<PAGE> PAGE 1
000 A000000 08/31/97
000 C000000 0000225777
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
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001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
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012 B000001 84-401299
012 C010001 BOSTON
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012 C030001 02109
013 A000001 COOPERS & LYBRAND L.L.P.
013 B010001 BOSTON
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<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
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020 A000001 EDWARDS (A.G.) & SONS
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020 C000001 53
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020 B000003 13-3082694
020 C000003 12
020 A000004 BEAR STERNS & CO.
020 B000004 13-4946705
020 C000004 6
020 A000005 INGALLS & SYNDER
020 C000005 6
020 A000006 MERRILL LYNCH PIERCE FENNER
020 B000006 13-5674085
020 C000006 4
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020 C000009 0
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022 C000001 6435306
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022 C000002 562449
022 D000002 608107
022 A000003 GOLDMAN SACHES
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022 C000003 899368
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<PAGE> PAGE 3
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022 B000006 13-4946705
022 C000006 235496
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022 A000007 MORGAN (J.P.) SECURITIES
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022 C000007 362423
022 D000007 97447
022 A000008 BANKERS TRUST CO.
022 B000008 13-4941247
022 C000008 244244
022 D000008 173630
022 A000009 CHASE MANHATTAN BANK
022 C000009 244993
022 D000009 139263
022 A000010 UBS SECURITIES
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022 C000010 242751
022 D000010 121479
023 C000000 11155923
023 D000000 2890952
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 L010000 Y
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<PAGE> PAGE 8
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085 B000000 N
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SIGNATURE PAUL BUCAVALAS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam High Yield Trust
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> PUTNAM HIGH YIELD TRUST
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<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> $4,397,605,606
<INVESTMENTS-AT-VALUE> $4,456,697,184
<RECEIVABLES> 159,136,746
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,615,833,930
<PAYABLE-FOR-SECURITIES> 89,838,006
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,293,781
<TOTAL-LIABILITIES> 105,131,787
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,866,817,298
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<SHARES-COMMON-PRIOR> 257,308,311
<ACCUMULATED-NII-CURRENT> 18,811,892
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<NET-ASSETS> 4,510,702,143
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<OTHER-INCOME> 0
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<REALIZED-GAINS-CURRENT> 104,981,756
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam High Yield Trust
</LEGEND>
<SERIES>
<NUMBER> 3
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
Putnam High Yield Trust
</LEGEND>
<SERIES>
<NUMBER> 3
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</TABLE>
