PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 91.5% | |||||
Bank Loans 4.9% | |||||
Airlines 0.6% | |||||
American Airlines, Inc., Initial Term Loan, 3 Month LIBOR + 4.750% | 5.500 %(c) | 04/20/28 | 70,451 | $72,247,128 | |
United Airlines, Inc., Class B Term Loan, 3 Month LIBOR + 3.750% | 4.500(c) | 04/21/28 | 74,686 | 74,312,834 | |
146,559,962 | |||||
Chemicals 0.1% | |||||
Hexion, Inc., Senior Secured Term B Loan, 3 Month LIBOR + 3.500% | 3.640(c) | 07/01/26 | 9,497 | 9,488,795 | |
LSF11 A5 HoldCo LLC, Term Loan B, 3 Month LIBOR + 3.750% | 4.250(c) | 10/15/28 | 9,765 | 9,702,227 | |
19,191,022 | |||||
Commercial Services 0.1% | |||||
Verscend Holding Corp., New Term Loan B, 1 Month LIBOR + 4.000% | 4.090(c) | 08/27/25 | 24,127 | 24,081,530 | |
Computers 0.6% | |||||
McAfee LLC, Term B USD Loan, 1 Month LIBOR + 3.750% | 3.842(c) | 09/30/24 | 74,220 | 74,137,423 | |
Peraton Corp., First Lien Term B Loan, 1 Month LIBOR + 3.750% | 4.500(c) | 02/01/28 | 88,110 | 87,871,831 | |
162,009,254 | |||||
Electric 0.1% | |||||
Heritage Power LLC, Term Loan B, 3 Month LIBOR + 6.000% | 7.000(c) | 07/30/26 | 36,598 | 31,474,420 | |
PG&E Corp., Term Loan B, 3 Month LIBOR + 3.000% | 3.500(c) | 06/23/25 | 3,323 | 3,282,771 | |
34,757,191 | |||||
Engineering & Construction 0.1% | |||||
Landry’s Finance Acquisition Co., 2020 Initial Term Loan, 3 Month LIBOR + 12.000% | 13.000(c) | 10/04/23 | 21,265 | 22,859,940 |
1
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans (Continued) | |||||
Entertainment 0.2% | |||||
Golden Entertainment, Inc., Term B Facility Loan (First Lien), 1 Month LIBOR + 3.000% | 3.750 %(c) | 10/21/24 | 10,653 | $10,605,979 | |
Scientific Games International, Inc., Initial Term B-5 Loan, 1 Month LIBOR + 2.750% | 2.840(c) | 08/14/24 | 30,499 | 30,266,192 | |
40,872,171 | |||||
Housewares 0.0% | |||||
Sunset Debt Merger Sub, Inc., Initial Term Loan, 1 Month LIBOR + 4.000% | 4.750(c) | 10/06/28 | 6,945 | 6,852,402 | |
Insurance 0.3% | |||||
Asurion LLC, | |||||
New B-4 Term Loan, 1 Month LIBOR + 5.250% | 5.340(c) | 01/20/29 | 63,435 | 62,761,003 | |
New B-8 Term Loan, 1 Month LIBOR + 3.250% | 3.340(c) | 12/23/26 | 3,774 | 3,714,320 | |
New B-9 Term Loan, 1 Month LIBOR + 3.250% | 3.340(c) | 07/31/27 | 7,338 | 7,237,226 | |
Replacement B-6 Term Loan, 1 Month LIBOR + 3.125% | 3.215(c) | 11/03/23 | 3,926 | 3,909,013 | |
77,621,562 | |||||
Media 0.1% | |||||
Diamond Sports Group LLC, Term Loan, 1 Month LIBOR + 3.250% | 3.350(c) | 08/24/26 | 7,243 | 3,047,250 | |
iHeartCommunications, Inc., New Term Loan, 1 Month LIBOR + 3.000% | 3.090(c) | 05/01/26 | 15,555 | 15,346,182 | |
18,393,432 | |||||
Oil & Gas 0.4% | |||||
Ascent Resources Utica Holdings LLC, Second Lien Term Loan, 3 Month LIBOR + 9.000% | 10.000(c) | 11/01/25 | 58,174 | 63,264,225 | |
Citgo Holding, Inc., Term Loan, 3 Month LIBOR + 7.000% | 8.000(c) | 08/01/23 | 18,197 | 18,037,509 | |
Citgo Petroleum Corp., 2019 Incremental Term B Loan, 3 Month LIBOR + 6.250% | 7.250(c) | 03/28/24 | 15,892 | 15,858,752 | |
97,160,486 |
2
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans (Continued) | |||||
Pharmaceuticals 0.1% | |||||
Gainwell Acquisition Corp., Term B Loan, 3 Month LIBOR + 4.000% | 4.750 %(c) | 10/01/27 | 25,265 | $25,217,909 | |
Retail 0.3% | |||||
EG America LLC (United Kingdom), Project Becker Additional Facility, 3 Month LIBOR + 4.250% | 4.750(c) | 03/31/26 | 14,213 | 14,141,741 | |
Great Outdoors Group LLC, Term B-2 Loan, 3 Month LIBOR + 3.750% | 4.500(c) | 03/06/28 | 51,312 | 51,248,110 | |
Serta Simmons Bedding LLC, New Money Facility 2016, 1 Month LIBOR + 7.500% | 8.500(c) | 08/10/23 | 5,113 | 5,133,741 | |
70,523,592 | |||||
Software 1.2% | |||||
Boxer Parent Co., Inc., | |||||
2021 Replacement Dollar Term Loan, 3 Month LIBOR + 3.750% | 3.882(c) | 10/02/25 | 24,174 | 23,896,842 | |
Term Loan | —(p) | 02/27/26 | 11,900 | 12,004,125 | |
Camelot Co. (Luxembourg), Amendment No. 2 Incremental Term Loans, 1 Month LIBOR + 3.000% | 4.000(c) | 10/30/26 | 21,339 | 21,301,407 | |
Dun & Bradstreet Corp., Term Loan B, 1 Month LIBOR + 3.250% | 3.342(c) | 02/06/26 | 40,809 | 40,451,885 | |
Finastra USA, Inc., | |||||
Dollar Term Loan (Second Lien), 1 - 6 Month LIBOR + 7.250% | 8.250(c) | 06/13/25 | 30,459 | 30,351,146 | |
First Lien Dollar Term Loan, 1 - 3 Month LIBOR + 3.500% | 4.500(c) | 06/13/24 | 24,692 | 24,427,581 | |
Greeneden U.S. Holdings II LLC, B-4 Dollar Term Loan, 1 Month LIBOR + 4.000% | 4.750(c) | 12/01/27 | 18,937 | 18,917,963 | |
Rackspace Technology Global, Inc., Term B Loan, 3 Month LIBOR + 2.750% | 3.500(c) | 02/15/28 | 21,691 | 21,362,251 | |
Skillsoft Finance II, Inc., Initial Term Loan, 3 Month LIBOR + 4.750% | 5.500(c) | 07/14/28 | 42,091 | 42,143,495 | |
TIBCO Software, Inc., Term Loan B-3, 1 Month LIBOR + 3.750% | 3.850(c) | 06/30/26 | 50,129 | 49,361,728 | |
284,218,423 |
3
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans (Continued) | |||||
Telecommunications 0.7% | |||||
Crown Subsea Communications Holding, Inc., Initial Term Loan, 1 Month LIBOR + 5.000% | 5.750 %(c) | 04/27/27 | 8,335 | $8,371,514 | |
Digicel International Finance Ltd. (Saint Lucia), First Lien Initial Term B Loan, 6 Month LIBOR + 3.250% | 3.500(c) | 05/27/24 | 7,393 | 7,196,837 | |
Intelsat Jackson Holdings SA (Luxembourg), DIP Term Loan, 3 Month LIBOR + 4.750% | 5.750(c) | 07/13/22 | 22,541 | 22,583,790 | |
West Corp., Initial Term B Loan, 3 Month LIBOR + 4.000% | 5.000(c) | 10/10/24 | 63,452 | 60,279,443 | |
Xplornet Communications, Inc. (Canada), | |||||
Refinancing Term Loan, 1 Month LIBOR + 4.000% | 4.500(c) | 10/02/28 | 61,925 | 61,659,589 | |
Second Lien Initial Term Loan, 1 Month LIBOR + 7.000%^ | 7.500(c) | 10/01/29 | 11,290 | 11,261,775 | |
171,352,948 | |||||
Total Bank Loans (cost $1,196,065,635) | 1,201,671,824 | ||||
Convertible Bond 0.0% | |||||
Telecommunications | |||||
Digicel Group Holdings Ltd. (Jamaica), Sub. Notes, 144A, Cash coupon 7.000% or PIK N/A (cost $3,273,606)(a) | 7.000 | 12/16/21(oo) | 14,074 | 12,279,229 | |
Corporate Bonds 83.7% | |||||
Advertising 0.5% | |||||
National CineMedia LLC, Sr. Unsec’d. Notes(a) | 5.750 | 08/15/26 | 20,190 | 15,789,413 | |
Terrier Media Buyer, Inc., Gtd. Notes, 144A(a) | 8.875 | 12/15/27 | 95,300 | 100,963,939 | |
116,753,352 | |||||
Aerospace & Defense 3.4% | |||||
Boeing Co. (The), | |||||
Sr. Unsec’d. Notes | 5.150 | 05/01/30 | 59,726 | 69,388,208 | |
Sr. Unsec’d. Notes | 5.805 | 05/01/50 | 90,586 | 122,212,913 | |
Sr. Unsec’d. Notes | 5.930 | 05/01/60 | 46,770 | 64,957,197 | |
Bombardier, Inc. (Canada), | |||||
Sr. Unsec’d. Notes, 144A(a) | 6.000 | 02/15/28 | 43,550 | 43,249,211 |
4
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Aerospace & Defense (cont’d.) | |||||
Bombardier, Inc. (Canada), (cont’d.) | |||||
Sr. Unsec’d. Notes, 144A(a) | 7.125 % | 06/15/26 | 43,895 | $45,367,396 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 12/01/24 | 70,996 | 73,626,923 | |
Sr. Unsec’d. Notes, 144A(a) | 7.500 | 03/15/25 | 56,819 | 57,993,487 | |
Sr. Unsec’d. Notes, 144A(a) | 7.875 | 04/15/27 | 177,178 | 182,446,803 | |
Spirit AeroSystems, Inc., Sec’d. Notes, 144A | 7.500 | 04/15/25 | 27,900 | 29,188,769 | |
SSL Robotics LLC, Sr. Sec’d. Notes, 144A(a) | 9.750 | 12/31/23 | 27,335 | 29,448,052 | |
TransDigm UK Holdings PLC, Gtd. Notes | 6.875 | 05/15/26 | 4,875 | 5,127,791 | |
TransDigm, Inc., | |||||
Gtd. Notes | 4.625 | 01/15/29 | 21,600 | 20,728,334 | |
Gtd. Notes | 5.500 | 11/15/27 | 35,018 | 35,265,735 | |
Gtd. Notes | 6.375 | 06/15/26 | 9,977 | 10,266,747 | |
Sr. Sec’d. Notes, 144A | 6.250 | 03/15/26 | 26,400 | 27,382,573 | |
816,650,139 | |||||
Agriculture 0.3% | |||||
Vector Group Ltd., Sr. Sec’d. Notes, 144A | 5.750 | 02/01/29 | 68,084 | 64,739,947 | |
Airlines 0.8% | |||||
American Airlines, Inc., Sr. Sec’d. Notes, 144A | 11.750 | 07/15/25 | 14,753 | 17,888,292 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd., | |||||
Sr. Sec’d. Notes, 144A | 5.500 | 04/20/26 | 11,568 | 11,857,200 | |
Sr. Sec’d. Notes, 144A | 5.750 | 04/20/29 | 52,900 | 55,272,184 | |
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., Sr. Sec’d. Notes, 144A(a) | 5.750 | 01/20/26 | 29,037 | 29,709,440 | |
United Airlines, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.375 | 04/15/26 | 48,979 | 49,182,509 | |
Sr. Sec’d. Notes, 144A | 4.625 | 04/15/29 | 18,910 | 18,862,976 | |
182,772,601 | |||||
Apparel 0.2% | |||||
Kontoor Brands, Inc., Gtd. Notes, 144A | 4.125 | 11/15/29 | 5,275 | 5,261,610 |
5
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Apparel (cont’d.) | |||||
William Carter Co. (The), | |||||
Gtd. Notes, 144A | 5.500 % | 05/15/25 | 23,166 | $24,061,541 | |
Gtd. Notes, 144A | 5.625 | 03/15/27 | 6,352 | 6,558,178 | |
Wolverine World Wide, Inc., Gtd. Notes, 144A | 4.000 | 08/15/29 | 7,900 | 7,661,700 | |
43,543,029 | |||||
Auto Manufacturers 2.0% | |||||
Allison Transmission, Inc., | |||||
Gtd. Notes, 144A(a) | 3.750 | 01/30/31 | 22,112 | 21,157,396 | |
Sr. Unsec’d. Notes, 144A | 4.750 | 10/01/27 | 2,263 | 2,339,540 | |
Sr. Unsec’d. Notes, 144A(a) | 5.875 | 06/01/29 | 10,500 | 11,227,717 | |
Ford Holdings LLC, Gtd. Notes | 9.300 | 03/01/30 | 1,900 | 2,628,278 | |
Ford Motor Co., | |||||
Sr. Unsec’d. Notes(a) | 3.250 | 02/12/32 | 23,350 | 23,378,236 | |
Sr. Unsec’d. Notes(a) | 4.750 | 01/15/43 | 149,090 | 159,541,892 | |
Sr. Unsec’d. Notes(a) | 5.291 | 12/08/46 | 96,573 | 109,216,364 | |
Sr. Unsec’d. Notes | 7.400 | 11/01/46 | 24,455 | 33,055,583 | |
Ford Motor Credit Co. LLC, | |||||
Sr. Unsec’d. Notes | 3.350 | 11/01/22 | 3,860 | 3,905,035 | |
Sr. Unsec’d. Notes(a) | 4.000 | 11/13/30 | 17,950 | 18,828,121 | |
Sr. Unsec’d. Notes | 5.584 | 03/18/24 | 10,375 | 11,097,577 | |
Jaguar Land Rover Automotive PLC (United Kingdom), Gtd. Notes, 144A | 7.750 | 10/15/25 | 29,200 | 31,554,211 | |
PM General Purchaser LLC, Sr. Sec’d. Notes, 144A | 9.500 | 10/01/28 | 44,426 | 45,514,935 | |
Wabash National Corp., Gtd. Notes, 144A | 4.500 | 10/15/28 | 15,000 | 14,633,574 | |
488,078,459 | |||||
Auto Parts & Equipment 1.8% | |||||
Adient Global Holdings Ltd., Gtd. Notes, 144A(a) | 4.875 | 08/15/26 | 74,274 | 74,359,349 | |
Adient US LLC, Sr. Sec’d. Notes, 144A(a) | 9.000 | 04/15/25 | 10,609 | 11,265,395 | |
American Axle & Manufacturing, Inc., | |||||
Gtd. Notes(a) | 5.000 | 10/01/29 | 73,879 | 70,088,003 | |
Gtd. Notes(a) | 6.250 | 03/15/26 | 39,009 | 39,933,038 | |
Gtd. Notes(a) | 6.500 | 04/01/27 | 38,943 | 40,434,927 |
6
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Auto Parts & Equipment (cont’d.) | |||||
American Axle & Manufacturing, Inc., (cont’d.) | |||||
Gtd. Notes(a) | 6.875 % | 07/01/28 | 12,238 | $13,062,856 | |
Cooper-Standard Automotive, Inc., Gtd. Notes, 144A(a) | 5.625 | 11/15/26 | 26,081 | 21,273,034 | |
Dana Financing Luxembourg Sarl, Gtd. Notes, 144A | 5.750 | 04/15/25 | 8,739 | 8,957,103 | |
Dana, Inc., | |||||
Sr. Unsec’d. Notes(a) | 4.250 | 09/01/30 | 24,360 | 24,255,741 | |
Sr. Unsec’d. Notes | 4.500 | 02/15/32 | 21,025 | 20,501,688 | |
Sr. Unsec’d. Notes(a) | 5.375 | 11/15/27 | 14,475 | 15,121,410 | |
Sr. Unsec’d. Notes(a) | 5.625 | 06/15/28 | 9,229 | 9,734,425 | |
Tenneco, Inc., | |||||
Sr. Sec’d. Notes, 144A(a) | 5.125 | 04/15/29 | 54,000 | 52,072,510 | |
Sr. Sec’d. Notes, 144A | 7.875 | 01/15/29 | 5,950 | 6,371,049 | |
Titan International, Inc., Sr. Sec’d. Notes(a) | 7.000 | 04/30/28 | 24,795 | 25,491,469 | |
432,921,997 | |||||
Banks 0.2% | |||||
Citigroup, Inc., Jr. Sub. Notes | 3.875(ff) | 02/18/26(oo) | 26,150 | 25,922,785 | |
Freedom Mortgage Corp., Sr. Unsec’d. Notes, 144A | 7.625 | 05/01/26 | 26,490 | 25,637,301 | |
51,560,086 | |||||
Building Materials 1.7% | |||||
Cemex SAB de CV (Mexico), | |||||
Gtd. Notes, 144A | 5.450 | 11/19/29 | 23,375 | 24,734,832 | |
Gtd. Notes, 144A | 7.375 | 06/05/27 | 2,680 | 2,933,603 | |
Cornerstone Building Brands, Inc., Gtd. Notes, 144A(a) | 6.125 | 01/15/29 | 33,885 | 35,477,175 | |
Griffon Corp., Gtd. Notes(a) | 5.750 | 03/01/28 | 59,676 | 61,495,015 | |
JELD-WEN, Inc., | |||||
Gtd. Notes, 144A(a) | 4.625 | 12/15/25 | 15,940 | 16,108,203 | |
Gtd. Notes, 144A(a) | 4.875 | 12/15/27 | 10,914 | 11,172,170 | |
Masonite International Corp., | |||||
Gtd. Notes, 144A | 3.500 | 02/15/30 | 13,755 | 13,331,505 | |
Gtd. Notes, 144A | 5.375 | 02/01/28 | 1,906 | 1,988,369 |
7
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Building Materials (cont’d.) | |||||
Patrick Industries, Inc., | |||||
Gtd. Notes, 144A | 4.750 % | 05/01/29 | 19,275 | $18,848,957 | |
Gtd. Notes, 144A | 7.500 | 10/15/27 | 12,225 | 13,046,850 | |
SRM Escrow Issuer LLC, Sr. Sec’d. Notes, 144A | 6.000 | 11/01/28 | 62,337 | 64,905,120 | |
Standard Industries, Inc., | |||||
Sr. Unsec’d. Notes, 144A(a) | 3.375 | 01/15/31 | 28,900 | 26,634,571 | |
Sr. Unsec’d. Notes, 144A(a) | 4.375 | 07/15/30 | 45,172 | 44,454,285 | |
Sr. Unsec’d. Notes, 144A(a) | 4.750 | 01/15/28 | 21,395 | 21,563,998 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/15/27 | 23,535 | 24,149,090 | |
Summit Materials LLC/Summit Materials Finance Corp., | |||||
Gtd. Notes, 144A | 5.250 | 01/15/29 | 23,662 | 24,654,171 | |
Gtd. Notes, 144A | 6.500 | 03/15/27 | 4,845 | 5,047,477 | |
410,545,391 | |||||
Chemicals 3.1% | |||||
Ashland LLC, Gtd. Notes | 6.875 | 05/15/43 | 36,370 | 46,023,797 | |
Axalta Coating Systems LLC, Gtd. Notes, 144A | 3.375 | 02/15/29 | 3,060 | 2,908,022 | |
Chemours Co. (The), | |||||
Gtd. Notes(a) | 5.375 | 05/15/27 | 24,840 | 25,898,918 | |
Gtd. Notes, 144A(a) | 4.625 | 11/15/29 | 27,925 | 26,970,366 | |
Gtd. Notes, 144A(a) | 5.750 | 11/15/28 | 37,300 | 38,242,366 | |
Cornerstone Chemical Co., Sr. Sec’d. Notes, 144A(a) | 6.750 | 08/15/24 | 41,923 | 37,103,228 | |
Diamond BC BV, Gtd. Notes, 144A | 4.625 | 10/01/29 | 7,025 | 6,869,997 | |
EverArc Escrow Sarl, Sr. Sec’d. Notes, 144A(a) | 5.000 | 10/30/29 | 16,100 | 15,704,951 | |
Hexion, Inc., Gtd. Notes, 144A(a) | 7.875 | 07/15/27 | 45,016 | 47,689,789 | |
Ingevity Corp., Gtd. Notes, 144A | 3.875 | 11/01/28 | 8,103 | 7,763,999 | |
NOVA Chemicals Corp. (Canada), | |||||
Sr. Unsec’d. Notes, 144A(a) | 4.875 | 06/01/24 | 3,395 | 3,515,364 | |
Sr. Unsec’d. Notes, 144A(a) | 5.000 | 05/01/25 | 7,100 | 7,450,936 | |
Sr. Unsec’d. Notes, 144A(a) | 5.250 | 06/01/27 | 22,777 | 23,882,023 | |
Olympus Water US Holding Corp., | |||||
Sr. Sec’d. Notes, 144A | 4.250 | 10/01/28 | 19,050 | 18,454,688 | |
Sr. Unsec’d. Notes, 144A(a) | 6.250 | 10/01/29 | 10,500 | 10,096,551 |
8
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Chemicals (cont’d.) | |||||
Rain CII Carbon LLC/CII Carbon Corp., Sec’d. Notes, 144A | 7.250 % | 04/01/25 | 50,207 | $51,217,927 | |
SCIH Salt Holdings, Inc., Sr. Unsec’d. Notes, 144A(a) | 6.625 | 05/01/29 | 3,850 | 3,558,410 | |
SPCM SA (France), Sr. Unsec’d. Notes, 144A(a) | 3.375 | 03/15/30 | 13,100 | 12,510,666 | |
TPC Group, Inc., | |||||
Sr. Sec’d. Notes, 144A (original cost $67,161,094; purchased 07/19/19 - 02/09/21)(a)(f) | 10.500 | 08/01/24 | 71,803 | 50,216,607 | |
Sr. Sec’d. Notes, 144A (original cost $26,085,610; purchased 02/01/21 - 09/27/21)(f) | 10.875 | 08/01/24 | 25,785 | 27,700,352 | |
Tronox, Inc., | |||||
Gtd. Notes, 144A | 4.625 | 03/15/29 | 68,455 | 66,396,318 | |
Sr. Sec’d. Notes, 144A | 6.500 | 05/01/25 | 37,122 | 38,854,252 | |
Unifrax Escrow Issuer Corp., | |||||
Sr. Sec’d. Notes, 144A | 5.250 | 09/30/28 | 13,500 | 13,275,067 | |
Sr. Unsec’d. Notes, 144A(a) | 7.500 | 09/30/29 | 8,275 | 8,082,458 | |
Valvoline, Inc., | |||||
Gtd. Notes, 144A | 4.250 | 02/15/30 | 17,554 | 17,431,699 | |
Sr. Unsec’d. Notes, 144A | 3.625 | 06/15/31 | 22,525 | 21,627,602 | |
Venator Finance Sarl/Venator Materials LLC, | |||||
Gtd. Notes, 144A(a) | 5.750 | 07/15/25 | 63,804 | 59,334,615 | |
Sr. Sec’d. Notes, 144A | 9.500 | 07/01/25 | 20,930 | 22,857,223 | |
WR Grace Holdings LLC, | |||||
Sr. Sec’d. Notes, 144A(a) | 4.875 | 06/15/27 | 17,304 | 17,357,400 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 08/15/29 | 20,925 | 21,034,594 | |
750,030,185 | |||||
Coal 0.1% | |||||
Coronado Finance Pty Ltd. (Australia), Sr. Sec’d. Notes, 144A | 10.750 | 05/15/26 | 14,421 | 15,537,930 | |
Warrior Met Coal, Inc., Sr. Sec’d. Notes, 144A | 7.875 | 12/01/28 | 8,600 | 8,688,214 | |
24,226,144 | |||||
Commercial Services 4.0% | |||||
Adtalem Global Education, Inc., Sr. Sec’d. Notes, 144A | 5.500 | 03/01/28 | 32,773 | 31,610,325 | |
Allied Universal Holdco LLC/Allied Universal Finance Corp., | |||||
Sr. Sec’d. Notes, 144A | 6.625 | 07/15/26 | 41,555 | 42,750,775 |
9
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Commercial Services (cont’d.) | |||||
Allied Universal Holdco LLC/Allied Universal Finance Corp., (cont’d.) | |||||
Sr. Unsec’d. Notes, 144A(a) | 6.000 % | 06/01/29 | 63,898 | $60,716,846 | |
Sr. Unsec’d. Notes, 144A | 9.750 | 07/15/27 | 64,112 | 67,307,697 | |
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, | |||||
Sr. Sec’d. Notes, 144A(a) | 4.625 | 06/01/28 | 36,208 | 34,963,126 | |
Sr. Sec’d. Notes, 144A | 4.625 | 06/01/28 | 31,471 | 30,425,188 | |
Alta Equipment Group, Inc., Sec’d. Notes, 144A | 5.625 | 04/15/26 | 16,763 | 17,028,368 | |
AMN Healthcare, Inc., | |||||
Gtd. Notes, 144A(a) | 4.000 | 04/15/29 | 8,097 | 8,159,866 | |
Gtd. Notes, 144A | 4.625 | 10/01/27 | 24,300 | 24,978,391 | |
APi Escrow Corp., Gtd. Notes, 144A(a) | 4.750 | 10/15/29 | 13,225 | 13,391,730 | |
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., | |||||
Gtd. Notes, 144A(a) | 4.750 | 04/01/28 | 28,475 | 28,938,612 | |
Gtd. Notes, 144A | 5.750 | 07/15/27 | 370 | 383,708 | |
Avis Budget Finance PLC, Gtd. Notes | 4.750 | 01/30/26 | EUR | 11,000 | 12,700,944 |
Brink’s Co. (The), | |||||
Gtd. Notes, 144A(a) | 4.625 | 10/15/27 | 3,173 | 3,231,320 | |
Gtd. Notes, 144A | 5.500 | 07/15/25 | 10,210 | 10,624,293 | |
Carriage Services, Inc., Gtd. Notes, 144A | 4.250 | 05/15/29 | 11,125 | 11,024,051 | |
CoreLogic, Inc., Sr. Sec’d. Notes, 144A | 4.500 | 05/01/28 | 7,140 | 6,991,585 | |
Gartner, Inc., | |||||
Gtd. Notes, 144A | 3.625 | 06/15/29 | 13,275 | 13,249,043 | |
Gtd. Notes, 144A(a) | 3.750 | 10/01/30 | 8,975 | 8,955,697 | |
Gtd. Notes, 144A(a) | 4.500 | 07/01/28 | 1,355 | 1,407,901 | |
Hertz Corp. (The), | |||||
Gtd. Notes, 144A | 4.625 | 12/01/26 | 9,950 | 9,807,675 | |
Gtd. Notes, 144A | 5.000 | 12/01/29 | 18,800 | 18,424,286 | |
Metis Merger Sub LLC, Sr. Unsec’d. Notes, 144A | 6.500 | 05/15/29 | 60,271 | 58,936,301 | |
MPH Acquisition Holdings LLC, Sr. Sec’d. Notes, 144A | 5.500 | 09/01/28 | 50,185 | 48,668,671 | |
NESCO Holdings II, Inc., Sec’d. Notes, 144A | 5.500 | 04/15/29 | 28,290 | 28,708,997 | |
Nielsen Co. Luxembourg Sarl (The), Gtd. Notes, 144A(a) | 5.000 | 02/01/25 | 8,024 | 8,150,326 |
10
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Commercial Services (cont’d.) | |||||
Nielsen Finance LLC/Nielsen Finance Co., | |||||
Gtd. Notes, 144A | 5.625 % | 10/01/28 | 17,155 | $17,572,062 | |
Gtd. Notes, 144A | 5.875 | 10/01/30 | 7,265 | 7,565,140 | |
Service Corp. International, | |||||
Sr. Unsec’d. Notes | 3.375 | 08/15/30 | 14,439 | 13,883,524 | |
Sr. Unsec’d. Notes | 4.000 | 05/15/31 | 25,455 | 25,608,969 | |
United Rentals North America, Inc., | |||||
Gtd. Notes | 3.750 | 01/15/32 | 22,668 | 22,327,377 | |
Gtd. Notes(a) | 3.875 | 02/15/31 | 15,427 | 15,487,119 | |
Gtd. Notes(a) | 4.000 | 07/15/30 | 19,925 | 20,304,988 | |
Gtd. Notes(a) | 4.875 | 01/15/28 | 72,360 | 75,763,365 | |
Gtd. Notes(a) | 5.250 | 01/15/30 | 47,895 | 51,689,909 | |
Gtd. Notes | 5.500 | 05/15/27 | 3,080 | 3,203,978 | |
Verscend Escrow Corp., Sr. Unsec’d. Notes, 144A(a) | 9.750 | 08/15/26 | 117,714 | 123,824,515 | |
978,766,668 | |||||
Computers 0.4% | |||||
CA Magnum Holdings (India), Sr. Sec’d. Notes, 144A(a) | 5.375 | 10/31/26 | 6,425 | 6,584,470 | |
NCR Corp., | |||||
Gtd. Notes, 144A | 5.000 | 10/01/28 | 18,075 | 18,262,845 | |
Gtd. Notes, 144A(a) | 5.125 | 04/15/29 | 27,300 | 27,623,578 | |
Gtd. Notes, 144A(a) | 5.250 | 10/01/30 | 12,000 | 12,181,908 | |
Gtd. Notes, 144A | 5.750 | 09/01/27 | 11,642 | 12,080,708 | |
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., Sr. Sec’d. Notes, 144A | 5.750 | 06/01/25 | 25,215 | 26,209,853 | |
102,943,362 | |||||
Distribution/Wholesale 0.3% | |||||
Avient Corp., Sr. Unsec’d. Notes, 144A | 5.750 | 05/15/25 | 8,225 | 8,526,770 | |
H&E Equipment Services, Inc., Gtd. Notes, 144A(a) | 3.875 | 12/15/28 | 72,705 | 70,708,924 | |
79,235,694 | |||||
Diversified Financial Services 2.7% | |||||
Alliance Data Systems Corp., Gtd. Notes, 144A | 4.750 | 12/15/24 | 27,673 | 28,083,473 |
11
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Diversified Financial Services (cont’d.) | |||||
goeasy Ltd. (Canada), | |||||
Gtd. Notes, 144A(a) | 4.375 % | 05/01/26 | 16,875 | $17,273,285 | |
Gtd. Notes, 144A | 5.375 | 12/01/24 | 4,723 | 4,856,666 | |
Home Point Capital, Inc., Gtd. Notes, 144A(a) | 5.000 | 02/01/26 | 29,650 | 27,462,369 | |
Jefferies Finance LLC/JFIN Co-Issuer Corp., Sr. Unsec’d. Notes, 144A | 5.000 | 08/15/28 | 52,216 | 52,339,796 | |
LD Holdings Group LLC, Gtd. Notes, 144A(a) | 6.125 | 04/01/28 | 46,088 | 42,314,706 | |
LFS Topco LLC, Gtd. Notes, 144A | 5.875 | 10/15/26 | 27,050 | 27,984,118 | |
LPL Holdings, Inc., | |||||
Gtd. Notes, 144A(a) | 4.000 | 03/15/29 | 45,600 | 45,784,030 | |
Gtd. Notes, 144A | 4.375 | 05/15/31 | 2,000 | 2,015,794 | |
Nationstar Mortgage Holdings, Inc., | |||||
Gtd. Notes, 144A(a) | 5.125 | 12/15/30 | 62,025 | 59,942,962 | |
Gtd. Notes, 144A | 5.500 | 08/15/28 | 4,135 | 4,114,928 | |
Gtd. Notes, 144A | 6.000 | 01/15/27 | 43,670 | 45,110,432 | |
Navient Corp., Sr. Unsec’d. Notes | 5.500 | 03/15/29 | 29,975 | 29,539,633 | |
OneMain Finance Corp., | |||||
Gtd. Notes | 3.875 | 09/15/28 | 13,100 | 12,610,245 | |
Gtd. Notes(a) | 4.000 | 09/15/30 | 26,020 | 25,085,072 | |
Gtd. Notes(a) | 5.375 | 11/15/29 | 11,468 | 12,078,687 | |
Gtd. Notes | 6.625 | 01/15/28 | 52,184 | 57,903,207 | |
Gtd. Notes | 6.875 | 03/15/25 | 43,025 | 47,336,065 | |
Gtd. Notes | 7.125 | 03/15/26 | 66,510 | 74,783,656 | |
Gtd. Notes | 8.250 | 10/01/23 | 1,568 | 1,727,199 | |
PennyMac Financial Services, Inc., | |||||
Gtd. Notes, 144A | 4.250 | 02/15/29 | 21,950 | 20,207,798 | |
Gtd. Notes, 144A | 5.375 | 10/15/25 | 24,700 | 25,125,181 | |
663,679,302 | |||||
Electric 4.0% | |||||
Calpine Corp., | |||||
Sr. Sec’d. Notes, 144A | 3.750 | 03/01/31 | 10,330 | 9,878,126 | |
Sr. Sec’d. Notes, 144A(a) | 4.500 | 02/15/28 | 16,141 | 16,056,491 | |
Sr. Sec’d. Notes, 144A | 5.250 | 06/01/26 | 5,690 | 5,829,558 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 02/01/29 | 72,390 | 69,331,567 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/31 | 89,051 | 85,701,169 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 03/15/28 | 183,574 | 182,065,158 |
12
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electric (cont’d.) | |||||
Keystone Power Pass-Through Holders LLC/Co.nemaugh Power Pass-Through Holders, Sub. Notes, 144A, Cash coupon 13.000% or PIK 13.000% (original cost $20,789,844; purchased 01/17/19 - 07/08/21)(f) | 13.000 % | 06/01/24 | 23,851 | $16,904,156 | |
Mirant Corp., Sr. Unsec’d. Notes, 144A^ | 0.000(cc) | 07/15/49(d) | 2,675 | 2,675 | |
NRG Energy, Inc., | |||||
Gtd. Notes | 5.750 | 01/15/28 | 33,283 | 34,853,582 | |
Gtd. Notes | 6.625 | 01/15/27 | 18,621 | 19,251,672 | |
Gtd. Notes, 144A | 3.375 | 02/15/29 | 18,401 | 17,771,774 | |
Gtd. Notes, 144A(a) | 3.625 | 02/15/31 | 29,216 | 27,767,258 | |
Gtd. Notes, 144A | 3.875 | 02/15/32 | 22,040 | 21,162,993 | |
Gtd. Notes, 144A | 5.250 | 06/15/29 | 25,216 | 26,176,170 | |
PG&E Corp., | |||||
Sr. Sec’d. Notes(a) | 5.000 | 07/01/28 | 31,210 | 32,141,034 | |
Sr. Sec’d. Notes(a) | 5.250 | 07/01/30 | 96,565 | 99,396,105 | |
Vistra Corp., Jr. Sub. Notes, 144A | 8.000(ff) | 10/15/26(oo) | 50,365 | 52,727,533 | |
Vistra Operations Co. LLC, | |||||
Gtd. Notes, 144A | 5.000 | 07/31/27 | 84,397 | 85,460,302 | |
Gtd. Notes, 144A | 5.500 | 09/01/26 | 35,237 | 36,166,889 | |
Gtd. Notes, 144A(a) | 5.625 | 02/15/27 | 89,167 | 91,587,332 | |
Sr. Unsec’d. Notes, 144A | 4.375 | 05/01/29 | 42,050 | 41,264,689 | |
971,496,233 | |||||
Electrical Components & Equipment 0.3% | |||||
Energizer Holdings, Inc., Gtd. Notes, 144A(a) | 4.375 | 03/31/29 | 15,122 | 14,354,051 | |
WESCO Distribution, Inc., | |||||
Gtd. Notes, 144A(a) | 7.125 | 06/15/25 | 26,080 | 27,561,820 | |
Gtd. Notes, 144A | 7.250 | 06/15/28 | 29,017 | 31,545,501 | |
73,461,372 | |||||
Electronics 0.3% | |||||
Brightstar Escrow Corp., Sr. Sec’d. Notes, 144A | 9.750 | 10/15/25 | 35,970 | 38,502,393 | |
Sensata Technologies BV, | |||||
Gtd. Notes, 144A(a) | 4.000 | 04/15/29 | 15,375 | 15,581,457 | |
Gtd. Notes, 144A | 4.875 | 10/15/23 | 9,193 | 9,685,462 | |
Gtd. Notes, 144A | 5.000 | 10/01/25 | 1,225 | 1,328,123 |
13
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electronics (cont’d.) | |||||
Sensata Technologies BV, (cont’d.) | |||||
Gtd. Notes, 144A | 5.625 % | 11/01/24 | 950 | $1,041,109 | |
Sensata Technologies, Inc., Gtd. Notes, 144A(a) | 3.750 | 02/15/31 | 9,200 | 9,039,900 | |
75,178,444 | |||||
Engineering & Construction 0.3% | |||||
AECOM, Gtd. Notes(a) | 5.125 | 03/15/27 | 20,442 | 21,966,984 | |
Artera Services LLC, Sr. Sec’d. Notes, 144A | 9.033 | 12/04/25 | 21,800 | 21,910,803 | |
TopBuild Corp., | |||||
Gtd. Notes, 144A | 3.625 | 03/15/29 | 17,200 | 17,132,412 | |
Gtd. Notes, 144A | 4.125 | 02/15/32 | 14,650 | 14,733,533 | |
75,743,732 | |||||
Entertainment 3.1% | |||||
AMC Entertainment Holdings, Inc., Sec’d. Notes, 144A, Cash coupon 10.000% or PIK 12.000% or Cash coupon 5.000% and PIK 6.000% | 12.000 | 06/15/26 | 17,673 | 17,956,317 | |
Caesars Entertainment, Inc., | |||||
Sr. Sec’d. Notes, 144A | 6.250 | 07/01/25 | 17,950 | 18,695,311 | |
Sr. Unsec’d. Notes, 144A(a) | 4.625 | 10/15/29 | 21,750 | 21,147,298 | |
CCM Merger, Inc., Sr. Unsec’d. Notes, 144A | 6.375 | 05/01/26 | 12,920 | 13,450,714 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Operations LLC, Gtd. Notes(a) | 6.500 | 10/01/28 | 11,206 | 11,867,953 | |
Churchill Downs, Inc., Gtd. Notes, 144A(a) | 5.500 | 04/01/27 | 14,471 | 14,898,699 | |
Everi Holdings, Inc., Gtd. Notes, 144A | 5.000 | 07/15/29 | 4,050 | 4,051,099 | |
Golden Entertainment, Inc., Sr. Unsec’d. Notes, 144A | 7.625 | 04/15/26 | 49,948 | 51,952,504 | |
International Game Technology PLC, | |||||
Sr. Sec’d. Notes, 144A | 4.125 | 04/15/26 | 7,575 | 7,739,732 | |
Sr. Sec’d. Notes, 144A(a) | 5.250 | 01/15/29 | 38,879 | 40,431,153 | |
Sr. Sec’d. Notes, 144A | 6.250 | 01/15/27 | 26,620 | 29,276,012 | |
Sr. Sec’d. Notes, 144A | 6.500 | 02/15/25 | 10,681 | 11,588,885 | |
14
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Entertainment (cont’d.) | |||||
Jacobs Entertainment, Inc., Sec’d. Notes, 144A | 7.875 % | 02/01/24 | 41,912 | $42,901,925 | |
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., Sr. Sec’d. Notes, 144A | 4.875 | 05/01/29 | 22,165 | 21,959,077 | |
Motion Bondco DAC (United Kingdom), Gtd. Notes, 144A(a) | 6.625 | 11/15/27 | 54,955 | 55,603,067 | |
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance, Inc., Sr. Unsec’d. Notes, 144A | 8.500 | 11/15/27 | 48,000 | 51,896,038 | |
Penn National Gaming, Inc., | |||||
Sr. Unsec’d. Notes, 144A(a) | 4.125 | 07/01/29 | 17,295 | 16,317,850 | |
Sr. Unsec’d. Notes, 144A(a) | 5.625 | 01/15/27 | 66,134 | 67,858,152 | |
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., | |||||
Gtd. Notes, 144A | 5.625 | 09/01/29 | 23,775 | 23,747,535 | |
Gtd. Notes, 144A | 5.875 | 09/01/31 | 33,375 | 33,478,685 | |
Scientific Games International, Inc., | |||||
Gtd. Notes | 5.500 | 02/15/26 | EUR | 11,350 | 13,147,634 |
Gtd. Notes, 144A(a) | 8.250 | 03/15/26 | 94,257 | 99,293,394 | |
Gtd. Notes, 144A | 8.625 | 07/01/25 | 37,241 | 39,731,535 | |
Sr. Sec’d. Notes, 144A | 5.000 | 10/15/25 | 6,274 | 6,455,794 | |
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., | |||||
Gtd. Notes, 144A(a) | 5.125 | 10/01/29 | 17,755 | 17,362,633 | |
Sr. Unsec’d. Notes, 144A(a) | 7.750 | 04/15/25 | 18,362 | 19,151,626 | |
751,960,622 | |||||
Environmental Control 0.2% | |||||
GFL Environmental, Inc. (Canada), | |||||
Gtd. Notes, 144A(a) | 4.000 | 08/01/28 | 8,700 | 8,422,353 | |
Gtd. Notes, 144A | 4.375 | 08/15/29 | 18,700 | 18,180,284 | |
Madison IAQ LLC, Sr. Unsec’d. Notes, 144A | 5.875 | 06/30/29 | 12,900 | 12,421,410 | |
39,024,047 | |||||
Foods 3.3% | |||||
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC, | |||||
Gtd. Notes, 144A(a) | 3.500 | 03/15/29 | 6,429 | 6,374,190 | |
Gtd. Notes, 144A(a) | 4.625 | 01/15/27 | 21,810 | 22,603,783 | |
Gtd. Notes, 144A | 5.875 | 02/15/28 | 2,500 | 2,629,495 |
15
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Foods (cont’d.) | |||||
B&G Foods, Inc., Gtd. Notes(a) | 5.250 % | 09/15/27 | 70,325 | $71,428,434 | |
C&S Group Enterprises LLC, Gtd. Notes, 144A(a) | 5.000 | 12/15/28 | 32,684 | 30,524,803 | |
Chobani LLC/Chobani Finance Corp., Inc., | |||||
Gtd. Notes, 144A | 7.500 | 04/15/25 | 13,313 | 13,762,363 | |
Sr. Sec’d. Notes, 144A | 4.625 | 11/15/28 | 19,195 | 19,490,990 | |
JBS USA Food Co., Gtd. Notes, 144A | 7.000 | 01/15/26 | 1,500 | 1,564,245 | |
JBS USA LUX SA/JBS USA Finance, Inc., Gtd. Notes, 144A | 6.750 | 02/15/28 | 27,850 | 30,028,009 | |
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., | |||||
Gtd. Notes, 144A(a) | 3.750 | 12/01/31 | 16,592 | 16,746,382 | |
Gtd. Notes, 144A(a) | 6.500 | 04/15/29 | 62,973 | 69,036,878 | |
Sr. Unsec’d. Notes, 144A(a) | 5.500 | 01/15/30 | 27,373 | 29,421,179 | |
Kraft Heinz Foods Co., | |||||
Gtd. Notes | 4.375 | 06/01/46 | 60,850 | 70,480,524 | |
Gtd. Notes | 4.625 | 10/01/39 | 950 | 1,108,946 | |
Gtd. Notes | 4.875 | 10/01/49 | 33,000 | 41,093,029 | |
Gtd. Notes(a) | 5.000 | 07/15/35 | 10,005 | 12,309,030 | |
Gtd. Notes | 5.000 | 06/04/42 | 14,175 | 17,369,465 | |
Gtd. Notes | 5.200 | 07/15/45 | 10,200 | 12,979,858 | |
Gtd. Notes(a) | 5.500 | 06/01/50 | 33,044 | 44,812,090 | |
Lamb Weston Holdings, Inc., | |||||
Gtd. Notes, 144A(a) | 4.125 | 01/31/30 | 25,925 | 25,859,310 | |
Gtd. Notes, 144A(a) | 4.375 | 01/31/32 | 24,925 | 24,832,938 | |
Pilgrim’s Pride Corp., | |||||
Gtd. Notes, 144A(a) | 3.500 | 03/01/32 | 12,900 | 13,005,501 | |
Gtd. Notes, 144A | 4.250 | 04/15/31 | 42,937 | 44,991,535 | |
Gtd. Notes, 144A(a) | 5.875 | 09/30/27 | 54,965 | 57,713,250 | |
Post Holdings, Inc., | |||||
Gtd. Notes, 144A(a) | 4.625 | 04/15/30 | 36,761 | 36,442,154 | |
Gtd. Notes, 144A | 5.500 | 12/15/29 | 23,704 | 24,559,022 | |
Gtd. Notes, 144A(a) | 5.625 | 01/15/28 | 5,426 | 5,591,192 | |
Sr. Unsec’d. Notes, 144A | 4.500 | 09/15/31 | 52,689 | 50,906,875 | |
U.S. Foods, Inc., Gtd. Notes, 144A(a) | 4.750 | 02/15/29 | 14,000 | 14,167,514 | |
811,832,984 |
16
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Gas 0.7% | |||||
AmeriGas Partners LP/AmeriGas Finance Corp., | |||||
Sr. Unsec’d. Notes | 5.500 % | 05/20/25 | 57,838 | $61,789,936 | |
Sr. Unsec’d. Notes | 5.625 | 05/20/24 | 20,195 | 21,528,632 | |
Sr. Unsec’d. Notes | 5.750 | 05/20/27 | 43,263 | 46,979,612 | |
Sr. Unsec’d. Notes | 5.875 | 08/20/26 | 37,677 | 41,016,198 | |
171,314,378 | |||||
Healthcare-Products 0.3% | |||||
Mozart Debt Merger Sub, Inc., | |||||
Sr. Sec’d. Notes, 144A | 3.875 | 04/01/29 | 40,825 | 40,317,156 | |
Sr. Unsec’d. Notes, 144A(a) | 5.250 | 10/01/29 | 41,200 | 41,175,655 | |
81,492,811 | |||||
Healthcare-Services 4.1% | |||||
Catalent Pharma Solutions, Inc., | |||||
Gtd. Notes, 144A(a) | 3.125 | 02/15/29 | 10,725 | 10,220,320 | |
Gtd. Notes, 144A | 3.500 | 04/01/30 | 18,775 | 18,238,483 | |
DaVita, Inc., | |||||
Gtd. Notes, 144A(a) | 3.750 | 02/15/31 | 75,122 | 69,740,302 | |
Gtd. Notes, 144A(a) | 4.625 | 06/01/30 | 85,485 | 84,415,999 | |
HCA, Inc., | |||||
Gtd. Notes(a) | 3.500 | 09/01/30 | 33,448 | 34,813,807 | |
Gtd. Notes(a) | 5.625 | 09/01/28 | 9,026 | 10,431,682 | |
Gtd. Notes | 5.875 | 02/01/29 | 8,782 | 10,359,460 | |
Gtd. Notes | 7.050 | 12/01/27 | 14,000 | 17,256,473 | |
Gtd. Notes | 7.500 | 12/15/23 | 10,480 | 11,656,916 | |
Gtd. Notes | 7.500 | 11/06/33 | 16,650 | 23,649,317 | |
Gtd. Notes, MTN | 7.580 | 09/15/25 | 7,101 | 8,366,568 | |
Gtd. Notes, MTN | 7.750 | 07/15/36 | 25,990 | 35,489,595 | |
Legacy LifePoint Health LLC, Sr. Sec’d. Notes, 144A | 6.750 | 04/15/25 | 15,485 | 16,083,190 | |
LifePoint Health, Inc., Gtd. Notes, 144A(a) | 5.375 | 01/15/29 | 15,636 | 15,106,067 | |
MEDNAX, Inc., Gtd. Notes, 144A(a) | 6.250 | 01/15/27 | 51,595 | 53,823,403 | |
Molina Healthcare, Inc., Sr. Unsec’d. Notes, 144A | 3.875 | 05/15/32 | 1,300 | 1,272,284 | |
Prime Healthcare Services, Inc., Sr. Sec’d. Notes, 144A | 7.250 | 11/01/25 | 51,239 | 53,954,677 |
17
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
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 | 103,749 | $108,793,914 | |
Tenet Healthcare Corp., | |||||
Gtd. Notes, 144A | 6.125 | 10/01/28 | 131,043 | 133,912,163 | |
Sec’d. Notes, 144A | 6.250 | 02/01/27 | 45,178 | 46,804,247 | |
Sr. Sec’d. Notes(a) | 4.625 | 07/15/24 | 5,227 | 5,280,359 | |
Sr. Sec’d. Notes, 144A(a) | 4.250 | 06/01/29 | 69,245 | 68,552,780 | |
Sr. Sec’d. Notes, 144A | 4.375 | 01/15/30 | 45,375 | 45,214,099 | |
Sr. Sec’d. Notes, 144A | 4.625 | 06/15/28 | 11,343 | 11,562,942 | |
Sr. Sec’d. Notes, 144A | 4.875 | 01/01/26 | 12,084 | 12,356,000 | |
Sr. Sec’d. Notes, 144A | 5.125 | 11/01/27 | 1,500 | 1,541,980 | |
Sr. Unsec’d. Notes | 6.750 | 06/15/23 | 8,664 | 9,220,007 | |
Sr. Unsec’d. Notes | 6.875 | 11/15/31 | 58,616 | 67,262,244 | |
985,379,278 | |||||
Home Builders 4.1% | |||||
Ashton Woods USA LLC/Ashton Woods Finance Co., | |||||
Sr. Unsec’d. Notes, 144A(a) | 4.625 | 08/01/29 | 15,834 | 15,657,676 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 04/01/30 | 12,944 | 12,666,406 | |
Sr. Unsec’d. Notes, 144A | 6.625 | 01/15/28 | 12,499 | 13,132,733 | |
Beazer Homes USA, Inc., | |||||
Gtd. Notes(a) | 5.875 | 10/15/27 | 40,683 | 42,500,676 | |
Gtd. Notes | 6.750 | 03/15/25 | 31,376 | 32,194,695 | |
Gtd. Notes(a) | 7.250 | 10/15/29 | 91,383 | 100,227,012 | |
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), | |||||
Gtd. Notes, 144A | 4.875 | 02/15/30 | 37,640 | 37,577,093 | |
Gtd. Notes, 144A | 6.250 | 09/15/27 | 37,618 | 39,092,006 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 06/15/29 | 21,920 | 21,793,475 | |
Century Communities, Inc., | |||||
Gtd. Notes | 6.750 | 06/01/27 | 32,688 | 34,336,523 | |
Gtd. Notes, 144A | 3.875 | 08/15/29 | 10,250 | 10,104,007 | |
Forestar Group, Inc., | |||||
Gtd. Notes, 144A | 3.850 | 05/15/26 | 17,765 | 17,596,677 | |
Gtd. Notes, 144A | 5.000 | 03/01/28 | 20,336 | 20,683,903 | |
KB Home, | |||||
Gtd. Notes(a) | 4.000 | 06/15/31 | 37,040 | 37,407,464 | |
Gtd. Notes(a) | 4.800 | 11/15/29 | 25,289 | 26,933,331 | |
Gtd. Notes | 6.875 | 06/15/27 | 22,975 | 26,853,864 | |
Gtd. Notes(a) | 7.625 | 05/15/23 | 8,400 | 8,880,054 | |
18
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Home Builders (cont’d.) | |||||
M/I Homes, Inc., Gtd. Notes | 4.950 % | 02/01/28 | 33,264 | $34,404,712 | |
Mattamy Group Corp. (Canada), | |||||
Sr. Unsec’d. Notes, 144A(a) | 4.625 | 03/01/30 | 51,883 | 51,488,090 | |
Sr. Unsec’d. Notes, 144A(a) | 5.250 | 12/15/27 | 32,931 | 34,201,644 | |
Meritage Homes Corp., | |||||
Gtd. Notes(a) | 5.125 | 06/06/27 | 16,600 | 18,200,267 | |
Gtd. Notes | 6.000 | 06/01/25 | 12,025 | 13,299,537 | |
Shea Homes LP/Shea Homes Funding Corp., | |||||
Sr. Unsec’d. Notes, 144A | 4.750 | 02/15/28 | 43,800 | 43,813,429 | |
Sr. Unsec’d. Notes, 144A | 4.750 | 04/01/29 | 13,855 | 13,786,231 | |
STL Holding Co. LLC, Sr. Unsec’d. Notes, 144A | 7.500 | 02/15/26 | 28,920 | 30,303,559 | |
Taylor Morrison Communities, Inc., | |||||
Gtd. Notes, 144A | 5.750 | 01/15/28 | 20,419 | 22,419,293 | |
Gtd. Notes, 144A | 5.875 | 06/15/27 | 41,859 | 46,374,535 | |
Gtd. Notes, 144A | 6.625 | 07/15/27 | 47,023 | 49,443,468 | |
Sr. Unsec’d. Notes, 144A(a) | 5.125 | 08/01/30 | 66,968 | 71,843,498 | |
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc., | |||||
Gtd. Notes, 144A | 5.625 | 03/01/24 | 19,327 | 20,544,268 | |
Gtd. Notes, 144A | 5.875 | 04/15/23 | 16,125 | 16,761,784 | |
Tri Pointe Homes, Inc., | |||||
Gtd. Notes | 5.250 | 06/01/27 | 2,150 | 2,306,806 | |
Gtd. Notes(a) | 5.700 | 06/15/28 | 31,051 | 33,553,768 | |
1,000,382,484 | |||||
Home Furnishings 0.1% | |||||
Tempur Sealy International, Inc., Gtd. Notes, 144A | 4.000 | 04/15/29 | 23,317 | 23,166,003 | |
Household Products/Wares 0.4% | |||||
ACCO Brands Corp., Gtd. Notes, 144A(a) | 4.250 | 03/15/29 | 37,750 | 36,966,588 | |
Central Garden & Pet Co., Gtd. Notes, 144A(a) | 4.125 | 04/30/31 | 8,450 | 8,471,125 | |
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (Canada), | |||||
Gtd. Notes, 144A(a) | 7.000 | 12/31/27 | 29,203 | 27,829,935 | |
Sr. Sec’d. Notes, 144A(a) | 5.000 | 12/31/26 | 5,450 | 5,410,298 |
19
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Household Products/Wares (cont’d.) | |||||
Spectrum Brands, Inc., | |||||
Gtd. Notes, 144A(a) | 3.875 % | 03/15/31 | 4,490 | $4,344,697 | |
Gtd. Notes, 144A | 5.000 | 10/01/29 | 4,975 | 5,246,998 | |
88,269,641 | |||||
Housewares 0.4% | |||||
Scotts Miracle-Gro Co. (The), | |||||
Gtd. Notes(a) | 4.500 | 10/15/29 | 15,154 | 15,732,663 | |
Gtd. Notes, 144A(a) | 4.000 | 04/01/31 | 31,809 | 30,950,610 | |
Gtd. Notes, 144A | 4.375 | 02/01/32 | 13,600 | 13,492,261 | |
SWF Escrow Issuer Corp., Sr. Unsec’d. Notes, 144A(a) | 6.500 | 10/01/29 | 45,050 | 43,152,652 | |
103,328,186 | |||||
Insurance 0.3% | |||||
Acrisure LLC/Acrisure Finance, Inc., Sr. Unsec’d. Notes, 144A(a) | 6.000 | 08/01/29 | 30,575 | 29,297,598 | |
AmWINS Group, Inc., Sr. Unsec’d. Notes, 144A | 4.875 | 06/30/29 | 11,350 | 11,196,063 | |
BroadStreet Partners, Inc., Sr. Unsec’d. Notes, 144A | 5.875 | 04/15/29 | 29,000 | 28,351,596 | |
68,845,257 | |||||
Internet 0.4% | |||||
Cablevision Lightpath LLC, | |||||
Sr. Sec’d. Notes, 144A(a) | 3.875 | 09/15/27 | 33,990 | 33,009,444 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 09/15/28 | 24,103 | 23,562,502 | |
Go Daddy Operating Co. LLC/GD Finance Co., Inc., Gtd. Notes, 144A | 3.500 | 03/01/29 | 17,425 | 16,608,404 | |
NortonLifeLock, Inc., Sr. Unsec’d. Notes, 144A | 5.000 | 04/15/25 | 34,320 | 34,665,393 | |
107,845,743 | |||||
Iron/Steel 0.4% | |||||
Big River Steel LLC/BRS Finance Corp., Sr. Sec’d. Notes, 144A | 6.625 | 01/31/29 | 37,720 | 40,489,268 |
20
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Iron/Steel (cont’d.) | |||||
TMS International Corp., Sr. Unsec’d. Notes, 144A | 6.250 % | 04/15/29 | 5,300 | $5,333,685 | |
United States Steel Corp., Sr. Unsec’d. Notes(a) | 6.875 | 03/01/29 | 42,650 | 44,684,316 | |
90,507,269 | |||||
Leisure Time 0.3% | |||||
NCL Corp. Ltd., | |||||
Sr. Sec’d. Notes, 144A | 10.250 | 02/01/26 | 21,033 | 24,086,479 | |
Sr. Sec’d. Notes, 144A | 12.250 | 05/15/24 | 1,621 | 1,914,465 | |
Viking Cruises Ltd., Gtd. Notes, 144A | 5.875 | 09/15/27 | 11,175 | 10,396,040 | |
Viking Ocean Cruises Ship VII Ltd., Sr. Sec’d. Notes, 144A | 5.625 | 02/15/29 | 6,525 | 6,324,163 | |
Vista Outdoor, Inc., Gtd. Notes, 144A | 4.500 | 03/15/29 | 22,043 | 22,007,273 | |
64,728,420 | |||||
Lodging 1.7% | |||||
Boyd Gaming Corp., | |||||
Gtd. Notes(a) | 4.750 | 12/01/27 | 15,307 | 15,482,949 | |
Gtd. Notes, 144A(a) | 4.750 | 06/15/31 | 14,625 | 14,560,867 | |
Gtd. Notes, 144A | 8.625 | 06/01/25 | 12,972 | 13,877,375 | |
Hilton Domestic Operating Co., Inc., | |||||
Gtd. Notes, 144A(a) | 3.625 | 02/15/32 | 52,319 | 50,804,223 | |
Gtd. Notes, 144A | 3.750 | 05/01/29 | 3,870 | 3,839,660 | |
Gtd. Notes, 144A(a) | 4.000 | 05/01/31 | 32,484 | 32,565,897 | |
Gtd. Notes, 144A | 5.375 | 05/01/25 | 3,993 | 4,135,797 | |
Gtd. Notes, 144A | 5.750 | 05/01/28 | 176 | 186,238 | |
MGM Resorts International, | |||||
Gtd. Notes(a) | 4.625 | 09/01/26 | 2,420 | 2,462,877 | |
Gtd. Notes(a) | 4.750 | 10/15/28 | 61,567 | 62,770,875 | |
Gtd. Notes(a) | 5.500 | 04/15/27 | 42,586 | 44,356,684 | |
Gtd. Notes | 6.750 | 05/01/25 | 76,654 | 79,947,979 | |
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., Sr. Sec’d. Notes, 144A(a) | 5.875 | 05/15/25 | 6,160 | 6,150,550 | |
Travel + Leisure Co., Sr. Sec’d. Notes(a) | 6.600 | 10/01/25 | 955 | 1,042,550 | |
Wynn Macau Ltd. (Macau), | |||||
Sr. Unsec’d. Notes, 144A(a) | 4.875 | 10/01/24 | 7,625 | 7,187,010 |
21
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Lodging (cont’d.) | |||||
Wynn Macau Ltd. (Macau), (cont’d.) | |||||
Sr. Unsec’d. Notes, 144A(a) | 5.125 % | 12/15/29 | 15,250 | $13,582,304 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 01/15/26 | 3,400 | 3,187,305 | |
Sr. Unsec’d. Notes, 144A(a) | 5.500 | 10/01/27 | 5,750 | 5,329,588 | |
Sr. Unsec’d. Notes, 144A(a) | 5.625 | 08/26/28 | 44,560 | 40,985,657 | |
402,456,385 | |||||
Machinery-Construction & Mining 0.1% | |||||
Terex Corp., Gtd. Notes, 144A(a) | 5.000 | 05/15/29 | 29,175 | 29,722,697 | |
Machinery-Diversified 0.4% | |||||
GrafTech Finance, Inc., Sr. Sec’d. Notes, 144A | 4.625 | 12/15/28 | 25,432 | 25,581,585 | |
Maxim Crane Works Holdings Capital LLC, Sec’d. Notes, 144A(a) | 10.125 | 08/01/24 | 44,823 | 45,992,720 | |
TK Elevator Holdco GmbH (Germany), Gtd. Notes, 144A(a) | 7.625 | 07/15/28 | 7,211 | 7,535,534 | |
TK Elevator US Newco, Inc. (Germany), Sr. Sec’d. Notes, 144A | 5.250 | 07/15/27 | 13,525 | 13,748,980 | |
92,858,819 | |||||
Media 6.4% | |||||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||
Sr. Unsec’d. Notes | 4.500 | 05/01/32 | 109,251 | 109,032,722 | |
Sr. Unsec’d. Notes, 144A | 4.250 | 02/01/31 | 107,178 | 105,756,572 | |
Sr. Unsec’d. Notes, 144A(a) | 4.250 | 01/15/34 | 49,641 | 47,768,608 | |
Sr. Unsec’d. Notes, 144A | 4.500 | 06/01/33 | 35,000 | 34,490,183 | |
Sr. Unsec’d. Notes, 144A(a) | 4.750 | 03/01/30 | 15,350 | 15,740,275 | |
Sr. Unsec’d. Notes, 144A(a) | 5.000 | 02/01/28 | 27,600 | 28,415,357 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 05/01/27 | 27,594 | 28,426,652 | |
Sr. Unsec’d. Notes, 144A | 5.375 | 06/01/29 | 23,956 | 25,363,510 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 05/01/26 | 39,039 | 40,272,994 | |
CSC Holdings LLC, | |||||
Gtd. Notes, 144A(a) | 3.375 | 02/15/31 | 27,213 | 24,918,457 | |
Gtd. Notes, 144A(a) | 4.125 | 12/01/30 | 21,175 | 20,267,008 | |
Gtd. Notes, 144A(a) | 4.500 | 11/15/31 | 8,756 | 8,471,178 | |
Gtd. Notes, 144A(a) | 5.375 | 02/01/28 | 15,356 | 15,782,595 | |
Gtd. Notes, 144A(a) | 5.500 | 04/15/27 | 26,535 | 27,265,403 | |
Gtd. Notes, 144A(a) | 6.500 | 02/01/29 | 2,700 | 2,855,813 | |
Sr. Unsec’d. Notes(a) | 5.250 | 06/01/24 | 8,000 | 8,314,562 |
22
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Media (cont’d.) | |||||
CSC Holdings LLC, (cont’d.) | |||||
Sr. Unsec’d. Notes, 144A(a) | 4.625 % | 12/01/30 | 125,820 | $117,002,380 | |
Sr. Unsec’d. Notes, 144A(a) | 5.000 | 11/15/31 | 30,115 | 28,224,957 | |
Sr. Unsec’d. Notes, 144A(a) | 5.750 | 01/15/30 | 20,682 | 20,276,187 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 04/01/28 | 18,737 | 19,933,587 | |
Diamond Sports Group LLC/Diamond Sports Finance Co., | |||||
Gtd. Notes, 144A | 6.625 | 08/15/27 | 258,736 | 54,466,026 | |
Sr. Sec’d. Notes, 144A(a) | 5.375 | 08/15/26 | 92,131 | 40,757,208 | |
DISH DBS Corp., | |||||
Gtd. Notes | 5.000 | 03/15/23 | 15,655 | 15,901,823 | |
Gtd. Notes(a) | 5.125 | 06/01/29 | 45,955 | 40,395,059 | |
Gtd. Notes | 5.875 | 07/15/22 | 8,128 | 8,240,356 | |
Gtd. Notes | 5.875 | 11/15/24 | 4,975 | 5,042,659 | |
Gtd. Notes(a) | 7.375 | 07/01/28 | 12,040 | 11,784,155 | |
Gtd. Notes(a) | 7.750 | 07/01/26 | 180,096 | 185,077,659 | |
Gray Television, Inc., | |||||
Gtd. Notes, 144A(a) | 5.875 | 07/15/26 | 47,204 | 48,615,965 | |
Gtd. Notes, 144A(a) | 7.000 | 05/15/27 | 2,784 | 2,956,040 | |
iHeartCommunications, Inc., Sr. Sec’d. Notes | 6.375 | 05/01/26 | 14,955 | 15,525,150 | |
Midcontinent Communications/Midcontinent Finance Corp., Gtd. Notes, 144A | 5.375 | 08/15/27 | 7,675 | 7,903,927 | |
News Corp., Sr. Unsec’d. Notes, 144A | 3.875 | 05/15/29 | 18,225 | 17,942,602 | |
Nexstar Media, Inc., | |||||
Gtd. Notes, 144A(a) | 4.750 | 11/01/28 | 22,925 | 22,905,491 | |
Gtd. Notes, 144A(a) | 5.625 | 07/15/27 | 10,975 | 11,389,991 | |
Radiate Holdco LLC/Radiate Finance, Inc., | |||||
Sr. Sec’d. Notes, 144A(a) | 4.500 | 09/15/26 | 33,977 | 33,780,439 | |
Sr. Unsec’d. Notes, 144A | 6.500 | 09/15/28 | 39,465 | 38,278,823 | |
Scripps Escrow II, Inc., | |||||
Sr. Sec’d. Notes, 144A(a) | 3.875 | 01/15/29 | 11,000 | 10,936,328 | |
Sr. Unsec’d. Notes, 144A(a) | 5.375 | 01/15/31 | 24,261 | 24,382,827 | |
Scripps Escrow, Inc., Gtd. Notes, 144A(a) | 5.875 | 07/15/27 | 11,416 | 11,644,929 | |
Sinclair Television Group, Inc., | |||||
Gtd. Notes, 144A(a) | 5.125 | 02/15/27 | 28,766 | 26,667,398 | |
Gtd. Notes, 144A | 5.875 | 03/15/26 | 28,864 | 28,985,539 | |
Univision Communications, Inc., | |||||
Sr. Sec’d. Notes, 144A(a) | 4.500 | 05/01/29 | 26,882 | 26,904,086 |
23
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Media (cont’d.) | |||||
Univision Communications, Inc., (cont’d.) | |||||
Sr. Sec’d. Notes, 144A(a) | 5.125 % | 02/15/25 | 32,730 | $33,224,016 | |
Sr. Sec’d. Notes, 144A | 6.625 | 06/01/27 | 92,131 | 98,396,317 | |
1,550,683,813 | |||||
Metal Fabricate/Hardware 0.1% | |||||
Roller Bearing Co. of America, Inc., Sr. Unsec’d. Notes, 144A(a) | 4.375 | 10/15/29 | 18,025 | 17,996,149 | |
Mining 2.5% | |||||
Constellium SE, | |||||
Gtd. Notes, 144A(a) | 3.750 | 04/15/29 | 1,000 | 947,552 | |
Gtd. Notes, 144A(a) | 5.875 | 02/15/26 | 22,190 | 22,521,381 | |
Eldorado Gold Corp. (Turkey), Sr. Unsec’d. Notes, 144A(a) | 6.250 | 09/01/29 | 51,625 | 51,935,392 | |
First Quantum Minerals Ltd. (Zambia), | |||||
Gtd. Notes, 144A | 6.500 | 03/01/24 | 81,201 | 82,314,678 | |
Gtd. Notes, 144A(a) | 6.875 | 03/01/26 | 21,965 | 22,811,225 | |
Gtd. Notes, 144A(a) | 6.875 | 10/15/27 | 34,095 | 36,040,805 | |
Gtd. Notes, 144A(a) | 7.250 | 04/01/23 | 72,666 | 73,746,430 | |
Gtd. Notes, 144A | 7.500 | 04/01/25 | 31,636 | 32,491,974 | |
Freeport-McMoRan, Inc., | |||||
Gtd. Notes | 4.375 | 08/01/28 | 29,850 | 30,850,380 | |
Gtd. Notes | 4.550 | 11/14/24 | 31,518 | 33,732,073 | |
Gtd. Notes(a) | 4.625 | 08/01/30 | 11,013 | 11,632,133 | |
Hecla Mining Co., Gtd. Notes | 7.250 | 02/15/28 | 22,390 | 24,040,163 | |
Hudbay Minerals, Inc. (Canada), | |||||
Gtd. Notes, 144A(a) | 4.500 | 04/01/26 | 13,025 | 12,802,523 | |
Gtd. Notes, 144A(a) | 6.125 | 04/01/29 | 37,970 | 39,539,151 | |
IAMGOLD Corp. (Burkina Faso), Gtd. Notes, 144A(a) | 5.750 | 10/15/28 | 23,150 | 22,321,709 | |
New Gold, Inc. (Canada), | |||||
Gtd. Notes, 144A(a) | 6.375 | 05/15/25 | 25,734 | 26,300,512 | |
Gtd. Notes, 144A(a) | 7.500 | 07/15/27 | 49,419 | 51,701,752 | |
Novelis Corp., | |||||
Gtd. Notes, 144A | 3.250 | 11/15/26 | 2,437 | 2,434,152 | |
Gtd. Notes, 144A | 3.875 | 08/15/31 | 5,098 | 4,934,981 | |
Gtd. Notes, 144A(a) | 4.750 | 01/30/30 | 25,154 | 25,397,647 | |
608,496,613 |
24
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Miscellaneous Manufacturing 0.1% | |||||
Amsted Industries, Inc., | |||||
Gtd. Notes, 144A | 5.625 % | 07/01/27 | 9,075 | $9,388,445 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 05/15/30 | 25,167 | 25,537,090 | |
34,925,535 | |||||
Office/Business Equipment 0.1% | |||||
CDW LLC/CDW Finance Corp., | |||||
Gtd. Notes | 3.250 | 02/15/29 | 13,310 | 13,293,633 | |
Gtd. Notes | 4.125 | 05/01/25 | 17,650 | 18,127,594 | |
31,421,227 | |||||
Oil & Gas 6.9% | |||||
Aethon United BR LP/Aethon United Finance Corp., Sr. Unsec’d. Notes, 144A | 8.250 | 02/15/26 | 31,275 | 33,007,831 | |
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., Sr. Unsec’d. Notes^ | 7.875 | 12/15/24(d) | 104,709 | 712,021 | |
Antero Resources Corp., | |||||
Gtd. Notes | 5.000 | 03/01/25 | 55,144 | 55,572,606 | |
Gtd. Notes, 144A(a) | 5.375 | 03/01/30 | 37,225 | 38,528,222 | |
Gtd. Notes, 144A | 7.625 | 02/01/29 | 33,477 | 36,723,939 | |
Gtd. Notes, 144A | 8.375 | 07/15/26 | 6,846 | 7,589,110 | |
Apache Corp., | |||||
Sr. Unsec’d. Notes | 5.100 | 09/01/40 | 29,850 | 32,427,278 | |
Sr. Unsec’d. Notes | 5.250 | 02/01/42 | 2,225 | 2,493,618 | |
Sr. Unsec’d. Notes | 5.350 | 07/01/49 | 2,750 | 3,128,601 | |
Sr. Unsec’d. Notes(a) | 7.750 | 12/15/29 | 16,218 | 20,432,576 | |
Ascent Resources Utica Holdings LLC/ARU Finance Corp., | |||||
Gtd. Notes, 144A | 7.000 | 11/01/26 | 23,103 | 23,404,826 | |
Gtd. Notes, 144A | 9.000 | 11/01/27 | 30,497 | 41,205,837 | |
Sr. Unsec’d. Notes, 144A | 8.250 | 12/31/28 | 12,735 | 13,499,142 | |
Athabasca Oil Corp. (Canada), Sec’d. Notes, 144A | 9.750 | 11/01/26 | 70,725 | 70,168,891 | |
Chesapeake Energy Corp., | |||||
Gtd. Notes, 144A | 5.500 | 02/01/26 | 12,425 | 12,896,191 | |
Gtd. Notes, 144A(a) | 5.875 | 02/01/29 | 12,775 | 13,544,759 | |
Citgo Holding, Inc., Sr. Sec’d. Notes, 144A(a) | 9.250 | 08/01/24 | 53,315 | 51,985,111 | |
CITGO Petroleum Corp., Sr. Sec’d. Notes, 144A | 7.000 | 06/15/25 | 58,830 | 59,412,310 |
25
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
CNX Resources Corp., Gtd. Notes, 144A | 7.250 % | 03/14/27 | 57,813 | $61,087,689 | |
Comstock Resources, Inc., | |||||
Gtd. Notes, 144A(a) | 5.875 | 01/15/30 | 18,625 | 18,684,519 | |
Gtd. Notes, 144A(a) | 6.750 | 03/01/29 | 32,042 | 33,324,067 | |
Continental Resources, Inc., Gtd. Notes(a) | 4.900 | 06/01/44 | 5,615 | 6,232,323 | |
CrownRock LP/CrownRock Finance, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 5.000 | 05/01/29 | 7,850 | 7,896,411 | |
Sr. Unsec’d. Notes, 144A(a) | 5.625 | 10/15/25 | 7,487 | 7,534,463 | |
Devon Energy Corp., | |||||
Sr. Unsec’d. Notes, 144A | 5.250 | 10/15/27 | 11,318 | 11,967,648 | |
Sr. Unsec’d. Notes, 144A | 5.875 | 06/15/28 | 115 | 125,261 | |
Endeavor Energy Resources LP/EER Finance, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 5.750 | 01/30/28 | 43,109 | 44,856,668 | |
Sr. Unsec’d. Notes, 144A(a) | 6.625 | 07/15/25 | 26,034 | 27,360,956 | |
EQT Corp., | |||||
Sr. Unsec’d. Notes(a) | 3.900 | 10/01/27 | 52,718 | 55,014,349 | |
Sr. Unsec’d. Notes(a) | 5.000 | 01/15/29 | 14,250 | 15,646,684 | |
Sr. Unsec’d. Notes(a) | 7.500 | 02/01/30 | 33,949 | 42,879,261 | |
Hilcorp Energy I LP/Hilcorp Finance Co., | |||||
Sr. Unsec’d. Notes, 144A | 5.750 | 02/01/29 | 26,840 | 26,408,757 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 02/01/31 | 8,200 | 8,173,208 | |
Sr. Unsec’d. Notes, 144A | 6.250 | 11/01/28 | 45,673 | 46,551,825 | |
MEG Energy Corp. (Canada), | |||||
Gtd. Notes, 144A(a) | 5.875 | 02/01/29 | 32,425 | 32,260,683 | |
Gtd. Notes, 144A(a) | 7.125 | 02/01/27 | 49,684 | 51,208,613 | |
Sec’d. Notes, 144A | 6.500 | 01/15/25 | 3,945 | 4,012,294 | |
Nabors Industries Ltd., | |||||
Gtd. Notes, 144A | 7.250 | 01/15/26 | 26,955 | 23,190,107 | |
Gtd. Notes, 144A(a) | 7.500 | 01/15/28 | 66,885 | 56,850,215 | |
Nabors Industries, Inc., | |||||
Gtd. Notes | 5.750 | 02/01/25 | 50,195 | 42,005,630 | |
Gtd. Notes, 144A(a) | 7.375 | 05/15/27 | 1,775 | 1,735,163 | |
Occidental Petroleum Corp., | |||||
Sr. Unsec’d. Notes | 3.000 | 02/15/27 | 17,625 | 17,054,808 | |
Sr. Unsec’d. Notes | 4.100 | 02/15/47 | 4,413 | 4,214,311 | |
Sr. Unsec’d. Notes | 4.400 | 04/15/46 | 7,985 | 7,869,786 | |
Sr. Unsec’d. Notes | 4.500 | 07/15/44 | 1,975 | 1,974,886 | |
Sr. Unsec’d. Notes | 4.625 | 06/15/45 | 3,025 | 3,065,992 | |
Sr. Unsec’d. Notes | 5.500 | 12/01/25 | 1,525 | 1,633,952 | |
Sr. Unsec’d. Notes | 5.550 | 03/15/26 | 13,330 | 14,265,996 |
26
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
Occidental Petroleum Corp., (cont’d.) | |||||
Sr. Unsec’d. Notes(a) | 5.875 % | 09/01/25 | 800 | $860,152 | |
Sr. Unsec’d. Notes(a) | 6.125 | 01/01/31 | 16,250 | 18,963,622 | |
Sr. Unsec’d. Notes | 6.200 | 03/15/40 | 1,771 | 2,099,972 | |
Sr. Unsec’d. Notes | 6.450 | 09/15/36 | 2,000 | 2,482,930 | |
Sr. Unsec’d. Notes(a) | 6.625 | 09/01/30 | 17,608 | 21,120,156 | |
Sr. Unsec’d. Notes | 6.950 | 07/01/24 | 875 | 960,282 | |
Sr. Unsec’d. Notes | 7.125 | 10/15/27 | 1,230 | 1,387,668 | |
Sr. Unsec’d. Notes | 7.150 | 05/15/28 | 22,392 | 25,926,641 | |
Sr. Unsec’d. Notes | 7.200 | 04/01/28 | 2,400 | 2,730,901 | |
Sr. Unsec’d. Notes | 7.200 | 03/15/29 | 2,882 | 3,316,270 | |
Sr. Unsec’d. Notes | 7.875 | 09/15/31 | 1,200 | 1,560,004 | |
Sr. Unsec’d. Notes | 7.950 | 04/15/29 | 9,025 | 10,694,805 | |
Sr. Unsec’d. Notes | 7.950 | 06/15/39 | 8,600 | 11,201,429 | |
Sr. Unsec’d. Notes(a) | 8.500 | 07/15/27 | 1,000 | 1,212,990 | |
Sr. Unsec’d. Notes | 8.875 | 07/15/30 | 4,650 | 6,106,519 | |
Ovintiv, Inc., | |||||
Gtd. Notes(a) | 6.500 | 08/15/34 | 17,441 | 22,254,283 | |
Gtd. Notes | 6.500 | 02/01/38 | 9,573 | 12,165,297 | |
Parkland Corp. (Canada), | |||||
Gtd. Notes, 144A(a) | 4.500 | 10/01/29 | 21,100 | 20,726,358 | |
Gtd. Notes, 144A | 4.625 | 05/01/30 | 21,475 | 21,179,186 | |
Precision Drilling Corp. (Canada), | |||||
Gtd. Notes, 144A(a) | 6.875 | 01/15/29 | 8,275 | 8,051,461 | |
Gtd. Notes, 144A(a) | 7.125 | 01/15/26 | 29,218 | 29,365,591 | |
Range Resources Corp., | |||||
Gtd. Notes | 4.875 | 05/15/25 | 48,980 | 50,041,135 | |
Gtd. Notes | 5.000 | 03/15/23 | 1,917 | 1,944,894 | |
Gtd. Notes | 9.250 | 02/01/26 | 4,526 | 4,867,489 | |
Southwestern Energy Co., | |||||
Gtd. Notes(a) | 5.375 | 02/01/29 | 5,625 | 5,860,565 | |
Gtd. Notes(a) | 5.375 | 03/15/30 | 64,275 | 66,926,166 | |
Sunoco LP/Sunoco Finance Corp., | |||||
Gtd. Notes | 4.500 | 05/15/29 | 22,249 | 21,964,486 | |
Gtd. Notes(a) | 5.875 | 03/15/28 | 3,936 | 4,107,879 | |
Gtd. Notes(a) | 6.000 | 04/15/27 | 3,496 | 3,623,766 | |
Gtd. Notes, 144A(a) | 4.500 | 04/30/30 | 29,625 | 29,314,471 | |
Transocean, Inc., | |||||
Gtd. Notes, 144A(a) | 7.250 | 11/01/25 | 35,103 | 25,692,839 | |
Gtd. Notes, 144A | 7.500 | 01/15/26 | 15,083 | 10,612,343 | |
Gtd. Notes, 144A(a) | 8.000 | 02/01/27 | 13,220 | 9,055,035 | |
Gtd. Notes, 144A | 11.500 | 01/30/27 | 3,550 | 3,342,386 |
27
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
Vine Energy Holdings LLC, Gtd. Notes, 144A | 6.750 % | 04/15/29 | 30,884 | $32,895,215 | |
1,686,434,580 | |||||
Packaging & Containers 1.2% | |||||
ARD Finance SA (Luxembourg), Sr. Sec’d. Notes, 144A, Cash coupon 6.500% or PIK 7.250% | 6.500 | 06/30/27 | 55,945 | 57,344,316 | |
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., | |||||
Sr. Sec’d. Notes, 144A(a) | 4.125 | 08/15/26 | 12,475 | 12,607,271 | |
Sr. Unsec’d. Notes, 144A(a) | 5.250 | 08/15/27 | 27,745 | 27,270,566 | |
Graham Packaging Co., Inc., Gtd. Notes, 144A | 7.125 | 08/15/28 | 28,145 | 28,700,770 | |
Intelligent Packaging Holdco Issuer LP (Canada), Sr. Unsec’d. Notes, 144A, Cash coupon 9.000% or PIK 9.750% | 9.000 | 01/15/26 | 18,475 | 19,206,035 | |
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada), Sr. Sec’d. Notes, 144A | 6.000 | 09/15/28 | 20,991 | 21,274,938 | |
LABL, Inc., | |||||
Sr. Sec’d. Notes, 144A | 5.875 | 11/01/28 | 14,900 | 14,735,901 | |
Sr. Unsec’d. Notes, 144A(a) | 8.250 | 11/01/29 | 16,625 | 15,875,557 | |
OI European Group BV, Gtd. Notes, 144A(a) | 4.750 | 02/15/30 | 13,725 | 13,713,308 | |
Owens-Brockway Glass Container, Inc., | |||||
Gtd. Notes, 144A(a) | 6.375 | 08/15/25 | 4,236 | 4,564,165 | |
Gtd. Notes, 144A(a) | 6.625 | 05/13/27 | 37,157 | 38,935,099 | |
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc., Sr. Sec’d. Notes, 144A(a) | 4.375 | 10/15/28 | 21,350 | 20,748,369 | |
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC/Reynolds Group Issuer LLC, Sr. Sec’d. Notes, 144A(a) | 4.000 | 10/15/27 | 2,650 | 2,545,484 | |
TriMas Corp., Gtd. Notes, 144A | 4.125 | 04/15/29 | 14,100 | 14,212,845 | |
291,734,624 |
28
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pharmaceuticals 2.7% | |||||
AdaptHealth LLC, | |||||
Gtd. Notes, 144A(a) | 4.625 % | 08/01/29 | 43,493 | $42,648,535 | |
Gtd. Notes, 144A | 5.125 | 03/01/30 | 16,900 | 16,753,887 | |
Gtd. Notes, 144A(a) | 6.125 | 08/01/28 | 21,478 | 22,691,489 | |
Bausch Health Americas, Inc., Gtd. Notes, 144A | 8.500 | 01/31/27 | 12,823 | 13,225,691 | |
Bausch Health Cos., Inc., | |||||
Gtd. Notes, 144A | 5.000 | 01/30/28 | 39,122 | 34,737,500 | |
Gtd. Notes, 144A | 5.000 | 02/15/29 | 57,861 | 49,619,887 | |
Gtd. Notes, 144A(a) | 5.250 | 01/30/30 | 96,833 | 83,276,380 | |
Gtd. Notes, 144A(a) | 5.250 | 02/15/31 | 41,558 | 35,715,223 | |
Gtd. Notes, 144A | 6.125 | 04/15/25 | 23,465 | 23,768,236 | |
Gtd. Notes, 144A | 6.250 | 02/15/29 | 175,024 | 158,839,665 | |
Gtd. Notes, 144A(a) | 7.000 | 01/15/28 | 31,008 | 29,946,235 | |
Gtd. Notes, 144A(a) | 7.250 | 05/30/29 | 8,896 | 8,358,676 | |
Sr. Sec’d. Notes, 144A | 4.875 | 06/01/28 | 4,474 | 4,410,290 | |
Endo Dac/Endo Finance LLC/Endo Finco, Inc., Gtd. Notes, 144A(a) | 6.000 | 06/30/28 | 16,648 | 12,514,747 | |
Endo Luxembourg Finance Co. I Sarl/Endo US, Inc., Sr. Sec’d. Notes, 144A | 6.125 | 04/01/29 | 15,100 | 14,781,770 | |
Jazz Securities DAC, Sr. Sec’d. Notes, 144A(a) | 4.375 | 01/15/29 | 22,175 | 22,613,903 | |
Organon & Co./Organon Foreign Debt Co-Issuer BV, | |||||
Sr. Sec’d. Notes, 144A | 4.125 | 04/30/28 | 1,156 | 1,154,355 | |
Sr. Unsec’d. Notes, 144A(a) | 5.125 | 04/30/31 | 26,623 | 27,173,392 | |
P&L Development LLC/PLD Finance Corp., Sr. Sec’d. Notes, 144A | 7.750 | 11/15/25 | 40,567 | 41,130,196 | |
Prestige Brands, Inc., Gtd. Notes, 144A(a) | 3.750 | 04/01/31 | 21,698 | 20,786,988 | |
664,147,045 | |||||
Pipelines 3.3% | |||||
Antero Midstream Partners LP/Antero Midstream Finance Corp., | |||||
Gtd. Notes, 144A | 5.375 | 06/15/29 | 30,975 | 31,446,802 | |
Gtd. Notes, 144A | 5.750 | 03/01/27 | 36,390 | 36,634,157 | |
Gtd. Notes, 144A(a) | 5.750 | 01/15/28 | 41,253 | 42,370,082 | |
Gtd. Notes, 144A | 7.875 | 05/15/26 | 8,470 | 9,113,119 | |
Cheniere Energy Partners LP, Gtd. Notes, 144A(a) | 4.000 | 03/01/31 | 39,175 | 40,278,211 |
29
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pipelines (cont’d.) | |||||
Cheniere Energy, Inc., Sr. Sec’d. Notes | 4.625 % | 10/15/28 | 95,572 | $98,460,999 | |
CNX Midstream Partners LP, Gtd. Notes, 144A | 4.750 | 04/15/30 | 6,950 | 6,881,665 | |
DCP Midstream Operating LP, | |||||
Gtd. Notes | 5.125 | 05/15/29 | 10,361 | 11,503,071 | |
Gtd. Notes | 5.625 | 07/15/27 | 15,410 | 17,244,114 | |
Gtd. Notes, 144A | 6.450 | 11/03/36 | 3,455 | 4,406,689 | |
Energy Transfer LP, Jr. Sub. Notes, Series G | 7.125(ff) | 05/15/30(oo) | 17,825 | 18,243,030 | |
EQM Midstream Partners LP, | |||||
Sr. Unsec’d. Notes | 4.125 | 12/01/26 | 50 | 49,959 | |
Sr. Unsec’d. Notes | 4.750 | 07/15/23 | 3,494 | 3,624,127 | |
Sr. Unsec’d. Notes | 5.500 | 07/15/28 | 2,300 | 2,445,017 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 07/01/25 | 10,370 | 11,023,784 | |
Sr. Unsec’d. Notes, 144A | 6.500 | 07/01/27 | 26,949 | 29,113,181 | |
Global Partners LP/GLP Finance Corp., | |||||
Gtd. Notes | 6.875 | 01/15/29 | 16,086 | 16,487,078 | |
Gtd. Notes(a) | 7.000 | 08/01/27 | 14,055 | 14,473,981 | |
Rockies Express Pipeline LLC, | |||||
Sr. Unsec’d. Notes, 144A | 3.600 | 05/15/25 | 5,500 | 5,634,070 | |
Sr. Unsec’d. Notes, 144A | 6.875 | 04/15/40 | 50,698 | 57,062,436 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 07/15/38 | 7,842 | 8,821,762 | |
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., | |||||
Gtd. Notes, 144A | 5.500 | 01/15/28 | 58,292 | 57,269,186 | |
Gtd. Notes, 144A | 6.000 | 03/01/27 | 14,884 | 15,306,439 | |
Gtd. Notes, 144A | 6.000 | 12/31/30 | 26,692 | 26,397,739 | |
Gtd. Notes, 144A | 7.500 | 10/01/25 | 7,347 | 7,870,230 | |
Targa Resources Partners LP/Targa Resources Partners Finance Corp., | |||||
Gtd. Notes(a) | 4.875 | 02/01/31 | 16,739 | 17,980,192 | |
Gtd. Notes(a) | 5.000 | 01/15/28 | 9,690 | 10,025,843 | |
Gtd. Notes(a) | 5.375 | 02/01/27 | 14,012 | 14,372,219 | |
Gtd. Notes | 5.500 | 03/01/30 | 12,740 | 13,830,551 | |
Gtd. Notes(a) | 5.875 | 04/15/26 | 9,600 | 9,950,301 | |
Gtd. Notes | 6.500 | 07/15/27 | 12,740 | 13,562,937 | |
Gtd. Notes | 6.875 | 01/15/29 | 1,250 | 1,378,838 | |
Venture Global Calcasieu Pass LLC, | |||||
Sr. Sec’d. Notes, 144A | 3.875 | 08/15/29 | 20,685 | 20,805,454 | |
Sr. Sec’d. Notes, 144A | 4.125 | 08/15/31 | 12,010 | 12,293,641 |
30
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pipelines (cont’d.) | |||||
Western Midstream Operating LP, | |||||
Sr. Unsec’d. Notes | 3.950 % | 06/01/25 | 29,329 | $30,359,938 | |
Sr. Unsec’d. Notes | 4.000 | 07/01/22 | 2,366 | 2,379,557 | |
Sr. Unsec’d. Notes | 4.350 | 02/01/25 | 13,120 | 13,572,706 | |
Sr. Unsec’d. Notes | 4.500 | 03/01/28 | 325 | 349,365 | |
Sr. Unsec’d. Notes(a) | 5.300 | 02/01/30 | 42,494 | 45,765,665 | |
Sr. Unsec’d. Notes | 5.450 | 04/01/44 | 3,070 | 3,549,155 | |
Sr. Unsec’d. Notes | 5.500 | 08/15/48 | 7,755 | 9,047,141 | |
Sr. Unsec’d. Notes | 6.500 | 02/01/50 | 10,200 | 11,670,882 | |
803,055,313 | |||||
Real Estate 1.0% | |||||
Five Point Operating Co. LP/Five Point Capital Corp., Gtd. Notes, 144A | 7.875 | 11/15/25 | 68,594 | 71,181,804 | |
Greystar Real Estate Partners LLC, Sr. Sec’d. Notes, 144A | 5.750 | 12/01/25 | 39,691 | 40,338,161 | |
Howard Hughes Corp. (The), | |||||
Gtd. Notes, 144A | 4.125 | 02/01/29 | 29,925 | 29,570,138 | |
Gtd. Notes, 144A | 4.375 | 02/01/31 | 23,575 | 23,300,999 | |
Gtd. Notes, 144A(a) | 5.375 | 08/01/28 | 23,460 | 24,503,612 | |
Hunt Cos., Inc., Sr. Sec’d. Notes, 144A | 5.250 | 04/15/29 | 59,975 | 58,356,335 | |
247,251,049 | |||||
Real Estate Investment Trusts (REITs) 2.9% | |||||
Diversified Healthcare Trust, | |||||
Gtd. Notes(a) | 4.375 | 03/01/31 | 43,998 | 41,129,204 | |
Gtd. Notes | 9.750 | 06/15/25 | 74,924 | 80,902,697 | |
Sr. Unsec’d. Notes(a) | 4.750 | 05/01/24 | 6,959 | 7,143,010 | |
Sr. Unsec’d. Notes(a) | 4.750 | 02/15/28 | 49,604 | 46,946,040 | |
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., | |||||
Gtd. Notes | 4.500 | 09/01/26 | 7,250 | 7,765,175 | |
Gtd. Notes | 4.500 | 01/15/28 | 20,579 | 22,195,827 | |
Gtd. Notes | 5.625 | 05/01/24 | 601 | 644,040 | |
Gtd. Notes, 144A | 4.625 | 06/15/25 | 6,195 | 6,588,292 | |
MPT Operating Partnership LP/MPT Finance Corp., | |||||
Gtd. Notes(a) | 3.500 | 03/15/31 | 42,225 | 41,892,864 | |
Gtd. Notes(a) | 5.000 | 10/15/27 | 22,638 | 23,673,733 |
31
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
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 | 5.875 % | 10/01/28 | 20,994 | $21,705,453 | |
Sr. Sec’d. Notes, 144A | 7.500 | 06/01/25 | 67,840 | 71,620,142 | |
RHP Hotel Properties LP/RHP Finance Corp., Gtd. Notes, 144A(a) | 4.500 | 02/15/29 | 10,650 | 10,371,998 | |
Sabra Health Care LP, Gtd. Notes | 5.125 | 08/15/26 | 6,308 | 6,996,633 | |
SBA Communications Corp., | |||||
Sr. Unsec’d. Notes(a) | 3.875 | 02/15/27 | 20,480 | 20,983,447 | |
Sr. Unsec’d. Notes, 144A | 3.125 | 02/01/29 | 13,690 | 13,001,895 | |
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, | |||||
Gtd. Notes, 144A | 7.125 | 12/15/24 | 19,165 | 19,537,621 | |
Sr. Sec’d. Notes, 144A | 7.875 | 02/15/25 | 136,793 | 143,132,962 | |
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, Sr. Sec’d. Notes, 144A(a) | 4.750 | 04/15/28 | 35,430 | 34,538,705 | |
VICI Properties LP/VICI Note Co., Inc., | |||||
Gtd. Notes, 144A(a) | 3.500 | 02/15/25 | 1,240 | 1,256,110 | |
Gtd. Notes, 144A(a) | 3.750 | 02/15/27 | 5,044 | 5,168,643 | |
Gtd. Notes, 144A(a) | 4.125 | 08/15/30 | 1,150 | 1,201,755 | |
Gtd. Notes, 144A(a) | 4.250 | 12/01/26 | 27,572 | 28,468,527 | |
Gtd. Notes, 144A | 4.625 | 12/01/29 | 42,640 | 45,379,649 | |
702,244,422 | |||||
Retail 3.1% | |||||
1011778 BC ULC/New Red Finance, Inc. (Canada), | |||||
Sec’d. Notes, 144A | 4.000 | 10/15/30 | 106,543 | 101,890,185 | |
Sr. Sec’d. Notes, 144A | 3.500 | 02/15/29 | 1,375 | 1,321,499 | |
Sr. Sec’d. Notes, 144A | 3.875 | 01/15/28 | 15,700 | 15,488,250 | |
Ambience Merger Sub, Inc., | |||||
Gtd. Notes, 144A(a) | 7.125 | 07/15/29 | 42,932 | 41,669,179 | |
Sr. Sec’d. Notes, 144A | 4.875 | 07/15/28 | 5,150 | 5,086,821 | |
Brinker International, Inc., | |||||
Gtd. Notes, 144A | 5.000 | 10/01/24 | 25,021 | 26,450,542 | |
Sr. Unsec’d. Notes(a) | 3.875 | 05/15/23 | 18,240 | 18,738,931 | |
Carrols Restaurant Group, Inc., Gtd. Notes, 144A(a) | 5.875 | 07/01/29 | 36,550 | 31,444,382 | |
eG Global Finance PLC (United Kingdom), Sr. Sec’d. Notes, 144A(a) | 8.500 | 10/30/25 | 25,675 | 26,587,660 |
32
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Retail (cont’d.) | |||||
Foundation Building Materials, Inc., Gtd. Notes, 144A(a) | 6.000 % | 03/01/29 | 32,760 | $31,352,521 | |
Gap, Inc. (The), | |||||
Gtd. Notes, 144A(a) | 3.625 | 10/01/29 | 6,600 | 6,323,433 | |
Gtd. Notes, 144A(a) | 3.875 | 10/01/31 | 30,495 | 29,226,767 | |
Golden Nugget, Inc., Sr. Unsec’d. Notes, 144A(a) | 6.750 | 10/15/24 | 58,110 | 58,128,862 | |
LBM Acquisition LLC, Gtd. Notes, 144A | 6.250 | 01/15/29 | 30,665 | 29,369,220 | |
LCM Investments Holdings II LLC, Sr. Unsec’d. Notes, 144A | 4.875 | 05/01/29 | 21,575 | 21,570,742 | |
Park River Holdings, Inc., Gtd. Notes, 144A | 5.625 | 02/01/29 | 72,335 | 68,545,605 | |
Sally Holdings LLC/Sally Capital, Inc., | |||||
Gtd. Notes | 5.625 | 12/01/25 | 60,970 | 62,163,457 | |
Sec’d. Notes, 144A | 8.750 | 04/30/25 | 21,264 | 22,747,298 | |
SRS Distribution, Inc., Gtd. Notes, 144A | 6.000 | 12/01/29 | 23,250 | 23,007,115 | |
Suburban Propane Partners LP/Suburban Energy Finance Corp., | |||||
Sr. Unsec’d. Notes(a) | 5.875 | 03/01/27 | 44,787 | 46,242,602 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 06/01/31 | 18,933 | 18,699,565 | |
Superior Plus LP/Superior General Partner, Inc. (Canada), Gtd. Notes, 144A | 4.500 | 03/15/29 | 22,965 | 23,394,567 | |
White Cap Buyer LLC, Sr. Unsec’d. Notes, 144A(a) | 6.875 | 10/15/28 | 26,975 | 27,627,496 | |
White Cap Parent LLC, Sr. Unsec’d. Notes, 144A, Cash coupon 8.250% or PIK 9.000% | 8.250 | 03/15/26 | 4,125 | 4,191,620 | |
741,268,319 | |||||
Semiconductors 0.2% | |||||
Microchip Technology, Inc., Gtd. Notes(a) | 4.250 | 09/01/25 | 51,214 | 53,046,006 | |
Software 0.8% | |||||
Black Knight InfoServ LLC, Gtd. Notes, 144A | 3.625 | 09/01/28 | 56,326 | 55,170,098 | |
Boxer Parent Co., Inc., Sr. Sec’d. Notes, 144A | 7.125 | 10/02/25 | 33,648 | 35,343,859 |
33
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Software (cont’d.) | |||||
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., Gtd. Notes, 144A | 5.750 % | 03/01/25 | 17,951 | $18,032,579 | |
Clarivate Science Holdings Corp., Sr. Unsec’d. Notes, 144A | 4.875 | 07/01/29 | 3,905 | 3,826,274 | |
Dun & Bradstreet Corp. (The), | |||||
Gtd. Notes, 144A(a) | 10.250 | 02/15/27 | 33,451 | 35,621,034 | |
Sr. Sec’d. Notes, 144A | 6.875 | 08/15/26 | 14,360 | 14,903,053 | |
Open Text Corp. (Canada), Gtd. Notes, 144A | 5.875 | 06/01/26 | 4,750 | 4,893,254 | |
Rackspace Technology Global, Inc., Sr. Sec’d. Notes, 144A(a) | 3.500 | 02/15/28 | 18,200 | 17,026,556 | |
184,816,707 | |||||
Telecommunications 5.5% | |||||
Altice France Holding SA (Luxembourg), Gtd. Notes, 144A | 6.000 | 02/15/28 | 1,090 | 1,026,410 | |
Altice France SA (France), | |||||
Sr. Sec’d. Notes, 144A | 5.125 | 07/15/29 | 14,825 | 14,121,815 | |
Sr. Sec’d. Notes, 144A | 8.125 | 02/01/27 | 63,220 | 67,460,875 | |
C&W Senior Financing DAC (Panama), Sr. Unsec’d. Notes, 144A | 6.875 | 09/15/27 | 8,900 | 9,313,330 | |
CommScope Technologies LLC, Gtd. Notes, 144A(a) | 6.000 | 06/15/25 | 65,885 | 64,132,450 | |
CommScope, Inc., Sr. Sec’d. Notes, 144A | 6.000 | 03/01/26 | 35,067 | 35,906,225 | |
Digicel Group Holdings Ltd. (Jamaica), | |||||
Sr. Sec’d. Notes, Cash coupon 8.000% and PIK 2.000%(a) | 10.000 | 04/01/24 | 24,940 | 24,942,890 | |
Sr. Unsec’d. Notes, 144A, Cash coupon 5.000% and PIK 3.000% or PIK 8.000%(a) | 8.000 | 04/01/25 | 14,847 | 14,094,796 | |
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), | |||||
Gtd. Notes, 144A | 8.000 | 12/31/26 | 58,118 | 56,951,603 | |
Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% | 13.000 | 12/31/25 | 73,358 | 75,313,544 | |
Sr. Sec’d. Notes, 144A | 8.750 | 05/25/24 | 84,818 | 87,356,060 | |
Digicel Ltd. (Jamaica), Gtd. Notes, 144A | 6.750 | 03/01/23 | 178,995 | 171,531,734 | |
Iliad Holding SASU (France), | |||||
Sr. Sec’d. Notes, 144A(a) | 6.500 | 10/15/26 | 28,350 | 29,056,043 |
34
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Telecommunications (cont’d.) | |||||
Iliad Holding SASU (France), (cont’d.) | |||||
Sr. Sec’d. Notes, 144A(a) | 7.000 % | 10/15/28 | 32,525 | $33,302,782 | |
Intelsat Jackson Holdings SA (Luxembourg), | |||||
Gtd. Notes (original cost $68,242,121; purchased 11/14/19 - 10/04/21)(f) | 5.500 | 08/01/23(d) | 110,159 | 53,912,491 | |
Gtd. Notes, 144A (original cost $31,765,204; purchased 10/21/20 - 10/14/21)(a)(f) | 8.500 | 10/15/24(d) | 55,297 | 27,907,284 | |
Gtd. Notes, 144A (original cost $90,685,909; purchased 11/15/17 - 10/23/20)(f) | 9.750 | 07/15/25(d) | 89,167 | 44,605,356 | |
Intrado Corp., Gtd. Notes, 144A(a) | 8.500 | 10/15/25 | 28,231 | 26,551,547 | |
Level 3 Financing, Inc., | |||||
Gtd. Notes(a) | 5.250 | 03/15/26 | 8,633 | 8,859,299 | |
Gtd. Notes, 144A(a) | 3.750 | 07/15/29 | 7,889 | 7,362,121 | |
Lumen Technologies, Inc., | |||||
Sr. Unsec’d. Notes, Series P(a) | 7.600 | 09/15/39 | 26,705 | 28,574,350 | |
Sr. Unsec’d. Notes, Series U(a) | 7.650 | 03/15/42 | 30,780 | 33,174,110 | |
Sr. Unsec’d. Notes, Series W | 6.750 | 12/01/23 | 11,701 | 12,633,006 | |
Sprint Capital Corp., | |||||
Gtd. Notes | 6.875 | 11/15/28 | 12,811 | 15,829,822 | |
Gtd. Notes | 8.750 | 03/15/32 | 34,452 | 50,956,228 | |
Sprint Corp., | |||||
Gtd. Notes | 7.125 | 06/15/24 | 37,247 | 41,666,797 | |
Gtd. Notes | 7.625 | 02/15/25 | 45,648 | 52,266,960 | |
Gtd. Notes | 7.625 | 03/01/26 | 17,625 | 20,818,447 | |
Gtd. Notes | 7.875 | 09/15/23 | 76,404 | 84,071,036 | |
Switch Ltd., Gtd. Notes, 144A(a) | 4.125 | 06/15/29 | 11,800 | 11,856,341 | |
Viasat, Inc., | |||||
Sr. Sec’d. Notes, 144A(a) | 5.625 | 04/15/27 | 6,300 | 6,437,610 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 09/15/25 | 44,509 | 44,968,530 | |
Sr. Unsec’d. Notes, 144A | 6.500 | 07/15/28 | 11,680 | 11,945,429 | |
Viavi Solutions, Inc., Gtd. Notes, 144A | 3.750 | 10/01/29 | 6,925 | 6,768,943 | |
Zayo Group Holdings, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.000 | 03/01/27 | 20,993 | 20,006,797 | |
Sr. Unsec’d. Notes, 144A(a) | 6.125 | 03/01/28 | 44,739 | 42,004,674 | |
1,337,687,735 |
35
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Toys/Games/Hobbies 0.0% | |||||
Mattel, Inc., Gtd. Notes, 144A(a) | 3.375 % | 04/01/26 | 1,875 | $1,905,557 | |
Transportation 0.1% | |||||
XPO Logistics, Inc., Gtd. Notes, 144A | 6.250 | 05/01/25 | 21,063 | 21,924,432 | |
Trucking & Leasing 0.1% | |||||
Fortress Transportation & Infrastructure Investors LLC, Sr. Unsec’d. Notes, 144A | 5.500 | 05/01/28 | 31,520 | 30,903,902 | |
Total Corporate Bonds (cost $20,202,802,570) | 20,325,384,189 |
Shares | |||||
Common Stocks 2.3% | |||||
Chemicals 0.1% | |||||
Ashland Global Holdings, Inc. | 230 | — | |||
Hexion Holdings Corp. (Class B Stock)* | 343,580 | 9,190,765 | |||
9,190,765 | |||||
Electric Utilities 0.2% | |||||
GenOn Energy Holdings, Inc. (Class A Stock) (original cost $21,213,596; purchased 02/28/19 - 10/23/20)*^(f) | 195,390 | 27,354,600 | |||
Keycon Power Holdings LLC*^ | 82,238 | 11,595,558 | |||
38,950,158 | |||||
Gas Utilities 0.5% | |||||
Ferrellgas Partners LP (Class B Stock) | 508,445 | 124,823,247 | |||
Hotels, Restaurants & Leisure 0.0% | |||||
CEC Entertainment, Inc.* | 240,485 | 4,208,488 | |||
Independent Power & Renewable Electricity Producers 0.0% | |||||
Vistra Corp. | 342,429 | 6,807,489 | |||
Oil, Gas & Consumable Fuels 1.5% | |||||
Chesapeake Energy Corp.(a) | 4,876,978 | 290,375,270 |
36
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Oil, Gas & Consumable Fuels (cont’d.) | |||||
Chesapeake Energy Corp. Backstop Commitment | 28,045 | $1,669,799 | |||
Civitas Resources, Inc. | 1,475,089 | 75,391,799 | |||
367,436,868 | |||||
Total Common Stocks (cost $267,260,709) | 551,417,015 | ||||
Preferred Stocks 0.6% | |||||
Capital Markets 0.0% | |||||
Goldman Sachs Group, Inc. (The), 6.375%(c), 3 Month LIBOR + 3.550%, Series K, Maturing 05/10/24(oo) | 87,000 | 2,409,900 | |||
Construction Materials 0.0% | |||||
New Millennium Homes LLC, Maturing 01/01/49*^ | 2,000 | 14,000 | |||
Gas Utilities 0.6% | |||||
Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31^ | 135,375,000 | 135,375,000 | |||
Media 0.0% | |||||
Adelphia Communications Corp.*^ | 20,000 | 20 | |||
Total Preferred Stocks (cost $133,507,166) | 137,798,920 |
Units | |||||
Warrants* 0.0% | |||||
Chemicals 0.0% | |||||
TPC Group, Inc., expiring 08/01/24 (original cost $5; purchased 02/02/21)^(f) | 48,201,233 | 226,546 | |||
Oil, Gas & Consumable Fuels 0.0% | |||||
Athabasca Oil Corp. (Canada), expiring 11/01/26 | 70,725 | 3,090,391 | |||
Total Warrants (cost $5) | 3,316,937 | ||||
Total Long-Term Investments (cost $21,802,909,691) | 22,231,868,114 |
37
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Description | Shares | Value | |||
Short-Term Investments 18.1% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Ultra Short Bond Fund(wa) | 1,767,416,063 | $1,767,416,063 | |||
PGIM Institutional Money Market Fund (cost $2,624,539,464; includes $2,624,389,280 of cash collateral for securities on loan)(b)(wa) | 2,626,429,288 | 2,624,590,788 | |||
Total Short-Term Investments (cost $4,391,955,527) | 4,392,006,851 | ||||
TOTAL INVESTMENTS 109.6% (cost $26,194,865,218) | 26,623,874,965 | ||||
Liabilities in excess of other assets(z) (9.6)% | (2,340,630,494) | ||||
Net Assets 100.0% | $24,283,244,471 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
EUR—Euro | |
USD—US Dollar |
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. | |
DIP—Debtor-In-Possession | |
iBoxx—Bond Market Indices | |
LIBOR—London Interbank Offered Rate | |
LP—Limited Partnership | |
MTN—Medium Term Note | |
OTC—Over-the-counter | |
PIK—Payment-in-Kind | |
Q—Quarterly payment frequency for swaps | |
REITs—Real Estate Investment Trust | |
T—Swap payment upon termination |
* | Non-income producing security. |
# | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $186,542,195 and 0.8% of net assets. |
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $2,566,581,073; cash collateral of $2,624,389,280 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Fund may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day. |
(b) | Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at November 30, 2021. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of November 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. |
(d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
38
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
(f) | Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $325,943,383. The aggregate value of $248,827,392 is 1.0% of net assets. |
(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. |
(oo) | Perpetual security. Maturity date represents next call date. |
(p) | Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end. |
(wa) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund, if applicable. |
(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 November 30, 2021:
Borrower | Principal Amount (000)# | Current Value | Unrealized Appreciation | Unrealized Depreciation | ||||
Intelsat Jackson Holdings SA, DIP Term Loan, 3 Month LIBOR + 3.600%, 3.600%(c), Maturity Date 07/13/22 (cost $4,464,612) | 4,508 | $4,516,758 | $52,146 | $— |
Futures contracts outstanding at November 30, 2021: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
3,059 | 2 Year U.S. Treasury Notes | Mar. 2022 | $669,108,456 | $1,122,800 | ||||
338 | 5 Year Euro-Bobl | Mar. 2022 | 51,480,655 | 38,049 | ||||
11,864 | 5 Year U.S. Treasury Notes | Mar. 2022 | 1,440,271,092 | 9,192,365 | ||||
5,305 | 10 Year U.S. Treasury Notes | Mar. 2022 | 693,960,313 | 7,094,408 | ||||
735 | 20 Year U.S. Treasury Bonds | Mar. 2022 | 119,161,875 | 2,583,523 | ||||
10 | Euro Schatz Index | Mar. 2022 | 1,273,027 | 218 | ||||
20,031,363 | ||||||||
Short Positions: | ||||||||
164 | 10 Year Euro-Bund | Dec. 2021 | 32,059,510 | 65,848 | ||||
821 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2022 | 164,661,813 | (5,128,923) | ||||
(5,063,075) | ||||||||
$14,968,288 |
39
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at November 30, 2021:
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Euro, | |||||||||||||
Expiring 12/02/21 | BNP Paribas S.A. | EUR | 18,583 | $20,910,419 | $21,075,186 | $164,767 | $— |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Euro, | |||||||||||||
Expiring 12/02/21 | Barclays Bank PLC | EUR | 18,583 | $21,577,302 | $21,075,187 | $502,115 | $— | ||||||
Expiring 01/12/22 | BNP Paribas S.A. | EUR | 18,583 | 20,945,447 | 21,110,361 | — | (164,914) | ||||||
$42,522,749 | $42,185,548 | 502,115 | (164,914) | ||||||||||
$666,882 | $(164,914) |
Credit default swap agreements outstanding at November 30, 2021:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at November 30, 2021(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||
OTC Credit Default Swap Agreement on corporate and/or sovereign issues - Sell Protection(2): | |||||||||||||||||
EQT Corp. | 06/20/22 | 5.000%(Q) | 19,150 | 1.115% | $606,625 | $382,870 | $223,755 | Credit Suisse International |
The Fund entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) | If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced |
40
PGIM High Yield Fund
Schedule of Investments as of November 30, 2021 (unaudited) (continued)
index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | |
(3) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
Total return swap agreements outstanding at November 30, 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 Yield Index(T) | 3 Month LIBOR(Q) | BNP Paribas S.A. | 12/20/21 | 73,420 | $(1,118,100) | $— | $(1,118,100) | |||||||
iBoxx US Dollar Liquid High Yield Index(T) | 3 Month LIBOR(Q) | Goldman Sachs International | 12/20/21 | 111,100 | (418,076) | — | (418,076) | |||||||
iBoxx US Dollar Liquid High Yield Index(T) | 3 Month LIBOR(Q) | BNP Paribas S.A. | 12/20/21 | 137,330 | (1,988,956) | — | (1,988,956) | |||||||
iBoxx US Dollar Liquid High Yield Index(T) | 3 Month LIBOR(Q) | Goldman Sachs International | 12/20/21 | 188,900 | (2,428,327) | — | (2,428,327) | |||||||
iBoxx US Dollar Liquid High Yield Index(T) | 3 Month LIBOR(Q) | Goldman Sachs International | 12/20/21 | 388,900 | (1,466,082) | — | (1,466,082) | |||||||
$(7,419,541) | $— | $(7,419,541) |
(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).
41