UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM N-PX

 ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY



Investment Company Act file number:                                    811-2849

Exact name of registrant as specified in charter:                      Oppenheimer High Yield Fund

Address of principal executive offices:                                6803 South Tucson Way
                                                                       Centennial, CO 80112

Name and address of agent for service:                                 Two World Financial Center
                                                                       225 Liberty Street
                                                                       New York, NY 10281-1008

Registrant's telephone number, including area code:                    303-768-3200

Date of fiscal year end:                                               6/30

Date of reporting period:                                              07/01/2005-06/30/2006

Item 1.           Proxy Voting Record


******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-02849
Reporting Period: 07/01/2005 - 06/30/2006
Oppenheimer High Yield Fund









========================= OPPENHEIMER HIGH YIELD FUND ==========================


ADELPHIA COMMUNICATIONS CORP.

Ticker:       ADELQ          Security ID:  006848AP0
Meeting Date: MAY 14, 2006   Meeting Type: Written Consent
Record Date:  NOV 28, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     DEBTORS  FOURTH AMENDED JOINT PLAN OF     None      For        Management
      REORGANIZATION UNDER CHAPTER 11 OF THE
      BANKRUPTCY CODE DATED NOVEMBER 21, 2005.M


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ADELPHIA COMMUNICATIONS CORP.

Ticker:       ADELQ          Security ID:  006848AU9
Meeting Date: MAY 14, 2006   Meeting Type: Written Consent
Record Date:  NOV 28, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     DEBTORS  FOURTH AMENDED JOINT PLAN OF     None      For        Management
      REORGANIZATION UNDER CHAPTER 11 OF THE
      BANKRUPTCY CODE DATED NOVEMBER 21, 2005.M


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ADELPHIA COMMUNICATIONS CORP.

Ticker:       ADELQ          Security ID:  006848AW5
Meeting Date: MAY 14, 2006   Meeting Type: Written Consent
Record Date:  NOV 28, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     DEBTORS  FOURTH AMENDED JOINT PLAN OF     None      For        Management
      REORGANIZATION UNDER CHAPTER 11 OF THE
      BANKRUPTCY CODE DATED NOVEMBER 21, 2005.M


--------------------------------------------------------------------------------

ADELPHIA COMMUNICATIONS CORP.

Ticker:       ADELQ          Security ID:  006848BF1
Meeting Date: MAY 14, 2006   Meeting Type: Written Consent
Record Date:  NOV 28, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     DEBTORS  FOURTH AMENDED JOINT PLAN OF     None      For        Management
      REORGANIZATION UNDER CHAPTER 11 OF THE
      BANKRUPTCY CODE DATED NOVEMBER 21, 2005.M


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ADELPHIA COMMUNICATIONS CORP.

Ticker:       ADELQ          Security ID:  006848BJ3
Meeting Date: MAY 14, 2006   Meeting Type: Written Consent
Record Date:  NOV 28, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     DEBTORS  FOURTH AMENDED JOINT PLAN OF     None      For        Management
      REORGANIZATION UNDER CHAPTER 11 OF THE
      BANKRUPTCY CODE DATED NOVEMBER 21, 2005.M


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AMERICAN TOWER CORP.

Ticker:       AMT            Security ID:  029912201
Meeting Date: MAY 11, 2006   Meeting Type: Annual
Record Date:  MAR 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Raymond P. Dolan           For       For        Management
1.2   Elect Director Carolyn F. Katz            For       For        Management
1.3   Elect Director Gustavo Lara Cantu         For       For        Management
1.4   Elect Director Fred R. Lummis             For       For        Management
1.5   Elect Director Pamela D.A. Reeve          For       For        Management
1.6   Elect Director James D. Taiclet, Jr.      For       For        Management
1.7   Elect Director Samme L. Thompson          For       For        Management
2     Ratify Auditors                           For       For        Management


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ATA HOLDINGS CORP

Ticker:                      Security ID:  00209HAC5
Meeting Date: MAY 19, 2006   Meeting Type: Written Consent
Record Date:  APR 13, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE SECOND AMENDED PLAN OF LIQUIDATION.   For       Did Not    Management
                                                          Vote


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ATA HOLDINGS CORP

Ticker:                      Security ID:  00209HAD3
Meeting Date: MAY 19, 2006   Meeting Type: Written Consent
Record Date:  APR 13, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE SECOND AMENDED PLAN OF LIQUIDATION.   For       Did Not    Management
                                                          Vote


--------------------------------------------------------------------------------

BROADWING CORP

Ticker:       BWNG           Security ID:  11161E101
Meeting Date: MAY 12, 2006   Meeting Type: Annual
Record Date:  MAR 20, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director David R. Huber, Ph.D.      For       For        Management
1.2   Elect Director John Morton, III           For       For        Management
2     Ratify Auditors                           For       For        Management


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CHESAPEAKE ENERGY CORP.

Ticker:       CHK            Security ID:  165167107
Meeting Date: JUN 9, 2006    Meeting Type: Annual
Record Date:  APR 17, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Richard K. Davidson        For       For        Management
1.2   Elect Director Breene M. Kerr             For       For        Management
1.3   Elect Director Charles T. Maxwell         For       For        Management
2     Increase Authorized Common Stock          For       For        Management
3     Amend Omnibus Stock Plan                  For       For        Management


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CITIGROUP INC.

Ticker:       C              Security ID:  172967101
Meeting Date: APR 18, 2006   Meeting Type: Annual
Record Date:  FEB 24, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director C. Michael Armstrong       For       Did Not    Management
                                                          Vote
1.2   Elect Director Alain J.P. Belda           For       Did Not    Management
                                                          Vote
1.3   Elect Director George David               For       Did Not    Management
                                                          Vote
1.4   Elect Director Kenneth T. Derr            For       Did Not    Management
                                                          Vote
1.5   Elect Director John M. Deutch             For       Did Not    Management
                                                          Vote
1.6   Elect Director Roberto Hernandez Ramirez  For       Did Not    Management
                                                          Vote
1.7   Elect Director Ann Dibble Jordan          For       Did Not    Management
                                                          Vote
1.8   Elect Director Klaus Kleinfeld            For       Did Not    Management
                                                          Vote
1.9   Elect Director Andrew N. Liveris          For       Did Not    Management
                                                          Vote
1.10  Elect Director Dudley C. Mecum            For       Did Not    Management
                                                          Vote
1.11  Elect Director Anne M. Mulcahy            For       Did Not    Management
                                                          Vote
1.12  Elect Director Richard D. Parsons         For       Did Not    Management
                                                          Vote
1.13  Elect Director Charles Prince             For       Did Not    Management
                                                          Vote
1.14  Elect Director Dr. Judith Rodin           For       Did Not    Management
                                                          Vote
1.15  Elect Director Robert E. Rubin            For       Did Not    Management
                                                          Vote
1.16  Elect Director Franklin A. Thomas         For       Did Not    Management
                                                          Vote
2     Ratify Auditors                           For       Did Not    Management
                                                          Vote
3     Reduce Supermajority Vote Requirement     For       Did Not    Management
                                                          Vote
4     Reduce Supermajority Vote Requirement     For       Did Not    Management
                                                          Vote
5     Reduce Supermajority Vote Requirement     For       Did Not    Management
                                                          Vote
6     End Issuance of Options and Prohibit      Against   Did Not    Shareholder
      Repricing                                           Vote
7     Report on Political Contributions         Against   Did Not    Shareholder
                                                          Vote
8     Report on Charitable Contributions        Against   Did Not    Shareholder
                                                          Vote
9     Performance-Based Equity Awards           Against   Did Not    Shareholder
                                                          Vote
10    Reimbursement of Expenses Incurred by     Against   Did Not    Shareholder
      Shareholder(s)                                      Vote
11    Separate Chairman and CEO Positions       Against   Did Not    Shareholder
                                                          Vote
12    Clawback of Payments Under Restatement    Against   Did Not    Shareholder
                                                          Vote


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COVAD COMMUNICATIONS GROUP, INC

Ticker:       DVW            Security ID:  222814204
Meeting Date: JUN 15, 2006   Meeting Type: Annual
Record Date:  APR 18, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Larry Irving               For       For        Management
1.2   Elect Director Richard A. Jalkut          For       For        Management
1.3   Elect Director Daniel C. Lynch            For       For        Management
2     Ratify Auditors                           For       For        Management


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DOW CHEMICAL COMPANY, THE

Ticker:       DOW            Security ID:  260543103
Meeting Date: MAY 11, 2006   Meeting Type: Annual
Record Date:  MAR 13, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Jacqueline K. Barton       For       For        Management
1.2   Elect Director James A. Bell              For       For        Management
1.3   Elect Director Barbara Hackman Franklin   For       For        Management
1.4   Elect Director Andrew N. Liveris          For       For        Management
1.5   Elect Director Geoffery E. Merszei        For       For        Management
1.6   Elect Director J. Pedro Reinhard          For       For        Management
1.7   Elect Director Ruth G. Shaw               For       For        Management
1.8   Elect Director Paul G. Stern              For       For        Management
2     Ratify Auditors                           For       For        Management
3     Report on Remediation Policies in Bhopal  Against   Abstain    Shareholder
4     Report on Genetically Modified Organisms  Against   Abstain    Shareholder
5     Evaluate Potential Links Between Company  Against   Abstain    Shareholder
      Products and Asthma
6     Report on Security of Chemical Facilities Against   Abstain    Shareholder


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EAGLEPICHER, INC

Ticker:                      Security ID:  270039AB6
Meeting Date: MAR 30, 2006   Meeting Type: Written Consent
Record Date:  MAR 3, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE DEBTORS JOINT PLAN OF REORGANIZATION  For       For        Management


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GLOBIX CORP.

Ticker:       GBIXQ          Security ID:  37957F200
Meeting Date: FEB 28, 2006   Meeting Type: Annual
Record Date:  JAN 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Ted S. Lodge               For       For        Management
1.2   Elect Director Peter K. Stevenson         For       For        Management
1.3   Elect Director Jose A. Cecin, Jr.         For       For        Management
1.4   Elect Director Stephen E. Courter         For       For        Management
1.5   Elect Director John H. Forsgren           For       For        Management
1.6   Elect Director Peter L. Herzig            For       Withhold   Management
1.7   Elect Director Steven G. Lampe            For       For        Management
1.8   Elect Director Steven G. Singer           For       For        Management
1.9   Elect Director Raymond L. Steele          For       For        Management
2     Amend Stock Option Plan                   For       Against    Management
3     Approve Stock Option Plan Grants          For       Against    Management
4     Ratify Auditors                           For       For        Management


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GLOBIX CORP.

Ticker:       GBIXQ          Security ID:  37957F200
Meeting Date: SEP 30, 2005   Meeting Type: Annual
Record Date:  AUG 1, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Peter K. Stevenson         For       For        Management
1.2   Elect Director Wayne Barr, Jr.            For       For        Management
1.3   Elect Director Jose A. Cecin, Jr.         For       For        Management
1.4   Elect Director Stephen E. Courter         For       For        Management
1.5   Elect Director John Forsgren              For       For        Management
1.6   Elect Director Peter L. Herzig            For       For        Management
1.7   Elect Director Steven Lampe               For       For        Management
1.8   Elect Director Steven G. Singer           For       For        Management
1.9   Elect Director Raymond Steele             For       For        Management
2     Ratify Auditors                           For       For        Management


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GRAND CASINOS, INC.

Ticker:                      Security ID:  700690AH3
Meeting Date: JUL 22, 2005   Meeting Type: Written Consent
Record Date:  JUL 8, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     PROPOSED AMENDMENTS TO THE INDENTURES AND For       Did Not    Management
      THE ISSUANCE OF THE GUARANTEES                      Vote


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GRAND CASINOS, INC.

Ticker:                      Security ID:  700690AQ3
Meeting Date: JUL 22, 2005   Meeting Type: Written Consent
Record Date:  JUL 8, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     PROPOSED AMENDMENTS TO THE INDENTURES AND For       Did Not    Management
      THE ISSUANCE OF THE GUARANTEES                      Vote


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IWO HOLDINGS, INC.

Ticker:                      Security ID:  45071TAF2
Meeting Date: MAR 20, 2006   Meeting Type: Written Consent
Record Date:  MAR 2, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE PROPOSED AMENDMENTS                   None      Did Not    Management
                                                          Vote


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KAISER ALUMINUM & CHEMICAL CORPORATION

Ticker:                      Security ID:  483008AK4
Meeting Date: NOV 14, 2005   Meeting Type: Written Consent
Record Date:  AUG 29, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     PLAN OF REORGANIZATION                    For       For        Management


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LEAP WIRELESS INTERNATIONAL, INC.

Ticker:       LEAP           Security ID:  521863308
Meeting Date: MAY 18, 2006   Meeting Type: Annual
Record Date:  MAR 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director James D. Dondero           For       For        Management
1.2   Elect Director John D. Harkey, Jr.        For       For        Management
1.3   Elect Director S. Douglas Hutcheson       For       For        Management
1.4   Elect Director Robert V. LaPenta          For       For        Management
1.5   Elect Director Mark H. Rachesky, M.D.     For       For        Management
1.6   Elect Director Michael B. Targoff         For       For        Management
2     Ratify Auditors                           For       For        Management


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LEAP WIRELESS INTERNATIONAL, INC.

Ticker:       LEAP           Security ID:  521863308
Meeting Date: SEP 15, 2005   Meeting Type: Annual
Record Date:  AUG 1, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director James D. Dondero           For       For        Management
1.2   Elect Director John D. Harkey, Jr.        For       For        Management
1.3   Elect Director S. Douglas Hutcheson       For       For        Management
1.4   Elect Director Robert V. Lapenta          For       For        Management
1.5   Elect Director Mark H. Rachesky           For       For        Management
1.6   Elect Director Michael B. Targoff         For       For        Management
2     Approve Qualified Employee Stock Purchase For       For        Management
      Plan


--------------------------------------------------------------------------------

LIBERTY GLOBAL INC.

Ticker:       LBTYA          Security ID:  530555101
Meeting Date: JUN 22, 2006   Meeting Type: Annual
Record Date:  APR 26, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director John P. Cole, Jr.          For       For        Management
1.2   Elect Director David E. Rapley            For       For        Management
1.3   Elect Director Gene W. Schneider          For       For        Management
2     Ratify Auditors                           For       For        Management


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LORAL ORION NETWORK SYSTEMS, INC.

Ticker:                      Security ID:  68628KAD6
Meeting Date: JUL 8, 2005    Meeting Type: Written Consent
Record Date:  JUN 2, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     CHAPTER 11 PLAN OF REORGANIZATION         For       Did Not    Management
                                                          Vote


--------------------------------------------------------------------------------

MAGELLAN HEALTH SERVICES, INC.

Ticker:       MGLN           Security ID:  559079207
Meeting Date: MAY 16, 2006   Meeting Type: Annual
Record Date:  MAR 27, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Barry M. Smith             For       For        Management
1.2   Elect Director Rene Lerer, M.D.           For       For        Management
2     Approve Omnibus Stock Plan                For       For        Management
3     Approve Non-Employee Director Omnibus     For       For        Management
      Stock Plan
4     Approve Qualified Employee Stock Purchase For       For        Management
      Plan
5     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

MANITOWOC COMPANY, INC., THE

Ticker:       MTW            Security ID:  563571108
Meeting Date: MAY 2, 2006    Meeting Type: Annual
Record Date:  FEB 22, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Daniel W. Duval            For       For        Management
1.2   Elect Director James L. Packard           For       For        Management
1.3   Elect Director Terry D. Growcock          For       For        Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

MCI INC.

Ticker:       MCIP           Security ID:  552691107
Meeting Date: OCT 6, 2005    Meeting Type: Proxy Contest
Record Date:  AUG 30, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Merger Agreement                  For       Did Not    Management
                                                          Vote
2     Adjourn Meeting                           For       Did Not    Management
                                                          Vote
1     Approve Merger Agreement                  Against   Did Not    Management
                                                          Vote
2     Other Business                            For       Did Not    Management
                                                          Vote
3     Adjourn Meeting                           For       Did Not    Management
                                                          Vote


--------------------------------------------------------------------------------

NAVIGATOR GAS TRANS PLC

Ticker:                      Security ID:  63935KAA1
Meeting Date: MAR 28, 2006   Meeting Type: Written Consent
Record Date:  FEB 10, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Appoint Chairman of Meeting               None      For        Management


--------------------------------------------------------------------------------

ORBITAL SCIENCES CORP.

Ticker:       ORB            Security ID:  685564106
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:  MAR 8, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Robert M. Hanisee          For       For        Management
1.2   Elect Director James G. Roche             For       For        Management
1.3   Elect Director Harrison H. Schmitt        For       For        Management
1.4   Elect Director James R. Thompson          For       For        Management
1.5   Elect Director Scott L. Webster           For       For        Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

POLYMER GROUP, INC.

Ticker:       POLGA          Security ID:  731745204
Meeting Date: MAY 23, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Pedro A. Arias             For       For        Management
1.2   Elect Director Ramon Betolaza             For       Withhold   Management
1.3   Elect Director Michael Watzky             For       Withhold   Management
1.4   Elect Director Lap Wai Chan               For       Withhold   Management
1.5   Elect Director William B. Hewitt          For       Withhold   Management
1.6   Elect Director Eugene Linden              For       For        Management
1.7   Elect Director James A. Ovenden           For       For        Management
1.8   Elect Director James L. Schaeffer         For       Withhold   Management
1.9   Elect Director Charles E. Volpe           For       For        Management
2     Approve Restricted Stock Plan             For       For        Management


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STERLING CHEMICALS, INC.

Ticker:       SCHI           Security ID:  859166100
Meeting Date: APR 21, 2006   Meeting Type: Annual
Record Date:  MAR 3, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Richard K. Crump           For       Withhold   Management
1.2   Elect Director Dr. Peter Ting Kai Wu      For       Withhold   Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

TVMAX HOLDINGS, INC.

Ticker:                      Security ID:  87307X104
Meeting Date: APR 26, 2006   Meeting Type: Annual
Record Date:  MAR 10, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Steven G. Singer           For       Withhold   Management
1.2   Elect Director D. R. Edge, Jr.            For       Withhold   Management
1.3   Elect Director Jeffrey A. Brodsky         For       Withhold   Management
1.4   Elect Director Lauren M. Kreuter          For       Withhold   Management
1.5   Elect Director Seth P. Plattus            For       Withhold   Management
2     Reduce Authorized Common Stock            For       For        Management


--------------------------------------------------------------------------------

US UNWIRED INC.

Ticker:                      Security ID:  90338RAG9
Meeting Date: FEB 27, 2006   Meeting Type: Written Consent
Record Date:  FEB 9, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     PROPOSED AMENDMENTS                       None      Did Not    Management
                                                          Vote


--------------------------------------------------------------------------------

VERIZON COMMUNICATIONS

Ticker:       VZ             Security ID:  92343V104
Meeting Date: MAY 4, 2006    Meeting Type: Annual
Record Date:  MAR 6, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director James R. Barker            For       For        Management
1.2   Elect Director Richard L. Carrion         For       For        Management
1.3   Elect Director Robert W. Lane             For       For        Management
1.4   Elect Director Sandra O. Moose            For       For        Management
1.5   Elect Director Joseph Neubauer            For       Withhold   Management
1.6   Elect Director Donald T. Nicolaisen       For       For        Management
1.7   Elect Director Thomas H. O'Brien          For       For        Management
1.8   Elect Director Clarence Otis, Jr.         For       For        Management
1.9   Elect Director Hugh B. Price              For       For        Management
1.10  Elect Director Ivan G. Seidenberg         For       For        Management
1.11  Elect Director Walter V. Shipley          For       For        Management
1.12  Elect Director John R. Stafford           For       For        Management
1.13  Elect Director Robert D. Storey           For       For        Management
2     Ratify Auditors                           For       For        Management
3     Restore or Provide for Cumulative Voting  Against   Against    Shareholder
4     Require a Majority Vote for the Election  Against   Against    Shareholder
      of Directors
5     Require Majority of Independent Directors Against   Against    Shareholder
      on Board
6     Company-Specific-Directors on Common      Against   Against    Shareholder
      Boards
7     Separate Chairman and CEO Positions       Against   For        Shareholder
8     Performance-Based and/or Time-Based       Against   Against    Shareholder
      Equity Awards
9     Report on Political Contributions         Against   Abstain    Shareholder


--------------------------------------------------------------------------------

VIATEL HOLDING BERMUDA LTD

Ticker:       VTLAF          Security ID:  G93447103
Meeting Date: DEC 7, 2005    Meeting Type: Annual
Record Date:  NOV 3, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Ratify Deloitte and Touche (London) as    For       For        Management
      Auditors
3     Authorize Board to Fix Remuneration of    For       For        Management
      the Auditors
4     Elect Didier Delepine as Director         For       For        Management
5     Elect S. Dennis Belcher as Director       For       For        Management
6     Elect Thomas Doster as Director           For       For        Management
7     Elect Leslie Goodman as Director          For       For        Management
8     Elect Edward Greenberg as Director        For       Against    Management
9     Elect Kevin Power as Director             For       For        Management
10    Elect Lucy Woods as Director              For       For        Management


--------------------------------------------------------------------------------

VIATEL HOLDING BERMUDA LTD

Ticker:       VTLAF          Security ID:  G93447103
Meeting Date: JUN 7, 2006    Meeting Type: Special
Record Date:  MAY 15, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THAT THE TRANSFER OF (I) ONE-HALF OF      For       Did Not    Management
      CERTAIN OF THE COMPANY S EUROPEAN LONG              Vote
      HAUL NETWORK ASSETS; (II) ALL OF THE
      COMPANY S LONG HAUL NETWORK ASSETS IN
      GERMANY FORMING THE NETWORK STRETCH KNOWN
      AS PEN 3; AND (III) CERTAIN REVENUES
      LINKED TO SPECIFIED EXIS
2     THAT ANY ONE DIRECTOR OR OFFICER OF THE   For       Did Not    Management
      COMPANY BE AND HEREBY IS AUTHORISED TO              Vote
      TAKE ALL NECESSARY OR DESIRABLE STEPS TO
      NEGOTIATE, CONCLUDE, IMPLEMENT, EXECUTE
      AND GIVE EFFECT TO ANY DOCUMENT, DEED,
      ACT OR THING PURSUANT TO OR OTHERWISE IN
      CONNECTION WIT
3     THAT ANY AND ALL ACTIONS OF THE DIRECTORS For       Did Not    Management
      AND OFFICERS OF THE COMPANY ACTING                  Vote
      INDIVIDUALLY OR TOGETHER WITH ANOTHER TO
      DATE IN CONNECTION WITH THE TRANSACTION
      BE AND ARE HEREBY APPROVED, RATIFIED,
      CONFIRMED AND ADOPTED IN ALL RESPECTS AS
      ACTIONS TAKEN FOR


--------------------------------------------------------------------------------

VIATEL HOLDING BERMUDA LTD

Ticker:       VTLAF          Security ID:  G93447103
Meeting Date: NOV 22, 2005   Meeting Type: Special
Record Date:  OCT 27, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THAT THE SALE OF CYBERNET (SCHWEIZ) AG (  For       Against    Management
      CYBERNET ), TO SWISSCOM FIXNET AG (
      SWISSCOM ) BY VIATEL HOLDING (EUROPE)
      LIMITED (A WHOLLY OWNED SUBSIDIARY OF THE
      COMPANY), AS DESCRIBED IN THE CHAIRMAN S
      LETTER CIRCULATED TO THE SHAREHOLDERS OF
      THE COMPANY AND
2     THAT ANY ONE DIRECTOR OR OFFICER OF THE   For       Against    Management
      COMPANY BE AND HEREBY IS AUTHORIZED TO
      TAKE ALL NECESSARY OR DESIRABLE STEPS TO
      NEGOTIATE, CONCLUDE, IMPLEMENT, EXECUTE
      AND GIVE EFFECT TO ANY DOCUMENT, DEED,
      ACT OR THING PURSUANT TO OR OTHERWISE IN
      CONNECTION WIT
3     THAT ANY AND ALL ACTIONS OF THE DIRECTORS For       Against    Management
      AND OFFICERS OF THE COMPANY ACTING
      INDIVIDUALLY OR TOGETHER WITH ANOTHER TO
      DATE IN CONNECTION WITH THE SALE BE AND
      ARE HEREBY APPROVED, RATIFIED, CONFIRMED
      AND ADOPTED IN ALL RESPECTS AS ACTIONS
      TAKEN FOR AND ON


--------------------------------------------------------------------------------

WESTERN FOREST PRODUCTS

Ticker:       WEF.           Security ID:  958211203
Meeting Date: JUN 16, 2006   Meeting Type: Annual/Special
Record Date:  MAY 10, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Fix Number of Directors at Eight          For       For        Management
2.1   Elect James Arthurs as Director           For       For        Management
2.2   Elect Lee Doney as Director               For       For        Management
2.3   Elect Dominic Gammiero as Director        For       For        Management
2.4   Elect Robert Harding as Director          For       For        Management
2.5   Elect Reynold Hert as Director            For       For        Management
2.6   Elect John MacIntyre as Director          For       For        Management
2.7   Elect Cyrus Madon as Director             For       For        Management
2.8   Elect John Newman as Director             For       For        Management
3     Ratify KPMG as Auditors                   For       For        Management
4     Authorize Board to Fix Remuneration of    For       For        Management
      Auditors
5     Adopt Bylaw No. 1                         For       Against    Management
6     Approve Issuance of Non-Voting Shares     For       For        Management


--------------------------------------------------------------------------------

XO HOLDINGS, INC.

Ticker:       XOHO           Security ID:  98417K106
Meeting Date: JUN 21, 2006   Meeting Type: Annual
Record Date:  MAY 22, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Carl C. Icahn              For       Withhold   Management
1.2   Elect Director Carl J. Grivner            For       Withhold   Management
1.3   Elect Director Jon F. Weber               For       Withhold   Management
1.4   Elect Director Adam Dell                  For       For        Management
1.5   Elect Director Fredrik C. Gradin          For       For        Management
1.6   Elect Director Vincent J. Intrieri        For       Withhold   Management
1.7   Elect Director Robert L. Knauss           For       For        Management
1.8   Elect Director Keith Meister              For       Withhold   Management

========== END NPX REPORT


                                   SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant):               Oppenheimer High Yield Fund

By (Signature and Title)*:  /s/ John V. Murphy
                            ------------------
                            John V. Murphy, President

Date:  August 18, 2006

*By:   /s/ Randy Legg
       --------------
       Randy Legg, Attorney in Fact