PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 96.1% | |||||
Asset-Backed Securities 15.4% | |||||
Cayman Islands 11.4% | |||||
AIG CLO Ltd., Series 2019-02A, Class AR, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 1.100%) | 1.358 %(c) | 10/25/33 | 500 | $500,020 | |
Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL01, Class A, 144A, 30 Day Average SOFR + 1.450% (Cap N/A, Floor 1.450%) | 1.500(c) | 01/15/37 | 200 | 200,001 | |
Bain Capital Credit CLO Ltd., Series 2018-01A, Class A1, 144A, 3 Month LIBOR + 0.960% (Cap N/A, Floor 0.000%) | 1.219(c) | 04/23/31 | 250 | 250,174 | |
Broad River BSL Funding CLO Ltd., Series 2020-01A, Class AR, 144A, 3 Month LIBOR + 1.170% (Cap N/A, Floor 1.170%) | 1.424(c) | 07/20/34 | 750 | 749,994 | |
Brookside Mill CLO Ltd., Series 2013-01A, Class BR, 144A, 3 Month LIBOR + 1.350% (Cap N/A, Floor 0.000%) | 1.591(c) | 01/17/28 | 250 | 250,129 | |
Carlyle CLO Ltd., Series C17A, Class A1AR, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 0.000%) | 1.329(c) | 04/30/31 | 250 | 249,842 | |
Carlyle Global Market Strategies CLO Ltd., Series 2014-01A, Class A1R2, 144A, 3 Month LIBOR + 0.970% (Cap N/A, Floor 0.970%) | 1.211(c) | 04/17/31 | 249 | 249,041 | |
Greenwood Park CLO Ltd., Series 2018-01A, Class A2, 144A, 3 Month LIBOR + 1.010% (Cap N/A, Floor 0.000%) | 1.251(c) | 04/15/31 | 250 | 249,864 | |
Greywolf CLO Ltd., Series 2018-01A, Class A1, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 0.000%) | 1.297(c) | 04/26/31 | 750 | 748,743 | |
HPS Loan Management Ltd., Series 15A-19, Class A1, 144A, 3 Month LIBOR + 1.320% (Cap N/A, Floor 1.320%) | 1.579(c) | 07/22/32 | 250 | 250,000 | |
Jamestown CLO Ltd., Series 2019-14A, Class A1AR, 144A, 3 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%) | 1.454(c) | 10/20/34 | 250 | 250,046 | |
Madison Park Funding Ltd., Series 2019-33A, Class AR, 144A | —(p) | 10/15/32 | 750 | 750,000 | |
MidOcean Credit CLO, Series 2018-08A, Class B, 144A, 3 Month LIBOR + 1.650% (Cap N/A, Floor 0.000%) | 1.810(c) | 02/20/31 | 250 | 249,890 | |
Octagon Investment Partners 45 Ltd., Series 2019-01A, Class A, 144A, 3 Month LIBOR + 1.330% (Cap N/A, Floor 1.330%) | 1.571(c) | 10/15/32 | 500 | 500,250 |
1
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Asset-Backed Securities (Continued) | |||||
Cayman Islands (cont’d.) | |||||
OZLM Ltd., Series 2014-06A, Class A2AS, 144A, 3 Month LIBOR + 1.750% (Cap N/A, Floor 0.000%) | 1.991 %(c) | 04/17/31 | 250 | $250,024 | |
Palmer Square CLO Ltd., Series 2015-01A, Class A1A4, 144A, 3 Month LIBOR + 1.130% (Cap N/A, Floor 1.130%) | 1.290(c) | 05/21/34 | 750 | 750,277 | |
TCW CLO Ltd., | |||||
Series 2017-01A, Class A1RR, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%) | 1.316(c) | 10/29/34 | 250 | 250,001 | |
Series 2020-01A, Class A1RR, 144A, 3 Month LIBOR + 1.160% (Cap N/A, Floor 1.160%) | 1.334(c) | 04/20/34 | 750 | 749,608 | |
Telos CLO Ltd., Series 2013-04A, Class AR, 144A, 3 Month LIBOR + 1.240% (Cap N/A, Floor 0.000%) | 1.481(c) | 01/17/30 | 248 | 247,563 | |
Trimaran Cavu Ltd., Series 2021-01A, Class A, 144A, 3 Month LIBOR + 1.210% (Cap N/A, Floor 1.210%) | 1.469(c) | 04/23/32 | 500 | 500,000 | |
Tryon Park CLO Ltd., Series 2013-01A, Class A2R, 144A, 3 Month LIBOR + 1.500% (Cap N/A, Floor 0.000%) | 1.741(c) | 04/15/29 | 250 | 249,690 | |
Voya CLO Ltd., Series 2013-02A, Class A1R, 144A, 3 Month LIBOR + 0.970% (Cap N/A, Floor 0.970%) | 1.228(c) | 04/25/31 | 250 | 249,795 | |
Wind River CLO Ltd., Series 2016-01KRA, Class A1R2, 144A, 3 Month LIBOR + 1.210% (Cap N/A, Floor 1.210%) | 1.451(c) | 10/15/34 | 250 | 250,000 | |
8,944,952 | |||||
Ireland 2.2% | |||||
Ares European CLO DAC, Series 11A, Class B2R, 144A | 1.950 | 04/15/32 | EUR | 500 | 562,096 |
Armada Euro CLO DAC, Series 02A, Class A3, 144A | 1.500 | 11/15/31 | EUR | 250 | 280,872 |
Carlyle Euro CLO DAC, Series 2021-02A, Class A1, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%) | 0.990(c) | 10/15/35 | EUR | 300 | 336,966 |
Carlyle Global Market Strategies Euro CLO Ltd., Series 2014-02A, Class AR1, 144A, 3 Month EURIBOR + 0.750% (Cap N/A, Floor 0.750%) | 0.750(c) | 11/15/31 | EUR | 500 | 559,319 |
1,739,253 |
2
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Asset-Backed Securities (Continued) | |||||
Spain 0.1% | |||||
TFS, Series 2018-03, Class A1, 1 Month EURIBOR + 3.000% | 3.000 %(c) | 04/16/23 | EUR | 99 | $99,961 |
United States 1.7% | |||||
Battalion CLO Ltd., Series 2018-12A, Class A1, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%) | 1.228(c) | 05/17/31 | 250 | 249,860 | |
Credit Suisse Mortgage Trust, Series 2020-11R, Class 1A1, 144A, 1 Month LIBOR + 2.150% | 2.258(c) | 04/25/38 | 40 | 40,229 | |
Exeter Automobile Receivables Trust, Series 2021-03A, Class D | 1.550 | 06/15/27 | 100 | 97,496 | |
Lendmark Funding Trust, | |||||
Series 2019-01A, Class A, 144A | 3.000 | 12/20/27 | 100 | 100,740 | |
Series 2019-02A, Class A, 144A | 2.780 | 04/20/28 | 200 | 202,142 | |
Mariner Finance Issuance Trust, Series 2020-AA, Class A, 144A | 2.190 | 08/21/34 | 100 | 100,164 | |
OneMain Direct Auto Receivables Trust, | |||||
Series 2019-01A, Class A, 144A | 3.630 | 09/14/27 | 100 | 104,616 | |
Series 2019-01A, Class D, 144A | 4.680 | 04/14/31 | 100 | 106,318 | |
Oportun Funding XIV LLC, | |||||
Series 2021-A, Class B, 144A | 1.760 | 03/08/28 | 100 | 99,181 | |
Series 2021-A, Class C, 144A | 3.440 | 03/08/28 | 100 | 100,649 | |
TH MSR Issuer Trust, Series 2019-FT01, Class A, 144A, 1 Month LIBOR + 2.800% (Cap N/A, Floor 2.800%) | 2.908(c) | 06/25/24 | 120 | 119,790 | |
1,321,185 | |||||
Total Asset-Backed Securities (cost $12,153,286) | 12,105,351 | ||||
Bank Loan 0.0% | |||||
United States | |||||
Diamond Sports Group LLC, Term Loan, 1 Month LIBOR + 3.250% (cost $36,682) | 3.360(c) | 08/24/26 | 50 | 20,043 |
3
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Commercial Mortgage-Backed Securities 7.4% | |||||
Canada 0.0% | |||||
Real Estate Asset Liquidity Trust, Series 2020-01A, Class A1, 144A | 2.381 %(cc) | 02/12/55 | CAD | 23 | $17,936 |
Ireland 1.4% | |||||
Deco DAC, Series 2019-RAM, Class B, 3 Month GBP LIBOR + 3.500% (Cap N/A, Floor 3.500%) | 3.609(c) | 08/07/30 | GBP | 478 | 557,627 |
Last Mile Logistics Pan Euro Finance DAC, Series 01A, Class D, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 1.900(c) | 08/17/33 | EUR | 99 | 108,914 |
Taurus DAC, | |||||
Series 2021-UK4A, Class B, 144A, SONIA + 1.500% (Cap N/A, Floor 0.000%) | 1.550(c) | 08/17/31 | GBP | 99 | 132,572 |
Series 2021-UK4A, Class C, 144A, SONIA + 1.750% (Cap N/A, Floor 0.000%) | 1.800(c) | 08/17/31 | GBP | 99 | 132,564 |
Series 2021-UK4A, Class D, 144A, SONIA + 2.100% (Cap N/A, Floor 0.000%) | 2.150(c) | 08/17/31 | GBP | 99 | 132,595 |
1,064,272 | |||||
United States 6.0% | |||||
BANK, | |||||
Series 2018-BN10, Class A4 | 3.428 | 02/15/61 | 250 | 261,001 | |
Series 2020-BN26, Class A3 | 2.155 | 03/15/63 | 200 | 195,143 | |
BBCMS Mortgage Trust, Series 2018-CHRS, Class C, 144A | 4.267(cc) | 08/05/38 | 380 | 385,581 | |
Benchmark Mortgage Trust, | |||||
Series 2018-B01, Class A3 | 3.355 | 01/15/51 | 175 | 180,499 | |
Series 2018-B02, Class A3 | 3.544 | 02/15/51 | 200 | 207,798 | |
Series 2020-B17, Class A4 | 2.042 | 03/15/53 | 75 | 72,426 | |
Series 2020-B20, Class A3 | 1.945 | 10/15/53 | 100 | 97,400 | |
BX Commercial Mortgage Trust, | |||||
Series 2019-XL, Class F, 144A, 1 Month LIBOR + 2.000% (Cap N/A, Floor 2.000%) | 2.106(c) | 10/15/36 | 85 | 84,472 | |
Series 2019-XL, Class G, 144A, 1 Month LIBOR + 2.300% (Cap N/A, Floor 2.300%) | 2.406(c) | 10/15/36 | 85 | 83,934 | |
Series 2019-XL, Class J, 144A, 1 Month LIBOR + 2.650% (Cap N/A, Floor 2.650%) | 2.756(c) | 10/15/36 | 85 | 83,721 | |
Series 2020-BXLP, Class F, 144A, 1 Month LIBOR + 2.000% (Cap N/A, Floor 2.000%) | 2.106(c) | 12/15/36 | 82 | 81,596 | |
4
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Commercial Mortgage-Backed Securities (Continued) | |||||
United States (cont’d.) | |||||
BX Trust, Series 2022-LBA06, Class E, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 2.700%) | 2.758 %(c) | 01/15/39 | 350 | $350,000 | |
Citigroup Commercial Mortgage Trust, Series 2018-B02, Class A3 | 3.744 | 03/10/51 | 150 | 158,325 | |
Cold Storage Trust, Series 2020-ICE05, Class E, 144A, 1 Month LIBOR + 2.766% (Cap N/A, Floor 2.833%) | 2.872(c) | 11/15/37 | 98 | 98,112 | |
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE04, Class E, 144A, 1 Month LIBOR + 2.150% (Cap N/A, Floor 2.150%) | 2.256(c) | 05/15/36 | 200 | 199,811 | |
FHLMC Multifamily Structured Pass-Through Certificates, | |||||
Series K052, Class X1, IO | 0.645(cc) | 11/25/25 | 4,393 | 93,841 | |
Series K111, Class X1, IO | 1.572(cc) | 05/25/30 | 319 | 35,602 | |
Series K113, Class X1, IO | 1.387(cc) | 06/25/30 | 920 | 91,288 | |
Series KG03, Class X1, IO | 1.381(cc) | 06/25/30 | 1,055 | 102,415 | |
GS Mortgage Securities Trust, Series 2018-GS09, Class A3 | 3.727 | 03/10/51 | 125 | 132,797 | |
JPMorgan Chase Commercial Mortgage Securities Trust, | |||||
Series 2021-NYAH, Class G, 144A, 1 Month LIBOR + 2.640% (Cap N/A, Floor 2.640%) | 2.746(c) | 06/15/38 | 150 | 147,744 | |
Series 2021-NYAH, Class H, 144A, 1 Month LIBOR + 3.390% (Cap N/A, Floor 3.390%) | 3.496(c) | 06/15/38 | 100 | 99,528 | |
MKT Mortgage Trust, Series 2020-525M, Class F, 144A | 2.941(cc) | 02/12/40 | 100 | 89,601 | |
One New York Plaza Trust, | |||||
Series 2020-01NYP, Class C, 144A, 1 Month LIBOR + 2.200% (Cap N/A, Floor 2.200%) | 2.306(c) | 01/15/36 | 100 | 99,940 | |
Series 2020-01NYP, Class D, 144A, 1 Month LIBOR + 2.750% (Cap N/A, Floor 2.750%) | 2.856(c) | 01/15/36 | 100 | 99,940 | |
UBS Commercial Mortgage Trust, Series 2018-C08, Class A3 | 3.720 | 02/15/51 | 250 | 267,492 | |
Wells Fargo Commercial Mortgage Trust, | |||||
Series 2016-LC24, Class A3 | 2.684 | 10/15/49 | 250 | 252,361 | |
Series 2021-C59, Class A3 | 1.958 | 04/15/54 | 600 | 581,451 | |
Series 2021-FCMT, Class C, 144A, 1 Month LIBOR + 2.400% (Cap N/A, Floor 2.400%) | 2.506(c) | 05/15/31 | 100 | 99,880 | |
4,733,699 | |||||
Total Commercial Mortgage-Backed Securities (cost $5,825,983) | 5,815,907 |
5
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds 38.6% | |||||
Belgium 0.2% | |||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., Gtd. Notes | 4.900 % | 02/01/46 | 140 | $166,233 | |
Brazil 0.4% | |||||
Petrobras Global Finance BV, Gtd. Notes | 6.625 | 01/16/34 | GBP | 200 | 290,805 |
Bulgaria 0.3% | |||||
Bulgarian Energy Holding EAD, Sr. Unsec’d. Notes | 2.450 | 07/22/28 | EUR | 200 | 219,486 |
Canada 1.2% | |||||
Bombardier, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 7.125 | 06/15/26 | 25 | 25,407 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 12/01/24 | 25 | 25,877 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 03/15/25 | 25 | 25,307 | |
Sr. Unsec’d. Notes, 144A | 7.875 | 04/15/27 | 80 | 81,040 | |
Brookfield Residential Properties, Inc./Brookfield Residential US LLC, Gtd. Notes, 144A | 4.875 | 02/15/30 | 35 | 33,948 | |
Cenovus Energy, Inc., | |||||
Sr. Unsec’d. Notes | 2.650 | 01/15/32 | 15 | 14,244 | |
Sr. Unsec’d. Notes | 3.750 | 02/15/52 | 10 | 9,604 | |
Hydro-Quebec, Local Gov’t. Gtd. Notes, Series HK | 9.375 | 04/15/30 | 150 | 227,470 | |
Mattamy Group Corp., Sr. Unsec’d. Notes, 144A | 4.625 | 03/01/30 | 125 | 123,264 | |
Ontario Teachers’ Cadillac Fairview Properties Trust, Sr. Unsec’d. Notes, 144A | 3.875 | 03/20/27 | 300 | 321,317 | |
Teck Resources Ltd., Sr. Unsec’d. Notes | 5.400 | 02/01/43 | 60 | 69,333 | |
956,811 | |||||
China 1.6% | |||||
Agricultural Development Bank of China, Sr. Unsec’d. Notes | 3.800 | 10/27/30 | CNH | 1,000 | 165,281 |
Aircraft Finance Co. Ltd., Sr. Sec’d. Notes, Series B | 4.100 | 03/29/26 | 92 | 94,149 |
6
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
China (cont’d.) | |||||
China Development Bank, | |||||
Sr. Unsec’d. Notes | 4.300 % | 08/02/32 | CNH | 5,000 | $850,211 |
Unsec’d. Notes | 4.200 | 01/19/27 | CNH | 1,000 | 166,657 |
1,276,298 | |||||
Denmark 0.6% | |||||
Danske Bank A/S, | |||||
Sr. Unsec’d. Notes, 144A | 1.171(ff) | 12/08/23 | 300 | 298,951 | |
Sub. Notes, EMTN | 2.500(ff) | 06/21/29 | EUR | 150 | 174,834 |
473,785 | |||||
France 3.1% | |||||
Banque Federative du Credit Mutuel SA, Sr. Unsec’d. Notes, 144A | 1.604 | 10/04/26 | 200 | 194,090 | |
BNP Paribas SA, | |||||
Sr. Unsec’d. Notes, 144A | 2.591(ff) | 01/20/28 | 200 | 198,508 | |
Sr. Unsec’d. Notes, 144A | 2.871(ff) | 04/19/32 | 400 | 389,220 | |
BPCE SA, Sr. Unsec’d. Notes, 144A | 2.045(ff) | 10/19/27 | 250 | 242,377 | |
Credit Agricole Assurances SA, Sub. Notes | 4.250(ff) | 01/13/25(oo) | EUR | 100 | 121,204 |
Iliad Holding SASU, Sr. Sec’d. Notes, 144A | 5.125 | 10/15/26 | EUR | 100 | 114,463 |
La Poste SA, Sr. Unsec’d. Notes, EMTN | 1.375 | 04/21/32 | EUR | 100 | 117,581 |
Regie Autonome des Transports Parisiens, Sr. Unsec’d. Notes, EMTN | 0.400 | 12/19/36 | EUR | 100 | 111,529 |
SNCF Reseau, Sr. Unsec’d. Notes | 4.700 | 06/01/35 | CAD | 100 | 92,847 |
Societe Generale SA, | |||||
Sr. Unsec’d. Notes, 144A | 1.488(ff) | 12/14/26 | 200 | 190,645 | |
Sr. Unsec’d. Notes, 144A, MTN | 1.792(ff) | 06/09/27 | 200 | 191,109 | |
Sr. Unsec’d. Notes, 144A, MTN | 2.625 | 01/22/25 | 255 | 256,752 | |
Verallia SA, Gtd. Notes | 1.625 | 05/14/28 | EUR | 200 | 222,204 |
2,442,529 | |||||
Germany 1.2% | |||||
Deutsche Bahn Finance GMBH, Gtd. Notes, MTN | 3.800 | 09/27/27 | AUD | 100 | 75,328 |
7
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Germany (cont’d.) | |||||
Deutsche Bank AG, | |||||
Sr. Unsec’d. Notes | 0.898 % | 05/28/24 | 265 | $259,746 | |
Sr. Unsec’d. Notes | 1.447(ff) | 04/01/25 | 210 | 206,529 | |
Sr. Unsec’d. Notes | 2.552(ff) | 01/07/28 | 150 | 146,952 | |
Volkswagen International Finance NV, | |||||
Gtd. Notes | 2.700(ff) | 12/14/22(oo) | EUR | 100 | 114,249 |
Gtd. Notes | 4.625(ff) | 03/24/26(oo) | EUR | 100 | 122,316 |
925,120 | |||||
Hong Kong 0.8% | |||||
Airport Authority, Sr. Unsec’d. Notes, 144A | 2.500 | 01/12/32 | 245 | 244,210 | |
HKT Capital No. 3 Ltd., Gtd. Notes | 1.650 | 04/10/27 | EUR | 200 | 232,682 |
Sun Hung Kai Properties Capital Market Ltd., Gtd. Notes, EMTN | 3.200 | 08/14/27 | CNH | 1,000 | 155,580 |
632,472 | |||||
Hungary 0.2% | |||||
MFB Magyar Fejlesztesi Bank Zrt, Gov’t. Gtd. Notes | 0.375 | 06/09/26 | EUR | 100 | 110,797 |
India 0.3% | |||||
NTPC Ltd., Sr. Unsec’d. Notes, EMTN | 2.750 | 02/01/27 | EUR | 100 | 116,978 |
Power Finance Corp. Ltd., Sr. Unsec’d. Notes, GMTN | 1.841 | 09/21/28 | EUR | 100 | 110,978 |
227,956 | |||||
Indonesia 0.1% | |||||
Perusahaan Listrik Negara PT, Sr. Unsec’d. Notes, 144A | 1.875 | 11/05/31 | EUR | 100 | 103,768 |
Israel 0.1% | |||||
Energean Israel Finance Ltd., Sr. Sec’d. Notes, 144A | 4.500 | 03/30/24 | 100 | 100,201 |
8
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Italy 0.7% | |||||
Assicurazioni Generali SpA, Sub. Notes, EMTN | 5.500 %(ff) | 10/27/47 | EUR | 100 | $132,593 |
Intesa Sanpaolo SpA, Sr. Unsec’d. Notes, 144A | 3.375 | 01/12/23 | 200 | 203,415 | |
Nexi SpA, Sr. Unsec’d. Notes | 2.125 | 04/30/29 | EUR | 100 | 107,204 |
Rossini Sarl, Sr. Sec’d. Notes, 144A | 6.750 | 10/30/25 | EUR | 100 | 116,022 |
559,234 | |||||
Jamaica 0.1% | |||||
Digicel International Finance Ltd./Digicel International Holdings Ltd., Gtd. Notes, 144A | 8.000 | 12/31/26 | 100 | 97,938 | |
Japan 0.5% | |||||
Mitsubishi UFJ Financial Group, Inc., Sr. Unsec’d. Notes | 1.640(ff) | 10/13/27 | 210 | 202,588 | |
Nomura Holdings, Inc., Sr. Unsec’d. Notes | 2.999 | 01/22/32 | 200 | 196,803 | |
399,391 | |||||
Kazakhstan 0.2% | |||||
Kazakhstan Temir Zholy National Co. JSC, | |||||
Gtd. Notes | 3.250 | 12/05/23 | CHF | 100 | 110,643 |
Gtd. Notes | 3.638 | 06/20/22 | CHF | 50 | 54,272 |
164,915 | |||||
Luxembourg 0.3% | |||||
ARD Finance SA, Sr. Sec’d. Notes, 144A, Cash coupon 5.000% or PIK 5.750% | 5.000 | 06/30/27 | EUR | 100 | 113,571 |
Matterhorn Telecom SA, Sr. Sec’d. Notes | 3.125 | 09/15/26 | EUR | 100 | 109,238 |
222,809 | |||||
Malta 0.2% | |||||
Freeport Terminal Malta PLC, Gov’t. Gtd. Notes, 144A | 7.250 | 05/15/28 | 100 | 127,684 |
9
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Mexico 1.1% | |||||
Comision Federal de Electricidad, Sr. Unsec’d. Notes | 5.000 % | 09/29/36 | 158 | $164,966 | |
Petroleos Mexicanos, | |||||
Gtd. Notes | 3.625 | 11/24/25 | EUR | 200 | 227,582 |
Gtd. Notes, EMTN | 3.750 | 04/16/26 | EUR | 100 | 112,064 |
Gtd. Notes, EMTN | 4.875 | 02/21/28 | EUR | 300 | 337,542 |
842,154 | |||||
Netherlands 0.8% | |||||
Cooperatieve Rabobank UA, Sr. Unsec’d. Notes, GMTN | 3.500 | 12/14/26 | AUD | 90 | 63,490 |
JDE Peet’s NV, Gtd. Notes, 144A | 1.375 | 01/15/27 | 150 | 141,855 | |
OCI NV, Sr. Sec’d. Notes | 3.625 | 10/15/25 | EUR | 225 | 259,344 |
United Group BV, Sr. Sec’d. Notes, 144A | 5.250 | 02/01/30 | EUR | 150 | 163,535 |
628,224 | |||||
Peru 0.1% | |||||
Peru Enhanced Pass-Through Finance Ltd., Pass-Through Certificates | 1.962(s) | 06/02/25 | 97 | 91,987 | |
Portugal 0.2% | |||||
CP - Comboios de Portugal EPE, Sr. Unsec’d. Notes | 5.700 | 03/05/30 | EUR | 100 | 150,975 |
Russia 0.6% | |||||
Gazprom PJSC Via Gaz Capital SA, | |||||
Sr. Unsec’d. Notes | 2.500 | 03/21/26 | EUR | 100 | 110,825 |
Sr. Unsec’d. Notes | 4.250 | 04/06/24 | GBP | 100 | 133,712 |
Russian Railways Via RZD Capital PLC, | |||||
Sr. Unsec’d. Notes | 0.898 | 10/03/25 | CHF | 50 | 50,378 |
Sr. Unsec’d. Notes | 7.487 | 03/25/31 | GBP | 100 | 167,133 |
462,048 | |||||
Spain 1.1% | |||||
Banco Santander SA, Sr. Unsec’d. Notes | 1.849 | 03/25/26 | 200 | 194,743 |
10
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Spain (cont’d.) | |||||
Cellnex Finance Co. SA, Gtd. Notes, EMTN | 2.000 % | 02/15/33 | EUR | 300 | $308,459 |
Cellnex Telecom SA, Sr. Unsec’d. Notes, EMTN | 1.750 | 10/23/30 | EUR | 100 | 105,054 |
Iberdrola International BV, Gtd. Notes, Series NC6 | 1.450(ff) | 11/09/26(oo) | EUR | 200 | 220,502 |
828,758 | |||||
Supranational Bank 0.1% | |||||
European Investment Bank, Sr. Unsec’d. Notes, 144A, EMTN | 5.400 | 01/05/45 | CAD | 50 | 55,033 |
Sweden 0.3% | |||||
Svenska Handelsbanken AB, Sr. Unsec’d. Notes, 144A | 1.418(ff) | 06/11/27 | 275 | 265,379 | |
Switzerland 0.8% | |||||
Credit Suisse Group AG, Sr. Unsec’d. Notes, 144A | 2.593(ff) | 09/11/25 | 250 | 251,373 | |
UBS Group AG, | |||||
Sr. Unsec’d. Notes, 144A | 1.364(ff) | 01/30/27 | 200 | 191,764 | |
Sr. Unsec’d. Notes, 144A | 1.494(ff) | 08/10/27 | 200 | 190,564 | |
633,701 | |||||
United Arab Emirates 0.3% | |||||
DP World PLC, | |||||
Sr. Unsec’d. Notes | 2.375 | 09/25/26 | EUR | 100 | 117,429 |
Sr. Unsec’d. Notes | 4.250 | 09/25/30 | GBP | 100 | 147,399 |
264,828 | |||||
United Kingdom 3.9% | |||||
Barclays PLC, Sr. Unsec’d. Notes | 3.932(ff) | 05/07/25 | 200 | 207,677 | |
BAT Capital Corp., Gtd. Notes | 2.259 | 03/25/28 | 80 | 75,967 | |
Bellis Acquisition Co. PLC, Sr. Sec’d. Notes, 144A | 3.250 | 02/16/26 | GBP | 200 | 248,916 |
Bellis Finco PLC, Sr. Unsec’d. Notes, 144A | 4.000 | 02/16/27 | GBP | 100 | 121,832 |
11
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United Kingdom (cont’d.) | |||||
BP Capital Markets PLC, Gtd. Notes | 4.375 %(ff) | 06/22/25(oo) | 150 | $154,864 | |
Co-operative Group Holdings 2011 Ltd., Gtd. Notes | 7.500 | 07/08/26 | GBP | 100 | 151,937 |
DS Smith PLC, Sr. Unsec’d. Notes, EMTN | 0.875 | 09/12/26 | EUR | 100 | 112,506 |
eG Global Finance PLC, | |||||
Sr. Sec’d. Notes | 6.250 | 10/30/25 | EUR | 200 | 225,516 |
Sr. Sec’d. Notes, 144A | 6.250 | 10/30/25 | EUR | 100 | 112,758 |
HSBC Holdings PLC, | |||||
Sr. Unsec’d. Notes | 2.251(ff) | 11/22/27 | 200 | 195,797 | |
Sr. Unsec’d. Notes | 2.804(ff) | 05/24/32 | 200 | 193,511 | |
Kane Bidco Ltd., Sr. Sec’d. Notes, 144A | 6.500 | 02/15/27 | GBP | 150 | 208,798 |
Santander UK Group Holdings PLC, Sr. Unsec’d. Notes | 1.673(ff) | 06/14/27 | 350 | 336,312 | |
Sherwood Financing PLC, Sr. Sec’d. Notes, 144A | 6.000 | 11/15/26 | GBP | 175 | 230,233 |
TalkTalk Telecom Group Ltd., Gtd. Notes | 3.875 | 02/20/25 | GBP | 100 | 120,979 |
Virgin Media Secured Finance PLC, Sr. Sec’d. Notes | 4.250 | 01/15/30 | GBP | 300 | 378,483 |
3,076,086 | |||||
United States 17.2% | |||||
AbbVie, Inc., | |||||
Sr. Unsec’d. Notes | 4.050 | 11/21/39 | 50 | 54,039 | |
Sr. Unsec’d. Notes | 4.250 | 11/21/49 | 50 | 55,731 | |
American Axle & Manufacturing, Inc., Gtd. Notes | 6.500 | 04/01/27 | 50 | 51,511 | |
American International Group, Inc., Sr. Unsec’d. Notes | 1.875 | 06/21/27 | EUR | 100 | 117,633 |
AmeriGas Partners LP/AmeriGas Finance Corp., Sr. Unsec’d. Notes | 5.875 | 08/20/26 | 75 | 79,300 | |
Antero Midstream Partners LP/Antero Midstream Finance Corp., Gtd. Notes, 144A | 7.875 | 05/15/26 | 25 | 26,847 | |
Antero Resources Corp., Gtd. Notes, 144A | 8.375 | 07/15/26 | 15 | 16,737 | |
Anthem, Inc., Sr. Unsec’d. Notes | 2.875 | 09/15/29 | 100 | 101,151 |
12
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United States (cont’d.) | |||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., Sr. Sec’d. Notes | 2.125 % | 08/15/26 | EUR | 250 | $267,977 |
Ascent Resources Utica Holdings LLC/ARU Finance Corp., | |||||
Gtd. Notes, 144A | 7.000 | 11/01/26 | 25 | 24,971 | |
Gtd. Notes, 144A | 9.000 | 11/01/27 | 25 | 33,194 | |
Ashton Woods USA LLC/Ashton Woods Finance Co., | |||||
Sr. Unsec’d. Notes, 144A | 4.625 | 08/01/29 | 25 | 24,683 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 04/01/30 | 25 | 24,659 | |
AT&T, Inc., | |||||
Sr. Unsec’d. Notes | 3.550 | 09/15/55 | 40 | 37,752 | |
Sr. Unsec’d. Notes | 3.650 | 09/15/59 | 69 | 65,277 | |
Sr. Unsec’d. Notes | 4.100 | 01/19/26 | AUD | 100 | 75,113 |
Avantor Funding, Inc., Sr. Sec’d. Notes | 2.625 | 11/01/25 | EUR | 250 | 283,036 |
Bank of America Corp., | |||||
Jr. Sub. Notes | 4.375(ff) | 01/27/27(oo) | 150 | 148,360 | |
Jr. Sub. Notes, Series MM | 4.300(ff) | 01/28/25(oo) | 190 | 186,919 | |
Sr. Unsec’d. Notes | 1.734(ff) | 07/22/27 | 270 | 262,018 | |
Sr. Unsec’d. Notes | 2.572(ff) | 10/20/32 | 130 | 126,033 | |
Sr. Unsec’d. Notes | 2.687(ff) | 04/22/32 | 195 | 190,876 | |
Sr. Unsec’d. Notes, MTN | 2.087(ff) | 06/14/29 | 300 | 288,472 | |
Sr. Unsec’d. Notes, MTN | 3.194(ff) | 07/23/30 | 85 | 86,898 | |
Bausch Health Americas, Inc., Gtd. Notes, 144A | 8.500 | 01/31/27 | 135 | 136,529 | |
Bausch Health Cos., Inc., | |||||
Gtd. Notes, 144A | 5.000 | 01/30/28 | 5 | 4,214 | |
Gtd. Notes, 144A | 5.250 | 01/30/30 | 25 | 20,150 | |
Gtd. Notes, 144A | 6.250 | 02/15/29 | 10 | 8,475 | |
Beazer Homes USA, Inc., | |||||
Gtd. Notes | 6.750 | 03/15/25 | 50 | 51,047 | |
Gtd. Notes | 7.250 | 10/15/29 | 20 | 21,416 | |
Bristol-Myers Squibb Co., Sr. Unsec’d. Notes | 2.350 | 11/13/40 | 10 | 8,895 | |
Brixmor Operating Partnership LP, | |||||
Sr. Unsec’d. Notes | 2.500 | 08/16/31 | 10 | 9,431 | |
Sr. Unsec’d. Notes | 4.125 | 05/15/29 | 65 | 70,008 | |
Broadcom, Inc., | |||||
Gtd. Notes, 144A | 3.500 | 02/15/41 | 30 | 28,439 | |
Sr. Unsec’d. Notes, 144A | 3.137 | 11/15/35 | 102 | 96,849 | |
Sr. Unsec’d. Notes, 144A | 3.419 | 04/15/33 | 65 | 64,717 |
13
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United States (cont’d.) | |||||
Caledonia Generating LLC, Sr. Sec’d. Notes, 144A | 1.950 % | 02/28/34 | 95 | $91,744 | |
Calpine Corp., | |||||
Sr. Sec’d. Notes, 144A | 3.750 | 03/01/31 | 75 | 68,119 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 02/01/29 | 60 | 56,804 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/31 | 10 | 9,475 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 03/15/28 | 50 | 48,769 | |
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||
Sr. Unsec’d. Notes, 144A | 4.250 | 02/01/31 | 50 | 47,758 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/28 | 75 | 75,931 | |
CDW LLC/CDW Finance Corp., Gtd. Notes | 2.670 | 12/01/26 | 100 | 99,604 | |
Central Garden & Pet Co., Gtd. Notes, 144A | 4.125 | 04/30/31 | 25 | 23,899 | |
CF Industries, Inc., | |||||
Gtd. Notes | 4.950 | 06/01/43 | 40 | 45,775 | |
Gtd. Notes | 5.375 | 03/15/44 | 40 | 48,291 | |
Charter Communications Operating LLC/Charter Communications Operating Capital, | |||||
Sr. Sec’d. Notes | 2.300 | 02/01/32 | 40 | 36,020 | |
Sr. Sec’d. Notes | 3.900 | 06/01/52 | 135 | 123,787 | |
Sr. Sec’d. Notes | 4.800 | 03/01/50 | 35 | 35,898 | |
Sr. Sec’d. Notes | 6.384 | 10/23/35 | 100 | 122,485 | |
Cigna Corp., Sr. Unsec’d. Notes | 2.400 | 03/15/30 | 25 | 24,140 | |
Citigroup, Inc., | |||||
Jr. Sub. Notes | 3.875(ff) | 02/18/26(oo) | 150 | 146,921 | |
Sr. Unsec’d. Notes | 1.462(ff) | 06/09/27 | 300 | 287,978 | |
Sr. Unsec’d. Notes | 2.520(ff) | 11/03/32 | 35 | 33,724 | |
Sr. Unsec’d. Notes | 2.561(ff) | 05/01/32 | 100 | 96,968 | |
Sr. Unsec’d. Notes | 3.106(ff) | 04/08/26 | 300 | 308,213 | |
CNA Financial Corp., Sr. Unsec’d. Notes | 3.900 | 05/01/29 | 100 | 107,959 | |
CSC Holdings LLC, Sr. Unsec’d. Notes, 144A | 4.625 | 12/01/30 | 200 | 178,053 | |
CVS Health Corp., Sr. Unsec’d. Notes | 4.300 | 03/25/28 | 3 | 3,272 | |
Dana, Inc., | |||||
Sr. Unsec’d. Notes | 4.500 | 02/15/32 | 50 | 47,764 | |
Sr. Unsec’d. Notes | 5.375 | 11/15/27 | 25 | 25,824 | |
Danaher Corp., Sr. Unsec’d. Notes | 2.100 | 09/30/26 | EUR | 100 | 120,241 |
14
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United States (cont’d.) | |||||
Diamond Sports Group LLC/Diamond Sports Finance Co., Gtd. Notes, 144A | 6.625 % | 08/15/27 | 45 | $11,851 | |
Diamondback Energy, Inc., Gtd. Notes | 3.125 | 03/24/31 | 15 | 14,943 | |
Discovery Communications LLC, | |||||
Gtd. Notes | 4.900 | 03/11/26 | 100 | 108,591 | |
Gtd. Notes | 5.300 | 05/15/49 | 60 | 70,309 | |
DISH DBS Corp., Gtd. Notes | 7.750 | 07/01/26 | 100 | 103,033 | |
Diversified Healthcare Trust, Gtd. Notes | 9.750 | 06/15/25 | 75 | 79,710 | |
Endeavor Energy Resources LP/EER Finance, Inc., Sr. Unsec’d. Notes, 144A | 5.750 | 01/30/28 | 75 | 77,590 | |
Energy Transfer LP, | |||||
Jr. Sub. Notes, Series G | 7.125(ff) | 05/15/30(oo) | 100 | 102,052 | |
Jr. Sub. Notes, Series H | 6.500(ff) | 11/15/26(oo) | 50 | 51,122 | |
Sr. Unsec’d. Notes | 5.000 | 05/15/50 | 45 | 48,840 | |
Enterprise Products Operating LLC, | |||||
Gtd. Notes | 3.700 | 01/31/51 | 15 | 14,745 | |
Gtd. Notes | 3.950 | 01/31/60 | 15 | 14,950 | |
Fidelity National Information Services, Inc., Sr. Unsec’d. Notes | 1.500 | 05/21/27 | EUR | 100 | 115,683 |
Ford Motor Co., Sr. Unsec’d. Notes | 5.291 | 12/08/46 | 125 | 137,150 | |
General Motors Co., Sr. Unsec’d. Notes | 5.150 | 04/01/38 | 50 | 56,696 | |
General Motors Financial Co., Inc., Sr. Unsec’d. Notes | 2.700 | 06/10/31 | 75 | 71,551 | |
Goldman Sachs Group, Inc. (The), | |||||
Jr. Sub. Notes, Series U | 3.650(ff) | 08/10/26(oo) | 130 | 124,133 | |
Sr. Unsec’d. Notes | 1.542(ff) | 09/10/27 | 300 | 286,707 | |
Sr. Unsec’d. Notes | 1.992(ff) | 01/27/32 | 20 | 18,433 | |
Sr. Unsec’d. Notes | 2.615(ff) | 04/22/32 | 195 | 188,935 | |
HCA, Inc., Sr. Sec’d. Notes | 5.250 | 04/15/25 | 100 | 108,773 | |
Hunt Cos., Inc., Sr. Sec’d. Notes, 144A | 5.250 | 04/15/29 | 50 | 47,689 | |
JBS USA LUX SA/JBS USA Finance, Inc., Gtd. Notes, 144A | 6.750 | 02/15/28 | 75 | 80,239 |
15
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United States (cont’d.) | |||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., Gtd. Notes, 144A | 6.500 % | 04/15/29 | 25 | $27,166 | |
Jefferies Group LLC/Jefferies Group Capital Finance, Inc., Sr. Unsec’d. Notes | 2.625 | 10/15/31 | 150 | 142,938 | |
JPMorgan Chase & Co., | |||||
Jr. Sub. Notes, Series HH | 4.600(ff) | 02/01/25(oo) | 200 | 199,029 | |
Sr. Unsec’d. Notes | 2.069(ff) | 06/01/29 | 250 | 240,343 | |
Sr. Unsec’d. Notes | 2.083(ff) | 04/22/26 | 90 | 89,701 | |
Sr. Unsec’d. Notes | 2.545(ff) | 11/08/32 | 110 | 106,693 | |
Sr. Unsec’d. Notes | 2.580(ff) | 04/22/32 | 125 | 121,605 | |
Sr. Unsec’d. Notes | 3.702(ff) | 05/06/30 | 65 | 68,798 | |
Kraft Heinz Foods Co., Gtd. Notes | 3.000 | 06/01/26 | 93 | 93,930 | |
Lamb Weston Holdings, Inc., Gtd. Notes, 144A | 4.375 | 01/31/32 | 25 | 24,691 | |
Marathon Petroleum Corp., Sr. Unsec’d. Notes | 6.500 | 03/01/41 | 50 | 65,580 | |
Marriott International, Inc., Sr. Unsec’d. Notes, Series HH | 2.850 | 04/15/31 | 75 | 72,433 | |
Masonite International Corp., Gtd. Notes, 144A | 3.500 | 02/15/30 | 50 | 47,196 | |
MEDNAX, Inc., Gtd. Notes, 144A | 6.250 | 01/15/27 | 25 | 26,129 | |
Medtronic Global Holdings SCA, Gtd. Notes | 0.750 | 10/15/32 | EUR | 100 | 108,030 |
Morgan Stanley, | |||||
Sr. Unsec’d. Notes | 0.406(ff) | 10/29/27 | EUR | 200 | 219,777 |
Sr. Unsec’d. Notes | 1.593(ff) | 05/04/27 | 110 | 106,211 | |
Sr. Unsec’d. Notes, EMTN | 7.500 | 12/15/27 | MXN | 1,000 | 46,070 |
Sr. Unsec’d. Notes, GMTN | 2.239(ff) | 07/21/32 | 150 | 141,584 | |
Sr. Unsec’d. Notes, MTN | 1.928(ff) | 04/28/32 | 75 | 69,036 | |
Sr. Unsec’d. Notes, MTN | 2.511(ff) | 10/20/32 | 55 | 53,195 | |
Mozart Debt Merger Sub, Inc., | |||||
Sr. Sec’d. Notes, 144A | 3.875 | 04/01/29 | 50 | 48,173 | |
Sr. Unsec’d. Notes, 144A | 5.250 | 10/01/29 | 25 | 24,313 | |
MPLX LP, Sr. Unsec’d. Notes | 4.000 | 03/15/28 | 25 | 26,447 | |
MPT Operating Partnership LP/MPT Finance Corp., Gtd. Notes | 3.375 | 04/24/30 | GBP | 250 | 336,146 |
16
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United States (cont’d.) | |||||
Nationstar Mortgage Holdings, Inc., | |||||
Gtd. Notes, 144A | 5.500 % | 08/15/28 | 15 | $14,700 | |
Gtd. Notes, 144A | 6.000 | 01/15/27 | 35 | 36,314 | |
Newell Brands, Inc., Sr. Unsec’d. Notes | 4.700 | 04/01/26 | 100 | 104,831 | |
NRG Energy, Inc., Gtd. Notes | 5.750 | 01/15/28 | 53 | 54,929 | |
ONEOK, Inc., Gtd. Notes | 4.450 | 09/01/49 | 120 | 124,777 | |
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC/Reynolds Group Issuer LLC, Sr. Sec’d. Notes, 144A | 4.000 | 10/15/27 | 50 | 47,364 | |
Penn National Gaming, Inc., Sr. Unsec’d. Notes, 144A | 5.625 | 01/15/27 | 75 | 76,863 | |
Phillips 66, Gtd. Notes | 3.700 | 04/06/23 | 15 | 15,410 | |
Post Holdings, Inc., Sr. Unsec’d. Notes, 144A | 4.500 | 09/15/31 | 50 | 47,577 | |
Range Resources Corp., Gtd. Notes | 9.250 | 02/01/26 | 50 | 53,469 | |
Realty Income Corp., | |||||
Sr. Unsec’d. Notes | 2.200 | 06/15/28 | 5 | 4,897 | |
Sr. Unsec’d. Notes | 2.850 | 12/15/32 | 5 | 4,991 | |
Scientific Games International, Inc., Sr. Sec’d. Notes, 144A | 5.000 | 10/15/25 | 100 | 102,206 | |
Silgan Holdings, Inc., Gtd. Notes | 2.250 | 06/01/28 | EUR | 200 | 218,762 |
Skyworks Solutions, Inc., Sr. Unsec’d. Notes | 3.000 | 06/01/31 | 75 | 72,312 | |
Southwest Airlines Co., Sr. Unsec’d. Notes | 5.125 | 06/15/27 | 180 | 201,084 | |
Standard Industries, Inc., Sr. Unsec’d. Notes, 144A | 4.375 | 07/15/30 | 25 | 23,937 | |
Stryker Corp., Sr. Unsec’d. Notes | 2.625 | 11/30/30 | EUR | 100 | 125,286 |
Suburban Propane Partners LP/Suburban Energy Finance Corp., Sr. Unsec’d. Notes | 5.875 | 03/01/27 | 50 | 51,469 | |
Swiss Re Finance UK PLC, Gtd. Notes, EMTN | 2.714(ff) | 06/04/52 | EUR | 100 | 115,860 |
17
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United States (cont’d.) | |||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Gtd. Notes, 144A | 7.500 % | 10/01/25 | 50 | $52,589 | |
Taylor Morrison Communities, Inc., | |||||
Gtd. Notes, 144A | 5.875 | 06/15/27 | 25 | 26,830 | |
Gtd. Notes, 144A | 6.625 | 07/15/27 | 25 | 26,058 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 08/01/30 | 10 | 10,384 | |
Tenet Healthcare Corp., Gtd. Notes, 144A | 6.125 | 10/01/28 | 75 | 75,350 | |
T-Mobile USA, Inc., | |||||
Sr. Sec’d. Notes | 4.375 | 04/15/40 | 30 | 32,286 | |
Sr. Sec’d. Notes | 4.500 | 04/15/50 | 40 | 43,779 | |
U.S. Bancorp, Jr. Sub. Notes | 3.700(ff) | 01/15/27(oo) | 200 | 192,496 | |
UGI International LLC, Gtd. Notes, 144A | 2.500 | 12/01/29 | EUR | 150 | 162,243 |
United Airlines 2019-2 Class AA Pass-Through Trust, Pass-Through Certificates | 2.700 | 11/01/33 | 23 | 22,952 | |
United Airlines, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.375 | 04/15/26 | 60 | 59,576 | |
Sr. Sec’d. Notes, 144A | 4.625 | 04/15/29 | 10 | 9,939 | |
United Rentals North America, Inc., Gtd. Notes | 5.250 | 01/15/30 | 60 | 63,027 | |
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, Sr. Sec’d. Notes, 144A | 7.875 | 02/15/25 | 100 | 104,135 | |
Vector Group Ltd., Sr. Sec’d. Notes, 144A | 5.750 | 02/01/29 | 125 | 115,781 | |
Ventas Realty LP, Gtd. Notes | 2.500 | 09/01/31 | 130 | 124,380 | |
Venture Global Calcasieu Pass LLC, | |||||
Sr. Sec’d. Notes, 144A | 3.875 | 08/15/29 | 5 | 4,998 | |
Sr. Sec’d. Notes, 144A | 4.125 | 08/15/31 | 5 | 5,037 | |
Verizon Communications, Inc., | |||||
Sr. Unsec’d. Notes | 2.550 | 03/21/31 | 45 | 43,935 | |
Sr. Unsec’d. Notes | 2.650 | 11/20/40 | 45 | 40,247 | |
Sr. Unsec’d. Notes | 3.400 | 03/22/41 | 20 | 19,805 | |
Viatris, Inc., | |||||
Gtd. Notes | 3.850 | 06/22/40 | 110 | 110,266 | |
Gtd. Notes | 4.000 | 06/22/50 | 15 | 14,807 | |
Vistra Corp., | |||||
Jr. Sub. Notes, 144A | 7.000(ff) | 12/15/26(oo) | 25 | 24,960 |
18
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United States (cont’d.) | |||||
Vistra Corp., (cont’d.) | |||||
Jr. Sub. Notes, 144A | 8.000 %(ff) | 10/15/26(oo) | 125 | $129,787 | |
Vistra Operations Co. LLC, | |||||
Gtd. Notes, 144A | 5.000 | 07/31/27 | 45 | 45,651 | |
Gtd. Notes, 144A | 5.625 | 02/15/27 | 75 | 76,494 | |
Warner Media LLC, Gtd. Notes | 4.050 | 12/15/23 | 150 | 155,222 | |
Wells Fargo & Co., Sr. Unsec’d. Notes, MTN | 3.000 | 02/19/25 | 80 | 82,282 | |
Welltower, Inc., | |||||
Sr. Unsec’d. Notes | 2.050 | 01/15/29 | 50 | 48,048 | |
Sr. Unsec’d. Notes | 3.100 | 01/15/30 | 70 | 71,365 | |
Williams Cos., Inc. (The), Sr. Unsec’d. Notes | 3.500 | 10/15/51 | 30 | 28,228 | |
WPC Eurobond BV, Gtd. Notes | 0.950 | 06/01/30 | EUR | 100 | 105,581 |
13,529,268 | |||||
Total Corporate Bonds (cost $31,233,905) | 30,326,673 | ||||
Residential Mortgage-Backed Securities 3.1% | |||||
Bermuda 0.7% | |||||
Bellemeade Re Ltd., | |||||
Series 2018-01A, Class M1B, 144A, 1 Month LIBOR + 1.600% (Cap N/A, Floor 0.000%) | 1.708(c) | 04/25/28 | 4 | 4,325 | |
Series 2021-01A, Class M1A, 144A, 30 Day Average SOFR + 1.750% (Cap N/A, Floor 1.750%) | 1.800(c) | 03/25/31 | 141 | 141,473 | |
Home Re Ltd., Series 2021-01, Class M1B, 144A, 1 Month LIBOR + 1.550% (Cap N/A, Floor 0.000%) | 1.658(c) | 07/25/33 | 150 | 149,436 | |
Oaktown Re VII Ltd., Series 2021-02, Class M1A, 144A, 30 Day Average SOFR + 1.600% (Cap N/A, Floor 1.600%) | 1.650(c) | 04/25/34 | 300 | 299,500 | |
594,734 | |||||
Ireland 0.1% | |||||
Retiro Mortgage Securities DAC, Series 01A, Class A1, 144A, 3 Month EURIBOR + 2.000% (Cap 5.000%, Floor 0.000%) | 1.453(c) | 07/30/75 | EUR | 74 | 82,465 |
19
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Residential Mortgage-Backed Securities (Continued) | |||||
United Kingdom 0.2% | |||||
Jupiter Mortgage PLC, Series 1A, Class B, 144A, SONIA + 1.400% (Cap N/A, Floor 0.000%) | 1.492 %(c) | 07/20/60 | GBP | 100 | $135,004 |
United States 2.1% | |||||
BVRT Financing Trust, Series 2021-04, Class F, 144A, SOFR + 2.000%^ | 2.050(c) | 09/12/26 | 76 | 76,221 | |
Connecticut Avenue Securities Trust, Series 2022-R01, Class 1B1, 144A, 30 Day Average SOFR + 3.150% (Cap N/A, Floor 0.000%) | 3.200(c) | 12/25/41 | 110 | 109,177 | |
FHLMC Structured Agency Credit Risk Debt Notes, | |||||
Series 2020-HQA05, Class B1, 144A, 30 Day Average SOFR + 4.000% (Cap N/A, Floor 0.000%) | 4.050(c) | 11/25/50 | 35 | 36,587 | |
Series 2020-HQA05, Class M2, 144A, 30 Day Average SOFR + 2.600% (Cap N/A, Floor 0.000%) | 2.650(c) | 11/25/50 | 141 | 142,508 | |
FHLMC Structured Agency Credit Risk REMIC Trust, | |||||
Series 2020-HQA03, Class M2, 144A, 1 Month LIBOR + 3.600% (Cap N/A, Floor 0.000%) | 3.708(c) | 07/25/50 | 6 | 5,683 | |
Series 2021-DNA01, Class B1, 144A, 30 Day Average SOFR + 2.650% (Cap N/A, Floor 0.000%) | 2.700(c) | 01/25/51 | 10 | 9,900 | |
Series 2021-DNA01, Class M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 0.000%) | 1.850(c) | 01/25/51 | 80 | 80,168 | |
Series 2021-DNA03, Class B1, 144A, 30 Day Average SOFR + 3.500% (Cap N/A, Floor 0.000%) | 3.550(c) | 10/25/33 | 45 | 46,351 | |
Series 2021-DNA05, Class B1, 144A, 30 Day Average SOFR + 3.050% (Cap N/A, Floor 0.000%) | 3.100(c) | 01/25/34 | 30 | 30,147 | |
Series 2021-DNA05, Class M2, 144A, 30 Day Average SOFR + 1.650% (Cap N/A, Floor 0.000%) | 1.700(c) | 01/25/34 | 20 | 20,063 | |
Series 2021-DNA06, Class B1, 144A, 30 Day Average SOFR + 3.400% (Cap N/A, Floor 0.000%) | 3.450(c) | 10/25/41 | 100 | 99,938 | |
Series 2021-HQA03, Class B1, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%) | 3.400(c) | 09/25/41 | 30 | 29,737 | |
Series 2021-HQA03, Class M2, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | 2.150(c) | 09/25/41 | 70 | 69,124 | |
GCAT Asset-Backed Notes, Series 2021-01, Class A1, 144A | 2.487 | 11/25/49 | 193 | 191,366 | |
GS Mortgage-Backed Securities Trust, Series 2019-SL01, Class A1, 144A | 2.625(cc) | 01/25/59 | 19 | 19,575 | |
Legacy Mortgage Asset Trust, | |||||
Series 2019-PR01, Class A1, 144A | 3.858 | 09/25/59 | 73 | 73,699 | |
Series 2020-GS01, Class A1, 144A | 2.882 | 10/25/59 | 78 | 78,383 | |
20
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Residential Mortgage-Backed Securities (Continued) | |||||
United States (cont’d.) | |||||
MFA Trust, Series 2021-RPL01, Class A1, 144A | 1.131 %(cc) | 07/25/60 | 208 | $202,865 | |
PMT Credit Risk Transfer Trust, Series 2020-02R, Class A, 144A, 1 Month LIBOR + 3.815% (Cap N/A, Floor 3.815%) | 3.923(c) | 12/25/22 | 120 | 120,430 | |
PNMAC GMSR Issuer Trust, | |||||
Series 2018-GT01, Class A, 144A, 1 Month LIBOR + 2.850% (Cap N/A, Floor 2.850%) | 2.958(c) | 02/25/23 | 100 | 100,168 | |
Series 2018-GT02, Class A, 144A, 1 Month LIBOR + 2.650% (Cap N/A, Floor 0.000%) | 2.758(c) | 08/25/25 | 100 | 100,153 | |
1,642,243 | |||||
Total Residential Mortgage-Backed Securities (cost $2,467,524) | 2,454,446 | ||||
Sovereign Bonds 25.2% | |||||
Andorra 0.3% | |||||
Andorra International Bond, Sr. Unsec’d. Notes, EMTN | 1.250 | 05/06/31 | EUR | 200 | 223,433 |
Austria 0.2% | |||||
Republic of Austria Government International Bond, Sr. Unsec’d. Notes, 144A, MTN | 5.375 | 12/01/34 | CAD | 160 | 158,980 |
Brazil 0.8% | |||||
Brazil Loan Trust 1, Gov’t. Gtd. Notes | 5.477 | 07/24/23 | 47 | 48,340 | |
Brazil Minas SPE via State of Minas Gerais, Gov’t. Gtd. Notes | 5.333 | 02/15/28 | 595 | 605,572 | |
653,912 | |||||
Bulgaria 0.2% | |||||
Bulgaria Government International Bond, Sr. Unsec’d. Notes, GMTN | 3.125 | 03/26/35 | EUR | 100 | 135,773 |
Canada 0.5% | |||||
City of Montreal Canada, Unsec’d. Notes | 3.000 | 09/01/27 | CAD | 200 | 163,243 |
21
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Canada (cont’d.) | |||||
Municipal Finance Authority of British Columbia, Unsec’d. Notes | 2.500 % | 04/19/26 | CAD | 200 | $160,233 |
Province of Saskatchewan, Unsec’d. Notes | 3.300 | 06/02/48 | CAD | 100 | 82,833 |
406,309 | |||||
Chile 0.2% | |||||
Chile Government International Bond, Sr. Unsec’d. Notes | 1.440 | 02/01/29 | EUR | 115 | 133,062 |
China 1.0% | |||||
China Government Bond, | |||||
Sr. Unsec’d. Notes | 3.600 | 06/27/28 | CNH | 2,000 | 330,360 |
Sr. Unsec’d. Notes | 4.000 | 11/30/35 | CNH | 500 | 87,784 |
Sr. Unsec’d. Notes | 4.400 | 12/12/46 | CNH | 500 | 92,551 |
China Government International Bond, Sr. Unsec’d. Notes | 0.250 | 11/25/30 | EUR | 100 | 107,729 |
Export-Import Bank of China (The), Sr. Unsec’d. Notes | 4.400 | 05/14/24 | CNH | 1,000 | 162,759 |
781,183 | |||||
Colombia 1.0% | |||||
Colombia Government International Bond, | |||||
Sr. Unsec’d. Notes | 3.000 | 01/30/30 | 200 | 174,406 | |
Sr. Unsec’d. Notes, EMTN | 3.875 | 03/22/26 | EUR | 500 | 602,450 |
776,856 | |||||
Croatia 0.4% | |||||
Croatia Government International Bond, | |||||
Sr. Unsec’d. Notes | 1.125 | 06/19/29 | EUR | 200 | 223,846 |
Sr. Unsec’d. Notes | 1.125 | 03/04/33 | EUR | 100 | 107,456 |
331,302 | |||||
Cyprus 1.0% | |||||
Cyprus Government International Bond, | |||||
Sr. Unsec’d. Notes, EMTN | 0.625 | 01/21/30 | EUR | 100 | 109,822 |
Sr. Unsec’d. Notes, EMTN | 1.250 | 01/21/40 | EUR | 20 | 21,995 |
Sr. Unsec’d. Notes, EMTN | 2.375 | 09/25/28 | EUR | 100 | 124,587 |
Sr. Unsec’d. Notes, EMTN | 2.750 | 06/27/24 | EUR | 100 | 120,386 |
22
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Cyprus (cont’d.) | |||||
Cyprus Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes, EMTN | 2.750 % | 02/26/34 | EUR | 200 | $262,277 |
Sr. Unsec’d. Notes, EMTN | 2.750 | 05/03/49 | EUR | 30 | 42,117 |
Sr. Unsec’d. Notes, EMTN | 4.250 | 11/04/25 | EUR | 50 | 64,867 |
746,051 | |||||
Dominican Republic 0.1% | |||||
Dominican Republic International Bond, Sr. Unsec’d. Notes | 5.950 | 01/25/27 | 100 | 109,828 | |
France 0.1% | |||||
Caisse Francaise de Financement Local, Covered Bonds, EMTN | 4.680 | 03/09/29 | CAD | 100 | 90,023 |
Germany 0.1% | |||||
Bundesrepublik Deutschland Bundesanleihe, Bonds | 0.000 | 08/15/31 | EUR | 100 | 112,645 |
Greece 2.1% | |||||
Hellenic Republic Government Bond, | |||||
Bonds, 144A | 0.750 | 06/18/31 | EUR | 300 | 308,580 |
Sr. Unsec’d. Notes, 144A | 1.875 | 02/04/35 | EUR | 1,019 | 1,140,618 |
Sr. Unsec’d. Notes, 144A | 1.875 | 01/24/52 | EUR | 135 | 134,048 |
Hellenic Republic Government International Bond, Sr. Unsec’d. Notes | 5.200 | 07/17/34 | EUR | 50 | 73,054 |
1,656,300 | |||||
Hungary 0.5% | |||||
Hungary Government International Bond, | |||||
Sr. Unsec’d. Notes | 1.750 | 10/10/27 | EUR | 100 | 120,650 |
Sr. Unsec’d. Notes | 1.750 | 06/05/35 | EUR | 100 | 114,444 |
Sr. Unsec’d. Notes, 144A | 2.125 | 09/22/31 | 200 | 189,508 | |
424,602 | |||||
Indonesia 1.5% | |||||
Indonesia Government International Bond, | |||||
Sr. Unsec’d. Notes | 0.900 | 02/14/27 | EUR | 100 | 110,800 |
Sr. Unsec’d. Notes | 1.100 | 03/12/33 | EUR | 100 | 105,288 |
Sr. Unsec’d. Notes | 1.450 | 09/18/26 | EUR | 100 | 114,961 |
23
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Indonesia (cont’d.) | |||||
Indonesia Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes | 1.750 % | 04/24/25 | EUR | 200 | $232,554 |
Sr. Unsec’d. Notes | 3.375 | 07/30/25 | EUR | 100 | 122,456 |
Sr. Unsec’d. Notes, EMTN | 3.750 | 06/14/28 | EUR | 200 | 256,023 |
Sr. Unsec’d. Notes, EMTN | 4.125 | 01/15/25 | 200 | 213,178 | |
1,155,260 | |||||
Israel 0.6% | |||||
Israel Government International Bond, | |||||
Sr. Unsec’d. Notes, EMTN | 1.500 | 01/18/27 | EUR | 100 | 119,157 |
Sr. Unsec’d. Notes, EMTN | 1.500 | 01/16/29 | EUR | 270 | 325,571 |
444,728 | |||||
Italy 3.1% | |||||
Italy Buoni Poliennali Del Tesoro, | |||||
Bonds, 144A | 2.800 | 03/01/67 | EUR | 105 | 128,673 |
Sr. Unsec’d. Notes, 144A | 1.450 | 03/01/36 | EUR | 120 | 133,015 |
Sr. Unsec’d. Notes, 144A | 1.700 | 09/01/51 | EUR | 150 | 154,692 |
Sr. Unsec’d. Notes, 144A | 1.800 | 03/01/41 | EUR | 415 | 462,619 |
Sr. Unsec’d. Notes, 144A | 3.350 | 03/01/35 | EUR | 220 | 300,399 |
Region of Lazio, Sr. Unsec’d. Notes | 3.088 | 03/31/43 | EUR | 89 | 111,578 |
Repubic of Italy Government International Bond Coupon Strips, Sr. Unsec’d. Notes | 1.737(s) | 02/20/31 | EUR | 85 | 84,900 |
Republic of Italy Government International Bond, | |||||
Sr. Unsec’d. Notes | 2.875 | 10/17/29 | 200 | 200,053 | |
Sr. Unsec’d. Notes, EMTN | 5.200 | 07/31/34 | EUR | 100 | 156,161 |
Sr. Unsec’d. Notes, EMTN | 5.345 | 01/27/48 | EUR | 50 | 89,268 |
Sr. Unsec’d. Notes, EMTN | 6.000 | 08/04/28 | GBP | 100 | 164,272 |
Sr. Unsec’d. Notes, MTN | 5.125 | 07/31/24 | EUR | 350 | 440,378 |
2,426,008 | |||||
Japan 0.5% | |||||
Japan Government Thirty Year Bond, | |||||
Bonds, Series 70 | 0.700 | 03/20/51 | JPY | 15,000 | 128,020 |
Bonds, Series 72 | 0.700 | 09/20/51 | JPY | 15,000 | 127,783 |
24
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Japan (cont’d.) | |||||
Japan Government Twenty Year Bond, Bonds, Series 176 | 0.500 % | 03/20/41 | JPY | 15,000 | $129,205 |
385,008 | |||||
Kazakhstan 0.5% | |||||
Kazakhstan Government International Bond, | |||||
Sr. Unsec’d. Notes, EMTN | 0.600 | 09/30/26 | EUR | 200 | 216,975 |
Sr. Unsec’d. Notes, EMTN | 2.375 | 11/09/28 | EUR | 115 | 136,649 |
353,624 | |||||
Mexico 0.4% | |||||
Mexico Government International Bond, | |||||
Sr. Unsec’d. Notes | 2.875 | 04/08/39 | EUR | 200 | 219,602 |
Sr. Unsec’d. Notes, EMTN | 1.750 | 04/17/28 | EUR | 100 | 113,898 |
333,500 | |||||
New Zealand 0.1% | |||||
New Zealand Local Government Funding Agency Bond, Local Gov’t. Gtd. Notes | 3.500 | 04/14/33 | NZD | 100 | 67,358 |
Panama 0.5% | |||||
Panama Government International Bond, | |||||
Sr. Unsec’d. Notes | 3.160 | 01/23/30 | 200 | 201,247 | |
Sr. Unsec’d. Notes | 3.875 | 03/17/28 | 200 | 210,208 | |
411,455 | |||||
Peru 0.8% | |||||
Peruvian Government International Bond, | |||||
Sr. Unsec’d. Notes | 1.250 | 03/11/33 | EUR | 105 | 110,856 |
Sr. Unsec’d. Notes | 2.392 | 01/23/26 | 85 | 85,083 | |
Sr. Unsec’d. Notes | 2.750 | 01/30/26 | EUR | 300 | 367,796 |
Sr. Unsec’d. Notes | 6.900 | 08/12/37 | PEN | 100 | 26,202 |
589,937 | |||||
Philippines 0.7% | |||||
Philippine Government International Bond, Sr. Unsec’d. Notes | 0.700 | 02/03/29 | EUR | 500 | 546,425 |
25
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Portugal 1.5% | |||||
Portugal Government International Bond, Sr. Unsec’d. Notes | 4.090 % | 06/03/22 | CNH | 600 | $94,584 |
Portugal Obrigacoes do Tesouro OT, | |||||
Sr. Unsec’d. Notes, 144A | 0.300 | 10/17/31 | EUR | 200 | 217,166 |
Sr. Unsec’d. Notes, 144A | 2.250 | 04/18/34 | EUR | 50 | 65,427 |
Sr. Unsec’d. Notes, 144A | 4.100 | 04/15/37 | EUR | 195 | 316,198 |
Sr. Unsec’d. Notes, 144A | 4.100 | 02/15/45 | EUR | 145 | 256,594 |
Unsec’d. Notes, 144A | 1.000 | 04/12/52 | EUR | 260 | 256,876 |
1,206,845 | |||||
Qatar 0.3% | |||||
Qatar Government International Bond, Sr. Unsec’d. Notes, 144A | 3.400 | 04/16/25 | 200 | 209,244 | |
Romania 0.5% | |||||
Romanian Government International Bond, | |||||
Sr. Unsec’d. Notes, 144A, MTN | 2.125 | 03/07/28 | EUR | 180 | 202,104 |
Sr. Unsec’d. Notes, EMTN | 3.500 | 04/03/34 | EUR | 50 | 55,460 |
Sr. Unsec’d. Notes, EMTN | 3.875 | 10/29/35 | EUR | 100 | 113,816 |
Unsec’d. Notes, 144A, MTN | 2.124 | 07/16/31 | EUR | 50 | 51,317 |
422,697 | |||||
Russia 0.8% | |||||
Russian Foreign Bond - Eurobond, | |||||
Sr. Unsec’d. Notes | 1.125 | 11/20/27 | EUR | 100 | 105,023 |
Sr. Unsec’d. Notes | 1.850 | 11/20/32 | EUR | 200 | 205,271 |
Sr. Unsec’d. Notes | 2.650 | 05/27/36 | EUR | 100 | 104,241 |
Sr. Unsec’d. Notes | 2.875 | 12/04/25 | EUR | 200 | 231,431 |
645,966 | |||||
Saudi Arabia 0.5% | |||||
Saudi Government International Bond, | |||||
Sr. Unsec’d. Notes | 2.000 | 07/09/39 | EUR | 200 | 231,155 |
Sr. Unsec’d. Notes, 144A | 2.000 | 07/09/39 | EUR | 125 | 144,472 |
375,627 | |||||
Serbia 0.7% | |||||
Serbia International Bond, | |||||
Sr. Unsec’d. Notes | 1.650 | 03/03/33 | EUR | 100 | 101,052 |
26
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Serbia (cont’d.) | |||||
Serbia International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes | 3.125 % | 05/15/27 | EUR | 250 | $299,810 |
Sr. Unsec’d. Notes, 144A | 2.125 | 12/01/30 | 200 | 180,073 | |
580,935 | |||||
Spain 1.7% | |||||
Autonomous Community of Catalonia, Sr. Unsec’d. Notes | 4.220 | 04/26/35 | EUR | 100 | 144,068 |
Instituto de Credito Oficial, Gov’t. Gtd. Notes, GMTN | 0.963 | 09/22/22 | SEK | 1,000 | 107,871 |
Spain Government Bond, | |||||
Sr. Unsec’d. Notes, 144A | 0.500 | 04/30/30 | EUR | 35 | 39,265 |
Sr. Unsec’d. Notes, 144A | 0.500 | 10/31/31 | EUR | 250 | 274,429 |
Sr. Unsec’d. Notes, 144A | 1.000 | 10/31/50 | EUR | 190 | 187,851 |
Sr. Unsec’d. Notes, 144A | 1.850 | 07/30/35 | EUR | 285 | 354,083 |
Sr. Unsec’d. Notes, 144A | 3.450 | 07/30/66 | EUR | 60 | 98,813 |
Spain Government International Bond, Sr. Unsec’d. Notes, EMTN | 5.250 | 04/06/29 | GBP | 100 | 162,516 |
1,368,896 | |||||
Ukraine 0.6% | |||||
Ukraine Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.375 | 01/27/30 | EUR | 230 | 198,569 |
Sr. Unsec’d. Notes | 6.750 | 06/20/26 | EUR | 200 | 192,674 |
Sr. Unsec’d. Notes, 144A | 4.375 | 01/27/30 | EUR | 100 | 86,334 |
477,577 | |||||
United Arab Emirates 0.3% | |||||
UAE International Government Bond, Sr. Unsec’d. Notes, 144A, MTN | 2.000 | 10/19/31 | 205 | 198,208 | |
United Kingdom 0.9% | |||||
Isle of Man Government International Bond, | |||||
Unsec’d. Notes | 5.375 | 08/14/34 | GBP | 100 | 184,100 |
Unsec’d. Notes | 5.625 | 03/29/30 | GBP | 100 | 172,750 |
United Kingdom Gilt, Bonds | 4.250 | 12/07/46 | GBP | 155 | 326,767 |
683,617 |
27
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Uruguay 0.2% | |||||
Uruguay Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.375 % | 10/27/27 | 39 | $43,312 | |
Sr. Unsec’d. Notes | 4.375 | 01/23/31 | 62 | 70,108 | |
113,420 | |||||
Total Sovereign Bonds (cost $20,530,723) | 19,736,594 | ||||
U.S. Government Agency Obligation 0.2% | |||||
Tennessee Valley Authority Sr. Unsec’d. Notes (cost $192,418) | 5.625 | 06/07/32 | GBP | 100 | 180,980 |
U.S. Treasury Obligations 6.2% | |||||
U.S. Treasury Bonds | 2.750 | 08/15/47(k) | 675 | 753,152 | |
U.S. Treasury Notes | 0.625 | 08/15/30(k) | 300 | 273,047 | |
U.S. Treasury Notes | 1.000 | 07/31/28 | 2,400 | 2,291,063 | |
U.S. Treasury Notes | 1.125 | 02/15/31(k) | 1,600 | 1,514,750 | |
Total U.S. Treasury Obligations (cost $4,884,797) | 4,832,012 | ||||
Total Long-Term Investments (cost $77,325,318) | 75,472,006 |
Shares | |||||||
Short-Term Investments 5.3% | |||||||
Unaffiliated Fund 5.3% | |||||||
Dreyfus Government Cash Management (Institutional Shares) (cost $4,155,017) | 4,155,017 | 4,155,017 | |||||
Options Purchased*~ 0.0% | |||||||
(cost $10,079) | 11,701 | ||||||
Total Short-Term Investments (cost $4,165,096) | 4,166,718 | ||||||
28
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Description | Value | ||||
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 101.4% (cost $81,490,414) | $79,638,724 | ||||
Options Written*~ (0.0)% | |||||
(premiums received $12,000) | (15,464) | ||||
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 101.4% (cost $81,478,414) | 79,623,260 | ||||
Liabilities in excess of other assets(z) (1.4)% | (1,099,419) | ||||
Net Assets 100.0% | $78,523,841 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
AUD—Australian Dollar | |
BRL—Brazilian Real | |
CAD—Canadian Dollar | |
CHF—Swiss Franc | |
CLP—Chilean Peso | |
CNH—Chinese Renminbi | |
COP—Colombian Peso | |
CZK—Czech Koruna | |
EUR—Euro | |
GBP—British Pound | |
HUF—Hungarian Forint | |
IDR—Indonesian Rupiah | |
ILS—Israeli Shekel | |
JPY—Japanese Yen | |
KRW—South Korean Won | |
MXN—Mexican Peso | |
MYR—Malaysian Ringgit | |
NOK—Norwegian Krone | |
NZD—New Zealand Dollar | |
PEN—Peruvian Nuevo Sol | |
PLN—Polish Zloty | |
RUB—Russian Ruble | |
SAR—Saudi Arabian Riyal | |
SEK—Swedish Krona | |
SGD—Singapore Dollar | |
THB—Thai Baht | |
USD—US Dollar | |
ZAR—South African Rand |
144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. | |
A—Annual payment frequency for swaps | |
BBR—New Zealand Bank Bill Rate | |
BBSW—Australian Bank Bill Swap Reference Rate | |
BROIS—Brazil Overnight Index Swap | |
BTP—Buoni del Tesoro Poliennali | |
BUBOR—Budapest Interbank Offered Rate | |
CDOR—Canadian Dollar Offered Rate |
29
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
CDX—Credit Derivative Index | |
CLO—Collateralized Loan Obligation | |
CLOIS—Sinacofi Chile Interbank Rate Average | |
COOIS—Colombia Overnight Interbank Reference Rate | |
CPI—Consumer Price Index | |
EMTN—Euro Medium Term Note | |
EURIBOR—Euro Interbank Offered Rate | |
EuroSTR—Euro Short-Term Rate | |
FHLMC—Federal Home Loan Mortgage Corporation | |
GMTN—Global Medium Term Note | |
HICP—Harmonised Index of Consumer Prices | |
IO—Interest Only (Principal amount represents notional) | |
JIBAR—Johannesburg Interbank Agreed Rate | |
KLIBOR—Kuala Lumpur Interbank Offered Rate | |
KWCDC—Korean Won Certificate of Deposit | |
LIBOR—London Interbank Offered Rate | |
LP—Limited Partnership | |
M—Monthly payment frequency for swaps | |
MosPRIME—Moscow Prime Offered Rate | |
MTN—Medium Term Note | |
NIBOR—Norwegian Interbank Offered Rate | |
NSA—Non-Seasonally Adjusted | |
OAT—Obligations Assimilables du Tresor | |
OTC—Over-the-counter | |
PIK—Payment-in-Kind | |
PJSC—Public Joint-Stock Company | |
PRIBOR—Prague Interbank Offered Rate | |
Q—Quarterly payment frequency for swaps | |
REMICS—Real Estate Mortgage Investment Conduit Security | |
S—Semiannual payment frequency for swaps | |
SAIBOR—Saudi Arabian Interbank Offered Rate | |
SARON—Swiss Average Rate Overnight | |
SOFR—Secured Overnight Financing Rate | |
SONIA—Sterling Overnight Index Average | |
SORA—Singapore Overnight Rate Average | |
STIBOR—Stockholm Interbank Offered Rate | |
STRIPs—Separate Trading of Registered Interest and Principal of Securities | |
T—Swap payment upon termination | |
TELBOR—Tel Aviv Interbank Offered Rate | |
THBFIX—Thai Baht Interest Rate Fixing | |
TONAR—Tokyo Overnight Average Rate | |
USOIS—United States Overnight Index Swap | |
WIBOR—Warsaw Interbank Offered Rate |
* | Non-income producing security. |
# | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
~ | See tables subsequent to the Schedule of Investments for options detail. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $76,221 and 0.1% of net assets. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at January 31, 2022. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of January 31, 2022. 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. |
30
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
(ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
(oo) | Perpetual security. Maturity date represents next call date. |
(p) | Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end. |
(s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
Options Purchased:
OTC Swaptions | |||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Receive | Pay | Notional Amount (000)# | Value | |||||||||
2- Year Interest Rate Swaptions, 05/21/25 | Call | Deutsche Bank AG | 05/17/23 | 2.05% | 2.05%(A) | 3 Month SAIBOR(Q) | SAR | 3,000 | $1,236 | ||||||||
2- Year Interest Rate Swaptions, 05/21/25 | Put | Deutsche Bank AG | 05/17/23 | 2.05% | 3 Month SAIBOR(Q) | 2.05%(A) | SAR | 3,000 | 10,465 | ||||||||
Total Options Purchased (cost $10,079) | $11,701 |
Options Written:
OTC Swaptions | |||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Receive | Pay | Notional Amount (000)# | Value | |||||||||
2- Year Interest Rate Swaptions, 05/19/25 | Call | Deutsche Bank AG | 05/17/23 | 1.13% | 3 Month LIBOR(Q) | 1.13%(S) | 800 | $(1,775) | |||||||||
2- Year Interest Rate Swaptions, 05/19/25 | Put | Deutsche Bank AG | 05/17/23 | 1.13% | 1.13%(S) | 3 Month LIBOR(Q) | 800 | (13,689) | |||||||||
Total Options Written (premiums received $12,000) | $(15,464) |
Futures contracts outstanding at January 31, 2022: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
8 | 10 Year Canadian Government Bonds | Mar. 2022 | $875,428 | $(8,098) |
31
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Futures contracts outstanding at January 31, 2022 (continued): | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions (cont’d): | ||||||||
6 | 10 Year U.K. Gilt | Mar. 2022 | $984,144 | $(32,128) | ||||
40 | 20 Year U.S. Treasury Bonds | Mar. 2022 | 6,225,000 | (113,806) | ||||
24 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2022 | 4,534,500 | (100,159) | ||||
4 | EURO - BTP Italian Government Bond | Mar. 2022 | 655,556 | (3,104) | ||||
6 | Euro-OAT | Mar. 2022 | 1,085,320 | (28,664) | ||||
(285,959) | ||||||||
Short Positions: | ||||||||
3 | 3 Month SOFR | Jun. 2022 | 746,813 | 3,332 | ||||
93 | 2 Year U.S. Treasury Notes | Mar. 2022 | 20,149,031 | 146,875 | ||||
26 | 5 Year Euro-Bobl | Mar. 2022 | 3,862,691 | 62,195 | ||||
19 | 5 Year U.S. Treasury Notes | Mar. 2022 | 2,264,859 | 25,105 | ||||
13 | 10 Year Euro-Bund | Mar. 2022 | 2,469,826 | 76,900 | ||||
19 | 10 Year U.S. Ultra Treasury Notes | Mar. 2022 | 2,713,734 | 91,186 | ||||
113 | Euro Currency | Mar. 2022 | 15,895,569 | 95,756 | ||||
62 | Euro Schatz Index | Mar. 2022 | 7,792,530 | 23,819 | ||||
525,168 | ||||||||
$239,209 |
Forward foreign currency exchange contracts outstanding at January 31, 2022:
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
British Pound, | |||||||||||||
Expiring 02/02/22 | Standard Chartered Bank | GBP | 3,538 | $4,762,689 | $4,758,309 | $— | $(4,380) | ||||||
Expiring 04/19/22 | Morgan Stanley & Co. International PLC | GBP | 95 | 127,338 | 127,645 | 307 | — | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/19/22 | BNP Paribas S.A. | CAD | 67 | 53,033 | 53,060 | 27 | — | ||||||
Chilean Peso, | |||||||||||||
Expiring 03/16/22 | Morgan Stanley & Co. International PLC | CLP | 55,081 | 64,547 | 68,375 | 3,828 | — | ||||||
Chinese Renminbi, | |||||||||||||
Expiring 02/18/22 | Goldman Sachs International | CNH | 51 | 8,024 | 8,053 | 29 | — | ||||||
Colombian Peso, | |||||||||||||
Expiring 03/16/22 | BNP Paribas S.A. | COP | 185,139 | 46,331 | 46,643 | 312 | — | ||||||
Expiring 03/16/22 | BNP Paribas S.A. | COP | 146,522 | 36,807 | 36,914 | 107 | — | ||||||
Euro, | |||||||||||||
Expiring 02/02/22 | The Toronto-Dominion Bank | EUR | 137 | 154,479 | 153,932 | — | (547) | ||||||
Expiring 03/02/22 | Citibank, N.A. | EUR | 182 | 205,725 | 204,975 | — | (750) |
32
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2022 (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.): | |||||||||||||
Euro (cont’d.), | |||||||||||||
Expiring 04/19/22 | Goldman Sachs International | EUR | 106 | $121,377 | $119,372 | $— | $(2,005) | ||||||
Expiring 04/19/22 | Morgan Stanley & Co. International PLC | EUR | 71 | 79,248 | 79,426 | 178 | — | ||||||
Hungarian Forint, | |||||||||||||
Expiring 04/19/22 | BNP Paribas S.A. | HUF | 15,493 | 48,434 | 48,578 | 144 | — | ||||||
Expiring 04/19/22 | BNP Paribas S.A. | HUF | 14,766 | 46,714 | 46,298 | — | (416) | ||||||
Japanese Yen, | |||||||||||||
Expiring 02/02/22 | Morgan Stanley & Co. International PLC | JPY | 70,875 | 622,266 | 615,890 | — | (6,376) | ||||||
Expiring 04/19/22 | Citibank, N.A. | JPY | 8,400 | 72,968 | 73,063 | 95 | — | ||||||
Polish Zloty, | |||||||||||||
Expiring 04/19/22 | HSBC Bank PLC | PLN | 410 | 103,340 | 99,971 | — | (3,369) | ||||||
South African Rand, | |||||||||||||
Expiring 03/16/22 | Citibank, N.A. | ZAR | 905 | 58,147 | 58,501 | 354 | — | ||||||
South Korean Won, | |||||||||||||
Expiring 03/16/22 | Barclays Bank PLC | KRW | 50,588 | 41,919 | 41,911 | — | (8) | ||||||
Swedish Krona, | |||||||||||||
Expiring 04/19/22 | Citibank, N.A. | SEK | 369 | 39,612 | 39,653 | 41 | — | ||||||
$6,692,998 | $6,680,569 | 5,422 | (17,851) |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Australian Dollar, | |||||||||||||
Expiring 04/19/22 | JPMorgan Chase Bank, N.A. | AUD | 297 | $214,155 | $209,874 | $4,281 | $— | ||||||
British Pound, | |||||||||||||
Expiring 02/02/22 | Barclays Bank PLC | GBP | 9 | 12,054 | 11,866 | 188 | — | ||||||
Expiring 02/02/22 | Citibank, N.A. | GBP | 3,529 | 4,783,031 | 4,746,444 | 36,587 | — | ||||||
Expiring 03/02/22 | JPMorgan Chase Bank, N.A. | GBP | 242 | 325,464 | 325,385 | 79 | — | ||||||
Expiring 03/02/22 | JPMorgan Chase Bank, N.A. | GBP | 78 | 105,083 | 105,531 | — | (448) | ||||||
Expiring 03/02/22 | Standard Chartered Bank | GBP | 3,538 | 4,761,871 | 4,757,499 | 4,372 | — | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/19/22 | HSBC Bank PLC | CAD | 1,098 | 874,120 | 863,413 | 10,707 | — | ||||||
Chinese Renminbi, | |||||||||||||
Expiring 02/18/22 | Barclays Bank PLC | CNH | 266 | 41,653 | 41,684 | — | (31) | ||||||
Expiring 02/18/22 | Citibank, N.A. | CNH | 267 | 41,920 | 41,898 | 22 | — |
33
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2022 (continued):
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Chinese Renminbi (cont’d.), | |||||||||||||
Expiring 02/18/22 | Deutsche Bank AG | CNH | 12,046 | $1,876,185 | $1,888,111 | $— | $(11,926) | ||||||
Expiring 02/18/22 | Morgan Stanley & Co. International PLC | CNH | 1,831 | 285,691 | 286,998 | — | (1,307) | ||||||
Euro, | |||||||||||||
Expiring 02/02/22 | HSBC Bank PLC | EUR | 137 | 155,141 | 153,932 | 1,209 | — | ||||||
Expiring 03/02/22 | The Toronto-Dominion Bank | EUR | 137 | 154,567 | 154,012 | 555 | — | ||||||
Expiring 04/19/22 | BNP Paribas S.A. | EUR | 2,395 | 2,727,386 | 2,696,078 | 31,308 | — | ||||||
Expiring 04/19/22 | Standard Chartered Bank | EUR | 2,746 | 3,156,390 | 3,091,458 | 64,932 | — | ||||||
Expiring 04/19/22 | UBS AG | EUR | 1,613 | 1,850,584 | 1,815,618 | 34,966 | — | ||||||
Indonesian Rupiah, | |||||||||||||
Expiring 03/16/22 | JPMorgan Chase Bank, N.A. | IDR | 1,526,380 | 105,029 | 106,147 | — | (1,118) | ||||||
Israeli Shekel, | |||||||||||||
Expiring 03/16/22 | Citibank, N.A. | ILS | 94 | 29,915 | 29,820 | 95 | — | ||||||
Japanese Yen, | |||||||||||||
Expiring 02/02/22 | Citibank, N.A. | JPY | 70,875 | 611,875 | 615,889 | — | (4,014) | ||||||
Expiring 03/02/22 | Morgan Stanley & Co. International PLC | JPY | 70,875 | 622,401 | 616,010 | 6,391 | — | ||||||
Mexican Peso, | |||||||||||||
Expiring 03/16/22 | Morgan Stanley & Co. International PLC | MXN | 737 | 33,970 | 35,462 | — | (1,492) | ||||||
Expiring 03/16/22 | Morgan Stanley & Co. International PLC | MXN | 737 | 34,004 | 35,461 | — | (1,457) | ||||||
New Zealand Dollar, | |||||||||||||
Expiring 04/19/22 | JPMorgan Chase Bank, N.A. | NZD | 55 | 37,300 | 36,221 | 1,079 | — | ||||||
South African Rand, | |||||||||||||
Expiring 03/16/22 | Barclays Bank PLC | ZAR | 678 | 42,367 | 43,852 | — | (1,485) | ||||||
Expiring 03/16/22 | JPMorgan Chase Bank, N.A. | ZAR | 1,231 | 76,531 | 79,574 | — | (3,043) | ||||||
Expiring 03/16/22 | The Toronto-Dominion Bank | ZAR | 468 | 29,025 | 30,272 | — | (1,247) | ||||||
Swedish Krona, | |||||||||||||
Expiring 04/19/22 | Morgan Stanley & Co. International PLC | SEK | 1,552 | 171,920 | 166,567 | 5,353 | — | ||||||
Swiss Franc, | |||||||||||||
Expiring 04/19/22 | Barclays Bank PLC | CHF | 241 | 262,251 | 260,953 | 1,298 | — | ||||||
$23,421,883 | $23,246,029 | 203,422 | (27,568) | ||||||||||
$208,844 | $(45,419) |
34
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Credit default swap agreements outstanding at January 31, 2022:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||
OTC Credit Default Swap Agreement on corporate and/or sovereign issues - Buy Protection(1): | ||||||||||||||||
Republic of France | 12/20/26 | 0.250%(Q) | 125 | $(359) | $(241) | $(118) | Barclays Bank PLC |
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at January 31, 2022(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2): | |||||||||||||||||
AT&T, Inc. | 03/20/22 | 1.000%(Q) | 100 | 0.288% | $215 | $86 | $129 | Credit Suisse International | |||||||||
DP World PLC | 12/20/24 | 1.000%(Q) | 100 | 0.665% | 1,074 | 271 | 803 | Barclays Bank PLC | |||||||||
Electricite de France S.A. | 12/20/22 | 1.000%(Q) | EUR | 100 | 0.240% | 902 | 819 | 83 | Goldman Sachs International | ||||||||
EQT Corp. | 06/20/22 | 5.000%(Q) | 40 | 1.441% | 789 | 553 | 236 | Credit Suisse International | |||||||||
General Electric Co. | 06/20/22 | 1.000%(Q) | 130 | 0.204% | 557 | 351 | 206 | Morgan Stanley & Co. International PLC | |||||||||
Generalitat de Catalunya | 12/20/25 | 1.000%(Q) | 100 | * | 1,098 | (742) | 1,840 | Deutsche Bank AG | |||||||||
Halliburton Co. | 12/20/26 | 1.000%(Q) | 50 | 0.772% | 594 | 468 | 126 | Goldman Sachs International | |||||||||
Hellenic Republic | 12/20/31 | 1.000%(Q) | 140 | 1.686% | (7,862) | (4,224) | (3,638) | Barclays Bank PLC | |||||||||
Hess Corp. | 06/20/22 | 1.000%(Q) | 440 | 0.336% | 1,659 | 1,108 | 551 | Goldman Sachs International | |||||||||
Kingdom of Spain | 06/20/25 | 1.000%(Q) | 1,000 | 0.235% | 26,804 | (6,242) | 33,046 | Bank of America, N.A. | |||||||||
Kingdom of Spain | 06/20/25 | 1.000%(Q) | 170 | 0.235% | 4,557 | (1,107) | 5,664 | Bank of America, N.A. | |||||||||
Kingdom of Spain | 06/20/25 | 1.000%(Q) | 15 | 0.235% | 402 | 133 | 269 | Barclays Bank PLC | |||||||||
Kingdom of Spain | 12/20/25 | 1.000%(Q) | 50 | 0.265% | 1,464 | 761 | 703 | JPMorgan Chase Bank, N.A. | |||||||||
Kingdom of Spain | 06/20/30 | 1.000%(Q) | 100 | 0.543% | 3,676 | (314) | 3,990 | Credit Suisse International | |||||||||
Republic of France | 12/20/26 | 0.250%(Q) | 125 | 0.196% | 359 | 937 | (578) | Barclays Bank PLC | |||||||||
Republic of Indonesia | 06/20/23 | 1.000%(Q) | 475 | 0.330% | 4,988 | (844) | 5,832 | Citibank, N.A. |
35
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Credit default swap agreements outstanding at January 31, 2022 (continued):
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at January 31, 2022(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont’d.): | |||||||||||||||||
Republic of Italy | 12/20/28 | 1.000%(Q) | 200 | 1.111% | $(1,176) | $(755) | $(421) | Barclays Bank PLC | |||||||||
Republic of Italy | 12/20/28 | 1.000%(Q) | 110 | 1.111% | (647) | (449) | (198) | Citibank, N.A. | |||||||||
Republic of Kazakhstan | 06/20/23 | 1.000%(Q) | 85 | 0.425% | 781 | — | 781 | Citibank, N.A. | |||||||||
Republic of Panama | 12/20/26 | 1.000%(Q) | 45 | 0.929% | 204 | 127 | 77 | Citibank, N.A. | |||||||||
Republic of Portugal | 12/20/23 | 1.000%(Q) | 50 | 0.136% | 877 | (10) | 887 | Morgan Stanley & Co. International PLC | |||||||||
Republic of South Africa | 12/20/23 | 1.000%(Q) | 300 | 1.053% | 62 | (6,081) | 6,143 | Bank of America, N.A. | |||||||||
Republic of Ukraine | 12/20/23 | 5.000%(Q) | 100 | 9.042% | (6,205) | 2,695 | (8,900) | Deutsche Bank AG | |||||||||
Republic of Ukraine | 12/20/24 | 5.000%(Q) | 100 | 8.680% | (8,330) | 4,575 | (12,905) | HSBC Bank PLC | |||||||||
Republic of Ukraine | 06/20/25 | 5.000%(Q) | 90 | 8.432% | (8,002) | (681) | (7,321) | Barclays Bank PLC | |||||||||
Russian Federation | 12/20/22 | 1.000%(Q) | 50 | 1.928% | (351) | (23) | (328) | Citibank, N.A. | |||||||||
Russian Federation | 06/20/23 | 1.000%(Q) | 150 | 2.015% | (1,905) | (797) | (1,108) | Morgan Stanley & Co. International PLC | |||||||||
Russian Federation | 06/20/23 | 1.000%(Q) | 100 | 2.015% | (1,270) | (445) | (825) | Morgan Stanley & Co. International PLC | |||||||||
Russian Federation | 06/20/23 | 1.000%(Q) | 50 | 2.015% | (636) | (262) | (374) | BNP Paribas S.A. | |||||||||
Teck Resources Ltd. | 06/20/26 | 5.000%(Q) | 150 | 1.209% | 24,685 | 24,694 | (9) | Barclays Bank PLC | |||||||||
Verizon Communications, Inc. | 06/20/26 | 1.000%(Q) | 170 | 0.635% | 2,836 | 3,127 | (291) | Goldman Sachs International | |||||||||
$42,199 | $17,729 | $24,470 |
36
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Credit default swap agreements outstanding at January 31, 2022 (continued):
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at January 31, 2022(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||
OTC Credit Default Swap Agreement on credit indices - Sell Protection(2): | |||||||||||||||||
CDX.NA.HY.BB.36.V1 | 06/20/26 | 5.000%(Q) | 100 | 2.106% | $12,305 | $13,494 | $(1,189) | Citibank, N.A. |
The Fund entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) | If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
* | When an implied credit spread is not available, reference the fair value of credit default swap agreements on credit indices and asset-backed securities. Where the Fund is the seller of protection, it serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit |
37
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
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. |
Currency swap agreements outstanding at January 31, 2022: | ||||||||||||||||||
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 Agreement: | ||||||||||||||||||
IDR | 1,400,000 | 8.22%(S) | 97 | 6 Month LIBOR(S) | Citibank, N.A. | 11/29/23 | $7,075 | $— | $7,075 |
Inflation swap agreements outstanding at January 31, 2022: | ||||||||||||||
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Inflation Swap Agreements: | ||||||||||||||
EUR | 200 | 05/15/23 | 1.485%(T) | France CPI ex Tobacco Household(1)(T) | $— | $2,393 | $2,393 | |||||||
EUR | 200 | 05/15/23 | 1.510%(T) | Eurostat Eurozone HICP ex Tobacco(2)(T) | — | (7,644) | (7,644) | |||||||
100 | 01/13/31 | 2.230%(T) | U.S. CPI Urban Consumers NSA Index(2)(T) | — | (9,864) | (9,864) | ||||||||
105 | 04/07/31 | 2.469%(T) | U.S. CPI Urban Consumers NSA Index(2)(T) | — | (7,456) | (7,456) | ||||||||
60 | 04/09/31 | 2.448%(T) | U.S. CPI Urban Consumers NSA Index(2)(T) | — | (4,390) | (4,390) | ||||||||
135 | 04/13/31 | 2.445%(T) | U.S. CPI Urban Consumers NSA Index(2)(T) | — | (9,892) | (9,892) | ||||||||
75 | 04/13/31 | 2.450%(T) | U.S. CPI Urban Consumers NSA Index(2)(T) | — | (5,455) | (5,455) | ||||||||
80 | 04/14/31 | 2.450%(T) | U.S. CPI Urban Consumers NSA Index(2)(T) | — | (5,808) | (5,808) | ||||||||
170 | 04/15/31 | 2.465%(T) | U.S. CPI Urban Consumers NSA Index(2)(T) | — | (12,058) | (12,058) | ||||||||
$— | $(60,174) | $(60,174) |
(1) | The Fund pays the fixed rate and receives the floating rate. |
(2) | The Fund pays the floating rate and receives the fixed rate. |
38
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2022
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements: | ||||||||||||||
AUD | 400 | 12/18/27 | 2.696%(S) | 6 Month BBSW(2)(S) | $— | $11,942 | $11,942 | |||||||
AUD | 100 | 11/27/28 | 2.847%(S) | 6 Month BBSW(2)(S) | (1) | 3,941 | 3,942 | |||||||
AUD | 230 | 12/03/29 | 2.700%(S) | 6 Month BBSW(2)(S) | 17,473 | 7,687 | (9,786) | |||||||
AUD | 1,100 | 02/19/31 | 1.398%(S) | 6 Month BBSW(2)(S) | (3,344) | (44,777) | (41,433) | |||||||
AUD | 242 | 12/08/31 | 1.993%(S) | 6 Month BBSW(2)(S) | — | (2,499) | (2,499) | |||||||
AUD | 300 | 12/14/31 | 1.896%(S) | 6 Month BBSW(2)(S) | — | (5,064) | (5,064) | |||||||
BRL | 287 | 01/02/25 | 6.540%(T) | 1 Day BROIS(2)(T) | — | (3,862) | (3,862) | |||||||
BRL | 1,638 | 01/02/25 | 6.670%(T) | 1 Day BROIS(2)(T) | — | (19,914) | (19,914) | |||||||
BRL | 306 | 01/02/25 | 8.690%(T) | 1 Day BROIS(2)(T) | — | 3,616 | 3,616 | |||||||
BRL | 569 | 01/02/25 | 9.943%(T) | 1 Day BROIS(2)(T) | — | 22,163 | 22,163 | |||||||
BRL | 609 | 01/02/25 | 11.080%(T) | 1 Day BROIS(2)(T) | — | 31,262 | 31,262 | |||||||
BRL | 98 | 01/02/25 | 12.090%(T) | 1 Day BROIS(2)(T) | — | 6,323 | 6,323 | |||||||
BRL | 1,220 | 01/04/27 | 6.493%(T) | 1 Day BROIS(2)(T) | — | (36,046) | (36,046) | |||||||
BRL | 661 | 01/04/27 | 6.820%(T) | 1 Day BROIS(2)(T) | — | (19,560) | (19,560) | |||||||
BRL | 1,909 | 01/02/29 | 7.250%(T) | 1 Day BROIS(2)(T) | — | (68,976) | (68,976) | |||||||
CAD | 255 | 05/08/22 | 1.367%(S) | 3 Month CDOR(2)(S) | (651) | 749 | 1,400 | |||||||
CAD | 1,230 | 04/03/25 | 0.970%(S) | 3 Month CDOR(2)(S) | (3,679) | (29,759) | (26,080) | |||||||
CAD | 80 | 12/03/28 | 2.600%(S) | 3 Month CDOR(2)(S) | 560 | 2,025 | 1,465 | |||||||
CAD | 50 | 01/09/38 | 2.720%(S) | 3 Month CDOR(2)(S) | (1) | 1,522 | 1,523 | |||||||
CAD | 120 | 12/03/40 | 2.800%(S) | 3 Month CDOR(2)(S) | 17,180 | 4,786 | (12,394) | |||||||
CAD | 50 | 05/30/47 | 2.240%(S) | 3 Month CDOR(2)(S) | (1,474) | (1,964) | (490) | |||||||
CHF | 70 | 04/03/22 | 0.000%(S) | 6 Month CHF LIBOR(2)(S) | (50) | 276 | 326 | |||||||
CHF | 70 | 04/03/22 | 0.000%(A) | 1 Day SARON(1)(S) | 95 | (265) | (360) | |||||||
CHF | 40 | 04/03/22 | 0.000%(A) | 1 Day SARON(1)(S) | 54 | (152) | (206) | |||||||
CHF | 40 | 04/03/22 | 0.000%(A) | 6 Month CHF LIBOR(2)(S) | (29) | 157 | 186 | |||||||
CHF | 70 | 04/03/28 | 0.410%(A) | 1 Day SARON(2)(S) | (287) | 1,542 | 1,829 |
39
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2022 (continued)
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
CHF | 130 | 01/31/29 | 0.260%(A) | 1 Day SARON(2)(S) | $(610) | $334 | $944 | |||||||
CHF | 40 | 04/03/33 | 0.687%(A) | 1 Day SARON(2)(S) | (246) | 1,642 | 1,888 | |||||||
CLP | 30,200 | 07/12/29 | 3.135%(S) | 1 Day CLOIS(2)(S) | — | (5,645) | (5,645) | |||||||
CLP | 91,000 | 11/22/29 | 3.203%(S) | 1 Day CLOIS(2)(S) | — | (17,113) | (17,113) | |||||||
CLP | 100,000 | 02/10/30 | 3.010%(S) | 1 Day CLOIS(2)(S) | — | (20,801) | (20,801) | |||||||
CLP | 150,000 | 04/09/31 | 3.390%(S) | 1 Day CLOIS(2)(S) | — | (29,418) | (29,418) | |||||||
CNH | 700 | 08/15/23 | 3.115%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (2) | 1,952 | 1,954 | |||||||
CNH | 700 | 03/13/24 | 2.945%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (1) | 2,065 | 2,066 | |||||||
CNH | 1,400 | 04/01/24 | 2.923%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | — | 4,008 | 4,008 | |||||||
CNH | 1,440 | 06/03/24 | 2.975%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | — | 4,785 | 4,785 | |||||||
CNH | 2,220 | 06/20/24 | 2.900%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (3) | 6,742 | 6,745 | |||||||
CNH | 1,500 | 09/03/24 | 2.860%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (1) | 4,658 | 4,659 | |||||||
CNH | 1,500 | 10/10/24 | 2.860%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (1) | 4,642 | 4,643 | |||||||
CNH | 1,680 | 11/01/24 | 3.120%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (5) | 7,500 | 7,505 | |||||||
CNH | 1,200 | 02/04/25 | 2.600%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | — | 2,691 | 2,691 | |||||||
CNH | 2,800 | 03/06/25 | 2.425%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (4) | 3,767 | 3,771 | |||||||
CNH | 5,000 | 03/12/25 | 2.400%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (2) | 6,167 | 6,169 | |||||||
CNH | 3,200 | 07/13/25 | 2.653%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (4) | 8,048 | 8,052 | |||||||
CNH | 5,910 | 11/02/25 | 2.588%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | 13 | 13,934 | 13,921 | |||||||
CNH | 5,280 | 04/12/26 | 2.810%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | (16) | 19,758 | 19,774 | |||||||
COP | 498,340 | 07/27/28 | 6.200%(Q) | 1 Day COOIS(2)(Q) | 10,777 | (5,594) | (16,371) | |||||||
COP | 3,100,000 | 04/09/31 | 5.245%(Q) | 1 Day COOIS(2)(Q) | — | (101,388) | (101,388) | |||||||
CZK | 5,145 | 03/31/30 | 0.710%(A) | 6 Month PRIBOR(2)(S) | — | (50,937) | (50,937) | |||||||
EUR | 5,485 | 11/23/24 | (0.046)%(A) | 6 Month EURIBOR(2)(S) | — | (29,308) | (29,308) | |||||||
EUR | 3,245 | 12/02/24 | (0.285)%(A) | 6 Month EURIBOR(2)(S) | — | (32,297) | (32,297) |
40
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2022 (continued)
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
EUR | 200 | 05/11/25 | 0.100%(A) | 1 Day EuroSTR(1)(A) | $692 | $(2,261) | $(2,953) | |||||||
EUR | 350 | 04/27/30 | (0.016)%(A) | 6 Month EURIBOR(2)(S) | — | (12,439) | (12,439) | |||||||
EUR | 342 | 08/15/30 | (0.191)%(A) | 1 Day EuroSTR(2)(A) | (157) | (12,356) | (12,199) | |||||||
EUR | 100 | 05/11/31 | 0.750%(A) | 1 Day EuroSTR(1)(A) | 683 | (6,546) | (7,229) | |||||||
EUR | 235 | 10/30/32 | 1.302%(A) | 6 Month EURIBOR(2)(S) | 4,837 | 24,170 | 19,333 | |||||||
EUR | 430 | 05/11/33 | 1.000%(A) | 6 Month EURIBOR(2)(S) | (8,567) | 30,756 | 39,323 | |||||||
EUR | 140 | 11/12/36 | 0.610%(A) | 6 Month EURIBOR(2)(S) | — | (1,701) | (1,701) | |||||||
EUR | 285 | 11/12/41 | 0.454%(A) | 6 Month EURIBOR(1)(S) | — | 3,343 | 3,343 | |||||||
EUR | 150 | 11/24/41 | 0.565%(A) | 6 Month EURIBOR(1)(S) | — | 3,524 | 3,524 | |||||||
EUR | 150 | 11/24/41 | 0.600%(A) | 3 Month EURIBOR(2)(Q) | — | (3,472) | (3,472) | |||||||
EUR | 364 | 11/25/41 | 0.629%(A) | 6 Month EURIBOR(1)(S) | — | 6,094 | 6,094 | |||||||
EUR | 364 | 11/25/41 | 0.663%(A) | 3 Month EURIBOR(2)(Q) | — | (6,027) | (6,027) | |||||||
EUR | 400 | 01/14/42 | 0.435%(A) | 1 Day EuroSTR(2)(A) | — | (2,684) | (2,684) | |||||||
EUR | 120 | 05/11/49 | 1.450%(A) | 6 Month EURIBOR(2)(S) | 5,747 | 33,170 | 27,423 | |||||||
EUR | 144 | 11/12/51 | (0.012)%(A) | 6 Month EURIBOR(2)(S) | — | (1,347) | (1,347) | |||||||
EUR | 132 | 11/10/61 | 0.015%(A) | 6 Month EURIBOR(1)(S) | — | 923 | 923 | |||||||
EUR | 131 | 11/10/71 | (0.049)%(A) | 6 Month EURIBOR(2)(S) | — | (875) | (875) | |||||||
GBP | 150 | 05/08/31 | 1.150%(A) | 1 Day SONIA(2)(A) | 7,351 | 144 | (7,207) | |||||||
GBP | 305 | 04/07/41 | 0.952%(A) | 1 Day SONIA(2)(A) | (10) | (10,720) | (10,710) | |||||||
GBP | 225 | 05/08/46 | 1.250%(A) | 1 Day SONIA(2)(A) | 49,871 | 11,715 | (38,156) | |||||||
GBP | 35 | 09/03/50 | 0.328%(A) | 1 Day SONIA(2)(A) | — | (8,514) | (8,514) | |||||||
HUF | 43,000 | 03/18/26 | 2.140%(A) | 6 Month BUBOR(2)(S) | 6,609 | (13,378) | (19,987) | |||||||
HUF | 90,865 | 06/12/28 | 3.750%(A) | 6 Month BUBOR(2)(S) | — | (14,020) | (14,020) | |||||||
HUF | 23,000 | 07/15/29 | 1.650%(A) | 6 Month BUBOR(2)(S) | — | (14,475) | (14,475) |
41
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2022 (continued)
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
HUF | 150,500 | 02/13/30 | 1.595%(A) | 6 Month BUBOR(2)(S) | $(26,002) | $(100,831) | $(74,829) | |||||||
ILS | 670 | 04/16/28 | 0.928%(A) | 3 Month TELBOR(2)(Q) | (9) | (3,062) | (3,053) | |||||||
JPY | 20,000 | 02/06/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (3) | 57 | 60 | |||||||
JPY | 20,000 | 02/06/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 18 | (22) | (40) | |||||||
JPY | 10,000 | 04/04/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (4) | 18 | 22 | |||||||
JPY | 10,000 | 04/04/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 21 | (10) | (31) | |||||||
JPY | 305,000 | 04/08/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (105) | 576 | 681 | |||||||
JPY | 305,000 | 04/08/22 | 0.000%(T) | 1 Day TONAR(1)(T) | 158 | (59) | (217) | |||||||
JPY | 163,000 | 05/12/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (34) | 387 | 421 | |||||||
JPY | 163,000 | 05/12/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 244 | (141) | (385) | |||||||
JPY | 11,780 | 06/03/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | — | 27 | 27 | |||||||
JPY | 21,500 | 06/03/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (1) | 49 | 50 | |||||||
JPY | 11,780 | 06/03/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 16 | (7) | (23) | |||||||
JPY | 21,500 | 06/03/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 29 | 1 | (28) | |||||||
JPY | 112,000 | 06/18/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (197) | 276 | 473 | |||||||
JPY | 203,200 | 06/18/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (421) | 524 | 945 | |||||||
JPY | 112,000 | 06/18/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 146 | (37) | (183) | |||||||
JPY | 203,200 | 06/18/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 265 | (68) | (333) | |||||||
JPY | 5,000 | 07/04/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (9) | 8 | 17 | |||||||
JPY | 57,555 | 07/04/22 | 0.000%(S) | 6 Month JPY LIBOR(2)(S) | (103) | 87 | 190 | |||||||
JPY | 5,000 | 07/04/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 7 | 2 | (5) | |||||||
JPY | 57,555 | 07/04/22 | 0.000%(A) | 1 Day TONAR(1)(A) | 76 | 16 | (60) | |||||||
JPY | 126,000 | 04/08/23 | (0.029)%(S) | 1 Day TONAR(2)(S) | 84 | (1,118) | (1,202) | |||||||
JPY | 179,000 | 04/08/26 | 0.018%(S) | 1 Day TONAR(2)(S) | 14 | (5,023) | (5,037) | |||||||
JPY | 59,000 | 12/18/27 | 0.290%(S) | 1 Day TONAR(2)(S) | (627) | 4,981 | 5,608 | |||||||
JPY | 163,000 | 11/12/28 | 0.011%(S) | 1 Day TONAR(2)(S) | 7 | (13,262) | (13,269) | |||||||
JPY | 60,000 | 07/08/32 | 0.050%(A) | 1 Day TONAR(2)(A) | (2,719) | (6,912) | (4,193) | |||||||
JPY | 53,000 | 12/18/32 | 0.516%(S) | 1 Day TONAR(2)(S) | (1,061) | 13,416 | 14,477 | |||||||
JPY | 111,500 | 12/18/37 | 0.715%(S) | 1 Day TONAR(2)(S) | (3,154) | 50,586 | 53,740 | |||||||
JPY | 57,555 | 01/04/38 | 0.757%(S) | 1 Day TONAR(2)(S) | (1,573) | 29,203 | 30,776 | |||||||
JPY | 11,780 | 12/03/38 | 0.600%(S) | 1 Day TONAR(2)(S) | (7) | 3,290 | 3,297 | |||||||
JPY | 10,000 | 10/04/39 | 0.203%(S) | 1 Day TONAR(2)(S) | (27) | (3,410) | (3,383) |
42
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2022 (continued)
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
JPY | 21,500 | 12/03/39 | 0.650%(S) | 1 Day TONAR(2)(S) | $(13) | $7,163 | $7,176 | |||||||
JPY | 20,000 | 02/06/40 | 0.223%(S) | 1 Day TONAR(2)(S) | (114) | (6,529) | (6,415) | |||||||
JPY | 5,000 | 07/04/43 | 0.763%(S) | 1 Day TONAR(2)(S) | (138) | 2,260 | 2,398 | |||||||
JPY | 91,700 | 12/18/47 | 0.918%(S) | 1 Day TONAR(2)(S) | (3,370) | 64,647 | 68,017 | |||||||
KRW | 209,000 | 09/10/28 | 2.043%(Q) | 3 Month KWCDC(2)(Q) | 7,516 | (1,916) | (9,432) | |||||||
KRW | 118,000 | 02/13/29 | 1.780%(Q) | 3 Month KWCDC(2)(Q) | — | (2,839) | (2,839) | |||||||
KRW | 33,500 | 04/17/29 | 1.740%(Q) | 3 Month KWCDC(2)(Q) | — | (933) | (933) | |||||||
KRW | 470,000 | 04/27/30 | 1.065%(Q) | 3 Month KWCDC(2)(Q) | (10,992) | (35,219) | (24,227) | |||||||
MXN | 3,630 | 03/19/26 | 6.050%(M) | 28 Day Mexican Interbank Rate(2)(M) | (8) | (9,052) | (9,044) | |||||||
MXN | 1,150 | 12/23/27 | 7.845%(M) | 28 Day Mexican Interbank Rate(2)(M) | — | 1,041 | 1,041 | |||||||
MXN | 8,515 | 02/27/29 | 8.260%(M) | 28 Day Mexican Interbank Rate(2)(M) | 24,228 | 18,384 | (5,844) | |||||||
NOK | 1,680 | 03/15/27 | 2.103%(A) | 6 Month NIBOR(2)(S) | 4,011 | 2,757 | (1,254) | |||||||
NOK | 5,500 | 11/05/29 | 1.863%(A) | 6 Month NIBOR(2)(S) | 5,109 | (11,830) | (16,939) | |||||||
NZD | 210 | 11/28/28 | 2.950%(S) | 3 Month BBR(2)(Q) | — | 1,710 | 1,710 | |||||||
NZD | 100 | 07/22/29 | 1.768%(S) | 3 Month BBR(2)(Q) | — | (4,662) | (4,662) | |||||||
NZD | 100 | 11/05/29 | 1.393%(S) | 3 Month BBR(2)(Q) | — | (6,474) | (6,474) | |||||||
NZD | 540 | 03/01/31 | 2.098%(S) | 3 Month BBR(2)(Q) | 7,191 | (18,197) | (25,388) | |||||||
PLN | 1,030 | 08/24/23 | 2.390%(A) | 6 Month WIBOR(2)(S) | — | (4,964) | (4,964) | |||||||
PLN | 2,100 | 09/09/23 | 1.900%(A) | 6 Month WIBOR(2)(S) | (8,634) | (15,599) | (6,965) | |||||||
PLN | 850 | 11/13/23 | 2.570%(A) | 6 Month WIBOR(2)(S) | — | (5,697) | (5,697) | |||||||
PLN | 1,120 | 06/21/24 | 1.750%(A) | 6 Month WIBOR(2)(S) | — | (13,704) | (13,704) | |||||||
PLN | 1,665 | 07/11/28 | 2.935%(A) | 6 Month WIBOR(2)(S) | 35,804 | (20,817) | (56,621) |
43
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2022 (continued)
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
PLN | 760 | 08/30/31 | 1.765%(A) | 6 Month WIBOR(2)(S) | $— | $(31,666) | $(31,666) | |||||||
SEK | 2,000 | 04/25/23 | 0.750%(A) | 3 Month STIBOR(2)(Q) | 1,442 | 2,798 | 1,356 | |||||||
SEK | 2,325 | 06/22/27 | 1.031%(A) | 3 Month STIBOR(2)(Q) | (245) | 2,721 | 2,966 | |||||||
SEK | 410 | 07/12/29 | 0.585%(A) | 3 Month STIBOR(2)(Q) | — | (1,364) | (1,364) | |||||||
SEK | 4,555 | 11/05/29 | 0.457%(A) | 3 Month STIBOR(2)(Q) | (6,230) | (22,039) | (15,809) | |||||||
SGD | 165 | 07/29/31 | 1.120%(S) | 1 Day SORA(2)(S) | 1,096 | (8,076) | (9,172) | |||||||
THB | 3,000 | 07/03/30 | 1.028%(S) | 6 Month THBFIX(2)(S) | — | (4,654) | (4,654) | |||||||
990 | 03/10/22 | 0.330%(A) | 1 Day USOIS(1)(A) | — | (2,505) | (2,505) | ||||||||
2,000 | 08/31/22 | 2.550%(A) | 1 Day USOIS(1)(A) | — | (44,983) | (44,983) | ||||||||
2,180 | 11/09/22 | 0.061%(A) | 1 Day SOFR(1)(A) | — | 9,242 | 9,242 | ||||||||
1,450 | 10/30/23 | 0.072%(A) | 1 Day USOIS(1)(A) | — | 26,003 | 26,003 | ||||||||
1,770 | 11/02/23 | 0.070%(A) | 1 Day USOIS(1)(A) | — | 32,056 | 32,056 | ||||||||
1,795 | 11/06/23 | 0.063%(A) | 1 Day USOIS(1)(A) | — | 33,047 | 33,047 | ||||||||
1,595 | 11/09/23 | 0.064%(A) | 1 Day USOIS(1)(A) | — | 29,536 | 29,536 | ||||||||
473 | 05/31/24 | 1.350%(A) | 1 Day USOIS(1)(A) | — | (5,293) | (5,293) | ||||||||
493 | 08/15/28 | 1.220%(A) | 1 Day SOFR(1)(A) | — | 8,679 | 8,679 | ||||||||
ZAR | 8,270 | 03/13/24 | 7.500%(Q) | 3 Month JIBAR(1)(Q) | 3 | (22,791) | (22,794) | |||||||
ZAR | 3,700 | 11/07/27 | 8.360%(Q) | 3 Month JIBAR(2)(Q) | 2,639 | 19,309 | 16,670 | |||||||
ZAR | 3,200 | 07/16/28 | 8.170%(Q) | 3 Month JIBAR(2)(Q) | (36) | 12,390 | 12,426 | |||||||
ZAR | 2,460 | 03/13/29 | 8.055%(Q) | 3 Month JIBAR(2)(Q) | (8) | 8,491 | 8,499 | |||||||
ZAR | 5,000 | 11/01/29 | 7.820%(Q) | 3 Month JIBAR(2)(Q) | (29) | 12,708 | 12,737 | |||||||
ZAR | 10,915 | 09/15/30 | 6.940%(Q) | 3 Month JIBAR(2)(Q) | (14,380) | (22,545) | (8,165) | |||||||
ZAR | 3,350 | 10/07/31 | 7.670%(Q) | 3 Month JIBAR(2)(Q) | (23) | 712 | 735 | |||||||
$112,645 | $(390,783) | $(503,428) |
44
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2022 (continued)
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Fair Value | Upfront Premiums Paid(Received) | Unrealized Appreciation (Depreciation) | Counterparty | ||||||||
OTC Interest Rate Swap Agreements: | |||||||||||||||
CLP | 95,000 | 12/20/27 | 4.260%(S) | 1 Day CLOIS(2)(S) | $(7,793) | $— | $(7,793) | JPMorgan Chase Bank, N.A. | |||||||
CLP | 100,000 | 05/17/28 | 4.270%(S) | 1 Day CLOIS(2)(S) | (8,447) | — | (8,447) | Citibank, N.A. | |||||||
CNH | 3,000 | 10/14/31 | 2.675%(Q) | 7 Day China Fixing Repo Rates(2)(Q) | 10,312 | — | 10,312 | Standard Chartered Bank | |||||||
COP | 503,000 | 08/03/28 | 6.160%(Q) | 1 Day COOIS(2)(Q) | (4,886) | — | (4,886) | JPMorgan Chase Bank, N.A. | |||||||
COP | 453,700 | 07/12/29 | 5.165%(Q) | 1 Day COOIS(2)(Q) | (12,722) | — | (12,722) | Morgan Stanley & Co. International PLC | |||||||
ILS | 410 | 07/13/27 | 0.395%(A) | 3 Month TELBOR(2)(Q) | (5,430) | — | (5,430) | Goldman Sachs International | |||||||
ILS | 550 | 04/26/28 | 1.915%(A) | 3 Month TELBOR(2)(Q) | 9,006 | — | 9,006 | BNP Paribas S.A. | |||||||
ILS | 510 | 07/16/28 | 2.045%(A) | 3 Month TELBOR(2)(Q) | 9,123 | — | 9,123 | JPMorgan Chase Bank, N.A. | |||||||
ILS | 270 | 07/12/29 | 1.411%(A) | 3 Month TELBOR(2)(Q) | 887 | — | 887 | Citibank, N.A. | |||||||
ILS | 450 | 04/24/30 | 0.710%(A) | 3 Month TELBOR(2)(Q) | (7,048) | (4) | (7,044) | Goldman Sachs International | |||||||
MYR | 450 | 04/09/26 | 2.625%(Q) | 3 Month KLIBOR(2)(Q) | (1,806) | (8) | (1,798) | Morgan Stanley & Co. International PLC | |||||||
MYR | 900 | 08/12/26 | 2.605%(Q) | 3 Month KLIBOR(2)(Q) | (4,240) | (14) | (4,226) | HSBC Bank PLC | |||||||
MYR | 200 | 07/11/29 | 3.528%(Q) | 3 Month KLIBOR(2)(Q) | 593 | — | 593 | Morgan Stanley & Co. International PLC | |||||||
RUB | 15,000 | 01/12/26 | 6.360%(A) | 3 Month MosPRIME(2)(Q) | (15,160) | — | (15,160) | Morgan Stanley & Co. International PLC | |||||||
RUB | 16,000 | 02/27/26 | 6.680%(A) | 3 Month MosPRIME(2)(Q) | (13,926) | — | (13,926) | Morgan Stanley & Co. International PLC | |||||||
THB | 6,000 | 07/04/24 | 1.590%(S) | 6 Month THBFIX(2)(S) | 3,328 | — | 3,328 | Morgan Stanley & Co. International PLC | |||||||
THB | 1,000 | 05/07/25 | 0.795%(S) | 6 Month THBFIX(2)(S) | (176) | — | (176) | HSBC Bank PLC | |||||||
$(48,385) | $(26) | $(48,359) |
(1) | The Fund pays the fixed rate and receives the floating rate. |
(2) | The Fund pays the floating rate and receives the fixed rate. |
45
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of January 31, 2022 (unaudited) (continued)
Total return swap agreements outstanding at January 31, 2022: | ||||||||||||||
Reference Entity | Financing Rate | Counterparty | Termination Date | Long (Short) Notional Amount (000)#(1) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation)(2) | |||||||
OTC Total Return Swap Agreement: | ||||||||||||||
U.S. Treasury Bonds(T) | 1 Day USOIS + 4.5 bps(T) | Goldman Sachs International | 2/03/22 | 595 | $(19,308) | $— | $(19,308) |
(1) | On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate. |
(2) | Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation). |
Other information regarding the Fund is available in the Funds’ most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
46