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Managed Fund Since 2014
Equity
PURYX Putnam U.S. Research Fund
- A best-ideas fund. The fund invests in stocks that represent the highest conviction ideas from Putnam's Equity Research team.
- Sector neutral. The fund is managed with a sector-neutral approach, with the flexibility to own both growth and value stocks.
- Differentiated research. The portfolio managers select stocks in a collaborative effort that emphasizes non-consensus critical thinking.
Popular Documents
Total Net Assets
$1.23B
As of 09/30/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund seeks capital appreciation. The fund invests in stocks that represent the highest conviction ideas from Putnam's Equity Research team.
- Benchmark
- S&P 500 Index
- Fund Inception Date
- 10/02/1995
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 54%
Sales Charges, Expenses & Fees
As of 12/01/2025- Gross Expense Ratio
- 0.73%
- Net Expense Ratio
4 - 0.49%
- Maximum Initial Charge
- —
- CDSC
- N/A
- 12b-1 Fee
- —
Identifiers
- Ticker
- PURYX
- CUSIP Code
- 746802487
Average Annual Total Returns As of 09/30/2026
Class Y
- 18.85%1 Year
- 24.60%3 Years
- 14.89%5 Years
- 16.20%10 Years
- 10.77%Since Inception
10/02/1995
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
The fund began offering Class Y shares on 4/4/2000. Returns for periods prior to 4/4/2000 are based on the fund's Class A performance, which has not been adjusted for the lower operating expenses; had it been adjusted, performance would be higher. For periods after the share class offering, performance for the specific share class is used, reflecting the applicable expenses and maximum sales charges.
Top Sectors
As of 09/30/2026 % of Total (Updated Monthly)
Information Technology38.65% | |
Financials11.37% | |
Health Care9.47% | |
Communication Services9.19% | |
Consumer Discretionary8.05% |
Additional Fund Info
- Share Class Inception Date
- 04/04/2000
- Investment Style
- Large Cap
- Lipper Classification
- Large-Cap Core Funds
- Morningstar Category
5 - Large Blend
A Message from Kate Lakin, Portfolio Manager and Director of Research
Learn about Putnam’s U.S. research strategy and the disciplined team working to deliver performance excellence for investors.
Manager and Commentary
About the Team
Putnam Investments has been serving clients and shareholders for over 85 years. We manage a range of equity portfolios with a focus on stock-specific opportunities. Our approach — stock-driven rather than style-driven — is designed to offer consistent outperformance, regardless of the market environment. Our portfolios are fueled by a variety of independent views and perspectives, enhanced by fundamental research and ongoing dialogue and debate. We combine this with portfolio construction that aims to reduce broader macro exposures and manage downside risk.
Putnam Investments
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Managed Fund Since 2014
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Managed Fund Since 2023
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Managed Fund Since 2018
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Managed Fund Since 2019
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Managed Fund Since 2026
Latest Insights
November 2, 2026
August 18, 2026
Performance
Average Annual Total Returns
As of 09/30/2026
Selected Month September 2026
Class Y - With Sales Charge (POP) (%)
Month End
As of 09/30/2026
- 1 Year
- 18.85
- 3 Years
- 24.60
- 5 Years
- 14.89
- 10 Years
- 16.20
- Since Inception(10/02/1995)
- 10.77
Class Y - Without Sales Charge (NAV) (%)
Month End
As of 09/30/2026
- 1 Year
- 18.85
- 3 Years
- 24.60
- 5 Years
- 14.89
- 10 Years
- 16.20
- Since Inception(10/02/1995)
- 10.77
S&P 500 Index (%)
Month End
As of 09/30/2026
- 1 Year
- 15.74
- 3 Years
- 22.89
- 5 Years
- 13.79
- 10 Years
- 15.33
- Since Inception(10/02/1995)
- 10.66
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
The fund began offering Class Y shares on 4/4/2000. Returns for periods prior to 4/4/2000 are based on the fund's Class A performance, which has not been adjusted for the lower operating expenses; had it been adjusted, performance would be higher. For periods after the share class offering, performance for the specific share class is used, reflecting the applicable expenses and maximum sales charges.
Ratings 3
©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Portfolio
Assets
As of09/30/2026 (Updated Monthly)
- Total Net Assets
- $1.23 Billion
Positions
As of 09/30/2026 (Updated Monthly)
Number of Issuers
- Fund
- 140
Portfolio Statistics
As of 09/30/2026 (Updated Monthly)
Price to Earnings (12-Month Forward)
- Fund
- 18.95x
- Fund
- 5.49x
- Fund
- $1,695.18 Billion
Sector Allocation
As of 09/30/2026 % of Total (Updated Monthly)
| Sector | % of Total |
|---|---|
Information Technology | 38.65% |
Financials | 11.37% |
Health Care | 9.47% |
Communication Services | 9.19% |
Consumer Discretionary | 8.05% |
Industrials | 7.02% |
Consumer Staples | 4.14% |
Energy | 3.65% |
Equity Index | 3.59% |
Utilities | 1.83% |
Real Estate | 1.68% |
Materials | 1.46% |
Cash & Other Net Assets | -0.09% |
Holdings
As of 09/30/2026 (Updated Monthly)
NVIDIA Corp
Apple Inc
Microsoft Corp
Alphabet Inc
Amazon.com Inc
PUTNAM SHORT TERM INVESTMENT FUND STIF USD NPV CLASS P TIS A/C # 39210
Lam Research Corp
Advanced Micro Devices Inc
Meta Platforms Inc
Marvell Technology Inc
Distributions & Tax
- Distribution Frequency
- AnnuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
12/21/2026
Pricing
Documents
Fund Literature
Factsheet - Putnam U.S. Research Fund
Regulatory Documents
Annual Report - Putnam U.S. Research Fund - Class Y
Annual Financial Statements and Other Information - Putnam Investment Trust
Semi-Annual Report - Putnam U.S. Research Fund - Class Y
Semi-Annual Financial Statements and Other Information - Putnam U.S. Research Fund
Prospectus - Putnam U.S. Research Fund
Summary Prospectus - Putnam U.S. Research Fund
Statement of Additional Information - Putnam Investment Funds
Fiscal Q1 Holdings - PUTNAM INVESTMENT FUNDS
Fiscal Q3 Holdings - Putnam Investment Funds
Risks
All investments involve risks, including possible loss of principal. The investment style may become out of favor, which may have a negative impact on performance. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund's prospectus.
Important Information
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
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Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
Source: © S&P Dow Jones Indices LLC. All rights reserved.
All Putnam-named funds and Franklin Retirement Advantage, Franklin Dynamic Asset Allocation, and Franklin Multi-Asset Income-named funds and Royce funds are not exchangeable for other funds distributed by Franklin Distributors, LLC.
Franklin Distributors, LLC. Member FINRA/SIPC. Putnam Investment is a Franklin Templeton company. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
The Linked S&P 500 Index represents the performance of the MSCI World Industrials Index (NR) through June 23, 2019, and the performance of the S&P 500® Index thereafter. You cannot invest directly in an index.