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: | (811-01403) |
Exact name of registrant as specified in charter: | Putnam Global Equity 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: | October 31, 3012 |
Date of reporting period: | July 31, 2012 |
Item 1. Schedule of Investments: |
Putnam Global Equity Fund | ||||||
The fund's portfolio | ||||||
7/31/12 (Unaudited) | ||||||
COMMON STOCKS (98.8%)(a) | ||||||
Shares | Value | |||||
Aerospace and defense (1.4%) | ||||||
Honeywell International, Inc. | 118,300 | $6,867,315 | ||||
Precision Castparts Corp. | 23,500 | 3,655,660 | ||||
10,522,975 | ||||||
Air freight and logistics (0.9%) | ||||||
FedEx Corp. | 76,400 | 6,898,920 | ||||
6,898,920 | ||||||
Auto components (0.8%) | ||||||
Johnson Controls, Inc. | 247,300 | 6,095,945 | ||||
6,095,945 | ||||||
Automobiles (2.3%) | ||||||
Ford Motor Co. | 500,200 | 4,621,848 | ||||
Nissan Motor Co., Ltd. (Japan) | 1,335,800 | 12,541,163 | ||||
17,163,011 | ||||||
Beverages (1.6%) | ||||||
Anheuser-Busch InBev NV (Belgium) | 147,875 | 11,688,580 | ||||
11,688,580 | ||||||
Building products (0.6%) | ||||||
Owens Corning, Inc.(NON) | 158,100 | 4,246,566 | ||||
4,246,566 | ||||||
Capital markets (2.6%) | ||||||
Blackstone Group LP (The) | 325,200 | 4,504,020 | ||||
Charles Schwab Corp. (The) | 446,800 | 5,643,084 | ||||
Deutsche Bank AG (Germany) | 78,000 | 2,366,520 | ||||
Morgan Stanley | 192,100 | 2,624,081 | ||||
State Street Corp. | 97,600 | 3,941,088 | ||||
19,078,793 | ||||||
Chemicals (6.1%) | ||||||
Agrium, Inc. (Canada) | 48,900 | 4,651,315 | ||||
CF Industries Holdings, Inc. | 42,500 | 8,319,800 | ||||
Georgia Gulf Corp. | 149,500 | 4,900,610 | ||||
K&S AG (Germany) | 96,123 | 4,732,369 | ||||
Lanxess AG (Germany) | 51,482 | 3,568,672 | ||||
Monsanto Co. | 159,700 | 13,673,514 | ||||
Tronox, Ltd. Class A(NON) | 232,000 | 5,375,440 | ||||
45,221,720 | ||||||
Commercial banks (5.1%) | ||||||
Banco Bilbao Vizcaya Argentaria SA (BBVA) (Spain) | 516,780 | 3,342,045 | ||||
Kasikornbank PCL NVDR (Thailand) | 762,300 | 4,224,692 | ||||
Mitsubishi UFJ Financial Group (MUFG), Inc. (Japan) | 848,500 | 4,075,345 | ||||
Regions Financial Corp. | 713,800 | 4,968,048 | ||||
Sberbank of Russia ADR (Russia) | 689,243 | 7,572,691 | ||||
Siam Commercial Bank PCL (Thailand) | 848,300 | 4,339,889 | ||||
Wells Fargo & Co. | 263,172 | 8,897,845 | ||||
37,420,555 | ||||||
Commercial services and supplies (0.5%) | ||||||
Aggreko PLC (United Kingdom) | 120,200 | 3,836,896 | ||||
3,836,896 | ||||||
Communications equipment (0.8%) | ||||||
Qualcomm, Inc. | 100,900 | 6,021,712 | ||||
6,021,712 | ||||||
Computers and peripherals (3.1%) | ||||||
Apple, Inc.(NON) | 24,200 | 14,780,392 | ||||
Asustek Computer, Inc. (Taiwan) | 428,720 | 3,936,069 | ||||
Gemalto NV (Netherlands) | 48,947 | 3,741,987 | ||||
22,458,448 | ||||||
Construction and engineering (0.4%) | ||||||
KBR, Inc. | 123,300 | 3,235,392 | ||||
3,235,392 | ||||||
Consumer finance (0.8%) | ||||||
Capital One Financial Corp. | 105,600 | 5,965,344 | ||||
5,965,344 | ||||||
Diversified financial services (2.3%) | ||||||
JPMorgan Chase & Co. | 335,600 | 12,081,600 | ||||
ORIX Corp. (Japan) | 51,600 | 4,887,438 | ||||
16,969,038 | ||||||
Diversified telecommunication services (3.3%) | ||||||
CenturyLink, Inc. | 113,900 | 4,731,406 | ||||
Nippon Telegraph & Telephone (NTT) Corp. (Japan) | 114,300 | 5,293,735 | ||||
Verizon Communications, Inc. | 251,900 | 11,370,766 | ||||
Ziggo NV (Netherlands)(NON) | 98,483 | 2,842,260 | ||||
24,238,167 | ||||||
Electrical equipment (0.6%) | ||||||
Mitsubishi Electric Corp. (Japan) | 560,000 | 4,427,405 | ||||
4,427,405 | ||||||
Electronic equipment, instruments, and components (1.1%) | ||||||
Hon Hai Precision Industry Co., Ltd. (Taiwan) | 1,367,000 | 3,792,093 | ||||
TE Connectivity, Ltd. (Switzerland) | 128,900 | 4,254,989 | ||||
8,047,082 | ||||||
Energy equipment and services (2.1%) | ||||||
National Oilwell Varco, Inc. | 92,300 | 6,673,290 | ||||
Oceaneering International, Inc. | 79,240 | 4,095,916 | ||||
Oil States International, Inc.(NON) | 59,600 | 4,332,920 | ||||
15,102,126 | ||||||
Food and staples retail (1.0%) | ||||||
Lawson, Inc. (Japan) | 101,200 | 7,274,835 | ||||
7,274,835 | ||||||
Food products (1.1%) | ||||||
Danone (France) | 71,866 | 4,366,810 | ||||
Kerry Group PLC Class A (Ireland) | 85,041 | 3,866,300 | ||||
8,233,110 | ||||||
Gas utilities (0.8%) | ||||||
Tokyo Gas Co., Ltd. (Japan) | 1,124,000 | 5,800,141 | ||||
5,800,141 | ||||||
Health-care equipment and supplies (1.3%) | ||||||
Covidien PLC (Ireland) | 99,700 | 5,571,236 | ||||
Stryker Corp. | 76,300 | 3,969,889 | ||||
9,541,125 | ||||||
Health-care providers and services (4.6%) | ||||||
Aetna, Inc. | 282,149 | 10,174,293 | ||||
Brookdale Senior Living, Inc.(NON) | 215,800 | 3,552,068 | ||||
Catamaran Corp. (Canada)(NON) | 59,800 | 5,053,698 | ||||
Express Scripts Holding Co.(NON) | 138,200 | 8,007,308 | ||||
UnitedHealth Group, Inc. | 134,900 | 6,892,041 | ||||
33,679,408 | ||||||
Hotels, restaurants, and leisure (1.8%) | ||||||
Compass Group PLC (United Kingdom) | 914,111 | 9,781,018 | ||||
TUI Travel PLC (United Kingdom) | 1,276,895 | 3,646,257 | ||||
13,427,275 | ||||||
Household durables (2.8%) | ||||||
Lennar Corp. Class A | 147,600 | 4,311,396 | ||||
Persimmon PLC (United Kingdom) | 313,982 | 3,011,917 | ||||
PulteGroup, Inc.(NON) | 403,800 | 4,562,940 | ||||
Standard Pacific Corp.(NON)(S) | 781,400 | 4,430,538 | ||||
Toll Brothers, Inc.(NON) | 140,700 | 4,104,219 | ||||
20,421,010 | ||||||
Independent power producers and energy traders (0.6%) | ||||||
Electric Power Development Co. (Japan) | 177,800 | 4,189,393 | ||||
4,189,393 | ||||||
Industrial conglomerates (0.8%) | ||||||
Tyco International, Ltd. | 112,500 | 6,180,750 | ||||
6,180,750 | ||||||
Insurance (3.7%) | ||||||
Aflac, Inc. | 119,600 | 5,236,088 | ||||
Aon PLC (United Kingdom) | 134,000 | 6,592,800 | ||||
Assured Guaranty, Ltd. (Bermuda) | 239,700 | 2,871,606 | ||||
Marsh & McLennan Cos., Inc. | 199,800 | 6,635,358 | ||||
Prudential PLC (United Kingdom) | 519,010 | 6,160,051 | ||||
27,495,903 | ||||||
Internet and catalog retail (2.0%) | ||||||
Amazon.com, Inc.(NON) | 23,600 | 5,505,880 | ||||
HomeAway, Inc.(NON) | 239,000 | 5,487,440 | ||||
Priceline.com, Inc.(NON) | 5,600 | 3,705,744 | ||||
14,699,064 | ||||||
Internet software and services (1.9%) | ||||||
Baidu, Inc. ADR (China)(NON) | 42,300 | 5,097,996 | ||||
Telecity Group PLC (United Kingdom)(NON) | 646,462 | 8,663,131 | ||||
13,761,127 | ||||||
IT Services (1.6%) | ||||||
Accenture PLC Class A | 86,900 | 5,240,070 | ||||
Visa, Inc. Class A | 49,700 | 6,414,779 | ||||
11,654,849 | ||||||
Leisure equipment and products (0.4%) | ||||||
Sankyo Co., Ltd. (Japan) | 64,800 | 3,213,009 | ||||
3,213,009 | ||||||
Machinery (0.7%) | ||||||
Stanley Black & Decker, Inc. | 77,400 | 5,177,286 | ||||
5,177,286 | ||||||
Media (0.6%) | ||||||
Major Cineplex Group PCL (Thailand) | 7,041,400 | 4,228,867 | ||||
4,228,867 | ||||||
Multiline retail (0.6%) | ||||||
Mitra Adiperkasa Tbk PT (Indonesia) | 5,307,000 | 4,021,728 | ||||
4,021,728 | ||||||
Oil, gas, and consumable fuels (9.9%) | ||||||
BG Group PLC (United Kingdom) | 995,719 | 19,571,949 | ||||
Cabot Oil & Gas Corp. | 134,700 | 5,682,993 | ||||
Canadian Natural Resources, Ltd. (Canada) | 112,600 | 3,068,350 | ||||
Inpex Corp. (Japan) | 960 | 5,346,324 | ||||
Marathon Oil Corp. | 243,400 | 6,442,798 | ||||
Noble Energy, Inc. | 55,200 | 4,826,136 | ||||
Origin Energy, Ltd. (Australia) | 356,560 | 4,401,032 | ||||
Royal Dutch Shell PLC Class A (United Kingdom) | 422,554 | 14,356,969 | ||||
Southwestern Energy Co.(NON) | 121,200 | 4,029,900 | ||||
Tullow Oil PLC (United Kingdom) | 252,421 | 5,073,650 | ||||
72,800,101 | ||||||
Pharmaceuticals (5.8%) | ||||||
Astellas Pharma, Inc. (Japan) | 169,000 | 8,030,684 | ||||
Pfizer, Inc. | 663,563 | 15,952,055 | ||||
Sanofi (France) | 135,471 | 11,022,591 | ||||
Shire PLC (Ireland) | 258,861 | 7,455,242 | ||||
42,460,572 | ||||||
Professional services (0.6%) | ||||||
Verisk Analytics, Inc. Class A(NON) | 89,500 | 4,497,375 | ||||
4,497,375 | ||||||
Real estate management and development (3.5%) | ||||||
BR Malls Participacoes SA (Brazil) | 254,900 | 2,975,409 | ||||
BR Properties SA (Brazil) | 252,700 | 2,947,262 | ||||
CBRE Group, Inc. Class A(NON) | 212,500 | 3,310,750 | ||||
Hongkong Land Holdings, Ltd. (Hong Kong) | 746,000 | 4,459,184 | ||||
Hysan Development Co., Ltd. (Hong Kong) | 910,000 | 3,838,309 | ||||
Mitsui Fudosan Co., Ltd. (Japan) | 230,000 | 4,422,919 | ||||
Sun Hung Kai Properties, Ltd. (Hong Kong) | 335,000 | 4,171,910 | ||||
26,125,743 | ||||||
Road and rail (0.5%) | ||||||
Localiza Rent a Car SA (Brazil) | 238,100 | 3,861,050 | ||||
3,861,050 | ||||||
Semiconductors and semiconductor equipment (3.4%) | ||||||
Advanced Micro Devices, Inc.(NON) | 483,100 | 1,961,386 | ||||
Samsung Electronics Co., Ltd. (South Korea) | 6,579 | 7,554,801 | ||||
SK Hynix, Inc. (South Korea)(NON) | 246,610 | 4,682,948 | ||||
Spreadtrum Communications, Inc. ADR (China)(S) | 186,400 | 3,370,112 | ||||
Texas Instruments, Inc. | 272,200 | 7,414,728 | ||||
24,983,975 | ||||||
Software (1.9%) | ||||||
Konami Corp. (Japan) | 266,900 | 5,652,920 | ||||
Nuance Communications, Inc.(NON) | 152,000 | 3,093,200 | ||||
Salesforce.com, Inc.(NON) | 42,200 | 5,247,992 | ||||
13,994,112 | ||||||
Specialty retail (3.2%) | ||||||
AutoZone, Inc.(NON) | 10,500 | 3,939,915 | ||||
Best Buy Co., Inc. | 127,200 | 2,301,048 | ||||
Industria de Diseno Textil (Inditex) SA (Spain) | 42,499 | 4,356,216 | ||||
Kingfisher PLC (United Kingdom) | 1,114,217 | 4,637,818 | ||||
Lowe's Cos., Inc. | 336,200 | 8,529,394 | ||||
23,764,391 | ||||||
Textiles, apparel, and luxury goods (1.0%) | ||||||
Coach, Inc. | 77,300 | 3,813,209 | ||||
Hanesbrands, Inc.(NON) | 119,000 | 3,572,380 | ||||
7,385,589 | ||||||
Tobacco (4.8%) | ||||||
Japan Tobacco, Inc. (Japan) | 526,200 | 16,565,025 | ||||
Lorillard, Inc. | 36,400 | 4,682,496 | ||||
Philip Morris International, Inc. | 150,700 | 13,780,008 | ||||
35,027,529 | ||||||
Trading companies and distributors (1.0%) | ||||||
W.W. Grainger, Inc. | 35,600 | 7,291,948 | ||||
7,291,948 | ||||||
Water utilities (0.5%) | ||||||
United Utilities Group PLC (United Kingdom) | 343,314 | 3,669,585 | ||||
3,669,585 | ||||||
Total common stocks (cost $690,942,558) | $727,499,525 | |||||
WARRANTS (0.3%)(a)(NON) | ||||||
Expiration date | Strike Price | Warrants | Value | |||
LIC Housing Finance, Ltd. 144A (India) | 6/3/14 | $0.00001 | 433,073 | $2,040,578 | ||
Total warrants (cost $1,970,689) | $2,040,578 | |||||
SHORT-TERM INVESTMENTS (1.3%)(a) | ||||||
Principal amount/shares | Value | |||||
Putnam Cash Collateral Pool, LLC 0.21%(d) | 1,772,025 | $1,772,025 | ||||
Putnam Money Market Liquidity Fund 0.13%(e) | 4,624,106 | 4,624,106 | ||||
SSgA Prime Money Market Fund 0.12%(P) | 669,377 | 669,377 | ||||
U.S. Treasury Bills with effective yields ranging from 0.175% to 0.187%, May 2, 2013 | $1,092,000 | 1,090,734 | ||||
U.S. Treasury Bills with effective yields ranging from 0.166% to 0.172%, May 30, 2013(SEGSF) | 1,371,000 | 1,369,219 | ||||
Total short-term investments (cost $9,525,013) | $9,525,461 | |||||
TOTAL INVESTMENTS | ||||||
Total investments (cost $702,438,260)(b) | $739,065,564 | |||||
FORWARD CURRENCY CONTRACTS at 7/31/12 (aggregate face value $263,974,010) (Unaudited) | |||||||
Unrealized | |||||||
Contract | Delivery | Aggregate | appreciation/ | ||||
Counterparty | Currency | type | date | Value | face value | (depreciation) | |
Bank of America, N.A. | |||||||
Australian Dollar | Buy | 8/16/12 | $3,267,666 | $3,177,629 | $90,037 | ||
British Pound | Buy | 8/16/12 | 40,921 | 40,527 | 394 | ||
Canadian Dollar | Buy | 8/16/12 | 352,287 | 346,811 | 5,476 | ||
Euro | Buy | 8/16/12 | 2,134,214 | 2,104,709 | 29,505 | ||
Norwegian Krone | Buy | 8/16/12 | 3,091,549 | 3,048,996 | 42,553 | ||
Norwegian Krone | Sell | 8/16/12 | 3,091,549 | 3,055,492 | (36,057) | ||
Swiss Franc | Buy | 8/16/12 | 6,496,979 | 6,515,989 | (19,010) | ||
Barclays Bank PLC | |||||||
British Pound | Sell | 8/16/12 | 3,463,196 | 3,427,484 | (35,712) | ||
Euro | Buy | 8/16/12 | 15,395,673 | 15,679,317 | (283,644) | ||
Hong Kong Dollar | Buy | 8/16/12 | 4,117,877 | 4,117,351 | 526 | ||
Japanese Yen | Sell | 8/16/12 | 4,742,218 | 4,669,417 | (72,801) | ||
Norwegian Krone | Sell | 8/16/12 | 5,467,004 | 5,391,270 | (75,734) | ||
Swedish Krona | Buy | 8/16/12 | 3,927,583 | 3,780,502 | 147,081 | ||
Swiss Franc | Buy | 8/16/12 | 1,703,163 | 1,721,199 | (18,036) | ||
Citibank, N.A. | |||||||
Australian Dollar | Buy | 8/16/12 | 6,614,152 | 6,401,956 | 212,196 | ||
British Pound | Sell | 8/16/12 | 2,695,583 | 2,667,167 | (28,416) | ||
Canadian Dollar | Buy | 8/16/12 | 2,660,596 | 2,586,015 | 74,581 | ||
Danish Krone | Buy | 8/16/12 | 2,851,207 | 2,920,724 | (69,517) | ||
Euro | Sell | 8/16/12 | 2,487,762 | 2,513,698 | 25,936 | ||
Norwegian Krone | Buy | 8/16/12 | 2,375,455 | 2,342,433 | 33,022 | ||
Norwegian Krone | Sell | 8/16/12 | 2,375,455 | 2,358,728 | (16,727) | ||
Singapore Dollar | Buy | 8/16/12 | 535,035 | 525,576 | 9,459 | ||
Swedish Krona | Buy | 8/16/12 | 414,667 | 403,691 | 10,976 | ||
Swedish Krona | Sell | 8/16/12 | 414,667 | 399,117 | (15,550) | ||
Swiss Franc | Buy | 8/16/12 | 4,070,665 | 4,114,285 | (43,620) | ||
Credit Suisse AG | |||||||
Australian Dollar | Buy | 8/16/12 | 6,955,885 | 6,631,543 | 324,342 | ||
British Pound | Buy | 8/16/12 | 5,275,146 | 5,262,275 | 12,871 | ||
Canadian Dollar | Buy | 8/16/12 | 3,867,483 | 3,759,217 | 108,266 | ||
Euro | Sell | 8/16/12 | 865,474 | 875,123 | 9,649 | ||
Japanese Yen | Sell | 8/16/12 | 6,623,747 | 6,472,995 | (150,752) | ||
Swiss Franc | Buy | 8/16/12 | 9,278,105 | 9,371,701 | (93,596) | ||
Deutsche Bank AG | |||||||
British Pound | Sell | 8/16/12 | 2,887,173 | 2,857,479 | (29,694) | ||
Canadian Dollar | Buy | 8/16/12 | 3,966,072 | 3,852,918 | 113,154 | ||
Swiss Franc | Buy | 8/16/12 | 1,122,635 | 1,134,711 | (12,076) | ||
Goldman Sachs International | |||||||
Australian Dollar | Buy | 8/16/12 | 5,522,516 | 5,264,168 | 258,348 | ||
Japanese Yen | Sell | 8/16/12 | 160,369 | 157,907 | (2,462) | ||
Norwegian Krone | Sell | 8/16/12 | 4,905,056 | 4,868,513 | (36,543) | ||
Swedish Krona | Sell | 8/16/12 | 2,057,568 | 1,979,961 | (77,607) | ||
HSBC Bank USA, National Association | |||||||
British Pound | Sell | 8/16/12 | 2,839,667 | 2,810,892 | (28,775) | ||
Euro | Sell | 8/16/12 | 2,407,035 | 2,433,851 | 26,816 | ||
Hong Kong Dollar | Sell | 8/16/12 | 1,860,257 | 1,859,935 | (322) | ||
Norwegian Krone | Buy | 8/16/12 | 162,985 | 161,730 | 1,255 | ||
Swiss Franc | Buy | 8/16/12 | 375,100 | 379,158 | (4,058) | ||
JPMorgan Chase Bank, N.A. | |||||||
British Pound | Sell | 8/16/12 | 5,723,234 | 5,664,691 | (58,543) | ||
Canadian Dollar | Buy | 8/16/12 | 1,640,518 | 1,594,887 | 45,631 | ||
Euro | Sell | 8/16/12 | 3,115,240 | 3,148,224 | 32,984 | ||
Hong Kong Dollar | Sell | 8/16/12 | 835,465 | 835,388 | (77) | ||
Japanese Yen | Sell | 8/16/12 | 9,508,378 | 9,329,710 | (178,668) | ||
Singapore Dollar | Buy | 8/16/12 | 5,244,437 | 5,151,152 | 93,285 | ||
Swedish Krona | Buy | 8/16/12 | 1,559,001 | 1,517,668 | 41,333 | ||
Royal Bank of Scotland PLC (The) | |||||||
British Pound | Sell | 8/16/12 | 1,282,178 | 1,305,344 | 23,166 | ||
Canadian Dollar | Buy | 8/16/12 | 315,802 | 228,748 | 87,054 | ||
Euro | Buy | 8/16/12 | 2,165,101 | 2,227,858 | (62,757) | ||
Japanese Yen | Sell | 8/16/12 | 1,856,625 | 1,828,745 | (27,880) | ||
Swedish Krona | Buy | 8/16/12 | 1,973,668 | 1,897,561 | 76,107 | ||
Swedish Krona | Sell | 8/16/12 | 1,973,668 | 1,921,205 | (52,463) | ||
Swiss Franc | Sell | 8/16/12 | 2,556,128 | 2,582,154 | 26,026 | ||
State Street Bank and Trust Co. | |||||||
Canadian Dollar | Buy | 8/16/12 | 4,372,089 | 4,249,903 | 122,186 | ||
Euro | Buy | 8/16/12 | 8,581,524 | 8,670,153 | (88,629) | ||
Israeli Shekel | Buy | 8/16/12 | 2,064,293 | 2,097,083 | (32,790) | ||
Norwegian Krone | Sell | 8/16/12 | 3,221,320 | 3,197,531 | (23,789) | ||
Swedish Krona | Buy | 8/16/12 | 6,133,407 | 5,902,318 | 231,089 | ||
UBS AG | |||||||
British Pound | Buy | 8/16/12 | 5,982,398 | 5,921,051 | 61,347 | ||
Canadian Dollar | Buy | 8/16/12 | 8,712,977 | 8,468,000 | 244,977 | ||
Euro | Sell | 8/16/12 | 1,808,476 | 1,827,906 | 19,430 | ||
Norwegian Krone | Buy | 8/16/12 | 16,674,896 | 16,551,757 | 123,139 | ||
Swiss Franc | Buy | 8/16/12 | 4,134,804 | 4,177,294 | (42,490) | ||
Westpac Banking Corp. | |||||||
British Pound | Sell | 8/16/12 | 12,486,102 | 12,358,061 | (128,041) | ||
Canadian Dollar | Buy | 8/16/12 | 2,265,344 | 2,202,248 | 63,096 | ||
Euro | Sell | 8/16/12 | 1,263,940 | 1,277,548 | 13,608 | ||
Japanese Yen | Sell | 8/16/12 | 3,448,387 | 3,395,662 | (52,725) | ||
| |||||||
Total | $941,340 |
Key to holding's abbreviations | |||
ADR | American Depository Receipts: represents ownership of foreign securities on deposit with a custodian bank | ||
NVDR | Non-voting Depository Receipt |
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 November 1, 2012 through July 31, 2012 (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 and references to “Putnam Management” represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC. | |||||
(a) | Percentages indicated are based on net assets of $736,598,352. | ||||
(b) | The aggregate identified cost on a tax basis is $703,039,060, resulting in gross unrealized appreciation and depreciation of $78,017,436 and $41,990,932, respectively, or net unrealized appreciation of $36,026,504. | ||||
(NON) | Non-income-producing security. | ||||
(SEGSF) | This security, in part or in entirety, was pledged and segregated with the custodian for collateral on certain derivative contracts at the close of the reporting period. | ||||
(d) | The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the market value of the securities loaned. The market value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The risk of borrower default will be borne by the fund’s agent; the fund will bear the risk of loss with respect to the investment of the cash collateral. At the close of the reporting period, the value of securities loaned amounted to $1,624,173. | ||||
The fund received cash collateral of $1,772,025, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. | |||||
(e) | The fund invested in Putnam Money Market Liquidity Fund, an open-end management investment company managed by Putnam Management. Investments in Putnam Money Market Liquidity Fund are valued at its closing net asset value each business day. Income distributions earned by the fund are recorded as interest income and totaled $6,430 for the reporting period. During the reporting period, cost of purchases and proceeds of sales of investments in Putnam Money Market Liquidity Fund aggregated $240,827,502 and $257,868,221, respectively. Management fees charged to Putnam Money Market Liquidity Fund have been waived by Putnam Management. The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. | ||||
(P) | Security purchased with cash or security received, that was pledged to the fund for collateral on certain derivatives contracts. The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. | ||||
(S) | Security on loan, in part or in entirety, at the close of the reporting period. | ||||
At the close of the reporting period, the fund maintained liquid assets totaling $517,098 to cover certain derivatives contracts. | |||||
144A after the name of an issuer represents securities exempt from registration under Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
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 | 52.3% | ||||
Japan | 12.5 | ||||
United Kingdom | 12.1 | ||||
Ireland | 2.3 | ||||
France | 2.1 | ||||
Thailand | 1.7 | ||||
Canada | 1.7 | ||||
Hong Kong | 1.7 | ||||
South Korea | 1.7 | ||||
Belgium | 1.6 | ||||
Germany | 1.4 | ||||
Brazil | 1.3 | ||||
China | 1.1 | ||||
Taiwan | 1.0 | ||||
Spain | 1.0 | ||||
Russia | 1.0 | ||||
Netherlands | 0.9 | ||||
Australia | 0.6 | ||||
Switzerland | 0.6 | ||||
Indonesia | 0.5 | ||||
Other | 0.9 | ||||
Total | 100.0% | ||||
* Methodology differs from that used for purposes of complying with the fund’s policy regarding investments in securities of foreign issuers, as discussed further in the fund’s prospectus. | |||||
Security valuation: Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities. If no sales are reported — as in the case of some securities traded over-the-counter — a security is valued at its last reported bid price and is generally categorized as a Level 2 security. | |||||
Investments in other open-end investment companies (excluding exchange traded funds), which are classified as Level 1 securities, are based on their net asset value. The net asset value of an investment company equals the total value of its assets less its liabilities and divided by the number of its outstanding shares. Shares are only valued as of the close of regular trading on the New York Stock Exchange each day that the exchange is open. | |||||
Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. These securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. At the close of the reporting period, fair value pricing was used for certain foreign securities in the portfolio. 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. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures and recovery rates. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | |||||
Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | |||||
Forward currency contracts: The fund buys and sells forward currency contracts, which are agreements between two parties to buy and sell currencies at a set price on a future date. These contracts were used to hedge foreign exchange risk. | |||||
The U.S. dollar value of forward currency contracts is determined using current forward currency exchange rates supplied by a quotation service. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked to market daily and the change in market value is recorded as an unrealized gain or loss. The fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed when the contract matures or by delivery of the currency. The fund could be exposed to risk if the value of the currency changes unfavorably, if the counterparties to the contracts are unable to meet the terms of their contracts or if the fund is unable to enter into a closing position. | |||||
The fund had an average contract amount of approximately $260,200,000 on forward currency contracts for the reporting period. | |||||
Master agreements: The fund is a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements (Master Agreements) with certain counterparties that govern over the counter derivative and foreign exchange contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral posted to the fund is held in a segregated account by the fund’s custodian and with respect to those amounts which can be sold or repledged, are presented in the fund’s portfolio. Collateral posted to the fund which cannot be sold or repledged totaled $847,648 at the close of the reporting period. | |||||
Collateral pledged by the fund is segregated by the fund’s custodian and identified in the fund’s portfolio. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by the fund and the applicable counterparty. Collateral requirements are determined based on the fund’s net position with each counterparty. | |||||
Termination events applicable to the fund may occur upon a decline in the fund’s net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty’s long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the fund’s counterparties to elect early termination could impact the fund's future derivative activity. | |||||
At the close of the reporting period, the fund had a net liability position of $471,521 on derivative contracts subject to the Master Agreements. Collateral posted by the fund totaled $422,450. |
ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund’s investments. The three levels are defined as follows: | ||||
Level 1: Valuations based on quoted prices for identical securities in active markets. | ||||
Level 2: Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | ||||
Level 3: Valuations based on inputs that are unobservable and significant to the fair value measurement. | ||||
The following is a summary of the inputs used to value the fund’s net assets as of the close of the reporting period: | ||||
Valuation inputs | ||||
| ||||
Investments in securities: | Level 1 | Level 2 | Level 3 | |
Common stocks: | ||||
Consumer discretionary | $69,210,763 | $45,209,126 | $— | |
Consumer staples | 18,462,504 | 43,761,550 | — | |
Energy | 39,152,303 | 48,749,924 | — | |
Financials | 85,900,792 | 47,154,584 | — | |
Health care | 59,172,588 | 26,508,517 | — | |
Industrials | 51,912,262 | 8,264,301 | — | |
Information technology | 62,897,356 | 38,023,949 | — | |
Materials | 36,920,679 | 8,301,041 | — | |
Telecommunication services | 16,102,172 | 8,135,995 | — | |
Utilities | — | 13,659,119 | — | |
Total common stocks | 439,731,419 | 287,768,106 | — | |
Warrants | — | 2,040,578 | — | |
Short-term investments | 5,293,483 | 4,231,978 | — | |
|
|
|
||
Totals by level | $445,024,902 | $294,040,662 | $— | |
Valuation inputs | ||||
| ||||
Other financial instruments: | Level 1 | Level 2 | Level 3 | |
Forward currency contracts | $— | $941,340 | $— | |
|
|
|
||
Totals by level | $— | $941,340 | $— | |
Market Values of Derivative Instruments as of the close of the reporting period | ||||
Asset derivatives | Liability derivatives | |||
| ||||
Derivatives not accounted for as hedging instruments under ASC 815 | Market value | Market value | ||
Foreign exchange contracts | $2,840,901 | $1,899,561 | ||
Equity contracts | 2,040,578 | — | ||
|
|
|||
Total | $4,881,479 | $1,899,561 | ||
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 Global Equity Fund |
By (Signature and Title): |
/s/ Janet C. Smith Janet C. Smith Principal Accounting Officer Date: September 28, 2012 |
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: September 28, 2012 |
By (Signature and Title): |
/s/ Steven D. Krichmar Steven D. Krichmar Principal Financial Officer Date: September 28, 2012 |
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: September 27, 2012 | |
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: September 27, 2012 | |
Steven D. Krichmar | |
Principal Financial Officer | |
Attachment A | |
NQ | |
Period (s) ended July 31, 2012 | |
Putnam Managed Municipal Income Trust | |
Putnam Municipal Opportunities Trust | |
Putnam Multi-Cap Value Fund | |
Putnam Multi-Cap Core Fund | |
The Putnam Fund for Growth and Income | |
Putnam Capital Opportunities Fund | |
Putnam Income Fund | |
Putnam Global Income Trust | |
Putnam Global Equity Fund | |
Putnam Convertible Securities Fund | |
Putnam Absolute Return 100 Fund | |
Putnam Absolute Return 300 Fund | |
Putnam Absolute Return 500 Fund | |
Putnam Absolute Return 700 Fund | |
Putnam Capital Spectrum Fund | |
Putnam Equity Spectrum Fund | |
Putnam Asia Pacific Equity Fund | |
Putnam Global Sector Fund |