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<PAGE> PAGE 2
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<PAGE> PAGE 4
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SIGNATURE PAUL BUCUVALAS
TITLE MANAGING DIRECTOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Capital Appreciation Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 2,915,901,457
<INVESTMENTS-AT-VALUE> 3,377,093,111
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<OTHER-ITEMS-LIABILITIES> 12,394,920
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<OVERDISTRIBUTION-GAINS> 0
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<NUMBER-OF-SHARES-REDEEMED> (14,135,542)
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Capital Appreciation Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 2,915,901,457
<INVESTMENTS-AT-VALUE> 3,377,093,111
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<PAYABLE-FOR-SECURITIES> 27,463,991
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<SENIOR-EQUITY> 0
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<EXPENSE-RATIO> 1.78
<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>
Putnam Capital Appreciation Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> MAY-31-1998
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 461,191,654
<NET-ASSETS> 3,373,967,241
<DIVIDEND-INCOME> 29,832,129
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<NET-CHANGE-FROM-OPS> 399,530,741
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<GROSS-ADVISORY-FEES> 11,520,147
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 30,855,909
<AVERAGE-NET-ASSETS> 80,014,075
<PER-SHARE-NAV-BEGIN> 18.62
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<PER-SHARE-NAV-END> 22.91
<EXPENSE-RATIO> 1.53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
