‡ 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.
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
- Gerard P. Sullivan (Investing since 1982)
- Arthur Yeager (Investing since 1984)
Lipper ranking ‡ as of 09/30/21
Category: Multi-Cap Core Funds
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 14% | 11/79 |
| 1 yr. | 14% | 14/103 |
| 3 yrs. | 21% | 20/97 |
| 5 yrs. | 12% | 10/89 |
Quick facts as of 09/30/21
| Fiscal Year End | December |
| Asset Class | Putnam Capital Manager |
| Subaccount Status | Open to new investors |
| Number of issues | 98 |
| Turnover (fiscal year end) | 47% |
| Net Assets | $284M |
| Inception Date | 04/30/98 |
Holdings
| Microsoft Corp | 8.68% |
| Apple | 7.09% |
| Alphabet | 4.02% |
| Amazon.Com | 3.74% |
| Bank Of America Corp | 3.56% |
| 2.36% | |
| Lowe's | 2.04% |
| Berkshire Hathaway | 1.96% |
| Oracle Corp | 1.79% |
| Target Corp | 1.77% |
| Top 10 holdings, total: | 37.01% |
| Top 10 holdings as of 09/30/21 | |
|---|---|
| 1: Microsoft Corp | 8.68% |
| 2: Apple | 7.09% |
| 3: Alphabet | 4.02% |
| 4: Amazon.Com | 3.74% |
| 5: Bank Of America Corp | 3.56% |
| 6: Facebook | 2.36% |
| 7: Lowe's | 2.04% |
| 8: Berkshire Hathaway | 1.96% |
| 9: Oracle Corp | 1.79% |
| 10: Target Corp | 1.77% |
| Holdings represent 37.01% of portfolio | |
| Top 10 holdings as of 08/31/21 | |
|---|---|
| 1: Microsoft Corp | 8.74% |
| 2: Apple | 7.14% |
| 3: Alphabet | 4.32% |
| 4: Amazon.Com | 3.71% |
| 5: Bank Of America Corp | 3.43% |
| 6: Facebook | 2.48% |
| 7: Lowe's | 1.93% |
| 8: Berkshire Hathaway | 1.93% |
| 9: Target Corp | 1.80% |
| 10: Walmart | 1.77% |
| Holdings represent 37.25% of portfolio | |
| Top 10 holdings as of 07/31/21 | |
|---|---|
| 1: Microsoft Corp | 8.34% |
| 2: Apple | 6.95% |
| 3: Alphabet | 4.06% |
| 4: Amazon.Com | 3.60% |
| 5: Bank Of America Corp | 3.19% |
| 6: Facebook | 2.36% |
| 7: Lowe's | 2.08% |
| 8: Target Corp | 1.92% |
| 9: Berkshire Hathaway | 1.90% |
| 10: Johnson & Johnson | 1.72% |
| Holdings represent 36.12% of portfolio | |
| Top 10 holdings as of 06/30/21 | |
|---|---|
| 1: Microsoft Corp | 8.11% |
| 2: Apple | 7.19% |
| 3: Alphabet | 3.87% |
| 4: Amazon.Com | 3.86% |
| 5: Bank Of America Corp | 3.51% |
| 6: Facebook | 2.35% |
| 7: Lowe's | 2.13% |
| 8: Berkshire Hathaway | 1.94% |
| 9: Target Corp | 1.82% |
| 10: Lam Research Corp | 1.75% |
| Holdings represent 36.53% of portfolio | |
| MICROSOFT CORP SEDOL 2588173 | 8.68% | APPLE INC SEDOL 2046251 | 7.09% | ALPHABET INC-CL C SEDOL BYY88Y7 | 4.02% | AMAZON.COM INC SEDOL 2000019 | 3.74% | BANK OF AMERICA CORP SEDOL 2295677 | 3.56% | FACEBOOK INC-CLASS A SEDOL B7TL820 | 2.36% | LOWES COMPANIES INC | 2.04% | BERKSHIRE HATHAWAY INC-CL B SEDOL 2073390 | 1.96% | ORACLE CORP SEDOL 2661568 | 1.79% | TARGET CORP SEDOL 2259101 | 1.77% | WALMART INC SEDOL 2936921 | 1.77% | JOHNSON & JOHNSON SEDOL 2475833 | 1.70% | UNITEDHEALTH GROUP INC SEDOL 2917766 | 1.64% | LAM RESEARCH CORP SEDOL 2502247 | 1.58% | CISCO SYSTEMS INC SEDOL 2198163 | 1.57% | MASTERCARD INC - A SEDOL B121557 | 1.57% | HEALTH CARE SELECT SECTOR SEDOL 2371823 | 1.54% | CONSUMER STAPLES SPDR SEDOL 2369389 | 1.41% | HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 1.40% | ABBVIE INC SEDOL B92SR70 | 1.39% | CITIGROUP INC SEDOL 2297907 | 1.37% | AMGEN INC SEDOL 2023607 | 1.35% | GOLDMAN SACHS GROUP INC SEDOL 2407966 | 1.34% | COMCAST CORP-CLASS A SEDOL 2044545 | 1.31% | UNION PACIFIC CORP SEDOL 2914734 | 1.29% | PULTEGROUP INC SEDOL 2708841 | 1.17% | RAYTHEON TECHNOLOGIES CORP SEDOL BM5M5Y3 | 1.14% | GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 1.14% | OTIS WORLDWIDE CORP SEDOL BK531S8 | 1.03% | NORTHROP GRUMMAN CORP SEDOL 2648806 | 1.03% | CBRE GROUP INC - A SEDOL B6WVMH3 | 1.02% | WALT DISNEY CO/THE SEDOL 2270726 | 1.00% | SOUTHWEST AIRLINES CO SEDOL 2831543 | 1.00% | MAGNA INTERNATIONAL INC SEDOL 2554549 | 0.98% | ELI LILLY & CO SEDOL 2516152 | 0.98% | INTEL CORP SEDOL 2463247 | 0.97% | KKR & CO INC SEDOL BG1FRR1 | 0.95% | PAYPAL HOLDINGS INC SEDOL BYW36M8 | 0.93% | MORGAN STANLEY | 0.91% | UNITED RENTALS INC SEDOL 2134781 | 0.89% | COCA-COLA CO/THE SEDOL 2206657 | 0.85% | EXELON CORP SEDOL 2670519 | 0.84% | NRG ENERGY INC SEDOL 2212922 | 0.82% | BEST BUY CO INC SEDOL 2094670 | 0.81% | MCKESSON CORP SEDOL 2378534 | 0.78% | TENET HEALTHCARE CORP SEDOL B8DMK08 | 0.77% | PERSHING SQUARE TONTINE -A SEDOL BLCB6C1 | 0.77% | LIBERTY GLOBAL PLC-A SEDOL B8W6766 | 0.76% | ENTERPRISE PRODUCTS PARTNERS SEDOL 2285388 | 0.76% | DYNATRACE INC SEDOL BJV2RD9 | 0.76% | ASSURED GUARANTY LTD SEDOL B00V7H8 | 0.73% | TEXAS INSTRUMENTS INC SEDOL 2885409 | 0.72% | ALTRIA GROUP INC | 0.71% | CVS HEALTH CORP SEDOL 2577609 | 0.69% | FREEPORT-MCMORAN INC SEDOL 2352118 | 0.66% | EASTMAN CHEMICAL CO SEDOL 2298386 | 0.66% | MEDTRONIC PLC SEDOL BTN1Y11 | 0.65% | CONOCOPHILLIPS | 0.65% | ARCH CAPITAL GROUP LTD SEDOL 2740542 | 0.62% | HCA HEALTHCARE INC SEDOL B4MGBG6 | 0.60% | MICRON TECHNOLOGY INC SEDOL 2588184 | 0.59% | SALESFORCE.COM INC SEDOL 2310525 | 0.58% | RAYMOND JAMES FINANCIAL INC SEDOL 2718992 | 0.57% | NUCOR CORP SEDOL 2651086 | 0.56% | KEYCORP SEDOL 2490911 | 0.56% | P G & E CORP SEDOL 2689560 | 0.55% | CIGNA CORP SEDOL BHJ0775 | 0.54% | MOLSON COORS BEVERAGE CO - B SEDOL B067BM3 | 0.46% | NCR CORPORATION SEDOL 2632650 | 0.46% | AT&T INC SEDOL 2831811 | 0.46% | ARMADA HOFFLER PROPERTIES IN SEDOL B96FTB5 | 0.45% | APOLLO GLOBAL MANAGEMENT INC SEDOL BKRLVD5 | 0.42% | PENN NATIONAL GAMING CV 02.7500 05/15/2026 | 0.41% | BOSTON PROPERTIES INC SEDOL 2019479 | 0.37% | PHILLIPS 66 SEDOL B78C4Y8 | 0.35% | SENIOR CONNECT ACQUISITION-A SEDOL BN46WK8 | 0.31% | DEERE & CO SEDOL 2261203 | 0.30% | KARAT PACKAGING INC SEDOL BKDZ6W5 | 0.29% | COMSTOCK RESOURCES INC SEDOL BD82PS1 | 0.28% | LKQ CORP SEDOL 2971029 | 0.27% | STARWOOD PROPERTY TRUST INC SEDOL B3PQ520 | 0.27% | SUMMIT MATERIALS INC -CL A SEDOL BW9JPS4 | 0.25% | COVA ACQUISITION CORP SEDOL BNC4KN3 | 0.25% | CITRIX SYSTEMS INC SEDOL 2182553 | 0.21% | CHUY'S HOLDINGS INC SEDOL B88WMY1 | 0.20% | NYXOAH SA SEDOL BMZ4JV4 | 0.16% | SWITCHBACK II CORP -CLASS A SEDOL BKP8HC9 | 0.16% | KURA SUSHI USA INC-CLASS A SEDOL BKDV6G7 | 0.14% | FIRSTMARK HORIZON ACQUISIT-A SEDOL BMD3YV8 | 0.14% | VORNADO REALTY TRUST SEDOL 2933632 | 0.14% | RINGCENTRAL INC-CLASS A SEDOL BDZCRX3 | 0.12% | SWITCHBACK ENERGY- PIPE P/P | 0.12% | VOR BIOPHARMA INC SEDOL BLCD876 | 0.12% | ENGAGESMART INC SEDOL BMHT1H7 | 0.11% | UPLAND SOFTWARE INC SEDOL BS7K7H4 | 0.11% | BETTER CHOICE CO INC SEDOL BLB1741 | 0.03% | HC BRILLANT SERVICES GMBH P/P | 0.00% | FB 20211119 C 385.00UBS | -0.00% |
| MICROSOFT CORP SEDOL 2588173 | 8.12% | APPLE INC SEDOL 2046251 | 7.19% | ALPHABET INC-CL C SEDOL BYY88Y7 | 3.87% | AMAZON.COM INC SEDOL 2000019 | 3.86% | BANK OF AMERICA CORP SEDOL 2295677 | 3.51% | FACEBOOK INC-CLASS A SEDOL B7TL820 | 2.35% | LOWES COMPANIES INC | 2.13% | BERKSHIRE HATHAWAY INC-CL B SEDOL 2073390 | 1.94% | TARGET CORP SEDOL 2259101 | 1.82% | LAM RESEARCH CORP SEDOL 2502247 | 1.75% | WALMART INC SEDOL 2936921 | 1.74% | JOHNSON & JOHNSON SEDOL 2475833 | 1.69% | UNITEDHEALTH GROUP INC SEDOL 2917766 | 1.63% | MASTERCARD INC - A SEDOL B121557 | 1.60% | ORACLE CORP SEDOL 2661568 | 1.56% | AMGEN INC SEDOL 2023607 | 1.50% | CISCO SYSTEMS INC SEDOL 2198163 | 1.48% | ABBVIE INC SEDOL B92SR70 | 1.41% | HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 1.40% | PULTEGROUP INC SEDOL 2708841 | 1.36% | CITIGROUP INC SEDOL 2297907 | 1.34% | GOLDMAN SACHS GROUP INC SEDOL 2407966 | 1.31% | COMCAST CORP-CLASS A SEDOL 2044545 | 1.30% | UNION PACIFIC CORP SEDOL 2914734 | 1.22% | WALT DISNEY CO/THE SEDOL 2270726 | 1.18% | MAGNA INTERNATIONAL INC SEDOL 2554549 | 1.18% | GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 1.10% | RAYTHEON TECHNOLOGIES CORP SEDOL BM5M5Y3 | 1.10% | UNITED RENTALS INC SEDOL 2134781 | 1.08% | HCA HEALTHCARE INC SEDOL B4MGBG6 | 1.03% | PAYPAL HOLDINGS INC SEDOL BYW36M8 | 1.02% | BEST BUY CO INC SEDOL 2094670 | 1.01% | SOUTHWEST AIRLINES CO SEDOL 2831543 | 1.00% | CONSUMER STAPLES SPDR SEDOL 2369389 | 1.00% | INTEL CORP SEDOL 2463247 | 0.99% | ELI LILLY & CO SEDOL 2516152 | 0.94% | KKR & CO INC SEDOL BG1FRR1 | 0.90% | EASTMAN CHEMICAL CO SEDOL 2298386 | 0.89% | CBRE GROUP INC - A SEDOL B6WVMH3 | 0.87% | OTIS WORLDWIDE CORP SEDOL BK531S8 | 0.87% | NORTHROP GRUMMAN CORP SEDOL 2648806 | 0.87% | COCA-COLA CO/THE SEDOL 2206657 | 0.86% | MORGAN STANLEY | 0.83% | ENTERPRISE PRODUCTS PARTNERS SEDOL 2285388 | 0.82% | NRG ENERGY INC SEDOL 2212922 | 0.78% | TENET HEALTHCARE CORP SEDOL B8DMK08 | 0.76% | EXELON CORP SEDOL 2670519 | 0.74% | E-MINI RUSS 2000 SEP21 RTYU1 | 0.74% | FREEPORT-MCMORAN INC SEDOL 2352118 | 0.73% | P G & E CORP SEDOL 2689560 | 0.73% | MCKESSON CORP SEDOL 2378534 | 0.73% | ASSURED GUARANTY LTD SEDOL B00V7H8 | 0.72% | S&P500 EMINI FUT SEP21 ESU1 | 0.72% | ALTRIA GROUP INC | 0.72% | TEXAS INSTRUMENTS INC SEDOL 2885409 | 0.70% | MICRON TECHNOLOGY INC SEDOL 2588184 | 0.69% | LIBERTY GLOBAL PLC-A SEDOL B8W6766 | 0.67% | CVS HEALTH CORP SEDOL 2577609 | 0.66% | MEDTRONIC PLC SEDOL BTN1Y11 | 0.62% | CIGNA CORP SEDOL BHJ0775 | 0.61% | ARCH CAPITAL GROUP LTD SEDOL 2740542 | 0.61% | DYNATRACE INC SEDOL BJV2RD9 | 0.60% | CONOCOPHILLIPS | 0.56% | NUCOR CORP SEDOL 2651086 | 0.52% | MOLSON COORS BEVERAGE CO - B SEDOL B067BM3 | 0.51% | RAYMOND JAMES FINANCIAL INC SEDOL 2718992 | 0.51% | KEYCORP SEDOL 2490911 | 0.51% | SALESFORCE.COM INC SEDOL 2310525 | 0.50% | NCR CORPORATION SEDOL 2632650 | 0.49% | ARMADA HOFFLER PROPERTIES IN SEDOL B96FTB5 | 0.43% | PHILLIPS 66 SEDOL B78C4Y8 | 0.41% | CLIMATE CHANGE CRISI | 0.41% | PENN NATIONAL GAMING CV 02.7500 05/15/2026 | 0.41% | APOLLO GLOBAL MANAGEMENT INC SEDOL BKRLVD5 | 0.40% | AT&T INC SEDOL 2831811 | 0.38% | BOSTON PROPERTIES INC SEDOL 2019479 | 0.37% | FEDEX CORP SEDOL 2142784 | 0.34% | COMSTOCK RESOURCES INC SEDOL BD82PS1 | 0.32% | CITRIX SYSTEMS INC SEDOL 2182553 | 0.30% | SENIOR CONNECT ACQUISITION-A SEDOL BN46WK8 | 0.30% | STARWOOD PROPERTY TRUST INC SEDOL B3PQ520 | 0.28% | SWITCHBACK II CORP SEDOL BNK9NC0 | 0.28% | KARAT PACKAGING INC SEDOL BKDZ6W5 | 0.27% | SUMMIT MATERIALS INC -CL A SEDOL BW9JPS4 | 0.26% | LKQ CORP SEDOL 2971029 | 0.26% | COVA ACQUISITION CORP SEDOL BNC4KN3 | 0.24% | CHUY'S HOLDINGS INC SEDOL B88WMY1 | 0.22% | KURA SUSHI USA INC-CLASS A SEDOL BKDV6G7 | 0.18% | RINGCENTRAL INC-CLASS A SEDOL BDZCRX3 | 0.16% | VOR BIOPHARMA INC SEDOL BLCD876 | 0.16% | VORNADO REALTY TRUST SEDOL 2933632 | 0.15% | FIRSTMARK HORIZON ACQUISIT-A SEDOL BMD3YV8 | 0.14% | UPLAND SOFTWARE INC SEDOL BS7K7H4 | 0.13% | SWITCHBACK ENERGY- PIPE P/P | 0.12% | ONESPAWORLD HOLDINGS LTD SEDOL BJY21L2 | 0.10% | CASH MGMT BILL 00.0000 10/05/2021 | 0.10% | BETTER CHOICE CO INC SEDOL BLB1741 | 0.07% | HC BRILLANT SERVICES GMBH P/P | 0.00% |
Portfolio Composition as of 09/30/21
| Common stock | 99.89% |
| Convertible bonds | 0.41% |
| Cash and net other assets | -0.30% |
Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. 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 09/30/21
| Information technology | 27.86% |
|---|---|
| Financials | 15.02% |
| Health care | 12.91% |
| Consumer discretionary | 11.53% |
| Communication services | 9.91% |
| Industrials | 8.35% |
| Consumer staples | 5.23% |
| Real estate | 3.11% |
| Utilities | 2.21% |
| Other | 3.87% |
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