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	1,084	6,150	SH		SOLE		6,150	0	6,150
AECOM	COM	00766T100	261	8,781	SH		SOLE		8,781	0	8,781
AMN Healthcare Services Inc.	COM	001744101	7,540	236,586	SH		SOLE		233,121	0	233,121
AT&T Inc.	COM	00206R102	17,030	419,350	SH		SOLE		413,102	0	413,102
AbbVie, Inc.	COM	00287Y109	6,733	106,751	SH		SOLE		105,161	0	105,161
Abbott Laboratories	COM	002824100	4,002	94,637	SH		SOLE		94,637	0	94,637
Accenture plc	COM	G1151C101	19,665	160,967	SH		SOLE		158,277	0	158,277
Advance Auto Parts, Inc.	COM	00751Y106	1,097	7,357	SH		SOLE		7,132	0	7,132
Aetna Inc	COM	00817y108	458	3,967	SH		SOLE		3,967	0	3,967
Affiliated Managers Group, Inc	COM	008252108	799	5,520	SH		SOLE		5,520	0	5,520
Air Products & Chem	COM	009158106	1,951	12,976	SH		SOLE		12,933	0	12,933
Akamai Technologies, Inc.	COM	00971t101	8,014	151,242	SH		SOLE		149,817	0	149,817
Alaska Air Group, Inc.	COM	011659109	519	7,880	SH		SOLE		7,880	0	7,880
Allergan plc	COM	G0177J108	1,825	7,923	SH		SOLE		7,893	0	7,893
Alphabet, Inc. Class A	COM	02079K305	30,742	38,233	SH		SOLE		37,832	0	37,832
Alphabet, Inc. Class C	COM	02079K107	3,194	4,109	SH		SOLE		4,009	0	4,009
Altria Group, Inc	COM	02209s103	271	4,287	SH		SOLE		2,307	0	2,307
Amazon.com, Inc.	COM	023135106	2,831	3,381	SH		SOLE		3,368	0	3,368
American Water Works Co., Inc.	COM	030420103	16,966	226,693	SH		SOLE		222,928	0	222,928
Amgen Inc.	COM	031162100	665	3,985	SH		SOLE		3,985	0	3,985
Analog Devices	COM	032654105	207	3,212	SH		SOLE		3,212	0	3,212
Apple, Inc.	COM	037833100	25,569	226,178	SH		SOLE		222,855	0	222,855
Ares Capital Corp.	COM	04010L103	335	21,585	SH		SOLE		21,585	0	21,585
Ashland Global Holdings, Inc.	COM	044186104	2,041	17,604	SH		SOLE		17,504	0	17,504
Automatic Data Processing, Inc	COM	053015103	1,656	18,771	SH		SOLE		18,701	0	18,701
Bard (C.R.), Inc.	COM	067383109	16,074	71,671	SH		SOLE		70,371	0	70,371
Berkshire Hathaway Inc., Class	COM	084670108	216	1	SH		SOLE		1	0	1
Berkshire Hathaway Inc., Class	COM	084670702	2,222	15,380	SH		SOLE		15,305	0	15,305
Biogen, Inc.	COM	09062x103	422	1,348	SH		SOLE		1,173	0	1,173
Blackrock, Inc.	COM	09247x101	17,446	48,134	SH		SOLE		47,651	0	47,651
Blackstone Mortgage Trust, Inc	COM	09257w100	17,616	598,167	SH		SOLE		594,277	0	594,277
Boston Beer Company, Inc. - Cl	COM	100557107	213	1,372	SH		SOLE		1,372	0	1,372
Bristol-Myers Squibb Co.	COM	110122108	462	8,575	SH		SOLE		8,575	0	8,575
Broadcom Limited	COM	Y09827109	24,146	139,963	SH		SOLE		137,796	0	137,796
CIGNA Corp.	COM	125509109	1,373	10,539	SH		SOLE		10,494	0	10,494
CVS Health Corporation	COM	126650100	20,199	226,984	SH		SOLE		224,584	0	224,584
Cambridge Bancorp	COM	132152109	1,504	30,050	SH		SOLE		30,050	0	30,050
Carlisle Cos.	COM	142339100	295	2,880	SH		SOLE		2,480	0	2,480
Celgene Corp	COM	151020104	12,356	118,208	SH		SOLE		116,038	0	116,038
Charles River Laboratories Int	COM	159864107	19,222	230,641	SH		SOLE		227,326	0	227,326
Charles Schwab Corp.	COM	808513105	16,299	516,277	SH		SOLE		507,627	0	507,627
Chevron Corp.	COM	166764100	5,073	49,295	SH		SOLE		49,165	0	49,165
Chubb Ltd.	COM	H1467J104	1,500	11,936	SH		SOLE		11,886	0	11,886
Cisco Systems, Inc.	COM	17275R102	1,019	32,112	SH		SOLE		31,902	0	31,902
Citizens Financial Group, Inc.	COM	174610105	4,933	199,651	SH		SOLE		196,986	0	196,986
Coca-Cola Co.	COM	191216100	269	6,346	SH		SOLE		6,196	0	6,196
Colgate-Palmolive Co.	COM	194162103	277	3,739	SH		SOLE		3,739	0	3,739
Comcast Corp.	COM	20030n101	19,386	292,220	SH		SOLE		287,805	0	287,805
Connecticut Water Service, Inc	COM	207797101	399	8,031	SH		SOLE		8,031	0	8,031
Costco Wholesale	COM	22160K105	15,004	98,378	SH		SOLE		96,949	0	96,949
Crown Castle International Cor	COM	22822V101	10,399	110,380	SH		SOLE		109,175	0	109,175
D. R. Horton Inc.	COM	23331a109	1,672	55,378	SH		SOLE		55,173	0	55,173
Darden Restaurants	COM	237194105	1,715	27,968	SH		SOLE		27,873	0	27,873
Delphi Automotive	COM	G27823106	1,218	17,082	SH		SOLE		17,007	0	17,007
Delta Air Lines, Inc.	COM	247361702	1,525	38,750	SH		SOLE		38,590	0	38,590
Discover Financial Services	COM	254709108	9,109	161,073	SH		SOLE		158,843	0	158,843
Dominion Resources	COM	25746u109	1,806	24,318	SH		SOLE		24,233	0	24,233
Dow Chemical Co.	COM	260543103	2,529	48,801	SH		SOLE		48,681	0	48,681
EOG Resources, Inc.	COM	26875P101	20,378	210,717	SH		SOLE		206,977	0	206,977
Eli Lilly and Co.	COM	532457108	1,789	22,288	SH		SOLE		22,208	0	22,208
Enterprise Products Partners,	COM	293792107	781	28,257	SH		SOLE		25,957	0	25,957
Eversource Energy	COM	30040w108	391	7,213	SH		SOLE		7,213	0	7,213
Exxon Mobil Corp.	COM	30231g102	3,052	34,963	SH		SOLE		34,693	0	34,693
Facebook	COM	30303m102	11,017	85,891	SH		SOLE		85,226	0	85,226
First Trust Dow Jones Internet	COM	33733E302	2,468	30,255	SH		SOLE		30,095	0	30,095
Footlocker, Inc.	COM	344849104	266	3,929	SH		SOLE		2,229	0	2,229
Fortune Brands Home & Security	COM	34964C106	15,942	274,387	SH		SOLE		269,197	0	269,197
General Electric Co.	COM	369604103	5,418	182,900	SH		SOLE		182,300	0	182,300
General Mills, Inc.	COM	370334104	3,334	52,190	SH		SOLE		50,645	0	50,645
Gilead Sciences Inc.	COM	375558103	7,924	100,156	SH		SOLE		98,191	0	98,191
Golar LNG Ltd.	COM	G9456A100	641	30,250	SH		SOLE		30,250	0	30,250
Granite Construction Inc.	COM	387328107	705	14,172	SH		SOLE		14,172	0	14,172
Hain Celestial Group Inc.	COM	405217100	759	21,344	SH		SOLE		21,344	0	21,344
Harley-Davidson, Inc.	COM	412822108	804	15,288	SH		SOLE		15,168	0	15,168
Hasbro Inc.	COM	418056107	13,706	172,770	SH		SOLE		170,610	0	170,610
Henry Schein, Inc.	COM	806407102	3,389	20,797	SH		SOLE		20,725	0	20,725
Hexcel Corp.	COM	428291108	5,143	116,096	SH		SOLE		114,476	0	114,476
Highwoods Properties, Inc.	COM	431284108	16,242	311,619	SH		SOLE		306,184	0	306,184
Home Depot, Inc.	COM	437076102	215	1,667	SH		SOLE		1,667	0	1,667
Honeywell International, Inc.	COM	438516106	1,492	12,797	SH		SOLE		12,797	0	12,797
IDEXX Laboratories, Inc.	COM	45168D104	616	5,460	SH		SOLE		5,460	0	5,460
Int'l Business Machines Corp.	COM	459200101	663	4,174	SH		SOLE		4,174	0	4,174
Intel Corp.	COM	458140100	2,619	69,384	SH		SOLE		67,504	0	67,504
Interpublic Grp Cos	COM	460690100	8,258	369,487	SH		SOLE		363,867	0	363,867
Iron Mountain, Inc.	COM	46284V101	732	19,505	SH		SOLE		19,335	0	19,335
J.M. Smucker Co.	COM	832696405	5,752	42,435	SH		SOLE		41,890	0	41,890
J.P. Morgan Chase & Co.	COM	46625h100	5,180	77,790	SH		SOLE		77,573	0	77,573
Johnson & Johnson	COM	478160104	4,829	40,875	SH		SOLE		40,820	0	40,820
Johnson Controls International	COM	G51502105	415	8,921	SH		SOLE		8,921	0	8,921
Kimberly-Clark Corp.	COM	494368103	522	4,138	SH		SOLE		4,138	0	4,138
Lam Research	COM	512807108	2,662	28,108	SH		SOLE		27,368	0	27,368
Lincoln National Corp.	COM	534187109	3,042	64,751	SH		SOLE		63,601	0	63,601
Lithia Motors, Inc.	COM	536797103	337	3,531	SH		SOLE		3,531	0	3,531
Lockheed Martin Corp.	COM	539830109	3,405	14,202	SH		SOLE		14,151	0	14,151
Lowe's Companies, Inc.	COM	548661107	19,229	266,295	SH		SOLE		263,464	0	263,464
LyondellBasell Industries NV	COM	N53745100	1,080	13,391	SH		SOLE		13,321	0	13,321
MKS Instruments, Inc.	COM	55306N104	2,495	50,170	SH		SOLE		49,095	0	49,095
Macquarie Infrastructure Corp.	COM	55608B105	339	4,070	SH		SOLE		4,070	0	4,070
Marsh & McLennan	COM	571748102	14,935	222,088	SH		SOLE		218,103	0	218,103
McDonald's Corp.	COM	580135101	1,812	15,706	SH		SOLE		14,889	0	14,889
McKesson Corp.	COM	58155q103	11,171	66,993	SH		SOLE		66,198	0	66,198
Medtronic PLC	COM	G5960L103	416	4,814	SH		SOLE		4,814	0	4,814
Merck & Co., Inc.	COM	58933Y105	841	13,471	SH		SOLE		13,471	0	13,471
Micron Technology	COM	595112103	461	25,900	SH		SOLE		25,900	0	25,900
Microsoft Corp.	COM	594918104	17,919	311,092	SH		SOLE		305,997	0	305,997
Mid-America Apartment Communit	COM	59522j103	6,637	70,615	SH		SOLE		69,660	0	69,660
Mohawk Industries, Inc.	COM	608190104	5,662	28,262	SH		SOLE		27,622	0	27,622
Mondelez International, Inc.	COM	609207105	247	5,618	SH		SOLE		3,328	0	3,328
NXP Semiconductors NV	COM	N6596X109	1,372	13,454	SH		SOLE		13,304	0	13,304
NextEra Energy, Inc.	COM	65339F101	5,919	48,390	SH		SOLE		47,485	0	47,485
Nielsen Holdings, PLC	COM	G6518L108	17,912	334,373	SH		SOLE		329,118	0	329,118
Nike, Inc.	COM	654106103	442	8,401	SH		SOLE		6,601	0	6,601
Norfolk Southern Corp.	COM	655844108	1,721	17,730	SH		SOLE		17,680	0	17,680
Northrop Grumman Corp.	COM	666807102	311	1,454	SH		SOLE		1,454	0	1,454
Novartis AG - Sponsored ADR	COM	66987v109	541	6,848	SH		SOLE		6,848	0	6,848
ONE Gas, Inc.	COM	68235P108	1,150	18,602	SH		SOLE		18,540	0	18,540
ONEOK Inc.	COM	682680103	1,163	22,624	SH		SOLE		22,624	0	22,624
Old Dominion Freight Lines	COM	679580100	670	9,761	SH		SOLE		9,761	0	9,761
PB Bancorp, Inc.	COM	70454T100	136	15,716	SH		SOLE		15,716	0	15,716
PNC Financial Services Group	COM	693475105	1,732	19,226	SH		SOLE		19,226	0	19,226
Pattern Energy Group Inc.	COM	70338p100	11,031	490,496	SH		SOLE		483,331	0	483,331
PepsiCo, Inc.	COM	713448108	1,119	10,292	SH		SOLE		10,292	0	10,292
Pfizer, Inc.	COM	717081103	960	28,330	SH		SOLE		28,330	0	28,330
Philip Morris International, I	COM	718172109	3,067	31,552	SH		SOLE		28,272	0	28,272
Pioneer Natural Resources Co.	COM	723787107	9,819	52,892	SH		SOLE		51,987	0	51,987
Procter & Gamble Co.	COM	742718109	1,778	19,814	SH		SOLE		19,264	0	19,264
QS Energy, Inc.	COM	74736R106	4	28,000	SH		SOLE		20,000	0	20,000
Regeneron Pharmaceuticals	COM	75886F107	5,999	14,923	SH		SOLE		14,732	0	14,732
Rite Aid	COM	767754104	754	98,062	SH		SOLE		97,462	0	97,462
SPDR S&P Biotech ETF	COM	78464A870	322	4,850	SH		SOLE		4,850	0	4,850
Scorpio Tankers, Inc.	COM	Y7542C106	164	35,335	SH		SOLE		35,335	0	35,335
Sherwin-Williams Co.	COM	824348106	6,188	22,365	SH		SOLE		21,870	0	21,870
Shire PLC ADR	COM	82481R106	1,188	6,128	SH		SOLE		6,128	0	6,128
Simon Property Group, Inc.	COM	828806109	2,171	10,489	SH		SOLE		10,444	0	10,444
Spectra Energy Corp.	COM	847560109	1,977	46,248	SH		SOLE		46,048	0	46,048
Stanley Black & Decker, Inc.	COM	854502101	4,851	39,448	SH		SOLE		38,238	0	38,238
Starbucks Corp.	COM	855244109	214	3,944	SH		SOLE		3,944	0	3,944
Statoil ASA ADR	COM	85771P102	317	18,860	SH		SOLE		18,860	0	18,860
Stryker Corp.	COM	863667101	5,979	51,360	SH		SOLE		50,040	0	50,040
SunTrust Banks	COM	867914103	429	9,802	SH		SOLE		8,502	0	8,502
T-Mobile US, Inc.	COM	872590104	1,727	36,961	SH		SOLE		36,821	0	36,821
Target Corp.	COM	87612e106	8,157	118,770	SH		SOLE		117,620	0	117,620
The Kraft Heinz Company	COM	500754106	380	4,240	SH		SOLE		3,477	0	3,477
Union Pacific Corp.	COM	907818108	2,565	26,297	SH		SOLE		26,222	0	26,222
United Parcel Service, Inc.	COM	911312106	9,975	91,210	SH		SOLE		89,770	0	89,770
United Rentals Inc.	COM	911363109	316	4,024	SH		SOLE		4,024	0	4,024
United Technologies Corp.	COM	913017109	416	4,092	SH		SOLE		3,642	0	3,642
UnitedHealth Group Inc.	COM	91324p102	11,589	82,776	SH		SOLE		81,656	0	81,656
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	1,494	12,128	SH		SOLE		12,073	0	12,073
V. F. Corp.	COM	918204108	14,780	263,701	SH		SOLE		260,641	0	260,641
VanEck Vectors Global Alt. Ene	COM	92189F502	382	7,139	SH		SOLE		7,139	0	7,139
Vanguard REIT ETF	COM	922908553	613	7,064	SH		SOLE		7,064	0	7,064
Verizon Communications	COM	92343v104	17,741	341,297	SH		SOLE		338,352	0	338,352
Visa, Inc. Class A	COM	92826C839	21,696	262,345	SH		SOLE		259,610	0	259,610
Wal-Mart Stores, Inc.	COM	931142103	1,238	17,164	SH		SOLE		17,069	0	17,069
Walgreens Boots Alliance, Inc.	COM	931427108	437	5,420	SH		SOLE		5,420	0	5,420
Walt Disney Co.	COM	254687106	10,335	111,300	SH		SOLE		109,880	0	109,880
Wells Fargo & Co.	COM	949746101	4,969	112,209	SH		SOLE		110,809	0	110,809
Weyerhaeuser Co.	COM	962166104	7,249	226,952	SH		SOLE		223,827	0	223,827
Whiting Petroleum Corp.	COM	966387102	165	18,930	SH		SOLE		18,930	0	18,930
Worlds, Inc.	COM	98159J101	1	16,500	SH		SOLE		16,500	0	16,500
XPO Logistics, Inc.	COM	983793100	202	5,502	SH		SOLE		5,502	0	5,502
Guggenheim S&P 500 Equal Weigh	GUG S&P 500 EQ WT	78355w106	7,620	91,162	SH		SOLE		91,162	0	91,162
PowerShares QQQ - Nasdaq 100 I	UNIT SER 1	73935A104	8,614	72,556	SH		SOLE		72,356	0	72,356
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	7,505	34,698	SH		SOLE		34,493	0	34,493
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	473	5,611	SH		SOLE		5,611	0	5,611
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,669	5,911	SH		SOLE		5,831	0	5,831
Vanguard Dividend Appreciation	DIV APP ETF	921908844	613	7,304	SH		SOLE		7,304	0	7,304
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	1,749	24,249	SH		SOLE		24,249	0	24,249
Vanguard S&P 500 ETF	S&P 500 ETF SHS	922908363	480	2,417	SH		SOLE		2,417	0	2,417
Vanguard Small Cap ETF	SMALL CP ETF	922908751	1,989	16,281	SH		SOLE		16,281	0	16,281
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,772	15,918	SH		SOLE		15,918	0	15,918
iShares KLD 400 Social Index F	MSCI KLD400 SOC	464288570	331	4,115	SH		SOLE		4,115	0	4,115
iShares MSCI USA Quality Facto	MSCI USA QLT FAC	46432f339	1,548	22,943	SH		SOLE		22,943	0	22,943
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,661	15,942	SH		SOLE		15,942	0	15,942
iShares Russell 1000 Index	RUS 1000 ETF	464287622	514	4,265	SH		SOLE		4,265	0	4,265
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	658	5,130	SH		SOLE		5,130	0	5,130
iShares Russell Midcap Index F	RUS MID-CAP ETF	464287499	223	1,279	SH		SOLE		1,279	0	1,279
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	784	3,605	SH		SOLE		3,605	0	3,605
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	2,528	16,341	SH		SOLE		16,341	0	16,341
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	5,535	44,582	SH		SOLE		44,172	0	44,172
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	796	7,997	SH		SOLE		7,997	0	7,997
Vanguard FTSE All-World ex-US	ALLWRLD EX US	922042775	346	7,608	SH		SOLE		7,608	0	7,608
Vanguard MSCI Emerging Markets	FTSE EMR MKT ETF	922042858	207	5,498	SH		SOLE		5,498	0	5,498
WisdomTree Europe Hedged Equit	EUROPE HEDGED EQ	97717X701	938	17,447	SH		SOLE		17,322	0	17,322