PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 124.2% | |||||
Bank Loans 14.6% | |||||
Airlines 0.7% | |||||
United Airlines, Inc., Class B Term Loan, 3 Month LIBOR + 3.750% | 4.500 %(c) | 04/21/28 | 3,542 | $3,587,742 | |
Chemicals 2.3% | |||||
Alpha BV (United Kingdom), Initial Dollar Term Loan, 3 Month LIBOR + 2.500% | 3.000(c) | 03/18/28 | 2,369 | 2,364,917 | |
Diamond BC BV, Term Loan B, 3 Month LIBOR + 3.000% | 3.500(c) | 09/29/28 | 1,400 | 1,396,500 | |
LSF11 A5 HoldCo LLC, Term Loans, 6 Month LIBOR + 3.750% | 3.874(c) | 10/15/28 | 1,315 | 1,313,597 | |
Solenis International LP, First Lien Initial Dollar Term Loan, 1 Month LIBOR + 4.000% | 4.087(c) | 06/26/25 | 5,916 | 5,910,870 | |
10,985,884 | |||||
Commercial Services 0.4% | |||||
Cimpress PLC, Tranche B-1 Term Loan, 1 Month LIBOR + 3.500% | 4.000(c) | 05/17/28 | 998 | 997,916 | |
Verscend Holding Corp., New Term Loan B, 1 Month LIBOR + 4.000% | 4.084(c) | 08/27/25 | 998 | 998,747 | |
1,996,663 | |||||
Computers 0.9% | |||||
McAfee LLC, Term B Loan, 1 Month LIBOR + 3.750% | 3.837(c) | 09/30/24 | 4,608 | 4,610,558 | |
Electric 0.9% | |||||
Heritage Power LLC, Term Loan B, 3 Month LIBOR + 6.000% | 7.000(c) | 07/30/26 | 2,628 | 2,308,134 | |
PG&E Corp., Term Loan B, 3 Month LIBOR + 3.000% | 3.500(c) | 06/23/25 | 1,980 | 1,957,676 | |
4,265,810 | |||||
Entertainment 0.5% | |||||
Golden Entertainment, Inc., Term B Facility Loan (First Lien), 1 Month LIBOR + 3.000% | 3.750(c) | 10/21/24 | 2,623 | 2,616,499 |
1
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans (Continued) | |||||
Healthcare-Services 0.2% | |||||
ATI Holdings Acquisition, Inc., Term Loan | — %(p) | 05/10/23 | 1,289 | $1,212,405 | |
Insurance 0.7% | |||||
Asurion LLC, | |||||
New B-9 Term Loan, 1 Month LIBOR + 3.250% | 3.337(c) | 07/31/27 | 1,020 | 1,009,676 | |
Replacement B-6 Term Loan, 1 Month LIBOR + 3.125% | 3.212(c) | 11/03/23 | 2,575 | 2,566,907 | |
3,576,583 | |||||
Packaging & Containers 0.7% | |||||
Trident TPI Holdings, Inc., | |||||
First Lien Tranche B-3 Delayed Draw Term Loan, 3 Month LIBOR + 4.000% | 4.500(c) | 09/15/28 | 23 | 22,560 | |
First Lien Tranche B-3 Initial Term Loan, 3 Month LIBOR + 4.000% | 4.500(c) | 09/15/28 | 394 | 394,663 | |
Tranche B-1 Term Loan, 3 Month LIBOR + 3.000% | 4.000(c) | 10/17/24 | 2,898 | 2,892,548 | |
3,309,771 | |||||
Pharmaceuticals 0.5% | |||||
Change Healthcare Holdings LLC, Closing Date Term Loan, 1 Month LIBOR + 2.500% | 3.500(c) | 03/01/24 | 2,583 | 2,579,491 | |
Retail 0.4% | |||||
LBM Acquisition LLC, Term Loan | —(p) | 12/18/27 | 1,247 | 1,230,666 | |
White Cap Buyer LLC, Initial Closing Date Term Loan, 1 Month LIBOR + 4.000% | 4.500(c) | 10/19/27 | 499 | 499,644 | |
1,730,310 | |||||
Software 4.6% | |||||
Boxer Parent Co., Inc., | |||||
2021 Replacement Dollar Term Loan, 3 Month LIBOR + 3.750% | 3.882(c) | 10/02/25 | 4,409 | 4,378,297 | |
Term Loan | —(p) | 03/31/26 | 150 | 151,875 | |
2
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans (Continued) | |||||
Software (cont’d.) | |||||
Dun & Bradstreet Corp., Term Loan B, 1 Month LIBOR + 3.250% | 3.338 %(c) | 02/06/26 | 5,941 | $5,918,736 | |
Finastra USA, Inc., First Lien Dollar Term Loan, 6 Month LIBOR + 3.500% | 4.500(c) | 06/13/24 | 3,566 | 3,544,837 | |
Greeneden U.S. Holdings II LLC, B-4 Dollar Term Loan, 1 Month LIBOR + 4.000% | 4.750(c) | 12/01/27 | 597 | 598,306 | |
Rackspace Technology Global, Inc., Term B Loan, 3 Month LIBOR + 2.750% | 3.500(c) | 02/15/28 | 1,667 | 1,654,542 | |
Skillsoft Finance II, Inc., Initial Term Loan, 1 Month LIBOR + 4.750% | 5.500(c) | 07/14/28 | 1,050 | 1,055,250 | |
TIBCO Software, Inc., | |||||
Second Lien Term Loan, 1 Month LIBOR + 7.250% | 7.340(c) | 03/03/28 | 1,620 | 1,623,545 | |
Term Loan B-3, 1 Month LIBOR + 3.750% | 3.840(c) | 06/30/26 | 3,275 | 3,207,986 | |
22,133,374 | |||||
Telecommunications 1.8% | |||||
Crown Subsea Communications Holding, Inc., Initial Term Loan, 1 Month LIBOR + 5.000% | 5.750(c) | 04/27/27 | 455 | 458,876 | |
West Corp., Initial Term B Loan, 3 Month LIBOR + 4.000% | 5.000(c) | 10/10/24 | 5,710 | 5,608,079 | |
Xplornet Communications, Inc. (Canada), Term Loan | —(p) | 10/02/28 | 2,560 | 2,555,200 | |
8,622,155 | |||||
Total Bank Loans (cost $71,294,037) | 71,227,245 | ||||
Corporate Bonds 109.6% | |||||
Aerospace & Defense 2.0% | |||||
Bombardier, Inc. (Canada), | |||||
Sr. Unsec’d. Notes, 144A | 6.000 | 02/15/28 | 1,425 | 1,437,357 | |
Sr. Unsec’d. Notes, 144A | 7.125 | 06/15/26 | 750 | 787,274 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 12/01/24 | 2,477 | 2,578,467 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 03/15/25 | 280 | 287,266 | |
Sr. Unsec’d. Notes, 144A | 7.875 | 04/15/27 | 375 | 389,988 | |
Spirit AeroSystems, Inc., Sec’d. Notes, 144A | 7.500 | 04/15/25 | 875 | 923,876 |
3
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Aerospace & Defense (cont’d.) | |||||
SSL Robotics LLC, Sr. Sec’d. Notes, 144A | 9.750 % | 12/31/23 | 1,146 | $1,238,709 | |
TransDigm UK Holdings PLC, Gtd. Notes | 6.875 | 05/15/26 | 650 | 685,471 | |
TransDigm, Inc., Gtd. Notes | 5.500 | 11/15/27 | 1,525 | 1,563,585 | |
9,891,993 | |||||
Airlines 1.4% | |||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd., Sr. Sec’d. Notes, 144A(aa) | 5.500 | 04/20/26 | 4,700 | 4,928,723 | |
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., Sr. Sec’d. Notes, 144A | 5.750 | 01/20/26 | 500 | 525,000 | |
United Airlines, Inc., Sr. Sec’d. Notes, 144A | 4.375 | 04/15/26 | 1,480 | 1,532,428 | |
6,986,151 | |||||
Apparel 0.8% | |||||
Hanesbrands, Inc., Gtd. Notes, 144A | 4.625 | 05/15/24 | 1,525 | 1,594,405 | |
William Carter Co. (The), | |||||
Gtd. Notes, 144A | 5.500 | 05/15/25 | 620 | 648,753 | |
Gtd. Notes, 144A | 5.625 | 03/15/27 | 1,797 | 1,864,371 | |
4,107,529 | |||||
Auto Manufacturers 2.9% | |||||
Allison Transmission, Inc., Sr. Unsec’d. Notes, 144A | 4.750 | 10/01/27 | 1,075 | 1,118,761 | |
Ford Motor Co., | |||||
Sr. Unsec’d. Notes | 7.500 | 08/01/26 | 100 | 118,772 | |
Sr. Unsec’d. Notes(aa) | 8.500 | 04/21/23 | 3,575 | 3,917,478 | |
Sr. Unsec’d. Notes(aa) | 9.000 | 04/22/25 | 6,675 | 8,027,435 | |
4
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Auto Manufacturers (cont’d.) | |||||
Jaguar Land Rover Automotive PLC (United Kingdom), Sr. Unsec’d. Notes, 144A | 7.750 % | 10/15/25 | 650 | $701,774 | |
PM General Purchaser LLC, Sr. Sec’d. Notes, 144A | 9.500 | 10/01/28 | 175 | 182,491 | |
14,066,711 | |||||
Auto Parts & Equipment 1.1% | |||||
Adient Global Holdings Ltd., Gtd. Notes, 144A | 4.875 | 08/15/26 | 1,800 | 1,833,981 | |
American Axle & Manufacturing, Inc., | |||||
Gtd. Notes | 6.250 | 03/15/26 | 200 | 205,505 | |
Gtd. Notes | 6.500 | 04/01/27 | 700 | 730,963 | |
Dana, Inc., Sr. Unsec’d. Notes | 5.375 | 11/15/27 | 2,000 | 2,096,905 | |
Titan International, Inc., Sr. Sec’d. Notes, 144A | 7.000 | 04/30/28 | 375 | 385,687 | |
5,253,041 | |||||
Banks 0.2% | |||||
Popular, Inc. (Puerto Rico), Sr. Unsec’d. Notes | 6.125 | 09/14/23 | 1,000 | 1,067,641 | |
Building Materials 1.0% | |||||
JELD-WEN, Inc., Gtd. Notes, 144A | 4.875 | 12/15/27 | 400 | 414,773 | |
Standard Industries, Inc., | �� | ||||
Sr. Unsec’d. Notes, 144A | 4.750 | 01/15/28 | 1,875 | 1,935,599 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/15/27 | 1,925 | 1,975,900 | |
Summit Materials LLC/Summit Materials Finance Corp., Gtd. Notes, 144A | 6.500 | 03/15/27 | 550 | 577,076 | |
4,903,348 | |||||
Chemicals 3.6% | |||||
Cornerstone Chemical Co., Sr. Sec’d. Notes, 144A | 6.750 | 08/15/24 | 395 | 355,306 | |
Kraton Polymers LLC/Kraton Polymers Capital Corp., Gtd. Notes, 144A(aa) | 4.250 | 12/15/25 | 4,000 | 4,132,985 |
5
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Chemicals (cont’d.) | |||||
Olympus Water US Holding Corp., Sr. Sec’d. Notes, 144A | 4.250 % | 10/01/28 | 550 | $541,366 | |
Rain CII Carbon LLC/CII Carbon Corp., Sec’d. Notes, 144A | 7.250 | 04/01/25 | 1,602 | 1,635,405 | |
SPCM SA (France), Sr. Unsec’d. Notes, 144A | 3.125 | 03/15/27 | 2,025 | 2,018,659 | |
TPC Group, Inc., | |||||
Sr. Sec’d. Notes, 144A | 10.500 | 08/01/24 | 149 | 135,008 | |
Sr. Sec’d. Notes, 144A | 10.875 | 08/01/24 | 287 | 305,906 | |
Tronox, Inc., Sr. Sec’d. Notes, 144A | 6.500 | 05/01/25 | 3,213 | 3,374,666 | |
Venator Finance Sarl/Venator Materials LLC, | |||||
Gtd. Notes, 144A | 5.750 | 07/15/25 | 411 | 384,100 | |
Sr. Sec’d. Notes, 144A | 9.500 | 07/01/25 | 3,175 | 3,486,218 | |
WR Grace Holdings LLC, Sr. Sec’d. Notes, 144A | 4.875 | 06/15/27 | 1,050 | 1,066,568 | |
17,436,187 | |||||
Commercial Services 6.3% | |||||
Adtalem Global Education, Inc., Sr. Sec’d. Notes, 144A | 5.500 | 03/01/28 | 700 | 708,021 | |
Allied Universal Holdco LLC/Allied Universal Finance Corp., | |||||
Sr. Sec’d. Notes, 144A(aa) | 6.625 | 07/15/26 | 4,800 | 5,048,146 | |
Sr. Unsec’d. Notes, 144A | 9.750 | 07/15/27 | 597 | 644,316 | |
Alta Equipment Group, Inc., Sec’d. Notes, 144A | 5.625 | 04/15/26 | 1,925 | 1,975,059 | |
AMN Healthcare, Inc., Gtd. Notes, 144A | 4.625 | 10/01/27 | 1,450 | 1,489,304 | |
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., | |||||
Gtd. Notes, 144A | 5.750 | 07/15/27 | 825 | 862,441 | |
Gtd. Notes, 144A | 5.750 | 07/15/27 | 1,625 | 1,693,679 | |
Brink’s Co. (The), Gtd. Notes, 144A | 5.500 | 07/15/25 | 825 | 865,576 | |
CoreLogic, Inc., Sr. Sec’d. Notes, 144A | 4.500 | 05/01/28 | 325 | 321,084 | |
Herc Holdings, Inc., Gtd. Notes, 144A | 5.500 | 07/15/27 | 2,576 | 2,688,216 |
6
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Commercial Services (cont’d.) | |||||
MPH Acquisition Holdings LLC, Sr. Sec’d. Notes, 144A | 5.500 % | 09/01/28 | 475 | $472,027 | |
Nielsen Co. Luxembourg Sarl (The), Gtd. Notes, 144A(aa) | 5.000 | 02/01/25 | 5,380 | 5,482,000 | |
United Rentals North America, Inc., Gtd. Notes | 5.500 | 05/15/27 | 1,719 | 1,801,440 | |
Verscend Escrow Corp., Sr. Unsec’d. Notes, 144A | 9.750 | 08/15/26 | 6,250 | 6,622,122 | |
30,673,431 | |||||
Computers 0.4% | |||||
CA Magnum Holdings (India), Sr. Sec’d. Notes, 144A | 5.375 | 10/31/26 | 250 | 257,521 | |
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., Sr. Sec’d. Notes, 144A | 5.750 | 06/01/25 | 1,500 | 1,570,326 | |
1,827,847 | |||||
Distribution/Wholesale 1.4% | |||||
Avient Corp., Sr. Unsec’d. Notes, 144A(aa) | 5.750 | 05/15/25 | 4,554 | 4,774,838 | |
H&E Equipment Services, Inc., Gtd. Notes, 144A | 3.875 | 12/15/28 | 1,950 | 1,942,681 | |
6,717,519 | |||||
Diversified Financial Services 4.3% | |||||
Alliance Data Systems Corp., Gtd. Notes, 144A | 4.750 | 12/15/24 | 2,675 | 2,737,498 | |
goeasy Ltd. (Canada), | |||||
Gtd. Notes, 144A | 4.375 | 05/01/26 | 450 | 462,776 | |
Gtd. Notes, 144A(aa) | 5.375 | 12/01/24 | 4,241 | 4,361,131 | |
Home Point Capital, Inc., Gtd. Notes, 144A | 5.000 | 02/01/26 | 1,100 | 988,595 | |
LD Holdings Group LLC, | |||||
Gtd. Notes, 144A | 6.125 | 04/01/28 | 1,075 | 985,074 | |
Gtd. Notes, 144A | 6.500 | 11/01/25 | 850 | 833,234 | |
7
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Diversified Financial Services (cont’d.) | |||||
LFS Topco LLC, Gtd. Notes, 144A | 5.875 % | 10/15/26 | 250 | $257,777 | |
Nationstar Mortgage Holdings, Inc., | |||||
Gtd. Notes, 144A | 5.500 | 08/15/28 | 800 | 819,531 | |
Gtd. Notes, 144A | 6.000 | 01/15/27 | 1,075 | 1,125,211 | |
OneMain Finance Corp., | |||||
Gtd. Notes | 3.875 | 09/15/28 | 350 | 341,484 | |
Gtd. Notes | 6.125 | 03/15/24 | 500 | 531,796 | |
Gtd. Notes | 6.875 | 03/15/25 | 2,025 | 2,264,085 | |
Gtd. Notes(aa) | 7.125 | 03/15/26 | 4,150 | 4,713,077 | |
Gtd. Notes | 8.875 | 06/01/25 | 400 | 432,628 | |
20,853,897 | |||||
Electric 2.2% | |||||
Calpine Corp., | |||||
Sr. Sec’d. Notes, 144A(aa) | 5.250 | 06/01/26 | 3,472 | 3,571,577 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 02/01/29 | 325 | 315,997 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 03/15/28 | 1,000 | 997,507 | |
NRG Energy, Inc., | |||||
Gtd. Notes | 5.750 | 01/15/28 | 250 | 265,121 | |
Gtd. Notes | 6.625 | 01/15/27 | 207 | 215,143 | |
Vistra Operations Co. LLC, | |||||
Gtd. Notes, 144A(aa) | 5.000 | 07/31/27 | 3,750 | 3,839,639 | |
Gtd. Notes, 144A | 5.500 | 09/01/26 | 1,500 | 1,544,179 | |
10,749,163 | |||||
Electrical Components & Equipment 0.6% | |||||
WESCO Distribution, Inc., | |||||
Gtd. Notes, 144A | 7.125 | 06/15/25 | 1,450 | 1,542,584 | |
Gtd. Notes, 144A | 7.250 | 06/15/28 | 1,200 | 1,324,826 | |
2,867,410 | |||||
Electronics 0.4% | |||||
Brightstar Escrow Corp., Sr. Sec’d. Notes, 144A | 9.750 | 10/15/25 | 1,825 | 1,957,057 |
8
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Energy-Alternate Sources 0.1% | |||||
Enviva Partners LP/Enviva Partners Finance Corp., Gtd. Notes, 144A | 6.500 % | 01/15/26 | 700 | $723,875 | |
Engineering & Construction 0.1% | |||||
AECOM, Gtd. Notes | 5.125 | 03/15/27 | 350 | 386,137 | |
Entertainment 6.1% | |||||
Caesars Entertainment, Inc., Sr. Sec’d. Notes, 144A(aa) | 6.250 | 07/01/25 | 4,050 | 4,263,083 | |
Caesars Resort Collection LLC/CRC Finco, Inc., Sr. Sec’d. Notes, 144A | 5.750 | 07/01/25 | 1,000 | 1,050,554 | |
CCM Merger, Inc., Sr. Unsec’d. Notes, 144A | 6.375 | 05/01/26 | 1,350 | 1,421,173 | |
Churchill Downs, Inc., Gtd. Notes, 144A | 5.500 | 04/01/27 | 1,990 | 2,062,117 | |
Golden Entertainment, Inc., Sr. Unsec’d. Notes, 144A | 7.625 | 04/15/26 | 1,000 | 1,050,482 | |
International Game Technology PLC, | |||||
Sr. Sec’d. Notes, 144A | 6.250 | 01/15/27 | 1,125 | 1,267,186 | |
Sr. Sec’d. Notes, 144A | 6.500 | 02/15/25 | 2,800 | 3,111,633 | |
Motion Bondco DAC (United Kingdom), Gtd. Notes, 144A | 6.625 | 11/15/27 | 1,100 | 1,110,636 | |
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance, Inc., Sr. Unsec’d. Notes, 144A | 8.500 | 11/15/27 | 1,100 | 1,173,807 | |
Penn National Gaming, Inc., Sr. Unsec’d. Notes, 144A(aa) | 5.625 | 01/15/27 | 3,880 | 4,009,038 | |
Scientific Games International, Inc., | |||||
Gtd. Notes, 144A(aa) | 8.250 | 03/15/26 | 4,000 | 4,244,793 | |
Gtd. Notes, 144A | 8.625 | 07/01/25 | 875 | 945,781 | |
Sr. Sec’d. Notes, 144A | 5.000 | 10/15/25 | 300 | 309,078 | |
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Sr. Unsec’d. Notes, 144A(aa) | 7.750 | 04/15/25 | 3,440 | 3,624,412 | |
29,643,773 | |||||
Environmental Control 0.0% | |||||
GFL Environmental, Inc. (Canada), Gtd. Notes, 144A | 4.000 | 08/01/28 | 225 | 219,750 |
9
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Foods 3.3% | |||||
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC, | |||||
Gtd. Notes, 144A | 3.250 % | 03/15/26 | 362 | $368,130 | |
Gtd. Notes, 144A(aa) | 4.625 | 01/15/27 | 4,100 | 4,289,735 | |
B&G Foods, Inc., | |||||
Gtd. Notes | 5.250 | 04/01/25 | 2,750 | 2,814,425 | |
Gtd. Notes | 5.250 | 09/15/27 | 1,050 | 1,077,340 | |
Chobani LLC/Chobani Finance Corp., Inc., Gtd. Notes, 144A | 7.500 | 04/15/25 | 1,775 | 1,844,994 | |
Pilgrim’s Pride Corp., Gtd. Notes, 144A(aa) | 5.875 | 09/30/27 | 4,500 | 4,742,867 | |
US Foods, Inc., Sr. Sec’d. Notes, 144A | 6.250 | 04/15/25 | 675 | 708,462 | |
15,845,953 | |||||
Forest Products & Paper 0.1% | |||||
Pearl Merger Sub, Inc., Sr. Sec’d. Notes, 144A | 6.750 | 10/01/28 | 525 | 523,598 | |
Gas 1.0% | |||||
AmeriGas Partners LP/AmeriGas Finance Corp., | |||||
Sr. Unsec’d. Notes | 5.625 | 05/20/24 | 1,200 | 1,297,618 | |
Sr. Unsec’d. Notes | 5.750 | 05/20/27 | 1,675 | 1,874,327 | |
Sr. Unsec’d. Notes | 5.875 | 08/20/26 | 1,500 | 1,675,097 | |
4,847,042 | |||||
Healthcare-Services 4.8% | |||||
HCA, Inc., | |||||
Gtd. Notes(aa) | 5.875 | 02/15/26 | 4,214 | 4,799,585 | |
Gtd. Notes | 7.050 | 12/01/27 | 792 | 995,111 | |
Legacy LifePoint Health LLC, Sr. Sec’d. Notes, 144A | 6.750 | 04/15/25 | 3,225 | 3,386,267 | |
MEDNAX, Inc., Gtd. Notes, 144A | 6.250 | 01/15/27 | 1,900 | 1,994,428 | |
Prime Healthcare Services, Inc., Sr. Sec’d. Notes, 144A | 7.250 | 11/01/25 | 2,358 | 2,515,857 |
10
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Healthcare-Services (cont’d.) | |||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., Gtd. Notes, 144A | 9.750 % | 12/01/26 | 4,050 | $4,273,509 | |
Tenet Healthcare Corp., | |||||
Gtd. Notes, 144A | 6.125 | 10/01/28 | 450 | 472,592 | |
Sr. Sec’d. Notes(aa) | 4.625 | 07/15/24 | 3,205 | 3,247,310 | |
Sr. Sec’d. Notes, 144A | 4.875 | 01/01/26 | 500 | 514,122 | |
Sr. Unsec’d. Notes | 6.750 | 06/15/23 | 1,200 | 1,289,462 | |
23,488,243 | |||||
Home Builders 4.8% | |||||
Beazer Homes USA, Inc., Gtd. Notes(aa) | 5.875 | 10/15/27 | 4,825 | 5,041,376 | |
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), Gtd. Notes, 144A | 6.250 | 09/15/27 | 2,512 | 2,621,868 | |
Century Communities, Inc., Gtd. Notes | 6.750 | 06/01/27 | 1,000 | 1,062,721 | |
Empire Communities Corp. (Canada), Sr. Unsec’d. Notes, 144A | 7.000 | 12/15/25 | 2,310 | 2,403,643 | |
Forestar Group, Inc., Gtd. Notes, 144A | 3.850 | 05/15/26 | 1,150 | 1,150,388 | |
KB Home, Gtd. Notes | 6.875 | 06/15/27 | 432 | 509,924 | |
M/I Homes, Inc., Gtd. Notes | 4.950 | 02/01/28 | 700 | 729,426 | |
Mattamy Group Corp. (Canada), Sr. Unsec’d. Notes, 144A | 5.250 | 12/15/27 | 1,875 | 1,955,068 | |
Meritage Homes Corp., Gtd. Notes | 6.000 | 06/01/25 | 1,115 | 1,249,033 | |
Taylor Morrison Communities, Inc., | |||||
Gtd. Notes, 144A | 5.875 | 06/15/27 | 1,971 | 2,212,412 | |
Gtd. Notes, 144A | 6.625 | 07/15/27 | 2,257 | 2,381,252 | |
TRI Pointe Group, Inc./TRI Pointe Homes, Inc., Gtd. Notes | 5.875 | 06/15/24 | 700 | 772,966 | |
Tri Pointe Homes, Inc., Gtd. Notes | 5.250 | 06/01/27 | 1,150 | 1,240,882 | |
23,330,959 |
11
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Housewares 0.1% | |||||
Scotts Miracle-Gro Co. (The), Gtd. Notes | 4.500 % | 10/15/29 | 250 | $260,267 | |
Internet 2.9% | |||||
Cablevision Lightpath LLC, Sr. Sec’d. Notes, 144A | 3.875 | 09/15/27 | 2,120 | 2,063,185 | |
Cogent Communications Group, Inc., Sr. Sec’d. Notes, 144A | 3.500 | 05/01/26 | 1,575 | 1,594,567 | |
Go Daddy Operating Co. LLC/GD Finance Co., Inc., Gtd. Notes, 144A | 5.250 | 12/01/27 | 2,985 | 3,099,956 | |
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc., Sr. Sec’d. Notes, 144A | 4.750 | 04/30/27 | 1,970 | 1,923,589 | |
NortonLifeLock, Inc., Sr. Unsec’d. Notes, 144A(aa) | 5.000 | 04/15/25 | 5,500 | 5,572,966 | |
14,254,263 | |||||
Iron/Steel 0.7% | |||||
Big River Steel LLC/BRS Finance Corp., Sr. Sec’d. Notes, 144A | 6.625 | 01/31/29 | 859 | 933,630 | |
Cleveland-Cliffs, Inc., Sr. Sec’d. Notes, 144A | 9.875 | 10/17/25 | 2,115 | 2,420,482 | |
3,354,112 | |||||
Leisure Time 0.1% | |||||
Viking Cruises Ltd., Gtd. Notes, 144A | 6.250 | 05/15/25 | 500 | 498,919 | |
Lodging 3.4% | |||||
Hilton Domestic Operating Co., Inc., | |||||
Gtd. Notes, 144A | 3.625 | 02/15/32 | 25 | 24,410 | |
Gtd. Notes, 144A | 5.375 | 05/01/25 | 1,100 | 1,147,777 | |
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., Gtd. Notes | 4.875 | 04/01/27 | 120 | 124,228 | |
MGM Resorts International, | |||||
Gtd. Notes(aa) | 4.625 | 09/01/26 | 4,585 | 4,788,202 | |
Gtd. Notes | 5.500 | 04/15/27 | 900 | 969,498 | |
Gtd. Notes | 6.750 | 05/01/25 | 3,237 | 3,414,450 |
12
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Lodging (cont’d.) | |||||
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., Sr. Sec’d. Notes, 144A(aa) | 5.875 % | 05/15/25 | 3,896 | $3,864,748 | |
Travel + Leisure Co., Sr. Sec’d. Notes | 6.600 | 10/01/25 | 1,300 | 1,451,377 | |
Wynn Macau Ltd. (Macau), | |||||
Sr. Unsec’d. Notes, 144A | 4.875 | 10/01/24 | 350 | 332,003 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 01/15/26 | 300 | 282,863 | |
16,399,556 | |||||
Machinery-Diversified 1.5% | |||||
Maxim Crane Works Holdings Capital LLC, Sec’d. Notes, 144A(aa) | 10.125 | 08/01/24 | 3,996 | 4,107,844 | |
TK Elevator US Newco, Inc. (Germany), Sr. Sec’d. Notes, 144A(aa) | 5.250 | 07/15/27 | 3,175 | 3,236,193 | |
7,344,037 | |||||
Media 10.2% | |||||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/28 | 915 | 951,590 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 05/01/27 | 2,415 | 2,505,319 | |
Sr. Unsec’d. Notes, 144A(aa) | 5.500 | 05/01/26 | 3,374 | 3,484,452 | |
CSC Holdings LLC, | |||||
Gtd. Notes, 144A | 5.375 | 02/01/28 | 500 | 515,320 | |
Gtd. Notes, 144A(aa) | 5.500 | 04/15/27 | 4,520 | 4,667,123 | |
Sr. Unsec’d. Notes | 5.250 | 06/01/24 | 500 | 525,609 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 04/01/28 | 200 | 213,664 | |
DISH DBS Corp., | |||||
Gtd. Notes | 5.000 | 03/15/23 | 500 | 517,376 | |
Gtd. Notes | 5.875 | 07/15/22 | 910 | 933,774 | |
Gtd. Notes | 5.875 | 11/15/24 | 2,850 | 3,041,219 | |
Gtd. Notes | 7.750 | 07/01/26 | 1,950 | 2,170,495 | |
Gray Television, Inc., Gtd. Notes, 144A(aa) | 5.875 | 07/15/26 | 5,373 | 5,547,637 | |
iHeartCommunications, Inc., | |||||
Sr. Sec’d. Notes | 6.375 | 05/01/26 | 1,665 | 1,744,260 | |
Sr. Sec’d. Notes, 144A | 4.750 | 01/15/28 | 605 | 610,036 | |
13
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Media (cont’d.) | |||||
Midcontinent Communications/Midcontinent Finance Corp., Gtd. Notes, 144A | 5.375 % | 08/15/27 | 830 | $862,917 | |
Nexstar Media, Inc., Gtd. Notes, 144A | 5.625 | 07/15/27 | 3,000 | 3,164,115 | |
Radiate Holdco LLC/Radiate Finance, Inc., Sr. Sec’d. Notes, 144A(aa) | 4.500 | 09/15/26 | 4,350 | 4,420,593 | |
Scripps Escrow, Inc., Gtd. Notes, 144A | 5.875 | 07/15/27 | 455 | 464,507 | |
Sinclair Television Group, Inc., Gtd. Notes, 144A | 5.875 | 03/15/26 | 3,000 | 3,069,344 | |
Univision Communications, Inc., | |||||
Sr. Sec’d. Notes, 144A(aa) | 5.125 | 02/15/25 | 5,685 | 5,786,829 | |
Sr. Sec’d. Notes, 144A | 9.500 | 05/01/25 | 500 | 543,180 | |
Videotron Ltd. (Canada), Gtd. Notes, 144A(aa) | 5.375 | 06/15/24 | 3,414 | 3,669,891 | |
49,409,250 | |||||
Mining 4.9% | |||||
Constellium SE, Gtd. Notes, 144A | 5.875 | 02/15/26 | 4,000 | 4,073,099 | |
First Quantum Minerals Ltd. (Zambia), | |||||
Gtd. Notes, 144A | 6.500 | 03/01/24 | 500 | 507,644 | |
Gtd. Notes, 144A | 6.875 | 03/01/26 | 300 | 312,102 | |
Gtd. Notes, 144A | 7.250 | 04/01/23 | 4,500 | 4,578,731 | |
Gtd. Notes, 144A | 7.500 | 04/01/25 | 2,280 | 2,358,850 | |
Freeport-McMoRan, Inc., Gtd. Notes | 4.375 | 08/01/28 | 650 | 676,730 | |
Hudbay Minerals, Inc. (Canada), Gtd. Notes, 144A | 4.500 | 04/01/26 | 2,920 | 2,911,645 | |
New Gold, Inc. (Canada), | |||||
Gtd. Notes, 144A | 6.375 | 05/15/25 | 3,272 | 3,362,017 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 07/15/27 | 600 | 647,807 | |
Novelis Corp., Gtd. Notes, 144A | 3.250 | 11/15/26 | 4,420 | 4,418,216 | |
23,846,841 |
14
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Miscellaneous Manufacturing 0.3% | |||||
Amsted Industries, Inc., Gtd. Notes, 144A | 5.625 % | 07/01/27 | 1,300 | $1,354,895 | |
Office/Business Equipment 1.5% | |||||
CDW LLC/CDW Finance Corp., Gtd. Notes(aa) | 4.125 | 05/01/25 | 7,250 | 7,475,353 | |
Oil & Gas 4.3% | |||||
Aethon United BR LP/Aethon United Finance Corp., Sr. Unsec’d. Notes, 144A | 8.250 | 02/15/26 | 850 | 912,795 | |
Antero Resources Corp., Gtd. Notes, 144A | 8.375 | 07/15/26 | 750 | 844,063 | |
Ascent Resources Utica Holdings LLC/ARU Finance Corp., Gtd. Notes, 144A | 7.000 | 11/01/26 | 500 | 516,218 | |
Athabasca Oil Corp. (Canada), Sec’d. Notes, 144A | 9.750 | 11/01/26 | 1,725 | 1,736,038 | |
Chesapeake Energy Corp., Gtd. Notes, 144A | 5.500 | 02/01/26 | 425 | 444,816 | |
Endeavor Energy Resources LP/EER Finance, Inc., Sr. Unsec’d. Notes, 144A | 6.625 | 07/15/25 | 500 | 527,291 | |
EQT Corp., Sr. Unsec’d. Notes | 3.900 | 10/01/27 | 2,875 | 3,064,957 | |
Hilcorp Energy I LP/Hilcorp Finance Co., Sr. Unsec’d. Notes, 144A | 5.750 | 10/01/25 | 2,625 | 2,678,813 | |
MEG Energy Corp. (Canada), Sec’d. Notes, 144A | 6.500 | 01/15/25 | 1,636 | 1,675,349 | |
Occidental Petroleum Corp., | |||||
Sr. Unsec’d. Notes | 3.500 | 06/15/25 | 150 | 154,937 | |
Sr. Unsec’d. Notes | 5.550 | 03/15/26 | 525 | 579,584 | |
Sr. Unsec’d. Notes | 5.875 | 09/01/25 | 2,425 | 2,691,750 | |
Sr. Unsec’d. Notes | 6.375 | 09/01/28 | 500 | 584,528 | |
Ovintiv Exploration, Inc., Gtd. Notes | 5.375 | 01/01/26 | 500 | 556,175 | |
Range Resources Corp., | |||||
Gtd. Notes | 5.000 | 03/15/23 | 2,000 | 2,055,593 | |
Gtd. Notes | 9.250 | 02/01/26 | 700 | 757,961 |
15
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
Sunoco LP/Sunoco Finance Corp., Gtd. Notes | 6.000 % | 04/15/27 | 1,200 | $1,257,285 | |
21,038,153 | |||||
Packaging & Containers 2.4% | |||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.125 | 08/15/26 | 525 | 535,632 | |
Sr. Unsec’d. Notes, 144A | 5.250 | 08/15/27 | 2,000 | 1,995,261 | |
Graham Packaging Co., Inc., Gtd. Notes, 144A | 7.125 | 08/15/28 | 1,300 | 1,337,437 | |
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada), Sr. Sec’d. Notes, 144A | 6.000 | 09/15/28 | 1,950 | 2,007,836 | |
Owens-Brockway Glass Container, Inc., Gtd. Notes, 144A | 6.625 | 05/13/27 | 1,000 | 1,067,908 | |
Plastipak Holdings, Inc., Sr. Unsec’d. Notes, 144A | 6.250 | 10/15/25 | 2,375 | 2,418,097 | |
Sealed Air Corp., Gtd. Notes, 144A | 5.500 | 09/15/25 | 1,000 | 1,104,684 | |
Trident TPI Holdings, Inc., Gtd. Notes, 144A | 9.250 | 08/01/24 | 1,000 | 1,048,085 | |
11,514,940 | |||||
Pharmaceuticals 3.6% | |||||
AdaptHealth LLC, Gtd. Notes, 144A | 6.125 | 08/01/28 | 1,550 | 1,643,938 | |
Bausch Health Americas, Inc., | |||||
Gtd. Notes, 144A | 8.500 | 01/31/27 | 1,675 | 1,782,413 | |
Gtd. Notes, 144A | 9.250 | 04/01/26 | 234 | 248,977 | |
Bausch Health Cos., Inc., | |||||
Gtd. Notes, 144A | 5.000 | 01/30/28 | 376 | 348,142 | |
Gtd. Notes, 144A(aa) | 6.125 | 04/15/25 | 1,758 | 1,791,813 | |
Gtd. Notes, 144A(aa) | 9.000 | 12/15/25 | 6,131 | 6,434,344 | |
P&L Development LLC/PLD Finance Corp., Sr. Sec’d. Notes, 144A(aa) | 7.750 | 11/15/25 | 5,139 | 5,279,523 | |
17,529,150 |
16
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pipelines 2.2% | |||||
Antero Midstream Partners LP/Antero Midstream Finance Corp., Gtd. Notes, 144A | 7.875 % | 05/15/26 | 1,150 | $1,259,794 | |
EQM Midstream Partners LP, Sr. Unsec’d. Notes, 144A | 6.000 | 07/01/25 | 1,375 | 1,497,680 | |
Global Partners LP/GLP Finance Corp., Gtd. Notes | 7.000 | 08/01/27 | 750 | 781,271 | |
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., | |||||
Gtd. Notes, 144A | 6.000 | 03/01/27 | 1,384 | 1,439,653 | |
Gtd. Notes, 144A | 7.500 | 10/01/25 | 1,500 | 1,622,066 | |
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Gtd. Notes | 6.500 | 07/15/27 | 1,200 | 1,290,015 | |
Western Midstream Operating LP, | |||||
Sr. Unsec’d. Notes | 3.950 | 06/01/25 | 500 | 526,828 | |
Sr. Unsec’d. Notes | 4.350 | 02/01/25 | 2,100 | 2,204,287 | |
10,621,594 | |||||
Real Estate 0.8% | |||||
Five Point Operating Co. LP/Five Point Capital Corp., Gtd. Notes, 144A | 7.875 | 11/15/25 | 1,875 | 1,953,746 | |
Greystar Real Estate Partners LLC, Sr. Sec’d. Notes, 144A | 5.750 | 12/01/25 | 100 | 101,733 | |
Howard Hughes Corp. (The), Gtd. Notes, 144A | 5.375 | 08/01/28 | 1,647 | 1,731,252 | |
3,786,731 | |||||
Real Estate Investment Trusts (REITs) 6.3% | |||||
Diversified Healthcare Trust, Gtd. Notes(aa) | 9.750 | 06/15/25 | 4,968 | 5,396,602 | |
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., Gtd. Notes | 4.500 | 09/01/26 | 901 | 977,617 | |
MPT Operating Partnership LP/MPT Finance Corp., Gtd. Notes | 5.000 | 10/15/27 | 1,900 | 1,999,637 |
17
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Real Estate Investment Trusts (REITs) (cont’d.) | |||||
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, Sr. Sec’d. Notes, 144A | 7.500 % | 06/01/25 | 2,500 | $2,655,649 | |
RHP Hotel Properties LP/RHP Finance Corp., Gtd. Notes | 4.750 | 10/15/27 | 625 | 640,747 | |
SBA Communications Corp., Sr. Unsec’d. Notes(aa) | 4.875 | 09/01/24 | 5,000 | 5,062,444 | |
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, | |||||
Gtd. Notes, 144A | 7.125 | 12/15/24 | 1,460 | 1,497,008 | |
Sr. Sec’d. Notes, 144A(aa) | 7.875 | 02/15/25 | 7,450 | 7,843,146 | |
VICI Properties LP/VICI Note Co., Inc., | |||||
Gtd. Notes, 144A | 3.750 | 02/15/27 | 1,449 | 1,489,037 | |
Gtd. Notes, 144A | 4.250 | 12/01/26 | 2,825 | 2,927,671 | |
30,489,558 | |||||
Retail 2.7% | |||||
1011778 BC ULC/New Red Finance, Inc. (Canada), Sr. Sec’d. Notes, 144A | 3.875 | 01/15/28 | 425 | 423,960 | |
Ambience Merger Sub, Inc., Sr. Sec’d. Notes, 144A | 4.875 | 07/15/28 | 100 | 98,145 | |
Brinker International, Inc., | |||||
Gtd. Notes, 144A | 5.000 | 10/01/24 | 825 | 873,892 | |
Sr. Unsec’d. Notes | 3.875 | 05/15/23 | 1,875 | 1,928,187 | |
eG Global Finance PLC (United Kingdom), Sr. Sec’d. Notes, 144A(aa) | 8.500 | 10/30/25 | 4,910 | 5,115,129 | |
Golden Nugget, Inc., Sr. Unsec’d. Notes, 144A | 6.750 | 10/15/24 | 1,925 | 1,932,079 | |
Sally Holdings LLC/Sally Capital, Inc., Sec’d. Notes, 144A | 8.750 | 04/30/25 | 2,500 | 2,684,500 | |
13,055,892 | |||||
Semiconductors 1.3% | |||||
Microchip Technology, Inc., Gtd. Notes(aa) | 4.250 | 09/01/25 | 6,200 | 6,446,611 |
18
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Software 3.6% | |||||
Boxer Parent Co., Inc., Sr. Sec’d. Notes, 144A | 7.125 % | 10/02/25 | 2,000 | $2,121,852 | |
Camelot Finance SA, Sr. Sec’d. Notes, 144A | 4.500 | 11/01/26 | 4,775 | 4,950,664 | |
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., Gtd. Notes, 144A | 5.750 | 03/01/25 | 2,500 | 2,521,623 | |
Clarivate Science Holdings Corp., Sr. Sec’d. Notes, 144A | 3.875 | 07/01/28 | 810 | 800,802 | |
Dun & Bradstreet Corp. (The), | |||||
Gtd. Notes, 144A | 10.250 | 02/15/27 | 845 | 906,552 | |
Sr. Sec’d. Notes, 144A | 6.875 | 08/15/26 | 916 | 956,871 | |
Open Text Corp. (Canada), Gtd. Notes, 144A | 5.875 | 06/01/26 | 2,500 | 2,584,968 | |
SS&C Technologies, Inc., Gtd. Notes, 144A | 5.500 | 09/30/27 | 2,500 | 2,633,424 | |
17,476,756 | |||||
Telecommunications 6.9% | |||||
Altice France SA (France), Sr. Sec’d. Notes, 144A | 8.125 | 02/01/27 | 2,420 | 2,600,667 | |
CommScope, Inc., Sr. Sec’d. Notes, 144A | 6.000 | 03/01/26 | 2,465 | 2,553,203 | |
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), | |||||
Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% | 13.000 | 12/31/25 | 1,553 | 1,591,961 | |
Sr. Sec’d. Notes, 144A | 8.750 | 05/25/24 | 1,000 | 1,040,001 | |
Sr. Sec’d. Notes, 144A | 8.750 | 05/25/24 | 3,560 | 3,696,049 | |
Digicel Ltd. (Jamaica), Gtd. Notes, 144A | 6.750 | 03/01/23 | 1,000 | 967,095 | |
Iliad Holding SAS (France), | |||||
Sr. Sec’d. Notes, 144A | 6.500 | 10/15/26 | 1,075 | 1,107,648 | |
Sr. Sec’d. Notes, 144A | 7.000 | 10/15/28 | 375 | 386,284 | |
Lumen Technologies, Inc., Sr. Unsec’d. Notes, Series T | 5.800 | 03/15/22 | 2,700 | 2,736,595 | |
Sprint Corp., | |||||
Gtd. Notes | 7.625 | 02/15/25 | 2,030 | 2,361,480 | |
Gtd. Notes(aa) | 7.625 | 03/01/26 | 5,150 | 6,180,709 |
19
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Telecommunications (cont’d.) | |||||
Viasat, Inc., | |||||
Sr. Sec’d. Notes, 144A | 5.625 % | 04/15/27 | 1,500 | $1,560,061 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 09/15/25 | 2,985 | 3,025,080 | |
Zayo Group Holdings, Inc., Sr. Sec’d. Notes, 144A | 4.000 | 03/01/27 | 3,720 | 3,612,225 | |
33,419,058 | |||||
Toys/Games/Hobbies 0.0% | |||||
Mattel, Inc., Gtd. Notes, 144A | 3.375 | 04/01/26 | 250 | 257,733 | |
Transportation 0.8% | |||||
XPO Logistics, Inc., Gtd. Notes, 144A(aa) | 6.250 | 05/01/25 | 3,553 | 3,743,237 | |
Trucking & Leasing 0.2% | |||||
Fortress Transportation & Infrastructure Investors LLC, Sr. Unsec’d. Notes, 144A | 5.500 | 05/01/28 | 850 | 852,442 | |
Total Corporate Bonds (cost $530,271,048) | 532,797,603 |
Units | |||||
Warrants* 0.0% | |||||
Chemicals 0.0% | |||||
TPC Group, Inc., expiring 08/01/24^ | 104,385 | 490 | |||
Oil, Gas & Consumable Fuels 0.0% | |||||
Athabasca Oil Corp. (Canada), expiring 11/01/26 | 1,725 | 106 | |||
Total Warrants (cost $0) | 596 | ||||
Total Long-Term Investments (cost $601,565,085) | 604,025,444 |
20
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Description | Shares | Value | |||
Short-Term Investment 2.8% | |||||
Affiliated Mutual Fund | |||||
PGIM Core Ultra Short Bond Fund (cost $13,280,846)(wb) | 13,280,846 | $13,280,846 | |||
TOTAL INVESTMENTS 127.0% (cost $614,845,931) | 617,306,290 | ||||
Liabilities in excess of other assets(z) (27.0)% | (131,072,115) | ||||
Net Assets 100.0% | $486,234,175 |
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. |
iBoxx | Bond Market Indices |
LIBOR | London Interbank Offered Rate |
LP | Limited Partnership |
PIK | Payment-in-Kind |
REITs | Real Estate Investment Trust |
* | Non-income producing security. |
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $490 and 0.0% of net assets. |
(aa) | Represents security, or a portion thereof, with aggregate value of $167,592,579 segregated as collateral for amount of $135,000,000 borrowed and outstanding as of October 31, 2021. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at October 31, 2021. |
(p) | Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end. |
(wb) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
Unfunded loan commitment outstanding at October 31, 2021:
Borrower | Principal Amount (000)# | Current Value | Unrealized Appreciation | Unrealized Depreciation | ||||
Trident TPI Holdings, Inc., First Lien Tranche B-3 Delayed Draw Term Loan, 3 Month LIBOR + 4.000%, 4.500%(c), Maturity Date 09/15/28 (cost $33,373) | 33 | $33,420 | $48 | $— |
21
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2021
Total return swap agreements outstanding at October 31, 2021: | ||||||||||||||
Reference Entity | Financing Rate | Counterparty | Termination Date | Long (Short) Notional Amount (000)#(1) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation)(2) | |||||||
OTC Total Return Swap Agreements: | ||||||||||||||
iBoxx US Dollar Liquid High Index(T) | 3 Month LIBOR(Q) | Goldman Sachs International | 12/20/21 | 8,350 | $58,234 | $— | $58,234 | |||||||
iBoxx US Dollar Liquid High Index(T) | 3 Month LIBOR(Q) | Goldman Sachs International | 12/20/21 | 29,150 | 203,182 | — | 203,182 | |||||||
$261,416 | $— | $261,416 |
(1) | On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate. |
(2) | Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation). |
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).
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