![[Jackie Cavanaughs avatar]](https://franklintempletonprod.widen.net/content/1oexgldphh/webp/Cavanaugh_Jacquelyne_500x500.png){kind=avatar}
Managed Fund Since 2020
Equity
PGWTX 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.
Total Net Assets
$701.78M
As of 08/31/2026 (Updated Monthly)
Upcoming reorganization into an ETF
Overview
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.
- Benchmark
- S&P 500 Index
- Additional Benchmark
- Putnam Focused Equity Linked Benchmark
- Fund Inception Date
- 12/18/2008
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 31%
Sales Charges, Expenses & Fees
As of 01/01/2026- Gross Expense Ratio
- 0.71%
- Net Expense Ratio
4 - 0.71%
- Maximum Initial Charge
- —
- CDSC
- N/A
- 12b-1 Fee
- —
Identifiers
- Ticker
- PGWTX
- Fund Number
- 8868
- CUSIP Code
- 74676P375
Average Annual Total Returns As of 08/31/2026
Class R6
- 20.60%1 Year
- 22.17%3 Years
- 14.01%5 Years
- 14.59%10 Years
- 15.02%Since Inception
12/18/2008
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 R6 shares on 5/22/2018. Returns for periods prior to 5/22/2018 are based on the fund's Class Y 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 08/31/2026 % of Total (Updated Monthly)
Information Technology37.73% | |
Financials14.47% | |
Consumer Discretionary9.36% | |
Health Care8.73% | |
Communication Services8.25% |
Additional Fund Info
- Share Class Inception Date
- 05/22/2018
- Investment Style
- Large Cap
- Lipper Classification
- Large-Cap Core Funds
- Morningstar Category
5 - Large Blend
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
![[Robert Grays avatar]](https://franklintempletonprod.widen.net/content/uizkusuanl/webp/Gray_Bobby_500x500.png){kind=avatar}
Managed Fund Since 2024
![[Will Rivess avatar]](https://franklintempletonprod.widen.net/content/gvpx4oenhd/webp/Rives_William_500x500.png){kind=avatar}
Managed Fund Since 2025
![[Kate Lakins avatar]](https://franklintempletonprod.widen.net/content/iwdiqpwcuv/webp/Lakin_Kate_500x500.png){kind=avatar}
Managed Fund Since 2026
![[Matt LaPlants avatar]](https://franklintempletonprod.widen.net/content/rwerbwue37/webp/LaPlant_Matt_500x500.png){kind=avatar}
Managed Fund Since 2026
Latest Insights
August 18, 2026
May 12, 2026
Performance
Average Annual Total Returns
As of 08/31/2026
Selected Month August 2026
Class R6 - With Sales Charge (POP) (%)
Month End
As of 08/31/2026
- 1 Year
- 20.60
- 3 Years
- 22.17
- 5 Years
- 14.01
- 10 Years
- 14.59
- Since Inception(12/18/2008)
- 15.02
Class R6 - Without Sales Charge (NAV) (%)
Month End
As of 08/31/2026
- 1 Year
- 20.60
- 3 Years
- 22.17
- 5 Years
- 14.01
- 10 Years
- 14.59
- Since Inception(12/18/2008)
- 15.02
S&P 500 Index (%)
Month End
As of 08/31/2026
- 1 Year
- 20.38
- 3 Years
- 21.04
- 5 Years
- 12.79
- 10 Years
- 15.37
- Since Inception(12/18/2008)
- 15.13
Putnam Focused Equity Linked Benchmark (%)
Month End
As of 08/31/2026
- 1 Year
- 20.38
- 3 Years
- 21.04
- 5 Years
- 12.79
- 10 Years
- 14.32
- Since Inception(12/18/2008)
- 13.32
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 R6 shares on 5/22/2018. Returns for periods prior to 5/22/2018 are based on the fund's Class Y 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.
Data is currently not available for this fund.
Portfolio
Assets
As of08/31/2026 (Updated Monthly)
- Total Net Assets
- $701.78 Million
Positions
As of 08/31/2026 (Updated Monthly)
Number of Issuers
- Fund
- 45
Portfolio Statistics
As of 08/31/2026 (Updated Monthly)
Price to Earnings (12-Month Forward)
- Fund
- 18.74x
- Fund
- 5.27x
- Fund
- $1,767.06 Billion
Geographic Allocation
As of 08/31/2026 % of Total (Updated Monthly)
| Geography | Fund |
|---|---|
United States | 96.65% |
Ireland | 1.40% |
South Korea | 0.61% |
Cash & Cash Equivalents | 1.34% |
Holdings
As of 07/31/2026 (Updated Monthly)
NVIDIA Corp
Microsoft Corp
Apple Inc
Alphabet Inc
Amazon.com Inc
Coca-Cola Co/The
Broadcom Inc
Charles Schwab Corp/The
Lam Research Corp
Exxonmobil Holdings Corp
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
12/22/2025
Pricing
Documents
Fund Literature
Factsheet - Putnam Focused Equity Fund
Regulatory Documents
Prospectus - Putnam Focused Equity Fund
Summary Prospectus - Putnam Focused Equity Fund
Annual Report - Putnam Focused Equity Fund - Class R6
Annual Financial Statements and Other Information - Putnam Focused Equity Fund
Semi-Annual Report - Putnam Focused Equity Fund - Class R6
Semi-Annual Financial Statements and Other Information - Putnam Focused Equity Fund
Statement Of Additional Information - Putnam Funds Trust
Fiscal Q1 Holdings - Putnam Funds Trust
Fiscal Q3 Holdings - Putnam Funds Trust
Risks
All investments involve risks, including possible loss of principal. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. 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
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.
You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.
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 Putnam Focused Equity Linked Benchmark represents the performance of the MSCI World Industrials Index (NR) through June 23, 2019, and the performance of the S&P 500® Index thereafter. Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI. Net Returns (NR) include income net of tax withholding when dividends are paid.
Net Returns (NR) include income net of tax withholding when dividends are paid.
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.
FINANCIAL ADVISORS: Please note that not all share classes may be available for sale at your firm. Please call Franklin Templeton at (800) DIAL BEN/342-5236 for more information.