Putnam Capital Manager

Putnam Growth Opportunities Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in large U.S. companies with strong revenue and earnings growth prospects. Members of the management team target established companies that are believed to be leaders in their industries with the potential to grow rapidly. The fund's portfolio typically includes world-renowned businesses whose size and scale give them a competitive advantage.

Sales story

Seeking to harness the growth potential of large U.S. companiesSeeks above-average growth: The fund focuses on businesses that exhibit both a high level of growth and an above-average duration of growth.A thematic approach: The portfolio managers combine top-down investment themes with bottom-up research to select securities that can benefit from growth trends.Rigorous analysis: Backed by fundamental research, the managers focus on identifying management teams that act like owners.

Management team

Lipper ranking ‡ as of 05/31/19

Category: Large-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 19% 30/160
1 yr. 5% 9/202
3 yrs. 6% 11/190
5 yrs. 28% 52/185

Risk Characteristics as of 05/31/19

Alpha (%) 3.42
Beta 0.98
R squared 0.96
Standard deviation (3 yrs.) 12.92

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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. Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

‡ 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 56
Turnover (fiscal year end) 56%
Net Assets $813M
Inception Date 02/01/00

Holdings

Top 10 holdings as of 05/31/19

Microsoft Corp 8.55%
Alphabet 5.94%
Amazon.Com 5.73%
Apple 4.55%
Visa 4.06%
Paypal Holdings 3.36%
UnitedHealth Group 3.31%
Mastercard 2.71%
American Tower Corp 2.47%
Salesforce.Com 2.45%
Top 10 holdings, total: 43.13%

Full Portfolio Holdings as of 03/31/19

MICROSOFT CORP 8.29%
ALPHABET INC-CL C 6.51%
APPLE INC 5.57%
AMAZON.COM INC 4.61%
VISA INC-CLASS A SHARES 4.06%
PAYPAL HOLDINGS INC 3.26%
UNITEDHEALTH GROUP INC 3.03%
SALESFORCE.COM INC 2.60%
AMERICAN TOWER CORP 2.36%
LINDE PLC 2.31%
DANAHER CORP 2.27%
HOME DEPOT INC 2.16%
UNION PACIFIC CORP 2.11%
CHARTER COMMUNICATIONS INC-A 2.01%
HONEYWELL INTERNATIONAL INC 1.97%
INTERCONTINENTAL EXCHANGE IN 1.94%
NIKE INC -CL B 1.84%
ADOBE INC 1.80%
SHERWIN-WILLIAMS CO/THE 1.78%
COSTAR GROUP INC 1.75%
LIVE NATION ENTERTAINMENT IN 1.69%
WORLDPAY INC-CLASS A 1.66%
MCCORMICK & CO-NON VTG SHRS 1.65%
BOOKING HOLDINGS INC 1.63%
SERVICENOW INC 1.57%
WASTE CONNECTIONS INC 1.54%
BOEING CO/THE 1.50%
FORTIVE CORP 1.45%
FACEBOOK INC-CLASS A 1.41%
METTLER-TOLEDO INTERNATIONAL 1.37%
IDEXX LABORATORIES INC 1.34%
TRANSDIGM GROUP INC 1.30%
TEXAS INSTRUMENTS INC 1.23%
INTUITIVE SURGICAL INC 1.20%
RAYTHEON COMPANY 1.15%
VERTEX PHARMACEUTICALS INC 1.13%
LULULEMON ATHLETICA INC 1.00%
LONZA GROUP AG-REG 0.97%
ROPER TECHNOLOGIES INC 0.97%
NETFLIX INC 0.95%
REALPAGE INC 0.93%
BIOMARIN PHARMACEUTICAL INC 0.90%
DOCUSIGN INC 0.86%
BECTON DICKINSON AND CO 0.85%
WALMART INC 0.84%
T-MOBILE US INC 0.79%
PRUDENTIAL PLC 0.74%
OKTA INC 0.72%
UBER TECH INC P/P CV PFD 0.66%
ICU MEDICAL INC 0.63%
BOSTON SCIENTIFIC CORP 0.60%
NXP SEMICONDUCTORS NV 0.36%
OPORTUN FIN CORP P/P 0.25%
GLOBAL FASHION GRP P/P 0.05%
RESIDEO TECHNOLOGIES INC 0.01%
S&P500 EMINI FUT JUN19 ESM9 0.01%
GBP/USD 06/19/2019 BANKAM 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
POUND STERLING CALL ACCOUNT -0.18%

Prior top 10 holdings

Top 10 holdings as of 05/31/19
1: Microsoft Corp 8.55%
2: Alphabet 5.94%
3: Amazon.Com 5.73%
4: Apple 4.55%
5: Visa 4.06%
6: Paypal Holdings 3.36%
7: UnitedHealth Group 3.31%
8: Mastercard 2.71%
9: American Tower Corp 2.47%
10: Salesforce.Com 2.45%
Holdings represent 43.13% of portfolio
Top 10 holdings as of 04/30/19
1: Microsoft Corp 8.63%
2: Alphabet 6.19%
3: Apple 5.43%
4: Amazon.Com 4.96%
5: Visa 4.02%
6: Paypal Holdings 3.28%
7: UnitedHealth Group 3.06%
8: Salesforce.Com 2.61%
9: American Tower Corp 2.25%
10: Linde 2.19%
Holdings represent 42.62% of portfolio
Top 10 holdings as of 03/31/19
1: Microsoft Corp 8.29%
2: Alphabet 6.51%
3: Apple 5.57%
4: Amazon.Com 4.61%
5: Visa 4.06%
6: Paypal Holdings 3.26%
7: UnitedHealth Group 3.03%
8: Salesforce.Com 2.60%
9: American Tower Corp 2.36%
10: Linde 2.31%
Holdings represent 42.60% of portfolio
Top 10 holdings as of 02/28/19
1: Microsoft Corp 8.01%
2: Alphabet 6.32%
3: Apple 5.15%
4: Amazon.Com 4.25%
5: Visa 3.92%
6: Paypal Holdings 3.13%
7: Boeing The 3.11%
8: UnitedHealth Group 2.79%
9: Salesforce.Com 2.69%
10: American Tower Corp 2.42%
Holdings represent 41.79% of portfolio

Portfolio Composition as of 05/31/19

Common stock 99.10%
Convertible preferred stock 0.50%
Cash and net other assets 0.40%

Portfolio characteristics will vary over time. The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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. Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

Top Industry Sectors as of 05/31/19

Information technology 35.55%
Communication services 14.09%
Consumer discretionary 13.09%
Industrials 13.06%
Health care 11.72%
Materials 3.84%
Financials 3.15%
Consumer staples 2.63%
Real estate 2.47%
 
Other
0.40%
Cash and net other assets 0.40%