Putnam Capital Manager

Putnam Growth Opportunities Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in large U.S. companies with strong revenue and earnings growth prospects. Members of the management team target established companies that are believed to be leaders in their industries with the potential to grow rapidly. The fund's portfolio typically includes world-renowned businesses whose size and scale give them a competitive advantage.

Sales story

Seeking to harness the growth potential of large U.S. companiesA large-company focus: The fund invests in large U.S. companies, targeting those with a competitive edge in markets around the world and the potential to produce strong profits.A rigorous process: The fund's manager uses rigorous fundamental investment research to find opportunities and manage risk.A focus on quality: The manager seeks companies with solid management, sound financials, and products or services that are benefiting from growing demand.

Management team

Lipper ranking ‡ as of 10/31/18

Category: Large-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 24% 38/160
1 yr. 18% 35/203
3 yrs. 9% 16/192
5 yrs. 24% 45/187

Risk Characteristics as of 10/31/18

Alpha (%) 0.04
Beta 1.05
R squared 0.95
Standard deviation (3 yrs.) 11.69

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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. Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

‡ 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 10/31/18

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 56
Turnover (fiscal year end) 59%
Net Assets $800M
Inception Date 02/01/00

Holdings

Top 10 holdings as of 10/31/18

Microsoft Corp 7.93%
Apple 6.84%
Alphabet 6.44%
Amazon.Com 4.35%
Visa 4.12%
UnitedHealth Group 2.87%
Paypal Holdings 2.74%
Boeing The 2.53%
American Tower Corp 2.40%
Charter Communications 2.38%
Top 10 holdings, total: 42.60%

Equity Holdings as of 09/30/18

MICROSOFT CORP 7.72%
AMAZON.COM INC 7.49%
ALPHABET INC-CL C 6.50%
APPLE INC 5.16%
VISA INC-CLASS A SHARES 4.20%
UNITEDHEALTH GROUP INC 2.76%
BOEING CO/THE 2.54%
BECTON DICKINSON AND CO 2.52%
SALESFORCE.COM INC 2.52%
HOME DEPOT INC 2.48%
PAYPAL HOLDINGS INC 2.46%
UNION PACIFIC CORP 2.36%
CHARTER COMMUNICATIONS INC-A 2.22%
DANAHER CORP 2.07%
MCCORMICK & CO-NON VTG SHRS 2.06%
AMERICAN TOWER CORP 2.03%
SHERWIN-WILLIAMS CO/THE 2.02%
RAYTHEON COMPANY 1.93%
ADOBE SYSTEMS INC 1.89%
INTERCONTINENTAL EXCHANGE IN 1.81%
PRAXAIR INC 1.72%
SERVICENOW INC 1.71%
VERTEX PHARMACEUTICALS INC 1.67%
NIKE INC -CL B 1.63%
ACTIVISION BLIZZARD INC 1.53%
LIVE NATION ENTERTAINMENT IN 1.44%
COSTAR GROUP INC 1.37%
FACEBOOK INC-A 1.35%
FORTIVE CORP 1.35%
WORLDPAY INC-CLASS A 1.26%
ALEXION PHARMACEUTICALS INC 1.25%
HONEYWELL INTERNATIONAL INC 1.19%
BOSTON SCIENTIFIC CORP 1.16%
INTUITIVE SURGICAL INC 1.16%
TRANSDIGM GROUP INC 1.10%
WASTE CONNECTIONS INC 1.06%
METTLER-TOLEDO INTERNATIONAL 1.04%
BLACKROCK INC 1.03%
PRUDENTIAL PLC 1.02%
WALMART INC 1.00%
REALPAGE INC 0.95%
BIOGEN INC 0.92%
NETFLIX INC 0.89%
WYNN RESORTS LTD 0.83%
BIOMARIN PHARMACEUTICAL INC 0.79%
HILTON WORLDWIDE HOLDINGS IN 0.78%
OKTA INC 0.78%
ROPER TECHNOLOGIES INC 0.74%
COOPER COS INC/THE 0.66%
DOCUSIGN INC 0.55%
UBER TECH INC P/P CV PFD 0.51%
LIBERTY MEDIA CORP-LIBERTY-C 0.47%
OPORTUN FIN CORP P/P 0.23%
GLOBAL FASHION GRP P/P 0.05%
HC BRILLANT SERVICES GMBH P/P 0.00%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%

Full Portfolio Holdings as of 09/30/18

MICROSOFT CORP 7.72%
AMAZON.COM INC 7.49%
ALPHABET INC-CL C 6.50%
APPLE INC 5.16%
VISA INC-CLASS A SHARES 4.20%
UNITEDHEALTH GROUP INC 2.76%
BOEING CO/THE 2.54%
BECTON DICKINSON AND CO 2.52%
SALESFORCE.COM INC 2.52%
HOME DEPOT INC 2.48%
PAYPAL HOLDINGS INC 2.46%
UNION PACIFIC CORP 2.36%
CHARTER COMMUNICATIONS INC-A 2.22%
DANAHER CORP 2.07%
MCCORMICK & CO-NON VTG SHRS 2.06%
AMERICAN TOWER CORP 2.03%
SHERWIN-WILLIAMS CO/THE 2.02%
RAYTHEON COMPANY 1.93%
ADOBE SYSTEMS INC 1.89%
INTERCONTINENTAL EXCHANGE IN 1.81%
PRAXAIR INC 1.72%
SERVICENOW INC 1.71%
VERTEX PHARMACEUTICALS INC 1.67%
NIKE INC -CL B 1.63%
ACTIVISION BLIZZARD INC 1.53%
LIVE NATION ENTERTAINMENT IN 1.44%
COSTAR GROUP INC 1.37%
FACEBOOK INC-A 1.35%
FORTIVE CORP 1.35%
WORLDPAY INC-CLASS A 1.26%
ALEXION PHARMACEUTICALS INC 1.25%
HONEYWELL INTERNATIONAL INC 1.19%
BOSTON SCIENTIFIC CORP 1.16%
INTUITIVE SURGICAL INC 1.16%
TRANSDIGM GROUP INC 1.10%
WASTE CONNECTIONS INC 1.06%
METTLER-TOLEDO INTERNATIONAL 1.04%
BLACKROCK INC 1.03%
PRUDENTIAL PLC 1.02%
WALMART INC 1.00%
REALPAGE INC 0.95%
BIOGEN INC 0.92%
NETFLIX INC 0.89%
WYNN RESORTS LTD 0.83%
BIOMARIN PHARMACEUTICAL INC 0.79%
HILTON WORLDWIDE HOLDINGS IN 0.78%
OKTA INC 0.78%
ROPER TECHNOLOGIES INC 0.74%
COOPER COS INC/THE 0.66%
DOCUSIGN INC 0.55%
UBER TECH INC P/P CV PFD 0.51%
LIBERTY MEDIA CORP-LIBERTY-C 0.47%
OPORTUN FIN CORP P/P 0.23%
GLOBAL FASHION GRP P/P 0.05%
CANADIAN DOLLAR ACCOUNT 0.00%
GBP/USD 12/19/2018 BANKAM 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 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 10/31/18
1: Microsoft Corp 7.93%
2: Apple 6.84%
3: Alphabet 6.44%
4: Amazon.Com 4.35%
5: Visa 4.12%
6: UnitedHealth Group 2.87%
7: Paypal Holdings 2.74%
8: Boeing The 2.53%
9: American Tower Corp 2.40%
10: Charter Communications 2.38%
Holdings represent 42.60% of portfolio
Top 10 holdings as of 09/30/18
1: Microsoft Corp 7.72%
2: Amazon.Com 7.49%
3: Alphabet 6.50%
4: Apple 5.16%
5: Visa 4.20%
6: UnitedHealth Group 2.76%
7: Boeing The 2.54%
8: Salesforce.Com 2.52%
9: Becton Dickinson And 2.52%
10: Home Depot The 2.48%
Holdings represent 43.89% of portfolio
Top 10 holdings as of 08/31/18
1: Microsoft Corp 7.70%
2: Amazon.Com 7.64%
3: Alphabet 6.75%
4: Apple 5.27%
5: Visa 4.17%
6: UnitedHealth Group 2.84%
7: Paypal Holdings 2.60%
8: Becton Dickinson And 2.55%
9: Salesforce.Com 2.44%
10: Home Depot The 2.42%
Holdings represent 44.38% of portfolio
Top 10 holdings as of 07/31/18
1: Microsoft Corp 7.54%
2: Alphabet 6.99%
3: Amazon 6.99%
4: Apple 4.56%
5: Visa 4.02%
6: UnitedHealth Group 2.78%
7: Becton Dickinson and Co 2.69%
8: Home Depot 2.47%
9: Charter Communications 2.41%
10: Boeing 2.40%
Holdings represent 42.85% of portfolio

Portfolio Composition as of 10/31/18

Common stock 96.78%
Cash and net other assets 2.66%
Convertible preferred stock 0.56%

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

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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. Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

Top Industry Sectors as of 10/31/18

Information technology 31.26%
Health care 15.59%
Communication services 14.38%
Industrials 13.37%
Consumer discretionary 9.48%
Materials 4.14%
Consumer staples 3.44%
Financials 3.28%
Cash and net other assets 2.66%
 
Other
2.40%
Real estate 2.40%