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	446	2,891	SH		SOLE		2,891	0	2,891
AT&T Inc.	COM	00206R102	8,536	240,310	SH		SOLE		238,212	0	238,212
AbbVie, Inc.	COM	00287Y109	8,523	126,848	SH		SOLE		125,198	0	125,198
Abbott Laboratories	COM	002824100	7,347	149,689	SH		SOLE		148,039	0	148,039
Accenture plc	COM	G1151C101	15,684	162,057	SH		SOLE		160,057	0	160,057
Advance Auto Parts, Inc.	COM	00751Y106	15,380	96,556	SH		SOLE		95,307	0	95,307
Akamai Technologies, Inc.	COM	00971t101	12,478	178,723	SH		SOLE		177,203	0	177,203
Alaska Air Group, Inc.	COM	011659109	2,413	37,451	SH		SOLE		37,326	0	37,326
Allergan plc	COM	G0177J108	7,025	23,149	SH		SOLE		22,720	0	22,720
American Airlines Group Inc.	COM	02376r102	3,095	77,490	SH		SOLE		77,390	0	77,390
American Water Works Co., Inc.	COM	030420103	13,702	281,757	SH		SOLE		278,192	0	278,192
Apple, Inc.	COM	037833100	32,301	257,531	SH		SOLE		254,178	0	254,178
Ares Capital Corp.	COM	04010L103	7,530	457,462	SH		SOLE		449,762	0	449,762
Ashland, Inc.	COM	044209104	15,734	129,075	SH		SOLE		127,220	0	127,220
Automatic Data Processing, Inc	COM	053015103	1,482	18,477	SH		SOLE		18,362	0	18,362
Avago Technologies Limited	COM	Y0486S104	21,668	163,001	SH		SOLE		161,076	0	161,076
Bard (C.R.), Inc.	COM	067383109	7,875	46,131	SH		SOLE		45,601	0	45,601
Berkshire Hathaway Inc., Class	COM	084670108	205	1	SH		SOLE		1	0	1
Berkshire Hathaway Inc., Class	COM	084670702	2,047	15,038	SH		SOLE		14,963	0	14,963
Biogen, Inc.	COM	09062x103	11,449	28,344	SH		SOLE		27,954	0	27,954
Blackstone Mortgage Trust, Inc	COM	09257w100	13,517	485,869	SH		SOLE		482,444	0	482,444
Borg Warner Automotive	COM	099724106	8,259	145,309	SH		SOLE		143,959	0	143,959
Boston Beer Company, Inc. - Cl	COM	100557107	325	1,400	SH		SOLE		1,400	0	1,400
Brinker Intl	COM	109641100	2,163	37,527	SH		SOLE		37,177	0	37,177
Bristol-Myers Squibb Co.	COM	110122108	1,702	25,572	SH		SOLE		25,572	0	25,572
CIGNA Corp.	COM	125509109	2,923	18,045	SH		SOLE		17,945	0	17,945
CVS Health Corporation	COM	126650100	28,990	276,409	SH		SOLE		272,769	0	272,769
Cambridge Bancorp	COM	132152109	1,381	30,050	SH		SOLE		30,050	0	30,050
Celgene Corp	COM	151020104	15,316	132,336	SH		SOLE		130,606	0	130,606
Charles River Laboratories Int	COM	159864107	11,980	170,320	SH		SOLE		168,245	0	168,245
Chevron Corp.	COM	166764100	705	7,304	SH		SOLE		7,304	0	7,304
Chipotle Mexican Grill, Inc.	COM	169656105	317	524	SH		SOLE		524	0	524
Colgate-Palmolive Co.	COM	194162103	232	3,549	SH		SOLE		3,549	0	3,549
Comcast Corp.	COM	20030n101	10,363	172,317	SH		SOLE		169,532	0	169,532
Connecticut Water Service, Inc	COM	207797101	274	8,031	SH		SOLE		8,031	0	8,031
Crown Castle International Cor	COM	22822V101	1,789	22,277	SH		SOLE		22,182	0	22,182
DaVita Inc.	COM	23918K108	850	10,692	SH		SOLE		10,692	0	10,692
Darden Restaurants	COM	237194105	318	4,478	SH		SOLE		4,478	0	4,478
Delphi Automotive PLC	COM	G27823106	2,749	32,309	SH		SOLE		32,234	0	32,234
Delta Air Lines, Inc.	COM	247361702	8,810	214,472	SH		SOLE		210,722	0	210,722
Deutsche Telekom AG	COM	251566105	584	33,900	SH		SOLE		33,900	0	33,900
Discover Financial Services	COM	254709108	10,443	181,244	SH		SOLE		179,944	0	179,944
Dominion Resources	COM	25746u109	1,597	23,876	SH		SOLE		23,876	0	23,876
Dow Chemical Co.	COM	260543103	219	4,276	SH		SOLE		4,276	0	4,276
EMC Corp.	COM	268648102	281	10,638	SH		SOLE		10,638	0	10,638
EOG Resources, Inc.	COM	26875P101	17,021	194,411	SH		SOLE		192,126	0	192,126
Eaton Corp PLC	COM	G29183103	3,661	54,245	SH		SOLE		54,025	0	54,025
Enterprise Products Partners	COM	293792107	926	30,967	SH		SOLE		28,667	0	28,667
Euronav SA	COM	B38564108	755	51,000	SH		SOLE		51,000	0	51,000
Eversource Energy	COM	30040w108	238	5,248	SH		SOLE		5,248	0	5,248
Express Scripts Holding Compan	COM	30219G108	1,484	16,687	SH		SOLE		16,587	0	16,587
Exxon Mobil Corp.	COM	30231g102	2,837	34,104	SH		SOLE		33,834	0	33,834
Facebook	COM	30303m102	3,564	41,557	SH		SOLE		41,357	0	41,357
First Trust Dow Jones Internet	COM	33733E302	1,921	28,584	SH		SOLE		28,424	0	28,424
Footlocker, Inc.	COM	344849104	10,115	150,940	SH		SOLE		148,975	0	148,975
Fortune Brands Home & Security	COM	34964C106	1,546	33,732	SH		SOLE		33,532	0	33,532
General Electric Co.	COM	369604103	757	28,509	SH		SOLE		28,509	0	28,509
General Mills, Inc.	COM	370334104	265	4,750	SH		SOLE		3,400	0	3,400
Gilead Sciences Inc.	COM	375558103	24,267	207,268	SH		SOLE		205,073	0	205,073
Golar LNG Ltd.	COM	G9456A100	486	10,390	SH		SOLE		10,390	0	10,390
Golar LNG Partners LP	COM	Y2745C102	597	24,200	SH		SOLE		24,200	0	24,200
Google, Inc. Class A	COM	38259p508	16,189	29,977	SH		SOLE		29,689	0	29,689
Google, Inc. Class C	COM	38259P706	7,802	14,990	SH		SOLE		14,744	0	14,744
HCA Inc.	COM	40412c101	3,369	37,141	SH		SOLE		36,971	0	36,971
Hain Celestial Group Inc.	COM	405217100	16,036	243,480	SH		SOLE		241,440	0	241,440
Henry Schein, Inc.	COM	806407102	3,931	27,659	SH		SOLE		27,524	0	27,524
Hexcel Corp.	COM	428291108	7,159	143,928	SH		SOLE		142,258	0	142,258
Highwoods Properties, Inc.	COM	431284108	11,159	279,334	SH		SOLE		275,349	0	275,349
Home Properties, Inc.	COM	437306103	480	6,568	SH		SOLE		6,568	0	6,568
Honeywell International, Inc.	COM	438516106	1,310	12,847	SH		SOLE		12,847	0	12,847
Host Hotels & Resorts Inc.	COM	44107p104	11,264	568,028	SH		SOLE		561,278	0	561,278
IDEXX Laboratories, Inc.	COM	45168D104	382	5,960	SH		SOLE		5,960	0	5,960
Int'l Business Machines Corp.	COM	459200101	711	4,372	SH		SOLE		4,372	0	4,372
International Paper Co.	COM	460146103	2,721	57,176	SH		SOLE		56,876	0	56,876
Invesco Ltd.	COM	G491BT108	1,774	47,309	SH		SOLE		46,939	0	46,939
J.P. Morgan Chase & Co.	COM	46625h100	3,535	52,175	SH		SOLE		51,958	0	51,958
Johnson & Johnson	COM	478160104	1,266	12,987	SH		SOLE		12,987	0	12,987
Johnson Controls, Inc.	COM	478366107	1,910	38,571	SH		SOLE		38,571	0	38,571
Kinder Morgan, Inc.	COM	49456b101	1,781	46,383	SH		SOLE		46,048	0	46,048
Kraft Foods Group, Inc.	COM	50076Q106	336	3,950	SH		SOLE		3,187	0	3,187
Kroger Co.	COM	501044101	1,569	21,645	SH		SOLE		21,545	0	21,545
Lincoln National Corp.	COM	534187109	13,750	232,187	SH		SOLE		231,267	0	231,267
Lithia Motors, Inc.	COM	536797103	1,158	10,230	SH		SOLE		10,135	0	10,135
Lockheed Martin Corp.	COM	539830109	3,099	16,670	SH		SOLE		16,590	0	16,590
Lowe's Companies, Inc.	COM	548661107	9,746	145,531	SH		SOLE		144,191	0	144,191
Macy's Inc.	COM	55616p104	1,313	19,463	SH		SOLE		19,343	0	19,343
Market Vectors Global Alternat	COM	57061R593	373	6,105	SH		SOLE		6,105	0	6,105
Marsh & McLennan	COM	571748102	2,352	41,478	SH		SOLE		40,078	0	40,078
McKesson Corp.	COM	58155q103	22,707	101,007	SH		SOLE		99,860	0	99,860
Medtronic PLC	COM	G5960L103	341	4,598	SH		SOLE		4,598	0	4,598
Merck & Co., Inc.	COM	58933Y105	2,092	36,754	SH		SOLE		36,754	0	36,754
Microsoft Corp.	COM	594918104	6,297	142,635	SH		SOLE		139,835	0	139,835
Mondelez International, Inc.	COM	609207105	224	5,437	SH		SOLE		3,147	0	3,147
Morgan Stanley	COM	617446448	20,301	523,369	SH		SOLE		516,369	0	516,369
NXP Semiconductors NV	COM	N6596X109	13,451	136,975	SH		SOLE		135,575	0	135,575
NextEra Energy, Inc.	COM	65339F101	4,161	42,448	SH		SOLE		41,468	0	41,468
Nielsen N.V.	COM	N63218106	1,579	35,260	SH		SOLE		35,260	0	35,260
Nike, Inc.	COM	654106103	508	4,705	SH		SOLE		3,805	0	3,805
Norfolk Southern Corp.	COM	655844108	1,537	17,590	SH		SOLE		17,490	0	17,490
Novartis AG - Sponsored ADR	COM	66987v109	5,450	55,417	SH		SOLE		54,937	0	54,937
NuStar Energy LP	COM	67058h102	478	8,049	SH		SOLE		8,049	0	8,049
ONE Gas, Inc.	COM	68235P108	1,110	26,081	SH		SOLE		25,719	0	25,719
ONEOK Inc.	COM	682680103	3,006	76,151	SH		SOLE		74,701	0	74,701
Oklahoma Gas & Elec.	COM	670837103	210	7,340	SH		SOLE		7,340	0	7,340
Old Dominion Freight Lines	COM	679580100	5,530	80,600	SH		SOLE		80,490	0	80,490
Orange	COM	684060106	353	23,010	SH		SOLE		23,010	0	23,010
PNC Financial Services Group	COM	693475105	1,489	15,572	SH		SOLE		15,572	0	15,572
PSB Holdings, Inc.	COM	69360w108	107	13,200	SH		SOLE		13,200	0	13,200
Pattern Energy Group Inc.	COM	70338p100	12,814	451,527	SH		SOLE		447,902	0	447,902
PepsiCo, Inc.	COM	713448108	943	10,108	SH		SOLE		10,108	0	10,108
Pfizer, Inc.	COM	717081103	785	23,419	SH		SOLE		23,419	0	23,419
Philip Morris International, I	COM	718172109	385	4,801	SH		SOLE		1,286	0	1,286
Phillips 66	COM	718546104	683	8,474	SH		SOLE		8,384	0	8,384
PowerShares QQQ - Nasdaq 100 I	COM	73935A104	7,849	73,303	SH		SOLE		73,103	0	73,103
Powershares Wilderhill Clean E	COM	73935x500	115	21,300	SH		SOLE		21,300	0	21,300
Procter & Gamble Co.	COM	742718109	1,628	20,807	SH		SOLE		20,257	0	20,257
Prudential Financial, Inc.	COM	744320102	6,257	71,496	SH		SOLE		69,946	0	69,946
Rite Aid	COM	767754104	1,633	195,625	SH		SOLE		194,425	0	194,425
SPDR KBW Regional Banking ETF	COM	78464A698	6,751	152,886	SH		SOLE		151,136	0	151,136
SPDR S&P Biotech ETF	COM	78464A870	2,425	9,615	SH		SOLE		9,495	0	9,495
SPDR S&P Homebuilders ETF	COM	78464A888	749	20,450	SH		SOLE		20,450	0	20,450
Save the World Air, Inc.	COM	805147105	9	28,000	SH		SOLE		20,000	0	20,000
Scripps Networks Interactive	COM	811065101	984	15,055	SH		SOLE		15,055	0	15,055
Seagate Technology	COM	g7945m107	2,419	50,919	SH		SOLE		50,674	0	50,674
Simon Property Group, Inc.	COM	828806109	1,513	8,742	SH		SOLE		8,697	0	8,697
Skechers USA Inc.	COM	830566105	502	4,569	SH		SOLE		4,569	0	4,569
Stryker Corp.	COM	863667101	8,010	83,808	SH		SOLE		82,583	0	82,583
SunTrust Banks	COM	867914103	574	13,350	SH		SOLE		12,050	0	12,050
Synaptics, Inc.	COM	87157d109	13,521	155,889	SH		SOLE		153,539	0	153,539
T-Mobile US, Inc.	COM	872590104	856	22,074	SH		SOLE		21,779	0	21,779
T. Rowe Price Group, Inc.	COM	74144t108	7,693	98,976	SH		SOLE		98,076	0	98,076
Target Corp.	COM	87612e106	15,753	192,976	SH		SOLE		191,196	0	191,196
Teekay Tankers Ltd.	COM	Y8565N102	4,504	681,396	SH		SOLE		671,496	0	671,496
Total System Services, Inc.	COM	891906109	2,695	64,530	SH		SOLE		64,530	0	64,530
Union Pacific Corp.	COM	907818108	10,841	113,672	SH		SOLE		112,200	0	112,200
United Rentals Inc.	COM	911363109	7,486	85,439	SH		SOLE		84,229	0	84,229
United Technologies Corp.	COM	913017109	400	3,606	SH		SOLE		3,156	0	3,156
UnitedHealth Group Inc.	COM	91324p102	8,272	67,805	SH		SOLE		66,575	0	66,575
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	3,665	25,794	SH		SOLE		25,669	0	25,669
V. F. Corp.	COM	918204108	20,779	297,943	SH		SOLE		294,838	0	294,838
Valero Energy Corp.	COM	91913Y100	15,639	249,824	SH		SOLE		246,339	0	246,339
Vanguard REIT ETF	COM	922908553	583	7,810	SH		SOLE		7,810	0	7,810
Verizon Communications	COM	92343v104	4,743	101,757	SH		SOLE		99,732	0	99,732
Visa, Inc. Class A	COM	92826C839	24,403	363,405	SH		SOLE		358,965	0	358,965
Wabtec Corporation	COM	929740108	7,525	79,851	SH		SOLE		78,851	0	78,851
Walgreens Boots Alliance, Inc.	COM	931427108	2,240	26,526	SH		SOLE		26,446	0	26,446
Walt Disney Co.	COM	254687106	13,208	115,714	SH		SOLE		113,774	0	113,774
Wells Fargo & Co.	COM	949746101	5,203	92,513	SH		SOLE		91,113	0	91,113
Weyerhaeuser Co.	COM	962166104	13,342	423,554	SH		SOLE		418,104	0	418,104
Whiting Petroleum Corp.	COM	966387102	369	10,995	SH		SOLE		10,995	0	10,995
Williams Cos.,Inc.	COM	969457100	3,200	55,752	SH		SOLE		55,507	0	55,507
Williams-Sonoma, Inc.	COM	969904101	2,301	27,974	SH		SOLE		27,814	0	27,814
Worlds, Inc.	COM	98159J101	2	16,500	SH		SOLE		16,500	0	16,500
XPO Logistics, Inc.	COM	983793100	3,544	78,437	SH		SOLE		78,052	0	78,052
Guggenheim S&P 500 Equal Weigh	GUG S&P500 EQ WT	78355w106	8,306	104,089	SH		SOLE		104,089	0	104,089
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	7,189	34,923	SH		SOLE		34,683	0	34,683
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	387	5,075	SH		SOLE		5,075	0	5,075
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,634	5,979	SH		SOLE		5,899	0	5,899
Vanguard Dividend Appreciation	DIV APP ETF	921908844	418	5,324	SH		SOLE		5,324	0	5,324
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	256	3,810	SH		SOLE		3,810	0	3,810
Vanguard Small Cap ETF	SMALL CP ETF	922908751	2,153	17,724	SH		SOLE		17,724	0	17,724
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,484	13,870	SH		SOLE		13,870	0	13,870
iShares KLD 400 Social Index F	MSCI KLD400 SOC	464288570	330	4,335	SH		SOLE		4,335	0	4,335
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,697	17,135	SH		SOLE		17,135	0	17,135
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	612	4,935	SH		SOLE		4,935	0	4,935
iShares S&P 100 Index Fund	S&P 100 IDX FD	464287101	250	2,750	SH		SOLE		2,650	0	2,650
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	284	1,370	SH		SOLE		1,370	0	1,370
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	2,724	18,164	SH		SOLE		18,164	0	18,164
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	5,055	42,879	SH		SOLE		42,519	0	42,519
Vanguard European ETF	MSCI EUROPE ETF	922042874	427	7,902	SH		SOLE		6,602	0	6,602
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	4,824	47,328	SH		SOLE		46,223	0	46,223
VanguardIntl Equity Index F	ALLWRLD EX US	922042775	258	5,319	SH		SOLE		5,319	0	5,319
Vanguard MSCI EAFE ETF	MSCI EAFE ETF	921943858	504	12,719	SH		SOLE		12,719	0	12,719
Vanguard MSCI Emerging Markets	FTSE EMR MKT ETF	922042858	344	8,405	SH		SOLE		8,405	0	8,405