	4.500	12/25/41	941,771	982,389
Ser. 04-8, Class GD	4.500	10/25/32	320,083	329,182
Ser. 04-26, Class PD	4.500	8/25/32	474,096	487,684
Ser. 11-4, Class JP	4.000	6/25/39	1,789,051	1,827,383
Ser. 11-36, Class PA	4.000	2/25/39	1,190,354	1,220,952
Ser. 11-113, Class LA	4.000	6/25/37	258,643	261,072
Ser. 10-109, Class JB	4.000	8/25/28	698,658	721,843
Ser. 10-17, Class CA	4.000	11/25/23	303,037	308,785
Ser. 11-89, Class VA	4.000	9/25/23	774,050	787,865
Ser. 12-35, Class GA	3.500	5/25/40	743,836	772,182
Ser. 11-20, Class PC	3.500	3/25/39	286,675	295,276
Ser. 11-40, Class DA	3.500	11/25/37	1,478,546	1,500,947
Ser. 11-42, Class BJ	3.000	8/25/25	2,021,249	2,074,307
FRB Ser. 10-90, Class GF	0.700	8/25/40	7,585,697	7,622,108
FRB Ser. 06-74, Class FL(F)	0.550	8/25/36	2,114,780	2,119,075
FRB Ser. 05-63, Class FC(F)	0.450	10/25/31	2,384,320	2,384,253
Government National Mortgage Association
Ser. 07-2, Class PB	5.500	6/20/35	270,091	276,791
Ser. 09-46, Class HC	5.000	11/20/34	281,468	290,431
Ser. 10-61, Class EA	5.000	9/20/31	577,201	596,560
Ser. 10-31, Class VA	5.000	3/20/21	771,450	811,420
Ser. 09-38, Class AB	4.750	9/16/31	382,952	389,654
Ser. 10-162, Class PQ	4.500	6/16/39	208,897	220,858
Ser. 10-39, Class PH	4.500	11/20/38	843,496	885,932
Ser. 11-7, Class CA	4.500	11/20/37	404,372	415,516
Ser. 09-109, Class NK	4.500	7/20/37	979,559	1,024,914
Ser. 09-94, Class MB	4.500	4/20/37	1,075,624	1,119,994
Ser. 10-29, Class PA	4.500	8/20/36	962,740	982,601
Ser. 09-116, Class EK	4.500	12/20/34	487,858	499,383
Ser. 09-54, Class HT	4.500	12/20/34	302,752	312,664
Ser. 09-29, Class NP	4.500	6/16/34	183,781	187,632
Ser. 09-31, Class MA	4.500	8/20/33	89,819	92,199
Ser. 09-59, Class P	4.250	9/20/33	360,100	377,337
Ser. 10-32, Class CJ	4.000	1/20/38	904,445	948,619
Ser. 09-55, Class HC	3.500	6/20/39	291,619	305,182
Ser. 09-118, Class AW	3.000	5/20/37	2,097,672	2,157,980
Ser. 10-57, Class PJ	3.000	6/20/33	438,939	444,992
Ser. 12-15, Class PA	2.500	4/16/40	475,739	490,098
				77,078,207
Commercial mortgage-backed securities (2.1%)
Banc of America Commercial Mortgage, Inc.
Ser. 06-4, Class A2	5.522	7/10/46	906,081	906,081
Ser. 07-1, Class A3	5.449	1/15/49	1,119,716	1,138,052
Ser. 06-6, Class A2	5.309	10/10/45	354,775	358,024
Bear Stearns Commercial Mortgage Securities, Inc. Ser. 05-PWR9, Class A2	4.735	9/11/42	530,191	537,720
Commercial Mortgage Trust Ser. 06-C8, Class A2B, 5.248s, 2046	5.248	12/10/46	44,409	44,629
Credit Suisse Mortgage Capital Certificates FRB Ser. 07-C4, Class A2	5.955	9/15/39	2,142,701	2,158,904
CWCapital Cobalt Ser. 07-C3, Class A2	5.905	5/15/46	9,666	9,666
GE Capital Commercial Mortgage Corp. Ser. 07-C1, Class AAB	5.477	12/10/49	669,964	694,699
GE Commercial Mortgage Corporation Trust Ser. 05-C2, Class A3	4.839	5/10/43	535,754	536,089
Greenwich Capital Commercial Funding Corp.
Ser. 07-GG9, Class A2	5.381	3/10/39	689,303	710,197
Ser. 05-GG3, Class AAB	4.619	8/10/42	492,910	502,999
GS Mortgage Securities Trust Ser. 06-GG6, Class A2	5.506	4/10/38	2,674,690	2,734,871
JPMorgan Chase Commercial Mortgage Securities Corp.
Ser. 07-LD12, Class A2	5.827	2/15/51	626,336	635,731
Ser. 05-CB11, Class A3	5.197	8/12/37	1,339,432	1,365,383
Merrill Lynch Mortgage Trust
Ser. 05-CIP1, Class A2	4.960	7/12/38	700,138	701,118
Ser. 04-BPC1, Class AJ	4.922	10/12/41	1,715,000	1,847,227
Merrill Lynch/Countrywide Commercial Mortgage Trust Ser. 2006-3, Class A2	5.291	7/12/46	578,785	587,150
Morgan Stanley Capital I Trust
FRB Ser. 06-T23, Class A2	5.926	8/12/41	538,528	542,912
FRB Ser. 07-HQ12, Class A2FX	5.763	4/12/49	1,597,195	1,645,270
Wachovia Bank Commercial Mortgage Trust
Ser. 07-C34, Class A2	5.569	5/15/46	694,498	716,548
Ser. 07-C31, Class A2	5.421	4/15/47	290,165	291,984
				18,665,254
Residential mortgage-backed securities (non-agency) (0.1%)
Chase Funding Mortgage Loan Asset-Backed Certificates
Ser. 04-2, Class 1A4	5.323	2/25/35	203,030	209,121
Ser. 04-1, Class 1A6	4.266	6/25/15	22,626	23,384
Countrywide Asset Backed Certificates
FRB Ser. 05-1, Class MV3	0.680	7/25/35	600,000	567,000
FRB Ser. 05-4, Class MV1	0.660	10/25/35	97,674	96,209
Home Equity Asset Trust FRB Ser. 06-3, Class 2A3	0.380	7/25/36	110,145	110,090
				1,005,804
Total mortgage-backed securities (cost $96,631,503)				$96,749,265
COMMERCIAL PAPER (7.2%)(a)
	Yield (%)	Maturity date	Principal amount	Value
ABN AMRO Group NV	0.521	6/5/13	$1,000,000	$999,806
AT&T, Inc.	0.672	7/24/13	500,000	499,585
AXA Financial, Inc.	0.400	5/7/13	2,000,000	1,999,942
BMW U.S. Capital, LLC 144A	0.453	7/23/13	1,000,000	1,000,302
British Telecommunications PLC (United Kingdom)	0.725	3/27/14	1,000,000	993,794
British Telecommunications PLC (United Kingdom)	0.740	3/10/14	2,000,000	1,988,452
British Telecommunications PLC 144A (United Kingdom)	0.420	6/3/13	350,000	349,903
British Telecommunications PLC 144A (United Kingdom)	0.491	5/15/13	250,000	249,972
British Telecommunications PLC 144A (United Kingdom)	1.542	5/14/13	800,000	799,917
CBS Corp.	0.330	5/30/13	1,000,000	999,592
CBS Corp.	0.320	5/20/13	875,000	874,768
CIGNA Corp.	0.430	5/28/13	2,000,000	1,999,552
CIGNA Corp.	0.420	5/21/13	1,500,000	1,499,755
CIGNA Corp.	0.451	5/1/13	500,000	499,997
Corp. Asset Funding Co., Inc.	0.695	2/26/14	2,400,000	2,393,759
Corp. Asset Funding Co., Inc.	0.735	2/4/14	1,000,000	997,589
CRC Funding LLC	0.827	12/17/13	1,000,000	997,036
Daimler Finance North America, LLC	0.674	3/13/14	400,000	397,658
Daimler Finance North America, LLC	0.978	8/15/13	700,000	699,201
Daimler Finance North America, LLC 144A	1.010	9/16/13	400,000	399,317
Daimler Finance North America, LLC 144A	1.010	9/10/13	300,000	299,521
Devon Energy Corp.	0.401	8/13/13	3,000,000	2,996,675
DnB Bank ASA (Norway)	0.351	6/12/13	500,000	499,906
ENI Finance USA, Inc.	0.501	5/30/13	2,000,000	1,999,217
ENI Finance USA, Inc.	0.521	5/20/13	600,000	599,851
Entergy Corp.	0.701	5/21/13	500,000	499,866
Ford Motor Credit Co., LLC	1.007	12/19/13	1,000,000	993,349
Ford Motor Credit Co., LLC	1.018	11/22/13	1,000,000	994,188
Ford Motor Credit Co., LLC	1.008	11/12/13	1,000,000	994,521
Ford Motor Credit Co., LLC	1.170	9/30/13	1,000,000	995,793
Ford Motor Credit Co., LLC	1.006	8/30/13	300,000	299,013
Ford Motor Credit Co., LLC	1.211	8/16/13	1,000,000	997,114
Ford Motor Credit Co., LLC	1.189	7/9/13	500,000	499,076
Ford Motor Credit Co., LLC	1.538	6/28/13	500,000	499,224
Ford Motor Credit Co., LLC	0.959	5/30/13	1,050,000	1,049,239
Marriott International, Inc./DE	0.400	6/26/13	2,000,000	1,998,974
Marriott International, Inc./DE	0.370	6/12/13	1,500,000	1,499,464
Marriott International, Inc./DE	0.350	5/21/13	1,000,000	999,837
Marriott International, Inc./DE	0.350	5/1/13	455,000	454,997
National Grid Holdings, Ltd. (United Kingdom)	0.320	5/7/13	671,000	670,967
Northern Pines Funding, LLC (Germany)	0.603	10/28/13	3,000,000	2,994,238
Societe Generale North America (France)	0.601	5/2/13	375,000	374,996
Spectra Energy Partners, LP	0.500	5/8/13	1,000,000	999,926
Spectra Energy Partners, LP	0.410	5/3/13	3,500,000	3,499,904
Stanley Black & Decker, Inc.	0.411	6/18/13	3,500,000	3,498,952
Stanley Black & Decker, Inc.	0.360	6/11/13	1,550,000	1,549,620
Stanley Black & Decker, Inc.	0.370	5/28/13	1,900,000	1,899,749
Vodafone Group PLC (United Kingdom)	0.807	1/2/14	2,000,000	1,992,096
Vodafone Group PLC (United Kingdom)	0.756	12/30/13	1,000,000	996,143
Vodafone Group PLC 144A (United Kingdom)	0.728	5/2/13	400,000	399,994
Wyndham Worldwide Corp.	0.840	5/9/13	1,500,000	1,499,829
Wyndham Worldwide Corp.	0.750	5/3/13	3,000,000	2,999,888
Total commercial paper (cost $63,155,708)				$63,186,024
CERTIFICATES OF DEPOSIT (2.6%)(a)
	Interest rate (%)	Maturity date	Principal amount	Value
Abbey National Treasury Services PLC FRN (United Kingdom)	1.631	6/10/13	$2,500,000	$2,503,483
Bank of Montreal/Chicago, IL FRN (Canada)	0.733	10/3/13	500,000	501,034
Bank of Montreal/Chicago, IL FRN (Canada)	0.490	8/15/13	1,100,000	1,100,946
Bank of Nova Scotia/Houston FRN	0.826	1/27/14	300,000	301,418
Bank of Nova Scotia/Houston FRN	0.630	9/17/13	700,000	701,261
Bank of Nova Scotia/Houston FRN	0.480	9/12/13	400,000	400,473
Barclays Bank PLC/New York, NY FRN (United Kingdom)	0.778	2/3/14	2,600,000	2,605,031
Canadian Imperial Bank of Commerce/New York, NY FRN (Canada)	0.989	2/20/15	1,000,000	1,004,467
Canadian Imperial Bank of Commerce/New York, NY FRN (Canada)	0.538	11/26/14	1,000,000	999,712
Commonwealth Bank of Australia FRN (Australia)	1.528	1/17/14	350,000	353,229
National Australia Bank, Ltd./New York FRN (Australia)	1.476	1/30/14	500,000	503,584
National Bank Cananda/New York, NY FRN	0.360	8/16/13	1,000,000	1,000,327
National Bank of Cananda (Canada)	0.550	7/11/13	247,000	247,153
Nordea Bank Finland PLC/New York FRN	0.780	2/19/16	2,000,000	1,998,910
Sumitomo Mitsui Bank/New York FRN (Japan)	0.625	5/8/14	2,000,000	2,000,002
Svenska Handelsbanken/New York, NY FRN (Sweden)	1.078	7/17/14	1,650,000	1,654,051
Toronto-Dominion Bank/NY (Canada)	0.330	11/7/13	300,000	300,222
Toronto-Dominion Bank/NY (Canada)	0.280	9/13/13	1,400,000	1,400,735
UBS AG/Stamford, CT	0.520	2/26/14	2,500,000	2,502,082
Westpac Banking Corp./NY (Australia)	0.330	11/6/13	1,100,000	1,100,616
Total certificates of deposit (cost $23,167,590)				$23,178,736
ASSET-BACKED COMMERCIAL PAPER (1.4%)(a)
	Yield (%)	Maturity date	Principal amount	Value
CAFCO, LLC	0.734	8/9/13	$800,000	$799,406
CAFCO, LLC 144A	0.806	12/27/13	2,000,000	1,993,279
CHARTA, LLC	0.735	2/4/14	1,000,000	997,589
CHARTA, LLC 144A	0.807	12/3/13	1,500,000	1,495,416
CIESCO, LP 144A	0.806	12/27/13	2,000,000	1,993,279
CIESCO-LP	0.441	8/12/13	275,000	274,787
CRC Funding, LLC	0.695	2/28/14	1,700,000	1,692,664
CRC Funding, LLC	0.694	9/30/13	2,000,000	1,996,915
Govco, LLC	0.451	8/19/13	1,000,000	999,010
Govco, LLC	0.431	8/2/13	250,000	249,802
Total asset-backed commercial paper (cost $12,471,488)				$12,492,147
REPURCHASE AGREEMENTS (1.2%)(a)
			Principal amount	Value
Interest in $9,000,000 joint tri-party repurchase agreement dated 4/30/13 with BNP Paribas due 5/1/13 - maturity value of $7,500,052 for an effective yield of 0.25% (collateralized by various corportate bonds and notes with coupon rates ranging from 1.25% to 7.45% and due dates ranging from 10/25/13 to 11/24/33, valued at $9,451,399)			$7,500,000	$7,500,000
Interest in $77,750,000 joint tri-party repurchase agreement dated 4/30/13 with Credit Suisse Securities (USA) due 5/1/13 - maturity value of $3,000,021 for an effective yield of 0.25% (collateralized by various corporate bonds and notes with coupon rates ranging from 0.85% to 6.50% and due dates ranging from 1/20/15 to 3/18/43, valued at $81,638,473)			3,000,000	3,000,000
Total repurchase agreements (cost $10,500,000)				$10,500,000
MUNICIPAL BONDS AND NOTES (0.7%)(a)
	Yield (%)	Maturity date	Principal amount	Value
Albany, NY Indl. Dev. Agcy. VRDN (Albany Inst. of History), Ser. A	0.350	6/1/19	$375,000	$375,000
Athens-Clark Cnty., GA Indl. Dev. Auth. VRDN (Allen Properties, Inc.)	0.410	12/1/24	740,000	740,000
Union Cnty., AZ Indl. Dev. VRDN (Del-Tin Fiber LLC)	0.410	10/1/27	1,700,000	1,700,000
WI Hsg. & Econ. Dev. Auth. VRDN, Ser. D	0.530	3/1/38	3,200,000	3,200,000
Total municipal bonds and notes (cost $6,015,000)				$6,015,000
U.S. GOVERNMENT AND AGENCY MORTGAGE OBLIGATIONS (—%)(a)
	Interest rate (%)	Maturity date	Principal amount	Value
Federal National Mortgage Association Pass-Through Certificates(FWC)	6.000	9/1/19	$79,171	$84,934
Total U.S. government and agency mortgage obligations (cost $85,109)				$84,934
TOTAL INVESTMENTS
Total investments (cost $856,861,272)(b)				$857,726,462

Key to holding's abbreviations
FRB	Floating Rate Bonds: the rate shown is the current interest rate at the close of the reporting period
FRN	Floating Rate Notes: the rate shown is the current interest rate at the close of the reporting period
LOC	Letter of Credit
MTN	Medium Term Notes
MTNB	Medium Term Notes Class B
PO	Principal Only
VRDN	Variable Rate Demand Notes, which are floating-rate securities with long-term maturities, that carry coupons that reset every one or seven days. The rate shown is the current interest rate at the close of the reporting period.

	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 August 1, 2012 through April 30, 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 $882,519,792.
(b)	The aggregate identified cost on a tax basis is $856,861,273, resulting in gross unrealized appreciation and depreciation of $865,189 and $00, respectively, or net unrealized appreciation of $865,189.
(FWC)	Forward commitment, in part or in entirety.
(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.
(R)	Real Estate Investment Trust.
	Debt obligations are considered secured unless otherwise indicated.
	144A after the name of an issuer represents securities exempt from registration under Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
	The dates shown on debt obligations are the original maturity dates.
	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	72.2%
	United Kingdom	8.8
	Canada	4.2
	Netherlands	3.7
	Australia	2.7
	Sweden	1.8
	Japan	1.7
	France	1.5
	Denmark	1.1
	Germany	0.9
	Israel	0.7
	Other	0.7
	Total	100.0%
	Security valuation: Market quotations are not considered to be readily available for certain debt obligations and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. 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. Certain securities may be valued on the basis of a price provided by a single source. 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.
	Repurchase agreements: The fund, or any joint trading account, through its custodian, receives delivery of the underlying securities, the market value of which at the time of purchase is required to be in an amount at least equal to the resale price, including accrued interest. Collateral for certain tri-party repurchase agreements is held at the counterparty’s custodian in a segregated account for the benefit of the fund and the counterparty. Putnam Management is responsible for determining that the value of these underlying securities is at all times at least equal to the resale price, including accrued interest. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings.
	Stripped securities: The fund may invest in stripped securities which represent a participation in securities that may be structured in classes with rights to receive different portions of the interest and principal. Interest-only securities receive all of the interest and principal-only securities receive all of the principal. If the interest-only securities experience greater than anticipated prepayments of principal, the fund may fail to recoup fully its initial investment in these securities. Conversely, principal-only securities increase in value if prepayments are greater than anticipated and decline if prepayments are slower than anticipated. The market value of these securities is highly sensitive to changes in interest rates.

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
Asset-backed commercial paper	$—	$12,492,147	$—
Certificates of deposit	—	23,178,736	—
Commercial paper	—	63,186,024	—
Corporate bonds and notes	—	645,520,356	—
Mortgage-backed securities	—	96,749,265	—
Municipal bonds and notes	—	6,015,000	—
Repurchase agreements	—	10,500,000	—
U.S. government and agency mortgage obligations	—	84,934	—
Totals by level	$—	$857,726,462	$—
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: June 27, 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: June 27, 2013

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: June 27, 2013