U.S. Core Equity Concentrated
Complete details, including composite calendar-year performance (%)Quarterly Review (PDF)
- The strategy invests in stocks of U.S. companies across all market caps, with flexibility to own both growth and value stocks
A disciplined bottom-up fundamental investment process focuses on three buckets of idea generation
- Legacy names: long-researched companies, with buy/sell decisions based on soft changes to fundamentals or price
- Smart money: research process tracks non-option-based buying and selling activity of company insiders
- Special situations: companies represent differentiated ideas that have attractive risk/reward profiles
Benchmark indexRussell 3000 Index
AUM ($M) Strategy3,592.73
AUM ($M) Composite0.1
Typical range of portfolio holdings50–70
Related Putnam mutual fundCore Equity Fund
*No assurance can be given that the investment objective will be achieved or that an investor will receive a return of all or part of his or her investment. Actual results could be materially different from the stated goals. Investors should carefully consider the risk involved before deciding to invest. As with any investment, there is a potential for profit as well as the possibility of loss. Portfolio targets are subject to change.
Performance and holdings as of 6/30/23
Composite performance (%)
Past performance is not a guarantee of future results.
An investment in this strategy can lose value. Returns are stated in U.S. dollars and include the reinvestment of dividends and interest. Periods less than one year are not annualized. Most recent quarter-end performance is preliminary. Returns are subject to change. Gross performance includes the deduction of transaction costs but does not include the deduction of management fees and other expenses that may be incurred in managing an investment account. A portfolio's return will be reduced by advisory and other fees. Net performance reflects the deduction of a model fee applied on a monthly basis, equal to the actual management fee incurred by a portfolio in the composite or the highest management fee that would be charged to a prospect of the strategy, whichever is higher. The model fee may change over time. Actual advisory fees may vary among clients with the same investment strategy. The composite includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite's investment strategy.
Portfolio characteristics and holdings are for a representative account managed to the composite’s strategy and are shown for illustrative purposes only. Each account is managed individually. Accordingly, portfolio characteristics may vary and are subject to change. Portfolio characteristics and holdings of individual accounts managed to a model portfolio strategy may differ as a result of account size; client-imposed investment restrictions; the timing of client investments; market, economic, and individual company considerations; and other factors. The inclusion of holdings information should not be interpreted as a recommendation to buy or sell or hold any security. The securities identified do not represent all the securities purchased, sold, or recommended for client accounts. It should not be assumed that any investment in these securities was, or will prove to be, profitable, or that the investment decisions we make in the future will be profitable or equal to the investment performance of securities referenced herein.
Top 10 portfolio holdings (%)
|Apple||9.1||Technology hardware, storage and peripherals|
|Alphabet||4.2||Interactive media and services|
|NVIDIA||3.1||Semiconductors and semiconductor equipment|
|Bank of America||2.5||Banks|
|Meta Platforms||2.4||Interactive media and services|
|UnitedHealth||2.2||Health care providers and services|
|Berkshire Hathaway||2.2||Financial services|
The Russell 3000® Index is an unmanaged index of the 3,000 largest U.S. companies. Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. You cannot invest directly in an index.
To learn more about our offerings, please call our Client Engagement Center (CEC) at 1-800-354-4000.
Managed accounts programs: Putnam Investment Management, LLC (“Putnam”) offers investment advisory services through managed account programs that offer “Model-Delivery” or “Dual-Contract” separately managed accounts (“SMAs”) and are sponsored by non-affiliated financial intermediaries (“Program Sponsors”). Model-Delivery SMAs are non-discretionary investment services where Putnam generally provides ongoing investment recommendations through one or more “model” portfolios, and the Program Sponsor, rather than Putnam, makes investment decisions and executes trades on behalf of its underlying clients. The Program Sponsor decides in its discretion whether to make any changes to the model that Putnam recommends and is also solely responsible for determining the suitability of the strategy and investments for each client that participates. For Dual-Contract SMAs, Putnam generally obtains a client’s written consent to its discretionary authority with respect to the client’s assets in the form of an executed investment management agreement or other comparable services agreement prior to providing discretionary advisory services. The Program Sponsor is responsible for ascertaining the financial circumstances, investment objectives, and investment restrictions applicable to each client through information provided by the client. Putnam is responsible only for managing the Dual-Contract SMA in accordance with the selected investment strategy and any “reasonable restrictions” imposed by the client. There is no guarantee that any investment strategy illustrated will be successful or achieve any particular level of results. Information and other marketing materials created by Putnam concerning a Model-Delivery or Dual-Contract SMA strategy – including holdings, performance and other characteristics – may not be indicative of a client’s actual experience from an account managed in accordance with the strategy. This material has been created by Putnam, and the information included herein has not been verified by a Program Sponsor and may materially differ from information provided by a Program Sponsor. Putnam is not responsible for overseeing the provision of services by a Program Sponsor and cannot assure the quality of its services.