Multi-Cap Core Fund (Class Y)  (PMYYX)

Seeking opportunities across a wide range of stocks


Track this fund

Highlights

Objective

The fund seeks capital appreciation.

Strategy and process

  • "Go anywhere" approach: The fund invests in stocks of U.S. companies of all sizes and has the flexibility to own both growth and value stocks.
  • A disciplined process: The portfolio managers use a disciplined, fundamental investment process with three buckets of idea generation: legacy companies, smart-money indicators, and special situations.
  • Research focus: Backed by an Equity Research team, the portfolio managers use their stock-picking expertise to identify opportunities and manage risk.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $23.03
-0.82% | $-0.19
$24.73
01/26/18
$19.88
04/21/17
Historical fund price

Consistency of positive performance over five years

Performance represents 5-year returns in rolling quarter-end periods since inception.

Performance shown does not reflect the effects of any sales charges. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please click on the performance tab.

17.25%

Best 5-year annualized return

(for period ending 09/30/16)


11.28%

Worst 5-year annualized return

(for period ending 03/31/16)


14.80%

Average 5-year annualized return


Fund facts as of 03/31/18

Total net assets
$625.41M
Turnover (fiscal year end)
76%
Dividend frequency
Annually
Number of holdings
153
Fiscal year-end
April
CUSIP / Fund code
74676P839 / 1876
Inception date
09/24/10
Category
Blend
Open to new investors
Ticker
PMYYX

Management team

Portfolio Manager
Portfolio Manager, Analyst


Manager commentary | Q4 2017

Tax reform could add to GDP

Portfolio Manager Jerry Sullivan explains why he believes the tax reform law may help the economy.


Literature

Fund documents

Fact Sheet (Y share) (PDF)
Prospectus (PDF)
Annual Report (PDF)
Semiannual Report (PDF)
Proxy voting results (Form N-PX) (PDF)
Quarterly commentary (PDF)
Equity Outlook (PDF)
Comparing Putnam's U.S. equity funds (PDF)
The benefits of multi-cap investing (PDF)

Market surprises can favor the prepared
While companies strive to meet market expectations, it's often the unexpected changes in markets that can create opportunities for active managers.

Performance

  • Total return (%) as of 03/31/18

  • Annual performance as of 03/31/18

Annualized Total return (%) as of 03/31/18

Annualized performance 1 yr. 3 yrs. 5 yrs. Life (inception: 09/24/10 )
Before sales charge 16.53% 10.11% 14.42% 15.97%
After sales charge N/A N/A N/A N/A
Russell 3000 Index 13.81% 10.22% 13.03% --

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit putnam.com. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Absolute Return 500 Fund and 700 Fund, and 4.00% and 3.25% for income funds (1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T1, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A, M, and T1 shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.

Performance snapshot

  Before sales charge After sales charge
1 mt. as of 03/31/18 -2.57 % -
YTD as of 04/20/18 0.52 % -

Risk-adjusted performance as of 03/31/18

Alpha (3 yrs.) -0.71
Sharpe ratio (3 yrs.) 0.86
Treynor ratio (3 yrs.) 9.09
Information ratio (3 yrs.) -0.04

Volatility as of 03/31/18

Standard deviation (3 yrs.) 11.17%
Beta 1.06
R-squared 0.94

Capture ratio as of 03/31/18

Up-market (3 yrs.) 105.26
Down-market (3 yrs.) 111.60

Lipper rankings as of 03/31/18

Multi-Cap Core Funds Percentile ranking Rank/Funds in category
1 yr. 16% 116/767
3 yrs. 18% 114/646
5 yrs. 2% 6/567
10 yrs.   --

Morningstar ratings as of 03/31/18

Large Blend Rating Funds in category
Overall (1204)
3 yrs. (1204)
5 yrs. (1077)

Distributions

Record/Ex dividend date 12/06/17
Payable date 12/08/17
Income $0.331
Extra income --
Short-term cap. gain --
Long-term cap. gain $0.29

Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.


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See how this fund compares:

  • Putnam Multi-Cap Core Fund vs.
  • Vanguard Total Stock Market Idx**

Trailing 5 year performance

** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.

** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.


Holdings

Top 10 holdings as of 03/31/18

Microsoft Corp 3.70%
JPMorgan Chase 2.55%
Bank Of America Corp 2.53%
Apple 2.47%
Alphabet 2.24%
Citigroup 2.03%
Walmart 1.65%
Pfizer 1.64%
Cisco Systems 1.54%
Goldman Sachs Group The 1.39%
Top 10 holdings, percent of portfolio 21.74%

Full portfolio holdings as of 12/31/17

MICROSOFT CORP 3.60%
BANK OF AMERICA CORP 2.52%
APPLE INC 2.47%
JPMORGAN CHASE & CO 2.44%
CITIGROUP INC 2.25%
WAL-MART STORES INC 1.84%
ALPHABET INC-CL A 1.53%
CISCO SYSTEMS INC 1.26%
MORGAN STANLEY 1.25%
JOHNSON & JOHNSON 1.24%
ROYAL DUTCH SHELL-SPON ADR-A 1.24%
AMGEN INC 1.20%
BOEING CO/THE 1.18%
GOLDMAN SACHS GROUP INC 1.16%
VISA INC-CLASS A SHARES 0.98%
AMAZON.COM INC 0.97%
HOME DEPOT INC 0.92%
AT&T INC 0.90%
FACEBOOK INC-A 0.90%
COMCAST CORP-CLASS A 0.89%
AMERIPRISE FINANCIAL INC 0.86%
FREEPORT-MCMORAN INC 0.85%
PULTEGROUP INC 0.84%
CATERPILLAR INC 0.83%
CF INDUSTRIES HOLDINGS INC 0.83%
LAM RESEARCH CORP 0.83%
TEXAS INSTRUMENTS INC 0.82%
ANTHEM INC 0.81%
GILEAD SCIENCES INC 0.81%
CAPITAL ONE FINANCIAL CORP 0.80%
ALPHABET INC-CL C 0.77%
APPLIED MATERIALS INC 0.77%
BAXTER INTERNATIONAL INC 0.76%
CVS HEALTH CORP 0.76%
HUMANA INC 0.76%
ALCOA CORP 0.75%
DELL TECHNOLOGIES INC-CL V 0.74%
PFIZER INC 0.74%
UNITED RENTALS INC 0.73%
PENN NATIONAL GAMING INC 0.71%
CONOCOPHILLIPS 0.70%
EXELON CORP 0.70%
MARATHON OIL CORP 0.70%
INVESCO LTD 0.69%
LIVE NATION ENTERTAINMENT IN 0.69%
VALERO ENERGY CORP 0.68%
MICHAELS COS INC/THE 0.67%
LAS VEGAS SANDS CORP 0.65%
STATE STREET CORP 0.65%
BIOGEN INC 0.63%
WALT DISNEY CO/THE 0.63%
CHILDREN'S PLACE INC/THE 0.62%
ENTERGY CORP 0.62%
OWENS CORNING 0.62%
ABBVIE INC 0.61%
MCKESSON CORP 0.61%
PEPSICO INC 0.61%
SUNCOR ENERGY INC 0.61%
TERADYNE INC 0.61%
ENTERPRISE PRODUCTS PARTNERS 0.60%
DOWDUPONT INC 0.59%
DXC TECHNOLOGY CO 0.59%
MANPOWERGROUP INC 0.59%
WYNDHAM WORLDWIDE CORP 0.59%
DELTA AIR LINES INC 0.58%
HYATT HOTELS CORP - CL A 0.58%
TARGET CORP 0.58%
BEST BUY CO INC 0.57%
SOUTHWEST AIRLINES CO 0.57%
CBRE GROUP INC - A 0.56%
HCA HEALTHCARE INC 0.56%
SPIRIT AEROSYSTEMS HOLD-CL A 0.56%
HP INC 0.55%
LEAR CORP 0.55%
NORTHROP GRUMMAN CORP 0.55%
TOTAL SA-SPON ADR 0.55%
ASSURED GUARANTY LTD 0.54%
LINCOLN NATIONAL CORP 0.54%
NORFOLK SOUTHERN CORP 0.54%
NRG ENERGY INC 0.54%
RADIAN GROUP INC 0.54%
WASTE MANAGEMENT INC 0.54%
EXPRESS SCRIPTS HOLDING CO 0.53%
FEDEX CORP 0.53%
GENERAL MOTORS CO 0.53%
KROGER CO 0.53%
LOWES COMPANIES INC 0.53%
ORACLE CORP 0.53%
ADOBE SYSTEMS INC 0.52%
COCA-COLA CO/THE 0.52%
HANESBRANDS INC 0.52%
CIGNA CORP 0.51%
DEERE & CO 0.51%
GAP INC/THE 0.51%
JAZZ PHARMACEUTICALS PLC 0.51%
AMERICAN TOWER CORP 0.50%
BANK OF NEW YORK MELLON CORP 0.50%
CONVERGYS CORP 0.50%
BLOOMIN' BRANDS INC 0.49%
NOMAD FOODS LTD 0.49%
PLAYA HOTELS & RESORTS NV 0.48%
ROCKWELL AUTOMATION INC 0.48%
TELEPHONE AND DATA SYSTEMS 0.48%
WALGREENS BOOTS ALLIANCE INC 0.48%
BRISTOL-MYERS SQUIBB CO 0.47%
FGL HLDGS ORD SHS RESTRICTED 0.47%
OSHKOSH CORP 0.47%
AMERICAN INTERNATIONAL GROUP 0.46%
MCCORMICK & CO-NON VTG SHRS 0.46%
PIRELLI & C SPA 0.46%
XEROX CORP 0.46%
BIOVERATIV INC 0.44%
JABIL INC 0.42%
KKR & CO LP 0.42%
SUNTRUST BANKS INC 0.42%
ENCANA CORP 0.41%
EXPEDIA INC 0.41%
RED ROBIN GOURMET BURGERS 0.41%
US FOODS HOLDING CORP 0.41%
COSTCO WHOLESALE CORP 0.39%
TPG PACE HOLDINGS CORP 0.39%
FIRSTENERGY CORP 0.38%
MICRO FOCUS INTL-SPN ADR 0.38%
NCR CORPORATION 0.38%
ARCHER-DANIELS-MIDLAND CO 0.37%
BANDWIDTH INC-CLASS A 0.37%
AMERICAN AIRLINES GROUP INC 0.36%
ARMADA HOFFLER PROPERTIES IN 0.34%
TOTAL SYSTEM SERVICES INC 0.34%
VISTA OIL & GAS SAB DE CV 0.34%
EASTERLY ACQUISITION CORP 0.33%
KOMATSU LTD 0.33%
DELIVERY HERO AG 0.32%
EASTERLY GOVERNMENT PROPERTI 0.31%
SELECT ENERGY SVCS-A-1 0.31%
AIR CANADA 0.29%
BYLINE BANCORP INC 0.29%
CISION LTD 0.28%
KENNEDY-WILSON HOLDINGS INC 0.27%
J2 ACQUISITION LTD 0.26%
FEDERAL STREET ACQUISITION 0.23%
ALIGNVEST ACQUISITION II C-A 0.22%
LYONDELLBASELL INDU-CL A 0.21%
BECTON DICKINSON AND CO 06.1250 CV PFD 0.20%
PERRIGO CO PLC 0.20%
RANGER ENERGY SERVICES INC 0.20%
EASTMAN CHEMICAL CO 0.19%
HAYMAKER ACQUISITION CORP 0.13%
GORES HOLDINGS II INC 0.11%
J2 ACQUISITION LTD-CW20 0.02%
SANDRIDGE PERMIAN TRUST 0.02%
ALIGNVEST ACQUISITION - CW 0.01%
CISION LTD - CW22 0.01%
EASTERLY ACQ CORP - CW20 0.01%
VISTA OIL & GAS -CW22 0.01%
FABFURNISH GMBH P/P 0.00%
GLOBAL FASHION GRP P/P 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 0.00%

Prior top 10 holdings

Top 10 holdings as of 03/31/18
Microsoft Corp
JPMorgan Chase
Bank Of America Corp
Apple
Alphabet
Citigroup
Walmart
Pfizer
Cisco Systems
Goldman Sachs Group The
Holdings represent 21.74% of portfolio
Top 10 holdings as of 02/28/18
Microsoft Corp
Bank Of America Corp
JPMorgan Chase
Apple
Alphabet
Citigroup
Walmart
Cisco Systems
Boeing The
Goldman Sachs Group The
Holdings represent 21.24% of portfolio
Top 10 holdings as of 01/31/18
Microsoft
Bank of America
JPMorgan Chase
Alphabet
Apple
Citigroup
Walmart
Goldman Sachs Group The
Boeing The
Amgen
Holdings represent 21.11% of portfolio
Top 10 holdings as of 12/31/17
Microsoft Corp
Bank Of America Corp
Apple
JPMorgan Chase
Alphabet
Citigroup
Wal-Mart Stores
Cisco Systems
Morgan Stanley
Johnson & Johnson
Holdings represent 21.17% of portfolio

Portfolio composition as of 03/31/18

Common stock 95.10%
Cash and net other assets 4.72%
Convertible preferred stock 0.18%

Equity statistics as of 03/31/18

Median market cap $24.84B
Weighted average market cap $164.58B
Price to book 2.64
Price to earnings 14.08

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific issuer or industry. You can lose money by investing in the fund.

Top Industry Sectors as of 03/31/18

Information technology 21.39%
Financials 18.58%
Consumer discretionary 14.11%
Health care 11.37%
Industrials 9.03%
Consumer staples 6.71%
Energy 6.24%
Cash and net other assets 4.72%
Materials 3.23%
 
Other
4.62%
Utilities 2.32%
Real estate 1.38%
Telecommunication services 0.92%

The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Sectors will vary over time.


Expenses

Expense ratio

Class A Class B Class C Class M Class R Class Y
Total expense ratio 1.03% 1.78% 1.78% 1.53% 1.28% 0.78%
What you pay 1.03% 1.78% 1.78% 1.53% 1.28% 0.78%

Sales charge/Dealer allowance

 Breakpoint Class A Class B Class C Class M Class R Class Y
$0-$49,999 5.75% / 5.00% 0.00% / 4.00% 0.00% / 1.00% 3.50% / 3.00% -- --
$50,000-$99,999 4.50% / 3.75% 0.00% / 4.00% 0.00% / 1.00% 2.50% / 2.00% -- --
$100,000-$249,999 3.50% / 2.75% -- 0.00% / 1.00% 1.50% / 1.00% -- --
$250,000-$499,999 2.50% / 2.00% -- 0.00% / 1.00% 1.00% / 1.00% -- --
$500,000-$999,999 2.00% / 1.75% -- 0.00% / 1.00% 1.00% / 1.00% -- --
$1M-$4M 0.00% / 1.00% -- -- -- -- --
$4M-$50M 0.00% / 0.50% -- -- -- -- --
$50M+ 0.00% / 0.25% -- -- -- -- --

CDSC

  Class A (sales for $1,000,000+) Class B Class C Class M Class R Class Y
0 to 9 mts. 1.00% 5.00% 1.00% -- -- --
9 to 12 mts. 1.00% 5.00% 1.00% -- -- --
2 yrs. 0.00% 4.00% 0.00% -- -- --
3 yrs. 0.00% 3.00% 0.00% -- -- --
4 yrs. 0.00% 3.00% 0.00% -- -- --
5 yrs. 0.00% 2.00% 0.00% -- -- --
6 yrs. 0.00% 1.00% 0.00% -- -- --
7+ yrs. 0.00% 0.00% 0.00% -- -- --

Trail commissions

  Class A Class B Class C Class M Class R Class Y
  0.25% 0.25% 1.00% 0.65% 0.50% 0.00%
  NA NA NA NA NA NA
  NA NA NA NA NA NA

For sales and trail commission information on purchases over $1 million and participant-directed qualified retirement plans, see a Putnam fund prospectus and the statement of additional information.

The Russell 3000 Index is an unmanaged index of the 3,000 largest U.S. companies. You cannot invest directly in an index.

Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific issuer or industry. You can lose money by investing in the fund.