PGIM Corporate Bond Fund
Schedule of Investments (unaudited) as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 97.0% | |||||
Commercial Mortgage-Backed Securities 5.7% | |||||
BANK, Series 2019-BN16, Class A3 | 3.741 % | 02/15/52 | 200 | $179,127 | |
Benchmark Mortgage Trust, Series 2019-B09, Class A4 | 3.751 | 03/15/52 | 200 | 179,315 | |
CCUBS Commercial Mortgage Trust, Series 2017-C01, Class A3 | 3.283(cc) | 11/15/50 | 250 | 223,887 | |
CFCRE Commercial Mortgage Trust, Series 2016-C07, Class A2 | 3.585 | 12/10/54 | 273 | 252,298 | |
Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A3 | 3.050 | 04/10/49 | 137 | 126,076 | |
Deutsche Bank Commercial Mortgage Trust, Series 2017-C06, Class A3 | 3.269 | 06/10/50 | 75 | 71,761 | |
JPMCC Commercial Mortgage Securities Trust, Series 2017-JP06, Class A4 | 3.224 | 07/15/50 | 100 | 91,588 | |
Morgan Stanley Bank of America Merrill Lynch Trust, | |||||
Series 2016-C29, Class A3 | 3.058 | 05/15/49 | 184 | 169,119 | |
Series 2016-C31, Class A4 | 2.840 | 11/15/49 | 283 | 254,567 | |
Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class A3 | 3.317 | 10/15/50 | 200 | 178,580 | |
Total Commercial Mortgage-Backed Securities (cost $1,901,436) | 1,726,318 | ||||
Corporate Bonds 90.0% | |||||
Aerospace & Defense 0.8% | |||||
Boeing Co. (The), | |||||
Sr. Unsec’d. Notes | 3.200 | 03/01/29 | 30 | 25,001 | |
Sr. Unsec’d. Notes | 5.805 | 05/01/50 | 80 | 68,742 | |
Sr. Unsec’d. Notes | 5.930 | 05/01/60 | 100 | 84,585 | |
Lockheed Martin Corp., Sr. Unsec’d. Notes | 4.300 | 06/15/62 | 65 | 51,968 | |
230,296 | |||||
Agriculture 1.6% | |||||
Altria Group, Inc., Gtd. Notes | 3.400 | 02/04/41 | 150 | 91,406 | |
BAT Capital Corp. (United Kingdom), | |||||
Gtd. Notes | 4.390 | 08/15/37 | 50 | 36,253 | |
Gtd. Notes | 4.700 | 04/02/27 | 200 | 186,181 |
1
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Agriculture (cont’d.) | |||||
BAT International Finance PLC (United Kingdom), | |||||
Gtd. Notes | 1.668 % | 03/25/26 | 100 | $85,948 | |
Gtd. Notes | 4.448 | 03/16/28 | 100 | 88,603 | |
488,391 | |||||
Airlines 1.1% | |||||
Delta Air Lines, Inc./SkyMiles IP Ltd., Sr. Sec’d. Notes, 144A | 4.500 | 10/20/25 | 55 | 53,598 | |
Southwest Airlines Co., Sr. Unsec’d. Notes | 5.125 | 06/15/27 | 230 | 224,258 | |
United Airlines, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.375 | 04/15/26 | 40 | 36,598 | |
Sr. Sec’d. Notes, 144A | 4.625 | 04/15/29 | 25 | 21,463 | |
335,917 | |||||
Auto Manufacturers 3.5% | |||||
Ford Motor Credit Co. LLC, | |||||
Sr. Unsec’d. Notes | 3.350 | 11/01/22 | 265 | 265,000 | |
Sr. Unsec’d. Notes | 4.950 | 05/28/27 | 200 | 183,229 | |
General Motors Co., | |||||
Sr. Unsec’d. Notes | 5.400 | 04/01/48 | 135 | 106,831 | |
Sr. Unsec’d. Notes | 6.125 | 10/01/25 | 200 | 199,219 | |
General Motors Financial Co., Inc., Gtd. Notes | 4.000 | 01/15/25 | 150 | 144,258 | |
Stellantis Finance US, Inc., Gtd. Notes, 144A | 2.691 | 09/15/31 | 205 | 145,921 | |
1,044,458 | |||||
Auto Parts & Equipment 0.7% | |||||
Aptiv PLC/Aptiv Corp., Gtd. Notes | 3.250 | 03/01/32 | 35 | 27,920 | |
BorgWarner, Inc., Sr. Unsec’d. Notes, 144A | 5.000 | 10/01/25 | 200 | 194,772 | |
222,692 |
2
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Banks 23.1% | |||||
Banco Santander SA (Spain), Sr. Unsec’d. Notes | 3.800 % | 02/23/28 | 200 | $169,663 | |
Bank of America Corp., | |||||
Sr. Unsec’d. Notes | 2.299(ff) | 07/21/32 | 45 | 33,317 | |
Sr. Unsec’d. Notes | 2.572(ff) | 10/20/32 | 320 | 241,656 | |
Sr. Unsec’d. Notes, MTN | 1.898(ff) | 07/23/31 | 305 | 226,283 | |
Sr. Unsec’d. Notes, MTN | 2.087(ff) | 06/14/29 | 75 | 60,690 | |
Sr. Unsec’d. Notes, MTN | 2.676(ff) | 06/19/41 | 250 | 158,486 | |
Sr. Unsec’d. Notes, MTN | 3.384(ff) | 04/02/26 | 130 | 122,082 | |
Sr. Unsec’d. Notes, MTN | 3.824(ff) | 01/20/28 | 100 | 91,426 | |
Sr. Unsec’d. Notes, MTN | 4.271(ff) | 07/23/29 | 240 | 218,037 | |
BNP Paribas SA (France), Sr. Unsec’d. Notes, 144A, MTN | 3.052(ff) | 01/13/31 | 200 | 155,119 | |
BPCE SA (France), Sr. Unsec’d. Notes, 144A | 2.375 | 01/14/25 | 250 | 229,217 | |
Citigroup, Inc., | |||||
Jr. Sub. Notes, Series V | 4.700(ff) | 01/30/25(oo) | 25 | 20,032 | |
Sr. Unsec’d. Notes | 2.561(ff) | 05/01/32 | 55 | 41,918 | |
Sr. Unsec’d. Notes | 4.412(ff) | 03/31/31 | 300 | 267,250 | |
Sub. Notes | 4.300 | 11/20/26 | 200 | 188,725 | |
Sub. Notes | 4.450 | 09/29/27 | 100 | 93,178 | |
Sub. Notes | 4.600 | 03/09/26 | 300 | 287,959 | |
Credit Agricole SA (France), Sr. Unsec’d. Notes, 144A | 1.247(ff) | 01/26/27 | 255 | 214,775 | |
Credit Suisse Group AG (Switzerland), Sr. Unsec’d. Notes, 144A | 1.305(ff) | 02/02/27 | 250 | 197,749 | |
Deutsche Bank AG (Germany), | |||||
Sr. Unsec’d. Notes | 1.447(ff) | 04/01/25 | 160 | 145,743 | |
Sr. Unsec’d. Notes | 2.222(ff) | 09/18/24 | 150 | 142,246 | |
Sr. Unsec’d. Notes | 3.950 | 02/27/23 | 100 | 99,182 | |
Goldman Sachs Group, Inc. (The), | |||||
Sr. Unsec’d. Notes | 1.948(ff) | 10/21/27 | 145 | 123,217 | |
Sr. Unsec’d. Notes | 1.992(ff) | 01/27/32 | 65 | 47,434 | |
Sr. Unsec’d. Notes | 3.814(ff) | 04/23/29 | 20 | 17,745 | |
Sub. Notes | 5.150 | 05/22/45 | 150 | 121,950 | |
HSBC Holdings PLC (United Kingdom), Sr. Unsec’d. Notes | 1.589(ff) | 05/24/27 | 200 | 163,979 | |
JPMorgan Chase & Co., | |||||
Sr. Unsec’d. Notes | 1.953(ff) | 02/04/32 | 300 | 220,039 | |
Sr. Unsec’d. Notes | 2.522(ff) | 04/22/31 | 150 | 118,314 |
3
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Banks (cont’d.) | |||||
JPMorgan Chase & Co., (cont’d.) | |||||
Sr. Unsec’d. Notes | 2.525 %(ff) | 11/19/41 | 110 | $67,805 | |
Sr. Unsec’d. Notes | 2.545(ff) | 11/08/32 | 90 | 68,011 | |
Sr. Unsec’d. Notes | 3.328(ff) | 04/22/52 | 55 | 35,594 | |
Sr. Unsec’d. Notes | 3.882(ff) | 07/24/38 | 95 | 73,900 | |
Sr. Unsec’d. Notes | 3.964(ff) | 11/15/48 | 75 | 55,008 | |
Sr. Unsec’d. Notes | 4.452(ff) | 12/05/29 | 350 | 318,952 | |
Morgan Stanley, | |||||
Sr. Unsec’d. Notes, GMTN | 2.239(ff) | 07/21/32 | 515 | 382,111 | |
Sr. Unsec’d. Notes, GMTN | 4.431(ff) | 01/23/30 | 225 | 205,162 | |
Sr. Unsec’d. Notes, MTN | 3.971(ff) | 07/22/38 | 235 | 184,950 | |
Societe Generale SA (France), | |||||
Sr. Unsec’d. Notes, 144A | 1.488(ff) | 12/14/26 | 200 | 166,710 | |
Sr. Unsec’d. Notes, 144A, MTN | 2.625 | 01/22/25 | 200 | 183,449 | |
State Street Corp., Sr. Unsec’d. Notes | 2.203(ff) | 02/07/28 | 165 | 143,143 | |
UBS Group AG (Switzerland), Sr. Unsec’d. Notes, 144A | 4.125 | 09/24/25 | 200 | 188,510 | |
Wells Fargo & Co., | |||||
Sr. Unsec’d. Notes, MTN | 2.393(ff) | 06/02/28 | 240 | 205,050 | |
Sr. Unsec’d. Notes, MTN | 2.572(ff) | 02/11/31 | 410 | 327,077 | |
Sr. Unsec’d. Notes, MTN | 3.526(ff) | 03/24/28 | 135 | 121,707 | |
6,944,550 | |||||
Beverages 1.7% | |||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium), Gtd. Notes | 4.900 | 02/01/46 | 240 | 208,210 | |
Anheuser-Busch InBev Worldwide, Inc. (Belgium), Gtd. Notes | 5.550 | 01/23/49 | 110 | 103,791 | |
Bacardi Ltd. (Bermuda), Gtd. Notes, 144A | 2.750 | 07/15/26 | 100 | 88,900 | |
Constellation Brands, Inc., | |||||
Gtd. Notes | 5.250 | 11/15/48 | 50 | 42,907 | |
Sr. Unsec’d. Notes | 2.875 | 05/01/30 | 80 | 66,163 | |
509,971 |
4
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Biotechnology 0.1% | |||||
Amgen, Inc., Sr. Unsec’d. Notes | 3.000 % | 01/15/52 | 55 | $33,910 | |
Building Materials 0.6% | |||||
Johnson Controls International PLC, Sr. Unsec’d. Notes | 4.950 | 07/02/64 | 54 | 40,613 | |
Martin Marietta Materials, Inc., | |||||
Sr. Unsec’d. Notes | 2.400 | 07/15/31 | 15 | 11,531 | |
Sr. Unsec’d. Notes | 4.250 | 12/15/47 | 50 | 37,185 | |
Owens Corning, Sr. Unsec’d. Notes | 4.300 | 07/15/47 | 100 | 71,366 | |
Vulcan Materials Co., Sr. Unsec’d. Notes | 3.500 | 06/01/30 | 40 | 34,059 | |
194,754 | |||||
Chemicals 0.8% | |||||
Dow Chemical Co. (The), Sr. Unsec’d. Notes | 4.800 | 05/15/49 | 55 | 43,395 | |
Huntsman International LLC, Sr. Unsec’d. Notes | 2.950 | 06/15/31 | 75 | 56,026 | |
LYB International Finance III LLC, Gtd. Notes | 3.375 | 10/01/40 | 145 | 96,525 | |
Westlake Corp., Sr. Unsec’d. Notes | 2.875 | 08/15/41 | 15 | 9,284 | |
Yara International ASA (Brazil), Sr. Unsec’d. Notes, 144A | 4.750 | 06/01/28 | 40 | 35,895 | |
241,125 | |||||
Commercial Services 0.9% | |||||
California Institute of Technology, Sr. Unsec’d. Notes | 4.700 | 11/01/2111 | 50 | 38,631 | |
Equifax, Inc., Sr. Unsec’d. Notes | 2.350 | 09/15/31 | 110 | 81,515 |
5
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Commercial Services (cont’d.) | |||||
Massachusetts Institute of Technology, Unsec’d. Notes | 3.885 % | 07/01/2116 | 100 | $66,147 | |
Trustees of the University of Pennsylvania (The), Sr. Unsec’d. Notes | 3.610 | 02/15/2119 | 160 | 96,311 | |
282,604 | |||||
Computers 0.9% | |||||
Apple, Inc., Sr. Unsec’d. Notes | 4.100 | 08/08/62 | 115 | 89,448 | |
Fortinet, Inc., Sr. Unsec’d. Notes | 2.200 | 03/15/31 | 175 | 131,902 | |
Leidos, Inc., | |||||
Gtd. Notes | 2.300 | 02/15/31 | 35 | 25,770 | |
Gtd. Notes | 4.375 | 05/15/30 | 30 | 26,254 | |
273,374 | |||||
Diversified Financial Services 1.1% | |||||
Cantor Fitzgerald LP, Sr. Unsec’d. Notes, 144A | 4.875 | 05/01/24 | 40 | 39,046 | |
Jefferies Group LLC/Jefferies Group Capital Finance, Inc., Sr. Unsec’d. Notes | 2.625 | 10/15/31 | 170 | 120,652 | |
Nomura Holdings, Inc. (Japan), Sr. Unsec’d. Notes | 2.172 | 07/14/28 | 200 | 157,801 | |
317,499 | |||||
Electric 8.6% | |||||
AEP Texas, Inc., Sr. Unsec’d. Notes | 3.450 | 05/15/51 | 115 | 74,860 | |
Commonwealth Edison Co., First Mortgage | 4.700 | 01/15/44 | 100 | 85,242 | |
Consumers Energy Co., First Mortgage | 4.200 | 09/01/52 | 65 | 51,791 | |
Dominion Energy South Carolina, Inc., First Mortgage | 4.600 | 06/15/43 | 150 | 125,363 | |
DTE Electric Co., General Ref. Mortgage | 3.950 | 06/15/42 | 75 | 56,353 |
6
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electric (cont’d.) | |||||
Duke Energy Carolinas LLC, First Mortgage | 3.450 % | 04/15/51 | 90 | $61,422 | |
Emera US Finance LP (Canada), Gtd. Notes | 3.550 | 06/15/26 | 200 | 184,489 | |
Entergy Corp., Sr. Unsec’d. Notes | 2.950 | 09/01/26 | 100 | 91,075 | |
Interstate Power & Light Co., Sr. Unsec’d. Notes | 2.300 | 06/01/30 | 150 | 119,105 | |
Liberty Utilities Finance GP1, Gtd. Notes, 144A | 2.050 | 09/15/30 | 230 | 169,682 | |
MidAmerican Energy Co., First Mortgage | 3.950 | 08/01/47 | 20 | 15,238 | |
Mississippi Power Co., Sr. Unsec’d. Notes, Series 12-A | 4.250 | 03/15/42 | 140 | 107,198 | |
NextEra Energy Capital Holdings, Inc., Gtd. Notes | 2.250 | 06/01/30 | 22 | 17,468 | |
NRG Energy, Inc., Sr. Sec’d. Notes, 144A | 2.000 | 12/02/25 | 35 | 30,853 | |
Pacific Gas & Electric Co., | |||||
First Mortgage | 3.950 | 12/01/47 | 100 | 64,977 | |
First Mortgage | 4.000 | 12/01/46 | 100 | 63,618 | |
PPL Electric Utilities Corp., First Mortgage | 4.750 | 07/15/43 | 100 | 85,751 | |
Progress Energy, Inc., Sr. Unsec’d. Notes | 7.000 | 10/30/31 | 190 | 199,890 | |
Public Service Electric & Gas Co., Sr. Sec’d. Notes, MTN | 3.650 | 09/01/42 | 75 | 56,365 | |
Public Service Enterprise Group, Inc., Sr. Unsec’d. Notes | 1.600 | 08/15/30 | 53 | 39,415 | |
Puget Energy, Inc., Sr. Sec’d. Notes | 3.650 | 05/15/25 | 400 | 376,879 | |
Puget Sound Energy, Inc., First Mortgage | 2.893 | 09/15/51 | 20 | 11,951 | |
San Diego Gas & Electric Co., | |||||
First Mortgage | 4.300 | 04/01/42 | 75 | 58,218 | |
Sr. Sec’d. Notes, Series VVV | 1.700 | 10/01/30 | 100 | 76,486 | |
Southern California Edison Co., First Ref. Mortgage | 5.500 | 03/15/40 | 200 | 178,786 |
7
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electric (cont’d.) | |||||
Vistra Operations Co. LLC, | |||||
Sr. Sec’d. Notes, 144A | 3.550 % | 07/15/24 | 150 | $142,910 | |
Sr. Sec’d. Notes, 144A | 3.700 | 01/30/27 | 45 | 40,339 | |
2,585,724 | |||||
Electronics 0.3% | |||||
Amphenol Corp., Sr. Unsec’d. Notes | 2.200 | 09/15/31 | 100 | 76,460 | |
Engineering & Construction 0.4% | |||||
Mexico City Airport Trust (Mexico), Sr. Sec’d. Notes, 144A | 5.500 | 07/31/47 | 200 | 127,000 | |
Entertainment 0.6% | |||||
Warnermedia Holdings, Inc., | |||||
Gtd. Notes, 144A | 5.050 | 03/15/42 | 20 | 14,623 | |
Gtd. Notes, 144A | 5.141 | 03/15/52 | 215 | 150,517 | |
Gtd. Notes, 144A | 5.391 | 03/15/62 | 10 | 6,973 | |
172,113 | |||||
Environmental Control 0.3% | |||||
Waste Connections, Inc., Sr. Unsec’d. Notes | 2.200 | 01/15/32 | 100 | 77,065 | |
Foods 1.4% | |||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., | |||||
Gtd. Notes, 144A | 3.000 | 02/02/29 | 35 | 28,388 | |
Gtd. Notes, 144A | 3.000 | 05/15/32 | 55 | 40,593 | |
Kraft Heinz Foods Co., Gtd. Notes | 5.000 | 07/15/35 | 37 | 34,126 | |
Mars, Inc., Gtd. Notes, 144A | 3.600 | 04/01/34 | 25 | 21,023 | |
Mondelez International, Inc., Sr. Unsec’d. Notes | 2.625 | 03/17/27 | 130 | 115,806 |
8
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Foods (cont’d.) | |||||
Smithfield Foods, Inc., Sr. Unsec’d. Notes, 144A | 2.625 % | 09/13/31 | 205 | $145,361 | |
Tyson Foods, Inc., Sr. Unsec’d. Notes | 5.100 | 09/28/48 | 50 | 43,850 | |
429,147 | |||||
Healthcare-Services 3.1% | |||||
AHS Hospital Corp., Sr. Unsec’d. Notes, Series 2021 | 2.780 | 07/01/51 | 30 | 17,544 | |
Elevance Health, Inc., Sr. Unsec’d. Notes | 4.625 | 05/15/42 | 100 | 84,757 | |
HCA, Inc., | |||||
Gtd. Notes | 5.000 | 03/15/24 | 100 | 99,147 | |
Gtd. Notes | 5.250 | 06/15/49 | 50 | 40,410 | |
Gtd. Notes | 5.500 | 06/15/47 | 25 | 20,937 | |
Gtd. Notes, 144A | 3.125 | 03/15/27 | 130 | 115,132 | |
Mayo Clinic, Unsec’d. Notes | 3.774 | 11/15/43 | 85 | 63,707 | |
OhioHealth Corp., Unsec’d. Notes, Series 2020 | 3.042 | 11/15/50 | 35 | 22,752 | |
Piedmont Healthcare, Inc., Sec’d. Notes, Series 2042 | 2.719 | 01/01/42 | 55 | 35,039 | |
Presbyterian Healthcare Services, Unsec’d. Notes | 4.875 | 08/01/52 | 75 | 65,325 | |
Sentara Healthcare, Sr. Unsec’d. Notes, Series 2021 | 2.927 | 11/01/51 | 100 | 59,839 | |
Texas Health Resources, Sec’d. Notes | 4.330 | 11/15/55 | 130 | 103,520 | |
UnitedHealth Group, Inc., | |||||
Sr. Unsec’d. Notes | 2.900 | 05/15/50 | 130 | 83,092 | |
Sr. Unsec’d. Notes | 3.050 | 05/15/41 | 80 | 56,669 | |
Sr. Unsec’d. Notes | 4.750 | 05/15/52 | 45 | 39,381 | |
Sr. Unsec’d. Notes | 5.875 | 02/15/53 | 40 | 40,874 | |
948,125 | |||||
Housewares 0.3% | |||||
Newell Brands, Inc., Sr. Unsec’d. Notes | 4.000 | 12/01/24 | 100 | 97,032 |
9
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Insurance 2.2% | |||||
Arch Capital Finance LLC, Gtd. Notes | 5.031 % | 12/15/46 | 50 | $40,580 | |
Berkshire Hathaway Finance Corp., Gtd. Notes | 3.850 | 03/15/52 | 190 | 139,677 | |
Chubb INA Holdings, Inc., | |||||
Gtd. Notes | 2.850 | 12/15/51 | 95 | 58,200 | |
Gtd. Notes | 3.050 | 12/15/61 | 55 | 32,632 | |
CNA Financial Corp., Sr. Unsec’d. Notes | 3.900 | 05/01/29 | 80 | 70,526 | |
Corebridge Financial, Inc., Sr. Unsec’d. Notes, 144A | 3.650 | 04/05/27 | 45 | 40,811 | |
Everest Reinsurance Holdings, Inc., Sr. Unsec’d. Notes | 3.500 | 10/15/50 | 60 | 38,050 | |
Fairfax Financial Holdings Ltd. (Canada), Sr. Unsec’d. Notes, 144A | 5.625 | 08/16/32 | 90 | 81,500 | |
Liberty Mutual Group, Inc., Gtd. Notes, 144A | 5.500 | 06/15/52 | 50 | 41,162 | |
Markel Corp., Sr. Unsec’d. Notes | 3.450 | 05/07/52 | 140 | 88,710 | |
MetLife, Inc., Sr. Unsec’d. Notes | 5.000 | 07/15/52 | 30 | 26,188 | |
658,036 | |||||
Internet 0.1% | |||||
Meta Platforms, Inc., Sr. Unsec’d. Notes, 144A | 4.650 | 08/15/62 | 60 | 44,394 | |
Iron/Steel 0.1% | |||||
Steel Dynamics, Inc., | |||||
Sr. Unsec’d. Notes | 2.800 | 12/15/24 | 20 | 18,967 | |
Sr. Unsec’d. Notes | 3.250 | 01/15/31 | 25 | 20,332 | |
39,299 | |||||
Lodging 0.3% | |||||
Marriott International, Inc., Sr. Unsec’d. Notes, Series EE | 5.750 | 05/01/25 | 100 | 100,981 |
10
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Machinery-Diversified 0.1% | |||||
Flowserve Corp., Sr. Unsec’d. Notes | 2.800 % | 01/15/32 | 55 | $39,433 | |
Media 2.1% | |||||
Charter Communications Operating LLC/Charter Communications Operating Capital, | |||||
Sr. Sec’d. Notes | 3.500 | 06/01/41 | 15 | 9,459 | |
Sr. Sec’d. Notes | 3.700 | 04/01/51 | 190 | 113,997 | |
Sr. Sec’d. Notes | 6.384 | 10/23/35 | 180 | 164,698 | |
Comcast Corp., Gtd. Notes | 5.350 | 11/15/27 | 140 | 140,072 | |
Cox Communications, Inc., Gtd. Notes, 144A | 2.950 | 10/01/50 | 135 | 76,598 | |
Discovery Communications LLC, Gtd. Notes | 3.950 | 06/15/25 | 28 | 26,461 | |
FactSet Research Systems, Inc., Sr. Unsec’d. Notes | 2.900 | 03/01/27 | 75 | 67,035 | |
Paramount Global, Sr. Unsec’d. Notes | 5.250 | 04/01/44 | 50 | 36,622 | |
634,942 | |||||
Mining 2.7% | |||||
Barrick North America Finance LLC (Canada), Gtd. Notes | 7.500 | 09/15/38 | 75 | 81,973 | |
Freeport-McMoRan, Inc., Gtd. Notes | 4.375 | 08/01/28 | 200 | 180,421 | |
Kinross Gold Corp. (Canada), Gtd. Notes | 5.950 | 03/15/24 | 300 | 300,589 | |
Newmont Corp., Gtd. Notes | 2.800 | 10/01/29 | 200 | 165,341 | |
Teck Resources Ltd. (Canada), Sr. Unsec’d. Notes | 5.400 | 02/01/43 | 100 | 81,259 | |
809,583 | |||||
Miscellaneous Manufacturing 1.0% | |||||
Eaton Corp., Gtd. Notes | 4.150 | 03/15/33 | 90 | 79,929 |
11
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Miscellaneous Manufacturing (cont’d.) | |||||
Hillenbrand, Inc., Gtd. Notes | 5.000 % | 09/15/26 | 100 | $94,498 | |
Pentair Finance Sarl, Gtd. Notes | 4.500 | 07/01/29 | 65 | 57,717 | |
Textron, Inc., Sr. Unsec’d. Notes | 2.450 | 03/15/31 | 75 | 57,514 | |
289,658 | |||||
Office/Business Equipment 0.5% | |||||
CDW LLC/CDW Finance Corp., Gtd. Notes | 5.500 | 12/01/24 | 150 | 148,397 | |
Xerox Corp., Sr. Unsec’d. Notes | 4.625 | 03/15/23 | 4 | 3,979 | |
152,376 | |||||
Oil & Gas 2.9% | |||||
Aker BP ASA (Norway), Sr. Unsec’d. Notes, 144A | 3.750 | 01/15/30 | 150 | 127,692 | |
Canadian Natural Resources Ltd. (Canada), | |||||
Sr. Unsec’d. Notes | 5.850 | 02/01/35 | 10 | 9,222 | |
Sr. Unsec’d. Notes | 6.250 | 03/15/38 | 100 | 95,731 | |
Cenovus Energy, Inc. (Canada), | |||||
Sr. Unsec’d. Notes | 2.650 | 01/15/32 | 80 | 61,544 | |
Sr. Unsec’d. Notes | 5.250 | 06/15/37 | 125 | 109,062 | |
Sr. Unsec’d. Notes | 5.400 | 06/15/47 | 15 | 12,741 | |
ConocoPhillips Co., Gtd. Notes | 4.300 | 11/15/44 | 55 | 45,352 | |
Devon Energy Corp., Sr. Unsec’d. Notes | 5.000 | 06/15/45 | 55 | 46,040 | |
Diamondback Energy, Inc., | |||||
Gtd. Notes | 4.400 | 03/24/51 | 45 | 33,709 | |
Gtd. Notes | 6.250 | 03/15/33 | 75 | 75,336 | |
Helmerich & Payne, Inc., Sr. Unsec’d. Notes | 2.900 | 09/29/31 | 90 | 70,515 | |
Marathon Petroleum Corp., Sr. Unsec’d. Notes | 3.800 | 04/01/28 | 90 | 80,829 |
12
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
Petrobras Global Finance BV (Brazil), Gtd. Notes | 5.600 % | 01/03/31 | 65 | $58,838 | |
Petroleos Mexicanos (Mexico), Gtd. Notes | 6.350 | 02/12/48 | 60 | 34,429 | |
861,040 | |||||
Packaging & Containers 1.5% | |||||
AptarGroup, Inc., Sr. Unsec’d. Notes | 3.600 | 03/15/32 | 60 | 48,188 | |
Berry Global, Inc., | |||||
Sr. Sec’d. Notes | 0.950 | 02/15/24 | 90 | 84,730 | |
Sr. Sec’d. Notes | 1.570 | 01/15/26 | 130 | 112,724 | |
Graphic Packaging International LLC, Sr. Sec’d. Notes, 144A | 1.512 | 04/15/26 | 75 | 63,708 | |
Sealed Air Corp., Sr. Sec’d. Notes, 144A | 1.573 | 10/15/26 | 85 | 71,238 | |
Sonoco Products Co., Sr. Unsec’d. Notes | 3.125 | 05/01/30 | 70 | 57,789 | |
438,377 | |||||
Pharmaceuticals 3.0% | |||||
AbbVie, Inc., | |||||
Sr. Unsec’d. Notes | 4.050 | 11/21/39 | 95 | 76,522 | |
Sr. Unsec’d. Notes | 4.250 | 11/21/49 | 20 | 15,511 | |
Sr. Unsec’d. Notes | 4.400 | 11/06/42 | 130 | 106,447 | |
Bristol-Myers Squibb Co., | |||||
Sr. Unsec’d. Notes | 3.900 | 03/15/62 | 35 | 25,597 | |
Sr. Unsec’d. Notes | 4.625 | 05/15/44 | 100 | 86,915 | |
Cigna Corp., | |||||
Gtd. Notes | 4.900 | 12/15/48 | 150 | 127,149 | |
Sr. Unsec’d. Notes | 2.375 | 03/15/31 | 25 | 19,851 | |
CVS Health Corp., | |||||
Sr. Unsec’d. Notes | 1.750 | 08/21/30 | 100 | 76,115 | |
Sr. Unsec’d. Notes | 2.700 | 08/21/40 | 55 | 35,603 | |
Sr. Unsec’d. Notes | 4.780 | 03/25/38 | 100 | 86,709 | |
Sr. Unsec’d. Notes | 5.125 | 07/20/45 | 100 | 85,791 | |
Mylan, Inc., Gtd. Notes | 5.200 | 04/15/48 | 40 | 27,153 |
13
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pharmaceuticals (cont’d.) | |||||
Utah Acquisition Sub, Inc., Gtd. Notes | 3.950 % | 06/15/26 | 140 | $127,489 | |
Viatris, Inc., Gtd. Notes | 3.850 | 06/22/40 | 25 | 15,566 | |
912,418 | |||||
Pipelines 7.1% | |||||
Boardwalk Pipelines LP, Gtd. Notes | 3.400 | 02/15/31 | 100 | 80,679 | |
Colonial Enterprises, Inc., Gtd. Notes, 144A | 3.250 | 05/15/30 | 90 | 76,713 | |
DCP Midstream Operating LP, Gtd. Notes | 5.125 | 05/15/29 | 160 | 150,056 | |
El Paso Natural Gas Co. LLC, Gtd. Notes, 144A | 3.500 | 02/15/32 | 145 | 118,453 | |
Energy Transfer LP, | |||||
Sr. Unsec’d. Notes | 5.400 | 10/01/47 | 150 | 119,129 | |
Sr. Unsec’d. Notes | 6.250 | 04/15/49 | 60 | 52,372 | |
Sr. Unsec’d. Notes, Series 20Y | 5.800 | 06/15/38 | 15 | 12,833 | |
Enterprise Products Operating LLC, | |||||
Gtd. Notes | 4.800 | 02/01/49 | 70 | 56,537 | |
Gtd. Notes | 4.850 | 03/15/44 | 100 | 82,104 | |
Florida Gas Transmission Co. LLC, Sr. Unsec’d. Notes, 144A | 2.300 | 10/01/31 | 100 | 74,570 | |
Kinder Morgan, Inc., Gtd. Notes | 3.600 | 02/15/51 | 50 | 32,359 | |
Magellan Midstream Partners LP, | |||||
Sr. Unsec’d. Notes | 3.250 | 06/01/30 | 60 | 50,213 | |
Sr. Unsec’d. Notes | 4.200 | 10/03/47 | 80 | 56,733 | |
Midwest Connector Capital Co. LLC, Gtd. Notes, 144A | 3.900 | 04/01/24 | 75 | 72,167 | |
MPLX LP, | |||||
Sr. Unsec’d. Notes | 2.650 | 08/15/30 | 95 | 74,807 | |
Sr. Unsec’d. Notes | 4.000 | 03/15/28 | 45 | 40,734 | |
Sr. Unsec’d. Notes | 4.500 | 07/15/23 | 110 | 109,364 | |
Sr. Unsec’d. Notes | 4.950 | 03/14/52 | 120 | 92,971 | |
Sr. Unsec’d. Notes | 5.200 | 12/01/47 | 75 | 60,001 | |
Northern Natural Gas Co., Sr. Unsec’d. Notes, 144A | 3.400 | 10/16/51 | 25 | 15,559 |
14
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pipelines (cont’d.) | |||||
ONEOK, Inc., | |||||
Gtd. Notes | 2.200 % | 09/15/25 | 150 | $135,213 | |
Gtd. Notes | 3.100 | 03/15/30 | 45 | 36,408 | |
Gtd. Notes | 4.350 | 03/15/29 | 2 | 1,779 | |
Gtd. Notes | 4.500 | 03/15/50 | 30 | 20,767 | |
Gtd. Notes | 4.950 | 07/13/47 | 150 | 113,869 | |
Targa Resources Corp., Gtd. Notes | 4.950 | 04/15/52 | 20 | 15,043 | |
Transcontinental Gas Pipe Line Co. LLC, Sr. Unsec’d. Notes | 3.950 | 05/15/50 | 80 | 57,288 | |
Western Midstream Operating LP, Sr. Unsec’d. Notes | 5.500 | 02/01/50 | 10 | 7,855 | |
Williams Cos., Inc. (The), | |||||
Sr. Unsec’d. Notes | 4.300 | 03/04/24 | 200 | 196,937 | |
Sr. Unsec’d. Notes | 4.650 | 08/15/32 | 105 | 94,601 | |
Sr. Unsec’d. Notes | 5.300 | 08/15/52 | 30 | 25,312 | |
2,133,426 | |||||
Real Estate 0.6% | |||||
Ontario Teachers’ Cadillac Fairview Properties Trust (Canada), Sr. Unsec’d. Notes, 144A | 4.125 | 02/01/29 | 200 | 180,452 | |
Real Estate Investment Trusts (REITs) 5.1% | |||||
Brixmor Operating Partnership LP, | |||||
Sr. Unsec’d. Notes | 3.650 | 06/15/24 | 75 | 72,312 | |
Sr. Unsec’d. Notes | 4.050 | 07/01/30 | 15 | 12,485 | |
Sr. Unsec’d. Notes | 4.125 | 06/15/26 | 200 | 184,275 | |
Broadstone Net Lease LLC, Gtd. Notes | 2.600 | 09/15/31 | 160 | 115,575 | |
CubeSmart LP, Gtd. Notes | 2.250 | 12/15/28 | 50 | 40,098 | |
GLP Capital LP/GLP Financing II, Inc., | |||||
Gtd. Notes | 3.350 | 09/01/24 | 100 | 93,712 | |
Gtd. Notes | 4.000 | 01/15/31 | 170 | 137,748 | |
Gtd. Notes | 5.375 | 11/01/23 | 60 | 59,219 | |
Healthpeak Properties, Inc., Sr. Unsec’d. Notes | 2.125 | 12/01/28 | 75 | 60,787 |
15
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Real Estate Investment Trusts (REITs) (cont’d.) | |||||
Invitation Homes Operating Partnership LP, Gtd. Notes | 2.300 % | 11/15/28 | 45 | $35,818 | |
Phillips Edison Grocery Center Operating Partnership I LP, Gtd. Notes | 2.625 | 11/15/31 | 115 | 82,248 | |
Prologis LP, Sr. Unsec’d. Notes | 1.750 | 02/01/31 | 100 | 75,476 | |
SITE Centers Corp., Sr. Unsec’d. Notes | 3.625 | 02/01/25 | 306 | 284,737 | |
Sun Communities Operating LP, Gtd. Notes | 2.300 | 11/01/28 | 85 | 67,830 | |
VICI Properties LP, Sr. Unsec’d. Notes | 4.750 | 02/15/28 | 110 | 100,444 | |
Welltower, Inc., Sr. Unsec’d. Notes | 2.800 | 06/01/31 | 100 | 77,165 | |
WP Carey, Inc., Sr. Unsec’d. Notes | 2.250 | 04/01/33 | 65 | 45,062 | |
1,544,991 | |||||
Retail 1.5% | |||||
Alimentation Couche-Tard, Inc. (Canada), Sr. Unsec’d. Notes, 144A | 3.800 | 01/25/50 | 60 | 39,155 | |
AutoNation, Inc., | |||||
Sr. Unsec’d. Notes | 3.850 | 03/01/32 | 90 | 70,205 | |
Sr. Unsec’d. Notes | 4.750 | 06/01/30 | 165 | 142,424 | |
AutoZone, Inc., Sr. Unsec’d. Notes | 1.650 | 01/15/31 | 120 | 88,878 | |
Tractor Supply Co., Sr. Unsec’d. Notes | 1.750 | 11/01/30 | 160 | 118,948 | |
459,610 | |||||
Semiconductors 2.4% | |||||
Broadcom Corp./Broadcom Cayman Finance Ltd., Gtd. Notes | 3.875 | 01/15/27 | 40 | 36,743 | |
Broadcom, Inc., | |||||
Gtd. Notes, 144A | 2.450 | 02/15/31 | 135 | 101,661 | |
Sr. Unsec’d. Notes, 144A | 3.419 | 04/15/33 | 303 | 231,079 |
16
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Semiconductors (cont’d.) | |||||
Microchip Technology, Inc., | |||||
Gtd. Notes | 4.250 % | 09/01/25 | 70 | $66,749 | |
Sr. Unsec’d. Notes | 0.972 | 02/15/24 | 240 | 225,860 | |
NXP BV/NXP Funding LLC/NXP USA, Inc. (China), Gtd. Notes | 3.150 | 05/01/27 | 75 | 66,131 | |
728,223 | |||||
Shipbuilding 0.3% | |||||
Huntington Ingalls Industries, Inc., Gtd. Notes | 3.483 | 12/01/27 | 100 | 89,169 | |
Software 0.5% | |||||
Broadridge Financial Solutions, Inc., Sr. Unsec’d. Notes | 2.600 | 05/01/31 | 60 | 46,699 | |
Fidelity National Information Services, Inc., Sr. Unsec’d. Notes | 3.100 | 03/01/41 | 35 | 22,875 | |
Oracle Corp., | |||||
Sr. Unsec’d. Notes | 3.600 | 04/01/50 | 60 | 36,940 | |
Sr. Unsec’d. Notes | 3.900 | 05/15/35 | 45 | 34,817 | |
141,331 | |||||
Telecommunications 2.9% | |||||
AT&T, Inc., | |||||
Sr. Unsec’d. Notes | 3.500 | 06/01/41 | 270 | 190,776 | |
Sr. Unsec’d. Notes | 3.550 | 09/15/55 | 139 | 87,978 | |
Sr. Unsec’d. Notes | 3.800 | 12/01/57 | 20 | 13,177 | |
Motorola Solutions, Inc., Sr. Unsec’d. Notes | 2.300 | 11/15/30 | 200 | 149,613 | |
T-Mobile USA, Inc., | |||||
Sr. Unsec’d. Notes | 2.250 | 11/15/31 | 160 | 121,159 | |
Sr. Unsec’d. Notes | 3.875 | 04/15/30 | 210 | 185,820 | |
Verizon Communications, Inc., Sr. Unsec’d. Notes | 2.650 | 11/20/40 | 175 | 111,077 | |
859,600 |
17
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Transportation 0.5% | |||||
FedEx Corp., Gtd. Notes | 4.500 % | 02/01/65 | 100 | $71,456 | |
Ryder System, Inc., Sr. Unsec’d. Notes, MTN | 1.750 | 09/01/26 | 95 | 82,619 | |
154,075 | |||||
Trucking & Leasing 0.5% | |||||
Penske Truck Leasing Co. LP/PTL Finance Corp., | |||||
Sr. Unsec’d. Notes, 144A | 1.200 | 11/15/25 | 80 | 69,098 | |
Sr. Unsec’d. Notes, 144A | 1.700 | 06/15/26 | 90 | 77,041 | |
146,139 | |||||
Water 0.2% | |||||
American Water Capital Corp., Sr. Unsec’d. Notes | 3.750 | 09/01/47 | 100 | 72,376 | |
Total Corporate Bonds (cost $33,422,348) | 27,122,136 | ||||
Municipal Bonds 0.3% | |||||
Michigan 0.2% | |||||
University of Michigan, Taxable, Revenue Bonds, Series A | 4.454 | 04/01/2122 | 60 | 44,749 | |
Texas 0.1% | |||||
Texas Private Activity Bond Surface Transportation Corp., Taxable, Revenue Bonds, Series B | 3.922 | 12/31/49 | 50 | 35,879 | |
Total Municipal Bonds (cost $110,000) | 80,628 | ||||
Sovereign Bond 0.7% | |||||
Mexico Government International Bond (Mexico), Sr. Unsec’d. Notes (cost $250,000) | 2.659 | 05/24/31 | 250 | 193,625 |
18
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
U.S. Treasury Obligations 0.3% | |||||
U.S. Treasury Bonds | 2.875 % | 05/15/52 | 70 | $54,359 | |
U.S. Treasury Notes | 2.750 | 08/15/32 | 50 | 44,774 | |
Total U.S. Treasury Obligations (cost $106,363) | 99,133 | ||||
Total Long-Term Investments (cost $35,790,147) | 29,221,840 |
Shares | |||||
Short-Term Investment 2.0% | |||||
Unaffiliated Fund | |||||
Dreyfus Government Cash Management (Institutional Shares) (cost $594,823) | 594,823 | 594,823 | |||
TOTAL INVESTMENTS 99.0% (cost $36,384,970) | 29,816,663 | ||||
Other assets in excess of liabilities(z) 1.0% | 312,668 | ||||
Net Assets 100.0% | $30,129,331 |
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. | |
GMTN—Global Medium Term Note | |
LP—Limited Partnership | |
MTN—Medium Term Note | |
REITs—Real Estate Investment Trust |
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of October 31, 2022. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(oo) | Perpetual security. Maturity date represents next call date. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
19
PGIM Corporate Bond Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2022
Futures contracts outstanding at October 31, 2022: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
8 | 2 Year U.S. Treasury Notes | Dec. 2022 | $1,635,062 | $(31,424) | ||||
3 | 5 Year U.S. Treasury Notes | Dec. 2022 | 319,781 | (3,918) | ||||
4 | 10 Year U.S. Treasury Notes | Dec. 2022 | 442,375 | (6,082) | ||||
4 | 20 Year U.S. Treasury Bonds | Dec. 2022 | 482,000 | (67,006) | ||||
2 | 30 Year U.S. Ultra Treasury Bonds | Dec. 2022 | 255,313 | (43,909) | ||||
(152,339) | ||||||||
Short Position: | ||||||||
15 | 10 Year U.S. Ultra Treasury Notes | Dec. 2022 | 1,739,766 | 151,543 | ||||
$(796) |
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).
20