PRFHX Holdings — T. Rowe Price Tax-Free High Yield Fund
Data updated: 2026-07-28
PRFHX holds 1,069 securities. The top 10 make up 8.7% of net assets, led by Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue (1.67%) and Buckeye Tobacco Settlement Financing Authority (1.58%). Municipal Bonds (99.6%) and Materials (0.0%) are the largest sectors, and 89.3% of the portfolio is in United States. Debt holdings: 1,064 positions, 98.3% of assets.
Holdings cover 99.13% of net asset value (98.45% of total assets; remainder is cash and receivables). As of May 31, 2026 · N-PORT.
PRFHX Portfolio Holdings
1,069 holdings of T. Rowe Price Tax-Free High Yield Fund by percentage of net assets, from the fund's SEC N-PORT filing as of May 31, 2026. The 100 largest are listed below; the interactive table on this page lists all 1,069.
| Holding | Ticker | Sector | % of net assets | Value (USD) |
|---|---|---|---|---|
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | — | Municipal Bonds | 1.67% | $60.39M |
| Buckeye Tobacco Settlement Financing Authority | — | Municipal Bonds | 1.58% | $57.06M |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | — | Municipal Bonds | 1.08% | $39.26M |
| Metropolitan Pier & Exposition Authority | — | Municipal Bonds | 0.98% | $35.36M |
| Golden State Tobacco Securitization Corp. | — | Municipal Bonds | 0.74% | $26.77M |
| Tobacco Settlement Financing Corp. | — | Municipal Bonds | 0.59% | $21.51M |
| Commonwealth of Puerto Rico | — | Municipal Bonds | 0.56% | $20.41M |
| California Community Housing Agency | — | Municipal Bonds | 0.50% | $18.19M |
| Public Finance Authority | — | Municipal Bonds | 0.50% | $17.99M |
| Commonwealth of Puerto Rico | — | Municipal Bonds | 0.48% | $17.52M |
| Commonwealth of Puerto Rico | — | Municipal Bonds | 0.47% | $17.02M |
| California Community Choice Financing Authority | — | Municipal Bonds | 0.46% | $16.70M |
| Maryland Health & Higher Educational Facilities Authority | — | Municipal Bonds | 0.46% | $16.47M |
| City of Baltimore Md | — | Municipal Bonds | 0.46% | $16.47M |
| Tuscaloosa County Industrial Development Authority | — | Municipal Bonds | 0.45% | $16.26M |
| Public Finance Authority | — | Municipal Bonds | 0.43% | $15.66M |
| George L Smith Ii Congress Center Authority | — | Municipal Bonds | 0.43% | $15.63M |
| Commonwealth of Puerto Rico | — | Municipal Bonds | 0.42% | $15.19M |
| Ohio Air Quality Development Authority | — | Municipal Bonds | 0.41% | $14.67M |
| California Community Housing Agency | — | Municipal Bonds | 0.40% | $14.52M |
| Build Nyc Resource Corp. | — | Municipal Bonds | 0.40% | $14.30M |
| Berks County Municipal Authority/the | — | Municipal Bonds | 0.38% | $13.74M |
| Salt Verde Financial Corp. | — | Municipal Bonds | 0.38% | $13.67M |
| Texas Private Activity Bond Surface Transportation Corp. | — | Municipal Bonds | 0.38% | $13.60M |
| District of Columbia Tobacco Settlement Financing Corp. | — | Municipal Bonds | 0.37% | $13.47M |
| Public Finance Authority | — | Municipal Bonds | 0.35% | $12.79M |
| Cleveland-Cuyahoga County Port Authority | — | Municipal Bonds | 0.35% | $12.77M |
| San Francisco City & County Airport Comm-San Francisco International Airport | — | Municipal Bonds | 0.35% | $12.72M |
| California Community Housing Agency | — | Municipal Bonds | 0.35% | $12.62M |
| New York Transportation Development Corp. | — | Municipal Bonds | 0.34% | $12.44M |
| Atlanta Development Authority/the | — | Municipal Bonds | 0.34% | $12.37M |
| Aurora Crossroads Metropolitan District No 2 | — | Municipal Bonds | 0.34% | $12.31M |
| St Louis County Industrial Development Authority | — | Municipal Bonds | 0.34% | $12.28M |
| Colorado Educational & Cultural Facilities Authority | — | Municipal Bonds | 0.32% | $11.76M |
| Calhoun County Hospital Finance Authority | — | Municipal Bonds | 0.32% | $11.73M |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue | — | Municipal Bonds | 0.32% | $11.71M |
| Chicago Board of Education | — | Municipal Bonds | 0.32% | $11.66M |
| Commonwealth of Puerto Rico | — | Municipal Bonds | 0.32% | $11.64M |
| St Louis Land Clearance for Redevelopment Authority | — | Municipal Bonds | 0.32% | $11.62M |
| Pennsylvania Economic Development Financing Authority | — | Municipal Bonds | 0.32% | $11.41M |
| Maryland Economic Development Corp. | — | Municipal Bonds | 0.31% | $11.31M |
| County of Cuyahoga Oh | — | Municipal Bonds | 0.31% | $11.31M |
| California Community Choice Financing Authority | — | Municipal Bonds | 0.31% | $11.19M |
| Black Belt Energy Gas District | — | Municipal Bonds | 0.31% | $11.13M |
| Kentucky Economic Development Finance Authority | — | Municipal Bonds | 0.31% | $11.07M |
| Public Authority for Colorado Energy | — | Municipal Bonds | 0.31% | $11.06M |
| Commonwealth of Puerto Rico | — | Municipal Bonds | 0.30% | $10.99M |
| Indiana Finance Authority | — | Municipal Bonds | 0.30% | $10.96M |
| Virgin Islands Hotel Development Financing Corp. | — | Municipal Bonds | 0.30% | $10.83M |
| New Hampshire Business Finance Authority | — | Municipal Bonds | 0.30% | $10.73M |
| Oklahoma Turnpike Authority | — | Municipal Bonds | 0.29% | $10.65M |
| Oklahoma Development Finance Authority | — | Municipal Bonds | 0.29% | $10.61M |
| Black Belt Energy Gas District | — | Municipal Bonds | 0.29% | $10.54M |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority | — | Municipal Bonds | 0.29% | $10.44M |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | — | Municipal Bonds | 0.29% | $10.41M |
| California Statewide Communities Development Authority | — | Municipal Bonds | 0.28% | $10.29M |
| Texas Department of Housing & Community Affairs | — | Municipal Bonds | 0.28% | $10.19M |
| California Statewide Communities Development Authority | — | Municipal Bonds | 0.28% | $10.09M |
| Inland Empire Tobacco Securitization Corp. | — | Municipal Bonds | 0.28% | $10.05M |
| New York Transportation Development Corp. | — | Municipal Bonds | 0.28% | $10.04M |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority | — | Municipal Bonds | 0.28% | $10.03M |
| Chicago Board of Education | — | Municipal Bonds | 0.28% | $10.01M |
| Greater Asheville Regional Airport Authority | — | Municipal Bonds | 0.28% | $9.98M |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority | — | Municipal Bonds | 0.27% | $9.85M |
| New York Transportation Development Corp. | — | Municipal Bonds | 0.27% | $9.83M |
| Florida Higher Educational Facilities Financing Authority | — | Municipal Bonds | 0.27% | $9.76M |
| California Public Finance Authority | — | Municipal Bonds | 0.27% | $9.70M |
| Black Desert Public Infrastructure District | — | Municipal Bonds | 0.26% | $9.50M |
| New Jersey Economic Development Authority | — | Municipal Bonds | 0.26% | $9.43M |
| Pennsylvania Turnpike Commission | — | Municipal Bonds | 0.26% | $9.33M |
| Virginia Housing Development Authority | — | Municipal Bonds | 0.26% | $9.30M |
| Uipa Crossroads Public Infrastructure District | — | Municipal Bonds | 0.26% | $9.30M |
| North Carolina Medical Care Commission | — | Municipal Bonds | 0.26% | $9.30M |
| Louisiana Public Facilities Authority | — | Municipal Bonds | 0.25% | $9.10M |
| Connector 2000 Association, Inc. | — | Municipal Bonds | 0.25% | $9.09M |
| Public Finance Authority | — | Municipal Bonds | 0.25% | $9.07M |
| District of Columbia | — | Municipal Bonds | 0.25% | $9.00M |
| Commonwealth of Puerto Rico | — | Municipal Bonds | 0.25% | $8.92M |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority | — | Municipal Bonds | 0.24% | $8.87M |
| Washington State Housing Finance Commission | — | Municipal Bonds | 0.24% | $8.86M |
| Indiana Finance Authority | — | Municipal Bonds | 0.24% | $8.82M |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | — | Municipal Bonds | 0.24% | $8.76M |
| Spring Valley Community Infrastructure District No 1 | — | Municipal Bonds | 0.24% | $8.63M |
| Illinois Finance Authority | — | Municipal Bonds | 0.24% | $8.58M |
| Arlington Higher Education Finance Corp. | — | Municipal Bonds | 0.23% | $8.50M |
| Black Belt Energy Gas District | — | Municipal Bonds | 0.23% | $8.37M |
| Public Finance Authority | — | Municipal Bonds | 0.23% | $8.33M |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority | — | Municipal Bonds | 0.23% | $8.32M |
| Port of Beaumont Navigation District | — | Municipal Bonds | 0.23% | $8.32M |
| City of Austin Tx Airport System Revenue | — | Municipal Bonds | 0.23% | $8.31M |
| Huntsville-Redstone Village Special Care Facilities Financing Authority | — | Municipal Bonds | 0.23% | $8.26M |
| City of Jacksonville Fl | — | Municipal Bonds | 0.23% | $8.26M |
| Pennsylvania Economic Development Financing Authority | — | Municipal Bonds | 0.23% | $8.25M |
| City of New York Ny | — | Municipal Bonds | 0.23% | $8.18M |
| California Statewide Communities Development Authority | — | Municipal Bonds | 0.22% | $8.12M |
| Connecticut State Health & Educational Facilities Authority | — | Municipal Bonds | 0.22% | $8.12M |
| Dallas Fort Worth International Airport | — | Municipal Bonds | 0.22% | $8.08M |
| Arizona Industrial Development Authority | — | Municipal Bonds | 0.22% | $8.03M |
| Black Belt Energy Gas District | — | Municipal Bonds | 0.22% | $7.91M |
| City of Osceola Ar | — | Municipal Bonds | 0.22% | $7.88M |
PRFHX Sector Allocation
T. Rowe Price Tax-Free High Yield Fund holdings grouped by sector, by share of the portfolio's market value.
| Sector | Weight | Holdings |
|---|---|---|
| Municipal Bonds | 99.6% | 1061 |
| Materials | 0.0% | 1 |
| Industrials | 0.0% | 1 |
| Unknown | 0.4% | 6 |
PRFHX Country Allocation
Where T. Rowe Price Tax-Free High Yield Fund's holdings are domiciled, by percentage of net assets (largest 3).
| Country | % of net assets |
|---|---|
| United States | 89.3% |
| Puerto Rico | 9.6% |
| U.S. Virgin Islands | 0.3% |
PRFHX Portfolio Allocation
Asset-class allocation of T. Rowe Price Tax-Free High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 99.0% |
| Securitized | 0.1% |
PRFHX Debt Constituents
Largest debt holdings of T. Rowe Price Tax-Free High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Pr Sales Tax Fing Sales Tax Rev Ser A1 | 1.67% |
| Buckeye Oh Tob Stlmt Sr B-2 Cl 2 | 1.58% |
| Pr Sales Tax Fing Sales Tax Rev Ser A1 | 1.08% |
| Met Pier Expo Mccormick A | 0.98% |
| Golden St Tobacco Sec Tobacco Sub Sr B-2 | 0.74% |
| Tob Settle Fing Corp. Nj Ser B | 0.59% |
| Pr Comwlth Subser Prifa Rum Txbl | 0.56% |
| Ca Cmnty Hsg Stoneridge Apts Ser A 144a | 0.50% |
| Pub Fin Auth-Amt Amt | 0.50% |
| Pr Comwlth Cvi-Subser Cw Hta 98 Txbl | 0.48% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.