PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 93.5% | |||||
Asset-Backed Securities 3.9% | |||||
Collateralized Loan Obligations | |||||
Carlyle Global Market Strategies CLO Ltd. (Cayman Islands), Series 2015-05A, Class A1RR, 144A, 3 Month LIBOR + 1.080% (Cap N/A, Floor 1.080%) | 6.330 %(c) | 01/20/32 | 249 | $245,701 | |
KKR Static CLO Ltd. (Cayman Islands), Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.220% (Cap N/A, Floor 2.220%) | 6.738(c) | 10/20/31 | 250 | 249,347 | |
Race Point CLO Ltd. (Cayman Islands), Series 2013-08A, Class AR2, 144A, 3 Month LIBOR + 1.040% (Cap N/A, Floor 1.040%) | 6.419(c) | 02/20/30 | 215 | 212,980 | |
Voya CLO Ltd. (Cayman Islands), Series 2014-02A, Class A1RR, 144A, 3 Month LIBOR + 1.020% (Cap N/A, Floor 1.020%) | 6.280(c) | 04/17/30 | 208 | 205,895 | |
Total Asset-Backed Securities (cost $915,411) | 913,923 | ||||
Convertible Bond 0.0% | |||||
Telecommunications | |||||
Digicel Group Holdings Ltd. (Jamaica), Sub. Notes, 144A, Cash coupon 7.000% or PIK N/A (cost $762) | 7.000 | 06/16/23(oo) | 5 | 569 | |
Corporate Bonds 84.1% | |||||
Advertising 0.3% | |||||
CMG Media Corp., Gtd. Notes, 144A | 8.875 | 12/15/27 | 100 | 64,781 | |
Aerospace & Defense 1.6% | |||||
Bombardier, Inc. (Canada), | |||||
Sr. Unsec’d. Notes, 144A | 6.000 | 02/15/28 | 50 | 45,973 | |
Sr. Unsec’d. Notes, 144A | 7.125 | 06/15/26 | 50 | 49,032 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 02/01/29 | 25 | 24,264 | |
Sr. Unsec’d. Notes, 144A | 7.875 | 04/15/27 | 250 | 246,155 | |
365,424 |
1
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Airlines 0.9% | |||||
American Airlines, Inc., Sr. Sec’d. Notes, 144A | 7.250 % | 02/15/28 | 25 | $24,480 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd., Sr. Sec’d. Notes, 144A | 5.750 | 04/20/29 | 100 | 95,625 | |
United Airlines, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.375 | 04/15/26 | 50 | 47,325 | |
Sr. Sec’d. Notes, 144A | 4.625 | 04/15/29 | 50 | 45,201 | |
212,631 | |||||
Apparel 1.0% | |||||
Hanesbrands, Inc., Gtd. Notes, 144A | 4.875 | 05/15/26 | 25 | 23,289 | |
Kontoor Brands, Inc., Gtd. Notes, 144A | 4.125 | 11/15/29 | 75 | 62,800 | |
Levi Strauss & Co., Sr. Unsec’d. Notes, 144A | 3.500 | 03/01/31 | 75 | 61,962 | |
Wolverine World Wide, Inc., Gtd. Notes, 144A | 4.000 | 08/15/29 | 100 | 79,723 | |
227,774 | |||||
Auto Manufacturers 1.6% | |||||
Allison Transmission, Inc., Gtd. Notes, 144A | 3.750 | 01/30/31 | 50 | 42,071 | |
Ford Motor Co., | |||||
Sr. Unsec’d. Notes | 3.250 | 02/12/32 | 325 | 247,020 | |
Sr. Unsec’d. Notes | 4.750 | 01/15/43 | 100 | 73,785 | |
362,876 | |||||
Auto Parts & Equipment 1.0% | |||||
Adient Global Holdings Ltd., Sr. Sec’d. Notes, 144A | 7.000 | 04/15/28 | 25 | 25,250 | |
American Axle & Manufacturing, Inc., Gtd. Notes | 6.500 | 04/01/27 | 75 | 69,691 | |
Dana, Inc., Sr. Unsec’d. Notes | 4.250 | 09/01/30 | 175 | 140,968 | |
235,909 |
2
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Banks 1.1% | |||||
Freedom Mortgage Corp., Sr. Unsec’d. Notes, 144A | 7.625 % | 05/01/26 | 25 | $21,910 | |
Intesa Sanpaolo SpA (Italy), Sub. Notes, 144A | 4.198(ff) | 06/01/32 | 200 | 150,472 | |
Popular, Inc. (Puerto Rico), Sr. Unsec’d. Notes | 6.125 | 09/14/23 | 75 | 74,250 | |
246,632 | |||||
Building Materials 1.9% | |||||
Cornerstone Building Brands, Inc., Gtd. Notes, 144A | 6.125 | 01/15/29 | 125 | 92,692 | |
Eco Material Technologies, Inc., Sr. Sec’d. Notes, 144A | 7.875 | 01/31/27 | 25 | 23,720 | |
JELD-WEN, Inc., Gtd. Notes, 144A | 4.625 | 12/15/25 | 50 | 48,260 | |
Masonite International Corp., Gtd. Notes, 144A | 5.375 | 02/01/28 | 50 | 47,397 | |
MIWD Holdco II LLC/MIWD Finance Corp., Gtd. Notes, 144A | 5.500 | 02/01/30 | 25 | 20,230 | |
Smyrna Ready Mix Concrete LLC, Sr. Sec’d. Notes, 144A | 6.000 | 11/01/28 | 75 | 69,890 | |
Standard Industries, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 3.375 | 01/15/31 | 50 | 39,008 | |
Sr. Unsec’d. Notes, 144A | 4.375 | 07/15/30 | 25 | 21,197 | |
Sr. Unsec’d. Notes, 144A | 4.750 | 01/15/28 | 75 | 68,855 | |
431,249 | |||||
Chemicals 1.0% | |||||
ASP Unifrax Holdings, Inc., Sr. Sec’d. Notes, 144A | 5.250 | 09/30/28 | 125 | 94,185 | |
Diamond BC BV, Gtd. Notes, 144A | 4.625 | 10/01/29 | 50 | 50,190 | |
SK Invictus Intermediate II Sarl, Sr. Sec’d. Notes, 144A | 5.000 | 10/30/29 | 100 | 79,393 | |
223,768 | |||||
Commercial Services 8.3% | |||||
Allied Universal Holdco LLC/Allied Universal Finance Corp., Sr. Sec’d. Notes, 144A | 6.625 | 07/15/26 | 200 | 187,519 |
3
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (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./Atlas Luxco 4 Sarl, Sr. Sec’d. Notes, 144A | 4.625 % | 06/01/28 | 200 | $164,000 | |
Alta Equipment Group, Inc., Sec’d. Notes, 144A | 5.625 | 04/15/26 | 125 | 114,514 | |
AMN Healthcare, Inc., Gtd. Notes, 144A | 4.625 | 10/01/27 | 225 | 208,611 | |
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., Gtd. Notes, 144A | 5.375 | 03/01/29 | 75 | 67,417 | |
Brink’s Co. (The), Gtd. Notes, 144A | 4.625 | 10/15/27 | 75 | 69,954 | |
Gartner, Inc., Gtd. Notes, 144A | 3.750 | 10/01/30 | 100 | 87,783 | |
Herc Holdings, Inc., Gtd. Notes, 144A | 5.500 | 07/15/27 | 50 | 47,482 | |
Hertz Corp. (The), Gtd. Notes, 144A | 5.000 | 12/01/29 | 125 | 100,331 | |
Metis Merger Sub LLC, Sr. Unsec’d. Notes, 144A | 6.500 | 05/15/29 | 150 | 125,894 | |
MPH Acquisition Holdings LLC, Sr. Sec’d. Notes, 144A | 5.500 | 09/01/28 | 150 | 120,199 | |
NESCO Holdings II, Inc., Sec’d. Notes, 144A | 5.500 | 04/15/29 | 100 | 88,643 | |
United Rentals North America, Inc., Gtd. Notes | 3.750 | 01/15/32 | 475 | 396,389 | |
Verscend Escrow Corp., Sr. Unsec’d. Notes, 144A | 9.750 | 08/15/26 | 150 | 150,232 | |
1,928,968 | |||||
Computers 2.1% | |||||
CA Magnum Holdings (India), Sr. Sec’d. Notes, 144A | 5.375 | 10/31/26 | 200 | 173,288 | |
McAfee Corp., Sr. Unsec’d. Notes, 144A | 7.375 | 02/15/30 | 50 | 42,031 | |
NCR Corp., | |||||
Gtd. Notes, 144A | 5.000 | 10/01/28 | 125 | 110,391 | |
Gtd. Notes, 144A | 5.750 | 09/01/27 | 75 | 74,446 |
4
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Computers (cont’d.) | |||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., Sr. Sec’d. Notes, 144A | 5.750 % | 06/01/25 | 100 | $99,723 | |
499,879 | |||||
Distribution/Wholesale 0.8% | |||||
H&E Equipment Services, Inc., Gtd. Notes, 144A | 3.875 | 12/15/28 | 200 | 171,709 | |
Ritchie Bros Holdings, Inc. (Canada), Gtd. Notes, 144A | 7.750 | 03/15/31 | 25 | 26,000 | |
197,709 | |||||
Diversified Financial Services 5.2% | |||||
Jefferies Finance LLC/JFIN Co-Issuer Corp., Sr. Unsec’d. Notes, 144A | 5.000 | 08/15/28 | 200 | 162,933 | |
LD Holdings Group LLC, Gtd. Notes, 144A | 6.125 | 04/01/28 | 125 | 80,927 | |
LFS Topco LLC, Gtd. Notes, 144A | 5.875 | 10/15/26 | 75 | 65,351 | |
LPL Holdings, Inc., Gtd. Notes, 144A | 4.375 | 05/15/31 | 125 | 108,764 | |
Nationstar Mortgage Holdings, Inc., | |||||
Gtd. Notes, 144A | 5.125 | 12/15/30 | 225 | 182,404 | |
Gtd. Notes, 144A | 5.500 | 08/15/28 | 200 | 173,064 | |
Navient Corp., | |||||
Sr. Unsec’d. Notes | 5.500 | 03/15/29 | 50 | 41,369 | |
Sr. Unsec’d. Notes | 5.875 | 10/25/24 | 25 | 24,456 | |
Sr. Unsec’d. Notes | 6.750 | 06/25/25 | 25 | 24,323 | |
Sr. Unsec’d. Notes | 9.375 | 07/25/30 | 25 | 23,995 | |
OneMain Finance Corp., | |||||
Gtd. Notes | 6.625 | 01/15/28 | 75 | 68,120 | |
Gtd. Notes | 7.125 | 03/15/26 | 75 | 71,725 | |
PennyMac Financial Services, Inc., Gtd. Notes, 144A | 5.375 | 10/15/25 | 125 | 116,254 | |
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., Gtd. Notes, 144A | 4.000 | 10/15/33 | 75 | 56,463 | |
1,200,148 |
5
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electrical Components & Equipment 0.6% | |||||
Energizer Holdings, Inc., Gtd. Notes, 144A | 4.750 % | 06/15/28 | 50 | $44,509 | |
WESCO Distribution, Inc., Gtd. Notes, 144A | 7.250 | 06/15/28 | 100 | 102,057 | |
146,566 | |||||
Electronics 0.1% | |||||
Likewize Corp., Sr. Sec’d. Notes, 144A (original cost $26,839; purchased 01/13/22)(f) | 9.750 | 10/15/25 | 25 | 23,270 | |
Engineering & Construction 0.5% | |||||
TopBuild Corp., Gtd. Notes, 144A | 3.625 | 03/15/29 | 125 | 107,988 | |
Environmental Control 1.0% | |||||
Covanta Holding Corp., Gtd. Notes, 144A | 4.875 | 12/01/29 | 50 | 43,846 | |
GFL Environmental, Inc. (Canada), | |||||
Gtd. Notes, 144A | 4.000 | 08/01/28 | 125 | 111,250 | |
Gtd. Notes, 144A | 4.375 | 08/15/29 | 100 | 88,500 | |
243,596 | |||||
Foods 3.0% | |||||
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC, | |||||
Gtd. Notes, 144A | 3.500 | 03/15/29 | 50 | 43,510 | |
Gtd. Notes, 144A | 6.500 | 02/15/28 | 25 | 24,905 | |
B&G Foods, Inc., | |||||
Gtd. Notes | 5.250 | 04/01/25 | 75 | 70,701 | |
Gtd. Notes | 5.250 | 09/15/27 | 75 | 63,748 | |
Chobani LLC/Chobani Finance Corp., Inc., | |||||
Gtd. Notes, 144A | 7.500 | 04/15/25 | 125 | 124,212 | |
Sr. Sec’d. Notes, 144A | 4.625 | 11/15/28 | 25 | 22,658 | |
Kraft Heinz Foods Co., | |||||
Gtd. Notes | 4.375 | 06/01/46 | 25 | 21,026 | |
Gtd. Notes | 5.200 | 07/15/45 | 25 | 23,618 | |
Gtd. Notes | 5.500 | 06/01/50 | 100 | 98,503 | |
Lamb Weston Holdings, Inc., | |||||
Gtd. Notes, 144A | 4.125 | 01/31/30 | 25 | 22,321 |
6
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Foods (cont’d.) | |||||
Lamb Weston Holdings, Inc., (cont’d.) | |||||
Gtd. Notes, 144A | 4.375 % | 01/31/32 | 75 | $66,619 | |
Post Holdings, Inc., | |||||
Gtd. Notes, 144A | 4.625 | 04/15/30 | 50 | 43,766 | |
Sr. Unsec’d. Notes, 144A | 4.500 | 09/15/31 | 75 | 63,574 | |
689,161 | |||||
Gas 0.5% | |||||
AmeriGas Partners LP/AmeriGas Finance Corp., | |||||
Sr. Unsec’d. Notes | 5.750 | 05/20/27 | 75 | 67,958 | |
Sr. Unsec’d. Notes | 5.875 | 08/20/26 | 50 | 46,519 | |
114,477 | |||||
Healthcare-Products 1.1% | |||||
Embecta Corp., Sr. Sec’d. Notes, 144A | 5.000 | 02/15/30 | 50 | 41,953 | |
Medline Borrower LP, | |||||
Sr. Sec’d. Notes, 144A | 3.875 | 04/01/29 | 125 | 108,004 | |
Sr. Unsec’d. Notes, 144A | 5.250 | 10/01/29 | 125 | 107,397 | |
257,354 | |||||
Healthcare-Services 3.8% | |||||
DaVita, Inc., | |||||
Gtd. Notes, 144A | 3.750 | 02/15/31 | 100 | 79,290 | |
Gtd. Notes, 144A | 4.625 | 06/01/30 | 125 | 107,233 | |
Prime Healthcare Services, Inc., Sr. Sec’d. Notes, 144A | 7.250 | 11/01/25 | 150 | 139,973 | |
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., Gtd. Notes, 144A | 9.750 | 12/01/26 | 225 | 168,588 | |
Tenet Healthcare Corp., | |||||
Gtd. Notes | 6.125 | 10/01/28 | 75 | 71,090 | |
Sr. Sec’d. Notes | 4.250 | 06/01/29 | 150 | 134,693 | |
Sr. Sec’d. Notes, 144A | 6.750 | 05/15/31 | 50 | 49,951 | |
Sr. Unsec’d. Notes | 6.875 | 11/15/31 | 125 | 121,681 | |
872,499 |
7
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Home Builders 7.8% | |||||
Ashton Woods USA LLC/Ashton Woods Finance Co., Sr. Unsec’d. Notes, 144A | 6.625 % | 01/15/28 | 125 | $117,320 | |
Beazer Homes USA, Inc., | |||||
Gtd. Notes | 5.875 | 10/15/27 | 150 | 138,150 | |
Gtd. Notes | 7.250 | 10/15/29 | 75 | 71,265 | |
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), | |||||
Gtd. Notes, 144A | 6.250 | 09/15/27 | 50 | 45,019 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 06/15/29 | 75 | 58,313 | |
Century Communities, Inc., Gtd. Notes | 6.750 | 06/01/27 | 200 | 199,807 | |
Empire Communities Corp. (Canada), Sr. Unsec’d. Notes, 144A | 7.000 | 12/15/25 | 25 | 22,875 | |
Forestar Group, Inc., Gtd. Notes, 144A | 5.000 | 03/01/28 | 125 | 114,375 | |
KB Home, | |||||
Gtd. Notes | 4.000 | 06/15/31 | 150 | 128,082 | |
Gtd. Notes | 4.800 | 11/15/29 | 25 | 22,775 | |
Gtd. Notes | 6.875 | 06/15/27 | 50 | 51,022 | |
M/I Homes, Inc., Gtd. Notes | 4.950 | 02/01/28 | 150 | 140,027 | |
Mattamy Group Corp. (Canada), Sr. Unsec’d. Notes, 144A | 4.625 | 03/01/30 | 200 | 171,604 | |
Meritage Homes Corp., Gtd. Notes | 5.125 | 06/06/27 | 75 | 71,594 | |
Shea Homes LP/Shea Homes Funding Corp., | |||||
Sr. Unsec’d. Notes | 4.750 | 02/15/28 | 25 | 22,060 | |
Sr. Unsec’d. Notes | 4.750 | 04/01/29 | 100 | 87,402 | |
STL Holding Co. LLC, Sr. Unsec’d. Notes, 144A | 7.500 | 02/15/26 | 50 | 45,115 | |
Taylor Morrison Communities, Inc., | |||||
Gtd. Notes, 144A | 5.750 | 01/15/28 | 50 | 48,500 | |
Gtd. Notes, 144A | 5.875 | 06/15/27 | 75 | 73,122 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 08/01/30 | 50 | 46,493 | |
Tri Pointe Homes, Inc., Gtd. Notes | 5.700 | 06/15/28 | 150 | 144,424 | |
1,819,344 | |||||
Household Products/Wares 0.3% | |||||
ACCO Brands Corp., Gtd. Notes, 144A | 4.250 | 03/15/29 | 75 | 63,204 |
8
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Housewares 0.7% | |||||
Scotts Miracle-Gro Co. (The), Gtd. Notes | 4.000 % | 04/01/31 | 125 | $98,851 | |
SWF Escrow Issuer Corp., Sr. Unsec’d. Notes, 144A | 6.500 | 10/01/29 | 100 | 59,660 | |
158,511 | |||||
Internet 0.5% | |||||
Gen Digital, Inc., Sr. Unsec’d. Notes, 144A | 5.000 | 04/15/25 | 125 | 122,182 | |
Iron/Steel 0.7% | |||||
Big River Steel LLC/BRS Finance Corp., Sr. Sec’d. Notes, 144A | 6.625 | 01/31/29 | 100 | 99,271 | |
Cleveland-Cliffs, Inc., Gtd. Notes, 144A | 6.750 | 04/15/30 | 25 | 23,620 | |
Commercial Metals Co., | |||||
Sr. Unsec’d. Notes | 4.125 | 01/15/30 | 25 | 22,147 | |
Sr. Unsec’d. Notes | 4.375 | 03/15/32 | 25 | 21,428 | |
166,466 | |||||
Lodging 0.4% | |||||
Hilton Domestic Operating Co., Inc., Gtd. Notes, 144A | 3.625 | 02/15/32 | 100 | 82,905 | |
Machinery-Construction & Mining 0.3% | |||||
Terex Corp., Gtd. Notes, 144A | 5.000 | 05/15/29 | 75 | 69,097 | |
Machinery-Diversified 1.0% | |||||
Chart Industries, Inc., | |||||
Gtd. Notes, 144A | 9.500 | 01/01/31 | 25 | 26,144 | |
Sr. Sec’d. Notes, 144A | 7.500 | 01/01/30 | 50 | 50,517 | |
GrafTech Finance, Inc., Sr. Sec’d. Notes, 144A | 4.625 | 12/15/28 | 50 | 39,972 | |
Maxim Crane Works Holdings Capital LLC, Sec’d. Notes, 144A (original cost $128,538; purchased 12/08/21)(f) | 10.125 | 08/01/24 | 125 | 125,136 | |
241,769 |
9
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Media 9.6% | |||||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||
Sr. Unsec’d. Notes, 144A | 4.250 % | 02/01/31 | 475 | $380,751 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/28 | 225 | 204,512 | |
CSC Holdings LLC, | |||||
Gtd. Notes, 144A | 4.125 | 12/01/30 | 200 | 138,762 | |
Sr. Unsec’d. Notes | 5.250 | 06/01/24 | 25 | 23,199 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 12/01/30 | 200 | 86,124 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 04/01/28 | 200 | 108,673 | |
Diamond Sports Group LLC/Diamond Sports Finance Co., | |||||
Gtd. Notes, 144A | 6.625 | 08/15/27(d) | 285 | 8,071 | |
Sec’d. Notes, 144A | 5.375 | 08/15/26(d) | 299 | 12,410 | |
DISH DBS Corp., | |||||
Gtd. Notes | 5.125 | 06/01/29 | 85 | 38,447 | |
Gtd. Notes | 7.375 | 07/01/28 | 50 | 25,750 | |
Gtd. Notes | 7.750 | 07/01/26 | 125 | 71,595 | |
DISH Network Corp., Sr. Sec’d. Notes, 144A | 11.750 | 11/15/27 | 125 | 120,192 | |
Gray Television, Inc., Gtd. Notes, 144A | 5.875 | 07/15/26 | 100 | 86,166 | |
iHeartCommunications, Inc., Sr. Sec’d. Notes | 6.375 | 05/01/26 | 75 | 56,946 | |
Midcontinent Communications/Midcontinent Finance Corp., Gtd. Notes, 144A | 5.375 | 08/15/27 | 105 | 97,544 | |
Nexstar Media, Inc., Gtd. Notes, 144A | 5.625 | 07/15/27 | 75 | 68,812 | |
Radiate Holdco LLC/Radiate Finance, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.500 | 09/15/26 | 125 | 96,287 | |
Sr. Unsec’d. Notes, 144A | 6.500 | 09/15/28 | 125 | 62,925 | |
Sinclair Television Group, Inc., Gtd. Notes, 144A | 5.125 | 02/15/27 | 100 | 81,878 | |
Univision Communications, Inc., | |||||
Sr. Sec’d. Notes, 144A | 5.125 | 02/15/25 | 100 | 97,277 | |
Sr. Sec’d. Notes, 144A | 6.625 | 06/01/27 | 100 | 94,805 | |
Videotron Ltd. (Canada), Gtd. Notes, 144A | 5.125 | 04/15/27 | 100 | 96,250 | |
VZ Secured Financing BV (Netherlands), Sr. Sec’d. Notes, 144A | 5.000 | 01/15/32 | 200 | 159,036 | |
2,216,412 |
10
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Mining 0.5% | |||||
Hudbay Minerals, Inc. (Canada), Gtd. Notes, 144A | 6.125 % | 04/01/29 | 125 | $112,969 | |
Miscellaneous Manufacturing 0.7% | |||||
Amsted Industries, Inc., | |||||
Gtd. Notes, 144A | 5.625 | 07/01/27 | 50 | 48,231 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 05/15/30 | 125 | 112,674 | |
160,905 | |||||
Oil & Gas 3.7% | |||||
Antero Resources Corp., | |||||
Gtd. Notes, 144A | 5.375 | 03/01/30 | 75 | 68,972 | |
Gtd. Notes, 144A | 7.625 | 02/01/29 | 100 | 101,785 | |
Chesapeake Energy Corp., | |||||
Gtd. Notes, 144A | 5.500 | 02/01/26 | 50 | 48,687 | |
Gtd. Notes, 144A | 5.875 | 02/01/29 | 100 | 94,202 | |
CNX Resources Corp., Gtd. Notes, 144A | 7.250 | 03/14/27 | 75 | 73,939 | |
Comstock Resources, Inc., | |||||
Gtd. Notes, 144A | 5.875 | 01/15/30 | 125 | 104,611 | |
Gtd. Notes, 144A | 6.750 | 03/01/29 | 25 | 21,803 | |
Range Resources Corp., | |||||
Gtd. Notes | 4.875 | 05/15/25 | 50 | 49,268 | |
Gtd. Notes, 144A | 4.750 | 02/15/30 | 25 | 22,642 | |
Southwestern Energy Co., Gtd. Notes | 5.375 | 03/15/30 | 150 | 137,955 | |
Sunoco LP/Sunoco Finance Corp., Gtd. Notes | 4.500 | 04/30/30 | 150 | 131,472 | |
855,336 | |||||
Packaging & Containers 1.5% | |||||
Graphic Packaging International LLC, Gtd. Notes | 4.125 | 08/15/24 | 25 | 24,635 | |
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada), Sr. Sec’d. Notes, 144A | 6.000 | 09/15/28 | 50 | 40,983 | |
LABL, Inc., | |||||
Sr. Sec’d. Notes, 144A | 5.875 | 11/01/28 | 150 | 135,033 | |
Sr. Unsec’d. Notes, 144A | 8.250 | 11/01/29 | 25 | 20,395 | |
Sr. Unsec’d. Notes, 144A | 10.500 | 07/15/27 | 50 | 46,461 |
11
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Packaging & Containers (cont’d.) | |||||
Owens-Brockway Glass Container, Inc., | |||||
Gtd. Notes, 144A | 6.625 % | 05/13/27 | 19 | $18,971 | |
Gtd. Notes, 144A | 7.250 | 05/15/31 | 25 | 25,442 | |
TriMas Corp., Gtd. Notes, 144A | 4.125 | 04/15/29 | 50 | 44,328 | |
356,248 | |||||
Pharmaceuticals 2.4% | |||||
AdaptHealth LLC, Gtd. Notes, 144A | 4.625 | 08/01/29 | 125 | 96,305 | |
Bausch Health Cos., Inc., | |||||
Gtd. Notes, 144A | 5.000 | 01/30/28 | 200 | 89,000 | |
Gtd. Notes, 144A | 5.250 | 01/30/30 | 300 | 127,560 | |
Gtd. Notes, 144A | 9.000 | 12/15/25 | 25 | 21,625 | |
Organon & Co./Organon Foreign Debt Co-Issuer BV, Sr. Sec’d. Notes, 144A | 4.125 | 04/30/28 | 200 | 178,138 | |
P&L Development LLC/PLD Finance Corp., Sr. Sec’d. Notes, 144A | 7.750 | 11/15/25 | 50 | 39,853 | |
552,481 | |||||
Pipelines 2.5% | |||||
Antero Midstream Partners LP/Antero Midstream Finance Corp., | |||||
Gtd. Notes, 144A | 5.375 | 06/15/29 | 125 | 114,898 | |
Gtd. Notes, 144A | 5.750 | 03/01/27 | 50 | 47,962 | |
Cheniere Energy Partners LP, Gtd. Notes | 4.000 | 03/01/31 | 150 | 132,072 | |
Cheniere Energy, Inc., Sr. Unsec’d. Notes | 4.625 | 10/15/28 | 125 | 117,495 | |
CNX Midstream Partners LP, Gtd. Notes, 144A | 4.750 | 04/15/30 | 100 | 83,197 | |
EQM Midstream Partners LP, | |||||
Sr. Unsec’d. Notes, 144A | 7.500 | 06/01/27 | 50 | 50,242 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 06/01/30 | 25 | 25,129 | |
570,995 | |||||
Real Estate 2.1% | |||||
Five Point Operating Co. LP/Five Point Capital Corp., Gtd. Notes, 144A | 7.875 | 11/15/25 | 100 | 88,594 |
12
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Real Estate (cont’d.) | |||||
Greystar Real Estate Partners LLC, Sr. Sec’d. Notes, 144A | 5.750 % | 12/01/25 | 200 | $192,342 | |
Howard Hughes Corp. (The), Gtd. Notes, 144A | 5.375 | 08/01/28 | 150 | 133,626 | |
Hunt Cos., Inc., Sr. Sec’d. Notes, 144A | 5.250 | 04/15/29 | 75 | 57,466 | |
Realogy Group LLC/Realogy Co-Issuer Corp., Gtd. Notes, 144A | 5.750 | 01/15/29 | 25 | 18,085 | |
490,113 | |||||
Real Estate Investment Trusts (REITs) 2.5% | |||||
Diversified Healthcare Trust, | |||||
Gtd. Notes | 4.375 | 03/01/31 | 75 | 53,712 | |
Gtd. Notes | 9.750 | 06/15/25 | 125 | 121,051 | |
MPT Operating Partnership LP/MPT Finance Corp., | |||||
Gtd. Notes | 4.625 | 08/01/29 | 50 | 37,407 | |
Gtd. Notes | 5.000 | 10/15/27 | 100 | 82,191 | |
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, Sr. Sec’d. Notes, 144A | 7.500 | 06/01/25 | 100 | 100,107 | |
SBA Communications Corp., Sr. Unsec’d. Notes | 3.125 | 02/01/29 | 225 | 190,107 | |
584,575 | |||||
Retail 4.3% | |||||
1011778 BC ULC/New Red Finance, Inc. (Canada), Sr. Sec’d. Notes, 144A | 3.875 | 01/15/28 | 100 | 91,445 | |
Arko Corp., Gtd. Notes, 144A | 5.125 | 11/15/29 | 25 | 19,644 | |
At Home Group, Inc., Gtd. Notes, 144A | 7.125 | 07/15/29 | 52 | 49,554 | |
BCPE Ulysses Intermediate, Inc., Sr. Unsec’d. Notes, 144A, Cash coupon 7.750% or PIK 8.500% | 7.750 | 04/01/27 | 25 | 21,519 | |
Brinker International, Inc., Gtd. Notes, 144A | 5.000 | 10/01/24 | 50 | 49,235 | |
eG Global Finance PLC (United Kingdom), Sr. Sec’d. Notes | 6.250 | 10/30/25 | EUR | 100 | 102,818 |
Foundation Building Materials, Inc., Gtd. Notes, 144A | 6.000 | 03/01/29 | 75 | 60,260 |
13
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Retail (cont’d.) | |||||
Gap, Inc. (The), Gtd. Notes, 144A | 3.875 % | 10/01/31 | 100 | $69,089 | |
LBM Acquisition LLC, Gtd. Notes, 144A | 6.250 | 01/15/29 | 50 | 39,600 | |
LCM Investments Holdings II LLC, Sr. Unsec’d. Notes, 144A | 4.875 | 05/01/29 | 50 | 41,909 | |
Park River Holdings, Inc., Gtd. Notes, 144A | 5.625 | 02/01/29 | 100 | 74,429 | |
Patrick Industries, Inc., Gtd. Notes, 144A | 4.750 | 05/01/29 | 80 | 68,423 | |
SRS Distribution, Inc., Gtd. Notes, 144A | 6.000 | 12/01/29 | 50 | 41,319 | |
Suburban Propane Partners LP/Suburban Energy Finance Corp., Sr. Unsec’d. Notes | 5.875 | 03/01/27 | 100 | 96,479 | |
Superior Plus LP/Superior General Partner, Inc. (Canada), Gtd. Notes, 144A | 4.500 | 03/15/29 | 150 | 131,862 | |
White Cap Buyer LLC, Sr. Unsec’d. Notes, 144A | 6.875 | 10/15/28 | 50 | 43,426 | |
1,001,011 | |||||
Software 1.7% | |||||
Black Knight InfoServ LLC, Gtd. Notes, 144A | 3.625 | 09/01/28 | 150 | 134,777 | |
Boxer Parent Co., Inc., Sr. Sec’d. Notes, 144A | 7.125 | 10/02/25 | 72 | 72,203 | |
Camelot Finance SA, Sr. Sec’d. Notes, 144A | 4.500 | 11/01/26 | 75 | 69,938 | |
Clarivate Science Holdings Corp., | |||||
Gtd. Notes, 144A | 4.875 | 07/01/29 | 75 | 64,411 | |
Sr. Sec’d. Notes, 144A | 3.875 | 07/01/28 | 50 | 44,128 | |
385,457 | |||||
Telecommunications 3.5% | |||||
Digicel Group Holdings Ltd. (Jamaica), Sr. Unsec’d. Notes, 144A, Cash coupon 5.000% and PIK 3.000% | 8.000 | 04/01/25 | 105 | 40,853 | |
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), | |||||
Gtd. Notes, 144A | 8.000 | 12/31/26 | 35 | 7,525 |
14
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Telecommunications (cont’d.) | |||||
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), (cont’d.) | |||||
Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% | 13.000 % | 12/31/25 | 5 | $3,400 | |
Sr. Sec’d. Notes, 144A | 8.750 | 05/25/24 | 200 | 183,050 | |
Digicel Ltd. (Jamaica), Gtd. Notes, 144A | 6.750 | 07/01/23 | 200 | 38,000 | |
Intelsat Jackson Holdings SA (Luxembourg), Sr. Sec’d. Notes, 144A | 6.500 | 03/15/30 | 100 | 91,990 | |
Level 3 Financing, Inc., | |||||
Gtd. Notes, 144A | 4.625 | 09/15/27 | 50 | 31,198 | |
Sr. Sec’d. Notes, 144A | 3.400 | 03/01/27 | 75 | 59,289 | |
Sprint Capital Corp., Gtd. Notes | 8.750 | 03/15/32 | 50 | 60,710 | |
Sprint LLC, Gtd. Notes | 7.625 | 02/15/25 | 275 | 281,893 | |
Zayo Group Holdings, Inc., Sr. Unsec’d. Notes, 144A | 6.125 | 03/01/28 | 35 | 21,104 | |
819,012 | |||||
Total Corporate Bonds (cost $22,634,083) | 19,481,651 | ||||
Floating Rate and Other Loans 1.2% | |||||
Computers 0.1% | |||||
McAfee Corp., Tranche B-1 Term Loan, 1 Month SOFR + 3.850% | 8.843(c) | 03/01/29 | 15 | 13,971 | |
Housewares 0.4% | |||||
SWF Holdings I Corp., Initial Term Loan, PRIME + 3.000% | 10.202(c) | 10/06/28 | 99 | 81,923 | |
Insurance 0.1% | |||||
Acrisure LLC, 2021-1 Additional Term Loan, 1 Month LIBOR + 3.750% | 8.904(c) | 02/15/27 | 25 | 23,281 | |
Media 0.1% | |||||
Diamond Sports Group LLC, First Lien Term Loan, 6 Month SOFR + 8.250% | 13.064(c) | 05/25/26 | 34 | 25,720 |
15
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Floating Rate and Other Loans (Continued) | |||||
Software 0.4% | |||||
Skillsoft Finance II, Inc., Initial Term Loan, 1 Month SOFR + 5.364% | 10.419 %(c) | 07/14/28 | 117 | $99,082 | |
Telecommunications 0.1% | |||||
Digicel International Finance Ltd. (Jamaica), First Lien Initial Term B Loan, 1 Month LIBOR + 3.250% | 8.410(c) | 05/27/24 | 25 | 22,721 | |
MLN US Holdco LLC, | |||||
3L Term B Loans, 3 Month SOFR + 9.250%^ | 14.332(c) | 10/18/27 | 1 | 384 | |
Initial Term Loan, 3 Month SOFR + 6.440% | 11.522(c) | 10/18/27 | 2 | 1,649 | |
Initial Term Loan (Second Out (1st Lien Roll-Up)), 3 Month SOFR + 6.700% | 11.782(c) | 10/18/27 | 4 | 2,409 | |
27,163 | |||||
Total Floating Rate and Other Loans (cost $315,268) | 271,140 | ||||
U.S. Treasury Obligations 4.3% | |||||
U.S. Treasury Notes(k) | 2.750 | 04/30/27 | 408 | 390,819 | |
U.S. Treasury Notes | 4.250 | 09/30/24 | 615 | 609,835 | |
Total U.S. Treasury Obligations (cost $1,019,833) | 1,000,654 | ||||
Total Long-Term Investments (cost $24,885,357) | 21,667,937 |
Shares | |||||
Short-Term Investments 5.4% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Government Money Market Fund(wm) | 681,515 | 681,515 | |||
PGIM Core Short-Term Bond Fund(wm) | 37,083 | 338,195 |
16
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Affiliated Mutual Funds (Continued) | |||||
PGIM Core Ultra Short Bond Fund(wm) | 233,542 | $233,542 | |||
Total Short-Term Investments (cost $1,252,897) | 1,253,252 | ||||
TOTAL INVESTMENTS 98.9% (cost $26,138,254) | 22,921,189 | ||||
Other assets in excess of liabilities(z) 1.1% | 256,816 | ||||
Net Assets 100.0% | $23,178,005 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
EUR—Euro |
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. | |
BNP—BNP Paribas S.A. | |
BOA—Bank of America, N.A. | |
CDX—Credit Derivative Index | |
CLO—Collateralized Loan Obligation | |
iBoxx—Bond Market Indices | |
LIBOR—London Interbank Offered Rate | |
LP—Limited Partnership | |
OTC—Over-the-counter | |
PIK—Payment-in-Kind | |
Q—Quarterly payment frequency for swaps | |
REITs—Real Estate Investment Trust | |
SOFR—Secured Overnight Financing Rate | |
T—Swap payment upon termination | |
TD—The Toronto-Dominion Bank |
# | 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 $384 and 0.0% of net assets. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at May 31, 2023. |
(d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
(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 $155,377. The aggregate value of $148,406 is 0.6% 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. |
(k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
(oo) | Perpetual security. Maturity date represents next call date. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
(wm) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Government Money Market Fund, PGIM Core Short-Term Bond Fund and PGIM Core Ultra Short Bond Fund, if applicable. |
17
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Futures contracts outstanding at May 31, 2023: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
1 | 2 Year U.S. Treasury Notes | Sep. 2023 | $205,828 | $(181) | ||||
8 | 5 Year U.S. Treasury Notes | Sep. 2023 | 872,625 | (5,473) | ||||
1 | 20 Year U.S. Treasury Bonds | Sep. 2023 | 128,344 | 1,506 | ||||
1 | 30 Year U.S. Ultra Treasury Bonds | Sep. 2023 | 136,875 | 1,902 | ||||
(2,246) | ||||||||
Short Position: | ||||||||
4 | 10 Year U.S. Treasury Notes | Sep. 2023 | 457,875 | (139) | ||||
$(2,385) |
Forward foreign currency exchange contracts outstanding at May 31, 2023:
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Euro, | |||||||||||||
Expiring 06/02/23 | TD | EUR | 98 | $104,949 | $104,229 | $— | $(720) |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Euro, | |||||||||||||
Expiring 06/02/23 | BOA | EUR | 98 | $107,486 | $104,230 | $3,256 | $— | ||||||
Expiring 07/05/23 | TD | EUR | 98 | 105,152 | 104,433 | 719 | — | ||||||
$212,638 | $208,663 | 3,975 | — | ||||||||||
$3,975 | $(720) |
18
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Credit default swap agreements outstanding at May 31, 2023:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at May 31, 2023(4) | Value at Trade Date | Value at May 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2): | |||||||||||||||
CDX.NA.HY.40.V1 | 06/20/28 | 5.000%(Q) | 1,237 | 4.729% | $(1,045) | $25,736 | $26,781 |
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 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. |
19
PGIM ESG High Yield Fund
Schedule of Investments as of May 31, 2023 (unaudited) (continued)
Total return swap agreements outstanding at May 31, 2023: | ||||||||||||||
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 Investment Grade Index(T) | 1 Day SOFR(Q)/ 5.080% | BNP | 06/20/23 | (200) | $3,712 | $— | $3,712 | |||||||
iBoxx US Dollar Liquid Investment Grade Index(T) | 1 Day SOFR(Q)/ 5.080% | BNP | 09/20/23 | (200) | 3,580 | — | 3,580 | |||||||
$7,292 | $— | $7,292 |
(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).
20