N-Q 1 a_smallcapgrwth.htm PUTNAM FUNDS TRUST a_smallcapgrwth.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, 2014
Date of reporting period: September 30, 2013



Item 1. Schedule of Investments:














Putnam Small Cap Growth Fund

The fund's portfolio
9/30/13 (Unaudited)
COMMON STOCKS (97.3%)(a)
Shares Value

Aerospace and defense (1.2%)
Astronics Corp.(NON) 9,900 $492,129
HEICO Corp.(S) 8,300 562,242
Sparton Corp.(NON) 25,000 637,500

1,691,871
Airlines (1.1%)
Hawaiian Holdings, Inc.(NON)(S) 38,800 288,672
Spirit Airlines, Inc.(NON) 16,100 551,747
US Airways Group, Inc.(NON)(S) 38,300 726,168

1,566,587
Auto components (0.4%)
Tenneco, Inc.(NON) 11,100 560,550

560,550
Biotechnology (6.4%)
ACADIA Pharmaceuticals, Inc.(NON)(S) 28,600 785,642
Aegerion Pharmaceuticals, Inc.(NON) 3,600 308,556
Alkermes PLC(NON) 13,800 463,956
Array BioPharma, Inc.(NON) 60,000 373,200
Biospecifics Technologies Corp.(NON) 7,500 146,025
Conatus Pharmaceuticals, Inc.(NON) 8,700 87,435
Cubist Pharmaceuticals, Inc.(NON) 24,344 1,547,061
Exact Sciences Corp.(NON)(S) 4,543 53,653
Gentium SpA ADR (Italy)(NON) 70,600 1,915,378
Incyte Corp., Ltd.(NON) 7,600 289,940
Insys Therapeutics, Inc.(NON)(S) 28,300 990,217
Isis Pharmaceuticals, Inc.(NON)(S) 9,500 356,630
Lexicon Pharmaceuticals, Inc.(NON)(S) 81,216 192,482
NewLink Genetics Corp.(NON)(S) 12,800 240,384
NPS Pharmaceuticals, Inc.(NON) 15,100 480,331
PDL BioPharma, Inc.(S) 17,600 140,272
Receptos, Inc.(NON) 7,300 189,581
Repligen Corp.(NON)(S) 28,700 318,283
Spectrum Pharmaceuticals, Inc.(S) 19,818 166,273
United Therapeutics Corp.(NON)(S) 3,670 289,380

9,334,679
Building products (0.8%)
Trex Co., Inc.(NON)(S) 22,800 1,129,284

1,129,284
Capital markets (1.5%)
Greenhill & Co., Inc. 11,700 583,596
HFF, Inc. Class A 44,000 1,102,200
Safeguard Scientifics, Inc.(NON) 30,900 484,821

2,170,617
Chemicals (3.9%)
American Vanguard Corp. 8,351 224,809
Chemtura Corp.(NON) 35,000 804,650
FutureFuel Corp. 40,000 718,400
Innophos Holdings, Inc. 11,749 620,112
Innospec, Inc. 20,648 963,436
Koppers Holdings, Inc.(S) 6,700 285,755
Landec Corp.(NON) 49,200 600,240
LSB Industries, Inc.(NON) 36,305 1,217,307
Tronox, Ltd. Class A(S) 10,500 256,935

5,691,644
Commercial banks (0.5%)
Eagle Bancorp, Inc. 23,540 665,947

665,947
Commercial services and supplies (1.4%)
G&K Services, Inc. Class A 6,800 410,652
KAR Auction Services, Inc. 39,300 1,108,653
Mine Safety Appliances Co. 10,300 531,583

2,050,888
Communications equipment (4.3%)
Arris Group, Inc.(NON) 13,700 233,722
Aruba Networks, Inc.(NON) 14,714 244,841
Brocade Communications Systems, Inc.(NON) 81,200 653,660
CalAmp Corp.(NON) 44,817 790,124
Calix, Inc.(NON) 22,700 288,971
EchoStar Corp. Class A(NON) 41,235 1,811,866
Ixia(NON) 9,326 146,138
Plantronics, Inc. 6,000 276,300
Procera Networks, Inc.(NON)(S) 30,300 469,347
Ruckus Wireless, Inc.(NON) 30,000 504,900
Ubiquiti Networks, Inc.(S) 24,700 829,673

6,249,542
Computers and peripherals (0.3%)
Silicon Graphics International Corp.(NON) 26,784 435,240

435,240
Consumer finance (1.8%)
Credit Acceptance Corp.(NON) 5,600 620,536
DFC Global Corp.(NON) 43,600 479,164
Encore Capital Group, Inc.(NON)(S) 15,900 729,174
Portfolio Recovery Associates, Inc.(NON)(S) 12,000 719,280

2,548,154
Distributors (1.3%)
Core-Mark Holding Co., Inc. 12,600 837,144
Pool Corp. 7,800 437,814
VOXX International Corp.(NON) 47,847 655,504

1,930,462
Diversified consumer services (1.8%)
Ascent Capital Group, Inc. Class A(NON) 3,600 290,232
Bright Horizons Family Solutions, Inc.(NON) 20,100 720,183
Grand Canyon Education, Inc.(NON) 7,900 318,212
ITT Educational Services, Inc.(NON)(S) 43,100 1,336,100

2,664,727
Diversified telecommunication services (0.4%)
Inteliquent, Inc. 36,500 352,590
Iridium Communications, Inc.(NON)(S) 32,800 225,664

578,254
Electrical equipment (3.9%)
AZZ, Inc. 20,700 866,502
Brady Corp. Class A 15,900 484,950
EnerSys 15,600 945,828
Franklin Electric Co., Inc. 36,794 1,449,684
Generac Holdings, Inc.(S) 25,779 1,099,217
II-VI, Inc.(NON) 30,400 572,128
Polypore International, Inc.(NON)(S) 6,300 258,111

5,676,420
Electronic equipment, instruments, and components (1.5%)
Anixter International, Inc.(NON) 8,400 736,344
FEI Co. 6,660 584,748
MTS Systems Corp. 6,733 433,269
Tech Data Corp.(NON) 7,900 394,289

2,148,650
Energy equipment and services (0.7%)
Helix Energy Solutions Group, Inc.(NON) 23,712 601,573
Key Energy Services, Inc.(NON)(S) 56,850 414,437

1,016,010
Food and staples retail (0.7%)
Roundy's, Inc. 59,600 512,560
United Natural Foods, Inc.(NON) 7,600 510,872

1,023,432
Food products (0.8%)
Hain Celestial Group, Inc. (The)(NON) 5,800 447,296
Pinnacle Foods, Inc. 12,481 330,372
S&W Seed Co.(NON)(S) 50,900 426,033

1,203,701
Health-care equipment and supplies (6.8%)
Abaxis, Inc. 6,600 277,860
Accuray, Inc.(NON) 57,900 427,881
Alere, Inc.(NON) 16,400 501,348
Align Technology, Inc.(NON)(S) 12,600 606,312
Conmed Corp. 23,296 791,831
Cyberonics, Inc.(NON) 6,000 304,440
DexCom, Inc.(NON)(S) 14,400 406,512
GenMark Diagnostics, Inc.(NON)(S) 73,882 897,666
Globus Medical, Inc. Class A(NON) 25,700 448,722
Greatbatch, Inc.(NON) 27,482 935,212
Haemonetics Corp.(NON) 12,100 482,548
Hill-Rom Holdings, Inc. 14,500 519,535
Insulet Corp.(NON)(S) 18,600 674,064
NxStage Medical, Inc.(NON) 28,100 369,796
STAAR Surgical Co.(NON) 73,620 996,815
Steris Corp. 13,100 562,776
TearLab Corp.(NON) 17,600 194,656
Trinity Biotech PLC ADR (Ireland) 22,800 496,128

9,894,102
Health-care providers and services (4.0%)
AmSurg Corp.(NON) 11,141 442,298
Bio-Reference Labs, Inc.(NON)(S) 6,900 206,172
Centene Corp.(NON) 5,868 375,317
Chemed Corp.(S) 10,900 779,350
HealthSouth Corp.(NON) 27,000 930,960
Magellan Health Services, Inc.(NON) 7,200 431,712
MWI Veterinary Supply, Inc.(NON) 6,100 911,096
Providence Service Corp. (The)(NON) 24,200 694,298
WellCare Health Plans, Inc.(NON) 14,050 979,847

5,751,050
Health-care technology (1.0%)
athenahealth, Inc.(NON) 2,800 303,968
Computer Programs & Systems, Inc.(S) 4,967 290,570
HMS Holdings Corp.(NON)(S) 11,300 243,063
MedAssets, Inc.(NON) 26,800 681,256

1,518,857
Hotels, restaurants, and leisure (1.9%)
AFC Enterprises(NON) 14,037 611,873
Marcus Corp. 26,800 389,404
Papa John's International, Inc. 12,600 880,488
Town Sports International Holdings, Inc. 33,192 430,832
Vail Resorts, Inc. 6,200 430,156

2,742,753
Household durables (0.5%)
La-Z-Boy, Inc. 9,500 215,745
Ryland Group, Inc. (The)(S) 13,500 547,290

763,035
Household products (0.4%)
Harbinger Group, Inc.(NON) 52,400 543,388

543,388
Insurance (0.4%)
Stewart Information Services Corp.(S) 17,600 563,024

563,024
Internet and catalog retail (0.7%)
Blue Nile, Inc.(NON) 10,900 446,137
HSN, Inc. 11,462 614,592

1,060,729
Internet software and services (2.6%)
Angie's List, Inc.(NON)(S) 12,500 281,250
Cornerstone OnDemand, Inc.(NON)(S) 11,800 606,992
Demand Media, Inc.(NON) 21,500 135,880
IntraLinks Holdings, Inc.(NON) 73,400 645,920
NIC, Inc. 18,800 434,468
OpenTable, Inc.(NON) 6,000 419,880
SciQuest, Inc.(NON)(S) 12,000 269,520
ValueClick, Inc.(NON)(S) 16,900 352,365
XO Group, Inc.(NON) 47,000 607,240

3,753,515
IT Services (1.9%)
Acxiom Corp.(NON) 23,400 664,326
CSG Systems International, Inc. 10,900 273,045
FleetCor Technologies, Inc.(NON) 3,200 352,512
Global Cash Access Holdings, Inc.(NON) 57,200 446,732
MAXIMUS, Inc. 10,000 450,400
NeuStar, Inc. Class A(NON)(S) 6,681 330,576
VeriFone Systems, Inc.(NON) 12,300 281,178

2,798,769
Leisure equipment and products (0.4%)
Brunswick Corp. 15,004 598,810

598,810
Life sciences tools and services (0.2%)
Sequenom, Inc.(NON)(S) 94,400 252,048

252,048
Machinery (3.7%)
Altra Holdings, Inc. 22,200 597,402
Chart Industries, Inc.(NON)(S) 7,871 968,448
Greenbrier Companies, Inc.(NON)(S) 26,800 662,764
Kadant, Inc. 11,900 399,721
L.B. Foster Co. Class A 13,544 619,503
Navistar International Corp.(NON)(S) 9,600 350,208
Standex International Corp. 12,600 748,440
TriMas Corp.(NON) 28,682 1,069,839

5,416,325
Media (1.6%)
Carmike Cinemas, Inc.(NON) 31,100 686,688
LIN Media, LLC Class A(NON) 31,700 643,193
ReachLocal, Inc.(NON)(S) 21,400 254,874
Sinclair Broadcast Group, Inc. Class A 22,747 762,479

2,347,234
Metals and mining (0.3%)
Horsehead Holding Corp.(NON)(S) 34,600 431,116

431,116
Multiline retail (0.6%)
Big Lots, Inc.(NON) 14,800 548,932
Dillards, Inc. Class A 4,700 368,010

916,942
Oil, gas, and consumable fuels (3.1%)
Alpha Natural Resources, Inc.(NON)(S) 141,600 843,936
Callon Petroleum Co.(NON) 64,900 355,003
Gulfport Energy Corp.(NON) 4,700 302,398
Kodiak Oil & Gas Corp.(NON) 59,500 717,570
Rosetta Resources, Inc.(NON)(S) 9,413 512,632
StealthGas, Inc. (Greece)(NON) 32,600 297,964
Swift Energy Co.(NON)(S) 13,876 158,464
Vaalco Energy, Inc.(NON) 61,900 345,402
W&T Offshore, Inc.(S) 25,194 446,438
World Fuel Services Corp.(S) 15,500 578,305

4,558,112
Paper and forest products (0.1%)
Louisiana-Pacific Corp.(NON) 9,100 160,069

160,069
Personal products (0.7%)
Prestige Brands Holdings, Inc.(NON) 31,500 948,780

948,780
Pharmaceuticals (5.2%)
Auxilium Pharmaceuticals, Inc.(NON) 30,500 556,015
Endo Health Solutions, Inc.(NON) 11,800 536,192
Hi-Tech Pharmacal Co., Inc. 8,748 377,476
Jazz Pharmaceuticals PLC(NON) 22,305 2,051,391
Medicines Co. (The)(NON) 12,818 429,659
Questcor Pharmaceuticals, Inc.(S) 10,500 609,000
Salix Pharmaceuticals, Ltd.(NON) 6,182 413,452
Santarus, Inc.(NON) 18,800 424,316
ViroPharma, Inc.(NON)(S) 56,424 2,217,459

7,614,960
Professional services (3.5%)
Acacia Research Corp.(S) 12,487 287,950
Barrett Business Services, Inc. 11,900 800,989
Corporate Executive Board Co. (The)(S) 7,400 537,388
Kforce, Inc. 24,700 436,943
On Assignment, Inc.(NON) 27,300 900,900
TrueBlue, Inc.(NON) 50,100 1,202,901
WageWorks, Inc.(NON) 18,687 942,759

5,109,830
Real estate investment trusts (REITs) (1.5%)
CoreSite Realty Corp.(S) 8,339 283,026
Education Realty Trust, Inc. 45,000 409,500
Geo Group, Inc. (The) 10,154 337,621
PS Business Parks, Inc. 9,100 679,042
Sovran Self Storage, Inc. 5,900 446,512

2,155,701
Real estate management and development (0.3%)
St. Joe Co. (The)(NON) 24,818 486,929

486,929
Road and rail (1.2%)
Con-way, Inc. 20,100 866,109
Swift Transportation Co.(NON)(S) 46,168 932,132

1,798,241
Semiconductors and semiconductor equipment (4.2%)
Cavium, Inc.(NON)(S) 7,500 309,000
Ceva, Inc.(NON) 22,800 393,300
Cirrus Logic, Inc.(NON)(S) 21,300 483,084
Fairchild Semiconductor International, Inc.(NON) 27,100 376,419
Integrated Silicon Solutions, Inc.(NON) 34,400 374,616
Magnachip Semiconductor Corp. (South Korea)(NON) 20,116 433,097
Mellanox Technologies, Ltd. (Israel)(NON) 10,600 402,376
Microsemi Corp.(NON) 17,100 414,675
Omnivision Technologies, Inc.(NON)(S) 25,976 397,693
Photronics, Inc.(NON)(S) 75,292 589,536
RF Micro Devices, Inc.(NON) 117,900 664,956
Semtech Corp.(NON) 9,000 269,910
Silicon Image, Inc.(NON) 111,800 597,012
Synaptics, Inc.(NON)(S) 10,500 464,940

6,170,614
Software (8.6%)
Actuate Corp.(NON) 116,902 859,230
Aspen Technology, Inc.(NON) 24,237 837,388
AVG Technologies NV (Netherlands)(NON) 12,400 296,856
Bottomline Technologies, Inc.(NON) 9,200 256,496
BroadSoft, Inc.(NON)(S) 5,200 187,356
Commvault Systems, Inc.(NON) 11,300 992,479
Infoblox, Inc.(NON) 17,286 722,901
Manhattan Associates, Inc.(NON) 13,130 1,253,259
Mentor Graphics Corp.(S) 36,900 862,353
Netscout Systems, Inc.(NON) 23,600 603,452
PTC, Inc.(NON) 23,100 656,733
QLIK Technologies, Inc.(NON) 11,800 404,032
SS&C Technologies Holdings, Inc.(NON) 21,903 834,504
TiVo, Inc.(NON) 25,100 312,244
Tyler Technologies, Inc.(NON) 12,600 1,102,122
Ultimate Software Group, Inc.(NON) 10,197 1,503,038
Verint Systems, Inc.(NON) 14,900 552,194
Zynga, Inc. Class A(NON)(S) 83,000 305,440

12,542,077
Specialty retail (4.3%)
ANN, Inc.(NON) 15,900 575,898
Brown Shoe Co., Inc. 17,400 408,378
Buckle, Inc. (The)(S) 5,253 283,925
Destination Maternity Corp. 29,800 947,640
Five Below, Inc.(NON) 5,241 229,294
Francesca's Holdings Corp.(NON)(S) 10,300 191,992
Genesco, Inc.(NON)(S) 5,888 386,135
Lumber Liquidators Holdings, Inc.(NON) 4,300 458,595
Men's Wearhouse, Inc. (The) 10,300 350,715
Pier 1 Imports, Inc. 13,900 271,328
Sears Hometown and Outlet Stores, Inc.(NON) 8,800 279,400
Select Comfort Corp.(NON)(S) 19,000 462,650
Sonic Automotive, Inc. Class A 26,528 631,366
Tile Shop Holdings, Inc.(NON) 27,896 822,653

6,299,969
Textiles, apparel, and luxury goods (0.8%)
Crocs, Inc.(NON) 15,800 215,038
Perry Ellis International, Inc. 21,100 397,524
Steven Madden, Ltd.(NON) 10,600 570,598

1,183,160
Thrifts and mortgage finance (1.0%)
BofI Holding, Inc.(NON)(S) 14,437 936,384
Heritage Financial Group, Inc. 25,900 451,178

1,387,562
Trading companies and distributors (1.0%)
Beacon Roofing Supply, Inc.(NON)(S) 10,505 387,319
DXP Enterprises, Inc.(NON) 8,250 651,503
WESCO International, Inc.(NON)(S) 5,700 436,221

1,475,043
Wireless telecommunication services (0.1%)
RingCentral, Inc. Class A(NON) 6,042 108,877

108,877

Total common stocks (cost $104,315,008) $141,688,280

SHORT-TERM INVESTMENTS (22.4%)(a)
Shares Value

Putnam Cash Collateral Pool, LLC 0.13%(d) 28,276,554 $28,276,554
Putnam Short Term Investment Fund 0.06%(AFF) 4,311,594 4,311,594

Total short-term investments (cost $32,588,148) $32,588,148

TOTAL INVESTMENTS

Total investments (cost $136,903,156)(b) $174,276,428














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, 2013 through September 30, 2013 (the reporting period). Within the following notes to the portfolio, references to “ASC 820” represent Accounting Standards Codification 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 $145,675,029.
(b) The aggregate identified cost on a tax basis is $137,000,042, resulting in gross unrealized appreciation and depreciation of $40,190,712 and $2,914,326, respectively, or net unrealized appreciation of $37,276,386.
(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 Short Term Investment Fund, which is 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 Short Term Investment Fund * $3,655,054 $13,561,456 $12,904,916 $677 $4,311,594
* Management fees charged to 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 $27,643,609. Certain of these securities were sold prior to the close of the reporting period.
The fund received cash collateral of $28,276,554, 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.
(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 valued 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 in accordance with policies and procedures approved by the Trustees. 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 $21,068,371 $— $—
    Consumer staples 3,719,301
    Energy 5,574,122
    Financials 9,977,934
    Health care 34,365,696
    Industrials 25,914,489
    Information technology 34,098,407
    Materials 6,282,829
    Telecommunication services 687,131
Total common stocks 141,688,280
Short-term investments 4,311,594 28,276,554



Totals by level $145,999,874 $28,276,554 $—


* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation.
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: November 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: November 26, 2013

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