<PAGE> PAGE 1
000 B000000 04/30/99
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007 C011600 16
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008 B00AA01 A
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008 D02AA01 MA
<PAGE> PAGE 2
008 D03AA01 02109
011 A00AA01 PUTNAM MUTUAL FUNDS CORP
011 B00AA01 8-5088
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
012 A00AA01 PUTNAM INVESTOR SERVICES
012 B00AA01 84-401299
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<PAGE> PAGE 3
022 A000001 ARBURG DILLION READ
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022 A000002 CREDIT SUISSE FIRST BOSTON
022 C000002 255266
022 D000002 2327
022 A000003 GOLDMAN SACHS & CO
022 B000003 13-5108880
022 C000003 203331
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022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004 178100
022 D000004 1051
022 A000005 MORGAN (J.P.) SECURITIES INC.
022 B000005 13-3224016
022 C000005 60704
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022 A000006 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000006 13-5674085
022 C000006 48830
022 D000006 7045
022 A000007 SALOMON SMITH BARNEY
022 C000007 39615
022 D000007 11881
022 A000008 HERZOG, HEINE, GEDULD
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022 A000009 MORGAN STANELY INC.
022 B000009 13-2655998
022 C000009 19844
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027 000000 Y
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<PAGE> PAGE 4
078 000000 Y
086 A010000 0
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086 C010000 0
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<PAGE> PAGE 5
029 001100 N
030 A001100 0
030 B001100 0.00
030 C001100 0.00
031 A001100 0
031 B001100 0
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034 001100 N
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039 001100 N
040 001100 Y
041 001100 Y
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042 B001100 0
042 C001100 0
042 D001100 0
042 E001100 0
042 F001100 0
042 G001100 0
042 H001100 0
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045 001100 Y
046 001100 N
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048 I021100 0.000
048 J011100 0
048 J021100 0.000
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<PAGE> PAGE 6
048 K021100 0.530
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 Y
053 B001100 Y
054 A001100 Y
054 B001100 Y
054 C001100 Y
054 D001100 N
054 E001100 N
054 F001100 N
054 G001100 N
054 H001100 N
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 Y
054 M001100 Y
054 N001100 N
054 O001100 Y
055 A001100 N
055 B001100 N
056 001100 N
057 001100 N
058 A001100 N
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<PAGE> PAGE 7
066 A001100 Y
066 C001100 Y
067 001100 N
068 A001100 N
068 B001100 Y
069 001100 N
070 A011100 Y
070 A021100 Y
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 N
070 L011100 Y
070 L021100 Y
070 M011100 Y
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 4714
071 B001100 4288
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071 D001100 150
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<PAGE> PAGE 8
072 F001100 12
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<PAGE> PAGE 9
074 R031100 0
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076 001100 0.00
080 A001100 FEDERAL INSURANCE COMPANY
080 B001100 NATIONAL UNION FIRE INSURANCE COMPANY
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<PAGE> PAGE 10
028 D041200 3875
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<PAGE> PAGE 11
048 D011200 5000000
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054 F001200 N
054 G001200 N
054 H001200 N
054 I001200 N
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057 001200 N
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<PAGE> PAGE 12
062 E001200 0.0
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<PAGE> PAGE 13
070 O021200 N
070 P011200 N
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070 Q021200 N
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<PAGE> PAGE 14
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074 V011200 8.07
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076 001200 0.00
080 A001200 FEDERAL INSURANCE CO
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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 Opportunities Fund
</LEGEN D>
<SERIES>
<NUMBER> 3
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 138,750,048
<INVESTMENTS-AT-VALUE> 148,042,152
<RECEIVABLES> 10,771,730
<ASSETS-OTHER> 588
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 158,814,470
<PAYABLE-FOR-SECURITIES> 6,133,974
<SENIOR-LONG-TERM-DEBT> 0
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<SENIOR-EQUITY> 0
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<OVERDISTRIBUTION-GAINS> (2,652,947)
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<NET-INVESTMENT-INCOME> (94,357)
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (158,202)
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<ACCUMULATED-NII-PRIOR> 0
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<INTEREST-EXPENSE> 0
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<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> (0.43)
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<RETURNS-OF-CAPITAL> (0.03)
<PER-SHARE-NAV-END> 8.07
<EXPENSE-RATIO> 1.15
[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 Opportunities Fund
</LEGEN D>
<SERIES>
<NUMBER> 3
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 138,750,048
<INVESTMENTS-AT-VALUE> 148,042,152
<RECEIVABLES> 10,771,730
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 145,445,472
<SHARES-COMMON-STOCK> 10,551,473
<SHARES-COMMON-PRIOR> 0
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,652,947)
<ACCUM-APPREC-OR-DEPREC> 9,292,104
<NET-ASSETS> 152,084,926
<DIVIDEND-INCOME> 828,200
<INTEREST-INCOME> 328,969
<OTHER-INCOME> 0
<EXPENSES-NET> 1,251,526
<NET-INVESTMENT-INCOME> (94,357)
<REALIZED-GAINS-CURRENT> (2,712,512)
<APPREC-INCREASE-CURRENT> 9,292,104
<NET-CHANGE-FROM-OPS> 6,485,235
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<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (87,810)
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<NUMBER-OF-SHARES-REDEEMED> (2,659,823)
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<NET-CHANGE-IN-ASSETS> 150,084,629
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 470,510
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,321,616
<AVERAGE-NET-ASSETS> 51,665,214
<PER-SHARE-NAV-BEGIN> 8.40
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> (0.34)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.01)
<PER-SHARE-NAV-END> 8.03
<EXPENSE-RATIO> 1.69
[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 Opportunities Fund
</LEGEN D>
<SERIES>
<NUMBER> 3
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 138,750,048
<INVESTMENTS-AT-VALUE> 148,042,152
<RECEIVABLES> 10,771,730
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<OTHER-ITEMS-LIABILITIES> 595,867
<TOTAL-LIABILITIES> 6,729,841
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 145,445,472
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<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,652,947)
<ACCUM-APPREC-OR-DEPREC> 9,292,104
<NET-ASSETS> 152,084,926
<DIVIDEND-INCOME> 828,200
<INTEREST-INCOME> 328,969
<OTHER-INCOME> 0
<EXPENSES-NET> 1,251,526
<NET-INVESTMENT-INCOME> (94,357)
<REALIZED-GAINS-CURRENT> (2,712,512)
<APPREC-INCREASE-CURRENT> 9,292,104
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<PER-SHARE-NAV-BEGIN> 8.40
<PER-SHARE-NII> (0.01)
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[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 Global Equity Fund
</LEGEND>
<SERIES>
<NUMBER> 1
<S> <C>
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<NET-INVESTMENT-INCOME> (9,687)
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<NUMBER-OF-SHARES-SOLD> 53,326
<NUMBER-OF-SHARES-REDEEMED> 8,986
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<NET-CHANGE-IN-ASSETS> 2,052,917
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<OVERDIST-NET-GAINS-PRIOR> (257,891)
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<AVERAGE-NET-ASSETS> 2,953,314
<PER-SHARE-NAV-BEGIN> 7.87
<PER-SHARE-NII> (.04)
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<PER-SHARE-NAV-END> 13.68
<EXPENSE-RATIO> .72
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
