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High Income Securities Fund
How the company evolved, year by year. Revenue and debt come from the annual reports — for most companies, the 10-K filings with the SEC since 2009; dividends from the payments themselves.
The bars are a balance on the closing date; the lines are what happened during the year. Revenue above equity is ordinary, not an anomaly — it means the company turns its capital over more than once a year.
Major managers that reported this stock in their latest 13F.
None of the investors we track reported a position in PCF.
▼ -40.2% over 5Y.
today you would have $1,062.84▲ +6.3%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 4 closed years. Each multiple uses that year’s closing price and that year’s reported numbers — not today’s. The range is set by the annual reports on record.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Year-end price | $6.15 | $6.53 | $6.42 | $6.50 | |
| P/E | 9.6x | 9.6x | 6.7x | 19.4x | — |
| P/S | 10.0x | 9.1x | 10.0x | 17.1x | — |
| P/B | 0.9x | 0.9x | 0.9x | 0.9x | 0.8x |
| EPS | $0.64 | $0.98 |
Not shown for closed-end funds and BDCs. The methods assume operating profit, and a fund’s earnings per share are capital gains on its portfolio plus interest income — running them through Graham or a discounted cash flow produces a number that looks like a valuation and means nothing. What matters for a fund is its price against net asset value, which this site does not track.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| RVSBRiverview Bancorp Inc | $5.16 | — | 0.7x | 1.55% | -2.52% | $102.96M |
| AMANAmanat Acquisition Corp. | $10.74 | — | — | — | — | $103.91M |
| CHPGChampionsGate Acquisition Corp | $10.47 | 29.1x | — | — | — | $104.57M |
| PBHCPathfinder Bancorp, Inc. | $16.11 |
High Income Securities Fund is a closed-ended balanced income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in both convertible bonds and convertible preferred stocks. The fund benchmarks the performance of its portfolio against a composite index comprising of 50% JPMorgan Developed High Yield Index and 50% BofA Merrill Lynch AllConvertibles Speculative Quality Index. The fund was formerly known as Putnam High Income Securities Fund High Income Securities Fund was formed on July 9, 1987 and is domiciled in the United States.
Company description provided by Yahoo Finance.
| $0.33 |
| -$0.12 |
| Dividend yield | 11.45% | 11.51% | 11.39% | 11.21% | 13.48% |
| Payout | 110.62% | 110.62% | 75.92% | 217.18% | — |
| Profit margin | 92.14% | 89.61% | 94.68% | 87.19% | 152.54% |
| ROE | 6.54% | 8.63% | 8.56% | 4.53% | -2.25% |
Median, not average: a single year of near-zero profit produces a P/E of 400 and would drag an average on its own. P/E years above 200x are left out, the same cut the fair price uses — so this median matches the “its own history” method below. Price and EPS have no median: they are series that grow.
| 1611.0x |
| 0.8x |
| 2.48% |
| 0.11% |
| $101.15M |
| PLCIPelican Acquisition II Corp | $9.90 | — | — | — | — | $104.81M |
| SPKLSpark I Acquisition Corp | $11.56 | — | — | — | — | $100.1M |