Putnam Capital Manager

Putnam Research Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in stocks representing the best ideas of Putnam's global equity research analysts. The portfolio typically consists of large, U.S. companies believed to be worth more than their current stock prices indicate. The fund is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking to capitalize on the expertise of Putnam's research teamA best-ideas fund: The fund represents the stock selections of Putnam's Global Equity Research Group, whose analysts cover more than 1,000 companies.A flexible strategy: The fund can own growth- or value-style stocks, allowing it to seek opportunities regardless of which style is in favor.A rigorous process: The fund's experienced managers use rigorous fundamental investment research to oversee the portfolio 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. 15% 16/109
1 yr. 32% 48/151
3 yrs. 13% 18/141
5 yrs. 33% 46/140

Risk Characteristics as of 08/31/19

Alpha (%) 1.02
Beta 0.98
R squared 0.97
Standard deviation (3 yrs.) 11.94

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 143
Turnover (fiscal year end) 76%
Net Assets $45M
Inception Date 10/01/98

Holdings

Top 10 holdings as of 08/31/19

Microsoft Corp 4.55%
Alphabet 3.39%
Amazon.Com 3.18%
Apple 2.75%
Facebook 2.06%
Procter Gamble The 2.02%
Bank Of America Corp 1.89%
Home Depot The 1.85%
Coca-Cola The 1.78%
Citigroup 1.49%
Top 10 holdings, total: 24.96%

Full Portfolio Holdings as of 09/30/19

MICROSOFT CORP SEDOL 2588173 4.56%
ALPHABET INC-CL A SEDOL BYVY8G0 3.45%
AMAZON.COM INC SEDOL 2000019 3.09%
APPLE INC SEDOL 2046251 2.68%
PROCTER & GAMBLE CO/THE SEDOL 2704407 2.10%
BANK OF AMERICA CORP SEDOL 2295677 1.99%
FACEBOOK INC-CLASS A SEDOL B7TL820 1.96%
HOME DEPOT INC SEDOL 2434209 1.87%
COCA-COLA CO/THE SEDOL 2206657 1.78%
S&P500 EMINI FUT DEC19 ESZ9 1.65%
CITIGROUP INC SEDOL 2297907 1.59%
ACTIVISION BLIZZARD INC SEDOL 2575818 1.42%
NXP SEMICONDUCTORS NV SEDOL B505PN7 1.41%
FIDELITY NATIONAL INFO SERV SEDOL 2769796 1.40%
VISA INC-CLASS A SHARES SEDOL B2PZN04 1.39%
WALMART INC SEDOL 2936921 1.36%
BP PLC SEDOL 0798059 1.28%
MASTERCARD INC - A SEDOL B121557 1.28%
CENOVUS ENERGY INC SEDOL B57FG04 1.25%
ASSURED GUARANTY LTD SEDOL B00V7H8 1.23%
GENERAL MOTORS CO SEDOL B665KZ5 1.18%
MERCK & CO. INC. SEDOL 2778844 1.17%
CIGNA CORP SEDOL BHJ0775 1.13%
TEXAS INSTRUMENTS INC SEDOL 2885409 1.11%
AMERICAN INTERNATIONAL GROUP SEDOL 2027342 1.10%
JOHNSON & JOHNSON SEDOL 2475833 1.10%
HONEYWELL INTERNATIONAL INC SEDOL 2020459 1.08%
GOLDMAN SACHS GROUP INC SEDOL 2407966 1.07%
AMERICAN ELECTRIC POWER SEDOL 2026242 1.01%
CHARTER COMMUNICATIONS INC-A SEDOL BZ6VT82 1.01%
ADOBE INC SEDOL 2008154 1.00%
JPMORGAN CHASE & CO SEDOL 2190385 0.96%
PNC FINANCIAL SERVICES GROUP SEDOL 2692665 0.90%
GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 0.89%
NETFLIX INC SEDOL 2857817 0.88%
FISERV INC SEDOL 2342034 0.87%
SALESFORCE.COM INC SEDOL 2310525 0.86%
SBA COMMUNICATIONS CORP SEDOL BZ6TS23 0.84%
WALT DISNEY CO/THE SEDOL 2270726 0.84%
ON SEMICONDUCTOR CORP SEDOL 2583576 0.84%
NRG ENERGY INC SEDOL 2212922 0.84%
PRUDENTIAL PLC SEDOL 0709954 0.83%
AT&T INC SEDOL 2831811 0.82%
BOOKING HOLDINGS INC SEDOL BDRXDB4 0.82%
EATON CORP PLC SEDOL B8KQN82 0.82%
ENTERPRISE PRODUCTS PARTNERS SEDOL 2285388 0.82%
EXELON CORP SEDOL 2670519 0.79%
UNION PACIFIC CORP SEDOL 2914734 0.75%
UNITEDHEALTH GROUP INC SEDOL 2917766 0.75%
SHERWIN-WILLIAMS CO/THE SEDOL 2804211 0.70%
DANAHER CORP SEDOL 2250870 0.69%
NEXTERA ENERGY INC SEDOL 2328915 0.67%
ABBVIE INC SEDOL B92SR70 0.67%
PFIZER INC SEDOL 2684703 0.67%
NIKE INC -CL B SEDOL 2640147 0.65%
FORTUNE BRANDS HOME & SECURI SEDOL B3MC7D6 0.64%
AMGEN INC SEDOL 2023607 0.63%
ABBOTT LABORATORIES SEDOL 2002305 0.63%
HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 0.58%
NETEASE INC-ADR SEDOL 2606440 0.58%
E*TRADE FINANCIAL CORPORATION 0.57%
WELLS FARGO & CO SEDOL 2649100 0.55%
RAYMOND JAMES FINANCIAL INC SEDOL 2718992 0.53%
FREEPORT-MCMORAN INC SEDOL 2352118 0.52%
THERMO FISHER SCIENTIFIC INC SEDOL 2886907 0.52%
BLACKROCK INC SEDOL 2494504 0.52%
CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 0.51%
HERSHEY CO/THE SEDOL 2422806 0.51%
LINDE PLC SEDOL BZ12WP8 0.50%
BOEING CO/THE SEDOL 2108601 0.49%
DASSAULT SYSTEMES SA SEDOL 5330047 0.49%
YUM CHINA HOLDINGS INC SEDOL BYW4289 0.48%
GENERAL DYNAMICS CORP SEDOL 2365161 0.47%
COSTCO WHOLESALE CORP SEDOL 2701271 0.46%
INTERCONTINENTAL EXCHANGE IN SEDOL BFSSDS9 0.46%
UNITED TECHNOLOGIES CORP SEDOL 2915500 0.46%
BOSTON SCIENTIFIC CORP SEDOL 2113434 0.46%
KKR & CO INC -A SEDOL BG1FRR1 0.44%
WYNN RESORTS LTD SEDOL 2963811 0.43%
DUKE ENERGY CORP SEDOL B7VD3F2 0.43%
MEDTRONIC PLC SEDOL BTN1Y11 0.43%
CARMAX INC SEDOL 2983563 0.42%
NORTHROP GRUMMAN CORP SEDOL 2648806 0.42%
AMEREN CORPORATION SEDOL 2050832 0.42%
NORFOLK SOUTHERN CORP SEDOL 2641894 0.42%
ELI LILLY & CO SEDOL 2516152 0.42%
BECTON DICKINSON AND CO SEDOL 2087807 0.41%
RAYTHEON COMPANY SEDOL 2758051 0.41%
MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 0.41%
JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 0.40%
PEPSICO INC SEDOL 2681511 0.39%
TJX COMPANIES INC SEDOL 2989301 0.39%
BAXTER INTERNATIONAL INC SEDOL 2085102 0.36%
APOLLO GLOBAL MANAGEMENT INC SEDOL BKRLVD5 0.36%
TYSON FOODS INC-CL A SEDOL 2909730 0.36%
ILLUMINA INC SEDOL 2613990 0.35%
STANLEY BLACK & DECKER INC SEDOL B3Q2FJ4 0.35%
ZOETIS INC SEDOL B95WG16 0.35%
ANGLO AMER PLC SEDOL B1XZS82 0.34%
EDWARDS LIFESCIENCES CORP SEDOL 2567116 0.32%
MEDICINES COMPANY SEDOL 2616773 0.32%
UNITED RENTALS INC SEDOL 2134781 0.31%
ROPER TECHNOLOGIES INC SEDOL 2749602 0.31%
DEERE & CO SEDOL 2261203 0.31%
VERTEX PHARMACEUTICALS INC SEDOL 2931034 0.29%
ENCANA CORP SEDOL 2793193 0.29%
GENERAL ELECTRIC CO SEDOL 2380498 0.28%
DOUYU INTERNATIONAL HOLD-ADR SEDOL BJVJP36 0.28%
KOSMOS ENERGY LTD SEDOL BHK15K6 0.28%
EDISON INTERNATIONAL SEDOL 2829515 0.27%
BALL CORP SEDOL 2073022 0.27%
YELLOW CAKE PLC 144A SEDOL BF50RG4 0.27%
CAIRN ENERGY PLC SEDOL B74CDH8 0.27%
AIR CANADA SEDOL BSDHYK1 0.26%
ALLERGAN PLC SEDOL BY9D546 0.26%
DOW INC SEDOL BHXCF84 0.26%
BRISTOL-MYERS SQUIBB CO SEDOL 2126335 0.26%
TRANSDIGM GROUP INC SEDOL B11FJK3 0.25%
3M CO 0.24%
LEVI STRAUSS & CO- CLASS A SEDOL BHRWS81 0.24%
COOPER COS INC/THE SEDOL 2222631 0.23%
CVS HEALTH CORP SEDOL 2577609 0.23%
GILEAD SCIENCES INC SEDOL 2369174 0.23%
MCKESSON CORP SEDOL 2378534 0.22%
BJ'S WHOLESALE CLUB HOLDINGS SEDOL BFZNZF8 0.21%
ARAMARK SEDOL BH3XG17 0.21%
COSTAR GROUP INC SEDOL 2262864 0.20%
ECOLAB INC SEDOL 2304227 0.20%
ADVANCE AUTO PARTS 0.18%
AXA SA SEDOL 7088429 0.18%
DUPONT DE NEMOURS INC SEDOL BK0VN47 0.18%
WASTE CONNECTIONS INC SEDOL BYVG1F6 0.18%
CISCO SYSTEMS INC SEDOL 2198163 0.15%
SUMMIT MATERIALS INC -CL A SEDOL BW9JPS4 0.15%
OPORTUN FIN CORP P/P 0.14%
AVERY DENNISON CORP SEDOL 2066408 0.14%
BIOGEN INC SEDOL 2455965 0.14%
KELLOGG CO SEDOL 2486813 0.14%
BURLINGTON STORES INC SEDOL BF311Y5 0.14%
PACKAGING CORP OF AMERICA SEDOL 2504566 0.14%
FEDEX CORP SEDOL 2142784 0.13%
ULTA BEAUTY INC SEDOL B28TS42 0.10%
ARCHER-DANIELS-MIDLAND CO SEDOL 2047317 0.09%
TREASURY BILL 00.0000 11/21/2019 0.06%
TREASURY BILL 00.0000 10/10/2019 0.05%
EQT AB SEDOL BJ7W9K4 0.04%
CNH/USD 11/20/2019 HSBCB 0.02%
CAD/USD 10/16/2019 JPMCB 0.02%
CNH/USD 11/20/2019 JPMCB 0.01%
EUR/USD 12/18/2019 CITI 0.00%
CAD/USD 10/16/2019 BANKAM 0.00%
CAD/USD 10/16/2019 GSFX 0.00%
ILS/USD 10/16/2019 SSBT 0.00%
NOK/USD 12/18/2019 JPMCB 0.00%
GBP/USD 12/18/2019 JPMCB -0.01%
GBP/USD 12/18/2019 GSFX -0.01%
GBP/USD 12/18/2019 BCAP-FX -0.01%
RU20INTR P USL1M R 12/15/20 GS -1.32%

Prior top 10 holdings

Top 10 holdings as of 08/31/19
1: Microsoft Corp 4.55%
2: Alphabet 3.39%
3: Amazon.Com 3.18%
4: Apple 2.75%
5: Facebook 2.06%
6: Procter Gamble The 2.02%
7: Bank Of America Corp 1.89%
8: Home Depot The 1.85%
9: Coca-Cola The 1.78%
10: Citigroup 1.49%
Holdings represent 24.96% of portfolio
Top 10 holdings as of 07/31/19
1: Microsoft Corp 4.53%
2: Alphabet 3.35%
3: Amazon.Com 3.24%
4: Apple 2.91%
5: Facebook 2.10%
6: Bank Of America Corp 2.04%
7: Procter Gamble The 2.04%
8: Home Depot The 1.78%
9: Coca-Cola The 1.74%
10: Citigroup 1.59%
Holdings represent 25.32% of portfolio
Top 10 holdings as of 06/30/19
1: Microsoft Corp 4.60%
2: Amazon.Com 3.40%
3: Alphabet 3.07%
4: Apple 2.80%
5: Facebook 2.08%
6: Bank Of America Corp 2.01%
7: Procter Gamble The 2.00%
8: Home Depot The 1.81%
9: Coca-Cola The 1.78%
10: Citigroup 1.63%
Holdings represent 25.18% of portfolio
Top 10 holdings as of 05/31/19
1: Microsoft Corp 4.50%
2: Alphabet 3.38%
3: Amazon.Com 3.38%
4: Apple 2.62%
5: Facebook 2.03%
6: Bank Of America Corp 1.96%
7: Procter Gamble The 1.82%
8: Home Depot The 1.75%
9: Coca-Cola The 1.71%
10: Citigroup 1.50%
Holdings represent 24.65% of portfolio

Portfolio Composition as of 08/31/19

Common stock 97.83%
Cash and net other assets 2.05%
Convertible preferred stock 0.12%

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 18.74%
Health care 13.51%
Financials 12.90%
Consumer discretionary 11.34%
Communication services 11.20%
Industrials 9.22%
Consumer staples 7.75%
Utilities 4.04%
Energy 3.90%
 
Other
7.40%
Materials 3.53%
Cash and net other assets 2.05%
Real estate 1.82%