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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                  SCHEDULE 13G


                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                (AMENDMENT NO. )*


                       Putnam High Income Securities Fund
--------------------------------------------------------------------------------
                                (NAME OF ISSUER)

                                  Common Stock
--------------------------------------------------------------------------------
                         (TITLE OF CLASS OF SECURITIES)


                                    746779107
                                 ==============
                                 (CUSIP NUMBER)

                                December 31, 2009
--------------------------------------------------------------------------------
             (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

|X| Rule 13d-1(b)

| | Rule 13d-1(c)

| | Rule 13d-1(d)

*  The remainder of this cover page shall be filled out for a reporting person's
   initial filing on this form with respect to the subject class of securities,
   and for any subsequent amendment containing information which would alter the
   disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of (S) 18 of the Securities Exchange Act of 1934
("Act") or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP No. 746779107
--------------------------------------------------------------------------------
1. Names of Reporting Persons.

     Claymore Securities Defined Portfolios, Series 254, 279, 336, 378, 434,
     553, 565, 566, 567, 569, 575, 580, 590, 596, 601, 613, 614, 617, 621, 635
     and 648
--------------------------------------------------------------------------------

                                       1


--------------------------------------------------------------------------------
I.R.S. Identification Nos. of above persons (entities only):

     Claymore Securities Defined Portfolios, Series 254 -- Tax ID# 137480378
     Claymore Securities Defined Portfolios, Series 279 -- Tax ID# 204863275
     Claymore Securities Defined Portfolios, Series 336 -- Tax ID# 205639712
     Claymore Securities Defined Portfolios, Series 378 -- Tax ID# 137554781
     Claymore Securities Defined Portfolios, Series 434 -- Tax ID# 137573683
     Claymore Securities Defined Portfolios, Series 553 -- Tax ID# 546806610
     Claymore Securities Defined Portfolios, Series 565 -- Tax ID# 266791178
     Claymore Securities Defined Portfolios, Series 566 -- Tax ID# 306187472
     Claymore Securities Defined Portfolios, Series 567 -- Tax ID# 306187563
     Claymore Securities Defined Portfolios, Series 569 -- Tax ID# 616370057
     Claymore Securities Defined Portfolios, Series 575 -- Tax ID# 306187520
     Claymore Securities Defined Portfolios, Series 580 -- Tax ID# 306187564
     Claymore Securities Defined Portfolios, Series 590 -- Tax ID# 276036957
     Claymore Securities Defined Portfolios, Series 596 -- Tax ID# 276089544
     Claymore Securities Defined Portfolios, Series 596 -- Tax ID# 276089514
     Claymore Securities Defined Portfolios, Series 601 -- Tax ID# 276123859
     Claymore Securities Defined Portfolios, Series 613 -- Tax ID# 276181361
     Claymore Securities Defined Portfolios, Series 614 -- Tax ID# 276183053
     Claymore Securities Defined Portfolios, Series 617 -- Tax ID# 276166407
     Claymore Securities Defined Portfolios, Series 621 -- Tax ID# 276226783
     Claymore Securities Defined Portfolios, Series 635 -- Tax ID# 276298021
     Claymore Securities Defined Portfolios, Series 648 -- Tax ID# 276331884

--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
     (a) ___
     (b) ___
--------------------------------------------------------------------------------
3. SEC Use Only

--------------------------------------------------------------------------------
4. Citizenship or Place of Organization:

     Claymore Securities Defined Portfolios, Series 254, Lisle, IL
     Claymore Securities Defined Portfolios, Series 279, Lisle, IL
     Claymore Securities Defined Portfolios, Series 336, Lisle, IL
     Claymore Securities Defined Portfolios, Series 378, Lisle, IL
     Claymore Securities Defined Portfolios, Series 434, Lisle, IL
     Claymore Securities Defined Portfolios, Series 553, Lisle, IL
     Claymore Securities Defined Portfolios, Series 565, Lisle, IL
     Claymore Securities Defined Portfolios, Series 566, Lisle, IL
     Claymore Securities Defined Portfolios, Series 567, Lisle, IL
     Claymore Securities Defined Portfolios, Series 569, Lisle, IL
     Claymore Securities Defined Portfolios, Series 575, Lisle, IL
     Claymore Securities Defined Portfolios, Series 580, Lisle, IL
     Claymore Securities Defined Portfolios, Series 590, Lisle, IL
     Claymore Securities Defined Portfolios, Series 596, Lisle, IL
     Claymore Securities Defined Portfolios, Series 601, Lisle, IL
     Claymore Securities Defined Portfolios, Series 613, Lisle, IL
     Claymore Securities Defined Portfolios, Series 614, Lisle, IL
     Claymore Securities Defined Portfolios, Series 617, Lisle, IL
     Claymore Securities Defined Portfolios, Series 621, Lisle, IL
     Claymore Securities Defined Portfolios, Series 635, Lisle, IL
     Claymore Securities Defined Portfolios, Series 648, Lisle, IL

--------------------------------------------------------------------------------

                                       2


   Number of     5.    Sole Voting Power
    Shares                     1,037,722
Beneficially by-----------------------------------------------------------------
   Owned by      6.    Shared Voting Power
     Each      -----------------------------------------------------------------
   Reporting     7.    Sole Dispositive Power
    Person                     1,037,722
     With:     -----------------------------------------------------------------
                 8.    Shared Dispositive Power
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person

                 1,037,722
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)

                 5.94%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)

                 IV
--------------------------------------------------------------------------------

ITEM 1.        (a) Name of Issuer

                    Putnam Investment Management Inc

               (b) Address of Issuer's Principal Executive Offices

                    One Post Office Square
                    Boston, MA 02109

ITEM 2.        (a) Name of Person Filing

                    Claymore Securities, Inc. as Sponsor for the Filing Entities

               (b) Address of Principal Business Office or, if none, Residence

                    2455 Corporate West Drive
                    Lisle, IL 60532

               (c) Citizenship

                    USA

               (d) Title of Class of Securities

                    Common Stock

               (e) CUSIP Number

                    746779107

ITEM 3.        IF THIS STATEMENT IS FILED PURSUANT TO (S) (S) 240.13D-1 (B) OR
               240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

                    (a) |X| Broker or dealer registered under section 15 of the
                    Act (15 U.S.C, 78o).

                    (b) | | Bank as defined in section 3(a)(6) of the Act (15
                    U.S.C. 78c).

                    (c) | | Insurance company as defined in section 3(a)(19) of
                    the Act (15 U.S.C. 78c).

                    (d) | | Investment company registered under section 8 of the
                    Investment Company Act of 1940 (15 U.S.C 80a-8).

                    (e) | | An investment adviser in accordance with
                    SECTION240.13d-l(b)(l}(ii)(E);

                    (f) | | An employee benefit plan or endowment fund in
                    accordance with SECTION240.13d-l(b)(l}(ii)(F);

                                       3


                    (g) | | A parent holding company or control person in
                    accordance with SECTION240.13d-l(b)(l)(ii)(G);

                    (h) | | A savings associations as defined in Section 3(b) of
                    the Federal Deposit Insurance Act (12 U.S.C. 1813);

                    (i) | | A church plan that is excluded from the definition
                    of an investment company under section 3(c)(14) of the
                    Investment Company Act of 1940 (15 U.S.C. 80a-3);

                    (j) | | A church plan that is excluded from the definition
                    of an investment company under section 3(c)(14) of the
                    Investment Company Act of 1940 (15 U.S.C. 80a-3);

                    (j) | | Group, in accordance with
                    SECTION240.13d-l(b)(l)(ii)(J).

ITEM 4. OWNERSHIP.

      Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

                    (a) Amount beneficially owned: 1,037,722

                    (b) Percent of class: 5.94%

                    (c) Number of shares as to which the person has:

                         (i) Sole power to vote or to direct the vote 1,037,722

                         (ii) Shared power to vote or to direct the vote ____.

                         (iii) Sole power to dispose or to direct the
                         disposition of 1,037,722

                         (iv) Shared power to dispose or to direct the
                          disposition of ____.

      Instruction. For computations regarding securities which represent a right
      to acquire an underlying security see Section N240.13d-3(d)(l).

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

      If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following | |.

Instruction: Dissolution of a group requires a response to this item.

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

      If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

      If a parent holding company has filed this schedule, pursuant to Rule
13d-l(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the
identity and the Item 3 classification of the relevant subsidiary. If a parent
holding company has filed this schedule pursuant to Rule 13d-l(c) or Rule
13d-l(d), attach an exhibit stating the identification of the relevant
subsidiary.

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

      If a group has filed this schedule pursuant to
SECTION240.13d-l(b)(l)(ii)(J), so indicate under Item 3(j) and attach an exhibit
stating the identity and Item 3 classification of each member of the group. If a
group has filed this schedule pursuant to SECTION240.13d-l(c) or
SECTION240.13d-I(d), attach an exhibit stating the identity of each member of
the group.

                                       4


ITEM 9. NOTICE OF DISSOLUTION OF GROUP

      Notice of dissolution of a group may be furnished as an exhibit stating
the date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.

ITEM 10. CERTIFICATION

     (a) The following certification shall be included if the statement is filed
     pursuant to SECTION240.13d-1 (b):

                    By signing below I certify that, to the best of my knowledge
                    and belief, the securities referred to above were acquired
                    and are held in the ordinary course of business and were not
                    acquired and are not held for the purpose of or with the
                    effect of changing or influencing the control of the issuer
                    of the securities and were not acquired and are not held in
                    connection with or as a participant in any transaction
                    having that purpose or effect.

     (b) The following certification shall be included if the statement is filed
     pursuant to SECTIONS240.13d-l

                    (c): By signing below I certify that, to the best of my
                    knowledge and belief, the securities referred to above were
                    not acquired and are not held for the purpose of or with the
                    effect of changing or influencing the control of the issuer
                    of the securities and were not acquired and are not held in
                    connection with or as a participant in any transaction
                    having that purpose or effect.

                                    SIGNATURE

      After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete, and
correct.


                                              January 25, 2010
                             ==================================================
                                                    Date

                                            /s/ Kevin M. Robinson
                             ==================================================
                                                  Signature

                                Kevin M. Robinson, Senior Managing Director,
                                   General Counsel and Corporate Secretary
                                          Claymore Securities, Inc.
                             --------------------------------------------------
                                                 Name/Title

      The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.

NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See SECTIONS240.13d-7 for other
parties for whom copies are to be sent.

ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)




                                       5