George Putnam Balanced Fund
George Putnam Balanced Fund · 6 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
George Putnam Balanced Fund is an aggressive allocation fund. 20% of PGEOX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 94% of the fund’s equity).
- Asset class
- Allocation (multi-asset)
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Aggressive
Fund profile
As filed in the prospectus · 2025 Q4
The fund seeks to provide a balanced investment composed of a well-diversified portfolio of stocks and bonds which produce both capital growth and current income.
The fund invests primarily in common stocks of large U.S. companies selected for valuation, financial strength, growth potential, and competitive position, alongside investment-grade bonds with intermediate- to long-term maturities, with greater emphasis on equities. The fund's returns depend on the Investment Manager's security selection decisions for both stocks and bonds. The fund may use derivatives including futures, options, warrants, and swap contracts for hedging and non-hedging purposes.
| Share class | Expense ratio |
|---|---|
| PGEOX | 0.91% |
| PGPCX | 1.66% |
| PGEMX | 1.41% |
| PGPRX | 1.16% |
| PGEYX | 0.66% |
| C000136854 | 0.69% |
| C000136855 | 0.60% |
Portfolio turnover 97.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 62.88% |
| Bonds | 27.69% |
| Securitized | 8.71% |
| Other | 4.24% |
| Cash & short-term | 0.46% |
| Derivatives | -0.02% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Information Technology | 21.4% |
| Government | 14.6% |
| Financials | 9.5% |
| Securitized | 8.7% |
| 12 smaller | 45.7% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +22.93% | +55.47% | +50.88% | 8.92% | -6.16% | |
| — | — | — | — | — | |
| +22.03% | +51.97% | +45.35% | 8.92% | -6.34% | |
| +22.33% | +53.10% | +47.20% | 8.90% | -6.30% | |
| +22.65% | +54.30% | +49.01% | 8.90% | -6.24% | |
| +23.27% | +56.63% | +52.73% | 8.94% | -6.11% | |
| +23.20% | +56.56% | +52.78% | 8.92% | -6.10% | |
| +23.32% | +56.90% | +53.32% | 8.90% | -6.05% |
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 99.8% |
| Floating rate | 0.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.5% |
| 1-3y | 23.3% |
| 3-5y | 13.9% |
| 5-10y | 17.2% |
| 10y+ | 43.2% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 51% |
| Credit spreads | 49% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.84 yr |
| High yield | +0.03 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.18 yr | 9% |
| 5 yr | 0.37 yr | 19% |
| 10 yr | 0.65 yr | 34% |
| 30 yr | 0.72 yr | 37% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.18 yr | 10% |
| 5 yr | 0.37 yr | 20% |
| 10 yr | 0.63 yr | 34% |
| 30 yr | 0.69 yr | 37% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $976 | $19 |
| 1 yr | +0.18 | +0.18 | +0.00 | $41.4k | $857 |
| 5 yr | +0.37 | +0.35 | +0.02 | $82.0k | $4.4k |
| 10 yr | +0.65 | +0.63 | +0.01 | $146.5k | $1.4k |
| 30 yr | +0.72 | +0.68 | +0.00 | $160.2k | $437 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 1.91 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| NVDA | NVIDIA Corp.NVDA | 4.34% | $199.57 | $101.62M | 509.2K |
| — | Putnam Short Term Investment Fund | 4.24% | — | $99.39M | — |
| GOOGL | Alphabet, Inc.GOOGL | 3.84% | $384.80 | $90.05M | 234.0K |
| MSFT | Microsoft Corp.MSFT | 3.54% | $407.78 | $82.94M | 203.4K |
| AAPL | Apple, Inc.AAPL | 3.21% | $271.35 | $75.17M | 277.0K |
| AMZN | Amazon.com, Inc.AMZN | 3.03% | $265.06 | $70.92M | 267.6K |
| — | United States of America3.88% · due 2028-03-31 | 2.29% | — | $53.76M | — |
| AVGO | Broadcom, Inc.AVGO | 2.25% | $417.43 | $52.80M | 126.5K |
| — | United States of America2.38% · due 2029-03-31 | 1.76% | — | $41.16M | — |
| LRCX | Lam Research Corp.LRCX | 1.72% | $257.86 | $40.28M | 156.2K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 30.23% of net assets, top 25 45.81%, across 348 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
Sign in free