‡ 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 02/28/22
Category: Large-Cap Growth Funds
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 19% | 32/169 |
| 1 yr. | 30% | 57/192 |
| 3 yrs. | 29% | 55/189 |
| 5 yrs. | 19% | 34/184 |
Risk Characteristics as of 02/28/22
| Alpha (%) | -1.04 |
| Beta | 0.95 |
| R squared | 0.98 |
| Standard deviation (3 yrs.) | 18.42 |
Quick facts as of 02/28/22
| Fiscal Year End | December |
| Asset Class | Putnam Capital Manager |
| Subaccount Status | Open to new investors |
| Number of issues | 53 |
| Turnover (fiscal year end) | 47% |
| Net Assets | $1,042M |
| Inception Date | 02/01/00 |
Holdings
| Microsoft Corp | 11.19% |
| Apple | 10.05% |
| Amazon.Com | 7.52% |
| Alphabet | 6.33% |
| Tesla | 3.65% |
| Nvidia Corp | 3.31% |
| Mastercard | 2.96% |
| Visa | 2.61% |
| Adobe | 2.48% |
| Palo Alto Networks | 2.07% |
| Top 10 holdings, total: | 52.17% |
| Top 10 holdings as of 02/28/22 | |
|---|---|
| 1: Microsoft Corp | 11.19% |
| 2: Apple | 10.05% |
| 3: Amazon.Com | 7.52% |
| 4: Alphabet | 6.33% |
| 5: Tesla | 3.65% |
| 6: Nvidia Corp | 3.31% |
| 7: Mastercard | 2.96% |
| 8: Visa | 2.61% |
| 9: Adobe | 2.48% |
| 10: Palo Alto Networks | 2.07% |
| Holdings represent 52.17% of portfolio | |
| Top 10 holdings as of 01/31/22 | |
|---|---|
| 1: Microsoft Corp | 10.97% |
| 2: Apple | 10.03% |
| 3: Amazon.Com | 6.90% |
| 4: Alphabet | 6.00% |
| 5: Tesla | 3.71% |
| 6: Nvidia Corp | 3.43% |
| 7: Mastercard | 2.99% |
| 8: Meta Platforms | 2.99% |
| 9: Adobe | 2.67% |
| 10: Visa | 2.49% |
| Holdings represent 52.18% of portfolio | |
| Top 10 holdings as of 12/31/21 | |
|---|---|
| 1: Microsoft Corp | 10.69% |
| 2: Apple | 9.17% |
| 3: Amazon.Com | 6.93% |
| 4: Alphabet | 5.76% |
| 5: Nvidia Corp | 3.91% |
| 6: Tesla | 3.62% |
| 7: Meta Platforms | 2.96% |
| 8: Mastercard | 2.50% |
| 9: Adobe | 2.28% |
| 10: Accenture | 2.16% |
| Holdings represent 49.98% of portfolio | |
| Top 10 holdings as of 11/30/21 | |
|---|---|
| 1: Microsoft Corp | 10.56% |
| 2: Apple | 8.59% |
| 3: Amazon.Com | 7.32% |
| 4: Alphabet | 5.71% |
| 5: Nvidia Corp | 4.47% |
| 6: Tesla | 3.50% |
| 7: Adobe | 2.95% |
| 8: Meta Platforms | 2.83% |
| 9: Mastercard | 2.16% |
| 10: Intuit | 2.09% |
| Holdings represent 50.18% of portfolio | |
| MICROSOFT CORP SEDOL 2588173 | 11.12% | APPLE INC SEDOL 2046251 | 10.24% | AMAZON.COM INC SEDOL 2000019 | 7.69% | ALPHABET INC-CL C SEDOL BYY88Y7 | 6.32% | TESLA INC SEDOL B616C79 | 4.24% | NVIDIA CORP SEDOL 2379504 | 3.43% | MASTERCARD INC - A SEDOL B121557 | 2.82% | VISA INC-CLASS A SHARES SEDOL B2PZN04 | 2.58% | UNION PACIFIC CORP SEDOL 2914734 | 2.14% | PALO ALTO NETWORKS INC SEDOL B87ZMX0 | 2.09% | ACCENTURE PLC-CL A SEDOL B4BNMY3 | 2.06% | COSTCO WHOLESALE CORP SEDOL 2701271 | 1.85% | ADOBE INC SEDOL 2008154 | 1.84% | INTUIT INC SEDOL 2459020 | 1.83% | UNITEDHEALTH GROUP INC SEDOL 2917766 | 1.73% | DANAHER CORP SEDOL 2250870 | 1.66% | CADENCE DESIGN SYS INC SEDOL 2302232 | 1.60% | JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.55% | HCA HEALTHCARE INC SEDOL B4MGBG6 | 1.53% | DEERE & CO SEDOL 2261203 | 1.47% | META PLATFORMS INC-CLASS A SEDOL B7TL820 | 1.39% | IQVIA HOLDINGS INC SEDOL BDR73G1 | 1.37% | UBER TECHNOLOGIES INC SEDOL BK6N347 | 1.35% | NIKE INC -CL B SEDOL 2640147 | 1.33% | AMERICAN TOWER CORP SEDOL B7FBFL2 | 1.32% | MARVELL TECHNOLOGY INC SEDOL BNKJSM5 | 1.32% | DEXCOM INC SEDOL B0796X4 | 1.28% | HOME DEPOT INC SEDOL 2434209 | 1.27% | SALESFORCE INC SEDOL 2310525 | 1.25% | LULULEMON ATHLETICA INC SEDOL B23FN39 | 1.21% | TJX COMPANIES INC SEDOL 2989301 | 1.19% | REPO TRIPA MORTG 0.3 04/01/2022 | 1.14% | ADVANCED MICRO DEVICES SEDOL 2007849 | 1.14% | O'REILLY AUTOMOTIVE INC SEDOL B65LWX6 | 1.08% | UNIVERSAL MUSIC GROUP NV SEDOL BNZGVV1 | 1.01% | LIVE NATION ENTERTAINMENT IN SEDOL B0T7YX2 | 0.99% | CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 0.96% | ESTEE LAUDER COMPANIES-CL A SEDOL 2320524 | 0.89% | SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 0.86% | SERVICENOW INC SEDOL B80NXX8 | 0.83% | BOOKING HOLDINGS INC SEDOL BDRXDB4 | 0.81% | LONZA GROUP AG-REG SEDOL 7333378 | 0.81% | IDEXX LABORATORIES INC SEDOL 2459202 | 0.80% | INTUITIVE SURGICAL INC SEDOL 2871301 | 0.76% | PAYPAL HOLDINGS INC SEDOL BYW36M8 | 0.66% | WASTE CONNECTIONS INC SEDOL BYVG1F6 | 0.63% | SCHWAB (CHARLES) CORP SEDOL 2779397 | 0.60% | ELI LILLY & CO SEDOL 2516152 | 0.59% | EQUIFAX INC SEDOL 2319146 | 0.58% | AIRBNB INC-CLASS A SEDOL BMGYYH4 | 0.56% | INGERSOLL-RAND INC SEDOL BL5GZ82 | 0.05% |
| MICROSOFT CORP SEDOL 2588173 | 10.69% | APPLE INC SEDOL 2046251 | 9.18% | AMAZON.COM INC SEDOL 2000019 | 6.93% | ALPHABET INC-CL C SEDOL BYY88Y7 | 5.76% | NVIDIA CORP SEDOL 2379504 | 3.91% | TESLA INC SEDOL B616C79 | 3.62% | META PLATFORMS INC-CLASS A SEDOL B7TL820 | 2.96% | MASTERCARD INC - A SEDOL B121557 | 2.50% | ADOBE INC SEDOL 2008154 | 2.28% | ACCENTURE PLC-CL A SEDOL B4BNMY3 | 2.16% | VISA INC-CLASS A SHARES SEDOL B2PZN04 | 2.15% | INTUIT INC SEDOL 2459020 | 2.14% | PAYPAL HOLDINGS INC SEDOL BYW36M8 | 1.95% | CADENCE DESIGN SYS INC SEDOL 2302232 | 1.80% | UNION PACIFIC CORP SEDOL 2914734 | 1.79% | UNITEDHEALTH GROUP INC SEDOL 2917766 | 1.77% | HCA HEALTHCARE INC SEDOL B4MGBG6 | 1.77% | NIKE INC -CL B SEDOL 2640147 | 1.76% | JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.74% | DANAHER CORP SEDOL 2250870 | 1.63% | TJX COMPANIES INC SEDOL 2989301 | 1.61% | UBER TECHNOLOGIES INC SEDOL BK6N347 | 1.56% | PALO ALTO NETWORKS INC SEDOL B87ZMX0 | 1.54% | MARVELL TECHNOLOGY INC SEDOL BNKJSM5 | 1.37% | IQVIA HOLDINGS INC SEDOL BDR73G1 | 1.37% | AMERICAN TOWER CORP SEDOL B7FBFL2 | 1.37% | SALESFORCE.COM INC SEDOL 2310525 | 1.31% | DEERE & CO SEDOL 2261203 | 1.30% | HOME DEPOT INC SEDOL 2434209 | 1.27% | ESTEE LAUDER COMPANIES-CL A SEDOL 2320524 | 1.25% | ADVANCED MICRO DEVICES SEDOL 2007849 | 1.24% | SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 1.14% | O'REILLY AUTOMOTIVE INC SEDOL B65LWX6 | 1.11% | LULULEMON ATHLETICA INC SEDOL B23FN39 | 1.08% | SERVICENOW INC SEDOL B80NXX8 | 0.96% | ELI LILLY & CO SEDOL 2516152 | 0.92% | CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 0.92% | DEXCOM INC SEDOL B0796X4 | 0.91% | IDEXX LABORATORIES INC SEDOL 2459202 | 0.91% | LIVE NATION ENTERTAINMENT IN SEDOL B0T7YX2 | 0.89% | REGENERON PHARMACEUTICALS SEDOL 2730190 | 0.87% | LONZA GROUP AG-REG SEDOL 7333378 | 0.86% | AIRBNB INC-CLASS A SEDOL BMGYYH4 | 0.78% | UNIVERSAL MUSIC GROUP NV SEDOL BNZGVV1 | 0.76% | WALT DISNEY CO/THE SEDOL 2270726 | 0.62% | DOCUSIGN INC SEDOL BFYT7B7 | 0.50% | COSTCO WHOLESALE CORP SEDOL 2701271 | 0.48% | INGERSOLL-RAND INC SEDOL BL5GZ82 | 0.46% | DRAFTKINGS INC - CL A SEDOL BMYML02 | 0.44% | NETFLIX INC SEDOL 2857817 | 0.38% | BLOCK INC SEDOL BYNZGK1 | 0.17% | COSTAR GROUP INC SEDOL 2262864 | 0.15% | HC BRILLANT SERVICES GMBH P/P | 0.00% |
Portfolio Composition as of 02/28/22
| Common stock | 99.37% |
| Cash and net other assets | 0.63% |
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. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. 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 02/28/22
| Information technology | 46.05% |
|---|---|
| Consumer discretionary | 19.46% |
| Health care | 10.47% |
| Communication services | 9.87% |
| Industrials | 8.27% |
| Consumer staples | 2.58% |
| Real estate | 1.19% |
| Materials | 0.94% |
| Cash and net other assets | 0.63% |
| Other | 0.54% |
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