PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 15.5% | |||||
Certificates of Deposit 12.1% | |||||
Banco Santander SA, SOFR + 0.510% | 5.830 %(c) | 01/31/25 | 152,000 | $152,233,936 | |
Bank of America NA | 5.300 | 02/14/25 | 80,000 | 79,817,938 | |
Bank of Montreal, SOFR + 0.640% | 5.960(c) | 07/22/24 | 150,000 | 150,169,591 | |
Bank of Nova Scotia, | |||||
SOFR + 0.300% (Cap N/A, Floor 0.000%) | 5.620(c) | 03/13/25 | 126,000 | 125,969,092 | |
SOFR + 0.480% | 5.800(c) | 12/02/24 | 70,000 | 70,090,875 | |
BNP Paribas SA, | |||||
SOFR + 0.420% | 5.740(c) | 12/18/24 | 70,000 | 70,063,622 | |
SOFR + 0.650% | 5.970(c) | 07/08/24 | 75,000 | 75,077,899 | |
Canadian Imperial Bank of Commerce | 6.000 | 10/18/24 | 62,500 | 62,595,636 | |
Canadian Imperial Bank of Commerce, US Federal Funds Effective Rate + 0.500% (Cap N/A, Floor 0.000%) | 5.830(c) | 01/10/25 | 100,000 | 100,190,999 | |
Citibank NA, | |||||
SOFR + 0.380% (Cap N/A, Floor 0.000%) | 5.700(c) | 01/10/25 | 85,000 | 85,067,300 | |
SOFR + 0.680% (Cap N/A, Floor 0.000%) | 6.000(c) | 06/12/24 | 36,000 | 36,024,341 | |
Credit Industriel et Commercial | 5.550 | 04/14/25 | 31,500 | 31,485,396 | |
Natixis SA | 5.400 | 03/17/25 | 75,000 | 74,889,804 | |
Natixis SA, SOFR + 0.420% | 5.740(c) | 01/06/25 | 140,400 | 140,532,814 | |
Skandinaviska Enskilda Banken AB, SOFR + 0.290% (Cap N/A, Floor 0.000%) | 5.610(c) | 02/24/25 | 90,000 | 90,003,737 | |
Svenska Handelsbanken, | |||||
SOFR + 0.290% (Cap N/A, Floor 0.000%) | 5.610(c) | 02/21/25 | 74,000 | 74,010,306 | |
SOFR + 0.450% (Cap N/A, Floor 0.000%) | 5.770(c) | 12/13/24 | 100,000 | 100,126,601 | |
SOFR + 0.640% (Cap N/A, Floor 0.000%) | 5.960(c) | 07/08/24 | 156,500 | 156,660,425 | |
Swedbank AB, SOFR + 0.640% | 5.960(c) | 07/19/24 | 100,000 | 100,122,218 | |
Toronto-Dominion Bank (The), | |||||
SOFR + 0.640% | 5.960(c) | 07/03/24 | 60,000 | 60,056,618 | |
SOFR + 0.650% | 5.970(c) | 09/13/24 | 100,000 | 100,060,231 | |
Toronto-Dominion Bank (The) | 6.000 | 10/18/24 | 45,000 | 45,067,996 | |
Wells Fargo Bank NA, | |||||
SOFR + 0.640% (Cap N/A, Floor 0.000%) | 5.960(c) | 06/07/24 | 135,000 | 135,077,055 | |
SOFR + 0.660% (Cap N/A, Floor 0.000%) | 5.980(c) | 05/13/24 | 98,000 | 98,019,949 | |
Total Certificates of Deposit (cost $2,211,900,000) | 2,213,414,379 | ||||
Commercial Paper 0.6% | |||||
Bank of New York Mellon Corp. (The), , SOFR + 0.350% (cost $109,000,000) | 5.670(c) | 05/09/25 | 109,000 | 108,992,903 |
1
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds 1.9% | |||||
Auto Manufacturers | |||||
Toyota Motor Credit Corp., | |||||
Sr. Unsec’d. Notes, MTN, SOFR + 0.300% (Cap N/A, Floor 0.000%) | 5.620 %(c) | 02/24/25 | 115,000 | $114,990,839 | |
Sr. Unsec’d. Notes, MTN, SOFR + 0.500% (Cap N/A, Floor 0.000%) | 5.820(c) | 12/09/24 | 68,000 | 68,117,994 | |
Sr. Unsec’d. Notes, MTN, SOFR + 0.520% (Cap N/A, Floor 0.000%) | 5.840(c) | 08/22/24 | 75,000 | 75,053,222 | |
Sr. Unsec’d. Notes, MTN, SOFR + 0.550% (Cap N/A, Floor 0.000%) | 5.877(c) | 10/16/24 | 25,000 | 25,041,750 | |
Sr. Unsec’d. Notes, MTN, SOFR + 0.620% (Cap N/A, Floor 0.000%) | 5.940(c) | 06/13/24 | 60,000 | 60,032,258 | |
Total Corporate Bonds (cost $343,000,000) | 343,236,063 | ||||
Municipal Bonds 0.7% | |||||
Arizona 0.3% | |||||
Maricopa County Industrial Development Authority, Taxable, Revenue Bonds, Series 2021 B-2 | 5.330(cc) | 01/01/61 | 50,000 | 50,000,000 | |
Illinois 0.1% | |||||
Illinois Finance Authority, Taxable, Revenue Bonds | 5.330(cc) | 10/01/42 | 23,500 | 23,500,000 | |
Texas 0.3% | |||||
Board of Regents of the University of Texas System, Taxable, Revenue Bonds, Sub-Series G-2 | 5.320(cc) | 08/01/45 | 52,000 | 52,000,000 | |
Total Municipal Bonds (cost $125,500,000) | 125,500,000 | ||||
U.S. Government Agency Obligation 0.2% | |||||
Federal Home Loan Bank (cost $50,000,000) | 5.425(c) | 11/08/24 | 50,000 | 50,015,603 | |
Total Long-Term Investments (cost $2,839,400,000) | 2,841,158,948 | ||||
2
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Short-Term Investments 84.9% | |||||
Certificates of Deposit 9.5% | |||||
Banco Santander SA, SOFR + 0.400% | 5.720 %(c) | 05/10/24 | 45,000 | $45,003,281 | |
Bank of America NA, | |||||
SOFR + 0.350% | 5.670(c) | 01/07/25 | 73,000 | 73,034,441 | |
SOFR + 0.600% | 5.920(c) | 07/29/24 | 104,000 | 104,113,918 | |
Bank of America Securities, Inc., SOFR + 0.330% | 5.650(c) | 04/03/25 | 100,000 | 99,998,507 | |
Bank of Nova Scotia, SOFR + 0.470% | 5.790(c) | 07/25/24 | 8,000 | 8,006,873 | |
BNP Paribas Fortis SA, SOFR + 0.620% | 5.940(c) | 08/01/24 | 118,750 | 118,903,353 | |
BNP Paribas SA | 5.310 | 11/18/24 | 41,500 | 41,447,358 | |
BNP Paribas SA | 5.550 | 04/04/25 | 50,000 | 49,990,956 | |
BNP Paribas SA | 5.820 | 05/07/24 | 75,000 | 75,004,328 | |
BNP Paribas SA, SOFR + 0.300% | 5.620(c) | 03/04/25 | 25,250 | 25,244,037 | |
Citibank NA | 5.860 | 06/20/24 | 34,600 | 34,607,467 | |
Credit Agricole Corporate & Investment Bank | 5.400 | 03/28/25 | 140,000 | 139,746,012 | |
Credit Agricole Corporate & Investment Bank | 5.470 | 05/06/24 | 194,000 | 194,001,581 | |
Credit Industriel et Commercial | 5.370 | 12/05/24 | 30,000 | 29,967,572 | |
MUFG Bank Ltd., SOFR + 0.280% | 5.600(c) | 07/17/24 | 123,000 | 123,033,444 | |
Natixis SA | 5.750 | 07/22/24 | 67,000 | 67,032,447 | |
Nordea Bank Abp, SOFR + 0.580% | 5.900(c) | 08/05/24 | 120,500 | 120,632,463 | |
State Street Bank & Trust Co., SOFR + 0.470% | 5.790(c) | 05/21/24 | 105,000 | 105,020,890 | |
Swedbank AB, SOFR + 0.240% | 5.560(c) | 11/20/24 | 100,000 | 99,991,784 | |
Wells Fargo Bank NA, | |||||
SOFR + 0.290% (Cap N/A, Floor 0.000%) | 5.610(c) | 02/14/25 | 73,000 | 73,012,880 | |
SOFR + 0.490% (Cap N/A, Floor 0.000%) | 5.810(c) | 08/05/24 | 61,000 | 61,062,218 | |
SOFR + 0.600% (Cap N/A, Floor 0.000%) | 5.920(c) | 08/02/24 | 7,000 | 7,009,070 | |
Westpac Banking Corp., SOFR + 0.550% (Cap N/A, Floor 0.000%) | 5.870(c) | 05/10/24 | 50,000 | 50,006,299 | |
Total Certificates of Deposit (cost $1,745,661,873) | 1,745,871,179 | ||||
Commercial Paper 40.7% | |||||
ANZ Group Holdings Ltd., | |||||
144A | 5.673(n) | 06/27/24 | 45,000 | 44,614,590 | |
144A | 5.708(n) | 07/01/24 | 40,000 | 39,634,292 | |
AstraZeneca PLC, | |||||
144A | 5.514(n) | 09/23/24 | 26,250 | 25,657,027 | |
144A | 5.526(n) | 10/07/24 | 26,250 | 25,600,556 | |
Banco Santander SA, 144A | 5.426(n) | 06/14/24 | 25,000 | 24,831,094 |
3
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Commercial Paper (Continued) | |||||
Bank of America Securities, Inc., | |||||
144A | 5.646 %(n) | 05/28/24 | 106,000 | $105,554,946 | |
144A, SOFR + 0.360% | 5.680(c) | 01/17/25 | 21,450 | 21,460,906 | |
144A, SOFR + 0.580% | 5.900(c) | 10/11/24 | 40,000 | 40,067,041 | |
Bank of Montreal, | |||||
144A, SOFR + 0.340% | 5.660(c) | 04/03/25 | 100,000 | 100,014,897 | |
144A, SOFR + 0.600% | 5.920(c) | 05/01/24 | 82,250 | 82,251,059 | |
Banner Health | 5.395(n) | 05/01/24 | 14,000 | 13,997,899 | |
Bosch Robert Finance LLC, 144A | 5.393(n) | 05/03/24 | 50,000 | 49,977,678 | |
BPCE SA, | |||||
144A, SOFR + 0.320% | 5.640(c) | 03/10/25 | 75,000 | 74,980,930 | |
144A, SOFR + 0.590% | 5.910(c) | 08/05/24 | 125,000 | 125,170,125 | |
CDP Financial, Inc., | |||||
144A | 5.199(n) | 02/03/25 | 39,000 | 37,402,276 | |
144A | 5.362(n) | 05/01/24 | 78,000 | 77,988,511 | |
144A | 5.374(n) | 09/11/24 | 40,000 | 39,200,467 | |
144A | 5.573(n) | 06/10/24 | 30,000 | 29,817,174 | |
144A | 5.574(n) | 06/11/24 | 30,500 | 30,309,558 | |
144A, SOFR + 0.350% | 5.670(c) | 01/06/25 | 116,500 | 116,586,910 | |
144A, SOFR + 0.400% | 5.720(c) | 12/12/24 | 29,000 | 29,029,249 | |
Cisco Systems, Inc., | |||||
144A | 5.313(n) | 07/29/24 | 34,000 | 33,546,950 | |
144A | 5.322(n) | 08/13/24 | 54,000 | 53,160,525 | |
Cornell University | 5.447(n) | 05/14/24 | 24,000 | 23,949,252 | |
DNB Bank ASA, 144A | 5.680(n) | 06/27/24 | 63,000 | 62,463,837 | |
Eli Lilly & Co., 144A | 5.355(n) | 05/10/24 | 195,000 | 194,712,775 | |
Federation Des Caisses Desjardins, | |||||
144A | 5.365(n) | 05/06/24 | 100,000 | 99,911,214 | |
144A | 5.393(n) | 05/13/24 | 71,000 | 70,863,210 | |
144A | 5.402(n) | 06/12/24 | 55,500 | 55,143,152 | |
144A | 5.403(n) | 05/08/24 | 65,000 | 64,922,998 | |
144A | 5.414(n) | 06/28/24 | 40,000 | 39,646,066 | |
144A | 5.422(n) | 07/02/24 | 114,000 | 112,923,498 | |
Goldman Sachs International, | |||||
144A | 5.446(n) | 06/04/24 | 135,000 | 134,294,532 | |
144A | 5.472(n) | 06/11/24 | 295,000 | 293,147,695 | |
ING (U.S.) Funding LLC, | |||||
144A | 5.402(n) | 09/10/24 | 15,135 | 14,832,982 | |
144A | 5.435(n) | 11/27/24 | 22,000 | 21,305,436 |
4
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Commercial Paper (Continued) | |||||
ING (U.S.) Funding LLC, (cont’d.) | |||||
144A | 5.731 %(n) | 05/07/24 | 125,500 | $125,369,933 | |
144A | 5.739(n) | 05/16/24 | 34,000 | 33,919,339 | |
144A | 5.748(n) | 06/07/24 | 61,500 | 61,149,969 | |
144A, SOFR + 0.550% | 5.870(c) | 05/07/24 | 112,000 | 112,009,785 | |
ING (U.S.) Funding LLC | 5.356(n) | 11/15/24 | 113,000 | 109,632,093 | |
John Deere Credit, Inc., 144A | 5.391(n) | 05/23/24 | 70,000 | 69,761,909 | |
Johnson & Johnson, 144A | 5.397(n) | 06/14/24 | 35,000 | 34,767,469 | |
JPMorgan Securities LLC, | |||||
144A, SOFR + 0.320% | 5.640(c) | 02/07/25 | 60,000 | 60,009,558 | |
144A, SOFR + 0.360% | 5.680(c) | 03/25/25 | 150,000 | 150,027,115 | |
144A, SOFR + 0.610% | 5.930(c) | 10/25/24 | 107,000 | 107,068,499 | |
144A, SOFR + 0.650% | 5.970(c) | 08/01/24 | 125,000 | 125,044,825 | |
Kenvue, Inc., 144A | 5.377(n) | 05/29/24 | 11,000 | 10,952,778 | |
Leland Stanford Junior University (The) | 5.441(n) | 06/20/24 | 10,125 | 10,047,415 | |
LVMH Moet Hennessy Louis Vuitton SE, | |||||
144A | 5.287(n) | 11/12/24 | 39,000 | 37,880,494 | |
144A | 5.380(n) | 11/18/24 | 35,000 | 33,965,855 | |
144A | 5.390(n) | 10/15/24 | 15,000 | 14,629,420 | |
144A | 5.391(n) | 11/19/24 | 40,000 | 38,812,518 | |
144A | 5.398(n) | 09/16/24 | 15,000 | 14,692,617 | |
144A | 5.411(n) | 12/02/24 | 30,000 | 29,054,964 | |
144A | 5.426(n) | 01/08/25 | 92,000 | 88,632,286 | |
144A | 5.471(n) | 09/20/24 | 6,000 | 5,873,572 | |
144A | 5.797(n) | 05/14/24 | 17,000 | 16,964,855 | |
144A | 5.822(n) | 06/14/24 | 13,000 | 12,913,144 | |
144A | 5.824(n) | 06/12/24 | 20,000 | 19,872,362 | |
144A | 5.845(n) | 07/08/24 | 11,000 | 10,887,120 | |
144A | 5.865(n) | 06/10/24 | 20,000 | 19,878,344 | |
144A | 5.870(n) | 06/14/24 | 9,000 | 8,939,869 | |
Mercedes-Benz Finance North America LLC, | |||||
144A | 5.353(n) | 05/17/24 | 50,000 | 49,873,893 | |
144A | 5.363(n) | 05/07/24 | 25,000 | 24,974,187 | |
Mitsubishi Corp., | |||||
144A | 5.356(n) | 07/01/24 | 14,500 | 14,365,649 | |
144A | 5.372(n) | 08/01/24 | 37,000 | 36,485,762 | |
144A | 5.392(n) | 05/06/24 | 34,000 | 33,969,813 | |
144A | 5.395(n) | 07/19/24 | 50,000 | 49,402,222 | |
144A | 5.401(n) | 06/10/24 | 30,000 | 29,816,833 |
5
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Commercial Paper (Continued) | |||||
Mitsubishi Corp., (cont’d.) | |||||
144A | 5.405 %(n) | 07/10/24 | 31,750 | $31,413,115 | |
144A | 5.414(n) | 08/02/24 | 31,750 | 31,303,983 | |
144A | 5.497(n) | 10/21/24 | 15,000 | 14,610,530 | |
144A | 5.538(n) | 10/25/24 | 50,000 | 48,672,252 | |
National Australia Bank Ltd., 144A, SOFR + 0.440% | 5.760(c) | 11/01/24 | 60,000 | 60,068,702 | |
National Securities Clearing Corp., | |||||
144A | 5.423(n) | 06/18/24 | 16,000 | 15,883,293 | |
144A | 5.701(n) | 05/10/24 | 42,000 | 41,937,903 | |
144A | 5.704(n) | 05/14/24 | 35,000 | 34,927,506 | |
Nestle Finance International Ltd., 144A | 5.383(n) | 09/30/24 | 25,000 | 24,442,400 | |
New York Life Short Term Funding, 144A | 5.389(n) | 05/28/24 | 20,000 | 19,916,805 | |
Nordea Bank Abp, 144A | 5.653(n) | 05/28/24 | 40,000 | 39,834,928 | |
Ohiohealth Corp. | 5.450 | 06/10/24 | 30,000 | 29,994,414 | |
Ohiohealth Corp. | 5.470 | 06/04/24 | 84,550 | 84,527,890 | |
Ohiohealth Corp. | 5.470 | 07/10/24 | 30,000 | 29,993,232 | |
OMERS Finance Trust, 144A | 5.403(n) | 06/17/24 | 25,000 | 24,821,600 | |
Ontario Teachers’ Finance Trust, | |||||
144A | 0.000 | 01/06/25 | 40,000 | 38,534,560 | |
144A | 5.701(n) | 05/07/24 | 17,000 | 16,982,415 | |
144A | 5.803(n) | 06/03/24 | 45,000 | 44,772,880 | |
144A | 5.852(n) | 06/11/24 | 37,000 | 36,768,972 | |
144A | 5.871(n) | 07/03/24 | 47,500 | 47,050,643 | |
Province of British Columbia | 5.309(n) | 07/10/24 | 10,000 | 9,894,236 | |
Province of Canada, | |||||
144A | 5.366(n) | 06/07/24 | 150,000 | 149,156,400 | |
144A | 5.382(n) | 08/02/24 | 50,000 | 49,304,487 | |
144A | 5.387(n) | 07/02/24 | 83,000 | 82,223,203 | |
144A | 5.392(n) | 06/18/24 | 64,000 | 63,534,914 | |
Robert Bosch Finance LLC, | |||||
144A | 5.393(n) | 05/08/24 | 117,700 | 117,559,194 | |
144A | 5.401(n) | 05/10/24 | 86,000 | 85,871,236 | |
Royal Bank of Canada, 144A, USOIS + 0.630% | 5.960(c) | 07/11/24 | 100,000 | 100,092,549 | |
Sanofi, | |||||
144A | 5.383(n) | 06/10/24 | 100,000 | 99,391,719 |
6
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Commercial Paper (Continued) | |||||
Sanofi, (cont’d.) | |||||
144A | 5.389 %(n) | 06/07/24 | 46,500 | $46,237,993 | |
144A | 5.391(n) | 06/21/24 | 100,000 | 99,228,281 | |
144A | 5.407(n) | 07/10/24 | 100,000 | 98,945,387 | |
144A | 5.422(n) | 07/17/24 | 138,700 | 137,091,635 | |
Skandinaviska Enskilda Banken AB, | |||||
144A, SOFR + 0.310% | 5.630(c) | 03/17/25 | 36,000 | 35,999,114 | |
144A, SOFR + 0.630% | 5.950(c) | 07/19/24 | 100,000 | 100,116,130 | |
144A, SOFR + 0.650% | 5.970(c) | 05/31/24 | 110,000 | 110,052,735 | |
ST Engineering North America, Inc., | |||||
144A | 5.372(n) | 05/13/24 | 45,000 | 44,913,790 | |
144A | 5.382(n) | 05/06/24 | 30,000 | 29,973,507 | |
144A | 5.423(n) | 06/12/24 | 120,000 | 119,229,392 | |
STE Transcore Holdings, Inc., 144A | 5.372(n) | 05/13/24 | 85,000 | 84,835,010 | |
Svenska Handelsbanken, | |||||
144A | 5.332(n) | 03/13/25 | 70,000 | 66,748,014 | |
144A | 5.417(n) | 01/06/25 | 12,000 | 11,557,211 | |
144A | 5.427(n) | 11/01/24 | 63,000 | 61,271,930 | |
Swedbank AB, | |||||
144A | 5.435(n) | 10/01/24 | 44,500 | 43,482,203 | |
144A, SOFR + 0.350% | 5.670(c) | 04/04/25 | 125,000 | 125,015,750 | |
Toronto-Dominion Bank (The) | 5.442(n) | 07/10/24 | 88,000 | 87,072,577 | |
Toronto-Dominion Bank (The), 144A | 5.418(n) | 04/04/25 | 100,000 | 95,030,395 | |
Toyota Industries Commercial Finance, Inc., | |||||
144A | 5.588(n) | 06/03/24 | 25,650 | 25,521,333 | |
144A | 5.767(n) | 06/13/24 | 15,000 | 14,902,565 | |
Toyota Motor Finance (Netherlands) BV | 5.731(n) | 05/22/24 | 16,000 | 15,947,954 | |
University Of Chicago | 5.386(n) | 05/01/24 | 28,000 | 27,995,738 | |
University Of Chicago | 5.416(n) | 05/09/24 | 50,000 | 49,931,195 | |
University Of Texas | 5.380 | 05/02/24 | 15,000 | 14,999,858 | |
University Of Texas | 5.400 | 05/20/24 | 14,000 | 13,997,543 | |
University Of Texas | 5.400 | 05/23/24 | 10,000 | 9,998,015 | |
Volvo Group Treas North America, Inc., | |||||
144A | 5.389(n) | 05/21/24 | 60,000 | 59,806,975 | |
144A | 5.423(n) | 06/18/24 | 55,000 | 54,582,075 | |
144A | 5.475(n) | 07/16/24 | 64,500 | 63,727,249 | |
144A | 5.518(n) | 10/22/24 | 39,000 | 37,932,330 | |
Walmart, Inc., | |||||
144A | 5.370(n) | 05/20/24 | 35,000 | 34,896,727 | |
144A | 5.381(n) | 06/03/24 | 100,000 | 99,497,178 |
7
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Commercial Paper (Continued) | |||||
Yale University | 5.407 %(n) | 05/07/24 | 20,000 | $19,979,311 | |
Yale University | 5.415(n) | 06/18/24 | 11,000 | 10,919,764 | |
Yale University | 5.427(n) | 06/20/24 | 22,000 | 21,832,915 | |
Total Commercial Paper (cost $7,458,211,620) | 7,457,373,513 | ||||
Corporate Bonds 1.1% | |||||
Auto Manufacturers 0.0% | |||||
Toyota Motor Credit Corp., Sr. Unsec’d. Notes, Series B, MTN, SOFR + 0.290% (Cap N/A, Floor 0.000%) | 5.643%(c) | 09/13/24 | 3,000 | 3,000,042 | |
Banks 0.5% | |||||
Banco Santander SA, | |||||
Sr. Preferred Notes | 2.706 | 06/27/24 | 3,970 | 3,952,083 | |
Sr. Preferred Notes, 1 Year US Treasury Yield Curve Rate CMT + 0.450% | 5.742(ff) | 06/30/24 | 22,600 | 22,595,932 | |
Bank of New York Mellon Corp. (The), Sr. Unsec’d. Notes, Series J, MTN, SOFR + 0.200% (Cap N/A, Floor 0.000%) | 5.555(c) | 10/25/24 | 40,000 | 39,985,292 | |
Nordea Bank Abp (Finland), Sr. Preferred Notes, 144A | 0.625 | 05/24/24 | 10,000 | 9,969,632 | |
Royal Bank of Canada (Canada), Sr. Unsec’d. Notes, GMTN | 3.970 | 07/26/24 | 6,000 | 5,978,228 | |
82,481,167 | |||||
Insurance 0.4% | |||||
New York Life Global Funding, Sr. Sec’d. Notes, 144A, MTN, SOFR Index + 0.330% | 5.683%(c) | 01/14/25 | 75,000 | 74,991,566 | |
Machinery-Diversified 0.2% | |||||
John Deere Capital Corp., Sr. Unsec’d. Notes, MTN, SOFR + 0.200% | 5.553%(c) | 10/11/24 | 30,000 | 29,997,374 | |
Total Corporate Bonds (cost $190,542,905) | 190,470,149 |
8
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Principal Amount (000)# | Value | |||
Repurchase Agreements 25.4% | |||||
Banco Bilbao Vizcaya Argentaria, | |||||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $285,042,117 collateralized by U.S. Treasury Securities (coupon rates 2.375%-4.875%, maturity dates 04/30/26-10/15/28) with the aggregate value, including accrued interest, of $290,742,968. | 285,000 | $285,000,000 | |||
Banco Santander SA, | |||||
5.31%, dated 04/30/24, due 05/01/24 in the amount of $607,162,543 collateralized by FHLMC (coupon rates 1.500%-7.000%, maturity dates 12/01/35-05/01/54), FNMA (coupon rates 2.000%-7.000%, maturity dates 12/01/25-01/01/59) and U.S. Treasury Securities (coupon rate 0.625%, maturity date 11/30/27) with the aggregate value, including accrued interest, of $619,305,850. | 607,073 | 607,073,000 | |||
Bank of Nova Scotia, | |||||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $180,026,600 collateralized by FHLMC (coupon rates 2.000%-6.500%, maturity dates 02/01/28-02/01/54), FNMA (coupon rates 2.500%-6.000%, maturity dates 01/01/37-07/01/53), GNMA (coupon rates 2.000%-6.500%, maturity dates 05/20/27-11/20/53) and U.S. Treasury Securities (coupon rates 0.625%-4.875%, maturity dates 05/31/25-10/31/28) with the aggregate value, including accrued interest, of $183,627,167. | 180,000 | 180,000,000 | |||
Canadian Imperial Bank of Commerce, | |||||
5.32%, dated 04/24/24, due 05/08/24 in the amount of $344,711,698 collateralized by U.S. Treasury Securities (coupon rates 0.125%-4.750%, maturity dates 07/31/24-11/15/53) with the aggregate value, including accrued interest, of $351,243,009. | 344,000 | 344,000,000 |
9
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Principal Amount (000)# | Value | |||
Repurchase Agreements (Continued) | |||||
Cantor Fitzgerald, | |||||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $150,022,167 collateralized by FHLMC (coupon rates 0.000%-6.000%, maturity dates 09/15/26-04/01/54), FNMA (coupon rates 0.600%-6.000%, maturity dates 08/25/26-05/01/54), GNMA (coupon rates 2.400%-6.980%, maturity dates 03/20/35-02/20/74) and U.S. Treasury Securities (coupon rates 0.000%-4.000%, maturity dates 07/02/24-02/15/34) with the aggregate value, including accrued interest, of $153,022,683. | 150,000 | $150,000,000 | |||
CF Secured, LLC, | |||||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $350,051,722 collateralized by FHLMC (coupon rates 0.000%-6.500%, maturity dates 03/15/31-03/01/54), FNMA (coupon rates 0.000%-6.000%, maturity dates 01/15/30-04/01/54) and GNMA (coupon rates 2.500%-6.752%, maturity dates 12/20/33-07/20/73) with the aggregate value, including accrued interest, of $357,052,757. | 350,000 | 350,000,000 | |||
Deutsche Bank AG, | |||||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $178,800,419 collateralized by FHLMC (coupon rates 0.000%-6.500%, maturity dates 01/28/25-04/01/54) and FNMA (coupon rates 0.375%-6.250%, maturity dates 09/06/24-05/15/29) with the aggregate value, including accrued interest, of $182,349,967. | 178,774 | 178,774,000 | |||
ING Financial Markets LLC, | |||||
5.35%, dated 03/21/24, due 05/02/24 in the amount of $296,841,292 collateralized by FHLMC (coupon rates 2.000%-6.500%, maturity dates 07/01/41-04/01/54), FNMA (coupon rates 1.500%-6.500%, maturity dates 06/01/33-05/01/58) and GNMA (coupon rates 3.500%-4.500%, maturity dates 12/20/51-07/20/52) with the aggregate value, including accrued interest, of $300,900,000. | 295,000 | 295,000,000 |
10
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Principal Amount (000)# | Value | |||
Repurchase Agreements (Continued) | |||||
ING Financial Markets LLC, (cont’d.) | |||||
5.35%, dated 03/22/24, due 05/03/24 in the amount of $384,384,317 collateralized by FHLMC (coupon rates 2.000%-6.500%, maturity dates 01/01/42-04/01/54), FNMA (coupon rates 1.500%-7.000%, maturity dates 12/01/30-03/01/54) and GNMA (coupon rate 4.500%, maturity date 07/20/52) with the aggregate value, including accrued interest, of $389,640,001. | 382,000 | $382,000,000 | |||
5.33%, dated 04/25/24, due 05/02/24 in the amount of $70,072,547 collateralized by FHLMC (coupon rate 2.000%, maturity date 12/01/50) and FNMA (coupon rates 2.000%-6.500%, maturity dates 07/01/33-07/01/56) with the aggregate value, including accrued interest, of $71,400,000. | 70,000 | 70,000,000 | |||
Mizuho Securities USA LLC, | |||||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $200,029,556 collateralized by U.S. Treasury Securities (coupon rate 4.625%, maturity date 04/30/29) with the aggregate value, including accrued interest, of $204,000,042. | 200,000 | 200,000,000 | |||
Natixis, | |||||
5.33%, dated 03/21/24, due 05/02/24 in the amount of $219,355,597 collateralized by FHLMC (coupon rates 2.500%-6.000%, maturity dates 01/02/50-11/01/53), FNMA (coupon rates 2.500%-6.000%, maturity dates 05/01/44-05/01/54), GNMA (coupon rates 4.000%-6.000%, maturity dates 11/20/48-01/20/53) and U.S. Treasury Securities (coupon rates 0.500%-2.750%, maturity dates 11/15/24-11/15/51) with the aggregate value, including accrued interest, of $222,360,001. | 218,000 | 218,000,000 | |||
NatWest Markets Securities, Inc., | |||||
5.33%, dated 04/24/24, due 05/01/24 in the amount of $150,155,458 collateralized by FFCSB (coupon rates 1.000%-5.500%, maturity dates 11/25/24-10/15/49) and FNMA (coupon rate 5.000%, maturity date 07/01/52) with the aggregate value, including accrued interest, of $153,158,568. | 150,000 | 150,000,000 |
11
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Principal Amount (000)# | Value | |||
Repurchase Agreements (Continued) | |||||
NatWest Markets Securities, Inc., (cont’d.) | |||||
5.33%, dated 04/30/24, due 05/07/24 in the amount of $175,181,368 collateralized by FNMA (coupon rates 4.500%-5.000%, maturity dates 06/01/49-07/01/52) with the aggregate value, including accrued interest, of $178,684,996. | 175,000 | $175,000,000 | |||
Nomura International PLC, | |||||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $500,073,889 collateralized by FHLMC (coupon rates 1.500%-6.500%, maturity dates 10/01/29-04/01/54), FNMA (coupon rates 1.500%-6.500%, maturity dates 07/01/26-04/01/54) and GNMA (coupon rates 2.000%-5.500%, maturity dates 09/20/46-03/20/54) with the aggregate value, including accrued interest, of $510,075,651. | 500,000 | 500,000,000 | |||
Santander Bank, N.A., | |||||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $175,025,861 collateralized by FHLMC (coupon rates 2.000%-6.000%, maturity dates 01/01/26-07/01/53), GNMA (coupon rates 2.000%-6.000%, maturity dates 01/20/34-07/15/41) and U.S. Treasury Securities (coupon rates 0.125%-4.750%, maturity dates 05/15/24-07/15/29) with the aggregate value, including accrued interest, of $178,526,379. | 175,000 | 175,000,000 | |||
Wells Fargo Securities LLC, | |||||
5.33%, dated 04/25/24, due 05/02/24 in the amount of $100,103,639 collateralized by FNMA (coupon rates 3.000%-6.500%, maturity dates 11/01/25-02/01/54) with the aggregate value, including accrued interest, of $102,105,712. | 100,000 | 100,000,000 | |||
5.32%, dated 04/30/24, due 05/01/24 in the amount of $300,044,333 collateralized by FHLMC (coupon rates 1.500%-7.000%, maturity dates 07/01/25-05/01/54) with the aggregate value, including accrued interest, of $306,045,220. | 300,000 | 300,000,000 | |||
Total Repurchase Agreements (cost $4,659,847,000) | 4,659,847,000 |
12
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
U.S. Government Agency Obligation 0.2% | |||||
Federal Home Loan Bank, SOFR + 0.025% (Cap N/A, Floor 0.000%) (cost $43,000,000) | 5.345 %(c) | 10/11/24 | 43,000 | $42,999,506 | |
U.S. Treasury Obligations(n) 8.0% | |||||
U.S. Treasury Bills | 5.173 | 08/08/24 | 132,000 | 130,099,695 | |
U.S. Treasury Bills | 5.272 | 06/04/24 | 130,250 | 129,600,794 | |
U.S. Treasury Bills | 5.299 | 06/11/24 | 262,000 | 260,428,982 | |
U.S. Treasury Bills | 5.302 | 05/09/24 | 97,000 | 96,886,154 | |
U.S. Treasury Bills | 5.321 | 08/01/24 | 128,000 | 126,284,457 | |
U.S. Treasury Bills | 5.326 | 07/25/24 | 85,000 | 83,946,856 | |
U.S. Treasury Bills | 5.327 | 08/20/24 | 321,000 | 315,801,504 | |
U.S. Treasury Bills | 5.335 | 08/27/24 | 328,500 | 322,852,448 | |
Total U.S. Treasury Obligations (cost $1,466,035,993) | 1,465,900,890 | ||||
Total Short-Term Investments (cost $15,563,299,391) | 15,562,462,237 | ||||
TOTAL INVESTMENTS 100.4% (cost $18,402,699,391) | 18,403,621,185 | ||||
Liabilities in excess of other assets (0.4)% | (81,662,267) | ||||
Net Assets 100.0% | $18,321,958,918 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
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. |
CMT | Constant Maturity Treasury |
FFCSB | Federal Farm Credit System Bank |
FHLMC | Federal Home Loan Mortgage Corporation |
FNMA | Federal National Mortgage Association |
GMTN | Global Medium Term Note |
GNMA | Government National Mortgage Association |
MTN | Medium Term Note |
SOFR | Secured Overnight Financing Rate |
USOIS | United States Overnight Index Swap |
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at April 30, 2024. |
13
PGIM Core Ultra Short Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2024
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of April 30, 2024. 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. |
(n) | Rate shown reflects yield to maturity at purchased date. |
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).
14