<PAGE> PAGE 1
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000 C000000 0000081260
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001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
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007 C010600 6
007 C010700 7
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011 A000001 PUTNAM MUTUAL FUNDS CORP.
011 B000001 8-5088
011 C010001 BOSTON
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011 C030001 02109
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012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02109
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
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020 C000001 2168
020 A000002 GOLDMAN SACHS & CO.
020 B000002 13-5108880
020 C000002 1740
020 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000003 13-5674085
020 C000003 1700
020 A000004 SALOMON SMITH BARNEY
020 C000004 1302
020 A000005 EDWARDS (A.G.) & SONS, INC.
020 B000005 43-0895477
020 C000005 1258
020 A000006 MORGAN STANLEY DEAN WITTER
020 C000006 1008
020 A000007 DEUTSCHE BANK SECURITIES, INC.
020 C000007 723
020 A000008 CITICORP
020 C000008 554
020 A000009 AMERICAN EXPRESS FINANCIAL ADV.
020 C000009 536
020 A000010 SANFORD C. BERNSTEIN & CO.
020 B000010 13-2625874
020 C000010 525
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022 A000001 LEHMAN BROTHERS INC.
022 B000001 13-2518466
022 C000001 3268884
022 D000001 120382
022 A000002 GOLDMAN SACHS & CO.
022 B000002 13-5108880
022 C000002 1897013
022 D000002 375866
022 A000003 MORGAN STANLEY DEAN WITTER
022 C000003 294723
022 D000003 823747
022 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000004 13-5674085
022 C000004 675367
022 D000004 174430
<PAGE> PAGE 3
022 A000005 SALOMON SMITH BARNEY
022 C000005 607090
022 D000005 136478
022 A000006 CREDIT SUISSE FIRST BOSTON
022 C000006 608182
022 D000006 72853
022 A000007 WARBURG DILLON READ
022 C000007 514520
022 D000007 28665
022 A000008 MORGAN (J.P.) SECURITIES, INC.
022 B000008 13-3224016
022 C000008 266494
022 D000008 86539
022 A000009 DIRECT ASSOCIATES CORP. OF N.A.K
022 C000009 317945
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<PAGE> PAGE 4
028 C040000 859749
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<PAGE> PAGE 5
048 B010000 500000
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 L010000 Y
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<PAGE> PAGE 8
073 A010000 0.2200
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<PAGE> PAGE 9
085 B000000 N
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SIGNATURE PAUL BUCUVALAS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The Putnam Fund for Growth and Income
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 31,583,196,642
<INVESTMENTS-AT-VALUE> 41,289,196,760
<RECEIVABLES> 863,074,940
<ASSETS-OTHER> 20,439,803
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 42,172,711,503
<PAYABLE-FOR-SECURITIES> 696,966,129
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 142,395,983
<TOTAL-LIABILITIES> 839,362,112
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,206,988,990
<SHARES-COMMON-STOCK> 1,020,951,445
<SHARES-COMMON-PRIOR> 920,343,935
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (160,156,748)
<ACCUMULATED-NET-GAINS> 1,580,517,031
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,706,000,118
<NET-ASSETS> 41,333,349,391
<DIVIDEND-INCOME> 376,303,462
<INTEREST-INCOME> 12,506,168
<OTHER-INCOME> 0
<EXPENSES-NET> 210,337,775
<NET-INVESTMENT-INCOME> 178,471,855
<REALIZED-GAINS-CURRENT> 1,697,326,207
<APPREC-INCREASE-CURRENT> 4,658,156,193
<NET-CHANGE-FROM-OPS> 6,533,954,255
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (213,901,352)
<DISTRIBUTIONS-OF-GAINS> (1,412,774,324)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 144,859,867
<NUMBER-OF-SHARES-REDEEMED> (119,066,219)
<SHARES-REINVESTED> 74,813,862
<NET-CHANGE-IN-ASSETS> 5,585,544,492
<ACCUMULATED-NII-PRIOR> 883,659
<ACCUMULATED-GAINS-PRIOR> 2,526,703,714
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 76,664,132
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 213,377,187
<AVERAGE-NET-ASSETS> 20,851,967,027
<PER-SHARE-NAV-BEGIN> 20.44
<PER-SHARE-NII> .13
<PER-SHARE-GAIN-APPREC> 3.51
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (1.51)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.35
<EXPENSE-RATIO> .40
[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>
The Putnam Fund for Growth and Income
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 31,583,196,642
<INVESTMENTS-AT-VALUE> 41,289,196,760
<RECEIVABLES> 863,074,940
<ASSETS-OTHER> 20,439,803
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 42,172,711,503
<PAYABLE-FOR-SECURITIES> 696,966,129
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 142,395,983
<TOTAL-LIABILITIES> 839,362,112
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,206,988,990
<SHARES-COMMON-STOCK> 763,612,274
<SHARES-COMMON-PRIOR> 776,012,344
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (160,156,748)
<ACCUMULATED-NET-GAINS> 1,580,517,031
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,706,000,118
<NET-ASSETS> 41,333,349,391
<DIVIDEND-INCOME> 376,303,462
<INTEREST-INCOME> 12,506,168
<OTHER-INCOME> 0
<EXPENSES-NET> 210,337,775
<NET-INVESTMENT-INCOME> 178,471,855
<REALIZED-GAINS-CURRENT> 1,697,326,207
<APPREC-INCREASE-CURRENT> 4,658,156,193
<NET-CHANGE-FROM-OPS> 6,533,954,255
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (110,859,867)
<DISTRIBUTIONS-OF-GAINS> (1,138,006,645)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 62,386,866
<NUMBER-OF-SHARES-REDEEMED> (132,494,941)
<SHARES-REINVESTED> 57,708,005
<NET-CHANGE-IN-ASSETS> 5,585,544,492
<ACCUMULATED-NII-PRIOR> 883,659
<ACCUMULATED-GAINS-PRIOR> 2,526,703,714
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 76,664,132
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 213,377,187
<AVERAGE-NET-ASSETS> 16,254,150,542
<PER-SHARE-NAV-BEGIN> 20.19
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 3.47
<PER-SHARE-DIVIDEND> (.14)
<PER-SHARE-DISTRIBUTIONS> (1.51)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.06
<EXPENSE-RATIO> .77
[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>
The Putnam Fund for Growth and Income
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 31,583,196,642
<INVESTMENTS-AT-VALUE> 41,289,196,760
<RECEIVABLES> 863,074,940
<ASSETS-OTHER> 20,439,803
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 42,172,711,503
<PAYABLE-FOR-SECURITIES> 696,966,129
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 142,395,983
<TOTAL-LIABILITIES> 839,362,112
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,206,988,990
<SHARES-COMMON-STOCK> 22,583,215
<SHARES-COMMON-PRIOR> 20,736,791
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (160,156,748)
<ACCUMULATED-NET-GAINS> 1,580,517,031
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,706,000,118
<NET-ASSETS> 41,333,349,391
<DIVIDEND-INCOME> 376,303,462
<INTEREST-INCOME> 12,506,168
<OTHER-INCOME> 0
<EXPENSES-NET> 210,337,775
<NET-INVESTMENT-INCOME> 178,471,855
<REALIZED-GAINS-CURRENT> 1,697,326,207
<APPREC-INCREASE-CURRENT> 4,658,156,193
<NET-CHANGE-FROM-OPS> 6,533,954,255
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,677,969)
<DISTRIBUTIONS-OF-GAINS> (31,447,846)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,790,115
<NUMBER-OF-SHARES-REDEEMED> (2,621,821)
<SHARES-REINVESTED> 1,678,130
<NET-CHANGE-IN-ASSETS> 5,585,544,492
<ACCUMULATED-NII-PRIOR> 883,659
<ACCUMULATED-GAINS-PRIOR> 2,526,703,714
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 76,664,132
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 213,377,187
<AVERAGE-NET-ASSETS> 462,252,006
<PER-SHARE-NAV-BEGIN> 20.33
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> 3.49
<PER-SHARE-DIVIDEND> (.17)
<PER-SHARE-DISTRIBUTIONS> (1.51)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.22
<EXPENSE-RATIO> .65
[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>
The Putnam Fund for Growth and Income
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS Y
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 31,583,196,642
<INVESTMENTS-AT-VALUE> 41,289,196,760
<RECEIVABLES> 863,074,940
<ASSETS-OTHER> 20,439,803
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 42,172,711,503
<PAYABLE-FOR-SECURITIES> 696,966,129
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 142,395,983
<TOTAL-LIABILITIES> 839,362,112
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,206,988,990
<SHARES-COMMON-STOCK> 52,246,175
<SHARES-COMMON-PRIOR> 41,030,253
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (160,156,748)
<ACCUMULATED-NET-GAINS> 1,580,517,031
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,706,000,118
<NET-ASSETS> 41,333,349,391
<DIVIDEND-INCOME> 376,303,462
<INTEREST-INCOME> 12,506,168
<OTHER-INCOME> 0
<EXPENSES-NET> 210,337,775
<NET-INVESTMENT-INCOME> 178,471,855
<REALIZED-GAINS-CURRENT> 1,697,326,207
<APPREC-INCREASE-CURRENT> 4,658,156,193
<NET-CHANGE-FROM-OPS> 6,533,954,255
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,073,074)
<DISTRIBUTIONS-OF-GAINS> (61,284,075)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16,306,146
<NUMBER-OF-SHARES-REDEEMED> (8,644,821)
<SHARES-REINVESTED> 3,554,597
<NET-CHANGE-IN-ASSETS> 5,585,544,492
<ACCUMULATED-NII-PRIOR> 883,659
<ACCUMULATED-GAINS-PRIOR> 2,526,703,714
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 76,664,132
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 213,377,187
<AVERAGE-NET-ASSETS> 981,844,979
<PER-SHARE-NAV-BEGIN> 20.47
<PER-SHARE-NII> .16
<PER-SHARE-GAIN-APPREC> 3.52
<PER-SHARE-DIVIDEND> (.25)
<PER-SHARE-DISTRIBUTIONS> (1.51)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.39
<EXPENSE-RATIO> .27
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
