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 10/31/20

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 36% 42/119
1 yr. 46% 72/157
3 yrs. 59% 87/149
5 yrs. 54% 75/139

‡ 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 11/30/20

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 92
Turnover (fiscal year end) 24%
Net Assets $264M
Inception Date 04/30/98

Holdings

Microsoft Corp 8.10%
Apple 7.75%
Amazon.Com 4.17%
Alphabet 3.32%
Bank Of America Corp 2.33%
Facebook 2.10%
JPMorgan Chase 1.98%
Berkshire Hathaway 1.82%
Walmart 1.79%
Amgen 1.66%
Top 10 holdings, total: 35.02%


Top 10 holdings as of 10/31/20
1: Microsoft Corp 8.10%
2: Apple 7.75%
3: Amazon.Com 4.17%
4: Alphabet 3.32%
5: Bank Of America Corp 2.33%
6: Facebook 2.10%
7: JPMorgan Chase 1.98%
8: Berkshire Hathaway 1.82%
9: Walmart 1.79%
10: Amgen 1.66%
Holdings represent 35.02% of portfolio
Top 10 holdings as of 09/30/20
1: Microsoft Corp 8.18%
2: Apple 7.98%
3: Amazon.Com 4.17%
4: Alphabet 2.93%
5: Bank Of America Corp 2.29%
6: Facebook 2.03%
7: Amgen 1.88%
8: JPMorgan Chase 1.88%
9: Berkshire Hathaway 1.85%
10: Walmart 1.75%
Holdings represent 34.94% of portfolio
Top 10 holdings as of 08/31/20
1: Apple 8.47%
2: Microsoft Corp 8.35%
3: Amazon.Com 4.35%
4: Alphabet 3.10%
5: Bank Of America Corp 2.33%
6: Facebook 2.16%
7: JPMorgan Chase 1.86%
8: Berkshire Hathaway 1.81%
9: Visa 1.80%
10: Amgen 1.79%
Holdings represent 36.02% of portfolio
Top 10 holdings as of 07/31/20
1: Microsoft Corp 8.21%
2: Apple 7.61%
3: Amazon.Com 4.28%
4: Alphabet 3.03%
5: Bank Of America Corp 2.41%
6: Facebook 1.99%
7: JPMorgan Chase 1.93%
8: Amgen 1.90%
9: Berkshire Hathaway 1.74%
10: Visa 1.73%
Holdings represent 34.83% of portfolio


Portfolio Composition as of 10/31/20

Common stock 98.96%
Convertible bonds 0.62%
Cash and net other assets 0.42%

Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. 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. 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 10/31/20

Information technology 26.28%
Consumer discretionary 13.73%
Financials 13.56%
Health care 13.03%
Communication services 8.82%
Industrials 8.17%
Consumer staples 6.00%
Utilities 2.60%
Real estate 2.54%
 
Other
5.27%
Materials 2.51%
Energy 2.34%
Cash and net other assets 0.42%