# Portfolio overlap — PACAX vs ACWI

Comparing **Putnam Dynamic Asset Allocation Conservative Fund** (2026-03-31) and **iShares MSCI ACWI ETF** (2026-01-31).

- Shared positions: 433
- Putnam Dynamic Asset Allocation Conservative Fund covered by iShares MSCI ACWI ETF: 0.3526305090798547676107662713
- iShares MSCI ACWI ETF covered by Putnam Dynamic Asset Allocation Conservative Fund: 0.3526305090798547676107662713

## Putnam Dynamic Asset Allocation Conservative Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Putnam Short Term Investment Fund, Class P | 0.051928 |  |
| NVIDIA CORP | 0.028969 | ✓ |
| FNCL 2.5 4/26 | 0.025556 |  |
| APPLE INC | 0.024548 | ✓ |
| FNCL 5 4/26 | 0.024086 |  |
| U.S. Treasury Bills | 0.020688 |  |
| MICROSOFT CORP | 0.017362 | ✓ |
| AMAZON.COM INC | 0.014291 | ✓ |
| ALPHABET INC CL A | 0.013625 | ✓ |
| Uniform Mortgage-Backed Security, TBA | 0.010566 |  |
| META PLATFORMS INC CL A | 0.010258 | ✓ |
| BROADCOM INC | 0.008970 | ✓ |
| G2SF 3 4/26 | 0.007987 |  |
| ZAR/USD FORWARD | 0.007984 |  |
| TESLA INC | 0.006751 | ✓ |
| US ULTRA BOND CBT Sep25 | 0.006688 |  |
| CITIGROUP INC | 0.006678 | ✓ |
| MASTERCARD INC CL A | 0.006613 | ✓ |
| LILLY ELI and CO | 0.006572 | ✓ |
| Bank of Montreal | 0.006028 |  |
| FNCL 3.5 4/26 | 0.005946 |  |
| FNCL 4.5 4/26 | 0.005785 |  |
| Coca-Cola Co. (The) | 0.005587 |  |
| LAM RESEARCH CORP | 0.005432 | ✓ |
| Atlantic Asset Securitization LLC | 0.005178 |  |
| ALPHABET INC CL C | 0.004970 | ✓ |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.004760 |  |
| Walmart, Inc. | 0.004746 |  |
| DNB Bank ASA | 0.004692 |  |
| TotalEnergies Capital SA | 0.004463 |  |
| Nestle Finance International Ltd. | 0.004456 |  |
| Royal Bank of Canada | 0.004443 |  |
| Westpac Banking Corp. | 0.004442 |  |
| Gotham Funding Corp. | 0.004435 |  |
| Toronto-Dominion Bank (The) | 0.004431 |  |
| GOLDMAN SACHS GROUP INC | 0.004387 | ✓ |
| CATERPILLAR INC | 0.004308 | ✓ |
| GE VERNOVA LLC | 0.004156 | ✓ |
| NETFLIX INC | 0.004021 | ✓ |
| PHILIP MORRIS INTL INC | 0.004008 | ✓ |
| ING US Funding LLC | 0.003966 |  |
| BofA Securities | 0.003888 |  |
| US DOLLARS | 0.003870 |  |
| G2 MA6820 | 0.003786 |  |
| MERCK & CO | 0.003775 | ✓ |
| US DOLLARS | 0.003753 |  |
| REGENERON PHARMACEUTICALS INC | 0.003653 | ✓ |
| EXXON MOBIL CORP | 0.003158 | ✓ |
| Putnam Government Money Market Fund, Class G | 0.003119 |  |
| AT&T INC | 0.003076 | ✓ |

## iShares MSCI ACWI ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| NVIDIA CORP | 0.048278 | ✓ |
| APPLE INC | 0.040034 | ✓ |
| MICROSOFT CORP | 0.031573 | ✓ |
| AMAZON.COM INC | 0.023859 | ✓ |
| ALPHABET INC CL A | 0.020435 | ✓ |
| ALPHABET INC CL C | 0.017207 | ✓ |
| META PLATFORMS INC CL A | 0.016150 | ✓ |
| BROADCOM INC | 0.015453 | ✓ |
| TSMC | 0.014192 | ✓ |
| TESLA INC | 0.012648 | ✓ |
| JPMORGAN CHASE and CO | 0.008728 | ✓ |
| LILLY ELI and CO | 0.008673 | ✓ |
| BERKSHIRE HATH-B | 0.006873 | ✓ |
| EXXON MOBIL CORP | 0.006239 | ✓ |
| ASML Holding NV | 0.005778 | ✓ |
| JOHNSON&JOHNSON | 0.005694 | ✓ |
| VISA INC-CLASS A | 0.005644 | ✓ |
| WALMART INC | 0.005427 | ✓ |
| SAMSUNG ELECTRONICS CO LTD | 0.005408 |  |
| TENCENT HOLDINGS LTD | 0.005129 |  |
| MICRON TECHNOLOGY INC | 0.004837 | ✓ |
| MASTERCARD INC CL A | 0.004757 | ✓ |
| BlackRock Cash Funds: Institutional, SL Agency Shares | 0.004370 |  |
| COSTCO WHOLESALE CORP | 0.004315 | ✓ |
| ABBVIE INC | 0.004103 | ✓ |
| ADV MICRO DEVICE | 0.003992 | ✓ |
| HOME DEPOT INC | 0.003873 | ✓ |
| BANK OF AMERICA CORPORATION | 0.003866 | ✓ |
| BABA-W | 0.003802 | ✓ |
| NETFLIX INC | 0.003698 | ✓ |
| PROCTER & GAMBLE | 0.003692 | ✓ |
| SK HYNIX INC | 0.003549 |  |
| CHEVRON CORP | 0.003533 | ✓ |
| PALANTIR TECHNOLOGIES INC | 0.003478 | ✓ |
| GENERAL ELECTRIC CO | 0.003362 | ✓ |
| ROCHE HOLDINGS AG (GENUSSCHEINE) | 0.003317 |  |
| HSBC HOLDINGS PL | 0.003200 | ✓ |
| CATERPILLAR INC | 0.003199 | ✓ |
| CISCO SYSTEMS INC | 0.003195 | ✓ |
| COCA-COLA CO/THE | 0.003178 | ✓ |
| LAM RESEARCH CORP | 0.003048 | ✓ |
| WELLS FARGO & CO | 0.003005 | ✓ |
| ASTRAZENECA PLC | 0.002994 | ✓ |
| INTL BUS MACH CORP | 0.002968 |  |
| ORACLE CORP | 0.002931 | ✓ |
| Novartis AG (Registered) | 0.002926 | ✓ |
| GOLDMAN SACHS GROUP INC | 0.002921 | ✓ |
| PHILIP MORRIS INTL INC | 0.002903 | ✓ |
| MERCK & CO | 0.002858 | ✓ |
| RTX CORP | 0.002794 | ✓ |


## Sources

- N-PORT (fund A) — accession `0002071691-26-012254` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/914209/000207169126012254/0002071691-26-012254-index.htm>
- N-PORT (fund B) — accession `0001410368-26-031726` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/1100663/000141036826031726/0001410368-26-031726-index.htm>

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