PGIM QMA Mid-Cap Value Fund
Schedule of Investments as of January 31, 2020 (unaudited)
Description | Shares | Value | |||
Long-Term Investments 99.8% | |||||
Common Stocks | |||||
Airlines 2.5% | |||||
Alaska Air Group, Inc. | 30,300 | $1,957,077 | |||
JetBlue Airways Corp.* | 189,745 | 3,762,643 | |||
United Airlines Holdings, Inc.* | 54,900 | 4,106,520 | |||
9,826,240 | |||||
Auto Components 2.1% | |||||
BorgWarner, Inc. | 64,100 | 2,197,989 | |||
Goodyear Tire & Rubber Co. (The) | 257,400 | 3,379,662 | |||
Lear Corp. | 20,100 | 2,475,918 | |||
8,053,569 | |||||
Banks 10.6% | |||||
Associated Banc-Corp. | 26,500 | 528,145 | |||
Bank OZK | 10,600 | 288,108 | |||
BankUnited, Inc. | 12,300 | 405,900 | |||
BOK Financial Corp. | 5,500 | 433,950 | |||
CIT Group, Inc. | 10,200 | 466,242 | |||
Citizens Financial Group, Inc. | 125,300 | 4,671,184 | |||
Comerica, Inc. | 36,500 | 2,232,340 | |||
Fifth Third Bancorp | 177,833 | 5,059,349 | |||
First Horizon National Corp. | 55,900 | 894,400 | |||
FNB Corp. | 24,400 | 284,748 | |||
Huntington Bancshares, Inc. | 235,200 | 3,191,664 | |||
KeyCorp | 262,800 | 4,916,988 | |||
M&T Bank Corp. | 20,600 | 3,471,512 | |||
PacWest Bancorp | 9,500 | 332,975 | |||
People’s United Financial, Inc. | 147,600 | 2,275,992 | |||
Pinnacle Financial Partners, Inc. | 8,300 | 490,198 | |||
Popular, Inc. (Puerto Rico) | 28,100 | 1,572,476 | |||
Regions Financial Corp. | 296,000 | 4,608,720 | |||
Sterling Bancorp | 18,100 | 362,000 | |||
Synovus Financial Corp. | 2,600 | 91,052 | |||
Umpqua Holdings Corp. | 31,400 | 530,660 | |||
Wintrust Financial Corp. | 4,900 | 310,072 | |||
Zions Bancorp NA | 79,800 | 3,630,102 | |||
41,048,777 | |||||
Beverages 1.1% | |||||
Molson Coors Beverage Co. (Class B Stock)(a) | 73,700 | 4,096,246 |
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PGIM QMA Mid-Cap Value Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks(Continued) | |||||
Building Products 0.6% | |||||
Owens Corning | 36,800 | $2,226,032 | |||
Capital Markets 2.7% | |||||
Invesco Ltd. | 226,900 | 3,925,370 | |||
Janus Henderson Group PLC (United Kingdom) | 30,800 | 778,316 | |||
Legg Mason, Inc. | 5,500 | 215,325 | |||
State Street Corp. | 74,100 | 5,604,183 | |||
10,523,194 | |||||
Chemicals 3.5% | |||||
Eastman Chemical Co. | 56,000 | 3,991,120 | |||
Mosaic Co. (The) | 195,700 | 3,882,688 | |||
Olin Corp. | 216,300 | 3,216,381 | |||
Westlake Chemical Corp. | 42,500 | 2,601,000 | |||
13,691,189 | |||||
Commercial Services & Supplies 0.6% | |||||
ADT, Inc.(a) | 375,877 | 2,330,437 | |||
Consumer Finance 3.7% | |||||
Ally Financial, Inc. | 138,159 | 4,425,233 | |||
Discover Financial Services | 16,600 | 1,247,158 | |||
Navient Corp. | 124,900 | 1,796,062 | |||
Santander Consumer USA Holdings, Inc. | 133,881 | 3,563,912 | |||
Synchrony Financial | 104,200 | 3,377,122 | |||
14,409,487 | |||||
Containers & Packaging 2.1% | |||||
International Paper Co. | 90,400 | 3,681,088 | |||
Packaging Corp. of America | 6,200 | 593,650 | |||
Westrock Co. | 104,500 | 4,075,500 | |||
8,350,238 | |||||
Distributors 0.1% | |||||
LKQ Corp.* | 9,200 | 300,702 | |||
Diversified Financial Services 2.3% | |||||
Equitable Holdings, Inc. | 169,300 | 4,066,586 |
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PGIM QMA Mid-Cap Value Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks(Continued) | |||||
Diversified Financial Services (cont’d.) | |||||
Jefferies Financial Group, Inc. | 34,000 | $735,760 | |||
Voya Financial, Inc. | 67,102 | 4,008,003 | |||
8,810,349 | |||||
Diversified Telecommunication Services 1.1% | |||||
CenturyLink, Inc. | 322,300 | 4,402,618 | |||
Electric Utilities 1.7% | |||||
Avangrid, Inc. | 17,600 | 937,376 | |||
Edison International | 17,600 | 1,347,280 | |||
PPL Corp. | 121,700 | 4,404,323 | |||
6,688,979 | |||||
Electronic Equipment, Instruments & Components 1.3% | |||||
Arrow Electronics, Inc.* | 22,700 | 1,723,838 | |||
Avnet, Inc. | 91,500 | 3,338,835 | |||
5,062,673 | |||||
Energy Equipment & Services 0.2% | |||||
Baker Hughes Co. | 30,000 | 649,800 | |||
Equity Real Estate Investment Trusts (REITs) 9.0% | |||||
Apple Hospitality REIT, Inc. | 241,300 | 3,624,326 | |||
Colony Capital, Inc. | 760,900 | 3,553,403 | |||
Columbia Property Trust, Inc. | 5,500 | 116,050 | |||
Digital Realty Trust, Inc.(a) | 8,200 | 1,008,518 | |||
Host Hotels & Resorts, Inc. | 218,500 | 3,570,290 | |||
Kimco Realty Corp. | 7,861 | 149,752 | |||
Macerich Co. (The)(a) | 136,800 | 3,052,008 | |||
Medical Properties Trust, Inc. | 48,369 | 1,071,374 | |||
Paramount Group, Inc. | 23,200 | 326,192 | |||
Park Hotels & Resorts, Inc. | 164,400 | 3,606,936 | |||
Service Properties Trust | 147,600 | 3,185,208 | |||
SL Green Realty Corp. | 15,000 | 1,380,600 | |||
Ventas, Inc. | 10,100 | 584,386 | |||
VEREIT, Inc. | 400,607 | 3,909,924 | |||
VICI Properties, Inc. | 110,600 | 2,964,080 | |||
Welltower, Inc. | 31,200 | 2,649,192 | |||
34,752,239 |
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PGIM QMA Mid-Cap Value Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks(Continued) | |||||
Food & Staples Retailing 1.3% | |||||
Kroger Co. (The) | 190,700 | $5,122,202 | |||
Food Products 1.2% | |||||
J.M. Smucker Co. (The) | 41,600 | 4,310,176 | |||
Tyson Foods, Inc. (Class A Stock) | 2,600 | 214,838 | |||
4,525,014 | |||||
Health Care Providers & Services 2.3% | |||||
Acadia Healthcare Co., Inc.* | 44,500 | 1,429,785 | |||
Covetrus, Inc.* | 132,400 | 1,628,520 | |||
DaVita, Inc.* | 5,200 | 415,324 | |||
McKesson Corp. | 28,200 | 4,021,602 | |||
MEDNAX, Inc.* | 54,600 | 1,259,622 | |||
8,754,853 | |||||
Hotels, Restaurants & Leisure 2.1% | |||||
Norwegian Cruise Line Holdings Ltd.* | 61,500 | 3,311,775 | |||
Royal Caribbean Cruises Ltd. | 41,100 | 4,811,988 | |||
8,123,763 | |||||
Household Durables 5.2% | |||||
Lennar Corp. (Class A Stock) | 63,963 | 4,244,585 | |||
Mohawk Industries, Inc.* | 28,839 | 3,797,519 | |||
Newell Brands, Inc. | 195,051 | 3,809,346 | |||
PulteGroup, Inc.(a) | 54,647 | 2,439,989 | |||
Toll Brothers, Inc. | 86,033 | 3,816,424 | |||
Whirlpool Corp. | 14,600 | 2,134,082 | |||
20,241,945 | |||||
Insurance 4.8% | |||||
American Financial Group, Inc. | 7,900 | 859,441 | |||
Athene Holding Ltd. (Class A Stock)* | 48,900 | 2,130,084 | |||
Hartford Financial Services Group, Inc. (The) | 78,000 | 4,623,840 | |||
Old Republic International Corp. | 4,700 | 105,985 | |||
Principal Financial Group, Inc. | 86,400 | 4,574,880 | |||
Reinsurance Group of America, Inc. | 27,600 | 3,975,780 | |||
Unum Group | 87,400 | 2,332,706 | |||
18,602,716 |
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PGIM QMA Mid-Cap Value Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks(Continued) | |||||
Internet & Direct Marketing Retail 0.9% | |||||
Qurate Retail, Inc. Series A* | 421,100 | $3,591,983 | |||
IT Services 1.0% | |||||
DXC Technology Co. | 120,200 | 3,831,976 | |||
Machinery 3.0% | |||||
Cummins, Inc. | 30,300 | 4,847,091 | |||
Gates Industrial Corp. PLC* | 90,403 | 1,127,325 | |||
PACCAR, Inc. | 74,000 | 5,491,540 | |||
11,465,956 | |||||
Media 3.8% | |||||
Discovery, Inc. (Class A Stock)*(a) | 66,500 | 1,945,790 | |||
Discovery, Inc. (Class C Stock)* | 87,300 | 2,424,321 | |||
DISH Network Corp. (Class A Stock)* | 103,300 | 3,797,308 | |||
Fox Corp. (Class A Stock) | 48,600 | 1,802,088 | |||
Fox Corp. (Class B Stock) | 41,200 | 1,496,796 | |||
Interpublic Group of Cos., Inc. (The) | 3,200 | 72,640 | |||
Liberty Media Corp.-Liberty SiriusXM (Class A Stock)* | 17,600 | 854,832 | |||
Liberty Media Corp.-Liberty SiriusXM (Class C Stock)* | 23,100 | 1,132,362 | |||
News Corp. (Class A Stock) | 89,600 | 1,220,352 | |||
14,746,489 | |||||
Metals & Mining 3.9% | |||||
Newmont Corp. | 36,300 | 1,635,678 | |||
Nucor Corp. | 91,700 | 4,354,833 | |||
Reliance Steel & Aluminum Co. | 34,890 | 4,005,372 | |||
Steel Dynamics, Inc. | 74,800 | 2,235,024 | |||
United States Steel Corp.(a) | 312,200 | 2,831,654 | |||
15,062,561 | |||||
Mortgage Real Estate Investment Trusts (REITs) 4.5% | |||||
AGNC Investment Corp. | 223,300 | 4,151,147 | |||
Annaly Capital Management, Inc. | 489,724 | 4,779,706 | |||
Chimera Investment Corp. | 62,000 | 1,314,400 | |||
MFA Financial, Inc. | 290,200 | 2,263,560 | |||
New Residential Investment Corp. | 206,500 | 3,456,810 | |||
Two Harbors Investment Corp. | 109,700 | 1,674,022 | |||
17,639,645 |
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PGIM QMA Mid-Cap Value Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks(Continued) | |||||
Multiline Retail 1.7% | |||||
Kohl’s Corp. | 83,800 | $3,582,450 | |||
Macy’s, Inc.(a) | 181,400 | 2,893,330 | |||
6,475,780 | |||||
Multi-Utilities 0.6% | |||||
Consolidated Edison, Inc. | 10,033 | 943,102 | |||
Sempra Energy | 9,100 | 1,461,824 | |||
2,404,926 | |||||
Oil, Gas & Consumable Fuels 7.2% | |||||
Antero Resources Corp.*(a) | 411,594 | 761,449 | |||
Centennial Resource Development, Inc. (Class A Stock)* | 312,000 | 1,017,120 | |||
Cimarex Energy Co. | 38,600 | 1,694,154 | |||
Concho Resources, Inc. | 34,400 | 2,606,832 | |||
Continental Resources, Inc. | 23,700 | 645,114 | |||
Devon Energy Corp. | 127,000 | 2,758,440 | |||
Diamondback Energy, Inc. | 48,700 | 3,623,280 | |||
EQT Corp. | 239,600 | 1,449,580 | |||
HollyFrontier Corp. | 77,600 | 3,485,792 | |||
Marathon Oil Corp. | 327,600 | 3,724,812 | |||
Murphy Oil Corp.(a) | 46,500 | 974,640 | |||
Noble Energy, Inc. | 26,200 | 517,974 | |||
Parsley Energy, Inc. (Class A Stock) | 190,300 | 3,166,592 | |||
Range Resources Corp.(a) | 439,400 | 1,318,200 | |||
27,743,979 | |||||
Paper & Forest Products 0.9% | |||||
Domtar Corp. | 96,600 | 3,363,612 | |||
Pharmaceuticals 1.1% | |||||
Mylan NV* | 200,789 | 4,300,900 | |||
Real Estate Management & Development 0.6% | |||||
Jones Lang LaSalle, Inc. | 13,200 | 2,241,624 | |||
Road & Rail 1.8% | |||||
Knight-Swift Transportation Holdings, Inc. | 103,700 | 3,845,196 | |||
Ryder System, Inc. | 69,141 | 3,299,409 | |||
7,144,605 |
6
PGIM QMA Mid-Cap Value Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks(Continued) | |||||
Software 0.1% | |||||
Cerence, Inc.* | 14,900 | $318,115 | |||
Specialty Retail 0.5% | |||||
AutoNation, Inc.* | 17,400 | 738,456 | |||
Penske Automotive Group, Inc. | 24,500 | 1,150,765 | |||
1,889,221 | |||||
Technology Hardware, Storage & Peripherals 2.2% | |||||
Hewlett Packard Enterprise Co. | 337,200 | 4,697,196 | |||
Xerox Holdings Corp. | 110,600 | 3,934,042 | |||
8,631,238 | |||||
Textiles, Apparel & Luxury Goods 1.2% | |||||
PVH Corp. | 40,100 | 3,495,517 | |||
Tapestry, Inc. | 45,800 | 1,180,266 | |||
4,675,783 | |||||
Thrifts & Mortgage Finance 0.0% | |||||
MGIC Investment Corp. | 6,900 | 95,151 | |||
Trading Companies & Distributors 1.9% | |||||
Air Lease Corp. | 80,700 | 3,465,258 | |||
United Rentals, Inc.* | 7,700 | 1,044,813 | |||
WESCO International, Inc.* | 63,500 | 3,074,035 | |||
7,584,106 | |||||
Wireless Telecommunication Services 0.8% | |||||
Telephone & Data Systems, Inc. | 107,400 | 2,435,832 | |||
United States Cellular Corp.* | 16,500 | 528,330 | |||
2,964,162 | |||||
Total Long-Term Investments (cost $403,751,712) | 386,765,074 | ||||
Short-Term Investments 4.8% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Ultra Short Bond Fund(w) | 157,419 | 157,419 |
7
PGIM QMA Mid-Cap Value Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Shares | Value | |||
Affiliated Mutual Funds(Continued) | |||||
PGIM Institutional Money Market Fund (cost $18,395,481; includes $18,362,872 of cash collateral for securities on loan)(b)(w) | 18,396,558 | $18,400,237 | |||
Total Short-Term Investments (cost $18,552,900) | 18,557,656 | ||||
TOTAL INVESTMENTS 104.6% (cost $422,304,612) | 405,322,730 | ||||
Liabilities in excess of other assets (4.6)% | (17,738,395) | ||||
Net Assets 100.0% | $387,584,335 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
REITs—Real Estate Investment Trust |
* | Non-income producing security. |
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $17,509,468; cash collateral of $18,362,872 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. |
(b) | Represents security purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
(w) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund. |
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).
8