Putnam Capital Manager

Putnam Global Equity Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount targets midsize and large industry leaders with consistent earnings growth improvement and the likelihood of positive earnings surprises. The fund managers seek companies in the U.S. and abroad with high rates of growth and dominant market share.

Sales story

Selecting companies around the world that are attractive for investorsEstablished companies: The fund invests in large and midsize companies in the United States and developed international markets to benefit from global opportunities.A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads global markets.Building competitive portfolios: The portfolio manager uses fundamental research as the cornerstone of the investment process. This research is supported by quantitative tools and macroeconomic analysis.

Management team

Lipper ranking ‡ as of 01/31/19

Category: Global Multi-Cap Growth

  Percentile ranking Rank/Funds in category
10 yrs. 67% 12/17
1 yr. 89% 22/24
3 yrs. 83% 19/22
5 yrs. 86% 18/20

Risk Characteristics as of 01/31/19

Alpha (%) -2.08
Beta 1.04
R squared 0.91
Standard deviation (3 yrs.) 11.46

International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. 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 01/31/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 89
Turnover (fiscal year end) 53%
Net Assets $146M
Inception Date 05/01/90

Holdings

Top 10 holdings as of 01/31/19

Nrg Energy 4.02%
Alphabet 3.09%
Assured Guaranty 3.02%
Amazon.Com 2.47%
Becton Dickinson And 2.31%
Unilever Nv 2.31%
Ball Corp 2.14%
Boston Scientific Corp 1.99%
Cenovus Energy 1.71%
Nomad Foods 1.70%
Top 10 holdings, total: 24.76%

Equity Holdings as of 12/31/18

NRG ENERGY INC 4.17%
ALPHABET INC-CL C 3.07%
ASSURED GUARANTY LTD 3.05%
UNILEVER NV-CVA 2.52%
AMAZON.COM INC 2.31%
BECTON DICKINSON AND CO 2.23%
BALL CORP 2.01%
BOSTON SCIENTIFIC CORP 1.97%
ADVANCE AUTO PARTS 1.78%
COMPASS GROUP PLC 1.69%
NOMAD FOODS LTD 1.65%
CENOVUS ENERGY INC 1.64%
PERNOD RICARD SA 1.58%
BANK OF AMERICA CORP 1.44%
KINDER MORGAN INC 1.44%
SERVICENOW INC 1.44%
UNION PACIFIC CORP 1.42%
SUNCOR ENERGY INC 1.40%
FAIRFAX FINANCIAL HLDGS LTD 1.33%
VISA INC-CLASS A SHARES 1.33%
DANAHER CORP 1.25%
UNIVERSAL ENTERTAINMENT CORP 1.23%
SHISEIDO CO LTD 1.19%
HILTON WORLDWIDE HOLDINGS IN 1.16%
PIRELLI & C SPA 1.15%
ASAHI GROUP HOLDINGS LTD 1.14%
ENTERPRISE PRODUCTS PARTNERS 1.14%
EURAZEO SE 1.11%
LENNAR CORP-A 1.11%
CIGNA CORP 1.10%
SHERWIN-WILLIAMS CO/THE 1.10%
MICROSOFT CORP 1.08%
PALTAC CORPORATION 1.07%
ADOBE INC 1.06%
LIVE NATION ENTERTAINMENT IN 1.06%
DXC TECHNOLOGY CO 1.05%
CHENIERE ENERGY INC 1.04%
KYUDENKO CORP 1.03%
PRUDENTIAL PLC 1.03%
GODADDY INC - CLASS A 1.02%
FIRST DATA CORP- CLASS A 1.01%
YELLOW CAKE PLC 0.99%
CONOCOPHILLIPS 0.98%
KENNEDY-WILSON HOLDINGS INC 0.98%
COCA-COLA CO/THE 0.95%
HERSHEY CO/THE 0.95%
NXP SEMICONDUCTORS NV 0.95%
RADIAN GROUP INC 0.95%
LOWES COMPANIES INC 0.94%
SUMMIT MATERIALS INC -CL A 0.94%
EMERSON ELECTRIC CO 0.92%
TOSHIBA CORP 0.92%
SCREEN HOLDINGS CO LTD 0.91%
VERTEX PHARMACEUTICALS INC 0.91%
TEXTRON INC 0.90%
L3 TECHNOLOGIES INC 0.89%
REALPAGE INC 0.89%
BAYER AG-REG 0.85%
OPEN HOUSE CO LTD 0.85%
UBER TECH INC P/P CV PFD 0.85%
EDELWEISS FINANCIAL SERVICES 0.83%
PIONEER NAT RES CO 0.83%
JOHNSON CONTROLS INTERNATION 0.82%
SIG COMBIBLOC GROUP 0.81%
ASSOCIATED BRITISH FOODS PLC 0.79%
BANK OF IRELAND GROUP PLC 0.79%
E*TRADE FINANCIAL CORPORATION 0.79%
ICU MEDICAL INC 0.79%
SINO-AMERICAN SILICON PRODUC 0.79%
QBE INSURANCE GROUP LTD 0.78%
ACTIVISION BLIZZARD INC 0.77%
ASTRAZENECA PLC 0.74%
HIBERNIA REIT PLC 0.72%
DALATA HOTEL GROUP PLC 0.71%
SAMSUNG ELECTRONICS CO LTD 0.70%
CHALLENGER LTD 0.69%
KKR & CO INC -A 0.68%
SEVEN GENERATIONS ENERGY - A 0.68%
JAZZ PHARMACEUTICALS PLC 0.65%
KION GROUP AG 0.65%
COMPUGROUP MEDICAL SE 0.59%
INSTRUCTURE INC 0.59%
NINTENDO CO LTD 0.58%
ASHTEAD GROUP PLC 0.56%
ASSA ABLOY AB-B 0.46%
ALCOA CORP 0.40%
REALOGY HOLDINGS CORP 0.36%
GLOBAL FASHION GRP P/P 0.04%
GLOBAL FASHION GRP 0.03%
HC BRILLANT SERVICES GMBH P/P 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 12/31/18

NRG ENERGY INC 4.17%
ALPHABET INC-CL C 3.07%
ASSURED GUARANTY LTD 3.05%
UNILEVER NV-CVA 2.52%
AMAZON.COM INC 2.31%
BECTON DICKINSON AND CO 2.23%
BALL CORP 2.01%
BOSTON SCIENTIFIC CORP 1.97%
ADVANCE AUTO PARTS 1.78%
COMPASS GROUP PLC 1.69%
NOMAD FOODS LTD 1.65%
CENOVUS ENERGY INC 1.64%
PERNOD RICARD SA 1.58%
BANK OF AMERICA CORP 1.44%
KINDER MORGAN INC 1.44%
SERVICENOW INC 1.44%
UNION PACIFIC CORP 1.42%
SUNCOR ENERGY INC 1.40%
FAIRFAX FINANCIAL HLDGS LTD 1.33%
VISA INC-CLASS A SHARES 1.33%
DANAHER CORP 1.25%
UNIVERSAL ENTERTAINMENT CORP 1.23%
SHISEIDO CO LTD 1.19%
HILTON WORLDWIDE HOLDINGS IN 1.16%
PIRELLI & C SPA 1.15%
ASAHI GROUP HOLDINGS LTD 1.14%
ENTERPRISE PRODUCTS PARTNERS 1.14%
EURAZEO SE 1.11%
LENNAR CORP-A 1.11%
CIGNA CORP 1.10%
SHERWIN-WILLIAMS CO/THE 1.10%
MICROSOFT CORP 1.08%
PALTAC CORPORATION 1.07%
ADOBE INC 1.06%
LIVE NATION ENTERTAINMENT IN 1.06%
DXC TECHNOLOGY CO 1.05%
CHENIERE ENERGY INC 1.04%
KYUDENKO CORP 1.03%
PRUDENTIAL PLC 1.03%
GODADDY INC - CLASS A 1.02%
FIRST DATA CORP- CLASS A 1.01%
YELLOW CAKE PLC 0.99%
CONOCOPHILLIPS 0.98%
KENNEDY-WILSON HOLDINGS INC 0.98%
COCA-COLA CO/THE 0.95%
HERSHEY CO/THE 0.95%
NXP SEMICONDUCTORS NV 0.95%
RADIAN GROUP INC 0.95%
LOWES COMPANIES INC 0.94%
SUMMIT MATERIALS INC -CL A 0.94%
EMERSON ELECTRIC CO 0.92%
TOSHIBA CORP 0.92%
SCREEN HOLDINGS CO LTD 0.91%
VERTEX PHARMACEUTICALS INC 0.91%
TEXTRON INC 0.90%
L3 TECHNOLOGIES INC 0.89%
REALPAGE INC 0.89%
BAYER AG-REG 0.85%
OPEN HOUSE CO LTD 0.85%
UBER TECH INC P/P CV PFD 0.85%
EDELWEISS FINANCIAL SERVICES 0.83%
PIONEER NAT RES CO 0.83%
JOHNSON CONTROLS INTERNATION 0.82%
SIG COMBIBLOC GROUP 0.81%
ASSOCIATED BRITISH FOODS PLC 0.79%
BANK OF IRELAND GROUP PLC 0.79%
E*TRADE FINANCIAL CORPORATION 0.79%
ICU MEDICAL INC 0.79%
SINO-AMERICAN SILICON PRODUC 0.79%
QBE INSURANCE GROUP LTD 0.78%
ACTIVISION BLIZZARD INC 0.77%
ASTRAZENECA PLC 0.74%
HIBERNIA REIT PLC 0.72%
DALATA HOTEL GROUP PLC 0.71%
SAMSUNG ELECTRONICS CO LTD 0.70%
CHALLENGER LTD 0.69%
KKR & CO INC -A 0.68%
SEVEN GENERATIONS ENERGY - A 0.68%
JAZZ PHARMACEUTICALS PLC 0.65%
KION GROUP AG 0.65%
COMPUGROUP MEDICAL SE 0.59%
INSTRUCTURE INC 0.59%
NINTENDO CO LTD 0.58%
ASHTEAD GROUP PLC 0.56%
ASSA ABLOY AB-B 0.46%
ALCOA CORP 0.40%
REALOGY HOLDINGS CORP 0.36%
CHF/USD 03/20/2019 BCAP-FX 0.04%
GLOBAL FASHION GRP P/P 0.04%
GLOBAL FASHION GRP 0.03%
DKK/USD 03/20/2019 CITI 0.01%
EUR/USD 03/20/2019 GSFX 0.01%
SEK/USD 03/20/2019 JPMCB 0.01%
AUD/USD 01/16/2019 BCAP-FX 0.00%
AUD/USD 01/16/2019 JPMCB 0.00%
AUD/USD 01/16/2019 SSBT 0.00%
CAD/USD 01/16/2019 BANKAM 0.00%
CAD/USD 01/16/2019 CITI 0.00%
CAD/USD 01/16/2019 GSFX 0.00%
CAD/USD 01/16/2019 SSBT 0.00%
CHF/USD 03/20/2019 JPMCB 0.00%
CNH/USD 02/20/2019 GSFX 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
HKD/USD 02/20/2019 BANKAM 0.00%
HKD/USD 02/20/2019 BCAP-FX 0.00%
ILS/USD 01/16/2019 SSBT 0.00%
JPY/USD 02/20/2019 BANKAM 0.00%
JPY/USD 02/20/2019 CITI 0.00%
JPY/USD 02/20/2019 GSFX 0.00%
JPY/USD 02/20/2019 JPMCB 0.00%
JPY/USD 02/20/2019 SSBT 0.00%
KRW/USD 02/20/2019 JPMCB 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NOK/USD 03/20/2019 JPMCB 0.00%
SGD/USD 02/20/2019 JPMCB 0.00%
TWD/USD 02/20/2019 GSFX -0.01%
GBP/USD 03/20/2019 BANKAM -0.02%

Prior top 10 holdings

Top 10 holdings as of 01/31/19
1: Nrg Energy 4.02%
2: Alphabet 3.09%
3: Assured Guaranty 3.02%
4: Amazon.Com 2.47%
5: Becton Dickinson And 2.31%
6: Unilever Nv 2.31%
7: Ball Corp 2.14%
8: Boston Scientific Corp 1.99%
9: Cenovus Energy 1.71%
10: Nomad Foods 1.70%
Holdings represent 24.76% of portfolio
Top 10 holdings as of 12/31/18
1: Nrg Energy 4.17%
2: Alphabet 3.07%
3: Assured Guaranty 3.05%
4: Unilever Nv 2.52%
5: Amazon.Com 2.31%
6: Becton Dickinson And 2.23%
7: Ball Corp 2.01%
8: Boston Scientific Corp 1.97%
9: Advance Auto Parts 1.78%
10: Compass Group 1.69%
Holdings represent 24.80% of portfolio
Top 10 holdings as of 11/30/18
1: Nrg Energy 3.94%
2: Assured Guaranty 2.98%
3: Alphabet 2.97%
4: Amazon.Com 2.37%
5: Unilever Nv 2.35%
6: Becton Dickinson And 2.29%
7: Ball Corp 1.97%
8: Boston Scientific Corp 1.92%
9: Advance Auto Parts 1.84%
10: Nomad Foods 1.83%
Holdings represent 24.46% of portfolio
Top 10 holdings as of 10/31/18
1: Nrg Energy 4.02%
2: Assured Guaranty 2.92%
3: Alphabet 2.85%
4: Unilever Nv 2.14%
5: Norfolk Southern Corp 2.08%
6: Amazon.Com 2.03%
7: Becton Dickinson And 2.03%
8: Cenovus Energy 2.01%
9: Boston Scientific Corp 1.85%
10: Ball Corp 1.77%
Holdings represent 23.70% of portfolio

Portfolio Composition as of 01/31/19

Common stock 98.08%
Cash and net other assets 1.10%
Convertible preferred stock 0.82%

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.

International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. 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 01/31/19

Consumer discretionary 14.23%
Information technology 13.73%
Financials 13.42%
Health care 11.17%
Consumer staples 10.48%
Energy 9.54%
Industrials 8.91%
Communication services 5.66%
Materials 5.05%
 
Other
7.81%
Utilities 4.02%
Real estate 2.69%
Cash and net other assets 1.10%

Country Allocation as of 01/31/19

United States 61.83%
Japan 8.77%
United Kingdom 7.69%
Canada 5.17%
France 2.58%
Netherlands 2.31%
Ireland 2.30%
Germany 1.95%
Australia 1.45%
 
Other
5.95%
Italy 1.19%
Cash and net other assets 1.10%
Taiwan 0.83%
India 0.80%
South Korea 0.79%
Switzerland 0.73%
Sweden 0.45%
Luxembourg 0.06%