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	1,355	7,082	SH		SOLE		7,082	0	7,082
AMN Healthcare Services Inc.	COM	001744101	3,362	82,799	SH		SOLE		80,994	0	80,994
AT&T Inc.	COM	00206R102	14,429	347,266	SH		SOLE		341,978	0	341,978
AbbVie, Inc.	COM	00287Y109	5,353	82,145	SH		SOLE		81,250	0	81,250
Abbott Laboratories	COM	002824100	4,761	107,200	SH		SOLE		107,200	0	107,200
Acacia Communications, Inc.	COM	00401C108	352	6,000	SH		SOLE		6,000	0	6,000
Accenture plc	COM	G1151C101	17,741	147,990	SH		SOLE		145,480	0	145,480
Advance Auto Parts, Inc.	COM	00751Y106	883	5,953	SH		SOLE		5,728	0	5,728
Aetna Inc	COM	00817y108	2,244	17,593	SH		SOLE		17,533	0	17,533
Affiliated Managers Group, Inc	COM	008252108	966	5,892	SH		SOLE		5,892	0	5,892
Air Products & Chem	COM	009158106	222	1,644	SH		SOLE		1,644	0	1,644
Akamai Technologies, Inc.	COM	00971t101	248	4,160	SH		SOLE		4,160	0	4,160
Alaska Air Group, Inc.	COM	011659109	701	7,605	SH		SOLE		7,605	0	7,605
Allergan plc	COM	G0177J108	1,626	6,804	SH		SOLE		6,774	0	6,774
Alphabet, Inc. Class A	COM	02079K305	30,973	36,533	SH		SOLE		35,989	0	35,989
Alphabet, Inc. Class C	COM	02079K107	4,281	5,161	SH		SOLE		5,061	0	5,061
Altria Group, Inc	COM	02209s103	295	4,137	SH		SOLE		2,307	0	2,307
Amazon.com, Inc.	COM	023135106	9,015	10,169	SH		SOLE		10,102	0	10,102
American Water Works Co., Inc.	COM	030420103	14,460	185,927	SH		SOLE		182,487	0	182,487
Amgen Inc.	COM	031162100	328	1,999	SH		SOLE		1,999	0	1,999
Analog Devices	COM	032654105	818	9,979	SH		SOLE		9,979	0	9,979
Apple, Inc.	COM	037833100	35,743	248,800	SH		SOLE		245,387	0	245,387
Ares Capital Corp.	COM	04010L103	363	20,885	SH		SOLE		20,885	0	20,885
Ashland Global Holdings, Inc.	COM	044186104	1,555	12,560	SH		SOLE		12,560	0	12,560
Automatic Data Processing, Inc	COM	053015103	1,833	17,906	SH		SOLE		17,836	0	17,836
BB&T Corp.	COM	054937107	1,242	27,789	SH		SOLE		27,789	0	27,789
Bank of America Corp.	COM	060505104	1,227	52,029	SH		SOLE		52,029	0	52,029
Bard (C.R.), Inc.	COM	067383109	15,403	61,974	SH		SOLE		60,749	0	60,749
Baxter International Inc.	COM	071813109	203	3,911	SH		SOLE		3,911	0	3,911
Berkshire Hathaway Inc., Class	COM	084670108	250	1	SH		SOLE		1	0	1
Berkshire Hathaway Inc., Class	COM	084670702	3,143	18,857	SH		SOLE		18,782	0	18,782
Biogen, Inc.	COM	09062x103	981	3,588	SH		SOLE		3,413	0	3,413
Bioverativ, Inc.	COM	09075E100	411	7,548	SH		SOLE		7,461	0	7,461
Blackrock, Inc.	COM	09247x101	20,014	52,186	SH		SOLE		51,513	0	51,513
Blackstone Mortgage Trust, Inc	COM	09257w100	17,640	569,779	SH		SOLE		562,829	0	562,829
Boeing Co.	COM	097023105	321	1,814	SH		SOLE		1,814	0	1,814
Bristol-Myers Squibb Co.	COM	110122108	1,432	26,339	SH		SOLE		26,339	0	26,339
Broadcom Limited	COM	Y09827109	24,815	113,329	SH		SOLE		111,392	0	111,392
CIGNA Corp.	COM	125509109	253	1,728	SH		SOLE		1,728	0	1,728
CVS Health Corporation	COM	126650100	8,965	114,206	SH		SOLE		112,446	0	112,446
Cambridge Bancorp	COM	132152109	1,953	30,050	SH		SOLE		30,050	0	30,050
Carlisle Cos.	COM	142339100	306	2,880	SH		SOLE		2,480	0	2,480
Celgene Corp	COM	151020104	17,226	138,438	SH		SOLE		136,058	0	136,058
Charles River Laboratories Int	COM	159864107	12,869	143,069	SH		SOLE		140,559	0	140,559
Charles Schwab Corp.	COM	808513105	20,010	490,314	SH		SOLE		482,569	0	482,569
Chevron Corp.	COM	166764100	4,942	46,024	SH		SOLE		45,894	0	45,894
Chubb Ltd.	COM	H1467J104	2,925	21,465	SH		SOLE		21,415	0	21,415
Cisco Systems, Inc.	COM	17275R102	2,496	73,840	SH		SOLE		73,630	0	73,630
Citizens Financial Group, Inc.	COM	174610105	11,838	342,626	SH		SOLE		337,201	0	337,201
Coca-Cola Co.	COM	191216100	584	13,761	SH		SOLE		13,611	0	13,611
Colgate-Palmolive Co.	COM	194162103	334	4,559	SH		SOLE		4,559	0	4,559
Comcast Corp.	COM	20030n101	19,831	527,549	SH		SOLE		518,719	0	518,719
Connecticut Water Service, Inc	COM	207797101	427	8,031	SH		SOLE		8,031	0	8,031
Costco Wholesale	COM	22160K105	15,117	90,148	SH		SOLE		89,094	0	89,094
Crown Castle International Cor	COM	22822V101	8,594	90,987	SH		SOLE		90,149	0	90,149
D. R. Horton Inc.	COM	23331a109	857	25,741	SH		SOLE		25,536	0	25,536
Danaher Corp.	COM	235851102	617	7,215	SH		SOLE		7,215	0	7,215
Darden Restaurants	COM	237194105	2,264	27,061	SH		SOLE		26,956	0	26,956
Delphi Automotive	COM	G27823106	1,594	19,805	SH		SOLE		19,730	0	19,730
Deutsche Telekom AG	COM	251566105	840	47,865	SH		SOLE		47,865	0	47,865
Discover Financial Services	COM	254709108	11,101	162,320	SH		SOLE		159,610	0	159,610
Dominion Resources	COM	25746u109	1,632	21,039	SH		SOLE		20,954	0	20,954
Dow Chemical Co.	COM	260543103	3,083	48,516	SH		SOLE		48,396	0	48,396
Dr. Pepper Snapple Group, Inc.	COM	26138E109	1,824	18,627	SH		SOLE		18,545	0	18,545
Du Pont (E.I.) de Nemours	COM	263534109	227	2,826	SH		SOLE		2,826	0	2,826
EOG Resources, Inc.	COM	26875P101	20,084	205,889	SH		SOLE		202,149	0	202,149
Eli Lilly and Co.	COM	532457108	1,773	21,076	SH		SOLE		20,996	0	20,996
Enterprise Products Partners,	COM	293792107	790	28,604	SH		SOLE		26,304	0	26,304
Exxon Mobil Corp.	COM	30231g102	3,597	43,866	SH		SOLE		43,596	0	43,596
Facebook	COM	30303m102	16,904	118,998	SH		SOLE		117,878	0	117,878
First Trust Dow Jones Internet	COM	33733E302	2,303	26,154	SH		SOLE		25,994	0	25,994
FleetCor Technologies, Inc.	COM	339041105	747	4,930	SH		SOLE		4,930	0	4,930
Footlocker, Inc.	COM	344849104	294	3,929	SH		SOLE		2,229	0	2,229
Fortune Brands Home & Security	COM	34964C106	15,272	250,982	SH		SOLE		246,797	0	246,797
General Electric Co.	COM	369604103	3,953	132,662	SH		SOLE		132,452	0	132,452
General Mills, Inc.	COM	370334104	516	8,743	SH		SOLE		7,393	0	7,393
Gilead Sciences Inc.	COM	375558103	4,795	70,598	SH		SOLE		69,043	0	69,043
Golar LNG Ltd.	COM	G9456A100	631	22,580	SH		SOLE		22,580	0	22,580
Granite Construction Inc.	COM	387328107	787	15,680	SH		SOLE		15,545	0	15,545
Hasbro Inc.	COM	418056107	15,994	160,227	SH		SOLE		157,442	0	157,442
Henry Schein, Inc.	COM	806407102	3,171	18,658	SH		SOLE		18,586	0	18,586
Hexcel Corp.	COM	428291108	6,123	112,237	SH		SOLE		110,617	0	110,617
Highwoods Properties, Inc.	COM	431284108	11,902	242,250	SH		SOLE		237,535	0	237,535
Home Depot, Inc.	COM	437076102	1,389	9,463	SH		SOLE		9,463	0	9,463
Honeywell International, Inc.	COM	438516106	2,550	20,423	SH		SOLE		20,423	0	20,423
IDEXX Laboratories, Inc.	COM	45168D104	836	5,410	SH		SOLE		5,410	0	5,410
Industrials Select Sector Inde	COM	81369y704	873	13,424	SH		SOLE		13,299	0	13,299
Ingersoll-Rand	COM	G47791101	6,766	83,201	SH		SOLE		82,256	0	82,256
Int'l Business Machines Corp.	COM	459200101	958	5,503	SH		SOLE		5,503	0	5,503
Intel Corp.	COM	458140100	2,647	73,378	SH		SOLE		73,378	0	73,378
Interpublic Grp Cos	COM	460690100	2,775	112,956	SH		SOLE		109,946	0	109,946
J.M. Smucker Co.	COM	832696405	9,696	73,972	SH		SOLE		72,907	0	72,907
J.P. Morgan Chase & Co.	COM	46625h100	6,977	79,423	SH		SOLE		79,236	0	79,236
Johnson & Johnson	COM	478160104	5,250	42,154	SH		SOLE		42,099	0	42,099
Johnson Controls International	COM	G51502105	4,359	103,490	SH		SOLE		101,745	0	101,745
Kimberly-Clark Corp.	COM	494368103	541	4,112	SH		SOLE		4,112	0	4,112
Lam Research	COM	512807108	13,919	108,433	SH		SOLE		107,333	0	107,333
Lincoln National Corp.	COM	534187109	1,806	27,592	SH		SOLE		27,057	0	27,057
Lockheed Martin Corp.	COM	539830109	3,360	12,557	SH		SOLE		12,506	0	12,506
Lowe's Companies, Inc.	COM	548661107	18,893	229,813	SH		SOLE		227,007	0	227,007
LyondellBasell Industries NV	COM	N53745100	816	8,943	SH		SOLE		8,873	0	8,873
MKS Instruments, Inc.	COM	55306N104	5,408	78,665	SH		SOLE		76,830	0	76,830
Macquarie Infrastructure Corp.	COM	55608B105	310	3,850	SH		SOLE		3,850	0	3,850
Marathon Petroleum Corp.	COM	56585a102	371	7,336	SH		SOLE		7,186	0	7,186
Marsh & McLennan	COM	571748102	16,445	222,565	SH		SOLE		218,580	0	218,580
Materials Select Sector SPDR T	COM	81369Y100	1,391	26,550	SH		SOLE		26,550	0	26,550
McDonald's Corp.	COM	580135101	4,898	37,789	SH		SOLE		37,254	0	37,254
McKesson Corp.	COM	58155q103	7,486	50,492	SH		SOLE		49,887	0	49,887
Merck & Co., Inc.	COM	58933Y105	1,909	30,042	SH		SOLE		30,042	0	30,042
Micron Technology	COM	595112103	587	20,300	SH		SOLE		20,300	0	20,300
Microsoft Corp.	COM	594918104	21,622	328,304	SH		SOLE		321,779	0	321,779
Mid-America Apartment Communit	COM	59522j103	7,245	71,210	SH		SOLE		70,255	0	70,255
Mohawk Industries, Inc.	COM	608190104	5,753	25,069	SH		SOLE		24,429	0	24,429
Mondelez International, Inc.	COM	609207105	3,888	90,239	SH		SOLE		86,454	0	86,454
NXP Semiconductors NV	COM	N6596X109	1,659	16,032	SH		SOLE		15,882	0	15,882
NextEra Energy, Inc.	COM	65339F101	6,499	50,627	SH		SOLE		49,722	0	49,722
Nielsen Holdings, PLC	COM	G6518L108	2,015	48,785	SH		SOLE		47,735	0	47,735
Nike, Inc.	COM	654106103	551	9,895	SH		SOLE		8,095	0	8,095
Noble Energy Inc.	COM	655044105	5,524	160,859	SH		SOLE		157,504	0	157,504
Norfolk Southern Corp.	COM	655844108	1,257	11,225	SH		SOLE		11,225	0	11,225
Northrop Grumman Corp.	COM	666807102	595	2,501	SH		SOLE		2,501	0	2,501
Nucor Corp.	COM	670346105	6,067	101,597	SH		SOLE		100,412	0	100,412
ONE Gas, Inc.	COM	68235P108	1,228	18,173	SH		SOLE		18,111	0	18,111
ONEOK Inc.	COM	682680103	2,477	44,671	SH		SOLE		44,526	0	44,526
Old Dominion Freight Lines	COM	679580100	685	8,001	SH		SOLE		8,001	0	8,001
PB Bancorp, Inc.	COM	70454T100	160	15,716	SH		SOLE		15,716	0	15,716
PG&E Corp.	COM	69331C108	1,742	26,250	SH		SOLE		25,390	0	25,390
PNC Financial Services Group	COM	693475105	6,859	57,045	SH		SOLE		56,465	0	56,465
Pattern Energy Group Inc.	COM	70338p100	909	45,145	SH		SOLE		45,145	0	45,145
PepsiCo, Inc.	COM	713448108	1,062	9,496	SH		SOLE		9,496	0	9,496
Pfizer, Inc.	COM	717081103	1,031	30,124	SH		SOLE		29,801	0	29,801
Philip Morris International, I	COM	718172109	549	4,860	SH		SOLE		2,510	0	2,510
Pioneer Natural Resources Co.	COM	723787107	11,815	63,443	SH		SOLE		62,458	0	62,458
Procter & Gamble Co.	COM	742718109	7,248	80,665	SH		SOLE		79,335	0	79,335
QS Energy, Inc.	COM	74736R106	2	28,000	SH		SOLE		20,000	0	20,000
Qualcomm,Inc.	COM	747525103	269	4,697	SH		SOLE		4,697	0	4,697
Regeneron Pharmaceuticals	COM	75886F107	6,664	17,196	SH		SOLE		16,895	0	16,895
Rite Aid	COM	767754104	179	42,055	SH		SOLE		42,055	0	42,055
SPDR KBW Regional Banking ETF	COM	78464A698	1,476	27,020	SH		SOLE		26,895	0	26,895
SPDR S&P Biotech ETF	COM	78464A870	266	3,835	SH		SOLE		3,835	0	3,835
Schlumberger Ltd.	COM	806857108	403	5,161	SH		SOLE		5,161	0	5,161
Sherwin-Williams Co.	COM	824348106	6,177	19,914	SH		SOLE		19,644	0	19,644
Shire PLC ADR	COM	82481R106	998	5,728	SH		SOLE		5,728	0	5,728
Siemens AG (ADR)	COM	826197501	13,239	193,266	SH		SOLE		190,806	0	190,806
Stanley Black & Decker, Inc.	COM	854502101	13,855	104,272	SH		SOLE		102,297	0	102,297
Statoil ASA ADR	COM	85771P102	566	32,950	SH		SOLE		32,950	0	32,950
Stryker Corp.	COM	863667101	6,085	46,224	SH		SOLE		45,089	0	45,089
SunTrust Banks	COM	867914103	501	9,052	SH		SOLE		7,752	0	7,752
T-Mobile US, Inc.	COM	872590104	2,082	32,227	SH		SOLE		32,087	0	32,087
TJX Companies	COM	872540109	1,473	18,630	SH		SOLE		18,630	0	18,630
Target Corp.	COM	87612e106	6,008	108,858	SH		SOLE		107,558	0	107,558
Texas Instruments Inc.	COM	882508104	1,964	24,376	SH		SOLE		24,276	0	24,276
The Kraft Heinz Company	COM	500754106	1,656	18,240	SH		SOLE		17,477	0	17,477
Thermo Fisher Scientific, Inc.	COM	883556102	2,850	18,558	SH		SOLE		18,123	0	18,123
Tyler Technologies	COM	902252105	5,072	32,818	SH		SOLE		32,818	0	32,818
U.S. Bancorp	COM	902973304	3,216	62,438	SH		SOLE		62,283	0	62,283
Unilever N.V.	COM	904784709	443	8,911	SH		SOLE		8,911	0	8,911
Union Pacific Corp.	COM	907818108	3,618	34,161	SH		SOLE		34,016	0	34,016
United Parcel Service, Inc.	COM	911312106	560	5,220	SH		SOLE		5,220	0	5,220
United Technologies Corp.	COM	913017109	484	4,311	SH		SOLE		3,861	0	3,861
UnitedHealth Group Inc.	COM	91324p102	14,122	86,106	SH		SOLE		84,986	0	84,986
Universal Beverage Holding Cor	COM	91337w102	0	260,000	SH		SOLE		260,000	0	260,000
V. F. Corp.	COM	918204108	6,987	127,110	SH		SOLE		125,255	0	125,255
Valero Energy Corp.	COM	91913Y100	1,364	20,583	SH		SOLE		20,468	0	20,468
VanEck Vectors Global Alt. Ene	COM	92189F502	211	3,821	SH		SOLE		3,821	0	3,821
Vanguard REIT ETF	COM	922908553	473	5,728	SH		SOLE		5,728	0	5,728
Verizon Communications	COM	92343v104	5,269	108,085	SH		SOLE		106,335	0	106,335
Visa, Inc. Class A	COM	92826C839	24,573	276,505	SH		SOLE		272,895	0	272,895
Walgreens Boots Alliance, Inc.	COM	931427108	6,217	74,860	SH		SOLE		73,630	0	73,630
Walt Disney Co.	COM	254687106	12,925	113,986	SH		SOLE		112,566	0	112,566
Wells Fargo & Co.	COM	949746101	5,292	95,070	SH		SOLE		93,665	0	93,665
Weyerhaeuser Co.	COM	962166104	629	18,512	SH		SOLE		18,512	0	18,512
Whiting Petroleum Corp.	COM	966387102	167	17,605	SH		SOLE		17,605	0	17,605
XPO Logistics, Inc.	COM	983793100	521	10,873	SH		SOLE		10,873	0	10,873
Xylem, Inc.	COM	98419M100	894	17,806	SH		SOLE		17,806	0	17,806
Guggenheim S&P 500 Equal Weigh	GUG S&P 500 EQ WT	78355w106	9,342	102,868	SH		SOLE		102,868	0	102,868
PowerShares QQQ - Nasdaq 100 I	UNIT SER 1	73935A104	9,418	71,146	SH		SOLE		70,946	0	70,946
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	8,259	35,036	SH		SOLE		34,831	0	34,831
SPDR S&P Dividend ETF	S&P DIVID ETF	78464A763	517	5,871	SH		SOLE		5,871	0	5,871
SPDR S&P MidCap 400 ETF Trust	UTSER1 S&PDCRP	78467Y107	1,788	5,724	SH		SOLE		5,644	0	5,644
Schwab U.S. Large-Cap ETF	US LRG CAP ETF	808524201	3,551	63,101	SH		SOLE		63,101	0	63,101
Schwab U.S. Small-Cap ETF	US SML CAP ETF	808524607	750	11,915	SH		SOLE		11,865	0	11,865
Vanguard Dividend Appreciation	DIV APP ETF	921908844	457	5,085	SH		SOLE		5,085	0	5,085
Vanguard High Dividend Yield I	HIGH DIV YLD	921946406	1,683	21,670	SH		SOLE		21,670	0	21,670
Vanguard S&P 500 ETF	S&P 500 ETF SHS	922908363	1,885	8,712	SH		SOLE		8,712	0	8,712
Vanguard Small Cap ETF	SMALL CP ETF	922908751	2,336	17,530	SH		SOLE		17,530	0	17,530
Vanguard Total Stock Market ET	TOTAL STK MKT	922908769	1,783	14,698	SH		SOLE		14,698	0	14,698
iShares KLD 400 Social Index F	MSCI KLD400 SOC	464288570	352	4,055	SH		SOLE		4,055	0	4,055
iShares MSCI USA Quality Facto	USA QUALITY FCTR	46432f339	514	7,060	SH		SOLE		7,060	0	7,060
iShares Russell 1000 Growth In	RUSSELL1000GRW	464287614	1,819	15,988	SH		SOLE		15,988	0	15,988
iShares Russell 1000 Index	RUS 1000 ETF	464287622	565	4,302	SH		SOLE		4,302	0	4,302
iShares Russell 2000 Index Fun	RUSSELL 2000 ETF	464287655	256	1,862	SH		SOLE		1,812	0	1,812
iShares Russell 3000 Index Fun	RUSSELL 3000	464287689	699	5,000	SH		SOLE		5,000	0	5,000
iShares Russell Midcap Index F	RUS MID CAP ETF	464287499	305	1,630	SH		SOLE		1,630	0	1,630
iShares S&P 500 Index Fund	CORE S&P500 ETF	464287200	2,418	10,189	SH		SOLE		10,189	0	10,189
iShares S&P MidCap 400 Index F	CORE S&P MCP ETF	464287507	3,807	22,232	SH		SOLE		22,187	0	22,187
iShares S&P SmallCap 600 Index	CORE S&P SCP ETF	464287804	7,197	104,062	SH		SOLE		103,142	0	103,142
Schwab Emerging Markets Equity	EMRG MKTEQ ETF	808524706	757	31,571	SH		SOLE		31,171	0	31,171
Schwab International Equity ET	INTL EQTY ETF	808524805	1,361	45,567	SH		SOLE		45,567	0	45,567
Vanguard FTSE All-Wld ex-US Sm	FTSE SMCAP ETF	922042718	6,537	63,685	SH		SOLE		62,785	0	62,785
Vanguard FTSE All-World ex-US	ALLWRLD EX US	922042775	1,880	39,315	SH		SOLE		39,315	0	39,315
Vanguard MSCI EAFE ETF	FTSE EMR MKT ETF	921943858	2,912	74,090	SH		SOLE		74,090	0	74,090
Vanguard MSCI Emerging Markets	FTSE EMR MKT ETF	922042858	2,362	59,475	SH		SOLE		59,300	0	59,300
WisdomTree Europe Hedged Equit	EUROPE HEDGED EQ	97717X701	478	7,617	SH		SOLE		7,617	0	7,617
iShare Core MSCI EAFE ETF	CORE MSCI EAFE	46432F842	599	10,341	SH		SOLE		10,341	0	10,341
iShares Core MSCI Emerging Mar	CORE MSCI EMKT	46434g103	331	6,917	SH		SOLE		6,917	0	6,917
iShares MSCI EAFE Index Fund	MSCI EAFE ETF	464287465	351	5,637	SH		SOLE		5,637	0	5,637
iShares MSCI India ETF	MSCI INDIA ETF	46429B598	704	22,350	SH		SOLE		22,350	0	22,350