| Description | Shares | Value | |||
| Long-Term Investments 98.7% | |||||
| Affiliated Exchange-Traded Funds 20.5% | |||||
| PGIM Active Aggregate Bond ETF | 522,500 | $22,161,681 | |||
| PGIM Active High Yield Bond ETF | 756,600 | 26,491,441 | |||
| Total Affiliated Exchange-Traded Funds (cost $54,781,139)(wa) | 48,653,122 | ||||
| Affiliated Mutual Funds — 57.6% | |||||
| Domestic Equity — 26.4% | |||||
| PGIM Jennison MLP Fund (Class R6) | 3,604,056 | 30,201,991 | |||
| PGIM Real Estate Income Fund (Class R6) | 4,403,748 | 32,411,583 | |||
| 62,613,574 | |||||
| Fixed Income — 21.5% | |||||
| PGIM Core Conservative Bond Fund (Class R6) | 1,721,691 | 14,909,842 | |||
| PGIM Emerging Markets Debt Hard Currency Fund (Class R6) | 5,141,519 | 36,093,463 | |||
| 51,003,305 | |||||
| International Equity — 9.7% | |||||
| PGIM Quant Solutions Emerging Markets Equity Fund (Class R6) | 37,922 | 461,130 | |||
| PGIM Quant Solutions International Equity Fund (Class R6) | 2,831,379 | 22,509,463 | |||
| 22,970,593 | |||||
| Total Affiliated Mutual Funds (cost $119,446,923)(wa) | 136,587,472 | ||||
| Common Stocks 15.0% | |||||
| Aerospace & Defense 0.7% | |||||
| RTX Corp. | 4,292 | 504,267 | |||
| Safran SA (France) | 5,242 | 1,151,629 | |||
| 1,655,896 | |||||
| Automobile Components 0.1% | |||||
| Aptiv PLC* | 2,243 | 155,642 | |||
| Banks 1.1% | |||||
| Citigroup, Inc. | 12,831 | 832,475 | |||
| JPMorgan Chase & Co. | 3,677 | 782,466 | |||
| Truist Financial Corp. | 24,132 | 1,078,459 | |||
| 2,693,400 | |||||
| Beverages 0.2% | |||||
| Coca-Cola Co. (The) | 5,569 | 371,675 | |||
| Description | Shares | Value | |||
| Common Stocks (Continued) | |||||
| Biotechnology 1.2% | |||||
| AbbVie, Inc. | 8,537 | $1,582,077 | |||
| Amgen, Inc. | 4,059 | 1,349,495 | |||
| 2,931,572 | |||||
| Chemicals 0.2% | |||||
| PPG Industries, Inc. | 4,397 | 558,331 | |||
| Commercial Services & Supplies 0.3% | |||||
| Waste Management, Inc. | 2,974 | 602,711 | |||
| Communications Equipment 0.2% | |||||
| Cisco Systems, Inc. | 7,980 | 386,631 | |||
| Consumer Finance 0.2% | |||||
| American Express Co. | 1,994 | 504,562 | |||
| Consumer Staples Distribution & Retail 0.5% | |||||
| Walmart, Inc. | 15,620 | 1,072,157 | |||
| Diversified Telecommunication Services 0.5% | |||||
| AT&T, Inc. | 40,186 | 773,581 | |||
| BCE, Inc. (Canada) | 14,729 | 496,809 | |||
| 1,270,390 | |||||
| Electric Utilities 0.1% | |||||
| FirstEnergy Corp. | 3,788 | 158,755 | |||
| Xcel Energy, Inc. | 1,738 | 101,291 | |||
| 260,046 | |||||
| Entertainment 0.4% | |||||
| Electronic Arts, Inc. | 5,749 | 867,754 | |||
| Financial Services 0.3% | |||||
| Visa, Inc. (Class A Stock) | 2,762 | 733,780 | |||
| Food Products 0.2% | |||||
| Kraft Heinz Co. (The) | 12,245 | 431,146 | |||
| Description | Shares | Value | |||
| Common Stocks (Continued) | |||||
| Ground Transportation 0.3% | |||||
| Canadian National Railway Co. (Canada) | 2,918 | $337,758 | |||
| Union Pacific Corp. | 1,490 | 367,628 | |||
| 705,386 | |||||
| Health Care Equipment & Supplies 0.5% | |||||
| Boston Scientific Corp.* | 15,920 | 1,176,170 | |||
| Hotels, Restaurants & Leisure 0.2% | |||||
| McDonald’s Corp. | 1,823 | 483,824 | |||
| Household Products 0.2% | |||||
| Procter & Gamble Co. (The) | 2,816 | 452,700 | |||
| Independent Power & Renewable Electricity Producers 0.8% | |||||
| RWE AG (Germany) | 8,875 | 331,223 | |||
| Vistra Corp. | 19,547 | 1,548,513 | |||
| 1,879,736 | |||||
| Industrial REITs 0.4% | |||||
| Prologis, Inc. | 7,301 | 920,291 | |||
| Insurance 0.4% | |||||
| MetLife, Inc. | 13,532 | 1,039,934 | |||
| IT Services 0.4% | |||||
| International Business Machines Corp. | 4,863 | 934,377 | |||
| Life Sciences Tools & Services 0.2% | |||||
| Danaher Corp. | 1,317 | 364,914 | |||
| Machinery 0.5% | |||||
| Caterpillar, Inc. | 1,180 | 408,516 | |||
| Parker-Hannifin Corp. | 1,452 | 814,804 | |||
| 1,223,320 | |||||
| Metals & Mining 0.1% | |||||
| Arch Resources, Inc. | 1,516 | 222,170 | |||
| Mortgage Real Estate Investment Trusts (REITs) 0.1% | |||||
| Starwood Property Trust, Inc. | 14,525 | 289,774 | |||
| Description | Shares | Value | |||
| Common Stocks (Continued) | |||||
| Oil, Gas & Consumable Fuels 0.8% | |||||
| Phillips 66 | 7,561 | $1,099,974 | |||
| Shell PLC, ADR | 8,205 | 600,770 | |||
| Williams Cos., Inc. (The) | 4,359 | 187,176 | |||
| 1,887,920 | |||||
| Pharmaceuticals 0.9% | |||||
| AstraZeneca PLC (United Kingdom), ADR | 14,133 | 1,118,627 | |||
| Eli Lilly & Co. | 1,350 | 1,085,764 | |||
| 2,204,391 | |||||
| Semiconductors & Semiconductor Equipment 1.7% | |||||
| Applied Materials, Inc. | 5,334 | 1,131,875 | |||
| Broadcom, Inc. | 9,642 | 1,549,277 | |||
| Intel Corp. | 11,589 | 356,246 | |||
| Lam Research Corp. | 1,139 | 1,049,292 | |||
| 4,086,690 | |||||
| Software 0.2% | |||||
| Microsoft Corp. | 1,406 | 588,200 | |||
| Specialized REITs 0.2% | |||||
| Digital Realty Trust, Inc. | 3,620 | 541,154 | |||
| Specialty Retail 0.4% | |||||
| O’Reilly Automotive, Inc.* | 817 | 920,220 | |||
| Technology Hardware, Storage & Peripherals 0.5% | |||||
| Apple, Inc. | 5,309 | 1,179,023 | |||
| Total Common Stocks (cost $23,923,408) | 35,595,887 | ||||
| Preferred Stock 0.3% | |||||
| Electric Utilities | |||||
| NextEra Energy, Inc., CVT, 6.926%, Maturing 09/01/25 (cost $775,661) | 15,911 | 702,630 | |||
| Unaffiliated Exchange-Traded Funds 5.3% | |||||
| Invesco Preferred ETF(a) | 199,588 | 2,315,221 | |||
| iShares 0-5 Year High Yield Corporate Bond ETF | 54,500 | 2,328,785 | |||
| iShares iBoxx High Yield Corporate Bond ETF | 8,000 | 628,320 | |||
| Description | Shares | Value | |||
| Unaffiliated Exchange-Traded Funds (Continued) | |||||
| SPDR Bloomberg Convertible Securities ETF | 97,250 | $7,152,737 | |||
| Total Unaffiliated Exchange-Traded Funds (cost $12,076,093) | 12,425,063 | ||||
| Total Long-Term Investments (cost $211,003,224) | 233,964,174 | ||||
| Short-Term Investments 1.9% | |||||
| Affiliated Mutual Funds | |||||
| PGIM Core Ultra Short Bond Fund | 2,091,227 | 2,091,227 | |||
| PGIM Institutional Money Market Fund (7-day effective yield 5.606%) (cost $2,291,951; includes $2,282,015 of cash collateral for securities on loan)(b) | 2,293,328 | 2,291,952 | |||
| Total Short-Term Investments (cost $4,383,178)(wa) | 4,383,179 | ||||
| TOTAL INVESTMENTS 100.6% (cost $215,386,402) | 238,347,353 | ||||
| Liabilities in excess of other assets (0.6)% | (1,350,937) | ||||
| Net Assets 100.0% | $236,996,416 | ||||
| Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
| ADR—American Depositary Receipt | |
| CVT—Convertible Security | |
| ETF—Exchange-Traded Fund | |
| iBoxx—Bond Market Indices | |
| MLP—Master Limited Partnership | |
| REITs—Real Estate Investment Trust | |
| SPDR—Standard & Poor’s Depositary Receipts |
| * | 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 $2,224,880; cash collateral of $2,282,015 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Fund may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day. |
| (b) | Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
| (wa) | Represents investments in Funds affiliated with the Manager. |
