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Putnam Capital Manager
Putnam Global Health Care Subaccount
The subaccount seeks capital appreciation.
Fund description
The subaccount seeks to capitalize on the strength of the health-care sector, targeting companies of all sizes. Holdings encompass an array of industries, including pharmaceuticals, health-care services, and biotechnology. The fund seeks companies that offer strong long-term growth prospects, regardless of their size.
Sales story
Investing in the health-care sectorA dynamic sectorFrom biotech and drugs to devices and hospitals, the fund invests in industries that can profit from the global demand for health-care products and services.Seeks growth from innovationInnovative health-care solutions are always in demand, giving the fund potential for positive returns regardless of economic conditions.Active managementSupported by experienced research analysts, the portfolio manager uses bottom-up research to assess scientific innovation, regulatory changes, and company fundamentals.
Management team
- Michael J. Maguire, CFA (Investing since 2002)
Risk Characteristics as of 01/31/21
Alpha (%) | 1.20 |
Beta | 0.98 |
R squared | 0.95 |
Standard deviation (3 yrs.) | 15.23 |
Quick facts as of 01/31/21
Fiscal Year End | December |
Asset Class | Putnam Capital Manager |
Subaccount Status | Open to new investors |
Number of issues | 56 |
Turnover (fiscal year end) | 86% |
Net Assets | $158M |
Inception Date | 04/30/98 |
Holdings
UnitedHealth Group | 5.98% |
Johnson&Johnson | 5.40% |
Abbvie | 5.28% |
Astrazeneca | 4.96% |
Eli Lilly And | 4.76% |
Roche Holding Ag | 4.73% |
Novartis Ag | 4.53% |
Thermo Fisher Scientific | 3.55% |
Danaher Corp | 3.32% |
Bristol-Myers Squibb | 3.12% |
Top 10 holdings, total: | 45.63% |
Top 10 holdings as of 01/31/21 | |
---|---|
1: UnitedHealth Group | 5.98% |
2: Johnson&Johnson | 5.40% |
3: Abbvie | 5.28% |
4: Astrazeneca | 4.96% |
5: Eli Lilly And | 4.76% |
6: Roche Holding Ag | 4.73% |
7: Novartis Ag | 4.53% |
8: Thermo Fisher Scientific | 3.55% |
9: Danaher Corp | 3.32% |
10: Bristol-Myers Squibb | 3.12% |
Holdings represent 45.63% of portfolio |
Top 10 holdings as of 12/31/20 | |
---|---|
1: UnitedHealth Group | 6.27% |
2: Abbvie | 5.50% |
3: Johnson&Johnson | 5.19% |
4: Astrazeneca | 4.84% |
5: Roche Holding Ag | 4.77% |
6: Novartis Ag | 4.71% |
7: Eli Lilly And | 3.85% |
8: Thermo Fisher Scientific | 3.50% |
9: Danaher Corp | 3.40% |
10: Bristol-Myers Squibb | 3.14% |
Holdings represent 45.17% of portfolio |
Top 10 holdings as of 11/30/20 | |
---|---|
1: UnitedHealth Group | 6.65% |
2: Abbvie | 5.57% |
3: Johnson&Johnson | 5.04% |
4: Novartis Ag | 4.69% |
5: Roche Holding Ag | 4.66% |
6: Danaher Corp | 4.10% |
7: Astrazeneca | 3.70% |
8: Thermo Fisher Scientific | 3.62% |
9: Eli Lilly And | 3.44% |
10: Pfizer | 3.35% |
Holdings represent 44.82% of portfolio |
Top 10 holdings as of 10/31/20 | |
---|---|
1: UnitedHealth Group | 6.56% |
2: Johnson&Johnson | 5.20% |
3: Roche Holding Ag | 4.95% |
4: Abbvie | 4.93% |
5: Danaher Corp | 4.56% |
6: Thermo Fisher Scientific | 4.31% |
7: Astrazeneca | 3.86% |
8: Novartis Ag | 3.44% |
9: Pfizer | 3.38% |
10: Eli Lilly And | 3.35% |
Holdings represent 44.54% of portfolio |
UNITEDHEALTH GROUP INC SEDOL 2917766 | 6.27% | ABBVIE INC SEDOL B92SR70 | 5.50% | JOHNSON & JOHNSON SEDOL 2475833 | 5.19% | ASTRAZENECA PLC SEDOL 0989529 | 4.84% | ROCHE HOLDING AG-GENUSSCHEIN SEDOL 7110388 | 4.77% | NOVARTIS AG-REG SEDOL 7103065 | 4.71% | ELI LILLY & CO SEDOL 2516152 | 3.85% | THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 3.50% | DANAHER CORP SEDOL 2250870 | 3.40% | BRISTOL-MYERS SQUIBB CO SEDOL 2126335 | 3.14% | MERCK & CO. INC. SEDOL 2778844 | 2.65% | PFIZER INC SEDOL 2684703 | 2.62% | IRONWOOD PHARMACEUTICALS INC SEDOL B3MZ6K5 | 2.22% | ABBOTT LABORATORIES SEDOL 2002305 | 1.90% | HUMANA INC SEDOL 2445063 | 1.84% | STRYKER CORP SEDOL 2853688 | 1.80% | ANTHEM INC SEDOL BSPHGL4 | 1.70% | DAIICHI SANKYO CO LTD SEDOL B0J7D91 | 1.66% | MEDTRONIC PLC SEDOL BTN1Y11 | 1.61% | ACCELERON PHARMA INC SEDOL BDGTXQ8 | 1.50% | LONZA GROUP AG-REG SEDOL 7333378 | 1.46% | MCKESSON CORP SEDOL 2378534 | 1.44% | BIO-RAD LABORATORIES-A SEDOL 2098508 | 1.44% | VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 1.43% | LABORATORY CRP OF AMER HLDGS SEDOL 2586122 | 1.30% | ROYALTY PHARMA PLC- CL A SEDOL BMVP7Y0 | 1.24% | SARISSA CAPITAL ACQUISITION SEDOL BMF7JF7 | 1.17% | REGENERON PHARMACEUTICALS SEDOL 2730190 | 1.11% | CHANGE HEALTHCARE INC SEDOL BK5CVS5 | 1.02% | ASCENDIS PHARMA A/S - ADR SEDOL BV9G6B8 | 1.02% | ZIMMER BIOMET HOLDINGS INC SEDOL 2783815 | 0.98% | AVANTOR INC SEDOL BJLT387 | 0.98% | INTUITIVE SURGICAL INC SEDOL 2871301 | 0.93% | 4FRONT VENTURES CORP SEDOL BKFGXD6 | 0.92% | MERCK KGAA SEDOL 4741844 | 0.89% | NOVO NORDISK A/S-B SEDOL BHC8X90 | 0.89% | TAKEDA PHARMACEUTICAL CO LTD SEDOL 6870445 | 0.87% | MERSANA THERAPEUTICS INC SEDOL BF3NP05 | 0.86% | EDWARDS LIFESCIENCES CORP SEDOL 2567116 | 0.85% | INNOVIVA INC SEDOL BDDXF67 | 0.82% | COOPER COS INC/THE SEDOL 2222631 | 0.80% | SEAGEN INC SEDOL BLPK4D2 | 0.80% | AMGEN INC SEDOL 2023607 | 0.75% | ROCKET PHARMACEUTICALS INC SEDOL BDFKQ07 | 0.74% | AMERISOURCEBERGEN CORP | 0.70% | LIFESCI ACQUISITION CORP SEDOL BNGJR88 | 0.67% | TERUMO CORP SEDOL 6885074 | 0.66% | BIOGEN INC SEDOL 2455965 | 0.61% | CIGNA CORP SEDOL BHJ0775 | 0.59% | HEALTH SCIENCES ACQUISITIONS SEDOL BMWWF91 | 0.56% | CHUGAI PHARMACEUTICAL CO LTD SEDOL 6196408 | 0.54% | ALEXION PHARMACEUTICALS INC SEDOL 2036070 | 0.51% | ASTELLAS PHARMA INC SEDOL 6985383 | 0.47% | REVOLUTION MEDICINES INC SEDOL BL71K91 | 0.46% | EISAI CO LTD SEDOL 6307200 | 0.46% | INSMED INC SEDOL 2614487 | 0.45% | BIODESIX INC SEDOL BMWXS28 | 0.38% | POPULATION HEALTH INVESTMENT SEDOL BNDQB91 | 0.30% | VIATRIS INC SEDOL BMWS3X9 | 0.20% | AUD/USD 01/20/2021 RBSF | 0.13% | TREASURY BILL 00.0000 01/19/2021 | 0.13% | JD HEALTH INTL INC 144A SEDOL BMW8R04 | 0.04% | AUD/USD 01/20/2021 WPAC | 0.04% | JPY/USD 02/17/2021 GSFX | 0.03% | AUD/USD 01/20/2021 JPMCB | 0.03% | AUD/USD 01/20/2021 PSBS | 0.02% | EUR/USD 03/17/2021 BANKAM | 0.02% | GBP/USD 03/17/2021 MSCIL | 0.02% | NZD/USD 01/20/2021 JPMCB | 0.02% | GBP/USD 03/17/2021 GSFX | 0.01% | JPY/USD 02/17/2021 CSI-FX | 0.01% | ILS/USD 01/20/2021 SSBT | 0.01% | JPY/USD 02/17/2021 UBS | 0.01% | EUR/USD 03/17/2021 RBSF | 0.00% | DKK/USD 03/17/2021 CITI | 0.00% | CNH/USD 02/18/2021 HSBCB | 0.00% | EUR/USD 03/17/2021 BCAP-FX | 0.00% | JPY/USD 02/17/2021 BCAP-FX | 0.00% | EUR/USD 03/17/2021 MSCIL | 0.00% | EUR/USD 03/17/2021 TDBK | 0.00% | EUR/USD 03/17/2021 WPAC | 0.00% | CHF/USD 03/17/2021 MSCIL | 0.00% | CHF/USD 03/17/2021 UBS | 0.00% | EUR/USD 03/17/2021 HSBCB | 0.00% | EUR/USD 03/17/2021 SSBT | 0.00% | NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% | EUR/USD 03/17/2021 CITI | -0.00% | EUR/USD 03/17/2021 UBS | -0.00% | JPY/USD 02/17/2021 SSBT | -0.00% | GBP/USD 03/17/2021 HSBCB | -0.00% | GBP/USD 03/17/2021 BCAP-FX | -0.00% | CHF/USD 03/17/2021 JPMCB | -0.00% | GBP/USD 03/17/2021 BANKAM | -0.01% | JPY/USD 02/17/2021 BANKAM | -0.01% | JPY/USD 02/17/2021 JPMCB | -0.01% | GBP/USD 03/17/2021 SSBT | -0.01% | GBP/USD 03/17/2021 WPAC | -0.02% | AUD/USD 01/20/2021 UBS | -0.08% |
UNITEDHEALTH GROUP INC SEDOL 2917766 | 6.35% | JOHNSON & JOHNSON SEDOL 2475833 | 5.74% | ABBVIE INC SEDOL B92SR70 | 5.24% | ROCHE HOLDING AG-GENUSSCHEIN SEDOL 7110388 | 4.99% | THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 4.17% | MERCK & CO. INC. SEDOL 2778844 | 4.13% | ASTRAZENECA PLC SEDOL 0989529 | 3.96% | NOVARTIS AG-REG SEDOL 7103065 | 3.85% | DANAHER CORP SEDOL 2250870 | 3.51% | ELI LILLY & CO SEDOL 2516152 | 3.10% | HUMANA INC SEDOL 2445063 | 2.43% | ASCENDIS PHARMA A/S - ADR SEDOL BV9G6B8 | 2.39% | PFIZER INC SEDOL 2684703 | 2.31% | BRISTOL-MYERS SQUIBB CO SEDOL 2126335 | 2.22% | VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 2.18% | LONZA GROUP AG-REG SEDOL 7333378 | 2.10% | ABBOTT LABORATORIES SEDOL 2002305 | 2.01% | ROYALTY PHARMA PLC- CL A SEDOL BMVP7Y0 | 1.97% | INTUITIVE SURGICAL INC SEDOL 2871301 | 1.96% | BAXTER INTERNATIONAL INC SEDOL 2085102 | 1.89% | BOSTON SCIENTIFIC CORP SEDOL 2113434 | 1.88% | DAIICHI SANKYO CO LTD SEDOL B0J7D91 | 1.59% | BIO-RAD LABORATORIES-A SEDOL 2098508 | 1.50% | LABORATORY CRP OF AMER HLDGS SEDOL 2586122 | 1.46% | ACCELERON PHARMA INC SEDOL BDGTXQ8 | 1.41% | REGENERON PHARMACEUTICALS SEDOL 2730190 | 1.38% | SEATTLE GENETICS INC SEDOL 2738127 | 1.36% | MCKESSON CORP SEDOL 2378534 | 1.32% | ILLUMINA INC SEDOL 2613990 | 1.29% | IRONWOOD PHARMACEUTICALS INC SEDOL B3MZ6K5 | 1.17% | INSMED INC SEDOL 2614487 | 1.16% | CENTENE CORP SEDOL 2807061 | 1.15% | NOVO NORDISK A/S-B SEDOL BHC8X90 | 1.10% | BIOGEN INC SEDOL 2455965 | 1.06% | CIGNA CORP SEDOL BHJ0775 | 1.03% | QUIDEL CORP SEDOL 2717591 | 1.01% | SANOFI SEDOL 5671735 | 0.94% | TAKEDA PHARMACEUTICAL CO LTD SEDOL 6870445 | 0.91% | AMGEN INC SEDOL 2023607 | 0.88% | CHANGE HEALTHCARE INC SEDOL BK5CVS5 | 0.85% | AVANTOR INC SEDOL BJLT387 | 0.75% | AMERISOURCEBERGEN CORP | 0.74% | JAZZ PHARMACEUTICALS PLC SEDOL B4Q5ZN4 | 0.74% | MERCK KGAA SEDOL 4741844 | 0.68% | MYLAN NV SEDOL BVFMFG8 | 0.59% | DANAHER CORP 05.0000 CV PFD | 0.54% | HEALTH SCIENCES ACQUISITIONS SEDOL BMWWF91 | 0.51% | 4FRONT VENTURES CORP SEDOL BKFGXD6 | 0.49% | CHUGAI PHARMACEUTICAL CO LTD SEDOL 6196408 | 0.49% | ASTELLAS PHARMA INC SEDOL 6985383 | 0.48% | TERUMO CORP SEDOL 6885074 | 0.44% | LIFESCI ACQUISITION CORP SEDOL BLCH8B2 | 0.43% | EISAI CO LTD SEDOL 6307200 | 0.38% | TREASURY BILL 00.0000 10/27/2020 | 0.27% | ROCKET PHARMACEUTICALS INC SEDOL BDFKQ07 | 0.24% | OAK STREET HEALTH INC SEDOL BN2XDL9 | 0.19% | AUD/USD 10/21/2020 RBSF | 0.06% | GBP/USD 12/16/2020 SSBT | 0.03% | CHF/USD 12/16/2020 JPMCB | 0.03% | DKK/USD 12/16/2020 CITI | 0.02% | AUD/USD 10/21/2020 WPAC | 0.02% | AUD/USD 10/21/2020 JPMCB | 0.01% | AUD/USD 10/21/2020 SSBT | 0.01% | GBP/USD 12/16/2020 BCAP-FX | 0.01% | GBP/USD 12/16/2020 HSBCB | 0.01% | CNH/USD 11/18/2020 HSBCB | 0.00% | NZD/USD 10/21/2020 JPMCB | 0.00% | EUR/USD 12/16/2020 UBS | 0.00% | ILS/USD 10/21/2020 SSBT | 0.00% | JPY/USD 11/18/2020 JPMCB | 0.00% | EUR/USD 12/16/2020 SSBT | 0.00% | JPY/USD 11/18/2020 BCAP-FX | 0.00% | JPY/USD 11/18/2020 CSI-FX | 0.00% | JPY/USD 11/18/2020 GSFX | 0.00% | JPY/USD 11/18/2020 SSBT | 0.00% | NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% | JPY/USD 11/18/2020 UBS | -0.00% | EUR/USD 12/16/2020 HSBCB | -0.00% | EUR/USD 12/16/2020 WPAC | -0.00% | EUR/USD 12/16/2020 TDBK | -0.00% | JPY/USD 11/18/2020 BANKAM | -0.00% | EUR/USD 12/16/2020 BCAP-FX | -0.01% | GBP/USD 12/16/2020 GSFX | -0.02% | GBP/USD 12/16/2020 MSCIL | -0.04% | AUD/USD 10/21/2020 UBS | -0.04% | EUR/USD 12/16/2020 BANKAM | -0.06% |
Portfolio Composition as of 01/31/21
Common stock | 96.99% |
Cash and net other assets | 3.01% |
Consider these risks before investing: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. The health care industries may be affected by technological obsolescence, changes in regulatory approval policies for drugs, medical devices, or procedures, and changes in governmental and private payment systems. The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers than a diversified fund, it is vulnerable to common economic forces and may result in greater losses and volatility. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The use of short selling may result in losses if the securities appreciate in value. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund. 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.
Top Industry Sectors as of 01/31/21
Pharmaceuticals | 41.59% |
---|---|
Biotechnology | 18.71% |
Health Care Providers & Services | 14.01% |
Health Care Equipment & Supplies | 13.38% |
Life Sciences Tools & Services | 7.25% |
Cash and net other assets | 3.01% |
Diversified Financial Services | 2.05% |
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Country Allocation as of 01/31/21
United States | 74.12% |
---|---|
Switzerland | 10.71% |
United Kingdom | 4.96% |
Japan | 4.53% |
Cash and net other assets | 3.01% |
Denmark | 1.80% |
Germany | 0.87% |
0