‡ 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.
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
- Kathryn B. Lakin (Investing since 2008)
- Walter D. Scully, CPA (Investing since 1996)
Lipper ranking ‡ as of 10/31/23
Category: Large-Cap Core Funds
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 14% | 17/126 |
| 1 yr. | 17% | 34/200 |
| 3 yrs. | 24% | 35/148 |
| 5 yrs. | 13% | 18/140 |
Risk Characteristics as of 10/31/23
| Alpha (%) | -0.01 |
| Beta | 0.98 |
| R squared | 0.99 |
| Standard deviation (3 yrs.) | 17.31 |
Quick facts as of 11/30/23
| Fiscal Year End | December |
| Asset Class | Putnam Capital Manager |
| Subaccount Status | Open to new investors |
| Number of issues | 126 |
| Turnover (fiscal year end) | 40% |
| Net Assets | $77M |
| Inception Date | 09/30/98 |
Holdings
| Microsoft Corp | 8.03% |
| Apple | 4.68% |
| Alphabet | 4.07% |
| Amazon.Com | 3.87% |
| Nvidia Corp | 2.93% |
| Oracle Corp | 2.51% |
| Meta Platforms | 2.16% |
| Exxon Mobil Corp | 2.14% |
| UnitedHealth Group | 2.05% |
| Salesforce | 1.95% |
| Top 10 holdings, total: | 34.38% |
| Top 10 holdings as of 10/31/23 | |
|---|---|
| 1: Microsoft Corp | 8.03% |
| 2: Apple | 4.68% |
| 3: Alphabet | 4.07% |
| 4: Amazon.Com | 3.87% |
| 5: Nvidia Corp | 2.93% |
| 6: Oracle Corp | 2.51% |
| 7: Meta Platforms | 2.16% |
| 8: Exxon Mobil Corp | 2.14% |
| 9: UnitedHealth Group | 2.05% |
| 10: Salesforce | 1.95% |
| Holdings represent 34.38% of portfolio | |
| Top 10 holdings as of 09/30/23 | |
|---|---|
| 1: Microsoft Corp | 7.32% |
| 2: Apple | 4.58% |
| 3: Alphabet | 4.14% |
| 4: Amazon.Com | 3.48% |
| 5: Nvidia Corp | 3.05% |
| 6: Oracle Corp | 2.51% |
| 7: Exxon Mobil Corp | 2.33% |
| 8: Meta Platforms | 2.13% |
| 9: Salesforce | 1.92% |
| 10: UnitedHealth Group | 1.90% |
| Holdings represent 33.35% of portfolio | |
| Top 10 holdings as of 08/31/23 | |
|---|---|
| 1: Microsoft Corp | 7.24% |
| 2: Apple | 4.80% |
| 3: Alphabet | 4.19% |
| 4: Amazon.Com | 3.65% |
| 5: Nvidia Corp | 3.30% |
| 6: Oracle Corp | 2.72% |
| 7: Exxon Mobil Corp | 2.10% |
| 8: Meta Platforms | 2.03% |
| 9: Mastercard | 1.96% |
| 10: Home Depot | 1.85% |
| Holdings represent 33.85% of portfolio | |
| Top 10 holdings as of 07/31/23 | |
|---|---|
| 1: Microsoft Corp | 7.34% |
| 2: Apple | 4.96% |
| 3: Alphabet | 3.91% |
| 4: Amazon.Com | 3.25% |
| 5: Nvidia Corp | 3.09% |
| 6: Oracle Corp | 2.62% |
| 7: Meta Platforms | 2.51% |
| 8: Exxon Mobil Corp | 2.01% |
| 9: Mastercard | 1.86% |
| 10: Home Depot | 1.85% |
| Holdings represent 33.41% of portfolio | |
Portfolio Composition as of 10/31/23
| Common stock | 97.35% |
| Cash and net other assets | 2.65% |
Consider these risks before investing: 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.
Sector weightings as of 10/31/23
| Information technology | 26.68% |
|---|---|
| Health care | 14.41% |
| Financials | 11.51% |
| Consumer discretionary | 10.65% |
| Communication services | 8.67% |
| Industrials | 7.11% |
| Consumer staples | 6.57% |
| Energy | 4.67% |
| Materials | 3.31% |
| Other | 6.40% |
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