Free signup for more
- Track your favorite companies
- Receive email alerts for new filings
- Personalized dashboard of news and more
- Access all data and search results
Filing tables
Filing exhibits
Prudential Series Fund similar filings
- 28 May 24 PSF PGIM Jennison Value Portfolio (Mar 2024 report)
- 28 May 24 PSF PGIM 50/50 Balanced Portfolio (Mar 2024 report)
- 28 May 24 PSF PGIM Total Return Bond Portfolio (Mar 2024 report)
- 28 May 24 PSF PGIM Flexible Managed Portfolio (Mar 2024 report)
- 28 May 24 PSF PGIM Government Income Portfolio (Mar 2024 report)
- 28 May 24 PSF Mid-Cap Growth Portfolio (Mar 2024 report)
- 28 May 24 PSF PGIM High Yield Bond Portfolio (Mar 2024 report)
Filing view
External links
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Long-Term Investments — 94.5% | ||||||
Common Stocks — 60.9% | ||||||
Aerospace & Defense — 1.0% | ||||||
BAE Systems PLC (United Kingdom) | 5,480 | $93,409 | ||||
Boeing Co. (The)* | 50,600 | 9,765,294 | ||||
Curtiss-Wright Corp. | 23,200 | 5,937,808 | ||||
Dassault Aviation SA (France) | 30 | 6,605 | ||||
Howmet Aerospace, Inc. | 195,400 | 13,371,222 | ||||
Kongsberg Gruppen ASA (Norway) | 120 | 8,286 | ||||
Melrose Industries PLC (United Kingdom) | 14,012 | 118,975 | ||||
MTU Aero Engines AG (Germany) | 74 | 18,768 | ||||
Northrop Grumman Corp. | 38,300 | 18,332,678 | ||||
Rheinmetall AG (Germany) | 63 | 35,433 | ||||
Rolls-Royce Holdings PLC (United Kingdom)* | 48,925 | 263,234 | ||||
Safran SA (France) | 514 | 116,406 | ||||
Singapore Technologies Engineering Ltd. (Singapore) | 2,100 | 6,252 | ||||
48,074,370 | ||||||
Air Freight & Logistics — 0.4% | ||||||
FedEx Corp. | 66,300 | 19,209,762 | ||||
Automobile Components — 0.1% | ||||||
Aptiv PLC* | 25,900 | 2,062,935 | ||||
Denso Corp. (Japan) | 10,300 | 197,262 | ||||
Sumitomo Electric Industries Ltd. (Japan) | 2,600 | 40,288 | ||||
2,300,485 | ||||||
Automobiles — 1.0% | ||||||
Bayerische Motoren Werke AG (Germany) | 1,849 | 213,336 | ||||
Ford Motor Co. | 1,329,800 | 17,659,744 | ||||
General Motors Co. | 115,000 | 5,215,250 | ||||
Mazda Motor Corp. (Japan) | 14,400 | 166,890 | ||||
Stellantis NV | 9,899 | 281,221 | ||||
Subaru Corp. (Japan) | 8,300 | 187,977 | ||||
Tesla, Inc.* | 128,900 | 22,659,331 | ||||
Toyota Motor Corp. (Japan) | 8,100 | 204,727 | ||||
Volkswagen AG (Germany) | 43 | 6,569 | ||||
Volvo Car AB (Sweden) (Class B Stock)* | 33,924 | 128,436 | ||||
46,723,481 | ||||||
Banks — 2.0% | ||||||
ABN AMRO Bank NV (Netherlands), 144A, CVA | 716 | 12,252 | ||||
Banco Bilbao Vizcaya Argentaria SA (Spain) | 18,547 | 220,867 | ||||
Banco Santander SA (Spain) | 19,673 | 96,091 | ||||
Bank of America Corp. | 657,100 | 24,917,232 | ||||
Barclays PLC (United Kingdom) | 23,150 | 53,654 | ||||
BOC Hong Kong Holdings Ltd. (China) | 7,000 | 18,769 | ||||
CaixaBank SA (Spain) | 6,344 | 30,785 | ||||
Citigroup, Inc. | 15,000 | 948,600 | ||||
Citizens Financial Group, Inc. | 94,300 | 3,422,147 | ||||
Commonwealth Bank of Australia (Australia) | 383 | 30,042 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Banks (cont’d.) | ||||||
Credit Agricole SA (France) | 8,454 | $126,116 | ||||
Danske Bank A/S (Denmark) | 1,020 | 30,617 | ||||
DBS Group Holdings Ltd. (Singapore) | 500 | 13,344 | ||||
DNB Bank ASA (Norway) | 1,378 | 27,391 | ||||
Erste Group Bank AG (Austria) | 1,457 | 64,935 | ||||
HSBC Holdings PLC (United Kingdom) | 33,043 | 258,291 | ||||
Intesa Sanpaolo SpA (Italy) | 53,810 | 195,359 | ||||
JPMorgan Chase & Co. | 174,494 | 34,951,148 | ||||
Mitsubishi UFJ Financial Group, Inc. (Japan) | 24,300 | 247,231 | ||||
National Australia Bank Ltd. (Australia) | 7,487 | 169,521 | ||||
NatWest Group PLC (United Kingdom) | 11,352 | 38,022 | ||||
Nordea Bank Abp (Finland) | 5,496 | 62,131 | ||||
Oversea-Chinese Banking Corp. Ltd. (Singapore) | 20,000 | 199,837 | ||||
PNC Financial Services Group, Inc. (The) | 10,800 | 1,745,280 | ||||
Popular, Inc. (Puerto Rico) | 17,900 | 1,576,811 | ||||
Skandinaviska Enskilda Banken AB (Sweden) (Class A Stock) | 2,229 | 30,198 | ||||
Svenska Handelsbanken AB (Sweden) (Class A Stock) | 2,100 | 21,231 | ||||
Swedbank AB (Sweden) (Class A Stock) | 1,275 | 25,306 | ||||
Truist Financial Corp. | 115,200 | 4,490,496 | ||||
UniCredit SpA (Italy) | 5,426 | 206,076 | ||||
United Overseas Bank Ltd. (Singapore) | 2,600 | 56,524 | ||||
Wells Fargo & Co. | 376,800 | 21,839,328 | ||||
Westpac Banking Corp. (Australia) | 5,152 | 87,626 | ||||
96,213,258 | ||||||
Beverages — 0.9% | ||||||
Asahi Group Holdings Ltd. (Japan) | 400 | 14,688 | ||||
Coca-Cola Co. (The) | 464,600 | 28,424,228 | ||||
Coca-Cola Europacific Partners PLC (United Kingdom) | 300 | 20,985 | ||||
Coca-Cola HBC AG (Italy)* | 330 | 10,428 | ||||
Keurig Dr. Pepper, Inc. | 405,300 | 12,430,551 | ||||
PepsiCo, Inc. | 12,100 | 2,117,621 | ||||
43,018,501 | ||||||
Biotechnology — 1.0% | ||||||
AbbVie, Inc. | 179,000 | 32,595,900 | ||||
Amgen, Inc. | 26,900 | 7,648,208 | ||||
Incyte Corp.* | 123,600 | 7,041,492 | ||||
Swedish Orphan Biovitrum AB (Sweden)* | 494 | 12,330 | ||||
United Therapeutics Corp.* | 16,400 | 3,767,408 | ||||
51,065,338 | ||||||
Broadline Retail — 2.4% | ||||||
Amazon.com, Inc.* | 657,100 | 118,527,698 | ||||
Next PLC (United Kingdom) | 525 | 61,196 | ||||
Prosus NV (China)* | 2,175 | 68,079 | ||||
118,656,973 |
A1
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Building Products — 0.4% | ||||||
Armstrong World Industries, Inc. | 16,300 | $2,024,786 | ||||
Assa Abloy AB (Sweden) (Class B Stock) | 940 | 26,976 | ||||
AZEK Co., Inc. (The)* | 252,200 | 12,665,484 | ||||
Cie de Saint-Gobain SA (France) | 666 | 51,691 | ||||
Owens Corning | 33,500 | 5,587,800 | ||||
ROCKWOOL A/S (Denmark) (Class B Stock) | 18 | 5,923 | ||||
20,362,660 | ||||||
Capital Markets — 1.8% | ||||||
3i Group PLC (United Kingdom) | 4,921 | 174,486 | ||||
Amundi SA (France), 144A | 96 | 6,594 | ||||
Bank of New York Mellon Corp. (The) | 178,200 | 10,267,884 | ||||
BlackRock, Inc.(a) | 23,300 | 19,425,210 | ||||
Deutsche Bank AG (Germany) | 10,530 | 165,850 | ||||
Deutsche Boerse AG (Germany) | 256 | 52,426 | ||||
Goldman Sachs Group, Inc. (The) | 37,400 | 15,621,606 | ||||
Intercontinental Exchange, Inc. | 6,400 | 879,552 | ||||
Invesco Ltd. | 55,500 | 920,745 | ||||
MSCI, Inc. | 23,700 | 13,282,665 | ||||
Raymond James Financial, Inc. | 10,000 | 1,284,200 | ||||
S&P Global, Inc. | 54,300 | 23,101,935 | ||||
St. James’s Place PLC (United Kingdom) | 891 | 5,227 | ||||
T. Rowe Price Group, Inc. | 7,500 | 914,400 | ||||
UBS Group AG (Switzerland) | 4,852 | 149,398 | ||||
Virtu Financial, Inc. (Class A Stock) | 146,700 | 3,010,284 | ||||
89,262,462 | ||||||
Chemicals — 0.8% | ||||||
Arkema SA (France) | 68 | 7,159 | ||||
Dow, Inc.(a) | 17,000 | 984,810 | ||||
Ecolab, Inc. | 7,800 | 1,801,020 | ||||
Givaudan SA (Switzerland) | 4 | 17,807 | ||||
ICL Group Ltd. (Israel) | 15,604 | 82,699 | ||||
Linde PLC | 27,500 | 12,768,800 | ||||
LyondellBasell Industries NV (Class A Stock) | 14,900 | 1,523,972 | ||||
Mosaic Co. (The) | 32,300 | 1,048,458 | ||||
Nippon Sanso Holdings Corp. (Japan) | 1,500 | 47,064 | ||||
Nitto Denko Corp. (Japan) | 200 | 18,289 | ||||
Orica Ltd. (Australia) | 1,748 | 20,791 | ||||
PPG Industries, Inc. | 93,500 | 13,548,150 | ||||
Sherwin-Williams Co. (The) | 25,400 | 8,822,182 | ||||
Shin-Etsu Chemical Co. Ltd. (Japan) | 700 | 30,703 | ||||
Solvay SA (Belgium) | 1,489 | 40,637 | ||||
Syensqo SA (Belgium)* | 229 | 21,699 | ||||
Yara International ASA (Brazil) | 223 | 7,071 | ||||
40,791,311 | ||||||
Commercial Services & Supplies — 0.2% | ||||||
Brambles Ltd. (Australia) | 6,650 | 69,985 | ||||
Cintas Corp. | 1,800 | 1,236,654 | ||||
Waste Management, Inc. | 48,100 | 10,252,515 | ||||
11,559,154 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Communications Equipment — 0.4% | ||||||
Arista Networks, Inc.* | 57,800 | $16,760,844 | ||||
Cisco Systems, Inc. | 88,700 | 4,427,017 | ||||
Nokia OYJ (Finland) | 6,028 | 21,388 | ||||
21,209,249 | ||||||
Construction & Engineering — 0.0% | ||||||
ACS Actividades de Construccion y Servicios SA (Spain) | 310 | 12,982 | ||||
Eiffage SA (France) | 250 | 28,373 | ||||
Taisei Corp. (Japan) | 200 | 7,290 | ||||
Vinci SA (France) | 2,132 | 273,597 | ||||
322,242 | ||||||
Construction Materials — 0.2% | ||||||
CRH PLC | 1,032 | 89,072 | ||||
Heidelberg Materials AG (Germany) | 392 | 43,152 | ||||
Holcim AG* | 2,362 | 213,989 | ||||
James Hardie Industries PLC, CDI* | 645 | 25,925 | ||||
Vulcan Materials Co. | 39,800 | 10,862,216 | ||||
11,234,354 | ||||||
Consumer Finance — 0.2% | ||||||
Ally Financial, Inc. | 45,000 | 1,826,550 | ||||
American Express Co. | 12,300 | 2,800,587 | ||||
Synchrony Financial | 123,400 | 5,321,008 | ||||
9,948,145 | ||||||
Consumer Staples Distribution & Retail — 1.1% | ||||||
Carrefour SA (France) | 794 | 13,620 | ||||
Coles Group Ltd. (Australia) | 1,829 | 20,191 | ||||
Costco Wholesale Corp. | 23,500 | 17,216,805 | ||||
J Sainsbury PLC (United Kingdom) | 2,462 | 8,406 | ||||
Koninklijke Ahold Delhaize NV (Netherlands) | 6,113 | 182,912 | ||||
Target Corp. | 115,200 | 20,414,592 | ||||
Tesco PLC (United Kingdom) | 13,170 | 49,328 | ||||
Walgreens Boots Alliance, Inc. | 160,900 | 3,489,921 | ||||
Walmart, Inc. | 208,800 | 12,563,496 | ||||
53,959,271 | ||||||
Containers & Packaging — 0.0% | ||||||
Avery Dennison Corp. | 4,200 | 937,650 | ||||
Smurfit Kappa Group PLC (Ireland) | 385 | 17,554 | ||||
955,204 | ||||||
Distributors — 0.0% | ||||||
LKQ Corp. | 16,300 | 870,583 | ||||
Diversified REITs — 0.0% | ||||||
GPT Group (The) (Australia) | 5,640 | 16,785 | ||||
Stockland (Australia) | 1,755 | 5,545 | ||||
22,330 | ||||||
Diversified Telecommunication Services — 0.5% | ||||||
AT&T, Inc. | 772,300 | 13,592,480 | ||||
BT Group PLC (United Kingdom) | 9,744 | 13,485 | ||||
Deutsche Telekom AG (Germany) | 4,796 | 116,421 | ||||
GCI Liberty, Inc. (Class A Stock)*^ | 343 | — |
A2
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Diversified Telecommunication Services (cont’d.) | ||||||
HKT Trust & HKT Ltd. (Hong Kong), UTS | 44,000 | $51,339 | ||||
Koninklijke KPN NV (Netherlands) | 23,493 | 87,873 | ||||
Nippon Telegraph & Telephone Corp. (Japan) | 4,400 | 5,241 | ||||
Orange SA (France) | 9,958 | 117,106 | ||||
Telecom Italia SpA (Italy)* | 57,225 | 13,892 | ||||
Verizon Communications, Inc. | 298,788 | 12,537,144 | ||||
26,534,981 | ||||||
Electric Utilities — 0.8% | ||||||
Chubu Electric Power Co., Inc. (Japan) | 8,800 | 115,070 | ||||
Duke Energy Corp. | 26,400 | 2,553,144 | ||||
Endesa SA (Spain) | 7,722 | 143,177 | ||||
Enel SpA (Italy) | 12,070 | 79,680 | ||||
Entergy Corp. | 14,500 | 1,532,360 | ||||
Exelon Corp. | 38,500 | 1,446,445 | ||||
Kansai Electric Power Co., Inc. (The) (Japan) | 800 | 11,415 | ||||
NextEra Energy, Inc.(a) | 72,400 | 4,627,084 | ||||
NRG Energy, Inc. | 213,800 | 14,472,122 | ||||
PG&E Corp. | 358,800 | 6,013,488 | ||||
Tokyo Electric Power Co. Holdings, Inc. (Japan)* | 4,600 | 27,960 | ||||
Xcel Energy, Inc. | 128,700 | 6,917,625 | ||||
37,939,570 | ||||||
Electrical Equipment — 0.5% | ||||||
ABB Ltd. (Switzerland) | 6,116 | 283,723 | ||||
Eaton Corp. PLC | 46,900 | 14,664,692 | ||||
Emerson Electric Co. | 14,300 | 1,621,906 | ||||
Legrand SA (France) | 128 | 13,555 | ||||
Vertiv Holdings Co. (Class A Stock) | 112,700 | 9,204,209 | ||||
25,788,085 | ||||||
Electronic Equipment, Instruments & Components — 0.3% | ||||||
Amphenol Corp. (Class A Stock) | 7,500 | 865,125 | ||||
Azbil Corp. (Japan) | 200 | 5,533 | ||||
Shimadzu Corp. (Japan) | 1,600 | 44,567 | ||||
TD SYNNEX Corp. | 14,000 | 1,583,400 | ||||
TE Connectivity Ltd. | 69,200 | 10,050,608 | ||||
Yokogawa Electric Corp. (Japan) | 5,100 | 117,450 | ||||
12,666,683 | ||||||
Energy Equipment & Services — 0.1% | ||||||
Schlumberger NV | 94,900 | 5,201,469 | ||||
Entertainment — 0.9% | ||||||
Bollore SE (France) | 2,592 | 17,318 | ||||
Capcom Co. Ltd. (Japan) | 400 | 7,494 | ||||
Electronic Arts, Inc. | 66,300 | 8,796,021 | ||||
Konami Group Corp. (Japan) | 200 | 13,624 | ||||
Netflix, Inc.* | 23,600 | 14,332,988 | ||||
Nintendo Co. Ltd. (Japan) | 1,200 | 65,477 | ||||
Walt Disney Co. (The) | 139,800 | 17,105,928 | ||||
Warner Bros Discovery, Inc.* | 332,200 | 2,900,106 | ||||
43,238,956 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Financial Services — 2.5% | ||||||
Adyen NV (Netherlands), 144A* | 71 | $119,929 | ||||
Berkshire Hathaway, Inc. (Class B Stock)* | 107,550 | 45,226,926 | ||||
Corpay, Inc.* | 6,800 | 2,098,072 | ||||
EXOR NV (Netherlands) | 155 | 17,249 | ||||
Industrivarden AB (Sweden) (Class A Stock) | 188 | 6,465 | ||||
Investor AB (Sweden) (Class B Stock) | 4,508 | 113,125 | ||||
M&G PLC (United Kingdom) | 3,260 | 9,074 | ||||
Mastercard, Inc. (Class A Stock) | 70,000 | 33,709,900 | ||||
ORIX Corp. (Japan) | 1,700 | 37,182 | ||||
PayPal Holdings, Inc.* | 117,700 | 7,884,723 | ||||
Visa, Inc. (Class A Stock)(a) | 124,800 | 34,829,184 | ||||
124,051,829 | ||||||
Food Products — 0.5% | ||||||
Archer-Daniels-Midland Co. | 133,500 | 8,385,135 | ||||
Associated British Foods PLC (United Kingdom) | 522 | 16,470 | ||||
Freshpet, Inc.* | 70,200 | 8,133,372 | ||||
General Mills, Inc. | 20,800 | 1,455,376 | ||||
Hormel Foods Corp. | 39,100 | 1,364,199 | ||||
J.M. Smucker Co. (The) | 20,400 | 2,567,748 | ||||
Mondelez International, Inc. (Class A Stock) | 15,200 | 1,064,000 | ||||
Mowi ASA (Norway) | 9,067 | 166,549 | ||||
Nestle SA | 2,722 | 289,212 | ||||
Orkla ASA (Norway) | 1,083 | 7,649 | ||||
WH Group Ltd. (Hong Kong), 144A | 155,000 | 102,313 | ||||
Wilmar International Ltd. (China) | 51,600 | 131,070 | ||||
23,683,093 | ||||||
Gas Utilities — 0.0% | ||||||
Tokyo Gas Co. Ltd. (Japan) | 6,800 | 154,583 | ||||
Ground Transportation — 0.6% | ||||||
Central Japan Railway Co. (Japan) | 6,900 | 171,364 | ||||
CSX Corp. | 149,400 | 5,538,258 | ||||
Odakyu Electric Railway Co. Ltd. (Japan) | 2,500 | 34,462 | ||||
Uber Technologies, Inc.* | 213,700 | 16,452,763 | ||||
Union Pacific Corp. | 30,800 | 7,574,644 | ||||
29,771,491 | ||||||
Health Care Equipment & Supplies — 1.6% | ||||||
Abbott Laboratories | 172,500 | 19,606,350 | ||||
Align Technology, Inc.* | 4,400 | 1,442,848 | ||||
Becton, Dickinson & Co. | 75,400 | 18,657,730 | ||||
Boston Scientific Corp.* | 127,400 | 8,725,626 | ||||
Cochlear Ltd. (Australia) | 614 | 135,038 | ||||
Demant A/S (Denmark)* | 153 | 7,604 | ||||
DENTSPLY SIRONA, Inc. | 137,200 | 4,553,668 | ||||
Hologic, Inc.* | 33,600 | 2,619,456 | ||||
Hoya Corp. (Japan) | 100 | 12,507 | ||||
Intuitive Surgical, Inc.* | 48,200 | 19,236,138 | ||||
Medtronic PLC(a) | 23,300 | 2,030,595 | ||||
77,027,560 |
A3
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Health Care Providers & Services — 1.6% | ||||||
Cardinal Health, Inc. | 127,300 | $14,244,870 | ||||
Centene Corp.* | 212,100 | 16,645,608 | ||||
Elevance Health, Inc. | 31,400 | 16,282,156 | ||||
Fresenius Medical Care AG (Germany) | 3,104 | 119,270 | ||||
Fresenius SE & Co. KGaA (Germany) | 2,965 | 79,957 | ||||
Laboratory Corp. of America Holdings | 49,400 | 10,791,924 | ||||
McKesson Corp. | 2,700 | 1,449,495 | ||||
UnitedHealth Group, Inc. | 34,800 | 17,215,560 | ||||
76,828,840 | ||||||
Health Care REITs — 0.0% | ||||||
Healthpeak Properties, Inc. | 101,200 | 1,897,500 | ||||
Hotel & Resort REITs — 0.0% | ||||||
Park Hotels & Resorts, Inc. | 51,100 | 893,739 | ||||
Hotels, Restaurants & Leisure — 1.2% | ||||||
Accor SA (France) | 2,723 | 127,127 | ||||
Aristocrat Leisure Ltd. (Australia) | 859 | 24,053 | ||||
Chipotle Mexican Grill, Inc.* | 6,900 | 20,056,713 | ||||
Genting Singapore Ltd. (Singapore) | 9,100 | 5,968 | ||||
Hilton Worldwide Holdings, Inc. | 85,400 | 18,216,674 | ||||
La Francaise des Jeux SAEM (France), 144A | 3,205 | 130,629 | ||||
Marriott International, Inc. (Class A Stock)(a) | 16,600 | 4,188,346 | ||||
McDonald’s Corp. | 59,800 | 16,860,610 | ||||
Whitbread PLC (United Kingdom) | 4,097 | 171,287 | ||||
59,781,407 | ||||||
Household Durables — 0.2% | ||||||
Barratt Developments PLC (United Kingdom) | 1,449 | 8,697 | ||||
Berkeley Group Holdings PLC (United Kingdom) | 974 | 58,518 | ||||
Lennar Corp. (Class A Stock) | 46,400 | 7,979,872 | ||||
Persimmon PLC (United Kingdom) | 4,092 | 67,848 | ||||
Sony Group Corp. (Japan) | 400 | 34,300 | ||||
Taylor Wimpey PLC (United Kingdom) | 88,074 | 152,269 | ||||
8,301,504 | ||||||
Household Products — 0.9% | ||||||
Colgate-Palmolive Co. | 212,600 | 19,144,630 | ||||
Essity AB (Sweden) (Class B Stock) | 5,924 | 140,720 | ||||
Henkel AG & Co. KGaA (Germany) | 144 | 10,376 | ||||
Procter & Gamble Co. (The) | 138,005 | 22,391,311 | ||||
Reckitt Benckiser Group PLC (United Kingdom) | 1,036 | 59,057 | ||||
41,746,094 | ||||||
Independent Power & Renewable Electricity Producers — 0.1% | ||||||
AES Corp. (The) | 381,300 | 6,836,709 | ||||
Industrial Conglomerates — 0.7% | ||||||
3M Co. | 174,900 | 18,551,643 | ||||
CK Hutchison Holdings Ltd. (United Kingdom) | 4,000 | 19,251 | ||||
DCC PLC (United Kingdom) | 2,088 | 151,915 | ||||
General Electric Co. | 75,400 | 13,234,962 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Industrial Conglomerates (cont’d.) | ||||||
Hikari Tsushin, Inc. (Japan) | 100 | $18,807 | ||||
Hitachi Ltd. (Japan) | 1,400 | 127,933 | ||||
Lifco AB (Sweden) (Class B Stock) | 200 | 5,223 | ||||
Siemens AG (Germany) | 1,808 | 345,217 | ||||
32,454,951 | ||||||
Industrial REITs — 0.2% | ||||||
Americold Realty Trust, Inc. | 94,400 | 2,352,448 | ||||
Goodman Group (Australia) | 11,673 | 257,125 | ||||
Prologis, Inc. | 62,000 | 8,073,640 | ||||
10,683,213 | ||||||
Insurance — 1.5% | ||||||
Ageas SA/NV (Belgium) | 2,260 | 104,696 | ||||
Allianz SE (Germany) | 576 | 172,637 | ||||
Allstate Corp. (The) | 102,700 | 17,768,127 | ||||
Assurant, Inc. | 54,000 | 10,164,960 | ||||
Aviva PLC (United Kingdom) | 25,092 | 157,445 | ||||
AXA SA (France) | 5,985 | 224,771 | ||||
Dai-ichi Life Holdings, Inc. (Japan) | 500 | 12,752 | ||||
Japan Post Holdings Co. Ltd. (Japan) | 12,300 | 123,924 | ||||
Japan Post Insurance Co. Ltd. (Japan) | 700 | 13,381 | ||||
Loews Corp. | 21,000 | 1,644,090 | ||||
Marsh & McLennan Cos., Inc. | 59,600 | 12,276,408 | ||||
Medibank Private Ltd. (Australia) | 63,944 | 156,671 | ||||
MetLife, Inc. | 225,600 | 16,719,216 | ||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany) | 573 | 279,705 | ||||
Poste Italiane SpA (Italy), 144A | 1,909 | 23,909 | ||||
Progressive Corp. (The) | 9,900 | 2,047,518 | ||||
QBE Insurance Group Ltd. (Australia) | 2,150 | 25,414 | ||||
Sampo OYJ (Finland) (Class A Stock) | 440 | 18,769 | ||||
Suncorp Group Ltd. (Australia) | 1,907 | 20,355 | ||||
Swiss Re AG | 450 | 57,886 | ||||
T&D Holdings, Inc. (Japan) | 800 | 13,907 | ||||
Talanx AG (Germany) | 90 | 7,130 | ||||
Tokio Marine Holdings, Inc. (Japan) | 3,500 | 109,712 | ||||
Travelers Cos., Inc. (The) | 39,800 | 9,159,572 | ||||
71,302,955 | ||||||
Interactive Media & Services — 3.8% | ||||||
Alphabet, Inc. (Class A Stock)* | 434,700 | 65,609,271 | ||||
Alphabet, Inc. (Class C Stock)* | 357,040 | 54,362,910 | ||||
Auto Trader Group PLC (United Kingdom), 144A | 1,350 | 11,922 | ||||
Meta Platforms, Inc. (Class A Stock) | 139,750 | 67,859,805 | ||||
Scout24 SE (Germany), 144A | 1,032 | 77,749 | ||||
187,921,657 | ||||||
IT Services — 0.8% | ||||||
Akamai Technologies, Inc.*(a) | 13,900 | 1,511,764 | ||||
Cognizant Technology Solutions Corp. (Class A Stock) | 176,200 | 12,913,698 | ||||
International Business Machines Corp. | 116,400 | 22,227,744 | ||||
SCSK Corp. (Japan) | 300 | 5,576 | ||||
TIS, Inc. (Japan) | 2,900 | 62,222 |
A4
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
IT Services (cont’d.) | ||||||
Wix.com Ltd. (Israel)* | 800 | $109,984 | ||||
36,830,988 | ||||||
Life Sciences Tools & Services — 1.0% | ||||||
Medpace Holdings, Inc.* | 30,800 | 12,447,820 | ||||
Thermo Fisher Scientific, Inc. | 33,000 | 19,179,930 | ||||
West Pharmaceutical Services, Inc. | 40,300 | 15,947,113 | ||||
47,574,863 | ||||||
Machinery — 1.0% | ||||||
Alfa Laval AB (Sweden) | 390 | 15,325 | ||||
Allison Transmission Holdings, Inc. | 174,700 | 14,178,652 | ||||
Atlas Copco AB (Sweden) (Class A Stock) | 3,904 | 65,933 | ||||
Atlas Copco AB (Sweden) (Class B Stock) | 2,154 | 31,815 | ||||
Cummins, Inc. | 5,400 | 1,591,110 | ||||
Daimler Truck Holding AG (Germany) | 1,971 | 99,880 | ||||
Deere & Co. | 30,900 | 12,691,866 | ||||
Donaldson Co., Inc. | 16,000 | 1,194,880 | ||||
Epiroc AB (Sweden) (Class B Stock) | 550 | 9,314 | ||||
Flowserve Corp. | 251,200 | 11,474,816 | ||||
GEA Group AG (Germany) | 3,536 | 149,503 | ||||
Indutrade AB (Sweden) | 399 | 10,867 | ||||
ITT, Inc.(a) | 16,400 | 2,230,892 | ||||
Otis Worldwide Corp.(a) | 22,200 | 2,203,794 | ||||
Parker-Hannifin Corp. | 5,200 | 2,890,108 | ||||
Rational AG (Germany) | 49 | 42,218 | ||||
Schindler Holding AG (Switzerland) | 35 | 8,540 | ||||
Schindler Holding AG (Switzerland) (Part. Cert.) | 56 | 14,096 | ||||
SKF AB (Sweden) (Class B Stock) | 8,587 | 175,302 | ||||
Toyota Industries Corp. (Japan) | 500 | 52,316 | ||||
Volvo AB (Sweden) (Class A Stock) | 297 | 8,178 | ||||
Volvo AB (Sweden) (Class B Stock) | 8,676 | 235,132 | ||||
Wartsila OYJ Abp (Finland) | 2,069 | 31,444 | ||||
49,405,981 | ||||||
Marine Transportation — 0.0% | ||||||
AP Moller - Maersk A/S (Denmark) (Class A Stock) | 4 | 5,125 | ||||
Media — 0.3% | ||||||
Comcast Corp. (Class A Stock) | 295,800 | 12,822,930 | ||||
Dentsu Group, Inc. (Japan) | 3,100 | 86,077 | ||||
Informa PLC (United Kingdom) | 11,419 | 119,808 | ||||
Publicis Groupe SA (France) | 1,645 | 179,339 | ||||
Vivendi SE (France) | 3,518 | 38,339 | ||||
13,246,493 | ||||||
Metals & Mining — 0.3% | ||||||
ArcelorMittal SA (Luxembourg) | 6,269 | 172,317 | ||||
BHP Group Ltd. (Australia) | 11,539 | 333,638 | ||||
BlueScope Steel Ltd. (Australia) | 10,021 | 155,858 | ||||
Fortescue Ltd. (Australia) | 5,150 | 86,185 | ||||
Freeport-McMoRan, Inc. | 222,800 | 10,476,056 | ||||
Glencore PLC (Australia) | 18,374 | 100,828 | ||||
JFE Holdings, Inc. (Japan) | 3,000 | 49,721 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Metals & Mining (cont’d.) | ||||||
Nippon Steel Corp. (Japan) | 6,900 | $166,045 | ||||
Northern Star Resources Ltd. (Australia) | 880 | 8,303 | ||||
Nucor Corp. | 21,800 | 4,314,220 | ||||
Rio Tinto Ltd. (Australia) | 504 | 40,000 | ||||
Rio Tinto PLC (Australia) | 1,650 | 104,321 | ||||
voestalpine AG (Austria) | 464 | 13,017 | ||||
16,020,509 | ||||||
Multi-Utilities — 0.5% | ||||||
Centrica PLC (United Kingdom) | 86,865 | 140,032 | ||||
CMS Energy Corp. | 177,600 | 10,716,384 | ||||
DTE Energy Co. | 37,500 | 4,205,250 | ||||
E.ON SE (Germany) | 2,402 | 33,440 | ||||
Engie SA (France) | 2,487 | 41,676 | ||||
NiSource, Inc. | 317,600 | 8,784,816 | ||||
23,921,598 | ||||||
Oil, Gas & Consumable Fuels — 2.2% | ||||||
Ampol Ltd. (Australia) | 342 | 8,871 | ||||
BP PLC (United Kingdom) | 25,380 | 159,220 | ||||
Cheniere Energy, Inc. | 32,500 | 5,241,600 | ||||
Chevron Corp. | 69,600 | 10,978,704 | ||||
ConocoPhillips | 134,000 | 17,055,520 | ||||
Coterra Energy, Inc. | 41,400 | 1,154,232 | ||||
Devon Energy Corp. | 32,400 | 1,625,832 | ||||
Diamondback Energy, Inc. | 17,700 | 3,507,609 | ||||
ENEOS Holdings, Inc. (Japan) | 4,100 | 19,753 | ||||
Eni SpA (Italy) | 3,242 | 51,334 | ||||
EOG Resources, Inc. | 11,600 | 1,482,944 | ||||
Equinor ASA (Norway) | 6,390 | 171,344 | ||||
Exxon Mobil Corp. | 368,300 | 42,811,192 | ||||
Galp Energia SGPS SA (Portugal) | 690 | 11,407 | ||||
Inpex Corp. (Japan) | 12,600 | 191,535 | ||||
Marathon Oil Corp. | 69,700 | 1,975,298 | ||||
Marathon Petroleum Corp. | 20,900 | 4,211,350 | ||||
Phillips 66 | 93,800 | 15,321,292 | ||||
Shell PLC (Netherlands) | 9,887 | 328,046 | ||||
TotalEnergies SE (France) | 1,383 | 95,136 | ||||
106,402,219 | ||||||
Paper & Forest Products — 0.0% | ||||||
UPM-Kymmene OYJ (Finland) | 780 | 25,987 | ||||
Passenger Airlines — 0.0% | ||||||
Deutsche Lufthansa AG (Germany)* | 895 | 7,034 | ||||
Japan Airlines Co. Ltd. (Japan) | 7,600 | 144,307 | ||||
Singapore Airlines Ltd. (Singapore) | 2,200 | 10,427 | ||||
161,768 | ||||||
Personal Care Products — 0.0% | ||||||
L’Oreal SA (France) | 165 | 78,139 | ||||
Unilever PLC (United Kingdom) | 6,295 | 316,021 | ||||
394,160 | ||||||
Pharmaceuticals — 2.5% | ||||||
AstraZeneca PLC (United Kingdom) | 1,260 | 169,273 | ||||
Bristol-Myers Squibb Co. | 329,000 | 17,841,670 |
A5
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Pharmaceuticals (cont’d.) | ||||||
Chugai Pharmaceutical Co. Ltd. (Japan) | 900 | $34,394 | ||||
Daiichi Sankyo Co. Ltd. (Japan) | 800 | 25,455 | ||||
Eli Lilly & Co. | 36,600 | 28,473,336 | ||||
GSK PLC | 6,451 | 138,505 | ||||
Hikma Pharmaceuticals PLC (Jordan) | 255 | 6,169 | ||||
Ipsen SA (France) | 566 | 67,352 | ||||
Johnson & Johnson | 233,748 | 36,976,596 | ||||
Merck & Co., Inc. | 280,700 | 37,038,365 | ||||
Novartis AG (Switzerland) | 4,702 | 455,428 | ||||
Novo Nordisk A/S (Denmark) (Class B Stock) | 6,282 | 805,813 | ||||
Ono Pharmaceutical Co. Ltd. (Japan) | 7,000 | 114,695 | ||||
Orion OYJ (Finland) (Class B Stock) | 161 | 6,002 | ||||
Otsuka Holdings Co. Ltd. (Japan) | 4,200 | 174,461 | ||||
Roche Holding AG | 1,082 | 276,255 | ||||
Sandoz Group AG (Switzerland)* | 910 | 27,469 | ||||
Sanofi SA | 2,220 | 215,972 | ||||
Shionogi & Co. Ltd. (Japan) | 3,700 | 189,077 | ||||
Takeda Pharmaceutical Co. Ltd. (Japan) | 2,900 | 80,660 | ||||
Teva Pharmaceutical Industries Ltd. (Israel), ADR* | 800 | 11,288 | ||||
123,128,235 | ||||||
Professional Services — 0.4% | ||||||
Adecco Group AG (Switzerland) | 225 | 8,901 | ||||
Automatic Data Processing, Inc. | 32,200 | 8,041,628 | ||||
Computershare Ltd. (Australia) | 812 | 13,831 | ||||
Dun & Bradstreet Holdings, Inc. | 855,100 | 8,585,204 | ||||
Experian PLC | 1,364 | 59,433 | ||||
Leidos Holdings, Inc. | 24,700 | 3,237,923 | ||||
Recruit Holdings Co. Ltd. (Japan) | 4,200 | 184,409 | ||||
RELX PLC (United Kingdom) | 1,200 | 51,751 | ||||
Wolters Kluwer NV (Netherlands) | 475 | 74,380 | ||||
20,257,460 | ||||||
Real Estate Management & Development — 0.1% | ||||||
Daito Trust Construction Co. Ltd. (Japan) | 100 | 11,408 | ||||
Daiwa House Industry Co. Ltd. (Japan) | 400 | 11,906 | ||||
Mitsubishi Estate Co. Ltd. (Japan) | 1,300 | 23,720 | ||||
Mitsui Fudosan Co. Ltd. (Japan) | 4,200 | 45,282 | ||||
Nomura Real Estate Holdings, Inc. (Japan) | 5,500 | 155,382 | ||||
Swire Pacific Ltd. (Hong Kong) (Class A Stock) | 1,500 | 12,349 | ||||
Zillow Group, Inc. (Class A Stock)* | 18,400 | 880,624 | ||||
Zillow Group, Inc. (Class C Stock)* | 38,000 | 1,853,640 | ||||
2,994,311 | ||||||
Residential REITs — 0.3% | ||||||
Equity Residential | 200,300 | 12,640,933 | ||||
Retail REITs — 0.1% | ||||||
Kimco Realty Corp. | 247,100 | 4,845,631 | ||||
Klepierre SA (France) | 4,298 | 111,256 | ||||
Scentre Group (Australia) | 7,020 | 15,504 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Retail REITs (cont’d.) | ||||||
Unibail-Rodamco-Westfield (France)* | 604 | $48,589 | ||||
Vicinity Ltd. (Australia) | 74,101 | 102,855 | ||||
5,123,835 | ||||||
Semiconductors & Semiconductor Equipment — 6.3% | ||||||
Advanced Micro Devices, Inc.* | 34,100 | 6,154,709 | ||||
Applied Materials, Inc. | 65,200 | 13,446,196 | ||||
ASM International NV (Netherlands) | 312 | 191,070 | ||||
ASML Holding NV (Netherlands) | 591 | 572,952 | ||||
Broadcom, Inc. | 19,400 | 25,712,954 | ||||
Disco Corp. (Japan) | 700 | 255,873 | ||||
Intel Corp. | 614,500 | 27,142,465 | ||||
Lam Research Corp. | 21,700 | 21,083,069 | ||||
Micron Technology, Inc. | 89,800 | 10,586,522 | ||||
NVIDIA Corp. | 180,600 | 163,182,936 | ||||
NXP Semiconductors NV (China) | 20,200 | 5,004,954 | ||||
Qorvo, Inc.* | 77,000 | 8,841,910 | ||||
QUALCOMM, Inc. | 160,300 | 27,138,790 | ||||
Renesas Electronics Corp. (Japan) | 2,400 | 42,770 | ||||
Tokyo Electron Ltd. (Japan) | 1,100 | 286,494 | ||||
309,643,664 | ||||||
Software — 6.5% | ||||||
Adobe, Inc.* | 30,050 | 15,163,230 | ||||
Cadence Design Systems, Inc.* | 49,500 | 15,408,360 | ||||
Check Point Software Technologies Ltd. (Israel)*(a) | 200 | 32,802 | ||||
Microsoft Corp. | 532,100 | 223,865,112 | ||||
Monday.com Ltd.* | 100 | 22,587 | ||||
Nemetschek SE (Germany) | 1,105 | 109,376 | ||||
Nice Ltd. (Israel)* | 151 | 39,296 | ||||
Oracle Corp. | 12,000 | 1,507,320 | ||||
Roper Technologies, Inc.(a) | 6,200 | 3,477,208 | ||||
Salesforce, Inc. | 110,100 | 33,159,918 | ||||
SAP SE (Germany) | 606 | 118,000 | ||||
ServiceNow, Inc.* | 30,500 | 23,253,200 | ||||
Xero Ltd. (New Zealand)* | 218 | 18,929 | ||||
316,175,338 | ||||||
Specialized REITs — 0.6% | ||||||
American Tower Corp. | 24,900 | 4,919,991 | ||||
Digital Realty Trust, Inc. | 12,600 | 1,814,904 | ||||
Equinix, Inc. | 1,100 | 907,863 | ||||
Iron Mountain, Inc. | 87,500 | 7,018,375 | ||||
Public Storage | 38,100 | 11,051,286 | ||||
Weyerhaeuser Co. | 56,000 | 2,010,960 | ||||
27,723,379 | ||||||
Specialty Retail — 1.2% | ||||||
AutoZone, Inc.* | 800 | 2,521,320 | ||||
Bath & Body Works, Inc. | 38,100 | 1,905,762 | ||||
CarMax, Inc.*(a) | 9,900 | 862,389 | ||||
Fast Retailing Co. Ltd. (Japan) | 600 | 185,895 | ||||
Home Depot, Inc. (The) | 71,500 | 27,427,400 | ||||
Industria de Diseno Textil SA (Spain) | 5,478 | 275,852 | ||||
Lowe’s Cos., Inc. | 54,300 | 13,831,839 | ||||
TJX Cos., Inc. (The) | 40,900 | 4,148,078 |
A6
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Specialty Retail (cont’d.) | ||||||
Ulta Beauty, Inc.* | 16,000 | $8,366,080 | ||||
Victoria’s Secret & Co.*(a) | 52,800 | 1,023,264 | ||||
60,547,879 | ||||||
Technology Hardware, Storage & Peripherals — 3.8% | ||||||
Apple, Inc. | 960,800 | 164,757,984 | ||||
Brother Industries Ltd. (Japan) | 300 | 5,564 | ||||
Hewlett Packard Enterprise Co. | 546,700 | 9,692,991 | ||||
HP, Inc. | 54,000 | 1,631,880 | ||||
Logitech International SA (Switzerland) | 1,955 | 175,186 | ||||
NetApp, Inc. | 8,500 | 892,245 | ||||
Seiko Epson Corp. (Japan) | 3,900 | 68,221 | ||||
Super Micro Computer, Inc.* | 6,200 | 6,262,186 | ||||
183,486,257 | ||||||
Textiles, Apparel & Luxury Goods — 0.3% | ||||||
Cie Financiere Richemont SA (Switzerland) (Class A Stock) | 30 | 4,567 | ||||
Deckers Outdoor Corp.* | 2,600 | 2,447,276 | ||||
Hermes International SCA (France) | 120 | 306,694 | ||||
LVMH Moet Hennessy Louis Vuitton SE (France) | 217 | 195,256 | ||||
NIKE, Inc. (Class B Stock) | 10,200 | 958,596 | ||||
Pandora A/S (Denmark) | 240 | 38,737 | ||||
Ralph Lauren Corp. | 55,800 | 10,477,008 | ||||
14,428,134 | ||||||
Tobacco — 0.2% | ||||||
Altria Group, Inc. | 211,600 | 9,229,992 | ||||
British American Tobacco PLC (United Kingdom) | 3,126 | 94,878 | ||||
Imperial Brands PLC (United Kingdom) | 6,843 | 152,973 | ||||
Japan Tobacco, Inc. (Japan) | 1,800 | 47,991 | ||||
9,525,834 | ||||||
Trading Companies & Distributors — 0.1% | ||||||
AerCap Holdings NV (Ireland)*(a) | 2,200 | 191,202 | ||||
Brenntag SE (Germany) | 210 | 17,699 | ||||
Mitsubishi Corp. (Japan) | 6,700 | 154,845 | ||||
Mitsui & Co. Ltd. (Japan) | 3,500 | 163,631 | ||||
Reece Ltd. (Australia) | 364 | 6,665 | ||||
Toyota Tsusho Corp. (Japan) | 100 | 6,867 | ||||
W.W. Grainger, Inc. | 3,300 | 3,357,090 | ||||
3,897,999 | ||||||
Transportation Infrastructure — 0.0% | ||||||
Aena SME SA (Spain), 144A | 140 | 27,573 | ||||
Water Utilities — 0.0% | ||||||
American Water Works Co., Inc. | 7,700 | 941,017 | ||||
Wireless Telecommunication Services — 0.0% | ||||||
Tele2 AB (Sweden) (Class B Stock) | 767 | 6,298 | ||||
Total Common Stocks (cost $1,805,212,009) | 2,975,003,839 |
Shares | Value | |||||
Preferred Stocks — 0.0% | ||||||
Automobiles — 0.0% | ||||||
Bayerische Motoren Werke AG (Germany) (PRFC) | 87 | $9,336 | ||||
Banks — 0.0% | ||||||
Citigroup Capital XIII, 11.949%(c), 3 Month SOFR + 6.632%, Maturing 10/30/40 | 22,000 | 648,340 | ||||
Household Products — 0.0% | ||||||
Henkel AG & Co. KGaA (Germany) (PRFC) | 1,883 | 151,348 | ||||
Total Preferred Stocks (cost $703,517) | 809,024 | |||||
Unaffiliated Exchange-Traded Fund — 0.0% | ||||||
iShares MSCI EAFE ETF | 1,088 | 86,888 | ||||
(cost $53,013) |
Interest Rate | Maturity Date | Principal Amount (000)# | ||||
Asset-Backed Securities — 6.9% | ||||||
Automobiles — 1.8% | ||||||
AmeriCredit Automobile Receivables Trust, | ||||||
Series 2020-01, Class C | ||||||
1.590% | 10/20/25 | 3 | 2,833 | |||
Series 2020-03, Class C | ||||||
1.060% | 08/18/26 | 15 | 14,573 | |||
Series 2021-02, Class C | ||||||
1.010% | 01/19/27 | 1,300 | 1,223,107 | |||
Series 2021-02, Class D | ||||||
1.290% | 06/18/27 | 10 | 9,277 | |||
Series 2021-03, Class C | ||||||
1.410% | 08/18/27 | 1,300 | 1,211,356 | |||
Series 2023-01, Class C | ||||||
5.800% | 12/18/28 | 2,100 | 2,116,335 | |||
ARI Fleet Lease Trust, | ||||||
Series 2024-A, Class A2, 144A | ||||||
5.300% | 11/15/32 | 1,500 | 1,496,763 | |||
Avis Budget Rental Car Funding AESOP LLC, | ||||||
Series 2021-01A, Class A, 144A | ||||||
1.380% | 08/20/27 | 3,500 | 3,215,501 | |||
Series 2021-02A, Class A, 144A | ||||||
1.660% | 02/20/28 | 3,700 | 3,370,497 | |||
Series 2022-01A, Class A, 144A | ||||||
3.830% | 08/21/28 | 4,200 | 4,029,134 | |||
Series 2023-02A, Class A, 144A | ||||||
5.200% | 10/20/27 | 1,800 | 1,796,494 | |||
Series 2024-01A, Class A, 144A | ||||||
5.360% | 06/20/30 | 1,800 | 1,808,913 | |||
Series 2024-03A, Class A, 144A | ||||||
5.230% | 12/20/30 | 800 | 799,365 | |||
BOF VII AL Funding Trust I, | ||||||
Series 2023-CAR03, Class A2, 144A | ||||||
6.291% | 07/26/32 | 2,507 | 2,521,841 | |||
Series 2023-CAR03, Class B, 144A | ||||||
6.632% | 07/26/32 | 945 | 951,499 |
A7
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Automobiles (cont’d.) | |||||||
CarMax Auto Owner Trust, | |||||||
Series 2021-01, Class D | |||||||
1.280% | 07/15/27 | 10 | $9,547 | ||||
Series 2021-02, Class C | |||||||
1.340% | 02/16/27 | 1,100 | 1,044,634 | ||||
Series 2021-04, Class C | |||||||
1.380% | 07/15/27 | 800 | 744,636 | ||||
Series 2022-02, Class C | |||||||
4.260% | 12/15/27 | 25 | 24,334 | ||||
Exeter Automobile Receivables Trust, | |||||||
Series 2021-02A, Class C | |||||||
0.980% | 06/15/26 | 2 | 1,893 | ||||
Series 2021-04A, Class C | |||||||
1.460% | 10/15/27 | 15 | 14,499 | ||||
Ford Auto Securitization Trust (Canada), | |||||||
Series 2020-AA, Class A3, 144A | |||||||
1.153% | 11/15/25 | CAD | 1,655 | 1,200,720 | |||
Ford Credit Auto Owner Trust, | |||||||
Series 2020-01, Class A, 144A | |||||||
2.040% | 08/15/31 | 3,600 | 3,493,799 | ||||
Series 2020-02, Class A, 144A | |||||||
1.060% | 04/15/33 | 1,300 | 1,217,792 | ||||
Series 2021-02, Class B, 144A | |||||||
1.910% | 05/15/34 | 500 | 457,515 | ||||
Series 2023-01, Class A, 144A | |||||||
4.850% | 08/15/35 | 4,100 | 4,076,518 | ||||
Series 2023-02, Class A, 144A | |||||||
5.280% | 02/15/36 | 2,900 | 2,934,201 | ||||
Series 2024-01, Class A, 144A | |||||||
4.870% | 08/15/36 | 5,900 | 5,887,934 | ||||
GM Financial Automobile Leasing Trust, | |||||||
Series 2023-01, Class C | |||||||
5.760% | 01/20/27 | 25 | 25,029 | ||||
GM Financial Revolving Receivables Trust, | |||||||
Series 2021-01, Class B, 144A | |||||||
1.490% | 06/12/34 | 200 | 180,922 | ||||
Series 2024-01, Class A, 144A | |||||||
4.980% | 12/11/36 | 900 | 903,804 | ||||
Hertz Vehicle Financing III LLC, | |||||||
Series 2023-01A, Class A, 144A | |||||||
5.490% | 06/25/27 | 3,700 | 3,704,229 | ||||
Hertz Vehicle Financing III LP, | |||||||
Series 2021-02A, Class A, 144A | |||||||
1.680% | 12/27/27 | 1,900 | 1,733,786 | ||||
Hertz Vehicle Financing LLC, | |||||||
Series 2022-02A, Class A, 144A | |||||||
2.330% | 06/26/28 | 4,700 | 4,303,830 | ||||
Series 2023-03A, Class A, 144A | |||||||
5.940% | 02/25/28 | 2,200 | 2,232,575 | ||||
OneMain Direct Auto Receivables Trust, | |||||||
Series 2019-01A, Class A, 144A | |||||||
3.630% | 09/14/27 | 6,300 | 6,212,438 | ||||
Series 2021-01A, Class B, 144A | |||||||
1.260% | 07/14/28 | 2,600 | 2,398,515 | ||||
Series 2023-01A, Class A, 144A | |||||||
5.410% | 11/14/29 | 4,700 | 4,704,826 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Automobiles (cont’d.) | |||||||
Santander Drive Auto Receivables Trust, | |||||||
Series 2021-02, Class D | |||||||
1.350% | 07/15/27 | 2,145 | $2,082,637 | ||||
Series 2022-01, Class C | |||||||
2.560% | 04/17/28 | 1,600 | 1,569,846 | ||||
Series 2022-03, Class C | |||||||
4.490% | 08/15/29 | 25 | 24,523 | ||||
Series 2023-01, Class C | |||||||
5.090% | 05/15/30 | 800 | 790,887 | ||||
Series 2023-03, Class C | |||||||
5.770% | 11/15/30 | 1,500 | 1,511,228 | ||||
Series 2023-04, Class C | |||||||
6.040% | 12/15/31 | 2,600 | 2,643,745 | ||||
Series 2023-06, Class B | |||||||
5.980% | 04/16/29 | 700 | 711,454 | ||||
Series 2023-06, Class C | |||||||
6.400% | 03/17/31 | 300 | 308,709 | ||||
SFS Auto Receivables Securitization Trust, | |||||||
Series 2023-01A, Class B, 144A | |||||||
5.710% | 01/22/30 | 300 | 304,281 | ||||
Series 2023-01A, Class C, 144A | |||||||
5.970% | 02/20/31 | 500 | 508,130 | ||||
Wheels Fleet Lease Funding LLC, | |||||||
Series 2023-01A, Class A, 144A | |||||||
5.800% | 04/18/38 | 4,500 | 4,502,702 | ||||
World Omni Select Auto Trust, | |||||||
Series 2021-A, Class C | |||||||
1.090% | 11/15/27 | 600 | 563,250 | ||||
87,596,856 | |||||||
Collateralized Loan Obligations — 4.4% | |||||||
Anchorage Capital Europe CLO DAC (Ireland), | |||||||
Series 06A, Class AR, 144A, 3 Month EURIBOR + 1.750% (Cap N/A, Floor 1.750%) | |||||||
5.619%(c) | 01/22/38 | EUR | 3,250 | 3,527,758 | |||
Balboa Bay Loan Funding Ltd. (Cayman Islands), | |||||||
Series 2021-01A, Class A, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.462%) | |||||||
6.779%(c) | 07/20/34 | 3,750 | 3,756,723 | ||||
Battalion CLO Ltd. (Cayman Islands), | |||||||
Series 2016-10A, Class A1R2, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%) | |||||||
6.750%(c) | 01/25/35 | 700 | 700,275 | ||||
Series 2021-17A, Class A1, 144A, 3 Month SOFR + 1.522% (Cap N/A, Floor 1.260%) | |||||||
6.839%(c) | 03/09/34 | 4,417 | 4,418,547 | ||||
Benefit Street Partners CLO Ltd. (Cayman Islands), | |||||||
Series 2018-16A, Class A1R, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 1.030%) | |||||||
6.608%(c) | 01/17/32 | 10,500 | 10,518,855 | ||||
BNPP AM Euro CLO DAC (Ireland), | |||||||
Series 2018-01A, Class AR, 144A, 3 Month EURIBOR + 0.600% (Cap N/A, Floor 0.600%) | |||||||
4.542%(c) | 04/15/31 | EUR | 3,000 | 3,203,620 |
A8
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
Canyon Capital CLO Ltd. (Cayman Islands), | |||||||
Series 2017-01A, Class AR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | |||||||
6.576%(c) | 07/15/30 | 2,656 | $2,653,870 | ||||
Carlyle Euro CLO DAC (Ireland), | |||||||
Series 2021-02A, Class A1, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%) | |||||||
4.932%(c) | 10/15/35 | EUR | 5,000 | 5,341,759 | |||
CarVal CLO Ltd. (United Kingdom), | |||||||
Series 2023-01A, Class A1, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%) | |||||||
7.518%(c) | 01/20/35 | 7,000 | 7,025,642 | ||||
CIFC Funding Ltd. (Cayman Islands), | |||||||
Series 2014-05A, Class A1R2, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%) | |||||||
6.778%(c) | 10/17/31 | 9,750 | 9,752,747 | ||||
Clover CLO Ltd. (Cayman Islands), | |||||||
Series 2019-02A, Class AR, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.362%) | |||||||
6.686%(c) | 10/25/33 | 11,000 | 11,000,089 | ||||
Crown City CLO (Cayman Islands), | |||||||
Series 2022-04A, Class A1R, 144A, 3 Month SOFR + 1.610% (Cap N/A, Floor 1.610%) | |||||||
6.939%(c) | 04/20/37 | 6,250 | 6,251,100 | ||||
Elevation CLO Ltd. (Cayman Islands), | |||||||
Series 2017-06A, Class A1, 144A, 3 Month SOFR + 1.542% (Cap N/A, Floor 1.542%) | |||||||
6.856%(c) | 07/15/29 | 88 | 88,356 | ||||
Series 2018-03A, Class A1R, 144A, 3 Month SOFR + 1.472% (Cap N/A, Floor 1.210%) | |||||||
6.796%(c) | 01/25/35 | 7,500 | 7,484,401 | ||||
Greenwood Park CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A2, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 0.000%) | |||||||
6.586%(c) | 04/15/31 | 1,622 | 1,623,552 | ||||
Greywolf CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.290% (Cap N/A, Floor 0.000%) | |||||||
6.614%(c) | 04/26/31 | 3,592 | 3,592,331 | ||||
HPS Loan Management Ltd. (Cayman Islands), | |||||||
Series 2015-06A, Class A1R, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 0.000%) | |||||||
6.534%(c) | 02/05/31 | 135 | 135,050 | ||||
ICG Euro CLO DAC (Ireland), | |||||||
Series 2023-02A, Class A1, 144A, 3 Month EURIBOR + 1.730% (Cap N/A, Floor 1.730%) | |||||||
5.652%(c) | 01/26/38 | EUR | 14,500 | 15,731,608 | |||
Jamestown CLO Ltd. (Cayman Islands), | |||||||
Series 2019-14A, Class A1AR, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%) | |||||||
6.779%(c) | 10/20/34 | 4,875 | 4,872,562 | ||||
Jefferson Mill CLO Ltd. (Cayman Islands), | |||||||
Series 2015-01A, Class AR, 144A, 3 Month SOFR + 1.437% (Cap N/A, Floor 0.000%) | |||||||
6.754%(c) | 10/20/31 | 6,363 | 6,377,605 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
KKR Static CLO Ltd. (Cayman Islands), | |||||||
Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.220% (Cap N/A, Floor 2.220%) | |||||||
7.538%(c) | 10/20/31 | 4,209 | $4,213,489 | ||||
LCM Ltd. (Cayman Islands), | |||||||
Series 34A, Class A1, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%) | |||||||
6.749%(c) | 10/20/34 | 11,500 | 11,487,932 | ||||
MidOcean Credit CLO (Cayman Islands), | |||||||
Series 2014-03A, Class A1R, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%) | |||||||
6.699%(c) | 04/21/31 | 1,699 | 1,700,763 | ||||
Northwoods Capital Ltd. (Cayman Islands), | |||||||
Series 2017-15A, Class A1R, 144A, 3 Month SOFR + 1.472% (Cap N/A, Floor 1.472%) | |||||||
6.804%(c) | 06/20/34 | 9,500 | 9,493,548 | ||||
Oaktree CLO Ltd. (Cayman Islands), | |||||||
Series 2020-01A, Class AR, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.726%(c) | 07/15/34 | 3,000 | 3,001,897 | ||||
OFSI BSL Ltd. (Cayman Islands), | |||||||
Series 2023-12A, Class A1, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%) | |||||||
7.718%(c) | 01/20/35 | 7,000 | 7,004,620 | ||||
OZLM Ltd. (Cayman Islands), | |||||||
Series 2015-11A, Class A1R, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 0.000%) | |||||||
6.829%(c) | 10/30/30 | 618 | 618,051 | ||||
Palmer Square CLO Ltd. (Cayman Islands), | |||||||
Series 2014-01A, Class A1R2, 144A, 3 Month SOFR + 1.392% (Cap N/A, Floor 1.130%) | |||||||
6.708%(c) | 01/17/31 | 259 | 259,287 | ||||
Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A1AR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | |||||||
6.579%(c) | 10/20/31 | 8,709 | 8,707,315 | ||||
Regatta VII Funding Ltd. (Cayman Islands), | |||||||
Series 2016-01A, Class A1R2, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.744%(c) | 06/20/34 | 5,500 | 5,501,974 | ||||
Romark CLO Ltd. (Cayman Islands), | |||||||
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.437% (Cap N/A, Floor 1.175%) | |||||||
6.761%(c) | 07/25/31 | 881 | 883,671 | ||||
Sound Point CLO Ltd. (Cayman Islands), | |||||||
Series 2013-01A, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.332%) | |||||||
6.656%(c) | 01/26/31 | 3,289 | 3,290,262 | ||||
Series 2019-01A, Class AR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%) | |||||||
6.659%(c) | 01/20/32 | 1,240 | 1,239,704 | ||||
TCW CLO Ltd. (Cayman Islands), | |||||||
Series 2021-02A, Class AS, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%) | |||||||
6.766%(c) | 07/25/34 | 6,750 | 6,764,340 |
A9
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
Telos CLO Ltd. (Cayman Islands), | |||||||
Series 2013-04A, Class AR, 144A, 3 Month SOFR + 1.502% (Cap N/A, Floor 0.000%) | |||||||
6.818%(c) | 01/17/30 | 1,197 | $1,197,919 | ||||
Tikehau US CLO Ltd. (Bermuda), | |||||||
Series 2022-02A, Class A1R, 144A, 3 Month SOFR + 1.870% (Cap N/A, Floor 1.870%) | |||||||
7.188%(c) | 01/20/36 | 11,000 | 11,060,623 | ||||
Toro European CLO DAC (Ireland), | |||||||
Series 02A, Class ARR, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%) | |||||||
4.938%(c) | 07/25/34 | EUR | 4,500 | 4,796,453 | |||
Trimaran Cavu Ltd., | |||||||
Series 2019-01A, Class A1, 144A, 3 Month SOFR + 1.722% (Cap N/A, Floor 1.460%) | |||||||
7.039%(c) | 07/20/32 | 3,000 | 3,002,902 | ||||
Venture CLO Ltd. (Cayman Islands), | |||||||
Series 2021-42A, Class A1A, 144A, 3 Month SOFR + 1.392% (Cap N/A, Floor 1.130%) | |||||||
6.706%(c) | 04/15/34 | 10,000 | 9,971,155 | ||||
Wellfleet CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | |||||||
6.678%(c) | 07/17/31 | 2,925 | 2,926,474 | ||||
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%) | |||||||
6.779%(c) | 10/20/31 | 5,634 | 5,634,031 | ||||
Wellfleet CLO Ltd., | |||||||
Series 2017-03A, Class A1, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.728%(c) | 01/17/31 | 2,057 | 2,058,317 | ||||
212,871,177 | |||||||
Consumer Loans — 0.3% | |||||||
OneMain Financial Issuance Trust, | |||||||
Series 2020-02A, Class A, 144A | |||||||
1.750% | 09/14/35 | 2,900 | 2,700,944 | ||||
Series 2021-01A, Class A2, 144A, 30 Day Average SOFR + 0.760% (Cap N/A, Floor 0.000%) | |||||||
6.079%(c) | 06/16/36 | 2,800 | 2,790,008 | ||||
Series 2022-02A, Class A, 144A | |||||||
4.890% | 10/14/34 | 2,050 | 2,035,379 | ||||
Series 2023-02A, Class A1, 144A | |||||||
5.840% | 09/15/36 | 5,400 | 5,482,521 | ||||
13,008,852 | |||||||
Credit Cards — 0.1% | |||||||
NewDay Funding (United Kingdom), | |||||||
Series 2024-01A, Class A, 144A, SONIA + 1.180% (Cap N/A, Floor 0.000%) | |||||||
6.385%(c) | 03/15/32 | GBP | 5,400 | 6,824,470 | |||
Equipment — 0.1% | |||||||
MMAF Equipment Finance LLC, | |||||||
Series 2017-B, Class A5, 144A | |||||||
2.720% | 06/15/40 | 1,301 | 1,278,999 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Equipment (cont’d.) | |||||||
Series 2019-A, Class A5, 144A | |||||||
3.080% | 11/12/41 | 1,646 | $1,619,226 | ||||
Series 2019-B, Class A5, 144A | |||||||
2.290% | 11/12/41 | 2,400 | 2,256,034 | ||||
5,154,259 | |||||||
Home Equity Loans — 0.1% | |||||||
RCKT Mortgage Trust, | |||||||
Series 2024-CES01, Class A1A, 144A | |||||||
6.025%(cc) | 02/25/44 | 988 | 986,386 | ||||
Towd Point HE Trust, | |||||||
Series 2023-01, Class A1A, 144A | |||||||
6.875% | 02/25/63 | 388 | 388,721 | ||||
Towd Point Mortgage Trust, | |||||||
Series 2023-CES02, Class A1A, 144A | |||||||
7.294%(cc) | 10/25/63 | 757 | 771,356 | ||||
Series 2024-CES01, Class A1A, 144A | |||||||
5.848%(cc) | 01/25/64 | 196 | 195,940 | ||||
Series 2024-CES02, Class A1A, 144A | |||||||
6.125%(cc) | 02/25/64 | 396 | 396,718 | ||||
2,739,121 | |||||||
Other — 0.0% | |||||||
Home Partners of America Trust, | |||||||
Series 2021-03, Class A, 144A | |||||||
2.200% | 01/17/41 | 796 | 698,075 | ||||
TH MSR Issuer Trust, | |||||||
Series 2019-FT01, Class A, 144A, 1 Month SOFR + 2.914% (Cap N/A, Floor 2.800%) | |||||||
8.244%(c) | 06/25/24 | 1,650 | 1,638,619 | ||||
2,336,694 | |||||||
Residential Mortgage-Backed Securities — 0.0% | |||||||
Long Beach Mortgage Loan Trust, | |||||||
Series 2004-02, Class M1, 1 Month SOFR + 0.909% (Cap N/A, Floor 0.795%) | |||||||
6.239%(c) | 06/25/34 | 90 | 89,503 | ||||
TFS (Spain), | |||||||
Series 2018-03, Class A1 | |||||||
0.000%(s) | 04/16/40^ | EUR | —(r) | 1 | |||
Series 2018-03, Class A1, 1 Month EURIBOR + 3.250% | |||||||
7.112%(c) | 03/15/26^ | EUR | 981 | 899,428 | |||
988,932 | |||||||
Student Loans — 0.1% | |||||||
Commonbond Student Loan Trust, | |||||||
Series 2017-BGS, Class A1, 144A | |||||||
2.680% | 09/25/42 | 585 | 532,896 | ||||
Series 2018-AGS, Class A1, 144A | |||||||
3.210% | 02/25/44 | 423 | 393,110 | ||||
Series 2018-CGS, Class A1, 144A | |||||||
3.870% | 02/25/46 | 118 | 112,470 | ||||
Laurel Road Prime Student Loan Trust, | |||||||
Series 2018-B, Class A2FX, 144A | |||||||
3.540% | 05/26/43 | 22 | 22,224 |
A10
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Student Loans (cont’d.) | |||||||
Series 2019-A, Class A2FX, 144A | |||||||
2.730% | 10/25/48 | 132 | $128,662 | ||||
Navient Private Education Refi Loan Trust, | |||||||
Series 2018-CA, Class A2, 144A | |||||||
3.520% | 06/16/42 | 55 | 54,811 | ||||
Series 2019-CA, Class A2, 144A | |||||||
3.130% | 02/15/68 | 542 | 520,641 | ||||
Series 2020-BA, Class A2, 144A | |||||||
2.120% | 01/15/69 | 655 | 601,287 | ||||
Pennsylvania Higher Education Assistance Agency, | |||||||
Series 2021-01A, Class A, 144A, 30 Day Average SOFR + 0.644% (Cap N/A, Floor 0.530%) | |||||||
5.965%(c) | 05/25/70 | 1,376 | 1,367,013 | ||||
SoFi Professional Loan Program LLC, | |||||||
Series 2019-A, Class A2FX, 144A | |||||||
3.690% | 06/15/48 | 460 | 444,047 | ||||
Series 2019-B, Class A2FX, 144A | |||||||
3.090% | 08/17/48 | 563 | 535,282 | ||||
Series 2019-C, Class A2FX, 144A | |||||||
2.370% | 11/16/48 | 898 | 840,155 | ||||
SoFi Professional Loan Program Trust, | |||||||
Series 2018-B, Class A2FX, 144A | |||||||
3.340% | 08/25/47 | 408 | 398,720 | ||||
Series 2020-A, Class A2FX, 144A | |||||||
2.540% | 05/15/46 | 1,166 | 1,095,352 | ||||
7,046,670 | |||||||
Total Asset-Backed Securities (cost $342,234,407) | 338,567,031 | ||||||
Commercial Mortgage-Backed Securities — 4.4% | |||||||
Arbor Multifamily Mortgage Securities Trust, | |||||||
Series 2021-MF03, Class A3, 144A | |||||||
2.168% | 10/15/54 | 8,000 | 7,103,932 | ||||
Series 2021-MF03, Class ASB, 144A | |||||||
2.378% | 10/15/54 | 3,800 | 3,388,059 | ||||
Assurant Commercial Mortgage Trust, | |||||||
Series 2016-01A, Class AS, 144A | |||||||
3.172% | 05/15/49 | 2,021 | 1,975,581 | ||||
BANK, | |||||||
Series 2017-BNK04, Class A3 | |||||||
3.362% | 05/15/50 | 6,465 | 6,138,466 | ||||
Series 2021-BN35, Class A3 | |||||||
1.717% | 06/15/64 | 4,900 | 4,271,915 | ||||
Series 2021-BN35, Class ASB | |||||||
2.067% | 06/15/64 | 3,200 | 2,826,684 | ||||
BANK5, | |||||||
Series 2023-5YR01, Class A3 | |||||||
6.260%(cc) | 04/15/56 | 10,000 | 10,362,348 | ||||
Barclays Commercial Mortgage Securities Trust, | |||||||
Series 2018-C02, Class A4 | |||||||
4.047% | 12/15/51 | 5,400 | 5,184,537 | ||||
Series 2019-BWAY, Class D, 144A, 1 Month SOFR + 2.274% (Cap N/A, Floor 2.160%) | |||||||
7.599%(c) | 11/15/34 | 10 | 1,599 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Series 2020-BID, Class A, 144A, 1 Month SOFR + 2.254% (Cap N/A, Floor 2.140%) | |||||||
7.580%(c) | 10/15/37 | 20 | $19,900 | ||||
Benchmark Mortgage Trust, | |||||||
Series 2018-B03, Class A4 | |||||||
3.761% | 04/10/51 | 5,000 | 4,804,553 | ||||
Series 2018-B08, Class A4 | |||||||
3.963% | 01/15/52 | 8,200 | 7,807,950 | ||||
Series 2021-B24, Class A3 | |||||||
2.010% | 03/15/54 | 2,900 | 2,560,495 | ||||
Series 2023-B38, Class A3 | |||||||
5.793% | 04/15/56 | 5,000 | 5,185,164 | ||||
Series 2023-B39, Class A2 | |||||||
6.575%(cc) | 07/15/56 | 5,000 | 5,163,321 | ||||
BXP Trust, | |||||||
Series 2021-601L, Class A, 144A | |||||||
2.618% | 01/15/44 | 7,750 | 6,242,492 | ||||
Cantor Commercial Real Estate Lending, | |||||||
Series 2019-CF02, Class A3 | |||||||
2.647% | 11/15/52 | 6,789 | 6,645,844 | ||||
CD Mortgage Trust, | |||||||
Series 2016-CD02, Class A4 | |||||||
3.526%(cc) | 11/10/49 | 10 | 9,318 | ||||
Citigroup Commercial Mortgage Trust, | |||||||
Series 2014-GC23, Class A3 | |||||||
3.356% | 07/10/47 | 731 | 727,435 | ||||
Series 2015-GC33, Class A4 | |||||||
3.778% | 09/10/58 | 10 | 9,648 | ||||
Series 2016-C01, Class A3 | |||||||
2.944% | 05/10/49 | 4,970 | 4,737,333 | ||||
Series 2016-GC37, Class A3 | |||||||
3.050% | 04/10/49 | 3,560 | 3,426,536 | ||||
Series 2017-P07, Class A3 | |||||||
3.442% | 04/14/50 | 4,900 | 4,652,227 | ||||
Commercial Mortgage Trust, | |||||||
Series 2014-CR18, Class A5 | |||||||
3.828% | 07/15/47 | 3,038 | 3,024,350 | ||||
Series 2014-CR20, Class A3 | |||||||
3.326% | 11/10/47 | 4,083 | 4,050,193 | ||||
Series 2015-CR23, Class A3 | |||||||
3.230% | 05/10/48 | 21 | 20,987 | ||||
Series 2015-CR24, Class A5 | |||||||
3.696% | 08/10/48 | 10 | 9,730 | ||||
Series 2015-CR27, Class A3 | |||||||
3.349% | 10/10/48 | 5,938 | 5,751,602 | ||||
Series 2015-LC21, Class A4 | |||||||
3.708% | 07/10/48 | 10 | 9,746 | ||||
CSAIL Commercial Mortgage Trust, | |||||||
Series 2015-C04, Class A3 | |||||||
3.544% | 11/15/48 | 2,906 | 2,830,600 | ||||
Series 2017-C08, Class A3 | |||||||
3.127% | 06/15/50 | 4,787 | 4,444,950 | ||||
FHLMC Multifamily Structured Pass-Through Certificates, | |||||||
Series K055, Class X1, IO | |||||||
1.334%(cc) | 03/25/26 | 12,416 | 278,343 |
A11
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Series K068, Class A1 | |||||||
2.952% | 02/25/27 | 5 | $4,506 | ||||
GS Mortgage Securities Trust, | |||||||
Series 2015-GC28, Class A4 | |||||||
3.136% | 02/10/48 | 3,660 | 3,631,560 | ||||
Series 2015-GC32, Class A3 | |||||||
3.498% | 07/10/48 | 4,730 | 4,609,977 | ||||
Series 2015-GC32, Class A4 | |||||||
3.764% | 07/10/48 | 10 | 9,743 | ||||
Series 2016-GS03, Class A3 | |||||||
2.592% | 10/10/49 | 5,313 | 5,004,695 | ||||
Series 2016-GS04, Class A3 | |||||||
3.178% | 11/10/49 | 5,219 | 4,963,156 | ||||
Series 2018-GS09, Class A4 | |||||||
3.992%(cc) | 03/10/51 | 10 | 9,305 | ||||
Series 2020-GSA02, Class A4 | |||||||
1.721% | 12/12/53 | 6,000 | 4,801,738 | ||||
Series 2021-GSA03, Class A4 | |||||||
2.369% | 12/15/54 | 5,800 | 4,787,230 | ||||
JPMBB Commercial Mortgage Securities Trust, | |||||||
Series 2014-C25, Class A4A1 | |||||||
3.408% | 11/15/47 | 653 | 644,024 | ||||
Series 2015-C27, Class A3A1 | |||||||
2.920% | 02/15/48 | 4,719 | 4,604,606 | ||||
Series 2015-C30, Class A5 | |||||||
3.822% | 07/15/48 | 10 | 9,590 | ||||
MHC Commercial Mortgage Trust, | |||||||
Series 2021-MHC, Class C, 144A, 1 Month SOFR + 1.465% (Cap N/A, Floor 1.351%) | |||||||
6.790%(c) | 04/15/38 | 2,517 | 2,498,542 | ||||
Morgan Stanley Capital I Trust, | |||||||
Series 2016-BNK02, Class A3 | |||||||
2.791% | 11/15/49 | 3,000 | 2,811,713 | ||||
Series 2016-UB11, Class A3 | |||||||
2.531% | 08/15/49 | 10,155 | 9,551,395 | ||||
Series 2018-H04, Class A3 | |||||||
4.043% | 12/15/51 | 1,765 | 1,701,471 | ||||
Series 2019-H07, Class A2 | |||||||
2.492% | 07/15/52 | 13,500 | 13,357,744 | ||||
Series 2019-MEAD, Class D, 144A | |||||||
3.177%(cc) | 11/10/36 | 10 | 8,843 | ||||
UBS Commercial Mortgage Trust, | |||||||
Series 2017-C02, Class ASB | |||||||
3.264% | 08/15/50 | 2,248 | 2,172,696 | ||||
Series 2017-C05, Class A4 | |||||||
3.212% | 11/15/50 | 6,750 | 6,339,151 | ||||
Series 2018-C09, Class A3 | |||||||
3.854% | 03/15/51 | 2,189 | 2,070,952 | ||||
Series 2018-C14, Class A3 | |||||||
4.180% | 12/15/51 | 3,131 | 2,987,102 | ||||
Wells Fargo Commercial Mortgage Trust, | |||||||
Series 2015-C30, Class A4 | |||||||
3.664% | 09/15/58 | 10 | 9,687 | ||||
Series 2015-NXS02, Class A5 | |||||||
3.767%(cc) | 07/15/58 | 10 | 9,678 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Series 2016-NXS06, Class A3 | |||||||
2.642% | 11/15/49 | 8,000 | $7,602,538 | ||||
Series 2017-C38, Class A4 | |||||||
3.190% | 07/15/50 | 4,226 | 3,997,642 | ||||
Series 2018-C48, Class A4 | |||||||
4.037% | 01/15/52 | 6,840 | 6,617,622 | ||||
Series 2020-C58, Class A3 | |||||||
1.810% | 07/15/53 | 7,100 | 5,985,127 | ||||
Total Commercial Mortgage-Backed Securities (cost $229,468,005) | 214,467,871 | ||||||
Corporate Bonds — 10.8% | |||||||
Aerospace & Defense — 0.2% | |||||||
Boeing Co. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.196% | 02/04/26 | 2,160 | 2,022,683 | ||||
3.300% | 03/01/35 | 2,900 | 2,257,153 | ||||
3.900% | 05/01/49 | 2,570 | 1,831,370 | ||||
L3Harris Technologies, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.854% | 04/27/35 | 10 | 9,564 | ||||
RTX Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.125% | 11/16/28 | 1,270 | 1,229,213 | ||||
7,349,983 | |||||||
Agriculture — 0.4% | |||||||
Altria Group, Inc., | |||||||
Gtd. Notes | |||||||
3.400% | 02/04/41 | 2,545 | 1,868,616 | ||||
BAT Capital Corp. (United Kingdom), | |||||||
Gtd. Notes | |||||||
2.259% | 03/25/28 | 5,140 | 4,583,207 | ||||
3.557% | 08/15/27 | 105 | 99,368 | ||||
6.343% | 08/02/30 | 550 | 572,568 | ||||
BAT International Finance PLC (United Kingdom), | |||||||
Gtd. Notes | |||||||
4.448% | 03/16/28 | 1,500 | 1,453,724 | ||||
Philip Morris International, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.125% | 02/15/30 | 5,150 | 5,151,329 | ||||
5.500% | 09/07/30 | 1,732 | 1,766,804 | ||||
Reynolds American, Inc. (United Kingdom), | |||||||
Gtd. Notes | |||||||
5.700% | 08/15/35 | 930 | 904,184 | ||||
Vector Group Ltd., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 02/01/29 | 1,250 | 1,158,008 | ||||
17,557,808 | |||||||
Airlines — 0.1% | |||||||
American Airlines 2014-1 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
3.700% | 04/01/28 | 3 | 2,533 |
A12
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Airlines (cont’d.) | |||||||
American Airlines 2015-1 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
3.375% | 11/01/28 | 1,875 | $1,771,360 | ||||
American Airlines 2019-1 Class AA Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
3.150% | 08/15/33 | 20 | 17,488 | ||||
Continental Airlines 2012-2 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
4.000% | 04/29/26 | 354 | 350,115 | ||||
Southwest Airlines Co., | |||||||
Sr. Unsec’d. Notes | |||||||
5.125% | 06/15/27 | 905 | 903,522 | ||||
United Airlines 2018-1 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
3.700% | 09/01/31 | 22 | 19,744 | ||||
United Airlines, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.375% | 04/15/26 | 840 | 812,327 | ||||
4.625% | 04/15/29 | 165 | 153,499 | ||||
4,030,588 | |||||||
Apparel — 0.0% | |||||||
Wolverine World Wide, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 08/15/29(a) | 725 | 582,416 | ||||
Auto Manufacturers — 0.5% | |||||||
Daimler Truck Finance North America LLC (Germany), | |||||||
Gtd. Notes, 144A | |||||||
1.625% | 12/13/24 | 5,350 | 5,206,053 | ||||
Ford Motor Co., | |||||||
Sr. Unsec’d. Notes | |||||||
4.750% | 01/15/43 | 1,365 | 1,130,810 | ||||
Ford Motor Credit Co. LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
2.900% | 02/16/28 | 200 | 180,742 | ||||
2.900% | 02/10/29 | 1,095 | 965,722 | ||||
3.375% | 11/13/25 | 325 | 312,756 | ||||
4.125% | 08/17/27 | 690 | 654,941 | ||||
5.800% | 03/08/29(a) | 1,485 | 1,490,475 | ||||
6.950% | 03/06/26 | 775 | 789,949 | ||||
General Motors Co., | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 04/01/25 | 5 | 4,922 | ||||
6.250% | 10/02/43 | 980 | 1,001,664 | ||||
6.600% | 04/01/36 | 760 | 807,928 | ||||
General Motors Financial Co., Inc., | |||||||
Gtd. Notes | |||||||
3.950% | 04/13/24 | 2,800 | 2,796,389 | ||||
Hyundai Capital America, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.300% | 03/19/27 | 3,085 | 3,085,479 | ||||
PACCAR Financial Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
0.900% | 11/08/24 | 20 | 19,460 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Auto Manufacturers (cont’d.) | |||||||
Toyota Motor Credit Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
4.800% | 01/05/34 | 2,125 | $2,089,822 | ||||
Volkswagen Group of America Finance LLC (Germany), | |||||||
Gtd. Notes, 144A | |||||||
5.250% | 03/22/29 | 2,690 | 2,691,290 | ||||
23,228,402 | |||||||
Banks — 3.4% | |||||||
Banco Santander SA (Spain), | |||||||
Sr. Non-Preferred Notes | |||||||
2.746% | 05/28/25 | 1,000 | 966,709 | ||||
Bank of America Corp., | |||||||
Jr. Sub. Notes, Series JJ | |||||||
5.125%(ff) | 06/20/24(oo) | 1,665 | 1,666,927 | ||||
Sr. Unsec’d. Notes | |||||||
0.976%(ff) | 04/22/25 | 25 | 24,925 | ||||
2.592%(ff) | 04/29/31 | 50 | 43,106 | ||||
5.080%(ff) | 01/20/27 | 25 | 24,884 | ||||
5.288%(ff) | 04/25/34 | 5,040 | 5,026,235 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
1.898%(ff) | 07/23/31 | 2,600 | 2,134,515 | ||||
2.496%(ff) | 02/13/31 | 3,085 | 2,655,002 | ||||
3.824%(ff) | 01/20/28 | 955 | 919,766 | ||||
4.244%(ff) | 04/24/38 | 20 | 17,983 | ||||
4.271%(ff) | 07/23/29 | 510 | 491,644 | ||||
Sr. Unsec’d. Notes, Series N | |||||||
1.658%(ff) | 03/11/27 | 2,550 | 2,375,182 | ||||
Sub. Notes, MTN | |||||||
4.000% | 01/22/25 | 2,000 | 1,971,886 | ||||
4.450% | 03/03/26 | 8,455 | 8,332,540 | ||||
Bank of America NA, | |||||||
Sub. Notes | |||||||
6.000% | 10/15/36 | 410 | 435,108 | ||||
Bank of New York Mellon Corp. (The), | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
4.975%(ff) | 03/14/30(a) | 3,710 | 3,711,729 | ||||
Barclays PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 03/16/25 | 850 | 833,711 | ||||
3.932%(ff) | 05/07/25 | 585 | 583,770 | ||||
5.690%(ff) | 03/12/30 | 2,110 | 2,121,752 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
4.972%(ff) | 05/16/29 | 3,825 | 3,746,937 | ||||
BNP Paribas SA (France), | |||||||
Sr. Non-Preferred Notes, 144A | |||||||
2.219%(ff) | 06/09/26 | 2,480 | 2,384,060 | ||||
3.132%(ff) | 01/20/33 | 1,505 | 1,281,025 | ||||
Sr. Preferred Notes, 144A | |||||||
5.176%(ff) | 01/09/30 | 790 | 788,743 | ||||
CaixaBank SA (Spain), | |||||||
Sr. Non-Preferred Notes, 144A | |||||||
5.673%(ff) | 03/15/30 | 1,025 | 1,023,681 | ||||
Citigroup, Inc., | |||||||
Jr. Sub. Notes, Series V | |||||||
4.700%(ff) | 01/30/25(oo) | 1,400 | 1,369,658 |
A13
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
Sr. Unsec’d. Notes | |||||||
2.561%(ff) | 05/01/32 | 1,260 | $1,049,597 | ||||
3.200% | 10/21/26 | 1,870 | 1,781,070 | ||||
3.700% | 01/12/26 | 6,180 | 6,018,376 | ||||
3.887%(ff) | 01/10/28 | 35 | 33,744 | ||||
Sub. Notes | |||||||
4.450% | 09/29/27 | 5,975 | 5,810,658 | ||||
4.600% | 03/09/26 | 10 | 9,845 | ||||
4.750% | 05/18/46 | 820 | 729,304 | ||||
Credit Agricole SA (France), | |||||||
Sr. Non-Preferred Notes, 144A, MTN | |||||||
1.907%(ff) | 06/16/26 | 1,160 | 1,108,763 | ||||
Danske Bank A/S (Denmark), | |||||||
Sr. Non-Preferred Notes, 144A | |||||||
5.705%(ff) | 03/01/30 | 2,080 | 2,094,437 | ||||
Deutsche Bank AG (Germany), | |||||||
Sr. Non-Preferred Notes | |||||||
2.129%(ff) | 11/24/26 | 440 | 414,625 | ||||
7.146%(ff) | 07/13/27 | 800 | 821,544 | ||||
Discover Bank, | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 03/13/26 | 970 | 944,643 | ||||
Goldman Sachs Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.650%(ff) | 10/21/32 | 4,510 | 3,753,645 | ||||
3.102%(ff) | 02/24/33 | 2,730 | 2,332,525 | ||||
3.500% | 01/23/25 | 4,115 | 4,049,727 | ||||
3.750% | 02/25/26 | 1,010 | 986,258 | ||||
3.814%(ff) | 04/23/29 | 540 | 511,786 | ||||
3.850% | 01/26/27 | 2,920 | 2,830,952 | ||||
6.484%(ff) | 10/24/29(a) | 4,760 | 5,013,242 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
4.800% | 07/08/44 | 5 | 4,611 | ||||
Sub. Notes | |||||||
6.750% | 10/01/37 | 104 | 113,445 | ||||
JPMorgan Chase & Co., | |||||||
Jr. Sub. Notes, Series HH | |||||||
4.600%(ff) | 02/01/25(oo) | 1,645 | 1,621,236 | ||||
Jr. Sub. Notes, Series II | |||||||
4.000%(ff) | 04/01/25(a)(oo) | 1,045 | 1,016,560 | ||||
Sr. Unsec’d. Notes | |||||||
1.953%(ff) | 02/04/32 | 4,530 | 3,688,547 | ||||
3.782%(ff) | 02/01/28 | 695 | 669,343 | ||||
3.882%(ff) | 07/24/38 | 20 | 17,265 | ||||
3.964%(ff) | 11/15/48 | 3,250 | 2,658,457 | ||||
4.005%(ff) | 04/23/29 | 2,170 | 2,078,946 | ||||
4.452%(ff) | 12/05/29 | 3,350 | 3,266,164 | ||||
5.299%(ff) | 07/24/29 | 2,740 | 2,760,546 | ||||
5.350%(ff) | 06/01/34(a) | 20 | 20,085 | ||||
Sub. Notes | |||||||
2.956%(ff) | 05/13/31 | 15 | 13,127 | ||||
3.875% | 09/10/24 | 2,063 | 2,046,229 | ||||
KeyCorp, | |||||||
Sr. Unsec’d. Notes | |||||||
6.401%(ff) | 03/06/35 | 765 | 781,984 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.250% | 04/06/27 | 25 | $22,506 | ||||
Mitsubishi UFJ Financial Group, Inc. (Japan), | |||||||
Sr. Unsec’d. Notes | |||||||
5.242%(ff) | 04/19/29(a) | 2,760 | 2,781,928 | ||||
Morgan Stanley, | |||||||
Sr. Unsec’d. Notes | |||||||
5.123%(ff) | 02/01/29 | 8,475 | 8,456,985 | ||||
5.449%(ff) | 07/20/29 | 1,975 | 1,992,001 | ||||
6.407%(ff) | 11/01/29 | 3,030 | 3,176,507 | ||||
Sr. Unsec’d. Notes, GMTN | |||||||
2.239%(ff) | 07/21/32 | 630 | 513,748 | ||||
3.875% | 01/27/26 | 675 | 659,449 | ||||
4.431%(ff) | 01/23/30 | 515 | 498,435 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
2.188%(ff) | 04/28/26 | 25 | 24,123 | ||||
2.943%(ff) | 01/21/33 | 2,465 | 2,093,939 | ||||
3.591%(cc) | 07/22/28 | 1,255 | 1,193,066 | ||||
Sub. Notes, GMTN | |||||||
4.350% | 09/08/26 | 3,825 | 3,742,313 | ||||
PNC Financial Services Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
4.758%(ff) | 01/26/27 | 35 | 34,687 | ||||
Societe Generale SA (France), | |||||||
Sr. Non-Preferred Notes, 144A | |||||||
1.488%(ff) | 12/14/26 | 4,400 | 4,086,815 | ||||
Sr. Non-Preferred Notes, 144A, MTN | |||||||
6.447%(ff) | 01/12/27 | 1,495 | 1,508,998 | ||||
State Street Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.857%(ff) | 01/26/26 | 10 | 9,942 | ||||
Sumitomo Mitsui Financial Group, Inc. (Japan), | |||||||
Sr. Unsec’d. Notes | |||||||
5.880% | 07/13/26 | 3,945 | 4,002,725 | ||||
Sumitomo Mitsui Trust Bank Ltd. (Japan), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
5.650% | 03/09/26 | 1,040 | 1,049,597 | ||||
Texas Capital Bank NA, | |||||||
Sr. Unsec’d. Notes, 144A, 1 Month LIBOR + 4.500% | |||||||
9.942%(c) | 09/30/24 | 1,942 | 1,933,117 | ||||
Toronto-Dominion Bank (The) (Canada), | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
1.150% | 06/12/25 | 35 | 33,341 | ||||
Truist Financial Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
1.950% | 06/05/30 | 10 | 8,272 | ||||
7.161%(ff) | 10/30/29 | 1,190 | 1,269,503 | ||||
UBS Group AG (Switzerland), | |||||||
Sr. Unsec’d. Notes | |||||||
4.550% | 04/17/26 | 5,000 | 4,916,405 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
2.193%(ff) | 06/05/26 | 1,560 | 1,492,635 | ||||
3.091%(ff) | 05/14/32 | 885 | 750,037 | ||||
4.282% | 01/09/28 | 1,370 | 1,316,068 |
A14
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
Wells Fargo & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
2.188%(ff) | 04/30/26 | 50 | $48,165 | ||||
5.389%(ff) | 04/24/34 | 1,500 | 1,488,758 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
2.572%(ff) | 02/11/31 | 4,175 | 3,597,484 | ||||
5.557%(ff) | 07/25/34 | 3,130 | 3,144,546 | ||||
5.574%(ff) | 07/25/29 | 3,660 | 3,701,924 | ||||
165,530,783 | |||||||
Beverages — 0.1% | |||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium), | |||||||
Gtd. Notes | |||||||
4.900% | 02/01/46 | 630 | 598,578 | ||||
Anheuser-Busch InBev Worldwide, Inc. (Belgium), | |||||||
Gtd. Notes | |||||||
3.500% | 06/01/30 | 25 | 23,276 | ||||
4.600% | 04/15/48 | 70 | 63,734 | ||||
8.000% | 11/15/39 | 1,285 | 1,625,245 | ||||
8.200% | 01/15/39 | 250 | 324,304 | ||||
Constellation Brands, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 08/01/31 | 1,015 | 838,570 | ||||
3,473,707 | |||||||
Biotechnology — 0.0% | |||||||
Amgen, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.800% | 08/15/41 | 905 | 656,683 | ||||
Biogen, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 05/01/30 | 40 | 33,812 | ||||
690,495 | |||||||
Building Materials — 0.0% | |||||||
Masonite International Corp., | |||||||
Gtd. Notes, 144A | |||||||
3.500% | 02/15/30 | 550 | 484,000 | ||||
Standard Industries, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.375% | 07/15/30 | 760 | 682,521 | ||||
4.750% | 01/15/28 | 700 | 667,938 | ||||
1,834,459 | |||||||
Chemicals — 0.0% | |||||||
Air Products & Chemicals, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.500% | 10/15/25 | 5 | 4,742 | ||||
Dow Chemical Co. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
4.375% | 11/15/42 | 95 | 81,074 | ||||
9.400% | 05/15/39 | 155 | 208,831 | ||||
NOVA Chemicals Corp. (Canada), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.875% | 06/01/24 | 1,300 | 1,290,250 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Chemicals (cont’d.) | |||||||
Sasol Financing USA LLC (South Africa), | |||||||
Gtd. Notes | |||||||
6.500% | 09/27/28(a) | 670 | $638,175 | ||||
2,223,072 | |||||||
Commercial Services — 0.2% | |||||||
DP World Ltd. (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.375% | 09/25/26 | EUR | 693 | 721,242 | |||
ERAC USA Finance LLC, | |||||||
Gtd. Notes, 144A | |||||||
4.200% | 11/01/46 | 975 | 818,585 | ||||
5.000% | 02/15/29(a) | 1,205 | 1,207,571 | ||||
6.700% | 06/01/34 | 420 | 465,283 | ||||
7.000% | 10/15/37 | 380 | 433,593 | ||||
George Washington University (The), | |||||||
Unsec’d. Notes, Series 2014 | |||||||
4.300% | 09/15/44 | 5 | 4,465 | ||||
Georgetown University (The), | |||||||
Sr. Unsec’d. Notes | |||||||
5.115% | 04/01/53 | 695 | 704,807 | ||||
Massachusetts Institute of Technology, | |||||||
Unsec’d. Notes | |||||||
3.885% | 07/01/2116 | 1,500 | 1,140,387 | ||||
Northwestern University, | |||||||
Unsec’d. Notes, Series 2020 | |||||||
2.640% | 12/01/50 | 20 | 13,566 | ||||
PayPal Holdings, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.400% | 10/01/24 | 30 | 29,558 | ||||
RELX Capital, Inc. (United Kingdom), | |||||||
Gtd. Notes | |||||||
3.000% | 05/22/30 | 10 | 8,981 | ||||
Transurban Finance Co. Pty Ltd. (Australia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.125% | 02/02/26 | 5 | 4,874 | ||||
United Rentals North America, Inc., | |||||||
Gtd. Notes | |||||||
3.750% | 01/15/32 | 325 | 283,245 | ||||
4.875% | 01/15/28(a) | 1,190 | 1,157,296 | ||||
5.250% | 01/15/30 | 385 | 375,525 | ||||
University of Miami, | |||||||
Sr. Unsec’d. Notes, Series 2022 | |||||||
4.063% | 04/01/52 | 1,170 | 987,906 | ||||
University of Southern California, | |||||||
Sr. Unsec’d. Notes | |||||||
4.976% | 10/01/53 | 1,515 | 1,526,449 | ||||
9,883,333 | |||||||
Computers — 0.0% | |||||||
Apple, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.650% | 05/11/30 | 15 | 12,677 | ||||
3.200% | 05/13/25 | 25 | 24,493 | ||||
37,170 |
A15
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Distribution/Wholesale — 0.0% | |||||||
Ritchie Bros Holdings, Inc. (Canada), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.750% | 03/15/28 | 75 | $76,313 | ||||
Diversified Financial Services — 0.3% | |||||||
BOC Aviation USA Corp. (China), | |||||||
Gtd. Notes, 144A, MTN | |||||||
1.625% | 04/29/24 | 670 | 667,976 | ||||
Cantor Fitzgerald LP, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.500% | 04/14/27 | 4,985 | 4,757,692 | ||||
Capital One Financial Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 05/11/27 | 20 | 19,127 | ||||
CDP Financial, Inc. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
3.150% | 07/24/24 | 480 | 476,271 | ||||
Discover Financial Services, | |||||||
Sr. Unsec’d. Notes | |||||||
3.750% | 03/04/25 | 5 | 4,909 | ||||
Jefferies Financial Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.875% | 07/21/28 | 2,600 | 2,649,680 | ||||
Nomura Holdings, Inc. (Japan), | |||||||
Sr. Unsec’d. Notes | |||||||
2.608% | 07/14/31 | 2,055 | 1,703,870 | ||||
6.070% | 07/12/28 | 3,355 | 3,450,882 | ||||
Private Export Funding Corp., | |||||||
U.S. Gov’t. Gtd. Notes, Series NN | |||||||
3.250% | 06/15/25 | 330 | 323,048 | ||||
14,053,455 | |||||||
Electric — 1.1% | |||||||
Abu Dhabi National Energy Co. PJSC (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.000% | 04/29/28 | 525 | 467,578 | ||||
AEP Texas, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.950% | 06/01/28 | 2,910 | 2,777,636 | ||||
Alfa Desarrollo SpA (Chile), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.550% | 09/27/51 | 626 | 476,671 | ||||
Appalachian Power Co., | |||||||
Sr. Unsec’d. Notes | |||||||
4.450% | 06/01/45 | 10 | 8,243 | ||||
Baltimore Gas & Electric Co., | |||||||
Sr. Unsec’d. Notes | |||||||
6.350% | 10/01/36 | 550 | 596,085 | ||||
Berkshire Hathaway Energy Co., | |||||||
Sr. Unsec’d. Notes | |||||||
3.800% | 07/15/48 | 15 | 11,494 | ||||
5.950% | 05/15/37 | 305 | 318,312 | ||||
Calpine Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.750% | 03/01/31 | 2,000 | 1,755,188 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
CenterPoint Energy Houston Electric LLC, | |||||||
General Ref. Mortgage, Series K2 | |||||||
6.950% | 03/15/33 | 590 | $672,868 | ||||
Comision Federal de Electricidad (Mexico), | |||||||
Gtd. Notes, 144A | |||||||
4.688% | 05/15/29 | 1,400 | 1,315,125 | ||||
Commonwealth Edison Co., | |||||||
First Mortgage, Series 123 | |||||||
3.750% | 08/15/47 | 1,610 | 1,248,549 | ||||
Connecticut Light & Power Co. (The), | |||||||
First Mortgage, Series A | |||||||
2.050% | 07/01/31 | 3,255 | 2,667,276 | ||||
Consolidated Edison Co. of New York, Inc., | |||||||
Sr. Unsec’d. Notes, Series 09-C | |||||||
5.500% | 12/01/39 | 220 | 222,251 | ||||
Duke Energy Carolinas LLC, | |||||||
First Mortgage | |||||||
4.950% | 01/15/33 | 4,425 | 4,401,277 | ||||
6.050% | 04/15/38 | 550 | 583,104 | ||||
First Ref. Mortgage | |||||||
4.000% | 09/30/42 | 570 | 475,077 | ||||
El Paso Electric Co., | |||||||
Sr. Unsec’d. Notes | |||||||
6.000% | 05/15/35 | 670 | 674,604 | ||||
Enel Finance International NV (Italy), | |||||||
Gtd. Notes, 144A | |||||||
2.250% | 07/12/31 | 2,140 | 1,729,502 | ||||
Eskom Holdings SOC Ltd. (South Africa), | |||||||
Gov’t. Gtd. Notes, 144A, MTN | |||||||
6.350% | 08/10/28 | 700 | 670,250 | ||||
Evergy Kansas Central, Inc., | |||||||
First Mortgage | |||||||
5.700% | 03/15/53 | 1,310 | 1,329,254 | ||||
Eversource Energy, | |||||||
Sr. Unsec’d. Notes, Series M | |||||||
3.300% | 01/15/28 | 5 | 4,674 | ||||
Exelon Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 04/15/26 | 25 | 24,178 | ||||
FirstEnergy Corp., | |||||||
Sr. Unsec’d. Notes, Series C | |||||||
7.375% | 11/15/31 | 10 | 11,750 | ||||
FirstEnergy Pennsylvania Electric Co., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.200% | 04/01/28 | 900 | 901,232 | ||||
FirstEnergy Transmission LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.350% | 01/15/25 | 10 | 9,877 | ||||
Florida Power & Light Co., | |||||||
First Mortgage | |||||||
5.100% | 04/01/33 | 2,840 | 2,862,262 | ||||
5.950% | 10/01/33 | 295 | 312,396 | ||||
Iberdrola International BV (Spain), | |||||||
Gtd. Notes | |||||||
6.750% | 09/15/33 | 145 | 155,349 |
A16
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
Israel Electric Corp. Ltd. (Israel), | |||||||
Sr. Sec’d. Notes, 144A, GMTN | |||||||
4.250% | 08/14/28 | 470 | $437,247 | ||||
Kentucky Utilities Co., | |||||||
First Mortgage | |||||||
4.375% | 10/01/45 | 10 | 8,583 | ||||
Monongahela Power Co., | |||||||
First Mortgage, 144A | |||||||
4.100% | 04/15/24 | 2,170 | 2,167,748 | ||||
NextEra Energy Capital Holdings, Inc., | |||||||
Gtd. Notes | |||||||
2.440% | 01/15/32 | 25 | 20,675 | ||||
4.900% | 02/28/28 | 3,800 | 3,787,863 | ||||
6.051% | 03/01/25 | 780 | 783,008 | ||||
Northern States Power Co., | |||||||
First Mortgage | |||||||
3.600% | 09/15/47 | 1,580 | 1,194,906 | ||||
NRG Energy, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 02/15/31 | 75 | 64,750 | ||||
3.875% | 02/15/32 | 200 | 171,603 | ||||
Sr. Sec’d. Notes, 144A | |||||||
2.000% | 12/02/25 | 320 | 300,397 | ||||
2.450% | 12/02/27 | 1,395 | 1,254,747 | ||||
Pacific Gas & Electric Co., | |||||||
First Mortgage | |||||||
2.100% | 08/01/27 | 10 | 9,005 | ||||
3.950% | 12/01/47 | 2,000 | 1,497,452 | ||||
4.950% | 07/01/50 | 1,345 | 1,158,663 | ||||
PacifiCorp, | |||||||
First Mortgage | |||||||
5.350% | 12/01/53(h) | 3,010 | 2,801,004 | ||||
PECO Energy Co., | |||||||
First Mortgage | |||||||
2.800% | 06/15/50 | 1,110 | 724,194 | ||||
Public Service Electric & Gas Co., | |||||||
First Mortgage, MTN | |||||||
2.050% | 08/01/50 | 1,005 | 570,099 | ||||
3.700% | 05/01/28 | 1,280 | 1,229,557 | ||||
4.900% | 12/15/32 | 1,050 | 1,044,652 | ||||
Sr. Sec’d. Notes, MTN | |||||||
5.800% | 05/01/37 | 535 | 557,416 | ||||
Public Service Enterprise Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.600% | 08/15/30 | 710 | 573,421 | ||||
San Diego Gas & Electric Co., | |||||||
First Mortgage | |||||||
4.150% | 05/15/48 | 1,400 | 1,168,175 | ||||
Sempra, | |||||||
Sr. Unsec’d. Notes | |||||||
3.300% | 04/01/25 | 20 | 19,564 | ||||
Southern California Edison Co., | |||||||
First Mortgage | |||||||
5.300% | 03/01/28 | 1,670 | 1,689,091 | ||||
First Ref. Mortgage | |||||||
4.000% | 04/01/47 | 580 | 459,418 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
First Ref. Mortgage, Series C | |||||||
3.600% | 02/01/45 | 860 | $643,764 | ||||
Vistra Operations Co. LLC, | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 07/31/27 | 725 | 702,504 | ||||
Sr. Sec’d. Notes, 144A | |||||||
3.550% | 07/15/24 | 2,145 | 2,128,062 | ||||
Xcel Energy, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.800% | 09/15/41 | 480 | 411,936 | ||||
54,261,566 | |||||||
Engineering & Construction — 0.1% | |||||||
AECOM, | |||||||
Gtd. Notes | |||||||
5.125% | 03/15/27 | 575 | 565,309 | ||||
Mexico City Airport Trust (Mexico), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 04/30/28 | 919 | 861,850 | ||||
4.250% | 10/31/26 | 882 | 851,818 | ||||
5.500% | 07/31/47 | 800 | 675,250 | ||||
2,954,227 | |||||||
Entertainment — 0.1% | |||||||
Caesars Entertainment, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.000% | 02/15/30 | 600 | 615,952 | ||||
International Game Technology PLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.500% | 02/15/25 | 750 | 750,262 | ||||
Warnermedia Holdings, Inc., | |||||||
Gtd. Notes | |||||||
5.050% | 03/15/42(a) | 900 | 772,092 | ||||
5.141% | 03/15/52 | 1,210 | 1,004,770 | ||||
3,143,076 | |||||||
Environmental Control — 0.0% | |||||||
Republic Services, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.500% | 08/15/24 | 15 | 14,825 | ||||
Waste Connections, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.200% | 06/01/32 | 20 | 17,536 | ||||
32,361 | |||||||
Foods — 0.1% | |||||||
Bimbo Bakeries USA, Inc. (Mexico), | |||||||
Gtd. Notes, 144A | |||||||
6.050% | 01/15/29(a) | 1,265 | 1,306,214 | ||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., | |||||||
Gtd. Notes | |||||||
5.125% | 02/01/28 | 2,000 | 1,970,144 | ||||
Kraft Heinz Foods Co., | |||||||
Gtd. Notes | |||||||
6.500% | 02/09/40 | 1,420 | 1,544,919 |
A17
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Foods (cont’d.) | |||||||
Lamb Weston Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.125% | 01/31/30 | 275 | $250,901 | ||||
4.375% | 01/31/32 | 850 | 761,713 | ||||
Mars, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.375% | 07/16/40 | 660 | 459,428 | ||||
6,293,319 | |||||||
Gas — 0.1% | |||||||
NiSource, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.700% | 02/15/31 | 915 | 731,394 | ||||
3.490% | 05/15/27 | 1,425 | 1,359,300 | ||||
3.600% | 05/01/30 | 1,270 | 1,170,903 | ||||
3.950% | 03/30/48 | 15 | 11,712 | ||||
Southern Co. Gas Capital Corp., | |||||||
Gtd. Notes | |||||||
5.150% | 09/15/32 | 30 | 30,135 | ||||
3,303,444 | |||||||
Healthcare-Products — 0.0% | |||||||
Abbott Laboratories, | |||||||
Sr. Unsec’d. Notes | |||||||
1.150% | 01/30/28 | 20 | 17,674 | ||||
Medline Borrower LP, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 04/01/29 | 675 | 614,415 | ||||
632,089 | |||||||
Healthcare-Services — 0.3% | |||||||
Aetna, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
6.625% | 06/15/36 | 515 | 566,068 | ||||
AHS Hospital Corp., | |||||||
Unsec’d. Notes | |||||||
5.024% | 07/01/45 | 5 | 4,862 | ||||
Banner Health, | |||||||
Unsec’d. Notes | |||||||
1.897% | 01/01/31 | 5 | 4,116 | ||||
Centra Health, Inc., | |||||||
Unsec’d. Notes | |||||||
4.700% | 01/01/48 | 25 | 21,942 | ||||
CommonSpirit Health, | |||||||
Sr. Sec’d. Notes | |||||||
2.760% | 10/01/24(a) | 15 | 14,769 | ||||
2.782% | 10/01/30 | 5 | 4,338 | ||||
5.318% | 12/01/34 | 4,270 | 4,274,680 | ||||
Elevance Health, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.625% | 05/15/42 | 390 | 355,071 | ||||
4.650% | 01/15/43 | 15 | 13,654 | ||||
Hackensack Meridian Health, Inc., | |||||||
Sr. Sec’d. Notes | |||||||
4.211% | 07/01/48 | 20 | 17,389 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Healthcare-Services (cont’d.) | |||||||
HCA, Inc., | |||||||
Gtd. Notes | |||||||
4.125% | 06/15/29 | 20 | $18,927 | ||||
4.375% | 03/15/42 | 10 | 8,386 | ||||
5.375% | 02/01/25 | 305 | 304,170 | ||||
Gtd. Notes, MTN | |||||||
7.750% | 07/15/36 | 450 | 514,308 | ||||
Humana, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.700% | 03/23/29 | 15 | 14,121 | ||||
Indiana University Health, Inc. Obligated Group, | |||||||
Sec’d. Notes | |||||||
3.970% | 11/01/48 | 15 | 12,631 | ||||
Kaiser Foundation Hospitals, | |||||||
Gtd. Notes | |||||||
4.150% | 05/01/47 | 940 | 809,476 | ||||
MedStar Health, Inc., | |||||||
Sec’d. Notes, Series 20A | |||||||
3.626% | 08/15/49 | 20 | 15,467 | ||||
Providence St. Joseph Health Obligated Group, | |||||||
Unsec’d. Notes, Series 19A | |||||||
2.532% | 10/01/29 | 765 | 669,793 | ||||
Sutter Health, | |||||||
Unsec’d. Notes | |||||||
5.164% | 08/15/33 | 1,732 | 1,745,948 | ||||
Tenet Healthcare Corp., | |||||||
Sr. Sec’d. Notes | |||||||
4.375% | 01/15/30 | 625 | 577,929 | ||||
Trinity Health Corp., | |||||||
Sec’d. Notes | |||||||
4.125% | 12/01/45 | 5 | 4,347 | ||||
UnitedHealth Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.000% | 05/15/30 | 10 | 8,499 | ||||
3.250% | 05/15/51 | 1,000 | 719,013 | ||||
3.750% | 07/15/25 | 5 | 4,916 | ||||
5.200% | 04/15/63(h) | 2,840 | 2,756,649 | ||||
5.500% | 04/15/64 | 1,680 | 1,708,820 | ||||
6.050% | 02/15/63 | 915 | 1,007,512 | ||||
16,177,801 | |||||||
Home Builders — 0.0% | |||||||
KB Home, | |||||||
Gtd. Notes | |||||||
4.000% | 06/15/31(a) | 575 | 509,782 | ||||
Taylor Morrison Communities, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.875% | 06/15/27 | 525 | 524,928 | ||||
1,034,710 | |||||||
Insurance — 0.2% | |||||||
American International Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 06/30/30 | 30 | 27,449 |
A18
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Insurance (cont’d.) | |||||||
Aon Corp./Aon Global Holdings PLC, | |||||||
Gtd. Notes | |||||||
5.000% | 09/12/32 | 25 | $24,775 | ||||
Aon Global Ltd., | |||||||
Gtd. Notes | |||||||
3.875% | 12/15/25 | 5 | 4,894 | ||||
Berkshire Hathaway Finance Corp., | |||||||
Gtd. Notes | |||||||
3.850% | 03/15/52 | 50 | 40,431 | ||||
Corebridge Financial, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.400% | 04/05/52 | 35 | 28,586 | ||||
Fairfax Financial Holdings Ltd. (Canada), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.000% | 12/07/33 | 3,785 | 3,837,074 | ||||
Liberty Mutual Group, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.951% | 10/15/50 | 1,215 | 916,154 | ||||
Lincoln National Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
6.300% | 10/09/37 | 772 | 794,488 | ||||
Markel Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.150% | 09/17/50 | 410 | 325,253 | ||||
5.000% | 03/30/43 | 200 | 182,123 | ||||
Marsh & McLennan Cos., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 11/15/30 | 10 | 8,521 | ||||
3.500% | 06/03/24 | 10 | 9,962 | ||||
4.350% | 01/30/47 | 5 | 4,269 | ||||
New York Life Insurance Co., | |||||||
Sub. Notes, 144A | |||||||
6.750% | 11/15/39 | 660 | 753,173 | ||||
Principal Financial Group, Inc., | |||||||
Gtd. Notes | |||||||
2.125% | 06/15/30 | 20 | 16,771 | ||||
3.400% | 05/15/25 | 10 | 9,777 | ||||
4.625% | 09/15/42 | 130 | 118,272 | ||||
Teachers Insurance & Annuity Association of America, | |||||||
Sub. Notes, 144A | |||||||
4.270% | 05/15/47 | 575 | 476,732 | ||||
6.850% | 12/16/39 | 124 | 140,942 | ||||
7,719,646 | |||||||
Internet — 0.0% | |||||||
Amazon.com, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.800% | 08/22/24 | 5 | 4,948 | ||||
3.875% | 08/22/37 | 10 | 9,028 | ||||
Booking Holdings, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 03/15/25 | 5 | 4,919 | ||||
18,895 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Iron/Steel — 0.0% | |||||||
Nucor Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.700% | 06/01/30 | 10 | $8,879 | ||||
3.950% | 05/01/28 | 15 | 14,513 | ||||
23,392 | |||||||
Lodging — 0.0% | |||||||
Marriott International, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.900% | 04/15/29(a) | 555 | 550,936 | ||||
5.000% | 10/15/27 | 15 | 14,962 | ||||
Sands China Ltd. (Macau), | |||||||
Sr. Unsec’d. Notes | |||||||
5.400% | 08/08/28 | 700 | 686,693 | ||||
1,252,591 | |||||||
Machinery-Diversified — 0.0% | |||||||
John Deere Capital Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.125% | 03/07/25 | 25 | 24,301 | ||||
4.150% | 09/15/27 | 25 | 24,562 | ||||
48,863 | |||||||
Media — 0.3% | |||||||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.125% | 05/01/27 | 125 | 119,067 | ||||
5.500% | 05/01/26 | 625 | 615,914 | ||||
Charter Communications Operating LLC/Charter Communications Operating Capital, | |||||||
Sr. Sec’d. Notes | |||||||
2.250% | 01/15/29 | 2,870 | 2,442,121 | ||||
3.900% | 06/01/52 | 580 | 369,191 | ||||
4.908% | 07/23/25 | 10 | 9,882 | ||||
5.375% | 04/01/38 | 1,950 | 1,696,933 | ||||
6.384% | 10/23/35 | 875 | 865,464 | ||||
6.484% | 10/23/45 | 1,386 | 1,286,047 | ||||
Comcast Corp., | |||||||
Gtd. Notes | |||||||
3.950% | 10/15/25 | 275 | 270,493 | ||||
Cox Communications, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.600% | 06/15/31 | 5,275 | 4,381,400 | ||||
CSC Holdings LLC, | |||||||
Gtd. Notes, 144A | |||||||
4.500% | 11/15/31(a) | 1,400 | 990,755 | ||||
Thomson Reuters Corp. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
3.350% | 05/15/26 | 5 | 4,821 | ||||
Time Warner Cable LLC, | |||||||
Sr. Sec’d. Notes | |||||||
5.500% | 09/01/41 | 360 | 300,155 | ||||
Walt Disney Co. (The), | |||||||
Gtd. Notes | |||||||
3.800% | 03/22/30 | 50 | 47,605 | ||||
13,399,848 |
A19
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Mining — 0.1% | |||||||
Freeport Indonesia PT (Indonesia), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
4.763% | 04/14/27 | 215 | $209,732 | ||||
Newmont Corp., | |||||||
Gtd. Notes | |||||||
2.800% | 10/01/29 | 2,750 | 2,469,219 | ||||
Newmont Corp./Newcrest Finance Pty Ltd., | |||||||
Gtd. Notes, 144A | |||||||
5.350% | 03/15/34(a) | 1,280 | 1,287,698 | ||||
Yamana Gold, Inc. (Canada), | |||||||
Gtd. Notes | |||||||
2.630% | 08/15/31 | 3,050 | 2,529,347 | ||||
6,495,996 | |||||||
Miscellaneous Manufacturing — 0.0% | |||||||
Amsted Industries, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.625% | 07/01/27 | 1,200 | 1,182,685 | ||||
Multi-National — 0.0% | |||||||
Corp. Andina de Fomento (Supranational Bank), | |||||||
Sr. Unsec’d. Notes | |||||||
5.000% | 01/24/29 | 1,545 | 1,540,659 | ||||
Office/Business Equipment — 0.0% | |||||||
CDW LLC/CDW Finance Corp., | |||||||
Gtd. Notes | |||||||
2.670% | 12/01/26 | 1,810 | 1,684,648 | ||||
5.500% | 12/01/24 | 700 | 697,572 | ||||
2,382,220 | |||||||
Oil & Gas — 0.3% | |||||||
Aker BP ASA (Norway), | |||||||
Gtd. Notes, 144A | |||||||
3.100% | 07/15/31 | 755 | 644,484 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
3.750% | 01/15/30 | 3,250 | 2,966,231 | ||||
BP Capital Markets America, Inc., | |||||||
Gtd. Notes | |||||||
3.410% | 02/11/26 | 25 | 24,306 | ||||
Canadian Natural Resources Ltd. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 07/15/30 | 20 | 17,560 | ||||
Cenovus Energy, Inc. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
5.400% | 06/15/47 | 714 | 668,949 | ||||
Chevron Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
1.995% | 05/11/27 | 10 | 9,248 | ||||
Civitas Resources, Inc., | |||||||
Gtd. Notes, 144A | |||||||
8.625% | 11/01/30 | 150 | 161,031 | ||||
Devon Energy Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.600% | 07/15/41 | 300 | 289,362 | ||||
Ecopetrol SA (Colombia), | |||||||
Sr. Unsec’d. Notes | |||||||
6.875% | 04/29/30 | 637 | 617,565 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Oil & Gas (cont’d.) | |||||||
8.625% | 01/19/29 | 2,105 | $2,222,154 | ||||
Endeavor Energy Resources LP/EER Finance, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.750% | 01/30/28 | 500 | 503,846 | ||||
Energean Israel Finance Ltd. (Israel), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.375% | 03/30/28 | 123 | 112,507 | ||||
Hilcorp Energy I LP/Hilcorp Finance Co., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.000% | 04/15/30 | 300 | 293,523 | ||||
6.250% | 04/15/32 | 500 | 493,392 | ||||
Korea National Oil Corp. (South Korea), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 04/03/26 | 510 | 505,170 | ||||
4.875% | 04/03/28 | 530 | 527,631 | ||||
Petroleos Mexicanos (Mexico), | |||||||
Gtd. Notes | |||||||
5.950% | 01/28/31 | 2,146 | 1,719,804 | ||||
6.490% | 01/23/27 | 471 | 443,399 | ||||
6.500% | 03/13/27 | 330 | 310,203 | ||||
Gtd. Notes, MTN | |||||||
6.750% | 09/21/47 | 186 | 122,946 | ||||
6.875% | 08/04/26 | 670 | 650,068 | ||||
QatarEnergy (Qatar), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.375% | 09/12/26 | 600 | 550,125 | ||||
2.250% | 07/12/31 | 820 | 687,263 | ||||
Santos Finance Ltd. (Australia), | |||||||
Gtd. Notes, 144A | |||||||
6.875% | 09/19/33 | 1,015 | 1,069,880 | ||||
Southwestern Energy Co., | |||||||
Gtd. Notes | |||||||
4.750% | 02/01/32 | 500 | 460,319 | ||||
TotalEnergies Capital International SA (France), | |||||||
Gtd. Notes | |||||||
2.434% | 01/10/25 | 30 | 29,370 | ||||
16,100,336 | |||||||
Packaging & Containers — 0.1% | |||||||
Ball Corp., | |||||||
Gtd. Notes | |||||||
3.125% | 09/15/31(a) | 425 | 362,160 | ||||
6.000% | 06/15/29 | 1,150 | 1,160,664 | ||||
Berry Global, Inc., | |||||||
Sr. Sec’d. Notes | |||||||
1.570% | 01/15/26 | 5,135 | 4,807,492 | ||||
Graphic Packaging International LLC, | |||||||
Gtd. Notes | |||||||
4.125% | 08/15/24 | 625 | 619,697 | ||||
Sealed Air Corp./Sealed Air Corp. US, | |||||||
Gtd. Notes, 144A | |||||||
6.125% | 02/01/28 | 125 | 125,361 | ||||
7,075,374 |
A20
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pharmaceuticals — 0.5% | |||||||
AbbVie, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 11/21/26 | 10 | $9,520 | ||||
3.600% | 05/14/25 | 10 | 9,818 | ||||
3.800% | 03/15/25 | 1,175 | 1,158,534 | ||||
4.050% | 11/21/39 | 250 | 222,615 | ||||
4.550% | 03/15/35 | 2,190 | 2,113,346 | ||||
4.700% | 05/14/45 | 735 | 686,551 | ||||
Bayer US Finance II LLC (Germany), | |||||||
Gtd. Notes, 144A | |||||||
4.250% | 12/15/25 | 1,600 | 1,560,563 | ||||
Becton, Dickinson & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
2.823% | 05/20/30 | 20 | 17,655 | ||||
3.734% | 12/15/24 | 130 | 128,314 | ||||
Cardinal Health, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.410% | 06/15/27 | 15 | 14,250 | ||||
3.750% | 09/15/25 | 5 | 4,885 | ||||
Cigna Group (The), | |||||||
Gtd. Notes | |||||||
4.375% | 10/15/28 | 8,000 | 7,806,856 | ||||
CVS Health Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.250% | 08/15/29 | 50 | 45,870 | ||||
4.780% | 03/25/38 | 3,750 | 3,464,935 | ||||
5.875% | 06/01/53(a) | 200 | 203,152 | ||||
Eli Lilly & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
4.875% | 02/27/53 | 340 | 332,096 | ||||
Mylan, Inc., | |||||||
Gtd. Notes | |||||||
5.200% | 04/15/48 | 1,375 | 1,139,828 | ||||
5.400% | 11/29/43 | 845 | 741,352 | ||||
Organon & Co./Organon Foreign Debt Co-Issuer BV, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.125% | 04/30/28 | 900 | 838,419 | ||||
Viatris, Inc., | |||||||
Gtd. Notes | |||||||
3.850% | 06/22/40 | 470 | 347,032 | ||||
Zoetis, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.000% | 05/15/30 | 2,695 | 2,270,416 | ||||
23,116,007 | |||||||
Pipelines — 0.8% | |||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.750% | 01/15/28 | 750 | 738,159 | ||||
Boardwalk Pipelines LP, | |||||||
Gtd. Notes | |||||||
3.400% | 02/15/31 | 1,625 | 1,441,420 | ||||
4.950% | 12/15/24 | 5 | 4,968 | ||||
DCP Midstream Operating LP, | |||||||
Gtd. Notes | |||||||
5.125% | 05/15/29 | 5,240 | 5,223,807 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pipelines (cont’d.) | |||||||
Eastern Gas Transmission & Storage, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.600% | 12/15/44 | 65 | $55,885 | ||||
EIG Pearl Holdings Sarl (Saudi Arabia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.545% | 08/31/36 | 1,429 | 1,220,455 | ||||
Energy Transfer LP, | |||||||
Sr. Unsec’d. Notes | |||||||
4.950% | 06/15/28 | 1,115 | 1,105,294 | ||||
5.250% | 04/15/29 | 10 | 10,020 | ||||
5.550% | 05/15/34 | 1,495 | 1,499,339 | ||||
6.100% | 02/15/42 | 25 | 25,237 | ||||
6.125% | 12/15/45 | 180 | 181,113 | ||||
6.250% | 04/15/49 | 1,900 | 1,951,003 | ||||
6.400% | 12/01/30 | 480 | 506,344 | ||||
6.550% | 12/01/33 | 1,265 | 1,355,595 | ||||
EQM Midstream Partners LP, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
7.500% | 06/01/27 | 50 | 51,261 | ||||
7.500% | 06/01/30(a) | 50 | 53,452 | ||||
Florida Gas Transmission Co. LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.350% | 07/15/25 | 5 | 4,912 | ||||
Greensaif Pipelines Bidco Sarl (Saudi Arabia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.129% | 02/23/38 | 550 | 559,460 | ||||
6.510% | 02/23/42 | 715 | 743,377 | ||||
Kinder Morgan, Inc., | |||||||
Gtd. Notes | |||||||
3.600% | 02/15/51 | 2,260 | 1,578,604 | ||||
MPLX LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 08/15/30 | 595 | 512,022 | ||||
4.000% | 02/15/25 | 1,430 | 1,409,518 | ||||
4.000% | 03/15/28 | 1,385 | 1,333,598 | ||||
4.875% | 06/01/25 | 3,250 | 3,223,439 | ||||
5.200% | 03/01/47 | 40 | 36,621 | ||||
5.500% | 02/15/49 | 395 | 376,562 | ||||
ONEOK Partners LP, | |||||||
Gtd. Notes | |||||||
6.650% | 10/01/36 | 145 | 155,985 | ||||
ONEOK, Inc., | |||||||
Gtd. Notes | |||||||
3.100% | 03/15/30 | 5,205 | 4,659,136 | ||||
4.500% | 03/15/50 | 295 | 240,214 | ||||
6.050% | 09/01/33 | 2,160 | 2,254,931 | ||||
Plains All American Pipeline LP/PAA Finance Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.600% | 11/01/24 | 5 | 4,935 | ||||
Spectra Energy Partners LP, | |||||||
Gtd. Notes | |||||||
3.375% | 10/15/26 | 15 | 14,366 | ||||
Targa Resources Corp., | |||||||
Gtd. Notes | |||||||
4.200% | 02/01/33 | 755 | 689,129 | ||||
6.125% | 03/15/33 | 1,895 | 1,977,797 |
A21
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pipelines (cont’d.) | |||||||
Venture Global Calcasieu Pass LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 08/15/29 | 115 | $103,530 | ||||
4.125% | 08/15/31 | 90 | 80,149 | ||||
Western Midstream Operating LP, | |||||||
Sr. Unsec’d. Notes | |||||||
5.300% | 03/01/48 | 125 | 108,939 | ||||
Williams Cos., Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
4.900% | 01/15/45 | 1,000 | 894,004 | ||||
5.100% | 09/15/45 | 500 | 463,385 | ||||
5.150% | 03/15/34(a) | 510 | 505,562 | ||||
8.750% | 03/15/32 | 1,130 | 1,359,687 | ||||
38,713,214 | |||||||
Real Estate Investment Trusts (REITs) — 0.5% | |||||||
Alexandria Real Estate Equities, Inc., | |||||||
Gtd. Notes | |||||||
2.000% | 05/18/32 | 1,815 | 1,423,520 | ||||
2.950% | 03/15/34 | 480 | 394,902 | ||||
5.250% | 05/15/36 | 2,445 | 2,397,817 | ||||
American Tower Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
1.450% | 09/15/26 | 30 | 27,373 | ||||
3.600% | 01/15/28 | 5,420 | 5,121,691 | ||||
Brixmor Operating Partnership LP, | |||||||
Sr. Unsec’d. Notes | |||||||
3.850% | 02/01/25 | 5 | 4,914 | ||||
3.900% | 03/15/27 | 5 | 4,798 | ||||
4.050% | 07/01/30 | 5 | 4,645 | ||||
COPT Defense Properties LP, | |||||||
Gtd. Notes | |||||||
2.900% | 12/01/33(a) | 1,345 | 1,055,290 | ||||
Crown Castle, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.900% | 03/15/27 | 10 | 9,359 | ||||
3.700% | 06/15/26 | 10 | 9,659 | ||||
4.750% | 05/15/47 | 5 | 4,277 | ||||
Essex Portfolio LP, | |||||||
Gtd. Notes | |||||||
2.650% | 03/15/32 | 15 | 12,404 | ||||
3.000% | 01/15/30 | 5 | 4,436 | ||||
GLP Capital LP/GLP Financing II, Inc., | |||||||
Gtd. Notes | |||||||
5.375% | 04/15/26 | 1,050 | 1,041,352 | ||||
Healthpeak OP LLC, | |||||||
Gtd. Notes | |||||||
2.125% | 12/01/28 | 5 | 4,398 | ||||
2.875% | 01/15/31 | 5 | 4,297 | ||||
Kimco Realty OP LLC, | |||||||
Gtd. Notes | |||||||
2.700% | 10/01/30 | 3,480 | 3,005,827 | ||||
MPT Operating Partnership LP/MPT Finance Corp., | |||||||
Gtd. Notes | |||||||
3.500% | 03/15/31(a) | 950 | 658,558 | ||||
5.000% | 10/15/27(a) | 400 | 337,654 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Real Estate Investment Trusts (REITs) (cont’d.) | |||||||
Prologis LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.125% | 04/15/27 | 5 | $4,607 | ||||
Public Storage Operating Co., | |||||||
Gtd. Notes | |||||||
1.950% | 11/09/28 | 10 | 8,836 | ||||
2.250% | 11/09/31 | 1,288 | 1,068,855 | ||||
Realty Income Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.625% | 11/01/25 | 20 | 19,807 | ||||
Simon Property Group LP, | |||||||
Sr. Unsec’d. Notes | |||||||
3.375% | 10/01/24 | 5 | 4,943 | ||||
Sun Communities Operating LP, | |||||||
Gtd. Notes | |||||||
2.700% | 07/15/31 | 3,000 | 2,473,165 | ||||
5.500% | 01/15/29 | 3,445 | 3,439,251 | ||||
WP Carey, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.850% | 07/15/29 | 20 | 18,665 | ||||
22,565,300 | |||||||
Retail — 0.1% | |||||||
1011778 BC ULC/New Red Finance, Inc. (Canada), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 01/15/28 | 525 | 493,500 | ||||
AutoZone, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.650% | 01/15/31 | 770 | 621,635 | ||||
3.125% | 04/21/26 | 5 | 4,810 | ||||
3.750% | 06/01/27 | 15 | 14,477 | ||||
Dollar Tree, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 05/15/25 | 4,705 | 4,627,059 | ||||
Gap, Inc. (The), | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 10/01/29 | 275 | 240,909 | ||||
3.875% | 10/01/31 | 250 | 211,451 | ||||
Home Depot, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.500% | 04/15/27 | 50 | 46,868 | ||||
Lowe’s Cos., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.000% | 04/15/33 | 30 | 29,891 | ||||
O’Reilly Automotive, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.600% | 09/01/27 | 20 | 19,114 | ||||
TJX Cos., Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
1.600% | 05/15/31 | 5 | 4,054 | ||||
Walmart, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.900% | 09/09/25 | 20 | 19,717 | ||||
6,333,485 |
A22
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Semiconductors — 0.1% | |||||||
Broadcom, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.137% | 11/15/35 | 320 | $258,672 | ||||
3.187% | 11/15/36 | 4,445 | 3,533,467 | ||||
Intel Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.625% | 02/10/43 | 385 | 398,242 | ||||
NXP BV/NXP Funding LLC/NXP USA, Inc. (China), | |||||||
Gtd. Notes | |||||||
2.650% | 02/15/32 | 25 | 20,738 | ||||
3.150% | 05/01/27 | 5 | 4,718 | ||||
QUALCOMM, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.150% | 05/20/30 | 25 | 21,718 | ||||
3.250% | 05/20/27 | 12 | 11,502 | ||||
Texas Instruments, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.750% | 05/04/30 | 15 | 12,670 | ||||
4,261,727 | |||||||
Software — 0.2% | |||||||
Fiserv, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.200% | 07/01/26 | 10 | 9,585 | ||||
5.450% | 03/02/28 | 2,560 | 2,592,556 | ||||
Microsoft Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.525% | 06/01/50 | 1,425 | 938,359 | ||||
2.921% | 03/17/52 | 60 | 42,426 | ||||
Oracle Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.300% | 07/08/34 | 2,370 | 2,186,246 | ||||
Roper Technologies, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 09/15/29 | 5 | 4,504 | ||||
3.800% | 12/15/26 | 15 | 14,540 | ||||
ServiceNow, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.400% | 09/01/30 | 2,055 | 1,662,581 | ||||
7,450,797 | |||||||
Telecommunications — 0.6% | |||||||
AT&T, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 02/01/32 | 50 | 40,647 | ||||
2.550% | 12/01/33 | 576 | 461,790 | ||||
3.500% | 09/15/53 | 850 | 600,503 | ||||
3.650% | 09/15/59 | 160 | 111,458 | ||||
4.500% | 05/15/35 | 545 | 508,268 | ||||
5.400% | 02/15/34 | 6,540 | 6,624,392 | ||||
Level 3 Financing, Inc., | |||||||
Sec’d. Notes, 144A | |||||||
4.500% | 04/01/30 | 250 | 157,091 | ||||
4.875% | 06/15/29 | 100 | 66,750 | ||||
Sr. Sec’d. Notes, 144A | |||||||
10.500% | 04/15/29 | 300 | 309,153 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Telecommunications (cont’d.) | |||||||
10.500% | 05/15/30 | 500 | $516,145 | ||||
11.000% | 11/15/29 | 1,020 | 1,062,473 | ||||
Motorola Solutions, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.400% | 04/15/34 | 4,310 | 4,301,769 | ||||
Rogers Communications, Inc. (Canada), | |||||||
Gtd. Notes | |||||||
4.500% | 03/15/42 | 60 | 51,838 | ||||
T-Mobile USA, Inc., | |||||||
Gtd. Notes | |||||||
2.050% | 02/15/28 | 380 | 340,456 | ||||
2.550% | 02/15/31 | 1,385 | 1,179,392 | ||||
3.875% | 04/15/30 | 8,000 | 7,499,058 | ||||
Verizon Communications, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.680% | 10/30/30 | 615 | 501,352 | ||||
2.550% | 03/21/31 | 1,074 | 917,570 | ||||
2.625% | 08/15/26 | 45 | 42,642 | ||||
2.650% | 11/20/40 | 1,595 | 1,123,821 | ||||
3.150% | 03/22/30 | 1,900 | 1,719,227 | ||||
28,135,795 | |||||||
Transportation — 0.0% | |||||||
Burlington Northern Santa Fe LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
4.150% | 04/01/45 | 10 | 8,528 | ||||
6.700% | 08/01/28 | 670 | 718,055 | ||||
Canadian Pacific Railway Co. (Canada), | |||||||
Gtd. Notes | |||||||
1.750% | 12/02/26 | 10 | 9,191 | ||||
2.875% | 11/15/29 | 5 | 4,461 | ||||
3.500% | 05/01/50 | 20 | 14,913 | ||||
CSX Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
6.150% | 05/01/37 | 715 | 781,755 | ||||
GN Bondco LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
9.500% | 10/15/31 | 575 | 574,286 | ||||
Norfolk Southern Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.590% | 05/17/25 | 100 | 100,438 | ||||
XPO, Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.125% | 06/01/31 | 150 | 153,991 | ||||
2,365,618 | |||||||
Total Corporate Bonds (cost $552,618,728) | 528,567,025 | ||||||
Floating Rate and Other Loans — 0.0% | |||||||
Telecommunications | |||||||
Level 3 Financing, Inc., | |||||||
Term Loan, 1 Month SOFR + 6.560% | |||||||
11.875%(c) | 04/16/29^ | 105 | 103,570 | ||||
11.875%(c) | 04/15/30^ | 105 | 104,330 |
A23
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Floating Rate and Other Loans (continued) | |||||||
Telecommunications (cont’d.) | |||||||
Lumen Technologies, Inc., | |||||||
Additional Second Lien Loan Facility | |||||||
—%(p) | 06/01/28 | EUR | 26 | $24,134 | |||
Term B-1 Loan, 1 Month SOFR + 2.464% | |||||||
7.793%(c) | 04/15/29 | 38 | 27,878 | ||||
Term B-2 Loan, 1 Month SOFR + 2.464% | |||||||
7.793%(c) | 04/15/30^ | 38 | 28,457 | ||||
Total Floating Rate and Other Loans (cost $287,965) | 288,369 | ||||||
Municipal Bonds — 0.2% | |||||||
Alabama — 0.0% | |||||||
Alabama Economic Settlement Authority, | |||||||
Taxable, Revenue Bonds, Series B | |||||||
4.263% | 09/15/32 | 240 | 230,719 | ||||
California — 0.1% | |||||||
Bay Area Toll Authority, | |||||||
Revenue Bonds, BABs, Series F2 | |||||||
6.263% | 04/01/49 | 1,325 | 1,490,489 | ||||
Taxable, Revenue Bonds, Series S | |||||||
3.176% | 04/01/41 | 25 | 19,924 | ||||
State of California, | |||||||
General Obligation Unlimited, BABs | |||||||
7.300% | 10/01/39 | 1,270 | 1,487,058 | ||||
General Obligation Unlimited, Taxable, BABs | |||||||
7.500% | 04/01/34 | 475 | 558,850 | ||||
7.625% | 03/01/40 | 220 | 269,353 | ||||
7.550% | 04/01/39 | 245 | 300,076 | ||||
University of California, | |||||||
Taxable, Revenue Bonds, Series J | |||||||
4.131% | 05/15/45 | 5 | 4,542 | ||||
4,130,292 | |||||||
Colorado — 0.0% | |||||||
Regional Transportation District Sales Tax Revenue, | |||||||
Revenue Bonds, BABs, Series B | |||||||
5.844% | 11/01/50 | 680 | 733,749 | ||||
Florida — 0.0% | |||||||
County of Miami-Dade Transit System, | |||||||
Revenue Bonds, BABs, Series B | |||||||
5.624% | 07/01/40 | 10 | 10,565 | ||||
County of Miami-Dade Water & Sewer System Revenue, | |||||||
Taxable, Revenue Bonds, Series C | |||||||
3.490% | 10/01/42 | 5 | 4,170 | ||||
Florida Development Finance Corp., | |||||||
Taxable, Revenue Bonds, Series B | |||||||
4.109% | 04/01/50 | 40 | 32,817 | ||||
47,552 | |||||||
Georgia — 0.0% | |||||||
Municipal Electric Authority of Georgia, | |||||||
Taxable, Revenue Bonds, BABs | |||||||
6.655% | 04/01/57 | 14 | 16,117 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Municipal Bonds (continued) | |||||||
Illinois — 0.0% | |||||||
Chicago O’Hare International Airport, | |||||||
Revenue Bonds, BABs, Series B | |||||||
6.395% | 01/01/40 | 1,030 | $1,131,816 | ||||
New Jersey — 0.1% | |||||||
New Jersey Turnpike Authority, | |||||||
Taxable, Revenue Bonds, BABs, Series F | |||||||
7.414% | 01/01/40 | 1,070 | 1,286,641 | ||||
New York — 0.0% | |||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, | |||||||
Taxable, Revenue Bonds, BABs | |||||||
5.767% | 08/01/36 | 1,025 | 1,058,804 | ||||
New York State Urban Development Corp., | |||||||
Taxable, Revenue Bonds, Series B | |||||||
2.590% | 03/15/35 | 30 | 25,159 | ||||
1,083,963 | |||||||
Ohio — 0.0% | |||||||
Ohio State University (The), | |||||||
Taxable, Revenue Bonds, BABs, Series C | |||||||
4.910% | 06/01/40 | 455 | 450,357 | ||||
Oregon — 0.0% | |||||||
State of Oregon Department of Transportation, | |||||||
Taxable, Revenue Bonds, BABs, Series A | |||||||
5.834% | 11/15/34 | 445 | 463,912 | ||||
Pennsylvania — 0.0% | |||||||
Pennsylvania Turnpike Commission, | |||||||
Revenue Bonds, BABs, Series B | |||||||
5.511% | 12/01/45 | 550 | 567,755 | ||||
Texas — 0.0% | |||||||
Central Texas Regional Mobility Authority, | |||||||
Taxable, Revenue Bonds, Series E | |||||||
3.167% | 01/01/41 | 15 | 11,570 | ||||
Dallas Fort Worth International Airport, | |||||||
Taxable, Revenue Bonds | |||||||
2.843% | 11/01/46 | 15 | 11,179 | ||||
Taxable, Revenue Bonds, Series A | |||||||
4.087% | 11/01/51 | 25 | 21,742 | ||||
Texas A&M University, | |||||||
Taxable, Revenue Bonds, Series B | |||||||
3.330% | 05/15/39 | 25 | 21,529 | ||||
66,020 | |||||||
Virginia — 0.0% | |||||||
University of Virginia, | |||||||
Taxable, Revenue Bonds, Series C | |||||||
4.179% | 09/01/2117 | 495 | 397,102 | ||||
Wisconsin — 0.0% | |||||||
State of Wisconsin, | |||||||
Taxable, Revenue Bonds, Series A | |||||||
3.954% | 05/01/36 | 15 | 13,961 | ||||
Total Municipal Bonds (cost $9,873,305) | 10,619,956 |
A24
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities — 0.7% | |||||||
Angel Oak Mortgage Trust, | |||||||
Series 2021-01, Class A1, 144A | |||||||
0.909%(cc) | 01/25/66 | 14 | $11,807 | ||||
Banc of America Mortgage Trust, | |||||||
Series 2005-A, Class 2A1 | |||||||
4.997%(cc) | 02/25/35 | 80 | 75,863 | ||||
Bellemeade Re Ltd., | |||||||
Series 2021-03A, Class A2, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
6.320%(c) | 09/25/31 | 2,100 | 2,099,995 | ||||
Series 2021-03A, Class M1A, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
6.320%(c) | 09/25/31 | 252 | 252,365 | ||||
Series 2022-01, Class M1A, 144A, 30 Day Average SOFR + 1.750% (Cap N/A, Floor 1.750%) | |||||||
7.070%(c) | 01/26/32 | 1,426 | 1,427,069 | ||||
BRAVO Residential Funding Trust, | |||||||
Series 2023-RPL01, Class A1, 144A | |||||||
5.000%(cc) | 05/25/63 | 4,402 | 4,327,674 | ||||
Chase Mortgage Finance Trust, | |||||||
Series 2007-A01, Class 1A5 | |||||||
5.769%(cc) | 02/25/37 | 53 | 51,254 | ||||
Citigroup Mortgage Loan Trust, | |||||||
Series 2022-A, Class A1, 144A | |||||||
6.170% | 09/25/62 | 619 | 618,567 | ||||
Connecticut Avenue Securities Trust, | |||||||
Series 2022-R01, Class 1M1, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
6.320%(c) | 12/25/41 | 4 | 4,340 | ||||
Series 2022-R01, Class 1M2, 144A, 30 Day Average SOFR + 1.900% (Cap N/A, Floor 0.000%) | |||||||
7.220%(c) | 12/25/41 | 1,760 | 1,772,155 | ||||
Series 2022-R04, Class 1M1, 144A, 30 Day Average SOFR + 2.000% (Cap N/A, Floor 0.000%) | |||||||
7.320%(c) | 03/25/42 | 6 | 6,077 | ||||
Series 2023-R02, Class 1M1, 144A, 30 Day Average SOFR + 2.300% (Cap N/A, Floor 0.000%) | |||||||
7.620%(c) | 01/25/43 | 8 | 8,569 | ||||
Series 2023-R08, Class 1M1, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 0.000%) | |||||||
6.820%(c) | 10/25/43 | 588 | 590,496 | ||||
Credit Suisse Mortgage Trust, | |||||||
Series 2018-RPL09, Class A, 144A | |||||||
3.850%(cc) | 09/25/57 | 604 | 569,464 | ||||
Fannie Mae Connecticut Avenue Securities, | |||||||
Series 2017-C05, Class 1ED3, 30 Day Average SOFR + 1.314% (Cap N/A, Floor 1.200%) | |||||||
6.635%(c) | 01/25/30 | —(r) | 406 | ||||
Series 2017-C06, Class 2ED1, 30 Day Average SOFR + 1.114% (Cap N/A, Floor 1.000%) | |||||||
6.435%(c) | 02/25/30 | 1 | 729 | ||||
Series 2018-C03, Class 1EB2, 30 Day Average SOFR + 0.964% (Cap N/A, Floor 0.850%) | |||||||
6.285%(c) | 10/25/30 | 3 | 2,694 | ||||
Series 2021-R02, Class 2M1, 144A, 30 Day Average SOFR + 0.900% (Cap N/A, Floor 0.000%) | |||||||
6.220%(c) | 11/25/41 | 5 | 5,328 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Fannie Mae REMIC, | |||||||
Series 2020-24, Class SP, IO, 30 Day Average SOFR x (1) + 5.936% (Cap 6.050%, Floor 0.000%) | |||||||
0.615%(c) | 04/25/50 | 1,024 | $121,381 | ||||
Series 2020-73, Class ID, IO, 30 Day Average SOFR x (1) + 5.136% (Cap 5.250%, Floor 0.000%) | |||||||
0.000%(c) | 05/25/40 | 13,998 | 738,273 | ||||
Series 2022-51, Class PS, IO, 30 Day Average SOFR x (1) + 5.950% (Cap 5.950%, Floor 0.000%) | |||||||
0.630%(c) | 08/25/52 | 2,516 | 207,166 | ||||
FHLMC Structured Agency Credit Risk REMIC Trust, | |||||||
Series 2020-HQA04, Class B1, 144A, 30 Day Average SOFR + 5.364% (Cap N/A, Floor 0.000%) | |||||||
10.685%(c) | 09/25/50 | 189 | 208,240 | ||||
Series 2021-DNA03, Class M2, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | |||||||
7.420%(c) | 10/25/33 | 10 | 10,175 | ||||
Series 2021-DNA05, Class M2, 144A, 30 Day Average SOFR + 1.650% (Cap N/A, Floor 0.000%) | |||||||
6.970%(c) | 01/25/34 | 181 | 181,663 | ||||
Series 2021-DNA07, Class M1, 144A, 30 Day Average SOFR + 0.850% (Cap N/A, Floor 0.000%) | |||||||
6.170%(c) | 11/25/41 | 9 | 9,044 | ||||
Series 2021-HQA03, Class M1, 144A, 30 Day Average SOFR + 0.850% (Cap N/A, Floor 0.000%) | |||||||
6.170%(c) | 09/25/41 | 4,759 | 4,736,813 | ||||
Series 2022-DNA01, Class M1A, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
6.320%(c) | 01/25/42 | 1,088 | 1,087,745 | ||||
Series 2022-DNA03, Class M1A, 144A, 30 Day Average SOFR + 2.000% (Cap N/A, Floor 0.000%) | |||||||
7.320%(c) | 04/25/42 | 12 | 12,427 | ||||
Series 2022-DNA04, Class M1A, 144A, 30 Day Average SOFR + 2.200% (Cap N/A, Floor 0.000%) | |||||||
7.520%(c) | 05/25/42 | 16 | 16,268 | ||||
Series 2022-DNA05, Class M1A, 144A, 30 Day Average SOFR + 2.950% (Cap N/A, Floor 0.000%) | |||||||
8.270%(c) | 06/25/42 | 17 | 16,933 | ||||
Series 2022-HQA01, Class M1A, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | |||||||
7.420%(c) | 03/25/42 | 11 | 10,948 | ||||
Freddie Mac REMIC, | |||||||
Series 4535, Class PA | |||||||
3.000% | 03/15/44 | 424 | 399,995 | ||||
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 | 3,616 | 106,853 | ||||
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 | 397 | 6,006 | ||||
Series 5250, Class NH | |||||||
3.000% | 08/25/52 | 1,000 | 854,243 | ||||
Series 5281, Class AY | |||||||
2.500% | 08/25/52 | 811 | 641,489 |
A25
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Freddie Mac Strips, | |||||||
Series 406, Class PO, PO | |||||||
1.225%(s) | 10/25/53 | 3,784 | $3,027,237 | ||||
Government National Mortgage Assoc., | |||||||
Series 2018-121, Class KS, IO, 1 Month SOFR x (1) + 3.746% (Cap 3.860%, Floor 0.000%) | |||||||
0.000%(c) | 09/20/48 | 1,562 | 29,708 | ||||
Series 2018-148, Class DS, IO, 1 Month SOFR x (1) + 3.726% (Cap 3.840%, Floor 0.000%) | |||||||
0.000%(c) | 10/20/48 | 1,968 | 40,393 | ||||
Series 2018-155, Class PS, IO, 1 Month SOFR x (1) + 3.186% (Cap 2.000%, Floor 0.000%) | |||||||
0.000%(c) | 11/20/48 | 2,602 | 33,483 | ||||
Series 2019-069, Class KB | |||||||
3.000% | 06/20/49 | 3,423 | 2,611,400 | ||||
Series 2019-092, Class S, IO, 1 Month SOFR x (1) + 2.696% (Cap 2.810%, Floor 0.000%) | |||||||
0.000%(c) | 07/20/49 | 4,539 | 51,259 | ||||
Series 2019-097, Class MS, IO, 1 Month SOFR x (1) + 2.966% (Cap 3.080%, Floor 0.000%) | |||||||
0.000%(c) | 08/20/49 | 2,827 | 38,105 | ||||
Series 2019-099, Class SA, IO, 1 Month SOFR x (1) + 3.236% (Cap 3.350%, Floor 0.000%) | |||||||
0.000%(c) | 08/20/49 | 3,113 | 50,978 | ||||
Series 2021-165, Class ST, IO, 1 Month SOFR x (1) + 3.246% (Cap 0.020%, Floor 0.000%) | |||||||
0.000%(c) | 01/20/50 | 618 | 148 | ||||
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 | 1,082 | 18,835 | ||||
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 | 4,698 | 96,491 | ||||
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 | 1,545 | 30,606 | ||||
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 | 1,251 | 30,000 | ||||
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 | 4,125 | 78,681 | ||||
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 | 2,732 | 57,073 | ||||
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 | 961 | 17,171 | ||||
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 | 5,752 | 89,565 | ||||
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 | 2,111 | 36,994 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
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 | 2,153 | $34,286 | ||||
Series 2022-170, Class SB, IO, 30 Day Average SOFR x (1) + 4.500% (Cap 4.500%, Floor 0.000%) | |||||||
0.000%(c) | 09/20/52 | 17,410 | 488,012 | ||||
Home Re Ltd., | |||||||
Series 2019-01, Class M1, 144A, 30 Day Average SOFR + 1.764% (Cap N/A, Floor 0.000%) | |||||||
7.085%(c) | 05/25/29 | 168 | 168,313 | ||||
JPMorgan Mortgage Trust, | |||||||
Series 2007-A01, Class 4A1 | |||||||
5.670%(cc) | 07/25/35 | 9 | 8,512 | ||||
Series 2020-INV02, Class A3, 144A | |||||||
3.000%(cc) | 10/25/50 | 6 | 5,193 | ||||
Legacy Mortgage Asset Trust, | |||||||
Series 2021-GS01, Class A1, 144A | |||||||
4.892%(cc) | 10/25/66 | 301 | 297,366 | ||||
MFA Trust, | |||||||
Series 2021-RPL01, Class A1, 144A | |||||||
1.131%(cc) | 07/25/60 | 2,147 | 1,889,720 | ||||
New Residential Mortgage Loan Trust, | |||||||
Series 2018-04A, Class A1S, 144A, 1 Month SOFR + 0.864% (Cap N/A, Floor 0.750%) | |||||||
6.194%(c) | 01/25/48 | 188 | 182,626 | ||||
Oaktown Re VII Ltd., | |||||||
Series 2021-02, Class M1A, 144A, 30 Day Average SOFR + 1.600% (Cap N/A, Floor 1.600%) | |||||||
6.920%(c) | 04/25/34 | 645 | 644,841 | ||||
PMT Credit Risk Transfer Trust, | |||||||
Series 2023-01R, Class A, 144A, 30 Day Average SOFR + 4.400% (Cap N/A, Floor 0.000%) | |||||||
9.721%(c) | 03/27/25 | 2,629 | 2,658,196 | ||||
Shamrock Residential (Ireland), | |||||||
Series 2023-01A, Class A, 144A, 1 Month EURIBOR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
4.848%(c) | 06/24/71 | EUR | 390 | 422,309 | |||
Structured Adjustable Rate Mortgage Loan Trust, | |||||||
Series 2004-01, Class 4A3 | |||||||
7.020%(cc) | 02/25/34 | 34 | 31,775 | ||||
Towd Point Mortgage Trust, | |||||||
Series 2017-05, Class A1, 144A, 1 Month SOFR + 0.714% (Cap N/A, Floor 0.000%) | |||||||
6.044%(c) | 02/25/57 | 317 | 322,123 | ||||
Series 2020-04, Class A1, 144A | |||||||
1.750% | 10/25/60 | 647 | 567,912 | ||||
Total Residential Mortgage-Backed Securities (cost $36,599,122) | 35,249,825 | ||||||
Sovereign Bonds — 0.2% | |||||||
Bermuda Government International Bond (Bermuda), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.375% | 08/20/30 | 710 | 595,069 |
A26
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Sovereign Bonds(continued) | |||||||
Export-Import Bank of India (India), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.875% | 02/01/28 | 1,040 | $991,575 | ||||
Finnvera OYJ (Finland), | |||||||
Gov’t. Gtd. Notes, 144A, MTN | |||||||
2.375% | 06/04/25 | 400 | 387,134 | ||||
Indonesia Government International Bond (Indonesia), | |||||||
Sr. Unsec’d. Notes | |||||||
1.450% | 09/18/26 | EUR | 2,100 | 2,141,686 | |||
3.375% | 07/30/25 | EUR | 1,500 | 1,606,644 | |||
Mexico Government International Bond (Mexico), | |||||||
Sr. Unsec’d. Notes | |||||||
6.000% | 05/07/36 | 1,463 | 1,465,926 | ||||
Panama Government International Bond (Panama), | |||||||
Sr. Unsec’d. Notes | |||||||
4.500% | 04/16/50 | 475 | 319,140 | ||||
Peruvian Government International Bond (Peru), | |||||||
Sr. Unsec’d. Notes | |||||||
2.783% | 01/23/31 | 453 | 389,155 | ||||
Province of Alberta (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
3.300% | 03/15/28 | 20 | 19,012 | ||||
Province of Manitoba (Canada), | |||||||
Sr. Unsec’d. Notes, Series GX | |||||||
2.600% | 04/16/24 | 22 | 21,973 | ||||
Province of New Brunswick (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
3.625% | 02/24/28 | 20 | 19,240 | ||||
Province of Quebec (Canada), | |||||||
Sr. Unsec’d. Notes, Series QO | |||||||
2.875% | 10/16/24 | 10 | 9,866 | ||||
Romanian Government International Bond (Romania), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
5.000% | 09/27/26 | EUR | 1,400 | 1,546,247 | |||
Saudi Government International Bond (Saudi Arabia), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
0.750% | 07/09/27 | EUR | 808 | 801,157 | |||
Total Sovereign Bonds (cost $10,774,154) | 10,313,824 | ||||||
U.S. Government Agency Obligations — 9.2% | |||||||
Federal Home Loan Bank | |||||||
5.500% | 07/15/36(k) | 960 | 1,053,039 | ||||
Federal Home Loan Mortgage Corp. | |||||||
1.500% | 11/01/50 | 3,915 | 2,949,697 | ||||
2.000% | 01/01/32 | 325 | 299,197 | ||||
2.000% | 02/01/36 | 1,226 | 1,094,591 | ||||
2.000% | 06/01/40 | 1,001 | 847,599 | ||||
2.000% | 10/01/40 | 1,492 | 1,262,193 | ||||
2.000% | 09/01/50 | 3,036 | 2,420,902 | ||||
2.000% | 10/01/50 | 2,491 | 1,986,031 | ||||
2.000% | 03/01/51 | 1,600 | 1,268,915 | ||||
2.000% | 04/01/51 | 100 | 79,207 | ||||
2.000% | 07/01/51 | 9,295 | 7,384,509 | ||||
2.000% | 09/01/51 | 446 | 359,211 | ||||
2.500% | 03/01/30 | 142 | 133,865 | ||||
2.500% | 10/01/32 | 349 | 324,107 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
2.500% | 01/01/51 | 1,464 | $1,211,796 | ||||
2.500% | 03/01/51 | 939 | 791,257 | ||||
2.500% | 04/01/51 | 7,573 | 6,295,851 | ||||
2.500% | 05/01/51 | 4,255 | 3,520,158 | ||||
2.500% | 08/01/51 | 448 | 371,736 | ||||
2.500% | 10/01/51 | 3,332 | 2,795,831 | ||||
2.500% | 12/01/51 | 3,118 | 2,584,863 | ||||
3.000% | 10/01/28 | 90 | 86,428 | ||||
3.000% | 06/01/29 | 252 | 241,754 | ||||
3.000% | 03/01/32 | 317 | 299,074 | ||||
3.000% | 01/01/37 | 170 | 156,593 | ||||
3.000% | 01/01/43 | 379 | 339,238 | ||||
3.000% | 07/01/43 | 767 | 685,808 | ||||
3.000% | 09/01/46 | 2,167 | 1,909,555 | ||||
3.000% | 12/01/46 | 6,287 | 5,535,414 | ||||
3.000% | 01/01/47 | 1,931 | 1,700,070 | ||||
3.000% | 02/01/50 | 1,597 | 1,389,830 | ||||
3.000% | 03/01/51 | 1,436 | 1,235,839 | ||||
3.000% | 06/01/51 | 589 | 508,954 | ||||
3.000% | 07/01/51 | 964 | 831,774 | ||||
3.000% | 11/01/51 | 912 | 785,910 | ||||
3.000% | 02/01/52 | 461 | 401,477 | ||||
3.500% | 06/01/37 | 127 | 120,789 | ||||
3.500% | 03/01/42 | 179 | 165,408 | ||||
3.500% | 06/01/42 | 129 | 118,790 | ||||
3.500% | 01/01/47 | 320 | 292,697 | ||||
3.500% | 02/01/47 | 462 | 421,821 | ||||
3.500% | 03/01/48 | 4,575 | 4,179,328 | ||||
3.500% | 04/01/52 | 2,684 | 2,411,105 | ||||
4.000% | 06/01/26 | 71 | 69,702 | ||||
4.000% | 09/01/26 | 34 | 33,810 | ||||
4.000% | 11/01/37 | 3,036 | 2,941,354 | ||||
4.000% | 10/01/39 | 286 | 271,609 | ||||
4.000% | 12/01/40 | 137 | 130,381 | ||||
4.000% | 10/01/41 | 114 | 108,528 | ||||
4.000% | 01/01/42 | 44 | 41,431 | ||||
4.000% | 10/01/45 | 147 | 139,867 | ||||
4.000% | 04/01/52 | 1,265 | 1,186,422 | ||||
4.500% | 09/01/39 | 92 | 90,017 | ||||
4.500% | 10/01/39 | 524 | 514,930 | ||||
4.500% | 12/01/39 | 172 | 169,098 | ||||
4.500% | 07/01/41 | 50 | 49,004 | ||||
4.500% | 07/01/41 | 1,066 | 1,046,911 | ||||
4.500% | 08/01/41 | 70 | 68,282 | ||||
4.500% | 08/01/41 | 85 | 83,388 | ||||
4.500% | 08/01/41 | 101 | 98,379 | ||||
4.500% | 10/01/41 | 93 | 90,834 | ||||
4.500% | 10/01/46 | 84 | 81,508 | ||||
4.500% | 12/01/47 | 380 | 369,491 | ||||
4.500% | 07/01/52 | 6,965 | 6,632,208 | ||||
4.500% | 08/01/52 | 2,845 | 2,709,504 | ||||
4.500% | 09/01/52 | 227 | 215,881 | ||||
5.000% | 05/01/34 | 9 | 8,780 | ||||
5.000% | 05/01/34 | 87 | 87,831 | ||||
5.000% | 08/01/35 | 9 | 9,347 | ||||
5.000% | 09/01/35 | 23 | 22,985 | ||||
5.000% | 10/01/36 | 15 | 14,862 |
A27
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
5.000% | 05/01/37 | 9 | $8,749 | ||||
5.000% | 07/01/37 | 159 | 160,228 | ||||
5.000% | 02/01/38 | 1,755 | 1,754,043 | ||||
5.000% | 09/01/38 | 22 | 21,736 | ||||
5.000% | 09/01/38 | 23 | 22,742 | ||||
5.000% | 09/01/38 | 26 | 26,028 | ||||
5.000% | 09/01/38 | 3,602 | 3,596,041 | ||||
5.000% | 10/01/38 | 1,144 | 1,141,893 | ||||
5.000% | 01/01/39 | 771 | 769,730 | ||||
5.000% | 02/01/39 | 9 | 8,766 | ||||
5.000% | 06/01/39 | 26 | 26,021 | ||||
5.000% | 10/01/52 | 451 | 440,547 | ||||
5.000% | 11/01/52 | 1,396 | 1,362,712 | ||||
5.500% | 02/01/34 | 12 | 12,071 | ||||
5.500% | 04/01/34 | 240 | 242,306 | ||||
5.500% | 06/01/34 | 37 | 37,423 | ||||
5.500% | 06/01/34 | 71 | 71,920 | ||||
5.500% | 05/01/37 | 21 | 21,120 | ||||
5.500% | 02/01/38 | 159 | 162,976 | ||||
5.500% | 05/01/38 | 29 | 29,490 | ||||
5.500% | 07/01/38 | 145 | 148,585 | ||||
6.000% | 03/01/32 | 102 | 104,432 | ||||
6.000% | 12/01/33 | 20 | 19,914 | ||||
6.000% | 07/01/36 | 2 | 1,822 | ||||
6.000% | 12/01/36 | 3 | 3,568 | ||||
6.000% | 05/01/37 | 5 | 5,651 | ||||
6.000% | 12/01/37 | 9 | 9,094 | ||||
6.000% | 01/01/38 | 2 | 2,122 | ||||
6.000% | 01/01/38 | 4 | 4,660 | ||||
6.000% | 01/01/38 | 100 | 103,607 | ||||
6.000% | 10/01/38 | 41 | 42,372 | ||||
6.000% | 08/01/39 | 16 | 16,838 | ||||
6.000% | 12/01/52 | 447 | 451,656 | ||||
6.750% | 03/15/31 | 455 | 521,051 | ||||
7.000% | 01/01/31 | 4 | 4,478 | ||||
7.000% | 06/01/31 | 2 | 2,368 | ||||
7.000% | 09/01/31 | 1 | 1,421 | ||||
7.000% | 10/01/31 | 17 | 17,524 | ||||
7.000% | 10/01/32 | 23 | 23,540 | ||||
Federal National Mortgage Assoc. | |||||||
1.500% | 01/01/36 | 2,635 | 2,294,737 | ||||
1.500% | 05/01/36 | 395 | 343,686 | ||||
1.500% | 06/01/36 | 414 | 359,952 | ||||
1.500% | 07/01/36 | 1,514 | 1,314,826 | ||||
1.500% | 02/01/42 | 443 | 360,576 | ||||
1.500% | 10/01/50 | 370 | 279,552 | ||||
1.500% | 11/01/50 | 3,981 | 3,006,635 | ||||
1.500% | 12/01/50 | 4,448 | 3,351,508 | ||||
1.500% | 01/01/51 | 1,931 | 1,459,153 | ||||
1.500% | 03/01/51 | 938 | 709,357 | ||||
2.000% | 03/01/31 | 1,261 | 1,170,055 | ||||
2.000% | 08/01/31 | 485 | 446,706 | ||||
2.000% | 01/01/32 | 2,603 | 2,398,837 | ||||
2.000% | 05/01/36 | 1,215 | 1,079,594 | ||||
2.000% | 12/01/36 | 2,403 | 2,131,135 | ||||
2.000% | 02/01/37 | 2,702 | 2,396,323 | ||||
2.000% | 02/01/41 | 2,034 | 1,716,690 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
2.000% | 05/01/41(k) | 4,585 | $3,869,698 | ||||
2.000% | 08/01/50 | 1,075 | 857,761 | ||||
2.000% | 10/01/50 | 12,207 | 9,723,919 | ||||
2.000% | 12/01/50 | 39 | 30,981 | ||||
2.000% | 01/01/51 | 1,834 | 1,459,809 | ||||
2.000% | 02/01/51(k) | 14,061 | 11,203,356 | ||||
2.000% | 03/01/51 | 3,582 | 2,845,224 | ||||
2.000% | 04/01/51 | 2,741 | 2,180,371 | ||||
2.000% | 04/01/51 | 3,759 | 2,986,085 | ||||
2.000% | 05/01/51(k) | 38,721 | 30,812,309 | ||||
2.000% | 08/01/51 | 3,528 | 2,801,808 | ||||
2.500% | TBA(tt) | 4,000 | 3,305,841 | ||||
2.500% | 07/01/32 | 1,038 | 965,124 | ||||
2.500% | 08/01/32 | 1,134 | 1,053,843 | ||||
2.500% | 09/01/32 | 1,109 | 1,030,172 | ||||
2.500% | 07/01/35 | 4,032 | 3,748,499 | ||||
2.500% | 10/01/37 | 1,043 | 956,511 | ||||
2.500% | 10/01/43 | 453 | 388,569 | ||||
2.500% | 12/01/46 | 840 | 717,613 | ||||
2.500% | 03/01/50 | 623 | 520,087 | ||||
2.500% | 08/01/50 | 2,830 | 2,356,873 | ||||
2.500% | 12/01/50 | 272 | 228,461 | ||||
2.500% | 12/01/50 | 3,548 | 2,954,874 | ||||
2.500% | 02/01/51 | 2,240 | 1,857,499 | ||||
2.500% | 02/01/51 | 2,727 | 2,259,755 | ||||
2.500% | 04/01/51 | 3,327 | 2,766,719 | ||||
2.500% | 08/01/51 | 881 | 731,119 | ||||
2.500% | 08/01/51 | 895 | 742,614 | ||||
2.500% | 09/01/51 | 2,789 | 2,314,899 | ||||
2.500% | 10/01/51 | 967 | 801,646 | ||||
2.500% | 12/01/51 | 8,327 | 6,965,816 | ||||
2.500% | 02/01/52 | 441 | 369,739 | ||||
2.500% | 05/01/52 | 870 | 729,470 | ||||
3.000% | 02/01/27 | 291 | 282,117 | ||||
3.000% | 08/01/30 | 334 | 318,118 | ||||
3.000% | 05/01/35 | 2,720 | 2,538,313 | ||||
3.000% | 07/01/36 | 1,669 | 1,557,418 | ||||
3.000% | 11/01/36 | 715 | 656,781 | ||||
3.000% | 12/01/42 | 425 | 379,541 | ||||
3.000% | 12/01/42 | 575 | 514,547 | ||||
3.000% | 03/01/43 | 105 | 93,546 | ||||
3.000% | 11/01/46 | 104 | 91,848 | ||||
3.000% | 01/01/47 | 840 | 736,427 | ||||
3.000% | 02/01/47 | 597 | 524,916 | ||||
3.000% | 03/01/47 | 465 | 406,394 | ||||
3.000% | 11/01/49 | 460 | 401,114 | ||||
3.000% | 12/01/49 | 288 | 251,193 | ||||
3.000% | 12/01/49 | 396 | 344,813 | ||||
3.000% | 01/01/50 | 448 | 390,489 | ||||
3.000% | 02/01/50 | 405 | 353,347 | ||||
3.000% | 02/01/50 | 455 | 395,581 | ||||
3.000% | 02/01/50 | 4,908 | 4,274,769 | ||||
3.000% | 03/01/50 | 343 | 298,101 | ||||
3.000% | 05/01/51 | 780 | 673,227 | ||||
3.000% | 12/01/51 | 4,967 | 4,311,528 | ||||
3.000% | 12/01/51 | 15,900 | 13,841,063 | ||||
3.000% | 03/01/52 | 953 | 821,158 |
A28
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
3.000% | 03/01/52 | 1,756 | $1,522,257 | ||||
3.000% | 04/01/52 | 899 | 776,074 | ||||
3.000% | 04/01/52 | 1,792 | 1,564,689 | ||||
3.500% | TBA | 5,500 | 4,925,263 | ||||
3.500% | 07/01/31 | 238 | 230,296 | ||||
3.500% | 11/01/32 | 154 | 147,590 | ||||
3.500% | 02/01/33 | 326 | 313,356 | ||||
3.500% | 05/01/33 | 451 | 433,673 | ||||
3.500% | 06/01/39 | 283 | 263,426 | ||||
3.500% | 01/01/42 | 1,867 | 1,720,997 | ||||
3.500% | 05/01/42 | 937 | 862,494 | ||||
3.500% | 07/01/42 | 376 | 345,552 | ||||
3.500% | 08/01/42 | 143 | 131,445 | ||||
3.500% | 08/01/42 | 347 | 318,849 | ||||
3.500% | 09/01/42 | 403 | 369,877 | ||||
3.500% | 09/01/42 | 706 | 649,214 | ||||
3.500% | 11/01/42 | 201 | 184,629 | ||||
3.500% | 03/01/43 | 1,399 | 1,285,892 | ||||
3.500% | 04/01/43 | 223 | 205,631 | ||||
3.500% | 04/01/43 | 494 | 453,540 | ||||
3.500% | 07/01/43 | 101 | 92,657 | ||||
3.500% | 06/01/45 | 1,822 | 1,662,511 | ||||
3.500% | 07/01/46 | 235 | 214,398 | ||||
3.500% | 11/01/46 | 448 | 408,153 | ||||
3.500% | 09/01/47 | 452 | 412,146 | ||||
3.500% | 01/01/48 | 4,479 | 4,084,078 | ||||
3.500% | 05/01/48 | 414 | 376,526 | ||||
3.500% | 06/01/48 | 2,115 | 1,928,293 | ||||
3.500% | 02/01/52 | 5,212 | 4,684,814 | ||||
3.500% | 03/01/52 | 880 | 798,395 | ||||
3.500% | 06/01/52 | 427 | 382,725 | ||||
4.000% | 12/01/36 | 340 | 327,417 | ||||
4.000% | 10/01/41 | 1,046 | 990,983 | ||||
4.000% | 07/01/44 | 419 | 396,547 | ||||
4.000% | 09/01/44 | 694 | 657,591 | ||||
4.000% | 10/01/46 | 330 | 310,523 | ||||
4.000% | 06/01/47 | 302 | 284,505 | ||||
4.000% | 09/01/47 | 113 | 106,669 | ||||
4.000% | 11/01/47 | 373 | 353,252 | ||||
4.000% | 11/01/47 | 478 | 453,456 | ||||
4.000% | 12/01/47 | 1,540 | 1,458,237 | ||||
4.000% | 03/01/49 | 3,123 | 2,936,600 | ||||
4.000% | 01/01/50 | 1,387 | 1,300,287 | ||||
4.000% | 05/01/50 | 1,924 | 1,797,599 | ||||
4.000% | 05/01/52 | 901 | 835,861 | ||||
4.000% | 06/01/52 | 896 | 831,538 | ||||
4.000% | 07/01/52 | 6,645 | 6,161,455 | ||||
4.000% | 09/01/52 | 1,084 | 1,004,893 | ||||
4.000% | 10/01/52 | 917 | 850,299 | ||||
4.500% | 07/01/33 | 17 | 17,076 | ||||
4.500% | 08/01/33 | 6 | 5,554 | ||||
4.500% | 09/01/33 | 18 | 17,028 | ||||
4.500% | 10/01/33 | 44 | 43,278 | ||||
4.500% | 03/01/34 | 13 | 12,421 | ||||
4.500% | 01/01/35 | 1 | 929 | ||||
4.500% | 07/01/39 | 340 | 333,405 | ||||
4.500% | 08/01/39 | 229 | 224,641 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
4.500% | 09/01/39 | 142 | $139,161 | ||||
4.500% | 12/01/39 | 2 | 1,996 | ||||
4.500% | 03/01/41 | 537 | 526,234 | ||||
4.500% | 07/01/42 | 52 | 51,449 | ||||
4.500% | 06/01/50 | 660 | 634,416 | ||||
4.500% | 07/01/52 | 4,103 | 3,906,895 | ||||
4.500% | 09/01/52 | 248 | 236,435 | ||||
5.000% | TBA(tt) | 4,000 | 3,993,857 | ||||
5.000% | 03/01/34 | 90 | 90,121 | ||||
5.000% | 04/01/35 | 213 | 214,048 | ||||
5.000% | 06/01/35 | 51 | 51,459 | ||||
5.000% | 07/01/35 | 36 | 36,637 | ||||
5.000% | 07/01/35 | 55 | 55,251 | ||||
5.000% | 09/01/35 | 44 | 44,404 | ||||
5.000% | 11/01/35 | 50 | 50,358 | ||||
5.000% | 02/01/36 | 29 | 29,033 | ||||
5.000% | 04/01/38 | 1,678 | 1,675,255 | ||||
5.000% | 06/01/49 | 433 | 428,436 | ||||
5.000% | 08/01/52 | 440 | 429,627 | ||||
5.000% | 09/01/52 | 452 | 441,485 | ||||
5.000% | 10/01/52 | 1,937 | 1,891,548 | ||||
5.000% | 02/01/53 | 13,806 | 13,477,044 | ||||
5.500% | TBA(tt) | 7,000 | 6,965,254 | ||||
5.500% | 02/01/33 | 43 | 44,181 | ||||
5.500% | 08/01/33 | 91 | 92,766 | ||||
5.500% | 10/01/33 | 26 | 26,314 | ||||
5.500% | 12/01/33 | 21 | 21,340 | ||||
5.500% | 12/01/34 | 61 | 62,671 | ||||
5.500% | 10/01/35 | 151 | 152,513 | ||||
5.500% | 03/01/36 | 21 | 21,204 | ||||
5.500% | 04/01/36 | 42 | 42,972 | ||||
5.500% | 01/01/37 | 30 | 30,258 | ||||
5.500% | 04/01/37 | 14 | 14,258 | ||||
5.500% | 05/01/37 | 88 | 90,282 | ||||
5.500% | 08/01/37 | 108 | 110,580 | ||||
6.000% | 10/01/33 | 103 | 105,317 | ||||
6.000% | 11/01/33 | 8 | 8,388 | ||||
6.000% | 11/01/33 | 12 | 11,762 | ||||
6.000% | 01/01/34 | 144 | 149,226 | ||||
6.000% | 02/01/34 | 42 | 43,455 | ||||
6.000% | 03/01/34 | 1 | 888 | ||||
6.000% | 03/01/34 | 10 | 9,696 | ||||
6.000% | 11/01/34 | 11 | 10,994 | ||||
6.000% | 01/01/35 | 19 | 19,478 | ||||
6.000% | 01/01/35 | 42 | 42,475 | ||||
6.000% | 02/01/35 | 1 | 937 | ||||
6.000% | 02/01/35 | 82 | 84,968 | ||||
6.000% | 02/01/35 | 86 | 88,180 | ||||
6.000% | 04/01/35 | 7 | 7,450 | ||||
6.000% | 05/01/36 | 12 | 11,743 | ||||
6.000% | 06/01/36 | 11 | 11,487 | ||||
6.000% | 02/01/37 | 32 | 32,656 | ||||
6.000% | 06/01/37 | 10 | 10,574 | ||||
6.000% | 05/01/38 | 76 | 79,199 | ||||
6.000% | 01/01/53 | 6,785 | 6,851,592 | ||||
6.500% | 09/01/32 | 1 | 765 | ||||
6.500% | 09/01/32 | 10 | 10,427 |
A29
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
6.500% | 09/01/32 | 15 | $15,215 | ||||
6.500% | 09/01/32 | 17 | 17,979 | ||||
6.500% | 10/01/32 | 18 | 19,083 | ||||
6.500% | 04/01/33 | 23 | 23,967 | ||||
6.500% | 11/01/33 | 17 | 17,212 | ||||
6.500% | 01/01/34 | 7 | 7,622 | ||||
6.500% | 09/01/34 | 25 | 25,801 | ||||
6.500% | 09/01/36 | 76 | 79,649 | ||||
6.500% | 10/01/36 | 15 | 15,310 | ||||
6.500% | 01/01/37 | 33 | 34,261 | ||||
6.500% | 01/01/37 | 45 | 46,626 | ||||
6.500% | 09/01/37 | 8 | 8,280 | ||||
6.625% | 11/15/30(k) | 945 | 1,068,206 | ||||
7.000% | 02/01/32 | 6 | 5,987 | ||||
7.000% | 05/01/32 | 7 | 7,440 | ||||
7.000% | 06/01/32 | 6 | 6,091 | ||||
7.000% | 07/01/32 | 13 | 12,985 | ||||
7.125% | 01/15/30(k) | 3,600 | 4,118,056 | ||||
Government National Mortgage Assoc. | |||||||
2.000% | TBA(tt) | 6,500 | 5,324,233 | ||||
2.000% | 01/20/51 | 4,500 | 3,689,433 | ||||
2.000% | 03/20/51 | 1,405 | 1,151,513 | ||||
2.000% | 07/20/51 | 429 | 351,366 | ||||
2.000% | 10/20/51 | 882 | 722,690 | ||||
2.000% | 11/20/51 | 496 | 406,305 | ||||
2.500% | 03/20/43 | 315 | 273,521 | ||||
2.500% | 12/20/46 | 291 | 251,164 | ||||
2.500% | 09/20/50 | 573 | 489,274 | ||||
2.500% | 10/20/50 | 2,631 | 2,245,463 | ||||
2.500% | 11/20/50 | 2,002 | 1,708,566 | ||||
2.500% | 02/20/51 | 3,966 | 3,383,821 | ||||
2.500% | 05/20/51 | 12,612 | 10,753,610 | ||||
2.500% | 07/20/51 | 4,799 | 4,090,673 | ||||
2.500% | 08/20/51 | 944 | 804,295 | ||||
3.000% | 03/15/45 | 285 | 253,454 | ||||
3.000% | 11/20/45 | 363 | 325,889 | ||||
3.000% | 03/20/46 | 2,130 | 1,908,795 | ||||
3.000% | 07/20/46 | 1,388 | 1,241,133 | ||||
3.000% | 10/20/46 | 464 | 415,175 | ||||
3.000% | 02/20/47 | 706 | 631,521 | ||||
3.000% | 12/20/49 | 139 | 123,205 | ||||
3.000% | 01/20/50 | 1,229 | 1,092,729 | ||||
3.000% | 06/20/51 | 328 | 289,430 | ||||
3.000% | 10/20/51 | 4,380 | 3,862,451 | ||||
3.000% | 11/20/51 | 1,276 | 1,125,204 | ||||
3.000% | 12/20/51 | 1,476 | 1,302,220 | ||||
3.500% | 12/20/42 | 714 | 663,813 | ||||
3.500% | 05/20/43 | 146 | 135,669 | ||||
3.500% | 03/20/45 | 445 | 411,139 | ||||
3.500% | 04/20/45 | 597 | 553,361 | ||||
3.500% | 07/20/46 | 2,058 | 1,901,358 | ||||
3.500% | 06/20/49 | 2,621 | 2,410,199 | ||||
3.500% | 08/20/49 | 1,471 | 1,352,916 | ||||
3.500% | 03/20/50 | 2,084 | 1,915,073 | ||||
3.500% | 06/20/50 | 296 | 269,396 | ||||
3.500% | 08/20/50 | 323 | 296,356 | ||||
3.500% | 02/20/52 | 7,872 | 7,161,660 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
4.000% | 06/15/40 | 56 | $53,024 | ||||
4.000% | 05/20/41 | 106 | 102,340 | ||||
4.000% | 12/20/42 | 278 | 267,102 | ||||
4.000% | 08/20/44 | 97 | 93,596 | ||||
4.000% | 11/20/45 | 467 | 445,221 | ||||
4.000% | 12/20/45 | 512 | 488,042 | ||||
4.000% | 11/20/46 | 110 | 105,055 | ||||
4.000% | 09/20/47 | 1,404 | 1,331,016 | ||||
4.000% | 02/20/49 | 785 | 743,645 | ||||
4.000% | 01/20/50 | 776 | 734,089 | ||||
4.000% | 06/20/52 | 1,949 | 1,823,181 | ||||
4.000% | 08/20/52 | 2,024 | 1,893,692 | ||||
4.500% | 04/15/40 | 195 | 191,884 | ||||
4.500% | 01/20/41 | 499 | 491,451 | ||||
4.500% | 02/20/41 | 299 | 294,279 | ||||
4.500% | 06/20/44 | 322 | 317,073 | ||||
4.500% | 09/20/46 | 170 | 164,629 | ||||
4.500% | 11/20/46 | 293 | 288,474 | ||||
4.500% | 03/20/47 | 239 | 234,285 | ||||
4.500% | 05/20/48 | 239 | 233,169 | ||||
4.500% | 06/20/48 | 310 | 301,627 | ||||
4.500% | 08/20/48 | 1,042 | 1,014,470 | ||||
5.000% | 10/20/37 | 63 | 63,284 | ||||
5.000% | 04/20/45 | 322 | 322,971 | ||||
5.500% | 11/15/32 | 16 | 16,523 | ||||
5.500% | 02/15/33 | 20 | 20,698 | ||||
5.500% | 08/15/33 | 42 | 42,762 | ||||
5.500% | 08/15/33 | 57 | 58,973 | ||||
5.500% | 09/15/33 | 29 | 29,097 | ||||
5.500% | 09/15/33 | 42 | 42,797 | ||||
5.500% | 10/15/33 | 36 | 37,340 | ||||
5.500% | 12/15/33 | 3 | 3,273 | ||||
5.500% | 04/15/34 | 127 | 130,633 | ||||
5.500% | 07/15/35 | 25 | 26,003 | ||||
5.500% | 02/15/36 | 75 | 76,794 | ||||
6.000% | 02/15/33 | 1 | 1,396 | ||||
6.000% | 04/15/33 | 11 | 11,081 | ||||
6.000% | 09/15/33 | 8 | 7,803 | ||||
6.000% | 12/15/33 | 18 | 18,027 | ||||
6.000% | 12/15/33 | 58 | 58,877 | ||||
6.000% | 01/15/34 | 9 | 9,524 | ||||
6.000% | 01/15/34 | 14 | 14,118 | ||||
6.000% | 06/20/34 | 32 | 32,996 | ||||
6.000% | 07/15/34 | 69 | 71,684 | ||||
6.000% | 10/15/34 | 71 | 72,880 | ||||
6.500% | TBA | 10,000 | 10,156,963 | ||||
6.500% | 05/15/24 | —(r) | 5 | ||||
6.500% | 10/15/24 | —(r) | 27 | ||||
6.500% | 12/15/30 | 3 | 3,033 | ||||
6.500% | 01/15/32 | 11 | 10,806 | ||||
6.500% | 02/15/32 | 7 | 7,057 | ||||
6.500% | 07/15/32 | 17 | 17,281 | ||||
6.500% | 08/15/32 | 3 | 3,059 | ||||
6.500% | 08/15/32 | 6 | 6,261 | ||||
6.500% | 08/15/32 | 16 | 16,165 | ||||
6.500% | 08/15/32 | 92 | 95,233 | ||||
6.500% | 06/15/35 | 14 | 14,278 |
A30
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
6.500% | 07/15/35 | 5 | $5,621 | ||||
8.000% | 04/15/25 | —(r) | 73 | ||||
Tennessee Valley Authority, Sr. Unsec’d. Notes | |||||||
1.500% | 09/15/31 | 625 | 507,145 | ||||
Total U.S. Government Agency Obligations (cost $477,334,054) | 448,927,146 | ||||||
U.S. Treasury Obligations — 1.2% | |||||||
U.S. Treasury Bonds | |||||||
1.250% | 05/15/50 | 3,750 | 1,919,531 | ||||
1.750% | 08/15/41 | 10,535 | 7,111,125 | ||||
2.000% | 11/15/41 | 1,345 | 943,602 | ||||
2.250% | 05/15/41 | 1,195 | 883,180 | ||||
2.375% | 11/15/49 | 4,100 | 2,808,500 | ||||
2.375% | 05/15/51 | 385 | 261,559 | ||||
2.875% | 05/15/52 | 4,450 | 3,369,484 | ||||
3.375% | 11/15/48(h) | 21,805 | 18,224,210 | ||||
4.750% | 11/15/53 | 670 | 715,644 | ||||
U.S. Treasury Notes | |||||||
4.000% | 12/15/25 | 11,815 | 11,670,543 | ||||
4.000% | 02/15/34 | 150 | 147,563 | ||||
U.S. Treasury Strips Coupon | |||||||
2.365%(s) | 08/15/44 | 3,095 | 1,205,599 | ||||
2.395%(s) | 11/15/43 | 1 | 402 | ||||
3.330%(s) | 11/15/41 | 14,525 | 6,419,937 | ||||
5.331%(s) | 02/15/40 | 1,155 | 562,205 | ||||
Total U.S. Treasury Obligations (cost $62,828,918) | 56,243,084 | ||||||
Total Long-Term Investments (cost $3,527,987,197) | 4,619,143,882 |
Shares | |||||
Short-Term Investments — 6.6% | |||||
Affiliated Mutual Funds — 6.6% | |||||
PGIM Core Ultra Short Bond Fund(wb) | 253,415,230 | 253,415,230 | |||
PGIM Institutional Money Market Fund (7-day effective yield 5.664%) (cost $71,166,039; includes $70,700,519 of cash collateral for securities on loan)(b)(wb) | 71,286,391 | 71,250,747 | |||
Total Affiliated Mutual Funds (cost $324,581,269) | 324,665,977 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Treasury Obligation(k)(n) — 0.0% | |||||||
U.S. Treasury Bills | |||||||
5.270% | 06/20/24 | 150 | $148,261 | ||||
(cost $148,269) | |||||||
Total Short-Term Investments (cost $324,729,538) | 324,814,238 | ||||||
TOTAL INVESTMENTS, BEFORE OPTION WRITTEN—101.1% (cost $3,852,716,735) | 4,943,958,120 |
Option Written*~ — (0.0)% | |||||
(premiums received $0) | (9) | ||||
TOTAL INVESTMENTS, NET OF OPTION WRITTEN—101.1% (cost $3,852,716,735) | 4,943,958,111 | ||||
Liabilities in excess of other assets(z) — (1.1)% | (55,752,438) | ||||
Net Assets — 100.0% | $4,888,205,673 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: | |
CAD | Canadian Dollar |
EUR | Euro |
GBP | British Pound |
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 |
ADR | American Depositary Receipt |
BABs | Build America Bonds |
BARC | Barclays Bank PLC |
BNP | BNP Paribas S.A. |
BNYM | Bank of New York Mellon |
BOA | Bank of America, N.A. |
CDI | Chess Depository Interest |
CDX | Credit Derivative Index |
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 |
GMTN | Global Medium Term Note |
GSI | Goldman Sachs International |
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 |
MSI | Morgan Stanley & Co International PLC |
MTN | Medium Term Note |
A31
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
OTC | Over-the-counter |
PJSC | Public Joint-Stock Company |
PO | Principal Only |
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 |
SONIA | Sterling Overnight Index Average |
SSB | State Street Bank & Trust Company |
STRIPs | Separate Trading of Registered Interest and Principal of Securities |
T | Swap payment upon termination |
TBA | To Be Announced |
USOIS | United States Overnight Index Swap |
UTS | Unit Trust Security |
* | 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. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $1,141,531 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 $68,779,473; cash collateral of $70,700,519 (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. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2024. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2024. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(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. |
(n) | Rate shown reflects yield to maturity at purchased date. |
(oo) | Perpetual security. Maturity date represents next call date. |
(p) | Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end. |
(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. |
(tt) | All or partial principal amount represents “TBA” mortgage dollar rolls. The aggregate mortgage dollar roll principal amount of $21,500,000 is 0.4% of net assets. |
(wb) | Represents an investment in a Fund affiliated with the Manager. |
(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. | 2.000% | TBA | 04/11/24 | $(14,500) | $(11,469,324) | ||||||
Federal National Mortgage Assoc. | 5.000% | TBA | 04/11/24 | (3,500) | (3,414,821) | ||||||
Federal National Mortgage Assoc. | 6.000% | TBA | 05/13/24 | (3,500) | (3,531,180) | ||||||
Government National Mortgage Assoc. | 3.000% | TBA | 04/18/24 | (7,500) | (6,613,302) | ||||||
TOTAL FORWARD COMMITMENT CONTRACTS (proceeds receivable $25,042,363) | $(25,028,627) |
Option Written:
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 | $(9) | ||||||||||
(premiums received $0) |
A32
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Futures contracts outstanding at March 31, 2024: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
377 | 2 Year U.S. Treasury Notes | Jun. 2024 | $77,090,610 | $(88,911) | ||||
482 | 5 Year U.S. Treasury Notes | Jun. 2024 | 51,581,534 | 36,449 | ||||
733 | 10 Year U.S. Treasury Notes | Jun. 2024 | 81,214,113 | 271,210 | ||||
39 | 10 Year U.S. Ultra Treasury Notes | Jun. 2024 | 4,469,766 | 38,926 | ||||
3 | 20 Year U.S. Treasury Bonds | Jun. 2024 | 361,313 | (98) | ||||
184 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2024 | 23,736,000 | 423,145 | ||||
5 | Mini MSCI EAFE Index | Jun. 2024 | 589,275 | 7,690 | ||||
6 | S&P 500 E-Mini Index | Jun. 2024 | 1,592,550 | 35,121 | ||||
723,532 | ||||||||
Short Positions: | ||||||||
9 | 5 Year Euro-Bobl | Jun. 2024 | 1,148,166 | (7,338) | ||||
2 | 10 Year Euro-Bund | Jun. 2024 | 287,794 | (3,109) | ||||
(10,447) | ||||||||
$713,085 |
Forward foreign currency exchange
contracts outstanding at March 31, 2024:
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
British Pound, | |||||||||||||
Expiring 04/03/24 | BNP | GBP | 5,400 | $6,825,595 | $6,815,833 | $— | $(9,762) | ||||||
Euro, | |||||||||||||
Expiring 04/02/24 | SSB | EUR | 38,880 | 42,064,560 | 41,954,139 | — | (110,421) | ||||||
$48,890,155 | $48,769,972 | — | (120,183) |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
British Pound, | |||||||||||||
Expiring 05/02/24 | BNP | GBP | 5,400 | $6,826,678 | $6,816,884 | $9,794 | $— | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/19/24 | MSI | CAD | 3,066 | 2,280,977 | 2,264,370 | 16,607 | — | ||||||
Euro, | |||||||||||||
Expiring 04/02/24 | BNYM | EUR | 38,880 | 42,172,842 | 41,954,140 | 218,702 | — | ||||||
Expiring 05/02/24 | SSB | EUR | 38,880 | 42,115,260 | 42,003,213 | 112,047 | — | ||||||
$93,395,757 | $93,038,607 | 357,150 | — | ||||||||||
$357,150 | $(120,183) |
Credit default swap agreements
outstanding at March 31, 2024:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at March 31, 2024(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 | 04/14/24 | 0.500%(M) | 8,648 | * | $5,754 | $(56) | $5,810 | GSI |
A33
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Credit default swap agreements
outstanding at March 31, 2024 (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 | $(43,115) | $111,023 | $(154,138) | BARC | |||||||||
Credit Suisse Group AG | 06/20/26 | 1.000%(Q) | 3,000 | (43,116) | 108,294 | (151,410) | BARC | |||||||||
Credit Suisse Group AG | 06/20/26 | 1.000%(Q) | 3,000 | (43,116) | 121,820 | (164,936) | BARC | |||||||||
$(129,347) | $341,137 | $(470,484) |
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at March 31, 2024(4) | Value at Trade Date | Value at March 31, 2024 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2): | |||||||||||||||
CDX.NA.HY.41.V2 | 12/20/28 | 5.000%(Q) | 3,247 | 3.116% | $171,195 | $244,473 | $73,278 | ||||||||
CDX.NA.HY.42.V1 | 06/20/29 | 5.000%(Q) | 13,260 | 3.289% | 924,952 | 977,905 | 52,953 | ||||||||
$1,096,147 | $1,222,378 | $126,231 |
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. |
A34
PSF PGIM FLEXIBLE MANAGED
PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest rate swap agreements
outstanding at March 31, 2024:
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at March 31, 2024 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements: | ||||||||||||||
56,645 | 08/31/24 | 5.384%(T) | 1 Day SOFR(2)(T)/ 5.340% | $— | $(17,297) | $(17,297) | ||||||||
7,208 | 03/08/25 | 4.946%(A) | 1 Day SOFR(2)(A)/ 5.340% | — | (10,960) | (10,960) | ||||||||
9,116 | 03/09/25 | 5.110%(A) | 1 Day SOFR(2)(A)/ 5.340% | — | 1,050 | 1,050 | ||||||||
20,448 | 03/10/25 | 5.088%(A) | 1 Day SOFR(2)(A)/ 5.340% | — | (1,823) | (1,823) | ||||||||
29,210 | 08/31/25 | 4.805%(A) | 1 Day SOFR(1)(A)/ 5.340% | — | 117,610 | 117,610 | ||||||||
2,250 | 09/25/26 | 4.699%(A) | 1 Day SOFR(1)(A)/ 5.340% | 416 | (8,577) | (8,993) | ||||||||
$416 | $80,003 | $79,587 |
(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, 2024: | ||||||||||||||
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)/ 4.790% | JPM | 09/20/24 | (7,704) | $(94,921) | $— | $(94,921) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +25bps(T)/ 5.580% | BOA | 07/17/24 | 33,495 | (353,201) | — | (353,201) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +20bps(T)/ 5.530% | JPM | 07/18/24 | 9,385 | (98,119) | — | (98,119) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +20bps(T)/ 5.530% | JPM | 07/23/24 | 15,745 | (304,710) | — | (304,710) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +20bps(T)/ 5.530% | GSI | 07/24/24 | 17,470 | (162,588) | — | (162,588) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +20bps(T)/ 5.530% | JPM | 07/29/24 | 14,990 | (100,088) | — | (100,088) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +20bps(T)/ 5.530% | GSI | 07/29/24 | 23,175 | (283,936) | — | (283,936) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +22bps(T)/ 5.550% | BOA | 08/12/24 | 27,440 | 67,987 | — | 67,987 | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +20bps(T)/ 5.530% | JPM | 08/23/24 | 18,765 | 334,905 | — | 334,905 | |||||||
$(994,671) | $— | $(994,671) |
(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).
A35