Putnam Capital Manager

Putnam Sustainable Leaders Subaccount

The subaccount seeks long-term capital appreciation.

Fund description

The subaccount invests in companies of all sizes across a range of industry sectors. The management team looks for stocks of innovative companies that are positioned in sectors believed to offer exceptional growth potential. The fund targets companies with strong management and superior financial characteristics.

Sales story

Investing in growing companies committed to sustainable practicesCommitted companies: The fund invests in growth companies with the goal of delivering positive financial and ESG performance.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. 48% 33/68
1 yr. 32% 26/82
3 yrs. 31% 25/82
5 yrs. 36% 29/81

The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 09/30/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 67
Turnover (fiscal year end) 63%
Net Assets $759M
Inception Date 05/02/94

Holdings

Top 10 holdings as of 08/31/19

Microsoft Corp 6.74%
Visa 4.46%
Apple 3.87%
Danaher Corp 3.55%
Amazon.Com 3.46%
Unilever Nv 3.33%
Adobe 2.99%
Alphabet 2.78%
Home Depot The 2.62%
Blackrock 2.33%
Top 10 holdings, total: 36.13%

Full Portfolio Holdings as of 09/30/19

MICROSOFT CORP SEDOL 2588173 6.80%
APPLE INC SEDOL 2046251 4.15%
VISA INC-CLASS A SHARES SEDOL B2PZN04 3.80%
AMAZON.COM INC SEDOL 2000019 3.39%
UNILEVER NV SEDOL B1527V7 3.23%
ADOBE INC SEDOL 2008154 2.91%
HOME DEPOT INC SEDOL 2434209 2.66%
DANAHER CORP SEDOL 2250870 2.59%
BANK OF AMERICA CORP SEDOL 2295677 2.47%
BLACKROCK INC SEDOL 2494504 2.46%
WALMART INC SEDOL 2936921 2.10%
SALESFORCE.COM INC SEDOL 2310525 2.10%
HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 2.00%
NOVOZYMES A/S-B SHARES SEDOL B798FW0 1.89%
BECTON DICKINSON AND CO SEDOL 2087807 1.87%
ALPHABET INC-CL C SEDOL BYY88Y7 1.85%
NXP SEMICONDUCTORS NV SEDOL B505PN7 1.84%
HONEYWELL INTERNATIONAL INC SEDOL 2020459 1.82%
FIDELITY NATIONAL INFO SERV SEDOL 2769796 1.82%
CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 1.81%
ACCENTURE PLC-CL A SEDOL B4BNMY3 1.79%
LINDE PLC SEDOL BZ12WP8 1.77%
AES CORP SEDOL 2002479 1.76%
HASBRO INC SEDOL 2414580 1.64%
AXA SA SEDOL 7088429 1.62%
THERMO FISHER SCIENTIFIC INC SEDOL 2886907 1.57%
HEINEKEN NV SEDOL 7792559 1.54%
KONINKLIJKE DSM NV SEDOL B0HZL93 1.50%
NEXTERA ENERGY INC SEDOL 2328915 1.38%
ROPER TECHNOLOGIES INC SEDOL 2749602 1.36%
JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 1.35%
COOPER COS INC/THE SEDOL 2222631 1.32%
TEXAS INSTRUMENTS INC SEDOL 2885409 1.31%
BALL CORP SEDOL 2073022 1.30%
DOCUSIGN INC SEDOL BFYT7B7 1.28%
VERTEX PHARMACEUTICALS INC SEDOL 2931034 1.28%
LOWES COMPANIES INC 1.27%
SERVICENOW INC SEDOL B80NXX8 1.24%
UNION PACIFIC CORP SEDOL 2914734 1.22%
MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 1.20%
STANLEY BLACK & DECKER INC SEDOL B3Q2FJ4 1.18%
PRUDENTIAL PLC SEDOL 0709954 1.16%
ON SEMICONDUCTOR CORP SEDOL 2583576 1.09%
ADIDAS AG SEDOL 4031976 1.04%
ALPHABET INC-CL A SEDOL BYVY8G0 1.00%
VAIL RESORTS INC SEDOL 2954194 0.99%
TALEND SA - ADR SEDOL BD39HN6 0.98%
PENUMBRA INC SEDOL BZ0V201 0.91%
WEBSTER FINANCIAL CORP SEDOL 2945143 0.84%
TJX COMPANIES INC SEDOL 2989301 0.77%
OKTA INC SEDOL BDFZSP1 0.76%
LEVI STRAUSS & CO- CLASS A SEDOL BHRWS81 0.74%
ETSY INC SEDOL BWTN5N1 0.71%
FIRST SOLAR INC SEDOL B1HMF22 0.68%
FIRST REPUBLIC BANK/CA SEDOL B4WHY15 0.63%
ASML HOLDING NV-NY REG SHS SEDOL B908F01 0.61%
PINTEREST INC- CLASS A SEDOL BJ2Z0H2 0.58%
ECOLAB INC SEDOL 2304227 0.57%
KROGER CO SEDOL 2497406 0.56%
AMGEN INC SEDOL 2023607 0.50%
EQT AB SEDOL BJ7W9K4 0.39%
ULTA BEAUTY INC SEDOL B28TS42 0.37%
OPORTUN FIN CORP P/P 0.16%
EUR/USD 12/18/2019 JPMCB 0.01%
EUR/USD 12/18/2019 UBS 0.01%
EUR/USD 12/18/2019 SSBT 0.00%
GLOBAL FASHION GRP P/P 0.00%
GBP/USD 12/18/2019 BCAP-FX 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%
GBP/USD 12/18/2019 BANKAM -0.00%

Prior top 10 holdings

Top 10 holdings as of 08/31/19
1: Microsoft Corp 6.74%
2: Visa 4.46%
3: Apple 3.87%
4: Danaher Corp 3.55%
5: Amazon.Com 3.46%
6: Unilever Nv 3.33%
7: Adobe 2.99%
8: Alphabet 2.78%
9: Home Depot The 2.62%
10: Blackrock 2.33%
Holdings represent 36.13% of portfolio
Top 10 holdings as of 07/31/19
1: Microsoft Corp 7.01%
2: Visa 4.25%
3: Amazon.Com 3.99%
4: Apple 3.81%
5: Danaher Corp 3.39%
6: Adobe 3.25%
7: Unilever Nv 2.99%
8: Alphabet 2.75%
9: Novozymes A/S - B Shares 2.61%
10: Blackrock 2.50%
Holdings represent 36.55% of portfolio
Top 10 holdings as of 06/30/19
1: Microsoft Corp 6.90%
2: Visa 4.15%
3: Amazon.Com 4.06%
4: Adobe 3.59%
5: Apple 3.55%
6: Danaher Corp 3.45%
7: Unilever Nv 3.03%
8: Novozymes A/S - B Shares 2.63%
9: Blackrock 2.51%
10: Alphabet 2.45%
Holdings represent 36.32% of portfolio
Top 10 holdings as of 05/31/19
1: Microsoft Corp 6.73%
2: Visa 4.08%
3: Amazon.Com 4.02%
4: Adobe 3.49%
5: Danaher Corp 3.37%
6: Apple 3.32%
7: Unilever Nv 3.17%
8: Novozymes A/S - B Shares 2.80%
9: Alphabet 2.64%
10: Salesforce.Com 2.57%
Holdings represent 36.19% of portfolio

Portfolio Composition as of 08/31/19

Common stock 98.46%
Cash and net other assets 1.40%
Convertible preferred stock 0.14%

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.

The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 08/31/19

Information technology 33.87%
Consumer discretionary 17.13%
Health care 10.68%
Consumer staples 8.63%
Financials 7.81%
Materials 7.66%
Industrials 6.84%
Communication services 3.53%
Utilities 2.45%
 
Other
1.40%
Cash and net other assets 1.40%