<PAGE> PAGE 1
000 B000000 08/30/95
000 C000000 0000225777
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 PUTNAM HIGH YIELD TRUST
001 B000000 811-2796
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 PUTNAM INVESTMENT MANAGEMENT, INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS CORP.
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 COOPERS & LYBRAND
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02109
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 75
019 C000000 PUTNAMFUND
020 A000001 SALOMON BROTHERS
020 B000001 13-3082694
020 C000001 57
020 A000002 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000002 13-2741729
020 C000002 28
020 A000003 LEHMAN BROTHERS
020 B000003 13-2518466
020 C000003 12
020 A000004 WARBURG (S.G.) & CO., INC.
020 B000004 13-3340045
020 C000004 7
020 A000005 PERSHING & CO.
020 C000005 4
020 A000006 DEAN WITTER REYNOLDS INC.
020 B000006 94-1671384
020 C000006 3
020 A000007 BEAR STRRNS & CO.
020 B000007 13-4946705
020 C000007 2
020 A000008 CANTOR, FRITZGERALD & CO., INC.
020 B000008 95-1786286
020 C000008 2
020 C000009 0
020 C000010 0
021 000000 116
022 A000001 GOLDMAN SACHS & CO.
022 B000001 13-5108880
022 C000001 2826256
022 D000001 454544
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 1529101
022 D000002 420
022 A000003 JP MORGAN SECURITIES
022 B000003 13-3224016
022 C000003 1466798
022 D000003 17012
022 A000004 MORGAN STANLEY & CO.
022 B000004 13-2655998
<PAGE> PAGE 3
022 C000004 1324034
022 D000004 293966
022 A000005 BT SECURITIES
022 B000005 13-3311934
022 C000005 439274
022 D000005 44282
022 A000006 MERRILL LYNCH PIERCE FENNER
022 B000006 13-5674085
022 C000006 359291
022 D000006 133996
022 A000007 HONG KONG & SHANGHAI BANK
022 B000007 13-5146790
022 C000007 139191
022 D000007 0
022 A000008 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000008 13-2741729
022 C000008 246648
022 D000008 227338
022 A000009 BEAR STERNS & CO.
022 B000009 13-4946705
022 C000009 187103
022 D000009 191550
022 A000010 PRUDENTIAL SECURITIES INC.
022 B000010 22-2347336
022 C000010 85584
022 D000010 123839
023 C000000 9262772
023 D000000 1718232
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
026 H000000 N
027 000000 Y
028 A010000 80763
028 A020000 14930
028 A030000 0
028 A040000 76148
<PAGE> PAGE 4
028 B010000 92644
028 B020000 15193
028 B030000 0
028 B040000 48710
028 C010000 98799
028 C020000 15638
028 C030000 0
028 C040000 86657
028 D010000 100502
028 D020000 15463
028 D030000 0
028 D040000 80988
028 E010000 106782
028 E020000 15924
028 E030000 0
028 E040000 78994
028 F010000 83398
028 F020000 15162
028 F030000 0
028 F040000 76251
028 G010000 562888
028 G020000 92310
028 G030000 0
028 G040000 447748
028 H000000 562888
029 000000 Y
030 A000000 4209
030 B000000 4.75
030 C000000 0.00
031 A000000 474
031 B000000 0
032 000000 3735
033 000000 0
034 000000 Y
035 000000 762
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 13383
<PAGE> PAGE 5
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.700
048 B010000 100000
048 B020000 0.600
048 C010000 1500000
048 C020000 0.550
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 1500000
048 K020000 0.500
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
<PAGE> PAGE 6
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 1.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 80.7
062 Q000000 7.3
062 R000000 8.3
063 A000000 0
063 B000000 23.4
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 Y
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
<PAGE> PAGE 7
070 J020000 Y
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 2893430
071 B000000 2540172
071 C000000 3109031
071 D000000 82
072 A000000 12
072 B000000 384621
072 C000000 6693
072 D000000 0
072 E000000 0
072 F000000 19181
072 G000000 52
072 H000000 0
072 I000000 4387
072 J000000 -236
072 K000000 617
072 L000000 0
072 M000000 82
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 235
072 S000000 81
072 T000000 13383
072 U000000 0
072 V000000 0
072 W000000 150
072 X000000 37932
072 Y000000 0
072 Z000000 353382
072AA000000 0
072BB000000 134335
072CC010000 140351
072CC020000 0
<PAGE> PAGE 8
072DD010000 293973
072DD020000 59608
072EE000000 11912
073 A010000 1.2140
073 A020000 1.1300
073 B000000 0.0410
073 C000000 0.0380
074 A000000 0
074 B000000 18075
074 C000000 19576
074 D000000 3311419
074 E000000 52910
074 F000000 261172
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 27415
074 K000000 0
074 L000000 86865
074 M000000 0
074 N000000 3777432
074 O000000 2880
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 13174
074 S000000 0
074 T000000 3761378
074 U010000 249635
074 U020000 63732
074 V010000 12.01
074 V020000 11.97
074 W000000 0.0000
074 X000000 180241
074 Y000000 0
075 A000000 0
075 B000000 3485551
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 Y
077 J000000 N
077 K000000 N
<PAGE> PAGE 9
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
080 A000000 FEDERAL INSURANCE COMPANU
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000 50000
081 A000000 Y
081 B000000 69
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE PAUL BUCAVALAS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM Putnam High Yield Trust Class A AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST 3,672,905,571
<INVESTMENTS-AT-VALUE> 3,663,151,977
<RECEIVABLES> 114,279,946
<ASSETS-OTHER> 282
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,777,432,205
<PAYABLE-FOR-SECURITIES> 2,880,092
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13,174,149
<TOTAL-LIABILITIES> 16,054,241
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,443,659,455
<SHARES-COMMON-STOCK> 249,634,566
<SHARES-COMMON-PRIOR> 239,306,549
<ACCUMULATED-NII-CURRENT> 61,831
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (672,568,090)
<ACCUM-APPREC-OR-DEPREC> (9,775,232)
<NET-ASSETS> 3,761,377,964
<DIVIDEND-INCOME> 6,693,564
<INTEREST-INCOME> 384,620,803
<OTHER-INCOME> 0
<EXPENSES-NET> 37,931,776
<NET-INVESTMENT-INCOME> 353,382,591
<REALIZED-GAINS-CURRENT> (134,335,318)
<APPREC-INCREASE-CURRENT> 140,350,852
<NET-CHANGE-FROM-OPS> 359,398,125
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (293,973,082)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (9,903,791)
<NUMBER-OF-SHARES-SOLD> 53,253,731
<NUMBER-OF-SHARES-REDEEMED> (55,532,297)
<SHARES-REINVESTED> 12,624,583
<NET-CHANGE-IN-ASSETS> 340,627,963
<ACCUMULATED-NII-PRIOR> 1,422,557
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (515,703,633)
<GROSS-ADVISORY-FEES> 19,180,576
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 37,931,776
<AVERAGE-NET-ASSETS> 2,861,870,184
<PER-SHARE-NAV-BEGIN> 12.06
<PER-SHARE-NII> 1.22
<PER-SHARE-GAIN-APPREC> (.01)
<PER-SHARE-DIVIDEND> 1.22
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.04)
<PER-SHARE-NAV-END> 12.01
<EXPENSE-RATIO> .95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM Putnam High Yield Trust Class B AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST 3,672,905,571
<INVESTMENTS-AT-VALUE> 3,663,151,977
<RECEIVABLES> 114,279,946
<ASSETS-OTHER> 282
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,777,432,205
<PAYABLE-FOR-SECURITIES> 2,880,092
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13,174,149
<TOTAL-LIABILITIES> 16,054,241
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,443,659,455
<SHARES-COMMON-STOCK> 63,732,152
<SHARES-COMMON-PRIOR> 44,490,198
<ACCUMULATED-NII-CURRENT> 61,831
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (672,568,090)
<ACCUM-APPREC-OR-DEPREC> (9,775,232)
<NET-ASSETS> 3,761,377,964
<DIVIDEND-INCOME> 6,693,564
<INTEREST-INCOME> 384,620,803
<OTHER-INCOME> 0
<EXPENSES-NET> 37,931,776
<NET-INVESTMENT-INCOME> 353,382,591
<REALIZED-GAINS-CURRENT> (134,335,318)
<APPREC-INCREASE-CURRENT> 140,350,852
<NET-CHANGE-FROM-OPS> 359,398,125
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (59,607,996)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (2,808,161)
<NUMBER-OF-SHARES-SOLD> 31,579,432
<NUMBER-OF-SHARES-REDEEMED> (14,818,399)
<SHARES-REINVESTED> 2,480,921
<NET-CHANGE-IN-ASSETS> 340,627,963
<ACCUMULATED-NII-PRIOR> 1,422,557
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (515,703,633)
<GROSS-ADVISORY-FEES> 19,180,576
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 37,931,776
<AVERAGE-NET-ASSETS> 623,623,560
<PER-SHARE-NAV-BEGIN> 12.03
<PER-SHARE-NII> 1.09
<PER-SHARE-GAIN-APPREC> .02
<PER-SHARE-DIVIDEND> (1.13)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.04)
<PER-SHARE-NAV-END> 11.97
<EXPENSE-RATIO> 1.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM Putnam High Yield Trust Class M AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST 3,672,905,571
<INVESTMENTS-AT-VALUE> 3,663,151,977
<RECEIVABLES> 114,279,946
<ASSETS-OTHER> 282
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,772,432,205
<PAYABLE-FOR-SECURITIES> 2,880,092
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13,174,149
<TOTAL-LIABILITIES> 16,054,241
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,443,659,455
<SHARES-COMMON-STOCK> 80,326
<SHARES-COMMON-PRIOR>
<ACCUMULATED-NII-CURRENT> 61,831
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (672,568,090)
<ACCUM-APPREC-OR-DEPREC> (9,775,232)
<NET-ASSETS> 3,761,377,964
<DIVIDEND-INCOME> 6,693,564
<INTEREST-INCOME> 384,620,803
<OTHER-INCOME> 0
<EXPENSES-NET> 37,931,776
<NET-INVESTMENT-INCOME> 353,382,591
<REALIZED-GAINS-CURRENT> (134,335,318)
<APPREC-INCREASE-CURRENT> 140,350,852
<NET-CHANGE-FROM-OPS> 359,398,125
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,823)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (162)
<NUMBER-OF-SHARES-SOLD> 80,086
<NUMBER-OF-SHARES-REDEEMED> (83)
<SHARES-REINVESTED> 323
<NET-CHANGE-IN-ASSETS> 340,627,963
<ACCUMULATED-NII-PRIOR> 1,422,557
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (515,703,633)
<GROSS-ADVISORY-FEES> 19,180,576
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 37,931,776
<AVERAGE-NET-ASSETS> 342,599
<PER-SHARE-NAV-BEGIN> 11.92
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> .07
<PER-SHARE-DIVIDEND> (.19)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.01)
<PER-SHARE-NAV-END> 12.00
<EXPENSE-RATIO> .20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
0
??
</TABLE>
