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
AT&T Inc.	COM	00206R102	8,681	245,503	SH		SOLE		245,503	0	245,503
AbbVie, Inc.	COM	00287Y109	6,806	120,592	SH		SOLE		120,592	0	120,592
Abbott Laboratories	COM	002824100	4,559	111,472	SH		SOLE		111,472	0	111,472
Accenture PLC	COM	G1151C101	12,039	148,923	SH		SOLE		148,923	0	148,923
Advance Auto Parts, Inc.	COM	00751Y106	5,791	42,922	SH		SOLE		42,922	0	42,922
American Airlines Group Inc.	COM	02376r102	8,638	201,072	SH		SOLE		201,072	0	201,072
American Water Works Co., Inc.	COM	030420103	12,617	255,142	SH		SOLE		255,142	0	255,142
Ampliphi Biosciences Corp.	COM	03211P103	66	150,000	SH		SOLE		150,000	0	150,000
Analog Devices	COM	032654105	2,411	44,587	SH		SOLE		44,587	0	44,587
Apple, Inc.	COM	037833100	26,621	286,465	SH		SOLE		286,465	0	286,465
Ares Capital Corp.	COM	04010L103	8,809	493,200	SH		SOLE		493,200	0	493,200
Ashland, Inc.	COM	044209104	13,083	120,310	SH		SOLE		120,310	0	120,310
Automatic Data Processing, Inc	COM	053015103	1,566	19,757	SH		SOLE		19,757	0	19,757
Avago Technologies Limited	COM	Y0486S104	16,321	226,460	SH		SOLE		226,460	0	226,460
Bard (C.R.), Inc.	COM	067383109	4,424	30,938	SH		SOLE		30,938	0	30,938
Berkshire Hathaway Inc., Class	COM	084670108	380	2	SH		SOLE		2	0	2
Berkshire Hathaway Inc., Class	COM	084670702	2,137	16,885	SH		SOLE		16,885	0	16,885
Biogen IDEC, Inc.	COM	09062x103	7,346	23,297	SH		SOLE		23,297	0	23,297
Blackstone Mortgage Trust, Inc	COM	09257w100	11,877	409,535	SH		SOLE		409,535	0	409,535
Boeing Co.	COM	097023105	1,858	14,604	SH		SOLE		14,604	0	14,604
Borg Warner Automotive	COM	099724106	446	6,845	SH		SOLE		6,845	0	6,845
Boston Beer Company, Inc. - Cl	COM	100557107	313	1,400	SH		SOLE		1,400	0	1,400
Brinker Intl	COM	109641100	2,721	55,920	SH		SOLE		55,920	0	55,920
Bristol-Myers Squibb Co.	COM	110122108	1,261	25,992	SH		SOLE		25,992	0	25,992
CIGNA Corp.	COM	125509109	2,175	23,644	SH		SOLE		23,644	0	23,644
CVS/Caremark Corp.	COM	126650100	23,127	306,840	SH		SOLE		306,840	0	306,840
Cambridge Bancorp	COM	132152109	1,330	30,050	SH		SOLE		30,050	0	30,050
Celgene Corp	COM	151020104	11,046	128,626	SH		SOLE		128,626	0	128,626
Chart Industries, Inc.	COM	16115Q308	3,948	47,725	SH		SOLE		47,725	0	47,725
Chevron Corp.	COM	166764100	4,344	33,272	SH		SOLE		33,272	0	33,272
Chicago Bridge & Iron CO	COM	167250109	1,589	23,300	SH		SOLE		23,300	0	23,300
Coca-Cola Co.	COM	191216100	238	5,612	SH		SOLE		5,612	0	5,612
Colgate-Palmolive Co.	COM	194162103	299	4,382	SH		SOLE		4,382	0	4,382
Comcast Corp.	COM	20030n101	5,303	98,785	SH		SOLE		98,785	0	98,785
Comerica Inc.	COM	200340107	1,301	25,930	SH		SOLE		25,930	0	25,930
Connecticut Water Service, Inc	COM	207797101	272	8,031	SH		SOLE		8,031	0	8,031
ConocoPhillips	COM	20825c104	322	3,761	SH		SOLE		3,761	0	3,761
Covidien PLC	COM	G2554F113	319	3,542	SH		SOLE		3,542	0	3,542
DaVita Inc.	COM	23918K108	1,833	25,346	SH		SOLE		25,346	0	25,346
Delta Air Lines, Inc.	COM	247361702	10,919	282,000	SH		SOLE		282,000	0	282,000
Discover Financial Services	COM	254709108	11,768	189,864	SH		SOLE		189,864	0	189,864
Dominion Resources	COM	25746u109	1,730	24,183	SH		SOLE		24,183	0	24,183
Du Pont (E.I.) de Nemours	COM	263534109	1,505	23,004	SH		SOLE		23,004	0	23,004
EMC Corp.	COM	268648102	219	8,330	SH		SOLE		8,330	0	8,330
EOG Resources, Inc.	COM	26875P101	19,389	165,916	SH		SOLE		165,916	0	165,916
Eastman Chemical Co.	COM	277432100	946	10,830	SH		SOLE		10,830	0	10,830
Eaton Corp PLC	COM	G29183103	13,725	177,836	SH		SOLE		177,836	0	177,836
Enterprise Prods Partners	COM	293792107	1,358	17,351	SH		SOLE		17,351	0	17,351
EverBank Financial	COM	29977G102	2,333	115,725	SH		SOLE		115,725	0	115,725
Evercore Partners, Inc.	COM	29977A105	9,072	157,397	SH		SOLE		157,397	0	157,397
Express Scripts Holding Compan	COM	30219G108	1,157	16,692	SH		SOLE		16,692	0	16,692
Exxon Mobil Corp.	COM	30231g102	3,942	39,158	SH		SOLE		39,158	0	39,158
Finisar Corporation	COM	31787A507	452	22,905	SH		SOLE		22,905	0	22,905
First Trust Dow Jones Internet	COM	33733E302	1,694	28,430	SH		SOLE		28,430	0	28,430
Flowserve Corp.	COM	34354P105	1,745	23,472	SH		SOLE		23,472	0	23,472
Footlocker, Inc.	COM	344849104	7,582	149,485	SH		SOLE		149,485	0	149,485
Fortune Brands Home & Security	COM	34964C106	1,042	26,091	SH		SOLE		26,091	0	26,091
Gannett Co.	COM	364730101	2,030	64,823	SH		SOLE		64,823	0	64,823
General Electric Co.	COM	369604103	1,651	62,832	SH		SOLE		62,832	0	62,832
General Mills, Inc.	COM	370334104	447	8,500	SH		SOLE		8,500	0	8,500
Genworth Financial Inc.	COM	37247d106	2,152	123,690	SH		SOLE		123,690	0	123,690
Gilead Sciences Inc.	COM	375558103	16,217	195,596	SH		SOLE		195,596	0	195,596
Golar LNG Partners LP	COM	Y2745C102	580	15,750	SH		SOLE		15,750	0	15,750
Google, Inc. Class A	COM	38259p508	15,712	26,874	SH		SOLE		26,874	0	26,874
Google, Inc. Class C	COM	38259P706	10,796	18,767	SH		SOLE		18,767	0	18,767
Grifols, S.A.	COM	398438408	10,784	244,815	SH		SOLE		244,815	0	244,815
Hain Celestial Group Inc.	COM	405217100	7,756	87,400	SH		SOLE		87,400	0	87,400
Halliburton Co.	COM	406216101	4,393	61,864	SH		SOLE		61,864	0	61,864
Henry Schein, Inc.	COM	806407102	3,394	28,600	SH		SOLE		28,600	0	28,600
Hexcel Corp.	COM	428291108	15,149	370,392	SH		SOLE		370,392	0	370,392
Highwoods Properties, Inc.	COM	431284108	6,394	152,429	SH		SOLE		152,429	0	152,429
HollyFrontier Corp.	COM	436106108	2,025	46,359	SH		SOLE		46,359	0	46,359
Home Properties, Inc.	COM	437306103	285	4,452	SH		SOLE		4,452	0	4,452
Honeywell International, Inc.	COM	438516106	1,212	13,039	SH		SOLE		13,039	0	13,039
Host Hotels & Resorts Inc.	COM	44107p104	1,276	57,956	SH		SOLE		57,956	0	57,956
IDEXX Laboratories, Inc.	COM	45168D104	470	3,519	SH		SOLE		3,519	0	3,519
Int'l Business Machines Corp.	COM	459200101	1,352	7,458	SH		SOLE		7,458	0	7,458
International Paper Co.	COM	460146103	1,564	30,990	SH		SOLE		30,990	0	30,990
Invesco Ltd.	COM	G491BT108	1,805	47,803	SH		SOLE		47,803	0	47,803
J.P. Morgan Chase & Co.	COM	46625h100	3,184	55,255	SH		SOLE		55,255	0	55,255
Johnson & Johnson	COM	478160104	1,406	13,443	SH		SOLE		13,443	0	13,443
Johnson Controls, Inc.	COM	478366107	4,796	96,061	SH		SOLE		96,061	0	96,061
Kimberly-Clark Corp.	COM	494368103	524	4,715	SH		SOLE		4,715	0	4,715
Lincoln National Corp.	COM	534187109	5,043	98,035	SH		SOLE		98,035	0	98,035
Lowe's Companies, Inc.	COM	548661107	4,539	94,573	SH		SOLE		94,573	0	94,573
LyondellBasell Industries NV	COM	N53745100	3,039	31,122	SH		SOLE		31,122	0	31,122
M&T Bank Corp.	COM	55261F104	2,725	21,965	SH		SOLE		21,965	0	21,965
Macy's Inc.	COM	55616p104	339	5,845	SH		SOLE		5,845	0	5,845
Market Vectors Global Alternat	COM	57061R593	235	3,567	SH		SOLE		3,567	0	3,567
Marsh & McLennan	COM	571748102	2,193	42,315	SH		SOLE		42,315	0	42,315
MasTec, Inc.	COM	576323109	3,900	126,536	SH		SOLE		126,536	0	126,536
McDonald's Corp.	COM	580135101	553	5,490	SH		SOLE		5,490	0	5,490
McKesson Corp.	COM	58155q103	16,045	86,164	SH		SOLE		86,164	0	86,164
Merck & Co., Inc.	COM	58933Y105	2,165	37,424	SH		SOLE		37,424	0	37,424
Microsoft Corp.	COM	594918104	5,502	131,932	SH		SOLE		131,932	0	131,932
Minerco Resources, Inc.	COM	603173303	2	171,821	SH		SOLE		171,821	0	171,821
Mohawk Industries, Inc.	COM	608190104	12,488	90,269	SH		SOLE		90,269	0	90,269
Mondelez International, Inc.	COM	609207105	233	6,204	SH		SOLE		6,204	0	6,204
Morgan Stanley	COM	617446448	16,728	517,423	SH		SOLE		517,423	0	517,423
NextEra Energy, Inc.	COM	65339F101	4,614	45,027	SH		SOLE		45,027	0	45,027
Nike, Inc.	COM	654106103	371	4,780	SH		SOLE		4,780	0	4,780
Norfolk Southern Corp.	COM	655844108	1,764	17,120	SH		SOLE		17,120	0	17,120
Novartis AG - Sponsored ADR	COM	66987v109	5,258	58,082	SH		SOLE		58,082	0	58,082
NuStar Energy LP	COM	67058h102	510	8,224	SH		SOLE		8,224	0	8,224
ONE Gas, Inc.	COM	68235P108	1,540	40,782	SH		SOLE		40,782	0	40,782
ONEOK Inc.	COM	682680103	16,225	238,316	SH		SOLE		238,316	0	238,316
ONEOK Partners, LP	COM	68268n103	359	6,125	SH		SOLE		6,125	0	6,125
Old Dominion Freight Lines	COM	679580100	5,339	83,836	SH		SOLE		83,836	0	83,836
OpenTable, Inc.	COM	68372A104	7,444	71,855	SH		SOLE		71,855	0	71,855
Owens Corning Inc.	COM	690742101	2,808	72,602	SH		SOLE		72,602	0	72,602
PNC Financial Services Group	COM	693475105	1,530	17,182	SH		SOLE		17,182	0	17,182
PP&L Corporation	COM	69351T106	231	6,500	SH		SOLE		6,500	0	6,500
PSB Holdings, Inc.	COM	69360w108	155	23,000	SH		SOLE		23,000	0	23,000
Pattern Energy Group Inc.	COM	70338p100	12,843	387,890	SH		SOLE		387,890	0	387,890
PepsiCo, Inc.	COM	713448108	1,005	11,248	SH		SOLE		11,248	0	11,248
Pfizer, Inc.	COM	717081103	743	25,037	SH		SOLE		25,037	0	25,037
Philip Morris International, I	COM	718172109	390	4,625	SH		SOLE		4,625	0	4,625
Phillips 66	COM	718546104	2,992	37,199	SH		SOLE		37,199	0	37,199
Pioneer Natural Resources Co.	COM	723787107	201	875	SH		SOLE		875	0	875
Portland General Electric Comp	COM	736508847	704	20,314	SH		SOLE		20,314	0	20,314
PowerShares QQQ - Nasdaq 100 I	COM	73935A104	6,107	65,030	SH		SOLE		65,030	0	65,030
Priceline.com, Inc.	COM	741503403	5,038	4,188	SH		SOLE		4,188	0	4,188
Procter & Gamble Co.	COM	742718109	2,511	31,955	SH		SOLE		31,955	0	31,955
Prudential Financial, Inc.	COM	744320102	8,682	97,801	SH		SOLE		97,801	0	97,801
Qualcomm,Inc.	COM	747525103	4,343	54,834	SH		SOLE		54,834	0	54,834
Rockwood Holdings, Inc.	COM	774415103	9,859	129,740	SH		SOLE		129,740	0	129,740
SPDR KBW Regional Banking ETF	COM	78464A698	11,349	281,476	SH		SOLE		281,476	0	281,476
SPDR S&P Biotech ETF	COM	78464A870	1,972	12,809	SH		SOLE		12,809	0	12,809
Save the World Air, Inc.	COM	805147105	23	28,000	SH		SOLE		28,000	0	28,000
Scripps Networks Interact	COM	811065101	5,743	70,780	SH		SOLE		70,780	0	70,780
Seagate Technology	COM	g7945m107	3,272	57,577	SH		SOLE		57,577	0	57,577
Starbucks Corp.	COM	855244109	2,424	31,320	SH		SOLE		31,320	0	31,320
Statoil ASA ADR	COM	85771P102	1,071	34,725	SH		SOLE		34,725	0	34,725
Stryker Corp.	COM	863667101	6,229	73,878	SH		SOLE		73,878	0	73,878
SunPower Corporation	COM	867652406	2,720	66,364	SH		SOLE		66,364	0	66,364
SunTrust Banks	COM	867914103	3,942	98,401	SH		SOLE		98,401	0	98,401
Synaptics, Inc.	COM	87157d109	14,024	154,725	SH		SOLE		154,725	0	154,725
T-Mobile US, Inc.	COM	872590104	1,597	47,512	SH		SOLE		47,512	0	47,512
T. Rowe Price Group, Inc.	COM	74144t108	7,505	88,914	SH		SOLE		88,914	0	88,914
TRW Automotive Holdings Corp.	COM	87264S106	9,208	102,855	SH		SOLE		102,855	0	102,855
Terex Corp.	COM	880779103	1,040	25,302	SH		SOLE		25,302	0	25,302
Total Systems Services	COM	891906109	3,574	113,780	SH		SOLE		113,780	0	113,780
Union Pacific Corp.	COM	907818108	16,303	163,434	SH		SOLE		163,434	0	163,434
United Rentals Inc.	COM	911363109	11,643	111,169	SH		SOLE		111,169	0	111,169
United Technologies Corp.	COM	913017109	384	3,326	SH		SOLE		3,326	0	3,326
UnitedHealth Group Inc.	COM	91324p102	6,026	73,718	SH		SOLE		73,718	0	73,718
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	1,826	19,069	SH		SOLE		19,069	0	19,069
V. F. Corp.	COM	918204108	15,751	250,021	SH		SOLE		250,021	0	250,021
Valero Energy Corp.	COM	91913Y100	1,509	30,113	SH		SOLE		30,113	0	30,113
Verint SYS INC	COM	92343X100	208	4,240	SH		SOLE		4,240	0	4,240
Verizon Communications	COM	92343v104	5,521	112,839	SH		SOLE		112,839	0	112,839
Visa, Inc. Class A	COM	92826C839	19,162	90,942	SH		SOLE		90,942	0	90,942
Wabtec Corporation	COM	929740108	7,226	87,488	SH		SOLE		87,488	0	87,488
Waddell & Reed Financial, Inc.	COM	930059100	695	11,110	SH		SOLE		11,110	0	11,110
Walgreen Co.	COM	931422109	3,464	46,733	SH		SOLE		46,733	0	46,733
Walt Disney Co.	COM	254687106	9,618	112,176	SH		SOLE		112,176	0	112,176
Wells Fargo & Co.	COM	949746101	3,897	74,142	SH		SOLE		74,142	0	74,142
Western Digital Corp.	COM	958102105	395	4,277	SH		SOLE		4,277	0	4,277
Whiting Petroleum Corp.	COM	966387102	13,074	162,920	SH		SOLE		162,920	0	162,920
Williams Cos.,Inc.	COM	969457100	2,463	42,317	SH		SOLE		42,317	0	42,317
Williams-Sonoma, Inc.	COM	969904101	1,885	26,258	SH		SOLE		26,258	0	26,258
Wolverine World Wide, Inc.	COM	978097103	3,425	131,423	SH		SOLE		131,423	0	131,423
Zulily, Inc.	COM	989774104	1,756	42,870	SH		SOLE		42,870	0	42,870
iShares DJ US Aerospace & Defe	COM	464288760	324	3,000	SH		SOLE		3,000	0	3,000
Guggenheim S&P 500 Equal Weigh	GUG S&P500 EQ WT	78355w106	7,351	95,827	SH		SOLE		95,827	0	95,827
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	6,061	30,969	SH		SOLE		30,969	0	30,969
SPDR Series Trust	S&P DIVID ETF	78464A763	287	3,750	SH		SOLE		3,750	0	3,750
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,567	6,015	SH		SOLE		6,015	0	6,015
Vanguard Dividend Appreciation	DIV APP ETF	921908844	265	3,396	SH		SOLE		3,396	0	3,396
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	309	4,660	SH		SOLE		4,660	0	4,660
Vanguard Small Cap ETF	SMALL CP ETF	922908751	1,917	16,370	SH		SOLE		16,370	0	16,370
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,108	10,886	SH		SOLE		10,886	0	10,886
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,586	17,447	SH		SOLE		17,447	0	17,447
iShares Russell 2000 Index Fun	RUSSELL 2000	464287655	426	3,586	SH		SOLE		3,586	0	3,586
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	518	4,400	SH		SOLE		4,400	0	4,400
iShares S&P 100 Index Fund	S&P 100 IDX FD	464287101	247	2,850	SH		SOLE		2,850	0	2,850
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	269	1,368	SH		SOLE		1,368	0	1,368
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	1,642	11,479	SH		SOLE		11,479	0	11,479
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	4,834	43,127	SH		SOLE		43,127	0	43,127
Vanguard European ETF	MSCI EUROPE ETF	922042874	1,178	19,651	SH		SOLE		19,651	0	19,651
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	6,848	61,604	SH		SOLE		61,604	0	61,604
Vanguard Intl Equity Index	ALLWRLD EX US	922042775	403	7,704	SH		SOLE		7,704	0	7,704
Vanguard MSCI EAFE ETF	MSCI EAFE ETF	921943858	748	17,555	SH		SOLE		17,555	0	17,555
Vanguard MSCI Emerging Markets	FTSE EMR MKT ETF	922042858	488	11,316	SH		SOLE		11,316	0	11,316
iShares MSCI EAFE Index Fund	MSCI EAFE INDEX	464287465	2,797	40,914	SH		SOLE		40,914	0	40,914
iShares MSCI Germany Index	MSCI GERMAN	464286806	1,665	53,233	SH		SOLE		53,233	0	53,233
iShares MSCI Mexico Index	MSCI MEXICO CAP	464286822	626	9,226	SH		SOLE		9,226	0	9,226
iShares MSCI Spain Index	MSCI SPAIN CAPP	464286764	1,796	41,943	SH		SOLE		41,943	0	41,943
Principled Equity Market Fund	SH BEN INT	742959109	13,502	600,359	SH		SOLE		600,359	0	600,359