Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)
22 Dezember 2023 - 7:48PM
Edgar (US Regulatory)
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Long-Term Investments 117.0%
|
| Asset-Backed Securities 8.0%
|
| Collateralized Loan Obligations
|
Atlas Static Senior Loan Fund Ltd. (Cayman Islands),
Series 2022-01A, Class A, 144A, 3 Month SOFR + 2.600% (Cap N/A, Floor 2.600%)
| 7.994 %(c)
| 07/15/30
|
| 3,487
| $3,505,215
|
CIFC Funding Ltd. (Cayman Islands),
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.302% (Cap N/A, Floor 0.000%)
| 6.717(c)
| 04/20/31
|
| 2,465
| 2,451,859
|
Guggenheim CLO STAT Ltd. (Cayman Islands),
Series 2022-01A, Class A1A, 144A, 3 Month SOFR + 2.590% (Cap N/A, Floor 2.590%)
| 7.968(c)
| 10/25/31
|
| 3,400
| 3,416,403
|
KKR Static CLO Ltd. (Cayman Islands),
Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.220% (Cap N/A, Floor 2.220%)
| 7.636(c)
| 10/20/31
|
| 3,302
| 3,304,399
|
Madison Park Funding Ltd. (Cayman Islands),
Series 2015-18A, Class ARR, 144A, 3 Month SOFR + 1.202% (Cap N/A, Floor 0.940%)
| 6.614(c)
| 10/21/30
|
| 3,910
| 3,889,253
|
Neuberger Berman CLO Ltd. (Cayman Islands),
Series 2014-17A, Class AR2, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 1.030%)
| 6.704(c)
| 04/22/29
|
| 1,953
| 1,946,870
|
OFSI BSL Ltd. (Cayman Islands),
Series 2023-12A, Class A1, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%)
| 7.816(c)
| 01/20/35
|
| 2,000
| 2,014,012
|
Palmer Square CLO Ltd. (Cayman Islands),
Series 2015-02A, Class A1R2, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 0.000%)
| 6.777(c)
| 07/20/30
|
| 1,669
| 1,663,665
|
Palmer Square Loan Funding Ltd. (Cayman Islands),
Series 2022-03A, Class A1A, 144A, 3 Month SOFR + 1.820% (Cap N/A, Floor 1.820%)
| 7.214(c)
| 04/15/31
|
| 2,991
| 3,003,040
|
Signal Peak CLO Ltd.,
Series 2018-05A, Class A, 144A, 3 Month SOFR + 1.372% (Cap N/A, Floor 1.110%)
| 6.750(c)
| 04/25/31
|
| 1,702
| 1,695,474
|
| Voya CLO Ltd. (Cayman Islands),
|
|
|
|
|
|
| Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%)
| 6.610(c)
| 04/25/31
|
| 1,760
| 1,753,377
|
| Series 2015-03A, Class A1R, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 1.452%)
| 6.867(c)
| 10/20/31
|
| 4,000
| 3,985,107
|
|
|
|
|
|
|
Total Asset-Backed Securities
(cost $32,399,294)
| 32,628,674
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Convertible Bond 0.0%
|
| Telecommunications
|
Digicel Group Holdings Ltd. (Jamaica),
Sub. Notes, 144A, Cash coupon 7.000% (original cost $5,338; purchased 03/21/23 - 04/03/23)(f)
(cost $5,338)
| 7.000 %
| 11/16/23(d)(oo)
|
| 36
| $1,811
|
| Corporate Bonds 98.9%
|
| Aerospace & Defense 2.8%
|
| Bombardier, Inc. (Canada),
|
|
|
|
|
|
| Sr. Unsec’d. Notes, 144A
| 6.000
| 02/15/28
|
| 1,425
| 1,257,562
|
| Sr. Unsec’d. Notes, 144A(aa)
| 7.125
| 06/15/26
|
| 3,200
| 3,069,690
|
| Sr. Unsec’d. Notes, 144A
| 7.500
| 03/15/25
|
| 450
| 448,313
|
| Sr. Unsec’d. Notes, 144A
| 7.500
| 02/01/29
|
| 500
| 463,125
|
| Sr. Unsec’d. Notes, 144A
| 7.875
| 04/15/27
|
| 775
| 745,937
|
|
|
|
|
|
|
Spirit AeroSystems, Inc.,
Sec’d. Notes, 144A
| 7.500
| 04/15/25
|
| 400
| 398,970
|
| TransDigm, Inc.,
|
|
|
|
|
|
| Gtd. Notes(aa)
| 5.500
| 11/15/27
|
| 2,900
| 2,702,167
|
| Gtd. Notes
| 7.500
| 03/15/27
|
| 775
| 773,775
|
| Sr. Sec’d. Notes, 144A
| 6.250
| 03/15/26
|
| 1,425
| 1,393,293
|
|
|
|
|
|
| 11,252,832
|
| Airlines 1.9%
|
| American Airlines, Inc.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 7.250
| 02/15/28
|
| 325
| 302,603
|
| Sr. Sec’d. Notes, 144A
| 11.750
| 07/15/25
|
| 150
| 159,009
|
|
|
|
|
|
|
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
Sr. Sec’d. Notes, 144A(aa)
| 5.500
| 04/20/26
|
| 4,292
| 4,173,217
|
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.,
Sr. Sec’d. Notes, 144A
| 5.750
| 01/20/26
|
| 475
| 350,906
|
United Airlines, Inc.,
Sr. Sec’d. Notes, 144A
| 4.375
| 04/15/26
|
| 1,480
| 1,376,537
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Airlines (cont’d.)
|
VistaJet Malta Finance PLC/Vista Management
Holding, Inc. (Switzerland),
|
|
|
|
|
|
| Sr. Unsec’d. Notes, 144A
| 7.875 %
| 05/01/27
|
| 1,175
| $900,344
|
| Sr. Unsec’d. Notes, 144A
| 9.500
| 06/01/28
|
| 425
| 325,125
|
|
|
|
|
|
| 7,587,741
|
| Apparel 0.6%
|
Hanesbrands, Inc.,
Gtd. Notes, 144A
| 4.875
| 05/15/26
|
| 618
| 568,103
|
William Carter Co. (The),
Gtd. Notes, 144A
| 5.625
| 03/15/27
|
| 1,797
| 1,716,037
|
|
|
|
|
|
| 2,284,140
|
| Auto Manufacturers 2.4%
|
Allison Transmission, Inc.,
Sr. Unsec’d. Notes, 144A
| 4.750
| 10/01/27
|
| 1,075
| 982,726
|
| Ford Motor Credit Co. LLC,
|
|
|
|
|
|
| Sr. Unsec’d. Notes
| 2.300
| 02/10/25
|
| 1,000
| 943,938
|
| Sr. Unsec’d. Notes
| 2.900
| 02/16/28
|
| 1,075
| 914,039
|
| Sr. Unsec’d. Notes
| 3.375
| 11/13/25
|
| 975
| 909,746
|
| Sr. Unsec’d. Notes
| 3.664
| 09/08/24
|
| 250
| 243,347
|
| Sr. Unsec’d. Notes
| 4.125
| 08/17/27
|
| 400
| 363,457
|
| Sr. Unsec’d. Notes
| 4.950
| 05/28/27
|
| 200
| 187,453
|
| Sr. Unsec’d. Notes
| 5.125
| 06/16/25
|
| 200
| 194,334
|
| Sr. Unsec’d. Notes
| 6.800
| 05/12/28
|
| 1,925
| 1,920,175
|
| Sr. Unsec’d. Notes
| 6.950
| 03/06/26
|
| 350
| 351,025
|
| Sr. Unsec’d. Notes
| 7.350
| 11/04/27
|
| 850
| 860,238
|
|
|
|
|
|
|
Jaguar Land Rover Automotive PLC (United Kingdom),
Gtd. Notes, 144A
| 7.750
| 10/15/25
|
| 650
| 650,000
|
| Nissan Motor Acceptance Co. LLC,
|
|
|
|
|
|
| Sr. Unsec’d. Notes, 144A
| 2.750
| 03/09/28
|
| 275
| 228,001
|
| Sr. Unsec’d. Notes, 144A, MTN
| 1.850
| 09/16/26
|
| 575
| 498,341
|
|
|
|
|
|
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Auto Manufacturers (cont’d.)
|
|
|
|
|
Nissan Motor Co. Ltd. (Japan),
Sr. Unsec’d. Notes, 144A
| 4.345 %
| 09/17/27
|
| 250
| $225,863
|
PM General Purchaser LLC,
Sr. Sec’d. Notes, 144A
| 9.500
| 10/01/28
|
| 300
| 282,024
|
|
|
|
|
|
| 9,754,707
|
| Auto Parts & Equipment 1.3%
|
| Adient Global Holdings Ltd.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 4.875
| 08/15/26
|
| 1,050
| 975,187
|
| Sr. Sec’d. Notes, 144A
| 7.000
| 04/15/28
|
| 305
| 299,437
|
| American Axle & Manufacturing, Inc.,
|
|
|
|
|
|
| Gtd. Notes
| 6.250
| 03/15/26
|
| 84
| 81,167
|
| Gtd. Notes
| 6.500
| 04/01/27
|
| 1,200
| 1,131,874
|
|
|
|
|
|
|
Dana, Inc.,
Sr. Unsec’d. Notes
| 5.375
| 11/15/27
|
| 2,000
| 1,839,192
|
Tenneco, Inc.,
Sr. Sec’d. Notes, 144A
| 8.000
| 11/17/28
|
| 950
| 762,376
|
Titan International, Inc.,
Sr. Sec’d. Notes
| 7.000
| 04/30/28
|
| 375
| 342,554
|
|
|
|
|
|
| 5,431,787
|
| Banks 0.5%
|
Freedom Mortgage Corp.,
Sr. Unsec’d. Notes, 144A
| 12.000
| 10/01/28
|
| 250
| 250,863
|
Intesa Sanpaolo SpA (Italy),
Sub. Notes, 144A, MTN
| 5.017
| 06/26/24
|
| 600
| 587,262
|
Popular, Inc. (Puerto Rico),
Sr. Unsec’d. Notes
| 7.250
| 03/13/28
|
| 1,275
| 1,264,048
|
|
|
|
|
|
| 2,102,173
|
| Building Materials 1.7%
|
Eco Material Technologies, Inc.,
Sr. Sec’d. Notes, 144A
| 7.875
| 01/31/27
|
| 550
| 522,038
|
| JELD-WEN, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 4.625
| 12/15/25
|
| 435
| 412,580
|
| Gtd. Notes, 144A
| 4.875
| 12/15/27
|
| 1,175
| 1,001,428
|
|
|
|
|
|
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Building Materials (cont’d.)
|
|
|
|
|
Masonite International Corp.,
Gtd. Notes, 144A
| 5.375 %
| 02/01/28
|
| 125
| $114,775
|
| Standard Industries, Inc.,
|
|
|
|
|
|
| Sr. Unsec’d. Notes, 144A
| 4.750
| 01/15/28
|
| 1,825
| 1,635,465
|
| Sr. Unsec’d. Notes, 144A(aa)
| 5.000
| 02/15/27
|
| 3,300
| 3,051,576
|
|
|
|
|
|
| 6,737,862
|
| Chemicals 1.6%
|
Avient Corp.,
Sr. Unsec’d. Notes, 144A(aa)
| 5.750
| 05/15/25
|
| 2,474
| 2,422,275
|
Cornerstone Chemical Co.,
Sr. Sec’d. Notes, 144A, Cash coupon 8.250% and PIK 2.000% (original cost $379,118; purchased 05/19/21)(f)
| 10.250
| 09/01/27(d)
|
| 395
| 336,509
|
NOVA Chemicals Corp. (Canada),
Sr. Unsec’d. Notes, 144A
| 4.875
| 06/01/24
|
| 665
| 653,496
|
Olympus Water US Holding Corp.,
Sr. Sec’d. Notes, 144A
| 9.750
| 11/15/28
|
| 875
| 855,135
|
Rain CII Carbon LLC/CII Carbon Corp.,
Sec’d. Notes, 144A
| 7.250
| 04/01/25
|
| 41
| 39,375
|
SNF Group SACA (France),
Sr. Unsec’d. Notes, 144A
| 3.125
| 03/15/27
|
| 2,025
| 1,776,998
|
TPC Group, Inc.,
Sr. Sec’d. Notes, 144A (original cost $202,855; purchased 12/15/22 - 05/16/23)(f)
| 13.000
| 12/16/27
|
| 204
| 204,640
|
WR Grace Holdings LLC,
Sr. Sec’d. Notes, 144A
| 4.875
| 06/15/27
|
| 175
| 157,421
|
|
|
|
|
|
| 6,445,849
|
| Coal 0.2%
|
Conuma Resources Ltd. (Canada),
Sr. Sec’d. Notes, 144A
| 13.125
| 05/01/28
|
| 700
| 646,639
|
| Commercial Services 5.7%
|
Adtalem Global Education, Inc.,
Sr. Sec’d. Notes, 144A
| 5.500
| 03/01/28
|
| 646
| 591,884
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Commercial Services (cont’d.)
|
Allied Universal Holdco LLC/Allied Universal
Finance Corp.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A(aa)
| 6.625 %
| 07/15/26
|
| 7,600
| $7,114,934
|
| Sr. Unsec’d. Notes, 144A
| 9.750
| 07/15/27
|
| 797
| 694,106
|
|
|
|
|
|
|
Alta Equipment Group, Inc.,
Sec’d. Notes, 144A
| 5.625
| 04/15/26
|
| 1,925
| 1,725,982
|
AMN Healthcare, Inc.,
Gtd. Notes, 144A
| 4.625
| 10/01/27
|
| 950
| 852,017
|
Avis Budget Car Rental LLC/Avis Budget Finance,
Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.750
| 07/15/27
|
| 825
| 757,301
|
| Gtd. Notes, 144A
| 5.750
| 07/15/27
|
| 1,625
| 1,485,083
|
|
|
|
|
|
|
Brink’s Co. (The),
Gtd. Notes, 144A
| 5.500
| 07/15/25
|
| 825
| 804,332
|
Herc Holdings, Inc.,
Gtd. Notes, 144A
| 5.500
| 07/15/27
|
| 2,576
| 2,423,743
|
Hertz Corp. (The),
Gtd. Notes, 144A
| 4.625
| 12/01/26
|
| 550
| 464,224
|
MPH Acquisition Holdings LLC,
Sr. Sec’d. Notes, 144A
| 5.500
| 09/01/28
|
| 675
| 563,827
|
United Rentals North America, Inc.,
Gtd. Notes
| 4.875
| 01/15/28
|
| 125
| 116,134
|
Verscend Escrow Corp.,
Sr. Unsec’d. Notes, 144A(aa)
| 9.750
| 08/15/26
|
| 5,235
| 5,198,943
|
VT Topco, Inc.,
Sr. Sec’d. Notes, 144A
| 8.500
| 08/15/30
|
| 250
| 243,735
|
|
|
|
|
|
| 23,036,245
|
| Computers 0.5%
|
CA Magnum Holdings (India),
Sr. Sec’d. Notes, 144A
| 5.375
| 10/31/26
|
| 250
| 217,715
|
Tempo Acquisition LLC/Tempo Acquisition Finance Corp.,
Sr. Sec’d. Notes, 144A
| 5.750
| 06/01/25
|
| 1,700
| 1,660,853
|
|
|
|
|
|
| 1,878,568
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Distribution/Wholesale 0.1%
|
H&E Equipment Services, Inc.,
Gtd. Notes, 144A
| 3.875 %
| 12/15/28
|
| 200
| $169,455
|
Ritchie Bros Holdings, Inc. (Canada),
Sr. Sec’d. Notes, 144A
| 6.750
| 03/15/28
|
| 125
| 122,500
|
|
|
|
|
|
| 291,955
|
| Diversified Financial Services 5.1%
|
Bread Financial Holdings, Inc.,
Gtd. Notes, 144A(aa)
| 4.750
| 12/15/24
|
| 3,225
| 3,124,562
|
| goeasy Ltd. (Canada),
|
|
|
|
|
|
| Gtd. Notes, 144A
| 4.375
| 05/01/26
|
| 450
| 405,562
|
| Gtd. Notes, 144A(aa)
| 5.375
| 12/01/24
|
| 4,241
| 4,156,180
|
|
|
|
|
|
|
LD Holdings Group LLC,
Gtd. Notes, 144A
| 6.125
| 04/01/28
|
| 1,650
| 915,272
|
LFS Topco LLC,
Gtd. Notes, 144A
| 5.875
| 10/15/26
|
| 1,050
| 887,482
|
Macquarie Airfinance Holdings Ltd. (United
Kingdom),
|
|
|
|
|
|
| Sr. Unsec’d. Notes, 144A
| 8.125
| 03/30/29
|
| 200
| 196,392
|
| Sr. Unsec’d. Notes, 144A
| 8.375
| 05/01/28
|
| 100
| 99,396
|
| Nationstar Mortgage Holdings, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.500
| 08/15/28
|
| 500
| 441,585
|
| Gtd. Notes, 144A
| 6.000
| 01/15/27
|
| 1,256
| 1,168,974
|
| Navient Corp.,
|
|
|
|
|
|
| Sr. Unsec’d. Notes
| 5.875
| 10/25/24
|
| 200
| 195,664
|
| Sr. Unsec’d. Notes
| 6.750
| 06/25/25
|
| 950
| 927,814
|
| Sr. Unsec’d. Notes, MTN
| 6.125
| 03/25/24
|
| 1,325
| 1,318,561
|
| OneMain Finance Corp.,
|
|
|
|
|
|
| Gtd. Notes
| 6.125
| 03/15/24
|
| 250
| 249,418
|
| Gtd. Notes
| 6.875
| 03/15/25
|
| 1,075
| 1,061,377
|
| Gtd. Notes(aa)
| 7.125
| 03/15/26
|
| 4,150
| 4,033,025
|
|
|
|
|
|
|
PennyMac Financial Services, Inc.,
Gtd. Notes, 144A
| 5.375
| 10/15/25
|
| 1,050
| 999,530
|
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.,
Gtd. Notes, 144A
| 2.875
| 10/15/26
|
| 750
| 653,460
|
|
|
|
|
|
| 20,834,254
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Electric 2.4%
|
| Calpine Corp.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 4.500 %
| 02/15/28
|
| 900
| $811,737
|
| Sr. Sec’d. Notes, 144A(aa)
| 5.250
| 06/01/26
|
| 1,716
| 1,653,374
|
| Sr. Unsec’d. Notes, 144A
| 5.125
| 03/15/28
|
| 1,000
| 894,964
|
| NRG Energy, Inc.,
|
|
|
|
|
|
| Gtd. Notes
| 5.750
| 01/15/28
|
| 1,132
| 1,063,043
|
| Gtd. Notes, 144A
| 3.875
| 02/15/32
|
| 25
| 18,673
|
| Gtd. Notes, 144A
| 5.250
| 06/15/29
|
| 400
| 353,699
|
| Vistra Operations Co. LLC,
|
|
|
|
|
|
| Gtd. Notes, 144A(aa)
| 5.000
| 07/31/27
|
| 3,750
| 3,440,448
|
| Gtd. Notes, 144A
| 5.500
| 09/01/26
|
| 1,350
| 1,287,041
|
| Gtd. Notes, 144A
| 5.625
| 02/15/27
|
| 150
| 141,167
|
|
|
|
|
|
| 9,664,146
|
| Electrical Components & Equipment 1.2%
|
Energizer Holdings, Inc.,
Gtd. Notes, 144A
| 6.500
| 12/31/27
|
| 1,500
| 1,407,012
|
| WESCO Distribution, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 7.125
| 06/15/25
|
| 2,175
| 2,178,154
|
| Gtd. Notes, 144A
| 7.250
| 06/15/28
|
| 1,200
| 1,193,502
|
|
|
|
|
|
| 4,778,668
|
| Electronics 0.4%
|
Likewize Corp.,
Sr. Sec’d. Notes, 144A
| 9.750
| 10/15/25
|
| 1,800
| 1,789,314
|
| Engineering & Construction 0.0%
|
Brand Industrial Services, Inc.,
Sr. Sec’d. Notes, 144A
| 10.375
| 08/01/30
|
| 75
| 74,521
|
| Entertainment 4.0%
|
| Caesars Entertainment, Inc.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A(aa)
| 6.250
| 07/01/25
|
| 5,300
| 5,216,005
|
| Sr. Sec’d. Notes, 144A
| 7.000
| 02/15/30
|
| 1,600
| 1,540,029
|
| Sr. Unsec’d. Notes, 144A
| 4.625
| 10/15/29
|
| 200
| 164,481
|
|
|
|
|
|
|
CCM Merger, Inc.,
Sr. Unsec’d. Notes, 144A
| 6.375
| 05/01/26
|
| 1,750
| 1,659,860
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Entertainment (cont’d.)
|
|
|
|
|
Golden Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
| 7.625 %
| 04/15/26
|
| 1,000
| $1,002,908
|
| International Game Technology PLC,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 6.250
| 01/15/27
|
| 550
| 534,236
|
| Sr. Sec’d. Notes, 144A
| 6.500
| 02/15/25
|
| 1,550
| 1,532,640
|
|
|
|
|
|
|
Jacobs Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
| 6.750
| 02/15/29
|
| 225
| 188,284
|
Motion Bondco DAC (United Kingdom),
Gtd. Notes, 144A
| 6.625
| 11/15/27
|
| 650
| 581,750
|
Penn Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A(aa)
| 5.625
| 01/15/27
|
| 4,150
| 3,796,439
|
|
|
|
|
|
| 16,216,632
|
| Foods 1.7%
|
Albertson’s Cos., Inc./Safeway, Inc./New
Albertson’s LP/Albertson’s LLC,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 3.250
| 03/15/26
|
| 587
| 542,757
|
| Gtd. Notes, 144A
| 4.625
| 01/15/27
|
| 2,175
| 2,041,763
|
| Gtd. Notes, 144A
| 6.500
| 02/15/28
|
| 75
| 73,630
|
| B&G Foods, Inc.,
|
|
|
|
|
|
| Gtd. Notes(aa)
| 5.250
| 04/01/25
|
| 1,228
| 1,178,819
|
| Gtd. Notes
| 5.250
| 09/15/27
|
| 650
| 534,964
|
|
|
|
|
|
|
Chobani LLC/Chobani Finance Corp., Inc.,
Gtd. Notes, 144A(aa)
| 7.500
| 04/15/25
|
| 1,500
| 1,478,666
|
Post Holdings, Inc.,
Gtd. Notes, 144A
| 5.625
| 01/15/28
|
| 1,338
| 1,242,764
|
|
|
|
|
|
| 7,093,363
|
| Gas 0.4%
|
| AmeriGas Partners LP/AmeriGas Finance Corp.,
|
|
|
|
|
|
| Sr. Unsec’d. Notes
| 5.750
| 05/20/27
|
| 1,225
| 1,125,458
|
| Sr. Unsec’d. Notes
| 5.875
| 08/20/26
|
| 550
| 515,649
|
|
|
|
|
|
| 1,641,107
|
| Healthcare-Services 3.2%
|
| HCA, Inc.,
|
|
|
|
|
|
| Gtd. Notes(aa)
| 5.875
| 02/15/26
|
| 4,214
| 4,176,758
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Healthcare-Services (cont’d.)
|
| HCA, Inc., (cont’d.)
|
|
|
|
|
|
| Gtd. Notes
| 7.050 %
| 12/01/27
|
| 792
|
$808,669
|
|
|
|
|
|
|
Legacy LifePoint Health LLC,
Sr. Sec’d. Notes, 144A
| 4.375
| 02/15/27
|
| 210
| 173,604
|
Prime Healthcare Services, Inc.,
Sr. Sec’d. Notes, 144A(aa)
| 7.250
| 11/01/25
|
| 3,833
| 3,507,178
|
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc.,
Gtd. Notes, 144A(aa)
| 9.750
| 12/01/26
|
| 3,175
| 2,989,957
|
| Tenet Healthcare Corp.,
|
|
|
|
|
|
| Gtd. Notes
| 6.125
| 10/01/28
|
| 725
| 670,724
|
| Sr. Sec’d. Notes
| 4.625
| 06/15/28
|
| 700
| 623,226
|
| Sr. Sec’d. Notes
| 4.875
| 01/01/26
|
| 150
| 143,905
|
|
|
|
|
|
| 13,094,021
|
| Home Builders 6.1%
|
Adams Homes, Inc.,
Sr. Unsec’d. Notes, 144A
| 9.250
| 10/15/28
|
| 525
| 512,780
|
Ashton Woods USA LLC/Ashton Woods Finance Co.,
Sr. Unsec’d. Notes, 144A
| 6.625
| 01/15/28
|
| 600
| 549,481
|
Beazer Homes USA, Inc.,
Gtd. Notes(aa)
| 5.875
| 10/15/27
|
| 3,775
| 3,371,369
|
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada),
Gtd. Notes, 144A(aa)
| 6.250
| 09/15/27
|
| 3,437
| 2,985,894
|
Century Communities, Inc.,
Gtd. Notes
| 6.750
| 06/01/27
|
| 1,000
| 964,947
|
Empire Communities Corp. (Canada),
Sr. Unsec’d. Notes, 144A(aa)
| 7.000
| 12/15/25
|
| 2,920
| 2,715,600
|
Forestar Group, Inc.,
Gtd. Notes, 144A
| 3.850
| 05/15/26
|
| 2,356
| 2,106,261
|
KB Home,
Gtd. Notes
| 6.875
| 06/15/27
|
| 432
| 428,798
|
M/I Homes, Inc.,
Gtd. Notes
| 4.950
| 02/01/28
|
| 925
| 829,729
|
Mattamy Group Corp. (Canada),
Sr. Unsec’d. Notes, 144A(aa)
| 5.250
| 12/15/27
|
| 3,350
| 3,006,625
|
Meritage Homes Corp.,
Gtd. Notes
| 6.000
| 06/01/25
|
| 695
| 681,965
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Home Builders (cont’d.)
|
Shea Homes LP/Shea Homes Funding Corp.,
Sr. Unsec’d. Notes
| 4.750 %
| 02/15/28
|
| 550
| $486,086
|
STL Holding Co. LLC,
Sr. Unsec’d. Notes, 144A
| 7.500
| 02/15/26
|
| 1,280
| 1,199,360
|
| Taylor Morrison Communities, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.875
| 06/15/27
|
| 2,296
| 2,152,464
|
| Gtd. Notes, 144A
| 6.625
| 07/15/27
|
| 350
| 336,273
|
|
|
|
|
|
|
TRI Pointe Group, Inc./TRI Pointe Homes, Inc.,
Gtd. Notes
| 5.875
| 06/15/24
|
| 700
| 694,246
|
Tri Pointe Homes, Inc.,
Gtd. Notes
| 5.250
| 06/01/27
|
| 1,850
| 1,690,480
|
|
|
|
|
|
| 24,712,358
|
| Household Products/Wares 0.2%
|
Kronos Acquisition Holdings, Inc./KIK Custom
Products, Inc. (Canada),
|
|
|
|
|
|
| Gtd. Notes, 144A
| 7.000
| 12/31/27
|
| 500
| 425,000
|
| Sr. Sec’d. Notes, 144A
| 5.000
| 12/31/26
|
| 250
| 226,250
|
|
|
|
|
|
| 651,250
|
| Housewares 0.2%
|
| Scotts Miracle-Gro Co. (The),
|
|
|
|
|
|
| Gtd. Notes
| 4.000
| 04/01/31
|
| 575
| 428,021
|
| Gtd. Notes
| 4.375
| 02/01/32
|
| 125
| 91,678
|
| Gtd. Notes
| 4.500
| 10/15/29
|
| 300
| 237,180
|
|
|
|
|
|
| 756,879
|
| Internet 2.5%
|
Cablevision Lightpath LLC,
Sr. Sec’d. Notes, 144A
| 3.875
| 09/15/27
|
| 2,120
| 1,729,382
|
Cogent Communications Group, Inc.,
Sr. Sec’d. Notes, 144A
| 3.500
| 05/01/26
|
| 700
| 638,070
|
Gen Digital, Inc.,
Sr. Unsec’d. Notes, 144A(aa)
| 5.000
| 04/15/25
|
| 6,150
| 5,981,712
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Internet (cont’d.)
|
Go Daddy Operating Co. LLC/GD Finance Co., Inc.,
Gtd. Notes, 144A
| 5.250 %
| 12/01/27
|
| 600
| $566,378
|
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.,
Sr. Sec’d. Notes, 144A
| 4.750
| 04/30/27
|
| 1,435
| 1,283,593
|
|
|
|
|
|
| 10,199,135
|
| Iron/Steel 1.2%
|
ATI, Inc.,
Sr. Unsec’d. Notes
| 7.250
| 08/15/30
|
| 200
| 192,632
|
Big River Steel LLC/BRS Finance Corp.,
Sr. Sec’d. Notes, 144A
| 6.625
| 01/31/29
|
| 1,859
| 1,841,247
|
| Cleveland-Cliffs, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 6.750
| 04/15/30
|
| 550
| 510,565
|
| Sr. Sec’d. Notes, 144A
| 6.750
| 03/15/26
|
| 1,750
| 1,743,214
|
|
|
|
|
|
|
Mineral Resources Ltd. (Australia),
Sr. Unsec’d. Notes, 144A
| 9.250
| 10/01/28
|
| 550
| 550,000
|
|
|
|
|
|
| 4,837,658
|
| Leisure Time 3.6%
|
| Carnival Corp.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.750
| 03/01/27
|
| 1,225
| 1,090,250
|
| Gtd. Notes, 144A
| 7.625
| 03/01/26
|
| 1,450
| 1,405,717
|
| Sr. Sec’d. Notes, 144A
| 4.000
| 08/01/28
|
| 350
| 303,695
|
| Sr. Sec’d. Notes, 144A
| 7.000
| 08/15/29
|
| 575
| 563,500
|
|
|
|
|
|
|
Lindblad Expeditions Holdings, Inc.,
Sr. Sec’d. Notes, 144A
| 9.000
| 05/15/28
|
| 475
| 464,358
|
| NCL Corp. Ltd.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.875
| 03/15/26
|
| 1,650
| 1,480,875
|
| Sr. Sec’d. Notes, 144A
| 5.875
| 02/15/27
|
| 975
| 897,000
|
| Sr. Sec’d. Notes, 144A
| 8.125
| 01/15/29
|
| 175
| 170,406
|
| Sr. Sec’d. Notes, 144A
| 8.375
| 02/01/28
|
| 725
| 718,656
|
| Sr. Unsec’d. Notes, 144A
| 3.625
| 12/15/24
|
| 200
| 189,250
|
| Royal Caribbean Cruises Ltd.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 7.250
| 01/15/30
|
| 225
| 221,625
|
| Sr. Unsec’d. Notes, 144A
| 5.375
| 07/15/27
|
| 1,025
| 941,719
|
| Sr. Unsec’d. Notes, 144A
| 5.500
| 04/01/28
|
| 725
| 658,829
|
| Sr. Unsec’d. Notes, 144A
| 11.625
| 08/15/27
|
| 3,625
| 3,932,654
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Leisure Time (cont’d.)
|
| Viking Cruises Ltd.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.875 %
| 09/15/27
|
| 1,475
| $1,328,828
|
| Gtd. Notes, 144A
| 6.250
| 05/15/25
|
| 500
| 486,250
|
|
|
|
|
|
| 14,853,612
|
| Lodging 3.9%
|
Genting New York LLC/GENNY Capital, Inc.,
Sr. Unsec’d. Notes, 144A
| 3.300
| 02/15/26
|
| 1,375
| 1,230,141
|
Las Vegas Sands Corp.,
Sr. Unsec’d. Notes
| 3.500
| 08/18/26
|
| 500
| 459,966
|
| MGM Resorts International,
|
|
|
|
|
|
| Gtd. Notes(aa)
| 4.625
| 09/01/26
|
| 4,585
| 4,257,941
|
| Gtd. Notes
| 5.750
| 06/15/25
|
| 75
| 73,378
|
| Gtd. Notes(aa)
| 6.750
| 05/01/25
|
| 3,162
| 3,144,177
|
|
|
|
|
|
|
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A(aa)
| 5.875
| 05/15/25
|
| 3,896
| 3,744,851
|
| Wynn Macau Ltd. (Macau),
|
|
|
|
|
|
| Sr. Unsec’d. Notes, 144A
| 5.500
| 01/15/26
|
| 650
| 598,988
|
| Sr. Unsec’d. Notes, 144A
| 5.500
| 10/01/27
|
| 2,925
| 2,544,136
|
|
|
|
|
|
| 16,053,578
|
| Machinery-Diversified 0.9%
|
Maxim Crane Works Holdings Capital LLC,
Sec’d. Notes, 144A
| 11.500
| 09/01/28
|
| 900
| 878,478
|
TK Elevator US Newco, Inc. (Germany),
Sr. Sec’d. Notes, 144A(aa)
| 5.250
| 07/15/27
|
| 3,175
| 2,881,313
|
|
|
|
|
|
| 3,759,791
|
| Media 10.8%
|
AMC Networks, Inc.,
Gtd. Notes
| 5.000
| 04/01/24
|
| 1,280
| 1,271,979
|
| CCO Holdings LLC/CCO Holdings Capital Corp.,
|
|
|
|
|
|
| Sr. Unsec’d. Notes, 144A(aa)
| 5.000
| 02/01/28
|
| 2,560
| 2,291,349
|
| Sr. Unsec’d. Notes, 144A(aa)
| 5.125
| 05/01/27
|
| 5,165
| 4,751,552
|
| Sr. Unsec’d. Notes, 144A(aa)
| 5.500
| 05/01/26
|
| 3,074
| 2,941,159
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Media (cont’d.)
|
| CSC Holdings LLC,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.375 %
| 02/01/28
|
| 500
| $398,261
|
| Gtd. Notes, 144A
| 5.500
| 04/15/27
|
| 3,520
| 2,939,133
|
| Sr. Unsec’d. Notes
| 5.250
| 06/01/24
|
| 715
| 668,538
|
| Sr. Unsec’d. Notes, 144A
| 7.500
| 04/01/28
|
| 200
| 128,813
|
| DISH DBS Corp.,
|
|
|
|
|
|
| Gtd. Notes
| 5.875
| 11/15/24
|
| 1,850
| 1,697,375
|
| Gtd. Notes
| 7.750
| 07/01/26
|
| 2,595
| 1,737,385
|
|
|
|
|
|
|
DISH Network Corp.,
Sr. Sec’d. Notes, 144A
| 11.750
| 11/15/27
|
| 1,690
| 1,673,850
|
Gray Television, Inc.,
Gtd. Notes, 144A(aa)
| 5.875
| 07/15/26
|
| 5,173
| 4,608,379
|
iHeartCommunications, Inc.,
Sr. Sec’d. Notes(aa)
| 6.375
| 05/01/26
|
| 2,715
| 2,212,553
|
Midcontinent Communications/Midcontinent Finance Corp.,
Gtd. Notes, 144A
| 5.375
| 08/15/27
|
| 2,180
| 1,990,199
|
Nexstar Media, Inc.,
Gtd. Notes, 144A(aa)
| 5.625
| 07/15/27
|
| 3,345
| 3,009,381
|
Radiate Holdco LLC/Radiate Finance, Inc.,
Sr. Sec’d. Notes, 144A(aa)
| 4.500
| 09/15/26
|
| 3,350
| 2,568,380
|
Sinclair Television Group, Inc.,
Gtd. Notes, 144A
| 5.125
| 02/15/27
|
| 1,250
| 989,327
|
Univision Communications, Inc.,
Sr. Sec’d. Notes, 144A(aa)
| 5.125
| 02/15/25
|
| 5,084
| 4,967,066
|
Videotron Ltd. (Canada),
Gtd. Notes, 144A(aa)
| 5.375
| 06/15/24
|
| 3,214
| 3,177,843
|
|
|
|
|
|
| 44,022,522
|
| Mining 2.3%
|
Arsenal AIC Parent LLC,
Sr. Sec’d. Notes, 144A
| 8.000
| 10/01/30
|
| 200
| 197,488
|
Constellium SE,
Gtd. Notes, 144A
| 5.875
| 02/15/26
|
| 825
| 789,938
|
| First Quantum Minerals Ltd. (Zambia),
|
|
|
|
|
|
| Gtd. Notes, 144A
| 6.875
| 03/01/26
|
| 200
| 175,450
|
| Gtd. Notes, 144A
| 6.875
| 10/15/27
|
| 400
| 337,000
|
| Gtd. Notes, 144A
| 7.500
| 04/01/25
|
| 1,879
| 1,752,355
|
|
|
|
|
|
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Mining (cont’d.)
|
|
|
|
|
Hecla Mining Co.,
Gtd. Notes
| 7.250 %
| 02/15/28
|
| 350
| $336,318
|
Hudbay Minerals, Inc. (Canada),
Gtd. Notes, 144A(aa)
| 4.500
| 04/01/26
|
| 2,920
| 2,703,628
|
New Gold, Inc. (Canada),
Gtd. Notes, 144A
| 7.500
| 07/15/27
|
| 625
| 586,531
|
Novelis Corp.,
Gtd. Notes, 144A(aa)
| 3.250
| 11/15/26
|
| 2,945
| 2,624,970
|
|
|
|
|
|
| 9,503,678
|
| Miscellaneous Manufacturing 0.5%
|
Amsted Industries, Inc.,
Gtd. Notes, 144A
| 5.625
| 07/01/27
|
| 1,523
| 1,407,171
|
Trinity Industries, Inc.,
Gtd. Notes, 144A
| 7.750
| 07/15/28
|
| 500
| 493,782
|
|
|
|
|
|
| 1,900,953
|
| Office/Business Equipment 0.9%
|
CDW LLC/CDW Finance Corp.,
Gtd. Notes(aa)
| 4.125
| 05/01/25
|
| 3,982
| 3,845,322
|
| Oil & Gas 5.4%
|
Aethon United BR LP/Aethon United Finance Corp.,
Sr. Unsec’d. Notes, 144A
| 8.250
| 02/15/26
|
| 1,300
| 1,291,519
|
Ascent Resources Utica Holdings LLC/ARU Finance Corp.,
Gtd. Notes, 144A(aa)
| 7.000
| 11/01/26
|
| 4,025
| 3,889,737
|
Athabasca Oil Corp. (Canada),
Sec’d. Notes, 144A
| 9.750
| 11/01/26
|
| 1,587
| 1,638,577
|
Chesapeake Energy Corp.,
Gtd. Notes, 144A(aa)
| 5.500
| 02/01/26
|
| 2,936
| 2,850,803
|
| CITGO Petroleum Corp.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 6.375
| 06/15/26
|
| 875
| 860,549
|
| Sr. Sec’d. Notes, 144A
| 7.000
| 06/15/25
|
| 200
| 196,697
|
| Civitas Resources, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 8.375
| 07/01/28
|
| 650
| 654,665
|
| Gtd. Notes, 144A
| 8.625
| 11/01/30
|
| 150
| 152,673
|
|
|
|
|
|
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Oil & Gas (cont’d.)
|
|
|
|
|
CNX Resources Corp.,
Gtd. Notes, 144A
| 7.250 %
| 03/14/27
|
| 675
| $664,719
|
| Crescent Energy Finance LLC,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 7.250
| 05/01/26
|
| 200
| 193,470
|
| Gtd. Notes, 144A
| 9.250
| 02/15/28
|
| 400
| 405,642
|
|
|
|
|
|
|
Diamond Foreign Asset Co./Diamond Finance LLC,
Sec’d. Notes, 144A
| 8.500
| 10/01/30
|
| 150
| 145,470
|
Endeavor Energy Resources LP/EER Finance, Inc.,
Sr. Unsec’d. Notes, 144A
| 5.750
| 01/30/28
|
| 600
| 575,887
|
MEG Energy Corp. (Canada),
Gtd. Notes, 144A
| 7.125
| 02/01/27
|
| 275
| 277,063
|
Nabors Industries, Inc.,
Gtd. Notes, 144A
| 7.375
| 05/15/27
|
| 900
| 841,733
|
Noble Finance II LLC,
Gtd. Notes, 144A
| 8.000
| 04/15/30
|
| 175
| 175,601
|
Parkland Corp. (Canada),
Gtd. Notes, 144A
| 5.875
| 07/15/27
|
| 1,150
| 1,101,125
|
Precision Drilling Corp. (Canada),
Gtd. Notes, 144A
| 7.125
| 01/15/26
|
| 525
| 513,844
|
Preem Holdings AB (Sweden),
Sr. Unsec’d. Notes, 144A
| 12.000
| 06/30/27
| EUR
| 900
| 1,019,379
|
Range Resources Corp.,
Gtd. Notes
| 4.875
| 05/15/25
|
| 200
| 194,734
|
SilverBow Resources, Inc.,
Sec’d. Notes, 144A, 3 Month LIBOR + 0.750%^
| 13.052(c)
| 12/15/28
|
| 1,750
| 1,719,375
|
| Southwestern Energy Co.,
|
|
|
|
|
|
| Gtd. Notes
| 5.375
| 02/01/29
|
| 225
| 208,168
|
| Gtd. Notes
| 8.375
| 09/15/28
|
| 900
| 930,606
|
|
|
|
|
|
|
Sunoco LP/Sunoco Finance Corp.,
Gtd. Notes
| 6.000
| 04/15/27
|
| 1,200
| 1,157,044
|
Valaris Ltd.,
Sec’d. Notes, 144A
| 8.375
| 04/30/30
|
| 225
| 220,500
|
| Vital Energy, Inc.,
|
|
|
|
|
|
| Gtd. Notes
| 9.750
| 10/15/30
|
| 75
| 73,519
|
| Gtd. Notes
| 10.125
| 01/15/28
|
| 150
| 150,433
|
|
|
|
|
|
| 22,103,532
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Packaging & Containers 1.6%
|
Ardagh Packaging Finance PLC/Ardagh Holdings
USA, Inc.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 4.125 %
| 08/15/26
|
| 300
| $264,750
|
| Sr. Unsec’d. Notes, 144A
| 5.250
| 08/15/27
|
| 1,000
| 725,000
|
|
|
|
|
|
|
Graham Packaging Co., Inc.,
Gtd. Notes, 144A
| 7.125
| 08/15/28
|
| 500
| 387,876
|
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada),
Sr. Sec’d. Notes, 144A
| 6.000
| 09/15/28
|
| 1,700
| 1,411,000
|
| LABL, Inc.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 6.750
| 07/15/26
|
| 250
| 230,369
|
| Sr. Sec’d. Notes, 144A
| 9.500
| 11/01/28
|
| 175
| 170,250
|
| Sr. Unsec’d. Notes, 144A
| 10.500
| 07/15/27
|
| 1,400
| 1,217,245
|
|
|
|
|
|
|
Mauser Packaging Solutions Holding Co.,
Sr. Sec’d. Notes, 144A
| 7.875
| 08/15/26
|
| 475
| 445,031
|
Owens-Brockway Glass Container, Inc.,
Gtd. Notes, 144A
| 6.625
| 05/13/27
|
| 160
| 152,210
|
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.,
Sr. Sec’d. Notes, 144A
| 4.375
| 10/15/28
|
| 575
| 491,451
|
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC,
Sr. Sec’d. Notes, 144A
| 4.000
| 10/15/27
|
| 150
| 131,948
|
Sealed Air Corp./Sealed Air Corp. US,
Gtd. Notes, 144A
| 6.125
| 02/01/28
|
| 150
| 142,670
|
Trident TPI Holdings, Inc.,
Gtd. Notes, 144A
| 12.750
| 12/31/28
|
| 875
| 896,819
|
|
|
|
|
|
| 6,666,619
|
| Pharmaceuticals 2.1%
|
AdaptHealth LLC,
Gtd. Notes, 144A
| 6.125
| 08/01/28
|
| 2,025
| 1,673,819
|
Bausch Health Americas, Inc.,
Gtd. Notes, 144A(aa)
| 8.500
| 01/31/27
|
| 7,909
| 3,553,514
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Pharmaceuticals (cont’d.)
|
Organon & Co./Organon Foreign Debt Co-Issuer BV,
Sr. Sec’d. Notes, 144A
| 4.125 %
| 04/30/28
|
| 1,000
| $863,897
|
P&L Development LLC/PLD Finance Corp.,
Sr. Sec’d. Notes, 144A(aa)
| 7.750
| 11/15/25
|
| 3,514
| 2,359,697
|
|
|
|
|
|
| 8,450,927
|
| Pipelines 3.7%
|
Antero Midstream Partners LP/Antero Midstream
Finance Corp.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.750
| 03/01/27
|
| 375
| 358,730
|
| Gtd. Notes, 144A
| 7.875
| 05/15/26
|
| 2,525
| 2,548,475
|
| EQM Midstream Partners LP,
|
|
|
|
|
|
| Sr. Unsec’d. Notes, 144A
| 6.000
| 07/01/25
|
| 505
| 495,359
|
| Sr. Unsec’d. Notes, 144A
| 6.500
| 07/01/27
|
| 1,475
| 1,440,624
|
| Sr. Unsec’d. Notes, 144A
| 7.500
| 06/01/27
|
| 400
| 397,336
|
|
|
|
|
|
|
Global Partners LP/GLP Finance Corp.,
Gtd. Notes
| 7.000
| 08/01/27
|
| 750
| 706,681
|
Howard Midstream Energy Partners LLC,
Sr. Unsec’d. Notes, 144A
| 8.875
| 07/15/28
|
| 225
| 226,889
|
Northriver Midstream Finance LP (Canada),
Sr. Sec’d. Notes, 144A
| 5.625
| 02/15/26
|
| 375
| 355,313
|
Rockies Express Pipeline LLC,
Sr. Unsec’d. Notes, 144A
| 3.600
| 05/15/25
|
| 475
| 449,500
|
Tallgrass Energy Partners LP/Tallgrass Energy
Finance Corp.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 6.000
| 03/01/27
|
| 1,384
| 1,270,169
|
| Gtd. Notes, 144A
| 7.500
| 10/01/25
|
| 1,500
| 1,481,501
|
| Venture Global LNG, Inc.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 9.500
| 02/01/29
|
| 2,225
| 2,256,835
|
| Sr. Sec’d. Notes, 144A
| 9.875
| 02/01/32
|
| 1,175
| 1,191,727
|
|
|
|
|
|
|
Western Midstream Operating LP,
Sr. Unsec’d. Notes
| 3.100
| 02/01/25
|
| 2,100
| 2,018,182
|
|
|
|
|
|
| 15,197,321
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Real Estate 1.0%
|
Five Point Operating Co. LP/Five Point Capital Corp.,
Gtd. Notes, 144A
| 7.875 %
| 11/15/25
|
| 1,975
| $1,864,123
|
Greystar Real Estate Partners LLC,
Sr. Sec’d. Notes, 144A
| 7.750
| 09/01/30
|
| 250
| 245,598
|
Howard Hughes Corp. (The),
Gtd. Notes, 144A
| 5.375
| 08/01/28
|
| 2,372
| 2,087,319
|
|
|
|
|
|
| 4,197,040
|
| Real Estate Investment Trusts (REITs) 2.2%
|
| Diversified Healthcare Trust,
|
|
|
|
|
|
| Gtd. Notes(aa)
| 9.750
| 06/15/25
|
| 2,684
| 2,604,664
|
| Sr. Unsec’d. Notes
| 4.750
| 05/01/24
|
| 500
| 469,252
|
| MPT Operating Partnership LP/MPT Finance Corp.,
|
|
|
|
|
|
| Gtd. Notes
| 0.993
| 10/15/26
| EUR
| 200
| 155,859
|
| Gtd. Notes
| 5.000
| 10/15/27
|
| 2,250
| 1,743,045
|
|
|
|
|
|
|
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer,
Sr. Sec’d. Notes, 144A(aa)
| 7.500
| 06/01/25
|
| 2,750
| 2,727,398
|
| RHP Hotel Properties LP/RHP Finance Corp.,
|
|
|
|
|
|
| Gtd. Notes
| 4.750
| 10/15/27
|
| 275
| 250,133
|
| Gtd. Notes, 144A
| 7.250
| 07/15/28
|
| 200
| 195,027
|
|
|
|
|
|
|
VICI Properties LP/VICI Note Co., Inc.,
Gtd. Notes, 144A
| 4.500
| 09/01/26
|
| 901
| 843,445
|
|
|
|
|
|
| 8,988,823
|
| Retail 2.4%
|
| 1011778 BC ULC/New Red Finance, Inc. (Canada),
|
|
|
|
|
|
| Sec’d. Notes, 144A
| 4.375
| 01/15/28
|
| 792
| 710,820
|
| Sr. Sec’d. Notes, 144A
| 3.875
| 01/15/28
|
| 50
| 44,500
|
|
|
|
|
|
|
At Home Group, Inc.,
Sr. Sec’d. Notes, 144A
| 4.875
| 07/15/28
|
| 100
| 34,198
|
| Brinker International, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 5.000
| 10/01/24
|
| 525
| 512,139
|
| Gtd. Notes, 144A
| 8.250
| 07/15/30
|
| 850
| 820,737
|
| eG Global Finance PLC (United Kingdom),
|
|
|
|
|
|
| Sr. Sec’d. Notes
| 4.375
| 02/07/25
| EUR
| 185
| 191,057
|
| Sr. Sec’d. Notes
| 6.250
| 10/30/25
| EUR
| 285
| 295,423
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Retail (cont’d.)
|
| eG Global Finance PLC (United Kingdom), (cont’d.)
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 6.750 %
| 02/07/25
|
| 1,125
| $1,113,075
|
| Sr. Sec’d. Notes, 144A(aa)
| 8.500
| 10/30/25
|
| 4,511
| 4,432,058
|
|
|
|
|
|
|
Ferrellgas LP/Ferrellgas Finance Corp.,
Sr. Unsec’d. Notes, 144A (original cost $226,012; purchased 08/25/22 - 03/17/23)(f)
| 5.375
| 04/01/26
|
| 250
| 234,171
|
Sally Holdings LLC/Sally Capital, Inc.,
Gtd. Notes
| 5.625
| 12/01/25
|
| 1,100
| 1,063,130
|
Suburban Propane Partners LP/Suburban Energy Finance Corp.,
Sr. Unsec’d. Notes
| 5.875
| 03/01/27
|
| 225
| 214,251
|
|
|
|
|
|
| 9,665,559
|
| Semiconductors 0.9%
|
Microchip Technology, Inc.,
Gtd. Notes(aa)
| 4.250
| 09/01/25
|
| 3,630
| 3,500,082
|
| Software 2.7%
|
Black Knight InfoServ LLC,
Gtd. Notes, 144A
| 3.625
| 09/01/28
|
| 880
| 784,854
|
Boxer Parent Co., Inc.,
Sr. Sec’d. Notes, 144A(aa)
| 7.125
| 10/02/25
|
| 2,000
| 1,973,719
|
Camelot Finance SA,
Sr. Sec’d. Notes, 144A(aa)
| 4.500
| 11/01/26
|
| 5,720
| 5,281,350
|
Clarivate Science Holdings Corp.,
Sr. Sec’d. Notes, 144A
| 3.875
| 07/01/28
|
| 500
| 431,039
|
SS&C Technologies, Inc.,
Gtd. Notes, 144A
| 5.500
| 09/30/27
|
| 2,500
| 2,345,060
|
|
|
|
|
|
| 10,816,022
|
| Telecommunications 5.6%
|
Altice France SA (France),
Sr. Sec’d. Notes, 144A
| 8.125
| 02/01/27
|
| 2,270
| 1,912,475
|
Digicel Group Holdings Ltd. (Jamaica),
Sr. Unsec’d. Notes, 144A, Cash coupon 5.000% and PIK 3.000% (original cost $14,540; purchased 03/21/23)(f)
| 8.000
| 04/01/25(d)
|
| 37
| 7,409
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Telecommunications (cont’d.)
|
Digicel International Finance Ltd./Digicel
International Holdings Ltd. (Jamaica),
|
|
|
|
|
|
| Gtd. Notes, 144A (original cost $140,000; purchased 03/09/23)(f)
| 8.000 %
| 12/31/26(d)
|
| 560
| $11,200
|
| Gtd. Notes, 144A, Cash coupon 13.000% (original cost $1,205,742; purchased 10/19/23)(f)
| 13.000
| 12/31/25(d)
|
| 1,721
| 1,188,555
|
| Sr. Sec’d. Notes, 144A (original cost $542,418; purchased 10/19/23)(f)
| 8.750
| 05/25/24
|
| 600
| 549,559
|
| Sr. Sec’d. Notes, 144A (original cost $2,986,769; purchased 10/19/23)(f)
| 8.750
| 05/25/24
|
| 3,160
| 2,894,352
|
|
|
|
|
|
|
Digicel Ltd. (Jamaica),
Gtd. Notes, 144A
| 6.750
| 03/01/23(d)
|
| 1,000
| 25,000
|
Iliad Holding SASU (France),
Sr. Sec’d. Notes, 144A
| 6.500
| 10/15/26
|
| 1,545
| 1,438,781
|
| Level 3 Financing, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 4.625
| 09/15/27
|
| 1,530
| 1,030,435
|
| Sr. Sec’d. Notes, 144A
| 3.400
| 03/01/27
|
| 2,550
| 2,371,525
|
| Sprint LLC,
|
|
|
|
|
|
| Gtd. Notes
| 7.625
| 02/15/25
|
| 2,030
| 2,057,898
|
| Gtd. Notes(aa)
| 7.625
| 03/01/26
|
| 5,150
| 5,289,890
|
| Viasat, Inc.,
|
|
|
|
|
|
| Sr. Sec’d. Notes, 144A
| 5.625
| 04/15/27
|
| 550
| 480,710
|
| Sr. Unsec’d. Notes, 144A(aa)
| 5.625
| 09/15/25
|
| 3,885
| 3,606,633
|
|
|
|
|
|
| 22,864,422
|
| Transportation 0.4%
|
XPO Escrow Sub LLC,
Gtd. Notes, 144A
| 7.500
| 11/15/27
|
| 275
| 274,642
|
| XPO, Inc.,
|
|
|
|
|
|
| Gtd. Notes, 144A
| 7.125
| 06/01/31
|
| 75
| 73,065
|
| Sr. Sec’d. Notes, 144A
| 6.250
| 06/01/28
|
| 1,450
| 1,389,746
|
|
|
|
|
|
| 1,737,453
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Corporate Bonds (Continued)
|
| Trucking & Leasing 0.1%
|
Fortress Transportation & Infrastructure Investors LLC,
Gtd. Notes, 144A
| 5.500 %
| 05/01/28
|
| 450
| $409,906
|
|
|
|
|
|
|
Total Corporate Bonds
(cost $434,960,554)
| 402,330,966
|
| Floating Rate and Other Loans 9.7%
|
| Airlines 0.5%
|
United Airlines, Inc.,
Class B Term Loan, 1 Month SOFR + 3.864%
| 9.189(c)
| 04/21/28
|
| 2,086
| 2,089,829
|
| Chemicals 0.1%
|
Venator Finance Sarl,
Term Loan, 3 Month SOFR + 10.000%
| 15.426(c)
| 10/12/28
|
| 555
| 542,847
|
| Commercial Services 1.0%
|
Cimpress PLC,
Tranche B-1 Term Loan, 1 Month SOFR + 3.614%
| 8.939(c)
| 05/17/28
|
| 978
| 958,764
|
Mavis Tire Express Services TopCo LP,
First Lien Initial Term Loan, 1 Month SOFR + 4.114%
| 9.439(c)
| 05/04/28
|
| 1,300
| 1,279,510
|
Trans Union LLC,
2021 Incremental Term B-6 Loan, 1 Month SOFR + 2.364%
| 7.689(c)
| 12/01/28
|
| 805
| 803,772
|
Verscend Holding Corp.,
New Term Loan B, 1 Month SOFR + 4.114%
| 9.439(c)
| 08/27/25
|
| 977
| 975,736
|
|
|
|
|
|
| 4,017,782
|
| Computers 0.8%
|
McAfee Corp.,
Tranche B-1 Term Loan, 1 Month SOFR + 3.850%
| 9.165(c)
| 03/01/29
|
| 2,059
| 1,959,824
|
NCR Atleos, LLC,
Term B Loan, 1 Month SOFR + 4.850%
| 10.176(c)
| 03/27/29
|
| 1,275
| 1,216,563
|
|
|
|
|
|
| 3,176,387
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Floating Rate and Other Loans (Continued)
|
| Electric 0.1%
|
Heritage Power LLC,
Term Loan B, 3 Month LIBOR + 6.000%
| 12.500 %(c)
| 07/30/26(d)
|
| 2,534
| $507,539
|
| Entertainment 0.4%
|
Golden Entertainment, Inc.,
Term B1 Facility Term Loan, 1 Month SOFR + 2.850%
| 8.176(c)
| 05/28/30
|
| 1,551
| 1,545,995
|
| Healthcare-Products 0.4%
|
Mozart Borrower LP,
Initial Dollar Term Loan, 1 Month SOFR + 3.364%
| 8.689(c)
| 10/23/28
|
| 1,784
| 1,770,704
|
| Insurance 0.4%
|
| Acrisure LLC,
|
|
|
|
|
|
| 2021-1 Additional Term Loan, 1 Month LIBOR + 3.750%
| 9.189(c)
| 02/15/27
|
| 348
| 341,259
|
| Term Loan B 2020, 1 Month LIBOR + 3.500%
| 8.939(c)
| 02/15/27
|
| 398
| 386,782
|
|
|
|
|
|
|
Asurion LLC,
New B-9 Term Loan, 1 Month SOFR + 3.364%
| 8.689(c)
| 07/31/27
|
| 999
| 952,529
|
|
|
|
|
|
| 1,680,570
|
| Media 0.5%
|
CSC Holdings LLC,
2022 Refinancing Term Loan, 1 Month SOFR + 4.500%
| 9.835(c)
| 01/18/28
|
| 1,722
| 1,605,059
|
Univision Communications, Inc.,
2021 Replacement Term Loan, 1 Month SOFR + 3.364%
| 8.689(c)
| 03/15/26
|
| 398
| 394,544
|
|
|
|
|
|
| 1,999,603
|
| Mining 0.5%
|
Rain Carbon GmbH (Germany),
2023 Replacement Term Loan, 3 Month EURIBOR + 5.000%
| 8.787(c)
| 10/31/28
| EUR
| 2,000
| 2,089,748
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Floating Rate and Other Loans (Continued)
|
| Packaging & Containers 0.8%
|
| Trident TPI Holdings, Inc.,
|
|
|
|
|
|
| First Lien Tranche B-3 Initial Term Loan, 3 Month SOFR + 4.262%
| 9.652 %(c)
| 09/15/28
|
| 441
| $435,122
|
| Tranche B-5 Initial Term Loan, 3 Month SOFR + 4.500%
| 9.890(c)
| 09/15/28
|
| 2,840
| 2,825,422
|
|
|
|
|
|
| 3,260,544
|
| Retail 0.7%
|
Great Outdoors Group LLC,
Term B-2 Loan, 3 Month SOFR + 4.012%
| 9.402(c)
| 03/06/28
|
| 814
| 806,143
|
LBM Acquisition LLC,
First Lien Initial Term Loan, 1 Month SOFR + 3.850%
| 9.174(c)
| 12/17/27
|
| 998
| 947,415
|
White Cap Buyer LLC,
Initial Closing Date Term Loan, 1 Month SOFR + 3.750%
| 9.074(c)
| 10/19/27
|
| 882
| 874,720
|
|
|
|
|
|
| 2,628,278
|
| Software 2.7%
|
athenahealth, Inc.,
Initial Term Loan, 1 Month SOFR + 3.250%
| 8.577(c)
| 02/15/29
|
| 1,629
| 1,572,140
|
| Boxer Parent Co., Inc.,
|
|
|
|
|
|
| 2021 Replacement Dollar Term Loan, 1 Month SOFR + 3.864%
| 9.189(c)
| 10/02/25
|
| 4,308
| 4,301,196
|
| Second Lien Incremental Term Loan, 1 Month SOFR + 5.614%
| 10.939(c)
| 02/27/26
|
| 150
| 148,687
|
|
|
|
|
|
|
Dun & Bradstreet Corp.,
Term Loan B, 1 Month SOFR + 2.850%
| 8.176(c)
| 02/06/26
|
| 3,683
| 3,677,251
|
Skillsoft Finance II, Inc.,
Initial Term Loan, 1 Month SOFR + 5.364%
| 10.699(c)
| 07/14/28
|
| 1,220
| 1,107,706
|
|
|
|
|
|
| 10,806,980
|
| Telecommunications 0.8%
|
Digicel International Finance Ltd. (Jamaica),
First Lien Initial Term B Loan, 6 Month LIBOR + 3.250%
| 8.981(c)
| 05/27/24
|
| 60
| 54,416
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
| Interest
Rate
| Maturity
Date
| Principal
Amount
(000)#
| Value
|
| Floating Rate and Other Loans (Continued)
|
| Telecommunications (cont’d.)
|
Intrado Corp.,
Initial Term Loan, 3 Month SOFR + 4.000%
| 9.389 %(c)
| 01/31/30
|
| 364
| $363,177
|
| MLN US HoldCo LLC,
|
|
|
|
|
|
| 3L Term B Loans, 3 Month SOFR + 9.350%^
| 14.745(c)
| 10/18/27
|
| 4
| 320
|
| Initial Term Loan, 3 Month SOFR + 6.440%
| 11.935(c)
| 10/18/27
|
| 21
| 14,401
|
| Initial Term Loan (Second Out (First Lien Roll-Up)), 3 Month SOFR + 6.800%
| 12.195(c)
| 10/18/27
|
| 48
| 12,326
|
|
|
|
|
|
|
Viasat, Inc.,
Initial Term Loan, 1 Month SOFR + 4.500%
| 9.824(c)
| 03/02/29
|
| 1,287
| 1,179,821
|
Xplornet Communications, Inc. (Canada),
First Lien Refinancing Term Loan, 3 Month SOFR + 4.262%
| 9.652(c)
| 10/02/28
|
| 2,509
| 1,670,143
|
|
|
|
|
|
| 3,294,604
|
|
|
|
|
|
|
Total Floating Rate and Other Loans
(cost $42,447,343)
| 39,411,410
|
|
|
|
| Shares
|
|
| Common Stocks 0.4%
|
| Chemicals
|
| TPC Group, Inc. (original cost $53,386; purchased 12/15/22)*^(f)
|
|
|
| 4,927
| 108,394
|
| Venator Materials PLC*
|
|
|
| 367,437,522
| 1,467,913
|
|
|
|
|
|
|
Total Common Stocks
(cost $5,165,240)
| 1,576,307
|
|
|
Total Long-Term Investments
(cost $514,977,769)
| 475,949,168
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| Description
|
|
| Shares
| Value
|
| Short-Term Investment 10.3%
|
| Affiliated Mutual Fund
|
|
|
|
|
|
PGIM Core Government Money Market Fund
(cost $41,642,090)(wb)
|
|
| 41,642,090
| $41,642,090
|
|
|
TOTAL INVESTMENTS 127.3%
(cost $556,619,859)
| 517,591,258
|
| Liabilities in excess of other assets(z) (27.3)%
| (110,935,724)
|
|
|
| Net Assets 100.0%
| $406,655,534
|
| 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.
|
| BNP
| BNP Paribas S.A.
|
| BNYM
| Bank of New York Mellon
|
| CDX
| Credit Derivative Index
|
| CLO
| Collateralized Loan Obligation
|
| DAC
| Designated Activity Company
|
| EURIBOR
| Euro Interbank Offered Rate
|
| HSBC
| HSBC Bank PLC
|
| iBoxx
| Bond Market Indices
|
| LIBOR
| London Interbank Offered Rate
|
| LP
| Limited Partnership
|
| MTN
| Medium Term Note
|
| OTC
| Over-the-counter
|
| PIK
| Payment-in-Kind
|
| Q
| Quarterly payment frequency for swaps
|
| REITs
| Real Estate Investment Trust
|
| SOFR
| Secured Overnight Financing Rate
|
| T
| Swap payment upon termination
|
| *
| Non-income producing security.
|
| #
| Principal or notional amount is shown in U.S. dollars unless otherwise stated.
|
| ^
| Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $1,828,089 and 0.5% of net assets.
|
| (aa)
| Represents security, or a portion thereof, with aggregate value of $167,576,645 segregated as collateral for amount of $125,000,000 borrowed and outstanding as of October 31, 2023.
|
| (c)
| Variable rate instrument. The interest rate shown reflects the rate in effect at October 31, 2023.
|
| (d)
| Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.
|
| (f)
| Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to
disposition under federal securities law; the aggregate original cost of such securities is $5,756,178. The aggregate value of $5,536,600 is 1.4% of net assets.
|
| (oo)
| Perpetual security. Maturity date represents next call date.
|
| (wb)
| Represents an investment in a Fund affiliated with the Manager.
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
| (z)
| Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
|
| Futures contracts outstanding at October 31, 2023:
|
Number
of
Contracts
|
| Type
|
| Expiration
Date
|
| Current
Notional
Amount
|
| Value /
Unrealized
Appreciation
(Depreciation)
|
| Long Positions:
|
| 28
|
| 2 Year U.S. Treasury Notes
|
| Dec. 2023
|
| $5,667,813
|
| $(26,722)
|
| 777
|
| 5 Year U.S. Treasury Notes
|
| Dec. 2023
|
| 81,178,287
|
| (1,499,616)
|
| 5
|
| 20 Year U.S. Treasury Bonds
|
| Dec. 2023
|
| 547,188
|
| (52,499)
|
| 5
|
| 30 Year U.S. Ultra Treasury Bonds
|
| Dec. 2023
|
| 562,813
|
| (73,538)
|
|
|
|
|
|
|
|
|
| (1,652,375)
|
| Short Position:
|
| 158
|
| 10 Year U.S. Treasury Notes
|
| Dec. 2023
|
| 16,775,157
|
| 468,375
|
|
|
|
|
|
|
|
|
| $(1,184,000)
|
Forward foreign currency exchange
contracts outstanding at October 31, 2023:
Purchase
Contracts
|
| Counterparty
|
| Notional
Amount
(000)
|
| Value at
Settlement
Date
|
| Current
Value
|
| Unrealized
Appreciation
|
| Unrealized
Depreciation
|
| OTC Forward Foreign Currency Exchange Contracts:
|
| Euro,
|
| Expiring 11/02/23
|
| BNYM
|
| EUR
| 3,245
|
| $3,431,149
|
| $3,433,691
|
| $2,542
|
| $—
|
Sale
Contracts
|
| Counterparty
|
| Notional
Amount
(000)
|
| Value at
Settlement
Date
|
| Current
Value
|
| Unrealized
Appreciation
|
| Unrealized
Depreciation
|
| OTC Forward Foreign Currency Exchange Contracts:
|
| Euro,
|
| Expiring 11/02/23
|
| BNP
|
| EUR
| 3,245
|
| $3,438,271
|
| $3,433,691
|
| $4,580
|
| $—
|
| Expiring 12/04/23
|
| BNYM
|
| EUR
| 3,245
|
| 3,435,565
|
| 3,438,578
|
| —
|
| (3,013)
|
| Expiring 12/04/23
|
| HSBC
|
| EUR
| 387
|
| 409,125
|
| 409,646
|
| —
|
| (521)
|
|
|
|
|
|
|
|
| $7,282,961
|
| $7,281,915
|
| 4,580
|
| (3,534)
|
|
|
|
|
|
|
|
|
|
|
|
| $7,122
|
| $(3,534)
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Credit default swap agreements
outstanding at October 31, 2023:
Reference
Entity/
Obligation
| Termination
Date
|
| Fixed
Rate
|
| Notional
Amount
(000)#(3)
|
| Value at
Trade Date
|
| Value at
October 31,
2023
|
| Unrealized
Appreciation
(Depreciation)
|
| Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):
|
| CDX.NA.IG.41.V1
| 12/20/28
|
| 1.000%(Q)
|
|
| 17,600
|
| $(248,168)
|
| $(182,244)
|
| $65,924
|
Reference
Entity/
Obligation
| Termination
Date
|
| Fixed
Rate
|
| Notional
Amount
(000)#(3)
|
| Implied Credit
Spread at
October 31,
2023(4)
|
| Value at
Trade Date
|
| Value at
October 31,
2023
|
| Unrealized
Appreciation
(Depreciation)
|
| Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):
|
| CDX.NA.HY.41.V1
| 12/20/28
|
| 5.000%(Q)
|
|
| 53,500
|
| 5.161%
|
| $420,738
|
| $(19,408)
|
| $(440,146)
|
The Fund entered into credit
default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference
entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as
the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
| (1)
| If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller
of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the
form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
|
| (2)
| If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of
protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of
cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
|
| (3)
| Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined
under the terms of that particular swap agreement.
|
| (4)
| Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the
reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular
referenced entity reflects the cost of buying/selling protection and may include up-front
|
PGIM Short Duration High Yield Opportunities Fund
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
|
| payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or
other credit event occurring as defined under the terms of the agreement.
|
| Total return swap agreements outstanding at October 31, 2023:
|
| Reference Entity
|
| Financing
Rate
|
| Counterparty
|
| Termination
Date
|
| Long (Short)
Notional
Amount
(000)#(1)
|
| Fair
Value
|
| Upfront
Premiums
Paid
(Received)
|
| Unrealized
Appreciation
(Depreciation)(2)
|
| OTC Total Return Swap Agreements:
|
| iBoxx US Dollar Investment Grade Index(T)
|
| 1 Day SOFR(Q)/ 5.350%
|
| BNP
|
| 12/20/23
|
| (3,259)
|
| $261,264
|
| $—
|
| $261,264
|
| iBoxx US Dollar Liquid High Yield Index(T)
|
| 1 Day SOFR(Q)/ 5.350%
|
| BNP
|
| 03/20/24
|
| 10,200
|
| (269,337)
|
| —
|
| (269,337)
|
|
|
|
|
|
|
|
|
|
|
| $(8,073)
|
| $—
|
| $(8,073)
|
| (1)
| On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return
swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate.
|
| (2)
| Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).
|
Other
information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
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