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	1,230	6,886	SH		SOLE		6,886	0	6,886
AMN Healthcare Services Inc.	COM	001744101	3,190	82,977	SH		SOLE		81,172	0	81,172
AT&T Inc.	COM	00206R102	14,715	345,993	SH		SOLE		340,705	0	340,705
AbbVie, Inc.	COM	00287Y109	2,388	38,132	SH		SOLE		37,382	0	37,382
Abbott Laboratories	COM	002824100	3,896	101,432	SH		SOLE		101,432	0	101,432
Acacia Communications, Inc.	COM	00401C108	926	15,000	SH		SOLE		15,000	0	15,000
Accenture plc	COM	G1151C101	18,307	156,296	SH		SOLE		153,606	0	153,606
Advance Auto Parts, Inc.	COM	00751Y106	1,075	6,358	SH		SOLE		6,133	0	6,133
Aetna Inc	COM	00817y108	666	5,372	SH		SOLE		5,372	0	5,372
Affiliated Managers Group, Inc	COM	008252108	708	4,870	SH		SOLE		4,870	0	4,870
Air Products & Chem	COM	009158106	921	6,407	SH		SOLE		6,407	0	6,407
Akamai Technologies, Inc.	COM	00971t101	8,477	127,125	SH		SOLE		126,160	0	126,160
Alaska Air Group, Inc.	COM	011659109	686	7,730	SH		SOLE		7,730	0	7,730
Allergan plc	COM	G0177J108	1,483	7,062	SH		SOLE		7,032	0	7,032
Alphabet, Inc. Class A	COM	02079K305	28,685	36,198	SH		SOLE		35,612	0	35,612
Alphabet, Inc. Class C	COM	02079K107	3,158	4,092	SH		SOLE		3,992	0	3,992
Altria Group, Inc	COM	02209s103	290	4,287	SH		SOLE		2,307	0	2,307
Amazon.com, Inc.	COM	023135106	3,073	4,098	SH		SOLE		4,085	0	4,085
American Water Works Co., Inc.	COM	030420103	15,258	210,859	SH		SOLE		207,094	0	207,094
Amgen Inc.	COM	031162100	350	2,397	SH		SOLE		2,397	0	2,397
Apple, Inc.	COM	037833100	27,836	240,340	SH		SOLE		236,877	0	236,877
Ares Capital Corp.	COM	04010L103	356	21,585	SH		SOLE		21,585	0	21,585
Ashland Global Holdings, Inc.	COM	044186104	1,433	13,113	SH		SOLE		13,113	0	13,113
Automatic Data Processing, Inc	COM	053015103	2,167	21,083	SH		SOLE		21,013	0	21,013
Bank of America Corp.	COM	060505104	279	12,629	SH		SOLE		12,629	0	12,629
Bard (C.R.), Inc.	COM	067383109	14,247	63,417	SH		SOLE		62,117	0	62,117
Berkshire Hathaway Inc., Class	COM	084670108	244	1	SH		SOLE		1	0	1
Berkshire Hathaway Inc., Class	COM	084670702	2,263	13,886	SH		SOLE		13,811	0	13,811
Biogen, Inc.	COM	09062x103	391	1,378	SH		SOLE		1,203	0	1,203
Blackrock, Inc.	COM	09247x101	18,865	49,574	SH		SOLE		48,901	0	48,901
Blackstone Mortgage Trust, Inc	COM	09257w100	17,425	579,487	SH		SOLE		572,537	0	572,537
Boeing Co.	COM	097023105	270	1,734	SH		SOLE		1,734	0	1,734
Boston Beer Company, Inc. - Cl	COM	100557107	233	1,372	SH		SOLE		1,372	0	1,372
Bristol-Myers Squibb Co.	COM	110122108	517	8,842	SH		SOLE		8,842	0	8,842
Broadcom Limited	COM	Y09827109	23,934	135,396	SH		SOLE		133,229	0	133,229
CIGNA Corp.	COM	125509109	230	1,728	SH		SOLE		1,728	0	1,728
CVS Health Corporation	COM	126650100	16,848	213,507	SH		SOLE		211,107	0	211,107
Cambridge Bancorp	COM	132152109	1,872	30,050	SH		SOLE		30,050	0	30,050
Carlisle Cos.	COM	142339100	318	2,880	SH		SOLE		2,480	0	2,480
Celgene Corp	COM	151020104	13,334	115,197	SH		SOLE		113,077	0	113,077
Charles River Laboratories Int	COM	159864107	15,190	199,366	SH		SOLE		196,051	0	196,051
Charles Schwab Corp.	COM	808513105	21,640	548,252	SH		SOLE		539,402	0	539,402
Chevron Corp.	COM	166764100	5,736	48,734	SH		SOLE		48,604	0	48,604
Chubb Ltd.	COM	H1467J104	2,257	17,080	SH		SOLE		17,030	0	17,030
Cisco Systems, Inc.	COM	17275R102	1,751	57,943	SH		SOLE		57,733	0	57,733
Citizens Financial Group, Inc.	COM	174610105	12,009	337,037	SH		SOLE		331,612	0	331,612
Coca-Cola Co.	COM	191216100	223	5,382	SH		SOLE		5,232	0	5,232
Colgate-Palmolive Co.	COM	194162103	336	5,139	SH		SOLE		5,139	0	5,139
Comcast Corp.	COM	20030n101	17,691	256,209	SH		SOLE		251,794	0	251,794
Connecticut Water Service, Inc	COM	207797101	449	8,031	SH		SOLE		8,031	0	8,031
Costco Wholesale	COM	22160K105	14,970	93,497	SH		SOLE		92,443	0	92,443
Crown Castle International Cor	COM	22822V101	7,765	89,492	SH		SOLE		88,697	0	88,697
D. R. Horton Inc.	COM	23331a109	851	31,133	SH		SOLE		30,928	0	30,928
Darden Restaurants	COM	237194105	948	13,031	SH		SOLE		13,031	0	13,031
Delphi Automotive	COM	G27823106	1,345	19,970	SH		SOLE		19,895	0	19,895
Deutsche Telekom AG	COM	251566105	818	47,865	SH		SOLE		47,865	0	47,865
Discover Financial Services	COM	254709108	11,344	157,354	SH		SOLE		155,059	0	155,059
Dominion Resources	COM	25746u109	1,782	23,269	SH		SOLE		23,184	0	23,184
Dow Chemical Co.	COM	260543103	2,879	50,311	SH		SOLE		50,191	0	50,191
Du Pont (E.I.) de Nemours	COM	263534109	207	2,826	SH		SOLE		2,826	0	2,826
EOG Resources, Inc.	COM	26875P101	20,435	202,131	SH		SOLE		198,391	0	198,391
Eaton Corp PLC	COM	G29183103	279	4,161	SH		SOLE		4,161	0	4,161
Eli Lilly and Co.	COM	532457108	1,125	15,298	SH		SOLE		15,218	0	15,218
Enterprise Products Partners,	COM	293792107	754	27,892	SH		SOLE		25,592	0	25,592
Eversource Energy	COM	30040w108	439	7,951	SH		SOLE		7,951	0	7,951
Exxon Mobil Corp.	COM	30231g102	3,326	36,849	SH		SOLE		36,579	0	36,579
Facebook	COM	30303m102	9,614	83,560	SH		SOLE		82,895	0	82,895
First Trust Dow Jones Internet	COM	33733E302	2,251	28,199	SH		SOLE		28,039	0	28,039
Footlocker, Inc.	COM	344849104	279	3,929	SH		SOLE		2,229	0	2,229
Fortune Brands Home & Security	COM	34964C106	14,209	265,787	SH		SOLE		260,547	0	260,547
General Electric Co.	COM	369604103	5,672	179,485	SH		SOLE		178,885	0	178,885
General Mills, Inc.	COM	370334104	1,093	17,696	SH		SOLE		16,226	0	16,226
Gilead Sciences Inc.	COM	375558103	6,729	93,970	SH		SOLE		92,005	0	92,005
Golar LNG Ltd.	COM	G9456A100	647	28,210	SH		SOLE		28,210	0	28,210
Granite Construction Inc.	COM	387328107	759	13,807	SH		SOLE		13,807	0	13,807
Hain Celestial Group Inc.	COM	405217100	372	9,535	SH		SOLE		9,535	0	9,535
Hasbro Inc.	COM	418056107	13,104	168,456	SH		SOLE		165,671	0	165,671
Henry Schein, Inc.	COM	806407102	3,024	19,932	SH		SOLE		19,860	0	19,860
Hexcel Corp.	COM	428291108	5,729	111,366	SH		SOLE		109,746	0	109,746
Highwoods Properties, Inc.	COM	431284108	12,408	243,252	SH		SOLE		238,537	0	238,537
Home Depot, Inc.	COM	437076102	213	1,592	SH		SOLE		1,592	0	1,592
Honeywell International, Inc.	COM	438516106	1,454	12,548	SH		SOLE		12,548	0	12,548
IDEXX Laboratories, Inc.	COM	45168D104	634	5,410	SH		SOLE		5,410	0	5,410
Ingersoll-Rand	COM	G47791101	4,647	61,933	SH		SOLE		61,083	0	61,083
Int'l Business Machines Corp.	COM	459200101	946	5,696	SH		SOLE		5,696	0	5,696
Intel Corp.	COM	458140100	2,474	68,224	SH		SOLE		66,344	0	66,344
Interpublic Grp Cos	COM	460690100	3,022	129,111	SH		SOLE		126,101	0	126,101
Iron Mountain, Inc.	COM	46284V101	305	9,390	SH		SOLE		9,220	0	9,220
J.M. Smucker Co.	COM	832696405	9,570	74,734	SH		SOLE		73,669	0	73,669
J.P. Morgan Chase & Co.	COM	46625h100	6,007	69,610	SH		SOLE		69,423	0	69,423
Johnson & Johnson	COM	478160104	4,262	36,992	SH		SOLE		36,937	0	36,937
Johnson Controls International	COM	G51502105	3,718	90,268	SH		SOLE		88,523	0	88,523
Kimberly-Clark Corp.	COM	494368103	475	4,163	SH		SOLE		4,163	0	4,163
Lam Research	COM	512807108	6,649	62,887	SH		SOLE		62,147	0	62,147
Lincoln National Corp.	COM	534187109	3,806	57,437	SH		SOLE		56,287	0	56,287
Lockheed Martin Corp.	COM	539830109	3,429	13,718	SH		SOLE		13,667	0	13,667
Lowe's Companies, Inc.	COM	548661107	17,903	251,727	SH		SOLE		248,846	0	248,846
LyondellBasell Industries NV	COM	N53745100	779	9,078	SH		SOLE		9,008	0	9,008
MKS Instruments, Inc.	COM	55306N104	4,732	79,670	SH		SOLE		77,350	0	77,350
Macquarie Infrastructure Corp.	COM	55608B105	331	4,050	SH		SOLE		4,050	0	4,050
Marsh & McLennan	COM	571748102	14,489	214,362	SH		SOLE		210,377	0	210,377
McDonald's Corp.	COM	580135101	4,415	36,274	SH		SOLE		35,504	0	35,504
McKesson Corp.	COM	58155q103	7,797	55,517	SH		SOLE		54,912	0	54,912
Merck & Co., Inc.	COM	58933Y105	841	14,292	SH		SOLE		14,292	0	14,292
Micron Technology	COM	595112103	524	23,900	SH		SOLE		23,900	0	23,900
Microsoft Corp.	COM	594918104	19,599	315,408	SH		SOLE		308,663	0	308,663
Mid-America Apartment Communit	COM	59522j103	6,954	71,016	SH		SOLE		70,061	0	70,061
Mohawk Industries, Inc.	COM	608190104	4,998	25,032	SH		SOLE		24,392	0	24,392
Mondelez International, Inc.	COM	609207105	3,771	85,074	SH		SOLE		81,289	0	81,289
NXP Semiconductors NV	COM	N6596X109	1,390	14,182	SH		SOLE		14,032	0	14,032
NextEra Energy, Inc.	COM	65339F101	5,433	45,476	SH		SOLE		44,571	0	44,571
Nielsen Holdings, PLC	COM	G6518L108	2,538	60,503	SH		SOLE		58,628	0	58,628
Nike, Inc.	COM	654106103	450	8,861	SH		SOLE		7,061	0	7,061
Noble Energy Inc.	COM	655044105	4,153	109,119	SH		SOLE		107,479	0	107,479
Norfolk Southern Corp.	COM	655844108	1,711	15,830	SH		SOLE		15,780	0	15,780
Northrop Grumman Corp.	COM	666807102	460	1,979	SH		SOLE		1,979	0	1,979
Novartis AG - Sponsored ADR	COM	66987v109	424	5,821	SH		SOLE		5,821	0	5,821
ONE Gas, Inc.	COM	68235P108	1,173	18,333	SH		SOLE		18,271	0	18,271
ONEOK Inc.	COM	682680103	2,463	42,895	SH		SOLE		42,750	0	42,750
Old Dominion Freight Lines	COM	679580100	837	9,761	SH		SOLE		9,761	0	9,761
PB Bancorp, Inc.	COM	70454T100	156	15,716	SH		SOLE		15,716	0	15,716
PNC Financial Services Group	COM	693475105	2,291	19,584	SH		SOLE		19,584	0	19,584
Pattern Energy Group Inc.	COM	70338p100	3,299	173,732	SH		SOLE		169,892	0	169,892
PepsiCo, Inc.	COM	713448108	1,023	9,780	SH		SOLE		9,780	0	9,780
Pfizer, Inc.	COM	717081103	890	27,414	SH		SOLE		27,091	0	27,091
Philip Morris International, I	COM	718172109	467	5,102	SH		SOLE		2,367	0	2,367
Pioneer Natural Resources Co.	COM	723787107	11,049	61,358	SH		SOLE		60,373	0	60,373
Procter & Gamble Co.	COM	742718109	6,290	74,813	SH		SOLE		73,483	0	73,483
QS Energy, Inc.	COM	74736R106	1	28,000	SH		SOLE		20,000	0	20,000
Qualcomm,Inc.	COM	747525103	215	3,299	SH		SOLE		3,299	0	3,299
Regeneron Pharmaceuticals	COM	75886F107	5,400	14,709	SH		SOLE		14,408	0	14,408
Rite Aid	COM	767754104	762	92,455	SH		SOLE		91,855	0	91,855
SPDR KBW Regional Banking ETF	COM	78464A698	1,010	18,175	SH		SOLE		18,050	0	18,050
SPDR S&P Biotech ETF	COM	78464A870	227	3,835	SH		SOLE		3,835	0	3,835
Sherwin-Williams Co.	COM	824348106	5,429	20,202	SH		SOLE		19,932	0	19,932
Shire PLC ADR	COM	82481R106	941	5,523	SH		SOLE		5,523	0	5,523
Spectra Energy Corp.	COM	847560109	1,350	32,855	SH		SOLE		32,655	0	32,655
Stanley Black & Decker, Inc.	COM	854502101	11,515	100,399	SH		SOLE		98,424	0	98,424
Statoil ASA ADR	COM	85771P102	594	32,576	SH		SOLE		32,576	0	32,576
Stryker Corp.	COM	863667101	5,735	47,865	SH		SOLE		46,545	0	46,545
SunTrust Banks	COM	867914103	538	9,802	SH		SOLE		8,502	0	8,502
T-Mobile US, Inc.	COM	872590104	1,910	33,208	SH		SOLE		33,068	0	33,068
Target Corp.	COM	87612e106	8,386	116,099	SH		SOLE		114,799	0	114,799
Texas Instruments Inc.	COM	882508104	1,803	24,702	SH		SOLE		24,602	0	24,602
The Kraft Heinz Company	COM	500754106	370	4,240	SH		SOLE		3,477	0	3,477
Thermo Fisher Scientific, Inc.	COM	883556102	506	3,587	SH		SOLE		3,587	0	3,587
Tyler Technologies	COM	902252105	3,503	24,537	SH		SOLE		24,537	0	24,537
U.S. Bancorp	COM	902973304	2,328	45,328	SH		SOLE		45,173	0	45,173
Unilever N.V.	COM	904784709	256	6,244	SH		SOLE		6,244	0	6,244
Union Pacific Corp.	COM	907818108	3,694	35,632	SH		SOLE		35,487	0	35,487
United Parcel Service, Inc.	COM	911312106	10,212	89,081	SH		SOLE		87,641	0	87,641
United Technologies Corp.	COM	913017109	449	4,092	SH		SOLE		3,642	0	3,642
UnitedHealth Group Inc.	COM	91324p102	12,864	80,382	SH		SOLE		79,262	0	79,262
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
Universal Health Services, Inc	COM	913903100	531	4,992	SH		SOLE		4,992	0	4,992
V. F. Corp.	COM	918204108	13,446	252,031	SH		SOLE		248,971	0	248,971
Vanguard REIT ETF	COM	922908553	548	6,644	SH		SOLE		6,644	0	6,644
Verizon Communications	COM	92343v104	14,267	267,277	SH		SOLE		263,507	0	263,507
Visa, Inc. Class A	COM	92826C839	21,303	273,049	SH		SOLE		269,164	0	269,164
Wal-Mart Stores, Inc.	COM	931142103	515	7,445	SH		SOLE		7,350	0	7,350
Walgreens Boots Alliance, Inc.	COM	931427108	545	6,582	SH		SOLE		6,582	0	6,582
Walt Disney Co.	COM	254687106	11,297	108,394	SH		SOLE		106,974	0	106,974
Wells Fargo & Co.	COM	949746101	3,254	59,046	SH		SOLE		57,741	0	57,741
Weyerhaeuser Co.	COM	962166104	5,704	189,569	SH		SOLE		186,444	0	186,444
Whiting Petroleum Corp.	COM	966387102	218	18,155	SH		SOLE		18,155	0	18,155
Worlds, Inc.	COM	98159J101	0	16,500	SH		SOLE		16,500	0	16,500
XPO Logistics, Inc.	COM	983793100	237	5,502	SH		SOLE		5,502	0	5,502
Guggenheim S&P 500 Equal Weigh	GUG S&P 500 EQ WT	78355w106	8,670	100,067	SH		SOLE		100,067	0	100,067
PowerShares QQQ - Nasdaq 100 I	UNIT SER 1	73935A104	8,658	73,077	SH		SOLE		72,877	0	72,877
PowerShares S&P 500 Low Volati	S&P 500 LOW VOL	73937B779	243	5,856	SH		SOLE		5,856	0	5,856
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	8,830	39,503	SH		SOLE		39,298	0	39,298
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	477	5,571	SH		SOLE		5,571	0	5,571
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,751	5,804	SH		SOLE		5,724	0	5,724
Schwab U.S. Large-Cap ETF	US LRG CAP ETF	808524201	1,690	31,738	SH		SOLE		31,738	0	31,738
Schwab U.S. Small-Cap ETF	US SML CAP ETF	808524607	328	5,332	SH		SOLE		5,332	0	5,332
Vanguard Dividend Appreciation	DIV APP ETF	921908844	452	5,304	SH		SOLE		5,304	0	5,304
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	1,688	22,274	SH		SOLE		22,274	0	22,274
Vanguard S&P 500 ETF	S&P 500 ETF SHS	922908363	1,545	7,526	SH		SOLE		7,526	0	7,526
Vanguard Small Cap ETF	SMALL CP ETF	922908751	2,101	16,289	SH		SOLE		16,289	0	16,289
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,626	14,103	SH		SOLE		14,103	0	14,103
iShares KLD 400 Social Index F	MSCI KLD400 SOC	464288570	339	4,115	SH		SOLE		4,115	0	4,115
iShares MSCI USA Quality Facto	MSCI USA QLT FAC	46432f339	576	8,335	SH		SOLE		8,335	0	8,335
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,681	16,023	SH		SOLE		16,023	0	16,023
iShares Russell 1000 Index	RUS 1000 ETF	464287622	534	4,290	SH		SOLE		4,290	0	4,290
iShares Russell 2000 Index Fun	RUSSELL 2000 ETF	464287655	251	1,862	SH		SOLE		1,812	0	1,812
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	681	5,120	SH		SOLE		5,120	0	5,120
iShares Russell Midcap Index F	RUS MID-CAP ETF	464287499	292	1,630	SH		SOLE		1,630	0	1,630
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	1,653	7,347	SH		SOLE		7,347	0	7,347
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	2,759	16,684	SH		SOLE		16,684	0	16,684
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	6,472	47,060	SH		SOLE		46,600	0	46,600
Schwab Emerging Markets Equity	EMRG MKTEQ ETF	808524706	374	17,369	SH		SOLE		17,369	0	17,369
Schwab International Equity ET	INTL EQTY ETF	808524805	976	35,247	SH		SOLE		35,247	0	35,247
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	722	7,676	SH		SOLE		7,676	0	7,676
Vanguard FTSE All-World ex-US	ALLWRLD EX US	922042775	448	10,149	SH		SOLE		10,149	0	10,149
Vanguard MSCI Emerging Markets	FTSE EMR MKT ETF	922042858	1,160	32,410	SH		SOLE		32,235	0	32,235
WisdomTree Europe Hedged Equit	EUROPE HEDGED EQ	97717X701	463	8,072	SH		SOLE		8,072	0	8,072
iShare Core MSCI EAFE ETF	CORE MSCI EAFE	46432F842	360	6,715	SH		SOLE		6,715	0	6,715
iShares Core MSCI Emerging Mar	CORE MSCI EMKT	46434g103	232	5,468	SH		SOLE		5,468	0	5,468
iShares MSCI EAFE Index Fund	MSCI EAFE ETF	464287465	276	4,788	SH		SOLE		4,788	0	4,788