# The Putnam Advisory Company, LLC

> The Putnam Advisory Company, LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 1968, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 16, 2026.

- CRD: 106631
- Filed as: THE PUTNAM ADVISORY COMPANY, LLC
- Also doing business as: 37 CAPITAL, PUTNAM CAPITAL PARTNERS, PUTNAM GLOBAL INSTITUTIONAL MANAGEMENT, PUTNAM INSTITUTIONAL MANAGEMENT, PUTNAM INVESTMENT MANAGEMENT, PUTNAM INVESTMENTS, PUTNAM MANAGEMENT
- 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/106631
- AdvisorCensus page: https://advisorcensus.com/firm/the-putnam-advisory-company-llc-boston-ma-106631

## Quick answers

**How is The Putnam Advisory Company, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), The Putnam Advisory Company, 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 The Putnam Advisory Company, LLC located?**
The Putnam Advisory Company, LLC's principal office is in Boston, MA, according to its Form ADV; the January 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is The Putnam Advisory Company, LLC registered with the SEC or a state?**
The Putnam Advisory Company, LLC is an SEC-registered investment advisory firm, registered since 1968. Status as filed: Approved. CRD 106631.

**How much does The Putnam Advisory Company, LLC manage?**
The Putnam Advisory Company, LLC reports $33,189,776,888 in regulatory assets under management in its Form ADV filing dated September 16, 2026 (100% discretionary).

**How have The Putnam Advisory Company, LLC's assets and staff changed since 2021?**
In the Form ADV data for The Putnam Advisory Company, LLC: Regulatory assets under management: $88,790,857,242 in the October 2021 data and $33,189,776,888 in the October 2026 data, down 63%. Total employees: 37 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does The Putnam Advisory Company, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (72); pension and profit sharing plans (but not the plan participants or government pension plans) (8); investment companies (6).

**Which custodians does The Putnam Advisory Company, LLC use?**
The Putnam Advisory Company, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Management Trust Company and State Street Bank and Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does The Putnam Advisory Company, LLC report any disciplinary disclosures?**
Reports 5 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), 11.D(2) (another regulator's finding of a violation), and 11.D(4) (another regulator's order in the past ten years). 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/106631

**What changed in The Putnam Advisory Company, 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))
- Fidelity Management Trust Company
- State Street Bank and Trust Company

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: $33,189,776,888
- Discretionary: $33,189,776,888
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 5 | $201,744,801 |
| Investment companies | 6 | $2,501,340,308 |
| Pooled investment vehicles (other than investment companies and business development companies) | 72 | $24,033,909,591 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 8 | $5,568,380,785 |
| Charitable organizations | Fewer than 5 | $142,663,164 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $34,862,718 |
| Insurance companies | Fewer than 5 | $706,875,521 |

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

### Firm details
- Registered since: 1968 (57 years)
- Employees: 7 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, LA, MA, NE, NH, TX, WA
- Disclosures (Item 11): Reports 5 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 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?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related 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/106631

### Other offices (Schedule D, Section 1.F), as of the January 2026 filing
- Singapore

### Websites listed on Form ADV (Item 1.I)
- [franklinindices.com](https://franklinindices.com)
- [franklinresources.com](https://franklinresources.com)
- [franklintempleton.com](https://franklintempleton.com)
- [franklintempletonglobal.com](https://franklintempletonglobal.com)
- [franklintempletonme.com](https://franklintempletonme.com)
- [franklintempletonoffshore.com](https://franklintempletonoffshore.com)
- [ftinstitutional.com](https://ftinstitutional.com)
- [ftinstitutionalapac.com](https://ftinstitutionalapac.com)
- [ftinstitutionalemea.com](https://ftinstitutionalemea.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 | $88,790,857,242 | 37 | July 14, 2021 |
| October 2022 | $80,614,699,197 | 37 | September 27, 2022 |
| October 2023 | $63,843,749,404 | 40 | October 4, 2023 |
| October 2024 | $65,643,931,214 | 7 | September 5, 2024 |
| October 2025 | $41,473,864,610 | 7 | January 2, 2025 |
| October 2026 | $33,189,776,888 | 7 | September 16, 2026 |

Regulatory assets under management: $88,790,857,242 in the October 2021 data and $33,189,776,888 in the October 2026 data, down 63%.
Total employees: 37 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

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

### September 2026
- No longer lists an office in Singapore.

### January 2026
- Employees performing advisory functions went from 6 to 7.
- Regulatory assets under management went from $41,473,864,610 to $33,189,776,888 (-20%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. The Putnam Advisory Company, LLC (CRD 106631): Form ADV filing data as of October 2026.