Description | Shares | Value | |||
Long-Term Investments 98.6% | |||||
Affiliated Exchange-Traded Funds 20.9% | |||||
PGIM Active Aggregate Bond ETF | 487,500 | $20,355,026 | |||
PGIM Active High Yield Bond ETF | 906,600 | 31,259,568 | |||
Total Affiliated Exchange-Traded Funds (cost $59,365,103)(wd) | 51,614,594 | ||||
Affiliated Mutual Funds — 58.2% | |||||
Domestic Equity — 17.2% | |||||
PGIM Jennison MLP Fund (Class R6) | 3,198,734 | 23,094,862 | |||
PGIM Real Estate Income Fund (Class R6) | 2,939,935 | 19,609,368 | |||
42,704,230 | |||||
Fixed Income — 27.1% | |||||
PGIM Core Conservative Bond Fund (Class R6) | 1,906,246 | 16,298,401 | |||
PGIM Emerging Markets Debt Hard Currency (Class R6) | 7,358,185 | 50,697,891 | |||
66,996,292 | |||||
International Equity — 13.9% | |||||
PGIM Quant Solutions Emerging Markets Equity Fund (Class R6) | 191,606 | 2,170,899 | |||
PGIM Quant Solutions International Equity Fund (Class R6) | 4,532,887 | 32,138,168 | |||
34,309,067 | |||||
Total Affiliated Mutual Funds (cost $148,941,849)(wd) | 144,009,589 | ||||
Common Stocks 13.3% | |||||
Aerospace & Defense 0.5% | |||||
RTX Corp. | 4,020 | 353,478 | |||
Safran SA (France) | 4,787 | 794,705 | |||
1,148,183 | |||||
Automobile Components 0.2% | |||||
Aptiv PLC* | 5,074 | 555,552 | |||
Banks 0.4% | |||||
JPMorgan Chase & Co. | 4,129 | 652,217 | |||
Truist Financial Corp. | 7,920 | 263,102 | |||
915,319 |
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Beverages 0.4% | |||||
Coca-Cola Co. (The) | 6,654 | $412,082 | |||
PepsiCo, Inc. | 3,111 | 583,188 | |||
995,270 | |||||
Biotechnology 0.9% | |||||
AbbVie, Inc. | 9,586 | 1,433,874 | |||
Amgen, Inc. | 3,921 | 918,102 | |||
2,351,976 | |||||
Chemicals 0.3% | |||||
PPG Industries, Inc. | 5,911 | 850,593 | |||
Commercial Services & Supplies 0.1% | |||||
Waste Management, Inc. | 2,108 | 345,269 | |||
Communications Equipment 0.1% | |||||
Cisco Systems, Inc. | 6,850 | 356,474 | |||
Consumer Finance 0.2% | |||||
American Express Co. | 2,239 | 378,122 | |||
Consumer Staples Distribution & Retail 0.5% | |||||
Walmart, Inc. | 8,478 | 1,355,293 | |||
Diversified Telecommunication Services 0.6% | |||||
AT&T, Inc. | 45,133 | 655,331 | |||
BCE, Inc. (Canada) | 16,540 | 714,859 | |||
1,370,190 | |||||
Electric Utilities 0.2% | |||||
FirstEnergy Corp. | 4,252 | 167,486 | |||
PNM Resources, Inc. | 6,094 | 273,133 | |||
440,619 | |||||
Entertainment 0.4% | |||||
Electronic Arts, Inc. | 6,455 | 880,139 | |||
Financial Services 0.1% | |||||
Visa, Inc. (Class A Stock) | 866 | 205,874 |
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Food Products 1.1% | |||||
General Mills, Inc. | 13,349 | $997,704 | |||
J.M. Smucker Co. (The) | 6,504 | 979,828 | |||
Kraft Heinz Co. (The) | 18,112 | 655,292 | |||
2,632,824 | |||||
Ground Transportation 0.3% | |||||
Canadian National Railway Co. (Canada) | 3,276 | 397,150 | |||
Union Pacific Corp. | 1,672 | 387,937 | |||
785,087 | |||||
Health Care Equipment & Supplies 0.5% | |||||
Boston Scientific Corp.* | 22,918 | 1,188,298 | |||
Hotels, Restaurants & Leisure 0.3% | |||||
McDonald’s Corp. | 2,807 | 823,013 | |||
Household Products 0.2% | |||||
Procter & Gamble Co. (The) | 2,518 | 393,564 | |||
Independent Power & Renewable Electricity Producers 0.2% | |||||
RWE AG (Germany) | 4,438 | 191,006 | |||
Vistra Corp. | 9,747 | 273,501 | |||
464,507 | |||||
Industrial REITs 0.4% | |||||
Prologis, Inc. | 8,199 | 1,022,825 | |||
Insurance 0.3% | |||||
MetLife, Inc. | 12,762 | 803,623 | |||
IT Services 0.2% | |||||
International Business Machines Corp. | 2,597 | 374,436 | |||
Life Sciences Tools & Services 0.2% | |||||
Danaher Corp. | 1,480 | 377,489 | |||
Machinery 0.4% | |||||
Caterpillar, Inc. | 1,325 | 351,350 |
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Machinery (cont’d.) | |||||
Deere & Co. | 442 | $189,883 | |||
Timken Co. (The) | 4,404 | 408,956 | |||
950,189 | |||||
Metals & Mining 0.2% | |||||
Arch Resources, Inc. | 3,017 | 387,503 | |||
Newmont Corp. | 4,065 | 174,470 | |||
561,973 | |||||
Mortgage Real Estate Investment Trusts (REITs) 0.1% | |||||
Starwood Property Trust, Inc. | 16,312 | 338,311 | |||
Multi-Utilities 0.1% | |||||
Ameren Corp. | 3,787 | 324,432 | |||
Oil, Gas & Consumable Fuels 0.4% | |||||
BP PLC (United Kingdom), ADR | 5,206 | 194,184 | |||
Exxon Mobil Corp. | 5,009 | 537,165 | |||
Phillips 66 | 2,408 | 268,613 | |||
999,962 | |||||
Pharmaceuticals 1.2% | |||||
AstraZeneca PLC (United Kingdom), ADR | 20,443 | 1,465,763 | |||
Bristol-Myers Squibb Co. | 13,438 | 835,709 | |||
Eli Lilly & Co. | 1,609 | 731,371 | |||
3,032,843 | |||||
Semiconductors & Semiconductor Equipment 1.1% | |||||
Applied Materials, Inc. | 5,990 | 908,024 | |||
Broadcom, Inc. | 808 | 726,109 | |||
Lam Research Corp. | 1,668 | 1,198,442 | |||
2,832,575 | |||||
Software 0.2% | |||||
Microsoft Corp. | 1,213 | 407,471 | |||
Specialized REITs 0.0% | |||||
American Tower Corp. | 516 | 98,200 |
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Specialty Retail 0.5% | |||||
Foot Locker, Inc. | 13,029 | $350,089 | |||
O’Reilly Automotive, Inc.* | 920 | 851,727 | |||
1,201,816 | |||||
Technology Hardware, Storage & Peripherals 0.5% | |||||
Apple, Inc. | 5,864 | 1,151,983 | |||
Total Common Stocks (cost $26,774,672) | 32,914,294 | ||||
Preferred Stock 0.3% | |||||
Electric Utilities | |||||
NextEra Energy, Inc., CVT, 6.926%, Maturing 09/01/25 (cost $780,000) | 16,000 | 731,680 | |||
Unaffiliated Exchange-Traded Funds 5.9% | |||||
Invesco Preferred ETF | 166,588 | 1,902,435 | |||
iShares 0-5 Year High Yield Corporate Bond ETF | 30,000 | 1,250,400 | |||
iShares iBoxx High Yield Corporate Bond ETF(a) | 95,500 | 7,210,250 | |||
SPDR Bloomberg Barclays Convertible Securities ETF | 61,000 | 4,385,900 | |||
Total Unaffiliated Exchange-Traded Funds (cost $14,789,685) | 14,748,985 | ||||
Total Long-Term Investments (cost $250,651,309) | 244,019,142 | ||||
Short-Term Investments 4.5% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Ultra Short Bond Fund | 3,753,897 | 3,753,897 | |||
PGIM Institutional Money Market Fund (cost $7,337,689; includes $7,306,667 of cash collateral for securities on loan)(b) | 7,342,822 | 7,338,417 | |||
Total Short-Term Investments (cost $11,091,586)(wd) | 11,092,314 | ||||
TOTAL INVESTMENTS 103.1% (cost $261,742,895) | 255,111,456 | ||||
Liabilities in excess of other assets (3.1)% | (7,781,708) | ||||
Net Assets 100.0% | $247,329,748 |
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 $7,172,500; cash collateral of $7,306,667 (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. |
(wd) | PGIM Investments LLC, the manager of the Fund, also serves as the manager of the underlying funds in which the Fund invests. |