Putnam High Income Securities Fund (the Fund) is a diversified, closed-end management investment company. The investment objective of the fund is to seek to provide current income as a primary objective and capital appreciation as a secondary objective by investing in a portfolio primarily consisting of high-yielding convertible and nonconvertible securities with the potential for capital appreciation. The Fund may invest in higher yielding, lower rated bonds that may have a higher rate of default. The Fund�s portfolio includes convertible bonds and notes, convertible preferred stocks, corporate bonds and notes, preferred stocks, senior loans, units, warrants and short-term investments. The Fund�s investment manager is Putnam Investment Management, LLC.