HIGH INCOME SECURITIES FUND — Director's Dealing 2017

Sep 1, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PUTNAM HIGH INCOME SECURITIES FUND (PCF)
CIK: 0000810943
Period of Report: 2017-09-01

Reporting Person: Bulldog Investors, LLC (10% Owner)
Reporting Person: GOLDSTEIN PHILLIP (10% Owner)
Reporting Person: Dakos Andrew (10% Owner)
Reporting Person: Samuels Steven (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-09-01	Common Stock	J	32371	—	Disposed	1059576	Indirect

Footnotes

F1: Certain private investment fund clients of Bulldog Investors, LLC ("Bulldog Investors") are the beneficial owners of these shares. Bulldog Investors disclaims beneficial interest in such shares except to the extent of any pecuniary interest therein. Andrew Dakos, Steven Samuels and Phillip Goldstein are the owners of Bulldog Investors. Each of Messrs. Dakos, Samuels and Goldstein also is a Principal of the general partner of certain of such private investment fund clients of Bulldog Investors, and a limited partner in certain of such private fund clients. Each of Messrs. Dakos, Samuels and Goldstein disclaims beneficial interest in such shares except to the extent of any pecuniary interest therein.

F2: These shares of PCF are held in the account of a private investment fund client of Bulldog Investors. Bulldog Investors is no longer deemed to have a pecuniary interest in such account and as a result such shares will no longer be reported on the Reporting Persons' Form 4.