Growth Opportunities Fund (Class A)  (POGAX)

Seeking to harness the growth potential of large U.S. companies

Growth Opportunities Fund received an  Overall Morningstar Rating  of  

Highlights

Objective

The fund seeks capital appreciation.

Strategy and process

  • Seeks above-average growth: The fund invests in large U.S. companies with a competitive edge and strong earnings and cash flows that can lead to better growth potential.
  • 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 portfolio managers seek to take advantage of market opportunities and differentiated views.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $35.84
0.14% | $0.05
$36.45
07/25/18
$28.76
08/17/17
Historical fund price

Fund facts as of 05/31/18

Total net assets
$4,881.75M
Turnover (fiscal year end)
70%
Dividend frequency
Annually
Number of holdings
73
Fiscal year-end
July
CUSIP / Fund code
746802800 / 0048
Inception date
10/02/95
Category
Growth
Open to new investors
Ticker
POGAX

Management team

Portfolio Manager
Co-Director of Equity Research



Performance

  • Total return (%) as of 06/30/18

  • Annual performance as of 06/30/18

Annualized Total return (%) as of 06/30/18

Annualized performance 1 yr. 3 yrs. 5 yrs. 10 yrs.
Before sales charge 24.34% 14.86% 16.65% 12.52%
After sales charge 17.19% 12.61% 15.27% 11.86%
Russell 1000 Growth Index 22.51% 14.98% 16.36% 11.83%

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Multi-Asset Absolute Return Fund, and 4.00% and 3.25% for income funds (2.25% and 0.75% for Putnam Short Duration Bond Fund and 1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.

Performance snapshot

  Before sales charge After sales charge
1 mt. as of 07/31/18 3.05 % -2.87 %
YTD as of 08/17/18 14.50 % 7.92 %

Risk-adjusted performance as of 05/31/18

Alpha (3 yrs.) -1.84
Sharpe ratio (3 yrs.) 1.04
Treynor ratio (3 yrs.) 11.69
Information ratio (3 yrs.) -0.25

Volatility as of 05/31/18

Standard deviation (3 yrs.) 12.26%
Beta 1.09
R-squared 0.96

Capture ratio as of 05/31/18

Up-market (3 yrs.) 105.08
Down-market (3 yrs.) 118.01

Lipper rankings as of 05/31/18

Time period Rank/Funds in category Percentile ranking
1 yr. 313/696 45%
3 yrs. 223/597 38%
5 yrs. 150/554 28%
10 yrs. 51/408 13%
Lipper category: Large-Cap Growth Funds

Morningstar Ratings as of 05/31/18

Time period Funds in category Morningstar Rating
Overall 1269
3 yrs. 1269
5 yrs. 1151
10 yrs. 836
Morningstar category: Large Growth

Distributions

Record/Ex dividend date 12/06/17
Payable date 12/08/17
Income $0.08
Extra income --
Short-term cap. gain --
Long-term cap. gain $0.512

Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.


Holdings

Top 10 holdings as of 05/31/18

Amazon.Com 7.07%
Microsoft Corp 6.87%
Alphabet 5.80%
Apple 4.72%
Visa 4.55%
Becton Dickinson And 2.68%
Home Depot The 2.47%
Paypal Holdings 2.43%
UnitedHealth Group 2.37%
Union Pacific Corp 2.20%
Top 10 holdings, percent of portfolio 41.16%

Full portfolio holdings as of 06/30/18

MICROSOFT CORP 7.21%
AMAZON.COM INC 6.88%
ALPHABET INC-CL C 6.24%
APPLE INC 4.58%
VISA INC-CLASS A SHARES 4.02%
BECTON DICKINSON AND CO 2.84%
UNITEDHEALTH GROUP INC 2.66%
HOME DEPOT INC 2.53%
PAYPAL HOLDINGS INC 2.52%
CHARTER COMMUNICATIONS INC-A 2.41%
SALESFORCE.COM INC 2.35%
UNION PACIFIC CORP 2.23%
BOEING CO/THE 2.22%
MCCORMICK & CO-NON VTG SHRS 2.22%
AMERICAN TOWER CORP 2.19%
SHERWIN-WILLIAMS CO/THE 2.19%
PRAXAIR INC 2.15%
DANAHER CORP 2.04%
ADOBE SYSTEMS INC 2.00%
RAYTHEON COMPANY 1.86%
INTERCONTINENTAL EXCHANGE IN 1.82%
NETFLIX INC 1.81%
VERTEX PHARMACEUTICALS INC 1.79%
ALIBABA GROUP HOLDING-SP ADR 1.63%
SERVICENOW INC 1.61%
FACEBOOK INC-A 1.53%
COSTAR GROUP INC 1.46%
WYNN RESORTS LTD 1.45%
BOSTON SCIENTIFIC CORP 1.37%
LIVE NATION ENTERTAINMENT IN 1.37%
FORTIVE CORP 1.32%
BLACKROCK INC 1.28%
INTUITIVE SURGICAL INC 1.28%
ACTIVISION BLIZZARD INC 1.23%
ALEXION PHARMACEUTICALS INC 1.09%
PRUDENTIAL PLC 1.09%
METTLER-TOLEDO INTERNATIONAL 1.08%
BANK OF AMERICA CORP 0.98%
WASTE CONNECTIONS INC 0.97%
REALPAGE INC 0.85%
HILTON WORLDWIDE HOLDINGS IN 0.83%
ROPER TECHNOLOGIES INC 0.74%
WALMART INC 0.71%
ROCKWELL AUTOMATION INC 0.70%
TRANSDIGM GROUP INC 0.70%
OKTA INC 0.67%
BIOMARIN PHARMACEUTICAL INC 0.58%
SMITH (A.O.) CORP 0.58%
LIBERTY MEDIA CORP-LIBERTY-C 0.55%
BOOKING HOLDINGS INC 0.49%
SUMMIT MATERIALS INC -CL A 0.49%
UBER TECH INC P/P CV PFD 0.46%
DOCUSIGN INC 0.37%
COOPER COS INC/THE 0.35%
POUND STERLING CALL ACCOUNT 0.20%
OPORTUN FIN CORP P/P SERIES H PFD 0.10%
GLOBAL FASHION GRP P/P 0.04%
OPORTUN FIN CORP P/P 0.03%
OPORTUN FIN G-1 PFD CV P/P 0.03%
OPORTUN FIN F-1 PFD CV P/P 0.02%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
CANADIAN DOLLAR ACCOUNT 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
KOREAN WON CALL ACCOUNT 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%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN C-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%
GBP/USD 09/19/2018 BANKAM -0.01%
S&P500 EMINI FUT SEP18 ESU8 -0.01%

Prior top 10 holdings

Top 10 holdings as of 05/31/18
Amazon.Com
Microsoft Corp
Alphabet
Apple
Visa
Becton Dickinson And
Home Depot The
Paypal Holdings
UnitedHealth Group
Union Pacific Corp
Holdings represent 41.16% of portfolio
Top 10 holdings as of 04/30/18
Amazon.Com
Microsoft Corp
Alphabet
Visa
Apple
Becton Dickinson And
Home Depot The
Paypal Holdings
UnitedHealth Group
Charter Communications
Holdings represent 41.37% of portfolio
Top 10 holdings as of 03/31/18
Amazon.Com
Microsoft Corp
Alphabet
Visa
Apple
Becton Dickinson And
Paypal Holdings
Home Depot The
UnitedHealth Group
Alibaba Group Holding
Holdings represent 40.22% of portfolio
Top 10 holdings as of 02/28/18
Amazon.Com
Microsoft Corp
Alphabet
Visa
Apple
Home Depot The
Becton Dickinson And
Paypal Holdings
Facebook
UnitedHealth Group
Holdings represent 41.30% of portfolio

Portfolio composition as of 05/31/18

Common stock 97.98%
Cash and net other assets 1.46%
Convertible preferred stock 0.56%

Equity statistics as of 05/31/18

Median market cap $35.48B
Weighted average market cap $283.16B
Price to book 5.93
Price to earnings 24.92

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific issuer or industry. You can lose money by investing in the fund.

Top industry sectors as of 05/31/18

Information technology 37.43%
Consumer discretionary 20.20%
Health care 14.17%
Industrials 12.25%
Financials 5.30%
Materials 4.20%
Consumer staples 3.28%
Real estate 1.62%
Cash and net other assets 1.46%
 
Other
0.09%
Energy 0.09%

The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Sectors will vary over time.


Expenses

Expense ratio

Class A Class B Class C Class M Class R Class R5 Class R6 Class Y
Total expense ratio 0.93% 1.68% 1.68% 1.43% 1.18% 0.63% 0.53% 0.68%
What you pay 0.93% 1.68% 1.68% 1.43% 1.18% 0.63% 0.53% 0.68%

Sales charge

Investment Breakpoint Class A Class B Class C Class M Class R Class R5 Class R6 Class Y
$0-$49,999 5.75% 0.00% 0.00% 3.50% -- -- -- --
$50,000-$99,999 4.50% 0.00% 0.00% 2.50% -- -- -- --
$100,000-$249,999 3.50% -- 0.00% 1.50% -- -- -- --
$250,000-$499,999 2.50% -- 0.00% 1.00% -- -- -- --
$500,000-$999,999 2.00% -- 0.00% 1.00% -- -- -- --
$1M-$4M 0.00% -- -- -- -- -- -- --
$4M-$50M 0.00% -- -- -- -- -- -- --
$50M+ 0.00% -- -- -- -- -- -- --

CDSC

  Class A (sales for $1,000,000+) Class B Class C Class M Class R Class R5 Class R6 Class Y
0 to 9 mts. 1.00% 5.00% 1.00% -- -- -- -- --
9 to 12 mts. 1.00% 5.00% 1.00% -- -- -- -- --
2 yrs. 0.00% 4.00% 0.00% -- -- -- -- --
3 yrs. 0.00% 3.00% 0.00% -- -- -- -- --
4 yrs. 0.00% 3.00% 0.00% -- -- -- -- --
5 yrs. 0.00% 2.00% 0.00% -- -- -- -- --
6 yrs. 0.00% 1.00% 0.00% -- -- -- -- --
7+ yrs. 0.00% 0.00% 0.00% -- -- -- -- --

The Russell 1000 Growth Index is an unmanaged index of those companies in the large-cap Russell 1000 Index chosen for their growth orientation. You cannot invest directly in an index.

Consider these risks before investing: Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific issuer or industry. You can lose money by investing in the fund.