Putnam Capital Manager

Putnam Sustainable Leaders 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

Investing in growing companies committed to sustainable practicesCommitted companies: The fund invests in companies with strong fundamentals linked to leadership in financially material sustainability issues.Active strategy: An investment framework focused on material sustainability issues and embedded within the fundamental research process drives portfolio decisions.Experienced team: An experienced, dedicated sustainable investing team is integrated with Putnam's equity research and quantitative/risk analysis groups.

Management team

Lipper ranking ‡ as of 08/31/20

Category: Multi-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 45% 41/91
1 yr. 69% 71/103
3 yrs. 51% 53/103
5 yrs. 44% 45/102

‡ 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 08/31/20

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 64
Turnover (fiscal year end) 29%
Net Assets $893M
Inception Date 05/02/94


Microsoft Corp 7.68%
Apple 6.99%
Amazon.Com 5.53%
Adobe 2.93%
Danaher Corp 2.85%
Alphabet 2.70%
Visa 2.35%
Blackrock 2.33%
Salesforce.Com 2.25%
Bank Of America Corp 2.24%
Top 10 holdings, total: 37.85%

Top 10 holdings as of 08/31/20
1: Microsoft Corp 7.68%
2: Apple 6.99%
3: Amazon.Com 5.53%
4: Adobe 2.93%
5: Danaher Corp 2.85%
6: Alphabet 2.70%
7: Visa 2.35%
8: Blackrock 2.33%
9: Salesforce.Com 2.25%
10: Bank Of America Corp 2.24%
Holdings represent 37.85% of portfolio
Top 10 holdings as of 07/31/20
1: Microsoft Corp 7.45%
2: Apple 6.56%
3: Amazon.Com 5.41%
4: Danaher Corp 3.01%
5: Adobe 2.88%
6: Alphabet 2.62%
7: Thermo Fisher Scientific 2.45%
8: Blackrock 2.41%
9: Bank Of America Corp 2.32%
10: Visa 2.26%
Holdings represent 37.37% of portfolio
Top 10 holdings as of 06/30/20
1: Microsoft Corp 7.81%
2: Apple 5.94%
3: Amazon.Com 4.98%
4: Adobe 2.98%
5: Danaher Corp 2.75%
6: Alphabet 2.63%
7: Visa 2.41%
8: Blackrock 2.40%
9: Bank Of America Corp 2.39%
10: Thermo Fisher Scientific 2.26%
Holdings represent 36.55% of portfolio
Top 10 holdings as of 05/31/20
1: Microsoft Corp 7.31%
2: Apple 5.83%
3: Amazon.Com 4.71%
4: Alphabet 3.31%
5: Adobe 2.89%
6: Danaher Corp 2.69%
7: Blackrock 2.57%
8: Visa 2.54%
9: Fidelity National Information Services 2.49%
10: Thermo Fisher Scientific 2.43%
Holdings represent 36.77% of portfolio

Portfolio Composition as of 08/31/20

Common stock 98.59%
Cash and net other assets 1.10%
Convertible preferred stock 0.31%

Consider these risks before investing: The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. Investments in small and/or midsize companies increase the risk of greater price fluctuations. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. The fund's investment strategy of investing in companies that exhibit a commitment to sustainable business practices may result in the fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds that do not invest with a sustainable focus. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies in which the fund invests, the fund may temporarily hold securities that are inconsistent with its sustainable investment criteria. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund. 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 08/31/20

Information technology 32.79%
Consumer discretionary 15.54%
Health care 13.96%
Financials 8.10%
Industrials 7.31%
Consumer staples 6.09%
Materials 6.05%
Utilities 4.63%
Communication services 2.70%
Real estate 1.73%
Cash and net other assets 1.10%