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 02/28/21

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 14% 16/120
1 yr. 31% 48/158
3 yrs. 17% 26/152
5 yrs. 11% 15/140

Risk Characteristics as of 02/28/21

Alpha (%) 1.04
Beta 0.98
R squared 0.99
Standard deviation (3 yrs.) 17.98

‡ 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 03/31/21

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 141
Turnover (fiscal year end) 74%
Net Assets $56M
Inception Date 09/30/98

Holdings

Microsoft Corp 5.78%
Apple 4.54%
Amazon.Com 4.35%
Alphabet 4.00%
Paypal Holdings 2.10%
Nxp Semiconductors Nv 1.77%
Citigroup 1.77%
Activision Blizzard 1.71%
Facebook 1.66%
Home Depot The 1.65%
Top 10 holdings, total: 29.33%


Top 10 holdings as of 02/28/21
1: Microsoft Corp 5.78%
2: Apple 4.54%
3: Amazon.Com 4.35%
4: Alphabet 4.00%
5: Paypal Holdings 2.10%
6: Nxp Semiconductors Nv 1.77%
7: Citigroup 1.77%
8: Activision Blizzard 1.71%
9: Facebook 1.66%
10: Home Depot The 1.65%
Holdings represent 29.33% of portfolio
Top 10 holdings as of 01/31/21
1: Microsoft Corp 6.01%
2: Apple 5.15%
3: Amazon.Com 4.74%
4: Alphabet 3.53%
5: Paypal Holdings 2.06%
6: Facebook 1.77%
7: Activision Blizzard 1.76%
8: Home Depot The 1.73%
9: Procter Gamble The 1.70%
10: Tesla 1.67%
Holdings represent 30.12% of portfolio
Top 10 holdings as of 12/31/20
1: Microsoft Corp 5.49%
2: Amazon.Com 4.76%
3: Apple 4.48%
4: Alphabet 3.34%
5: Paypal Holdings 2.04%
6: Facebook 1.85%
7: Procter Gamble The 1.83%
8: Citigroup 1.74%
9: Activision Blizzard 1.70%
10: Adobe 1.69%
Holdings represent 28.92% of portfolio
Top 10 holdings as of 11/30/20
1: Microsoft Corp 5.47%
2: Amazon.Com 4.79%
3: Apple 4.16%
4: Alphabet 3.47%
5: Facebook 2.09%
6: Paypal Holdings 1.93%
7: Procter Gamble The 1.91%
8: Fiserv 1.75%
9: Home Depot The 1.72%
10: Nxp Semiconductors Nv 1.68%
Holdings represent 28.97% of portfolio


Portfolio Composition as of 02/28/21

Common stock 96.24%
Cash and net other assets 3.58%
Convertible preferred stock 0.18%

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.

Top Industry Sectors as of 02/28/21

Information technology 25.54%
Health care 12.65%
Consumer discretionary 12.61%
Financials 11.14%
Communication services 9.96%
Industrials 9.32%
Consumer staples 5.73%
Cash and net other assets 3.58%
Utilities 2.95%
 
Other
6.52%
Materials 2.78%
Energy 2.53%
Real estate 1.21%