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. companiesSeeks above-average growth: The fund focuses on businesses that exhibit both a high level of growth and an above-average duration of growth.A thematic approach: The portfolio managers combine top-down investment themes with bottom-up research to select securities that can benefit from growth trends.Rigorous analysis: Backed by fundamental research, the managers focus on identifying management teams that act like owners.

Management team

Lipper ranking ‡ as of 08/31/19

Category: Large-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 25% 39/159
1 yr. 7% 13/200
3 yrs. 5% 8/188
5 yrs. 27% 49/184

Risk Characteristics as of 08/31/19

Alpha (%) 3.16
Beta 0.97
R squared 0.97
Standard deviation (3 yrs.) 12.92

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 08/31/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 59
Turnover (fiscal year end) 56%
Net Assets $849M
Inception Date 02/01/00

Holdings

Top 10 holdings as of 08/31/19

Microsoft Corp 9.40%
Amazon.Com 6.05%
Alphabet 5.39%
Apple 4.87%
Visa 4.28%
Paypal Holdings 3.30%
Mastercard 2.86%
Salesforce.Com 2.66%
Home Depot 2.55%
American Tower Corp 2.54%
Top 10 holdings, total: 43.90%

Full Portfolio Holdings as of 06/30/19

MICROSOFT CORP 8.82%
AMAZON.COM INC 5.81%
ALPHABET INC-CL C 5.02%
APPLE INC 4.73%
VISA INC-CLASS A SHARES 4.13%
PAYPAL HOLDINGS INC 3.30%
UNITEDHEALTH GROUP INC 3.15%
MASTERCARD INC - A 2.68%
HOME DEPOT INC 2.43%
SALESFORCE.COM INC 2.38%
DANAHER CORP 2.31%
AMERICAN TOWER CORP 2.27%
LINDE PLC 2.24%
INTERCONTINENTAL EXCHANGE IN 1.96%
COSTAR GROUP INC 1.90%
CHARTER COMMUNICATIONS INC-A 1.82%
ADOBE INC 1.82%
NIKE INC -CL B 1.75%
WORLDPAY INC-CLASS A 1.73%
HONEYWELL INTERNATIONAL INC 1.71%
IDEXX LABORATORIES INC 1.70%
BOOKING HOLDINGS INC 1.66%
NETFLIX INC 1.64%
SHERWIN-WILLIAMS CO/THE 1.62%
LIVE NATION ENTERTAINMENT IN 1.59%
TEXAS INSTRUMENTS INC 1.58%
FACEBOOK INC-CLASS A 1.58%
UNION PACIFIC CORP 1.54%
WASTE CONNECTIONS INC 1.51%
SERVICENOW INC 1.50%
BOEING CO/THE 1.44%
MCCORMICK & CO-NON VTG SHRS 1.32%
IQVIA HOLDINGS INC 1.29%
METTLER-TOLEDO INTERNATIONAL 1.28%
TRANSDIGM GROUP INC 1.26%
NORTHROP GRUMMAN CORP 1.18%
LONZA GROUP AG-REG 1.16%
ROPER TECHNOLOGIES INC 1.10%
LULULEMON ATHLETICA INC 1.03%
WALMART INC 0.99%
AIA GROUP LTD 0.96%
DASSAULT SYSTEMES SA 0.96%
INTUITIVE SURGICAL INC 0.85%
VERTEX PHARMACEUTICALS INC 0.84%
REALPAGE INC 0.84%
PLANET FITNESS INC - CL A 0.81%
DOCUSIGN INC 0.76%
THERMO FISHER SCIENTIFIC INC 0.76%
OKTA INC 0.58%
ICU MEDICAL INC 0.55%
UBER TECH INC P/P CV PFD 0.55%
PINTEREST INC- CLASS A 0.54%
OPORTUN FIN CORP P/P 0.26%
GLOBAL FASHION GRP P/P 0.03%
WYNN 20190816 C 160.00CITI 0.02%
WYNN 20190809 C 160.00CITI 0.01%
TREASURY BILL 00.0000 07/18/2019 0.00%
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%
WYNN 20190809 C 165.00CITI -0.01%
WYNN 20190816 C 165.00CITI -0.01%

Prior top 10 holdings

Top 10 holdings as of 08/31/19
1: Microsoft Corp 9.40%
2: Amazon.Com 6.05%
3: Alphabet 5.39%
4: Apple 4.87%
5: Visa 4.28%
6: Paypal Holdings 3.30%
7: Mastercard 2.86%
8: Salesforce.Com 2.66%
9: Home Depot 2.55%
10: American Tower Corp 2.54%
Holdings represent 43.90% of portfolio
Top 10 holdings as of 07/31/19
1: Microsoft Corp 9.19%
2: Amazon.Com 6.30%
3: Alphabet 5.46%
4: Apple 5.01%
5: Visa 4.17%
6: Paypal Holdings 3.21%
7: Mastercard 2.75%
8: UnitedHealth Group 2.67%
9: Salesforce.Com 2.44%
10: Home Depot 2.38%
Holdings represent 43.58% of portfolio
Top 10 holdings as of 06/30/19
1: Microsoft Corp 8.82%
2: Amazon.Com 5.81%
3: Alphabet 5.02%
4: Apple 4.73%
5: Visa 4.13%
6: Paypal Holdings 3.30%
7: UnitedHealth Group 3.15%
8: Mastercard 2.68%
9: Home Depot The 2.43%
10: Salesforce.Com 2.38%
Holdings represent 42.45% of portfolio
Top 10 holdings as of 05/31/19
1: Microsoft Corp 8.55%
2: Alphabet 5.94%
3: Amazon.Com 5.73%
4: Apple 4.55%
5: Visa 4.06%
6: Paypal Holdings 3.36%
7: UnitedHealth Group 3.31%
8: Mastercard 2.71%
9: American Tower Corp 2.47%
10: Salesforce.Com 2.45%
Holdings represent 43.13% of portfolio

Portfolio Composition as of 08/31/19

Common stock 99.26%
Convertible preferred stock 0.39%
Cash and net other assets 0.35%

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 08/31/19

Information technology 37.40%
Consumer discretionary 13.89%
Health care 12.57%
Industrials 12.44%
Communication services 12.40%
Consumer staples 2.84%
Materials 2.82%
Financials 2.75%
Real estate 2.54%
 
Other
0.35%
Cash and net other assets 0.35%