<PAGE> PAGE 1
000 A000000 04/30/99
000 C000000 0001061353
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 DLJ HIGH YIELD BOND FUND
001 B000000 811-8777
001 C000000 2128924000
002 A000000 277 PARK AVENUE, 24TH FLOOR
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10172
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 DLJ INVESTMENT MANAGEMENT CORP.
008 B000001 A
008 C000001 801-51377
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10172
010 A000001 FIRST DATA INVESTOR SERVICES GROUP, INC.
010 B000001 84-1761
010 C010001 KING OF PRUSSIA
010 C020001 PA
010 C030001 19406
010 C040001 0903
011 A000001 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
011 B000001 8-17574
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10172
012 A000001 FIRST DATA INVESTOR SERVICES GROUP, INC.
012 B000001 84-1761
<PAGE> PAGE 2
012 C010001 KING OF PRUSSIA
012 C020001 PA
012 C030001 19406
012 C040001 0903
013 A000001 ERNST & YOUNG LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 00000
014 A000001 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
014 B000001 8-17574
015 A000001 CITIBANK, N.A.
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10005
015 E010001 X
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 DONALDSON LUFKIN JENRETTE
020 B000001 13-2741729
020 C000001 244
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 244
022 A000001 GOLDMAN SACHS
022 B000001 13-5108880
022 C000001 87712
022 D000001 12896
022 A000002 GENERAL ELECTRIC
022 C000002 64881
022 D000002 2399
022 A000003 LEHMAN BROTHERS
022 B000003 13-2518466
022 C000003 47210
022 D000003 0
022 A000004 MERRILL LYNCH
022 B000004 13-5674085
022 C000004 41593
022 D000004 4148
022 A000005 BT SECURITIES
022 C000005 24920
022 D000005 12380
022 A000006 FIRST BOSTON
<PAGE> PAGE 3
022 C000006 29024
022 D000006 8005
022 A000007 FORD MOTOR CORP
022 C000007 33690
022 D000007 2000
022 A000008 FIRST UNION
022 C000008 14749
022 D000008 16413
022 A000009 MORGAN STANLEY & CO
022 B000009 13-2655998
022 C000009 14220
022 D000009 9763
022 A000010 TORONTO DOMINION
022 C000010 14960
022 D000010 7670
023 C000000 507487
023 D000000 152652
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 N
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 0
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 0
028 D010000 0
028 D020000 0
028 D030000 0
<PAGE> PAGE 4
028 D040000 0
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 0
028 F010000 0
028 F020000 0
028 F030000 0
028 F040000 0
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 0
028 H000000 0
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
035 000000 0
036 B000000 0
038 000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
<PAGE> PAGE 5
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 N
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 N
054 K000000 N
054 L000000 N
054 M000000 N
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 Y
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 N
060 B000000 N
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.8
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
<PAGE> PAGE 6
062 N000000 0.0
062 O000000 0.0
062 P000000 132.0
062 Q000000 0.0
062 R000000 1.9
063 A000000 0
063 B000000 8.3
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 272229
<PAGE> PAGE 7
071 B000000 176897
071 C000000 488060
071 D000000 36
072 A000000 6
072 B000000 27636
072 C000000 298
072 D000000 0
072 E000000 0
072 F000000 2480
072 G000000 25
072 H000000 0
072 I000000 23
072 J000000 23
072 K000000 32
072 L000000 37
072 M000000 15
072 N000000 27
072 O000000 0
072 P000000 3351
072 Q000000 35
072 R000000 23
072 S000000 43
072 T000000 0
072 U000000 24
072 V000000 0
072 W000000 12
072 X000000 6150
072 Y000000 0
072 Z000000 21784
072AA000000 0
072BB000000 17929
072CC010000 53330
072CC020000 0
072DD010000 20978
072DD020000 0
072EE000000 0
073 A010000 0.4800
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 2
074 B000000 0
074 C000000 3399
074 D000000 534151
074 E000000 7718
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 8609
074 K000000 0
<PAGE> PAGE 8
074 L000000 13118
074 M000000 140
074 N000000 567137
074 O000000 750
074 P000000 859
074 Q000000 160000
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 825
074 S000000 0
074 T000000 404703
074 U010000 44007
074 U020000 0
074 V010000 9.20
074 V020000 0.00
074 W000000 0.0000
074 X000000 315
074 Y000000 454378
075 A000000 0
075 B000000 385512
076 000000 9.25
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000 1500
081 A000000 Y
081 B000000 10
082 A000000 Y
082 B000000 50
083 A000000 N
083 B000000 0
084 A000000 N
<PAGE> PAGE 9
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK
087 A020000 23322Y108
087 A030000 DHY
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE MICHELLE WHALEN
TITLE SR. ADMINISTRATOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001061353
<NAME> DLJ HIGH YIELD BOND FUND
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-1-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 546962800
<INVESTMENTS-AT-VALUE> 545268125
<RECEIVABLES> 21728034
<ASSETS-OTHER> 139535
<OTHER-ITEMS-ASSETS> 1764
<TOTAL-ASSETS> 567137458
<PAYABLE-FOR-SECURITIES> 750000
<SENIOR-LONG-TERM-DEBT> 160000000
<OTHER-ITEMS-LIABILITIES> 1684532
<TOTAL-LIABILITIES> 162434532
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 437338122
<SHARES-COMMON-STOCK> 44006543
<SHARES-COMMON-PRIOR> 43045288
<ACCUMULATED-NII-CURRENT> 843780
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (31784301)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1694675)
<NET-ASSETS> 404702926
<DIVIDEND-INCOME> 297500
<INTEREST-INCOME> 27636015
<OTHER-INCOME> 0
<EXPENSES-NET> 6149531
<NET-INVESTMENT-INCOME> 21783984
<REALIZED-GAINS-CURRENT> (17929151)
<APPREC-INCREASE-CURRENT> 53330431
<NET-CHANGE-FROM-OPS> 57185264
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20978101)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 961255
<NET-CHANGE-IN-ASSETS> 44746850
<ACCUMULATED-NII-PRIOR> 37897
<ACCUMULATED-GAINS-PRIOR> (13855150)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2479971
<INTEREST-EXPENSE> 3351291
<GROSS-EXPENSE> 6149531
<AVERAGE-NET-ASSETS> 383955915
<PER-SHARE-NAV-BEGIN> 8.36
<PER-SHARE-NII> 0.50
<PER-SHARE-GAIN-APPREC> 0.82
<PER-SHARE-DIVIDEND> 0.48
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.20
<EXPENSE-RATIO> 3.23
[AVG-DEBT-OUTSTANDING] 118259669
[AVG-DEBT-PER-SHARE] 2.70
</TABLE>
DLJ High Yield Bond Fund
10f-3 Report
July 28, 1998 - April 30, 1999
Issuer/ Trade 3 Years
Description Date Category (1) Operations
Albecca, Inc.
10 3/4% 08/15/08 08/06/98 (iv) Yes
Bell Sports Inc.
11% 08/15/08 08/10/98 (iv) Yes
NTL, Inc. 144A
11 1/2% 10/01/08 10/26/98 (iv) Yes
TeleWest Comm.
11 1/4% 11/01/08 10/28/98 (i) Yes
NTL, Inc.
10/01/08` 10/30/98 (i) Yes
Fischer Scientific
9% 02/01/08 11/10/98 (i) Yes
Esat Telecom
11.875% 12/01/08 11/20/98 (i) Yes
Metromedia Fiber
10% 11/15/08 11/20/98 (i) Yes
Verio, Inc.
11 1/4% 12/01/08 11/20/98 (i) Yes
Neff Corp.
10 1/4% 06/01/08 12/02/98 (i) Yes
Premier Graphics
11 1/2% 12/01/05 12/08/98 (i) Yes
Allied Waste NA
7.875% 01/01/09 12/14/98 (i) Yes
EchoStar UBS Corp.
9.375% 02/01/09 01/15/99 (iv) Yes
Nat'l Wine & Spirit
10.125% 01/15/09 01/20/99 (iv) Yes
Emmis Comm.
Corp.
8.125% 03/15/09 02/09/99 (iii)(iv) Yes
Amer Axle & Mfg
9.750% 03/01/09 03/02/99 (iv) Yes
Charter Comm.
Holdings, LLC
8.625% 04/01/09 03/12/99 (iv) Yes
Charter Comm.
Holdings, LLC
9.920% 04/01/11 03/12/99 (iv) Yes
Jordan Industries
10.375% 08/01/07 03/17/99 (iv) Yes
Telewest Comm.
9.125% 4/15/09 04/1/99 (iv) Yes
Fairchild Corp.
10.750% 4/15/09 04/15/99 (iv) Yes
Purch.
Issuer Seller Face Price per % of
Broker Amount Share Issue (2)
Albecca, Inc.
10 3/4% 08/15/08 MSCO $5 Million 100 2.5%
Bell Sports Inc. NATF $5 Million 100 4.5%
11% 08/15/08
NTL, Inc. 144A MSCO $5 Million 100 0.8%
11 1/2% 10/01/08
TeleWest Comm. Toronto $1 Million 100 0.29%
11 1/4% 11/01/08 Dominion
NTL, Inc. MSCO $1,110100 55.51 0.32%
10/01/08`
Fischer Scientific
9% 02/01/08 CHASE $482,500 96.50 0.125%
Esat Telecom 1st BOS $3 Million 100 1.88%
11.875% 12/01/08
Metromedia Fiber S. Barney $1 Million 100 0.15%
10% 11/15/08
Verio, Inc. S. Barney $1 Million 100 0.25%
11 1/4% 12/01/08
Neff Corp. BT Sec. $2,955,480 98.516 3%
10 1/4% 06/01/08
Premier Graphics Pru.Sec. $4 Million 100 3.08%
11 1/2% 12/01/05
Allied Waste NA
7.875% 01/01/09 Goldman $998,260 99.826 0.11%
EchoStar UBS Corp. Lehman
9.375% 02/01/09 Bros $5 Million 100 0.31%
Nat'l Wine & Spirit 1st
10.125% 01/15/09 Chicago $2 Million 100 1.82%
Emmis Comm. Goldman
Corp. Sachs & Co. $500,000 100 0.17%
8.125% 03/15/09
Amer Axle & Mfg Chase $3 Million 99.22 1.0%
9.750% 03/01/09
Charter Comm. Goldman
Holdings, LLC Sachs & Co. $3 Million 99.695 0.2%
8.625% 04/01/09
Charter Comm. Goldman
Holdings, LLC Sachs & Co. $6.5 Million 61.394 0.44%
9.920% 04/01/11
Jordan Industries Bank Boston $4.5 Million 96.620 2.9%
10.375% 08/01/07
Telewest Comm. S. Barney $1.5 Million 63.628 0.3%
9.125% 4/15/09
Fairchild Corp. 1st BOS $7 Million 100 3.11%
10.750% 4/15/09
(1) Securities are (i) part of an issue registered under the Securities
Act of 1933 (the "1933 Act") that is being offered to the public, (ii)
Eligible Municipal Securities (as defined in Rule 10f-3 under the 1940 Act
(the "Rule")), (iii) securities sold in an Eligible foreign Offering
(as defined in the Rule), or (iv) securities sold in an Eligible Rule
144A Offering (as defined in the Rule).
(2) Represents purchases by all affiliated funds: may not exceed (i) if
an offering other than an Eligible Rule 144A offering, 25% of the
principal amount of the offering or (ii) if an Eligible Rule 144A
offering, 25% of the total of (x) the principal amount of the
offering of such class sold by underwriters of members of the
selling syndicate to Qualified Institutional Buyers, as defined in
Rule 144A (a)(1) under the 1933 Act, plus (y) the principal amount
of the offering of such class in any concurrent public offering.
