‡ 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 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
- Darren A. Jaroch, CFA (Investing since 1996)
- Lauren B. DeMore, CFA (Investing since 2002)
Lipper ranking ‡ as of 02/28/23
Category: Large-Cap Value Funds
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 12% | 7/61 |
| 1 yr. | 6% | 4/73 |
| 3 yrs. | 11% | 8/72 |
| 5 yrs. | 13% | 9/70 |
Risk Characteristics as of 02/28/23
| Alpha (%) | 3.98 |
| Beta | 0.97 |
| R squared | 0.99 |
| Standard deviation (3 yrs.) | 20.14 |
Quick facts as of 02/28/23
| Fiscal Year End | December |
| Asset Class | Putnam Capital Manager |
| Subaccount Status | Open to new investors |
| Number of issues | 71 |
| Turnover (fiscal year end) | 14% |
| Net Assets | $1,570M |
| Inception Date | 05/01/03 |
Holdings
| Exxon Mobil Corp | 3.56% |
| Meta Platforms | 3.34% |
| Bank Of America Corp | 2.70% |
| Microsoft Corp | 2.69% |
| Walmart | 2.64% |
| Regeneron Pharmaceuticals | 2.35% |
| Goldman Sachs Group The | 2.28% |
| Oracle Corp | 2.15% |
| Qualcomm | 2.08% |
| Freeport-Mcmoran | 2.05% |
| Top 10 holdings, total: | 25.84% |
| Top 10 holdings as of 02/28/23 | |
|---|---|
| 1: Exxon Mobil Corp | 3.56% |
| 2: Meta Platforms | 3.34% |
| 3: Bank Of America Corp | 2.70% |
| 4: Microsoft Corp | 2.69% |
| 5: Walmart | 2.64% |
| 6: Regeneron Pharmaceuticals | 2.35% |
| 7: Goldman Sachs Group The | 2.28% |
| 8: Oracle Corp | 2.15% |
| 9: Qualcomm | 2.08% |
| 10: Freeport-Mcmoran | 2.05% |
| Holdings represent 25.84% of portfolio | |
| Top 10 holdings as of 01/31/23 | |
|---|---|
| 1: Exxon Mobil Corp | 3.66% |
| 2: Meta Platforms | 2.77% |
| 3: Bank Of America Corp | 2.71% |
| 4: Microsoft Corp | 2.61% |
| 5: Walmart | 2.60% |
| 6: Goldman Sachs Group The | 2.31% |
| 7: Regeneron Pharmaceuticals | 2.28% |
| 8: Qualcomm | 2.18% |
| 9: Freeport-Mcmoran | 2.17% |
| 10: Oracle Corp | 2.12% |
| Holdings represent 25.41% of portfolio | |
| Top 10 holdings as of 12/31/22 | |
|---|---|
| 1: Microsoft Corp | 3.15% |
| 2: Exxon Mobil Corp | 2.84% |
| 3: Walmart | 2.68% |
| 4: Bank Of America Corp | 2.64% |
| 5: Northrop Grumman Corp | 2.28% |
| 6: Regeneron Pharmaceuticals | 2.27% |
| 7: Goldman Sachs | 2.26% |
| 8: Merck | 2.16% |
| 9: Mckesson Corp | 2.09% |
| 10: ConocoPhillips | 2.04% |
| Holdings represent 24.41% of portfolio | |
| Top 10 holdings as of 11/30/22 | |
|---|---|
| 1: Microsoft Corp | 3.19% |
| 2: Bank Of America Corp | 2.87% |
| 3: Walmart | 2.74% |
| 4: Exxon Mobil Corp | 2.73% |
| 5: Goldman Sachs | 2.42% |
| 6: Regeneron Pharmaceuticals | 2.25% |
| 7: Northrop Grumman Corp | 2.12% |
| 8: Merck | 2.04% |
| 9: ConocoPhillips | 2.03% |
| 10: Mckesson Corp | 2.02% |
| Holdings represent 24.41% of portfolio | |
Portfolio Composition as of 02/28/23
| Common stock | 96.28% |
| Cash and net other assets | 2.48% |
| Convertible preferred stock | 1.24% |
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 fundâs 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 fundâs 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 fundâs 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 02/28/23
| Financials | 17.66% |
|---|---|
| Health care | 16.86% |
| Industrials | 10.57% |
| Materials | 8.54% |
| Energy | 8.39% |
| Information technology | 8.05% |
| Consumer discretionary | 6.97% |
| Communication services | 6.78% |
| Consumer staples | 6.41% |
| Other | 9.77% |
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