Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. The "before sales charge" performance does not reflect the current maximum sales charges, which we explain below. If performance did reflect the charges, it would be lower. The "after sales charge" performance (or returns at public offering price) varies by share class and fund. For class A and class M shares, the current maximum initial sales charges are 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds, respectively (with these exceptions: 2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund). Class B share performance reflects the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declines to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, and Putnam Fixed Income Absolute Return Fund; for these funds, the CDSC is 1% in the first year, declines to 0.5% in the second year, and is eliminated thereafter). Class C share performance reflects a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares by adjusting for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (note, for two funds — Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund performance prior to inception is based on the historical performance of class B shares). Performance for class A, C, R6, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which has been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. The "after sales charge" performance (at public offering price) for class N shares reflects the current maximum initial sales charge of 1.50%. Class R, R3, R4, R5, and R6 shares, which are available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for class R3 and R4 shares prior to their inception is derived from the historical performance of class Y shares by adjusting for the higher operating expenses for such shares. Performance for class R5 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower expenses; had it been adjusted, performance would be higher (with the exception of the RetirementReady Maturity, 2025, 2030, 2035, and 2040 Funds, for which performance is derived from the historical performance of class R6 shares and has been adjusted for the higher operating expenses for such shares; and the RetirementReady 2045, 2050, 2055, and 2060 Funds, for which performance is derived from the historical performance of class R6 shares and has not been adjusted for the lower expenses; had it been adjusted, performance would be higher). Performance for class R6 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower operating expenses; had it been adjusted, performance would be higher. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses. Had these limits not been in place, performance would be lower.
Active Equities
Growth Opportunities Fund (Class Y) (PGOYX)
Seeking to harness the growth potential of large U.S. companies
Highlights
Objective
The fund seeks capital appreciation.
Strategy and process
- Seeks above-average growth The fund focuses on businesses that exhibit both a high level of growth and an above-average duration of growth.
- A thematic approach The portfolio managers combine top-down investment themes with bottom-up research to select securities that can benefit from growth trends.
- Rigorous analysis Backed by fundamental research, the managers focus on identifying management teams that act like owners.
Fund price and assets |
Yesterday’s close | 52-week high | 52-week low | Net assets and outstanding shares |
---|---|---|---|---|
Net asset value |
$44.59
-3.00% | $-1.38 |
$69.10
11/19/21 |
$42.58
06/16/22 |
Download CSV |
Fund facts as of 05/31/22
$7,486.06M
49%
Annually
52
July
746802586 / 1848
07/01/99
Growth
PGOYX
Management team
A commitment to deep fundamental research
The team analyzes global trends, as well as problems and potential solutions, to identify which themes could drive sustained growth for businesses over a multi-year time horizon. Learn more about the theme-based strategy and the experiences that shaped the managers' investing approach.
Literature
Fund documents |
Prospectuses/SAI |
Fact Sheet (R6 share) (PDF) |
Fact Sheet (YA share) (PDF) |
Annual Fund Report (PDF) |
Semiannual Fund Report (PDF) |
Quarterly commentary (PDF) |
Brochure: Investing for the new decade (PDF) |
White Paper: Integrated Insights (PDF) |
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To build a value investment strategy, consider dividends in the context of overall income.War and inflation put bull market in hibernation
Investors may be underestimating the immense range of potential outcomes for the Russia-Ukraine War.Performance
Total return (%) as of 03/31/22
Annual performance as of 03/31/22
Annualized Total return (%) as of 03/31/22
Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
---|---|---|---|---|
Before sales charge | 11.91% | 21.92% | 21.02% | 16.98% |
After sales charge | N/A | N/A | N/A | N/A |
Russell 1000 Growth Index | 14.98% | 23.60% | 20.88% | 17.04% |
Performance snapshot
Before sales charge | After sales charge | ||
---|---|---|---|
1 mt. as of 05/31/22 | -3.70% | - | |
YTD as of 06/28/22 | -28.37% | - | |
Risk-adjusted performance as of 05/31/22
Alpha (3 yrs.) | -2.56 |
---|---|
Sharpe ratio (3 yrs.) | 0.74 |
Treynor ratio (3 yrs.) | 15.10 |
Information ratio (3 yrs.) | -1.12 |
Volatility as of 05/31/22
Standard deviation (3 yrs.) | 19.89% |
---|---|
Beta | 0.97 |
R-squared | 0.98 |
Capture ratio as of 05/31/22
Up-market (3 yrs.) | 94.26 |
---|---|
Down-market (3 yrs.) | 102.54 |
Lipper rankings as of 05/31/22
Time period | Rank/Funds in category | Percentile ranking |
---|---|---|
1 yr. | 227/681 | 34% |
3 yrs. | 228/622 | 37% |
5 yrs. | 70/587 | 12% |
10 yrs. | 27/440 | 7% |
Morningstar Ratings™ as of 05/31/22
Time period | Funds in category | Morningstar Rating™ |
---|---|---|
Overall | 1142 | |
3 yrs. | 1142 | |
5 yrs. | 1054 | |
10 yrs. | 777 |
Distributions
Record/Ex dividend date | 12/06/21 |
---|---|
Payable date | 12/08/21 |
Income | -- |
Extra income | -- |
Short-term cap. gain | $0.399 |
Long-term cap. gain | $4.921 |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Holdings
Microsoft Corp | 11.53% |
---|---|
Apple | 10.21% |
Amazon.Com | 6.16% |
Alphabet | 6.03% |
Tesla | 3.39% |
Mastercard | 3.24% |
Visa | 3.00% |
Nvidia Corp | 2.67% |
UnitedHealth Group | 2.08% |
Palo Alto Networks | 2.07% |
Top 10 holdings, percent of portfolio | 50.37% |
Top 10 holdings as of 05/31/22 | |
---|---|
Microsoft Corp | |
Apple | |
Amazon.Com | |
Alphabet | |
Tesla | |
Mastercard | |
Visa | |
Nvidia Corp | |
UnitedHealth Group | |
Palo Alto Networks | |
Holdings represent 50.37% of portfolio |
Top 10 holdings as of 04/30/22 | |
---|---|
Microsoft Corp | |
Apple | |
Amazon.Com | |
Alphabet | |
Tesla | |
Mastercard | |
Visa | |
Nvidia Corp | |
Palo Alto Networks | |
Accenture | |
Holdings represent 50.50% of portfolio |
Top 10 holdings as of 03/31/22 | |
---|---|
Microsoft Corp | |
Apple | |
Amazon.Com | |
Alphabet | |
Tesla | |
Nvidia Corp | |
Mastercard | |
Visa | |
Union Pacific Corp | |
Palo Alto Networks | |
Holdings represent 51.90% of portfolio |
Top 10 holdings as of 02/28/22 | |
---|---|
Microsoft Corp | |
Apple | |
Amazon.Com | |
Alphabet | |
Tesla | |
Nvidia Corp | |
Mastercard | |
Visa | |
Adobe | |
Palo Alto Networks | |
Holdings represent 51.51% of portfolio |
MICROSOFT CORP SEDOL 2588173 | 10.98% |
---|---|
APPLE INC SEDOL 2046251 | 10.06% |
AMAZON.COM INC SEDOL 2000019 | 7.41% |
ALPHABET INC-CL C SEDOL BYY88Y7 | 6.20% |
TESLA INC SEDOL B616C79 | 4.25% |
NVIDIA CORP SEDOL 2379504 | 3.42% |
MASTERCARD INC - A SEDOL B121557 | 2.81% |
VISA INC-CLASS A SHARES SEDOL B2PZN04 | 2.57% |
UNION PACIFIC CORP SEDOL 2914734 | 2.12% |
PALO ALTO NETWORKS INC SEDOL B87ZMX0 | 2.08% |
ACCENTURE PLC-CL A SEDOL B4BNMY3 | 2.05% |
COSTCO WHOLESALE CORP SEDOL 2701271 | 1.85% |
ADOBE INC SEDOL 2008154 | 1.84% |
INTUIT INC SEDOL 2459020 | 1.82% |
UNITEDHEALTH GROUP INC SEDOL 2917766 | 1.73% |
DANAHER CORP SEDOL 2250870 | 1.65% |
CADENCE DESIGN SYS INC SEDOL 2302232 | 1.60% |
JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.54% |
HCA HEALTHCARE INC SEDOL B4MGBG6 | 1.53% |
DEERE & CO SEDOL 2261203 | 1.47% |
META PLATFORMS INC-CLASS A SEDOL B7TL820 | 1.39% |
IQVIA HOLDINGS INC SEDOL BDR73G1 | 1.36% |
UBER TECHNOLOGIES INC SEDOL BK6N347 | 1.34% |
NIKE INC -CL B SEDOL 2640147 | 1.32% |
AMERICAN TOWER CORP SEDOL B7FBFL2 | 1.32% |
MARVELL TECHNOLOGY INC SEDOL BNKJSM5 | 1.31% |
DEXCOM INC SEDOL B0796X4 | 1.27% |
HOME DEPOT INC SEDOL 2434209 | 1.27% |
SALESFORCE INC SEDOL 2310525 | 1.23% |
LULULEMON ATHLETICA INC SEDOL B23FN39 | 1.21% |
TJX COMPANIES INC SEDOL 2989301 | 1.19% |
ADVANCED MICRO DEVICES SEDOL 2007849 | 1.13% |
O'REILLY AUTOMOTIVE INC SEDOL B65LWX6 | 1.08% |
UNIVERSAL MUSIC GROUP NV SEDOL BNZGVV1 | 1.01% |
LIVE NATION ENTERTAINMENT IN SEDOL B0T7YX2 | 0.99% |
CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 0.96% |
ESTEE LAUDER COMPANIES-CL A SEDOL 2320524 | 0.88% |
SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 0.85% |
SERVICENOW INC SEDOL B80NXX8 | 0.82% |
BOOKING HOLDINGS INC SEDOL BDRXDB4 | 0.81% |
LONZA GROUP AG-REG SEDOL 7333378 | 0.80% |
IDEXX LABORATORIES INC SEDOL 2459202 | 0.79% |
INTUITIVE SURGICAL INC SEDOL 2871301 | 0.76% |
PAYPAL HOLDINGS INC SEDOL BYW36M8 | 0.66% |
WASTE CONNECTIONS INC SEDOL BYVG1F6 | 0.62% |
SCHWAB (CHARLES) CORP SEDOL 2779397 | 0.60% |
ELI LILLY & CO SEDOL 2516152 | 0.59% |
EQUIFAX INC SEDOL 2319146 | 0.58% |
AIRBNB INC-CLASS A SEDOL BMGYYH4 | 0.56% |
INGERSOLL-RAND INC SEDOL BL5GZ82 | 0.05% |
MICROSOFT CORP SEDOL 2588173 | 10.68% |
---|---|
APPLE INC SEDOL 2046251 | 9.12% |
AMAZON.COM INC SEDOL 2000019 | 6.76% |
ALPHABET INC-CL C SEDOL BYY88Y7 | 5.73% |
NVIDIA CORP SEDOL 2379504 | 3.89% |
TESLA INC SEDOL B616C79 | 3.60% |
META PLATFORMS INC-CLASS A SEDOL B7TL820 | 2.95% |
MASTERCARD INC - A SEDOL B121557 | 2.49% |
ADOBE INC SEDOL 2008154 | 2.27% |
ACCENTURE PLC-CL A SEDOL B4BNMY3 | 2.16% |
VISA INC-CLASS A SHARES SEDOL B2PZN04 | 2.14% |
INTUIT INC SEDOL 2459020 | 2.13% |
PAYPAL HOLDINGS INC SEDOL BYW36M8 | 1.94% |
CADENCE DESIGN SYS INC SEDOL 2302232 | 1.80% |
UNION PACIFIC CORP SEDOL 2914734 | 1.79% |
UNITEDHEALTH GROUP INC SEDOL 2917766 | 1.76% |
HCA HEALTHCARE INC SEDOL B4MGBG6 | 1.76% |
NIKE INC -CL B SEDOL 2640147 | 1.75% |
JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.73% |
DANAHER CORP SEDOL 2250870 | 1.63% |
TJX COMPANIES INC SEDOL 2989301 | 1.60% |
UBER TECHNOLOGIES INC SEDOL BK6N347 | 1.55% |
PALO ALTO NETWORKS INC SEDOL B87ZMX0 | 1.53% |
IQVIA HOLDINGS INC SEDOL BDR73G1 | 1.36% |
MARVELL TECHNOLOGY INC SEDOL BNKJSM5 | 1.36% |
AMERICAN TOWER CORP SEDOL B7FBFL2 | 1.36% |
SALESFORCE.COM INC SEDOL 2310525 | 1.31% |
DEERE & CO SEDOL 2261203 | 1.29% |
HOME DEPOT INC SEDOL 2434209 | 1.26% |
ESTEE LAUDER COMPANIES-CL A SEDOL 2320524 | 1.24% |
ADVANCED MICRO DEVICES SEDOL 2007849 | 1.24% |
SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 1.13% |
O'REILLY AUTOMOTIVE INC SEDOL B65LWX6 | 1.10% |
LULULEMON ATHLETICA INC SEDOL B23FN39 | 1.09% |
SERVICENOW INC SEDOL B80NXX8 | 0.95% |
IDEXX LABORATORIES INC SEDOL 2459202 | 0.92% |
ELI LILLY & CO SEDOL 2516152 | 0.92% |
CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 0.91% |
DEXCOM INC SEDOL B0796X4 | 0.91% |
LIVE NATION ENTERTAINMENT IN SEDOL B0T7YX2 | 0.90% |
REGENERON PHARMACEUTICALS SEDOL 2730190 | 0.89% |
LONZA GROUP AG-REG SEDOL 7333378 | 0.88% |
AIRBNB INC-CLASS A SEDOL BMGYYH4 | 0.79% |
UNIVERSAL MUSIC GROUP NV SEDOL BNZGVV1 | 0.78% |
WALT DISNEY CO/THE SEDOL 2270726 | 0.63% |
DOCUSIGN INC SEDOL BFYT7B7 | 0.51% |
COSTCO WHOLESALE CORP SEDOL 2701271 | 0.48% |
INGERSOLL-RAND INC SEDOL BL5GZ82 | 0.47% |
DRAFTKINGS INC - CL A SEDOL BMYML02 | 0.44% |
NETFLIX INC SEDOL 2857817 | 0.39% |
BLOCK INC SEDOL BYNZGK1 | 0.17% |
COSTAR GROUP INC SEDOL 2262864 | 0.15% |
HC BRILLANT SERVICES GMBH P/P | 0.00% |
Portfolio composition as of 05/31/22
Common stock | 97.63% |
---|---|
Cash and net other assets | 2.37% |
Equity statistics as of 05/31/22
Median market cap | $101.53B |
---|---|
Weighted average market cap | $799.67B |
Price to book | 10.42 |
Price to earnings | 20.02 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style 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. 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.
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.
Top industry sectors as of 05/31/22
Information technology | 43.10% |
---|---|
Consumer discretionary | 18.55% |
Health care | 10.62% |
Communication services | 9.64% |
Industrials | 6.60% |
Consumer staples | 4.22% |
Cash and net other assets | 2.37% |
Real estate | 1.84% |
Financials | 1.74% |
Other | 1.32% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R5 | Class R6 | Class Y |
---|---|---|---|---|---|---|---|
Total expense ratio | 0.99% | 1.74% | 1.74% | 1.24% | 0.74% | 0.64% | 0.74% |
What you pay | 0.99% | 1.74% | 1.74% | 1.24% | 0.74% | 0.64% | 0.74% |
Sales charge
Investment Breakpoint | Class A | Class B | Class C | Class R | Class R5 | Class R6 | Class Y |
---|---|---|---|---|---|---|---|
$0-$49,999 | 5.75% | 0.00% | 0.00% | -- | -- | -- | -- |
$50,000-$99,999 | 4.50% | 0.00% | 0.00% | -- | -- | -- | -- |
$100,000-$249,999 | 3.50% | -- | 0.00% | -- | -- | -- | -- |
$250,000-$499,999 | 2.50% | -- | 0.00% | -- | -- | -- | -- |
$500,000-$999,999 | 2.00% | -- | 0.00% | -- | -- | -- | -- |
$1M-$4M | 0.00% | -- | -- | -- | -- | -- | -- |
$4M-$50M | 0.00% | -- | -- | -- | -- | -- | -- |
$50M+ | 0.00% | -- | -- | -- | -- | -- | -- |
CDSC
Class A (sales for $1,000,000+) | Class B | Class C | Class R | Class R5 | Class R6 | Class Y | |
---|---|---|---|---|---|---|---|
0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- |
9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- |
2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- | -- |
3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- | -- |
4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- | -- |
5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- | -- |
6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- | -- |
7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- | -- |
The Russell 1000® Growth Index is an unmanaged index of those companies in the large-cap Russell 1000® Index chosen for their growth orientation. You cannot invest directly in an index.
Consider these risks before investing: Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style 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. 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.
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.