# Putnam Investment Management, LLC

> Putnam Investment Management, LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 1971, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 16, 2026.

- CRD: 106629
- Filed as: PUTNAM INVESTMENT MANAGEMENT, LLC
- Also doing business as: 37 CAPITAL, PUTNAM INVESTMENTS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: September 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106629
- AdvisorCensus page: https://advisorcensus.com/firm/putnam-investment-management-llc-boston-ma-106629

## Quick answers

**How is Putnam Investment Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Putnam Investment Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Putnam Investment Management, LLC located?**
Putnam Investment Management, LLC's principal office is in Boston, MA, according to its Form ADV.

**Is Putnam Investment Management, LLC registered with the SEC or a state?**
Putnam Investment Management, LLC is an SEC-registered investment advisory firm, registered since 1971. Status as filed: Approved. CRD 106629.

**How much does Putnam Investment Management, LLC manage?**
Putnam Investment Management, LLC reports $117,238,832,053 in regulatory assets under management in its Form ADV filing dated September 16, 2026 (94% discretionary).

**How have Putnam Investment Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Putnam Investment Management, LLC: Regulatory assets under management: $112,250,309,678 in the October 2021 data and $117,238,832,053 in the October 2026 data, up 4%. Total employees: 302 in October 2021 and 139 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Putnam Investment Management, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (16,168); corporations or other businesses not listed above (87); investment companies (63).

**Which custodians does Putnam Investment Management, LLC use?**
Putnam Investment Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Merrill Lynch, Pierce, Fenner & Smith, Inc., Morgan Stanley and Raymond James Financial, Inc. as custodians holding 10% or more of its separately managed account assets.

**Does Putnam Investment Management, LLC report any disciplinary disclosures?**
Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(1) (SEC or CFTC finding of a false statement or omission), 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106629

**What changed in Putnam Investment Management, LLC's recent Form ADV filings?**
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Merrill Lynch, Pierce, Fenner & Smith, Inc.
- Morgan Stanley
- Raymond James Financial, Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $117,238,832,053
- Discretionary: $110,554,689,541
- Non-discretionary: $6,684,142,512

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 16,168 | $3,193,289,951 |
| High net worth individuals | 19 | $604,775,154 |
| Investment companies | 63 | $104,339,359,072 |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $1,458,182,348 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 39 | $7,955,890 |
| Charitable organizations | 21 | $55,634,444 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $3,225,712 |
| Other investment advisers | 25 | $6,684,889,908 |
| Insurance companies | Fewer than 5 | $763,946,102 |
| Corporations or other businesses not listed above | 87 | $126,616,591 |
| Other | Fewer than 5 | $956,881 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 1971 (54 years)
- Employees: 139 total, 72 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 4 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(1): Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106629

### Websites listed on Form ADV (Item 1.I)
- [franklinindices.com](https://franklinindices.com)
- [franklinresources.com](https://franklinresources.com)
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- [franklintempletonme.com](https://franklintempletonme.com)
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- [ftinstitutional.com](https://ftinstitutional.com)
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- [ftinstitutionalemea.com](https://ftinstitutionalemea.com)
- [myfi.franklintempleton.com](https://myfi.franklintempleton.com)
- [putnam.com](https://putnam.com)
- [putnamwealthmanagement.com](https://putnamwealthmanagement.com)
- Facebook @franklintempleton
- Facebook @putnaminvestments
- Instagram @franklintempleton
- Instagram @putnaminvestments
- LinkedIn @franklin-templeton
- LinkedIn @putnam-investments
- X @fti_us
- X @putnamtoday

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $112,250,309,678 | 302 | July 14, 2021 |
| October 2022 | $115,562,505,380 | 316 | September 27, 2022 |
| October 2023 | $91,178,973,223 | 319 | June 12, 2023 |
| October 2024 | $97,851,190,759 | 330 | September 27, 2024 |
| October 2025 | $85,208,444,537 | 197 | January 10, 2025 |
| October 2026 | $117,238,832,053 | 139 | September 16, 2026 |

Regulatory assets under management: $112,250,309,678 in the October 2021 data and $117,238,832,053 in the October 2026 data, up 4%.
Total employees: 302 in October 2021 and 139 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Updated its list of owners and control persons (Schedule A).

### January 2026
- Employees performing advisory functions went from 51 to 72.
- Regulatory assets under management went from $85,208,444,537 to $117,238,832,053 (+38%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Putnam Investment Management, LLC (CRD 106629): Form ADV filing data as of October 2026.