Putnam Capital Manager

Putnam Multi-Cap Core Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in stocks of U.S companies of all sizes. The subaccount is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking opportunities across a wide range of stocks"Go anywhere" approach: The fund invests in stocks of U.S. companies of all sizes and has the flexibility to own both growth and value stocks.A disciplined process: The portfolio managers use a disciplined, fundamental investment process with three buckets of idea generation: legacy companies, smart-money indicators, and special situations.Research focus: Backed by an Equity Research team, the portfolio managers use their stock-picking expertise to identify opportunities and manage risk.

Management team

Lipper ranking ‡ as of 08/31/19

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 49% 53/109
1 yr. 88% 133/151
3 yrs. 53% 75/141
5 yrs. 74% 104/140

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 09/30/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 129
Turnover (fiscal year end) 34%
Net Assets $252M
Inception Date 05/01/98

Holdings

Top 10 holdings as of 08/31/19

Microsoft Corp 6.73%
Apple 4.89%
Alphabet 2.55%
JPMorgan Chase 2.55%
Bank Of America Corp 2.44%
Amazon.Com 2.20%
Cisco Systems 2.09%
Visa 1.99%
Walmart 1.96%
Amgen 1.71%
Top 10 holdings, total: 29.11%

Full Portfolio Holdings as of 09/30/19

MICROSOFT CORP SEDOL 2588173 6.68%
APPLE INC SEDOL 2046251 5.17%
JPMORGAN CHASE & CO SEDOL 2190385 2.64%
ALPHABET INC-CL C SEDOL BYY88Y7 2.58%
BANK OF AMERICA CORP SEDOL 2295677 2.50%
CISCO SYSTEMS INC SEDOL 2198163 2.17%
AMAZON.COM INC SEDOL 2000019 2.11%
WALMART INC SEDOL 2936921 2.00%
VISA INC-CLASS A SHARES SEDOL B2PZN04 1.86%
AMGEN INC SEDOL 2023607 1.56%
COMCAST CORP-CLASS A SEDOL 2044545 1.54%
BERKSHIRE HATHAWAY INC-CL B SEDOL 2073390 1.51%
FACEBOOK INC-CLASS A SEDOL B7TL820 1.46%
CITIGROUP INC SEDOL 2297907 1.42%
INDUSTRIAL SELECT SECT SPDR SEDOL 2502139 1.37%
PROCTER & GAMBLE CO/THE SEDOL 2704407 1.28%
UNITEDHEALTH GROUP INC SEDOL 2917766 1.27%
INTEL CORP SEDOL 2463247 1.27%
GOLDMAN SACHS GROUP INC SEDOL 2407966 1.20%
HEALTH CARE SELECT SECTOR SEDOL 2371823 1.19%
PULTEGROUP INC SEDOL 2708841 1.18%
WALT DISNEY CO/THE SEDOL 2270726 1.14%
ORACLE CORP SEDOL 2661568 1.13%
HONEYWELL INTERNATIONAL INC SEDOL 2020459 1.13%
BAXTER INTERNATIONAL INC SEDOL 2085102 1.10%
AT&T INC SEDOL 2831811 1.07%
TARGET CORP SEDOL 2259101 1.03%
MERCK & CO. INC. SEDOL 2778844 1.02%
NRG ENERGY INC SEDOL 2212922 1.02%
ROYAL DUTCH SHELL-SPON ADR-A SEDOL B03MM62 1.00%
LOWES COMPANIES INC 0.98%
LAM RESEARCH CORP SEDOL 2502247 0.95%
COCA-COLA CO/THE SEDOL 2206657 0.94%
CONOCOPHILLIPS 0.91%
CAPITAL ONE FINANCIAL CORP SEDOL 2654461 0.91%
JOHNSON & JOHNSON SEDOL 2475833 0.89%
ENTERGY CORP SEDOL 2317087 0.86%
CELANESE CORP SEDOL B05MZT4 0.84%
EXELON CORP SEDOL 2670519 0.84%
LIVE NATION ENTERTAINMENT IN SEDOL B0T7YX2 0.83%
HCA HEALTHCARE INC SEDOL B4MGBG6 0.80%
KINDER MORGAN INC SEDOL B3NQ4P8 0.79%
RAYMOND JAMES FINANCIAL INC SEDOL 2718992 0.78%
GILEAD SCIENCES INC SEDOL 2369174 0.77%
SOUTHWEST AIRLINES CO SEDOL 2831543 0.77%
AMERIPRISE FINANCIAL INC SEDOL B0J7D57 0.76%
HOME DEPOT INC SEDOL 2434209 0.76%
UNION PACIFIC CORP SEDOL 2914734 0.74%
BEST BUY CO INC SEDOL 2094670 0.74%
BOOKING HOLDINGS INC SEDOL BDRXDB4 0.73%
WELLS FARGO & CO SEDOL 2649100 0.70%
REPUBLIC SERVICES INC SEDOL 2262530 0.67%
AIR CANADA SEDOL BSDHYK1 0.66%
INTL BUSINESS MACHINES CORP SEDOL 2005973 0.66%
EQUITY COMMONWEALTH SEDOL BPH3N63 0.66%
ENTERPRISE PRODUCTS PARTNERS SEDOL 2285388 0.64%
MAGNA INTERNATIONAL INC SEDOL 2554549 0.63%
BRISTOL-MYERS SQUIBB CO SEDOL 2126335 0.62%
ASSURED GUARANTY LTD SEDOL B00V7H8 0.61%
VALERO ENERGY CORP SEDOL 2041364 0.61%
LINCOLN NATIONAL CORP SEDOL 2516378 0.60%
CBRE GROUP INC - A SEDOL B6WVMH3 0.60%
MCKESSON CORP SEDOL 2378534 0.59%
GENERAL MOTORS CO SEDOL B665KZ5 0.59%
APOLLO GLOBAL MANAGEMENT INC SEDOL BKRLVD5 0.58%
JAZZ PHARMACEUTICALS PLC SEDOL B4Q5ZN4 0.58%
ABBVIE INC SEDOL B92SR70 0.58%
MORGAN STANLEY 0.57%
CAMPBELL SOUP CO SEDOL 2162845 0.56%
SPDR S&P HOMEBUILDERS ETF SEDOL B0Y90L3 0.56%
EASTERLY GOVERNMENT PROPERTI SEDOL BVSS693 0.56%
ARMADA HOFFLER PROPERTIES IN SEDOL B96FTB5 0.54%
ELI LILLY & CO SEDOL 2516152 0.54%
MASTERCARD INC - A SEDOL B121557 0.54%
NORTHROP GRUMMAN CORP SEDOL 2648806 0.52%
MICRON TECHNOLOGY INC SEDOL 2588184 0.51%
BIOGEN INC SEDOL 2455965 0.50%
KENNEDY-WILSON HOLDINGS INC SEDOL B298495 0.50%
DISCOVERY INC - A SEDOL B3D7K31 0.48%
PEPSICO INC SEDOL 2681511 0.48%
ENERGY TRANSFER LP SEDOL B0WHXD2 0.48%
WALGREENS BOOTS ALLIANCE INC SEDOL BTN1Y44 0.46%
SUNCOR ENERGY INC SEDOL B3NB0P5 0.46%
AMERICAN AIRLINES GROUP INC SEDOL BCV7KT2 0.45%
KKR & CO INC -A SEDOL BG1FRR1 0.44%
UNITED RENTALS INC SEDOL 2134781 0.43%
CATERPILLAR INC SEDOL 2180201 0.41%
NUCOR CORP SEDOL 2651086 0.40%
TPG PACE HOLDINGS CORP SEDOL BF0N393 0.39%
PIRELLI & C SPA SEDOL BZ5ZHK3 0.38%
KROGER CO SEDOL 2497406 0.36%
TENET HEALTHCARE CORP SEDOL B8DMK08 0.35%
MASCO CORP SEDOL 2570200 0.31%
NORFOLK SOUTHERN CORP SEDOL 2641894 0.31%
ON SEMICONDUCTOR CORP SEDOL 2583576 0.30%
J2 ACQUISITION LTD SEDOL BKTPJJ7 0.29%
LIBERTY GLOBAL PLC-A SEDOL B8W6766 0.29%
FREEPORT-MCMORAN INC SEDOL 2352118 0.28%
RADIAN GROUP INC SEDOL 2173911 0.28%
CHANGE HEALTHCARE INC SEDOL BK5CVS5 0.28%
MOLSON COORS BREWING CO -B SEDOL B067BM3 0.26%
DUPONT DE NEMOURS INC SEDOL BK0VN47 0.26%
GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 0.25%
PLAINS GP HOLDINGS LP-CL A SEDOL BDGHN95 0.24%
DIAMONDBACK ENERGY INC SEDOL B7Y8YR3 0.24%
STANLEY BLACK & DECKER INC SEDOL B3Q2FJ4 0.20%
BRIGHAM MINERALS INC-CL A SEDOL BJHQ638 0.20%
ENCANA CORP SEDOL 2793182 0.19%
BLOOMIN' BRANDS INC SEDOL B847RJ0 0.18%
HILLTOP HOLDINGS INC SEDOL 2365428 0.18%
SIRIUS INTERNATIONAL INSURAN SEDOL BG36857 0.18%
LARGO RESOURCES LTD SEDOL BRK9VY6 0.18%
RATTLER MIDSTREAM LP SEDOL BJV12K8 0.17%
MARATHON OIL CORP SEDOL 2910970 0.15%
GREEN BRICK PARTNERS INC SEDOL BS7T2R6 0.15%
DOW INC SEDOL BHXCF84 0.14%
KURA SUSHI USA INC-CLASS A SEDOL BKDV6G7 0.12%
URBAN OUTFITTERS INC SEDOL 2933438 0.12%
KIMBELL ROYALTY PARTNERS LP SEDOL BYQFVW5 0.12%
BRIGHTVIEW HOLDINGS INC SEDOL BG0ZML1 0.12%
SWITCHBACK ENERGY ACQUISITIO SEDOL BJMSS55 0.09%
DYNATRACE INC SEDOL BJV2RD9 0.08%
PRIORITY TECHNOLOGY HOLDINGS SEDOL BZ9NRB4 0.05%
US XPRESS ENTERPRISES INC -A SEDOL BFXH9T4 0.03%
J2 ACQUISITION LTD-CW20 SEDOL BDZV0G4 0.01%
NESCO HOLDINGS-CW25 SEDOL BJ01GS5 0.00%
RA MEDICAL SYSTEMS INC SEDOL BF12X88 0.00%
SIRIUS INTERNATIONAL-CW23 SEDOL BH4CWB5 0.00%
GLOBAL FASHION GRP P/P 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
APO 20200117 C 45.00BCBP -0.00%

Prior top 10 holdings

Top 10 holdings as of 08/31/19
1: Microsoft Corp 6.73%
2: Apple 4.89%
3: Alphabet 2.55%
4: JPMorgan Chase 2.55%
5: Bank Of America Corp 2.44%
6: Amazon.Com 2.20%
7: Cisco Systems 2.09%
8: Visa 1.99%
9: Walmart 1.96%
10: Amgen 1.71%
Holdings represent 29.11% of portfolio
Top 10 holdings as of 07/31/19
1: Microsoft Corp 6.44%
2: Apple 4.83%
3: Bank Of America Corp 2.63%
4: JPMorgan Chase 2.61%
5: Alphabet 2.53%
6: Cisco Systems 2.39%
7: Amazon.Com 2.23%
8: Visa 1.90%
9: Walmart 1.83%
10: Citigroup 1.69%
Holdings represent 29.08% of portfolio
Top 10 holdings as of 06/30/19
1: Microsoft Corp 6.38%
2: Apple 4.52%
3: JPMorgan Chase 2.53%
4: Bank Of America Corp 2.51%
5: Cisco Systems 2.38%
6: Amazon.Com 2.28%
7: Alphabet 2.26%
8: Visa 1.86%
9: Walmart 1.85%
10: Citigroup 1.68%
Holdings represent 28.25% of portfolio
Top 10 holdings as of 05/31/19
1: Microsoft Corp 6.24%
2: Apple 4.24%
3: JPMorgan Chase 2.62%
4: Alphabet 2.44%
5: Bank Of America Corp 2.44%
6: Cisco Systems 2.40%
7: Amazon.Com 2.27%
8: Visa 1.83%
9: Walmart 1.80%
10: Citigroup 1.58%
Holdings represent 27.86% of portfolio

Portfolio Composition as of 08/31/19

Common stock 98.52%
Cash and net other assets 1.48%

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 08/31/19

Information technology 21.41%
Financials 16.23%
Health care 12.99%
Consumer discretionary 10.31%
Communication services 9.57%
Industrials 7.91%
Consumer staples 6.32%
Energy 6.08%
Real estate 3.07%
 
Other
6.11%
Utilities 2.62%
Materials 2.01%
Cash and net other assets 1.48%