| 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: | Bryan Chegwidden, Esq. Ropes & Gray LLP 1211 Avenue of the Americas New York, New York 10036 |
| Registrant’s telephone number, including area code: | (617) 292-1000 |
| Date of fiscal year end: | November 30, 2015 |
| Date of reporting period: | February 28, 2015 |
Item 1. Schedule of Investments: |
| Putnam Short-Term Municipal Income Fund | |||||||||
| The fund's portfolio | |||||||||
| 2/28/15 (Unaudited) | |||||||||
| Key to holding's abbreviations | |||||||||
| ABAG — Association Of Bay Area Governments | |||||||||
| AGM — Assured Guaranty Municipal Corporation | |||||||||
| AGO — Assured Guaranty, Ltd. | |||||||||
| AMBAC — AMBAC Indemnity Corporation | |||||||||
| COP — Certificates of Participation | |||||||||
| FGIC — Financial Guaranty Insurance Company | |||||||||
| FHA Insd. — Federal Housing Administration Insured | |||||||||
| G.O. Bonds — General Obligation Bonds | |||||||||
| NATL — National Public Finance Guarantee Corp. | |||||||||
| PSFG — Permanent School Fund Guaranteed | |||||||||
| Q-SBLF — Qualified School Board Loan Fund | |||||||||
| MUNICIPAL BONDS AND NOTES (95.8%)(a) | |||||||||
| Rating(RAT) | Principal amount | Value | |||||||
| Arizona (5.2%) | |||||||||
| AZ Agricultural Impt. & Pwr. Dist. Elec. Syst. Rev. Bonds | |||||||||
| Ser. B, 4s, 1/1/16 | Aa1 | $25,000 | $25,785 | ||||||
| Ser. A, 3s, 1/1/16 | Aa1 | 35,000 | 35,822 | ||||||
| AZ School Fac. Board COP, Ser. A-2, 4s, 9/1/15 | A1 | 100,000 | 101,811 | ||||||
| AZ State Hlth. Fac. Auth. Rev. Bonds (Banner Hlth.), Ser. A, 5s, 1/1/17 | AA- | 50,000 | 53,968 | ||||||
| AZ State U. Rev. Bonds, Ser. 08-C, 5 1/2s, 7/1/15 | AA | 50,000 | 50,869 | ||||||
| AZ Wtr. Infrastructure Fin. Auth. Rev. Bonds (Wtr. Quality), Ser. A, 3s, 10/1/17 | Aaa | 100,000 | 105,806 | ||||||
| Gilbert, Pub. Facs. Rev. Bonds, 5s, 7/1/18 | AA+ | 100,000 | 112,908 | ||||||
| Northern AZ U. Rev. Bonds, NATL, FGIC, 5 1/4s, 6/1/15 | AA- | 45,000 | 45,544 | ||||||
| Phoenix, Indl. Dev. Auth. Ed. Rev. Bonds (Great Hearts Academies), 3 3/4s, 7/1/24 | BB+ | 25,000 | 25,413 | ||||||
| U. Med. Ctr. Corp. Rev. Bonds, 5s, 7/1/17 (Escrowed to maturity) | Baa2 | 75,000 | 81,172 | ||||||
| 639,098 | |||||||||
| California (12.6%) | |||||||||
| ABAG Fin. Auth. for Nonprofit Corps. Rev. Bonds (O'Connor Woods), 3s, 1/1/16 | A+ | 70,000 | 71,304 | ||||||
| Bay Area Toll Auth. of CA Rev. Bonds (San Francisco Bay Area), Ser. F, 5s, 4/1/15 | AA | 30,000 | 30,115 | ||||||
| CA Hlth. Fac. Fin. Auth. Rev. Bonds | |||||||||
| (Cedars-Sinai Med. Ctr.), 5s, 11/15/15 | A1 | 50,000 | 51,682 | ||||||
| (Northern CA Retirement Officers), 4s, 1/1/16 | A+ | 50,000 | 51,528 | ||||||
| CA State Poll. Control Fin. Auth. Solid Waste Disp. Mandatory Put Bonds (5/1/15) (Republic Svcs., Inc.), Ser. A, 0.4s, 8/1/23 | BBB+ | 100,000 | 100,001 | ||||||
| CA State G.O. Bonds, 5s, 9/1/15 | Aa3 | 25,000 | 25,601 | ||||||
| CA State Mandatory Put Bonds (12/1/16), 4s, 12/1/26 | Aa3 | 150,000 | 156,489 | ||||||
| CA State Pub. Wks. Board Rev. Bonds (Dept. of Forestry & Fire), Ser. E, 5s, 11/1/15 | A1 | 100,000 | 103,237 | ||||||
| CA Statewide Cmnty. Dev. Auth. Mandatory Put Bonds (4/2/18) (Southern CA Edison Co.), 1 3/8s, 4/1/28 | Aa3 | 75,000 | 75,305 | ||||||
| CA Statewide Cmnty. Dev. Auth. Rev. Bonds | |||||||||
| AGM, 5s, 11/15/19 | AA | 100,000 | 116,309 | ||||||
| (Henry Mayo Newhall Memorial Hosp.), 5s, 10/1/16 (Escrowed to maturity) | A+ | 45,000 | 48,299 | ||||||
| Chula Vista, Muni. Fin. Auth. Special Tax Bonds, 5s, 9/1/16 | BBB+ | 75,000 | 78,698 | ||||||
| Corona-Norco, School Dist. Pub. Fin. Auth. Special Tax Bonds, Ser. A, 4s, 9/1/17 | BBB+ | 25,000 | 26,886 | ||||||
| Golden State Tobacco Securitization Corp. Rev. Bonds, Ser. A, 5s, 6/1/17 | A1 | 50,000 | 54,997 | ||||||
| Irvine, Special Tax Bonds (Cmnty. Facs. Dist. No. 2005), Ser. 2, 4s, 9/1/18 | BBB | 75,000 | 79,462 | ||||||
| Irvine, Impt. Board Act of 1915 Special Assmt. Bonds (Dist. No. 1), 4s, 9/2/16 | BBB- | 50,000 | 52,182 | ||||||
| Los Angeles, G.O. Bonds, Ser. A, NATL, FGIC, 5 1/4s, 9/1/15 | Aa2 | 35,000 | 35,882 | ||||||
| Los Angeles, Dept. of Arpt. Rev. Bonds (Los Angeles Intl. Arpt.), Ser. A, 5 1/4s, 5/15/24 | AA | 20,000 | 22,452 | ||||||
| Modesto, Irrigation Dist. Elec. Rev. Bonds, Ser. A, 5s, 7/1/19 | A+ | 30,000 | 34,914 | ||||||
| North Natomas, Cmnty. Fac. Special Tax Bonds, Ser. E, 5s, 9/1/16 | BBB+ | 75,000 | 79,535 | ||||||
| Northern CA Pwr. Agcy. Rev. Bonds | |||||||||
| (Geothermal No. 3), Ser. A, 5 1/4s, 7/1/20 | A1 | 40,000 | 46,789 | ||||||
| (Hydroelec. Project No. 1-C), AGM, 5s, 7/1/16 | AA | 40,000 | 42,418 | ||||||
| San Francisco, City & Cnty. Arpt. Comm. Rev. Bonds, Ser. 34C, AGO, 4 1/4s, 5/1/15 | AA | 100,000 | 100,661 | ||||||
| South Orange Cnty., Pub. Fin. Auth. Special Tax Bonds, Ser. A, 4s, 8/15/17 | BBB+ | 50,000 | 53,769 | ||||||
| 1,538,515 | |||||||||
| Colorado (1.0%) | |||||||||
| Denver City & Cnty., Arpt. Rev. Bonds, Ser. A | |||||||||
| 5s, 11/15/16 | A2 | 75,000 | 80,418 | ||||||
| 4s, 11/15/17 | A1 | 20,000 | 21,682 | ||||||
| E-470 CO Pub. Hwy. Auth. Rev. Bonds, Ser. A1, NATL, 5 1/4s, 9/1/18 | AA- | 20,000 | 22,571 | ||||||
| 124,671 | |||||||||
| Connecticut (0.6%) | |||||||||
| CT State Hlth. & Edl. Fac. Auth. Mandatory Put Bonds (7/21/16) (Yale U.), Ser. A, 1.35s, 7/1/42 | Aaa | 75,000 | 76,074 | ||||||
| 76,074 | |||||||||
| District of Colombia (0.7%) | |||||||||
| DC G.O. Bonds, Ser. C, AGM, 5s, 6/1/16 | Aa2 | 75,000 | 79,365 | ||||||
| 79,365 | |||||||||
| Florida (3.1%) | |||||||||
| Citizens Property Insurance Corp. Rev. Bonds, Ser. A-1, 5 3/8s, 6/1/16 | A+ | 15,000 | 15,900 | ||||||
| Escambia Cnty., Hlth. Facs. Auth. Rev. Bonds | |||||||||
| (Baptist Hlth. Care Corp. Oblig. Grp.), Ser. A, 5 1/8s, 8/15/20 | A3 | 30,000 | 34,531 | ||||||
| (Baptist Hosp., Inc.), 5s, 8/15/18 | A3 | 60,000 | 66,665 | ||||||
| FL State Muni. Pwr. Agcy. Rev. Bonds (All Requirements Pwr.), Ser. A, 4s, 10/1/16 | A2 | 50,000 | 52,710 | ||||||
| Kissimmee, Util. Auth. Rev. Bonds, AMBAC, 5s, 10/1/16 | A1 | 50,000 | 51,332 | ||||||
| Miami-Dade Cnty., Wtr. & Swr. Rev. Bonds, Ser. B, AGM, 5s, 10/1/15 | AA | 50,000 | 51,390 | ||||||
| South Broward, Hosp. Dist. Rev. Bonds (South Broward Hosp. Dist.), 4s, 5/1/16 | Aa3 | 100,000 | 104,311 | ||||||
| 376,839 | |||||||||
| Georgia (1.1%) | |||||||||
| Atlanta, Arpt. Passenger Fac. Charge Rev. Bonds, Ser. B, 5s, 1/1/16 | A1 | 25,000 | 25,980 | ||||||
| Bartow Cnty., Dev. Auth. Mandatory Put Bonds (8/10/17) (GA Power Co. - Plant Bowen), 2 3/8s, 9/1/29 | A | 100,000 | 103,345 | ||||||
| 129,325 | |||||||||
| Hawaii (1.0%) | |||||||||
| HI State G.O. Bonds, 5s, 8/1/19 | Aa2 | 100,000 | 116,502 | ||||||
| 116,502 | |||||||||
| Illinois (5.5%) | |||||||||
| Chicago, G.O. Bonds, Ser. A, 5s, 1/1/21 | A+ | 50,000 | 55,334 | ||||||
| Chicago, O'Hare Intl. Arpt. Rev. Bonds | |||||||||
| Ser. C, 5s, 1/1/17 | A2 | 100,000 | 107,631 | ||||||
| Ser. D, AGM, 4s, 1/1/18 | AA | 75,000 | 80,815 | ||||||
| Chicago, Waste Wtr. Transmission Rev. Bonds, NATL, 5 1/2s, 1/1/17 | AA- | 50,000 | 54,153 | ||||||
| Chicago, Wtr. Reclamation Dist. G.O. Bonds, Ser. C, 5s, 12/1/15 | AAA | 105,000 | 108,757 | ||||||
| Cook Cnty., G.O. Bonds (Arlington Heights Twp. Dist. No. 21), NATL, 4s, 12/1/15 | Aa1 | 25,000 | 25,687 | ||||||
| IL State G.O. Bonds, 5s, 7/1/17 | A3 | 50,000 | 54,283 | ||||||
| IL State Rev. Bonds | |||||||||
| NATL, FGIC, 5 1/2s, 6/15/16 | AAA | 40,000 | 42,624 | ||||||
| Ser. B, 5s, 6/15/15 | AAA | 25,000 | 25,342 | ||||||
| IL State Toll Hwy. Auth. Rev. Bonds, Ser. D, 5s, 1/1/19 | Aa3 | 100,000 | 113,962 | ||||||
| 668,588 | |||||||||
| Louisiana (1.3%) | |||||||||
| LA State Hwy. Impt. Rev. Bonds, Ser. A, 5s, 6/15/16 | Aa3 | 100,000 | 106,002 | ||||||
| Tobacco Settlement Fin. Corp. Rev. Bonds, Ser. A, 5s, 5/15/16 | A | 50,000 | 52,806 | ||||||
| 158,808 | |||||||||
| Maryland (3.8%) | |||||||||
| Baltimore Cnty., G.O. Bonds, Ser. B, 5s, 8/1/18 | Aaa | 100,000 | 113,622 | ||||||
| MD State G.O. Bonds | |||||||||
| 5 1/2s, 3/1/15 | Aaa | 25,000 | 25,000 | ||||||
| Ser. A, 5 1/4s, 3/1/16 | Aaa | 30,000 | 31,513 | ||||||
| Ser. C, 4s, 8/15/18 | Aaa | 125,000 | 138,034 | ||||||
| Montgomery Cnty., COP (Public Trans. Equip.), 4s, 5/1/15 | Aa1 | 50,000 | 50,314 | ||||||
| Prince George's Cnty., G.O. Bonds, Ser. A, 4s, 9/15/18 | Aaa | 100,000 | 110,381 | ||||||
| 468,864 | |||||||||
| Massachusetts (5.9%) | |||||||||
| MA State G.O. Bonds | |||||||||
| Ser. C, AGM, 4s, 8/1/16 | Aa1 | 25,000 | 26,299 | ||||||
| Ser. D, 4s, 8/1/16 | Aa1 | 30,000 | 31,559 | ||||||
| MA State Clean Energy Cooperative Corp. Rev. Bonds (Muni. Ltg. Plant Coop.), 4s, 7/1/17 | A1 | 50,000 | 53,750 | ||||||
| MA State Clean Wtr. Trust Rev. Bonds (Revolving Fund-Green Bond), 5s, 2/1/17 | Aaa | 100,000 | 108,656 | ||||||
| MA State Dev. Fin. Agcy. Rev. Bonds (Loomis Cmntys.), Ser. A, 3s, 1/1/17 | BBB- | 75,000 | 76,040 | ||||||
| MA State Hlth. & Edl. Fac. Auth. Mandatory Put Bonds | |||||||||
| (12/1/17) (Amherst College), Ser. H, 0.8s, 11/1/33 | Aaa | 100,000 | 99,892 | ||||||
| (4/1/16) (U. of MA), Ser. A, 0.7s, 11/1/30 | Aa2 | 50,000 | 50,000 | ||||||
| MA State Hlth. & Edl. Fac. Auth. Rev. Bonds | |||||||||
| (Winchester Hosp.), 5s, 7/1/16 | A- | 25,000 | 26,323 | ||||||
| (Northeastern U.), Ser. R, 4 1/2s, 10/1/15 | A2 | 25,000 | 25,601 | ||||||
| MA State Hsg. Fin. Agcy. Rev. Bonds, Ser. SF-169, 4s, 12/1/44 | Aa2 | 200,000 | 217,880 | ||||||
| 716,000 | |||||||||
| Michigan (3.4%) | |||||||||
| MI State Rev. Bonds, AGM, 4 1/2s, 9/15/15 | AA | 100,000 | 102,219 | ||||||
| MI State Fin. Auth. Rev. Bonds (Detroit Wtr. & Swr.), Ser. C-8, 5s, 7/1/16 | BBB+ | 50,000 | 52,381 | ||||||
| MI State Hosp. Fin. Auth. Rev. Bonds | |||||||||
| (Henry Ford Hlth. Syst.), Ser. A, 5s, 11/15/16 | A3 | 20,000 | 21,346 | ||||||
| (Sparrow Hosp.), 5s, 11/15/16 | A1 | 25,000 | 26,886 | ||||||
| MI State Strategic Fund Ltd. Rev. Bonds (United Methodist Retirement Cmntys., Inc.), 2 3/4s, 11/15/17 | BBB+/F | 75,000 | 76,172 | ||||||
| MI State Trunk Line Fund Rev. Bonds, Ser. A, NATL, 5 1/4s, 11/1/15 | AA+ | 25,000 | 25,840 | ||||||
| Monroe Cnty., Hosp. Fin. Auth. Rev. Bonds (Mercy Memorial Hosp. Corp.), 5 1/2s, 6/1/15 | Baa2 | 30,000 | 30,346 | ||||||
| Wayne Cnty., Arpt. Auth. Rev. Bonds (Detroit Metro. Arpt.), 5s, 12/1/15 | AA | 25,000 | 25,834 | ||||||
| Zeeland, Pub. Schools G.O. Bonds, AGM, Q-SBLF, 5s, 5/1/15 | AA | 50,000 | 50,387 | ||||||
| 411,411 | |||||||||
| Minnesota (3.7%) | |||||||||
| Minneapolis, G.O. Bonds, Ser. A, zero %, 12/1/15 | AAA | 10,000 | 9,975 | ||||||
| MN State G.O. Bonds (Hwy. & Var. Purpose), 5s, 8/1/16 | Aa1 | 25,000 | 26,643 | ||||||
| MN State Muni. Pwr. Agcy. Elec. Rev. Bonds | |||||||||
| 5s, 10/1/16 | A2 | 100,000 | 106,887 | ||||||
| 5s, 10/1/15 | A2 | 55,000 | 56,461 | ||||||
| MN State Res. Hsg. Fin. Agcy. Rev. Bonds, Ser. A, 4s, 7/1/38 | Aa1 | 100,000 | 108,982 | ||||||
| Southern MN Muni. Pwr. Agcy. Syst. Rev. Bonds, Ser. A, AMBAC, 5 1/4s, 1/1/17 | A1 | 35,000 | 37,969 | ||||||
| St. Paul, Hsg. & Redev. Auth. Hlth. Care Fac. Rev. Bonds (Regions Hosp.), 5 1/4s, 5/15/17 | A2 | 25,000 | 26,916 | ||||||
| U. of MN Rev. Bonds (State Supported Stadium Debt), 5s, 8/1/15 | Aa1 | 50,000 | 50,998 | ||||||
| Western MN Muni. Pwr. Agcy. Rev. Bonds, Ser. A, AGM, 5s, 1/1/16 | Aa3 | 25,000 | 25,991 | ||||||
| 450,822 | |||||||||
| Mississippi (1.2%) | |||||||||
| MS State Bus. Fin. Corp. Solid Waste Disp. Mandatory Put Bonds (3/1/17) (Waste Mgt., Inc.), 1 3/8s, 3/1/27 | A- | 150,000 | 151,463 | ||||||
| 151,463 | |||||||||
| Montana (0.8%) | |||||||||
| MT State Board of Hsg. Rev. Bonds, Ser. A-2, FHA Insd., 3s, 12/1/43 | Aa1 | 95,000 | 99,365 | ||||||
| 99,365 | |||||||||
| Nevada (0.9%) | |||||||||
| Las Vegas, Special Assmt. Bonds (Dist. No. 607 Local Impt.), 3s, 6/1/16 | BB/P | 25,000 | 25,373 | ||||||
| NV State Hwy. Rev. Bonds (Motor Vehicle Fuel Tax), 5s, 12/1/15 | AAA | 85,000 | 88,055 | ||||||
| 113,428 | |||||||||
| New Hampshire (0.7%) | |||||||||
| NH Hlth. & Ed. Fac. Auth. Rev. Bonds (Concord Hosp. Oblig. Group), Ser. A, 3s, 10/1/15 | A2 | 85,000 | 86,312 | ||||||
| 86,312 | |||||||||
| New Jersey (4.2%) | |||||||||
| Burlington Cnty., Bridge Comm. Econ. Dev. Rev. Bonds, 3s, 10/1/15 | Aa2 | 100,000 | 101,649 | ||||||
| NJ State G.O. Bonds, 5s, 6/1/15 | A1 | 25,000 | 25,287 | ||||||
| NJ State Econ. Dev. Auth. Rev. Bonds (School Fac. Construction) | |||||||||
| Ser. KK, 5s, 3/1/16 | A2 | 20,000 | 20,842 | ||||||
| Ser. W, 5s, 3/1/16 (Escrowed to maturity) | AA+ | 25,000 | 26,191 | ||||||
| NJ State Edl. Fac. Auth. Rev. Bonds | |||||||||
| (Ramapo College of NJ), Ser. I, AMBAC, 5s, 7/1/16 | A2 | 50,000 | 52,844 | ||||||
| (The College of NJ), Ser. A, 5s, 7/1/16 | A2 | 50,000 | 52,844 | ||||||
| NJ State Hlth. Care Fac. Fin. Auth. Rev. Bonds | |||||||||
| (St. Joseph Hlth. Care Syst.), 5 3/4s, 7/1/15 | Baa3 | 10,000 | 10,106 | ||||||
| (South Jersey Hosp., Inc.), 5s, 7/1/16 | A2 | 20,000 | 21,047 | ||||||
| (St. Barnabas Hlth.), Ser. A, 3 1/4s, 7/1/16 | A3 | 25,000 | 25,792 | ||||||
| NJ State Tpk. Auth. Rev. Bonds, NATL, 6 1/2s, 1/1/16 | AA- | 90,000 | 94,524 | ||||||
| Ocean Cnty., G.O. Bonds, 4s, 8/1/16 | Aaa | 75,000 | 78,908 | ||||||
| 510,034 | |||||||||
| New Mexico (0.6%) | |||||||||
| NM State U. Rev. Bonds, Ser. A, 4s, 4/1/15 | AA | 25,000 | 25,076 | ||||||
| Santa Fe, Waste Wtr. Syst. Rev. Bonds, Ser. B, 2s, 6/1/15 | AA | 50,000 | 50,228 | ||||||
| 75,304 | |||||||||
| New York (9.5%) | |||||||||
| Metro. Trans. Auth. Rev. Bonds, Ser. F, 5s, 11/15/15 | AA- | 75,000 | 77,528 | ||||||
| Nassau Cnty., Local Econ. Assistance Corp. Rev. Bonds (South Nassau Cmntys. Hosp.), 4s, 7/1/16 | A3 | 25,000 | 25,931 | ||||||
| NY City, G.O. Bonds, Ser. E, AMBAC, 4s, 8/1/15 | AA | 25,000 | 25,399 | ||||||
| NY City, Transitional Fin. Auth. Bldg. Aid Rev. Bonds (Fiscal 2009), Ser. S-2, 5s, 7/15/15 | Aa2 | 75,000 | 76,331 | ||||||
| NY State Dorm. Auth. Rev. Bonds | |||||||||
| (State U. Edl. Fac.), Ser. A, AMBAC, 5 1/4s, 5/15/15 | Aa2 | 100,000 | 101,020 | ||||||
| (NY U. Hosp. Ctr.), Ser. A, 5s, 7/1/17 | A3 | 85,000 | 93,165 | ||||||
| NY State Dorm. Auth. Non-State Supported Debt Rev. Bonds (The New School), 4s, 7/1/16 | A3 | 50,000 | 52,281 | ||||||
| NY State Dorm. Auth. Personal Income Tax Rev. Bonds, Ser. E, 5s, 2/15/19 | AAA | 100,000 | 115,066 | ||||||
| NY State Thruway Auth. Rev. Bonds | |||||||||
| Ser. A-1, 4 1/2s, 4/1/15 | AA | 15,000 | 15,053 | ||||||
| Ser. A-2, 4s, 4/1/16 | AA | 50,000 | 52,017 | ||||||
| NY State Thruway Auth. Local Hwy. & Bridge Rev. Bonds | |||||||||
| 5s, 4/1/16 | AA | 50,000 | 52,554 | ||||||
| Ser. A, 5s, 4/1/16 | AA | 100,000 | 105,107 | ||||||
| NY State Urban Dev. Corp. Rev. Bonds (State Personal Income Tax), Ser. A, 5s, 3/15/16 | AAA | 100,000 | 104,907 | ||||||
| Port Auth. of NY & NJ Rev. Bonds, Ser. 178, 5s, 12/1/16 | Aa3 | 100,000 | 107,702 | ||||||
| Rockland Cnty., G.O. Bonds, Ser. A, AGM, 5s, 3/1/17 | AA | 100,000 | 107,498 | ||||||
| Westchester Cnty., Indl Dev. Agcy. Civic Fac. Rev. Bonds (Kendal on Hudson), 3s, 1/1/17 | BBB/F | 50,000 | 51,574 | ||||||
| 1,163,133 | |||||||||
| North Carolina (1.3%) | |||||||||
| Guilford Cnty., G.O. Bonds, Ser. C, 5s, 10/1/18 | Aaa | 100,000 | 114,050 | ||||||
| NC Med. Care Comm. Retirement Fac. Rev. Bonds (The Forest at Duke, Inc.), 4.6s, 9/1/16 | BBB+/F | 20,000 | 20,567 | ||||||
| NC State Muni. Pwr. Agcy. No. 1 Catawba Elec. Rev. Bonds, Ser. A, 5 1/4s, 1/1/17 | A2 | 25,000 | 27,126 | ||||||
| 161,743 | |||||||||
| Ohio (3.0%) | |||||||||
| Cuyahoga Cnty., G.O. Bonds, 5s, 12/1/15 | Aa1 | 50,000 | 51,801 | ||||||
| Lorain Cnty., Port Auth. Econ. Dev. Facs. Rev. Bonds (Kendal at Oberlin), 3s, 11/15/16 | A- | 50,000 | 51,006 | ||||||
| OH State G.O. Bonds | |||||||||
| (Higher Ed.), Ser. C, 5s, 8/1/16 | Aa1 | 25,000 | 26,632 | ||||||
| (Buckeye Savers), Ser. K, 5s, 5/1/15 | AAA | 100,000 | 100,806 | ||||||
| OH State Bldg. Auth. Rev. Bonds, Ser. A, AGM, 5s, 4/1/16 | Aa2 | 20,000 | 21,015 | ||||||
| OH State Wtr. Dev. Auth. Poll. Control Rev. Bonds, Ser. B, 5s, 6/1/18 | Aaa | 100,000 | 113,378 | ||||||
| 364,638 | |||||||||
| Oklahoma (0.7%) | |||||||||
| Tulsa, Arpts. Impt. Trust Rev. Bonds, Ser. A, 5s, 6/1/17 | AA | 75,000 | 81,581 | ||||||
| 81,581 | |||||||||
| Oregon (1.7%) | |||||||||
| OR State G.O. Bonds | |||||||||
| Ser. N, 4s, 12/1/16 | Aa1 | 45,000 | 47,817 | ||||||
| (Higher Ed.), Ser. B, 3 1/2s, 8/1/15 | Aa1 | 25,000 | 25,346 | ||||||
| OR State Rev. Bonds, Ser. A, 4s, 4/1/15 (Escrowed to maturity) | AAA | 100,000 | 100,292 | ||||||
| Portland, Swr. Syst. Rev. Bonds, Ser. A, NATL | |||||||||
| 5s, 6/15/16 | Aa2 | 15,000 | 15,906 | ||||||
| 5s, 6/15/15 | Aa2 | 15,000 | 15,206 | ||||||
| 204,567 | |||||||||
| Pennsylvania (6.6%) | |||||||||
| Chester Cnty., G.O. Bonds, 4s, 7/15/18 | Aaa | 100,000 | 110,213 | ||||||
| East Hempfield Twp., Indl. Dev. Auth. Rev. Bonds (Student Svcs., Inc.-Millersville U.), 2 1/4s, 7/1/17 | Baa3 | 40,000 | 40,036 | ||||||
| Erie, Higher Ed. Bldg. Auth. Rev. Bonds (Gannon U.), 3s, 5/1/17 | Baa2 | 35,000 | 36,080 | ||||||
| Lancaster Cnty., Hosp. Auth. Hlth. Facs. Rev. Bonds (Lancaster Gen. Hosp.), 3s, 7/1/16 | Aa3 | 35,000 | 36,216 | ||||||
| Lancaster, Higher Ed. Auth. College Rev. Bonds (Franklin & Marshall College), 5s, 4/15/15 | AA- | 25,000 | 25,135 | ||||||
| Lancaster, Indl. Dev. Auth. Rev. Bonds (Garden Spot Village Obligated Group), 5s, 5/1/16 | BBB | 75,000 | 77,816 | ||||||
| PA G.O. Bonds, 5s, 3/1/16 | Aa3 | 25,000 | 26,191 | ||||||
| PA Hsg. Fin. Agcy. Rev. Bonds, Ser. 115A, 1.6s, 10/1/17 | AA+ | 100,000 | 100,504 | ||||||
| PA State G.O. Bonds | |||||||||
| Ser. 2, 5s, 4/15/15 | Aa3 | 15,000 | 15,084 | ||||||
| Ser. 1, 5s, 3/15/15 | Aa3 | 45,000 | 45,079 | ||||||
| PA State Econ. Dev. Fin. Auth. Solid Waste Disp. Mandatory Put Bonds (4/1/15) (Republic Services, Inc.), Ser. A, 0.37s, 4/1/19 | BBB+ | 100,000 | 100,000 | ||||||
| PA State Higher Edl. Fac. Auth. Rev. Bonds (Temple U.), NATL, 5s, 4/1/16 | Aa3 | 50,000 | 52,370 | ||||||
| PA State Tpk. Comm. Oil Franchise Tax Rev. Bonds, Ser. A, AMBAC | |||||||||
| 5s, 12/1/16 | AA | 25,000 | 26,957 | ||||||
| 5s, 12/1/15 | AA | 40,000 | 41,431 | ||||||
| Philadelphia, Wtr. & Waste Wtr. Rev. Bonds, Ser. A, AGM, 5s, 6/15/16 | AA | 20,000 | 21,161 | ||||||
| Pittsburgh, G.O. Bonds, Ser. B, AGM, 5 1/4s, 9/1/16 | AA | 50,000 | 53,525 | ||||||
| 807,798 | |||||||||
| Tennessee (0.8%) | |||||||||
| Franklin Cnty., Hlth. & Edl. Fac. Board Rev. Bonds (U. of the South), AMBAC, 4 1/2s, 9/1/30 (Prerefunded 9/1/15) | A+ | 50,000 | 51,064 | ||||||
| Kingsport, G.O. Bonds, Ser. C, AGO, 3s, 3/1/16 | Aa2 | 50,000 | 51,392 | ||||||
| 102,456 | |||||||||
| Texas (9.9%) | |||||||||
| Austin, Wtr. & Waste Wtr. Rev. Bonds, Ser. A, 4s, 11/15/16 | Aa2 | 100,000 | 106,065 | ||||||
| Central TX Regl. Mobility Auth. Rev. Bonds, 5 3/4s, 1/1/17 | Baa2 | 75,000 | 81,411 | ||||||
| Clifton, Higher Ed. Fin. Corp. Rev. Bonds (Idea Pub. Schools), 5s, 8/15/15 | BBB | 75,000 | 76,212 | ||||||
| Fort Worth G.O. Bonds, 4s, 3/1/15 | Aa1 | 50,000 | 50,000 | ||||||
| Galena Park, G.O. Bonds (School Bldg.), PSFG, 5 1/2s, 8/15/16 | Aaa | 25,000 | 26,849 | ||||||
| Hidalgo Cnty., G.O. Bonds, Ser. A, AGO, 3s, 8/15/15 | Aa2 | 50,000 | 50,644 | ||||||
| Houston, Arpt. Syst. Rev. Bonds, Ser. A, 5s, 7/1/15 | A | 30,000 | 30,469 | ||||||
| Montgomery Cnty., G.O. Bonds, AGM, 5s, 3/1/15 | Aa1 | 100,000 | 100,000 | ||||||
| Northside, Indpt. School Dist. G.O. Bonds, Ser. A, PSFG, 4s, 2/15/18 | Aaa | 100,000 | 108,996 | ||||||
| San Antonio, G.O. Bonds, 4s, 2/1/16 | Aaa | 100,000 | 103,484 | ||||||
| San Antonio, Rev. Bonds, NATL, FGIC, 5 1/2s, 5/15/15 | Aa1 | 25,000 | 25,268 | ||||||
| Spring Branch, Indpt. School Dist. G.O. Bonds, Ser. A, PSFG, 5s, 2/1/17 | Aaa | 100,000 | 108,456 | ||||||
| TX State G.O. Bonds (Trans. Comm.), Ser. A, 5s, 10/1/17 | Aaa | 100,000 | 111,144 | ||||||
| TX State Rev. Bonds (A&M U.), Ser. B, 5s, 5/15/15 (Escrowed to maturity) | Aaa | 25,000 | 25,244 | ||||||
| U. of Texas Rev. Bonds, Ser. B, 3s, 8/15/17 | Aaa | 100,000 | 105,897 | ||||||
| Waco, Hlth. Facs. Dev. Corp. Rev. Bonds (Hillcrest Health Syst., Inc.), Ser. A, NATL, FHA Insd., 4 1/2s, 8/1/35 (Prerefunded 8/1/16) | AA- | 85,000 | 90,013 | ||||||
| 1,200,152 | |||||||||
| Utah (0.1%) | |||||||||
| UT State G.O. Bonds, Ser. B, 4s, 7/1/15 | Aaa | 15,000 | 15,190 | ||||||
| 15,190 | |||||||||
| Washington (2.4%) | |||||||||
| King Cnty., G.O. Bonds, Ser. D, 5s, 1/1/16 | AAA | 50,000 | 51,999 | ||||||
| King Cnty., Wtr & Swr. Rev. Bonds, 5s, 1/1/17 | AA+ | 35,000 | 37,898 | ||||||
| Tobacco Settlement Auth. of WA Rev. Bonds, 5s, 6/1/15 | A | 100,000 | 101,099 | ||||||
| Vancouver, Downtown. Redev. Auth. Rev. Bonds (Conference Ctr.), Ser. A, 3s, 1/1/16 | AA | 90,000 | 91,706 | ||||||
| WA State G.O. Bonds (Motor Vehicle Fuel Tax), Ser. C, 4s, 6/1/15 | Aa1 | 15,000 | 15,141 | ||||||
| 297,843 | |||||||||
| West Virginia (0.4%) | |||||||||
| WV State Econ. Dev. Auth. Poll Control Rev. Bonds (Appalachian Pwr. Co. - Amos), Ser. C, 3 1/4s, 5/1/19 | Baa1 | 50,000 | 52,817 | ||||||
| 52,817 | |||||||||
| Wisconsin (1.9%) | |||||||||
| Madison Cnty., G.O. Bonds (Madison Area Tech. College), Ser. B, 2s, 3/1/16 | Aaa | 45,000 | 45,815 | ||||||
| Nekoosa, Poll. Control Rev. Bonds (Nekoosa Papers, Inc.), Ser. A, 5.35s, 7/1/15 | Baa1 | 30,000 | 30,443 | ||||||
| WI State G.O. Bonds, Ser. 1, AMBAC, 5s, 5/1/16 | Aa2 | 50,000 | 52,721 | ||||||
| WI State Hlth. & Edl. Facs. Auth. Rev. Bonds (Three Pillars Sr. Living), 3s, 8/15/16 | A-/F | 75,000 | 76,898 | ||||||
| WI State, Clean Wtr. Rev. Bonds, Ser. 1, 3s, 6/1/15 | Aa1 | 25,000 | 25,161 | ||||||
| 231,038 | |||||||||
| TOTAL INVESTMENTS | |||||||||
| Total investments (cost $11,598,578) | $11,673,744 | ||||||||
| 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 December 1, 2014 through February 28, 2015 (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 $12,182,358. | |||||
| (RAT) | The Moody's, Standard & Poor's or Fitch ratings indicated are believed to be the most recent ratings available at the close of the reporting period for the securities listed. Ratings are generally ascribed to securities at the time of issuance. While the agencies may from time to time revise such ratings, they undertake no obligation to do so, and the ratings do not necessarily represent what the agencies would ascribe to these securities at the close of the reporting period. Securities rated by Putnam are indicated by “/P.” Securities rated by Fitch are indicated by “/F.” If a security is insured, it will usually be rated by the ratings organizations based on the financial strength of the insurer. For further details regarding security ratings, please see the Statement of Additional Information. | |||||
| (b) | The aggregate identified cost on a tax basis is $11,598,578, resulting in gross unrealized appreciation and depreciation of $77,700 and $2,534, respectively, or net unrealized appreciation of $75,166. | |||||
| On Mandatory Put Bonds, the rates shown are the current interest rates at the close of the reporting period and the dates shown represent the next mandatory put dates. | ||||||
| The dates shown parenthetically on prerefunded bonds represent the next prerefunding dates. | ||||||
| The dates shown on debt obligations are the original maturity dates. | ||||||
| The fund had the following sector concentrations greater than 10% at the close of the reporting period (as a percentage of net assets): | ||||||
| Local debt | 16.3% | |||||
| State debt | 15.6 | |||||
| Utilities | 13.2 | |||||
Security valuation: Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund’s assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | ||||||
| Tax-exempt bonds and notes are generally valued on the basis of valuations provided by an independent pricing service approved by the Trustees. Such services use information with respect to transactions in bonds, quotations from bond dealers, market transactions in comparable securities and various relationships between securities in determining value. These securities will generally be categorized as Level 2. | ||||||
| Certain investments, including certain restricted and illiquid securities and derivatives are also valued at fair value following procedures approved by the Trustees. To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically 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, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. 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 | |
| Municipal bonds and notes | $— | $11,673,744 | $— | |
|
|
|
|
||
| Totals by level | $— | $11,673,744 | $— | |
| During the reporting period, transfers within the fair value hierarchy, if any, did not represent, in the aggregate, more than 1% of the fund's net assets measured as of the end of the period. | ||||
| For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | ||||
| Item 2. Controls and Procedures: |
| (a) The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms. |
| (b) Changes in internal control over financial reporting: Not applicable |
| Item 3. Exhibits: |
| Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith. |
| SIGNATURES |
| Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
| Putnam Funds Trust |
| By (Signature and Title): |
| /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer Date: April 28, 2015 |
| Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. |
| By (Signature and Title): |
| /s/ Jonathan S. Horwitz Jonathan S. Horwitz Principal Executive Officer Date: April 28, 2015 |
| By (Signature and Title): |
| /s/ Steven D. Krichmar Steven D. Krichmar Principal Financial Officer Date: April 28, 2015 |
| Certifications | |
| I, Jonathan S. Horwitz, the Principal Executive Officer of the funds listed on Attachment A, certify that: | |
1. I have reviewed each report on Form N-Q of the funds listed on Attachment A: | |
2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report; | |
3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; | |
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have: | |
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared; | |
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |
c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and | |
d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and | |
5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions): | |
a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and | |
b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting. | |
/s/ Jonathan S. Horwitz | |
| _____________________________ | |
Date: April 28, 2015 | |
| Jonathan S. Horwitz | |
| Principal Executive Officer | |
Certifications | |
| I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that: | |
1. I have reviewed each report on Form N-Q of the funds listed on Attachment A: | |
2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report; | |
3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; | |
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have: | |
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared; | |
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |
c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and | |
d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and | |
5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions): | |
a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and | |
b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting. | |
/s/ Steven D. Krichmar | |
| _______________________________ | |
Date: April 28, 2015 | |
| Steven D. Krichmar | |
| Principal Financial Officer | |
Attachment A | |
NQ | |
Period (s) ended February 28, 2015 | |
| Putnam Arizona Tax Exempt Income Fund | |
| Putnam Minnesota Tax Exempt Income Fund | |
| Putnam Massachusetts Tax Exempt Income Fund | |
| Putnam New York Tax Exempt Income Fund | |
| Putnam High Yield Advantage Fund | |
| Putnam Equity Income Fund | |
| Putnam Pennsylvania Tax Exempt Income Fund | |
| Putnam Ohio Tax Exempt Income Fund | |
| Putnam New Jersey Tax Exempt Income Fund | |
| Putnam Michigan Tax Exempt Income Fund | |
| Putnam Dynamic Asset Allocation Equity Fund | |
| Putnam Dynamic Risk Allocation Fund | |
| Putnam Short Term Municipal Income Fund | |
| Putnam Intermediate Term Municipal Income Fund | |
| Putnam Emerging Markets Income Fund | |
| Putnam Global Dividend Fund |