Putnam Capital Manager

Putnam Sustainable Future Subaccount

The subaccount seeks long-term capital appreciation.

Fund description

The subaccount employs a value strategy to identify undervalued, high-quality companies among the market's mid-cap offerings. The subaccount's managers seek stocks they believe have been under-estimated by the market. They target profitable, established companies of two kinds: smaller companies that have grown to midsize, and larger companies that have fallen out of favor temporarily but are expected to recover.

Sales story

Investing in growing companies solving sustainability challengesImpact companies: The fund invests in growth companies that directly demonstrate positive impact in social, environmental, or economic development.Active strategy: The managers utilize bottom-up research to identify companies with attractive sustainability, fundamental, and valuation characteristics.Veteran team: A dedicated sustainable investing team is backed by Putnam's equity research and quantitative/risk analysis groups.

Management team

Lipper ranking ‡ as of 08/31/19

Category: Multi-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 93% 64/68
1 yr. 66% 54/82
3 yrs. 94% 78/82
5 yrs. 92% 75/81

Risk Characteristics as of 08/31/19

Alpha (%) -0.91
Beta 0.89
R squared 0.94
Standard deviation (3 yrs.) 13.05

The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.

‡ 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 63
Turnover (fiscal year end) 99%
Net Assets $32M
Inception Date 05/01/03

Holdings

Top 10 holdings as of 08/31/19

Danaher Corp 4.93%
Salesforce.Com 4.53%
Mastercard 3.81%
Mccormick Md 3.76%
Unilever 3.24%
Chipotle Mexican Grill 3.20%
Vail Resorts 3.04%
Adobe 2.96%
Everbridge 2.78%
Novozymes A/S - B Shares 2.39%
Top 10 holdings, total: 34.64%

Full Portfolio Holdings as of 06/30/19

DANAHER CORP 4.72%
SALESFORCE.COM INC 4.19%
MCCORMICK & CO-NON VTG SHRS 3.80%
MASTERCARD INC - A 3.41%
NOVOZYMES A/S-B SHARES 3.25%
VAIL RESORTS INC 3.08%
UNILEVER PLC 3.04%
PENUMBRA INC 3.01%
FIRST REPUBLIC BANK/CA 2.93%
ADOBE INC 2.92%
EVERBRIDGE INC 2.84%
CHIPOTLE MEXICAN GRILL INC 2.67%
TELADOC HEALTH INC 2.51%
BLACKROCK INC 2.46%
ADIDAS AG 2.28%
WEBSTER FINANCIAL CORP 2.23%
BECTON DICKINSON AND CO 2.14%
PRUDENTIAL PLC 1.93%
CHR HANSEN HOLDING A/S 1.91%
EDWARDS LIFESCIENCES CORP 1.90%
NEXTERA ENERGY INC 1.89%
FORTIVE CORP 1.89%
ALPHABET INC-CL A 1.83%
BALL CORP 1.79%
DOCUSIGN INC 1.76%
ON SEMICONDUCTOR CORP 1.55%
FIRST SOLAR INC 1.39%
NXP SEMICONDUCTORS NV 1.35%
VERTEX PHARMACEUTICALS INC 1.32%
MSCI INC 1.26%
PINTEREST INC- CLASS A 1.24%
SUNRUN INC 1.20%
INTERFACE INC 1.16%
GODADDY INC - CLASS A 1.16%
TALEND SA - ADR 1.14%
APPLIED MATERIALS INC 1.14%
EURAZEO SE 1.13%
HEALTHEQUITY INC 1.12%
JAZZ PHARMACEUTICALS PLC 1.12%
PLURALSIGHT INC - A 1.11%
BANDWIDTH INC-CLASS A 1.10%
BIO-RAD LABORATORIES-A 1.08%
SENSIENT TECHNOLOGIES CORP 1.07%
DXC TECHNOLOGY CO 1.05%
ASML HOLDING NV-NY REG SHS 0.91%
THERMO FISHER SCIENTIFIC INC 0.82%
TREX COMPANY INC 0.81%
PVH CORP 0.79%
GALAPAGOS NV-SPON ADR 0.72%
ECOLAB INC 0.70%
OWENS CORNING 0.51%
MEDICINES COMPANY 0.51%
BLUEBIRD BIO INC 0.48%
TJX COMPANIES INC 0.46%
STITCH FIX INC-CLASS A 0.33%
CROWDSTRIKE HOLDINGS INC - A 0.29%
ORCHARD THERAPEUTICS PLC 0.27%
CLOVIS ONCOLOGY INC 0.16%
GBP/USD 09/18/2019 BANKAM 0.00%
EUR/USD 09/18/2019 JPMCB -0.00%
GBP/USD 09/18/2019 BCAP-FX -0.00%
EUR/USD 09/18/2019 BANKAM -0.01%

Prior top 10 holdings

Top 10 holdings as of 08/31/19
1: Danaher Corp 4.93%
2: Salesforce.Com 4.53%
3: Mastercard 3.81%
4: Mccormick Md 3.76%
5: Unilever 3.24%
6: Chipotle Mexican Grill 3.20%
7: Vail Resorts 3.04%
8: Adobe 2.96%
9: Everbridge 2.78%
10: Novozymes A/S - B Shares 2.39%
Holdings represent 34.64% of portfolio
Top 10 holdings as of 07/31/19
1: Danaher Corp 4.61%
2: Salesforce.Com 4.24%
3: Mccormick Md 3.86%
4: Mastercard 3.49%
5: Vail Resorts 3.38%
6: Everbridge 3.22%
7: Novozymes A/S - B Shares 3.21%
8: Penumbra 3.13%
9: Adobe 2.94%
10: Unilever 2.92%
Holdings represent 35.00% of portfolio
Top 10 holdings as of 06/30/19
1: Danaher Corp 4.72%
2: Salesforce.Com 4.19%
3: Mccormick Md 3.81%
4: Mastercard 3.41%
5: Novozymes A/S - B Shares 3.25%
6: Vail Resorts 3.08%
7: Unilever 3.04%
8: Penumbra 3.01%
9: First Republic Bank/Ca 2.93%
10: Adobe 2.92%
Holdings represent 34.36% of portfolio
Top 10 holdings as of 05/31/19
1: Danaher Corp 4.54%
2: Salesforce.Com 4.35%
3: Mccormick Md 3.99%
4: Novozymes A/S - B Shares 3.41%
5: Mastercard 3.37%
6: Adobe 3.17%
7: Unilever 3.10%
8: Vail Resorts 3.09%
9: First Republic Bank/Ca 3.02%
10: Everbridge 2.87%
Holdings represent 34.91% of portfolio

Portfolio Composition as of 08/31/19

Common stock 98.25%
Cash and net other assets 1.75%

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.

The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.

Top Industry Sectors as of 08/31/19

Information technology 26.37%
Health care 22.37%
Consumer discretionary 10.59%
Financials 9.98%
Materials 7.83%
Consumer staples 7.00%
Industrials 6.89%
Communication services 5.10%
Utilities 2.12%
 
Other
1.75%
Cash and net other assets 1.75%