Putnam Small Cap Growth Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Putnam Small Cap Growth Fund held 110 positions with $3.40B in net assets. Its ten largest holdings made up 30.6% of the fund. The PNSAX share class costs 1.17% a year. Over the 12 months to May 2026, PNSAX returned 32.1%, with dividends reinvested. In 2026 Q2 it added 40 new positions and exited 32.
The fund seeks capital appreciation.
The fund invests mainly in common stocks of small U.S. companies aligned with the Russell 2000 Growth Index, selecting stocks based on valuation, financial strength, growth potential, competitive position, and projected earnings and cash flows. The fund maintains at least 80% of net assets in companies sized similarly to index constituents, a policy that may change only after 60 days' notice to shareholders. Because the fund's returns depend on the manager's security selections rather than index replication, performance may diverge from the Russell 2000 Growth Index.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Putnam Cash Collateral Pool LLC | 10.97% | $372.67M | — | — |
Putnam Short Term Investment Fund | 2.78% | $94.51M | — | — |
2.56% | $87.11M | 554.7K | $157.03 | |
2.45% | $83.31M | 129.3K | $644.06 | |
Nova Ltd. | 2.32% | $78.70M | 144.9K | $542.94 |
2.07% | $70.35M | 1.0M | $69.74 | |
2.06% | $69.99M | 290.7K | $240.73 | |
2.02% | $68.55M | 183.8K | $372.87 | |
BELFBBel Fuse, Inc. | 1.70% | $57.65M | 173.1K | $333.04 |
ATZAFAritzia, Inc. | 1.68% | $57.09M | 517.7K | $110.27 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 110 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 96.66% |
| Cash & short-term | 10.97% |
| Other | 3.29% |
These positions come to 110.92% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
By sector
- Industrials
- 21.0%
- Information Technology
- 20.8%
- Health Care
- 19.8%
- Cash
- 9.9%
- 8 other sectors
- 28.5%
- Industrials
- 21.0%
- Information Technology
- 20.8%
- Health Care
- 19.8%
- Cash
- 9.9%
- International
- 7.1%
- Financials
- 6.3%
- Consumer Discretionary
- 4.4%
- Energy
- 3.6%
- Other
- 3.0%
- Materials
- 2.5%
- Consumer Staples
- 1.3%
- Communication Services
- 0.3%
How it has done
PNSAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 18.05%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.93% | +31.11% | +64.75% | +51.04% | -13.44% | |
| 0.92% | +32.42% | +69.74% | +58.75% | -13.28% | |
| 1.17% | +32.10% | +68.51% | +56.81% | -13.31% | |
| — | — | — | — | — | |
| 1.42% | +31.77% | +67.25% | +54.88% | -13.35% | |
| 0.76% | +32.59% | +70.53% | +59.94% | -13.26% |
Fees & fund details
Putnam Small Cap Growth Fund is an actively managed U.S. equity fund. 48% of PNSAX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 82% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.76% – 1.93%· PNSAX 1.17%
- Portfolio turnover
- 51.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
40 new· the largest 8
32 exited· the largest 8
Understand how this fund fits with the rest.
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