<PAGE> PAGE 1
000 B000000 12/31/94
000 C000000 0000793666
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 FIRST INVESTORS HIGH YIELD FUND, INC.
001 B000000 811-4674
001 C000000 2128588000
002 A000000 95 WALL STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10005
003 000000 N
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
018 000000 Y
019 A000000 Y
019 B000000 46
019 C000000 FIRSTINVES
020 C000001 0
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 0
022 A000001 MERRILL LYNCH PIERCE FENNER & SMITH INC.
022 B000001 13-5674085
022 C000001 106523
022 D000001 27
<PAGE> PAGE 2
022 A000002 FIRST CHICAGO
022 B000002 36-3595942
022 C000002 74246
022 D000002 0
022 A000003 SHEARSON LEHMAN BROTHERS INC.
022 B000003 13-2518466
022 C000003 67611
022 D000003 0
022 A000004 GENERAL ELECTRIC CREDIT CORP
022 B000004 13-1500700
022 C000004 33222
022 D000004 0
022 A000005 INTERNATIONAL BUSINESS MACHINES
022 B000005 13-0871985
022 C000005 23233
022 D000005 0
022 A000006 CIGNA CORP.
022 B000006 12-5509109
022 C000006 22226
022 D000006 0
022 A000007 CITICORP
022 B000007 13-3187336
022 C000007 21652
022 D000007 3
022 A000008 ITT FINANCIAL INC.
022 B000008 43-1154164
022 C000008 15984
022 D000008 0
022 A000009 FORD MOTOR CREDIT CORP
022 B000009 38-1912444
022 C000009 9492
022 D000009 0
022 A000010 SMITH BARNEY HARRIS UPHAM & CO., INC.
022 B000010 13-1912900
022 C000010 8558
022 D000010 30
023 C000000 402474
023 D000000 123
024 000000 N
028 A010000 658
028 A020000 1053
028 A030000 0
028 A040000 1504
028 B010000 517
028 B020000 1056
028 B030000 0
028 B040000 2438
028 C010000 518
028 C020000 1052
028 C030000 0
028 C040000 1810
<PAGE> PAGE 3
028 D010000 1271
028 D020000 1050
028 D030000 0
028 D040000 2456
028 E010000 883
028 E020000 1049
028 E030000 0
028 E040000 1816
028 F010000 709
028 F020000 2101
028 F030000 0
028 F040000 2096
028 G010000 4556
028 G020000 7361
028 G030000 0
028 G040000 12120
028 H000000 844
029 000000 Y
030 A000000 175
030 B000000 6.25
030 C000000 0.00
031 A000000 76
031 B000000 0
032 000000 3
033 000000 96
035 000000 0
036 B000000 0
042 A000000 0
042 B000000 0
042 C000000 72
042 D000000 0
042 E000000 28
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 294
044 000000 0
055 A000000 Y
055 B000000 N
056 000000 N
057 000000 N
061 000000 1000
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 4.4
<PAGE> PAGE 4
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 2.3
062 N000000 0.0
062 O000000 0.0
062 P000000 86.2
062 Q000000 0.0
062 R000000 6.0
063 A000000 0
063 B000000 8.0
064 A000000 N
064 B000000 Y
065 000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
071 A000000 54444
071 B000000 58264
071 C000000 171142
071 D000000 32
072 A000000 12
072 B000000 19406
072 C000000 236
072 D000000 0
072 E000000 245
072 F000000 1802
072 G000000 0
072 H000000 0
072 I000000 584
072 J000000 0
072 K000000 0
072 L000000 100
072 M000000 0
072 N000000 0
072 O000000 1
072 P000000 0
072 Q000000 0
072 R000000 33
072 S000000 12
072 T000000 294
072 U000000 0
072 V000000 0
072 W000000 45
072 X000000 2871
072 Y000000 66
072 Z000000 17082
072AA000000 847
072BB000000 0
<PAGE> PAGE 5
072CC010000 0
072CC020000 17368
072DD010000 17023
072DD020000 0
072EE000000 0
073 A010000 0.4800
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 467
074 B000000 0
074 C000000 7492
074 D000000 152717
074 E000000 2888
074 F000000 5398
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 3649
074 M000000 59
074 N000000 172670
074 O000000 1000
074 P000000 233
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1038
074 S000000 0
074 T000000 170399
074 U010000 35225
074 U020000 0
074 V010000 4.84
074 V020000 0.00
074 W000000 0.0000
074 X000000 27819
074 Y000000 0
075 A000000 0
075 B000000 180163
076 000000 0.00
077 A000000 Y
077 B000000 N
077 C000000 Y
077 D000000 N
077 E000000 Y
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
<PAGE> PAGE 6
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
080 A000000 GULF INSURANCE GROUP/CNA INSURANCE COMPANIES
080 B000000 ICI MUTUAL
080 C000000 25000
081 A000000 Y
081 B000000 49
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE JOSEPH I. BENEDEK
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000793666
<NAME> FIRST INVESTORS HIGH YIELD FUND, INC.
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-1-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 191915
<INVESTMENTS-AT-VALUE> 168495
<RECEIVABLES> 3649
<ASSETS-OTHER> 526
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 172670
<PAYABLE-FOR-SECURITIES> 1000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1271
<TOTAL-LIABILITIES> 2271
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 629648
<SHARES-COMMON-STOCK> 35225
<SHARES-COMMON-PRIOR> 36087
<ACCUMULATED-NII-CURRENT> 2331
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (438161)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (23419)
<NET-ASSETS> 170399
<DIVIDEND-INCOME> 236
<INTEREST-INCOME> 19406
<OTHER-INCOME> 245
<EXPENSES-NET> (2805)
<NET-INVESTMENT-INCOME> 17082
<REALIZED-GAINS-CURRENT> 847
<APPREC-INCREASE-CURRENT> (17369)
<NET-CHANGE-FROM-OPS> 561
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17023)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1432
<NUMBER-OF-SHARES-REDEEMED> 4798
<SHARES-REINVESTED> 2504
<NET-CHANGE-IN-ASSETS> (20930)
<ACCUMULATED-NII-PRIOR> 2272
<ACCUMULATED-GAINS-PRIOR> (439008)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1802
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2871
<AVERAGE-NET-ASSETS> 180163
<PER-SHARE-NAV-BEGIN> 5.3
<PER-SHARE-NII> .48
<PER-SHARE-GAIN-APPREC> (.46)
<PER-SHARE-DIVIDEND> .48
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 4.84
<EXPENSE-RATIO> 1.56
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>