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	372	2,623	SH		SOLE		2,623	0	2,623
AT&T Inc.	COM	00206R102	7,880	241,878	SH		SOLE		239,780	0	239,780
AbbVie, Inc.	COM	00287Y109	6,868	126,236	SH		SOLE		124,586	0	124,586
Abbott Laboratories	COM	002824100	6,020	149,689	SH		SOLE		148,039	0	148,039
Accenture plc	COM	G1151C101	15,999	162,827	SH		SOLE		160,827	0	160,827
Advance Auto Parts, Inc.	COM	00751Y106	17,553	92,613	SH		SOLE		91,488	0	91,488
Aetna Inc	COM	00817y108	447	4,089	SH		SOLE		4,089	0	4,089
Akamai Technologies, Inc.	COM	00971t101	12,377	179,223	SH		SOLE		177,703	0	177,703
Alaska Air Group, Inc.	COM	011659109	2,477	31,179	SH		SOLE		31,089	0	31,089
Allergan plc	COM	G0177J108	6,793	24,992	SH		SOLE		24,563	0	24,563
Alphabet, Inc. Class A	COM	02079K305	19,244	30,145	SH		SOLE		29,857	0	29,857
Alphabet, Inc. Class C	COM	02079K107	8,735	14,356	SH		SOLE		14,110	0	14,110
Altria Group, Inc	COM	02209s103	214	3,936	SH		SOLE		1,856	0	1,856
American Water Works Co., Inc.	COM	030420103	15,387	279,366	SH		SOLE		276,201	0	276,201
Apple, Inc.	COM	037833100	28,359	257,106	SH		SOLE		253,778	0	253,778
Ares Capital Corp.	COM	04010L103	6,530	450,937	SH		SOLE		443,237	0	443,237
Ashland, Inc.	COM	044209104	13,185	131,035	SH		SOLE		129,380	0	129,380
Automatic Data Processing, Inc	COM	053015103	606	7,537	SH		SOLE		7,537	0	7,537
Avago Technologies Limited	COM	Y0486S104	20,327	162,604	SH		SOLE		160,679	0	160,679
Bard (C.R.), Inc.	COM	067383109	9,606	51,562	SH		SOLE		51,032	0	51,032
Berkshire Hathaway Inc., Class	COM	084670702	2,104	16,138	SH		SOLE		16,063	0	16,063
Biogen, Inc.	COM	09062x103	8,255	28,289	SH		SOLE		27,899	0	27,899
Blackstone Mortgage Trust, Inc	COM	09257w100	14,247	519,209	SH		SOLE		515,529	0	515,529
Boston Beer Company, Inc. - Cl	COM	100557107	289	1,372	SH		SOLE		1,372	0	1,372
Brinker Intl	COM	109641100	1,939	36,822	SH		SOLE		36,472	0	36,472
Bristol-Myers Squibb Co.	COM	110122108	1,490	25,172	SH		SOLE		25,172	0	25,172
CIGNA Corp.	COM	125509109	2,600	19,258	SH		SOLE		19,158	0	19,158
CVS Health Corporation	COM	126650100	25,870	268,134	SH		SOLE		264,769	0	264,769
Celgene Corp	COM	151020104	14,208	131,351	SH		SOLE		129,621	0	129,621
Charles River Laboratories Int	COM	159864107	11,095	174,670	SH		SOLE		172,595	0	172,595
Chevron Corp.	COM	166764100	581	7,369	SH		SOLE		7,369	0	7,369
Chipotle Mexican Grill, Inc.	COM	169656105	362	502	SH		SOLE		502	0	502
Colgate-Palmolive Co.	COM	194162103	228	3,599	SH		SOLE		3,599	0	3,599
Comcast Corp.	COM	20030n101	9,206	161,849	SH		SOLE		159,064	0	159,064
Connecticut Water Service, Inc	COM	207797101	293	8,031	SH		SOLE		8,031	0	8,031
Costco Wholesale	COM	22160K105	6,304	43,606	SH		SOLE		42,946	0	42,946
Crown Castle International Cor	COM	22822V101	3,139	39,798	SH		SOLE		39,603	0	39,603
Darden Restaurants	COM	237194105	307	4,478	SH		SOLE		4,478	0	4,478
Delphi Automotive PLC	COM	G27823106	2,916	38,344	SH		SOLE		38,254	0	38,254
Delta Air Lines, Inc.	COM	247361702	9,412	209,767	SH		SOLE		206,017	0	206,017
Discover Financial Services	COM	254709108	9,291	178,698	SH		SOLE		177,398	0	177,398
Dominion Resources	COM	25746u109	1,599	22,713	SH		SOLE		22,713	0	22,713
EMC Corp.	COM	268648102	257	10,638	SH		SOLE		10,638	0	10,638
EOG Resources, Inc.	COM	26875P101	13,826	189,913	SH		SOLE		187,628	0	187,628
Eaton Corp PLC	COM	G29183103	2,579	50,267	SH		SOLE		50,047	0	50,047
Enterprise Prods Partners L	COM	293792107	716	28,742	SH		SOLE		26,442	0	26,442
Euronav SA	COM	B38564108	709	51,000	SH		SOLE		51,000	0	51,000
Eversource Energy	COM	30040w108	284	5,602	SH		SOLE		5,602	0	5,602
Express Scripts Holding Compan	COM	30219G108	2,510	30,999	SH		SOLE		30,819	0	30,819
Exxon Mobil Corp.	COM	30231g102	2,576	34,649	SH		SOLE		34,379	0	34,379
Facebook	COM	30303m102	3,275	36,428	SH		SOLE		36,273	0	36,273
First Trust Dow Jones Internet	COM	33733E302	1,848	27,964	SH		SOLE		27,804	0	27,804
Footlocker, Inc.	COM	344849104	10,273	142,745	SH		SOLE		140,830	0	140,830
Fortune Brands Home & Security	COM	34964C106	6,943	146,256	SH		SOLE		144,311	0	144,311
General Electric Co.	COM	369604103	837	33,172	SH		SOLE		33,172	0	33,172
General Mills, Inc.	COM	370334104	267	4,750	SH		SOLE		3,400	0	3,400
Gilead Sciences Inc.	COM	375558103	20,357	207,321	SH		SOLE		205,126	0	205,126
Golar LNG Ltd.	COM	G9456A100	1,290	46,270	SH		SOLE		46,120	0	46,120
Golar LNG Partners LP	COM	Y2745C102	329	22,450	SH		SOLE		22,450	0	22,450
HCA Inc.	COM	40412c101	2,749	35,541	SH		SOLE		35,371	0	35,371
Hain Celestial Group Inc.	COM	405217100	12,544	243,100	SH		SOLE		241,060	0	241,060
Henry Schein, Inc.	COM	806407102	3,583	26,997	SH		SOLE		26,862	0	26,862
Hexcel Corp.	COM	428291108	7,994	178,197	SH		SOLE		175,937	0	175,937
Highwoods Properties, Inc.	COM	431284108	10,784	278,308	SH		SOLE		274,323	0	274,323
Home Properties, Inc.	COM	437306103	496	6,635	SH		SOLE		6,635	0	6,635
Honeywell International, Inc.	COM	438516106	1,221	12,897	SH		SOLE		12,897	0	12,897
Host Hotels & Resorts Inc.	COM	44107p104	1,277	80,760	SH		SOLE		80,760	0	80,760
IDEXX Laboratories, Inc.	COM	45168D104	434	5,840	SH		SOLE		5,840	0	5,840
Int'l Business Machines Corp.	COM	459200101	627	4,322	SH		SOLE		4,322	0	4,322
International Paper Co.	COM	460146103	2,108	55,776	SH		SOLE		55,476	0	55,476
Invesco Ltd.	COM	G491BT108	1,452	46,484	SH		SOLE		46,114	0	46,114
J.P. Morgan Chase & Co.	COM	46625h100	3,090	50,687	SH		SOLE		50,470	0	50,470
Johnson & Johnson	COM	478160104	1,225	13,125	SH		SOLE		13,125	0	13,125
Johnson Controls, Inc.	COM	478366107	1,668	40,321	SH		SOLE		40,321	0	40,321
Kimberly-Clark Corp.	COM	494368103	200	1,837	SH		SOLE		1,837	0	1,837
Kinder Morgan, Inc.	COM	49456b101	1,115	40,268	SH		SOLE		39,933	0	39,933
Kroger Co.	COM	501044101	1,704	47,250	SH		SOLE		47,050	0	47,050
Lennar Corp.	COM	526057104	1,138	23,647	SH		SOLE		23,647	0	23,647
Lincoln National Corp.	COM	534187109	10,929	230,268	SH		SOLE		229,348	0	229,348
Lithia Motors, Inc.	COM	536797103	1,041	9,625	SH		SOLE		9,530	0	9,530
Lockheed Martin Corp.	COM	539830109	3,273	15,789	SH		SOLE		15,719	0	15,719
Lowe's Companies, Inc.	COM	548661107	11,684	169,533	SH		SOLE		167,722	0	167,722
LyondellBasell Industries NV	COM	N53745100	365	4,379	SH		SOLE		4,379	0	4,379
Macy's Inc.	COM	55616p104	975	18,998	SH		SOLE		18,878	0	18,878
Market Vectors Global Alternat	COM	57061R593	317	6,380	SH		SOLE		6,380	0	6,380
Marsh & McLennan	COM	571748102	2,111	40,423	SH		SOLE		39,023	0	39,023
McKesson Corp.	COM	58155q103	18,491	99,938	SH		SOLE		98,791	0	98,791
Medtronic PLC	COM	G5960L103	319	4,758	SH		SOLE		4,758	0	4,758
Merck & Co., Inc.	COM	58933Y105	1,796	36,354	SH		SOLE		36,354	0	36,354
Microsoft Corp.	COM	594918104	6,693	151,223	SH		SOLE		148,423	0	148,423
Mondelez International, Inc.	COM	609207105	230	5,487	SH		SOLE		3,197	0	3,197
Morgan Stanley	COM	617446448	15,926	505,589	SH		SOLE		499,289	0	499,289
NXP Semiconductors NV	COM	N6596X109	11,831	135,878	SH		SOLE		134,478	0	134,478
NextEra Energy, Inc.	COM	65339F101	4,103	42,059	SH		SOLE		41,079	0	41,079
Nielsen Holdings, PLC	COM	G6518L108	9,773	219,760	SH		SOLE		216,560	0	216,560
Nike, Inc.	COM	654106103	579	4,705	SH		SOLE		3,805	0	3,805
Norfolk Southern Corp.	COM	655844108	1,399	18,315	SH		SOLE		18,215	0	18,215
Novartis AG - Sponsored ADR	COM	66987v109	5,056	55,007	SH		SOLE		54,527	0	54,527
NuStar Energy LP	COM	67058h102	355	7,924	SH		SOLE		7,924	0	7,924
ONE Gas, Inc.	COM	68235P108	1,096	24,173	SH		SOLE		24,111	0	24,111
ONEOK Inc.	COM	682680103	451	14,002	SH		SOLE		14,002	0	14,002
Old Dominion Freight Lines	COM	679580100	4,687	76,843	SH		SOLE		76,843	0	76,843
PNC Financial Services Group	COM	693475105	1,389	15,572	SH		SOLE		15,572	0	15,572
PSB Holdings, Inc.	COM	69360w108	124	13,200	SH		SOLE		13,200	0	13,200
Pattern Energy Group Inc.	COM	70338p100	8,686	454,991	SH		SOLE		451,366	0	451,366
PepsiCo, Inc.	COM	713448108	952	10,097	SH		SOLE		10,097	0	10,097
Pfizer, Inc.	COM	717081103	736	23,419	SH		SOLE		23,419	0	23,419
Philip Morris International, I	COM	718172109	381	4,801	SH		SOLE		1,286	0	1,286
Phillips 66	COM	718546104	1,501	19,529	SH		SOLE		19,439	0	19,439
PowerShares QQQ - Nasdaq 100 I	COM	73935A104	7,321	71,942	SH		SOLE		71,742	0	71,742
PowerShares S&P Small Cap Cons	COM	73937B506	239	4,995	SH		SOLE		4,995	0	4,995
Powershares Wilderhill Clean E	COM	73935x500	87	21,300	SH		SOLE		21,300	0	21,300
Procter & Gamble Co.	COM	742718109	1,327	18,447	SH		SOLE		17,897	0	17,897
Prudential Financial, Inc.	COM	744320102	4,472	58,674	SH		SOLE		57,224	0	57,224
Rite Aid	COM	767754104	1,187	195,625	SH		SOLE		194,425	0	194,425
SPDR KBW Regional Banking ETF	COM	78464A698	9,503	230,756	SH		SOLE		227,581	0	227,581
SPDR S&P Biotech ETF	COM	78464A870	1,713	27,522	SH		SOLE		27,162	0	27,162
SPDR S&P Homebuilders ETF	COM	78464A888	694	20,275	SH		SOLE		20,275	0	20,275
Scripps Networks Interactive	COM	811065101	672	13,665	SH		SOLE		13,665	0	13,665
Simon Property Group, Inc.	COM	828806109	1,711	9,311	SH		SOLE		9,266	0	9,266
Skechers USA Inc.	COM	830566105	513	3,824	SH		SOLE		3,824	0	3,824
Stryker Corp.	COM	863667101	7,905	84,010	SH		SOLE		82,785	0	82,785
SunTrust Banks	COM	867914103	511	13,350	SH		SOLE		12,050	0	12,050
Synaptics, Inc.	COM	87157d109	10,897	132,145	SH		SOLE		129,930	0	129,930
T-Mobile US, Inc.	COM	872590104	1,649	41,421	SH		SOLE		41,126	0	41,126
Target Corp.	COM	87612e106	16,535	210,212	SH		SOLE		208,432	0	208,432
Teekay Tankers Ltd.	COM	Y8565N102	4,648	673,661	SH		SOLE		663,761	0	663,761
The Kraft Heinz Company	COM	500754106	280	3,966	SH		SOLE		3,203	0	3,203
Total System Services, Inc.	COM	891906109	3,060	67,355	SH		SOLE		67,355	0	67,355
Union Pacific Corp.	COM	907818108	8,996	101,754	SH		SOLE		100,359	0	100,359
United Rentals Inc.	COM	911363109	1,025	17,067	SH		SOLE		16,967	0	16,967
United Technologies Corp.	COM	913017109	337	3,788	SH		SOLE		3,338	0	3,338
UnitedHealth Group Inc.	COM	91324p102	7,703	66,397	SH		SOLE		65,167	0	65,167
Universal Health Services, Inc	COM	913903100	2,979	23,868	SH		SOLE		23,763	0	23,763
V. F. Corp.	COM	918204108	20,247	296,835	SH		SOLE		293,730	0	293,730
Valero Energy Corp.	COM	91913Y100	13,200	219,640	SH		SOLE		216,980	0	216,980
Vanguard REIT ETF	COM	922908553	472	6,243	SH		SOLE		6,243	0	6,243
Verizon Communications	COM	92343v104	4,507	103,579	SH		SOLE		101,554	0	101,554
Visa, Inc. Class A	COM	92826C839	24,968	358,424	SH		SOLE		354,044	0	354,044
Wabtec Corporation	COM	929740108	6,910	78,481	SH		SOLE		77,481	0	77,481
Walgreens Boots Alliance, Inc.	COM	931427108	2,186	26,306	SH		SOLE		26,226	0	26,226
Walt Disney Co.	COM	254687106	11,952	116,950	SH		SOLE		115,010	0	115,010
Wells Fargo & Co.	COM	949746101	4,743	92,360	SH		SOLE		90,960	0	90,960
Weyerhaeuser Co.	COM	962166104	7,859	287,437	SH		SOLE		283,737	0	283,737
Whiting Petroleum Corp.	COM	966387102	358	23,465	SH		SOLE		23,465	0	23,465
Williams Cos.,Inc.	COM	969457100	2,079	56,411	SH		SOLE		56,166	0	56,166
Williams-Sonoma, Inc.	COM	969904101	2,136	27,974	SH		SOLE		27,814	0	27,814
XPO Logistics, Inc.	COM	983793100	1,795	75,343	SH		SOLE		74,958	0	74,958
Guggenheim S&P 500 Equal Weigh	GUG S&P500 EQ WT	78355w106	6,841	93,003	SH		SOLE		93,003	0	93,003
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	6,033	31,483	SH		SOLE		31,243	0	31,243
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	358	4,965	SH		SOLE		4,965	0	4,965
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,464	5,882	SH		SOLE		5,802	0	5,802
Vanguard Dividend Appreciation	DIV APP ETF	921908844	358	4,849	SH		SOLE		4,849	0	4,849
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	232	3,710	SH		SOLE		3,710	0	3,710
Vanguard Small Cap ETF	SMALL CP ETF	922908751	1,910	17,691	SH		SOLE		17,691	0	17,691
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,421	14,390	SH		SOLE		14,390	0	14,390
iShares KLD 400 Social Index F	MSCI KLD400 SOC	464288570	308	4,335	SH		SOLE		4,335	0	4,335
iShares MSCI USA Quality Facto	MSCI USA QLT FAC	46432f339	1,065	17,625	SH		SOLE		17,625	0	17,625
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,567	16,851	SH		SOLE		16,851	0	16,851
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	587	5,150	SH		SOLE		5,150	0	5,150
iShares S&P 100 Index Fund	S&P 100 IDX FD	464287101	203	2,400	SH		SOLE		2,300	0	2,300
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	303	1,570	SH		SOLE		1,570	0	1,570
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	2,430	17,788	SH		SOLE		17,788	0	17,788
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	4,539	42,596	SH		SOLE		42,236	0	42,236
Vanguard European ETF	MSCI EUROPE ETF	922042874	401	8,157	SH		SOLE		6,857	0	6,857
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	1,118	12,323	SH		SOLE		12,323	0	12,323
WisdomTree Europe Hedged Equit	EUROPE HEDGED EQ	97717X701	759	13,896	SH		SOLE		13,896	0	13,896