NPORT-EX 2 PIPDK01PRU093023.htm
PGIM Income Builder Fund
Schedule of Investments as of July 31, 2023 (unaudited)
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
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PGIM Income Builder Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
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
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PGIM Income Builder Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
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
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PGIM Income Builder Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
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
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PGIM Income Builder Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
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
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PGIM Income Builder Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
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.
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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