Putnam VT Large Cap Growth Fund
Putnam Variable Trust
Expense ratio
Net assets1
$1.14B
Holdings1
48
Category
US Equity
Return

Investment objective & strategy

As of April 28, 2025 · prospectus

Objective. The fund seeks capital appreciation.

Strategy. Investments We invest mainly in common stocks of large U.S. companies, with a focus on growth stocks. Growth stocks are stocks of companies whose earnings are expected to grow faster than those of similar firms, and whose business growth and other characteristics may lead to an increase in stock price. We may consider, among other factors, a companys valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. Under normal circumstances, we invest at least 80% of the funds net assets (plus the amount of any borrowings for investment purposes) in companies of a size similar to those in the Russell 1000 Growth Index. This … Investments We invest mainly in common stocks of large U.S. companies, with a focus on growth stocks. Growth stocks are stocks of companies whose earnings are expected to grow faster than those of similar firms, and whose business growth and other characteristics may lead to an increase in stock price. We may consider, among other factors, a companys valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. Under normal circumstances, we invest at least 80% of the funds net assets (plus the amount of any borrowings for investment purposes) in companies of a size similar to those in the Russell 1000 Growth Index. This policy may be changed only after 60 days notice to shareholders. The fund is non-diversified, which means it may invest in a greater percentage of its assets in fewer issuers than a diversified fund.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
NVIDIA CORP $158.05M 13.85%
APPLE INC $116.91M 10.24%
MICROSOFT CORP $89.83M 7.87%
BROADCOM INC $72.23M 6.33%
ALPHABET INC CL C $66.93M 5.86%
AMAZON.COM INC $51.62M 4.52%
META PLATFORMS INC CL A $51.60M 4.52%
TESLA INC $42.68M 3.74%
LILLY ELI and CO $38.95M 3.41%
MASTERCARD INC CL A $34.32M 3.01%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
2
Exited
2
Increased
14
Decreased
31
Unchanged
3

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Putnam Large Cap Growth Fund · POGAX, POGBX, POGCX, PGORX, PGOYX 94% 0.60%
Putnam Focused Large Cap Growth ETF 82% 0.49%
iShares Russell Top 200 Growth ETF · IWY 71% 0.20%
View all similar funds →

Advisers

As of December 31, 2025 · N-CEN
FirmRole
Franklin Advisers, Inc. Sub-adviser
Franklin Templeton Investment Management Limited Sub-adviser
Putnam Investment Management, LLC Adviser

Footnotes

  1. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.

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