0001752724-24-067329.txt : 20240326 0001752724-24-067329.hdr.sgml : 20240326 20240326115051 ACCESSION NUMBER: 0001752724-24-067329 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240131 FILED AS OF DATE: 20240326 DATE AS OF CHANGE: 20240326 PERIOD START: 20241031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 16 CENTRAL INDEX KEY: 0001067442 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-08915 FILM NUMBER: 24782101 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 6TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: (973) 802-5032 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 6TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: TARGET ASSET ALLOCATION FUNDS DATE OF NAME CHANGE: 20061003 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS ASSET ALLOCATION FUNDS DATE OF NAME CHANGE: 20010906 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL DIVERSIFIED FUNDS DATE OF NAME CHANGE: 19980930 0001067442 S000004703 PGIM INCOME BUILDER FUND C000012792 Class R PCLRX C000012793 Class A PCGAX C000012795 Class C PCCFX C000012796 Class Z PDCZX C000176454 Class R6 PCGQX NPORT-P 1 primary_doc.xml NPORT-P false 0001067442 XXXXXXXX S000004703 C000012793 C000012795 C000012792 C000012796 C000176454 Prudential Investment Portfolios 16 811-08915 0001067442 549300SISFD2E4MXHE73 655 Broad Street Newark 07102-4077 1-800-225-1852 PGIM Income Builder Fund S000004703 XYZMTQ00ME3ISOV4JP63 2024-10-31 2024-01-31 N 240172980.46 3188045.24 236984935.22 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N Bristol-Myers Squibb Co HLYYNH7UQUORYSJQCN42 Bristol-Myers Squibb Co 110122108 3280.00000000 NS USD 160293.60000000 0.067638729799 Long EC CORP US N 1 N N N AT&T Inc 549300Z40J86GGSTL398 AT&T Inc 00206R102 43637.00000000 NS USD 771938.53000000 0.325733164972 Long EC CORP US N 1 N N N Canadian National Railway Co 3SU7BEP7TH9YEQOZCS77 Canadian National Railway Co 136375102 3167.00000000 NS USD 392834.68000000 0.165763566209 Long EC CORP CA N 1 N N N Prologis Inc 529900DFH19P073LZ636 Prologis Inc 74340W103 7926.00000000 NS USD 1004144.94000000 0.423716781434 Long EC CORP US N 1 N N N McDonald's Corp UE2136O97NLB5BYP9H04 McDonald's Corp 580135101 2714.00000000 NS USD 794442.08000000 0.335228937342 Long EC CORP US N 1 N N N Amgen Inc 62QBXGPJ34PQ72Z12S66 Amgen Inc 031162100 4407.00000000 NS USD 1384943.82000000 0.584401628193 Long EC CORP US N 1 N N N Boston Scientific Corp Y6ZDD9FP4P8JSSJMW954 Boston Scientific Corp 101137107 22158.00000000 NS USD 1401715.08000000 0.591478559047 Long EC CORP US N 1 N N N Xcel Energy Inc LGJNMI9GH8XIDG5RCM61 Xcel Energy Inc 98389B100 1884.00000000 NS USD 112795.08000000 0.047595886166 Long EC CORP US N 1 N N N Shell PLC 21380068P1DRHMJ8KU70 Shell PLC 780259305 5496.00000000 NS USD 345753.36000000 0.145896767521 Long EC CORP GB N 1 N N N BCE Inc 5493001I9203PRB5KR45 BCE Inc 05534B760 15992.00000000 NS USD 645277.20000000 0.272286168486 Long EC CORP CA N 1 N N N Kraft Heinz Co/The 9845007488EC87F5AF14 Kraft Heinz Co/The 500754106 13292.00000000 NS USD 493531.96000000 0.208254570925 Long EC CORP US N 1 N N N IBM VGRQXHF3J8VDLUA7XE92 International Business Machines Corp 459200101 4721.00000000 NS USD 867058.86000000 0.365870876642 Long EC CORP US N 1 N N N Intel Corp KNX4USFCNGPY45LOCE31 Intel Corp 458140100 18562.00000000 NS USD 799650.96000000 0.337426916718 Long EC CORP US N 1 N N N Phillips 66 5493005JBO5YSIGK1814 Phillips 66 718546104 8208.00000000 NS USD 1184496.48000000 0.499819315054 Long EC CORP US N 1 N N N Vistra Corp 549300KP43CPCUJOOG15 Vistra Corp 92840M102 24000.00000000 NS USD 984720.00000000 0.415520083201 Long EC CORP US N 1 N N N RTX Corp I07WOS4YJ0N7YRFE7309 RTX Corp 75513E101 2567.00000000 NS USD 233905.04000000 0.098700383542 Long EC CORP US N 1 N N N PGIM Quant Solutions Emerging Markets Equity Fund 549300IYN8M51Z504A71 PGIM Quant Solutions Emerging Markets Equity Fund 74440E706 135520.45100000 NS USD 1452779.23000000 0.613025983550 Long EC RF US N 1 N N N Digital Realty Trust Inc 549300HKCZ31D08NEI41 Digital Realty Trust Inc 253868103 2585.00000000 NS USD 363089.10000000 0.153211890731 Long EC CORP US N 1 N N N Truist Financial Corp 549300DRQQI75D2JP341 Truist Financial Corp 89832Q109 23132.00000000 NS USD 857271.92000000 0.361741103587 Long EC CORP US N 1 N N N Broadcom Inc 549300WV6GIDOZJTV909 Broadcom Inc 11135F101 1227.00000000 NS USD 1447860.00000000 0.610950227134 Long EC CORP US N 1 N N N PGIM Jennison MLP Fund 549300YY9XZDGNGBPW42 PGIM Jennison MLP Fund 74440G859 3278129.46100000 NS USD 24094251.54000000 10.16699712056 Long EC RF US N 1 N N N iShares 0-5 Year High Yield Corporate Bond ETF 549300R96U5WQ7R5ID10 iShares 0-5 Year High Yield Corporate Bond ETF 46434V407 57000.00000000 NS USD 2417940.00000000 1.020292702468 Long EC RF US N 1 N N N SPDR Bloomberg Convertible Securities ETF 549300IXKU3G7R6DMX93 SPDR Bloomberg Convertible Securities ETF 78464A359 34500.00000000 NS USD 2454330.00000000 1.035648108906 Long EC RF US N 1 N N N RWE AG 529900GB7KCA94ACC940 RWE AG 000000000 9634.00000000 NS 355741.65000000 0.150111503783 Long EC CORP DE N 2 N N N PGIM Active High Yield Bond ETF 549300F10UK98WW68156 PGIM Active High Yield Bond ETF 69344A206 756600.00000000 NS USD 26331571.50000000 11.11107399107 Long EC RF US N 1 N N N Apple Inc HWUPKR0MPOU8FGXBT394 Apple Inc 037833100 5761.00000000 NS USD 1062328.40000000 0.448268325163 Long EC CORP US N 1 N N N Aptiv PLC N/A Aptiv PLC 000000000 4907.00000000 NS USD 399086.31000000 0.168401552457 Long EC CORP IE N 1 N N N Waste Management Inc 549300YX8JIID70NFS41 Waste Management Inc 94106L109 3228.00000000 NS USD 599213.64000000 0.252848831696 Long EC CORP US N 1 N N N Parker-Hannifin Corp 5493002CONDB4N2HKI23 Parker-Hannifin Corp 701094104 1578.00000000 NS USD 732981.00000000 0.309294343676 Long EC CORP US N 1 N N N Citigroup Inc 6SHGI4ZSSLCXXQSBB395 Citigroup Inc 172967424 13929.00000000 NS USD 782391.93000000 0.330144162654 Long EC CORP US N 1 N N N PPG Industries Inc 549300BKPEP01R3V6C59 PPG Industries Inc 693506107 5715.00000000 NS USD 806043.60000000 0.340124404638 Long EC CORP US N 1 N N N PGIM Active Aggregate Bond ETF 549300KFPDHWRO1PJP18 PGIM Active Aggregate Bond ETF 69344A701 522500.00000000 NS USD 22155306.25000000 9.348824738345 Long EC RF US N 1 N N N Union Pacific Corp 549300LMMRSZZCZ8CL11 Union Pacific Corp 907818108 1617.00000000 NS USD 394434.81000000 0.166438769466 Long EC CORP US N 1 N N N Microsoft Corp INR2EJN1ERAN0W5ZP974 Microsoft Corp 594918104 1528.00000000 NS USD 607502.24000000 0.256346353592 Long EC CORP US N 1 N N N AstraZeneca PLC PY6ZZQWO2IZFZC3IOL08 AstraZeneca PLC 046353108 18121.00000000 NS USD 1207583.44000000 0.509561267630 Long EC CORP GB N 1 N N N Invesco Preferred ETF 549300J11Q08WEERN210 Invesco Preferred ETF 46138E511 313588.00000000 NS USD 3719153.68000000 1.569362911843 Long EC RF US N 1 N N PGIM Institutional Money Market Fund - D N/A PGIM Institutional Money Market Fund - D 000000000 2516100.72400000 NS USD 2515345.89000000 1.061394846750 Long STIV RF US N 1 N N AbbVie Inc FR5LCKFTG8054YNNRU85 AbbVie Inc 00287Y109 9269.00000000 NS USD 1523823.60000000 0.643004416540 Long EC CORP US N 1 N N N Caterpillar Inc WRJR7GS4GTRECRRTVX92 Caterpillar Inc 149123101 1281.00000000 NS USD 384697.11000000 0.162329774102 Long EC CORP US N 1 N N N FirstEnergy Corp 549300SVYJS666PQJH88 FirstEnergy Corp 337932107 4111.00000000 NS USD 150791.48000000 0.063629141599 Long EC CORP US N 1 N N N Visa Inc 549300JZ4OKEHW3DPJ59 Visa Inc 92826C839 2999.00000000 NS USD 819506.74000000 0.345805415538 Long EC CORP US N 1 N N N PGIM Quant Solutions International Equity Fund 2JUUEZVKFN5LVIB9E450 PGIM Quant Solutions International Equity Fund 743969578 4451198.15900000 NS USD 31069363.15000000 13.11026927562 Long EC RF US N 1 N N N PGIM Core Ultra Short Bond Fund 1VRLPVAWKZCB406TIT84 PGIM Core Ultra Short Bond Fund 000000000 1940321.52000000 NS USD 1940321.52000000 0.818753106900 Long STIV RF US N 1 N N N Safran SA 969500UIC89GT3UL7L24 Safran SA 000000000 5689.00000000 NS 1062186.44000000 0.448208422621 Long EC CORP FR N 2 N N N O'Reilly Automotive Inc 549300K2RLMQL149Q332 O'Reilly Automotive Inc 67103H107 890.00000000 NS USD 910514.50000000 0.384207755296 Long EC CORP US N 1 N N N Eli Lilly & Co FRDRIPF3EKNDJ2CQJL29 Eli Lilly & Co 532457108 1555.00000000 NS USD 1003923.55000000 0.423623361994 Long EC CORP US N 1 N N N Lam Research Corp 549300I4GMO6D34U1T02 Lam Research Corp 512807108 1388.00000000 NS USD 1145335.96000000 0.483294838524 Long EC CORP US N 1 N N N Prudential Trust Company Collective Trust-Prudential Core Conservative Bond Fund 549300VQ3ICK16NFQH95 Prudential Trust Company Collective Trust-Prudential Core Conservative Bond Fund 74440E888 2650380.72700000 NS USD 22952297.10000000 9.685129174431 Long EC RF US N 1 N N N Danaher Corp S4BKK9OTCEWQ3YHPFM11 Danaher Corp 235851102 1431.00000000 NS USD 343311.21000000 0.144866258980 Long EC CORP US N 1 N N N Procter & Gamble Co/The 2572IBTT8CCZW6AU4141 Procter & Gamble Co/The 742718109 2435.00000000 NS USD 382635.90000000 0.161460009955 Long EC CORP US N 1 N N N JPMorgan Chase & Co 8I5DZWZKVSZI1NUHU748 JPMorgan Chase & Co 46625H100 3991.00000000 NS USD 695870.76000000 0.293635019185 Long EC CORP US N 1 N N N Coca-Cola Co/The UWJKFUJFZ02DKWI3RY53 Coca-Cola Co/The 191216100 3864.00000000 NS USD 229869.36000000 0.096997456731 Long EC CORP US N 1 N N N NEXTERA ENERGY INC N/A NextEra Energy Inc 65339F713 15911.00000000 NS USD 592048.31000000 0.249825293515 Long EP CORP US N 1 N N N Walmart Inc Y87794H0US1R65VBXU25 Walmart Inc 931142103 5652.00000000 NS USD 933993.00000000 0.394114925125 Long EC CORP US N 1 N N N Starwood Property Trust Inc BUGSFQZERKRBFWIG5267 Starwood Property Trust Inc 85571B105 15771.00000000 NS USD 320624.43000000 0.135293169459 Long EC CORP US N 1 N N N PGIM Real Estate Income Fund 5493003LKC8FFCBL1V58 PGIM Real Estate Income Fund 74441J670 4114453.06300000 NS USD 26949667.56000000 11.37189059506 Long EC RF US N 1 N N N American Express Co R4PP93JZOLY261QX3811 American Express Co 025816109 2165.00000000 NS USD 434602.10000000 0.183388070468 Long EC CORP US N 1 N N N Ameren Corp XRZQ5S7HYJFPHJ78L959 Ameren Corp 023608102 2140.00000000 NS USD 148879.80000000 0.062822474290 Long EC CORP US N 1 N N N PGIM Emerging Markets Debt Har 5493008RPBIYQYY8NR30 PGIM Emerging Markets Debt Har 743969453 5180447.71480200 NS USD 35537871.32000000 14.99583561588 Long EC RF US N 1 N N N Cisco Systems Inc 549300LKFJ962MZ46593 Cisco Systems Inc 17275R102 12558.00000000 NS USD 630160.44000000 0.265907383275 Long EC CORP US N 1 N N N Electronic Arts Inc 549300O7A67PUEYKDL45 Electronic Arts Inc 285512109 6241.00000000 NS USD 858636.78000000 0.362317030490 Long EC CORP US N 1 N N N Arch Resources Inc W47HVZ7Q6FXL86RELH91 Arch Resources Inc 03940R107 2917.00000000 NS USD 516192.32000000 0.217816512058 Long EC CORP US N 1 N N N Applied Materials Inc 41BNNE1AFPNAZELZ6K07 Applied Materials Inc 038222105 5790.00000000 NS USD 951297.00000000 0.401416655078 Long EC CORP US N 1 N N N MetLife Inc C4BXATY60WC6XEOZDX54 MetLife Inc 59156R108 13234.00000000 NS USD 917380.88000000 0.387105146218 Long EC CORP US N 1 N N N 2024-03-25 Prudential Investment Portfolios 16 Christian J. Kelly Christian J. Kelly Chief Financial Officer XXXX NPORT-EX 2 PIPDK01PRU013124.htm
PGIM Income Builder Fund
Schedule of Investments as of January 31, 2024 (unaudited)
Description     Shares   Value
Long-Term Investments 99.0%
Affiliated Exchange-Traded Funds 20.5%          
PGIM Active Aggregate Bond ETF       522,500  $22,155,306
PGIM Active High Yield Bond ETF       756,600 26,331,572
     
 
Total Affiliated Exchange-Traded Funds
(cost $54,781,139)(wa) 		        48,486,878
Affiliated Mutual Funds — 60.0%
Domestic Equity — 21.5%
PGIM Jennison MLP Fund (Class R6) 3,278,129 24,094,251
PGIM Real Estate Income Fund (Class R6) 4,114,453 26,949,668
          51,043,919
Fixed Income — 24.8%
PGIM Core Conservative Bond Fund (Class R6) 2,658,334 23,021,172
PGIM Emerging Markets Debt Hard Currency (Class R6) 5,207,418 35,722,886
          58,744,058
International Equity — 13.7%
PGIM Quant Solutions Emerging Markets Equity Fund (Class R6) 135,520 1,452,779
PGIM Quant Solutions International Equity Fund (Class R6) 4,429,708 30,919,363
          32,372,142
     
 
Total Affiliated Mutual Funds
(cost $140,226,962)(wa) 		142,160,119
Common Stocks 14.7%
Aerospace & Defense 0.5%
RTX Corp.       2,567 233,905
Safran SA (France)       5,689 1,062,186
          1,296,091
Automobile Components 0.2%
Aptiv PLC*       4,907 399,086
Banks 1.0%
Citigroup, Inc.       13,929 782,392
JPMorgan Chase & Co.       3,991 695,871
Truist Financial Corp.       23,132 857,272
          2,335,535
Beverages 0.1%
Coca-Cola Co. (The)       3,864 229,869
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PGIM Income Builder Fund
Schedule of Investments as of January 31, 2024 (unaudited) (continued)
Description     Shares   Value
Common Stocks (Continued)
Biotechnology 1.2%
AbbVie, Inc.       9,269  $1,523,823
Amgen, Inc.       4,407 1,384,944
          2,908,767
Chemicals 0.3%
PPG Industries, Inc.       5,715 806,044
Commercial Services & Supplies 0.3%
Waste Management, Inc.       3,228 599,214
Communications Equipment 0.3%
Cisco Systems, Inc.       12,558 630,160
Consumer Finance 0.2%
American Express Co.       2,165 434,602
Consumer Staples Distribution & Retail 0.4%
Walmart, Inc.       5,652 933,993
Diversified Telecommunication Services 0.6%
AT&T, Inc.       43,637 771,939
BCE, Inc. (Canada)       15,992 645,277
          1,417,216
Electric Utilities 0.1%
FirstEnergy Corp.       4,111 150,792
Xcel Energy, Inc.       1,884 112,795
          263,587
Entertainment 0.4%
Electronic Arts, Inc.       6,241 858,637
Financial Services 0.3%
Visa, Inc. (Class A Stock)       2,999 819,507
Food Products 0.2%
Kraft Heinz Co. (The)       13,292 493,532
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PGIM Income Builder Fund
Schedule of Investments as of January 31, 2024 (unaudited) (continued)
Description     Shares   Value
Common Stocks (Continued)
Ground Transportation 0.3%
Canadian National Railway Co. (Canada)       3,167  $392,835
Union Pacific Corp.       1,617 394,435
          787,270
Health Care Equipment & Supplies 0.5%
Boston Scientific Corp.*       17,286 1,093,512
Hotels, Restaurants & Leisure 0.3%
McDonald’s Corp.       2,714 794,442
Household Products 0.2%
Procter & Gamble Co. (The)       2,435 382,636
Independent Power & Renewable Electricity Producers 0.6%
RWE AG (Germany)       9,634 355,742
Vistra Corp.       24,000 984,720
          1,340,462
Industrial REITs 0.4%
Prologis, Inc.       7,926 1,004,145
Insurance 0.4%
MetLife, Inc.       13,234 917,381
IT Services 0.4%
International Business Machines Corp.       4,721 867,059
Life Sciences Tools & Services 0.1%
Danaher Corp.       1,431 343,311
Machinery 0.5%
Caterpillar, Inc.       1,281 384,697
Parker-Hannifin Corp.       1,578 732,981
          1,117,678
Metals & Mining 0.2%
Arch Resources, Inc.       2,917 516,192
Mortgage Real Estate Investment Trusts (REITs) 0.1%
Starwood Property Trust, Inc.       15,771 320,624
3
PGIM Income Builder Fund
Schedule of Investments as of January 31, 2024 (unaudited) (continued)
Description     Shares   Value
Common Stocks (Continued)
Oil, Gas & Consumable Fuels 0.6%
Phillips 66       8,208  $1,184,497
Shell PLC (Netherlands), ADR       5,496 345,753
          1,530,250
Pharmaceuticals 0.9%
AstraZeneca PLC (United Kingdom), ADR       18,121 1,207,583
Eli Lilly & Co.       1,555 1,003,924
          2,211,507
Semiconductors & Semiconductor Equipment 1.8%
Applied Materials, Inc.       5,790 951,297
Broadcom, Inc.       1,227 1,447,860
Intel Corp.       18,562 799,651
Lam Research Corp.       1,388 1,145,336
          4,344,144
Software 0.3%
Microsoft Corp.       1,528 607,502
Specialized REITs 0.2%
Digital Realty Trust, Inc.       2,585 363,089
Specialty Retail 0.4%
O’Reilly Automotive, Inc.*       890 910,515
Technology Hardware, Storage & Peripherals 0.4%
Apple, Inc.       5,761 1,062,328
     
 
Total Common Stocks
(cost $26,619,323) 		34,939,887
Preferred Stock 0.2%
Electric Utilities 
NextEra Energy, Inc., CVT, 6.926%, Maturing 09/01/25
(cost $775,661) 		      15,911 592,048
Unaffiliated Exchange-Traded Funds 3.6%
Invesco Preferred ETF(a)       313,588 3,719,154
iShares 0-5 Year High Yield Corporate Bond ETF       57,000 2,417,940
4
PGIM Income Builder Fund
Schedule of Investments as of January 31, 2024 (unaudited) (continued)
Description     Shares   Value
Unaffiliated Exchange-Traded Funds (Continued)
SPDR Bloomberg Convertible Securities ETF       34,500  $2,454,330
     
 
Total Unaffiliated Exchange-Traded Funds
(cost $8,580,490) 		8,591,424
     
 
 
Total Long-Term Investments
(cost $230,983,575) 		234,770,356
 
Short-Term Investments 1.9%
Affiliated Mutual Funds 
PGIM Core Ultra Short Bond Fund     1,852,933 1,852,933
PGIM Institutional Money Market Fund (7-day effective yield 5.727%)
(cost $2,527,564; includes $2,514,912 of cash collateral for securities on loan)(b) 		    2,528,757 2,527,998
     
 
 
Total Short-Term Investments
(cost $4,380,497)(wa) 		4,380,931
 
TOTAL INVESTMENTS 100.9%
(cost $235,364,072) 		        239,151,287
Liabilities in excess of other assets (0.9)% (2,058,598)
 
Net Assets 100.0% $237,092,689
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
  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 $2,463,322; cash collateral of $2,514,912 (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.
(wa) Represents investments in Funds affiliated with the Manager.
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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