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 05/31/19

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 12% 13/112
1 yr. 31% 48/154
3 yrs. 14% 19/144
5 yrs. 37% 52/142

Risk Characteristics as of 05/31/19

Alpha (%) 0.80
Beta 0.98
R squared 0.97
Standard deviation (3 yrs.) 11.44

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 05/31/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 157
Turnover (fiscal year end) 76%
Net Assets $44M
Inception Date 10/01/98

Holdings

Top 10 holdings as of 05/31/19

Microsoft Corp 4.50%
Alphabet 3.38%
Amazon.Com 3.38%
Apple 2.62%
Facebook 2.03%
Bank Of America Corp 1.96%
Procter Gamble The 1.82%
Home Depot The 1.75%
Coca-Cola The 1.71%
Citigroup 1.50%
Top 10 holdings, total: 24.65%

Full Portfolio Holdings as of 03/31/19

MICROSOFT CORP 4.03%
ALPHABET INC-CL A 3.02%
AMAZON.COM INC 2.91%
APPLE INC 2.66%
BANK OF AMERICA CORP 2.11%
HONEYWELL INTERNATIONAL INC 1.82%
FACEBOOK INC-CLASS A 1.81%
COCA-COLA CO/THE 1.75%
VISA INC-CLASS A SHARES 1.75%
HOME DEPOT INC 1.71%
PROCTER & GAMBLE CO/THE 1.69%
BP PLC 1.58%
CITIGROUP INC 1.49%
GENERAL MOTORS CO 1.38%
JOHNSON & JOHNSON 1.34%
DANAHER CORP 1.30%
ASSURED GUARANTY LTD 1.27%
QUALCOMM INC 1.25%
CENOVUS ENERGY INC 1.19%
ACTIVISION BLIZZARD INC 1.18%
MERCK & CO. INC. 1.15%
SALESFORCE.COM INC 1.09%
CIGNA CORP 1.07%
GOLDMAN SACHS GROUP INC 1.06%
NXP SEMICONDUCTORS NV 1.06%
ADOBE INC 1.05%
DOWDUPONT INC 1.05%
DXC TECHNOLOGY CO 1.05%
KKR & CO INC -A 1.03%
PFIZER INC 0.97%
WALMART INC 0.97%
UNION PACIFIC CORP 0.94%
GAMING AND LEISURE PROPERTIE 0.92%
FIDELITY NATIONAL INFO SERV 0.91%
PRUDENTIAL PLC 0.91%
UNITEDHEALTH GROUP INC 0.89%
AMERICAN ELECTRIC POWER 0.88%
INTEL CORP 0.88%
JPMORGAN CHASE & CO 0.88%
WELLS FARGO & CO 0.82%
EXELON CORP 0.81%
ROPER TECHNOLOGIES INC 0.79%
EATON CORP PLC 0.78%
JOHNSON CONTROLS INTERNATION 0.78%
WALT DISNEY CO/THE 0.77%
VERIZON COMMUNICATIONS INC 0.76%
HERSHEY CO/THE 0.74%
BOOKING HOLDINGS INC 0.73%
E*TRADE FINANCIAL CORPORATION 0.73%
ON SEMICONDUCTOR CORP 0.73%
ENTERPRISE PRODUCTS PARTNERS 0.70%
COMCAST CORP-CLASS A 0.69%
MCCORMICK & CO-NON VTG SHRS 0.69%
ELI LILLY & CO 0.68%
SHERWIN-WILLIAMS CO/THE 0.68%
CHARTER COMMUNICATIONS INC-A 0.66%
WASTE CONNECTIONS INC 0.65%
AMGEN INC 0.64%
AT&T INC 0.63%
KINDER MORGAN INC 0.63%
HILTON WORLDWIDE HOLDINGS IN 0.62%
NIKE INC -CL B 0.61%
LINDE PLC 0.59%
BLACKROCK INC 0.58%
BOEING CO/THE 0.58%
NORFOLK SOUTHERN CORP 0.58%
RAYMOND JAMES FINANCIAL INC 0.56%
FORTUNE BRANDS HOME & SECURI 0.54%
AMERICAN INTERNATIONAL GROUP 0.53%
NRG ENERGY INC 0.53%
PEPSICO INC 0.53%
NEXTERA ENERGY INC 0.51%
SBA COMMUNICATIONS CORP 0.51%
YUM CHINA HOLDINGS INC 0.51%
CHIPOTLE MEXICAN GRILL INC 0.50%
BAXTER INTERNATIONAL INC 0.49%
BRISTOL-MYERS SQUIBB CO 0.49%
CLOROX COMPANY 0.49%
FIRST DATA CORP- CLASS A 0.48%
FORTIVE CORP 0.48%
BECTON DICKINSON AND CO 0.46%
FREEPORT-MCMORAN INC 0.46%
WYNN RESORTS LTD 0.46%
CISCO SYSTEMS INC 0.44%
INTERCONTINENTAL EXCHANGE IN 0.44%
INTUITIVE SURGICAL INC 0.44%
NETEASE INC-ADR 0.44%
LIVE NATION ENTERTAINMENT IN 0.43%
ABBOTT LABORATORIES 0.42%
COSTCO WHOLESALE CORP 0.41%
EVERBRIDGE INC 0.40%
ABBVIE INC 0.39%
CHUBB LTD 0.39%
FMC CORP 0.39%
ALLERGAN PLC 0.37%
TENCENT HOLDINGS LTD 0.36%
METTLER-TOLEDO INTERNATIONAL 0.35%
ANADARKO PETROLEUM CORP 0.34%
ENCANA CORP 0.34%
TJX COMPANIES INC 0.34%
DEERE & CO 0.32%
AMETEK INC 0.31%
MEDTRONIC PLC 0.31%
TRANSDIGM GROUP INC 0.31%
BOSTON SCIENTIFIC CORP 0.30%
GILEAD SCIENCES INC 0.30%
ICU MEDICAL INC 0.30%
SUNTRUST BANKS INC 0.30%
EDWARDS LIFESCIENCES CORP 0.29%
GODADDY INC - CLASS A 0.28%
VERTEX PHARMACEUTICALS INC 0.28%
WALGREENS BOOTS ALLIANCE INC 0.28%
CVS HEALTH CORP 0.27%
CAIRN ENERGY PLC 0.25%
SUMMIT MATERIALS INC -CL A 0.24%
BJ'S WHOLESALE CLUB HOLDINGS 0.23%
BURLINGTON STORES INC 0.23%
MGM RESORTS INTERNATIONAL 0.23%
BALL CORP 0.22%
LEVI STRAUSS & CO- CLASS A 0.22%
REGENERON PHARMACEUTICALS 0.21%
SEMPRA ENERGY 0.21%
YELLOW CAKE PLC 144A 0.21%
ADVANCE AUTO PARTS 0.20%
CARMAX INC 0.20%
THERMO FISHER SCIENTIFIC INC 0.20%
CMS ENERGY CORP 0.19%
SOUTHERN CO/THE 0.19%
CONOCOPHILLIPS 0.17%
ALIBABA GROUP HOLDING-SP ADR 0.15%
AMEREN CORPORATION 0.15%
ARCHER-DANIELS-MIDLAND CO 0.15%
CELGENE CORP 0.15%
DOMINION ENERGY INC 0.15%
DUKE ENERGY CORP 0.14%
EDISON INTERNATIONAL 0.14%
FIRSTENERGY CORP 0.14%
W.R. GRACE & CO 0.12%
ECOLAB INC 0.11%
PACKAGING CORP OF AMERICA 0.11%
APOLLO GLOBAL MANAGEMENT - A 0.07%
OPORTUN FIN CORP P/P SERIES H PFD 0.07%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
PPL CORP 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.03%
CAD/USD 04/17/2019 JPMCB 0.01%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
RU20INTR P USL1M R 12/15/20 GS 0.01%
S&P500 EMINI FUT JUN19 ESM9 0.01%
CAD/USD 04/17/2019 GSFX 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
CNH/USD 05/15/2019 HSBCB 0.00%
EUR/USD 06/19/2019 BANKAM 0.00%
GBP/USD 06/19/2019 BANKAM 0.00%
GBP/USD 06/19/2019 BCAP-FX 0.00%
GBP/USD 06/19/2019 GSFX 0.00%
GBP/USD 06/19/2019 JPMCB 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 04/17/2019 SSBT 0.00%
KOREAN WON CALL ACCOUNT 0.00%
KRW/USD 05/15/2019 JPMCB 0.00%
NOK/USD 06/19/2019 JPMCB 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%
POUND STERLING CALL ACCOUNT 0.00%

Prior top 10 holdings

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
Top 10 holdings as of 04/30/19
1: Microsoft Corp 4.39%
2: Amazon.Com 3.14%
3: Alphabet 3.01%
4: Apple 2.77%
5: Facebook 2.12%
6: Bank Of America Corp 2.08%
7: Visa 1.85%
8: Home Depot The 1.73%
9: Coca-Cola The 1.58%
10: Citigroup 1.52%
Holdings represent 24.19% of portfolio
Top 10 holdings as of 03/31/19
1: Microsoft Corp 4.03%
2: Alphabet 3.02%
3: Amazon.Com 2.91%
4: Apple 2.66%
5: Bank Of America Corp 2.11%
6: Honeywell International 1.82%
7: Facebook 1.81%
8: Visa 1.75%
9: Coca-Cola The 1.75%
10: Home Depot 1.71%
Holdings represent 23.57% of portfolio
Top 10 holdings as of 02/28/19
1: Microsoft Corp 3.90%
2: Alphabet 2.94%
3: Amazon.Com 2.84%
4: Apple 2.47%
5: Bank Of America Corp 2.26%
6: Visa 1.92%
7: Facebook 1.79%
8: Coca-Cola The 1.73%
9: Home Depot The 1.69%
10: Honeywell International 1.69%
Holdings represent 23.23% of portfolio

Portfolio Composition as of 05/31/19

Common stock 98.34%
Cash and net other assets 1.48%
Convertible preferred stock 0.18%

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 05/31/19

Information technology 18.86%
Health care 13.12%
Financials 12.67%
Consumer discretionary 11.25%
Communication services 11.01%
Industrials 9.13%
Consumer staples 7.87%
Energy 5.15%
Utilities 4.05%
 
Other
6.89%
Materials 3.53%
Real estate 1.88%
Cash and net other assets 1.48%