<PAGE> PAGE 1
000 A000000 01/31/97
000 C000000 0000081279
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PUTNAM VISTA FUND
001 B000000 811-1561
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 PUTNAM INVESTMENT MANAGEMENT INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS CORP.
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 PRICE WATERHOUSE LLP
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02110
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 98
019 C000000 PUTNAMFUND
020 A000001 PAINEWEBBER INC.
020 B000001 13-2638166
020 C000001 293
020 A000002 SALOMON BROTHERS INC.
020 B000002 13-3082694
020 C000002 213
020 A000003 BEAR STEARNS & CO.
020 B000003 13-4946705
020 C000003 173
020 A000004 FIRST BOSTON CO.
020 B000004 13-5659485
020 C000004 159
020 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC
020 B000005 13-5674085
020 C000005 106
020 A000006 MORGAN (J.P.) SECURITIES INC.
020 B000006 13-3224016
020 C000006 81
020 A000007 BRIDGE TRADING CO.
020 B000007 43-1034850
020 C000007 76
020 A000008 LEHMAN BROTHERS
020 B000008 13-2518466
020 C000008 71
020 A000009 NATWEST SECURITIES
020 B000009 13-3255839
020 C000009 68
020 A000010 FIRST OF MICHIGAN CORP.
020 B000010 38-0540750
020 C000010 56
021 000000 2261
022 A000001 LEHMAN BROTHERS
022 B000001 13-2518466
022 C000001 4873664
022 D000001 106486
022 A000002 GOLDMAN SACHS & CO.
022 B000002 13-5108880
022 C000002 212764
022 D000002 139136
022 A000003 MORGAN (J.P.) SECURITIES INC.
<PAGE> PAGE 3
022 B000003 13-3224016
022 C000003 256956
022 D000003 79772
022 A000004 UBS SECURITIES
022 B000004 13-2932996
022 C000004 140353
022 D000004 3555
022 A000005 FIRST BOSTON CO.
022 B000005 13-5659485
022 C000005 115358
022 D000005 2507
022 A000006 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000006 13-5674085
022 C000006 86382
022 D000006 10830
022 A000007 SALOMON BROTHERS INC.
022 B000007 13-3082694
022 C000007 55391
022 D000007 18794
022 A000008 SMITH, BARNEY, HARRIS, UPHAM & CO.
022 B000008 13-1912900
022 C000008 50145
022 D000008 23255
022 A000009 MORGAN STANLEY INC.
022 B000009 13-2655998
022 C000009 38194
022 D000009 33537
022 A000010 BROWN (ALEX) & SONS, INC.
022 B000010 52-0256630
022 C000010 33987
022 D000010 30069
023 C000000 6189018
023 D000000 610679
024 000000 N
025 A000001 DELETE
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
<PAGE> PAGE 4
026 H000000 N
027 000000 Y
028 A010000 146862
028 A020000 16
028 A030000 0
028 A040000 55783
028 B010000 158067
028 B020000 1
028 B030000 0
028 B040000 64420
028 C010000 230404
028 C020000 0
028 C030000 0
028 C040000 82137
028 D010000 305335
028 D020000 0
028 D030000 0
028 D040000 81551
028 E010000 186425
028 E020000 150519
028 E030000 0
028 E040000 106962
028 F010000 399608
028 F020000 63
028 F030000 0
028 F040000 142452
028 G010000 1426701
028 G020000 150599
028 G030000 0
028 G040000 533305
028 H000000 1426701
029 000000 Y
030 A000000 7762
030 B000000 5.75
030 C000000 3.50
031 A000000 1274
031 B000000 0
032 000000 6489
033 000000 0
034 000000 Y
035 000000 396
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
<PAGE> PAGE 5
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 5555
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.650
048 B010000 500000
048 B020000 0.550
048 C010000 500000
048 C020000 0.500
048 D010000 5000000
048 D020000 0.450
048 E010000 5000000
048 E020000 0.425
048 F010000 5000000
048 F020000 0.405
048 G010000 5000000
048 G020000 0.390
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 21500000
048 K020000 0.380
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
<PAGE> PAGE 6
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
<PAGE> PAGE 7
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 1748255
071 B000000 1036815
071 C000000 2298558
071 D000000 61
072 A000000 6
072 B000000 3020
072 C000000 5076
072 D000000 0
072 E000000 0
072 F000000 6358
072 G000000 12
072 H000000 0
072 I000000 2079
072 J000000 -106
072 K000000 370
072 L000000 70
072 M000000 43
072 N000000 331
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 22
072 S000000 17
072 T000000 5556
<PAGE> PAGE 8
072 U000000 0
072 V000000 0
072 W000000 30
072 X000000 14782
072 Y000000 0
072 Z000000 -6686
072AA000000 130383
072BB000000 0
072CC010000 299695
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 99923
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.6700
073 C000000 0.0000
074 A000000 3902
074 B000000 47360
074 C000000 168600
074 D000000 0
074 E000000 0
074 F000000 2851926
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 42202
074 K000000 0
074 L000000 30079
074 M000000 25
074 N000000 3144094
074 O000000 32800
074 P000000 5317
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 5329
074 S000000 0
074 T000000 3100648
074 U010000 176546
074 U020000 83186
074 V010000 11.07
074 V020000 10.73
074 W000000 0.0000
074 X000000 171853
074 Y000000 0
075 A000000 0
075 B000000 2409391
076 000000 0.00
077 A000000 N
<PAGE> PAGE 9
080 A000000 FEDERAL INSURANCE COMPANY
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000 50000
081 A000000 Y
081 B000000 97
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE PAUL BUCUVALAS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Financial Data Schedule for Putnam Vista Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 2,506,545,747
<INVESTMENTS-AT-VALUE> 3,067,886,643
<RECEIVABLES> 72,280,224
<ASSETS-OTHER> 3,901,953
<OTHER-ITEMS-ASSETS> 25,333
<TOTAL-ASSETS> 3,114,094,153
<PAYABLE-FOR-SECURITIES> 32,799,831
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,646,551
<TOTAL-LIABILITIES> 43,446,382
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,457,230,036
<SHARES-COMMON-STOCK> 176,546,400
<SHARES-COMMON-PRIOR> 93,115,302
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6,686,394)
<ACCUMULATED-NET-GAINS> 88,763,233
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 561,340,896
<NET-ASSETS> 3,100,647,771
<DIVIDEND-INCOME> 5,075,642
<INTEREST-INCOME> 3,019,957
<OTHER-INCOME> 0
<EXPENSES-NET> 14,781,993
<NET-INVESTMENT-INCOME> (6,686,394)
<REALIZED-GAINS-CURRENT> 130,383,093
<APPREC-INCREASE-CURRENT> 299,695,384
<NET-CHANGE-FROM-OPS> 423,392,083
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (99,923,321)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 76,301,822
<NUMBER-OF-SHARES-REDEEMED> (33,473,084)
<SHARES-REINVESTED> 9,085,632
<NET-CHANGE-IN-ASSETS> 1,306,360,820
<ACCUMULATED-NII-PRIOR> 914,647
<ACCUMULATED-GAINS-PRIOR> 42,216,172
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,357,852
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 15,186,778
<AVERAGE-NET-ASSETS> 1,562,768,416
<PER-SHARE-NAV-BEGIN> 9.79
<PER-SHARE-NII> (.02)
<PER-SHARE-GAIN-APPREC> 1.97
<PER-SHARE-DIVIDEND> (.67)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.07
<EXPENSE-RATIO> .52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Financial Data Schedule for Putnam Vista Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 2,506,545,747
<INVESTMENTS-AT-VALUE> 3,067,886,643
<RECEIVABLES> 72,280,224
<ASSETS-OTHER> 3,901,953
<OTHER-ITEMS-ASSETS> 25,333
<TOTAL-ASSETS> 3,114,094,153
<PAYABLE-FOR-SECURITIES> 32,799,831
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,646,551
<TOTAL-LIABILITIES> 43,446,382
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,457,230,036
<SHARES-COMMON-STOCK> 83,185,548
<SHARES-COMMON-PRIOR> 28,474,285
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6,686,394)
<ACCUMULATED-NET-GAINS> 88,763,233
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 561,340,896
<NET-ASSETS> 3,100,647,771
<DIVIDEND-INCOME> 5,075,642
<INTEREST-INCOME> 3,019,957
<OTHER-INCOME> 0
<EXPENSES-NET> 14,781,993
<NET-INVESTMENT-INCOME> (6,686,394)
<REALIZED-GAINS-CURRENT> 130,383,093
<APPREC-INCREASE-CURRENT> 299,695,384
<NET-CHANGE-FROM-OPS> 423,392,083
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (47,493,911)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 34,629,201
<NUMBER-OF-SHARES-REDEEMED> (6,971,200)
<SHARES-REINVESTED> 4,398,892
<NET-CHANGE-IN-ASSETS> 1,306,360,820
<ACCUMULATED-NII-PRIOR> 914,647
<ACCUMULATED-GAINS-PRIOR> 42,216,172
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,357,852
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 15,186,778
<AVERAGE-NET-ASSETS> 685,003,425
<PER-SHARE-NAV-BEGIN> 9.55
<PER-SHARE-NII> (.05)
<PER-SHARE-GAIN-APPREC> 1.90
<PER-SHARE-DIVIDEND> (.67)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.73
<EXPENSE-RATIO> .90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Financial Data Schedule for Putnam Vista Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 2,506,545,747
<INVESTMENTS-AT-VALUE> 3,067,886,643
<RECEIVABLES> 72,280,224
<ASSETS-OTHER> 3,901,953
<OTHER-ITEMS-ASSETS> 25,333
<TOTAL-ASSETS> 3,114,094,153
<PAYABLE-FOR-SECURITIES> 32,799,831
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,646,551
<TOTAL-LIABILITIES> 43,446,382
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,457,230,036
<SHARES-COMMON-STOCK> 5,420,424
<SHARES-COMMON-PRIOR> 342,605
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6,686,394)
<ACCUMULATED-NET-GAINS> 88,763,233
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 561,340,896
<NET-ASSETS> 3,100,647,771
<DIVIDEND-INCOME> 5,075,642
<INTEREST-INCOME> 3,019,957
<OTHER-INCOME> 0
<EXPENSES-NET> 14,781,993
<NET-INVESTMENT-INCOME> (6,686,394)
<REALIZED-GAINS-CURRENT> 130,383,093
<APPREC-INCREASE-CURRENT> 299,695,384
<NET-CHANGE-FROM-OPS> 423,392,083
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (2,889,560)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,094,410
<NUMBER-OF-SHARES-REDEEMED> (1,234,099)
<SHARES-REINVESTED> 271,721
<NET-CHANGE-IN-ASSETS> 1,306,360,820
<ACCUMULATED-NII-PRIOR> 914,647
<ACCUMULATED-GAINS-PRIOR> 42,216,172
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,357,852
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 15,186,778
<AVERAGE-NET-ASSETS> 38,680,620
<PER-SHARE-NAV-BEGIN> 9.72
<PER-SHARE-NII> (.05)
<PER-SHARE-GAIN-APPREC> 1.95
<PER-SHARE-DIVIDEND> (.67)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.95
<EXPENSE-RATIO> .77
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Financial Data Schedule for Putnam Vista Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS Y
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 2,506,545,747
<INVESTMENTS-AT-VALUE> 3,067,886,643
<RECEIVABLES> 72,280,224
<ASSETS-OTHER> 3,901,953
<OTHER-ITEMS-ASSETS> 25,333
<TOTAL-ASSETS> 3,114,094,153
<PAYABLE-FOR-SECURITIES> 32,799,831
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,646,551
<TOTAL-LIABILITIES> 43,446,382
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,457,230,036
<SHARES-COMMON-STOCK> 17,370,332
<SHARES-COMMON-PRIOR> 4,621,592
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6,686,394)
<ACCUMULATED-NET-GAINS> 88,763,233
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 561,340,896
<NET-ASSETS> 3,100,647,771
<DIVIDEND-INCOME> 5,075,642
<INTEREST-INCOME> 3,019,957
<OTHER-INCOME> 0
<EXPENSES-NET> 14,781,993
<NET-INVESTMENT-INCOME> (6,686,394)
<REALIZED-GAINS-CURRENT> 130,383,093
<APPREC-INCREASE-CURRENT> 299,695,384
<NET-CHANGE-FROM-OPS> 423,392,083
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (10,719,822)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,156,682
<NUMBER-OF-SHARES-REDEEMED> (2,259,591)
<SHARES-REINVESTED> 1,037,765
<NET-CHANGE-IN-ASSETS> 1,306,360,820
<ACCUMULATED-NII-PRIOR> 914,647
<ACCUMULATED-GAINS-PRIOR> 42,216,172
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,357,852
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 15,186,778
<AVERAGE-NET-ASSETS> 122,938,853
<PER-SHARE-NAV-BEGIN> 9.84
<PER-SHARE-NII> (.01)
<PER-SHARE-GAIN-APPREC> 1.99
<PER-SHARE-DIVIDEND> (.67)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.15
<EXPENSE-RATIO> .40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
