Putnam FL Investment Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M Co.	COM	88579y101	609	4,492	SH		SOLE		4,492	0	4,492
AT&T Inc.	COM	00206R102	9,353	266,688	SH		SOLE		266,688	0	264,590
AbbVie, Inc.	COM	00287Y109	6,222	121,042	SH		SOLE		121,042	0	119,392
Abbott Laboratories	COM	002824100	4,627	120,147	SH		SOLE		120,147	0	118,497
Accenture PLC	COM	G1151C101	11,807	148,103	SH		SOLE		148,103	0	146,078
Affiliated Managers Group, Inc	COM	008252108	1,069	5,345	SH		SOLE		5,345	0	5,275
American Airlines Group Inc.	COM	02376r102	6,206	169,565	SH		SOLE		169,565	0	167,815
American Water Works Co., Inc.	COM	030420103	9,556	210,475	SH		SOLE		210,475	0	209,375
Analog Devices	COM	032654105	2,392	45,021	SH		SOLE		45,021	0	44,836
Aon PLC	COM	G0408V102	274	3,250	SH		SOLE		3,250	0	3,250
Apple, Inc.	COM	037833100	23,169	43,166	SH		SOLE		43,166	0	42,629
Ares Capital Corp.	COM	04010L103	8,863	503,030	SH		SOLE		503,030	0	498,930
Ashland, Inc.	COM	044209104	14,547	146,234	SH		SOLE		146,234	0	144,244
Automatic Data Processing, Inc	COM	053015103	1,546	20,005	SH		SOLE		20,005	0	19,890
Avago Technologies Limited	COM	Y0486S104	14,343	222,690	SH		SOLE		222,690	0	220,065
Bank of America Corp.	COM	060505104	509	29,600	SH		SOLE		29,600	0	29,600
Bard (C.R.), Inc.	COM	067383109	6,640	44,868	SH		SOLE		44,868	0	44,293
Berkshire Hathaway Inc., Class	COM	084670108	375	2	SH		SOLE		2	0	2
Berkshire Hathaway Inc., Class	COM	084670702	2,623	20,986	SH		SOLE		20,986	0	20,911
Biogen IDEC, Inc.	COM	09062x103	7,262	23,741	SH		SOLE		23,741	0	23,361
Blackstone Mortgage Trust, Inc	COM	09257w100	3,923	136,445	SH		SOLE		136,445	0	135,495
Boeing Co.	COM	097023105	517	4,121	SH		SOLE		4,121	0	4,121
Boston Beer Company, Inc. - Cl	COM	100557107	343	1,400	SH		SOLE		1,400	0	1,400
Brinker Intl	COM	109641100	2,964	56,520	SH		SOLE		56,520	0	55,975
Bristol-Myers Squibb Co.	COM	110122108	1,894	36,462	SH		SOLE		36,462	0	36,462
CIGNA Corp.	COM	125509109	1,974	23,572	SH		SOLE		23,572	0	23,472
CIT Group, Inc.	COM	125581801	324	6,605	SH		SOLE		6,605	0	6,605
CVS/Caremark Corp.	COM	126650100	24,013	320,768	SH		SOLE		320,768	0	316,528
Celgene Corp	COM	151020104	8,046	57,636	SH		SOLE		57,636	0	56,721
Chevron Corp.	COM	166764100	4,578	38,502	SH		SOLE		38,502	0	38,162
Chicago Bridge & Iron Co.	COM	167250109	2,933	33,649	SH		SOLE		33,649	0	33,349
Citigroup, Inc.	COM	172967424	5,196	109,154	SH		SOLE		109,154	0	108,154
Coca-Cola Co.	COM	191216100	234	6,041	SH		SOLE		6,041	0	5,791
Colgate-Palmolive Co.	COM	194162103	287	4,427	SH		SOLE		4,427	0	4,427
Comcast Corp.	COM	20030n101	5,464	109,198	SH		SOLE		109,198	0	106,463
Comerica Inc.	COM	200340107	4,347	83,915	SH		SOLE		83,915	0	83,915
Connecticut Water Service, Inc	COM	207797101	268	7,831	SH		SOLE		7,831	0	7,831
ConocoPhillips	COM	20825c104	638	9,071	SH		SOLE		9,071	0	9,071
Covidien PLC	COM	G2554F113	261	3,542	SH		SOLE		3,542	0	3,542
DaVita Inc.	COM	23918K108	1,657	24,071	SH		SOLE		24,071	0	23,901
Delta Air Lines, Inc.	COM	247361702	10,015	289,025	SH		SOLE		289,025	0	284,845
Denbury Resources Inc.	COM	247916208	407	24,800	SH		SOLE		24,800	0	24,800
Discover Financial Services	COM	254709108	11,095	190,664	SH		SOLE		190,664	0	188,864
Dominion Resources	COM	25746u109	1,741	24,527	SH		SOLE		24,527	0	24,372
Dow Chemical Co.	COM	260543103	206	4,230	SH		SOLE		4,230	0	4,230
Du Pont (E.I.) de Nemours	COM	263534109	1,595	23,773	SH		SOLE		23,773	0	23,773
EMC Corp.	COM	268648102	228	8,330	SH		SOLE		8,330	0	8,330
EOG Resources, Inc.	COM	26875P101	16,583	84,533	SH		SOLE		84,533	0	83,408
Eastman Chemical Co.	COM	277432100	916	10,630	SH		SOLE		10,630	0	10,630
Eaton Corp PLC	COM	G29183103	13,921	185,320	SH		SOLE		185,320	0	182,985
Enterprise Products Partners	COM	293792107	1,208	17,419	SH		SOLE		17,419	0	16,269
EverBank Financial	COM	29977G102	2,303	116,750	SH		SOLE		116,750	0	115,500
Evercore Partners, Inc.	COM	29977A105	8,949	161,972	SH		SOLE		161,972	0	159,522
Express Scripts Holding Compan	COM	30219G108	2,128	28,342	SH		SOLE		28,342	0	28,162
Exxon Mobil Corp.	COM	30231g102	4,467	45,734	SH		SOLE		45,734	0	45,464
FedEx Corp.	COM	31428x106	572	4,318	SH		SOLE		4,318	0	4,318
Fifth Third Bancorp	COM	316773100	416	18,133	SH		SOLE		18,133	0	18,133
Finisar Corporation	COM	31787A507	2,980	112,405	SH		SOLE		112,405	0	112,405
First Trust Dow Jones Internet	COM	33733E302	2,941	49,812	SH		SOLE		49,812	0	49,342
Flowserve Corp.	COM	34354P105	1,874	23,925	SH		SOLE		23,925	0	23,784
Footlocker, Inc.	COM	344849104	7,824	166,535	SH		SOLE		166,535	0	163,610
Fortune Brands Home & Security	COM	34964C106	306	7,261	SH		SOLE		7,261	0	7,261
Gannett Co.	COM	364730101	1,810	65,573	SH		SOLE		65,573	0	65,223
General Electric Co.	COM	369604103	2,820	108,926	SH		SOLE		108,926	0	108,566
General Mills, Inc.	COM	370334104	455	8,778	SH		SOLE		8,778	0	7,428
Genworth Financial Inc.	COM	37247d106	2,147	121,120	SH		SOLE		121,120	0	120,110
Gilead Sciences Inc.	COM	375558103	14,367	202,754	SH		SOLE		202,754	0	200,379
Golar LNG Partners LP	COM	Y2745C102	257	8,600	SH		SOLE		8,600	0	8,600
Google, Inc.	COM	38259p508	21,361	19,166	SH		SOLE		19,166	0	18,897
Grifols, S.A.	COM	398438408	9,683	234,455	SH		SOLE		234,455	0	230,805
Hain Celestial Group Inc.	COM	405217100	4,276	46,773	SH		SOLE		46,773	0	46,668
Halliburton Co.	COM	406216101	4,281	72,688	SH		SOLE		72,688	0	72,058
Henry Schein, Inc.	COM	806407102	3,319	27,805	SH		SOLE		27,805	0	27,625
Hexcel Corp.	COM	428291108	16,173	371,462	SH		SOLE		371,462	0	365,827
Highwoods Properties, Inc.	COM	431284108	5,765	150,082	SH		SOLE		150,082	0	146,582
HollyFrontier Corp.	COM	436106108	3,467	72,859	SH		SOLE		72,859	0	72,159
Home Properties, Inc.	COM	437306103	268	4,452	SH		SOLE		4,452	0	4,452
Honeywell International, Inc.	COM	438516106	1,209	13,039	SH		SOLE		13,039	0	13,039
IDEXX Laboratories, Inc.	COM	45168D104	427	3,519	SH		SOLE		3,519	0	3,519
IPG Photonics Corp.	COM	44980x109	751	10,568	SH		SOLE		10,568	0	10,468
Int'l Business Machines Corp.	COM	459200101	1,498	7,782	SH		SOLE		7,782	0	7,782
International Paper Co.	COM	460146103	1,421	30,980	SH		SOLE		30,980	0	30,765
Invesco Ltd.	COM	G491BT108	2,269	61,323	SH		SOLE		61,323	0	60,953
J.P. Morgan Chase & Co.	COM	46625h100	3,353	55,228	SH		SOLE		55,228	0	54,908
Johnson & Johnson	COM	478160104	1,764	17,957	SH		SOLE		17,957	0	17,957
Johnson Controls, Inc.	COM	478366107	6,378	134,777	SH		SOLE		134,777	0	134,302
Kimberly-Clark Corp.	COM	494368103	564	5,115	SH		SOLE		5,115	0	5,115
LSI Corporation	COM	502161102	2,656	239,894	SH		SOLE		239,894	0	237,644
Lincoln National Corp.	COM	534187109	5,647	111,450	SH		SOLE		111,450	0	110,565
Lowe's Companies, Inc.	COM	548661107	4,949	101,198	SH		SOLE		101,198	0	100,223
LyondellBasell Industries NV	COM	N53745100	2,979	33,490	SH		SOLE		33,490	0	33,160
M&T Bank Corp.	COM	55261F104	2,702	22,275	SH		SOLE		22,275	0	22,130
Markel Corp.	COM	570535104	328	550	SH		SOLE		550	0	550
Marsh & McLennan	COM	571748102	2,118	42,967	SH		SOLE		42,967	0	41,567
MasTec, Inc.	COM	576323109	16,616	382,509	SH		SOLE		382,509	0	376,924
McDonald's Corp.	COM	580135101	538	5,490	SH		SOLE		5,490	0	4,740
McKesson Corp.	COM	58155q103	15,313	86,723	SH		SOLE		86,723	0	85,508
Merck & Co., Inc.	COM	58933Y105	2,257	39,751	SH		SOLE		39,751	0	39,751
Mesabi Trust	COM	590672101	215	10,192	SH		SOLE		10,192	0	10,192
Microsoft Corp.	COM	594918104	5,395	131,607	SH		SOLE		131,607	0	128,807
Minerco Resources, Inc.	COM	603173303	6	171,821	SH		SOLE		171,821	0	171,821
Mohawk Industries, Inc.	COM	608190104	14,339	105,451	SH		SOLE		105,451	0	104,069
Mondelez International, Inc.	COM	609207105	214	6,204	SH		SOLE		6,204	0	3,914
Morgan Stanley	COM	617446448	16,617	533,100	SH		SOLE		533,100	0	526,205
NextEra Energy, Inc.	COM	65339F101	3,513	36,735	SH		SOLE		36,735	0	35,755
Nike, Inc.	COM	654106103	353	4,780	SH		SOLE		4,780	0	3,880
Norfolk Southern Corp.	COM	655844108	1,683	17,320	SH		SOLE		17,320	0	17,220
Novartis AG - Sponsored ADR	COM	66987v109	5,604	65,910	SH		SOLE		65,910	0	65,335
NuStar Energy LP	COM	67058h102	452	8,224	SH		SOLE		8,224	0	8,224
ONE Gas, Inc.	COM	68235P108	1,551	43,164	SH		SOLE		43,164	0	42,403
ONEOK Inc.	COM	682680103	13,079	220,745	SH		SOLE		220,745	0	217,495
ONEOK Partners, LP	COM	68268n103	328	6,125	SH		SOLE		6,125	0	6,125
Old Dominion Freight Lines	COM	679580100	4,772	84,095	SH		SOLE		84,095	0	83,870
Owens Corning Inc.	COM	690742101	3,500	81,067	SH		SOLE		81,067	0	80,392
PNC Financial Services Group	COM	693475105	1,495	17,182	SH		SOLE		17,182	0	17,182
PP&L Corporation	COM	69351T106	1,021	30,810	SH		SOLE		30,810	0	30,510
PSB Holdings, Inc.	COM	69360w108	187	28,200	SH		SOLE		28,200	0	28,200
Pattern Energy Group Inc.	COM	70338p100	6,576	242,380	SH		SOLE		242,380	0	240,255
PepsiCo, Inc.	COM	713448108	1,011	12,108	SH		SOLE		12,108	0	12,108
Pfizer, Inc.	COM	717081103	827	25,751	SH		SOLE		25,751	0	25,751
Philip Morris International, I	COM	718172109	418	5,100	SH		SOLE		5,100	0	1,225
Phillips 66	COM	718546104	2,744	35,606	SH		SOLE		35,606	0	35,281
Pioneer Natural Resources Co.	COM	723787107	561	3,000	SH		SOLE		3,000	0	3,000
Portland General Electric Comp	COM	736508847	675	20,864	SH		SOLE		20,864	0	20,864
PowerShares QQQ - Nasdaq 100 I	COM	73935A104	5,749	65,570	SH		SOLE		65,570	0	65,295
Priceline.com, Inc.	COM	741503403	6,580	5,521	SH		SOLE		5,521	0	5,431
Procter & Gamble Co.	COM	742718109	2,905	36,037	SH		SOLE		36,037	0	35,487
Prudential Financial, Inc.	COM	744320102	12,721	150,283	SH		SOLE		150,283	0	148,073
Qualcomm,Inc.	COM	747525103	4,625	58,654	SH		SOLE		58,654	0	57,379
Rockwood Holdings, Inc.	COM	774415103	10,083	135,530	SH		SOLE		135,530	0	133,905
Ross Stores, Inc.	COM	778296103	1,635	22,845	SH		SOLE		22,845	0	22,725
SPDR KBW Regional Banking ETF	COM	78464A698	13,966	337,504	SH		SOLE		337,504	0	333,429
SPDR S&P Biotech ETF	COM	78464A870	2,780	19,512	SH		SOLE		19,512	0	19,329
Save the World Air, Inc.	COM	805147105	25	28,000	SH		SOLE		28,000	0	20,000
Scripps Networks Interactive	COM	811065101	5,283	69,600	SH		SOLE		69,600	0	68,850
Seagate Technology	COM	g7945m107	3,145	55,997	SH		SOLE		55,997	0	55,682
Skechers USA Inc.	COM	830566105	343	9,375	SH		SOLE		9,375	0	9,375
Starbucks Corp.	COM	855244109	1,446	19,700	SH		SOLE		19,700	0	19,585
Statoil ASA ADR	COM	85771P102	2,752	97,536	SH		SOLE		97,536	0	97,536
SunPower Corporation	COM	867652406	1,796	55,685	SH		SOLE		55,685	0	55,210
SunTrust Banks	COM	867914103	4,375	109,956	SH		SOLE		109,956	0	107,521
Synaptics, Inc.	COM	87157d109	11,764	196,007	SH		SOLE		196,007	0	193,222
T-Mobile US, Inc.	COM	872590104	1,583	47,917	SH		SOLE		47,917	0	47,622
T. Rowe Price Group, Inc.	COM	74144t108	3,392	41,190	SH		SOLE		41,190	0	40,815
TRW Automotive Holdings Corp.	COM	87264S106	8,788	107,669	SH		SOLE		107,669	0	106,314
Terex Corp.	COM	880779103	2,778	62,705	SH		SOLE		62,705	0	62,155
Total Systems Services	COM	891906109	3,456	113,660	SH		SOLE		113,660	0	112,260
Union Pacific Corp.	COM	907818108	15,790	84,139	SH		SOLE		84,139	0	82,934
United Rentals Inc.	COM	911363109	9,772	102,925	SH		SOLE		102,925	0	101,275
United Technologies Corp.	COM	913017109	343	2,935	SH		SOLE		2,935	0	2,485
UnitedHealth Group Inc.	COM	91324p102	6,865	83,734	SH		SOLE		83,734	0	83,044
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	1,564	19,059	SH		SOLE		19,059	0	18,854
V. F. Corp.	COM	918204108	16,270	262,928	SH		SOLE		262,928	0	260,248
Valero Energy Corp.	COM	91913Y100	1,183	22,275	SH		SOLE		22,275	0	22,125
Verizon Communications	COM	92343v104	5,518	116,001	SH		SOLE		116,001	0	113,786
Visa, Inc. Class A	COM	92826C839	19,890	92,141	SH		SOLE		92,141	0	90,890
WESCO International, Inc.	COM	95082P105	622	7,471	SH		SOLE		7,471	0	7,341
Wabtec Corporation	COM	929740108	6,559	84,635	SH		SOLE		84,635	0	83,635
Walgreen Co.	COM	931422109	2,231	33,786	SH		SOLE		33,786	0	33,631
Walt Disney Co.	COM	254687106	9,679	120,881	SH		SOLE		120,881	0	118,561
Wells Fargo & Co.	COM	949746101	3,642	73,221	SH		SOLE		73,221	0	71,821
Whiting Petroleum Corp.	COM	966387102	8,991	129,565	SH		SOLE		129,565	0	127,715
Whole Foods Market, Inc.	COM	966837106	1,411	27,822	SH		SOLE		27,822	0	27,682
Williams Cos.,Inc.	COM	969457100	1,950	48,047	SH		SOLE		48,047	0	47,582
Williams-Sonoma, Inc.	COM	969904101	1,760	26,415	SH		SOLE		26,415	0	26,255
Wolverine World Wide, Inc.	COM	978097103	3,719	130,273	SH		SOLE		130,273	0	129,123
Zulily, Inc.	COM	989774104	1,225	24,410	SH		SOLE		24,410	0	23,410
eBay, Inc.	COM	278642103	4,123	74,632	SH		SOLE		74,632	0	74,007
iShares DJ US Aerospace & Defe	COM	464288760	327	3,000	SH		SOLE		3,000	0	3,000
Guggenheim S&P 500 Equal Weigh	GUG S&P 500 EQ WT	78355w106	6,924	94,865	SH		SOLE		94,865	0	94,865
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	5,895	31,521	SH		SOLE		31,521	0	31,231
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	239	3,245	SH		SOLE		3,245	0	3,245
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,513	6,038	SH		SOLE		6,038	0	5,958
Vanguard Dividend Appreciation	VANGUARD SPECIALIZED PORTFOL	921908844	291	3,871	SH		SOLE		3,871	0	3,871
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	307	4,860	SH		SOLE		4,860	0	4,860
Vanguard Small Cap ETF	SMALL CP ETF	922908751	1,768	15,652	SH		SOLE		15,652	0	15,652
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,006	10,316	SH		SOLE		10,316	0	10,316
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,510	17,447	SH		SOLE		17,447	0	17,447
iShares Russell 2000 Index Fun	ISHARES	464287655	452	3,889	SH		SOLE		3,889	0	3,839
iShares Russell 3000 Index Fun	ISHARES	464287689	494	4,400	SH		SOLE		4,400	0	4,400
iShares S&P 100 Index Fund	ISHARES	464287101	272	3,280	SH		SOLE		3,280	0	3,180
iShares S&P 500 Index Fund	ISHARES	464287200	257	1,368	SH		SOLE		1,368	0	1,368
iShares S&P MidCap 400 Index F	S&P MC 400 GRW	464287507	1,508	10,969	SH		SOLE		10,969	0	10,969
iShares S&P SmallCap 600 Index	ISHARES	464287804	4,561	41,407	SH		SOLE		41,407	0	41,047
Vanguard European ETF	VANGUARD INTL EQUITY INDEX F	922042874	933	15,828	SH		SOLE		15,828	0	14,528
Vanguard FTSE All-Wld ex-US Sm	VANGUARD INTL EQUITY INDEX F	922042718	5,185	48,524	SH		SOLE		48,524	0	47,359
Vanguard Intl Equity Index F	VANGUARD INTL EQUITY INDEX F	922042775	374	7,436	SH		SOLE		7,436	0	7,436
Vanguard MSCI EAFE ETF	VANGUARD TAX MANAGED INTL FD	921943858	710	17,210	SH		SOLE		17,210	0	17,210
Vanguard MSCI Emerging Markets	VANGUARD INTL EQUITY INDEX F	922042858	458	11,279	SH		SOLE		11,279	0	11,279
iShares MSCI EAFE Index Fund	ISHARES	464287465	2,790	41,519	SH		SOLE		41,519	0	41,254
iShares MSCI Germany Index	ISHARES	464286806	1,591	50,763	SH		SOLE		50,763	0	50,438
iShares MSCI Mexico Index	ISHARES	464286822	3,099	48,456	SH		SOLE		48,456	0	47,806
iShares MSCI Spain Index	ISHARES	464286764	1,730	42,408	SH		SOLE		42,408	0	42,178
Principled Equity Market Fund	PRINCIPLED EQUITY MARKET FD	742959109	12,855	604,351	SH		SOLE		604,351	0	604,351