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: July 31, 2017

Date of reporting period: April 30, 2017

Item 1. Schedule of Investments:

Putnam Short Duration Income Fund
The fund's portfolio
4/30/17 (Unaudited)
CORPORATE BONDS AND NOTES (46.2%)(a)
	Interest rate (%)	Maturity date	Principal amount	Value
Banking (26.0%)
ABN Amro Bank NV 144A sr. unsec. FRN (Netherlands)	1.798	1/18/19	$53,350,000	$53,548,889
Australia & New Zealand Banking Group, Ltd. 144A sr. unsec. FRN (Australia)	1.816	9/23/19	28,940,000	29,113,987
Australia & New Zealand Banking Group, Ltd. 144A sr. unsec. unsub. FRN (Australia)	1.787	11/16/18	11,770,000	11,865,255
Australia & New Zealand Banking Group, Ltd. 144A sr. unsec. unsub. FRN (Australia)	1.598	1/16/18	11,500,000	11,524,748
Australia & New Zealand Banking Group, Ltd./New York, NY sr. unsec. unsub. FRN	1.599	5/15/18	9,000,000	9,037,287
Bank of America Corp. sr. unsec. notes Ser. GMTN	6.400	8/28/17	4,500,000	4,571,312
Bank of America Corp. sr. unsec. unsub. FRN	2.198	1/15/19	20,184,000	20,406,468
Bank of America Corp. sr. unsec. unsub. FRN Ser. MTN	2.018	4/1/19	14,151,000	14,280,793
Bank of America Corp. unsec. sub. FRN	1.585	5/2/17	15,837,000	15,837,792
Bank of Montreal sr. unsec. unsub. FRN (Canada)	1.515	4/10/18	3,000,000	3,001,188
Bank of Montreal sr. unsec. unsub. FRN Ser. MTN (Canada)	1.808	7/18/19	5,000,000	5,027,545
Bank of Montreal sr. unsec. unsub. FRN Ser. MTN (Canada)	1.720	12/12/19	7,000,000	7,044,177
Bank of New York Mellon Corp. (The) sr. unsec. FRN Ser. MTN	1.594	8/1/18	645,000	648,915
Bank of New York Mellon Corp. (The) sr. unsec. unsub. FRN	1.430	5/22/18	7,715,000	7,737,165
Bank of New York Mellon Corp. (The) sr. unsec. unsub. FRN Ser. 1	1.540	3/6/18	4,062,000	4,074,832
Bank of Nova Scotia (The) sr. unsec. unsub. FRN (Canada)	1.988	1/15/19	5,000,000	5,043,625
Bank of Nova Scotia (The) sr. unsec. unsub. FRN (Canada)	1.781	6/14/19	10,000,000	10,079,460
Bank of Nova Scotia (The) sr. unsec. unsub. FRN (Canada)	1.720	12/5/19	10,000,000	10,063,570
Bank of Nova Scotia (The) sr. unsec. unsub. FRN (Canada)	1.590	6/11/18	11,790,000	11,828,612
Bank of Tokyo-Mitsubishi UFJ, Ltd. (The) 144A sr. unsec. unsub. FRN (Japan)	1.650	3/5/18	5,000,000	5,006,400
Bank of Tokyo-Mitsubishi UFJ, Ltd. (The) 144A sr. unsec. unsub. FRN (Japan)	1.416	9/8/17	5,000,000	4,999,650
Barclays Bank PLC 144A unsec. sub. notes (United Kingdom)	6.050	12/4/17	13,500,000	13,803,426
Barclays PLC sr. unsec. unsub. notes (United Kingdom)	2.000	3/16/18	19,900,000	19,909,751
BB&T Corp. sr. unsec. unsub. FRN Ser. MTN	1.873	1/15/20	2,882,000	2,901,177
BB&T Corp. sr. unsec. unsub. FRN Ser. MTN	1.701	6/15/20	13,000,000	13,059,696
BB&T Corp. sr. unsec. unsub. FRN Ser. MTN	1.694	2/1/19	10,813,000	10,887,112
BNP Paribas SA company guaranty sr. unsec. unsub. FRN Ser. MTN (France)	1.494	5/7/17	2,403,000	2,403,144
BPCE SA company guaranty sr. unsec. unsub. FRB Ser. MTN (France)	1.766	6/23/17	13,000,000	13,010,348
Branch Banking & Trust Co. sr. unsec. FRN	1.608	1/15/20	10,000,000	10,019,710
Branch Banking & Trust Co. sr. unsec. unsub. FRN Ser. MTN	1.564	5/1/19	16,250,000	16,311,246
Branch Banking & Trust Co. unsec. sub. FRN Ser. BKNT	1.353	5/23/17	11,000,000	11,000,429
Capital One NA/Mclean VA sr. unsec. FRN	2.192	8/17/18	8,525,000	8,603,447
Capital One NA/Mclean VA sr. unsec. FRN	1.885	9/13/19	18,600,000	18,679,422
Capital One, NA sr. unsec. FRN Ser. BKNT	1.714	2/5/18	13,850,000	13,885,968
Citigroup, Inc. sr. unsec. FRN	2.032	6/7/19	22,707,000	22,856,548
Citigroup, Inc. sr. unsec. FRN	1.945	1/10/20	15,000,000	15,066,180
Citigroup, Inc. sr. unsec. FRN	1.860	4/27/18	12,238,000	12,285,802
Citigroup, Inc. sr. unsec. unsub. FRN	2.052	7/30/18	8,025,000	8,078,021
Citigroup, Inc. sr. unsec. unsub. notes	1.550	8/14/17	5,260,000	5,262,246
Citizens Bank NA/Providence RI sr. unsec. FRN	1.604	3/2/20	14,750,000	14,770,281
Citizens Bank NA/Providence RI sr. unsec. notes Ser. MTN	1.600	12/4/17	3,800,000	3,795,444
Commonwealth Bank of Australia 144A sr. unsec. FRN (Australia)	1.674	11/7/19	13,527,000	13,617,874
Commonwealth Bank of Australia 144A sr. unsec. FRN (Australia)	1.559	3/10/20	14,900,000	14,914,379
Commonwealth Bank of Australia 144A sr. unsec. FRN (Australia)	1.376	9/8/17	8,007,000	8,011,468
Commonwealth Bank of Australia 144A sr. unsec. unsub. FRN (Australia)	2.191	3/15/19	6,550,000	6,637,646
Commonwealth Bank of Australia 144A sr. unsec. unsub. FRN (Australia)	1.520	3/12/18	10,000,000	10,012,240
Credit Agricole SA/London 144A sr. unsec. FRN (United Kingdom)	1.958	4/15/19	5,940,000	5,977,380
Credit Agricole SA/London 144A sr. unsec. notes (United Kingdom)	3.000	10/1/17	6,000,000	6,031,890
Credit Suisse AG/New York NY unsec. sub. notes	6.000	2/15/18	3,600,000	3,713,864
Credit Suisse AG/New York, NY sr. unsec. FRN	1.862	1/29/18	19,307,000	19,367,566
Credit Suisse AG/New York, NY sr. unsec. FRN	1.850	4/27/18	10,600,000	10,633,167
Credit Suisse AG/New York, NY sr. unsec. notes Ser. GMTN	1.375	5/26/17	3,000,000	3,000,600
Danske Bank A/S 144A sr. unsec. FRN (Denmark)	1.680	9/6/19	26,853,000	26,949,725
Danske Bank A/S 144A sr. unsec. FRN (Denmark)	1.574	3/2/20	20,000,000	20,007,420
Deutsche Bank AG/London sr. unsec. unsub. notes (United Kingdom)	1.350	5/30/17	5,585,000	5,584,704
Fifth Third Bank/Cincinnati, OH sr. unsec. FRN	1.743	9/27/19	10,565,000	10,567,451
Firth Third Bank/Cincinnati, OH sr. unsec. FRN Ser. MTN	1.967	8/20/18	12,500,000	12,570,188
HBOS PLC unsec. sub. FRN Ser. EMTN (United Kingdom)	1.800	9/6/17	8,830,000	8,801,921
HBOS PLC 144A unsec. sub. notes Ser. GMTN (United Kingdom)	6.750	5/21/18	2,935,000	3,069,068
HSBC USA, Inc. sr. unsec. unsub. FRN	2.037	9/24/18	16,190,000	16,281,376
HSBC USA, Inc. sr. unsec. unsub. FRN	1.804	8/7/18	13,250,000	13,317,549
HSBC USA, Inc. sr. unsec. unsub. FRN	1.644	11/13/19	7,000,000	7,028,462
Huntington National Bank (The) sr. unsec. FRN	1.619	3/10/20	10,000,000	10,004,750
ING Bank NV 144A sr. unsec. FRN (Netherlands)	2.286	3/22/19	3,530,000	3,576,151
ING Bank NV 144A sr. unsec. FRN (Netherlands)	2.012	8/17/20	2,650,000	2,676,675
ING Bank NV 144A sr. unsec. FRN (Netherlands)	1.822	8/17/18	7,000,000	7,035,028
ING Bank NV 144A sr. unsec. unsub. FRN (Netherlands)	1.838	10/1/19	14,455,000	14,505,650
ING Bank NV 144A unsec. FRN (Netherlands)	1.687	3/16/18	20,050,000	20,095,052
JPMorgan Chase & Co. sr. unsec. FRN Ser. MTN	1.565	3/1/18	5,000,000	5,013,200
JPMorgan Chase & Co. sr. unsec. unsub. FRN	2.377	10/29/20	2,600,000	2,653,378
JPMorgan Chase & Co. sr. unsec. unsub. FRN	2.108	1/23/20	23,528,000	23,870,003
JPMorgan Chase & Co. sr. unsec. unsub. FRN	2.056	1/25/18	10,003,000	10,058,877
JPMorgan Chase & Co. sr. unsec. unsub. FRN	1.706	4/25/18	7,000,000	7,029,064
JPMorgan Chase & Co. sr. unsec. unsub. FRN Ser. 1	1.802	1/28/19	10,665,000	10,722,164
JPMorgan Chase & Co. unsec. sub. notes	6.125	6/27/17	4,257,000	4,286,007
Manufacturers & Traders Trust Co. sr. unsec. FRN Ser. BKNT	1.456	7/25/17	9,850,000	9,853,339
Manufacturers & Traders Trust Co. sr. unsec. notes Ser. BKNT	1.400	7/25/17	14,629,000	14,629,278
Manufacturers & Traders Trust Co. unsec. sub. notes	6.625	12/4/17	5,960,000	6,126,600
Mizuho Bank, Ltd. 144A company guaranty sr. unsec. unsub. FRN (Japan)	1.793	3/26/18	16,000,000	16,026,832
Mizuho Bank, Ltd. 144A company guaranty sr. unsec. unsub. FRN (Japan)	1.603	9/25/17	18,959,000	18,974,565
MUFG Union Bank NA sr. unsec. FRN	1.434	5/5/17	4,000,000	4,000,088
National Australia Bank, Ltd. 144A sr. unsec. FRN (Australia)	1.796	12/9/19	2,600,000	2,618,476
National Australia Bank, Ltd. 144A sr. unsec. FRN (Australia)	1.745	1/10/20	9,750,000	9,797,951
National Australia Bank, Ltd. 144A sr. unsec. unsub. FRN (Australia)	1.938	1/14/19	30,770,000	30,997,329
National Australia Bank, Ltd. 144A sr. unsec. unsub. FRN (Australia)	1.793	7/23/18	10,000,000	10,048,500
National Bank of Canada company guaranty sr. unsec. FRN Ser. MTN (Canada)	1.758	1/17/20	19,750,000	19,831,173
National Bank of Canada sr. unsec. FRN Ser. BKNT (Canada)	1.961	12/14/18	14,770,000	14,840,453
National City Bank/Cleveland, OH unsec. sub. FRN Ser. BKNT	1.472	6/7/17	28,214,000	28,221,195
National City Bank/Cleveland, OH unsec. sub. notes Ser. BKNT	5.800	6/7/17	3,200,000	3,213,616
Nordea Bank AB 144A sr. unsec. unsub. FRN (Sweden)	1.988	9/17/18	15,800,000	15,940,035
Northern Trust Co. (The) unsec. sub. notes Ser. MTN	5.850	11/9/17	10,800,000	11,042,914
PNC Bank NA sr. unsec. FRN	1.502	12/7/18	10,000,000	10,039,480
PNC Bank NA sr. unsec. FRN Ser. MTN	1.475	6/1/18	5,500,000	5,507,816
PNC Financial Services Group, Inc. (The) sr. unsec. unsub. FRN	1.284	8/7/18	10,000,000	9,998,420
Rabobank Nederland NV/NY sr. unsec. FRN Ser. BKNT (Netherlands)	1.689	8/9/19	30,600,000	30,681,335
Royal Bank of Canada sr. unsec. FRN Ser. GMTN (Canada)	1.480	3/2/20	20,000,000	20,018,600
Royal Bank of Canada sr. unsec. unsub. FRN (Canada)	1.809	12/10/18	12,000,000	12,092,208
Royal Bank of Canada sr. unsec. unsub. FRN Ser. GMTN (Canada)	1.712	7/30/18	10,000,000	10,044,040
Royal Bank of Canada sr. unsec. unsub. FRN Ser. GMTN (Canada)	1.652	7/29/19	10,175,000	10,205,026
Santander Holdings USA, Inc. sr. unsec. unsub. FRN	2.504	11/24/17	20,096,000	20,208,598
Santander UK PLC sr. unsec. unsub. FRN (United Kingdom)	1.562	9/29/17	15,025,000	15,028,636
Santander UK PLC sr. unsec. unsub. FRN Ser. GMTN (United Kingdom)	1.904	8/24/18	12,000,000	12,055,632
Skandinaviska Enskilda Banken AB 144A sr. unsec. FRN (Sweden)	1.690	9/13/19	10,950,000	10,984,898
Societe Generale SA company guaranty sr. unsec. unsub. FRN (France)	2.228	10/1/18	14,625,000	14,752,545
Standard Chartered Bank 144A unsec. sub. notes (United Kingdom)	6.400	9/26/17	9,105,000	9,275,637
Standard Chartered PLC 144A sr. unsec. FRN (United Kingdom)	2.182	8/19/19	11,945,000	12,043,116
State Street Corp. jr. unsec. sub. notes	4.956	3/15/18	17,300,000	17,763,848
State Street Corp. sr. unsec. unsub. notes	1.350	5/15/18	16,000,000	15,985,920
Sumitomo Mitsui Banking Corp. company guaranty sr. unsec. unsub. FRB (Japan)	1.738	1/16/18	6,600,000	6,615,833
Sumitomo Mitsui Banking Corp. company guaranty sr. unsec. unsub. FRN Ser. GMTN (Japan)	1.893	7/23/18	9,250,000	9,304,140
Sumitomo Mitsui Banking Corp. company guaranty sr. unsec. unsub. FRN Ser. GMTN (Japan)	1.478	7/11/17	5,000,000	5,001,140
Sumitomo Mitsui Banking Corp. 144A company guaranty sr. unsec. FRN (Japan)	1.828	10/19/18	10,000,000	10,024,540
SunTrust Bank/Atlanta, GA sr. unsec. FRN	1.700	1/31/20	14,850,000	14,939,753
SunTrust Banks, Inc. sr. unsec. notes	6.000	9/11/17	2,100,000	2,132,075
Svenska Handelsbanken AB company guaranty sr. unsec. FRN Ser. BKNT (Sweden)	1.590	9/6/19	5,000,000	5,017,730
Toronto-Dominion Bank (The) sr. unsec. FRN Ser. GMTN (Canada)	1.693	7/23/18	10,000,000	10,048,740
Toronto-Dominion Bank (The) sr. unsec. unsub. FRN (Canada)	1.684	8/13/19	6,000,000	6,044,814
Toronto-Dominion Bank (The) sr. unsec. unsub. FRN Ser. MTN (Canada)	1.594	11/5/19	2,500,000	2,516,808
Toronto-Dominion Bank (The) sr. unsec. unsub. FRN Ser. MTN (Canada)	1.578	1/18/19	4,950,000	4,969,350
Toronto-Dominion Bank (The) sr. unsec. unsub. FRN Ser. MTN (Canada)	1.420	3/13/18	10,000,000	10,011,760
U.S. Bancorp sr. unsec. unsub. FRN Ser. MTN	1.529	11/15/18	10,000,000	10,048,430
U.S. Bank, NA/Cincinnati, OH sr. unsec. FRN Ser. BKNT	1.652	10/28/19	19,400,000	19,541,154
U.S. Bank, NA/Cincinnati, OH sr. unsec. FRN Ser. BKNT	1.320	9/11/17	10,188,000	10,192,636
U.S. Bank, NA/Cincinnati, OH sr.unsec. FRN	1.473	1/24/20	9,900,000	9,922,928
UBS AG/Stamford CT sr. unsec. unsub. FRN	1.905	6/1/20	9,400,000	9,418,791
UBS AG/Stamford, CT sr. unsec. FRN Ser. GMTN	1.853	3/26/18	16,845,000	16,907,377
UBS AG/Stamford, CT sr. unsec. FRN Ser. GMTN	1.676	8/14/19	26,150,000	26,275,598
Wells Fargo & Co. sr. unsec. FRN	1.613	4/22/19	4,839,000	4,857,301
Wells Fargo & Co. sr. unsec. unsub. FRN	1.783	4/23/18	8,000,000	8,034,768
Wells Fargo & Co. sr. unsec. unsub. FRN	1.521	9/14/18	12,933,000	12,961,116
Wells Fargo & Co. sr. unsec. unsub. FRN Ser. MTN	2.033	7/22/20	9,897,000	10,020,129
Wells Fargo & Co. sr. unsec. unsub. FRN Ser. N	1.852	1/30/20	19,753,000	19,860,693
Wells Fargo Bank, NA sr. unsec. FRN Ser. BKNT	1.893	1/22/18	7,825,000	7,860,173
Westpac Banking Corp. sr. unsec. unsub. FRN (Australia)	1.793	11/23/18	10,000,000	10,076,960
Westpac Banking Corp. sr. unsec. unsub. FRN (Australia)	1.612	8/19/19	12,200,000	12,248,105
Westpac Banking Corp. sr. unsec. unsub. FRN (Australia)	1.530	3/6/20	14,900,000	14,908,910
Westpac Banking Corp. sr. unsec. unsub. FRN (Australia)	1.482	5/25/18	11,000,000	11,025,267
				1,582,588,123
Basic materials (0.2%)
E. I. du Pont de Nemours & Co. sr. unsec. unsub. FRN	1.700	5/1/20	11,725,000	11,770,024
				11,770,024
Capital goods (0.6%)
John Deere Capital Corp. sr. unsec. FRN Ser. MTN	1.351	12/15/17	10,000,000	9,999,490
John Deere Capital Corp. sr. unsec. unsub. FRN Ser. MTN	1.448	1/16/18	6,000,000	6,009,312
John Deere Capital Corp. sr. unsec. unsub. FRN Ser. MTN	1.440	10/9/19	10,000,000	10,017,310
United Technologies Corp. sr. unsec. unsub. FRN	1.384	11/1/19	10,000,000	10,066,260
				36,092,372
Communication services (1.4%)
AT&T, Inc. sr. unsec. unsub. FRN	1.962	11/27/18	10,000,000	10,086,290
AT&T, Inc. sr. unsec. unsub. notes	1.700	6/1/17	22,587,000	22,595,199
Deutsche Telekom International Finance BV 144A company guaranty sr. unsec. FRN (Netherlands)	1.738	1/17/20	12,750,000	12,776,329
Deutsche Telekom International Finance BV 144A company guaranty sr. unsec. unsub. FRN (Netherlands)	1.602	9/19/19	1,345,000	1,347,075
Verizon Communications, Inc. sr. unsec. unsub. FRN	1.506	6/9/17	13,000,000	13,004,641
Verizon Communications, Inc. sr. unsec. unsub. FRN	1.409	8/15/19	23,331,000	23,305,639
				83,115,173
Conglomerates (1.1%)
General Electric Capital Corp. company guaranty sr. unsec. unsub. FRN Ser. MTN	1.304	8/7/18	4,062,000	4,071,050
General Electric Co. sr. unsec. FRN Ser. GMTN	1.775	1/9/20	15,149,000	15,320,608
Siemens Financieringsmaatschappij NV 144A company guaranty sr. unsec. FRN (Netherlands)	1.477	3/16/20	24,750,000	24,789,105
Siemens Financieringsmaatschappij NV 144A company guaranty sr. unsec. FRN (Netherlands)	1.440	9/13/19	15,000,000	15,041,400
Siemens Financieringsmaatschappij NV 144A company guaranty sr. unsec. FRN (Netherlands)	1.332	5/25/18	10,000,000	10,019,880
				69,242,043
Consumer cyclicals (3.4%)
BMW US Capital, LLC 144A company guaranty sr. unsec. unsub. FRN	1.530	4/6/20	9,800,000	9,802,362
Daimler Finance North America, LLC 144A company guaranty sr. unsec. FRN	1.890	7/5/19	10,000,000	10,073,040
Daimler Finance North America, LLC 144A company guaranty sr. unsec. FRN	1.792	10/30/19	15,000,000	15,078,300
Daimler Finance North America, LLC 144A company guaranty sr. unsec. FRN	1.780	1/6/20	9,750,000	9,794,606
Daimler Finance North America, LLC 144A company guaranty sr. unsec. FRN	1.745	8/3/17	2,450,000	2,454,459
Daimler Finance North America, LLC 144A company guaranty sr. unsec. FRN	1.374	8/1/17	6,000,000	6,003,792
Ford Motor Credit Co., LLC sr. unsec. unsub. FRB	1.964	11/4/19	4,875,000	4,912,021
Ford Motor Credit Co., LLC sr. unsec. unsub. FRN	1.670	12/6/17	15,000,000	15,012,495
Ford Motor Credit Co., LLC sr. unsec. unsub. FRN	1.626	9/8/17	5,950,000	5,950,000
Ford Motor Credit Co., LLC sr. unsec. unsub. FRN Ser. 1	1.950	3/12/19	8,700,000	8,723,621
General Motors Financial Co., Inc. company guaranty sr. unsec. FRN	2.420	10/4/19	4,950,000	5,017,810
General Motors Financial Co., Inc. company guaranty sr. unsec. unsub. FRN	2.629	5/9/19	7,535,000	7,655,952
General Motors Financial Co., Inc. company guaranty sr. unsec. unsub. FRN	2.515	4/10/18	16,790,000	16,943,897
Moody's Corp. sr. unsec. unsub. FRN	1.414	9/4/18	21,750,000	21,791,934
Nissan Motor Acceptance Corp. 144A sr. unsec. FRN	1.950	4/6/18	5,000,000	5,025,070
Nissan Motor Acceptance Corp. 144A sr. unsec. FRN	1.735	1/13/20	10,250,000	10,272,140
Nissan Motor Acceptance Corp. 144A sr. unsec. FRN	1.640	9/13/19	15,000,000	15,043,905
Toyota Motor Credit Corp. sr. unsec. unsub. FRN Ser. MTN	1.598	10/18/19	8,500,000	8,535,581
Toyota Motor Credit Corp. sr. unsec. unsub. FRN Ser. MTN	1.548	1/17/19	2,105,000	2,114,656
Toyota Motor Credit Corp. sr. unsec. unsub. FRN Ser. MTN	1.237	5/16/17	10,272,000	10,273,222
Walt Disney Co. (The) sr. unsec. unsub. FRN	1.475	1/8/19	15,000,000	15,048,450
				205,527,313
Consumer finance (2.1%)
American Express Bank FSB sr. unsec. unsub. FRN Ser. BKNT	1.288	6/12/17	12,340,000	12,342,678
American Express Co. sr. unsec. unsub. FRN	1.640	5/22/18	7,860,000	7,892,721
American Express Credit Corp. sr. unsec. FRN Ser. MTN	1.502	5/3/19	6,835,000	6,837,167
American Express Credit Corp. sr. unsec. unsub. FRN	1.702	3/18/19	10,921,000	10,977,582
American Express Credit Corp. sr. unsec. unsub. FRN Ser. MTN	1.742	10/30/19	5,000,000	5,010,500
American Honda Finance Corp. sr. unsec. unsub. FRN Ser. MTN	1.615	7/13/18	7,000,000	7,034,104
American Honda Finance Corp. sr. unsec. unsub. FRN Ser. MTN	1.430	12/11/17	15,000,000	15,022,125
American Honda Finance Corp. sr. unsec. unsub. FRN Ser. MTN	1.377	2/14/20	14,700,000	14,737,265
Capital One Bank USA NA sr. unsec. notes Ser. BKNT	1.300	6/5/17	18,700,000	18,701,085
Synchrony Financial sr. unsec. unsub. FRN	2.579	11/9/17	15,000,000	15,078,750
Synchrony Financial sr. unsec. unsub. notes	1.875	8/15/17	15,135,000	15,139,495
				128,773,472
Consumer staples (0.9%)
Anheuser-Busch InBev Finance, Inc. company guaranty sr. unsec. unsub. FRN	1.434	2/1/19	3,874,000	3,886,765
Molson Coors Brewing Co. company guaranty sr. unsec. unsub. notes	1.450	7/15/19	10,340,000	10,211,546
Mondelez International Holdings Netherlands BV 144A company guaranty sr. unsec. unsub. FRN (Netherlands)	1.782	10/28/19	28,600,000	28,709,138
PepsiCo, Inc. sr. unsec. unsub. FRN	1.640	2/22/19	4,230,000	4,270,100
PepsiCo, Inc. sr. unsec. unsub. FRN	1.505	10/13/17	10,510,000	10,528,277
				57,605,826
Energy (1.8%)
BP Capital Markets PLC company guaranty sr. unsec. unsub. FRN (United Kingdom)	1.574	5/10/19	2,000,000	2,007,602
BP Capital Markets PLC company guaranty sr. unsec. unsub. FRN (United Kingdom)	1.386	8/14/18	15,000,000	15,033,285
BP Capital Markets PLC company guaranty sr. unsec. unsub. notes (United Kingdom)	1.846	5/5/17	28,766,000	28,767,093
Chevron Corp. sr. unsec. FRN	1.449	11/15/19	9,800,000	9,872,598
Chevron Corp. sr. unsec. FRN	1.303	3/3/20	24,950,000	24,994,561
Exxon Mobil Corp. sr. unsec. unsub. notes	1.439	3/1/18	9,000,000	9,008,991
Total Capital International SA company guaranty sr. unsec. unsub. FRN (France)	1.502	6/19/19	4,525,000	4,535,362
Total Capital International SA company guaranty sr. unsec. unsub. notes (France)	1.550	6/28/17	14,200,000	14,199,929
				108,419,421
Financial (1.9%)
Berkshire Hathaway Finance Corp. company guaranty sr. unsec. unsub. FRN	1.652	3/7/18	10,000,000	10,050,830
Berkshire Hathaway Finance Corp. company guaranty sr. unsec. unsub. FRN	1.475	1/10/20	19,750,000	19,831,765
Berkshire Hathaway Finance Corp. company guaranty sr. unsec. unsub. FRN	1.456	1/12/18	10,000,000	10,024,610
Macquarie Group Ltd. 144A sr. unsec. notes (Australia)	4.875	8/10/17	6,200,000	6,254,107
Morgan Stanley sr. unsec. unsub. FRN	2.117	6/16/20	6,042,000	6,101,206
Morgan Stanley sr. unsec. unsub. FRN	2.003	1/24/19	28,420,000	28,655,971
Morgan Stanley sr. unsec. unsub. FRN	1.890	1/5/18	1,718,000	1,725,087
Morgan Stanley sr. unsec. unsub. FRN Ser. 3NC2	1.842	2/14/20	24,600,000	24,667,010
UBS Group Funding Jersey, Ltd. 144A company guaranty sr. unsec. FRN (Jersey)	2.597	9/24/20	6,700,000	6,834,744
				114,145,330
Health care (1.0%)
Actavis Funding SCS company guaranty sr. unsec. unsub. FRN (Luxembourg)	2.200	3/12/18	10,000,000	10,062,740
Amgen, Inc. sr. unsec. FRN	1.430	5/22/17	22,950,000	22,954,452
AstraZeneca PLC sr. unsec. unsub. FRN (United Kingdom)	1.567	11/16/18	10,000,000	10,059,020
Bayer US Finance, LLC 144A company guaranty sr. unsec. unsub. FRN	1.430	10/6/17	16,595,000	16,595,564
UnitedHealth Group, Inc. sr. unsec. notes	6.000	2/15/18	1,526,000	1,579,442
				61,251,218
Insurance (1.7%)
Jackson National Life Global Funding 144A sr. FRN	1.738	10/13/17	10,222,000	10,244,764
Metropolitan Life Global Funding I 144A FRN	1.582	12/19/18	10,000,000	10,030,380
Metropolitan Life Global Funding I 144A FRN	1.461	9/14/18	25,000,000	25,060,150
New York Life Global Funding 144A FRN	1.550	4/6/18	10,600,000	10,635,796
New York Life Global Funding 144A FRN	1.543	10/24/19	15,000,000	15,065,850
New York Life Global Funding 144A FRN	1.411	12/15/17	10,000,000	10,015,110
Principal Life Global Funding II 144A FRN	1.355	2/22/19	10,000,000	9,996,440
Principal Life Global Funding II 144A sr. FRN	1.555	12/1/17	10,000,000	10,029,510
				101,078,000
Investment banking/Brokerage (0.9%)
Goldman Sachs Group, Inc. (The) sr. unsec. unsub. FRN	1.920	12/13/19	10,000,000	10,032,930
Goldman Sachs Group, Inc. (The) sr. unsec. unsub. FRN Ser. MTN	2.139	11/15/18	10,000,000	10,115,540
Goldman Sachs Group, Inc. (The) sr. unsec. unsub. FRN Ser. MTN	1.931	12/15/17	11,719,000	11,756,489
Goldman Sachs Group, Inc. (The) sr. unsec. unsub. FRN Ser. MTN	1.725	6/4/17	18,400,000	18,409,090
Macquarie Bank, Ltd. 144A sr. unsec. unsub. FRN (Australia)	1.797	10/27/17	4,385,000	4,395,642
				54,709,691
Real estate (1.3%)
Boston Properties LP sr. unsec. unsub. notes(R)	3.700	11/15/18	28,600,000	29,289,689
Brandywine Operating Partnership LP company guaranty sr. unsec. unsub. notes(R)	5.700	5/1/17	23,408,000	23,408,000
ERP Operating LP sr. unsec. notes(R)	5.750	6/15/17	18,153,000	18,241,024
Realty Income Corp. sr. unsec. notes(R)	5.375	9/15/17	3,335,000	3,381,156
Realty Income Corp. sr. unsec. notes(R)	2.000	1/31/18	2,100,000	2,104,290
				76,424,159
Technology (0.8%)
Apple, Inc. sr. unsec. FRN	1.238	2/7/20	25,000,000	25,074,850
Cisco Systems, Inc. sr. unsec. FRN	1.441	6/15/18	10,000,000	10,032,120
Cisco Systems, Inc. sr. unsec. unsub. FRN	1.652	2/21/18	5,000,000	5,028,550
Qualcomm, Inc. sr. unsec. unsub. FRN	1.322	5/18/18	10,000,000	9,998,320
				50,133,840
Transportation (—%)
Continental Airlines, Inc. Pass-Through Trust pass-through certificates Ser. 97-4, Class A, 6.90%, 1/2/18	6.900	1/2/18	397,891	404,059
				404,059
Utilities and power (1.1%)
DTE Energy Co. sr. unsec. notes	1.500	10/1/19	7,000,000	6,893,572
Edison International sr. unsec. notes	2.125	4/15/20	10,000,000	10,023,770
Enbridge, Inc. sr. unsec. unsub. FRN (Canada)	1.514	6/2/17	14,200,000	14,201,221
Exelon Corp. sr. unsec. unsub. notes	1.550	6/9/17	12,380,000	12,381,114
NextEra Energy Capital Holdings, Inc. company guaranty sr. unsec. notes	1.649	9/1/18	7,000,000	6,979,427
Sempra Energy sr. unsec. unsub. notes	1.625	10/7/19	10,000,000	9,920,400
Xcel Energy, Inc. sr. unsec. unsub. notes	1.200	6/1/17	5,000,000	4,999,745
				65,399,249
Total corporate bonds and notes (cost $2,799,844,974)				$2,806,679,313
COMMERCIAL PAPER (42.4%)(a)
	Yield (%)	Maturity date	Principal amount	Value
ABN AMRO Funding USA, LLC	1.125	7/5/17	$6,000,000	$5,987,092
Aegon NV 144A (Netherlands)	1.405	7/18/17	34,500,000	34,395,286
Agrium, Inc. (Canada)	1.271	5/23/17	19,500,000	19,483,872
Albemarle Corp.	1.421	5/3/17	2,300,000	2,299,557
Albemarle Corp. 144A	1.451	5/15/17	19,513,000	19,500,073
Amcor, Ltd./Australia (Australia)	1.313	5/16/17	29,750,000	29,732,760
American Electric Power Co., Inc.	1.252	5/10/17	700,000	699,734
American Electric Power Co., Inc.	1.322	5/9/17	10,000,000	9,996,532
American Electric Power Co., Inc.	1.272	5/3/17	3,276,000	3,275,494
American Electric Power Co., Inc.	1.262	5/2/17	4,450,000	4,449,452
American Electric Power Co., Inc. 144A	1.252	6/1/17	19,750,000	19,727,113
American Express Credit Corp.	1.002	5/16/17	12,000,000	11,993,376
Assa Abloy Financial Services AB (Sweden)	1.365	7/28/17	21,000,000	20,927,117
Assa Abloy Financial Services AB (Sweden)	1.314	6/28/17	23,500,000	23,448,154
Autonation, Inc.	1.370	5/1/17	46,000,000	45,994,691
AutoZone, Inc.	1.201	5/31/17	20,000,000	19,977,542
AutoZone, Inc.	1.201	5/16/17	10,000,000	9,994,205
AutoZone, Inc.	1.201	5/12/17	20,000,000	19,991,086
B.A.T. International Finance PLC (United Kingdom)	1.455	7/26/17	25,000,000	24,915,450
B.A.T. International Finance PLC (United Kingdom)	1.435	7/24/17	20,000,000	19,934,122
Bank of New York Mellon Corp. (The)	1.003	6/12/17	20,000,000	19,977,626
Bank of Nova Scotia (The) 144A (Canada)	1.260	2/2/18	10,000,000	10,018,630
Barclays Bank PLC (United Kingdom)	1.235	6/26/17	20,000,000	19,957,520
Bell Canada, Inc. (Canada)	1.313	6/21/17	3,400,000	3,394,084
Bell Canada, Inc. (Canada)	1.303	6/5/17	8,600,000	8,589,715
Bell Canada, Inc. (Canada)	1.211	5/26/17	14,750,000	14,737,186
Bell Canada, Inc. 144A (Canada)	1.272	5/25/17	20,000,000	19,983,260
Berkshire Hathaway Energy Co.	1.211	5/5/17	24,750,000	24,744,610
BPCE SA (France)	1.078	5/8/17	10,000,000	9,997,392
Cabot Corp.	1.130	5/1/17	39,000,000	38,996,409
Canadian Imperial Bank of Commerce (Canada)	1.194	7/20/17	10,000,000	10,008,730
Canadian Natural Resources, Ltd. (Canada)	1.412	5/23/17	26,500,000	26,475,837
Canadian Natural Resources, Ltd. (Canada)	1.472	5/16/17	14,433,000	14,423,590
CenterPoint Energy Resources Corp.	1.333	5/22/17	10,000,000	9,992,100
CenterPoint Energy Resources Corp.	1.342	5/4/17	10,000,000	9,998,140
CenterPoint Energy, Inc.	1.252	5/4/17	10,000,000	9,998,140
CenterPoint Energy, Inc.	1.262	5/3/17	13,400,000	13,397,931
Church & Dwight Co. Inc. 144A	1.181	5/11/17	33,400,000	33,386,226
Clorox Co. (The) 144A	1.121	6/2/17	13,700,000	13,683,644
Comcast Corp.	1.202	5/12/17	14,600,000	14,593,493
Commonwealth Bank of Australia 144A (Australia)	1.187	2/15/18	10,000,000	10,019,670
CRH America Finance, Inc.	1.272	6/5/17	14,000,000	13,981,779
CRH America Finance, Inc.	1.262	5/10/17	10,000,000	9,996,203
CRH America Finance, Inc.	1.265	5/1/17	11,000,000	10,998,987
CRH America Finance, Inc. 144A	1.241	5/25/17	10,000,000	9,990,978
Danske Corp. (Denmark)	1.084	6/19/17	5,000,000	4,991,644
Danske Corp. (Denmark)	1.084	6/1/17	6,000,000	5,993,614
DnB Bank ASA (Norway)	1.029	6/23/17	20,000,000	19,970,849
DnB Bank ASA 144A (Norway)	1.269	1/19/18	10,000,000	10,018,890
Dollar General Corp.	1.201	5/12/17	24,500,000	24,487,928
Dollar General Corp.	1.200	5/2/17	20,000,000	19,997,238
Dominion Resources, Inc./VA	1.303	6/26/17	10,000,000	9,978,760
Dominion Resources, Inc./VA	1.232	5/31/17	24,700,000	24,672,264
Dominion Resources, Inc./VA	1.191	5/17/17	14,400,000	14,391,169
Duke Energy Corp.	1.263	6/21/17	14,750,000	14,721,724
Duke Energy Corp.	1.310	6/19/17	16,700,000	16,669,340
E. I. du Pont de Nemours & Co.	1.201	5/18/17	19,750,000	19,737,108
E. I. du Pont de Nemours & Co.	1.192	5/2/17	10,000,000	9,998,738
Electricite De France SA (France)	1.231	5/30/17	20,000,000	19,979,484
Enbridge Energy Partners LP	1.652	5/19/17	9,750,000	9,742,561
Enbridge Energy Partners LP 144A	1.622	5/2/17	19,000,000	18,997,285
Enbridge US, Inc.	1.261	5/25/17	7,700,000	7,693,053
Energy Transfer Partners LP	1.450	5/1/17	46,000,000	45,994,691
Eni Finance USA, Inc.	1.192	5/9/17	25,000,000	24,992,017
Enterprise Products Operating, LLC 144A	1.251	5/11/17	25,000,000	24,989,690
ERP Operating LP	1.251	5/26/17	8,000,000	7,992,483
Exelon Generation Co., LLC	1.190	5/5/17	23,000,000	22,994,991
Experian Finance PLC (United Kingdom)	1.191	5/12/17	15,000,000	14,993,589
Experian Finance PLC (United Kingdom)	1.060	5/5/17	5,000,000	4,998,940
Florida Power & Light Co.	1.254	7/6/17	17,100,000	17,060,965
Florida Power & Light Co.	1.274	6/23/17	4,052,000	4,044,669
Fortive Corp.	1.150	5/4/17	8,400,000	8,398,438
Glencore Funding, LLC 144A	1.190	5/3/17	20,000,000	19,996,264
Hawaiian Electric Co., Inc.	1.400	5/4/17	3,150,000	3,149,323
Hawaiian Electric Industries, Inc.	1.350	5/2/17	2,250,000	2,249,679
HSBC USA, Inc. 144A	1.249	5/3/17	2,500,000	2,500,188
HSBC USA, Inc. 144A	1.156	10/6/17	19,750,000	19,753,042
Humana, Inc.	1.302	5/18/17	3,900,000	3,897,168
Humana, Inc.	1.251	5/10/17	25,000,000	24,989,200
Humana, Inc. 144A	1.402	5/11/17	14,600,000	14,593,162
Intesa Funding, LLC (Spain)	1.303	6/8/17	20,000,000	19,972,484
Intesa Funding, LLC (Spain)	1.303	6/6/17	24,700,000	24,667,863
Kansas City Southern	1.401	5/11/17	25,000,000	24,987,380
Kinder Morgan, Inc./DE	1.450	5/1/17	39,400,000	39,395,452
Kraft Heinz Co. (The)	1.272	5/30/17	15,000,000	14,981,027
Kraft Heinz Co. (The)	1.251	5/26/17	15,000,000	14,983,468
Kraft Heinz Co. (The)	1.261	5/2/17	5,000,000	4,999,230
Lloyds Bank PLC (United Kingdom)	0.992	5/8/17	10,000,000	9,997,572
LyondellBasell Investment LLC	1.172	5/31/17	19,000,000	18,978,665
Macquarie Bank, Ltd. (Australia)	1.073	5/4/17	20,000,000	19,997,316
Marriott International, Inc./MD	1.371	6/19/17	24,000,000	23,955,939
Marriott International, Inc./MD 144A	1.332	5/15/17	21,500,000	21,488,263
Marsh & McLennan Companies, Inc.	1.201	6/1/17	12,000,000	11,986,094
Marsh & McLennan Companies, Inc.	1.181	5/18/17	18,000,000	17,988,350
McKesson Corp.	1.181	5/9/17	24,500,000	24,491,503
Medtronic Global Holdings SCA (Luxembourg)	1.042	5/8/17	20,000,000	19,993,922
Mizuho Bank Ltd./New York, NY	1.103	6/9/17	7,000,000	6,992,405
Mizuho Bank Ltd./NY	1.164	7/20/17	7,000,000	6,982,409
Mizuho Bank Ltd./NY	1.051	5/4/17	9,340,000	9,338,646
Mohawk Industries, Inc.	1.191	5/18/17	21,000,000	20,986,408
Molson Coors Brewing Co.	1.351	5/23/17	20,000,000	19,983,458
Mondelez International, Inc.	1.191	5/17/17	10,000,000	9,993,867
Moody's Corp.	1.251	5/19/17	20,000,000	19,986,374
National Grid USA	1.153	5/17/17	20,000,000	19,987,734
Nationwide Building Society (United Kingdom)	1.216	6/1/17	24,750,000	24,724,825
Nationwide Building Society (United Kingdom)	1.134	5/30/17	9,000,000	8,991,416
Nationwide Building Society 144A (United Kingdom)	1.154	8/2/17	18,000,000	17,942,305
NextEra Energy Capital Holdings, Inc.	1.252	5/22/17	20,000,000	19,984,200
NextEra Energy Capital Holdings, Inc.	1.212	5/9/17	10,160,000	10,156,476
NiSource Finance Corp.	1.271	5/16/17	10,000,000	9,994,205
NiSource Finance Corp.	1.269	5/10/17	34,750,000	34,736,805
NiSource Finance Corp.	1.251	5/9/17	3,900,000	3,898,647
Nissan Motor Acceptance Corp.	1.053	5/15/17	5,000,000	4,997,271
Nissan Motor Acceptance Corp. 144A	1.183	6/8/17	20,000,000	19,971,801
Nordea Bank AB (Sweden)	1.157	7/25/17	10,000,000	9,974,749
NRW Bank (Germany)	1.113	7/20/17	23,000,000	22,943,153
NRW Bank (Germany)	1.103	7/6/17	19,500,000	19,460,756
NRW.Bank (Germany)	1.134	8/7/17	20,000,000	19,938,502
Omnicom Capital, Inc.	1.171	5/19/17	8,300,000	8,294,345
ONEOK Partners LP	1.501	5/19/17	10,000,000	9,993,187
ONEOK Partners LP	1.531	5/9/17	8,000,000	7,997,226
ONEOK Partners LP	1.501	5/8/17	13,700,000	13,695,695
ONEOK Partners LP	1.371	5/1/17	14,700,000	14,698,646
PPL Electric Utilities Corp.	1.251	5/10/17	10,000,000	9,996,203
Rabobank Nederland NV/New York, NY (Netherlands)	1.208	8/7/17	25,000,000	24,924,600
Schlumberger Holdings Corp.	1.202	6/8/17	15,700,000	15,679,651
Schlumberger Holdings Corp.	1.103	5/24/17	10,000,000	9,991,947
Sempra Global	1.425	8/3/17	25,000,000	24,906,436
Simon Property Group LP	1.043	6/14/17	25,000,000	24,970,690
Simon Property Group LP	1.003	6/5/17	3,200,000	3,197,017
Simon Property Group LP	0.982	5/22/17	10,000,000	9,994,253
Simon Property Group LP	1.095	5/15/17	27,750,000	27,738,822
Southern Co. (The)	1.251	5/22/17	20,000,000	19,984,200
Southern Co. (The)	1.272	5/1/17	15,000,000	14,998,619
Southern Company Gas Capital Corp.	1.251	5/16/17	10,000,000	9,994,205
Standard Chartered Bank/New York, NY	1.124	6/9/17	10,000,000	9,988,730
Suncor Energy, Inc. (Canada)	1.252	6/13/17	10,000,000	9,984,041
Suncor Energy, Inc. (Canada)	1.252	6/2/17	19,500,000	19,476,719
Suncorp-Metway Ltd. 144A (Australia)	1.185	6/28/17	24,750,000	24,700,849
Swedbank AB (Sweden)	1.177	7/28/17	14,750,000	14,712,231
Swedbank AB (Sweden)	1.008	6/13/17	10,000,000	9,988,181
Textron, Inc.	1.301	5/17/17	19,500,000	19,486,569
Total Capital Canada Ltd. (Canada)	0.932	5/17/17	25,000,000	24,988,429
TransCanada PipeLines, Ltd. (Canada)	1.131	5/15/17	1,500,000	1,499,181
Tyco Electronics Group SA (Luxembourg)	1.130	5/1/17	37,000,000	36,996,593
Tyson Foods, Inc.	1.251	5/8/17	23,600,000	23,592,500
UDR, Inc. 144A	1.250	5/3/17	52,500,000	52,491,894
United Technologies Corp.	1.151	5/2/17	15,300,000	15,298,115
UnitedHealth Group, Inc.	1.202	5/24/17	42,750,000	42,715,574
Westar Energy, Inc.	1.201	5/4/17	24,000,000	23,995,536
Westpac Banking Corp. 144A (Australia)	1.321	11/2/17	5,000,000	5,009,360
Westpac Banking Corp. 144A FRN (Australia)	1.426	9/22/17	9,000,000	9,016,695
Whirlpool Corp.	1.201	5/18/17	4,000,000	3,997,411
Whirlpool Corp.	1.181	5/2/17	19,900,000	19,897,548
WPP CP, LLC	1.271	5/26/17	15,000,000	14,985,907
WPP CP, LLC	1.251	5/17/17	14,000,000	13,991,414
Wyndham Worldwide Corp.	1.451	5/8/17	9,750,000	9,746,225
Wyndham Worldwide Corp.	1.501	5/2/17	10,000,000	9,998,460
Wyndham Worldwide Corp.	1.351	5/1/17	3,000,000	2,999,654
Total commercial paper (cost $2,573,196,219)				$2,573,139,234
CERTIFICATES OF DEPOSIT (5.6%)(a)
	Yield (%)	Maturity date	Principal amount	Value
Bank of America, NA FRN	1.151	8/2/17	$7,000,000	$6,999,825
Bank of Montreal/Chicago, IL (Canada)	1.150	8/14/17	25,000,000	25,005,709
Bank of Nova Scotia/Houston	1.620	11/1/18	5,000,000	4,998,520
Bank of Nova Scotia/Houston FRN	1.436	9/7/17	5,000,000	5,005,200
Bank of Tokyo-Mitsubishi UFJ, Ltd./New York, NY FRN (Japan)	1.703	2/22/19	10,000,000	10,014,110
Bank of Tokyo-Mitsubishi UFJ, Ltd./New York, NY FRN (Japan)	1.672	8/17/17	5,000,000	5,008,575
Barclays Bank PLC/New York, NY FRN (United Kingdom)	1.606	7/31/17	5,000,000	5,005,735
Canadian Imperial Bank of Commerce/New York, NY FRN	1.537	8/16/17	7,500,000	7,512,428
Canadian Imperial Bank of Commerce/New York, NY FRN	1.485	2/2/18	24,500,000	24,556,448
Canadian Imperial Bank of Commerce/New York, NY FRN	1.454	5/24/17	500,000	500,182
Canadian Imperial Bank of Commerce/New York, NY FRN	1.334	6/2/17	15,550,000	15,555,536
Canadian Imperial Bank of Commerce/New York, NY FRN	1.313	3/20/18	10,000,000	10,006,370
Credit Suisse AG/New York, NY FRN	1.920	9/12/17	5,000,000	5,012,970
Credit Suisse AG/New York, NY FRN	1.834	8/24/17	5,000,000	5,010,840
Lloyds Bank PLC/New York, NY FRN (United Kingdom)	1.461	6/20/17	25,000,000	25,016,875
Mizuho Bank Ltd./New York, NY FRN	1.583	6/5/17	2,385,000	2,386,560
National Bank of Canada/New York, NY FRN	1.454	5/24/17	10,000,000	10,003,640
Nordea Bank AB/New York, NY FRN	1.442	3/7/19	10,000,000	9,996,350
Nordea Bank AB/New York, NY FRN	1.437	2/21/19	6,000,000	5,997,858
Nordea Bank Finland PLC/New York FRN	1.600	9/6/17	13,000,000	13,023,725
Royal Bank of Canada/New York, NY FRN (Canada)	1.555	10/13/17	10,000,000	10,018,790
Royal Bank of Canada/New York, NY FRN (Canada)	1.406	12/8/17	5,000,000	5,007,860
Skandinaviska Enskilda Banken AB/New York, NY FRN	1.421	2/21/18	20,000,000	20,027,360
Skandinaviska Enskilda Banken AB/New York, NY FRN	1.263	2/22/18	10,000,000	10,009,160
Sumitomo Mitsui Banking Corp./New York FRN (Japan)	1.372	7/5/17	10,000,000	10,009,200
Svenska Handelsbanken/New York, NY (Sweden)	0.902	5/19/17	5,000,000	5,001,155
Svenska Handelsbanken/New York, NY FRN (Sweden)	1.534	5/15/17	4,200,000	4,201,197
Svenska Handelsbanken/New York, NY FRN (Sweden)	1.504	8/24/17	10,000,000	10,015,650
Svenska Handelsbanken/New York, NY FRN (Sweden)	1.439	2/12/19	20,000,000	19,993,000
Svenska Handelsbanken/New York, NY FRN (Sweden)	1.279	8/15/17	18,000,000	18,015,552
Swedbank AB/New York FRN	1.328	5/22/17	20,000,000	20,005,120
Toronto-Dominion Bank/NY (Canada)	1.514	11/20/17	10,000,000	10,018,460
Total certificates of deposit (cost $338,677,095)				$338,939,960
MORTGAGE-BACKED SECURITIES (2.6%)(a)
	Interest rate (%)	Maturity date	Principal amount	Value
Agency collateralized mortgage obligations (1.2%)
Federal Home Loan Mortgage Corporation
Ser. 1619, Class PZ	6.500	11/15/23	$130,430	$141,606
Ser. 3724, Class CM	5.500	6/15/37	209,384	233,691
Ser. 3316, Class CD	5.500	5/15/37	83,535	91,107
Ser. 2503, Class B	5.500	9/15/17	4,017	4,050
Ser. 2561, Class BD	5.000	2/15/18	39,608	40,217
Ser. 2541, Class JC	5.000	12/15/17	14,025	14,205
Ser. 2542, Class ES	5.000	12/15/17	2,635	2,670
Ser. 2519, Class AH	5.000	11/15/17	29,203	29,362
Ser. 2513, Class DB	5.000	10/15/17	2,881	2,898
Ser. 3539, Class PM	4.500	5/15/37	26,930	27,983
Ser. 2958, Class QD	4.500	4/15/20	11,148	11,280
Structured Agency Credit Risk Debt FRN Ser. 13-DN1, Class M1	4.391	7/25/23	58,118	58,920
Ser. 2854, Class DL	4.000	9/15/19	56,247	56,881
Ser. 2864, Class GB	4.000	9/15/19	45,137	45,909
Ser. 2783, Class AY	4.000	4/15/19	36,429	36,851
Structured Agency Credit Risk Debt FRN Ser. 16-DNA1, Class M2	3.891	7/25/28	574,000	598,567
Structured Agency Credit Risk Debt FRN Ser. 15-DNA3, Class M2	3.841	4/25/28	4,553,803	4,709,015
Structured Agency Credit Risk Debt FRN Ser. 15-HQA2, Class M2	3.791	5/25/28	4,410,186	4,558,898
Structured Agency Credit Risk Debt FRN Ser. 15-HQA1, Class M2	3.641	3/25/28	8,298,858	8,519,193
Structured Agency Credit Risk Debt FRN Ser. 14-HQ3, Class M2, IO	3.641	10/25/24	1,998,329	2,014,995
Structured Agency Credit Risk Debt FRN Ser. 15-DNA2, Class M2	3.591	12/25/27	11,103,562	11,392,921
Ser. 3805, Class AK	3.500	4/15/24	11,680	11,721
Structured Agency Credit Risk Debt FRN Ser. 15-DN1, Class M2	3.391	1/25/25	303,763	305,394
Structured Agency Credit Risk Debt FRN Ser. 14-DN4, Class M2	3.391	10/25/24	215,533	215,807
Structured Agency Credit Risk Debt FRN Ser. 14-DN3, Class M2	3.391	8/25/24	1,325,845	1,330,479
Structured Agency Credit Risk Debt FRN Ser. 16-DNA2, Class M2	3.191	10/25/28	3,845,000	3,934,001
Structured Agency Credit Risk Debt FRN Ser. 15-HQ1, Class M2	3.191	3/25/25	4,398,590	4,451,710
Structured Agency Credit Risk Debt FRN Ser. 14-DN1, Class M2	3.191	2/25/24	3,248,000	3,340,528
Structured Agency Credit Risk Debt FRN Ser. 14-DN2, Class M2	2.641	4/25/24	7,081,951	7,152,732
Structured Agency Credit Risk Debt FRN Ser. 16-DNA3, Class M1	2.091	12/25/28	3,844,600	3,857,932
Ser. 3611, PO	0.000	7/15/34	65,168	57,147
Federal National Mortgage Association
Ser. 11-15, Class AB	9.750	8/25/19	49,142	51,028
Ser. 10-110, Class AE	9.750	11/25/18	39,196	40,720
Ser. 05-48, Class AR	5.500	2/25/35	64,831	67,457
Ser. 08-8, Class PA	5.000	2/25/38	82,454	85,685
Ser. 09-15, Class MC	5.000	3/25/24	16,195	16,499
Ser. 02-73, Class OE	5.000	11/25/17	8,703	8,741
Ser. 09-100, Class PA	4.500	4/25/39	6,200	6,235
Ser. 11-60, Class PA	4.000	10/25/39	23,484	24,260
Ser. 11-36, Class PA	4.000	2/25/39	134,542	136,258
Ser. 03-43, Class YA	4.000	3/25/33	239,156	241,746
Ser. 10-109, Class JB	4.000	8/25/28	17,456	17,490
Ser. 04-27, Class HB	4.000	5/25/19	19,498	19,794
Ser. 03-128, Class NG	4.000	1/25/19	35,432	36,197
Ser. 11-20, Class PC	3.500	3/25/39	51,997	52,936
Ser. 10-155, Class A	3.500	9/25/25	20,385	20,747
Connecticut Avenue Securities FRB Ser. 16-C02, Class 1M1	3.141	9/25/28	636,014	644,848
Connecticut Avenue Securities FRB Ser. 16-C01, Class 2M1	3.091	8/25/28	514,232	520,451
Ser. 11-42, Class BJ	3.000	8/25/25	226,218	227,423
Ser. 10-43, Class KG	3.000	1/25/21	48,312	48,851
Connecticut Avenue Securities FRB Ser. 16-C03, Class 1M1	2.991	10/25/28	227,702	231,825
Connecticut Avenue Securities FRB Ser. 13-C01, Class M1	2.991	10/25/23	74,022	74,749
Connecticut Avenue Securities FRB Ser. 16-C01, Class 1M1	2.941	8/25/28	520,621	526,905
Ser. 11-23, Class AB	2.750	6/25/20	26,915	27,056
Connecticut Avenue Securities FRB Ser. 15-C04, Class 2M1	2.691	4/25/28	83,857	84,094
Connecticut Avenue Securities FRB Ser. 14-C01, Class M1	2.591	1/25/24	422,956	426,992
Ser. 10-81, Class AP	2.500	7/25/40	95,065	95,041
Connecticut Avenue Securities FRB Ser. 16-C05, Class 2M1	2.341	1/25/29	7,606,696	7,662,673
Connecticut Avenue Securities FRB Ser. 14-C02, Class 2M1	1.941	5/25/24	17,188	17,215
FRB Ser. 10-90, Class GF	1.491	8/25/40	1,760,824	1,750,611
FRB Ser. 06-74, Class FL	1.341	8/25/36	330,868	329,860
FRB Ser. 05-63, Class FC	1.241	10/25/31	906,616	903,640
Ser. 92-96, Class B, PO	0.000	5/25/22	8,798	8,612
Government National Mortgage Association
Ser. 10-39, Class PH	4.500	11/20/38	74,007	75,451
Ser. 09-109, Class NK	4.500	7/20/37	9,669	9,670
Ser. 09-32, Class AB	4.000	5/16/39	23,512	24,997
Ser. 10-32, Class CJ	4.000	1/20/38	19,391	19,434
				71,784,861
Commercial mortgage-backed securities (—%)
DBRR Trust 144A FRB Ser. 13-EZ3, Class A	1.636	12/18/49	269,656	269,656
JPMorgan Chase Commercial Mortgage Securities Trust Ser. 04-LN2, Class A2	5.115	7/15/41	133,687	133,794
				403,450
Residential mortgage-backed securities (non-agency) (1.4%)
Accredited Mortgage Loan Trust FRB Ser. 06-2, Class A3	1.141	9/25/36	1,155,214	1,143,662
BCAP, LLC Trust 144A
FRB Ser. 15-RR6, Class 3A1	1.578	5/26/46	2,651,869	2,613,948
FRB Ser. 12-RR10, Class 5A5	1.247	4/26/36	706,564	707,836
Bear Stearns Asset Backed Securities I Trust
FRB Ser. 05-FR1, Class M1	1.741	6/25/35	2,662,544	2,664,486
FRB Ser. 05-TC1, Class M1	1.651	5/25/35	2,032,394	2,012,070
FRB Ser. 05-EC1, Class M1	1.441	11/25/35	841,764	841,563
Bear Stearns Asset Backed Securities Trust
FRB Ser. 05-SD3, Class 1A	1.481	7/25/35	3,435,415	3,407,661
FRB Ser. 05-SD2, Class 1A3	1.391	3/25/35	819,038	815,639
Citigroup Mortgage Loan Trust 144A Ser. 13-11, Class 2A3	4.981	8/25/27	480,080	484,881
Citigroup Mortgage Loan Trust, Inc. FRB Ser. 06-WFH3, Class A4	1.231	10/25/36	929,018	915,083
Countrywide Asset-Backed Certificates Trust
FRB Ser. 05-16, Class 3AV	1.221	5/25/36	12,531,394	12,406,080
FRB Ser. 06-2, Class 1A1	1.191	6/25/36	8,854,142	8,781,435
CSMC Trust 144A FRB Ser. 14-5R, Class 6A1	1.132	10/27/36	4,784,597	4,790,142
First Franklin Mortgage Loan Trust FRB Ser. 06-FF1, Class 1A	1.211	1/25/36	3,327,593	3,312,930
GE-WMC Asset-Backed Pass-Through Certificates FRB Ser. 05-2, Class A1	1.216	12/25/35	7,307,638	7,237,937
GSAA Home Equity Trust FRB Ser. 05-6, Class A3	1.361	6/25/35	5,083,857	5,058,438
GSMSC Resecuritization Trust 144A FRB Ser. 09-6R, Class 3A1	3.040	2/26/36	2,853,126	2,898,244
Long Beach Mortgage Loan Trust FRB Ser. 06-WL3, Class 2A3	1.191	1/25/36	2,354,721	2,368,807
Merrill Lynch Mortgage Investors Trust FRB Ser. 06-FF1, Class M2	1.281	8/25/36	10,000,000	9,959,667
Morgan Stanley Mortgage Loan Trust FRB Ser. 05-6AR, Class 1A2	1.261	11/25/35	74,731	74,590
Opteum Mortgage Acceptance Corp. Asset Backed Pass-Through Certificates FRB Ser. 05-1, Class M3	1.846	2/25/35	2,139,000	2,141,974
Opteum Mortgage Acceptance Corp. Trust FRB Ser. 05-4, Class 1A1C	1.401	11/25/35	1,357,480	1,351,099
Park Place Securities, Inc. FRB Ser. 05-WHQ2, Class M1	1.621	5/25/35	2,038,436	2,041,148
Residential Asset Mortgage Products Trust FRB Ser. 05-EFC2, Class M3	1.726	7/25/35	1,323,550	1,323,171
Residential Asset Mortgage Products, Inc. Trust FRB Ser. 06-RZ4, Class A2	1.171	10/25/36	5,996,122	5,985,473
Residential Asset Securities Corp., Trust FRB Ser. 05-KS11, Class M1	1.391	12/25/35	2,700,000	2,659,929
				87,997,893
Total mortgage-backed securities (cost $159,553,600)				$160,186,204
ASSET-BACKED COMMERCIAL PAPER (3.2%)(a)
	Yield (%)	Maturity date	Principal amount	Value
CAFCO, LLC	1.187	8/8/17	$25,000,000	$24,928,175
CHARTA, LLC	1.309	7/11/17	25,750,000	25,690,613
Gotham Funding Corp. (Japan)	1.194	6/27/17	20,000,000	19,964,667
LMA-Americas, LLC (France)	1.134	6/1/17	14,000,000	13,986,791
LMA-Americas, LLC (France)	1.164	5/15/17	2,150,000	2,149,056
Manhattan Asset Funding Co., LLC (Japan)	1.051	5/18/17	5,000,000	4,997,375
Matchpoint Finance PLC (Ireland)	1.390	7/6/17	18,000,000	17,959,739
MetLife Short Term Funding, LLC	1.022	7/17/17	12,000,000	11,970,934
Old Line Funding, LLC 144A	0.955	5/12/17	25,000,000	25,004,700
Old Line Funding, LLC 144A	1.225	8/15/17	10,000,000	9,963,848
Sheffield Receivables Co. LLC (United Kingdom)	1.307	6/30/17	20,000,000	19,953,836
Thunder Bay Funding, LLC	1.047	6/12/17	15,000,000	15,007,605
Victory Receivables Corp. (Japan)	1.194	7/6/17	5,000,000	4,987,666
Total asset-backed commercial paper (cost $196,536,217)				$196,565,005
ASSET-BACKED SECURITIES (0.8%)(a)
	Interest rate (%)	Maturity date	Principal amount	Value
Mortgage Repurchase Agreement Financing Trust 144A FRB Ser. 16-5, Class A	2.159	6/10/19	$25,000,000	$25,000,000
Station Place Securitization Trust 144A FRB Ser. 17-1, Class A	1.891	2/25/49	23,451,000	23,451,000
Total asset-backed securities (cost $48,451,000)				$48,451,000
U.S. GOVERNMENT AND AGENCY MORTGAGE OBLIGATIONS (—%)(a)
	Interest rate (%)	Maturity date	Principal amount	Value
U.S. Government Guaranteed Mortgage Obligations (—%)
Government National Mortgage Association Pass-Through Certificates	4.500	10/15/19	$35,214	$36,068
Government National Mortgage Association Pass-Through Certificates	4.500	5/15/18	20,408	20,687
				56,755
U.S. Government Agency Mortgage Obligations (—%)
Federal Home Loan Mortgage Corporation	4.500	10/1/18	6,933	7,020
Federal Home Loan Mortgage Corporation Pass-Through Certificates	6.500	3/1/19	27,838	31,015
Federal Home Loan Mortgage Corporation Pass-Through Certificates	6.500	6/1/17	1,711	1,714
Federal Home Loan Mortgage Corporation Pass-Through Certificates	6.000	2/1/19	1,151	1,154
Federal Home Loan Mortgage Corporation Pass-Through Certificates	6.000	9/1/17	13,552	13,627
Federal Home Loan Mortgage Corporation Pass-Through Certificates	6.000	7/1/17	9,030	9,063
Federal Home Loan Mortgage Corporation Pass-Through Certificates	6.000	6/1/17	2,611	2,616
Federal Home Loan Mortgage Corporation Pass-Through Certificates	5.500	11/1/18	14,854	15,070
Federal Home Loan Mortgage Corporation Pass-Through Certificates	5.500	4/1/18	13,387	13,543
Federal Home Loan Mortgage Corporation Pass-Through Certificates	5.000	5/1/21	40,081	41,480
Federal Home Loan Mortgage Corporation Pass-Through Certificates	5.000	11/1/19	39,140	40,187
Federal Home Loan Mortgage Corporation Pass-Through Certificates	5.000	5/1/18	8,496	8,618
Federal Home Loan Mortgage Corporation Pass-Through Certificates	5.000	3/1/18	10,260	10,534
Federal Home Loan Mortgage Corporation Pass-Through Certificates	5.000	2/1/18	8,988	9,228
Federal Home Loan Mortgage Corporation Pass-Through Certificates	4.500	8/1/18	17,139	17,547
Federal National Mortgage Association Pass-Through Certificates	6.500	12/1/19	6,928	7,073
Federal National Mortgage Association Pass-Through Certificates	6.500	8/1/17	2,215	2,218
Federal National Mortgage Association Pass-Through Certificates	6.000	5/1/23	24,043	25,548
Federal National Mortgage Association Pass-Through Certificates	6.000	9/1/19	1,497	1,513
Federal National Mortgage Association Pass-Through Certificates	6.000	9/1/18	11,736	12,008
Federal National Mortgage Association Pass-Through Certificates	6.000	12/1/17	4,555	4,584
Federal National Mortgage Association Pass-Through Certificates	5.500	11/1/23	36,356	37,674
Federal National Mortgage Association Pass-Through Certificates	5.500	6/1/20	44,419	45,671
Federal National Mortgage Association Pass-Through Certificates	5.500	11/1/18	18,642	18,876
Federal National Mortgage Association Pass-Through Certificates	5.500	4/1/18	19,347	19,589
Federal National Mortgage Association Pass-Through Certificates	5.000	11/1/19	41,627	42,820
				439,990
Total U.S. government and agency mortgage obligations (cost $515,961)				$496,745
TOTAL INVESTMENTS
Total investments (cost $6,116,775,066)(b)				$6,124,457,461

Key to holding's abbreviations
BKNT	Bank Note
EMTN	Euro Medium Term Notes
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 or yield at the close of the reporting period
GMTN	Global Medium Term Notes
MTN	Medium Term Notes
PO	Principal Only

	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, 2016 through April 30, 2017 (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 $6,073,052,874.
(b)	The aggregate identified cost on a tax basis is $6,116,775,066, resulting in gross unrealized appreciation and depreciation of $8,499,807 and $817,412, respectively, or net unrealized appreciation of $7,682,395.
(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 of 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	66.3%
	Canada	6.9
	United Kingdom	5.9
	Australia	5.2
	Netherlands	4.6
	Sweden	2.7
	Japan	2.1
	France	1.6
	Luxembourg	1.1
	Germany	1.0
	Denmark	0.9
	Spain	0.7
	Norway	0.5
	Other	0.5
	Total	100.0%
	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.
	Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) 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 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, 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.
	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. 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.
	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 fair 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	$—	$196,565,005	$—
Asset-backed securities	—	48,451,000	—
Certificates of deposit	—	338,939,960	—
Commercial paper	—	2,573,139,234	—
Corporate bonds and notes	—	2,806,679,313	—
Mortgage-backed securities	—	160,186,204	—
U.S. government and agency mortgage obligations	—	496,745	—
Totals by level	$—	$6,124,457,461	$—
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. Transfers are accounted for using the end of period pricing valuation method.
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, 2017

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, 2017

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Financial Officer
Date: June 27, 2017