Putnam Capital Manager

Putnam Research Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in stocks representing the best ideas of Putnam's global equity research analysts. The portfolio typically consists of large, U.S. companies believed to be worth more than their current stock prices indicate. The fund is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking to capitalize on the expertise of Putnam's research teamA best-ideas fund The fund represents the stock selections of Putnam's Global Equity Research Group, whose analysts cover more than 1,000 companies.A flexible strategy The fund can own growth- or value-style stocks, allowing it to seek opportunities regardless of which style is in favor.A rigorous process The fund's experienced managers use rigorous fundamental investment research to oversee the portfolio and manage risk.

Management team

Lipper ranking ‡ as of 05/31/24

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 17% 21/130
1 yr. 7% 14/204
3 yrs. 4% 6/155
5 yrs. 14% 19/142

Risk Characteristics as of 05/31/24

Alpha (%) 1.06
Beta 0.99
R squared 0.99
Standard deviation (3 yrs.) 17.42

‡ 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 05/31/24

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 130
Turnover (fiscal year end) 40%
Net Assets $92M
Inception Date 09/30/98

Holdings

Microsoft Corp 7.25%
Nvidia Corp 5.55%
Apple 5.51%
Amazon.Com 4.21%
Alphabet 4.06%
Meta Platforms 2.71%
Exxon Mobil Corp 2.02%
Advanced Micro Devices 2.01%
Broadcom 1.85%
Qualcomm 1.76%
Top 10 holdings, total: 36.93%


Top 10 holdings as of 05/31/24
1: Microsoft Corp 7.25%
2: Nvidia Corp 5.55%
3: Apple 5.51%
4: Amazon.Com 4.21%
5: Alphabet 4.06%
6: Meta Platforms 2.71%
7: Exxon Mobil Corp 2.02%
8: Advanced Micro Devices 2.01%
9: Broadcom 1.85%
10: Qualcomm 1.76%
Holdings represent 36.93% of portfolio
Top 10 holdings as of 04/30/24
1: Microsoft Corp 7.33%
2: Apple 4.60%
3: Nvidia Corp 4.58%
4: Amazon.Com 4.34%
5: Alphabet 4.01%
6: Meta Platforms 2.61%
7: Exxon Mobil Corp 2.12%
8: Broadcom 1.89%
9: Oracle Corp 1.86%
10: Advanced Micro Devices 1.83%
Holdings represent 35.17% of portfolio
Top 10 holdings as of 03/31/24
1: Microsoft Corp 7.57%
2: Nvidia Corp 4.57%
3: Amazon.Com 4.27%
4: Apple 4.12%
5: Alphabet 3.55%
6: Meta Platforms 2.84%
7: Oracle Corp 2.47%
8: Salesforce 1.88%
9: Exxon Mobil Corp 1.88%
10: Broadcom 1.84%
Holdings represent 35.01% of portfolio
Top 10 holdings as of 02/29/24
1: Microsoft Corp 7.85%
2: Amazon.Com 4.38%
3: Nvidia Corp 4.32%
4: Apple 3.91%
5: Alphabet 3.39%
6: Meta Platforms 3.01%
7: Oracle Corp 2.33%
8: Broadcom 2.32%
9: Salesforce 2.24%
10: Mastercard 1.72%
Holdings represent 35.48% of portfolio


Portfolio Composition as of 05/31/24

Common stock 99.05%
Cash and net other assets 0.95%

Consider these risks before investing: 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.

Sector weightings as of 05/31/24

Information technology 28.92%
Financials 12.28%
Health care 12.25%
Consumer discretionary 11.04%
Communication services 9.01%
Industrials 7.26%
Consumer staples 6.42%
Energy 4.17%
Materials 3.72%
 
Other
4.94%
Utilities 2.99%
Real estate 1.00%
Cash and net other assets 0.95%