NPORT-EX 2 PIPDLS0PGIMCoreConsBdFd.htm
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Long-Term Investments 98.8%
Asset-Backed Security 0.2%
Credit Cards 
Citibank Credit Card Issuance Trust,
Series 2018-A07, Class A7
(cost $118,703) 		3.960 % 10/13/30   100  $116,324
Commercial Mortgage-Backed Securities 5.7%
BANK,
Series 2020-BN29, Class A3 		1.742 11/15/53   100 96,222
Barclays Commercial Mortgage Trust,
Series 2019-C04, Class A4 		2.661 08/15/52   100 104,180
Benchmark Mortgage Trust,          
Series 2018-B03, Class A3 3.746 04/10/51   30 32,326
Series 2020-B19, Class A3 1.787 09/15/53   175 175,614
Series 2020-B21, Class A4 1.704 12/17/53   100 96,499
Series 2021-B23, Class A4A1 1.823 02/15/54   200 193,685
Series 2021-B24, Class A4 2.264 03/15/54   200 201,867
     
 
CCUBS Commercial Mortgage Trust,
Series 2017-C01, Class A3 		3.283(cc) 11/15/50   90 96,920
CD Mortgage Trust,
Series 2017-CD06, Class A3 		3.104 11/13/50   40 41,640
Citigroup Commercial Mortgage Trust,          
Series 2016-P06, Class A4 3.458 12/10/49   125 136,581
Series 2017-P08, Class A3 3.203 09/15/50   75 80,175
Commercial Mortgage Trust,          
Series 2015-PC01, Class A4 3.620 07/10/50   154 158,381
Series 2016-DC02, Class A5 3.765 02/10/49   25 27,562
     
 
CSAIL Commercial Mortgage Trust,
Series 2016-C07, Class A4 		3.210 11/15/49   43 46,418
FHLMC Multifamily Structured Pass-Through
Certificates, 		         
Series K066, Class AM 3.200 06/25/27   307 339,595
Series K069, Class AM 3.248(cc) 09/25/27   50 55,407
Series K070, Class AM 3.364 12/25/27   25 27,913
Series K076, Class AM 3.900 04/25/28   50 57,482
Series K077, Class AM 3.850(cc) 05/25/28   10 11,557
Series K083, Class AM 4.030(cc) 10/25/28   25 29,172
     
 
GS Mortgage Securities Trust,
Series 2020-GC47, Class A4 		2.125 05/12/53   100 99,955
JPMCC Commercial Mortgage Securities Trust,
Series 2019-COR04, Class A3 		3.763 03/10/52   125 138,589
1
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Commercial Mortgage-Backed Securities (Continued)
JPMorgan Chase Commercial Mortgage Securities Trust,          
Series 2016-JP02, Class A3 2.559 % 08/15/49   19  $20,286
Series 2016-JP04, Class A3 3.393 12/15/49   125 136,693
Morgan Stanley Bank of America Merrill Lynch Trust,          
Series 2015-C21, Class A3 3.077 03/15/48   67 70,182
Series 2016-C32, Class A3 3.459 12/15/49   125 137,358
     
 
Morgan Stanley Capital I Trust,
Series 2016-UB12, Class A3 		3.337 12/15/49   125 131,207
UBS Commercial Mortgage Trust,          
Series 2018-C08, Class A3 3.720 02/15/51   200 221,699
Series 2018-C09, Class ASB 4.090 03/15/51   60 66,904
Series 2018-C11, Class A3 4.312 06/15/51   75 82,786
Series 2018-C13, Class A3 4.069 10/15/51   200 222,830
Wells Fargo Commercial Mortgage Trust,          
Series 2016-LC25, Class A3 3.374 12/15/59   125 135,459
Series 2017-C39, Class A3 2.878 09/15/50   100 103,833
Series 2020-C55, Class A4 2.474 02/15/53   125 127,667
     
 
Total Commercial Mortgage-Backed Securities
(cost $3,583,663) 		3,704,644
Corporate Bonds 25.9%
Aerospace & Defense 0.9%
Boeing Co. (The),          
Sr. Unsec’d. Notes 2.196 02/04/26   30 30,036
Sr. Unsec’d. Notes 2.250 06/15/26   35 35,422
Sr. Unsec’d. Notes 2.700 02/01/27   20 20,570
Sr. Unsec’d. Notes 3.100 05/01/26   10 10,530
Sr. Unsec’d. Notes 3.600 05/01/34   30 30,472
Sr. Unsec’d. Notes 3.900 05/01/49   10 10,001
Sr. Unsec’d. Notes 4.508 05/01/23   45 48,058
Sr. Unsec’d. Notes 5.805 05/01/50   75 96,242
     
 
General Dynamics Corp.,
Gtd. Notes 		3.500 05/15/25   105 115,598
Lockheed Martin Corp.,          
Sr. Unsec’d. Notes 2.900 03/01/25   25 26,841
Sr. Unsec’d. Notes 3.800 03/01/45   15 16,747
     
 
Northrop Grumman Corp.,
Sr. Unsec’d. Notes 		4.750 06/01/43   25 30,898
2
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Aerospace & Defense (cont’d.)
     
Raytheon Technologies Corp.,
Sr. Unsec’d. Notes 		4.125 % 11/16/28   30  $34,043
Teledyne Technologies, Inc.,
Sr. Unsec’d. Notes 		2.250 04/01/28   65 65,337
          570,795
Agriculture 0.3%
Altria Group, Inc.,          
Gtd. Notes 3.400 02/04/41   75 68,997
Gtd. Notes 4.800 02/14/29   5 5,690
BAT Capital Corp. (United Kingdom),          
Gtd. Notes 3.215 09/06/26   15 15,880
Gtd. Notes 3.557 08/15/27   30 31,955
Gtd. Notes 4.700 04/02/27   10 11,277
Philip Morris International, Inc.,          
Sr. Unsec’d. Notes 1.125 05/01/23   10 10,153
Sr. Unsec’d. Notes 2.625 03/06/23   50 52,091
          196,043
Airlines 0.2%
Continental Airlines 2012-1 Class A Pass-Through Trust,
Pass-Through Certificates 		4.150 10/11/25   21 22,495
Southwest Airlines Co.,          
Sr. Unsec’d. Notes 2.625 02/10/30   20 20,156
Sr. Unsec’d. Notes 4.750 05/04/23   40 43,211
Sr. Unsec’d. Notes 5.125 06/15/27   30 35,078
          120,940
Auto Manufacturers 0.3%
General Motors Co.,          
Sr. Unsec’d. Notes 6.250 10/02/43   5 6,581
Sr. Unsec’d. Notes 6.600 04/01/36   10 13,311
Sr. Unsec’d. Notes 6.750 04/01/46   70 96,277
     
 
General Motors Financial Co., Inc.,
Gtd. Notes 		4.000 01/15/25   70 76,261
          192,430
3
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Banks 5.4%
Bank of America Corp.,          
Sr. Unsec’d. Notes 2.687 %(ff) 04/22/32   145  $146,593
Sr. Unsec’d. Notes, MTN 3.970(ff) 03/05/29   345 384,862
Sr. Unsec’d. Notes, MTN 4.083(ff) 03/20/51   75 84,073
     
 
Barclays PLC (United Kingdom),
Sr. Unsec’d. Notes 		2.645(ff) 06/24/31   150 148,971
Citigroup, Inc.,          
Sr. Unsec’d. Notes 2.561(ff) 05/01/32   25 24,978
Sr. Unsec’d. Notes 2.572(ff) 06/03/31   70 70,324
Sr. Unsec’d. Notes 2.666(ff) 01/29/31   35 35,493
Sr. Unsec’d. Notes 2.976(ff) 11/05/30   115 119,895
Sr. Unsec’d. Notes 3.400 05/01/26   45 49,279
Sr. Unsec’d. Notes 3.668(ff) 07/24/28   60 66,108
Sr. Unsec’d. Notes 3.980(ff) 03/20/30   20 22,325
Sr. Unsec’d. Notes 4.075(ff) 04/23/29   50 56,144
Sr. Unsec’d. Notes 4.650 07/30/45   50 61,463
     
 
Credit Suisse Group AG (Switzerland),
Sr. Unsec’d. Notes 		4.550 04/17/26   100 112,635
Deutsche Bank AG (Germany),
Sr. Unsec’d. Notes, Series D 		5.000 02/14/22   50 51,646
Goldman Sachs Group, Inc. (The),          
Sr. Unsec’d. Notes 1.992(ff) 01/27/32   40 38,019
Sr. Unsec’d. Notes 2.615(ff) 04/22/32   10 10,045
Sr. Unsec’d. Notes 3.814(ff) 04/23/29   100 110,507
Sr. Unsec’d. Notes 4.223(ff) 05/01/29   175 198,086
     
 
HSBC Holdings PLC (United Kingdom),
Sr. Unsec’d. Notes 		4.583(ff) 06/19/29   85 96,431
JPMorgan Chase & Co.,          
Sr. Unsec’d. Notes 2.522(ff) 04/22/31   30 30,268
Sr. Unsec’d. Notes 2.525(ff) 11/19/41   10 9,123
Sr. Unsec’d. Notes 2.580(ff) 04/22/32   25 25,107
Sr. Unsec’d. Notes 2.739(ff) 10/15/30   15 15,393
Sr. Unsec’d. Notes 3.509(ff) 01/23/29   260 283,575
Sr. Unsec’d. Notes 3.882(ff) 07/24/38   95 105,233
Sr. Unsec’d. Notes 4.452(ff) 12/05/29   65 74,966
Sub. Notes 3.875 09/10/24   60 65,598
Morgan Stanley,          
Sr. Unsec’d. Notes 3.217(ff) 04/22/42   5 5,070
Sr. Unsec’d. Notes 4.375 01/22/47   55 66,189
Sr. Unsec’d. Notes, GMTN 3.772(ff) 01/24/29   170 187,817
4
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Banks (cont’d.)
Morgan Stanley, (cont’d.)          
Sr. Unsec’d. Notes, GMTN 4.431 %(ff) 01/23/30   70  $80,733
Sr. Unsec’d. Notes, MTN 1.794(ff) 02/13/32   55 51,609
Sr. Unsec’d. Notes, MTN 1.928(ff) 04/28/32   80 75,879
     
 
Natwest Group PLC (United Kingdom),
Sr. Unsec’d. Notes 		4.269(ff) 03/22/25   30 32,718
PNC Financial Services Group, Inc. (The),
Sub. Notes 		3.900 04/29/24   50 54,645
Truist Bank,
Sr. Unsec’d. Notes 		2.750 05/01/23   20 20,924
Truist Financial Corp.,
Sr. Unsec’d. Notes 		2.700 01/27/22   20 20,320
Wells Fargo & Co.,          
Sr. Unsec’d. Notes 3.000 10/23/26   55 59,304
Sr. Unsec’d. Notes, MTN 2.572(ff) 02/11/31   70 70,777
Sr. Unsec’d. Notes, MTN 2.879(ff) 10/30/30   185 191,983
Sr. Unsec’d. Notes, MTN 3.000 02/19/25   90 96,624
          3,511,732
Beverages 0.6%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev
Worldwide, Inc. (Belgium), 		         
Gtd. Notes 4.700 02/01/36   20 23,656
Gtd. Notes 4.900 02/01/46   90 107,515
Anheuser-Busch InBev Worldwide, Inc. (Belgium),          
Gtd. Notes 4.750 01/23/29   80 93,890
Gtd. Notes 5.550 01/23/49   30 38,778
Constellation Brands, Inc.,          
Gtd. Notes 3.700 12/06/26   20 22,174
Gtd. Notes 4.400 11/15/25   10 11,322
     
 
PepsiCo, Inc.,
Sr. Unsec’d. Notes 		2.750 03/05/22   75 76,595
          373,930
Biotechnology 0.3%
Amgen, Inc.,
Sr. Unsec’d. Notes 		2.600 08/19/26   180 190,500
5
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Biotechnology (cont’d.)
Gilead Sciences, Inc.,
Sr. Unsec’d. Notes 		4.400 % 12/01/21   20  $20,264
Regeneron Pharmaceuticals, Inc.,
Sr. Unsec’d. Notes 		2.800 09/15/50   15 13,068
          223,832
Building Materials 0.2%
Martin Marietta Materials, Inc.,
Sr. Unsec’d. Notes, Series CB 		2.500 03/15/30   30 30,219
Owens Corning,          
Sr. Unsec’d. Notes 4.200 12/01/24   35 38,581
Sr. Unsec’d. Notes 4.300 07/15/47   35 39,146
     
 
Vulcan Materials Co.,
Sr. Unsec’d. Notes 		4.500 06/15/47   35 40,968
          148,914
Chemicals 0.7%
Dow Chemical Co. (The),          
Sr. Unsec’d. Notes 3.625 05/15/26   55 60,691
Sr. Unsec’d. Notes 4.625 10/01/44   20 23,487
Sr. Unsec’d. Notes 5.550 11/30/48   10 13,388
     
 
DuPont de Nemours, Inc.,
Sr. Unsec’d. Notes 		4.493 11/15/25   65 73,867
FMC Corp.,          
Sr. Unsec’d. Notes 3.450 10/01/29   15 16,112
Sr. Unsec’d. Notes 4.500 10/01/49   25 29,217
     
 
LYB International Finance BV,
Gtd. Notes 		4.875 03/15/44   45 53,586
LYB International Finance III LLC,          
Gtd. Notes 2.250 10/01/30   5 4,884
Gtd. Notes 3.375 05/01/30   70 74,928
Gtd. Notes 3.375 10/01/40   5 5,043
Nutrien Ltd. (Canada),          
Sr. Unsec’d. Notes 3.500 06/01/23   50 52,617
Sr. Unsec’d. Notes 5.250 01/15/45   35 44,666
6
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Chemicals (cont’d.)
     
 
Sherwin-Williams Co. (The),
Sr. Unsec’d. Notes 		4.500 % 06/01/47   10  $11,919
          464,405
Commercial Services 0.3%
California Institute of Technology,
Sr. Unsec’d. Notes 		3.650 09/01/2119   15 16,084
Cintas Corp. No. 2,
Gtd. Notes 		3.700 04/01/27   20 22,357
Equifax, Inc.,
Sr. Unsec’d. Notes 		2.600 12/01/24   30 31,765
IHS Markit Ltd.,
Sr. Unsec’d. Notes 		4.125 08/01/23   5 5,362
President & Fellows of Harvard College,
Unsec’d. Notes 		3.150 07/15/46   9 9,704
Trustees of the University of Pennsylvania (The),          
Sr. Unsec’d. Notes 3.610 02/15/2119   5 5,169
Unsec’d. Notes, Series 2020 2.396 10/01/50   15 13,835
     
 
University of Southern California,
Unsec’d. Notes, Series 2017 		3.841 10/01/47   10 11,701
Verisk Analytics, Inc.,
Sr. Unsec’d. Notes 		4.125 09/12/22   20 20,972
Yale University,
Unsec’d. Notes, Series 2020 		2.402 04/15/50   45 42,041
          178,990
Computers 0.4%
Apple, Inc.,          
Sr. Unsec’d. Notes 3.250 02/23/26   155 170,312
Sr. Unsec’d. Notes 3.850 08/04/46   75 86,098
     
 
Genpact Luxembourg Sarl/Genpact USA, Inc.,
Gtd. Notes 		1.750 04/10/26   35 34,933
          291,343
Diversified Financial Services 0.5%
Capital One Bank USA NA,
Sub. Notes 		3.375 02/15/23   20 20,994
7
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Diversified Financial Services (cont’d.)
Discover Financial Services,
Sr. Unsec’d. Notes 		4.100 % 02/09/27   20  $22,362
GE Capital International Funding Co. Unlimited Co.,
Gtd. Notes 		3.373 11/15/25   135 147,069
Jefferies Group LLC,
Sr. Unsec’d. Notes 		2.750 10/15/32   55 54,289
Mastercard, Inc.,
Sr. Unsec’d. Notes 		3.375 04/01/24   20 21,684
Private Export Funding Corp.,
U.S. Gov’t. Gtd. Notes, Series KK 		3.550 01/15/24   25 26,906
Visa, Inc.,
Sr. Unsec’d. Notes 		2.700 04/15/40   5 4,967
          298,271
Electric 3.0%
AEP Texas, Inc.,          
Sr. Unsec’d. Notes 3.800 10/01/47   30 31,578
Sr. Unsec’d. Notes, Series I 2.100 07/01/30   25 24,305
     
 
AEP Transmission Co. LLC,
Sr. Unsec’d. Notes 		3.750 12/01/47   25 27,473
Alabama Power Co.,
Sr. Unsec’d. Notes 		3.850 12/01/42   15 16,621
Ameren Illinois Co.,
Sr. Sec’d. Notes 		4.150 03/15/46   30 35,094
Appalachian Power Co.,
Sr. Unsec’d. Notes, Series X 		3.300 06/01/27   10 10,835
Arizona Public Service Co.,
Sr. Unsec’d. Notes 		2.600 08/15/29   10 10,351
Atlantic City Electric Co.,
First Mortgage 		2.300 03/15/31   10 9,964
Berkshire Hathaway Energy Co.,
Sr. Unsec’d. Notes 		6.125 04/01/36   80 109,615
CenterPoint Energy Houston Electric LLC,
General Ref. Mortgage 		3.950 03/01/48   25 28,389
CenterPoint Energy, Inc.,
Sr. Unsec’d. Notes 		2.950 03/01/30   25 25,809
Commonwealth Edison Co.,          
First Mortgage 4.600 08/15/43   45 55,085
First Mortgage, Series 123 3.750 08/15/47   5 5,529
8
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Electric (cont’d.)
Dominion Energy South Carolina, Inc.,          
First Mortgage 5.100 % 06/01/65   15  $20,662
First Mortgage 5.450 02/01/41   20 26,472
     
 
DTE Electric Co.,
General Ref. Mortgage 		3.750 08/15/47   20 22,159
DTE Energy Co.,
Sr. Unsec’d. Notes 		3.800 03/15/27   50 55,497
Duke Energy Carolinas LLC,          
First Mortgage 4.250 12/15/41   15 17,698
First Ref. Mortgage 4.000 09/30/42   40 45,701
     
 
Duke Energy Corp.,
Sr. Unsec’d. Notes 		2.650 09/01/26   75 79,064
Duke Energy Florida LLC,
First Mortgage 		6.350 09/15/37   15 21,495
Duke Energy Indiana LLC,
First Mortgage, Series YYY 		3.250 10/01/49   45 45,653
Entergy Louisiana LLC,
Collateral Trust 		4.200 04/01/50   10 11,814
Entergy Texas, Inc.,
First Mortgage 		1.750 03/15/31   50 47,006
Evergy Kansas Central, Inc.,
First Mortgage 		4.125 03/01/42   15 17,152
Eversource Energy,
Sr. Unsec’d. Notes, Series R 		1.650 08/15/30   15 14,096
Exelon Corp.,
Sr. Unsec’d. Notes 		5.625 06/15/35   5 6,436
Florida Power & Light Co.,
First Mortgage 		5.250 02/01/41   25 33,412
Fortis, Inc. (Canada),
Sr. Unsec’d. Notes 		3.055 10/04/26   7 7,506
Georgia Power Co.,
Sr. Unsec’d. Notes, Series B 		2.650 09/15/29   35 36,226
Hydro-Quebec (Canada),
Local Gov’t. Gtd. Notes, Series IO 		8.050 07/07/24   10 12,270
Louisville Gas & Electric Co.,
First Mortgage 		5.125 11/15/40   5 6,201
Nevada Power Co.,
General Ref. Mortgage, Series R 		6.750 07/01/37   10 14,303
NextEra Energy Capital Holdings, Inc.,
Gtd. Notes 		2.750 11/01/29   30 31,187
9
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Electric (cont’d.)
     
Northern States Power Co.,
First Mortgage 		3.600 % 09/15/47   15  $16,434
Ohio Power Co.,
Sr. Unsec’d. Notes 		4.000 06/01/49   20 22,760
Pacific Gas & Electric Co.,          
First Mortgage 1.750 06/16/22   30 30,024
First Mortgage 3.950 12/01/47   40 36,925
First Mortgage 4.500 07/01/40   15 15,101
PacifiCorp,          
First Mortgage 5.250 06/15/35   45 57,632
First Mortgage 6.000 01/15/39   25 34,577
     
 
PECO Energy Co.,
First Mortgage 		2.800 06/15/50   20 19,076
PPL Capital Funding, Inc.,          
Gtd. Notes 4.125 04/15/30   30 33,984
Gtd. Notes 4.700 06/01/43   35 41,933
PPL Electric Utilities Corp.,          
First Mortgage 4.125 06/15/44   15 17,051
First Mortgage 4.150 10/01/45   20 23,129
First Mortgage 6.250 05/15/39   10 14,017
     
 
PSEG Power LLC,
Gtd. Notes 		3.850 06/01/23   140 149,284
Public Service Electric & Gas Co.,          
First Mortgage, MTN 3.200 08/01/49   10 10,420
First Mortgage, MTN 3.600 12/01/47   5 5,464
First Mortgage, MTN 3.650 09/01/28   30 33,426
First Ref. Mortgage, MTN 3.950 05/01/42   10 11,497
Puget Energy, Inc.,          
Sr. Sec’d. Notes 3.650 05/15/25   20 21,559
Sr. Sec’d. Notes 4.100 06/15/30   35 38,507
San Diego Gas & Electric Co.,          
First Mortgage, Series RRR 3.750 06/01/47   5 5,467
First Mortgage, Series UUU 3.320 04/15/50   25 25,647
     
 
Sempra Energy,
Sr. Unsec’d. Notes 		4.000 02/01/48   25 27,000
Southern California Edison Co.,          
First Ref. Mortgage 4.000 04/01/47   30 31,366
First Ref. Mortgage 4.650 10/01/43   40 46,014
First Ref. Mortgage, Series C 3.500 10/01/23   50 53,164
     
 
10
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Electric (cont’d.)
     
Tampa Electric Co.,
Sr. Unsec’d. Notes 		4.450 % 06/15/49   20  $24,368
Virginia Electric & Power Co.,          
Sr. Unsec’d. Notes, Series A 6.000 05/15/37   20 27,322
Sr. Unsec’d. Notes, Series B 6.000 01/15/36   10 13,566
     
 
Xcel Energy, Inc.,
Sr. Unsec’d. Notes 		4.000 06/15/28   70 78,526
          1,927,898
Electronics 0.1%
Agilent Technologies, Inc.,
Sr. Unsec’d. Notes 		2.300 03/12/31   50 49,179
FLIR Systems, Inc.,
Sr. Unsec’d. Notes 		2.500 08/01/30   5 4,969
          54,148
Foods 0.1%
Kroger Co. (The),
Sr. Unsec’d. Notes 		2.650 10/15/26   5 5,313
Mondelez International, Inc.,
Sr. Unsec’d. Notes 		2.750 04/13/30   25 25,813
Tyson Foods, Inc.,
Sr. Unsec’d. Notes 		4.000 03/01/26   60 67,083
          98,209
Forest Products & Paper 0.1%
International Paper Co.,
Sr. Unsec’d. Notes 		5.000 09/15/35   30 36,903
Gas 0.1%
Atmos Energy Corp.,
Sr. Unsec’d. Notes 		3.375 09/15/49   15 15,411
11
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Gas (cont’d.)
NiSource, Inc.,
Sr. Unsec’d. Notes 		4.800 % 02/15/44   25  $30,084
Southern Co. Gas Capital Corp.,
Gtd. Notes 		4.400 06/01/43   25 28,453
          73,948
Hand/Machine Tools 0.0%
Stanley Black & Decker, Inc.,
Sr. Unsec’d. Notes 		2.750 11/15/50   35 32,293
Healthcare-Products 0.1%
Abbott Laboratories,
Sr. Unsec’d. Notes 		4.900 11/30/46   25 32,840
Stryker Corp.,          
Sr. Unsec’d. Notes 3.375 05/15/24   10 10,760
Sr. Unsec’d. Notes 3.375 11/01/25   10 10,944
     
 
Thermo Fisher Scientific, Inc.,
Sr. Unsec’d. Notes 		4.133 03/25/25   10 11,128
          65,672
Healthcare-Services 1.2%
Advocate Health & Hospitals Corp.,
Sr. Unsec’d. Notes 		3.387 10/15/49   15 15,805
Aetna, Inc.,
Sr. Unsec’d. Notes 		2.750 11/15/22   50 51,453
AHS Hospital Corp.,
Sr. Unsec’d. Notes, Series 2021 		2.780 07/01/51   10 9,452
Anthem, Inc.,          
Sr. Unsec’d. Notes 3.650 12/01/27   90 99,991
Sr. Unsec’d. Notes 4.625 05/15/42   25 29,903
Ascension Health,          
Sr. Unsec’d. Notes, Series B 2.532 11/15/29   15 15,538
Unsec’d. Notes 4.847 11/15/53   30 40,453
     
 
Baylor Scott & White Holdings,
Unsec’d. Notes, Series 2021 		1.777 11/15/30   30 28,834
Children’s Health System of Texas,
Unsec’d. Notes 		2.511 08/15/50   10 8,947
12
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Healthcare-Services (cont’d.)
     
Children’s Hospital Corp. (The),
Gtd. Notes, Series 2017 		4.115 % 01/01/47   10  $12,031
CommonSpirit Health,
Sr. Sec’d. Notes 		2.760 10/01/24   20 21,162
Kaiser Foundation Hospitals,
Gtd. Notes 		4.150 05/01/47   20 24,064
Memorial Sloan-Kettering Cancer Center,          
Sr. Unsec’d. Notes 5.000 07/01/42   30 39,376
Unsec’d. Notes, Series 2020 2.955 01/01/50   10 9,856
     
 
Methodist Hospital (The),
Unsec’d. Notes, Series 20A 		2.705 12/01/50   25 23,205
Mount Sinai Hospitals Group, Inc.,
Sec’d. Notes, Series 2019 		3.737 07/01/49   10 10,568
New York & Presbyterian Hospital (The),
Unsec’d. Notes 		4.024 08/01/45   45 52,950
NYU Langone Hospitals,
Sec’d. Notes 		4.368 07/01/47   15 17,485
PeaceHealth Obligated Group,
Sr. Unsec’d. Notes, Series 2020 		1.375 11/15/25   5 5,028
Providence St. Joseph Health Obligated Group,          
Unsec’d. Notes, Series 19A 2.532 10/01/29   10 10,299
Unsec’d. Notes, Series H 2.746 10/01/26   30 32,037
Stanford Health Care,          
Unsec’d. Notes 3.027 08/15/51   30 29,720
Unsec’d. Notes, Series 2018 3.795 11/15/48   15 17,229
     
 
Sutter Health,
Unsec’d. Notes, Series 2018 		4.091 08/15/48   45 51,976
UnitedHealth Group, Inc.,          
Sr. Unsec’d. Notes 3.750 07/15/25   90 100,195
Sr. Unsec’d. Notes 3.875 08/15/59   5 5,589
Sr. Unsec’d. Notes 4.250 06/15/48   25 29,601
          792,747
Insurance 0.7%
American International Group, Inc.,
Sr. Unsec’d. Notes 		4.500 07/16/44   85 98,261
Arch Capital Finance LLC,
Gtd. Notes 		4.011 12/15/26   45 50,963
13
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Insurance (cont’d.)
Berkshire Hathaway, Inc.,
Sr. Unsec’d. Notes 		3.125 % 03/15/26   50  $54,781
Chubb Corp. (The),
Gtd. Notes 		6.000 05/11/37   30 42,162
CNA Financial Corp.,          
Sr. Unsec’d. Notes 3.900 05/01/29   25 27,791
Sr. Unsec’d. Notes 3.950 05/15/24   35 38,028
     
 
Everest Reinsurance Holdings, Inc.,
Sr. Unsec’d. Notes 		3.500 10/15/50   25 25,143
Lincoln National Corp.,          
Sr. Unsec’d. Notes 3.050 01/15/30   5 5,238
Sr. Unsec’d. Notes 4.350 03/01/48   5 5,695
     
 
Loews Corp.,
Sr. Unsec’d. Notes 		3.200 05/15/30   15 16,004
Markel Corp.,          
Sr. Unsec’d. Notes 4.150 09/17/50   40 45,465
Sr. Unsec’d. Notes 4.300 11/01/47   15 17,254
          426,785
Internet 0.0%
Amazon.com, Inc.,
Sr. Unsec’d. Notes 		2.800 08/22/24   10 10,725
Iron/Steel 0.0%
Steel Dynamics, Inc.,
Sr. Unsec’d. Notes 		2.400 06/15/25   10 10,457
Lodging 0.1%
Marriott International, Inc.,          
Sr. Unsec’d. Notes 3.600 04/15/24   5 5,324
Sr. Unsec’d. Notes, Series R 3.125 06/15/26   45 47,878
          53,202
Machinery-Diversified 0.3%
John Deere Capital Corp.,          
Sr. Unsec’d. Notes 2.800 01/27/23   10 10,446
Sr. Unsec’d. Notes, MTN 2.650 06/24/24   10 10,648
Sr. Unsec’d. Notes, MTN 2.800 03/06/23   30 31,427
14
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Machinery-Diversified (cont’d.)
Westinghouse Air Brake Technologies Corp.,          
Gtd. Notes 3.450 % 11/15/26   60  $65,226
Gtd. Notes 4.950 09/15/28   10 11,493
     
 
Xylem, Inc.,
Sr. Unsec’d. Notes 		3.250 11/01/26   35 38,220
          167,460
Media 1.1%
Charter Communications Operating LLC/Charter
Communications Operating Capital, 		         
Sr. Sec’d. Notes 3.700 04/01/51   105 99,126
Sr. Sec’d. Notes 4.800 03/01/50   15 16,485
Sr. Sec’d. Notes 5.375 04/01/38   45 53,479
Sr. Sec’d. Notes 6.484 10/23/45   50 66,160
Comcast Corp.,          
Gtd. Notes 3.450 02/01/50   75 78,359
Gtd. Notes 3.750 04/01/40   10 11,049
Gtd. Notes 4.600 08/15/45   55 67,350
Gtd. Notes 4.650 07/15/42   10 12,266
Discovery Communications LLC,          
Gtd. Notes 4.125 05/15/29   10 11,030
Gtd. Notes 5.300 05/15/49   25 29,917
Gtd. Notes, 144A 4.000 09/15/55   76 74,445
ViacomCBS, Inc.,          
Sr. Unsec’d. Notes 3.875 04/01/24   20 21,591
Sr. Unsec’d. Notes 5.850 09/01/43   20 25,666
     
 
Walt Disney Co. (The),
Gtd. Notes 		7.300 04/30/28   95 126,077
          693,000
Mining 0.4%
Barrick North America Finance LLC (Canada),          
Gtd. Notes 5.700 05/30/41   35 45,875
Gtd. Notes 5.750 05/01/43   30 40,178
     
 
Barrick PD Australia Finance Pty Ltd. (Canada),
Gtd. Notes 		5.950 10/15/39   20 27,015
Kinross Gold Corp. (Canada),
Gtd. Notes 		4.500 07/15/27   65 74,070
15
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Mining (cont’d.)
Newmont Corp.,          
Gtd. Notes 2.250 % 10/01/30   20  $19,614
Gtd. Notes 2.800 10/01/29   40 41,403
Gtd. Notes 5.450 06/09/44   15 19,732
          267,887
Miscellaneous Manufacturing 0.1%
Pentair Finance Sarl,
Gtd. Notes 		4.500 07/01/29   15 17,411
Textron, Inc.,
Sr. Unsec’d. Notes 		2.450 03/15/31   55 54,280
          71,691
Oil & Gas 1.0%
BP Capital Markets America, Inc.,
Gtd. Notes 		3.245 05/06/22   60 61,814
Chevron Corp.,
Sr. Unsec’d. Notes 		3.078 05/11/50   15 14,657
Chevron USA, Inc.,
Gtd. Notes 		6.000 03/01/41   20 28,306
ConocoPhillips,          
Gtd. Notes, 144A 2.400 02/15/31   15 14,875
Gtd. Notes, 144A 3.750 10/01/27   40 44,546
Gtd. Notes, 144A 4.300 08/15/28   70 79,838
Gtd. Notes, 144A 4.875 10/01/47   5 6,242
     
 
ConocoPhillips Co.,
Gtd. Notes 		4.950 03/15/26   30 35,025
Devon Energy Corp.,
Sr. Unsec’d. Notes 		5.600 07/15/41   10 11,843
Diamondback Energy, Inc.,          
Gtd. Notes 3.125 03/24/31   45 45,431
Gtd. Notes 3.500 12/01/29   35 36,676
Ecopetrol SA (Colombia),          
Sr. Unsec’d. Notes 5.375 06/26/26   30 33,686
Sr. Unsec’d. Notes 5.875 09/18/23   70 76,966
     
 
EOG Resources, Inc.,
Sr. Unsec’d. Notes 		3.900 04/01/35   25 27,437
16
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Oil & Gas (cont’d.)
     
Equinor ASA (Norway),
Gtd. Notes 		3.700 % 04/06/50   20  $21,699
Exxon Mobil Corp.,
Sr. Unsec’d. Notes 		4.114 03/01/46   20 22,466
Pioneer Natural Resources Co.,          
Sr. Unsec’d. Notes 1.900 08/15/30   40 37,382
Sr. Unsec’d. Notes 2.150 01/15/31   20 18,918
     
 
Total Capital International SA (France),
Gtd. Notes 		2.829 01/10/30   25 26,288
Valero Energy Corp.,
Sr. Unsec’d. Notes 		4.000 04/01/29   20 21,828
          665,923
Oil & Gas Services 0.0%
Halliburton Co.,
Sr. Unsec’d. Notes 		4.750 08/01/43   25 27,122
Packaging & Containers 0.1%
Berry Global, Inc.,          
Sr. Sec’d. Notes, 144A 0.950 02/15/24   35 34,958
Sr. Sec’d. Notes, 144A 1.570 01/15/26   55 54,638
          89,596
Pharmaceuticals 2.2%
AbbVie, Inc.,          
Sr. Unsec’d. Notes 3.200 11/21/29   10 10,684
Sr. Unsec’d. Notes 4.250 11/21/49   165 187,460
Sr. Unsec’d. Notes 4.550 03/15/35   40 47,305
Sr. Unsec’d. Notes 4.700 05/14/45   45 53,610
     
 
Becton, Dickinson & Co.,
Sr. Unsec’d. Notes 		3.734 12/15/24   32 35,034
Bristol-Myers Squibb Co.,
Sr. Unsec’d. Notes 		4.250 10/26/49   45 53,356
Cigna Corp.,          
Gtd. Notes 4.500 02/25/26   120 136,767
Gtd. Notes 4.900 12/15/48   15 18,536
Sr. Unsec’d. Notes 2.375 03/15/31   20 19,747
Sr. Unsec’d. Notes 2.400 03/15/30   10 10,005
17
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Pharmaceuticals (cont’d.)
Cigna Corp., (cont’d.)          
Sr. Unsec’d. Notes 3.400 % 03/15/50   45  $44,692
CVS Health Corp.,          
Sr. Unsec’d. Notes 4.300 03/25/28   37 42,106
Sr. Unsec’d. Notes 4.780 03/25/38   35 41,850
Sr. Unsec’d. Notes 5.050 03/25/48   50 61,534
Sr. Unsec’d. Notes 5.125 07/20/45   40 49,817
     
 
GlaxoSmithKline Capital PLC (United Kingdom),
Gtd. Notes 		2.850 05/08/22   45 46,181
Johnson & Johnson,          
Sr. Unsec’d. Notes 2.100 09/01/40   15 13,737
Sr. Unsec’d. Notes 3.625 03/03/37   45 50,994
Merck & Co., Inc.,          
Sr. Unsec’d. Notes 2.400 09/15/22   100 102,426
Sr. Unsec’d. Notes 3.400 03/07/29   15 16,641
Mylan, Inc.,          
Gtd. Notes 4.200 11/29/23   30 32,326
Gtd. Notes 5.200 04/15/48   75 87,177
     
 
Pfizer, Inc.,
Sr. Unsec’d. Notes 		2.550 05/28/40   35 33,596
Takeda Pharmaceutical Co. Ltd. (Japan),
Sr. Unsec’d. Notes 		2.050 03/31/30   135 130,742
Viatris, Inc.,          
Gtd. Notes, 144A 3.850 06/22/40   10 10,196
Gtd. Notes, 144A 4.000 06/22/50   50 49,761
     
 
Wyeth LLC,
Gtd. Notes 		6.450 02/01/24   50 57,963
          1,444,243
Pipelines 1.4%
Energy Transfer LP,          
Sr. Unsec’d. Notes 3.900 07/15/26   50 54,089
Sr. Unsec’d. Notes 4.200 04/15/27   30 32,807
Sr. Unsec’d. Notes 4.750 01/15/26   40 44,655
Sr. Unsec’d. Notes 4.900 03/15/35   30 32,773
Sr. Unsec’d. Notes 5.300 04/15/47   10 10,690
Sr. Unsec’d. Notes 6.625 10/15/36   10 12,452
Enterprise Products Operating LLC,          
Gtd. Notes 3.200 02/15/52   5 4,610
18
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Pipelines (cont’d.)
Enterprise Products Operating LLC, (cont’d.)          
Gtd. Notes 4.850 % 03/15/44   105   $122,507
     
 
Kinder Morgan, Inc.,
Gtd. Notes 		3.250 08/01/50   5 4,538
Magellan Midstream Partners LP,          
Sr. Unsec’d. Notes 3.250 06/01/30   20 21,223
Sr. Unsec’d. Notes 3.950 03/01/50   40 40,703
Sr. Unsec’d. Notes 4.200 10/03/47   10 10,460
MPLX LP,          
Sr. Unsec’d. Notes 4.125 03/01/27   10 11,141
Sr. Unsec’d. Notes 4.500 07/15/23   20 21,463
Sr. Unsec’d. Notes 4.500 04/15/38   20 21,999
Sr. Unsec’d. Notes 4.700 04/15/48   50 54,861
Sr. Unsec’d. Notes 4.800 02/15/29   50 57,649
     
 
ONEOK Partners LP,
Gtd. Notes 		3.375 10/01/22   35 36,140
ONEOK, Inc.,          
Gtd. Notes 3.100 03/15/30   95 96,459
Gtd. Notes 4.450 09/01/49   25 25,952
Gtd. Notes 4.950 07/13/47   10 10,993
Phillips 66 Partners LP,          
Sr. Unsec’d. Notes 3.750 03/01/28   10 10,776
Sr. Unsec’d. Notes 4.900 10/01/46   25 28,154
Plains All American Pipeline LP/PAA Finance Corp.,          
Sr. Unsec’d. Notes 3.550 12/15/29   25 25,371
Sr. Unsec’d. Notes 3.800 09/15/30   5 5,148
Transcontinental Gas Pipe Line Co. LLC,          
Sr. Unsec’d. Notes 3.250 05/15/30   40 42,280
Sr. Unsec’d. Notes 4.600 03/15/48   30 34,834
Williams Cos., Inc. (The),          
Sr. Unsec’d. Notes 3.750 06/15/27   30 33,042
Sr. Unsec’d. Notes 4.850 03/01/48   5 5,673
          913,442
Real Estate Investment Trusts (REITs) 0.6%
Boston Properties LP,
Sr. Unsec’d. Notes 		3.850 02/01/23   20 20,976
Essex Portfolio LP,
Gtd. Notes 		1.700 03/01/28   15 14,585
19
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Real Estate Investment Trusts (REITs) (cont’d.)
Healthpeak Properties, Inc.,
Sr. Unsec’d. Notes 		3.000 % 01/15/30   20  $20,897
Kimco Realty Corp.,
Sr. Unsec’d. Notes 		1.900 03/01/28   25 24,714
Realty Income Corp.,
Sr. Unsec’d. Notes 		3.000 01/15/27   10 10,673
Simon Property Group LP,          
Sr. Unsec’d. Notes 2.450 09/13/29   20 20,145
Sr. Unsec’d. Notes 3.375 10/01/24   70 75,402
Sr. Unsec’d. Notes 3.500 09/01/25   5 5,464
Sr. Unsec’d. Notes 3.750 02/01/24   10 10,779
     
 
Spirit Realty LP,
Gtd. Notes 		2.700 02/15/32   25 24,291
Ventas Realty LP,
Gtd. Notes 		3.850 04/01/27   15 16,685
VEREIT Operating Partnership LP,
Gtd. Notes 		3.100 12/15/29   45 47,398
Welltower, Inc.,
Sr. Unsec’d. Notes 		2.700 02/15/27   10 10,600
Weyerhaeuser Co.,
Sr. Unsec’d. Notes 		4.000 04/15/30   65 72,831
WP Carey, Inc.,
Sr. Unsec’d. Notes 		2.250 04/01/33   35 33,014
          408,454
Retail 0.5%
AutoZone, Inc.,          
Sr. Unsec’d. Notes 1.650 01/15/31   5 4,642
Sr. Unsec’d. Notes 3.750 04/18/29   30 32,899
     
 
Costco Wholesale Corp.,
Sr. Unsec’d. Notes 		1.600 04/20/30   15 14,506
Dollar Tree, Inc.,
Sr. Unsec’d. Notes 		4.200 05/15/28   30 34,055
Home Depot, Inc. (The),          
Sr. Unsec’d. Notes 3.750 02/15/24   125 135,411
Sr. Unsec’d. Notes 3.900 06/15/47   30 34,311
     
 
Lowe’s Cos., Inc.,
Sr. Unsec’d. Notes 		3.100 05/03/27   20 21,693
20
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Retail (cont’d.)
McDonald’s Corp.,          
Sr. Unsec’d. Notes, MTN 3.700 % 01/30/26   5  $5,553
Sr. Unsec’d. Notes, MTN 4.700 12/09/35   25 30,191
     
 
O’Reilly Automotive, Inc.,
Sr. Unsec’d. Notes 		1.750 03/15/31   15 14,055
          327,316
Semiconductors 0.3%
Broadcom, Inc.,          
Gtd. Notes 3.150 11/15/25   13 13,930
Gtd. Notes 4.110 09/15/28   75 82,712
Gtd. Notes, 144A 3.500 02/15/41   25 24,122
Sr. Unsec’d. Notes, 144A 3.419 04/15/33   62 62,857
          183,621
Software 0.7%
Fidelity National Information Services, Inc.,
Sr. Unsec’d. Notes 		3.100 03/01/41   25 24,802
Fiserv, Inc.,          
Sr. Unsec’d. Notes 2.750 07/01/24   5 5,306
Sr. Unsec’d. Notes 3.850 06/01/25   15 16,542
     
 
Intuit, Inc.,
Sr. Unsec’d. Notes 		1.350 07/15/27   5 4,947
Microsoft Corp.,          
Sr. Unsec’d. Notes 2.525 06/01/50   38 35,349
Sr. Unsec’d. Notes 2.875 02/06/24   85 90,519
Sr. Unsec’d. Notes 2.921 03/17/52   52 52,008
Oracle Corp.,          
Sr. Unsec’d. Notes 2.800 04/01/27   100 105,875
Sr. Unsec’d. Notes 2.950 05/15/25   85 90,814
     
 
ServiceNow, Inc.,
Sr. Unsec’d. Notes 		1.400 09/01/30   30 27,401
          453,563
Telecommunications 1.3%
AT&T, Inc.,          
Sr. Unsec’d. Notes 1.700 03/25/26   100 100,447
21
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Telecommunications (cont’d.)
AT&T, Inc., (cont’d.)          
Sr. Unsec’d. Notes 3.500 % 06/01/41   110  $108,585
Sr. Unsec’d. Notes, 144A 2.550 12/01/33   19 18,104
Sr. Unsec’d. Notes, 144A 3.550 09/15/55   105 96,758
Sr. Unsec’d. Notes, 144A 3.800 12/01/57   30 28,638
T-Mobile USA, Inc.,          
Sr. Sec’d. Notes, 144A 2.050 02/15/28   50 49,674
Sr. Sec’d. Notes, 144A 3.000 02/15/41   110 103,105
Sr. Sec’d. Notes, 144A 3.875 04/15/30   15 16,368
Verizon Communications, Inc.,          
Sr. Unsec’d. Notes 2.650 11/20/40   10 9,281
Sr. Unsec’d. Notes 3.400 03/22/41   45 46,063
Sr. Unsec’d. Notes 4.016 12/03/29   45 50,873
Sr. Unsec’d. Notes 4.522 09/15/48   163 193,102
          820,998
Transportation 0.3%
Burlington Northern Santa Fe LLC,
Sr. Unsec’d. Notes 		3.750 04/01/24   75 81,246
CSX Corp.,          
Sr. Unsec’d. Notes 3.800 03/01/28   40 44,592
Sr. Unsec’d. Notes 3.800 04/15/50   15 16,208
Union Pacific Corp.,          
Sr. Unsec’d. Notes 3.000 04/15/27   20 21,675
Sr. Unsec’d. Notes 3.250 02/05/50   40 39,885
Sr. Unsec’d. Notes 3.600 09/15/37   10 10,871
Sr. Unsec’d. Notes 3.750 02/05/70   5 5,167
          219,644
     
 
Total Corporate Bonds
(cost $16,418,354) 		16,908,572
Municipal Bonds 0.9%
Arizona 0.1%
Salt River Project Agricultural Improvement & Power District,
Revenue Bonds, BABs 		4.839 01/01/41   35 44,721
22
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Municipal Bonds (Continued)
California 0.4%
Bay Area Toll Authority,          
Revenue Bonds, BABs, Series F2 6.263 % 04/01/49   100  $157,769
Taxable, Revenue Bonds 2.574 04/01/31   15 15,672
     
 
Los Angeles Department of Water & Power, Power System Revenue,
Revenue Bonds, BABs 		5.716 07/01/39   20 27,823
State of California,
General Obligation Unlimited, Taxable, BABs 		7.550 04/01/39   30 49,237
          250,501
Illinois 0.0%
State of Illinois,
General Obligation Unlimited, Taxable 		5.100 06/01/33   25 28,392
Michigan 0.1%
Michigan Finance Authority,
Taxable, Revenue Bonds 		3.384 12/01/40   15 15,784
University of Michigan,
Taxable, Revenue Bonds, Series B 		2.437 04/01/40   25 24,159
          39,943
New Jersey 0.2%
New Jersey Turnpike Authority,
Taxable, Revenue Bonds, BABs, Series F 		7.414 01/01/40   60 96,490
New York 0.0%
Port Authority of New York & New Jersey,
Revenue Bonds 		4.458 10/01/62   15 18,942
Ohio 0.1%
JobsOhio Beverage System,
Taxable, Revenue Bonds, Series A 		2.833 01/01/38   5 5,102
Ohio State University (The),          
Taxable, Revenue Bonds, Series A 4.048 12/01/56   12 14,856
Taxable, Revenue Bonds, Series A 4.800 06/01/2111   25 32,608
Taxable, Revenue Bonds, BABs, Series C 4.910 06/01/40   10 13,206
          65,772
23
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Municipal Bonds (Continued)
Texas 0.0%
Texas Private Activity Bond Surface Transportation Corp.,
Taxable, Revenue Bonds, Series B 		3.922 % 12/31/49   15  $16,111
     
 
Total Municipal Bonds
(cost $521,378) 		560,872
Sovereign Bonds 1.5%
Hungary Government International Bond (Hungary),
Sr. Unsec’d. Notes 		7.625 03/29/41   16 25,848
Indonesia Government International Bond (Indonesia),
Sr. Unsec’d. Notes 		3.500 01/11/28   200 216,800
Israel Government International Bond (Israel),
Sr. Unsec’d. Notes 		2.875 03/16/26   225 242,995
Mexico Government International Bond (Mexico),          
Sr. Unsec’d. Notes 4.000 10/02/23   100 108,317
Sr. Unsec’d. Notes, MTN 4.750 03/08/44   66 70,266
     
 
Philippine Government International Bond (Philippines),
Sr. Unsec’d. Notes 		7.750 01/14/31   100 146,583
Province of Quebec (Canada),
Debentures, Series NN 		7.125 02/09/24   40 47,118
Uruguay Government International Bond (Uruguay),          
Sr. Unsec’d. Notes 4.975 04/20/55   10 12,349
Sr. Unsec’d. Notes 5.100 06/18/50   55 68,797
     
 
Total Sovereign Bonds
(cost $926,703) 		939,073
U.S. Government Agency Obligations 29.2%
Federal Home Loan Bank 3.250 11/16/28   70 79,318
Federal Home Loan Mortgage Corp. 0.375 05/05/23   105 105,380
Federal Home Loan Mortgage Corp. 1.500 10/01/50   248 242,846
Federal Home Loan Mortgage Corp. 2.000 01/01/32   46 47,589
Federal Home Loan Mortgage Corp. 2.000 12/01/50   492 496,830
Federal Home Loan Mortgage Corp. 2.500 07/01/31   118 123,939
Federal Home Loan Mortgage Corp. 2.500 04/01/51   318 330,218
Federal Home Loan Mortgage Corp. 3.000 02/01/32   34 35,989
Federal Home Loan Mortgage Corp. 3.000 02/01/32   37 39,215
Federal Home Loan Mortgage Corp. 3.000 01/01/37   14 14,451
Federal Home Loan Mortgage Corp. 3.000 12/01/37   21 21,995
24
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
U.S. Government Agency Obligations (Continued)
Federal Home Loan Mortgage Corp. 3.000 % 12/01/42   113  $121,059
Federal Home Loan Mortgage Corp. 3.000 11/01/46   39 41,274
Federal Home Loan Mortgage Corp. 3.000 01/01/47   242 257,172
Federal Home Loan Mortgage Corp. 3.000 03/01/47   159 168,346
Federal Home Loan Mortgage Corp. 3.000 12/01/47   103 108,372
Federal Home Loan Mortgage Corp. 3.000 12/01/47   161 169,492
Federal Home Loan Mortgage Corp. 3.500 11/01/37   23 24,725
Federal Home Loan Mortgage Corp. 3.500 06/01/42   33 36,192
Federal Home Loan Mortgage Corp. 3.500 04/01/46   49 52,550
Federal Home Loan Mortgage Corp. 3.500 11/01/47   62 66,554
Federal Home Loan Mortgage Corp. 3.500 11/01/47   83 89,061
Federal Home Loan Mortgage Corp. 3.500 02/01/48   233 249,188
Federal Home Loan Mortgage Corp. 4.000 10/01/45   43 46,714
Federal Home Loan Mortgage Corp. 4.000 05/01/46   90 97,662
Federal Home Loan Mortgage Corp. 4.000 03/01/47   56 60,221
Federal Home Loan Mortgage Corp. 4.000 01/01/48   97 104,086
Federal Home Loan Mortgage Corp. 4.500 07/01/47   93 102,268
Federal Home Loan Mortgage Corp. 4.500 12/01/48   27 29,719
Federal Home Loan Mortgage Corp. 6.250 07/15/32   30 43,469
Federal National Mortgage Assoc. 0.500 06/17/25   50 49,675
Federal National Mortgage Assoc. 0.500 11/07/25   30 29,706
Federal National Mortgage Assoc. 0.625 04/22/25   15 14,995
Federal National Mortgage Assoc. 0.750 10/08/27   110 106,728
Federal National Mortgage Assoc. 0.875 08/05/30   50 46,682
Federal National Mortgage Assoc. 1.500 02/01/51   248 243,158
Federal National Mortgage Assoc. 2.000 07/01/40   248 253,293
Federal National Mortgage Assoc. 2.000 01/01/41   509 520,084
Federal National Mortgage Assoc. 2.000 05/01/41   487 494,155
Federal National Mortgage Assoc. 2.000 09/01/50   386 390,254
Federal National Mortgage Assoc. 2.000 12/01/50   188 190,335
Federal National Mortgage Assoc. 2.000 01/01/51   349 352,725
Federal National Mortgage Assoc. 2.500 TBA   750 776,229
Federal National Mortgage Assoc. 2.500 TBA   1,000 1,037,422
Federal National Mortgage Assoc. 2.500 02/05/24   95 100,770
Federal National Mortgage Assoc. 2.500 06/01/28   105 110,412
Federal National Mortgage Assoc. 2.500 01/01/32   111 117,101
Federal National Mortgage Assoc. 2.500 02/01/43   47 49,439
Federal National Mortgage Assoc. 2.500 09/01/46   46 47,648
Federal National Mortgage Assoc. 2.500 09/01/46   87 90,974
Federal National Mortgage Assoc. 2.500 05/01/50   235 244,183
Federal National Mortgage Assoc. 2.500 08/01/50   460 478,070
Federal National Mortgage Assoc. 2.500 10/01/50   566 588,087
25
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
U.S. Government Agency Obligations (Continued)
Federal National Mortgage Assoc. 2.500 % 04/01/51   438  $454,897
Federal National Mortgage Assoc. 3.000 11/01/28   63 67,118
Federal National Mortgage Assoc. 3.000 01/01/30   133 140,115
Federal National Mortgage Assoc. 3.000 12/01/36   43 45,654
Federal National Mortgage Assoc. 3.000 10/01/42   21 23,063
Federal National Mortgage Assoc. 3.000 02/01/43   259 277,048
Federal National Mortgage Assoc. 3.000 04/01/43   72 76,567
Federal National Mortgage Assoc. 3.000 08/01/43   198 212,032
Federal National Mortgage Assoc. 3.000 01/01/47   242 256,058
Federal National Mortgage Assoc. 3.000 02/01/47   164 173,123
Federal National Mortgage Assoc. 3.000 01/01/50   157 164,523
Federal National Mortgage Assoc. 3.500 08/01/31   39 42,266
Federal National Mortgage Assoc. 3.500 10/01/32   24 25,390
Federal National Mortgage Assoc. 3.500 06/01/33   34 36,273
Federal National Mortgage Assoc. 3.500 01/01/42   104 113,337
Federal National Mortgage Assoc. 3.500 03/01/42   99 108,167
Federal National Mortgage Assoc. 3.500 10/01/42   265 288,776
Federal National Mortgage Assoc. 3.500 11/01/42   69 75,407
Federal National Mortgage Assoc. 3.500 08/01/43   90 98,355
Federal National Mortgage Assoc. 3.500 03/01/45   151 163,424
Federal National Mortgage Assoc. 3.500 01/01/46   33 35,743
Federal National Mortgage Assoc. 3.500 12/01/46   311 333,386
Federal National Mortgage Assoc. 3.500 01/01/47   72 77,939
Federal National Mortgage Assoc. 3.500 09/01/47   109 116,929
Federal National Mortgage Assoc. 3.500 07/01/49   228 242,392
Federal National Mortgage Assoc. 4.000 01/01/41   169 186,729
Federal National Mortgage Assoc. 4.000 04/01/41   98 108,573
Federal National Mortgage Assoc. 4.000 02/01/47   135 145,791
Federal National Mortgage Assoc. 4.000 04/01/48   225 242,186
Federal National Mortgage Assoc. 4.000 12/01/48   216 231,922
Federal National Mortgage Assoc. 4.000 03/01/49   455 487,377
Federal National Mortgage Assoc. 4.500 03/01/41   99 109,989
Federal National Mortgage Assoc. 4.500 02/01/44   94 105,316
Federal National Mortgage Assoc. 4.500 01/01/45   93 104,450
Federal National Mortgage Assoc. 4.500 04/01/48   85 92,972
Federal National Mortgage Assoc. 4.500 05/01/48   22 24,152
Federal National Mortgage Assoc. 4.500 08/01/48   30 32,377
Federal National Mortgage Assoc. 4.500 02/01/49   26 28,314
Federal National Mortgage Assoc. 5.000 11/01/35   117 134,590
Federal National Mortgage Assoc. 5.000 06/01/40   26 29,127
Federal National Mortgage Assoc. 5.000 03/01/42   56 65,013
Federal National Mortgage Assoc. 6.625 11/15/30   15 21,485
26
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
U.S. Government Agency Obligations (Continued)
Government National Mortgage Assoc. 2.500 % TBA   500  $519,727
Government National Mortgage Assoc. 2.500 03/20/43   11 11,472
Government National Mortgage Assoc. 2.500 12/20/46   21 22,271
Government National Mortgage Assoc. 3.000 01/20/43   101 108,030
Government National Mortgage Assoc. 3.000 04/20/45   47 50,371
Government National Mortgage Assoc. 3.000 07/20/46   88 92,798
Government National Mortgage Assoc. 3.000 09/20/46   90 95,110
Government National Mortgage Assoc. 3.000 11/20/46   63 66,319
Government National Mortgage Assoc. 3.000 03/20/49   124 129,651
Government National Mortgage Assoc. 3.000 12/20/49   332 347,039
Government National Mortgage Assoc. 3.000 05/20/50   211 220,632
Government National Mortgage Assoc. 3.500 12/20/42   206 223,039
Government National Mortgage Assoc. 3.500 01/20/44   60 65,094
Government National Mortgage Assoc. 3.500 04/20/45   35 38,090
Government National Mortgage Assoc. 3.500 07/20/46   164 175,495
Government National Mortgage Assoc. 3.500 08/20/46   246 264,292
Government National Mortgage Assoc. 3.500 09/20/46   38 41,000
Government National Mortgage Assoc. 3.500 06/20/47   98 104,882
Government National Mortgage Assoc. 3.500 07/20/47   110 117,573
Government National Mortgage Assoc. 3.500 11/20/47   74 79,249
Government National Mortgage Assoc. 4.000 12/20/45   103 113,629
Government National Mortgage Assoc. 4.000 10/20/46   6 6,869
Government National Mortgage Assoc. 4.000 03/20/47   57 61,694
Government National Mortgage Assoc. 4.000 07/20/47   75 81,149
Government National Mortgage Assoc. 4.000 09/20/47   191 205,930
Government National Mortgage Assoc. 4.000 03/20/49   34 36,563
Government National Mortgage Assoc. 4.500 04/20/41   19 21,308
Government National Mortgage Assoc. 4.500 03/20/44   50 56,247
Government National Mortgage Assoc. 4.500 12/20/44   47 52,513
Government National Mortgage Assoc. 4.500 11/20/46   27 30,192
Government National Mortgage Assoc. 4.500 01/20/47   8 9,268
Government National Mortgage Assoc. 5.000 04/20/45   33 38,351
Government National Mortgage Assoc. 5.500 12/15/33   14 15,962
Tennessee Valley Authority, Sr. Unsec’d. Notes 0.750 05/15/25   25 25,044
     
 
Total U.S. Government Agency Obligations
(cost $18,645,761) 		19,063,217
U.S. Treasury Obligations 35.4%
U.S. Treasury Bonds 1.375 11/15/40   1,075 936,930
U.S. Treasury Bonds 1.375 08/15/50   225 180,492
U.S. Treasury Bonds 1.625 11/15/50   63 53,496
27
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
U.S. Treasury Obligations (Continued)
U.S. Treasury Bonds 1.875 % 02/15/41   135  $128,482
U.S. Treasury Bonds 2.500 02/15/46   410 427,489
U.S. Treasury Bonds 3.000 11/15/44   90 102,445
U.S. Treasury Bonds 3.000 02/15/47   890 1,017,471
U.S. Treasury Bonds 3.625 08/15/43   1,280 1,602,400
U.S. Treasury Bonds 3.750 11/15/43   375 478,184
U.S. Treasury Bonds 6.250 08/15/23   790 898,193
U.S. Treasury Notes 0.125 09/30/22   95 95,011
U.S. Treasury Notes 0.125 09/15/23   1,232 1,228,810
U.S. Treasury Notes 0.250 09/30/25   1,280 1,254,300
U.S. Treasury Notes 0.375 04/15/24   565 565,662
U.S. Treasury Notes 0.375 04/30/25   1,570 1,556,017
U.S. Treasury Notes 0.500 03/15/23   2,159 2,172,747
U.S. Treasury Notes 0.750 03/31/26   135 134,473
U.S. Treasury Notes 0.750 04/30/26   200 199,047
U.S. Treasury Notes 1.125 02/15/31   250 238,711
U.S. Treasury Notes 1.250 03/31/28   25 24,926
U.S. Treasury Notes 1.375 02/15/23   205 209,476
U.S. Treasury Notes 1.625 11/15/22   55 56,259
U.S. Treasury Notes 1.625 04/30/23   1,310 1,347,765
U.S. Treasury Notes 1.750 09/30/22   215 219,955
U.S. Treasury Notes 1.875 04/30/22   1,625 1,654,072
U.S. Treasury Notes 2.000 02/15/25   470 495,813
U.S. Treasury Notes 2.000 08/15/25   795 839,905
U.S. Treasury Notes 2.125 06/30/22   800 818,844
U.S. Treasury Notes 2.125 07/31/24   1,760 1,857,900
U.S. Treasury Notes 2.125 05/15/25   210 222,731
U.S. Treasury Notes 2.625 02/15/29   1,107 1,206,329
U.S. Treasury Notes 3.125 11/15/28   480 540,225
U.S. Treasury Strips Coupon 1.122(s) 02/15/36   35 25,501
U.S. Treasury Strips Coupon 1.225(s) 02/15/41   15 9,484
U.S. Treasury Strips Coupon 1.371(s) 05/15/42   55 33,589
U.S. Treasury Strips Coupon 1.394(s) 11/15/41   20 12,330
U.S. Treasury Strips Coupon 1.450(s) 08/15/42   15 9,068
U.S. Treasury Strips Coupon 1.463(s) 11/15/42   35 21,026
U.S. Treasury Strips Coupon 1.920(s) 02/15/29   5 4,431
U.S. Treasury Strips Coupon 2.045(s) 11/15/36   45 32,099
U.S. Treasury Strips Coupon 2.222(s) 05/15/39   115 76,044
28
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
U.S. Treasury Obligations (Continued)
U.S. Treasury Strips Coupon 2.271 %(s) 08/15/39   185  $121,753
     
 
Total U.S. Treasury Obligations
(cost $22,937,374) 		23,109,885
 
Total Long-Term Investments
(cost $63,151,936) 		64,402,587
    
      Shares  
Short-Term Investment 6.4%
Affiliated Mutual Fund           
PGIM Core Ultra Short Bond Fund
(cost $4,183,381)(wb) 		    4,183,381 4,183,381
 
TOTAL INVESTMENTS 105.2%
(cost $67,335,317) 		68,585,968
Liabilities in excess of other assets (5.2)% (3,374,672)
 
Net Assets 100.0% $65,211,296
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.
  BABs—Build America Bonds
  FHLMC—Federal Home Loan Mortgage Corporation
  GMTN—Global Medium Term Note
  LP—Limited Partnership
  MTN—Medium Term Note
  REITs—Real Estate Investment Trust
  Strips—Separate Trading of Registered Interest and Principal of Securities
  TBA—To Be Announced
    
# Principal amount is shown in U.S. dollars unless otherwise stated.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of April 30, 2021. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.
(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.
(wb) PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund.
29
PGIM Core Conservative Bond Fund
Schedule of Investments (unaudited) (continued)
as of April 30, 2021
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).
30