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
Prospect Capital Corp.	CONV	74348TAD4	25	25,000	SH		SOLE		25,000	0	25,000
3M Co.	COM	88579y101	418	2,506	SH		SOLE		2,506	0	2,506
AT&T Inc.	COM	00206R102	14,543	371,280	SH		SOLE		367,232	0	367,232
AbbVie, Inc.	COM	00287Y109	8,013	140,282	SH		SOLE		138,632	0	138,632
Abbott Laboratories	COM	002824100	6,680	159,687	SH		SOLE		158,037	0	158,037
Accenture plc	COM	G1151C101	18,321	158,759	SH		SOLE		157,054	0	157,054
Advance Auto Parts, Inc.	COM	00751Y106	14,925	93,083	SH		SOLE		92,075	0	92,075
Aetna Inc	COM	00817y108	342	3,044	SH		SOLE		3,044	0	3,044
Affiliated Managers Group, Inc	COM	008252108	887	5,461	SH		SOLE		5,461	0	5,461
Akamai Technologies, Inc.	COM	00971t101	9,670	174,008	SH		SOLE		172,633	0	172,633
Alaska Air Group, Inc.	COM	011659109	8,610	104,980	SH		SOLE		104,235	0	104,235
Allergan plc	COM	G0177J108	7,240	27,011	SH		SOLE		26,582	0	26,582
Alphabet, Inc. Class A	COM	02079K305	28,532	37,399	SH		SOLE		36,976	0	36,976
Alphabet, Inc. Class C	COM	02079K107	3,099	4,160	SH		SOLE		4,054	0	4,054
Altria Group, Inc	COM	02209s103	267	4,257	SH		SOLE		2,177	0	2,177
American Water Works Co., Inc.	COM	030420103	18,182	263,777	SH		SOLE		261,027	0	261,027
Apple, Inc.	COM	037833100	28,861	264,807	SH		SOLE		261,479	0	261,479
Ares Capital Corp.	COM	04010L103	5,953	401,171	SH		SOLE		395,071	0	395,071
Ashland, Inc.	COM	044209104	9,239	84,022	SH		SOLE		82,982	0	82,982
Automatic Data Processing, Inc	COM	053015103	699	7,797	SH		SOLE		7,797	0	7,797
Bard (C.R.), Inc.	COM	067383109	12,901	63,656	SH		SOLE		63,126	0	63,126
Berkshire Hathaway Inc., Class	COM	084670108	213	1	SH		SOLE		1	0	1
Berkshire Hathaway Inc., Class	COM	084670702	2,112	14,887	SH		SOLE		14,812	0	14,812
Biogen, Inc.	COM	09062x103	4,299	16,515	SH		SOLE		16,340	0	16,340
Blackrock, Inc.	COM	09247x101	424	1,245	SH		SOLE		1,245	0	1,245
Blackstone Mortgage Trust, Inc	COM	09257w100	13,999	521,195	SH		SOLE		517,515	0	517,515
Boston Beer Company, Inc. - Cl	COM	100557107	254	1,372	SH		SOLE		1,372	0	1,372
Bristol-Myers Squibb Co.	COM	110122108	1,144	17,909	SH		SOLE		17,909	0	17,909
Broadcom Limited	COM	Y09827109	23,179	150,024	SH		SOLE		148,154	0	148,154
CIGNA Corp.	COM	125509109	2,429	17,702	SH		SOLE		17,602	0	17,602
CVS Health Corporation	COM	126650100	28,337	273,184	SH		SOLE		269,819	0	269,819
Celgene Corp	COM	151020104	11,589	115,784	SH		SOLE		114,104	0	114,104
Charles River Laboratories Int	COM	159864107	16,513	217,446	SH		SOLE		215,296	0	215,296
Charles Schwab Corp.	COM	808513105	13,627	486,325	SH		SOLE		479,975	0	479,975
Chevron Corp.	COM	166764100	4,345	45,545	SH		SOLE		45,415	0	45,415
Colgate-Palmolive Co.	COM	194162103	213	3,009	SH		SOLE		3,009	0	3,009
Comcast Corp.	COM	20030n101	17,125	280,363	SH		SOLE		277,328	0	277,328
Connecticut Water Service, Inc	COM	207797101	362	8,031	SH		SOLE		8,031	0	8,031
Costco Wholesale	COM	22160K105	15,478	98,220	SH		SOLE		97,106	0	97,106
Crown Castle International Cor	COM	22822V101	8,809	101,834	SH		SOLE		101,589	0	101,589
D. R. Horton Inc.	COM	23331a109	1,586	52,449	SH		SOLE		52,244	0	52,244
Darden Restaurants	COM	237194105	305	4,604	SH		SOLE		4,604	0	4,604
Delphi Automotive	COM	G27823106	3,476	46,331	SH		SOLE		45,716	0	45,716
Delta Air Lines, Inc.	COM	247361702	12,689	260,655	SH		SOLE		256,665	0	256,665
Discover Financial Services	COM	254709108	8,369	164,363	SH		SOLE		163,063	0	163,063
Dominion Resources	COM	25746u109	1,658	22,076	SH		SOLE		22,076	0	22,076
EMC Corp.	COM	268648102	275	10,308	SH		SOLE		10,308	0	10,308
EOG Resources, Inc.	COM	26875P101	14,116	194,485	SH		SOLE		191,940	0	191,940
Eaton Corp PLC	COM	G29183103	1,275	20,387	SH		SOLE		20,387	0	20,387
Enterprise Products Partners,	COM	293792107	653	26,542	SH		SOLE		24,242	0	24,242
Euronav SA	COM	B38564108	639	62,400	SH		SOLE		62,400	0	62,400
Eversource Energy	COM	30040w108	329	5,639	SH		SOLE		5,639	0	5,639
Express Scripts Holding Compan	COM	30219G108	1,832	26,671	SH		SOLE		26,491	0	26,491
Exxon Mobil Corp.	COM	30231g102	3,706	44,341	SH		SOLE		44,001	0	44,001
Facebook	COM	30303m102	4,032	35,337	SH		SOLE		35,207	0	35,207
First Trust Dow Jones Internet	COM	33733E302	2,081	30,479	SH		SOLE		30,319	0	30,319
Footlocker, Inc.	COM	344849104	8,289	128,508	SH		SOLE		126,626	0	126,626
Fortune Brands Home & Security	COM	34964C106	15,195	271,141	SH		SOLE		269,066	0	269,066
General Electric Co.	COM	369604103	5,589	175,812	SH		SOLE		175,212	0	175,212
General Mills, Inc.	COM	370334104	435	6,868	SH		SOLE		5,518	0	5,518
Gilead Sciences Inc.	COM	375558103	17,396	189,379	SH		SOLE		187,259	0	187,259
Golar LNG Ltd.	COM	G9456A100	559	31,110	SH		SOLE		31,110	0	31,110
Granite Construction Inc.	COM	387328107	632	13,218	SH		SOLE		13,218	0	13,218
Hain Celestial Group Inc.	COM	405217100	10,246	250,443	SH		SOLE		248,403	0	248,403
Hasbro Inc.	COM	418056107	5,184	64,719	SH		SOLE		63,949	0	63,949
Henry Schein, Inc.	COM	806407102	3,639	21,080	SH		SOLE		21,008	0	21,008
Hexcel Corp.	COM	428291108	5,414	123,867	SH		SOLE		122,107	0	122,107
Highwoods Properties, Inc.	COM	431284108	16,750	350,335	SH		SOLE		346,710	0	346,710
Home Depot, Inc.	COM	437076102	219	1,639	SH		SOLE		1,639	0	1,639
Honeywell International, Inc.	COM	438516106	1,412	12,601	SH		SOLE		12,601	0	12,601
IDEXX Laboratories, Inc.	COM	45168D104	433	5,525	SH		SOLE		5,525	0	5,525
Int'l Business Machines Corp.	COM	459200101	675	4,456	SH		SOLE		4,456	0	4,456
Intel Corp.	COM	458140100	4,076	126,003	SH		SOLE		125,813	0	125,813
Interpublic Grp Cos	COM	460690100	7,838	341,543	SH		SOLE		338,283	0	338,283
J.P. Morgan Chase & Co.	COM	46625h100	3,206	54,134	SH		SOLE		53,917	0	53,917
Johnson & Johnson	COM	478160104	1,415	13,082	SH		SOLE		13,082	0	13,082
Kimberly-Clark Corp.	COM	494368103	282	2,100	SH		SOLE		2,100	0	2,100
Kroger Co.	COM	501044101	3,315	86,667	SH		SOLE		86,337	0	86,337
Lincoln National Corp.	COM	534187109	2,814	71,795	SH		SOLE		71,795	0	71,795
Lithia Motors, Inc.	COM	536797103	341	3,908	SH		SOLE		3,908	0	3,908
Lockheed Martin Corp.	COM	539830109	3,436	15,513	SH		SOLE		15,453	0	15,453
Lowe's Companies, Inc.	COM	548661107	20,615	272,147	SH		SOLE		269,316	0	269,316
LyondellBasell Industries NV	COM	N53745100	1,544	18,043	SH		SOLE		17,973	0	17,973
MKS Instruments, Inc.	COM	55306N104	841	22,330	SH		SOLE		22,205	0	22,205
Macy's Inc.	COM	55616p104	316	7,157	SH		SOLE		7,157	0	7,157
Market Vectors Global Alternat	COM	57061R593	390	7,342	SH		SOLE		7,342	0	7,342
Marsh & McLennan	COM	571748102	2,449	40,283	SH		SOLE		38,883	0	38,883
McDonald's Corp.	COM	580135101	2,476	19,704	SH		SOLE		19,657	0	19,657
McKesson Corp.	COM	58155q103	10,561	67,159	SH		SOLE		66,234	0	66,234
Medtronic PLC	COM	G5960L103	374	4,989	SH		SOLE		4,989	0	4,989
Merck & Co., Inc.	COM	58933Y105	591	11,174	SH		SOLE		11,174	0	11,174
Microsoft Corp.	COM	594918104	14,479	262,167	SH		SOLE		259,132	0	259,132
Mondelez International, Inc.	COM	609207105	207	5,150	SH		SOLE		2,860	0	2,860
Morgan Stanley	COM	617446448	6,405	256,093	SH		SOLE		252,643	0	252,643
NXP Semiconductors NV	COM	N6596X109	2,350	28,989	SH		SOLE		28,759	0	28,759
NextEra Energy, Inc.	COM	65339F101	5,867	49,576	SH		SOLE		48,671	0	48,671
Nielsen Holdings, PLC	COM	G6518L108	16,332	310,132	SH		SOLE		306,682	0	306,682
Nike, Inc.	COM	654106103	577	9,394	SH		SOLE		7,594	0	7,594
Norfolk Southern Corp.	COM	655844108	1,555	18,680	SH		SOLE		18,630	0	18,630
Northrop Grumman Corp.	COM	666807102	252	1,274	SH		SOLE		1,274	0	1,274
Novartis AG - Sponsored ADR	COM	66987v109	3,107	42,886	SH		SOLE		42,506	0	42,506
NuStar Energy LP	COM	67058h102	213	5,271	SH		SOLE		5,271	0	5,271
ONE Gas, Inc.	COM	68235P108	1,143	18,712	SH		SOLE		18,650	0	18,650
ONEOK Inc.	COM	682680103	414	13,852	SH		SOLE		13,852	0	13,852
Old Dominion Freight Lines	COM	679580100	680	9,761	SH		SOLE		9,761	0	9,761
PB Bancorp, Inc.	COM	70454T100	132	15,716	SH		SOLE		15,716	0	15,716
PNC Financial Services Group	COM	693475105	1,339	15,837	SH		SOLE		15,837	0	15,837
Pattern Energy Group Inc.	COM	70338p100	9,115	478,001	SH		SOLE		472,451	0	472,451
PepsiCo, Inc.	COM	713448108	982	9,587	SH		SOLE		9,587	0	9,587
Pfizer, Inc.	COM	717081103	705	23,771	SH		SOLE		23,771	0	23,771
Philip Morris International, I	COM	718172109	2,995	30,529	SH		SOLE		26,999	0	26,999
Phillips 66	COM	718546104	1,854	21,416	SH		SOLE		21,326	0	21,326
Pioneer Natural Resources Co.	COM	723787107	446	3,170	SH		SOLE		3,170	0	3,170
PowerShares QQQ - Nasdaq 100 I	COM	73935A104	7,941	72,724	SH		SOLE		72,524	0	72,524
PowerShares S&P Small Cap Cons	COM	73937B506	221	4,525	SH		SOLE		4,525	0	4,525
Procter & Gamble Co.	COM	742718109	1,511	18,355	SH		SOLE		17,805	0	17,805
Prudential Financial, Inc.	COM	744320102	2,213	30,647	SH		SOLE		29,747	0	29,747
Rite Aid	COM	767754104	1,631	200,095	SH		SOLE		198,895	0	198,895
SPDR S&P Homebuilders ETF	COM	78464A888	672	19,850	SH		SOLE		19,850	0	19,850
Scorpio Tankers, Inc.	COM	Y7542C106	165	28,235	SH		SOLE		28,235	0	28,235
Sherwin-Williams Co.	COM	824348106	5,284	18,561	SH		SOLE		18,336	0	18,336
Simon Property Group, Inc.	COM	828806109	2,070	9,968	SH		SOLE		9,923	0	9,923
Skechers USA Inc.	COM	830566105	290	9,520	SH		SOLE		9,520	0	9,520
Stryker Corp.	COM	863667101	3,334	31,077	SH		SOLE		31,002	0	31,002
SunPower Corporation	COM	867652406	551	24,685	SH		SOLE		24,685	0	24,685
SunTrust Banks	COM	867914103	401	11,101	SH		SOLE		9,801	0	9,801
Synaptics, Inc.	COM	87157d109	1,875	23,520	SH		SOLE		23,170	0	23,170
T-Mobile US, Inc.	COM	872590104	1,772	46,260	SH		SOLE		45,965	0	45,965
Target Corp.	COM	87612e106	12,511	152,059	SH		SOLE		150,829	0	150,829
Teekay Tankers Ltd.	COM	Y8565N102	3,498	953,155	SH		SOLE		941,480	0	941,480
The Kraft Heinz Company	COM	500754106	331	4,210	SH		SOLE		3,447	0	3,447
Union Pacific Corp.	COM	907818108	432	5,429	SH		SOLE		5,429	0	5,429
United Parcel Service, Inc.	COM	911312106	1,407	13,343	SH		SOLE		13,343	0	13,343
United Technologies Corp.	COM	913017109	298	2,973	SH		SOLE		2,523	0	2,523
UnitedHealth Group Inc.	COM	91324p102	11,000	85,335	SH		SOLE		84,165	0	84,165
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	3,240	25,978	SH		SOLE		25,873	0	25,873
V. F. Corp.	COM	918204108	17,110	264,201	SH		SOLE		261,141	0	261,141
Valero Energy Corp.	COM	91913Y100	6,518	101,615	SH		SOLE		100,115	0	100,115
Vanguard REIT ETF	COM	922908553	590	7,038	SH		SOLE		7,038	0	7,038
Verizon Communications	COM	92343v104	13,057	241,439	SH		SOLE		238,764	0	238,764
Visa, Inc. Class A	COM	92826C839	23,804	311,248	SH		SOLE		307,153	0	307,153
Walgreens Boots Alliance, Inc.	COM	931427108	2,227	26,436	SH		SOLE		26,356	0	26,356
Walt Disney Co.	COM	254687106	11,637	117,174	SH		SOLE		115,689	0	115,689
Wells Fargo & Co.	COM	949746101	4,798	99,211	SH		SOLE		97,811	0	97,811
Weyerhaeuser Co.	COM	962166104	8,586	277,134	SH		SOLE		273,434	0	273,434
Whiting Petroleum Corp.	COM	966387102	148	18,580	SH		SOLE		18,580	0	18,580
Guggenheim S&P 500 Equal Weigh	GUG S&P 500 EQ WT	78355w106	6,970	88,752	SH		SOLE		88,752	0	88,752
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	7,178	34,927	SH		SOLE		34,687	0	34,687
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	434	5,426	SH		SOLE		5,426	0	5,426
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,557	5,926	SH		SOLE		5,846	0	5,846
Vanguard Dividend Appreciation	DIV APP ETF	921908844	390	4,799	SH		SOLE		4,799	0	4,799
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	377	5,460	SH		SOLE		5,460	0	5,460
Vanguard Small Cap ETF	SMALL CP ETF	922908751	1,823	16,352	SH		SOLE		16,352	0	16,352
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,690	16,120	SH		SOLE		16,120	0	16,120
iShares KLD 400 Social Index F	MSCI KLD400 SOC	464288570	313	4,085	SH		SOLE		4,085	0	4,085
iShares MSCI USA Quality Facto	MSCI USA QLT FAC	46432f339	1,496	22,795	SH		SOLE		22,795	0	22,795
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,632	16,356	SH		SOLE		16,356	0	16,356
iShares Russell 1000 Index	RUS 1000 ETF	464287622	530	4,642	SH		SOLE		4,642	0	4,642
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	618	5,115	SH		SOLE		5,115	0	5,115
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	676	3,271	SH		SOLE		3,271	0	3,271
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	2,408	16,697	SH		SOLE		16,697	0	16,697
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	4,840	42,999	SH		SOLE		42,639	0	42,639
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	676	7,244	SH		SOLE		7,244	0	7,244
Vanguard FTSE All-World ex-US	ALLWRLD EX US	922042775	250	5,801	SH		SOLE		5,801	0	5,801
WisdomTree Europe Hedged Equit	EUROPE HEDGED EQ	97717X701	862	16,607	SH		SOLE		16,607	0	16,607