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Prudential Series Fund similar filings
- 25 May 23 PSF Global Portfolio (Mar 2023 report)
- 25 May 23 PSF Mid-Cap Growth Portfolio (Mar 2023 report)
- 25 May 23 PSF PGIM Total Return Bond Portfolio (Mar 2023 report)
- 25 May 23 PSF PGIM Flexible Managed Portfolio (Mar 2023 report)
- 25 May 23 PSF PGIM 50/50 Balanced Portfolio (Mar 2023 report)
- 25 May 23 PSF PGIM Jennison Blend Portfolio (Mar 2023 report)
- 25 May 23 PSF PGIM Government Income Portfolio (Mar 2023 report)
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PSF PGIM FLEXIBLE MANAGED
PORTFOLIO
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Shares | Value | |||||
Long-Term Investments — 95.2% | ||||||
Common Stocks — 58.7% | ||||||
Aerospace & Defense — 1.1% | ||||||
BAE Systems PLC (United Kingdom) | 4,200 | $50,804 | ||||
General Dynamics Corp. | 59,800 | 13,646,958 | ||||
Howmet Aerospace, Inc. | 239,100 | 10,130,667 | ||||
Kongsberg Gruppen ASA (Norway) | 260 | 10,510 | ||||
Lockheed Martin Corp. | 1,600 | 756,368 | ||||
MTU Aero Engines AG (Germany) | 74 | 18,517 | ||||
Northrop Grumman Corp. | 6,400 | 2,955,008 | ||||
Raytheon Technologies Corp. | 224,600 | 21,995,078 | ||||
Rolls-Royce Holdings PLC (United Kingdom)* | 11,270 | 20,758 | ||||
49,584,668 | ||||||
Air Freight & Logistics — 0.4% | ||||||
FedEx Corp. | 68,700 | 15,697,263 | ||||
Automobile Components — 0.1% | ||||||
BorgWarner, Inc. | 104,200 | 5,117,262 | ||||
Automobiles — 1.2% | ||||||
Bayerische Motoren Werke AG (Germany) | 1,613 | 176,782 | ||||
General Motors Co. | 398,400 | 14,613,312 | ||||
Isuzu Motors Ltd. (Japan) | 800 | 9,561 | ||||
Mazda Motor Corp. (Japan) | 1,700 | 15,681 | ||||
Mercedes-Benz Group AG (Germany) | 2,691 | 206,945 | ||||
Nissan Motor Co. Ltd. (Japan) | 3,200 | 12,111 | ||||
Stellantis NV | 10,007 | 181,990 | ||||
Tesla, Inc.* | 179,100 | 37,156,086 | ||||
Toyota Motor Corp. (Japan) | 5,500 | 78,295 | ||||
Volkswagen AG (Germany) | 88 | 15,094 | ||||
52,465,857 | ||||||
Banks — 2.0% | ||||||
ABN AMRO Bank NV (Netherlands), 144A, CVA | 6,444 | 102,185 | ||||
ANZ Group Holdings Ltd. (Australia) | 11,052 | 170,313 | ||||
Banco Santander SA (Spain) | 22,873 | 85,236 | ||||
Bank Hapoalim BM (Israel) | 4,211 | 35,046 | ||||
Bank Leumi Le-Israel BM (Israel) | 2,142 | 16,204 | ||||
Bank of America Corp. | 460,300 | 13,164,580 | ||||
Bank of Ireland Group PLC (Ireland) | 1,435 | 14,520 | ||||
Barclays PLC (United Kingdom) | 24,906 | 44,828 | ||||
Citigroup, Inc. | 395,750 | 18,556,718 | ||||
Citizens Financial Group, Inc. | 151,300 | 4,594,981 | ||||
Commerzbank AG (Germany)* | 1,414 | 14,887 | ||||
Commonwealth Bank of Australia (Australia) | 383 | 25,288 | ||||
DBS Group Holdings Ltd. (Singapore) | 200 | 4,972 | ||||
Erste Group Bank AG (Austria) | 468 | 15,505 | ||||
FinecoBank Banca Fineco SpA (Italy) | 813 | 12,456 | ||||
HSBC Holdings PLC (United Kingdom) | 27,459 | 186,625 | ||||
ING Groep NV (Netherlands) | 5,020 | 59,614 | ||||
Israel Discount Bank Ltd. (Israel) (Class A Stock) | 3,668 | 18,018 | ||||
JPMorgan Chase & Co. | 130,694 | 17,030,735 | ||||
KBC Group NV (Belgium) | 1,732 | 119,007 | ||||
Lloyds Banking Group PLC (United Kingdom) | 255,219 | 150,056 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Banks (cont’d.) | ||||||
Mediobanca Banca di Credito Finanziario SpA (Italy) | 777 | $7,808 | ||||
Mizrahi Tefahot Bank Ltd. (Israel) | 456 | 14,295 | ||||
National Australia Bank Ltd. (Australia) | 4,026 | 75,018 | ||||
NatWest Group PLC (United Kingdom) | 7,202 | 23,500 | ||||
Nordea Bank Abp (Finland) | 13,742 | 146,741 | ||||
Oversea-Chinese Banking Corp. Ltd. (Singapore) | 4,600 | 42,880 | ||||
Popular, Inc. (Puerto Rico) | 14,700 | 843,927 | ||||
Skandinaviska Enskilda Banken AB (Sweden) (Class A Stock)* | 2,229 | 24,604 | ||||
Standard Chartered PLC (United Kingdom) | 3,360 | 25,466 | ||||
Sumitomo Mitsui Financial Group, Inc. (Japan) | 2,400 | 96,042 | ||||
Swedbank AB (Sweden) (Class A Stock) | 2,176 | 35,784 | ||||
Truist Financial Corp. | 281,600 | 9,602,560 | ||||
UniCredit SpA (Italy) | 7,550 | 142,301 | ||||
United Overseas Bank Ltd. (Singapore) | 300 | 6,729 | ||||
Wells Fargo & Co. | 539,300 | 20,159,034 | ||||
85,668,463 | ||||||
Beverages — 1.1% | ||||||
Coca-Cola Co. (The) | 396,800 | 24,613,504 | ||||
Coca-Cola Europacific Partners PLC (United Kingdom) | 300 | 17,757 | ||||
Diageo PLC (United Kingdom) | 295 | 13,166 | ||||
Heineken Holding NV (Netherlands) | 157 | 14,404 | ||||
Heineken NV (Netherlands) | 359 | 38,575 | ||||
PepsiCo, Inc. | 120,700 | 22,003,610 | ||||
46,701,016 | ||||||
Biotechnology — 1.2% | ||||||
AbbVie, Inc. | 111,500 | 17,769,755 | ||||
Amgen, Inc. | 37,000 | 8,944,750 | ||||
Biogen, Inc.* | 12,600 | 3,503,178 | ||||
Gilead Sciences, Inc. | 123,850 | 10,275,835 | ||||
Swedish Orphan Biovitrum AB (Sweden)* | 494 | 11,510 | ||||
United Therapeutics Corp.* | 4,600 | 1,030,216 | ||||
Vertex Pharmaceuticals, Inc.* | 37,700 | 11,878,139 | ||||
53,413,383 | ||||||
Broadline Retail — 1.5% | ||||||
Amazon.com, Inc.* | 553,500 | 57,171,015 | ||||
Macy’s, Inc. | 487,800 | 8,531,622 | ||||
Pan Pacific International Holdings Corp. (Japan) | 900 | 17,412 | ||||
65,720,049 | ||||||
Building Products — 0.1% | ||||||
AGC, Inc. (Japan) | 3,600 | 134,212 | ||||
Allegion PLC | 15,200 | 1,622,296 | ||||
Assa Abloy AB (Sweden) (Class B Stock) | 1,365 | 32,695 | ||||
Carrier Global Corp. | 99,600 | 4,556,700 |
A1
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Building Products (cont’d.) | ||||||
Cie de Saint-Gobain (France) | 666 | $37,858 | ||||
Lixil Corp. (Japan) | 400 | 6,602 | ||||
Nibe Industrier AB (Sweden) (Class B Stock) | 4,437 | 50,578 | ||||
6,440,941 | ||||||
Capital Markets — 1.6% | ||||||
3i Group PLC (United Kingdom) | 6,015 | 125,374 | ||||
Bank of New York Mellon Corp. (The) | 289,200 | 13,141,248 | ||||
Deutsche Bank AG (Germany) | 9,135 | 92,895 | ||||
Deutsche Boerse AG (Germany) | 262 | 51,014 | ||||
Goldman Sachs Group, Inc. (The) | 34,300 | 11,219,873 | ||||
Hargreaves Lansdown PLC (United Kingdom) | 3,428 | 33,959 | ||||
Intercontinental Exchange, Inc. | 44,000 | 4,588,760 | ||||
Invesco Ltd. | 497,400 | 8,157,360 | ||||
Japan Exchange Group, Inc. (Japan) | 700 | 10,706 | ||||
Julius Baer Group Ltd. (Switzerland) | 294 | 20,083 | ||||
Macquarie Group Ltd. (Australia) | 1,812 | 214,540 | ||||
MarketAxess Holdings, Inc. | 35,100 | 13,734,279 | ||||
Morgan Stanley | 42,200 | 3,705,160 | ||||
MSCI, Inc. | 12,600 | 7,052,094 | ||||
Singapore Exchange Ltd. (Singapore) | 2,500 | 17,704 | ||||
St. James’s Place PLC (United Kingdom) | 756 | 11,344 | ||||
State Street Corp. | 21,100 | 1,597,059 | ||||
UBS Group AG (Switzerland) | 8,869 | 187,675 | ||||
Virtu Financial, Inc. (Class A Stock) | 307,400 | 5,809,860 | ||||
69,770,987 | ||||||
Chemicals — 0.9% | ||||||
Air Products & Chemicals, Inc. | 14,800 | 4,250,708 | ||||
Albemarle Corp. | 54,800 | 12,112,992 | ||||
ICL Group Ltd. (Israel) | 2,068 | 14,012 | ||||
Linde PLC | 23,600 | 8,388,384 | ||||
LyondellBasell Industries NV (Class A Stock) | 101,500 | 9,529,835 | ||||
Mosaic Co. (The)(a) | 32,200 | 1,477,336 | ||||
PPG Industries, Inc. | 35,400 | 4,728,732 | ||||
Shin-Etsu Chemical Co. Ltd. (Japan) | 2,500 | 81,153 | ||||
Solvay SA (Belgium) | 1,489 | 170,291 | ||||
Tosoh Corp. (Japan) | 800 | 10,871 | ||||
Yara International ASA (Brazil) | 223 | 9,692 | ||||
40,774,006 | ||||||
Commercial Services & Supplies — 0.2% | ||||||
Brambles Ltd. (Australia) | 4,120 | 37,147 | ||||
Clean Harbors, Inc.* | 8,700 | 1,240,272 | ||||
Copart, Inc.* | 57,400 | 4,317,054 | ||||
Dai Nippon Printing Co. Ltd. (Japan) | 4,200 | 117,594 | ||||
Waste Management, Inc. | 32,100 | 5,237,757 | ||||
10,949,824 | ||||||
Communications Equipment — 0.7% | ||||||
Cisco Systems, Inc. | 549,300 | 28,714,658 | ||||
Nokia OYJ (Finland) | 7,492 | 36,777 | ||||
28,751,435 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Construction & Engineering — 0.0% | ||||||
ACS Actividades de Construccion y Servicios SA (Spain) | 300 | $9,555 | ||||
Eiffage SA (France) | 250 | 27,054 | ||||
Skanska AB (Sweden) (Class B Stock) | 980 | 15,010 | ||||
Vinci SA (France) | 2,132 | 244,418 | ||||
296,037 | ||||||
Construction Materials — 0.2% | ||||||
Eagle Materials, Inc. | 54,200 | 7,953,850 | ||||
HeidelbergCement AG (Germany) | 192 | 14,019 | ||||
Holcim AG* | 762 | 49,143 | ||||
8,017,012 | ||||||
Consumer Finance — 0.2% | ||||||
Synchrony Financial | 335,500 | 9,756,340 | ||||
Consumer Staples Distribution & Retail — 1.0% | ||||||
Albertson’s Cos., Inc. (Class A Stock) | 178,300 | 3,705,074 | ||||
Carrefour SA (France) | 794 | 16,053 | ||||
Coles Group Ltd. (Australia) | 1,829 | 22,099 | ||||
Costco Wholesale Corp. | 55,700 | 27,675,659 | ||||
Dollar General Corp. | 6,700 | 1,410,082 | ||||
Endeavour Group Ltd. (Australia) | 3,910 | 17,764 | ||||
J Sainsbury PLC (United Kingdom) | 4,128 | 14,205 | ||||
Kesko OYJ (Finland) (Class B Stock) | 370 | 7,952 | ||||
Koninklijke Ahold Delhaize NV (Netherlands) | 6,113 | 208,852 | ||||
Kroger Co. (The)(a) | 75,300 | 3,717,561 | ||||
Target Corp.(a) | 5,700 | 944,091 | ||||
Tesco PLC (United Kingdom) | 9,998 | 32,778 | ||||
Walmart, Inc. | 52,800 | 7,785,360 | ||||
Woolworths Group Ltd. (Australia) | 1,666 | 42,354 | ||||
45,599,884 | ||||||
Containers & Packaging — 0.3% | ||||||
Berry Global Group, Inc. | 15,200 | 895,280 | ||||
Westrock Co. | 343,500 | 10,466,445 | ||||
11,361,725 | ||||||
Distributors — 0.2% | ||||||
LKQ Corp. | 155,200 | 8,809,152 | ||||
Diversified REITs — 0.0% | ||||||
GPT Group (The) (Australia) | 5,640 | 16,118 | ||||
Nomura Real Estate Master Fund, Inc. (Japan) | 5 | 5,603 | ||||
Stockland (Australia) | 7,056 | 18,894 | ||||
40,615 | ||||||
Diversified Telecommunication Services — 0.4% | ||||||
AT&T, Inc. | 652,100 | 12,552,925 | ||||
Bezeq The Israeli Telecommunication Corp. Ltd. (Israel) | 2,901 | 3,950 | ||||
Deutsche Telekom AG (Germany) | 633 | 15,339 | ||||
Elisa OYJ (Finland) | 194 | 11,701 | ||||
HKT Trust & HKT Ltd. (Hong Kong) | 11,000 | 14,602 | ||||
Koninklijke KPN NV (Netherlands) | 24,166 | 85,392 | ||||
Swisscom AG (Switzerland) | 177 | 112,957 |
A2
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Diversified Telecommunication Services (cont’d.) | ||||||
Telefonica Deutschland Holding AG (Germany) | 52,695 | $162,208 | ||||
Verizon Communications, Inc. | 134,888 | 5,245,794 | ||||
18,204,868 | ||||||
Electric Utilities — 1.0% | ||||||
CK Infrastructure Holdings Ltd. (Hong Kong) | 2,000 | 10,882 | ||||
Duke Energy Corp. | 36,400 | 3,511,508 | ||||
Endesa SA (Spain) | 3,866 | 83,969 | ||||
Enel SpA (Italy) | 11,186 | 68,223 | ||||
Entergy Corp. | 50,900 | 5,483,966 | ||||
Evergy, Inc. | 14,700 | 898,464 | ||||
Exelon Corp. | 366,300 | 15,344,307 | ||||
FirstEnergy Corp. | 26,400 | 1,057,584 | ||||
NRG Energy, Inc. | 385,600 | 13,222,224 | ||||
Pinnacle West Capital Corp.(a) | 43,300 | 3,431,092 | ||||
SSE PLC (United Kingdom) | 7,485 | 167,019 | ||||
43,279,238 | ||||||
Electrical Equipment — 0.2% | ||||||
ABB Ltd. (Switzerland) | 2,156 | 74,169 | ||||
Acuity Brands, Inc.(a) | 17,500 | 3,197,775 | ||||
Eaton Corp. PLC | 14,700 | 2,518,698 | ||||
Emerson Electric Co. | 30,400 | 2,649,056 | ||||
Fuji Electric Co. Ltd. (Japan) | 300 | 11,847 | ||||
Prysmian SpA (Italy) | 775 | 32,543 | ||||
Schneider Electric SE | 740 | 123,672 | ||||
Vertiv Holdings Co. | 54,000 | 772,740 | ||||
9,380,500 | ||||||
Electronic Equipment, Instruments & Components — 0.3% | ||||||
Corning, Inc. | 95,800 | 3,379,824 | ||||
Keysight Technologies, Inc.* | 18,700 | 3,019,676 | ||||
Omron Corp. (Japan) | 2,400 | 140,465 | ||||
Shimadzu Corp. (Japan) | 300 | 9,418 | ||||
TD SYNNEX Corp. | 8,000 | 774,320 | ||||
TDK Corp. (Japan) | 500 | 17,948 | ||||
TE Connectivity Ltd. | 18,600 | 2,439,390 | ||||
Vontier Corp. | 63,000 | 1,722,420 | ||||
Yokogawa Electric Corp. (Japan) | 8,000 | 130,268 | ||||
11,633,729 | ||||||
Energy Equipment & Services — 0.3% | ||||||
Halliburton Co. | 371,200 | 11,744,768 | ||||
Schlumberger NV | 52,600 | 2,582,660 | ||||
14,327,428 | ||||||
Entertainment — 0.9% | ||||||
Electronic Arts, Inc. | 110,300 | 13,285,635 | ||||
Netflix, Inc.* | 70,400 | 24,321,792 | ||||
Nexon Co. Ltd. (Japan) | 600 | 14,327 | ||||
Walt Disney Co. (The)* | 33,300 | 3,334,329 | ||||
40,956,083 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Financial Services — 2.5% | ||||||
Berkshire Hathaway, Inc. (Class B Stock)* | 117,050 | $36,141,529 | ||||
Industrivarden AB (Sweden) (Class A Stock) | 380 | 10,270 | ||||
Investor AB (Sweden) (Class A Stock) | 683 | 13,937 | ||||
Mastercard, Inc. (Class A Stock) | 54,300 | 19,733,163 | ||||
ORIX Corp. (Japan) | 11,000 | 181,368 | ||||
PayPal Holdings, Inc.* | 226,900 | 17,230,786 | ||||
Visa, Inc. (Class A Stock)(a) | 159,400 | 35,938,324 | ||||
Voya Financial, Inc.(a) | 11,700 | 836,082 | ||||
110,085,459 | ||||||
Food Products — 0.8% | ||||||
Archer-Daniels-Midland Co. | 92,800 | 7,392,448 | ||||
Edita Food Industries SAE (Egypt), 144A, GDR^ | 158 | 371 | ||||
Hershey Co. (The) | 54,800 | 13,941,668 | ||||
Lamb Weston Holdings, Inc. | 119,400 | 12,479,688 | ||||
Mondelez International, Inc. (Class A Stock) | 12,200 | 850,584 | ||||
Mowi ASA (Norway) | 7,583 | 140,255 | ||||
Nestle SA | 2,774 | 338,235 | ||||
WH Group Ltd. (Hong Kong), 144A | 114,500 | 68,259 | ||||
Wilmar International Ltd. (China) | 51,600 | 163,475 | ||||
35,374,983 | ||||||
Gas Utilities — 0.1% | ||||||
Enagas SA (Spain) | 3,486 | 66,986 | ||||
Osaka Gas Co. Ltd. (Japan) | 7,000 | 114,995 | ||||
Tokyo Gas Co. Ltd. (Japan) | 6,600 | 124,035 | ||||
UGI Corp. | 182,100 | 6,329,796 | ||||
6,635,812 | ||||||
Ground Transportation — 0.4% | ||||||
CSX Corp. | 243,600 | 7,293,384 | ||||
Ryder System, Inc. | 33,600 | 2,998,464 | ||||
Schneider National, Inc. (Class B Stock) | 29,300 | 783,775 | ||||
Union Pacific Corp. | 24,800 | 4,991,248 | ||||
16,066,871 | ||||||
Health Care Equipment & Supplies — 1.7% | ||||||
Abbott Laboratories | 238,900 | 24,191,014 | ||||
Alcon, Inc. (Switzerland) | 516 | 36,630 | ||||
Baxter International, Inc. | 188,800 | 7,657,728 | ||||
Becton, Dickinson & Co. | 3,400 | 841,636 | ||||
Boston Scientific Corp.* | 16,000 | 800,480 | ||||
Cochlear Ltd. (Australia) | 90 | 14,328 | ||||
DENTSPLY SIRONA, Inc. | 36,400 | 1,429,792 | ||||
Hologic, Inc.* | 53,400 | 4,309,380 | ||||
Hoya Corp. (Japan) | 500 | 55,256 | ||||
IDEXX Laboratories, Inc.* | 4,500 | 2,250,360 | ||||
Medtronic PLC | 179,900 | 14,503,538 | ||||
Stryker Corp. | 28,900 | 8,250,083 | ||||
Zimmer Biomet Holdings, Inc. | 65,600 | 8,475,520 | ||||
72,815,745 |
A3
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Health Care Providers & Services — 1.9% | ||||||
Cardinal Health, Inc. | 100,500 | $7,587,750 | ||||
Cigna Group (The) | 44,200 | 11,294,426 | ||||
CVS Health Corp. | 125,300 | 9,311,043 | ||||
Elevance Health, Inc. | 9,300 | 4,276,233 | ||||
Fresenius SE & Co. KGaA (Germany) | 580 | 15,662 | ||||
Humana, Inc. | 14,300 | 6,942,078 | ||||
Sonic Healthcare Ltd. (Australia) | 7,327 | 171,766 | ||||
UnitedHealth Group, Inc. | 90,500 | 42,769,395 | ||||
82,368,353 | ||||||
Health Care REITs — 0.2% | ||||||
Ventas, Inc. | 179,000 | 7,759,650 | ||||
Hotel & Resort REITs — 0.1% | ||||||
Park Hotels & Resorts, Inc.(a) | 235,900 | 2,915,724 | ||||
Hotels, Restaurants & Leisure — 1.4% | ||||||
Accor SA (France)* | 520 | 16,906 | ||||
Aristocrat Leisure Ltd. (Australia) | 619 | 15,477 | ||||
Booking Holdings, Inc.* | 800 | 2,121,928 | ||||
Darden Restaurants, Inc.(a) | 45,000 | 6,982,200 | ||||
Genting Singapore Ltd. (Singapore) | 18,200 | 15,361 | ||||
Hilton Worldwide Holdings, Inc. | 30,200 | 4,254,274 | ||||
Las Vegas Sands Corp.* | 13,500 | 775,575 | ||||
Lottery Corp. Ltd. (The) (Australia) | 6,630 | 22,803 | ||||
Marriott International, Inc. (Class A Stock) | 93,500 | 15,524,740 | ||||
McDonald’s Corp. | 14,700 | 4,110,267 | ||||
Meituan (China) (Class B Stock), 144A* | 920 | 16,691 | ||||
Starbucks Corp. | 205,700 | 21,419,541 | ||||
Whitbread PLC (United Kingdom) | 4,677 | 172,774 | ||||
Yum! Brands, Inc. | 29,700 | 3,922,776 | ||||
59,371,313 | ||||||
Household Durables — 0.1% | ||||||
Lennar Corp. (Class A Stock) | 36,100 | 3,794,471 | ||||
Sekisui House Ltd. (Japan) | 7,000 | 142,669 | ||||
Sharp Corp. (Japan)* | 17,400 | 123,026 | ||||
Sony Group Corp. (Japan) | 1,700 | 154,842 | ||||
4,215,008 | ||||||
Household Products — 1.0% | ||||||
Colgate-Palmolive Co. | 218,200 | 16,397,730 | ||||
Essity AB (Sweden) (Class B Stock) | 1,820 | 51,986 | ||||
Henkel AG & Co. KGaA (Germany) | 144 | 10,476 | ||||
Procter & Gamble Co. (The) | 171,605 | 25,515,948 | ||||
Reckitt Benckiser Group PLC (United Kingdom) | 986 | 75,012 | ||||
42,051,152 | ||||||
Independent Power & Renewable Electricity Producers — 0.0% | ||||||
AES Corp. (The) | 70,300 | 1,692,824 | ||||
Meridian Energy Ltd. (New Zealand) | 4,020 | 13,225 | ||||
RWE AG (Germany) | 880 | 37,865 | ||||
1,743,914 | ||||||
Industrial Conglomerates — 0.6% | ||||||
3M Co. | 85,700 | 9,007,927 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Industrial Conglomerates (cont’d.) | ||||||
General Electric Co. | 17,000 | $1,625,200 | ||||
Honeywell International, Inc. | 83,200 | 15,901,184 | ||||
Jardine Cycle & Carriage Ltd. (Singapore) | 1,400 | 32,969 | ||||
Jardine Matheson Holdings Ltd. (Hong Kong) | 1,300 | 63,235 | ||||
Lifco AB (Sweden) (Class B Stock) | 736 | 15,870 | ||||
Siemens AG (Germany) | 1,038 | 168,160 | ||||
26,814,545 | ||||||
Industrial REITs — 0.1% | ||||||
Americold Realty Trust, Inc. | 186,800 | 5,314,460 | ||||
CapitaLand Ascendas REIT (Singapore) | 4,600 | 9,918 | ||||
Goodman Group (Australia) | 14,535 | 184,447 | ||||
5,508,825 | ||||||
Insurance — 1.2% | ||||||
Ageas SA/NV (Belgium) | 718 | 31,060 | ||||
AIA Group Ltd. (Hong Kong) | 4,200 | 44,047 | ||||
Allstate Corp. (The) | 38,100 | 4,221,861 | ||||
American International Group, Inc. | 132,400 | 6,667,664 | ||||
Aon PLC (Class A Stock) | 9,400 | 2,963,726 | ||||
Assicurazioni Generali SpA (Italy) | 1,512 | 30,126 | ||||
AXA SA (France) | 7,833 | 239,044 | ||||
Baloise Holding AG (Switzerland) | 63 | 9,810 | ||||
Marsh & McLennan Cos., Inc. | 52,500 | 8,743,875 | ||||
Medibank Private Ltd. (Australia) | 34,610 | 78,103 | ||||
MetLife, Inc. | 192,500 | 11,153,450 | ||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany) | 191 | 66,781 | ||||
NN Group NV (Netherlands) | 378 | 13,725 | ||||
Poste Italiane SpA (Italy), 144A | 15,974 | 162,896 | ||||
Progressive Corp. (The) | 114,800 | 16,423,288 | ||||
QBE Insurance Group Ltd. (Australia) | 1,247 | 12,209 | ||||
Sampo OYJ (Finland) (Class A Stock) | 661 | 31,189 | ||||
Suncorp Group Ltd. (Australia) | 2,575 | 20,922 | ||||
Swiss Life Holding AG (Switzerland) | 253 | 156,128 | ||||
T&D Holdings, Inc. (Japan) | 700 | 8,676 | ||||
Unum Group | 56,100 | 2,219,316 | ||||
53,297,896 | ||||||
Interactive Media & Services — 2.9% | ||||||
Alphabet, Inc. (Class A Stock)* | 427,200 | 44,313,456 | ||||
Alphabet, Inc. (Class C Stock)* | 370,840 | 38,567,360 | ||||
Meta Platforms, Inc. (Class A Stock)* | 206,850 | 43,839,789 | ||||
Scout24 SE (Germany), 144A | 234 | 13,918 | ||||
126,734,523 | ||||||
IT Services — 0.7% | ||||||
Accenture PLC (Class A Stock) | 64,250 | 18,363,293 | ||||
Cognizant Technology Solutions Corp. (Class A Stock) | 26,800 | 1,632,924 | ||||
DXC Technology Co.* | 30,600 | 782,136 | ||||
International Business Machines Corp. | 66,900 | 8,769,921 | ||||
Nomura Research Institute Ltd. (Japan) | 500 | 11,694 |
A4
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
IT Services (cont’d.) | ||||||
Otsuka Corp. (Japan) | 100 | $3,551 | ||||
SCSK Corp. (Japan) | 200 | 2,928 | ||||
Wix.com Ltd. (Israel)* | 200 | 19,960 | ||||
29,586,407 | ||||||
Life Sciences Tools & Services — 1.0% | ||||||
Agilent Technologies, Inc. | 59,900 | 8,286,566 | ||||
Danaher Corp. | 3,700 | 932,548 | ||||
Mettler-Toledo International, Inc.* | 600 | 918,126 | ||||
Sotera Health Co.* | 433,500 | 7,763,985 | ||||
Thermo Fisher Scientific, Inc. | 41,700 | 24,034,629 | ||||
41,935,854 | ||||||
Machinery — 1.2% | ||||||
AGCO Corp. | 8,000 | 1,081,600 | ||||
Alfa Laval AB (Sweden) | 390 | 13,926 | ||||
ANDRITZ AG (Austria) | 1,776 | 120,172 | ||||
Atlas Copco AB (Sweden) (Class B Stock) | 2,154 | 24,777 | ||||
Caterpillar, Inc. | 41,900 | 9,588,396 | ||||
CNH Industrial NV (United Kingdom) | 11,848 | 181,288 | ||||
Daimler Truck Holding AG (Germany)* | 609 | 20,553 | ||||
Deere & Co. | 29,700 | 12,262,536 | ||||
Donaldson Co., Inc. | 17,000 | 1,110,780 | ||||
Dover Corp. | 33,800 | 5,135,572 | ||||
Epiroc AB (Sweden) (Class A Stock) | 890 | 17,667 | ||||
Epiroc AB (Sweden) (Class B Stock) | 1,075 | 18,329 | ||||
Esab Corp. | 32,300 | 1,907,961 | ||||
GEA Group AG (Germany) | 3,536 | 161,304 | ||||
Hitachi Construction Machinery Co. Ltd. (Japan) | 100 | 2,331 | ||||
Hoshizaki Corp. (Japan) | 100 | 3,694 | ||||
Indutrade AB (Sweden) | 320 | 6,810 | ||||
Komatsu Ltd. (Japan) | 1,200 | 29,790 | ||||
MINEBEA MITSUMI, Inc. (Japan) | 500 | 9,548 | ||||
Otis Worldwide Corp. | 9,500 | 801,800 | ||||
PACCAR, Inc. | 148,700 | 10,884,840 | ||||
Parker-Hannifin Corp. | 20,800 | 6,991,088 | ||||
Rational AG (Germany) | 49 | 32,937 | ||||
Schindler Holding AG (Switzerland) | 55 | 11,639 | ||||
Schindler Holding AG (Switzerland) (Part. Cert.) | 56 | 12,408 | ||||
SKF AB (Sweden) (Class B Stock) | 506 | 9,967 | ||||
Timken Co. (The) | 10,600 | 866,232 | ||||
Toyota Industries Corp. (Japan) | 200 | 11,142 | ||||
Volvo AB (Sweden) (Class A Stock) | 612 | 13,164 | ||||
Volvo AB (Sweden) (Class B Stock)(a) | 2,040 | 42,038 | ||||
51,374,289 | ||||||
Marine Transportation — 0.0% | ||||||
AP Moller - Maersk A/S (Denmark) (Class A Stock) | 4 | 7,096 | ||||
SITC International Holdings Co. Ltd. (China) | 2,000 | 4,299 | ||||
11,395 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Media — 0.3% | ||||||
Comcast Corp. (Class A Stock) | 365,100 | $13,840,941 | ||||
Dentsu Group, Inc. (Japan) | 600 | 21,149 | ||||
Hakuhodo DY Holdings, Inc. (Japan) | 11,700 | 132,648 | ||||
Informa PLC (United Kingdom) | 17,110 | 146,658 | ||||
Liberty Broadband Corp. (Class C Stock)* | 9,500 | 776,150 | ||||
Publicis Groupe SA (France) | 2,380 | 185,782 | ||||
WPP PLC (United Kingdom) | 1,488 | 17,679 | ||||
15,121,007 | ||||||
Metals & Mining — 0.2% | ||||||
ArcelorMittal SA (Luxembourg) | 5,053 | 153,087 | ||||
BHP Group Ltd. (Australia) | 12,032 | 380,379 | ||||
BlueScope Steel Ltd. (Australia) | 10,021 | 135,638 | ||||
Boliden AB (Sweden) | 364 | 14,299 | ||||
Fortescue Metals Group Ltd. (Australia) | 2,291 | 34,437 | ||||
Glencore PLC (Australia) | 5,403 | 31,090 | ||||
JFE Holdings, Inc. (Japan) | 1,500 | 19,039 | ||||
Nippon Steel Corp. (Japan) | 7,900 | 186,294 | ||||
Norsk Hydro ASA (Norway) | 1,776 | 13,255 | ||||
Pilbara Minerals Ltd. (Australia) | 3,125 | 8,314 | ||||
Rio Tinto Ltd. (Australia) | 504 | 40,496 | ||||
Rio Tinto PLC (Australia) | 1,513 | 102,699 | ||||
South32 Ltd. (Australia) | 6,175 | 18,097 | ||||
Steel Dynamics, Inc. | 30,600 | 3,459,636 | ||||
Sumitomo Metal Mining Co. Ltd. (Japan) | 400 | 15,306 | ||||
United States Steel Corp. | 108,300 | 2,826,630 | ||||
voestalpine AG (Austria) | 338 | 11,493 | ||||
7,450,189 | ||||||
Multi-Utilities — 0.4% | ||||||
Ameren Corp. | 11,200 | 967,568 | ||||
DTE Energy Co. | 42,000 | 4,600,680 | ||||
E.ON SE (Germany) | 15,827 | 197,437 | ||||
Engie SA (France) | 2,487 | 39,356 | ||||
NiSource, Inc. | 209,100 | 5,846,436 | ||||
Sempra Energy | 28,900 | 4,368,524 | ||||
16,020,001 | ||||||
Office REITs — 0.1% | ||||||
Hudson Pacific Properties, Inc.(a) | 342,100 | 2,274,965 | ||||
Japan Real Estate Investment Corp. (Japan) | 35 | 139,483 | ||||
2,414,448 | ||||||
Oil, Gas & Consumable Fuels — 2.4% | ||||||
BP PLC (United Kingdom) | 49,242 | 311,235 | ||||
Cheniere Energy, Inc. | 11,600 | 1,828,160 | ||||
Chevron Corp. | 88,800 | 14,488,608 | ||||
ConocoPhillips | 187,600 | 18,611,796 | ||||
Equinor ASA (Norway) | 6,738 | 191,551 | ||||
Exxon Mobil Corp. | 418,900 | 45,936,574 | ||||
Hess Corp. | 19,500 | 2,580,630 | ||||
Inpex Corp. (Japan) | 1,400 | 14,816 | ||||
Marathon Petroleum Corp. | 61,800 | 8,332,494 | ||||
ONEOK, Inc. | 26,400 | 1,677,456 |
A5
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Oil, Gas & Consumable Fuels (cont’d.) | ||||||
Phillips 66 | 16,400 | $1,662,632 | ||||
Pioneer Natural Resources Co. | 11,600 | 2,369,184 | ||||
Repsol SA (Spain) | 1,852 | 28,480 | ||||
Shell PLC (Netherlands) | 11,410 | 325,169 | ||||
TotalEnergies SE (France) | 4,428 | 261,091 | ||||
Valero Energy Corp. | 50,300 | 7,021,880 | ||||
105,641,756 | ||||||
Paper & Forest Products — 0.0% | ||||||
Oji Holdings Corp. (Japan) | 2,500 | 9,898 | ||||
Passenger Airlines — 0.2% | ||||||
Alaska Air Group, Inc.* | 223,600 | 9,382,256 | ||||
Deutsche Lufthansa AG (Germany)* | 15,956 | 177,471 | ||||
Qantas Airways Ltd. (Australia)* | 28,933 | 129,141 | ||||
Singapore Airlines Ltd. (Singapore) | 4,200 | 18,116 | ||||
United Airlines Holdings, Inc.* | 22,200 | 982,350 | ||||
10,689,334 | ||||||
Personal Care Products — 0.0% | ||||||
Kao Corp. (Japan) | 600 | 23,355 | ||||
L’Oreal SA (France) | 334 | 149,245 | ||||
Unilever PLC (United Kingdom) | 3,495 | 181,108 | ||||
353,708 | ||||||
Pharmaceuticals — 2.6% | ||||||
Astellas Pharma, Inc. (Japan) | 2,500 | 35,518 | ||||
AstraZeneca PLC (United Kingdom) | 1,260 | 174,579 | ||||
Bayer AG (Germany) | 1,327 | 84,771 | ||||
Bristol-Myers Squibb Co. | 201,900 | 13,993,689 | ||||
Chugai Pharmaceutical Co. Ltd. (Japan) | 900 | 22,223 | ||||
Eli Lilly & Co. | 34,300 | 11,779,306 | ||||
GSK PLC | 14,465 | 255,587 | ||||
Ipsen SA (France) | 566 | 62,323 | ||||
Johnson & Johnson | 225,048 | 34,882,440 | ||||
Merck & Co., Inc. | 287,200 | 30,555,208 | ||||
Novartis AG (Switzerland) | 4,680 | 429,711 | ||||
Novo Nordisk A/S (Denmark) (Class B Stock) | 3,293 | 522,999 | ||||
Ono Pharmaceutical Co. Ltd. (Japan) | 6,400 | 133,364 | ||||
Orion OYJ (Finland) (Class B Stock) | 323 | 14,437 | ||||
Otsuka Holdings Co. Ltd. (Japan) | 500 | 15,875 | ||||
Pfizer, Inc. | 481,600 | 19,649,280 | ||||
Roche Holding AG | 975 | 278,599 | ||||
Sanofi | 2,980 | 323,267 | ||||
Shionogi & Co. Ltd. (Japan) | 300 | 13,532 | ||||
113,226,708 | ||||||
Professional Services — 0.4% | ||||||
Automatic Data Processing, Inc. | 27,800 | 6,189,114 | ||||
BayCurrent Consulting, Inc. (Japan) | 3,200 | 132,858 | ||||
Dun & Bradstreet Holdings, Inc. | 259,100 | 3,041,834 | ||||
Leidos Holdings, Inc. | 78,100 | 7,189,886 | ||||
Randstad NV (Netherlands) | 1,197 | 71,060 | ||||
Wolters Kluwer NV (Netherlands) | 784 | 98,969 | ||||
16,723,721 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Real Estate Management & Development — 0.0% | ||||||
CK Asset Holdings Ltd. (Hong Kong) | 2,500 | $15,157 | ||||
Daito Trust Construction Co. Ltd. (Japan) | 1,600 | 159,408 | ||||
Mitsui Fudosan Co. Ltd. (Japan) | 1,200 | 22,541 | ||||
New World Development Co. Ltd. (Hong Kong) | 5,000 | 13,403 | ||||
Nomura Real Estate Holdings, Inc. (Japan) | 100 | 2,214 | ||||
Sino Land Co. Ltd. (Hong Kong) | 4,000 | 5,409 | ||||
Swire Pacific Ltd. (Hong Kong) (Class A Stock) | 1,500 | 11,528 | ||||
Wharf Real Estate Investment Co. Ltd. (Hong Kong) | 2,000 | 11,515 | ||||
241,175 | ||||||
Residential REITs — 0.1% | ||||||
American Homes 4 Rent (Class A Stock) | 27,200 | 855,440 | ||||
Equity Residential | 44,800 | 2,688,000 | ||||
3,543,440 | ||||||
Retail REITs — 0.1% | ||||||
Realty Income Corp.(a) | 12,800 | 810,496 | ||||
Scentre Group (Australia) | 7,020 | 12,995 | ||||
Simon Property Group, Inc. | 16,200 | 1,813,914 | ||||
Unibail-Rodamco-Westfield (France)* | 160 | 8,609 | ||||
Vicinity Ltd. (Australia) | 11,837 | 15,481 | ||||
2,661,495 | ||||||
Semiconductors & Semiconductor Equipment — 3.7% | ||||||
Allegro MicroSystems, Inc. (Japan)*(a) | 46,400 | 2,226,736 | ||||
Analog Devices, Inc. | 34,800 | 6,863,256 | ||||
ASM International NV (Netherlands) | 64 | 25,978 | ||||
ASML Holding NV (Netherlands) | 571 | 389,107 | ||||
Broadcom, Inc. | 44,100 | 28,291,914 | ||||
First Solar, Inc.* | 61,200 | 13,311,000 | ||||
Infineon Technologies AG (Germany) | 3,027 | 124,304 | ||||
KLA Corp. | 3,000 | 1,197,510 | ||||
Lam Research Corp. | 29,100 | 15,426,492 | ||||
NVIDIA Corp. | 228,000 | 63,331,560 | ||||
NXP Semiconductors NV (China) | 51,800 | 9,659,405 | ||||
QUALCOMM, Inc. | 160,000 | 20,412,800 | ||||
Renesas Electronics Corp. (Japan)* | 1,600 | 23,169 | ||||
STMicroelectronics NV (Singapore) | 4,184 | 222,939 | ||||
SUMCO Corp. (Japan) | 10,900 | 163,979 | ||||
161,670,149 | ||||||
Software — 5.6% | ||||||
Adobe, Inc.* | 64,550 | 24,875,634 | ||||
Check Point Software Technologies Ltd. (Israel)* | 100 | 13,000 | ||||
Lumine Group, Inc. (Canada)* | 168 | 1,829 | ||||
Microsoft Corp. | 552,300 | 159,228,090 | ||||
Oracle Corp. (Japan) | 1,400 | 101,109 | ||||
Palo Alto Networks, Inc.* | 54,400 | 10,865,856 | ||||
Roper Technologies, Inc. | 8,400 | 3,701,796 | ||||
Salesforce, Inc.* | 90,200 | 18,020,156 |
A6
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Software (cont’d.) | ||||||
SAP SE (Germany) | 330 | $41,669 | ||||
ServiceNow, Inc.* | 31,000 | 14,406,320 | ||||
Synopsys, Inc.* | 33,800 | 13,055,250 | ||||
Teradata Corp.* | 33,600 | 1,353,408 | ||||
Trend Micro, Inc. (Japan) | 200 | 9,812 | ||||
WiseTech Global Ltd. (Australia) | 201 | 8,855 | ||||
Xero Ltd. (New Zealand)* | 889 | 53,919 | ||||
245,736,703 | ||||||
Specialized REITs — 0.8% | ||||||
American Tower Corp. | 64,300 | 13,139,062 | ||||
Digital Realty Trust, Inc. | 52,000 | 5,112,120 | ||||
Equinix, Inc. | 1,800 | 1,297,872 | ||||
Iron Mountain, Inc.(a) | 35,100 | 1,857,141 | ||||
Public Storage | 34,300 | 10,363,402 | ||||
SBA Communications Corp. | 7,300 | 1,905,811 | ||||
Weyerhaeuser Co. | 55,300 | 1,666,189 | ||||
35,341,597 | ||||||
Specialty Retail — 1.1% | ||||||
Fast Retailing Co. Ltd. (Japan) | 200 | 43,782 | ||||
Home Depot, Inc. (The) | 58,300 | 17,205,496 | ||||
Industria de Diseno Textil SA (Spain) | 6,379 | 214,304 | ||||
JD Sports Fashion PLC (United Kingdom) | 3,427 | 7,547 | ||||
Lowe’s Cos., Inc. | 70,300 | 14,057,891 | ||||
O’Reilly Automotive, Inc.* | 4,100 | 3,480,818 | ||||
TJX Cos., Inc. (The) | 67,900 | 5,320,644 | ||||
Ulta Beauty, Inc.* | 17,900 | 9,767,493 | ||||
USS Co. Ltd. (Japan) | 700 | 12,145 | ||||
ZOZO, Inc. (Japan) | 400 | 9,149 | ||||
50,119,269 | ||||||
Technology Hardware, Storage & Peripherals — 4.4% | ||||||
Apple, Inc. | 1,100,400 | 181,455,960 | ||||
Canon, Inc. (Japan) | 8,400 | 187,067 | ||||
FUJIFILM Holdings Corp. (Japan) | 800 | 40,610 | ||||
Hewlett Packard Enterprise Co. | 700,700 | 11,162,151 | ||||
192,845,788 | ||||||
Textiles, Apparel & Luxury Goods — 0.3% | ||||||
Burberry Group PLC (United Kingdom) | 517 | 16,554 | ||||
Cie Financiere Richemont SA (Switzerland) (Class A Stock) | 730 | 117,060 | ||||
Deckers Outdoor Corp.* | 3,900 | 1,753,245 | ||||
Ermenegildo Zegna NV (Italy) | 3,958 | 53,987 | ||||
Hermes International (France) | 123 | 249,107 | ||||
LVMH Moet Hennessy Louis Vuitton SE (France) | 382 | 350,641 | ||||
NIKE, Inc. (Class B Stock) | 77,100 | 9,455,544 | ||||
PVH Corp. | 24,500 | 2,184,420 | ||||
Swatch Group AG (The) (Switzerland) | 86 | 29,618 | ||||
Swatch Group AG (The) (Switzerland) (Registered Shares) | 140 | 8,877 | ||||
14,219,053 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Tobacco — 0.3% | ||||||
Altria Group, Inc. | 76,600 | $3,417,892 | ||||
British American Tobacco PLC (United Kingdom) | 7,296 | 255,757 | ||||
Imperial Brands PLC (United Kingdom) | 2,949 | 67,814 | ||||
Japan Tobacco, Inc. (Japan) | 3,400 | 71,820 | ||||
Philip Morris International, Inc. | 91,500 | 8,898,375 | ||||
12,711,658 | ||||||
Trading Companies & Distributors — 0.2% | ||||||
Ashtead Group PLC (United Kingdom) | 2,478 | 152,162 | ||||
Bunzl PLC (United Kingdom) | 462 | 17,451 | ||||
IMCD NV (Netherlands) | 165 | 26,980 | ||||
ITOCHU Corp. (Japan) | 1,600 | 52,106 | ||||
Marubeni Corp. (Japan) | 2,100 | 28,559 | ||||
Mitsubishi Corp. (Japan) | 1,700 | 61,092 | ||||
Mitsui & Co. Ltd. (Japan) | 6,200 | 193,253 | ||||
MonotaRO Co. Ltd. (Japan) | 700 | 8,817 | ||||
Toyota Tsusho Corp. (Japan) | 300 | 12,791 | ||||
W.W. Grainger, Inc. | 10,300 | 7,094,743 | ||||
WESCO International, Inc. | 8,800 | 1,359,952 | ||||
9,007,906 | ||||||
Transportation Infrastructure — 0.0% | ||||||
Aena SME SA (Spain), 144A* | 102 | 16,494 | ||||
Water Utilities — 0.2% | ||||||
American Water Works Co., Inc. | 47,700 | 6,987,573 | ||||
Wireless Telecommunication Services — 0.3% | ||||||
SoftBank Group Corp. (Japan) | 1,700 | 66,833 | ||||
Tele2 AB (Sweden) (Class B Stock) | 1,632 | 16,243 | ||||
T-Mobile US, Inc.* | 78,500 | 11,369,940 | ||||
11,453,016 | ||||||
Total Common Stocks (cost $1,918,618,574) | 2,563,591,569 | |||||
Exchange-Traded Fund — 0.0% | ||||||
iShares MSCI EAFE ETF | 1,188 | 84,966 | ||||
(cost $57,907) | ||||||
Preferred Stocks — 0.0% | ||||||
Automobiles — 0.0% | ||||||
Bayerische Motoren Werke AG (Germany) (PRFC) | 151 | 15,435 | ||||
Volkswagen AG (Germany) (PRFC) | 253 | 34,528 | ||||
49,963 | ||||||
Banks — 0.0% | ||||||
Citigroup Capital XIII, 11.172%(c), 3 Month LIBOR + 6.370%, Maturing 10/30/40 | 22,000 | 627,880 | ||||
Total Preferred Stocks (cost $596,056) | 677,843 |
A7
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities — 7.6% | |||||||
Automobiles — 1.9% | |||||||
Americredit Automobile Receivables Trust, | |||||||
Series 2023-01, Class C | |||||||
5.800% | 12/18/28 | 2,100 | $2,138,618 | ||||
AmeriCredit Automobile Receivables Trust, | |||||||
Series 2019-02, Class C | |||||||
2.740% | 04/18/25 | 1,185 | 1,174,566 | ||||
Series 2019-03, Class C | |||||||
2.320% | 07/18/25 | 2,795 | 2,762,825 | ||||
Series 2020-01, Class C | |||||||
1.590% | 10/20/25 | 25 | 24,367 | ||||
Series 2020-03, Class C | |||||||
1.060% | 08/18/26 | 15 | 14,071 | ||||
Series 2021-02, Class C | |||||||
1.010% | 01/19/27 | 1,300 | 1,186,398 | ||||
Series 2021-02, Class D | |||||||
1.290% | 06/18/27 | 10 | 9,013 | ||||
Series 2021-03, Class C | |||||||
1.410% | 08/18/27 | 1,300 | 1,180,628 | ||||
Avis Budget Rental Car Funding AESOP LLC, | |||||||
Series 2019-02A, Class A, 144A | |||||||
3.350% | 09/22/25 | 3,000 | 2,918,180 | ||||
Series 2019-03A, Class A, 144A | |||||||
2.360% | 03/20/26 | 4,000 | 3,792,254 | ||||
Series 2020-01A, Class A, 144A | |||||||
2.330% | 08/20/26 | 1,800 | 1,689,969 | ||||
Series 2021-01A, Class A, 144A | |||||||
1.380% | 08/20/27 | 3,500 | 3,102,246 | ||||
Series 2021-02A, Class A, 144A | |||||||
1.660% | 02/20/28 | 3,700 | 3,253,176 | ||||
Series 2022-01A, Class A, 144A | |||||||
3.830% | 08/21/28 | 4,200 | 3,989,533 | ||||
Series 2023-02A, Class A, 144A | |||||||
5.200% | 10/20/27 | 2,000 | 1,995,361 | ||||
CarMax Auto Owner Trust, | |||||||
Series 2020-01, Class B | |||||||
2.210% | 09/15/25 | 15 | 14,550 | ||||
Series 2021-01, Class D | |||||||
1.280% | 07/15/27 | 10 | 9,105 | ||||
Series 2021-02, Class C | |||||||
1.340% | 02/16/27 | 1,100 | 1,015,473 | ||||
Series 2021-04, Class C | |||||||
1.380% | 07/15/27 | 800 | 721,984 | ||||
Series 2022-02, Class C | |||||||
4.260% | 12/15/27 | 25 | 24,306 | ||||
Exeter Automobile Receivables Trust, | |||||||
Series 2021-01A, Class C | |||||||
0.740% | 01/15/26 | 9 | 8,488 | ||||
Series 2021-02A, Class C | |||||||
0.980% | 06/15/26 | 10 | 9,727 | ||||
Series 2021-04A, Class C | |||||||
1.460% | 10/15/27 | 20 | 19,055 | ||||
Ford Auto Securitization Trust (Canada), | |||||||
Series 2020-AA, Class A3, 144A | |||||||
1.153% | 11/15/25 | CAD | 3,600 | 2,558,437 | |||
Ford Credit Auto Owner Trust, | |||||||
Series 2018-01, Class A, 144A | |||||||
3.190% | 07/15/31 | 2,500 | 2,425,201 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Automobiles (cont’d.) | |||||||
Series 2019-01, Class A, 144A | |||||||
3.520% | 07/15/30 | 2,200 | $2,168,317 | ||||
Series 2020-01, Class A, 144A | |||||||
2.040% | 08/15/31 | 3,600 | 3,416,623 | ||||
Series 2020-02, Class A, 144A | |||||||
1.060% | 04/15/33 | 1,300 | 1,184,232 | ||||
Series 2021-02, Class B, 144A | |||||||
1.910% | 05/15/34 | 500 | 445,373 | ||||
Series 2023-01, Class A, 144A | |||||||
4.850% | 08/15/35 | 4,100 | 4,109,649 | ||||
GM Financial Automobile Leasing Trust, | |||||||
Series 2023-01, Class C | |||||||
5.760% | 01/20/27 | 25 | 25,007 | ||||
GM Financial Revolving Receivables Trust, | |||||||
Series 2021-01, Class B, 144A | |||||||
1.490% | 06/12/34 | 200 | 171,836 | ||||
Hertz Vehicle Financing III LLC, | |||||||
Series 2023-01A, Class A, 144A | |||||||
5.490% | 06/25/27 | 3,700 | 3,720,278 | ||||
Hertz Vehicle Financing III LP, | |||||||
Series 2021-02A, Class A, 144A | |||||||
1.680% | 12/27/27 | 1,900 | 1,682,956 | ||||
Hertz Vehicle Financing LLC, | |||||||
Series 2021-01A, Class A, 144A | |||||||
1.210% | 12/26/25 | 2,100 | 1,965,714 | ||||
Series 2022-02A, Class A, 144A | |||||||
2.330% | 06/26/28 | 4,700 | 4,181,444 | ||||
OneMain Direct Auto Receivables Trust, | |||||||
Series 2019-01A, Class A, 144A | |||||||
3.630% | 09/14/27 | 6,300 | 6,117,374 | ||||
Series 2021-01A, Class B, 144A | |||||||
1.260% | 07/14/28 | 2,600 | 2,333,912 | ||||
Series 2023-01A, Class A, 144A | |||||||
5.410% | 11/14/29 | 4,700 | 4,733,012 | ||||
Santander Drive Auto Receivables Trust, | |||||||
Series 2020-02, Class C | |||||||
1.460% | 09/15/25 | 6 | 6,242 | ||||
Series 2020-03, Class C | |||||||
1.120% | 01/15/26 | 540 | 537,890 | ||||
Series 2020-04, Class C | |||||||
1.010% | 01/15/26 | 601 | 595,775 | ||||
Series 2021-02, Class C | |||||||
0.900% | 06/15/26 | 989 | 971,008 | ||||
Series 2021-02, Class D | |||||||
1.350% | 07/15/27 | 2,300 | 2,170,158 | ||||
Series 2021-03, Class C | |||||||
0.950% | 09/15/27 | 2,000 | 1,941,279 | ||||
Series 2021-04, Class C | |||||||
1.260% | 02/16/27 | 2,700 | 2,568,902 | ||||
Series 2022-01, Class C | |||||||
2.560% | 04/17/28 | 1,600 | 1,535,140 | ||||
Series 2022-03, Class C | |||||||
4.490% | 08/15/29 | 25 | 24,396 | ||||
Series 2023-01, Class C | |||||||
5.090% | 05/15/30 | 800 | 790,710 |
A8
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Automobiles (cont’d.) | |||||||
World Omni Select Auto Trust, | |||||||
Series 2021-A, Class C | |||||||
1.090% | 11/15/27 | 600 | $542,958 | ||||
83,977,716 | |||||||
Collateralized Loan Obligations — 4.9% | |||||||
AIG CLO Ltd. (Cayman Islands), | |||||||
Series 2019-02A, Class AR, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 1.100%) | |||||||
5.918%(c) | 10/25/33 | 11,000 | 10,786,208 | ||||
Bain Capital Credit CLO Ltd. (Cayman Islands), | |||||||
Series 2019-02A, Class AR, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 1.100%) | |||||||
5.892%(c) | 10/17/32 | 5,000 | 4,900,318 | ||||
Balboa Bay Loan Funding Ltd. (Cayman Islands), | |||||||
Series 2021-01A, Class A, 144A, 3 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%) | |||||||
6.008%(c) | 07/20/34 | 3,750 | 3,664,324 | ||||
Battalion CLO Ltd. (Cayman Islands), | |||||||
Series 2016-10A, Class A1R2, 144A, 3 Month LIBOR + 1.170% (Cap N/A, Floor 1.170%) | |||||||
5.986%(c) | 01/25/35 | 700 | 681,774 | ||||
Benefit Street Partners CLO Ltd. (Cayman Islands), | |||||||
Series 2013-IIA, Class A1R2, 144A, 3 Month LIBOR + 0.870% (Cap N/A, Floor 0.870%) | |||||||
5.662%(c) | 07/15/29 | 639 | 634,405 | ||||
BNPP AM Euro CLO DAC (Ireland), | |||||||
Series 2018-01A, Class AR, 144A, 3 Month EURIBOR + 0.600% (Cap N/A, Floor 0.600%) | |||||||
2.888%(c) | 04/15/31 | EUR | 3,000 | 3,162,284 | |||
Canyon Capital CLO Ltd. (Cayman Islands), | |||||||
Series 2017-01A, Class AR, 144A, 3 Month LIBOR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
5.792%(c) | 07/15/30 | 2,967 | 2,929,269 | ||||
Carlyle Euro CLO DAC (Ireland), | |||||||
Series 2021-02A, Class A1, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%) | |||||||
3.278%(c) | 10/15/35 | EUR | 5,000 | 5,214,886 | |||
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%) | |||||||
5.888%(c) | 01/20/32 | 9,750 | 9,607,430 | ||||
CarVal CLO Ltd. (Jersey), | |||||||
Series 2023-01A, Class A1, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%) | |||||||
6.883%(c) | 01/20/35 | 7,000 | 7,037,283 | ||||
CIFC Funding Ltd. (Cayman Islands), | |||||||
Series 2014-05A, Class A1R2, 144A, 3 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%) | |||||||
5.992%(c) | 10/17/31 | 9,750 | 9,651,526 | ||||
Elevation CLO Ltd. (Cayman Islands), | |||||||
Series 2017-06A, Class A1, 144A, 3 Month LIBOR + 1.280% (Cap N/A, Floor 1.280%) | |||||||
6.072%(c) | 07/15/29 | 359 | 356,297 | ||||
Series 2018-03A, Class A1R, 144A, 3 Month LIBOR + 1.210% (Cap N/A, Floor 1.210%) | |||||||
6.028%(c) | 01/25/35 | 7,500 | 7,303,823 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
Greenwood Park CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A2, 144A, 3 Month LIBOR + 1.010% (Cap N/A, Floor 0.000%) | |||||||
5.802%(c) | 04/15/31 | 2,000 | $1,976,249 | ||||
Greywolf CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.290% (Cap N/A, Floor 0.000%) | |||||||
5.956%(c) | 04/26/31 | 4,000 | 3,955,334 | ||||
HPS Loan Management Ltd. (Cayman Islands), | |||||||
Series 2015-06A, Class A1R, 144A, 3 Month LIBOR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
5.806%(c) | 02/05/31 | 248 | 246,204 | ||||
ICG US CLO Ltd. (Cayman Islands), | |||||||
Series 2015-01A, Class A1R, 144A, 3 Month LIBOR + 1.140% (Cap N/A, Floor 1.140%) | |||||||
5.938%(c) | 10/19/28 | 6,236 | 6,188,914 | ||||
Jamestown CLO Ltd. (Cayman Islands), | |||||||
Series 2019-01A, Class A1, 144A, 3 Month LIBOR + 1.470% (Cap N/A, Floor 1.470%) | |||||||
6.278%(c) | 04/20/32 | 5,750 | 5,697,471 | ||||
Series 2019-14A, Class A1AR, 144A, 3 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%) | |||||||
6.008%(c) | 10/20/34 | 4,875 | 4,755,997 | ||||
Jefferson Mill CLO Ltd. (Cayman Islands), | |||||||
Series 2015-01A, Class AR, 144A, 3 Month LIBOR + 1.175% (Cap N/A, Floor 0.000%) | |||||||
5.983%(c) | 10/20/31 | 6,729 | 6,610,409 | ||||
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 | 5,500 | 5,505,375 | ||||
LCM Ltd. (Cayman Islands), | |||||||
Series 34A, Class A1, 144A, 3 Month LIBOR + 1.170% (Cap N/A, Floor 1.170%) | |||||||
5.978%(c) | 10/20/34 | 6,000 | 5,841,686 | ||||
MidOcean Credit CLO (Cayman Islands), | |||||||
Series 2014-03A, Class A1R, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 1.120%) | |||||||
5.935%(c) | 04/21/31 | 2,372 | 2,339,524 | ||||
Northwoods Capital Ltd. (Cayman Islands), | |||||||
Series 2017-15A, Class A1R, 144A, 3 Month LIBOR + 1.210% (Cap N/A, Floor 1.210%) | |||||||
6.173%(c) | 06/20/34 | 9,500 | 9,177,889 | ||||
Series 2020-22A, Class AR, 144A, 3 Month SOFR + 1.450% (Cap N/A, Floor 1.450%) | |||||||
6.356%(c) | 09/01/31 | 5,750 | 5,684,440 | ||||
Octagon Investment Partners 31 Ltd. (Cayman Islands), | |||||||
Series 2017-01A, Class AR, 144A, 3 Month LIBOR + 1.050% (Cap N/A, Floor 1.050%) | |||||||
5.858%(c) | 07/20/30 | 3,395 | 3,359,463 | ||||
OFSI BSL Ltd. (Cayman Islands), | |||||||
Series 2023-12A, Class A1, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%) | |||||||
7.355%(c) | 01/20/35 | 7,000 | 7,027,777 |
A9
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
OZLM Ltd. (Cayman Islands), | |||||||
Series 2015-11A, Class A1R, 144A, 3 Month LIBOR + 1.250% (Cap N/A, Floor 0.000%) | |||||||
6.052%(c) | 10/30/30 | 1,384 | $1,371,535 | ||||
Palmer Square CLO Ltd. (Cayman Islands), | |||||||
Series 2014-01A, Class A1R2, 144A, 3 Month LIBOR + 1.130% (Cap N/A, Floor 1.130%) | |||||||
5.922%(c) | 01/17/31 | 1,500 | 1,488,533 | ||||
Series 2018-02A, Class A1A, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 0.000%) | |||||||
5.892%(c) | 07/16/31 | 2,350 | 2,320,568 | ||||
Palmer Square European CLO DAC (Ireland), | |||||||
Series 2022-02A, Class A1, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | |||||||
4.642%(c) | 01/15/36 | EUR | 7,500 | 8,133,229 | |||
Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A1AR, 144A, 3 Month LIBOR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
5.808%(c) | 10/20/31 | 8,750 | 8,603,195 | ||||
Regatta Funding Ltd. (Cayman Islands), | |||||||
Series 2016-01A, Class A1R2, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%) | |||||||
6.113%(c) | 06/20/34 | 5,500 | 5,358,002 | ||||
Romark CLO Ltd. (Cayman Islands), | |||||||
Series 2018-02A, Class A1, 144A, 3 Month LIBOR + 1.175% (Cap N/A, Floor 1.175%) | |||||||
5.993%(c) | 07/25/31 | 1,000 | 986,320 | ||||
Sound Point CLO Ltd. (Cayman Islands), | |||||||
Series 2013-01A, Class A1R, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%) | |||||||
5.892%(c) | 01/26/31 | 4,250 | 4,200,355 | ||||
Series 2019-01A, Class AR, 144A, 3 Month LIBOR + 1.080% (Cap N/A, Floor 1.080%) | |||||||
5.888%(c) | 01/20/32 | 1,240 | 1,221,505 | ||||
TCW CLO Ltd. (Cayman Islands), | |||||||
Series 2021-02A, Class AS, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%) | |||||||
5.998%(c) | 07/25/34 | 6,750 | 6,604,966 | ||||
Telos CLO Ltd. (Cayman Islands), | |||||||
Series 2013-04A, Class AR, 144A, 3 Month LIBOR + 1.240% (Cap N/A, Floor 0.000%) | |||||||
6.032%(c) | 01/17/30 | 1,935 | 1,916,971 | ||||
Toro European CLO DAC (Ireland), | |||||||
Series 02A, Class ARR, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%) | |||||||
3.439%(c) | 07/25/34 | EUR | 4,500 | 4,704,790 | |||
Trimaran Cavu Ltd., | |||||||
Series 2019-01A, Class A1, 144A, 3 Month LIBOR + 1.460% (Cap N/A, Floor 1.460%) | |||||||
6.268%(c) | 07/20/32 | 3,000 | 2,967,044 | ||||
TSTAT Ltd. (Bermuda), | |||||||
Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.370% (Cap N/A, Floor 2.370%) | |||||||
6.883%(c) | 01/20/31 | 8,750 | 8,762,620 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
Venture CLO Ltd. (Cayman Islands), | |||||||
Series 2021-42A, Class A1A, 144A, 3 Month LIBOR + 1.130% (Cap N/A, Floor 1.130%) | |||||||
5.922%(c) | 04/15/34 | 10,000 | $9,700,987 | ||||
Wellfleet CLO Ltd., | |||||||
Series 2017-03A, Class A1, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%) | |||||||
5.942%(c) | 01/17/31 | 2,750 | 2,692,502 | ||||
Series 2018-01A, Class A, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 1.100%) | |||||||
5.892%(c) | 07/17/31 | 3,500 | 3,447,880 | ||||
Series 2018-02A, Class A1, 144A, 3 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%) | |||||||
6.008%(c) | 10/20/31 | 5,750 | 5,666,737 | ||||
214,444,298 | |||||||
Consumer Loans — 0.2% | |||||||
Lendmark Funding Trust, | |||||||
Series 2019-02A, Class A, 144A | |||||||
2.780% | 04/20/28 | 1,847 | 1,815,302 | ||||
OneMain Financial Issuance Trust, | |||||||
Series 2020-01A, Class A, 144A | |||||||
3.840% | 05/14/32 | 359 | 356,837 | ||||
Series 2020-02A, Class A, 144A | |||||||
1.750% | 09/14/35 | 2,900 | 2,602,566 | ||||
Series 2021-01A, Class A2, 144A, 30 Day Average SOFR + 0.760% (Cap N/A, Floor 0.000%) | |||||||
5.318%(c) | 06/16/36 | 2,800 | 2,703,320 | ||||
Series 2022-02A, Class A, 144A | |||||||
4.890% | 10/14/34 | 2,050 | 2,014,627 | ||||
9,492,652 | |||||||
Equipment — 0.2% | |||||||
CNH Equipment Trust, | |||||||
Series 2019-C, Class B | |||||||
2.350% | 04/15/27 | 20 | 19,610 | ||||
MMAF Equipment Finance LLC, | |||||||
Series 2017-B, Class A5, 144A | |||||||
2.720% | 06/15/40 | 2,403 | 2,340,503 | ||||
Series 2018-A, Class A5, 144A | |||||||
3.610% | 03/10/42 | 195 | 193,829 | ||||
Series 2019-A, Class A5, 144A | |||||||
3.080% | 11/12/41 | 2,500 | 2,428,977 | ||||
Series 2019-B, Class A5, 144A | |||||||
2.290% | 11/12/41 | 2,400 | 2,236,453 | ||||
7,219,372 | |||||||
Home Equity Loans — 0.0% | |||||||
Towd Point HE Trust, | |||||||
Series 2023-01, Class A1A, 144A | |||||||
6.875% | 02/25/63 | 516 | 524,880 | ||||
Other — 0.1% | |||||||
Home Partners of America Trust, | |||||||
Series 2021-03, Class A, 144A | |||||||
2.200% | 01/17/41 | 1,273 | 1,104,875 |
A10
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Other (cont’d.) | |||||||
Series 2022-01, Class D, 144A | |||||||
4.730% | 04/17/39 | 97 | $89,777 | ||||
TH MSR Issuer Trust, | |||||||
Series 2019-FT01, Class A, 144A, 1 Month LIBOR + 2.800% (Cap N/A, Floor 2.800%) | |||||||
7.645%(c) | 06/25/24 | 3,250 | 3,057,957 | ||||
4,252,609 | |||||||
Residential Mortgage-Backed Securities — 0.1% | |||||||
Long Beach Mortgage Loan Trust, | |||||||
Series 2004-02, Class M1, 1 Month LIBOR + 0.795% (Cap N/A, Floor 0.795%) | |||||||
5.640%(c) | 06/25/34 | 109 | 103,747 | ||||
TFS (Spain), | |||||||
Series 2018-03, Class A1 | |||||||
0.000%(s) | 04/16/40^ | EUR | —(r) | 1 | |||
Series 2018-03, Class A1, 1 Month EURIBOR + 3.000% | |||||||
5.646%(c) | 04/16/23^ | EUR | 1,185 | 1,217,884 | |||
1,321,632 | |||||||
Student Loans — 0.2% | |||||||
Commonbond Student Loan Trust, | |||||||
Series 2017-BGS, Class A1, 144A | |||||||
2.680% | 09/25/42 | 695 | 622,679 | ||||
Series 2018-AGS, Class A1, 144A | |||||||
3.210% | 02/25/44 | 507 | 474,063 | ||||
Series 2018-CGS, Class A1, 144A | |||||||
3.870% | 02/25/46 | 145 | 138,464 | ||||
Laurel Road Prime Student Loan Trust, | |||||||
Series 2017-C, Class A2B, 144A | |||||||
2.810% | 11/25/42 | 86 | 84,596 | ||||
Series 2018-B, Class A2FX, 144A | |||||||
3.540% | 05/26/43 | 176 | 172,821 | ||||
Series 2019-A, Class A2FX, 144A | |||||||
2.730% | 10/25/48 | 237 | 229,721 | ||||
Navient Private Education Refi Loan Trust, | |||||||
Series 2018-A, Class A2, 144A | |||||||
3.190% | 02/18/42 | 154 | 153,206 | ||||
Series 2018-CA, Class A2, 144A | |||||||
3.520% | 06/16/42 | 200 | 195,435 | ||||
Series 2019-CA, Class A2, 144A | |||||||
3.130% | 02/15/68 | 776 | 740,126 | ||||
Series 2020-BA, Class A2, 144A | |||||||
2.120% | 01/15/69 | 819 | 748,677 | ||||
Pennsylvania Higher Education Assistance Agency, | |||||||
Series 2021-01A, Class A, 144A, 1 Month LIBOR + 0.530% (Cap N/A, Floor 0.530%) | |||||||
5.375%(c) | 05/25/70 | 1,750 | 1,685,775 | ||||
SoFi Professional Loan Program LLC, | |||||||
Series 2019-A, Class A2FX, 144A | |||||||
3.690% | 06/15/48 | 643 | 617,254 | ||||
Series 2019-B, Class A2FX, 144A | |||||||
3.090% | 08/17/48 | 777 | 734,206 | ||||
Series 2019-C, Class A2FX, 144A | |||||||
2.370% | 11/16/48 | 1,192 | 1,110,748 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Student Loans (cont’d.) | |||||||
SoFi Professional Loan Program Trust, | |||||||
Series 2018-B, Class A2FX, 144A | |||||||
3.340% | 08/25/47 | 690 | $669,757 | ||||
Series 2020-A, Class A2FX, 144A | |||||||
2.540% | 05/15/46 | 1,546 | 1,441,335 | ||||
9,818,863 | |||||||
Total Asset-Backed Securities (cost $340,451,114) | 331,052,022 | ||||||
Commercial Mortgage-Backed Securities — 4.7% | |||||||
Arbor Multifamily Mortgage Securities Trust, | |||||||
Series 2021-MF03, Class A3, 144A | |||||||
2.168% | 10/15/54 | 8,000 | 6,836,958 | ||||
Series 2021-MF03, Class ASB, 144A | |||||||
2.378% | 10/15/54 | 3,800 | 3,260,861 | ||||
Assurant Commercial Mortgage Trust, | |||||||
Series 2016-01A, Class AS, 144A | |||||||
3.172% | 05/15/49 | 3,751 | 3,605,215 | ||||
BANK, | |||||||
Series 2017-BNK04, Class A3 | |||||||
3.362% | 05/15/50 | 6,465 | 6,016,335 | ||||
Series 2021-BN35, Class A3 | |||||||
1.717% | 06/15/64 | 4,900 | 4,116,351 | ||||
Series 2021-BN35, Class ASB | |||||||
2.067% | 06/15/64 | 3,200 | 2,705,013 | ||||
BANK5, | |||||||
Series 2023-5YR1, Class A3 | |||||||
6.260% | 03/15/56 | 10,000 | 10,299,800 | ||||
Barclays Commercial Mortgage Securities Trust, | |||||||
Series 2018-C02, Class A4 | |||||||
4.047% | 12/15/51 | 5,400 | 5,092,629 | ||||
Series 2019-BWAY, Class D, 144A, 1 Month SOFR + 2.274% (Cap N/A, Floor 2.274%) | |||||||
7.101%(c) | 11/15/34 | 10 | 5,119 | ||||
Series 2020-BID, Class A, 144A, 1 Month LIBOR + 2.140% (Cap N/A, Floor 2.140%) | |||||||
6.824%(c) | 10/15/37 | 20 | 19,313 | ||||
Benchmark Mortgage Trust, | |||||||
Series 2018-B03, Class A4 | |||||||
3.761% | 04/10/51 | 5,000 | 4,667,241 | ||||
Series 2018-B08, Class A4 | |||||||
3.963% | 01/15/52 | 6,700 | 6,331,732 | ||||
Series 2021-B24, Class A3 | |||||||
2.010% | 03/15/54 | 2,900 | 2,489,833 | ||||
BXP Trust, | |||||||
Series 2021-601L, Class A, 144A | |||||||
2.618% | 01/15/44 | 7,750 | 5,961,952 | ||||
Cantor Commercial Real Estate Lending, | |||||||
Series 2019-CF02, Class A3 | |||||||
2.647% | 11/15/52 | 8,000 | 7,475,346 | ||||
CD Mortgage Trust, | |||||||
Series 2016-CD02, Class A4 | |||||||
3.526%(cc) | 11/10/49 | 10 | 9,341 | ||||
Citigroup Commercial Mortgage Trust, | |||||||
Series 2014-GC21, Class A4 | |||||||
3.575% | 05/10/47 | 831 | 813,600 |
A11
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Series 2014-GC23, Class A3 | |||||||
3.356% | 07/10/47 | 1,549 | $1,498,132 | ||||
Series 2015-GC33, Class A4 | |||||||
3.778% | 09/10/58 | 10 | 9,588 | ||||
Series 2016-C01, Class A3 | |||||||
2.944% | 05/10/49 | 5,000 | 4,655,616 | ||||
Series 2016-GC37, Class A3 | |||||||
3.050% | 04/10/49 | 3,560 | 3,342,867 | ||||
Series 2017-P07, Class A3 | |||||||
3.442% | 04/14/50 | 5,084 | 4,736,371 | ||||
Commercial Mortgage Trust, | |||||||
Series 2014-CR18, Class A4 | |||||||
3.550% | 07/15/47 | 1,052 | 1,021,582 | ||||
Series 2014-CR18, Class A5 | |||||||
3.828% | 07/15/47 | 25 | 24,299 | ||||
Series 2014-CR20, Class A3 | |||||||
3.326% | 11/10/47 | 4,083 | 3,940,435 | ||||
Series 2014-UBS02, Class A5 | |||||||
3.961% | 03/10/47 | 25 | 24,524 | ||||
Series 2015-CR23, Class A3 | |||||||
3.230% | 05/10/48 | 22 | 21,205 | ||||
Series 2015-CR24, Class A5 | |||||||
3.696% | 08/10/48 | 10 | 9,588 | ||||
Series 2015-CR27, Class A3 | |||||||
3.349% | 10/10/48 | 5,938 | 5,651,304 | ||||
Series 2015-LC21, Class A4 | |||||||
3.708% | 07/10/48 | 10 | 9,596 | ||||
CSAIL Commercial Mortgage Trust, | |||||||
Series 2015-C04, Class A3 | |||||||
3.544% | 11/15/48 | 2,979 | 2,851,834 | ||||
Series 2017-C08, Class A3 | |||||||
3.127% | 06/15/50 | 5,052 | 4,573,749 | ||||
FHLMC Multifamily Structured Pass-Through Certificates, | |||||||
Series K055, Class X1, IO | |||||||
1.344%(cc) | 03/25/26 | 12,821 | 442,729 | ||||
Series K068, Class A1 | |||||||
2.952% | 02/25/27 | 6 | 6,081 | ||||
GS Mortgage Securities Corp. Trust, | |||||||
Series 2021-RENT, Class A, 144A, 1 Month LIBOR + 0.700% (Cap N/A, Floor 0.700%) | |||||||
5.478%(c) | 11/21/35 | 1,534 | 1,440,165 | ||||
GS Mortgage Securities Trust, | |||||||
Series 2015-GC28, Class A4 | |||||||
3.136% | 02/10/48 | 3,684 | 3,543,261 | ||||
Series 2015-GC32, Class A3 | |||||||
3.498% | 07/10/48 | 5,265 | 5,027,807 | ||||
Series 2015-GC32, Class A4 | |||||||
3.764% | 07/10/48 | 10 | 9,599 | ||||
Series 2016-GS03, Class A3 | |||||||
2.592% | 10/10/49 | 5,387 | 4,950,591 | ||||
Series 2016-GS04, Class A3 | |||||||
3.178% | 11/10/49 | 5,219 | 4,862,066 | ||||
Series 2018-GS09, Class A4 | |||||||
3.992%(cc) | 03/10/51 | 10 | 9,416 | ||||
Series 2020-GSA02, Class A4 | |||||||
1.721% | 12/12/53 | 6,000 | 4,777,447 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Series 2021-GSA03, Class A4 | |||||||
2.369% | 12/15/54 | 5,800 | $4,672,681 | ||||
JPMBB Commercial Mortgage Securities Trust, | |||||||
Series 2014-C25, Class A4A1 | |||||||
3.408% | 11/15/47 | 676 | 652,148 | ||||
Series 2015-C27, Class A3A1 | |||||||
2.920% | 02/15/48 | 4,719 | 4,454,035 | ||||
Series 2015-C30, Class A5 | |||||||
3.822% | 07/15/48 | 10 | 9,559 | ||||
MHC Commercial Mortgage Trust, | |||||||
Series 2021-MHC, Class C, 144A, 1 Month LIBOR + 1.351% (Cap N/A, Floor 1.351%) | |||||||
6.035%(c) | 04/15/38 | 3,000 | 2,864,654 | ||||
Morgan Stanley Capital I Trust, | |||||||
Series 2016-BNK02, Class A3 | |||||||
2.791% | 11/15/49 | 3,000 | 2,748,800 | ||||
Series 2016-UB11, Class A3 | |||||||
2.531% | 08/15/49 | 10,156 | 9,257,163 | ||||
Series 2018-H04, Class A3 | |||||||
4.043% | 12/15/51 | 1,900 | 1,800,765 | ||||
Series 2019-H07, Class A2 | |||||||
2.492% | 07/15/52 | 13,500 | 12,891,899 | ||||
Series 2019-MEAD, Class D, 144A | |||||||
3.177%(cc) | 11/10/36 | 10 | 8,686 | ||||
UBS Commercial Mortgage Trust, | |||||||
Series 2017-C02, Class ASB | |||||||
3.264% | 08/15/50 | 3,056 | 2,917,347 | ||||
Series 2017-C05, Class A4 | |||||||
3.212% | 11/15/50 | 6,750 | 6,281,540 | ||||
Series 2018-C09, Class A3 | |||||||
3.854% | 03/15/51 | 2,423 | 2,275,740 | ||||
Series 2018-C14, Class A3 | |||||||
4.180% | 12/15/51 | 3,411 | 3,251,228 | ||||
Wells Fargo Commercial Mortgage Trust, | |||||||
Series 2015-C30, Class A4 | |||||||
3.664% | 09/15/58 | 10 | 9,693 | ||||
Series 2015-NXS02, Class A5 | |||||||
3.767%(cc) | 07/15/58 | 10 | 9,586 | ||||
Series 2016-NXS06, Class A3 | |||||||
2.642% | 11/15/49 | 8,000 | 7,392,190 | ||||
Series 2017-C38, Class A4 | |||||||
3.190% | 07/15/50 | 4,440 | 4,091,353 | ||||
Series 2018-C48, Class A4 | |||||||
4.037% | 01/15/52 | 7,000 | 6,641,823 | ||||
Series 2020-C58, Class A3 | |||||||
1.810% | 07/15/53 | 7,100 | 5,742,909 | ||||
Total Commercial Mortgage-Backed Securities (cost $226,041,500) | 205,120,290 | ||||||
Corporate Bonds — 10.2% | |||||||
Aerospace & Defense — 0.2% | |||||||
Boeing Co. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.196% | 02/04/26 | 2,160 | 2,003,640 | ||||
3.300% | 03/01/35 | 2,900 | 2,265,725 |
A12
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Aerospace & Defense (cont’d.) | |||||||
3.900% | 05/01/49 | 2,175 | $1,644,736 | ||||
Embraer Netherlands Finance BV (Brazil), | |||||||
Gtd. Notes | |||||||
5.050% | 06/15/25 | 906 | 874,856 | ||||
Embraer Overseas Ltd. (Brazil), | |||||||
Gtd. Notes, 144A | |||||||
5.696% | 09/16/23 | 950 | 945,250 | ||||
L3Harris Technologies, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.854% | 04/27/35 | 10 | 9,843 | ||||
Raytheon Technologies Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.125% | 11/16/28 | 1,270 | 1,251,474 | ||||
8,995,524 | |||||||
Agriculture — 0.4% | |||||||
Altria Group, Inc., | |||||||
Gtd. Notes | |||||||
3.400% | 02/04/41 | 2,545 | 1,800,780 | ||||
BAT Capital Corp. (United Kingdom), | |||||||
Gtd. Notes | |||||||
2.259% | 03/25/28 | 5,140 | 4,414,480 | ||||
3.557% | 08/15/27 | 395 | 367,336 | ||||
BAT International Finance PLC (United Kingdom), | |||||||
Gtd. Notes | |||||||
4.448% | 03/16/28 | 1,500 | 1,424,358 | ||||
Philip Morris International, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.125% | 02/15/30(h) | 5,150 | 5,205,229 | ||||
5.375% | 02/15/33 | 780 | 797,062 | ||||
5.625% | 11/17/29 | 1,885 | 1,970,173 | ||||
Vector Group Ltd., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 02/01/29 | 1,250 | 1,111,947 | ||||
17,091,365 | |||||||
Airlines — 0.1% | |||||||
American Airlines 2014-1 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
3.700% | 04/01/28 | 3 | 2,636 | ||||
American Airlines 2015-1 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
3.375% | 11/01/28 | 2,040 | 1,773,353 | ||||
American Airlines 2019-1 Class AA Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
3.150% | 08/15/33 | 21 | 18,307 | ||||
Continental Airlines 2012-2 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
4.000% | 04/29/26 | 389 | 376,070 | ||||
Southwest Airlines Co., | |||||||
Sr. Unsec’d. Notes | |||||||
5.125% | 06/15/27 | 905 | 903,526 | ||||
United Airlines 2018-1 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
3.700% | 09/01/31 | 24 | 20,094 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Airlines (cont’d.) | |||||||
United Airlines, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.375% | 04/15/26 | 840 | $805,478 | ||||
4.625% | 04/15/29 | 165 | 149,228 | ||||
4,048,692 | |||||||
Apparel — 0.0% | |||||||
Wolverine World Wide, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 08/15/29(a) | 725 | 589,188 | ||||
Auto Manufacturers — 0.3% | |||||||
Daimler Truck Finance North America LLC (Germany), | |||||||
Gtd. Notes, 144A | |||||||
1.625% | 12/13/24 | 5,350 | 5,063,168 | ||||
Ford Motor Co., | |||||||
Sr. Unsec’d. Notes | |||||||
5.291% | 12/08/46 | 1,220 | 989,701 | ||||
Ford Motor Credit Co. LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
2.900% | 02/16/28 | 200 | 171,568 | ||||
General Motors Co., | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 04/01/25 | 5 | 4,870 | ||||
6.250% | 10/02/43 | 980 | 942,600 | ||||
6.600% | 04/01/36 | 760 | 783,308 | ||||
General Motors Financial Co., Inc., | |||||||
Gtd. Notes | |||||||
3.950% | 04/13/24 | 2,800 | 2,752,635 | ||||
PACCAR Financial Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
0.900% | 11/08/24 | 20 | 18,886 | ||||
10,726,736 | |||||||
Banks — 2.9% | |||||||
Banco Santander SA (Spain), | |||||||
Sr. Unsec’d. Notes | |||||||
1.849% | 03/25/26 | 1,000 | 895,530 | ||||
Sr. Unsec’d. Notes, 3 Month LIBOR + 1.120% | |||||||
5.926%(c) | 04/12/23 | 800 | 799,989 | ||||
Bank of America Corp., | |||||||
Jr. Sub. Notes, Series JJ | |||||||
5.125%(ff) | 06/20/24(oo) | 1,665 | 1,602,638 | ||||
Sr. Unsec’d. Notes | |||||||
0.976%(ff) | 04/22/25 | 25 | 23,819 | ||||
2.592%(ff) | 04/29/31 | 50 | 42,349 | ||||
5.080%(ff) | 01/20/27 | 25 | 24,946 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
1.898%(ff) | 07/23/31 | 2,600 | 2,084,449 | ||||
2.496%(ff) | 02/13/31 | 3,085 | 2,614,456 | ||||
3.824%(ff) | 01/20/28 | 955 | 910,881 | ||||
4.244%(ff) | 04/24/38 | 20 | 17,995 | ||||
4.271%(ff) | 07/23/29 | 510 | 490,860 | ||||
Sr. Unsec’d. Notes, Series N | |||||||
1.658%(ff) | 03/11/27 | 2,550 | 2,306,907 | ||||
Sub. Notes, MTN | |||||||
4.000% | 01/22/25 | 2,000 | 1,958,365 |
A13
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
4.450% | 03/03/26 | 8,455 | $8,279,198 | ||||
Bank of America NA, | |||||||
Sub. Notes | |||||||
6.000% | 10/15/36 | 410 | 441,700 | ||||
Bank of Montreal (Canada), | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.650% | 03/08/27 | 35 | 32,195 | ||||
Barclays PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 03/16/25 | 850 | 806,874 | ||||
3.932%(ff) | 05/07/25 | 585 | 569,709 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
4.972%(ff) | 05/16/29 | 3,825 | 3,688,888 | ||||
BNP Paribas SA (France), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.323%(ff) | 01/13/27 | 1,800 | 1,585,817 | ||||
2.219%(ff) | 06/09/26 | 680 | 624,546 | ||||
2.591%(ff) | 01/20/28 | 1,130 | 1,013,801 | ||||
3.132%(ff) | 01/20/33 | 1,505 | 1,250,935 | ||||
Citigroup, Inc., | |||||||
Jr. Sub. Notes, Series V | |||||||
4.700%(ff) | 01/30/25(oo) | 1,400 | 1,228,119 | ||||
Sr. Unsec’d. Notes | |||||||
2.561%(ff) | 05/01/32 | 1,260 | 1,043,973 | ||||
3.200% | 10/21/26 | 1,870 | 1,765,122 | ||||
3.700% | 01/12/26 | 6,180 | 5,988,195 | ||||
3.887%(ff) | 01/10/28 | 35 | 33,504 | ||||
Sub. Notes | |||||||
4.450% | 09/29/27 | 5,975 | 5,794,584 | ||||
4.600% | 03/09/26 | 10 | 9,812 | ||||
4.750% | 05/18/46 | 820 | 726,375 | ||||
Credit Agricole SA (France), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
1.907%(ff) | 06/16/26 | 1,160 | 1,065,535 | ||||
Credit Suisse Group AG (Switzerland), | |||||||
Sr. Unsec’d. Notes | |||||||
4.550% | 04/17/26 | 5,000 | 4,575,000 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
2.193%(ff) | 06/05/26 | 1,560 | 1,380,600 | ||||
3.091%(ff) | 05/14/32 | 885 | 711,319 | ||||
4.282% | 01/09/28 | 1,370 | 1,236,425 | ||||
Deutsche Bank AG (Germany), | |||||||
Sr. Unsec’d. Notes | |||||||
2.129%(ff) | 11/24/26 | 440 | 378,867 | ||||
Discover Bank, | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 03/13/26(a) | 970 | 921,847 | ||||
Fifth Third Bancorp, | |||||||
Sr. Unsec’d. Notes | |||||||
1.625% | 05/05/23 | 15 | 14,923 | ||||
Sub. Notes | |||||||
4.300% | 01/16/24 | 10 | 9,768 | ||||
Goldman Sachs Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.650%(ff) | 10/21/32 | 35 | 28,863 | ||||
3.102%(ff) | 02/24/33 | 7,000 | 5,999,440 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
3.500% | 01/23/25 | 4,115 | $4,004,289 | ||||
3.750% | 02/25/26(a) | 1,010 | 982,411 | ||||
3.814%(ff) | 04/23/29 | 540 | 507,964 | ||||
3.850% | 01/26/27 | 2,920 | 2,819,216 | ||||
Sub. Notes | |||||||
5.150% | 05/22/45 | 5 | 4,750 | ||||
6.750% | 10/01/37 | 104 | 112,778 | ||||
JPMorgan Chase & Co., | |||||||
Jr. Sub. Notes, Series HH | |||||||
4.600%(ff) | 02/01/25(oo) | 1,645 | 1,536,656 | ||||
Jr. Sub. Notes, Series II | |||||||
4.000%(ff) | 04/01/25(a)(oo) | 1,045 | 929,392 | ||||
Sr. Unsec’d. Notes | |||||||
3.782%(ff) | 02/01/28 | 695 | 665,140 | ||||
3.882%(ff) | 07/24/38 | 20 | 17,610 | ||||
3.964%(ff) | 11/15/48 | 3,250 | 2,693,855 | ||||
4.005%(ff) | 04/23/29 | 2,170 | 2,073,634 | ||||
4.452%(ff) | 12/05/29 | 3,350 | 3,254,319 | ||||
4.912%(ff) | 07/25/33(a) | 3,500 | 3,479,953 | ||||
Sub. Notes | |||||||
2.956%(ff) | 05/13/31 | 15 | 12,917 | ||||
3.375% | 05/01/23 | 50 | 49,919 | ||||
3.875% | 09/10/24(a) | 3,775 | 3,710,916 | ||||
5.717%(ff) | 09/14/33 | 20 | 20,406 | ||||
KeyCorp, | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.250% | 04/06/27 | 25 | 21,238 | ||||
M&T Bank Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.550% | 07/26/23 | 25 | 24,567 | ||||
Morgan Stanley, | |||||||
Sr. Unsec’d. Notes | |||||||
6.342%(ff) | 10/18/33 | 2,000 | 2,186,565 | ||||
Sr. Unsec’d. Notes, GMTN | |||||||
2.239%(ff) | 07/21/32 | 630 | 506,767 | ||||
3.772%(ff) | 01/24/29 | 8,775 | 8,314,428 | ||||
3.875% | 01/27/26 | 675 | 659,568 | ||||
4.431%(ff) | 01/23/30 | 515 | 495,687 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
2.188%(ff) | 04/28/26 | 25 | 23,492 | ||||
3.591%(ff) | 07/22/28 | 1,255 | 1,186,321 | ||||
3.971%(ff) | 07/22/38 | 15 | 13,224 | ||||
4.300% | 01/27/45 | 5 | 4,385 | ||||
Sub. Notes, GMTN | |||||||
4.350% | 09/08/26 | 3,825 | 3,731,502 | ||||
PNC Financial Services Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
4.758%(ff) | 01/26/27 | 35 | 34,572 | ||||
Societe Generale SA (France), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.488%(ff) | 12/14/26 | 4,400 | 3,840,195 | ||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
6.447%(ff) | 01/12/27 | 1,495 | 1,487,746 | ||||
State Bank of India (India), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.375% | 01/24/24 | 1,925 | 1,909,720 |
A14
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
State Street Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.857%(ff) | 01/26/26 | 10 | $9,938 | ||||
Sumitomo Mitsui Trust Bank Ltd. (Japan), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
5.650% | 03/09/26 | 1,040 | 1,056,560 | ||||
Texas Capital Bank NA, | |||||||
Sr. Unsec’d. Notes, 144A, 3 Month LIBOR + 4.500% | |||||||
9.659%(c) | 09/30/24 | 2,670 | 2,590,161 | ||||
Toronto-Dominion Bank (The) (Canada), | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
1.150% | 06/12/25 | 35 | 32,146 | ||||
Truist Financial Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
1.950% | 06/05/30 | 10 | 8,069 | ||||
Wells Fargo & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
2.188%(ff) | 04/30/26 | 50 | 46,916 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
2.572%(ff) | 02/11/31 | 4,175 | 3,542,300 | ||||
4.897%(ff) | 07/25/33 | 3,500 | 3,413,880 | ||||
126,995,190 | |||||||
Beverages — 0.1% | |||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium), | |||||||
Gtd. Notes | |||||||
4.900% | 02/01/46 | 630 | 611,092 | ||||
Anheuser-Busch InBev Worldwide, Inc. (Belgium), | |||||||
Gtd. Notes | |||||||
3.500% | 06/01/30 | 25 | 23,582 | ||||
4.600% | 04/15/48 | 360 | 341,004 | ||||
8.000% | 11/15/39 | 1,285 | 1,652,703 | ||||
8.200% | 01/15/39 | 250 | 326,455 | ||||
Constellation Brands, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 08/01/31 | 1,015 | 833,710 | ||||
Keurig Dr. Pepper, Inc., | |||||||
Gtd. Notes | |||||||
4.500% | 04/15/52 | 2,291 | 2,036,376 | ||||
5,824,922 | |||||||
Biotechnology — 0.1% | |||||||
Amgen, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.800% | 08/15/41 | 4,050 | 2,963,957 | ||||
Biogen, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 05/01/30 | 40 | 33,666 | ||||
2,997,623 | |||||||
Building Materials — 0.0% | |||||||
Masonite International Corp., | |||||||
Gtd. Notes, 144A | |||||||
3.500% | 02/15/30 | 550 | 456,500 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Building Materials (cont’d.) | |||||||
Standard Industries, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.375% | 07/15/30 | 760 | $659,872 | ||||
4.750% | 01/15/28 | 700 | 653,481 | ||||
1,769,853 | |||||||
Chemicals — 0.1% | |||||||
Air Products & Chemicals, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.500% | 10/15/25 | 5 | 4,649 | ||||
Dow Chemical Co. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
4.375% | 11/15/42 | 95 | 82,336 | ||||
6.900% | 05/15/53 | 35 | 40,508 | ||||
9.400% | 05/15/39 | 155 | 207,809 | ||||
NOVA Chemicals Corp. (Canada), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.875% | 06/01/24 | 1,300 | 1,279,109 | ||||
Sasol Financing USA LLC (South Africa), | |||||||
Gtd. Notes | |||||||
5.875% | 03/27/24 | 700 | 691,600 | ||||
6.500% | 09/27/28 | 670 | 627,000 | ||||
2,933,011 | |||||||
Commercial Services — 0.1% | |||||||
ERAC USA Finance LLC, | |||||||
Gtd. Notes, 144A | |||||||
4.200% | 11/01/46 | 975 | 825,585 | ||||
6.700% | 06/01/34 | 420 | 476,950 | ||||
7.000% | 10/15/37 | 380 | 449,043 | ||||
George Washington University (The), | |||||||
Unsec’d. Notes, Series 2014 | |||||||
4.300% | 09/15/44 | 5 | 4,465 | ||||
Massachusetts Institute of Technology, | |||||||
Unsec’d. Notes | |||||||
3.885% | 07/01/2116 | 1,500 | 1,181,849 | ||||
Northwestern University, | |||||||
Unsec’d. Notes, Series 2020 | |||||||
2.640% | 12/01/50 | 20 | 13,947 | ||||
PayPal Holdings, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.400% | 10/01/24 | 30 | 29,051 | ||||
RELX Capital, Inc. (United Kingdom), | |||||||
Gtd. Notes | |||||||
3.000% | 05/22/30 | 10 | 8,899 | ||||
Transurban Finance Co. Pty Ltd. (Australia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.125% | 02/02/26 | 5 | 4,837 | ||||
United Rentals North America, Inc., | |||||||
Gtd. Notes | |||||||
3.750% | 01/15/32 | 325 | 279,690 | ||||
4.875% | 01/15/28(a) | 1,190 | 1,137,925 | ||||
5.250% | 01/15/30 | 385 | 370,341 |
A15
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Commercial Services (cont’d.) | |||||||
University of Miami, | |||||||
Sr. Unsec’d. Notes, Series 2022 | |||||||
4.063% | 04/01/52 | 1,170 | $1,011,617 | ||||
5,794,199 | |||||||
Computers — 0.0% | |||||||
Apple, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.650% | 05/11/30 | 15 | 12,765 | ||||
3.200% | 05/13/25 | 25 | 24,527 | ||||
37,292 | |||||||
Distribution/Wholesale — 0.0% | |||||||
Ritchie Bros Holdings, Inc. (Canada), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.750% | 03/15/28 | 75 | 77,237 | ||||
Diversified Financial Services — 0.2% | |||||||
Avolon Holdings Funding Ltd. (Ireland), | |||||||
Gtd. Notes, 144A | |||||||
3.950% | 07/01/24 | 5 | 4,868 | ||||
5.250% | 05/15/24 | 20 | 19,806 | ||||
BOC Aviation USA Corp. (China), | |||||||
Gtd. Notes, 144A, MTN | |||||||
1.625% | 04/29/24 | 670 | 643,863 | ||||
Cantor Fitzgerald LP, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.500% | 04/14/27(a) | 4,985 | 4,715,784 | ||||
Capital One Financial Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 05/11/27 | 20 | 18,271 | ||||
CDP Financial, Inc. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
3.150% | 07/24/24 | 480 | 471,275 | ||||
Discover Financial Services, | |||||||
Sr. Unsec’d. Notes | |||||||
3.750% | 03/04/25 | 5 | 4,743 | ||||
Nomura Holdings, Inc. (Japan), | |||||||
Sr. Unsec’d. Notes | |||||||
2.608% | 07/14/31 | 2,055 | 1,611,828 | ||||
OneMain Finance Corp., | |||||||
Gtd. Notes | |||||||
8.250% | 10/01/23 | 1,600 | 1,604,555 | ||||
Private Export Funding Corp., | |||||||
U.S. Gov’t. Gtd. Notes, Series NN | |||||||
3.250% | 06/15/25 | 330 | 320,768 | ||||
9,415,761 | |||||||
Electric — 1.2% | |||||||
Abu Dhabi National Energy Co. PJSC (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.000% | 04/29/28 | 525 | 465,609 | ||||
AEP Texas, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.950% | 06/01/28 | 2,910 | 2,800,852 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
Alfa Desarrollo SpA (Chile), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.550% | 09/27/51 | 627 | $454,498 | ||||
Appalachian Power Co., | |||||||
Sr. Unsec’d. Notes | |||||||
4.450% | 06/01/45 | 10 | 8,541 | ||||
Baltimore Gas & Electric Co., | |||||||
Sr. Unsec’d. Notes | |||||||
6.350% | 10/01/36 | 550 | 613,501 | ||||
Berkshire Hathaway Energy Co., | |||||||
Sr. Unsec’d. Notes | |||||||
3.800% | 07/15/48 | 15 | 12,115 | ||||
5.950% | 05/15/37 | 305 | 329,217 | ||||
Calpine Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.750% | 03/01/31(a) | 2,000 | 1,698,565 | ||||
CenterPoint Energy Houston Electric LLC, | |||||||
General Ref. Mortgage, Series K2 | |||||||
6.950% | 03/15/33 | 590 | 686,858 | ||||
Comision Federal de Electricidad (Mexico), | |||||||
Gtd. Notes, 144A | |||||||
4.688% | 05/15/29 | 1,400 | 1,244,950 | ||||
Commonwealth Edison Co., | |||||||
First Mortgage, Series 123 | |||||||
3.750% | 08/15/47 | 1,610 | 1,312,108 | ||||
Connecticut Light & Power Co. (The), | |||||||
First Mortgage, Series A | |||||||
2.050% | 07/01/31 | 3,255 | 2,700,039 | ||||
Consolidated Edison Co. of New York, Inc., | |||||||
Sr. Unsec’d. Notes, Series 09-C | |||||||
5.500% | 12/01/39 | 220 | 222,440 | ||||
Duke Energy Carolinas LLC, | |||||||
First Mortgage | |||||||
6.050% | 04/15/38 | 550 | 601,084 | ||||
First Ref. Mortgage | |||||||
4.000% | 09/30/42 | 570 | 487,781 | ||||
El Paso Electric Co., | |||||||
Sr. Unsec’d. Notes | |||||||
6.000% | 05/15/35 | 670 | 696,501 | ||||
Enel Finance International NV (Italy), | |||||||
Gtd. Notes, 144A | |||||||
2.250% | 07/12/31 | 2,140 | 1,667,144 | ||||
Engie Energia Chile SA (Chile), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.400% | 01/28/30 | 400 | 325,825 | ||||
Evergy Kansas Central, Inc., | |||||||
First Mortgage | |||||||
5.700% | 03/15/53 | 1,310 | 1,369,353 | ||||
Eversource Energy, | |||||||
Sr. Unsec’d. Notes, Series M | |||||||
3.300% | 01/15/28 | 5 | 4,698 | ||||
Sr. Unsec’d. Notes, Series N | |||||||
3.800% | 12/01/23 | 10 | 9,883 | ||||
Exelon Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 04/15/26 | 25 | 24,041 |
A16
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
FirstEnergy Corp., | |||||||
Sr. Unsec’d. Notes, Series C | |||||||
7.375% | 11/15/31 | 10 | $11,302 | ||||
FirstEnergy Transmission LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.350% | 01/15/25 | 10 | 9,842 | ||||
Florida Power & Light Co., | |||||||
First Mortgage | |||||||
5.100% | 04/01/33 | 2,840 | 2,942,020 | ||||
5.950% | 10/01/33 | 295 | 322,454 | ||||
Iberdrola International BV (Spain), | |||||||
Gtd. Notes | |||||||
6.750% | 09/15/33 | 145 | 155,945 | ||||
Israel Electric Corp. Ltd. (Israel), | |||||||
Sr. Sec’d. Notes, 144A, GMTN | |||||||
4.250% | 08/14/28 | 470 | 439,979 | ||||
Kentucky Utilities Co., | |||||||
First Mortgage | |||||||
4.375% | 10/01/45 | 10 | 8,578 | ||||
Metropolitan Edison Co., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.200% | 04/01/28 | 900 | 909,089 | ||||
Monongahela Power Co., | |||||||
First Mortgage, 144A | |||||||
4.100% | 04/15/24 | 2,170 | 2,124,709 | ||||
NextEra Energy Capital Holdings, Inc., | |||||||
Gtd. Notes | |||||||
2.440% | 01/15/32 | 25 | 20,729 | ||||
4.900% | 02/28/28(a) | 3,800 | 3,826,179 | ||||
6.051% | 03/01/25 | 780 | 793,679 | ||||
Northern States Power Co., | |||||||
First Mortgage | |||||||
3.600% | 09/15/47 | 1,580 | 1,278,244 | ||||
NRG Energy, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 02/15/31 | 75 | 60,797 | ||||
3.875% | 02/15/32 | 200 | 160,116 | ||||
Sr. Sec’d. Notes, 144A | |||||||
2.000% | 12/02/25 | 320 | 288,162 | ||||
2.450% | 12/02/27 | 1,395 | 1,196,781 | ||||
Pacific Gas & Electric Co., | |||||||
First Mortgage | |||||||
2.100% | 08/01/27 | 10 | 8,720 | ||||
3.950% | 12/01/47 | 2,000 | 1,424,092 | ||||
6.700% | 04/01/53 | 1,120 | 1,153,292 | ||||
PacifiCorp, | |||||||
First Mortgage | |||||||
5.350% | 12/01/53 | 3,010 | 3,088,594 | ||||
PECO Energy Co., | |||||||
First Mortgage | |||||||
2.800% | 06/15/50 | 1,110 | 754,919 | ||||
Public Service Electric & Gas Co., | |||||||
First Mortgage, MTN | |||||||
2.050% | 08/01/50 | 1,005 | 592,672 | ||||
3.700% | 05/01/28 | 1,280 | 1,235,529 | ||||
4.900% | 12/15/32 | 1,050 | 1,073,931 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
Sec’d. Notes, MTN | |||||||
4.650% | 03/15/33 | 1,380 | $1,385,170 | ||||
Sr. Sec’d. Notes, MTN | |||||||
5.800% | 05/01/37 | 535 | 578,846 | ||||
Public Service Enterprise Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.600% | 08/15/30 | 710 | 568,062 | ||||
Puget Energy, Inc., | |||||||
Sr. Sec’d. Notes | |||||||
2.379% | 06/15/28 | 1,115 | 982,229 | ||||
San Diego Gas & Electric Co., | |||||||
First Mortgage | |||||||
4.150% | 05/15/48 | 1,400 | 1,217,743 | ||||
Sempra Energy, | |||||||
Sr. Unsec’d. Notes | |||||||
3.300% | 04/01/25 | 20 | 19,373 | ||||
Southern California Edison Co., | |||||||
First Mortgage | |||||||
5.300% | 03/01/28 | 1,670 | 1,713,255 | ||||
First Ref. Mortgage | |||||||
4.000% | 04/01/47 | 580 | 477,529 | ||||
First Ref. Mortgage, Series C | |||||||
3.600% | 02/01/45 | 860 | 644,200 | ||||
Vistra Operations Co. LLC, | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 07/31/27(a) | 725 | 685,183 | ||||
Sr. Sec’d. Notes, 144A | |||||||
3.550% | 07/15/24 | 2,145 | 2,071,966 | ||||
Xcel Energy, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.800% | 09/15/41 | 480 | 438,546 | ||||
52,398,059 | |||||||
Engineering & Construction — 0.1% | |||||||
AECOM, | |||||||
Gtd. Notes | |||||||
5.125% | 03/15/27 | 575 | 563,978 | ||||
Mexico City Airport Trust (Mexico), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 04/30/28 | 500 | 462,500 | ||||
4.250% | 10/31/26 | 445 | 424,697 | ||||
5.500% | 07/31/47 | 800 | 611,040 | ||||
2,062,215 | |||||||
Entertainment — 0.0% | |||||||
Warnermedia Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.050% | 03/15/42 | 900 | 752,537 | ||||
5.141% | 03/15/52 | 810 | 657,136 | ||||
5.391% | 03/15/62 | 405 | 327,343 | ||||
1,737,016 | |||||||
Environmental Control — 0.0% | |||||||
Clean Harbors, Inc., | |||||||
Gtd. Notes, 144A | |||||||
6.375% | 02/01/31 | 100 | 102,036 |
A17
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Environmental Control (cont’d.) | |||||||
Republic Services, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.500% | 08/15/24 | 15 | $14,536 | ||||
3.375% | 11/15/27 | 5 | 4,775 | ||||
Waste Connections, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.200% | 06/01/32 | 20 | 17,778 | ||||
139,125 | |||||||
Foods — 0.2% | |||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.125% | 02/01/28 | 2,000 | 1,933,516 | ||||
Kraft Heinz Foods Co., | |||||||
Gtd. Notes | |||||||
6.500% | 02/09/40 | 1,420 | 1,558,270 | ||||
Lamb Weston Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.125% | 01/31/30 | 275 | 251,752 | ||||
4.375% | 01/31/32 | 850 | 772,919 | ||||
Mars, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.375% | 07/16/40 | 660 | 476,747 | ||||
Pilgrim’s Pride Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.875% | 09/30/27 | 1,625 | 1,614,816 | ||||
6,608,020 | |||||||
Gas — 0.1% | |||||||
NiSource, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.700% | 02/15/31(a) | 915 | 724,928 | ||||
3.490% | 05/15/27 | 1,425 | 1,351,056 | ||||
3.600% | 05/01/30 | 1,270 | 1,173,548 | ||||
3.950% | 03/30/48 | 15 | 12,224 | ||||
Southern Co. Gas Capital Corp., | |||||||
Gtd. Notes | |||||||
5.150% | 09/15/32 | 30 | 30,274 | ||||
3,292,030 | |||||||
Healthcare-Products — 0.0% | |||||||
Abbott Laboratories, | |||||||
Sr. Unsec’d. Notes | |||||||
1.150% | 01/30/28 | 20 | 17,468 | ||||
Baxter International, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.915% | 02/01/27 | 25 | 22,374 | ||||
Medline Borrower LP, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 04/01/29 | 675 | 585,662 | ||||
625,504 | |||||||
Healthcare-Services — 0.2% | |||||||
Aetna, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
6.625% | 06/15/36 | 515 | 571,442 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Healthcare-Services (cont’d.) | |||||||
AHS Hospital Corp., | |||||||
Unsec’d. Notes | |||||||
5.024% | 07/01/45 | 5 | $4,934 | ||||
Banner Health, | |||||||
Unsec’d. Notes | |||||||
1.897% | 01/01/31 | 5 | 4,093 | ||||
Centra Health, Inc., | |||||||
Unsec’d. Notes | |||||||
4.700% | 01/01/48 | 25 | 22,019 | ||||
CommonSpirit Health, | |||||||
Sr. Sec’d. Notes | |||||||
2.760% | 10/01/24 | 15 | 14,533 | ||||
2.782% | 10/01/30 | 5 | 4,266 | ||||
Elevance Health, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.625% | 05/15/42 | 390 | 363,986 | ||||
4.650% | 01/15/43 | 15 | 14,051 | ||||
Hackensack Meridian Health, Inc., | |||||||
Sr. Sec’d. Notes | |||||||
4.211% | 07/01/48 | 20 | 17,532 | ||||
HCA, Inc., | |||||||
Gtd. Notes | |||||||
4.125% | 06/15/29 | 20 | 18,782 | ||||
5.375% | 02/01/25 | 305 | 305,101 | ||||
Gtd. Notes, 144A | |||||||
4.375% | 03/15/42 | 10 | 8,388 | ||||
Gtd. Notes, MTN | |||||||
7.750% | 07/15/36 | 450 | 503,170 | ||||
Humana, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.700% | 03/23/29 | 15 | 14,071 | ||||
Indiana University Health, Inc. Obligated Group, | |||||||
Sec’d. Notes | |||||||
3.970% | 11/01/48 | 15 | 12,847 | ||||
Kaiser Foundation Hospitals, | |||||||
Gtd. Notes | |||||||
4.150% | 05/01/47 | 940 | 824,913 | ||||
MedStar Health, Inc., | |||||||
Sec’d. Notes, Series 20A | |||||||
3.626% | 08/15/49 | 20 | 14,574 | ||||
Providence St. Joseph Health Obligated Group, | |||||||
Unsec’d. Notes, Series 19A | |||||||
2.532% | 10/01/29 | 765 | 657,545 | ||||
Tenet Healthcare Corp., | |||||||
Sr. Sec’d. Notes | |||||||
4.375% | 01/15/30(a) | 625 | 561,097 | ||||
Trinity Health Corp., | |||||||
Sec’d. Notes | |||||||
4.125% | 12/01/45 | 5 | 4,377 | ||||
UnitedHealth Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.000% | 05/15/30 | 10 | 8,544 | ||||
3.250% | 05/15/51 | 1,000 | 752,196 | ||||
3.750% | 07/15/25 | 5 | 4,945 | ||||
5.050% | 04/15/53 | 3,098 | 3,131,426 |
A18
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Healthcare-Services (cont’d.) | |||||||
6.050% | 02/15/63 | 915 | $1,046,208 | ||||
8,885,040 | |||||||
Home Builders — 0.0% | |||||||
KB Home, | |||||||
Gtd. Notes | |||||||
4.000% | 06/15/31(a) | 575 | 497,903 | ||||
Taylor Morrison Communities, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.875% | 06/15/27 | 525 | 516,663 | ||||
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.625% | 03/01/24 | 800 | 794,000 | ||||
1,808,566 | |||||||
Housewares — 0.0% | |||||||
Newell Brands, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.450%(cc) | 04/01/26 | 275 | 264,756 | ||||
4.875% | 06/01/25 | 1,420 | 1,390,509 | ||||
1,655,265 | |||||||
Insurance — 0.1% | |||||||
American International Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 06/30/30 | 30 | 26,889 | ||||
Aon Corp./Aon Global Holdings PLC, | |||||||
Gtd. Notes | |||||||
5.000% | 09/12/32 | 25 | 25,216 | ||||
Aon Global Ltd., | |||||||
Gtd. Notes | |||||||
3.875% | 12/15/25 | 5 | 4,871 | ||||
Berkshire Hathaway Finance Corp., | |||||||
Gtd. Notes | |||||||
3.850% | 03/15/52 | 50 | 42,032 | ||||
Corebridge Financial, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.400% | 04/05/52 | 35 | 27,356 | ||||
Liberty Mutual Group, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.951% | 10/15/50 | 1,215 | 922,190 | ||||
Lincoln National Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
6.300% | 10/09/37 | 772 | 761,575 | ||||
Markel Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.150% | 09/17/50 | 410 | 328,568 | ||||
5.000% | 03/30/43 | 200 | 177,890 | ||||
Marsh & McLennan Cos., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 11/15/30 | 10 | 8,439 | ||||
3.500% | 06/03/24 | 10 | 9,815 | ||||
4.350% | 01/30/47 | 5 | 4,373 | ||||
New York Life Global Funding, | |||||||
Sec’d. Notes, 144A | |||||||
1.100% | 05/05/23 | 5 | 4,982 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Insurance (cont’d.) | |||||||
New York Life Insurance Co., | |||||||
Sub. Notes, 144A | |||||||
6.750% | 11/15/39 | 660 | $770,300 | ||||
Principal Financial Group, Inc., | |||||||
Gtd. Notes | |||||||
2.125% | 06/15/30 | 20 | 16,669 | ||||
3.400% | 05/15/25 | 10 | 9,642 | ||||
4.625% | 09/15/42 | 130 | 113,056 | ||||
Teachers Insurance & Annuity Association of America, | |||||||
Sub. Notes, 144A | |||||||
4.270% | 05/15/47 | 1,470 | 1,234,070 | ||||
6.850% | 12/16/39 | 124 | 139,565 | ||||
4,627,498 | |||||||
Internet — 0.0% | |||||||
Amazon.com, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.800% | 08/22/24 | 5 | 4,892 | ||||
3.875% | 08/22/37 | 10 | 9,316 | ||||
Booking Holdings, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 03/15/25 | 5 | 4,896 | ||||
19,104 | |||||||
Iron/Steel — 0.0% | |||||||
Nucor Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.700% | 06/01/30 | 10 | 8,772 | ||||
3.950% | 05/01/28 | 15 | 14,464 | ||||
23,236 | |||||||
Lodging — 0.0% | |||||||
Marriott International, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.900% | 04/15/29 | 555 | 549,855 | ||||
5.000% | 10/15/27 | 15 | 15,034 | ||||
564,889 | |||||||
Machinery-Diversified — 0.0% | |||||||
John Deere Capital Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.125% | 03/07/25 | 25 | 23,944 | ||||
4.150% | 09/15/27 | 25 | 24,870 | ||||
48,814 | |||||||
Media — 0.3% | |||||||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.500% | 05/01/26 | 750 | 730,222 | ||||
Charter Communications Operating LLC/Charter Communications Operating Capital, | |||||||
Sr. Sec’d. Notes | |||||||
3.900% | 06/01/52 | 580 | 382,075 | ||||
4.908% | 07/23/25 | 10 | 9,890 | ||||
5.375% | 04/01/38 | 1,950 | 1,696,211 | ||||
6.384% | 10/23/35 | 875 | 868,371 |
A19
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Media (cont’d.) | |||||||
6.484% | 10/23/45 | 1,386 | $1,306,445 | ||||
Comcast Corp., | |||||||
Gtd. Notes | |||||||
3.950% | 10/15/25 | 275 | 271,882 | ||||
Cox Communications, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.600% | 06/15/31 | 5,275 | 4,363,422 | ||||
CSC Holdings LLC, | |||||||
Gtd. Notes, 144A | |||||||
4.500% | 11/15/31 | 1,400 | 1,002,570 | ||||
Thomson Reuters Corp. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
3.350% | 05/15/26 | 5 | 4,784 | ||||
Time Warner Cable LLC, | |||||||
Sr. Sec’d. Notes | |||||||
5.500% | 09/01/41 | 360 | 311,001 | ||||
Walt Disney Co. (The), | |||||||
Gtd. Notes | |||||||
3.800% | 03/22/30 | 50 | 48,206 | ||||
10,995,079 | |||||||
Mining — 0.1% | |||||||
Freeport Indonesia PT (Indonesia), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
4.763% | 04/14/27 | 215 | 209,262 | ||||
Yamana Gold, Inc. (Canada), | |||||||
Gtd. Notes | |||||||
2.630% | 08/15/31 | 3,050 | 2,446,690 | ||||
2,655,952 | |||||||
Miscellaneous Manufacturing — 0.0% | |||||||
Amsted Industries, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.625% | 07/01/27 | 1,200 | 1,166,457 | ||||
Office/Business Equipment — 0.1% | |||||||
CDW LLC/CDW Finance Corp., | |||||||
Gtd. Notes | |||||||
2.670% | 12/01/26 | 1,810 | 1,647,530 | ||||
5.500% | 12/01/24 | 700 | 698,820 | ||||
2,346,350 | |||||||
Oil & Gas — 0.4% | |||||||
Aker BP ASA (Norway), | |||||||
Gtd. Notes, 144A | |||||||
3.100% | 07/15/31 | 755 | 635,862 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
3.750% | 01/15/30 | 3,250 | 2,926,871 | ||||
BP Capital Markets America, Inc., | |||||||
Gtd. Notes | |||||||
3.410% | 02/11/26 | 25 | 24,354 | ||||
Canadian Natural Resources Ltd. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 07/15/30 | 20 | 17,326 | ||||
Cenovus Energy, Inc. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
5.400% | 06/15/47 | 1,200 | 1,115,663 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Oil & Gas (cont’d.) | |||||||
Chevron Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
1.995% | 05/11/27 | 10 | $9,181 | ||||
Devon Energy Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.600% | 07/15/41 | 300 | 287,389 | ||||
Ecopetrol SA (Colombia), | |||||||
Sr. Unsec’d. Notes | |||||||
6.875% | 04/29/30 | 637 | 582,880 | ||||
Endeavor Energy Resources LP/EER Finance, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.750% | 01/30/28 | 500 | 496,378 | ||||
Energean Israel Finance Ltd. (Israel), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.500% | 03/30/24 | 570 | 552,187 | ||||
4.875% | 03/30/26 | 795 | 732,990 | ||||
Hilcorp Energy I LP/Hilcorp Finance Co., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.000% | 04/15/30 | 400 | 368,919 | ||||
6.250% | 04/15/32 | 500 | 462,268 | ||||
KazMunayGas National Co. JSC (Kazakhstan), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 04/24/25 | 550 | 530,338 | ||||
Korea National Oil Corp. (South Korea), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 04/03/26 | 510 | 508,230 | ||||
4.875% | 04/03/28 | 530 | 533,530 | ||||
Petroleos Mexicanos (Mexico), | |||||||
Gtd. Notes | |||||||
5.950% | 01/28/31 | 2,146 | 1,632,891 | ||||
6.490% | 01/23/27 | 471 | 427,433 | ||||
6.500% | 03/13/27 | 330 | 298,188 | ||||
Gtd. Notes, MTN | |||||||
6.750% | 09/21/47 | 313 | 202,276 | ||||
6.875% | 08/04/26(a) | 670 | 633,083 | ||||
QatarEnergy (Qatar), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.375% | 09/12/26 | 2,159 | 1,935,409 | ||||
2.250% | 07/12/31 | 820 | 694,335 | ||||
Shell International Finance BV (Netherlands), | |||||||
Gtd. Notes | |||||||
3.250% | 05/11/25 | 10 | 9,770 | ||||
Southwestern Energy Co., | |||||||
Gtd. Notes | |||||||
4.750% | 02/01/32(a) | 500 | 441,823 | ||||
TotalEnergies Capital International SA (France), | |||||||
Gtd. Notes | |||||||
2.434% | 01/10/25 | 30 | 28,994 | ||||
16,088,568 | |||||||
Packaging & Containers — 0.1% | |||||||
Ball Corp., | |||||||
Gtd. Notes | |||||||
3.125% | 09/15/31 | 425 | 351,805 |
A20
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Packaging & Containers (cont’d.) | |||||||
Berry Global, Inc., | |||||||
Sr. Sec’d. Notes | |||||||
1.570% | 01/15/26 | 5,135 | $4,665,137 | ||||
Graphic Packaging International LLC, | |||||||
Gtd. Notes | |||||||
4.125% | 08/15/24 | 625 | 613,101 | ||||
Sealed Air Corp./Sealed Air Corp. US, | |||||||
Gtd. Notes, 144A | |||||||
6.125% | 02/01/28 | 125 | 126,486 | ||||
5,756,529 | |||||||
Pharmaceuticals — 0.7% | |||||||
AbbVie, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 11/21/26 | 10 | 9,516 | ||||
3.600% | 05/14/25 | 10 | 9,810 | ||||
3.800% | 03/15/25 | 1,175 | 1,156,050 | ||||
4.250% | 11/21/49 | 1,750 | 1,543,903 | ||||
4.500% | 05/14/35 | 1,920 | 1,861,448 | ||||
4.550% | 03/15/35 | 2,190 | 2,142,020 | ||||
4.700% | 05/14/45 | 1,475 | 1,384,251 | ||||
AstraZeneca PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 09/18/42 | 25 | 22,610 | ||||
Bayer US Finance II LLC (Germany), | |||||||
Gtd. Notes, 144A | |||||||
4.250% | 12/15/25 | 1,600 | 1,566,493 | ||||
Becton, Dickinson & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
2.823% | 05/20/30 | 20 | 17,835 | ||||
3.700% | 06/06/27 | 17 | 16,432 | ||||
3.734% | 12/15/24 | 130 | 127,346 | ||||
Bristol-Myers Squibb Co., | |||||||
Sr. Unsec’d. Notes | |||||||
4.125% | 06/15/39 | 410 | 381,748 | ||||
Cardinal Health, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.410% | 06/15/27 | 15 | 14,217 | ||||
3.750% | 09/15/25 | 5 | 4,880 | ||||
Cigna Group (The), | |||||||
Gtd. Notes | |||||||
3.750% | 07/15/23 | 9 | 8,955 | ||||
4.375% | 10/15/28 | 9,285 | 9,145,691 | ||||
CVS Health Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.250% | 08/15/29 | 50 | 45,733 | ||||
4.780% | 03/25/38 | 3,750 | 3,572,994 | ||||
5.300% | 12/05/43 | 250 | 245,655 | ||||
Eli Lilly & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
4.875% | 02/27/53 | 340 | 351,542 | ||||
4.950% | 02/27/63 | 165 | 169,498 | ||||
Mylan, Inc., | |||||||
Gtd. Notes | |||||||
5.200% | 04/15/48 | 1,375 | 1,083,792 | ||||
5.400% | 11/29/43 | 845 | 701,922 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pharmaceuticals (cont’d.) | |||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.125% | 04/30/28 | 900 | $828,321 | ||||
Viatris, Inc., | |||||||
Gtd. Notes | |||||||
3.850% | 06/22/40 | 470 | 330,238 | ||||
Wyeth LLC, | |||||||
Gtd. Notes | |||||||
6.450% | 02/01/24 | 60 | 60,644 | ||||
Zoetis, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.000% | 05/15/30 | 35 | 29,444 | ||||
5.600% | 11/16/32 | 2,658 | 2,835,636 | ||||
29,668,624 | |||||||
Pipelines — 0.8% | |||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.750% | 01/15/28 | 750 | 720,856 | ||||
Boardwalk Pipelines LP, | |||||||
Gtd. Notes | |||||||
3.400% | 02/15/31 | 1,625 | 1,418,137 | ||||
4.950% | 12/15/24 | 5 | 4,969 | ||||
DCP Midstream Operating LP, | |||||||
Gtd. Notes | |||||||
5.125% | 05/15/29 | 5,240 | 5,170,248 | ||||
Eastern Gas Transmission & Storage, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.600% | 12/15/44 | 65 | 56,622 | ||||
EIG Pearl Holdings Sarl (Saudi Arabia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.545% | 08/31/36 | 1,429 | 1,220,009 | ||||
Energy Transfer LP, | |||||||
Sr. Unsec’d. Notes | |||||||
4.950% | 06/15/28 | 1,115 | 1,107,827 | ||||
5.000% | 05/15/50 | 965 | 821,077 | ||||
5.250% | 04/15/29 | 10 | 9,975 | ||||
6.125% | 12/15/45 | 180 | 173,444 | ||||
6.250% | 04/15/49 | 1,900 | 1,881,604 | ||||
6.500% | 02/01/42 | 25 | 25,957 | ||||
EQM Midstream Partners LP, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
7.500% | 06/01/27 | 50 | 50,183 | ||||
7.500% | 06/01/30 | 50 | 48,422 | ||||
Florida Gas Transmission Co. LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.350% | 07/15/25 | 5 | 4,910 | ||||
Greensaif Pipelines Bidco Sarl (Saudi Arabia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.129% | 02/23/38 | 550 | 564,437 | ||||
6.510% | 02/23/42 | 715 | 751,331 | ||||
Kinder Morgan, Inc., | |||||||
Gtd. Notes | |||||||
3.600% | 02/15/51 | 2,260 | 1,600,671 |
A21
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pipelines (cont’d.) | |||||||
MPLX LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 08/15/30 | 595 | $505,459 | ||||
4.000% | 02/15/25 | 1,430 | 1,400,602 | ||||
4.000% | 03/15/28 | 1,385 | 1,325,587 | ||||
4.875% | 06/01/25 | 3,250 | 3,227,440 | ||||
5.200% | 03/01/47 | 40 | 35,863 | ||||
5.500% | 02/15/49 | 395 | 367,698 | ||||
ONEOK Partners LP, | |||||||
Gtd. Notes | |||||||
6.650% | 10/01/36 | 145 | 151,148 | ||||
ONEOK, Inc., | |||||||
Gtd. Notes | |||||||
3.100% | 03/15/30 | 5,205 | 4,557,617 | ||||
4.500% | 03/15/50 | 295 | 228,830 | ||||
4.950% | 07/13/47 | 935 | 782,763 | ||||
Plains All American Pipeline LP/PAA Finance Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.600% | 11/01/24 | 5 | 4,877 | ||||
Spectra Energy Partners LP, | |||||||
Gtd. Notes | |||||||
3.375% | 10/15/26 | 15 | 14,252 | ||||
Targa Resources Corp., | |||||||
Gtd. Notes | |||||||
6.125% | 03/15/33 | 2,605 | 2,694,888 | ||||
Venture Global Calcasieu Pass LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 08/15/29 | 115 | 103,726 | ||||
4.125% | 08/15/31 | 90 | 79,031 | ||||
Western Midstream Operating LP, | |||||||
Sr. Unsec’d. Notes | |||||||
5.300% | 03/01/48 | 125 | 106,692 | ||||
Williams Cos., Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
4.900% | 01/15/45 | 1,000 | 880,370 | ||||
5.100% | 09/15/45 | 500 | 458,987 | ||||
5.300% | 08/15/52 | 290 | 273,809 | ||||
32,830,318 | |||||||
Real Estate Investment Trusts (REITs) — 0.4% | |||||||
Alexandria Real Estate Equities, Inc., | |||||||
Gtd. Notes | |||||||
2.000% | 05/18/32 | 1,815 | 1,386,752 | ||||
4.750% | 04/15/35 | 405 | 379,466 | ||||
American Tower Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
1.450% | 09/15/26 | 30 | 26,658 | ||||
3.600% | 01/15/28 | 5,420 | 5,090,503 | ||||
Brixmor Operating Partnership LP, | |||||||
Sr. Unsec’d. Notes | |||||||
3.850% | 02/01/25 | 5 | 4,792 | ||||
3.900% | 03/15/27 | 5 | 4,631 | ||||
4.050% | 07/01/30 | 5 | 4,479 | ||||
Corporate Office Properties LP, | |||||||
Gtd. Notes | |||||||
2.900% | 12/01/33 | 1,345 | 935,549 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Real Estate Investment Trusts (REITs) (cont’d.) | |||||||
Crown Castle, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.900% | 03/15/27 | 10 | $9,272 | ||||
3.700% | 06/15/26 | 10 | 9,635 | ||||
4.750% | 05/15/47 | 5 | 4,371 | ||||
Essex Portfolio LP, | |||||||
Gtd. Notes | |||||||
2.650% | 03/15/32 | 15 | 12,217 | ||||
3.000% | 01/15/30 | 5 | 4,391 | ||||
GLP Capital LP/GLP Financing II, Inc., | |||||||
Gtd. Notes | |||||||
5.375% | 04/15/26 | 1,050 | 1,020,819 | ||||
Healthpeak OP LLC, | |||||||
Gtd. Notes | |||||||
2.125% | 12/01/28 | 5 | 4,336 | ||||
2.875% | 01/15/31 | 5 | 4,303 | ||||
Kimco Realty OP LLC, | |||||||
Gtd. Notes | |||||||
2.700% | 10/01/30 | 3,480 | 2,895,140 | ||||
MPT Operating Partnership LP/MPT Finance Corp., | |||||||
Gtd. Notes | |||||||
3.500% | 03/15/31 | 950 | 634,794 | ||||
5.000% | 10/15/27(a) | 400 | 328,921 | ||||
Prologis LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.125% | 04/15/27 | 5 | 4,560 | ||||
Public Storage, | |||||||
Sr. Unsec’d. Notes | |||||||
1.950% | 11/09/28 | 10 | 8,726 | ||||
2.250% | 11/09/31 | 1,288 | 1,069,048 | ||||
Realty Income Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.250% | 01/15/31 | 3,235 | 2,847,954 | ||||
4.625% | 11/01/25 | 20 | 19,747 | ||||
Simon Property Group LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 02/01/32 | 30 | 24,287 | ||||
3.375% | 10/01/24 | 5 | 4,879 | ||||
Sun Communities Operating LP, | |||||||
Gtd. Notes | |||||||
2.700% | 07/15/31 | 3,000 | 2,430,044 | ||||
WP Carey, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.850% | 07/15/29 | 20 | 18,551 | ||||
19,188,825 | |||||||
Retail — 0.2% | |||||||
1011778 BC ULC/New Red Finance, Inc. (Canada), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 01/15/28(a) | 675 | 627,750 | ||||
Advance Auto Parts, Inc., | |||||||
Gtd. Notes | |||||||
5.900% | 03/09/26 | 830 | 847,589 | ||||
AutoZone, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.650% | 01/15/31 | 770 | 612,670 |
A22
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Retail (cont’d.) | |||||||
3.125% | 04/21/26 | 5 | $4,784 | ||||
3.750% | 06/01/27 | 15 | 14,518 | ||||
Dollar General Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.625% | 11/01/27 | 30 | 29,948 | ||||
Dollar Tree, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 05/15/25 | 4,705 | 4,614,617 | ||||
Gap, Inc. (The), | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 10/01/29 | 275 | 192,241 | ||||
3.875% | 10/01/31 | 275 | 186,621 | ||||
Home Depot, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.500% | 04/15/27 | 50 | 46,931 | ||||
Lowe’s Cos., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.000% | 04/15/33 | 30 | 29,966 | ||||
O’Reilly Automotive, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.600% | 09/01/27 | 20 | 19,323 | ||||
Sally Holdings LLC/Sally Capital, Inc., | |||||||
Gtd. Notes | |||||||
5.625% | 12/01/25 | 1,375 | 1,358,861 | ||||
TJX Cos., Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
1.600% | 05/15/31 | 5 | 4,077 | ||||
Walmart, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.900% | 09/09/25 | 20 | 19,952 | ||||
8,609,848 | |||||||
Semiconductors — 0.1% | |||||||
Broadcom, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.137% | 11/15/35 | 320 | 246,609 | ||||
3.187% | 11/15/36 | 4,445 | 3,369,018 | ||||
Intel Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.625% | 02/10/43 | 385 | 394,386 | ||||
NXP BV/NXP Funding LLC/NXP USA, Inc. (China), | |||||||
Gtd. Notes | |||||||
2.650% | 02/15/32 | 25 | 20,411 | ||||
3.150% | 05/01/27 | 5 | 4,621 | ||||
QUALCOMM, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.150% | 05/20/30 | 25 | 21,906 | ||||
3.250% | 05/20/27 | 12 | 11,608 | ||||
Texas Instruments, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.750% | 05/04/30 | 15 | 12,717 | ||||
4,081,276 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Software — 0.2% | |||||||
Fiserv, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.200% | 07/01/26 | 10 | $9,492 | ||||
5.450% | 03/02/28 | 2,560 | 2,614,915 | ||||
Microsoft Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.525% | 06/01/50 | 1,425 | 1,003,581 | ||||
2.921% | 03/17/52 | 60 | 45,467 | ||||
Oracle Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.400% | 09/15/23 | 25 | 24,669 | ||||
4.900% | 02/06/33 | 2,500 | 2,448,196 | ||||
Roper Technologies, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 09/15/29 | 5 | 4,488 | ||||
3.800% | 12/15/26 | 15 | 14,522 | ||||
ServiceNow, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.400% | 09/01/30 | 2,055 | 1,656,361 | ||||
7,821,691 | |||||||
Telecommunications — 0.4% | |||||||
AT&T, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 02/01/32 | 50 | 40,833 | ||||
2.550% | 12/01/33 | 576 | 463,343 | ||||
3.500% | 09/15/53 | 5,308 | 3,854,486 | ||||
3.650% | 09/15/59 | 160 | 114,321 | ||||
4.300% | 02/15/30 | 615 | 598,006 | ||||
4.500% | 05/15/35 | 545 | 511,080 | ||||
Level 3 Financing, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.400% | 03/01/27 | 300 | 237,065 | ||||
Rogers Communications, Inc. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
4.500% | 03/15/42 | 60 | 51,059 | ||||
T-Mobile USA, Inc., | |||||||
Gtd. Notes | |||||||
2.050% | 02/15/28 | 380 | 337,531 | ||||
2.550% | 02/15/31 | 1,385 | 1,173,263 | ||||
3.875% | 04/15/30 | 8,000 | 7,503,115 | ||||
Verizon Communications, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.550% | 03/21/31(a) | 1,600 | 1,363,124 | ||||
2.625% | 08/15/26 | 45 | 42,545 | ||||
2.650% | 11/20/40 | 1,595 | 1,139,171 | ||||
4.016% | 12/03/29 | 1,900 | 1,819,819 | ||||
19,248,761 | |||||||
Transportation — 0.0% | |||||||
Burlington Northern Santa Fe LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
4.150% | 04/01/45 | 10 | 8,900 | ||||
6.700% | 08/01/28 | 670 | 724,140 |
A23
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Transportation (cont’d.) | |||||||
Canadian Pacific Railway Co. (Canada), | |||||||
Gtd. Notes | |||||||
1.750% | 12/02/26 | 10 | $9,060 | ||||
CSX Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
6.150% | 05/01/37 | 715 | 787,009 | ||||
Kansas City Southern, | |||||||
Gtd. Notes | |||||||
2.875% | 11/15/29 | 5 | 4,482 | ||||
3.500% | 05/01/50 | 20 | 15,089 | ||||
Norfolk Southern Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.590% | 05/17/25 | 100 | 101,119 | ||||
1,649,799 | |||||||
Total Corporate Bonds (cost $477,860,575) | 443,899,051 | ||||||
Municipal Bonds — 0.3% | |||||||
Alabama — 0.0% | |||||||
Alabama Economic Settlement Authority, | |||||||
Taxable, Revenue Bonds, Series B | |||||||
4.263% | 09/15/32 | 240 | 230,415 | ||||
California — 0.1% | |||||||
Bay Area Toll Authority, | |||||||
Revenue Bonds, BABs, Series F2 | |||||||
6.263% | 04/01/49 | 1,325 | 1,612,225 | ||||
Taxable, Revenue Bonds | |||||||
2.574% | 04/01/31 | 1,210 | 1,080,542 | ||||
Taxable, Revenue Bonds, Series S | |||||||
3.176% | 04/01/41 | 25 | 20,117 | ||||
State of California, | |||||||
General Obligation Unlimited, BABs | |||||||
7.300% | 10/01/39 | 1,270 | 1,580,608 | ||||
General Obligation Unlimited, Taxable, BABs | |||||||
7.500% | 04/01/34 | 475 | 594,790 | ||||
7.625% | 03/01/40 | 220 | 285,402 | ||||
7.550% | 04/01/39 | 245 | 316,854 | ||||
University of California, | |||||||
Taxable, Revenue Bonds, Series J | |||||||
4.131% | 05/15/45 | 5 | 4,554 | ||||
5,495,092 | |||||||
Colorado — 0.0% | |||||||
Regional Transportation District Sales Tax Revenue, | |||||||
Revenue Bonds, BABs, Series B | |||||||
5.844% | 11/01/50 | 680 | 774,096 | ||||
Florida — 0.0% | |||||||
County of Miami-Dade Transit System, | |||||||
Revenue Bonds, BABs, Series B | |||||||
5.624% | 07/01/40 | 10 | 10,656 | ||||
County of Miami-Dade Water & Sewer System Revenue, | |||||||
Taxable, Revenue Bonds, Series C | |||||||
3.490% | 10/01/42 | 5 | 4,128 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Municipal Bonds (continued) | |||||||
Florida (cont’d.) | |||||||
Florida Development Finance Corp., | |||||||
Taxable, Revenue Bonds, Series B | |||||||
4.109% | 04/01/50 | 40 | $31,330 | ||||
46,114 | |||||||
Georgia — 0.0% | |||||||
Municipal Electric Authority of Georgia, | |||||||
Taxable, Revenue Bonds, BABs | |||||||
6.655% | 04/01/57 | 14 | 15,516 | ||||
Illinois — 0.1% | |||||||
Chicago O’Hare International Airport, | |||||||
Revenue Bonds, BABs, Series B | |||||||
6.395% | 01/01/40 | 1,030 | 1,209,896 | ||||
Michigan — 0.0% | |||||||
Great Lakes Water Authority Water Supply System Revenue, | |||||||
Taxable, Revenue Bonds, Series C | |||||||
3.473% | 07/01/41 | 30 | 25,804 | ||||
New Jersey — 0.1% | |||||||
New Jersey Turnpike Authority, | |||||||
Taxable, Revenue Bonds, BABs, Series F | |||||||
7.414% | 01/01/40 | 1,070 | 1,345,310 | ||||
New York — 0.0% | |||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, | |||||||
Taxable, Revenue Bonds, BABs | |||||||
5.767% | 08/01/36 | 1,075 | 1,133,181 | ||||
New York State Urban Development Corp., | |||||||
Taxable, Revenue Bonds, Series B | |||||||
2.590% | 03/15/35 | 30 | 24,190 | ||||
1,157,371 | |||||||
Ohio — 0.0% | |||||||
Ohio State University (The), | |||||||
Taxable, Revenue Bonds, BABs, Series C | |||||||
4.910% | 06/01/40 | 455 | 462,149 | ||||
Ohio Water Development Authority Water Pollution Control Loan Fund, | |||||||
Taxable, Revenue Bonds, BABs, Series B2 | |||||||
4.879% | 12/01/34 | 300 | 305,900 | ||||
768,049 | |||||||
Oregon — 0.0% | |||||||
State of Oregon Department of Transportation, | |||||||
Taxable, Revenue Bonds, BABs, Series A | |||||||
5.834% | 11/15/34 | 445 | 494,122 | ||||
Pennsylvania — 0.0% | |||||||
Pennsylvania Turnpike Commission, | |||||||
Revenue Bonds, BABs, Series B | |||||||
5.511% | 12/01/45 | 550 | 599,784 | ||||
South Carolina — 0.0% | |||||||
South Carolina Public Service Authority, | |||||||
Taxable, Revenue Bonds, Series D | |||||||
2.388% | 12/01/23 | 5 | 4,926 |
A24
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Municipal Bonds (continued) | |||||||
Texas — 0.0% | |||||||
Central Texas Regional Mobility Authority, | |||||||
Taxable, Revenue Bonds, Series E | |||||||
3.167% | 01/01/41 | 15 | $11,471 | ||||
Dallas Fort Worth International Airport, | |||||||
Taxable, Revenue Bonds | |||||||
2.843% | 11/01/46 | 15 | 11,112 | ||||
Taxable, Revenue Bonds, Series A | |||||||
4.087% | 11/01/51 | 25 | 22,390 | ||||
Texas A&M University, | |||||||
Taxable, Revenue Bonds, Series B | |||||||
3.330% | 05/15/39 | 25 | 21,672 | ||||
66,645 | |||||||
Virginia — 0.0% | |||||||
University of Virginia, | |||||||
Taxable, Revenue Bonds, Series C | |||||||
4.179% | 09/01/2117 | 495 | 410,189 | ||||
Wisconsin — 0.0% | |||||||
State of Wisconsin, | |||||||
Taxable, Revenue Bonds, Series A | |||||||
3.954% | 05/01/36 | 15 | 13,979 | ||||
Total Municipal Bonds (cost $11,473,199) | 12,657,308 | ||||||
Residential Mortgage-Backed Securities — 1.5% | |||||||
Alternative Loan Trust, | |||||||
Series 2004-18CB, Class 3A1 | |||||||
5.250% | 09/25/35 | 8 | 7,350 | ||||
Angel Oak Mortgage Trust, | |||||||
Series 2021-01, Class A1, 144A | |||||||
0.909%(cc) | 01/25/66 | 17 | 14,184 | ||||
Banc of America Mortgage Trust, | |||||||
Series 2005-A, Class 2A1 | |||||||
3.901%(cc) | 02/25/35 | 97 | 90,828 | ||||
Bellemeade Re Ltd., | |||||||
Series 2021-02A, Class M1A, 144A, 30 Day Average SOFR + 1.200% (Cap N/A, Floor 1.200%) | |||||||
5.760%(c) | 06/25/31 | 1,716 | 1,703,143 | ||||
Series 2021-03A, Class A2, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
5.560%(c) | 09/25/31 | 2,100 | 2,038,060 | ||||
Series 2021-03A, Class M1A, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
5.560%(c) | 09/25/31 | 1,242 | 1,232,463 | ||||
Series 2022-01, Class M1A, 144A, 30 Day Average SOFR + 1.750% (Cap N/A, Floor 1.750%) | |||||||
6.310%(c) | 01/26/32 | 3,260 | 3,247,616 | ||||
Chase Mortgage Finance Trust, | |||||||
Series 2007-A01, Class 1A5 | |||||||
3.949%(cc) | 02/25/37 | 72 | 68,016 | ||||
Citigroup Mortgage Loan Trust, | |||||||
Series 2022-A, Class A1, 144A | |||||||
6.170% | 09/25/62 | 670 | 665,932 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Connecticut Avenue Securities Trust, | |||||||
Series 2022-R01, Class 1M1, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
5.560%(c) | 12/25/41 | 6 | $6,009 | ||||
Series 2022-R01, Class 1M2, 144A, 30 Day Average SOFR + 1.900% (Cap N/A, Floor 0.000%) | |||||||
6.460%(c) | 12/25/41 | 1,760 | 1,684,750 | ||||
Series 2022-R04, Class 1M1, 144A, 30 Day Average SOFR + 2.000% (Cap N/A, Floor 0.000%) | |||||||
6.560%(c) | 03/25/42 | 8 | 7,661 | ||||
Series 2023-R02, Class 1M1, 144A, 30 Day Average SOFR + 2.300% (Cap N/A, Floor 0.000%) | |||||||
6.868%(c) | 01/25/43 | 10 | 9,814 | ||||
Credit Suisse Mortgage Trust, | |||||||
Series 2018-RPL09, Class A, 144A | |||||||
3.850%(cc) | 09/25/57 | 676 | 637,037 | ||||
Eagle Re Ltd., | |||||||
Series 2019-01, Class M1B, 144A, 1 Month LIBOR + 1.800% (Cap N/A, Floor 0.000%) | |||||||
6.645%(c) | 04/25/29 | 180 | 180,178 | ||||
Series 2021-02, Class M1A, 144A, 30 Day Average SOFR + 1.550% (Cap N/A, Floor 1.550%) | |||||||
6.110%(c) | 04/25/34 | 4,286 | 4,273,442 | ||||
Fannie Mae Connecticut Avenue Securities, | |||||||
Series 2017-C05, Class 1ED3, 1 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%) | |||||||
6.045%(c) | 01/25/30 | 2 | 2,307 | ||||
Series 2017-C06, Class 2ED1, 1 Month LIBOR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
5.845%(c) | 02/25/30 | 3 | 2,579 | ||||
Series 2018-C03, Class 1EB2, 1 Month LIBOR + 0.850% (Cap N/A, Floor 0.850%) | |||||||
5.695%(c) | 10/25/30 | 7 | 6,803 | ||||
Series 2021-R02, Class 2M1, 144A, 30 Day Average SOFR + 0.900% (Cap N/A, Floor 0.000%) | |||||||
5.460%(c) | 11/25/41 | 9 | 9,322 | ||||
Fannie Mae REMIC, | |||||||
Series 2014-73, Class CZ | |||||||
3.000% | 11/25/44 | 1,561 | 1,404,521 | ||||
Series 2020-24, Class SP, IO, 1 Month LIBOR x (1) + 6.050% (Cap 6.050%, Floor 0.000%) | |||||||
1.205%(c) | 04/25/50 | 1,132 | 142,339 | ||||
Series 2020-45, Class ZC | |||||||
2.000% | 07/25/50 | 2,240 | 1,563,321 | ||||
Series 2022-51, Class PS, IO, 30 Day Average SOFR x (1) + 5.950% (Cap 5.950%, Floor 0.000%) | |||||||
1.390%(c) | 08/25/52 | 2,679 | 182,396 | ||||
Series 2022-67, Class ZJ | |||||||
4.500% | 10/25/52 | 4,148 | 3,942,148 | ||||
FHLMC Structured Agency Credit Risk Debt Notes, | |||||||
Series 2020-HQA05, Class M2, 144A, 30 Day Average SOFR + 2.600% (Cap N/A, Floor 0.000%) | |||||||
7.160%(c) | 11/25/50 | 1,714 | 1,715,352 | ||||
Series 2021-DNA02, Class M1, 144A, 30 Day Average SOFR + 0.800% (Cap N/A, Floor 0.000%) | |||||||
5.360%(c) | 08/25/33 | —(r) | 237 |
A25
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
FHLMC Structured Agency Credit Risk REMIC Trust, | |||||||
Series 2020-HQA04, Class B1, 144A, 1 Month LIBOR + 5.250% (Cap N/A, Floor 0.000%) | |||||||
10.095%(c) | 09/25/50 | 220 | $230,682 | ||||
Series 2021-DNA03, Class M2, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | |||||||
6.660%(c) | 10/25/33 | 10 | 9,663 | ||||
Series 2021-DNA05, Class M2, 144A, 30 Day Average SOFR + 1.650% (Cap N/A, Floor 0.000%) | |||||||
6.210%(c) | 01/25/34 | 243 | 238,226 | ||||
Series 2021-DNA07, Class M1, 144A, 30 Day Average SOFR + 0.850% (Cap N/A, Floor 0.000%) | |||||||
5.410%(c) | 11/25/41 | 13 | 12,858 | ||||
Series 2021-HQA01, Class M1, 144A, 30 Day Average SOFR + 0.700% (Cap N/A, Floor 0.000%) | |||||||
5.260%(c) | 08/25/33 | —(r) | 90 | ||||
Series 2021-HQA03, Class M1, 144A, 30 Day Average SOFR + 0.850% (Cap N/A, Floor 0.000%) | |||||||
5.410%(c) | 09/25/41 | 5,905 | 5,697,481 | ||||
Series 2022-DNA01, Class M1A, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
5.560%(c) | 01/25/42 | 1,370 | 1,343,027 | ||||
Series 2022-DNA04, Class M1A, 144A, 30 Day Average SOFR + 2.200% (Cap N/A, Floor 0.000%) | |||||||
6.760%(c) | 05/25/42 | 21 | 20,668 | ||||
Series 2022-DNA05, Class M1A, 144A, 30 Day Average SOFR + 2.950% (Cap N/A, Floor 0.000%) | |||||||
7.510%(c) | 06/25/42 | 21 | 21,544 | ||||
Series 2022-HQA01, Class M1A, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | |||||||
6.660%(c) | 03/25/42 | 15 | 15,415 | ||||
Freddie Mac REMIC, | |||||||
Series 4117, Class ZC | |||||||
3.000% | 10/15/42 | 2,608 | 2,375,379 | ||||
Series 4213, Class GZ | |||||||
3.500% | 06/15/43 | 5,609 | 5,261,657 | ||||
Series 4535, Class PA | |||||||
3.000% | 03/15/44 | 514 | 489,339 | ||||
Series 4680, Class GZ | |||||||
3.500% | 03/15/47 | 3,660 | 3,363,734 | ||||
Series 5021, Class SB, IO, 30 Day Average SOFR x (1) + 3.550% (Cap 3.550%, Floor 0.000%) | |||||||
0.000%(c) | 10/25/50 | 3,847 | 148,541 | ||||
Series 5222, Class SA, IO, 30 Day Average SOFR x (1) + 3.500% (Cap 3.500%, Floor 0.000%) | |||||||
0.000%(c) | 05/25/52 | 436 | 8,657 | ||||
Series 5250, Class NH | |||||||
3.000% | 08/25/52 | 1,000 | 869,107 | ||||
Series 5281, Class AY | |||||||
2.500% | 08/25/52 | 811 | 648,590 | ||||
Freddie Mac Structured Agency Credit Risk REMIC Trust, | |||||||
Series 2022-DNA03, Class M1A, 144A, 30 Day Average SOFR + 2.000% (Cap N/A, Floor 0.000%) | |||||||
6.560%(c) | 04/25/42 | 16 | 15,942 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Government National Mortgage Assoc., | |||||||
Series 2015-124, Class VZ | |||||||
3.500% | 09/20/45 | 2,599 | $2,416,929 | ||||
Series 2018-135, Class Z | |||||||
3.500% | 10/20/48 | 1,167 | 1,045,642 | ||||
Series 2019-69, Class KB | |||||||
3.000% | 06/20/49 | 3,423 | 2,810,800 | ||||
Series 2021-165, Class ST, IO, 1 Month LIBOR x (1) + 3.360% (Cap 0.020%, Floor 0.000%) | |||||||
0.000%(c) | 01/20/50 | 659 | 271 | ||||
Series 2021-177, Class SB, IO, 30 Day Average SOFR x (1) + 3.200% (Cap 3.200%, Floor 0.000%) | |||||||
0.000%(c) | 10/20/51 | 2,943 | 58,350 | ||||
Series 2021-205, Class DS, IO, 30 Day Average SOFR x (1) + 3.200% (Cap 3.200%, Floor 0.000%) | |||||||
0.000%(c) | 11/20/51 | 4,793 | 92,228 | ||||
Series 2022-046, Class S, IO, 30 Day Average SOFR x (1) + 3.500% (Cap 3.500%, Floor 0.000%) | |||||||
0.000%(c) | 03/20/52 | 1,220 | 23,265 | ||||
Series 2022-051, Class SC, IO, 30 Day Average SOFR x (1) + 3.500% (Cap 3.500%, Floor 0.000%) | |||||||
0.000%(c) | 03/20/52 | 5,284 | 93,086 | ||||
Series 2022-066, Class SB, IO, 30 Day Average SOFR x (1) + 3.850% (Cap 3.850%, Floor 0.000%) | |||||||
0.000%(c) | 04/20/52 | 1,792 | 39,318 | ||||
Series 2022-068, Class SP, IO, 30 Day Average SOFR x (1) + 3.850% (Cap 3.850%, Floor 0.000%) | |||||||
0.000%(c) | 04/20/52 | 1,403 | 28,548 | ||||
Series 2022-078, Class MS, IO, 30 Day Average SOFR x (1) + 3.600% (Cap 3.600%, Floor 0.000%) | |||||||
0.000%(c) | 04/20/52 | 4,636 | 77,620 | ||||
Series 2022-078, Class SB, IO, 30 Day Average SOFR x (1) + 3.750% (Cap 3.750%, Floor 0.000%) | |||||||
0.000%(c) | 04/20/52 | 3,082 | 63,236 | ||||
Series 2022-093, Class GS, IO, 30 Day Average SOFR x (1) + 3.650% (Cap 3.650%, Floor 0.000%) | |||||||
0.000%(c) | 05/20/52 | 1,046 | 16,789 | ||||
Series 2022-126, Class CS, IO, 30 Day Average SOFR x (1) + 3.760% (Cap 3.760%, Floor 0.000%) | |||||||
0.000%(c) | 07/20/52 | 6,282 | 75,023 | ||||
Series 2022-133, Class SA, IO, 30 Day Average SOFR x (1) + 3.950% (Cap 3.950%, Floor 0.000%) | |||||||
0.000%(c) | 07/20/52 | 2,305 | 40,292 | ||||
Series 2022-148, Class DS, IO, 30 Day Average SOFR x (1) + 3.600% (Cap 3.600%, Floor 0.000%) | |||||||
0.000%(c) | 08/20/52 | 2,316 | 48,335 | ||||
Home Re Ltd., | |||||||
Series 2019-01, Class M1, 144A, 1 Month LIBOR + 1.650% (Cap N/A, Floor 0.000%) | |||||||
6.495%(c) | 05/25/29 | 168 | 168,223 | ||||
Series 2021-02, Class M1A, 144A, 30 Day Average SOFR + 1.250% (Cap N/A, Floor 0.000%) | |||||||
5.810%(c) | 01/25/34 | 142 | 141,539 | ||||
JPMorgan Mortgage Trust, | |||||||
Series 2007-A01, Class 4A1 | |||||||
3.938%(cc) | 07/25/35 | 26 | 24,439 |
A26
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Series 2020-INV02, Class A3, 144A | |||||||
3.000%(cc) | 10/25/50 | 7 | $5,989 | ||||
Legacy Mortgage Asset Trust, | |||||||
Series 2021-GS01, Class A1, 144A | |||||||
1.892% | 10/25/66 | 336 | 310,761 | ||||
MFA Trust, | |||||||
Series 2021-RPL01, Class A1, 144A | |||||||
1.131%(cc) | 07/25/60 | 2,502 | 2,188,252 | ||||
Mill City Mortgage Loan Trust, | |||||||
Series 2017-03, Class A1, 144A | |||||||
2.750%(cc) | 01/25/61 | 379 | 366,202 | ||||
New Residential Mortgage Loan Trust, | |||||||
Series 2018-04A, Class A1S, 144A, 1 Month LIBOR + 0.750% (Cap N/A, Floor 0.750%) | |||||||
5.595%(c) | 01/25/48 | 247 | 238,704 | ||||
Oaktown Re II Ltd., | |||||||
Series 2018-01A, Class M1, 144A, 1 Month LIBOR + 1.550% (Cap N/A, Floor 0.000%) | |||||||
6.395%(c) | 07/25/28 | 117 | 117,148 | ||||
Oaktown Re VII Ltd., | |||||||
Series 2021-02, Class M1A, 144A, 30 Day Average SOFR + 1.600% (Cap N/A, Floor 1.600%) | |||||||
6.160%(c) | 04/25/34 | 1,300 | 1,276,070 | ||||
PMT Credit Risk Transfer Trust, | |||||||
Series 2021-01R, Class A, 144A, 1 Month LIBOR + 2.900% (Cap N/A, Floor 2.900%) | |||||||
7.752%(c) | 02/27/24 | 2,483 | 2,403,367 | ||||
Series 2023-1R, Class A, 144A, 30 Day Average SOFR + 4.400% (Cap N/A, Floor 0.000%) | |||||||
9.131%(c) | 03/27/25 | 2,900 | 2,900,000 | ||||
Seasoned Credit Risk Transfer Trust, | |||||||
Series 2019-02, Class MA | |||||||
3.500% | 08/25/58 | 643 | 613,188 | ||||
Shamrock Residential (Ireland), | |||||||
Series 2023-01A, Class A, 144A, 1 Month EURIBOR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
3.902%(c) | 06/24/71 | EUR | 426 | 450,749 | |||
Structured Adjustable Rate Mortgage Loan Trust, | |||||||
Series 2004-01, Class 4A3 | |||||||
5.193%(cc) | 02/25/34 | 51 | 46,698 | ||||
Towd Point Mortgage Trust, | |||||||
Series 2017-05, Class A1, 144A, 1 Month LIBOR + 0.600% (Cap N/A, Floor 0.000%) | |||||||
4.208%(c) | 02/25/57 | 579 | 576,664 | ||||
Series 2020-04, Class A1, 144A | |||||||
1.750% | 10/25/60 | 752 | 670,016 | ||||
Total Residential Mortgage-Backed Securities (cost $68,721,955) | 65,036,149 | ||||||
Sovereign Bonds — 0.3% | |||||||
Abu Dhabi Government International Bond (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.125% | 10/11/27 | 3,350 | 3,223,328 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Sovereign Bonds (continued) | |||||||
Bermuda Government International Bond (Bermuda), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.375% | 08/20/30 | 710 | $602,302 | ||||
Colombia Government International Bond (Colombia), | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 02/26/24 | 175 | 172,572 | ||||
Export-Import Bank of India (India), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.875% | 02/01/28 | 1,040 | 981,695 | ||||
Finnvera OYJ (Finland), | |||||||
Gov’t. Gtd. Notes, 144A, MTN | |||||||
2.375% | 06/04/25 | 400 | 383,845 | ||||
Indonesia Government International Bond (Indonesia), | |||||||
Sr. Unsec’d. Notes | |||||||
1.450% | 09/18/26 | EUR | 2,100 | 2,083,582 | |||
3.375% | 07/30/25 | EUR | 1,500 | 1,607,737 | |||
Japan Finance Organization for Municipalities (Japan), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.125% | 10/25/23 | 1,400 | 1,376,705 | ||||
3.000% | 03/12/24 | 400 | 394,295 | ||||
Panama Government International Bond (Panama), | |||||||
Sr. Unsec’d. Notes | |||||||
4.500% | 04/16/50 | 475 | 360,644 | ||||
Peruvian Government International Bond (Peru), | |||||||
Sr. Unsec’d. Notes | |||||||
2.783% | 01/23/31 | 453 | 386,409 | ||||
Province of Alberta (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
3.300% | 03/15/28 | 20 | 19,417 | ||||
Province of Manitoba (Canada), | |||||||
Sr. Unsec’d. Notes, Series GX | |||||||
2.600% | 04/16/24 | 22 | 21,556 | ||||
Province of New Brunswick (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
3.625% | 02/24/28 | 20 | 19,614 | ||||
Province of Quebec (Canada), | |||||||
Sr. Unsec’d. Notes, Series QO | |||||||
2.875% | 10/16/24 | 10 | 9,768 | ||||
Qatar Government International Bond (Qatar), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.103% | 04/23/48 | 915 | 928,725 | ||||
Republic of Poland Government International Bond (Poland), | |||||||
Sr. Unsec’d. Notes | |||||||
3.250% | 04/06/26 | 5 | 4,851 | ||||
Tokyo Metropolitan Government (Japan), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.250% | 06/01/23 | 800 | 796,904 | ||||
Uruguay Government International Bond (Uruguay), | |||||||
Sr. Unsec’d. Notes | |||||||
5.100% | 06/18/50 | 545 | 546,635 | ||||
Total Sovereign Bonds (cost $14,553,087) | 13,920,584 | ||||||
U.S. Government Agency Obligations — 10.2% | |||||||
Federal Home Loan Bank | |||||||
5.500% | 07/15/36(k) | 1,080 | 1,244,080 |
A27
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
Federal Home Loan Mortgage Corp. | |||||||
1.500% | 11/01/50 | 4,146 | $3,265,095 | ||||
2.000% | 01/01/32 | 392 | 362,364 | ||||
2.000% | 02/01/36 | 1,367 | 1,236,996 | ||||
2.000% | 06/01/40 | 1,095 | 946,458 | ||||
2.000% | 10/01/40 | 1,618 | 1,387,502 | ||||
2.000% | 09/01/50 | 3,225 | 2,675,898 | ||||
2.000% | 10/01/50 | 2,650 | 2,198,320 | ||||
2.000% | 03/01/51 | 1,702 | 1,411,463 | ||||
2.000% | 04/01/51 | 106 | 87,776 | ||||
2.000% | 07/01/51 | 5,894 | 4,883,677 | ||||
2.000% | 09/01/51 | 476 | 395,055 | ||||
2.000% | 11/01/51 | 2,010 | 1,664,851 | ||||
2.500% | 03/01/30 | 188 | 178,893 | ||||
2.500% | 10/01/32 | 427 | 400,295 | ||||
2.500% | 03/01/51 | 1,042 | 911,988 | ||||
2.500% | 04/01/51 | 8,091 | 6,987,076 | ||||
2.500% | 05/01/51 | 4,531 | 3,907,861 | ||||
2.500% | 08/01/51 | 479 | 413,604 | ||||
2.500% | 09/01/51 | 2,779 | 2,398,153 | ||||
2.500% | 10/01/51 | 3,851 | 3,352,330 | ||||
2.500% | 12/01/51 | 3,333 | 2,875,111 | ||||
2.500% | 01/01/52 | 7,056 | 6,086,508 | ||||
3.000% | 10/01/28 | 128 | 124,223 | ||||
3.000% | 06/01/29 | 347 | 333,518 | ||||
3.000% | 03/01/32 | 428 | 410,160 | ||||
3.000% | 01/01/37 | 191 | 179,596 | ||||
3.000% | 01/01/43 | 417 | 385,315 | ||||
3.000% | 07/01/43 | 843 | 778,069 | ||||
3.000% | 01/01/47 | 2,099 | 1,923,340 | ||||
3.000% | 02/01/50 | 1,764 | 1,597,299 | ||||
3.000% | 06/01/51 | 631 | 567,165 | ||||
3.000% | 07/01/51 | 993 | 899,533 | ||||
3.000% | 11/01/51 | 971 | 872,905 | ||||
3.000% | 12/01/51 | 138 | 123,739 | ||||
3.000% | 12/01/51 | 991 | 890,607 | ||||
3.000% | 01/01/52 | 994 | 893,227 | ||||
3.000% | 02/01/52 | 497 | 448,183 | ||||
3.000% | 03/01/52 | 986 | 885,093 | ||||
3.000% | 03/01/52 | 2,473 | 2,221,225 | ||||
3.000% | 04/01/52 | 988 | 887,635 | ||||
3.000% | 04/01/52 | 2,493 | 2,238,378 | ||||
3.000% | 05/01/52 | 458 | 410,999 | ||||
3.000% | 05/01/52 | 995 | 893,352 | ||||
3.000% | 05/01/52 | 6,690 | 6,007,444 | ||||
3.000% | 06/01/52 | 3,744 | 3,362,315 | ||||
3.500% | 03/01/42 | 196 | 187,288 | ||||
3.500% | 06/01/42 | 140 | 133,501 | ||||
3.500% | 01/01/47 | 349 | 330,225 | ||||
3.500% | 02/01/47 | 512 | 484,169 | ||||
3.500% | 04/01/52 | 2,949 | 2,746,535 | ||||
3.500% | 05/01/52 | 1,465 | 1,361,794 | ||||
3.500% | 06/01/52 | 62 | 58,046 | ||||
3.500% | 06/01/52 | 2,961 | 2,751,759 | ||||
3.500% | 06/01/52 | 5,427 | 5,044,056 | ||||
3.500% | 07/01/52 | 63 | 58,441 | ||||
4.000% | 06/01/26 | 125 | 124,445 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
4.000% | 09/01/26 | 64 | $63,302 | ||||
4.000% | 11/01/37 | 3,513 | 3,458,802 | ||||
4.000% | 10/01/39 | 351 | 343,978 | ||||
4.000% | 12/01/40 | 153 | 149,712 | ||||
4.000% | 10/01/41 | 125 | 122,521 | ||||
4.000% | 01/01/42 | 49 | 47,919 | ||||
4.000% | 10/01/45 | 163 | 159,053 | ||||
4.000% | 04/01/52 | 1,410 | 1,362,815 | ||||
4.500% | 09/01/39 | 108 | 108,837 | ||||
4.500% | 10/01/39 | 603 | 607,120 | ||||
4.500% | 12/01/39 | 194 | 195,223 | ||||
4.500% | 07/01/41 | 63 | 63,102 | ||||
4.500% | 07/01/41 | 1,111 | 1,118,846 | ||||
4.500% | 08/01/41 | 106 | 105,883 | ||||
4.500% | 08/01/41 | 109 | 108,064 | ||||
4.500% | 08/01/41 | 176 | 175,869 | ||||
4.500% | 10/01/41 | 96 | 95,854 | ||||
4.500% | 10/01/46 | 93 | 92,588 | ||||
4.500% | 12/01/47 | 419 | 418,022 | ||||
4.500% | 07/01/52 | 4,478 | 4,386,953 | ||||
4.500% | 09/01/52 | 239 | 234,593 | ||||
5.000% | 05/01/34 | 10 | 10,411 | ||||
5.000% | 05/01/34 | 108 | 109,983 | ||||
5.000% | 08/01/35 | 11 | 10,853 | ||||
5.000% | 09/01/35 | 24 | 24,845 | ||||
5.000% | 10/01/36 | 17 | 17,337 | ||||
5.000% | 05/01/37 | 10 | 10,327 | ||||
5.000% | 07/01/37 | 179 | 182,822 | ||||
5.000% | 09/01/38 | 24 | 24,790 | ||||
5.000% | 09/01/38 | 26 | 26,145 | ||||
5.000% | 09/01/38 | 29 | 29,812 | ||||
5.000% | 02/01/39 | 10 | 10,062 | ||||
5.000% | 06/01/39 | 29 | 29,877 | ||||
5.000% | 10/01/52 | 482 | 480,852 | ||||
5.000% | 11/01/52 | 1,486 | 1,482,422 | ||||
5.500% | 02/01/34 | 26 | 26,801 | ||||
5.500% | 04/01/34 | 257 | 260,881 | ||||
5.500% | 06/01/34 | 44 | 44,915 | ||||
5.500% | 06/01/34 | 76 | 78,235 | ||||
5.500% | 05/01/37 | 23 | 24,201 | ||||
5.500% | 02/01/38 | 180 | 187,366 | ||||
5.500% | 05/01/38 | 33 | 34,712 | ||||
5.500% | 07/01/38 | 162 | 168,173 | ||||
6.000% | 03/01/32 | 112 | 115,058 | ||||
6.000% | 12/01/33 | 21 | 21,633 | ||||
6.000% | 07/01/36 | 2 | 2,406 | ||||
6.000% | 12/01/36 | 4 | 4,168 | ||||
6.000% | 05/01/37 | 6 | 6,440 | ||||
6.000% | 12/01/37 | 9 | 9,606 | ||||
6.000% | 01/01/38 | 3 | 2,679 | ||||
6.000% | 01/01/38 | 5 | 5,389 | ||||
6.000% | 01/01/38 | 111 | 115,541 | ||||
6.000% | 10/01/38 | 49 | 50,824 | ||||
6.000% | 08/01/39 | 19 | 20,235 | ||||
6.000% | 12/01/52 | 485 | 495,366 | ||||
6.750% | 03/15/31 | 500 | 599,167 | ||||
7.000% | 01/01/31 | 8 | 8,298 |
A28
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
7.000% | 06/01/31 | 7 | $6,775 | ||||
7.000% | 09/01/31 | 2 | 1,837 | ||||
7.000% | 10/01/31 | 21 | 22,105 | ||||
7.000% | 10/01/32 | 25 | 24,972 | ||||
Federal Home Loan Mortgage Corp., 30 Day Average SOFR + 2.341% (Cap 10.167%, Floor 2.341%) | |||||||
5.167%(c) | 02/01/53 | 3,096 | 3,104,438 | ||||
Federal National Mortgage Assoc. | |||||||
1.500% | 01/01/36 | 2,947 | 2,591,986 | ||||
1.500% | 02/01/42 | 474 | 388,502 | ||||
1.500% | 10/01/50 | 393 | 309,694 | ||||
1.500% | 11/01/50 | 4,215 | 3,319,410 | ||||
1.500% | 12/01/50 | 4,704 | 3,698,929 | ||||
2.000% | 08/01/31 | 588 | 541,836 | ||||
2.000% | 02/01/41 | 2,220 | 1,896,964 | ||||
2.000% | 05/01/41(k) | 4,962 | 4,289,992 | ||||
2.000% | 08/01/50 | 1,144 | 949,175 | ||||
2.000% | 10/01/50 | 11,992 | 9,958,604 | ||||
2.000% | 12/01/50 | 41 | 34,338 | ||||
2.000% | 01/01/51 | 1,953 | 1,620,074 | ||||
2.000% | 02/01/51(k) | 12,144 | 10,071,031 | ||||
2.000% | 03/01/51 | 3,811 | 3,159,531 | ||||
2.000% | 04/01/51 | 695 | 575,973 | ||||
2.000% | 05/01/51 | 14,802 | 12,269,629 | ||||
2.000% | 08/01/51 | 2,197 | 1,820,070 | ||||
2.000% | 10/01/51 | 4,261 | 3,524,423 | ||||
2.500% | 10/01/43 | 492 | 431,973 | ||||
2.500% | 12/01/46 | 904 | 793,262 | ||||
2.500% | 03/01/50 | 677 | 587,483 | ||||
2.500% | 08/01/50 | 3,016 | 2,606,350 | ||||
2.500% | 12/01/50 | 297 | 259,464 | ||||
2.500% | 02/01/51 | 2,366 | 2,039,949 | ||||
2.500% | 02/01/51 | 2,881 | 2,483,478 | ||||
2.500% | 04/01/51 | 3,573 | 3,080,405 | ||||
2.500% | 08/01/51 | 944 | 814,738 | ||||
2.500% | 08/01/51 | 962 | 830,760 | ||||
2.500% | 09/01/51 | 2,992 | 2,581,510 | ||||
2.500% | 10/01/51 | 1,038 | 895,335 | ||||
2.500% | 11/01/51 | 4,818 | 4,156,817 | ||||
2.500% | 12/01/51 | 9,012 | 7,822,475 | ||||
2.500% | 02/01/52 | 476 | 412,519 | ||||
2.500% | 03/01/52 | 986 | 850,462 | ||||
2.500% | 04/01/52 | 3,965 | 3,419,501 | ||||
2.500% | 05/01/52 | 945 | 819,749 | ||||
3.000% | 02/01/27 | 455 | 442,649 | ||||
3.000% | 08/01/30 | 409 | 390,136 | ||||
3.000% | 05/01/35 | 3,182 | 3,022,267 | ||||
3.000% | 07/01/36 | 1,977 | 1,877,252 | ||||
3.000% | 11/01/36 | 831 | 779,040 | ||||
3.000% | 12/01/42 | 465 | 429,137 | ||||
3.000% | 12/01/42 | 687 | 634,089 | ||||
3.000% | 03/01/43 | 115 | 105,763 | ||||
3.000% | 11/01/46 | 114 | 104,416 | ||||
3.000% | 01/01/47 | 913 | 837,167 | ||||
3.000% | 02/01/47 | 649 | 593,294 | ||||
3.000% | 03/01/47 | 509 | 465,339 | ||||
3.000% | 11/01/49 | 502 | 454,560 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
3.000% | 12/01/49 | 295 | $267,543 | ||||
3.000% | 12/01/49 | 430 | 389,478 | ||||
3.000% | 01/01/50 | 477 | 431,209 | ||||
3.000% | 02/01/50 | 446 | 404,110 | ||||
3.000% | 02/01/50 | 486 | 440,061 | ||||
3.000% | 02/01/50 | 5,339 | 4,833,076 | ||||
3.000% | 03/01/50 | 373 | 337,171 | ||||
3.000% | 05/01/51 | 827 | 744,493 | ||||
3.000% | 02/01/52 | 3,316 | 2,975,109 | ||||
3.000% | 03/01/52 | 67 | 59,761 | ||||
3.000% | 03/01/52 | 496 | 444,886 | ||||
3.000% | 03/01/52 | 1,883 | 1,696,941 | ||||
3.000% | 04/01/52 | 961 | 864,484 | ||||
3.000% | 04/01/52 | 986 | 885,426 | ||||
3.000% | 04/01/52 | 1,939 | 1,754,446 | ||||
3.000% | 05/01/52 | 994 | 893,885 | ||||
3.000% | 06/01/52 | 986 | 885,963 | ||||
3.000% | 06/01/52 | 994 | 892,543 | ||||
3.500% | 07/01/31 | 322 | 312,612 | ||||
3.500% | 11/01/32 | 192 | 187,227 | ||||
3.500% | 02/01/33 | 400 | 389,861 | ||||
3.500% | 05/01/33 | 541 | 526,589 | ||||
3.500% | 06/01/39 | 316 | 301,981 | ||||
3.500% | 01/01/42 | 2,145 | 2,046,339 | ||||
3.500% | 05/01/42 | 1,047 | 999,067 | ||||
3.500% | 07/01/42 | 398 | 380,086 | ||||
3.500% | 08/01/42 | 151 | 144,268 | ||||
3.500% | 08/01/42 | 387 | 369,037 | ||||
3.500% | 09/01/42 | 441 | 420,041 | ||||
3.500% | 09/01/42 | 767 | 731,949 | ||||
3.500% | 11/01/42 | 215 | 204,710 | ||||
3.500% | 03/01/43 | 1,547 | 1,475,865 | ||||
3.500% | 04/01/43 | 239 | 228,375 | ||||
3.500% | 04/01/43 | 578 | 550,905 | ||||
3.500% | 07/01/43 | 110 | 104,590 | ||||
3.500% | 06/01/45 | 2,004 | 1,892,532 | ||||
3.500% | 07/01/46 | 273 | 257,401 | ||||
3.500% | 11/01/46 | 508 | 479,767 | ||||
3.500% | 09/01/47 | 487 | 459,225 | ||||
3.500% | 01/01/48 | 4,898 | 4,619,724 | ||||
3.500% | 05/01/48 | 452 | 425,166 | ||||
3.500% | 06/01/48 | 2,280 | 2,151,703 | ||||
3.500% | 02/01/52 | 5,735 | 5,334,841 | ||||
3.500% | 03/01/52 | 977 | 915,114 | ||||
3.500% | 04/01/52 | 25 | 23,285 | ||||
3.500% | 05/01/52 | 6,491 | 6,033,111 | ||||
3.500% | 06/01/52 | 25 | 23,495 | ||||
3.500% | 06/01/52 | 4,448 | 4,133,068 | ||||
3.500% | 07/01/52 | 496 | 460,692 | ||||
3.500% | 07/01/52 | 9,818 | 9,123,359 | ||||
3.500% | 08/01/52 | 62 | 57,180 | ||||
3.500% | 10/01/52 | 142 | 132,001 | ||||
4.000% | TBA | 2,500 | 2,392,197 | ||||
4.000% | 12/01/36 | 390 | 380,831 | ||||
4.000% | 10/01/41 | 1,232 | 1,205,618 | ||||
4.000% | 07/01/44 | 460 | 448,536 | ||||
4.000% | 09/01/44 | 764 | 745,361 |
A29
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
4.000% | 10/01/46 | 395 | $382,472 | ||||
4.000% | 06/01/47 | 332 | 323,570 | ||||
4.000% | 09/01/47 | 124 | 120,200 | ||||
4.000% | 11/01/47 | 403 | 394,530 | ||||
4.000% | 11/01/47 | 525 | 512,375 | ||||
4.000% | 12/01/47 | 1,685 | 1,641,394 | ||||
4.000% | 03/01/49 | 3,461 | 3,361,700 | ||||
4.000% | 05/01/52 | 970 | 928,007 | ||||
4.000% | 06/01/52 | 955 | 912,959 | ||||
4.000% | 07/01/52 | 7,004 | 6,701,103 | ||||
4.000% | 12/01/52 | 8,023 | 7,673,443 | ||||
4.500% | TBA | 19,500 | 19,106,018 | ||||
4.500% | 07/01/33 | 20 | 20,284 | ||||
4.500% | 08/01/33 | 7 | 6,791 | ||||
4.500% | 09/01/33 | 21 | 21,269 | ||||
4.500% | 10/01/33 | 53 | 52,916 | ||||
4.500% | 03/01/34 | 15 | 15,170 | ||||
4.500% | 01/01/35 | 1 | 1,026 | ||||
4.500% | 07/01/39 | 388 | 389,174 | ||||
4.500% | 08/01/39 | 269 | 269,936 | ||||
4.500% | 09/01/39 | 160 | 160,889 | ||||
4.500% | 12/01/39 | 2 | 2,205 | ||||
4.500% | 03/01/41 | 610 | 613,857 | ||||
4.500% | 07/01/42 | 60 | 60,360 | ||||
4.500% | 06/01/50 | 768 | 757,636 | ||||
4.500% | 07/01/52 | 3,991 | 3,910,846 | ||||
4.500% | 09/01/52 | 264 | 258,186 | ||||
4.500% | 12/01/52 | 4,500 | 4,408,331 | ||||
5.000% | TBA | 5,000 | 4,986,133 | ||||
5.000% | 03/01/34 | 107 | 109,404 | ||||
5.000% | 04/01/35 | 254 | 259,496 | ||||
5.000% | 06/01/35 | 61 | 61,855 | ||||
5.000% | 07/01/35 | 62 | 63,013 | ||||
5.000% | 07/01/35 | 65 | 65,950 | ||||
5.000% | 09/01/35 | 47 | 48,206 | ||||
5.000% | 11/01/35 | 60 | 61,315 | ||||
5.000% | 02/01/36 | 34 | 34,413 | ||||
5.000% | 06/01/49 | 495 | 500,474 | ||||
5.000% | 08/01/52 | 477 | 475,486 | ||||
5.000% | 09/01/52 | 488 | 486,204 | ||||
5.000% | 12/01/52 | 1,032 | 1,029,639 | ||||
5.500% | 02/01/33 | 47 | 48,870 | ||||
5.500% | 08/01/33 | 119 | 121,199 | ||||
5.500% | 10/01/33 | 29 | 29,938 | ||||
5.500% | 12/01/33 | 24 | 25,206 | ||||
5.500% | 12/01/34 | 73 | 75,518 | ||||
5.500% | 10/01/35 | 172 | 174,550 | ||||
5.500% | 03/01/36 | 43 | 43,664 | ||||
5.500% | 04/01/36 | 45 | 45,321 | ||||
5.500% | 01/01/37 | 34 | 34,954 | ||||
5.500% | 04/01/37 | 16 | 16,771 | ||||
5.500% | 05/01/37 | 101 | 105,372 | ||||
5.500% | 08/01/37 | 126 | 129,567 | ||||
6.000% | 10/01/33 | 131 | 134,106 | ||||
6.000% | 11/01/33 | 12 | 12,376 | ||||
6.000% | 11/01/33 | 12 | 12,649 | ||||
6.000% | 01/01/34 | 155 | 159,991 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
6.000% | 02/01/34 | 51 | $53,119 | ||||
6.000% | 03/01/34 | 1 | 1,072 | ||||
6.000% | 03/01/34 | 11 | 11,372 | ||||
6.000% | 11/01/34 | 14 | 14,265 | ||||
6.000% | 01/01/35 | 26 | 26,448 | ||||
6.000% | 01/01/35 | 62 | 62,984 | ||||
6.000% | 02/01/35 | 2 | 1,824 | ||||
6.000% | 02/01/35 | 92 | 93,893 | ||||
6.000% | 02/01/35 | 97 | 100,462 | ||||
6.000% | 04/01/35 | 9 | 8,983 | ||||
6.000% | 05/01/36 | 13 | 13,402 | ||||
6.000% | 06/01/36 | 12 | 12,298 | ||||
6.000% | 02/01/37 | 35 | 36,599 | ||||
6.000% | 06/01/37 | 11 | 11,100 | ||||
6.000% | 05/01/38 | 87 | 90,465 | ||||
6.500% | 09/01/32 | 1 | 855 | ||||
6.500% | 09/01/32 | 11 | 11,320 | ||||
6.500% | 09/01/32 | 20 | 21,073 | ||||
6.500% | 09/01/32 | 22 | 22,438 | ||||
6.500% | 10/01/32 | 26 | 27,265 | ||||
6.500% | 04/01/33 | 26 | 27,284 | ||||
6.500% | 11/01/33 | 18 | 18,523 | ||||
6.500% | 01/01/34 | 19 | 19,092 | ||||
6.500% | 09/01/34 | 33 | 34,262 | ||||
6.500% | 09/01/36 | 87 | 92,783 | ||||
6.500% | 10/01/36 | 15 | 16,078 | ||||
6.500% | 01/01/37 | 35 | 35,914 | ||||
6.500% | 01/01/37 | 51 | 52,975 | ||||
6.500% | 09/01/37 | 9 | 9,543 | ||||
6.625% | 11/15/30(k) | 945 | 1,119,877 | ||||
7.000% | 02/01/32 | 7 | 6,596 | ||||
7.000% | 05/01/32 | 8 | 8,682 | ||||
7.000% | 06/01/32 | 6 | 6,548 | ||||
7.000% | 07/01/32 | 28 | 29,258 | ||||
7.125% | 01/15/30(k)(kk) | 3,600 | 4,311,593 | ||||
Government National Mortgage Assoc. | |||||||
2.000% | 03/20/51 | 1,534 | 1,309,636 | ||||
2.000% | 07/20/51 | 467 | 398,245 | ||||
2.000% | 10/20/51 | 957 | 814,534 | ||||
2.500% | 03/20/43 | 351 | 314,257 | ||||
2.500% | 12/20/46 | 322 | 287,201 | ||||
2.500% | 05/20/51 | 13,825 | 12,201,134 | ||||
2.500% | 08/20/51 | 1,030 | 906,974 | ||||
2.500% | 11/20/51 | 448 | 394,188 | ||||
2.500% | 12/20/51 | 4,977 | 4,380,069 | ||||
2.500% | 04/20/52 | 2,982 | 2,623,719 | ||||
3.000% | 03/15/45 | 300 | 276,602 | ||||
3.000% | 11/20/45 | 401 | 373,160 | ||||
3.000% | 03/20/46 | 2,370 | 2,200,488 | ||||
3.000% | 07/20/46 | 1,541 | 1,429,072 | ||||
3.000% | 10/20/46 | 514 | 475,992 | ||||
3.000% | 02/20/47 | 779 | 719,841 | ||||
3.000% | 12/20/49 | 154 | 141,427 | ||||
3.000% | 01/20/50 | 1,359 | 1,249,662 | ||||
3.000% | 06/20/51 | 362 | 331,354 | ||||
3.000% | 10/20/51 | 4,835 | 4,418,076 | ||||
3.000% | 11/20/51 | 912 | 833,486 |
A30
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
3.000% | 12/20/51 | 1,619 | $1,477,158 | ||||
3.000% | 04/20/52 | 956 | 871,279 | ||||
3.000% | 05/20/52 | 4,000 | 3,642,976 | ||||
3.000% | 06/20/52 | 2,959 | 2,694,788 | ||||
3.500% | 12/20/42 | 794 | 759,086 | ||||
3.500% | 05/20/43 | 161 | 154,103 | ||||
3.500% | 03/20/45 | 494 | 469,945 | ||||
3.500% | 04/20/45 | 661 | 630,263 | ||||
3.500% | 07/20/46 | 2,281 | 2,169,493 | ||||
3.500% | 06/20/49 | 2,950 | 2,792,301 | ||||
4.000% | 06/15/40 | 62 | 59,661 | ||||
4.000% | 05/20/41 | 121 | 119,560 | ||||
4.000% | 12/20/42 | 300 | 296,600 | ||||
4.000% | 08/20/44 | 108 | 107,037 | ||||
4.000% | 11/20/45 | 517 | 506,980 | ||||
4.000% | 12/20/45 | 566 | 554,477 | ||||
4.000% | 11/20/46 | 120 | 117,522 | ||||
4.000% | 09/20/47 | 1,569 | 1,535,906 | ||||
4.000% | 02/20/49 | 891 | 867,202 | ||||
4.000% | 01/20/50 | 883 | 857,918 | ||||
4.500% | TBA | 22,500 | 22,161,421 | ||||
4.500% | 04/15/40 | 218 | 220,305 | ||||
4.500% | 01/20/41 | 557 | 564,170 | ||||
4.500% | 02/20/41 | 331 | 335,175 | ||||
4.500% | 06/20/44 | 355 | 358,393 | ||||
4.500% | 09/20/46 | 194 | 192,033 | ||||
4.500% | 11/20/46 | 332 | 335,296 | ||||
4.500% | 03/20/47 | 268 | 269,556 | ||||
4.500% | 05/20/48 | 271 | 270,656 | ||||
4.500% | 06/20/48 | 351 | 349,973 | ||||
4.500% | 08/20/48 | 1,177 | 1,173,982 | ||||
5.000% | TBA | 3,000 | 3,003,750 | ||||
5.000% | 10/20/37 | 76 | 78,360 | ||||
5.000% | 04/20/45 | 354 | 363,629 | ||||
5.500% | 11/15/32 | 28 | 28,992 | ||||
5.500% | 02/15/33 | 24 | 24,407 | ||||
5.500% | 08/15/33 | 45 | 46,008 | ||||
5.500% | 08/15/33 | 62 | 63,027 | ||||
5.500% | 09/15/33 | 33 | 33,572 | ||||
5.500% | 09/15/33 | 54 | 55,668 | ||||
5.500% | 10/15/33 | 40 | 40,613 | ||||
5.500% | 12/15/33 | 4 | 3,861 | ||||
5.500% | 04/15/34 | 141 | 145,726 | ||||
5.500% | 07/15/35 | 30 | 31,257 | ||||
5.500% | 02/15/36 | 82 | 84,383 | ||||
6.000% | 02/15/33 | 1 | 1,522 | ||||
6.000% | 04/15/33 | 12 | 11,941 | ||||
6.000% | 09/15/33 | 9 | 8,984 | ||||
6.000% | 12/15/33 | 20 | 21,131 | ||||
6.000% | 12/15/33 | 63 | 64,033 | ||||
6.000% | 01/15/34 | 10 | 10,990 | ||||
6.000% | 01/15/34 | 16 | 16,098 | ||||
6.000% | 06/20/34 | 37 | 38,947 | ||||
6.000% | 07/15/34 | 81 | 85,370 | ||||
6.000% | 10/15/34 | 105 | 107,523 | ||||
6.500% | 10/15/23 | —(r) | 51 | ||||
6.500% | 12/15/23 | —(r) | 176 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
6.500% | 01/15/24 | —(r) | $174 | ||||
6.500% | 01/15/24 | —(r) | 457 | ||||
6.500% | 01/15/24 | 1 | 1,006 | ||||
6.500% | 01/15/24 | 1 | 1,441 | ||||
6.500% | 01/15/24 | 5 | 4,848 | ||||
6.500% | 02/15/24 | —(r) | 32 | ||||
6.500% | 02/15/24 | —(r) | 52 | ||||
6.500% | 02/15/24 | —(r) | 180 | ||||
6.500% | 02/15/24 | —(r) | 198 | ||||
6.500% | 02/15/24 | —(r) | 207 | ||||
6.500% | 02/15/24 | 1 | 735 | ||||
6.500% | 02/15/24 | 1 | 807 | ||||
6.500% | 02/15/24 | 1 | 876 | ||||
6.500% | 02/15/24 | 6 | 6,316 | ||||
6.500% | 04/15/24 | —(r) | 27 | ||||
6.500% | 04/15/24 | —(r) | 182 | ||||
6.500% | 04/15/24 | —(r) | 430 | ||||
6.500% | 04/15/24 | 2 | 1,571 | ||||
6.500% | 05/15/24 | 1 | 1,050 | ||||
6.500% | 05/15/24 | 1 | 1,298 | ||||
6.500% | 10/15/24 | 1 | 1,480 | ||||
6.500% | 12/15/30 | 4 | 4,209 | ||||
6.500% | 01/15/32 | 13 | 13,249 | ||||
6.500% | 02/15/32 | 8 | 7,893 | ||||
6.500% | 07/15/32 | 19 | 19,330 | ||||
6.500% | 08/15/32 | 3 | 3,319 | ||||
6.500% | 08/15/32 | 6 | 6,802 | ||||
6.500% | 08/15/32 | 22 | 22,711 | ||||
6.500% | 08/15/32 | 105 | 109,112 | ||||
6.500% | 06/15/35 | 17 | 17,467 | ||||
6.500% | 07/15/35 | 6 | 6,010 | ||||
8.000% | 01/15/24 | 1 | 718 | ||||
8.000% | 04/15/25 | 1 | 507 | ||||
Tennessee Valley Authority, Sr. Unsec’d. Notes | |||||||
1.500% | 09/15/31 | 625 | 509,442 | ||||
Total U.S. Government Agency Obligations (cost $463,668,039) | 444,383,561 | ||||||
U.S. Treasury Obligations — 1.7% | |||||||
U.S. Treasury Bonds | |||||||
1.750% | 08/15/41 | 10,535 | 7,626,352 | ||||
2.000% | 11/15/41(h) | 21,340 | 16,098,362 | ||||
2.250% | 05/15/41 | 5,895 | 4,681,920 | ||||
2.375% | 02/15/42(a) | 11,610 | 9,333,352 | ||||
2.375% | 11/15/49 | 12,360 | 9,550,031 | ||||
2.750% | 11/15/42 | 10 | 8,475 | ||||
2.875% | 05/15/52 | 4,555 | 3,898,084 | ||||
3.125% | 11/15/41 | 33 | 30,071 | ||||
3.125% | 05/15/48(h) | 610 | 544,520 | ||||
3.250% | 05/15/42 | 5,335 | 4,922,371 | ||||
3.375% | 08/15/42 | 35 | 32,873 | ||||
3.625% | 08/15/43 | 50 | 48,508 | ||||
4.000% | 11/15/52 | 2,305 | 2,447,262 | ||||
U.S. Treasury Notes | |||||||
0.125% | 08/31/23 | 160 | 157,000 | ||||
3.125% | 11/15/28(h) | 4,605 | 4,489,155 |
A31
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Treasury Obligations(continued) | |||||||
U.S. Treasury Strips Coupon | |||||||
2.000%(s) | 08/15/39 | 3,780 | $2,018,313 | ||||
2.228%(s) | 05/15/28 | 718 | 597,090 | ||||
2.365%(s) | 08/15/44 | 3,095 | 1,321,420 | ||||
2.395%(s) | 11/15/43 | 1,156 | 509,679 | ||||
2.955%(s) | 11/15/41 | 10,800 | 5,192,859 | ||||
Total U.S. Treasury Obligations (cost $84,285,213) | 73,507,697 | ||||||
Total Long-Term Investments (cost $3,606,327,219) | 4,153,931,040 |
Shares | |||||
Short-Term Investments — 8.5% | |||||
Affiliated Mutual Funds — 8.5% | |||||
PGIM Core Ultra Short Bond Fund(wa) | 278,302,330 | 278,302,330 | |||
PGIM Institutional Money Market Fund (cost $93,966,922; includes $93,566,623 of cash collateral for securities on loan)(b)(wa) | 94,100,957 | 94,053,906 | |||
Total Affiliated Mutual Funds (cost $372,269,252) | 372,356,236 |
Interest Rate | Maturity Date | Principal Amount (000)# | |||||
U.S. Treasury Obligation(k)(n) — 0.0% | |||||||
U.S. Treasury Bills | |||||||
4.677% | 06/15/23 | 140 | 138,684 | ||||
(cost $138,653) | |||||||
Total Short-Term Investments (cost $372,407,905) | 372,494,920 | ||||||
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN—103.7% (cost $3,978,735,124) | 4,526,425,960 |
Options Written*~ — (0.0)% | |||||
(premiums received $75,469) | (23,271) | ||||
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN—103.7% (cost $3,978,659,655) | 4,526,402,689 | ||||
Liabilities in excess of other assets(z) — (3.7)% | (160,041,467) | ||||
Net Assets — 100.0% | $4,366,361,222 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: | |
CAD | Canadian Dollar |
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. |
A | Annual payment frequency for swaps |
BABs | Build America Bonds |
BARC | Barclays Bank PLC |
BNP | BNP Paribas S.A. |
BOA | Bank of America, N.A. |
CDX | Credit Derivative Index |
CGM | Citigroup Global Markets, Inc. |
CITI | Citibank, N.A. |
CLO | Collateralized Loan Obligation |
CVA | Certificate Van Aandelen (Bearer) |
DAC | Designated Activity Company |
EAFE | Europe, Australasia, Far East |
ETF | Exchange-Traded Fund |
EURIBOR | Euro Interbank Offered Rate |
FHLMC | Federal Home Loan Mortgage Corporation |
FNMA | Federal National Mortgage Association |
GDR | Global Depositary Receipt |
GMTN | Global Medium Term Note |
GSI | Goldman Sachs International |
HSBC | HSBC Bank PLC |
IO | Interest Only (Principal amount represents notional) |
JPM | JPMorgan Chase Bank N.A. |
LIBOR | London Interbank Offered Rate |
LP | Limited Partnership |
M | Monthly payment frequency for swaps |
MSCI | Morgan Stanley Capital International |
MTN | Medium Term Note |
OTC | Over-the-counter |
PJSC | Public Joint-Stock Company |
PRFC | Preference Shares |
Q | Quarterly payment frequency for swaps |
REITs | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
S&P | Standard & Poor’s |
SOFR | Secured Overnight Financing Rate |
SSB | State Street Bank & Trust Company |
T | Swap payment upon termination |
TBA | To Be Announced |
TD | The Toronto-Dominion Bank |
USOIS | United States Overnight Index Swap |
* | Non-income producing security. |
# | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
~ | See tables subsequent to the Schedule of Investments for options detail. Excludes centrally cleared swaptions. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $1,225,112 and 0.0% 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 $92,426,502; cash collateral of $93,566,623 (included in liabilities) was received with which the Portfolio 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 Portfolio 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. |
A32
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2023. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2023. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(h) | Represents security, or a portion thereof, segregated as collateral for OTC derivatives. |
(k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
(kk) | Represents security, or a portion thereof, segregated as collateral for TBA securities. |
(n) | Rate shown reflects yield to maturity at purchased date. |
(oo) | Perpetual security. Maturity date represents next call date. |
(r) | Principal or notional amount is less than $500 par. |
(s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
(wa) | PGIM Investments LLC, the manager of the Portfolio, 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: |
Forward Commitment Contracts: | |||||||||||
U.S. Government Agency Obligations | Interest Rate | Maturity Date | Settlement Date | Principal Amount (000)# | Value | ||||||
Federal National Mortgage Assoc. | 3.000% | TBA | 04/13/23 | $(12,000) | $(10,767,115) | ||||||
Federal National Mortgage Assoc. | 3.500% | TBA | 05/11/23 | (27,000) | (25,104,726) | ||||||
TOTAL FORWARD COMMITMENT CONTRACTS (proceeds receivable $35,693,359) | $(35,871,841) |
Options Written:
OTC Traded | ||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Contracts | Notional Amount (000)# | Value | |||||||||
FNMA TBA 5.50% | Call | BOA | 04/06/23 | $100.75 | — | 6,000 | $(22,827) | |||||||||
FNMA TBA 5.50% | Put | CGM | 04/06/23 | $99.52 | — | 12,000 | (224) | |||||||||
Total OTC Traded (premiums received $75,469) | $(23,051) |
OTC Swaptions | ||||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Receive | Pay | Notional Amount (000)# | Value | ||||||||||
GS_21-PJA^ | Put | GSI | 06/17/24 | 0.25% | 0.25%(M) | GS_21-PJA(M) | 13,500 | $(220) | ||||||||||
(premiums received $0) | ||||||||||||||||||
Total Options Written (premiums received $75,469) | $(23,271) |
Options Purchased:
Centrally Cleared Swaptions | |||||||||||||||||
Description | Call/ Put | Expiration Date | Strike | Receive | Pay | Notional Amount (000)# | Value at March 31, 2023 | Unrealized Appreciation (Depreciation) | |||||||||
CDX.NA.IG.39.V1, 12/20/27 | Put | 04/19/23 | 0.85% | CDX.NA.IG.39.V1(Q) | 1.00%(Q) | 19,380 | $7,886 | $(53,354) | |||||||||
(cost $61,240) |
Options Written:
Centrally Cleared Swaptions | |||||||||||||||||
Description | Call/ Put | Expiration Date | Strike | Receive | Pay | Notional Amount (000)# | Value at March 31, 2023 | Unrealized Appreciation (Depreciation) | |||||||||
CDX.NA.IG.39.V1, 12/20/27 | Call | 04/19/23 | 0.75% | CDX.NA.IG.39.V1(Q) | 1.00%(Q) | 19,380 | $(37,154) | $11,296 | |||||||||
(premiums received $48,450) |
A33
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Options Written (continued):
Futures contracts outstanding at March 31, 2023: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
168 | 2 Year U.S. Treasury Notes | Jun. 2023 | $34,684,125 | $421,849 | ||||
365 | 5 Year U.S. Treasury Notes | Jun. 2023 | 39,970,351 | 477,064 | ||||
711 | 10 Year U.S. Treasury Notes | Jun. 2023 | 81,709,457 | 821,563 | ||||
40 | 10 Year U.S. Ultra Treasury Notes | Jun. 2023 | 4,845,625 | 147,355 | ||||
141 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2023 | 19,898,625 | 432,286 | ||||
10 | Mini MSCI EAFE Index | Jun. 2023 | 1,048,250 | 33,180 | ||||
6 | S&P 500 E-Mini Index | Jun. 2023 | 1,241,325 | 72,664 | ||||
2,405,961 | ||||||||
Short Positions: | ||||||||
11 | 5 Year Euro-Bobl | Jun. 2023 | 1,406,249 | (33,595) | ||||
2 | 10 Year Euro-Bund | Jun. 2023 | 294,637 | (10,381) | ||||
416 | 20 Year U.S. Treasury Bonds | Jun. 2023 | 54,561,000 | (2,288,533) | ||||
(2,332,509) | ||||||||
$73,452 |
Forward foreign currency exchange
contracts outstanding at March 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 04/04/23 | HSBC | EUR | 25,849 | $27,867,948 | $28,039,482 | $171,534 | $— | ||||||
Expiring 04/04/23 | SSB | EUR | 276 | 291,714 | 299,661 | 7,947 | — | ||||||
$28,159,662 | $28,339,143 | 179,481 | — |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Canadian Dollar, | |||||||||||||
Expiring 04/19/23 | TD | CAD | 4,041 | $3,018,730 | $2,990,704 | $28,026 | $— | ||||||
Euro, | |||||||||||||
Expiring 04/04/23 | CITI | EUR | 424 | 452,246 | 459,813 | — | (7,567) | ||||||
Expiring 04/04/23 | TD | EUR | 25,701 | 27,417,142 | 27,879,331 | — | (462,189) | ||||||
Expiring 05/02/23 | HSBC | EUR | 25,849 | 27,913,184 | 28,083,821 | — | (170,637) | ||||||
$58,801,302 | $59,413,669 | 28,026 | (640,393) | ||||||||||
$207,507 | $(640,393) |
Credit default swap agreements
outstanding at March 31, 2023:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at March 31, 2023(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||
OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^: | |||||||||||||||||
GS_21-PJA | 04/14/23 | 0.500%(M) | 8,226 | * | $7,076 | $(768) | $7,844 | GSI |
A34
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Credit default swap agreements
outstanding at March 31, 2023: (continued)
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1): | ||||||||||||||||
Credit Suisse Group AG | 06/20/26 | 1.000%(Q) | 3,000 | $82,228 | $161,188 | $(78,960) | BARC | |||||||||
Credit Suisse Group AG | 06/20/26 | 1.000%(Q) | 3,000 | 82,229 | 157,227 | (74,998) | BARC | |||||||||
Credit Suisse Group AG | 06/20/26 | 1.000%(Q) | 3,000 | 82,229 | 176,865 | (94,636) | BARC | |||||||||
U.S. Treasury Note | 12/20/27 | 0.250%(Q) | EUR | 915 | 9,907 | 5,060 | 4,847 | BARC | ||||||||
U.S. Treasury Note | 12/20/27 | 0.250%(Q) | EUR | 915 | 9,907 | 5,060 | 4,847 | BARC | ||||||||
U.S. Treasury Note | 12/20/32 | 0.250%(Q) | EUR | 460 | 7,355 | 5,592 | 1,763 | BNP | ||||||||
$273,855 | $510,992 | $(237,137) |
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Value at Trade Date | Value at March 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1): | ||||||||||||||
CDX.NA.IG.40.V1 | 06/20/28 | 1.000%(Q) | 12,494 | $(55,018) | $(147,060) | $(92,042) |
The Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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. |
* | When an implied credit spread is not available, reference the fair value of credit default swap agreements on credit indices and asset-backed securities. Where the Portfolio is the seller of protection, it serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, when compared to the notional amount of the swap, represents 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. |
A35
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2023 (unaudited) |
Interest rate swap agreements
outstanding at March 31, 2023:
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at March 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements: | ||||||||||||||
7,208 | 03/08/25 | 4.946%(A) | 1 Day SOFR(2)(A)/ 4.870% | $— | $110,280 | $110,280 | ||||||||
9,116 | 03/09/25 | 5.110%(A) | 1 Day SOFR(2)(A)/ 4.870% | — | 167,973 | 167,973 | ||||||||
20,448 | 03/10/25 | 5.088%(A) | 1 Day SOFR(2)(A)/ 4.870% | — | 367,987 | 367,987 | ||||||||
$— | $646,240 | $646,240 |
(1) | The Portfolio pays the fixed rate and receives the floating rate. |
(2) | The Portfolio pays the floating rate and receives the fixed rate. |
Total return swap agreements outstanding at March 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: | ||||||||||||||
Total Return Benchmark Bond Index(T) | 1 Day USOIS -54bps(T)/ 4.290% | JPM | 09/20/23 | (7,885) | $(97,059) | $— | $(97,059) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +10bps(T)/ 4.930% | JPM | 04/18/23 | 9,385 | (146,281) | — | (146,281) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +10bps(T)/ 4.930% | GSI | 04/19/23 | 17,470 | (525,272) | — | (525,272) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +10bps(T)/ 4.930% | JPM | 04/21/23 | 16,725 | (426,979) | — | (426,979) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +11bps(T)/ 4.940% | JPM | 04/26/23 | 14,990 | (457,136) | — | (457,136) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +10bps(T)/ 4.930% | GSI | 04/27/23 | 24,575 | (608,902) | — | (608,902) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +12bps(T)/ 4.950% | BOA | 05/10/23 | 27,440 | (77,957) | — | (77,957) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +12bps(T)/ 4.950% | JPM | 05/23/23 | 18,765 | 546,759 | — | 546,759 | |||||||
$(1,792,827) | $— | $(1,792,827) |
(1) | On a long total return swap, the Portfolio 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 Portfolio 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 Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
A36