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 04/30/19

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 24% 27/114
1 yr. 87% 140/161
3 yrs. 34% 51/150
5 yrs. 69% 99/144

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 04/30/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 125
Turnover (fiscal year end) 34%
Net Assets $263M
Inception Date 05/01/98

Holdings

Top 10 holdings as of 04/30/19

Microsoft Corp 6.00%
Apple 4.43%
JPMorgan Chase 2.62%
Bank Of America Corp 2.56%
Alphabet 2.40%
Cisco Systems 2.35%
Amazon 2.24%
Visa 1.70%
Walmart 1.66%
Citigroup 1.63%
Top 10 holdings, total: 27.59%

Full Portfolio Holdings as of 03/31/19

MICROSOFT CORP 5.62%
APPLE INC 4.34%
JPMORGAN CHASE & CO 2.47%
ALPHABET INC-CL C 2.45%
BANK OF AMERICA CORP 2.39%
CISCO SYSTEMS INC 2.35%
AMAZON.COM INC 2.15%
VISA INC-CLASS A SHARES 1.68%
WALMART INC 1.63%
AMGEN INC 1.52%
CITIGROUP INC 1.49%
INDUSTRIAL SELECT SECT SPDR 1.46%
BERKSHIRE HATHAWAY INC-CL B 1.45%
JOHNSON & JOHNSON 1.40%
FACEBOOK INC-CLASS A 1.38%
UNITEDHEALTH GROUP INC 1.37%
COMCAST CORP-CLASS A 1.35%
INTEL CORP 1.35%
GOLDMAN SACHS GROUP INC 1.23%
HEALTH CARE SELECT SECTOR SPDR 1.20%
ROYAL DUTCH SHELL-SPON ADR-A 1.19%
BOEING CO/THE 1.17%
NRG ENERGY INC 1.15%
ORACLE CORP 1.10%
CONOCOPHILLIPS 1.09%
WALT DISNEY CO/THE 1.05%
EXELON CORP 1.03%
UNION PACIFIC CORP 0.99%
LOWES COMPANIES INC 0.97%
PEPSICO INC 0.96%
HONEYWELL INTERNATIONAL INC 0.93%
PROCTER & GAMBLE CO/THE 0.91%
PULTEGROUP INC 0.89%
AT&T INC 0.88%
BAXTER INTERNATIONAL INC 0.86%
HCA HEALTHCARE INC 0.86%
BEST BUY CO INC 0.82%
NORFOLK SOUTHERN CORP 0.82%
CAPITAL ONE FINANCIAL CORP 0.81%
GILEAD SCIENCES INC 0.80%
KINDER MORGAN INC 0.78%
LIVE NATION ENTERTAINMENT IN 0.78%
MERCK & CO. INC. 0.77%
CATERPILLAR INC 0.76%
TARGET CORP 0.76%
RAYMOND JAMES FINANCIAL INC 0.75%
ENTERGY CORP 0.74%
PFIZER INC 0.74%
HOME DEPOT INC 0.73%
LAM RESEARCH CORP 0.73%
SOUTHWEST AIRLINES CO 0.73%
WELLS FARGO & CO 0.71%
REPUBLIC SERVICES INC 0.69%
CELANESE CORP 0.67%
AMERIPRISE FINANCIAL INC 0.66%
SPDR S&P HOMEBUILDERS ETF 0.65%
BIOGEN INC 0.64%
ENTERPRISE PRODUCTS PARTNERS 0.64%
INTL BUSINESS MACHINES CORP 0.63%
EQUITY COMMONWEALTH 0.62%
VALERO ENERGY CORP 0.60%
JAZZ PHARMACEUTICALS PLC 0.59%
DOWDUPONT INC 0.58%
GENERAL MOTORS CO 0.58%
MAGNA INTERNATIONAL INC 0.57%
KROGER CO 0.56%
MOLSON COORS BREWING CO -B 0.56%
MORGAN STANLEY 0.56%
CBRE GROUP INC - A 0.55%
DXC TECHNOLOGY CO 0.55%
HP INC 0.53%
LINCOLN NATIONAL CORP 0.53%
AIR CANADA 0.52%
WALGREENS BOOTS ALLIANCE INC 0.52%
ASSURED GUARANTY LTD 0.51%
MGM RESORTS INTERNATIONAL 0.51%
KENNEDY-WILSON HOLDINGS INC 0.50%
MCKESSON CORP 0.50%
ADOBE INC 0.49%
HYATT HOTELS CORP - CL A 0.49%
MICRON TECHNOLOGY INC 0.48%
EASTERLY GOVERNMENT PROPERTI 0.47%
SUNCOR ENERGY INC 0.47%
ARMADA HOFFLER PROPERTIES IN 0.46%
FREEPORT-MCMORAN INC 0.46%
MARATHON OIL CORP 0.45%
TENET HEALTHCARE CORP 0.45%
BOOKING HOLDINGS INC 0.44%
COCA-COLA CO/THE 0.44%
CVS HEALTH CORP 0.44%
PIRELLI & C SPA 0.44%
AMERICAN AIRLINES GROUP INC 0.42%
APOLLO GLOBAL MANAGEMENT - A 0.40%
KKR & CO INC -A 0.40%
TPG PACE HOLDINGS CORP 0.39%
EXXON MOBIL CORP 0.38%
QUALCOMM INC 0.37%
ENCANA CORP 0.30%
SIRIUS INTERNATIONAL INSURAN 0.29%
J2 ACQUISITION LTD 0.28%
MICHAELS COS INC/THE 0.28%
DELIVERY HERO AG 0.26%
DIAMONDBACK ENERGY INC 0.26%
BANK OF NEW YORK MELLON CORP 0.25%
RADIAN GROUP INC 0.25%
LIBERTY GLOBAL PLC-A 0.24%
PLAINS GP HOLDINGS LP-CL A 0.23%
ALIGNVEST ACQUISITION II C-A 0.20%
BLOOMIN' BRANDS INC 0.19%
CAPITOL INVESTMENT CORP IV 0.18%
ORION ENGINEERED CARBONS SA 0.17%
DEUTSCHE BANK AG-REGISTERED 0.16%
DISCOVERY INC - A 0.15%
HILLTOP HOLDINGS INC 0.14%
KIMBELL ROYALTY PARTNERS LP 0.14%
GREEN BRICK PARTNERS INC 0.12%
BRIGHTVIEW HOLDINGS INC 0.10%
US XPRESS ENTERPRISES INC -A 0.10%
PRIORITY TECHNOLOGY HOLDINGS 0.07%
LARGO RESOURCES LTD 0.06%
GLOBAL FASHION GRP P/P 0.02%
ONESPAWORLD HOLDINGS LTD 0.02%
J2 ACQUISITION LTD-CW20 0.01%
RA MEDICAL SYSTEMS INC 0.01%
SIRIUS INTERNATIONAL-CW23 0.01%
ALIGNVEST ACQUISITION - CW22 0.00%
BA 20190621 C 430.00CITI 0.00%
BAC 20190621 C 32.00UBS 0.00%
EPD 20190621 C 30.00BCBP 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%
POUND STERLING CALL ACCOUNT 0.00%
THE EURO EUR CALL ACCOUNT 0.00%

Prior top 10 holdings

Top 10 holdings as of 04/30/19
1: Microsoft Corp 6.00%
2: Apple 4.43%
3: JPMorgan Chase 2.62%
4: Bank Of America Corp 2.56%
5: Alphabet 2.40%
6: Cisco Systems 2.35%
7: Amazon 2.24%
8: Visa 1.70%
9: Walmart 1.66%
10: Citigroup 1.63%
Holdings represent 27.59% of portfolio
Top 10 holdings as of 03/31/19
1: Microsoft Corp 5.62%
2: Apple 4.34%
3: Alphabet 2.55%
4: JPMorgan Chase 2.47%
5: Bank Of America Corp 2.39%
6: Cisco Systems 2.35%
7: Amazon.Com 2.15%
8: Visa 1.68%
9: Walmart 1.63%
10: Amgen 1.52%
Holdings represent 26.70% of portfolio
Top 10 holdings as of 02/28/19
1: Microsoft Corp 5.31%
2: Apple 3.94%
3: JPMorgan Chase 2.78%
4: Bank Of America Corp 2.51%
5: Alphabet 2.42%
6: Cisco Systems 2.24%
7: Amazon.Com 1.97%
8: Boeing The 1.67%
9: Walmart 1.65%
10: Visa 1.58%
Holdings represent 26.07% of portfolio
Top 10 holdings as of 01/31/19
1: Microsoft Corp 5.09%
2: Apple 3.90%
3: JPMorgan Chase 3.07%
4: Bank Of America Corp 2.53%
5: Alphabet 2.48%
6: Amazon.Com 2.12%
7: Cisco Systems 2.11%
8: Walmart 1.64%
9: Citigroup 1.58%
10: Pfizer 1.54%
Holdings represent 26.06% of portfolio

Portfolio Composition as of 04/30/19

Common stock 97.23%
Cash and net other assets 2.77%

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 04/30/19

Information technology 20.99%
Financials 17.24%
Consumer discretionary 11.20%
Health care 10.99%
Communication services 8.80%
Industrials 8.73%
Energy 6.56%
Consumer staples 5.53%
Cash and net other assets 2.77%
 
Other
7.19%
Utilities 2.68%
Real estate 2.55%
Materials 1.96%