-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EfQd0dRb1hdRliu2PwIoaFhxdMavnkYTsH6ajituRfy4yulPDDea6ib4tlYWjyBE OFPVj6LkAN6T2lBmyIFXbg== 0000928816-04-001290.txt : 20041129 0000928816-04-001290.hdr.sgml : 20041129 20041129160007 ACCESSION NUMBER: 0000928816-04-001290 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040930 FILED AS OF DATE: 20041129 DATE AS OF CHANGE: 20041129 EFFECTIVENESS DATE: 20041129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM NEW OPPORTUNITIES FUND CENTRAL INDEX KEY: 0000865177 IRS NUMBER: 043091455 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06128 FILM NUMBER: 041171626 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: A6 ZIP: 02109 BUSINESS PHONE: 6172921000 N-Q 1 pno1.txt PUTNAM NEW OPPORTUNITIES FUND Item 1. Schedule of Investments: - -------------------------------- Putnam New Opportunities Fund QUARTERLY PORTFOLIO HOLDINGS 9-30-04
Putnam New Opportunities Fund - ----------------------------------------------------------------------------------------------------------- The fund's portfolio September 30, 2004 (Unaudited) Common stocks (96.2%) (a) - ----------------------------------------------------------------------------------------------------------- Number of shares Value - ----------------------------------------------------------------------------------------------------------- Advertising and Marketing Services (0.2%) - ----------------------------------------------------------------------------------------------------------- 396,900 Lamar Advertising Co. (NON) $16,515,009 Aerospace and Defense (2.2%) - ----------------------------------------------------------------------------------------------------------- 329,700 Boeing Co. (The) 17,019,114 776,100 Raytheon Co. 29,476,278 560,700 Rockwell Collins, Inc. 20,824,398 1,210,300 United Defense Industries, Inc. (NON) 48,399,897 372,800 United Technologies Corp. 34,812,064 ------------- 150,531,751 Automotive (0.5%) - ----------------------------------------------------------------------------------------------------------- 442,700 Copart, Inc. (NON) 8,380,311 262,300 Donaldson Co., Inc. 7,446,697 308,400 Johnson Controls, Inc. 17,520,204 ------------- 33,347,212 Banking (2.6%) - ----------------------------------------------------------------------------------------------------------- 405,500 Doral Financial Corp. 16,816,085 602,200 Investors Financial Services Corp. 27,177,286 191,322 M&T Bank Corp. 18,309,515 361,500 State Street Corp. 15,439,665 1,474,800 TCF Financial Corp. 44,671,692 128,400 U.S. Bancorp 3,710,760 261,900 UnionBanCal Corp. 15,507,099 206,600 Wells Fargo & Co. 12,319,558 467,500 Zions Bancorp. 28,536,200 ------------- 182,487,860 Beverage (1.1%) - ----------------------------------------------------------------------------------------------------------- 1,255,700 Coca-Cola Enterprises, Inc. 23,732,730 1,063,700 Pepsi Bottling Group, Inc. (The) 28,879,455 518,900 PepsiCo, Inc. 25,244,485 ------------- 77,856,670 Biotechnology (3.2%) - ----------------------------------------------------------------------------------------------------------- 381,500 Amgen, Inc. (NON) 21,623,420 1,239,950 Amylin Pharmaceuticals, Inc. (NON) 25,443,774 1,057,700 Celgene Corp. (NON) 61,589,871 116,700 Genentech, Inc. (NON) 6,117,414 896,400 Genzyme Corp. (NON) 48,773,124 629,400 Gilead Sciences, Inc. (NON) 23,526,972 169,200 Invitrogen Corp. (NON) 9,304,308 622,100 Ligand Pharmaceuticals, Inc. Class B (NON) 6,233,442 473,800 Medicines Co. (NON) 11,437,532 157,700 OSI Pharmaceuticals, Inc. (NON) 9,692,242 ------------- 223,742,099 Broadcasting (0.4%) - ----------------------------------------------------------------------------------------------------------- 918,100 XM Satellite Radio Holdings, Inc. Class A (NON) 28,479,462 Building Materials (0.6%) - ----------------------------------------------------------------------------------------------------------- 565,000 American Standard Cos., Inc. (NON) 21,984,150 515,800 Sherwin Williams Co. 22,674,568 ------------- 44,658,718 Chemicals (0.2%) - ----------------------------------------------------------------------------------------------------------- 577,300 Engelhard Corp. 16,366,455 Coal (0.2%) - ----------------------------------------------------------------------------------------------------------- 322,529 CONSOL Energy, Inc. 11,253,037 Commercial and Consumer Services (2.4%) - ----------------------------------------------------------------------------------------------------------- 723,400 CDW Corp. 41,978,902 905,533 Choicepoint, Inc. (NON) 38,620,982 475,900 Corporate Executive Board Co. (The) 29,144,116 148,300 eBay, Inc. (NON) 13,634,702 69,100 Manpower, Inc. 3,074,259 1,025,961 Robert Half International, Inc. 26,439,015 394,900 Yahoo!, Inc. (NON) 13,391,059 ------------- 166,283,035 Communications Equipment (4.3%) - ----------------------------------------------------------------------------------------------------------- 1,122,907 ADTRAN, Inc. 25,467,531 899,300 Aspect Communications Corp. (NON) 8,930,049 2,420,100 Cisco Systems, Inc. (NON) 43,803,810 735,900 Comverse Technology, Inc. (NON) 13,856,997 905,200 Harris Corp. 49,731,688 2,805,291 Juniper Networks, Inc. (NON) 66,204,868 1,045,900 Qualcomm, Inc. 40,831,936 991,500 Scientific-Atlanta, Inc. 25,699,680 2,315,700 Tellabs, Inc. (NON) 21,281,283 ------------- 295,807,842 Computers (2.8%) - ----------------------------------------------------------------------------------------------------------- 80,200 Anixter International, Inc. 2,814,218 493,400 Dell, Inc. (NON) 17,565,040 391,100 Hewlett-Packard Co. 7,333,125 1,207,160 Lexmark International, Inc. (NON) 101,413,512 438,400 NCR Corp. (NON) 21,740,256 2,011,300 Network Appliance, Inc. (NON) 46,259,900 ------------- 197,126,051 Conglomerates (2.3%) - ----------------------------------------------------------------------------------------------------------- 374,300 Danaher Corp. 19,194,104 893,000 General Electric Co. 29,986,940 557,300 Harman International Industries, Inc. 60,049,075 391,300 ITT Industries, Inc. 31,300,087 253,300 Textron, Inc. 16,279,591 ------------- 156,809,797 Consumer Cyclicals (0.6%) - ----------------------------------------------------------------------------------------------------------- 505,500 Black & Decker Manufacturing Co. 39,145,920 Consumer Finance (1.5%) - ----------------------------------------------------------------------------------------------------------- 977,900 AmeriCredit Corp. (NON) 20,418,552 811,500 Capital One Financial Corp. 59,969,850 485,300 MBNA Corp. 12,229,560 749,500 Providian Financial Corp. (NON) 11,647,230 ------------- 104,265,192 Consumer Goods (2.2%) - ----------------------------------------------------------------------------------------------------------- 845,500 Avon Products, Inc. 36,931,440 862,100 Energizer Holdings, Inc. (NON) 39,742,810 270,100 Gillette Co. (The) 11,273,974 1,209,600 Newell Rubbermaid, Inc. 24,240,384 736,200 Procter & Gamble Co. 39,843,144 88,500 Yankee Candle Co., Inc. (The) (NON) 2,562,960 ------------- 154,594,712 Consumer Services (1.4%) - ----------------------------------------------------------------------------------------------------------- 1,304,225 Alliance Data Systems Corp. (NON) 52,899,366 795,400 Getty Images, Inc. (NON) 43,985,620 ------------- 96,884,986 Containers (0.3%) - ----------------------------------------------------------------------------------------------------------- 530,800 Ball Corp. 19,867,844 Electronics (4.9%) - ----------------------------------------------------------------------------------------------------------- 842,500 Arrow Electronics, Inc. (NON) 19,023,650 113,700 Brooks Automation, Inc. (NON) 1,608,855 1,862,800 Cypress Semiconductor Corp. (NON) 16,467,152 2,146,700 Intel Corp. (SEG) 43,062,802 427,000 International Rectifier Corp. (NON) 14,646,100 1,049,700 Jabil Circuit, Inc. (NON) 24,143,100 1,621,900 Linear Technology Corp. 58,777,656 1,206,700 Marvell Technology Group, Ltd. (Bermuda) (NON) 31,531,098 859,100 Microchip Technology, Inc. 23,058,244 523,800 Motorola, Inc. 9,449,352 627,000 PerkinElmer, Inc. 10,796,940 557,900 SanDisk Corp. (NON) 16,246,048 646,320 Skyworks Solutions, Inc. (NON) 6,140,040 1,491,200 Storage Technology Corp. (NON) 37,667,712 481,100 W.W. Grainger, Inc. 27,735,415 ------------- 340,354,164 Energy (2.0%) - ----------------------------------------------------------------------------------------------------------- 1,195,000 BJ Services Co. 62,629,950 572,700 ENSCO International, Inc. 18,710,109 579,600 Nabors Industries, Ltd. (Bermuda) (NON) 27,444,060 488,400 Noble Corp. (Cayman Islands) (NON) 21,953,580 92,200 Precision Drilling Corp. (Canada) (NON) 5,301,500 ------------- 136,039,199 Entertainment (0.3%) - ----------------------------------------------------------------------------------------------------------- 281,300 Pixar, Inc. (NON) 22,194,570 Financial (2.3%) - ----------------------------------------------------------------------------------------------------------- 233,300 Chicago Mercantile Exchange 37,631,290 727,100 Citigroup, Inc. 32,079,652 416,000 Fannie Mae 26,374,400 832,300 Moody's Corp. 60,965,975 ------------- 157,051,317 Food (0.1%) - ----------------------------------------------------------------------------------------------------------- 491,000 7-Eleven, Inc. (NON) 9,810,180 Gaming & Lottery (1.6%) - ----------------------------------------------------------------------------------------------------------- 1,786,600 GTECH Holdings Corp. 45,236,712 914,200 Harrah's Entertainment, Inc. 48,434,316 327,100 MGM Mirage, Inc. (NON) 16,240,515 ------------- 109,911,543 Health Care Services (5.1%) - ----------------------------------------------------------------------------------------------------------- 439,300 AmerisourceBergen Corp. 23,594,803 245,700 Anthem, Inc. (NON) 21,437,325 1,274,795 Caremark Rx, Inc. (NON) 40,882,676 1,618,800 Community Health Systems, Inc. (NON) 43,189,584 622,300 Coventry Health Care, Inc. (NON) 33,212,151 414,900 Fisher Scientific International, Inc. (NON) 24,201,117 118,200 Health Management Associates, Inc. 2,414,826 39,300 Henry Schein, Inc. (NON) 2,448,783 978,300 IMS Health, Inc. 23,400,936 115,100 Laboratory Corp. of America Holdings (NON) 5,032,172 312,900 Manor Care, Inc. 9,374,484 1,059,700 McKesson Corp. 27,181,305 401,900 PacifiCare Health Systems, Inc. (NON) 14,749,730 83,400 Quest Diagnostics, Inc. 7,357,548 571,800 UnitedHealth Group, Inc. 42,164,532 1,704,500 VCA Antech, Inc. (NON) 35,163,835 20,700 WellChoice, Inc. (NON) 772,731 ------------- 356,578,538 Homebuilding (2.1%) - ----------------------------------------------------------------------------------------------------------- 183,200 KB Home 15,478,568 455,000 Lennar Corp. 21,658,000 237,900 M.D.C. Holdings, Inc. 17,390,490 91,125 NVR, Inc. (NON) 50,209,875 260,400 Pulte Homes, Inc. 15,980,748 264,500 Ryland Group, Inc. (The) 24,508,570 ------------- 145,226,251 Industrial (0.4%) - ----------------------------------------------------------------------------------------------------------- 370,800 3M Co. 29,652,876 Insurance (1.5%) - ----------------------------------------------------------------------------------------------------------- 374,900 American International Group, Inc. 25,489,451 734,500 Everest Re Group, Ltd. (Bermuda) 54,595,385 568,300 W.R. Berkley Corp. 23,959,528 ------------- 104,044,364 Investment Banking/Brokerage (1.4%) - ----------------------------------------------------------------------------------------------------------- 1,873,100 Ameritrade Holding Corp. Class A (NON) 22,495,931 267,500 Bear Stearns Cos., Inc. (The) 25,725,475 1,723,400 E*Trade Group, Inc. (NON) 19,681,228 455,100 Eaton Vance Corp. 18,381,489 191,065 T. Rowe Price Group, Inc. 9,732,851 ------------- 96,016,974 Leisure (0.7%) - ----------------------------------------------------------------------------------------------------------- 529,600 Brunswick Corp. 24,234,496 432,900 Polaris Industries, Inc. 24,164,478 ------------- 48,398,974 Lodging/Tourism (1.5%) - ----------------------------------------------------------------------------------------------------------- 120,100 Choice Hotels International, Inc. 6,916,559 2,133,000 Hilton Hotels Corp. 40,185,720 569,400 Marriott International, Inc. Class A 29,586,024 587,400 Starwood Hotels & Resorts Worldwide, Inc. 27,267,108 ------------- 103,955,411 Machinery (0.3%) - ----------------------------------------------------------------------------------------------------------- 419,400 Terex Corp. (NON) 18,201,960 Manufacturing (0.3%) - ----------------------------------------------------------------------------------------------------------- 337,800 Graco, Inc. 11,316,300 223,100 Mettler-Toledo International, Inc. (Switzerland) (NON) 10,534,782 ------------- 21,851,082 Medical Technology (6.4%) - ----------------------------------------------------------------------------------------------------------- 362,500 Bausch & Lomb, Inc. 24,088,125 505,100 Becton, Dickinson and Co. 26,113,670 1,003,400 Biomet, Inc. 47,039,392 1,124,400 C.R. Bard, Inc. 63,674,772 670,100 Charles River Laboratories International, Inc. (NON) 30,690,580 497,100 Dade Behring Holdings, Inc. (NON) 27,697,418 305,500 Gen-Probe, Inc. (NON) 12,180,285 388,600 Kinetic Concepts, Inc. (NON) 20,420,930 452,400 Medtronic, Inc. 23,479,560 843,100 Respironics, Inc. (NON) 45,055,264 549,600 St. Jude Medical, Inc. (NON) 41,368,392 1,744,700 Varian Medical Systems, Inc. (NON) 60,314,279 451,500 Waters Corp. (NON) 19,911,150 ------------- 442,033,817 Natural Gas Utilities (0.3%) - ----------------------------------------------------------------------------------------------------------- 275,300 Kinder Morgan, Inc. 17,294,346 Oil & Gas (3.7%) - ----------------------------------------------------------------------------------------------------------- 317,200 Amerada Hess Corp. 28,230,800 120,000 Anadarko Petroleum Corp. 7,963,200 1,051,330 Apache Corp. 52,682,146 1,051,200 Burlington Resources, Inc. 42,888,960 701,400 Canadian Natural Resources, Ltd. (Canada) 27,936,762 455,700 Newfield Exploration Co. (NON) 27,907,068 268,600 Noble Energy, Inc. 15,643,264 494,000 Pogo Producing Co. 23,440,300 444,500 Sunoco, Inc. 32,884,110 ------------- 259,576,610 Pharmaceuticals (4.8%) - ----------------------------------------------------------------------------------------------------------- 681,800 Abbott Laboratories 28,881,048 210,000 Allergan, Inc. 15,235,500 1,138,550 Barr Pharmaceuticals, Inc. (NON) 47,170,127 959,000 Cephalon, Inc. (NON) 45,936,100 1,006,600 Johnson & Johnson 56,701,778 300,800 Medicis Pharmaceutical Corp. Class A 11,743,232 1,314,100 Mylan Laboratories, Inc. 23,653,800 2,722,700 Pfizer, Inc. 83,314,620 540,500 Wyeth 20,214,700 ------------- 332,850,905 Photography/Imaging (0.3%) - ----------------------------------------------------------------------------------------------------------- 1,449,600 Xerox Corp. (NON) 20,410,368 Retail (10.7%) - ----------------------------------------------------------------------------------------------------------- 753,800 Abercrombie & Fitch Co. Class A 23,744,700 484,600 Advance Auto Parts, Inc. (NON) 16,670,240 793,900 Aeropostale, Inc. (NON) 20,800,180 1,445,400 American Eagle Outfitters, Inc. 53,262,990 805,000 Barnes & Noble, Inc. (NON) 29,785,000 68,501 Best Buy Co., Inc. 3,715,467 770,600 Borders Group, Inc. 19,110,880 687,000 Claire's Stores, Inc. 17,202,480 1,448,900 Coach, Inc. (NON) 61,462,338 561,500 Costco Wholesale Corp. 23,335,940 194,500 Fossil, Inc. (NON) 6,017,830 872,000 Home Depot, Inc. (The) 34,182,400 160,600 Kohl's Corp. (NON) 7,739,314 857,800 Limited Brands, Inc. 19,120,362 665,800 Lowe's Cos., Inc. 36,186,230 853,900 Michaels Stores, Inc. 50,559,419 1,170,765 PETCO Animal Supplies, Inc. (NON) 38,237,185 728,200 RadioShack Corp. 20,855,648 693,400 Regis Corp. 27,888,548 690,700 Rent-A-Center, Inc. (NON) 17,861,502 1,111,100 Ross Stores, Inc. 26,044,184 2,314,000 Staples, Inc. 69,003,480 171,100 Target Corp. 7,742,275 2,605,600 TJX Cos., Inc. (The) 57,427,424 999,600 Wal-Mart Stores, Inc. 53,178,720 ------------- 741,134,736 Schools (0.7%) - ----------------------------------------------------------------------------------------------------------- 506,624 Apollo Group, Inc. Class A (NON) 37,171,003 380,059 Career Education Corp. (NON) 10,805,077 ------------- 47,976,080 Semiconductor (0.5%) - ----------------------------------------------------------------------------------------------------------- 1,470,300 Lam Research Corp. (NON) 32,170,164 Shipping (1.4%) - ----------------------------------------------------------------------------------------------------------- 565,600 Expeditors International of Washington, Inc. 29,241,520 747,000 J. B. Hunt Transport Services, Inc. 27,743,580 317,100 Ryder System, Inc. 14,916,384 1,206,150 Werner Enterprises, Inc. 23,290,757 ------------- 95,192,241 Software (9.4%) - ----------------------------------------------------------------------------------------------------------- 2,364,600 Adobe Systems, Inc. 116,976,761 1,998,100 Amdocs, Ltd. (Guernsey) (NON) 43,618,523 1,301,900 Autodesk, Inc. 63,311,397 679,200 Avid Technology, Inc. (NON) 31,834,104 2,462,600 BMC Software, Inc. (NON) 38,933,706 4,236,500 Citrix Systems, Inc. (NON) 74,223,480 1,167,200 Cognos, Inc. (Canada) (NON) 41,458,944 367,500 Intuit, Inc. (NON) 16,684,500 674,700 Mercury Interactive Corp. (NON) 23,533,536 3,110,400 Microsoft Corp. (SEG) 86,002,560 1,534,800 Oracle Corp. (NON) 17,312,544 3,528,700 Siebel Systems, Inc. (NON) 26,606,398 1,357,800 Symantec Corp. (NON) 74,516,064 ------------- 655,012,517 Technology (--%) - ----------------------------------------------------------------------------------------------------------- 30,100 Dun & Bradstreet Corp. (The) (NON) 1,766,870 Technology Services (1.8%) - ----------------------------------------------------------------------------------------------------------- 578,000 Ask Jeeves, Inc. (NON) 18,906,380 1,394,600 Cognizant Technology Solutions Corp. (NON) 42,549,246 595,140 Fiserv, Inc. (NON) 20,746,580 1,388,400 Ingram Micro, Inc. Class A (NON) 22,353,240 258,200 Total Systems Services, Inc. 6,516,968 826,000 VeriSign, Inc. (NON) 16,420,880 ------------- 127,493,294 Telecommunications (1.5%) - ----------------------------------------------------------------------------------------------------------- 3,363,300 American Tower Corp. Class A (NON) 51,626,655 2,063,060 Crown Castle International Corp. (NON) 30,698,333 756,400 Nextel Partners, Inc. (NON) 12,541,112 400,000 Western Wireless Corp. Class A (NON) 10,284,000 ------------- 105,150,100 Textiles (0.4%) - ----------------------------------------------------------------------------------------------------------- 268,300 Columbia Sportswear Co. (NON) 14,622,350 205,100 Nike, Inc. 16,161,880 ------------- 30,784,230 Tobacco (0.4%) - ----------------------------------------------------------------------------------------------------------- 523,800 Altria Group, Inc. 24,639,552 Waste Management (0.4%) - ----------------------------------------------------------------------------------------------------------- 592,900 Stericycle, Inc. (NON) 27,214,110 ------------- Total Common stocks (cost $6,057,194,482) $6,676,010,995 Short-term investments (4.0%) (a) (cost $276,764,751) - ----------------------------------------------------------------------------------------------------------- Principal amount Value - ----------------------------------------------------------------------------------------------------------- $276,764,751 Putnam Prime Money Market Fund (e) $276,764,751 - ----------------------------------------------------------------------------------------------------------- Total Investments (cost $6,333,959,233) (b) $6,952,775,746 - -----------------------------------------------------------------------------------------------------------
Futures contracts outstanding at September 30, 2004 (Unaudited) Unrealized Aggregate Expiration appreciation/ Value face value date (depreciation) - --------------------------------------------------------------------------------------------- Nasdaq 100 (Long) $32,886,000 $33,259,526 Dec-04 $(373,526) Russell 2000 Index Mini (Long) 82,369,000 82,324,679 Dec-04 44,321 S&P 500 Index (Long) 70,796,150 71,145,668 Dec-04 (349,518) - --------------------------------------------------------------------------------------------- $(678,723) - ---------------------------------------------------------------------------------------------
Written options outstanding at September 30, 2004 (Unaudited) (premiums received $183,799) Contract Expiration date/ amount strike price Value - --------------------------------------------------------------------------------------------- 57,150 Apollo Group, Inc. Class A (Call) Oct 04/$79.54 $37,444 92,365 Ligand Pharmaceuticals, Inc. Class B (Call) Oct 04/$12.33 7,796 73,606 Microchip Technology, Inc. (Call) Oct 04/$31.31 9,569 164,688 Mylan Laboratories, Inc. (Call) Oct 04/$20.95 8,943 - --------------------------------------------------------------------------------------------- $63,752 - ---------------------------------------------------------------------------------------------
NOTES (a) Percentages indicated are based on net assets of $6,941,406,836. (b) The aggregate identified cost on a tax basis is $6,351,583,378, resulting in gross unrealized appreciation and depreciation of $856,626,262 and $255,433,894, respectively, or net unrealized appreciation of $601,192,368. (NON) Non-income-producing security. (SEG) A portion of these securities were pledged and segregated with the custodian to cover margin requirements for futures contracts at September 30, 2004. (e) The fund invests in the Putnam Prime Money Market Fund, an open-end management investment company managed by Putnam Investment Management, LLC ("Putnam Management"), the fund's manager, an indirect wholly-owned subsidiary of Putnam, LLC. Management fees paid by the fund are reduced by an amount equal to the management fees paid by Putnam Prime Money Market Fund with respect to assets invested by the fund in Putnam Prime Money Market Fund. Income distributions earned by the fund totaled $649,367 for the period ended September 30, 2004. 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. 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. 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 securities taking into account multiple factors, including movements in the U.S. securities markets. 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. Securities quoted in foreign currencies are translated into U.S. dollars at the current exchange rate. Short-term investments having remaining maturities of 60 days or less are valued at amortized cost, which approximates fair value. Other investments, including restricted securities, are valued at fair value following procedures approved by the Trustees. Such valuations and procedures are reviewed periodically by the Trustees. Futures and options contracts The fund may use futures and options contracts to hedge against changes in the values of securities the fund owns or expects to purchase. The fund may also write options on securities it owns or in which it may invest to increase its current returns. The potential risk to the fund is that the change in value of futures and options contracts may not correspond to the change in value of the hedged instruments. In addition, losses may arise from changes in the value of the underlying instruments, if there is an illiquid secondary market for the contracts, or if the counterparty to the contract is unable to perform. Risks may exceed amounts recognized on the statement of assets and liabilities. When the contract is closed, 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. Realized gains and losses on purchased options are included in realized gains and losses on investment securities. Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade. The fund and the broker agree to exchange an amount of cash equal to the daily fluctuation in the value of the futures contract. Such receipts or payments are known as "variation margin." Exchange-traded options are valued at the last sale price, or if no sales are reported, the last bid price for purchased options and the last ask price for written options. Options traded over-the-counter are valued using prices supplied by dealers. Futures and written option contracts outstanding at period end, if any, are listed after the fund's portfolio. 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: - ------------------ A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 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. NAME OF REGISTRANT By (Signature and Title): /s/ Michael T. Healy -------------------------- Michael T. Healy Principal Accounting Officer Date: November 29, 2004 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/ Charles E. Porter --------------------------- Charles E. Porter Principal Executive Officer Date: November 29, 2004 By (Signature and Title): /s/ Steven D. Krichmar --------------------------- Steven D. Krichmar Principal Financial Officer Date: November 29, 2004 EX-99.CERT 2 exnn2.txt EX-99.CERT Certifications - -------------- I, Charles E. Porter, 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 schedule of investments included in each report fairly presents in all material respects the investments of the registrant as of the end of the fiscal quarter for which each 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) 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) 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 c) 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 controls 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 controls over financial reporting. /s/ Charles E. Porter Date: November 29, 2004 - ---------------------- ----------------------- Charles E. Porter, 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 schedule of investments included in each report fairly presents in all material respects the investments of the registrant as of the end of the fiscal quarter for which each 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) 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) 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 c) 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 controls 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 controls over financial reporting. /s/ Steven D. Krichmar Date: November 29, 2004 - ---------------------- ----------------------- Steven D. Krichmar, Principal Financial Officer Attachment A - -------------- Period ended September 30, 2004 Quarterly Portfolios 057 Putnam Europe Equity Fund 2CE Putnam International Growth and Income Fund 2HF Putnam Small Cap Growth Fund 377 Putnam Discovery Growth Fund 841 Putnam International Equity Fund 852 Putnam New Opportunities Fund Putnam Variable Trust includes: 2PX Putnam VT American Government Income Fund 2TP Putnam VT Capital Appreciation Fund 961 Putnam VT Diversified Income Fund 2IS Putnam VT The George Putnam Fund of Boston 070 Putnam VT Global Asset Allocation Fund 016 Putnam VT Global Equity Fund 066 Putnam VT Growth and Income Fund 2PU Putnam VT Growth Opportunities Fund 2IW Putnam VT Health Sciences Fund 067 Putnam VT High Yield Fund 068 Putnam VT Income Fund 2DO Putnam VT International Equity Fund 2DN Putnam VT International Growth and Income Fund 2DP Putnam VT International New Opportunities Fund 2IO Putnam VT Investors Fund 069 Putnam VT Money Market Fund 098 Putnam VT New Opportunities Fund 2DR Putnam VT New Value Fund 2IP Putnam VT OTC & Emerging Growth Fund 2LA Putnam VT Research Fund 2MJ Putnam VT Small Cap Value Fund 152 Putnam VT Utilities Growth and Income Fund 2DQ Putnam VT Vista Fund 065 Putnam VT Voyager Fund 2TJ Putnam VT Discovery Growth 23N Putnam VT Equity Income Fund 23K Putnam VT Capital Opportunities Fund 23H Putnam VT Mid Cap Value Fund -----END PRIVACY-ENHANCED MESSAGE-----