Multi-Asset

PCGYX Putnam Convertible Securities Fund

Balanced profile. The fund seeks to achieve an equilibrium balancing much of the upside potential of equities, the lower downside risk of bonds, and an attractive current yield.
Effective diversification. The fund offers diversification potential for investor portfolios: Convertible securities may provide more attractive risk-adjusted returns than stocks and have near zero correlation with aggregate bond strategies.
Joint venture. Uniquely combining both dedicated fixed income and equity expertise to enhance the ability to fully exploit these hybrid securities.

Overview

See the risks and other important information.

Fund Facts

Fund description

The fund seeks, with equal emphasis, current income and capital appreciation. Its secondary objective is conservation of capital. The fund seeks to achieve an equilibrium balancing much of the upside potential of equities, the lower downside risk of bonds, and an attractive current yield.

Benchmark: ICE BofA U.S. Convertible Index
Dividend Frequency, if any: Quarterly
Fund Inception Date: 06/29/1972
Distribution Rate at NAV ⁴As of 11/13/2025 (Updated Daily): 1.45%
30-Day SEC Yield—With Waiver ^5,6,7As of 10/31/2025 (Updated Monthly): 1.02%
30-Day SEC Yield—Without Waiver ^5,7As of 10/31/2025 (Updated Monthly): 1.02%
Effective Duration As of 10/31/2025 (Updated Monthly): 1.30 Years

Sales Charges, Expenses & Fees

As of 02/28/2025

Gross Expense Ratio⁸: 0.78%
Net Expense Ratio^8,9: 0.78%
Maximum Initial Charge: N/A
CDSC: N/A
12b-1 Fee: N/A

Identifiers

Ticker: PCGYX
Fund Number: 1807
CUSIP Code: 746476407

Average Annual Total Returns As of 10/31/2025

View performance section for additional info As of 10/31/2025

Class Y

With Sales Charge (POP)

Without Sales Charge (NAV)

17.19%1 Year
12.63%3 Years
7.50%5 Years
10.09%10 Years
9.91%Since Inception
06/29/1972

Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.

Top Sectors

View portfolio section for additional info

As of 10/31/2025 % of Total (Updated Monthly)

Information Technology34.45%

Industrials13.87%

Financials12.25%

Consumer Discretionary10.89%

Health Care7.69%

Additional Fund Info

Share Class Inception Date: 12/30/1998
Investment Style: Convertibles
Lipper Classification: Convertible Securities Funds
Morningstar Category: Convertibles

Manager and Commentary

About the Team

Franklin Templeton Fixed Income

Franklin Templeton Fixed Income is a fixed income specialist with a measured "no surprises" approach that is committed to the goal of delivering clients consistent, predictable fixed income results. We pursue dimensional sources of potential alpha across all global fixed income securities, sectors, and markets.

Putnam Investments

Managed Fund Since 2006

Managed Fund Since 2017

Latest Insights

November 12, 2025

Flash Insights: Rate cuts and returns—what past Fed cycles reveal

October 30, 2025

On My Mind: Dancing in the dark

October 28, 2025

Flash Insights: New York (City) state of mind—NYC mayoral election

October 9, 2025

Central Bank Watch: Measured moves

Performance

Average Annual Total Returns

As of 10/31/2025

Month End

Quarter End

As of

Class Y - With Sales Charge (POP) (%)

Month End

As of 10/31/2025

Class Y - Without Sales Charge (NAV) (%)

Month End

As of 10/31/2025

ICE BofA U.S. Convertible Index (%)

Month End

As of 10/31/2025

Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.

See the risks and other important information.

The fund began offering Class Y shares on 12/30/1998. Returns for periods prior to 12/30/1998 are based on the fund's Class A performance, which has not been adjusted for the lower operating expenses; had it been adjusted, performance would be higher. For periods after the share class offering, performance for the specific share class is used, reflecting the applicable expenses and maximum sales charges.

Overall Morningstar Rating: Overall Morningstar Rating: 3 out of 5 stars
As of 10/31/2025

3 Years: 3 Years: 3 out of 5 stars
72 Funds in category

5 Years: 5 Years: 3 out of 5 stars
69 Funds in category

10 Years: 10 Years: 3 out of 5 stars
61 Funds in category

Rating Category: Convertibles

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Morningstar Style Box

As of 10/31/2025

Current Historical
			Large
			Medium
			Small
Value	Blend	Growth
Style

Size

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Portfolio

Assets

As of10/31/2025 (Updated Monthly)

Total Net Assets: $531.71 Million

Positions

As of 10/31/2025 (Updated Monthly)

Number of Holdings

Fund: 113

Portfolio Statistics

As of 10/31/2025 (Updated Monthly)

Weighted Average Market Capitalization (USD)

Fund: $98.55 Billion

Effective Duration

Fund: 1.30 Years

Price to Earnings (12-Month Forward)

Fund: 29.94x

Price to Book

Fund: 3.67x

Sector Allocation

As of 10/31/2025 % of Total (Updated Monthly)

Sector Allocation
Sector	% of Total	Benchmark
Information Technology	34.45%	31.51%
Industrials	13.87%	12.08%
Financials	12.25%	12.05%
Consumer Discretionary	10.89%	11.17%
Health Care	7.69%	11.84%
Utilities	5.75%	9.67%
Communication Services	4.40%	3.89%
Real Estate	4.18%	3.49%
Consumer Staples	2.34%	0.78%
Energy	1.98%	2.06%
Materials	1.19%	1.47%
Cash & Other Net Assets	1.00%	—

Holdings
As of 09/30/2025 (Updated Monthly)

Net Cash

SEAGATE HDD CAYMAN USD 03.5000 06/01/2028

BOEING CO/THE 06.0000 CV PFD

LUMENTUM HLDG P/P 144A CV 00.3750 03/15/2032

NEXTERA ENERG CV 03.0000 03/01/2027

STRATEGY INC P/P 144A CV 00.0000 03/01/2030

BANK OF AMERICA CORP 07.2500 CV PFD

GUIDEWIRE SOF P/P 144A CV 01.2500 11/01/2029

WAYFAIR INC CV 03.2500 09/15/2027

DOORDASH INC P/P 144A CV 00.0000 05/15/2030

Distributions & Tax

Distribution Frequency
Ex-Dividend Fund: This type of fund declares periodic dividends, which are paid to shareholders who own the fund as of a certain date - known as the "record date". After the record date, the fund is said to be trading "ex-dividend"(literally, without the dividend). An investor who buys shares during the interval between the record date and the payment of the dividend does not receive the dividend. A fund that's in the ex-dividend period is marked with an "x" in newspaper listings.

Daily Accrual Fund: This type of fund typically declares income dividends each day that its net asset value is calculated. These dividends remain in the fund until the designated reinvestment or payment date and are distributed to the shareholders, generally once a month, as additional shares or cash, respectively.: QuarterlyThis fund is an ex-Dividend fund
Capital Gain Distributions: December

Rates and Yields Read important information about results and other investment disclosures

Distribution Rate ⁴

As of 11/13/2025 (Updated Daily)

At Net Asset Value (NAV) 1.45%

30-Day SEC Yield ^5,6,7

As of 10/31/2025 (Updated Monthly)

w/ Waiver 1.02%

w/o Waiver 1.02%

Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.

Distributions Per Share
Distribution amounts may be estimates

12/22/2025

10/20/2025

07/21/2025

03/06/2025

Pricing

Pricing History

As of 11/13/2025 (Updated Daily)

Time Period

From

From Date

To Date

Daily Fund Prices

As of 11/13/2025

Share Prices

As of 11/13/2025

NAV ¹(Net Asset Value): $27.73
NAV Change ¹: $-0.70
NAV Change (%) ¹: -2.46%
POP ¹⁰(Public Offering Price): $27.73

52-Week Range

Highest NAV As of 10/15/2025: $29.10
Lowest NAV As of 04/08/2025: $23.06

Documents

Fund Literature

Fund Literature
Checkbox	Name	Download	Add to Cart
Checkbox	Factsheet - Putnam Convertible Securities Fund	Download Document

Regulatory Documents

Regulatory Documents
Checkbox	Name	Download
Checkbox	Annual Report - Putnam Convertible Securities Fund - Class Y	Download Document
Checkbox	Annual Financial Statements and Other Information - Putnam Convertible Securities Fund	Download Document
Checkbox	Semi-Annual Report - Putnam Convertible Securities Fund Class Y	Download Document
Checkbox	Semiannual Financial Statements and Other Information - Putnam Convertible Securities Fund	Download Document
Checkbox	Prospectus - Putnam Convertible Securities Fund	Download Document
Checkbox	Summary Prospectus - Putnam Convertible Securities Fund	Download Document
Checkbox	Statement Of Additional Information - Putnam Convertible Securities FundMailed hardcopies unavailable.	Download Document
Checkbox	Policy and Procedures - Putnam Convertible Securities FundMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q1 Holdings - Putnam Convertible Securities FundMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q3 Holdings - Putnam Convertible Securities FundMailed hardcopies unavailable.	Download Document

Risks

All investments involve risks, including possible loss of principal. Convertible securities are subject to the risks of stocks when the underlying stock price is high relative to the conversion price and debt securities when the underlying stock price is low relative to the conversion price. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Active management does not ensure gains or protect against market declines. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund's prospectus.

Important Information

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.

You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.

Important data provider notices and terms available at www.franklintempletondatasources.com.

Performance data quoted represents past performance, which does not guarantee future results.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.

The ICE BofA All Alternatives U.S. Convertibles Index comprises domestic securities of all quality grades that are convertible into U.S. dollar-denominated common stock, ADRs or cash equivalents and have a delta (measure of equity sensitivity) that indicates the security likely has a balance between the debt and equity characteristics of the security.
Source: The index data referenced herein is the property of Intercontinental Exchange ("ICE") and/or its licensors and has been licensed for use by Franklin Templeton. ICE and its licensors accept no liability in connection with this use.

Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

Putnam funds are not exchangeable for other funds distributed by Franklin Distributors, LLC.

Franklin Distributors, LLC. Member FINRA/SIPC. Putnam Investment is a Franklin Templeton company. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.

Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.

Footnotes

Net Asset Value - the amount per share you would receive if you sold shares that day. NAV Change indicates a change in the Net Asset Value from the previous business day.
Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics.
©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Distribution Rate is calculated by annualizing the most recent distribution amount paid, divided by the NAV as of the date indicated. The Distribution Rate calculation includes income and return of capital, and excludes special distributions. The Distribution Rate is not guaranteed, subject to change, and is not a quotation of fund performance.
During periods of rising inflation, fund yields can vary significantly from month-to-month and may not be repeated.
With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.
30-Day SEC Yield is calculated using the net income (interest and dividends) per share earned over a trailing 30-day period (annualized), divided by the fund’s share price at the end of that period. It may not equal the fund’s actual income distribution rate, which reflects the fund’s past dividends paid to shareholders.
Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.
Public Offering Price – the purchase price for each share of the fund on a given day. It includes the maximum initial sales charge, if any.

PCGYX Putnam Convertible Securities Fund

Popular Documents

Overview

Fund Facts

Fund description

Sales Charges, Expenses & Fees

Identifiers

Average Annual Total Returns As of 10/31/2025

Class Y

Top Sectors

Additional Fund Info

Manager and Commentary

About the Team

Latest Insights

Performance

Average Annual Total Returns

Ratings ³

Portfolio

Assets

Positions

Portfolio Statistics

Sector Allocation

Holdings
As of 09/30/2025 (Updated Monthly)

Distributions & Tax

Rates and Yields Read important information about results and other investment disclosures

Distributions Per Share
Distribution amounts may be estimates

Pricing

Pricing History

November 2025

November 2025

Daily Fund Prices

Share Prices

52-Week Range

Documents

Risks

Important Information

Footnotes

Sunday	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday

Sunday	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday

Individual Investor

Financial Professional

Institutional Investor

PCGYX Putnam Convertible Securities Fund

Popular Documents

Overview

Fund description

Sales Charges, Expenses & Fees

Identifiers

Class Y

Top Sectors

Additional Fund Info

Manager and Commentary

About the Team

Latest Insights

Performance

Average Annual Total Returns

Ratings 3

Portfolio

Sector Allocation

Distributions & Tax

Rates and Yields Read important information about results and other investment disclosures

Pricing

Chart

Daily Fund Prices

Documents

Risks

Important Information

Footnotes

Ratings ³