PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 75.4% | |||||
Corporate Bonds 2.3% | |||||
Brazil 0.1% | |||||
JSM Global Sarl, Gtd. Notes, 144A | 4.750 % | 10/20/30(d) | 200 | $32,500 | |
Jamaica 0.2% | |||||
Digicel Ltd., Gtd. Notes (original cost $217,321; purchased 04/19/18)(f) | 6.750 | 03/01/23 | 235 | 91,254 | |
Malaysia 0.4% | |||||
Gohl Capital Ltd., Gtd. Notes | 4.250 | 01/24/27 | 200 | 183,750 | |
Mexico 0.4% | |||||
Petroleos Mexicanos, | |||||
Gtd. Notes | 6.490 | 01/23/27 | 55 | 51,450 | |
Gtd. Notes, MTN | 6.875 | 08/04/26 | 105 | 102,175 | |
153,625 | |||||
South Africa 0.9% | |||||
Eskom Holdings SOC Ltd., Sr. Unsec’d. Notes, 144A, MTN | 6.750 | 08/06/23 | 200 | 195,925 | |
Sasol Financing USA LLC, Gtd. Notes | 5.875 | 03/27/24 | 200 | 197,190 | |
393,115 | |||||
Supranational Bank 0.3% | |||||
European Investment Bank, Sr. Unsec’d. Notes, EMTN | 3.000 | 05/24/24 | PLN | 600 | 131,283 |
Total Corporate Bonds (cost $1,366,463) | 985,527 | ||||
Foreign Treasury Obligation 0.3% | |||||
Brazil | |||||
Brazil Letras do Tesouro Nacional, Bills, Series LTN (cost $117,234) | 6.144(s) | 01/01/24 | BRL | 1 | 117,349 |
1
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds 72.8% | |||||
Angola 0.5% | |||||
Angolan Government International Bond, Sr. Unsec’d. Notes | 9.500 % | 11/12/25 | 200 | $208,750 | |
Argentina 0.1% | |||||
Argentine Republic Government International Bond, | |||||
Sr. Unsec’d. Notes | 1.000 | 07/09/29 | 24 | 8,100 | |
Sr. Unsec’d. Notes | 3.875(cc) | 01/09/38 | 32 | 11,665 | |
Provincia de Buenos Aires, Sr. Unsec’d. Notes, 144A, MTN | 5.250(cc) | 09/01/37 | 101 | 39,706 | |
59,471 | |||||
Brazil 3.0% | |||||
Brazil Minas SPE via State of Minas Gerais, Gov’t. Gtd. Notes | 5.333 | 02/15/28 | 141 | 137,854 | |
Brazil Notas do Tesouro Nacional, | |||||
Notes, Series NTNB | 6.000 | 08/15/30 | BRL | 2 | 366,166 |
Notes, Series NTNB | 6.000 | 05/15/35 | BRL | 1 | 100,051 |
Notes, Series NTNF | 10.000 | 01/01/25 | BRL | 1 | 116,080 |
Notes, Series NTNF | 10.000 | 01/01/27 | BRL | 3 | 537,317 |
Notes, Series NTNF | 10.000 | 01/01/31 | BRL | — | 33,789 |
Brazilian Government International Bond, Sr. Unsec’d. Notes | 8.500 | 01/05/24 | BRL | 54 | 10,209 |
1,301,466 | |||||
Chile 1.4% | |||||
Bonos de la Tesoreria de la Republica en pesos, | |||||
Bonds | 5.000 | 03/01/35 | CLP | 115,000 | 138,764 |
Bonds, 144A | 5.000 | 10/01/28 | CLP | 110,000 | 134,706 |
Bonds, Series 30YR | 6.000 | 01/01/43 | CLP | 135,000 | 181,215 |
Unsec’d. Notes, 144A | 2.800 | 10/01/33 | CLP | 50,000 | 50,248 |
Unsec’d. Notes, 144A | 4.700 | 09/01/30 | CLP | 95,000 | 113,340 |
618,273 | |||||
China 5.2% | |||||
China Government Bond, | |||||
Bonds, Series 1906 | 3.290 | 05/23/29 | CNH | 3,690 | 566,109 |
Bonds, Series 1910 | 3.860 | 07/22/49 | CNH | 680 | 110,366 |
Bonds, Series INBK | 1.990 | 04/09/25 | CNH | 5,500 | 806,168 |
Bonds, Series INBK | 2.850 | 06/04/27 | CNH | 1,250 | 186,372 |
2
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
China (cont’d.) | |||||
China Government Bond, (cont’d.) | |||||
Bonds, Series INBK | 3.270 % | 11/19/30 | CNH | 2,890 | $443,884 |
Unsec’d. Notes, Series INBK | 3.810 | 09/14/50 | CNH | 770 | 124,232 |
2,237,131 | |||||
Colombia 4.4% | |||||
Colombian TES, | |||||
Bonds, Series B | 5.750 | 11/03/27 | COP | 250,000 | 41,815 |
Bonds, Series B | 6.000 | 04/28/28 | COP | 1,221,000 | 202,344 |
Bonds, Series B | 6.250 | 07/09/36 | COP | 1,644,000 | 215,005 |
Bonds, Series B | 7.000 | 03/26/31 | COP | 2,281,200 | 362,032 |
Bonds, Series B | 7.000 | 06/30/32 | COP | 2,648,100 | 404,725 |
Bonds, Series B | 7.250 | 10/18/34 | COP | 1,405,800 | 209,023 |
Bonds, Series B | 7.250 | 10/26/50 | COP | 210,000 | 27,366 |
Bonds, Series B | 7.750 | 09/18/30 | COP | 500,000 | 84,082 |
Bonds, Series B | 9.250 | 05/28/42 | COP | 1,094,100 | 180,216 |
Bonds, Series G | 7.000 | 03/26/31 | COP | 759,800 | 120,305 |
Sr. Unsec’d. Notes, Series UVR | 3.750 | 06/16/49 | COP | 213,098 | 36,611 |
1,883,524 | |||||
Czech Republic 3.2% | |||||
Czech Republic Government Bond, | |||||
Bonds, Series 049 | 4.200 | 12/04/36 | CZK | 2,950 | 128,243 |
Bonds, Series 078 | 2.500 | 08/25/28 | CZK | 2,100 | 85,251 |
Bonds, Series 094 | 0.950 | 05/15/30 | CZK | 8,770 | 308,725 |
Bonds, Series 100 | 0.250 | 02/10/27 | CZK | 5,410 | 205,024 |
Bonds, Series 103 | 2.000 | 10/13/33 | CZK | 9,290 | 330,677 |
Bonds, Series 105 | 2.750 | 07/23/29 | CZK | 3,500 | 141,962 |
Bonds, Series 121 | 1.200 | 03/13/31 | CZK | 5,770 | 202,113 |
1,401,995 | |||||
Hungary 3.6% | |||||
Hungary Government Bond, | |||||
Bonds, Series 26/D | 2.750 | 12/22/26 | HUF | 226,920 | 494,466 |
Bonds, Series 26/E | 1.500 | 04/22/26 | HUF | 59,060 | 127,458 |
Bonds, Series 26/F | 1.500 | 08/26/26 | HUF | 65,380 | 137,640 |
Bonds, Series 27/A | 3.000 | 10/27/27 | HUF | 42,680 | 91,728 |
Bonds, Series 28/A | 6.750 | 10/22/28 | HUF | 35,160 | 89,327 |
Bonds, Series 28/B | 4.500 | 03/23/28 | HUF | 20,430 | 46,820 |
Bonds, Series 29/A | 2.000 | 05/23/29 | HUF | 128,070 | 252,122 |
3
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Hungary (cont’d.) | |||||
Hungary Government Bond, (cont’d.) | |||||
Bonds, Series 31/A | 3.250 % | 10/22/31 | HUF | 33,070 | $65,093 |
Bonds, Series 32/A | 4.750 | 11/24/32 | HUF | 45,870 | 99,708 |
Bonds, Series 34/A | 2.250 | 06/22/34 | HUF | 55,760 | 90,832 |
Bonds, Series 38/A | 3.000 | 10/27/38 | HUF | 21,890 | 35,147 |
Bonds, Series 51/G | 4.000 | 04/28/51 | HUF | 29,330 | 47,526 |
1,577,867 | |||||
Indonesia 11.0% | |||||
Indonesia Treasury Bond, | |||||
Bonds, Series 056 | 8.375 | 09/15/26 | IDR | 6,596,000 | 468,628 |
Bonds, Series 059 | 7.000 | 05/15/27 | IDR | 2,362,000 | 161,288 |
Bonds, Series 064 | 6.125 | 05/15/28 | IDR | 8,837,000 | 580,683 |
Bonds, Series 068 | 8.375 | 03/15/34 | IDR | 8,238,000 | 610,934 |
Bonds, Series 070 | 8.375 | 03/15/24 | IDR | 1,410,000 | 96,352 |
Bonds, Series 071 | 9.000 | 03/15/29 | IDR | 3,640,000 | 272,403 |
Bonds, Series 072 | 8.250 | 05/15/36 | IDR | 3,843,000 | 284,977 |
Bonds, Series 073 | 8.750 | 05/15/31 | IDR | 6,870,000 | 515,594 |
Bonds, Series 075 | 7.500 | 05/15/38 | IDR | 3,754,000 | 262,527 |
Bonds, Series 078 | 8.250 | 05/15/29 | IDR | 6,284,000 | 453,695 |
Bonds, Series 079 | 8.375 | 04/15/39 | IDR | 1,850,000 | 139,404 |
Bonds, Series 081 | 6.500 | 06/15/25 | IDR | 993,000 | 66,651 |
Bonds, Series 082 | 7.000 | 09/15/30 | IDR | 8,415,000 | 572,040 |
Bonds, Series 087 | 6.500 | 02/15/31 | IDR | 2,956,000 | 194,800 |
Bonds, Series 092 | 7.125 | 06/15/42 | IDR | 1,354,000 | 91,787 |
4,771,763 | |||||
Malaysia 4.6% | |||||
Malaysia Government Bond, | |||||
Bonds, Series 0120 | 4.065 | 06/15/50 | MYR | 880 | 196,561 |
Bonds, Series 0222 | 4.696 | 10/15/42 | MYR | 755 | 188,586 |
Bonds, Series 0419 | 3.828 | 07/05/34 | MYR | 810 | 186,337 |
Bonds, Series 0519 | 3.757 | 05/22/40 | MYR | 910 | 201,876 |
Bonds, Series 115 | 3.955 | 09/15/25 | MYR | 680 | 161,274 |
Bonds, Series 118 | 3.882 | 03/14/25 | MYR | 567 | 134,109 |
Bonds, Series 219 | 3.885 | 08/15/29 | MYR | 2,015 | 475,036 |
Bonds, Series 317 | 4.762 | 04/07/37 | MYR | 842 | 210,536 |
Bonds, Series 411 | 4.232 | 06/30/31 | MYR | 280 | 67,328 |
Bonds, Series 413 | 3.844 | 04/15/33 | MYR | 390 | 90,569 |
4
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Malaysia (cont’d.) | |||||
Malaysia Government Investment Issue, Bonds, Series 0121 | 3.447 % | 07/15/36 | MYR | 430 | $94,226 |
2,006,438 | |||||
Mexico 4.1% | |||||
Mexican Bonos, | |||||
Bonds, Series M | 7.750 | 05/29/31 | MXN | 91 | 456,505 |
Bonds, Series M | 8.000 | 11/07/47 | MXN | 68 | 332,966 |
Bonds, Series M30 | 10.000 | 11/20/36 | MXN | 17 | 100,825 |
Sr. Unsec’d. Notes, Series M | 7.750 | 11/13/42 | MXN | 76 | 364,500 |
Sr. Unsec’d. Notes, Series M30 | 8.500 | 11/18/38 | MXN | 73 | 379,277 |
Mexican Udibonos, Bonds, Series S | 2.750 | 11/27/31 | MXN | 4 | 155,254 |
1,789,327 | |||||
Peru 1.6% | |||||
Peru Government Bond, | |||||
Bonds | 6.900 | 08/12/37 | PEN | 260 | 60,196 |
Bonds | 6.950 | 08/12/31 | PEN | 190 | 46,313 |
Sr. Unsec’d. Notes | 5.350 | 08/12/40 | PEN | 540 | 103,455 |
Sr. Unsec’d. Notes | 5.400 | 08/12/34 | PEN | 1,080 | 223,836 |
Sr. Unsec’d. Notes | 6.150 | 08/12/32 | PEN | 393 | 89,319 |
Peruvian Government International Bond, | |||||
Sr. Unsec’d. Notes | 6.850 | 02/12/42 | PEN | 245 | 55,511 |
Sr. Unsec’d. Notes | 6.900 | 08/12/37 | PEN | 7 | 1,616 |
Sr. Unsec’d. Notes | 6.950 | 08/12/31 | PEN | 478 | 116,513 |
696,759 | |||||
Philippines 0.2% | |||||
Philippine Government Bond, Bonds, Series 1060 | 3.625 | 09/09/25 | PHP | 5,600 | 97,132 |
Poland 6.5% | |||||
Republic of Poland Government Bond, | |||||
Bonds, Series 0428 | 2.750 | 04/25/28 | PLN | 1,480 | 293,185 |
Bonds, Series 0432 | 1.750 | 04/25/32 | PLN | 710 | 115,735 |
Bonds, Series 0725 | 3.250 | 07/25/25 | PLN | 4,301 | 928,900 |
Bonds, Series 0726 | 2.500 | 07/25/26 | PLN | 3,925 | 807,109 |
Bonds, Series 1026 | 0.250 | 10/25/26 | PLN | 280 | 52,487 |
Bonds, Series 1029 | 2.750 | 10/25/29 | PLN | 2,420 | 462,804 |
5
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Poland (cont’d.) | |||||
Republic of Poland Government Bond, (cont’d.) | |||||
Bonds, Series 1030 | 1.250 % | 10/25/30 | PLN | 750 | $123,952 |
Republic of Poland Government International Bond, Sr. Unsec’d. Notes | 5.500 | 11/16/27 | 25 | 25,805 | |
2,809,977 | |||||
Romania 1.9% | |||||
Romania Government Bond, | |||||
Bonds, Series 05YR | 4.250 | 04/28/36 | RON | 870 | 139,758 |
Bonds, Series 07YR | 3.250 | 04/29/24 | RON | 750 | 158,574 |
Bonds, Series 07YR | 4.850 | 04/22/26 | RON | 980 | 201,233 |
Bonds, Series 10YR | 5.850 | 04/26/23 | RON | 460 | 101,413 |
Bonds, Series 10YR | 6.700 | 02/25/32 | RON | 650 | 136,841 |
Bonds, Series 15YR | 3.650 | 09/24/31 | RON | 590 | 100,165 |
837,984 | |||||
Serbia 0.5% | |||||
Serbia International Bond, Sr. Unsec’d. Notes | 3.125 | 05/15/27 | EUR | 100 | 96,913 |
Serbia Treasury Bonds, | |||||
Bonds, Series 07YR | 4.500 | 01/11/26 | RSD | 9,460 | 83,693 |
Bonds, Series 12.5 | 4.500 | 08/20/32 | RSD | 6,240 | 47,917 |
228,523 | |||||
South Africa 13.4% | |||||
Republic of South Africa Government Bond, | |||||
Sr. Unsec’d. Notes, Series 2030 | 8.000 | 01/31/30 | ZAR | 17,645 | 928,630 |
Sr. Unsec’d. Notes, Series 2032 | 8.250 | 03/31/32 | ZAR | 8,470 | 427,752 |
Sr. Unsec’d. Notes, Series 2035 | 8.875 | 02/28/35 | ZAR | 13,864 | 687,574 |
Sr. Unsec’d. Notes, Series 2037 | 8.500 | 01/31/37 | ZAR | 17,928 | 835,594 |
Sr. Unsec’d. Notes, Series 2040 | 9.000 | 01/31/40 | ZAR | 6,530 | 309,320 |
Sr. Unsec’d. Notes, Series 2044 | 8.750 | 01/31/44 | ZAR | 9,460 | 428,666 |
Sr. Unsec’d. Notes, Series 2048 | 8.750 | 02/28/48 | ZAR | 2,955 | 134,118 |
Sr. Unsec’d. Notes, Series R186 | 10.500 | 12/21/26 | ZAR | 20,149 | 1,247,109 |
Sr. Unsec’d. Notes, Series R209 | 6.250 | 03/31/36 | ZAR | 3,850 | 149,148 |
Sr. Unsec’d. Notes, Series R213 | 7.000 | 02/28/31 | ZAR | 10,845 | 517,944 |
Sr. Unsec’d. Notes, Series R214 | 6.500 | 02/28/41 | ZAR | 4,565 | 166,635 |
5,832,490 |
6
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Thailand 7.3% | |||||
Thailand Government Bond, | |||||
Bonds | 1.600 % | 12/17/29 | THB | 3,885 | $112,690 |
Bonds | 2.000 | 06/17/42 | THB | 2,080 | 52,969 |
Bonds | 2.875 | 12/17/28 | THB | 12,015 | 377,971 |
Bonds | 2.875 | 06/17/46 | THB | 3,065 | 87,337 |
Bonds | 3.300 | 06/17/38 | THB | 8,815 | 277,388 |
Bonds | 3.400 | 06/17/36 | THB | 9,585 | 308,514 |
Sr. Unsec’d. Notes | 1.585 | 12/17/35 | THB | 3,120 | 82,673 |
Sr. Unsec’d. Notes | 1.600 | 06/17/35 | THB | 2,700 | 71,978 |
Sr. Unsec’d. Notes | 1.875 | 06/17/49 | THB | 1,063 | 24,157 |
Sr. Unsec’d. Notes | 2.000 | 12/17/31 | THB | 24,635 | 719,936 |
Sr. Unsec’d. Notes | 2.125 | 12/17/26 | THB | 8,340 | 254,309 |
Sr. Unsec’d. Notes | 3.350 | 06/17/33 | THB | 6,230 | 202,355 |
Sr. Unsec’d. Notes | 3.650 | 06/20/31 | THB | 2,559 | 84,257 |
Sr. Unsec’d. Notes | 3.775 | 06/25/32 | THB | 15,085 | 505,109 |
3,161,643 | |||||
Ukraine 0.2% | |||||
Ukraine Government International Bond, | |||||
Sr. Unsec’d. Notes | 6.750 | 06/20/28(d) | EUR | 150 | 30,658 |
Sr. Unsec’d. Notes | 7.750 | 09/01/26(d) | 222 | 47,702 | |
78,360 | |||||
Uruguay 0.1% | |||||
Uruguay Government International Bond, Sr. Unsec’d. Notes, 144A | 8.500 | 03/15/28 | UYU | 1,870 | 45,144 |
Total Sovereign Bonds (cost $35,088,172) | 31,644,017 | ||||
Total Long-Term Investments (cost $36,571,869) | 32,746,893 |
Principal Amount (000)# | |||||
Short-Term Investments 34.2% | |||||
U.S. Treasury Obligation(n) 4.8% | |||||
U.S. Treasury Bills (cost $2,080,615) | 3.974 % | 09/07/23 | 2,130 | 2,070,698 |
7
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Unaffiliated Fund 29.4% | |||||
Dreyfus Government Cash Management (Institutional Shares) (cost $12,768,503) | 12,768,503 | $12,768,503 | |||
Options Purchased*~ 0.0% | |||||
(cost $32,765) | 12,813 | ||||
Total Short-Term Investments (cost $14,881,883) | 14,852,014 | ||||
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 109.6% (cost $51,453,752) | 47,598,907 | ||||
Options Written*~ (0.2)% | |||||
(premiums received $55,240) | (69,070) | ||||
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 109.4% (cost $51,398,512) | 47,529,837 | ||||
Liabilities in excess of other assets(z) (9.4)% | (4,101,210) | ||||
Net Assets 100.0% | $43,428,627 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
AUD—Australian Dollar | |
BRL—Brazilian Real | |
CAD—Canadian Dollar | |
CLP—Chilean Peso | |
CNH—Chinese Renminbi | |
COP—Colombian Peso | |
CZK—Czech Koruna | |
EGP—Egyptian Pound | |
EUR—Euro | |
HUF—Hungarian Forint | |
IDR—Indonesian Rupiah | |
ILS—Israeli Shekel | |
INR—Indian Rupee | |
JPY—Japanese Yen | |
KRW—South Korean Won | |
MXN—Mexican Peso | |
MYR—Malaysian Ringgit | |
NZD—New Zealand Dollar | |
PEN—Peruvian Nuevo Sol | |
PHP—Philippine Peso | |
PLN—Polish Zloty | |
RON—Romanian Leu | |
RSD—Serbian Dinar | |
SGD—Singapore Dollar | |
THB—Thai Baht | |
TRY—Turkish Lira | |
TWD—New Taiwanese Dollar |
8
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
USD—US Dollar | |
UYU—Uruguayan Peso | |
ZAR—South African Rand |
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 | |
BARC—Barclays Bank PLC | |
BNP—BNP Paribas S.A. | |
BOA—Bank of America, N.A. | |
BROIS—Brazil Overnight Index Swap | |
BUBOR—Budapest Interbank Offered Rate | |
CDX—Credit Derivative Index | |
CITI—Citibank, N.A. | |
CLOIS—Sinacofi Chile Interbank Rate Average | |
COOIS—Colombia Overnight Interbank Reference Rate | |
DB—Deutsche Bank AG | |
EMTN—Euro Medium Term Note | |
GSI—Goldman Sachs International | |
HSBC—HSBC Bank PLC | |
JIBAR—Johannesburg Interbank Agreed Rate | |
JPM—JPMorgan Chase Bank N.A. | |
KLIBOR—Kuala Lumpur Interbank Offered Rate | |
KWCDC—Korean Won Certificate of Deposit | |
M—Monthly payment frequency for swaps | |
MSI—Morgan Stanley & Co International PLC | |
MTN—Medium Term Note | |
OTC—Over-the-counter | |
PRIBOR—Prague Interbank Offered Rate | |
Q—Quarterly payment frequency for swaps | |
S—Semiannual payment frequency for swaps | |
SCB—Standard Chartered Bank | |
T—Swap payment upon termination | |
TD—The Toronto-Dominion Bank | |
TELBOR—Tel Aviv Interbank Offered Rate | |
UAG—UBS AG | |
WIBOR—Warsaw Interbank Offered Rate |
* | 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. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of January 31, 2023. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
(f) | Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $217,321. The aggregate value of $91,254 is 0.2% of net assets. |
(n) | Rate shown reflects yield to maturity at purchased date. |
(s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
9
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Options Purchased:
OTC Traded | ||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Contracts | Notional Amount (000)# | Value | |||||||||
Currency Option AUD vs USD | Call | JPM | 02/09/23 | 0.75 | — | AUD | 663 | $26 | ||||||||
Currency Option EUR vs HUF | Call | MSI | 02/09/23 | 500.00 | — | EUR | 317 | — | ||||||||
Currency Option USD vs BRL | Call | JPM | 02/07/23 | 6.25 | — | 156 | — | |||||||||
Currency Option USD vs BRL | Call | JPM | 02/07/23 | 6.60 | — | 156 | — | |||||||||
Currency Option USD vs CLP | Call | JPM | 02/07/23 | 1,100.00 | — | 156 | — | |||||||||
Currency Option USD vs COP | Call | MSI | 02/07/23 | 6,200.00 | — | 311 | — | |||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 21.30 | — | 317 | 1 | |||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 22.00 | — | 311 | — | |||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 22.00 | — | 311 | — | |||||||||
Currency Option USD vs MXN | Call | MSI | 02/16/23 | 22.50 | — | 311 | 3 | |||||||||
Currency Option USD vs MXN | Call | MSI | 06/02/23 | 20.25 | — | 974 | 10,459 | |||||||||
Currency Option USD vs ZAR | Call | MSI | 02/07/23 | 20.00 | — | 311 | 2 | |||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 20.00 | — | 311 | 5 | |||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 20.30 | — | 159 | 1 | |||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 20.30 | — | 150 | 1 | |||||||||
Currency Option USD vs ZAR | Call | JPM | 02/24/23 | 23.00 | — | 800 | 7 | |||||||||
Currency Option USD vs ZAR | Call | JPM | 04/21/23 | 24.00 | — | 1,190 | 267 | |||||||||
Currency Option EUR vs HUF | Put | BOA | 02/09/23 | 368.00 | — | EUR | 207 | 7 | ||||||||
Currency Option USD vs BRL | Put | JPM | 02/15/23 | 4.30 | — | 319 | — | |||||||||
Currency Option USD vs CLP | Put | CITI | 02/07/23 | 700.00 | — | 317 | — | |||||||||
Currency Option USD vs CNH | Put | MSI | 02/21/23 | 6.50 | — | 272 | 31 | |||||||||
Currency Option USD vs JPY | Put | JPM | 04/13/23 | 121.00 | — | 319 | 1,937 |
10
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
OTC Traded | ||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Contracts | Notional Amount (000)# | Value | |||||||||
Currency Option USD vs MXN | Put | MSI | 06/02/23 | 16.00 | — | 974 | $65 | |||||||||
Currency Option USD vs ZAR | Put | JPM | 02/16/23 | 15.00 | — | 324 | 1 | |||||||||
Total Options Purchased (cost $32,765) | $12,813 |
Options Written:
OTC Traded | |||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Contracts | Notional Amount (000)# | Value | ||||||||
Currency Option AUD vs USD | Call | JPM | 02/09/23 | 0.71 | — | AUD | 663 | $(3,129) | |||||||
Currency Option USD vs BRL | Call | JPM | 02/07/23 | 5.50 | — | 156 | (10) | ||||||||
Currency Option USD vs CLP | Call | JPM | 02/07/23 | 890.00 | — | 156 | (8) | ||||||||
Currency Option USD vs COP | Call | MSI | 02/07/23 | 5,150.00 | — | 311 | (31) | ||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 19.30 | — | 317 | (256) | ||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 19.50 | — | 311 | (110) | ||||||||
Currency Option USD vs MXN | Call | MSI | 02/16/23 | 19.20 | — | 311 | (1,140) | ||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 17.40 | — | 159 | (1,737) | ||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 17.40 | — | 311 | (3,397) | ||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 17.40 | — | 150 | (1,639) | ||||||||
Currency Option EUR vs HUF | Put | BOA | 02/09/23 | 388.00 | — | EUR | 207 | (592) | |||||||
Currency Option USD vs BRL | Put | JPM | 02/15/23 | 5.00 | — | 319 | (2,140) | ||||||||
Currency Option USD vs CLP | Put | CITI | 02/07/23 | 800.00 | — | 317 | (4,033) | ||||||||
Currency Option USD vs CNH | Put | MSI | 02/21/23 | 6.93 | — | 272 | (7,410) | ||||||||
Currency Option USD vs MXN | Put | MSI | 03/02/23 | 19.75 | — | 974 | (43,438) | ||||||||
Total Options Written (premiums received $55,240) | $(69,070) |
11
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Futures contracts outstanding at January 31, 2023: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Short Positions: | ||||||||
3 | 2 Year U.S. Treasury Notes | Mar. 2023 | $616,945 | $(2,502) | ||||
4 | 5 Year U.S. Treasury Notes | Mar. 2023 | 436,969 | (4,817) | ||||
$(7,319) |
Forward foreign currency exchange contracts outstanding at January 31, 2023:
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Australian Dollar, | |||||||||||||
Expiring 04/19/23 | JPM | AUD | 431 | $301,194 | $305,116 | $3,922 | $— | ||||||
Expiring 04/19/23 | MSI | AUD | 115 | 80,000 | 81,255 | 1,255 | — | ||||||
Brazilian Real, | |||||||||||||
Expiring 02/02/23 | BNP | BRL | 194 | 35,461 | 38,128 | 2,667 | — | ||||||
Expiring 02/02/23 | CITI | BRL | 9,403 | 1,742,331 | 1,851,444 | 109,113 | — | ||||||
Expiring 02/02/23 | CITI | BRL | 1,364 | 256,193 | 268,570 | 12,377 | — | ||||||
Expiring 02/02/23 | CITI | BRL | 872 | 169,000 | 171,717 | 2,717 | — | ||||||
Expiring 02/02/23 | CITI | BRL | 312 | 60,000 | 61,424 | 1,424 | — | ||||||
Expiring 02/02/23 | CITI | BRL | 138 | 25,407 | 27,117 | 1,710 | — | ||||||
Expiring 02/02/23 | MSI | BRL | 527 | 99,201 | 103,716 | 4,515 | — | ||||||
Expiring 02/02/23 | MSI | BRL | 336 | 61,840 | 66,185 | 4,345 | — | ||||||
Expiring 02/02/23 | MSI | BRL | 309 | 58,232 | 60,814 | 2,582 | — | ||||||
Expiring 03/02/23 | CITI | BRL | 12,478 | 2,443,397 | 2,445,816 | 2,419 | — | ||||||
Expiring 03/02/23 | CITI | BRL | 4,584 | 895,536 | 898,467 | 2,931 | — | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/19/23 | BOA | CAD | 301 | 224,359 | 226,073 | 1,714 | — | ||||||
Chilean Peso, | |||||||||||||
Expiring 03/15/23 | MSI | CLP | 67,498 | 75,000 | 84,217 | 9,217 | — | ||||||
Chinese Renminbi, | |||||||||||||
Expiring 02/23/23 | BOA | CNH | 3,809 | 536,000 | 564,660 | 28,660 | — | ||||||
Expiring 02/23/23 | CITI | CNH | 358 | 53,096 | 53,114 | 18 | — | ||||||
Expiring 02/23/23 | HSBC | CNH | 2,666 | 395,000 | 395,248 | 248 | — | ||||||
Expiring 02/23/23 | HSBC | CNH | 2,334 | 334,000 | 346,065 | 12,065 | — | ||||||
Expiring 02/23/23 | JPM | CNH | 1,155 | 164,225 | 171,302 | 7,077 | — | ||||||
Expiring 02/23/23 | SCB | CNH | 3,031 | 449,000 | 449,282 | 282 | — | ||||||
Expiring 02/23/23 | TD | CNH | 108 | 15,534 | 16,004 | 470 | — | ||||||
Colombian Peso, | |||||||||||||
Expiring 03/15/23 | BARC | COP | 761,766 | 153,000 | 161,744 | 8,744 | — | ||||||
Expiring 03/15/23 | BARC | COP | 636,790 | 126,000 | 135,208 | 9,208 | — | ||||||
Expiring 03/15/23 | BARC | COP | 402,490 | 83,000 | 85,460 | 2,460 | — | ||||||
Expiring 03/15/23 | BNP | COP | 1,114,544 | 228,814 | 236,649 | 7,835 | — |
12
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Colombian Peso (cont’d.), | |||||||||||||
Expiring 03/15/23 | BNP | COP | 666,447 | $135,968 | $141,505 | $5,537 | $— | ||||||
Expiring 03/15/23 | BNP | COP | 121,359 | 24,418 | 25,768 | 1,350 | — | ||||||
Expiring 03/15/23 | CITI | COP | 3,507,971 | 749,695 | 744,840 | — | (4,855) | ||||||
Expiring 03/15/23 | CITI | COP | 780,504 | 170,000 | 165,723 | — | (4,277) | ||||||
Expiring 03/15/23 | CITI | COP | 728,157 | 156,000 | 154,608 | — | (1,392) | ||||||
Expiring 03/15/23 | CITI | COP | 650,000 | 141,325 | 138,013 | — | (3,312) | ||||||
Expiring 03/15/23 | CITI | COP | 88,279 | 17,625 | 18,744 | 1,119 | — | ||||||
Expiring 03/15/23 | MSI | COP | 229,100 | 45,929 | 48,644 | 2,715 | — | ||||||
Expiring 03/15/23 | MSI | COP | 153,463 | 31,255 | 32,584 | 1,329 | — | ||||||
Expiring 03/15/23 | UAG | COP | 378,884 | 80,000 | 80,448 | 448 | — | ||||||
Czech Koruna, | |||||||||||||
Expiring 04/19/23 | HSBC | CZK | 18,055 | 808,632 | 821,828 | 13,196 | — | ||||||
Expiring 04/19/23 | HSBC | CZK | 8,788 | 399,307 | 400,021 | 714 | — | ||||||
Expiring 04/19/23 | MSI | CZK | 7,815 | 352,000 | 355,728 | 3,728 | — | ||||||
Egyptian Pound, | |||||||||||||
Expiring 02/28/23 | CITI | EGP | 2,108 | 68,555 | 68,154 | — | (401) | ||||||
Expiring 02/28/23 | CITI | EGP | 1,222 | 48,000 | 39,505 | — | (8,495) | ||||||
Expiring 02/28/23 | MSI | EGP | 3,050 | 119,335 | 98,600 | — | (20,735) | ||||||
Expiring 02/28/23 | MSI | EGP | 1,549 | 61,035 | 50,085 | — | (10,950) | ||||||
Expiring 01/10/24 | CITI | EGP | 1,981 | 61,346 | 57,623 | — | (3,723) | ||||||
Expiring 01/10/24 | CITI | EGP | 703 | 20,562 | 20,438 | — | (124) | ||||||
Euro, | |||||||||||||
Expiring 04/19/23 | MSI | EUR | 191 | 209,272 | 208,656 | — | (616) | ||||||
Hungarian Forint, | |||||||||||||
Expiring 04/19/23 | BARC | HUF | 14,374 | 37,899 | 38,981 | 1,082 | — | ||||||
Expiring 04/19/23 | BOA | HUF | 43,471 | 116,101 | 117,889 | 1,788 | — | ||||||
Expiring 04/19/23 | HSBC | HUF | 133,447 | 349,617 | 361,898 | 12,281 | — | ||||||
Expiring 04/19/23 | JPM | HUF | 181,155 | 490,643 | 491,278 | 635 | — | ||||||
Expiring 04/19/23 | JPM | HUF | 53,453 | 141,942 | 144,961 | 3,019 | — | ||||||
Expiring 04/19/23 | TD | HUF | 80,180 | 213,759 | 217,441 | 3,682 | — | ||||||
Indian Rupee, | |||||||||||||
Expiring 03/15/23 | HSBC | INR | 6,713 | 82,000 | 81,830 | — | (170) | ||||||
Expiring 03/15/23 | JPM | INR | 25,897 | 313,000 | 315,701 | 2,701 | — | ||||||
Indonesian Rupiah, | |||||||||||||
Expiring 03/15/23 | CITI | IDR | 21,394,601 | 1,423,460 | 1,425,265 | 1,805 | — | ||||||
Expiring 03/15/23 | CITI | IDR | 1,202,040 | 80,000 | 80,077 | 77 | — | ||||||
Expiring 03/15/23 | HSBC | IDR | 5,096,685 | 330,000 | 339,531 | 9,531 | — | ||||||
Expiring 03/15/23 | JPM | IDR | 4,605,706 | 293,338 | 306,822 | 13,484 | — | ||||||
Expiring 03/15/23 | JPM | IDR | 1,892,344 | 120,187 | 126,064 | 5,877 | — | ||||||
Expiring 03/15/23 | JPM | IDR | 1,212,636 | 78,000 | 80,783 | 2,783 | — | ||||||
Expiring 03/15/23 | MSI | IDR | 1,322,797 | 85,397 | 88,122 | 2,725 | — | ||||||
Expiring 03/15/23 | MSI | IDR | 1,218,575 | 79,000 | 81,179 | 2,179 | — |
13
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Indonesian Rupiah (cont’d.), | |||||||||||||
Expiring 03/15/23 | SCB | IDR | 6,319,828 | $406,000 | $421,014 | $15,014 | $— | ||||||
Israeli Shekel, | |||||||||||||
Expiring 03/15/23 | BARC | ILS | 892 | 265,000 | 258,731 | — | (6,269) | ||||||
Expiring 03/15/23 | BARC | ILS | 269 | 80,000 | 78,021 | — | (1,979) | ||||||
Expiring 03/15/23 | CITI | ILS | 1,191 | 350,000 | 345,452 | — | (4,548) | ||||||
Expiring 03/15/23 | CITI | ILS | 1,167 | 347,000 | 338,679 | — | (8,321) | ||||||
Expiring 03/15/23 | CITI | ILS | 543 | 155,000 | 157,524 | 2,524 | — | ||||||
Expiring 03/15/23 | HSBC | ILS | 1,407 | 407,611 | 408,144 | 533 | — | ||||||
Expiring 03/15/23 | JPM | ILS | 542 | 155,000 | 157,380 | 2,380 | — | ||||||
Japanese Yen, | |||||||||||||
Expiring 04/19/23 | GSI | JPY | 9,630 | 76,032 | 74,793 | — | (1,239) | ||||||
Malaysian Ringgit, | |||||||||||||
Expiring 03/15/23 | BARC | MYR | 7,447 | 1,702,728 | 1,753,239 | 50,511 | — | ||||||
Expiring 03/15/23 | BARC | MYR | 2,513 | 591,820 | 591,750 | — | (70) | ||||||
Expiring 03/15/23 | MSI | MYR | 423 | 100,000 | 99,541 | — | (459) | ||||||
Expiring 03/15/23 | MSI | MYR | 414 | 95,004 | 97,408 | 2,404 | — | ||||||
Mexican Peso, | |||||||||||||
Expiring 03/15/23 | BARC | MXN | 1,543 | 81,000 | 81,311 | 311 | — | ||||||
Expiring 03/15/23 | BOA | MXN | 1,512 | 75,000 | 79,651 | 4,651 | — | ||||||
Expiring 03/15/23 | CITI | MXN | 16,226 | 855,582 | 854,975 | — | (607) | ||||||
Expiring 03/15/23 | CITI | MXN | 6,366 | 336,000 | 335,442 | — | (558) | ||||||
Expiring 03/15/23 | CITI | MXN | 5,344 | 273,870 | 281,608 | 7,738 | — | ||||||
Expiring 03/15/23 | CITI | MXN | 4,117 | 218,000 | 216,926 | — | (1,074) | ||||||
Expiring 03/15/23 | DB | MXN | 1,519 | 80,000 | 80,059 | 59 | — | ||||||
Expiring 03/15/23 | GSI | MXN | 4,003 | 204,000 | 210,902 | 6,902 | — | ||||||
Expiring 03/15/23 | HSBC | MXN | 23,785 | 1,255,907 | 1,253,287 | — | (2,620) | ||||||
Expiring 03/15/23 | HSBC | MXN | 1,578 | 82,000 | 83,124 | 1,124 | — | ||||||
Expiring 03/15/23 | HSBC | MXN | 1,225 | 62,070 | 64,549 | 2,479 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 14,251 | 708,293 | 750,910 | 42,617 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 7,519 | 384,000 | 396,209 | 12,209 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 6,162 | 323,000 | 324,682 | 1,682 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 1,510 | 75,000 | 79,579 | 4,579 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 1,500 | 75,000 | 79,031 | 4,031 | — | ||||||
Expiring 03/15/23 | MSI | MXN | 1,557 | 82,000 | 82,046 | 46 | — | ||||||
Expiring 03/15/23 | MSI | MXN | 979 | 51,932 | 51,587 | — | (345) | ||||||
Expiring 03/15/23 | MSI | MXN | 977 | 48,745 | 51,477 | 2,732 | — | ||||||
New Taiwanese Dollar, | |||||||||||||
Expiring 03/15/23 | BOA | TWD | 13,815 | 463,000 | 462,703 | — | (297) | ||||||
Expiring 03/15/23 | GSI | TWD | 12,680 | 424,630 | 424,670 | 40 | — | ||||||
Expiring 03/15/23 | JPM | TWD | 8,266 | 271,000 | 276,835 | 5,835 | — | ||||||
Expiring 03/15/23 | MSI | TWD | 9,841 | 323,000 | 329,581 | 6,581 | — | ||||||
Expiring 03/15/23 | MSI | TWD | 7,294 | 242,000 | 244,301 | 2,301 | — |
14
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
New Zealand Dollar, | |||||||||||||
Expiring 04/19/23 | BARC | NZD | 128 | $83,000 | $82,792 | $— | $(208) | ||||||
Peruvian Nuevo Sol, | |||||||||||||
Expiring 03/15/23 | MSI | PEN | 613 | 158,704 | 158,817 | 113 | — | ||||||
Philippine Peso, | |||||||||||||
Expiring 03/15/23 | CITI | PHP | 26,532 | 477,000 | 484,475 | 7,475 | — | ||||||
Expiring 03/15/23 | JPM | PHP | 18,021 | 321,000 | 329,061 | 8,061 | — | ||||||
Expiring 03/15/23 | SCB | PHP | 21,593 | 388,000 | 394,293 | 6,293 | — | ||||||
Expiring 03/15/23 | SCB | PHP | 18,141 | 324,000 | 331,261 | 7,261 | — | ||||||
Polish Zloty, | |||||||||||||
Expiring 04/19/23 | CITI | PLN | 1,793 | 408,545 | 411,454 | 2,909 | — | ||||||
Romanian Leu, | |||||||||||||
Expiring 04/19/23 | CITI | RON | 355 | 77,950 | 78,001 | 51 | — | ||||||
Expiring 04/19/23 | HSBC | RON | 1,617 | 355,459 | 355,806 | 347 | — | ||||||
Expiring 04/19/23 | JPM | RON | 1,027 | 222,588 | 225,886 | 3,298 | — | ||||||
Serbian Dinar, | |||||||||||||
Expiring 03/15/23 | CITI | RSD | 3,307 | 30,610 | 30,633 | 23 | — | ||||||
Singapore Dollar, | |||||||||||||
Expiring 03/15/23 | MSI | SGD | 583 | 431,620 | 444,348 | 12,728 | — | ||||||
South African Rand, | |||||||||||||
Expiring 03/15/23 | CITI | ZAR | 2,101 | 120,157 | 120,310 | 153 | — | ||||||
Expiring 03/15/23 | CITI | ZAR | 1,833 | 106,229 | 104,940 | — | (1,289) | ||||||
Expiring 03/15/23 | GSI | ZAR | 1,396 | 81,000 | 79,911 | — | (1,089) | ||||||
Expiring 03/15/23 | HSBC | ZAR | 7,209 | 412,159 | 412,719 | 560 | — | ||||||
Expiring 03/15/23 | HSBC | ZAR | 2,685 | 154,000 | 153,753 | — | (247) | ||||||
Expiring 03/15/23 | HSBC | ZAR | 1,329 | 77,649 | 76,065 | — | (1,584) | ||||||
Expiring 03/15/23 | HSBC | ZAR | 816 | 47,562 | 46,726 | — | (836) | ||||||
Expiring 03/15/23 | UAG | ZAR | 1,381 | 80,000 | 79,091 | — | (909) | ||||||
Expiring 03/15/23 | UAG | ZAR | 931 | 54,423 | 53,306 | — | (1,117) | ||||||
South Korean Won, | |||||||||||||
Expiring 03/15/23 | BOA | KRW | 99,940 | 76,000 | 81,159 | 5,159 | — | ||||||
Expiring 03/15/23 | CITI | KRW | 98,998 | 78,000 | 80,393 | 2,393 | — | ||||||
Expiring 03/15/23 | HSBC | KRW | 98,528 | 75,000 | 80,012 | 5,012 | — | ||||||
Expiring 03/15/23 | JPM | KRW | 118,855 | 91,428 | 96,519 | 5,091 | — | ||||||
Expiring 03/15/23 | JPM | KRW | 97,643 | 74,000 | 79,293 | 5,293 | — | ||||||
Expiring 03/15/23 | UAG | KRW | 431,819 | 329,000 | 350,669 | 21,669 | — | ||||||
Thai Baht, | |||||||||||||
Expiring 03/15/23 | CITI | THB | 9,285 | 268,000 | 282,521 | 14,521 | — | ||||||
Expiring 03/15/23 | CITI | THB | 1,104 | 31,240 | 33,589 | 2,349 | — | ||||||
Expiring 03/15/23 | HSBC | THB | 13,034 | 379,000 | 396,605 | 17,605 | — | ||||||
Expiring 03/15/23 | HSBC | THB | 11,635 | 357,000 | 354,030 | — | (2,970) | ||||||
Expiring 03/15/23 | HSBC | THB | 11,465 | 330,000 | 348,869 | 18,869 | — | ||||||
Expiring 03/15/23 | HSBC | THB | 10,503 | 312,000 | 319,610 | 7,610 | — |
15
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Thai Baht (cont’d.), | |||||||||||||
Expiring 03/15/23 | HSBC | THB | 9,271 | $268,000 | $282,121 | $14,121 | $— | ||||||
Expiring 03/15/23 | HSBC | THB | 655 | 18,396 | 19,940 | 1,544 | — | ||||||
Expiring 03/15/23 | SCB | THB | 2,578 | 75,495 | 78,445 | 2,950 | — | ||||||
Expiring 03/15/23 | UAG | THB | 6,432 | 196,157 | 195,732 | — | (425) | ||||||
Turkish Lira, | |||||||||||||
Expiring 03/15/23 | BARC | TRY | 2,839 | 146,096 | 147,551 | 1,455 | — | ||||||
Expiring 03/15/23 | JPM | TRY | 2,487 | 127,908 | 129,284 | 1,376 | — | ||||||
Expiring 03/15/23 | UAG | TRY | 1,769 | 92,101 | 91,946 | — | (155) | ||||||
$36,462,122 | $37,053,189 | 689,332 | (98,265) |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Australian Dollar, | |||||||||||||
Expiring 04/19/23 | BNP | AUD | 234 | $166,000 | $165,439 | $561 | $— | ||||||
Expiring 04/19/23 | BNP | AUD | 98 | 70,000 | 69,633 | 367 | — | ||||||
Expiring 04/19/23 | CITI | AUD | 114 | 80,000 | 80,570 | — | (570) | ||||||
Expiring 04/19/23 | HSBC | AUD | 173 | 122,446 | 122,665 | — | (219) | ||||||
Expiring 04/19/23 | JPM | AUD | 116 | 81,307 | 82,124 | — | (817) | ||||||
Expiring 04/19/23 | JPM | AUD | 100 | 71,004 | 70,797 | 207 | — | ||||||
Expiring 04/19/23 | MSI | AUD | 115 | 81,074 | 81,416 | — | (342) | ||||||
Brazilian Real, | |||||||||||||
Expiring 02/02/23 | BARC | BRL | 113 | 21,111 | 22,160 | — | (1,049) | ||||||
Expiring 02/02/23 | CITI | BRL | 12,478 | 2,455,345 | 2,457,010 | — | (1,665) | ||||||
Expiring 02/02/23 | TD | BRL | 863 | 163,000 | 169,944 | — | (6,944) | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/19/23 | CITI | CAD | 80 | 60,000 | 60,219 | — | (219) | ||||||
Expiring 04/19/23 | GSI | CAD | 110 | 82,000 | 82,515 | — | (515) | ||||||
Expiring 04/19/23 | JPM | CAD | 109 | 81,000 | 81,668 | — | (668) | ||||||
Chilean Peso, | |||||||||||||
Expiring 03/15/23 | BARC | CLP | 92,941 | 106,929 | 115,964 | — | (9,035) | ||||||
Expiring 03/15/23 | CITI | CLP | 144,700 | 175,000 | 180,543 | — | (5,543) | ||||||
Expiring 03/15/23 | JPM | CLP | 104,278 | 127,189 | 130,109 | — | (2,920) | ||||||
Expiring 03/15/23 | MSI | CLP | 143,448 | 163,000 | 178,981 | — | (15,981) | ||||||
Expiring 03/15/23 | MSI | CLP | 74,883 | 92,977 | 93,433 | — | (456) | ||||||
Expiring 03/15/23 | MSI | CLP | 66,167 | 75,000 | 82,557 | — | (7,557) | ||||||
Expiring 03/15/23 | UAG | CLP | 150,138 | 180,000 | 187,328 | — | (7,328) | ||||||
Chinese Renminbi, | |||||||||||||
Expiring 02/23/23 | BARC | CNH | 109 | 15,707 | 16,189 | — | (482) |
16
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Chinese Renminbi (cont’d.), | |||||||||||||
Expiring 02/23/23 | BOA | CNH | 1,865 | $272,000 | $276,538 | $— | $(4,538) | ||||||
Expiring 02/23/23 | CITI | CNH | 11,448 | 1,640,469 | 1,697,166 | — | (56,697) | ||||||
Expiring 02/23/23 | GSI | CNH | 2,170 | 316,000 | 321,712 | — | (5,712) | ||||||
Expiring 02/23/23 | JPM | CNH | 626 | 89,000 | 92,789 | — | (3,789) | ||||||
Expiring 02/23/23 | MSI | CNH | 999 | 141,000 | 148,049 | — | (7,049) | ||||||
Colombian Peso, | |||||||||||||
Expiring 03/15/23 | BARC | COP | 74,211 | 15,162 | 15,757 | — | (595) | ||||||
Expiring 03/15/23 | BNP | COP | 513,408 | 103,088 | 109,011 | — | (5,923) | ||||||
Expiring 03/15/23 | BNP | COP | 279,432 | 56,912 | 59,331 | — | (2,419) | ||||||
Expiring 03/15/23 | HSBC | COP | 466,280 | 93,569 | 99,005 | — | (5,436) | ||||||
Expiring 03/15/23 | MSI | COP | 848,553 | 172,000 | 180,172 | — | (8,172) | ||||||
Expiring 03/15/23 | UAG | COP | 835,660 | 167,000 | 177,434 | — | (10,434) | ||||||
Euro, | |||||||||||||
Expiring 04/19/23 | GSI | EUR | 112 | 122,532 | 122,354 | 178 | — | ||||||
Expiring 04/19/23 | HSBC | EUR | 173 | 188,768 | 188,986 | — | (218) | ||||||
Expiring 04/19/23 | JPM | EUR | 97 | 105,634 | 105,967 | — | (333) | ||||||
Expiring 04/19/23 | JPM | EUR | 75 | 81,872 | 81,933 | — | (61) | ||||||
Expiring 04/19/23 | MSI | EUR | 279 | 303,905 | 304,315 | — | (410) | ||||||
Expiring 04/19/23 | SCB | EUR | 262 | 284,978 | 286,359 | — | (1,381) | ||||||
Hungarian Forint, | |||||||||||||
Expiring 04/19/23 | UAG | HUF | 13,918 | 36,944 | 37,745 | — | (801) | ||||||
Indian Rupee, | |||||||||||||
Expiring 03/15/23 | CITI | INR | 4,281 | 51,440 | 52,185 | — | (745) | ||||||
Expiring 03/15/23 | GSI | INR | 11,273 | 138,000 | 137,419 | 581 | — | ||||||
Expiring 03/15/23 | JPM | INR | 23,657 | 286,000 | 288,391 | — | (2,391) | ||||||
Expiring 03/15/23 | MSI | INR | 2,147 | 26,174 | 26,168 | 6 | — | ||||||
Indonesian Rupiah, | |||||||||||||
Expiring 03/15/23 | BARC | IDR | 389,223 | 24,885 | 25,929 | — | (1,044) | ||||||
Expiring 03/15/23 | BOA | IDR | 843,928 | 56,700 | 56,221 | 479 | — | ||||||
Expiring 03/15/23 | CITI | IDR | 361,949 | 24,300 | 24,112 | 188 | — | ||||||
Expiring 03/15/23 | HSBC | IDR | 3,300,000 | 213,911 | 219,840 | — | (5,929) | ||||||
Expiring 03/15/23 | HSBC | IDR | 1,402,759 | 89,788 | 93,449 | — | (3,661) | ||||||
Expiring 03/15/23 | JPM | IDR | 5,781,393 | 387,000 | 385,145 | 1,855 | — | ||||||
Israeli Shekel, | |||||||||||||
Expiring 03/15/23 | CITI | ILS | 230 | 67,227 | 66,660 | 567 | — | ||||||
Japanese Yen, | |||||||||||||
Expiring 04/19/23 | BOA | JPY | 10,132 | 80,000 | 78,690 | 1,310 | — | ||||||
Expiring 04/19/23 | HSBC | JPY | 11,332 | 88,064 | 88,016 | 48 | — | ||||||
Expiring 04/19/23 | JPM | JPY | 9,497 | 75,000 | 73,758 | 1,242 | — | ||||||
Expiring 04/19/23 | MSI | JPY | 10,459 | 81,000 | 81,235 | — | (235) | ||||||
Malaysian Ringgit, | |||||||||||||
Expiring 03/15/23 | BARC | MYR | 98 | 22,197 | 23,071 | — | (874) |
17
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Malaysian Ringgit (cont’d.), | |||||||||||||
Expiring 03/15/23 | MSI | MYR | 571 | $135,000 | $134,507 | $493 | $— | ||||||
Expiring 03/15/23 | MSI | MYR | 534 | 125,000 | 125,780 | — | (780) | ||||||
Mexican Peso, | |||||||||||||
Expiring 03/15/23 | BARC | MXN | 325 | 16,146 | 17,128 | — | (982) | ||||||
Expiring 03/15/23 | CITI | MXN | 1,220 | 61,018 | 64,292 | — | (3,274) | ||||||
Expiring 03/15/23 | GSI | MXN | 2,542 | 129,000 | 133,934 | — | (4,934) | ||||||
Expiring 03/15/23 | HSBC | MXN | 1,577 | 83,000 | 83,072 | — | (72) | ||||||
Expiring 03/15/23 | SCB | MXN | 8,585 | 452,826 | 452,383 | 443 | — | ||||||
New Taiwanese Dollar, | |||||||||||||
Expiring 03/15/23 | BARC | TWD | 1,312 | 42,849 | 43,950 | — | (1,101) | ||||||
Expiring 03/15/23 | GSI | TWD | 12,211 | 396,000 | 408,971 | — | (12,971) | ||||||
Expiring 03/15/23 | GSI | TWD | 476 | 15,487 | 15,926 | — | (439) | ||||||
Expiring 03/15/23 | JPM | TWD | 39,863 | 1,324,120 | 1,335,067 | — | (10,947) | ||||||
Expiring 03/15/23 | MSI | TWD | 1,430 | 46,851 | 47,905 | — | (1,054) | ||||||
Expiring 03/15/23 | MSI | TWD | 1,070 | 35,361 | 35,851 | — | (490) | ||||||
New Zealand Dollar, | |||||||||||||
Expiring 04/19/23 | JPM | NZD | 128 | 83,000 | 82,916 | 84 | — | ||||||
Peruvian Nuevo Sol, | |||||||||||||
Expiring 03/15/23 | CITI | PEN | 1,347 | 348,000 | 349,041 | — | (1,041) | ||||||
Philippine Peso, | |||||||||||||
Expiring 03/15/23 | BOA | PHP | 15,085 | 276,000 | 275,457 | 543 | — | ||||||
Expiring 03/15/23 | JPM | PHP | 17,420 | 311,000 | 318,089 | — | (7,089) | ||||||
Expiring 03/15/23 | MSI | PHP | 72,436 | 1,276,863 | 1,322,684 | — | (45,821) | ||||||
Expiring 03/15/23 | MSI | PHP | 24,000 | 438,276 | 438,238 | 38 | — | ||||||
Expiring 03/15/23 | MSI | PHP | 13,993 | 255,346 | 255,510 | — | (164) | ||||||
Expiring 03/15/23 | MSI | PHP | 6,970 | 127,654 | 127,272 | 382 | — | ||||||
Expiring 03/15/23 | MSI | PHP | 1,751 | 31,350 | 31,966 | — | (616) | ||||||
Expiring 03/15/23 | SCB | PHP | 23,348 | 426,000 | 426,332 | — | (332) | ||||||
Expiring 03/15/23 | SCB | PHP | 14,652 | 258,000 | 267,553 | — | (9,553) | ||||||
Polish Zloty, | |||||||||||||
Expiring 04/19/23 | BARC | PLN | 808 | 180,230 | 185,408 | — | (5,178) | ||||||
Expiring 04/19/23 | BARC | PLN | 397 | 88,770 | 91,181 | — | (2,411) | ||||||
Expiring 04/19/23 | BARC | PLN | 172 | 39,245 | 39,478 | — | (233) | ||||||
Expiring 04/19/23 | BNP | PLN | 1,779 | 408,761 | 408,341 | 420 | — | ||||||
Expiring 04/19/23 | BOA | PLN | 562 | 128,873 | 128,945 | — | (72) | ||||||
Expiring 04/19/23 | CITI | PLN | 867 | 197,000 | 198,907 | — | (1,907) | ||||||
Expiring 04/19/23 | JPM | PLN | 327 | 74,328 | 75,109 | — | (781) | ||||||
Expiring 04/19/23 | JPM | PLN | 187 | 42,507 | 42,993 | — | (486) | ||||||
Expiring 04/19/23 | MSI | PLN | 5,000 | 1,136,805 | 1,147,534 | — | (10,729) | ||||||
Expiring 04/19/23 | MSI | PLN | 1,434 | 328,000 | 329,063 | — | (1,063) | ||||||
Serbian Dinar, | |||||||||||||
Expiring 03/15/23 | CITI | RSD | 4,845 | 43,847 | 44,879 | — | (1,032) |
18
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Singapore Dollar, | |||||||||||||
Expiring 03/15/23 | HSBC | SGD | 453 | $337,000 | $345,490 | $— | $(8,490) | ||||||
Expiring 03/15/23 | JPM | SGD | 145 | 110,000 | 110,795 | — | (795) | ||||||
South African Rand, | |||||||||||||
Expiring 03/15/23 | BARC | ZAR | 2,517 | 147,473 | 144,083 | 3,390 | — | ||||||
Expiring 03/15/23 | BARC | ZAR | 1,020 | 58,983 | 58,376 | 607 | — | ||||||
Expiring 03/15/23 | BARC | ZAR | 891 | 50,957 | 51,005 | — | (48) | ||||||
Expiring 03/15/23 | BARC | ZAR | 546 | 30,600 | 31,263 | — | (663) | ||||||
Expiring 03/15/23 | BOA | ZAR | 4,044 | 239,000 | 231,522 | 7,478 | — | ||||||
Expiring 03/15/23 | JPM | ZAR | 4,029 | 239,787 | 230,658 | 9,129 | — | ||||||
Expiring 03/15/23 | JPM | ZAR | 2,890 | 170,000 | 165,481 | 4,519 | — | ||||||
Expiring 03/15/23 | JPM | ZAR | 2,210 | 127,803 | 126,520 | 1,283 | — | ||||||
Expiring 03/15/23 | MSI | ZAR | 1,694 | 95,994 | 96,968 | — | (974) | ||||||
Expiring 03/15/23 | MSI | ZAR | 1,398 | 80,000 | 80,031 | — | (31) | ||||||
South Korean Won, | |||||||||||||
Expiring 03/15/23 | BARC | KRW | 96,053 | 75,000 | 78,002 | — | (3,002) | ||||||
Expiring 03/15/23 | CITI | KRW | 97,838 | 75,000 | 79,451 | — | (4,451) | ||||||
Expiring 03/15/23 | GSI | KRW | 288,345 | 235,000 | 234,157 | 843 | — | ||||||
Expiring 03/15/23 | JPM | KRW | 114,215 | 89,000 | 92,751 | — | (3,751) | ||||||
Expiring 03/15/23 | JPM | KRW | 100,207 | 81,000 | 81,375 | — | (375) | ||||||
Expiring 03/15/23 | MSI | KRW | 102,306 | 83,000 | 83,080 | — | (80) | ||||||
Expiring 03/15/23 | MSI | KRW | 98,434 | 79,000 | 79,936 | — | (936) | ||||||
Expiring 03/15/23 | SCB | KRW | 97,335 | 75,000 | 79,043 | — | (4,043) | ||||||
Thai Baht, | |||||||||||||
Expiring 03/15/23 | BARC | THB | 594 | 17,159 | 18,060 | — | (901) | ||||||
Expiring 03/15/23 | CITI | THB | 5,878 | 170,000 | 178,866 | — | (8,866) | ||||||
Expiring 03/15/23 | GSI | THB | 12,627 | 360,265 | 384,235 | — | (23,970) | ||||||
Expiring 03/15/23 | GSI | THB | 8,898 | 248,000 | 270,772 | — | (22,772) | ||||||
Expiring 03/15/23 | GSI | THB | 3,965 | 113,542 | 120,665 | — | (7,123) | ||||||
Expiring 03/15/23 | HSBC | THB | 2,681 | 82,000 | 81,572 | 428 | — | ||||||
Expiring 03/15/23 | HSBC | THB | 2,653 | 81,000 | 80,735 | 265 | — | ||||||
Expiring 03/15/23 | SCB | THB | 7,662 | 214,000 | 233,142 | — | (19,142) | ||||||
$23,500,684 | $23,889,872 | 37,934 | (427,122) | ||||||||||
$727,266 | $(525,387) |
19
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Cross currency exchange contracts outstanding at January 31, 2023: | ||||||||||||||
Settlement | Type | Notional Amount (000) | In Exchange For (000) | Unrealized Appreciation | Unrealized Depreciation | Counterparty | ||||||||
OTC Cross Currency Exchange Contracts: | ||||||||||||||
03/15/23 | Buy | ZAR | 1,390 | EUR | 74 | $— | $(1,112) | MSI | ||||||
04/19/23 | Buy | EUR | 151 | JPY | 20,870 | 2,868 | — | BARC | ||||||
04/19/23 | Buy | EUR | 256 | PLN | 1,219 | — | (504) | CITI | ||||||
04/19/23 | Buy | HUF | 41,356 | EUR | 102 | 726 | — | JPM | ||||||
04/19/23 | Buy | PLN | 782 | EUR | 164 | — | (16) | MSI | ||||||
04/19/23 | Buy | PLN | 815 | EUR | 171 | — | (209) | BOA | ||||||
$3,594 | $(1,841) |
Credit default swap agreements outstanding at January 31, 2023:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at January 31, 2023(4) | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2): | |||||||||||||||
CDX.EM.38.V1 | 12/20/27 | 1.000%(Q) | 904 | 2.216% | $(53,661) | $(45,084) | $8,577 |
The Fund entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) | If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
20
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
(4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
Interest rate swap agreements outstanding at January 31, 2023:
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements: | ||||||||||||||
BRL | 1,374 | 01/02/24 | 4.590%(T) | 1 Day BROIS(2)(T)/ 0.051% | $— | $(42,891) | $(42,891) | |||||||
BRL | 1,478 | 01/02/25 | 5.840%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (48,524) | (48,524) | |||||||
BRL | 2,354 | 01/02/25 | 7.950%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (60,806) | (60,806) | |||||||
BRL | 2,677 | 01/02/25 | 11.675%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (12,674) | (12,674) | |||||||
BRL | 3,151 | 01/02/25 | 11.840%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (15,147) | (15,147) | |||||||
BRL | 2,674 | 01/02/25 | 11.880%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (12,841) | (12,841) | |||||||
BRL | 3,354 | 01/02/25 | 12.050%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (15,382) | (15,382) | |||||||
BRL | 668 | 01/04/27 | 6.325%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (35,603) | (35,603) | |||||||
BRL | 1,056 | 01/04/27 | 6.529%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (53,657) | (53,657) | |||||||
BRL | 744 | 01/04/27 | 9.300%(T) | 1 Day BROIS(1)(T)/ 0.051% | — | 23,219 | 23,219 | |||||||
BRL | 413 | 01/04/27 | 11.680%(T) | 1 Day BROIS(2)(T)/ 0.051% | 364 | (4,213) | (4,577) | |||||||
BRL | 1,688 | 01/04/27 | 11.755%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (13,030) | (13,030) | |||||||
BRL | 1,574 | 01/04/27 | 12.503%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (1,985) | (1,985) | |||||||
BRL | 518 | 01/04/27 | 13.270%(T) | 1 Day BROIS(1)(T)/ 0.051% | — | (2,146) | (2,146) | |||||||
CLP | 976,025 | 03/15/25 | 6.520%(S) | 1 Day CLOIS(1)(S)/ 11.250% | 3,345 | 9,141 | 5,796 | |||||||
CLP | 182,490 | 03/15/28 | 5.370%(S) | 1 Day CLOIS(1)(S)/ 11.250% | — | 1,047 | 1,047 | |||||||
CLP | 149,656 | 12/21/32 | 6.780%(S) | 1 Day CLOIS(1)(S)/ 11.250% | (2,329) | (21,002) | (18,673) |
21
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2023 (continued):
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
CLP | 162,000 | 01/11/33 | 5.120%(S) | 1 Day CLOIS(1)(S)/ 11.250% | $— | $2,714 | $2,714 | |||||||
CLP | 278,510 | 03/15/33 | 5.100%(S) | 1 Day CLOIS(1)(S)/ 11.250% | 2,000 | 2,724 | 724 | |||||||
CNH | 3,000 | 07/28/27 | 2.438%(Q) | 7 Day China Fixing Repo Rates(2)(Q)/ 2.200% | — | (7,464) | (7,464) | |||||||
CNH | 2,767 | 12/15/27 | 2.680%(Q) | 7 Day China Fixing Repo Rates(2)(Q)/ 2.200% | — | (3,482) | (3,482) | |||||||
COP | 950,000 | 12/12/23 | 5.530%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | — | (12,358) | (12,358) | |||||||
COP | 4,620,270 | 03/15/25 | 10.655%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | — | 1,107 | 1,107 | |||||||
COP | 1,885,950 | 03/15/25 | 10.769%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | — | 1,261 | 1,261 | |||||||
COP | 2,970,730 | 03/15/25 | 11.030%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | — | 4,903 | 4,903 | |||||||
COP | 1,382,980 | 06/15/27 | 8.230%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | (6,003) | (16,613) | (10,610) | |||||||
COP | 2,065,890 | 09/21/27 | 9.200%(Q) | 1 Day COOIS(1)(Q)/ 11.815% | (154) | 8,868 | 9,022 | |||||||
COP | 363,880 | 11/04/27 | 11.300%(Q) | 1 Day COOIS(1)(Q)/ 11.815% | — | (4,779) | (4,779) | |||||||
COP | 236,760 | 12/21/27 | 10.125%(Q) | 1 Day COOIS(1)(Q)/ 11.815% | — | (852) | (852) | |||||||
COP | 1,416,700 | 12/21/27 | 10.187%(Q) | 1 Day COOIS(1)(Q)/ 11.815% | 447 | (5,824) | (6,271) | |||||||
COP | 1,047,000 | 12/21/27 | 10.960%(Q) | 1 Day COOIS(1)(Q)/ 11.815% | — | (11,022) | (11,022) | |||||||
COP | 1,081,990 | 12/21/27 | 11.966%(Q) | 1 Day COOIS(1)(Q)/ 11.815% | — | (20,425) | (20,425) |
22
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2023 (continued):
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
COP | 752,790 | 03/15/28 | 9.660%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | $— | $801 | $801 | |||||||
COP | 211,800 | 11/09/31 | 6.650%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | — | (7,492) | (7,492) | |||||||
COP | 1,356,820 | 03/15/33 | 9.535%(Q) | 1 Day COOIS(1)(Q)/ 11.815% | — | (3,089) | (3,089) | |||||||
CZK | 9,124 | 03/15/28 | 4.630%(A) | 6 Month PRIBOR(1)(S)/ 7.220% | — | 1,371 | 1,371 | |||||||
CZK | 6,507 | 06/15/31 | 1.730%(A) | 6 Month PRIBOR(2)(S)/ 7.220% | — | (57,059) | (57,059) | |||||||
HUF | 157,860 | 09/03/26 | 2.660%(A) | 6 Month BUBOR(1)(S)/ 15.600% | 5,523 | 108,289 | 102,766 | |||||||
HUF | 150,000 | 03/17/27 | 6.250%(A) | 6 Month BUBOR(1)(S)/ 15.600% | — | 39,660 | 39,660 | |||||||
ILS | 2,290 | 01/12/28 | 3.210%(A) | 3 Month TELBOR(2)(Q)/ 3.930% | — | (1,579) | (1,579) | |||||||
KRW | 496,507 | 09/21/27 | 3.087%(Q) | 3 Month KWCDC(2)(Q)/ 3.540% | (828) | (1,669) | (841) | |||||||
KRW | 600,000 | 09/21/27 | 3.639%(Q) | 3 Month KWCDC(1)(Q)/ 3.540% | (5,405) | (9,906) | (4,501) | |||||||
KRW | 2,200,000 | 12/21/27 | 4.197%(Q) | 3 Month KWCDC(2)(Q)/ 3.540% | 92,574 | 85,560 | (7,014) | |||||||
KRW | 600,000 | 03/15/28 | 2.965%(Q) | 3 Month KWCDC(2)(Q)/ 3.540% | — | (3,269) | (3,269) | |||||||
KRW | 300,000 | 03/15/28 | 3.100%(Q) | 3 Month KWCDC(2)(Q)/ 3.540% | — | (116) | (116) | |||||||
MXN | 14,446 | 03/11/26 | 4.845%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | (9,561) | (86,776) | (77,215) |
23
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2023 (continued):
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
MXN | 124 | 06/09/27 | 8.543%(M) | 28 Day Mexican Interbank Rate(1)(M)/ 10.797% | $71 | $13 | $(58) | |||||||
MXN | 4,906 | 12/15/27 | 8.535%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | — | (29) | (29) | |||||||
MXN | 10,145 | 03/08/28 | 8.150%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | (1,007) | (5,851) | (4,844) | |||||||
MXN | 15,540 | 03/08/28 | 8.421%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | — | (33) | (33) | |||||||
MXN | 5,950 | 03/08/28 | 8.475%(M) | 28 Day Mexican Interbank Rate(1)(M)/ 10.797% | (1,342) | (668) | 674 | |||||||
MXN | 5,346 | 01/28/30 | 6.640%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | (29,411) | (27,130) | 2,281 | |||||||
MXN | 4,450 | 07/24/31 | 6.780%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | — | (23,378) | (23,378) | |||||||
MXN | 7,950 | 12/08/32 | 9.320%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | 12,391 | 25,411 | 13,020 | |||||||
PLN | 2,450 | 10/05/23 | 1.350%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | 32,308 | 32,308 | |||||||
PLN | 2,450 | 10/05/23 | 1.375%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | 32,173 | 32,173 | |||||||
PLN | 2,360 | 12/15/23 | 2.400%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | 24,712 | 24,712 |
24
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2023 (continued):
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
PLN | 2,700 | 07/24/24 | 1.798%(A) | 6 Month WIBOR(2)(S)/ 6.990% | $— | $(36,737) | $(36,737) | |||||||
PLN | 930 | 02/01/25 | 4.300%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | 6,731 | 6,731 | |||||||
PLN | 2,730 | 09/08/25 | 0.637%(A) | 6 Month WIBOR(2)(S)/ 6.990% | (1,988) | (94,935) | (92,947) | |||||||
PLN | 3,460 | 04/07/27 | 5.405%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | (12,177) | (12,177) | |||||||
PLN | 1,186 | 06/15/27 | 4.970%(A) | 6 Month WIBOR(2)(S)/ 6.990% | (16,229) | 389 | 16,618 | |||||||
PLN | 1,670 | 08/02/27 | 5.680%(A) | 6 Month WIBOR(2)(S)/ 6.990% | — | (343) | (343) | |||||||
PLN | 4,830 | 09/21/27 | 6.632%(A) | 6 Month WIBOR(1)(S)/ 6.990% | (15,532) | (47,196) | (31,664) | |||||||
PLN | 1,434 | 10/06/27 | 6.826%(A) | 6 Month WIBOR(2)(S)/ 6.990% | — | 16,720 | 16,720 | |||||||
PLN | 1,970 | 10/25/27 | 7.900%(A) | 6 Month WIBOR(2)(S)/ 6.990% | — | 43,679 | 43,679 | |||||||
PLN | 1,185 | 12/21/27 | 6.845%(A) | 6 Month WIBOR(2)(S)/ 6.990% | 11,331 | 15,382 | 4,051 | |||||||
PLN | 1,610 | 03/15/28 | 5.258%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | 1,658 | 1,658 | |||||||
PLN | 700 | 06/17/31 | 1.745%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | 36,649 | 36,649 | |||||||
PLN | 271 | 05/10/32 | 6.410%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | (6,275) | (6,275) | |||||||
ZAR | 5,789 | 08/21/25 | 4.978%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | (8,190) | (18,739) | (10,549) |
25
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2023 (continued):
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
ZAR | 2,808 | 03/16/27 | 6.960%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | $5,758 | $3,140 | $(2,618) | |||||||
ZAR | 1,744 | 09/21/27 | 7.490%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | (3,843) | (421) | 3,422 | |||||||
ZAR | 19,350 | 09/21/27 | 8.280%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | 1,025 | (30,515) | (31,540) | |||||||
ZAR | 6,460 | 12/21/27 | 8.615%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | — | 15,013 | 15,013 | |||||||
ZAR | 3,900 | 12/21/27 | 8.860%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | (1,108) | (11,357) | (10,249) | |||||||
ZAR | 6,854 | 03/15/28 | 7.646%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | — | (1,248) | (1,248) | |||||||
ZAR | 8,868 | 03/15/28 | 7.766%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | — | (895) | (895) | |||||||
ZAR | 3,244 | 04/13/31 | 7.530%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | (41) | (10,032) | (9,991) | |||||||
ZAR | 6,680 | 07/13/31 | 7.415%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | 93 | 24,935 | 24,842 | |||||||
ZAR | 6,610 | 09/27/31 | 7.493%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | 1,662 | 24,098 | 22,436 | |||||||
ZAR | 4,635 | 01/04/32 | 7.595%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | 5,064 | 16,278 | 11,214 | |||||||
ZAR | 2,682 | 11/10/32 | 9.160%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | (11) | 5,826 | 5,837 | |||||||
$38,666 | $(305,854) | $(344,520) |
26
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2023 (continued):
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Fair Value | Upfront Premiums Paid(Received) | Unrealized Appreciation (Depreciation) | Counterparty | ||||||||
OTC Interest Rate Swap Agreements: | |||||||||||||||
MYR | 2,300 | 07/21/27 | 3.640%(Q) | 3 Month KLIBOR(2)(Q)/ 3.680% | $3,014 | $(12) | $3,026 | GSI | |||||||
MYR | 3,000 | 07/29/27 | 3.500%(Q) | 3 Month KLIBOR(2)(Q)/ 3.680% | 45 | (13) | 58 | JPM | |||||||
MYR | 770 | 03/15/28 | 3.710%(Q) | 3 Month KLIBOR(1)(Q)/ 3.680% | (1,382) | — | (1,382) | MSI | |||||||
MYR | 1,900 | 03/15/28 | 3.713%(Q) | 3 Month KLIBOR(1)(Q)/ 3.680% | (3,468) | — | (3,468) | BOA | |||||||
$(1,791) | $(25) | $(1,766) |
(1) | The Fund pays the fixed rate and receives the floating rate. |
(2) | The Fund pays the floating rate and receives the fixed rate. |
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
27