As of September 14, 2018, Putnam VT Capital Opportunities Fund was renamed Putnam VT Small Cap Growth Fund.

Putnam Capital Manager

Putnam Small Cap Growth Subaccount

The subaccount seeks long-term growth of capital.

Fund description

The subaccount invests primarily in small and midsize companies, seeking hidden opportunities in stocks with growth potential that has been relatively unnoticed by investors. The portfolio can own growth and value stocks without a bias toward either style.

Sales story

Seeking opportunities in small and midsize companiesSmaller companies: Often overlooked by Wall Street analysts, the stocks of smaller companies can represent attractive opportunities to firms with strong research capabilities.A flexible strategy: The fund can own growth- or value-style stocks, allowing it to seek opportunities regardless of which style is in favor.Differentiated research: The portfolio managers select stocks in a collaborative effort that emphasizes non-consensus critical thinking.

Management team

Lipper ranking ‡ as of 01/31/20

Category: Small-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 96% 79/82
1 yr. 4% 4/102
3 yrs. 82% 81/98
5 yrs. 88% 86/97

The subaccount invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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.

‡ 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 01/31/20

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 85
Turnover (fiscal year end) 138%
Net Assets $28M
Inception Date 05/01/03

Holdings

Cable One 3.11%
Mercury Systems 2.55%
Trex 2.53%
Hamilton Lane 2.51%
Planet Fitness 2.51%
Novanta 2.35%
Five Below 2.26%
Everbridge 2.22%
Paylocity Holding Corp 2.20%
Heico Corp 2.20%
Top 10 holdings, total: 24.44%


Top 10 holdings as of 01/31/20
1: Cable One 3.11%
2: Mercury Systems 2.55%
3: Trex 2.53%
4: Hamilton Lane 2.51%
5: Planet Fitness 2.51%
6: Novanta 2.35%
7: Five Below 2.26%
8: Everbridge 2.22%
9: Paylocity Holding Corp 2.20%
10: Heico Corp 2.20%
Holdings represent 24.44% of portfolio
Top 10 holdings as of 12/31/19
1: Five Below 3.13%
2: Cable One 2.81%
3: Planet Fitness 2.41%
4: Trex 2.40%
5: Mercury Systems 2.38%
6: Novanta 2.37%
7: Hamilton Lane 2.34%
8: Heico Corp 2.08%
9: Quidel Corp 2.06%
10: Bright Horizons Family Solutions 2.04%
Holdings represent 24.02% of portfolio
Top 10 holdings as of 11/30/19
1: Five Below 3.04%
2: Cable One 2.91%
3: Mercury Systems 2.47%
4: Novanta 2.46%
5: Planet Fitness 2.39%
6: Heico Corp 2.32%
7: Trex 2.28%
8: Hamilton Lane 2.26%
9: Everbridge 2.20%
10: Bright Horizons Family Solutions 2.00%
Holdings represent 24.33% of portfolio
Top 10 holdings as of 10/31/19
1: Five Below 3.25%
2: Bright Horizons Family Solutions 2.89%
3: Mercury Systems 2.88%
4: Cable One 2.65%
5: Novanta 2.58%
6: Wingstop 2.50%
7: Trex 2.46%
8: Hamilton Lane 2.46%
9: Realpage 2.38%
10: Heico Corp 2.32%
Holdings represent 26.37% of portfolio


Portfolio Composition as of 01/31/20

Common stock 99.09%
Cash and net other assets 0.91%

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.

The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 01/31/20

Health care 31.28%
Information technology 22.67%
Industrials 17.25%
Consumer discretionary 13.53%
Financials 6.40%
Communication services 3.11%
Real estate 3.10%
Materials 1.18%
Cash and net other assets 0.91%
 
Other
0.57%
Unclassified 0.57%