<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2008-02-13</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000837951</issuerCik>
        <issuerName>PACHOLDER HIGH YIELD FUND INC</issuerName>
        <issuerTradingSymbol>PHF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001378766</rptOwnerCik>
            <rptOwnerName>Sanzone Joseph F</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>245 PARK AVE.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10167</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>No longer a reporting person</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>No longer associated with the Pacholder High Yield Fund.</remarks>

    <ownerSignature>
        <signatureName>Joni S. McCabe</signatureName>
        <signatureDate>2008-02-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
