David L. Glancy
Building high-conviction portfolios of misunderstood companies
An expert in capital structure opportunitiesThrough careful examination of balance sheet strengths and weaknesses, Mr. Glancy looks for investment potential in companies that use debt strategically, and he may target securities across different parts of the capital structure.
An unconstrained investorMr. Glancy constructs portfolios in accordance with his convictions. Accordingly, he invests with a flexible mandate that allows him to go beyond benchmark indexes, build concentrated positions, hold large amounts of cash, and short-sell securities he considers overvalued.
Experienced over many market cyclesAs a veteran investor in a wide variety of markets since 1987, Mr. Glancy has developed investment capabilities across different security types, including high-yield debt, bank loans, and equities.
Mr. Glancy is Portfolio Manager of Putnam Capital Spectrum Fund and Putnam Equity Spectrum Fund.He joined Putnam in 2009 and has been in the investment industry since 1987.