0000928816-13-000698.txt : 20130426 0000928816-13-000698.hdr.sgml : 20130426 20130426171430 ACCESSION NUMBER: 0000928816-13-000698 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130228 FILED AS OF DATE: 20130426 DATE AS OF CHANGE: 20130426 EFFECTIVENESS DATE: 20130426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/ CENTRAL INDEX KEY: 0000792288 IRS NUMBER: 046626127 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04518 FILM NUMBER: 13788332 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND II DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND /MA/ DATE OF NAME CHANGE: 19920609 0000792288 S000006210 PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND C000017118 Class C Shares C000017119 Class M Shares C000017120 Class A Shares PXMAX C000017121 Class B Shares PMABX C000060571 CLASS Y N-Q 1 a_mataxexemptinc.htm PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND a_mataxexemptinc.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY



Investment Company Act file number: (811-04518)
Exact name of registrant as specified in charter: Putnam Massachusetts Tax Exempt Income Fund
Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109
Name and address of agent for service: Robert T. Burns, Vice President
One Post Office Square
Boston, Massachusetts 02109
Copy to:         John W. Gerstmayr, Esq.
Ropes & Gray LLP
800 Boylston Street
Boston, Massachusetts 02199-3600
Registrant’s telephone number, including area code: (617) 292-1000
Date of fiscal year end: May 31, 2013
Date of reporting period: February 28, 2013



Item 1. Schedule of Investments:













Putnam Massachusetts Tax Exempt Income Fund

The fund's portfolio
2/28/13 (Unaudited)
Key to holding's abbreviations
AGM — Assured Guaranty Municipal Corporation
AGO — Assured Guaranty, Ltd.
AMBAC — AMBAC Indemnity Corporation
Cmnwlth. of PR Gtd. — Commonwealth of Puerto Rico Guaranteed
FGIC — Financial Guaranty Insurance Company
FRB — Floating Rate Bonds: the rate shown is the current interest rate at the close of the reporting period
G.O. Bonds — General Obligation Bonds
NATL — National Public Finance Guarantee Corp.
SGI — Syncora Guarantee, Inc.
VRDN — Variable Rate Demand Notes, which are floating-rate securities with long-term maturities, that carry coupons that reset every one or seven days. The rate shown is the current interest rate at the close of the reporting period.
MUNICIPAL BONDS AND NOTES (99.6%)(a)
Rating(RAT) Principal amount Value
California (0.8%)
CA State G.O. Bonds
     5 1/4s, 2/1/29 A1 $1,500,000 $1,802,265
     5s, 11/1/32 A1 1,500,000 1,676,385
3,478,650
Florida (0.7%)
FL State Board of Ed. G.O. Bonds (Capital Outlay 2011), Ser. F, 5s, 6/1/30 AAA 2,500,000 2,974,975
2,974,975
Guam (1.0%)
Territory of GU, Rev. Bonds, Ser. A, 5 3/8s, 12/1/24 BBB+ 1,000,000 1,099,040
Territory of GU, Bus. Privilege Tax Rev. Bonds, Ser. A, 5s, 1/1/31 A 1,650,000 1,859,072
Territory of GU, Govt. Wtr. Wks. Auth. Wtr. & Waste Wtr. Syst. Rev. Bonds, 5 5/8s, 7/1/40 Ba2 600,000 634,764
Territory of GU, Pwr. Auth. Rev. Bonds, Ser. A
     5 1/2s, 10/1/40 BBB 500,000 549,250
     5s, 10/1/34 BBB 200,000 219,440
4,361,566
Massachusetts (90.2%)
Andover, G.O. Bonds (Muni. Purpose Loan), Ser. A
     4s, 1/15/25 AAA 1,005,000 1,170,373
     4s, 1/15/24 AAA 1,005,000 1,183,076
Beverly, G.O. Bonds, 4s, 9/1/19 Aa2 1,560,000 1,820,224
Boston, G.O. Bonds
     Ser. A, 5s, 4/1/22 Aaa 1,750,000 2,243,763
     Ser. D, 4s, 10/1/24 Aaa 1,510,000 1,764,722
     Ser. D, 4s, 10/1/18 Aaa 1,215,000 1,420,687
     Ser. D, 4s, 10/1/17 Aaa 915,000 1,053,760
Boston, Indl. Dev. Fin. Auth. Swr. Fac. Rev. Bonds (Harbor Elec. Energy Co.), 7 3/8s, 5/15/15 Aa3 2,285,000 2,293,363
Boston, Wtr. & Swr. Comm. Rev. Bonds, Ser. A
     5 3/4s, 11/1/13 Aa1 710,000 735,943
     5s, 11/1/30 Aa1 500,000 599,505
     4s, 11/1/28 Aa1 2,000,000 2,203,540
Hampden & Wilbraham, Regl. School Dist. G.O. Bonds, 5s, 2/15/41 Aa3 2,000,000 2,209,380
Holyoke G.O. Bonds
     5s, 9/1/29 Aa2 770,000 906,791
     (State Qualified), 5s, 9/1/26 Aa2 1,815,000 2,184,280
Lowell, G.O. Bonds, Ser. A, SGI, 5s, 9/15/22 Aa2 1,750,000 1,921,693
MA Bay Trans. Auth. Rev. Bonds (Assmt.), Ser. A
     5 1/4s, 7/1/31 AAA 1,000,000 1,312,000
     5s, 7/1/23 AAA 2,000,000 2,509,860
MA Bay Trans. Auth. Sales Tax Rev. Bonds
     Ser. C, 5 1/2s, 7/1/16 AAA 2,855,000 3,323,705
     Ser. C, 5 1/2s, 7/1/16 (Escrowed to maturity) AAA/P 120,000 139,657
     Ser. C, 5 1/4s, 7/1/23 AAA 1,335,000 1,723,392
     Ser. A, 5s, 7/1/41 AAA 3,500,000 4,077,815
     Ser. A, 5s, 7/1/31 AAA 3,390,000 4,312,521
MA Dev. Fin. Agcy. Sr. Living Fac. Rev. Bonds (Groves-Lincoln), Ser. A, 7 7/8s, 6/1/44 (In default)(NON) D/P 1,650,000 786,753
MA Edl. Fin. Auth. Rev. Bonds
     Ser. B, 5.7s, 1/1/31 AA 1,985,000 2,172,225
     Ser. A, 5 1/2s, 1/1/22 AA 1,000,000 1,159,170
MA State G.O. Bonds
     (Cons. Loan), Ser. D, FGIC, 5 1/2s, 11/1/18 Aa1 3,970,000 4,952,377
     Ser. B, AGM, 5 1/4s, 9/1/24 Aa1 1,140,000 1,493,993
     Ser. A, AGM, 5 1/4s, 8/1/20 Aa1 2,540,000 3,219,475
     Ser. C, AMBAC, 5s, 8/1/37 Aa1 2,000,000 2,288,120
     (Construction Loan), Ser. A, 5s, 8/1/27 Aa1 2,000,000 2,329,340
     Ser. D, 5s, 10/1/26 Aa1 2,000,000 2,435,280
     Ser. A, 5s, 4/1/26 Aa1 1,000,000 1,206,040
     Ser. B, 5s, 8/1/20 Aa1 1,695,000 2,116,055
MA State VRDN (Construction Loan), Ser. A, 0.1s, 3/1/26 VMIG1 6,900,000 6,900,000
MA State College Bldg. Auth. Rev. Bonds
     Ser. B, SGI, 5 1/2s, 5/1/28 Aa2 4,000,000 5,193,440
     Ser. B, 5s, 5/1/43 Aa2 3,100,000 3,539,704
     Ser. B, 5s, 5/1/37 Aa2 1,500,000 1,734,660
     Ser. A, 5s, 5/1/36 Aa2 2,850,000 3,315,662
     Ser. A, AGO, 5s, 5/1/28 Aa2 2,270,000 2,623,643
MA State Dept. Trans. Rev. Bonds (Metro Hwy. Syst.), Ser. B
     5s, 1/1/37 A+ 2,250,000 2,486,205
     5s, 1/1/32 A+ 2,775,000 3,114,993
MA State Dev. Fin. Agcy. Rev. Bonds
     (Sabis Intl.), Ser. A, 8s, 4/15/39 BBB 775,000 951,506
     (Tufts Med. Ctr.), Ser. I, 7 1/4s, 1/1/32 BBB 2,000,000 2,507,640
     (Linden Ponds, Inc. Fac.), Ser. A-1, 6 1/4s, 11/15/46 B-/P 1,347,179 1,020,151
     (Linden Ponds, Inc. Fac.), Ser. A-1, 6 1/4s, 11/15/39 B-/P 423,099 327,876
     (WGBH Edl. Foundation), Ser. A, AMBAC, 5 3/4s, 1/1/42 A 5,000,000 6,509,950
     (Boston Biomedical Research), 5 3/4s, 2/1/29 B 1,750,000 1,739,080
     (Hampshire College), 5.7s, 10/1/34 Baa2 1,315,000 1,355,791
     (Hampshire College), 5 5/8s, 10/1/24 Baa2 1,000,000 1,041,880
     (Linden Ponds, Inc. Fac.), Ser. A-2, 5 1/2s, 11/15/46 B-/P 94,100 63,406
     (Emerson College), Ser. A, 5 1/2s, 1/1/30 Baa1 900,000 1,006,038
     (Berklee College of Music), 5 1/4s, 10/1/41 A2 1,500,000 1,677,600
     (New England Conservatory of Music), 5 1/4s, 7/1/38 Baa1 3,000,000 3,213,630
     (Simmons College), Ser. H, SGI, 5 1/4s, 10/1/33 Baa1 4,000,000 4,474,360
     (Lesley U.), Ser. B-1, AGM, 5 1/4s, 7/1/33 AA- 2,000,000 2,247,640
     (Wheelock College), Ser. C, 5 1/4s, 10/1/29 BBB 2,400,000 2,556,144
     (Carleton-Willard Village), 5 1/4s, 12/1/25 A- 700,000 770,728
     (Suffolk U.), 5 1/8s, 7/1/40 Baa2 1,500,000 1,652,100
     (Middlesex School), 5 1/8s, 9/1/23 A1 1,000,000 1,011,060
     (Emerson College), Ser. A, 5s, 1/1/40 Baa1 3,400,000 3,647,214
     (Brandeis U.), Ser. N, 5s, 10/1/39 A1 450,000 482,949
     (Boston College), Ser. P, 5s, 7/1/38 Aa3 2,000,000 2,223,520
     (Southcoast Hlth. Syst. Oblig. Group), Ser. F, 5s, 7/1/37 A2 1,000,000 1,118,850
     (Brandeis U.), Ser. 0-1, 5s, 10/1/35 A1 1,000,000 1,097,210
     (Merrimack College), Ser. A, 5s, 7/1/32 Baa3 750,000 829,988
     (Northeastern U.), 5s, 10/1/31 A2 500,000 574,580
     (MA College Pharmacy Allied), Ser. E, AGO, 5s, 7/1/31 AA- 2,000,000 2,187,260
     (Partners Hlth. Care Syst.), Ser. L, 5s, 7/1/31 Aa2 4,495,000 5,224,449
     (Boston U.), Ser. V-1, 5s, 10/1/29 A1 2,000,000 2,218,060
     (Boston College), Ser. Q-1, 5s, 7/1/29 Aa3 1,050,000 1,203,909
     (Mount Holyoke College), 5s, 7/1/28 Aa3 3,000,000 3,457,080
     (Holy Cross College), Ser. B, 5s, 9/1/25 Aa3 1,500,000 1,764,375
     (MA College of Pharmacy & Allied Hlth. Science), Ser. F, 5s, 7/1/25 A2 650,000 785,174
     (MA College of Pharmacy & Allied Hlth. Science), Ser. F, 5s, 7/1/23 A2 125,000 153,528
     (First Mtge. - Orchard Cove), 5s, 10/1/19 BB/P 550,000 559,867
     (First Mtge. - Orchard Cove), 5s, 10/1/18 BB/P 515,000 525,449
     (Linden Ponds, Inc. Fac.), Ser. B, zero %, 11/15/56 B-/P 468,041 6,730
     (WGBH Edl. Foundation), Ser. B, AGO, zero %, 1/1/29 AA- 2,000,000 1,144,340
     (WGBH Edl. Foundation), Ser. B, AGO, zero %, 1/1/28 AA- 2,000,000 1,201,080
MA State Dev. Fin. Agcy. VRDN (Boston U.), Ser. U-6C, 0.09s, 10/1/42 VMIG1 3,300,000 3,300,000
MA State Dev. Fin. Agcy. Resource Recvy. Rev. Bonds (Covanta Holding Corp.), Ser. C, 5 1/4s, 11/1/42 Ba2 1,750,000 1,824,620
MA State Dev. Fin. Agcy. Solid Waste Disp. FRB (Dominion Energy Brayton Point), 5s, 2/1/36 A- 1,000,000 1,054,640
MA State Dev. Fin. Agcy. Solid Waste Disp. Mandatory Put Bonds (5/1/19) (Dominion Energy Brayton), Ser. 1, 5 3/4s, 12/1/42 A- 1,700,000 2,082,908
MA State Edl. Fin. Auth. Rev. Bonds, Ser. J, 5 5/8s, 7/1/28 AA 1,000,000 1,109,530
MA State Hlth. & Edl. Fac. Auth. Rev. Bonds
     (Quincy Med. Ctr.), Ser. A, 6 1/2s, 1/15/38 (In default)(NON) D/P 212,305 212
     (Harvard U.), Ser. N, 6 1/4s, 4/1/20 Aaa 5,000,000 6,659,100
     (Suffolk U.), Ser. A, 5 3/4s, 7/1/39 Baa2 3,000,000 3,414,330
     (Baystate Med. Ctr.), Ser. I, 5 3/4s, 7/1/36 A+ 2,000,000 2,217,240
     (Springfield College), 5 5/8s, 10/15/40 Baa1 2,000,000 2,210,300
     (Harvard U.), Ser. A, 5 1/2s, 11/15/36 Aaa 2,185,000 2,632,444
     (Milton Hosp.), Ser. D, 5 3/8s, 7/1/35 BB- 2,065,000 2,122,159
     (Jordan Hosp.), Ser. D, 5 3/8s, 10/1/28 BB- 3,000,000 3,000,870
     (Care Group), Ser. B-1, NATL, 5 3/8s, 2/1/27 A3 1,030,000 1,185,015
     (Care Group), Ser. B-2, NATL, 5 3/8s, 2/1/27 A3 1,000,000 1,150,500
     (Boston College), Ser. K, 5 3/8s, 6/1/14 Aa3 1,575,000 1,596,719
     (Lesley U.), Ser. A, AGO, 5 1/4s, 7/1/39 AA- 1,000,000 1,104,400
     (Winchester Hosp.), 5 1/4s, 7/1/38 BBB+ 3,225,000 3,586,619
     (Lahey Clinic Med. Ctr.), Ser. D, 5 1/4s, 8/15/28 A+ 3,000,000 3,233,490
     (Dana-Farber Cancer Inst.), Ser. K, 5 1/4s, 12/1/27 A1 2,500,000 2,811,250
     (MA Inst. of Tech.), Ser. I-1, 5.2s, 1/1/28 Aaa 10,000,000 13,670,000
     (Care Group), Ser. E-1, 5 1/8s, 7/1/38 A3 1,000,000 1,114,710
     (Fisher College), Ser. A, 5 1/8s, 4/1/37 BBB- 755,000 767,020
     (Lowell Gen. Hosp.), Ser. C, 5 1/8s, 7/1/35 BBB+ 725,000 770,610
     (Wheaton Coll.), Ser. F, 5s, 1/1/41 A2 3,700,000 4,020,013
     (Partners Hlth. Care Syst.), Ser. J-1, 5s, 7/1/39 Aa2 1,500,000 1,650,660
     (Southcoast Hlth. Oblig.), Ser. D, 5s, 7/1/39 A2 1,500,000 1,595,040
     (Harvard U.), Ser. B, 5s, 10/1/38 Aaa 500,000 571,335
     (MA Inst. of Tech.), Ser. A, 5s, 7/1/38 Aaa 2,250,000 2,554,088
     (Berklee College of Music), Ser. A, 5s, 10/1/37 A2 2,750,000 2,998,023
     (Milford Regl. Med.), Ser. E, 5s, 7/15/37 Baa3 850,000 863,252
     (Sterling & Francine Clark), Ser. A, 5s, 7/1/36 AA 1,000,000 1,082,850
     (Northeastern U.), Ser. A, 5s, 10/1/35 A2 300,000 334,131
     (Harvard U.), 5s, 7/15/35 Aaa 2,750,000 3,005,338
     (Milford Regl. Med.), Ser. E, 5s, 7/15/32 Baa3 1,175,000 1,199,828
     (Northeastern U.), Ser. T-1, 5s, 10/1/30 A2 1,000,000 1,156,310
     (Northeastern U.), Ser. T-2, 5s, 10/1/30 A2 2,000,000 2,312,620
     (Care Group), Ser. E-1, 5s, 7/1/28 A3 1,730,000 1,912,411
     (Northeastern U.), Ser. R, 5s, 10/1/26 A2 1,165,000 1,317,533
     (Worcester City Campus Corp.), Ser. E, FGIC, NATL, 5s, 10/1/26 AA- 2,000,000 2,200,740
     (Milford Regl. Med.), Ser. E, 5s, 7/15/22 Baa3 1,800,000 1,907,496
     (Fisher College), Ser. A, 5s, 4/1/22 BBB- 1,110,000 1,167,487
MA State Hlth. & Edl. Fac. Auth. VRDN
     (Children's Hosp.), Ser. N-4, 0.1s, 10/1/49 VMIG1 5,100,000 5,100,000
     (Tufts U.), Ser. N-2, 0.09s, 8/15/34 VMIG1 3,400,000 3,400,000
     (Wellesley College), Ser. G, 0.08s, 7/1/39 VMIG1 1,300,000 1,300,000
     (Wellesley College), Ser. I, 0.08s, 7/1/39 VMIG1 2,450,000 2,450,000
     (Baystate Med. Ctr.), Ser. G, 0.08s, 7/1/26 VMIG1 4,000,000 4,000,000
     (Partners Hlth. Care Syst.), Ser. D-5, 0.08s, 7/1/17 VMIG1 1,700,000 1,700,000
MA State Hsg. Fin. Agcy. FRB (Single Fam. Hsg.), Ser. 126, 4.7s, 6/1/38 Aa2 1,225,000 1,232,963
MA State Hsg. Fin. Agcy. Rev. Bonds
     Ser. C, 5.35s, 12/1/42 Aa3 1,500,000 1,603,710
     (Single Fam.), Ser. 139, 5 1/8s, 12/1/28 Aa2 1,000,000 1,065,280
     Ser. A, 5.1s, 12/1/30 Aa3 2,500,000 2,655,675
     Ser. D, 5.05s, 6/1/40 Aa3 1,560,000 1,650,433
     Ser. 157, 4.35s, 12/1/27 Aa2 2,210,000 2,294,555
     Ser. 160, 3 3/4s, 6/1/34 Aa2 1,000,000 1,052,840
     Ser. A, 3 1/2s, 12/1/31 Aa3 2,000,000 2,029,680
     Ser. A, 3 1/4s, 12/1/27 Aa3 1,870,000 1,896,517
MA State Indl. Fin. Agcy. Rev. Bonds (1st Mtge. Berkshire Retirement), Ser. A, 6 5/8s, 7/1/16 BBB 2,205,000 2,215,231
MA State Port Auth. Rev. Bonds
     Ser. A, 5s, 7/1/37 Aa3 1,000,000 1,125,160
     Ser. A, 5s, 7/1/34 Aa3 3,500,000 4,110,190
     Ser. A, NATL, 5s, 7/1/33 (Prerefunded 7/1/13) Aa3 2,400,000 2,437,008
     Ser. C, AGM, 5s, 7/1/27 Aa3 5,000,000 5,310,550
     Ser. A, AMBAC, 5s, 7/1/26 Aa3 3,000,000 3,248,010
MA State Port Auth. Special Fac. Rev. Bonds
     (Conrac), Ser. A, 5 1/8s, 7/1/41 A 1,765,000 1,919,914
     (BOSFUEL), FGIC, NATL, 5s, 7/1/27 A2 2,500,000 2,637,800
MA State School Bldg. Auth. Dedicated Sales Tax Rev. Bonds
     Ser. B, 5s, 10/15/32 Aa1 1,000,000 1,183,230
     Ser. A, 5s, 8/15/30 Aa1 3,500,000 4,199,370
     Ser. A, AGM, 5s, 8/15/26 (Prerefunded 8/15/15) Aa1 6,000,000 6,678,480
     Ser. A, AGM, 5s, 8/15/23 (Prerefunded 8/15/15) Aa1 5,000,000 5,565,400
MA State School Bldg. Auth. Sr. Sales Tax Rev. Bonds, Ser. B
     5s, 10/15/41 Aa1 3,500,000 4,030,495
     5s, 8/15/30 Aa1 4,000,000 4,803,000
MA State Trans. Fund Rev. Bonds (Accelerated Bridge Program)
     5s, 6/1/21 Aaa 3,500,000 4,430,475
     Ser. A, 4s, 6/1/26 Aaa 2,825,000 3,147,559
MA State Wtr. Poll. Abatement Trust Rev. Bonds
     (Pool Program), Ser. A, 5 1/4s, 8/1/19 Aaa 1,400,000 1,758,386
     (Pool Program), 5 1/4s, 8/1/17 Aaa 1,430,000 1,717,287
     Ser. 14, 5s, 8/1/32 Aaa 4,000,000 4,739,160
     Ser. 13, 5s, 8/1/26 Aaa 1,000,000 1,168,200
MA State Wtr. Resource Auth. Rev. Bonds
     Ser. A, 6 1/2s, 7/15/19 (Escrowed to maturity) Aa1 5,500,000 6,481,145
     Ser. C, 5 1/4s, 8/1/42 Aa1 3,500,000 4,103,855
     Ser. B, AGM, 5 1/4s, 8/1/23 Aa1 2,035,000 2,642,386
     Ser. A, NATL, 5s, 8/1/29 (Prerefunded 8/1/14) Aa1 4,000,000 4,267,600
     Ser. A, NATL, 5s, 8/1/29 Aa1 3,225,000 3,714,845
     Ser. A, NATL, 5s, 8/1/27 Aa1 1,500,000 1,743,165
     Ser. B, AMBAC, 5s, 8/1/26 Aa1 2,000,000 2,355,300
Marshfield, G.O. Bonds (Muni. Purpose Loan)
     5s, 11/1/19 AA 500,000 616,145
     4s, 11/1/17 AA 500,000 571,495
Metro. Boston, Trans. Pkg. Corp. Rev. Bonds, 5 1/4s, 7/1/36 A1 1,500,000 1,733,715
Milford, G.O. Bonds, AGM, 5 1/8s, 12/15/24 Aa2 2,475,000 2,897,087
Natick, G.O. Bonds, 4s, 6/15/19 AAA 2,640,000 3,104,904
Newburyport, G.O. Bonds (Muni. Purpose Loan), 4s, 1/15/24 AA 1,280,000 1,486,912
North Reading, G.O. Bonds, 5s, 5/15/35 Aa2 3,750,000 4,394,625
Norwell, G.O. Bonds, AMBAC, 5s, 2/15/25 AAA 1,000,000 1,053,540
Weymouth, G.O. Bonds (Muni. Purpose Loan)
     4s, 9/15/19 Aa3 1,635,000 1,904,857
     4s, 9/15/18 Aa3 1,650,000 1,903,061
Worcester, G.O. Bonds (Muni. Purpose Loan), 4s, 11/1/23 Aa3 3,050,000 3,411,966
401,420,379
Puerto Rico (6.6%)
Children's Trust Fund Tobacco Settlement (The) Rev. Bonds
     5 1/2s, 5/15/39 Baa3 1,800,000 1,820,196
     5 3/8s, 5/15/33 BBB 1,940,000 1,944,831
Cmnwlth. of PR, G.O. Bonds, Ser. A, 5 1/4s, 7/1/26 BBB 1,620,000 1,647,491
Cmnwlth. of PR, Aqueduct & Swr. Auth. Rev. Bonds, Ser. A
     6s, 7/1/44 BBB- 4,250,000 4,364,240
     6s, 7/1/38 BBB- 1,040,000 1,077,669
Cmnwlth. of PR, Elec. Pwr. Auth. Rev. Bonds
     Ser. XX, 5 1/4s, 7/1/40 BBB+ 3,000,000 3,021,510
     Ser. CCC, 5s, 7/1/28 BBB+ 2,000,000 2,021,860
     Ser. TT, 5s, 7/1/27 BBB+ 1,350,000 1,360,854
Cmnwlth. of PR, Hwy. & Trans. Auth. Rev. Bonds
     Ser. AA-2, FRN 5.3s, 7/1/35 BBB+ 525,000 530,030
     Ser. L, AMBAC, 5 1/4s, 7/1/38 BBB 3,250,000 3,267,908
     Ser. I, FGIC, 5s, 7/1/25 BBB 1,500,000 1,503,705
Cmnwlth. of PR, Indl. Tourist Edl. Med. & Env. Control Facs. Rev. Bonds (Intl. American U.), 5s, 10/1/22 A- 350,000 384,314
Cmnwlth. of PR, Pub. Bldg. Auth. Mandatory Put Bonds (7/1/17) (Govt. Fac.), Ser. M-2, 5 3/4s, 7/1/34 BBB 1,500,000 1,632,945
Cmnwlth. of PR, Pub. Bldg. Auth. Rev. Bonds (Govt. Fac.), Ser. I, Cmnwlth. of PR Gtd., 5 1/4s, 7/1/29 BBB 685,000 688,158
Cmnwlth. of PR, Sales Tax Fin. Corp. Rev. Bonds
     Ser. A, 6s, 8/1/42 A+ 2,250,000 2,468,678
     Ser. C, 5 1/4s, 8/1/41 A+ 1,750,000 1,846,460
29,580,849
Virgin Islands (0.3%)
VI Pub. Fin. Auth. Rev. Bonds, Ser. A
     6s, 10/1/39 Baa3 600,000 668,730
     5s, 10/1/25 Baa2 850,000 943,092
1,611,822
TOTAL INVESTMENTS
Total investments (cost $411,387,646)(b) $443,428,241













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 June 1, 2012 through February 28, 2013 (the reporting period). Within the following notes to the portfolio, references to “ASC 820” represent Accounting Standards Codification ASC 820 Fair Value Measurements and Disclosures&, references to “Putnam Management” represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC and references to “OTC”, if any, represent over-the-counter.
(a) Percentages indicated are based on net assets of $445,110,997.
(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.” The rating of an insured security represents what is believed to be the most recent rating of the insurer's claims-paying ability available at the close of the reporting period, if higher than the rating of the direct issuer of the bond, and does not reflect any subsequent changes. Security ratings are defined in the Statement of Additional Information.
(b) The aggregate identified cost on a tax basis is $411,281,975, resulting in gross unrealized appreciation and depreciation of $34,067,487 and $1,921,221, respectively, or net unrealized appreciation of $32,146,266.
(NON) Non-income-producing security.
The rates shown on Mandatory Put Bonds are the current interest rates at the close of the reporting period.
The dates shown parenthetically on Mandatory Put Bonds 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):
Education 27.6%
Health care 12.6
Tax bonds 12.3
Utilities 10.4
Security valuation: 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. 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 and recovery rates. 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 $— $443,428,241 $—
Totals by level $— $443,428,241 $—


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 Massachusetts Tax Exempt Income Fund
By (Signature and Title):
/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: April 26, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title):
/s/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: April 26, 2013

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

EX-99.CERT 2 b_845certifications.htm EX-99.CERT b_845certifications.htm

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 26, 2013
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 26, 2013
Steven D. Krichmar
Principal Financial Officer














Attachment A

Period (s) ended February 28, 2013
               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