March - Putnam Investments

Note 3: Purchases and sales of securitiesDuring the reporting period, cost of purchases and proceeds from sales of investment securities other than shortterminvestments and TBA commitments aggregated $801,783,926 and $747,905,074, respectively. There were nopurchases or proceeds from sales of long-term U.S. government securities.Written option transactions during the reporting period are summarized as follows:Written swapoption contractamountsWritten swapoption premiumsWritten optioncontract amountWritten optionpremiumsWritten options outstandingat the beginning of thereporting period $— $— $— $—Options opened 3,109,000 553,651 164,309 94,723Options exercised — — — —Options expired — — — —Options closed — — (85,268) (32,402)Written options outstanding atthe end of the reporting period $3,109,000 $553,651 $79,041 $62,321Note 4: Capital sharesAt the close of the reporting period, there was an unlimited number of shares of beneficial interest authorized.Transactions in capital shares were as follows:Six months ended 3/31/14 Year ended 9/30/13Class A Shares Amount Shares AmountShares sold 4,141,339 $68,201,737 8,013,272 $115,450,691Shares issued in connection withreinvestment of distributions 1,055,875 17,263,562 914,448 12,454,7795,197,214 85,465,299 8,927,720 127,905,470Shares repurchased (5,287,163) (87,064,923) (13,542,252) (194,128,921)Net decrease (89,949) $(1,599,624 ) (4,614,532) $(66,223,451 )Six months ended 3/31/14 Year ended 9/30/13Class B Shares Amount Shares AmountShares sold 284,205 $4,603,674 662,038 $9,402,966Shares issued in connection withreinvestment of distributions 47,919 771,490 32,681 438,572332,124 5,375,164 694,719 9,841,538Shares repurchased (1,014,778) (16,467,403) (2,543,515) (35,887,044)Net decrease (682,654) $(11,092,239 ) (1,848,796) $(26,045,506 )Six months ended 3/31/14 Year ended 9/30/13Class C Shares Amount Shares AmountShares sold 736,659 $11,704,694 1,210,461 $16,943,269Shares issued in connection withreinvestment of distributions 72,727 1,143,998 42,968 563,743809,386 12,848,692 1,253,429 17,507,012Shares repurchased (603,522) (9,551,792) (1,519,340) (20,885,570)Net increase (decrease) 205,864 $3,296,900 (265,911) $(3,378,558 )Dynamic Asset Allocation Growth Fund 111