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	PRN		SOLE		25,000	0	25,000
3M Co.	COM	88579y101	987	5,637	SH		SOLE		5,637	0	5,637
AECOM	COM	00766T100	249	7,849	SH		SOLE		7,849	0	7,849
AMN Healthcare Services Inc.	COM	001744101	7,784	194,739	SH		SOLE		192,324	0	192,324
AT&T Inc.	COM	00206R102	17,722	410,129	SH		SOLE		405,921	0	405,921
AbbVie, Inc.	COM	00287Y109	4,746	76,652	SH		SOLE		76,002	0	76,002
Abbott Laboratories	COM	002824100	3,377	85,915	SH		SOLE		85,915	0	85,915
Accenture plc	COM	G1151C101	18,014	159,005	SH		SOLE		157,285	0	157,285
Advance Auto Parts, Inc.	COM	00751Y106	4,699	29,070	SH		SOLE		28,804	0	28,804
Aetna Inc	COM	00817y108	372	3,044	SH		SOLE		3,044	0	3,044
Affiliated Managers Group, Inc	COM	008252108	767	5,449	SH		SOLE		5,449	0	5,449
Air Products & Chem	COM	009158106	1,253	8,820	SH		SOLE		8,777	0	8,777
Akamai Technologies, Inc.	COM	00971t101	10,067	179,985	SH		SOLE		178,560	0	178,560
Alaska Air Group, Inc.	COM	011659109	2,258	38,741	SH		SOLE		38,651	0	38,651
Allergan plc	COM	G0177J108	3,157	13,662	SH		SOLE		13,387	0	13,387
Alphabet, Inc. Class A	COM	02079K305	26,384	37,503	SH		SOLE		37,102	0	37,102
Alphabet, Inc. Class C	COM	02079K107	2,800	4,045	SH		SOLE		3,939	0	3,939
Altria Group, Inc	COM	02209s103	289	4,187	SH		SOLE		2,107	0	2,107
American Water Works Co., Inc.	COM	030420103	22,058	261,007	SH		SOLE		258,432	0	258,432
Apple, Inc.	COM	037833100	22,435	234,680	SH		SOLE		232,172	0	232,172
Ares Capital Corp.	COM	04010L103	5,809	409,113	SH		SOLE		403,013	0	403,013
Ashland, Inc.	COM	044209104	9,271	80,778	SH		SOLE		79,798	0	79,798
Automatic Data Processing, Inc	COM	053015103	723	7,870	SH		SOLE		7,870	0	7,870
Bard (C.R.), Inc.	COM	067383109	14,868	63,226	SH		SOLE		62,696	0	62,696
Berkshire Hathaway Inc., Class	COM	084670108	217	1	SH		SOLE		1	0	1
Berkshire Hathaway Inc., Class	COM	084670702	2,177	15,034	SH		SOLE		14,959	0	14,959
Biogen, Inc.	COM	09062x103	326	1,348	SH		SOLE		1,173	0	1,173
Blackrock, Inc.	COM	09247x101	14,972	43,709	SH		SOLE		43,226	0	43,226
Blackstone Mortgage Trust, Inc	COM	09257w100	16,640	601,357	SH		SOLE		597,467	0	597,467
Boston Beer Company, Inc. - Cl	COM	100557107	235	1,372	SH		SOLE		1,372	0	1,372
Bristol-Myers Squibb Co.	COM	110122108	1,320	17,944	SH		SOLE		17,944	0	17,944
Broadcom Limited	COM	Y09827109	22,528	144,969	SH		SOLE		143,224	0	143,224
CIGNA Corp.	COM	125509109	1,417	11,073	SH		SOLE		11,028	0	11,028
CVS Health Corporation	COM	126650100	23,279	243,144	SH		SOLE		240,709	0	240,709
Cambridge Bancorp	COM	132152109	1,400	30,050	SH		SOLE		30,050	0	30,050
Carlisle Cos.	COM	142339100	304	2,880	SH		SOLE		2,480	0	2,480
Celgene Corp	COM	151020104	11,575	117,359	SH		SOLE		115,679	0	115,679
Charles River Laboratories Int	COM	159864107	19,132	232,074	SH		SOLE		229,859	0	229,859
Charles Schwab Corp.	COM	808513105	12,879	508,845	SH		SOLE		502,495	0	502,495
Chevron Corp.	COM	166764100	4,952	47,236	SH		SOLE		47,106	0	47,106
Colgate-Palmolive Co.	COM	194162103	220	3,009	SH		SOLE		3,009	0	3,009
Comcast Corp.	COM	20030n101	18,562	284,729	SH		SOLE		281,664	0	281,664
Connecticut Water Service, Inc	COM	207797101	451	8,031	SH		SOLE		8,031	0	8,031
Costco Wholesale	COM	22160K105	15,893	101,201	SH		SOLE		100,087	0	100,087
Crown Castle International Cor	COM	22822V101	11,776	116,102	SH		SOLE		115,857	0	115,857
D. R. Horton Inc.	COM	23331a109	1,625	51,626	SH		SOLE		51,421	0	51,421
Darden Restaurants	COM	237194105	1,894	29,903	SH		SOLE		29,808	0	29,808
Delphi Automotive	COM	G27823106	1,533	24,486	SH		SOLE		24,321	0	24,321
Delta Air Lines, Inc.	COM	247361702	5,661	155,389	SH		SOLE		153,479	0	153,479
Deutsche Telekom AG	COM	251566105	860	50,640	SH		SOLE		50,640	0	50,640
Discover Financial Services	COM	254709108	8,532	159,218	SH		SOLE		157,918	0	157,918
Dominion Resources	COM	25746u109	1,695	21,745	SH		SOLE		21,660	0	21,660
EMC Corp.	COM	268648102	280	10,308	SH		SOLE		10,308	0	10,308
EOG Resources, Inc.	COM	26875P101	17,426	208,897	SH		SOLE		206,327	0	206,327
Enterprise Products Partners	COM	293792107	777	26,542	SH		SOLE		24,242	0	24,242
Eversource Energy	COM	30040w108	338	5,639	SH		SOLE		5,639	0	5,639
Express Scripts Holding Compan	COM	30219G108	1,041	13,740	SH		SOLE		13,610	0	13,610
Exxon Mobil Corp.	COM	30231g102	4,084	43,572	SH		SOLE		43,232	0	43,232
Facebook	COM	30303m102	3,608	31,571	SH		SOLE		31,461	0	31,461
First Trust Dow Jones Internet	COM	33733E302	2,182	30,250	SH		SOLE		30,090	0	30,090
Footlocker, Inc.	COM	344849104	328	5,983	SH		SOLE		4,283	0	4,283
Fortune Brands Home & Security	COM	34964C106	15,483	267,091	SH		SOLE		263,801	0	263,801
General Electric Co.	COM	369604103	5,613	178,294	SH		SOLE		177,694	0	177,694
General Mills, Inc.	COM	370334104	4,040	56,640	SH		SOLE		55,095	0	55,095
Gilead Sciences Inc.	COM	375558103	13,726	164,547	SH		SOLE		162,427	0	162,427
Golar LNG Ltd.	COM	G9456A100	457	29,505	SH		SOLE		29,505	0	29,505
Granite Construction Inc.	COM	387328107	640	14,053	SH		SOLE		14,053	0	14,053
Hain Celestial Group Inc.	COM	405217100	11,241	225,958	SH		SOLE		224,228	0	224,228
Hasbro Inc.	COM	418056107	10,749	127,982	SH		SOLE		126,387	0	126,387
Henry Schein, Inc.	COM	806407102	3,697	20,908	SH		SOLE		20,836	0	20,836
Hershey Foods Corp.	COM	427866108	206	1,815	SH		SOLE		1,815	0	1,815
Hexcel Corp.	COM	428291108	5,083	122,072	SH		SOLE		120,312	0	120,312
Highwoods Properties, Inc.	COM	431284108	18,576	351,819	SH		SOLE		348,084	0	348,084
Home Depot, Inc.	COM	437076102	213	1,667	SH		SOLE		1,667	0	1,667
Honeywell International, Inc.	COM	438516106	1,469	12,631	SH		SOLE		12,631	0	12,631
IDEXX Laboratories, Inc.	COM	45168D104	513	5,525	SH		SOLE		5,525	0	5,525
Int'l Business Machines Corp.	COM	459200101	623	4,101	SH		SOLE		4,101	0	4,101
Intel Corp.	COM	458140100	3,679	112,165	SH		SOLE		111,975	0	111,975
Interpublic Grp Cos. Inc.	COM	460690100	8,266	357,844	SH		SOLE		354,584	0	354,584
J.P. Morgan Chase & Co.	COM	46625h100	3,692	59,421	SH		SOLE		59,204	0	59,204
Johnson & Johnson	COM	478160104	1,580	13,025	SH		SOLE		13,025	0	13,025
Kimberly-Clark Corp.	COM	494368103	291	2,119	SH		SOLE		2,119	0	2,119
Lincoln National Corp.	COM	534187109	2,450	63,201	SH		SOLE		63,201	0	63,201
Lithia Motors, Inc.	COM	536797103	251	3,531	SH		SOLE		3,531	0	3,531
Lockheed Martin Corp.	COM	539830109	3,445	13,881	SH		SOLE		13,830	0	13,830
Lowe's Companies, Inc.	COM	548661107	21,781	275,120	SH		SOLE		272,289	0	272,289
LyondellBasell Industries NV	COM	N53745100	1,236	16,615	SH		SOLE		16,545	0	16,545
MKS Instruments, Inc.	COM	55306N104	1,590	36,922	SH		SOLE		36,922	0	36,922
Macquarie Infrastructure Corp.	COM	55608B105	290	3,917	SH		SOLE		3,917	0	3,917
Marsh & McLennan	COM	571748102	8,162	119,221	SH		SOLE		117,821	0	117,821
Mattel, Inc.	COM	577081102	214	6,843	SH		SOLE		6,843	0	6,843
McDonald's Corp.	COM	580135101	2,542	21,121	SH		SOLE		21,074	0	21,074
McKesson Corp.	COM	58155q103	13,617	72,955	SH		SOLE		72,030	0	72,030
Medtronic PLC	COM	G5960L103	418	4,814	SH		SOLE		4,814	0	4,814
Merck & Co., Inc.	COM	58933Y105	686	11,910	SH		SOLE		11,910	0	11,910
Microsoft Corp.	COM	594918104	14,974	292,640	SH		SOLE		289,480	0	289,480
Mohawk Industries, Inc.	COM	608190104	5,140	27,085	SH		SOLE		26,785	0	26,785
Mondelez International, Inc.	COM	609207105	240	5,278	SH		SOLE		2,988	0	2,988
NXP Semiconductors NV	COM	N6596X109	1,077	13,744	SH		SOLE		13,594	0	13,594
NextEra Energy, Inc.	COM	65339F101	6,640	50,918	SH		SOLE		50,013	0	50,013
Nielsen Holdings, PLC	COM	G6518L108	17,188	330,721	SH		SOLE		327,166	0	327,166
Nike, Inc.	COM	654106103	464	8,401	SH		SOLE		6,601	0	6,601
Norfolk Southern Corp.	COM	655844108	1,548	18,180	SH		SOLE		18,130	0	18,130
Northrop Grumman Corp.	COM	666807102	323	1,454	SH		SOLE		1,454	0	1,454
Novartis AG - Sponsored ADR	COM	66987v109	531	6,441	SH		SOLE		6,441	0	6,441
NuStar Energy LP	COM	67058h102	213	4,271	SH		SOLE		4,271	0	4,271
ONE Gas, Inc.	COM	68235P108	1,237	18,584	SH		SOLE		18,522	0	18,522
ONEOK Inc.	COM	682680103	630	13,287	SH		SOLE		13,287	0	13,287
Old Dominion Freight Lines	COM	679580100	589	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	1,273	15,637	SH		SOLE		15,637	0	15,637
Pattern Energy Group Inc.	COM	70338p100	11,049	481,025	SH		SOLE		477,700	0	477,700
PepsiCo, Inc.	COM	713448108	1,044	9,855	SH		SOLE		9,855	0	9,855
Pfizer, Inc.	COM	717081103	894	25,390	SH		SOLE		25,390	0	25,390
Philip Morris International, I	COM	718172109	3,071	30,191	SH		SOLE		26,911	0	26,911
Phillips 66	COM	718546104	1,401	17,653	SH		SOLE		17,563	0	17,563
Pioneer Natural Resources Co.	COM	723787107	6,827	45,148	SH		SOLE		44,603	0	44,603
PowerShares QQQ - Nasdaq 100 I	COM	73935A104	7,648	71,118	SH		SOLE		70,918	0	70,918
Procter & Gamble Co.	COM	742718109	1,558	18,406	SH		SOLE		17,856	0	17,856
QS Energy, Inc.	COM	74736R106	4	28,000	SH		SOLE		20,000	0	20,000
Regeneron Pharmaceuticals	COM	75886F107	5,190	14,862	SH		SOLE		14,671	0	14,671
Rite Aid	COM	767754104	734	98,062	SH		SOLE		97,462	0	97,462
SPDR S&P Biotech ETF	COM	78464A870	262	4,850	SH		SOLE		4,850	0	4,850
Scorpio Tankers, Inc.	COM	Y7542C106	142	33,695	SH		SOLE		33,695	0	33,695
Sherwin-Williams Co.	COM	824348106	6,337	21,577	SH		SOLE		21,352	0	21,352
Simon Property Group, Inc.	COM	828806109	2,207	10,177	SH		SOLE		10,132	0	10,132
Skechers USA Inc.	COM	830566105	283	9,520	SH		SOLE		9,520	0	9,520
Spectra Energy Corp.	COM	847560109	2,058	56,193	SH		SOLE		55,993	0	55,993
Stanley Black & Decker, Inc.	COM	854502101	4,202	37,783	SH		SOLE		37,313	0	37,313
Stryker Corp.	COM	863667101	6,594	55,030	SH		SOLE		54,415	0	54,415
SunPower Corporation	COM	867652406	440	28,428	SH		SOLE		28,428	0	28,428
SunTrust Banks	COM	867914103	403	9,802	SH		SOLE		8,502	0	8,502
T-Mobile US, Inc.	COM	872590104	1,972	45,574	SH		SOLE		45,279	0	45,279
Target Corp.	COM	87612e106	10,197	146,048	SH		SOLE		144,818	0	144,818
Teekay Tankers Ltd.	COM	Y8565N102	235	79,000	SH		SOLE		79,000	0	79,000
The Kraft Heinz Company	COM	500754106	375	4,240	SH		SOLE		3,477	0	3,477
Union Pacific Corp.	COM	907818108	2,265	25,965	SH		SOLE		25,890	0	25,890
United Parcel Service, Inc.	COM	911312106	1,501	13,936	SH		SOLE		13,936	0	13,936
United Technologies Corp.	COM	913017109	298	2,907	SH		SOLE		2,457	0	2,457
UnitedHealth Group Inc.	COM	91324p102	11,537	81,706	SH		SOLE		80,586	0	80,586
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	3,371	25,141	SH		SOLE		25,036	0	25,036
V. F. Corp.	COM	918204108	16,204	263,521	SH		SOLE		260,461	0	260,461
VanEck Vectors Global Alt. Ene	COM	92189F502	355	7,139	SH		SOLE		7,139	0	7,139
Vanguard REIT ETF	REIT ETF	922908553	623	7,029	SH		SOLE		7,029	0	7,029
Verizon Communications	COM	92343v104	18,633	333,682	SH		SOLE		330,737	0	330,737
Visa, Inc. Class A	COM	92826C839	19,331	260,633	SH		SOLE		257,898	0	257,898
Walgreens Boots Alliance, Inc.	COM	931427108	2,197	26,389	SH		SOLE		26,309	0	26,309
Walt Disney Co.	COM	254687106	11,521	117,775	SH		SOLE		116,290	0	116,290
Wells Fargo & Co.	COM	949746101	5,539	117,020	SH		SOLE		115,620	0	115,620
Weyerhaeuser Co.	COM	962166104	6,735	226,228	SH		SOLE		223,103	0	223,103
Whiting Petroleum Corp.	COM	966387102	174	18,780	SH		SOLE		18,780	0	18,780
Guggenheim S&P 500 Equal Weigh	GUG S&P 500 EQ WT	78355w106	7,108	88,462	SH		SOLE		88,462	0	88,462
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	7,163	34,196	SH		SOLE		33,956	0	33,956
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	475	5,656	SH		SOLE		5,656	0	5,656
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,593	5,851	SH		SOLE		5,771	0	5,771
Vanguard Dividend Appreciation	DIV APP ETF	921908844	399	4,793	SH		SOLE		4,793	0	4,793
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	1,396	19,534	SH		SOLE		19,534	0	19,534
Vanguard S&P 500 ETF	S&P 500 ETF SHS	922908363	429	2,234	SH		SOLE		2,234	0	2,234
Vanguard Small Cap ETF	SMALL CP ETF	922908751	1,873	16,191	SH		SOLE		16,191	0	16,191
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,728	16,128	SH		SOLE		16,128	0	16,128
iShares KLD 400 Social Index F	MSCI KLD400 SOC	464288570	318	4,115	SH		SOLE		4,115	0	4,115
iShares MSCI USA Quality Facto	MSCI USA QLT FAC	46432f339	1,518	22,998	SH		SOLE		22,998	0	22,998
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,558	15,522	SH		SOLE		15,522	0	15,522
iShares Russell 1000 Index	RUS 1000 ETF	464287622	531	4,540	SH		SOLE		4,540	0	4,540
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	636	5,130	SH		SOLE		5,130	0	5,130
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	581	2,760	SH		SOLE		2,760	0	2,760
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	2,481	16,610	SH		SOLE		16,610	0	16,610
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	5,099	43,880	SH		SOLE		43,470	0	43,470
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	726	7,797	SH		SOLE		7,797	0	7,797
Vanguard FTSE All-World ex-US	ALLWRLD EX US	922042775	322	7,522	SH		SOLE		7,522	0	7,522
WisdomTree Europe Hedged Equit	EUROPE HEDGED EQ	97717X701	905	17,907	SH		SOLE		17,782	0	17,782