NPORT-EX 2 PFEF.htm PART F
Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
39115-Q3PH
1
Schedule
of
Investments
(unaudited)
Putnam
Focused
Equity
Fund
2
Notes
to
Schedule
of
Investments
6
Putnam
Funds
Trust
Schedule
of
Investments
(unaudited),
May
31,
2025
Putnam
Focused
Equity
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
2
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
98.8%
Aerospace
&
Defense
1.6%
Airbus
SE
.........................................
France
55,080
$
10,130,566
Air
Freight
&
Logistics
0.9%
FedEx
Corp.
.......................................
United
States
26,200
5,714,220
Automobiles
1.5%
a
Tesla,
Inc.
.........................................
United
States
27,884
9,660,691
Banks
2.4%
Citigroup,
Inc.
......................................
United
States
208,668
15,716,874
Beverages
2.3%
Coca-Cola
Co.
(The)
.................................
United
States
208,809
15,055,129
Broadline
Retail
5.2%
a
Amazon.com,
Inc.
...................................
United
States
165,697
33,969,542
Capital
Markets
3.5%
Charles
Schwab
Corp.
(The)
...........................
United
States
254,294
22,464,332
Chemicals
2.1%
b
Corteva,
Inc.
.......................................
United
States
190,300
13,473,240
Communications
Equipment
1.4%
Cisco
Systems,
Inc.
.................................
United
States
141,335
8,909,758
Consumer
Finance
2.1%
Capital
One
Financial
Corp.
...........................
United
States
71,762
13,573,782
Consumer
Staples
Distribution
&
Retail
3.5%
Walmart,
Inc.
......................................
United
States
227,635
22,472,127
Electric
Utilities
2.3%
NextEra
Energy,
Inc.
.................................
United
States
213,700
15,095,768
Entertainment
2.1%
a
Netflix,
Inc.
........................................
United
States
11,389
13,749,143
Financial
Services
1.5%
Apollo
Global
Management,
Inc.
........................
United
States
75,565
9,875,590
Ground
Transportation
1.6%
b
Canadian
Pacific
Kansas
City
Ltd.
.......................
Canada
131,000
10,696,150
Health
Care
Equipment
&
Supplies
3.0%
a
Intuitive
Surgical,
Inc.
................................
United
States
35,700
19,718,538
Health
Care
Providers
&
Services
2.0%
UnitedHealth
Group,
Inc.
..............................
United
States
43,800
13,223,658
Hotels,
Restaurants
&
Leisure
2.5%
Booking
Holdings,
Inc.
...............................
United
States
2,367
13,063,307
Hilton
Worldwide
Holdings,
Inc.
.........................
United
States
12,215
3,034,695
16,098,002
Insurance
4.7%
AIA
Group
Ltd.
.....................................
Hong
Kong
1,933,600
16,095,534
American
International
Group,
Inc.
......................
United
States
84,820
7,179,165
AXA
SA
...........................................
France
151,442
7,138,306
30,413,005
Interactive
Media
&
Services
8.0%
Alphabet,
Inc.,
A
....................................
United
States
133,776
22,974,690
Meta
Platforms,
Inc.,
A
...............................
United
States
44,833
29,028,919
52,003,609
Putnam
Funds
Trust
Schedule
of
Investments
(unaudited)
Putnam
Focused
Equity
Fund
(continued)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
3
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
IT
Services
0.7%
Accenture
plc,
A
....................................
Ireland
14,910
$
4,723,786
Machinery
2.1%
Otis
Worldwide
Corp.
................................
United
States
141,337
13,476,483
Office
REITs
0.9%
Vornado
Realty
Trust
.................................
United
States
150,807
5,680,900
Oil,
Gas
&
Consumable
Fuels
3.2%
Exxon
Mobil
Corp.
...................................
United
States
206,600
21,135,180
Passenger
Airlines
1.3%
Ryanair
Holdings
plc,
ADR
............................
Italy
147,850
8,220,460
Pharmaceuticals
5.7%
AstraZeneca
plc,
ADR
................................
United
Kingdom
184,600
13,444,418
Eli
Lilly
&
Co.
......................................
United
States
31,500
23,236,605
36,681,023
Semiconductors
&
Semiconductor
Equipment
11.4%
Analog
Devices,
Inc.
.................................
United
States
43,280
9,261,054
Broadcom,
Inc.
.....................................
United
States
87,286
21,129,322
NVIDIA
Corp.
......................................
United
States
326,987
44,185,753
74,576,129
Software
9.8%
Microsoft
Corp.
.....................................
United
States
138,900
63,944,004
Specialty
Retail
1.8%
Home
Depot,
Inc.
(The)
...............................
United
States
31,080
11,446,453
Technology
Hardware,
Storage
&
Peripherals
7.0%
Apple,
Inc.
........................................
United
States
169,498
34,043,673
Seagate
Technology
Holdings
plc
.......................
United
States
98,779
11,649,995
45,693,668
Textiles,
Apparel
&
Luxury
Goods
0.7%
a
Lululemon
Athletica,
Inc.
..............................
United
States
15,355
4,862,468
Total
Common
Stocks
(Cost
$445,129,129)
...................................
642,454,278
Short
Term
Investments
2.5%
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
a
U.S.
Government
and
Agency
Securities
0.4%
c,d
U.S.
Treasury
Bills
,
4.18%,
10/02/25
...................................
United
States
1,400,000
1,380,118
4.18%,
11/06/25
...................................
United
States
1,400,000
1,374,594
2,754,712
Total
U.S.
Government
and
Agency
Securities
(Cost
$2,755,192)
................
2,754,712
Shares
Money
Market
Funds
1.4%
e,f
Putnam
Short
Term
Investment
Fund,
Class
P,
4.555%
.......
United
States
9,184,143
9,184,143
Total
Money
Market
Funds
(Cost
$9,184,143)
.................................
9,184,143
Putnam
Funds
Trust
Schedule
of
Investments
(unaudited)
Putnam
Focused
Equity
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
4
At
May
31,
2025,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
Short
Term
Investments
(continued)
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
0.7%
Money
Market
Funds
0.7%
e,f
Putnam
Cash
Collateral
Pool,
LLC,
4.599%
................
United
States
4,588,225
$
4,588,225
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$4,588,225)
..........................................................
4,588,225
Total
Short
Term
Investments
(Cost
$16,527,560
)
..............................
16,527,080
a
Total
Investments
(Cost
$461,656,689)
101.3%
................................
$658,981,358
Other
Assets,
less
Liabilities
(1.3)%
.........................................
(8,501,846)
Net
Assets
100.0%
.........................................................
$650,479,512
a
a
a
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
Non-income
producing.
b
A
portion
or
all
of
the
security
is
on
loan
at
May
31,
2025.
c
The
rate
shown
represents
the
yield
at
period
end.
d
A
portion
or
all
of
the
security
has
been
segregated
as
collateral
for
certain
derivative
contracts.
At
May
31,
2025,
the
aggregate
value
of
these
securities
pledged
amounted
to
$2,355,556,
representing
0.4%
of
net
assets.
e
See
Note
3
regarding
investments
in
affiliated
management
investment
companies.
f
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Forward
Exchange
Contracts
Currency
Counter-
party
a
Type
Quantity
Contract
Amount
*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
British
Pound
......
GSCO
Sell
2,323,600
2,980,979
6/18/25
$
—
$
(149,941)
British
Pound
......
MSCO
Sell
704,500
904,724
6/18/25
—
(44,550)
British
Pound
......
SSBT
Buy
1,322,600
1,687,296
6/18/25
94,833
—
British
Pound
......
SSBT
Sell
5,235,400
6,711,573
6/18/25
—
(342,832)
British
Pound
......
TDOM
Sell
1,958,900
2,511,412
6/18/25
—
(128,095)
British
Pound
......
WPAC
Sell
733,000
940,457
6/18/25
—
(47,219)
Euro
.............
BOFA
Buy
261,800
293,520
6/18/25
4,021
—
Euro
.............
BZWS
Buy
740,800
840,124
6/18/25
1,809
—
Euro
.............
BZWS
Sell
618,100
665,598
6/18/25
—
(36,884)
Euro
.............
CITI
Sell
7,948,800
8,558,279
6/18/25
—
(
475,680)
Euro
.............
JPHQ
Buy
3,144,400
3,446,948
6/18/25
126,721
—
Euro
.............
MSCO
Buy
2,991,000
3,358,854
6/18/25
40,473
—
Euro
.............
MSCO
Sell
11,001,700
11,921,172
6/18/25
—
(582,464)
Euro
.............
SSBT
Buy
3,653,700
4,095,823
6/18/25
65,116
(8,442)
Euro
.............
SSBT
Sell
11,375,100
12,248,594
6/18/25
—
(679,419)
Euro
.............
WPAC
Buy
881,000
1,004,765
6/18/25
—
(3,492)
Euro
.............
WPAC
Sell
1,863,600
2,103,205
6/18/25
—
(14,811)
Canadian
Dollar
....
BOFA
Sell
859,600
603,859
7/16/25
—
(23,919)
Canadian
Dollar
....
CITI
Sell
471,600
331,233
7/16/25
—
(13,184)
Canadian
Dollar
....
GSCO
Buy
2,431,900
1,718,313
7/16/25
57,738
—
Canadian
Dollar
....
GSCO
Sell
2,891,300
2,030,708
7/16/25
—
(80,850)
Canadian
Dollar
....
MSCO
Buy
6,988,400
5,098,133
7/16/25
5,597
—
Canadian
Dollar
....
MSCO
Sell
4,675,000
3,283,494
7/16/25
—
(130,726)
Putnam
Funds
Trust
Schedule
of
Investments
(unaudited)
Putnam
Focused
Equity
Fund
(continued)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
5
See
Abbreviations
on
page
9
.
Forward
Exchange
Contracts
(continued)
Currency
Counter-
party
a
Type
Quantity
Contract
Amount*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
(continued)
Canadian
Dollar
....
SSBT
Sell
4,788,600
3,363,514
7/16/25
$
—
$
(133,671)
Canadian
Dollar
....
UBSW
Sell
7,858,800
5,519,867
7/16/25
—
(219,529)
Canadian
Dollar
....
WPAC
Sell
3,171,800
2,285,032
7/16/25
—
(31,380)
Hong
Kong
Dollar
...
BOFA
Sell
21,592,500
2,787,946
8/20/25
16,807
—
Hong
Kong
Dollar
...
CITI
Sell
30,943,900
3,997,672
8/20/25
26,393
—
Hong
Kong
Dollar
...
HSBK
Sell
19,361,900
2,499,677
8/20/25
14,810
—
Hong
Kong
Dollar
...
JPHQ
Sell
13,820,600
1,784,060
8/20/25
10,352
—
Hong
Kong
Dollar
...
MSCO
Sell
16,141,300
2,083,515
8/20/25
11,972
—
Hong
Kong
Dollar
...
WPAC
Sell
12,290,200
1,587,174
8/20/25
9,874
—
Total
Forward
Exchange
Contracts
...................................................
$486,516
$(3,147,088)
Net
unrealized
appreciation
(depreciation)
............................................
$(2,660,572)
*
In
U.S.
dollars
unless
otherwise
indicated.
a
May
be
comprised
of
multiple
contracts
with
the
same
counterparty,
currency
and
settlement
date.
Putnam
Funds
Trust
Notes
to
Schedule
of
Investments
(unaudited)
6
Quarterly
Schedule
of
Investments
1.
Organization
Putnam
Funds
Trust (Trust)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company,
consisting
of sixteen
separate
funds,
one
of
which is
included
in
this
report
(Fund).
The Fund
follows
the
accounting
and
reporting
guidance
in
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
–
Investment
Companies
(ASC
946)
and
applies
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP),
including,
but
not
limited
to,
ASC
946.
2. Financial
Instrument
Valuation
The
Fund's investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Fund
calculates the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the Fund's
Board
of
Trustees
(the
Board),
the
Board
has
designated
the
Fund's
investment
manager
as
the
valuation
designee
and
has
responsibility
for
oversight
of
valuation.
The
investment
manager
is
assisted
by
the
Fund's administrator
in
performing
this responsibility,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Fund
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value.
Equity
securities
and
derivative
financial instruments listed
on
an
exchange
or
on
the
NASDAQ
National
Market
System
are
valued
at
the
last
quoted
sale
price
or
the
official
closing
price of
the
day,
respectively.
Foreign
equity
securities
are
valued
as
of
the
close
of
trading
on
the
foreign
stock
exchange
on
which
the
security
is
primarily
traded
or
as
of
4
p.m.
Eastern
time.
The
value
is
then
converted
into
its
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m.
Eastern
time
on
the
day
that
the
value
of
the
security
is
determined.
Over-the-counter
(OTC)
securities
are
valued
within
the
range
of
the
most
recent
quoted
bid
and
ask
prices.
Securities
that
trade
in
multiple
markets
or
on
multiple
exchanges
are
valued
according
to
the
broadest
and
most
representative
market.
Certain
equity
securities
are
valued
based
upon
fundamental
characteristics
or
relationships
to
similar
securities. 
Debt
securities
generally
trade
in
the
OTC market
rather
than
on
a
securities
exchange.
The Fund's
pricing
services
use
multiple
valuation
techniques
to
determine
fair
value.
In
instances
where
sufficient
market
activity
exists,
the
pricing
services
may
utilize
a
market-based
approach
through
which
quotes
from
market
makers
are
used
to
determine
fair
value.
In
instances
where
sufficient
market
activity
may
not
exist
or
is
limited,
the
pricing
services
also
utilize
proprietary
valuation
models
which
may
consider
market
characteristics
such
as
benchmark
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
anticipated
timing
of
principal
repayments,
underlying
collateral,
and
other
unique
security
features
in
order
to
estimate
the
relevant
cash
flows,
which
are
then
discounted
to
calculate
the
fair
value.
Investments
in
open-end
mutual
funds
are
valued
at
the
closing
NAV.
Certain
derivative
financial
instruments
trade
in
the
OTC
market.
The Fund’s
pricing
services
use
various
techniques
including
industry
standard
option
pricing
models
and
proprietary
discounted
cash
flow
models
to
determine
the
fair
value
of
those
instruments.
The Fund’s
net
benefit
or
obligation
under
the
derivative
contract,
as
measured
by
the
fair
value
of
the
contract,
is
included
in
net
assets. 
The
Fund
has procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Fund
primarily employs
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
future
cash
flows
of
the
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed. 
Putnam
Funds
Trust
Notes
to
Schedule
of
Investments
(unaudited)
7
Quarterly
Schedule
of
Investments
Trading
in
securities
on
foreign
securities
stock
exchanges
and
OTC
markets
may
be
completed
before
4
p.m.
Eastern
time.
In
addition,
trading
in
certain
foreign
markets
may
not
take
place
on
every
Fund’s
business
day.
Events
can
occur
between
the
time
at
which
trading
in
a
foreign
security
is
completed
and
4
p.m.
Eastern
time
that
might
call
into
question
the
reliability
of
the
value
of
a
portfolio
security
held
by
the
Fund.
As
a
result,
differences
may
arise
between
the
value
of
the
Fund’s
portfolio securities
as
determined
at
the
foreign
market
close
and
the
latest
indications
of
value
at
4
p.m.
Eastern
time.
In
order
to
minimize
the
potential
for
these
differences,
an
independent
pricing
service
may
be
used
to
adjust
the
value
of
the
Fund's
portfolio
securities
to
the
latest
indications
of
fair
value
at 4
p.m.
Eastern
time.
At
May
31,
2025,
certain
securities
may
have
been
fair
valued
using
these
procedures,
in
which
case
the
securities
were
categorized
as
Level
2
within
the
fair
value
hierarchy
(referred
to
as
"market
level
fair
value").
See
the
Fair
Value
Measurements
note
for
more
information.
When
the
last
day
of
the
reporting
period
is
a
non-business
day,
certain
foreign
markets
may
be
open
on
those
days
that
the
Fund’s
NAV
is
not
calculated,
which
could
result
in
differences
between
the
value
of
the
Fund’s
portfolio
securities
on
the
last
business
day
and
the
last
calendar
day
of
the
reporting
period.
Any
security
valuation
changes
due
to
an
open
foreign
market
are
adjusted
and
reflected
by
the
Fund for
financial
reporting
purposes.
3.
Investments
in
Affiliated
Management
Investment
Companies
The
Fund
invests
in
one
or
more
affiliated
management
investment
companies.
As
defined
in
the
1940
Act,
an
investment
is
deemed
to
be
a
"Controlled
Affiliate"
of
a
fund
when
a
fund
owns,
either
directly
or
indirectly,
25%
or
more
of
the
affiliated
fund's
outstanding
shares
or
has
the
power
to
exercise
control
over
management
or
policies
of
such
fund.
The
Fund
does
not
invest
for
purposes
of
exercising
a
controlling
influence
over
the
management
or
policies.
During
the
period
ended
May
31,
2025,
the
Fund
held
investments
in
affiliated
management
investment
companies
as
follows:
4. Fair
Value
Measurements
The
Fund
follows
a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the Fund's
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Fund's financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
    aa
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares
Held
at
End
of
Period
Investment
Income
a      
a  
a  
a  
a  
a  
a  
a  
Putnam
Focused
Equity
Fund
Non-Controlled
Affiliates
Dividends
Putnam
Short
Term
Investment
Fund,
Class
P,
4.555%
......
$9,222,699
$93,094,019
$(93,132,575)
$—
$—
$9,184,143
9,184,143
$353,502
Non-Controlled
Affiliates
Income
from
securities
loaned
Putnam
Cash
Collateral
Pool,
LLC,
4.599%
.............
$7,375,700
$199,311,316
$(202,098,791)
$—
$—
$4,588,225
4,588,225
$466,528
Total
Affiliated
Securities
...
$16,598,399
$292,405,335
$(295,231,366)
$—
$—
$13,772,368
$820,030
2. Financial
Instrument
Valuation
(continued)
Putnam
Funds
Trust
Notes
to
Schedule
of
Investments
(unaudited)
8
Quarterly
Schedule
of
Investments
Level
3
–
significant
unobservable
inputs
(including
the
Fund's
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
A
summary
of
inputs
used
as
of
May
31,
2025,
in
valuing
the
Fund's assets
and
liabilities carried
at
fair
value,
is
as
follows:
Level
1
Level
2
Level
3
Total
Putnam
Focused
Equity
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Aerospace
&
Defense
...................
$
—
$
10,130,566
$
—
$
10,130,566
Air
Freight
&
Logistics
...................
5,714,220
—
—
5,714,220
Automobiles
..........................
9,660,691
—
—
9,660,691
Banks
...............................
15,716,874
—
—
15,716,874
Beverages
...........................
15,055,129
—
—
15,055,129
Broadline
Retail
.......................
33,969,542
—
—
33,969,542
Capital
Markets
........................
22,464,332
—
—
22,464,332
Chemicals
...........................
13,473,240
—
—
13,473,240
Communications
Equipment
..............
8,909,758
—
—
8,909,758
Consumer
Finance
.....................
13,573,782
—
—
13,573,782
Consumer
Staples
Distribution
&
Retail
......
22,472,127
—
—
22,472,127
Electric
Utilities
........................
15,095,768
—
—
15,095,768
Entertainment
.........................
13,749,143
—
—
13,749,143
Financial
Services
......................
9,875,590
—
—
9,875,590
Ground
Transportation
..................
10,696,150
—
—
10,696,150
Health
Care
Equipment
&
Supplies
.........
19,718,538
—
—
19,718,538
Health
Care
Providers
&
Services
..........
13,223,658
—
—
13,223,658
Hotels,
Restaurants
&
Leisure
.............
16,098,002
—
—
16,098,002
Insurance
............................
7,179,165
23,233,840
—
30,413,005
Interactive
Media
&
Services
..............
52,003,609
—
—
52,003,609
IT
Services
...........................
4,723,786
—
—
4,723,786
Machinery
............................
13,476,483
—
—
13,476,483
Office
REITs
..........................
5,680,900
—
—
5,680,900
Oil,
Gas
&
Consumable
Fuels
.............
21,135,180
—
—
21,135,180
Passenger
Airlines
.....................
8,220,460
—
—
8,220,460
Pharmaceuticals
.......................
36,681,023
—
—
36,681,023
Semiconductors
&
Semiconductor
Equipment
.
74,576,129
—
—
74,576,129
Software
.............................
63,944,004
—
—
63,944,004
Specialty
Retail
........................
11,446,453
—
—
11,446,453
Technology
Hardware,
Storage
&
Peripherals
.
45,693,668
—
—
45,693,668
Textiles,
Apparel
&
Luxury
Goods
..........
4,862,468
—
—
4,862,468
Short
Term
Investments
...................
13,772,368
2,754,712
—
16,527,080
Total
Investments
in
Securities
...........
$622,862,240
$36,119,118
a
$—
$658,981,358
Other
Financial
Instruments:
Forward
Exchange
Contracts
...............
$—
$486,516
$—
$486,516
Total
Other
Financial
Instruments
.........
$—
$486,516
$—
$486,516
Liabilities:
Other
Financial
Instruments:
Forward
Exchange
Contracts
...............
$—
$3,147,088
$—
$3,147,088
Total
Other
Financial
Instruments
.........
$—
$3,147,088
$—
$3,147,088
a
Includes
foreign
securities
valued
at
$33,364,406,
which
were
categorized
as
Level
2
as
a
result
of
the
application
of
market
level
fair
value
procedures.
See
the
Financial
Instrument
Valuation
note
for
more
information.
4. Fair
Value
Measurements
(continued)
Putnam
Funds
Trust
Notes
to
Schedule
of
Investments
(unaudited)
9
Quarterly
Schedule
of
Investments
Abbreviations
Counterparty
BOFA
Bank
of
America
NA
BZWS
Barclays
Bank
plc
CITI
Citibank
NA
GSCO
Goldman
Sachs
Group,
Inc.
HSBK
HSBC
Bank
plc
JPHQ
JPMorgan
Chase
Bank
NA
MSCO
Morgan
Stanley
SSBT
State
Street
Bank
and
Trust
Co.
TDOM
Toronto
Dominion
Bank
UBSW
UBS
AG
WPAC
Westpac
Banking
Corp.
Selected
Portfolio
ADR
American
Depositary
Receipt
REIT
Real
Estate
Investment
Trust
For
additional
information
on
the
Fund's
significant
accounting
policies,
please
refer
to
the Fund's
most
recent
semiannual
or
annual
shareholder
report.