PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 98.8% | |||||
Asset-Backed Security 0.2% | |||||
Credit Cards  | |||||
Citibank Credit Card Issuance Trust, Series 2018-A07, Class A7 (cost $118,703) | 3.960 % | 10/13/30 |  | 100 |  $116,324 |
Commercial Mortgage-Backed Securities 5.7% | |||||
BANK, Series 2020-BN29, Class A3 | 1.742 | 11/15/53 | Â | 100 | 96,222 |
Barclays Commercial Mortgage Trust, Series 2019-C04, Class A4 | 2.661 | 08/15/52 | Â | 100 | 104,180 |
Benchmark Mortgage Trust, | Â | Â | Â | Â | Â |
Series 2018-B03, Class A3 | 3.746 | 04/10/51 | Â | 30 | 32,326 |
Series 2020-B19, Class A3 | 1.787 | 09/15/53 | Â | 175 | 175,614 |
Series 2020-B21, Class A4 | 1.704 | 12/17/53 | Â | 100 | 96,499 |
Series 2021-B23, Class A4A1 | 1.823 | 02/15/54 | Â | 200 | 193,685 |
Series 2021-B24, Class A4 | 2.264 | 03/15/54 | Â | 200 | 201,867 |
 |  |  | |||
 | |||||
CCUBS Commercial Mortgage Trust, Series 2017-C01, Class A3 | 3.283(cc) | 11/15/50 | Â | 90 | 96,920 |
CD Mortgage Trust, Series 2017-CD06, Class A3 | 3.104 | 11/13/50 | Â | 40 | 41,640 |
Citigroup Commercial Mortgage Trust, | Â | Â | Â | Â | Â |
Series 2016-P06, Class A4 | 3.458 | 12/10/49 | Â | 125 | 136,581 |
Series 2017-P08, Class A3 | 3.203 | 09/15/50 | Â | 75 | 80,175 |
Commercial Mortgage Trust, | Â | Â | Â | Â | Â |
Series 2015-PC01, Class A4 | 3.620 | 07/10/50 | Â | 154 | 158,381 |
Series 2016-DC02, Class A5 | 3.765 | 02/10/49 | Â | 25 | 27,562 |
 |  |  | |||
 | |||||
CSAIL Commercial Mortgage Trust, Series 2016-C07, Class A4 | 3.210 | 11/15/49 | Â | 43 | 46,418 |
FHLMC Multifamily Structured Pass-Through Certificates, | Â | Â | Â | Â | Â |
Series K066, Class AM | 3.200 | 06/25/27 | Â | 307 | 339,595 |
Series K069, Class AM | 3.248(cc) | 09/25/27 | Â | 50 | 55,407 |
Series K070, Class AM | 3.364 | 12/25/27 | Â | 25 | 27,913 |
Series K076, Class AM | 3.900 | 04/25/28 | Â | 50 | 57,482 |
Series K077, Class AM | 3.850(cc) | 05/25/28 | Â | 10 | 11,557 |
Series K083, Class AM | 4.030(cc) | 10/25/28 | Â | 25 | 29,172 |
 |  |  | |||
 | |||||
GS Mortgage Securities Trust, Series 2020-GC47, Class A4 | 2.125 | 05/12/53 | Â | 100 | 99,955 |
JPMCC Commercial Mortgage Securities Trust, Series 2019-COR04, Class A3 | 3.763 | 03/10/52 | Â | 125 | 138,589 |
1
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Commercial Mortgage-Backed Securities (Continued) | |||||
JPMorgan Chase Commercial Mortgage Securities Trust, | Â | Â | Â | Â | Â |
Series 2016-JP02, Class A3 | 2.559 % | 08/15/49 |  | 19 |  $20,286 |
Series 2016-JP04, Class A3 | 3.393 | 12/15/49 | Â | 125 | 136,693 |
Morgan Stanley Bank of America Merrill Lynch Trust, | Â | Â | Â | Â | Â |
Series 2015-C21, Class A3 | 3.077 | 03/15/48 | Â | 67 | 70,182 |
Series 2016-C32, Class A3 | 3.459 | 12/15/49 | Â | 125 | 137,358 |
 |  |  | |||
 | |||||
Morgan Stanley Capital I Trust, Series 2016-UB12, Class A3 | 3.337 | 12/15/49 | Â | 125 | 131,207 |
UBS Commercial Mortgage Trust, | Â | Â | Â | Â | Â |
Series 2018-C08, Class A3 | 3.720 | 02/15/51 | Â | 200 | 221,699 |
Series 2018-C09, Class ASB | 4.090 | 03/15/51 | Â | 60 | 66,904 |
Series 2018-C11, Class A3 | 4.312 | 06/15/51 | Â | 75 | 82,786 |
Series 2018-C13, Class A3 | 4.069 | 10/15/51 | Â | 200 | 222,830 |
Wells Fargo Commercial Mortgage Trust, | Â | Â | Â | Â | Â |
Series 2016-LC25, Class A3 | 3.374 | 12/15/59 | Â | 125 | 135,459 |
Series 2017-C39, Class A3 | 2.878 | 09/15/50 | Â | 100 | 103,833 |
Series 2020-C55, Class A4 | 2.474 | 02/15/53 | Â | 125 | 127,667 |
 |  |  | |||
 | |||||
Total Commercial Mortgage-Backed Securities (cost $3,583,663) | 3,704,644 | ||||
Corporate Bonds 25.9% | |||||
Aerospace & Defense 0.9% | |||||
Boeing Co. (The), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.196 | 02/04/26 |  | 30 | 30,036 |
Sr. Unsec’d. Notes | 2.250 | 06/15/26 |  | 35 | 35,422 |
Sr. Unsec’d. Notes | 2.700 | 02/01/27 |  | 20 | 20,570 |
Sr. Unsec’d. Notes | 3.100 | 05/01/26 |  | 10 | 10,530 |
Sr. Unsec’d. Notes | 3.600 | 05/01/34 |  | 30 | 30,472 |
Sr. Unsec’d. Notes | 3.900 | 05/01/49 |  | 10 | 10,001 |
Sr. Unsec’d. Notes | 4.508 | 05/01/23 |  | 45 | 48,058 |
Sr. Unsec’d. Notes | 5.805 | 05/01/50 |  | 75 | 96,242 |
 |  |  | |||
 | |||||
General Dynamics Corp., Gtd. Notes | 3.500 | 05/15/25 | Â | 105 | 115,598 |
Lockheed Martin Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.900 | 03/01/25 |  | 25 | 26,841 |
Sr. Unsec’d. Notes | 3.800 | 03/01/45 |  | 15 | 16,747 |
 |  |  | |||
 | |||||
Northrop Grumman Corp., Sr. Unsec’d. Notes | 4.750 | 06/01/43 |  | 25 | 30,898 |
2
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Aerospace & Defense (cont’d.) | |||||
 |  |  | |||
Raytheon Technologies Corp., Sr. Unsec’d. Notes | 4.125 % | 11/16/28 |  | 30 |  $34,043 |
Teledyne Technologies, Inc., Sr. Unsec’d. Notes | 2.250 | 04/01/28 |  | 65 | 65,337 |
 |  |  |  |  | 570,795 |
Agriculture 0.3% | |||||
Altria Group, Inc., | Â | Â | Â | Â | Â |
Gtd. Notes | 3.400 | 02/04/41 | Â | 75 | 68,997 |
Gtd. Notes | 4.800 | 02/14/29 | Â | 5 | 5,690 |
BAT Capital Corp. (United Kingdom), | Â | Â | Â | Â | Â |
Gtd. Notes | 3.215 | 09/06/26 | Â | 15 | 15,880 |
Gtd. Notes | 3.557 | 08/15/27 | Â | 30 | 31,955 |
Gtd. Notes | 4.700 | 04/02/27 | Â | 10 | 11,277 |
Philip Morris International, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 1.125 | 05/01/23 |  | 10 | 10,153 |
Sr. Unsec’d. Notes | 2.625 | 03/06/23 |  | 50 | 52,091 |
 |  |  |  |  | 196,043 |
Airlines 0.2% | |||||
Continental Airlines 2012-1 Class A Pass-Through Trust, Pass-Through Certificates | 4.150 | 10/11/25 | Â | 21 | 22,495 |
Southwest Airlines Co., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.625 | 02/10/30 |  | 20 | 20,156 |
Sr. Unsec’d. Notes | 4.750 | 05/04/23 |  | 40 | 43,211 |
Sr. Unsec’d. Notes | 5.125 | 06/15/27 |  | 30 | 35,078 |
 |  |  |  |  | 120,940 |
Auto Manufacturers 0.3% | |||||
General Motors Co., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 6.250 | 10/02/43 |  | 5 | 6,581 |
Sr. Unsec’d. Notes | 6.600 | 04/01/36 |  | 10 | 13,311 |
Sr. Unsec’d. Notes | 6.750 | 04/01/46 |  | 70 | 96,277 |
 |  |  | |||
 | |||||
General Motors Financial Co., Inc., Gtd. Notes | 4.000 | 01/15/25 | Â | 70 | 76,261 |
 |  |  |  |  | 192,430 |
3
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Banks 5.4% | |||||
Bank of America Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.687 %(ff) | 04/22/32 |  | 145 |  $146,593 |
Sr. Unsec’d. Notes, MTN | 3.970(ff) | 03/05/29 |  | 345 | 384,862 |
Sr. Unsec’d. Notes, MTN | 4.083(ff) | 03/20/51 |  | 75 | 84,073 |
 |  |  | |||
 | |||||
Barclays PLC (United Kingdom), Sr. Unsec’d. Notes | 2.645(ff) | 06/24/31 |  | 150 | 148,971 |
Citigroup, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.561(ff) | 05/01/32 |  | 25 | 24,978 |
Sr. Unsec’d. Notes | 2.572(ff) | 06/03/31 |  | 70 | 70,324 |
Sr. Unsec’d. Notes | 2.666(ff) | 01/29/31 |  | 35 | 35,493 |
Sr. Unsec’d. Notes | 2.976(ff) | 11/05/30 |  | 115 | 119,895 |
Sr. Unsec’d. Notes | 3.400 | 05/01/26 |  | 45 | 49,279 |
Sr. Unsec’d. Notes | 3.668(ff) | 07/24/28 |  | 60 | 66,108 |
Sr. Unsec’d. Notes | 3.980(ff) | 03/20/30 |  | 20 | 22,325 |
Sr. Unsec’d. Notes | 4.075(ff) | 04/23/29 |  | 50 | 56,144 |
Sr. Unsec’d. Notes | 4.650 | 07/30/45 |  | 50 | 61,463 |
 |  |  | |||
 | |||||
Credit Suisse Group AG (Switzerland), Sr. Unsec’d. Notes | 4.550 | 04/17/26 |  | 100 | 112,635 |
Deutsche Bank AG (Germany), Sr. Unsec’d. Notes, Series D | 5.000 | 02/14/22 |  | 50 | 51,646 |
Goldman Sachs Group, Inc. (The), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 1.992(ff) | 01/27/32 |  | 40 | 38,019 |
Sr. Unsec’d. Notes | 2.615(ff) | 04/22/32 |  | 10 | 10,045 |
Sr. Unsec’d. Notes | 3.814(ff) | 04/23/29 |  | 100 | 110,507 |
Sr. Unsec’d. Notes | 4.223(ff) | 05/01/29 |  | 175 | 198,086 |
 |  |  | |||
 | |||||
HSBC Holdings PLC (United Kingdom), Sr. Unsec’d. Notes | 4.583(ff) | 06/19/29 |  | 85 | 96,431 |
JPMorgan Chase & Co., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.522(ff) | 04/22/31 |  | 30 | 30,268 |
Sr. Unsec’d. Notes | 2.525(ff) | 11/19/41 |  | 10 | 9,123 |
Sr. Unsec’d. Notes | 2.580(ff) | 04/22/32 |  | 25 | 25,107 |
Sr. Unsec’d. Notes | 2.739(ff) | 10/15/30 |  | 15 | 15,393 |
Sr. Unsec’d. Notes | 3.509(ff) | 01/23/29 |  | 260 | 283,575 |
Sr. Unsec’d. Notes | 3.882(ff) | 07/24/38 |  | 95 | 105,233 |
Sr. Unsec’d. Notes | 4.452(ff) | 12/05/29 |  | 65 | 74,966 |
Sub. Notes | 3.875 | 09/10/24 | Â | 60 | 65,598 |
Morgan Stanley, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.217(ff) | 04/22/42 |  | 5 | 5,070 |
Sr. Unsec’d. Notes | 4.375 | 01/22/47 |  | 55 | 66,189 |
Sr. Unsec’d. Notes, GMTN | 3.772(ff) | 01/24/29 |  | 170 | 187,817 |
4
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Banks (cont’d.) | |||||
Morgan Stanley, (cont’d.) |  |  |  |  |  |
Sr. Unsec’d. Notes, GMTN | 4.431 %(ff) | 01/23/30 |  | 70 |  $80,733 |
Sr. Unsec’d. Notes, MTN | 1.794(ff) | 02/13/32 |  | 55 | 51,609 |
Sr. Unsec’d. Notes, MTN | 1.928(ff) | 04/28/32 |  | 80 | 75,879 |
 |  |  | |||
 | |||||
Natwest Group PLC (United Kingdom), Sr. Unsec’d. Notes | 4.269(ff) | 03/22/25 |  | 30 | 32,718 |
PNC Financial Services Group, Inc. (The), Sub. Notes | 3.900 | 04/29/24 | Â | 50 | 54,645 |
Truist Bank, Sr. Unsec’d. Notes | 2.750 | 05/01/23 |  | 20 | 20,924 |
Truist Financial Corp., Sr. Unsec’d. Notes | 2.700 | 01/27/22 |  | 20 | 20,320 |
Wells Fargo & Co., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.000 | 10/23/26 |  | 55 | 59,304 |
Sr. Unsec’d. Notes, MTN | 2.572(ff) | 02/11/31 |  | 70 | 70,777 |
Sr. Unsec’d. Notes, MTN | 2.879(ff) | 10/30/30 |  | 185 | 191,983 |
Sr. Unsec’d. Notes, MTN | 3.000 | 02/19/25 |  | 90 | 96,624 |
 |  |  |  |  | 3,511,732 |
Beverages 0.6% | |||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium), | Â | Â | Â | Â | Â |
Gtd. Notes | 4.700 | 02/01/36 | Â | 20 | 23,656 |
Gtd. Notes | 4.900 | 02/01/46 | Â | 90 | 107,515 |
Anheuser-Busch InBev Worldwide, Inc. (Belgium), | Â | Â | Â | Â | Â |
Gtd. Notes | 4.750 | 01/23/29 | Â | 80 | 93,890 |
Gtd. Notes | 5.550 | 01/23/49 | Â | 30 | 38,778 |
Constellation Brands, Inc., | Â | Â | Â | Â | Â |
Gtd. Notes | 3.700 | 12/06/26 | Â | 20 | 22,174 |
Gtd. Notes | 4.400 | 11/15/25 | Â | 10 | 11,322 |
 |  |  | |||
 | |||||
PepsiCo, Inc., Sr. Unsec’d. Notes | 2.750 | 03/05/22 |  | 75 | 76,595 |
 |  |  |  |  | 373,930 |
Biotechnology 0.3% | |||||
Amgen, Inc., Sr. Unsec’d. Notes | 2.600 | 08/19/26 |  | 180 | 190,500 |
5
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Biotechnology (cont’d.) | |||||
Gilead Sciences, Inc., Sr. Unsec’d. Notes | 4.400 % | 12/01/21 |  | 20 |  $20,264 |
Regeneron Pharmaceuticals, Inc., Sr. Unsec’d. Notes | 2.800 | 09/15/50 |  | 15 | 13,068 |
 |  |  |  |  | 223,832 |
Building Materials 0.2% | |||||
Martin Marietta Materials, Inc., Sr. Unsec’d. Notes, Series CB | 2.500 | 03/15/30 |  | 30 | 30,219 |
Owens Corning, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 4.200 | 12/01/24 |  | 35 | 38,581 |
Sr. Unsec’d. Notes | 4.300 | 07/15/47 |  | 35 | 39,146 |
 |  |  | |||
 | |||||
Vulcan Materials Co., Sr. Unsec’d. Notes | 4.500 | 06/15/47 |  | 35 | 40,968 |
 |  |  |  |  | 148,914 |
Chemicals 0.7% | |||||
Dow Chemical Co. (The), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.625 | 05/15/26 |  | 55 | 60,691 |
Sr. Unsec’d. Notes | 4.625 | 10/01/44 |  | 20 | 23,487 |
Sr. Unsec’d. Notes | 5.550 | 11/30/48 |  | 10 | 13,388 |
 |  |  | |||
 | |||||
DuPont de Nemours, Inc., Sr. Unsec’d. Notes | 4.493 | 11/15/25 |  | 65 | 73,867 |
FMC Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.450 | 10/01/29 |  | 15 | 16,112 |
Sr. Unsec’d. Notes | 4.500 | 10/01/49 |  | 25 | 29,217 |
 |  |  | |||
 | |||||
LYB International Finance BV, Gtd. Notes | 4.875 | 03/15/44 | Â | 45 | 53,586 |
LYB International Finance III LLC, | Â | Â | Â | Â | Â |
Gtd. Notes | 2.250 | 10/01/30 | Â | 5 | 4,884 |
Gtd. Notes | 3.375 | 05/01/30 | Â | 70 | 74,928 |
Gtd. Notes | 3.375 | 10/01/40 | Â | 5 | 5,043 |
Nutrien Ltd. (Canada), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.500 | 06/01/23 |  | 50 | 52,617 |
Sr. Unsec’d. Notes | 5.250 | 01/15/45 |  | 35 | 44,666 |
6
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Chemicals (cont’d.) | |||||
 |  |  | |||
 | |||||
Sherwin-Williams Co. (The), Sr. Unsec’d. Notes | 4.500 % | 06/01/47 |  | 10 |  $11,919 |
 |  |  |  |  | 464,405 |
Commercial Services 0.3% | |||||
California Institute of Technology, Sr. Unsec’d. Notes | 3.650 | 09/01/2119 |  | 15 | 16,084 |
Cintas Corp. No. 2, Gtd. Notes | 3.700 | 04/01/27 | Â | 20 | 22,357 |
Equifax, Inc., Sr. Unsec’d. Notes | 2.600 | 12/01/24 |  | 30 | 31,765 |
IHS Markit Ltd., Sr. Unsec’d. Notes | 4.125 | 08/01/23 |  | 5 | 5,362 |
President & Fellows of Harvard College, Unsec’d. Notes | 3.150 | 07/15/46 |  | 9 | 9,704 |
Trustees of the University of Pennsylvania (The), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.610 | 02/15/2119 |  | 5 | 5,169 |
Unsec’d. Notes, Series 2020 | 2.396 | 10/01/50 |  | 15 | 13,835 |
 |  |  | |||
 | |||||
University of Southern California, Unsec’d. Notes, Series 2017 | 3.841 | 10/01/47 |  | 10 | 11,701 |
Verisk Analytics, Inc., Sr. Unsec’d. Notes | 4.125 | 09/12/22 |  | 20 | 20,972 |
Yale University, Unsec’d. Notes, Series 2020 | 2.402 | 04/15/50 |  | 45 | 42,041 |
 |  |  |  |  | 178,990 |
Computers 0.4% | |||||
Apple, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.250 | 02/23/26 |  | 155 | 170,312 |
Sr. Unsec’d. Notes | 3.850 | 08/04/46 |  | 75 | 86,098 |
 |  |  | |||
 | |||||
Genpact Luxembourg Sarl/Genpact USA, Inc., Gtd. Notes | 1.750 | 04/10/26 | Â | 35 | 34,933 |
 |  |  |  |  | 291,343 |
Diversified Financial Services 0.5% | |||||
Capital One Bank USA NA, Sub. Notes | 3.375 | 02/15/23 | Â | 20 | 20,994 |
7
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Diversified Financial Services (cont’d.) | |||||
Discover Financial Services, Sr. Unsec’d. Notes | 4.100 % | 02/09/27 |  | 20 |  $22,362 |
GE Capital International Funding Co. Unlimited Co., Gtd. Notes | 3.373 | 11/15/25 | Â | 135 | 147,069 |
Jefferies Group LLC, Sr. Unsec’d. Notes | 2.750 | 10/15/32 |  | 55 | 54,289 |
Mastercard, Inc., Sr. Unsec’d. Notes | 3.375 | 04/01/24 |  | 20 | 21,684 |
Private Export Funding Corp., U.S. Gov’t. Gtd. Notes, Series KK | 3.550 | 01/15/24 |  | 25 | 26,906 |
Visa, Inc., Sr. Unsec’d. Notes | 2.700 | 04/15/40 |  | 5 | 4,967 |
 |  |  |  |  | 298,271 |
Electric 3.0% | |||||
AEP Texas, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.800 | 10/01/47 |  | 30 | 31,578 |
Sr. Unsec’d. Notes, Series I | 2.100 | 07/01/30 |  | 25 | 24,305 |
 |  |  | |||
 | |||||
AEP Transmission Co. LLC, Sr. Unsec’d. Notes | 3.750 | 12/01/47 |  | 25 | 27,473 |
Alabama Power Co., Sr. Unsec’d. Notes | 3.850 | 12/01/42 |  | 15 | 16,621 |
Ameren Illinois Co., Sr. Sec’d. Notes | 4.150 | 03/15/46 |  | 30 | 35,094 |
Appalachian Power Co., Sr. Unsec’d. Notes, Series X | 3.300 | 06/01/27 |  | 10 | 10,835 |
Arizona Public Service Co., Sr. Unsec’d. Notes | 2.600 | 08/15/29 |  | 10 | 10,351 |
Atlantic City Electric Co., First Mortgage | 2.300 | 03/15/31 | Â | 10 | 9,964 |
Berkshire Hathaway Energy Co., Sr. Unsec’d. Notes | 6.125 | 04/01/36 |  | 80 | 109,615 |
CenterPoint Energy Houston Electric LLC, General Ref. Mortgage | 3.950 | 03/01/48 | Â | 25 | 28,389 |
CenterPoint Energy, Inc., Sr. Unsec’d. Notes | 2.950 | 03/01/30 |  | 25 | 25,809 |
Commonwealth Edison Co., | Â | Â | Â | Â | Â |
First Mortgage | 4.600 | 08/15/43 | Â | 45 | 55,085 |
First Mortgage, Series 123 | 3.750 | 08/15/47 | Â | 5 | 5,529 |
8
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electric (cont’d.) | |||||
Dominion Energy South Carolina, Inc., | Â | Â | Â | Â | Â |
First Mortgage | 5.100 % | 06/01/65 |  | 15 |  $20,662 |
First Mortgage | 5.450 | 02/01/41 | Â | 20 | 26,472 |
 |  |  | |||
 | |||||
DTE Electric Co., General Ref. Mortgage | 3.750 | 08/15/47 | Â | 20 | 22,159 |
DTE Energy Co., Sr. Unsec’d. Notes | 3.800 | 03/15/27 |  | 50 | 55,497 |
Duke Energy Carolinas LLC, | Â | Â | Â | Â | Â |
First Mortgage | 4.250 | 12/15/41 | Â | 15 | 17,698 |
First Ref. Mortgage | 4.000 | 09/30/42 | Â | 40 | 45,701 |
 |  |  | |||
 | |||||
Duke Energy Corp., Sr. Unsec’d. Notes | 2.650 | 09/01/26 |  | 75 | 79,064 |
Duke Energy Florida LLC, First Mortgage | 6.350 | 09/15/37 | Â | 15 | 21,495 |
Duke Energy Indiana LLC, First Mortgage, Series YYY | 3.250 | 10/01/49 | Â | 45 | 45,653 |
Entergy Louisiana LLC, Collateral Trust | 4.200 | 04/01/50 | Â | 10 | 11,814 |
Entergy Texas, Inc., First Mortgage | 1.750 | 03/15/31 | Â | 50 | 47,006 |
Evergy Kansas Central, Inc., First Mortgage | 4.125 | 03/01/42 | Â | 15 | 17,152 |
Eversource Energy, Sr. Unsec’d. Notes, Series R | 1.650 | 08/15/30 |  | 15 | 14,096 |
Exelon Corp., Sr. Unsec’d. Notes | 5.625 | 06/15/35 |  | 5 | 6,436 |
Florida Power & Light Co., First Mortgage | 5.250 | 02/01/41 | Â | 25 | 33,412 |
Fortis, Inc. (Canada), Sr. Unsec’d. Notes | 3.055 | 10/04/26 |  | 7 | 7,506 |
Georgia Power Co., Sr. Unsec’d. Notes, Series B | 2.650 | 09/15/29 |  | 35 | 36,226 |
Hydro-Quebec (Canada), Local Gov’t. Gtd. Notes, Series IO | 8.050 | 07/07/24 |  | 10 | 12,270 |
Louisville Gas & Electric Co., First Mortgage | 5.125 | 11/15/40 | Â | 5 | 6,201 |
Nevada Power Co., General Ref. Mortgage, Series R | 6.750 | 07/01/37 | Â | 10 | 14,303 |
NextEra Energy Capital Holdings, Inc., Gtd. Notes | 2.750 | 11/01/29 | Â | 30 | 31,187 |
9
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electric (cont’d.) | |||||
 |  |  | |||
Northern States Power Co., First Mortgage | 3.600 % | 09/15/47 |  | 15 |  $16,434 |
Ohio Power Co., Sr. Unsec’d. Notes | 4.000 | 06/01/49 |  | 20 | 22,760 |
Pacific Gas & Electric Co., | Â | Â | Â | Â | Â |
First Mortgage | 1.750 | 06/16/22 | Â | 30 | 30,024 |
First Mortgage | 3.950 | 12/01/47 | Â | 40 | 36,925 |
First Mortgage | 4.500 | 07/01/40 | Â | 15 | 15,101 |
PacifiCorp, | Â | Â | Â | Â | Â |
First Mortgage | 5.250 | 06/15/35 | Â | 45 | 57,632 |
First Mortgage | 6.000 | 01/15/39 | Â | 25 | 34,577 |
 |  |  | |||
 | |||||
PECO Energy Co., First Mortgage | 2.800 | 06/15/50 | Â | 20 | 19,076 |
PPL Capital Funding, Inc., | Â | Â | Â | Â | Â |
Gtd. Notes | 4.125 | 04/15/30 | Â | 30 | 33,984 |
Gtd. Notes | 4.700 | 06/01/43 | Â | 35 | 41,933 |
PPL Electric Utilities Corp., | Â | Â | Â | Â | Â |
First Mortgage | 4.125 | 06/15/44 | Â | 15 | 17,051 |
First Mortgage | 4.150 | 10/01/45 | Â | 20 | 23,129 |
First Mortgage | 6.250 | 05/15/39 | Â | 10 | 14,017 |
 |  |  | |||
 | |||||
PSEG Power LLC, Gtd. Notes | 3.850 | 06/01/23 | Â | 140 | 149,284 |
Public Service Electric & Gas Co., | Â | Â | Â | Â | Â |
First Mortgage, MTN | 3.200 | 08/01/49 | Â | 10 | 10,420 |
First Mortgage, MTN | 3.600 | 12/01/47 | Â | 5 | 5,464 |
First Mortgage, MTN | 3.650 | 09/01/28 | Â | 30 | 33,426 |
First Ref. Mortgage, MTN | 3.950 | 05/01/42 | Â | 10 | 11,497 |
Puget Energy, Inc., | Â | Â | Â | Â | Â |
Sr. Sec’d. Notes | 3.650 | 05/15/25 |  | 20 | 21,559 |
Sr. Sec’d. Notes | 4.100 | 06/15/30 |  | 35 | 38,507 |
San Diego Gas & Electric Co., | Â | Â | Â | Â | Â |
First Mortgage, Series RRR | 3.750 | 06/01/47 | Â | 5 | 5,467 |
First Mortgage, Series UUU | 3.320 | 04/15/50 | Â | 25 | 25,647 |
 |  |  | |||
 | |||||
Sempra Energy, Sr. Unsec’d. Notes | 4.000 | 02/01/48 |  | 25 | 27,000 |
Southern California Edison Co., | Â | Â | Â | Â | Â |
First Ref. Mortgage | 4.000 | 04/01/47 | Â | 30 | 31,366 |
First Ref. Mortgage | 4.650 | 10/01/43 | Â | 40 | 46,014 |
First Ref. Mortgage, Series C | 3.500 | 10/01/23 | Â | 50 | 53,164 |
 |  |  | |||
 |
10
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electric (cont’d.) | |||||
 |  |  | |||
Tampa Electric Co., Sr. Unsec’d. Notes | 4.450 % | 06/15/49 |  | 20 |  $24,368 |
Virginia Electric & Power Co., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes, Series A | 6.000 | 05/15/37 |  | 20 | 27,322 |
Sr. Unsec’d. Notes, Series B | 6.000 | 01/15/36 |  | 10 | 13,566 |
 |  |  | |||
 | |||||
Xcel Energy, Inc., Sr. Unsec’d. Notes | 4.000 | 06/15/28 |  | 70 | 78,526 |
 |  |  |  |  | 1,927,898 |
Electronics 0.1% | |||||
Agilent Technologies, Inc., Sr. Unsec’d. Notes | 2.300 | 03/12/31 |  | 50 | 49,179 |
FLIR Systems, Inc., Sr. Unsec’d. Notes | 2.500 | 08/01/30 |  | 5 | 4,969 |
 |  |  |  |  | 54,148 |
Foods 0.1% | |||||
Kroger Co. (The), Sr. Unsec’d. Notes | 2.650 | 10/15/26 |  | 5 | 5,313 |
Mondelez International, Inc., Sr. Unsec’d. Notes | 2.750 | 04/13/30 |  | 25 | 25,813 |
Tyson Foods, Inc., Sr. Unsec’d. Notes | 4.000 | 03/01/26 |  | 60 | 67,083 |
 |  |  |  |  | 98,209 |
Forest Products & Paper 0.1% | |||||
International Paper Co., Sr. Unsec’d. Notes | 5.000 | 09/15/35 |  | 30 | 36,903 |
Gas 0.1% | |||||
Atmos Energy Corp., Sr. Unsec’d. Notes | 3.375 | 09/15/49 |  | 15 | 15,411 |
11
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Gas (cont’d.) | |||||
NiSource, Inc., Sr. Unsec’d. Notes | 4.800 % | 02/15/44 |  | 25 |  $30,084 |
Southern Co. Gas Capital Corp., Gtd. Notes | 4.400 | 06/01/43 | Â | 25 | 28,453 |
 |  |  |  |  | 73,948 |
Hand/Machine Tools 0.0% | |||||
Stanley Black & Decker, Inc., Sr. Unsec’d. Notes | 2.750 | 11/15/50 |  | 35 | 32,293 |
Healthcare-Products 0.1% | |||||
Abbott Laboratories, Sr. Unsec’d. Notes | 4.900 | 11/30/46 |  | 25 | 32,840 |
Stryker Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.375 | 05/15/24 |  | 10 | 10,760 |
Sr. Unsec’d. Notes | 3.375 | 11/01/25 |  | 10 | 10,944 |
 |  |  | |||
 | |||||
Thermo Fisher Scientific, Inc., Sr. Unsec’d. Notes | 4.133 | 03/25/25 |  | 10 | 11,128 |
 |  |  |  |  | 65,672 |
Healthcare-Services 1.2% | |||||
Advocate Health & Hospitals Corp., Sr. Unsec’d. Notes | 3.387 | 10/15/49 |  | 15 | 15,805 |
Aetna, Inc., Sr. Unsec’d. Notes | 2.750 | 11/15/22 |  | 50 | 51,453 |
AHS Hospital Corp., Sr. Unsec’d. Notes, Series 2021 | 2.780 | 07/01/51 |  | 10 | 9,452 |
Anthem, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.650 | 12/01/27 |  | 90 | 99,991 |
Sr. Unsec’d. Notes | 4.625 | 05/15/42 |  | 25 | 29,903 |
Ascension Health, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes, Series B | 2.532 | 11/15/29 |  | 15 | 15,538 |
Unsec’d. Notes | 4.847 | 11/15/53 |  | 30 | 40,453 |
 |  |  | |||
 | |||||
Baylor Scott & White Holdings, Unsec’d. Notes, Series 2021 | 1.777 | 11/15/30 |  | 30 | 28,834 |
Children’s Health System of Texas, Unsec’d. Notes | 2.511 | 08/15/50 |  | 10 | 8,947 |
12
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Healthcare-Services (cont’d.) | |||||
 |  |  | |||
Children’s Hospital Corp. (The), Gtd. Notes, Series 2017 | 4.115 % | 01/01/47 |  | 10 |  $12,031 |
CommonSpirit Health, Sr. Sec’d. Notes | 2.760 | 10/01/24 |  | 20 | 21,162 |
Kaiser Foundation Hospitals, Gtd. Notes | 4.150 | 05/01/47 | Â | 20 | 24,064 |
Memorial Sloan-Kettering Cancer Center, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 5.000 | 07/01/42 |  | 30 | 39,376 |
Unsec’d. Notes, Series 2020 | 2.955 | 01/01/50 |  | 10 | 9,856 |
 |  |  | |||
 | |||||
Methodist Hospital (The), Unsec’d. Notes, Series 20A | 2.705 | 12/01/50 |  | 25 | 23,205 |
Mount Sinai Hospitals Group, Inc., Sec’d. Notes, Series 2019 | 3.737 | 07/01/49 |  | 10 | 10,568 |
New York & Presbyterian Hospital (The), Unsec’d. Notes | 4.024 | 08/01/45 |  | 45 | 52,950 |
NYU Langone Hospitals, Sec’d. Notes | 4.368 | 07/01/47 |  | 15 | 17,485 |
PeaceHealth Obligated Group, Sr. Unsec’d. Notes, Series 2020 | 1.375 | 11/15/25 |  | 5 | 5,028 |
Providence St. Joseph Health Obligated Group, | Â | Â | Â | Â | Â |
Unsec’d. Notes, Series 19A | 2.532 | 10/01/29 |  | 10 | 10,299 |
Unsec’d. Notes, Series H | 2.746 | 10/01/26 |  | 30 | 32,037 |
Stanford Health Care, | Â | Â | Â | Â | Â |
Unsec’d. Notes | 3.027 | 08/15/51 |  | 30 | 29,720 |
Unsec’d. Notes, Series 2018 | 3.795 | 11/15/48 |  | 15 | 17,229 |
 |  |  | |||
 | |||||
Sutter Health, Unsec’d. Notes, Series 2018 | 4.091 | 08/15/48 |  | 45 | 51,976 |
UnitedHealth Group, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.750 | 07/15/25 |  | 90 | 100,195 |
Sr. Unsec’d. Notes | 3.875 | 08/15/59 |  | 5 | 5,589 |
Sr. Unsec’d. Notes | 4.250 | 06/15/48 |  | 25 | 29,601 |
 |  |  |  |  | 792,747 |
Insurance 0.7% | |||||
American International Group, Inc., Sr. Unsec’d. Notes | 4.500 | 07/16/44 |  | 85 | 98,261 |
Arch Capital Finance LLC, Gtd. Notes | 4.011 | 12/15/26 | Â | 45 | 50,963 |
13
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Insurance (cont’d.) | |||||
Berkshire Hathaway, Inc., Sr. Unsec’d. Notes | 3.125 % | 03/15/26 |  | 50 |  $54,781 |
Chubb Corp. (The), Gtd. Notes | 6.000 | 05/11/37 | Â | 30 | 42,162 |
CNA Financial Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.900 | 05/01/29 |  | 25 | 27,791 |
Sr. Unsec’d. Notes | 3.950 | 05/15/24 |  | 35 | 38,028 |
 |  |  | |||
 | |||||
Everest Reinsurance Holdings, Inc., Sr. Unsec’d. Notes | 3.500 | 10/15/50 |  | 25 | 25,143 |
Lincoln National Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.050 | 01/15/30 |  | 5 | 5,238 |
Sr. Unsec’d. Notes | 4.350 | 03/01/48 |  | 5 | 5,695 |
 |  |  | |||
 | |||||
Loews Corp., Sr. Unsec’d. Notes | 3.200 | 05/15/30 |  | 15 | 16,004 |
Markel Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 4.150 | 09/17/50 |  | 40 | 45,465 |
Sr. Unsec’d. Notes | 4.300 | 11/01/47 |  | 15 | 17,254 |
 |  |  |  |  | 426,785 |
Internet 0.0% | |||||
Amazon.com, Inc., Sr. Unsec’d. Notes | 2.800 | 08/22/24 |  | 10 | 10,725 |
Iron/Steel 0.0% | |||||
Steel Dynamics, Inc., Sr. Unsec’d. Notes | 2.400 | 06/15/25 |  | 10 | 10,457 |
Lodging 0.1% | |||||
Marriott International, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.600 | 04/15/24 |  | 5 | 5,324 |
Sr. Unsec’d. Notes, Series R | 3.125 | 06/15/26 |  | 45 | 47,878 |
 |  |  |  |  | 53,202 |
Machinery-Diversified 0.3% | |||||
John Deere Capital Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.800 | 01/27/23 |  | 10 | 10,446 |
Sr. Unsec’d. Notes, MTN | 2.650 | 06/24/24 |  | 10 | 10,648 |
Sr. Unsec’d. Notes, MTN | 2.800 | 03/06/23 |  | 30 | 31,427 |
14
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Machinery-Diversified (cont’d.) | |||||
Westinghouse Air Brake Technologies Corp., | Â | Â | Â | Â | Â |
Gtd. Notes | 3.450 % | 11/15/26 |  | 60 |  $65,226 |
Gtd. Notes | 4.950 | 09/15/28 | Â | 10 | 11,493 |
 |  |  | |||
 | |||||
Xylem, Inc., Sr. Unsec’d. Notes | 3.250 | 11/01/26 |  | 35 | 38,220 |
 |  |  |  |  | 167,460 |
Media 1.1% | |||||
Charter Communications Operating LLC/Charter Communications Operating Capital, | Â | Â | Â | Â | Â |
Sr. Sec’d. Notes | 3.700 | 04/01/51 |  | 105 | 99,126 |
Sr. Sec’d. Notes | 4.800 | 03/01/50 |  | 15 | 16,485 |
Sr. Sec’d. Notes | 5.375 | 04/01/38 |  | 45 | 53,479 |
Sr. Sec’d. Notes | 6.484 | 10/23/45 |  | 50 | 66,160 |
Comcast Corp., | Â | Â | Â | Â | Â |
Gtd. Notes | 3.450 | 02/01/50 | Â | 75 | 78,359 |
Gtd. Notes | 3.750 | 04/01/40 | Â | 10 | 11,049 |
Gtd. Notes | 4.600 | 08/15/45 | Â | 55 | 67,350 |
Gtd. Notes | 4.650 | 07/15/42 | Â | 10 | 12,266 |
Discovery Communications LLC, | Â | Â | Â | Â | Â |
Gtd. Notes | 4.125 | 05/15/29 | Â | 10 | 11,030 |
Gtd. Notes | 5.300 | 05/15/49 | Â | 25 | 29,917 |
Gtd. Notes, 144A | 4.000 | 09/15/55 | Â | 76 | 74,445 |
ViacomCBS, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.875 | 04/01/24 |  | 20 | 21,591 |
Sr. Unsec’d. Notes | 5.850 | 09/01/43 |  | 20 | 25,666 |
 |  |  | |||
 | |||||
Walt Disney Co. (The), Gtd. Notes | 7.300 | 04/30/28 | Â | 95 | 126,077 |
 |  |  |  |  | 693,000 |
Mining 0.4% | |||||
Barrick North America Finance LLC (Canada), | Â | Â | Â | Â | Â |
Gtd. Notes | 5.700 | 05/30/41 | Â | 35 | 45,875 |
Gtd. Notes | 5.750 | 05/01/43 | Â | 30 | 40,178 |
 |  |  | |||
 | |||||
Barrick PD Australia Finance Pty Ltd. (Canada), Gtd. Notes | 5.950 | 10/15/39 | Â | 20 | 27,015 |
Kinross Gold Corp. (Canada), Gtd. Notes | 4.500 | 07/15/27 | Â | 65 | 74,070 |
15
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Mining (cont’d.) | |||||
Newmont Corp., | Â | Â | Â | Â | Â |
Gtd. Notes | 2.250 % | 10/01/30 |  | 20 |  $19,614 |
Gtd. Notes | 2.800 | 10/01/29 | Â | 40 | 41,403 |
Gtd. Notes | 5.450 | 06/09/44 | Â | 15 | 19,732 |
 |  |  |  |  | 267,887 |
Miscellaneous Manufacturing 0.1% | |||||
Pentair Finance Sarl, Gtd. Notes | 4.500 | 07/01/29 | Â | 15 | 17,411 |
Textron, Inc., Sr. Unsec’d. Notes | 2.450 | 03/15/31 |  | 55 | 54,280 |
 |  |  |  |  | 71,691 |
Oil & Gas 1.0% | |||||
BP Capital Markets America, Inc., Gtd. Notes | 3.245 | 05/06/22 | Â | 60 | 61,814 |
Chevron Corp., Sr. Unsec’d. Notes | 3.078 | 05/11/50 |  | 15 | 14,657 |
Chevron USA, Inc., Gtd. Notes | 6.000 | 03/01/41 | Â | 20 | 28,306 |
ConocoPhillips, | Â | Â | Â | Â | Â |
Gtd. Notes, 144A | 2.400 | 02/15/31 | Â | 15 | 14,875 |
Gtd. Notes, 144A | 3.750 | 10/01/27 | Â | 40 | 44,546 |
Gtd. Notes, 144A | 4.300 | 08/15/28 | Â | 70 | 79,838 |
Gtd. Notes, 144A | 4.875 | 10/01/47 | Â | 5 | 6,242 |
 |  |  | |||
 | |||||
ConocoPhillips Co., Gtd. Notes | 4.950 | 03/15/26 | Â | 30 | 35,025 |
Devon Energy Corp., Sr. Unsec’d. Notes | 5.600 | 07/15/41 |  | 10 | 11,843 |
Diamondback Energy, Inc., | Â | Â | Â | Â | Â |
Gtd. Notes | 3.125 | 03/24/31 | Â | 45 | 45,431 |
Gtd. Notes | 3.500 | 12/01/29 | Â | 35 | 36,676 |
Ecopetrol SA (Colombia), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 5.375 | 06/26/26 |  | 30 | 33,686 |
Sr. Unsec’d. Notes | 5.875 | 09/18/23 |  | 70 | 76,966 |
 |  |  | |||
 | |||||
EOG Resources, Inc., Sr. Unsec’d. Notes | 3.900 | 04/01/35 |  | 25 | 27,437 |
16
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
 |  |  | |||
Equinor ASA (Norway), Gtd. Notes | 3.700 % | 04/06/50 |  | 20 |  $21,699 |
Exxon Mobil Corp., Sr. Unsec’d. Notes | 4.114 | 03/01/46 |  | 20 | 22,466 |
Pioneer Natural Resources Co., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 1.900 | 08/15/30 |  | 40 | 37,382 |
Sr. Unsec’d. Notes | 2.150 | 01/15/31 |  | 20 | 18,918 |
 |  |  | |||
 | |||||
Total Capital International SA (France), Gtd. Notes | 2.829 | 01/10/30 | Â | 25 | 26,288 |
Valero Energy Corp., Sr. Unsec’d. Notes | 4.000 | 04/01/29 |  | 20 | 21,828 |
 |  |  |  |  | 665,923 |
Oil & Gas Services 0.0% | |||||
Halliburton Co., Sr. Unsec’d. Notes | 4.750 | 08/01/43 |  | 25 | 27,122 |
Packaging & Containers 0.1% | |||||
Berry Global, Inc., | Â | Â | Â | Â | Â |
Sr. Sec’d. Notes, 144A | 0.950 | 02/15/24 |  | 35 | 34,958 |
Sr. Sec’d. Notes, 144A | 1.570 | 01/15/26 |  | 55 | 54,638 |
 |  |  |  |  | 89,596 |
Pharmaceuticals 2.2% | |||||
AbbVie, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.200 | 11/21/29 |  | 10 | 10,684 |
Sr. Unsec’d. Notes | 4.250 | 11/21/49 |  | 165 | 187,460 |
Sr. Unsec’d. Notes | 4.550 | 03/15/35 |  | 40 | 47,305 |
Sr. Unsec’d. Notes | 4.700 | 05/14/45 |  | 45 | 53,610 |
 |  |  | |||
 | |||||
Becton, Dickinson & Co., Sr. Unsec’d. Notes | 3.734 | 12/15/24 |  | 32 | 35,034 |
Bristol-Myers Squibb Co., Sr. Unsec’d. Notes | 4.250 | 10/26/49 |  | 45 | 53,356 |
Cigna Corp., | Â | Â | Â | Â | Â |
Gtd. Notes | 4.500 | 02/25/26 | Â | 120 | 136,767 |
Gtd. Notes | 4.900 | 12/15/48 | Â | 15 | 18,536 |
Sr. Unsec’d. Notes | 2.375 | 03/15/31 |  | 20 | 19,747 |
Sr. Unsec’d. Notes | 2.400 | 03/15/30 |  | 10 | 10,005 |
17
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pharmaceuticals (cont’d.) | |||||
Cigna Corp., (cont’d.) |  |  |  |  |  |
Sr. Unsec’d. Notes | 3.400 % | 03/15/50 |  | 45 |  $44,692 |
CVS Health Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 4.300 | 03/25/28 |  | 37 | 42,106 |
Sr. Unsec’d. Notes | 4.780 | 03/25/38 |  | 35 | 41,850 |
Sr. Unsec’d. Notes | 5.050 | 03/25/48 |  | 50 | 61,534 |
Sr. Unsec’d. Notes | 5.125 | 07/20/45 |  | 40 | 49,817 |
 |  |  | |||
 | |||||
GlaxoSmithKline Capital PLC (United Kingdom), Gtd. Notes | 2.850 | 05/08/22 | Â | 45 | 46,181 |
Johnson & Johnson, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.100 | 09/01/40 |  | 15 | 13,737 |
Sr. Unsec’d. Notes | 3.625 | 03/03/37 |  | 45 | 50,994 |
Merck & Co., Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.400 | 09/15/22 |  | 100 | 102,426 |
Sr. Unsec’d. Notes | 3.400 | 03/07/29 |  | 15 | 16,641 |
Mylan, Inc., | Â | Â | Â | Â | Â |
Gtd. Notes | 4.200 | 11/29/23 | Â | 30 | 32,326 |
Gtd. Notes | 5.200 | 04/15/48 | Â | 75 | 87,177 |
 |  |  | |||
 | |||||
Pfizer, Inc., Sr. Unsec’d. Notes | 2.550 | 05/28/40 |  | 35 | 33,596 |
Takeda Pharmaceutical Co. Ltd. (Japan), Sr. Unsec’d. Notes | 2.050 | 03/31/30 |  | 135 | 130,742 |
Viatris, Inc., | Â | Â | Â | Â | Â |
Gtd. Notes, 144A | 3.850 | 06/22/40 | Â | 10 | 10,196 |
Gtd. Notes, 144A | 4.000 | 06/22/50 | Â | 50 | 49,761 |
 |  |  | |||
 | |||||
Wyeth LLC, Gtd. Notes | 6.450 | 02/01/24 | Â | 50 | 57,963 |
 |  |  |  |  | 1,444,243 |
Pipelines 1.4% | |||||
Energy Transfer LP, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.900 | 07/15/26 |  | 50 | 54,089 |
Sr. Unsec’d. Notes | 4.200 | 04/15/27 |  | 30 | 32,807 |
Sr. Unsec’d. Notes | 4.750 | 01/15/26 |  | 40 | 44,655 |
Sr. Unsec’d. Notes | 4.900 | 03/15/35 |  | 30 | 32,773 |
Sr. Unsec’d. Notes | 5.300 | 04/15/47 |  | 10 | 10,690 |
Sr. Unsec’d. Notes | 6.625 | 10/15/36 |  | 10 | 12,452 |
Enterprise Products Operating LLC, | Â | Â | Â | Â | Â |
Gtd. Notes | 3.200 | 02/15/52 | Â | 5 | 4,610 |
18
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pipelines (cont’d.) | |||||
Enterprise Products Operating LLC, (cont’d.) |  |  |  |  |  |
Gtd. Notes | 4.850 % | 03/15/44 |  | 105 |   $122,507 |
 |  |  | |||
 | |||||
Kinder Morgan, Inc., Gtd. Notes | 3.250 | 08/01/50 | Â | 5 | 4,538 |
Magellan Midstream Partners LP, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.250 | 06/01/30 |  | 20 | 21,223 |
Sr. Unsec’d. Notes | 3.950 | 03/01/50 |  | 40 | 40,703 |
Sr. Unsec’d. Notes | 4.200 | 10/03/47 |  | 10 | 10,460 |
MPLX LP, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 4.125 | 03/01/27 |  | 10 | 11,141 |
Sr. Unsec’d. Notes | 4.500 | 07/15/23 |  | 20 | 21,463 |
Sr. Unsec’d. Notes | 4.500 | 04/15/38 |  | 20 | 21,999 |
Sr. Unsec’d. Notes | 4.700 | 04/15/48 |  | 50 | 54,861 |
Sr. Unsec’d. Notes | 4.800 | 02/15/29 |  | 50 | 57,649 |
 |  |  | |||
 | |||||
ONEOK Partners LP, Gtd. Notes | 3.375 | 10/01/22 | Â | 35 | 36,140 |
ONEOK, Inc., | Â | Â | Â | Â | Â |
Gtd. Notes | 3.100 | 03/15/30 | Â | 95 | 96,459 |
Gtd. Notes | 4.450 | 09/01/49 | Â | 25 | 25,952 |
Gtd. Notes | 4.950 | 07/13/47 | Â | 10 | 10,993 |
Phillips 66 Partners LP, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.750 | 03/01/28 |  | 10 | 10,776 |
Sr. Unsec’d. Notes | 4.900 | 10/01/46 |  | 25 | 28,154 |
Plains All American Pipeline LP/PAA Finance Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.550 | 12/15/29 |  | 25 | 25,371 |
Sr. Unsec’d. Notes | 3.800 | 09/15/30 |  | 5 | 5,148 |
Transcontinental Gas Pipe Line Co. LLC, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.250 | 05/15/30 |  | 40 | 42,280 |
Sr. Unsec’d. Notes | 4.600 | 03/15/48 |  | 30 | 34,834 |
Williams Cos., Inc. (The), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.750 | 06/15/27 |  | 30 | 33,042 |
Sr. Unsec’d. Notes | 4.850 | 03/01/48 |  | 5 | 5,673 |
 |  |  |  |  | 913,442 |
Real Estate Investment Trusts (REITs) 0.6% | |||||
Boston Properties LP, Sr. Unsec’d. Notes | 3.850 | 02/01/23 |  | 20 | 20,976 |
Essex Portfolio LP, Gtd. Notes | 1.700 | 03/01/28 | Â | 15 | 14,585 |
19
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Real Estate Investment Trusts (REITs) (cont’d.) | |||||
Healthpeak Properties, Inc., Sr. Unsec’d. Notes | 3.000 % | 01/15/30 |  | 20 |  $20,897 |
Kimco Realty Corp., Sr. Unsec’d. Notes | 1.900 | 03/01/28 |  | 25 | 24,714 |
Realty Income Corp., Sr. Unsec’d. Notes | 3.000 | 01/15/27 |  | 10 | 10,673 |
Simon Property Group LP, | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.450 | 09/13/29 |  | 20 | 20,145 |
Sr. Unsec’d. Notes | 3.375 | 10/01/24 |  | 70 | 75,402 |
Sr. Unsec’d. Notes | 3.500 | 09/01/25 |  | 5 | 5,464 |
Sr. Unsec’d. Notes | 3.750 | 02/01/24 |  | 10 | 10,779 |
 |  |  | |||
 | |||||
Spirit Realty LP, Gtd. Notes | 2.700 | 02/15/32 | Â | 25 | 24,291 |
Ventas Realty LP, Gtd. Notes | 3.850 | 04/01/27 | Â | 15 | 16,685 |
VEREIT Operating Partnership LP, Gtd. Notes | 3.100 | 12/15/29 | Â | 45 | 47,398 |
Welltower, Inc., Sr. Unsec’d. Notes | 2.700 | 02/15/27 |  | 10 | 10,600 |
Weyerhaeuser Co., Sr. Unsec’d. Notes | 4.000 | 04/15/30 |  | 65 | 72,831 |
WP Carey, Inc., Sr. Unsec’d. Notes | 2.250 | 04/01/33 |  | 35 | 33,014 |
 |  |  |  |  | 408,454 |
Retail 0.5% | |||||
AutoZone, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 1.650 | 01/15/31 |  | 5 | 4,642 |
Sr. Unsec’d. Notes | 3.750 | 04/18/29 |  | 30 | 32,899 |
 |  |  | |||
 | |||||
Costco Wholesale Corp., Sr. Unsec’d. Notes | 1.600 | 04/20/30 |  | 15 | 14,506 |
Dollar Tree, Inc., Sr. Unsec’d. Notes | 4.200 | 05/15/28 |  | 30 | 34,055 |
Home Depot, Inc. (The), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.750 | 02/15/24 |  | 125 | 135,411 |
Sr. Unsec’d. Notes | 3.900 | 06/15/47 |  | 30 | 34,311 |
 |  |  | |||
 | |||||
Lowe’s Cos., Inc., Sr. Unsec’d. Notes | 3.100 | 05/03/27 |  | 20 | 21,693 |
20
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Retail (cont’d.) | |||||
McDonald’s Corp., |  |  |  |  |  |
Sr. Unsec’d. Notes, MTN | 3.700 % | 01/30/26 |  | 5 |  $5,553 |
Sr. Unsec’d. Notes, MTN | 4.700 | 12/09/35 |  | 25 | 30,191 |
 |  |  | |||
 | |||||
O’Reilly Automotive, Inc., Sr. Unsec’d. Notes | 1.750 | 03/15/31 |  | 15 | 14,055 |
 |  |  |  |  | 327,316 |
Semiconductors 0.3% | |||||
Broadcom, Inc., | Â | Â | Â | Â | Â |
Gtd. Notes | 3.150 | 11/15/25 | Â | 13 | 13,930 |
Gtd. Notes | 4.110 | 09/15/28 | Â | 75 | 82,712 |
Gtd. Notes, 144A | 3.500 | 02/15/41 | Â | 25 | 24,122 |
Sr. Unsec’d. Notes, 144A | 3.419 | 04/15/33 |  | 62 | 62,857 |
 |  |  |  |  | 183,621 |
Software 0.7% | |||||
Fidelity National Information Services, Inc., Sr. Unsec’d. Notes | 3.100 | 03/01/41 |  | 25 | 24,802 |
Fiserv, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.750 | 07/01/24 |  | 5 | 5,306 |
Sr. Unsec’d. Notes | 3.850 | 06/01/25 |  | 15 | 16,542 |
 |  |  | |||
 | |||||
Intuit, Inc., Sr. Unsec’d. Notes | 1.350 | 07/15/27 |  | 5 | 4,947 |
Microsoft Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.525 | 06/01/50 |  | 38 | 35,349 |
Sr. Unsec’d. Notes | 2.875 | 02/06/24 |  | 85 | 90,519 |
Sr. Unsec’d. Notes | 2.921 | 03/17/52 |  | 52 | 52,008 |
Oracle Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.800 | 04/01/27 |  | 100 | 105,875 |
Sr. Unsec’d. Notes | 2.950 | 05/15/25 |  | 85 | 90,814 |
 |  |  | |||
 | |||||
ServiceNow, Inc., Sr. Unsec’d. Notes | 1.400 | 09/01/30 |  | 30 | 27,401 |
 |  |  |  |  | 453,563 |
Telecommunications 1.3% | |||||
AT&T, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 1.700 | 03/25/26 |  | 100 | 100,447 |
21
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Telecommunications (cont’d.) | |||||
AT&T, Inc., (cont’d.) |  |  |  |  |  |
Sr. Unsec’d. Notes | 3.500 % | 06/01/41 |  | 110 |  $108,585 |
Sr. Unsec’d. Notes, 144A | 2.550 | 12/01/33 |  | 19 | 18,104 |
Sr. Unsec’d. Notes, 144A | 3.550 | 09/15/55 |  | 105 | 96,758 |
Sr. Unsec’d. Notes, 144A | 3.800 | 12/01/57 |  | 30 | 28,638 |
T-Mobile USA, Inc., | Â | Â | Â | Â | Â |
Sr. Sec’d. Notes, 144A | 2.050 | 02/15/28 |  | 50 | 49,674 |
Sr. Sec’d. Notes, 144A | 3.000 | 02/15/41 |  | 110 | 103,105 |
Sr. Sec’d. Notes, 144A | 3.875 | 04/15/30 |  | 15 | 16,368 |
Verizon Communications, Inc., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 2.650 | 11/20/40 |  | 10 | 9,281 |
Sr. Unsec’d. Notes | 3.400 | 03/22/41 |  | 45 | 46,063 |
Sr. Unsec’d. Notes | 4.016 | 12/03/29 |  | 45 | 50,873 |
Sr. Unsec’d. Notes | 4.522 | 09/15/48 |  | 163 | 193,102 |
 |  |  |  |  | 820,998 |
Transportation 0.3% | |||||
Burlington Northern Santa Fe LLC, Sr. Unsec’d. Notes | 3.750 | 04/01/24 |  | 75 | 81,246 |
CSX Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.800 | 03/01/28 |  | 40 | 44,592 |
Sr. Unsec’d. Notes | 3.800 | 04/15/50 |  | 15 | 16,208 |
Union Pacific Corp., | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 3.000 | 04/15/27 |  | 20 | 21,675 |
Sr. Unsec’d. Notes | 3.250 | 02/05/50 |  | 40 | 39,885 |
Sr. Unsec’d. Notes | 3.600 | 09/15/37 |  | 10 | 10,871 |
Sr. Unsec’d. Notes | 3.750 | 02/05/70 |  | 5 | 5,167 |
 |  |  |  |  | 219,644 |
 |  |  | |||
 | |||||
Total Corporate Bonds (cost $16,418,354) | 16,908,572 | ||||
Municipal Bonds 0.9% | |||||
Arizona 0.1% | |||||
Salt River Project Agricultural Improvement & Power District, Revenue Bonds, BABs | 4.839 | 01/01/41 | Â | 35 | 44,721 |
22
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
California 0.4% | |||||
Bay Area Toll Authority, | Â | Â | Â | Â | Â |
Revenue Bonds, BABs, Series F2 | 6.263 % | 04/01/49 |  | 100 |  $157,769 |
Taxable, Revenue Bonds | 2.574 | 04/01/31 | Â | 15 | 15,672 |
 |  |  | |||
 | |||||
Los Angeles Department of Water & Power, Power System Revenue, Revenue Bonds, BABs | 5.716 | 07/01/39 | Â | 20 | 27,823 |
State of California, General Obligation Unlimited, Taxable, BABs | 7.550 | 04/01/39 | Â | 30 | 49,237 |
 |  |  |  |  | 250,501 |
Illinois 0.0% | |||||
State of Illinois, General Obligation Unlimited, Taxable | 5.100 | 06/01/33 | Â | 25 | 28,392 |
Michigan 0.1% | |||||
Michigan Finance Authority, Taxable, Revenue Bonds | 3.384 | 12/01/40 | Â | 15 | 15,784 |
University of Michigan, Taxable, Revenue Bonds, Series B | 2.437 | 04/01/40 | Â | 25 | 24,159 |
 |  |  |  |  | 39,943 |
New Jersey 0.2% | |||||
New Jersey Turnpike Authority, Taxable, Revenue Bonds, BABs, Series F | 7.414 | 01/01/40 | Â | 60 | 96,490 |
New York 0.0% | |||||
Port Authority of New York & New Jersey, Revenue Bonds | 4.458 | 10/01/62 | Â | 15 | 18,942 |
Ohio 0.1% | |||||
JobsOhio Beverage System, Taxable, Revenue Bonds, Series A | 2.833 | 01/01/38 | Â | 5 | 5,102 |
Ohio State University (The), | Â | Â | Â | Â | Â |
Taxable, Revenue Bonds, Series A | 4.048 | 12/01/56 | Â | 12 | 14,856 |
Taxable, Revenue Bonds, Series A | 4.800 | 06/01/2111 | Â | 25 | 32,608 |
Taxable, Revenue Bonds, BABs, Series C | 4.910 | 06/01/40 | Â | 10 | 13,206 |
 |  |  |  |  | 65,772 |
23
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Texas 0.0% | |||||
Texas Private Activity Bond Surface Transportation Corp., Taxable, Revenue Bonds, Series B | 3.922 % | 12/31/49 |  | 15 |  $16,111 |
 |  |  | |||
 | |||||
Total Municipal Bonds (cost $521,378) | 560,872 | ||||
Sovereign Bonds 1.5% | |||||
Hungary Government International Bond (Hungary), Sr. Unsec’d. Notes | 7.625 | 03/29/41 |  | 16 | 25,848 |
Indonesia Government International Bond (Indonesia), Sr. Unsec’d. Notes | 3.500 | 01/11/28 |  | 200 | 216,800 |
Israel Government International Bond (Israel), Sr. Unsec’d. Notes | 2.875 | 03/16/26 |  | 225 | 242,995 |
Mexico Government International Bond (Mexico), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 4.000 | 10/02/23 |  | 100 | 108,317 |
Sr. Unsec’d. Notes, MTN | 4.750 | 03/08/44 |  | 66 | 70,266 |
 |  |  | |||
 | |||||
Philippine Government International Bond (Philippines), Sr. Unsec’d. Notes | 7.750 | 01/14/31 |  | 100 | 146,583 |
Province of Quebec (Canada), Debentures, Series NN | 7.125 | 02/09/24 | Â | 40 | 47,118 |
Uruguay Government International Bond (Uruguay), | Â | Â | Â | Â | Â |
Sr. Unsec’d. Notes | 4.975 | 04/20/55 |  | 10 | 12,349 |
Sr. Unsec’d. Notes | 5.100 | 06/18/50 |  | 55 | 68,797 |
 |  |  | |||
 | |||||
Total Sovereign Bonds (cost $926,703) | 939,073 | ||||
U.S. Government Agency Obligations 29.2% | |||||
Federal Home Loan Bank | 3.250 | 11/16/28 | Â | 70 | 79,318 |
Federal Home Loan Mortgage Corp. | 0.375 | 05/05/23 | Â | 105 | 105,380 |
Federal Home Loan Mortgage Corp. | 1.500 | 10/01/50 | Â | 248 | 242,846 |
Federal Home Loan Mortgage Corp. | 2.000 | 01/01/32 | Â | 46 | 47,589 |
Federal Home Loan Mortgage Corp. | 2.000 | 12/01/50 | Â | 492 | 496,830 |
Federal Home Loan Mortgage Corp. | 2.500 | 07/01/31 | Â | 118 | 123,939 |
Federal Home Loan Mortgage Corp. | 2.500 | 04/01/51 | Â | 318 | 330,218 |
Federal Home Loan Mortgage Corp. | 3.000 | 02/01/32 | Â | 34 | 35,989 |
Federal Home Loan Mortgage Corp. | 3.000 | 02/01/32 | Â | 37 | 39,215 |
Federal Home Loan Mortgage Corp. | 3.000 | 01/01/37 | Â | 14 | 14,451 |
Federal Home Loan Mortgage Corp. | 3.000 | 12/01/37 | Â | 21 | 21,995 |
24
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
U.S. Government Agency Obligations (Continued) | |||||
Federal Home Loan Mortgage Corp. | 3.000 % | 12/01/42 |  | 113 |  $121,059 |
Federal Home Loan Mortgage Corp. | 3.000 | 11/01/46 | Â | 39 | 41,274 |
Federal Home Loan Mortgage Corp. | 3.000 | 01/01/47 | Â | 242 | 257,172 |
Federal Home Loan Mortgage Corp. | 3.000 | 03/01/47 | Â | 159 | 168,346 |
Federal Home Loan Mortgage Corp. | 3.000 | 12/01/47 | Â | 103 | 108,372 |
Federal Home Loan Mortgage Corp. | 3.000 | 12/01/47 | Â | 161 | 169,492 |
Federal Home Loan Mortgage Corp. | 3.500 | 11/01/37 | Â | 23 | 24,725 |
Federal Home Loan Mortgage Corp. | 3.500 | 06/01/42 | Â | 33 | 36,192 |
Federal Home Loan Mortgage Corp. | 3.500 | 04/01/46 | Â | 49 | 52,550 |
Federal Home Loan Mortgage Corp. | 3.500 | 11/01/47 | Â | 62 | 66,554 |
Federal Home Loan Mortgage Corp. | 3.500 | 11/01/47 | Â | 83 | 89,061 |
Federal Home Loan Mortgage Corp. | 3.500 | 02/01/48 | Â | 233 | 249,188 |
Federal Home Loan Mortgage Corp. | 4.000 | 10/01/45 | Â | 43 | 46,714 |
Federal Home Loan Mortgage Corp. | 4.000 | 05/01/46 | Â | 90 | 97,662 |
Federal Home Loan Mortgage Corp. | 4.000 | 03/01/47 | Â | 56 | 60,221 |
Federal Home Loan Mortgage Corp. | 4.000 | 01/01/48 | Â | 97 | 104,086 |
Federal Home Loan Mortgage Corp. | 4.500 | 07/01/47 | Â | 93 | 102,268 |
Federal Home Loan Mortgage Corp. | 4.500 | 12/01/48 | Â | 27 | 29,719 |
Federal Home Loan Mortgage Corp. | 6.250 | 07/15/32 | Â | 30 | 43,469 |
Federal National Mortgage Assoc. | 0.500 | 06/17/25 | Â | 50 | 49,675 |
Federal National Mortgage Assoc. | 0.500 | 11/07/25 | Â | 30 | 29,706 |
Federal National Mortgage Assoc. | 0.625 | 04/22/25 | Â | 15 | 14,995 |
Federal National Mortgage Assoc. | 0.750 | 10/08/27 | Â | 110 | 106,728 |
Federal National Mortgage Assoc. | 0.875 | 08/05/30 | Â | 50 | 46,682 |
Federal National Mortgage Assoc. | 1.500 | 02/01/51 | Â | 248 | 243,158 |
Federal National Mortgage Assoc. | 2.000 | 07/01/40 | Â | 248 | 253,293 |
Federal National Mortgage Assoc. | 2.000 | 01/01/41 | Â | 509 | 520,084 |
Federal National Mortgage Assoc. | 2.000 | 05/01/41 | Â | 487 | 494,155 |
Federal National Mortgage Assoc. | 2.000 | 09/01/50 | Â | 386 | 390,254 |
Federal National Mortgage Assoc. | 2.000 | 12/01/50 | Â | 188 | 190,335 |
Federal National Mortgage Assoc. | 2.000 | 01/01/51 | Â | 349 | 352,725 |
Federal National Mortgage Assoc. | 2.500 | TBA | Â | 750 | 776,229 |
Federal National Mortgage Assoc. | 2.500 | TBA | Â | 1,000 | 1,037,422 |
Federal National Mortgage Assoc. | 2.500 | 02/05/24 | Â | 95 | 100,770 |
Federal National Mortgage Assoc. | 2.500 | 06/01/28 | Â | 105 | 110,412 |
Federal National Mortgage Assoc. | 2.500 | 01/01/32 | Â | 111 | 117,101 |
Federal National Mortgage Assoc. | 2.500 | 02/01/43 | Â | 47 | 49,439 |
Federal National Mortgage Assoc. | 2.500 | 09/01/46 | Â | 46 | 47,648 |
Federal National Mortgage Assoc. | 2.500 | 09/01/46 | Â | 87 | 90,974 |
Federal National Mortgage Assoc. | 2.500 | 05/01/50 | Â | 235 | 244,183 |
Federal National Mortgage Assoc. | 2.500 | 08/01/50 | Â | 460 | 478,070 |
Federal National Mortgage Assoc. | 2.500 | 10/01/50 | Â | 566 | 588,087 |
25
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
U.S. Government Agency Obligations (Continued) | |||||
Federal National Mortgage Assoc. | 2.500 % | 04/01/51 |  | 438 |  $454,897 |
Federal National Mortgage Assoc. | 3.000 | 11/01/28 | Â | 63 | 67,118 |
Federal National Mortgage Assoc. | 3.000 | 01/01/30 | Â | 133 | 140,115 |
Federal National Mortgage Assoc. | 3.000 | 12/01/36 | Â | 43 | 45,654 |
Federal National Mortgage Assoc. | 3.000 | 10/01/42 | Â | 21 | 23,063 |
Federal National Mortgage Assoc. | 3.000 | 02/01/43 | Â | 259 | 277,048 |
Federal National Mortgage Assoc. | 3.000 | 04/01/43 | Â | 72 | 76,567 |
Federal National Mortgage Assoc. | 3.000 | 08/01/43 | Â | 198 | 212,032 |
Federal National Mortgage Assoc. | 3.000 | 01/01/47 | Â | 242 | 256,058 |
Federal National Mortgage Assoc. | 3.000 | 02/01/47 | Â | 164 | 173,123 |
Federal National Mortgage Assoc. | 3.000 | 01/01/50 | Â | 157 | 164,523 |
Federal National Mortgage Assoc. | 3.500 | 08/01/31 | Â | 39 | 42,266 |
Federal National Mortgage Assoc. | 3.500 | 10/01/32 | Â | 24 | 25,390 |
Federal National Mortgage Assoc. | 3.500 | 06/01/33 | Â | 34 | 36,273 |
Federal National Mortgage Assoc. | 3.500 | 01/01/42 | Â | 104 | 113,337 |
Federal National Mortgage Assoc. | 3.500 | 03/01/42 | Â | 99 | 108,167 |
Federal National Mortgage Assoc. | 3.500 | 10/01/42 | Â | 265 | 288,776 |
Federal National Mortgage Assoc. | 3.500 | 11/01/42 | Â | 69 | 75,407 |
Federal National Mortgage Assoc. | 3.500 | 08/01/43 | Â | 90 | 98,355 |
Federal National Mortgage Assoc. | 3.500 | 03/01/45 | Â | 151 | 163,424 |
Federal National Mortgage Assoc. | 3.500 | 01/01/46 | Â | 33 | 35,743 |
Federal National Mortgage Assoc. | 3.500 | 12/01/46 | Â | 311 | 333,386 |
Federal National Mortgage Assoc. | 3.500 | 01/01/47 | Â | 72 | 77,939 |
Federal National Mortgage Assoc. | 3.500 | 09/01/47 | Â | 109 | 116,929 |
Federal National Mortgage Assoc. | 3.500 | 07/01/49 | Â | 228 | 242,392 |
Federal National Mortgage Assoc. | 4.000 | 01/01/41 | Â | 169 | 186,729 |
Federal National Mortgage Assoc. | 4.000 | 04/01/41 | Â | 98 | 108,573 |
Federal National Mortgage Assoc. | 4.000 | 02/01/47 | Â | 135 | 145,791 |
Federal National Mortgage Assoc. | 4.000 | 04/01/48 | Â | 225 | 242,186 |
Federal National Mortgage Assoc. | 4.000 | 12/01/48 | Â | 216 | 231,922 |
Federal National Mortgage Assoc. | 4.000 | 03/01/49 | Â | 455 | 487,377 |
Federal National Mortgage Assoc. | 4.500 | 03/01/41 | Â | 99 | 109,989 |
Federal National Mortgage Assoc. | 4.500 | 02/01/44 | Â | 94 | 105,316 |
Federal National Mortgage Assoc. | 4.500 | 01/01/45 | Â | 93 | 104,450 |
Federal National Mortgage Assoc. | 4.500 | 04/01/48 | Â | 85 | 92,972 |
Federal National Mortgage Assoc. | 4.500 | 05/01/48 | Â | 22 | 24,152 |
Federal National Mortgage Assoc. | 4.500 | 08/01/48 | Â | 30 | 32,377 |
Federal National Mortgage Assoc. | 4.500 | 02/01/49 | Â | 26 | 28,314 |
Federal National Mortgage Assoc. | 5.000 | 11/01/35 | Â | 117 | 134,590 |
Federal National Mortgage Assoc. | 5.000 | 06/01/40 | Â | 26 | 29,127 |
Federal National Mortgage Assoc. | 5.000 | 03/01/42 | Â | 56 | 65,013 |
Federal National Mortgage Assoc. | 6.625 | 11/15/30 | Â | 15 | 21,485 |
26
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
U.S. Government Agency Obligations (Continued) | |||||
Government National Mortgage Assoc. | 2.500 % | TBA |  | 500 |  $519,727 |
Government National Mortgage Assoc. | 2.500 | 03/20/43 | Â | 11 | 11,472 |
Government National Mortgage Assoc. | 2.500 | 12/20/46 | Â | 21 | 22,271 |
Government National Mortgage Assoc. | 3.000 | 01/20/43 | Â | 101 | 108,030 |
Government National Mortgage Assoc. | 3.000 | 04/20/45 | Â | 47 | 50,371 |
Government National Mortgage Assoc. | 3.000 | 07/20/46 | Â | 88 | 92,798 |
Government National Mortgage Assoc. | 3.000 | 09/20/46 | Â | 90 | 95,110 |
Government National Mortgage Assoc. | 3.000 | 11/20/46 | Â | 63 | 66,319 |
Government National Mortgage Assoc. | 3.000 | 03/20/49 | Â | 124 | 129,651 |
Government National Mortgage Assoc. | 3.000 | 12/20/49 | Â | 332 | 347,039 |
Government National Mortgage Assoc. | 3.000 | 05/20/50 | Â | 211 | 220,632 |
Government National Mortgage Assoc. | 3.500 | 12/20/42 | Â | 206 | 223,039 |
Government National Mortgage Assoc. | 3.500 | 01/20/44 | Â | 60 | 65,094 |
Government National Mortgage Assoc. | 3.500 | 04/20/45 | Â | 35 | 38,090 |
Government National Mortgage Assoc. | 3.500 | 07/20/46 | Â | 164 | 175,495 |
Government National Mortgage Assoc. | 3.500 | 08/20/46 | Â | 246 | 264,292 |
Government National Mortgage Assoc. | 3.500 | 09/20/46 | Â | 38 | 41,000 |
Government National Mortgage Assoc. | 3.500 | 06/20/47 | Â | 98 | 104,882 |
Government National Mortgage Assoc. | 3.500 | 07/20/47 | Â | 110 | 117,573 |
Government National Mortgage Assoc. | 3.500 | 11/20/47 | Â | 74 | 79,249 |
Government National Mortgage Assoc. | 4.000 | 12/20/45 | Â | 103 | 113,629 |
Government National Mortgage Assoc. | 4.000 | 10/20/46 | Â | 6 | 6,869 |
Government National Mortgage Assoc. | 4.000 | 03/20/47 | Â | 57 | 61,694 |
Government National Mortgage Assoc. | 4.000 | 07/20/47 | Â | 75 | 81,149 |
Government National Mortgage Assoc. | 4.000 | 09/20/47 | Â | 191 | 205,930 |
Government National Mortgage Assoc. | 4.000 | 03/20/49 | Â | 34 | 36,563 |
Government National Mortgage Assoc. | 4.500 | 04/20/41 | Â | 19 | 21,308 |
Government National Mortgage Assoc. | 4.500 | 03/20/44 | Â | 50 | 56,247 |
Government National Mortgage Assoc. | 4.500 | 12/20/44 | Â | 47 | 52,513 |
Government National Mortgage Assoc. | 4.500 | 11/20/46 | Â | 27 | 30,192 |
Government National Mortgage Assoc. | 4.500 | 01/20/47 | Â | 8 | 9,268 |
Government National Mortgage Assoc. | 5.000 | 04/20/45 | Â | 33 | 38,351 |
Government National Mortgage Assoc. | 5.500 | 12/15/33 | Â | 14 | 15,962 |
Tennessee Valley Authority, Sr. Unsec’d. Notes | 0.750 | 05/15/25 |  | 25 | 25,044 |
 |  |  | |||
 | |||||
Total U.S. Government Agency Obligations (cost $18,645,761) | 19,063,217 | ||||
U.S. Treasury Obligations 35.4% | |||||
U.S. Treasury Bonds | 1.375 | 11/15/40 | Â | 1,075 | 936,930 |
U.S. Treasury Bonds | 1.375 | 08/15/50 | Â | 225 | 180,492 |
U.S. Treasury Bonds | 1.625 | 11/15/50 | Â | 63 | 53,496 |
27
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
U.S. Treasury Obligations (Continued) | |||||
U.S. Treasury Bonds | 1.875 % | 02/15/41 |  | 135 |  $128,482 |
U.S. Treasury Bonds | 2.500 | 02/15/46 | Â | 410 | 427,489 |
U.S. Treasury Bonds | 3.000 | 11/15/44 | Â | 90 | 102,445 |
U.S. Treasury Bonds | 3.000 | 02/15/47 | Â | 890 | 1,017,471 |
U.S. Treasury Bonds | 3.625 | 08/15/43 | Â | 1,280 | 1,602,400 |
U.S. Treasury Bonds | 3.750 | 11/15/43 | Â | 375 | 478,184 |
U.S. Treasury Bonds | 6.250 | 08/15/23 | Â | 790 | 898,193 |
U.S. Treasury Notes | 0.125 | 09/30/22 | Â | 95 | 95,011 |
U.S. Treasury Notes | 0.125 | 09/15/23 | Â | 1,232 | 1,228,810 |
U.S. Treasury Notes | 0.250 | 09/30/25 | Â | 1,280 | 1,254,300 |
U.S. Treasury Notes | 0.375 | 04/15/24 | Â | 565 | 565,662 |
U.S. Treasury Notes | 0.375 | 04/30/25 | Â | 1,570 | 1,556,017 |
U.S. Treasury Notes | 0.500 | 03/15/23 | Â | 2,159 | 2,172,747 |
U.S. Treasury Notes | 0.750 | 03/31/26 | Â | 135 | 134,473 |
U.S. Treasury Notes | 0.750 | 04/30/26 | Â | 200 | 199,047 |
U.S. Treasury Notes | 1.125 | 02/15/31 | Â | 250 | 238,711 |
U.S. Treasury Notes | 1.250 | 03/31/28 | Â | 25 | 24,926 |
U.S. Treasury Notes | 1.375 | 02/15/23 | Â | 205 | 209,476 |
U.S. Treasury Notes | 1.625 | 11/15/22 | Â | 55 | 56,259 |
U.S. Treasury Notes | 1.625 | 04/30/23 | Â | 1,310 | 1,347,765 |
U.S. Treasury Notes | 1.750 | 09/30/22 | Â | 215 | 219,955 |
U.S. Treasury Notes | 1.875 | 04/30/22 | Â | 1,625 | 1,654,072 |
U.S. Treasury Notes | 2.000 | 02/15/25 | Â | 470 | 495,813 |
U.S. Treasury Notes | 2.000 | 08/15/25 | Â | 795 | 839,905 |
U.S. Treasury Notes | 2.125 | 06/30/22 | Â | 800 | 818,844 |
U.S. Treasury Notes | 2.125 | 07/31/24 | Â | 1,760 | 1,857,900 |
U.S. Treasury Notes | 2.125 | 05/15/25 | Â | 210 | 222,731 |
U.S. Treasury Notes | 2.625 | 02/15/29 | Â | 1,107 | 1,206,329 |
U.S. Treasury Notes | 3.125 | 11/15/28 | Â | 480 | 540,225 |
U.S. Treasury Strips Coupon | 1.122(s) | 02/15/36 | Â | 35 | 25,501 |
U.S. Treasury Strips Coupon | 1.225(s) | 02/15/41 | Â | 15 | 9,484 |
U.S. Treasury Strips Coupon | 1.371(s) | 05/15/42 | Â | 55 | 33,589 |
U.S. Treasury Strips Coupon | 1.394(s) | 11/15/41 | Â | 20 | 12,330 |
U.S. Treasury Strips Coupon | 1.450(s) | 08/15/42 | Â | 15 | 9,068 |
U.S. Treasury Strips Coupon | 1.463(s) | 11/15/42 | Â | 35 | 21,026 |
U.S. Treasury Strips Coupon | 1.920(s) | 02/15/29 | Â | 5 | 4,431 |
U.S. Treasury Strips Coupon | 2.045(s) | 11/15/36 | Â | 45 | 32,099 |
U.S. Treasury Strips Coupon | 2.222(s) | 05/15/39 | Â | 115 | 76,044 |
28
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
U.S. Treasury Obligations (Continued) | |||||
U.S. Treasury Strips Coupon | 2.271 %(s) | 08/15/39 |  | 185 |  $121,753 |
 |  |  | |||
 | |||||
Total U.S. Treasury Obligations (cost $22,937,374) | 23,109,885 | ||||
 | |||||
Total Long-Term Investments (cost $63,151,936) | 64,402,587 |
   Â
 |  |  | Shares |  | |
Short-Term Investment 6.4% | |||||
Affiliated Mutual Fund  |  |  |  |  |  |
PGIM Core Ultra Short Bond Fund (cost $4,183,381)(wb) | Â | Â | 4,183,381 | 4,183,381 | |
 | |||||
TOTAL INVESTMENTS 105.2% (cost $67,335,317) | 68,585,968 | ||||
Liabilities in excess of other assets (5.2)% | (3,374,672) | ||||
 | |||||
Net Assets 100.0% | $65,211,296 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
   Â
  | 144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. |
  | BABs—Build America Bonds |
  | FHLMC—Federal Home Loan Mortgage Corporation |
  | GMTN—Global Medium Term Note |
  | LP—Limited Partnership |
  | MTN—Medium Term Note |
  | REITs—Real Estate Investment Trust |
  | Strips—Separate Trading of Registered Interest and Principal of Securities |
  | TBA—To Be Announced |
   Â
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of April 30, 2021. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
(wb) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund. |
29
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
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).
30