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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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	395	2,623	SH		SOLE		2,623	0	2,623
AT&T Inc.	COM	00206R102	10,800	313,861	SH		SOLE		311,763	0	311,763
AbbVie, Inc.	COM	00287Y109	8,355	141,042	SH		SOLE		139,392	0	139,392
Abbott Laboratories	COM	002824100	7,223	160,833	SH		SOLE		159,183	0	159,183
Accenture plc	COM	G1151C101	16,818	160,934	SH		SOLE		158,954	0	158,954
Advance Auto Parts, Inc.	COM	00751Y106	13,626	90,532	SH		SOLE		89,424	0	89,424
Aetna Inc	COM	00817y108	440	4,073	SH		SOLE		4,073	0	4,073
Akamai Technologies, Inc.	COM	00971t101	9,897	188,047	SH		SOLE		186,527	0	186,527
Alaska Air Group, Inc.	COM	011659109	7,076	87,889	SH		SOLE		87,224	0	87,224
Allergan plc	COM	G0177J108	8,367	26,773	SH		SOLE		26,344	0	26,344
Alphabet, Inc. Class A	COM	02079K305	26,633	34,232	SH		SOLE		33,938	0	33,938
Alphabet, Inc. Class C	COM	02079K107	7,493	9,873	SH		SOLE		9,634	0	9,634
Altria Group, Inc	COM	02209s103	248	4,257	SH		SOLE		2,177	0	2,177
American Water Works Co., Inc.	COM	030420103	15,831	264,947	SH		SOLE		261,822	0	261,822
Apple, Inc.	COM	037833100	27,732	263,462	SH		SOLE		260,134	0	260,134
Ares Capital Corp.	COM	04010L103	5,666	397,633	SH		SOLE		391,533	0	391,533
Ashland, Inc.	COM	044209104	14,399	140,207	SH		SOLE		138,492	0	138,492
Automatic Data Processing, Inc	COM	053015103	633	7,477	SH		SOLE		7,477	0	7,477
Avago Technologies Limited	COM	Y0486S104	22,561	155,429	SH		SOLE		153,504	0	153,504
Bard (C.R.), Inc.	COM	067383109	11,410	60,231	SH		SOLE		59,701	0	59,701
Berkshire Hathaway Inc., Class	COM	084670702	2,029	15,363	SH		SOLE		15,288	0	15,288
Biogen, Inc.	COM	09062x103	9,110	29,738	SH		SOLE		29,348	0	29,348
Blackstone Mortgage Trust, Inc	COM	09257w100	14,050	525,038	SH		SOLE		521,358	0	521,358
Boston Beer Company, Inc. - Cl	COM	100557107	277	1,372	SH		SOLE		1,372	0	1,372
Brinker Intl	COM	109641100	1,236	25,774	SH		SOLE		25,774	0	25,774
Bristol-Myers Squibb Co.	COM	110122108	1,633	23,739	SH		SOLE		23,739	0	23,739
CIGNA Corp.	COM	125509109	2,888	19,734	SH		SOLE		19,634	0	19,634
CVS Health Corporation	COM	126650100	26,632	272,392	SH		SOLE		269,027	0	269,027
Cambridge Bancorp	COM	132152109	1,424	30,050	SH		SOLE		30,050	0	30,050
Celgene Corp	COM	151020104	13,449	112,297	SH		SOLE		110,617	0	110,617
Charles River Laboratories Int	COM	159864107	14,441	179,640	SH		SOLE		177,565	0	177,565
Chevron Corp.	COM	166764100	2,058	22,876	SH		SOLE		22,806	0	22,806
Colgate-Palmolive Co.	COM	194162103	240	3,599	SH		SOLE		3,599	0	3,599
Comcast Corp.	COM	20030n101	14,725	260,948	SH		SOLE		257,988	0	257,988
Connecticut Water Service, Inc	COM	207797101	305	8,031	SH		SOLE		8,031	0	8,031
Costco Wholesale	COM	22160K105	10,933	67,696	SH		SOLE		66,996	0	66,996
Crown Castle International Cor	COM	22822V101	5,372	62,142	SH		SOLE		61,897	0	61,897
D. R. Horton Inc.	COM	23331a109	1,689	52,730	SH		SOLE		52,525	0	52,525
Darden Restaurants	COM	237194105	283	4,450	SH		SOLE		4,450	0	4,450
Delphi Automotive	COM	G27823106	7,705	89,874	SH		SOLE		89,334	0	89,334
Delta Air Lines, Inc.	COM	247361702	13,050	257,450	SH		SOLE		253,460	0	253,460
Deutsche Telekom AG	COM	251566105	772	43,200	SH		SOLE		43,200	0	43,200
Discover Financial Services	COM	254709108	9,732	181,498	SH		SOLE		180,198	0	180,198
Dominion Resources	COM	25746u109	1,528	22,596	SH		SOLE		22,596	0	22,596
EMC Corp.	COM	268648102	271	10,565	SH		SOLE		10,565	0	10,565
EOG Resources, Inc.	COM	26875P101	10,678	150,846	SH		SOLE		148,561	0	148,561
Eaton Corp PLC	COM	G29183103	1,649	31,693	SH		SOLE		31,573	0	31,573
Eli Lilly and Co.	COM	532457108	211	2,505	SH		SOLE		2,505	0	2,505
Enterprise Products Partners	COM	293792107	684	26,742	SH		SOLE		24,442	0	24,442
Euronav SA	COM	B38564108	856	62,400	SH		SOLE		62,400	0	62,400
Eversource Energy	COM	30040w108	286	5,602	SH		SOLE		5,602	0	5,602
Express Scripts Holding Compan	COM	30219G108	3,072	35,143	SH		SOLE		34,963	0	34,963
Exxon Mobil Corp.	COM	30231g102	2,655	34,058	SH		SOLE		33,788	0	33,788
Facebook	COM	30303m102	3,427	32,741	SH		SOLE		32,611	0	32,611
First Trust Dow Jones Internet	COM	33733E302	2,273	30,469	SH		SOLE		30,309	0	30,309
Footlocker, Inc.	COM	344849104	8,304	127,583	SH		SOLE		125,668	0	125,668
Fortune Brands Home & Security	COM	34964C106	13,812	248,862	SH		SOLE		246,787	0	246,787
General Electric Co.	COM	369604103	1,558	50,000	SH		SOLE		50,000	0	50,000
General Mills, Inc.	COM	370334104	380	6,594	SH		SOLE		5,244	0	5,244
Gilead Sciences Inc.	COM	375558103	20,091	198,551	SH		SOLE		196,356	0	196,356
Golar LNG Ltd.	COM	G9456A100	420	26,600	SH		SOLE		26,600	0	26,600
Hain Celestial Group Inc.	COM	405217100	9,363	231,826	SH		SOLE		229,786	0	229,786
Henry Schein, Inc.	COM	806407102	3,660	23,138	SH		SOLE		23,053	0	23,053
Hexcel Corp.	COM	428291108	8,369	180,174	SH		SOLE		177,914	0	177,914
Highwoods Properties, Inc.	COM	431284108	12,227	280,427	SH		SOLE		276,442	0	276,442
Home Depot, Inc.	COM	437076102	216	1,632	SH		SOLE		1,632	0	1,632
Honeywell International, Inc.	COM	438516106	1,336	12,897	SH		SOLE		12,897	0	12,897
Host Hotels & Resorts Inc.	COM	44107p104	222	14,475	SH		SOLE		14,475	0	14,475
IDEXX Laboratories, Inc.	COM	45168D104	393	5,390	SH		SOLE		5,390	0	5,390
Int'l Business Machines Corp.	COM	459200101	524	3,806	SH		SOLE		3,806	0	3,806
International Paper Co.	COM	460146103	678	17,990	SH		SOLE		17,990	0	17,990
Invesco Ltd.	COM	G491BT108	1,517	45,313	SH		SOLE		44,943	0	44,943
J.P. Morgan Chase & Co.	COM	46625h100	3,526	53,407	SH		SOLE		53,190	0	53,190
Johnson & Johnson	COM	478160104	1,388	13,510	SH		SOLE		13,510	0	13,510
Johnson Controls, Inc.	COM	478366107	297	7,516	SH		SOLE		7,516	0	7,516
Kimberly-Clark Corp.	COM	494368103	244	1,920	SH		SOLE		1,920	0	1,920
Kroger Co.	COM	501044101	3,602	86,110	SH		SOLE		85,780	0	85,780
Lennar Corp.	COM	526057104	813	16,618	SH		SOLE		16,618	0	16,618
Lincoln National Corp.	COM	534187109	11,993	238,628	SH		SOLE		237,793	0	237,793
Lithia Motors, Inc.	COM	536797103	1,437	13,467	SH		SOLE		13,372	0	13,372
Lockheed Martin Corp.	COM	539830109	3,138	14,450	SH		SOLE		14,390	0	14,390
Lowe's Companies, Inc.	COM	548661107	19,838	260,894	SH		SOLE		258,113	0	258,113
LyondellBasell Industries NV	COM	N53745100	1,375	15,824	SH		SOLE		15,754	0	15,754
Macy's Inc.	COM	55616p104	428	12,230	SH		SOLE		12,230	0	12,230
Market Vectors Global Alternat	COM	57061R593	402	7,342	SH		SOLE		7,342	0	7,342
Marsh & McLennan	COM	571748102	2,241	40,423	SH		SOLE		39,023	0	39,023
McKesson Corp.	COM	58155q103	21,435	108,678	SH		SOLE		107,521	0	107,521
Medtronic PLC	COM	G5960L103	362	4,708	SH		SOLE		4,708	0	4,708
Merck & Co., Inc.	COM	58933Y105	1,923	36,409	SH		SOLE		36,409	0	36,409
Microsoft Corp.	COM	594918104	8,884	160,133	SH		SOLE		157,333	0	157,333
Mondelez International, Inc.	COM	609207105	237	5,280	SH		SOLE		2,990	0	2,990
Morgan Stanley	COM	617446448	16,922	531,981	SH		SOLE		525,681	0	525,681
NXP Semiconductors NV	COM	N6596X109	2,495	29,612	SH		SOLE		29,432	0	29,432
NextEra Energy, Inc.	COM	65339F101	5,261	50,642	SH		SOLE		49,662	0	49,662
Nielsen Holdings, PLC	COM	G6518L108	14,101	302,597	SH		SOLE		299,272	0	299,272
Nike, Inc.	COM	654106103	579	9,270	SH		SOLE		7,470	0	7,470
Norfolk Southern Corp.	COM	655844108	1,600	18,916	SH		SOLE		18,866	0	18,866
Novartis AG - Sponsored ADR	COM	66987v109	5,044	58,627	SH		SOLE		58,147	0	58,147
NuStar Energy LP	COM	67058h102	211	5,271	SH		SOLE		5,271	0	5,271
ONE Gas, Inc.	COM	68235P108	941	18,759	SH		SOLE		18,697	0	18,697
ONEOK Inc.	COM	682680103	342	13,852	SH		SOLE		13,852	0	13,852
Old Dominion Freight Lines	COM	679580100	840	14,216	SH		SOLE		14,216	0	14,216
PNC Financial Services Group	COM	693475105	1,484	15,572	SH		SOLE		15,572	0	15,572
PSB Holdings, Inc.	COM	69360w108	134	13,200	SH		SOLE		13,200	0	13,200
Pattern Energy Group Inc.	COM	70338p100	10,033	479,808	SH		SOLE		474,258	0	474,258
PepsiCo, Inc.	COM	713448108	1,005	10,062	SH		SOLE		10,062	0	10,062
Pfizer, Inc.	COM	717081103	772	23,903	SH		SOLE		23,903	0	23,903
Philip Morris International, I	COM	718172109	431	4,907	SH		SOLE		1,502	0	1,502
Phillips 66	COM	718546104	1,715	20,969	SH		SOLE		20,879	0	20,879
PowerShares QQQ - Nasdaq 100 I	COM	73935A104	8,228	73,552	SH		SOLE		73,352	0	73,352
PowerShares S&P Small Cap Cons	COM	73937B506	226	4,925	SH		SOLE		4,925	0	4,925
Procter & Gamble Co.	COM	742718109	1,488	18,741	SH		SOLE		18,191	0	18,191
Prudential Financial, Inc.	COM	744320102	4,868	59,790	SH		SOLE		58,340	0	58,340
QS Energy, Inc.	COM	74736R106	5	28,000	SH		SOLE		20,000	0	20,000
Rite Aid	COM	767754104	1,619	206,545	SH		SOLE		205,345	0	205,345
SPDR KBW Regional Banking ETF	COM	78464A698	13,019	310,568	SH		SOLE		307,393	0	307,393
SPDR S&P Biotech ETF	COM	78464A870	1,172	16,689	SH		SOLE		16,689	0	16,689
SPDR S&P Homebuilders ETF	COM	78464A888	716	20,950	SH		SOLE		20,950	0	20,950
Scorpio Tankers, Inc.	COM	Y7542C106	133	16,550	SH		SOLE		16,550	0	16,550
Simon Property Group, Inc.	COM	828806109	1,911	9,830	SH		SOLE		9,785	0	9,785
Skechers USA Inc.	COM	830566105	286	9,460	SH		SOLE		9,460	0	9,460
Stryker Corp.	COM	863667101	9,347	100,575	SH		SOLE		99,275	0	99,275
SunPower Corporation	COM	867652406	356	11,847	SH		SOLE		11,847	0	11,847
SunTrust Banks	COM	867914103	598	13,950	SH		SOLE		12,650	0	12,650
Synaptics, Inc.	COM	87157d109	8,096	100,770	SH		SOLE		99,205	0	99,205
T-Mobile US, Inc.	COM	872590104	1,276	32,606	SH		SOLE		32,311	0	32,311
Target Corp.	COM	87612e106	9,417	129,695	SH		SOLE		128,545	0	128,545
Teekay Tankers Ltd.	COM	Y8565N102	6,418	932,846	SH		SOLE		921,171	0	921,171
The Kraft Heinz Company	COM	500754106	301	4,133	SH		SOLE		3,370	0	3,370
Total System Services, Inc.	COM	891906109	2,027	40,695	SH		SOLE		40,695	0	40,695
Union Pacific Corp.	COM	907818108	8,032	102,715	SH		SOLE		101,320	0	101,320
United Rentals Inc.	COM	911363109	1,438	19,830	SH		SOLE		19,730	0	19,730
United Technologies Corp.	COM	913017109	334	3,473	SH		SOLE		3,023	0	3,023
UnitedHealth Group Inc.	COM	91324p102	8,230	69,963	SH		SOLE		68,733	0	68,733
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	2,837	23,740	SH		SOLE		23,635	0	23,635
V. F. Corp.	COM	918204108	18,635	299,356	SH		SOLE		295,956	0	295,956
Valero Energy Corp.	COM	91913Y100	14,661	207,341	SH		SOLE		205,446	0	205,446
Vanguard REIT ETF	COM	922908553	492	6,170	SH		SOLE		6,170	0	6,170
Verizon Communications	COM	92343v104	6,403	138,528	SH		SOLE		136,503	0	136,503
Visa, Inc. Class A	COM	92826C839	25,732	331,817	SH		SOLE		327,722	0	327,722
Wabtec Corporation	COM	929740108	2,299	32,330	SH		SOLE		31,330	0	31,330
Walgreens Boots Alliance, Inc.	COM	931427108	2,246	26,381	SH		SOLE		26,301	0	26,301
Walt Disney Co.	COM	254687106	12,788	121,700	SH		SOLE		119,820	0	119,820
Wells Fargo & Co.	COM	949746101	5,196	95,589	SH		SOLE		94,189	0	94,189
Weyerhaeuser Co.	COM	962166104	9,406	313,738	SH		SOLE		310,038	0	310,038
Whiting Petroleum Corp.	COM	966387102	249	26,415	SH		SOLE		26,415	0	26,415
Williams-Sonoma, Inc.	COM	969904101	1,361	23,302	SH		SOLE		23,302	0	23,302
Worlds, Inc.	COM	98159J101	0	16,500	SH		SOLE		16,500	0	16,500
XPO Logistics, Inc.	COM	983793100	1,042	38,224	SH		SOLE		37,839	0	37,839
Guggenheim S&P 500 Equal Weigh	GUG S&P 500 EQ WT	78355w106	6,800	88,722	SH		SOLE		88,722	0	88,722
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	6,632	32,528	SH		SOLE		32,288	0	32,288
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	340	4,620	SH		SOLE		4,620	0	4,620
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,490	5,866	SH		SOLE		5,786	0	5,786
Vanguard Dividend Appreciation	DIV APP ETF	921908844	492	6,322	SH		SOLE		6,322	0	6,322
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	248	3,710	SH		SOLE		3,710	0	3,710
Vanguard Small Cap ETF	SMALL CP ETF	922908751	1,939	17,525	SH		SOLE		17,525	0	17,525
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,741	16,690	SH		SOLE		16,690	0	16,690
iShares KLD 400 Social Index F	MSCI KLD400 SOC	464288570	309	4,085	SH		SOLE		4,085	0	4,085
iShares MSCI USA Quality Facto	MSCI USA QLT FAC	46432f339	1,471	22,785	SH		SOLE		22,785	0	22,785
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,632	16,408	SH		SOLE		16,408	0	16,408
iShares Russell 1000 Index	RUS 1000 ETF	464287622	430	3,794	SH		SOLE		3,794	0	3,794
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	617	5,130	SH		SOLE		5,130	0	5,130
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	322	1,570	SH		SOLE		1,570	0	1,570
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	2,472	17,745	SH		SOLE		17,745	0	17,745
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	4,679	42,497	SH		SOLE		42,137	0	42,137
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	668	7,189	SH		SOLE		7,189	0	7,189
Vanguard FTSE All-World ex-US	ALLWRLD EX US	922042775	201	4,626	SH		SOLE		4,626	0	4,626
WisdomTree Europe Hedged Equit	EUROPE HEDGED EQ	97717X701	830	15,427	SH		SOLE		15,427	0	15,427
Vanguard Emerging Mkt Stock Id	FTSE EMR MKT ETF	922042841	505	18,483	SH		SOLE		18,483	0	18,483