‡ 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.
Putnam Capital Manager
Putnam Growth Opportunities Subaccount
The subaccount seeks capital appreciation.
Fund description
The subaccount invests in large U.S. companies with strong revenue and earnings growth prospects. Members of the management team target established companies that are believed to be leaders in their industries with the potential to grow rapidly. The fund's portfolio typically includes world-renowned businesses whose size and scale give them a competitive advantage.
Sales story
Seeking to harness the growth potential of large U.S. companiesSeeks above-average growth: The fund focuses on businesses that exhibit both a high level of growth and an above-average duration of growth.A thematic approach: The portfolio managers combine top-down investment themes with bottom-up research to select securities that can benefit from growth trends.Rigorous analysis: Backed by fundamental research, the managers focus on identifying management teams that act like owners.
Management team
- Richard E. Bodzy (Investing since 2004)
- Gregory D. McCullough, CFA (Investing since 2008)
Lipper ranking ‡ as of 04/30/20
Category: Large-Cap Growth Funds
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 23% | 34/152 |
| 1 yr. | 11% | 20/189 |
| 3 yrs. | 5% | 9/184 |
| 5 yrs. | 15% | 25/176 |
Risk Characteristics as of 04/30/20
| Alpha (%) | 3.01 |
| Beta | 0.94 |
| R squared | 0.98 |
| Standard deviation (3 yrs.) | 16.28 |
Quick facts as of 04/30/20
| Fiscal Year End | December |
| Asset Class | Putnam Capital Manager |
| Subaccount Status | Open to new investors |
| Number of issues | 56 |
| Turnover (fiscal year end) | 40% |
| Net Assets | $871M |
| Inception Date | 02/01/00 |
Holdings
| Microsoft Corp | 10.69% |
| Amazon.Com | 8.25% |
| Apple | 7.93% |
| Alphabet | 4.56% |
| Visa | 3.52% |
| Paypal Holdings | 3.27% |
| UnitedHealth Group | 2.74% |
| Mastercard | 2.55% |
| Adobe | 2.48% |
| Nvidia Corp | 2.31% |
| Top 10 holdings, total: | 48.30% |
| Top 10 holdings as of 04/30/20 | |
|---|---|
| 1: Microsoft Corp | 10.69% |
| 2: Amazon.Com | 8.25% |
| 3: Apple | 7.93% |
| 4: Alphabet | 4.56% |
| 5: Visa | 3.52% |
| 6: Paypal Holdings | 3.27% |
| 7: UnitedHealth Group | 2.74% |
| 8: Mastercard | 2.55% |
| 9: Adobe | 2.48% |
| 10: Nvidia Corp | 2.31% |
| Holdings represent 48.30% of portfolio | |
| Top 10 holdings as of 03/31/20 | |
|---|---|
| 1: Microsoft Corp | 10.61% |
| 2: Apple | 7.74% |
| 3: Amazon.Com | 7.63% |
| 4: Alphabet | 4.44% |
| 5: Visa | 3.58% |
| 6: Paypal Holdings | 2.97% |
| 7: UnitedHealth Group | 2.54% |
| 8: Mastercard | 2.52% |
| 9: Adobe | 2.52% |
| 10: Salesforce.Com | 2.41% |
| Holdings represent 46.96% of portfolio | |
| Top 10 holdings as of 02/29/20 | |
|---|---|
| 1: Microsoft Corp | 9.81% |
| 2: Apple | 7.49% |
| 3: Amazon.Com | 6.54% |
| 4: Alphabet | 4.72% |
| 5: Visa | 3.74% |
| 6: Paypal Holdings | 3.02% |
| 7: Mastercard | 2.80% |
| 8: Salesforce.Com | 2.68% |
| 9: Adobe | 2.46% |
| 10: Danaher Corp | 2.27% |
| Holdings represent 45.53% of portfolio | |
| Top 10 holdings as of 01/31/20 | |
|---|---|
| 1: Microsoft Corp | 9.97% |
| 2: Apple | 8.26% |
| 3: Amazon.Com | 6.26% |
| 4: Alphabet | 4.75% |
| 5: Visa | 3.96% |
| 6: Salesforce.Com | 3.04% |
| 7: Paypal Holdings | 2.99% |
| 8: Mastercard | 2.86% |
| 9: Danaher Corp | 2.48% |
| 10: Adobe | 2.35% |
| Holdings represent 46.92% of portfolio | |
| MICROSOFT CORP SEDOL 2588173 | 10.61% | APPLE INC SEDOL 2046251 | 7.74% | AMAZON.COM INC SEDOL 2000019 | 7.63% | ALPHABET INC-CL C SEDOL BYY88Y7 | 4.44% | VISA INC-CLASS A SHARES SEDOL B2PZN04 | 3.58% | PAYPAL HOLDINGS INC SEDOL BYW36M8 | 2.97% | UNITEDHEALTH GROUP INC SEDOL 2917766 | 2.54% | MASTERCARD INC - A SEDOL B121557 | 2.52% | ADOBE INC SEDOL 2008154 | 2.52% | SALESFORCE.COM INC SEDOL 2310525 | 2.41% | DANAHER CORP SEDOL 2250870 | 2.39% | NVIDIA CORP SEDOL 2379504 | 2.27% | FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 2.22% | COSTAR GROUP INC SEDOL 2262864 | 2.09% | AMERICAN TOWER CORP SEDOL B7FBFL2 | 2.04% | VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 1.96% | CHARTER COMMUNICATIONS INC-A SEDOL BZ6VT82 | 1.86% | NIKE INC -CL B SEDOL 2640147 | 1.79% | IDEXX LABORATORIES INC SEDOL 2459202 | 1.76% | HOME DEPOT INC SEDOL 2434209 | 1.67% | LONZA GROUP AG-REG SEDOL 7333378 | 1.58% | FACEBOOK INC-CLASS A SEDOL B7TL820 | 1.54% | NORTHROP GRUMMAN CORP SEDOL 2648806 | 1.34% | LIVE NATION ENTERTAINMENT IN SEDOL B0T7YX2 | 1.33% | TEXAS INSTRUMENTS INC SEDOL 2885409 | 1.30% | WALMART INC SEDOL 2936921 | 1.30% | DOCUSIGN INC SEDOL BFYT7B7 | 1.26% | WASTE CONNECTIONS INC SEDOL BYVG1F6 | 1.24% | MERCK & CO. INC. SEDOL 2778844 | 1.22% | S&P GLOBAL INC SEDOL BYV2325 | 1.08% | SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 1.05% | SEATTLE GENETICS INC SEDOL 2738127 | 1.03% | EDWARDS LIFESCIENCES CORP SEDOL 2567116 | 1.03% | UNION PACIFIC CORP SEDOL 2914734 | 1.02% | ALIBABA GROUP HOLDING-SP ADR SEDOL BP41ZD1 | 0.99% | RINGCENTRAL INC-CLASS A SEDOL BDZCRX3 | 0.98% | ROPER TECHNOLOGIES INC SEDOL 2749602 | 0.90% | LINDE PLC SEDOL BZ12WP8 | 0.90% | LULULEMON ATHLETICA INC SEDOL B23FN39 | 0.90% | CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 0.88% | DEXCOM INC SEDOL B0796X4 | 0.87% | DASSAULT SYSTEMES SA SEDOL 5330047 | 0.84% | TARGET CORP SEDOL 2259101 | 0.76% | NETFLIX INC SEDOL 2857817 | 0.76% | LONDON STOCK EXCHANGE GROUP SEDOL B0SWJX3 | 0.74% | COOPER COS INC/THE SEDOL 2222631 | 0.73% | ESTEE LAUDER COMPANIES-CL A SEDOL 2320524 | 0.73% | REGENERON PHARMACEUTICALS SEDOL 2730190 | 0.67% | AIA GROUP LTD SEDOL B4TX8S1 | 0.66% | EDENRED SEDOL B62G1B5 | 0.58% | TESLA INC SEDOL B616C79 | 0.48% | INTUITIVE SURGICAL INC SEDOL 2871301 | 0.38% | TRANSDIGM GROUP INC SEDOL B11FJK3 | 0.29% | OPORTUN FINANCIAL CORP SEDOL BKTC5L2 | 0.11% | TREASURY BILL 00.0000 05/21/2020 | 0.02% | HC BRILLANT SERVICES GMBH P/P | 0.00% | NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% | NEW BIGFOOT OTHER ASSETS GMBH P/P | 0.00% | NEW MIDDLE EAST OTHER ASSETS GMBH P/P | 0.00% |
| MICROSOFT CORP SEDOL 2588173 | 9.70% | APPLE INC SEDOL 2046251 | 7.91% | AMAZON.COM INC SEDOL 2000019 | 5.88% | ALPHABET INC-CL C SEDOL BYY88Y7 | 4.60% | VISA INC-CLASS A SHARES SEDOL B2PZN04 | 4.06% | PAYPAL HOLDINGS INC SEDOL BYW36M8 | 3.24% | MASTERCARD INC - A SEDOL B121557 | 2.94% | SALESFORCE.COM INC SEDOL 2310525 | 2.83% | DANAHER CORP SEDOL 2250870 | 2.65% | FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 2.32% | ADOBE INC SEDOL 2008154 | 2.30% | COSTAR GROUP INC SEDOL 2262864 | 2.13% | CHARTER COMMUNICATIONS INC-A SEDOL BZ6VT82 | 2.07% | AMERICAN TOWER CORP SEDOL B7FBFL2 | 2.05% | FACEBOOK INC-CLASS A SEDOL B7TL820 | 1.97% | LIVE NATION ENTERTAINMENT IN SEDOL B0T7YX2 | 1.87% | NVIDIA CORP SEDOL 2379504 | 1.84% | UNITEDHEALTH GROUP INC SEDOL 2917766 | 1.82% | IDEXX LABORATORIES INC SEDOL 2459202 | 1.77% | HOME DEPOT INC SEDOL 2434209 | 1.69% | NIKE INC -CL B SEDOL 2640147 | 1.68% | UNION PACIFIC CORP SEDOL 2914734 | 1.63% | TEXAS INSTRUMENTS INC SEDOL 2885409 | 1.60% | SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 1.45% | NORTHROP GRUMMAN CORP SEDOL 2648806 | 1.43% | INTERCONTINENTAL EXCHANGE IN SEDOL BFSSDS9 | 1.37% | LINDE PLC SEDOL BZ12WP8 | 1.35% | TRANSDIGM GROUP INC SEDOL B11FJK3 | 1.33% | WASTE CONNECTIONS INC SEDOL BYVG1F6 | 1.32% | IQVIA HOLDINGS INC SEDOL BDR73G1 | 1.30% | VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 1.27% | TJX COMPANIES INC SEDOL 2989301 | 1.26% | LONZA GROUP AG-REG SEDOL 7333378 | 1.22% | HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 1.16% | EDWARDS LIFESCIENCES CORP SEDOL 2567116 | 1.10% | ESTEE LAUDER COMPANIES-CL A SEDOL 2320524 | 1.09% | BOOKING HOLDINGS INC SEDOL BDRXDB4 | 1.05% | ROPER TECHNOLOGIES INC SEDOL 2749602 | 1.02% | DASSAULT SYSTEMES SA SEDOL 5330047 | 1.00% | WALMART INC SEDOL 2936921 | 0.99% | LULULEMON ATHLETICA INC SEDOL B23FN39 | 0.96% | BOEING CO/THE SEDOL 2108601 | 0.93% | MERCK & CO. INC. SEDOL 2778844 | 0.90% | DOCUSIGN INC SEDOL BFYT7B7 | 0.78% | AIA GROUP LTD SEDOL B4TX8S1 | 0.63% | PLANET FITNESS INC - CL A SEDOL BYSFJV8 | 0.58% | SEATTLE GENETICS INC SEDOL 2738127 | 0.58% | RINGCENTRAL INC-CLASS A SEDOL BDZCRX3 | 0.57% | MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 | 0.56% | EDENRED SEDOL B62G1B5 | 0.54% | COOPER COS INC/THE SEDOL 2222631 | 0.50% | INTUITIVE SURGICAL INC SEDOL 2871301 | 0.39% | NETFLIX INC SEDOL 2857817 | 0.30% | OPORTUN FIN CORP P/P | 0.21% | QCOM 20200221 C 97.50JPMCB | 0.05% | TREASURY BILL 00.0000 05/21/2020 | 0.02% | GLOBAL FASHION GRP P/P | 0.00% | HC BRILLANT SERVICES GMBH P/P | 0.00% | NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% | NEW BIGFOOT OTHER ASSETS GMBH P/P | 0.00% | NEW MIDDLE EAST OTHER ASSETS GMBH P/P | 0.00% | QCOM 20200221 C 100.00JPMCB | -0.03% |
Portfolio Composition as of 04/30/20
| Common stock | 99.08% |
| Cash and net other assets | 0.92% |
Consider these risks before investing: Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. You can lose money by investing in the fund. 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.
Top Industry Sectors as of 04/30/20
| Information technology | 41.83% |
|---|---|
| Consumer discretionary | 16.25% |
| Health care | 14.63% |
| Communication services | 9.64% |
| Industrials | 6.87% |
| Real estate | 2.91% |
| Financials | 2.86% |
| Consumer staples | 2.16% |
| Materials | 1.93% |
| Other | 0.92% |
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