PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 99.7% | |||||
Municipal Bonds | |||||
Alabama 0.2% | |||||
Jefferson Cnty. Sewer Rev., | |||||
Sr. Lien, Warrants, Ser. A, AGM, Rfdg. | 5.000 % | 10/01/44 | 500 | $567,325 | |
Sr. Lien, Warrants, Ser. A, AGM, Rfdg. | 5.250 | 10/01/48 | 500 | 571,055 | |
Selma Indl. Dev. Brd. Rev., Gulf Opp. Zone, Intl. Paper Co., Ser. A | 5.800 | 05/01/34 | 1,000 | 1,009,690 | |
2,148,070 | |||||
Alaska 0.4% | |||||
Alaska Indl. Dev. & Export Auth. Rev., Tanana Chiefs Conference Proj., Ser. A | 4.000 | 10/01/49 | 3,980 | 4,370,319 | |
Arizona 3.7% | |||||
Arizona Indl. Dev. Auth. Rev., | |||||
Basis Schs. Proj., Ser. A, Rfdg., 144A | 5.375 | 07/01/50 | 1,000 | 1,112,850 | |
Pinecrest Academy-Horizon Inspirada & St. Rose Campus, Ser. A, 144A | 5.750 | 07/15/48 | 1,500 | 1,700,865 | |
Maricopa Cnty. Indl. Dev. Auth. Rev., | |||||
Horizon Cmnty. Learning Ctr., Rfdg. | 5.000 | 07/01/35 | 2,000 | 2,182,340 | |
Reid Traditional Schs. Projs. | 5.000 | 07/01/47 | 1,000 | 1,107,940 | |
Phoenix City Indl. Dev. Auth. Rev., | |||||
Basis Schs. Projs., Rfdg., 144A | 5.000 | 07/01/45 | 1,000 | 1,077,450 | |
Basis Schs. Projs., Ser. A, Rfdg., 144A | 5.000 | 07/01/46 | 1,000 | 1,071,490 | |
Great Hearts Academies Proj. | 5.000 | 07/01/44 | 2,250 | 2,451,150 | |
Pima Cnty. Indl. Dev. Auth. Rev., Tucson Elec. Pwr. Co. Proj., Rfdg. | 4.000 | 09/01/29 | 3,000 | 3,244,800 | |
Salt Verde Fin. Corp. Gas Rev., | |||||
Sr. Bonds | 5.000 | 12/01/32 | 4,890 | 6,451,328 | |
Sr. Bonds | 5.000 | 12/01/37 | 9,705 | 13,399,402 | |
Tempe Indl. Dev. Auth. Rev., | |||||
Friendship Vlg. | 5.000 | 12/01/50 | 1,045 | 1,163,263 | |
Friendship Vlg., Ser. A, Rfdg. | 6.250 | 12/01/42 | 1,000 | 1,051,580 | |
36,014,458 | |||||
California 7.7% | |||||
ABAG Fin. Auth. for Nonprofit Corp. Rev., Episcopal Sr. Cmnty., Rfdg. | 6.125 | 07/01/41 | 775 | 824,151 | |
California Cnty. Tob. Secur. Agcy. Rev., | |||||
Conv., CABS | 5.250(cc) | 06/01/21 | 1,770 | 1,772,885 | |
Conv., CABS | 5.450(cc) | 06/01/28 | 4,500 | 4,548,555 |
1
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
California (cont’d.) | |||||
California Cnty. Tob. Secur. Agcy. Rev., (cont’d.) | |||||
Conv., CABS, Ser. B, Rfdg. | 5.100 %(cc) | 06/01/28 | 1,435 | $1,435,603 | |
California Hlth. Facs. Fing. Auth. Rev., Stanford Hosp., Ser. A-3, Rfdg. (Pre-refunded 11/15/21)(ee) | 5.500 | 11/15/40 | 750 | 811,635 | |
California Mun. Fin. Auth. Rev., | |||||
CHF-Davis I, LLC, W. Village Student Housing Proj. | 5.000 | 05/15/51 | 1,000 | 1,200,240 | |
River Chrt. Schs., Ser. A, 144A | 5.500 | 06/01/48 | 750 | 849,300 | |
Sr. Lien, LINXS APM Proj., Ser. A, AMT | 5.000 | 12/31/47 | 1,250 | 1,494,338 | |
California Poll. Ctrl. Fing. Auth. Rev., | |||||
Green Bond, Calplant I Proj., AMT, 144A | 8.000 | 07/01/39 | 2,750 | 2,676,520 | |
Wtr. Facs., Amer. Wtr. Cap. Corp. Proj., 144A | 5.250 | 08/01/40 | 500 | 508,955 | |
California St. Pub. Wks. Brd. Lease Rev., Judicial Council Proj., Ser. D | 5.000 | 12/01/31 | 1,000 | 1,074,800 | |
California St. Sch. Fin. Auth. Chrt. Sch. Rev., | |||||
Alliance Clg.-Ready Pub. Schs., Ser. A, 144A | 5.000 | 07/01/45 | 750 | 846,450 | |
Kipp LA Proj., Ser. A, 144A | 5.000 | 07/01/45 | 650 | 747,318 | |
Kipp LA Proj., Ser. A, 144A | 5.000 | 07/01/47 | 820 | 962,508 | |
California Statewide Cmntys. Dev. Auth. Rev., | |||||
899 Charleston Proj., Ser. A, Rfdg., 144A | 5.250 | 11/01/44 | 750 | 829,815 | |
Cottage Hlth. Oblig. Grp., Rfdg. | 5.000 | 11/01/40 | 2,000 | 2,057,160 | |
Loma Linda Univ. Med. Ctr., Ser. A, 144A | 5.250 | 12/01/43 | 4,475 | 5,332,320 | |
Loma Linda Univ. Med. Ctr., Ser. A, 144A | 5.250 | 12/01/56 | 3,500 | 4,012,190 | |
Loma Linda Univ. Med. Ctr., Ser. A, 144A | 5.500 | 12/01/58 | 3,000 | 3,589,830 | |
Loma Linda Univ. Med. Ctr., Ser. A, Rfdg. | 5.250 | 12/01/44 | 1,000 | 1,119,000 | |
California Tob. Secur. Auth. Rev., | |||||
Rfdg. | 4.885(t) | 06/01/54 | 3,000 | 479,400 | |
Rfdg. | 5.000 | 06/01/48 | 1,500 | 1,792,650 | |
Fontana Spl. Tax Cmnty. Facs., Dist. 22, Sierra Hills, Rfdg. | 5.000 | 09/01/34 | 500 | 559,630 | |
Golden St. Tob. Secur. Corp., Tob. Settlement Rev., | |||||
Asset Bkd., 1st Sub., Ser. B, CABS, Rfdg. | 6.349(t) | 06/01/47 | 10,000 | 1,811,300 | |
Asset Bkd., Sr., Ser. A-2, CABS, Rfdg. | 5.300(cc) | 06/01/37 | 5,000 | 5,302,000 | |
Ser. A-1, Rfdg. | 5.000 | 06/01/47 | 1,025 | 1,077,931 | |
Ser. A-1, Rfdg. | 5.250 | 06/01/47 | 4,000 | 4,231,520 | |
Ser. A-2, Rfdg. | 5.000 | 06/01/47 | 1,500 | 1,577,460 | |
Inland Valley Dev. Agcy. Tax Alloc., Ser. A, Rfdg. | 5.000 | 09/01/44 | 1,000 | 1,128,330 | |
Lincoln Pub. Fing. Auth. Spl. Assmt., Twelve Bridges, Sub., Ser. B, Rfdg. | 6.000 | 09/02/27 | 1,000 | 1,073,030 | |
Long Beach Bond Fin. Auth. Nat. Gas Pur. Rev., | |||||
Ser. A | 5.000 | 11/15/35 | 3,510 | 4,791,641 |
2
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
California (cont’d.) | |||||
Long Beach Bond Fin. Auth. Nat. Gas Pur. Rev., (cont’d.) | |||||
Ser. A | 5.500 % | 11/15/37 | 685 | $1,003,888 | |
M-S-R Energy Auth. Calif. Rev., | |||||
Ser. A | 6.500 | 11/01/39 | 2,060 | 3,335,552 | |
Ser. A | 7.000 | 11/01/34 | 1,650 | 2,570,287 | |
Palomar Pomerado Healthcare Dist. Calif., COP (Pre-refunded 11/01/20)(ee) | 6.000 | 11/01/41 | 1,800 | 1,868,526 | |
Port of Oakland Rev., Ser. O, AMT, Rfdg. | 5.125 | 05/01/31 | 1,000 | 1,046,750 | |
Riverside Cnty. Pub. Fing. Auth. Rev., Capital Facs. Proj. | 5.250 | 11/01/45 | 1,000 | 1,212,450 | |
San Buenaventura Rev., | |||||
Cmnty. Mem. Hlth. Sys. | 7.500 | 12/01/41 | 1,000 | 1,098,500 | |
Cmnty. Mem. Hlth. Sys. | 8.000 | 12/01/26 | 500 | 562,275 | |
San Francisco City & Cnty. Arpt. Comm. Rev., | |||||
Second Ser. C, AMT, Rfdg. (Pre-refunded 05/01/21)(ee) | 5.000 | 05/01/25 | 5 | 5,232 | |
Second Ser. C, AMT, unrefunded, Rfdg. | 5.000 | 05/01/25 | 995 | 1,044,282 | |
Santa Margarita Wtr. Dist. Spl. Tax Cmty. Facs., Ser. 2013-1, Vlg. of Sendero | 5.625 | 09/01/36 | 645 | 730,637 | |
74,996,844 | |||||
Colorado 2.9% | |||||
City & Cnty. of Denver Arpt. Sys. Rev., Sub. Sys., Ser. A, AMT, Rfdg. | 4.000 | 12/01/48 | 2,000 | 2,237,540 | |
City & Cnty. of Denver Rev., United Airlines Inc. Proj., AMT, Rfdg. | 5.000 | 10/01/32 | 500 | 550,215 | |
Colorado Edl. & Cultural Facs. Auth. Rev., | |||||
Impt., Chrt. Sch. Skyview Academy Proj., Rfdg., 144A | 5.375 | 07/01/44 | 1,350 | 1,449,806 | |
Impt., Chrt. Sch. Univ. LA, Rfdg. | 5.000 | 12/15/45 | 1,000 | 1,107,630 | |
Lighthouse Bldg. Corp., Rfdg. | 5.000 | 11/01/44 | 885 | 971,880 | |
Windsor Chrt. Sch., Rfdg., 144A | 5.000 | 09/01/46 | 1,390 | 1,412,059 | |
Colorado Hlth. Facs. Auth. Rev., | |||||
Christian Living Cmntys. Proj., Rfdg. | 5.250 | 01/01/37 | 550 | 581,840 | |
Commonspirit Hlth., Ser. A, Rfdg. | 4.000 | 08/01/49 | 5,000 | 5,548,300 | |
Covenant Retirement Cmntys., Rfdg. | 5.000 | 12/01/35 | 1,250 | 1,439,650 | |
Vail Valley Med. Ctr. Proj. | 4.000 | 01/15/45 | 2,500 | 2,697,025 | |
E-470 Pub. Hwy. Auth. Rev., Ser. C, Rfdg. | 5.375 | 09/01/26 | 1,000 | 1,025,070 | |
Park Creek Met. Dist. Ltd. Ppty. Tax Alloc. Rev., Sr. Lmt. Prop. TA., Rfdg. | 5.000 | 12/01/45 | 1,500 | 1,722,345 |
3
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Colorado (cont’d.) | |||||
Plaza Co. Met. Dist. 1 Tax Alloc., Rfdg., 144A | 5.000 % | 12/01/40 | 1,000 | $1,047,130 | |
Pub. Auth. Energy Nat. Gas Pur. Rev., | 6.500 | 11/15/38 | 4,045 | 6,301,948 | |
28,092,438 | |||||
Connecticut 0.5% | |||||
Connecticut St. Hlth. & Edl. Facs. Auth. Rev., | |||||
Nuvance Hlth. Iss. Ser. A, Rfdg. | 4.000 | 07/01/49 | 1,000 | 1,113,650 | |
Western Conn. Hlth., Ser. M (Pre-refunded 07/01/21)(ee) | 5.375 | 07/01/41 | 1,250 | 1,328,363 | |
Harbor Point Infrastructure Impt. Dist. Spl. Assmt., Harbor Point Proj. Rfdg., 144A | 5.000 | 04/01/39 | 2,000 | 2,318,460 | |
4,760,473 | |||||
Delaware 0.3% | |||||
Delaware St. Econ. Dev. Auth. Rev., | |||||
Chrt. Sch.-Aspira Chrt., Ser. A | 5.000 | 06/01/36 | 1,000 | 1,123,860 | |
Newark Chrt. Sch., Inc., Ser. A, Rfdg. | 5.000 | 09/01/46 | 500 | 569,210 | |
Delaware St. Hlth. Facs. Auth. Rev., Nanticoke Mem. Hosp., Rfdg. | 5.000 | 07/01/32 | 1,375 | 1,534,555 | |
3,227,625 | |||||
District of Columbia 1.7% | |||||
Dist. of Columbia, Rev., | |||||
Dist. of Columbia Intl., Oblig. Grp. | 5.000 | 07/01/54 | 1,000 | 1,183,130 | |
Friendship Pub. Chrt. Sch. | 5.000 | 06/01/42 | 3,500 | 3,771,950 | |
Gallaudet Univ. | 5.500 | 04/01/34 | 400 | 420,524 | |
Kipp Chrt. Sch., Rfdg. (Pre-refunded 07/01/23)(ee) | 6.000 | 07/01/43 | 850 | 993,548 | |
Kipp Chrt. Sch., Rfdg. (Pre-refunded 07/01/23)(ee) | 6.000 | 07/01/48 | 725 | 847,438 | |
Kipp DC Iss. Ser. A, Rfdg. | 5.000 | 07/01/48 | 1,250 | 1,465,612 | |
Kipp DC Proj. | 4.000 | 07/01/49 | 1,000 | 1,098,660 | |
Rocketship DC, Oblig. Grp., Ser. A, 144A | 5.000 | 06/01/49 | 2,000 | 2,179,780 | |
Metropolitan Washington D.C. Arpt. Auth. Sys. Rev., | |||||
Dulles Toll Rd., Ser. A, Rfdg. | 5.000 | 10/01/53 | 2,500 | 2,670,050 | |
Sub., Ser. B, Dulles Toll Rd., Rfdg. | 4.000 | 10/01/53 | 2,000 | 2,265,880 | |
16,896,572 |
4
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Florida 9.2% | |||||
Boggy Creek Impt. Dist. Spl. Assmt., Ser. 2013, Rfdg. | 5.125 % | 05/01/43 | 2,620 | $2,727,734 | |
Broward Cnty. Port Facs. Rev., Sr. Bond, Ser. B, AMT | 4.000 | 09/01/49 | 2,000 | 2,230,840 | |
Broward Cnty. Sys. Arpt. Rev., | |||||
Ser. A, AMT | 4.000 | 10/01/49 | 1,500 | 1,691,310 | |
Ser. A, AMT, (Pre-refunded 10/01/23)(ee) | 5.250 | 10/01/43 | 1,500 | 1,721,400 | |
Capital Tr. Agcy. Rev., Air Cargo, Aero Miami FX LLC, Sr. Lien, Ser. A, Rfdg. | 5.350 | 07/01/29 | 1,795 | 1,823,379 | |
Celebration Pointe CDD 1 Spl. Assmt., Alachua Cnty., 144A | 5.000 | 05/01/48 | 1,000 | 1,068,240 | |
Citizens Ppty. Ins. Corp. Rev., Sr. Sec’d., Ser. A-1 | 5.000 | 06/01/22 | 1,000 | 1,092,670 | |
Cityplace CDD Spl. Assmt., Rfdg. | 5.000 | 05/01/26 | 1,000 | 1,137,600 | |
Davie Edl. Facs. Rev., | |||||
Nova Southeastern Univ. Proj., Ser. A | 5.625 | 04/01/43 | 500 | 558,540 | |
Nova Southeastern Univ. Proj., Ser. A | 6.000 | 04/01/42 | 1,000 | 1,129,860 | |
Escambia Cnty. Hlth. Facs. Auth. Rev., Healthcare Facs. Rev. Bond, Rfdg. | 4.000 | 08/15/50 | 2,000 | 2,222,140 | |
Florida Dev. Fin. Corp. Rev., | |||||
Bay Area Chrt. Fndtn., Ser. A | 7.750 | 06/15/42 | 2,000 | 2,135,160 | |
Renaissance Chrt. Sch., Ser. A | 6.000 | 09/15/40 | 1,750 | 1,781,482 | |
Virgin Trains USA Pass, Ser. A, AMT, Rfdg. (Mandatory put date 01/01/29), 144A | 6.500(cc) | 01/01/49 | 5,000 | 5,008,250 | |
Florida Higher Edl. Facs. Fin. Auth. Rev., Ringling Clg. Proj. | 5.000 | 03/01/47 | 2,500 | 2,912,650 | |
Greater Orlando Aviation Auth. Orlando Arpt. Facs. Rev., | |||||
Priority, Sub-Ser. A, AMT | 4.000 | 10/01/52 | 3,350 | 3,693,140 | |
Spl. Purp. - JetBlue Airways Corp. Proj., Rfdg. | 5.000 | 11/15/26 | 500 | 536,210 | |
Spl. Purp. - JetBlue Airways Corp. Proj., Rfdg. | 5.000 | 11/15/36 | 4,700 | 5,000,753 | |
Indigo Cmnty. Dev. Dist., Spl. Assmt.^ | 5.750 | 05/01/36(d) | 820 | 483,800 | |
Lakewood Ranch Stewardship Dist. Spl. Assmt., | |||||
Lakewood Centre North Proj. | 4.875 | 05/01/45 | 1,000 | 1,070,290 | |
Lakewood Nat’l. & Polo Run Projs. | 4.625 | 05/01/27 | 500 | 538,125 | |
Lakewood Nat’l. & Polo Run Projs. | 5.375 | 05/01/47 | 1,000 | 1,099,020 | |
Lakewood Ranch Azario Proj. | 4.000 | 05/01/50 | 1,000 | 1,012,180 | |
N E sector Proj., Phase 1B, 144A | 5.450 | 05/01/48 | 1,000 | 1,126,130 | |
Vlg. Lakewood Ranch S. Proj. | 4.250 | 05/01/26 | 250 | 264,035 | |
Vlg. Lakewood Ranch S. Proj. | 5.125 | 05/01/46 | 1,400 | 1,506,666 |
5
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Florida (cont’d.) | |||||
Martin Cnty. Indl. Dev. Auth. Rev., | |||||
Indiantown Cogeneration Proj., Rfdg., 144A | 3.950 % | 12/15/21 | 1,750 | $1,765,995 | |
Indiantown Cogeneration Proj., Rfdg., 144A | 4.200 | 12/15/25 | 1,000 | 1,009,790 | |
Midtown Miami Cmnty. Dev. Dist. Spl. Assmt., Pkg. Garage Proj., Ser. A, Rfdg. | 5.000 | 05/01/37 | 1,980 | 2,095,691 | |
North Sumter Cnty. Util. Dependent Dist., | |||||
Solid Wste. Rev. | 5.000 | 10/01/42 | 2,000 | 2,168,800 | |
Util. Rev. | 5.750 | 10/01/43 | 1,500 | 1,543,800 | |
Orange Cnty. Hlth. Facs. Auth. Rev., Orlando Hlth. Oblig. Grp., Ser. A | 4.000 | 10/01/49 | 3,450 | 3,855,582 | |
Osceola Cnty., FL, Transn. Rev., | |||||
Ser. A-1, Rfdg. | 4.000 | 10/01/54 | 1,500 | 1,679,880 | |
Ser. A-2, CABS, Rfdg. | 3.223(t) | 10/01/54 | 1,000 | 296,430 | |
Palm Beach Cnty. Hlth. Facs. Auth. Rev., | |||||
Baptist Hlth. South Florida, Rfdg. | 4.000 | 08/15/49 | 1,500 | 1,696,665 | |
BRRH Corp. Oblig. Grp., Rfdg. (Pre-refunded 12/01/24)(ee) | 5.000 | 12/01/31 | 500 | 595,525 | |
Sinai Residences Boca Raton Proj., Ser. A, Rfdg. | 7.500 | 06/01/49 | 1,000 | 1,113,880 | |
Pinellas Cnty. Indl. Dev. Auth. Rev., 2017 Fndtn., Global Understanding, Inc., Proj. | 5.000 | 07/01/39 | 1,000 | 1,163,280 | |
Sarasota Cnty. Pub. Hosp. Dist. Rev., Sarasota Mem. Hosp. | 4.000 | 07/01/48 | 5,000 | 5,571,600 | |
South Lake Cnty. Hosp. Dist. Rev., South Lake Hosp., Rfdg. (Pre-refunded 04/01/20)(ee) | 5.250 | 10/01/34 | 1,250 | 1,258,600 | |
South Miami Hlth. Facs. Auth. Rev., Baptist Hlth. South Florida, Rfdg. | 5.000 | 08/15/47 | 1,000 | 1,192,830 | |
Tallahassee Hlth. Facs. Mem. Rev., Ser. A | 5.000 | 12/01/55 | 1,430 | 1,635,248 | |
Village CDD No. 7, Fla. Spl. Assmt., Rfdg. | 4.000 | 05/01/36 | 1,880 | 1,989,642 | |
Village CDD No. 8, Fla. Spl. Assmt., Phase II, Rfdg. | 6.125 | 05/01/39 | 2,040 | 2,056,034 | |
Village CDD No. 9, | |||||
Fla. Spl. Assmt. | 7.000 | 05/01/41 | 735 | 775,712 | |
Fla. Spl. Assmt., Rfdg. | 5.500 | 05/01/42 | 2,035 | 2,168,130 | |
Village CDD No.10, | |||||
Fla. Spl. Assmt. | 5.125 | 05/01/43 | 1,070 | 1,144,055 | |
Fla. Spl. Assmt. | 6.000 | 05/01/44 | 900 | 987,813 | |
Village CDD No.11, Fla. Spl. Assmt. | 4.500 | 05/01/45 | 1,380 | 1,449,925 | |
Village CDD No.12, Fla. Spl. Assmt., 144A | 4.250 | 05/01/43 | 2,890 | 3,182,179 |
6
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Florida (cont’d.) | |||||
Village CDD No.13, | |||||
Fla. Spl. Assmt., 144A | 3.550 % | 05/01/39 | 500 | $515,665 | |
Fla. Spl. Assmt., 144A | 3.700 | 05/01/50 | 1,000 | 1,036,900 | |
89,521,255 | |||||
Georgia 1.0% | |||||
Atlanta Arpt. Rev., Gen., Ser. B, AMT, Rfdg. | 5.000 | 01/01/30 | 500 | 517,300 | |
Atlanta Dev. Auth. Rev., GA Proton Treatment Ctr., Ser. A-1 | 6.000 | 01/01/23 | 1,700 | 1,740,018 | |
Burke Cnty. Dev. Auth. Rev., Oglethorpe Pwr. Corp.-Vogtle Proj., Ser. D, Rfdg. | 4.125 | 11/01/45 | 2,000 | 2,188,520 | |
Clayton Cnty. Dev. Auth. Spl. Facs. Rev., Delta Air Lines, Ser. A, Rfdg. | 8.750 | 06/01/29 | 2,000 | 2,046,960 | |
Henry Cnty. Wtr. & Swr. Auth. Rev., AMBAC | 6.150 | 02/01/20 | 385 | 385,000 | |
Priv. Colleges & Univs. Auth. Rev., Savannah Clg. Art & Design Proj. | 5.000 | 04/01/44 | 1,500 | 1,693,200 | |
Rockdale Cnty. Dev. Auth. Rev., Pratt Paper LLC Proj., AMT, Rfdg., 144A | 4.000 | 01/01/38 | 1,000 | 1,104,540 | |
9,675,538 | |||||
Hawaii 0.3% | |||||
Hawaii St. Dept. Budget & Fin. Rev., Spl. Purp. Rev., Hawaii Pacific Hlth. Oblig., Ser. A, Rfdg. | 5.500 | 07/01/43 | 2,500 | 2,808,175 | |
Illinois 13.5% | |||||
Chicago Brd. of Edu., | |||||
GO, Ser. A | 5.500 | 12/01/39 | 635 | 671,678 | |
GO, Ser. A, 144A | 7.000 | 12/01/46 | 1,500 | 1,951,335 | |
GO, Ser. A, CABS, Rfdg. | 2.556(t) | 12/01/26 | 500 | 420,310 | |
GO, Ser. A, Rfdg. | 4.000 | 12/01/27 | 500 | 569,035 | |
GO, Ser. A, Rfdg. | 5.000 | 12/01/35 | 500 | 597,150 | |
GO, Ser. A, Rfdg. | 7.000 | 12/01/44 | 3,390 | 4,188,006 | |
GO, Ser. C | 5.250 | 12/01/35 | 1,015 | 1,139,500 | |
GO, Ser. D | 5.000 | 12/01/46 | 1,470 | 1,714,182 | |
GO, Ser. G, Rfdg. | 5.000 | 12/01/34 | 2,155 | 2,539,430 | |
GO, Ser. H | 5.000 | 12/01/46 | 2,390 | 2,746,851 | |
7
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Illinois (cont’d.) | |||||
Chicago Brd. of Edu., Rev., Spl. Tax | 6.000 % | 04/01/46 | 1,500 | $1,826,205 | |
Chicago O’Hare Int’l. Arpt. Rev., | |||||
Gen., Sr. Lien, Ser. B, AGM, Rfdg. | 4.000 | 01/01/53 | 3,005 | 3,350,665 | |
Gen., Sr. Lien, Ser. D, AMT | 5.000 | 01/01/52 | 1,000 | 1,170,460 | |
Gen., Third Lien, Ser. C, AMT, Rfdg. | 5.375 | 01/01/39 | 1,500 | 1,658,055 | |
Ser. C, AMT, Rfdg. | 4.375 | 01/01/40 | 2,000 | 2,207,040 | |
Sr. Lien, Ser. A, AMT, Rfdg. | 5.000 | 01/01/48 | 1,000 | 1,206,720 | |
Sr. Lien, Ser. G, AMT | 5.000 | 01/01/52 | 1,000 | 1,165,750 | |
Trips Oblig. Grp., AMT | 5.000 | 07/01/48 | 1,000 | 1,187,280 | |
Chicago Transit Auth. Rev., Second Lien | 5.000 | 12/01/46 | 5,000 | 5,890,000 | |
Chicago Wstwtr. Transmn. Rev., Second Lien, Ser. C, Rmkt., Rfdg. | 5.000 | 01/01/39 | 3,355 | 3,780,649 | |
Chicago, IL, | |||||
GO, Ser. 2003 B, Rmkt., Rfdg. | 5.000 | 01/01/23 | 750 | 821,205 | |
GO, Ser. 2005 D, Rmkt., Rfdg. | 5.500 | 01/01/37 | 6,520 | 7,558,180 | |
GO, Ser. 2007 E, Rmkt., Rfdg. | 5.500 | 01/01/35 | 3,000 | 3,483,840 | |
GO, Ser. A | 5.500 | 01/01/39 | 1,865 | 2,158,943 | |
GO, Ser. A, Rfdg. | 5.000 | 01/01/31 | 1,400 | 1,732,864 | |
GO, Ser. A, Rfdg. | 5.000 | 01/01/34 | 3,650 | 4,054,931 | |
GO, Ser. A, Rfdg. | 5.500 | 01/01/49 | 1,000 | 1,222,030 | |
GO, Ser. A, Rfdg. | 6.000 | 01/01/38 | 2,500 | 3,142,700 | |
GO, Ser. C, Rfdg. | 5.000 | 01/01/26 | 1,000 | 1,169,230 | |
GO, Ser. C, Rfdg. | 5.000 | 01/01/38 | 2,500 | 2,867,525 | |
Illinois Edl. Facs. Auth. Rev., Field Museum of Natural History, Rmkt. | 4.450 | 11/01/36 | 1,075 | 1,217,362 | |
Illinois Fin. Auth. Rev., | |||||
IL Institute of Tech., Rfdg. | 4.000 | 09/01/41 | 1,250 | 1,344,850 | |
Impt., Chicago Intl., Rfdg. | 5.000 | 12/01/47 | 1,000 | 1,119,560 | |
Presence Hlth. Netw. Ser. C, Rfdg. (Pre-refunded 02/15/27)(ee) | 4.000 | 02/15/41 | 10 | 11,977 | |
Presence Hlth. Netw. Ser. C, Rfdg. (Pre-refunded 02/15/27)(ee) | 4.000 | 02/15/41 | 265 | 317,237 | |
Presence Hlth. Netw. Ser. C, unrefunded, Rfdg. | 4.000 | 02/15/41 | 5,725 | 6,339,006 | |
Illinois St., | |||||
GO | 4.000 | 06/01/36 | 3,000 | 3,235,470 | |
GO | 5.000 | 04/01/31 | 2,000 | 2,236,140 | |
GO | 5.000 | 01/01/32 | 1,335 | 1,532,620 | |
GO | 5.000 | 05/01/33 | 950 | 1,061,121 | |
GO | 5.000 | 03/01/36 | 1,800 | 1,906,596 | |
GO | 5.000 | 05/01/36 | 2,000 | 2,223,820 |
8
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Illinois (cont’d.) | |||||
Illinois St., (cont’d.) | |||||
GO | 5.000 % | 02/01/39 | 2,215 | $2,445,537 | |
GO | 5.000 | 05/01/39 | 3,000 | 3,326,040 | |
GO | 5.250 | 07/01/31 | 1,000 | 1,106,420 | |
GO, Rebuild Illinois Prog., Ser. B | 4.000 | 11/01/35 | 2,000 | 2,238,900 | |
GO, Rfdg. | 5.000 | 08/01/25 | 1,000 | 1,079,490 | |
GO, Ser. A | 5.000 | 01/01/33 | 2,000 | 2,112,460 | |
GO, Ser. A | 5.000 | 01/01/34 | 1,600 | 1,689,168 | |
GO, Ser. A | 5.000 | 12/01/35 | 2,000 | 2,355,740 | |
GO, Ser. A | 5.000 | 12/01/42 | 2,500 | 2,909,875 | |
GO, Ser. C | 5.000 | 11/01/29 | 1,250 | 1,487,025 | |
GO, Ser. D | 5.000 | 11/01/27 | 5,250 | 6,306,352 | |
Illinois St. Toll Hwy. Auth. Rev., Ser. A | 4.000 | 01/01/44 | 1,000 | 1,145,030 | |
Railsplitter Tob. Settlement Auth. Rev., (Pre-refunded 06/01/21)(ee) | 6.000 | 06/01/28 | 2,250 | 2,400,862 | |
Regl. Transn. Auth. Rev., | |||||
Ser. A | 4.000 | 06/01/38 | 4,015 | 4,369,886 | |
Ser. A | 4.000 | 06/01/39 | 3,015 | 3,266,361 | |
Sales Tax Securitization Corp. Rev., Second Lien, Ser. C, Rfdg. | 4.000 | 01/01/38 | 1,000 | 1,145,150 | |
Springfield Elec. Rev., Sr. Lien, Rfdg., AGM | 4.000 | 03/01/40 | 1,500 | 1,613,475 | |
131,735,279 | |||||
Indiana 0.5% | |||||
Indiana St. Fin. Auth. Rev., Drexel Fndtn. Edl. Facs. Proj., Ser. A | 7.000 | 10/01/39 | 1,000 | 1,001,990 | |
Valparaiso Rev., | |||||
Pratt Paper LLC Proj., AMT | 5.875 | 01/01/24 | 600 | 655,110 | |
Pratt Paper LLC Proj., AMT | 7.000 | 01/01/44 | 1,500 | 1,747,920 | |
Vigo Cnty. Hosp. Auth. Rev., Union Hosp., Inc. Rfdg. (Pre-refunded 09/01/21)(ee) | 7.750 | 09/01/31 | 1,500 | 1,658,190 | |
5,063,210 |
9
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Iowa 0.1% | |||||
Iowa St. Fin. Auth. Rev., | |||||
Lifespace communities Inc. | 2.875 % | 05/15/49 | 750 | $754,905 | |
Midwstrn. Disaster Area, Iowa Fertilizer Co. Proj., Rfdg. | 3.125 | 12/01/22 | 500 | 515,515 | |
1,270,420 | |||||
Kansas 0.2% | |||||
Overland Park Dev. Corp. Rev., Rfdg. | 5.000 | 03/01/49 | 1,000 | 1,197,570 | |
Wyandotte Cnty.-Kansas City Unified Govt. Rev., Legends Apts. Garage & West Lawn Proj. | 4.500 | 06/01/40 | 950 | 1,011,057 | |
2,208,627 | |||||
Kentucky 0.8% | |||||
Kentucky Econ. Dev. Fin. Auth. Hosp. Facs. Rev., | |||||
Baptist Healthcare Sys., Ser. B | 5.000 | 08/15/46 | 3,500 | 4,101,825 | |
Commonspirit Hlth., Ser. A, Rfdg. | 5.000 | 08/01/44 | 2,650 | 3,225,977 | |
7,327,802 | |||||
Louisiana 0.8% | |||||
Jefferson Parish Econ. Dev. & Port Dist. Rev., Kenner Discovery Hlth. Sciences Academy Proj., Ser. A, 144A | 5.625 | 06/15/48 | 2,000 | 2,166,820 | |
Louisiana Loc. Govt. Envir. Facs. & Cmnty. Dev. Auth. Rev., | |||||
Westlake Chem. Corp., Ser. A-2 | 6.500 | 11/01/35 | 1,000 | 1,036,790 | |
Woman’s Hosp. Fndtn., Ser. A (Pre-refunded 10/01/20)(ee) | 6.000 | 10/01/44 | 2,000 | 2,066,780 | |
Louisiana Pub. Facs. Auth. Rev., Ochsner Clinic Fndtn. Proj., Rfdg. | 5.000 | 05/15/47 | 1,000 | 1,149,400 | |
New Orleans Sewerage Serv. Rev., Rfdg. | 5.000 | 06/01/44 | 1,000 | 1,137,620 | |
7,557,410 | |||||
Maine 0.2% | |||||
Maine St. Hlth. & Higher Edl. Facs. Auth. Rev., Maine General Med. Ctr. | 7.500 | 07/01/32 | 2,000 | 2,117,880 |
10
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Maryland 1.2% | |||||
Frederick Cnty. Spl. Oblig. Rev., Jefferson Tech. Park, Ser. B, 144A | 7.125 % | 07/01/43 | 1,985 | $2,018,328 | |
Frederick Cnty. Spl. Oblig. Tax, Sub. Urbana Cmnty. Dev. Auth., Ser. B | 5.500 | 07/01/40 | 4,290 | 4,354,736 | |
Howard Cnty. Tax Alloc., Annapolis Junction Twn. Ctr. Proj. | 6.100 | 02/15/44 | 1,420 | 1,506,308 | |
Maryland Econ. Dev. Corp., Poll. Ctrl. Rev., Transn. Facs. Proj., Ser. A, Rfdg. | 5.000 | 06/01/35 | 1,000 | 1,225,590 | |
Maryland St. Hlth. & Higher Edl. Facs. Auth. Rev., | |||||
Charlestown Cmnty., Rfdg. (Pre-refunded 01/01/21)(ee) | 6.250 | 01/01/41 | 1,500 | 1,572,720 | |
Lifebridge Hlth. (Pre-refunded 07/01/21)(ee) | 6.000 | 07/01/41 | 600 | 642,954 | |
11,320,636 | |||||
Massachusetts 1.0% | |||||
Massachusetts St. Dev. Fin. Agcy. Rev., | |||||
Atrius Hlth., Ser. A, Rfdg. | 4.000 | 06/01/49 | 4,440 | 4,789,073 | |
Ser. A, Rfdg. | 4.000 | 07/01/44 | 2,660 | 2,966,911 | |
Tufts Med. Ctr., Ser. I, Rfdg. (Pre-refunded 01/01/21)(ee) | 7.250 | 01/01/32 | 1,200 | 1,269,564 | |
Tufts Med. Ctr., Ser. I, Rfdg. (Pre-refunded 01/01/21)(ee) | 7.250 | 01/01/32 | 800 | 846,376 | |
9,871,924 | |||||
Michigan 0.9% | |||||
Michigan Fin. Auth. Rev., | |||||
Ser. A, Rfdg. | 4.000 | 12/01/49 | 1,000 | 1,140,610 | |
Sr. Lien, Detroit Wtr. & Swr., Ser. C-1 | 5.000 | 07/01/44 | 1,000 | 1,083,320 | |
Michigan St. Bldg. Auth. Rev., Facs. Prog., Ser. I-A, Rfdg. | 5.375 | 10/15/41 | 750 | 800,453 | |
Michigan St. Strategic Fund Rev., | |||||
I-75 Imp. Proj., AMT, AGM | 4.500 | 06/30/48 | 1,250 | 1,394,975 | |
Var. Detroit Ed., Rmkt., Rfdg. | 5.625 | 07/01/20 | 1,000 | 1,018,470 | |
Oakland Cnty. Econ. Dev. Corp. Oblg. Rev., Roman Catholic Archdiocese Detroit, Rfdg. | 6.500 | 12/01/20 | 470 | 483,334 | |
Summit Academy Rev., Rfdg. | 6.250 | 11/01/25 | 1,380 | 1,383,215 | |
Wayne Cnty. Arpt. Auth. Rev., Detroit Met. Arpt., Ser. D, AMT, Rfdg. | 5.000 | 12/01/28 | 1,500 | 1,654,530 | |
8,958,907 |
11
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Minnesota 1.0% | |||||
Hugo Rev., Chrt. Sch. Lease, Noble Academy Proj., Ser. A | 5.000 % | 07/01/44 | 1,250 | $1,330,300 | |
Rochester Rev., Mayo Clinic | 4.000 | 11/15/48 | 3,000 | 3,398,340 | |
St. Cloud Rev., | |||||
Centracare Hlth., Rfdg. | 4.000 | 05/01/49 | 1,000 | 1,127,170 | |
Centracare Hlth., Ser. A, Rfdg. | 4.000 | 05/01/37 | 1,250 | 1,401,812 | |
St. Paul Hsg. & Redev. Auth. Hosp. Rev., Hlth. East Care Sys. Proj., Rfdg. (Pre-refunded 11/15/25)(ee) | 5.000 | 11/15/44 | 1,000 | 1,227,230 | |
St. Paul Port Auth. Sol. Wste. Disp. Rev., Gerdau St. Paul Steel Mill Proj., Ser. 7, 144A | 4.500 | 10/01/37 | 1,000 | 1,036,670 | |
9,521,522 | |||||
Missouri 2.2% | |||||
Lees Summit, Tax Alloc., Impt., Summit Fair Proj., Rfdg., 144A | 4.875 | 11/01/37 | 2,000 | 2,121,120 | |
Missouri St. Hlth. & Edl. Facs. Auth. Rev., | |||||
BJC Hlth. Sys., Ser. A | 4.000 | 01/01/45 | 2,010 | 2,199,905 | |
Lutheran Sr. Svcs. | 6.000 | 02/01/41 | 1,000 | 1,040,720 | |
Lutheran Sr. Svcs., Rfdg. | 4.000 | 02/01/42 | 1,035 | 1,145,590 | |
Lutheran Sr. Svcs., Rfdg. | 4.000 | 02/01/48 | 2,000 | 2,179,580 | |
Lutheran Sr. Svcs., Rfdg. | 5.000 | 02/01/44 | 4,000 | 4,440,040 | |
Lutheran Sr. Svcs., Ser. A | 5.000 | 02/01/42 | 1,500 | 1,720,110 | |
Poplar Bluff Regl. Transn. Dev. Dist. Rev., Transn. Sales Tax | 4.750 | 12/01/42 | 2,100 | 2,205,987 | |
St. Louis Cnty. Indl. Dev. Auth. Rev., | |||||
Friendship Vlg. St. Louis Oblig. Grp., Ser. A | 5.250 | 09/01/53 | 2,000 | 2,276,400 | |
Friendship Vlg. Sunset Hills, Ser. A | 5.875 | 09/01/43 | 1,000 | 1,101,030 | |
St. Andrews Res. Srs. Oblig., Ser. A, Rfdg. | 5.125 | 12/01/45 | 1,000 | 1,100,850 | |
21,531,332 | |||||
Nevada 0.4% | |||||
Clark Cnty. Impt. Dist. Spl. Assmt., Dist. No. 142, Mountains Edge Loc. Impvt., Rfdg. | 4.000 | 08/01/23 | 1,180 | 1,263,119 | |
Nevada St. Dept. of Bus. & Ind. Rev., | |||||
Somerset Acad., Ser. A, 144A | 5.000 | 12/15/48 | 500 | 532,980 | |
Somerset Acad., Ser. A, 144A | 5.125 | 12/15/45 | 1,000 | 1,053,670 |
12
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Nevada (cont’d.) | |||||
Sparks NV, Rev., 144A | 2.750 % | 06/15/28 | 1,000 | $1,036,790 | |
3,886,559 | |||||
New Jersey 8.6% | |||||
New Jersey Econ. Dev. Auth. Rev., | |||||
Continental Airlines, Inc., Proj., Rfdg. | 5.750 | 09/15/27 | 1,530 | 1,686,029 | |
Continental Airlines, Inc., Proj., Spec. Facs. | 5.250 | 09/15/29 | 5,000 | 5,464,400 | |
Continental Airlines, Inc., United Airlines, Inc. Proj. | 5.125 | 09/15/23 | 5,000 | 5,386,500 | |
Continental Airlines, Inc., United Airlines, Inc. Proj., Ser. A, AMT | 5.625 | 11/15/30 | 2,275 | 2,622,029 | |
Goethals Bridge, AMT | 5.375 | 01/01/43 | 1,390 | 1,576,260 | |
N. Star Academy Chrt. Sch. Newark | 5.000 | 07/15/47 | 1,000 | 1,123,090 | |
NJ Transit Trans. Proj. | 4.000 | 11/01/44 | 1,000 | 1,097,080 | |
NJ Transit Trans. Proj. | 5.000 | 11/01/44 | 2,000 | 2,391,420 | |
Port Newark Container, AMT, Rfdg. | 5.000 | 10/01/47 | 2,500 | 2,891,900 | |
SCH Facs. Construction | 4.000 | 06/15/49 | 3,000 | 3,256,410 | |
Ser. AAA | 5.000 | 06/15/41 | 2,020 | 2,340,978 | |
Ser. BBB, Rfdg. | 5.500 | 06/15/30 | 1,500 | 1,843,245 | |
Ser. DDD | 5.000 | 06/15/42 | 1,000 | 1,165,250 | |
Ser. WW, (Pre-refunded 06/15/25)(ee) | 5.250 | 06/15/40 | 65 | 79,565 | |
Ser. WW, unrefunded | 5.250 | 06/15/40 | 1,185 | 1,363,354 | |
St. Gov’t. Bldgs. Proj., Ser. C | 5.000 | 06/15/47 | 2,000 | 2,315,280 | |
St. House Proj., Ser. B, Rmkt. | 5.000 | 06/15/43 | 1,000 | 1,183,830 | |
Team Academy Chrt. Sch. Proj. | 6.000 | 10/01/43 | 1,700 | 1,898,900 | |
Umm Energy Partners, Ser. A, AMT | 5.000 | 06/15/37 | 1,500 | 1,597,830 | |
Umm Energy Partners, Ser. A, AMT | 5.125 | 06/15/43 | 1,100 | 1,178,111 | |
United Airlines, Inc. Proj., Rmkt. | 5.500 | 06/01/33 | 2,000 | 2,237,840 | |
New Jersey Healthcare Facs. Fing. Auth. Rev., | |||||
AHS Hosp. Corp., Rfdg. (Pre-refunded 07/01/21)(ee) | 6.000 | 07/01/41 | 500 | 535,655 | |
Barnabas Hlth., Ser. A, Rfdg. (Pre-refunded 07/01/21)(ee) | 5.625 | 07/01/37 | 1,000 | 1,066,770 | |
RWJ Barnabas Healthcare Sys. Oblig., Ser. A, Rfdg. | 5.000 | 07/01/43 | 1,500 | 1,808,445 | |
University Hosp. Ser. A, AGM, Rfdg. | 5.000 | 07/01/46 | 1,500 | 1,711,215 | |
New Jersey St. Transn. Tr. Fd. Sys. Auth. Rev., | |||||
Ser. BB | 5.000 | 06/15/44 | 1,500 | 1,777,950 | |
Trans. Sys., Rfdg. | 4.000 | 12/15/39 | 500 | 558,890 | |
Trans. Sys., Rfdg. | 5.000 | 12/15/39 | 500 | 607,250 | |
Trans. Sys., Ser. A, Rfdg. | 5.000 | 12/15/36 | 1,250 | 1,505,263 | |
Trans. Sys., Ser. AA | 5.000 | 06/15/45 | 1,200 | 1,353,708 | |
Trans. Sys., Ser. AA | 5.000 | 06/15/46 | 1,940 | 2,282,856 | |
Trans. Sys., Ser. AA | 5.250 | 06/15/41 | 1,000 | 1,159,020 |
13
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
New Jersey (cont’d.) | |||||
New Jersey St. Transn. Tr. Fd. Sys. Auth. Rev., (cont’d.) | |||||
Trans. Sys., Ser. AA | 5.250 % | 06/15/43 | 5,095 | $6,142,685 | |
New Jersey Tpk. Auth. Rev., Ser. A | 4.000 | 01/01/48 | 1,000 | 1,148,170 | |
South Jersey Transn. Auth. LLC, Rev., Ser. A, Rfdg. | 5.000 | 11/01/39 | 750 | 859,575 | |
Tob. Settlement Fing. Corp. Rev., | |||||
Ser. A, Rfdg. | 5.000 | 06/01/46 | 4,000 | 4,674,000 | |
Ser. A, Rfdg. | 5.250 | 06/01/46 | 3,000 | 3,567,810 | |
Sub., Ser. B, Rfdg. | 5.000 | 06/01/46 | 7,000 | 8,046,710 | |
83,505,273 | |||||
New York 4.9% | |||||
Build NYC Resource Corp. Rev., Pratt Paper, Inc. Proj., AMT, Rfdg., 144A | 5.000 | 01/01/35 | 1,000 | 1,094,800 | |
Erie Cnty. Tob. Asset Secur. Corp. Cap. Apprec. Rev., | |||||
Asset Bkd., 1st Sub., Ser. B, CABS, Rfdg. | 6.294(t) | 06/01/47 | 5,000 | 918,850 | |
Asset Bkd., 2nd Sub., Ser. C, CABS, Rfdg. | 6.984(t) | 06/01/50 | 4,000 | 498,480 | |
Glen Cove Loc. Econ. Asst. Corp. Rev., | |||||
Garvies Pt. Impt. Proj., Ser. A | 5.000 | 01/01/56 | 2,105 | 2,307,522 | |
Garvies Pt. Impt. Proj., Ser. C, CABS (Convert to Fixed on 01/01/24) | 0.000(cc) | 01/01/55 | 1,000 | 1,002,330 | |
New York Liberty Dev. Corp. Rev., | |||||
4 World Trade Center Proj., Rfdg. | 5.750 | 11/15/51 | 1,750 | 1,892,432 | |
Bank of America, Rfdg. | 2.800 | 09/15/69 | 1,000 | 1,041,590 | |
Class 1-3 World Trade Ctr., Rfdg., 144A | 5.000 | 11/15/44 | 5,000 | 5,491,950 | |
New York St. Dorm. Auth. Rev., Orange Regl. Med. Ctr., Rfdg., 144A | 5.000 | 12/01/45 | 1,000 | 1,129,370 | |
New York St. Thruway Auth. Rev., Ser. B, Rfdg. | 4.000 | 01/01/50 | 1,500 | 1,715,010 | |
New York Trans. Dev. Corp. Rev., | |||||
Delta Air Lines, Inc.-Laguardia Arpt. Terms. C&D Redev., AMT | 5.000 | 01/01/33 | 560 | 681,727 | |
Delta Air Lines, Inc.-Laguardia Arpt. Terms. C&D Redev., AMT | 5.000 | 01/01/34 | 1,000 | 1,218,680 | |
Laguardia Arpt., Term. B Redev., Ser. A, AMT | 5.000 | 07/01/46 | 4,885 | 5,518,096 | |
Laguardia Arpt., Term. B Redev., Ser. A, AMT | 5.250 | 01/01/50 | 9,250 | 10,554,990 | |
Onondaga Civic Dev. Corp. Rev., St. Joseph Hosp. Hlth. Ctr., Ser. 2012, Rfdg. (Pre-refunded 07/01/22)(ee) | 5.000 | 07/01/42 | 1,000 | 1,099,080 |
14
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
New York (cont’d.) | |||||
Port Auth. of NY & NJ Spl. Oblig. Rev., | |||||
Consolidated Bonds, Series 218, AMT | 4.000 % | 11/01/47 | 1,250 | $1,425,900 | |
Consolidated Bonds, Series 220, AMT | 4.000 | 11/01/59 | 1,000 | 1,137,180 | |
JFK Int’l. Air Term. | 5.000 | 12/01/20 | 175 | 180,371 | |
JFK Int’l. Air Term. | 6.000 | 12/01/42 | 2,500 | 2,586,050 | |
TSASC, Inc., Rev., Ser. A, Rfdg. | 5.000 | 06/01/41 | 4,805 | 5,487,310 | |
Yonkers Econ. Dev. Corp. Rev., Chrt. Sch. Edu. Excellence proj., Ser. A | 5.000 | 10/15/54 | 930 | 1,039,415 | |
48,021,133 | |||||
North Carolina 0.4% | |||||
North Carolina Med. Care Commn. Rev., Pennybyrn at Maryfield, Rfdg. | 5.000 | 10/01/35 | 1,000 | 1,086,360 | |
North Carolina Tpk. Auth. Rev., | |||||
Ser. A, Rfdg. | 5.000 | 07/01/51 | 1,250 | 1,427,425 | |
Sr. Lien, Triangle Expressway Sys. | 4.000 | 01/01/55 | 1,000 | 1,117,550 | |
3,631,335 | |||||
North Dakota 0.1% | |||||
Burleigh Cnty. Rev., St. Alexius Med. Ctr. Proj., Ser. A, Rfdg. (Pre-refunded 07/01/21)(ee) | 5.000 | 07/01/35 | 750 | 791,970 | |
Ohio 5.4% | |||||
Buckeye Tob. Settlement Fing. Auth. Rev., | |||||
Asset Bkd. Sr. Turbo, Ser. A-2 | 5.375 | 06/01/24 | 2,830 | 2,842,452 | |
Asset Bkd. Sr. Turbo, Ser. A-2 | 5.875 | 06/01/30 | 7,100 | 7,131,311 | |
Asset Bkd. Sr. Turbo, Ser. A-2 | 5.875 | 06/01/47 | 8,655 | 8,693,255 | |
Asset Bkd. Sr. Turbo, Ser. A-2 | 6.500 | 06/01/47 | 7,675 | 7,809,389 | |
Cuyahoga Cnty. Hosp. Rev., | |||||
Metro Hlth. Sys., Rfdg. | 5.000 | 02/15/52 | 575 | 661,745 | |
Metro Hlth. Sys., Rfdg. | 5.000 | 02/15/57 | 3,965 | 4,535,643 | |
Metro Hlth. Sys., Rfdg. | 5.500 | 02/15/52 | 5,295 | 6,271,398 | |
Metro Hlth. Sys., Rfdg. | 5.500 | 02/15/57 | 1,245 | 1,474,802 | |
Franklin Cnty. Convention Facs. Auth. Rev., GRTR Columbus Conv. Ctr. | 5.000 | 12/01/51 | 1,000 | 1,180,670 | |
Franklin Cnty. Hosp. Facs. Rev., | |||||
Hlth. Corp., Ser. A | 4.000 | 05/15/47 | 2,500 | 2,789,275 | |
Nationwide Children’s Hosp. Proj., Ser. A | 4.000 | 11/01/45 | 2,000 | 2,194,660 |
15
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Ohio (cont’d.) | |||||
Hamilton Cnty. Healthcare Facs. Rev., Christ Hosp. Proj. (Pre-refunded 06/01/22)(ee) | 5.000 % | 06/01/42 | 1,250 | $1,367,262 | |
Hancock Cnty. Hosp. Facs. Rev., Blanchard Valley Hlth. Ctr., Rfdg. (Pre-refunded 06/01/21)(ee) | 6.250 | 12/01/34 | 600 | 642,234 | |
Lucas Cnty. Hosp. Rev., | |||||
Promedica Healthcare, Ser. A, Rfdg. (Pre-refunded 11/15/21)(ee) | 6.000 | 11/15/41 | 750 | 817,485 | |
Promedica Healthcare, Ser. A, Rfdg. (Pre-refunded 11/15/21)(ee) | 6.500 | 11/15/37 | 875 | 961,441 | |
Middleburg Heights Hosp. Rev., Facs. Southwest Gen., Ser. 2011, Rfdg. | 5.250 | 08/01/41 | 1,200 | 1,265,508 | |
Ohio Air Qlty. Dev. Auth. Rev., Pratt Paper OH LLC Proj., AMT, 144A | 4.500 | 01/15/48 | 1,000 | 1,106,050 | |
Ohio St. Pvt. Act. Rev., Portsmouth Bypass Proj., AMT | 5.000 | 06/30/53 | 1,000 | 1,127,030 | |
52,871,610 | |||||
Oklahoma 2.4% | |||||
Norman Regl. Hosp. Auth. Rev., | 4.000 | 09/01/45 | 1,000 | 1,104,810 | |
Oklahoma St. Dev., Fin. Auth. Rev., | |||||
OU Medicine Proj., Ser. B | 5.250 | 08/15/48 | 1,455 | 1,752,271 | |
OU Medicine Proj., Ser. B | 5.500 | 08/15/52 | 7,530 | 9,203,693 | |
OU Medicine Proj., Ser. B | 5.500 | 08/15/57 | 4,070 | 4,966,377 | |
St. Johns Hlth. Sys., Rfdg. (Pre-refunded 02/15/22)(ee) | 5.000 | 02/15/42 | 1,500 | 1,621,710 | |
Tulsa Cnty. Indl. Auth. Rev., | |||||
Montereau, Inc. Proj., Rfdg. | 5.250 | 11/15/45 | 1,000 | 1,144,130 | |
Montereau, Inc. Proj., Ser A, Rfdg. (Pre-refunded 05/01/20)(ee) | 7.125 | 11/01/30 | 1,000 | 1,014,930 | |
Tulsa Mun. Arpt. Tr. Trustees Gen. Rev., | |||||
American Airlines, AMT, Rfdg. (Mandatory put date 06/01/25) | 5.000(cc) | 06/01/35 | 1,250 | 1,423,100 | |
American Airlines, Ser. A, AMT, Rfdg. | 5.500 | 06/01/35 | 1,000 | 1,084,080 | |
23,315,101 |
16
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Oregon 0.2% | |||||
Multnomah Cnty. Hosp. Facs. Auth. Rev., Mirabella at South Waterfront, Ser. A., Rfdg. | 5.400 % | 10/01/44 | 1,000 | $1,091,320 | |
Salem Hosp. Facs. Auth. Rev., Capital Manor, Inc., Rfdg. | 6.000 | 05/15/42 | 1,000 | 1,084,880 | |
2,176,200 | |||||
Pennsylvania 4.7% | |||||
Central Bradford Progress Auth. Rev., Guthrie Healthcare Sys., Rfdg. (Pre-refunded 12/01/21)(ee) | 5.375 | 12/01/41 | 2,700 | 2,914,596 | |
Chester Cnty. Indl. Dev. Auth. Rev., Renaissance Academy Chrt. Sch., Rfdg. | 5.000 | 10/01/44 | 1,000 | 1,096,170 | |
Comnwlth. Fing. Auth. Rev., Tobacco Master Stlmnt. Pymt. | 5.000 | 06/01/35 | 1,000 | 1,230,020 | |
Cumberland Cnty. Mun. Auth., Rev., Asbury PA Oblig. Grp., Rfdg. | 5.250 | 01/01/41 | 1,000 | 1,034,660 | |
Geisinger Auth. Hlth. Sys. Rev., Ser. A-1 | 5.125 | 06/01/41 | 1,450 | 1,517,730 | |
Lehigh Cnty. Rev., Lehigh Valley Hlth. Netw. Rfdg. | 4.000 | 07/01/49 | 1,500 | 1,683,990 | |
Moon Indl. Dev. Auth. Rev., Baptist Homes Society Oblig., Rfdg. | 6.000 | 07/01/45 | 2,000 | 2,211,840 | |
Pennsylvania Comnwlth., Ser. A, COP, Rfdg. | 4.000 | 07/01/46 | 1,500 | 1,705,605 | |
Pennsylvania Econ. Dev. Fing. Auth. Rev., | |||||
Swr. Sludge Disp., Philadelphia Biosolids Fac. | 6.250 | 01/01/32 | 710 | 712,542 | |
US Airways Grp., Ser. B, Gty. Agmt. | 8.000 | 05/01/29 | 490 | 496,742 | |
Pennsylvania Tpk. Comm. Rev., Sub., Ser. A | 4.000 | 12/01/49 | 1,515 | 1,700,527 | |
Pennsylvania Tpk. Commn. Rev., | |||||
Ser. A-1 | 5.000 | 12/01/46 | 3,950 | 4,678,538 | |
Sub., Ser. A | 5.500 | 12/01/42 | 1,500 | 1,840,065 | |
Sub., Ser. A | 5.500 | 12/01/46 | 1,740 | 2,171,294 | |
Sub., Ser. A-1 | 5.000 | 12/01/46 | 2,000 | 2,315,900 | |
Sub., Ser. B-1 | 5.250 | 06/01/47 | 2,000 | 2,412,600 | |
Philadelphia Auth. for Indl. Dev. Rev., | |||||
First Philadelphia Preparatory Chrt., Ser. A, Rfdg. | 7.250 | 06/15/43 | 2,000 | 2,314,680 | |
Gtr. Philadelphia Hlth Action, Rfdg. | 6.625 | 06/01/50 | 2,795 | 3,023,100 | |
Mariana Bracetti Academy | 7.625 | 12/15/41 | 2,000 | 2,151,940 | |
New Fndtn. Chrt. Sch. Proj. (Pre-refunded 12/15/22)(ee) | 6.625 | 12/15/41 | 1,000 | 1,162,710 |
17
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Pennsylvania (cont’d.) | |||||
Philadelphia Hosp. & Higher Ed. Facs. Auth. Rev., Temple Univ. Hlth. Sys., Ser. A | 5.625 % | 07/01/42 | 6,750 | $7,291,687 | |
45,666,936 | |||||
Puerto Rico 4.9% | |||||
Puerto Rico Comnwlth. Aqueduct & Swr. Auth., | |||||
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 4.000 | 07/01/22 | 2,535 | 2,600,048 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 4.250 | 07/01/25 | 1,200 | 1,256,328 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 5.000 | 07/01/33 | 2,615 | 2,781,785 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 5.125 | 07/01/37 | 155 | 165,272 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 5.250 | 07/01/42 | 1,250 | 1,339,600 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 5.750 | 07/01/37 | 1,375 | 1,485,784 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A, Rfdg. | 6.000 | 07/01/47 | 1,170 | 1,270,936 | |
Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev., | |||||
Restructured Ser. A-1 | 4.750 | 07/01/53 | 7,671 | 8,487,578 | |
Restructured Ser. A-1 | 5.000 | 07/01/58 | 14,121 | 15,859,577 | |
Restructured Ser. A-1, CABS | 4.180(t) | 07/01/46 | 10,156 | 2,966,364 | |
Restructured Ser. A-1, CABS | 4.211(t) | 07/01/51 | 6,725 | 1,421,060 | |
Ser. A-2 | 4.329 | 07/01/40 | 7,500 | 8,142,750 | |
47,777,082 | |||||
Rhode Island 0.3% | |||||
Tob. Settlement Fing. Corp. Rev., Ser. A, Rfdg. | 5.000 | 06/01/40 | 2,600 | 2,929,784 | |
South Carolina 0.8% | |||||
Berkeley Cnty. Spl. Assmt., Nexton Impt. Dist. | 4.375 | 11/01/49 | 1,000 | 1,025,110 | |
South Carolina Prt. Auth. Rev., | |||||
AMT | 4.000 | 07/01/45 | 1,500 | 1,603,125 | |
AMT | 4.000 | 07/01/55 | 2,000 | 2,189,480 | |
South Carolina St. Pub. Svc. Auth. Rev., Ser. E, Rfdg. | 5.250 | 12/01/55 | 2,500 | 2,896,925 | |
7,714,640 | |||||
South Dakota 0.2% | |||||
South Dakota St. Hlth. & Edl. Facs. Auth. Rev., Avera Hlth., Ser. A, Rfdg. (Pre-refunded 07/01/21)(ee) | 5.000 | 07/01/42 | 1,655 | 1,750,758 |
18
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Tennessee 0.8% | |||||
Chattanooga Hlth. Edl. & Hsg. Facs. Brd. Rev., Catholic Hlth., Ser. A (Pre-refunded 01/01/23)(ee) | 5.250 % | 01/01/45 | 2,000 | $2,245,240 | |
Knox Cnty. Hlth. Edl. & Hsg. Facs. Brd. Rev., East Tennessee Children’s Hosp., Rfdg. | 4.000 | 11/15/48 | 2,000 | 2,219,840 | |
Memphis-Shelby Cnty. Indl. Dev. Brd. Tax Alloc., Sr. Tax Incr.-Graceland, Ser. A, Rfdg. | 5.625 | 01/01/46 | 500 | 568,160 | |
Metropolitan Govt. Nashville & Davidson Cnty. Hlth. & Edl. Facs. Brd. Rev., Impt. Blakeford at Green Hills, Rfdg. | 5.000 | 07/01/37 | 850 | 911,871 | |
Shelby Cnty. Hlth. Edl. & Hsg. Facs. Brd. Facs. Rev., Germantown Village, Rfdg. | 5.250 | 12/01/42 | 1,100 | 1,159,598 | |
Tennessee Energy Acquisition Corp. Gas Rev., Ser. C | 5.000 | 02/01/22 | 1,000 | 1,066,010 | |
8,170,719 | |||||
Texas 9.7% | |||||
Arlington Higher Ed. Fin. Corp. Rev., Wayside Schs., Ser. A | 4.625 | 08/15/46 | 1,050 | 1,067,892 | |
Austin Convention Enterprises, Inc., Rev., | |||||
Sub., Second Tier, Ser. B, Rfdg. | 5.000 | 01/01/32 | 1,135 | 1,318,870 | |
Sub., Second Tier, Ser. B, Rfdg. | 5.000 | 01/01/34 | 1,050 | 1,210,409 | |
Bexar Cnty. Hlth. Facs. Dev. Corp. Rev., Army Retmnt. Residence Fndt., Rfdg. | 5.000 | 07/15/41 | 1,250 | 1,428,188 | |
Capital Area Cultural Ed. Facs. Fin. Corp. Rev., Roman Catholic Diocese, Ser. B, Rmkt., Rfdg. | 6.125 | 04/01/45 | 2,050 | 2,063,120 | |
Central Tex. Regl. Mobility Auth. Rev., | |||||
Sr. Lien, Rfdg. (Pre-refunded 01/01/21)(ee) | 6.000 | 01/01/41 | 2,000 | 2,091,740 | |
Sr. Lien, Ser. A | 5.000 | 01/01/45 | 1,000 | 1,162,590 | |
Sub., Rfdg. | 4.000 | 01/01/41 | 1,100 | 1,217,337 | |
Clifton Higher Ed. Fin. Corp. Rev., | |||||
Idea Pub. Sch. | 5.000 | 08/15/42 | 1,000 | 1,068,580 | |
Idea Pub. Sch. | 6.000 | 08/15/43 | 1,000 | 1,148,970 | |
Idea Pub. Sch. (Pre-refunded 08/15/21)(ee) | 5.750 | 08/15/41 | 1,000 | 1,073,550 | |
Uplift Ed., Ser. A, Rfdg. (Pre-refunded 12/01/20)(ee) | 6.125 | 12/01/40 | 3,000 | 3,127,470 | |
Decatur Hosp. Auth. Rev., Wise Regl. Hlth. Sys., Ser. A, Rfdg. | 5.250 | 09/01/44 | 1,370 | 1,515,384 | |
Grand Parkway Transn. Corp., First Tier Toll Rev., Ser. A | 5.125 | 10/01/43 | 2,000 | 2,246,200 | |
Gulf Coast Wste. Disp. Auth. Rev., | |||||
Exxon Mobil Corp. Proj., FRDD (Mandatory put date 02/03/20) | 1.240(cc) | 09/01/25 | 1,900 | 1,900,000 |
19
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Texas (cont’d.) | |||||
Gulf Coast Wste. Disp. Auth. Rev., (cont’d.) | |||||
Exxon Mobil Corp. Proj., FRDD (Mandatory put date 02/03/20) | 1.240 %(cc) | 12/01/25 | 10,250 | $10,250,000 | |
Exxon Mobil Corp. Proj., Ser. B, Rfdg., FRDD (Mandatory put date 02/03/20) | 1.220(cc) | 06/01/30 | 450 | 450,000 | |
Houston Arpt. Sys. Rev., | |||||
Ser. B-1, AMT | 5.000 | 07/15/35 | 2,000 | 2,274,140 | |
Spl. Facs. Cont. Airlines, Inc., Ser. A, AMT, Rfdg. | 6.625 | 07/15/38 | 1,500 | 1,594,515 | |
Spl. Facs. Cont. Airlines, Inc., Sub. Lien, Ser. A, AMT, Rfdg. | 5.000 | 07/01/32 | 1,000 | 1,085,930 | |
Sub. Lien, Ser. A, AMT, Rfdg. | 5.000 | 07/01/25 | 250 | 263,645 | |
Houston Higher Ed. Fin. Corp., Higher Ed. Rev., | |||||
Cosmos Fndtn., Inc., Ser. A | 5.000 | 02/15/42 | 1,250 | 1,309,500 | |
Cosmos Fndtn., Inc., Ser. A (Pre-refunded 05/15/21)(ee) | 6.500 | 05/15/31 | 535 | 572,985 | |
Cosmos Fndtn., Inc., Ser. A (Pre-refunded 05/15/21)(ee) | 6.500 | 05/15/31 | 465 | 497,796 | |
Kerryville Hlth. Facs. Dev. Corp. Rev., Peterson Regl. Med. Ctr. Proj., Rfdg. | 5.000 | 08/15/35 | 3,000 | 3,477,000 | |
Lower Neches Vlly. Auth. Indl. Dev. Corp. Rev., Exxon Mobil Corp. Proj., Ser. B, Rfdg., FRDD (Mandatory put date 02/03/20) | 1.220(cc) | 11/01/29 | 11,955 | 11,955,000 | |
Matagorda Cnty. Nav. Dist. No. 1, Poll. Ctrl. Rev., | |||||
AEP Tex. Central Co. Proj., Ser. B-1, Rfdg. | 4.000 | 06/01/30 | 1,000 | 1,075,740 | |
AEP Tex. Central Co. Proj., Ser. B-2, Rfdg. | 4.000 | 06/01/30 | 1,800 | 1,936,728 | |
Mission Econ. Dev. Corp. Rev., Natgosoline Proj., Sr. Lien, AMT, Rfdg., 144A | 4.625 | 10/01/31 | 2,000 | 2,166,080 | |
New Hope Cultural Ed. Facs. Corp. Rev., | |||||
Jubilee Academic Ctr., Ser. A, Rfdg., 144A | 5.000 | 08/15/46 | 2,000 | 2,041,020 | |
MRC Crestview, Rfdg. | 5.000 | 11/15/46 | 1,150 | 1,257,445 | |
Westminster Manor Proj., Rfdg. | 4.000 | 11/01/36 | 1,475 | 1,598,723 | |
North Tex. Twy. Auth. Rev., | |||||
First Tier, Sys., Rfdg. (Pre-refunded 01/01/21)(ee) | 6.000 | 01/01/38 | 2,000 | 2,091,840 | |
Rfdg. | 5.000 | 01/01/48 | 1,250 | 1,511,613 | |
Second Tier, Ser. A, Rfdg. | 4.000 | 01/01/38 | 2,000 | 2,211,580 | |
Port Beaumont Navigation Dist. Rev., Jefferson Gulf Coast, AMT, Rfdg., 144A | 4.000 | 01/01/50 | 2,000 | 2,049,360 | |
Pottsboro Higher Ed. Fin. Corp. Rev., Ser. A | 5.000 | 08/15/46 | 1,000 | 1,091,510 | |
San Juan Higher Ed. Fin. Auth. Rev., Idea Pub. Schs., Ser. A (Pre-refunded 08/15/20)(ee) | 6.700 | 08/15/40 | 1,000 | 1,030,570 |
20
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Texas (cont’d.) | |||||
Tarrant Cnty. Cultural Ed. Facs. Fin. Corp. Rev., | |||||
Barton Creek Sr. Living Ctr., Rfdg. | 5.000 % | 11/15/40 | 1,100 | $1,193,753 | |
Trinity Terrace Proj., Ser. A-1, Rfdg. | 5.000 | 10/01/44 | 1,000 | 1,116,510 | |
Texas Mun. Gas Acq. & Sply. Corp., Gas Sply. Rev., Corp. I, Sr. Lien, Ser. A | 5.250 | 12/15/26 | 4,100 | 5,067,026 | |
Texas Priv. Activity Surface Transn. Corp. Rev., | |||||
Sr. Lien, Blueridge Transn., AMT | 5.000 | 12/31/50 | 1,930 | 2,210,197 | |
Sr. Lien, LBJ Infrastructure | 7.000 | 06/30/40 | 4,670 | 4,787,170 | |
Sr. Lien, NTE Mobility Partners, AMT, Ser. 3A & 3B | 6.750 | 06/30/43 | 500 | 584,035 | |
Sr. Lien, NTE Mobility Partners, AMT, Ser. 3A & 3B | 7.000 | 12/31/38 | 1,500 | 1,771,890 | |
94,163,601 | |||||
Utah 0.2% | |||||
Salt Lake City Corp. Arpt. Rev., Ser. A, AMT | 5.000 | 07/01/47 | 1,100 | 1,311,409 | |
Utah Chrt. Sch. Fin. Auth. Rev., Spectrum Academy Proj., 144A | 6.000 | 04/15/45 | 1,000 | 1,002,920 | |
2,314,329 | |||||
Vermont 0.1% | |||||
Vermont Econ. Dev. Auth. Mtge. Rev., Wake Robin Corp. Proj., Rfdg. | 5.400 | 05/01/33 | 1,100 | 1,149,445 | |
Virginia 1.8% | |||||
City of Chesapeake Expressway Toll Road Rev., Transn. Sys., Sr. Ser. B, CABS, Rfdg. (Convert to Fixed on 07/15/23) | 0.000(cc) | 07/15/40 | 1,000 | 1,030,310 | |
Mosaic District Cmnty. Dev. Auth. Spl. Assmt., Ser. A | 6.875 | 03/01/36 | 1,250 | 1,311,050 | |
Norfolk Econ. Dev. Auth. Rev., Sentara Healthcare, Ser. B, Rfdg. | 4.000 | 11/01/48 | 2,000 | 2,291,520 | |
Virginia Small Business Fing. Auth. Rev., Transform 66 P3 Proj., AMT | 5.000 | 12/31/56 | 2,000 | 2,337,600 | |
Virginia Small Business Fing. Auth. Rev., Sr. Lien, | |||||
Elizabeth River Crossings OpCo LLC Proj. | 5.250 | 01/01/32 | 2,055 | 2,238,902 | |
Elizabeth River Crossings OpCo LLC Proj. | 5.500 | 01/01/42 | 3,000 | 3,260,970 | |
Express Lanes LLC Proj. | 5.000 | 01/01/40 | 4,780 | 5,075,117 | |
17,545,469 |
21
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Washington 1.6% | |||||
Port of Seattle Indl. Dev. Corp. Rev., Spl. Facs., Delta Airlines, AMT, Rfdg. | 5.000 % | 04/01/30 | 1,000 | $1,099,700 | |
Skagit Cnty. Pub. Hosp. Dist. No. 1 Rev., | |||||
Skagit Valley Hosp. (Pre-refunded 12/01/20)(ee) | 5.750 | 12/01/35 | 625 | 650,013 | |
Skagit Valley Hosp., Ser. A, Rfdg. | 5.000 | 12/01/37 | 3,000 | 3,305,640 | |
Tob. Settlement Auth. Wash. Rev., Rfdg. | 5.250 | 06/01/32 | 1,160 | 1,217,060 | |
Washington St. Convention Ctr. Pub. Facs. Dist. Rev., Civic Convention Ctr. | 4.000 | 07/01/58 | 2,000 | 2,221,220 | |
Washington St. Healthcare Facs. Auth. Rev., | |||||
Kadlec Regl. Med. Ctr., Rdfg. (Pre-refunded 12/01/21)(ee) | 5.000 | 12/01/42 | 1,000 | 1,074,620 | |
Overlake Hosp. Med. Ctr., Rfdg. | 5.000 | 07/01/38 | 1,100 | 1,257,619 | |
Overlake Hosp. Med. Ctr., Ser. A | 4.000 | 07/01/42 | 2,500 | 2,786,575 | |
Washington St. Hsg. Fin. Comm. Rev., Rockwood Retmnt. Cmnty. Proj., Ser. A, Rfdg., 144A | 7.375 | 01/01/44 | 2,000 | 2,299,700 | |
15,912,147 | |||||
West Virginia 0.2% | |||||
West Virginia Hosp. Fin. Auth. Rev., Cabell Huntington Hosp. Oblig. Grp., Ser. A, Rfdg. | 4.125 | 01/01/47 | 1,500 | 1,656,570 | |
Wisconsin 1.7% | |||||
Pub. Fin. Auth. Rev., | |||||
Bancroft Neurohealth Proj., Ser. A, 144A | 5.125 | 06/01/48 | 1,000 | 1,070,260 | |
Cornerstone Chrt. Academy Proj., Ser. A, 144A | 5.125 | 02/01/46 | 1,000 | 1,053,900 | |
Corvian Cmnty. Sch., Ser. A, 144A | 5.000 | 06/15/49 | 1,000 | 1,048,120 | |
Corvian Cmnty. Sch., Ser. A, 144A | 5.125 | 06/15/47 | 2,000 | 2,093,380 | |
Mountain Island Chrt. Sch., Ser. L, Rfdg. | 5.000 | 07/01/47 | 1,000 | 1,082,510 | |
Senior-MD Proton Treatment Ctr., Ser. A-1, 144A | 6.250 | 01/01/38 | 1,750 | 1,872,097 | |
Senior-MD Proton Treatment Ctr., Ser. A-1, 144A | 6.375 | 01/01/48 | 2,000 | 2,128,140 | |
Sr. Oblig. Grp., Ser. B, AMT, Rfdg. | 5.000 | 07/01/42 | 1,500 | 1,597,965 | |
Sr. Oblig. Grp., Ser. B, AMT, Rfdg. | 5.250 | 07/01/28 | 1,000 | 1,086,860 | |
Wakemed Hosp., Ser. A, Rfdg. | 4.000 | 10/01/49 | 2,000 | 2,210,340 |
22
PGIM Muni High Income Fund
Schedule of Investments as of January 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds(Continued) | |||||
Wisconsin (cont’d.) | |||||
Wisconsin St. Hlth. & Edl. Facs. Auth. Rev., Ascension Hlth. Alliance Sr. Credit Grp., Ser. B-1, Rmkt, Rfdg. | 4.000 % | 11/15/43 | 1,500 | $1,693,950 | |
16,937,522 | |||||
TOTAL INVESTMENTS 99.7% (cost $889,158,045) | 972,884,899 | ||||
Other assets in excess of liabilities 0.3% | 3,097,803 | ||||
Net Assets 100.0% | $975,982,702 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
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. | |
AGM—Assured Guaranty Municipal Corp. | |
AMBAC—American Municipal Bond Assurance Corp. | |
AMT—Alternative Minimum Tax | |
CABS—Capital Appreciation Bonds | |
CDD—Community Development District | |
COP—Certificates of Participation | |
FRDD—Floating Rate Daily Demand Note | |
GO—General Obligation |
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $483,800 and 0.1% of net assets. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of January 31, 2020. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
(ee) | All or partial escrowed to maturity and pre-refunded issues are secured by escrowed cash, a guaranteed investment contract and /or U.S. guaranteed obligations. |
(t) | Represents zero coupon. Rate quoted represents effective yield at January 31, 2020. |
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
23