PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Long-Term Investments 124.0%
Asset-Backed Securities 5.7%
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%) 		6.406 %(c) 07/15/30   2,070  $2,076,605
Battalion CLO Ltd. (Cayman Islands),
Series 2015-08A, Class A1R2, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) 		5.964(c) 07/18/30   837 839,580
BlueMountain CLO Ltd. (Cayman Islands),
Series 2016-02A, Class A1R2, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%) 		6.510(c) 08/20/32   3,000 3,002,069
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%) 		5.879(c) 04/17/31   1,325 1,326,911
HPS Loan Management Ltd. (Cayman Islands),
Series 13A-18, Class A1R, 144A, 3 Month SOFR + 1.130% (Cap N/A, Floor 1.130%) 		5.786(c) 10/15/30   3,310 3,312,317
Jamestown CLO Ltd. (Cayman Islands),
Series 2019-01A, Class A1R, 144A, 3 Month SOFR + 1.200% (Cap N/A, Floor 1.200%) 		5.817(c) 04/20/32   4,149 4,151,104
KKR CLO Ltd. (Cayman Islands),
Series 11, Class AR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%) 		6.098(c) 01/15/31   986 987,125
Madison Park Funding Ltd. (Cayman Islands),
Series 2015-18A, Class ARR, 144A, 3 Month SOFR + 1.202% (Cap N/A, Floor 0.940%) 		5.819(c) 10/21/30   1,990 1,994,818
OFSI BSL Ltd. (Cayman Islands),
Series 2023-12A, Class A1, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%) 		7.017(c) 01/20/35   2,250 2,253,491
Saratoga Investment Corp. CLO Ltd. (Cayman Islands),
Series 2013-01A, Class A1R4, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) 		5.917(c) 04/20/33   1,069 1,070,907
Shackleton CLO Ltd. (Cayman Islands),
Series 2017-11A, Class AR, 144A, 3 Month SOFR + 1.352% (Cap N/A, Floor 0.262%) 		6.470(c) 08/15/30   459 459,245
TICP CLO Ltd. (Cayman Islands),
Series 2017-07A, Class ASR2, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) 		5.947(c) 04/15/33   4,750 4,750,670
1
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Asset-Backed Securities (Continued)
Collateralized Loan Obligations (cont’d.)
Voya CLO Ltd. (Cayman Islands),
Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) 		5.857 %(c) 04/25/31   521  $521,245
     
 
Total Asset-Backed Securities
(cost $26,580,814) 		26,746,087
Corporate Bonds 104.1%
Advertising 0.7%
Clear Channel Outdoor Holdings, Inc.,          
Sr. Sec’d. Notes, 144A 5.125 08/15/27   1,887 1,833,227
Sr. Sec’d. Notes, 144A 9.000 09/15/28   175 183,868
     
 
CMG Media Corp.,
Gtd. Notes, 144A 		8.875 12/15/27   1,640 1,196,007
          3,213,102
Aerospace & Defense 2.6%
Boeing Co. (The),          
Sr. Unsec’d. Notes(aa) 5.805 05/01/50   865 815,904
Sr. Unsec’d. Notes 5.930 05/01/60   500 467,165
Bombardier, Inc. (Canada),          
Sr. Unsec’d. Notes, 144A(aa) 6.000 02/15/28   1,500 1,493,010
Sr. Unsec’d. Notes, 144A 7.000 06/01/32   290 296,255
Sr. Unsec’d. Notes, 144A 7.125 06/15/26   223 225,509
Sr. Unsec’d. Notes, 144A 7.250 07/01/31   455 468,650
Sr. Unsec’d. Notes, 144A 7.500 02/01/29   1,000 1,040,780
Sr. Unsec’d. Notes, 144A(aa) 7.875 04/15/27   1,501 1,502,876
Sr. Unsec’d. Notes, 144A 8.750 11/15/30   940 1,016,375
TransDigm, Inc.,          
Gtd. Notes 4.625 01/15/29   600 569,900
Gtd. Notes(aa) 5.500 11/15/27   1,825 1,810,198
Sr. Sec’d. Notes, 144A 6.000 01/15/33   750 743,374
Sr. Sec’d. Notes, 144A 6.375 03/01/29   1,080 1,096,291
Sr. Sec’d. Notes, 144A 6.625 03/01/32   835 849,540
          12,395,827
2
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Airlines 1.3%
American Airlines, Inc.,
Sr. Sec’d. Notes, 144A 		7.250 % 02/15/28   350  $355,800
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,          
Sr. Sec’d. Notes, 144A(aa) 5.500 04/20/26   575 573,562
Sr. Sec’d. Notes, 144A(aa) 5.750 04/20/29   1,425 1,409,710
United Airlines, Inc.,          
Sr. Sec’d. Notes, 144A 4.375 04/15/26   1,080 1,061,103
Sr. Sec’d. Notes, 144A 4.625 04/15/29   830 794,779
VistaJet Malta Finance PLC/Vista Management Holding,
Inc. (Switzerland), 		         
Sr. Unsec’d. Notes, 144A 6.375 02/01/30   750 641,250
Sr. Unsec’d. Notes, 144A 7.875 05/01/27   780 757,333
Sr. Unsec’d. Notes, 144A 9.500 06/01/28   645 633,874
          6,227,411
Apparel 0.4%
Kontoor Brands, Inc.,
Gtd. Notes, 144A 		4.125 11/15/29   575 535,366
Wolverine World Wide, Inc.,
Gtd. Notes, 144A(aa) 		4.000 08/15/29   1,750 1,496,169
          2,031,535
Auto Manufacturers 0.9%
Ford Motor Co.,          
Sr. Unsec’d. Notes 3.250 02/12/32   538 450,512
Sr. Unsec’d. Notes 4.750 01/15/43   225 181,857
Sr. Unsec’d. Notes 7.400 11/01/46   100 106,840
     
 
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes 		3.375 11/13/25   725 711,126
Jaguar Land Rover Automotive PLC (United Kingdom),
Gtd. Notes, 144A 		7.750 10/15/25   800 796,360
JB Poindexter & Co., Inc.,
Sr. Unsec’d. Notes, 144A 		8.750 12/15/31   575 603,535
PM General Purchaser LLC,
Sr. Sec’d. Notes, 144A 		9.500 10/01/28   1,350 1,369,698
          4,219,928
3
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Auto Parts & Equipment 1.8%
Adient Global Holdings Ltd.,          
Gtd. Notes, 144A 4.875 % 08/15/26   1,611  $1,582,147
Sr. Sec’d. Notes, 144A 7.000 04/15/28   400 405,500
American Axle & Manufacturing, Inc.,          
Gtd. Notes 6.250 03/15/26   71 70,749
Gtd. Notes 6.500 04/01/27   256 254,658
     
 
Clarios Global LP/Clarios US Finance Co.,
Gtd. Notes, 144A 		8.500 05/15/27   375 376,406
Dana Financing Luxembourg Sarl,
Gtd. Notes, 144A 		5.750 04/15/25   250 249,075
Dana, Inc.,          
Sr. Unsec’d. Notes 4.250 09/01/30   150 130,838
Sr. Unsec’d. Notes 4.500 02/15/32   100 85,487
Sr. Unsec’d. Notes 5.375 11/15/27   200 195,636
Sr. Unsec’d. Notes 5.625 06/15/28   600 582,285
     
 
Garrett Motion Holdings, Inc./Garrett LX I Sarl,
Gtd. Notes, 144A 		7.750 05/31/32   785 783,250
Phinia, Inc.,          
Gtd. Notes, 144A 6.625 10/15/32   275 274,283
Sr. Sec’d. Notes, 144A 6.750 04/15/29   265 270,948
     
 
Tenneco, Inc.,
Sr. Sec’d. Notes, 144A(aa) 		8.000 11/17/28   2,650 2,452,054
Titan International, Inc.,
Sr. Sec’d. Notes 		7.000 04/30/28   925 896,349
          8,609,665
Banks 1.2%
Citigroup, Inc.,
Jr. Sub. Notes, Series X 		3.875(ff) 02/18/26(oo)   1,000 966,836
Freedom Mortgage Corp.,          
Sr. Unsec’d. Notes, 144A(aa) 6.625 01/15/27   1,525 1,507,521
Sr. Unsec’d. Notes, 144A 7.625 05/01/26   550 552,039
Sr. Unsec’d. Notes, 144A 12.000 10/01/28   75 81,070
Sr. Unsec’d. Notes, 144A 12.250 10/01/30   325 357,961
     
 
4
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Banks (cont’d.)
     
Intesa Sanpaolo SpA (Italy),
Sub. Notes, 144A 		4.198 %(ff) 06/01/32   2,200  $1,926,852
Wells Fargo & Co.,
Jr. Sub. Notes 		6.850(ff) 09/15/29(oo)   200 206,821
          5,599,100
Building Materials 2.1%
Builders FirstSource, Inc.,
Gtd. Notes, 144A 		5.000 03/01/30   140 134,055
Camelot Return Merger Sub, Inc.,
Sr. Sec’d. Notes, 144A 		8.750 08/01/28   650 653,559
Cornerstone Building Brands, Inc.,
Gtd. Notes, 144A(aa) 		6.125 01/15/29   890 795,013
Eco Material Technologies, Inc.,
Sr. Sec’d. Notes, 144A 		7.875 01/31/27   920 926,095
EMRLD Borrower LP/Emerald Co-Issuer, Inc.,
Sr. Sec’d. Notes, 144A 		6.750 07/15/31   275 281,312
Griffon Corp.,
Gtd. Notes 		5.750 03/01/28   430 422,199
Knife River Corp.,
Sr. Unsec’d. Notes, 144A 		7.750 05/01/31   140 146,740
Masterbrand, Inc.,
Gtd. Notes, 144A 		7.000 07/15/32   265 271,446
Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC,
Sr. Sec’d. Notes, 144A 		6.750 04/01/32   221 225,289
MIWD Holdco II LLC/MIWD Finance Corp.,
Gtd. Notes, 144A 		5.500 02/01/30   982 937,795
Smyrna Ready Mix Concrete LLC,          
Sr. Sec’d. Notes, 144A 6.000 11/01/28   1,123 1,114,430
Sr. Sec’d. Notes, 144A 8.875 11/15/31   555 583,270
Standard Industries, Inc.,          
Sr. Unsec’d. Notes, 144A 3.375 01/15/31   350 303,909
Sr. Unsec’d. Notes, 144A(aa) 4.375 07/15/30   1,250 1,150,302
Sr. Unsec’d. Notes, 144A 4.750 01/15/28   1,400 1,350,092
Sr. Unsec’d. Notes, 144A 5.000 02/15/27   425 416,333
Sr. Unsec’d. Notes, 144A 6.500 08/15/32   280 281,858
          9,993,697
5
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Chemicals 1.8%
Ashland, Inc.,
Sr. Unsec’d. Notes(aa) 		6.875 % 05/15/43   2,125  $2,245,447
ASP Unifrax Holdings, Inc.,
Sec’d. Notes, 144A, Cash coupon 5.850% and PIK 1.250% or Cash coupon 7.100% 		7.100 09/30/29   344 204,205
Avient Corp.,
Sr. Unsec’d. Notes, 144A 		6.250 11/01/31   165 165,798
Cornerstone Chemical Co. LLC,
Sr. Sec’d. Notes, 144A, Cash coupon 5.000% and PIK 10.000%^ 		15.000 12/06/28   815 774,468
Olympus Water US Holding Corp.,          
Sr. Sec’d. Notes, 144A 4.250 10/01/28   625 588,696
Sr. Sec’d. Notes, 144A 7.250 06/15/31   420 430,935
Sr. Sec’d. Notes, 144A 9.750 11/15/28   1,125 1,193,918
Sr. Unsec’d. Notes, 144A 6.250 10/01/29   400 384,833
     
 
SK Invictus Intermediate II Sarl,
Sr. Sec’d. Notes, 144A 		5.000 10/30/29   645 611,086
SNF Group SACA (France),
Sr. Unsec’d. Notes, 144A 		3.375 03/15/30   450 402,187
TPC Group, Inc.,
Sr. Sec’d. Notes, 144A (original cost $863,704; purchased 12/15/22 - 05/16/23)(f) 		13.000 12/16/27   865 873,847
Tronox, Inc.,
Gtd. Notes, 144A 		4.625 03/15/29   515 466,834
WR Grace Holdings LLC,
Sr. Sec’d. Notes, 144A 		7.375 03/01/31   175 180,638
          8,522,892
Coal 0.3%
Conuma Resources Ltd. (Canada),
Sr. Sec’d. Notes, 144A 		13.125 05/01/28   718 734,155
Coronado Finance Pty Ltd. (Australia),
Sr. Sec’d. Notes, 144A 		9.250 10/01/29   605 618,752
          1,352,907
Commercial Services 6.0%
Adtalem Global Education, Inc.,
Sr. Sec’d. Notes, 144A 		5.500 03/01/28   334 327,356
6
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Commercial Services (cont’d.)
Allied Universal Holdco LLC,
Sr. Sec’d. Notes, 144A 		7.875 % 02/15/31   1,015  $1,033,282
Allied Universal Holdco LLC/Allied Universal Finance
Corp., 		         
Sr. Unsec’d. Notes, 144A(aa) 6.000 06/01/29   1,350 1,235,388
Sr. Unsec’d. Notes, 144A(aa) 9.750 07/15/27   3,875 3,883,566
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 Sarl, 		         
Sr. Sec’d. Notes, 144A 4.625 06/01/28   860 803,679
Sr. Sec’d. Notes, 144A 4.625 06/01/28   1,315 1,226,632
     
 
Alta Equipment Group, Inc.,
Sec’d. Notes, 144A 		9.000 06/01/29   640 568,742
AMN Healthcare, Inc.,          
Gtd. Notes, 144A 4.000 04/15/29   1,325 1,221,852
Gtd. Notes, 144A 4.625 10/01/27   400 385,592
     
 
APi Group DE, Inc.,
Gtd. Notes, 144A 		4.750 10/15/29   325 308,303
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.,
Gtd. Notes, 144A(aa) 		4.750 04/01/28   1,295 1,215,979
Belron UK Finance PLC (United Kingdom),
Sr. Sec’d. Notes, 144A 		5.750 10/15/29   200 200,402
Boost Newco Borrower LLC,
Sr. Sec’d. Notes, 144A 		7.500 01/15/31   450 474,503
Brink’s Co. (The),          
Gtd. Notes, 144A 4.625 10/15/27   300 291,397
Gtd. Notes, 144A 6.500 06/15/29   125 127,716
     
 
Dcli Bidco LLC,
Second Mortgage, 144A 		7.750 11/15/29   505 513,620
Herc Holdings, Inc.,          
Gtd. Notes, 144A 5.500 07/15/27   441 437,549
Gtd. Notes, 144A 6.625 06/15/29   405 414,597
Hertz Corp. (The),          
Gtd. Notes, 144A 4.625 12/01/26   475 358,603
Gtd. Notes, 144A 5.000 12/01/29   270 174,847
     
 
Mavis Tire Express Services Topco Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		6.500 05/15/29   2,700 2,585,746
NESCO Holdings II, Inc.,
Sec’d. Notes, 144A 		5.500 04/15/29   875 814,301
Service Corp. International,          
Sr. Unsec’d. Notes 3.375 08/15/30   1,457 1,288,296
7
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Commercial Services (cont’d.)
Service Corp. International, (cont’d.)          
Sr. Unsec’d. Notes 5.750 % 10/15/32   470   $462,552
     
 
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc.,
Gtd. Notes, 144A 		6.750 08/15/32   350 359,044
United Rentals North America, Inc.,          
Gtd. Notes 3.750 01/15/32   575 509,919
Gtd. Notes 4.000 07/15/30   150 138,434
Gtd. Notes(aa) 4.875 01/15/28   5,720 5,594,113
     
 
Valvoline, Inc.,
Sr. Unsec’d. Notes, 144A 		3.625 06/15/31   475 411,828
VT Topco, Inc.,
Sr. Sec’d. Notes, 144A 		8.500 08/15/30   350 368,268
Williams Scotsman, Inc.,
Sr. Sec’d. Notes, 144A 		6.625 06/15/29   255 258,938
          27,995,044
Computers 1.1%
Amentum Holdings, Inc.,
Gtd. Notes, 144A 		7.250 08/01/32   355 367,991
CA Magnum Holdings (India),
Sr. Sec’d. Notes, 144A 		5.375 10/31/26   225 220,781
Fortress Intermediate 3, Inc.,
Sr. Sec’d. Notes, 144A 		7.500 06/01/31   575 597,956
Gartner, Inc.,          
Gtd. Notes, 144A 3.625 06/15/29   425 396,744
Gtd. Notes, 144A 3.750 10/01/30   325 298,769
     
 
McAfee Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		7.375 02/15/30   2,055 1,983,088
NCR Voyix Corp.,          
Gtd. Notes, 144A 5.000 10/01/28   1,100 1,057,300
Gtd. Notes, 144A 5.125 04/15/29   124 118,352
          5,040,981
Cosmetics/Personal Care 0.1%
Perrigo Finance Unlimited Co.,
Gtd. Notes 		6.125 09/30/32   555 545,010
8
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Distribution/Wholesale 0.7%
H&E Equipment Services, Inc.,
Gtd. Notes, 144A(aa) 		3.875 % 12/15/28   2,250  $2,078,542
Ritchie Bros Holdings, Inc. (Canada),          
Gtd. Notes, 144A 7.750 03/15/31   220 232,100
Sr. Sec’d. Notes, 144A 6.750 03/15/28   150 153,375
     
 
Velocity Vehicle Group LLC,
Sr. Unsec’d. Notes, 144A 		8.000 06/01/29   190 195,409
Windsor Holdings III LLC,
Sr. Sec’d. Notes, 144A 		8.500 06/15/30   750 789,656
          3,449,082
Diversified Financial Services 5.5%
Azorra Finance Ltd. (Cayman Islands),
Gtd. Notes, 144A 		7.750 04/15/30   390 385,357
Bread Financial Holdings, Inc.,
Gtd. Notes, 144A 		9.750 03/15/29   990 1,044,546
Encore Capital Group, Inc.,
Sr. Sec’d. Notes, 144A 		8.500 05/15/30   200 210,845
Freedom Mortgage Holdings LLC,          
Sr. Unsec’d. Notes, 144A 9.125 05/15/31   440 448,065
Sr. Unsec’d. Notes, 144A 9.250 02/01/29   275 281,947
GGAM Finance Ltd. (Ireland),          
Gtd. Notes, 144A 6.875 04/15/29   130 132,437
Gtd. Notes, 144A 8.000 02/15/27   425 437,533
Sr. Unsec’d. Notes, 144A 5.875 03/15/30   190 187,387
Sr. Unsec’d. Notes, 144A 8.000 06/15/28   575 604,417
goeasy Ltd. (Canada),          
Gtd. Notes, 144A 4.375 05/01/26   525 521,719
Gtd. Notes, 144A 6.875 05/15/30   370 372,775
Gtd. Notes, 144A 9.250 12/01/28   105 111,545
Sr. Unsec’d. Notes, 144A 7.625 07/01/29   265 271,241
     
 
Intercontinental Exchange, Inc.,
Sr. Unsec’d. Notes 		3.625 09/01/28   1,158 1,113,928
Jefferies Finance LLC/JFIN Co-Issuer Corp.,          
Sr. Sec’d. Notes, 144A 6.625 10/15/31   400 397,990
Sr. Unsec’d. Notes, 144A 5.000 08/15/28   325 300,000
     
 
LD Holdings Group LLC,
Gtd. Notes, 144A 		6.125 04/01/28   475 410,354
9
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Diversified Financial Services (cont’d.)
Macquarie Airfinance Holdings Ltd. (United Kingdom),          
Sr. Unsec’d. Notes, 144A 6.400 % 03/26/29   150  $154,729
Sr. Unsec’d. Notes, 144A 6.500 03/26/31   405 420,088
Sr. Unsec’d. Notes, 144A 8.125 03/30/29   800 845,603
Sr. Unsec’d. Notes, 144A 8.375 05/01/28   75 78,675
Nationstar Mortgage Holdings, Inc.,          
Gtd. Notes, 144A 5.125 12/15/30   1,075 1,007,205
Gtd. Notes, 144A(aa) 5.500 08/15/28   2,420 2,364,393
Gtd. Notes, 144A 5.750 11/15/31   360 344,723
Gtd. Notes, 144A(aa) 6.000 01/15/27   1,725 1,718,321
Gtd. Notes, 144A 6.500 08/01/29   300 300,221
Navient Corp.,          
Sr. Unsec’d. Notes(aa) 5.500 03/15/29   1,325 1,262,189
Sr. Unsec’d. Notes 9.375 07/25/30   175 189,809
OneMain Finance Corp.,          
Gtd. Notes 3.875 09/15/28   500 461,542
Gtd. Notes 4.000 09/15/30   300 264,062
Gtd. Notes 6.625 05/15/29   400 400,000
Gtd. Notes(aa) 7.125 03/15/26   3,748 3,839,826
PennyMac Financial Services, Inc.,          
Gtd. Notes, 144A 4.250 02/15/29   700 653,328
Gtd. Notes, 144A 5.375 10/15/25   800 796,736
Gtd. Notes, 144A 5.750 09/15/31   275 263,036
Gtd. Notes, 144A 7.125 11/15/30   300 304,494
Gtd. Notes, 144A 7.875 12/15/29   100 104,889
     
 
PHH Escrow Issuer LLC,
Sr. Unsec’d. Notes, 144A 		9.875 11/01/29   435 426,309
PRA Group, Inc.,
Gtd. Notes, 144A 		8.875 01/31/30   270 280,286
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.,          
Gtd. Notes, 144A 3.625 03/01/29   200 184,324
Gtd. Notes, 144A 3.875 03/01/31   375 333,764
Gtd. Notes, 144A(aa) 4.000 10/15/33   1,675 1,442,838
          25,673,476
Electric 5.2%
Calpine Corp.,          
Sr. Sec’d. Notes, 144A 3.750 03/01/31   50 45,052
Sr. Sec’d. Notes, 144A 4.500 02/15/28   375 361,208
10
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Electric (cont’d.)
Calpine Corp., (cont’d.)          
Sr. Unsec’d. Notes, 144A(aa) 4.625 % 02/01/29   2,025  $1,923,384
Sr. Unsec’d. Notes, 144A 5.000 02/01/31   875 825,788
Sr. Unsec’d. Notes, 144A(aa) 5.125 03/15/28   5,524 5,402,080
     
 
Keystone Power Pass-Through Holders LLC/Conemaugh Power Pass-Through Holders,
Sub. Notes, 144A, Cash coupon 1.000% and PIK 12.000% 		13.000 06/01/28   146 122,682
NRG Energy, Inc.,          
Gtd. Notes(aa) 5.750 01/15/28   2,975 2,979,235
Gtd. Notes, 144A 3.375 02/15/29   150 136,987
Gtd. Notes, 144A 3.625 02/15/31   325 287,844
Gtd. Notes, 144A 3.875 02/15/32   625 554,208
Gtd. Notes, 144A 5.250 06/15/29   650 635,262
Jr. Sub. Notes, 144A 10.250(ff) 03/15/28(oo)   1,050 1,159,390
     
 
PG&E Corp.,
Sr. Sec’d. Notes 		5.250 07/01/30   285 277,898
Vistra Corp.,          
Jr. Sub. Notes, 144A(aa) 7.000(ff) 12/15/26(oo)   1,725 1,741,713
Jr. Sub. Notes, 144A 8.000(ff) 10/15/26(oo)   375 385,656
Vistra Operations Co. LLC,          
Gtd. Notes, 144A 4.375 05/01/29   1,075 1,024,186
Gtd. Notes, 144A 5.000 07/31/27   375 370,284
Gtd. Notes, 144A 5.500 09/01/26   525 524,240
Gtd. Notes, 144A(aa) 5.625 02/15/27   5,250 5,236,145
Gtd. Notes, 144A 6.875 04/15/32   440 454,888
          24,448,130
Electrical Components & Equipment 0.6%
Energizer Gamma Acquisition BV,
Gtd. Notes 		3.500 06/30/29 EUR 100 102,903
Energizer Holdings, Inc.,          
Gtd. Notes, 144A 4.375 03/31/29   350 327,076
Gtd. Notes, 144A 4.750 06/15/28   350 336,760
     
 
EnerSys,
Gtd. Notes, 144A 		6.625 01/15/32   160 164,332
WESCO Distribution, Inc.,          
Gtd. Notes, 144A 6.375 03/15/29   420 428,393
11
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Electrical Components & Equipment (cont’d.)
WESCO Distribution, Inc., (cont’d.)          
Gtd. Notes, 144A 6.625 % 03/15/32   310  $317,834
Gtd. Notes, 144A(aa) 7.250 06/15/28   1,055 1,079,552
          2,756,850
Engineering & Construction 0.2%
Brand Industrial Services, Inc.,
Sr. Sec’d. Notes, 144A 		10.375 08/01/30   350 371,852
TopBuild Corp.,          
Gtd. Notes, 144A 3.625 03/15/29   350 320,566
Gtd. Notes, 144A 4.125 02/15/32   425 378,908
          1,071,326
Entertainment 2.9%
Caesars Entertainment, Inc.,          
Gtd. Notes, 144A(aa) 4.625 10/15/29   2,150 2,015,089
Sr. Sec’d. Notes, 144A 6.500 02/15/32   640 649,639
Sr. Sec’d. Notes, 144A(aa) 7.000 02/15/30   1,475 1,511,886
     
 
CCM Merger, Inc.,
Sr. Unsec’d. Notes, 144A 		6.375 05/01/26   275 274,153
Churchill Downs, Inc.,
Sr. Unsec’d. Notes, 144A 		5.750 04/01/30   1,075 1,057,975
Cinemark USA, Inc.,
Gtd. Notes, 144A 		7.000 08/01/32   215 220,557
International Game Technology PLC,
Sr. Sec’d. Notes, 144A 		6.250 01/15/27   350 352,044
Jacobs Entertainment, Inc.,          
Sr. Unsec’d. Notes, 144A 6.750 02/15/29   900 885,656
Sr. Unsec’d. Notes, 144A 6.750 02/15/29   400 390,513
     
 
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A 		4.875 05/01/29   1,025 968,135
Penn Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		5.625 01/15/27   2,080 2,042,011
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.,
Gtd. Notes, 144A 		5.875 09/01/31   800 518,486
12
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Entertainment (cont’d.)
     
Scientific Games Holdings LP/Scientific Games US FinCo, Inc.,
Sr. Unsec’d. Notes, 144A 		6.625 % 03/01/30   825  $803,799
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,          
Gtd. Notes, 144A(aa) 5.125 10/01/29   1,110 1,077,638
Gtd. Notes, 144A 6.250 03/15/33   445 443,028
Gtd. Notes, 144A 7.125 02/15/31   445 467,977
          13,678,586
Environmental Control 0.7%
GFL Environmental, Inc.,          
Gtd. Notes, 144A 4.000 08/01/28   275 259,900
Gtd. Notes, 144A(aa) 4.375 08/15/29   1,625 1,518,497
Gtd. Notes, 144A 4.750 06/15/29   50 47,882
Sr. Sec’d. Notes, 144A 6.750 01/15/31   380 391,058
Reworld Holding Corp.,          
Gtd. Notes 5.000 09/01/30   325 298,464
Gtd. Notes, 144A 4.875 12/01/29   820 764,663
     
 
Wrangler Holdco Corp. (Canada),
Gtd. Notes, 144A 		6.625 04/01/32   180 183,600
          3,464,064
Foods 2.1%
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC,
Gtd. Notes, 144A 		3.500 03/15/29   985 910,524
B&G Foods, Inc.,
Gtd. Notes(aa) 		5.250 09/15/27   2,950 2,861,963
Bellis Acquisition Co. PLC (United Kingdom),
Sr. Sec’d. Notes, 144A 		8.125 05/14/30 GBP 825 1,048,212
JBS USA Holding Lux Sarl/JBS USA Food Co./JBS Lux Co. Sarl,
Gtd. Notes 		3.750 12/01/31   525 469,112
Lamb Weston Holdings, Inc.,          
Gtd. Notes, 144A 4.125 01/31/30   225 208,894
Gtd. Notes, 144A 4.375 01/31/32   500 457,764
     
 
Pilgrim’s Pride Corp.,
Gtd. Notes 		3.500 03/01/32   375 328,358
13
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Foods (cont’d.)
Post Holdings, Inc.,          
Gtd. Notes, 144A 4.625 % 04/15/30   1,175  $1,098,718
Gtd. Notes, 144A 5.500 12/15/29   375 365,768
Gtd. Notes, 144A 6.375 03/01/33   380 376,283
Sr. Sec’d. Notes, 144A 6.250 02/15/32   255 258,175
Sr. Unsec’d. Notes, 144A 4.500 09/15/31   1,325 1,206,657
Sr. Unsec’d. Notes, 144A 6.250 10/15/34   230 227,360
     
 
US Foods, Inc.,
Gtd. Notes, 144A 		5.750 04/15/33   65 64,028
          9,881,816
Forest Products & Paper 0.1%
Glatfelter Corp.,
Sr. Sec’d. Notes, 144A 		7.250 11/15/31   645 639,525
Gas 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp.,          
Sr. Unsec’d. Notes 5.500 05/20/25   7 6,967
Sr. Unsec’d. Notes 5.750 05/20/27   415 400,143
Sr. Unsec’d. Notes 5.875 08/20/26   325 318,267
          725,377
Healthcare-Products 0.9%
Medline Borrower LP,
Sr. Sec’d. Notes, 144A(aa) 		3.875 04/01/29   4,725 4,422,853
Healthcare-Services 3.8%
DaVita, Inc.,          
Gtd. Notes, 144A(aa) 3.750 02/15/31   3,300 2,871,617
Gtd. Notes, 144A(aa) 4.625 06/01/30   2,475 2,276,596
Gtd. Notes, 144A 6.875 09/01/32   630 633,088
LifePoint Health, Inc.,          
Gtd. Notes, 144A 5.375 01/15/29   925 845,942
Sr. Sec’d. Notes, 144A 4.375 02/15/27   1,075 1,043,190
     
 
MPH Acquisition Holdings LLC,
Sr. Sec’d. Notes, 144A (original cost $1,890,020; purchased 08/17/21 - 02/21/23)(f) 		5.500 09/01/28   2,075 1,416,879
14
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Healthcare-Services (cont’d.)
     
Prime Healthcare Services, Inc.,
Sr. Sec’d. Notes, 144A 		9.375 % 09/01/29   200  $203,401
Tenet Healthcare Corp.,          
Sr. Sec’d. Notes(aa) 4.250 06/01/29   1,925 1,821,884
Sr. Sec’d. Notes(aa) 4.375 01/15/30   4,825 4,524,829
Sr. Unsec’d. Notes(aa) 6.875 11/15/31   2,025 2,170,761
          17,808,187
Home Builders 5.5%
Ashton Woods USA LLC/Ashton Woods Finance Co.,          
Sr. Unsec’d. Notes, 144A 4.625 08/01/29   975 911,139
Sr. Unsec’d. Notes, 144A 4.625 04/01/30   625 575,512
Beazer Homes USA, Inc.,          
Gtd. Notes 5.875 10/15/27   1,425 1,413,298
Gtd. Notes(aa) 7.250 10/15/29   1,975 2,007,413
Sr. Unsec’d. Notes, 144A 7.500 03/15/31   515 529,958
Brookfield Residential Properties, Inc./Brookfield
Residential US LLC (Canada), 		         
Gtd. Notes, 144A(aa) 4.875 02/15/30   2,175 2,017,313
Gtd. Notes, 144A 6.250 09/15/27   40 39,571
Sr. Unsec’d. Notes, 144A 5.000 06/15/29   600 563,250
     
 
Empire Communities Corp. (Canada),
Sr. Unsec’d. Notes, 144A 		9.750 05/01/29   545 567,214
Forestar Group, Inc.,          
Gtd. Notes, 144A 3.850 05/15/26   450 438,729
Gtd. Notes, 144A(aa) 5.000 03/01/28   1,200 1,146,705
KB Home,          
Gtd. Notes 4.800 11/15/29   1,000 959,926
Gtd. Notes 6.875 06/15/27   1,225 1,264,593
     
 
Landsea Homes Corp.,
Sr. Unsec’d. Notes, 144A 		8.875 04/01/29   845 864,718
Lennar Corp.,
Gtd. Notes(aa) 		5.000 06/15/27   1,250 1,257,318
M/I Homes, Inc.,          
Gtd. Notes 3.950 02/15/30   375 341,455
Gtd. Notes 4.950 02/01/28   450 435,105
Mattamy Group Corp. (Canada),          
Sr. Unsec’d. Notes, 144A(aa) 4.625 03/01/30   1,333 1,244,809
Sr. Unsec’d. Notes, 144A(aa) 5.250 12/15/27   1,075 1,054,844
15
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Home Builders (cont’d.)
     
 
Meritage Homes Corp.,
Gtd. Notes(aa) 		5.125 % 06/06/27   1,775  $1,776,240
New Home Co., Inc. (The),
Sr. Unsec’d. Notes, 144A 		9.250 10/01/29   325 340,614
Shea Homes LP/Shea Homes Funding Corp.,          
Sr. Unsec’d. Notes 4.750 02/15/28   1,043 995,826
Sr. Unsec’d. Notes 4.750 04/01/29   475 450,301
     
 
STL Holding Co. LLC,
Sr. Unsec’d. Notes, 144A 		8.750 02/15/29   610 648,095
Taylor Morrison Communities, Inc.,          
Gtd. Notes, 144A 5.750 01/15/28   450 449,881
Gtd. Notes, 144A 5.875 06/15/27   925 930,123
Sr. Unsec’d. Notes, 144A 5.125 08/01/30   830 804,232
     
 
Tri Pointe Homes, Inc.,
Gtd. Notes(aa) 		5.700 06/15/28   1,555 1,545,239
          25,573,421
Household Products/Wares 0.5%
ACCO Brands Corp.,
Gtd. Notes, 144A(aa) 		4.250 03/15/29   1,250 1,146,539
Kronos Acquisition Holdings, Inc. (Canada),          
Sr. Sec’d. Notes, 144A 8.250 06/30/31   245 241,756
Sr. Unsec’d. Notes, 144A 10.750 06/30/32   895 832,431
          2,220,726
Housewares 0.9%
Newell Brands, Inc.,          
Sr. Unsec’d. Notes 6.375 05/15/30   405 407,192
Sr. Unsec’d. Notes 6.625 05/15/32   225 225,812
Scotts Miracle-Gro Co. (The),          
Gtd. Notes 4.000 04/01/31   1,500 1,341,510
Gtd. Notes 4.375 02/01/32   1,200 1,083,250
     
 
SWF Holdings I Corp.,
Sr. Unsec’d. Notes, 144A (original cost $1,613,094; purchased 09/17/21 - 04/07/22)(f) 		6.500 10/01/29   1,675 1,095,068
          4,152,832
16
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Insurance 0.9%
Acrisure LLC/Acrisure Finance, Inc.,          
Sr. Sec’d. Notes, 144A 7.500 % 11/06/30   535  $543,359
Sr. Unsec’d. Notes, 144A 6.000 08/01/29   375 354,485
Sr. Unsec’d. Notes, 144A 8.250 02/01/29   1,105 1,123,245
Sr. Unsec’d. Notes, 144A 8.500 06/15/29   300 308,029
     
 
AmWINS Group, Inc.,
Sr. Unsec’d. Notes, 144A 		4.875 06/30/29   775 729,455
AssuredPartners, Inc.,
Sr. Unsec’d. Notes, 144A 		5.625 01/15/29   485 459,057
BroadStreet Partners, Inc.,
Sr. Unsec’d. Notes, 144A 		5.875 04/15/29   625 595,728
          4,113,358
Internet 1.4%
Cablevision Lightpath LLC,          
Sr. Sec’d. Notes, 144A(aa) 3.875 09/15/27   2,325 2,207,817
Sr. Unsec’d. Notes, 144A 5.625 09/15/28   625 581,124
     
 
Gen Digital, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		5.000 04/15/25   2,000 1,996,061
Go Daddy Operating Co. LLC/GD Finance Co., Inc.,          
Gtd. Notes, 144A 3.500 03/01/29   525 484,134
Gtd. Notes, 144A 5.250 12/01/27   1,165 1,150,706
          6,419,842
Iron/Steel 1.0%
ATI, Inc.,
Sr. Unsec’d. Notes 		7.250 08/15/30   215 222,649
Big River Steel LLC/BRS Finance Corp.,
Sr. Sec’d. Notes, 144A(aa) 		6.625 01/31/29   1,709 1,721,508
Cleveland-Cliffs, Inc.,          
Gtd. Notes, 144A 6.750 04/15/30   800 799,336
Gtd. Notes, 144A 6.875 11/01/29   525 526,819
Gtd. Notes, 144A 7.000 03/15/32   380 380,438
Gtd. Notes, 144A 7.375 05/01/33   410 413,082
     
 
Mineral Resources Ltd. (Australia),
Sr. Unsec’d. Notes, 144A 		9.250 10/01/28   725 763,686
          4,827,518
17
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Leisure Time 4.3%
Amer Sports Co. (Finland),
Sr. Sec’d. Notes, 144A 		6.750 % 02/16/31   1,100  $1,114,300
Carnival Corp.,          
Gtd. Notes, 144A 5.750 03/01/27   4,300 4,310,750
Gtd. Notes, 144A 10.500 06/01/30   200 215,750
Sr. Sec’d. Notes, 144A 4.000 08/01/28   50 47,486
     
 
Life Time, Inc.,
Sr. Sec’d. Notes, 144A 		6.000 11/15/31   510 507,511
Lindblad Expeditions Holdings, Inc.,
Sr. Sec’d. Notes, 144A 		9.000 05/15/28   1,175 1,224,722
NCL Corp. Ltd.,          
Gtd. Notes, 144A 5.875 03/15/26   2,225 2,222,130
Sr. Sec’d. Notes, 144A 5.875 02/15/27   150 149,812
Sr. Sec’d. Notes, 144A 8.125 01/15/29   650 689,000
Sr. Sec’d. Notes, 144A 8.375 02/01/28   825 865,219
Sr. Unsec’d. Notes, 144A 6.250 03/01/30   450 444,766
Sr. Unsec’d. Notes, 144A 7.750 02/15/29   460 484,983
     
 
NCL Finance Ltd.,
Gtd. Notes, 144A 		6.125 03/15/28   200 200,500
Royal Caribbean Cruises Ltd.,          
Sr. Unsec’d. Notes, 144A 5.375 07/15/27   625 622,069
Sr. Unsec’d. Notes, 144A 5.500 08/31/26   250 249,882
Sr. Unsec’d. Notes, 144A 5.500 04/01/28   1,475 1,475,000
Sr. Unsec’d. Notes, 144A 5.625 09/30/31   585 581,034
Sr. Unsec’d. Notes, 144A 6.000 02/01/33   860 862,150
Viking Cruises Ltd.,          
Gtd. Notes, 144A 5.875 09/15/27   1,700 1,682,762
Gtd. Notes, 144A 9.125 07/15/31   350 377,125
Sr. Unsec’d. Notes, 144A 7.000 02/15/29   250 250,485
     
 
Viking Ocean Cruises Ship VII Ltd.,
Sr. Sec’d. Notes, 144A 		5.625 02/15/29   1,450 1,425,234
Vista Outdoor, Inc.,
Gtd. Notes, 144A 		4.500 03/15/29   50 50,875
          20,053,545
Lodging 2.0%
Boyd Gaming Corp.,
Gtd. Notes, 144A 		4.750 06/15/31   1,250 1,166,489
18
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Lodging (cont’d.)
Hilton Domestic Operating Co., Inc.,          
Gtd. Notes, 144A 3.625 % 02/15/32   825  $724,802
Gtd. Notes, 144A 4.000 05/01/31   225 205,031
Gtd. Notes, 144A 5.875 04/01/29   520 524,451
MGM Resorts International,          
Gtd. Notes 4.625 09/01/26   125 123,895
Gtd. Notes 4.750 10/15/28   225 217,378
Gtd. Notes(aa) 5.500 04/15/27   1,136 1,133,426
Gtd. Notes 6.125 09/15/29   485 483,376
Gtd. Notes(aa) 6.500 04/15/32   2,415 2,415,301
     
 
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A 		5.875 05/15/25   625 623,444
Wynn Macau Ltd. (Macau),          
Sr. Unsec’d. Notes, 144A 5.500 10/01/27   350 338,406
Sr. Unsec’d. Notes, 144A 5.625 08/26/28   1,400 1,344,070
          9,300,069
Machinery-Construction & Mining 0.3%
Terex Corp.,          
Gtd. Notes, 144A 5.000 05/15/29   725 697,522
Gtd. Notes, 144A 6.250 10/15/32   455 452,816
          1,150,338
Machinery-Diversified 0.8%
Chart Industries, Inc.,          
Gtd. Notes, 144A 9.500 01/01/31   635 681,780
Sr. Sec’d. Notes, 144A 7.500 01/01/30   925 961,076
     
 
GrafTech Finance, Inc.,
Sr. Sec’d. Notes, 144A (original cost $935,588; purchased 12/08/20 - 08/30/22)(f) 		4.625 12/15/28   975 692,506
Maxim Crane Works Holdings Capital LLC,
Sec’d. Notes, 144A 		11.500 09/01/28   885 950,108
TK Elevator US Newco, Inc. (Germany),
Sr. Sec’d. Notes, 144A 		5.250 07/15/27   625 615,013
          3,900,483
19
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Media 5.5%
CCO Holdings LLC/CCO Holdings Capital Corp.,          
Sr. Unsec’d. Notes, 144A(aa) 4.250 % 02/01/31   1,635  $1,418,879
Sr. Unsec’d. Notes, 144A(aa) 4.750 03/01/30   850 773,479
Sr. Unsec’d. Notes, 144A 5.000 02/01/28   1,000 967,727
Sr. Unsec’d. Notes, 144A 5.125 05/01/27   75 73,468
Sr. Unsec’d. Notes, 144A 5.500 05/01/26   375 373,973
CSC Holdings LLC,          
Gtd. Notes, 144A 3.375 02/15/31   1,175 842,917
Gtd. Notes, 144A(aa) 4.125 12/01/30   775 571,327
Gtd. Notes, 144A 5.375 02/01/28   200 171,153
Gtd. Notes, 144A 5.500 04/15/27   425 378,251
Gtd. Notes, 144A 6.500 02/01/29   1,200 1,013,615
Sr. Unsec’d. Notes, 144A(aa) 4.625 12/01/30   1,575 791,297
Sr. Unsec’d. Notes, 144A(aa) 5.750 01/15/30   1,750 926,010
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 41,801
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 41,148
DISH DBS Corp.,          
Gtd. Notes 5.125 06/01/29   1,490 989,641
Gtd. Notes 7.375 07/01/28   965 706,648
Gtd. Notes 7.750 07/01/26   5,015 4,237,055
     
 
DISH Network Corp.,
Sr. Sec’d. Notes, 144A 		11.750 11/15/27   1,275 1,342,250
News Corp.,
Sr. Unsec’d. Notes, 144A 		3.875 05/15/29   325 302,626
Nexstar Media, Inc.,
Gtd. Notes, 144A 		5.625 07/15/27   334 328,256
Radiate Holdco LLC/Radiate Finance, Inc.,          
Sr. Sec’d. Notes, 144A (original cost $614,625; purchased 09/11/20 - 02/03/21)(f) 4.500 09/15/26   610 529,225
Sr. Unsec’d. Notes, 144A (original cost $908,675; purchased 10/27/22 - 05/04/23)(f) 6.500 09/15/28   1,805 1,237,285
     
 
Sinclair Television Group, Inc.,
Gtd. Notes, 144A (original cost $897,425; purchased 05/04/23 - 05/25/23)(f) 		5.125 02/15/27   1,095 969,069
Univision Communications, Inc.,          
Sr. Sec’d. Notes, 144A 4.500 05/01/29   300 266,519
20
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Media (cont’d.)
Univision Communications, Inc., (cont’d.)          
Sr. Sec’d. Notes, 144A(aa) 6.625 % 06/01/27   2,135  $2,121,453
Sr. Sec’d. Notes, 144A 8.000 08/15/28   1,205 1,224,539
Virgin Media Secured Finance PLC (United Kingdom),          
Sr. Sec’d. Notes, 144A 4.500 08/15/30   600 524,250
Sr. Sec’d. Notes, 144A 5.500 05/15/29   1,400 1,321,688
     
 
VZ Secured Financing BV (Netherlands),
Sr. Sec’d. Notes, 144A 		5.000 01/15/32   1,400 1,255,996
          25,741,545
Metal Fabricate/Hardware 0.1%
Roller Bearing Co. of America, Inc.,
Sr. Unsec’d. Notes, 144A 		4.375 10/15/29   525 493,096
Mining 1.8%
Arsenal AIC Parent LLC,          
Sr. Sec’d. Notes, 144A 8.000 10/01/30   275 289,326
Unsec’d. Notes, 144A 11.500 10/01/31   575 640,419
     
 
Eldorado Gold Corp. (Turkey),
Sr. Unsec’d. Notes, 144A 		6.250 09/01/29   900 887,508
First Quantum Minerals Ltd. (Zambia),          
Gtd. Notes, 144A 6.875 10/15/27   700 691,873
Gtd. Notes, 144A 8.625 06/01/31   500 503,750
Sec’d. Notes, 144A 9.375 03/01/29   210 222,518
     
 
Hecla Mining Co.,
Gtd. Notes(aa) 		7.250 02/15/28   700 707,504
Hudbay Minerals, Inc. (Canada),          
Gtd. Notes, 144A 4.500 04/01/26   900 887,625
Gtd. Notes, 144A 6.125 04/01/29   770 773,850
     
 
New Gold, Inc. (Canada),
Gtd. Notes, 144A 		7.500 07/15/27   1,245 1,262,119
Novelis Corp.,          
Gtd. Notes, 144A 3.875 08/15/31   775 681,102
Gtd. Notes, 144A 4.750 01/30/30   815 763,211
     
 
Taseko Mines Ltd. (Canada),
Sr. Sec’d. Notes, 144A 		8.250 05/01/30   205 211,181
          8,521,986
21
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Miscellaneous Manufacturing 0.6%
Amsted Industries, Inc.,          
Gtd. Notes, 144A(aa) 5.625 % 07/01/27   1,075  $1,067,806
Sr. Unsec’d. Notes, 144A(aa) 4.625 05/15/30   785 731,285
     
 
Trinity Industries, Inc.,
Gtd. Notes, 144A 		7.750 07/15/28   750 776,071
          2,575,162
Office/Business Equipment 0.2%
CDW LLC/CDW Finance Corp.,
Gtd. Notes 		3.250 02/15/29   685 632,814
Zebra Technologies Corp.,
Gtd. Notes, 144A 		6.500 06/01/32   235 240,424
          873,238
Oil & Gas 7.2%
Aethon United BR LP/Aethon United Finance Corp.,
Sr. Unsec’d. Notes, 144A 		7.500 10/01/29   430 432,817
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 		7.625 02/01/29   504 518,031
Ascent Resources Utica Holdings LLC/ARU Finance
Corp., 		         
Gtd. Notes, 144A 9.000 11/01/27   602 714,627
Sr. Unsec’d. Notes, 144A 6.625 10/15/32   505 500,286
Sr. Unsec’d. Notes, 144A(aa) 8.250 12/31/28   2,002 2,043,037
     
 
CITGO Petroleum Corp.,
Sr. Sec’d. Notes, 144A 		7.000 06/15/25   1,175 1,176,258
Civitas Resources, Inc.,          
Gtd. Notes, 144A 8.375 07/01/28   975 1,008,119
Gtd. Notes, 144A 8.625 11/01/30   575 604,220
     
 
CNX Resources Corp.,
Gtd. Notes, 144A 		7.250 03/01/32   395 406,832
Comstock Resources, Inc.,          
Gtd. Notes, 144A 5.875 01/15/30   675 616,196
Gtd. Notes, 144A 6.750 03/01/29   975 934,029
22
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Oil & Gas (cont’d.)
Crescent Energy Finance LLC,          
Gtd. Notes, 144A 7.375 % 01/15/33   235  $227,887
Gtd. Notes, 144A 7.625 04/01/32   320 316,058
Gtd. Notes, 144A 9.250 02/15/28   925 971,344
     
 
CrownRock LP/CrownRock Finance, Inc.,
Sr. Unsec’d. Notes, 144A 		5.000 05/01/29   326 329,785
Diamond Foreign Asset Co./Diamond Finance LLC,
Sec’d. Notes, 144A 		8.500 10/01/30   300 308,862
Expand Energy Corp.,          
Gtd. Notes 4.750 02/01/32   805 756,287
Gtd. Notes(aa) 5.375 03/15/30   915 899,671
Gtd. Notes, 144A 5.500 02/01/26   375 374,442
Gtd. Notes, 144A 5.875 02/01/29   230 229,895
Gtd. Notes, 144A 6.750 04/15/29   95 96,051
Hilcorp Energy I LP/Hilcorp Finance Co.,          
Sr. Unsec’d. Notes, 144A 5.750 02/01/29   275 263,858
Sr. Unsec’d. Notes, 144A 6.000 04/15/30   585 557,420
Sr. Unsec’d. Notes, 144A 6.000 02/01/31   625 591,201
Sr. Unsec’d. Notes, 144A(aa) 6.250 11/01/28   1,668 1,628,418
Sr. Unsec’d. Notes, 144A 6.250 04/15/32   750 703,735
Sr. Unsec’d. Notes, 144A 7.250 02/15/35   640 627,939
Sr. Unsec’d. Notes, 144A 8.375 11/01/33   283 295,897
     
 
Kraken Oil & Gas Partners LLC,
Sr. Unsec’d. Notes, 144A 		7.625 08/15/29   120 118,559
Matador Resources Co.,
Gtd. Notes, 144A 		6.500 04/15/32   635 629,155
MEG Energy Corp. (Canada),
Gtd. Notes, 144A 		5.875 02/01/29   435 425,213
Nabors Industries Ltd.,
Gtd. Notes, 144A 		7.500 01/15/28   755 716,344
Nabors Industries, Inc.,          
Gtd. Notes, 144A 7.375 05/15/27   270 270,441
Gtd. Notes, 144A 8.875 08/15/31   510 483,215
Gtd. Notes, 144A 9.125 01/31/30   1,230 1,272,394
     
 
New Generation Gas Gathering LLC,
Sr. Sec’d. Notes, 144A, 3 Month SOFR + 5.750% (Cap N/A, Floor 2.000%)^ 		10.342(c) 09/30/29   189 186,351
Noble Finance II LLC,
Gtd. Notes, 144A 		8.000 04/15/30   635 643,769
23
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Oil & Gas (cont’d.)
Parkland Corp. (Canada),          
Gtd. Notes, 144A 4.500 % 10/01/29   800  $743,000
Gtd. Notes, 144A 4.625 05/01/30   1,325 1,216,920
Sr. Unsec’d. Notes, 144A 6.625 08/15/32   250 248,750
Permian Resources Operating LLC,          
Gtd. Notes, 144A 6.250 02/01/33   370 367,347
Gtd. Notes, 144A 7.000 01/15/32   520 530,644
Gtd. Notes, 144A 8.000 04/15/27   700 719,374
Precision Drilling Corp. (Canada),          
Gtd. Notes, 144A 6.875 01/15/29   275 273,625
Gtd. Notes, 144A(aa) 7.125 01/15/26   744 743,070
Range Resources Corp.,          
Gtd. Notes 4.875 05/15/25   100 99,663
Gtd. Notes, 144A 4.750 02/15/30   575 541,406
SM Energy Co.,          
Sr. Unsec’d. Notes, 144A 6.750 08/01/29   355 352,921
Sr. Unsec’d. Notes, 144A 7.000 08/01/32   250 248,328
     
 
Sunoco LP,
Gtd. Notes, 144A 		7.000 05/01/29   425 438,904
Sunoco LP/Sunoco Finance Corp.,          
Gtd. Notes 4.500 05/15/29   1,455 1,382,974
Gtd. Notes 4.500 04/30/30   750 703,866
Gtd. Notes 5.875 03/15/28   75 74,706
Transocean, Inc.,          
Gtd. Notes, 144A 8.000 02/01/27   86 85,463
Gtd. Notes, 144A 8.250 05/15/29   1,300 1,308,125
Gtd. Notes, 144A 8.500 05/15/31   60 60,450
Sr. Sec’d. Notes, 144A 8.750 02/15/30   51 52,639
     
 
Valaris Ltd.,
Sec’d. Notes, 144A 		8.375 04/30/30   425 430,007
Vital Energy, Inc.,
Gtd. Notes 		9.750 10/15/30   225 237,261
          33,738,619
Packaging & Containers 2.2%
ARD Finance SA (Luxembourg),
Sr. Sec’d. Notes, 144A, Cash coupon 6.500% or PIK 7.250%(aa) 		6.500 06/30/27   1,266 276,344
24
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Packaging & Containers (cont’d.)
Ardagh Packaging Finance PLC/Ardagh Holdings USA,
Inc., 		         
Sr. Sec’d. Notes 2.125 % 08/15/26 EUR 500  $459,003
Sr. Sec’d. Notes, 144A 4.125 08/15/26   400 348,000
     
 
Graham Packaging Co., Inc.,
Gtd. Notes, 144A 		7.125 08/15/28   395 383,550
Graphic Packaging International LLC,
Gtd. Notes, 144A 		3.500 03/01/29   575 525,054
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada),
Sr. Sec’d. Notes, 144A 		6.000 09/15/28   1,059 1,041,791
Iris Holding, Inc.,
Sr. Unsec’d. Notes, 144A 		10.000 12/15/28   565 496,357
LABL, Inc.,          
Sr. Sec’d. Notes, 144A 5.875 11/01/28   425 394,944
Sr. Sec’d. Notes, 144A 8.625 10/01/31   635 612,043
Sr. Sec’d. Notes, 144A 9.500 11/01/28   200 204,925
Sr. Unsec’d. Notes, 144A 8.250 11/01/29   465 410,328
Sr. Unsec’d. Notes, 144A 10.500 07/15/27   900 891,197
     
 
Mauser Packaging Solutions Holding Co.,
Sr. Sec’d. Notes, 144A 		7.875 04/15/27   620 637,022
OI European Group BV,
Gtd. Notes, 144A 		4.750 02/15/30   325 293,150
Owens-Brockway Glass Container, Inc.,          
Gtd. Notes, 144A 6.625 05/13/27   230 228,978
Gtd. Notes, 144A 7.250 05/15/31   400 393,958
     
 
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.,
Sr. Sec’d. Notes, 144A 		4.375 10/15/28   725 682,014
Sealed Air Corp./Sealed Air Corp. US,
Gtd. Notes, 144A 		6.125 02/01/28   150 151,417
Trident TPI Holdings, Inc.,
Gtd. Notes, 144A(aa) 		12.750 12/31/28   1,375 1,508,936
TriMas Corp.,
Gtd. Notes, 144A 		4.125 04/15/29   325 303,467
          10,242,478
25
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Pharmaceuticals 2.8%
AdaptHealth LLC,          
Gtd. Notes, 144A(aa) 4.625 % 08/01/29   1,475  $1,340,229
Gtd. Notes, 144A 5.125 03/01/30   725 664,817
Gtd. Notes, 144A 6.125 08/01/28   845 833,309
     
 
Bausch Health Americas, Inc.,
Gtd. Notes, 144A 		8.500 01/31/27   925 742,271
Bausch Health Cos., Inc.,          
Gtd. Notes, 144A 5.000 01/30/28   475 304,000
Gtd. Notes, 144A 5.000 02/15/29   1,150 661,250
Gtd. Notes, 144A 5.250 01/30/30   2,325 1,278,750
Gtd. Notes, 144A 5.250 02/15/31   2,635 1,422,900
Gtd. Notes, 144A 6.250 02/15/29   560 346,500
Gtd. Notes, 144A 7.000 01/15/28   250 165,000
Gtd. Notes, 144A 9.000 12/15/25   500 490,270
Sr. Sec’d. Notes, 144A 4.875 06/01/28   1,350 1,039,500
Sr. Sec’d. Notes, 144A 11.000 09/30/28   175 160,672
     
 
Jazz Securities DAC,
Sr. Sec’d. Notes, 144A 		4.375 01/15/29   355 334,275
Organon & Co./Organon Foreign Debt Co-Issuer BV,
Sr. Unsec’d. Notes, 144A(aa) 		5.125 04/30/31   3,575 3,259,692
P&L Development LLC/PLD Finance Corp.,          
Sr. Sec’d. Notes, 144A 7.750 11/15/25   55 55,436
Sr. Sec’d. Notes, 144A, Cash coupon 9.000% and PIK 3.500% or Cash coupon 12.000% 12.000 05/15/29   179 180,159
          13,279,030
Pipelines 5.7%
Antero Midstream Partners LP/Antero Midstream
Finance Corp., 		         
Gtd. Notes, 144A 5.375 06/15/29   725 707,803
Gtd. Notes, 144A(aa) 5.750 01/15/28   2,425 2,412,482
Gtd. Notes, 144A 6.625 02/01/32   270 272,988
Blue Racer Midstream LLC/Blue Racer Finance Corp.,          
Sr. Unsec’d. Notes, 144A 7.000 07/15/29   130 133,176
Sr. Unsec’d. Notes, 144A 7.250 07/15/32   245 252,939
     
 
Cheniere Energy Partners LP,
Gtd. Notes(aa) 		4.000 03/01/31   1,575 1,456,736
Cheniere Energy, Inc.,
Sr. Unsec’d. Notes 		4.625 10/15/28   990 970,940
26
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Pipelines (cont’d.)
     
Energy Transfer LP,
Jr. Sub. Notes, Series G(aa) 		7.125 %(ff) 05/15/30(oo)   1,075  $1,093,578
EQM Midstream Partners LP,          
Sr. Unsec’d. Notes 5.500 07/15/28   50 49,790
Sr. Unsec’d. Notes, 144A 6.000 07/01/25   351 351,522
Sr. Unsec’d. Notes, 144A 6.500 07/01/27   1,275 1,304,195
Sr. Unsec’d. Notes, 144A 7.500 06/01/27   125 128,125
Sr. Unsec’d. Notes, 144A 7.500 06/01/30   680 732,292
Global Partners LP/GLP Finance Corp.,          
Gtd. Notes 6.875 01/15/29   375 374,290
Gtd. Notes 7.000 08/01/27   650 651,483
Gtd. Notes, 144A 8.250 01/15/32   375 382,422
Howard Midstream Energy Partners LLC,          
Sr. Unsec’d. Notes, 144A 7.375 07/15/32   170 173,339
Sr. Unsec’d. Notes, 144A 8.875 07/15/28   250 263,792
     
 
Northriver Midstream Finance LP (Canada),
Sr. Sec’d. Notes, 144A 		6.750 07/15/32   90 92,362
Rockies Express Pipeline LLC,          
Sr. Unsec’d. Notes, 144A 4.800 05/15/30   420 388,336
Sr. Unsec’d. Notes, 144A(aa) 6.875 04/15/40   2,015 1,910,267
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp., 		         
Gtd. Notes, 144A(aa) 5.500 01/15/28   1,829 1,757,526
Gtd. Notes, 144A 6.000 12/31/30   365 342,577
Sr. Unsec’d. Notes, 144A 7.375 02/15/29   435 436,173
Venture Global Calcasieu Pass LLC,          
Sr. Sec’d. Notes, 144A 3.875 08/15/29   985 909,793
Sr. Sec’d. Notes, 144A 4.125 08/15/31   285 259,463
Sr. Sec’d. Notes, 144A 6.250 01/15/30   300 306,712
Venture Global LNG, Inc.,          
Jr. Sub. Notes, 144A 9.000(ff) 09/30/29(oo)   1,395 1,394,413
Sr. Sec’d. Notes, 144A 7.000 01/15/30   585 588,509
Sr. Sec’d. Notes, 144A(aa) 9.500 02/01/29   2,350 2,598,260
Sr. Sec’d. Notes, 144A(aa) 9.875 02/01/32   2,600 2,837,775
Western Midstream Operating LP,          
Sr. Unsec’d. Notes(aa) 4.050 02/01/30   1,275 1,197,811
Sr. Unsec’d. Notes 5.500 08/15/48   75 66,524
          26,798,393
27
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Real Estate 1.2%
Five Point Operating Co. LP/Five Point Capital Corp.,
Gtd. Notes, 144A 		10.500 %(cc) 01/15/28   1,112  $1,138,908
Greystar Real Estate Partners LLC,
Sr. Sec’d. Notes, 144A 		7.750 09/01/30   250 261,955
Howard Hughes Corp. (The),          
Gtd. Notes, 144A 4.125 02/01/29   1,350 1,244,805
Gtd. Notes, 144A 4.375 02/01/31   875 784,031
Gtd. Notes, 144A 5.375 08/01/28   665 646,341
     
 
Hunt Cos., Inc.,
Sr. Sec’d. Notes, 144A(aa) 		5.250 04/15/29   1,475 1,398,755
          5,474,795
Real Estate Investment Trusts (REITs) 2.3%
Diversified Healthcare Trust,          
Gtd. Notes 4.375 03/01/31   861 696,276
Gtd. Notes 9.750 06/15/25   67 67,000
Sr. Unsec’d. Notes(aa) 4.750 02/15/28   1,350 1,192,835
MPT Operating Partnership LP/MPT Finance Corp.,          
Gtd. Notes(aa) 3.500 03/15/31   1,750 1,238,391
Gtd. Notes 5.000 10/15/27   25 22,070
     
 
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer,
Gtd. Notes, 144A 		7.000 02/01/30   300 307,018
RHP Hotel Properties LP/RHP Finance Corp.,          
Gtd. Notes, 144A 4.500 02/15/29   675 645,738
Gtd. Notes, 144A 6.500 04/01/32   565 571,229
     
 
SBA Communications Corp.,
Sr. Unsec’d. Notes 		3.125 02/01/29   350 318,487
Starwood Property Trust, Inc.,          
Sr. Unsec’d. Notes, 144A 4.375 01/15/27   275 265,236
Sr. Unsec’d. Notes, 144A 7.250 04/01/29   470 483,078
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL
Capital LLC, 		         
Sr. Sec’d. Notes, 144A 4.750 04/15/28   300 275,804
Sr. Sec’d. Notes, 144A(aa) 10.500 02/15/28   1,625 1,732,388
Sr. Sec’d. Notes, 144A 10.500 02/15/28   375 397,956
28
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Real Estate Investment Trusts (REITs) (cont’d.)
VICI Properties LP/VICI Note Co., Inc.,          
Gtd. Notes, 144A(aa) 4.500 % 01/15/28   2,000  $1,948,621
Gtd. Notes, 144A(aa) 4.625 12/01/29   825 792,318
          10,954,445
Retail 6.0%
1011778 BC ULC/New Red Finance, Inc. (Canada),          
Sec’d. Notes, 144A(aa) 4.000 10/15/30   3,425 3,084,212
Sr. Sec’d. Notes, 144A 3.875 01/15/28   338 322,151
     
 
Arko Corp.,
Gtd. Notes, 144A 		5.125 11/15/29   975 898,810
BCPE Ulysses Intermediate, Inc.,
Sr. Unsec’d. Notes, 144A, Cash coupon 7.750% or PIK 8.500% 		7.750 04/01/27   240 234,076
Beacon Roofing Supply, Inc.,
Sr. Sec’d. Notes, 144A 		6.500 08/01/30   125 127,068
Brinker International, Inc.,
Gtd. Notes, 144A 		8.250 07/15/30   900 957,968
Carvana Co.,          
Sr. Sec’d. Notes, 144A, Cash coupon 9.000% or PIK 12.000% 12.000 12/01/28   425 449,839
Sr. Sec’d. Notes, 144A, Cash coupon 11.000% or PIK 13.000%(aa) 13.000 06/01/30   2,064 2,253,926
Sr. Sec’d. Notes, 144A, PIK 14.000%(aa) 14.000 06/01/31   1,526 1,824,328
     
 
Cougar JV Subsidiary LLC,
Sr. Unsec’d. Notes, 144A 		8.000 05/15/32   265 276,940
eG Global Finance PLC (United Kingdom),
Sr. Sec’d. Notes, 144A 		12.000 11/30/28   475 526,656
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc., 		         
Gtd. Notes, 144A(aa) 6.750 01/15/30   2,250 2,045,687
Sr. Sec’d. Notes, 144A 4.625 01/15/29   500 466,923
     
 
Foundation Building Materials, Inc.,
Gtd. Notes, 144A 		6.000 03/01/29   680 602,281
Gap, Inc. (The),          
Gtd. Notes, 144A 3.625 10/01/29   1,100 986,995
Gtd. Notes, 144A 3.875 10/01/31   575 494,181
     
 
LBM Acquisition LLC,
Gtd. Notes, 144A(aa) 		6.250 01/15/29   1,550 1,431,999
29
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Retail (cont’d.)
LCM Investments Holdings II LLC,          
Sr. Unsec’d. Notes, 144A(aa) 4.875 % 05/01/29   1,525  $1,440,652
Sr. Unsec’d. Notes, 144A 8.250 08/01/31   220 230,052
     
 
Lithia Motors, Inc.,
Sr. Unsec’d. Notes, 144A 		3.875 06/01/29   800 733,943
Park River Holdings, Inc.,          
Gtd. Notes, 144A(aa) 5.625 02/01/29   1,565 1,367,857
Sr. Unsec’d. Notes, 144A 6.750 08/01/29   200 178,857
Patrick Industries, Inc.,          
Gtd. Notes, 144A 4.750 05/01/29   75 70,962
Gtd. Notes, 144A 6.375 11/01/32   525 519,222
Gtd. Notes, 144A 7.500 10/15/27   675 675,089
     
 
Sally Holdings LLC/Sally Capital, Inc.,
Gtd. Notes(aa) 		6.750 03/01/32   1,520 1,540,254
Suburban Propane Partners LP/Suburban Energy
Finance Corp., 		         
Sr. Unsec’d. Notes 5.875 03/01/27   610 608,207
Sr. Unsec’d. Notes, 144A 5.000 06/01/31   1,275 1,170,432
     
 
Superior Plus LP/Superior General Partner, Inc. (Canada),
Gtd. Notes, 144A 		4.500 03/15/29   1,400 1,286,432
White Cap Buyer LLC,
Sr. Unsec’d. Notes, 144A 		6.875 10/15/28   950 954,149
White Cap Parent LLC,
Sr. Unsec’d. Notes, 144A, Cash coupon 8.250% or PIK 9.000% 		8.250 03/15/26   180 180,054
          27,940,202
Software 0.5%
Clarivate Science Holdings Corp.,          
Gtd. Notes, 144A 4.875 07/01/29   1,425 1,346,914
Sr. Sec’d. Notes, 144A 3.875 07/01/28   1,075 1,015,088
          2,362,002
Telecommunications 6.7%
Altice Financing SA (Luxembourg),          
Sr. Sec’d. Notes, 144A(aa) 2.250 01/15/25 EUR 1,725 1,851,019
Sr. Sec’d. Notes, 144A 5.000 01/15/28   875 735,070
30
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Telecommunications (cont’d.)
Altice Financing SA (Luxembourg), (cont’d.)          
Sr. Sec’d. Notes, 144A(aa) 5.750 % 08/15/29   2,275  $1,858,129
Sr. Sec’d. Notes, 144A 9.625 07/15/27   700 680,750
     
 
Connect Finco Sarl/Connect US Finco LLC (United Kingdom),
Sr. Sec’d. Notes, 144A 		9.000 09/15/29   725 688,750
Digicel Group Holdings Ltd. (Jamaica),          
Sr. Sec’d. Notes, Series 1B14, 144A (original cost $56; purchased 11/14/23)^(f) 0.000 12/31/30   562 41,933
Sr. Sec’d. Notes, Series 3A14, 144A (original cost $644; purchased 11/14/23)^(f) 0.000 12/31/30   —(r) 282
Sr. Sec’d. Notes, Series 3B14, 144A (original cost $3; purchased 11/14/23)^(f) 0.000 12/31/30   35 235
     
 
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 $1,310,336; purchased 01/30/24 - 05/15/24)(f) 		10.500 05/25/27   1,411 1,419,763
Digicel MidCo Ltd./DIFL US II LLC (Jamaica),
Sr. Unsec’d. Notes, PIK 10.500% (original cost $764,566; purchased 01/30/24 - 05/15/24)(f) 		10.500 11/25/28   1,165 1,079,058
Frontier Communications Holdings LLC,          
Sec’d. Notes 5.875 11/01/29   1,050 1,025,514
Sec’d. Notes, 144A 6.000 01/15/30   825 808,864
Sec’d. Notes, 144A 6.750 05/01/29   425 422,937
Sr. Sec’d. Notes, 144A(aa) 5.000 05/01/28   2,725 2,680,239
Sr. Sec’d. Notes, 144A 5.875 10/15/27   425 424,097
Sr. Sec’d. Notes, 144A 8.750 05/15/30   400 423,678
Iliad Holding SASU (France),          
Sr. Sec’d. Notes, 144A 6.500 10/15/26   1,095 1,103,212
Sr. Sec’d. Notes, 144A 7.000 10/15/28   575 582,906
Sr. Sec’d. Notes, 144A 8.500 04/15/31   335 355,613
     
 
Intelsat Jackson Holdings SA (Luxembourg),
Sr. Sec’d. Notes, 144A(aa) 		6.500 03/15/30   1,515 1,420,312
Level 3 Financing, Inc.,          
Gtd. Notes, 144A 3.625 01/15/29   400 299,908
Sec’d. Notes, 144A 3.875 10/15/30   125 95,582
Sec’d. Notes, 144A 4.000 04/15/31   275 208,051
Sec’d. Notes, 144A(aa) 4.500 04/01/30   1,780 1,427,635
Sec’d. Notes, 144A 4.875 06/15/29   400 342,105
31
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Telecommunications (cont’d.)
Level 3 Financing, Inc., (cont’d.)          
Sr. Sec’d. Notes, 144A 10.500 % 04/15/29   75  $83,602
Sr. Sec’d. Notes, 144A 10.500 05/15/30   456 499,542
Sr. Sec’d. Notes, 144A(aa) 11.000 11/15/29   2,808 3,169,271
     
 
Lumen Technologies, Inc.,
Sr. Sec’d. Notes, 144A 		10.000 10/15/32   175 174,318
Sable International Finance Ltd. (Panama),
Sr. Sec’d. Notes, 144A 		7.125 10/15/32   320 321,053
Sprint Capital Corp.,          
Gtd. Notes 6.875 11/15/28   700 751,005
Gtd. Notes 8.750 03/15/32   706 853,574
     
 
Sprint LLC,
Gtd. Notes 		7.625 02/15/25   2,725 2,728,659
Viasat, Inc.,
Sr. Unsec’d. Notes, 144A 		5.625 09/15/25   775 764,482
Windstream Services LLC/Windstream Escrow Finance
Corp., 		         
Sr. Sec’d. Notes, 144A 7.750 08/15/28   375 377,036
Sr. Sec’d. Notes, 144A 8.250 10/01/31   450 455,592
     
 
Zegona Finance PLC (United Kingdom),
Sr. Sec’d. Notes, 144A 		8.625 07/15/29   1,000 1,056,250
          31,210,026
Transportation 0.5%
GN Bondco LLC,
Sr. Sec’d. Notes, 144A(aa) 		9.500 10/15/31   1,500 1,593,251
RXO, Inc.,
Gtd. Notes, 144A 		7.500 11/15/27   420 436,106
XPO, Inc.,          
Gtd. Notes, 144A 7.125 06/01/31   150 155,168
Gtd. Notes, 144A 7.125 02/01/32   345 358,099
          2,542,624
     
 
Total Corporate Bonds
(cost $510,333,804) 		488,226,144
32
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans 7.3%
Advertising 0.0%
Terrier Media Buyer, Inc.,
2021 Refinancing Term B Loan, 3 Month SOFR + 3.600% 		8.204 %(c) 12/17/26   60  $54,533
Auto Parts & Equipment 0.2%
First Brands Group LLC,
Second Lien 2021 Term Loan, 3 Month SOFR + 8.762% 		13.347(c) 03/30/28   745 692,850
Tenneco, Inc.,
Term A Loan, 3 Month SOFR + 4.850% 		9.978(c) 11/17/28   495 468,853
          1,161,703
Chemicals 0.6%
Consolidated Energy Finance SA (Switzerland),
2024 Incremental Term Loan, 3 Month SOFR + 4.500% 		9.557(c) 11/15/30   1,020 959,320
Iris Holdings Ltd.,
Initial Term Loan, 3 Month SOFR + 4.850% 		9.435(c) 06/28/28   446 425,673
Venator Finance Sarl,          
Initial First-Out Term Loan, 3 Month SOFR + 10.000%^ 14.647(c) 12/31/25   502 502,237
Term Loan, 3 Month SOFR + 2.000% 14.656(c) 10/12/28   716 710,662
          2,597,892
Commercial Services 0.0%
Fly Funding II Sarl (Luxembourg),
Term B Loan, 3 Month LIBOR + 1.750% 		7.120(c) 08/11/25   94 92,280
Computers 0.5%
McAfee Corp.,
Tranche B-1 Term Loan, 1 Month SOFR + 3.250% 		8.100(c) 03/01/29   1,569 1,564,904
NCR Atleos Corp.,          
Term A Loan, 3 Month SOFR + 2.750%^ 7.335(c) 09/27/28   216 215,860
Term B Loan, 3 Month SOFR + 3.750% 8.397(c) 03/27/29   653 651,307
          2,432,071
33
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans (Continued)
Electric 0.0%
Heritage Power LLC,
Term Loan, 3 Month SOFR + 7.000%^ 		11.604 %(c) 07/20/28   224  $220,177
Electronics 0.1%
Likewize Corp.,          
Closing Date Term Loan, 3 Month SOFR + 5.750% 10.350(c) 08/15/29   390 379,844
Delayed Draw Term Loan, 1 Month SOFR + 5.750% 10.468(c) 08/15/29   35 34,531
          414,375
Forest Products & Paper 0.1%
Glatfelter Corporation,
Term Loan 		—(p) 10/31/31   275 272,080
Holding Companies-Diversified 0.0%
Clue OpCo LLC,
Term B Loan, 3 Month SOFR + 4.500% 		9.085(c) 12/19/30   179 178,376
Household Products/Wares 0.1%
Kronos Acquisition Holdings, Inc. (Canada),
Initial Loan 2024, 3 Month SOFR + 4.000% 		8.584(c) 07/08/31   525 492,333
Housewares 0.2%
SWF Holdings I Corp.,
Initial Term Loan, 1 Month SOFR + 4.000% 		8.800(c) 10/06/28   990 811,493
Insurance 0.5%
Acrisure LLC,
2024 Refinancing Term Loan, 1 Month SOFR + 3.250% 		8.009(c) 11/06/30   969 964,872
Asurion LLC,          
New B-04 Term Loan, 1 Month SOFR + 5.364% 10.050(c) 01/20/29   1,080 1,028,250
New B-12 Term Loan, 1 Month SOFR + 4.250% 8.935(c) 09/19/30   200 197,417
          2,190,539
Internet 0.0%
Cablevision Lightpath LLC,
Initial Term Loan, 1 Month SOFR + 3.364% 		8.168(c) 11/30/27   25 24,793
34
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans (Continued)
Investment Companies 0.2%
Hurricane CleanCo Ltd. (United Kingdom),
Facility A^ 		6.250 % 10/31/29 GBP 775  $999,681
Media 1.5%
Altice Financing SA (Luxembourg),
2022 Dollar Loan, 3 Month SOFR + 5.000% 		9.656(c) 10/31/27   428 384,336
CSC Holdings LLC,
2022 Refinancing Term Loan, 1 Month SOFR + 4.500% 		9.304(c) 01/18/28   2,845 2,777,685
Diamond Sports Group LLC,          
Dip Term Loan 10.000 12/02/24   961 1,013,969
First Lien Term Loan, 1 Month SOFR + 10.100% 14.944(c) 05/25/26   195 166,802
Second Lien Term Loan 8.175 08/24/26   3,201 9,085
     
 
Radiate Holdco LLC,
Amendment No. 6 Term Loan, 1 Month SOFR + 3.364% 		8.050(c) 09/25/26   2,877 2,518,965
Virgin Media Bristol LLC,
Facility Q Advance, 1 Month SOFR + 3.364% 		8.150(c) 01/31/29   150 146,156
          7,016,998
Metal Fabricate/Hardware 0.4%
Doncasters US Finance LLC (United Kingdom),
Initial Term Loan, 3 Month SOFR + 6.500%^ 		11.104(c) 04/23/30   2,134 2,112,932
Pharmaceuticals 0.1%
Bausch Health Cos., Inc.,
Second Amendment Term Loan, 1 Month SOFR + 5.250% 		10.706(c) 02/01/27   300 293,000
Retail 0.2%
Great Outdoors Group LLC,
Term B-2 Loan, 1 Month SOFR + 3.864% 		8.550(c) 03/06/28   732 733,170
Software 0.6%
athenahealth, Inc.,
Initial Term Loan, 1 Month SOFR + 3.250% 		7.935(c) 02/15/29   287 285,364
35
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans (Continued)
Software (cont’d.)
BMC Software,
2031 New First Lien Dollar Term Loan, 3 Month SOFR + 3.750% 		8.335 %(c) 07/30/31   150  $149,478
Cotiviti, Inc.,
Initial Floating Rate Term Loan, 1 Month SOFR + 3.250% 		8.094(c) 05/01/31   1,431 1,431,471
Skillsoft Finance II, Inc.,
Initial Term Loan, 1 Month SOFR + 5.364% 		10.082(c) 07/14/28   963 777,610
          2,643,923
Telecommunications 2.0%
Connect Finco Sarl (United Kingdom),
Amendment No. 4 Term Loan, 1 Month SOFR + 4.500% 		9.185(c) 09/27/29   1,044 944,003
Digicel International Finance Ltd. (Jamaica),
Initial Term Loan, 3 Month SOFR + 6.750% 		11.335(c) 05/25/27   179 178,282
Level 3 Financing, Inc.,          
Term B-1, 1 Month SOFR + 6.560% 11.278(c) 04/15/29   2,586 2,640,790
Term B-2, 1 Month SOFR + 6.560% 11.278(c) 04/15/30   4,044 4,123,556
MLN US HoldCo LLC,          
3L Term B Loan, 3 Month SOFR + 9.350% 13.935(c) 10/18/27   4 120
Initial Term Loan, 3 Month SOFR + 6.540% 11.125(c) 10/18/27   25 15,086
Initial Term Loan (Second Out (First Lien Roll-Up)), 3 Month SOFR + 6.800% 11.385(c) 10/18/27   57 4,555
Xplornet Communications, Inc. (Canada),          
First Lien Refinancing Term Loan 11.000 10/02/28(d)   4,014 816,229
Initial Term Loan - Second Lien 12.596 10/01/29(d)   1,055 5,275
Term Loan —(p) 10/24/29   231 231,247
     
 
Zegona Holdco Ltd.,
Facility B (USD), 6 Month SOFR + 4.250%^ 		9.415(c) 07/17/29   675 664,031
          9,623,174
     
 
Total Floating Rate and Other Loans
(cost $37,604,768) 		34,365,523
U.S. Treasury Obligation(k) 0.5%
U.S. Treasury Notes
(cost $2,248,712) 		3.750 08/31/26   2,245 2,228,075
    
36
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description     Shares Value
Affiliated Exchange-Traded Fund 3.3%
PGIM AAA CLO ETF
(cost $15,491,806) 		303,020  $15,538,866
Common Stocks 2.5%
Chemicals 1.0%
Cornerstone Chemical Co.*^       43,850 833,150
TPC Group, Inc. (original cost $734,508; purchased 12/15/22)*^(f)       67,793 2,576,134
Venator Materials PLC (original cost $4,596,226; purchased 03/08/19 - 10/19/23)*^(f)       2,297 1,148,500
          4,557,784
Electric Utilities 0.0%
GenOn Energy Holdings, Inc. (Class A Stock)*^       9,187 275,610
Keycon Power Holdings LLC (original cost $828,044; purchased 01/17/19 - 08/28/24)*^(f)       12,469 1
          275,611
Gas Utilities 0.3%
Ferrellgas Partners LP (Class B Stock)^       9,477 1,684,643
Hotels, Restaurants & Leisure 0.1%
CEC Entertainment, Inc.*       22,321 306,914
Oil, Gas & Consumable Fuels 0.5%
Expand Energy Corp.       6,253 529,754
Heritage Power LLC*^       30,465 1,568,947
Heritage Power LLC*^       1,340 69,010
Heritage Power LLC*^       35,061 17,531
          2,185,242
Wireless Telecommunication Services 0.6%
Digicel International Finance Ltd. (Jamaica) (original cost $336,102; purchased 01/29/24 - 02/08/24)*^(f)       276,054 692,896
Intelsat Emergence SA (Luxembourg)*       59,619 1,805,949
XPLORE, Inc. (Canada)       24,712 179,038
          2,677,883
     
 
Total Common Stocks
(cost $10,668,151) 		11,688,077
37
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Description     Shares Value
Preferred Stocks 0.6%
Electronic Equipment, Instruments & Components 0.5%
Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31^       2,625  $2,625,000
Wireless Telecommunication Services 0.1%
Digicel International Finance Ltd. (Jamaica) (original cost $177,620; purchased 01/26/24 - 01/29/24)*^(f)       29,408 320,691
     
 
Total Preferred Stocks
(cost $2,748,870) 		2,945,691
 
Total Long-Term Investments
(cost $605,676,925) 		581,738,463
    
         
Short-Term Investment 1.5%
Affiliated Mutual Fund           
PGIM Core Government Money Market Fund (7-day effective yield 5.011%)
(cost $7,278,547)(wa) 		    7,278,547 7,278,547
 
TOTAL INVESTMENTS 125.5%
(cost $612,955,472) 		589,017,010
Liabilities in excess of other assets(z) (25.5)% (119,744,142)
 
Net Assets 100.0% $469,272,868
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
  CDX—Credit Derivative Index
  CITI—Citibank, N.A.
  CLO—Collateralized Loan Obligation
  DAC—Designated Activity Company
  ETF—Exchange-Traded Fund
  GSI—Goldman Sachs International
  HSBC—HSBC Bank PLC
  iBoxx—Bond Market Indices
  LIBOR—London Interbank Offered Rate
  LP—Limited Partnership
38
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
  MSI—Morgan Stanley & Co International PLC
  N/A—Not Applicable
  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 $17,530,940 and 3.7% of net assets. 
(aa) Represents security, or a portion thereof, with aggregate value of $159,275,271 segregated as collateral for amount of $120,000,000 borrowed and outstanding as of October 31, 2024.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at October 31, 2024.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of October 31, 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.
(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 $25,142,388. The aggregate value of $14,176,321 is 3.0% 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.
(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.
(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.
(wa) Represents investments in Funds 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 corporate bond commitment outstanding at October 31, 2024:
Issuer   Principal
Amount
(000)# 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
New Generation Gas Gathering LLC, Sr. Sec’d. Notes, 144A, —%(p), Maturity Date 09/30/29 (cost $503,148)^    511   $503,148   $—   $—
39
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Unfunded loan commitment outstanding at October 31, 2024:
Borrower   Principal
Amount
(000)# 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
Doncasters US Finance LLC, Delayed Draw Term Loan, 1.500%, Maturity Date 04/23/30 (cost $212,248)^    215   $212,355   $107   $—
Futures contracts outstanding at October 31, 2024:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
125   2 Year U.S. Treasury Notes   Dec. 2024    $25,743,164    $(200,624)
251   5 Year U.S. Treasury Notes   Dec. 2024   26,915,829   (477,846)
209   10 Year U.S. Treasury Notes   Dec. 2024   23,087,969   (717,912)
21   20 Year U.S. Treasury Bonds   Dec. 2024   2,477,344   (154,171)
14   30 Year U.S. Ultra Treasury Bonds   Dec. 2024   1,758,750   (110,670)
                $(1,661,223)
Forward foreign currency exchange contracts outstanding at October 31, 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 11/05/24   CITI   GBP 1,544    $2,007,093    $1,991,097    $—    $(15,996)
Euro,
Expiring 11/05/24   SSB   EUR 2,868   3,105,819   3,120,620   14,801   —
              $5,112,912   $5,111,717   14,801   (15,996)
    
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 11/05/24   HSBC   GBP 1,544    $2,067,003    $1,991,097    $75,906    $—
Expiring 12/03/24   CITI   GBP 1,544   2,007,027   1,991,006   16,021   —
40
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2024
Forward foreign currency exchange contracts outstanding at October 31, 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,
Expiring 11/05/24   SSB   EUR 2,868    $3,200,523    $3,120,620    $79,903    $—
Expiring 12/03/24   SSB   EUR 2,868   3,109,387   3,124,129   —   (14,742)
              $10,383,940   $10,226,852   171,830   (14,742)
                      $186,631   $(30,738)
Credit default swap agreement outstanding at October 31, 2024:
Reference
Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied Credit
Spread at
October 31,
2024(4) 		  Value at
Trade Date 		  Value at
October 31,
2024 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):
CDX.NA.HY.42.V1 06/20/29   5.000%(Q)     17,760   3.122%    $1,102,019    $1,397,067    $295,048
CDX.NA.HY.43.V1 12/20/29   5.000%(Q)     12,040   3.360%   850,633   895,808   45,175
                      $1,952,652   $2,292,875   $340,223
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.
41
High Yield Bond Fund, Inc.
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 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 October 31, 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)/ 4.900%   BARC   12/20/24   4,290    $11,425    $—    $11,425
iBoxx US Dollar Liquid High Yield Index(T)   1 Day SOFR(Q)/ 4.900%   MSI   12/20/24   25,960   1,173,859   —   1,173,859
iBoxx US Dollar Liquid High Yield Index(T)   1 Day SOFR(Q)/ 4.900%   BARC   03/20/25   2,360   73,649   —   73,649
iBoxx US Dollar Liquid Investment Grade Index(T)   1 Day SOFR(Q)/ 4.900%   MSI   12/20/24   (5,790)   94,765   —   94,765
iBoxx US Dollar Liquid Investment Grade Index(T)   1 Day SOFR(Q)/ 4.900%   GSI   12/20/24   (5,460)   (112,913)   —   (112,913)
                    $1,240,785   $—   $1,240,785
(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).
42
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