Advisors Asset Management, Inc. ownership in PCF / High Income Securities Fund

High Income Securities Fund

US ˙ NYSE ˙ US42968F1084

Security	PCF / High Income Securities Fund
Institution	Advisors Asset Management, Inc.
Latest Disclosed Ownership	221,364 shares
Ownership	3.98%

2019-12-10 - Advisors Asset Management, Inc. has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 221,364 shares of High Income Securities Fund (US:PCF). This represents 3.978 percent ownership of the company. In their previous filing dated 2019-08-09 , Advisors Asset Management, Inc. had reported owning 365,369 shares, indicating a decrease of -39.41 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File Date	Effective Date	Form	Prev Shares	Latest Shares	ΔShares (Percent)	Ownership (Percent)	ΔOwnership (Percent)
2019-12-10	2019-12-10	13G/A	365,369	221,364	-39.41	3.98	-39.41
2019-08-09	2019-08-09	13G		365,369		6.57

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-15	2026-03-31	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	119,358	-1,936	-1.60	659	-11.68	0.0109
2026-02-12	2025-12-31	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	121,294	-420	-0.35	746	-3.50	0.0125
2025-11-06	2025-09-30	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	121,714	-878	-0.72	773	-0.77	0.0131
2025-08-12	2025-06-30	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	122,592	5,945	5.10	778	0.39	0.0139
2025-05-15	2025-03-31	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	116,647	116,647		776		0.0146
2020-08-12	2020-06-30	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	0	-72,099	-100.00	0	-100.00
2020-05-15	2020-03-31	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	72,099	-111,041	-60.63	471	-71.30	0.0112
2020-05-20	2019-12-31	13F/A-1	HIGH INCOME SECS FD	SHS BEN INT	42968F108	183,140	-62,800	-25.53	1,641	-21.41	0.0288
2020-02-14	2019-12-31	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	183,140	-62,800		1,641		14,524.4015
2019-11-14	2019-09-30	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	245,940	-126,252	-33.92	2,088	-32.16	0.0385
2019-11-14	2019-06-30	13F/A-1	HIGH INCOME SECURITIES FUND	SHS BEN INT	42968F108	372,192	-100,777	-21.31	3,078	-28.02	0.0555
2019-08-14	2019-06-30	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	372,192			3,078
2019-05-15	2019-03-31	13F	HIGH INCOME SECURITIES FUND	SHS BEN INT	42968F108	472,969	-98,262	-17.20	4,276	-15.89	0.0761
2019-02-06	2018-12-31	13F/A-1	HIGH INCOME SECS FD	SHS BEN INT	42968F108	571,231	-72,725	-11.29	5,084	-16.72	0.1024
2019-01-31	2018-12-31	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	571,231			5,084
2018-11-15	2018-09-30	13F	HIGH INCOME SECS FD	SHS BEN INT	42968F108	643,956	643,956		6,105		0.0998

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.