PGIM Global Total Return Fund Class Z (PZTRX) N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number:	811-04661
Exact name of registrant as specified in charter:	Prudential Global Total Return Fund, Inc.
Address of principal executive offices:	655 Broad Street, 17th Floor
	Newark, New Jersey 07102
Name and address of agent for service:	Deborah A. Docs
	655 Broad Street, 17th Floor
	Newark, New Jersey 07102
Registrant’s telephone number, including area code:	800-225-1852
Date of fiscal year end:	10/31/2018
Date of reporting period:	4/30/2018

Item 1 – Reports to Stockholders

PGIM GLOBAL TOTAL RETURN FUND

(Formerly known as Prudential Global Total Return Fund, Inc.)

SEMIANNUAL REPORT

APRIL 30, 2018

To enroll in e-delivery, go to pgiminvestments.com/edelivery

Objective: Total return, made up of current income and capital appreciation

This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current prospectus.

The information about the Fund’s portfolio holdings is for the period covered by this report and is subject to change thereafter.

The accompanying financial statements as of April 30, 2018 were not audited and, accordingly, no auditor’s opinion is expressed on them.

Mutual funds are distributed by Prudential Investment Management Services LLC (PIMS), member SIPC. PGIM Fixed Income is a unit of PGIM, Inc. (PGIM), a registered investment adviser. PIMS and PGIM are Prudential Financial companies. ^© 2018 Prudential Financial, Inc. and its related entities. PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

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Table of Contents

Letter from the President	5
Your Fund’s Performance	6
Fees and Expenses	10
Holdings and Financial Statements	13

PGIM Global Total Return Fund 3

This Page Intentionally Left Blank

Letter from the President

Dear Shareholder:

We hope you find the semiannual report for PGIM Global Total Return Fund informative and useful. The report covers performance for the six-month period ended April 30, 2018.

We have important information to share with you. Effective June 11, 2018,

Prudential Mutual Funds were renamed PGIM Funds. This renaming is part of our ongoing effort to further build our reputation and establish our global brand, which began when our firm adopted PGIM Investments as its name in April 2017. Please note that only the Fund’s name has changed. Your Fund’s management and operation, along with its symbols, remained the same.*

Regarding your investments with PGIM, we believe it is important to maintain a diversified portfolio of funds consistent with your tolerance for risk, time horizon, and financial goals.

Your financial advisor can help you create a diversified investment plan that may include funds covering all the basic asset classes and that reflects your personal investor profile and risk tolerance. However, diversification and asset allocation strategies do not assure a profit or protect against loss in declining markets.

At PGIM Investments, we consider it a great privilege and responsibility to help investors participate in opportunities across global markets while meeting their toughest investment challenges. PGIM is a top-10 global investment manager with more than $1 trillion in assets under management. This investment expertise allows us to deliver actively managed funds and strategies to meet the needs of investors around the globe.

Thank you for choosing our family of funds.

Sincerely,

Stuart S. Parker, President

PGIM Global Total Return Fund

June 15, 2018

*The Prudential Day One Funds did not change their names.

PGIM Global Total Return Fund 5

Your Fund’s Performance (unaudited)

Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.pgiminvestments.com or by calling (800) 225-1852.

	Total Returns as of 4/30/18 (without sales charges)	Average Annual Total Returns as of 4/30/18 (with sales charges)
	Six Months* (%)	One Year (%)	Five Years (%)	Ten Years (%)	Since Inception (%)
Class A	1.97	2.37	1.41	4.54	—
Class B	1.75	1.57	1.39	4.25	—
Class C	1.75	5.58	1.59	4.36	—
Class Z	2.24	7.58	2.62	5.30	—
Class R2	0.36**	N/A	N/A	N/A	N/A (12/27/17)
Class R4	0.44**	N/A	N/A	N/A	N/A (12/27/17)
Class R6***	2.25	7.59	2.81	N/A	3.79 (2/3/12)
Bloomberg Barclays Global Aggregate Bond Index
	1.20	4.09	0.89	2.60	—
Lipper Global Income Funds Average****
	0.61	3.18	0.99	3.17	—
Lipper Custom Global Income Funds Average****
	1.01	3.90	0.63	2.84	—

Source: PGIM Investments LLC and Lipper Inc.

*Not annualized

** Since inception.

***Formerly known as Class Q shares.

****The Lipper Custom Global Income Funds Average consists only of unhedged funds within Lipper’s Global Income Funds Universe and not the entire Global Income Funds Universe, although Lipper classifies the Fund in the Global Income Funds Performance Universe. The Lipper Custom Global Income Funds Average is utilized because the Fund’s manager believes that the funds included in this universe provide a more appropriate basis for Fund performance comparisons.

Since Inception returns are provided for any share class with less than 10 fiscal years of returns. Since Inception returns for the Index and the Lipper Average are measured from the class’ inception date.

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The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. The average annual total returns take into account applicable sales charges, which are described for each share class in the table below.

	Class A	Class B*	Class C	Class Z	Class R2	Class R4	Class R6**
Maximum initial sales charge	4.50% of the public offering price	None	None	None	None	None	None
Contingent deferred sales charge (CDSC) (as a percentage of the lower of original purchase price or net asset value at redemption)	1.00% on sales of $1 million or more made within 12 months of purchase	5.00% (Yr. 1) 4.00% (Yr. 2) 3.00% (Yr. 3) 2.00% (Yr. 4) 1.00% (Yr. 5/6) 0.00% (Yr. 7)	1.00% on sales made within 12 months of purchase	None	None	None	None
Annual distribution and service (12b-1) fees (shown as a percentage of average daily net assets)	0.25%	1.00%	1.00%	None	0.25%	None	None
Shareholder services fees	None	None	None	None	0.10%	0.10%	None

*Class B shares are closed to all purchase activity and no additional Class B shares may be purchased or acquired except by exchange from Class B shares of another Fund or through dividend or capital gains reinvestment.

**Formerly known as Class Q shares.

PGIM Global Total Return Fund 7

Your Fund’s Performance (continued)

Benchmark Definitions

Bloomberg Barclays Global Aggregate Bond Index—The Bloomberg Barclays Global Aggregate Bond Index is an unmanaged index of global investment-grade fixed income markets. The three major components of this index are the US Aggregate, the Pan-European Aggregate, and the Asian-Pacific Aggregate Indices. The index also includes euro dollar and euro-yen corporate bonds, and Canadian government, agency and corporate securities. The average annual total return for the Index measured from the month-end closest to the inception date of the Fund’s Class R6 shares is 1.00%.

Lipper Global Income Funds Average—The Lipper Global Income Funds Average (Lipper Average) is based on the average return of all funds in the Lipper Global Income Funds universe for the periods noted. Funds in the Lipper Average invest primarily in US dollar and non-US dollar debt securities of issuers located in at least three countries, one of which may be the United States. The average annual total return for the Lipper Average measured from the month-end closest to the inception date of the Fund’s Class R6 shares is 1.78%.

Lipper Custom Global Income Funds Average—The Lipper Custom Global Income Funds Average (Lipper Custom Average) consists only of unhedged funds within Lipper’s Global Income Funds universe and not the entire Global Income Funds universe, although Lipper classifies the Fund in the Global Income Funds Performance universe. The average annual total return for the Lipper Custom Average measured from the month-end closest to the inception date of the Fund’s Class R6 shares is 1.36%.

Investors cannot invest directly in an index or average. The returns for the Index would be lower if they included the effects of sales charges, operating expenses of a mutual fund, or taxes. Returns for the Lipper Averages reflect the deduction of operating expenses of a mutual fund, but not sales charges or taxes.

Distributions and Yields as of 4/30/18
	Total Distributions Paid for Six Months ($)	SEC 30-Day Subsidized Yield* (%)	SEC 30-Day Unsubsidized Yield** (%)
Class A	0.10	1.92	1.82
Class B	0.08	1.26	0.49
Class C	0.08	1.26	1.19
Class Z	0.11	2.25	2.24
Class R2	0.07	1.78	–127.09
Class R4	0.07	2.03	–126.93
Class R6	0.11	2.31	2.31

*SEC 30-Day Subsidized Yield (%)—A standardized yield calculation created by the Securities and Exchange Commission, it reflects the income earned during a 30-day period, after the deduction of the Fund’s net expenses (net of any expense waivers or reimbursements).

**SEC 30-Day Unsubsidized Yield (%)—A standardized yield calculation created by the Securities and Exchange Commission, it reflects the income earned during a 30-day period, after the deduction of the Fund’s gross expenses.

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Credit Quality expressed as a percentage of total investments as of 4/30/18 (%)
AAA	27.9
AA	8.4
A	19.6
BBB	23.5
BB	8.6
B	6.7
CCC	0.2
Not Rated	5.0
Total	100.0

Source: PGIM Fixed Income

Credit ratings reflect the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody’s Investor Service, Inc. (Moody’s), S&P Global Ratings (S&P), or Fitch, Inc. (Fitch). Credit ratings reflect the common nomenclature used by both S&P and Fitch. Where applicable, ratings are converted to the comparable S&P/Fitch rating tier nomenclature. These rating agencies are independent and are widely used. The Not Rated category consists of securities that have not been rated by a NRSRO. Credit ratings are subject to change. Values may not sum to 100.0% due to rounding.

PGIM Global Total Return Fund 9

Fees and Expenses (unaudited)

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemptions, as applicable, and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Fund expenses, as applicable. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 held through the six-month period ended April 30, 2018. The example is for illustrative purposes only; you should consult the Prospectus for information on initial and subsequent minimum investment requirements.

Actual Expenses

The first line for each share class in the table on the following page provides information about actual account values and actual expenses. You may use the information on this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value ÷ $1,000 = 8.6), then multiply the result by the number on the first line under the heading “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line for each share class in the table on the following page provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

The Fund’s transfer agent may charge additional fees to holders of certain accounts that are not included in the expenses shown in the table on the following page. These fees apply to individual retirement accounts (IRAs) and Section 403(b) accounts. As of the close of the six-month period covered by the table, IRA fees included an annual maintenance fee of $15 per account (subject to a maximum annual maintenance fee of $25 for all accounts held by the same shareholder). Section 403(b) accounts are charged an annual $25 fiduciary maintenance fee. Some of the fees may vary in amount, or may be waived, based on your total account balance or the number of PGIM funds, including the Fund, that you own. You should consider the additional fees that were charged to your Fund account over the six-month period when you estimate the total ongoing expenses paid over the period

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and the impact of these fees on your ending account value, as these additional expenses are not reflected in the information provided in the expense table. Additional fees have the effect of reducing investment returns.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs such as sales charges (loads). Therefore, the second line for each share class in the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

PGIM Global Total Return Fund		Beginning Account Value November 1, 2017		Ending  Account Value April 30, 2018		Annualized Expense Ratio Based on the Six-Month Period			Expenses  Paid During the Six-Month Period*
Class A	Actual	$	1,000.00	$	1,019.70		0.88	%	$	4.41
	Hypothetical	$	1,000.00	$	1,020.43		0.88	%	$	4.41
Class B	Actual	$	1,000.00	$	1,017.50		1.63	%	$	8.15
	Hypothetical	$	1,000.00	$	1,016.71		1.63	%	$	8.15
Class C	Actual	$	1,000.00	$	1,017.50		1.63	%	$	8.15
	Hypothetical	$	1,000.00	$	1,016.71		1.63	%	$	8.15
Class Z	Actual	$	1,000.00	$	1,022.40		0.63	%	$	3.16
	Hypothetical	$	1,000.00	$	1,021.67		0.63	%	$	3.16
Class R2	Actual**	$	1,000.00	$	1,003.60		1.08	%	$	3.68
	Hypothetical	$	1,000.00	$	1,019.44		1.08	%	$	5.41
Class R4	Actual**	$	1,000.00	$	1,004.40		0.83	%	$	2.83
	Hypothetical	$	1,000.00	$	1,020.68		0.83	%	$	4.16
Class R6***	Actual	$	1,000.00	$	1,022.50		0.56	%	$	2.81
	Hypothetical	$	1,000.00	$	1,022.02		0.56	%	$	2.81

*Fund expenses (net of fee waivers or subsidies, if any) for each share class are equal to the annualized expense ratio for each share class (provided in the table), multiplied by the average account value over the period, multiplied by the 181 days in the six-month period ended April 30, 2018, and divided by the 365 days in the Fund’s fiscal year ending October 31, 2018 (to reflect the six-month period). Expenses presented in the table include the expenses of any underlying funds in which the Fund may invest.

**“Actual” expenses are calculated using the 124 days in the period ended April 30, 2018 due to the class’ inception date of December 27, 2017.

***Formerly known as Class Q shares.

PGIM Global Total Return Fund 11

Schedule of Investments (unaudited)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
LONG-TERM INVESTMENTS    96.7%
ASSET-BACKED SECURITIES    16.9%
Automobiles    0.4%
OneMain Direct Auto Receivables Trust,
Series 2016-1A, Class C, 144A		4.580	%		09/15/21		800	$	801,053
Series 2017-1A, Class C, 144A		3.910			08/16/21		1,900		1,871,080
Series 2017-2A, Class D, 144A		3.420			10/15/24		700		689,303
Series 2017-2A, Class E, 144A		4.740			11/14/25		1,000		991,507
Santander Drive Auto Receivables Trust,
Series 2017-3, Class C		2.760			12/15/22		400		395,316
Series 2018-2, Class C		3.350			07/17/23		1,610		1,603,937
									6,352,196
Collateralized Loan Obligations    12.7%
Arbour CLO Ltd. (Ireland), Series 2018-3A, Class B1R, 144A		1.920	(cc)		03/15/29	EUR	4,000		4,822,306
Armada Euro CLO (Ireland),
Series 2018-2A, Class A1, 144A, 3 Month EURIBOR + 0.760%		0.760	(c)		11/15/31	EUR	5,500		6,623,525
Series 2018-2A, Class A3, 144A		1.500	(cc)		11/15/31	EUR	1,500		1,801,435
ArrowMark Colorado Holdings (Cayman Islands), Series 2017-6A, Class A1, 144A, 3 Month LIBOR + 1.280%		3.628	(c)		07/15/29		500		503,066
Atlas Sr. Loan Fund Ltd. (Cayman Islands), Series 2017-8A, Class A, 144A, 3 Month LIBOR + 1.300%		3.648	(c)		01/16/30		500		502,567
Bain Capital Credit CLO (Cayman Islands), Series 2018-1A, Class A1, 144A, 3 Month LIBOR + 0.960%		3.322	(c)		04/23/31		3,500		3,492,249
Ballyrock CLO Ltd. (Cayman Islands), Series 2016-1A, Class A, 144A, 3 Month LIBOR + 1.590%		3.938	(c)		10/15/28		3,000		3,037,013
Battalion CLO Ltd. (Cayman Islands),
Series 2014-6A, Class A1R, 144A, 3 Month LIBOR + 1.180%		3.533	(c)		10/17/26		1,350		1,351,221
Series 2015-8A, Class A1R, 144A, 3 Month LIBOR + 1.340%		3.695	(c)		07/18/30		2,000		2,014,121
Battalion CLO Ltd., Series 2018-12A, Class A, 144A^		—	(p)		05/17/31		15,000		15,000,000
Benefit Street Partners CLO Ltd. (Cayman Islands),
Series 2013-IIA, Class A1R, 144A, 3 Month LIBOR + 1.250%		3.598	(c)		07/15/29		1,250		1,257,516
Series 2017-12A, Class A1, 144A, 3 Month LIBOR + 1.250%		3.598	(c)		10/15/30		750		752,588

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 13

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
ASSET-BACKED SECURITIES (Continued)
Collateralized Loan Obligations (cont’d.)
Brookside Mill CLO Ltd. (Cayman Islands), Series 2013-1A, Class BR, 144A, 3 Month LIBOR + 1.350%		3.054	%(c)		01/17/28		4,000	$	3,960,181
Canyon Capital CLO Ltd. (Cayman Islands), Series 2015-1A, Class AS, 144A, 3 Month LIBOR + 1.250%		3.598	(c)		04/15/29		3,750		3,769,023
Carlyle CLO Ltd. (Cayman Islands), Series 2017-C17A, Class A1AR, 144A, 3 Month LIBOR + 1.030%		3.383	(c)		04/30/31		15,000		15,000,000
Carlyle Global Market Strategies CLO Ltd. (Cayman Islands),
Series 2014-1A, Class A1R2, 144A, 3 Month LIBOR + 0.970%		3.310	(c)		04/17/31		9,000		8,995,190
Series 2018-1A, Class A1, 144A		—	(p)		04/20/31		12,500		12,500,000
Catamaran CLO (Cayman Islands), Series 2014-1A, Class A1AR, 144A, 3 Month LIBOR + 1.260%		3.619	(c)		04/22/30		2,500		2,523,227
Flagship CLO Ltd. (Cayman Islands), Series 2014-8A, Class AR, 144A, 3 Month LIBOR + 1.250%		3.598	(c)		01/16/26		3,000		3,005,357
Greywolf CLO Ltd. (Cayman Islands), Series 2018-1A, Class A1, 144A, 3 Month LIBOR + 1.030%		3.539	(c)		04/26/31		7,000		7,000,000
ICG US CLO Ltd. (Cayman Islands), Series 2017-2A, Class A1, 144A, 3 Month LIBOR + 1.280%		3.642	(c)		10/23/29		3,500		3,523,954
KVK CLO Ltd. (Cayman Islands), Series 2014-1A, Class A1R, 144A, 3 Month LIBOR + 1.300%		3.139	(c)		05/15/26		3,500		3,503,214
Mariner CLO Ltd. (Cayman Islands), Series 2018-5A, Class A, 144A, 3 Month LIBOR + 1.110%		3.324	(c)		04/25/31		6,250		6,247,300
Midocean Credit CLO (Cayman Islands), Series 2018-8A, Class B, 144A, 3 Month LIBOR + 1.650%		3.536	(c)		02/20/31		2,000		2,002,469
Oakhill European Credit Partners (Ireland), Series 2017-6A, Class A2, 144A		1.150			01/20/32	EUR	3,000		3,618,521
OCP CLO Ltd. (Cayman Islands), Series 2017-13A, Class A1A, 144A, 3 Month LIBOR + 1.260%		3.608	(c)		07/15/30		750		758,744
OZLM Ltd. (Cayman Islands),
Series 2014-6A, Class A1S, 144A, 3 Month LIBOR + 1.080%		3.433	(c)		04/17/31		5,500		5,499,945
Series 2014-6A, Class A2AS, 144A, 3 Month LIBOR + 1.750%		4.103	(c)		04/17/31		2,000		1,999,972
Series 2015-11A, Class A1R, 144A, 3 Month LIBOR + 1.250%		3.609	(c)		10/30/30		1,000		1,007,287
Series 2018-20A, Class A1, 144A		—	(p)		04/20/31		5,000		5,000,000
Series 2018-20A, Class A2, 144A^		—	(p)		04/20/31		3,000		3,000,000

See Notes to Financial Statements.

14

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
ASSET-BACKED SECURITIES (Continued)
Collateralized Loan Obligations (cont’d.)
Palmer Square CLO Ltd. (Cayman Islands),
Series 2015-1A, Class A1R, 144A, 3 Month LIBOR + 1.300%		3.192	%(c)		05/21/29		3,750	$	3,768,287
Series 2015-2A, Class A1AR, 144A, 3 Month LIBOR + 1.270%		3.629	(c)		07/20/30		1,750		1,761,068
Regatta Funding Ltd. (Cayman Islands),
Series 2016-1A, Class A1, 144A, 3 Month LIBOR + 1.520%		3.722	(c)		12/20/28		2,000		2,010,000
Series 2017-1A, Class A, 144A, 3 Month LIBOR + 1.250%		3.603	(c)		10/17/30		2,000		2,012,307
Silver Creek CLO Ltd. (Cayman Islands), Series 2014-1A, Class AR, 144A, 3 Month LIBOR + 1.240%		3.599	(c)		07/20/30		500		502,844
Sound Point CLO Ltd. (Cayman Islands),
Series 2016-2A, Class A, 144A, 3 Month LIBOR + 1.660%		4.019	(c)		10/20/28		1,000		1,005,972
Series 2017-3A, Class A1B, 144A, 3 Month LIBOR + 1.220%		3.579	(c)		10/20/30		500		503,612
St. Paul’s CLO DAC (Netherlands), Series 2017-7A, Class B2, 144A		2.400			04/30/30	EUR	1,000		1,208,733
TCW CLO Ltd. (Cayman Islands), Series 2018-1A, Class A1A, 144A^		—	(p)		04/25/31		15,000		15,000,000
Telos CLO (Cayman Islands), Series 2013-3A, Class AR, 144A, 3 Month LIBOR + 1.300%		3.653	(c)		07/17/26		1,000		1,001,375
TIAA CLO Ltd. (Cayman Islands), Series 2016-1A, Class A, 144A, 3 Month LIBOR + 1.700%		4.059	(c)		07/20/28		2,000		2,006,779
TICP CLO Ltd. (Cayman Islands), Series 2015-1A, Class BR, 144A, 3 Month LIBOR + 1.300%		3.659	(c)		07/20/27		5,188		5,184,069
Trinitas CLO Ltd. (Cayman Islands),
Series 2015-3A, Class BR, 144A, 3 Month LIBOR + 1.400%		3.748	(c)		07/15/27		5,000		5,004,210
Series 2016-5A, Class A, 144A, 3 Month LIBOR + 1.700%		4.060	(c)		10/25/28		3,000		3,007,518
Series 2017-6A, Class A, 144A, 3 Month LIBOR + 1.320%		3.680	(c)		07/25/29		2,500		2,516,983
Tryon Park CLO Ltd. (Cayman Islands), Series 2013-1A, Class A2R, 144A, 3 Month LIBOR + 1.500%		3.848	(c)		04/15/29		3,700		3,699,900
Voya CLO Ltd. (Cayman Islands), Series 2013-2A, Class A1R, 144A, 3 Month LIBOR + 0.970%		3.314	(c)		04/25/31		4,500		4,489,733
Wellfleet CLO Ltd. (Cayman Islands),
Series 2017-2A, Class A1, 144A, 3 Month LIBOR + 1.250%		3.609	(c)		10/20/29		1,500		1,504,766

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 15

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
ASSET-BACKED SECURITIES (Continued)
Collateralized Loan Obligations (cont’d.)
Wellfleet CLO Ltd. (Cayman Islands), (cont’d)
Series 2017-3A, Class A1, 144A, 3 Month LIBOR + 1.150%		2.881	%(c)		01/17/31		2,500	$	2,510,434
York CLO Ltd. (Cayman Islands), Series 2015-1A, Class AR, 144A, 3 Month LIBOR + 1.150%		3.512	(c)		01/22/31		5,000		5,029,476
Zais CLO Ltd. (Cayman Islands),
Series 2017-1A, Class A1, 144A, 3 Month LIBOR + 1.370%		3.718	(c)		07/15/29		4,250		4,281,142
Series 2017-2A, Class A, 144A, 3 Month LIBOR + 1.290%		3.638	(c)		04/15/30		750		760,521
Series 2018-1A, Class A, 144A, 3 Month LIBOR + 0.950%		3.075	(c)		04/15/29		7,250		7,251,005
									210,092,725
Consumer Loans    1.4%
Lendmark Funding Trust,
Series 2016-2A, Class A, 144A		3.260			04/21/25		400		400,668
Series 2017-1A, Class B, 144A		3.770			12/22/25		700		693,875
Series 2017-2A, Class B, 144A		3.380			05/20/26		2,000		1,972,465
Series 2017-2A, Class C, 144A		4.330			05/20/26		700		691,635
OneMain Financial Issuance Trust,
Series 2015-2A, Class A, 144A		2.570			07/18/25		373		372,583
Series 2015-2A, Class C, 144A		4.320			07/18/25		2,100		2,094,374
Series 2016-1A, Class A, 144A		3.660			02/20/29		1,000		1,008,984
Series 2016-2A, Class A, 144A		4.100			03/20/28		857		862,428
Series 2017-1A, Class C, 144A		3.350			09/14/32		400		390,220
Oportun Funding IV LLC, Series 2016-C, Class A, 144A		3.280			11/08/21		1,350		1,349,581
Oportun Funding VI LLC, Series 2017-A, Class A, 144A		3.230			06/08/23		750		743,552
Oportun Funding VII LLC, Series 2017-B, Class A, 144A		3.220			10/10/23		2,600		2,561,982
Oportun Funding VIII LLC, Series 2018-A, Class A, 144A		3.610			03/08/24		1,330		1,324,794
PNMAC GMSR Issuer Trust,
Series 2017-GT2, Class A, 144A, 1 Month LIBOR + 4.000%		5.897	(c)		08/25/23		1,110		1,110,000
Series 2018-FT1, Class A, 144A, 1 Month LIBOR + 2.350%^		4.248	(c)		04/25/23		4,290		4,306,088
SpringCastle America Funding LLC, Series 2016-AA, Class A, 144A		3.050			04/25/29		1,258		1,254,267

See Notes to Financial Statements.

16

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
ASSET-BACKED SECURITIES (Continued)
Consumer Loans (cont’d.)
Springleaf Funding Trust,
Series 2015-AA, Class A, 144A		3.160	%		11/15/24		796	$	795,718
Series 2017-AA, Class C, 144A		3.860			07/15/30		800		795,298
									22,728,512
Home Equity Loans    0.8%
ACE Securities Corp. Home Equity Loan Trust, Series 2005-HE2, Class M4, 1 Month LIBOR + 0.960%		2.857	(c)		04/25/35		681		683,742
Ameriquest Mortgage Securities, Inc., Asset-Backed Pass-Through Certificates,
Series 2002-2, Class M3, 1 Month LIBOR + 2.655%		4.552	(c)		08/25/32		637		632,176
Series 2002-3, Class M3, 1 Month LIBOR + 2.850%		4.747	(c)		08/25/32		339		337,692
Argent Securities, Inc., Asset-Backed Pass-Through Certificates,
Series 2004-W6, Class M1, 1 Month LIBOR + 0.825%		2.722	(c)		05/25/34		69		69,277
Series 2005-W2, Class A2C, 1 Month LIBOR + 0.360%		2.257	(c)		10/25/35		627		628,134
Asset-Backed Funding Certificates, Series 2004-OPT5, Class A1, 1 Month LIBOR + 0.700%		2.597	(c)		06/25/34		883		861,143
Bear Stearns Asset-Backed Securities Trust, Series 2004-HE2, Class M1, 1 Month LIBOR + 0.900%		2.797	(c)		03/25/34		186		186,160
Chase Funding Loan Acquisition Trust, Series 2004-AQ1, Class A2, 1 Month LIBOR + 0.800%		2.697	(c)		05/25/34		262		264,210
CHEC Loan Trust, Series 2004-1, Class A3, 1 Month LIBOR + 1.000%		2.897	(c)		07/25/34		892		872,994
EquiFirst Mortgage Loan Trust, Series 2004-1, Class 1A1, 1 Month LIBOR + 0.480%		2.377	(c)		01/25/34		880		852,811
Home Equity Asset Trust, Series 2005-9, Class 2A4, 1 Month LIBOR + 0.340%		2.237	(c)		04/25/36		253		253,426
MASTR Asset-Backed Securities Trust, Series 2004-OPT2, Class A1, 1 Month LIBOR + 0.700%		2.597	(c)		09/25/34		2,362		2,349,043
Series 2004-WMC2, Class M1, 1 Month LIBOR + 0.900%		2.797	(c)		04/25/34		2,146		2,118,777
Merrill Lynch Mortgage Investors Trust, Series 2004-HE2, Class M1, 1 Month LIBOR + 1.200%		3.097	(c)		08/25/35		90		90,699
Morgan Stanley ABS Capital I, Inc. Trust,
Series 2003-NC8, Class M1, 1 Month LIBOR + 1.050%		2.947	(c)		09/25/33		173		171,366

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 17

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
ASSET-BACKED SECURITIES (Continued)
Home Equity Loans (cont’d.)
Morgan Stanley ABS Capital I, Inc. Trust, (cont’d)
Series 2004-OP1, Class M1, 1 Month LIBOR + 0.870%		2.767	%(c)		11/25/34		2,378	$	2,370,122
Morgan Stanley Dean Witter Capital I, Inc. Trust, Series 2002-AM3, Class A3, 1 Month LIBOR + 0.980%		2.877	(c)		02/25/33		245		239,905
New Century Home Equity Loan Trust, Series 2003-4, Class M1, 1 Month LIBOR + 1.125%		3.022	(c)		10/25/33		216		211,439
Option One Mortgage Acceptance Corp., Asset-Backed Certificates, Series 2003-6, Class A2, 1 Month LIBOR + 0.660%		2.557	(c)		11/25/33		850		828,298
Structured Asset Securities Corp. Mortgage Loan Trust, Series 2005-NC2, Class M3, 1 Month LIBOR + 0.430%		2.327	(c)		05/25/35		202		201,813
									14,223,227
Residential Mortgage-Backed Securities    0.9%
Ameriquest Mortgage Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M1, 1 Month LIBOR + 0.960%		2.857	(c)		09/25/34		138		138,776
Chase Funding Trust, Series 2003-4, Class 2A2, 1 Month LIBOR + 0.600%		2.497	(c)		05/25/33		1,027		1,000,961
CIT Mortgage Loan Trust, Series 2007-1, Class 1A, 144A, 1 Month LIBOR + 1.350%		3.247	(c)		10/25/37		1,527		1,540,106
Countrywide Asset-Backed Certificates, Series 2002-5, Class MV1, 1 Month LIBOR + 1.500%		3.397	(c)		03/25/33		128		128,035
Credit Suisse Mortgage Trust,
Series 2016-RPL1, Class A1, 144A, 1 Month LIBOR + 3.150%		5.037	(c)		12/26/46		1,711		1,765,137
Series 2018-3R, Class 1A1, 144A, 1 Month LIBOR + 1.200%^		3.071	(c)		12/25/46		4,130		4,132,581
Finance America Mortgage Loan Trust, Series 2004-2, Class M1, 1 Month LIBOR + 0.825%		2.722	(c)		08/25/34		642		634,054
Fremont Home Loan Trust,
Series 2004-1, Class M1, 1 Month LIBOR + 0.675%		2.572	(c)		02/25/34		371		371,803
Series 2004-B, Class M1, 1 Month LIBOR + 0.870%		2.767	(c)		05/25/34		726		726,786
Long Beach Mortgage Loan Trust,
Series 2003-4, Class AV1, 1 Month LIBOR + 0.620%		2.517	(c)		08/25/33		853		848,533
Series 2004-3, Class M1, 1 Month LIBOR + 0.855%		2.752	(c)		07/25/34		168		167,901

See Notes to Financial Statements.

18

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
ASSET-BACKED SECURITIES (Continued)
Residential Mortgage-Backed Securities (cont’d.)
New Century Home Equity Loan Trust, Series 2005-C, Class A2C, 1 Month LIBOR + 0.250%		2.147	%(c)		12/25/35		141	$	141,151
Popular ABS Mortgage Pass-Through Trust, Series 2004-4, Class M1		4.422	(cc)		09/25/34		110		110,461
Structured Asset Investment Loan Trust, Series 2003-BC3, Class M1, 1 Month LIBOR + 1.425%		3.322	(c)		04/25/33		434		432,973
Structured Asset Investment Loan Trust (Cayman Islands), Series 2003-BC9, Class 2A, 1 Month LIBOR + 0.950%		2.847	(c)		08/25/33		1,935		1,887,409
Structured Asset Investment Loan Trust, Series 2004-8, Class A8, 1 Month LIBOR + 1.000%		2.897	(c)		09/25/34		376		368,756
VOLT LX LLC, Series 2017-NPL7, Class A1, 144A		3.250			06/25/47		286		284,022
VOLT LXIII LLC, Series 2017-NP10, Class A1, 144A		3.000			10/25/47		1,305		1,293,488
									15,972,933
Student Loans    0.7%
Laurel Road Prime Student Loan Trust, Series 2018-A, Class A, 144A		3.651	(cc)		02/25/43		3,430		5,119,618
SLM Student Loan Trust, Series 2007-2, Class B, 3 Month LIBOR + 0.170%		2.530	(c)		07/25/25		6,600		6,065,512
									11,185,130
TOTAL ASSET-BACKED SECURITIES (cost $278,846,695)									280,554,723
BANK LOANS    0.1%
Consumer Cyclical - Services    0.0%
OBOL France 3 SAS (France), Facility B, 3 Month EURIBOR + 3.250%		3.500	(c)		04/11/23	EUR	232		281,365
Hotels, Resorts & Cruise Lines    0.1%
Richmond Bidco Ltd. (United Kingdom), Facility B, 1 Month GBP LIBOR + 4.250%		4.760	(c)		03/03/24	GBP	389		527,505
TOTAL BANK LOANS (cost $787,983)									808,870
COMMERCIAL MORTGAGE-BACKED SECURITIES    8.1%
BANK,
Series 2017-BNK5, Class A3		3.020			06/15/60		3,600		3,460,251
Series 2017-BNK6, Class A3		3.125			07/15/60		4,400		4,277,966
Series 2017-BNK7, Class A4		3.175			09/15/60		5,000		4,814,271
Series 2017-BNK9, Class A3		3.279			11/15/54		3,000		2,895,582

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 19

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)
Benchmark Mortgage Trust,
Series 2018-B2, Class A3		3.544	%		02/15/51		5,000	$	4,977,184
Series 2018-B3, Class A3		3.746			04/10/51		7,200		7,222,509
Citigroup Commercial Mortgage Trust,
Series 2014-GC21, Class XB, IO		0.490	(cc)		05/10/47		27,500		692,656
Series 2016-GC37, Class XB, IO		0.853	(cc)		04/10/49		33,868		1,653,287
Series 2016-P4, Class XB, IO		1.506	(cc)		07/10/49		9,100		855,780
Series 2017-P8, Class A2		3.109			09/15/50		2,000		1,952,265
Series 2018-B2, Class A3		3.744			03/10/51		7,500		7,517,060
COMM Mortgage Trust,
Series 2012-CR1, Class XA, IO		2.051	(cc)		05/15/45		3,618		220,698
Series 2014-CR19, Class A3		3.530			08/10/47		1,000		1,001,997
Series 2014-UBS4, Class XB, IO, 144A		0.284	(cc)		08/10/47		50,000		638,545
Series 2015-CR24, Class A4		3.432			08/10/48		4,100		4,061,200
CSAIL Commercial Mortgage Trust, Series 2018-CX11, Class A3		4.095			04/15/51		2,250		2,302,651
DBJPM Mortgage Trust,
Series 2016-C3, Class A3		2.362			09/10/49		1,500		1,418,944
Series 2017-C6, Class A3		3.269			06/10/50		4,400		4,329,644
DBWF Mortgage Trust, Series 2016-85T, Class E, 144A		3.935	(cc)		12/10/36		3,000		2,711,333
Eleven Madison Trust Mortgage Trust, Series 2015-11MD, Class C, 144A		3.673	(cc)		09/10/35		500		483,373
FHLMC Multifamily Structured Pass-Through Certificates,
Series K006, Class AX1, IO		1.119	(cc)		01/25/20		18,796		256,202
Series K007, Class X1, IO		1.205	(cc)		04/25/20		25,237		414,876
Series K008, Class X1, IO		1.682	(cc)		06/25/20		11,514		302,834
Series K019, Class X1, IO		1.809	(cc)		03/25/22		9,835		523,625
Series K020, Class X1, IO		1.556	(cc)		05/25/22		10,968		513,582
Series K025, Class X1, IO		0.989	(cc)		10/25/22		19,448		627,499
Series K037, Class X1, IO		1.159	(cc)		01/25/24		10,883		502,714
Series K043, Class X1, IO		0.672	(cc)		12/25/24		12,363		382,447
Series K049, Class X1, IO		0.736	(cc)		07/25/25		41,639		1,526,045
Series K052, Class X1, IO		0.805	(cc)		11/25/25		12,530		510,652
Series K053, Class X1, IO		1.028	(cc)		12/25/25		46,054		2,630,800
Series K054, Class X1, IO		1.317	(cc)		01/25/26		31,287		2,332,989
Series K057, Class X1, IO		1.327	(cc)		07/25/26		26,326		2,092,931
Series K058, Class X1, IO		1.058	(cc)		08/25/26		41,803		2,684,120
Series K717, Class X1, IO		0.622	(cc)		09/25/21		11,426		161,639
Series Q001, Class XA, IO		2.291	(cc)		02/25/32		6,696		1,012,489
GS Mortgage Securities Trust,
Series 2014-GC20, Class XB, IO		0.491	(cc)		04/10/47		30,000		739,791
Series 2014-GC22, Class XB, IO		0.409	(cc)		06/10/47		35,000		702,723
Series 2014-GC24, Class XB, IO		0.021	(cc)		09/10/47		83,262		90,606
Series 2014-GC26, Class XB, IO		0.445	(cc)		11/10/47		56,483		1,170,017
Series 2018-GS9, Class A3		3.727			03/10/51		7,000		7,011,917

See Notes to Financial Statements.

20

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)
JPMBB Commercial Mortgage Securities Trust, Series 2016-C1, Class A3		3.515	%		03/15/49		1,500	$	1,481,214
JPMCC Commercial Mortgage Securities Trust,
Series 2017-JP5, Class A3		3.342			03/15/50		1,600		1,573,455
Series 2017-JP6, Class A3		3.109			07/15/50		4,600		4,491,932
Series 2017-JP7, Class A3		3.379			09/15/50		5,100		5,042,976
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2015-C24, Class XA, IO		0.948	(cc)		05/15/48		26,646		1,155,739
Series 2016-C31, Class A3		2.731			11/15/49		2,211		2,117,994
Morgan Stanley Capital I Trust,
Series 2016-UBS9, Class A2		2.982			03/15/49		1,200		1,177,649
Series 2017-H1, Class A3		3.153			06/15/50		4,500		4,397,186
UBS Commercial Mortgage Trust,
Series 2017-C4, Class A3		3.301			10/15/50		6,500		6,276,995
Series 2017-C6, Class A3		3.581			12/15/50		5,000		4,946,343
Series 2017-C7, Class A3		3.418			12/15/50		4,400		4,276,498
UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class XA, IO, 144A		1.495	(cc)		05/10/63		4,575		206,760
Wells Fargo Commercial Mortgage Trust,
Series 2016-C35, Class XB, IO		1.096	(cc)		07/15/48		24,000		1,619,688
Series 2016-LC24, Class XB, IO		1.161	(cc)		10/15/49		20,910		1,520,255
Series 2017-C40, Class A3		3.317			10/15/50		2,600		2,523,629
Series 2018-C43, Class A3		3.746			03/15/51		8,350		8,339,318
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (cost $137,576,289)									134,825,325
CORPORATE BONDS    10.1%
Airlines    0.0%
Continental Airlines, Inc., Pass-Through Trust, Pass-Through Certificates, Series 2010-1, Class A		4.750			07/12/22		58		59,354
Delta Air Lines, Inc., Pass-Through Trust, Pass-Through Certificates,
Series 2007-1, Class A		6.821			02/10/24		140		153,640
Series 2010-2, Class A		4.950			11/23/20		9		9,318
Series 2011-1, Class A		5.300			10/15/20		108		109,946
UAL, Pass-Through Trust, Pass-Through Certificates, Series 2007-1A, Class A		6.636			01/02/24		73		76,781
									409,039
Apparel    0.1%
PVH Corp.,
Sr. Unsec’d. Notes, 144A		3.125			12/15/27	EUR	575		687,532
Sr. Urnsec’d. Notes, 144A		3.625			07/15/24	EUR	840		1,100,423
									1,787,955

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 21

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
CORPORATE BONDS (Continued)
Auto Manufacturers    0.5%
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes(a)		3.815	%		11/02/27		4,100	$	3,814,598
Sr. Unsec’d. Notes		4.134			08/04/25		250		244,594
General Motors Financial Co., Inc.,
Gtd. Notes		3.200			07/06/21		370		365,421
Gtd. Notes		3.850			01/05/28		3,100		2,884,923
Gtd. Notes		3.950			04/13/24		250		245,365
									7,554,901
Auto Parts & Equipment    0.1%
Adient Global Holdings Ltd., Gtd. Notes, 144A		3.500			08/15/24	EUR	1,234		1,508,729
LKQ Italia Bondco SpA, Gtd. Notes, 144A		3.875			04/01/24	EUR	450		573,307
									2,082,036
Banks    1.6%
Bank of America Corp.,
Series M, Jr. Sub. Notes		8.125			12/31/49		935		936,870
Sr. Unsec’d. Notes, 144A		3.419			12/20/28		2,789		2,619,040
Sr. Unsec’d. Notes, GMTN		3.593			07/21/28		1,780		1,695,717
Citigroup, Inc.,
Series P, Jr. Sub. Notes		5.950			12/31/49		700		708,750
Sr. Unsec’d. Notes		2.750			04/25/22		600		583,274
Sub. Notes		4.400			06/10/25		3,000		2,997,157
Goldman Sachs Group, Inc. (The),
Series L, Jr. Sub. Notes		5.700			12/31/49		2,120		2,167,700
Series M, Jr. Sub. Notes		5.375			12/31/49		700		715,750
Sr. Unsec’d. Notes		3.500			01/23/25		1,500		1,449,611
JPMorgan Chase & Co.,
Series I, Jr. Sub. Notes, 3 Month LIBOR + 3.470%		5.829	(c)		12/31/49		450		453,375
Series V, Jr. Sub. Notes		5.000			12/31/49		1,000		1,014,000
Series X, Jr. Sub. Notes		6.100			12/31/49		1,980		2,051,775
Series Z, Jr. Sub. Notes		5.300			12/31/49		1,410		1,448,916
Sr. Unsec’d. Notes		3.509			01/23/29		3,200		3,031,114
Morgan Stanley,
Series H, Jr. Sub. Notes		5.450			12/31/49		1,415		1,437,994
Sr. Unsec’d. Notes, GMTN		1.375			10/27/26	EUR	2,200		2,612,075
									25,923,118
Biotechnology    0.3%
Amgen, Inc., Sr. Unsec’d. Notes		2.600			08/19/26		600		540,180
Baxalta, Inc., Gtd. Notes		4.000			06/23/25		1,000		979,577
Celgene Corp., Sr. Unsec’d. Notes		3.450			11/15/27		3,345		3,131,787
									4,651,544

See Notes to Financial Statements.

22

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
CORPORATE BONDS (Continued)
Building Materials    0.0%
Owens Corning, Gtd. Notes		4.200	%		12/15/22		270	$	274,649
Chemicals    0.8%
CF Industries, Inc.,
Gtd. Notes(a)		3.450			06/01/23		600		570,000
Sr. Sec’d. Notes, 144A		4.500			12/01/26		6,451		6,458,479
Dow Chemical Co. (The), Sr. Unsec’d. Notes		9.400			05/15/39		152		238,239
LYB International Finance II BV, Gtd. Notes		3.500			03/02/27		5,900		5,594,488
Sherwin-Williams Co. (The), Sr. Unsec’d. Notes		3.450			08/01/25		600		582,110
									13,443,316
Commercial Services    0.1%
ERAC USA Finance LLC, Gtd. Notes, 144A		7.000			10/15/37		190		242,500
United Rentals North America, Inc.,
Gtd. Notes		4.875			01/15/28		715		677,462
Gtd. Notes		5.500			05/15/27		500		497,500
									1,417,462
Computers    0.1%
DXC Technology Co., Sr. Unsec’d. Notes		2.875			03/27/20		1,000		993,352
Diversified Financial Services    0.1%
International Lease Finance Corp., Sr. Unsec’d. Notes		6.250			05/15/19		125		129,101
Lehman Brothers Holdings, Inc., Sr. Unsec’d. Notes(d)		6.875			05/02/18		100		3,310
Private Export Funding Corp., Sr. Unsec’d. Notes, 144A		2.650			02/16/21		1,190		1,182,589
									1,315,000
Electric    0.8%
Calpine Corp., Sr. Unsec’d. Notes(a)		5.750			01/15/25		4,000		3,670,400
ContourGlobal Power Holdings SA, Sr. Sec’d. Notes, 144A		5.125			06/15/21	EUR	505		628,132
DPL, Inc., Sr. Unsec’d. Notes		6.750			10/01/19		346		356,380
NRG Energy, Inc., Gtd. Notes		6.625			01/15/27		1,425		1,465,969
Pacific Gas & Electric Co., Sr. Unsec’d. Notes		3.500			06/15/25		2,788		2,685,470
Public Service Co. of New Mexico, Sr. Unsec’d. Notes		7.950			05/15/18		50		50,095
Vistra Energy Corp.,
Gtd. Notes		7.375			11/01/22		350		368,813
Gtd. Notes		7.625			11/01/24		1,850		1,988,750
Gtd. Notes, 144A		8.125			01/30/26		2,250		2,466,562
									13,680,571

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 23

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
CORPORATE BONDS (Continued)
Electronics    0.0%
Jabil, Inc., Sr. Unsec’d. Notes(a)		4.700	%		09/15/22		655	$	671,965
Entertainment    0.2%
Cinemark USA, Inc., Gtd. Notes		4.875			06/01/23		1,000		987,500
NAI Entertainment Holdings/NAI Entertainment Holdings Finance Corp., Sr. Sec’d. Notes, 144A		5.000			08/01/18		1,000		1,000,200
Scientific Games International, Inc., Gtd. Notes		10.000			12/01/22		750		808,350
WMG Acquisition Corp., Sr. Sec’d. Notes, 144A		4.125			11/01/24	EUR	200		253,571
									3,049,621
Foods    0.2%
Darling Global Finance BV, Gtd. Notes		4.750			05/30/22	EUR	800		990,327
Kraft Heinz Foods Co., Gtd. Notes		3.000			06/01/26		2,000		1,815,658
									2,805,985
Forest Products & Paper    0.0%
International Paper Co., Sr. Unsec’d. Notes		7.300			11/15/39		75		97,751
Healthcare-Products    0.1%
Thermo Fisher Scientific, Inc., Sr. Unsec’d. Notes		2.875			07/24/37	EUR	950		1,177,607
Healthcare-Services    0.4%
Anthem, Inc., Sr. Unsec’d. Notes		4.101			03/01/28		1,005		985,417
CHS/Community Health Systems, Inc.,
Gtd. Notes(a)		6.875			02/01/22		1,000		542,800
Gtd. Notes(a)		7.125			07/15/20		600		474,000
Sr. Sec’d. Notes(a)		5.125			08/01/21		75		69,094
HCA, Inc., Sr. Sec’d. Notes		6.500			02/15/20		750		783,750
Tenet Healthcare Corp., Sr. Unsec’d. Notes(a)		8.125			04/01/22		3,000		3,123,750
									5,978,811
Home Builders    0.1%
KB Home, Gtd. Notes(a)		7.500			09/15/22		1,000		1,097,500
William Lyon Homes, Inc., Gtd. Notes		7.000			08/15/22		800		819,000
									1,916,500
Household Products/Wares    0.0%
Spectrum Brands, Inc., Gtd. Notes, 144A		4.000			10/01/26	EUR	675		822,658
Housewares    0.1%
Newell Brands, Inc., Sr. Unsec’d. Notes		4.200			04/01/26		1,300		1,276,502

See Notes to Financial Statements.

24

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
CORPORATE BONDS (Continued)
Insurance    0.2%
Allied World Assurance Co. Holdings Ltd., Gtd. Notes		5.500	%		11/15/20		30	$	31,830
American International Group, Inc., Sr. Unsec’d. Notes		1.875			06/21/27	EUR	2,100		2,527,816
Liberty Mutual Group, Inc.,
Gtd. Notes, 144A		6.500			03/15/35		90		108,140
Sr. Unsec’d. Notes		2.750			05/04/26	EUR	1,000		1,291,897
									3,959,683
Internet    0.1%
Netflix, Inc., Sr. Unsec’d. Notes, 144A		3.625			05/15/27	EUR	1,300		1,559,969
Lodging    0.0%
MGM Resorts International, Gtd. Notes		6.625			12/15/21		500		535,000
Media    1.0%
21st Century Fox America, Inc.,
Gtd. Notes		6.150			03/01/37		415		511,734
Gtd. Notes		6.900			08/15/39		60		80,108
CCO Holdings LLC/CCO Holdings Capital Corp.,
Sr. Unsec’d. Notes, 144A		5.500			05/01/26		1,000		973,700
Sr. Unsec’d. Notes, 144A		5.875			04/01/24		380		385,282
Sr. Unsec’d. Notes, 144A		5.875			05/01/27		675		659,813
Cequel Communications Holdings I LLC/Cequel Capital Corp.,
Sr. Unsec’d. Notes, 144A		5.125			12/15/21		700		691,985
Sr. Unsec’d. Notes, 144A		5.125			12/15/21		800		792,000
Sr. Unsec’d. Notes, 144A		7.500			04/01/28		2,275		2,306,281
Comcast Corp., Gtd. Notes(a)		3.150			02/15/28		2,000		1,868,145
Discovery Communications LLC,
Gtd. Notes		2.500			09/20/24	GBP	1,200		1,627,182
Gtd. Notes		3.450			03/15/25		2,500		2,388,636
Gtd. Notes(a)		3.950			03/20/28		1,415		1,344,065
DISH DBS Corp., Gtd. Notes(a)		7.750			07/01/26		3,000		2,728,125
Liberty Interactive LLC, Sr. Unsec’d. Notes		8.250			02/01/30		500		537,500
Time Warner Cable LLC, Sr. Sec’d. Notes		8.750			02/14/19		300		313,197
Time Warner, Inc., Gtd. Notes		3.800			02/15/27		85		82,252
									17,290,005
Miscellaneous Manufacturing    0.1%
Actuant Corp., Gtd. Notes		5.625			06/15/22		400		405,000
General Electric Co., Sr. Unsec’d. Notes		2.125			05/17/37	EUR	1,600		1,803,908
Textron, Inc., Sr. Unsec’d. Notes		7.250			10/01/19		200		211,062
									2,419,970

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 25

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date			Principal Amount (000)#		Value
CORPORATE BONDS (Continued)
Office & Business Equipment    0.0%
Xerox Corp., Sr. Unsec’d. Notes		3.625	%		03/15/23			460	$	445,835
Oil & Gas    0.1%
Anadarko Petroleum Corp., Sr. Unsec’d. Notes		6.450			09/15/36			35		41,530
CNX Resources Corp., Gtd. Notes		8.000			04/01/23			950		999,875
										1,041,405
Oil & Gas Services    0.1%
Schlumberger Holdings Corp., Sr. Unsec’d. Notes, 144A		4.000			12/21/25			2,000		2,001,826
Packaging & Containers    0.1%
Ball Corp., Gtd. Notes		4.375			12/15/23		EUR	300		409,702
Greif, Inc., Sr. Unsec’d. Notes		7.750			08/01/19			140		145,950
WestRock MWV LLC, Sr. Unsec’d. Notes		7.375			09/01/19			450		474,502
WestRock RKT Co., Gtd. Notes		4.450			03/01/19			175		177,239
										1,207,393
Pharmaceuticals    0.6%
Allergan Funding SCS,
Gtd. Notes		0.500			06/01/21		EUR	600		725,378
Gtd. Notes		3.800			03/15/25			2,000		1,922,075
Catalent Pharma Solutions, Inc.,
Gtd. Notes		4.750			12/15/24	��	EUR	400		506,926
Gtd. Notes, 144A		4.750			12/15/24		EUR	350		443,560
CVS Health Corp., Sr. Unsec’d. Notes		4.300			03/25/28			1,630		1,612,300
Express Scripts Holding Co., Gtd. Notes		3.050			11/30/22			3,000		2,894,672
Shire Acquisitions Investments Ireland DAC, Gtd. Notes		3.200			09/23/26			2,200		2,005,173
										10,110,084
Pipelines    0.9%
Enterprise Products Operating LLC, Gtd. Notes(a)		3.950			02/15/27			3,000		2,987,975
Kinder Morgan Energy Partners LP, Gtd. Notes		4.150			02/01/24			2,000		1,993,054
MPLX LP,
Sr. Unsec’d. Notes		4.000			03/15/28			515		495,499
Sr. Unsec’d. Notes		4.125			03/01/27			2,000		1,951,464
ONEOK Partners LP, Gtd. Notes		4.900			03/15/25			2,000		2,073,310
Phillips 66 Partners LP, Sr. Unsec’d. Notes(a)		3.605			02/15/25			2,000		1,936,547
Williams Partners LP,
Sr. Unsec’d. Notes		3.750			06/15/27			2,000		1,881,528
Sr. Unsec’d. Notes		4.000			09/15/25			1,500		1,458,061
										14,777,438

See Notes to Financial Statements.

26

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
CORPORATE BONDS (Continued)
Real Estate Investment Trusts (REITs)    0.2%
Brixmor Operating Partnership LP, Sr. Unsec’d. Notes		3.650	%		06/15/24		2,000	$	1,927,258
MPT Operating Partnership LP/MPT Finance Corp., Gtd. Notes		3.325			03/24/25	EUR	1,700		2,099,972
									4,027,230
Retail    0.3%
Ferrellgas Partners LP/Ferrellgas Partners Finance Corp., Sr. Unsec’d. Notes		8.625			06/15/20		750		690,000
L Brands, Inc., Gtd. Notes(a)		5.250			02/01/28		1,630		1,526,087
PetSmart, Inc., Sr. Sec’d. Notes, 144A		5.875			06/01/25		675		484,313
Sally Holdings LLC/Sally Capital, Inc., Gtd. Notes(a)		5.625			12/01/25		1,500		1,466,250
									4,166,650
Semiconductors    0.0%
Micron Technology, Inc., Sr. Unsec’d. Notes		5.500			02/01/25		315		327,600
Software    0.4%
Fidelity National Information Services, Inc.,
Sr. Unsec’d. Notes		0.400			01/15/21	EUR	1,300		1,571,145
Sr. Unsec’d. Notes		1.100			07/15/24	EUR	2,300		2,751,662
First Data Corp., Gtd. Notes, 144A		7.000			12/01/23		1,130		1,182,409
IQVIA, Inc., Gtd. Notes, 144A		3.500			10/15/24	EUR	920		1,149,358
									6,654,574
Telecommunications    0.3%
AT&T, Inc.,
Sr. Unsec’d. Notes		3.550			09/14/37	GBP	1,000		1,390,758
Sr. Unsec’d. Notes		5.250			03/01/37		70		71,533
Sprint Capital Corp., Gtd. Notes		8.750			03/15/32		2,800		3,207,750
Sprint Corp., Gtd. Notes(a)		7.625			02/15/25		300		315,750
									4,985,791
Transportation    0.1%
Norfolk Southern Corp.,
Sr. Unsec’d. Notes, 144A		3.942			11/01/47		232		217,567
Sr. Unsec’d. Notes, 144A		4.050			08/15/52		165		154,608
XPO Logistics, Inc., Gtd. Notes, 144A		6.500			06/15/22		706		728,945
									1,101,120
TOTAL CORPORATE BONDS (cost $169,656,903)									167,941,916

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 27

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS    57.4%
Argentina    1.3%
Argentine Republic Government International Bond,
Sr. Unsec’d. Notes		2.260	%(cc)		12/31/38	EUR	1,000	$	827,446
Sr. Unsec’d. Notes		3.375			10/12/20	CHF	3,860		4,009,765
Sr. Unsec’d. Notes(d)		4.330			12/31/33	JPY	519,215		4,442,867
Sr. Unsec’d. Notes(a)		5.250			01/15/28	EUR	2,540		2,982,949
Sr. Unsec’d. Notes		7.820			12/31/33	EUR	1,238		1,647,026
Sr. Unsec’d. Notes		7.820			12/31/33	EUR	2,064		2,729,973
Unsec’d. Notes		5.000			01/15/27	EUR	3,000		3,518,965
Provincia de Buenos Aires, Sr. Unsec’d. Notes		5.375			01/20/23	EUR	1,100		1,374,816
									21,533,807
Australia    0.1%
Australia Government Bond,
Sr. Unsec’d. Notes		3.000			03/21/47	AUD	2,400		1,705,845
Sr. Unsec’d. Notes		4.250			04/21/26	AUD	600		501,775
New South Wales Treasury Corp., Local Gov’t. Gtd. Notes		5.000			08/20/24	AUD	200		169,857
									2,377,477
Austria    0.3%
Austria Government International Bond,
Sr. Unsec’d. Notes, 144A, EMTN		5.000			12/20/24	CAD	3,500		3,056,922
Sr. Unsec’d. Notes, 144A, MTN		5.375			12/01/34	CAD	1,440		1,395,595
									4,452,517
Belgium    0.4%
Belgium Government Bond,
Sr. Unsec’d. Notes, 144A		0.800			06/22/27	EUR	680		828,712
Sr. Unsec’d. Notes, 144A		0.800			06/22/28	EUR	1,340		1,615,175
Belgium Government International Bond,
Sr. Unsec’d. Notes		9.375			02/21/20	GBP	2,302		3,630,623
Unsec’d. Notes, 144A		8.875			12/01/24		750		974,505
Unsec’d. Notes, EMTN		5.700			05/28/32	GBP	150		290,708
									7,339,723
Brazil    2.0%
Brazil Minas SPE via State of Minas Gerais, Sec’d. Notes		5.333			02/15/28		13,190		13,124,050
Brazilian Government International Bond, Sr. Unsec’d. Notes		2.875			04/01/21	EUR	7,028		8,997,324
Brazilian Loan Trust I, First Lien		5.477			07/24/23		8,635		8,885,718

See Notes to Financial Statements.

28

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Brazil (cont’d.)
JBS USA LUX SA/JBS USA Finance, Inc.,
Gtd. Notes, 144A		5.750	%		06/15/25		545	$	512,136
Gtd. Notes, 144A		7.250			06/01/21		190		191,425
Petrobras Global Finance BV, Gtd. Notes		4.250			10/02/23	EUR	1,400		1,843,309
									33,553,962
Bulgaria    0.8%
Bulgaria Government International Bond,
Sr. Unsec’d. Notes		2.950			09/03/24	EUR	6,765		9,238,548
Unsec’d. Notes, GMTN		2.000			03/26/22	EUR	600		775,278
Unsec’d. Notes, GMTN		2.625			03/26/27	EUR	1,000		1,328,310
Unsec’d. Notes, GMTN		3.125			03/26/35	EUR	1,100		1,432,634
									12,774,770
Canada    1.6%
Barrick Gold Corp., Sr. Unsec’d. Notes		5.250			04/01/42		35		37,510
Barrick North America Finance LLC, Gtd. Notes		5.700			05/30/41		45		50,730
Barrick PD Australia Finance Pty. Ltd., Gtd. Notes		5.950			10/15/39		50		57,524
Bombardier, Inc., Sr. Unsec’d. Notes, 144A		7.500			12/01/24		3,000		3,157,500
Canadian Government Bond,
Unsec’d. Notes		1.750			09/01/19	CAD	600		467,130
Unsec’d. Notes		4.000			06/01/41	CAD	650		648,461
Canadian Natural Resources Ltd., Sr. Unsec’d. Notes		3.850			06/01/27		3,000		2,902,082
Canadian Pacific Railway Co., Sr. Unsec’d. Notes		6.500			05/15/18		77		77,110
Cenovus Energy, Inc., Sr. Unsec’d. Notes(a)		4.250			04/15/27		3,500		3,365,399
City of Toronto, Sr. Unsec’d. Notes		3.500			06/02/36	CAD	2,000		1,583,286
City of Vancouver, Unsec’d. Notes		4.500			06/01/20	CAD	200		162,989
Hydro-Quebec, Local Gov’t.
Gtd. Notes		8.400			01/15/22		72		83,809
Gtd. Notes		8.625			06/15/29		600		847,029
Gtd. Notes		9.400			02/01/21		730		848,631
Methanex Corp., Sr. Unsec’d. Notes		4.250			12/01/24		1,500		1,481,920
Municipal Finance Authority of British Columbia, Unsec’d. Notes		4.450			06/01/20	CAD	2,100		1,711,403
Nutrien Ltd.,
Sr. Unsec’d. Notes		3.375			03/15/25		1,450		1,380,277
Sr. Unsec’d. Notes		6.125			01/15/41		25		29,192
Ontario Teachers’ Finance Trust, Local Gov’t.
Gtd. Notes, 144A		2.125			09/19/22		1,250		1,197,559
Gtd. Notes, 144A		2.750			04/16/21		500		496,672
Province of British Columbia,
Unsec’d. Notes		3.200			06/18/44	CAD	200		158,692
Unsec’d. Notes		7.875			11/30/23	CAD	2,122		2,049,487

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 29

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Canada (cont’d.)
Province of Manitoba,
Unsec’d. Notes		2.550	%		06/02/26	CAD	250	$	189,507
Unsec’d. Notes		8.800			01/15/20		360		394,233
Province of Nova Scotia, Sr. Unsec’d. Notes		8.250			11/15/19		10		10,761
Province of Ontario, Sr. Unsec’d. Notes		2.250			05/18/22		500		482,910
Province of Quebec,
Unsec’d. Notes		7.125			02/09/24		1,139		1,356,651
Unsec’d. Notes, MTN		6.350			01/30/26		500		581,308
Unsec’d. Notes, MTN		7.140			02/27/26		430		519,972
									26,329,734
Cayman Islands    0.1%
Cayman Islands Government Bond, Sr. Unsec’d. Notes		5.950			11/24/19		2,150		2,268,250
Chile    0.1%
Chile Government International Bond,
Sr. Unsec’d. Notes		1.625			01/30/25	EUR	100		125,421
Sr. Unsec’d. Notes		1.750			01/20/26	EUR	240		301,735
Sr. Unsec’d. Notes		1.875			05/27/30	EUR	400		497,289
									924,445
China    0.1%
China Development Bank, Sr. Unsec’d. Notes, EMTN		0.500			06/01/21	EUR	1,000		1,207,712
Sinopec Group Overseas Development 2015 Ltd., Gtd. Notes, 144A		2.500			04/28/20		500		491,576
									1,699,288
Colombia    1.1%
Colombia Government International Bond,
Sr. Unsec’d. Notes		4.000			02/26/24		1,000		997,500
Sr. Unsec’d. Notes		8.375			02/15/27		2,395		2,778,200
Sr. Unsec’d. Notes		10.375			01/28/33		1,300		2,034,500
Sr. Unsec’d. Notes		11.750			02/25/20		1,715		1,964,532
Sr. Unsec’d. Notes, EMTN		3.875			03/22/26	EUR	7,398		10,238,148
									18,012,880
Costa Rica    0.1%
Costa Rica Government International Bond, Unsec’d. Notes		4.370			05/22/19		1,200		1,200,540

See Notes to Financial Statements.

30

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Croatia    0.3%
Croatia Government International Bond,
Sr. Unsec’d. Notes		3.875	%		05/30/22	EUR	3,000	$	4,028,910
Sr. Unsec’d. Notes		5.500			04/04/23		1,000		1,060,510
Sr. Unsec’d. Notes		6.375			03/24/21		500		536,500
									5,625,920
Cyprus    1.8%
Cyprus Government International Bond,
Sr. Unsec’d. Notes, EMTN		3.750			07/26/23	EUR	12,755		16,940,126
Sr. Unsec’d. Notes, EMTN		4.250			11/04/25	EUR	4,944		6,762,036
Sr. Unsec’d. Notes, EMTN		4.750			06/25/19	EUR	500		635,015
Unsec’d. Notes, EMTN		3.875			05/06/22	EUR	4,500		5,974,655
									30,311,832
Denmark    0.1%
Denmark Government Bond,
Unsec’d. Notes		1.750			11/15/25	DKK	3,520		631,748
Unsec’d. Notes		3.000			11/15/21	DKK	3,000		543,201
Unsec’d. Notes		4.500			11/15/39	DKK	1,800		485,721
									1,660,670
Dominican Republic    0.3%
Dominican Republic International Bond, Sr. Unsec’d. Notes		7.500			05/06/21		4,000		4,226,000
Egypt    0.2%
Egypt Government International Bond,
Sr. Unsec’d. Notes, 144A		4.750			04/16/26	EUR	700		842,737
Sr. Unsec’d. Notes, 144A		5.577			02/21/23		1,835		1,841,423
									2,684,160
Finland    0.0%
Finland Government International Bond, Sr. Unsec’d. Notes		6.950			02/15/26		600		733,873
France    3.0%
Agence Francaise de Developpement, Sr. Unsec’d. Notes		1.625			01/21/20		2,000		1,960,356
BNP Paribas SA,
Sr. Unsec’d. Notes, 144A(a)		3.375			01/09/25		4,800		4,594,874
Sr. Unsec’d. Notes, EMTN		6.420			09/11/23	MXN	250		11,566

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 31

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
France (cont’d.)
Caisse d’Amortissement de la Dette Sociale, Sr. Unsec’d. Notes, EMTN		4.450	%		10/26/18	CAD	700	$	552,162
Credit Agricole Assurances SA, Sub. Notes		4.250			12/31/49	EUR	2,000		2,603,975
Dexia Credit Local SA,
Gov’t. Liquid Gtd. Notes		2.250			02/18/20		250		247,369
Gov’t. Liquid Gtd. Notes, 144A		1.875			09/15/21		1,500		1,442,288
Gov’t. Liquid Gtd. Notes, 144A		2.500			01/25/21		1,250		1,233,733
Gov’t. Liquid Gtd. Notes, EMTN		0.875			09/07/21	GBP	200		270,734
Gov’t. Liquid Gtd. Notes, EMTN		1.125			02/24/19	GBP	400		551,470
Gov’t. Liquid Gtd. Notes, EMTN		2.000			01/22/21	EUR	1,000		1,277,802
France Government Bond OAT,
Unsec’d. Notes		0.500			05/25/26	EUR	350		422,111
Unsec’d. Notes		1.750			11/25/24	EUR	300		396,424
Unsec’d. Notes		2.750			10/25/27	EUR	18,000		25,879,970
Unsec’d. Notes		3.500			04/25/26	EUR	4,000		5,982,538
Horizon Parent Holdings Sarl, Sr. Sec’d. Notes, Cash coupon 8.250% or PIK 9.000%, 144A		8.250			02/15/22	EUR	300		381,299
SNCF Reseau EPIC, Sr. Unsec’d. Notes, EMTN		5.250			12/07/28	GBP	1,000		1,779,165
									49,587,836
Germany    0.6%
Deutsche Bahn Finance GmbH, Gtd. Notes, MTN		3.800			09/27/27	AUD	900		679,250
Deutsche Bank AG,
Sr. Unsec’d. Notes		3.150			01/22/21		2,760		2,710,806
Sr. Unsec’d. Notes		3.950			02/27/23		3,040		2,995,444
IHO Verwaltungs GmbH,
Sr. Sec’d. Notes, Cash coupon 3.250% or PIK 4.000%, 144A		3.250			09/15/23	EUR	480		597,692
Sr. Sec’d. Notes, Cash coupon 3.750% or PIK 4.500%, 144A		3.750			09/15/26	EUR	465		589,610
Kreditanstalt fuer Wiederaufbau, Gov’t. Gtd. Notes		4.700			06/02/37	CAD	179		169,472
Nidda Healthcare Holding GmbH, Sr. Sec’d. Notes, 144A		3.500			09/30/24	EUR	1,000		1,189,665
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, Sr. Sec’d. Notes		4.000			01/15/25	EUR	350		447,892
Volkswagen International Finance NV, Gtd. Notes		3.750			12/31/49	EUR	1,000		1,284,438
									10,664,269

See Notes to Financial Statements.

32

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Greece    2.8%
Hellenic Republic Government Bond,
Sr. Unsec’d. Notes		—	%(p)		10/15/42	EUR	303,880	$	1,467,860
Sr. Unsec’d. Notes		3.000	(cc)		02/24/23	EUR	1,145		1,395,464
Sr. Unsec’d. Notes		3.000	(cc)		02/24/24	EUR	3,772		4,570,753
Sr. Unsec’d. Notes		3.000	(cc)		02/24/25	EUR	2,115		2,534,146
Sr. Unsec’d. Notes		3.000	(cc)		02/24/26	EUR	1,445		1,713,374
Sr. Unsec’d. Notes		3.000	(cc)		02/24/27	EUR	4,824		5,710,721
Sr. Unsec’d. Notes		3.000	(cc)		02/24/28	EUR	1,470		1,717,073
Sr. Unsec’d. Notes		3.000	(cc)		02/24/29	EUR	1,420		1,636,520
Sr. Unsec’d. Notes		3.000	(cc)		02/24/30	EUR	150		170,618
Sr. Unsec’d. Notes		3.000	(cc)		02/24/31	EUR	3,465		3,881,533
Sr. Unsec’d. Notes		3.000	(cc)		02/24/32	EUR	1,055		1,168,368
Sr. Unsec’d. Notes		3.000	(cc)		02/24/33	EUR	50		55,082
Sr. Unsec’d. Notes		3.000	(cc)		02/24/34	EUR	475		514,120
Sr. Unsec’d. Notes		3.000	(cc)		02/24/35	EUR	1,810		1,970,565
Sr. Unsec’d. Notes		3.000	(cc)		02/24/36	EUR	480		515,249
Sr. Unsec’d. Notes		3.000	(cc)		02/24/37	EUR	200		215,225
Sr. Unsec’d. Notes		3.000	(cc)		02/24/38	EUR	270		287,947
Sr. Unsec’d. Notes		3.000	(cc)		02/24/39	EUR	774		820,243
Sr. Unsec’d. Notes		3.000	(cc)		02/24/40	EUR	460		487,893
Sr. Unsec’d. Notes		3.000	(cc)		02/24/41	EUR	465		496,166
Sr. Unsec’d. Notes		3.000	(cc)		02/24/42	EUR	170		181,840
Sr. Unsec’d. Notes, 144A		3.375			02/15/25	EUR	5,345		6,408,656
Unsec’d. Notes		3.900			01/30/33	EUR	2,080		2,380,789
Hellenic Republic Government International Bond,
Sr. Unsec’d. Notes		5.200			07/17/34	EUR	5,337		6,564,892
Sr. Unsec’d. Notes		6.140			04/14/28	EUR	100		135,304
									47,000,401
Guernsey    0.1%
States of Guernsey Bond, Sr. Unsec’d. Notes		3.375			12/12/46	GBP	1,280		1,999,868
Hong Kong    0.1%
Hong Kong SAR Government Bond, Unsec’d. Notes		5.125			07/23/19	HKD	5,000		662,869
Hong Kong Sukuk Ltd., Sr. Unsec’d. Notes		3.132			02/28/27		1,500		1,459,091
									2,121,960
Hungary    1.2%
Hungary Government Bond,
Unsec’d. Notes		3.000			10/27/27	HUF	300,000		1,201,366
Unsec’d. Notes		5.500			12/20/18	HUF	100,000		398,263

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 33

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Hungary (cont’d.)
Hungary Government International Bond,
Sr. Unsec’d. Notes		4.000	%		03/25/19		332	$	334,822
Sr. Unsec’d. Notes		5.375			02/21/23		2,850		3,050,925
Sr. Unsec’d. Notes		5.750			06/11/18	EUR	500		607,487
Sr. Unsec’d. Notes		5.750			11/22/23		2,850		3,109,350
Sr. Unsec’d. Notes		6.250			01/29/20		5,200		5,460,000
Sr. Unsec’d. Notes		6.375			03/29/21		4,530		4,881,075
MFB Magyar Fejlesztesi Bank Zrt, Gov’t. Gtd. Notes		6.250			10/21/20		400		425,971
									19,469,259
Iceland    0.5%
Iceland Government International Bond,
Sr. Unsec’d. Notes		5.875			05/11/22		1,000		1,110,503
Sr. Unsec’d. Notes, EMTN		0.500			12/20/22	EUR	500		605,995
Sr. Unsec’d. Notes, EMTN		2.500			07/15/20	EUR	5,006		6,375,155
									8,091,653
Indonesia    1.9%
Indonesia Government International Bond,
Sr. Unsec’d. Notes		3.375			07/30/25	EUR	5,005		6,678,422
Sr. Unsec’d. Notes, 144A, MTN		2.150			07/18/24	EUR	1,395		1,743,190
Sr. Unsec’d. Notes, MTN		2.150			07/18/24	EUR	2,000		2,499,197
Sr. Unsec’d. Notes, MTN		2.625			06/14/23	EUR	1,000		1,288,612
Sr. Unsec’d. Notes, MTN		2.875			07/08/21	EUR	4,546		5,904,217
Sr. Unsec’d. Notes, MTN		3.750			06/14/28	EUR	7,080		9,736,080
Unsec’d. Notes(a)		1.750			04/24/25	EUR	1,600		1,933,123
Majapahit Holding BV, Gtd. Notes		7.750			01/20/20		800		855,040
Pertamina Persero PT, Sr. Unsec’d. Notes, 144A, MTN		4.300			05/20/23		500		499,730
									31,137,611
Iraq    0.1%
Iraq International Bond, Sr. Unsec’d. Notes		6.752			03/09/23		1,700		1,698,756
Ireland    0.2%
Ireland Government Bond,
Unsec’d. Notes		2.400			05/15/30	EUR	1,200		1,656,559
Unsec’d. Notes		5.400			03/13/25	EUR	900		1,447,764
									3,104,323

See Notes to Financial Statements.

34

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Isle of Man    0.6%
Isle of Man Government International Bond,
Unsec’d. Notes		5.375	%		08/14/34	GBP	1,000	$	1,887,541
Unsec’d. Notes		5.625			03/29/30	GBP	4,000		7,242,292
									9,129,833
Israel    0.5%
Israel Electric Corp. Ltd., Sr. Sec’d. Notes, 144A, GMTN		4.250			08/14/28		3,700		3,533,389
Israel Government Bond - Fixed, Unsec’d. Notes		2.000			03/31/27	ILS	1,000		281,749
Israel Government International Bond,
Sr. Unsec’d. Notes, EMTN		1.500			01/18/27	EUR	1,600		1,970,027
Sr. Unsec’d. Notes, EMTN		2.875			01/29/24	EUR	1,000		1,344,290
Sr. Unsec’d. Notes, EMTN		4.625			03/18/20	EUR	330		433,728
									7,563,183
Italy    5.3%
Cassa Del Trentino Spa, Local Gov’t. Gtd. Notes, EMTN		1.160			06/17/26	EUR	857		1,035,316
Intesa Sanpaolo SpA,
Sr. Unsec’d. Notes, 144A		3.125			07/14/22		2,500		2,409,057
Sr. Unsec’d. Notes, 144A		3.375			01/12/23		310		300,329
Italy Buoni Poliennali Del Tesoro,
Sr. Unsec’d. Notes		0.650			10/15/23	EUR	2,000		2,398,048
Sr. Unsec’d. Notes		1.350			04/15/22	EUR	535		670,431
Sr. Unsec’d. Notes		2.000			12/01/25	EUR	2,200		2,776,412
Sr. Unsec’d. Notes		3.750			09/01/24	EUR	7,855		11,048,925
Sr. Unsec’d. Notes		6.500			11/01/27	EUR	2,695		4,628,700
Sr. Unsec’d. Notes, 144A		4.750			09/01/28	EUR	5,590		8,588,763
Unsec’d. Notes		2.050			08/01/27	EUR	5,000		6,223,309
Unsec’d. Notes		4.500			03/01/26	EUR	8,545		12,697,398
Italy Government International Bond,
Sr. Unsec’d. Notes		6.875			09/27/23		2,700		3,117,420
Sr. Unsec’d. Notes, EURIBOR ICE Swap Rate 11:00am (Cap 7.000%, Floor 2.000%), EMTN		2.000	(c)		06/15/20	EUR	1,550		1,951,871
Sr. Unsec’d. Notes, EMTN		3.444			12/31/24	EUR	5,156		6,540,784
Sr. Unsec’d. Notes, EMTN		4.250	(cc)		06/28/29	EUR	5,818		8,538,462
Sr. Unsec’d. Notes, EMTN		5.200			07/31/34	EUR	250		402,183
Sr. Unsec’d. Notes, EMTN		5.250			12/07/34	GBP	1,090		1,810,533
Sr. Unsec’d. Notes, EMTN		6.000			08/04/28	GBP	4,111		6,964,743
Sr. Unsec’d. Notes, MTN		5.375			06/15/33		590		675,585

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 35

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Italy (cont’d.)
Italy Government International Bond Strips Coupon, Sr. Unsec’d. Notes		3.518	%(s)		03/27/23		775	$	639,224
Moby SpA, Sr. Sec’d. Notes, 144A		7.750			02/15/23	EUR	450		494,549
Region of Lazio, Sr. Unsec’d. Notes		3.088			03/31/43	EUR	991		1,206,394
Telecom Italia SpA, Sr. Unsec’d. Notes, EMTN		5.875			05/19/23	GBP	500		788,154
Wind Tre SpA,
First Lien, 144A		2.625			01/20/23	EUR	640		702,416
First Lien, 144A		3.125			01/20/25	EUR	1,320		1,403,384
									88,012,390
Japan    2.9%
Development Bank of Japan, Inc., Sr. Unsec’d. Notes, GMTN		0.375			10/21/19	EUR	1,000		1,216,253
East Japan Railway Co., Sr. Unsec’d. Notes, EMTN		5.250			04/22/33	GBP	1,500		2,774,363
Japan Bank for International Cooperation,
Gov’t. Gtd. Notes		1.500			07/21/21		2,000		1,901,590
Gov’t. Gtd. Notes		1.750			05/29/19		1,400		1,384,671
Gov’t. Gtd. Notes		2.250			02/24/20		600		593,613
Japan Finance Organization for Municipalities,
Gov’t. Gtd. Notes, EMTN		5.750			08/09/19	GBP	400		582,136
Sr. Unsec’d. Notes, 144A, MTN		2.000			09/08/20		2,200		2,146,860
Sr. Unsec’d. Notes, 144A, MTN		2.125			04/13/21		1,000		970,162
Sr. Unsec’d. Notes, EMTN		0.875			09/22/21	EUR	2,535		3,123,414
Sr. Unsec’d. Notes, EMTN		2.125			02/12/21		600		583,150
Sr. Unsec’d. Notes, EMTN		2.125			04/13/21		1,200		1,164,194
Sr. Unsec’d. Notes, EMTN		2.500			09/12/18		2,000		1,999,160
Sr. Unsec’d. Notes, EMTN		2.625			04/20/22		1,000		975,321
Sr. Unsec’d. Notes, EMTN		3.060			12/21/20	AUD	2,000		1,512,983
Japan Government Twenty Year Bond,
Sr. Unsec’d. Notes		0.200			06/20/36	JPY	450,000		3,934,207
Sr. Unsec’d. Notes		0.400			03/20/36	JPY	100,000		908,141
Sr. Unsec’d. Notes		0.600			12/20/36	JPY	665,000		6,217,920
Sr. Unsec’d. Notes		0.700			03/20/37	JPY	150,000		1,424,479
Sr. Unsec’d. Notes(k)		1.400			09/20/34	JPY	145,000		1,544,704
Sr. Unsec’d. Notes		1.500			06/20/34	JPY	50,000		539,215
Sr. Unsec’d. Notes		1.800			12/20/31	JPY	148,000		1,638,600
Japan International Cooperation Agency, Gov’t. Gtd. Notes		1.875			11/13/19		2,000		1,968,300
Japanese Government CPI Linked Bond, Sr. Unsec’d. Notes		0.100			03/10/27	JPY	218,291		2,116,612
Mizuho Financial Group, Inc., Sr. Unsec’d. Notes		3.549			03/05/23		2,100		2,082,618
Tokyo Metropolitan Government,
Sr. Unsec’d. Notes		1.625			06/06/18		1,000		998,800

See Notes to Financial Statements.

36

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Japan (cont’d.)
Tokyo Metropolitan Government, (cont’d.)
Sr. Unsec’d. Notes		2.000	%		05/17/21		2,500	$	2,407,118
Sr. Unsec’d. Notes		2.125			05/20/19		400		396,994
Sr. Unsec’d. Notes		2.125			05/19/20		1,000		981,660
									48,087,238
Kuwait    0.1%
Kuwait International Government Bond, Sr. Unsec’d. Notes, 144A		2.750			03/20/22		2,050		1,985,937
Latvia    0.1%
Latvia Government International Bond,
Sr. Unsec’d. Notes		2.750			01/12/20		1,000		992,574
Sr. Unsec’d. Notes, MTN		2.625			01/21/21	EUR	200		259,087
									1,251,661
Lithuania    0.6%
Lithuania Government International Bond,
Sr. Unsec’d. Notes		6.125			03/09/21		4,500		4,839,264
Sr. Unsec’d. Notes		6.625			02/01/22		3,220		3,582,250
Sr. Unsec’d. Notes		7.375			02/11/20		1,090		1,171,469
									9,592,983
Macedonia    0.0%
Macedonia Government International Bond, Sr. Unsec’d. Notes, 144A		3.975			07/24/21	EUR	500		643,046
Malaysia    0.5%
Malaysia Government Bond,
Sr. Unsec’d. Notes		3.580			09/28/18	MYR	6,000		1,530,103
Sr. Unsec’d. Notes		3.620			11/30/21	MYR	15		3,818
Sr. Unsec’d. Notes		4.048			09/30/21	MYR	13,815		3,549,893
Sr. Unsec’d. Notes		4.059			09/30/24	MYR	10,000		2,565,646
									7,649,460
Mexico    2.8%
Mexico Government International Bond,
Sr. Unsec’d. Notes		1.375			01/15/25	EUR	620		740,408
Sr. Unsec’d. Notes		2.750			04/22/23	EUR	7,125		9,322,583
Sr. Unsec’d. Notes		4.000			03/15/2115	EUR	950		1,091,484
Sr. Unsec’d. Notes, EMTN		1.750			04/17/28	EUR	800		939,511
Sr. Unsec’d. Notes, EMTN		2.375			04/09/21	EUR	4,500		5,772,068
Sr. Unsec’d. Notes, EMTN		5.500			02/17/20	EUR	400		530,349

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 37

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Mexico (cont’d.)
Mexico Government International Bond, (cont’d.)
Sr. Unsec’d. Notes, EMTN		5.625	%		03/19/2114	GBP	200	$	292,207
Sr. Unsec’d. Notes, EMTN		6.750			02/06/24	GBP	1,044		1,756,505
Sr. Unsec’d. Notes, GMTN		1.625			03/06/24	EUR	7,105		8,698,818
Sr. Unsec’d. Notes, MTN		7.500			04/08/33		875		1,142,397
Petroleos Mexicanos,
Gtd. Notes		5.500			02/24/25	EUR	2,390		3,343,616
Gtd. Notes, 144A		5.350			02/12/28		1,250		1,189,250
Gtd. Notes, EMTN		1.875			04/21/22	EUR	2,500		3,038,619
Gtd. Notes, EMTN		2.500			08/21/21	EUR	600		750,281
Gtd. Notes, EMTN		3.750			02/21/24	EUR	1,300		1,660,146
Gtd. Notes, EMTN		3.750			11/16/25	GBP	2,500		3,376,378
Gtd. Notes, EMTN(a)		3.750			04/16/26	EUR	700		863,796
Gtd. Notes, EMTN		8.250			06/02/22	GBP	928		1,552,529
									46,060,945
Montenegro    0.1%
Montenegro Government International Bond, Sr. Unsec’d. Notes, 144A		3.375			04/21/25	EUR	750		898,725
Netherlands    0.7%
ABN AMRO Bank NV, Sub. Notes, 144A		4.750			07/28/25		500		506,288
Bank Nederlandse Gemeenten NV,
Sr. Unsec’d. Notes		5.150			03/07/25	CAD	1,000		879,084
Sr. Unsec’d. Notes, EMTN		0.500			03/03/21	NZD	3,000		1,958,851
Sr. Unsec’d. Notes, EMTN		0.500			03/29/21	NZD	2,200		1,433,294
Sr. Unsec’d. Notes, EMTN		0.500			05/12/21	ZAR	10,000		633,363
Sr. Unsec’d. Notes, EMTN		0.500			06/22/21	ZAR	6,000		383,865
Sr. Unsec’d. Notes, EMTN		0.500			06/07/22	ZAR	10,000		580,983
Sr. Unsec’d. Notes, EMTN		0.500			08/15/22	ZAR	30,000		1,709,136
Sr. Unsec’d. Notes, EMTN		3.184	(s)		04/05/28	CAD	700		387,501
Sr. Unsec’d. Notes, EMTN		7.000			12/09/21	AUD	2,000		1,707,258
Sr. Unsec’d. Notes, MTN		5.500			05/23/22	AUD	338		281,028
ING Bank NV, Sub. Notes, 144A		5.800			09/25/23		500		537,494
Ziggo Bond Finance BV, Sr. Unsec’d. Notes		4.625			01/15/25	EUR	750		917,192
									11,915,337
New Zealand    0.4%
Auckland Council,
Sr. Sec’d. Notes		2.900			09/16/27	AUD	1,000		711,791
Sr. Sec’d. Notes		3.500			03/09/26	AUD	2,000		1,509,121

See Notes to Financial Statements.

38

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
New Zealand (cont’d.)
New Zealand Government Bond, Sr. Unsec’d. Notes		4.500	%		04/15/27	NZD	1,500	$	1,191,703
New Zealand Local Government Funding Agency,
Sr. Unsec’d. Notes		2.750			04/15/25	NZD	1,800		1,210,182
Sr. Unsec’d. Notes		4.500			04/15/27	NZD	1,800		1,340,213
Sr. Unsec’d. Notes		6.000			05/15/21	NZD	500		386,164
									6,349,174
Norway    0.3%
City of Oslo,
Sr. Unsec’d. Notes		3.600			12/06/22	NOK	1,000		135,201
Sr. Unsec’d. Notes		3.650			11/08/23	NOK	9,000		1,224,518
Unsec’d. Notes		4.900			11/04/19	NOK	5,000		655,436
Kommunalbanken AS, Sr. Unsec’d. Notes, MTN		5.125			05/14/21	NZD	2,850		2,139,497
									4,154,652
Panama    0.2%
Panama Government International Bond,
Sr. Unsec’d. Notes		4.000			09/22/24		400		405,000
Sr. Unsec’d. Notes		8.125			04/28/34		638		874,060
Sr. Unsec’d. Notes		9.375			01/16/23		622		782,165
Sr. Unsec’d. Notes		9.375			04/01/29		800		1,138,000
Sr. Unsec’d. Notes		10.750			05/15/20		275		330,000
									3,529,225
Peru    1.0%
Peru Enhanced Pass-Through Finance Ltd.,
Pass-Through Certificates		2.933	(s)		06/02/25		1,000		857,500
Pass-Through Certificates, 144A		1.426	(s)		05/31/18		325		320,898
Peruvian Government International Bond,
Sr. Unsec’d. Notes		2.750			01/30/26	EUR	4,920		6,513,538
Sr. Unsec’d. Notes		3.750			03/01/30	EUR	5,800		8,381,070
									16,073,006
Poland    0.7%
Poland Government Bond,
Unsec’d. Notes		1.750			07/25/21	PLN	2,000		567,774
Unsec’d. Notes		2.500			07/25/27	PLN	8,000		2,179,694
Unsec’d. Notes		3.250			07/25/25	PLN	5,050		1,475,929
Poland Government International Bond, Sr. Unsec’d. Notes		5.000			03/23/22		7,355		7,803,949
									12,027,346

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 39

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Portugal    2.4%
Infraestruturas de Portugal SA, Sr. Unsec’d. Notes		4.250	%		12/13/21	EUR	1,000	$	1,355,155
Metropolitano de Lisboa EPE, Gov’t. Gtd. Notes		4.799			12/07/27	EUR	1,000		1,519,158
Portugal Government International Bond, Sr. Unsec’d. Notes, MTN		5.125			10/15/24		4,500		4,765,905
Portugal Obrigacoes do Tesouro OT, Sr. Unsec’d. Notes, 144A		3.875			02/15/30	EUR	21,955		31,941,371
									39,581,589
Qatar    0.2%
Qatar Government International Bond,
Sr. Unsec’d. Notes, 144A		3.875			04/23/23		1,040		1,035,684
Sr. Unsec’d. Notes, 144A		4.500			04/23/28		2,000		1,996,208
									3,031,892
Romania    0.7%
Romanian Government International Bond,
Sr. Unsec’d. Notes		6.500			06/18/18	EUR	1,000		1,217,725
Sr. Unsec’d. Notes, 144A		2.500			02/08/30	EUR	4,150		4,923,831
Unsec’d. Notes, 144A, MTN		2.875			05/26/28	EUR	1,100		1,382,555
Sr. Unsec’d. Notes, EMTN		2.375			04/19/27	EUR	1,000		1,225,712
Sr. Unsec’d. Notes, EMTN		3.875			10/29/35	EUR	1,000		1,281,262
Sr. Unsec’d. Notes, EMTN		6.750			02/07/22		300		329,796
Unsec’d. Notes, MTN(a)		2.875			05/26/28	EUR	700		879,808
									11,240,689
Russia    0.7%
Gazprom OAO Via Gaz Capital SA,
Sr. Unsec’d. Notes		2.250			07/19/22	CHF	1,000		1,023,713
Sr. Unsec’d. Notes		4.250			04/06/24	GBP	3,800		5,375,360
Sr. Unsec’d. Notes, EMTN		2.850			10/25/19	CHF	2,000		2,074,737
Sr. Unsec’d. Notes, EMTN		5.338			09/25/20	GBP	1,200		1,737,957
Russian Federal Bond - OFZ, Unsec’d. Notes		7.050			01/19/28	RUB	60,000		947,080
Russian Foreign Bond, Sr. Unsec’d. Notes		4.500			04/04/22		400		405,813
									11,564,660
Saudi Arabia    0.5%
KSA Sukuk Ltd., Sr. Unsec’d. Notes, EMTN		2.894			04/20/22		1,000		963,580
Saudi Government International Bond,
Sr. Unsec’d. Notes, 144A, MTN		2.375			10/26/21		1,200		1,150,152
Sr. Unsec’d. Notes, 144A, MTN		2.875			03/04/23		3,335		3,181,317

See Notes to Financial Statements.

40

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Saudi Arabia (cont’d.)
Saudi Government International Bond, (cont’d.)
Sr. Unsec’d. Notes, 144A, MTN		4.000	%		04/17/25		1,135	$	1,118,813
Sr. Unsec’d. Notes, EMTN		2.875			03/04/23		1,300		1,240,093
									7,653,955
Senegal    0.1%
Senegal Government International Bond, Sr. Unsec’d. Notes, 144A		4.750			03/13/28	EUR	1,395		1,669,910
Serbia    0.2%
Serbia International Bond, Unsec’d. Notes		5.875			12/03/18		2,500		2,534,300
Singapore    0.0%
Singapore Government Bond, Sr. Unsec’d. Notes		3.000			09/01/24	SGD	500		390,271
Temasek Financial I Ltd., Gtd. Notes, GMTN		3.265			02/19/20	SGD	500		383,971
									774,242
Slovak Republic    0.1%
Slovakia Government International Bond, Sr. Unsec’d. Notes		2.125			10/16/23	CHF	2,000		2,230,071
Slovenia    0.6%
Slovenia Government International Bond,
Sr. Unsec’d. Notes		4.750			05/10/18		1,500		1,500,000
Sr. Unsec’d. Notes		5.250			02/18/24		213		233,478
Sr. Unsec’d. Notes, 144A		5.250			02/18/24		7,709		8,450,159
									10,183,637
South Africa    0.6%
Sappi Papier Holding GmbH, Gtd. Notes		3.375			04/01/22	EUR	600		735,789
South Africa Government Bond,
Sr. Unsec’d. Notes		6.750			03/31/21	ZAR	10,000		790,935
Unsec’d. Notes		7.000			02/28/31	ZAR	1,800		125,920
Unsec’d. Notes		10.500			12/21/26	ZAR	5,000		457,561
South Africa Government International Bond,
Sr. Unsec’d. Notes(a)		3.750			07/24/26	EUR	4,415		5,724,716
Unsec’d. Notes, EMTN		3.800			09/07/21	JPY	100,000		979,144
ZAR Sovereign Capital Fund Propriety Ltd., Sr. Unsec’d. Notes, 144A		3.903			06/24/20		1,000		1,002,500
									9,816,565

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 41

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
South Korea    0.5%
Export-Import Bank of Korea,
Sr. Unsec’d. Notes		5.125	%		10/15/19	NZD	200	$	144,258
Sr. Unsec’d. Notes, EMTN		2.711			12/05/19	CAD	200		155,413
Sr. Unsec’d. Notes, EMTN		3.500			09/26/19	AUD	100		75,258
Sr. Unsec’d. Notes, EMTN		4.430			09/14/18	AUD	2,318		1,749,080
Sr. Unsec’d. Notes, EMTN		5.375			09/12/19	AUD	1,000		775,685
Sr. Unsec’d. Notes, MTN		3.500			07/28/21	NZD	2,000		1,404,161
Korea International Bond,
Sr. Unsec’d. Notes		2.125			06/10/24	EUR	1,100		1,427,055
Sr. Unsec’d. Notes		4.250			12/07/21	EUR	1,700		2,352,136
									8,083,046
Spain    5.2%
Adif-Alta Velocidad,
Sr. Unsec’d. Notes, EMTN		1.875			01/28/25	EUR	1,900		2,420,988
Sr. Unsec’d. Notes, EMTN		3.500			05/27/24	EUR	400		558,900
Autonomous Community of Catalonia, Sr. Unsec’d. Notes, EMTN		5.900			05/28/30	EUR	2,500		3,665,335
Banco Santander SA, Sr. Unsec’d. Notes		4.250			04/11/27		2,200		2,173,222
Instituto de Credito Oficial,
Gov’t. Gtd. Notes, EMTN		3.250			06/28/24	CHF	1,300		1,532,190
Gov’t. Gtd. Notes, EMTN		5.000			03/31/20	CAD	1,800		1,463,118
Gov’t. Gtd. Notes, GMTN		0.963			09/22/22	SEK	20,000		2,300,428
Gov’t. Gtd. Notes, 144A		1.625			09/14/18		1,000		995,557
Spain Government Bond,
Sr. Unsec’d. Notes(k)		1.400			01/31/20	EUR	1,800		2,240,530
Sr. Unsec’d. Notes(k)		2.750			04/30/19	EUR	1,150		1,432,691
Sr. Unsec’d. Notes, 144A		1.400			04/30/28	EUR	6,410		7,824,854
Sr. Unsec’d. Notes, 144A		1.450			10/31/27	EUR	4,225		5,212,451
Sr. Unsec’d. Notes, 144A		2.900			10/31/46	EUR	300		408,888
Sr. Unsec’d. Notes, 144A(k)		3.800			04/30/24	EUR	1,520		2,186,804
Sr. Unsec’d. Notes, 144A(k)		4.650			07/30/25	EUR	15,050		23,104,328
Sr. Unsec’d. Notes, 144A		5.150			10/31/28	EUR	8,120		13,486,580
Sr. Unsec’d. Notes, 144A(k)		5.850			01/31/22	EUR	3,705		5,454,223
Sr. Unsec’d. Notes, 144A		5.900			07/30/26	EUR	500		837,832
Unsec’d. Notes, 144A(k)		1.600			04/30/25	EUR	300		383,212
Spain Government International Bond, Sr. Unsec’d. Notes, EMTN		5.250			04/06/29	GBP	5,445		8,797,591
									86,479,722

See Notes to Financial Statements.

42

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Supranational Bank    2.0%
African Development Bank,
Sr. Unsec’d. Notes, EMTN		0.500	%		09/29/20	AUD	445	$	315,675
Sr. Unsec’d. Notes, EMTN		0.500			09/21/21	NZD	3,100		2,010,260
Sr. Unsec’d. Notes, EMTN		0.500			03/13/23	MXN	20,000		741,534
Corp. Andina de Fomento,
Sr. Unsec’d. Notes		2.200			07/18/20		400		392,948
Sr. Unsec’d. Notes		2.750			01/06/23		1,350		1,308,731
Sr. Unsec’d. Notes		4.375			06/15/22		3,300		3,427,842
Sr. Unsec’d. Notes, EMTN		1.875			05/29/21	EUR	400		507,736
Sr. Unsec’d. Notes, MTN		4.000			03/31/21	AUD	1,636		1,260,247
EUROFIMA,
Sr. Unsec’d. Notes, EMTN		5.150			12/13/19	CAD	540		439,478
Sr. Unsec’d. Notes, MTN		6.250			12/28/18	AUD	1,300		1,004,375
European Bank for Reconstruction & Development,
Sr. Unsec’d. Notes, EMTN		0.500			11/21/23	AUD	1,200		779,270
Sr. Unsec’d. Notes, EMTN		0.500			09/01/23	AUD	400		262,376
European Investment Bank,
Sr. Unsec’d. Notes, 144A, EMTN		4.600			01/30/37	CAD	1,500		1,378,465
Sr. Unsec’d. Notes, EMTN		0.500			06/21/23	AUD	2,500		1,649,715
Sr. Unsec’d. Notes, EMTN		0.500			07/21/23	AUD	800		526,897
Sr. Unsec’d. Notes, EMTN		0.500			08/10/23	AUD	1,210		794,632
Sr. Unsec’d. Notes, EMTN		0.500			10/26/23	AUD	6,930		4,516,711
Sr. Unsec’d. Notes, EMTN		1.250			05/12/25	SEK	16,500		1,927,074
Sr. Unsec’d. Notes, EMTN		3.250			05/24/23	NOK	10,000		1,328,173
Sr. Unsec’d. Notes, EMTN		4.600			01/30/37	CAD	150		138,584
Inter-American Development Bank,
Sr. Unsec’d. Notes, EMTN		0.500			05/23/23	CAD	744		518,438
Unsec’d. Notes, EMTN		0.500			10/30/20	ZAR	2,250		149,769
Unsec’d. Notes, EMTN		0.500			11/30/20	ZAR	1,840		120,935
International Bank for Reconstruction & Development,
Sr. Unsec’d. Notes, EMTN		0.500			07/29/22	AUD	350		236,624
Sr. Unsec’d. Notes, EMTN		7.775	(s)		09/19/22	MXN	12,500		484,974
Unsec’d. Notes, EMTN		0.500			03/07/22	AUD	1,145		783,269
Unsec’d. Notes, EMTN		0.500			03/28/22	AUD	200		136,572
International Finance Corp.,
Sr. Unsec’d. Notes		4.250			07/13/20	PEN	6,000		1,899,222
Sr. Unsec’d. Notes, EMTN		0.500			09/13/19	AUD	2,000		1,454,822
Sr. Unsec’d. Notes, GMTN		6.000			07/25/22	MXN	20,000		1,006,702
Nordic Investment Bank, Sr. Unsec’d. Notes, MTN		3.875			09/02/25	NZD	2,000		1,439,558
North American Development Bank, Sr. Unsec’d. Notes		2.400			10/26/22		750		723,254
									33,664,862

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 43

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Sweden    0.8%
Intrum Justitia AB, Sr. Unsec’d. Notes, 144A		3.125	%		07/15/24	EUR	560	$	663,501
Kommuninvest I Sverige AB,
Local Gov’t. Gtd. Notes, EMTN		0.625			11/13/23	SEK	15,000		1,702,540
Local Gov’t. Gtd. Notes, EMTN		1.500			05/12/25	SEK	7,000		820,662
Local Gov’t. Gtd. Notes, EMTN		1.625			01/22/20	CAD	4,000		3,081,877
Local Gov’t. Gtd. Notes, MTN		4.750			08/17/22	AUD	200		160,978
Sr. Unsec’d. Notes, EMTN		4.280			05/28/19	MXN	13,200		668,150
Sweden Government International Bond,
Sr. Unsec’d. Notes, 144A, MTN		0.125			04/24/23	EUR	720		869,850
Sr. Unsec’d. Notes, 144A, MTN		2.375			02/15/21		3,000		2,967,204
Swedish Export Credit Corp.,
Sr. Unsec’d. Notes, EMTN		3.760			05/28/19	AUD	787		599,458
Sr. Unsec’d. Notes, EMTN		4.200			12/16/20	AUD	700		540,590
Sr. Unsec’d. Notes, EMTN		4.910			04/23/19	NZD	985		701,994
									12,776,804
Switzerland    0.5%
Credit Suisse Group AG,
Sr. Unsec’d. Notes, 144A		3.869			01/12/29		450		427,454
Sr. Unsec’d. Notes, 144A		4.282			01/09/28		2,975		2,930,016
Credit Suisse Group Funding Guernsey Ltd., Gtd. Notes, EMTN		1.000			04/14/23	CHF	1,000		1,034,006
UBS Group Funding Switzerland AG,
Gtd. Notes, 144A		2.859			08/15/23		990		949,476
Gtd. Notes, 144A		3.491			05/23/23		1,100		1,078,063
Gtd. Notes, 144A		4.125			09/24/25		2,500		2,487,568
									8,906,583
Tunisia    0.0%
Banque Centrale de Tunisie International Bond, Sr. Unsec’d. Notes		4.200			03/17/31	JPY	100,000		725,284
Turkey    0.5%
Turkey Government Bond, Unsec’d. Notes		9.000			07/24/24	TRY	3,000		635,140
Turkey Government International Bond,
Sr. Unsec’d. Notes(a)		4.125			04/11/23	EUR	2,965		3,839,043
Sr. Unsec’d. Notes		5.750			03/22/24		1,000		1,013,770
Sr. Unsec’d. Notes		5.875			04/02/19	EUR	247		312,147
Sr. Unsec’d. Notes		7.000			06/05/20		1,800		1,900,807
Sr. Unsec’d. Notes, EMTN		3.250			06/14/25	EUR	750		901,849
									8,602,756

See Notes to Financial Statements.

44

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
Ukraine    0.1%
Ukraine Government International Bond, Sr. Unsec’d. Notes, 144A		7.375	%		09/25/32		1,875	$	1,730,062
United Arab Emirates    0.2%
Abu Dhabi Government International Bond,
Sr. Unsec’d. Notes		2.500			10/11/22		498		476,118
Sr. Unsec’d. Notes, 144A		2.500			10/11/22		2,365		2,261,082
Abu Dhabi National Energy Co. PJSC, Sr. Unsec’d. Notes, 144A		4.375			04/23/25		1,070		1,059,107
									3,796,307
United Kingdom    3.4%
Arrow Global Finance PLC, Sr. Sec’d. Notes, 144A		5.125			09/15/24	GBP	230		315,024
B&M European Value Retail SA, Sr. Sec’d. Notes, 144A, MTN		4.125			02/01/22	GBP	400		564,439
Bank of England Euro Note, Sr. Unsec’d. Notes, 144A, MTN		2.500			03/05/21		4,000		3,966,150
Barclays PLC,
Sr. Unsec’d. Notes		3.650			03/16/25		800		762,969
Sr. Unsec’d. Notes		4.375			01/12/26		3,550		3,505,220
Sub. Notes		5.200			05/12/26		6,440		6,436,381
CPUK Finance Ltd.,
Sec’d. Notes, 144A		4.250			02/28/47	GBP	185		255,982
Sec’d. Notes, 144A		4.875			02/28/47	GBP	110		152,331
HSBC Holdings PLC,
Sr. Unsec’d. Notes		5.100			04/05/21		85		89,269
Sub. Notes		4.250			08/18/25		1,255		1,241,335
Jaguar Land Rover Automotive PLC, Gtd. Notes		3.875			03/01/23	GBP	700		967,988
Lloyds Banking Group PLC,
Sr. Unsec’d. Notes		2.907			11/07/23		1,850		1,781,363
Sub. Notes		4.582			12/10/25		2,250		2,224,667
Pentair Finance Sarl, Gtd. Notes		2.450			09/17/19	EUR	250		311,627
Reynolds American, Inc., Gtd. Notes		8.125			06/23/19		30		31,687
Royal Bank of Scotland Group PLC,
Sr. Unsec’d. Notes		3.875			09/12/23		1,000		983,448
Sr. Unsec’d. Notes, EMTN		2.000			03/08/23	EUR	700		878,962
Sr. Unsec’d. Notes, EMTN		2.500			03/22/23	EUR	1,500		1,927,287
Santander UK Group Holdings PLC, Sr. Unsec’d. Notes		3.571			01/10/23		3,065		3,002,839
Tesco Corporate Treasury Services PLC, Gtd. Notes, EMTN		2.500			07/01/24	EUR	750		964,075

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 45

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
FOREIGN BONDS (Continued)
United Kingdom (cont’d.)
United Kingdom Gilt,
Unsec’d. Notes		2.000	%		09/07/25	GBP	100	$	145,112
Unsec’d. Notes(k)		3.250			01/22/44	GBP	320		566,891
Unsec’d. Notes		3.500			01/22/45	GBP	3,080		5,710,787
Unsec’d. Notes(k)		4.250			03/07/36	GBP	7,190		13,672,393
Unsec’d. Notes		4.250			09/07/39	GBP	2,830		5,580,987
Virgin Media Secured Finance PLC, Sr. Sec’d. Notes		5.500			01/15/25	GBP	495		697,413
									56,736,626
Uruguay    0.1%
Uruguay Government International Bond,
Sr. Unsec’d. Notes		4.375			10/27/27		1,000		1,007,500
Sr. Unsec’d. Notes		7.000			06/28/19	EUR	119		151,829
									1,159,329
TOTAL FOREIGN BONDS (cost $929,976,778)									950,452,816
MUNICIPAL BONDS    0.0%
Puerto Rico
Commonwealth of Puerto Rico, GO		3.061	(cc)		07/01/20		300		300,663
Puerto Rico Sales Tax Financing Corp., Revenue Bonds, CABs		4.800	(t)		08/01/41		1,265		419,955
TOTAL MUNICIPAL BONDS (cost $634,149)									720,618
RESIDENTIAL MORTGAGE-BACKED SECURITIES    3.5%
Alba PLC (United Kingdom), Series 2007-1, Class B, 3 Month GBP LIBOR + 0.240%		0.854	(c)		03/17/39	GBP	1,681		2,155,605
APS Resecuritization Trust, Series 2016-1, Class 1A, 144A, 1 Month LIBOR + 0.150%		2.037	(c)		07/27/57		2,310		2,231,011
Banc of America Funding Trust, Series 2014-R5, Class 1A1, 144A, 6 Month LIBOR + 1.500%		3.947	(c)		09/26/45		426		437,595
Bellemeade Re Ltd. (Bermuda),
Series 2017-1, Class M1, 144A, 1 Month LIBOR + 1.700%		3.597	(c)		10/25/27		603		605,693
Series 2018-1A, Class M1B, 144A, 1 Month LIBOR + 1.600%^		3.477	(c)		04/25/28		1,459		1,459,000
CIM Trust,
Series 2017-2, Class A1, 144A, 1 Month LIBOR + 2.000%		3.887	(c)		12/25/57		2,457		2,487,363

See Notes to Financial Statements.

46

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES (Continued)
CIM Trust, (cont’d.)
Series 2017-3, Class A1, 144A, 1 Month LIBOR + 2.000%		3.887	%(c)		01/25/57		2,381	$	2,430,063
Series 2017-8, Class A1, 144A		3.000	(cc)		12/25/65		2,936		2,930,177
Fannie Mae Connecticut Avenue Securities, Series 2016-C04, Class 1M1, 1 Month LIBOR + 1.450%		3.347	(c)		01/25/29		328		330,693
Freddie Mac Structured Agency Credit Risk Debt Notes,
Series 2015-DNA1, Class M3, 1 Month LIBOR + 3.300%		5.197	(c)		10/25/27		1,000		1,114,169
Series 2016-HQA2, Class M2, 1 Month LIBOR + 2.250%		4.147	(c)		11/25/28		637		652,374
IndyMac INDX Mortgage Loan Trust, Series 2004-AR15, Class 3A1		3.670	(cc)		02/25/35		1,644		1,637,845
LSTAR Securities Investment Ltd. (Cayman Islands), Series 2017-5, Class A, 144A, 1 Month LIBOR + 2.000%		3.664	(c)		05/01/22		2,192		2,190,679
LSTAR Securities Investment Ltd., Series 2017-6, Class A, 144A, 1 Month LIBOR + 1.750%		3.414	(c)		09/01/22		916		916,235
LSTAR Securities Investment Ltd. (Cayman Islands),
Series 2017-8, Class A, 144A, 1 Month LIBOR + 1.650%		3.314	(c)		11/01/22		984		988,141
Series 2017-9, Class A, 144A, 1 Month LIBOR + 1.550%		3.214	(c)		12/01/22		333		330,848
LSTAR Securities Investment Trust, Series 2018-2, Class A1, 144A, 1 Month LIBOR + 1.500%		3.398	(c)		04/01/23		8,790		8,788,989
Newgate Funding PLC (United Kingdom),
Series 2006-2, Class M, 3 Month GBP LIBOR + 0.220%		0.943	(c)		12/01/50	GBP	1,788		2,345,741
Series 2007-2X, Class A3, 3 Month GBP LIBOR + 0.160%		0.766	(c)		12/15/50	GBP	2,700		3,413,991
Paragon Mortgages PLC (United Kingdom),
Series 11X, Class BB, 3 Month EURIBOR + 0.480%		0.151	(c)		10/15/41	EUR	3,634		4,178,096
Series 12X, Class B1B, 3 Month EURIBOR + 0.480%		0.151	(c)		11/15/38	EUR	1,359		1,569,725
Series 13X, Class B1B, 3 Month EURIBOR + 0.380%		0.051	(c)		01/15/39	EUR	1,400		1,592,383
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 144A, 1 Month LIBOR + 2.850%		4.747	(c)		02/25/23		1,020		1,026,365
Radnor Re Ltd. (Bermuda), Series 2018-1, Class M1, 144A, 1 Month LIBOR + 1.400%		3.297	(c)		03/25/28		1,500		1,501,422
Ripon Mortgages PLC (United Kingdom), Series 2017-1A, Class B1, 144A, 3 Month GBP LIBOR + 1.200%		1.753	(c)		08/20/56	GBP	3,900		5,396,182

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 47

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES (Continued)
RMAC Securities No.1 PLC (United Kingdom), Series 2006-NS3X, Class M1C		—	%(p)		06/12/44	EUR	929	$	1,076,710
Towd Point Mortgage Funding Auburn PLC (United Kingdom), Series 2017-A11A, Class A2, 144A, 3 Month GBP LIBOR + 0.950%		1.503	(c)		05/20/45	GBP	2,000		2,752,908
Towd Point Mortgage Funding Vantage PLC (United Kingdom), Series 2016-V1A, Class A1, 144A, 3 Month GBP LIBOR + 1.200%		1.753	(c)		02/20/54	GBP	970		1,344,274
TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES (cost $54,691,405)									57,884,277
U.S. GOVERNMENT AGENCY OBLIGATIONS    0.3%
Federal National Mortgage Assoc.		5.375			12/07/28	GBP	275		492,340
Tennessee Valley Authority,
Sr. Unsec’d. Notes		5.350			06/07/21	GBP	815		1,252,739
Sr. Unsec’d. Notes		5.625			06/07/32	GBP	1,391		2,635,828
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS (cost $4,509,850)									4,380,907
U.S. TREASURY OBLIGATIONS    0.3%
U.S. Treasury Bonds(k)(h)		2.500			05/15/46		2,580		2,291,463
U.S. Treasury Bonds(h)		2.875			08/15/45		170		163,140
U.S. Treasury Notes(k)		1.750			01/31/23		320		305,363
U.S. Treasury Strips Coupon		1.881	(s)		05/15/31		400		268,689
U.S. Treasury Strips Coupon		1.898	(s)		08/15/29		400		283,751
U.S. Treasury Strips Coupon		2.100	(s)		11/15/35		800		465,804
U.S. Treasury Strips Coupon(k)		2.264	(s)		08/15/40		800		401,885
TOTAL U.S. TREASURY OBLIGATIONS (cost $4,752,451)									4,180,095
						Shares
COMMON STOCK    0.0%
Oil, Gas & Consumable Fuels
Frontera Energy Corp. (Colombia)* (cost $44,527)							1,116		34,390
PREFERRED STOCK    0.0%
Banks
Citigroup Capital XIII, 8.729% (Capital Security, fixed to floating preferred) (cost $100,000)							4,000		107,160
TOTAL LONG-TERM INVESTMENTS (cost $1,581,577,030)									1,601,891,097

See Notes to Financial Statements.

48

Description	Shares		Value
SHORT-TERM INVESTMENTS    11.3%
AFFILIATED MUTUAL FUNDS    9.5%
Prudential Investment Portfolios 2 - PGIM Core Ultra Short Bond Fund(w)		112,995,923	$	112,995,923
Prudential Investment Portfolios 2 - PGIM Institutional Money Market Fund (cost $44,343,577; includes $44,284,447 of cash collateral for securities on loan)(b)(w)		44,345,258		44,345,258
TOTAL AFFILIATED MUTUAL FUNDS (cost $157,339,500)				157,341,181
OPTIONS PURCHASED~*    1.8% (cost $38,133,689)				29,634,957
TOTAL SHORT-TERM INVESTMENTS (cost $195,473,189)				186,976,138
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN    108.0% (cost $1,777,050,219)				1,788,867,235
OPTIONS WRITTEN~*    (1.7)% (premiums received $39,158,520)				(28,851,764	)
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN    106.3% (cost $1,737,891,699)				1,760,015,471
Liabilities in excess of other assets(z)    (6.3)%				(104,652,502	)
NET ASSETS    100.0%			$	1,655,362,969

The following abbreviations are used in the semiannual report:

A—Annual payment frequency for swaps

M—Monthly payment frequency for swaps

Q—Quarterly payment frequency for swaps

S—Semiannual payment frequency for swaps

T—Swap payment upon termination

144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid.

ABS—Asset-Backed Security

BBR—New Zealand Bank Bill Rate

BBSW—Australian Bank Bill Swap Reference Rate

BIBOR—Bangkok Interbank Offered Rate

bps—Basis Points

BROIS—Brazil Overnight Interbank Deposit

BUBOR—Budapest Interbank Offered Rate

CABs—Capital Appreciation Bonds

CDX—Credit Derivative Index

CIBOR—Copenhagen Interbank Offered Rate

CLO—Collateralized Loan Obligation

CLOIS—Sinacofi Chile Interbank Rate Average

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 49

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

CMBX—Commercial Mortgage Backed Securities Index

COOIS—Colombia Overnight Interbank Reference Rate

CPI—Consumer Price Index

EMTN—Euro Medium Term Note

EONIA—Euro Overnight Index Average

EURIBOR—Euro Interbank Offered Rate

FHLMC—Federal Home Loan Mortgage Corp.

GMTN—Global Medium Term Note

GO—General Obligation

HIBOR—Hong Kong Interbank Offered Rate

HICP—Harmonized Index of Consumer Prices

ICE—Intercontinental Exchange

IO—Interest Only (Principal amount represents notional)

iTraxx—International Credit Derivative Index

JIBAR—Johannesburg Interbank Agreed Rate

KLIBOR—Kuala Lumpur Interbank Offered Rate

L2—Level 2

L3—Level 3

LIBOR—London Interbank Offered Rate

MTN—Medium Term Note

MUNIPSA—SIFMA Municipal Swap Weekly Yield Index

NIBOR—Norwegian Interbank Offered Rate

NSA—Non-Seasonally Adjusted

OAT—Obligations Assimiilables du Tresor (French Treasury Bond)

OTC—Over-the-counter

PIK—Payment-in-Kind

PRIBOR—Prague Interbank Offered Rate

SIBOR—Singapore Interbank Offered Rate

SONIA—Sterling Overnight Index Average

STIBOR—Stockholm Interbank Offered Rate

STRIPS—Separate Trading of Registered Interest and Principal of Securities

TAIBOR—Taiwan Interbank Offered Rate

TELBOR—Tel Aviv Interbank Offered Rate

USOIS—United States Overnight Index Swap

WIBOR—Warsaw Interbank Offered Rate

AED—Arab Emirates Dirham

ARS—Argentine Peso

AUD—Australian Dollar

BRL—Brazilian Real

CAD—Canadian Dollar

CHF—Swiss Franc

CLP—Chilean Peso

CNH—Chinese Renminbi (offshore)

COP—Colombian Peso

CZK—Czech Koruna

DKK—Danish Krone

See Notes to Financial Statements.

50

EGP—Egyptian Pound

EUR—Euro

GBP—British Pound

HKD—Hong Kong Dollar

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

NOK—Norwegian Krone

NZD—New Zealand Dollar

PEN—Peruvian Nuevo Sol

PHP—Philippine Peso

PLN—Polish Zloty

RUB—Russian Ruble

SAR—Saudi Arabian Riyal

SEK—Swedish Krona

SGD—Singapore Dollar

THB—Thai Baht

TRY—Turkish Lira

TWD—New Taiwanese Dollar

ZAR—South African Rand

~ See tables subsequent to the Schedule of Investments for options detail.

* Non-income producing security.

# Principal or notional amount is shown in U.S. dollars unless otherwise stated.

^ Indicates a Level 3 security. The aggregate value of Level 3 securities is $42,423,907 and 2.6% 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 $42,801,560; cash collateral of $44,284,447 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments.

(b) Represents security 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 April 30, 2018.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of April 30, 2018. 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.

(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.

(p) Interest rate not available as of April 30, 2018.

(s) Represents a zero coupon or step bond. Rate quoted represents yield to maturity at purchase date.

(t) Represents a zero coupon or step bond. Rate quoted represents effective yield at April 30, 2018.

(w) PGIM Investments LLC, the manager of the Fund, also serves as manager of the Prudential Investment Portfolios 2 - PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 51

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

(z) Includes net unrealized appreciation (depreciation) on the following derivative contracts held at reporting period end, with the exception of options which are included in total investments, net of options written, at market value:

Options Purchased:

OTC Traded

Description	Call/Put	Counterparty	Expiration Date	Strike Price		Contracts		Notional Amount (000)#		Value
Currency Option AUD vs JPY	Call	Deutsche Bank AG	11/25/20		92.00		—	AUD	30,400	$	242,956
Currency Option EUR vs BRL	Call	Citigroup Global Markets	02/21/19		4.15		—	EUR	4,600		468,833
Currency Option EUR vs TRY	Call	BNP Paribas	06/27/18		6.00		—	EUR	6,500		2,783
Currency Option EUR vs TRY	Call	Goldman Sachs & Co.	11/28/18		8.00		—	EUR	15,000		16,162
Currency Option EUR vs TRY	Call	Citigroup Global Markets	04/26/19		6.00		—	EUR	12,000		481,016
Currency Option EUR vs ZAR	Call	Citigroup Global Markets	05/25/18		27.00		—	EUR	14,000		—
Currency Option EUR vs ZAR	Call	Deutsche Bank AG	05/25/18		24.00		—	EUR	14,750		—
Currency Option EUR vs ZAR	Call	Citigroup Global Markets	09/26/18		22.00		—	EUR	8,000		3,470
Currency Option EUR vs ZAR	Call	Morgan Stanley	10/01/18		22.00		—	EUR	25,000		11,759
Currency Option EUR vs ZAR	Call	Deutsche Bank AG	11/25/19		27.00		—	EUR	14,000		89,450
Currency Option EUR vs ZAR	Call	Morgan Stanley	12/24/19		24.00		—	EUR	14,750		189,689
Currency Option USD vs BRL	Call	Hong Kong & Shanghai Bank	06/27/18		5.00		—		9,000		114
Currency Option USD vs BRL	Call	JPMorgan Chase	07/12/18		4.65		—		47,500		5,012
Currency Option USD vs BRL	Call	JPMorgan Chase	07/12/18		5.00		—		18,000		673
Currency Option USD vs BRL	Call	JPMorgan Chase	09/26/18		4.75		—		16,500		14,177
Currency Option USD vs BRL	Call	JPMorgan Chase	04/26/19		5.00		—		12,500		47,869
Currency Option USD vs CAD	Call	Citigroup Global Markets	01/30/19		1.50		—		20,000		20,027
Currency Option USD vs CAD	Call	Hong Kong & Shanghai Bank	07/30/19		1.30		—		20,000		483,055
Currency Option USD vs CNH	Call	JPMorgan Chase	11/28/18		8.75		—		25,000		883
Currency Option USD vs CNH	Call	Morgan Stanley	11/28/18		7.75		—		12,500		2,304
Currency Option USD vs CNH	Call	Morgan Stanley	02/26/20		6.50		—		33,000		918,814
Currency Option USD vs JPY	Call	Deutsche Bank AG	07/27/18		110.00		—		18,000		150,438
Currency Option USD vs JPY	Call	Citigroup Global Markets	01/27/21		110.00		—		18,000		329,717
Currency Option USD vs KRW	Call	Goldman Sachs & Co.	07/27/18		1,500.00		—		18,000		261
Currency Option USD vs KRW	Call	Morgan Stanley	07/27/18		1,500.00		—		7,000		102
Currency Option USD vs KRW	Call	Goldman Sachs & Co.	04/26/19		1,400.00		—		22,000		50,716
Currency Option USD vs KRW	Call	JPMorgan Chase	04/26/19		1,250.00		—		11,000		65,512
Currency Option USD vs KRW	Call	Goldman Sachs & Co.	05/29/19		1,500.00		—		12,000		22,340
Currency Option USD vs KRW	Call	Goldman Sachs & Co.	07/29/19		1,450.00		—		30,000		90,837
Currency Option USD vs KRW	Call	Morgan Stanley	07/29/19		1,150.00		—		15,000		259,400
Currency Option USD vs KRW	Call	Goldman Sachs & Co.	12/20/19		1,200.00		—		18,000		295,890
Currency Option USD vs MXN	Call	Morgan Stanley	08/24/18		30.00		—		16,000		789
Currency Option USD vs MXN	Call	UBS AG	01/25/19		18.75		—		6,800		436,072
Currency Option USD vs MXN	Call	Deutsche Bank AG	01/29/19		30.00		—		10,000		10,666
Currency Option USD vs MXN	Call	Morgan Stanley	03/27/19		24.00		—		24,000		217,284
Currency Option USD vs MXN	Call	Morgan Stanley	12/26/19		22.00		—		16,000		675,830
Currency Option USD vs RUB	Call	Citigroup Global Markets	07/11/18		95.00		—		33,000		3,314
Currency Option USD vs RUB	Call	Goldman Sachs & Co.	09/27/18		85.00		—		18,000		34,550
Currency Option USD vs RUB	Call	Citigroup Global Markets	12/23/19		85.00		—		18,000		391,267

See Notes to Financial Statements.

52

Options Purchased (cont’d):

OTC Traded (cont’d)

Description	Call/Put	Counterparty	Expiration Date	Strike Price		Contracts		Notional Amount (000)#		Value
Currency Option USD vs TRY	Call	BNP Paribas	09/27/18		6.00		—		18,000	$	11,054
Currency Option USD vs TRY	Call	Credit Suisse First Boston Corp.	11/29/18		5.00		—		8,000		72,511
Currency Option USD vs TRY	Call	BNP Paribas	11/29/18		6.00		—		8,000		14,447
Currency Option USD vs TRY	Call	Citigroup Global Markets	08/28/19		5.40		—		15,000		393,001
Currency Option USD vs ZAR	Call	Morgan Stanley	09/26/18		20.00		—		18,000		3,487
Currency Option USD vs ZAR	Call	Hong Kong & Shanghai Bank	11/28/18		24.00		—		9,000		1,680
Currency Option USD vs ZAR	Call	Morgan Stanley	06/26/19		20.00		—		15,000		60,902
Currency Option USD vs ZAR	Call	Morgan Stanley	12/24/19		14.00		—		18,000		1,003,224
Currency Option AUD vs JPY	Put	Morgan Stanley	08/07/18		62.00		—	AUD	110,000		8,418
Currency Option AUD vs JPY	Put	Morgan Stanley	06/26/19		70.00		—	AUD	154,000		1,564,497
Currency Option AUD vs JPY	Put	BNP Paribas	06/26/19		80.00		—	AUD	77,000		2,575,239
Currency Option AUD vs JPY	Put	Deutsche Bank AG	01/29/20		73.00		—	AUD	220,000		5,307,920
Currency Option AUD vs JPY	Put	Morgan Stanley	01/29/20		82.00		—	AUD	110,000		6,374,002
Currency Option AUD vs JPY	Put	Deutsche Bank AG	02/26/20		76.00		—	AUD	110,000		3,721,011
Currency Option AUD vs USD	Put	Citigroup Global Markets	01/29/20		0.69		—	AUD	23,000		310,121
Currency Option EUR vs TRY	Put	JPMorgan Chase	02/26/19		4.60		—	EUR	15,000		39,972
Currency Option EUR vs USD	Put	Bank of America	02/26/20		1.20		—	EUR	15,000		286,166
Currency Option EUR vs ZAR	Put	Morgan Stanley	03/25/20		14.00		—	EUR	25,000		209,539
Currency Option GBP vs USD	Put	Hong Kong & Shanghai Bank	11/25/19		1.15		—	GBP	12,500		71,800
Currency Option GBP vs USD	Put	Citigroup Global Markets	11/25/19		1.30		—	GBP	12,500		272,863
Currency Option USD vs BRL	Put	JPMorgan Chase	03/27/20		3.10		—		33,000		400,031
Currency Option USD vs KRW	Put	Deutsche Bank AG	07/29/19		1,050.00		—		15,000		604,995
Total OTC Traded (cost $38,008,299)										$	29,340,911

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 53

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Options Purchased (cont’d):

OTC Swaptions

Description

Call/Put

Counterparty

Expiration Date

Strike

Receive

Pay

Notional Amount (000)#

Value

iTraxx.XO.29.V1, 6/20/23

Call

JPMorgan Chase

09/19/18

EUR

250.00

5.00

%(Q)

iTraxx.XO.29.V1(Q)

EUR 22,400

$

74,708

CDX.NA.HY.30.V1, 6/20/23

Call

Citigroup Global Markets

09/19/18

$

107.50

5.00

%(Q)

CDX.NA.HY.30.V1(Q)

24,500

63,700

10- Year Interest Rate Swap, 11/19/37

Put

Morgan Stanley

11/17/27

1.25%

6 Month JPY LIBOR

(S)

1.25%(S)

JPY 545,000

155,638

Total OTC Swaptions (cost $125,390)

$

294,046

Total Options Purchased (cost $38,133,689)

$

29,634,957

OTC Options Written

Description	Call/Put	Counterparty	Expiration Date	Strike		Contracts		Notional Amount (000)#		Value
Currency Option EUR vs BRL	Call	Citigroup Global Markets	02/21/19		4.55		—	EUR	4,600	$	(213,731	)
Currency Option EUR vs TRY	Call	Credit Suisse First Boston Corp.	06/27/18		6.00		—	EUR	6,500		(2,783	)
Currency Option EUR vs TRY	Call	BNP Paribas	04/26/19		6.00		—	EUR	12,000		(481,016	)
Currency Option EUR vs TRY	Call	Goldman Sachs & Co.	01/29/20		8.00		—	EUR	15,000		(388,393	)
Currency Option EUR vs ZAR	Call	BNP Paribas	09/26/18		22.00		—	EUR	8,000		(3,471	)
Currency Option EUR vs ZAR	Call	Citigroup Global Markets	11/25/19		27.00		—	EUR	14,000		(89,450	)
Currency Option EUR vs ZAR	Call	Deutsche Bank AG	12/24/19		24.00		—	EUR	14,750		(189,690	)
Currency Option EUR vs ZAR	Call	Morgan Stanley	03/25/20		22.00		—	EUR	25,000		(663,763	)
Currency Option USD vs BRL	Call	Credit Suisse First Boston Corp.	06/27/18		5.00		—		9,000		(114	)
Currency Option USD vs BRL	Call	Morgan Stanley	09/26/18		4.75		—		16,500		(14,177	)
Currency Option USD vs BRL	Call	Hong Kong & Shanghai Bank	04/26/19		5.00		—		12,500		(47,869	)
Currency Option USD vs BRL	Call	JPMorgan Chase	12/20/19		5.00		—		18,000		(198,163	)
Currency Option USD vs BRL	Call	JPMorgan Chase	12/20/19		5.00		—		14,500		(159,631	)
Currency Option USD vs BRL	Call	JPMorgan Chase	03/27/20		4.65		—		33,000		(692,882	)
Currency Option USD vs CAD	Call	Hong Kong & Shanghai Bank	07/30/19		1.40		—		40,000		(321,321	)
Currency Option USD vs CNH	Call	Hong Kong & Shanghai Bank	11/28/18		7.75		—		12,500		(2,304	)
Currency Option USD vs CNH	Call	Morgan Stanley	11/28/18		8.75		—		25,000		(883	)
Currency Option USD vs CNH	Call	Morgan Stanley	02/26/20		7.00		—		33,000		(338,659	)
Currency Option USD vs JPY	Call	Citigroup Global Markets	07/27/18		110.00		—		18,000		(150,438	)
Currency Option USD vs KRW	Call	Citigroup Global Markets	07/27/18		1,500.00		—		7,000		(102	)
Currency Option USD vs KRW	Call	Goldman Sachs & Co.	04/26/19		1,250.00		—		11,000		(65,512	)
Currency Option USD vs KRW	Call	JPMorgan Chase	04/26/19		1,400.00		—		22,000		(50,717	)

See Notes to Financial Statements.

54

OTC Options Written (cont’d)

Description	Call/Put		Counterparty	Expiration Date	Strike		Contracts		Notional Amount (000)#		Value
Currency Option USD vs KRW		Call	Morgan Stanley	05/29/19		1,500.00		—		12,000	$	(22,340	)
Currency Option USD vs KRW		Call	Morgan Stanley	07/29/19		1,450.00		—		30,000		(90,837	)
Currency Option USD vs KRW		Call	Goldman Sachs & Co.	07/29/19		1,150.00		—		15,000		(259,400	)
Currency Option USD vs KRW		Call	Goldman Sachs & Co.	12/20/19		1,350.00		—		36,000		(276,574	)
Currency Option USD vs MXN		Call	UBS AG	01/25/19		20.75		—		6,800		(167,779	)
Currency Option USD vs MXN		Call	Morgan Stanley	01/29/19		30.00		—		10,000		(10,666	)
Currency Option USD vs MXN		Call	JPMorgan Chase	03/27/19		24.00		—		24,000		(217,284	)
Currency Option USD vs MXN		Call	Morgan Stanley	12/26/19		26.00		—		32,000		(509,491	)
Currency Option USD vs RUB		Call	Citigroup Global Markets	09/27/18		85.00		—		18,000		(34,550	)
Currency Option USD vs RUB		Call	Goldman Sachs & Co.	12/23/19		85.00		—		18,000		(391,267	)
Currency Option USD vs RUB		Call	Citigroup Global Markets	03/30/20		95.00		—		33,000		(561,094	)
Currency Option USD vs TRY		Call	BNP Paribas	11/29/18		5.00		—		8,000		(72,511	)
Currency Option USD vs TRY		Call	Credit Suisse First Boston Corp.	11/29/18		6.00		—		8,000		(14,447	)
Currency Option USD vs TRY		Call	BNP Paribas	08/28/19		5.40		—		15,000		(393,001	)
Currency Option USD vs TRY		Call	BNP Paribas	12/23/19		6.00		—		18,000		(420,425	)
Currency Option USD vs ZAR		Call	Credit Suisse First Boston Corp.	11/28/18		24.00		—		9,000		(1,680	)
Currency Option USD vs ZAR		Call	BNP Paribas	06/26/19		20.00		—		2,000		(8,120	)
Currency Option USD vs ZAR		Call	Hong Kong & Shanghai Bank	06/26/19		20.00		—		13,000		(52,782	)
Currency Option USD vs ZAR		Call	Morgan Stanley	12/24/19		17.00		—		36,000		(716,394	)
Currency Option AUD vs JPY		Put	BNP Paribas	06/26/19		70.00		—	AUD	154,000		(1,564,498	)
Currency Option AUD vs JPY		Put	Morgan Stanley	06/26/19		80.00		—	AUD	77,000		(2,575,239	)
Currency Option AUD vs JPY		Put	Morgan Stanley	01/29/20		73.00		—	AUD	220,000		(5,307,920	)
Currency Option AUD vs JPY		Put	Deutsche Bank AG	01/29/20		82.00		—	AUD	110,000		(6,374,002	)
Currency Option AUD vs JPY		Put	Deutsche Bank AG	02/26/20		67.00		—	AUD	220,000		(3,181,036	)
Currency Option EUR vs BRL		Put	Citigroup Global Markets	02/21/19		3.90		—	EUR	4,600		(39,298	)
Currency Option GBP vs USD		Put	Citigroup Global Markets	11/25/19		1.15		—	GBP	12,500		(71,800	)
Currency Option GBP vs USD		Put	Hong Kong & Shanghai Bank	11/25/19		1.30		—	GBP	12,500		(272,863	)
Currency Option USD vs KRW		Put	Morgan Stanley	07/29/19		1,050.00		—		15,000		(604,995	)
Currency Option USD vs MXN		Put	UBS AG	01/25/19		17.75		—		6,800		(71,676	)
Lebanese Republic, 8.25%, 04/12/21^		Put	Deutsche Bank AG	04/08/19	$	66.00		—		4,080		(81,479	)
Total OTC Traded (premiums received $38,888,178)											$	(28,440,517	)

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 55

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Options Written (cont’d):

OTC Swaptions:

Description

Call/Put

Counterparty

Expiration Date

Strike

Receive

Pay

Notional Amount (000)#

Value

10- Year Interest Rate Swap, 11/19/37

Put

Morgan Stanley

11/17/27

1.25%

1.25%(S)

6 Month JPY LIBOR(S)

JPY

545,000

$

(155,638)

CDX.NA.HY.30.V1, 6/20/23

Put

Citigroup Global Markets

09/19/18

$

100.50

5.00%(Q)

CDX.NA.HY.30.V1(Q)

24,500

(134,750)

iTraxx.XO.29.V1, 6/20/23

Put

JPMorgan Chase

09/19/18

EUR

400.00

5.00%(Q)

iTraxx.XO.29.V1(Q)

EUR

22,400

(120,859)

Total OTC Swaptions (premiums received $270,342)

$

(411,247)

Total Options Written (premiums received $39,158,520)

$

(28,851,764)

Futures contracts outstanding at April 30, 2018:

Number of Contracts		Type	Expiration Date		Current Notional Amount		Value / Unrealized Appreciation (Depreciation)
		Long Positions:
	323	90 Day Euro Dollar		Dec. 2020	$	78,299,238	$	(65,467	)
	615	90 Day Sterling		Sep. 2018		104,934,899		127,724
	4,746	5 Year U.S. Treasury Notes		Jun. 2018		538,708,078		(1,573,981	)
	129	10 Year U.K. Gilt		Jun. 2018		21,712,819		224,257
	2,033	10 Year U.S. Treasury Notes		Jun. 2018		243,197,625		(1,044,488	)
	52	10 Year U.S. Ultra Treasury Notes		Jun. 2018		6,650,313		38,519
	21	20 Year U.S. Treasury Bonds		Jun. 2018		3,020,719		(18,375	)
	992	30 Year U.S. Ultra Treasury Bonds		Jun. 2018		155,868,000		1,995,849
								(315,962	)
		Short Positions:
	1	30 Day Federal Funds		Jul. 2018		408,637		144
	323	90 Day Euro Dollar		Dec. 2021		78,283,088		61,846
	615	90 Day Sterling		Sep. 2019		104,606,812		(225,971	)
	902	2 Year U.S. Treasury Notes		Jun. 2018		191,266,281		390,392
	179	5 Year Euro-Bobl		Jun. 2018		28,316,970		(95,606	)
	393	10 Year Euro-Bund		Jun. 2018		75,335,797		(554,067	)
	4	10 Year Japanese Bonds		Jun. 2018		5,511,892		4,638
	399	Euro Schatz. DUA Index		Jun. 2018		53,924,193		(73,628	)
								(492,252	)
							$	(808,214	)

See Notes to Financial Statements.

56

Securities with a combined market value of $9,732,898 have been segregated with J.P. Morgan Securities LLC to cover requirements for open futures contracts at April 30, 2018.

Forward foreign currency exchange contracts outstanding at April 30, 2018:

Purchase Contracts	Counterparty	Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts:
Argentine Peso,
Expiring 05/03/18	Citigroup Global Markets	ARS	105,399	$	5,184,394	$	5,121,864	$	—	$	(62,530	)
Australian Dollar,
Expiring 07/12/18	Citigroup Global Markets	AUD	5,005		3,890,946		3,769,273		—		(121,673	)
Expiring 07/12/18	Citigroup Global Markets	AUD	1,465		1,109,000		1,103,191		—		(5,809	)
Expiring 07/12/18	JPMorgan Chase	AUD	814		633,000		613,273		—		(19,727	)
Expiring 07/12/18	Morgan Stanley	AUD	1,446		1,124,285		1,088,749		—		(35,536	)
Expiring 07/31/18	JPMorgan Chase	AUD	445		337,000		335,239		—		(1,761	)
Expiring 07/31/18	UBS AG	AUD	553		418,000		416,150		—		(1,850	)
Expiring 06/28/19	Goldman Sachs & Co.	AUD	3,228		2,466,159		2,441,804		—		(24,355	)
Expiring 06/28/19	Morgan Stanley	AUD	1,390		1,075,980		1,051,493		—		(24,487	)
Expiring 01/31/20	Citigroup Global Markets	AUD	3,238		2,594,998		2,460,751		—		(134,247	)
Brazilian Real,
Expiring 05/03/18	Barclays Capital Group	BRL	3,625		1,091,460		1,034,537		—		(56,923	)
Expiring 05/03/18	Citigroup Global Markets	BRL	4,862		1,420,500		1,387,359		—		(33,141	)
Expiring 05/03/18	Citigroup Global Markets	BRL	3,088		952,479		881,250		—		(71,229	)
Expiring 05/03/18	Citigroup Global Markets	BRL	2,149		639,918		613,392		—		(26,526	)
Expiring 05/03/18	Goldman Sachs & Co.	BRL	4,366		1,317,660		1,245,932		—		(71,728	)
Expiring 05/03/18	Morgan Stanley	BRL	45,928		14,104,515		13,106,295		—		(998,220	)
Expiring 05/03/18	UBS AG	BRL	5,260		1,577,265		1,501,082		—		(76,183	)
Expiring 06/29/18	Goldman Sachs & Co.	BRL	3,200		998,056		907,996		—		(90,060	)
Expiring 06/29/18	Hong Kong & Shanghai Bank	BRL	1,600		464,000		453,914		—		(10,086	)
Expiring 07/03/18	Goldman Sachs & Co.	BRL	36,473		10,402,869		10,345,908		—		(56,961	)
Expiring 07/31/18	Goldman Sachs & Co.	BRL	7,301		2,124,749		2,065,832		—		(58,917	)
Expiring 07/31/18	UBS AG	BRL	10,312		3,089,818		2,917,681		—		(172,137	)
Expiring 07/31/18	UBS AG	BRL	2,034		579,000		575,575		—		(3,425	)
Expiring 09/28/18	JPMorgan Chase	BRL	2,213		668,000		623,605		—		(44,395	)
Expiring 02/25/19	Citigroup Global Markets	BRL	19,713		5,835,701		5,496,202		—		(339,499	)
Expiring 04/30/19	JPMorgan Chase	BRL	2,358		693,000		654,527		—		(38,473	)
Expiring 04/30/19	JPMorgan Chase	BRL	1,888		543,150		524,001		—		(19,149	)
Expiring 09/30/19	Barclays Capital Group	BRL	3,000		877,706		821,116		—		(56,590	)
Expiring 09/30/19	Barclays Capital Group	BRL	682		198,290		186,710		—		(11,580	)
Expiring 09/30/19	JPMorgan Chase	BRL	5,925		1,689,000		1,621,707		—		(67,293	)
Expiring 12/24/19	Barclays Capital Group	BRL	2,271		656,862		616,857		—		(40,005	)
Expiring 12/24/19	Barclays Capital Group	BRL	455		130,617		123,503		—		(7,114	)

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 57

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Forward foreign currency exchange contracts outstanding at April 30, 2018 (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.):
British Pound,
Expiring 07/26/18	Bank of America	GBP	2,830	$	4,045,510	$	3,912,726	$	—	$	(132,784	)
Expiring 07/26/18	Citigroup Global Markets	GBP	301		424,098		416,373		—		(7,725	)
Expiring 07/26/18	Citigroup Global Markets	GBP	295		414,014		408,185		—		(5,829	)
Expiring 07/26/18	Citigroup Global Markets	GBP	202		279,391		279,309		—		(82	)
Expiring 07/26/18	JPMorgan Chase	GBP	656		918,886		906,891		—		(11,995	)
Expiring 07/26/18	JPMorgan Chase	GBP	329		460,164		454,632		—		(5,532	)
Expiring 07/26/18	JPMorgan Chase	GBP	323		447,360		447,139		—		(221	)
Expiring 07/26/18	Morgan Stanley	GBP	1,252		1,751,237		1,730,881		—		(20,356	)
Expiring 11/27/19	Citigroup Global Markets	GBP	2,666		3,624,960		3,780,736		155,776		—
Canadian Dollar,
Expiring 07/12/18	Barclays Capital Group	CAD	3,592		2,817,000		2,802,710		—		(14,290	)
Expiring 07/12/18	JPMorgan Chase	CAD	3,149		2,453,500		2,457,204		3,704		—
Expiring 07/12/18	Morgan Stanley	CAD	42,068		33,013,271		32,821,948		—		(191,323	)
Expiring 07/12/18	Morgan Stanley	CAD	3,380		2,686,353		2,637,004		—		(49,349	)
Expiring 07/12/18	Morgan Stanley	CAD	1,054		820,446		822,495		2,049		—
Expiring 07/12/18	Morgan Stanley	CAD	309		245,653		241,212		—		(4,441	)
Expiring 07/31/18	JPMorgan Chase	CAD	879		686,403		686,332		—		(71	)
Expiring 07/31/18	Morgan Stanley	CAD	272		212,000		212,532		532		—
Expiring 01/31/19	Citigroup Global Markets	CAD	4,291		3,334,000		3,361,207		27,207		—
Chilean Peso,
Expiring 07/13/18	Citigroup Global Markets	CLP	1,399,935		2,309,475		2,281,959		—		(27,516	)
Expiring 07/13/18	Citigroup Global Markets	CLP	1,386,726		2,303,416		2,260,428		—		(42,988	)
Chinese Renminbi,
Expiring 07/31/18	UBS AG	CNH	5,480		863,000		863,871		871		—
Expiring 11/30/18	BNP Paribas	CNH	662		97,295		103,922		6,627		—
Expiring 11/30/18	Citigroup Global Markets	CNH	11,274		1,630,057		1,768,692		138,635		—
Expiring 11/30/18	JPMorgan Chase	CNH	2,601		375,000		407,988		32,988		—
Expiring 11/30/18	Morgan Stanley	CNH	703		94,000		110,210		16,210		—
Expiring 02/28/20	Morgan Stanley	CNH	52,452		8,077,000		8,098,585		21,585		—
Colombian Peso,
Expiring 06/15/18	Barclays Capital Group	COP	12,299,798		4,272,692		4,376,084		103,392		—
Expiring 06/15/18	Citigroup Global Markets	COP	12,299,798		4,281,169		4,376,084		94,915		—
Expiring 06/15/18	Citigroup Global Markets	COP	6,393,362		2,303,416		2,274,662		—		(28,754	)
Expiring 06/15/18	Citigroup Global Markets	COP	5,026,545		1,757,571		1,788,369		30,798		—
Expiring 06/15/18	Citigroup Global Markets	COP	2,971,330		1,097,647		1,057,155		—		(40,492	)
Expiring 06/15/18	JPMorgan Chase	COP	3,194,592		1,115,847		1,136,588		20,741		—
Czech Koruna,
Expiring 07/12/18	Bank of America	CZK	32,924		1,616,649		1,560,005		—		(56,644	)
Expiring 07/12/18	Citigroup Global Markets	CZK	190,793		9,284,105		9,040,185		—		(243,920	)
Expiring 07/12/18	Morgan Stanley	CZK	10,022		490,837		474,865		—		(15,972	)
Expiring 10/24/18	Citigroup Global Markets	CZK	29,559		1,455,300		1,408,890		—		(46,410	)

See Notes to Financial Statements.

58

Forward foreign currency exchange contracts outstanding at April 30, 2018 (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.):
Danish Krone,
Expiring 07/24/18	Citigroup Global Markets	DKK	16,032	$	2,684,770	$	2,616,302	$	—	$	(68,468	)
Egyptian Pound,
Expiring 09/27/18	Citigroup Global Markets	EGP	39,123		2,130,857		2,154,410		23,553		—
Expiring 10/11/18	Citigroup Global Markets	EGP	54,332		2,916,350		2,983,956		67,606		—
Euro,
Expiring 07/26/18	Citigroup Global Markets	EUR	1,591		1,956,829		1,934,455		—		(22,374	)
Expiring 07/26/18	Citigroup Global Markets	EUR	1,320		1,633,000		1,605,634		—		(27,366	)
Expiring 07/26/18	Citigroup Global Markets	EUR	1,270		1,570,897		1,544,572		—		(26,325	)
Expiring 07/26/18	Citigroup Global Markets	EUR	1,070		1,300,881		1,300,751		—		(130	)
Expiring 07/26/18	JPMorgan Chase	EUR	2,982		3,670,039		3,625,745		—		(44,294	)
Expiring 07/26/18	JPMorgan Chase	EUR	1,682		2,062,010		2,045,598		—		(16,412	)
Expiring 07/26/18	JPMorgan Chase	EUR	1,565		1,903,956		1,903,368		—		(588	)
Expiring 07/26/18	Morgan Stanley	EUR	5,728		6,984,972		6,964,520		—		(20,452	)
Expiring 07/31/18	Deutsche Bank AG	EUR	121		149,080		147,191		—		(1,889	)
Expiring 07/31/18	JPMorgan Chase	EUR	401		489,000		488,145		—		(855	)
Expiring 02/28/20	Bank of America	EUR	3,265		4,271,599		4,185,313		—		(86,286	)
Expiring 02/28/20	BNP Paribas	EUR	5,554		6,285,739		7,119,519		833,780		—
Expiring 02/28/20	Morgan Stanley	EUR	4,574		5,300,808		5,863,284		562,476		—
Hungarian Forint,
Expiring 07/24/18	Deutsche Bank AG	HUF	1,928,127		7,689,132		7,464,353		—		(224,779	)
Indian Rupee,
Expiring 07/20/18	Barclays Capital Group	INR	769,605		11,587,474		11,431,560		—		(155,914	)
Expiring 07/20/18	Citigroup Global Markets	INR	137,020		2,077,634		2,035,267		—		(42,367	)
Expiring 07/20/18	Citigroup Global Markets	INR	40,915		616,000		607,739		—		(8,261	)
Expiring 07/20/18	Deutsche Bank AG	INR	805,518		12,137,695		11,965,002		—		(172,693	)
Expiring 07/20/18	Morgan Stanley	INR	151,057		2,304,984		2,243,772		—		(61,212	)
Expiring 07/20/18	UBS AG	INR	169,858		2,529,000		2,523,032		—		(5,968	)
Expiring 07/20/18	UBS AG	INR	71,747		1,059,000		1,065,719		6,719		—
Indonesian Rupiah,
Expiring 07/16/18	Barclays Capital Group	IDR	62,758,544		4,433,000		4,471,107		38,107		—
Expiring 07/16/18	Barclays Capital Group	IDR	26,767,020		1,893,000		1,906,963		13,963		—
Expiring 07/16/18	Deutsche Bank AG	IDR	90,259,294		6,517,858		6,430,343		—		(87,515	)
Expiring 07/16/18	Deutsche Bank AG	IDR	13,666,696		985,022		973,656		—		(11,366	)
Expiring 07/16/18	JPMorgan Chase	IDR	60,388,425		4,315,000		4,302,253		—		(12,747	)
Japanese Yen,
Expiring 07/26/18	Citigroup Global Markets	JPY	436,632		4,065,243		4,018,842		—		(46,401	)
Expiring 07/26/18	Citigroup Global Markets	JPY	116,261		1,071,676		1,070,088		—		(1,588	)
Expiring 07/26/18	Citigroup Global Markets	JPY	96,117		898,185		884,680		—		(13,505	)
Expiring 07/26/18	Citigroup Global Markets	JPY	80,085		736,256		737,119		863		—

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 59

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Forward foreign currency exchange contracts outstanding at April 30, 2018 (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.):
Japanese Yen, (cont’d.)
Expiring 07/26/18	Goldman Sachs & Co.	JPY	26,571,555	$	246,100,137	$	244,569,560	$	—	$	(1,530,577	)
Expiring 07/26/18	JPMorgan Chase	JPY	215,396		1,998,687		1,982,548		—		(16,139	)
Expiring 07/26/18	JPMorgan Chase	JPY	134,348		1,236,800		1,236,561		—		(239	)
Expiring 07/26/18	JPMorgan Chase	JPY	112,506		1,035,453		1,035,527		74		—
Expiring 07/26/18	Morgan Stanley	JPY	439,947		4,047,049		4,049,358		2,309		—
Expiring 07/26/18	Morgan Stanley	JPY	175,107		1,612,000		1,611,717		—		(283	)
Expiring 07/26/18	UBS AG	JPY	144,224		1,325,909		1,327,469		1,560		—
Expiring 07/31/18	Deutsche Bank AG	JPY	329,448		3,137,000		3,033,419		—		(103,581	)
Expiring 07/31/18	JPMorgan Chase	JPY	318,150		2,936,195		2,929,391		—		(6,804	)
Expiring 01/29/21	Citigroup Global Markets	JPY	449,088		4,477,000		4,496,433		19,433		—
Malaysian Ringgit,
Expiring 05/22/18	Barclays Capital Group	MYR	14,891		3,818,399		3,792,287		—		(26,112	)
Mexican Peso,
Expiring 06/28/18	Citigroup Global Markets	MXN	27,143		1,464,100		1,437,758		—		(26,342	)
Expiring 06/28/18	JPMorgan Chase	MXN	15,025		813,158		795,865		—		(17,293	)
Expiring 06/28/18	Morgan Stanley	MXN	259,466		13,796,596		13,743,665		—		(52,931	)
Expiring 06/28/18	Morgan Stanley	MXN	38,713		2,087,000		2,050,595		—		(36,405	)
Expiring 06/28/18	Morgan Stanley	MXN	19,072		1,042,505		1,010,211		—		(32,294	)
Expiring 01/29/19	UBS AG	MXN	70,345		3,559,000		3,606,332		47,332		—
Expiring 01/29/19	UBS AG	MXN	64,104		3,241,000		3,286,346		45,346		—
Expiring 01/31/19	Deutsche Bank AG	MXN	5,731		300,000		293,700		—		(6,300	)
Expiring 03/29/19	Morgan Stanley	MXN	133,265		6,292,000		6,773,606		481,606		—
Expiring 12/30/19	Goldman Sachs & Co.	MXN	13,330		651,931		652,024		93		—
New Taiwanese Dollar,
Expiring 07/13/18	Citigroup Global Markets	TWD	65,603		2,254,000		2,229,423		—		(24,577	)
Expiring 07/13/18	Citigroup Global Markets	TWD	43,936		1,498,000		1,493,120		—		(4,880	)
Expiring 07/13/18	Toronto Dominion	TWD	64,806		2,237,000		2,202,345		—		(34,655	)
Expiring 07/13/18	UBS AG	TWD	130,926		4,483,000		4,449,353		—		(33,647	)
Expiring 07/13/18	UBS AG	TWD	117,025		3,973,000		3,976,935		3,935		—
Expiring 07/13/18	UBS AG	TWD	91,821		3,152,000		3,120,416		—		(31,584	)
Expiring 07/13/18	UBS AG	TWD	58,925		2,022,000		2,002,495		—		(19,505	)
Expiring 07/13/18	UBS AG	TWD	50,331		1,711,000		1,710,427		—		(573	)
Expiring 07/13/18	UBS AG	TWD	49,707		1,678,000		1,689,214		11,214		—
New Zealand Dollar,
Expiring 07/12/18	Morgan Stanley	NZD	2,062		1,518,173		1,450,796		—		(67,377	)
Expiring 07/12/18	Morgan Stanley	NZD	1,082		764,000		761,047		—		(2,953	)
Norwegian Krone,
Expiring 07/24/18	Bank of America	NOK	65,923		8,523,415		8,244,173		—		(279,242	)
Peruvian Nuevo Sol,
Expiring 07/13/18	Citigroup Global Markets	PEN	1,619		500,328		496,629		—		(3,699	)

See Notes to Financial Statements.

60

Forward foreign currency exchange contracts outstanding at April 30, 2018 (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.):
Philippine Peso,
Expiring 06/14/18	Barclays Capital Group	PHP	276,564	$	5,285,000	$	5,331,949	$	46,949	$	—
Expiring 06/14/18	Citigroup Global Markets	PHP	21,698		413,851		418,325		4,474		—
Expiring 06/14/18	Deutsche Bank AG	PHP	201,603		3,869,987		3,886,746		16,759		—
Polish Zloty,
Expiring 07/24/18	UBS AG	PLN	50,380		14,875,747		14,377,514		—		(498,233	)
Russian Ruble,
Expiring 07/13/18	Barclays Capital Group	RUB	457,822		7,860,609		7,205,069		—		(655,540	)
Expiring 07/13/18	Barclays Capital Group	RUB	149,760		2,404,175		2,356,874		—		(47,301	)
Expiring 07/13/18	Citigroup Global Markets	RUB	55,090		946,560		866,988		—		(79,572	)
Expiring 06/28/19	Bank of America	RUB	28,497		480,188		432,730		—		(47,458	)
Expiring 06/28/19	Barclays Capital Group	RUB	56,095		947,662		851,822		—		(95,840	)
Expiring 06/28/19	Barclays Capital Group	RUB	27,407		437,176		416,185		—		(20,991	)
Expiring 06/28/19	Goldman Sachs & Co.	RUB	36,994		614,000		561,755		—		(52,245	)
Expiring 12/24/19	Citigroup Global Markets	RUB	229,300		3,345,000		3,426,496		81,496		—
Singapore Dollar,
Expiring 05/11/18	Bank of America	SGD	9,761		7,343,235		7,363,180		19,945		—
Expiring 05/11/18	Citigroup Global Markets	SGD	1,955		1,494,200		1,474,563		—		(19,637	)
Expiring 05/11/18	Deutsche Bank AG	SGD	9,761		7,358,180		7,363,180		5,000		—
Expiring 05/11/18	Hong Kong & Shanghai Bank	SGD	2,680		2,035,300		2,021,943		—		(13,357	)
Expiring 05/11/18	Morgan Stanley	SGD	1,556		1,187,672		1,173,925		—		(13,747	)
Expiring 05/11/18	Morgan Stanley	SGD	1,295		980,000		977,108		—		(2,892	)
South African Rand,
Expiring 06/12/18	Barclays Capital Group	ZAR	26,050		2,213,806		2,077,553		—		(136,253	)
Expiring 06/12/18	Citigroup Global Markets	ZAR	13,919		1,143,327		1,110,091		—		(33,236	)
Expiring 06/12/18	Morgan Stanley	ZAR	17,051		1,401,094		1,359,835		—		(41,259	)
Expiring 06/12/18	Toronto Dominion	ZAR	32,698		2,712,936		2,607,719		—		(105,217	)
Expiring 07/31/18	Morgan Stanley	ZAR	7,629		634,000		604,655		—		(29,345	)
Expiring 07/31/18	Morgan Stanley	ZAR	6,294		514,000		498,838		—		(15,162	)
Expiring 07/31/18	Morgan Stanley	ZAR	6,281		513,000		497,803		—		(15,197	)
Expiring 07/31/18	Morgan Stanley	ZAR	4,402		372,000		348,870		—		(23,130	)
Expiring 11/30/18	Hong Kong & Shanghai Bank	ZAR	4,425		316,000		345,422		29,422		—
Expiring 11/30/18	JPMorgan Chase	ZAR	7,806		630,127		609,385		—		(20,742	)
Expiring 06/28/19	JPMorgan Chase	ZAR	21,053		1,655,217		1,603,472		—		(51,745	)
Expiring 06/28/19	Morgan Stanley	ZAR	13,104		974,000		998,077		24,077		—
Expiring 11/27/19	JPMorgan Chase	ZAR	24,229		1,867,699		1,810,906		—		(56,793	)
Expiring 12/30/19	Barclays Capital Group	ZAR	19,528		1,517,561		1,453,530		—		(64,031	)
South Korean Won,
Expiring 05/09/18	Barclays Capital Group	KRW	3,967,608		3,765,645		3,715,653		—		(49,992	)
Expiring 05/09/18	Citigroup Global Markets	KRW	2,892,274		2,721,372		2,708,606		—		(12,766	)
Expiring 05/09/18	Citigroup Global Markets	KRW	1,792,771		1,677,211		1,678,925		1,714		—

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 61

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Forward foreign currency exchange contracts outstanding at April 30, 2018 (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.):
South Korean Won, (cont’d.)
Expiring 05/09/18	Deutsche Bank AG	KRW	26,295,709	$	24,327,606	$	24,625,853	$	298,247	$	—
Expiring 05/09/18	Deutsche Bank AG	KRW	832,894		785,861		780,003		—		(5,858	)
Expiring 05/09/18	Toronto Dominion	KRW	2,041,755		1,921,290		1,912,097		—		(9,193	)
Expiring 05/09/18	Toronto Dominion	KRW	488,537		458,720		457,513		—		(1,207	)
Expiring 07/31/18	Deutsche Bank AG	KRW	310,278		284,946		291,505		6,559		—
Expiring 07/31/18	Morgan Stanley	KRW	356,400		324,000		334,836		10,836		—
Expiring 07/31/18	UBS AG	KRW	434,765		408,000		408,460		460		—
Expiring 04/30/19	BNP Paribas	KRW	650,928		611,792		619,087		7,295		—
Expiring 04/30/19	Deutsche Bank AG	KRW	362,239		333,631		344,520		10,889		—
Expiring 05/31/19	Goldman Sachs & Co.	KRW	330,408		312,000		314,648		2,648		—
Expiring 05/31/19	Morgan Stanley	KRW	642,595		609,233		611,943		2,710		—
Expiring 07/31/19	BNP Paribas	KRW	771,696		689,200		736,735		47,535		—
Expiring 07/31/19	Morgan Stanley	KRW	7,414,697		6,612,000		7,078,774		466,774		—
Thai Baht,
Expiring 05/11/18	Barclays Capital Group	THB	42,487		1,360,686		1,346,673		—		(14,013	)
Expiring 05/11/18	Citigroup Global Markets	THB	354,306		11,246,040		11,230,031		—		(16,009	)
Expiring 05/11/18	Citigroup Global Markets	THB	129,287		4,159,000		4,097,846		—		(61,154	)
Expiring 05/11/18	Citigroup Global Markets	THB	87,203		2,774,000		2,763,984		—		(10,016	)
Expiring 05/11/18	Citigroup Global Markets	THB	78,651		2,491,000		2,492,902		1,902		—
Expiring 05/11/18	Citigroup Global Markets	THB	57,551		1,827,000		1,824,110		—		(2,890	)
Expiring 05/11/18	Citigroup Global Markets	THB	47,018		1,486,000		1,490,272		4,272		—
Expiring 05/11/18	Deutsche Bank AG	THB	47,114		1,510,857		1,493,310		—		(17,547	)
Turkish Lira,
Expiring 06/12/18	Barclays Capital Group	TRY	14,969		3,689,677		3,634,450		—		(55,227	)
Expiring 06/12/18	Barclays Capital Group	TRY	6,556		1,556,378		1,591,851		35,473		—
Expiring 06/12/18	Citigroup Global Markets	TRY	12,180		3,012,200		2,957,167		—		(55,033	)
Expiring 06/12/18	Citigroup Global Markets	TRY	12,097		2,938,554		2,937,235		—		(1,319	)
Expiring 06/12/18	Citigroup Global Markets	TRY	9,995		2,431,018		2,426,710		—		(4,308	)
Expiring 06/12/18	Citigroup Global Markets	TRY	2,986		738,205		724,897		—		(13,308	)
Expiring 06/12/18	Citigroup Global Markets	TRY	707		180,612		171,568		—		(9,044	)
Expiring 06/12/18	Goldman Sachs & Co.	TRY	12,304		2,953,300		2,987,326		34,026		—
Expiring 07/31/18	Morgan Stanley	TRY	1,471		352,000		351,739		—		(261	)
Expiring 11/30/18	BNP Paribas	TRY	982		254,000		226,070		—		(27,930	)
Expiring 11/30/18	Citigroup Global Markets	TRY	3,526		878,161		811,787		—		(66,374	)
Expiring 11/30/18	Credit Suisse First Boston Corp.	TRY	4,298		1,000,000		989,625		—		(10,375	)
Expiring 11/30/18	Morgan Stanley	TRY	3,969		885,317		913,868		28,551		—
Expiring 02/28/19	Barclays Capital Group	TRY	2,565		569,627		574,547		4,920		—
Expiring 04/30/19	Morgan Stanley	TRY	123		26,146		26,991		845		—
Expiring 08/29/19	Citigroup Global Markets	TRY	19,588		4,030,447		4,160,636		130,189		—
				$	796,995,921	$	791,307,090	$	4,139,966	$	(9,828,797	)

See Notes to Financial Statements.

62

Forward foreign currency exchange contracts outstanding at April 30, 2018 (continued):

Sales Contracts	Counterparty	Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts:
Argentine Peso,
Expiring 05/03/18	BNP Paribas	ARS	20,762	$	1,012,766	$	1,008,917	$	3,849	$	—
Expiring 05/03/18	Citigroup Global Markets	ARS	48,425		2,363,120		2,353,221		9,899		—
Expiring 05/03/18	Citigroup Global Markets	ARS	37,150		1,808,214		1,805,297		2,917		—
Australian Dollar,
Expiring 07/12/18	Bank of America	AUD	9,746		7,506,051		7,339,391		166,660		—
Expiring 07/12/18	Citigroup Global Markets	AUD	5,065		3,894,852		3,814,390		80,462		—
Expiring 07/12/18	JPMorgan Chase	AUD	7,631		5,761,960		5,747,051		14,909		—
Brazilian Real,
Expiring 05/03/18	Citigroup Global Markets	BRL	15,805		4,606,833		4,510,329		96,504		—
Expiring 05/03/18	Goldman Sachs & Co.	BRL	36,473		10,456,252		10,408,340		47,912		—
Expiring 05/03/18	Goldman Sachs & Co.	BRL	9,806		2,891,261		2,798,311		92,950		—
Expiring 05/03/18	UBS AG	BRL	7,194		2,090,000		2,052,869		37,131		—
Expiring 06/29/18	Credit Suisse First Boston Corp.	BRL	3,334		857,143		946,138		—		(88,995	)
Expiring 06/29/18	Credit Suisse First Boston Corp.	BRL	2,927		813,000		830,510		—		(17,510	)
Expiring 07/03/18	BNP Paribas	BRL	14,371		4,082,720		4,076,502		6,218		—
Expiring 07/31/18	Barclays Capital Group	BRL	5,000		1,526,252		1,414,665		111,587		—
Expiring 07/31/18	Barclays Capital Group	BRL	1,083		328,586		306,357		22,229		—
Expiring 07/31/18	Citigroup Global Markets	BRL	2,630		744,000		744,020		—		(20	)
Expiring 09/28/18	Morgan Stanley	BRL	6,902		1,980,000		1,944,639		35,361		—
Expiring 04/30/19	Hong Kong & Shanghai Bank	BRL	5,296		1,458,000		1,469,926		—		(11,926	)
Expiring 09/30/19	JPMorgan Chase	BRL	8,232		2,357,000		2,253,093		103,907		—
Expiring 12/24/19	JPMorgan Chase	BRL	7,093		1,998,000		1,926,236		71,764		—
Expiring 12/24/19	JPMorgan Chase	BRL	5,126		1,450,000		1,392,012		57,988		—
Expiring 03/31/20	JPMorgan Chase	BRL	42,174		11,787,000		11,349,559		437,441		—
British Pound,
Expiring 07/26/18	Bank of America	GBP	3,741		5,242,253		5,172,060		70,193		—
Expiring 07/26/18	Citigroup Global Markets	GBP	3,125		4,378,000		4,321,210		56,790		—
Expiring 11/27/19	Hong Kong & Shanghai Bank	GBP	1,436		2,110,202		2,036,435		73,767		—
Expiring 11/27/19	JPMorgan Chase	GBP	911		1,333,917		1,292,529		41,388		—
Expiring 11/27/19	UBS AG	GBP	292		419,347		414,388		4,959		—
Canadian Dollar,
Expiring 07/12/18	Morgan Stanley	CAD	6,085		4,752,000		4,747,361		4,639		—
Expiring 07/12/18	Morgan Stanley	CAD	596		464,000		465,175		—		(1,175	)
Expiring 01/31/19	Morgan Stanley	CAD	2,621		2,106,174		2,052,729		53,445		—
Expiring 07/31/19	Hong Kong & Shanghai Bank	CAD	541		434,000		425,216		8,784		—

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 63

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Forward foreign currency exchange contracts outstanding at April 30, 2018 (continued):

Sales Contracts	Counterparty	Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts (cont’d.):
Chilean Peso,
Expiring 07/13/18	Barclays Capital Group	CLP	1,200,122	$	1,984,000	$	1,956,255	$	27,745	$	—
Expiring 07/13/18	Barclays Capital Group	CLP	963,999		1,588,687		1,571,364		17,323		—
Expiring 07/13/18	Barclays Capital Group	CLP	466,100		765,165		759,765		5,400		—
Expiring 07/13/18	Citigroup Global Markets	CLP	1,078,413		1,768,325		1,757,864		10,461		—
Expiring 07/13/18	UBS AG	CLP	968,642		1,614,000		1,578,932		35,068		—
Chinese Renminbi,
Expiring 07/24/18	Citigroup Global Markets	CNH	2,588		410,974		408,031		2,943		—
Expiring 07/31/18	Deutsche Bank AG	CNH	4,141		653,424		652,662		762		—
Expiring 11/30/18	Hong Kong & Shanghai Bank	CNH	15,240		2,156,000		2,390,812		—		(234,812	)
Colombian Peso,
Expiring 06/15/18	Citigroup Global Markets	COP	4,755,240		1,665,000		1,691,843		—		(26,843	)
Expiring 06/15/18	UBS AG	COP	1,237,102		439,000		440,142		—		(1,142	)
Czech Koruna,
Expiring 07/12/18	Morgan Stanley	CZK	22,095		1,065,000		1,046,893		18,107		—
Expiring 07/12/18	UBS AG	CZK	87,549		4,148,877		4,148,250		627		—
Euro,
Expiring 07/26/18	Barclays Capital Group	EUR	4,739		5,866,258		5,762,828		103,430		—
Expiring 07/26/18	Citigroup Global Markets	EUR	6,830		8,297,753		8,304,565		—		(6,812	)
Expiring 07/26/18	Citigroup Global Markets	EUR	2,914		3,550,000		3,543,790		6,210		—
Expiring 07/26/18	JPMorgan Chase	EUR	37,298		45,899,746		45,352,711		547,035		—
Expiring 07/26/18	JPMorgan Chase	EUR	13,028		15,852,671		15,841,875		10,796		—
Expiring 07/26/18	JPMorgan Chase	EUR	6,684		8,238,654		8,127,046		111,608		—
Expiring 07/26/18	JPMorgan Chase	EUR	3,500		4,303,680		4,255,854		47,826		—
Expiring 07/26/18	Morgan Stanley	EUR	2,782		3,410,000		3,383,026		26,974		—
Expiring 07/26/18	Morgan Stanley	EUR	1,833		2,255,000		2,229,271		25,729		—
Expiring 07/26/18	UBS AG	EUR	2,178		2,648,361		2,648,203		158		—
Expiring 02/25/19	Citigroup Global Markets	EUR	4,600		5,835,781		5,699,793		135,988		—
Expiring 02/28/19	Deutsche Bank AG	EUR	1,536		1,927,419		1,903,748		23,671		—
Expiring 11/27/19	Citigroup Global Markets	EUR	494		646,795		628,437		18,358		—
Expiring 12/30/19	Deutsche Bank AG	EUR	727		937,525		926,809		10,716		—
Expiring 02/28/20	BNP Paribas	EUR	9,958		12,566,000		12,764,885		—		(198,885	)
Hong Kong Dollar,
Expiring 05/14/18	Toronto Dominion	HKD	5,151		660,303		656,537		3,766		—
Hungarian Forint,
Expiring 07/24/18	Morgan Stanley	HUF	504,683		1,964,000		1,953,779		10,221		—
Expiring 07/24/18	Morgan Stanley	HUF	165,981		643,000		642,561		439		—

See Notes to Financial Statements.

64

Forward foreign currency exchange contracts outstanding at April 30, 2018 (continued):

Sales Contracts	Counterparty	Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts (cont’d.):
Israeli Shekel,
Expiring 07/26/18	Citigroup Global Markets	ILS	36,572	$	10,371,403	$	10,215,774	$	155,629	$	—
Expiring 07/26/18	Morgan Stanley	ILS	2,396		672,000		669,277		2,723		—
Japanese Yen,
Expiring 07/26/18	Citigroup Global Markets	JPY	439,453		4,065,244		4,044,806		20,438		—
Expiring 07/31/18	Citigroup Global Markets	JPY	710,208		6,576,000		6,539,303		36,697		—
Expiring 07/31/18	JPMorgan Chase	JPY	52,794		487,000		486,106		894		—
Expiring 06/28/19	Bank of America	JPY	117,369		1,070,711		1,111,665		—		(40,954	)
Expiring 06/28/19	Morgan Stanley	JPY	224,761		2,132,745		2,128,825		3,920		—
Mexican Peso,
Expiring 06/28/18	Citigroup Global Markets	MXN	38,128		2,026,000		2,019,581		6,419		—
Expiring 01/31/19	Morgan Stanley	MXN	42,503		1,834,000		2,178,328		—		(344,328	)
Expiring 03/29/19	Barclays Capital Group	MXN	4,369		210,240		222,071		—		(11,831	)
Expiring 03/29/19	JPMorgan Chase	MXN	40,651		1,959,387		2,066,201		—		(106,814	)
Expiring 03/29/19	JPMorgan Chase	MXN	26,510		1,262,000		1,347,455		—		(85,455	)
Expiring 03/29/19	JPMorgan Chase	MXN	4,765		239,778		242,200		—		(2,422	)
Expiring 12/30/19	Morgan Stanley	MXN	23,784		1,074,000		1,163,355		—		(89,355	)
New Taiwanese Dollar,
Expiring 07/13/18	Barclays Capital Group	TWD	622,444		21,480,618		21,152,957		327,661		—
Expiring 07/13/18	Citigroup Global Markets	TWD	34,645		1,188,507		1,177,365		11,142		—
New Zealand Dollar,
Expiring 07/12/18	Citigroup Global Markets	NZD	17,752		12,959,582		12,489,421		470,161		—
Norwegian Krone,
Expiring 07/24/18	Morgan Stanley	NOK	5,539		697,000		692,687		4,313		—
Expiring 07/24/18	Morgan Stanley	NOK	3,254		409,000		406,928		2,072		—
Peruvian Nuevo Sol,
Expiring 07/13/18	UBS AG	PEN	2,517		776,000		772,168		3,832		—
Philippine Peso,
Expiring 06/14/18	Barclays Capital Group	PHP	219,566		4,199,000		4,233,063		—		(34,063	)
Expiring 06/14/18	Barclays Capital Group	PHP	190,967		3,616,115		3,681,702		—		(65,587	)
Expiring 06/14/18	Barclays Capital Group	PHP	114,230		2,181,000		2,202,267		—		(21,267	)
Expiring 06/14/18	Barclays Capital Group	PHP	104,367		1,987,000		2,012,121		—		(25,121	)
Expiring 06/14/18	Barclays Capital Group	PHP	63,828		1,213,000		1,230,557		—		(17,557	)
Expiring 06/14/18	Toronto Dominion	PHP	108,289		2,061,906		2,087,736		—		(25,830	)
Polish Zloty,
Expiring 07/24/18	Citigroup Global Markets	PLN	1,649		474,000		470,499		3,501		—
Expiring 07/24/18	Morgan Stanley	PLN	9,201		2,637,000		2,625,948		11,052		—
Russian Ruble,
Expiring 07/13/18	Barclays Capital Group	RUB	195,213		3,078,000		3,072,207		5,793		—

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 65

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Forward foreign currency exchange contracts outstanding at April 30, 2018 (continued):

Sales Contracts	Counterparty	Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts (cont’d.):
Russian Ruble, (cont’d.)
Expiring 07/13/18	Barclays Capital Group	RUB	104,210	$	1,714,905	$	1,640,036	$	74,869	$	—
Expiring 07/13/18	Barclays Capital Group	RUB	70,224		1,116,000		1,105,171		10,829		—
Expiring 07/13/18	Barclays Capital Group	RUB	38,952		621,700		613,013		8,687		—
Expiring 07/13/18	Citigroup Global Markets	RUB	60,991		972,125		959,861		12,264		—
Expiring 06/28/19	Morgan Stanley	RUB	145,904		2,166,000		2,215,584		—		(49,584	)
Expiring 12/24/19	Barclays Capital Group	RUB	48,233		739,309		720,753		18,556		—
Expiring 12/24/19	Goldman Sachs & Co.	RUB	124,622		2,031,000		1,862,267		168,733		—
Expiring 03/31/20	Citigroup Global Markets	RUB	305,303		4,444,000		4,521,796		—		(77,796	)
Saudi Arabian Riyal,
Expiring 11/12/19	Goldman Sachs & Co.	SAR	57,150		15,000,000		15,193,548		—		(193,548	)
Singapore Dollar,
Expiring 05/11/18	Morgan Stanley	SGD	4,677		3,570,000		3,528,157		41,843		—
Expiring 05/11/18	Morgan Stanley	SGD	1,660		1,254,000		1,252,128		1,872		—
Expiring 05/11/18	Morgan Stanley	SGD	1,609		1,212,000		1,213,890		—		(1,890	)
Expiring 05/11/18	Morgan Stanley	SGD	1,350		1,016,000		1,018,520		—		(2,520	)
South African Rand,
Expiring 06/12/18	JPMorgan Chase	ZAR	24,651		1,964,000		1,965,969		—		(1,969	)
Expiring 06/12/18	Morgan Stanley	ZAR	8,014		641,000		639,134		1,866		—
Expiring 09/28/18	Barclays Capital Group	ZAR	2,416		198,195		190,058		8,137		—
Expiring 11/30/18	Credit Suisse First Boston Corp.	ZAR	12,230		781,000		954,808		—		(173,808	)
Expiring 06/28/19	BNP Paribas	ZAR	5,451		350,000		415,193		—		(65,193	)
Expiring 06/28/19	Hong Kong & Shanghai Bank	ZAR	28,706		1,986,000		2,186,356		—		(200,356	)
South Korean Won,
Expiring 05/09/18	BNP Paribas	KRW	3,568,770		3,308,000		3,342,142		—		(34,142	)
Expiring 05/09/18	BNP Paribas	KRW	1,776,667		1,672,001		1,663,844		8,157		—
Expiring 05/09/18	BNP Paribas	KRW	1,655,421		1,527,000		1,550,297		—		(23,297	)
Expiring 05/09/18	Citigroup Global Markets	KRW	2,496,945		2,330,000		2,338,381		—		(8,381	)
Expiring 07/31/18	Bank of America	KRW	666,678		585,576		626,342		—		(40,766	)
Expiring 04/30/19	Goldman Sachs & Co.	KRW	375,417		354,000		357,053		—		(3,053	)
Expiring 04/30/19	JPMorgan Chase	KRW	637,750		568,000		606,554		—		(38,554	)
Expiring 05/31/19	Morgan Stanley	KRW	1,326,000		1,200,000		1,262,750		—		(62,750	)
Expiring 07/31/19	Deutsche Bank AG	KRW	5,155,997		4,618,000		4,922,405		—		(304,405	)
Expiring 07/31/19	Goldman Sachs & Co.	KRW	2,606,370		2,460,000		2,488,288		—		(28,288	)
Expiring 12/24/19	Goldman Sachs & Co.	KRW	79,350		75,000		76,210		—		(1,210	)
Swedish Krona,
Expiring 07/24/18	Bank of America	SEK	49,190		5,903,518		5,655,963		247,555		—

See Notes to Financial Statements.

66

Forward foreign currency exchange contracts outstanding at April 30, 2018 (continued):

Sales Contracts	Counterparty	Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts (cont’d.):
Swiss Franc,
Expiring 07/24/18	Bank of America	CHF	43,381	$	44,727,499	$	44,111,886	$	615,613	$	—
Expiring 07/24/18	JPMorgan Chase	CHF	1,181		1,225,242		1,200,667		24,575		—
Expiring 07/24/18	JPMorgan Chase	CHF	736		756,001		748,275		7,726		—
Expiring 07/24/18	Morgan Stanley	CHF	794		810,010		807,525		2,485		—
Expiring 07/24/18	Toronto Dominion	CHF	2,595		2,703,513		2,639,062		64,451		—
Thai Baht,
Expiring 05/11/18	Citigroup Global Markets	THB	132,703		4,257,000		4,206,144		50,856		—
Expiring 05/11/18	Citigroup Global Markets	THB	67,282		2,139,000		2,132,565		6,435		—
Expiring 05/11/18	Citigroup Global Markets	THB	65,134		2,073,000		2,064,464		8,536		—
Expiring 05/11/18	Citigroup Global Markets	THB	38,478		1,222,000		1,219,583		2,417		—
Expiring 05/11/18	Citigroup Global Markets	THB	31,165		993,000		987,810		5,190		—
Expiring 05/11/18	Citigroup Global Markets	THB	25,737		819,000		815,757		3,243		—
Expiring 05/11/18	Morgan Stanley	THB	25,446		817,144		806,540		10,604		—
Turkish Lira,
Expiring 06/12/18	Barclays Capital Group	TRY	8,415		2,122,866		2,043,043		79,823		—
Expiring 06/12/18	UBS AG	TRY	14,646		3,630,270		3,556,061		74,209		—
Expiring 06/12/18	UBS AG	TRY	13,861		3,515,143		3,365,432		149,711		—
Expiring 06/12/18	UBS AG	TRY	11,491		2,868,521		2,790,016		78,505		—
Expiring 06/12/18	UBS AG	TRY	8,525		2,139,553		2,069,773		69,780		—
Expiring 06/29/18	Morgan Stanley	TRY	4,092		959,358		988,643		—		(29,285	)
Expiring 11/30/18	BNP Paribas	TRY	10,110		2,247,365		2,327,852		—		(80,487	)
Expiring 11/30/18	BNP Paribas	TRY	2,664		727,000		613,497		113,503		—
Expiring 04/30/19	BNP Paribas	TRY	4,751		1,093,705		1,044,133		49,572		—
Expiring 04/30/19	BNP Paribas	TRY	914		210,240		200,776		9,464		—
Expiring 08/29/19	BNP Paribas	TRY	9,857		2,392,000		2,093,795		298,205		—
Expiring 08/29/19	Morgan Stanley	TRY	9,781		2,006,725		2,077,576		—		(70,851	)
Expiring 12/24/19	BNP Paribas	TRY	13,966		3,000,000		2,867,061		132,939		—
				$	485,546,021	$	482,054,387		6,442,471		(2,950,837	)
								$	10,582,437	$	(12,779,634	)

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 67

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Cross currency exchange contracts outstanding at April 30, 2018:

Settlement	Type	Notional Amount (000)			In Exchange For (000)			Unrealized Appreciation		Unrealized Depreciation			Counterparty
OTC cross currency exchange contracts:
06/29/18	Buy		EUR	886		TRY	3,420	$	249,234	$	—			Credit Suisse First Boston Corp.
06/29/18	Buy		TRY	4,928		EUR	1,094		—		(136,599	)		Credit Suisse First Boston Corp.
06/29/18	Buy		TRY	2,583		EUR	582		—		(82,091	)		BNP Paribas
07/12/18	Buy		CAD	4,848		JPY	406,452		45,343		—			Barclays Capital Group
07/24/18	Buy		CHF	15,751		EUR	13,168		7,924		—			Citigroup Global Markets
09/28/18	Buy		EUR	991		ZAR	15,544		—		(11,138	)		BNP Paribas
09/28/18	Buy		ZAR	17,960		EUR	1,024		160,851		—			Citigroup Global Markets
02/28/19	Buy		EUR	1,536		TRY	8,215		63,777		—			JPMorgan Chase
04/30/19	Buy		EUR	2,559		TRY	12,437		455,927		—			BNP Paribas
04/30/19	Buy		TRY	17,481		EUR	3,132		—		(61,396	)		Citigroup Global Markets
06/28/19	Buy		AUD	1,120		JPY	94,696		—		(49,575	)		BNP Paribas
06/28/19	Buy		JPY	493,315		AUD	5,950		170,944		—			Morgan Stanley
11/27/19	Buy		EUR	2,122		ZAR	41,069		—		(372,594	)		Citigroup Global Markets
11/27/19	Buy		ZAR	16,840		EUR	974		20,764		—			Deutsche Bank AG
12/30/19	Buy		EUR	1,930		ZAR	33,514		—		(34,148	)		Deutsche Bank AG
12/30/19	Buy		ZAR	19,940		EUR	1,203		—		(49,454	)		Morgan Stanley
01/31/20	Buy		AUD	4,212		JPY	327,609		35,744		—			Deutsche Bank AG
01/31/20	Buy		EUR	2,420		TRY	14,760		98,314		—			Goldman Sachs & Co.
03/31/20	Buy		EUR	7,374		ZAR	124,584		314,284		—			Morgan Stanley
11/30/20	Buy		JPY	382,815		AUD	4,906		75,387		—			Deutsche Bank AG
								$	1,698,493	$	(796,995	)

Credit default swap agreements outstanding at April 30, 2018:

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Fair Value(4)		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)		Counterparty
OTC credit default swaps on asset-backed securities—Sell Protection(2)^:
Babson		05/15/18		1.000%(M)		2,372	$	3,161	$	—	$	3,161	Goldman Sachs & Co.
Banc of America Commercial Mortgage Trust		05/30/18		1.500%(M)		69		106		—		106	Goldman Sachs & Co.
Banc of America Commercial Mortgage Trust		05/30/18		1.500%(M)		24		37		—		37	Goldman Sachs & Co.
Bear Stearns Asset Backed Securities Trust		05/31/18		1.500%(M)		336		447		—		447	Goldman Sachs & Co.

See Notes to Financial Statements.

68

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Fair Value(4)		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)		Counterparty
OTC credit default swaps on asset-backed securities—Sell Protection(2)^ (cont’d.):
Bear Stearns Asset Backed Securities Trust		05/31/18		1.500%(M)		204	$	272	$	—	$	272	Goldman Sachs & Co.
Bear Stearns Asset Backed Securities Trust		05/31/18		1.500%(M)		74		99		—		99	Goldman Sachs & Co.
Chase Mortgage		05/31/18		1.500%(M)		276		46		—		46	Goldman Sachs & Co.
Citibank Mortgage		05/31/18		1.500%(M)		129		171		—		171	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		108		166		—		166	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		102		156		—		156	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		93		143		—		143	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		90		138		—		138	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		80		123		—		123	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		72		111		—		111	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		55		84		—		84	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		53		82		—		82	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		33		51		—		51	Goldman Sachs & Co.
COMM Mortgage Trust		05/30/18		1.500%(M)		28		43		—		43	Goldman Sachs & Co.
Equity One Home Equity		05/31/18		1.500%(M)		269		358		—		358	Goldman Sachs & Co.
Federal Home Loan Mortgage Corp.		05/30/18		1.500%(M)		157		242		—		242	Goldman Sachs & Co.
Federal Home Loan Mortgage Corp.		05/30/18		1.500%(M)		93		143		—		143	Goldman Sachs & Co.
First Franklin Home Equity		05/31/18		1.500%(M)		113		19		—		19	Goldman Sachs & Co.
Flagship		05/15/18		1.000%(M)		1,836		2,446		—		2,446	Goldman Sachs & Co.
GS Mortgage Securities Trust		05/30/18		1.500%(M)		218		335		—		335	Goldman Sachs & Co.
GS Mortgage Securities Trust		05/30/18		1.500%(M)		140		215		—		215	Goldman Sachs & Co.
GS Mortgage Securities Trust		05/30/18		1.500%(M)		89		137		—		137	Goldman Sachs & Co.
GS Mortgage Securities Trust		05/30/18		1.500%(M)		73		112		—		112	Goldman Sachs & Co.
GS Mortgage Securities Trust		05/30/18		1.500%(M)		62		95		—		95	Goldman Sachs & Co.
GS Mortgage Securities Trust		05/30/18		1.500%(M)		51		79		—		79	Goldman Sachs & Co.
GS Mortgage Securities Trust		05/30/18		1.500%(M)		30		46		—		46	Goldman Sachs & Co.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 69

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Fair Value(4)		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)		Counterparty
OTC credit default swaps on asset-backed securities—Sell Protection(2)^ (cont’d.):
GS Mortgage Securities Trust		05/30/18		1.500%(M)		29	$	44	$	—	$	44	Goldman Sachs & Co.
GSAMP Home Equity		05/31/18		1.500%(M)		110		146		—		146	Goldman Sachs & Co.
Invesco		05/15/18		1.000%(M)		1,879		2,504		—		2,504	Goldman Sachs & Co.
JPMBB Commercial Mortgage Securities Trust		05/30/18		1.500%(M)		122		188		—		188	Goldman Sachs & Co.
JPMBB Commercial Mortgage Securities Trust		05/30/18		1.500%(M)		94		144		—		144	Goldman Sachs & Co.
JPMBB Commercial Mortgage Securities Trust		05/30/18		1.500%(M)		31		48		—		48	Goldman Sachs & Co.
Lehman Home Equity		05/31/18		1.500%(M)		241		321		—		321	Goldman Sachs & Co.
Long Beach Home Equity		05/31/18		1.500%(M)		227		303		—		303	Goldman Sachs & Co.
Morgan Stanley BAML Trust		05/30/18		1.500%(M)		157		242		—		242	Goldman Sachs & Co.
Morgan Stanley BAML Trust		05/30/18		1.500%(M)		66		102		—		102	Goldman Sachs & Co.
Morgan Stanley BAML Trust		05/30/18		1.500%(M)		53		81		—		81	Goldman Sachs & Co.
Morgan Stanley BAML Trust		05/30/18		1.500%(M)		48		74		—		74	Goldman Sachs & Co.
Morgan Stanley BAML Trust		05/30/18		1.500%(M)		41		63		—		63	Goldman Sachs & Co.
Morgan Stanley BAML Trust		05/30/18		1.500%(M)		35		54		—		54	Goldman Sachs & Co.
Morgan Stanley BAML Trust		05/30/18		1.500%(M)		33		51		—		51	Goldman Sachs & Co.
Morgan Stanley BAML Trust		05/30/18		1.500%(M)		20		31		—		31	Goldman Sachs & Co.
Morgan Stanley Home Equity		05/31/18		1.500%(M)		120		159		—		159	Goldman Sachs & Co.
Morgan Stanley Home Equity		05/31/18		1.500%(M)		106		142		—		142	Goldman Sachs & Co.
Napier		05/15/18		1.000%(M)		984		1,311		—		1,311	Goldman Sachs & Co.
New Century Home Equity		05/31/18		1.500%(M)		217		289		—		289	Goldman Sachs & Co.

See Notes to Financial Statements.

70

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Fair Value(4)		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)		Counterparty
OTC credit default swaps on asset-backed securities—Sell Protection(2)^ (cont’d.):
New Century Home Equity		05/31/18		1.500%(M)		131	$	174	$	—	$	174	Goldman Sachs & Co.
Octagon		05/15/18		1.000%(M)		1,086		1,447		—		1,447	Goldman Sachs & Co.
Option One Home Equity		05/31/18		1.500%(M)		378		503		—		503	Goldman Sachs & Co.
Partners Group		05/15/18		1.000%(M)	EUR	829		1,336		—		1,336	Goldman Sachs & Co.
Silvermine		05/15/18		1.000%(M)		1,788		2,382		—		2,382	Goldman Sachs & Co.
Venture CDO Ltd.		05/15/18		1.000%(M)		138		183		—		183	Goldman Sachs & Co.
WAMCO		05/15/18		1.000%(M)		1,383		1,843		—		1,843	Goldman Sachs & Co.
WF-RBS Commercial Mortgage Trust		05/30/18		1.500%(M)		21		32		—		32	Goldman Sachs & Co.
							$	23,860	$	—	$	23,860

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Implied Credit Spread at April 30, 2018(5)			Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)			Counterparty
OTC credit default swaps on corporate and/or sovereign Issues—Buy Protection(1):
Assured Guaranty Corp.		09/20/20		5.000%(Q)		300		0.479	%	$	(33,290	)	$	(16,608	)	$	(16,682	)	Credit Suisse First Boston Corp.
Bank of China Ltd.		06/20/21		1.000%(Q)		1,900		0.368	%		(38,513	)		42,740			(81,253	)	Deutsche Bank AG
Central Bank of Tunisia		12/20/22		1.000%(Q)		700		2.891	%		53,380			70,893			(17,513	)	Barclays Capital Group
China Development Bank Corp.		06/20/21		1.000%(Q)		1,900		0.357	%		(39,134	)		26,990			(66,124	)	Deutsche Bank AG
Kingdom of Spain		06/20/19		1.000%(Q)		700		0.092	%		(8,020	)		(2,988	)		(5,032	)	Deutsche Bank AG
Republic of Argentina		06/20/18		5.000%(Q)		3,000		0.765	%		(35,393	)		(128,658	)		93,265		BNP Paribas
Republic of Ireland		06/20/19		1.000%(Q)		700		0.040	%		(8,439	)		(10,231	)		1,792		Deutsche Bank AG
Republic of Italy		06/20/19		1.000%(Q)		900		0.215	%		(9,052	)		5,740			(14,792	)	Deutsche Bank AG
Republic of Portugal		06/20/19		1.000%(Q)		400		0.130	%		(4,411	)		12,674			(17,085	)	Deutsche Bank AG
										$	(122,872	)	$	552		$	(123,424	)

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 71

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Implied Credit Spread at April 30, 2018(5)			Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)		Counterparty
OTC credit default swaps on corporate and/or sovereign Issues —Sell Protection(2):
Arab Republic of Egypt		06/20/19		1.000%(Q)		1,300		1.305	%	$	(2,943	)	$	(3,737	)	$	794	Citigroup Global Markets
Federation of Malaysia		12/20/19		1.000%(Q)		2,000		0.245	%		26,752			16,516			10,236	Barclays Capital Group
Federation of Malaysia		12/20/19		1.000%(Q)		2,000		0.245	%		26,752			16,034			10,718	Hong Kong & Shanghai Bank
Generalitat de Cataluna		12/20/22		1.000%(Q)		2,960		2.656	%		(193,302	)		(441,383	)		248,081	Citigroup Global Markets
Hellenic Republic		06/20/22		1.000%(Q)		410		2.859	%		(27,273	)		(70,771	)		43,498	Citigroup Global Markets
Hellenic Republic		06/20/22		1.000%(Q)		200		2.859	%		(13,304	)		(35,500	)		22,196	Goldman Sachs & Co.
Hellenic Republic		12/20/22		1.000%(Q)		500		3.016	%		(39,722	)		(49,578	)		9,856	Citigroup Global Markets
Hellenic Republic		06/20/24		1.000%(Q)		1,000		3.339	%		(114,799	)		(216,250	)		101,451	Barclays Capital Group
Kingdom of Belgium		03/20/20		1.000%(Q)		3,000		0.038	%		57,231			(14,500	)		71,731	JPMorgan Chase
Kingdom of Belgium		12/20/24		1.000%(Q)		3,500		0.221	%		169,658			20,902			148,756	Hong Kong & Shanghai Bank
Kingdom of Belgium		06/20/26		1.000%(Q)		4,000		0.276	%		214,706			102,240			112,466	Barclays Capital Group
Kingdom of Denmark		06/20/26		0.250%(Q)		1,000		0.209	%		3,256			(16,628	)		19,884	Goldman Sachs & Co.
Kingdom of Saudi Arabia		12/20/21		1.000%(Q)		1,900		0.596	%		28,818			(38,725	)		67,543	Barclays Capital Group
Kingdom of Spain		09/20/20		1.000%(Q)		2,500		0.205	%		49,319			916			48,403	Barclays Capital Group
Kingdom of Spain		06/20/21		1.000%(Q)		700		0.184	%		18,132			(7,647	)		25,779	Deutsche Bank AG
Kingdom of Spain		09/20/21		1.000%(Q)		1,500		0.200	%		40,849			18,280			22,569	Hong Kong & Shanghai Bank
Kingdom of Spain		06/20/24		1.000%(Q)		700		0.339	%		26,874			(25,398	)		52,272	Deutsche Bank AG
Kingdom of Sweden		06/20/26		0.250%(Q)		1,000		0.180	%		5,371			(15,719	)		21,090	Goldman Sachs & Co.

See Notes to Financial Statements.

72

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Implied Credit Spread at April 30, 2018(5)			Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)		Counterparty
OTC credit default swaps on corporate and/or sovereign Issues—Sell Protection(2) (cont’d.):
Kingdom of Thailand		12/20/21		1.000%(Q)		2,100		0.297	%	$	53,823		$	3,012		$	50,811	Barclays Capital Group
Oriental Republic of Uruguay		06/20/20		1.000%(Q)		4,250		1.054	%		203			(27,517	)		27,720	Citigroup Global Markets
Oriental Republic of Uruguay		06/20/21		1.000%(Q)		400		1.264	%		(2,671	)		(5,623	)		2,952	Citigroup Global Markets
People’s Republic of China		06/20/19		1.000%(Q)		650		0.101	%		7,383			603			6,780	Hong Kong & Shanghai Bank
People’s Republic of China		12/20/19		1.000%(Q)		2,000		0.170	%		29,205			20,407			8,798	Citigroup Global Markets
People’s Republic of China		12/20/19		1.000%(Q)		1,000		0.170	%		14,602			10,204			4,398	Hong Kong & Shanghai Bank
People’s Republic of China		06/20/21		1.000%(Q)		4,000		0.317	%		87,339			(45,657	)		132,996	Deutsche Bank AG
People’s Republic of China		12/20/21		1.000%(Q)		1,600		0.390	%		35,788			(5,233	)		41,021	Citigroup Global Markets
People’s Republic of China		12/20/21		1.000%(Q)		1,500		0.390	%		33,551			(4,230	)		37,781	Barclays Capital Group
People’s Republic of China		03/20/22		1.000%(Q)		2,000		0.419	%		45,250			(21,992	)		67,242	Goldman Sachs & Co.
People’s Republic of China		03/20/22		1.000%(Q)		1,000		0.419	%		22,625			(17,211	)		39,836	Deutsche Bank AG
Petroleo Brasileiro SA		06/20/18		1.000%(Q)		2,300		0.443	%		4,489			(102,865	)		107,354	Barclays Capital Group
Petroleos Mexicanos		09/20/21		1.000%(Q)		2,500		1.237	%		(16,124	)		(70,059	)		53,935	Goldman Sachs & Co.
Republic of Brazil		09/20/18		1.000%(Q)		2,000		0.525	%		6,074			4,693			1,381	BNP Paribas
Republic of Brazil		09/20/18		1.000%(Q)		1,000		0.525	%		3,037			(44,239	)		47,276	Barclays Capital Group

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 73

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Implied Credit Spread at April 30, 2018(5)			Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)			Counterparty
OTC credit default swaps on corporate and/or sovereign Issues—Sell Protection(2) (cont’d.):
Republic of Chile		12/20/21		1.000%(Q)		2,500		0.342	%	$	60,173		$	2,887		$	57,286		Deutsche Bank AG
Republic of Colombia		12/20/21		1.000%(Q)		2,000		0.724	%		21,438			(41,036	)		62,474		Hong Kong & Shanghai Bank
Republic of Colombia		06/20/23		1.000%(Q)		5,000		1.069	%		(10,366	)		3,547			(13,913	)	Deutsche Bank AG
Republic of Colombia		12/20/26		1.000%(Q)		1,000		1.680	%		(48,080	)		(91,189	)		43,109		Citigroup Global Markets
Republic of France		03/20/19		0.250%(Q)		1,200		0.024	%		2,755			(14,962	)		17,717		Deutsche Bank AG
Republic of France		12/20/19		0.250%(Q)		7,000		0.054	%		24,239			(107,630	)		131,869		Hong Kong & Shanghai Bank
Republic of France		12/20/19		0.250%(Q)		2,500		0.054	%		8,657			(15,171	)		23,828		Goldman Sachs & Co.
Republic of France		03/20/20		0.250%(Q)		3,000		0.042	%		12,513			(188,678	)		201,191		JPMorgan Chase
Republic of Hungary		06/20/22		1.000%(Q)		3,550		0.635	%		54,751			(22,288	)		77,039		Citigroup Global Markets
Republic of Indonesia		09/20/18		1.000%(Q)		2,200		0.020	%		9,502			(122,244	)		131,746		Deutsche Bank AG
Republic of Indonesia		12/20/18		1.000%(Q)		1,200		0.192	%		7,624			(70,888	)		78,512		Goldman Sachs & Co.
Republic of Ireland		06/20/18		1.000%(Q)		2,000		0.025	%		5,081			(81,677	)		86,758		Hong Kong & Shanghai Bank
Republic of Ireland		06/20/21		1.000%(Q)		700		0.088	%		20,196			3,082			17,114		Deutsche Bank AG
Republic of Ireland		06/20/23		1.000%(Q)		4,080		0.228	%		156,002			48,193			107,809		Goldman Sachs & Co.
Republic of Ireland		06/20/24		1.000%(Q)		4,000		0.284	%		166,224			86,119			80,105		JPMorgan Chase
Republic of Ireland		06/20/24		1.000%(Q)		700		0.196	%		32,686			(8,907	)		41,593		Deutsche Bank AG
Republic of Ireland		12/20/26		1.000%(Q)		3,100		0.389	%		147,295			(2,638	)		149,933		JPMorgan Chase
Republic of Ireland		12/20/26		1.000%(Q)		2,000		0.389	%		95,029			5,096			89,933		Goldman Sachs & Co.
Republic of Ireland		06/20/27		1.000%(Q)		2,800		0.406	%		135,514			70,830			64,684		Morgan Stanley
Republic of Italy		06/20/20		1.000%(Q)		6,000		0.479	%		72,308			(14,463	)		86,771		Hong Kong & Shanghai Bank

See Notes to Financial Statements.

74

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Implied Credit Spread at April 30, 2018(5)			Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)		Counterparty
OTC credit default swaps on corporate and/or sovereign Issues—Sell Protection(2) (cont’d.):
Republic of Italy		09/20/20		1.000%(Q)		1,500		0.534	%	$	17,984		$	(13,249	)	$	31,233	Barclays Capital Group
Republic of Italy		03/20/22		1.000%(Q)		3,000		0.745	%		31,467			(108,435	)		139,902	JPMorgan Chase
Republic of Italy		03/20/22		1.000%(Q)		3,000		0.745	%		31,467			(108,518	)		139,985	Goldman Sachs & Co.
Republic of Italy		06/20/23		1.000%(Q)		4,000		0.899	%		23,674			—			23,674	Morgan Stanley
Republic of Italy		06/20/24		1.000%(Q)		900		0.692	%		16,450			(50,860	)		67,310	Deutsche Bank AG
Republic of Italy		06/20/26		1.000%(Q)		5,000		1.221	%		(70,418	)		(371,094	)		300,676	BNP Paribas
Republic of Italy		12/20/26		1.000%(Q)		400		1.259	%		(7,031	)		(36,893	)		29,862	Hong Kong & Shanghai Bank
Republic of Panama		12/20/20		1.000%(Q)		5,500		0.260	%		111,010			(206,535	)		317,545	JPMorgan Chase
Republic of Panama		06/20/22		1.000%(Q)		5,000		0.468	%		110,214			43,319			66,895	Citigroup Global Markets
Republic of Peru		03/20/22		1.000%(Q)		3,000		0.533	%		55,199			(105,928	)		161,127	Barclays Capital Group
Republic of Philippines		09/20/20		1.000%(Q)		1,700		0.325	%		28,723			(8,268	)		36,991	JPMorgan Chase
Republic of Philippines		12/20/20		1.000%(Q)		750		0.362	%		13,148			(42	)		13,190	Deutsche Bank AG
Republic of Philippines		09/20/21		1.000%(Q)		1,000		0.462	%		18,636			(15,838	)		34,474	Hong Kong & Shanghai Bank
Republic of Philippines		03/20/22		1.000%(Q)		1,000		0.533	%		18,362			(17,211	)		35,573	Deutsche Bank AG
Republic of Portugal		09/20/20		1.000%(Q)		1,500		0.302	%		26,165			(53,625	)		79,790	Goldman Sachs & Co.
Republic of Portugal		06/20/21		1.000%(Q)		700		0.288	%		15,887			(44,567	)		60,454	Deutsche Bank AG
Republic of Portugal		06/20/24		1.000%(Q)		400		0.594	%		9,530			(39,789	)		49,319	Deutsche Bank AG
Republic of Slovenia		06/20/24		1.000%(Q)		900		0.737	%		14,298			(69,737	)		84,035	Hong Kong & Shanghai Bank

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 75

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Implied Credit Spread at April 30, 2018(5)			Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)			Counterparty
OTC credit default swaps on corporate and/or sovereign Issues—Sell Protection(2) (cont’d.):
Republic of South Africa		12/20/18		1.000%(Q)		1,200		0.316	%	$	6,666		$	(64,857	)	$	71,523		Goldman Sachs & Co.
Republic of South Africa		06/20/23		1.000%(Q)		5,000		1.606	%		(135,399	)		(123,048	)		(12,351	)	Deutsche Bank AG
Republic of Turkey		06/20/18		1.000%(Q)		5,000		0.633	%		8,414			3,093			5,321		Citigroup Global Markets
Republic of Turkey		06/20/18		1.000%(Q)		2,000		0.633	%		3,366			2,031			1,335		BNP Paribas
Republic of Turkey		03/20/20		1.000%(Q)		2,000		1.047	%		602			(76,304	)		76,906		JPMorgan Chase
Russian Federation		12/20/21		1.000%(Q)		8,525		1.035	%		(332	)		(491,510	)		491,178		Barclays Capital Group
Russian Federation		12/20/21		1.000%(Q)		3,000		1.035	%		(117	)		(178,672	)		178,555		Barclays Capital Group
Russian Federation		12/20/22		1.000%(Q)		7,350		1.223	%		(61,602	)		(17,626	)		(43,976	)	Citigroup Global Markets
Russian Federation		06/20/23		1.000%(Q)		7,000		1.318	%		(95,996	)		(115,750	)		19,754		Morgan Stanley
Russian Federation		06/20/23		1.000%(Q)		4,000		1.318	%		(54,855	)		(79,215	)		24,360		Morgan Stanley
Russian Federation		06/20/23		1.000%(Q)		1,640		1.318	%		(22,491	)		(32,043	)		9,552		BNP Paribas
Russian Federation		12/20/26		1.000%(Q)		1,200		1.835	%		(70,216	)		(131,616	)		61,400		Barclays Capital Group
State Bank of India		06/20/18		1.000%(Q)		3,700		0.148	%		8,759			4,471			4,288		Morgan Stanley
State of Illinois^		12/20/22		1.000%(Q)		2,725		*	%		(82,916	)		(110,628	)		27,712		Citigroup Global Markets
State of Illinois^		12/20/24		1.000%(Q)		2,800		*	%		(218,656	)		(195,658	)		(22,998	)	Goldman Sachs & Co.
State of Illinois^		06/20/28		1.000%(Q)		1,000		*	%		(114,571	)		(115,737	)		1,166		Citigroup Global Markets
United Mexican States		06/20/23		1.000%(Q)		5,000		1.136	%		(26,149	)		(7,083	)		(19,066	)	Deutsche Bank AG
										$	1,183,762		$	(4,566,094	)	$	5,749,856

See Notes to Financial Statements.

76

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Value at Trade Date			Value at April 30, 2018(4)			Unrealized Appreciation (Depreciation)
Centrally cleared credit default swaps on credit indices--Buy Protection(1):
CDX.NA.IG.29.V1		12/20/27		1.000%(Q)		18,571	$	(9,512	)	$	(30,451	)	$	(20,939	)
CDX.NA.IG.30.V1		06/20/28		1.000%(Q)		8,560		36,773			16,113			(20,660	)
iTraxx.EUR.28.V1		12/20/27		1.000%(Q)	EUR	11,760		(51,534	)		(139,495	)		(87,961	)
							$	(24,273	)	$	(153,833	)	$	(129,560	)
Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Value at Trade Date			Value at April 30, 2018(4)			Unrealized Appreciation (Depreciation)
Centrally cleared credit default swaps on credit indices—Sell Protection(2):
CDX.NA.HY.30.V1		06/20/23		5.000%(Q)		36,000	$	2,261,711		$	2,699,940		$	438,229
CDX.NA.IG.30.V1		06/20/23		1.000%(Q)		17,120		309,374			337,275			27,901
iTraxx.XO.28.V1		12/20/22		5.000%(Q)	EUR	17,000		2,273,634			2,456,199			182,565
iTraxx.XO.29.V1		06/20/23		5.000%(Q)	EUR	16,000		2,016,752			2,170,611			153,859
							$	6,861,471		$	7,664,025		$	802,554

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Fair Value(4)			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)		Counterparty
OTC credit default swaps on credit indices—Sell Protection(2):
CDX.EM.27.V1		06/20/22		1.000%(Q)		10,670	$	(12,108	)	$	(459,877	)	$	447,769	Citigroup Global Markets
CMBX.NA.6.AA		05/11/63		1.500%(M)		5,000		33,700			(28,411	)		62,111	JPMorgan Chase
							$	21,592		$	(488,288	)	$	509,880

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 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.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 77

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

(3) Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) The fair value of credit default swap agreements on credit indices and asset-backed securities 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.

(5) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements on corporate issues or sovereign issues of an emerging country 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.

* Fair value of credit default swap agreement is based on price obtained from independent pricing service which used information provided by market dealers. No implied credit spread is utilized in determining such fair value.

Currency swap agreements outstanding at April 30, 2018:

Notional Amount (000)#	Fund Receives	Notional Amount (000)#		Fund Pays	Counterparty	Termination Date		Fair Value			Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
OTC currency swap agreements:
885	3 Month LIBOR plus 62.75 bps (Q)	JPY	100,000	0.07%(S)	Citigroup Global Markets		09/07/21	$	(24,884	)	$	—	$	(24,884	)
2,612	3 Month LIBOR(Q)	CAD	3,460	3 Month Canadian Banker’s Acceptance minus 16.25 bps(Q)	Goldman Sachs & Co.		10/17/18		(82,276	)		—		(82,276	)
								$	(107,160	)	$	—	$	(107,160	)

Inflation Swap Agreements outstanding at April 30, 2018:

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date		Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements:
EUR	3,590		08/15/22		1.240%(T)	Eurostat Eurozone HICP ex Tobacco(2)(T)	$	—	$	(42,114	)	$	(42,114	)
EUR	5,210		09/15/22		1.260%(T)	Eurostat Eurozone HICP ex Tobacco(2)(T)		—		(58,089	)		(58,089	)
EUR	17,225		03/15/23		1.345%(T)	Eurostat Eurozone HICP ex Tobacco(2)(T)		—		(78,484	)		(78,484	)
EUR	1,800		08/15/27		1.415%(T)	Eurostat Eurozone HICP ex Tobacco(1)(T)		—		29,692			29,692
EUR	2,535		09/15/27		1.438%(T)	Eurostat Eurozone HICP ex Tobacco(1)(T)		—		37,052			37,052
EUR	8,525		03/15/28		1.512%(T)	Eurostat Eurozone HICP ex Tobacco(1)(T)		—		48,501			48,501
GBP	3,590		04/15/27		3.460%(T)	U.K. Retail Price Index(1)(T)		—		(85,407	)		(85,407	)

See Notes to Financial Statements.

78

Inflation Swap Agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate			Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d):
GBP	1,490		04/15/37		3.570%(T)		U.K. Retail Price Index(2)(T)	$	—		$	82,683		$	82,683
GBP	1,460		08/15/42		3.520%(T)	��	U.K. Retail Price Index(2)(T)		(4,364	)		54,875			59,239
GBP	615		08/15/47		3.469%(T)		U.K. Retail Price Index(1)(T)		—			(25,143	)		(25,143	)
GBP	210		10/15/47		3.535%(T)		U.K. Retail Price Index(2)(T)		—			22,232			22,232
GBP	300		08/15/57		3.363%(T)		U.K. Retail Price Index(1)(T)		—			(31,711	)		(31,711	)
GBP	130		10/15/57		3.418%(T)		U.K. Retail Price Index(1)(T)		—			(25,251	)		(25,251	)
	6,000		10/25/27		2.160%(T)		U.S. CPI Urban Consumers NSA Index(2)(T)		(36,000	)		(147,092	)		(111,092	)
								$	(40,364	)	$	(218,256	)	$	(177,892	)

(1) The Fund pays the fixed rate and receives the floating rate.

(2) The Fund pays the floating rate and receives the fixed rate.

Interest rate swap agreements outstanding at April 30, 2018:

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements:
AUD	2,240		10/27/21		2.173%(S)	6 Month BBSW(2)(S)	$	(230	)	$	(16,257	)	$	(16,027	)
AUD	4,000		09/21/22		3.830%(S)	6 Month BBSW(2)(S)		(72,198	)		167,732			239,930
AUD	7,580		09/25/22		2.958%(S)	6 Month BBSW(2)(S)		—			12,234			12,234
AUD	29,240		03/07/23		2.600%(S)	6 Month BBSW(1)(S)		(13,454	)		(29,893	)		(16,439	)
AUD	1,000		05/02/26		2.650%(S)	6 Month BBSW(2)(S)		120			(7,091	)		(7,211	)
AUD	2,700		06/06/27		2.661%(S)	3 Month BBSW(2)(S)		—			(31,951	)		(31,951	)
AUD	5,835		07/19/32		3.130%(S)	6 Month BBSW(2)(S)		—			31,975			31,975
AUD	1,600		07/28/32		3.137%(S)	6 Month BBSW(2)(S)		—			9,722			9,722
AUD	2,000		12/19/32		4.423%(S)	6 Month BBSW(2)(S)		(5,183	)		256,833			262,016
BRL	21,968		01/04/21		7.910%(T)	1 Day BROIS(2)(T)		—			11,627			11,627
BRL	44,920		01/04/21		9.470%(T)	1 Day BROIS(1)(T)		—			(801,206	)		(801,206	)
BRL	38,848		01/04/21		10.050%(T)	1 Day BROIS(2)(T)		—			897,766			897,766
BRL	44,455		01/04/21		11.180%(T)	1 Day BROIS(2)(T)		—			1,598,200			1,598,200
BRL	5,231		01/02/23		10.400%(T)	1 Day BROIS(2)(T)		—			138,794			138,794
BRL	5,783		01/02/23		10.470%(T)	1 Day BROIS(2)(T)		—			160,811			160,811
BRL	26,379		01/02/25		9.475%(T)	1 Day BROIS(2)(T)		—			(13,351	)		(13,351	)
BRL	25,280		01/02/25		9.560%(T)	1 Day BROIS(2)(T)		—			38,006			38,006
BRL	31,910		01/02/25		9.943%(T)	1 Day BROIS(2)(T)		—			375,903			375,903
BRL	7,002		01/02/25		9.985%(T)	1 Day BROIS(2)(T)		—			120,415			120,415
BRL	18,750		01/02/25		10.040%(T)	1 Day BROIS(2)(T)		—			348,677			348,677
CAD	22,000		10/19/18		0.955%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		152			(74,962	)		(75,114	)
CAD	41,460		10/26/18		0.910%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		171			(149,221	)		(149,392	)

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 79

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d):
CAD	31,070		12/22/18		1.180%(S)	3 Month Canadian Banker’s Acceptance(2)(S)	$	33,376		$	(141,422	)	$	(174,798	)
CAD	15,000		02/08/19		1.070%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		140			(92,603	)		(92,743	)
CAD	134,535		07/26/19		1.605%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		(214,184	)		(618,194	)		(404,010	)
CAD	28,155		01/09/20		1.716%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		(66,077	)		(166,100	)		(100,023	)
CAD	3,550		03/07/21		0.983%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		124			(109,082	)		(109,206	)
CAD	20,550		12/22/21		1.560%(S)	3 Month Canadian Banker’s Acceptance(1)(S)		(63,051	)		495,455			558,506
CAD	7,930		04/05/22		1.445%(S)	3 Month Canadian Banker’s Acceptance(1)(S)		—			238,799			238,799
CAD	4,200		08/17/22		2.370%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		(22,600	)		(10,216	)		12,384
CAD	54,950		03/22/23		2.480%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		(74,039	)		(24,918	)		49,121
CAD	1,500		04/22/26		1.670%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		127			(80,210	)		(80,337	)
CAD	3,070		06/25/30		2.651%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		83,226			(9,651	)		(92,877	)
CAD	4,325		03/26/33		2.718%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		(92	)		(19,824	)		(19,732	)
CAD	1,500		05/30/37		2.240%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		(41	)		(97,982	)		(97,941	)
CAD	2,165		01/09/38		2.720%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		—			(16,593	)		(16,593	)
CAD	1,495		05/30/47		2.240%(S)	3 Month Canadian Banker’s Acceptance(2)(S)		(118,690	)		(121,354	)		(2,664	)
CAD	1,732		01/09/48		2.640%(S)	3 Month Canadian Banker’s Acceptance(1)(S)		—			31,743			31,743
CHF	2,400		10/21/21		(0.522%)(A)	6 Month CHF LIBOR(2)(S)		162			(32,366	)		(32,528	)
CHF	37,090		02/23/23		0.040%(A)	6 Month CHF LIBOR(2)(S)		131,440			157,663			26,223
CHF	800		10/17/31		0.033%(A)	6 Month CHF LIBOR(2)(S)		163			(71,310	)		(71,473	)
CHF	700		04/03/33		0.687%(A)	6 Month CHF LIBOR(2)(S)		—			(6,962	)		(6,962	)
CHF	6,230		10/05/37		—(5)	—(5)		—			(2,132	)		(2,132	)
CZK	725,400		04/24/20		1.198%(A)	3 Month PRIBOR(1)(Q)		(6,133	)		(32,743	)		(26,610	)
CZK	171,000		01/06/22		0.555%(A)	6 Month PRIBOR(2)(S)		33			(272,109	)		(272,142	)
CZK	34,000		01/23/22		0.513%(A)	6 Month PRIBOR(2)(S)		13			(57,679	)		(57,692	)
CZK	213,000		04/27/22		0.925%(A)	6 Month PRIBOR(2)(S)		—			(228,016	)		(228,016	)
CZK	193,410		06/29/22		0.895%(A)	6 Month PRIBOR(2)(S)		—			(189,798	)		(189,798	)
CZK	250,000		11/17/22		1.505%(A)	6 Month PRIBOR(2)(S)		—			8,086			8,086
CZK	108,675		04/27/27		1.300%(A)	6 Month PRIBOR(1)(S)		—			197,749			197,749
CZK	98,760		06/29/27		1.175%(A)	6 Month PRIBOR(1)(S)		—			201,664			201,664
DKK	15,000		01/27/20		0.385%(A)	6 Month CIBOR(2)(S)		30			21,705			21,675
DKK	20,900		10/17/21		0.185%(A)	6 Month CIBOR(2)(S)		(59,047	)		(6,461	)		52,586
DKK	13,600		05/04/25		0.825%(A)	6 Month CIBOR(2)(S)		38			17,793			17,755
DKK	5,000		08/29/26		0.580%(A)	6 Month CIBOR(2)(S)		28			(23,976	)		(24,004	)
DKK	1,300		10/21/26		0.673%(A)	6 Month CIBOR(2)(S)		23			(5,160	)		(5,183	)
DKK	13,000		03/15/27		1.123%(A)	6 Month CIBOR(2)(S)		—			15,485			15,485
DKK	1,865		06/22/27		0.987%(A)	6 Month CIBOR(2)(S)		—			102			102
EUR	2,300		09/01/18		0.174%(A)	6 Month EURIBOR(2)(S)		174			8,728			8,554
EUR	4,000		10/26/18		(0.189%)(A)	6 Month EURIBOR(2)(S)		173			(2,490	)		(2,663	)
EUR	830		07/02/19		0.656%(A)	6 Month EURIBOR(2)(S)		171			16,959			16,788
EUR	26,226		09/08/19		(0.195%)(A)	6 Month EURIBOR(2)(S)		—			(11,410	)		(11,410	)

See Notes to Financial Statements.

80

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
EUR	1,000		05/29/20		0.373%(A)	6 Month EURIBOR(2)(S)	$	171		$	18,273		$	18,102
EUR	610		07/02/21		0.994%(A)	6 Month EURIBOR(2)(S)		170			28,465			28,295
EUR	700		08/14/21		0.841%(A)	3 Month EURIBOR(2)(Q)		172			28,911			28,739
EUR	650		03/02/22		0.072%(A)	6 Month EURIBOR(2)(S)		(63,289	)		(3,170	)		60,119
EUR	8,200		06/29/22		0.219%(A)	6 Month EURIBOR(1)(S)		—			(14,565	)		(14,565	)
EUR	21,000		09/08/22		0.140%(A)	6 Month EURIBOR(1)(S)		—			125,553			125,553
EUR	16,635		11/23/22		0.197%(A)	6 Month EURIBOR(1)(S)		10,787			69,936			59,149
EUR	1,410		05/12/25		0.895%(A)	6 Month EURIBOR(2)(S)		184			43,081			42,897
EUR	17,940		08/15/25		0.395%(A)	6 Month EURIBOR(1)(S)		308			414,518			414,210
EUR	5,339		09/08/27		0.770%(A)	6 Month EURIBOR(2)(S)		—			(61,626	)		(61,626	)
EUR	2,000		03/04/29		2.302%(A)	6 Month EURIBOR(2)(S)		245,068			323,720			78,652
EUR	1,000		06/04/29		2.002%(A)	6 Month EURIBOR(2)(S)		177			142,004			141,827
EUR	1,360		11/11/29		1.453%(A)	6 Month EURIBOR(2)(S)		174			74,126			73,952
EUR	1,800		01/14/30		1.022%(A)	6 Month EURIBOR(2)(S)		180			(18,962	)		(19,142	)
EUR	2,000		03/02/31		0.825%(A)	6 Month EURIBOR(2)(S)		(76,215	)		(109,854	)		(33,639	)
EUR	700		04/07/31		0.819%(A)	6 Month EURIBOR(2)(S)		178			(40,918	)		(41,096	)
EUR	450		05/03/31		1.048%(A)	6 Month EURIBOR(2)(S)		179			(5,301	)		(5,480	)
EUR	1,500		07/04/31		0.672%(A)	6 Month EURIBOR(2)(S)		182			(115,556	)		(115,738	)
EUR	570		08/02/31		0.584%(A)	6 Month EURIBOR(2)(S)		173			(53,235	)		(53,408	)
EUR	1,500		08/26/31		0.562%(A)	6 Month EURIBOR(2)(S)		184			(148,080	)		(148,264	)
EUR	700		09/09/31		0.558%(A)	6 Month EURIBOR(2)(S)		176			(70,184	)		(70,360	)
EUR	600		10/04/31		0.593%(A)	6 Month EURIBOR(2)(S)		175			(57,959	)		(58,134	)
EUR	1,700		12/14/31		1.217%(A)	6 Month EURIBOR(2)(S)		176			660			484
EUR	1,850		12/19/31		1.160%(A)	6 Month EURIBOR(2)(S)		565			(17,006	)		(17,571	)
EUR	2,300		12/19/31		1.161%(A)	6 Month EURIBOR(2)(S)		(14,197	)		(19,785	)		(5,588	)
EUR	2,600		12/27/31		1.082%(A)	6 Month EURIBOR(2)(S)		13,245			(58,212	)		(71,457	)
EUR	6,400		02/23/32		1.180%(A)	6 Month EURIBOR(2)(S)		220			(69,793	)		(70,013	)
EUR	4,680		03/29/32		1.170%(A)	6 Month EURIBOR(2)(S)		1,893			(70,416	)		(72,309	)
EUR	1,400		04/04/32		1.145%(A)	6 Month EURIBOR(2)(S)		—			(27,462	)		(27,462	)
EUR	2,000		04/10/32		1.105%(A)	6 Month EURIBOR(2)(S)		—			(52,854	)		(52,854	)
EUR	4,150		05/11/32		1.100%(A)	6 Month EURIBOR(2)(S)		(101,776	)		(60,216	)		41,560
EUR	7,000		06/28/32		0.785%(A)	6 Month EURIBOR(2)(S)		(68,585	)		(505,697	)		(437,112	)
EUR	6,200		10/04/32		2.000%(A)	1 Day EONIA(2)(A)		—			34,063			34,063
EUR	6,200		10/04/32		2.080%(A)	3 Month EURIBOR(1)(Q)		—			(39,005	)		(39,005	)
EUR	3,050		10/30/32		1.302%(A)	6 Month EURIBOR(2)(S)		—			22,363			22,363
EUR	3,500		05/11/33		1.000%(A)	6 Month EURIBOR(2)(S)		(155,995	)		(151,172	)		4,823
EUR	410		05/11/35		1.050%(A)	6 Month EURIBOR(1)(S)		26,513			22,416			(4,097	)
EUR	3,135		12/28/35		1.559%(A)	6 Month EURIBOR(2)(S)		48,090			102,411			54,321
EUR	700		06/02/36		1.072%(A)	6 Month EURIBOR(2)(S)		180			(42,793	)		(42,973	)
EUR	600		09/26/36		0.749%(A)	6 Month EURIBOR(2)(S)		177			(82,167	)		(82,344	)
EUR	600		09/28/36		0.729%(A)	6 Month EURIBOR(2)(S)		178			(84,787	)		(84,965	)

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 81

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
EUR	1,000		11/02/36		0.958%(A)	6 Month EURIBOR(2)(S)	$	180		$	(93,754	)	$	(93,934	)
EUR	1,500		02/02/37		1.355%(A)	6 Month EURIBOR(2)(S)		188			(25,192	)		(25,380	)
EUR	23,700		08/24/37		1.960%(A)	1 Day EONIA(2)(A)		—			110,001			110,001
EUR	23,700		08/24/37		2.033%(A)	3 Month EURIBOR(1)(Q)		(6,141	)		(125,102	)		(118,961	)
EUR	6,720		10/25/37		2.085%(A)	3 Month EURIBOR(2)(Q)		—			49,388			49,388
EUR	6,720		10/25/37		2.114%(A)	6 Month EURIBOR(1)(S)		—			(36,374	)		(36,374	)
EUR	3,190		05/11/42		1.350%(A)	6 Month EURIBOR(2)(S)		(188,099	)		(80,345	)		107,754
EUR	1,235		07/04/42		1.001%(A)	6 Month EURIBOR(2)(S)		(143,527	)		(149,017	)		(5,490	)
EUR	1,530		12/05/47		1.442%(A)	6 Month EURIBOR(1)(S)		—			27,917			27,917
EUR	7,380		01/26/48		1.853%(A)	3 Month EURIBOR(2)(Q)		—			61,612			61,612
EUR	7,380		01/26/48		1.863%(A)	6 Month EURIBOR(1)(Q)		—			(59,740	)		(59,740	)
EUR	5,000		03/19/48		1.650%(A)	3 Month EURIBOR(2)(Q)		—			(1,816	)		(1,816	)
EUR	5,000		03/19/48		1.658%(A)	6 Month EURIBOR(1)(S)		—			1,043			1,043
GBP	690		06/30/19		2.166%(S)	6 Month GBP LIBOR(2)(S)		203			18,967			18,764
GBP	850		08/04/19		0.109%(A)	1 Day SONIA(1)(A)		199			11,225			11,026
GBP	1,500		03/02/20		0.338%(A)	1 Day SONIA(1)(A)		—			17,069			17,069
GBP	510		06/30/21		2.469%(S)	6 Month GBP LIBOR(2)(S)		203			32,399			32,196
GBP	2,260		05/15/24		0.963%(S)	6 Month GBP LIBOR(1)(S)		(13,128	)		76,234			89,362
GBP	4,100		09/07/25		1.075%(S)	6 Month GBP LIBOR(1)(S)		198			152,698			152,500
GBP	2,580		12/13/26		1.383%(S)	6 Month GBP LIBOR(1)(S)		214			28,462			28,248
GBP	10,145		12/07/27		1.364%(A)	1 Day SONIA(1)(A)		(12,505	)		(158,515	)		(146,010	)
GBP	10,740		06/23/31		1.618%(S)	6 Month GBP LIBOR(2)(S)		369			21,361			20,992
GBP	4,430		12/21/31		1.534%(S)	6 Month GBP LIBOR(2)(S)		235			(63,294	)		(63,529	)
GBP	2,100		12/22/31		1.533%(S)	6 Month GBP LIBOR(2)(S)		3,696			(30,479	)		(34,175	)
GBP	2,780		02/27/32		1.374%(S)	6 Month GBP LIBOR(2)(S)		16,473			(128,154	)		(144,627	)
GBP	7,960		05/08/32		1.323%(S)	6 Month GBP LIBOR(2)(S)		(298,360	)		(425,289	)		(126,929	)
GBP	3,500		05/15/32		1.398%(S)	6 Month GBP LIBOR(2)(S)		20,278			(140,029	)		(160,307	)
GBP	8,500		10/30/32		1.633%(S)	6 Month GBP LIBOR(2)(S)		(19,196	)		(37,257	)		(18,061	)
GBP	1,000		04/21/36		1.787%(S)	6 Month GBP LIBOR(2)(S)		87,073			23,051			(64,022	)
GBP	3,620		12/13/36		1.644%(S)	6 Month GBP LIBOR(2)(S)		43,693			(12,822	)		(56,515	)
GBP	1,500		05/08/37		1.450%(S)	6 Month GBP LIBOR(2)(S)		(79	)		(73,753	)		(73,674	)
GBP	3,810		06/23/46		1.626%(S)	6 Month GBP LIBOR(1)(S)		244			27,533			27,289
GBP	1,010		12/13/46		1.615%(S)	6 Month GBP LIBOR(1)(S)		213			10,479			10,266
GBP	9,670		12/21/46		1.551%(S)	6 Month GBP LIBOR(1)(S)		(33,189	)		306,861			340,050
GBP	2,320		05/08/47		1.400%(S)	6 Month GBP LIBOR(1)(S)		177,430			189,536			12,106
GBP	2,000		10/30/47		1.680%(S)	6 Month GBP LIBOR(1)(S)		(73,491	)		(13,848	)		59,643
HUF	3,735,010		05/04/21		1.080%(A)	6 Month BUBOR(1)(S)		—			(392,903	)		(392,903	)
HUF	623,000		12/23/21		1.153%(A)	6 Month BUBOR(1)(S)		9			(50,396	)		(50,405	)
HUF	3,017,210		05/04/22		1.360%(A)	6 Month BUBOR(2)(S)		—			423,980			423,980
HUF	375,000		09/09/23		1.365%(A)	6 Month BUBOR(2)(S)		(32,218	)		32,636			64,854

See Notes to Financial Statements.

82

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
HUF	370,000		03/18/26		2.140%(A)	6 Month BUBOR(2)(S)	$	16,300		$	55,582		$	39,282
HUF	1,667,000		12/23/26		3.755%(A)	6 Month BUBOR(2)(S)		41			305,245			305,204
HUF	900,000		04/18/28		2.035%(A)	6 Month BUBOR(2)(S)		—			(3,735	)		(3,735	)
INR	301,000		12/05/22		6.550%(S)	1 Day INOIS(2)(S)		—			(32,933	)		(32,933	)
JPY	32,800		07/04/21		(0.157%)(S)	6 Month JPY LIBOR(2)(S)		(15,013	)		(2,419	)		12,594
JPY	500,000		10/25/21		(0.047%)(S)	6 Month JPY LIBOR(2)(S)		21			(21,165	)		(21,186	)
JPY	320,000		01/29/22		0.316%(S)	6 Month JPY LIBOR(2)(S)		16			26,854			26,838
JPY	4,326,000		11/24/22		0.096%(S)	6 Month JPY LIBOR(1)(S)		14,140			15,950			1,810
JPY	102,400		10/25/23		(0.015%)(S)	6 Month JPY LIBOR(2)(S)		(87,717	)		(7,989	)		79,728
JPY	3,276,010		12/20/24		0.126%(S)	6 Month JPY LIBOR(2)(S)		(53,956	)		(96,498	)		(42,542	)
JPY	140,000		09/21/26		0.098%(S)	6 Month JPY LIBOR(2)(S)		(169,999	)		(15,961	)		154,038
JPY	135,000		04/25/27		0.221%(S)	6 Month JPY LIBOR(2)(S)		—			(5,531	)		(5,531	)
JPY	716,800		04/16/28		1.235%(S)	6 Month JPY LIBOR(2)(S)		(61,410	)		603,168			664,578
JPY	135,000		02/20/29		1.260%(S)	6 Month JPY LIBOR(2)(S)		49,802			123,802			74,000
JPY	50,000		04/02/29		1.288%(S)	6 Month JPY LIBOR(2)(S)		5			46,772			46,767
JPY	100,000		08/18/29		1.070%(S)	6 Month JPY LIBOR(2)(S)		10			73,641			73,631
JPY	100,000		08/28/29		1.043%(S)	6 Month JPY LIBOR(2)(S)		10			70,513			70,503
JPY	200,000		09/09/29		1.061%(S)	6 Month JPY LIBOR(2)(S)		(1,275	)		144,495			145,770
JPY	655,000		09/29/29		1.064%(S)	6 Month JPY LIBOR(2)(S)		411,209			471,960			60,751
JPY	200,000		04/01/31		0.319%(S)	6 Month JPY LIBOR(2)(S)		26			(28,954	)		(28,980	)
JPY	215,000		05/06/31		0.354%(S)	6 Month JPY LIBOR(2)(S)		28			(20,726	)		(20,754	)
JPY	150,000		07/07/31		0.071%(S)	6 Month JPY LIBOR(2)(S)		15			(68,814	)		(68,829	)
JPY	256,500		08/15/31		0.223%(S)	6 Month JPY LIBOR(2)(S)		24			(72,148	)		(72,172	)
JPY	130,000		08/30/31		0.217%(S)	6 Month JPY LIBOR(2)(S)		13			(37,946	)		(37,959	)
JPY	120,000		09/08/31		0.316%(S)	6 Month JPY LIBOR(2)(S)		12			(20,833	)		(20,845	)
JPY	190,000		09/21/31		0.328%(S)	6 Month JPY LIBOR(2)(S)		27			(31,043	)		(31,070	)
JPY	350,000		10/14/31		0.270%(S)	6 Month JPY LIBOR(2)(S)		47			(83,917	)		(83,964	)
JPY	200,000		04/06/32		0.484%(S)	6 Month JPY LIBOR(2)(S)		—			(326	)		(326	)
JPY	159,520		04/07/32		0.491%(S)	6 Month JPY LIBOR(2)(S)		—			1,137			1,137
JPY	140,000		06/07/32		0.451%(S)	6 Month JPY LIBOR(2)(S)		—			(5,597	)		(5,597	)
JPY	71,000		09/21/32		0.463%(S)	6 Month JPY LIBOR(2)(S)		—			(3,789	)		(3,789	)
JPY	160,000		11/14/32		2.390%(S)	6 Month JPY LIBOR(2)(S)		(26,599	)		243,590			270,189
JPY	180,000		11/05/34		1.293%(S)	6 Month JPY LIBOR(2)(S)		85,259			197,597			112,338
JPY	70,000		12/03/34		1.265%(S)	6 Month JPY LIBOR(2)(S)		9			73,234			73,225
JPY	260,000		01/07/35		1.108%(S)	6 Month JPY LIBOR(2)(S)		31			206,391			206,360
JPY	50,000		01/22/35		0.950%(S)	6 Month JPY LIBOR(2)(S)		7			27,231			27,224
JPY	120,000		02/12/35		1.161%(S)	6 Month JPY LIBOR(2)(S)		15			103,899			103,884
JPY	320,000		02/24/35		1.200%(S)	6 Month JPY LIBOR(2)(S)		40			294,940			294,900
JPY	160,000		03/03/35		1.153%(S)	6 Month JPY LIBOR(2)(S)		20			135,397			135,377
JPY	90,000		02/04/36		0.816%(S)	6 Month JPY LIBOR(2)(S)		11			26,979			26,968
JPY	65,000		05/16/36		0.446%(S)	6 Month JPY LIBOR(2)(S)		9			(20,070	)		(20,079	)

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 83

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
JPY	110,000		05/27/36		0.460%(S)	6 Month JPY LIBOR(2)(S)	$	18		$	(31,878	)	$	(31,896	)
JPY	60,000		07/22/36		0.240%(S)	6 Month JPY LIBOR(2)(S)		11			(40,333	)		(40,344	)
JPY	300,000		10/04/36		0.363%(S)	6 Month JPY LIBOR(2)(S)		42			(147,735	)		(147,777	)
JPY	150,000		11/02/36		0.423%(S)	6 Month JPY LIBOR(2)(S)		21			(57,313	)		(57,334	)
JPY	400,000		12/14/36		0.723%(S)	6 Month JPY LIBOR(2)(S)		49			45,550			45,501
JPY	150,000		12/22/36		0.641%(S)	6 Month JPY LIBOR(2)(S)		19			(4,052	)		(4,071	)
JPY	250,000		01/06/37		0.675%(S)	6 Month JPY LIBOR(2)(S)		30			6,445			6,415
JPY	275,500		02/15/37		0.729%(S)	6 Month JPY LIBOR(2)(S)		34			29,065			29,031
JPY	130,000		02/23/37		0.748%(S)	6 Month JPY LIBOR(2)(S)		17			17,625			17,608
JPY	100,000		03/02/37		0.686%(S)	6 Month JPY LIBOR(2)(S)		—			2,820			2,820
JPY	273,000		03/09/37		0.701%(S)	6 Month JPY LIBOR(2)(S)		15,040			13,994			(1,046	)
JPY	200,000		03/29/37		0.684%(S)	6 Month JPY LIBOR(2)(S)		—			3,092			3,092
JPY	94,310		05/08/37		0.623%(S)	6 Month JPY LIBOR(2)(S)		—			(6,916	)		(6,916	)
JPY	200,000		05/15/37		0.688%(S)	6 Month JPY LIBOR(2)(S)		—			7,714			7,714
JPY	150,000		06/02/37		0.640%(S)	6 Month JPY LIBOR(2)(S)		—			(7,724	)		(7,724	)
JPY	80,000		06/19/37		0.625%(S)	6 Month JPY LIBOR(2)(S)		—			(6,644	)		(6,644	)
JPY	82,000		06/21/37		0.628%(S)	6 Month JPY LIBOR(2)(S)		—			(6,519	)		(6,519	)
JPY	125,000		06/30/37		0.629%(S)	6 Month JPY LIBOR(2)(S)		—			(9,989	)		(9,989	)
JPY	105,000		07/04/37		0.659%(S)	6 Month JPY LIBOR(2)(S)		—			(3,077	)		(3,077	)
JPY	285,000		07/26/37		0.676%(S)	6 Month JPY LIBOR(2)(S)		—			(1,751	)		(1,751	)
JPY	117,300		08/02/37		0.683%(S)	6 Month JPY LIBOR(2)(S)		—			460			460
JPY	160,000		08/09/37		0.679%(S)	6 Month JPY LIBOR(2)(S)		—			(824	)		(824	)
JPY	500,000		09/04/37		0.663%(S)	6 Month JPY LIBOR(2)(S)		—			(20,572	)		(20,572	)
JPY	175,000		09/27/37		0.670%(S)	6 Month JPY LIBOR(2)(S)		—			(6,255	)		(6,255	)
JPY	300,000		11/02/37		0.734%(S)	6 Month JPY LIBOR(2)(S)		—			28,993			28,993
JPY	350,000		12/04/37		0.730%(S)	6 Month JPY LIBOR(2)(S)		—			27,749			27,749
JPY	570,000		01/04/38		0.757%(S)	6 Month JPY LIBOR(2)(S)		—			66,327			66,327
JPY	224,000		01/11/38		0.831%(S)	6 Month JPY LIBOR(2)(S)		—			53,842			53,842
JPY	800,000		03/28/38		0.656%(S)	6 Month JPY LIBOR(2)(S)		—			(70,402	)		(70,402	)
JPY	1,000,000		04/04/38		0.681%(S)	6 Month JPY LIBOR(2)(S)		—			(47,285	)		(47,285	)
JPY	675,000		04/06/38		0.655%(S)	6 Month JPY LIBOR(2)(S)		—			(62,895	)		(62,895	)
JPY	1,815,000		04/18/38		0.675%(S)	6 Month JPY LIBOR(2)(S)		(49,290	)		(111,375	)		(62,085	)
JPY	60,000		06/17/41		0.318%(S)	6 Month JPY LIBOR(2)(S)		11			(56,996	)		(57,007	)
JPY	100,000		07/07/41		0.187%(S)	6 Month JPY LIBOR(2)(S)		17			(122,615	)		(122,632	)
JPY	61,000		10/04/42		0.853%(S)	6 Month JPY LIBOR(2)(S)		—			5,370			5,370
JPY	110,291		04/15/46		0.560%(S)	6 Month JPY LIBOR(2)(S)		—			(82,003	)		(82,003	)
JPY	26,000		10/04/47		0.942%(S)	6 Month JPY LIBOR(2)(S)		—			3,757			3,757
JPY	560,000		11/24/47		0.888%(S)	6 Month JPY LIBOR(2)(S)		—			17,480			17,480
MXN	27,400		12/27/24		5.795%(M)	28 Day Mexican Interbank Rate(2)(M)		21			(139,293	)		(139,314	)
MXN	92,000		10/15/26		6.445%(M)	28 Day Mexican Interbank Rate(2)(M)		47			(395,765	)		(395,812	)
MXN	20,000		06/11/27		7.210%(M)	28 Day Mexican Interbank Rate(2)(M)		—			(37,664	)		(37,664	)

See Notes to Financial Statements.

84

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
MXN	95,500		10/12/27		7.350%(M)	28 Day Mexican Interbank Rate(2)(M)	$	—		$	(143,244	)	$	(143,244	)
MXN	64,515		10/28/27		7.430%(M)	28 Day Mexican Interbank Rate(2)(M)		—			(77,658	)		(77,658	)
NOK	796,200		11/23/22		1.373%(A)	6 Month NIBOR(2)(S)		(1,043,858	)		(1,849,563	)		(805,705	)
NOK	29,500		02/23/23		1.350%(A)	6 Month NIBOR(2)(S)		(3,643	)		(87,725	)		(84,082	)
NOK	26,300		03/15/27		2.103%(A)	6 Month NIBOR(2)(S)		18,690			(21,997	)		(40,687	)
NOK	6,725		06/23/27		1.825%(A)	6 Month NIBOR(2)(S)		—			(16,592	)		(16,592	)
NOK	20,000		04/18/28		2.215%(A)	6 Month NIBOR(2)(S)		—			(8,914	)		(8,914	)
NZD	35,000		09/22/18		2.048%(S)	3 Month BBR(2)(Q)		167			(3,331	)		(3,498	)
NZD	2,600		03/13/19		4.550%(S)	3 Month BBR(2)(Q)		—			44,572			44,572
NZD	8,700		05/01/20		3.628%(S)	3 Month BBR(2)(Q)		214,368			244,072			29,704
NZD	1,235		10/03/22		2.740%(S)	3 Month BBR(2)(Q)		—			3,651			3,651
NZD	2,830		04/26/23		2.733%(S)	3 Month BBR(2)(Q)		(67,254	)		337			67,591
NZD	1,750		03/13/24		5.080%(S)	3 Month BBR(2)(Q)		28,107			154,507			126,400
NZD	2,500		03/15/24		3.355%(S)	3 Month BBR(2)(Q)		2,492			52,209			49,717
NZD	1,550		07/04/24		3.100%(S)	3 Month BBR(2)(Q)		—			23,058			23,058
NZD	3,500		01/10/27		3.420%(S)	3 Month BBR(2)(Q)		73,670			80,482			6,812
NZD	5,000		04/18/28		3.193%(S)	3 Month BBR(2)(Q)		—			(4,077	)		(4,077	)
PLN	15,000		10/17/21		2.070%(A)	6 Month WIBOR(2)(S)		59			37,497			37,438
PLN	9,000		02/13/22		1.990%(A)	6 Month WIBOR(2)(S)		51			(16,119	)		(16,170	)
PLN	6,000		03/15/22		2.530%(A)	6 Month WIBOR(2)(S)		—			23,326			23,326
PLN	5,450		06/13/22		2.220%(A)	6 Month WIBOR(2)(S)		403			19,345			18,942
PLN	4,000		03/14/23		3.810%(A)	6 Month WIBOR(2)(S)		65,345			79,070			13,725
PLN	11,000		09/09/23		1.900%(A)	6 Month WIBOR(2)(S)		(435,493	)		(51,829	)		383,664
PLN	30,000		03/28/28		2.895%(A)	6 Month WIBOR(2)(S)		—			41,962			41,962
SEK	20,000		01/20/20		0.485%(A)	3 Month STIBOR(2)(Q)		28			31,457			31,429
SEK	95,040		05/04/21		0.106%(A)	3 Month STIBOR(2)(Q)		—			33,776			33,776
SEK	13,000		09/15/21		(0.003%)(A)	3 Month STIBOR(2)(Q)		26			(7,295	)		(7,321	)
SEK	27,200		12/15/21		0.203%(A)	3 Month STIBOR(2)(Q)		(607	)		2,380			2,987
SEK	76,020		05/04/22		0.305%(A)	3 Month STIBOR(1)(Q)		—			(34,028	)		(34,028	)
SEK	359,000		02/23/23		0.575%(A)	3 Month STIBOR(1)(Q)		(99,636	)		(255,772	)		(156,136	)
SEK	12,700		04/25/23		0.750%(A)	3 Month STIBOR(2)(Q)		30			16,765			16,735
SEK	15,550		03/15/24		0.840%(A)	3 Month STIBOR(2)(Q)		—			18,617			18,617
SEK	12,700		08/29/24		1.657%(A)	3 Month STIBOR(2)(Q)		22,804			97,788			74,984
SEK	3,000		11/16/25		1.485%(A)	3 Month STIBOR(2)(Q)		20			15,954			15,934
SEK	6,000		12/09/25		1.505%(A)	3 Month STIBOR(2)(Q)		23			31,976			31,953
SEK	15,000		06/27/26		1.001%(A)	3 Month STIBOR(2)(Q)		33			9,608			9,575
SEK	15,390		06/22/27		1.031%(A)	3 Month STIBOR(2)(Q)		—			(3,471	)		(3,471	)
SEK	58,000		03/27/28		1.267%(A)	3 Month STIBOR(2)(Q)		—			28,385			28,385
SGD	15,540		05/21/23		2.030%(S)	6 Month SIBOR(1)(S)		—			188,366			188,366
SGD	8,330		05/21/28		2.436%(S)	6 Month SIBOR(2)(S)		—			(130,401	)		(130,401	)
	43,000		09/30/18		0.655%(A)	1 Day USOIS(1)(A)		248			367,543			367,295

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 85

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
	25,300		09/30/18		0.747%(A)	1 Day USOIS(1)(A)	$	207		$	192,825		$	192,618
	12,810		10/07/18		1.253%(A)	1 Day USOIS(1)(A)		—			36,838			36,838
	29,280		11/17/18		1.080%(T)	1 Day USOIS(1)(T)		216			170,069			169,853
	44,020		11/18/18		0.911%(A)	1 Day USOIS(1)(A)		(2,127	)		330,289			332,416
	660,470		01/30/19		2.135%(T)	1 Day USOIS(1)(T)		—			87,238			87,238
	104,710		02/15/19		1.820%(T)	1 Day USOIS(1)(T)		—			102,718			102,718
	324,490		03/15/19		2.270%(S)	3 Month LIBOR(1)(Q)		105,711			553,742			448,031
	12,032		03/31/19		1.431%(A)	1 Day USOIS(1)(A)		—			72,914			72,914
	12,038		03/31/19		1.432%(A)	1 Day USOIS(1)(A)		—			72,861			72,861
	33,710		06/30/19		1.479%(A)	1 Day USOIS(1)(A)		—			229,851			229,851
	7,950		06/30/19		1.487%(A)	1 Day USOIS(1)(A)		—			52,644			52,644
	31,615		06/30/19		1.502%(A)	1 Day USOIS(1)(A)		(16,170	)		200,664			216,834
	19,860		09/08/19		1.290%(A)	1 Day USOIS(1)(A)		—			237,093			237,093
	69,545		09/30/19		1.707%(A)	1 Day USOIS(1)(A)		19,344			430,846			411,502
	143,360		12/31/19		1.840%(A)	1 Day USOIS(1)(A)		137,269			1,014,334			877,065
	82,895		12/31/19		1.950%(A)	1 Day USOIS(1)(A)		26,216			429,825			403,609
	65,165		12/31/19		2.040%(A)	1 Day USOIS(1)(A)		733			236,862			236,129
	75,290		12/31/19		2.107%(A)	1 Day USOIS(1)(A)		(129	)		(23,364	)		(23,235	)
	48,465		03/08/20		2.157%(A)	1 Day USOIS(2)(A)		—			97,774			97,774
	51,335		03/15/20		2.500%(S)	3 Month LIBOR(2)(Q)		(25,526	)		(180,080	)		(154,554	)
	7,375		03/28/20		2.190%(A)	1 Day USOIS(1)(A)		(379	)		15,527			15,906
	125,670		03/31/20		2.295%(A)	1 Day USOIS(2)(A)		34,188			181,797			147,609
	41,940		04/24/20		2.311%(A)	1 Day USOIS(1)(A)		—			17,422			17,422
	103,630		03/15/21		2.630%(S)	3 Month LIBOR(2)(Q)		(62,993	)		(505,171	)		(442,178	)
	14,550		08/31/21		2.015%(S)	3 Month LIBOR(2)(Q)		119,498			(390,117	)		(509,615	)
	22,275		11/30/21		1.762%(S)	3 Month LIBOR(2)(Q)		—			(750,934	)		(750,934	)
	52,295		03/15/22		2.700%(S)	3 Month LIBOR(2)(Q)		(47,497	)		(290,876	)		(243,379	)
	20,575		05/31/22		2.353%(A)	1 Day USOIS(1)(A)		—			100,152			100,152
	36,820		06/16/22		—(4)	—(4)		—			(219,370	)		(219,370	)
	114,285		08/31/22		2.550%(A)	1 Day USOIS(2)(A)		—			—			—
	15,740		11/01/22		1.815%(S)	3 Month LIBOR(2)(Q)		—			(646,025	)		(646,025	)
	10,570		03/15/23		2.750%(S)	3 Month LIBOR(2)(Q)		10,474			(61,444	)		(71,918	)
	40,810		03/15/23		2.786%(S)	3 Month LIBOR(1)(Q)		40,006			168,879			128,873
	15,410		03/26/23		2.791%(S)	3 Month LIBOR(2)(Q)		(1,880	)		(69,340	)		(67,460	)
	10,000		04/05/23		1.427%(S)	3 Month LIBOR(1)(Q)		223			687,070			686,847
	15,835		05/31/23		1.578%(S)	3 Month LIBOR(1)(Q)		(30,326	)		943,010			973,336
	20,020		08/15/23		1.365%(S)	3 Month LIBOR(1)(Q)		259			1,540,506			1,540,247
	2,625		08/15/23		1.406%(S)	3 Month LIBOR(1)(Q)		164			196,458			196,294
	12,500		08/15/23		1.422%(S)	3 Month LIBOR(1)(Q)		218			925,365			925,147
	9,545		08/15/23		1.459%(S)	3 Month LIBOR(1)(Q)		453,056			688,595			235,539
	27,780		11/15/23		2.209%(S)	3 Month LIBOR(1)(Q)		302			826,034			825,732

See Notes to Financial Statements.

86

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
	39,730		02/15/24		2.167%(S)	3 Month LIBOR(1)(Q)	$	—		$	1,569,038		$	1,569,038
	41,965		02/15/24		2.183%(S)	3 Month LIBOR(1)(Q)		(61,081	)		1,608,295			1,669,376
	9,950		08/15/24		2.168%(S)	3 Month LIBOR(1)(Q)		—			426,963			426,963
	79,885		08/15/24		2.170%(S)	3 Month LIBOR(1)(Q)		239,360			3,419,938			3,180,578
	30,545		08/15/24		2.176%(S)	3 Month LIBOR(1)(Q)		100,339			1,297,437			1,197,098
	62,410		11/15/24		2.334%(S)	3 Month LIBOR(1)(Q)		203,394			2,217,138			2,013,744
	15,400		02/14/25		—(3)	—(3)		—			12,884			12,884
	27,885		02/28/25		2.454%(A)	1 Day USOIS(1)(A)		31,281			163,808			132,527
	22,935		02/28/25		3.020%(S)	3 Month LIBOR(1)(Q)		—			(104,404	)		(104,404	)
	23,110		03/15/25		2.840%(S)	3 Month LIBOR(1)(Q)		17,614			105,187			87,573
	1,170		01/08/26		2.210%(S)	3 Month LIBOR(1)(Q)		46,093			53,126			7,033
	13,586		02/15/27		1.824%(A)	1 Day USOIS(1)(A)		138,472			762,748			624,276
	4,710		02/15/27		1.899%(A)	1 Day USOIS(1)(A)		22,823			235,497			212,674
	3,045		02/15/27		1.965%(A)	1 Day USOIS(1)(A)		—			135,967			135,967
	11,425		02/15/27		2.068%(A)	1 Day USOIS(1)(A)		(6,540	)		414,694			421,234
	3,560		05/15/27		1.823%(A)	1 Day USOIS(1)(A)		—			203,697			203,697
	6,645		05/15/27		2.295%(S)	3 Month LIBOR(1)(Q)		(19,143	)		326,184			345,327
	33,520		03/15/28		2.920%(S)	3 Month LIBOR(1)(Q)		(106,683	)		91,980			198,663
	16,435		03/26/28		2.884%(S)	3 Months LIBOR(1)(Q)		3,774			107,379			103,605
	6,140		05/21/28		2.421%(S)	3 Month LIBOR(1)(Q)		—			296,913			296,913
	7,225		05/03/32		2.434%(S)	3 Month LIBOR(2)(Q)		—			(427,467	)		(427,467	)
	5,840		03/26/33		2.942%(S)	3 Month LIBOR(2)(Q)		(1,895	)		(45,743	)		(43,848	)
	14,470		02/15/36		2.338%(S)	3 Month LIBOR(2)(Q)		(95,758	)		(1,388,305	)		(1,292,547	)
	5,715		05/03/37		2.508%(S)	3 Month LIBOR(1)(Q)		—			393,952			393,952
	2,660		03/15/38		3.010%(S)	3 Month LIBOR(2)(Q)		(7,069	)		(2,013	)		5,056
	825		03/16/38		2.987%(S)	3 Month LIBOR(2)(Q)		—			(3,630	)		(3,630	)
	1,680		02/15/42		1.369%(A)	1 Day USOIS(1)(A)		180			352,312			352,132
	2,820		10/04/42		2.527%(S)	3 Month LIBOR(2)(Q)		—			(247,239	)		(247,239	)
	1,160		11/15/43		2.659%(S)	3 Month LIBOR(1)(Q)		—			75,231			75,231
	845		09/27/46		1.380%(A)	1 Day USOIS(1)(A)		165			193,681			193,516
	2,490		10/04/47		2.536%(S)	3 Month LIBOR(1)(Q)		—			232,845			232,845
	1,985		03/15/48		2.990%(S)	3 Month LIBOR(2)(Q)		(6,612	)		3,137			9,749
	620		03/16/48		2.970%(S)	3 Month LIBOR(1)(Q)		—			1,711			1,711
	790		04/09/48		2.545%(S)	3 Month LIBOR(1)(Q)		—			72,858			72,858
	735		05/08/48		2.627%(S)	3 Month LIBOR(1)(Q)		—			55,432			55,432
ZAR	3,320		08/26/20		7.855%(Q)	3 Month JIBAR(2)(Q)		3			5,765			5,762
ZAR	148,100		09/23/22		7.430%(Q)	3 Month JIBAR(2)(Q)		—			24,129			24,129
ZAR	17,000		11/15/23		8.085%(Q)	3 Month JIBAR(2)(Q)		(311	)		50,519			50,830
ZAR	16,800		05/12/26		8.680%(Q)	3 Month JIBAR(2)(Q)		18			94,533			94,515
ZAR	27,500		06/30/27		8.015%(Q)	3 Month JIBAR(2)(Q)		(155	)		54,018			54,173

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 87

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
	ZAR 68,200		11/07/27		8.360%(Q)	3 Month JIBAR(2)(Q)	$	53		$	264,967		$	264,914
	ZAR 43,090		01/17/28		7.833%(Q)	3 Month JIBAR(2)(Q)		—			32,521			32,521
	ZAR 35,000		04/16/28		7.655%(Q)	3 Month JIBAR(2)(Q)		(1,219	)		(11,868	)		(10,649	)
							$	(902,654	)	$	22,284,405		$	23,187,059

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Fair Value			Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)			Counterparty
	OTC swap agreements:
AED	90,500		04/05/21		3.005%(M)	3 Month EIBOR(1)(Q)	$	58,732		$	—	$	58,732		BNP Paribas
CLP	2,890,000		02/09/27		4.120%(S)	1 Day CLOIS(2)(S)		32,977			—		32,977		Morgan Stanley
CLP	94,000		12/19/27		4.370%(S)	1 Day CLOIS(2)(Q)		4,107			—		4,107		Morgan Stanley
CLP	2,420,000		12/20/27		4.260%(S)	1 Day CLOIS(2)(S)		44,506			—		44,506		Morgan Stanley
CLP	842,800		01/23/28		4.245%(S)	1 Day CLOIS(2)(S)		17,795			—		17,795		Morgan Stanley
CLP	2,168,000		01/26/28		4.210%(S)	1 Day CLOIS(2)(S)		35,212			—		35,212		Morgan Stanley
CLP	1,080,000		02/01/28		4.200%(S)	1 Day CLOIS(2)(S)		15,425			—		15,425		Morgan Stanley
CLP	1,750,000		03/27/28		4.220%(S)	1 Day CLOIS(2)(S)		20,555			—		20,555		Citigroup Global Markets
COP	33,350,000		07/22/18		6.810%(Q)	1 Day COOIS(1)(Q)		(80,727	)		—		(80,727	)	Morgan Stanley
COP	33,000,000		12/06/18		6.100%(Q)	1 Day COOIS(1)(Q)		(178,245	)		—		(178,245	)	Morgan Stanley
COP	4,351,000		11/01/26		6.590%(Q)	1 Day COOIS(2)(Q)		107,591			—		107,591		Morgan Stanley
COP	10,220,000		11/04/26		6.770%(Q)	1 Day COOIS(2)(Q)		298,564			—		298,564		Morgan Stanley
COP	13,700,000		06/02/27		5.910%(Q)	1 Day COOIS(2)(Q)		67,167			—		67,167		Morgan Stanley
COP	484,000		12/19/27		6.085%(Q)	1 Day COOIS(2)(Q)		2,338			—		2,338		Morgan Stanley
COP	5,437,000		01/23/28		6.035%(Q)	1 Day COOIS(2)(Q)		13,848			—		13,848		Morgan Stanley
COP	6,670,000		01/26/28		6.000%(Q)	1 Day COOIS(2)(Q)		25,900			—		25,900		Morgan Stanley
COP	5,607,000		02/01/28		6.020%(Q)	1 Day COOIS(2)(Q)		32,512			—		32,512		Morgan Stanley
COP	13,000,000		03/27/28		6.150%(Q)	1 Day COOIS(2)(Q)		103,393			—		103,393		Citigroup Global Markets
CZK	25,000		06/27/18		1.635%(A)	6 Month PRIBOR(2)(S)		14,291			—		14,291		Hong Kong & Shanghai Bank
ILS	6,500		11/20/18		2.200%(A)	3 Month TELBOR(2)(Q)		38,377			—		38,377		Hong Kong & Shanghai Bank
ILS	97,780		11/20/21		0.915%(A)	3 Month TELBOR(1)(Q)		18,640			—		18,640		BNP Paribas
ILS	7,500		12/09/22		1.530%(A)	3 Month TELBOR(2)(Q)		75,167			—		75,167		Citigroup Global Markets
ILS	3,200		03/06/23		3.525%(A)	3 Month TELBOR(2)(Q)		115,078			—		115,078		Deutsche Bank AG
ILS	4,200		06/27/23		3.730%(A)	3 Month TELBOR(2)(Q)		198,585			—		198,585		Credit Suisse First Boston Corp.

See Notes to Financial Statements.

88

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)			Counterparty
	OTC swap agreements (cont’d.):
ILS	3,000		04/26/26		1.685%(A)	3 Month TELBOR(2)(Q)	$	9,296		$	—		$	9,296		JPMorgan Chase
ILS	5,000		06/24/26		1.660%(A)	3 Month TELBOR(2)(Q)		29,231			—			29,231		Citigroup Global Markets
ILS	4,000		09/19/26		1.600%(A)	3 Month TELBOR(2)(Q)		9,602			—			9,602		Barclays Capital Group
ILS	7,000		01/12/27		1.975%(A)	3 Month TELBOR(2)(Q)		60,679			—			60,679		Citigroup Global Markets
ILS	3,000		03/15/27		2.130%(A)	3 Month TELBOR(2)(Q)		32,494			—			32,494		Citigroup Global Markets
ILS	2,745		06/22/27		1.845%(A)	3 Month TELBOR(2)(Q)		18,891			—			18,891		Citigroup Global Markets
ILS	40,000		11/21/27		2.800%(A)	3 Month TELBOR(2)(Q)		18,084			—			18,084		BNP Paribas
ILS	5,600		04/26/28		1.915%(A)	3 Month TELBOR(2)(Q)		7,445			—			7,445		BNP Paribas
JPY	35,000		12/14/32		1.575%(S)	6 Month JPY LIBOR(2)(S)		54,344			—			54,344		Hong Kong & Shanghai Bank
KRW	45,000,000		11/19/19		2.175%(Q)	3 Month KWCDC(2)(Q)		44,109			—			44,109		UBS AG
KRW	1,500,000		08/14/21		2.773%(Q)	3 Month KRW LIBOR(2)(Q)		31,559			—			31,559		Hong Kong & Shanghai Bank
KRW	655,000		10/07/22		1.765%(Q)	3 Month KRW LIBOR(2)(Q)		(11,299	)		—			(11,299	)	JPMorgan Chase
KRW	3,300,000		04/17/23		2.170%(Q)	3 Month KWCDC(2)(Q)		(7,359	)		(183	)		(7,176	)	Morgan Stanley
KRW	900,000		11/05/24		2.425%(Q)	3 Month KRW LIBOR(2)(Q)		9,580			—			9,580		Citigroup Global Markets
KRW	1,485,000		10/28/26		1.520%(Q)	3 Month KRW LIBOR(2)(Q)		(84,742	)		(14	)		(84,728	)	JPMorgan Chase
KRW	2,040,000		04/26/27		1.880%(Q)	3 Month KRW LIBOR(2)(Q)		(68,411	)		—			(68,411	)	Morgan Stanley
KRW	1,280,000		10/17/28		1.450%(Q)	3 Month KRW LIBOR(2)(Q)		(100,966	)		—			(100,966	)	Citigroup Global Markets
KRW	520,000		01/27/31		1.870%(Q)	3 Month KRW LIBOR(2)(Q)		(28,165	)		—			(28,165	)	JPMorgan Chase
MYR	16,000		08/19/23		3.445%(Q)	3 Month KLIBOR(2)(Q)		(116,399	)		—			(116,399	)	Morgan Stanley
MYR	1,700		04/28/25		4.040%(Q)	3 Month KLIBOR(2)(Q)		(2,558	)		—			(2,558	)	Citigroup Global Markets
SAR	90,500		04/05/21		3.020%(A)	3 Month SAIBOR(2)(Q)		(48,539	)		—			(48,539	)	BNP Paribas
SAR	37,850		11/08/22		3.090%(A)	3 Month SAIBOR(1)(Q)		15,487			—			15,487		BNP Paribas
SAR	38,780		04/05/25		3.480%(A)	3 Month SAIBOR(1)(Q)		67,318			—			67,318		BNP Paribas
THB	120,000		08/23/23		1.920%(S)	6 Month BIBOR(2)(S)		(26,924	)		—			(26,924	)	Morgan Stanley
THB	28,900		04/30/25		2.560%(S)	6 Month BIBOR(2)(S)		16,621			—			16,621		Citigroup Global Markets

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 89

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)			Counterparty
	OTC swap agreements (cont’d.):
TWD	115,500		03/17/21		0.780%(Q)	3 Month TAIBOR(2)(Q)	$	(4,862	)	$	—		$	(4,862	)	Barclays Capital Group
ZAR	40,930		03/22/42		7.800%(Q)	3 Month JIBAR(2)(Q)		(63,427	)		—			(63,427	)	Deutsche Bank AG
ZAR	89,400		09/22/42		8.020%(Q)	3 Month JIBAR(2)(Q)		41,905			—			41,905		Deutsche Bank AG
ZAR	38,700		03/22/47		7.650%(Q)	3 Month JIBAR(1)(Q)		74,514			—			74,514		Deutsche Bank AG
ZAR	83,965		09/22/47		7.890%(Q)	3 Month JIBAR(1)(Q)		(38,258	)		—			(38,258	)	Deutsche Bank AG
							$	1,021,038		$	(197	)	$	1,021,235

Securities with a combined market value of $19,888,258 have been segregated with Citigroup Global Markets to cover requirements for open centrally cleared swap contracts at April 30, 2018.

(1) The Fund pays the fixed rate and receives the floating rate.

(2) The Fund pays the floating rate and receives the fixed rate.

(3) The Fund pays the floating rate of 3 Month LIBOR quarterly and receives quarterly the floating rate of 1 Day USOIS plus 38.25bps quarterly.

(4) The Fund pays the floating rate of 3 Month LIBOR quarterly and receives the floating rate of 1 Day USOIS plus 22.38 bps quarterly.

(5) The Fund pays the floating rate of 3 Month CHF LIBOR plus 1.75 bps quarterly and receives the floating rate of 6 Month CHF LIBOR semiannually.

Total return swap agreements outstanding at April 30, 2018:

Counterparty	Termination Date		Long (Short) Notional Amount (000)#		Description	Fair Value		Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)(1)
OTC total return swap agreement :
Citigroup Global Markets		06/20/18		5,000	Pay quarterly variable payment based on 3 Month LIBOR and receive fixed payment on iBoxx USD Liquid High Yield Index upon termination.	$	14,432	$	(12,912	)	$	27,344

(1) Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).

See Notes to Financial Statements.

90

Balances Reported in the Statement of Assets and Liabilities for OTC Swap Agreements:

	Premiums Paid		Premiums Received			Unrealized Appreciation		Unrealized Depreciation
OTC Swap Agreements	$	645,512	$	(5,712,451	)	$	8,400,220	$	(1,298,629	)

Fair Value Measurements:

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 1 — unadjusted quoted prices generally in active markets for identical securities.

Level 2 — quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates and other observable inputs.

Level 3 — unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.

The following is a summary of the inputs used as of April 30, 2018 in valuing such portfolio securities:

	Level 1		Level 2		Level 3
Investments in Securities
Asset-Backed Securities
Automobiles	$	—	$	6,352,196	$	—
Collateralized Loan Obligations		—		177,092,725		33,000,000
Consumer Loans		—		18,422,424		4,306,088
Home Equity Loans		—		14,223,227		—
Residential Mortgage-Backed Securities		—		11,840,352		4,132,581
Student Loans		—		11,185,130		—
Bank Loans		—		808,870		—
Commercial Mortgage-Backed Securities		—		134,825,325		—
Corporate Bonds		—		167,941,916		—
Foreign Bonds
Argentina		—		21,533,807		—
Australia		—		2,377,477		—
Austria		—		4,452,517		—
Belgium		—		7,339,723		—
Brazil		—		33,553,962		—
Bulgaria		—		12,774,770		—
Canada		—		26,329,734		—
Cayman Islands		—		2,268,250		—
Chile		—		924,445		—
China		—		1,699,288		—

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 91

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

	Level 1		Level 2		Level 3
Investments in Securities (continued)
Foreign Bonds (continued)
Colombia	$	—	$	18,012,880	$	—
Costa Rica		—		1,200,540		—
Croatia		—		5,625,920		—
Cyprus		—		30,311,832		—
Denmark		—		1,660,670		—
Dominican Republic		—		4,226,000		—
Egypt		—		2,684,160		—
Finland		—		733,873		—
France		—		49,587,836		—
Germany		—		10,664,269		—
Greece		—		47,000,401		—
Guernsey		—		1,999,868		—
Hong Kong		—		2,121,960		—
Hungary		—		19,469,259		—
Iceland		—		8,091,653		—
Indonesia		—		31,137,611		—
Iraq		—		1,698,756		—
Ireland		—		3,104,323		—
Isle of Man		—		9,129,833		—
Israel		—		7,563,183		—
Italy		—		88,012,390		—
Japan		—		48,087,238		—
Kuwait		—		1,985,937		—
Latvia		—		1,251,661		—
Lithuania		—		9,592,983		—
Macedonia		—		643,046		—
Malaysia		—		7,649,460		—
Mexico		—		46,060,945		—
Montenegro		—		898,725		—
Netherlands		—		11,915,337		—
New Zealand		—		6,349,174		—
Norway		—		4,154,652		—
Panama		—		3,529,225		—
Peru		—		16,073,006		—
Poland		—		12,027,346		—
Portugal		—		39,581,589		—
Qatar		—		3,031,892		—
Romania		—		11,240,689		—
Russia		—		11,564,660		—
Saudi Arabia		—		7,653,955		—
Senegal		—		1,669,910		—
Serbia		—		2,534,300		—
Singapore		—		774,242		—

See Notes to Financial Statements.

92

	Level 1			Level 2			Level 3
Investments in Securities (continued)
Foreign Bonds (continued)
Slovak Republic	$	—		$	2,230,071		$	—
Slovenia		—			10,183,637			—
South Africa		—			9,816,565			—
South Korea		—			8,083,046			—
Spain		—			86,479,722			—
Supranational Bank		—			33,664,862			—
Sweden		—			12,776,804			—
Switzerland		—			8,906,583			—
Tunisia		—			725,284			—
Turkey		—			8,602,756			—
Ukraine		—			1,730,062			—
United Arab Emirates		—			3,796,307			—
United Kingdom		—			56,736,626			—
Uruguay		—			1,159,329			—
Municipal Bonds		—			720,618			—
Residential Mortgage-Backed Securities		—			56,425,277			1,459,000
U.S. Government Agency Obligations		—			4,380,907			—
U.S. Treasury Obligations		—			4,180,095			—
Common Stock		34,390			—			—
Preferred Stock		107,160			—			—
Affiliated Mutual Funds		157,341,181			—			—
Options Purchased		—			29,634,957			—
Options Written		—			(28,770,285	)		(81,479	)
Other Financial Instruments*
Futures Contracts		(808,214	)		—			—
OTC Forward Foreign Currency Exchange Contracts		—			(2,197,197	)		—
OTC Cross Currency Exchange Contracts		—			901,498			—
Centrally Cleared Credit Default Swap Agreements		—			672,994			—
OTC Credit Default Swap Agreements		—			1,498,625			(392,283	)
OTC Currency Swap Agreements		—			(107,160	)		—
Centrally Cleared Inflation Swap Agreements		—			(177,892	)		—
Centrally Cleared Interest Rate Swap Agreements		—			23,187,059			—
OTC Interest Rate Swap Agreements		—			1,021,038			—
OTC Total Return Swap Agreements		—			14,432			—
Total	$	156,674,517		$	1,584,529,947		$	42,423,907

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 93

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

The following is a reconciliation of assets in which unobservable inputs (Level 3) were used in determining fair value:

	Asset-Backed Securities— Collateralized Loan Obligations		Asset-Backed Securities— Consumer Loans		Asset-Backed Securities— Residential Mortgage- Backed Securities			Residential Mortgage— Backed Securities			Options Written			Credit Default Swaps
Balance as of 10/31/17	$	—	$	—	$	1,600,000		$	5,416,742		$	—		$	14,181
Realized gain (loss)		—		—		—			—			—			33,117
Change in unrealized appreciation (depreciation)		—		16,088		2,581			—			(59,855	)		(392,283	)
Purchases/Exchanges/Issuances		33,000,000		4,290,000		4,130,000			1,459,000			—			—
Sales/Paydowns		—		—		—			—			(21,624	)		(47,298	)
Accrued discount/premium		—		—		—			—			—			—
Transfers into Level 3		—		—		—			—			—			—
Transfers out of Level 3		—		—		(1,600,000	)		(5,416,742	)		—			—
Balance as of 04/30/18	$	33,000,000	$	4,306,088	$	4,132,581		$	1,459,000		$	(81,479	)	$	(392,283	)
Change in unrealized appreciation (depreciation) relating to securities still held at reporting period end	$	—	$	16,088	$	2,581		$	—		$	(59,855	)	$	(392,283	)

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and centrally cleared swap contracts, which are recorded at the unrealized appreciation (depreciation) on the instrument, and OTC swap contracts which are recorded at fair value.

Level 3 securities as presented in the table above are being fair valued using pricing methodologies approved by Board, which contain unobservable inputs as follows:

Level 3 Securities	Fair Value as of April 30, 2018			Valuation Methodology		Unobservable Inputs
Asset-Backed Securities-Collateralized Loan Obligations	$	33,000,000			Market Approach		Single Broker Indicative Quote
Asset-Backed Securities-Consumer Loans		4,306,088			Market Approach		Single Broker Indicative Quote
Asset-Backed Securities-Residential Mortgage-Backed Securities		4,132,581			Market Approach		Single Broker Indicative Quote
Residential Mortgage-Backed Securities		1,459,000			Market Approach		Single Broker Indicative Quote
Options Written		(81,479	)		Market Approach		Single Broker Indicative Quote
Credit Default Swaps		(392,283	)		Market Approach		Single Broker Indicative Quote
	$	42,423,907

See Notes to Financial Statements.

94

It is the Fund’s policy to recognize transfers in and transfers out at the fair value as of the beginning of period. At the reporting period end, securities transferred levels as follows:

Investments in Securities	Amount Transferred		Level Transfer		Logic
Asset-Backed Securities—Residential Mortgage-Backed Securities	$	1,600,000		L3 to L2		Single Broker Indicative Quote to Evaluated Bid
Residential Mortgage-Backed Securities	$	5,416,742		L3 to L2		Single Broker Indicative Quote to Evaluated Bid

Industry Classification:

The industry classification of investments and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2018 were as follows:

Sovereign Bonds	46.0	%
Collateralized Loan Obligations	12.7
Affiliated Mutual Funds (including 2.7% of collateral for securities on loan)	9.5
Commercial Mortgage-Backed Securities	8.1
Banks	6.2
Residential Mortgage-Backed Securities	4.4
Oil & Gas	2.2
Multi-National	2.0
Options Purchased	1.8
Consumer Loans	1.4
Electric	1.4
Media	1.1
Chemicals	1.0
Pipelines	0.9
Home Equity Loans	0.8
Pharmaceuticals	0.7
Student Loans	0.7
Auto Manufacturers	0.7
Telecommunications	0.5
Software	0.4
Insurance	0.4
Transportation	0.4
Automobiles	0.4
Commercial Services	0.4
Healthcare-Services	0.4
Miscellaneous Manufacturing	0.3
Diversified Financial Services	0.3
Retail	0.3
Biotechnology	0.3
Foods	0.3
U.S. Government Agency Obligations	0.3
U.S. Treasury Obligations	0.3	%
Real Estate Investment Trusts (REITs)	0.2
Entertainment	0.2
Auto Parts & Equipment	0.1
Oil & Gas Services	0.1
Home Builders	0.1
Apparel	0.1
Packaging & Containers	0.1
Internet	0.1
Housewares	0.1
Healthcare-Products	0.1
Computers	0.1
Hotels, Resorts & Cruise Lines	0.1
Forest Products & Paper	0.0	*
Household Products/Wares	0.0	*
Municipal Bonds	0.0	*
Electronics	0.0	*
Lodging	0.0	*
Office & Business Equipment	0.0	*
Airlines	0.0	*
Investment Companies	0.0	*
Semiconductors	0.0	*
Consumer Cyclical - Services	0.0	*
Building Materials	0.0	*
Mining	0.0	*
Oil, Gas & Consumable Fuels	0.0	*
Agriculture	0.0	*
	108.0
Options Written	(1.7	)
Liabilities in excess of other assets	(6.3	)
	100.0	%

* Less than +/- 0.05%

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 95

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Effects of Derivative Instruments on the Financial Statements and Primary Underlying Risk Exposure:

The Fund invested in derivative instruments during the reporting period. The primary types of risk associated with these derivative instruments are credit contracts risk, foreign exchange contracts risk and interest rate contracts risk. The effect of such derivative instruments on the Fund’s financial position and financial performance as reflected in the Statement of Assets and Liabilities and Statement of Operations is presented in the summary below.

Fair values of derivative instruments as of April 30, 2018 as presented in the Statement of Assets and Liabilities:

	Asset Derivatives					Liability Derivatives
Derivatives not accounted for as hedging instruments, carried at fair value	Balance Sheet Location		Fair Value			Balance Sheet Location		Fair Value
Credit contracts		Due from/to broker-variation margin swaps	$	802,554	*		Due from/to broker-variation margin swaps	$	129,560	*
Credit contracts		Premiums paid for OTC swap agreements		645,512			Premiums received for OTC swap agreements		5,699,342
Credit contracts		Unaffiliated investments		138,408			Options written outstanding, at value		255,609
Credit contracts		Unrealized appreciation on OTC swap agreements		6,490,957			Unrealized depreciation on OTC swap agreements		330,785
Foreign exchange contracts		Unaffiliated investments		29,340,911			Options written outstanding, at value		28,359,038
Foreign exchange contracts		Unrealized appreciation on OTC cross currency exchange contracts		1,698,493			Unrealized depreciation on OTC cross currency exchange contracts		796,995
Foreign exchange contracts		Unrealized appreciation on OTC forward foreign currency exchange contracts		10,582,437			Unrealized depreciation on OTC forward foreign currency exchange contracts		12,779,634
Interest rate contracts		Due from/to broker-variation margin futures		2,843,369	*		Due from/to broker-variation margin futures		3,651,583	*
Interest rate contracts		Due from/to broker-variation margin swaps		38,721,305	*		Due from/to broker-variation margin swaps		15,712,138	*
Interest rate contracts		—		—			Premiums received for OTC swap agreements		13,109
Interest rate contracts		Unaffiliated investments		155,638			Options written outstanding, at value		237,117
Interest rate contracts		Unrealized appreciation on OTC swap agreements		1,909,263			Unrealized depreciation on OTC swap agreements		967,844
Total			$	93,328,847				$	68,932,754

* Includes cumulative appreciation (depreciation) as reported in the schedule of open futures and centrally cleared swap contracts, and centrally cleared forward rate agreements. Only unsettled variation margin receivable (payable) is reported within the Statement of Assets and Liabilities.

See Notes to Financial Statements.

96

The effects of derivative instruments on the Statement of Operations for the six months ended April 30, 2018 are as follows:
Amount of Realized Gain (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments, carried at fair value	Options Purchased(1)			Options Written		Futures			Forward & Cross Currency Contracts		Swaps
Credit contracts	$	(897,110	)	$	1,041,547	$	—		$	—	$	958,003
Foreign exchange contracts		(4,649,142	)		5,185,839		—			172,328		—
Interest rate contracts		(1,065,245	)		843,880		(18,231,909	)		—		3,367,230
Total	$	(6,611,497	)	$	7,071,266	$	(18,231,909	)	$	172,328	$	4,325,233

(1) Included in net realized gain (loss) on investment transactions in the Statement of Operations.

Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments, carried at fair value	Options Purchased(2)			Options Written			Futures		Forward & Cross Currency Contracts			Swaps
Credit contracts	$	325,111		$	8,780		$	—	$	—		$	979,985
Foreign exchange contracts		(4,418,333	)		4,792,119			—		(979,897	)		—
Interest rate contracts		526,764			(498,194	)		1,409,878		—			15,791,221
Total	$	(3,566,458	)	$	4,302,705		$	1,409,878	$	(979,897	)	$	16,771,206

(2) Included in net change in unrealized appreciation (depreciation) on investments in the Statement of Operations.

For the six months ended April 30, 2018, the Fund’s average volume of derivative activities is as follows:

Options Purchased(1)		Options Written(4)		Futures Contracts— Long Positions(4)		Futures Contracts— Short Positions(4)		Forward Foreign Currency Exchange Contracts— Purchased(3)		Forward Foreign Currency Exchange Contracts— Sold(3)		Cross Currency Exchange Contracts(2)
$	23,253,655	$	1,463,418,674	$	788,164,908	$	478,014,951	$	637,078,463	$	441,459,637	$	54,385,869

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 97

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Credit Default Swap Agreements— Buy Protection(4)		Credit Default Swap Agreements— Sell Protection(4)		Currency Swap Agreements(4)		Inflation Swap Agreements(4)		Interest Rate Swap Agreements(4)		Total Return Swap Agreements(4)
$	39,987,452	$	279,933,947	$	22,397,333	$	86,113,565	$	4,471,251,849	$	8,333,333

(1) Cost.

(2) Value at Trade Date.

(3) Value at Settlement Date.

(4) Notional Amount in USD.

Financial Instruments/Transactions—Summary of Offsetting and Netting Arrangements:

The Fund invested in OTC derivatives and entered into financial instruments/transactions during the reporting period that are either offset in accordance with current requirements or are subject to enforceable master netting arrangements or similar agreements that permit offsetting. The information about offsetting and related netting arrangements for OTC derivatives and financial instruments/transactions, where the legal right to set-off exists, is presented in the summary below.

Offsetting of financial instrument/transaction assets and liabilities:

Description	Gross Market Value of Recognized Assets/(Liabilities)		Collateral Pledged/(Received)(2)			Net Amount
Securities on Loan	$	42,801,560	$	(42,801,560	)	$	—

Offsetting of OTC derivative assets and liabilities:

Counterparty	Gross Amounts of Recognized Assets(1)		Gross Amounts of Recognized Liabilities(1)			Net Amounts of Recognized Assets/ (Liabilities)			Collateral Pledged/ (Received)(2)			Net Amount
Bank of America	$	1,406,132	$	(684,134	)	$	721,998		$	(621,670	)	$	100,328
Barclays Capital Group		2,820,209		(3,032,801	)		(212,592	)		92,668			(119,924	)
BNP Paribas		5,175,233		(4,096,114	)		1,079,119			(1,072,258	)		6,861
Citigroup Global Markets		6,414,902		(5,394,857	)		1,020,045			(1,020,045	)		—
Credit Suisse First Boston Corp.		520,330		(479,601	)		40,729			—			40,729

See Notes to Financial Statements.

98

Counterparty	Gross Amounts of Recognized Assets(1)		Gross Amounts of Recognized Liabilities(1)			Net Amounts of Recognized Assets/ (Liabilities)			Collateral Pledged/ (Received)(2)			Net Amount
Deutsche Bank AG	$	11,705,068	$	(11,665,434	)	$	39,634		$	—		$	39,634
Goldman Sachs & Co.		1,808,308		(4,265,977	)		(2,457,669	)		2,457,669			—
Hong Kong & Shanghai Bank		1,582,680		(1,534,950	)		47,730			—			47,730
JPMorgan Chase		3,479,808		(2,885,993	)		593,815			(410,536	)		183,279
Morgan Stanley		14,929,134		(14,139,808	)		789,326			(740,000	)		49,326
Toronto Dominion		68,217		(176,102	)		(107,885	)		—			(107,885	)
UBS AG		1,051,598		(1,083,702	)		(32,104	)		—			(32,104	)
	$	50,961,619	$	(49,439,473	)	$	1,522,146		$	(1,314,172	)	$	207,974

(1) Includes unrealized appreciation/(depreciation) on swaps and forwards, premiums paid/(received) on swap agreements and market value of purchased and written options, as represented on the Statement of Assets and Liabilities.

(2) Collateral amount disclosed by the Fund is limited to the market value of financial instruments/transactions and the Fund’s OTC derivative exposure by counterparty.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 99

Statement of Assets & Liabilities (unaudited)

as of April 30, 2018

Assets
Investments at value, including securities on loan of $42,801,560:
Unaffiliated investments (cost $1,619,710,719)	$	1,631,526,054
Affiliated investments (cost $157,339,500)		157,341,181
Cash		1,993,582
Foreign currency, at value (cost $9,110,087)		9,047,186
Cash segregated for counterparty—OTC		3,400,000
Dividends and interest receivable		14,872,371
Unrealized appreciation on OTC forward foreign currency exchange contracts		10,582,437
Receivable for Fund shares sold		9,032,722
Unrealized appreciation on OTC swap agreements		8,400,220
Receivable for investments sold		3,836,978
Unrealized appreciation on OTC cross currency exchange contracts		1,698,493
Due from broker—variation margin futures		1,354,217
Premiums paid for OTC swap agreements		645,512
Tax reclaim receivable		1,763
Prepaid expenses		2,737
Total Assets		1,853,735,453
Liabilities
Payable for investments purchased		100,337,368
Payable to broker for collateral for securities on loan		44,284,447
Options written outstanding, at value (premiums received $39,158,520)		28,851,764
Unrealized depreciation on OTC forward foreign currency exchange contracts		12,779,634
Premium received for OTC swap agreements		5,712,451
Payable for Fund shares reacquired		2,769,200
Unrealized depreciation on OTC swap agreements		1,298,629
Unrealized depreciation on OTC cross currency exchange contracts		796,995
Management fee payable		617,388
Due to broker—variation margin swaps		368,944
Dividends payable		307,360
Accrued expenses and other liabilities		148,148
Distribution fee payable		74,964
Affiliated transfer agent fee payable		25,185
Shareholder service fee payable		7
Total Liabilities		198,372,484
Net Assets	$	1,655,362,969
Net assets were comprised of:
Common stock, at par	$	2,424,781
Paid-in capital in excess of par		1,623,594,872
		1,626,019,653
Distributions in excess of net investment income		(8,927,100	)
Accumulated net realized loss on investment and foreign currency transactions		(12,462,943	)
Net unrealized appreciation on investments and foreign currencies		50,733,359
Net assets, April 30, 2018	$	1,655,362,969

See Notes to Financial Statements.

100

Class A
Net asset value and redemption price per share ($196,242,049 ÷ 28,938,930 shares of common stock issued and outstanding)	$	6.78
Maximum sales charge (4.50% of offering price)		0.32
Maximum offering price to public	$	7.10
Class B
Net asset value, offering price and redemption price per share ($3,063,160 ÷ 451,929 shares of common stock issued and outstanding)	$	6.78
Class C
Net asset value, offering price and redemption price per share ($38,687,627 ÷ 5,715,858 shares of common stock issued and outstanding)	$	6.77
Class Z
Net asset value, offering price and redemption price per share ($763,833,169 ÷ 112,065,784 shares of common stock issued and outstanding)	$	6.82
Class R2
Net asset value, offering price and redemption price per share ($10,034 ÷ 1,463 shares of common stock issued and outstanding)	$	6.86
Class R4
Net asset value, offering price and redemption price per share ($10,042 ÷ 1,464 shares of common stock issued and outstanding)	$	6.86
Class R6
Net asset value, offering price and redemption price per share ($653,516,888 ÷ 95,302,709 shares of common stock issued and outstanding)	$	6.86

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 101

Statement of Operations (unaudited)

Six Months Ended April 30, 2018

Net Investment Income (Loss)
Income
Interest income (net of foreign withholding taxes of $18)	$	17,644,145
Affiliated dividend income		407,301
Income from securities lending, net (including affiliated income of $11,947)		79,974
Unaffiliated dividend income		4,014
Total income		18,135,434
Expenses
Management fee		3,175,088
Distribution fee(a)		419,289
Shareholder servicing fees(a)		8
Transfer agent’s fees and expenses (including affiliated expense of $61,799)(a)		432,844
Custodian and accounting fees		161,047
Registration fees(a)		96,393
Shareholders’ reports		61,928
SEC registration fees		35,322
Audit fee		33,382
Directors’ fees		15,754
Legal fees and expenses		14,242
Miscellaneous		12,348
Total expenses		4,457,645
Less: Fee waiver and/or expense reimbursement(a)		(223,718	)
Net expenses		4,233,927
Net investment income (loss)		13,901,507
Realized And Unrealized Gain (Loss) On Investments And Foreign Currency Transactions
Net realized gain (loss) on:
Investment transactions (including affiliated of $(2,454))		(4,375,268	)
Futures transactions		(18,231,909	)
Options written transactions		7,071,266
Swap agreement transactions		4,325,233
Forward and cross currency contract transactions		172,328
Foreign currency transactions		3,297,491
		(7,740,859	)
Net change in unrealized appreciation (depreciation) on:
Investments (including affiliated of $1,483)		(8,836,337	)
Futures		1,409,878
Options written		4,302,705
Swap agreements		16,771,206
Forward and cross currency contracts		(979,897	)
Foreign currencies		(197,701	)
		12,469,854
Net gain (loss) on investment and foreign currency transactions		4,728,995
Net Increase (Decrease) In Net Assets Resulting From Operations	$	18,630,502

(a) Class specific expenses and waivers were as follows:

	Class A			Class B			Class C			Class Z			Class R2			Class R4			Class R6
Distribution fee		230,109			15,609			173,562			—			9			—			—
Shareholder servicing fees		—			—			—			—			4			4			—
Transfer agent’s fees and expenses		163,684			3,499			17,985			241,548			38			38			6,052
Registration fees		13,832			9,799			9,864			22,260			6,441			6,441			27,756
Fee waiver and/or expense reimbursement		(110,137	)		(12,176	)		(15,255	)		(73,202	)		(6,474	)		(6,474	)		—

See Notes to Financial Statements.

102

Schedule of Investments (unaudited)

as of April 30, 2018

	Six Months Ended April 30, 2018			Year Ended October 31, 2017
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	13,901,507		$	18,524,017
Net realized gain (loss) on investment and foreign currency transactions		(7,740,859	)		(2,589,415	)
Net change in unrealized appreciation (depreciation) on investments and foreign currencies		12,469,854			36,819,868
Net increase (decrease) in net assets resulting from operations		18,630,502			52,754,470
Dividends and Distributions
Dividends from net investment income*
Class A		(2,806,388	)		(3,622,440	)
Class B		(36,023	)		(57,774	)
Class C		(399,664	)		(504,353	)
Class Z		(8,254,439	)		(7,522,604	)
Class R2		(95	)		—
Class R4		(103	)		—
Class R6		(9,042,550	)		(5,978,521	)
		(20,539,262	)		(17,685,692	)
Tax return of capital distributions
Class A		—			(1,212,278	)
Class B		—			(19,335	)
Class C		—			(168,785	)
Class Z		—			(2,517,498	)
Class R2		—			—
Class R4		—			—
Class R6		—			(2,000,759	)
		—			(5,918,655	)
Distributions from net realized gains and capital gain distributions received
Class A		—			(1,042,947	)
Class B		—			(16,634	)
Class C		—			(145,210	)
Class Z		—			(2,165,855	)
Class R2		—			—
Class R4		—			—
Class R6		—			(1,721,293	)
		—			(5,091,939	)
Fund share transactions (Net of share conversions)
Net proceeds from shares sold		755,248,207			692,691,589
Net asset value of shares issued in reinvestment of dividends and distributions		18,829,967			24,476,768
Cost of shares reacquired		(177,153,425	)		(289,373,478	)
Net increase (decrease) in net assets from Fund share transactions		596,924,749			427,794,879
Total increase (decrease)		595,015,989			451,853,063
Net Assets:
Beginning of period		1,060,346,980			608,493,917
End of period(a)	$	1,655,362,969		$	1,060,346,980
(a) Includes undistributed/(distributions in excess of) net investment income of:	$	(8,927,100	)	$	(2,289,345	)

* Dividends from net investment income may include other items that are ordinary income for tax purposes.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 103

Notes to Financial Statements (unaudited)

Prudential Global Total Return Fund, Inc. (the “Company”) is registered under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company and currently consists of two funds: PGIM Global Total Return (USD Hedged) Fund and PGIM Global Total Return Fund, each of which are non-diversified funds for purposes of the 1940 Act and may invest a greater percentage of their assets in the securities of a single company or other issuer than a diversified fund. Investing in a non-diversified fund involves greater risk than investing in a diversified fund because a loss resulting from the decline in value of any one security may represent a greater portion of the total assets of a non-diversified fund. These financial statements relate only to the PGIM Global Total Return Fund (the “Fund”). Effective June 11, 2018, the Funds’ names were changed by replacing “Prudential” with “PGIM” in each Fund’s name and Class Q shares were renamed Class R6 shares.

The investment objective of the Fund is to seek total return, made up of current income and capital appreciation.

1. Accounting Policies

The Fund follows investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standard Codification Topic 946 Financial Services—Investment Companies. The following accounting policies conform to U.S. generally accepted accounting principles. The Fund consistently follows such policies in the preparation of its financial statements.

Securities Valuation: The Fund holds securities and other assets and liabilities that are fair valued at the close of each day (generally, 4:00 PM Eastern time) the New York Stock Exchange (“NYSE”) is open for trading. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Board of Directors (the “Board”) has adopted valuation procedures for security valuation under which fair valuation responsibilities have been delegated to PGIM Investments LLC (“PGIM Investments” or “the Manager”). Under the current valuation procedures, the Valuation Committee is responsible for supervising the valuation of portfolio securities and other assets and liabilities. The valuation procedures permit the Fund to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. A record of the Valuation Committee’s actions is subject to the Board’s review, approval, and ratification at its next regularly scheduled quarterly meeting.

For the fiscal reporting period-end, securities and other assets and liabilities were fair valued at the close of the last U.S. business day. Trading in certain foreign securities may

104

occur when the NYSE is closed (including weekends and holidays). Because such foreign securities trade in markets that are open on weekends and U.S. holidays, the values of some of the Fund’s foreign investments may change on days when investors cannot purchase or redeem Fund shares.

Various inputs determine how the Fund’s investments are valued, all of which are categorized according to the three broad levels (Level 1, 2, or 3) detailed in the Schedule of Investments.

Derivative instruments, such as futures or options, that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange where the security principally trades. Securities traded via NASDAQ are valued at the NASDAQ official closing price. To the extent these securities are valued at the last sale price or NASDAQ official closing price, they are classified as Level 1 in the fair value hierarchy.

Investments in open-end, non-exchange-traded mutual funds are valued at their net asset values as of the close of the NYSE on the date of valuation. These securities are classified as Level 1 in the fair value hierarchy since they may be purchased or sold at their net asset values on the date of valuation.

Fixed income securities traded in the OTC market are generally classified as Level 2 in the fair value hierarchy. Such fixed income securities are typically valued using the market approach which generally involves obtaining data from an approved independent third-party vendor source. The Fund utilizes the market approach as the primary method to value securities when market prices of identical or comparable instruments are available. The third-party vendors’ valuation techniques used to derive the evaluated bid price are based on evaluating observable inputs, including but not limited to, yield curves, yield spreads, credit ratings, deal terms, tranche level attributes, default rates, cash flows, prepayment speeds, broker/dealer quotations and reported trades. Certain Level 3 securities are also valued using the market approach when obtaining a single broker quote or when utilizing transaction prices for identical securities that have been used in excess of five business days. During the reporting period, there were no changes to report with respect to the valuation approach and/or valuation techniques discussed above.

Bank loans are generally valued at prices provided by approved independent pricing vendors. The pricing vendors utilize broker/dealer quotations and provide prices based on the average of such quotations. Bank loans valued using such vendor prices are generally classified as Level 2 in the fair value hierarchy. Bank loans valued based on a single broker quote or at the original transaction price in excess of five business days are classified as Level 3 in the fair value hierarchy.

OTC derivative instruments are generally classified as Level 2 in the fair value hierarchy. Such derivative instruments are typically valued using the market approach and/or income approach which generally involves obtaining data from an approved independent third-party vendor source. The Fund utilizes the market approach when quoted prices in broker-dealer markets are available but also includes consideration of alternative valuation

PGIM Global Total Return Fund, Inc. 105

Notes to Financial Statements (unaudited) (continued)

approaches, including the income approach. In the absence of reliable market quotations, the income approach is typically utilized for purposes of valuing OTC derivatives such as interest rate swaps based on a discounted cash flow analysis whereby the value of the instrument is equal to the present value of its future cash inflows or outflows. Such analysis includes projecting future cash flows and determining the discount rate (including the present value factors that affect the discount rate) used to discount the future cash flows. In addition, the third-party vendors’ valuation techniques used to derive the evaluated OTC derivative price is based on evaluating observable inputs, including but not limited to, underlying asset prices, indices, spreads, interest rates and exchange rates. Certain OTC derivatives may be classified as Level 3 when valued using the market approach by obtaining a single broker quote or when utilizing unobservable inputs in the income approach. During the reporting period, there were no changes to report with respect to the valuation approach and/or valuation techniques discussed above.

Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are generally valued at the daily settlement price determined by the respective exchange. These securities are classified as Level 2 in the fair value hierarchy, as the daily settlement price is not public.

Securities and other assets that cannot be priced according to the methods described above are valued based on pricing methodologies approved by the Board. In the event that unobservable inputs are used when determining such valuations, the securities will be classified as Level 3 in the fair value hierarchy.

When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer’s financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of the issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the Manager regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security’s most recent closing price and from the price used by other unaffiliated mutual funds to calculate their net asset values.

Restricted and Illiquid Securities: Subject to guidelines adopted by the Board, the Fund may invest up to 15% of its net assets in illiquid securities, including those which are restricted as to disposition under securities law (“restricted securities”). Restricted securities are valued pursuant to the valuation procedures noted above. Illiquid securities are those that, because of the absence of a readily available market or due to legal or contractual restrictions on

106

resale, cannot be sold within seven days in the ordinary course of business at approximately the amount at which the Fund has valued the investment. Therefore, the Fund may find it difficult to sell illiquid securities at the time considered most advantageous by its Subadviser and may incur transaction costs that would not be incurred in the sale of securities that were freely marketable. Certain securities that would otherwise be considered illiquid because of legal restrictions on resale to the general public may be traded among qualified institutional buyers under Rule 144A of the Securities Act of 1933. These Rule 144A securities, as well as commercial paper that is sold in private placements under Section 4(2) of the Securities Act, may be deemed liquid by the Fund’s Subadviser under the guidelines adopted by the Board of the Fund. However, the liquidity of the Fund’s investments in Rule 144A securities could be impaired if trading does not develop or declines.

Connecticut Avenue Securities (CAS) and Structured Agency Credit Risk (STACR): The Fund purchased government controlled Fannie Mae and Freddie Mac securities that transfer most of the cost of defaults to private investors including the Fund. These are insurance-like products that are called CAS by Fannie Mae and STACR securities by Freddie Mac. Payments on the securities are based primarily on the performance of a reference pool of underlying mortgages. With such securities, the Fund could lose some or all of its principal if the underlying mortgages experience credit defaults.

Foreign Currency Translation: The books and records of the Fund are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars on the following basis:

(i) market value of investment securities, other assets and liabilities—at the current rates of exchange;

(ii) purchases and sales of investment securities, income and expenses—at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets of the Fund are presented at the foreign exchange rates and market values at the close of the period, the Fund does not generally isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities held at the end of the period. Similarly, the Fund does not isolate the effect of changes in foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities sold during the period. Accordingly, holding period realized foreign currency gains (losses) are included in the reported net realized gains (losses) on investment transactions. Notwithstanding the above, the Fund does isolate the effect of fluctuations in foreign currency exchange rates when determining the gain (loss) upon the sale or maturity of foreign currency denominated debt obligations; such amounts are included in net realized gains (losses) on foreign currency transactions.

Additionally, net realized gains (losses) on foreign currency transactions represent net foreign exchange gains (losses) from the disposition of holdings of foreign currencies, currency gains (losses) realized between the trade and settlement dates on securities transactions, and the difference between the amounts of interest, dividends and foreign

PGIM Global Total Return Fund, Inc. 107

Notes to Financial Statements (unaudited) (continued)

withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains (losses) from valuing foreign currency denominated assets and liabilities (other than investments) at period end exchange rates are reflected as a component of net unrealized appreciation (depreciation) on foreign currencies.

Forward and Cross Currency Contracts: A forward currency contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. The Fund enters into forward currency contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings or specific receivables and payables denominated in a foreign currency and to gain exposure to certain currencies. The contracts are valued daily at current forward exchange rates and any unrealized gain (loss) is included in net unrealized appreciation (depreciation) on investments and foreign currencies. Gain (loss) is realized on the settlement date of the contract equal to the difference between the settlement value of the original and negotiated forward contracts. This gain (loss), if any, is included in net realized gain (loss) on forward and cross currency contract transactions. Risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts. Forward currency contracts involve risks from currency exchange rate and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities. The Fund’s maximum risk of loss from counterparty credit risk is the net value of the cash flows to be received from the counterparty at the end of the contract’s life. A cross currency contract is a forward contract where a specified amount of one foreign currency will be exchanged for a specified amount of another foreign currency.

Options: The Fund purchased or wrote options in order to hedge against adverse market movements or fluctuations in value caused by changes in prevailing interest rates, value of equities or foreign currency exchange rates with respect to securities or financial instruments which the Fund currently owns or intends to purchase. The Fund may also use options to gain additional market exposure. The Fund’s principal reason for writing options is to realize, through receipt of premiums, a greater current return than would be realized on the underlying security alone. When the Fund purchases an option, it pays a premium and an amount equal to that premium is recorded as an asset. When the Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the option. If an option expires unexercised, the Fund realizes a gain (loss) to the extent of the premium received or paid. If an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost of the purchase in determining whether the Fund has realized a gain (loss). The difference between the premium and the amount received or paid at the closing of a purchase or sale transaction is also treated as a realized gain (loss). Gain (loss) on purchased options is included in net

108

realized gain (loss) on investment transactions. Gain (loss) on written options is presented separately as net realized gain (loss) on options written transactions.

The Fund, as writer of an option, may have no control over whether the underlying securities or financial instruments may be sold (called) or purchased (put). As a result, the Fund bears the market risk of an unfavorable change in the price of the security or financial instrument underlying the written option. The Fund, as purchaser or an OTC option, bears the risk of the potential inability of the counterparties to meet the terms of their contracts. With exchange-traded options contracts, there is minimal counterparty credit risk to the Fund since the exchanges’ clearinghouse acts as counterparty to all exchange-traded options and guarantees the options contracts against default.

When the Fund writes an option on a swap, an amount equal to any premium received by the Fund is recorded as a liability and is subsequently adjusted to the current market value of the written option on the swap. If a call option on a swap is exercised, the Fund becomes obligated to pay a fixed interest rate (noted as the strike price) and receive a variable interest rate on a notional amount. If a put option on a swap is exercised, the Fund becomes obligated to pay a variable interest rate and receive a fixed interest rate (noted as the strike price) on a notional amount. Premiums received from writing options on swaps that expire or are exercised are treated as realized gains upon the expiration or exercise of such options on swaps. The risk associated with writing put and call options on swaps is that the Fund will be obligated to be party to a swap agreement if an option on a swap is exercised.

Financial Futures Contracts: A financial futures contract is an agreement to purchase (long) or sell (short) an agreed amount of securities at a set price for delivery on a future date. Upon entering into a financial futures contract, the Fund is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount. This amount is known as the “initial margin.” Subsequent payments, known as “variation margin,” are made or received by the Fund each day, depending on the daily fluctuations in the value of the underlying security. Such variation margin is recorded for financial statement purposes on a daily basis as unrealized gain (loss). When the contract expires or is closed, the gain (loss) is realized and is presented in the Statement of Operations as net realized gain (loss) on futures transactions.

The Fund invested in financial futures contracts in order to hedge its existing portfolio securities, or securities the Fund intends to purchase, against fluctuations in value caused by changes in prevailing interest rates or foreign currency exchange rates. Should interest rates move unexpectedly, the Fund may not achieve the anticipated benefits of the financial futures contracts and may realize a loss. The use of futures transactions involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the underlying hedged assets. Since futures contracts are exchange-traded, there is minimal counterparty credit risk to the Fund since the exchanges’ clearinghouse acts as counterparty to all exchange-traded futures and guarantees the futures contracts against default.

Bank Loans: The Fund may invest in bank loans. Bank loans include fixed and floating rate loans that are privately negotiated between a corporate borrower and one or more financial

PGIM Global Total Return Fund, Inc. 109

Notes to Financial Statements (unaudited) (continued)

institutions, including, but not limited to, term loans, revolvers, and other instruments issued in the bank loan market. The Fund may acquire interests in loans directly (by way of assignment from the selling institution) or indirectly (by way of the purchase of a participation interest from the selling institution). Under a bank loan assignment, the Fund generally will succeed to all the rights and obligations of an assigning lending institution and becomes a lender under the loan agreement with the relevant borrower in connection with that loan. Under a bank loan participation, the Fund generally will have a contractual relationship only with the lender, not with the relevant borrower. As a result, the Fund generally will have the right to receive payments of principal, interest, and any fees to which it is entitled only from the lender selling the participation and only upon receipt by the lender of the payments from the relevant borrower. The Fund may not directly benefit from the collateral supporting the debt obligation in which it has purchased the participation. As a result, the Fund will assume the credit risk of both the borrower and the institution selling the participation to the Fund.

Swap Agreements: The Fund may enter into credit default, interest rate and other types of swap agreements. A swap agreement is an agreement to exchange the return generated by one instrument for the return generated by another instrument. Swap agreements are negotiated in the OTC market and may be executed either directly with counterparty (“OTC-traded”) or through a central clearing facility, such as a registered exchange. Swap agreements are valued daily at current market value and any change in value is included in the net unrealized appreciation (depreciation) on swap agreements. Centrally cleared swaps pay or receive an amount known as “variation margin”, based on daily changes in the valuation of the swap contract. Any upfront premiums paid and received are shown as swap premiums paid and swap premiums received in the Statement of Assets and Liabilities. Risk of loss may exceed amounts recognized on the Statement of Assets and Liabilities. Swap agreements outstanding at period end, if any, are listed on the Schedule of Investments.

Interest Rate Swaps: Interest rate swaps represent an agreement between counterparties to exchange cash flows based on the difference between two interest rates, applied to a notional principal amount for a specified period. The Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objective. The Fund used interest rate swaps to maintain its ability to generate steady cash flow by receiving a stream of fixed-rate payments and to increase exposure to prevailing market rates by receiving floating rate payments. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net present value of the cash flows to be received from the counterparty over the contract’s remaining life.

Inflation Swaps: The Fund entered into inflation swap agreements to protect against fluctuations in inflation rates. Inflation swaps are characterized by one party paying a fixed

110

rate in exchange for a floating rate that is derived from an inflation index, such as the

Consumer Price Index or UK Retail Price Index. Inflation swaps subject the Fund to interest rate risk.

Credit Default Swaps (“CDS”): CDS involve one party (the protection buyer) making a stream of payments to another party (the protection seller) in exchange for the right to receive a specified payment in the event of a default or as a result of a default (collectively a “credit event”) for the referenced entity (typically corporate issues or sovereign issues of an emerging country) on its obligation; or in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising a credit index.

The Fund is subject to credit risk in the normal course of pursuing its investment objectives, and as such, has entered into CDS contracts 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. The Fund’s maximum risk of loss from counterparty credit risk for purchased CDS is the inability of the counterparty to honor the contract up to the notional value due to a credit event.

As a seller of protection on credit default swap agreements, the Fund generally receives an agreed upon payment from the buyer of protection throughout the term of the swap, provided no credit event occurs. As the seller, the Fund effectively increases its investment risk because, in addition to its total net assets, the Fund may be subject to investment exposure on the notional amount of the swap.

The maximum amount of the payment that the Fund, as a seller of protection, could be required to make under a credit default swap agreement would be equal to the notional amount of the underlying security or index contract as a result of a credit event. This potential amount will be partially offset by any recovery values of the respective referenced obligations, or net amounts received from the settlement of buy protection credit default swap agreements which the Fund entered into for the same referenced entity or index. As a buyer of protection, the Fund generally receives an amount up to the notional value of the swap if a credit event occurs.

Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues of an emerging country as of period end are disclosed in the footnotes to the Schedule of Investments, if applicable. These spreads serve as indicators of the current status of the payment/performance risk and represent the likelihood of default risk for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to enter into the agreement. For credit default swap agreements on asset-backed securities and credit indices, the quoted

PGIM Global Total Return Fund, Inc. 111

Notes to Financial Statements (unaudited) (continued)

market prices and resulting values serve as indicators of the current status of the payment/performance risk. Wider credit spreads and increased market value in absolute terms, when compared to the notional amount of the swap, 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.

Currency Swaps: The Fund entered into currency swap agreements primarily to gain yield exposure on foreign bonds. Currency swap agreements involve two parties exchanging two different currencies with an agreement to reverse the exchange at a later date at specified exchange rates.

Total Return Swaps: In a total return swap, one party receives payments based on the market value of the security or the commodity involved, or total return of a specific referenced asset, such as an equity, index or bond, and in return pays a fixed amount. The Fund is subject to risk exposures associated with the referenced asset in the normal course of pursuing its investment objectives. The Fund entered into total return swaps to manage its exposure to a security or an index. The Fund’s maximum risk of loss from counterparty credit risk is the change in the value of the security, in the Fund’s favor, from the point of entering into the contract.

Master Netting Arrangements: The Fund is subject to various Master Agreements, or netting arrangements, with select counterparties. These are agreements which a subadviser may have negotiated and entered into on behalf of the Fund. A master netting arrangement between the Fund and the counterparty permits the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received; and by the receipt of collateral from the counterparty by the Fund to cover the Fund’s exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable. In addition to master netting arrangements, the right to set-off exists when all the conditions are met such that each of the parties owes the other determinable amounts, the reporting party has the right to set-off the amount owed with the amount owed by the other party, the reporting party intends to set-off and the right of set-off is enforceable by law. During the reporting period, there was no intention to settle on a net basis and all amounts are presented on a gross basis on the Statement of Assets and Liabilities.

The Fund is a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements with certain counterparties that govern OTC derivative and foreign exchange contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral

112

posted to the Fund is held in a segregated account by the Fund’s custodian and with respect to those amounts which can be sold or re-pledged, is presented in the Schedule of Investments. Collateral pledged by the Fund is segregated by the Fund’s custodian and identified in the Schedule of Investments. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by the Fund and the applicable counterparty. Collateral requirements are determined based on the Fund’s net position with each counterparty. Termination events applicable to the Fund may occur upon a decline in the Fund’s net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty’s long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the Fund’s counterparties to elect early termination could impact the Fund’s future derivative activity.

In addition to each instrument’s primary underlying risk exposure (e.g. interest rate, credit, equity or foreign exchange, etc.), swap agreements involve, to varying degrees, elements of credit, market and documentation risk. Such risks involve the possibility that no liquid market for these agreements will exist, the counterparty to the agreement may default on its obligation to perform or disagree on the contractual terms of the agreement, and changes in net interest rates will be unfavorable. In connection with these agreements, securities in the portfolio may be identified or received as collateral from the counterparty in accordance with the terms of the respective swap agreements to provide or receive assets of value and to serve as recourse in the event of default or bankruptcy/insolvency of either party. Such OTC derivative agreements include conditions which, when materialized, give the counterparty the right to cause an early termination of the transactions under those agreements. Any election by the counterparty for early termination of the contract(s) may impact the amounts reported on financial statements.

As of April 30, 2018, the Fund has not met conditions under such agreements which give the counterparty the right to call for an early termination.

Forward currency contracts, forward rate agreements, written options, short sales, swaps and financial futures contracts involve elements of both market and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities. Such risks may be mitigated by engaging in master netting arrangements.

Payment-In-Kind: The Fund may invest in the open market or receive pursuant to debt restructuring, securities that pay-in-kind (PIK) the interest due on such debt instruments. The PIK interest, computed at the contractual rate specified, is added to the existing principal balance of the debt when issued bonds have same terms as the bond or recorded as a separate bond when terms are different from the existing debt, and is recorded as interest income.

PGIM Global Total Return Fund, Inc. 113

Notes to Financial Statements (unaudited) (continued)

Securities Lending: The Fund may lend its portfolio securities to banks and broker-dealers. The loans are secured by collateral at least equal to the market value of the securities loaned. Collateral pledged by each borrower is invested in an affiliated money market fund and is marked to market daily, based on the previous day’s market value, such that the value of the collateral exceeds the value of the loaned securities. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the financial statements may reflect a collateral value that is less than the market value of the loaned securities. Such shortfall is remedied as described above. Loans are subject to termination at the option of the borrower or the Fund. Upon termination of the loan, the borrower will return to the Fund securities identical to the loaned securities. Should the borrower of the securities fail financially, the Fund has the right to repurchase the securities in the open market using the collateral.

The Fund recognizes income, net of any rebate and securities lending agent fees, for lending its securities in the form of fees or interest on the investment of any cash received as collateral. The borrower receives all interest and dividends from the securities loaned and such payments are passed back to the lender in amounts equivalent thereto. The Fund also continues to recognize any unrealized gain (loss) in the market price of the securities loaned and on the change in the value of the collateral invested that may occur during the term of the loan. In addition, realized gain (loss) is recognized on changes in the value of the collateral invested upon liquidation of the collateral. Net earnings from securities lending are disclosed on the Statement of Operations as “Income from securities lending, net”.

Concentration of Risk: The ability of debt securities issuers (other than those issued or guaranteed by the U.S. Government) held by the Fund to meet their obligations may be affected by the economic or political developments in a specific industry, region or country. Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of domestic origin as a result of, among other factors, the possibility of political or economic instability or the level of governmental supervision and regulation of foreign securities markets.

Securities Transactions and Net Investment Income: Securities transactions are recorded on the trade date. Realized gains (losses) from investment and currency transactions are calculated on the specific identification method. Dividend income is recorded on the ex-date. Interest income, including amortization of premium and accretion of discount on debt securities, as required, is recorded on the accrual basis. Expenses are recorded on an accrual basis, which may require the use of certain estimates by management that may differ from actual. Net investment income or loss (other than class specific expenses and waivers, which are allocated as noted below) and unrealized and realized gains (losses) are allocated daily to each class of shares based upon the relative proportion of adjusted net assets of each class at the beginning of the day.

114

Class specific expenses and waivers, where applicable, are charged to the respective share classes. Class specific expenses include distribution fees and distribution fee waivers, transfer agent’s fees and expenses, registration fees and fee waivers and/or expense reimbursements.

Taxes: It is the Fund’s policy to continue to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable net investment income and capital gains, if any, to its shareholders. Therefore, no federal income tax provision is required. Withholding taxes on foreign dividends, interest and capital gains, if any, are recorded, net of reclaimable amounts, at the time the related income is earned.

Dividends and Distributions: The Fund expects to declare dividends of its net investment income daily and pay such dividends monthly. Distributions of net realized capital and currency gains, if any, are declared and paid at least annually. Dividends and distributions to shareholders, which are determined in accordance with federal income tax regulations and which may differ from generally accepted accounting principles, are recorded on the ex-date. Permanent book/tax differences relating to income and gain(loss) are reclassified amongst undistributed net investment income, accumulated net realized gain (loss) and paid-in capital in excess of par, as appropriate.

Estimates: The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

2. Agreements

The Fund has a management agreement with PGIM Investments. Pursuant to this agreement, PGIM Investments has responsibility for all investment advisory services and supervises the Subadviser’s performance of such services. In addition, under the management agreement, PGIM Investments provides all of the administrative functions necessary for the organization, operation and management of the Fund. PGIM Investments administers the corporate affairs of the Fund and, in connection therewith, furnishes the Fund with office facilities, together with those ordinary clerical and bookkeeping services which are not being furnished by, the Fund’s custodian (the Custodian), and the Fund’s transfer agent. PGIM Investments is also responsible for the staffing and management of dedicated groups of legal, marketing, compliance and related personnel necessary for the operation of the Fund. The legal, marketing, compliance and related personnel are also responsible for the management and oversight of the various service providers to the Fund, including, but not limited to, the custodian, transfer agent, and accounting agent.

PGIM Investments has entered into a subadvisory agreement with PGIM, Inc., which provides subadvisory services to the Fund through its PGIM Fixed Income unit. The subadvisory agreement provides that PGIM, Inc. will furnish investment advisory services in connection with the management of the Fund. In connection therewith, PGIM, Inc. is obligated to keep certain books and records of the Fund. PGIM Investments pays for the services of PGIM, Inc., the cost of compensation of officers of the Fund, occupancy and certain clerical and bookkeeping costs of the Fund. The Fund bears all other costs and expenses.

PGIM Global Total Return Fund, Inc. 115

Notes to Financial Statements (unaudited) (continued)

The management fee paid to PGIM Investments is accrued daily and payable monthly at an annual rate of 0.50% of the Fund’s average daily net assets up to $2 billion and 0.485% of such assets in excess of $2 billion. The effective management fee rate before any waivers and/or expense reimbursements, was 0.50% for the six months ended April 30, 2018.

PGIM Investments has contractually agreed, through February 29, 2020, to limit Total Annual Fund Operating Expenses after fee waivers and/or expense reimbursements to 0.88% of average daily net assets for Class A shares, 1.63% of average daily net assets for Class B shares, 1.63% of average daily net assets for Class C shares, 0.63% of average daily net assets for Class Z shares, 1.08% of average daily net assets for Class R2 shares, 0.83% of average daily net assets for Class R4 shares, and 0.58% of average daily net assets for Class R6 shares. This contractual waiver excludes interest, brokerage, taxes (such as income and foreign withholding taxes, stamp duty and deferred tax expenses), acquired fund fees and expenses, extraordinary expenses, and certain other Fund expenses such as dividend and interest expense and broker charges on short sales. Fees and/or expenses waived and/or reimbursed by PGIM Investments may be recouped by PGIM Investments within the same fiscal year during which such waiver and/or reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at the time of the recoupment for that fiscal year. The effective management fee rate, net of waivers and/or expense reimbursements, was 0.46% for the six months ended April 30, 2018.

The Fund has a distribution agreement with Prudential Investment Management Services LLC (“PIMS”) which acts as the distributor of the Class A, Class B, Class C, Class Z, Class R2, Class R4 and Class R6 shares of the Fund. The Fund compensates PIMS for distributing and servicing the Fund’s Class A, Class B, Class C and Class R2 shares, pursuant to the plans of distribution (the “Distribution Plans”), regardless of expenses actually incurred by PIMS. The distribution fees are accrued daily and payable monthly. No distribution or service fees are paid to PIMS as distributor of the Class Z, Class R4 or Class R6 shares of the Fund.

Pursuant to the Distribution Plans, the Fund compensates PIMS for distribution related activities at an annual rate of up to 0.25%, 1%, 1% and 0.25% of the average daily net assets of the Class A, Class B, Class C and Class R2 shares, respectively.

The Fund has adopted a Shareholder Services Plan with respect to Class R2 and Class R4 shares. Under the terms of the Shareholder Services Plan, Class R2 and Class R4 shares are authorized to pay to Prudential Mutual Fund Services LLC (“PMFS”), its affiliates or third-party service providers, as compensation for services rendered to the shareholders of such Class R2 or Class R4 shares, a shareholder service fee at an annual rate of 0.10% of the average daily net assets attributable to Class R2 and Class R4 shares. The shareholder service fee is accrued daily and paid monthly.

116

PIMS has advised the Fund that it has received $292,186 in front-end sales charges resulting from sales of Class A shares, during the six months ended April 30, 2018. From these fees, PIMS paid such sales charges to broker-dealers, which in turn paid commissions to sales persons and incurred other distribution costs.

PIMS has advised the Fund that for the six months ended April 30, 2018 it received $4,354, $594 and $2,022 in contingent deferred sales charges imposed upon redemptions by certain Class A, Class B and Class C shareholders, respectively.

PGIM Investments, PGIM, Inc. and PIMS are indirect, wholly-owned subsidiaries of Prudential Financial, Inc. (“Prudential”).

3. Other Transactions with Affiliates

Prudential Mutual Fund Services LLC (“PMFS”), an affiliate of PGIM Investments and an indirect, wholly-owned subsidiary of Prudential, serves as the Fund’s transfer agent. Transfer agent’s fees and expenses in the Statement of Operations include certain out-of-pocket expenses paid to non-affiliates, where applicable.

The Fund may enter into certain securities purchase or sale transactions under Board approved Rule 17a-7 procedures. Rule 17a-7 is an exemptive rule under the 1940 Act, that permits purchase and sale transactions among affiliated investment companies, or between an investment company and a person that is affiliated solely by reason of having a common (or affiliated) investment adviser, common directors, and/or common officers. Such transactions are subject to ratification by the Board. For the reporting period ended April 30, 2018 no such transactions were entered into by the Fund.

The Fund may invest its overnight sweep cash in the PGIM Core Ultra Short Bond Fund (the “Core Fund”), and its securities lending cash collateral in the PGIM Institutional Money Market Fund (the “Money Market Fund”), each a series of Prudential Investment Portfolios 2, registered under the 1940 Act and managed by PGIM Investments. For the reporting period ended April 30, 2018, PGIM, Inc. was compensated $9,549 by PGIM Investments for managing the Fund’s securities lending cash collateral as subadviser to the Money Market Fund. Earnings from the Core Fund and Money Market Fund are disclosed on the Statement of Operations as “Affiliated dividend income” and “Income from securities lending, net”, respectively.

4. Portfolio Securities

The aggregate cost of purchases and proceeds from sales of portfolio securities (excluding short-term investments and U.S. Government securities) for the six months ended April 30, 2018, were $804,849,669 and $184,752,056, respectively.

PGIM Global Total Return Fund, Inc. 117

Notes to Financial Statements (unaudited) (continued)

A summary of the cost of purchases and proceeds from sales of shares of affiliated mutual funds for the six months ended April 30, 2018, is presented as follows:

Affiliated Mutual Funds*	Value, Beginning of Period		Cost of Purchases		Proceeds from Sales		Change in Unrealized Gain (Loss)		Realized Gain (Loss)			Value, End of Period		Shares, End of Period		Dividend Income
PGIM Core Ultra Short Bond Fund	$	29,860,170	$	327,490,001	$	244,354,248	$	—	$	—		$	112,995,923		112,995,923	$	407,301
PGIM Institutional Money Market Fund		23,169,196		94,665,750		73,488,717		1,483		(2,454	)		44,345,258		44,345,258		11,947
	$	53,029,366	$	422,155,751	$	317,842,965	$	1,483	$	(2,454	)	$	157,341,181			$	419,248

* The Funds did not have any capital gain distributions during the reporting period.

5. Tax Information

The United States federal income tax basis of the Fund’s investments and the net unrealized appreciation as of April 30, 2018 were as follows:

Tax Basis	$	1,741,001,830
Gross Unrealized Appreciation		46,129,270
Gross Unrealized Depreciation		(3,502,729	)
Net Unrealized Appreciation	$	42,626,541

The book basis may differ from tax basis due to certain tax-related adjustments.

Management has analyzed the Fund’s tax positions taken on federal, state and local income tax returns for all open tax years and has concluded that no provision for income tax is required in the Fund’s financial statements for the current reporting period. The Fund’s federal, state and local income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

118

6. Capital and Ownership

The Fund offers Class A, Class B, Class C, Class Z, Class R2, Class R4 and Class R6 shares. Class A shares are sold with a maximum front-end sales charge of 4.50%. Investors who purchase $1 million or more of Class A shares and sell these shares within 12 months of purchase are subject to a contingent deferred sales charge (“CDSC”) of 1%, although they are not subject to an initial sales charge. The Class A CDSC is waived for certain retirement and/or benefit plans. A special exchange privilege is also available for shareholders who qualified to purchase Class A shares at net asset value. Class B shares are sold with a CDSC which declines from 5% to zero depending on the period of time the shares are held. Class B shares automatically convert to Class A shares on a quarterly basis approximately seven years after purchase. Class B shares are closed to new purchases. Class C shares are sold with a CDSC of 1% on sales made within 12 months of purchase. Class Z and Class R6 shares are not subject to any sales or redemption charge and are offered exclusively for sale to a limited group of investors.

Under certain circumstances, an exchange may be made from specified share classes of the Fund to one or more other share classes of the Fund as presented in the table of transactions in shares of common stock.

There are 2 billion shares of common stock, at $0.01 par value per share, authorized and divided into eight classes, designated Class A, Class B, Class C, Class Z, Class R2, Class R4, Class T and Class R6, each of which consists of 200 million, 50 million, 320 million, 650 million, 90 million, 90 million, 125 million and 475 million authorized shares, respectively.

The Fund currently does not have any Class T shares outstanding.

As of April 30, 2018, Prudential, through its affiliate entities, owned 1,463 Class R2 shares and 1,464 Class R4 shares of the Fund. At reporting period end, five shareholders of record held 66% of the Fund’s outstanding shares.

PGIM Global Total Return Fund, Inc. 119

Notes to Financial Statements (unaudited) (continued)

Transactions in shares of common stock were as follows:

Class A	Shares			Amount
Six months ended April 30, 2018:
Shares sold		6,838,963		$	46,872,872
Shares issued in reinvestment of dividends and distributions		369,363			2,531,792
Shares reacquired		(2,666,176	)		(18,271,073	)
Net increase (decrease) in shares outstanding before conversion		4,542,150			31,133,591
Shares issued upon conversion from other share class(es)		200,589			1,371,233
Shares reacquired upon conversion into other share class(es)		(1,704,226	)		(11,685,080	)
Net increase (decrease) in shares outstanding		3,038,513		$	20,819,744
Year ended October 31, 2017:
Shares sold		11,155,719		$	72,006,965
Shares issued in reinvestment of dividends and distributions		789,634			5,161,349
Shares reacquired		(7,620,733	)		(49,337,578	)
Net increase (decrease) in shares outstanding before conversion		4,324,620			27,830,736
Shares issued upon conversion from other share class(es)		165,758			1,072,429
Shares reacquired upon conversion into other share class(es)		(9,124,231	)		(57,980,151	)
Net increase (decrease) in shares outstanding		(4,633,853	)	$	(29,076,986	)
Class B
Six months ended April 30, 2018:
Shares sold		35,177		$	241,563
Shares issued in reinvestment of dividends and distributions		4,252			29,139
Shares reacquired		(34,935	)		(238,797	)
Net increase (decrease) in shares outstanding before conversion		4,494			31,905
Shares reacquired upon conversion into other share class(es)		(28,960	)		(197,665	)
Net increase (decrease) in shares outstanding		(24,466	)	$	(165,760	)
Year ended October 31, 2017:
Shares sold		23,153		$	152,865
Shares issued in reinvestment of dividends and distributions		11,231			73,317
Shares reacquired		(130,970	)		(852,802	)
Net increase (decrease) in shares outstanding before conversion		(96,586	)		(626,620	)
Shares reacquired upon conversion into other share class(es)		(60,036	)		(386,018	)
Net increase (decrease) in shares outstanding		(156,622	)	$	(1,012,638	)
Class C
Six months ended April 30, 2018:
Shares sold		1,685,957		$	11,542,570
Shares issued in reinvestment of dividends and distributions		50,267			343,969
Shares reacquired		(549,832	)		(3,758,861	)
Net increase (decrease) in shares outstanding before conversion		1,186,392			8,127,678
Shares reacquired upon conversion into other share class(es)		(150,571	)		(1,030,949	)
Net increase (decrease) in shares outstanding		1,035,821		$	7,096,729
Year ended October 31, 2017:
Shares sold		1,120,199		$	7,342,949
Shares issued in reinvestment of dividends and distributions		101,400			661,926
Shares reacquired		(1,543,694	)		(9,912,641	)
Net increase (decrease) in shares outstanding before conversion		(322,095	)		(1,907,766	)
Shares reacquired upon conversion into other share class(es)		(406,239	)		(2,637,763	)
Net increase (decrease) in shares outstanding		(728,334	)	$	(4,545,529	)

120

Class Z	Shares			Amount
Six months ended April 30, 2018:
Shares sold		62,828,098		$	433,945,828
Shares issued in reinvestment of dividends and distributions		1,000,885			6,892,538
Shares reacquired		(10,960,434	)		(75,427,018	)
Net increase (decrease) in shares outstanding before conversion		52,868,549			365,411,348
Shares issued upon conversion from other share class(es)		1,808,341			12,451,606
Shares reacquired upon conversion into other share class(es)		(169,659	)		(1,165,461	)
Net increase (decrease) in shares outstanding		54,507,231		$	376,697,493
Year ended October 31, 2017:
Shares sold		45,817,966		$	299,229,830
Shares issued in reinvestment of dividends and distributions		1,346,439			8,880,761
Shares reacquired		(27,444,584	)		(180,541,029	)
Net increase (decrease) in shares outstanding before conversion		19,719,821			127,569,562
Shares issued upon conversion from other shares class(es)		9,536,135			60,893,400
Shares reacquired upon conversion into other share class(es)		(17,252,364	)		(110,426,883	)
Net increase (decrease) in shares outstanding		12,003,592		$	78,036,079
Class R2
Period* ended April 30, 2018:
Shares sold		1,449		$	10,000
Shares issued in reinvestment of dividends and distributions		14			95
Net increase (decrease) in shares outstanding		1,463		$	10,095
Class R4
Period* ended April 30, 2018:
Shares sold		1,449		$	10,000
Shares issued in reinvestment of dividends and distributions		15			103
Net increase (decrease) in shares outstanding		1,464		$	10,103
Class R6
Six months ended April 30, 2018:
Shares sold		37,882,591		$	262,625,374
Shares issued in reinvestment of dividends and distributions		1,302,750			9,032,331
Shares reacquired		(11,454,110	)		(79,457,676	)
Net increase (decrease) in shares outstanding before conversion		27,731,231			192,200,029
Shares issued upon conversion from other share class(es)		62,213			432,256
Shares reacquired upon conversion into other share class(es)		(25,418	)		(175,940	)
Net increase (decrease) in shares outstanding		27,768,026		$	192,456,345
Year ended October 31, 2017:
Shares sold		47,261,389		$	313,958,980
Shares issued in reinvestment of dividends and distributions		1,444,921			9,699,415
Shares reacquired		(7,318,705	)		(48,729,428	)
Net increase (decrease) in shares outstanding before conversion		41,387,605			274,928,967
Shares issued upon conversion from other share class(es)		17,086,484			110,223,269
Shares reacquired upon conversion into other share class(es)		(117,532	)		(758,283	)
Net increase (decrease) in shares outstanding		58,356,557		$	384,393,953

* Commencement of offering was December 27, 2017.

PGIM Global Total Return Fund, Inc. 121

Notes to Financial Statements (unaudited) (continued)

7. Borrowings

The Fund, along with other affiliated registered investment companies (the “Funds”), is a party to a Syndicated Credit Agreement (“SCA”) with a group of banks. The purpose of the SCA is to provide an alternative source of temporary funding for capital share redemptions. The SCA provides for a commitment of $900 million for the period October 5, 2017 through October 4, 2018. The Funds pay an annualized commitment fee of 0.15% of the unused portion of the SCA. The Fund’s portion of the commitment fee for the unused amount, allocated based upon a method approved by the Board, is accrued daily and paid quarterly. The interest on borrowings under the SCAs is paid monthly and at a per annum interest rate based upon a contractual spread plus the higher of (1) the effective federal funds rate, (2) the 1-month LIBOR rate or (3) zero percent.

Other affiliated registered investment companies that are parties to the SCA include portfolios that are subject to a predetermined mathematical formula used to manage certain benefit guarantees offered under variable annuity contracts. The formula may result in large scale asset flows into and out of these portfolios. Consequently, these portfolios may be more likely to utilize the SCA for purposes of funding redemptions. It may be possible for those portfolios to fully exhaust the committed amount of the SCA, thereby requiring the Manager to allocate available funding per a Board-approved methodology designed to treat the Funds in the SCA equitably.

The Fund did not utilize the SCA during the reporting period ended April 30, 2018.

122

Financial Highlights (unaudited)

Class A Shares
	Six Months Ended April 30,			Year Ended October 31,
	2018			2017			2016			2015			2014			2013
Per Share Operating Performance(a):
Net Asset Value, Beginning of Period		$6.75			$6.64			$6.45			$6.88			$6.92			$7.21
Income (loss) from investment operations:
Net investment income (loss)		0.07			0.14			0.17			0.17			0.19			0.21
Net realized and unrealized gain (loss) on investment and foreign currency transactions		0.06			0.19			0.25			(0.37	)		0.06			(0.21	)
Total from investment operations		0.13			0.33			0.42			(0.20	)		0.25			-	(e)
Less Dividends and Distributions:
Dividends from net investment income*		(0.10	)		(0.13	)		(0.12	)		(0.04	)		(0.15	)		(0.18	)
Tax return of capital distributions		-			(0.05	)		(0.03	)		(0.19	)		(0.14	)		(0.11	)
Distributions from net realized gains		-			(0.04	)		(0.08	)		-			-			-
Total dividends and distributions		(0.10	)		(0.22	)		(0.23	)		(0.23	)		(0.29	)		(0.29	)
Net asset value, end of period		$6.78			$6.75			$6.64			$6.45			$6.88			$6.92
Total Return(b):		1.97%			5.12%			6.60%			(2.90)%			3.67%			0.07%
Ratios/Supplemental Data:
Net assets, end of period (000)		$196,242			$174,732			$202,770			$157,404			$190,394			$161,099
Average net assets (000)		$185,613			$175,014			$169,299			$175,942			$163,155			$180,342
Ratios to average net assets(c)(d):
Expenses after waivers and/or expense reimbursement		0.88%	(f)		0.88%			0.97%			1.05%			1.25%			1.23%
Expenses before waivers and/or expense reimbursement		1.00%	(f)		0.99%			1.14%			1.24%			1.30%			1.28%
Net investment income (loss)		2.00%	(f)		2.12%			2.57%			2.50%			2.79%			2.99%
Portfolio turnover rate(h)		32%	(g)		75%			86%			95%			65%			79%

(a) Calculated based on average shares outstanding during the period.

(b) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) The distributor of the Fund had contractually agreed to limit its distribution and service (12b-1) fees to 0.25% of the average daily net assets through March 8, 2015. Effective March 9, 2015, the contractual distribution and service (12b-1) fees were reduced from 0.30% to 0.25% of the average daily net assets.

(e) Less than $0.005 per share.

(f) Annualized.

(g) Not annualized.

(h) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

* Dividends from net investment income may include other items that are ordinary income for tax purposes.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 123

Financial Highlights (unaudited) (continued)

Class B Shares
	Six Months Ended April 30,			Year Ended October 31,
	2018			2017			2016			2015			2014			2013
Per Share Operating Performance(a):
Net Asset Value, Beginning of Period		$6.74			$6.64			$6.44			$6.88			$6.92			$7.21
Income (loss) from investment operations:
Net investment income (loss)		0.04			0.09			0.12			0.12			0.14			0.16
Net realized and unrealized gain (loss) on investment and foreign currency transactions		0.08			0.18			0.26			(0.38	)		0.06			(0.21	)
Total from investment operations		0.12			0.27			0.38			(0.26	)		0.20			(0.05	)
Less Dividends and Distributions:
Dividends from net investment income*		(0.08	)		(0.10	)		(0.08	)		(0.03	)		(0.10	)		(0.13	)
Tax return of capital distributions		-			(0.03	)		(0.02	)		(0.15	)		(0.14	)		(0.11	)
Distributions from net realized gains		-			(0.04	)		(0.08	)		-			-			-
Total dividends and distributions		(0.08	)		(0.17	)		(0.18	)		(0.18	)		(0.24	)		(0.24	)
Net asset value, end of period		$6.78			$6.74			$6.64			$6.44			$6.88			$6.92
Total Return(b):		1.75%			4.20%			5.99%			(3.75)%			2.90%			(0.68)%
Ratios/Supplemental Data:
Net assets, end of period (000)		$3,063			$3,212			$4,202			$4,660			$6,548			$7,084
Average net assets (000)		$3,148			$3,559			$4,457			$5,469			$6,790			$7,299
Ratios to average net assets(c):
Expenses after waivers and/or expense reimbursement		1.63%	(d)		1.63%			1.72%			1.80%			2.00%			1.98%
Expenses before waivers and/or expense reimbursement		2.41%	(d)		1.74%			1.89%			1.97%			2.00%			1.98%
Net investment income (loss)		1.26%	(d)		1.39%			1.85%			1.77%			2.05%			2.25%
Portfolio turnover rate(f)		32%	(e)		75%			86%			95%			65%			79%

(a) Calculated based on average shares outstanding during the period.

(b) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) Not annualized.

(f) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

* Dividends from net investment income may include other items that are ordinary income for tax purposes.

See Notes to Financial Statements.

124

Class C Shares
	Six Months Ended April 30,			Year Ended October 31,
	2018			2017			2016			2015			2014			2013
Per Share Operating Performance(a):
Net Asset Value, Beginning of Period		$6.73			$6.63			$6.44			$6.86			$6.90			$7.19
Income (loss) from investment operations:
Net investment income (loss)		0.04			0.09			0.12			0.12			0.14			0.16
Net realized and unrealized gain (loss) on investment and foreign currency transactions		0.08			0.18			0.25			(0.36	)		0.06			(0.21	)
Total from investment operations		0.12			0.27			0.37			(0.24	)		0.20			(0.05	)
Less Dividends and Distributions:
Dividends from net investment income*		(0.08	)		(0.10	)		(0.08	)		(0.03	)		(0.10	)		(0.13	)
Tax return of capital distributions		-			(0.03	)		(0.02	)		(0.15	)		(0.14	)		(0.11	)
Distributions from net realized gains		-			(0.04	)		(0.08	)		-			-			-
Total dividends and distributions		(0.08	)		(0.17	)		(0.18	)		(0.18	)		(0.24	)		(0.24	)
Net asset value, end of period		$6.77			$6.73			$6.63			$6.44			$6.86			$6.90
Total Return(b):		1.75%			4.19%			5.82%			(3.48)%			2.90%			(0.68)%
Ratios/Supplemental Data:
Net assets, end of period (000)		$38,688			$31,509			$35,848			$29,427			$34,691			$31,424
Average net assets (000)		$35,000			$31,191			$30,873			$33,144			$30,378			$36,071
Ratios to average net assets(c):
Expenses after waivers and/or expense reimbursement		1.63%	(d)		1.63%			1.72%			1.80%			2.00%			1.98%
Expenses before waivers and/or expense reimbursement		1.72%	(d)		1.74%			1.89%			1.97%			2.00%			1.98%
Net investment income (loss)		1.26%	(d)		1.39%			1.83%			1.76%			2.05%			2.24%
Portfolio turnover rate(f)		32%	(e)		75%			86%			95%			65%			79%

(a) Calculated based on average shares outstanding during the period.

(b) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) Not annualized.

(f) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

* Dividends from net investment income may include other items that are ordinary income for tax purposes.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 125

Financial Highlights (unaudited) (continued)

Class Z Shares
	Six Months Ended April 30,			Year Ended October 31,
	2018			2017			2016			2015			2014			2013
Per Share Operating Performance(a):
Net Asset Value, Beginning of Period		$6.78			$6.67			$6.47			$6.90			$6.94			$7.23
Income (loss) from investment operations:
Net investment income (loss)		0.08			0.15			0.18			0.18			0.21			0.22
Net realized and unrealized gain (loss) on investment and foreign currency transactions		0.07			0.20			0.27			(0.36	)		0.06			(0.20	)
Total from investment operations		0.15			0.35			0.45			(0.18	)		0.27			0.02
Less Dividends and Distributions:
Dividends from net investment income*		(0.11	)		(0.15	)		(0.14	)		(0.05	)		(0.17	)		(0.20	)
Tax return of capital distributions		-			(0.05	)		(0.03	)		(0.20	)		(0.14	)		(0.11	)
Distributions from net realized gains		-			(0.04	)		(0.08	)		-			-			-
Total dividends and distributions		(0.11	)		(0.24	)		(0.25	)		(0.25	)		(0.31	)		(0.31	)
Net asset value, end of period		$6.82			$6.78			$6.67			$6.47			$6.90			$6.94
Total Return(b):		2.24%			5.35%			7.00%			(2.66)%			3.92%			0.31%
Ratios/Supplemental Data:
Net assets, end of period (000)		$763,833			$390,194			$303,960			$115,119			$119,628			$56,817
Average net assets (000)		$506,762			$340,627			$153,146			$129,045			$71,247			$81,390
Ratios to average net assets(c):
Expenses after waivers and/or expense reimbursement		0.63%	(d)		0.63%			0.72%			0.80%			1.00%			0.98%
Expenses before waivers and/or expense reimbursement		0.66%	(d)		0.74%			0.89%			0.96%			1.00%			0.98%
Net investment income (loss)		2.24%	(d)		2.35%			2.77%			2.73%			3.00%			3.18%
Portfolio turnover rate(f)		32%	(e)		75%			86%			95%			65%			79%

(a) Calculated based on average shares outstanding during the period.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) Not annualized.

(f) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

* Dividends from net investment income may include other items that are ordinary income for tax purposes.

See Notes to Financial Statements.

126

Class R2 Shares
	December 27, 2017(d) through April 30, 2018
Per Share Operating Performance(a):
Net Asset Value, Beginning of Period		$6.90
Income (loss) from investment operations:
Net investment income (loss)		0.03
Net realized and unrealized gain (loss) on investment and foreign currency transactions		-	(e)
Total from investment operations		0.03
Less Dividends:
Dividends from net investment income*		(0.07	)
Net asset value, end of period		$6.86
Total Return(b):		0.36%
Ratios/Supplemental Data:
Net assets, end of period (000)		$10
Average net assets (000)		$10
Ratios to average net assets(c):
Expenses after waivers and/or expense reimbursement		1.08%	(f)
Expenses before waivers and/or expense reimbursement		189.48%	(f)
Net investment income (loss)		1.24%	(f)
Portfolio turnover rate(h)		32%	(g)

(a) Calculated based upon average shares outstanding during the period.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Commencement of offering.

(e) Less than $0.005.

(f) Annualized.

(g) Not annualized.

(h) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

* Dividends from net investment income may include other items that are ordinary income for tax purposes.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 127

Financial Highlights (unaudited) (continued)

Class R4 Shares
	December 27, 2017(d) through April 30, 2018
Per Share Operating Performance(a):
Net Asset Value, Beginning of Period		$6.90
Income (loss) from investment operations:
Net investment income (loss)		0.04
Net realized and unrealized gain (loss) on investment and foreign currency transactions		(0.01	)
Total from investment operations		0.03
Less Dividends:
Dividends from net investment income*		(0.07	)
Net asset value, end of period		$6.86
Total Return(b):		0.44%
Ratios/Supplemental Data:
Net assets, end of period (000)		$10
Average net assets (000)		$10
Ratios to average net assets(c):
Expenses after waivers and/or expense reimbursement		0.83%	(e)
Expenses before waivers and/or expense reimbursement		189.17%	(e)
Net investment income (loss)		1.49%	(e)
Portfolio turnover rate(g)		32%	(f)

(a) Calculated based upon average shares outstanding during the period.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Commencement of offering.

(e) Annualized.

(f) Not annualized.

(g) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

* Dividends from net investment income may include other items that are ordinary income for tax purposes.

See Notes to Financial Statements.

128

Class R6 Shares
	Six Months Ended April 30,			Year Ended October 31,
	2018			2017			2016			2015			2014			2013
Per Share Operating Performance(a):
Net Asset Value, Beginning of Period		$6.82			$6.72			$6.53			$6.97			$6.94			$7.23
Income (loss) from investment operations:
Net investment income (loss)		0.08			0.16			0.19			0.17			0.23			0.24
Net realized and unrealized gain (loss) on investment and foreign currency transactions		0.07			0.18			0.26			(0.36	)		0.12			(0.21	)
Total from investment operations		0.15			0.34			0.45			(0.19	)		0.35			0.03
Less Dividends and Distributions:
Dividends from net investment income*		(0.11	)		(0.15	)		(0.15	)		(0.05	)		(0.18	)		(0.21	)
Tax return of capital distributions		-			(0.05	)		(0.03	)		(0.20	)		(0.14	)		(0.11	)
Distributions from net realized gains		-			(0.04	)		(0.08	)		-			-			-
Total dividends and distributions		(0.11	)		(0.24	)		(0.26	)		(0.25	)		(0.32	)		(0.32	)
Net asset value, end of period		$6.86			$6.82			$6.72			$6.53			$6.97			$6.94
Total Return(b):		2.25%			5.21%			6.90%			(2.71)%			5.09%			0.46%
Ratios/Supplemental Data:
Net assets, end of period (000)		$653,517			$460,700			$61,713			$27,141			$869			$62
Average net assets (000)		$550,046			$271,620			$40,135			$19,157			$295			$13
Ratios to average net assets(c):
Expenses after waivers and/or expense reimbursement		0.56%	(d)		0.58%			0.59%			0.72%			0.87%			0.85%
Expenses before waivers and/or expense reimbursement		0.56%	(d)		0.59%			0.76%			0.82%			0.87%			0.85%
Net investment income (loss)		2.27%	(d)		2.33%			2.86%			2.64%			3.24%			3.48%
Portfolio turnover rate(f)		32%	(e)		75%			86%			95%			65%			79%

(a) Calculated based on average shares outstanding during the period.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) Not annualized.

(f) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

* Dividends from net investment income may include other items that are ordinary income for tax purposes.

See Notes to Financial Statements.

PGIM Global Total Return Fund, Inc. 129

∎ MAIL	∎ TELEPHONE	∎ WEBSITE
655 Broad Street Newark, NJ 07102	(800) 225-1852	www.pgiminvestments.com

PROXY VOTING

The Board of Directors of the Fund has delegated to the Fund’s investment subadviser the responsibility for voting any proxies and maintaining proxy recordkeeping with respect to the Fund. A description of these proxy voting policies and procedures is available without charge, upon request, by calling (800) 225-1852. Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Fund’s website and on the Securities and Exchange Commission’s website.

DIRECTORS

Ellen S. Alberding • Kevin J. Bannon • Scott E. Benjamin • Linda W. Bynoe • Barry H. Evans • Keith F. Hartstein • Laurie Simon Hodrick • Michael S. Hyland • Stuart S. Parker • Richard A. Redeker • Brian K. Reid • Grace C. Torres

OFFICERS

Stuart S. Parker, President • Scott E. Benjamin, Vice President • M. Sadiq Peshimam, Treasurer and Principal Financial and Accounting Officer • Raymond A. O’Hara, Chief Legal Officer • Deborah A. Docs, Secretary • Chad A. Earnst, Chief Compliance Officer • Dino Capasso, Vice President and Deputy Chief Compliance Officer • Charles H. Smith, Anti-Money Laundering Compliance Officer • Jonathan D. Shain, Assistant Secretary • Claudia DiGiacomo, Assistant Secretary • Andrew R. French, Assistant Secretary • Peter Parrella, Assistant Treasurer • Lana Lomuti, Assistant Treasurer • Linda McMullin, Assistant Treasurer • Kelly A. Coyne, Assistant Treasurer

MANAGER	PGIM Investments LLC	655 Broad Street Newark, NJ 07102
INVESTMENT SUBADVISER	PGIM Fixed Income	655 Broad Street Newark, NJ 07102
DISTRIBUTOR	Prudential Investment Management Services LLC	655 Broad Street Newark, NJ 07102
CUSTODIAN	The Bank of New York Mellon	225 Liberty Street New York, NY 10286
TRANSFER AGENT	Prudential Mutual Fund Services LLC	PO Box 9658 Providence, RI 02940
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	KPMG LLP	345 Park Avenue New York, NY 10154
FUND COUNSEL	Willkie Farr & Gallagher LLP	787 Seventh Avenue New York, NY 10019

An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and other information about the Fund. An investor may obtain a prospectus and summary prospectus by visiting our website at www.pgiminvestments.com or by calling (800) 225-1852. The prospectus and summary prospectus should be read carefully before investing.

E-DELIVERY

To receive your mutual fund documents online, go to www.pgiminvestments.com/edelivery and enroll. Instead of receiving printed documents by mail, you will receive notification via email when new materials are available. You can cancel your enrollment or change your email address at any time by visiting the website address above.

SHAREHOLDER COMMUNICATIONS WITH DIRECTORS

Shareholders can communicate directly with the Board of Directors by writing to the Chair of the Board, PGIM Global Total Return Fund, PGIM Investments, Attn: Board of Directors, 655 Broad Street, Newark, NJ 07102. Shareholders can communicate directly with an individual Director by writing to the same address. Communications are not screened before being delivered to the addressee.

AVAILABILITY OF PORTFOLIO SCHEDULE

The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the Commission’s website at www.sec.gov. The Fund’s Forms N-Q may also be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information on the operation and location of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The Fund’s schedule of portfolio holdings is also available on the Fund’s website as of the end of each month no sooner than 15 days after the end of the month.

Mutual Funds:

ARE NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY MAY LOSE VALUE ARE NOT A DEPOSIT OF OR GUARANTEED BY ANY BANK OR ANY BANK AFFILIATE

PGIM GLOBAL TOTAL RETURN FUND

SHARE CLASS	A	B	C	Z	R2	R4	R6*
NASDAQ	GTRAX	PBTRX	PCTRX	PZTRX	PGTOX	PGTSX	PGTQX
CUSIP	74439A103	74439A202	74439A301	74439A400	74439A863	74439A855	74439A509

*Formerly known as Class Q shares.

MF169E2    

PGIM GLOBAL TOTAL RETURN (USD HEDGED) FUND

(Formerly known as Prudential Global Total Return (USD Hedged) Fund)

SEMIANNUAL REPORT

APRIL 30, 2018

To enroll in e-delivery, go to pgiminvestments.com/edelivery

Objective: Total return, through a combination of current income and
capital appreciation

This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current prospectus.

The information about the Fund’s portfolio holdings is for the period covered by this report and is subject to change thereafter.

The accompanying financial statements as of April 30, 2018 were not audited and, accordingly, no auditor’s opinion is expressed on them.

Mutual funds are distributed by Prudential Investment Management Services LLC (PIMS), member SIPC. PGIM Fixed Income is a unit of PGIM, Inc. (PGIM), a registered investment adviser. PIMS and PGIM are Prudential Financial companies. ^© 2018 Prudential Financial, Inc. and its related entities. PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

2 Visit our website at pgiminvestments.com

Table of Contents

Letter from the President	5
Your Fund’s Performance	6
Fees and Expenses	9
Holdings and Financial Statements	11

PGIM Global Total Return (USD Hedged) Fund 3

This Page Intentionally Left Blank

Letter from the President

Dear Shareholder:

We hope you find the semiannual report for PGIM Global Total Return (USD Hedged) Fund informative and useful. The report covers performance from the inception of the Fund on December 12, 2017, through the end of the period on April 30, 2018.

We have important information to share with you. Effective June 11, 2018,

Prudential Mutual Funds were renamed PGIM Funds. This renaming is part of our ongoing effort to further build our reputation and establish our global brand, which began when our firm adopted PGIM Investments as its name in April 2017. Please note that only the Fund’s name has changed. Your Fund’s management and operation, along with its symbols, remained the same.*

Regarding your investments with PGIM, we believe it is important to maintain a diversified portfolio of funds consistent with your tolerance for risk, time horizon, and financial goals.

Your financial advisor can help you create a diversified investment plan that may include funds covering all the basic asset classes and that reflects your personal investor profile and risk tolerance. However, diversification and asset allocation strategies do not assure a profit or protect against loss in declining markets.

At PGIM Investments, we consider it a great privilege and responsibility to help investors participate in opportunities across global markets while meeting their toughest investment challenges. PGIM is a top-10 global investment manager with more than $1 trillion in assets under management. This investment expertise allows us to deliver actively managed funds and strategies to meet the needs of investors around the globe.

Thank you for choosing our family of funds.

Sincerely,

Stuart S. Parker, President

PGIM Global Total Return (USD Hedged) Fund

June 15, 2018

*The Prudential Day One Funds did not change their names.

PGIM Global Total Return (USD Hedged) Fund 5

Your Fund’s Performance (unaudited)

Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.pgiminvestments.com or by calling (800) 225-1852.

	Total Returns as of 4/30/18 (without sales charges)
	Since Inception* (%)
Class A	–0.85 (12/12/17)
Class C	–1.14 (12/12/17)
Class Z	–0.76 (12/12/17)
Class R6**	–0.74 (12/12/17)
Bloomberg Barclays Global Aggregate (USD Hedged) Index	N/A
Lipper Global Income Funds Average	N/A

Source: PGIM Investments LLC and Lipper Inc.

*Not annualized

**Formerly known as Class Q shares.

The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. The average annual total returns take into account applicable sales charges, which are described for each share class in the table below.

	Class A	Class C	Class Z	Class R6*
Maximum initial sales charge	4.50% of the public offering price	None	None	None
Contingent deferred sales charge (CDSC) (as a percentage of the lower of original purchase price or net asset value at redemption)	1.00% on sales of $1 million or more made within 12 months of purchase	1.00% on sales made within 12 months of purchase	None	None
Annual distribution and service (12b-1) fees (shown as a percentage of average daily net assets)	0.25%	1.00%	None	None

*Formerly known as Class Q shares.

6 Visit our website at pgiminvestments.com

Benchmark Definitions

Bloomberg Barclays Global Aggregate (USD Hedged) Index—The Bloomberg Barclays Global Aggregate (USD Hedged) Index is an unmanaged index of global investment-grade fixed income markets. The three major components of this index are the US Aggregate, the Pan-European Aggregate, and the Asian-Pacific Aggregate Indices. Returns for the index are hedged to the US Dollar.

Lipper Global Income Funds Average—The Lipper Global Income Funds Average (Lipper Average) is based on the average return of all funds in the Lipper Global Income Funds universe. Funds in the Lipper Average invest primarily in US dollar and non-US dollar debt securities of issuers located in at least three countries, one of which may be the United States.

Investors cannot invest directly in an index or average. The returns for the Index would be lower if they included the effects of sales charges, operating expenses of a mutual fund, or taxes. Returns for the Lipper Average reflect the deduction of operating expenses of a mutual fund, but not sales charges or taxes.

Distributions and Yields as of 4/30/18
	Total Distributions Paid for Six Months ($)	SEC 30-Day Subsidized Yield* (%)	SEC 30-Day Unsubsidized Yield** (%)
Class A	0.11	1.91	–40.69
Class C	0.08	1.25	–138.10
Class Z	0.11	2.26	–11.26
Class R6	0.12	2.31	1.44

*SEC 30-Day Subsidized Yield (%)—A standardized yield calculation created by the Securities and Exchange Commission, it reflects the income earned during a 30-day period, after the deduction of the Fund’s net expenses (net of any expense waivers or reimbursements).

**SEC 30-Day Unsubsidized Yield (%)—A standardized yield calculation created by the Securities and Exchange Commission, it reflects the income earned during a 30-day period, after the deduction of the Fund’s gross expenses.

PGIM Global Total Return (USD Hedged) Fund 7

Your Fund’s Performance (continued)

Credit Quality expressed as a percentage of total investments as of 4/30/18 (%)
AAA	29.3
AA	10.4
A	14.0
BBB	25.5
BB	8.0
B	6.9
Not Rated	4.3
Cash/Cash Equivalents	1.5
Total	100.0

Source: PGIM Fixed Income

Credit ratings reflect the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody’s Investor Service, Inc. (Moody’s), S&P Global Ratings (S&P), or Fitch, Inc. (Fitch). Credit ratings reflect the common nomenclature used by both S&P and Fitch. Where applicable, ratings are converted to the comparable S&P/Fitch rating tier nomenclature. These rating agencies are independent and are widely used. The Not Rated category consists of securities that have not been rated by a NRSRO. Credit ratings are subject to change. Values may not sum to 100.0% due to rounding.

8 Visit our website at pgiminvestments.com

Fees and Expenses (unaudited)

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemptions, as applicable, and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Fund expenses, as applicable. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 held through the six-month period ended April 30, 2018. The example is for illustrative purposes only; you should consult the Prospectus for information on initial and subsequent minimum investment requirements.

Actual Expenses

The first line for each share class in the table on the following page provides information about actual account values and actual expenses. You may use the information on this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value ÷ $1,000 = 8.6), then multiply the result by the number on the first line under the heading “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line for each share class in the table on the following page provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

The Fund’s transfer agent may charge additional fees to holders of certain accounts that are not included in the expenses shown in the table on the following page. These fees apply to individual retirement accounts (IRAs) and Section 403(b) accounts. As of the close of the six-month period covered by the table, IRA fees included an annual maintenance fee of $15 per account (subject to a maximum annual maintenance fee of $25 for all accounts held by the same shareholder). Section 403(b) accounts are charged an annual $25 fiduciary maintenance fee. Some of the fees may vary in amount, or may be waived, based on your total account balance or the number of PGIM funds, including the Fund, that you own. You should consider the additional fees that were charged to your Fund account over the six-month period when you estimate the total ongoing expenses paid over the period

PGIM Global Total Return (USD Hedged) Fund 9

Fees and Expenses (continued)

and the impact of these fees on your ending account value, as these additional expenses are not reflected in the information provided in the expense table. Additional fees have the effect of reducing investment returns.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs such as sales charges (loads). Therefore, the second line for each share class in the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

PGIM Global Total Return (USD Hedged) Fund		Beginning Account Value November 1, 2017		Ending  Account Value April 30, 2018		Annualized Expense Ratio Based on the Six-Month Period			Expenses  Paid During the Six-Month Period*
Class A	Actual**	$	1,000.00	$	991.50		0.88	%	$	3.36
	Hypothetical	$	1,000.00	$	1,020.43		0.88	%	$	4.41
Class C	Actual**	$	1,000.00	$	988.60		1.63	%	$	6.22
	Hypothetical	$	1,000.00	$	1,016.71		1.63	%	$	8.15
Class Z	Actual**	$	1,000.00	$	992.40		0.63	%	$	2.41
	Hypothetical	$	1,000.00	$	1,021.67		0.63	%	$	3.16
Class R6***	Actual**	$	1,000.00	$	992.60		0.58	%	$	2.22
	Hypothetical	$	1,000.00	$	1,021.92		0.58	%	$	2.91

*Fund expenses (net of fee waivers or subsidies, if any) for each share class are equal to the annualized expense ratio for each share class (provided in the table), multiplied by the average account value over the period, multiplied by the 181 days in the six-month period ended April 30, 2018, and divided by the 365 days in the Fund’s fiscal year ending October 31, 2018 (to reflect the six-month period). Expenses presented in the table include the expenses of any underlying portfolios in which the Fund may invest.

**“Actual” expenses are calculated using the 140 days in the period ended April 30, 2018 due to the Fund’s inception date of December 12, 2017.

***Formerly known as Class Q shares.

10 Visit our website at pgiminvestments.com

Schedule of Investments (unaudited)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
LONG-TERM INVESTMENTS    96.4%
ASSET-BACKED SECURITIES    18.8%
Automobiles    0.1%
Santander Drive Auto Receivables Trust, Series 2018-2, Class C		3.350	%		07/17/23		30	$	29,887
Collateralized Loan Obligations    17.4%
Arbour CLO Ltd. (Ireland), Series 2018-3A, Class B1R, 144A		1.920	(cc)		03/15/29	EUR	250		301,394
Armada Euro CLO (Ireland), Series 2018-2A, Class A3, 144A		1.500	(cc)		11/15/31	EUR	250		300,239
Bain Capital Credit CLO (Cayman Islands), Series 2018-1A, Class A1, 144A, 3 Month LIBOR + 0.960%		3.322	(c)		04/23/31		250		249,446
Battalion CLO Ltd. (Cayman Islands), Series 2018-12A, Class A, 144A^		—	(p)		05/17/31		250		250,000
Brookside Mill CLO Ltd. (Cayman Islands), Series 2013-1A, Class BR, 144A, 3 Month LIBOR + 1.350%		3.054	(c)		01/17/28		250		247,511
Carlyle CLO Ltd. (Cayman Islands), Series 2017-C17A, Class A1AR, 144A, 3 Month LIBOR + 1.030%		3.383	(c)		04/30/31		250		250,000
Carlyle Global Market Strategies CLO (Cayman Islands), Series 2014-1A, Class A1R2, 144A, 3 Month LIBOR + 0.970%		3.310	(c)		04/17/31		250		249,866
Greenwood Park CLO Ltd. (Cayman Islands), Series 2018-1A, Class A2, 144A, 3 Month LIBOR + 1.010%		3.035	(c)		04/15/31		250		249,944
Greywolf CLO Ltd. (Cayman Islands), Series 2018-1A, Class A1, 144A, 3 Month LIBOR + 1.030%		3.539	(c)		04/26/31		250		250,000
Midocean Credit CLO VIII (Cayman Islands),
Series 2018-8A, Class A1, 144A, 3 Month LIBOR + 1.150%		3.036	(c)		02/20/31		250		250,203
Series 2018-8A, Class B, 144A, 3 Month LIBOR + 1.650%		3.536	(c)		02/20/31		250		250,309
OZLM Ltd. (Cayman Islands), Series 2014-6A, Class A2AS, 144A, 3 Month LIBOR + 1.750%		4.103	(c)		04/17/31		250		249,997
Telos CLO Ltd. (Cayman Islands), Series 2013-4A, Class AR, 144A, 3 Month LIBOR + 1.240%		3.593	(c)		01/17/30		250		251,880
TICP CLO Ltd. (Cayman Islands), Series 2015-1A, Class BR, 144A, 3 Month LIBOR + 1.300%		3.659	(c)		07/20/27		250		249,835
Tryon Park CLO Ltd. (Cayman Islands), Series 2013-1A, Class A2R, 144A, 3 Month LIBOR + 1.500%		3.848	(c)		04/15/29		250		249,993
Venture CLO Ltd. (Cayman Islands), Series 2016-24A, Class A1D, 144A, 3 Month LIBOR + 1.420%		3.779	(c)		10/20/28		250		250,480
Voya CLO Ltd. (Cayman Islands), Series 2013-2A, Class A1R, 144A, 3 Month LIBOR + 0.970%		3.314	(c)		04/25/31		250		249,430
									4,350,527

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 11

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
Consumer Loans    1.0%
Oportun Funding VIII LLC, Series 2018-A, Class A, 144A		3.610	%		03/08/24		250	$	249,021
Residential Mortgage-Backed Securities    0.3%
Credit Suisse Mortgage Trust, Series 2018-3R, Class 1A1, 144A, 1 Month LIBOR + 1.200%^		3.071	(c)		12/25/46		70		70,044
TOTAL ASSET-BACKED SECURITIES (cost $4,714,860)									4,699,479
COMMERCIAL MORTGAGE-BACKED SECURITIES    9.7%
BANK, Series 2018-BN10, Class A4		3.428			02/15/61		250		244,331
Benchmark Mortgage Trust,
Series 2018-B1, Class A3		3.355			01/15/51		175		172,940
Series 2018-B2, Class A3		3.544			02/15/51		200		199,087
Series 2018-B3, Class A3		3.746			04/10/51		125		125,391
Citigroup Commercial Mortgage Trust, Series 2018-B2, Class A3		3.744			03/10/51		150		150,341
FHLMC Multifamily Structured Pass-Through Certificates, Series K052, Class X1, IO		0.805	(cc)		11/25/25		4,674		190,497
GS Mortgage Securities Trust, Series 2018-GS9, Class A3		3.727			03/10/51		125		125,213
UBS Commercial Mortgage Trust,
Series 2017-C7, Class A3		3.418			12/15/50		750		728,949
Series 2018-C8, Class A3		3.720			02/15/51		250		248,763
Wells Fargo Commercial Mortgage Trust, Series 2016-LC24, Class A3		2.684			10/15/49		250		232,350
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (cost $2,476,714)									2,417,862
CORPORATE BONDS    23.6%
Brazil    0.6%
Petrobras Global Finance BV, Gtd. Notes		4.250			10/02/23	EUR	100		131,665
Canada    1.0%
Bombardier, Inc., Sr. Unsec’d. Notes, 144A		7.500			12/01/24		25		26,313
Hydro-Quebec, Gov’t. Gtd. Notes		9.375			04/15/30		150		226,917
									253,230
China    0.5%
Sinopec Group Overseas Development Ltd., Gtd. Notes		1.000			04/28/22	EUR	100		122,151
France    0.5%
Credit Agricole Assurances SA, Sub. Notes		4.250			12/31/49	EUR	100		130,199

See Notes to Financial Statements.

12

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
CORPORATE BONDS (Continued)
Germany    2.0%
Deutsche Bahn Finance GmbH, Gtd. Notes, MTN		3.800	%		09/27/27		AUD    100	$	75,472
Deutsche Bank AG, Sr. Unsec’d. Notes		2.700			07/13/20		200		196,133
Nidda Healthcare Holding GmbH, Sr. Sec’d. Notes		3.500			09/30/24		EUR    100		118,967
Takko Luxembourg SCA, Sr. Sec’d. Notes, MTN		5.375			11/15/23		EUR    100		115,120
									505,692
Italy    1.5%
Enel Finance International NV, Gtd. Notes, 144A		3.500			04/06/28		200		185,707
Intesa Sanpaolo SpA, Sr. Unsec’d. Notes, 144A		3.375			01/12/23		200		193,760
									379,467
Mexico    1.1%
Petroleos Mexicanos, Gtd. Notes		5.500			02/24/25		EUR    200		279,801
Netherlands    0.6%
Nederlandse Waterschapsbank NV, Sr. Unsec’d. Notes, MTN		3.400			07/22/25		AUD    200		152,431
Russia    0.6%
Gazprom OAO Via Gaz Capital SA, Sr. Unsec’d. Notes		4.250			04/06/24		GBP    100		141,457
Spain    0.5%
Adif-Alta Velocidad, Sr. Unsec’d. Notes, EMTN		1.875			01/28/25		EUR    100		127,420
Supranational Bank    1.0%
African Development Bank, Sr. Unsec’d. Notes, EMTN		0.500			09/21/21		NZD    200		129,694
Corp Andina de Fomento, Sr. Unsec’d. Notes, EMTN		1.875			05/29/21		EUR    100		126,934
									256,628
Switzerland    0.8%
UBS Group Funding Switzerland AG, Gtd. Notes, 144A		4.125			09/24/25		200		199,005
United Kingdom    2.4%
CPUK Finance Ltd., Sec’d. Notes		4.875			02/28/47		GBP    100		138,483
DS Smith PLC, Sr. Unsec’d. Notes, MTN		1.375			07/26/24		EUR    100		120,279
McLaren Finance PLC, Sr. Sec’d. Notes		5.000			08/01/22		GBP    100		136,553
Royal Bank of Scotland Group PLC, Sr. Unsec’d. Notes		3.875			09/12/23		200		196,690
									592,005
United States    10.5%
Allergan Funding SCS, Gtd. Notes		3.800			03/15/25		100		96,104
American International Group, Inc., Sr. Unsec’d. Notes		1.875			06/21/27		EUR    100		120,372

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 13

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
CORPORATE BONDS (Continued)
United States (cont’d.)
Baxalta, Inc., Gtd. Notes		4.000	%		06/23/25		100	$	97,958
Calpine Corp., Sr. Unsec’d. Notes		5.375			01/15/23		100		95,875
CCO Holdings LLC/CCO Holdings Capital Corp., Sr. Unsec’d. Notes, 144A		5.000			02/01/28		75		69,254
Celgene Corp., Sr. Unsec’d. Notes		3.450			11/15/27		100		93,626
Cequel Communications Holdings I LLC/Cequel Capital Corp., Sr. Unsec’d. Notes, 144A		5.125			12/15/21		100		98,855
CHS/Community Health Systems, Inc., Sr. Sec’d. Notes		6.250			03/31/23		50		45,625
Discovery Communications LLC, Gtd. Notes		4.900			03/11/26		100		102,597
DISH DBS Corp., Gtd. Notes		7.750			07/01/26		75		68,203
First Data Corp., Gtd. Notes, 144A		7.000			12/01/23		100		104,638
Ford Motor Credit Co. LLC, Sr. Unsec’d. Notes		3.815			11/02/27		200		186,078
General Motors Financial Co., Inc., Gtd. Notes		3.850			01/05/28		100		93,062
Kinder Morgan Inc., Gtd. Notes		4.300			03/01/28		200		195,145
Kraft Heinz Foods Co., Gtd. Notes		3.000			06/01/26		100		90,783
L Brands, Inc., Gtd. Notes		5.250			02/01/28		40		37,450
Liberty Mutual Group, Inc., Gtd. Notes		2.750			05/04/26	EUR	100		129,190
Morgan Stanley,
Sr. Unsec’d. Notes, EMTN		1.342			10/23/26	EUR	100		119,152
Sub. Notes, GMTN		4.350			09/08/26		100		99,364
MPLX LP, Sr. Unsec’d. Notes		4.000			03/15/28		25		24,053
Newell Brands, Inc., Sr. Unsec’d. Notes		4.200			04/01/26		100		98,192
NRG Energy, Inc.,
Gtd. Notes		7.250			05/15/26		37		39,456
Gtd. Notes, 144A		5.750			01/15/28		53		52,470
Sally Holdings LLC/Sally Capital, Inc., Gtd. Notes		5.500			11/01/23		50		50,125
United Rentals North America, Inc., Gtd. Notes		5.500			05/15/27		100		99,500
Vistra Energy Corp., Gtd. Notes		5.875			06/01/23		100		102,250
Williams Partners LP, Sr. Unsec’d. Notes		3.600			03/15/22		100		99,003
Zimmer Biomet Holdings, Inc., Sr. Unsec’d. Notes		1.414			12/13/22	EUR	100		123,692
									2,632,072
TOTAL CORPORATE BONDS (cost $6,048,392)									5,903,223
RESIDENTIAL MORTGAGE-BACKED SECURITIES    1.6%
Bellemeade Re, Series 2018-1A, Class M1B, 144A, 1 Month LIBOR + 1.600%^		3.477	(c)		04/25/28		167		167,000
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 144A, 1 Month LIBOR + 2.850%		4.747	(c)		02/25/23		100		100,624
LSTAR Securities Investment Trust, Series 2018-2, Class A1, 144A, 1 Month LIBOR + 1.500%		3.394	(c)		04/01/23		140		139,984
TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES (cost $407,000)									407,608

See Notes to Financial Statements.

14

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
SOVEREIGN BONDS    38.9%
Argentina    1.4%
Argentine Republic Government International Bond, Sr. Unsec’d. Notes		3.375	%		01/15/23	EUR	200	$	238,754
Provincia De Buenos Aires, Sr. Unsec’d. Notes		5.375			01/20/23	EUR	100		124,984
									363,738
Austria    0.6%
Republic of Austria Government International Bond, Sr. Unsec’d. Notes, 144A, MTN		5.375			12/01/34	CAD	160		155,066
Brazil    0.8%
Brazil Minas SPE via State of Minas Gerais, Gov’t. Gtd. Notes		5.333			02/15/28		200		199,000
Bulgaria    0.5%
Bulgaria Government International Bond, Unsec’d. Notes, GMTN		3.125			03/26/35	EUR	100		130,239
Canada    0.5%
City of Toronto, Unsec’d. Notes		3.500			12/06/21	CAD	150		120,780
Chile    0.5%
Chile Government International Bond, Sr. Unsec’d. Notes		1.875			05/27/30	EUR	100		124,322
Colombia    1.1%
Colombia Government International Bond, Sr. Unsec’d. Notes, EMTN		3.875			03/22/26	EUR	200		276,781
Croatia    0.9%
Croatia Government International Bond, Sr. Unsec’d. Notes		6.000			01/26/24		200		217,955
Cyprus    1.8%
Cyprus Government International Bond,
Sr. Unsec’d. Notes, EMTN		4.250			11/04/25	EUR	50		68,386
Unsec’d. Notes, EMTN		2.750			06/27/24	EUR	300		379,382
									447,768
Dominican Republic    0.4%
Dominican Republic International Bond, Sr. Unsec’d. Notes		5.950			01/25/27		100		102,250

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 15

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
SOVEREIGN BONDS (Continued)
France    1.5%
France Government Bond OAT, Bonds		2.750	%		10/25/27	EUR	260	$	373,822
Germany    0.4%
Bundesrepublik Deutschland Bundesanleihe, Bonds		0.500			08/15/27	EUR	75		90,590
Greece    2.1%
Hellenic Republic Government Bond,
Bonds		3.000			02/24/37	EUR	400		430,450
Sr. Unsec’d. Notes, 144A		3.375			02/15/25	EUR	20		23,980
Hellenic Republic Government International Bond, Sr. Unsec’d. Notes		5.200			07/17/34	EUR	50		61,504
									515,934
Hungary    0.7%
Hungary Government International Bond,
Sr. Unsec’d. Notes		1.750			10/10/27	EUR	100		122,418
Sr. Unsec’d. Notes		6.375			03/29/21		50		53,875
									176,293
Indonesia    0.8%
Indonesia Government International Bond, Sr. Unsec’d. Notes, MTN		4.125			01/15/25		200		199,567
Israel    0.5%
Israel Government International Bond, Sr. Unsec’d. Notes, EMTN		1.500			01/18/27	EUR	100		123,127
Italy    5.9%
Italy Buoni Poliennali Del Tesoro,
Bonds		2.000			12/01/25	EUR	275		347,052
Bonds		9.000			11/01/23	EUR	300		521,704
Bonds, 144A		2.800			03/01/67	EUR	105		119,594
Unsec’d. Notes		4.500			03/01/26	EUR	250		371,486
Republic of Italy Government International Bond, Sr. Unsec’d. Notes, EURIBOR ICE Swap Rate 11:00am (Cap 7.000%, Floor 2.000%), EMTN		2.000	(c)		06/15/20	EUR	100		125,927
									1,485,763
Malaysia    0.4%
Malaysia Government Bond, Sr. Unsec’d. Notes		3.580			09/28/18	MYR	450		114,758

See Notes to Financial Statements.

16

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
SOVEREIGN BONDS (Continued)
Mexico    2.0%
Mexico Government International Bond,
Sr. Unsec’d. Notes		1.375	%		01/15/25	EUR	100	$	119,421
Sr. Unsec’d. Notes, EMTN		1.750			04/17/28	EUR	100		117,439
Sr. Unsec’d. Notes, EMTN		2.375			04/09/21	EUR	100		128,268
Sr. Unsec’d. Notes, GMTN		5.500			02/17/20	EUR	100		132,587
									497,715
New Zealand    0.6%
New Zealand Local Government Funding Agency, Sr. Unsec’d. Notes		4.500			04/15/27	NZD	200		148,913
Panama    0.8%
Panama Government International Bond, Sr. Unsec’d. Notes		3.875			03/17/28		200		196,500
Peru    0.5%
Peruvian Government International Bond, Sr. Unsec’d. Notes		2.750			01/30/26	EUR	100		132,389
Poland    0.8%
Republic of Poland Government International Bond, Sr. Unsec’d. Notes		5.000			03/23/22		200		212,208
Portugal    2.5%
Portugal Obrigacoes do Tesouro OT, Sr. Unsec’d. Notes, 144A		3.875			02/15/30	EUR	435		632,863
Romania    0.5%
Romanian Government International Bond, Sr. Unsec’d. Notes, MTN		3.875			10/29/35	EUR	100		128,126
Saudi Arabia    0.8%
Saudi Government International Bond, Sr. Unsec’d. Notes, MTN		2.875			03/04/23		200		190,784
Senegal    0.5%
Senegal Government International Bond, Sr. Unsec’d. Notes, 144A		4.750			03/13/28	EUR	100		119,707
Spain    6.1%
Instituto de Credito Oficial, Gov’t. Gtd. Notes, GMTN		0.963			09/22/22	SEK	1,000		115,021
Spain Government Bond,
Bonds, 144A		5.150			10/31/28	EUR	200		332,182
Sr. Unsec’d. Notes, 144A		3.450			07/30/66	EUR	60		88,434

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 17

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Description	Interest Rate			Maturity Date		Principal Amount (000)#		Value
SOVEREIGN BONDS (Continued)
Spain (cont’d.)
Spain Government Bond, (cont’d.)
Sr. Unsec’d. Notes, 144A		5.500	%		04/30/21	EUR	400	$	564,380
Sr. Unsec’d. Notes, 144A		5.900			07/30/26	EUR	250		418,916
									1,518,933
Sweden    1.3%
Svensk Exportkredit AB, Sr. Unsec’d. Notes, EMTN		0.500			03/15/22	ZAR	2,000		116,567
Sweden Government International Bond, Sr. Unsec’d. Notes, 144A, MTN		0.125			04/24/23	EUR	180		217,462
									334,029
Turkey    0.5%
Turkey Government International Bond, Sr. Unsec’d. Notes		4.125			04/11/23	EUR	100		129,479
United Arab Emirates    0.8%
Abu Dhabi Government International Bond, Sr. Unsec’d. Notes		2.500			10/11/22		200		191,212
Uruguay    0.4%
Uruguay Government International Bond, Sr. Unsec’d. Notes		4.375			10/27/27		100		100,750
TOTAL SOVEREIGN BONDS (cost $9,685,870)									9,751,361
U.S. GOVERNMENT AGENCY OBLIGATION    0.7%
Indonesia Government USAID Bond, Gov’t. Gtd. Notes (cost $173,981)		9.300			07/01/20		162		172,592
U.S. TREASURY OBLIGATION    3.1%
U.S. Treasury Bonds(k) (cost $820,211)		2.750	%		08/15/47		830		774,623
TOTAL LONG-TERM INVESTMENTS (cost $24,327,028)									24,126,748

See Notes to Financial Statements.

18

Description	Shares		Value
SHORT-TERM INVESTMENTS    4.7%
AFFILIATED MUTUAL FUND    4.7%
Prudential Investment Portfolios 2 - PGIM Core Ultra Short Bond Fund(w) (cost $1,187,481)		1,187,481	$	1,187,481
OPTIONS PURCHASED~*    0.0% (cost $2,064)				2,222
TOTAL SHORT-TERM INVESTMENTS (cost $1,189,545)				1,189,703
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN    101.1% (cost $25,516,573)				25,316,451
OPTIONS WRITTEN~*    (0.0)% (premiums received $4,568)				(5,609	)
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN    101.1% (cost $25,512,005)				25,310,842
Liabilities in excess of other assets(z)    (1.1)%				(274,955	)
NET ASSETS    100.0%			$	25,035,887

The following abbreviations are used in the semiannual report:

A—Annual payment frequency for swaps

M—Monthly payment frequency for swaps

Q—Quarterly payment frequency for swaps

S—Semiannual payment frequency for swaps

T—Swap payment upon termination

144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid.

BBSW—Australian Bank Bill Swap Reference Rate

bps—Basis Points

BROIS—Brazil Overnight Interbank Deposit

BUBOR—Budapest Interbank Offered Rate

Buxl—Bundesanleihe-German Federal Obligations

CDX—Credit Derivative Index

CLO—Collateralized Loan Obligation

CDS—Credit Default Swap

CLOIS—Sinacofi Chile Interbank Rate Average

CMBX—Commercial Mortgage-Backed Index

COOIS—Colombia Overnight Interbank Reference Rat

EIBOR—Emirates Interbank Offered Rate

EMTN—Euro Medium Term Note

EURIBOR—Euro Interbank Offered Rate

GMTN—Global Medium Term Note

iTraxx—International Credit Derivative Index

IO—Interest Only (Principal amount represents notional)

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 19

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

JIBAR—Johannesburg Interbank Agreed Rate

LIBOR—London Interbank Offered Rate

MTN—Medium Term Note

NIBOR—Norwegian Interbank Offered Rate

OAT—Obligations Assimilables du Tresor (French Treasury Bond)

OTC—Over-the-counter

PRIBOR—Prague Interbank Offered Rate

SAIBOR—Saudi Arabia Interbank Offered Rate

SONIA—Sterling Overnight Index Average

STIBOR—Stockholm Interbank Offered Rate

TELBOR—Tel Aviv Interbank Offered Rate

USAID—United States Agency for International Development

USOIS—United States Overnight Index Swap

WIBOR—Warsaw Interbank Offered Rate

AED—Arab Emirates Dirham

ARS—Argentine Peso

AUD—Australian Dollar

BRL—Brazilian Real

CAD—Canadian Dollar

CHF—Swiss Franc

CLP—Chilean Peso

CNH—Chinese Renminbi (offshore)

COP—Colombian Peso

CZK—Czech Koruna

EUR—Euro

GBP—British Pound

HUF—Hungarian Forint

IDR—Indonesian Rupiah

ILS—Israeli Shekel

INR—Indian Rupee

JPY—Japanese Yen

KRW—South Korean Won

MXN—Mexican Peso

NOK—Norwegian Krone

NZD—New Zealand Dollar

PEN—Peruvian Nuevo Sol

PHP—Philippine Peso

PLN—Polish Zloty

RUB—Russian Ruble

SEK—Swedish Krona

SGD—Singapore Dollar

THB—Thai Baht

TRY—Turkish Lira

TWD—New Taiwanese Dollar

USD—United States Dollar

ZAR—South African Rand

~ See tables subsequent to the Schedule of Investments for options detail.

* Non-income producing security.

# Principal or notional amount is shown in U.S. dollars unless otherwise stated.

^ Indicates a Level 3 security. The aggregate value of Level 3 securities is $485,646 and 1.9% of net assets.

See Notes to Financial Statements.

20

(c) Variable rate instrument. The interest rate shown reflects the rate in effect at April 30, 2018.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of April 30, 2018. 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.

(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.

(p) Interest rate not available as of April 30, 2018.

(w) PGIM Investments LLC, the manager of the Fund, also serves as manager of the Prudential Investment Portfolios 2 - PGIM Core Ultra Short Bond Fund.

(z) Includes net unrealized appreciation (depreciation) on the following derivative contracts held at reporting period end, with the exception of options which are included in the net assets at market value:

Options Purchased:

OTC Swaptions

Description

Call/ Put

Counterparty

Expiration Date

Strike

Receive

Pay

Notional Amount (000)#

Value

CDX.NA.HY.30.V1, 06/20/23

Call

Citigroup Global Markets

9/19/2018

$107.50

5.00%(Q)

CDX.NA.HY.30.V1 (Q)

370

$

888

iTraxx.XO.29.V1, 06/20/23

Call

JPMorgan Chase

9/19/2018

EUR 250.00

5.00%(Q)

iTraxx.XO.29.V1 (Q)

EUR 400

1,334

Total Options Purchased (cost $2,064)

$

2,222

Options Written:

OTC Traded

Description

Call/Put

Counterparty

Expiration Date

Strike

Contracts

Notional Amount (000)#

Value

Lebanese Republic, 8.25%, 04/12/21^

Put

Deutsche Bank AG

4/8/2019

66

—

70

$

(1,398

)

Total OTC Traded (premium received $371)

OTC Swaptions

Description

Call/ Put

Counterparty

Expiration Date

Strike

Receive

Pay

Notional Amount (000)#

Value

CDX.NA.HY.30.V1, 06/20/23

Put

Citigroup Global Markets

09/19/18

$100.50

5.00%(Q)

CDX.NA.HY.30.V1 (Q)

370

$

(2,053)

iTraxx.XO.29.V1, 06/20/23

Put

JPMorgan Chase

09/19/18

EUR 400

5.00%(Q)

iTraxx.XO.29.V1 (Q)

EUR 400

(2,158)

Total OTC Swaptions (premium received $4,197)

$

(4,211)

Total Options Written (premium received $4,568)

$

(5,609)

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 21

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Futures contracts outstanding at April 30, 2018:

Number of Contracts		Type	Expiration Date		Current Notional Amount		Value / Unrealized Appreciation (Depreciation)
		Long Positions:
	4	90 Day Euro Dollar		Dec. 2020	$	969,650	$	(875	)
	10	90 Day Sterling		Sep. 2018		1,706,259		2,065
	110	5 Year U.S. Treasury Notes		Jun. 2018		12,485,859		(15,882	)
	3	10 Year U.S. Treasury Notes		Jun. 2018		358,875		859
	4	20 Year U.S. Treasury Bonds		Jun. 2018		575,375		3,023
	7	10 Year U.K. Gilt		Jun. 2018		1,178,215		14,511
	11	30 Year U.S. Ultra Treasury Bonds		Jun. 2018		1,728,375		11,166
								14,867
		Short Positions:
	4	90 Day Euro Dollar		Dec. 2021		969,450		800
	10	90 Day Sterling		Sep. 2019		1,700,924		(3,614	)
	23	2 Year U.S. Treasury Notes		Jun. 2018		4,877,078		11,781
	7	5 Year Euro-Bobl		Jun. 2018		1,107,367		(7,559	)
	5	10 Year Euro-Bund		Jun. 2018		958,471		(4,613	)
	1	30 Year Euro Buxl		Jun. 2018		197,491		2,584
	14	Euro Schatz. DUA Index		Jun. 2018		1,892,077		(1,781	)
								(2,402	)
							$	12,465

A security with a market value of $167,991 has been segregated with JPMorgan to cover requirements for open futures contracts at April 30, 2018.

Forward foreign currency exchange contracts outstanding at April 30, 2018:

Purchase Contracts	Counterparty	Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts:
Argentine Peso,
Expiring 05/03/18	Citigroup Global Markets	ARS	2,335	$	114,838	$	113,443	$	—	$	(1,395	)
Australian Dollar,
Expiring 07/12/18	Citigroup Global Markets	AUD	36		27,001		26,859		—		(142	)
Expiring 07/12/18	Citigroup Global Markets	AUD	81		63,299		61,320		—		(1,979	)
Brazilian Real,
Expiring 05/03/18	Barclays Capital Group	BRL	41		12,485		11,834		—		(651	)
Expiring 05/03/18	Goldman Sachs & Co.	BRL	41		12,480		11,801		—		(679	)
Expiring 05/03/18	Morgan Stanley	BRL	1,062		326,209		303,122		—		(23,087	)
Expiring 07/03/18	Goldman Sachs & Co.	BRL	776		221,461		220,248		—		(1,213	)

See Notes to Financial Statements.

22

Forward foreign currency exchange contracts outstanding at April 30, 2018 (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.):
British Pound,
Expiring 07/26/18	Bank of America	GBP	51	$	73,271	$	70,866	$	—	$	(2,405	)
Expiring 07/26/18	UBS AG	GBP	10		13,275		13,271		—		(4	)
Canadian Dollar,
Expiring 07/12/18	Barclays Capital Group	CAD	60		47,000		46,762		—		(238	)
Chilean Peso,
Expiring 07/13/18	Citigroup Global Markets	CLP	21,950		36,210		35,779		—		(431	)
Expiring 07/13/18	Citigroup Global Markets	CLP	22,674		37,663		36,960		—		(703	)
Colombian Peso,
Expiring 06/15/18	Barclays Capital Group	COP	247,751		86,064		88,146		2,082		—
Expiring 06/15/18	Citigroup Global Markets	COP	89,422		31,267		31,815		548		—
Expiring 06/15/18	Citigroup Global Markets	COP	104,538		37,663		37,193		—		(470	)
Expiring 06/15/18	Citigroup Global Markets	COP	247,751		86,234		88,146		1,912		—
Czech Koruna,
Expiring 07/12/18	Citigroup Global Markets	CZK	3,451		167,920		163,508		—		(4,412	)
Egyptian Pound,
Expiring 09/27/18	Citigroup Global Markets	EGP	860		46,819		47,334		515		—
Expiring 10/11/18	Citigroup Global Markets	EGP	1,174		63,020		64,478		1,458		—
Euro,
Expiring 07/26/18	Citigroup Global Markets	EUR	21		26,000		25,564		—		(436	)
Hungarian Forint,
Expiring 07/24/18	Deutsche Bank AG	HUF	38,732		154,460		149,945		—		(4,515	)
Indian Rupee,
Expiring 07/20/18	Barclays Capital Group	INR	13,390		201,606		198,893		—		(2,713	)
Expiring 07/20/18	Deutsche Bank AG	INR	14,015		211,179		208,174		—		(3,005	)
Expiring 07/20/18	Morgan Stanley	INR	2,487		37,945		36,937		—		(1,008	)
Expiring 07/20/18	UBS AG	INR	1,016		15,000		15,095		95		—
Expiring 07/20/18	UBS AG	INR	3,291		49,000		48,884		—		(116	)
Indonesian Rupiah,
Expiring 07/16/18	Barclays Capital Group	IDR	410,060		29,000		29,214		214		—
Expiring 07/16/18	Barclays Capital Group	IDR	976,842		69,000		69,593		593		—
Expiring 07/16/18	Deutsche Bank AG	IDR	1,789,316		129,211		127,476		—		(1,735	)
Expiring 07/16/18	JPMorgan Chase	IDR	923,670		66,000		65,805		—		(195	)
Japanese Yen,
Expiring 07/26/18	Citigroup Global Markets	JPY	6,762		62,953		62,234		—		(719	)
Expiring 07/26/18	Goldman Sachs & Co.	JPY	1,532		14,185		14,097		—		(88	)
Expiring 07/26/18	Morgan Stanley	JPY	2,607		24,000		23,996		—		(4	)
Mexican Peso,
Expiring 06/28/18	Morgan Stanley	MXN	686		36,999		36,354		—		(645	)
Expiring 06/28/18	Morgan Stanley	MXN	5,139		273,272		272,223		—		(1,049	)

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 23

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Forward foreign currency exchange contracts outstanding at April 30, 2018 (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 Taiwanese Dollar,
Expiring 07/13/18	Citigroup Global Markets	TWD	675	$	23,000	$	22,925	$	—	$	(75	)
Expiring 07/13/18	Citigroup Global Markets	TWD	1,019		35,000		34,618		—		(382	)
Expiring 07/13/18	Toronto Dominion	TWD	1,043		36,000		35,442		—		(558	)
Expiring 07/13/18	UBS AG	TWD	765		26,000		25,991		—		(9	)
Expiring 07/13/18	UBS AG	TWD	770		26,000		26,174		174		—
Expiring 07/13/18	UBS AG	TWD	933		32,000		31,691		—		(309	)
Expiring 07/13/18	UBS AG	TWD	1,515		52,000		51,479		—		(521	)
Expiring 07/13/18	UBS AG	TWD	1,826		62,000		62,061		61		—
Expiring 07/13/18	UBS AG	TWD	2,044		70,000		69,475		—		(525	)
Norwegian Krone,
Expiring 07/24/18	Bank of America	NOK	1,274		164,726		159,329		—		(5,397	)
Peruvian Nuevo Sol,
Expiring 07/13/18	Citigroup Global Markets	PEN	65		20,000		19,852		—		(148	)
Philippine Peso,
Expiring 06/14/18	Barclays Capital Group	PHP	4,605		88,000		88,782		782		—
Expiring 06/14/18	Deutsche Bank AG	PHP	3,296		63,278		63,552		274		—
Polish Zloty,
Expiring 07/24/18	UBS AG	PLN	877		259,079		250,402		—		(8,677	)
Russian Ruble,
Expiring 07/13/18	Barclays Capital Group	RUB	2,366		37,988		37,240		—		(748	)
Expiring 07/13/18	Barclays Capital Group	RUB	5,706		97,966		89,796		—		(8,170	)
Singapore Dollar,
Expiring 05/11/18	Bank of America	SGD	186		139,995		140,375		380		—
Expiring 05/11/18	Deutsche Bank AG	SGD	186		140,280		140,375		95		—
Expiring 05/11/18	Morgan Stanley	SGD	24		18,000		17,947		—		(53	)
South African Rand,
Expiring 06/12/18	Barclays Capital Group	ZAR	444		37,693		35,373		—		(2,320	)
Expiring 06/12/18	Citigroup Global Markets	ZAR	230		18,915		18,365		—		(550	)
Expiring 06/12/18	Toronto Dominion	ZAR	263		21,812		20,966		—		(846	)
South Korean Won,
Expiring 05/09/18	Barclays Capital Group	KRW	66,676		63,282		62,442		—		(840	)
Expiring 05/09/18	Deutsche Bank AG	KRW	196,800		182,071		184,303		2,232		—
Thai Baht,
Expiring 05/11/18	Citigroup Global Markets	THB	851		27,000		26,957		—		(43	)
Expiring 05/11/18	Citigroup Global Markets	THB	918		29,000		29,083		83		—
Expiring 05/11/18	Citigroup Global Markets	THB	1,231		39,000		39,030		30		—
Expiring 05/11/18	Citigroup Global Markets	THB	1,352		43,000		42,845		—		(155	)
Expiring 05/11/18	Citigroup Global Markets	THB	2,083		67,000		66,015		—		(985	)
Expiring 05/11/18	Citigroup Global Markets	THB	5,259		166,934		166,696		—		(238	)

See Notes to Financial Statements.

24

Forward foreign currency exchange contracts outstanding at April 30, 2018 (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.):
Turkish Lira,
Expiring 06/12/18		Barclays Capital Group	TRY	107	$	25,320	$	25,897	$	577	$	—
Expiring 06/12/18		Barclays Capital Group	TRY	255		62,821		61,880		—		(941	)
Expiring 06/12/18		Citigroup Global Markets	TRY	20		5,000		4,960		—		(40	)
Expiring 06/12/18		Citigroup Global Markets	TRY	51		12,500		12,274		—		(226	)
Expiring 06/12/18		Citigroup Global Markets	TRY	110		28,085		26,678		—		(1,407	)
Expiring 06/12/18		Citigroup Global Markets	TRY	157		38,084		38,016		—		(68	)
Expiring 06/12/18		Citigroup Global Markets	TRY	180		43,775		43,755		—		(20	)
Expiring 06/12/18		Citigroup Global Markets	TRY	205		50,621		49,695		—		(926	)
Expiring 06/12/18		Goldman Sachs & Co.	TRY	194		46,500		47,035		535		—
					$	5,303,714	$	5,227,140	$	12,640	$	(89,214	)
Sales Contracts	Counterparty		Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts:
Argentine Peso,
Expiring 05/03/18		BNP Paribas	ARS	457	$	22,310	$	22,223	$	87	$	—
Expiring 05/03/18		Citigroup Global Markets	ARS	1,067		52,057		51,835		222		—
Expiring 05/03/18		Citigroup Global Markets	ARS	818		39,833		39,765		68		—
Australian Dollar,
Expiring 07/12/18		Bank of America	AUD	263		202,839		198,335		4,504		—
Expiring 07/12/18		Citigroup Global Markets	AUD	82		63,002		61,701		1,301		—
Expiring 07/12/18		JPMorgan Chase	AUD	116		87,347		87,121		226		—
Brazilian Real,
Expiring 05/03/18		Citigroup Global Markets	BRL	258		75,326		73,748		1,578		—
Expiring 05/03/18		Goldman Sachs & Co.	BRL	776		222,597		221,577		1,020		—
Expiring 05/03/18		UBS AG	BRL	110		32,000		31,431		569		—
Expiring 07/03/18		BNP Paribas	BRL	220		62,576		62,481		95		—
British Pound,
Expiring 07/26/18		Bank of America	GBP	24		33,719		33,267		452		—
Expiring 07/26/18		Citigroup Global Markets	GBP	48		67,000		66,131		869		—
Canadian Dollar,
Expiring 07/12/18		Bank of America	CAD	96		75,651		75,233		418		—
Expiring 07/12/18		Morgan Stanley	CAD	93		73,000		72,929		71		—
Chilean Peso,
Expiring 07/13/18		Barclays Capital Group	CLP	18,147		30,000		29,580		420		—
Expiring 07/13/18		Barclays Capital Group	CLP	14,673		24,181		23,917		264		—
Expiring 07/13/18		Barclays Capital Group	CLP	7,094		11,646		11,564		82		—
Expiring 07/13/18		Citigroup Global Markets	CLP	16,415		26,916		26,757		159		—
Expiring 07/13/18		UBS AG	CLP	15,004		25,000		24,457		543		—

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 25

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Forward foreign currency exchange contracts outstanding at April 30, 2018 (continued):

Sales 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,
Expiring 07/24/18	Citigroup Global Markets	CNH	3	$	471	$	468	$	3	$	—
Colombian Peso,
Expiring 06/15/18	Citigroup Global Markets	COP	82,824		28,999		29,467		—		(468	)
Czech Koruna,
Expiring 07/12/18	Morgan Stanley	CZK	353		17,000		16,711		289		—
Expiring 07/12/18	UBS AG	CZK	1,327		62,894		62,884		10		—
Euro,
Expiring 07/26/18	Barclays Capital Group	EUR	19		23,138		22,730		408		—
Expiring 07/26/18	Citigroup Global Markets	EUR	7,162		8,809,367		8,708,115		101,252		—
Expiring 07/26/18	Citigroup Global Markets	EUR	104		125,787		125,890		—		(103	)
Expiring 07/26/18	Citigroup Global Markets	EUR	45		55,000		54,903		97		—
Expiring 07/26/18	Morgan Stanley	EUR	43		53,000		52,580		420		—
Expiring 07/26/18	Morgan Stanley	EUR	28		34,000		33,612		388		—
Expiring 07/26/18	UBS AG	EUR	270		332,833		328,306		4,527		—
Hungarian Forint,
Expiring 07/24/18	Morgan Stanley	HUF	7,966		31,000		30,839		161		—
Israeli Shekel,
Expiring 07/26/18	Citigroup Global Markets	ILS	634		179,818		177,120		2,698		—
Japanese Yen,
Expiring 07/26/18	Citigroup Global Markets	JPY	6,805		62,953		62,637		316		—
Mexican Peso,
Expiring 06/28/18	Citigroup Global Markets	MXN	602		32,000		31,899		101		—
New Taiwanese Dollar,
Expiring 07/13/18	Barclays Capital Group	TWD	10,460		360,963		355,456		5,507		—
New Zealand Dollar,
Expiring 07/12/18	Citigroup Global Markets	NZD	345		252,188		243,037		9,151		—
Norwegian Krone,
Expiring 07/24/18	Morgan Stanley	NOK	127		16,000		15,919		81		—
Peruvian Nuevo Sol,
Expiring 07/13/18	UBS AG	PEN	55		17,000		16,916		84		—
Philippine Peso,
Expiring 06/14/18	Barclays Capital Group	PHP	3,556		68,000		68,552		—		(552	)
Expiring 06/14/18	Barclays Capital Group	PHP	3,309		62,667		63,804		—		(1,137	)
Expiring 06/14/18	Barclays Capital Group	PHP	1,781		34,001		34,332		—		(331	)
Expiring 06/14/18	Barclays Capital Group	PHP	1,576		30,000		30,379		—		(379	)
Expiring 06/14/18	Barclays Capital Group	PHP	1,000		19,000		19,275		—		(275	)
Expiring 06/14/18	Deutsche Bank AG	PHP	2,377		45,323		45,830		—		(507	)
Polish Zloty,
Expiring 07/24/18	Morgan Stanley	PLN	178		51,000		50,786		214		—

See Notes to Financial Statements.

26

Forward foreign currency exchange contracts outstanding at April 30, 2018 (continued):

Sales Contracts	Counterparty		Notional Amount (000)		Value at Settlement Date		Current Value		Unrealized Appreciation		Unrealized Depreciation
OTC forward foreign currency exchange contracts (cont’d.):
Russian Ruble,
Expiring 07/13/18		Barclays Capital Group	RUB	2,5 18	$	39,700	$	39,625	$	75	$	—
Expiring 07/13/18		Barclays Capital Group	RUB	2,049		32,700		32,243		457		—
Expiring 07/13/18		Barclays Capital Group	RUB	1,854		30,510		29,178		1,332		—
Singapore Dollar,
Expiring 05/11/18		JPMorgan Chase	SGD	31		23,000		23,034		—		(34	)
Expiring 05/11/18		Morgan Stanley	SGD	73		56,000		55,343		657		—
Expiring 05/11/18		Morgan Stanley	SGD	25		19,000		18,972		28		—
Expiring 05/11/18		Morgan Stanley	SGD	21		16,000		16,040		—		(40	)
South African Rand,
Expiring 06/12/18		Toronto Dominion	ZAR	502		40,000		40,039		—		(39	)
South Korean Won,
Expiring 05/09/18		BNP Paribas	KRW	55,020		51,000		51,526		—		(526	)
Expiring 05/09/18		BNP Paribas	KRW	29,753		28,000		27,864		136		—
Expiring 05/09/18		BNP Paribas	KRW	26,018		24,000		24,366		—		(366	)
Expiring 05/09/18		Citigroup Global Markets	KRW	41,794		39,000		39,140		—		(140	)
Swedish Krona,
Expiring 07/24/18		Bank of America	SEK	1,619		194,354		186,204		8,150		—
Swiss Franc,
Expiring 07/24/18		Bank of America	CHF	641		660,624		651,534		9,090		—
Expiring 07/24/18		JPMorgan Chase	CHF	12		12,001		11,878		123		—
Expiring 07/24/18		Toronto Dominion	CHF	47		49,033		47,864		1,169		—
Thai Baht,
Expiring 05/11/18		Citigroup Global Markets	THB	2,213		71,000		70,152		848		—
Expiring 05/11/18		Citigroup Global Markets	THB	1,258		40,000		39,880		120		—
Expiring 05/11/18		Citigroup Global Markets	THB	1,194		38,000		37,843		157		—
Expiring 05/11/18		Citigroup Global Markets	THB	724		23,000		22,954		46		—
Expiring 05/11/18		Citigroup Global Markets	THB	596		19,000		18,901		99		—
Expiring 05/11/18		Citigroup Global Markets	THB	471		15,000		14,941		59		—
Turkish Lira,
Expiring 06/12/18		Barclays Capital Group	TRY	149		37,568		36,155		1,413		—
Expiring 06/12/18		UBS AG	TRY	253		62,595		61,314		1,281		—
Expiring 06/12/18		UBS AG	TRY	247		62,535		59,870		2,665		—
Expiring 06/12/18		UBS AG	TRY	201		50,218		48,842		1,376		—
Expiring 06/12/18		UBS AG	TRY	150		37,624		36,395		1,229		—
					$	13,802,864	$	13,638,596	$	169,165	$	(4,897	)
									$	181,805	$	(94,111	)

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 27

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Cross currency exchange contracts outstanding at April 30, 2018:

Settlement	Type	Notional Amount (000)		In Exchange For (000)		Unrealized Appreciation		Unrealized Depreciation		Counterparty
OTC cross currency exchange contracts:
07/12/2018	Buy	CAD	80	JPY	6,691	$	747	$	—		Barclays Capital Group
07/24/2018	Buy	CHF	242	EUR	202		124		—		Citigroup Global Markets
						$	871	$	—

Credit default swap agreements outstanding at April 30, 2018:

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)		Implied Credit Spread at April 30, 2018(5)			Fair Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)			Counterparty
OTC credit default swaps on corporate and/or sovereign Issues—Sell Protection(2):
Arab Republic of Egypt		06/20/19		1.000%(Q)		70		1.305	%	$	(158	)	$	(209	)	$	51		Citigroup Global Markets
Russian Federation		12/20/22		1.000%(Q)		50		1.223	%		(419	)		(125	)		(294	)	Citigroup Global Markets
Russian Federation		06/20/23		1.000%(Q)		100		1.318	%		(1,371	)		(1,665	)		294		Morgan Stanley
Russian Federation		06/20/23		1.000%(Q)		50		1.318	%		(686	)		(980	)		294		BNP Paribas
Russian Federation		06/20/23		1.000%(Q)		150		1.318	%		(2,057	)		(2,987	)		930		Morgan Stanley
State Bank of India		06/20/18		1.000%(Q)		100		0.148	%		237			121			116		Morgan Stanley
										$	(4,454	)	$	(5,845	)	$	1,391

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)			Value at Trade Date			Value at April 30, 2018(4)			Unrealized Appreciation (Depreciation)
Centrally cleared credit default swaps on credit indices—Buy Protection(1):
CDX.NA.IG.29.V1		12/20/27		1.000%(Q)			280	$	(128	)	$	(460	)	$	(332	)
iTraxx.EUR.28.V1		12/20/27		1.000%(Q)		EUR	210		(914	)		(2,496	)		(1,582	)
								$	(1,042	)	$	(2,956	)	$	(1,914	)

See Notes to Financial Statements.

28

Credit default swap agreements outstanding at April 30, 2018 (continued):

Reference Entity/ Obligation	Termination Date		Fixed Rate		Notional Amount (000)#(3)			Value at Trade Date			Value at April 30, 2018(4)			Unrealized Appreciation (Depreciation)
Centrally cleared credit default swaps on credit indices—Sell Protection(2):
CDX.EM.28.V2		12/20/22		1.000%(Q)			970	$	(11,218	)	$	(8,489	)	$	2,729
CDX.NA.HY.30.V1		06/20/23		5.000%(Q)			215		13,094			16,124			3,030
iTraxx.EUR.29.V1		06/20/23		1.000%(Q)		EUR	125		3,062			3,680			618
iTraxx.XO.28.V1		12/20/22		5.000%(Q)		EUR	95		13,837			13,738			(99	)
iTraxx.XO.29.V1		06/20/23		5.000%(Q)		EUR	150		19,182			20,375			1,193
								$	37,957		$	45,428		$	7,471

Reference Entity/ Obligation

Termination Date

Fixed Rate

Notional Amount (000)#(3)

Fair Value(4)

Upfront Premiums Paid (Received)

Unrealized Appreciation (Depreciation)

Counterparty

OTC credit default swaps on credit indices—Sell Protection(2):

CMBX.NA.6.AA

05/11/63

1.500%(M)

200

$

1,348

$

(1,136

)

$

2,484

JPMorgan Chase

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 and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(3) Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) The fair value of credit default swap agreements on credit indices and asset-backed securities 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.

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 29

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Credit default swap agreements outstanding at April 30, 2018 (continued):

(5) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements on corporate issues or sovereign issues of an emerging country 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 April 30, 2018:

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements:
AUD	450		03/07/23		2.600%(S)	6 Month BBSW(1)(S)	$	30		$	(479	)	$	(509	)
AUD	400		12/18/27		2.696%(S)	6 Month BBSW(2)(S)		—			(4,855	)		(4,855	)
BRL	3,065		01/04/21		9.175%(T)	1 Day BROIS(2)(T)		—			37,873			37,873
BRL	569		01/02/25		9.943%(T)	1 Day BROIS(2)(T)		—			6,702			6,702
CAD	5,350		01/09/20		1.716%(S)	3 Month Canadian Bankers Acceptance(2)(S)		(14,644	)		(31,081	)		(16,437	)
CAD	1,260		05/08/22		1.367%(S)	3 Month Canadian Bankers Acceptance(1)(S)		27,453			42,434			14,981
CAD	850		03/22/23		2.480%(S)	3 Month Canadian Bankers Acceptance(2)(S)		(1,074	)		(333	)		741
CAD	50		01/09/38		2.720%(S)	3 Month Canadian Bankers Acceptance(2)(S)		—			(374	)		(374	)
CAD	50		05/30/47		2.240%(S)	3 Month Canadian Bankers Acceptance(2)(S)		(1,614	)		(4,107	)		(2,493	)
CAD	40		01/09/48		2.640%(S)	3 Month Canadian Bankers Acceptance(1)(S)		—			728			728
CHF	610		02/23/23		0.040%(A)	6 Month CHF LIBOR(2)(S)		2,837			1,835			(1,002	)
CHF	40		04/03/28		0.410%(A)	6 Month CHF LIBOR(2)(S)		—			(334	)		(334	)
CHF	20		04/03/33		0.687%(A)	6 Month CHF LIBOR(2)(S)		—			(209	)		(209	)
CZK	11,200		04/24/20		1.198%(A)	3 Month PRIBOR(1)(Q)		(88	)		(507	)		(419	)
EUR	915		05/11/20		(0.054%)(A)	6 Month EURIBOR(2)(S)		1,838			1,923			85
EUR	270		11/23/22		0.197%(A)	6 Month EURIBOR(1)(S)		(299	)		1,726			2,025
EUR	235		10/30/32		1.302%(A)	6 Month EURIBOR(2)(S)		5,922			1,724			(4,198	)
EUR	150		01/26/48		1.853%(A)	3 Month EURIBOR(2)(Q)		—			1,252			1,252
EUR	150		01/26/48		1.863%(A)	6 Month EURIBOR(1)(S)		—			(1,214	)		(1,214	)
EUR	100		03/19/48		1.650%(A)	3 Month EURIBOR(2)(Q)		—			(36	)		(36	)
EUR	100		03/19/48		1.658%(A)	6 Month EURIBOR(1)(S)		—			21			21
GBP	220		12/07/27		1.364%(A)	1 Day SONIA(1)(A)		(534	)		(3,437	)		(2,903	)
GBP	475		12/21/31		1.534%(S)	6 Month GBP LIBOR(2)(S)		15,273			(6,753	)		(22,026	)
GBP	420		05/08/37		1.450%(S)	6 Month GBP LIBOR(2)(S)		(3,902	)		(20,279	)		(16,377	)
GBP	290		05/08/47		1.400%(S)	6 Month GBP LIBOR(1)(S)		6,890			23,444			16,554
HUF	43,000		03/18/26		2.140%(A)	6 Month BUBOR(2)(S)		9,737			6,467			(3,270	)

See Notes to Financial Statements.

30

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate		Floating Rate	Value at Trade Date			Value at April 30, 2018			Unrealized Appreciation (Depreciation)
	Centrally cleared swap agreements (cont’d.):
JPY	73,000		11/24/22		0.096%(S)	6 Month JPY LIBOR(1)(S)	$	(93	)	$	421		$	514
JPY	11,500		01/04/23		0.115%(S)	6 Month JPY LIBOR(2)(S)		—			26			26
JPY	59,000		12/18/27		0.290%(S)	6 Month JPY LIBOR(2)(S)		—			44			44
JPY	53,000		12/18/32		0.516%(S)	6 Month JPY LIBOR(2)(S)		—			1,185			1,185
JPY	176,500		12/18/37		0.715%(S)	6 Month JPY LIBOR(2)(S)		—			8,510			8,510
JPY	4,500		01/04/38		0.757%(S)	6 Month JPY LIBOR(2)(S)		—			526			526
JPY	16,700		12/18/47		0.918%(S)	6 Month JPY LIBOR(2)(S)		—			1,690			1,690
MXN	7,650		12/23/27		7.845%(M)	28 Day Mexican Interbank Rate(2)(M)		(2	)		2,413			2,415
NOK	13,600		11/23/22		1.373%(A)	6 Month NIBOR(2)(S)		(10,115	)		(31,518	)		(21,403	)
NOK	1,680		03/15/27		2.103%(A)	6 Month NIBOR(2)(S)		5,750			(1,609	)		(7,359	)
PLN	2,100		09/09/23		1.900%(A)	6 Month WIBOR(2)(S)		(19,526	)		(9,975	)		9,551
SEK	5,500		02/23/23		0.575%(A)	3 Month STIBOR(1)(Q)		(989	)		(3,398	)		(2,409	)
SEK	2,000		04/25/23		0.750%(A)	3 Month STIBOR(2)(Q)		4,078			2,626			(1,452	)
SEK	2,325		06/22/27		1.031%(A)	3 Month STIBOR(2)(Q)		(351	)		(536	)		(185	)
	20,000		01/30/19		2.135%(T)	1 Day USOIS(1)(T)		—			2,642			2,642
	2,000		02/15/19		1.820%(T)	1 Day USOIS(1)(T)		—			1,896			1,896
	6,100		09/08/19		1.290%(A)	1 Day USOIS(1)(A)		47,587			73,626			26,039
	2,970		12/31/19		1.840%(A)	1 Day USOIS(1)(A)		8,801			20,985			12,184
	2,120		12/31/19		1.950%(A)	1 Day USOIS(1)(A)		—			10,972			10,972
	2,750		12/31/19		2.040%(A)	1 Day USOIS(1)(A)		31			9,976			9,945
	650		04/24/20		2.311%(A)	1 Day USOIS(1)(A)		—			270			270
	915		05/31/22		2.353%(A)	1 Day USOIS(1)(A)		—			4,445			4,445
	5,715		08/31/22		2.550%(A)	1 Day USOIS(1)(A)		—			(3,459	)		(3,459	)
	670		03/15/23		2.786%(S)	3 Month LIBOR(1)(Q)		733			2,771			2,038
	265		03/26/23		2.791%(S)	3 Month LIBOR(2)(Q)		(32	)		(1,188	)		(1,156	)
	1,595		11/15/24		2.334%(S)	3 Month LIBOR(1)(Q)		11,002			56,662			45,660
	200		02/14/25		—(3)	—(3)		—			(20	)		(20	)
	590		02/28/25		2.454%(A)	1 Day USOIS(1)(A)		—			3,466			3,466
	600		02/28/25		3.020%(S)	1 Day USOIS(1)(Q)		—			(2,731	)		(2,731	)
	285		03/26/28		2.884%(S)	3 Month LIBOR(1)(Q)		65			1,858			1,793
	100		03/26/33		2.942%(S)	3 Month LIBOR(2)(Q)		(32	)		(781	)		(749	)
	145		11/15/43		2.659%(S)	3 Month LIBOR(1)(Q)		—			9,404			9,404
ZAR	3,700		11/07/27		8.360%(Q)	3 Month JIBAR(2)(Q)		3,468			14,492			11,024
							$	98,200		$	227,822		$	129,622

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 31

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Interest rate swap agreements outstanding at April 30, 2018 (continued):

Notional Amount (000)#		Termination Date		Fixed Rate	Floating Rate	Fair Value			Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)			Counterparty
	OTC swap agreements:
AED	1,500		04/05/21	3.005%(A)	3 Month EIBOR(1)(Q)	$	976		$	—	$	976		BNP Paribas
CLP	95,000		12/20/27	4.260%(S)	1 Day CLOIS(2)(S)		2,542			—		2,542		JPMorgan Chase
COP	485,000		12/20/27	5.970%(Q)	1 Day COOIS(2)(Q)		1,993			—		1,993		JPMorgan Chase
ILS	550		04/26/28	1.915%(A)	3 Month TELBOR(2)(Q)		731			—		731		BNP Paribas
SAR	1,500		04/05/21	3.020%(A)	3 Month SAIBOR(2)(Q)		(804	)		—		(804	)	BNP Paribas
SAR	640		04/05/25	3.480%(A)	3 Month SAIBOR(1)(Q)		1,111			—		1,111		BNP Paribas
						$	6,549		$	—	$	6,549

A security with a market value of $606,632 has been segregated with JPMorgan to cover requirements for open centrally cleared swap contracts at April 30, 2018.

(1) The Fund pays the fixed rate and receives the floating rate.

(2) The Fund pays the floating rate and receives the fixed rate.

(3) The Fund pays the floating rate of 3 Month LIBOR quarterly and receives the floating rate of 1 Day USOIS plus 38.25 bps quarterly.

Balances Reported in the Statement of Assets and Liabilities for OTC Swap Agreements:

	Premiums Paid		Premiums Received		Unrealized Appreciation		Unrealized Depreciation
OTC Swap Agreements	$	121	$	(7,102)	$	11,522	$	(1,098	)

Fair Value Measurements:

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 1—unadjusted quoted prices generally in active markets for identical securities.

Level 2—quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates and other observable inputs.

Level 3—unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.

See Notes to Financial Statements.

32

The following is a summary of the inputs used as of April 30, 2018 in valuing such portfolio securities:

	Level 1		Level 2		Level 3
Investments in Securities
Asset-Backed Securities
Automobiles	$	—	$	29,887	$	—
Collateralized Loan Obligations		—		4,100,527		250,000
Consumer Loans		—		249,021		—
Residential Mortgage-Backed Securities		—		—		70,044
Commercial Mortgage-Backed Securities		—		2,417,862		—
Corporate Bonds
Brazil		—		131,665		—
Canada		—		253,230		—
China		—		122,151		—
France		—		130,199		—
Germany		—		505,692		—
Italy		—		379,467		—
Mexico		—		279,801		—
Netherlands		—		152,431		—
Russia		—		141,457		—
Spain		—		127,420		—
Supranational Bank		—		256,628		—
Switzerland		—		199,005		—
United Kingdom		—		592,005		—
United States		—		2,632,072		—
Residential Mortgage-Backed Securities		—		240,608		167,000
Sovereign Bonds
Argentina		—		363,738		—
Austria		—		155,066		—
Brazil		—		199,000		—
Bulgaria		—		130,239		—
Canada		—		120,780		—
Chile		—		124,322		—
Colombia		—		276,781		—
Croatia		—		217,955		—
Cyprus		—		447,768		—
Dominican Republic		—		102,250		—
France		—		373,822		—
Germany		—		90,590		—
Greece		—		515,934		—
Hungary		—		176,293		—
Indonesia		—		199,567		—
Israel		—		123,127		—
Italy		—		1,485,763		—

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 33

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

	Level 1		Level 2			Level 3
Investments in Securities (continued)
Sovereign Bonds (continued)
Malaysia	$	—	$	114,758		$	—
Mexico		—		497,715			—
New Zealand		—		148,913			—
Panama		—		196,500			—
Peru		—		132,389			—
Poland		—		212,208			—
Portugal		—		632,863			—
Romania		—		128,126			—
Saudi Arabia		—		190,784			—
Senegal		—		119,707			—
Spain		—		1,518,933			—
Sweden		—		334,029			—
Turkey		—		129,479			—
United Arab Emirates		—		191,212			—
Uruguay		—		100,750			—
U.S. Government Agency Obligation		—		172,592			—
U.S. Treasury Obligation		—		774,623			—
Affiliated Mutual Fund		1,187,481		—			—
Options Purchased		—		2,222			—
Options Written		—		(4,211	)		(1,398	)
Other Financial Instruments*
Futures Contracts		12,465		—			—
OTC Forward Foreign Currency Exchange Contracts		—		87,694			—
OTC Cross Currency Exchange Contracts		—		871			—
Centrally Cleared Credit Default Swap Agreements		—		5,557			—
OTC Credit Default Swap Agreements		—		(3,106	)		—
Centrally Cleared Interest Rate Swap Agreements		—		129,622			—
OTC Interest Rate Swap Agreements		—		6,549			—
Total	$	1,199,946	$	23,864,902		$	485,646

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and centrally cleared swap contracts, which are recorded at the unrealized appreciation (depreciation) on the instrument, and OTC swap contracts which are recorded at fair value.

During the period, there were no transfers between Level 1, Level 2 and Level 3 to report.

See Notes to Financial Statements.

34

The following is a reconciliation of assets in which unobservable inputs (Level 3) were used in determining fair value:

	Asset-Backed Securities		Residential Mortgage-Backed Securities		Options Written
Balance as of 10/31/2017
Realized gain (loss)	$	—	$	—	$	—
Change in unrealized appreciation (depreciation)		—		—		—
Purchases/Exchanges/Issuances		320,044		167,000		—
Sales/Paydowns		—		—		(1,398	)
Accrued discount/premium		—		—		—
Transfers into Level 3		—		—		—
Transfers out of Level 3		—		—		—
Balance as of 04/30/2018		320,044		167,000		(1,398	)
Change in unrealized appreciation (depreciation) relating to securities still held at reporting period end	$	—	$	—	$	—

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and centrally cleared swap contracts, which are recorded at the unrealized appreciation (depreciation) on the instrument, and OTC swap contracts which are recorded at fair value.

Level 3 securities as presented in the table above are being fair valued using pricing methodologies approved by Board, which contain unobservable inputs as follows:

Level 3 Securities	Fair Value as of April 30, 2018			Valuation Methodology		Unobservable Inputs
Asset-Backed Securities—Collateralized Loan Obligations	$	250,000			Market Approach	Single Broker Indicative Quote
Asset-Backed Securities—Residential Mortgage-Backed Securities		70,044			Market Approach	Single Broker Indicative Quote
Residential Mortgage-Backed Securities		167,000			Market Approach	Single Broker Indicative Quote
Options Written		(1,398	)		Market Approach	Single Broker Indicative Quote
	$	485,646

Industry Classification:

The industry classification of investments and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2018 were as follows:

Sovereign Bonds	38.9	%
Collateralized Loan Obligations	17.4
Commercial Mortgage-Backed Securities	9.7
Affiliated Mutual Fund	4.7
Banks	4.7
U.S. Treasury Obligation	3.1
Oil & Gas	2.8	%
Electric	2.7
Auto Manufacturers	1.6
Residential Mortgage-Backed Securities	1.9
Insurance	1.5
Media	1.4

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 35

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

Industry (cont’d.)
Pipelines	1.3	%
Multi-National	1.0
Consumer Loans	1.0
Commercial Services	0.9
Pharmaceuticals	0.9
Biotechnology	0.8
U.S. Government Agency Obligation	0.7
Entertainment	0.6
Healthcare-Products	0.5
Packaging & Containers	0.5
Apparel	0.4
Software	0.4
Automobiles	0.1
Housewares	0.4	%
Foods	0.3
Retail	0.3
Transportation	0.3
Healthcare-Services	0.2
Miscellaneous Manufacturing	0.1
Options Purchased	0.0	*
	101.1
Options Written	(0.0	)*
Liabilities in excess of other assets	(1.1	)
	100.0	%

* Less than +/- 0.05%

Effects of Derivative Instruments on the Financial Statements and Primary Underlying Risk Exposure:

The Fund invested in derivative instruments during the reporting period. The primary types of risk associated with these derivative instruments are credit contracts risk, foreign exchange contracts risk and interest rate contracts risk. The effect of such derivative instruments on the Fund’s financial position and financial performance as reflected in the Statement of Assets and Liabilities and Statement of Operations is presented in the summary below.

Fair values of derivative instruments as of April 30, 2018 as presented in the Statement of Assets and Liabilities:

Derivatives not accounted for as hedging instruments, carried at fair value	Asset Derivatives				Liability Derivatives
	Balance Sheet Location	Fair Value			Balance Sheet Location	Fair Value
Credit contracts	Due from/to broker—variation margin swaps	$	7,570	*	Due from/to broker—variation margin swaps	$	2,013	*
Credit contracts	Premiums paid for OTC swap agreements		121		Premiums received for OTC swap agreements		7,102
Credit contracts	Unaffiliated investments		2,222		Options written outstanding, at value		4,211
Credit contracts	Unrealized appreciation on OTC swap agreements		4,169		Unrealized depreciation on OTC swap agreements		294
Foreign exchange contracts	Unrealized appreciation on OTC cross currency exchange contracts		871		—		—

See Notes to Financial Statements.

36

Derivatives not accounted for as hedging instruments, carried at fair value	Asset Derivatives				Liability Derivatives
	Balance Sheet Location	Fair Value			Balance Sheet Location	Fair Value
Foreign exchange contracts	Unrealized appreciation on OTC forward foreign currency exchange contracts	$	181,805		Unrealized depreciation on OTC forward foreign currency exchange contracts	$	94,111
Interest rate contracts	Due from/to broker-variation margin futures		46,789	*	Due from/to broker-variation margin futures		34,324	*
Interest rate contracts	Due from/to broker-variation margin swaps		247,201	*	Due from/to broker-variation margin swaps		117,579	*
Interest rate contracts	—		—		Options written outstanding, at value		1,398
Interest rate contracts	Unrealized appreciation on OTC swap agreements		7,353		Unrealized depreciation on OTC swap agreements		804
Total		$	498,101			$	261,836

* Includes cumulative appreciation (depreciation) as reported in the schedule of open futures and centrally cleared swap contracts. Only unsettled variation margin receivable (payable) is reported within the Statement of Assets and Liabilities.

The effects of derivative instruments on the Statement of Operations for the period ended April 30, 2018 are as follows:

Amount of Realized Gain (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments, carried at fair value	Options Purchased(1)			Options Written		Futures			Forward & Cross Currency Contracts			Swaps
Credit contracts	$	785		$	1,931	$	—		$	—		$	7,779
Foreign exchange contracts		—			—		—			(280,072	)		—
Interest rate contracts		(449	)		401		(57,923	)		—			2,104
Total	$	336		$	2,332	$	(57,923	)	$	(280,072	)	$	9,883

(1) Included in net realized gain (loss) on investment transactions in the Statement of Operations.

Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments, carried at fair value	Options Purchased(2)		Options Written			Futures		Forward & Cross Currency Contracts		Swaps
Credit contracts	$	158	$	(14	)	$	—	$	—	$	9,432
Foreign exchange contracts		—		—			—		88,565		—
Interest rate contracts		—		(1,027	)		12,465		—		136,171
Total	$	158	$	(1,041	)	$	12,465	$	88,565	$	145,603

(2) Included in net change in unrealized appreciation (depreciation) on investments in the Statement of Operations.

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 37

Schedule of Investments (unaudited) (continued)

as of April 30, 2018

For the period ended April 30, 2018, the Fund’s average volume of derivative activities is as follows:

Options Purchased(1)		Options Written(4)		Futures Contracts— Long Positions(4)		Futures Contracts— Short Positions(4)		Forward Foreign Currency Exchange Contracts— Purchased(3)		Forward Foreign Currency Exchange Contracts— Sold(3)
$	1,245	$	470,039	$	12,214,558	$	9,264,411	$	5,777,908	$	14,513,473

Cross Currency Exchange Contracts(2)		Credit Default Swap Agreements— Buy Protection(4)		Credit Default Swap Agreements— Sell Protection(4)		Inflation Swap Agreements(4)		Interest Rate Swap Agreements(4)
$	347,453	$	266,798	$	1,857,477	$	390,459	$	59,168,742

(1) Cost.

(2) Value at Trade Date.

(3) Value at Settlement Date.

(4) Notional Amount in USD.

Financial Instruments/Transactions—Summary of Offsetting and Netting Arrangements:

The Fund invested in OTC derivatives during the reporting period that are either offset in accordance with current requirements or are subject to enforceable master netting arrangements or similar agreements that permit offsetting. The information about offsetting and related netting arrangements for OTC derivatives, where the legal right to set-off exists, is presented in the summary below.

Offsetting of OTC derivative assets and liabilities:

Counterparty	Gross Amounts of Recognized Assets(1)		Gross Amounts of Recognized Liabilities(1)			Net Amounts of Recognized Assets/ (Liabilities)			Collateral Pledged/ (Received)(2)		Net Amount
Bank of America	$	22,994	$	(7,802	)	$	15,192		$	—	$	15,192
Barclays Capital Group		14,953		(19,295	)		(4,342	)		—		(4,342	)
BNP Paribas		3,430		(2,676	)		754			—		754
Citigroup Global Markets		124,753		(19,342	)		105,411			—		105,411
Deutsche Bank AG		2,601		(11,160	)		(8,559	)		—		(8,559	)

See Notes to Financial Statements.

38

Counterparty	Gross Amounts of Recognized Assets(1)		Gross Amounts of Recognized Liabilities(1)			Net Amounts of Recognized Assets/ (Liabilities)			Collateral Pledged/ (Received)(2)		Net Amount
Goldman Sachs & Co.	$	1,555	$	(1,980	)	$	(425	)	$	—	$	(425	)
JPMorgan Chase		8,702		(3,523	)		5,179			—		5,179
Morgan Stanley		3,770		(30,538	)		(26,768	)		—		(26,768	)
Toronto Dominion		1,169		(1,443	)		(274	)		—		(274	)
UBS AG		12,614		(10,161	)		2,453			—		2,453
	$	196,541	$	(107,920	)	$	88,621		$	—	$	88,621

(1) Includes unrealized appreciation/(depreciation) on swaps and forwards, premiums paid/(received) on swap agreements and market value of purchased and written options, as represented on the Statement of Assets and Liabilities.

(2) Collateral amount disclosed by the Fund is limited to the Fund’s OTC derivative exposure by counterparty.

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 39

Statement of Assets & Liabilities (unaudited)

as of April 30, 2018

Assets
Investments at value:
Unaffiliated investments (cost $24,329,092)	$	24,128,970
Affiliated investments (cost $1,187,481)		1,187,481
Cash		30,645
Foreign currency, at value (cost $72,508)		71,847
Interest receivable		196,829
Unrealized appreciation on OTC forward foreign currency exchange contracts		181,805
Due from broker—variation margin futures		21,939
Due from Manager		12,795
Unrealized appreciation on OTC swap agreements		11,522
Receivable for investments sold		10,817
Due from broker—variation margin swaps		9,505
Receivable for Fund shares sold		5,240
Unrealized appreciation on OTC cross currency exchange contracts		871
Premium paid for OTC swap agreements		121
Prepaid expenses		54,336
Total assets		25,924,723
Liabilities
Payable for investments purchased		756,346
Unrealized depreciation on OTC forward foreign currency exchange contracts		94,111
Accrued expenses and other liabilities		18,722
Premium received for OTC swap agreements		7,102
Options written outstanding, at value (premiums received $4,568)		5,609
Payable for Fund shares reacquired		5,240
Unrealized depreciation on OTC swap agreements		1,098
Deposit due to broker—futures		551
Affiliated transfer agent fee payable		40
Distribution fee payable		17
Total liabilities		888,836
Net Assets	$	25,035,887
Net assets were comprised of:
Common Stock, at par	$	25,530
Paid-in capital in excess of par		25,499,940
		25,525,470
Distributions in excess of net investment income		(112,584	)
Accumulated net realized loss on investment and foreign currency transactions		(420,876	)
Net unrealized appreciation on investments and foreign currencies		43,877
Net assets, April 30, 2018	$	25,035,887

See Notes to Financial Statements.

40

Class A
Net asset value, offering price and redemption price per share, ($44,006 ÷ 4,488 shares of common stock issued and outstanding)	$	9.81
Maximum sales charge (4.50% of offering price)		0.46
Maximum offering price to public	$	10.27
Class C
Net asset value, offering price and redemption price per share,
($9,882 ÷ 1,008 shares of common stock issued and outstanding)	$	9.81
Class Z
Net asset value, offering price and redemption price per share,
($166,973 ÷ 17,027 shares of common stock issued and outstanding)	$	9.81
Class R6
Net asset value, offering price and redemption price per share,
($24,815,026 ÷ 2,530,454 shares of common stock issued and outstanding)	$	9.81

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 41

Statement of Operations (unaudited)

Period* Ended April 30, 2018

Net Investment Income (Loss)
Income
Interest income	$	217,988
Affiliated dividend income		16,101
Unaffiliated dividend income		1,395
Total income		235,484
Expenses
Management fee		47,618
Distribution fee(a)		78
Custodian and accounting fees		37,608
Registration fees(a)		29,640
Audit fee		16,419
Legal fees and expenses		10,973
Shareholders’ reports		7,150
Directors’ fees		4,328
Transfer agent’s fees and expenses (including affiliated expense of $117)(a)		2,030
Miscellaneous		6,592
Total expenses		162,436
Less: Fee waiver and/or expense reimbursement(a)		(107,081	)
Net expenses		55,355
Net investment income (loss)		180,129
Realized And Unrealized Gain (Loss) On Investments And Foreign Currency Transactions
Net realized gain (loss) on:
Investment transactions		(196,187	)
Futures transactions		(57,923	)
Forward and cross currency contracts		(280,072	)
Options written transactions		2,332
Swap agreements transactions		9,883
Foreign currency transactions		101,091
		(420,876	)
Net change in unrealized appreciation (depreciation) on:
Investments		(200,122	)
Futures		12,465
Options written		(1,041	)
Swap agreements		145,603
Forward and cross currency contracts		88,565
Foreign currencies		(1,593	)
		43,877
Net gain (loss) on investment and foreign currency transactions		(376,999	)
Net Increase (Decrease) In Net Assets Resulting From Operations	$	(196,870	)

* Commencement of operations.

See Notes to Financial Statements.

42

(a) Class specific expenses and waivers were as follows:    

	Class A			Class C			Class Z			Class R6
Distribution fee		40			38			—			—
Transfer agent’s fees and expenses		662			662			662			44
Registration fees		7,410			7,410			7,410			7,410
Fee waiver and/or expense reimbursement		(8,190	)		(8,099	)		(8,510	)		(82,282	)

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 43

Statements of Changes in Net Assets (unaudited)

	December 12, 2017* through April 30, 2018
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	180,129
Net realized gain (loss) on investment and foreign currency transactions		(420,876	)
Net change in unrealized appreciation (depreciation) on investments and foreign currencies		43,877
Net increase (decrease) in net assets resulting from operations		(196,870	)
Dividends from net investment income
Class A		(454	)
Class C		(77	)
Class Z		(1,827	)
Class R6		(290,355	)
		(292,713	)
Fund share transactions
Net proceeds from shares sold		25,232,752
Net asset value of shares issued in reinvestment of dividends and distributions		292,718
Net increase (decrease) in net assets from share transactions		25,525,470
Total increase (decrease)		25,035,887
Net Assets:
Beginning of period		—
End of period(a)	$	25,035,887
(a) Includes undistributed/(distributions in excess of) net investment income of:	$	(112,584	)

* Commencement of operations.

See Notes to Financial Statements.

44

Notes to Financial Statements (unaudited)

Prudential Global Total Return Fund, Inc. (the “Company”) is registered under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company and currently consists of two funds: PGIM Global Total Return (USD Hedged) Fund and PGIM Global Total Return Fund, each of which are non-diversified funds for purposes of the 1940 Act and may invest a greater percentage of their assets in the securities of a single company or other issuer than a diversified fund. Investing in a non-diversified fund involves greater risk than investing in a diversified fund because a loss resulting from the decline in value of any one security may represent a greater portion of the total assets of a non-diversified fund. These financial statements relate only to the PGIM Global Total Return (USD Hedged) Fund (the “Fund”). The Fund commenced operations on December 12, 2017. Effective June 11, 2018, the Funds’ name was changed by replacing “Prudential” with “PGIM” in each Fund’s name and Class Q shares were renamed Class R6 shares.

The investment objective of the Fund is to seek total return, through a combination of current income and capital appreciation.

1. Accounting Policies

The Fund follows investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standard Codification Topic 946 Financial Services—Investment Companies. The following accounting policies conform to U.S. generally accepted accounting principles. The Fund consistently follows such policies in the preparation of its financial statements.

Securities Valuation: The Fund holds securities and other assets and liabilities that are fair valued at the close of each day (generally, 4:00 PM Eastern time) the New York Stock Exchange (“NYSE”) is open for trading. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Board of Directors (the “Board”) has adopted valuation procedures for security valuation under which fair valuation responsibilities have been delegated to PGIM Investments LLC (“PGIM Investments” or “the Manager”). Under the current valuation procedures, the Valuation Committee is responsible for supervising the valuation of portfolio securities and other assets and liabilities. The valuation procedures permit the Fund to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. A record of the Valuation Committee’s actions is subject to the Board’s review, approval, and ratification at its next regularly scheduled quarterly meeting.

PGIM Global Total Return (USD Hedged) Fund 45

Notes to Financial Statements (unaudited) (continued)

For the fiscal reporting period-end, securities and other assets and liabilities were fair valued at the close of the last U.S. business day. Trading in certain foreign securities may occur when the NYSE is closed (including weekends and holidays). Because such foreign securities trade in markets that are open on weekends and U.S. holidays, the values of some of the Fund’s foreign investments may change on days when investors cannot purchase or redeem Fund shares.

Various inputs determine how the Fund’s investments are valued, all of which are categorized according to the three broad levels (Level 1, 2, or 3) detailed in the Schedule of Investments.

Derivative instruments, such as futures or options, that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange where the security principally trades. Securities traded via NASDAQ are valued at the NASDAQ official closing price. To the extent these securities are valued at the last sale price or NASDAQ official closing price, they are classified as Level 1 in the fair value hierarchy.

Investments in open-end, non-exchange-traded mutual funds are valued at their net asset values as of the close of the NYSE on the date of valuation. These securities are classified as Level 1 in the fair value hierarchy since they may be purchased or sold at their net asset values on the date of valuation.

Fixed income securities traded in the OTC market are generally classified as Level 2 in the fair value hierarchy. Such fixed income securities are typically valued using the market approach which generally involves obtaining data from an approved independent third-party vendor source. The Fund utilizes the market approach as the primary method to value securities when market prices of identical or comparable instruments are available. The third-party vendors’ valuation techniques used to derive the evaluated bid price are based on evaluating observable inputs, including but not limited to, yield curves, yield spreads, credit ratings, deal terms, tranche level attributes, default rates, cash flows, prepayment speeds, broker/dealer quotations and reported trades. Certain Level 3 securities are also valued using the market approach when obtaining a single broker quote or when utilizing transaction prices for identical securities that have been used in excess of five business days.

During the reporting period, there were no changes to report with respect to the valuation approach and/or valuation techniques discussed above.

OTC derivative instruments are generally classified as Level 2 in the fair value hierarchy. Such derivative instruments are typically valued using the market approach and/or income approach which generally involves obtaining data from an approved independent third-party

46

vendor source. The Fund utilizes the market approach when quoted prices in broker-dealer markets are available but also includes consideration of alternative valuation approaches, including the income approach. In the absence of reliable market quotations, the income approach is typically utilized for purposes of valuing OTC derivatives such as interest rate swaps based on a discounted cash flow analysis whereby the value of the instrument is equal to the present value of its future cash inflows or outflows. Such analysis includes projecting future cash flows and determining the discount rate (including the present value factors that affect the discount rate) used to discount the future cash flows. In addition, the third-party vendors’ valuation techniques used to derive the evaluated OTC derivative price is based on evaluating observable inputs, including but not limited to, underlying asset prices, indices, spreads, interest rates and exchange rates. Certain OTC derivatives may be classified as Level 3 when valued using the market approach by obtaining a single broker quote or when utilizing unobservable inputs in the income approach. During the reporting period, there were no changes to report with respect to the valuation approach and/or valuation techniques discussed above.

Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are generally valued at the daily settlement price determined by the respective exchange. These securities are classified as Level 2 in the fair value hierarchy, as the daily settlement price is not public.

Securities and other assets that cannot be priced according to the methods described above are valued based on pricing methodologies approved by the Board. In the event that unobservable inputs are used when determining such valuations, the securities will be classified as Level 3 in the fair value hierarchy.

When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer’s financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of the issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the Manager regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security’s most recent closing price and from the price used by other unaffiliated mutual funds to calculate their net asset values.

Restricted and Illiquid Securities: Subject to guidelines adopted by the Board, the Fund may invest up to 15% of its net assets in illiquid securities, including those which are restricted as to disposition under securities law (“restricted securities”). Restricted securities are valued pursuant to the valuation procedures noted above. Illiquid securities are those that, because of the absence of a readily available market or due to legal or contractual restrictions on resale, cannot be sold within seven days in the ordinary course of business at approximately the amount at which the Fund has valued the investment. Therefore, the Fund may find it difficult to sell illiquid securities at the time considered most

PGIM Global Total Return (USD Hedged) Fund 47

Notes to Financial Statements (unaudited) (continued)

advantageous by its Subadviser and may incur transaction costs that would not be incurred in the sale of securities that were freely marketable. Certain securities that would otherwise be considered illiquid because of legal restrictions on resale to the general public may be traded among qualified institutional buyers under Rule 144A of the Securities Act of 1933. These Rule 144A securities, as well as commercial paper that is sold in private placements under Section 4(2) of the Securities Act, may be deemed liquid by the Fund’s Subadviser under the guidelines adopted by the Board of the Company. However, the liquidity of the Fund’s investments in Rule 144A securities could be impaired if trading does not develop or declines.

Foreign Currency Translation: The books and records of the Fund are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars on the following basis:

(i) market value of investment securities, other assets and liabilities—at the current rates of exchange;

(ii) purchases and sales of investment securities, income and expenses—at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets of the Fund are presented at the foreign exchange rates and market values at the close of the period, the Fund does not generally isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities held at the end of the period. Similarly, the Fund does not isolate the effect of changes in foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities sold during the period. Accordingly, holding period realized foreign currency gains (losses) are included in the reported net realized gains (losses) on investment transactions. Notwithstanding the above, the Fund does isolate the effect of fluctuations in foreign currency exchange rates when determining the gain (loss) upon the sale or maturity of foreign currency denominated debt obligations; such amounts are included in net realized gains (losses) on foreign currency transactions.

Additionally, net realized gains (losses) on foreign currency transactions represent net foreign exchange gains (losses) from the disposition of holdings of foreign currencies, currency gains (losses) realized between the trade and settlement dates on securities transactions, and the difference between the amounts of interest, dividends and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains (losses) from valuing foreign currency denominated assets and liabilities (other than investments) at period end exchange rates are reflected as a component of net unrealized appreciation (depreciation) on foreign currencies.

48

Forward and Cross Currency Contracts: A forward currency contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. The Fund enters into forward currency contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings or specific receivables and payables denominated in a foreign currency and to gain exposure to certain currencies. The contracts are valued daily at current forward exchange rates and any unrealized gain (loss) is included in net unrealized appreciation (depreciation) on investments and foreign currencies. Gain (loss) is realized on the settlement date of the contract equal to the difference between the settlement value of the original and negotiated forward contracts. This gain (loss), if any, is included in net realized gain (loss) on forward and cross currency contract transactions. Risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts. Forward currency contracts involve risks from currency exchange rate and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities. The Fund’s maximum risk of loss from counterparty credit risk is the net value of the cash flows to be received from the counterparty at the end of the contract’s life. A cross currency contract is a forward contract where a specified amount of one foreign currency will be exchanged for a specified amount of another foreign currency.

Options: The Fund purchased or wrote options in order to hedge against adverse market movements or fluctuations in value caused by changes in prevailing interest rates, value of equities or foreign currency exchange rates with respect to securities or financial instruments which the Fund currently owns or intends to purchase. The Fund may also use options to gain additional market exposure. The Fund’s principal reason for writing options is to realize, through receipt of premiums, a greater current return than would be realized on the underlying security alone. When the Fund purchases an option, it pays a premium and an amount equal to that premium is recorded as an asset. When the Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the option. If an option expires unexercised, the Fund realizes a gain (loss) to the extent of the premium received or paid. If an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost of the purchase in determining whether the Fund has realized a gain (loss). The difference between the premium and the amount received or paid at the closing of a purchase or sale transaction is also treated as a realized gain (loss). Gain (loss) on purchased options is included in net realized gain (loss) on investment transactions. Gain (loss) on written options is presented separately as net realized gain (loss) on options written transactions.

The Fund, as writer of an option, may have no control over whether the underlying securities or financial instruments may be sold (called) or purchased (put). As a result, the Fund bears the market risk of an unfavorable change in the price of the security or financial instrument underlying the written option. The Fund, as purchaser or an OTC option, bears the risk of the potential inability of the counterparties to meet the terms of their contracts. With exchange-traded options contracts, there is minimal counterparty credit risk to the Fund since the exchanges’ clearinghouse acts as counterparty to all exchange-traded options and guarantees the options contracts against default.

PGIM Global Total Return (USD Hedged) Fund 49

Notes to Financial Statements (unaudited) (continued)

When the Fund writes an option on a swap, an amount equal to any premium received by the Fund is recorded as a liability and is subsequently adjusted to the current market value of the written option on the swap. If a call option on a swap is exercised, the Fund becomes obligated to pay a fixed interest rate (noted as the strike price) and receive a variable interest rate on a notional amount. If a put option on a swap is exercised, the Fund becomes obligated to pay a variable interest rate and receive a fixed interest rate (noted as the strike price) on a notional amount. Premiums received from writing options on swaps that expire or are exercised are treated as realized gains upon the expiration or exercise of such options on swaps. The risk associated with writing put and call options on swaps is that the Fund will be obligated to be party to a swap agreement if an option on a swap is exercised.

Financial Futures Contracts: A financial futures contract is an agreement to purchase (long) or sell (short) an agreed amount of securities at a set price for delivery on a future date. Upon entering into a financial futures contract, the Fund is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount. This amount is known as the “initial margin.” Subsequent payments, known as “variation margin,” are made or received by the Fund each day, depending on the daily fluctuations in the value of the underlying security. Such variation margin is recorded for financial statement purposes on a daily basis as unrealized gain (loss). When the contract expires or is closed, the gain (loss) is realized and is presented in the Statement of Operations as net realized gain (loss) on futures transactions.

The Fund invested in financial futures contracts in order to hedge its existing portfolio securities, or securities the Fund intends to purchase, against fluctuations in value caused by changes in prevailing interest rates or foreign currency exchange rates. Should interest rates move unexpectedly, the Fund may not achieve the anticipated benefits of the financial futures contracts and may realize a loss. The use of futures transactions involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the underlying hedged assets. Since futures contracts are exchange-traded, there is minimal counterparty credit risk to the Fund since the exchanges’ clearinghouse acts as counterparty to all exchange-traded futures and guarantees the futures contracts against default.

Swap Agreements: The Fund may enter into credit default, interest rate and other types of swap agreements. A swap agreement is an agreement to exchange the return generated by one instrument for the return generated by another instrument. Swap agreements are negotiated in the OTC market and may be executed either directly with counterparty (“OTC-traded”) or through a central clearing facility, such as a registered exchange. Swap agreements are valued daily at current market value and any change in value is included in the net unrealized appreciation (depreciation) on swap agreements. Centrally cleared swaps

50

pay or receive an amount known as “variation margin”, based on daily changes in the valuation of the swap contract. Any upfront premiums paid and received are shown as swap premiums paid and swap premiums received in the Statement of Assets and Liabilities. Risk of loss may exceed amounts recognized on the Statement of Assets and Liabilities. Swap agreements outstanding at period end, if any, are listed on the Schedule of Investments.

Interest Rate Swaps: Interest rate swaps represent an agreement between counterparties to exchange cash flows based on the difference between two interest rates, applied to a notional principal amount for a specified period. The Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objective. The Fund used interest rate swaps to maintain its ability to generate steady cash flow by receiving a stream of fixed-rate payments and to increase exposure to prevailing market rates by receiving floating rate payments. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net present value of the cash flows to be received from the counterparty over the contract’s remaining life.

Inflation Swaps: The Fund entered into inflation swap agreements to protect against fluctuations in inflation rates. Inflation swaps are characterized by one party paying a fixed rate in exchange for a floating rate that is derived from an inflation index, such as the Consumer Price Index or UK Retail Price Index. Inflation swaps subject the Fund to interest rate risk.

Credit Default Swaps (“CDS”): CDS involve one party (the protection buyer) making a stream of payments to another party (the protection seller) in exchange for the right to receive a specified payment in the event of a default or as a result of a default (collectively a “credit event”) for the referenced entity (typically corporate issues or sovereign issues of an emerging country) on its obligation; or in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising a credit index.

The Fund is subject to credit risk in the normal course of pursuing its investment objectives, and as such, has entered into CDS contracts 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. The Fund’s maximum risk of loss from counterparty credit risk for purchased CDS is the inability of the counterparty to honor the contract up to the notional value due to a credit event.

As a seller of protection on credit default swap agreements, the Fund generally receives an agreed upon payment from the buyer of protection throughout the term of the swap, provided no credit event occurs. As the seller, the Fund effectively increases its investment risk because, in addition to its total net assets, the Fund may be subject to investment exposure on the notional amount of the swap.

PGIM Global Total Return (USD Hedged) Fund 51

Notes to Financial Statements (unaudited) (continued)

The maximum amount of the payment that the Fund, as a seller of protection, could be required to make under a credit default swap agreement would be equal to the notional amount of the underlying security or index contract as a result of a credit event. This potential amount will be partially offset by any recovery values of the respective referenced obligations, or net amounts received from the settlement of buy protection credit default swap agreements which the Fund entered into for the same referenced entity or index. As a buyer of protection, the Fund generally receives an amount up to the notional value of the swap if a credit event occurs.

Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues of an emerging country as of period end are disclosed in the footnotes to the Schedule of Investments, if applicable. These spreads serve as indicators of the current status of the payment/performance risk and represent the likelihood of default risk for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to enter into the agreement. For credit default swap agreements on asset-backed securities and credit indices, the quoted market prices and resulting values serve as indicators of the current status of the payment/performance risk. Wider credit spreads and increased market value in absolute terms, when compared to the notional amount of the swap, 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.

Master Netting Arrangements: The Fund is subject to various Master Agreements, or netting arrangements, with select counterparties. These are agreements which a subadviser may have negotiated and entered into on behalf of the Fund. A master netting arrangement between the Fund and the counterparty permits the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received; and by the receipt of collateral from the counterparty by the Fund to cover the Fund’s exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable. In addition to master netting arrangements, the right to set-off exists when all the conditions are met such that each of the parties owes the other determinable amounts, the reporting party has the right to set-off the amount owed with the amount owed by the other party, the reporting party intends to set-off and the right of set-off is enforceable by law. During the reporting period, there was no intention to settle on a net basis and all amounts are presented on a gross basis on the Statement of Assets and Liabilities.

The Fund is a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements with certain counterparties that govern OTC derivative and foreign exchange

52

contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral posted to the Fund is held in a segregated account by the Fund’s custodian and with respect to those amounts which can be sold or re-pledged, is presented in the Schedule of Investments. Collateral pledged by the Fund is segregated by the Fund’s custodian and identified in the Schedule of Investments. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by the Fund and the applicable counterparty. Collateral requirements are determined based on the Fund’s net position with each counterparty. Termination events applicable to the Fund may occur upon a decline in the Fund’s net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty’s long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the Fund’s counterparties to elect early termination could impact the Fund’s future derivative activity.

In addition to each instrument’s primary underlying risk exposure (e.g. interest rate, credit, equity or foreign exchange, etc.), swap agreements involve, to varying degrees, elements of credit, market and documentation risk. Such risks involve the possibility that no liquid market for these agreements will exist, the counterparty to the agreement may default on its obligation to perform or disagree on the contractual terms of the agreement, and changes in net interest rates will be unfavorable. In connection with these agreements, securities in the portfolio may be identified or received as collateral from the counterparty in accordance with the terms of the respective swap agreements to provide or receive assets of value and to serve as recourse in the event of default or bankruptcy/insolvency of either party. Such OTC derivative agreements include conditions which, when materialized, give the counterparty the right to cause an early termination of the transactions under those agreements. Any election by the counterparty for early termination of the contract(s) may impact the amounts reported on financial statements.

As of April 30, 2018, the Fund has not met conditions under such agreements which give the counterparty the right to call for an early termination.

Forward currency contracts, forward rate agreements, written options, short sales, swaps and financial futures contracts involve elements of both market and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities. Such risks may be mitigated by engaging in master netting arrangements.

PGIM Global Total Return (USD Hedged) Fund 53

Notes to Financial Statements (unaudited) (continued)

Concentration of Risk: The ability of debt securities issuers (other than those issued or guaranteed by the U.S. Government) held by the Fund to meet their obligations may be affected by the economic or political developments in a specific industry, region or country. Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of domestic origin as a result of, among other factors, the possibility of political or economic instability or the level of governmental supervision and regulation of foreign securities markets.

Securities Transactions and Net Investment Income: Securities transactions are recorded on the trade date. Realized gains (losses) from investment and currency transactions are calculated on the specific identification method. Dividend income is recorded on the ex-date. Interest income, including amortization of premium and accretion of discount on debt securities, as required, is recorded on the accrual basis. Expenses are recorded on an accrual basis, which may require the use of certain estimates by management that may differ from actual. Net investment income or loss (other than class specific expenses and waivers, which are allocated as noted below) and unrealized and realized gains (losses) are allocated daily to each class of shares based upon the relative proportion of adjusted net assets of each class at the beginning of the day.

Class specific expenses and waivers, where applicable, are charged to the respective share classes. Class specific expenses include distribution fees and distribution fee waivers, transfer agent’s fees and expenses, registration fees and fee waivers and/or expense reimbursements.

Taxes: It is the Fund’s policy to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable net investment income and capital gains, if any, to its shareholders. Therefore, no federal income tax provision is required. Withholding taxes on foreign dividends, interest and capital gains, if any, are recorded, net of reclaimable amounts, at the time the related income is earned.

Dividends and Distributions: The Fund declares daily dividends from net investment income and payment is made monthly. Distributions of net realized capital and currency gains, if any, are made annually. Dividends and distributions to shareholders, which are determined in accordance with federal income tax regulations and which may differ from generally accepted accounting principles, are recorded on the ex-date. Permanent book/tax differences relating to income and gain(loss) are reclassified amongst undistributed net investment income, accumulated net realized gain (loss) and paid-in capital in excess of par, as appropriate.

54

Estimates: The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

2. Agreements

The Fund has a management agreement with PGIM Investments. Pursuant to this agreement, PGIM Investments has responsibility for all investment advisory services and supervises the Subadviser’s performance of such services. In addition, under the management agreement, PGIM Investments provides all of the administrative functions necessary for the organization, operation and management of the Fund. PGIM Investments administers the corporate affairs of the Fund and, in connection therewith, furnishes the Fund with office facilities, together with those ordinary clerical and bookkeeping services which are not being furnished by, the Fund’s custodian (the Custodian), and the Fund’s transfer agent. PGIM Investments is also responsible for the staffing and management of dedicated groups of legal, marketing, compliance and related personnel necessary for the operation of the Fund. The legal, marketing, compliance and related personnel are also responsible for the management and oversight of the various service providers to the Fund, including, but not limited to, the custodian, transfer agent, and accounting agent.

PGIM Investments has entered into a subadvisory agreement with PGIM, Inc., which provides subadvisory services to the Fund through its PGIM Fixed Income unit. The subadvisory agreement provides that PGIM, Inc. will furnish investment advisory services in connection with the management of the Fund. In connection therewith, PGIM, Inc. is obligated to keep certain books and records of the Fund. PGIM Investments pays for the services of PGIM, Inc., the cost of compensation of officers of the Fund, occupancy and certain clerical and bookkeeping costs of the Fund. The Fund bears all other costs and expenses.

The management fee paid to PGIM Investments is accrued daily and payable monthly at an annual rate of 0.50% of the Fund’s average daily net assets up to $2 billion and 0.485% of such assets in excess of $2 billion. The effective management fee rate before any waivers and/or expense reimbursements, was 0.50% for the period ended April 30, 2018.

PGIM Investments has contractually agreed, through February 28, 2019, to limit total annual Fund operating expenses after fee waivers and/or expense reimbursements to 0.88% of average daily net assets for Class A shares, 1.63% of average daily net assets for Class C shares, 0.63% of average daily net assets for Class Z shares, and 0.58% of average daily net assets for Class R6 shares. This contractual waiver excludes interest, brokerage, taxes (such as income and foreign withholding taxes, stamp duty and deferred tax expenses), acquired fund fees and expenses, extraordinary expenses, and certain other Fund expenses such as dividend and interest expense and broker charges on short sales. Fees and/or expenses waived and/or reimbursed by the Manager may be recouped by the Manager within the same fiscal year during which such waiver and/or reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at

PGIM Global Total Return (USD Hedged) Fund 55

Notes to Financial Statements (unaudited) (continued)

the time of the recoupment for that fiscal year. The waiver and/or expense reimbursements exceeded the effective management fee rate for the period ended April 30, 2018.

The Fund has a distribution agreement with Prudential Investment Management Services LLC (“PIMS”) which acts as the distributor of the Class A, Class C, Class Z and Class R6 shares of the Fund. The Fund compensates PIMS for distributing and servicing the Fund’s Class A and Class C shares, pursuant to the plans of distribution (the “Distribution Plans”), regardless of expenses actually incurred by PIMS. The distribution fees are accrued daily and payable monthly. No distribution or service fees are paid to PIMS as distributor of the Class Z or Class R6 shares of the Fund.

Pursuant to the Distribution Plans, the Fund compensates PIMS for distribution related activities at an annual rate of up to 0.25% and 1% of the average daily net assets of the Class A and Class C shares, respectively.

PIMS has advised the Fund that it has received $688 in front-end sales charges resulting from sales of Class A shares, during the period ended April 30, 2018. From these fees, PIMS paid such sales charges to broker-dealers, which in turn paid commissions to sales persons and incurred other distribution costs.

PIMS has advised the Fund that for the period ended April 30, 2018 it has not received any contingent deferred sales charges imposed upon redemptions by certain Class A and Class C shareholders, respectively.

PGIM Investments, PGIM, Inc. and PIMS are indirect, wholly-owned subsidiaries of Prudential Financial, Inc. (“Prudential”).

3. Other Transactions with Affiliates

Prudential Mutual Fund Services LLC (“PMFS”), an affiliated of PGIM Investments and an indirect, wholly-owned subsidiary of Prudential, serves as the Fund’s transfer agent. Transfer agent’s fees and expenses in the Statement of Operations include certain out-of-pocket expenses paid to non-affiliates, where applicable.

The Fund may enter into certain securities purchase or sale transactions under Board approved Rule 17a-7 procedures. Rule 17a-7 is an exemptive rule under the 1940 Act, that permits purchase and sale transactions among affiliated investment companies, or between an investment company and a person that is affiliated solely by reason of having a common (or affiliated) investment adviser, common directors, and/or common officers. Such transactions are subject to ratification by the Board. For the reporting period ended April 30, 2018 no such transactions were entered into by the Fund.

56

The Fund may invest its overnight sweep cash in the PGIM Core Ultra Short Bond Fund (the “Core Fund”), a series of Prudential Investment Portfolios 2, registered under the 1940 Act and managed by PGIM Investments. Earnings from the Core Fund are disclosed on the Statement of Operations as “Affiliated dividend income”.

4. Portfolio Securities

The aggregate cost of purchases and proceeds from sales of portfolio securities (excluding short-term investments and U.S. Government securities) for the period ended April 30, 2018, were $37,388,831 and $13,207,448, respectively.

A summary of the cost of purchases and proceeds from sales of shares of affiliated mutual funds for the period ended April 30, 2018, is presented as follows:

Affiliated Mutual Fund*	Value, Beginning of Period		Cost of Purchases		Proceeds from Sales		Change in Unrealized Gain (Loss)		Realized Gain (Loss)		Value, End of Period		Shares, End of Period		Dividend Income
PGIM Core Ultra Short Bond Fund	$	—	$	30,299,322	$	29,111,841	$	—	$	—	$	1,187,481		1,187,481	$	16,101

* The Fund did not have any capital gain distributions during the reporting period.

5. Tax Information

The United States federal income tax basis of the Fund’s investments and the net unrealized appreciation as of April 30, 2018 were as follows:

Tax Basis	$	25,506,617
Gross Unrealized Appreciation		202,837
Gross Unrealized Depreciation		(158,960	)
Net Unrealized Appreciation	$	43,877

Management has analyzed the Fund’s tax positions taken and has concluded that no provision for income tax is required in the Fund’s financial statements for the current reporting period. The Fund’s federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

6. Capital and Ownership

The Fund offers Class A, Class C, Class Z and Class R6 shares. Class A shares are sold with a maximum front-end sales charge of 4.50%. Investors who purchase $1 million or more of Class A shares and sell these shares within 12 months of purchase are subject to a contingent deferred sales charge (“CDSC”) of 1%, although they are not subject to an initial

PGIM Global Total Return (USD Hedged) Fund 57

Notes to Financial Statements (unaudited) (continued)

sales charge. The Class A CDSC is waived for certain retirement and/or benefit plans. A special exchange privilege is also available for shareholders who qualified to purchase Class A shares at net asset value. Class C shares are sold with a CDSC of 1% on sales made within 12 months of purchase. Class Z and Class R6 shares are not subject to any sales or redemption charge and are offered exclusively for sale to a limited group of investors.

Under certain circumstances, an exchange may be made from specified share classes of the Fund to one or more other share classes of the Fund as presented in the table of transactions in shares of common stock.

There are 1.5 billion shares of common stock, at $0.01 par value per share, authorized and divided into four classes, designated Class A, Class C, Class Z and Class R6, each of which consists of 200 million, 300 million, 600 million and 400 million authorized shares, respectively.

As of April 30, 2018, Prudential, through its affiliate entities, owned 1,011 Class A shares, 1,008 Class C shares, 1,012 Class Z shares and 2,530,454 Class R6 shares of the Fund. At reporting period end, one shareholders of record held 99% of the Fund’s outstanding shares.

Transactions in shares of common stock were as follows:

Class A	Shares		Amount
Period* ended April 30, 2018:
Shares sold		4,441	$	44,312
Shares issued in reinvestment of dividends and distributions		47		459
Net increase (decrease) in shares outstanding		4,488	$	44,771
Class C
Period* ended April 30, 2018:
Shares sold		1,000	$	10,000
Shares issued in reinvestment of dividends and distributions		8		77
Net increase (decrease) in shares outstanding		1,008	$	10,077
Class Z
Period* ended April 30, 2018:
Shares sold		16,842	$	168,445
Shares issued in reinvestment of dividends and distributions		185		1,827
Net increase (decrease) in shares outstanding		17,027	$	170,272
Class R6
Period* ended April 30, 2018:
Shares sold		2,501,000	$	25,009,995
Shares issued in reinvestment of dividends and distributions		29,454		290,355
Net increase (decrease) in shares outstanding		2,530,454	$	25,300,350

* Commencement of operations was December 12, 2017.

58

7. Borrowings

The Fund, along with other affiliated registered investment companies (the “Funds”), is a party to a Syndicated Credit Agreement (“SCA”) with a group of banks. The purpose of the SCA is to provide an alternative source of temporary funding for capital share redemptions. The SCA provides for a commitment of $900 million for the period October 5, 2017 through October 4, 2018. The Funds pay an annualized commitment fee of 0.15% of the unused portion of the SCA. The Fund’s portion of the commitment fee for the unused amount, allocated based upon a method approved by the Board, is accrued daily and paid quarterly. The interest on borrowings under the SCAs is paid monthly and at a per annum interest rate based upon a contractual spread plus the higher of (1) the effective federal funds rate, (2) the 1-month LIBOR rate or (3) zero percent.

Other affiliated registered investment companies that are parties to the SCA include portfolios that are subject to a predetermined mathematical formula used to manage certain benefit guarantees offered under variable annuity contracts. The formula may result in large scale asset flows into and out of these portfolios. Consequently, these portfolios may be more likely to utilize the SCA for purposes of funding redemptions. It may be possible for those portfolios to fully exhaust the committed amount of the SCA, thereby requiring the Manager to allocate available funding per a Board-approved methodology designed to treat the Funds in the SCA equitably.

The Fund did not utilize the SCA during the reporting period ended April 30, 2018.

PGIM Global Total Return (USD Hedged) Fund 59

Financial Highlights

Class A Shares
	December 12, 2017(a) through April 30, 2018
Per Share Operating Performance(b):
Net Asset Value, Beginning of Period		$10.00
Income (loss) from investment operations:
Net investment income (loss)		0.06
Net realized and unrealized gain (loss) on investment transactions		(0.14	)
Total from investment operations		(0.08	)
Less Dividends and Distributions
Dividends from investment income		(0.11	)
Net asset value, end of period		$9.81
Total Return(c):		(0.85)%
Ratios/Supplemental Data:
Net assets, end of period (000)		$44
Average net assets (000)		$42
Ratios to average net assets(d):
Expenses after waivers and/or expense reimbursement		0.88%	(e)
Expenses before waivers and/or expense reimbursement		51.96%	(e)
Net investment income (loss)		1.61%	(e)
Portfolio turnover rate(g)		56%	(f)

(a) Commencement of operations.

(b) Calculated based on average shares outstanding during the period.

(c) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(d) Does not include expenses of the underlying funds in which the Fund invests.

(e) Annualized.

(f) Not annualized.

(g) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

See Notes to Financial Statements.

60

Class C Shares
	December 12, 2017(a) through April 30, 2018
Per Share Operating Performance(b):
Net Asset Value, Beginning of Period		$10.00
Income (loss) from investment operations:
Net investment income (loss)		0.03
Net realized and unrealized gain (loss) on investment transactions		(0.14	)
Total from investment operations		(0.11	)
Less Dividends and Distributions
Dividends from investment income		(0.08	)
Net asset value, end of period		$9.81
Total Return(c):		(1.14)%
Ratios/Supplemental Data:
Net assets, end of period (000)		$10
Average net assets (000)		$10
Ratios to average net assets(d):
Expenses after waivers and/or expense reimbursement		1.63%	(e)
Expenses before waivers and/or expense reimbursement		214.90%	(e)
Net investment income (loss)		0.82%	(e)
Portfolio turnover rate(g)		56%	(f)

(a) Commencement of operations.

(b) Calculated based on average shares outstanding during the period.

(c) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(d) Does not include expenses of the underlying funds in which the Fund invests.

(e) Annualized.

(f) Not annualized.

(g) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 61

Financial Highlights (continued)

Class Z Shares
	December 12, 2017(a) through April 30, 2018
Per Share Operating Performance(b):
Net Asset Value, Beginning of Period		$10.00
Income (loss) from investment operations:
Net investment income (loss)		0.07
Net realized and unrealized gain (loss) on investment transactions		(0.15	)
Total from investment operations		(0.08	)
Less Dividends and Distributions
Dividends from investment income		(0.11	)
Net asset value, end of period		$9.81
Total Return(c):		(0.76)%
Ratios/Supplemental Data:
Net assets, end of period (000)		$167
Average net assets (000)		$153
Ratios to average net assets(d):
Expenses after waivers and/or expense reimbursement		0.63%	(e)
Expenses before waivers and/or expense reimbursement		15.15%	(e)
Net investment income (loss)		1.89%	(e)
Portfolio turnover rate(g)		56%	(f)

(a) Commencement of operations.

(b) Calculated based on average shares outstanding during the period.

(c) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(d) Does not include expenses of the underlying funds in which the Fund invests.

(e) Annualized.

(f) Not annualized.

(g) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

See Notes to Financial Statements.

62

Class R6 Shares
	December 12, 2017(a) through April 30, 2018
Per Share Operating Performance(b):
Net Asset Value, Beginning of Period		$10.00
Income (loss) from investment operations:
Net investment income (loss)		0.07
Net realized and unrealized gain (loss) on investment transactions		(0.14	)
Total from investment operations		(0.07	)
Less Dividends and Distributions
Total dividends and distributions		(0.12	)
Net asset value, end of period		$9.81
Total Return(c):		(0.74)%
Ratios/Supplemental Data:
Net assets, end of period (000)		$24,815
Average net assets (000)		$24,625
Ratios to average net assets(d):
Expenses after waivers and/or expense reimbursement		0.58%	(e)
Expenses before waivers and/or expense reimbursement		1.45%	(e)
Net investment income (loss)		1.89%	(e)
Portfolio turnover rate(g)		56%	(f)

(a) Commencement of operations.

(b) Calculated based on average shares outstanding during the period.

(c) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.

(d) Does not include expenses of the underlying funds in which the Fund invests.

(e) Annualized.

(f) Not annualized.

(g) The Fund’s portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short term investments and certain derivatives. If such transactions were included, the Fund’s portfolio turnover rate may be higher.

See Notes to Financial Statements.

PGIM Global Total Return (USD Hedged) Fund 63

∎ MAIL	∎ TELEPHONE	∎ WEBSITE
655 Broad Street Newark, NJ 07102	(800) 225-1852	www.pgiminvestments.com

PROXY VOTING

The Board of Directors of the Fund has delegated to the Fund’s investment subadviser the responsibility for voting any proxies and maintaining proxy recordkeeping with respect to the Fund. A description of these proxy voting policies and procedures is available without charge, upon request, by calling (800) 225-1852. Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Fund’s website and on the Securities and Exchange Commission’s website.

DIRECTORS

Ellen S. Alberding • Kevin J. Bannon • Scott E. Benjamin • Linda W. Bynoe • Barry H. Evans • Keith F. Hartstein • Laurie Simon Hodrick • Michael S. Hyland • Stuart S. Parker • Richard A. Redeker • Brian K. Reid • Grace C. Torres

OFFICERS

Stuart S. Parker, President • Scott E. Benjamin, Vice President • M. Sadiq Peshimam, Treasurer and Principal Financial and Accounting Officer • Raymond A. O’Hara, Chief Legal Officer • Deborah A. Docs, Secretary • Chad A. Earnst, Chief Compliance Officer • Dino Capasso, Vice President and Deputy Chief Compliance Officer • Charles H. Smith, Anti-Money Laundering Compliance Officer • Jonathan D. Shain, Assistant Secretary • Claudia DiGiacomo, Assistant Secretary • Andrew R. French, Assistant Secretary • Peter Parrella, Assistant Treasurer • Lana Lomuti, Assistant Treasurer • Linda McMullin, Assistant Treasurer • Kelly A. Coyne, Assistant Treasurer

MANAGER	PGIM Investments LLC	655 Broad Street Newark, NJ 07102
INVESTMENT SUBADVISER	PGIM Fixed Income	655 Broad Street Newark, NJ 07102
DISTRIBUTOR	Prudential Investment Management Services LLC	655 Broad Street Newark, NJ 07102
CUSTODIAN	The Bank of New York Mellon	225 Liberty Street New York, NY 10286
TRANSFER AGENT	Prudential Mutual Fund Services LLC	PO Box 9658 Providence, RI 02940
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	KPMG LLP	345 Park Avenue New York, NY 10154
FUND COUNSEL	Willkie Farr & Gallagher LLP	787 Seventh Avenue New York, NY 10019

An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and other information about the Fund. An investor may obtain a prospectus and summary prospectus by visiting our website at www.pgiminvestments.com or by calling (800) 225-1852. The prospectus and summary prospectus should be read carefully before investing.

E-DELIVERY

To receive your mutual fund documents online, go to www.pgiminvestments.com/edelivery and enroll. Instead of receiving printed documents by mail, you will receive notification via email when new materials are available. You can cancel your enrollment or change your email address at any time by visiting the website address above.

SHAREHOLDER COMMUNICATIONS WITH DIRECTORS

Shareholders can communicate directly with the Board of Directors by writing to the Chair of the Board, PGIM Global Total Return (USD Hedged) Fund, PGIM Investments, Attn: Board of Directors, 655 Broad Street, Newark, NJ 07102. Shareholders can communicate directly with an individual Director by writing to the same address. Communications are not screened before being delivered to the addressee.

AVAILABILITY OF PORTFOLIO SCHEDULE

The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the Commission’s website at www.sec.gov. The Fund’s Forms N-Q may also be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information on the operation and location of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The Fund’s schedule of portfolio holdings is also available on the Fund’s website as of the end of each month no sooner than 15 days after the end of the month.

Mutual Funds:

ARE NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY MAY LOSE VALUE ARE NOT A DEPOSIT OF OR GUARANTEED BY ANY BANK OR ANY BANK AFFILIATE

PGIM GLOBAL TOTAL RETURN (USD HEDGED) FUND

SHARE CLASS	A	C	Z	R6*
NASDAQ	PHEAX	PHECX	PHEZX	PHEQX
CUSIP	74439A707	74439A806	74439A871	74439A889

*Formerly known as Class Q shares.

MF238E2    

Item 2 – Code of Ethics – Not required, as this is not an annual filing.

Item 3 – Audit Committee Financial Expert – Not required, as this is not an annual filing.

Item 4 – Principal Accountant Fees and Services – Not required, as this is not an annual filing.

Item 5 – Audit Committee of Listed Registrants – Not applicable.

Item 6 –  Schedule of Investments – The schedule is included as part of the report to shareholders filed under Item 1 of this  Form.

Item 7 –  Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not  applicable.

Item 8 –  Portfolio Managers of Closed-End Management Investment Companies – Not applicable.

Item 9 –  Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not  applicable.

Item 10 – Submission of Matters to a Vote of Security Holders – Not applicable.

Item 11 – Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There has been no significant change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter of the period covered by this report that has materially affected, or is likely to materially affect, the registrant’s internal control over financial reporting.

Item 12 – Exhibits

(a)  (1)   Code of Ethics – Not required, as this is not an annual filing.

      (2)   Certifications pursuant to Section 302 of the Sarbanes-Oxley Act – Attached hereto as Exhibit EX-99.CERT.

      (3)   Any written solicitation to purchase securities under Rule 23c-1. – Not applicable.

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act – Attached hereto as Exhibit EX-99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:	Prudential Global Total Return Fund, Inc.
By:	/s/ Deborah A. Docs
	Deborah A. Docs
	Secretary
Date:	June 18, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Stuart S. Parker
	Stuart S. Parker
	President and Principal Executive Officer
Date:	June 18, 2018
By:	/s/ M. Sadiq Peshimam
	M. Sadiq Peshimam
	Treasurer and Principal Financial and Accounting Officer
Date:	June 18, 2018