NPORT-EX 2 PI72650PRU043024.htm
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Long-Term Investments 122.1%
Asset-Backed Securities 7.3%
Collateralized Loan Obligations 
Atlas Static Senior Loan Fund Ltd. (Cayman Islands),
Series 2022-01A, Class AR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) 		7.079 %(c) 07/15/30   3,431  $3,449,819
Battalion CLO Ltd. (Cayman Islands),
Series 2015-08A, Class A1R2, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) 		6.659(c) 07/18/30   1,334 1,334,122
BlueMountain CLO Ltd. (Cayman Islands),
Series 2016-02A, Class A1R2, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%) 		6.701(c) 08/20/32   3,000 2,999,765
Carlyle Global Market Strategies CLO Ltd. (Cayman Islands),
Series 2014-01A, Class A1R2, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) 		6.549(c) 04/17/31   2,109 2,109,258
CIFC Funding Ltd. (Cayman Islands),
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.302% (Cap N/A, Floor 0.000%) 		6.626(c) 04/20/31   2,399 2,399,083
Jamestown CLO Ltd. (Cayman Islands),
Series 2019-01A, Class A1R, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) 		6.525(c) 04/20/32   4,750 4,751,532
KKR CLO Ltd. (Cayman Islands),
Series 11, Class AR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%) 		6.770(c) 01/15/31   1,414 1,415,134
Madison Park Funding Ltd. (Cayman Islands),
Series 2015-18A, Class ARR, 144A, 3 Month SOFR + 1.202% (Cap N/A, Floor 0.940%) 		6.526(c) 10/21/30   2,396 2,397,205
OFSI BSL Ltd. (Cayman Islands),
Series 2023-12A, Class A1, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%) 		7.725(c) 01/20/35   2,250 2,257,679
Shackleton CLO Ltd. (Cayman Islands),
Series 2017-11A, Class AR, 144A, 3 Month SOFR + 1.352% (Cap N/A, Floor 0.262%) 		6.659(c) 08/15/30   1,326 1,325,267
TICP CLO Ltd. (Cayman Islands),
Series 2017-07A, Class ASR2, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) 		6.629(c) 04/15/33   4,750 4,753,440
Voya CLO Ltd. (Cayman Islands),          
Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) 6.555(c) 04/25/31   867 868,511
1
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Asset-Backed Securities (Continued)
Collateralized Loan Obligations (cont’d.)
Voya CLO Ltd. (Cayman Islands), (cont’d.)          
Series 2015-03A, Class A1R, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 1.452%) 6.776 %(c) 10/20/31   3,159  $3,167,420
     
 
Total Asset-Backed Securities
(cost $32,923,605) 		33,228,235
Corporate Bonds 106.5%
Advertising 0.2%
CMG Media Corp.,
Gtd. Notes, 144A(aa) 		8.875 12/15/27   1,640 911,458
Aerospace & Defense 2.8%
Boeing Co. (The),          
Sr. Unsec’d. Notes(aa) 5.805 05/01/50   1,285 1,138,185
Sr. Unsec’d. Notes 5.930 05/01/60   500 437,045
Bombardier, Inc. (Canada),          
Sr. Unsec’d. Notes, 144A 6.000 02/15/28   1,500 1,456,875
Sr. Unsec’d. Notes, 144A 7.125 06/15/26   679 684,310
Sr. Unsec’d. Notes, 144A 7.250 07/01/31   455 456,106
Sr. Unsec’d. Notes, 144A 7.500 02/01/29   1,000 1,022,500
Sr. Unsec’d. Notes, 144A(aa) 7.875 04/15/27   2,187 2,170,619
Sr. Unsec’d. Notes, 144A 8.750 11/15/30   940 999,925
TransDigm, Inc.,          
Gtd. Notes 4.625 01/15/29   600 549,746
Gtd. Notes(aa) 5.500 11/15/27   1,825 1,772,850
Sr. Sec’d. Notes, 144A 6.375 03/01/29   1,080 1,073,202
Sr. Sec’d. Notes, 144A 6.625 03/01/32   835 834,377
          12,595,740
Agriculture 0.3%
Vector Group Ltd.,
Sr. Sec’d. Notes, 144A 		5.750 02/01/29   1,350 1,227,628
Airlines 1.4%
American Airlines, Inc.,
Sr. Sec’d. Notes, 144A 		7.250 02/15/28   350 351,437
2
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Airlines (cont’d.)
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,          
Sr. Sec’d. Notes, 144A(aa) 5.500 % 04/20/26   767  $755,167
Sr. Sec’d. Notes, 144A(aa) 5.750 04/20/29   1,425 1,371,562
United Airlines, Inc.,          
Sr. Sec’d. Notes, 144A 4.375 04/15/26   1,080 1,039,382
Sr. Sec’d. Notes, 144A 4.625 04/15/29   830 765,409
VistaJet Malta Finance PLC/Vista Management Holding,
Inc. (Switzerland), 		         
Sr. Unsec’d. Notes, 144A 6.375 02/01/30   750 579,375
Sr. Unsec’d. Notes, 144A 7.875 05/01/27   905 800,020
Sr. Unsec’d. Notes, 144A 9.500 06/01/28   520 465,155
          6,127,507
Apparel 0.4%
Kontoor Brands, Inc.,
Gtd. Notes, 144A 		4.125 11/15/29   375 335,333
Wolverine World Wide, Inc.,
Gtd. Notes, 144A(aa) 		4.000 08/15/29   1,825 1,458,181
          1,793,514
Auto Manufacturers 0.9%
Ford Motor Co.,          
Sr. Unsec’d. Notes 3.250 02/12/32   538 433,627
Sr. Unsec’d. Notes 4.750 01/15/43   225 177,481
Sr. Unsec’d. Notes 7.400 11/01/46   100 105,687
     
 
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes 		3.375 11/13/25   725 696,175
Jaguar Land Rover Automotive PLC (United Kingdom),
Gtd. Notes, 144A 		7.750 10/15/25   800 804,000
JB Poindexter & Co., Inc.,
Sr. Unsec’d. Notes, 144A 		8.750 12/15/31   525 536,254
PM General Purchaser LLC,
Sr. Sec’d. Notes, 144A 		9.500 10/01/28   1,350 1,367,892
          4,121,116
3
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Auto Parts & Equipment 1.5%
Adient Global Holdings Ltd.,          
Gtd. Notes, 144A 4.875 % 08/15/26   1,611  $1,552,102
Sr. Sec’d. Notes, 144A 7.000 04/15/28   400 404,488
American Axle & Manufacturing, Inc.,          
Gtd. Notes 6.250 03/15/26   195 193,296
Gtd. Notes 6.500 04/01/27   256 252,728
     
 
Clarios Global LP/Clarios US Finance Co.,
Gtd. Notes, 144A 		8.500 05/15/27   375 375,562
Dana Financing Luxembourg Sarl,
Gtd. Notes, 144A 		5.750 04/15/25   250 247,865
Dana, Inc.,          
Sr. Unsec’d. Notes 4.250 09/01/30   250 216,676
Sr. Unsec’d. Notes 4.500 02/15/32   225 190,642
Sr. Unsec’d. Notes 5.375 11/15/27   200 193,376
Sr. Unsec’d. Notes 5.625 06/15/28   600 578,510
     
 
Phinia, Inc.,
Sr. Sec’d. Notes, 144A 		6.750 04/15/29   215 215,786
Tenneco, Inc.,
Sr. Sec’d. Notes, 144A 		8.000 11/17/28   1,675 1,569,002
Titan International, Inc.,
Sr. Sec’d. Notes 		7.000 04/30/28   925 894,159
          6,884,192
Banks 1.0%
Citigroup, Inc.,
Jr. Sub. Notes, Series X 		3.875(ff) 02/18/26(oo)   825 774,091
Freedom Mortgage Corp.,          
Sr. Unsec’d. Notes, 144A 6.625 01/15/27   900 866,184
Sr. Unsec’d. Notes, 144A 7.625 05/01/26   550 547,722
Sr. Unsec’d. Notes, 144A 12.000 10/01/28   75 80,489
Sr. Unsec’d. Notes, 144A 12.250 10/01/30   325 352,795
     
 
Intesa Sanpaolo SpA (Italy),
Sub. Notes, 144A 		4.198(ff) 06/01/32   2,200 1,798,136
          4,419,417
Building Materials 2.2%
Camelot Return Merger Sub, Inc.,
Sr. Sec’d. Notes, 144A 		8.750 08/01/28   650 639,767
4
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Building Materials (cont’d.)
Cornerstone Building Brands, Inc.,
Gtd. Notes, 144A(aa) 		6.125 % 01/15/29   1,000  $846,051
Eco Material Technologies, Inc.,
Sr. Sec’d. Notes, 144A 		7.875 01/31/27   820 826,050
Griffon Corp.,
Gtd. Notes 		5.750 03/01/28   430 414,060
JELD-WEN, Inc.,
Gtd. Notes, 144A 		4.625 12/15/25   462 450,687
Knife River Corp.,
Sr. Unsec’d. Notes, 144A 		7.750 05/01/31   300 311,936
Masonite International Corp.,          
Gtd. Notes, 144A 3.500 02/15/30   675 591,469
Gtd. Notes, 144A 5.375 02/01/28   105 105,000
     
 
Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC,
Sr. Sec’d. Notes, 144A 		6.750 04/01/32   470 466,607
MIWD Holdco II LLC/MIWD Finance Corp.,
Gtd. Notes, 144A 		5.500 02/01/30   682 617,116
Smyrna Ready Mix Concrete LLC,          
Sr. Sec’d. Notes, 144A 6.000 11/01/28   1,123 1,086,707
Sr. Sec’d. Notes, 144A 8.875 11/15/31   555 584,304
Standard Industries, Inc.,          
Sr. Unsec’d. Notes, 144A 3.375 01/15/31   350 288,193
Sr. Unsec’d. Notes, 144A(aa) 4.375 07/15/30   1,250 1,107,559
Sr. Unsec’d. Notes, 144A 4.750 01/15/28   1,400 1,318,476
Sr. Unsec’d. Notes, 144A 5.000 02/15/27   320 308,078
     
 
Summit Materials LLC/Summit Materials Finance Corp.,
Gtd. Notes, 144A 		7.250 01/15/31   195 200,297
          10,162,357
Chemicals 2.3%
Ashland, Inc.,
Sr. Unsec’d. Notes(aa) 		6.875 05/15/43   2,125 2,143,296
ASP Unifrax Holdings, Inc.,          
Sr. Sec’d. Notes, 144A 5.250 09/30/28   325 206,279
Sr. Unsec’d. Notes, 144A 7.500 09/30/29   225 115,146
     
 
Avient Corp.,
Sr. Unsec’d. Notes, 144A 		5.750 05/15/25   870 865,774
5
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Chemicals (cont’d.)
Chemours Co. (The),          
Gtd. Notes, 144A 4.625 % 11/15/29   625  $535,850
Gtd. Notes, 144A 5.750 11/15/28   170 156,130
     
 
Cornerstone Chemical Co. LLC,
Sr. Sec’d. Notes, 144A, Cash coupon 5.000% and PIK 10.000% (original cost $694,360; purchased 12/06/23)^(f) 		15.000 12/06/28   772 771,511
NOVA Chemicals Corp. (Canada),
Sr. Unsec’d. Notes, 144A 		4.875 06/01/24   1,315 1,306,781
Olympus Water US Holding Corp.,          
Sr. Sec’d. Notes, 144A 4.250 10/01/28   625 563,108
Sr. Sec’d. Notes, 144A 9.750 11/15/28   925 982,355
     
 
Rain CII Carbon LLC/CII Carbon Corp.,
Sec’d. Notes, 144A 		7.250 04/01/25   35 34,229
SK Invictus Intermediate II Sarl,
Sr. Sec’d. Notes, 144A 		5.000 10/30/29   795 692,962
SNF Group SACA (France),
Sr. Unsec’d. Notes, 144A 		3.375 03/15/30   450 383,148
TPC Group, Inc.,
Sr. Sec’d. Notes, 144A 		13.000 12/16/27   865 879,892
Tronox, Inc.,
Gtd. Notes, 144A 		4.625 03/15/29   515 459,965
WR Grace Holdings LLC,
Sr. Sec’d. Notes, 144A 		7.375 03/01/31   175 177,426
          10,273,852
Coal 0.2%
Conuma Resources Ltd. (Canada),
Sr. Sec’d. Notes, 144A (original cost $665,420; purchased 04/13/23)(f) 		13.125 05/01/28   686 691,145
Coronado Finance Pty Ltd. (Australia),
Sr. Sec’d. Notes, 144A 		10.750 05/15/26   400 413,520
          1,104,665
Commercial Services 7.0%
Adtalem Global Education, Inc.,
Sr. Sec’d. Notes, 144A 		5.500 03/01/28   559 531,769
6
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Commercial Services (cont’d.)
Allied Universal Holdco LLC/Allied Universal Finance
Corp., 		         
Sr. Sec’d. Notes, 144A 6.625 % 07/15/26   177  $176,651
Sr. Unsec’d. Notes, 144A(aa) 6.000 06/01/29   1,350 1,148,845
Sr. Unsec’d. Notes, 144A(aa) 9.750 07/15/27   3,875 3,860,522
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 Sarl, 		         
Sr. Sec’d. Notes, 144A 4.625 06/01/28   860 772,684
Sr. Sec’d. Notes, 144A 4.625 06/01/28   1,315 1,175,281
     
 
Alta Equipment Group, Inc.,
Sec’d. Notes, 144A 		5.625 04/15/26   475 459,235
AMN Healthcare, Inc.,          
Gtd. Notes, 144A 4.000 04/15/29   1,025 907,201
Gtd. Notes, 144A 4.625 10/01/27   400 375,850
     
 
APi Group DE, Inc.,
Gtd. Notes, 144A 		4.750 10/15/29   325 295,621
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.,
Gtd. Notes, 144A(aa) 		4.750 04/01/28   1,295 1,145,715
Boost Newco Borrower LLC,
Sr. Sec’d. Notes, 144A 		7.500 01/15/31   450 464,124
Brink’s Co. (The),          
Gtd. Notes, 144A 4.625 10/15/27   375 351,762
Gtd. Notes, 144A(aa) 5.500 07/15/25   200 198,852
     
 
Carriage Services, Inc.,
Gtd. Notes, 144A 		4.250 05/15/29   200 176,145
Gartner, Inc.,          
Gtd. Notes, 144A 3.625 06/15/29   425 381,040
Gtd. Notes, 144A 3.750 10/01/30   325 282,952
     
 
Herc Holdings, Inc.,
Gtd. Notes, 144A 		5.500 07/15/27   441 428,351
Hertz Corp. (The),          
Gtd. Notes, 144A 4.625 12/01/26   475 368,139
Gtd. Notes, 144A 5.000 12/01/29   525 362,295
     
 
Mavis Tire Express Services Topco Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		6.500 05/15/29   2,700 2,502,481
MPH Acquisition Holdings LLC,
Sr. Sec’d. Notes, 144A(aa) 		5.500 09/01/28   2,075 1,692,151
NESCO Holdings II, Inc.,
Sec’d. Notes, 144A 		5.500 04/15/29   875 816,348
7
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Commercial Services (cont’d.)
     
Service Corp. International,
Sr. Unsec’d. Notes 		3.375 % 08/15/30   1,457  $1,236,921
United Rentals North America, Inc.,          
Gtd. Notes 3.750 01/15/32   575 491,221
Gtd. Notes 4.000 07/15/30   150 133,492
Gtd. Notes(aa) 4.875 01/15/28   5,720 5,482,137
     
 
Valvoline, Inc.,
Sr. Unsec’d. Notes, 144A 		3.625 06/15/31   400 337,326
Verscend Escrow Corp.,
Sr. Unsec’d. Notes, 144A 		9.750 08/15/26   4,825 4,825,000
VT Topco, Inc.,
Sr. Sec’d. Notes, 144A 		8.500 08/15/30   350 362,327
          31,742,438
Computers 0.9%
CA Magnum Holdings (India),
Sr. Sec’d. Notes, 144A 		5.375 10/31/26   225 212,850
McAfee Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		7.375 02/15/30   1,430 1,326,168
NCR Voyix Corp.,          
Gtd. Notes, 144A 5.000 10/01/28   800 736,256
Gtd. Notes, 144A 5.125 04/15/29   425 390,570
Gtd. Notes, 144A 5.250 10/01/30   350 311,648
     
 
Tempo Acquisition LLC/Tempo Acquisition Finance Corp.,
Sr. Sec’d. Notes, 144A 		5.750 06/01/25   875 871,113
          3,848,605
Distribution/Wholesale 0.8%
H&E Equipment Services, Inc.,
Gtd. Notes, 144A(aa) 		3.875 12/15/28   2,250 1,991,150
Ritchie Bros Holdings, Inc. (Canada),          
Gtd. Notes, 144A 7.750 03/15/31   450 465,249
Sr. Sec’d. Notes, 144A 6.750 03/15/28   150 151,092
     
 
Windsor Holdings III LLC,
Sr. Sec’d. Notes, 144A 		8.500 06/15/30   750 782,718
          3,390,209
8
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Diversified Financial Services 4.8%
Bread Financial Holdings, Inc.,
Gtd. Notes, 144A 		9.750 % 03/15/29   1,140  $1,185,771
Encore Capital Group, Inc.,
Sr. Sec’d. Notes, 144A 		9.250 04/01/29   215 219,833
Freedom Mortgage Holdings LLC,
Sr. Unsec’d. Notes, 144A 		9.250 02/01/29   110 110,727
GGAM Finance Ltd. (Ireland),          
Gtd. Notes, 144A 8.000 02/15/27   425 436,420
Sr. Unsec’d. Notes, 144A 6.875 04/15/29   130 129,878
goeasy Ltd. (Canada),          
Gtd. Notes, 144A 4.375 05/01/26   525 502,687
Gtd. Notes, 144A 9.250 12/01/28   180 190,350
Sr. Unsec’d. Notes, 144A 7.625 07/01/29   125 124,475
     
 
Jefferies Finance LLC/JFIN Co-Issuer Corp.,
Sr. Unsec’d. Notes, 144A 		5.000 08/15/28   1,525 1,372,170
LD Holdings Group LLC,
Gtd. Notes, 144A 		6.125 04/01/28   900 681,777
LFS Topco LLC,
Gtd. Notes, 144A 		5.875 10/15/26   875 810,600
Macquarie Airfinance Holdings Ltd. (United Kingdom),          
Sr. Unsec’d. Notes, 144A 6.400 03/26/29   150 149,625
Sr. Unsec’d. Notes, 144A 6.500 03/26/31   305 304,238
Sr. Unsec’d. Notes, 144A 8.125 03/30/29   800 836,000
Sr. Unsec’d. Notes, 144A 8.375 05/01/28   75 78,750
Nationstar Mortgage Holdings, Inc.,          
Gtd. Notes, 144A 5.125 12/15/30   1,075 965,062
Gtd. Notes, 144A(aa) 5.500 08/15/28   2,420 2,276,086
Gtd. Notes, 144A 5.750 11/15/31   360 327,948
Gtd. Notes, 144A(aa) 6.000 01/15/27   1,725 1,691,059
Navient Corp.,          
Sr. Unsec’d. Notes(aa) 5.500 03/15/29   1,800 1,613,264
Sr. Unsec’d. Notes 9.375 07/25/30   525 540,831
OneMain Finance Corp.,          
Gtd. Notes 6.875 03/15/25   125 125,739
Gtd. Notes(aa) 7.125 03/15/26   3,748 3,782,764
Gtd. Notes 7.875 03/15/30   215 219,420
PennyMac Financial Services, Inc.,          
Gtd. Notes, 144A 4.250 02/15/29   575 510,700
Gtd. Notes, 144A 5.375 10/15/25   800 790,334
Gtd. Notes, 144A 5.750 09/15/31   275 249,801
9
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Diversified Financial Services (cont’d.)
PennyMac Financial Services, Inc., (cont’d.)          
Gtd. Notes, 144A 7.875 % 12/15/29   225  $229,663
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.,          
Gtd. Notes, 144A 3.625 03/01/29   200 176,285
Gtd. Notes, 144A 3.875 03/01/31   375 319,123
Gtd. Notes, 144A 4.000 10/15/33   1,175 959,177
          21,910,557
Electric 5.2%
Calpine Corp.,          
Sr. Sec’d. Notes, 144A 3.750 03/01/31   50 43,308
Sr. Sec’d. Notes, 144A 4.500 02/15/28   375 350,313
Sr. Unsec’d. Notes, 144A(aa) 4.625 02/01/29   2,025 1,860,143
Sr. Unsec’d. Notes, 144A 5.000 02/01/31   875 795,116
Sr. Unsec’d. Notes, 144A(aa) 5.125 03/15/28   5,524 5,235,240
     
 
Keystone Power Pass-Through Holders LLC/Conemaugh Power Pass-Through Holders,
Sub. Notes, 144A, Cash coupon 13.000% 		13.000 06/01/24   267 146,946
NRG Energy, Inc.,          
Gtd. Notes(aa) 5.750 01/15/28   2,975 2,925,422
Gtd. Notes, 144A 3.375 02/15/29   150 131,710
Gtd. Notes, 144A 3.625 02/15/31   325 275,411
Gtd. Notes, 144A 3.875 02/15/32   625 526,754
Gtd. Notes, 144A 5.250 06/15/29   650 615,419
Jr. Sub. Notes, 144A 10.250(ff) 03/15/28(oo)   1,050 1,129,955
     
 
PG&E Corp.,
Sr. Sec’d. Notes 		5.250 07/01/30   510 477,826
Vistra Corp.,          
Jr. Sub. Notes, 144A 7.000(ff) 12/15/26(oo)   900 883,293
Jr. Sub. Notes, 144A 8.000(ff) 10/15/26(oo)   375 378,831
Vistra Operations Co. LLC,          
Gtd. Notes, 144A 4.375 05/01/29   1,075 979,987
Gtd. Notes, 144A 5.000 07/31/27   375 356,882
Gtd. Notes, 144A 5.500 09/01/26   525 512,315
Gtd. Notes, 144A(aa) 5.625 02/15/27   5,625 5,472,353
Gtd. Notes, 144A 6.875 04/15/32   440 438,000
          23,535,224
10
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Electrical Components & Equipment 0.8%
Energizer Gamma Acquisition BV,
Gtd. Notes 		3.500 % 06/30/29 EUR 100  $95,083
Energizer Holdings, Inc.,          
Gtd. Notes, 144A 4.375 03/31/29   750 662,245
Gtd. Notes, 144A 4.750 06/15/28   350 318,930
     
 
EnerSys,
Gtd. Notes, 144A 		6.625 01/15/32   160 159,112
WESCO Distribution, Inc.,          
Gtd. Notes, 144A 6.375 03/15/29   420 417,624
Gtd. Notes, 144A 6.625 03/15/32   310 308,466
Gtd. Notes, 144A 7.125 06/15/25   600 600,541
Gtd. Notes, 144A(aa) 7.250 06/15/28   1,130 1,149,263
          3,711,264
Electronics 0.3%
Likewize Corp.,
Sr. Sec’d. Notes, 144A 		9.750 10/15/25   1,515 1,531,109
Engineering & Construction 0.3%
AECOM,
Gtd. Notes 		5.125 03/15/27   205 199,115
Brand Industrial Services, Inc.,
Sr. Sec’d. Notes, 144A 		10.375 08/01/30   350 375,787
TopBuild Corp.,          
Gtd. Notes, 144A 3.625 03/15/29   350 314,286
Gtd. Notes, 144A 4.125 02/15/32   425 367,507
          1,256,695
Entertainment 3.5%
Caesars Entertainment, Inc.,          
Gtd. Notes, 144A(aa) 4.625 10/15/29   2,375 2,117,543
Sr. Sec’d. Notes, 144A 6.500 02/15/32   1,140 1,122,989
Sr. Sec’d. Notes, 144A 7.000 02/15/30   1,575 1,586,312
     
 
CCM Merger, Inc.,
Sr. Unsec’d. Notes, 144A 		6.375 05/01/26   275 273,982
Churchill Downs, Inc.,
Sr. Unsec’d. Notes, 144A 		5.750 04/01/30   1,075 1,025,170
11
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Entertainment (cont’d.)
     
Everi Holdings, Inc.,
Gtd. Notes, 144A 		5.000 % 07/15/29   100  $98,128
Flutter Treasury Designated Activity Co. (United Kingdom),
Sr. Sec’d. Notes, 144A 		6.375 04/29/29   390 390,000
International Game Technology PLC,          
Sr. Sec’d. Notes, 144A 5.250 01/15/29   275 259,012
Sr. Sec’d. Notes, 144A 6.250 01/15/27   350 349,577
Sr. Sec’d. Notes, 144A 6.500 02/15/25   860 860,000
Jacobs Entertainment, Inc.,          
Sr. Unsec’d. Notes, 144A 6.750 02/15/29   825 786,195
Sr. Unsec’d. Notes, 144A 6.750 02/15/29   525 497,049
     
 
Light & Wonder International, Inc.,
Gtd. Notes, 144A 		7.500 09/01/31   75 76,469
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A 		4.875 05/01/29   1,025 936,528
Motion Bondco DAC (United Kingdom),
Gtd. Notes, 144A 		6.625 11/15/27   344 329,586
Penn Entertainment, Inc.,          
Sr. Unsec’d. Notes, 144A 4.125 07/01/29   150 125,564
Sr. Unsec’d. Notes, 144A(aa) 5.625 01/15/27   2,080 1,981,443
     
 
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.,
Gtd. Notes, 144A 		5.875 09/01/31   800 574,482
Scientific Games Holdings LP/Scientific Games US FinCo, Inc.,
Sr. Unsec’d. Notes, 144A 		6.625 03/01/30   825 780,923
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,          
Gtd. Notes, 144A(aa) 5.125 10/01/29   1,110 1,030,199
Gtd. Notes, 144A 7.125 02/15/31   545 553,006
          15,754,157
Environmental Control 0.7%
Covanta Holding Corp.,          
Gtd. Notes 5.000 09/01/30   325 282,183
Gtd. Notes, 144A 4.875 12/01/29   820 718,742
GFL Environmental, Inc.,          
Gtd. Notes, 144A 4.000 08/01/28   275 248,188
12
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Environmental Control (cont’d.)
GFL Environmental, Inc., (cont’d.)          
Gtd. Notes, 144A 4.375 % 08/15/29   1,625  $1,461,484
Gtd. Notes, 144A 4.750 06/15/29   50 46,125
Sr. Sec’d. Notes, 144A 6.750 01/15/31   380 382,139
          3,138,861
Foods 2.1%
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC,
Gtd. Notes, 144A 		3.500 03/15/29   985 868,192
B&G Foods, Inc.,          
Gtd. Notes(aa) 5.250 09/15/27   2,950 2,724,609
Sr. Sec’d. Notes, 144A 8.000 09/15/28   550 569,530
     
 
C&S Group Enterprises LLC,
Gtd. Notes, 144A 		5.000 12/15/28   200 153,000
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance,
Inc., 		         
Gtd. Notes 3.750 12/01/31   525 442,495
Gtd. Notes 5.500 01/15/30   900 868,062
Lamb Weston Holdings, Inc.,          
Gtd. Notes, 144A 4.125 01/31/30   225 200,526
Gtd. Notes, 144A 4.375 01/31/32   500 433,164
     
 
Pilgrim’s Pride Corp.,
Gtd. Notes 		3.500 03/01/32   375 309,507
Post Holdings, Inc.,          
Gtd. Notes, 144A 4.625 04/15/30   1,100 992,780
Gtd. Notes, 144A 5.500 12/15/29   425 402,958
Sr. Sec’d. Notes, 144A 6.250 02/15/32   255 251,873
Sr. Unsec’d. Notes, 144A 4.500 09/15/31   1,400 1,233,105
          9,449,801
Gas 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp.,          
Sr. Unsec’d. Notes 5.500 05/20/25   25 24,914
Sr. Unsec’d. Notes 5.750 05/20/27   415 403,006
Sr. Unsec’d. Notes 5.875 08/20/26   325 319,075
          746,995
13
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Healthcare-Products 1.0%
Embecta Corp.,          
Sr. Sec’d. Notes, 144A 5.000 % 02/15/30   450  $346,935
Sr. Sec’d. Notes, 144A 6.750 02/15/30   150 128,772
     
 
Medline Borrower LP,
Sr. Sec’d. Notes, 144A(aa) 		3.875 04/01/29   4,050 3,625,762
Medline Borrower LP/Medline Co-Issuer, Inc.,
Sr. Sec’d. Notes, 144A 		6.250 04/01/29   475 471,903
          4,573,372
Healthcare-Services 4.1%
DaVita, Inc.,          
Gtd. Notes, 144A(aa) 3.750 02/15/31   3,300 2,717,437
Gtd. Notes, 144A(aa) 4.625 06/01/30   2,475 2,170,577
     
 
Legacy LifePoint Health LLC,
Sr. Sec’d. Notes, 144A 		4.375 02/15/27   550 515,709
LifePoint Health, Inc.,
Gtd. Notes, 144A 		5.375 01/15/29   925 739,514
Prime Healthcare Services, Inc.,
Sr. Sec’d. Notes, 144A 		7.250 11/01/25   1,550 1,545,376
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc.,
Gtd. Notes, 144A(aa) 		9.750 12/01/26   2,875 2,861,538
Tenet Healthcare Corp.,          
Sr. Sec’d. Notes(aa) 4.250 06/01/29   1,925 1,762,793
Sr. Sec’d. Notes(aa) 4.375 01/15/30   4,825 4,385,153
Sr. Unsec’d. Notes(aa) 6.875 11/15/31   2,025 2,093,185
          18,791,282
Home Builders 5.4%
Ashton Woods USA LLC/Ashton Woods Finance Co.,          
Sr. Unsec’d. Notes, 144A 4.625 08/01/29   975 882,244
Sr. Unsec’d. Notes, 144A 4.625 04/01/30   625 558,143
Beazer Homes USA, Inc.,          
Gtd. Notes 5.875 10/15/27   1,425 1,382,604
Gtd. Notes(aa) 7.250 10/15/29   1,975 1,952,396
Sr. Unsec’d. Notes, 144A 7.500 03/15/31   515 509,606
14
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Home Builders (cont’d.)
Brookfield Residential Properties, Inc./Brookfield
Residential US LLC (Canada), 		         
Gtd. Notes, 144A(aa) 4.875 % 02/15/30   2,175  $1,881,897
Gtd. Notes, 144A 6.250 09/15/27   40 38,400
Sr. Unsec’d. Notes, 144A 5.000 06/15/29   600 528,000
     
 
Empire Communities Corp. (Canada),
Sr. Unsec’d. Notes, 144A 		9.750 05/01/29   445 453,580
Forestar Group, Inc.,          
Gtd. Notes, 144A 3.850 05/15/26   450 427,356
Gtd. Notes, 144A(aa) 5.000 03/01/28   1,200 1,139,539
KB Home,          
Gtd. Notes 4.800 11/15/29   1,000 926,224
Gtd. Notes 6.875 06/15/27   1,225 1,253,856
     
 
Landsea Homes Corp.,
Sr. Unsec’d. Notes, 144A 		8.875 04/01/29   845 829,149
Lennar Corp.,
Gtd. Notes(aa) 		5.000 06/15/27   1,250 1,233,646
M/I Homes, Inc.,          
Gtd. Notes 3.950 02/15/30   375 325,053
Gtd. Notes 4.950 02/01/28   450 426,196
Mattamy Group Corp. (Canada),          
Sr. Unsec’d. Notes, 144A(aa) 4.625 03/01/30   1,333 1,188,036
Sr. Unsec’d. Notes, 144A(aa) 5.250 12/15/27   1,075 1,026,625
     
 
Meritage Homes Corp.,
Gtd. Notes(aa) 		5.125 06/06/27   1,775 1,729,289
New Home Co., Inc. (The),
Sr. Unsec’d. Notes, 144A 		9.250 10/01/29   385 385,717
Shea Homes LP/Shea Homes Funding Corp.,          
Sr. Unsec’d. Notes 4.750 02/15/28   1,043 978,873
Sr. Unsec’d. Notes 4.750 04/01/29   475 435,910
     
 
STL Holding Co. LLC,
Sr. Unsec’d. Notes, 144A 		8.750 02/15/29   535 549,749
Taylor Morrison Communities, Inc.,          
Gtd. Notes, 144A 5.750 01/15/28   450 438,256
Gtd. Notes, 144A 5.875 06/15/27   925 911,700
Sr. Unsec’d. Notes, 144A 5.125 08/01/30   830 772,864
     
 
Tri Pointe Homes, Inc.,
Gtd. Notes 		5.700 06/15/28   1,555 1,502,255
          24,667,163
15
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Home Furnishings 0.0%
Tempur Sealy International, Inc.,
Gtd. Notes, 144A 		4.000 % 04/15/29   200  $178,000
Household Products/Wares 0.4%
ACCO Brands Corp.,
Gtd. Notes, 144A(aa) 		4.250 03/15/29   1,150 1,001,938
Central Garden & Pet Co.,
Gtd. Notes, 144A 		4.125 04/30/31   100 86,689
Kronos Acquisition Holdings, Inc./KIK Custom Products,
Inc. (Canada), 		         
Gtd. Notes, 144A 7.000 12/31/27   800 770,000
Sr. Sec’d. Notes, 144A 5.000 12/31/26   175 168,875
          2,027,502
Housewares 0.7%
Scotts Miracle-Gro Co. (The),          
Gtd. Notes 4.000 04/01/31   1,500 1,265,056
Gtd. Notes 4.375 02/01/32   1,200 1,009,710
     
 
SWF Escrow Issuer Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		6.500 10/01/29   1,675 1,035,368
          3,310,134
Insurance 0.5%
Acrisure LLC/Acrisure Finance, Inc.,          
Sr. Unsec’d. Notes, 144A 8.250 02/01/29   1,105 1,097,268
Sr. Unsec’d. Notes, 144A 10.125 08/01/26   225 232,505
     
 
AmWINS Group, Inc.,
Sr. Unsec’d. Notes, 144A 		4.875 06/30/29   175 159,072
AssuredPartners, Inc.,
Sr. Unsec’d. Notes, 144A 		5.625 01/15/29   360 328,281
BroadStreet Partners, Inc.,
Sr. Unsec’d. Notes, 144A 		5.875 04/15/29   725 660,949
          2,478,075
Internet 1.4%
Cablevision Lightpath LLC,          
Sr. Sec’d. Notes, 144A(aa) 3.875 09/15/27   2,325 2,049,326
16
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Internet (cont’d.)
Cablevision Lightpath LLC, (cont’d.)          
Sr. Unsec’d. Notes, 144A 5.625 % 09/15/28   625   $504,723
     
 
Gen Digital, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		5.000 04/15/25   2,000 1,976,638
Go Daddy Operating Co. LLC/GD Finance Co., Inc.,          
Gtd. Notes, 144A 3.500 03/01/29   525 465,979
Gtd. Notes, 144A 5.250 12/01/27   1,165 1,125,189
          6,121,855
Iron/Steel 0.8%
ATI, Inc.,
Sr. Unsec’d. Notes 		7.250 08/15/30   245 250,925
Big River Steel LLC/BRS Finance Corp.,
Sr. Sec’d. Notes, 144A(aa) 		6.625 01/31/29   1,709 1,705,518
Cleveland-Cliffs, Inc.,
Gtd. Notes, 144A 		6.750 04/15/30   800 780,665
Commercial Metals Co.,          
Sr. Unsec’d. Notes 4.125 01/15/30   175 156,744
Sr. Unsec’d. Notes 4.375 03/15/32   275 241,558
     
 
Mineral Resources Ltd. (Australia),
Sr. Unsec’d. Notes, 144A 		9.250 10/01/28   575 601,594
          3,737,004
Leisure Time 4.7%
Amer Sports Co. (Finland),
Sr. Sec’d. Notes, 144A 		6.750 02/16/31   700 686,451
Carnival Corp.,          
Gtd. Notes, 144A 5.750 03/01/27   4,175 4,059,269
Gtd. Notes, 144A 6.000 05/01/29   163 157,397
Gtd. Notes, 144A 10.500 06/01/30   200 216,750
Sr. Sec’d. Notes, 144A 4.000 08/01/28   325 297,063
     
 
Carnival Holdings Bermuda Ltd.,
Gtd. Notes, 144A 		10.375 05/01/28   1,300 1,409,344
Lindblad Expeditions Holdings, Inc.,
Sr. Sec’d. Notes, 144A 		9.000 05/15/28   975 1,019,842
NCL Corp. Ltd.,          
Gtd. Notes, 144A 5.875 03/15/26   2,150 2,098,959
Sr. Sec’d. Notes, 144A 5.875 02/15/27   150 146,483
17
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Leisure Time (cont’d.)
NCL Corp. Ltd., (cont’d.)          
Sr. Sec’d. Notes, 144A 8.125 % 01/15/29   650  $676,812
Sr. Sec’d. Notes, 144A 8.375 02/01/28   900 936,214
Sr. Unsec’d. Notes, 144A 7.750 02/15/29   1,435 1,463,513
Royal Caribbean Cruises Ltd.,          
Gtd. Notes, 144A 7.250 01/15/30   150 153,996
Gtd. Notes, 144A 9.250 01/15/29   700 747,250
Sr. Sec’d. Notes, 144A 8.250 01/15/29   875 920,334
Sr. Unsec’d. Notes, 144A 5.375 07/15/27   625 608,112
Sr. Unsec’d. Notes, 144A 5.500 08/31/26   250 244,018
Sr. Unsec’d. Notes, 144A 5.500 04/01/28   1,400 1,358,000
Viking Cruises Ltd.,          
Gtd. Notes, 144A 5.875 09/15/27   1,700 1,642,625
Sr. Unsec’d. Notes, 144A 7.000 02/15/29   250 248,968
Sr. Unsec’d. Notes, 144A 9.125 07/15/31   350 375,375
     
 
Viking Ocean Cruises Ship VII Ltd.,
Sr. Sec’d. Notes, 144A 		5.625 02/15/29   1,450 1,384,750
Vista Outdoor, Inc.,
Gtd. Notes, 144A 		4.500 03/15/29   225 222,226
          21,073,751
Lodging 2.3%
Boyd Gaming Corp.,
Gtd. Notes, 144A 		4.750 06/15/31   475 421,191
Hilton Domestic Operating Co., Inc.,          
Gtd. Notes, 144A 3.625 02/15/32   900 756,321
Gtd. Notes, 144A 4.000 05/01/31   275 240,833
Gtd. Notes, 144A 5.875 04/01/29   520 513,487
MGM Resorts International,          
Gtd. Notes 4.625 09/01/26   175 168,428
Gtd. Notes 4.750 10/15/28   225 209,499
Gtd. Notes(aa) 5.500 04/15/27   1,136 1,107,599
Gtd. Notes 5.750 06/15/25   50 49,743
Gtd. Notes 6.500 04/15/32   1,465 1,421,082
Gtd. Notes 6.750 05/01/25   1,710 1,710,000
     
 
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A 		5.875 05/15/25   625 621,883
18
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Lodging (cont’d.)
Wynn Macau Ltd. (Macau),          
Sr. Unsec’d. Notes, 144A 5.125 % 12/15/29   1,325  $1,172,625
Sr. Unsec’d. Notes, 144A 5.500 10/01/27   550 517,687
Sr. Unsec’d. Notes, 144A 5.625 08/26/28   1,400 1,292,900
          10,203,278
Machinery-Construction & Mining 0.2%
Terex Corp.,
Gtd. Notes, 144A 		5.000 05/15/29   725 678,267
Machinery-Diversified 0.7%
Chart Industries, Inc.,          
Gtd. Notes, 144A 9.500 01/01/31   435 467,213
Sr. Sec’d. Notes, 144A 7.500 01/01/30   750 767,581
     
 
GrafTech Finance, Inc.,
Sr. Sec’d. Notes, 144A 		4.625 12/15/28   975 629,091
Maxim Crane Works Holdings Capital LLC,
Sec’d. Notes, 144A 		11.500 09/01/28   785 831,231
TK Elevator US Newco, Inc. (Germany),
Sr. Sec’d. Notes, 144A 		5.250 07/15/27   625 597,856
          3,292,972
Media 7.6%
Altice Financing SA (Luxembourg),          
Sr. Sec’d. Notes, 144A 2.250 01/15/25 EUR 1,000 1,031,609
Sr. Sec’d. Notes, 144A 5.000 01/15/28   875 689,063
Sr. Sec’d. Notes, 144A 5.750 08/15/29   1,575 1,169,438
CCO Holdings LLC/CCO Holdings Capital Corp.,          
Sr. Unsec’d. Notes, 144A(aa) 4.250 02/01/31   5,200 4,081,918
Sr. Unsec’d. Notes, 144A 4.500 06/01/33   625 470,056
Sr. Unsec’d. Notes, 144A(aa) 4.750 03/01/30   2,900 2,411,695
Sr. Unsec’d. Notes, 144A 5.000 02/01/28   1,000 911,011
Sr. Unsec’d. Notes, 144A 5.125 05/01/27   75 70,336
Sr. Unsec’d. Notes, 144A 5.500 05/01/26   375 367,402
CSC Holdings LLC,          
Gtd. Notes, 144A 3.375 02/15/31   1,175 727,142
Gtd. Notes, 144A(aa) 4.125 12/01/30   775 494,332
Gtd. Notes, 144A 6.500 02/01/29   1,200 898,257
19
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Media (cont’d.)
CSC Holdings LLC, (cont’d.)          
Sr. Unsec’d. Notes, 144A(aa) 4.625 % 12/01/30   4,075  $1,765,421
Sr. Unsec’d. Notes, 144A(aa) 5.750 01/15/30   2,550 1,115,819
Diamond Sports Group LLC/Diamond Sports Finance
Co., 		         
Gtd. Notes, 144A (original cost $5,393,891; purchased 07/18/19 - 11/18/21)(f) 6.625 08/15/27(d)   6,595 168,023
Sec’d. Notes, 144A (original cost $3,277,261; purchased 07/18/19 - 08/30/22)(f) 5.375 08/15/26(d)   6,090 155,946
DISH DBS Corp.,          
Gtd. Notes 5.125 06/01/29   1,840 741,089
Gtd. Notes 7.375 07/01/28   1,065 475,315
Gtd. Notes 7.750 07/01/26   5,015 3,153,797
     
 
DISH Network Corp.,
Sr. Sec’d. Notes, 144A(aa) 		11.750 11/15/27   1,875 1,891,003
Gray Television, Inc.,
Gtd. Notes, 144A 		5.875 07/15/26   1,705 1,642,382
Midcontinent Communications/Midcontinent Finance Corp.,
Gtd. Notes, 144A 		5.375 08/15/27   1,040 993,839
News Corp.,
Sr. Unsec’d. Notes, 144A 		3.875 05/15/29   325 291,886
Nexstar Media, Inc.,
Gtd. Notes, 144A 		5.625 07/15/27   984 925,196
Radiate Holdco LLC/Radiate Finance, Inc.,          
Sr. Sec’d. Notes, 144A 4.500 09/15/26   610 465,948
Sr. Unsec’d. Notes, 144A(aa) 6.500 09/15/28   3,680 1,538,777
     
 
Sinclair Television Group, Inc.,
Gtd. Notes, 144A 		5.125 02/15/27   1,095 984,716
Univision Communications, Inc.,          
Sr. Sec’d. Notes, 144A 4.500 05/01/29   400 347,180
Sr. Sec’d. Notes, 144A(aa) 6.625 06/01/27   2,135 2,061,847
Sr. Sec’d. Notes, 144A 8.000 08/15/28   1,205 1,205,849
     
 
VZ Secured Financing BV (Netherlands),
Sr. Sec’d. Notes, 144A 		5.000 01/15/32   1,600 1,341,008
          34,587,300
20
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Metal Fabricate/Hardware 0.1%
Roller Bearing Co. of America, Inc.,
Sr. Unsec’d. Notes, 144A 		4.375 % 10/15/29   525  $474,886
Mining 2.0%
Alcoa Nederland Holding BV,
Gtd. Notes, 144A 		7.125 03/15/31   215 217,150
Arsenal AIC Parent LLC,          
Sr. Sec’d. Notes, 144A 8.000 10/01/30   275 286,893
Unsec’d. Notes, 144A 11.500 10/01/31   535 595,524
     
 
Eldorado Gold Corp. (Turkey),
Sr. Unsec’d. Notes, 144A 		6.250 09/01/29   1,180 1,113,566
First Quantum Minerals Ltd. (Zambia),          
Gtd. Notes, 144A 6.875 10/15/27   700 672,000
Gtd. Notes, 144A 8.625 06/01/31   500 486,225
Sec’d. Notes, 144A 9.375 03/01/29   210 218,467
     
 
Hecla Mining Co.,
Gtd. Notes(aa) 		7.250 02/15/28   700 699,890
Hudbay Minerals, Inc. (Canada),          
Gtd. Notes, 144A 4.500 04/01/26   900 867,375
Gtd. Notes, 144A 6.125 04/01/29   1,270 1,241,755
     
 
New Gold, Inc. (Canada),
Gtd. Notes, 144A 		7.500 07/15/27   1,245 1,229,437
Novelis Corp.,          
Gtd. Notes, 144A 3.875 08/15/31   775 656,548
Gtd. Notes, 144A 4.750 01/30/30   490 446,450
     
 
Taseko Mines Ltd. (Canada),
Sr. Sec’d. Notes, 144A 		8.250 05/01/30   375 381,008
          9,112,288
Miscellaneous Manufacturing 0.5%
Amsted Industries, Inc.,          
Gtd. Notes, 144A(aa) 5.625 07/01/27   1,075 1,045,174
Sr. Unsec’d. Notes, 144A(aa) 4.625 05/15/30   785 704,460
     
 
Trinity Industries, Inc.,
Gtd. Notes, 144A 		7.750 07/15/28   550 563,152
          2,312,786
21
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Office/Business Equipment 0.1%
CDW LLC/CDW Finance Corp.,
Gtd. Notes 		3.250 % 02/15/29   685  $608,220
Oil & Gas 8.5%
Aethon United BR LP/Aethon United Finance Corp.,
Sr. Unsec’d. Notes, 144A 		8.250 02/15/26   550 553,993
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp.,
Gtd. Notes 		7.875 12/15/24(d)   5,325 533
Antero Resources Corp.,          
Gtd. Notes, 144A 5.375 03/01/30   775 736,817
Gtd. Notes, 144A 7.625 02/01/29   504 517,424
Ascent Resources Utica Holdings LLC/ARU Finance
Corp., 		         
Gtd. Notes, 144A 7.000 11/01/26   25 25,022
Gtd. Notes, 144A 9.000 11/01/27   527 660,105
Sr. Unsec’d. Notes, 144A(aa) 8.250 12/31/28   2,192 2,234,622
     
 
Athabasca Oil Corp. (Canada),
Sec’d. Notes, 144A(aa) 		9.750 11/01/26   1,650 1,724,250
Chesapeake Energy Corp.,          
Gtd. Notes, 144A 5.500 02/01/26   375 371,105
Gtd. Notes, 144A 5.875 02/01/29   750 735,540
Gtd. Notes, 144A 6.750 04/15/29   325 324,847
     
 
CITGO Petroleum Corp.,
Sr. Sec’d. Notes, 144A 		7.000 06/15/25   1,175 1,173,940
Civitas Resources, Inc.,          
Gtd. Notes, 144A 8.375 07/01/28   975 1,017,371
Gtd. Notes, 144A 8.625 11/01/30   575 613,602
     
 
CNX Resources Corp.,
Gtd. Notes, 144A 		7.250 03/01/32   395 396,523
Comstock Resources, Inc.,          
Gtd. Notes, 144A 5.875 01/15/30   600 547,213
Gtd. Notes, 144A 6.750 03/01/29   975 929,694
Crescent Energy Finance LLC,          
Gtd. Notes, 144A 9.250 02/15/28   925 977,515
Sr. Unsec’d. Notes, 144A 7.625 04/01/32   530 532,165
CrownRock LP/CrownRock Finance, Inc.,          
Sr. Unsec’d. Notes, 144A 5.000 05/01/29   326 321,781
Sr. Unsec’d. Notes, 144A 5.625 10/15/25   525 521,926
22
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Oil & Gas (cont’d.)
     
 
Diamond Foreign Asset Co./Diamond Finance LLC,
Sec’d. Notes, 144A 		8.500 % 10/01/30   300  $311,880
Endeavor Energy Resources LP/EER Finance, Inc.,
Sr. Unsec’d. Notes, 144A 		5.750 01/30/28   775 789,849
Hilcorp Energy I LP/Hilcorp Finance Co.,          
Sr. Unsec’d. Notes, 144A 5.750 02/01/29   275 264,912
Sr. Unsec’d. Notes, 144A 6.000 04/15/30   820 786,238
Sr. Unsec’d. Notes, 144A 6.000 02/01/31   625 598,631
Sr. Unsec’d. Notes, 144A(aa) 6.250 11/01/28   1,808 1,780,966
Sr. Unsec’d. Notes, 144A 6.250 04/15/32   750 726,289
Sr. Unsec’d. Notes, 144A 8.375 11/01/33   283 303,687
     
 
Matador Resources Co.,
Gtd. Notes, 144A 		6.500 04/15/32   635 629,339
MEG Energy Corp. (Canada),
Gtd. Notes, 144A 		5.875 02/01/29   575 554,875
Nabors Industries Ltd.,          
Gtd. Notes, 144A 7.250 01/15/26   515 508,578
Gtd. Notes, 144A 7.500 01/15/28   1,065 1,006,425
Nabors Industries, Inc.,          
Gtd. Notes, 144A 7.375 05/15/27   270 267,564
Gtd. Notes, 144A 9.125 01/31/30   1,230 1,272,428
     
 
Noble Finance II LLC,
Gtd. Notes, 144A 		8.000 04/15/30   225 232,222
Parkland Corp. (Canada),          
Gtd. Notes, 144A 4.500 10/01/29   525 474,590
Gtd. Notes, 144A 4.625 05/01/30   1,325 1,197,469
Permian Resources Operating LLC,          
Gtd. Notes, 144A 7.000 01/15/32   520 530,799
Gtd. Notes, 144A 8.000 04/15/27   250 256,920
Precision Drilling Corp. (Canada),          
Gtd. Notes, 144A 6.875 01/15/29   275 271,986
Gtd. Notes, 144A(aa) 7.125 01/15/26   1,106 1,104,617
Range Resources Corp.,          
Gtd. Notes 4.875 05/15/25   100 99,101
Gtd. Notes, 144A 4.750 02/15/30   575 530,048
     
 
SilverBow Resources, Inc.,
Sec’d. Notes, 144A, 3 Month SOFR + 7.750%(aa) 		13.079(c) 12/15/28   1,905 1,881,616
Southwestern Energy Co.,          
Gtd. Notes 4.750 02/01/32   1,300 1,170,655
Gtd. Notes 5.375 02/01/29   375 359,746
23
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Oil & Gas (cont’d.)
Southwestern Energy Co., (cont’d.)          
Gtd. Notes(aa) 5.375 % 03/15/30   1,710   $1,623,490
     
 
Sunoco LP,
Sr. Unsec’d. Notes, 144A 		7.000 05/01/29   585 594,046
Sunoco LP/Sunoco Finance Corp.,          
Gtd. Notes 4.500 05/15/29   1,455 1,329,081
Gtd. Notes 4.500 04/30/30   775 698,317
Transocean, Inc.,          
Gtd. Notes, 144A 8.000 02/01/27   86 86,314
Gtd. Notes, 144A 8.250 05/15/29   695 690,691
     
 
Valaris Ltd.,
Sec’d. Notes, 144A 		8.375 04/30/30   425 435,226
Vital Energy, Inc.,
Gtd. Notes 		9.750 10/15/30   225 245,142
          38,529,725
Packaging & Containers 2.6%
ARD Finance SA (Luxembourg),
Sr. Sec’d. Notes, 144A, Cash coupon 6.500% or PIK 7.250%(aa) 		6.500 06/30/27   1,266 310,285
Ardagh Packaging Finance PLC/Ardagh Holdings USA,
Inc., 		         
Sr. Sec’d. Notes 2.125 08/15/26 EUR 200 168,275
Sr. Sec’d. Notes, 144A 4.125 08/15/26   400 333,676
     
 
Graham Packaging Co., Inc.,
Gtd. Notes, 144A 		7.125 08/15/28   670 605,771
Graphic Packaging International LLC,          
Gtd. Notes 4.125 08/15/24   300 298,123
Gtd. Notes, 144A 3.500 03/01/29   575 508,597
     
 
Intelligent Packaging Holdco Issuer LP (Canada),
Sr. Unsec’d. Notes, 144A, Cash coupon 9.000% or PIK 9.750% 		9.000 01/15/26   300 285,000
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada),
Sr. Sec’d. Notes, 144A 		6.000 09/15/28   1,184 1,127,121
Iris Holding, Inc.,
Sr. Unsec’d. Notes, 144A 		10.000 12/15/28   925 820,638
LABL, Inc.,          
Sr. Sec’d. Notes, 144A 5.875 11/01/28   425 378,809
24
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Packaging & Containers (cont’d.)
LABL, Inc., (cont’d.)          
Sr. Sec’d. Notes, 144A 6.750 % 07/15/26   250  $246,756
Sr. Sec’d. Notes, 144A 9.500 11/01/28   200 200,086
Sr. Unsec’d. Notes, 144A 8.250 11/01/29   580 491,668
Sr. Unsec’d. Notes, 144A 10.500 07/15/27   820 805,739
     
 
Mauser Packaging Solutions Holding Co.,
Sr. Sec’d. Notes, 144A 		7.875 04/15/27   1,025 1,043,267
OI European Group BV,
Gtd. Notes, 144A 		4.750 02/15/30   325 296,257
Owens-Brockway Glass Container, Inc.,          
Gtd. Notes, 144A 6.375 08/15/25   500 502,267
Gtd. Notes, 144A 6.625 05/13/27   230 229,814
Gtd. Notes, 144A 7.250 05/15/31   400 400,674
     
 
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.,
Sr. Sec’d. Notes, 144A 		4.375 10/15/28   725 668,369
Sealed Air Corp./Sealed Air Corp. US,
Gtd. Notes, 144A 		6.125 02/01/28   150 148,223
Trident TPI Holdings, Inc.,
Gtd. Notes, 144A(aa) 		12.750 12/31/28   1,375 1,486,582
TriMas Corp.,
Gtd. Notes, 144A 		4.125 04/15/29   325 292,025
          11,648,022
Pharmaceuticals 2.6%
AdaptHealth LLC,          
Gtd. Notes, 144A(aa) 4.625 08/01/29   1,225 1,032,494
Gtd. Notes, 144A 5.125 03/01/30   725 617,325
Gtd. Notes, 144A 6.125 08/01/28   845 791,880
     
 
Bausch Health Americas, Inc.,
Gtd. Notes, 144A 		8.500 01/31/27   925 603,345
Bausch Health Cos., Inc.,          
Gtd. Notes, 144A 5.000 01/30/28   975 446,690
Gtd. Notes, 144A 5.000 02/15/29   1,150 497,375
Gtd. Notes, 144A(aa) 5.250 01/30/30   2,325 988,125
Gtd. Notes, 144A(aa) 5.250 02/15/31   2,635 1,116,374
Gtd. Notes, 144A(aa) 6.250 02/15/29   4,110 1,782,713
Gtd. Notes, 144A 7.000 01/15/28   250 132,500
Gtd. Notes, 144A 9.000 12/15/25   500 472,500
25
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Pharmaceuticals (cont’d.)
     
 
Jazz Securities DAC,
Sr. Sec’d. Notes, 144A 		4.375 % 01/15/29   355  $322,802
Organon & Co./Organon Foreign Debt Co-Issuer BV,
Sr. Unsec’d. Notes, 144A(aa) 		5.125 04/30/31   2,875 2,486,629
P&L Development LLC/PLD Finance Corp.,
Sr. Sec’d. Notes, 144A 		7.750 11/15/25   625 529,329
          11,820,081
Pipelines 5.2%
Antero Midstream Partners LP/Antero Midstream
Finance Corp., 		         
Gtd. Notes, 144A 5.375 06/15/29   725 692,065
Gtd. Notes, 144A(aa) 5.750 01/15/28   2,425 2,374,855
Gtd. Notes, 144A 6.625 02/01/32   270 268,911
     
 
Cheniere Energy Partners LP,
Gtd. Notes 		4.000 03/01/31   1,575 1,402,988
Cheniere Energy, Inc.,
Sr. Unsec’d. Notes 		4.625 10/15/28   1,190 1,138,157
CNX Midstream Partners LP,
Gtd. Notes, 144A 		4.750 04/15/30   100 88,368
Energy Transfer LP,
Jr. Sub. Notes, Series G(aa) 		7.125(ff) 05/15/30(oo)   1,075 1,030,653
EQM Midstream Partners LP,          
Sr. Unsec’d. Notes 5.500 07/15/28   50 48,708
Sr. Unsec’d. Notes, 144A 6.000 07/01/25   351 350,583
Sr. Unsec’d. Notes, 144A 6.500 07/01/27   1,275 1,278,885
Sr. Unsec’d. Notes, 144A 7.500 06/01/27   125 127,269
Sr. Unsec’d. Notes, 144A 7.500 06/01/30   680 713,141
Global Partners LP/GLP Finance Corp.,          
Gtd. Notes 6.875 01/15/29   375 366,926
Gtd. Notes 7.000 08/01/27   650 645,280
Gtd. Notes, 144A 8.250 01/15/32   375 384,602
     
 
Harvest Midstream I LP,
Sr. Unsec’d. Notes, 144A 		7.500 05/15/32   280 280,417
Howard Midstream Energy Partners LLC,
Sr. Unsec’d. Notes, 144A 		8.875 07/15/28   250 261,654
Rockies Express Pipeline LLC,
Sr. Unsec’d. Notes, 144A(aa) 		6.875 04/15/40   2,050 1,956,469
26
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Pipelines (cont’d.)
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp., 		         
Gtd. Notes, 144A(aa) 5.500 % 01/15/28   1,829  $1,736,711
Gtd. Notes, 144A 6.000 12/31/30   365 343,446
Sr. Unsec’d. Notes, 144A 7.375 02/15/29   435 435,899
Venture Global Calcasieu Pass LLC,          
Sr. Sec’d. Notes, 144A 3.875 08/15/29   985 869,765
Sr. Sec’d. Notes, 144A 4.125 08/15/31   285 249,525
Sr. Sec’d. Notes, 144A 6.250 01/15/30   300 297,007
Venture Global LNG, Inc.,          
Sr. Sec’d. Notes, 144A(aa) 9.500 02/01/29   2,350 2,526,626
Sr. Sec’d. Notes, 144A(aa) 9.875 02/01/32   2,500 2,666,413
Western Midstream Operating LP,          
Sr. Unsec’d. Notes(aa) 4.050 02/01/30   1,275 1,171,991
Sr. Unsec’d. Notes 5.500 08/15/48   75 63,248
          23,770,562
Real Estate 1.2%
Five Point Operating Co. LP/Five Point Capital Corp.,
Gtd. Notes, 144A 		10.500(cc) 01/15/28   1,112 1,138,652
Greystar Real Estate Partners LLC,
Sr. Sec’d. Notes, 144A 		7.750 09/01/30   250 258,558
Howard Hughes Corp. (The),          
Gtd. Notes, 144A 4.125 02/01/29   1,175 1,042,818
Gtd. Notes, 144A 4.375 02/01/31   875 743,554
Gtd. Notes, 144A 5.375 08/01/28   665 628,067
     
 
Hunt Cos., Inc.,
Sr. Sec’d. Notes, 144A(aa) 		5.250 04/15/29   1,725 1,546,701
          5,358,350
Real Estate Investment Trusts (REITs) 2.2%
Brandywine Operating Partnership LP,
Gtd. Notes 		8.875 04/12/29   60 61,423
Diversified Healthcare Trust,          
Gtd. Notes 4.375 03/01/31   861 623,446
Gtd. Notes 9.750 06/15/25   75 75,122
Sr. Unsec’d. Notes(aa) 4.750 02/15/28   1,375 1,081,576
27
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Real Estate Investment Trusts (REITs) (cont’d.)
MPT Operating Partnership LP/MPT Finance Corp.,          
Gtd. Notes 3.500 % 03/15/31   1,050  $704,033
Gtd. Notes 5.000 10/15/27   1,200 983,703
     
 
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer,
Sr. Sec’d. Notes, 144A(aa) 		7.500 06/01/25   1,665 1,665,947
RHP Hotel Properties LP/RHP Finance Corp.,          
Gtd. Notes, 144A 4.500 02/15/29   675 621,690
Gtd. Notes, 144A 6.500 04/01/32   565 553,966
     
 
SBA Communications Corp.,
Sr. Unsec’d. Notes 		3.125 02/01/29   350 304,810
Starwood Property Trust, Inc.,          
Sr. Unsec’d. Notes, 144A 4.375 01/15/27   275 254,992
Sr. Unsec’d. Notes, 144A 7.250 04/01/29   420 414,568
VICI Properties LP/VICI Note Co., Inc.,          
Gtd. Notes, 144A(aa) 4.500 01/15/28   2,000 1,897,640
Gtd. Notes, 144A(aa) 4.625 12/01/29   825 764,876
          10,007,792
Retail 5.5%
1011778 BC ULC/New Red Finance, Inc. (Canada),          
Sec’d. Notes, 144A(aa) 4.000 10/15/30   2,525 2,168,344
Sr. Sec’d. Notes, 144A 3.875 01/15/28   338 311,805
     
 
Arko Corp.,
Gtd. Notes, 144A 		5.125 11/15/29   975 785,208
BCPE Ulysses Intermediate, Inc.,
Sr. Unsec’d. Notes, 144A, Cash coupon 7.750% or PIK 8.500% 		7.750 04/01/27   225 218,785
Beacon Roofing Supply, Inc.,
Sr. Sec’d. Notes, 144A 		6.500 08/01/30   125 124,806
Brinker International, Inc.,          
Gtd. Notes, 144A 5.000 10/01/24   450 447,664
Gtd. Notes, 144A 8.250 07/15/30   900 938,836
     
 
Carrols Restaurant Group, Inc.,
Gtd. Notes, 144A 		5.875 07/01/29   500 508,750
eG Global Finance PLC (United Kingdom),
Sr. Sec’d. Notes, 144A 		12.000 11/30/28   875 900,156
28
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Retail (cont’d.)
Ferrellgas LP/Ferrellgas Finance Corp.,          
Sr. Unsec’d. Notes, 144A (original cost $115,938; purchased 08/02/22 - 08/04/22)(f) 5.375 % 04/01/26   125  $122,581
Sr. Unsec’d. Notes, 144A (original cost $850,675; purchased 08/02/22 - 08/22/22)(f) 5.875 04/01/29   980 928,896
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc., 		         
Gtd. Notes, 144A(aa) 6.750 01/15/30   2,600 2,264,713
Sr. Sec’d. Notes, 144A 4.625 01/15/29   425 384,418
     
 
Foundation Building Materials, Inc.,
Gtd. Notes, 144A(aa) 		6.000 03/01/29   1,150 1,014,401
Gap, Inc. (The),          
Gtd. Notes, 144A 3.625 10/01/29   900 762,287
Gtd. Notes, 144A 3.875 10/01/31   575 469,634
     
 
LBM Acquisition LLC,
Gtd. Notes, 144A(aa) 		6.250 01/15/29   1,550 1,423,311
LCM Investments Holdings II LLC,          
Sr. Unsec’d. Notes, 144A(aa) 4.875 05/01/29   1,875 1,712,576
Sr. Unsec’d. Notes, 144A 8.250 08/01/31   720 748,643
Park River Holdings, Inc.,          
Gtd. Notes, 144A(aa) 5.625 02/01/29   1,700 1,407,802
Sr. Unsec’d. Notes, 144A 6.750 08/01/29   200 172,284
Patrick Industries, Inc.,          
Gtd. Notes, 144A 4.750 05/01/29   75 68,182
Gtd. Notes, 144A 7.500 10/15/27   675 678,677
     
 
Sally Holdings LLC/Sally Capital, Inc.,
Gtd. Notes 		6.750 03/01/32   1,170 1,130,211
SRS Distribution, Inc.,
Gtd. Notes, 144A(aa) 		6.000 12/01/29   1,075 1,089,094
Suburban Propane Partners LP/Suburban Energy
Finance Corp., 		         
Sr. Unsec’d. Notes 5.875 03/01/27   610 601,394
Sr. Unsec’d. Notes, 144A 5.000 06/01/31   1,275 1,130,571
     
 
Superior Plus LP/Superior General Partner, Inc. (Canada),
Gtd. Notes, 144A 		4.500 03/15/29   1,400 1,265,250
White Cap Buyer LLC,
Sr. Unsec’d. Notes, 144A 		6.875 10/15/28   950 917,762
          24,697,041
29
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Software 1.0%
Black Knight InfoServ LLC,
Gtd. Notes, 144A 		3.625 % 09/01/28   1,643  $1,526,504
Boxer Parent Co., Inc.,
Sr. Sec’d. Notes, 144A 		7.125 10/02/25   600 601,023
Clarivate Science Holdings Corp.,          
Gtd. Notes, 144A 4.875 07/01/29   1,425 1,298,113
Sr. Sec’d. Notes, 144A 3.875 07/01/28   1,075 979,099
          4,404,739
Telecommunications 4.9%
Altice France SA (France),
Sr. Sec’d. Notes, 144A(aa) 		8.125 02/01/27   1,455 1,091,250
Connect Finco Sarl/Connect US Finco LLC (United Kingdom),
Sr. Sec’d. Notes, 144A 		6.750 10/01/26   650 627,725
Digicel Group Holdings Ltd. (Jamaica),          
Sr. Sec’d. Notes, Series 1A14, 144A (original cost $55,309; purchased 11/14/23)^(f) 0.000 12/31/30   49 58,446
Sr. Sec’d. Notes, Series 1B14, 144A (original cost $58; purchased 11/14/23)^(f) 0.000 12/31/30   585 1
Sr. Sec’d. Notes, Series 3A14, 144A (original cost $697; purchased 11/14/23)^(f) 0.000 12/31/30   —(r) 137
Sr. Sec’d. Notes, Series 3B14, 144A (original cost $3; purchased 11/14/23)^(f) 0.000 12/31/30   35 —
     
 
Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./DIFL US LLC (Jamaica),
Sr. Sec’d. Notes, Cash coupon 9.000% and PIK 1.500% (original cost $1,297,663; purchased 01/30/24 - 01/31/24)(f) 		10.500 05/25/27   1,405 1,368,218
Digicel MidCo Ltd./DIFL US II LLC (Jamaica),
Sr. Unsec’d. Notes, PIK 10.500% (original cost $729,618; purchased 01/30/24)(f) 		10.500 11/25/28   1,130 895,855
Frontier Communications Holdings LLC,
Sr. Sec’d. Notes, 144A(aa) 		5.000 05/01/28   1,875 1,724,666
Iliad Holding SASU (France),          
Sr. Sec’d. Notes, 144A 6.500 10/15/26   1,095 1,089,525
Sr. Sec’d. Notes, 144A 7.000 10/15/28   375 365,625
Sr. Sec’d. Notes, 144A 8.500 04/15/31   335 337,523
     
 
30
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Telecommunications (cont’d.)
     
Intelsat Jackson Holdings SA (Luxembourg),
Sr. Sec’d. Notes, 144A(aa) 		6.500 % 03/15/30   1,815  $1,737,863
Level 3 Financing, Inc.,          
Sec’d. Notes, 144A 4.000 04/15/31   400 218,762
Sec’d. Notes, 144A 4.500 04/01/30   1,555 900,486
Sec’d. Notes, 144A 4.875 06/15/29   400 253,109
Sr. Sec’d. Notes, 144A 10.500 04/15/29   75 75,147
Sr. Sec’d. Notes, 144A 10.500 05/15/30   703 702,391
Sr. Sec’d. Notes, 144A(aa) 11.000 11/15/29   3,233 3,297,150
Sprint Capital Corp.,          
Gtd. Notes 6.875 11/15/28   700 733,630
Gtd. Notes 8.750 03/15/32   706 833,617
Sprint LLC,          
Gtd. Notes 7.125 06/15/24   250 250,276
Gtd. Notes(aa) 7.625 02/15/25   2,725 2,748,666
     
 
Viasat, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		5.625 09/15/25   3,200 3,075,679
          22,385,747
Transportation 0.5%
GN Bondco LLC,
Sr. Sec’d. Notes, 144A 		9.500 10/15/31   1,500 1,440,030
RXO, Inc.,
Gtd. Notes, 144A 		7.500 11/15/27   325 330,063
XPO, Inc.,          
Gtd. Notes, 144A 7.125 06/01/31   150 150,766
Gtd. Notes, 144A 7.125 02/01/32   345 347,121
          2,267,980
     
 
Total Corporate Bonds
(cost $528,953,510) 		482,755,535
31
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans 5.3%
Auto Parts & Equipment 0.2%
First Brands Group LLC,
2022-Ii Incremental Term Loan, 3 Month SOFR + 5.000% 		10.574 %(c) 03/30/27   320  $305,867
Tenneco, Inc.,
Term A Loan, 3 Month SOFR + 4.850% 		10.169(c) 11/17/28   497 480,069
          785,936
Chemicals 0.7%
Chemours Company (The),
Tanche B-3 (USD) Term Loan, 1 Month SOFR + 3.500% 		8.816(c) 08/18/28   723 721,827
Consolidated Energy Finance SA (Switzerland),
2024 Incremental Term Loan, 1 Month SOFR + 4.500% 		9.816(c) 11/15/30   1,025 991,047
Iris Holdings Ltd.,
Initial Term Loan, 3 Month SOFR + 4.850% 		10.180(c) 06/28/28   448 428,243
Venator Finance Sarl,          
Initial First-Out Term Loan, 3 Month SOFR + 8.000%^ 15.328(c) 12/31/25   273 273,384
Term Loan, 3 Month SOFR + 10.000% 15.299(c) 10/12/28   687 659,837
          3,074,338
Commercial Services 0.0%
Fly Funding II Sarl (Luxembourg),
Term B Loan, 3 Month LIBOR + 1.750% 		7.330(c) 08/11/25   100 97,250
Computers 0.5%
McAfee Corp.,
Tranche B-1 Term Loan, 1 Month SOFR + 3.850% 		9.177(c) 03/01/29   1,348 1,347,370
NCR Atleos LLC,
Term B Loan, 3 Month SOFR + 4.850% 		10.173(c) 03/27/29   1,096 1,101,631
          2,449,001
Electric 0.1%
Heritage Power LLC,
Term Loan, 3 Month SOFR + 5.500%^ 		10.814(c) 07/20/28   220 215,958
32
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans (Continued)
Holding Companies-Diversified 0.0%
Clue OpCo LLC,
Term B Loan, 3 Month SOFR + 4.500% 		9.830 %(c) 12/19/30   179  $174,591
Housewares 0.2%
SWF Holdings I Corp.,
Initial Term Loan, 1 Month SOFR + 4.114% 		9.430(c) 10/06/28   995 839,416
Insurance 0.4%
Acrisure LLC,          
2021-1 Additional Term Loan, 1 Month LIBOR + 3.750% 9.180(c) 02/15/27   470 470,569
Term B Loan 2020, 1 Month LIBOR + 3.500% 8.930(c) 02/15/27   297 296,119
     
 
Asurion LLC,
New B-4 Term Loan, 1 Month SOFR + 5.364% 		10.680(c) 01/20/29   1,080 969,300
          1,735,988
Investment Companies 0.2%
Hurricane CleanCo Ltd. (United Kingdom),
Facility A, 3 Month EURIBOR + 6.250%^ 		6.250(c) 10/31/29 EUR 752 939,249
Media 0.9%
Altice Financing SA (Luxembourg),
2022 Dollar Loan, 3 Month SOFR + 5.000% 		10.329(c) 10/31/27   200 180,579
CSC Holdings LLC,
2022 Refinancing Term Loan, 1 Month SOFR + 4.500% 		9.821(c) 01/18/28   1,481 1,427,246
Diamond Sports Group LLC,          
Dip Term Loan 5.000 11/30/24   941 1,491,911
First Lien Term Loan, 1 Month SOFR + 10.100% 15.429(c) 05/25/26   195 183,758
Second Lien Term Loan 8.175 08/24/26   3,201 74,425
     
 
Radiate Holdco LLC,
Amendment No. 6 Term Loan, 1 Month SOFR + 3.364% 		8.680(c) 09/25/26   581 464,118
Univision Communications, Inc.,
2021 Replacement Term Loan, 1 Month SOFR + 3.364% 		8.680(c) 03/15/26   431 430,438
          4,252,475
33
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans (Continued)
Metal Fabricate/Hardware 0.5%
Doncasters US Finance LLC,
Initial Term Loan, 3 Month SOFR + 6.500% 		11.826 %(c) 04/23/30   2,145  $2,123,550
Mining 0.2%
Rain Carbon GmbH (Germany),
2023 Replacement Term Loan, 3 Month EURIBOR + 5.000% 		8.915(c) 10/31/28 EUR 1,034 1,088,905
Retail 0.2%
Great Outdoors Group LLC,
Term B-2 Loan, 1 Month SOFR + 3.864% 		9.180(c) 03/06/28   935 934,482
Software 0.6%
athenahealth, Inc.,
Initial Term Loan, 1 Month SOFR + 3.250% 		8.566(c) 02/15/29   175 174,088
Boxer Parent Co., Inc.,
2028 Extended Dollar Term Loan, 1 Month SOFR + 4.250% 		9.566(c) 12/29/28   219 220,461
Cotiviti, Inc.,
Term Loan, 1 Month SOFR + 3.500% 		7.500(c) 05/01/31   1,325 1,327,209
Skillsoft Finance II, Inc.,
Initial Term Loan, 1 Month SOFR + 5.364% 		10.680(c) 07/14/28   1,043 822,264
          2,544,022
Telecommunications 0.6%
Connect Finco SARL (United Kingdom),
Amendment No. 4 Term Loan, 1 Month SOFR + 4.500% 		9.816(c) 09/27/29   1,250 1,211,459
Digicel International Finance, Ltd. (Jamaica),
Initial Term Loan, 3 Month SOFR + 6.750% 		12.075(c) 05/29/27   178 168,364
Level 3 Financing, Inc.,          
Term B-1, 1 Month SOFR + 6.560% 11.875(c) 04/15/29   441 432,892
Term B-2, 1 Month SOFR + 6.560% 11.875(c) 04/15/30   444 434,125
Lumen Technologies, Inc.,          
Term B-1 Loan, 1 Month SOFR + 2.464% 7.780(c) 04/15/29   13 8,951
Term B-2 Loan, 1 Month SOFR + 2.464% 7.780(c) 04/15/30   13 8,876
Term Loan —(p) 06/01/28   73 61,551
MLN US HoldCo LLC,          
3L Term B Loan, 3 Month SOFR + 9.350% 14.677(c) 10/18/27   4 400
34
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans (Continued)
Telecommunications (cont’d.)
MLN US HoldCo LLC, (cont’d.)          
Initial Term Loan, 3 Month SOFR + 6.540% 11.867 %(c) 10/18/27   25  $13,867
Initial Term Loan (Second Out (First Lien Roll-Up)), 3 Month SOFR + 6.800% 12.127(c) 10/18/27   57 8,541
Xplornet Communications, Inc. (Canada),          
First Lien Refinancing Term Loan, 3 Month SOFR + 4.262% 9.571(c) 10/02/28(d)   1,946 334,107
Initial Term Loan- Second Lien, 3 Month SOFR + 7.262% 12.564(c) 10/01/29(d)   1,055 87,565
          2,770,698
     
 
Total Floating Rate and Other Loans
(cost $26,618,521) 		24,025,859
    
      Shares  
Common Stocks 2.3%
Chemicals 1.0%
Cornerstone Chemical Co. (original cost $833,150; purchased 12/06/23)*^(f)       43,850 833,150
TPC Group, Inc.*^       67,793 2,372,755
Venator Materials PLC (original cost $4,596,226; purchased 03/08/19 - 10/19/23)*(f)       2,297 1,489,211
          4,695,116
Electric Utilities 0.0%
GenOn Energy Holdings, Inc. (Class A Stock)*^       9,187 165,366
Keycon Power Holdings LLC*^       2,600 —
          165,366
Gas Utilities 0.3%
Ferrellgas Partners LP (Class B Stock) (original cost $2,052,750; purchased 05/06/15 - 09/19/19)(f)       7,475 1,244,636
Hotels, Restaurants & Leisure 0.1%
CEC Entertainment, Inc.*       22,321 401,778
35
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description     Shares Value
Common Stocks (Continued)
Oil, Gas & Consumable Fuels 0.3%
Chesapeake Energy Corp.       6,253  $562,020
Heritage Power LLC*^       30,465 578,835
Heritage Power LLC*^       1,340 25,460
Heritage Power LLC*^       35,061 17,530
          1,183,845
Wireless Telecommunication Services 0.6%
Digicel International Finance Ltd. (Jamaica) (original cost $336,102; purchased 01/29/24 - 02/08/24)*^(f)       276,054 593,516
Intelsat Emergence SA (Luxembourg)*       59,619 2,183,576
          2,777,092
     
 
Total Common Stocks
(cost $10,395,795) 		10,467,833
Preferred Stocks 0.7%
Electronic Equipment, Instruments & Components 0.6%
Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31 (original cost $2,635,000; purchased 03/29/21 - 07/08/22)^(f)       2,625 2,625,000
Wireless Telecommunication Services 0.1%
Digicel International Finance Ltd. (Jamaica) (original cost $390,940; purchased 01/26/24 - 01/29/24)*^(f)       50,740 522,703
     
 
Total Preferred Stocks
(cost $2,962,190) 		3,147,703
 
Total Long-Term Investments
(cost $601,853,621) 		553,625,165
    
36
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description     Shares Value
Short-Term Investment 1.9%
Affiliated Mutual Fund           
PGIM Core Government Money Market Fund (7-day effective yield 5.540%)
(cost $8,519,746)(wb) 		    8,519,746  $8,519,746
 
TOTAL INVESTMENTS 124.0%
(cost $610,373,367) 		562,144,911
Liabilities in excess of other assets(z) (24.0)% (108,924,682)
 
Net Assets 100.0% $453,220,229
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
    
  EUR—Euro
  GBP—British Pound
  USD—US Dollar
    
  144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.
  BARC—Barclays Bank PLC
  BOA—Bank of America, N.A.
  CDX—Credit Derivative Index
  CITI—Citibank, N.A.
  CLO—Collateralized Loan Obligation
  DAC—Designated Activity Company
  EURIBOR—Euro Interbank Offered Rate
  GSI—Goldman Sachs International
  iBoxx—Bond Market Indices
  LIBOR—London Interbank Offered Rate
  LP—Limited Partnership
  MSI—Morgan Stanley & Co International PLC
  OTC—Over-the-counter
  PIK—Payment-in-Kind
  Q—Quarterly payment frequency for swaps
  REITs—Real Estate Investment Trust
  SOFR—Secured Overnight Financing Rate
  SSB—State Street Bank & Trust Company
  T—Swap payment upon termination
    
* Non-income producing security.
# Principal or notional amount is shown in U.S. dollars unless otherwise stated.
^ Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $9,993,001 and 2.2% of net assets.
(aa) Represents security, or a portion thereof, with aggregate value of $164,162,319 segregated as collateral for amount of $120,000,000 borrowed and outstanding as of April 30, 2024.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at April 30, 2024.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of April 30, 2024. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
37
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.
(f) Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $23,925,061. The aggregate value of $12,468,975 is 2.8% of net assets.
(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.
(oo) Perpetual security. Maturity date represents next call date.
(p) Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end.
(r) Principal or notional amount is less than $500 par.
(wb) Represents an investment in a Fund affiliated with the Manager.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
Unfunded loan commitment outstanding at April 30, 2024:
Borrower   Principal
Amount
(000)# 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
Doncasters US Finance LLC, Delayed Draw Term Loan, 1 Month SOFR + 6.500%, 1.500%(c), Maturity Date 04/23/30 (cost $212,091)    215   $212,355   $264   $—
Forward foreign currency exchange contracts outstanding at April 30, 2024:
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
British Pound,
Expiring 05/02/24   CITI   GBP 722    $898,297    $902,386    $4,089    $—
Euro,
Expiring 05/02/24   SSB   EUR 3,423   3,659,840   3,653,449   —   (6,391)
              $4,558,137   $4,555,835   4,089   (6,391)
    
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
British Pound,
Expiring 05/02/24   BOA   GBP 722    $906,168    $902,386    $3,782    $—
Expiring 06/04/24   CITI   GBP 722   898,447   902,543   —   (4,096)
Euro,
Expiring 05/02/24   BOA   EUR 818   889,202   873,452   15,750   —
Expiring 05/02/24   MSI   EUR 172   186,541   183,278   3,263   —
38
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Forward foreign currency exchange contracts outstanding at April 30, 2024 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Euro (cont’d.),
Expiring 05/02/24   SSB   EUR 2,433    $2,635,455    $2,596,719    $38,736    $—
Expiring 06/04/24   SSB   EUR 3,423   3,664,663   3,658,323   6,340   —
              $9,180,476   $9,116,701   67,871   (4,096)
                      $71,960   $(10,487)
Credit default swap agreement outstanding at April 30, 2024:
Reference
Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied Credit
Spread at
April 30,
2024(4) 		  Value at
Trade Date 		  Value at
April 30,
2024 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):
CDX.NA.HY.42.V1 06/20/29   5.000%(Q)     41,025   3.557%   $2,680,554   $2,649,842   $(30,712)
The Fund entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2) If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
39
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
(3) Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(4) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.
    
Total return swap agreements outstanding at April 30, 2024:
Reference Entity   Financing
Rate 		  Counterparty   Termination
Date 		  Long (Short)
Notional
Amount
(000)#(1) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation)(2)
OTC Total Return Swap Agreements:
iBoxx US Dollar Liquid High Yield Index(T)   1 Day SOFR(Q)/ 5.320%   BARC   06/20/24   4,000    $2,379    $—    $2,379
iBoxx US Dollar Liquid High Yield Index(T)   1 Day SOFR(Q)/ 5.320%   MSI   06/20/24   11,270   (116,326)   —   (116,326)
iBoxx US Dollar Liquid Investment Grade Index(T)   1 Day SOFR(Q)/ 5.320%   GSI   06/20/24   (5,254)   39,226   —   39,226
iBoxx US Dollar Liquid Investment Grade Index(T)   1 Day SOFR(Q)/ 5.320%   MSI   09/20/24   (5,380)   36,253   —   36,253
                    $(38,468)   $—   $(38,468)
(1) On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate.
(2) Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
40