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 08/31/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 151
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 06/30/19

MICROSOFT CORP 4.60%
AMAZON.COM INC 3.40%
ALPHABET INC-CL A 3.07%
APPLE INC 2.80%
FACEBOOK INC-CLASS A 2.08%
BANK OF AMERICA CORP 2.01%
PROCTER & GAMBLE CO/THE 2.00%
HOME DEPOT INC 1.81%
COCA-COLA CO/THE 1.78%
CITIGROUP INC 1.63%
VISA INC-CLASS A SHARES 1.40%
GENERAL MOTORS CO 1.32%
FIDELITY NATIONAL INFO SERV 1.29%
DXC TECHNOLOGY CO 1.29%
BP PLC 1.28%
WALMART INC 1.28%
MASTERCARD INC - A 1.25%
CENOVUS ENERGY INC 1.22%
CIGNA CORP 1.21%
ASSURED GUARANTY LTD 1.20%
NXP SEMICONDUCTORS NV 1.20%
MERCK & CO. INC. 1.20%
JOHNSON & JOHNSON 1.19%
HONEYWELL INTERNATIONAL INC 1.16%
ADOBE INC 1.13%
GOLDMAN SACHS GROUP INC 1.10%
AMERICAN INTERNATIONAL GROUP 1.09%
TEXAS INSTRUMENTS INC 1.04%
PRUDENTIAL PLC 1.02%
NETFLIX INC 0.97%
CHARTER COMMUNICATIONS INC-A 0.97%
JPMORGAN CHASE & CO 0.93%
AMERICAN ELECTRIC POWER 0.92%
ENTERPRISE PRODUCTS PARTNERS 0.92%
AT&T INC 0.92%
SALESFORCE.COM INC 0.92%
WALT DISNEY CO/THE 0.90%
PNC FINANCIAL SERVICES GROUP 0.89%
EXELON CORP 0.86%
DANAHER CORP 0.85%
UNITEDHEALTH GROUP INC 0.85%
EATON CORP PLC 0.83%
BOOKING HOLDINGS INC 0.82%
UNION PACIFIC CORP 0.82%
PFIZER INC 0.81%
LINDE PLC 0.79%
GAMING AND LEISURE PROPERTIE 0.79%
SBA COMMUNICATIONS CORP 0.79%
ON SEMICONDUCTOR CORP 0.78%
FIRST DATA CORP- CLASS A 0.75%
THERMO FISHER SCIENTIFIC INC 0.74%
ABBOTT LABORATORIES 0.74%
SHERWIN-WILLIAMS CO/THE 0.71%
FREEPORT-MCMORAN INC 0.67%
KKR & CO INC -A 0.67%
FORTUNE BRANDS HOME & SECURI 0.66%
HILTON WORLDWIDE HOLDINGS IN 0.65%
E*TRADE FINANCIAL CORPORATION 0.64%
NIKE INC -CL B 0.59%
HERSHEY CO/THE 0.59%
NEXTERA ENERGY INC 0.59%
ACTIVISION BLIZZARD INC 0.58%
NETEASE INC-ADR 0.58%
DASSAULT SYSTEMES SA 0.57%
BLACKROCK INC 0.56%
BOEING CO/THE 0.55%
ABBVIE INC 0.54%
AMGEN INC 0.54%
NORTHROP GRUMMAN CORP 0.53%
ELECTRONIC ARTS INC 0.53%
WELLS FARGO & CO 0.53%
RAYMOND JAMES FINANCIAL INC 0.52%
YUM CHINA HOLDINGS INC 0.51%
NRG ENERGY INC 0.51%
CHIPOTLE MEXICAN GRILL INC 0.50%
BOSTON SCIENTIFIC CORP 0.50%
WYNN RESORTS LTD 0.49%
NORFOLK SOUTHERN CORP 0.49%
GENERAL DYNAMICS CORP 0.48%
PEPSICO INC 0.47%
MCCORMICK & CO-NON VTG SHRS 0.47%
ELI LILLY & CO 0.46%
UNITED TECHNOLOGIES CORP 0.46%
CISCO SYSTEMS INC 0.44%
COSTCO WHOLESALE CORP 0.44%
INTERCONTINENTAL EXCHANGE IN 0.44%
TYSON FOODS INC-CL A 0.40%
JOHNSON CONTROLS INTERNATION 0.39%
VERTEX PHARMACEUTICALS INC 0.39%
ANGLO AMER PLC 0.39%
SOUTHERN CO/THE 0.38%
BAXTER INTERNATIONAL INC 0.38%
STANLEY BLACK & DECKER INC 0.37%
BRISTOL-MYERS SQUIBB CO 0.36%
CVS HEALTH CORP 0.36%
UNITED RENTALS INC 0.35%
STRYKER CORP 0.35%
GENERAL ELECTRIC CO 0.34%
TRANSDIGM GROUP INC 0.34%
ROPER TECHNOLOGIES INC 0.34%
TJX COMPANIES INC 0.33%
ALLERGAN PLC 0.31%
ENCANA CORP 0.30%
DEERE & CO 0.30%
COOPER COS INC/THE 0.29%
MEDTRONIC PLC 0.29%
METTLER-TOLEDO INTERNATIONAL 0.28%
AMEREN CORPORATION 0.28%
GILEAD SCIENCES INC 0.27%
BALL CORP 0.26%
3M CO 0.26%
CAIRN ENERGY PLC 0.26%
BURLINGTON STORES INC 0.26%
YELLOW CAKE PLC 144A 0.26%
AIR CANADA 0.25%
DOW INC 0.25%
CARMAX INC 0.24%
KOSMOS ENERGY LTD 0.23%
SUMMIT MATERIALS INC -CL A 0.22%
IDEXX LABORATORIES INC 0.22%
BJ'S WHOLESALE CLUB HOLDINGS 0.22%
ARAMARK 0.21%
COSTAR GROUP INC 0.20%
EDISON INTERNATIONAL 0.20%
BECTON DICKINSON AND CO 0.19%
WASTE CONNECTIONS INC 0.19%
DUPONT DE NEMOURS INC 0.19%
LEVI STRAUSS & CO- CLASS A 0.19%
MGM RESORTS INTERNATIONAL 0.18%
ADVANCE AUTO PARTS 0.18%
FEDEX CORP 0.15%
ARCHER-DANIELS-MIDLAND CO 0.14%
AVERY DENNISON CORP 0.13%
W.R. GRACE & CO 0.09%
ICU MEDICAL INC 0.09%
APTARGROUP INC 0.08%
TREASURY BILL 00.0000 08/01/2019 0.07%
OPORTUN FIN CORP P/P SERIES H PFD 0.07%
APOLLO GLOBAL MANAGEMENT - A 0.06%
OPORTUN FIN G-1 PFD CV P/P 0.04%
BRIGHAM MINERALS INC-CL A 0.04%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.04%
CNH/USD 08/21/2019 HSBCB 0.03%
TREASURY BILL 00.0000 08/15/2019 0.02%
OPORTUN FIN F PFD CV P/P 0.01%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN C-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
CAD/USD 07/17/2019 GSFX 0.00%
ILS/USD 07/17/2019 SSBT 0.00%
NOK/USD 09/18/2019 JPMCB 0.00%
OPORTUN FIN A-1 PFD CV P/P 0.00%
GBP/USD 09/18/2019 BANKAM -0.00%
GBP/USD 09/18/2019 BCAP-FX -0.00%
GBP/USD 09/18/2019 GSFX -0.00%
GBP/USD 09/18/2019 JPMCB -0.00%
CAD/USD 07/17/2019 BANKAM -0.01%
EUR/USD 09/18/2019 CITI -0.01%
CAD/USD 07/17/2019 JPMCB -0.03%
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%