Putnam Capital Manager

Putnam Research Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in stocks representing the best ideas of Putnam's global equity research analysts. The portfolio typically consists of large, U.S. companies believed to be worth more than their current stock prices indicate. The fund is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking to capitalize on the expertise of Putnam's research teamA best-ideas fund: The fund represents the stock selections of Putnam's Global Equity Research Group, whose analysts cover more than 1,000 companies.A flexible strategy: The fund can own growth- or value-style stocks, allowing it to seek opportunities regardless of which style is in favor.A rigorous process: The fund's experienced managers use rigorous fundamental investment research to oversee the portfolio and manage risk.

Management team

Lipper ranking ‡ as of 06/30/19

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 14% 15/112
1 yr. 33% 50/154
3 yrs. 10% 14/144
5 yrs. 39% 55/142

Risk Characteristics as of 06/30/19

Alpha (%) 1.09
Beta 0.98
R squared 0.97
Standard deviation (3 yrs.) 11.91

Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

Quick facts as of 06/30/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 149
Turnover (fiscal year end) 76%
Net Assets $46M
Inception Date 10/01/98

Holdings

Top 10 holdings as of 06/30/19

Microsoft Corp 4.60%
Amazon.Com 3.40%
Alphabet 3.07%
Apple 2.80%
Facebook 2.08%
Bank Of America Corp 2.01%
Procter Gamble The 2.00%
Home Depot The 1.81%
Coca-Cola The 1.78%
Citigroup 1.63%
Top 10 holdings, total: 25.18%

Prior top 10 holdings

Top 10 holdings as of 06/30/19
1: Microsoft Corp 4.60%
2: Amazon.Com 3.40%
3: Alphabet 3.07%
4: Apple 2.80%
5: Facebook 2.08%
6: Bank Of America Corp 2.01%
7: Procter Gamble The 2.00%
8: Home Depot The 1.81%
9: Coca-Cola The 1.78%
10: Citigroup 1.63%
Holdings represent 25.18% of portfolio
Top 10 holdings as of 05/31/19
1: Microsoft Corp 4.50%
2: Alphabet 3.38%
3: Amazon.Com 3.38%
4: Apple 2.62%
5: Facebook 2.03%
6: Bank Of America Corp 1.96%
7: Procter Gamble The 1.82%
8: Home Depot The 1.75%
9: Coca-Cola The 1.71%
10: Citigroup 1.50%
Holdings represent 24.65% of portfolio
Top 10 holdings as of 04/30/19
1: Microsoft Corp 4.39%
2: Amazon.Com 3.14%
3: Alphabet 3.01%
4: Apple 2.77%
5: Facebook 2.12%
6: Bank Of America Corp 2.08%
7: Visa 1.85%
8: Home Depot The 1.73%
9: Coca-Cola The 1.58%
10: Citigroup 1.52%
Holdings represent 24.19% of portfolio
Top 10 holdings as of 03/31/19
1: Microsoft Corp 4.03%
2: Alphabet 3.02%
3: Amazon.Com 2.91%
4: Apple 2.66%
5: Bank Of America Corp 2.11%
6: Honeywell International 1.82%
7: Facebook 1.81%
8: Visa 1.75%
9: Coca-Cola The 1.75%
10: Home Depot 1.71%
Holdings represent 23.57% of portfolio

Portfolio Composition as of 06/30/19

Common stock 99.28%
Cash and net other assets 0.54%
Convertible preferred stock 0.18%

Portfolio allocations will vary over time. The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

Top Industry Sectors as of 06/30/19

Information technology 19.44%
Financials 13.49%
Health care 13.41%
Consumer discretionary 11.67%
Communication services 10.60%
Industrials 9.70%
Consumer staples 7.79%
Energy 4.24%
Materials 3.79%
 
Other
5.87%
Utilities 3.75%
Real estate 1.58%
Cash and net other assets 0.54%