PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 99.6% | |||||
Municipal Bonds | |||||
Alabama 0.1% | |||||
Jefferson Cnty. Sewer Rev., | |||||
Sr. Lien, Warrants, Ser. A, AGM, Rfdg. | 5.000 % | 10/01/44 | 500 | $560,540 | |
Sr. Lien, Warrants, Ser. A, AGM, Rfdg. | 5.250 | 10/01/48 | 500 | 563,150 | |
1,123,690 | |||||
Alaska 0.8% | |||||
Alaska Indl. Dev. & Export Auth. Rev., Tanana Chiefs Conference Proj., Ser. A | 4.000 | 10/01/49 | 4,040 | 4,614,811 | |
Valdez Marine Term Rev., | |||||
Exxon Pipeline Co. Proj., Ser. B, Rfdg., FRDD (Mandatory put date 08/03/20) | 0.110(cc) | 12/01/33 | 700 | 700,000 | |
Var. Exxon Mobil Corp. Proj., Rfdg., FRDD (Mandatory put date 08/03/20) | 0.140(cc) | 12/01/29 | 1,710 | 1,710,000 | |
7,024,811 | |||||
Arizona 4.3% | |||||
Arizona Indl. Dev. Auth. Rev., | |||||
Basis Schs. Proj., Ser. A, Rfdg., 144A | 5.375 | 07/01/50 | 1,000 | 1,045,850 | |
Cadence Campus Proj., Ser. A, 144A | 4.000 | 07/15/50 | 1,600 | 1,506,288 | |
Pinecrest Academy-Horizon Inspirada & St. Rose Campus, Ser. A, 144A | 5.750 | 07/15/48 | 1,500 | 1,613,250 | |
Maricopa Cnty. Indl. Dev. Auth. Rev., | |||||
Horizon Cmnty. Learning Ctr., Rfdg. | 5.000 | 07/01/35 | 2,000 | 2,144,580 | |
Reid Traditional Schs. Projs. | 5.000 | 07/01/47 | 1,000 | 1,094,840 | |
Phoenix City Indl. Dev. Auth. Rev., | |||||
Basis Schs. Projs., Rfdg., 144A | 5.000 | 07/01/45 | 1,000 | 1,025,270 | |
Basis Schs. Projs., Ser. A, Rfdg., 144A | 5.000 | 07/01/46 | 1,000 | 1,024,780 | |
Great Hearts Academies Proj. | 5.000 | 07/01/44 | 2,250 | 2,395,732 | |
Pima Cnty. Indl. Dev. Auth. Rev., Tucson Elec. Pwr. Co. Proj., Rfdg. | 4.000 | 09/01/29 | 3,000 | 3,193,230 | |
Salt Verde Fin. Corp. Gas Rev., | |||||
Sr. Bonds | 5.000 | 12/01/32 | 4,890 | 6,571,573 | |
Sr. Bonds | 5.000 | 12/01/37 | 10,120 | 14,081,677 | |
Tempe Indl. Dev. Auth. Rev., | |||||
Friendship Vlg. | 5.000 | 12/01/50 | 1,045 | 1,023,128 | |
Friendship Vlg., Ser. A, Rfdg. | 6.250 | 12/01/42 | 1,000 | 1,017,290 | |
37,737,488 |
1
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
California 8.6% | |||||
ABAG Fin. Auth. for Nonprofit Corp. Rev., Episcopal Sr. Cmnty., Rfdg. | 6.125 % | 07/01/41 | 775 | $803,381 | |
California Cnty. Tob. Secur. Agcy. Rev., | |||||
Sr. Ser. A, Rfdg. | 4.000 | 06/01/49 | 1,000 | 1,124,820 | |
Sub., Ser. B-1, Rfdg. | 5.000 | 06/01/49 | 1,500 | 1,759,485 | |
Sub., Ser. B-2, CABS, Rfdg. | 4.422(t) | 06/01/55 | 3,000 | 521,220 | |
California Mun. Fin. Auth. Rev., | |||||
River Chrt. Schs., Ser. A, 144A | 5.500 | 06/01/48 | 750 | 793,088 | |
Sr. Lien, LINXS APM Proj., Ser. A, AMT | 5.000 | 12/31/43 | 2,000 | 2,324,880 | |
Var. Chevron USA, Rec. Zone, Ser. A, FRDD (Mandatory put date 08/03/20) | 0.140(cc) | 11/01/35 | 2,950 | 2,950,000 | |
Var. Exxon Mobil Corp. Proj., Rfdg., FRDD (Mandatory put date 08/03/20) | 0.160(cc) | 12/01/29 | 800 | 800,000 | |
California Poll. Ctrl. Fing. Auth. Rev., | |||||
Green Bond, Calplant I Proj., AMT, 144A | 8.000 | 07/01/39(d) | 2,750 | 1,476,307 | |
Wtr. Facs., Amer. Wtr. Cap. Corp. Proj., 144A | 5.250 | 08/01/40 | 500 | 501,315 | |
California St. Pub. Wks. Brd. Lease Rev., Judicial Council Proj., Ser. D | 5.000 | 12/01/31 | 1,000 | 1,060,100 | |
California St. Sch. Fin. Auth. Chrt. Sch. Rev., | |||||
Alliance Clg.-Ready Pub. Schs., Ser. A, 144A | 5.000 | 07/01/45 | 750 | 821,895 | |
Kipp LA Proj., Ser. A, 144A | 5.000 | 07/01/45 | 650 | 712,289 | |
Kipp LA Proj., Ser. A, 144A | 5.000 | 07/01/47 | 820 | 924,747 | |
California Statewide Cmntys. Dev. Auth. Rev., | |||||
899 Charleston Proj., Ser. A, Rfdg., 144A | 5.250 | 11/01/44 | 750 | 773,603 | |
CHF Irvine LLC, Rfdg. | 5.000 | 05/15/29 | 1,405 | 1,602,852 | |
CHF Irvine LLC, Rfdg. | 5.000 | 05/15/40 | 1,030 | 1,120,897 | |
Loma Linda Univ. Med. Ctr., Ser. A, 144A | 5.250 | 12/01/43 | 4,475 | 5,001,528 | |
Loma Linda Univ. Med. Ctr., Ser. A, 144A | 5.250 | 12/01/56 | 3,500 | 3,829,525 | |
Loma Linda Univ. Med. Ctr., Ser. A, 144A | 5.500 | 12/01/58 | 1,500 | 1,704,540 | |
Loma Linda Univ. Med. Ctr., Ser. A, Rfdg. | 5.250 | 12/01/44 | 2,500 | 2,670,775 | |
Golden St. Tob. Secur. Corp., Tob. Settlement Rev., | |||||
Asset Bkd., 1st Sub., Ser. B, CABS, Rfdg. | (5.000)(t) | 06/01/47 | 10,000 | 2,101,700 | |
Asset Bkd., Sr., Ser. A-2, CABS, Rfdg. | 5.300(cc) | 06/01/37 | 5,000 | 5,160,950 | |
Ser. A-1, Rfdg. | 5.000 | 06/01/47 | 5,235 | 5,351,165 | |
Ser. A-1, Rfdg. | 5.250 | 06/01/47 | 5,150 | 5,285,085 | |
Ser. A-2, Rfdg. | 5.000 | 06/01/47 | 1,500 | 1,533,285 | |
Inland Valley Dev. Agcy. Tax Alloc., Ser. A, Rfdg. | 5.000 | 09/01/44 | 1,000 | 1,121,450 | |
Irvine Unified Sch. Dist. Spl. Tax, Ser. A | 4.000 | 09/01/44 | 1,000 | 1,216,220 | |
Lincoln Pub. Fing. Auth. Spl. Assmt., Twelve Bridges, Sub., Ser. B, Rfdg. | 6.000 | 09/02/27 | 972 | 1,006,739 |
2
PGIM Muni High Income Fund
Schedule of Investments as of July 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., | |||||
Ser. A | 5.000 % | 11/15/35 | 3,800 | $5,239,478 | |
Ser. A | 5.500 | 11/15/37 | 685 | 1,014,903 | |
M-S-R Energy Auth. Calif. Rev., | |||||
Ser. A | 6.500 | 11/01/39 | 2,060 | 3,364,268 | |
Ser. A | 7.000 | 11/01/34 | 1,650 | 2,596,935 | |
Port of Oakland Rev., Ser. O, AMT, Rfdg. | 5.125 | 05/01/31 | 1,000 | 1,029,740 | |
Riverside Cnty. Pub. Fing. Auth. Rev., Capital Facs. Proj. | 5.250 | 11/01/45 | 1,000 | 1,198,220 | |
San Buenaventura Rev., | |||||
Cmnty. Mem. Hlth. Sys. | 7.500 | 12/01/41 | 1,000 | 1,019,680 | |
Cmnty. Mem. Hlth. Sys. | 8.000 | 12/01/26 | 500 | 520,865 | |
San Francisco City & Cnty. Arpt. Comm. Rev., | |||||
Second Ser. C, AMT, Rfdg. (Pre-refunded 05/01/21)(ee) | 5.000 | 05/01/25 | 5 | 5,170 | |
Second Ser. C, AMT, Unrefunded, Rfdg. | 5.000 | 05/01/25 | 995 | 1,026,352 | |
Santa Margarita Wtr. Dist. Spl. Tax Cmty. Facs., Vlg. of Sendero, Ser. 2013-1 | 5.625 | 09/01/36 | 645 | 708,481 | |
Southern California Tob. Secur. Auth. Rev., San Diego Co. Tob., CABS, Rfdg. | 4.472(t) | 06/01/54 | 3,000 | 509,970 | |
74,287,903 | |||||
Colorado 3.1% | |||||
City & Cnty. of Denver Arpt. Sys. Rev., Sub. Sys., Ser. A, AMT, Rfdg. | 4.000 | 12/01/48 | 2,000 | 2,218,160 | |
Colorado Edl. & Cultural Facs. Auth. Rev., | |||||
Impt., Chrt. Sch. Skyview Academy Proj., Rfdg., 144A | 5.375 | 07/01/44 | 1,350 | 1,396,103 | |
Impt., Chrt. Sch. Univ. LA, Rfdg. | 5.000 | 12/15/45 | 1,000 | 1,086,280 | |
Lighthouse Bldg. Corp., Rfdg. | 5.000 | 11/01/44 | 885 | 946,720 | |
Windsor Chrt. Sch., Rfdg., 144A | 5.000 | 09/01/46 | 1,390 | 1,333,802 | |
Colorado Hlth. Facs. Auth. Rev., | |||||
Commonspirit Hlth., Ser. A, Rfdg. | 4.000 | 08/01/49 | 5,000 | 5,464,250 | |
Covenant Retirement Cmntys., Rfdg. | 5.000 | 12/01/35 | 1,250 | 1,335,137 | |
Vail Valley Med. Ctr. Proj. | 4.000 | 01/15/45 | 2,500 | 2,715,900 | |
E-470 Pub. Hwy. Auth. Rev., Ser. C, Rfdg. | 5.375 | 09/01/26 | 1,000 | 1,003,780 | |
Park Creek Met. Dist. Ltd. Ppty. Tax Alloc. Rev., Sr. Lmt. Prop. TA., Rfdg. | 5.000 | 12/01/45 | 1,500 | 1,726,890 |
3
PGIM Muni High Income Fund
Schedule of Investments as of July 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 | $1,016,920 | |
Pub. Auth. Energy Nat. Gas Pur. Rev., Nat. Gas Util. Imps. | 6.500 | 11/15/38 | 4,045 | 6,376,619 | |
26,620,561 | |||||
Connecticut 0.2% | |||||
Harbor Point Infrastructure Impt. Dist. Spl. Assmt., Harbor Point Proj., Rfdg., 144A | 5.000 | 04/01/39 | 2,000 | 2,120,640 | |
Delaware 0.2% | |||||
Delaware St. Econ. Dev. Auth. Rev., Newark Chrt. Sch., Inc., Ser. A, Rfdg. | 5.000 | 09/01/46 | 500 | 545,825 | |
Delaware St. Hlth. Facs. Auth. Rev., Nanticoke Mem. Hosp., Rfdg. (Pre-refunded 07/01/23)(ee) | 5.000 | 07/01/32 | 1,375 | 1,569,301 | |
2,115,126 | |||||
District of Columbia 1.9% | |||||
Dist. of Columbia, Rev., | |||||
Dist. of Columbia Intl., Oblig. Grp. | 5.000 | 07/01/54 | 1,000 | 1,080,920 | |
Friendship Pub. Chrt. Sch. | 5.000 | 06/01/42 | 3,500 | 3,615,255 | |
Gallaudet Univ. | 5.500 | 04/01/34 | 400 | 411,784 | |
Kipp Chrt. Sch., Rfdg. (Pre-refunded 07/01/23)(ee) | 6.000 | 07/01/43 | 850 | 994,611 | |
Kipp Chrt. Sch., Rfdg. (Pre-refunded 07/01/23)(ee) | 6.000 | 07/01/48 | 725 | 848,344 | |
Kipp DC Iss., Ser. A, Rfdg. | 5.000 | 07/01/37 | 1,250 | 1,407,075 | |
Kipp DC Proj. | 4.000 | 07/01/49 | 1,000 | 1,052,050 | |
Rocketship DC, Oblig. Grp., Ser. A, 144A | 5.000 | 06/01/49 | 2,000 | 2,039,720 | |
Metropolitan Washington D.C. Arpt. Auth. Sys. Rev., | |||||
Dulles Toll Rd., Ser. A, Rfdg. | 5.000 | 10/01/53 | 2,500 | 2,604,525 | |
Dulles Toll Rd., Sub., Ser. B, Rfdg. | 4.000 | 10/01/49 | 2,000 | 2,215,940 | |
16,270,224 | |||||
Florida 9.2% | |||||
Broward Cnty. Port Facs. Rev., Sr. Bond, Ser. B, AMT | 4.000 | 09/01/49 | 2,000 | 2,154,920 | |
Broward Cnty. Sys. Arpt. Rev., | |||||
Ser. A, AMT | 4.000 | 10/01/49 | 1,500 | 1,685,430 | |
Ser. A, AMT, (Pre-refunded 10/01/23)(ee) | 5.250 | 10/01/43 | 1,500 | 1,730,085 |
4
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Florida (cont’d.) | |||||
Capital Tr. Agcy. Rev., | |||||
Air Cargo, Aero Miami FX LLC, Sr. Lien, Ser. A, Rfdg. | 5.350 % | 07/01/29 | 1,660 | $1,663,021 | |
Wonderful Fndtn. Chrt. Sch. Port., Ser. A-1, 144A | 5.000 | 01/01/55 | 1,000 | 1,028,100 | |
Citizens Ppty. Ins. Corp. Rev., Sr. Sec’d., Ser. A-1 | 5.000 | 06/01/22 | 1,000 | 1,081,940 | |
Cityplace CDD Spl. Assmt., Rfdg. | 5.000 | 05/01/26 | 1,000 | 1,138,600 | |
Davie Edl. Facs. Rev., | |||||
Nova Southeastern Univ. Proj., Ser. A (Pre-refunded 04/01/23)(ee) | 5.625 | 04/01/43 | 500 | 572,620 | |
Nova Southeastern Univ. Proj., Ser. A (Pre-refunded 04/01/23)(ee) | 6.000 | 04/01/42 | 1,000 | 1,155,190 | |
Florida Dev. Fin. Corp. Rev., | |||||
Bay Area Chrt. Fndtn., Ser. A | 7.750 | 06/15/42 | 2,000 | 2,082,460 | |
Renaissance Chrt. Sch., Rfdg., 144A | 5.000 | 09/15/50 | 2,000 | 2,123,100 | |
Renaissance Chrt. Sch., Ser. A | 6.000 | 09/15/40 | 1,750 | 1,752,573 | |
Virgin Trains USA Pass, Ser. A, AMT, Rfdg. (Mandatory put date 01/01/29), 144A | 6.500(cc) | 01/01/49 | 5,000 | 4,319,400 | |
Florida Higher Edl. Facs. Finl. Auth. Rev., Ringling Clg. Proj. | 5.000 | 03/01/42 | 4,510 | 5,170,760 | |
Greater Orlando Aviation Auth. Orlando Arpt. Facs. Rev., | |||||
Priority, Sub-Ser. A, AMT | 4.000 | 10/01/52 | 3,350 | 3,657,664 | |
Spl. Purp. - JetBlue Airways Corp. Proj., Rfdg. | 5.000 | 11/15/36 | 4,700 | 4,730,268 | |
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 | 1,044,770 | |
Lakewood Nat’l. & Polo Run Projs. | 4.625 | 05/01/27 | 500 | 535,705 | |
Lakewood Nat’l. & Polo Run Projs. | 5.375 | 05/01/47 | 1,000 | 1,091,010 | |
N E Sector Proj., Phase 1B | 5.450 | 05/01/48 | 1,000 | 1,119,300 | |
Stewardship Dist., Azario Proj. | 4.000 | 05/01/50 | 1,000 | 1,012,860 | |
Vlg. Lakewood Ranch S. Proj. | 4.250 | 05/01/26 | 250 | 261,015 | |
Vlg. Lakewood Ranch S. Proj. | 5.125 | 05/01/46 | 1,400 | 1,479,380 | |
Martin Cnty. Indl. Dev. Auth. Rev., | |||||
Indiantown Cogeneration Proj., Rfdg., 144A | 3.950 | 12/15/21 | 1,750 | 1,753,605 | |
Indiantown Cogeneration Proj., Rfdg., 144A | 4.200 | 12/15/25 | 1,000 | 1,002,200 | |
Midtown Miami Cmnty. Dev. Dist. Spl. Assmt., Pkg. Garage Proj., Ser. A, Rfdg. | 5.000 | 05/01/37 | 1,980 | 2,046,092 | |
North Sumter Cnty. Util. Dependent Dist., | |||||
Solid Wste. Rev. | 5.000 | 10/01/42 | 2,000 | 2,139,340 | |
Util. Rev. | 5.750 | 10/01/43 | 1,500 | 1,513,365 | |
5
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Florida (cont’d.) | |||||
Orange Cnty. Hlth. Facs. Auth. Rev., Orlando Hlth. Oblig. Grp., Ser. A | 4.000 % | 10/01/49 | 3,450 | $3,870,728 | |
Osceola Cnty. Transn. Rev., | |||||
Ser. A-1, Rfdg. | 4.000 | 10/01/54 | 1,500 | 1,654,755 | |
Ser. A-2, CABS, Rfdg. | 3.230(t) | 10/01/54 | 1,000 | 301,030 | |
Palm Beach Cnty. Hlth. Facs. Auth. Rev., | |||||
BRRH Corp. Oblig. Grp., Rfdg. (Pre-refunded 12/01/24)(ee) | 5.000 | 12/01/31 | 500 | 602,625 | |
Sinai Residences Boca Raton Proj., Ser. A, Rfdg. | 7.500 | 06/01/49 | 1,000 | 1,055,410 | |
Sarasota Cnty. Pub. Hosp. Dist. Rev., Sarasota Mem. Hosp. | 4.000 | 07/01/48 | 5,000 | 5,503,900 | |
South Miami Hlth. Facs. Auth. Rev., Baptist Hlth. South Florida, Rfdg. | 5.000 | 08/15/47 | 1,000 | 1,165,840 | |
Tallahassee Hlth. Facs. Mem. Rev., Ser. A | 5.000 | 12/01/55 | 1,430 | 1,569,239 | |
Village CDD No. 7, Fla. Spl. Assmt., Rfdg. | 4.000 | 05/01/36 | 1,860 | 1,991,260 | |
Village CDD No. 9, | |||||
Fla. Spl. Assmt. | 7.000 | 05/01/41 | 715 | 731,295 | |
Fla. Spl. Assmt., Rfdg. | 5.500 | 05/01/42 | 2,005 | 2,059,676 | |
Village CDD No.10, | |||||
Fla. Spl. Assmt. | 5.125 | 05/01/43 | 1,065 | 1,095,960 | |
Fla. Spl. Assmt. | 6.000 | 05/01/44 | 900 | 949,068 | |
Village CDD No.11, Fla. Spl. Assmt. | 4.500 | 05/01/45 | 1,365 | 1,424,855 | |
Village CDD No.12, Fla. Spl. Assmt., 144A | 4.250 | 05/01/43 | 2,875 | 3,085,651 | |
Village CDD No.13, | |||||
Fla. Spl. Assmt. | 3.550 | 05/01/39 | 500 | 517,295 | |
Fla. Spl. Assmt. | 3.700 | 05/01/50 | 1,000 | 991,930 | |
80,099,090 | |||||
Georgia 0.8% | |||||
Atlanta Arpt. Rev., Gen., Ser. B, AMT, Rfdg. | 5.000 | 01/01/30 | 500 | 508,810 | |
Burke Cnty. Dev. Auth. Rev., Oglethorpe Pwr. Corp.-Vogtle Proj., Ser. D, Rfdg. | 4.125 | 11/01/45 | 2,000 | 2,193,840 | |
Clayton Cnty. Dev. Auth. Spl. Facs. Rev., Delta Air Lines, Ser. A, Rfdg. | 8.750 | 06/01/29 | 1,867 | 1,878,070 |
6
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Georgia (cont’d.) | |||||
Priv. Colleges & Univs. Auth. Rev., Savannah Clg. Art & Design Proj. | 5.000 % | 04/01/44 | 1,500 | $1,669,575 | |
Rockdale Cnty. Dev. Auth. Rev., Pratt Paper LLC Proj., AMT, Rfdg., 144A | 4.000 | 01/01/38 | 1,000 | 1,047,740 | |
7,298,035 | |||||
Guam 0.1% | |||||
Guam Govt. Wtrwks. Auth. Rev., Ser. A | 5.000 | 01/01/50 | 1,000 | 1,224,070 | |
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 | 2,797,700 | |
Illinois 14.7% | |||||
Chicago Brd. of Edu., | |||||
GO, Ser. A | 5.500 | 12/01/39 | 635 | 648,989 | |
GO, Ser. A, 144A | 7.000 | 12/01/46 | 1,500 | 1,853,820 | |
GO, Ser. A, Rfdg. | 4.000 | 12/01/27 | 500 | 532,620 | |
GO, Ser. A, Rfdg. | 5.000 | 12/01/35 | 500 | 548,040 | |
GO, Ser. A, Rfdg. | 7.000 | 12/01/44 | 3,390 | 3,973,588 | |
GO, Ser. C | 5.250 | 12/01/35 | 1,015 | 1,079,361 | |
GO, Ser. D | 5.000 | 12/01/46 | 2,470 | 2,656,707 | |
GO, Ser. G, Rfdg. | 5.000 | 12/01/34 | 2,155 | 2,346,838 | |
GO, Ser. H | 5.000 | 12/01/46 | 2,390 | 2,549,413 | |
Chicago Brd. of Edu., Rev., Spl. Tax | 6.000 | 04/01/46 | 1,500 | 1,742,490 | |
Chicago O’Hare Int’l. Arpt. Rev., | |||||
Gen., Sr. Lien, Ser. B, AGM, Rfdg. | 4.000 | 01/01/53 | 3,005 | 3,446,615 | |
Gen., Sr. Lien, Ser. C, AMT, Rfdg. | 5.375 | 01/01/39 | 1,500 | 1,634,280 | |
Ser. C, AMT, Rfdg. | 4.375 | 01/01/40 | 2,000 | 2,185,800 | |
Trips Oblig. Grp., AMT | 5.000 | 07/01/48 | 1,000 | 1,140,640 | |
Chicago Transit Auth. Rev., Second Lien | 5.000 | 12/01/46 | 5,000 | 5,596,750 | |
Chicago Wstwtr. Transmn. Rev., Second Lien, Ser. C, Rmkt., Rfdg. | 5.000 | 01/01/39 | 3,355 | 3,685,534 | |
Chicago, IL, | |||||
GO, Ser. 2003 B, Rmkt., Rfdg. | 5.000 | 01/01/23 | 750 | 790,268 | |
GO, Ser. 2005 D, Rmkt., Rfdg. | 5.500 | 01/01/37 | 6,520 | 7,092,456 | |
GO, Ser. 2007 E, Rmkt., Rfdg. | 5.500 | 01/01/35 | 3,000 | 3,275,610 |
7
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Illinois (cont’d.) | |||||
Chicago, IL, (cont’d.) | |||||
GO, Ser. A | 5.500 % | 01/01/39 | 1,865 | $2,020,895 | |
GO, Ser. A, Rfdg. | 5.000 | 01/01/27 | 1,525 | 1,693,604 | |
GO, Ser. A, Rfdg. | 5.000 | 01/01/31 | 1,500 | 1,708,005 | |
GO, Ser. A, Rfdg. | 5.000 | 01/01/34 | 3,650 | 3,850,203 | |
GO, Ser. A, Rfdg. | 5.500 | 01/01/49 | 3,000 | 3,374,160 | |
GO, Ser. A, Rfdg. | 6.000 | 01/01/38 | 2,500 | 2,894,400 | |
GO, Ser. C, Rfdg. | 5.000 | 01/01/26 | 1,000 | 1,098,580 | |
GO, Ser. C, Rfdg. | 5.000 | 01/01/38 | 2,500 | 2,687,600 | |
Illinois Edl. Facs. Auth. Rev., Field Museum of Natural History, Rmkt. | 4.450 | 11/01/36 | 1,075 | 1,238,808 | |
Illinois Fin. Auth. Rev., | |||||
Impt., Chicago Intl., Rfdg. | 5.000 | 12/01/47 | 1,000 | 1,047,720 | |
Navistar Intl. Corp. Proj., Rfdg. (Mandatory put date 08/01/30), 144A(hh) | 4.750(cc) | 10/15/40 | 1,500 | 1,529,010 | |
Northshore Univ. Hlth. Sys., Ser. A, Rfdg. | 4.000 | 08/15/41 | 1,000 | 1,159,190 | |
Presence Hlth. Netw. Ser. C, Rfdg. (Pre-refunded 02/15/27)(ee) | 4.000 | 02/15/41 | 10 | 12,308 | |
Presence Hlth. Netw. Ser. C, Rfdg. (Pre-refunded 02/15/27)(ee) | 4.000 | 02/15/41 | 265 | 326,162 | |
Presence Hlth. Netw. Ser. C, Unrefunded, Rfdg. | 4.000 | 02/15/41 | 5,725 | 6,406,447 | |
Illinois St., | |||||
GO | 4.000 | 06/01/36 | 3,000 | 3,102,510 | |
GO | 5.000 | 04/01/31 | 2,000 | 2,168,380 | |
GO | 5.000 | 01/01/32 | 1,335 | 1,478,179 | |
GO | 5.000 | 05/01/33 | 950 | 1,024,509 | |
GO | 5.000 | 03/01/36 | 1,800 | 1,866,690 | |
GO | 5.000 | 05/01/36 | 2,000 | 2,139,080 | |
GO | 5.000 | 02/01/39 | 2,215 | 2,350,071 | |
GO | 5.000 | 05/01/39 | 2,000 | 2,126,940 | |
GO | 5.250 | 07/01/31 | 1,000 | 1,075,820 | |
GO | 5.500 | 05/01/30 | 1,500 | 1,855,410 | |
GO | 5.500 | 05/01/39 | 2,500 | 2,976,250 | |
GO, Rebuild Illinois Prog., Ser. B | 4.000 | 11/01/35 | 2,000 | 2,104,360 | |
GO, Rfdg. | 5.000 | 08/01/25 | 1,000 | 1,051,850 | |
GO, Ser. A | 5.000 | 01/01/33 | 2,000 | 2,069,120 | |
GO, Ser. A | 5.000 | 01/01/34 | 1,600 | 1,654,512 | |
GO, Ser. A | 5.000 | 12/01/39 | 2,500 | 2,783,550 | |
GO, Ser. A, Rfdg. | 5.000 | 10/01/28 | 1,250 | 1,460,587 | |
GO, Ser. C | 5.000 | 11/01/29 | 2,800 | 3,200,764 | |
GO, Ser. D | 5.000 | 11/01/26 | 1,500 | 1,709,355 | |
GO, Ser. D | 5.000 | 11/01/27 | 950 | 1,097,887 |
8
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Illinois (cont’d.) | |||||
Regl. Transn. Auth. Rev., | |||||
Ser. A | 4.000 % | 06/01/38 | 4,015 | $4,390,041 | |
Ser. A | 4.000 | 06/01/39 | 3,015 | 3,296,872 | |
Sales Tax Securitization Corp. Rev., Second Lien, Ser. A, Rfdg. | 4.000 | 01/01/38 | 1,000 | 1,105,650 | |
Springfield Elec. Rev., Sr. Lien, Rfdg., AGM | 4.000 | 03/01/40 | 1,500 | 1,633,215 | |
127,548,513 | |||||
Indiana 0.6% | |||||
Indiana St. Fin. Auth. Rev., Drexel Fndtn. Edl. Facs. Proj., Ser. A | 7.000 | 10/01/39 | 1,000 | 1,000,860 | |
Valparaiso Rev., | |||||
Pratt Paper LLC Proj., AMT | 5.875 | 01/01/24 | 600 | 632,964 | |
Pratt Paper LLC Proj., AMT | 7.000 | 01/01/44 | 1,500 | 1,668,240 | |
Vigo Cnty. Hosp. Auth. Rev., Union Hosp., Inc., Rfdg. (Pre-refunded 09/01/21)(ee) | 7.750 | 09/01/31 | 1,500 | 1,620,090 | |
4,922,154 | |||||
Iowa 0.1% | |||||
Iowa St. Fin. Auth. Rev., | |||||
Lifespace Cmntys., Inc. | 2.875 | 05/15/49 | 750 | 751,178 | |
Midwstrn. Disaster Area, Iowa Fertilizer Co. Proj., Rfdg. | 3.125 | 12/01/22 | 415 | 414,207 | |
1,165,385 | |||||
Kansas 0.2% | |||||
Overland Park Dev. Corp. Rev., Rfdg. | 5.000 | 03/01/49 | 1,000 | 1,039,780 | |
Wyandotte Cnty.-Kansas City Unified Govt. Rev., Legends Apts. Garage & West Lawn Proj. | 4.500 | 06/01/40 | 910 | 883,464 | |
1,923,244 | |||||
Kentucky 0.5% | |||||
Kentucky Econ. Dev. Fin. Auth. Hosp. Facs. Rev., Baptist Healthcare Sys., Ser. B | 5.000 | 08/15/46 | 3,500 | 3,972,675 |
9
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
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 | $2,074,940 | |
Louisiana Loc. Govt. Envir. Facs. & Cmnty. Dev. Auth. Rev., Westlake Chem. Corp., Ser. A-2 | 6.500 | 11/01/35 | 1,000 | 1,011,470 | |
Louisiana Pub. Facs. Auth. Rev., Ochsner Clinic Fndtn. Proj., Rfdg. | 5.000 | 05/15/47 | 1,000 | 1,125,500 | |
New Orleans Sewerage Serv. Rev., Rfdg. | 5.000 | 06/01/44 | 1,000 | 1,136,550 | |
Parish of St. James, Rev., Nustar Logistics LP Proj., Ser. 2010, Rmkt., 144A | 6.350 | 07/01/40 | 1,000 | 1,196,980 | |
6,545,440 | |||||
Maine 0.2% | |||||
Maine St. Hlth. & Higher Edl. Facs. Auth. Rev., Maine General Med. Ctr. | 7.500 | 07/01/32 | 2,000 | 2,073,720 | |
Maryland 1.0% | |||||
Frederick Cnty. Spl. Oblig. Tax, | |||||
Jefferson Tech. Park, Ser. B, 144A | 7.125 | 07/01/43 | 1,970 | 1,796,837 | |
Sub. Urbana Cmnty. Dev. Auth., Ser. B | 5.500 | 07/01/40 | 4,101 | 4,111,293 | |
Howard Cnty. Tax Alloc., Annapolis Junction Twn. Ctr. Proj. | 6.100 | 02/15/44 | 1,420 | 1,393,418 | |
Maryland Econ. Dev. Corp., Poll. Ctrl. Rev., Transn. Facs. Proj., Ser. A, Rfdg. | 5.000 | 06/01/35 | 1,000 | 1,100,430 | |
8,401,978 | |||||
Michigan 0.6% | |||||
Michigan Fin. Auth. Rev., Great Lakes Wtr. Auth., Sr. Lien, Ser. C-1, (Pre-refunded 07/01/22)(ee) | 5.000 | 07/01/44 | 1,000 | 1,092,570 | |
Michigan St. Bldg. Auth. Rev., Facs. Prog., Ser. I-A, Rfdg. | 5.375 | 10/15/41 | 750 | 791,550 | |
Oakland Cnty. Econ. Dev. Corp. Oblg. Rev., Roman Catholic Archdiocese Detroit, Rfdg. | 6.500 | 12/01/20 | 470 | 479,348 |
10
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Michigan (cont’d.) | |||||
Summit Academy Rev., Rfdg. | 6.250 % | 11/01/25 | 1,380 | $1,382,194 | |
Wayne Cnty. Arpt. Auth. Rev., Detroit Met. Arpt., Ser. D, AMT, Rfdg. | 5.000 | 12/01/28 | 1,500 | 1,638,405 | |
5,384,067 | |||||
Minnesota 1.0% | |||||
Hugo Rev., Chrt. Sch. Lease, Noble Academy Proj., Ser. A | 5.000 | 07/01/44 | 1,250 | 1,282,300 | |
Rochester Rev., Mayo Clinic | 4.000 | 11/15/48 | 3,000 | 3,405,300 | |
St. Cloud Rev., Centracare Hlth., Ser. A, Rfdg. | 4.000 | 05/01/37 | 1,250 | 1,381,613 | |
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 | 1,242,100 | |
St. Paul Port Auth. Sol. Wste. Disp. Rev., Gerdau St. Paul Steel Mill Proj., Ser. 7, 144A | 4.500 | 10/01/37 | 1,000 | 994,320 | |
8,305,633 | |||||
Mississippi 1.5% | |||||
Mississippi Bus. Fin. Corp. Rev., | |||||
Var. Chevron USA, Inc. Proj., Ser. E, FRDD (Mandatory put date 08/03/20) | 0.140(cc) | 12/01/30 | 2,150 | 2,150,000 | |
Var. Chevron USA, Ser. C, FRDD (Mandatory put date 08/03/20) | 0.140(cc) | 11/01/35 | 500 | 500,000 | |
Var. Chevron USA, Ser. D, FRDD (Mandatory put date 08/03/20) | 0.140(cc) | 11/01/35 | 2,575 | 2,575,000 | |
Var. Chevron USA, Ser. F, FRDD (Mandatory put date 08/03/20) | 0.140(cc) | 11/01/35 | 7,005 | 7,005,000 | |
Var. Chevron USA, Ser. G, FRDD (Mandatory put date 08/03/20) | 0.140(cc) | 11/01/35 | 600 | 600,000 | |
12,830,000 | |||||
Missouri 2.1% | |||||
Lees Summit, Tax Alloc., Impt., Summit Fair Proj., Rfdg., 144A | 4.875 | 11/01/37 | 2,000 | 2,031,760 | |
Missouri St. Hlth. & Edl. Facs. Auth. Rev., | |||||
BJC Hlth. Sys., Ser. A | 4.000 | 01/01/45 | 2,010 | 2,196,166 | |
Lutheran Sr. Svcs. | 6.000 | 02/01/41 | 1,000 | 1,013,860 |
11
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Missouri (cont’d.) | |||||
Missouri St. Hlth. & Edl. Facs. Auth. Rev., (cont’d.) | |||||
Lutheran Sr. Svcs., Rfdg. | 4.000 % | 02/01/42 | 1,115 | $1,099,836 | |
Lutheran Sr. Svcs., Rfdg. | 4.000 | 02/01/48 | 2,000 | 1,960,780 | |
Lutheran Sr. Svcs., Rfdg. | 5.000 | 02/01/44 | 4,000 | 4,130,520 | |
Poplar Bluff Regl. Transn. Dev. Dist. Rev., Transn. Sales Tax | 4.750 | 12/01/42 | 2,100 | 2,163,777 | |
St. Louis Cnty. Indl. Dev. Auth. Rev., | |||||
Friendship Vlg. St. Louis Oblig. Grp., Ser. A | 5.250 | 09/01/53 | 2,000 | 2,059,780 | |
Friendship Vlg. Sunset Hills, Ser. A | 5.875 | 09/01/43 | 1,000 | 1,043,540 | |
St. Andrews Res. Srs. Oblig., Ser. A, Rfdg. | 5.125 | 12/01/45 | 1,000 | 940,580 | |
18,640,599 | |||||
Nevada 0.2% | |||||
Clark Cnty. Impt. Dist. Spl. Assmt., Dist. No. 142, Mountains Edge Loc. Impvt., Rfdg. | 4.000 | 08/01/23 | 1,130 | 1,204,026 | |
Sparks Rev., Sales Tax, Sr. Ser. A, Rfdg., 144A | 2.750 | 06/15/28 | 1,000 | 956,200 | |
2,160,226 | |||||
New Jersey 8.3% | |||||
New Jersey Econ. Dev. Auth. Rev., | |||||
Continental Airlines, Inc., Proj., Spec. Facs. | 5.250 | 09/15/29 | 5,000 | 5,141,150 | |
Continental Airlines, Inc., United Airlines, Inc. Proj. | 5.125 | 09/15/23 | 5,000 | 5,122,650 | |
Continental Airlines, Inc., United Airlines, Inc. Proj., Ser. A, AMT | 5.625 | 11/15/30 | 2,275 | 2,368,548 | |
Goethals Bridge, AMT | 5.375 | 01/01/43 | 1,390 | 1,531,530 | |
N. Star Academy Chrt. Sch. Newark | 5.000 | 07/15/47 | 1,000 | 1,109,790 | |
NJ Transit Trans. Proj. | 4.000 | 11/01/44 | 1,000 | 1,064,600 | |
NJ Transit Trans. Proj. | 5.000 | 11/01/44 | 2,000 | 2,317,320 | |
Port Newark Container, AMT, Rfdg. | 5.000 | 10/01/47 | 2,500 | 2,740,225 | |
Sch. Facs. Construction | 4.000 | 06/15/49 | 3,000 | 3,187,290 | |
Ser. AAA | 5.000 | 06/15/41 | 2,020 | 2,261,834 | |
Ser. BBB, Rfdg. | 5.500 | 06/15/30 | 1,500 | 1,791,345 | |
Ser. DDD | 5.000 | 06/15/42 | 1,000 | 1,125,490 | |
Ser. WW, (Pre-refunded 06/15/25)(ee) | 5.250 | 06/15/40 | 65 | 80,611 | |
Ser. WW, Unrefunded | 5.250 | 06/15/40 | 1,185 | 1,323,657 | |
St. Gov’t. Bldgs. Proj., Ser. C | 5.000 | 06/15/47 | 2,000 | 2,254,680 | |
St. House Proj., Ser. B, Rmkt. | 5.000 | 06/15/43 | 1,000 | 1,148,020 | |
Team Academy Chrt. Sch. Proj. | 6.000 | 10/01/43 | 1,700 | 1,852,864 | |
Umm Energy Partners, Ser. A, AMT | 5.000 | 06/15/37 | 1,500 | 1,575,720 | |
Umm Energy Partners, Ser. A, AMT | 5.125 | 06/15/43 | 1,100 | 1,141,965 |
12
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
New Jersey (cont’d.) | |||||
New Jersey Econ. Dev. Auth. Rev., (cont’d.) | |||||
United Airlines, Inc. Proj., Rmkt. | 5.500 % | 06/01/33 | 2,000 | $2,046,260 | |
New Jersey Healthcare Facs. Fing. Auth. Rev., RWJ Barnabas Healthcare Sys. Oblig., Ser. A, Rfdg. | 5.000 | 07/01/43 | 1,500 | 1,765,215 | |
New Jersey St. Transn. Tr. Fd. Sys. Auth. Rev., | |||||
Trans. Sys., Rfdg. | 4.000 | 12/15/39 | 500 | 539,215 | |
Trans. Sys., Rfdg. | 5.000 | 12/15/39 | 500 | 587,185 | |
Trans. Sys., Ser. A, Rfdg. | 5.000 | 12/15/36 | 1,250 | 1,464,175 | |
Trans. Sys., Ser. AA | 5.000 | 06/15/45 | 1,200 | 1,306,164 | |
Trans. Sys., Ser. AA | 5.000 | 06/15/46 | 1,940 | 2,217,401 | |
Trans. Sys., Ser. AA | 5.250 | 06/15/41 | 1,000 | 1,113,500 | |
Trans. Sys., Ser. AA | 5.250 | 06/15/43 | 4,595 | 5,401,744 | |
New Jersey Tpk. Auth. Rev., Ser. A | 4.000 | 01/01/48 | 1,000 | 1,130,470 | |
South Jersey Transn. Auth. LLC, Rev., Ser. A, Rfdg. | 5.000 | 11/01/39 | 750 | 816,885 | |
Tob. Settlement Fing. Corp. Rev., | |||||
Ser. A, Rfdg. | 5.250 | 06/01/46 | 5,350 | 6,319,901 | |
Sub., Ser. B, Rfdg. | 5.000 | 06/01/46 | 7,000 | 7,875,070 | |
71,722,474 | |||||
New York 6.4% | |||||
Build NYC Resource Corp. Rev., Pratt Paper, Inc. Proj., AMT, Rfdg., 144A | 5.000 | 01/01/35 | 1,000 | 1,051,380 | |
Erie Cnty. Tob. Asset Secur. Corp. Cap. Apprec. Rev., | |||||
Asset Bkd., 1st Sub., Ser. B, CABS, Rfdg. | 7.260(t) | 06/01/47 | 5,000 | 737,650 | |
Asset Bkd., 2nd Sub., Ser. C, CABS, Rfdg., 144A | 7.796(t) | 06/01/50 | 4,000 | 408,400 | |
Glen Cove Loc. Econ. Asst. Corp. Rev., | |||||
Garvies Pt. Impt. Proj., Ser. A | 5.000 | 01/01/56 | 2,105 | 2,215,765 | |
Garvies Pt. Impt. Proj., Ser. C, CABS (Convert to Fixed on 01/01/24) | 0.000(cc) | 01/01/55 | 1,000 | 950,450 | |
Metropolitan Transn. Auth. Rev., | |||||
Green Bond, Ser. C-1, Rfdg. | 5.000 | 11/15/50 | 3,000 | 3,440,340 | |
Green Bond, Ser. C-1, Rfdg. | 5.250 | 11/15/55 | 3,000 | 3,432,180 | |
New York Liberty Dev. Corp. Rev., | |||||
4 World Trade Center Proj., Rfdg. | 5.750 | 11/15/51 | 1,750 | 1,862,315 | |
Bank of America, Rfdg. | 2.800 | 09/15/69 | 1,000 | 992,220 | |
Class 1-3 World Trade Ctr., Rfdg., 144A | 5.000 | 11/15/44 | 5,000 | 5,314,350 | |
New York Trans. Dev. Corp. Rev., | |||||
Delta Air Lines, Inc.-Laguardia Arpt. Terms. C&D Redev., AMT | 4.000 | 01/01/36 | 1,475 | 1,509,072 |
13
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
New York (cont’d.) | |||||
New York Trans. Dev. Corp. Rev., (cont’d.) | |||||
Delta Air Lines, Inc.-Laguardia Arpt. Terms. C&D Redev., AMT | 5.000 % | 01/01/26 | 2,000 | $2,159,760 | |
Delta Air Lines, Inc.-Laguardia Arpt. Terms. C&D Redev., AMT | 5.000 | 01/01/31 | 1,000 | 1,082,520 | |
John F. Kennedy Int’l. Arpt. Proj., AMT, Rfdg. | 5.250 | 08/01/31 | 1,000 | 1,030,700 | |
John F. Kennedy Int’l. Arpt. Proj., AMT, Rfdg. | 5.375 | 08/01/36 | 1,000 | 1,035,850 | |
Laguardia Arpt., Term. B Redev., Ser. A, AMT | 5.000 | 07/01/46 | 2,995 | 3,245,712 | |
Laguardia Arpt., Term. B Redev., Ser. A, AMT | 5.250 | 01/01/50 | 9,480 | 10,365,053 | |
Port Auth. of NY & NJ Spl. Oblig. Rev., | |||||
JFK Int’l. Air Term. | 5.000 | 12/01/20 | 175 | 177,432 | |
JFK Int’l. Air Term. | 6.000 | 12/01/36 | 1,700 | 1,725,296 | |
JFK Int’l. Air Term. | 6.000 | 12/01/42 | 5,790 | 5,871,929 | |
TSASC, Inc., Rev., Ser. A, Rfdg. | 5.000 | 06/01/41 | 4,875 | 5,496,562 | |
Yonkers Econ. Dev. Corp. Rev., Chrt. Sch. Edu. Excellence Proj., Ser. A | 5.000 | 10/15/49 | 1,000 | 1,014,270 | |
55,119,206 | |||||
North Carolina 0.3% | |||||
North Carolina Med. Care Commn. Rev., Pennybyrn at Maryfield, Rfdg. | 5.000 | 10/01/35 | 1,000 | 940,300 | |
North Carolina Tpk. Auth. Rev., Ser. A, Rfdg. | 5.000 | 07/01/51 | 1,250 | 1,406,850 | |
2,347,150 | |||||
Ohio 3.7% | |||||
Buckeye Tob. Settlement Fing. Auth. Rev., Sr. Ser. B-2, Class 2, Rfdg. | 5.000 | 06/01/55 | 8,750 | 9,645,388 | |
Cuyahoga Cnty. Hosp. Rev., | |||||
Metro Hlth. Sys., Rfdg. | 5.000 | 02/15/52 | 575 | 640,912 | |
Metro Hlth. Sys., Rfdg. | 5.250 | 02/15/47 | 2,000 | 2,264,300 | |
Metro Hlth. Sys., Rfdg. | 5.500 | 02/15/57 | 6,540 | 7,466,980 | |
Franklin Cnty. Hosp. Facs. Rev., | |||||
Hlth. Corp., Ser. A | 4.000 | 05/15/47 | 2,500 | 2,869,600 | |
Nationwide Children’s Hosp. Proj., Ser. A | 4.000 | 11/01/45 | 2,000 | 2,201,320 | |
Lucas Cnty. Hosp. Rev., Promedica Healthcare, Ser. A, Rfdg. (Pre-refunded 11/15/21)(ee) | 6.500 | 11/15/37 | 875 | 946,155 | |
Middleburg Heights Hosp. Rev., | |||||
Facs. Southwest Gen. Hlth. Ctr., Ser. 2011, Rfdg. | 5.250 | 08/01/41 | 1,200 | 1,252,584 |
14
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Ohio (cont’d.) | |||||
Middleburg Heights Hosp. Rev., (cont’d.) | |||||
Southwest Gen. Hlth. Ctr., Ser. A, Rfdg.(hh) | 4.000 % | 08/01/41 | 2,005 | $2,231,264 | |
Ohio Air Qlty. Dev. Auth. Rev., Pratt Paper OH LLC Proj., AMT, 144A | 4.500 | 01/15/48 | 1,000 | 1,062,850 | |
Ohio St. Pvt. Act. Rev., Portsmouth Bypass Proj., AMT | 5.000 | 06/30/53 | 1,000 | 1,109,360 | |
31,690,713 | |||||
Oklahoma 2.1% | |||||
Oklahoma St. Dev., Fin. Auth. Rev., | |||||
OU Medicine Proj., Ser. B | 5.250 | 08/15/48 | 1,455 | 1,703,762 | |
OU Medicine Proj., Ser. B | 5.500 | 08/15/52 | 7,530 | 8,944,435 | |
OU Medicine Proj., Ser. B | 5.500 | 08/15/57 | 4,950 | 5,875,056 | |
St. Johns Hlth. Sys., Rfdg. (Pre-refunded 02/15/22)(ee) | 5.000 | 02/15/42 | 300 | 322,245 | |
Tulsa Cnty. Indl. Auth. Rev., Montereau, Inc. Proj., Rfdg. | 5.250 | 11/15/45 | 1,000 | 1,039,340 | |
17,884,838 | |||||
Oregon 0.4% | |||||
Multnomah Cnty. Hosp. Facs. Auth. Rev., Mirabella at South Waterfront, Ser. A., Rfdg. | 5.400 | 10/01/44 | 1,000 | 1,018,610 | |
Oregon St. Facs. Auth. Rev., Samaritan Hlth. Svcs., Ser. A, Rfdg. | 5.000 | 10/01/40 | 1,000 | 1,234,340 | |
Salem Hosp. Facs. Auth. Rev., Capital Manor, Inc., Rfdg. | 6.000 | 05/15/42 | 1,000 | 1,029,140 | |
3,282,090 | |||||
Pennsylvania 4.5% | |||||
Central Bradford Progress Auth. Rev., Guthrie Healthcare Sys., Rfdg. (Pre-refunded 12/01/21)(ee) | 5.375 | 12/01/41 | 2,700 | 2,886,759 | |
Chester Cnty. Indl. Dev. Auth. Rev., Renaissance Academy Chrt. Sch., Rfdg. | 5.000 | 10/01/44 | 1,000 | 1,062,510 | |
Geisinger Auth. Hlth. Sys. Rev., Ser. A-1 | 5.125 | 06/01/41 | 1,450 | 1,497,197 | |
Moon Indl. Dev. Auth. Rev., Baptist Homes Society Oblig., Rfdg. | 6.000 | 07/01/45 | 2,000 | 2,039,360 | |
Pennsylvania Comnwlth., Ser. A, COP, Rfdg. | 4.000 | 07/01/46 | 1,500 | 1,674,510 |
15
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Pennsylvania (cont’d.) | |||||
Pennsylvania Econ. Dev. Fing. Auth. Rev., | |||||
Swr. Sludge Disp., Philadelphia Biosolids Fac. | 6.250 % | 01/01/32 | 710 | $712,379 | |
US Airways Grp., Ser. B, Gty. Agmt. | 8.000 | 05/01/29 | 490 | 476,618 | |
Pennsylvania Tpk. Commn. Rev., | |||||
Ser. A-1 | 5.000 | 12/01/46 | 3,950 | 4,586,187 | |
Sub., Ser. A | 5.500 | 12/01/42 | 1,500 | 1,798,815 | |
Sub., Ser. A | 5.500 | 12/01/46 | 1,740 | 2,114,100 | |
Sub., Ser. A-1 | 5.000 | 12/01/46 | 2,000 | 2,265,520 | |
Sub., Ser. B-1 | 5.250 | 06/01/47 | 2,000 | 2,353,460 | |
Philadelphia Auth. for Indl. Dev. Rev., | |||||
First Philadelphia Preparatory Chrt., Ser. A, Rfdg. | 7.250 | 06/15/43 | 2,000 | 2,213,140 | |
Gtr. Philadelphia Hlth Action, Rfdg. | 6.625 | 06/01/50 | 2,795 | 2,824,376 | |
Mariana Bracetti Academy (Pre-refunded 12/15/21)(ee) | 7.625 | 12/15/41 | 2,000 | 2,203,820 | |
New Fndtn. Chrt. Sch. Proj. (Pre-refunded 12/15/22)(ee) | 6.625 | 12/15/41 | 1,000 | 1,152,920 | |
Philadelphia Hosp. & Higher Ed. Facs. Auth. Rev., Temple Univ. Hlth. Sys., Ser. A | 5.625 | 07/01/42 | 6,750 | 7,069,545 | |
38,931,216 | |||||
Puerto Rico 5.7% | |||||
Puerto Rico Comnwlth. Aqueduct & Swr. Auth., | |||||
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 4.000 | 07/01/22 | 2,535 | 2,556,649 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 4.250 | 07/01/25 | 1,285 | 1,302,540 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 5.000 | 07/01/33 | 2,615 | 2,684,480 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 5.125 | 07/01/37 | 155 | 159,456 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 5.250 | 07/01/42 | 1,250 | 1,281,538 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 5.750 | 07/01/37 | 1,375 | 1,430,839 | |
Aqueduct & Swr. Auth. Rev., Sr. Lien, Ser. A | 6.000 | 07/01/47 | 1,170 | 1,217,350 | |
Puerto Rico Sales Tax Fing. Corp. Sales Tax Rev., | |||||
Restructured Ser. A-1 | 4.750 | 07/01/53 | 5,671 | 6,021,468 | |
Restructured Ser. A-1 | 5.000 | 07/01/58 | 12,364 | 13,316,276 | |
Restructured Ser. A-1, CABS | 4.474(t) | 07/01/46 | 15,766 | 4,595,316 | |
Restructured Ser. A-1, CABS | 4.502(t) | 07/01/51 | 16,834 | 3,551,132 | |
Ser. A-2 | 4.329 | 07/01/40 | 10,500 | 10,921,155 | |
49,038,199 | |||||
Rhode Island 0.6% | |||||
Tob. Settlement Fing. Corp. Rev., Ser. A, Rfdg. | 5.000 | 06/01/40 | 4,350 | 4,822,584 |
16
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
South Carolina 0.9% | |||||
Berkeley Cnty. Spl. Assmt., Nexton Impt. Dist. | 4.375 % | 11/01/49 | 1,000 | $1,013,770 | |
South Carolina Prt. Auth. Rev., | |||||
AMT | 4.000 | 07/01/45 | 1,500 | 1,597,110 | |
AMT | 4.000 | 07/01/55 | 2,000 | 2,179,900 | |
South Carolina St. Pub. Svc. Auth. Rev., Ser. E, Rfdg. | 5.250 | 12/01/55 | 2,500 | 2,930,050 | |
7,720,830 | |||||
Tennessee 0.6% | |||||
Knox Cnty. Hlth. Edl. & Hsg. Facs. Brd. Rev., East Tennessee Children’s Hosp., Rfdg. | 4.000 | 11/15/48 | 2,000 | 2,243,380 | |
Metropolitan Govt. Nashville & Davidson Cnty. Hlth. & Edl. Facs. Brd. Rev., Impt. Blakeford at Green Hills, Rfdg. | 5.000 | 07/01/37 | 850 | 865,495 | |
Shelby Cnty. Hlth. Edl. & Hsg. Facs. Brd. Facs. Rev., Germantown Village, Rfdg. | 5.250 | 12/01/42 | 1,100 | 1,104,840 | |
Tennessee Energy Acquisition Corp. Gas Rev., Ser. C | 5.000 | 02/01/22 | 1,000 | 1,049,980 | |
5,263,695 | |||||
Texas 7.9% | |||||
Arlington Higher Ed. Fin. Corp. Rev., Wayside Schs., Ser. A | 4.625 | 08/15/46 | 1,050 | 1,052,803 | |
Bexar Cnty. Hlth. Facs. Dev. Corp. Rev., Army Retmnt. Residence Fndt., Rfdg. | 5.000 | 07/15/41 | 1,250 | 1,291,963 | |
Central Tex. Regl. Mobility Auth. Rev., | |||||
Sr. Lien, Ser. A | 5.000 | 01/01/45 | 1,000 | 1,107,570 | |
Sub., Rfdg. | 4.000 | 01/01/41 | 1,100 | 1,173,216 | |
Clifton Higher Ed. Fin. Corp. Rev., | |||||
Idea Pub. Sch. | 5.000 | 08/15/42 | 1,000 | 1,057,230 | |
Idea Pub. Sch. | 6.000 | 08/15/43 | 1,000 | 1,111,040 | |
Decatur Hosp. Auth. Rev., Wise Regl. Hlth. Sys., Ser. A, Rfdg. | 5.250 | 09/01/44 | 1,370 | 1,511,206 | |
Grand Parkway Transn. Corp., First Tier Toll Rev., Ser. A | 5.125 | 10/01/43 | 2,000 | 2,202,640 | |
Gulf Coast Wste. Disp. Auth. Rev., | |||||
Exxon Mobil Corp. Proj., FRDD (Mandatory put date 08/03/20) | 0.150(cc) | 06/01/30 | 200 | 200,000 | |
Exxon Mobil Corp. Proj., FRDD (Mandatory put date 08/03/20) | 0.170(cc) | 09/01/25 | 1,150 | 1,150,000 |
17
PGIM Muni High Income Fund
Schedule of Investments as of July 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 Proj., Rfdg., FRDD (Mandatory put date 08/03/20) | 0.140 %(cc) | 10/01/24 | 300 | $300,000 | |
Var. Exxon Mobil Corp. Proj., FRDD (Mandatory put date 08/03/20) | 0.170(cc) | 12/01/25 | 8,600 | 8,600,000 | |
Var. Exxon Mobil Corp. Proj., Ser. A, FRDD (Mandatory put date 08/03/20) | 0.150(cc) | 06/01/30 | 3,510 | 3,510,000 | |
Houston Arpt. Sys. Rev., | |||||
Ser. B-1, AMT | 5.000 | 07/15/35 | 2,000 | 2,048,620 | |
Spl. Facs. Cont. Airlines, Inc., Ser. A, AMT, Rfdg. | 6.625 | 07/15/38 | 1,500 | 1,530,540 | |
Spl. Facs. Cont. Airlines, Inc., Sub. Lien, Ser. A, AMT, Rfdg. | 5.000 | 07/01/32 | 1,000 | 1,072,200 | |
Sub. Lien, Ser. A, AMT, Rfdg. | 5.000 | 07/01/25 | 250 | 259,580 | |
United Airlines, Inc., AMT, Rfdg. | 5.000 | 07/15/27 | 500 | 526,205 | |
Houston Higher Ed. Fin. Corp., Higher Ed. Rev., Cosmos Fndtn., Inc., Ser. A | 5.000 | 02/15/42 | 1,250 | 1,286,025 | |
Kerryville Hlth. Facs. Dev. Corp. Rev., Peterson Regl. Med. Ctr. Proj., Rfdg. | 5.000 | 08/15/35 | 3,000 | 3,478,230 | |
Lower Neches Vlly. Auth. Indl. Dev. Corp. Rev., Var. Exxon Mobil Corp. Proj., FRDD (Mandatory put date 08/03/20) | 0.120(cc) | 11/01/38 | 4,670 | 4,670,000 | |
Matagorda Cnty. Nav. Dist. No. 1, Poll. Ctrl. Rev., | |||||
AEP Tex. Central Co. Proj., Ser. B-2, Rfdg. | 4.000 | 06/01/30 | 1,800 | 1,861,956 | |
Var. AEP Tex. Central Co. Proj., Ser. B-1, Rfdg. | 4.000 | 06/01/30 | 1,000 | 1,041,420 | |
Mission Econ. Dev. Corp. Rev., Natgosoline Proj., Sr. Lien, AMT, Rfdg., 144A | 4.625 | 10/01/31 | 2,000 | 2,123,000 | |
New Hope Cultural Ed. Facs. Corp. Rev., | |||||
Jubilee Academic Ctr., Ser. A, Rfdg., 144A | 5.000 | 08/15/46 | 2,000 | 2,011,700 | |
MRC Crestview, Rfdg. | 5.000 | 11/15/46 | 1,150 | 1,167,388 | |
North Tex. Twy. Auth. Rev., | |||||
Rfdg. | 5.000 | 01/01/48 | 1,250 | 1,497,338 | |
Second Tier, Ser. A, Rfdg. | 4.000 | 01/01/38 | 2,000 | 2,197,020 | |
Port Beaumont Navigation Dist. Rev., Jefferson Gulf Coast, AMT, Rfdg., 144A | 4.000 | 01/01/50 | 2,000 | 2,008,920 | |
Pottsboro Higher Ed. Fin. Corp. Rev., Ser. A | 5.000 | 08/15/46 | 1,000 | 1,030,850 | |
Tarrant Cnty. Cultural Ed. Facs. Fin. Corp. Rev., | |||||
Barton Creek Sr. Living Ctr., Rfdg. | 5.000 | 11/15/40 | 1,100 | 1,128,072 | |
Trinity Terrace Proj., Ser. A-1, Rfdg. | 5.000 | 10/01/44 | 1,000 | 1,030,990 | |
Texas Mun. Gas Acq. & Sply. Corp., Gas Sply. Rev., Corp. I, Sr. Lien, Ser. A | 5.250 | 12/15/26 | 4,100 | 5,138,366 |
18
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Texas (cont’d.) | |||||
Texas Priv. Activity Surface Transn. Corp. Rev., | |||||
Sr. Lien, LBJ Infrastructure | 7.000 % | 06/30/40 | 4,670 | $4,688,960 | |
Sr. Lien, NTE Mobility Partners, AMT, Ser. 3A & 3B | 6.750 | 06/30/43 | 500 | 568,575 | |
Sr. Lien, NTE Mobility Partners, AMT, Ser. 3A & 3B | 7.000 | 12/31/38 | 1,500 | 1,722,150 | |
68,355,773 | |||||
Utah 0.3% | |||||
Salt Lake City Corp. Arpt. Rev., Ser. A, AMT | 5.000 | 07/01/47 | 1,100 | 1,290,740 | |
Utah Chrt. Sch. Fin. Auth. Rev., Spectrum Academy Proj., 144A | 6.000 | 04/15/45 | 1,000 | 1,000,120 | |
Utah Cnty. Hosp. Rev., IHC Hlth. Svcs. Inc., Ser. A | 4.000 | 05/15/43 | 510 | 603,718 | |
2,894,578 | |||||
Virginia 1.7% | |||||
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 | 1,006,810 | |
Mosaic District Cmnty. Dev. Auth. Spl. Assmt., Ser. A | 6.875 | 03/01/36 | 1,250 | 1,259,112 | |
Norfolk Econ. Dev. Auth. Rev., Sentara Healthcare, Ser. B, Rfdg. | 4.000 | 11/01/48 | 2,000 | 2,256,560 | |
Virginia Small Bus. Fing. Auth. Rev., | |||||
Sr. Lien, Elizabeth River Crossings OpCo LLC Proj. | 5.250 | 01/01/32 | 2,055 | 2,186,602 | |
Sr. Lien, Elizabeth River Crossings OpCo LLC Proj. | 5.500 | 01/01/42 | 3,000 | 3,187,650 | |
Sr. Lien, Express Lanes LLC Proj. | 5.000 | 01/01/40 | 4,780 | 4,932,817 | |
14,829,551 | |||||
Washington 1.3% | |||||
Port of Seattle Indl. Dev. Corp. Rev., Spl. Facs., Delta Airlines, AMT, Rfdg. | 5.000 | 04/01/30 | 1,000 | 1,029,140 | |
Skagit Cnty. Pub. Hosp. Dist. No. 1 Rev., Skagit Valley Hosp., Ser. A, Rfdg. | 5.000 | 12/01/37 | 3,000 | 3,280,320 | |
Tob. Settlement Auth. Wash. Rev., Rfdg. | 5.250 | 06/01/32 | 1,160 | 1,201,006 | |
Washington St. Healthcare Facs. Auth. Rev., | |||||
Overlake Hosp. Med. Ctr., Rfdg. | 5.000 | 07/01/38 | 1,100 | 1,255,441 | |
Overlake Hosp. Med. Ctr., Ser. A | 4.000 | 07/01/42 | 2,500 | 2,802,800 |
19
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Municipal Bonds (Continued) | |||||
Washington (cont’d.) | |||||
Washington St. Hsg. Fin. Comm. Rev., Rockwood Retmnt. Cmnty. Proj., Ser. A, Rfdg., 144A | 7.375 % | 01/01/44 | 2,000 | $2,124,180 | |
11,692,887 | |||||
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 | 1,622,790 | |
Wisconsin 1.6% | |||||
Pub. Fin. Auth. Rev., | |||||
Bancroft Neurohealth Proj., Ser. A, 144A | 5.125 | 06/01/48 | 1,000 | 1,063,690 | |
Corvian Cmnty. Sch., Ser. A, 144A | 5.000 | 06/15/49 | 1,000 | 1,013,120 | |
Corvian Cmnty. Sch., Ser. A, 144A | 5.125 | 06/15/47 | 2,000 | 2,028,600 | |
Mountain Island Chrt. Sch., Ser. L, Rfdg. | 5.000 | 07/01/47 | 1,000 | 1,064,260 | |
Senior-MD Proton Treatment Ctr., Ser. A-1, 144A | 6.250 | 01/01/38 | 1,750 | 1,563,065 | |
Senior-MD Proton Treatment Ctr., Ser. A-1, 144A | 6.375 | 01/01/48 | 3,000 | 2,579,370 | |
Sr. Oblig. Grp., Ser. B, AMT, Rfdg. | 5.000 | 07/01/42 | 1,500 | 1,584,105 | |
Sr. Oblig. Grp., Ser. B, AMT, Rfdg. | 5.250 | 07/01/28 | 1,000 | 1,073,730 | |
Wonderful Fndtn. Chrt. Sch. Port., Ser. A-1, 144A | 5.000 | 01/01/55 | 500 | 508,965 | |
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 | 1,716,225 | |
14,195,130 | |||||
TOTAL INVESTMENTS 99.6% (cost $806,437,741) | 864,006,676 | ||||
Other assets in excess of liabilities 0.4% | 3,694,251 | ||||
Net Assets 100.0% | $867,700,927 |
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. | |
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 |
20
PGIM Muni High Income Fund
Schedule of Investments as of July 31, 2020 (unaudited) (continued)
LP—Limited Partnership |
# | 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 July 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. |
(hh) | When-issued security. |
(t) | Represents zero coupon. Rate quoted represents effective yield at July 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).
21