NPORT-EX 2 PI63240PGIMCoreUltShBdFd.htm
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Long-Term Investments 14.7%
Certificates of Deposit 7.7%
Bank of America NA, SOFR + 0.200% 0.210 %(c) 04/08/22   70,000  $69,997,065
Bank of America NA, SOFR + 0.260% 0.270(c) 01/10/22   54,000 54,000,562
Bank of Montreal, 3 Month LIBOR + 0.040% 0.228(c) 02/25/22   32,000 32,002,602
Bank of Montreal, 3 Month LIBOR + 0.110% 0.294(c) 12/13/21   60,000 60,032,823
Bank of Montreal, 3 Month LIBOR + 0.100% 0.294(c) 11/17/21   45,000 45,021,920
Bank of Nova Scotia, 3 Month LIBOR + 0.080% 0.257(c) 07/29/21   95,000 95,022,685
BNP Paribas SA, 3 Month LIBOR + 0.070% 0.262(c) 08/04/21   36,000 36,004,598
BNP Paribas SA, 1 Month LIBOR + 0.240% 0.351(c) 07/13/21   100,000 100,038,831
Canadian Imperial Bank of Commerce, 3 Month LIBOR + 0.050% 0.234(c) 09/14/21   150,000 149,957,494
Canadian Imperial Bank of Commerce, 3 Month LIBOR + 0.070% 0.266(c) 08/03/21   179,000 179,031,658
Canadian Imperial Bank of Commerce, 3 Month LIBOR + 0.160% 0.353(c) 08/06/21   50,000 50,020,435
Cooperatieve Rabobank UA, 3 Month LIBOR + 0.050% 0.252(c) 11/02/21   100,000 100,024,983
Credit Agricole Corporate & Investment Bank, 3 Month LIBOR + 0.160% 0.357(c) 07/08/21   115,000 115,035,280
Credit Industriel et Commercial, 3 Month LIBOR + 0.170% 0.347(c) 06/11/21   275,000 275,063,833
Natixis SA, 3 Month LIBOR + 0.030% 0.216(c) 01/21/22   133,000 132,971,434
Natixis SA, 3 Month LIBOR + 0.040% 0.228(c) 01/20/22   30,000 29,995,721
Natixis SA, 3 Month LIBOR + 0.150% 0.336(c) 07/21/21   50,000 50,005,812
Nordea Bank Abp, 3 Month LIBOR + 0.050% 0.238(c) 10/20/21   120,000 120,038,944
Royal Bank of Canada, 3 Month LIBOR + 0.050% 0.252(c) 08/02/21   100,000 100,012,494
Royal Bank of Canada, 3 Month LIBOR + 0.110% 0.300(c) 12/16/21   150,000 150,083,181
Royal Bank of Canada, 3 Month LIBOR + 0.140% 0.326(c) 07/30/21   100,000 100,038,652
Skandinaviska Enskilda Banken AB 0.230 05/03/22   21,000 20,999,577
Svenska Handelsbanken AB, 3 Month LIBOR + 0.120% 0.314(c) 07/06/21   174,000 174,039,562
Toronto-Dominion Bank (The), 3 Month LIBOR + 0.100% 0.282(c) 08/20/21   50,000 50,016,493
Westpac Banking Corp., 3 Month LIBOR + 0.050% 0.246(c) 08/03/21   50,000 50,008,843
     
 
Total Certificates of Deposit
(cost $2,339,003,526) 		2,339,465,482
1
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds 1.6%
Auto Manufacturers 1.5%
Toyota Motor Credit Corp.,          
Sr. Unsec’d. Notes, GMTN, SOFR + 0.220% (Cap N/A, Floor 0.000%) 0.230 %(c) 03/28/22   100,000  $100,066,000
Sr. Unsec’d. Notes, MTN, SOFR + 0.230% 0.240(c) 12/13/21   250,000 250,123,763
Sr. Unsec’d. Notes, MTN, 3 Month LIBOR + 0.060% 0.262(c) 10/01/21   100,000 99,999,778
          450,189,541
Banks 0.1%
US Bank NA,
Sr. Unsec’d. Notes, 3 Month LIBOR + 0.180% 		0.366(c) 01/21/22   28,000 28,022,680
     
 
Total Corporate Bonds
(cost $478,027,832) 		478,212,221
Municipal Bond 0.1%
Texas 
Board of Regents of the University of Texas System, Revenue Bonds, FRDD,
(cost $24,990,000) 		0.070(cc) 08/01/45   24,990 24,990,000
U.S. Government Agency Obligations 1.9%
Federal Farm Credit Bank, SOFR + 0.070% (Cap N/A, Floor 0.000%) 0.080(c) 02/17/22   25,000 25,006,281
Federal Farm Credit Bank, 1 Month LIBOR + (0.020)% (Cap N/A, Floor 0.000%) 0.096(c) 11/16/21   80,000 79,990,294
Federal Farm Credit Bank, 3 Month LIBOR + (0.090)% (Cap N/A, Floor 0.000%) 0.100(c) 12/16/21   55,000 55,000,520
Federal Farm Credit Bank, SOFR + 0.110% 0.120(c) 07/08/21   36,700 36,705,113
Federal Home Loan Bank, SOFR + 0.060% (Cap N/A, Floor 0.000%) 0.070(c) 02/11/22   26,000 26,005,411
Federal Home Loan Bank, 1 Month LIBOR + 0.000% (Cap N/A, Floor 0.000%) 0.111(c) 05/10/21   225,000 225,003,161
Federal Home Loan Bank, 1 Month LIBOR + 0.000% (Cap N/A, Floor 0.000%) 0.111(c) 09/28/21   140,000 140,026,115
     
 
Total U.S. Government Agency Obligations
(cost $587,695,901) 		587,736,895
2
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Commercial Paper 3.4%
HSBC Bank PLC,          
144A 0.444 %(c) 06/03/21   165,000,000  $165,035,726
144A 0.324(c) 10/06/21   75,000,000 75,025,477
144A 0.271(n) 02/03/22   50,000,000 49,913,975
Toronto-Dominion Bank (The),          
144A 0.324(c) 07/02/21   260,000,000 260,098,280
144A 0.274(c) 12/03/21   22,000,000 22,008,975
     
 
Svenska Handelsbanken AB,
144A 		0.208(c) 09/02/21   3,000,000 3,000,198
Canadian Imperial Bank of Commerce,
144A 		0.335(c) 01/04/22   121,000,000 121,088,451
DNB Bank ASA,          
144A 0.186(c) 01/24/22   85,000,000 84,999,999
144A 0.194(c) 01/28/22   119,500,000 119,499,999
     
 
UBS AG,
144A 		0.290(c) 11/18/21   148,000,000 148,031,380
     
 
Total Commercial Paper
(cost $1,048,399,651) 		1,048,702,460
     
 
 
Total Long-Term Investments
(cost $4,478,116,910) 		4,479,107,058
 
Short-Term Investments 86.0%
Certificates of Deposit 6.7%
Bank of America NA,          
SOFR + 0.140% 0.150(c) 05/05/21   77,000 77,000,534
SOFR + 0.150% 0.160(c) 05/03/21   90,000 90,000,000
     
 
Bank of America NA 0.230 07/06/21   140,000 140,033,547
Bank of Montreal,          
3 Month LIBOR + 0.000% 0.188(c) 07/20/21   88,000 87,968,754
3 Month LIBOR + 0.040% 0.234(c) 10/06/21   1,300 1,300,221
3 Month LIBOR + 0.050% 0.245(c) 08/10/21   2,000 2,000,373
     
 
Bank of Montreal 0.210 10/15/21   175,000 175,029,376
     
 
Bank of Nova Scotia, 3 Month LIBOR + 0.050% 0.241(c) 09/01/21   134,000 134,017,555
Canadian Imperial Bank of Commerce,          
3 Month LIBOR + 0.040% 0.213(c) 07/23/21   67,000 66,989,975
3 Month LIBOR + 0.100% 0.284(c) 12/13/21   107,000 107,033,381
     
 
Citibank NA 0.270 06/14/21   70,000 70,015,296
     
 
Citibank NA 0.270 06/14/21   91,000 91,019,885
     
 
Credit Suisse AG, SOFR + 0.300% 0.310(c) 08/06/21   96,000 96,022,390
3
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
 
Certificates of Deposit (Continued)
     
MUFG Bank Ltd. 0.230 % 11/01/21   120,000  $120,022,727
Natixis SA, 3 Month LIBOR + 0.030% 0.231(c) 11/15/21   35,000 34,998,936
Nordea Bank Abp, 3 Month LIBOR + 0.100% 0.282(c) 05/21/21   32,000 32,002,266
Norinchukin Bank 0.240 11/16/21   165,000 165,028,291
Skandinaviska Enskilda Banken AB 0.190 11/09/21   98,000 98,009,973
     
 
Skandinaviska Enskilda Banken AB 0.200 08/16/21   117,000 117,022,427
Svenska Handelsbanken AB,          
3 Month LIBOR + 0.050% 0.234(c) 10/15/21   240,000 239,983,087
3 Month LIBOR + 0.050% 0.240(c) 08/31/21   93,000 93,015,103
     
 
Total Certificates of Deposit
(cost $2,038,386,180) 		2,038,514,097
Commercial Paper 47.5%
Adventist Health System/Sunbelt Inc. 0.000 06/02/21   75,000 74,994,156
Alphabet, Inc.,
144A 		0.050(n) 05/06/21   130,000 129,999,155
Bank of America Securities, Inc.,          
144A, SOFR + 0.150% 0.160(c) 05/03/21   50,000 50,000,416
144A 0.240 05/10/21   2,250 2,250,110
     
 
Bank of Nova Scotia,
144A, 3 Month LIBOR + 0.000% 		0.191(c) 11/09/21   24,000 23,997,508
BNP Paribas SA,
144A, 3 Month LIBOR + 0.030% 		0.223(c) 02/02/22   135,000 134,997,030
BPCE SA,          
144A 0.090(n) 06/04/21   3,500 3,499,697
144A 0.190(n) 05/07/21   150,000 149,997,666
144A 0.200(n) 11/01/21   65,000 64,935,866
Caisse des Depots et Consignations,          
144A 0.120(n) 07/20/21   80,000 79,979,480
144A 0.120(n) 07/22/21   239,000 238,936,632
144A 0.135(n) 07/09/21   55,000 54,988,557
144A 0.140(n) 07/08/21   140,000 139,971,556
144A 0.160(n) 07/01/21   219,000 218,961,907
144A 0.160(n) 07/02/21   100,000 99,982,150
CDP Financial, Inc.,          
144A 0.080(n) 05/17/21   75,000 74,998,194
144A 0.082(n) 05/06/21   308,900 308,897,940
144A 0.090(n) 05/11/21   42,100 42,099,421
144A 0.110(n) 07/01/21   25,000 24,996,082
144A 0.114(n) 05/03/21   71,500 71,499,762
144A 0.120(n) 06/28/21   75,000 74,989,060
4
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
 
Commercial Paper (Continued)
CDP Financial, Inc., (cont’d.)          
144A 0.130 %(n) 07/12/21   75,000  $74,984,944
144A 0.148(n) 07/19/21   100,000 99,977,111
144A 0.200(n) 10/20/21   30,000 29,983,277
Citigroup Global Markets Inc.,          
144A 0.180(n) 11/04/21   70,000 69,936,759
144A 0.180(n) 01/10/22   60,000 59,917,975
144A 0.190(n) 12/02/21   133,500 133,355,019
144A 0.230(n) 05/07/21   47,000 46,999,452
144A 0.250(n) 07/14/21   82,000 81,980,354
144A 0.260(n) 08/11/21   54,500 54,479,885
144A 0.271(n) 09/13/21   50,000 49,972,044
144A 0.281(n) 09/01/21   75,000 74,963,317
     
 
Commonwealth Bank of Australia,
144A, 3 Month LIBOR + 1.000% 		0.205(c) 01/31/22   45,000 44,993,306
DNB Bank ASA,
144A, 3 Month LIBOR + 0.080% 		0.268(c) 07/20/21   18,000 18,003,848
Erste Abwicklungsanstalt,
144A 		0.125(n) 05/25/21   140,000 139,992,028
European Investment Bank 0.101(n) 05/14/21   804,900 804,881,536
Exxon Mobil Corp. 0.070(n) 05/04/21   115,000 114,999,412
     
 
Exxon Mobil Corp. 0.070(n) 05/07/21   100,000 99,999,028
     
 
Exxon Mobil Corp. 0.090(n) 06/01/21   75,000 74,996,600
     
 
Exxon Mobil Corp. 0.090(n) 06/02/21   100,000 99,995,325
     
 
Exxon Mobil Corp. 0.120(n) 05/11/21   87,500 87,498,797
     
 
Exxon Mobil Corp. 0.120(n) 05/17/21   125,000 124,997,461
Federation Des Caisses Desjardins,          
144A 0.050(n) 05/04/21   15,000 14,999,900
144A 0.085(n) 05/03/21   65,000 64,999,675
144A 0.095(n) 05/05/21   30,000 29,999,750
144A 0.095(n) 05/06/21   47,000 46,999,530
144A 0.110(n) 05/10/21   15,000 14,999,733
144A 0.110(n) 06/23/21   7,000 6,998,908
144A 0.145(n) 06/25/21   100,000 99,983,511
144A 0.145(n) 07/07/21   28,000 27,994,024
144A 0.147(n) 07/02/21   260,000 259,949,495
144A 0.180(n) 10/08/21   92,000 91,933,757
144A 0.180(n) 10/14/21   75,000 74,943,289
144A 0.200(n) 07/15/21   5,000 4,998,786
144A 0.200(n) 07/19/21   24,000 23,993,760
5
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
 
Commercial Paper (Continued)
Goldman Sachs International,          
144A 0.124 %(n) 07/01/21   119,000  $118,973,152
144A 0.150(n) 07/07/21   50,000 49,987,439
144A 0.170(n) 06/24/21   175,000 174,966,580
144A 0.261(n) 06/15/21   220,000 219,967,392
144A 0.301(n) 10/14/21   10,000 9,990,305
     
 
HSBC Bank PLC,
144A 		0.230(n) 10/26/21   125,000 124,875,072
Hydro-Quebec,          
144A 0.060(n) 06/29/21   15,000 14,998,500
144A 0.080(n) 05/06/21   50,000 49,999,675
144A 0.080(n) 05/19/21   10,000 9,999,752
JPMorgan Securities LLC,          
SOFR + 0.120% 0.130(c) 08/17/21   160,000 160,003,216
144A, SOFR + 0.140% 0.150(c) 01/25/22   49,000 48,988,900
144A, SOFR + 0.140% 0.150(c) 01/26/22   55,000 54,987,081
144A 0.231(n) 04/05/22   91,000 90,824,673
144A 0.250(n) 05/17/21   125,000 124,995,809
144A, 3 Month LIBOR + 0.100% 0.285(c) 06/09/21   70,000 70,006,994
     
 
JPMorgan Securities LLC 0.180(n) 09/15/21   43,000 42,975,440
     
 
JPMorgan Securities LLC 0.210(n) 10/19/21   50,000 49,960,345
KFW,          
144A 0.050(n) 06/03/21   5,000 4,999,608
144A 0.065(n) 05/12/21   120,000 119,997,760
144A 0.070(n) 05/21/21   193,000 192,992,120
144A 0.070(n) 07/06/21   91,200 91,182,687
144A 0.075(n) 05/14/21   154,000 153,996,467
144A 0.090(n) 08/03/21   18,400 18,394,562
     
 
Kingdom of Denmark 0.095(n) 06/14/21   80,000 79,994,500
     
 
Kingdom of Denmark 0.095(n) 06/15/21   100,000 99,992,972
LVMH Moet Hennessy Louis Vuitton SE,          
144A 0.000(n) 08/03/21   40,000 39,987,861
144A 0.100(n) 05/03/21   60,000 59,999,730
144A 0.130(n) 07/22/21   92,000 91,977,092
144A 0.170(n) 10/04/21   20,000 19,986,742
144A 0.170(n) 10/04/21   50,000 49,966,855
144A 0.170(n) 10/18/21   135,000 134,899,324
144A 0.170(n) 10/20/21   98,000 97,925,591
144A 0.190(n) 08/12/21   50,000 49,982,089
144A 0.230(n) 05/04/21   150,000 149,999,067
144A 0.230(n) 05/11/21   75,000 74,998,625
6
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
 
Commercial Paper (Continued)
LVMH Moet Hennessy Louis Vuitton SE, (cont’d.)          
144A 0.240 %(n) 05/06/21   70,000  $69,999,312
144A 0.240(n) 05/12/21   25,000 24,999,500
144A 0.250(n) 05/07/21   6,000 5,999,930
144A 0.250(n) 07/02/21   12,000 11,997,879
     
 
Michigan state University Board of Trustee 0.120 06/11/21   21,470 21,470,000
Mitsubishi International Corp.,          
144A 0.120(n) 06/29/21   20,000 19,996,000
144A 0.150(n) 05/03/21   43,000 42,999,642
144A 0.150(n) 07/20/21   23,000 22,993,066
144A 0.150(n) 07/21/21   25,000 24,992,313
National Securities Clearing Corp.,          
144A 0.086(n) 05/06/21   145,000 144,999,033
144A 0.090(n) 05/03/21   90,000 89,999,700
144A 0.090(n) 05/05/21   50,000 49,999,722
144A 0.090(n) 05/13/21   200,000 199,996,606
144A 0.090(n) 05/14/21   90,000 89,998,285
     
 
Natixis SA 0.200(n) 11/01/21   180,000 179,822,399
     
 
Natixis SA 0.210(n) 01/03/22   15,000 14,977,990
Nestle Finance International Ltd.,          
144A 0.040(n) 05/10/21   86,900 86,899,348
144A 0.050(n) 05/17/21   50,000 49,998,984
144A 0.050(n) 05/20/21   83,000 82,997,786
144A 0.070(n) 05/03/21   14,300 14,299,983
Nordea Bank Abp,          
144A 0.190(n) 07/15/21   66,000 65,985,231
144A 0.190(n) 08/16/21   40,000 39,984,880
     
 
Novartis Securities Investment Ltd.,
144A 		0.080(n) 06/23/21   45,060 45,056,080
OMERS Finance Trust,          
144A 0.090(n) 05/21/21   51,511 51,508,776
144A 0.100(n) 06/08/21   40,000 39,994,497
144A 0.110(n) 05/03/21   17,708 17,707,911
144A 0.110(n) 05/04/21   19,997 19,996,867
144A 0.110(n) 07/27/21   25,000 24,992,483
144A 0.120(n) 07/23/21   60,000 59,982,080
Ontario Teachers’ Finance Trust,          
144A 0.090(n) 05/19/21   50,000 49,998,759
144A 0.107(n) 06/10/21   29,000 28,998,217
     
 
Port Authority of New York and New Jersey 0.240 06/28/21   14,690 14,690,237
     
 
Port Authority of New York and New Jersey 0.270 05/03/21   9,295 9,295,046
7
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
 
Commercial Paper (Continued)
Province of Alberta,          
144A 0.120 %(n) 05/19/21   123,000  $122,995,651
144A 0.120(n) 07/14/21   84,000 83,983,375
144A 0.120(n) 07/19/21   75,000 74,983,833
144A 0.150(n) 06/24/21   78,000 77,989,514
144A 0.230(n) 07/07/21   41,000 40,992,798
144A 0.240(n) 06/02/21   20,000 19,998,515
144A 0.250(n) 06/10/21   149,750 149,735,673
144A 0.250(n) 09/09/21   50,000 49,977,266
144A 0.261(n) 09/08/21   191,000 190,913,817
     
 
Province of British Columbia 0.060(n) 05/20/21   14,000 13,999,627
     
 
Province of British Columbia 0.200(n) 05/17/21   33,000 32,999,330
     
 
Province of British Columbia 0.220(n) 06/21/21   39,500 39,496,177
     
 
Province of British Columbia 0.220(n) 07/15/21   50,000 49,991,028
PSP Capital, Inc.,          
144A 0.110(n) 07/02/21   100,000 99,984,075
144A 0.110(n) 07/19/21   50,000 49,989,222
144A 0.110(n) 07/20/21   100,000 99,978,175
144A 0.120(n) 07/14/21   35,000 34,993,073
144A 0.120(n) 08/23/21   100,000 99,962,625
144A 0.170(n) 07/13/21   20,000 19,996,094
144A 0.200(n) 06/10/21   100,000 99,991,914
144A 0.200(n) 06/23/21   150,000 149,981,100
144A 0.200(n) 10/08/21   50,000 49,969,365
144A 0.200(n) 10/19/21   50,000 49,966,795
144A 0.210(n) 07/07/21   50,000 49,991,216
     
 
Queensland Treasury Corp. 0.065(n) 05/19/21   8,440 8,439,791
     
 
Queensland Treasury Corp. 0.120(n) 07/14/21   85,000 84,988,489
     
 
Queensland Treasury Corp. 0.120(n) 07/15/21   60,000 59,991,767
     
 
Queensland Treasury Corp. 0.120(n) 08/03/21   88,000 87,983,048
Royal Bank of Canada,          
144A, 3 Month LIBOR + 0.020% 0.208(c) 01/10/22   157,000 157,013,659
144A, 3 Month LIBOR + 0.040% 0.242(c) 03/25/22   47,500 47,487,840
     
 
Sanofi SA,
144A 		0.060(n) 06/18/21   70,000 69,994,665
Skandinaviska Enskilda Banken AB,
144A 		0.200(n) 08/16/21   100,000 99,959,200
Societe Generale SA,          
144A, 3 Month LIBOR + 0.050% 0.234(c) 10/28/21   24,000 24,005,040
144A, 3 Month LIBOR + 0.050% 0.262(c) 11/01/21   170,000 170,033,660
     
 
8
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
 
Commercial Paper (Continued)
     
Standard Chartered Bank,
144A 		0.260 %(n) 07/01/21   74,000  $73,982,031
Svenska Handelsbanken AB,          
144A, 3 Month LIBOR + 0.010% 0.196(c) 01/21/22   88,000 87,995,072
144A, 3 Month LIBOR + 0.110% 0.309(c) 06/30/21   44,000 44,013,244
     
 
Texas Public Finance Authority 0.180 07/28/21   13,000 13,000,000
     
 
Texas Public Finance Authority 0.190 08/11/21   40,000 39,998,872
     
 
Texas Public Finance Authority 0.230 05/12/21   13,000 13,000,216
Total Capital Canada Ltd.,          
144A 0.110(n) 07/23/21   50,000 49,988,566
144A 0.110(n) 07/30/21   120,000 119,969,363
144A 0.130(n) 07/07/21   150,200 150,173,614
144A 0.166(n) 05/03/21   300,000 299,998,650
144A 0.170(n) 08/18/21   64,000 63,977,902
144A 0.180(n) 08/03/21   10,000 9,997,282
144A 0.180(n) 08/04/21   70,000 69,980,587
     
 
Toyota Credit Canada, Inc. 0.200(n) 10/20/21   98,000 97,883,206
Toyota Finance Australia Ltd. 0.110(n) 05/19/21   50,000 49,996,490
     
 
Toyota Finance Australia Ltd. 0.150(n) 07/07/21   46,500 46,483,751
     
 
Toyota Finance Australia Ltd. 0.150(n) 07/21/21   85,000 84,962,246
     
 
Toyota Motor Finance (Netherlands) BV, 3 Month LIBOR + 0.090% 0.280(c) 09/14/21   62,000 62,010,354
UBS AG,
144A, 3 Month LIBOR + 0.170% 		0.357(c) 07/12/21   100,000 100,009,887
Westpac Banking Corp.,          
144A, 3 Month LIBOR + 0.000% 0.184(c) 01/28/22   78,000 77,987,520
144A, 3 Month LIBOR + 0.010% 0.192(c) 08/23/21   198,800 198,833,398
144A, 3 Month LIBOR + 0.010% 0.196(c) 01/14/22   70,000 69,999,930
144A, 3 Month LIBOR + 0.020% 0.204(c) 01/10/22   75,000 74,999,998
144A, 3 Month LIBOR + 0.090% 0.280(c) 05/28/21   10,000 10,000,933
144A, 3 Month LIBOR + 0.090% 0.280(c) 05/28/21   90,000 90,008,395
     
 
Total Commercial Paper
(cost $14,441,202,518) 		14,442,085,384
9
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
 
Corporate Bonds 0.4%          
Auto Manufacturers 0.2%
Toyota Motor Credit Corp.,          
Sr. Unsec’d. Notes, 3 Month LIBOR + 0.150% 0.348%(c) 02/14/22   57,000,000  $57,017,181
Sr. Unsec’d. Notes, 3 Month LIBOR + 0.690% (Cap N/A, Floor 0.000%) 0.878%(c) 01/11/22   8,000,000 8,033,753
          65,050,934
Insurance 0.2%
Principal Life Global Funding II,
Sec’d. Notes, 144A, 3 Month LIBOR + 0.400% 		0.594%(c) 10/06/21   60,000,000 60,096,912
     
 
Total Corporate Bonds
(cost $125,195,309) 		125,147,846
Municipal Bond 0.1%          
Massachusetts 
Commonwealth of Massachusetts,
Taxable Revenue Bonds, Series C 		0.250% 06/17/21   25,000 25,003,000
Repurchase Agreements(m) 15.1%          
Amherst Pierpont Securities LLC,          
0.01%, dated 04/28/21, due 05/05/21 in the amount of $200,000,389       200,000 200,000,000
0.01%, dated 04/29/21, due 05/06/21 in the amount of $200,000,389       200,000 200,000,000
0.01%, dated 04/30/21, due 05/03/21 in the amount of $500,000,417       500,000 500,000,000
Cantor Fitzgerald & Co.,
0.01%, dated 04/30/21, due 05/03/21 in the amount of $500,000,417 		      500,000 500,000,000
CF Secured LLC,
0.01%, dated 04/30/21, due 05/03/21 in the amount of $575,000,479 		      575,000 575,000,000
Credit Agricole Corporate & Investment Bank,
0.01%, dated 04/30/21, due 05/03/21 in the amount of $144,000,120 		      144,000 144,000,000
Goldman Sachs & Co.,
0.01%, dated 04/27/21, due 05/04/21 in the amount of $200,000,389 		      200,000 200,000,000
10
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
 
Repurchase Agreements (m)(Continued)          
ING Financial Markets LLC,          
0.01%, dated 04/27/21, due 05/04/21 in the amount of $200,000,389       200,000  $200,000,000
0.025%, dated 04/28/21, due 06/11/21 in the amount of $136,004,156       136,000 136,000,000
Nomura Securities International, Inc.,
0.01%, dated 04/30/21, due 05/03/21 in the amount of $525,000,438 		      525,000 525,000,000
RBC Dominion Securities, Inc.,          
0.01%, dated 04/27/21, due 05/04/21 in the amount of $425,000,826       425,000 425,000,000
0.01%, dated 04/27/21, due 05/04/21 in the amount of $555,001,079       555,000 555,000,000
0.01%, dated 04/28/21, due 05/05/21 in the amount of $195,000,379       195,000 195,000,000
0.01%, dated 04/30/21, due 05/03/21 in the amount of $230,000,192       230,000 230,000,000
     
 
Total Repurchase Agreements
(cost $4,585,000,000) 		4,585,000,000
Sovereign Bond 0.1%
Province of Nova Scotia (Canada),
Debentures
(cost $28,000,000) 		9.125 % 05/01/21   28,000,000 28,000,000
Time Deposits 2.9%          
ABN AMRO Bank NV 0.070 05/05/21   20,000,000 20,000,000
Australia & New Zealand Banking Group Ltd. 0.180 05/18/21   112,000,000 112,000,000
Australia & New Zealand Banking Group Ltd. 0.180 07/12/21   62,000,000 62,000,000
Australia & New Zealand Banking Group Ltd. 0.190 07/07/21   123,000,000 123,000,000
Australia & New Zealand Banking Group Ltd. 0.200 07/06/21   184,000,000 184,000,000
US Bank NA 0.020 05/03/21   379,192,000 379,192,000
     
 
Total Time Deposits
(cost $880,192,000) 		880,192,000
U.S. Government Agency Obligations 0.8%          
Federal Farm Credit Bank, 1 Month LIBOR + (0.010)% (Cap N/A, Floor 0.000%) 0.100(c) 06/02/21   21,000 21,000,859
Federal Home Loan Bank, 3 Month LIBOR + (0.105)% (Cap N/A, Floor 0.000%) 0.087(c) 08/04/21   30,000 30,002,120
11
PGIM Core Ultra Short 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 Bank, 3 Month LIBOR + (0.095)% (Cap N/A, Floor 0.000%) 0.089 %(c) 09/13/21   71,545  $71,556,296
Federal Home Loan Bank, 1 Month LIBOR + (0.020)% (Cap N/A, Floor 0.000%) 0.095(c) 12/17/21   45,000 45,003,226
Federal Home Loan Bank, 3 Month LIBOR + (0.080)% (Cap N/A, Floor 0.000%) 0.096(c) 08/24/21   52,580 52,589,147
Federal Home Loan Bank, 3 Month LIBOR + 0.100% (Cap N/A, Floor 0.000%) 0.284(c) 10/28/21   37,330 37,372,277
     
 
Total U.S. Government Agency Obligations
(cost $257,517,417) 		257,523,925
U.S. Treasury Obligations(n) 12.4%          
U.S. Treasury Bills 0.000 06/29/21   154,000 153,996,342
U.S. Treasury Bills 0.010 05/06/21   315,000 314,999,868
U.S. Treasury Bills 0.011 05/18/21   274,000 273,999,573
U.S. Treasury Bills 0.012 05/27/21   51,000 50,999,941
U.S. Treasury Bills 0.013 06/22/21   875,000 874,987,846
U.S. Treasury Bills 0.016 05/04/21   307,000 306,999,979
U.S. Treasury Bills 0.018 06/01/21   142,000 141,998,855
U.S. Treasury Bills 0.022 07/01/21   150,000 149,996,927
U.S. Treasury Bills 0.028 05/25/21   700,000 699,997,858
U.S. Treasury Bills 0.085 05/20/21   472,000 471,997,772
U.S. Treasury Bills 0.087 05/11/21   324,000 323,999,579
     
 
Total U.S. Treasury Obligations
(cost $3,763,928,516) 		3,763,974,540
     
 
 
Total Short-Term Investments
(cost $26,144,421,940) 		26,145,440,792
 
TOTAL INVESTMENTS 100.7%
(cost $30,622,538,850) 		30,624,547,850
Liabilities in excess of other assets (0.7)% (210,857,499)
 
Net Assets 100.0% $30,413,690,351
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.
FHLMC Federal Home Loan Mortgage Corporation
FNMA Federal National Mortgage Association
12
PGIM Core Ultra Short Bond Fund
Schedule of Investments  (unaudited) (continued)
as of April 30, 2021
FRDD Floating Rate Daily Demand Note
GMTN Global Medium Term Note
GNMA Government National Mortgage Association
LIBOR London Interbank Offered Rate
MTN Medium Term Note
SOFR Secured Overnight Financing Rate
TVA Tennessee Valley Authority
    
# Principal amount is shown in U.S. dollars unless otherwise stated.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at April 30, 2021.
(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.
(m) Repurchase agreements are collateralized by FHLMC (coupon rates 0.000%-8.000%, maturity dates 03/15/28-04/01/51), FNMA (coupon rates 0.875%-6.000%, maturity dates 07/01/21-02/01/57), GNMA (coupon rates 2.000%-6.500%, maturity dates 03/15/23-03/20/71), TVA (coupon rates 0.000%-1.875%, maturity dates 08/15/22-09/15/36), and U.S. Treasury Securities (coupon rates 0.000%-8.125%, maturity dates 05/15/21-02/15/51), with the aggregate value, including accrued interest, of $4,676,702,923.
(n) Rate shown reflects yield to maturity at purchased date.
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).
13