Description | Shares | Value | |||
Long-Term Investments 99.7% | |||||
Affiliated Mutual Funds 58.6% | |||||
PGIM Core Conservative Bond Fund (Class R6) | 2,473,675 | $21,768,342 | |||
PGIM Emerging Markets Debt Hard Currency (Class R6) | 6,439,215 | 44,559,367 | |||
PGIM Jennison MLP Fund (Class R6) | 4,347,283 | 30,996,126 | |||
PGIM Quant Solutions Emerging Markets Equity Fund (Class R6) | 263,649 | 2,863,223 | |||
PGIM Quant Solutions International Equity Fund (Class R6) | 5,155,071 | 34,178,122 | |||
PGIM Real Estate Income Fund (Class R6) | 2,677,514 | 18,983,573 | |||
Total Affiliated Mutual Funds (cost $160,256,371)(wd) | 153,348,753 | ||||
Common Stocks 12.9% | |||||
Aerospace & Defense 0.5% | |||||
Raytheon Technologies Corp. | 13,050 | 1,303,042 | |||
Banks 0.4% | |||||
JPMorgan Chase & Co. | 4,496 | 629,260 | |||
Truist Financial Corp. | 8,625 | 425,989 | |||
1,055,249 | |||||
Beverages 0.4% | |||||
Coca-Cola Co. (The) | 7,246 | 444,324 | |||
PepsiCo, Inc. | 3,388 | 579,416 | |||
1,023,740 | |||||
Biotechnology 1.0% | |||||
AbbVie, Inc. | 10,439 | 1,542,362 | |||
Amgen, Inc. | 4,270 | 1,077,748 | |||
2,620,110 | |||||
Chemicals 0.2% | |||||
DuPont de Nemours, Inc. | 7,231 | 534,732 | |||
Commercial Services & Supplies 0.1% | |||||
Waste Management, Inc. | 2,296 | 355,260 | |||
Communications Equipment 0.1% | |||||
Cisco Systems, Inc. | 5,543 | 269,778 | |||
Consumer Finance 0.2% | |||||
American Express Co. | 2,760 | 482,807 |
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Diversified Telecommunication Services 0.7% | |||||
AT&T, Inc. | 49,151 | $1,001,206 | |||
BCE, Inc. (Canada) | 18,012 | 851,967 | |||
1,853,173 | |||||
Electric Utilities 0.5% | |||||
Entergy Corp. | 1,724 | 186,675 | |||
FirstEnergy Corp. | 9,925 | 406,429 | |||
PNM Resources, Inc. | 12,271 | 607,169 | |||
1,200,273 | |||||
Entertainment 0.3% | |||||
Electronic Arts, Inc. | 7,030 | 904,620 | |||
Equity Real Estate Investment Trusts (REITs) 0.5% | |||||
American Tower Corp. | 880 | 196,583 | |||
Prologis, Inc. | 8,929 | 1,154,341 | |||
1,350,924 | |||||
Food & Staples Retailing 0.5% | |||||
Walmart, Inc. | 9,233 | 1,328,352 | |||
Food Products 1.2% | |||||
General Mills, Inc.(a) | 15,573 | 1,220,300 | |||
J.M. Smucker Co. (The) | 7,593 | 1,160,210 | |||
Kraft Heinz Co. (The) | 19,724 | 799,414 | |||
3,179,924 | |||||
Hotels, Restaurants & Leisure 0.3% | |||||
McDonald’s Corp. | 3,057 | 817,442 | |||
Household Products 0.2% | |||||
Procter & Gamble Co. (The) | 2,742 | 390,406 | |||
Independent Power & Renewable Electricity Producers 0.1% | |||||
RWE AG (Germany) | 4,833 | 215,160 | |||
Insurance 0.3% | |||||
MetLife, Inc. | 12,309 | 898,803 |
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
IT Services 0.3% | |||||
International Business Machines Corp.(a) | 5,486 | $739,129 | |||
Life Sciences Tools & Services 0.2% | |||||
Danaher Corp. | 2,186 | 577,935 | |||
Machinery 0.6% | |||||
Caterpillar, Inc. | 2,225 | 561,345 | |||
Deere & Co. | 1,804 | 762,803 | |||
Timken Co. (The) | 3,087 | 254,215 | |||
1,578,363 | |||||
Metals & Mining 0.2% | |||||
Newmont Corp. | 10,416 | 551,319 | |||
Mortgage Real Estate Investment Trusts (REITs) 0.3% | |||||
Starwood Property Trust, Inc. | 39,522 | 825,615 | |||
Multi-Utilities 0.2% | |||||
Ameren Corp. | 4,503 | 391,176 | |||
Oil, Gas & Consumable Fuels 1.3% | |||||
Arch Resources, Inc.(a) | 4,854 | 718,489 | |||
BP PLC (United Kingdom), ADR | 4,320 | 156,514 | |||
Exxon Mobil Corp. | 12,272 | 1,423,675 | |||
Phillips 66 | 3,526 | 353,552 | |||
Williams Cos., Inc. (The) | 23,547 | 759,155 | |||
3,411,385 | |||||
Pharmaceuticals 1.2% | |||||
AstraZeneca PLC (United Kingdom), ADR | 22,263 | 1,455,332 | |||
Bristol-Myers Squibb Co. | 14,634 | 1,063,160 | |||
Eli Lilly & Co. | 1,752 | 602,951 | |||
3,121,443 | |||||
Road & Rail 0.3% | |||||
Canadian National Railway Co. (Canada) | 3,567 | 424,794 | |||
Union Pacific Corp. | 1,821 | 371,830 | |||
796,624 |
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Software 0.1% | |||||
Microsoft Corp. | 1,038 | $257,227 | |||
Specialty Retail 0.5% | |||||
Foot Locker, Inc. | 8,753 | 380,843 | |||
O’Reilly Automotive, Inc.* | 1,002 | 793,935 | |||
1,174,778 | |||||
Technology Hardware, Storage & Peripherals 0.2% | |||||
Apple, Inc. | 2,978 | 429,696 | |||
Western Digital Corp.* | 3,419 | 150,265 | |||
579,961 | |||||
Total Common Stocks (cost $27,216,860) | 33,788,750 | ||||
Exchange-Traded Funds 27.2% | |||||
Energy Select Sector SPDR Fund | 55,100 | 4,955,143 | |||
Invesco Preferred ETF(a) | 641,588 | 8,116,088 | |||
iShares 0-5 Year High Yield Corporate Bond ETF | 42,000 | 1,764,420 | |||
iShares iBoxx High Yield Corporate Bond ETF(a) | 42,000 | 3,205,860 | |||
iShares Latin America 40 ETF(a) | 50,200 | 1,279,096 | |||
PGIM Active Aggregate Bond ETF(a)(g) | 475,000 | 20,405,573 | |||
PGIM Active High Yield Bond ETF(g) | 906,600 | 31,449,954 | |||
Total Exchange-Traded Funds (cost $76,765,778) | 71,176,134 | ||||
Preferred Stocks 1.0% | |||||
Auto Components 0.3% | |||||
Aptiv PLC, Series A, CVT, 5.500%, Maturing 06/15/23 | 4,719 | 594,547 | |||
Electric Utilities 0.3% | |||||
NextEra Energy, Inc., CVT, 6.926%, Maturing 09/01/25 | 16,000 | 767,200 |
Description | Shares | Value | |||
Preferred Stocks (Continued) | |||||
Health Care Equipment & Supplies 0.4% | |||||
Boston Scientific Corp., Series A, CVT, 5.500%, Maturing 06/01/23 | 9,616 | $1,097,474 | |||
Total Preferred Stocks (cost $2,213,500) | 2,459,221 | ||||
Total Long-Term Investments (cost $266,452,509) | 260,772,858 | ||||
Short-Term Investments 6.3% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Ultra Short Bond Fund | 1,706,001 | 1,706,001 | |||
PGIM Institutional Money Market Fund (cost $14,707,872; includes $14,664,213 of cash collateral for securities on loan)(b) | 14,718,777 | 14,715,834 | |||
Total Short-Term Investments (cost $16,413,873)(wd) | 16,421,835 | ||||
TOTAL INVESTMENTS 106.0% (cost $282,866,382) | 277,194,693 | ||||
Liabilities in excess of other assets (6.0)% | (15,580,768) | ||||
Net Assets 100.0% | $261,613,925 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
ADR—American Depositary Receipt | |
CVT—Convertible Security | |
ETF—Exchange-Traded Fund | |
iBoxx—Bond Market Indices | |
MLP—Master Limited Partnership | |
REITs—Real Estate Investment Trust | |
SPDR—Standard & Poor’s Depositary Receipts |
* | Non-income producing security. |
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $14,458,819; cash collateral of $14,664,213 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Fund may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day. |
(b) | Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
(g) | An affiliated security. |
(wd) | PGIM Investments LLC, the manager of the Fund, also serves as the manager of the underlying funds in which the Fund invests. |