| UNITED STATES SECURITIES AND EXCHANGE COMMISSION | ||
| Washington, D.C. 20549 | ||
FORM N-Q | ||
| QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY | ||
| Investment Company Act file number: | (811-02280) |
| Exact name of registrant as specified in charter: | Putnam Convertible Securities Fund |
| Address of principal executive offices: | One Post Office Square, Boston, Massachusetts 02109 |
| Name and address of agent for service: | Robert T. Burns, Vice President One Post Office Square Boston, Massachusetts 02109 |
| Copy to: | Bryan Chegwidden, Esq. Ropes & Gray LLP 1211 Avenue of the Americas New York, New York 10036 |
| Registrant’s telephone number, including area code: | (617) 292-1000 |
| Date of fiscal year end: | October 31, 2015 |
| Date of reporting period: | January 31, 2015 |
Item 1. Schedule of Investments: |
| Putnam Convertible Securities Fund | ||||||
| The fund's portfolio | ||||||
| 1/31/15 (Unaudited) | ||||||
| CONVERTIBLE BONDS AND NOTES (69.3%)(a) | ||||||
| Principal amount | Value | |||||
| Airlines (—%) | ||||||
| Lufthansa Malta Blues LP 144A cv. sr. unsec. notes 0 3/4s, 2017 (Malta) | EUR | 17,000 | $57,814 | |||
| 57,814 | ||||||
| Automotive (1.4%) | ||||||
| Navistar International Corp. 144A cv. sr. unsec. unsub. notes 4 3/4s, 2019 | $7,221,000 | 6,453,769 | ||||
| Tesla Motors, Inc. cv. sr. unsec. notes 1 1/4s, 2021 | 8,155,000 | 6,998,009 | ||||
| 13,451,778 | ||||||
| Biotechnology (8.4%) | ||||||
| Aegerion Pharmaceuticals, Inc. 144A cv. sr. unsec. notes 2s, 2019 | 3,770,000 | 3,244,556 | ||||
| AMAG Pharmaceuticals, Inc. cv. sr. unsec. unsub. notes 2 1/2s, 2019 | 6,345,000 | 10,968,919 | ||||
| ANI Pharmaceuticals, Inc. cv. sr. unsec. notes 3s, 2019 | 2,338,000 | 2,451,978 | ||||
| ARIAD Pharmaceuticals, Inc. 144A cv. sr. unsec. notes 3 5/8s, 2019 | 6,020,000 | 5,940,988 | ||||
| BioMarin Pharmaceutical, Inc. cv. sr. unsec. sub. notes 1 1/2s, 2020 | 9,024,000 | 11,618,400 | ||||
| Emergent BioSolutions, Inc cv. sr. unsec. unsub. bonds 2 7/8s, 2021 | 5,210,000 | 5,981,731 | ||||
| Gilead Sciences, Inc. cv. sr. unsec. notes 1 5/8s, 2016 | 3,103,000 | 14,283,497 | ||||
| Illumina, Inc. 144A cv. sr. unsec. notes 0 1/2s, 2021 | 3,760,000 | 4,443,850 | ||||
| Medicines Co. (The) cv. sr. unsec. notes 2 1/2s, 2022 | 6,795,000 | 7,364,081 | ||||
| Medivation, Inc. cv. sr. unsec. unsub. notes 2 5/8s, 2017 | 3,699,000 | 7,834,944 | ||||
| Merrimack Pharmaceuticals, Inc. cv. sr. unsec. unsub. notes 4 1/2s, 2020 | 3,159,000 | 5,135,349 | ||||
| 79,268,293 | ||||||
| Broadcasting (1.4%) | ||||||
| Liberty Media Corp. cv. sr. unsec. bonds 1 3/8s, 2023 | 13,096,000 | 12,694,935 | ||||
| 12,694,935 | ||||||
| Commercial and consumer services (5.5%) | ||||||
| Carriage Services, Inc. 144A cv. unsec. sub. notes 2 3/4s, 2021 | 4,615,000 | 5,183,222 | ||||
| CBIZ, Inc. 144A cv. sr. sub. notes 4 7/8s, 2015 | 3,660,000 | 4,305,075 | ||||
| Ctrip.com International, Ltd. cv. sr. unsec. bonds 1 1/4s, 2018 (China) | 3,290,000 | 3,228,313 | ||||
| Euronet Worldwide, Inc. 144A cv. sr. unsec. notes 1 1/2s, 2044 | 5,544,000 | 5,270,265 | ||||
| Huron Consulting Group, Inc. cv. sr. unsec. unsub. notes 1 1/4s, 2019 | 5,116,000 | 5,768,290 | ||||
| Live Nation Entertainment, Inc. 144A cv. sr. unsec. notes 2 1/2s, 2019 | 10,068,000 | 10,514,768 | ||||
| Monster Worldwide, Inc. 144A cv. sr. unsec. notes 3 1/2s, 2019 | 4,580,000 | 4,637,250 | ||||
| Priceline Group, Inc. (The) cv. sr. unsec. unsub. notes 1s, 2018 | 10,836,000 | 13,517,910 | ||||
| 52,425,093 | ||||||
| Communications equipment (0.5%) | ||||||
| Ciena Corp. 144A cv. sr. unsec. notes 3 3/4s, 2018 | 4,059,000 | 4,840,358 | ||||
| 4,840,358 | ||||||
| Components (0.4%) | ||||||
| Finisar Corp. cv. sr. unsec. bonds 0 1/2s, 2033 | 4,027,000 | 3,855,853 | ||||
| 3,855,853 | ||||||
| Computers (5.2%) | ||||||
| Akamai Technologies, Inc. 144A cv. sr. unsec. notes zero %, 2019 | 4,644,000 | 4,699,148 | ||||
| Brocade Communications Systems, Inc. cv. sr. unsec. notes 1 3/8s, 2020 | 1,950,000 | 1,997,531 | ||||
| Dealertrack Technologies, Inc. cv. company guaranty sr. unsec. notes 1 1/2s, 2017 | 4,028,000 | 4,919,195 | ||||
| Infinera Corp. 144A cv. sr. unsec. unsub. bonds 1 3/4s, 2018 | 4,287,000 | 6,039,311 | ||||
| SanDisk Corp. cv. sr. unsec. bonds 0 1/2s, 2020 | 7,881,000 | 8,398,191 | ||||
| ServiceNow, Inc. cv. sr. unsec. unsub. bonds zero %, 2018 | 6,659,000 | 7,932,534 | ||||
| Synchronoss Technologies, Inc. cv. sr. unsec. notes 0 3/4s, 2019 | 6,782,000 | 7,180,443 | ||||
| Verint Systems, Inc. cv. sr. unsec. notes 1 1/2s, 2021 | 7,254,000 | 7,720,976 | ||||
| 48,887,329 | ||||||
| Conglomerates (1.4%) | ||||||
| Siemens Financieringsmaatschappij N.V. cv. company guaranty sr. unsec. bonds 1.65s, 2019 (Netherlands) | 11,250,000 | 13,042,688 | ||||
| 13,042,688 | ||||||
| Construction (0.5%) | ||||||
| Cemex SAB de CV cv. unsec. sub. notes 3 3/4s, 2018 (Mexico) | 3,990,000 | 4,468,800 | ||||
| 4,468,800 | ||||||
| Consumer (0.9%) | ||||||
| Jarden Corp. cv. company guaranty sr. unsec. sub. bonds 1 7/8s, 2018 | 3,726,000 | 5,866,121 | ||||
| Jarden Corp. 144A cv. company guaranty sr. unsec. sub. notes 1 1/8s, 2034 | 2,314,000 | 2,648,084 | ||||
| 8,514,205 | ||||||
| Consumer finance (1.0%) | ||||||
| Encore Capital Group, Inc. cv. company guaranty sr. unsec. bonds 3s, 2020 | 5,263,000 | 5,302,473 | ||||
| PRA Group, Inc. cv. sr. unsec. unsub. bonds 3s, 2020 | 3,944,000 | 4,054,925 | ||||
| 9,357,398 | ||||||
| Electronics (6.9%) | ||||||
| GT Advanced Technologies, Inc. cv. sr. unsec. notes 3s, 2020 (In default)(NON) | 2,944,000 | 1,133,440 | ||||
| Intel Corp. cv. jr. sub. notes 3 1/4s, 2039 | 11,170,000 | 18,179,175 | ||||
| Jazz Technologies, Inc. 144A cv. company guaranty sr. unsec. notes 8s, 2018 | 1,523,000 | 2,301,634 | ||||
| Mentor Graphics Corp. cv. sub. unsec. notes 4s, 2031 | 6,530,000 | 7,905,381 | ||||
| Micron Technology, Inc. cv. sr. unsec. bonds Ser. E, 1 5/8s, 2033 | 8,488,000 | 22,843,330 | ||||
| SunEdison, Inc. 144A cv. sr. unsec. notes 0 1/4s, 2020 | 4,506,000 | 4,201,845 | ||||
| Vishay Intertechnology, Inc. 144A cv. sr. unsec. notes 2 1/4s, 2041 | 5,210,000 | 4,431,756 | ||||
| Xilinx, Inc. cv. sr. unsec. notes 2 5/8s, 2017 | 3,275,000 | 4,542,016 | ||||
| 65,538,577 | ||||||
| Energy (oil field) (1.0%) | ||||||
| Hornbeck Offshore Services, Inc. cv. company guaranty sr. unsec. notes 1 1/2s, 2019 | 3,239,000 | 2,670,151 | ||||
| SEACOR Holdings, Inc. cv. sr. unsec. bonds 3s, 2028 | 4,102,000 | 3,691,800 | ||||
| SEACOR Holdings, Inc. cv. sr. unsec. unsub. bonds 2 1/2s, 2027 | 2,968,000 | 3,107,125 | ||||
| 9,469,076 | ||||||
| Entertainment (0.7%) | ||||||
| TiVo, Inc. 144A cv. sr. unsec. notes 2s, 2021 | 7,007,000 | 6,420,164 | ||||
| 6,420,164 | ||||||
| Financial (0.7%) | ||||||
| Radian Group, Inc. cv. sr. unsec. unsub. notes 3s, 2017 | 4,820,000 | 7,034,188 | ||||
| 7,034,188 | ||||||
| Health-care services (2.3%) | ||||||
| Anthem, Inc. cv. sr. unsec. bonds 2 3/4s, 2042 | 6,035,000 | 11,017,647 | ||||
| HealthSouth Corp. cv. sr. unsec. sub. notes 2s, 2043 | 2,919,000 | 3,573,951 | ||||
| Medidata Solutions, Inc. cv. sr. unsec. notes 1s, 2018 | 6,673,000 | 7,160,963 | ||||
| 21,752,561 | ||||||
| Homebuilding (0.9%) | ||||||
| Forestar Group, Inc. cv. sr. unsec. unsub. notes 3 3/4s, 2020 | 491,000 | 448,038 | ||||
| Lennar Corp. 144A cv. sr. notes 2 3/4s, 2020 | 1,934,000 | 3,919,976 | ||||
| M/I Homes, Inc. cv. company guaranty sr. sub. notes 3s, 2018 | 3,946,000 | 3,847,350 | ||||
| 8,215,364 | ||||||
| Insurance (1.0%) | ||||||
| Fidelity National Financial, Inc. cv. sr. unsec. unsub. notes 4 1/4s, 2018 | 4,790,000 | 9,184,825 | ||||
| 9,184,825 | ||||||
| Investment banking/Brokerage (2.3%) | ||||||
| Ares Capital Corp. cv. sr. unsec. notes 5 3/4s, 2016 | 8,538,000 | 8,794,140 | ||||
| Cowen Group, Inc. 144A cv. sr. unsec. notes 3s, 2019 | 5,664,000 | 5,660,460 | ||||
| Prospect Capital Corp. cv. sr. unsec. bonds 5 7/8s, 2019 | 7,690,000 | 7,574,650 | ||||
| 22,029,250 | ||||||
| Lodging/Tourism (1.1%) | ||||||
| Host Hotels & Resorts LP 144A cv. company guaranty sr. unsec. notes 2 1/2s, 2029(R) | 5,940,000 | 10,573,200 | ||||
| 10,573,200 | ||||||
| Manufacturing (0.3%) | ||||||
| Trinity Industries, Inc. cv. unsec. sub. notes 3 7/8s, 2036 | 2,580,000 | 3,300,788 | ||||
| 3,300,788 | ||||||
| Media (1.2%) | ||||||
| Liberty Interactive, LLC cv. sr. unsec. unsub. bonds 0 3/4s, 2043 | 2,064,000 | 2,683,200 | ||||
| Liberty Interactive, LLC cv. sr. unsec. unsub. notes 3 1/2s, 2031 | 8,380,000 | 4,493,775 | ||||
| Liberty Interactive, LLC 144A cv. sr. unsec. notes 1s, 2043 | 4,135,000 | 4,672,550 | ||||
| 11,849,525 | ||||||
| Medical technology (2.9%) | ||||||
| Cepheid, Inc. 144A cv. sr. unsec. notes 1 1/4s, 2021 | 3,753,000 | 4,111,881 | ||||
| China Medical Technologies, Inc. cv. sr. unsec. bonds Ser. CMT, 4s, 2016 (China) (In default)(F)(NON) | 3,213,000 | 257,040 | ||||
| China Medical Technologies, Inc. 144A cv. sr. unsec. notes 6 1/4s, 2016 (China) (In default)(F)(NON) | 3,544,000 | 248,080 | ||||
| Hologic, Inc. cv. sr. unsec. unsub. notes stepped-coupon 2s (0s, 3/1/18) 2042(STP) | 5,185,000 | 6,147,466 | ||||
| Quidel Corp. cv. sr. unsec. notes 3 1/4s, 2020 | 4,819,000 | 4,873,214 | ||||
| Spectranetics Corp. (The) cv. sr. unsec. notes 2 5/8s, 2034 | 5,322,000 | 6,612,585 | ||||
| Wright Medical Group, Inc. cv. sr. unsec. unsub. notes 2s, 2017 | 4,535,000 | 5,147,225 | ||||
| 27,397,491 | ||||||
| Metals (0.4%) | ||||||
| AK Steel Corp. cv. company guaranty sr. unsec. unsub. notes 5s, 2019 | 4,120,000 | 4,161,200 | ||||
| 4,161,200 | ||||||
| Oil and gas (1.0%) | ||||||
| Cobalt International Energy, Inc. cv. sr. unsec. unsub. notes 2 5/8s, 2019 | 7,862,000 | 5,257,713 | ||||
| Goodrich Petroleum Corp. cv. company guaranty sr. unsub. notes 5s, 2032 | 2,043,000 | 1,082,790 | ||||
| Vantage Drilling Co. cv. sr. unsec. unsub. notes 7 7/8s, 2042 | 3,601,000 | 3,060,850 | ||||
| 9,401,353 | ||||||
| Pharmaceuticals (4.1%) | ||||||
| Endo Health Solutions, Inc. cv. sr. unsec. sub. notes 1 3/4s, 2015 | 3,048,000 | 8,263,890 | ||||
| Jazz Investments I, Ltd. 144A cv. company guaranty sr. unsec. notes 1 7/8s, 2021 (Ireland) | 11,379,000 | 13,206,752 | ||||
| Mylan, Inc./PA cv. company guaranty sr. unsec. notes 3 3/4s, 2015 | 2,415,000 | 9,613,209 | ||||
| Salix Pharmaceuticals, Ltd. cv. sr. unsec. notes 1 1/2s, 2019 | 3,885,000 | 8,163,356 | ||||
| 39,247,207 | ||||||
| Real estate (6.2%) | ||||||
| Blackstone Mortgage Trust, Inc. cv. sr. unsec. unsub. notes 5 1/4s, 2018(R) | 5,325,000 | 5,584,594 | ||||
| Brookdale Senior Living, Inc. cv. sr. unsec. unsub. notes 2 3/4s, 2018 | 7,172,000 | 9,216,020 | ||||
| Empire State Realty OP LP 144A cv. sr. unsec. notes 2 5/8s, 2019(R) | 6,137,000 | 6,374,809 | ||||
| Forest City Enterprises, Inc. cv. sr. unsec. notes 4 1/4s, 2018 | 10,075,000 | 12,241,125 | ||||
| iStar Financial, Inc. cv. sr. unsec. unsub. notes 3s, 2016(R) | 5,576,000 | 6,757,415 | ||||
| Spirit Realty Capital, Inc. cv. sr. unsec. notes 2 7/8s, 2019(R) | 5,591,000 | 5,702,820 | ||||
| Starwood Property Trust, Inc. cv. sr. unsec. unsub. notes 4s, 2019(R) | 11,760,000 | 13,277,681 | ||||
| 59,154,464 | ||||||
| Semiconductor (2.3%) | ||||||
| Novellus Systems, Inc. cv. sr. unsec. notes 2 5/8s, 2041 | 5,815,000 | 12,840,247 | ||||
| NXP Semiconductors NV 144A cv. sr. unsec. notes 1s, 2019 | 8,149,000 | 8,749,989 | ||||
| 21,590,236 | ||||||
| Shipping (0.7%) | ||||||
| Scorpio Tankers, Inc. 144A cv. sr. unsec. notes 2 3/8s, 2019 | 7,476,000 | 6,807,833 | ||||
| 6,807,833 | ||||||
| Software (0.6%) | ||||||
| Safeguard Scientifics, Inc. cv. sr. unsec. bonds 5 1/4s, 2018 | 4,945,000 | 5,985,923 | ||||
| 5,985,923 | ||||||
| Technology (0.6%) | ||||||
| ON Semiconductor Corp. cv. company guaranty sr. unsec. sub. notes Ser. B, 2 5/8s, 2026 | 4,997,000 | 5,846,490 | ||||
| 5,846,490 | ||||||
| Technology services (3.5%) | ||||||
| AOL, Inc. 144A cv. sr. unsec. unsub. notes 0 3/4s, 2019 | 5,611,000 | 5,842,454 | ||||
| j2 Global, Inc. cv. sr. unsec. notes 3 1/4s, 2029 | 6,905,000 | 7,314,984 | ||||
| Salesforce.com, Inc. cv. sr. unsec. unsub. notes 0 1/4s, 2018 | 6,400,000 | 7,148,000 | ||||
| Twitter, Inc. cv. sr. unsec. unsub. notes 1s, 2021 | 5,245,000 | 4,674,606 | ||||
| Web.com Group, Inc. cv. sr. unsec. unsub. notes 1s, 2018 | 2,671,000 | 2,325,439 | ||||
| Yahoo!, Inc. cv. sr. unsec. bonds zero %, 2018 | 5,295,000 | 5,725,219 | ||||
| 33,030,702 | ||||||
| Telecommunications (0.7%) | ||||||
| Level 3 Communications, Inc. cv. sr. unsec. unsub. notes Ser. B, 7s, 2015 | 3,695,000 | 6,681,022 | ||||
| Powerwave Technologies, Inc. cv. sr. unsec. sub. notes 3 7/8s, 2027 (In default)(F)(NON) | 5,121,000 | 512 | ||||
| 6,681,534 | ||||||
| Tobacco (0.7%) | ||||||
| Vector Group, Ltd. cv. sr. unsec. FRN notes 2 1/2s, 2019 | 4,855,000 | 6,891,066 | ||||
| 6,891,066 | ||||||
| Transportation services (0.6%) | ||||||
| XPO Logistics, Inc. cv. sr. unsec. unsub. notes 4 1/2s, 2017 | 2,320,000 | 5,321,606 | ||||
| 5,321,606 | ||||||
| Total convertible bonds and notes (cost $596,439,669) | $657,749,167 | |||||
| CONVERTIBLE PREFERRED STOCKS (22.6%)(a) | ||||||
| Shares | Value | |||||
| Aerospace and defense (1.1%) | ||||||
| United Technologies Corp. $3.75 cv. pfd. | 177,715 | $10,650,460 | ||||
| 10,650,460 | ||||||
| Automotive (1.2%) | ||||||
| Fiat Chrysler Automobiles NV Ser. FCAU, $7.875 cv. pfd. (United Kingdom)(NON) | 93,968 | 11,024,326 | ||||
| 11,024,326 | ||||||
| Banking (3.2%) | ||||||
| Bank of America Corp. Ser. L, 7.25% cv. pfd. | 12,410 | 14,628,288 | ||||
| Wells Fargo & Co. Ser. L, 7.50% cv. pfd. | 12,790 | 15,899,569 | ||||
| 30,527,857 | ||||||
| Consumer (0.8%) | ||||||
| Stanley Black & Decker, Inc. $6.25 cv. pfd. | 68,260 | 7,732,493 | ||||
| 7,732,493 | ||||||
| Electric utilities (3.1%) | ||||||
| Dominion Resources, Inc./VA $3.188 cv. pfd. | 163,068 | 8,572,485 | ||||
| Exelon Corp. $3.25 cv. pfd. | 162,113 | 8,522,280 | ||||
| NextEra Energy, Inc. cv. pfd. $2.90 | 212,285 | 12,580,009 | ||||
| 29,674,774 | ||||||
| Financial (1.3%) | ||||||
| AMG Capital Trust II $2.575 cv. pfd. | 207,160 | 12,649,708 | ||||
| 12,649,708 | ||||||
| Food (0.8%) | ||||||
| Tyson Foods, Inc. $2.375 cv. pfd. | 151,173 | 7,402,942 | ||||
| 7,402,942 | ||||||
| Forest products and packaging (0.6%) | ||||||
| Weyerhaeuser Co. Ser. A, $3.188 cv. pfd.(R) | 105,184 | 6,074,376 | ||||
| 6,074,376 | ||||||
| Health-care services (0.4%) | ||||||
| AmSurg Corp. Ser. A-1, $5.25 cv. pfd. | 30,928 | 3,529,658 | ||||
| 3,529,658 | ||||||
| Insurance (0.5%) | ||||||
| Maiden Holdings, Ltd. Ser. B, $3.625 cv. pfd. (Bermuda) | 105,197 | 5,002,117 | ||||
| 5,002,117 | ||||||
| Medical technology (0.6%) | ||||||
| Alere, Inc. Ser. B, 3.00% cv. pfd. | 18,445 | 5,985,403 | ||||
| 5,985,403 | ||||||
| Metals (0.6%) | ||||||
| Alcoa, Inc. Ser. 1, $2.688 cv. pfd. | 117,122 | 5,890,065 | ||||
| 5,890,065 | ||||||
| Oil and gas (2.4%) | ||||||
| Chesapeake Energy Corp. 144A 5.75% cv. pfd. | 14,063 | 14,265,156 | ||||
| Halcon Resources Corp. Ser. A, 5.75% cv. pfd. | 3,717 | 1,204,457 | ||||
| Southwestern Energy Co. Ser. B, zero % cv. pfd.(NON) | 130,073 | 7,056,460 | ||||
| 22,526,073 | ||||||
| Power producers (0.7%) | ||||||
| Dynegy, Inc. Ser. A, $5.375 cv. pfd.(NON) | 66,603 | 6,893,411 | ||||
| 6,893,411 | ||||||
| Railroads (0.7%) | ||||||
| Genesee & Wyoming, Inc. $5.00 cv. pfd. | 56,988 | 6,144,446 | ||||
| 6,144,446 | ||||||
| Real estate (1.1%) | ||||||
| Alexandria Real Estate Equities, Inc. Ser. D, $1.75 cv. pfd.(R) | 341,727 | 9,963,461 | ||||
| 9,963,461 | ||||||
| Telecommunications (3.5%) | ||||||
| American Tower Corp. Ser. A, $5.25 cv. pfd.(R) | 88,800 | 9,634,800 | ||||
| Crown Castle International Corp. Ser. A, $4.50 cv. pfd. | 89,977 | 9,791,297 | ||||
| Iridium Communications, Inc. Ser. B, 6.75% cv. pfd. | 5,147 | 1,665,363 | ||||
| Iridium Communications, Inc. 144A $7.00 cv. pfd. | 33,766 | 3,551,761 | ||||
| T-Mobile US, Inc. $2.75 cv. pfd. | 139,901 | 7,978,554 | ||||
| 32,621,775 | ||||||
| Total convertible preferred stocks (cost $202,858,522) | $214,293,345 | |||||
| COMMON STOCKS (2.3%)(a) | ||||||
| Shares | Value | |||||
| Brazil Ethanol, Inc. 144A (Unit)(F)(NON) | 312,500 | $31 | ||||
| Delta Air Lines, Inc. | 31,015 | 1,467,320 | ||||
| DISH Network Corp. Class A(NON) | 33,560 | 2,360,946 | ||||
| Exxon Mobil Corp. | 36,305 | 3,173,783 | ||||
| Jazz Pharmaceuticals PLC(NON) | 13,635 | 2,308,951 | ||||
| Micron Technology, Inc.(NON) | 81,735 | 2,391,975 | ||||
| Priceline Group, Inc. (The)(NON) | 2,125 | 2,145,145 | ||||
| PulteGroup, Inc. | 117,095 | 2,410,986 | ||||
| Salesforce.com, Inc.(NON) | 41,285 | 2,330,538 | ||||
| Spirit Airlines, Inc.(NON) | 13,640 | 1,011,270 | ||||
| Teva Pharmaceutical Industries, Ltd. ADR (Israel) | 40,685 | 2,313,349 | ||||
| Total common stocks (cost $23,564,204) | $21,914,294 | |||||
| WARRANTS (—%)(a)(NON) | ||||||
| Expiration date | Strike Price | Warrants | Value | |||
| Tower Semiconductor, Ltd. 144A (Israel)(F) | 6/30/15 | $1.70 | 1,085,630 | $18 | ||
| Total warrants (cost $217,126) | $18 | |||||
| SHORT-TERM INVESTMENTS (4.0%)(a) | ||||||
| Shares | Value | |||||
| Putnam Short Term Investment Fund 0.10%(AFF) | 38,221,934 | $38,221,934 | ||||
| Total short-term investments (cost $38,221,934) | $38,221,934 | |||||
| TOTAL INVESTMENTS | ||||||
| Total investments (cost $861,301,455)(b) | $932,178,758 | |||||
| Key to holding's currency abbreviations | |||
| EUR | Euro | ||
| USD / $ | United States Dollar | ||
| Key to holding's abbreviations | |||
| ADR | American Depository Receipts: represents ownership of foreign securities on deposit with a custodian bank | ||
| FRN | Floating Rate Notes: the rate shown is the current interest rate at the close of the reporting period | ||
| Notes to the fund's portfolio | ||||||
| Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from November 1, 2014 through January 31, 2015 (the reporting period). Within the following notes to the portfolio, references to “ASC 820” represent Accounting Standards Codification 820 Fair Value Measurements and Disclosures, references to “Putnam Management” represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC and references to “OTC”, if any, represent over-the-counter. | ||||||
| (a) | Percentages indicated are based on net assets of $949,590,867. | |||||
| (b) | The aggregate identified cost on a tax basis is $862,195,730, resulting in gross unrealized appreciation and depreciation of $108,968,101 and $38,985,073, respectively, or net unrealized appreciation of $69,983,028. | |||||
| (NON) | This security is non-income-producing. | |||||
| (STP) | The interest rate and date shown parenthetically represent the new interest rate to be paid and the date the fund will begin accruing interest at this rate. | |||||
| (AFF) | Affiliated company. The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with Putnam Short Term Investment Fund, which is under common ownership and control, were as follows: | |||||
| Name of affiliate | Fair value at the beginning of the reporting period | Purchase cost | Sale proceeds | Investment income | Fair value at the end of the reporting period | |
| Putnam Short Term Investment Fund* | $40,401,678 | $82,454,680 | $84,634,424 | $10,080 | $38,221,934 | |
| * Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management. | ||||||
| (F) | This security is valued at fair value following procedures approved by the Trustees. Securities may be classified as Level 2 or Level 3 for ASC 820 based on the securities' valuation inputs. | |||||
| (R) | Real Estate Investment Trust. | |||||
| At the close of the reporting period, the fund maintained liquid assets totaling $98,322 to cover the settlement of certain securities. | ||||||
| Debt obligations are considered secured unless otherwise indicated. | ||||||
| 144A after the name of an issuer represents securities exempt from registration under Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. | ||||||
| The dates shown on debt obligations are the original maturity dates. | ||||||
| Security valuation: Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and has delegated responsibility for valuing the fund’s assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee. | ||||||
| Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security. | ||||||
| Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares. | ||||||
| Market quotations are not considered to be readily available for certain debt obligations and other investments; such investments are valued on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Management. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2. Short-term securities with remaining maturities of 60 days or less may be valued at amortized cost, which approximates fair value, and are classified as Level 2 securities. | ||||||
| Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. These securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. | ||||||
| To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. | ||||||
| To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount. | ||||||
| ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund’s investments. The three levels are defined as follows: | ||||
| Level 1: Valuations based on quoted prices for identical securities in active markets. | ||||
| Level 2: Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. | ||||
| Level 3: Valuations based on inputs that are unobservable and significant to the fair value measurement. | ||||
| The following is a summary of the inputs used to value the fund’s net assets as of the close of the reporting period: | ||||
| Valuation inputs | ||||
|
| ||||
| Investments in securities: | Level 1 | Level 2 | Level 3 | |
| Common stocks*: | ||||
| Communication services | $2,360,946 | $— | $— | |
| Consumer cyclicals | 4,556,131 | — | — | |
| Energy | 3,173,783 | — | 31 | |
| Health care | 4,622,300 | — | — | |
| Technology | 4,722,513 | — | — | |
| Transportation | 2,478,590 | — | — | |
| Total common stocks | 21,914,263 | — | 31 | |
| Convertible bonds and notes | — | 657,243,535 | 505,632 | |
| Convertible preferred stocks | 15,035,014 | 199,258,331 | — | |
| Warrants | — | 18 | — | |
| Short-term investments | 38,221,934 | — | — | |
|
|
|
|
||
| Totals by level | $75,171,211 | $856,501,884 | $505,663 | |
| * Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation. | ||||
| Transfers from level 1 to level 2 during the reporting period, totaling$12,580,009, are the result of changing to a pricing service as the source for the securities prices. Transfers are accounted for using the end of period pricing valuation method. | ||||
| At the start and close of the reporting period, Level 3 investments in securities represented less than 1% of the fund's net assets and were not considered a significant portion of the fund's portfolio. | ||||
Fair Value of Derivative Instruments as of the close of the reporting period | ||||
| Asset derivatives | Liability derivatives | |||
|
| ||||
| Derivatives not accounted for as hedging instruments under ASC 815 | Fair value | Fair value | ||
| Equity contracts | $18 | $— | ||
|
|
|
|||
| Total | $18 | $— | ||
| The volume of activity for the reporting period for any derivative type that was held at the close of the period is listed below and was as follows based on an average of the holdings of that derivative at the end of each fiscal quarter in the reporting period: | ||||
| Warrants (number of warrants) | 1,100,000 | |||
For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com | ||||
| Item 2. Controls and Procedures: |
| (a) The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms. |
| (b) Changes in internal control over financial reporting: Not applicable |
| Item 3. Exhibits: |
| Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith. |
| SIGNATURES |
| Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
| Putnam Convertible Securities Fund |
| By (Signature and Title): |
| /s/ Janet C. Smith Janet C. Smith Principal Accounting Officer Date: March 31, 2015 |
| Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. |
| By (Signature and Title): |
| /s/ Jonathan S. Horwitz Jonathan S. Horwitz Principal Executive Officer Date: March 31, 2015 |
| By (Signature and Title): |
| /s/ Steven D. Krichmar Steven D. Krichmar Principal Financial Officer Date: March 31, 2015 |
| Certifications | |
| I, Jonathan S. Horwitz, the Principal Executive Officer of the funds listed on Attachment A, certify that: | |
1. I have reviewed each report on Form N-Q of the funds listed on Attachment A: | |
2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report; | |
3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; | |
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have: | |
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared; | |
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |
c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and | |
d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and | |
5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions): | |
a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and | |
b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting. | |
/s/ Jonathan S. Horwitz | |
| _____________________________ | |
Date: March 30, 2015 | |
| Jonathan S. Horwitz | |
| Principal Executive Officer | |
Certifications | |
| I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that: | |
1. I have reviewed each report on Form N-Q of the funds listed on Attachment A: | |
2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report; | |
3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; | |
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have: | |
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared; | |
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |
c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and | |
d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and | |
5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions): | |
a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and | |
b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting. | |
/s/ Steven D. Krichmar | |
| _______________________________ | |
Date: March 30, 2015 | |
| Steven D. Krichmar | |
| Principal Financial Officer | |
Attachment A | |
NQ | |
Period (s) ended January 31, 2015 | |
| Putnam Managed Municipal Income Trust | |
| Putnam Municipal Opportunities Trust | |
| Putnam Multi-Cap Value Fund | |
| The Putnam Fund for Growth and Income | |
| Putnam Capital Opportunities Fund | |
| Putnam Income Fund | |
| Putnam Global Income Trust | |
| Putnam Global Equity Fund | |
| Putnam Convertible Securities Fund | |
| Putnam Absolute Return 100 Fund | |
| Putnam Absolute Return 300 Fund | |
| Putnam Absolute Return 500 Fund | |
| Putnam Absolute Return 700 Fund | |
| Putnam Capital Spectrum Fund | |
| Putnam Equity Spectrum Fund | |
| Putnam Asia Pacific Equity Fund | |
| Putnam Global Sector Fund | |
| Putnam Multi-Cap Core Fund |