U.S. Large Cap Value Equity Concentrated

The strategy seeks to invest in companies with underappreciated fundamentals and the income potential from growing dividends to pursue returns for investors.*

Complete details, including composite calendar-year performance (%)

Quarterly Review (PDF)

Investment approach

  • A disciplined process that combines fundamental research and quantitative tools to pursue multiple alpha sources, with a strong overlay of risk control and portfolio construction
  • A focus on companies' ability and willingness to return capital to shareholders
  • Veteran managers whose experience with both U.S. and non-U.S. value strategies provides critical global insight for analyzing the large-cap value equity universe

Benchmark index

Russell 1000 Value Index

AUM ($M) Strategy

23,871

AUM ($M) Composite

84.4

Inception date

11/30/16

Typical range of portfolio holdings

35–45

Related Putnam mutual fund

Large Cap Value 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.

Strategy assets include assets for aggregate strategy accounts that are not reflected in the composite. Strategy inception represents the aggregate strategy inception date.


Portfolio managers

Portfolio Manager
Assistant Portfolio Manager

Performance and holdings as of 6/30/21

Composite performance (%)

Annualized Gross Net Index
Q2 7.23 7.15 5.21
1 year 47.20 46.76 43.68
3 year 15.86 15.51 12.42
Since inception 15.70 15.35 11.21

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. Returns less than one year are not annualized. Most recent quarter-end performance is preliminary. Returns are subject to change. Portfolio characteristics are for a representative account and are shown for illustrative purposes only. Portfolio characteristics 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 an investment in the securities identified was or will be profitable. Holdings are subject to change.

Top 10 portfolio holdings (%)

Company % Industry
Bank of America 5.5 Banks
Microsoft 4.5 Software
NXP Semiconductors 3.7 Semiconductors and semiconductor equipment
General Moters 3.6 Automobiles
Exelon 3.3 Electric utilities
Johnson Controls 3.3 Building products
Eli Lilly 3.2 Pharamaceuticals
Gaming and Leisure Properties 3.2 Equity real estate investment trusts (REITs)
Assured Guaranty 3.2 Insurance
United Rentals 3.1 Trading companies and distributors
Total 36.6

Literature

When to consider an SMA

SMAs offer customization and tax flexibility as well as a competitive fee level, and might be the vehicle of choice for many investors.

Download PDF

Related Insights

Equity Insights

The strategy was formerly named the U.S. Large Cap Value Equity Separately Managed Account.

The Russell 1000 Value Index in an unmanaged index of those companies in the large-cap Russell 1000 Index chosen for their value orientation. 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.

Model-based managed accounts programs: Putnam Investments and its affiliates, which include The Putnam Advisory Company, LLC and Putnam Investment Management, LLC (“Putnam”), is limited to providing non-discretionary investment management services through Separately Managed Account (SMA) and Unified Managed Account (UMA) programs or other third-party platforms (collectively, the “Financial Intermediary”), where Putnam generally provides ongoing investment recommendations through one or more “model” portfolios, and the Financial Intermediary, rather than Putnam, makes investment decisions and executes trades on behalf of its underlying clients. The Financial Intermediary 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. This information is not personalized investment advice or an investment recommendation by Putnam, and is intended for use only by a Financial Intermediary in connection with its management of its own clients’ accounts. Putnam does not have investment discretion over, or place trade orders for, any portfolio or account derived from this information. Performance of any portfolio or account derived from this information may vary materially from the performance shown herein. 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 portfolio 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 Financial Intermediary and may materially differ from information provided by a Financial Intermediary. Putnam is not responsible for overseeing the provision of services by a Financial Intermediary and cannot assure the quality of its services.