Putnam Capital Manager

Putnam Sustainable Future Subaccount

The subaccount seeks long-term capital appreciation.

Fund description

The subaccount employs a value strategy to identify undervalued, high-quality companies among the market's mid-cap offerings. The subaccount's managers seek stocks they believe have been under-estimated by the market. They target profitable, established companies of two kinds: smaller companies that have grown to midsize, and larger companies that have fallen out of favor temporarily but are expected to recover.

Sales story

Investing in growing companies solving sustainability challengesImpact companies: The fund invests in growth companies that directly demonstrate positive impact in social, environmental, or economic development.Active strategy: The managers utilize bottom-up research to identify companies with attractive sustainability, fundamental, and valuation characteristics.Veteran team: A dedicated sustainable investing team is backed by Putnam's equity research and quantitative/risk analysis groups.

Management team

Lipper ranking ‡ as of 04/30/19

Category: Multi-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 85% 59/69
1 yr. 66% 54/82
3 yrs. 94% 78/82
5 yrs. 93% 75/80

Risk Characteristics as of 04/30/19

Alpha (%) -1.14
Beta 0.89
R squared 0.94
Standard deviation (3 yrs.) 12.09

The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.

‡ 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 04/30/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 57
Turnover (fiscal year end) 99%
Net Assets $34M
Inception Date 05/01/03

Holdings

Top 10 holdings as of 04/30/19

Salesforce.Com 4.49%
Danaher Corp 4.30%
Unilever 4.02%
Mccormick Md 3.71%
Mastercard 3.22%
Novozymes A/S - B Shares 3.20%
Adobe 3.19%
First Republic Bank/Ca 3.11%
Vail Resorts 3.11%
Becton Dickinson And 2.93%
Top 10 holdings, total: 35.28%

Full Portfolio Holdings as of 03/31/19

SALESFORCE.COM INC 4.71%
DANAHER CORP 4.33%
UNILEVER PLC 3.82%
MCCORMICK & CO-NON VTG SHRS 3.67%
EVERBRIDGE INC 3.58%
ADOBE INC 3.56%
ALPHABET INC-CL A 3.21%
NOVOZYMES A/S-B SHARES 3.18%
BECTON DICKINSON AND CO 3.07%
FORTIVE CORP 3.01%
MASTERCARD INC - A 3.01%
FIRST REPUBLIC BANK/CA 2.99%
VAIL RESORTS INC 2.98%
CHIPOTLE MEXICAN GRILL INC 2.90%
PENUMBRA INC 2.74%
WEBSTER FINANCIAL CORP 2.34%
BLACKROCK INC 2.23%
TELADOC HEALTH INC 2.08%
CHR HANSEN HOLDING A/S 2.04%
EDWARDS LIFESCIENCES CORP 1.95%
ADIDAS AG 1.78%
NEXTERA ENERGY INC 1.77%
PRUDENTIAL PLC 1.76%
DXC TECHNOLOGY CO 1.73%
MSCI INC 1.72%
DOCUSIGN INC 1.59%
ON SEMICONDUCTOR CORP 1.56%
BALL CORP 1.46%
JAZZ PHARMACEUTICALS PLC 1.46%
VERTEX PHARMACEUTICALS INC 1.32%
INTERFACE INC 1.30%
TALEND SA - ADR 1.27%
NXP SEMICONDUCTORS NV 1.22%
EURAZEO SE 1.15%
PLURALSIGHT INC - A 1.15%
FIRST SOLAR INC 1.11%
BIO-RAD LABORATORIES-A 1.05%
HEALTHEQUITY INC 1.05%
APPLIED MATERIALS INC 1.00%
XYLEM INC 0.99%
SUNRUN INC 0.89%
ASML HOLDING NV-NY REG SHS 0.82%
GODADDY INC - CLASS A 0.75%
BANDWIDTH INC-CLASS A 0.73%
EVENTBRITE INC-CLASS A 0.67%
GALAPAGOS NV-SPON ADR 0.66%
ECOLAB INC 0.62%
MEDICINES COMPANY 0.56%
BLUEBIRD BIO INC 0.48%
TJX COMPANIES INC 0.46%
OWENS CORNING 0.41%
STITCH FIX INC-CLASS A 0.41%
CLOVIS ONCOLOGY INC 0.26%
LYFT INC-A 0.10%
GBP/USD 06/19/2019 BANKAM 0.00%
GBP/USD 06/19/2019 BCAP-FX 0.00%
POUND STERLING CALL ACCOUNT 0.00%
EUR/USD 06/19/2019 BANKAM -0.01%

Prior top 10 holdings

Top 10 holdings as of 04/30/19
1: Salesforce.Com 4.49%
2: Danaher Corp 4.30%
3: Unilever 4.02%
4: Mccormick Md 3.71%
5: Mastercard 3.22%
6: Novozymes A/S - B Shares 3.20%
7: Adobe 3.19%
8: First Republic Bank/Ca 3.11%
9: Vail Resorts 3.11%
10: Becton Dickinson And 2.93%
Holdings represent 35.28% of portfolio
Top 10 holdings as of 03/31/19
1: Salesforce.Com 4.71%
2: Danaher Corp 4.33%
3: Unilever 3.82%
4: Mccormick Md 3.67%
5: Everbridge 3.58%
6: Adobe 3.56%
7: Alphabet 3.21%
8: Novozymes A/S - B Shares 3.18%
9: BD Medical 3.07%
10: Fortive Corp 3.01%
Holdings represent 36.14% of portfolio
Top 10 holdings as of 02/28/19
1: Salesforce.Com 4.80%
2: Danaher Corp 4.11%
3: Becton Dickinson And 3.58%
4: Unilever 3.51%
5: Adobe 3.46%
6: Everbridge 3.28%
7: Mccormick Md 3.26%
8: Novozymes A/S - B Shares 3.10%
9: First Republic Bank/Ca 3.07%
10: Alphabet 3.03%
Holdings represent 35.20% of portfolio
Top 10 holdings as of 01/31/19
1: Salesforce.Com 4.58%
2: Becton Dickinson And 4.40%
3: Danaher Corp 3.69%
4: Everbridge 3.52%
5: Unilever 3.43%
6: Adobe 3.35%
7: Alphabet 3.07%
8: Mccormick Md 3.05%
9: Novozymes A/S - B Shares 2.93%
10: First Republic Bank/Ca 2.89%
Holdings represent 34.91% of portfolio

Portfolio Composition as of 04/30/19

Common stock 96.22%
Cash and net other assets 3.78%

Portfolio allocations 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. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.

Top Industry Sectors as of 04/30/19

Information technology 26.88%
Health care 20.17%
Financials 13.13%
Consumer discretionary 8.29%
Materials 8.13%
Consumer staples 7.73%
Industrials 6.12%
Communication services 4.01%
Cash and net other assets 3.78%
 
Other
1.76%
Utilities 1.76%