Equity

PGIVX Putnam Focused Equity Fund

Focused on best ideas. With a concentrated approach, the fund can build relatively large positions in the highest-conviction ideas of each portfolio manager.
Intensive research process. Each manager chooses stocks in a process that includes sector-based research, talking with a company's distributors, and deep financial analysis that considers multiple business scenarios.
Careful construction. Multiskilled managers apply decades of experience and intensive sector expertise to build a concentrated portfolio in which each holding has meaningful performance impact.

Overview

See the risks and other important information.

Fund Facts

Fund description

The fund seeks capital appreciation. With a concentrated approach, the fund can build relatively large positions in the highest-conviction ideas of each portfolio manager.

Fund Inception Date: N/A
Dividend Frequency, if any: N/A
Portfolio Turnover: N/A

Sales Charges, Expenses & Fees

Gross Expense Ratio¹: N/A
Net Expense Ratio^1,2: N/A
Maximum Initial Charge: N/A
CDSC: N/A
12b-1 Fee: N/A

Identifiers

Ticker: N/A
Fund Number: N/A
CUSIP Code: N/A

Average Annual Total Returns As of 11/30/2025

View performance section for additional info As of 11/30/2025

Class B

With Sales Charge (POP)

Without Sales Charge (NAV)

—1 Year
—3 Years
—5 Years
—10 Years
—Since Inception
12/18/2008

Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.

Top Sectors

View portfolio section for additional info

As of 11/30/2025 % of Total (Updated Monthly)

Top Sectors
Information Technology33.87%
Financials12.95%
Communication Services10.84%
Consumer Discretionary9.72%
Health Care9.58%

Additional Fund Info

Share Class Inception Date: N/A
Investment Style: N/A
Lipper Classification: N/A
Morningstar Category³: N/A

Manager and Commentary

About the Team

Putnam Investments

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

Managed Fund Since 2020

Managed Fund Since 2024

Managed Fund Since 2025

Latest Insights

December 10, 2025

Equities in 2026: What could go right?

August 14, 2025

US equities: Earnings growth is key for sustained market gains

June 3, 2025

Rethinking global allocation: Why the tide may be turning

May 20, 2025

Quick Thoughts: Can AI technology stocks rebound from 2025 volatility?

Performance

Average Annual Total Returns

Month End

Quarter End

As of

Historical performance is not available for the selected time period. Please revise your search criteria to see available performance.

Portfolio

Assets

As of10/31/2025 (Updated Monthly)

Total Net Assets: $731.32 Million

Positions

As of 10/31/2025 (Updated Monthly)

Number of Issuers

Fund: 42

Portfolio Statistics

As of 10/31/2025 (Updated Monthly)

Weighted Average Market Capitalization (USD)

Fund: $1,705.83 Billion

Price to Book

Fund: 5.15x

Price to Earnings (12-Month Forward)

Fund: 23.25x

Market Capitalization Allocation

As of 11/30/2025 % of Total (Updated Monthly)

Market Capitalization Allocation
Market Capitalization	Fund
$5.2B - $30.6B	0.75%
$30.6B - $130.7B	18.04%
Over $130.7B	78.77%
Cash and other assets	2.44%

Holdings
As of 10/31/2025 (Updated Monthly)

MICROSOFT CORP SEDOL 2588173

NVIDIA CORP SEDOL 2379504

APPLE INC SEDOL 2046251

AMAZON.COM INC SEDOL 2000019

ALPHABET INC-CL A SEDOL BYVY8G0

BROADCOM INC SEDOL BDZ78H9

META PLATFORMS INC-CLASS A SEDOL B7TL820

WALMART INC SEDOL 2936921

ELI LILLY & CO SEDOL 2516152

SCHWAB (CHARLES) CORP SEDOL 2779397

Distributions & Tax

Federal ID Number 26-3460344

For information on tax years prior to 2008, please contact us

These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.

Distributions per Share ($)

Year

Data not currently available.

Pricing

Data is currently not available for this fund.

Daily Fund Prices

Documents

Fund Literature

Fund Literature
Checkbox	Name	Download	Add to Cart
Checkbox	Factsheet - Putnam Focused Equity Fund	Download Document

Risks

All investments involve risks, including possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. The portfolio is non-diversified and may invest in a relatively small number of issuers, which may negatively impact the performance and result in greater fluctuation in value. The investment style may become out of favor, which may have a negative impact on performance. Short selling is a speculative strategy. Unlike the possible loss on a security that is purchased, there is no limit on the amount of loss on an appreciating security that is sold short. Active management does not ensure gains or protect against market declines. 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

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

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.

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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.

Putnam 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.

Footnotes

Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. 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 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 return, 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 return. 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. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics.

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