Putnam Capital Manager

Putnam Multi-Cap Core Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in stocks of U.S companies of all sizes. The subaccount is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking opportunities across a wide range of stocks"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.

Management team

Lipper ranking ‡ as of 08/31/19

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 49% 53/109
1 yr. 88% 133/151
3 yrs. 53% 75/141
5 yrs. 74% 104/140

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

Quick facts as of 08/31/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 129
Turnover (fiscal year end) 34%
Net Assets $248M
Inception Date 05/01/98

Holdings

Top 10 holdings as of 08/31/19

Microsoft Corp 6.73%
Apple 4.89%
Alphabet 2.55%
JPMorgan Chase 2.55%
Bank Of America Corp 2.44%
Amazon.Com 2.20%
Cisco Systems 2.09%
Visa 1.99%
Walmart 1.96%
Amgen 1.71%
Top 10 holdings, total: 29.11%

Full Portfolio Holdings as of 06/30/19

MICROSOFT CORP 6.38%
APPLE INC 4.52%
JPMORGAN CHASE & CO 2.53%
BANK OF AMERICA CORP 2.51%
CISCO SYSTEMS INC 2.38%
AMAZON.COM INC 2.28%
ALPHABET INC-CL C 2.26%
VISA INC-CLASS A SHARES 1.86%
WALMART INC 1.85%
CITIGROUP INC 1.68%
FACEBOOK INC-CLASS A 1.57%
BERKSHIRE HATHAWAY INC-CL B 1.53%
AMGEN INC 1.47%
COMCAST CORP-CLASS A 1.43%
INDUSTRIAL SELECT SECT SPDR 1.42%
UNITEDHEALTH GROUP INC 1.41%
WALT DISNEY CO/THE 1.32%
JOHNSON & JOHNSON 1.28%
ROYAL DUTCH SHELL-SPON ADR-A 1.22%
HEALTH CARE SELECT SECTOR 1.21%
INTEL CORP 1.20%
GOLDMAN SACHS GROUP INC 1.17%
ORACLE CORP 1.16%
PROCTER & GAMBLE CO/THE 1.11%
MERCK & CO. INC. 1.06%
HONEYWELL INTERNATIONAL INC 1.02%
PULTEGROUP INC 1.01%
CONOCOPHILLIPS 1.00%
UNION PACIFIC CORP 1.00%
AT&T INC 0.94%
CAPITAL ONE FINANCIAL CORP 0.90%
LOWES COMPANIES INC 0.89%
NRG ENERGY INC 0.89%
HCA HEALTHCARE INC 0.89%
BAXTER INTERNATIONAL INC 0.86%
PEPSICO INC 0.86%
GILEAD SCIENCES INC 0.83%
EXELON CORP 0.82%
TARGET CORP 0.82%
BOEING CO/THE 0.82%
LIVE NATION ENTERTAINMENT IN 0.82%
KINDER MORGAN INC 0.81%
RAYMOND JAMES FINANCIAL INC 0.79%
CATERPILLAR INC 0.77%
LAM RESEARCH CORP 0.76%
ENTERGY CORP 0.75%
AMERIPRISE FINANCIAL INC 0.75%
NORFOLK SOUTHERN CORP 0.74%
BEST BUY CO INC 0.74%
CELANESE CORP 0.73%
SOUTHWEST AIRLINES CO 0.71%
SPDR S&P HOMEBUILDERS ETF 0.71%
WELLS FARGO & CO 0.69%
HOME DEPOT INC 0.67%
REPUBLIC SERVICES INC 0.66%
AIR CANADA 0.65%
JAZZ PHARMACEUTICALS PLC 0.64%
ENTERPRISE PRODUCTS PARTNERS 0.64%
LINCOLN NATIONAL CORP 0.64%
BIOGEN INC 0.64%
DXC TECHNOLOGY CO 0.62%
INTL BUSINESS MACHINES CORP 0.62%
EQUITY COMMONWEALTH 0.62%
VALERO ENERGY CORP 0.60%
GENERAL MOTORS CO 0.60%
MAGNA INTERNATIONAL INC 0.58%
MORGAN STANLEY 0.58%
MCKESSON CORP 0.58%
CBRE GROUP INC - A 0.58%
ASSURED GUARANTY LTD 0.57%
NOVARTIS AG-REG 0.56%
DISCOVERY INC - A 0.55%
ADOBE INC 0.54%
BOOKING HOLDINGS INC 0.54%
ELI LILLY & CO 0.53%
MOLSON COORS BREWING CO -B 0.51%
ARMADA HOFFLER PROPERTIES IN 0.49%
KROGER CO 0.49%
APOLLO GLOBAL MANAGEMENT - A 0.48%
KENNEDY-WILSON HOLDINGS INC 0.48%
AMERICAN AIRLINES GROUP INC 0.48%
COCA-COLA CO/THE 0.48%
EASTERLY GOVERNMENT PROPERTI 0.47%
UNITED RENTALS INC 0.45%
MICRON TECHNOLOGY INC 0.45%
WALGREENS BOOTS ALLIANCE INC 0.45%
SUNCOR ENERGY INC 0.45%
KKR & CO INC -A 0.41%
PIRELLI & C SPA 0.40%
TPG PACE HOLDINGS CORP 0.38%
MARATHON OIL CORP 0.38%
NUCOR CORP 0.36%
FREEPORT-MCMORAN INC 0.34%
TENET HEALTHCARE CORP 0.32%
FASTLY INC - CLASS A 0.31%
LIBERTY GLOBAL PLC-A 0.31%
ON SEMICONDUCTOR CORP 0.31%
DIAMONDBACK ENERGY INC 0.28%
PLAINS GP HOLDINGS LP-CL A 0.28%
RADIAN GROUP INC 0.28%
DUPONT DE NEMOURS INC 0.27%
ENCANA CORP 0.27%
J2 ACQUISITION LTD 0.27%
SIRIUS INTERNATIONAL INSURAN 0.26%
CHANGE HEALTHCARE INC 0.24%
LARGO RESOURCES LTD 0.22%
MICHAELS COS INC/THE 0.21%
BRIGHAM MINERALS INC-CL A 0.21%
DELIVERY HERO AG 0.20%
RATTLER MIDSTREAM LP 0.18%
BLOOMIN' BRANDS INC 0.18%
DOW INC 0.18%
CAPITOL INVESTMENT CORP IV 0.18%
HILLTOP HOLDINGS INC 0.16%
KIMBELL ROYALTY PARTNERS LP 0.13%
BRIGHTVIEW HOLDINGS INC 0.12%
GREEN BRICK PARTNERS INC 0.11%
PRIORITY TECHNOLOGY HOLDINGS 0.08%
HYATT HOTELS CORP - CL A 0.08%
US XPRESS ENTERPRISES INC -A 0.07%
CAMPBELL SOUP CO 0.05%
ADAPTIVE BIOTECHNOLOGIES 0.01%
TREASURY BILL 00.0000 07/18/2019 0.01%
RA MEDICAL SYSTEMS INC 0.01%
GLOBAL FASHION GRP P/P 0.01%
SIRIUS INTERNATIONAL-CW23 0.01%
J2 ACQUISITION LTD-CW20 0.01%
ALIGNVEST ACQUISITION - CW22 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%

Prior top 10 holdings

Top 10 holdings as of 08/31/19
1: Microsoft Corp 6.73%
2: Apple 4.89%
3: Alphabet 2.55%
4: JPMorgan Chase 2.55%
5: Bank Of America Corp 2.44%
6: Amazon.Com 2.20%
7: Cisco Systems 2.09%
8: Visa 1.99%
9: Walmart 1.96%
10: Amgen 1.71%
Holdings represent 29.11% of portfolio
Top 10 holdings as of 07/31/19
1: Microsoft Corp 6.44%
2: Apple 4.83%
3: Bank Of America Corp 2.63%
4: JPMorgan Chase 2.61%
5: Alphabet 2.53%
6: Cisco Systems 2.39%
7: Amazon.Com 2.23%
8: Visa 1.90%
9: Walmart 1.83%
10: Citigroup 1.69%
Holdings represent 29.08% of portfolio
Top 10 holdings as of 06/30/19
1: Microsoft Corp 6.38%
2: Apple 4.52%
3: JPMorgan Chase 2.53%
4: Bank Of America Corp 2.51%
5: Cisco Systems 2.38%
6: Amazon.Com 2.28%
7: Alphabet 2.26%
8: Visa 1.86%
9: Walmart 1.85%
10: Citigroup 1.68%
Holdings represent 28.25% of portfolio
Top 10 holdings as of 05/31/19
1: Microsoft Corp 6.24%
2: Apple 4.24%
3: JPMorgan Chase 2.62%
4: Alphabet 2.44%
5: Bank Of America Corp 2.44%
6: Cisco Systems 2.40%
7: Amazon.Com 2.27%
8: Visa 1.83%
9: Walmart 1.80%
10: Citigroup 1.58%
Holdings represent 27.86% of portfolio

Portfolio Composition as of 08/31/19

Common stock 98.52%
Cash and net other assets 1.48%

Portfolio allocations will vary over time. The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

Top Industry Sectors as of 08/31/19

Information technology 21.41%
Financials 16.23%
Health care 12.99%
Consumer discretionary 10.31%
Communication services 9.57%
Industrials 7.91%
Consumer staples 6.32%
Energy 6.08%
Real estate 3.07%
 
Other
6.11%
Utilities 2.62%
Materials 2.01%
Cash and net other assets 1.48%