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	318	1,938	SH		SOLE		1,938	0	1,938
ARC Resources Ltd.	COM	00208D408	266	12,250	SH		SOLE		10,400	0	10,400
AT&T Inc.	COM	00206R102	7,672	228,407	SH		SOLE		226,309	0	226,309
AbbVie, Inc.	COM	00287Y109	7,977	121,897	SH		SOLE		120,247	0	120,247
Abbott Laboratories	COM	002824100	5,083	112,912	SH		SOLE		111,262	0	111,262
Accenture PLC	COM	G1151C101	13,273	148,621	SH		SOLE		146,596	0	146,596
Advance Auto Parts, Inc.	COM	00751Y106	12,149	76,275	SH		SOLE		75,216	0	75,216
Akamai Technologies, Inc.	COM	00971t101	11,007	174,832	SH		SOLE		173,412	0	173,412
Alaska Air Group, Inc.	COM	011659109	2,424	40,554	SH		SOLE		40,374	0	40,374
American Airlines Group Inc.	COM	02376r102	10,920	203,616	SH		SOLE		201,711	0	201,711
American Water Works Co., Inc.	COM	030420103	15,311	287,252	SH		SOLE		283,652	0	283,652
Apple, Inc.	COM	037833100	31,495	285,337	SH		SOLE		281,634	0	281,634
Ares Capital Corp.	COM	04010L103	9,071	581,306	SH		SOLE		573,106	0	573,106
Ashland, Inc.	COM	044209104	13,189	110,127	SH		SOLE		108,297	0	108,297
Automatic Data Processing, Inc	COM	053015103	1,601	19,207	SH		SOLE		19,092	0	19,092
Avago Technologies Limited	COM	Y0486S104	20,514	203,940	SH		SOLE		201,240	0	201,240
Bard (C.R.), Inc.	COM	067383109	5,218	31,314	SH		SOLE		30,739	0	30,739
Berkshire Hathaway Inc., Class	COM	084670108	226	1	SH		SOLE		1	0	1
Berkshire Hathaway Inc., Class	COM	084670702	2,423	16,140	SH		SOLE		16,065	0	16,065
Biogen IDEC, Inc.	COM	09062x103	8,225	24,230	SH		SOLE		23,875	0	23,875
Blackstone Mortgage Trust, Inc	COM	09257w100	13,317	457,015	SH		SOLE		453,590	0	453,590
Borg Warner Automotive	COM	099724106	8,651	157,435	SH		SOLE		155,950	0	155,950
Boston Beer Company, Inc. - Cl	COM	100557107	405	1,400	SH		SOLE		1,400	0	1,400
Brinker Intl	COM	109641100	2,187	37,272	SH		SOLE		36,922	0	36,922
Bristol-Myers Squibb Co.	COM	110122108	1,526	25,845	SH		SOLE		25,845	0	25,845
CIGNA Corp.	COM	125509109	2,393	23,254	SH		SOLE		23,154	0	23,154
CVS Health Corporation	COM	126650100	29,354	304,788	SH		SOLE		300,638	0	300,638
Celgene Corp	COM	151020104	14,125	126,278	SH		SOLE		124,348	0	124,348
Charles River Laboratories Int	COM	159864107	2,859	44,930	SH		SOLE		44,430	0	44,430
Chart Industries, Inc.	COM	16115Q308	634	18,535	SH		SOLE		18,535	0	18,535
Chevron Corp.	COM	166764100	2,409	21,474	SH		SOLE		21,199	0	21,199
Chipotle Mexican Grill, Inc.	COM	169656105	960	1,402	SH		SOLE		1,390	0	1,390
Colgate-Palmolive Co.	COM	194162103	301	4,344	SH		SOLE		4,344	0	4,344
Comcast Corp.	COM	20030n101	9,969	171,857	SH		SOLE		169,072	0	169,072
Comerica Inc.	COM	200340107	948	20,230	SH		SOLE		20,230	0	20,230
Connecticut Water Service, Inc	COM	207797101	291	8,031	SH		SOLE		8,031	0	8,031
ConocoPhillips	COM	20825c104	228	3,296	SH		SOLE		3,296	0	3,296
Covidien PLC	COM	G2554F113	362	3,542	SH		SOLE		3,542	0	3,542
DaVita Inc.	COM	23918K108	1,888	24,923	SH		SOLE		24,753	0	24,753
Delta Air Lines, Inc.	COM	247361702	15,996	325,193	SH		SOLE		320,663	0	320,663
Discover Financial Services	COM	254709108	14,302	218,388	SH		SOLE		216,238	0	216,238
Dominion Resources	COM	25746u109	3,482	45,281	SH		SOLE		45,066	0	45,066
Dow Chemical Co.	COM	260543103	672	14,740	SH		SOLE		14,740	0	14,740
Du Pont (E.I.) de Nemours	COM	263534109	242	3,276	SH		SOLE		3,276	0	3,276
EOG Resources, Inc.	COM	26875P101	16,283	176,856	SH		SOLE		174,681	0	174,681
Eaton Corp PLC	COM	G29183103	1,970	28,990	SH		SOLE		28,890	0	28,890
Enterprise Products Partners	COM	293792107	1,174	32,512	SH		SOLE		30,212	0	30,212
EverBank Financial	COM	29977G102	2,128	111,672	SH		SOLE		110,872	0	110,872
Express Scripts Holding Compan	COM	30219G108	1,401	16,551	SH		SOLE		16,371	0	16,371
Exxon Mobil Corp.	COM	30231g102	3,393	36,705	SH		SOLE		36,435	0	36,435
Facebook	COM	30303m102	1,824	23,382	SH		SOLE		23,277	0	23,277
First Trust Dow Jones Internet	COM	33733E302	1,775	28,952	SH		SOLE		28,792	0	28,792
Footlocker, Inc.	COM	344849104	10,105	179,874	SH		SOLE		177,054	0	177,054
Fortune Brands Home & Security	COM	34964C106	1,325	29,267	SH		SOLE		29,067	0	29,067
Gannett Co.	COM	364730101	1,890	59,191	SH		SOLE		58,841	0	58,841
General Electric Co.	COM	369604103	817	32,348	SH		SOLE		32,348	0	32,348
General Mills, Inc.	COM	370334104	291	5,450	SH		SOLE		4,100	0	4,100
Gilead Sciences Inc.	COM	375558103	20,389	216,302	SH		SOLE		214,032	0	214,032
Golar LNG Partners LP	COM	Y2745C102	547	17,550	SH		SOLE		17,550	0	17,550
Google, Inc. Class A	COM	38259p508	14,008	26,397	SH		SOLE		26,110	0	26,110
Google, Inc. Class C	COM	38259P706	8,989	17,077	SH		SOLE		16,831	0	16,831
HCA Inc.	COM	40412c101	1,493	20,343	SH		SOLE		20,238	0	20,238
Hain Celestial Group Inc.	COM	405217100	11,040	189,394	SH		SOLE		187,814	0	187,814
Halliburton Co.	COM	406216101	1,086	27,617	SH		SOLE		27,457	0	27,457
Henry Schein, Inc.	COM	806407102	3,710	27,250	SH		SOLE		27,115	0	27,115
Hexcel Corp.	COM	428291108	6,613	159,382	SH		SOLE		157,032	0	157,032
Highwoods Properties, Inc.	COM	431284108	10,521	237,594	SH		SOLE		233,494	0	233,494
Home Properties, Inc.	COM	437306103	426	6,494	SH		SOLE		6,494	0	6,494
Honeywell International, Inc.	COM	438516106	1,297	12,976	SH		SOLE		12,976	0	12,976
Host Hotels & Resorts Inc.	COM	44107p104	13,644	573,981	SH		SOLE		567,231	0	567,231
IDEXX Laboratories, Inc.	COM	45168D104	516	3,479	SH		SOLE		3,479	0	3,479
Int'l Business Machines Corp.	COM	459200101	1,025	6,390	SH		SOLE		6,390	0	6,390
Intel Corp.	COM	458140100	259	7,125	SH		SOLE		7,125	0	7,125
International Paper Co.	COM	460146103	2,950	55,050	SH		SOLE		54,695	0	54,695
Invesco Ltd.	COM	G491BT108	1,883	47,658	SH		SOLE		47,288	0	47,288
J.P. Morgan Chase & Co.	COM	46625h100	3,537	56,513	SH		SOLE		56,251	0	56,251
Johnson & Johnson	COM	478160104	1,406	13,450	SH		SOLE		13,450	0	13,450
Johnson Controls, Inc.	COM	478366107	4,521	93,530	SH		SOLE		93,055	0	93,055
Lincoln National Corp.	COM	534187109	7,740	134,204	SH		SOLE		133,234	0	133,234
Lithia Motors, Inc.	COM	536797103	897	10,348	SH		SOLE		10,253	0	10,253
Lockheed Martin Corp.	COM	539830109	3,117	16,186	SH		SOLE		16,106	0	16,106
Lowe's Companies, Inc.	COM	548661107	6,238	90,669	SH		SOLE		89,999	0	89,999
LyondellBasell Industries NV	COM	N53745100	1,587	19,994	SH		SOLE		19,884	0	19,884
M&T Bank Corp.	COM	55261F104	2,491	19,826	SH		SOLE		19,681	0	19,681
Macy's Inc.	COM	55616p104	722	10,983	SH		SOLE		10,983	0	10,983
Marsh & McLennan	COM	571748102	2,414	42,178	SH		SOLE		40,778	0	40,778
MasTec, Inc.	COM	576323109	1,138	50,328	SH		SOLE		49,333	0	49,333
McDonald's Corp.	COM	580135101	402	4,290	SH		SOLE		3,540	0	3,540
McKesson Corp.	COM	58155q103	20,915	100,758	SH		SOLE		99,576	0	99,576
Merck & Co., Inc.	COM	58933Y105	2,111	37,165	SH		SOLE		37,165	0	37,165
Microsoft Corp.	COM	594918104	6,279	135,173	SH		SOLE		132,373	0	132,373
Mondelez International, Inc.	COM	609207105	204	5,627	SH		SOLE		3,337	0	3,337
Morgan Stanley	COM	617446448	21,780	561,346	SH		SOLE		554,256	0	554,256
NextEra Energy, Inc.	COM	65339F101	4,698	44,197	SH		SOLE		43,217	0	43,217
Nike, Inc.	COM	654106103	452	4,705	SH		SOLE		3,805	0	3,805
Norfolk Southern Corp.	COM	655844108	1,843	16,815	SH		SOLE		16,715	0	16,715
Novartis AG - Sponsored ADR	COM	66987v109	5,491	59,257	SH		SOLE		58,682	0	58,682
NuStar Energy LP	COM	67058h102	465	8,049	SH		SOLE		8,049	0	8,049
ONE Gas, Inc.	COM	68235P108	1,385	33,603	SH		SOLE		32,879	0	32,879
ONEOK Inc.	COM	682680103	11,857	238,139	SH		SOLE		234,939	0	234,939
ONEOK Partners, LP	COM	68268n103	243	6,125	SH		SOLE		6,125	0	6,125
Old Dominion Freight Lines	COM	679580100	9,324	120,095	SH		SOLE		119,870	0	119,870
Omnivision Technologies, Inc.	COM	682128103	1,059	40,740	SH		SOLE		40,740	0	40,740
Orange	COM	684060106	398	23,550	SH		SOLE		23,550	0	23,550
PNC Financial Services Group	COM	693475105	1,460	16,004	SH		SOLE		16,004	0	16,004
PSB Holdings, Inc.	COM	69360w108	103	13,200	SH		SOLE		13,200	0	13,200
Pattern Energy Group Inc.	COM	70338p100	10,557	428,106	SH		SOLE		424,231	0	424,231
PepsiCo, Inc.	COM	713448108	1,022	10,808	SH		SOLE		10,808	0	10,808
Pfizer, Inc.	COM	717081103	711	22,824	SH		SOLE		22,824	0	22,824
Philip Morris International, I	COM	718172109	479	5,885	SH		SOLE		2,085	0	2,085
Portland General Electric Comp	COM	736508847	201	5,314	SH		SOLE		5,314	0	5,314
PowerShares QQQ - Nasdaq 100 I	COM	73935A104	6,960	67,409	SH		SOLE		67,209	0	67,209
Powershares Wilderhill Clean E	COM	73935x500	129	24,410	SH		SOLE		24,410	0	24,410
Priceline.com, Inc.	COM	741503403	2,495	2,188	SH		SOLE		2,188	0	2,188
Procter & Gamble Co.	COM	742718109	2,698	29,624	SH		SOLE		29,074	0	29,074
Prudential Financial, Inc.	COM	744320102	6,477	71,605	SH		SOLE		70,055	0	70,055
Qualcomm,Inc.	COM	747525103	2,700	36,325	SH		SOLE		35,325	0	35,325
Rite Aid	COM	767754104	1,444	192,025	SH		SOLE		190,825	0	190,825
Rockwood Holdings, Inc.	COM	774415103	10,162	128,953	SH		SOLE		127,328	0	127,328
SPDR KBW Regional Banking ETF	COM	78464A698	3,877	95,259	SH		SOLE		93,059	0	93,059
SPDR S&P Biotech ETF	COM	78464A870	2,306	12,367	SH		SOLE		12,232	0	12,232
SPDR S&P Homebuilders ETF	COM	78464A888	278	8,150	SH		SOLE		8,150	0	8,150
Save the World Air, Inc.	COM	805147105	13	28,000	SH		SOLE		20,000	0	20,000
Scripps Networks Interactive	COM	811065101	5,154	68,480	SH		SOLE		67,730	0	67,730
Seagate Technology	COM	g7945m107	3,492	52,517	SH		SOLE		52,272	0	52,272
Starbucks Corp.	COM	855244109	211	2,572	SH		SOLE		2,572	0	2,572
Statoil ASA ADR	COM	85771P102	264	15,010	SH		SOLE		15,010	0	15,010
Stryker Corp.	COM	863667101	7,685	81,468	SH		SOLE		80,243	0	80,243
SunTrust Banks	COM	867914103	666	15,900	SH		SOLE		14,000	0	14,000
Synaptics, Inc.	COM	87157d109	12,436	180,658	SH		SOLE		178,203	0	178,203
T-Mobile US, Inc.	COM	872590104	626	23,223	SH		SOLE		22,928	0	22,928
T. Rowe Price Group, Inc.	COM	74144t108	9,055	105,458	SH		SOLE		104,558	0	104,558
TRW Automotive Holdings Corp.	COM	87264S106	8,384	81,516	SH		SOLE		80,416	0	80,416
Tata Motors Ltd. ADRs	COM	876568502	1,547	36,584	SH		SOLE		36,379	0	36,379
Teekay Tankers Ltd.	COM	Y8565N102	1,154	228,110	SH		SOLE		226,610	0	226,610
Total Systems Services	COM	891906109	1,247	36,710	SH		SOLE		36,710	0	36,710
Union Pacific Corp.	COM	907818108	19,669	165,105	SH		SOLE		162,695	0	162,695
United Rentals Inc.	COM	911363109	9,633	94,436	SH		SOLE		93,241	0	93,241
United Technologies Corp.	COM	913017109	385	3,351	SH		SOLE		2,901	0	2,901
UnitedHealth Group Inc.	COM	91324p102	8,489	83,971	SH		SOLE		82,366	0	82,366
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	2,211	19,870	SH		SOLE		19,745	0	19,745
V. F. Corp.	COM	918204108	20,304	271,077	SH		SOLE		267,947	0	267,947
Valero Energy Corp.	COM	91913Y100	6,758	136,534	SH		SOLE		134,484	0	134,484
Valspar Corp.	COM	920355104	284	3,285	SH		SOLE		3,285	0	3,285
Vanguard REIT ETF	COM	922908553	760	9,380	SH		SOLE		9,280	0	9,280
Verizon Communications	COM	92343v104	5,312	113,559	SH		SOLE		111,344	0	111,344
Visa, Inc. Class A	COM	92826C839	23,549	89,814	SH		SOLE		88,584	0	88,584
Wabtec Corporation	COM	929740108	7,705	88,678	SH		SOLE		87,678	0	87,678
Walgreens Boots Alliance, Inc.	COM	931427108	822	10,790	SH		SOLE		10,790	0	10,790
Walt Disney Co.	COM	254687106	10,673	113,311	SH		SOLE		110,991	0	110,991
Wells Fargo & Co.	COM	949746101	3,958	72,207	SH		SOLE		70,807	0	70,807
Weyerhaeuser Co.	COM	962166104	5,823	162,244	SH		SOLE		161,669	0	161,669
Whiting Petroleum Corp.	COM	966387102	4,205	127,412	SH		SOLE		125,867	0	125,867
Williams Cos.,Inc.	COM	969457100	1,714	38,132	SH		SOLE		37,947	0	37,947
Williams-Sonoma, Inc.	COM	969904101	2,080	27,488	SH		SOLE		27,328	0	27,328
Wolverine World Wide, Inc.	COM	978097103	1,417	48,080	SH		SOLE		47,680	0	47,680
XPO Logistics, Inc.	COM	983793100	3,097	75,762	SH		SOLE		75,377	0	75,377
Zulily, Inc.	COM	989774104	969	41,430	SH		SOLE		41,430	0	41,430
iShares Dow Jones Transportati	COM	464287192	1,045	6,370	SH		SOLE		6,335	0	6,335
Guggenheim S&P 500 Equal Weigh	GUG S&P500 EQ WT	78355w106	7,898	98,660	SH		SOLE		98,660	0	98,660
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	6,846	33,308	SH		SOLE		33,068	0	33,068
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	400	5,075	SH		SOLE		5,075	0	5,075
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,581	5,989	SH		SOLE		5,909	0	5,909
Vanguard Dividend Appreciation	DIV APP ETF	921908844	406	5,007	SH		SOLE		5,007	0	5,007
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	296	4,310	SH		SOLE		4,310	0	4,310
Vanguard Small Cap ETF	SMALL CP ETF	922908751	1,786	15,307	SH		SOLE		15,307	0	15,307
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,342	12,662	SH		SOLE		12,662	0	12,662
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,472	15,395	SH		SOLE		15,395	0	15,395
iShares Russell 2000 Index Fun	RUSSELL 2000	464287655	251	2,099	SH		SOLE		2,049	0	2,049
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	533	4,355	SH		SOLE		4,355	0	4,355
iShares S&P 100 Index Fund	S&P 100 IDX FD	464287101	259	2,850	SH		SOLE		2,750	0	2,750
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	287	1,388	SH		SOLE		1,388	0	1,388
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	2,221	15,339	SH		SOLE		15,339	0	15,339
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	4,812	42,184	SH		SOLE		41,824	0	41,824
Vanguard European ETF	MSCI EUROPE ETF	922042874	414	7,902	SH		SOLE		6,602	0	6,602
VANGUARD INTL EQUITY INDEX F	FTSE SMCAP ETF	922042718	5,505	57,754	SH		SOLE		56,589	0	56,589
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	253	5,409	SH		SOLE		5,409	0	5,409
Vanguard MSCI EAFE ETF	MSCI EAFE ETF	921943858	559	14,766	SH		SOLE		14,766	0	14,766
Vanguard MSCI Emerging Markets	FTSE EMR MKT ETF	922042858	464	11,585	SH		SOLE		11,585	0	11,585