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 growth companies with the goal of delivering positive financial and ESG performance.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 01/31/19

Category: Multi-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 72% 51/70
1 yr. 70% 59/84
3 yrs. 38% 32/84
5 yrs. 34% 28/82

Risk Characteristics as of 01/31/19

Alpha (%) 1.10
Beta 0.95
R squared 0.95
Standard deviation (3 yrs.) 12.22

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 01/31/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 78
Turnover (fiscal year end) 63%
Net Assets $715M
Inception Date 05/02/94

Holdings

Top 10 holdings as of 01/31/19

Microsoft Corp 5.90%
Alphabet 4.31%
Amazon.Com 4.04%
Visa 4.04%
Becton Dickinson And 3.32%
Adobe 3.31%
Unilever Nv 3.21%
Danaher Corp 2.94%
Salesforce.Com 2.68%
Apple 2.62%
Top 10 holdings, total: 36.37%

Equity Holdings as of 12/31/18

MICROSOFT CORP 6.19%
VISA INC-CLASS A SHARES 4.30%
AMAZON.COM INC 3.84%
UNILEVER NV-CVA 3.55%
ALPHABET INC-CL C 3.32%
BECTON DICKINSON AND CO 3.27%
ADOBE INC 3.25%
NOVOZYMES A/S-B SHARES 3.01%
DANAHER CORP 2.98%
APPLE INC 2.70%
SALESFORCE.COM INC 2.62%
BLACKROCK INC 2.51%
HOME DEPOT INC 2.29%
HILTON WORLDWIDE HOLDINGS IN 1.85%
COOPER COS INC/THE 1.78%
OKTA INC 1.78%
FORTIVE CORP 1.74%
LINDE PLC 1.65%
CHIPOTLE MEXICAN GRILL INC 1.57%
ACCENTURE PLC-CL A 1.54%
WALMART INC 1.53%
SERVICENOW INC 1.49%
NXP SEMICONDUCTORS NV 1.45%
BANK OF AMERICA CORP 1.38%
HEINEKEN NV 1.33%
PRUDENTIAL PLC 1.33%
ROPER TECHNOLOGIES INC 1.32%
BOSTON SCIENTIFIC CORP 1.26%
MCCORMICK & CO-NON VTG SHRS 1.23%
BALL CORP 1.22%
LOWES COMPANIES INC 1.22%
PENUMBRA INC 1.22%
CHR HANSEN HOLDING A/S 1.21%
TALEND SA - ADR 1.14%
STANLEY BLACK & DECKER INC 1.12%
ADIDAS AG 1.11%
VERTEX PHARMACEUTICALS INC 1.11%
DXC TECHNOLOGY CO 1.10%
MSCI INC 1.09%
FIRST REPUBLIC BANK/CA 1.05%
ALPHABET INC-CL A 1.04%
VAIL RESORTS INC 1.03%
HONEYWELL INTERNATIONAL INC 1.02%
WEBSTER FINANCIAL CORP 1.01%
NEXTERA ENERGY INC 1.00%
ECOLAB INC 0.97%
KELLOGG CO 0.95%
SCHWAB (CHARLES) CORP 0.95%
HASBRO INC 0.93%
ON SEMICONDUCTOR CORP 0.86%
ASML HOLDING NV-NY REG SHS 0.85%
DOCUSIGN INC 0.84%
ICU MEDICAL INC 0.82%
AES CORP 0.74%
TJX COMPANIES INC 0.70%
REALPAGE INC 0.67%
SUMMIT MATERIALS INC -CL A 0.66%
CHALLENGER LTD 0.64%
JAZZ PHARMACEUTICALS PLC 0.63%
METTLER-TOLEDO INTERNATIONAL 0.57%
UNION PACIFIC CORP 0.50%
BIO-RAD LABORATORIES-A 0.45%
BLUEBIRD BIO INC 0.30%
MEDICINES COMPANY 0.29%
CLOVIS ONCOLOGY INC 0.24%
OPORTUN FIN CORP P/P SERIES H PFD 0.13%
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%
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%
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 12/31/18

MICROSOFT CORP 6.19%
VISA INC-CLASS A SHARES 4.30%
AMAZON.COM INC 3.84%
UNILEVER NV-CVA 3.55%
ALPHABET INC-CL C 3.32%
BECTON DICKINSON AND CO 3.27%
ADOBE INC 3.25%
NOVOZYMES A/S-B SHARES 3.01%
DANAHER CORP 2.98%
APPLE INC 2.70%
SALESFORCE.COM INC 2.62%
BLACKROCK INC 2.51%
HOME DEPOT INC 2.29%
HILTON WORLDWIDE HOLDINGS IN 1.85%
COOPER COS INC/THE 1.78%
OKTA INC 1.78%
FORTIVE CORP 1.74%
LINDE PLC 1.65%
CHIPOTLE MEXICAN GRILL INC 1.57%
ACCENTURE PLC-CL A 1.54%
WALMART INC 1.53%
SERVICENOW INC 1.49%
NXP SEMICONDUCTORS NV 1.45%
BANK OF AMERICA CORP 1.38%
HEINEKEN NV 1.33%
PRUDENTIAL PLC 1.33%
ROPER TECHNOLOGIES INC 1.32%
BOSTON SCIENTIFIC CORP 1.26%
MCCORMICK & CO-NON VTG SHRS 1.23%
BALL CORP 1.22%
LOWES COMPANIES INC 1.22%
PENUMBRA INC 1.22%
CHR HANSEN HOLDING A/S 1.21%
TALEND SA - ADR 1.14%
STANLEY BLACK & DECKER INC 1.12%
ADIDAS AG 1.11%
VERTEX PHARMACEUTICALS INC 1.11%
DXC TECHNOLOGY CO 1.10%
MSCI INC 1.09%
FIRST REPUBLIC BANK/CA 1.05%
ALPHABET INC-CL A 1.04%
VAIL RESORTS INC 1.03%
HONEYWELL INTERNATIONAL INC 1.02%
WEBSTER FINANCIAL CORP 1.01%
NEXTERA ENERGY INC 1.00%
ECOLAB INC 0.97%
KELLOGG CO 0.95%
SCHWAB (CHARLES) CORP 0.95%
HASBRO INC 0.93%
ON SEMICONDUCTOR CORP 0.86%
ASML HOLDING NV-NY REG SHS 0.85%
DOCUSIGN INC 0.84%
ICU MEDICAL INC 0.82%
AES CORP 0.74%
TJX COMPANIES INC 0.70%
REALPAGE INC 0.67%
SUMMIT MATERIALS INC -CL A 0.66%
CHALLENGER LTD 0.64%
JAZZ PHARMACEUTICALS PLC 0.63%
METTLER-TOLEDO INTERNATIONAL 0.57%
UNION PACIFIC CORP 0.50%
BIO-RAD LABORATORIES-A 0.45%
BLUEBIRD BIO INC 0.30%
MEDICINES COMPANY 0.29%
CLOVIS ONCOLOGY INC 0.24%
OPORTUN FIN CORP P/P SERIES H PFD 0.13%
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 01/16/2019 GSFX 0.00%
AUD/USD 01/16/2019 SSBT 0.00%
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%
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%
EUR/USD 03/20/2019 SSBT -0.01%
EUR/USD 03/20/2019 UBS -0.01%
GBP/USD 03/20/2019 BANKAM -0.01%
EUR/USD 03/20/2019 JPMCB -0.02%

Prior top 10 holdings

Top 10 holdings as of 01/31/19
1: Microsoft Corp 5.90%
2: Alphabet 4.31%
3: Amazon.Com 4.04%
4: Visa 4.04%
5: Becton Dickinson And 3.32%
6: Adobe 3.31%
7: Unilever Nv 3.21%
8: Danaher Corp 2.94%
9: Salesforce.Com 2.68%
10: Apple 2.62%
Holdings represent 36.37% of portfolio
Top 10 holdings as of 12/31/18
1: Microsoft Corp 6.19%
2: Alphabet 4.36%
3: Visa 4.30%
4: Amazon.Com 3.84%
5: Unilever Nv 3.55%
6: Becton Dickinson And 3.27%
7: Adobe 3.25%
8: Novozymes A/S - B Shares 3.01%
9: Danaher Corp 2.98%
10: Apple 2.70%
Holdings represent 37.45% of portfolio
Top 10 holdings as of 11/30/18
1: Microsoft Corp 6.17%
2: Alphabet 4.22%
3: Visa 4.22%
4: Amazon.Com 3.95%
5: Becton Dickinson And 3.35%
6: Unilever Nv 3.31%
7: Adobe 3.29%
8: Danaher Corp 2.89%
9: Novozymes A/S - B Shares 2.87%
10: Apple 2.79%
Holdings represent 37.06% of portfolio
Top 10 holdings as of 10/31/18
1: Microsoft Corp 6.01%
2: Alphabet 4.19%
3: Visa 4.15%
4: Amazon.Com 3.77%
5: Unilever Nv 3.25%
6: Becton Dickinson And 3.09%
7: Novozymes A/S - B Shares 3.08%
8: Adobe 2.86%
9: Danaher Corp 2.65%
10: Apple 2.49%
Holdings represent 35.54% of portfolio

Portfolio Composition as of 01/31/19

Common stock 97.92%
Cash and net other assets 1.86%
Convertible preferred stock 0.22%

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 01/31/19

Information technology 31.53%
Health care 14.92%
Consumer discretionary 14.45%
Financials 9.52%
Materials 8.35%
Consumer staples 7.61%
Industrials 5.70%
Communication services 4.31%
Cash and net other assets 1.86%
 
Other
1.75%
Utilities 1.75%