Capital Opportunities Fund (Class A)  (PCOAX)

Seeking opportunities in small and midsize companies

Highlights

Objective

The fund seeks long-term growth of capital.

Strategy and process

  • Smaller companies: Often overlooked by Wall Street analysts, the stocks of smaller companies can represent attractive opportunities.
  • A flexible strategy: A core investment approach enables the fund to invest in both growth and value stocks.
  • Differentiated research: The portfolio managers select stocks in a collaborative effort that emphasizes non-consensus critical thinking.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $14.70
0.00% | $0.00
$16.30
10/02/17
$13.08
12/06/17
Historical fund price

Fund facts as of 06/30/18

Total net assets
$302.02M
Turnover (fiscal year end)
95%
Dividend frequency
Annually
Number of holdings
111
Fiscal year-end
April
CUSIP / Fund code
746802693 / 0054
Inception date
06/01/98
Category
Blend
Open to new investors
Ticker
PCOAX

Management team

Co-Director of Equity Research
Co-Director of Equity Research
Portfolio Manager, Analyst
Portfolio Manager, Analyst
Portfolio Manager, Analyst


Literature


Performance

Consistency of positive performance over five years

Performance represents 5-year returns in rolling quarter-end periods since inception.

Performance shown above does not reflect the effects of any sales charges. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.

26.24%

Best 5-year annualized return

(for period ending 03/31/14)


-5.24%

Worst 5-year annualized return

(for period ending 03/31/09)


8.28%

Average 5-year annualized return


  • Total return (%) as of 06/30/18

  • Annual performance as of 06/30/18

Annualized Total return (%) as of 06/30/18

Annualized performance 1 yr. 3 yrs. 5 yrs. 10 yrs.
Before sales charge 10.21% 7.13% 9.00% 9.69%
After sales charge 3.87% 5.04% 7.72% 9.04%
Russell 2500 Index 16.24% 10.30% 12.29% 10.74%

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. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Multi-Asset Absolute Return Fund, and 4.00% and 3.25% for income funds (2.25% and 0.75% for Putnam Short Duration Bond Fund and 1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Class R5/R6 shares, 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 R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been 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, without which returns would be lower.

Performance snapshot

  Before sales charge After sales charge
1 mt. as of 06/30/18 0.14 % -5.62 %
YTD as of 07/19/18 8.97 % 2.70 %

Risk-adjusted performance as of 06/30/18

Alpha (3 yrs.) -2.85
Sharpe ratio (3 yrs.) 0.53
Treynor ratio (3 yrs.) 6.75
Information ratio (3 yrs.) -0.90

Volatility as of 06/30/18

Standard deviation (3 yrs.) 12.24%
Beta 0.97
R-squared 0.92

Capture ratio as of 06/30/18

Up-market (3 yrs.) 87.11
Down-market (3 yrs.) 102.32

Lipper rankings as of 06/30/18

Small-Cap Core Funds Percentile ranking Rank/Funds in category
1 yr. 83% 811/985
3 yrs. 84% 681/814
5 yrs. 86% 593/689
10 yrs. 58% 287/501

Morningstar ratings as of 06/30/18

Small Blend Rating Funds in category
Overall (639)
3 yrs. (639)
5 yrs. (539)
10 yrs. (393)

Distributions

Record/Ex dividend date 12/06/17
Payable date 12/08/17
Income --
Extra income --
Short-term cap. gain $1.804
Long-term cap. gain $0.967

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

Top 10 holdings as of 06/30/18

Summit Materials 2.64%
Costar Group 2.23%
Talend 2.22%
Godaddy 2.20%
Discovery 2.13%
Burlington Stores 2.04%
Orion Engineered Carbons 1.83%
Instructure 1.78%
Everbridge 1.73%
Hamilton Lane 1.72%
Top 10 holdings, percent of portfolio 20.52%

Full portfolio holdings as of 03/31/18

SUMMIT MATERIALS INC -CL A 2.96%
EVERBRIDGE INC 2.36%
DXC TECHNOLOGY CO 2.26%
GODADDY INC - CLASS A 2.26%
INSTRUCTURE INC 2.08%
ORION ENGINEERED CARBONS SA 2.07%
JOHN BEAN TECHNOLOGIES CORP 1.99%
LOGMEIN INC 1.97%
RADIAN GROUP INC 1.97%
BURLINGTON STORES INC 1.84%
OSHKOSH CORP 1.74%
EASTERLY GOVERNMENT PROPERTI 1.69%
GAMING AND LEISURE PROPERTIE 1.62%
OWENS CORNING 1.59%
QAD INC-A 1.54%
BRUNSWICK CORP 1.52%
HAMILTON LANE INC-CLASS A 1.49%
INVESTMENT TECHNOLOGY GROUP 1.49%
SBA COMMUNICATIONS CORP 1.48%
L3 TECHNOLOGIES INC 1.44%
SERVICE CORP INTERNATIONAL 1.42%
BALL CORP 1.40%
MEDICINES COMPANY 1.39%
RPC GROUP PLC 1.39%
EAST WEST BANCORP INC 1.37%
GTT COMMUNICATIONS INC 1.30%
PEOPLES BANCORP INC 1.29%
MIRATI THERAPEUTICS INC 1.28%
ELLIE MAE INC 1.23%
JAZZ PHARMACEUTICALS PLC 1.23%
UMPQUA HOLDINGS CORP 1.22%
LIBERTY MEDIA COR-SIRIUSXM C 1.21%
W.R. GRACE & CO 1.21%
GRAPHIC PACKAGING HOLDING CO 1.19%
MALIBU BOATS INC - A 1.17%
CLOVIS ONCOLOGY INC 1.14%
WP CAREY INC 1.12%
ALCOA CORP 1.11%
CAVIUM INC 1.11%
JELD-WEN HOLDING INC 1.07%
SMITH (A.O.) CORP 1.07%
EMPLOYERS HOLDINGS INC 1.02%
SEVEN GENERATIONS ENERGY - A 0.99%
DAVE & BUSTER'S ENTERTAINMEN 0.94%
PROTO LABS INC 0.92%
RIGHTMOVE PLC 0.90%
ASSURED GUARANTY LTD 0.87%
DISCOVERY COMMUNICATIONS-C 0.87%
E*TRADE FINANCIAL CORPORATION 0.87%
BROOKS AUTOMATION INC 0.81%
PENUMBRA INC 0.81%
EPLUS INC 0.77%
LIBERTY MEDIA CORP-LIBERTY-C 0.77%
ONE GAS INC 0.77%
WYNDHAM WORLDWIDE CORP 0.77%
SIMPLY GOOD FOODS CO/THE 0.75%
FIRST REPUBLIC BANK/CA 0.74%
LIVE NATION ENTERTAINMENT IN 0.74%
VALMONT INDUSTRIES 0.74%
CRAFT BREW ALLIANCE INC 0.73%
ATARA BIOTHERAPEUTICS INC 0.71%
NRG ENERGY INC 0.69%
AT HOME GROUP INC 0.68%
BIO-RAD LABORATORIES-A 0.67%
ALEXION PHARMACEUTICALS INC 0.64%
DIPLOMAT PHARMACY INC 0.62%
OLD NATIONAL BANCORP 0.62%
PARTY CITY HOLDCO INC 0.61%
ST JAMES'S PLACE PLC 0.61%
OGE ENERGY CORP 0.60%
PARSLEY ENERGY INC-CLASS A 0.59%
TEXAS CAPITAL BANCSHARES INC 0.59%
DISCOVERY COMMUNICATIONS-A 0.58%
ALLETE INC 0.57%
POPULAR INC 0.57%
BANDWIDTH INC-CLASS A 0.54%
NEKTAR THERAPEUTICS 0.53%
PJT PARTNERS INC - A 0.52%
SANDERSON FARMS INC 0.52%
PACWEST BANCORP 0.51%
ENCANA CORP 0.50%
WPX ENERGY INC 0.45%
EVERCORE INC - A 0.44%
CYMABAY THERAPEUTICS INC 0.39%
HAWAIIAN ELECTRIC INDS 0.39%
IDACORP INC 0.39%
SELECT ENERGY SERVICES INC-A 0.37%
EDGEWELL PERSONAL CARE CO 0.36%
NUVISTA ENERGY LTD 0.35%
WELLCARE HEALTH PLANS INC 0.35%
GENMARK DIAGNOSTICS INC 0.34%
PACIRA PHARMACEUTICALS INC 0.32%
ARRAY BIOPHARMA INC 0.31%
CALLAWAY GOLF COMPANY 0.24%
TG THERAPEUTICS INC 0.24%
BLUEBIRD BIO INC 0.22%
DR PEPPER SNAPPLE GROUP INC 0.21%
HOLLYFRONTIER CORP 0.19%
OIL STATES INTERNATIONAL INC 0.16%
SUPERIOR ENERGY SERVICES INC 0.16%
OCEANEERING INTL INC 0.13%
TARGA RESOURCES CORP 0.07%
US SILICA HOLDINGS INC 0.07%
S&P MID 400 EMINI JUN18 FAM8 0.01%
EMIN RUSSELL 2000 JUN18 RTYM8 0.00%
S&P500 EMINI FUT JUN18 ESM8 0.00%

Prior top 10 holdings

Top 10 holdings as of 06/30/18
Summit Materials
Costar Group
Talend
Godaddy
Discovery
Burlington Stores
Orion Engineered Carbons
Instructure
Everbridge
Hamilton Lane
Holdings represent 20.52% of portfolio
Top 10 holdings as of 05/31/18
Summit Materials
Godaddy
Orion Engineered Carbons
Instructure
Dxc Technology
Burlington Stores
Everbridge
Qad
Talend
Logmein
Holdings represent 21.06% of portfolio
Top 10 holdings as of 04/30/18
Summit Materials
Everbridge
Godaddy
Dxc Technology
Orion Engineered Carbons
John Bean Technologies Corp
Instructure
Logmein
Burlington Stores
Easterly Government Properties
Holdings represent 21.72% of portfolio
Top 10 holdings as of 03/31/18
Summit Materials
Everbridge
Dxc Technology
Godaddy
Instructure
Orion Engineered Carbons
John Bean Technologies Corp
Radian Group
Logmein
Burlington Stores
Holdings represent 21.76% of portfolio

Portfolio composition as of 06/30/18

Common stock 96.80%
Cash and net other assets 3.20%

Equity statistics as of 06/30/18

Median market cap $4.62B
Weighted average market cap $6.50B
Price to book 2.95
Price to earnings 23.68

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific company or industry. You can lose money by investing in the fund.

Top Industry Sectors as of 06/30/18

Information technology 17.37%
Financials 16.59%
Consumer discretionary 14.28%
Industrials 12.08%
Health care 11.48%
Materials 8.91%
Real estate 5.32%
Energy 4.94%
Utilities 3.23%
 
Other
5.80%
Cash and net other assets 3.20%
Consumer staples 2.60%

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 M Class R Class R6 Class Y
Total expense ratio 1.37% 2.12% 2.12% 1.87% 1.62% 0.95% 1.12%
What you pay 1.37% 2.12% 2.12% 1.87% 1.62% 0.95% 1.12%

Sales charge

Investment Breakpoint Class A Class B Class C Class M Class R Class R6 Class Y
$0-$49,999 5.75% 0.00% 0.00% 3.50% -- -- --
$50,000-$99,999 4.50% 0.00% 0.00% 2.50% -- -- --
$100,000-$249,999 3.50% -- 0.00% 1.50% -- -- --
$250,000-$499,999 2.50% -- 0.00% 1.00% -- -- --
$500,000-$999,999 2.00% -- 0.00% 1.00% -- -- --
$1M-$4M 0.00% -- -- -- -- -- --
$4M-$50M 0.00% -- -- -- -- -- --
$50M+ 0.00% -- -- -- -- -- --

CDSC

  Class A (sales for $1,000,000+) Class B Class C Class M Class R 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 2500 Index is an unmanaged index of 2,500 small and midsize companies in the Russell 3000 Index. The Russell 2000 Index is an unmanaged list of common stocks that is frequently used as a general performance measure of U.S. stocks of small and/or midsize companies. You cannot invest directly in an index.

Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific company or industry. You can lose money by investing in the fund.