N-Q 1 a_putnamfundgrowthinc.htm THE PUTNAM FUND FOR GROWTH AND INCOME a_putnamfundgrowthinc.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY




Investment Company Act file number: (811- 00781)
Exact name of registrant as specified in charter: The Putnam Fund for Growth and Income
Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109
Name and address of agent for service: Robert T. Burns, Vice President
One Post Office Square
Boston, Massachusetts 02109
Copy to:         Bryan Chegwidden, Esq.
Ropes & Gray LLP
1211 Avenue of the Americas
New York, New York 10036
Registrant's telephone number, including area code: (617) 292-1000
Date of fiscal year end: October 31, 2016
Date of reporting period: July 31, 2016



Item 1. Schedule of Investments:














The Putnam Fund for Growth and Income

The fund's portfolio
7/31/16 (Unaudited)
COMMON STOCKS (97.8%)(a)
Shares Value

Aerospace and defense (6.4%)
Airbus Group SE (France) 375,283 $22,081,789
Embraer SA ADR (Brazil) 311,000 5,681,970
General Dynamics Corp. 330,200 48,503,078
Honeywell International, Inc. 384,900 44,775,417
L-3 Communications Holdings, Inc. 276,800 41,971,184
Northrop Grumman Corp. 327,200 70,881,336
Raytheon Co. 230,500 32,161,665
Rockwell Collins, Inc. 128,500 10,873,670
United Technologies Corp. 283,000 30,464,950

307,395,059
Air freight and logistics (0.6%)
United Parcel Service, Inc. Class B 259,600 28,062,760

28,062,760
Airlines (0.5%)
American Airlines Group, Inc. 595,400 21,136,700

21,136,700
Auto components (0.4%)
Johnson Controls, Inc. 394,500 18,115,440

18,115,440
Automobiles (0.1%)
General Motors Co. 218,400 6,888,336

6,888,336
Banks (11.3%)
Bank of America Corp. 7,681,494 111,304,848
Citigroup, Inc. 2,380,680 104,297,591
JPMorgan Chase & Co. 2,756,746 176,349,042
PacWest Bancorp 185,500 7,670,425
Regions Financial Corp. 2,362,900 21,667,793
Wells Fargo & Co. 2,526,779 121,209,589

542,499,288
Beverages (1.9%)
Molson Coors Brewing Co. Class B 279,400 28,543,504
PepsiCo, Inc. 595,500 64,861,860

93,405,364
Biotechnology (0.5%)
Gilead Sciences, Inc. 325,200 25,843,644

25,843,644
Capital markets (4.6%)
AllianceBernstein Holding LP 573,400 13,738,664
Charles Schwab Corp. (The) 1,360,300 38,659,726
E*Trade Financial Corp.(NON) 254,600 6,385,368
Goldman Sachs Group, Inc. (The) 255,993 40,654,248
KKR & Co. LP 2,544,896 36,748,298
Morgan Stanley 1,575,600 45,266,988
State Street Corp. 567,200 37,310,416

218,763,708
Chemicals (3.3%)
Air Products & Chemicals, Inc.(S) 161,400 24,116,388
Axalta Coating Systems, Ltd.(NON) 893,697 25,515,049
Dow Chemical Co. (The) 636,200 34,144,854
E.I. du Pont de Nemours & Co. 468,500 32,406,145
Ingevity Corp.(NON) 367,500 14,064,225
Monsanto Co. 195,000 20,820,150
Symrise AG (Germany) 123,142 8,678,894

159,745,705
Commercial services and supplies (0.7%)
Tyco International PLC 732,142 33,363,711

33,363,711
Communications equipment (1.9%)
Cisco Systems, Inc. 2,967,457 90,596,462

90,596,462
Consumer finance (0.8%)
Capital One Financial Corp. 211,700 14,200,836
Synchrony Financial(NON) 852,400 23,764,912

37,965,748
Containers and packaging (0.5%)
Ball Corp.(S) 344,400 24,338,748

24,338,748
Distributors (0.3%)
LKQ Corp.(NON) 368,600 12,676,154

12,676,154
Diversified consumer services (—%)
ITT Educational Services, Inc.(NON)(S) 616,249 1,392,723

1,392,723
Diversified telecommunication services (1.7%)
AT&T, Inc. 1,571,000 68,008,590
Verizon Communications, Inc. 258,514 14,324,261

82,332,851
Electric utilities (2.4%)
American Electric Power Co., Inc. 225,400 15,620,220
Edison International 249,000 19,267,620
Exelon Corp. 1,510,000 56,292,800
PG&E Corp. 389,100 24,879,054

116,059,694
Energy equipment and services (1.8%)
Baker Hughes, Inc. 370,700 17,730,581
Halliburton Co. 814,900 35,578,534
Schlumberger, Ltd.(S) 425,439 34,256,348

87,565,463
Food and staples retail (1.8%)
CVS Health Corp. 342,200 31,728,784
Kroger Co. (The) 607,400 20,767,006
Wal-Mart Stores, Inc. 130,500 9,522,585
Walgreens Boots Alliance, Inc. 320,100 25,367,925

87,386,300
Food products (2.1%)
JM Smucker Co. (The) 138,900 21,412,824
Kraft Heinz Co. (The) 522,000 45,095,580
Mead Johnson Nutrition Co. 209,600 18,696,320
Mondelez International, Inc. Class A 361,200 15,885,576

101,090,300
Health-care equipment and supplies (3.3%)
Abbott Laboratories 377,700 16,902,075
Baxter International, Inc. 204,300 9,810,486
Becton Dickinson and Co. 201,900 35,534,400
C.R. Bard, Inc. 142,900 31,971,017
Danaher Corp. 237,400 19,333,856
Medtronic PLC 494,431 43,326,989

156,878,823
Health-care providers and services (1.2%)
Cardinal Health, Inc. 196,300 16,410,680
Cigna Corp. 183,300 23,638,368
UnitedHealth Group, Inc. 135,500 19,403,600

59,452,648
Hotels, restaurants, and leisure (1.1%)
Hilton Worldwide Holdings, Inc. 1,452,700 33,688,113
Penn National Gaming, Inc.(NON) 1,277,336 19,185,587

52,873,700
Household durables (0.5%)
PulteGroup, Inc. 651,900 13,807,242
Whirlpool Corp.(S) 49,000 9,425,640

23,232,882
Household products (0.7%)
Colgate-Palmolive Co. 150,644 11,212,433
Procter & Gamble Co. (The) 249,300 21,337,587

32,550,020
Independent power and renewable electricity producers (1.6%)
Calpine Corp.(NON) 2,873,917 39,487,620
NRG Energy, Inc. 2,568,800 35,552,192

75,039,812
Industrial conglomerates (1.3%)
General Electric Co.(S) 1,457,420 45,384,059
Siemens AG (Germany) 152,084 16,513,312

61,897,371
Insurance (4.8%)
American International Group, Inc. 1,545,025 84,111,161
Assured Guaranty, Ltd. 1,160,380 31,086,580
Chubb, Ltd. 230,300 28,847,378
Hartford Financial Services Group, Inc. (The) 1,041,900 41,519,715
MetLife, Inc. 414,487 17,715,174
Prudential PLC (United Kingdom) 1,487,020 26,272,751

229,552,759
Internet and catalog retail (—%)
FabFurnish GmbH (acquired 8/2/13, cost $52) (Private) (Brazil)(F)(RES)(NON) 39 33
Global Fashion Holding SA (acquired 8/2/13, cost $2,567,154) (Private) (Brazil)(F)(RES)(NON) 60,600 436,346
New Bigfoot Other Assets GmbH (acquired 8/2/13, cost $52) (Private) (Brazil)(F)(RES)(NON) 39 33
New Middle East Other Assets GmbH (acquired 8/2/13, cost $21) (Private) (Brazil)(F)(RES)(NON) 16 13

436,425
Internet software and services (1.2%)
Alphabet, Inc. Class C(NON) 72,180 55,491,262

55,491,262
IT Services (1.4%)
Computer Sciences Corp. 822,300 39,330,609
Fidelity National Information Services, Inc. 369,700 29,402,241

68,732,850
Life sciences tools and services (0.3%)
Agilent Technologies, Inc. 289,900 13,947,089

13,947,089
Media (2.6%)
Charter Communications, Inc. Class A(NON) 102,751 24,133,127
Comcast Corp. Class A 585,800 39,395,050
DISH Network Corp. Class A(NON) 318,300 17,003,586
Liberty Global PLC Ser. C (United Kingdom)(NON) 556,900 17,236,055
Time Warner, Inc. 344,100 26,375,265

124,143,083
Metals and mining (0.8%)
BHP Billiton, Ltd. (Australia) 1,454,053 21,569,749
Newmont Mining Corp. 405,800 17,855,200

39,424,949
Multiline retail (0.6%)
Target Corp. 358,200 26,983,206

26,983,206
Oil, gas, and consumable fuels (10.0%)
Anadarko Petroleum Corp. 743,100 40,521,243
Cabot Oil & Gas Corp. 665,100 16,408,017
Chevron Corp. 162,600 16,663,248
Concho Resources, Inc.(NON)(S) 138,600 17,214,120
ConocoPhillips 1,118,200 45,644,924
Diamondback Energy, Inc.(NON) 157,875 13,859,846
Energen Corp. 249,500 11,821,310
EOG Resources, Inc. 286,100 23,374,370
Exxon Mobil Corp. 432,392 38,461,268
Gulfport Energy Corp.(NON) 866,900 25,218,121
Marathon Oil Corp.(S) 1,278,400 17,437,376
Pioneer Natural Resources Co. 233,200 37,911,324
Range Resources Corp. 607,900 24,504,449
Royal Dutch Shell PLC ADR Class A (United Kingdom) 1,772,614 91,803,679
Scorpio Tankers, Inc. 2,954,200 14,061,992
Suncor Energy, Inc. (Canada) 960,352 25,846,719
Total SA ADR (France)(S) 395,299 19,013,882

479,765,888
Paper and forest products (0.3%)
Boise Cascade Co.(NON) 531,200 14,432,704

14,432,704
Personal products (0.8%)
Coty, Inc. Class A 384,983 10,344,493
Edgewell Personal Care Co.(NON) 329,968 27,918,592

38,263,085
Pharmaceuticals (9.9%)
Allergan PLC(NON) 149,700 37,866,615
AstraZeneca PLC ADR (United Kingdom)(S) 1,370,000 46,771,800
Bristol-Myers Squibb Co. 292,800 21,904,368
Eli Lilly & Co. 542,300 44,951,247
Johnson & Johnson 643,100 80,535,413
Merck & Co., Inc. 1,290,391 75,694,336
Perrigo Co. PLC 100,200 9,157,278
Pfizer, Inc. 2,508,534 92,539,819
Sanofi ADR (France)(S) 505,800 21,562,254
Teva Pharmaceutical Industries, Ltd. ADR (Israel) 645,900 34,555,650
Zoetis, Inc. 243,638 12,296,410

477,835,190
Real estate investment trusts (REITs) (1.0%)
American Tower Corp. 141,400 16,369,878
Gaming and Leisure Properties, Inc. 872,508 31,261,962

47,631,840
Road and rail (0.7%)
Union Pacific Corp. 370,700 34,493,635

34,493,635
Semiconductors and semiconductor equipment (1.7%)
Intel Corp. 1,126,500 39,269,790
Lam Research Corp.(S) 170,950 15,346,182
Micron Technology, Inc.(NON) 2,107,700 28,959,798

83,575,770
Software (2.7%)
Microsoft Corp. 1,996,100 113,138,948
Oracle Corp. 386,800 15,874,272

129,013,220
Specialty retail (1.2%)
Advance Auto Parts, Inc. 88,200 14,981,652
Home Depot, Inc. (The) 213,300 29,486,592
Michaels Cos., Inc. (The)(NON) 423,900 11,174,004

55,642,248
Technology hardware, storage, and peripherals (2.4%)
Apple, Inc. 584,400 60,900,324
EMC Corp. 711,300 20,115,564
HP, Inc. 880,900 12,341,409
Samsung Electronics Co., Ltd. (South Korea) 16,885 23,198,692

116,555,989
Thrifts and mortgage finance (0.7%)
Radian Group, Inc. 2,699,655 34,825,550

34,825,550
Tobacco (0.8%)
Philip Morris International, Inc. 374,100 37,507,266

37,507,266
Wireless telecommunication services (0.6%)
Vodafone Group PLC ADR (United Kingdom)(S) 988,222 30,536,059

30,536,059

Total common stocks (cost $4,195,039,674) $4,697,339,481

CONVERTIBLE PREFERRED STOCKS (0.0%)(a)
Shares Value

Global Fashion Group SA zero % cv. pfd. (acquired 7/11/16, cost $309,232) (Brazil)(F)(Private)(RES)(NON) 40,826 $312,658

Total convertible preferred stocks (cost $309,232) $312,658

SHORT-TERM INVESTMENTS (5.8%)(a)
Principal amount/shares Value

Putnam Cash Collateral Pool, LLC 0.62%(d) Shares 158,673,200 $158,673,200
Putnam Short Term Investment Fund 0.44%(AFF) Shares 102,816,059 102,816,059
SSgA Prime Money Market Fund Class N 0.34%(P) Shares 10,850,000 10,850,000
U.S. Treasury Bills 0.270%, 8/18/16 $603,000 602,949
U.S. Treasury Bills 0.202%, 8/11/16 4,182,000 4,181,833
U.S. Treasury Bills 0.260%, 8/4/16 160,000 159,999

Total short-term investments (cost $277,283,950) $277,284,040

TOTAL INVESTMENTS

Total investments (cost $4,472,632,856)(b) $4,974,936,179














FORWARD CURRENCY CONTRACTS at 7/31/16 (aggregate face value $163,214,523) (Unaudited)


Unrealized
Contract Delivery Aggregate appreciation/
Counterparty Currency type date Value face value (depreciation)

Credit Suisse International
British Pound Sell 9/21/16 $101,036,377 $109,992,309 $8,955,932
Euro Sell 9/21/16 21,104,005 21,124,390 20,385
JPMorgan Chase Bank N.A.
Euro Sell 9/21/16 32,063,017 32,097,824 34,807

Total $9,011,124













Key to holding's abbreviations
ADR American Depository Receipts: represents ownership of foreign securities on deposit with a custodian bank
Notes to the fund's portfolio
Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from November 1, 2015 through July 31, 2016 (the reporting period). Within the following notes to the portfolio, references to "ASC 820" represent Accounting Standards Codification 820 Fair Value Measurements and Disclosures, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC and references to "OTC", if any, represent over-the-counter.
(a) Percentages indicated are based on net assets of $4,803,509,363.
(b) The aggregate identified cost on a tax basis is $4,515,974,177, resulting in gross unrealized appreciation and depreciation of $721,642,061 and $262,680,059, respectively, or net unrealized appreciation of $458,962,002.
(NON) This security is non-income-producing.
(RES) This security is restricted with regard to public resale. The total fair value of this security and any other restricted securities (excluding 144A securities), if any, held at the close of the reporting period was $749,083, or less than 0.1% of net assets.
(AFF) Affiliated company. The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with Putnam Short Term Investment Fund, which is under common ownership and control, were as follows:
Name of affiliate Fair value at the beginning of the reporting period Purchase cost Sale proceeds Investment income Fair value at the end of the reporting period

Putnam Short Term Investment Fund* $217,802,220 $518,238,081 $633,224,242 $451,489 $102,816,059
* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management.

(d) Affiliated company. The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The remaining maturities of the securities lending transactions are considered overnight and continuous. The risk of borrower default will be borne by the fund's agent; the fund will bear the risk of loss with respect to the investment of the cash collateral.
The fund received cash collateral of $158,673,200, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. At the close of the reporting period, the value of securities loaned amounted to $155,423,600.
(F) This security is valued by Putnam Management at fair value following procedures approved by the Trustees. Securities may be classified as Level 2 or Level 3 for ASC 820 based on the securities' valuation inputs.
(P) This security was pledged, or purchased with cash that was pledged, to the fund for collateral on certain derivative contracts. The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period.
(R) Real Estate Investment Trust.
(S) This security is on loan, in part or in entirety, at the close of the reporting period.
Unless otherwise noted, the rates quoted in Short-term investments security descriptions represent the weighted average yield to maturity.
Debt obligations are considered secured unless otherwise indicated.
144A after the name of an issuer represents securities exempt from registration under Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
The dates shown on debt obligations are the original maturity dates.
Security valuation: Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee.
Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security.
Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares.
Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60 days or less) and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2.
Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. These securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate.
To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs.
To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.
Forward currency contracts: The fund buys and sells forward currency contracts, which are agreements between two parties to buy and sell currencies at a set price on a future date. These contracts were used to hedge foreign exchange risk.
The U.S. dollar value of forward currency contracts is determined using current forward currency exchange rates supplied by a quotation service. The fair value of the contract will fluctuate with changes in currency exchange rates. The contract is marked to market daily and the change in fair value is recorded as an unrealized gain or loss. The fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed when the contract matures or by delivery of the currency. The fund could be exposed to risk if the value of the currency changes unfavorably, if the counterparties to the contracts are unable to meet the terms of their contracts or if the fund is unable to enter into a closing position.
For the fund's average contract amount on forward currency contracts, see the appropriate table at the end of these footnotes.













ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows:
Level 1: Valuations based on quoted prices for identical securities in active markets.
Level 2: Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
Level 3: Valuations based on inputs that are unobservable and significant to the fair value measurement.
The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period:

Valuation inputs

Investments in securities: Level 1 Level 2 Level 3
Common stocks*:
    Consumer discretionary $321,947,772 $— $436,425
    Consumer staples 390,202,335
    Energy 567,331,351
    Financials 1,111,238,893
    Health care 733,957,394
    Industrials 486,349,236
    Information technology 543,965,553
    Materials 237,942,106
    Telecommunication services 112,868,910
    Utilities 191,099,506
Total common stocks 4,696,903,056 436,425
Convertible preferred stocks 312,658
Short-term investments 113,666,059 163,617,981



Totals by level $4,810,569,115 $163,617,981 $749,083



Valuation inputs

Other financial instruments: Level 1 Level 2 Level 3
Forward currency contracts $— $9,011,124 $—



Totals by level $— $9,011,124 $—


* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation.
During the reporting period, transfers within the fair value hierarchy, if any (other than certain transfers involving non-U.S. equity securities as described in the Security valuation note above), did not represent, in the aggregate, more than 1% of the fund's net assets measured as of the end of the period. Transfers are accounted for using the end of period pricing valuation method.
At the start and close of the reporting period, Level 3 investments in securities represented less than 1% of the fund's net assets and were not considered a significant portion of the fund's portfolio.

Fair Value of Derivative Instruments as of the close of the reporting period
Asset derivatives Liability derivatives

Derivatives not accounted for as hedging instruments under ASC 815 Fair value Fair value
Foreign exchange contracts $9,011,124 $—


Total $9,011,124 $—


The volume of activity for the reporting period for any derivative type that was held at the close of the period is listed below and was based on an average of the holdings of that derivative at the end of each fiscal quarter in the reporting period:
Forward currency contracts (contract amount)$166,700,000
   
  The following table summarizes any derivatives, repurchase agreements and reverse repurchase agreements, at the end of the reporting period, that are subject to an enforceable master netting agreement or similar agreement. For securities lending transactions, if applicable, see note "(d)" above, and for borrowing transactions associated with securities sold short, if applicable, see the "Short sales of securities" note above.
   
      Credit
Suisse International
JPMorgan Chase
Bank N.A.
  Total
             
  Assets:          
  Forward currency contracts#   $8,976,317 $34,807   $9,011,124
             
  Total Assets   $8,976,317 $34,807   $9,011,124
             
  Liabilities:          
  Forward currency contracts#    
             
  Total Liabilities   $— $—   $—
             
  Total Financial and Derivative Net Assets   $8,976,317 $34,807   $9,011,124
  Total collateral received (pledged)##†   $8,976,317 $34,807    
  Net amount   $— $—    
             
 Additional collateral may be required from certain brokers based on individual agreements.
             
# Covered by master netting agreement.
             
## Any over-collateralization of total financial and derivative net assets is not shown. Collateral may include amounts related to unsettled agreements.

For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com



Item 2. Controls and Procedures:
(a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

(b) Changes in internal control over financial reporting: Not applicable
Item 3. Exhibits:
Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

The Putnam Fund for Growth and Income
By (Signature and Title):
/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: September 29, 2016

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title):
/s/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: September 29, 2016

By (Signature and Title):
/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: September 29, 2016