Putnam Capital Manager

Putnam Large Cap Value Subaccount

The subaccount seeks capital growth and current income.

Fund description

The subaccount employs Putnam's value strategy, investing primarily in stocks of large companies with underappreciated fundamentals and income potential from growing dividends. The portfolio managers pursue returns for investors across the U.S. equity universe.

Sales story

A multidimensional approach to value investingA relative-value focus The fund focuses on large companies whose stocks are priced below their long-term potential, and where there may be a catalyst for positive change.Dividend growth The fund places a distinct emphasis on companies that can grow their dividends and are able and willing to return cash to shareholders.A disciplined process The portfolio managers invest using fundamental research and quantitative tools supported by strong risk controls in portfolio construction.

Management team

Lipper ranking ‡ as of 08/31/21

Category: Large-Cap Value Funds

  Percentile ranking Rank/Funds in category
10 yrs. 7% 4/62
1 yr. 34% 24/71
3 yrs. 16% 11/71
5 yrs. 11% 7/68

Risk Characteristics as of 08/31/21

Alpha (%) 1.94
Beta 0.99
R squared 0.98
Standard deviation (3 yrs.) 19.76

‡ 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 08/31/21

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 80
Turnover (fiscal year end) 20%
Net Assets $1,663M
Inception Date 05/01/03

Holdings

Microsoft Corp 3.51%
Bank Of America Corp 3.49%
JPMorgan Chase 3.29%
Citigroup 2.87%
Walmart 2.55%
Regeneron Pharmaceuticals 2.23%
Johnson & Johnson 1.92%
Charter Communications 1.88%
AbbVie 1.88%
Danaher Corp 1.81%
Top 10 holdings, total: 25.43%


Top 10 holdings as of 08/31/21
1: Microsoft Corp 3.51%
2: Bank Of America Corp 3.49%
3: JPMorgan Chase 3.29%
4: Citigroup 2.87%
5: Walmart 2.55%
6: Regeneron Pharmaceuticals 2.23%
7: Johnson & Johnson 1.92%
8: Charter Communications 1.88%
9: AbbVie 1.88%
10: Danaher Corp 1.81%
Holdings represent 25.43% of portfolio
Top 10 holdings as of 07/31/21
1: Microsoft Corp 3.39%
2: Bank Of America Corp 3.28%
3: JPMorgan Chase 3.19%
4: Citigroup 2.76%
5: Walmart 2.51%
6: General Motors 2.03%
7: Johnson & Johnson 1.95%
8: Regeneron Pharmaceuticals 1.94%
9: AbbVie 1.85%
10: Freeport-Mcmoran 1.82%
Holdings represent 24.72% of portfolio
Top 10 holdings as of 06/30/21
1: Bank of America 3.52%
2: JPMorgan Chase 3.26%
3: Microsoft 3.22%
4: Citigroup 2.89%
5: Walmart 2.47%
6: General Motors 2.11%
7: Regeneron Pharmaceuticals 1.88%
8: Johnson & Johnson 1.86%
9: T-Mobile Us 1.81%
10: AbbVie 1.79%
Holdings represent 24.81% of portfolio
Top 10 holdings as of 05/31/21
1: Bank Of America Corp 3.59%
2: JPMorgan Chase 3.42%
3: Citigroup 3.19%
4: Microsoft Corp 2.95%
5: Walmart 2.47%
6: Freeport-Mcmoran 2.30%
7: General Motors 2.10%
8: Southwest Airlines 1.95%
9: Johnson&Johnson 1.90%
10: Abbvie 1.78%
Holdings represent 25.65% of portfolio


Portfolio Composition as of 08/31/21

Common stock 96.38%
Cash and net other assets 2.04%
Convertible preferred stock 1.58%

Consider these risks before investing: Value stocks may fail to rebound, and the market may not favor value-style investing. Income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the fund invests. 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.

Top Industry Sectors as of 08/31/21

Financials 19.80%
Health care 16.26%
Industrials 11.51%
Information technology 9.98%
Consumer discretionary 7.18%
Consumer staples 7.11%
Materials 6.04%
Communication services 5.92%
Energy 5.78%
 
Other
10.42%
Utilities 5.04%
Real estate 3.34%
Cash and net other assets 2.04%