Putnam Hartford Capital Manager

Putnam Multi-Cap Growth Subaccount

The subaccount seeks long-term capital appreciation.

Fund description

The subaccount invests in companies of all sizes across a range of industry sectors. The management team looks for stocks of innovative companies that are positioned in sectors believed to offer exceptional growth potential. The fund targets companies with strong management and superior financial characteristics.

Sales story

A flexible approach to seeking companies growing faster than the marketFlexibility: The fund's portfolio manager can invest in companies of all sizes.A growth strategy: The fund targets stocks of companies that are believed to offer above-average growth potential.A rigorous process: Supported by a strong research team, the fund's manager uses his stock-picking expertise and multiple resources to identify opportunities and manage risk.

Management team

Lipper ranking ‡ as of 11/30/17

Category: Multi-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 30% 23/76
1 yr. 36% 36/100
3 yrs. 37% 37/100
5 yrs. 26% 24/94

Risk Characteristics as of 11/30/17

Alpha (%) -2.39
Beta 1.06
R squared 0.96
Standard deviation (3 yrs.) 11.56

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.

‡ 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 11/30/17

Fiscal Year End December
Asset Class Putnam Hartford Capital Manager
Subaccount Status Open to new investors
Number of issues 112
Turnover (fiscal year end) 72%
Net Assets $764M
Inception Date 05/02/94

Holdings

Top 10 holdings as of 11/30/17

Alphabet 5.43%
Amazon.Com 5.00%
Microsoft Corp 4.33%
Visa 3.61%
Apple 3.48%
Facebook 3.18%
Becton Dickinson And 2.90%
Home Depot The 2.60%
Alibaba Group Holding 2.46%
Bank Of America Corp 2.45%
Top 10 holdings, total: 35.44%

Equity Holdings as of 09/30/17

ALPHABET INC-CL C 5.83%
MICROSOFT CORP 4.00%
AMAZON.COM INC 3.63%
FACEBOOK INC-A 3.54%
VISA INC-CLASS A SHARES 3.52%
APPLE INC 3.23%
NORTHROP GRUMMAN CORP 2.61%
BECTON DICKINSON AND CO 2.58%
HOME DEPOT INC 2.40%
ALIBABA GROUP HOLDING-SP ADR 2.37%
NORFOLK SOUTHERN CORP 2.35%
BANK OF AMERICA CORP 2.26%
DANAHER CORP 1.97%
UNITEDHEALTH GROUP INC 1.62%
BROADCOM LTD 1.49%
HEINEKEN NV 1.45%
CHARTER COMMUNICATIONS INC-A 1.38%
INTUITIVE SURGICAL INC 1.35%
ADOBE SYSTEMS INC 1.33%
JOHNSON CONTROLS INTERNATION 1.32%
BOSTON SCIENTIFIC CORP 1.21%
UNITED TECHNOLOGIES CORP 1.17%
LIVE NATION ENTERTAINMENT IN 1.09%
PAYPAL HOLDINGS INC 1.09%
CELGENE CORP 1.08%
SALESFORCE.COM INC 1.07%
PRICELINE GROUP INC/THE 1.02%
AGILENT TECHNOLOGIES INC 1.00%
SHERWIN-WILLIAMS CO/THE 0.99%
HUMANA INC 0.91%
ALBEMARLE CORP 0.87%
SCHWAB (CHARLES) CORP 0.87%
CUMMINS INC 0.86%
TENCENT HOLDINGS LTD 0.85%
BIOGEN INC 0.84%
COMCAST CORP-CLASS A 0.82%
MIDDLEBY CORP 0.82%
BLACKROCK INC 0.80%
DOVER CORP 0.78%
VERTEX PHARMACEUTICALS INC 0.78%
FIDELITY NATIONAL INFO SERV 0.77%
SYMRISE AG 0.77%
HILTON WORLDWIDE HOLDINGS IN 0.76%
INTERCONTINENTAL EXCHANGE IN 0.74%
FORTIVE CORP 0.72%
ADIDAS AG 0.71%
EXPEDIA INC 0.71%
PACWEST BANCORP 0.70%
ACTIVISION BLIZZARD INC 0.69%
MCCORMICK & CO-NON VTG SHRS 0.69%
CONSTELLATION BRANDS INC-A 0.67%
JAZZ PHARMACEUTICALS PLC 0.65%
PULTEGROUP INC 0.65%
FORTUNE BRANDS HOME & SECURI 0.63%
PRUDENTIAL PLC 0.62%
PRAXAIR INC 0.61%
YUM CHINA HOLDINGS INC 0.60%
GAMING AND LEISURE PROPERTIE 0.59%
KLA-TENCOR CORP 0.59%
LAS VEGAS SANDS CORP 0.58%
SERVICENOW INC 0.58%
NVIDIA CORP 0.57%
STMICROELECTRONICS NV-NY SHS 0.57%
REALPAGE INC 0.56%
AIRBUS SE 0.55%
SUNCOR ENERGY INC 0.55%
DENTSPLY SIRONA INC 0.53%
MICRON TECHNOLOGY INC 0.52%
REGENERON PHARMACEUTICALS 0.52%
SUMMIT MATERIALS INC -CL A 0.51%
KION GROUP AG 0.50%
EOG RESOURCES INC 0.49%
PROOFPOINT INC 0.48%
QORVO INC 0.48%
BIOVERATIV INC 0.46%
BWX TECHNOLOGIES INC 0.46%
CLOVIS ONCOLOGY INC 0.45%
FMC CORP 0.44%
ROCKWELL AUTOMATION INC 0.43%
LOGMEIN INC 0.41%
MONSTER BEVERAGE CORP 0.41%
CHENIERE ENERGY INC 0.39%
PLAINS GP HOLDINGS LP-CL A 0.38%
CAVIUM INC 0.37%
BLUE BUFFALO PET PRODUCTS IN 0.36%
DAVE & BUSTER'S ENTERTAINMEN 0.36%
PENUMBRA INC 0.36%
RINGCENTRAL INC-CLASS A 0.36%
PEGASYSTEMS INC 0.35%
ULTA BEAUTY INC 0.33%
LINDBLAD EXPEDITIONS HOLDING 0.29%
BIO-RAD LABORATORIES-A 0.27%
IHS MARKIT LTD 0.26%
CHALLENGER LTD 0.25%
DISH NETWORK CORP-A 0.25%
WISDOMTREE INVESTMENTS INC 0.24%
DELIVERY HERO HOLDIN P/P 0.23%
SELECT ENERGY SVCS-A-1 0.23%
PROTHENA CORP PLC 0.20%
GENMARK DIAGNOSTICS INC 0.19%
MEDICINES COMPANY 0.16%
OKTA INC 0.14%
OPORTUN FIN CORP P/P SERIES H PFD 0.13%
HAMILTON LANE INC-CLASS A 0.11%
PIRELLI & C. SPA 0.10%
OVID THERAPEUTICS INC - RESTRICTED 0.06%
TALEND SA - ADR 0.05%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.03%
GLOBAL FASHION GRP P/P 0.02%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
FABFURNISH 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%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN C-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%

Full Portfolio Holdings as of 09/30/17

ALPHABET INC-CL C 5.83%
MICROSOFT CORP 4.00%
AMAZON.COM INC 3.63%
FACEBOOK INC-A 3.54%
VISA INC-CLASS A SHARES 3.52%
APPLE INC 3.23%
NORTHROP GRUMMAN CORP 2.61%
BECTON DICKINSON AND CO 2.58%
HOME DEPOT INC 2.40%
ALIBABA GROUP HOLDING-SP ADR 2.37%
NORFOLK SOUTHERN CORP 2.35%
BANK OF AMERICA CORP 2.26%
DANAHER CORP 1.97%
UNITEDHEALTH GROUP INC 1.62%
BROADCOM LTD 1.49%
HEINEKEN NV 1.45%
CHARTER COMMUNICATIONS INC-A 1.38%
INTUITIVE SURGICAL INC 1.35%
ADOBE SYSTEMS INC 1.33%
JOHNSON CONTROLS INTERNATION 1.32%
BOSTON SCIENTIFIC CORP 1.21%
UNITED TECHNOLOGIES CORP 1.17%
LIVE NATION ENTERTAINMENT IN 1.09%
PAYPAL HOLDINGS INC 1.09%
CELGENE CORP 1.08%
SALESFORCE.COM INC 1.07%
PRICELINE GROUP INC/THE 1.02%
AGILENT TECHNOLOGIES INC 1.00%
SHERWIN-WILLIAMS CO/THE 0.99%
HUMANA INC 0.91%
ALBEMARLE CORP 0.87%
SCHWAB (CHARLES) CORP 0.87%
CUMMINS INC 0.86%
TENCENT HOLDINGS LTD 0.85%
BIOGEN INC 0.84%
COMCAST CORP-CLASS A 0.82%
MIDDLEBY CORP 0.82%
BLACKROCK INC 0.80%
DOVER CORP 0.78%
VERTEX PHARMACEUTICALS INC 0.78%
FIDELITY NATIONAL INFO SERV 0.77%
SYMRISE AG 0.77%
HILTON WORLDWIDE HOLDINGS IN 0.76%
INTERCONTINENTAL EXCHANGE IN 0.74%
FORTIVE CORP 0.72%
ADIDAS AG 0.71%
EXPEDIA INC 0.71%
PACWEST BANCORP 0.70%
ACTIVISION BLIZZARD INC 0.69%
MCCORMICK & CO-NON VTG SHRS 0.69%
CONSTELLATION BRANDS INC-A 0.67%
JAZZ PHARMACEUTICALS PLC 0.65%
PULTEGROUP INC 0.65%
FORTUNE BRANDS HOME & SECURI 0.63%
PRUDENTIAL PLC 0.62%
PRAXAIR INC 0.61%
YUM CHINA HOLDINGS INC 0.60%
GAMING AND LEISURE PROPERTIE 0.59%
KLA-TENCOR CORP 0.59%
LAS VEGAS SANDS CORP 0.58%
SERVICENOW INC 0.58%
NVIDIA CORP 0.57%
STMICROELECTRONICS NV-NY SHS 0.57%
REALPAGE INC 0.56%
AIRBUS SE 0.55%
SUNCOR ENERGY INC 0.55%
DENTSPLY SIRONA INC 0.53%
MICRON TECHNOLOGY INC 0.52%
REGENERON PHARMACEUTICALS 0.52%
SUMMIT MATERIALS INC -CL A 0.51%
KION GROUP AG 0.50%
EOG RESOURCES INC 0.49%
PROOFPOINT INC 0.48%
QORVO INC 0.48%
BIOVERATIV INC 0.46%
BWX TECHNOLOGIES INC 0.46%
CLOVIS ONCOLOGY INC 0.45%
FMC CORP 0.44%
ROCKWELL AUTOMATION INC 0.43%
LOGMEIN INC 0.41%
MONSTER BEVERAGE CORP 0.41%
CHENIERE ENERGY INC 0.39%
PLAINS GP HOLDINGS LP-CL A 0.38%
CAVIUM INC 0.37%
BLUE BUFFALO PET PRODUCTS IN 0.36%
DAVE & BUSTER'S ENTERTAINMEN 0.36%
PENUMBRA INC 0.36%
RINGCENTRAL INC-CLASS A 0.36%
PEGASYSTEMS INC 0.35%
ULTA BEAUTY INC 0.33%
LINDBLAD EXPEDITIONS HOLDING 0.29%
BIO-RAD LABORATORIES-A 0.27%
IHS MARKIT LTD 0.26%
CHALLENGER LTD 0.25%
DISH NETWORK CORP-A 0.25%
WISDOMTREE INVESTMENTS INC 0.24%
DELIVERY HERO HOLDIN P/P 0.23%
SELECT ENERGY SVCS-A-1 0.23%
PROTHENA CORP PLC 0.20%
GENMARK DIAGNOSTICS INC 0.19%
MEDICINES COMPANY 0.16%
OKTA INC 0.14%
OPORTUN FIN CORP P/P SERIES H PFD 0.13%
HAMILTON LANE INC-CLASS A 0.11%
PIRELLI & C. SPA 0.10%
OVID THERAPEUTICS INC - RESTRICTED 0.06%
TALEND SA - ADR 0.05%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.03%
GLOBAL FASHION GRP P/P 0.02%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
AUD/USD 10/18/2017 SSBT 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
FABFURNISH GMBH P/P 0.00%
KOREAN WON 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%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN C-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%
POUND STERLING CALL ACCOUNT 0.00%
EUR/USD 12/20/2017 UBS -0.01%
GBP/USD 12/20/2017 BANKAM -0.01%
EUR/USD 12/20/2017 JPMCB -0.02%
HONG KONG DOLLAR CALL ACCOUNT -0.05%
THE EURO EUR CALL ACCOUNT -0.12%

Prior top 10 holdings

Top 10 holdings as of 11/30/17
1: Alphabet 5.43%
2: Amazon.Com 5.00%
3: Microsoft Corp 4.33%
4: Visa 3.61%
5: Apple 3.48%
6: Facebook 3.18%
7: Becton Dickinson And 2.90%
8: Home Depot The 2.60%
9: Alibaba Group Holding 2.46%
10: Bank Of America Corp 2.45%
Holdings represent 35.44% of portfolio
Top 10 holdings as of 10/31/17
1: Alphabet 6.02%
2: Microsoft Corp 4.34%
3: Amazon.Com 4.06%
4: Facebook 3.63%
5: Visa 3.58%
6: Apple 3.47%
7: Becton Dickinson And 2.69%
8: Northrop Grumman Corp 2.61%
9: Alibaba Group Holding 2.52%
10: Bank Of America Corp 2.41%
Holdings represent 35.33% of portfolio
Top 10 holdings as of 09/30/17
1: Alphabet 5.83%
2: Microsoft Corp 4.00%
3: Amazon.Com 3.63%
4: Visa 3.52%
5: Facebook 3.39%
6: Apple 3.23%
7: Northrop Grumman Corp 2.61%
8: Becton Dickinson And 2.58%
9: Norfolk Southern Corp 2.35%
10: Bank Of America Corp 2.26%
Holdings represent 33.40% of portfolio
Top 10 holdings as of 08/31/17
1: Alphabet 5.75%
2: Apple 4.16%
3: Microsoft Corp 4.04%
4: Amazon.Com 3.73%
5: Visa 3.48%
6: Facebook 3.43%
7: Becton Dickinson And 2.83%
8: Northrop Grumman Corp 2.49%
9: Norfolk Southern Corp 2.33%
10: Alibaba Group Holding 2.05%
Holdings represent 34.29% of portfolio

Portfolio Composition as of 11/30/17

Common stock 97.74%
Cash and net other assets 2.03%
Convertible preferred stock 0.23%

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 11/30/17

Information technology 35.62%
Health care 16.46%
Consumer discretionary 15.49%
Industrials 11.81%
Financials 7.70%
Consumer staples 3.73%
Materials 3.55%
Cash and net other assets 2.03%
Energy 1.96%
 
Other
1.65%
Real estate 1.25%
Telecommunication services 0.40%