NPORT-EX 2 PI62340PRU033123.htm
PSF PGIM TOTAL RETURN BOND PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Long-Term Investments — 101.4%
Asset-Backed Securities — 22.2%
Automobiles — 1.2%
AmeriCredit Automobile Receivables Trust,
Series 2020-02, Class D
2.130%   03/18/26     300   $282,320
Avis Budget Rental Car Funding AESOP LLC,
Series 2020-02A, Class A, 144A
2.020%   02/20/27     600   551,211
Series 2023-03A, Class B, 144A
6.120%   02/22/28     1,200   1,199,325
Exeter Automobile Receivables Trust,
Series 2020-03A, Class C
1.320%   07/15/25     83   82,941
Series 2020-03A, Class D
1.730%   07/15/26     200   194,251
Series 2021-02A, Class C
0.980%   06/15/26     10   9,727
Series 2021-02A, Class D
1.400%   04/15/27     20   18,595
Hertz Vehicle Financing III LLC,
Series 2022-01A, Class C, 144A
2.630%   06/25/26     200   183,072
Hertz Vehicle Financing III LP,
Series 2021-02A, Class A, 144A
1.680%   12/27/27     2,300   2,037,263
Series 2021-02A, Class B, 144A
2.120%   12/27/27     200   176,157
Hertz Vehicle Financing LLC,
Series 2021-01A, Class C, 144A
2.050%   12/26/25     100   92,810
Series 2022-02A, Class B, 144A
2.650%   06/26/28     400   352,665
JPMorgan Chase Bank, NA,
Series 2020-01, Class R, 144A
33.784%   01/25/28     728   836,097
Series 2020-02, Class D, 144A
1.487%   02/25/28     207   202,602
OneMain Direct Auto Receivables Trust,
Series 2019-01A, Class A, 144A
3.630%   09/14/27     3,500   3,398,541
Series 2019-01A, Class B, 144A
3.950%   11/14/28     800   757,228
Series 2023-01A, Class C, 144A
6.140%   02/14/31     1,300   1,309,552
Santander Bank Auto Credit-Linked Notes,
Series 2022-A, Class C, 144A
7.375%   05/15/32     487   477,486
Series 2022-C, Class E, 144A
11.366%   12/15/32     262   262,154
Santander Drive Auto Receivables Trust,
Series 2020-02, Class D
2.220%   09/15/26     400   391,139
Series 2020-03, Class D
1.640%   11/16/26     1,400   1,357,601
              14,172,737
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Debt Obligations — 0.4%
Arbor Realty Commercial Real Estate Notes Ltd. (Cayman Islands),
Series 2022-FL01, Class A, 144A, 30 Day Average SOFR + 1.450% (Cap N/A, Floor 1.450%)
6.008%(c)   01/15/37     3,000   $2,955,977
MF1 Ltd. (Cayman Islands),
Series 2022-FL08, Class A, 144A, 30 Day Average SOFR + 1.350% (Cap N/A, Floor 1.350%)
5.910%(c)   02/19/37     1,550   1,506,635
              4,462,612
Collateralized Loan Obligations — 18.8%
AlbaCore Euro CLO DAC (Ireland),
Series 04A, Class B1, 144A, 3 Month EURIBOR + 2.600% (Cap N/A, Floor 2.600%)
4.888%(c)   07/15/35   EUR 5,500   5,805,713
Ares European CLO DAC (Ireland),
Series 11A, Class A1R, 144A, 3 Month EURIBOR + 0.770% (Cap N/A, Floor 0.770%)
3.058%(c)   04/15/32   EUR 10,000   10,577,464
Atlas Static Senior Loan Fund Ltd. (Cayman Islands),
Series 2022-01A, Class A, 144A, 3 Month SOFR + 2.600% (Cap N/A, Floor 2.600%)
7.258%(c)   07/15/30     4,602   4,611,728
Bain Capital Credit CLO Ltd. (Cayman Islands),
Series 2019-02A, Class AR, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 1.100%)
5.892%(c)   10/17/32     3,500   3,430,223
Battalion CLO Ltd.,
Series 2018-12A, Class A1, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%)
5.947%(c)   05/17/31     3,000   2,962,660
Carlyle Euro CLO DAC (Ireland),
Series 2021-02A, Class A1, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%)
3.278%(c)   10/15/35   EUR 6,500   6,779,351
Series 2021-02A, Class A2B, 144A
2.100%   10/15/35   EUR 6,250   5,521,922
Carlyle Global Market Strategies Euro CLO Ltd. (Ireland),
Series 2014-02A, Class AR1, 144A, 3 Month EURIBOR + 0.750% (Cap N/A, Floor 0.750%)
3.404%(c)   11/15/31   EUR 10,000   10,547,311
Carlyle US CLO Ltd. (Cayman Islands),
Series 2017-04A, Class A1, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%)
5.972%(c)   01/15/30     4,000   3,963,584
CIFC Funding Ltd. (Cayman Islands),
Series 2013-03RA, Class A1, 144A, 3 Month LIBOR + 0.980% (Cap N/A, Floor 0.980%)
5.796%(c)   04/24/31     1,500   1,481,886
Series 2015-01A, Class ARR, 144A, 3 Month LIBOR + 1.110% (Cap N/A, Floor 1.110%)
5.925%(c)   01/22/31     3,750   3,716,067
Elevation CLO Ltd. (Cayman Islands),
Series 2014-02A, Class A1R, 144A, 3 Month SOFR + 1.492% (Cap N/A, Floor 0.000%)
6.124%(c)   10/15/29     5,456   5,426,080
A1
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Series 2017-06A, Class A1, 144A, 3 Month LIBOR + 1.280% (Cap N/A, Floor 1.280%)
6.072%(c)   07/15/29     179   $178,149
Generate CLO Ltd. (Cayman Islands),
Series 02A, Class AR, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%)
5.965%(c)   01/22/31     2,000   1,975,432
Greenwood Park CLO Ltd. (Cayman Islands),
Series 2018-01A, Class A2, 144A, 3 Month LIBOR + 1.010% (Cap N/A, Floor 0.000%)
5.802%(c)   04/15/31     6,000   5,928,748
Greywolf CLO Ltd. (Cayman Islands),
Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.290% (Cap N/A, Floor 0.000%)
5.956%(c)   04/26/31     3,500   3,460,917
Hayfin Emerald CLO DAC (Ireland),
Series 05A, Class A, 144A, 3 Month EURIBOR + 1.100% (Cap N/A, Floor 1.100%)
3.782%(c)   11/17/32   EUR 10,500   11,137,571
HPS Loan Management Ltd. (Cayman Islands),
Series 2015-06A, Class A1R, 144A, 3 Month LIBOR + 1.000% (Cap N/A, Floor 0.000%)
5.806%(c)   02/05/31     3,973   3,939,261
ICG US CLO Ltd. (Cayman Islands),
Series 2014-03A, Class A1RR, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 0.000%)
5.848%(c)   04/25/31     2,494   2,455,543
Jamestown CLO Ltd. (Cayman Islands),
Series 2019-14A, Class A1AR, 144A, 3 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%)
6.008%(c)   10/20/34     6,625   6,463,278
Series 2019-14A, Class A2R, 144A, 3 Month LIBOR + 1.750% (Cap N/A, Floor 1.750%)
6.558%(c)   10/20/34     6,750   6,472,285
Madison Park Funding Ltd. (Cayman Islands),
Series 12A, Class AR, 144A, 3 Month LIBOR + 0.830% (Cap N/A, Floor 0.000%)
5.645%(c)   04/22/27     4,862   4,826,653
Series 2019-34A, Class AR, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 1.120%)
5.938%(c)   04/25/32     2,000   1,970,099
MidOcean Credit CLO (Cayman Islands),
Series 2014-03A, Class A1R, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 1.120%)
5.935%(c)   04/21/31     9,635   9,504,315
Mountain View CLO Ltd. (Cayman Islands),
Series 2015-09A, Class A1R, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 0.000%)
5.912%(c)   07/15/31     6,000   5,916,980
OCP CLO Ltd. (Cayman Islands),
Series 2020-18A, Class AR, 144A, 3 Month LIBOR + 1.090% (Cap N/A, Floor 1.090%)
5.898%(c)   07/20/32     5,000   4,925,253
OZLM Ltd. (Cayman Islands),
Series 2015-11A, Class A1R, 144A, 3 Month LIBOR + 1.250% (Cap N/A, Floor 0.000%)
6.052%(c)   10/30/30     1,153   1,142,945
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands),
Series 2019-02A, Class A1R, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%)
5.972%(c)   10/15/34     7,000   $6,812,580
Romark WM-R Ltd. (Cayman Islands),
Series 2018-01A, Class A1, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 0.000%)
5.838%(c)   04/20/31     3,958   3,904,745
Shackleton CLO Ltd. (Cayman Islands),
Series 2014-05RA, Class A, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 0.000%)
5.934%(c)   05/07/31     4,955   4,891,784
Signal Peak CLO Ltd.,
Series 2018-05A, Class A, 144A, 3 Month LIBOR + 1.110% (Cap N/A, Floor 1.110%)
5.928%(c)   04/25/31     5,750   5,683,517
Sixth Street CLO Ltd. (Cayman Islands),
Series 2020-16A, Class A1A, 144A, 3 Month LIBOR + 1.320% (Cap N/A, Floor 1.320%)
6.128%(c)   10/20/32     12,500   12,360,810
Sound Point CLO Ltd. (Cayman Islands),
Series 2013-01A, Class A1R, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%)
5.892%(c)   01/26/31     3,500   3,459,116
TCW CLO Ltd. (Cayman Islands),
Series 2017-01A, Class A1RR, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%)
5.982%(c)   10/29/34     3,000   2,931,994
Series 2017-01A, Class BRR, 144A, 3 Month LIBOR + 1.700% (Cap N/A, Floor 1.700%)
6.502%(c)   10/29/34     4,000   3,799,281
Telos CLO Ltd. (Cayman Islands),
Series 2013-04A, Class AR, 144A, 3 Month LIBOR + 1.240% (Cap N/A, Floor 0.000%)
6.032%(c)   01/17/30     2,709   2,683,760
TICP CLO Ltd. (Cayman Islands),
Series 2017-09A, Class A, 144A, 3 Month LIBOR + 1.140% (Cap N/A, Floor 1.140%)
5.948%(c)   01/20/31     3,000   2,971,399
Toro European CLO DAC (Ireland),
Series 03A, Class ARR, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%)
3.278%(c)   07/15/34   EUR 8,000   8,363,998
Trinitas Euro CLO DAC (Ireland),
Series 02A, Class CR, 144A, 3 Month EURIBOR + 3.750% (Cap N/A, Floor 3.750%)
6.038%(c)   04/15/35   EUR 4,500   4,800,272
Venture CLO Ltd. (Cayman Islands),
Series 2018-32A, Class A1, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 1.100%)
5.895%(c)   07/18/31     300   293,915
Voya CLO Ltd. (Cayman Islands),
Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%)
5.891%(c)   04/25/31     3,000   2,964,719
 
A2
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Wellfleet CLO Ltd.,
Series 2017-03A, Class A1, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%)
5.942%(c)   01/17/31     6,500   $6,364,096
Series 2018-02A, Class A1, 144A, 3 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%)
6.008%(c)   10/20/31     2,750   2,710,179
Wind River CLO Ltd. (Cayman Islands),
Series 2016-01KRA, Class A1R2, 144A, 3 Month LIBOR + 1.210% (Cap N/A, Floor 1.210%)
6.002%(c)   10/15/34     1,750   1,708,190
              211,825,773
Consumer Loans — 0.6%
Fairstone Financial Issuance Trust (Canada),
Series 2020-01A, Class A, 144A
2.509%   10/20/39   CAD 400   281,518
Lending Funding Trust,
Series 2020-02A, Class A, 144A
2.320%   04/21/31     300   269,592
Lendmark Funding Trust,
Series 2019-02A, Class A, 144A
2.780%   04/20/28     560   550,091
Series 2021-01A, Class B, 144A
2.470%   11/20/31     100   84,976
Mariner Finance Issuance Trust,
Series 2019-AA, Class A, 144A
2.960%   07/20/32     238   235,269
Series 2020-AA, Class A, 144A
2.190%   08/21/34     500   478,513
OneMain Financial Issuance Trust,
Series 2020-01A, Class A, 144A
3.840%   05/14/32     299   297,365
Series 2020-02A, Class A, 144A
1.750%   09/14/35     1,500   1,346,155
Oportun Funding XIII LLC,
Series 2019-A, Class A, 144A
3.080%   08/08/25     781   759,813
Series 2019-A, Class D, 144A
6.220%   08/08/25     1,004   953,329
Regional Management Issuance Trust,
Series 2022-01, Class A, 144A
3.070%   03/15/32     1,200   1,124,198
              6,380,819
Credit Cards — 0.2%
Newday Funding Master Issuer PLC (United Kingdom),
Series 2021-01A, Class A1, 144A, SONIA + 0.970% (Cap N/A, Floor 0.000%)
5.040%(c)   03/15/29   GBP 300   368,523
Series 2021-02A, Class A1, 144A, SONIA + 0.800% (Cap N/A, Floor 0.000%)
4.870%(c)   07/15/29   GBP 300   366,425
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Credit Cards (cont’d.)
Newday Partnership Funding PLC (United Kingdom),
Series 2020-01A, Class A3, 144A, SONIA + 1.400% (Cap N/A, Floor 0.000%)
5.470%(c)   11/15/28   GBP 1,625   $2,001,962
              2,736,910
Home Equity Loans — 0.1%
Floating Rate Mortgage Pass-Through Certificates,
Series 2001-02, Class M3, 1 Month LIBOR + 2.925% (Cap N/A, Floor 2.925%)
7.770%(c)   10/25/31     152   141,100
Merrill Lynch Mortgage Investors Trust,
Series 2004-HE02, Class M1, 1 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%)
6.045%(c)   08/25/35     58   55,891
Morgan Stanley ABS Capital I, Inc. Trust,
Series 2003-HE03, Class M1, 1 Month LIBOR + 1.020% (Cap N/A, Floor 1.020%)
5.865%(c)   10/25/33     77   75,019
Towd Point HE Trust,
Series 2023-01, Class A1A, 144A
6.875%   02/25/63     482   489,888
              761,898
Other — 0.2%
PNMAC FMSR Issuer Trust,
Series 2018-FT01, Class A, 144A, 1 Month LIBOR + 2.350% (Cap N/A, Floor 0.000%)
6.967%(c)   04/25/23     220   218,280
TH MSR Issuer Trust,
Series 2019-FT01, Class A, 144A, 1 Month LIBOR + 2.800% (Cap N/A, Floor 2.800%)
7.645%(c)   06/25/24     2,250   2,117,047
              2,335,327
Residential Mortgage-Backed Securities — 0.4%
Argent Securities, Inc., Asset-Backed Pass-Through Certificates,
Series 2004-W010, Class A2, 1 Month LIBOR + 0.780% (Cap N/A, Floor 0.780%)
4.625%(c)   10/25/34     475   455,618
LSF11 Boson Investments Sarl Compartment 2 (Spain),
Series 2021-NPLA, Class A1, 144A, 3 Month EURIBOR + 2.000% (Cap 3.000%, Floor 0.000%)
3.898%(c)   11/25/60   EUR 791   813,613
Merrill Lynch Mortgage Investors Trust,
Series 2004-OPT01, Class A1A, 1 Month LIBOR + 0.520% (Cap N/A, Floor 0.520%)
5.365%(c)   06/25/35     37   36,846
Rathlin Residential DAC (Ireland),
Series 2021-01A, Class A, 144A, 1 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%)
4.403%(c)   09/27/75   EUR 1,189   1,232,089
TFS (Spain),
Series 2018-03, Class A1, 1 Month EURIBOR + 3.000%
5.646%(c)   04/16/23^   EUR 1,749   1,798,218
              4,336,384
 
A3
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Student Loans — 0.3%
Laurel Road Prime Student Loan Trust,
Series 2018-A, Class A, 144A
0.000%   02/25/43     2,980   $666,165
Series 2018-C, Class A, 144A
0.000%(cc)   08/25/43     736   688,457
Series 2018-D, Class A, 144A
0.000%(cc)   11/25/43     758   715,103
Series 2019-A, Class R, 144A
0.000%   10/25/48     1,319   289,618
Navient Private Education Refi Loan Trust,
Series 2020-DA, Class A, 144A
1.690%   05/15/69     31   28,111
SoFi RR Funding II Trust,
Series 2019-01, Class A, 144A, 1 Month LIBOR + 2.250% (Cap N/A, Floor 1.250%)
7.095%(c)   11/29/24     219   218,518
SoFi RR Funding III Trust,
Series 2020-01, Class A, 144A, 1 Month LIBOR + 2.250% (Cap N/A, Floor 1.250%)
7.095%(c)   11/29/24     1,104   1,102,450
              3,708,422
 
Total Asset-Backed Securities

(cost $262,731,257)
  250,720,882
Commercial Mortgage-Backed Securities —
12.2%
BANK,
Series 2017-BNK05, Class A4
3.131%   06/15/60     4,400   4,054,671
Series 2017-BNK06, Class A4
3.254%   07/15/60     920   853,994
Series 2017-BNK08, Class A3
3.229%   11/15/50     1,333   1,224,939
Series 2019-BN18, Class A3
3.325%   05/15/62     1,500   1,345,466
Series 2020-BN29, Class A3
1.742%   11/15/53     1,000   782,667
Bank of America Merrill Lynch Commercial Mortgage Trust,
Series 2016-UB10, Class A3
2.903%   07/15/49     927   862,691
Barclays Commercial Mortgage Securities Trust,
Series 2016-ETC, Class A, 144A
2.937%   08/14/36     1,170   1,020,011
Series 2016-ETC, Class B, 144A
3.189%   08/14/36     510   429,065
Series 2016-ETC, Class C, 144A
3.391%   08/14/36     430   348,834
Series 2016-ETC, Class D, 144A
3.609%(cc)   08/14/36     1,560   1,203,012
Benchmark Mortgage Trust,
Series 2019-B09, Class A4
3.751%   03/15/52     3,400   3,137,576
Series 2020-B18, Class A4
1.672%   07/15/53     2,900   2,300,694
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2020-B21, Class A4
1.704%   12/17/53     1,000   $794,240
BX Commercial Mortgage Trust,
Series 2019-XL, Class F, 144A, 1 Month SOFR + 2.114% (Cap N/A, Floor 2.114%)
6.942%(c)   10/15/36     2,125   2,052,683
Series 2019-XL, Class G, 144A, 1 Month SOFR + 2.414% (Cap N/A, Floor 2.414%)
7.242%(c)   10/15/36     1,360   1,308,577
Series 2019-XL, Class J, 144A, 1 Month SOFR + 2.764% (Cap N/A, Floor 2.764%)
7.592%(c)   10/15/36     2,975   2,843,049
Series 2021-ACNT, Class E, 144A, 1 Month LIBOR + 2.197% (Cap N/A, Floor 2.197%)
6.882%(c)   11/15/38     3,350   3,116,467
BX Trust,
Series 2022-LBA06, Class E, 144A, 1 Month SOFR + 2.700% (Cap N/A, Floor 2.700%)
7.527%(c)   01/15/39     5,000   4,561,219
Cantor Commercial Real Estate Lending,
Series 2019-CF02, Class A3
2.647%   11/15/52     7,700   7,195,021
CD Mortgage Trust,
Series 2017-CD05, Class A3
3.171%   08/15/50     3,500   3,207,611
CFK Trust,
Series 2020-MF02, Class A, 144A
2.387%   03/15/39     6,550   5,738,151
CityLine Commercial Mortgage Trust,
Series 2016-CLNE, Class B, 144A
2.778%(cc)   11/10/31     2,400   2,310,222
Series 2016-CLNE, Class C, 144A
2.778%(cc)   11/10/31     900   858,293
Cold Storage Trust,
Series 2020-ICE05, Class E, 144A, 1 Month LIBOR + 2.766% (Cap N/A, Floor 2.766%)
7.450%(c)   11/15/37     1,327   1,275,850
Commercial Mortgage Trust,
Series 2014-UBS04, Class A4
3.420%   08/10/47     3,200   3,100,645
Series 2015-DC01, Class A4
3.078%   02/10/48     5,000   4,822,298
Series 2016-COR01, Class A3
2.826%   10/10/49     2,474   2,291,191
Series 2017-COR02, Class A2
3.239%   09/10/50     3,829   3,549,520
Credit Suisse Mortgage Capital Certificates,
Series 2019-ICE04, Class E, 144A, 1 Month LIBOR + 2.150% (Cap N/A, Floor 2.150%)
6.834%(c)   05/15/36     2,594   2,509,765
CSAIL Commercial Mortgage Trust,
Series 2019-C16, Class A2
3.067%   06/15/52     1,200   1,066,147
 
A4
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
DBGS Mortgage Trust,
Series 2018-BIOD, Class G, 144A, 1 Month LIBOR + 2.500% (Cap N/A, Floor 2.500%)
7.184%(c)   05/15/35     2,990   $2,777,093
DBWF Mortgage Trust,
Series 2016-85T, Class D, 144A
3.808%(cc)   12/10/36     1,400   1,010,733
Deutsche Bank Commercial Mortgage Trust,
Series 2017-C06, Class A4
3.071%   06/10/50     2,800   2,586,737
Eleven Madison Mortgage Trust,
Series 2015-11MD, Class C, 144A
3.555%(cc)   09/10/35     3,000   2,300,940
FHLMC Multifamily Structured Pass-Through Certificates,
Series K044, Class X1, IO
0.739%(cc)   01/25/25     61,823   703,319
Series K053, Class X1, IO
0.876%(cc)   12/25/25     84,715   1,695,689
Series K055, Class X1, IO
1.344%(cc)   03/25/26     12,823   442,808
Series KG03, Class X1, IO
1.379%(cc)   06/25/30     29,230   2,209,417
GS Mortgage Securities Trust,
Series 2015-GC30, Class A3
3.119%   05/10/50     2,849   2,711,949
Series 2017-GS06, Class A2
3.164%   05/10/50     3,249   2,997,220
Series 2019-GC38, Class A3
3.703%   02/10/52     5,800   5,373,341
IMT Trust,
Series 2017-APTS, Class AFX, 144A
3.478%   06/15/34     310   299,565
JPMDB Commercial Mortgage Securities Trust,
Series 2016-C02, Class A3A
2.881%   06/15/49     1,035   973,999
Series 2017-C05, Class A4
3.414%   03/15/50     1,423   1,340,737
Series 2017-C07, Class A4
3.147%   10/15/50     3,600   3,309,543
JPMorgan Chase Commercial Mortgage Securities Trust,
Series 2016-JP02, Class A3
2.559%   08/15/49     1,639   1,514,787
Series 2018-AON, Class E, 144A
4.613%(cc)   07/05/31     5,875   2,643,750
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2013-C10, Class A3
3.952%(cc)   07/15/46     446   443,776
Morgan Stanley Capital I Trust,
Series 2017-H01, Class A4
3.259%   06/15/50     2,750   2,547,510
Series 2017-HR02, Class A3
3.330%   12/15/50     5,452   4,994,642
Series 2019-L03, Class A3
2.874%   11/15/52     1,200   1,041,423
Series 2019-MEAD, Class E, 144A
3.177%(cc)   11/10/36     575   477,967
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Shops at Crystals Trust,
Series 2016-CSTL, Class A, 144A
3.126%   07/05/36     140   $123,529
UBS Commercial Mortgage Trust,
Series 2017-C02, Class A3
3.225%   08/15/50     1,887   1,752,077
Series 2017-C07, Class A3
3.418%   12/15/50     5,200   4,848,490
Series 2018-C10, Class A3
4.048%   05/15/51     2,200   2,075,573
Series 2019-C17, Class A3
2.669%   10/15/52     2,000   1,707,590
Wells Fargo Commercial Mortgage Trust,
Series 2014-LC16, Class A4
3.548%   08/15/50     1,775   1,735,192
Series 2016-C32, Class A3
3.294%   01/15/59     1,977   1,864,351
Series 2016-C34, Class A3
2.834%   06/15/49     2,500   2,371,485
Series 2016-C35, Class A3
2.674%   07/15/48     4,067   3,750,557
Series 2017-C40, Class A3
3.317%   10/15/50     1,370   1,267,202
Series 2019-C54, Class A3
2.892%   12/15/52     1,200   1,038,901
 
Total Commercial Mortgage-Backed Securities

(cost $153,121,447)
  137,096,461
Convertible Bond — 0.0%
Telecommunications
Digicel Group Holdings Ltd. (Jamaica),
Sub. Notes, 144A, Cash coupon 7.000% or PIK N/A (original cost $10,575; purchased 3/21/2023)(f)
7.000%   04/17/23(oo)     90   10,350
(cost $10,575)        
Corporate Bonds — 34.6%
Aerospace & Defense — 0.7%
BAE Systems PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
1.900%   02/15/31     2,770   2,245,350
3.400%   04/15/30     385   353,217
Boeing Co. (The),
Sr. Unsec’d. Notes
1.875%   06/15/23     10   9,923
1.950%   02/01/24     20   19,438
2.196%   02/04/26     180   166,970
2.750%   02/01/26     90   85,268
2.850%   10/30/24     30   29,005
2.950%   02/01/30     30   26,425
3.900%   05/01/49     50   37,810
3.950%   08/01/59     1,450   1,066,157
4.508%   05/01/23     20   19,980
5.930%   05/01/60     48   47,982
6.875%   03/15/39     20   22,330
7.950%   08/15/24     50   51,820
 
A5
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Aerospace & Defense (cont’d.)
Bombardier, Inc. (Canada),
Sr. Unsec’d. Notes, 144A
7.500%   03/15/25     571   $571,000
7.500%   02/01/29     200   203,750
7.875%   04/15/27(a)     2,575   2,604,741
General Dynamics Corp.,
Gtd. Notes
1.150%   06/01/26     20   18,159
3.250%   04/01/25     10   9,735
3.500%   04/01/27     30   29,041
4.250%   04/01/40     5   4,719
L3 Technologies, Inc.,
Gtd. Notes
3.850%   06/15/23     25   24,863
L3Harris Technologies, Inc.,
Sr. Unsec’d. Notes
2.900%   12/15/29     40   35,331
4.400%   06/15/28     37   36,279
4.400%   06/15/28     15   14,763
Lockheed Martin Corp.,
Sr. Unsec’d. Notes
2.800%   06/15/50     10   7,261
4.500%   05/15/36     30   29,681
Northrop Grumman Corp.,
Sr. Unsec’d. Notes
2.930%   01/15/25     30   29,082
3.250%   01/15/28     40   38,010
5.250%   05/01/50     10   10,344
Raytheon Technologies Corp.,
Sr. Unsec’d. Notes
3.500%   03/15/27     5   4,836
              7,853,270
Agriculture — 0.8%
Altria Group, Inc.,
Gtd. Notes
2.625%   09/16/26     35   32,772
3.400%   02/04/41     50   35,379
3.700%   02/04/51     100   67,387
3.875%   09/16/46     10   7,189
4.000%   02/04/61     5   3,516
4.400%   02/14/26     43   42,655
4.800%   02/14/29     11   10,923
5.950%   02/14/49     30   28,410
BAT Capital Corp. (United Kingdom),
Gtd. Notes
2.259%   03/25/28     1,570   1,348,392
2.726%   03/25/31     10   8,113
3.462%   09/06/29     10   8,819
3.557%   08/15/27     1,500   1,394,947
4.540%   08/15/47     20   14,865
BAT International Finance PLC (United Kingdom),
Gtd. Notes
1.668%   03/25/26     145   131,848
Gtd. Notes, 144A
3.950%   06/15/25     150   145,731
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Agriculture (cont’d.)
Cargill, Inc.,
Sr. Unsec’d. Notes, 144A
0.750%   02/02/26     40   $36,295
Philip Morris International, Inc.,
Sr. Unsec’d. Notes
0.875%   05/01/26     30   26,905
1.500%   05/01/25     15   14,041
5.000%   11/17/25     10   10,085
5.125%   02/15/30     6,085   6,150,256
Reynolds American, Inc. (United Kingdom),
Gtd. Notes
4.450%   06/12/25     20   19,643
              9,538,171
Airlines — 0.5%
Air Canada (Canada),
Sr. Sec’d. Notes, 144A
3.875%   08/15/26     50   45,273
American Airlines 2016-1 Class AA Pass-Through Trust,
Pass-Through Certificates
3.575%   07/15/29     1,336   1,229,020
American Airlines 2017-2 Class AA Pass-Through Trust,
Pass-Through Certificates
3.350%   04/15/31     38   33,774
Delta Air Lines, Inc.,
Sr. Unsec’d. Notes
3.750%   10/28/29     10   8,854
3.800%   04/19/23     11   10,989
Delta Air Lines, Inc./SkyMiles IP Ltd.,
Sr. Sec’d. Notes, 144A
4.500%   10/20/25     15   14,740
4.750%   10/20/28     75   72,000
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd.,
Sr. Sec’d. Notes, 144A
6.500%   06/20/27     26   25,439
Southwest Airlines Co.,
Sr. Unsec’d. Notes
5.125%   06/15/27     3,355   3,349,534
United Airlines 2019-1 Class AA Pass-Through Trust,
Pass-Through Certificates
4.150%   02/25/33     41   37,031
United Airlines 2019-2 Class AA Pass-Through Trust,
Pass-Through Certificates
2.700%   11/01/33     53   44,649
United Airlines 2020-1 Class A Pass-Through Trust,
Pass-Through Certificates
5.875%   04/15/29     98   97,446
United Airlines 2020-1 Class B Pass-Through Trust,
Pass-Through Certificates
4.875%   07/15/27     18   17,486
United Airlines, Inc.,
Sr. Sec’d. Notes, 144A
4.375%   04/15/26     825   791,094
4.625%   04/15/29     195   176,360
              5,953,689
 
A6
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Apparel — 0.1%
Hanesbrands, Inc.,
Gtd. Notes, 144A
4.875%   05/15/26(a)     600   $568,287
Wolverine World Wide, Inc.,
Gtd. Notes, 144A
4.000%   08/15/29(a)     675   548,554
              1,116,841
Auto Manufacturers — 0.7%
BMW US Capital LLC (Germany),
Gtd. Notes, 144A
0.800%   04/01/24     40   38,425
Ford Motor Co.,
Sr. Unsec’d. Notes
3.250%   02/12/32     10   7,829
4.346%   12/08/26     20   19,483
4.750%   01/15/43     1,125   856,417
5.291%   12/08/46     290   235,257
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes
2.900%   02/16/28     275   235,905
6.950%   03/06/26     400   406,127
General Motors Co.,
Sr. Unsec’d. Notes
4.000%   04/01/25     17   16,559
5.000%   04/01/35     1,365   1,252,954
5.150%   04/01/38     1,000   903,499
5.200%   04/01/45     1,560   1,308,664
6.125%   10/01/25     40   40,699
6.600%   04/01/36     285   293,740
General Motors Financial Co., Inc.,
Gtd. Notes
3.700%   05/09/23     20   19,957
4.250%   05/15/23     50   49,897
4.300%   07/13/25     70   68,404
Jr. Sub. Notes, Series C
5.700%(ff)   09/30/30(oo)     5   4,308
Sr. Unsec’d. Notes
2.350%   01/08/31     20   15,797
2.400%   04/10/28     1,065   929,570
2.700%   08/20/27     38   34,018
2.700%   06/10/31     25   20,046
3.100%   01/12/32     20   16,302
5.100%   01/17/24     45   44,862
Hyundai Capital America,
Sr. Unsec’d. Notes, 144A
1.000%   09/17/24     30   28,127
1.800%   10/15/25     40   36,717
2.375%   10/15/27     15   13,250
2.650%   02/10/25     15   14,312
3.400%   06/20/24     40   39,100
Sr. Unsec’d. Notes, 144A, MTN
0.800%   01/08/24     60   57,870
1.800%   01/10/28     15   12,749
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Auto Manufacturers (cont’d.)
Mercedes-Benz Finance North America LLC (Germany),
Gtd. Notes, 144A
1.450%   03/02/26     150   $137,234
Nissan Motor Acceptance Co. LLC,
Sr. Unsec’d. Notes, 144A
1.050%   03/08/24     90   85,751
Sr. Unsec’d. Notes, 144A, MTN
1.850%   09/16/26     54   46,706
Toyota Motor Credit Corp.,
Sr. Unsec’d. Notes, MTN
1.150%   08/13/27     25   21,803
1.900%   04/06/28     50   44,507
2.150%   02/13/30     10   8,787
Sr. Unsec’d. Notes, MTN, SOFR Index + 0.330%
4.883%(c)   01/11/24     100   99,693
              7,465,325
Auto Parts & Equipment — 0.2%
American Axle & Manufacturing, Inc.,
Gtd. Notes
6.500%   04/01/27(a)     645   595,760
Aptiv PLC/Aptiv Corp.,
Gtd. Notes
4.150%   05/01/52     20   15,341
BorgWarner, Inc.,
Sr. Unsec’d. Notes, 144A
5.000%   10/01/25     60   59,842
Dana Financing Luxembourg Sarl,
Gtd. Notes, 144A
5.750%   04/15/25(a)     875   857,500
Dana, Inc.,
Sr. Unsec’d. Notes
5.375%   11/15/27     350   330,800
              1,859,243
Banks — 9.4%
Banco Santander SA (Spain),
Sr. Unsec’d. Notes
1.849%   03/25/26     600   537,318
Sr. Unsec’d. Notes, 3 Month LIBOR + 1.120%
5.926%(c)   04/12/23     400   399,995
Sub. Notes
2.749%   12/03/30     1,000   780,610
Bank of America Corp.,
Jr. Sub. Notes, Series JJ
5.125%(ff)   06/20/24(oo)     1,655   1,593,012
Sr. Unsec’d. Notes
1.734%(ff)   07/22/27     45   40,282
2.299%(ff)   07/21/32     20   16,116
2.572%(ff)   10/20/32     10   8,174
2.687%(ff)   04/22/32     2,565   2,141,807
3.419%(ff)   12/20/28     10   9,299
Sr. Unsec’d. Notes, GMTN
3.593%(ff)   07/21/28     740   695,696
Sr. Unsec’d. Notes, MTN
1.898%(ff)   07/23/31     50   40,086
 
A7
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
1.922%(ff)   10/24/31     20   $15,970
2.496%(ff)   02/13/31     92   77,968
2.676%(ff)   06/19/41     20   14,138
3.093%(ff)   10/01/25     50   48,148
3.824%(ff)   01/20/28     3,410   3,252,463
3.974%(ff)   02/07/30     685   641,441
4.078%(ff)   04/23/40     2,340   2,030,507
4.271%(ff)   07/23/29     945   909,535
4.330%(ff)   03/15/50     20   17,245
Sr. Unsec’d. Notes, Series N
2.651%(ff)   03/11/32     5,020   4,194,287
Sub. Notes
2.482%(ff)   09/21/36     10   7,575
Sub. Notes, MTN
4.000%   01/22/25     1,122   1,098,643
4.450%   03/03/26     1,735   1,698,925
Sub. Notes, Series L, MTN
3.950%   04/21/25     90   87,217
4.183%   11/25/27     50   48,360
Bank of New York Mellon Corp. (The),
Jr. Sub. Notes, Series H
3.700%(ff)   03/20/26(oo)     15   13,250
Barclays PLC (United Kingdom),
Sr. Unsec’d. Notes
3.650%   03/16/25     700   664,485
3.932%(ff)   05/07/25     480   467,454
Sr. Unsec’d. Notes, MTN
4.972%(ff)   05/16/29     475   458,097
BNP Paribas SA (France),
Sr. Unsec’d. Notes, 144A
1.323%(ff)   01/13/27     710   625,517
1.904%(ff)   09/30/28     2,200   1,859,002
2.871%(ff)   04/19/32     1,815   1,508,537
BPCE SA (France),
Sr. Unsec’d. Notes, 144A, MTN
3.500%   10/23/27     300   273,631
Sub. Notes, 144A, MTN
4.500%   03/15/25     1,120   1,077,104
4.875%   04/01/26(a)     380   369,801
Citigroup, Inc.,
Jr. Sub. Notes
3.875%(ff)   02/18/26(oo)     1,880   1,585,359
Jr. Sub. Notes, Series V
4.700%(ff)   01/30/25(oo)     1,445   1,267,594
Jr. Sub. Notes, Series W
4.000%(ff)   12/10/25(oo)     890   779,862
Jr. Sub. Notes, Series Y
4.150%(ff)   11/15/26(oo)     25   20,442
Sr. Unsec’d. Notes
2.520%(ff)   11/03/32     10   8,171
2.561%(ff)   05/01/32     875   724,981
2.572%(ff)   06/03/31     70   59,080
2.666%(ff)   01/29/31     1,225   1,046,508
2.976%(ff)   11/05/30     20   17,528
3.200%   10/21/26     3,255   3,072,445
3.668%(ff)   07/24/28     30   28,418
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
3.785%(ff)   03/17/33     1,160   $1,040,175
3.887%(ff)   01/10/28     1,725   1,651,250
4.075%(ff)   04/23/29     40   38,119
Sub. Notes
4.300%   11/20/26     110   106,579
4.450%   09/29/27     2,735   2,652,416
Credit Suisse Group AG (Switzerland),
Sr. Unsec’d. Notes, 144A
3.091%(ff)   05/14/32     1,695   1,362,356
6.537%(ff)   08/12/33     870   887,400
Deutsche Bank AG (Germany),
Sr. Unsec’d. Notes, EMTN
1.750%(ff)   11/19/30   EUR 100   84,866
Sr. Unsec’d. Notes, MTN
3.700%   05/30/24     159   151,456
Sub. Notes
3.742%(ff)   01/07/33     2,415   1,744,684
Discover Bank,
Sr. Unsec’d. Notes
3.450%   07/27/26     280   258,022
4.250%   03/13/26(a)     1,150   1,092,911
Goldman Sachs Group, Inc. (The),
Jr. Sub. Notes, Series U
3.650%(ff)   08/10/26(a)(oo)     950   775,954
Sr. Unsec’d. Notes
1.948%(ff)   10/21/27     50   44,652
1.992%(ff)   01/27/32     20   15,952
2.383%(ff)   07/21/32     1,480   1,203,980
2.600%   02/07/30     35   30,058
2.615%(ff)   04/22/32     4,715   3,927,448
2.650%(ff)   10/21/32     10   8,247
2.908%(ff)   07/21/42     25   17,912
3.272%(ff)   09/29/25     4,063   3,939,908
3.436%(ff)   02/24/43     35   26,960
3.500%   01/23/25     20   19,462
3.691%(ff)   06/05/28     50   47,446
3.750%   02/25/26     125   121,586
3.814%(ff)   04/23/29     1,080   1,015,928
3.850%   01/26/27     1,765   1,704,081
Sr. Unsec’d. Notes, GMTN, 3 Month LIBOR + 1.750%
6.552%(c)   10/28/27     21   21,263
Sr. Unsec’d. Notes, Series VAR
1.093%(ff)   12/09/26     85   76,074
Sub. Notes
5.150%   05/22/45     20   18,999
JPMorgan Chase & Co.,
Jr. Sub. Notes, Series FF
5.000%(ff)   08/01/24(oo)     1,025   988,016
Jr. Sub. Notes, Series HH
4.600%(ff)   02/01/25(oo)     1,940   1,812,226
Jr. Sub. Notes, Series II
4.000%(ff)   04/01/25(a)(oo)     1,350   1,200,650
Jr. Sub. Notes, Series KK
3.650%(ff)   06/01/26(a)(oo)     1,860   1,624,103
Sr. Unsec’d. Notes
0.563%(ff)   02/16/25     20   19,191
 
A8
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
1.045%(ff)   11/19/26     20   $17,882
1.578%(ff)   04/22/27     785   705,201
1.953%(ff)   02/04/32     130   104,592
2.301%(ff)   10/15/25     5   4,780
2.525%(ff)   11/19/41     2,330   1,630,767
2.545%(ff)   11/08/32     1,135   942,158
2.580%(ff)   04/22/32     1,775   1,495,135
2.947%(ff)   02/24/28     905   839,679
2.950%   10/01/26     1,285   1,214,421
3.782%(ff)   02/01/28     1,235   1,181,939
3.897%(ff)   01/23/49     10   8,187
3.960%(ff)   01/29/27     930   902,415
3.964%(ff)   11/15/48     985   816,445
4.005%(ff)   04/23/29     1,200   1,146,710
4.203%(ff)   07/23/29     50   48,287
4.323%(ff)   04/26/28(a)     695   678,895
4.452%(ff)   12/05/29     17   16,514
Sub. Notes
2.956%(ff)   05/13/31     155   133,480
4.125%   12/15/26     40   39,059
4.250%   10/01/27     420   412,042
Mitsubishi UFJ Financial Group, Inc. (Japan),
Sr. Unsec’d. Notes
3.407%   03/07/24     45   44,107
Morgan Stanley,
Sr. Unsec’d. Notes
3.217%(ff)   04/22/42     10   7,721
Sr. Unsec’d. Notes, GMTN
1.512%(ff)   07/20/27     15   13,311
2.239%(ff)   07/21/32     4,303   3,461,301
2.699%(ff)   01/22/31     35   30,132
3.772%(ff)   01/24/29     2,010   1,904,501
4.431%(ff)   01/23/30     1,340   1,289,748
Sr. Unsec’d. Notes, MTN
1.794%(ff)   02/13/32     1,015   796,952
1.928%(ff)   04/28/32     193   152,606
2.511%(ff)   10/20/32     1,590   1,301,423
2.943%(ff)   01/21/33     1,470   1,245,934
3.125%   07/27/26(a)     2,725   2,582,225
Sr. Unsec’d. Notes, MTN, SOFR + 0.455%
5.108%(c)   01/25/24     20   19,937
Sub. Notes
2.484%(ff)   09/16/36     20   15,126
Sub. Notes, GMTN
4.350%   09/08/26     756   737,520
NatWest Group PLC (United Kingdom),
Sr. Unsec’d. Notes
2.359%(ff)   05/22/24     200   198,965
PNC Financial Services Group, Inc. (The),
Sr. Unsec’d. Notes
2.200%   11/01/24     21   19,968
Societe Generale SA (France),
Sr. Unsec’d. Notes, 144A
2.797%(ff)   01/19/28     2,210   1,950,499
2.889%(ff)   06/09/32     250   195,751
3.337%(ff)   01/21/33     1,330   1,063,974
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
Standard Chartered PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
2.819%(ff)   01/30/26     25   $23,520
Sumitomo Mitsui Financial Group, Inc. (Japan),
Sr. Unsec’d. Notes
3.364%   07/12/27     50   47,209
Sr. Unsec’d. Notes, 3 Month LIBOR + 0.860%
5.658%(c)   07/19/23     20   19,972
Texas Capital Bank NA,
Sr. Unsec’d. Notes, 144A, 3 Month LIBOR + 4.500%
9.659%(c)   09/30/24     3,340   3,240,126
U.S. Bancorp,
Jr. Sub. Notes
3.700%(ff)   01/15/27(oo)     30   23,405
Jr. Sub. Notes, Series J
5.300%(ff)   04/15/27(oo)     25   21,420
UniCredit SpA (Italy),
Sr. Unsec’d. Notes, 144A
2.569%(ff)   09/22/26     685   619,636
3.127%(ff)   06/03/32     1,225   956,623
Wells Fargo & Co.,
Sr. Unsec’d. Notes
3.068%(ff)   04/30/41     2,690   2,004,810
Sr. Unsec’d. Notes, MTN
2.393%(ff)   06/02/28     60   53,952
2.572%(ff)   02/11/31     3,525   2,990,804
5.013%(ff)   04/04/51     20   18,820
Sub. Notes, MTN
4.100%   06/03/26     20   19,368
              105,472,367
Beverages — 0.3%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium),
Gtd. Notes
4.700%   02/01/36     31   30,791
4.900%   02/01/46     3,612   3,503,596
Anheuser-Busch InBev Worldwide, Inc. (Belgium),
Gtd. Notes
3.500%   06/01/30     30   28,298
4.600%   04/15/48     8   7,578
4.750%   01/23/29     118   120,427
Coca-Cola Co. (The),
Sr. Unsec’d. Notes
1.375%   03/15/31     10   8,156
1.650%   06/01/30     10   8,463
Constellation Brands, Inc.,
Sr. Unsec’d. Notes
2.875%   05/01/30     70   61,363
              3,768,672
Biotechnology — 0.3%
Amgen, Inc.,
Sr. Unsec’d. Notes
2.000%   01/15/32     10   8,146
2.250%   08/19/23     30   29,630
 
A9
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Biotechnology (cont’d.)
2.770%   09/01/53     19   $12,147
3.150%   02/21/40     20   15,686
5.150%   11/15/41     16   15,572
5.600%   03/02/43     2,950   3,041,793
Baxalta, Inc.,
Gtd. Notes
4.000%   06/23/25     75   73,425
Gilead Sciences, Inc.,
Sr. Unsec’d. Notes
2.800%   10/01/50     10   6,913
2.950%   03/01/27     7   6,664
4.750%   03/01/46     10   9,608
              3,219,584
Building Materials — 0.2%
Carrier Global Corp.,
Sr. Unsec’d. Notes
2.242%   02/15/25     5   4,773
2.493%   02/15/27     5   4,637
2.722%   02/15/30     45   39,526
Johnson Controls International PLC/Tyco Fire & Security Finance SCA,
Sr. Unsec’d. Notes
1.750%   09/15/30     20   16,410
Martin Marietta Materials, Inc.,
Sr. Unsec’d. Notes
2.400%   07/15/31     15   12,305
Masonite International Corp.,
Gtd. Notes, 144A
5.375%   02/01/28     475   453,625
Owens Corning,
Sr. Unsec’d. Notes
3.950%   08/15/29     40   37,702
4.300%   07/15/47     20   16,500
Smyrna Ready Mix Concrete LLC,
Sr. Sec’d. Notes, 144A
6.000%   11/01/28     1,275   1,196,189
Vulcan Materials Co.,
Sr. Unsec’d. Notes
3.500%   06/01/30     15   13,740
              1,795,407
Chemicals — 0.7%
Ashland LLC,
Gtd. Notes
6.875%   05/15/43     1,400   1,406,621
Ashland Services BV,
Gtd. Notes
2.000%   01/30/28   EUR 1,600   1,490,051
CF Industries, Inc.,
Gtd. Notes
4.950%   06/01/43     675   577,543
Dow Chemical Co. (The),
Sr. Unsec’d. Notes
3.600%   11/15/50     5   3,739
6.900%   05/15/53     25   28,934
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Chemicals (cont’d.)
LYB International Finance III LLC,
Gtd. Notes
1.250%   10/01/25     35   $31,733
3.375%   10/01/40     60   44,440
4.200%   10/15/49     5   3,908
Mosaic Co. (The),
Sr. Unsec’d. Notes
5.625%   11/15/43     155   150,960
NOVA Chemicals Corp. (Canada),
Sr. Unsec’d. Notes, 144A
4.875%   06/01/24     1,150   1,131,520
Nutrien Ltd. (Canada),
Sr. Unsec’d. Notes
4.900%   06/01/43     870   798,185
5.250%   01/15/45     305   290,273
Sasol Financing USA LLC (South Africa),
Gtd. Notes
4.375%   09/18/26(a)     460   416,754
5.875%   03/27/24     375   370,500
Sherwin-Williams Co. (The),
Sr. Unsec’d. Notes
2.300%   05/15/30     20   16,971
3.125%   06/01/24     14   13,688
3.450%   08/01/25     449   435,313
TPC Group, Inc.,
Sr. Sec’d. Notes, 144A
13.000%   12/16/27     194   198,611
Yara International ASA (Brazil),
Sr. Unsec’d. Notes, 144A
4.750%   06/01/28     40   38,108
              7,447,852
Commercial Services — 0.8%
Allied Universal Holdco LLC/Allied Universal Finance Corp.,
Sr. Sec’d. Notes, 144A
6.625%   07/15/26     600   576,259
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl,
Sr. Sec’d. Notes, 144A
4.625%   06/01/28     1,300   1,092,000
ERAC USA Finance LLC,
Gtd. Notes, 144A
4.200%   11/01/46     50   42,338
6.700%   06/01/34     920   1,044,748
7.000%   10/15/37     770   909,903
Gartner, Inc.,
Gtd. Notes, 144A
4.500%   07/01/28     230   218,293
Global Payments, Inc.,
Sr. Unsec’d. Notes
1.200%   03/01/26     145   129,105
2.650%   02/15/25     40   38,068
3.200%   08/15/29     30   26,425
Nexi SpA (Italy),
Sr. Unsec’d. Notes
2.125%   04/30/29   EUR 2,640   2,339,121
 
A10
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Commercial Services (cont’d.)
S&P Global, Inc.,
Gtd. Notes
4.250%   05/01/29     60   $59,169
United Rentals North America, Inc.,
Gtd. Notes
3.750%   01/15/32     50   43,029
3.875%   02/15/31(a)     392   345,853
4.875%   01/15/28(a)     1,325   1,267,017
5.250%   01/15/30     525   505,010
              8,636,338
Computers — 0.1%
Apple, Inc.,
Sr. Unsec’d. Notes
0.700%   02/08/26     40   36,392
1.200%   02/08/28     100   87,924
1.400%   08/05/28     29   25,415
1.650%   02/08/31     55   45,968
2.375%   02/08/41     40   29,971
2.650%   05/11/50     15   10,603
2.650%   02/08/51     15   10,519
2.700%   08/05/51     5   3,521
2.800%   02/08/61     100   68,115
2.950%   09/11/49     25   18,893
3.350%   02/09/27     70   68,333
3.850%   08/04/46     15   13,377
Genpact Luxembourg Sarl,
Gtd. Notes
3.375%   12/01/24     90   86,459
HP, Inc.,
Sr. Unsec’d. Notes
1.450%   06/17/26     100   89,996
NetApp, Inc.,
Sr. Unsec’d. Notes
3.300%   09/29/24     40   38,916
Seagate HDD Cayman,
Gtd. Notes
4.875%   06/01/27     40   37,600
              672,002
Distribution/Wholesale — 0.0%
Ritchie Bros Holdings, Inc. (Canada),
Sr. Sec’d. Notes, 144A
6.750%   03/15/28     75   77,237
Diversified Financial Services — 0.4%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland),
Gtd. Notes
3.000%   10/29/28     150   130,461
3.400%   10/29/33     150   121,707
Air Lease Corp.,
Sr. Unsec’d. Notes
1.875%   08/15/26     56   49,712
3.375%   07/01/25     15   14,261
Sr. Unsec’d. Notes, MTN
2.300%   02/01/25     20   18,942
2.875%   01/15/26     15   13,984
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Diversified Financial Services (cont’d.)
4.250%   02/01/24     10   $9,837
Ally Financial, Inc.,
Sub. Notes
5.750%   11/20/25     25   23,500
American Express Co.,
Jr. Sub. Notes
3.550%(ff)   09/15/26(oo)     10   8,433
Avolon Holdings Funding Ltd. (Ireland),
Gtd. Notes, 144A
2.528%   11/18/27     23   19,464
2.875%   02/15/25     10   9,388
3.950%   07/01/24     10   9,737
Sr. Unsec’d. Notes, 144A
2.750%   02/21/28     30   25,052
Blackstone Private Credit Fund,
Sr. Sec’d. Notes
5.610%   05/03/27^     1,100   999,662
Cantor Fitzgerald LP,
Sr. Unsec’d. Notes, 144A
4.875%   05/01/24     50   48,643
Capital One Financial Corp.,
Sr. Unsec’d. Notes
3.800%   01/31/28     5   4,585
Sub. Notes
2.359%(ff)   07/29/32     45   32,126
Charles Schwab Corp. (The),
Jr. Sub. Notes, Series H
4.000%(ff)   12/01/30(oo)     20   15,751
Jr. Sub. Notes, Series I
4.000%(ff)   06/01/26(oo)     35   28,767
Credit Acceptance Corp.,
Gtd. Notes, 144A
5.125%   12/31/24     15   14,244
GTP Acquisition Partners I LLC,
Sr. Sec’d. Notes, 144A
3.482%   06/15/50     100   95,643
Jefferies Financial Group, Inc.,
Sr. Unsec’d. Notes
6.500%   01/20/43     555   563,658
Mastercard, Inc.,
Sr. Unsec’d. Notes
1.900%   03/15/31     15   12,725
3.300%   03/26/27     10   9,686
3.850%   03/26/50     20   17,770
Nationstar Mortgage Holdings, Inc.,
Gtd. Notes, 144A
5.125%   12/15/30     75   57,652
5.500%   08/15/28     805   690,247
6.000%   01/15/27     275   249,987
Nomura Holdings, Inc. (Japan),
Sr. Unsec’d. Notes
2.608%   07/14/31     515   403,937
OneMain Finance Corp.,
Gtd. Notes
3.875%   09/15/28     575   454,880
 
A11
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Diversified Financial Services (cont’d.)
Power Finance Corp. Ltd. (India),
Sr. Unsec’d. Notes, 144A, MTN
6.150%   12/06/28     400   $412,772
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.,
Gtd. Notes, 144A
2.875%   10/15/26     10   8,914
Synchrony Financial,
Sr. Unsec’d. Notes
3.950%   12/01/27     40   33,931
Visa, Inc.,
Sr. Unsec’d. Notes
1.100%   02/15/31     10   7,985
2.050%   04/15/30     10   8,730
4.300%   12/14/45     20   19,277
              4,646,050
Electric — 2.9%
AEP Transmission Co. LLC,
Sr. Unsec’d. Notes
3.750%   12/01/47     100   82,547
AES Corp. (The),
Sr. Unsec’d. Notes
1.375%   01/15/26     35   31,457
2.450%   01/15/31     15   12,234
Sr. Unsec’d. Notes, 144A
3.300%   07/15/25     45   42,607
3.950%   07/15/30     5   4,519
Alliant Energy Finance LLC,
Gtd. Notes, 144A
3.750%   06/15/23     10   9,950
Ameren Illinois Co.,
First Mortgage
4.500%   03/15/49     40   37,282
American Electric Power Co., Inc.,
Sr. Unsec’d. Notes, Series J
4.300%   12/01/28     45   43,950
American Transmission Systems, Inc.,
Sr. Unsec’d. Notes, 144A
2.650%   01/15/32     10   8,418
Arizona Public Service Co.,
Sr. Unsec’d. Notes
2.200%   12/15/31     25   19,866
Atlantic City Electric Co.,
First Mortgage
2.300%   03/15/31     25   21,095
Avangrid, Inc.,
Sr. Unsec’d. Notes
3.800%   06/01/29     10   9,396
Baltimore Gas & Electric Co.,
Sr. Unsec’d. Notes
2.250%   06/15/31     5   4,211
3.350%   07/01/23     550   546,971
Berkshire Hathaway Energy Co.,
Sr. Unsec’d. Notes
4.050%   04/15/25     35   34,830
4.250%   10/15/50     20   17,253
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Calpine Corp.,
Sr. Unsec’d. Notes, 144A
4.625%   02/01/29     600   $519,628
5.000%   02/01/31     750   635,446
5.125%   03/15/28(a)     1,700   1,556,923
CenterPoint Energy, Inc.,
Sr. Unsec’d. Notes
2.950%   03/01/30     36   31,553
CMS Energy Corp.,
Sr. Unsec’d. Notes
3.000%   05/15/26     20   18,978
Comision Federal de Electricidad (Mexico),
Gtd. Notes, 144A
4.688%   05/15/29     1,325   1,178,256
Consolidated Edison Co. of New York, Inc.,
Sr. Unsec’d. Notes
4.500%   12/01/45     10   8,957
Sr. Unsec’d. Notes, Series C
3.000%   12/01/60     20   13,124
4.300%   12/01/56     235   197,314
Constellation Energy Generation LLC,
Sr. Unsec’d. Notes
3.250%   06/01/25     20   19,301
Consumers Energy Co.,
First Mortgage
2.500%   05/01/60     5   2,926
Dominion Energy South Carolina, Inc.,
First Mortgage
4.600%   06/15/43     2,025   1,869,198
Dominion Energy, Inc.,
Jr. Sub. Notes
3.071%   08/15/24     5   4,860
Sr. Unsec’d. Notes
3.900%   10/01/25     15   14,656
Sr. Unsec’d. Notes, Series C
3.375%   04/01/30     10   9,063
DPL, Inc.,
Sr. Unsec’d. Notes
4.125%   07/01/25     10   9,555
DTE Electric Co.,
First Mortgage, Series C
2.625%   03/01/31     10   8,651
Duke Energy Carolinas LLC,
First Mortgage
3.950%   11/15/28     40   39,233
Duke Energy Corp.,
Sr. Unsec’d. Notes
2.450%   06/01/30     5   4,261
Duke Energy Florida LLC,
First Mortgage
1.750%   06/15/30     50   41,226
2.500%   12/01/29     75   66,129
3.850%   11/15/42     25   21,014
Duke Energy Indiana LLC,
First Mortgage
2.750%   04/01/50     10   6,615
 
A12
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Duke Energy Ohio, Inc.,
First Mortgage
2.125%   06/01/30     30   $25,162
Duke Energy Progress LLC,
First Mortgage
3.450%   03/15/29     45   42,086
Edison International,
Jr. Sub. Notes, Series A
5.375%(ff)   03/15/26(oo)     10   8,872
Jr. Sub. Notes, Series B
5.000%(ff)   12/15/26(oo)     20   16,594
Sr. Unsec’d. Notes
3.550%   11/15/24     85   82,550
4.950%   04/15/25     5   4,967
El Paso Electric Co.,
Sr. Unsec’d. Notes
6.000%   05/15/35     2,325   2,416,964
Emera US Finance LP (Canada),
Gtd. Notes
0.833%   06/15/24     20   18,886
Entergy Corp.,
Sr. Unsec’d. Notes
0.900%   09/15/25     10   9,017
2.400%   06/15/31     48   39,757
2.800%   06/15/30     10   8,660
Entergy Louisiana LLC,
First Mortgage
2.350%   06/15/32     120   98,730
Entergy Texas, Inc.,
First Mortgage
3.550%   09/30/49     25   18,975
Eskom Holdings SOC Ltd. (South Africa),
Sr. Unsec’d. Notes, 144A
7.125%   02/11/25     390   381,298
Eversource Energy,
Sr. Unsec’d. Notes, Series M
3.300%   01/15/28     40   37,584
Sr. Unsec’d. Notes, Series U
1.400%   08/15/26     20   17,916
Exelon Corp.,
Sr. Unsec’d. Notes
3.400%   04/15/26     5   4,808
3.950%   06/15/25     35   34,261
4.050%   04/15/30     25   23,836
FirstEnergy Corp.,
Sr. Unsec’d. Notes, Series C
5.100%   07/15/47     4   3,592
FirstEnergy Transmission LLC,
Sr. Unsec’d. Notes, 144A
4.350%   01/15/25     3,771   3,711,361
5.450%   07/15/44     280   268,745
Florida Power & Light Co.,
First Mortgage
2.875%   12/04/51     5   3,520
3.150%   10/01/49     36   27,094
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Georgia Power Co.,
Sr. Unsec’d. Notes, Series B
2.650%   09/15/29     95   $83,627
Iberdrola International BV (Spain),
Gtd. Notes
6.750%   09/15/33     1,150   1,236,805
Interstate Power & Light Co.,
Sr. Unsec’d. Notes
3.250%   12/01/24     20   19,423
3.600%   04/01/29     50   46,725
Israel Electric Corp. Ltd. (Israel),
Sr. Sec’d. Notes, 144A, GMTN
4.250%   08/14/28     680   636,565
Jersey Central Power & Light Co.,
Sr. Unsec’d. Notes, 144A
4.700%   04/01/24     50   49,694
Kentucky Utilities Co.,
First Mortgage
4.375%   10/01/45     3,050   2,616,153
MidAmerican Energy Co.,
First Mortgage
3.150%   04/15/50     5   3,681
3.650%   04/15/29     20   19,110
3.650%   08/01/48     20   16,200
Narragansett Electric Co. (The),
Sr. Unsec’d. Notes, 144A
3.395%   04/09/30(a)     1,050   962,376
NextEra Energy Capital Holdings, Inc.,
Gtd. Notes
1.900%   06/15/28     15   13,195
2.250%   06/01/30     20   16,905
2.440%   01/15/32     11   9,121
3.000%   01/15/52     58   39,201
Northern States Power Co.,
First Mortgage
2.250%   04/01/31     10   8,480
2.600%   06/01/51     5   3,313
3.600%   09/15/47     10   8,090
NRG Energy, Inc.,
Gtd. Notes, 144A
3.625%   02/15/31     100   81,063
3.875%   02/15/32     325   260,189
5.250%   06/15/29     375   346,161
Jr. Sub. Notes, 144A
10.250%(ff)   03/15/28(oo)     225   214,429
Sr. Sec’d. Notes, 144A
2.000%   12/02/25     285   256,644
2.450%   12/02/27     1,245   1,068,095
3.750%   06/15/24     50   48,476
Ohio Power Co.,
Sr. Unsec’d. Notes, Series P
2.600%   04/01/30     25   21,745
Sr. Unsec’d. Notes, Series Q
1.625%   01/15/31     5   3,983
Sr. Unsec’d. Notes, Series R
2.900%   10/01/51     5   3,401
 
A13
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Oncor Electric Delivery Co. LLC,
Sr. Sec’d. Notes
3.700%   11/15/28     40   $38,794
3.800%   06/01/49     6   4,989
Pacific Gas & Electric Co.,
First Mortgage
2.100%   08/01/27     10   8,719
3.250%   06/15/23     25   24,856
3.450%   07/01/25     13   12,408
3.750%   08/15/42     50   35,740
3.850%   11/15/23     40   39,502
4.000%   12/01/46     15   10,527
4.450%   04/15/42     5   3,921
4.550%   07/01/30     1,748   1,634,241
4.750%   02/15/44     75   60,784
6.700%   04/01/53     535   550,903
PacifiCorp,
First Mortgage
3.300%   03/15/51     390   288,549
PECO Energy Co.,
First Mortgage
2.800%   06/15/50     25   17,003
Perusahaan Listrik Negara PT (Indonesia),
Sr. Unsec’d. Notes, 144A
1.875%   11/05/31   EUR 324   260,964
PG&E Energy Recovery Funding LLC,
Sr. Sec’d. Notes, Series A-3
2.822%   07/15/48     20   14,574
Progress Energy, Inc.,
Sr. Unsec’d. Notes
7.000%   10/30/31     90   100,049
Public Service Co. of Colorado,
First Mortgage, Series 34
3.200%   03/01/50     5   3,702
Public Service Electric & Gas Co.,
First Mortgage, MTN
2.050%   08/01/50     45   26,538
Public Service Enterprise Group, Inc.,
Sr. Unsec’d. Notes
1.600%   08/15/30     35   28,003
Rochester Gas & Electric Corp.,
First Mortgage, 144A
3.100%   06/01/27     45   42,200
San Diego Gas & Electric Co.,
First Mortgage
4.150%   05/15/48     20   17,396
5.350%   05/15/35     40   40,985
First Mortgage, Series WWW
2.950%   08/15/51     5   3,481
Sr. Sec’d. Notes, Series VVV
1.700%   10/01/30     10   8,167
Sempra Energy,
Sr. Unsec’d. Notes
3.400%   02/01/28     35   32,946
4.000%   02/01/48     5   4,074
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Sierra Pacific Power Co.,
General Ref. Mortgage
2.600%   05/01/26     20   $18,865
Southern California Edison Co.,
First Mortgage
1.100%   04/01/24     135   129,727
2.250%   06/01/30     35   29,737
2.850%   08/01/29     40   35,805
3.650%   02/01/50     25   19,272
First Mortgage, SOFR Index + 0.640%
5.141%(c)   04/03/23     40   40,000
First Mortgage, Series 20A
2.950%   02/01/51     5   3,351
First Mortgage, Series A
4.200%   03/01/29     20   19,381
First Mortgage, Series G
2.500%   06/01/31     10   8,495
First Mortgage, Series H
3.650%   06/01/51     5   3,852
First Ref. Mortgage
5.500%   03/15/40     10   10,059
First Ref. Mortgage, Series C
4.125%   03/01/48     50   41,344
Southwestern Public Service Co.,
First Mortgage
3.750%   06/15/49     30   23,585
Tampa Electric Co.,
Sr. Unsec’d. Notes
3.450%   03/15/51     40   29,614
Toledo Edison Co. (The),
First Mortgage, 144A
2.650%   05/01/28     10   8,863
Trans-Allegheny Interstate Line Co.,
Sr. Unsec’d. Notes, 144A
3.850%   06/01/25     100   97,309
Tucson Electric Power Co.,
Sr. Unsec’d. Notes
4.000%   06/15/50     1,500   1,220,143
Virginia Electric & Power Co.,
Sr. Unsec’d. Notes
4.450%   02/15/44     15   13,297
Vistra Corp.,
Jr. Sub. Notes, 144A
7.000%(ff)   12/15/26(oo)     625   552,125
8.000%(ff)   10/15/26(oo)     2,075   1,943,384
Vistra Operations Co. LLC,
Gtd. Notes, 144A
5.000%   07/31/27     450   425,286
5.625%   02/15/27(a)     600   584,540
Sr. Sec’d. Notes, 144A
3.550%   07/15/24     130   125,574
3.700%   01/30/27     2,000   1,848,209
              33,147,370
 
A14
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electrical Components & Equipment — 0.1%
WESCO Distribution, Inc.,
Gtd. Notes, 144A
7.125%   06/15/25     575   $584,670
7.250%   06/15/28(a)     550   565,208
              1,149,878
Electronics — 0.1%
Agilent Technologies, Inc.,
Sr. Unsec’d. Notes
2.300%   03/12/31     45   37,650
Honeywell International, Inc.,
Sr. Unsec’d. Notes
1.100%   03/01/27     20   17,961
1.950%   06/01/30     30   25,656
Sensata Technologies BV,
Gtd. Notes, 144A
5.000%   10/01/25     1,000   989,950
TD SYNNEX Corp.,
Sr. Unsec’d. Notes
1.250%   08/09/24     30   28,061
Sr. Unsec’d. Notes, Sr. Unsec’d. Notes
2.650%   08/09/31     25   19,590
              1,118,868
Engineering & Construction — 0.4%
Cellnex Telecom SA (Spain),
Sr. Unsec’d. Notes, EMTN
1.750%   10/23/30   EUR 2,800   2,417,064
GMR Hyderabad International Airport Ltd. (India),
Sr. Sec’d. Notes, 144A
4.250%   10/27/27(a)     345   300,009
Mexico City Airport Trust (Mexico),
Sr. Sec’d. Notes, 144A
4.250%   10/31/26     605   577,397
5.500%   07/31/47     1,690   1,290,822
              4,585,292
Entertainment — 0.5%
AMC Entertainment Holdings, Inc.,
Sec’d. Notes, 144A, Cash coupon 10.000% or PIK 12.000% or Cash coupon 5.000% and PIK 6.000%
10.000%   06/15/26     316   200,648
Caesars Entertainment, Inc.,
Sr. Sec’d. Notes, 144A
6.250%   07/01/25     860   860,269
7.000%   02/15/30     400   406,922
Golden Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
7.625%   04/15/26     875   881,293
Penn Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
5.625%   01/15/27     800   751,120
Warnermedia Holdings, Inc.,
Gtd. Notes, 144A
3.528%   03/15/24     20   19,553
5.050%   03/15/42     1,065   890,502
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Entertainment (cont’d.)
5.141%   03/15/52     1,015   $823,449
5.391%   03/15/62     485   392,003
              5,225,759
Environmental Control — 0.0%
Republic Services, Inc.,
Sr. Unsec’d. Notes
0.875%   11/15/25     10   9,037
2.500%   08/15/24     30   29,072
3.950%   05/15/28     20   19,459
Waste Connections, Inc.,
Sr. Unsec’d. Notes
3.500%   05/01/29     35   32,636
Waste Management, Inc.,
Gtd. Notes
2.400%   05/15/23     30   29,892
              120,096
Foods — 0.8%
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC,
Gtd. Notes, 144A
6.500%   02/15/28     375   378,071
Bellis Acquisition Co. PLC (United Kingdom),
Sr. Sec’d. Notes, 144A
3.250%   02/16/26   GBP 3,100   3,124,806
Bellis Finco PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
4.000%   02/16/27   GBP 1,600   1,394,785
Campbell Soup Co.,
Sr. Unsec’d. Notes
3.950%   03/15/25     45   44,194
4.800%   03/15/48     55   51,283
General Mills, Inc.,
Sr. Unsec’d. Notes
2.250%   10/14/31     5   4,164
Hershey Co. (The),
Sr. Unsec’d. Notes
1.700%   06/01/30     10   8,325
Kraft Heinz Foods Co.,
Gtd. Notes
4.375%   06/01/46     465   405,155
4.625%   10/01/39     645   590,806
5.000%   06/04/42     1,000   956,740
Market Bidco Finco PLC (United Kingdom),
Sr. Sec’d. Notes, 144A
5.500%   11/04/27   GBP 1,100   1,024,505
Mars, Inc.,
Gtd. Notes, 144A
3.875%   04/01/39     440   384,648
4.125%   04/01/54     415   355,712
Mondelez International, Inc.,
Sr. Unsec’d. Notes
1.500%   02/04/31     30   23,934
 
A15
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Foods (cont’d.)
Smithfield Foods, Inc.,
Sr. Unsec’d. Notes, 144A
3.000%   10/15/30     10   $7,961
              8,755,089
Forest Products & Paper — 0.0%
Georgia-Pacific LLC,
Sr. Unsec’d. Notes, 144A
0.950%   05/15/26     40   35,570
Suzano Austria GmbH (Brazil),
Gtd. Notes, Series DM3N
3.125%   01/15/32     10   8,150
              43,720
Gas — 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp.,
Sr. Unsec’d. Notes
5.875%   08/20/26     1,100   1,050,723
Atmos Energy Corp.,
Sr. Unsec’d. Notes
1.500%   01/15/31     55   44,075
2.625%   09/15/29     15   13,406
CenterPoint Energy Resources Corp.,
Sr. Unsec’d. Notes
1.750%   10/01/30     10   8,089
NiSource, Inc.,
Sr. Unsec’d. Notes
0.950%   08/15/25     75   68,484
1.700%   02/15/31     120   95,073
3.600%   05/01/30     36   33,266
4.800%   02/15/44     300   277,451
Piedmont Natural Gas Co., Inc.,
Sr. Unsec’d. Notes
4.100%   09/18/34     20   18,264
Southern California Gas Co.,
First Mortgage, Series WW
3.950%   02/15/50     45   35,889
Southern Co. Gas Capital Corp.,
Gtd. Notes
4.400%   06/01/43     1,050   888,731
              2,533,451
Healthcare-Products — 0.2%
Medline Borrower LP,
Sr. Sec’d. Notes, 144A
3.875%   04/01/29     325   281,986
Sr. Unsec’d. Notes, 144A
5.250%   10/01/29(a)     225   195,208
Medtronic Global Holdings SCA,
Gtd. Notes
1.375%   10/15/40   EUR 540   400,275
Stryker Corp.,
Sr. Unsec’d. Notes
2.125%   11/30/27   EUR 510   516,336
3.650%   03/07/28     30   28,875
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Healthcare-Products (cont’d.)
Thermo Fisher Scientific, Inc.,
Sr. Unsec’d. Notes, EMTN
1.500%   10/01/39   EUR 600   $463,485
1.875%   10/01/49   EUR 425   293,197
              2,179,362
Healthcare-Services — 1.2%
Advocate Health & Hospitals Corp.,
Sr. Unsec’d. Notes
3.387%   10/15/49     20   15,218
Aetna, Inc.,
Sr. Unsec’d. Notes
2.800%   06/15/23     20   19,907
3.875%   08/15/47     3   2,384
6.750%   12/15/37     1,900   2,095,992
AHS Hospital Corp.,
Sr. Unsec’d. Notes, Series 2021
2.780%   07/01/51     10   6,659
Ascension Health,
Sr. Unsec’d. Notes, Series B
3.106%   11/15/39     20   16,069
Baylor Scott & White Holdings,
Unsec’d. Notes, Series 2021
2.839%   11/15/50     10   6,791
Bon Secours Mercy Health, Inc.,
Sec’d. Notes, Series 20-2
2.095%   06/01/31     10   8,031
City of Hope,
Sr. Sec’d. Notes, Series 2013
5.623%   11/15/43     20   20,345
CommonSpirit Health,
Sr. Sec’d. Notes
1.547%   10/01/25     35   32,170
2.782%   10/01/30     5   4,266
3.910%   10/01/50     5   3,862
4.187%   10/01/49     30   24,499
Duke University Health System, Inc.,
Sr. Unsec’d. Notes, Series 2017
3.920%   06/01/47     25   21,627
Elevance Health, Inc.,
Sr. Unsec’d. Notes
2.375%   01/15/25     15   14,366
4.650%   01/15/43     385   360,638
HCA, Inc.,
Gtd. Notes
5.375%   02/01/25     940   940,310
7.500%   11/06/33     500   554,493
Gtd. Notes, MTN
7.750%   07/15/36     500   559,078
Kaiser Foundation Hospitals,
Unsec’d. Notes, Series 2021
3.002%   06/01/51     10   7,066
Laboratory Corp. of America Holdings,
Sr. Unsec’d. Notes
2.950%   12/01/29     25   22,349
3.600%   02/01/25     675   657,236
 
A16
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Healthcare-Services (cont’d.)
Mount Sinai Hospitals Group, Inc.,
Sec’d. Notes, Series 2017
3.981%   07/01/48     2   $1,648
Sec’d. Notes, Series 2019
3.737%   07/01/49     29   22,521
Unsec’d. Notes, Series 2020
3.391%   07/01/50     10   7,062
Northwell Healthcare, Inc.,
Sec’d. Notes
3.809%   11/01/49     10   7,852
Orlando Health Obligated Group,
Unsec’d. Notes
4.089%   10/01/48     25   20,882
PeaceHealth Obligated Group,
Sr. Unsec’d. Notes, Series 2020
1.375%   11/15/25     10   9,128
Piedmont Healthcare, Inc.,
Sec’d. Notes, Series 2032
2.044%   01/01/32     10   8,000
Providence St. Joseph Health Obligated Group,
Unsec’d. Notes, Series 19A
2.532%   10/01/29     50   42,977
Quest Diagnostics, Inc.,
Sr. Unsec’d. Notes
2.950%   06/30/30     50   44,739
Sutter Health,
Unsec’d. Notes, Series 20A
2.294%   08/15/30     6   5,042
3.361%   08/15/50     4   2,916
Tenet Healthcare Corp.,
Gtd. Notes
6.125%   10/01/28     200   190,689
Sr. Sec’d. Notes
4.250%   06/01/29     125   112,946
4.625%   06/15/28     285   264,842
4.875%   01/01/26     450   441,154
5.125%   11/01/27     425   409,831
Trinity Health Corp.,
Sr. Unsec’d. Notes, Series 2019
3.434%   12/01/48     30   23,848
UnitedHealth Group, Inc.,
Sr. Unsec’d. Notes
2.900%   05/15/50     20   14,190
3.050%   05/15/41     895   705,630
3.250%   05/15/51     5   3,761
3.500%   08/15/39     25   21,320
3.950%   10/15/42     220   192,634
4.450%   12/15/48     10   9,258
5.200%   04/15/63     5,170   5,239,730
Universal Health Services, Inc.,
Sr. Sec’d. Notes
2.650%   10/15/30     25   20,041
              13,215,997
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Home Builders — 0.1%
D.R. Horton, Inc.,
Gtd. Notes
2.500%   10/15/24     45   $43,358
Taylor Morrison Communities, Inc.,
Gtd. Notes, 144A
5.875%   06/15/27     875   861,104
Sr. Unsec’d. Notes, 144A
5.125%   08/01/30     45   41,682
              946,144
Housewares — 0.1%
Newell Brands, Inc.,
Sr. Unsec’d. Notes
4.875%   06/01/25     670   656,085
Insurance — 0.6%
Allianz SE (Germany),
Jr. Sub. Notes, 144A
3.500%(ff)   11/17/25(oo)     200   160,250
American International Group, Inc.,
Sr. Unsec’d. Notes
4.800%   07/10/45     3   2,719
Everest Reinsurance Holdings, Inc.,
Sr. Unsec’d. Notes
3.500%   10/15/50     20   14,504
Great-West Lifeco US Finance 2020 LP (Canada),
Gtd. Notes, 144A
0.904%   08/12/25     25   22,659
Liberty Mutual Finance Europe DAC,
Gtd. Notes, 144A
1.750%   03/27/24   EUR 800   845,384
Liberty Mutual Group, Inc.,
Gtd. Notes, 144A
3.951%   10/15/50     1,030   781,774
Lincoln National Corp.,
Sr. Unsec’d. Notes
7.000%   06/15/40     405   434,419
Markel Corp.,
Sr. Unsec’d. Notes
5.000%   03/30/43     350   311,308
Marsh & McLennan Cos., Inc.,
Sr. Unsec’d. Notes
2.250%   11/15/30     5   4,219
2.375%   12/15/31     15   12,405
New York Life Insurance Co.,
Sub. Notes, 144A
3.750%   05/15/50     25   20,043
Principal Financial Group, Inc.,
Gtd. Notes
4.625%   09/15/42     150   130,449
Protective Life Corp.,
Sr. Unsec’d. Notes, 144A
3.400%   01/15/30     15   13,266
Sompo International Holdings Ltd. (Bermuda),
Sr. Unsec’d. Notes
7.000%   07/15/34     1,350   1,473,584
 
A17
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Insurance (cont’d.)
Teachers Insurance & Annuity Association of America,
Sub. Notes, 144A
3.300%   05/15/50     10   $7,137
4.270%   05/15/47     2,310   1,939,253
6.850%   12/16/39     196   220,602
W.R. Berkley Corp.,
Sr. Unsec’d. Notes
4.000%   05/12/50     15   12,142
              6,406,117
Internet — 0.0%
Alphabet, Inc.,
Sr. Unsec’d. Notes
1.100%   08/15/30     20   16,351
1.900%   08/15/40     15   10,512
2.050%   08/15/50     5   3,176
Amazon.com, Inc.,
Sr. Unsec’d. Notes
1.000%   05/12/26     100   90,647
1.200%   06/03/27     20   17,748
2.100%   05/12/31     30   25,637
2.500%   06/03/50     25   16,923
2.700%   06/03/60     5   3,282
3.100%   05/12/51     25   18,952
3.150%   08/22/27     45   43,194
3.250%   05/12/61     10   7,357
3.875%   08/22/37     50   46,580
Arches Buyer, Inc.,
Sr. Sec’d. Notes, 144A
4.250%   06/01/28     25   20,887
Expedia Group, Inc.,
Gtd. Notes
2.950%   03/15/31     2   1,667
3.250%   02/15/30     35   30,366
Gtd. Notes, 144A
6.250%   05/01/25     3   3,040
Netflix, Inc.,
Sr. Unsec’d. Notes
4.375%   11/15/26     18   17,825
5.750%   03/01/24     5   5,039
              379,183
Investment Companies — 0.0%
Blackstone Private Credit Fund,
Sr. Unsec’d. Notes
3.250%   03/15/27     20   16,977
Iron/Steel — 0.0%
ArcelorMittal SA (Luxembourg),
Sr. Unsec’d. Notes
3.600%   07/16/24     50   49,273
Nucor Corp.,
Sr. Unsec’d. Notes
2.000%   06/01/25     5   4,701
Steel Dynamics, Inc.,
Sr. Unsec’d. Notes
2.400%   06/15/25     5   4,735
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Iron/Steel (cont’d.)
3.250%   01/15/31     20   $17,829
3.250%   10/15/50     5   3,491
3.450%   04/15/30     5   4,554
Vale Overseas Ltd. (Brazil),
Gtd. Notes
6.250%   08/10/26     50   51,244
              135,827
Leisure Time — 0.0%
Royal Caribbean Cruises Ltd.,
Gtd. Notes, 144A
7.250%   01/15/30     125   125,781
Lodging — 0.3%
Las Vegas Sands Corp.,
Sr. Unsec’d. Notes
2.900%   06/25/25     40   37,935
3.200%   08/08/24     105   101,519
3.500%   08/18/26     30   27,962
Marriott International, Inc.,
Sr. Unsec’d. Notes
3.600%   04/15/24     30   29,486
3.750%   10/01/25     5   4,849
Sr. Unsec’d. Notes, Series EE
5.750%   05/01/25     59   59,672
Sr. Unsec’d. Notes, Series GG
3.500%   10/15/32     1,825   1,599,586
MGM Resorts International,
Gtd. Notes
4.750%   10/15/28(a)     950   885,849
Sands China Ltd. (Macau),
Sr. Unsec’d. Notes
5.625%   08/08/25     400   388,000
              3,134,858
Machinery-Construction & Mining — 0.0%
Caterpillar Financial Services Corp.,
Sr. Unsec’d. Notes, MTN
0.800%   11/13/25     10   9,130
1.100%   09/14/27     10   8,795
Caterpillar, Inc.,
Sr. Unsec’d. Notes
2.600%   04/09/30     10   8,963
3.250%   04/09/50     10   7,960
              34,848
Machinery-Diversified — 0.0%
Chart Industries, Inc.,
Sr. Sec’d. Notes, 144A
7.500%   01/01/30     175   180,813
Deere & Co.,
Sr. Unsec’d. Notes
3.100%   04/15/30     10   9,242
3.750%   04/15/50     10   8,871
Westinghouse Air Brake Technologies Corp.,
Gtd. Notes
4.400%   03/15/24     35   34,534
 
A18
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Machinery-Diversified (cont’d.)
4.950%   09/15/28     30   $29,463
              262,923
Media — 1.6%
CCO Holdings LLC/CCO Holdings Capital Corp.,
Sr. Unsec’d. Notes
4.500%   05/01/32     450   367,626
Sr. Unsec’d. Notes, 144A
4.500%   08/15/30     5   4,215
4.750%   03/01/30     8   6,933
5.375%   06/01/29     800   734,853
5.500%   05/01/26     1,650   1,606,488
Charter Communications Operating LLC/Charter Communications Operating Capital,
Sr. Sec’d. Notes
2.250%   01/15/29     10   8,339
2.800%   04/01/31     100   80,471
3.500%   06/01/41     45   30,771
3.500%   03/01/42     50   33,768
3.950%   06/30/62     10   6,293
4.200%   03/15/28     30   28,360
4.500%   02/01/24     30   29,687
4.908%   07/23/25     65   64,284
5.050%   03/30/29     85   82,098
5.375%   05/01/47     20   16,440
5.750%   04/01/48     20   17,172
6.384%   10/23/35     2,487   2,468,159
6.484%   10/23/45     1,140   1,074,565
Comcast Corp.,
Gtd. Notes
2.350%   01/15/27     30   27,965
2.650%   02/01/30     10   8,906
2.937%   11/01/56     26   17,327
3.150%   02/15/28     80   75,939
3.250%   11/01/39     35   28,308
3.900%   03/01/38     25   22,452
3.999%   11/01/49     85   71,338
4.000%   03/01/48     40   33,869
4.150%   10/15/28     50   49,467
Cox Communications, Inc.,
Gtd. Notes, 144A
2.950%   10/01/50     60   38,323
Sr. Unsec’d. Notes, 144A
3.150%   08/15/24     965   939,967
3.500%   08/15/27     65   61,481
CSC Holdings LLC,
Gtd. Notes, 144A
3.375%   02/15/31     1,000   690,817
5.500%   04/15/27(a)     650   547,310
Sr. Unsec’d. Notes, 144A
4.625%   12/01/30     1,000   492,126
Diamond Sports Group LLC/Diamond Sports Finance Co.,
Gtd. Notes, 144A
6.625%   08/15/27(d)     520   6,337
Sec’d. Notes, 144A
5.375%   08/15/26(d)     3,180   172,043
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Media (cont’d.)
Discovery Communications LLC,
Gtd. Notes
5.300%   05/15/49     275   $229,403
DISH DBS Corp.,
Gtd. Notes
7.375%   07/01/28     400   227,990
DISH Network Corp.,
Sr. Sec’d. Notes, 144A
11.750%   11/15/27     750   721,164
Fox Corp.,
Sr. Unsec’d. Notes
3.050%   04/07/25     5   4,818
4.030%   01/25/24     30   29,672
Gray Television, Inc.,
Gtd. Notes, 144A
5.875%   07/15/26     375   321,454
NBCUniversal Media LLC,
Gtd. Notes
4.450%   01/15/43     10   9,135
Sirius XM Radio, Inc.,
Gtd. Notes, 144A
3.125%   09/01/26     15   13,529
4.000%   07/15/28     15   12,894
TCI Communications, Inc.,
Sr. Unsec’d. Notes
7.875%   02/15/26     750   814,708
Time Warner Cable LLC,
Sr. Sec’d. Notes
6.550%   05/01/37     40   39,325
TWDC Enterprises 18 Corp.,
Gtd. Notes, MTN
1.850%   07/30/26     30   27,748
Univision Communications, Inc.,
Sr. Sec’d. Notes, 144A
5.125%   02/15/25     1,175   1,153,796
6.625%   06/01/27     975   926,248
Virgin Media Secured Finance PLC (United Kingdom),
Sr. Sec’d. Notes
4.125%   08/15/30   GBP 900   898,250
4.250%   01/15/30   GBP 800   799,687
Walt Disney Co. (The),
Gtd. Notes
3.800%   03/22/30     85   81,949
6.400%   12/15/35     31   35,696
7.625%   11/30/28     500   566,070
Ziggo BV (Netherlands),
Sr. Sec’d. Notes
2.875%   01/15/30   EUR 1,910   1,697,571
              18,555,604
Mining — 0.1%
Barrick North America Finance LLC (Canada),
Gtd. Notes
5.700%   05/30/41     10   10,510
5.750%   05/01/43     420   440,130
 
A19
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Mining (cont’d.)
BHP Billiton Finance USA Ltd. (Australia),
Gtd. Notes
6.420%   03/01/26     120   $126,725
FMG Resources August 2006 Pty Ltd. (Australia),
Gtd. Notes, 144A
4.375%   04/01/31     25   21,839
Freeport Indonesia PT (Indonesia),
Sr. Unsec’d. Notes, 144A, MTN
5.315%   04/14/32     450   423,491
Freeport-McMoRan, Inc.,
Gtd. Notes
5.450%   03/15/43     20   18,717
Glencore Canada Corp. (Switzerland),
Gtd. Notes
6.200%   06/15/35     50   52,095
Glencore Funding LLC (Australia),
Gtd. Notes, 144A
2.625%   09/23/31     25   20,514
3.875%   04/27/51     25   19,146
4.125%   03/12/24     15   14,838
Kinross Gold Corp. (Canada),
Gtd. Notes
4.500%   07/15/27     25   24,265
5.950%   03/15/24     50   49,995
Newmont Corp.,
Gtd. Notes
2.250%   10/01/30     5   4,198
2.800%   10/01/29     30   26,601
Southern Copper Corp. (Mexico),
Sr. Unsec’d. Notes
3.875%   04/23/25     50   48,561
Teck Resources Ltd. (Canada),
Sr. Unsec’d. Notes
3.900%   07/15/30     30   27,528
Yamana Gold, Inc. (Canada),
Gtd. Notes
4.625%   12/15/27     45   42,895
              1,372,048
Miscellaneous Manufacturing — 0.0%
Carlisle Cos., Inc.,
Sr. Unsec’d. Notes
2.200%   03/01/32     15   11,653
General Electric Co.,
Sr. Unsec’d. Notes, MTN, 3 Month LIBOR + 0.380%
5.186%(c)   05/05/26     95   93,615
Hillenbrand, Inc.,
Gtd. Notes
5.000%   09/15/26     100   97,675
Pentair Finance Sarl,
Gtd. Notes
4.500%   07/01/29     50   47,577
Teledyne Technologies, Inc.,
Gtd. Notes
2.750%   04/01/31     60   51,227
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Miscellaneous Manufacturing (cont’d.)
Textron, Inc.,
Sr. Unsec’d. Notes
2.450%   03/15/31     64   $54,052
              355,799
Multi-National — 0.1%
Inter-American Development Bank (Supranational Bank),
Unsec’d. Notes
6.950%   08/01/26     1,500   1,633,160
Office/Business Equipment — 0.0%
CDW LLC/CDW Finance Corp.,
Gtd. Notes
2.670%   12/01/26     20   18,205
3.276%   12/01/28     25   22,092
5.500%   12/01/24     14   13,976
              54,273
Oil & Gas — 2.1%
Aker BP ASA (Norway),
Gtd. Notes, 144A
3.100%   07/15/31     705   593,752
Ascent Resources Utica Holdings LLC/ARU Finance Corp.,
Gtd. Notes, 144A (original cost $335,344; purchased 04/02/19 - 06/03/19)(f)
7.000%   11/01/26     350   338,223
Gtd. Notes, 144A (original cost $166,918; purchased 10/13/2020)(f)
9.000%   11/01/27     179   218,254
Sr. Unsec’d. Notes, 144A (original cost $450,000; purchased 12/14/2020)(f)
8.250%   12/31/28     450   435,916
BP Capital Markets America, Inc.,
Gtd. Notes
1.749%   08/10/30     10   8,284
2.772%   11/10/50     145   97,619
2.939%   06/04/51     1,845   1,279,956
3.000%   02/24/50     60   42,518
3.060%   06/17/41     7   5,414
3.379%   02/08/61     5   3,603
4.234%   11/06/28     50   49,557
Canadian Natural Resources Ltd. (Canada),
Sr. Unsec’d. Notes
2.950%   07/15/30     10   8,663
Cenovus Energy, Inc. (Canada),
Sr. Unsec’d. Notes
3.750%   02/15/52     340   247,072
5.250%   06/15/37     30   28,231
5.400%   06/15/47     1,030   957,611
Chevron Corp.,
Sr. Unsec’d. Notes
2.954%   05/16/26     20   19,264
3.078%   05/11/50     10   7,569
Chevron USA, Inc.,
Gtd. Notes
1.018%   08/12/27     10   8,808
2.343%   08/12/50     10   6,569
3.850%   01/15/28     10   9,878
 
A20
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
3.900%   11/15/24     50   $49,805
Cimarex Energy Co.,
Sr. Unsec’d. Notes
4.375%   03/15/29     10   8,785
CITGO Petroleum Corp.,
Sr. Sec’d. Notes, 144A
7.000%   06/15/25     800   791,156
Continental Resources, Inc.,
Gtd. Notes
3.800%   06/01/24     10   9,795
4.500%   04/15/23     5   4,996
Gtd. Notes, 144A
2.268%   11/15/26     10   8,865
Devon Energy Corp.,
Sr. Unsec’d. Notes
4.500%   01/15/30     6   5,731
4.750%   05/15/42     6   5,213
5.250%   09/15/24     2   2,004
5.250%   10/15/27     15   15,006
5.600%   07/15/41     870   833,429
5.850%   12/15/25     30   30,482
Devon OEI Operating LLC,
Sr. Unsec’d. Notes
7.500%   09/15/27     20   21,589
Diamondback Energy, Inc.,
Gtd. Notes
3.125%   03/24/31     25   21,651
3.250%   12/01/26     20   18,997
Ecopetrol SA (Colombia),
Sr. Unsec’d. Notes
6.875%   04/29/30     497   454,775
8.875%   01/13/33     495   499,331
Endeavor Energy Resources LP/EER Finance, Inc.,
Sr. Unsec’d. Notes, 144A
5.750%   01/30/28     1,300   1,290,582
Energean Israel Finance Ltd. (Israel),
Sr. Sec’d. Notes, 144A
4.500%   03/30/24     500   484,375
4.875%   03/30/26     547   504,334
5.375%   03/30/28     890   796,728
EOG Resources, Inc.,
Sr. Unsec’d. Notes
4.375%   04/15/30     15   14,966
EQT Corp.,
Sr. Unsec’d. Notes, 144A
3.125%   05/15/26     10   9,252
Equinor ASA (Norway),
Gtd. Notes
1.750%   01/22/26     10   9,312
Exxon Mobil Corp.,
Sr. Unsec’d. Notes
2.992%   03/19/25     15   14,597
3.452%   04/15/51     25   19,954
3.482%   03/19/30     10   9,554
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
Helmerich & Payne, Inc.,
Sr. Unsec’d. Notes
2.900%   09/29/31     25   $20,703
Hess Corp.,
Sr. Unsec’d. Notes
4.300%   04/01/27     45   43,894
5.600%   02/15/41     15   14,471
7.300%   08/15/31     5   5,566
KazMunayGas National Co. JSC (Kazakhstan),
Sr. Unsec’d. Notes, 144A
4.750%   04/24/25     1,160   1,118,530
4.750%   04/19/27     200   183,000
Marathon Petroleum Corp.,
Sr. Unsec’d. Notes
5.125%   12/15/26     50   50,446
MEG Energy Corp. (Canada),
Gtd. Notes, 144A
7.125%   02/01/27     425   431,375
Petrobras Global Finance BV (Brazil),
Gtd. Notes
6.625%   01/16/34   GBP 680   726,547
Petroleos Mexicanos (Mexico),
Gtd. Notes
5.350%   02/12/28     157   132,430
5.950%   01/28/31     20   15,218
6.490%   01/23/27     1,550   1,406,625
6.500%   03/13/27     1,753   1,584,011
6.500%   01/23/29     700   598,500
6.700%   02/16/32     16   12,685
6.840%   01/23/30     800   661,520
Gtd. Notes, EMTN
3.750%   02/21/24   EUR 400   425,612
4.875%   02/21/28   EUR 1,430   1,288,453
Phillips 66,
Gtd. Notes
1.300%   02/15/26     22   19,962
2.150%   12/15/30     53   43,750
Phillips 66 Co.,
Gtd. Notes, 144A
2.450%   12/15/24     50   47,513
4.680%   02/15/45     1,900   1,694,778
Pioneer Natural Resources Co.,
Sr. Unsec’d. Notes
0.550%   05/15/23     55   54,659
1.125%   01/15/26     25   22,715
1.900%   08/15/30     795   646,343
2.150%   01/15/31     5   4,109
QatarEnergy (Qatar),
Sr. Unsec’d. Notes, 144A
1.375%   09/12/26     200   179,288
3.125%   07/12/41     640   497,920
Shell International Finance BV (Netherlands),
Gtd. Notes
3.250%   04/06/50     10   7,578
4.000%   05/10/46     20   17,459
 
A21
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
Southwestern Energy Co.,
Gtd. Notes
4.750%   02/01/32(a)     525   $463,914
TotalEnergies Capital International SA (France),
Gtd. Notes
3.127%   05/29/50     4   2,944
Transocean, Inc.,
Gtd. Notes, 144A
8.000%   02/01/27     125   111,250
Valero Energy Corp.,
Sr. Unsec’d. Notes
2.150%   09/15/27(a)     845   763,508
              23,599,301
Oil & Gas Services — 0.0%
Cameron International Corp.,
Gtd. Notes
7.000%   07/15/38     450   485,557
Halliburton Co.,
Sr. Unsec’d. Notes
2.920%   03/01/30     6   5,349
3.800%   11/15/25     8   7,841
              498,747
Packaging & Containers — 0.2%
Amcor Flexibles North America, Inc.,
Gtd. Notes
2.630%   06/19/30     55   46,091
Berry Global, Inc.,
Sr. Sec’d. Notes
1.570%   01/15/26     90   81,765
Sr. Sec’d. Notes, 144A
4.875%   07/15/26     20   19,497
Graphic Packaging International LLC,
Gtd. Notes
4.125%   08/15/24     575   564,053
Sr. Sec’d. Notes, 144A
1.512%   04/15/26     30   26,708
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.,
Sr. Sec’d. Notes, 144A
4.375%   10/15/28     1,000   874,413
Sealed Air Corp./Sealed Air Corp. US,
Gtd. Notes, 144A
6.125%   02/01/28     100   101,189
WRKCo, Inc.,
Gtd. Notes
3.000%   06/15/33     5   4,101
3.900%   06/01/28     16   15,219
4.650%   03/15/26     25   24,747
4.900%   03/15/29     15   14,755
              1,772,538
Pharmaceuticals — 2.1%
AbbVie, Inc.,
Sr. Unsec’d. Notes
2.950%   11/21/26     300   285,477
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pharmaceuticals (cont’d.)
3.200%   11/21/29     59   $54,727
3.800%   03/15/25     1,040   1,023,227
4.050%   11/21/39     5,170   4,614,083
4.250%   11/14/28     50   49,708
4.300%   05/14/36     10   9,401
4.500%   05/14/35     1,715   1,662,700
4.550%   03/15/35     2,040   1,995,307
4.875%   11/14/48     35   33,618
Astrazeneca Finance LLC (United Kingdom),
Gtd. Notes
2.250%   05/28/31     8   6,869
AstraZeneca PLC (United Kingdom),
Sr. Unsec’d. Notes
0.700%   04/08/26     45   40,443
Bausch Health Americas, Inc.,
Gtd. Notes, 144A
8.500%   01/31/27     320   145,236
Bausch Health Cos., Inc.,
Gtd. Notes, 144A
5.000%   01/30/28     430   161,327
5.000%   02/15/29     250   92,721
5.250%   01/30/30     325   120,453
5.250%   02/15/31     225   86,344
6.250%   02/15/29     1,150   425,500
Becton, Dickinson & Co.,
Sr. Unsec’d. Notes
1.957%   02/11/31     20   16,446
3.700%   06/06/27     136   131,458
3.794%   05/20/50     27   21,886
4.685%   12/15/44     9   8,378
Bristol-Myers Squibb Co.,
Sr. Unsec’d. Notes
2.350%   11/13/40     10   7,205
4.125%   06/15/39     470   437,613
Cigna Group (The),
Gtd. Notes
3.250%   04/15/25     20   19,386
3.875%   10/15/47     20   16,120
4.375%   10/15/28     1,390   1,369,145
4.500%   02/25/26     3,690   3,672,455
Sr. Unsec’d. Notes
2.400%   03/15/30     140   121,460
3.200%   03/15/40     460   360,402
CVS Health Corp.,
Sr. Unsec’d. Notes
1.750%   08/21/30     60   48,772
2.125%   09/15/31     40   32,650
2.625%   08/15/24     100   97,103
2.700%   08/21/40     480   343,528
3.000%   08/15/26     12   11,450
3.625%   04/01/27     50   48,189
3.750%   04/01/30     110   102,893
4.300%   03/25/28     98   96,255
Johnson & Johnson,
Sr. Unsec’d. Notes
2.100%   09/01/40     10   7,264
 
A22
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pharmaceuticals (cont’d.)
Merck & Co., Inc.,
Sr. Unsec’d. Notes
1.450%   06/24/30     25   $20,659
2.350%   06/24/40     10   7,373
2.750%   12/10/51     15   10,620
Mylan, Inc.,
Gtd. Notes
5.200%   04/15/48     890   701,509
Novartis Capital Corp. (Switzerland),
Gtd. Notes
2.750%   08/14/50     10   7,401
Pfizer, Inc.,
Sr. Unsec’d. Notes
3.000%   12/15/26     20   19,268
Shire Acquisitions Investments Ireland DAC,
Gtd. Notes
2.875%   09/23/23     16   15,804
3.200%   09/23/26     3,785   3,596,505
Takeda Pharmaceutical Co. Ltd. (Japan),
Sr. Unsec’d. Notes
3.025%   07/09/40     525   400,560
Utah Acquisition Sub, Inc.,
Gtd. Notes
3.950%   06/15/26     30   28,555
5.250%   06/15/46     185   146,966
Viatris, Inc.,
Gtd. Notes
3.850%   06/22/40     5   3,513
4.000%   06/22/50     1,292   849,839
Zoetis, Inc.,
Sr. Unsec’d. Notes
3.900%   08/20/28     30   29,179
              23,614,950
Pipelines — 1.8%
Boardwalk Pipelines LP,
Gtd. Notes
3.400%   02/15/31     1,805   1,575,224
4.450%   07/15/27     60   58,597
Cameron LNG LLC,
Sr. Sec’d. Notes, 144A
2.902%   07/15/31     10   8,891
3.302%   01/15/35     45   38,769
3.701%   01/15/39     10   8,419
Cheniere Energy Partners LP,
Gtd. Notes
3.250%   01/31/32     15   12,400
DCP Midstream Operating LP,
Gtd. Notes
3.250%   02/15/32     18   15,231
Energy Transfer LP,
Jr. Sub. Notes, Series B
6.625%(ff)   02/15/28(oo)     10   7,440
Jr. Sub. Notes, Series G
7.125%(ff)   05/15/30(oo)     895   750,484
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
Jr. Sub. Notes, Series H
6.500%(ff)   11/15/26(oo)     1,365   $1,204,451
Sr. Unsec’d. Notes
2.900%   05/15/25     5   4,766
3.750%   05/15/30     60   55,357
4.050%   03/15/25     50   49,051
4.200%   04/15/27     120   115,390
4.250%   04/01/24     5   4,936
4.900%   02/01/24     10   9,918
4.950%   06/15/28     20   19,871
5.000%   05/15/50     293   249,301
5.150%   03/15/45     55   47,703
5.250%   04/15/29     25   24,937
5.300%   04/15/47     120   105,385
5.400%   10/01/47     60   53,422
5.500%   06/01/27     50   50,618
6.125%   12/15/45     90   86,722
6.250%   04/15/49     1,470   1,455,767
6.500%   02/01/42     5   5,191
Sr. Unsec’d. Notes, Series 05Y
4.200%   09/15/23     17   16,899
Sr. Unsec’d. Notes, Series 20Y
5.800%   06/15/38     20   19,427
Enterprise Products Operating LLC,
Gtd. Notes
2.800%   01/31/30     5   4,443
3.125%   07/31/29     30   27,459
3.300%   02/15/53     15   10,878
3.700%   01/31/51     130   100,937
3.950%   01/31/60     800   620,114
4.150%   10/16/28     30   29,148
4.250%   02/15/48     45   38,359
4.800%   02/01/49     30   27,586
4.850%   03/15/44     25   23,187
4.900%   05/15/46     2,115   1,959,179
Gtd. Notes, Series D
6.875%   03/01/33     10   11,389
Fermaca Enterprises S de RL de CV (Mexico),
Sr. Sec’d. Notes, 144A
6.375%   03/30/38     335   319,726
Florida Gas Transmission Co. LLC,
Sr. Unsec’d. Notes, 144A
2.300%   10/01/31     30   24,462
Kinder Morgan Energy Partners LP,
Gtd. Notes
4.300%   05/01/24     30   29,712
4.700%   11/01/42     5   4,275
5.400%   09/01/44     13   12,020
7.300%   08/15/33     10   11,196
Kinder Morgan, Inc.,
Gtd. Notes
1.750%   11/15/26     30   27,029
3.250%   08/01/50     782   516,999
3.600%   02/15/51     1,178   834,332
4.300%   06/01/25     30   29,554
5.300%   12/01/34     23   22,583
 
A23
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
Gtd. Notes, 144A
5.625%   11/15/23     37   $36,948
Magellan Midstream Partners LP,
Sr. Unsec’d. Notes
4.200%   03/15/45     1,000   747,472
MPLX LP,
Sr. Unsec’d. Notes
1.750%   03/01/26     85   77,613
2.650%   08/15/30     30   25,485
4.000%   02/15/25     55   53,869
4.125%   03/01/27     50   48,486
4.500%   04/15/38     970   860,462
4.800%   02/15/29     40   39,589
4.875%   06/01/25     10   9,931
4.950%   03/14/52     15   13,024
5.200%   03/01/47     115   103,107
5.500%   02/15/49     40   37,235
NGPL PipeCo LLC,
Sr. Unsec’d. Notes, 144A
4.875%   08/15/27     255   246,780
Northern Natural Gas Co.,
Sr. Unsec’d. Notes, 144A
3.400%   10/16/51     5   3,589
Northwest Pipeline LLC,
Sr. Unsec’d. Notes
7.125%   12/01/25     40   41,447
ONEOK Partners LP,
Gtd. Notes
6.850%   10/15/37     1,250   1,320,464
ONEOK, Inc.,
Gtd. Notes
2.200%   09/15/25     50   46,410
3.100%   03/15/30     75   65,672
4.350%   03/15/29     100   94,636
4.500%   03/15/50     2,685   2,082,738
4.950%   07/13/47     450   376,731
Plains All American Pipeline LP/PAA Finance Corp.,
Sr. Unsec’d. Notes
3.550%   12/15/29     20   17,885
3.850%   10/15/23     40   39,581
4.650%   10/15/25     10   9,907
Rockies Express Pipeline LLC,
Sr. Unsec’d. Notes, 144A
3.600%   05/15/25     75   70,496
Southern Natural Gas Co. LLC,
Sr. Unsec’d. Notes
8.000%   03/01/32     10   11,570
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.,
Gtd. Notes, 144A
7.500%   10/01/25     1,150   1,153,048
Targa Resources Partners LP/Targa Resources Partners Finance Corp.,
Gtd. Notes
5.500%   03/01/30     15   14,635
Tennessee Gas Pipeline Co. LLC,
Gtd. Notes
7.000%   03/15/27     10   10,660
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
7.000%   10/15/28     10   $10,871
Gtd. Notes, 144A
2.900%   03/01/30     10   8,679
Transcontinental Gas Pipe Line Co. LLC,
Sr. Unsec’d. Notes
3.250%   05/15/30     80   72,490
Venture Global Calcasieu Pass LLC,
Sr. Sec’d. Notes, 144A
3.875%   08/15/29     115   103,726
4.125%   08/15/31     80   70,249
Western Midstream Operating LP,
Sr. Unsec’d. Notes
5.450%   04/01/44     575   501,893
5.500%   02/01/50     5   4,247
Williams Cos., Inc. (The),
Sr. Unsec’d. Notes
2.600%   03/15/31     30   25,174
3.750%   06/15/27     25   24,003
4.000%   09/15/25     60   58,690
4.900%   01/15/45     1,200   1,056,443
5.300%   08/15/52     30   28,325
8.750%   03/15/32     10   12,001
              20,375,395
Real Estate — 0.1%
Greystar Real Estate Partners LLC,
Sr. Sec’d. Notes, 144A
5.750%   12/01/25     1,200   1,163,879
Real Estate Investment Trusts (REITs) — 0.7%
Alexandria Real Estate Equities, Inc.,
Gtd. Notes
1.875%   02/01/33     5   3,745
2.000%   05/18/32     5   3,820
3.800%   04/15/26     25   24,055
American Tower Corp.,
Sr. Unsec’d. Notes
1.300%   09/15/25     25   22,924
1.600%   04/15/26     50   45,220
2.700%   04/15/31     90   75,314
3.600%   01/15/28     17   15,967
4.000%   06/01/25     75   73,266
4.400%   02/15/26     25   24,644
Brixmor Operating Partnership LP,
Sr. Unsec’d. Notes
3.900%   03/15/27     35   32,420
4.050%   07/01/30     1,145   1,025,599
Camden Property Trust,
Sr. Unsec’d. Notes
2.800%   05/15/30     5   4,330
Crown Castle, Inc.,
Sr. Unsec’d. Notes
1.350%   07/15/25     25   23,051
2.250%   01/15/31     75   62,187
2.500%   07/15/31     35   29,355
3.300%   07/01/30     30   27,038
4.000%   03/01/27     10   9,678
 
A24
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Real Estate Investment Trusts (REITs) (cont’d.)
5.200%   02/15/49     10   $9,267
Diversified Healthcare Trust,
Gtd. Notes
9.750%   06/15/25     500   483,729
Essex Portfolio LP,
Gtd. Notes
1.650%   01/15/31     25   19,340
Global Net Lease, Inc./Global Net Lease Operating Partnership LP,
Gtd. Notes, 144A
3.750%   12/15/27     20   15,805
GLP Capital LP/GLP Financing II, Inc.,
Gtd. Notes
3.350%   09/01/24     70   66,709
4.000%   01/15/30     50   44,357
4.000%   01/15/31     10   8,704
5.250%   06/01/25     50   48,922
5.750%   06/01/28     50   48,767
Healthpeak OP LLC,
Gtd. Notes
1.350%   02/01/27     15   13,175
Host Hotels & Resorts LP,
Sr. Unsec’d. Notes, Series E
4.000%   06/15/25     40   38,443
Kimco Realty OP LLC,
Gtd. Notes
2.250%   12/01/31     20   15,629
MPT Operating Partnership LP/MPT Finance Corp.,
Gtd. Notes
0.993%   10/15/26   EUR 675   492,293
3.500%   03/15/31     925   618,088
Necessity Retail REIT, Inc. (The)/American Finance Operating Partner LP,
Gtd. Notes, 144A
4.500%   09/30/28     10   7,383
Prologis LP,
Sr. Unsec’d. Notes
1.250%   10/15/30     10   7,837
1.750%   02/01/31     25   20,201
Realty Income Corp.,
Sr. Unsec’d. Notes
1.800%   03/15/33     15   11,133
2.200%   06/15/28     5   4,408
2.850%   12/15/32     530   437,777
3.950%   08/15/27     91   87,724
4.875%   06/01/26     50   49,724
Simon Property Group LP,
Sr. Unsec’d. Notes
2.450%   09/13/29     40   34,250
3.250%   11/30/26     20   18,922
Spirit Realty LP,
Gtd. Notes
2.100%   03/15/28     15   12,613
2.700%   02/15/32     2,190   1,714,981
Ventas Realty LP,
Gtd. Notes
3.000%   01/15/30     5   4,317
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Real Estate Investment Trusts (REITs) (cont’d.)
VICI Properties LP/VICI Note Co., Inc.,
Gtd. Notes, 144A
3.500%   02/15/25     25   $23,686
4.625%   06/15/25     405   391,508
Welltower OP LLC,
Gtd. Notes
2.050%   01/15/29     15   12,530
2.700%   02/15/27     25   22,762
2.800%   06/01/31     35   29,089
Weyerhaeuser Co.,
Sr. Unsec’d. Notes
7.375%   03/15/32     6   6,884
WP Carey, Inc.,
Sr. Unsec’d. Notes
2.250%   04/01/33     1,930   1,472,621
              7,796,191
Retail — 0.5%
1011778 BC ULC/New Red Finance, Inc. (Canada),
Sec’d. Notes, 144A
4.000%   10/15/30     1,500   1,286,250
7-Eleven, Inc.,
Sr. Unsec’d. Notes, 144A
0.950%   02/10/26     79   70,983
Alimentation Couche-Tard, Inc. (Canada),
Sr. Unsec’d. Notes, 144A
3.800%   01/25/50     20   14,742
At Home Group, Inc.,
Sr. Sec’d. Notes, 144A
4.875%   07/15/28     275   186,071
AutoNation, Inc.,
Sr. Unsec’d. Notes
2.400%   08/01/31     25   19,202
eG Global Finance PLC (United Kingdom),
Sr. Sec’d. Notes
6.250%   10/30/25   EUR 1,600   1,600,842
Home Depot, Inc. (The),
Sr. Unsec’d. Notes
2.950%   06/15/29     49   45,315
3.350%   04/15/50     5   3,877
3.900%   12/06/28     10   9,850
4.875%   02/15/44     10   9,900
Lowe’s Cos., Inc.,
Sr. Unsec’d. Notes
1.300%   04/15/28     65   55,842
1.700%   09/15/28     20   17,313
1.700%   10/15/30     10   8,100
3.650%   04/05/29     30   28,372
McDonald’s Corp.,
Sr. Unsec’d. Notes, MTN
3.800%   04/01/28     30   29,454
Nordstrom, Inc.,
Sr. Unsec’d. Notes
2.300%   04/08/24     20   19,109
 
A25
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Retail (cont’d.)
O’Reilly Automotive, Inc.,
Sr. Unsec’d. Notes
1.750%   03/15/31     2,155   $1,730,643
Ross Stores, Inc.,
Sr. Unsec’d. Notes
4.600%   04/15/25     50   49,842
4.700%   04/15/27     2   1,986
Sally Holdings LLC/Sally Capital, Inc.,
Gtd. Notes
5.625%   12/01/25     454   448,671
Tractor Supply Co.,
Sr. Unsec’d. Notes
1.750%   11/01/30     55   43,669
Walmart, Inc.,
Sr. Unsec’d. Notes
1.800%   09/22/31     10   8,457
2.375%   09/24/29     2   1,793
2.500%   09/22/41     15   11,370
4.500%   09/09/52     10   9,993
              5,711,646
Semiconductors — 0.4%
Analog Devices, Inc.,
Sr. Unsec’d. Notes
2.950%   04/01/25     5   4,834
Broadcom Corp./Broadcom Cayman Finance Ltd.,
Gtd. Notes
3.875%   01/15/27     80   77,278
Broadcom, Inc.,
Gtd. Notes
4.150%   11/15/30     9   8,343
Gtd. Notes, 144A
2.450%   02/15/31     30   24,553
Sr. Unsec’d. Notes, 144A
3.137%   11/15/35     3,006   2,316,587
3.419%   04/15/33     1,442   1,206,202
3.469%   04/15/34     50   41,084
4.926%   05/15/37     100   90,733
Intel Corp.,
Sr. Unsec’d. Notes
2.800%   08/12/41     5   3,634
3.050%   08/12/51     15   10,250
3.100%   02/15/60     10   6,577
3.900%   03/25/30     20   19,062
5.900%   02/10/63     630   647,819
Lam Research Corp.,
Sr. Unsec’d. Notes
1.900%   06/15/30     25   21,061
Microchip Technology, Inc.,
Sr. Unsec’d. Notes
0.972%   02/15/24     65   62,399
NVIDIA Corp.,
Sr. Unsec’d. Notes
1.550%   06/15/28     30   26,442
3.500%   04/01/40     10   8,576
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Semiconductors (cont’d.)
NXP BV/NXP Funding LLC (China),
Gtd. Notes
4.875%   03/01/24     75   $74,334
NXP BV/NXP Funding LLC/NXP USA, Inc. (China),
Gtd. Notes
2.500%   05/11/31     65   53,498
2.650%   02/15/32     35   28,575
3.400%   05/01/30     40   35,845
4.300%   06/18/29     110   104,637
Texas Instruments, Inc.,
Sr. Unsec’d. Notes
2.700%   09/15/51     5   3,585
2.900%   11/03/27     10   9,512
              4,885,420
Shipbuilding — 0.0%
Huntington Ingalls Industries, Inc.,
Gtd. Notes
4.200%   05/01/30     20   18,774
Software — 0.3%
Adobe, Inc.,
Sr. Unsec’d. Notes
2.150%   02/01/27     20   18,594
Autodesk, Inc.,
Sr. Unsec’d. Notes
2.400%   12/15/31     30   24,958
Boxer Parent Co., Inc.,
Sec’d. Notes, 144A
9.125%   03/01/26     850   822,593
Electronic Arts, Inc.,
Sr. Unsec’d. Notes
1.850%   02/15/31     65   53,484
Fidelity National Information Services, Inc.,
Sr. Unsec’d. Notes
3.100%   03/01/41     10   6,992
Fiserv, Inc.,
Sr. Unsec’d. Notes
2.250%   06/01/27     21   19,016
2.750%   07/01/24     50   48,527
3.500%   07/01/29     40   37,125
3.800%   10/01/23     15   14,861
4.200%   10/01/28     40   38,754
Microsoft Corp.,
Sr. Unsec’d. Notes
2.400%   08/08/26     10   9,511
2.525%   06/01/50     1,842   1,297,260
2.921%   03/17/52     89   67,443
Oracle Corp.,
Sr. Unsec’d. Notes
1.650%   03/25/26     80   73,502
2.650%   07/15/26     50   46,717
2.950%   04/01/30     100   88,285
3.600%   04/01/50     31   21,957
3.850%   04/01/60     5   3,488
3.950%   03/25/51     5   3,756
4.000%   11/15/47     25   19,082
 
A26
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Software (cont’d.)
5.550%   02/06/53     735   $699,555
Salesforce, Inc.,
Sr. Unsec’d. Notes
1.500%   07/15/28     10   8,827
VMware, Inc.,
Sr. Unsec’d. Notes
1.800%   08/15/28     10   8,445
2.200%   08/15/31     30   23,703
3.900%   08/21/27     35   33,494
4.700%   05/15/30     43   41,686
              3,531,615
Telecommunications — 1.8%
AT&T, Inc.,
Sr. Unsec’d. Notes
1.700%   03/25/26     200   183,567
2.250%   02/01/32     45   36,750
2.300%   06/01/27     75   68,717
2.550%   12/01/33     347   279,132
2.750%   06/01/31     110   94,689
3.500%   09/15/53     2,881   2,092,082
3.550%   09/15/55     972   698,220
3.650%   09/15/59     180   128,612
3.800%   12/01/57     13   9,656
4.250%   03/01/27     10   9,909
4.300%   02/15/30     545   529,941
4.350%   03/01/29     45   44,065
4.500%   05/15/35     900   843,986
4.500%   03/09/48     10   8,617
6.950%   01/15/28     10   10,663
Deutsche Telekom International Finance BV (Germany),
Gtd. Notes
8.750%   06/15/30     10   12,217
Digicel Group Holdings Ltd. (Jamaica),
Sr. Unsec’d. Notes, 144A, Cash coupon 5.000% and PIK 3.000% (original cost $104,013; purchased 03/21/23 - 03/22/23)(f)
8.000%   04/01/25     265   105,338
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica),
Gtd. Notes, 144A (original cost $367,669; purchased 3/9/2023)(f)
8.000%   12/31/26     1,471   294,135
Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% (original cost $556,233; purchased 06/29/21 - 12/15/22)(f)
13.000%   12/31/25(a)     554   349,246
Sr. Sec’d. Notes, 144A (original cost $202,500; purchased 07/28/20 )(f)
8.750%   05/25/24     200   182,000
Sr. Sec’d. Notes, 144A (original cost $1,009,327; purchased 7/27/2020)(f)
8.750%   05/25/24     997   907,148
Digicel Ltd. (Jamaica),
Gtd. Notes, 144A (original cost $301,250; purchased 9/11/2020)(f)
6.750%   06/01/23     500   100,000
Level 3 Financing, Inc.,
Gtd. Notes, 144A
3.625%   01/15/29     40   22,077
Sr. Sec’d. Notes, 144A
10.500%   05/15/30     288   276,013
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Telecommunications (cont’d.)
Motorola Solutions, Inc.,
Sr. Unsec’d. Notes
2.300%   11/15/30     49   $39,812
4.600%   05/23/29     60   58,479
Sprint LLC,
Gtd. Notes
7.625%   02/15/25(a)     2,502   2,598,435
7.625%   03/01/26     100   105,758
7.875%   09/15/23     2,000   2,016,273
T-Mobile USA, Inc.,
Gtd. Notes
2.250%   02/15/26     45   41,937
2.550%   02/15/31     10   8,471
2.625%   02/15/29     10   8,820
3.300%   02/15/51     5   3,555
3.750%   04/15/27     125   120,201
3.875%   04/15/30     137   128,491
4.375%   04/15/40     435   389,658
4.500%   04/15/50(a)     1,985   1,723,337
Verizon Communications, Inc.,
Sr. Unsec’d. Notes
1.500%   09/18/30     75   60,556
1.680%   10/30/30     32   25,833
1.750%   01/20/31     55   44,287
2.100%   03/22/28     230   204,927
2.355%   03/15/32     5,130   4,208,892
2.550%   03/21/31     80   68,156
2.850%   09/03/41     10   7,291
2.875%   11/20/50     10   6,674
3.150%   03/22/30     35   31,885
3.400%   03/22/41     1,185   943,251
3.550%   03/22/51     90   68,836
4.016%   12/03/29     140   134,092
4.329%   09/21/28     115   113,529
Vodafone Group PLC (United Kingdom),
Sr. Unsec’d. Notes
3.750%   01/16/24     20   19,778
              20,467,994
Transportation — 0.1%
Burlington Northern Santa Fe LLC,
Sr. Unsec’d. Notes
3.050%   02/15/51     5   3,631
3.550%   02/15/50     5   4,014
4.900%   04/01/44     10   9,805
CSX Corp.,
Sr. Unsec’d. Notes
3.250%   06/01/27     10   9,563
3.800%   03/01/28     16   15,611
FedEx Corp.,
Gtd. Notes
3.100%   08/05/29     10   9,188
4.250%   05/15/30     20   19,475
Indian Railway Finance Corp. Ltd. (India),
Sr. Unsec’d. Notes, 144A, MTN
3.570%   01/21/32     480   416,490
 
A27
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Transportation (cont’d.)
Kansas City Southern,
Gtd. Notes
3.500%   05/01/50     25   $18,861
Lima Metro Line 2 Finance Ltd. (Peru),
Sr. Sec’d. Notes
5.875%   07/05/34     93   88,887
Norfolk Southern Corp.,
Sr. Unsec’d. Notes
2.900%   06/15/26     14   13,306
3.800%   08/01/28     54   51,985
Union Pacific Corp.,
Sr. Unsec’d. Notes
3.750%   03/15/24     20   19,776
3.799%   10/01/51     9   7,560
3.950%   08/15/59     35   28,591
              716,743
Trucking & Leasing — 0.0%
Penske Truck Leasing Co. LP/PTL Finance Corp.,
Sr. Unsec’d. Notes, 144A
1.200%   11/15/25     20   17,934
1.700%   06/15/26     30   26,769
2.700%   11/01/24     20   19,144
4.000%   07/15/25     25   24,222
4.125%   08/01/23     5   4,967
              93,036
 
Total Corporate Bonds

(cost $441,743,664)
  389,912,786
Floating Rate and Other Loans — 1.1%
Airlines — 0.1%
United Airlines, Inc.,
Class B Term Loan, 3 Month LIBOR + 3.750%
8.568%(c)   04/21/28     677   671,756
Commercial Services — 0.0%
Adtalem Global Education, Inc.,
Term B Loan, 1 Month LIBOR + 4.000%
8.840%(c)   08/12/28     225   224,368
Computers — 0.2%
McAfee Corp.,
Tranche B-1 Term Loan, 1 Month SOFR + 3.850%
8.515%(c)   03/01/29     1,340   1,258,367
Peraton Corp.,
First Lien Term B Loan, 1 Month LIBOR + 3.750%
8.590%(c)   02/01/28     746   733,893
              1,992,260
Insurance — 0.1%
Asurion LLC,
New B11 Term Loan, 1 Month SOFR + 4.250%
9.057%(c)   08/21/28     460   425,257
New B-9 Term Loan, 1 Month LIBOR + 3.250%
8.090%(c)   07/31/27     343   313,845
              739,102
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Floating Rate and Other Loans (continued)
Media — 0.1%
CSC Holdings LLC,
2022 Refinancing Term Loan, 1 Month SOFR + 4.500%
9.327%(c)   01/17/28     344   $317,577
September 2019 Term Loan, 1 Month LIBOR + 2.500%
7.184%(c)   04/15/27     764   672,915
Diamond Sports Group LLC,
First Lien Term Loan, 3 Month SOFR + 8.150%
12.775%(c)   05/25/26     145   134,975
Second Lien Term loan
8.025%   08/24/26     1,959   121,937
iHeartCommunications, Inc.,
New Term Loan, 1 Month LIBOR + 3.000%
7.840%(c)   05/01/26     314   277,227
              1,524,631
Metal Fabricate/Hardware — 0.1%
Tank Holding Corp.,
Term Loan, 1 Month SOFR + 5.850%
10.657%(c)   03/31/28     1,414   1,357,740
Oil & Gas — 0.0%
Ascent Resources Utica Holdings LLC,
Second Lien Term Loan, 3 Month LIBOR + 9.000%
13.815%(c)   11/01/25     388   410,795
Real Estate Investment Trusts (REITs) — 0.1%
Blackstone Mortgage Trust, Inc.,
Term Loan, 1 Month LIBOR + 2.250%
7.090%(c)   04/23/26     489   447,076
Retail — 0.3%
EG Group Ltd. (United Kingdom),
Additional Second Lien Loan Facility, 6 Month EURIBOR + 7.000%
9.752%(c)   04/30/27   EUR 3,500   3,215,315
Telecommunications — 0.1%
CenturyLink, Inc.,
Term B Loan, 1 Month SOFR + 2.364%
7.172%(c)   03/15/27     245   161,522
Digicel International Finance Ltd. (Saint Lucia),
First Lien Initial Term B Loan, 1 Month LIBOR + 3.250%
8.081%(c)   05/27/24     1,372   1,224,090
              1,385,612
 
Total Floating Rate and Other Loans

(cost $13,939,871)
  11,968,655
Municipal Bonds — 1.3%
Arizona — 0.0%
Salt River Project Agricultural Improvement & Power District,
Revenue Bonds, BABs
4.839%   01/01/41     30   29,917
California — 0.4%
Bay Area Toll Authority,
Taxable, Revenue Bonds, BABs, Series S3
6.907%   10/01/50     1,125   1,457,454
State of California,
General Obligation Unlimited, BABs
7.300%   10/01/39     1,550   1,929,088
 
A28
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Municipal Bonds (continued)
California (cont’d.)
General Obligation Unlimited, Taxable, BABs
7.625%   03/01/40     725   $940,528
              4,327,070
Colorado — 0.1%
Colorado Health Facilities Authority,
Taxable, Revenue Bonds, Series B
2.800%   12/01/26     5   4,663
Regional Transportation District Sales Tax Revenue,
Revenue Bonds, BABs, Series B
5.844%   11/01/50     770   876,550
              881,213
Illinois — 0.1%
Chicago O’Hare International Airport,
Revenue Bonds, BABs, Series B
6.395%   01/01/40     1,380   1,621,026
State of Illinois,
General Obligation Unlimited, Taxable, Series A
3.140%   10/01/24     35   33,833
              1,654,859
Missouri — 0.0%
Health & Educational Facilities Authority of the State of Missouri,
Taxable, Revenue Bonds, Series A
3.652%   08/15/57     20   16,227
New Jersey — 0.3%
New Jersey Turnpike Authority,
Taxable, Revenue Bonds, BABs, Series A
7.102%   01/01/41     1,175   1,441,749
Taxable, Revenue Bonds, BABs, Series F
7.414%   01/01/40     2,050   2,577,463
              4,019,212
New York — 0.0%
New York State Urban Development Corp.,
Taxable, Revenue Bonds, Series B
2.590%   03/15/35     20   16,127
Port Authority of New York & New Jersey,
Revenue Bonds
6.040%   12/01/29     25   26,732
              42,859
Ohio — 0.1%
Ohio State University (The),
Taxable, Revenue Bonds, BABs, Series C
4.910%   06/01/40     695   705,920
Oregon — 0.1%
State of Oregon Department of Transportation,
Taxable, Revenue Bonds, BABs, Series A
5.834%   11/15/34     615   682,887
Pennsylvania — 0.1%
Pennsylvania Turnpike Commission,
Revenue Bonds, BABs, Series B
5.511%   12/01/45     825   899,677
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Municipal Bonds (continued)
Puerto Rico — 0.1%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue,
Revenue Bonds, Series A-1
5.000%   07/01/58     1,710   $1,602,493
Texas — 0.0%
Grand Parkway Transportation Corp.,
Taxable, Revenue Bonds, Series B
3.236%   10/01/52     20   15,032
Texas Private Activity Bond Surface Transportation Corp.,
Taxable, Revenue Bonds, Series B
3.922%   12/31/49     450   366,497
              381,529
 
Total Municipal Bonds

(cost $13,267,792)
  15,243,863
Residential Mortgage-Backed Securities — 4.1%
Alternative Loan Trust,
Series 2004-18CB, Class 3A1
5.250%   09/25/35     12   11,515
Bellemeade Re Ltd.,
Series 2018-03A, Class M1B, 144A, 1 Month LIBOR + 1.850% (Cap N/A, Floor 1.850%)
6.695%(c)   10/25/28     10   9,613
Series 2020-03A, Class M1C, 144A, 1 Month LIBOR + 3.700% (Cap N/A, Floor 3.700%)
8.545%(c)   10/25/30     224   227,194
Series 2021-03A, Class M1B, 144A, 30 Day Average SOFR + 1.400% (Cap N/A, Floor 1.400%)
5.960%(c)   09/25/31     200   195,892
Series 2022-01, Class M1B, 144A, 30 Day Average SOFR + 2.150% (Cap N/A, Floor 2.150%)
6.710%(c)   01/26/32     490   484,650
Series 2022-01, Class M1C, 144A, 30 Day Average SOFR + 3.700% (Cap N/A, Floor 3.700%)
8.260%(c)   01/26/32     1,240   1,205,194
BVRT Financing Trust,
Series 2021-04, Class F, 144A, 1 Month SOFR + 2.000%
6.558%(c)   09/12/26^     1,301   1,300,682
Citigroup Mortgage Loan Trust,
Series 2011-12, Class 3A2, 144A
3.631%(cc)   09/25/47     252   215,918
Connecticut Avenue Securities Trust,
Series 2018-R07, Class 1B1, 144A, 1 Month LIBOR + 4.350% (Cap N/A, Floor 0.000%)
9.195%(c)   04/25/31     370   383,380
Series 2019-R07, Class 1M2, 144A, 1 Month LIBOR + 2.100% (Cap N/A, Floor 0.000%)
6.945%(c)   10/25/39     43   43,148
Series 2022-R04, Class 1B1, 144A, 30 Day Average SOFR + 5.250% (Cap N/A, Floor 0.000%)
9.810%(c)   03/25/42     260   263,985
Credit Suisse Mortgage Trust,
Series 2020-RPL05, Class A1, 144A
3.023%(cc)   08/25/60     324   314,594
 
A29
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Eagle Re Ltd.,
Series 2018-01, Class M1, 144A, 1 Month LIBOR + 1.700% (Cap N/A, Floor 1.700%)
6.545%(c)   11/25/28     585   $584,397
Series 2019-01, Class M1B, 144A, 1 Month LIBOR + 1.800% (Cap N/A, Floor 0.000%)
6.645%(c)   04/25/29     180   180,178
Series 2021-01, Class M1B, 144A, 30 Day Average SOFR + 2.150% (Cap N/A, Floor 2.150%)
6.710%(c)   10/25/33     96   95,803
Series 2021-01, Class M1C, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 2.700%)
7.260%(c)   10/25/33     940   938,350
Series 2021-02, Class M1C, 144A, 30 Day Average SOFR + 3.450% (Cap N/A, Floor 3.450%)
8.010%(c)   04/25/34     910   920,110
Fannie Mae REMIC,
Series 2011-116, Class ZA
3.500%   11/25/41     1,722   1,629,287
Series 2012-34, Class EB
4.000%   04/25/42     1,575   1,511,901
FHLMC Structured Agency Credit Risk Debt Notes,
Series 2020-HQA05, Class B1, 144A, 30 Day Average SOFR + 4.000% (Cap N/A, Floor 0.000%)
8.560%(c)   11/25/50     900   896,906
Series 2020-HQA05, Class M2, 144A, 30 Day Average SOFR + 2.600% (Cap N/A, Floor 0.000%)
7.160%(c)   11/25/50     2,477   2,479,308
Series 2021-DNA02, Class B1, 144A, 30 Day Average SOFR + 3.400% (Cap N/A, Floor 0.000%)
7.960%(c)   08/25/33     3,635   3,457,232
FHLMC Structured Agency Credit Risk REMIC Trust,
Series 2020-DNA02, Class M2, 144A, 1 Month LIBOR + 1.850% (Cap N/A, Floor 0.000%)
6.695%(c)   02/25/50     495   491,954
Series 2020-DNA03, Class B1, 144A, 1 Month LIBOR + 5.100% (Cap N/A, Floor 0.000%)
9.945%(c)   06/25/50     158   167,444
Series 2020-DNA04, Class B1, 144A, 1 Month LIBOR + 6.000% (Cap N/A, Floor 0.000%)
10.845%(c)   08/25/50     1,478   1,596,300
Series 2020-DNA05, Class B1, 144A, 30 Day Average SOFR + 4.800% (Cap N/A, Floor 0.000%)
9.360%(c)   10/25/50     670   705,936
Series 2020-DNA05, Class M2, 144A, 30 Day Average SOFR + 2.800% (Cap N/A, Floor 0.000%)
7.360%(c)   10/25/50     183   184,646
Series 2020-HQA02, Class M2, 144A, 1 Month LIBOR + 3.100% (Cap N/A, Floor 0.000%)
7.945%(c)   03/25/50     36   36,778
Series 2020-HQA04, Class B1, 144A, 1 Month LIBOR + 5.250% (Cap N/A, Floor 0.000%)
10.095%(c)   09/25/50     313   328,082
Series 2021-DNA01, Class B1, 144A, 30 Day Average SOFR + 2.650% (Cap N/A, Floor 0.000%)
7.210%(c)   01/25/51     355   324,020
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 2021-DNA05, Class B1, 144A, 30 Day Average SOFR + 3.050% (Cap N/A, Floor 0.000%)
7.610%(c)   01/25/34     590   $541,785
Series 2021-DNA05, Class M2, 144A, 30 Day Average SOFR + 1.650% (Cap N/A, Floor 0.000%)
6.210%(c)   01/25/34     305   299,703
Series 2021-DNA07, Class M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 0.000%)
6.360%(c)   11/25/41     100   95,007
Series 2021-HQA01, Class B1, 144A, 30 Day Average SOFR + 3.000% (Cap N/A, Floor 0.000%)
7.560%(c)   08/25/33     360   316,909
Series 2021-HQA01, Class M2, 144A, 30 Day Average SOFR + 2.250% (Cap N/A, Floor 0.000%)
6.810%(c)   08/25/33     4,200   4,043,021
Series 2021-HQA03, Class B1, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%)
7.910%(c)   09/25/41     440   400,164
Series 2021-HQA03, Class M2, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%)
6.660%(c)   09/25/41     1,020   918,050
Series 2021-HQA04, Class M2, 144A, 30 Day Average SOFR + 2.350% (Cap N/A, Floor 0.000%)
6.910%(c)   12/25/41     800   720,034
Freddie Mac REMIC,
Series 4289, Class WZ
3.000%   01/15/44     723   664,953
Series 4768, Class GA
3.500%   09/15/45     477   460,983
Series 4939, Class KT
3.000%   07/15/48     447   408,369
GCAT Asset-Backed Notes,
Series 2021-01, Class A1, 144A
2.487%   11/25/49     2,753   2,510,672
Home Re Ltd.,
Series 2019-01, Class M1, 144A, 1 Month LIBOR + 1.650% (Cap N/A, Floor 0.000%)
6.495%(c)   05/25/29     179   179,254
Series 2020-01, Class M1C, 144A, 1 Month LIBOR + 4.150% (Cap N/A, Floor 4.150%)
8.995%(c)   10/25/30     24   24,031
Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 1.600% (Cap N/A, Floor 0.000%)
6.160%(c)   01/25/34     530   523,996
Series 2021-02, Class M1C, 144A, 30 Day Average SOFR + 2.800% (Cap N/A, Floor 0.000%)
7.360%(c)   01/25/34     815   789,689
Legacy Mortgage Asset Trust,
Series 2020-GS01, Class A1, 144A
5.882%   10/25/59     917   916,424
Series 2020-SL01, Class A, 144A
2.734%   01/25/60     244   239,790
New Residential Mortgage Loan Trust,
Series 2018-04A, Class A1S, 144A, 1 Month LIBOR + 0.750% (Cap N/A, Floor 0.750%)
5.595%(c)   01/25/48     404   390,606
 
A30
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Oaktown Re II Ltd.,
Series 2018-01A, Class M1, 144A, 1 Month LIBOR + 1.550% (Cap N/A, Floor 0.000%)
6.395%(c)   07/25/28     89   $88,748
Oaktown Re VII Ltd.,
Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 2.900%)
7.460%(c)   04/25/34     900   888,442
PMT Credit Risk Transfer Trust,
Series 2023-1R, Class A, 144A, 30 Day Average SOFR + 4.400% (Cap N/A, Floor 0.000%)
9.131%(c)   03/27/25     2,900   2,900,000
PNMAC GMSR Issuer Trust,
Series 2018-GT01, Class A, 144A, 1 Month LIBOR + 2.850% (Cap N/A, Floor 2.850%)
7.695%(c)   02/25/25     1,280   1,273,419
Series 2018-GT02, Class A, 144A, 1 Month LIBOR + 2.650% (Cap N/A, Floor 0.000%)
7.495%(c)   08/25/25     1,200   1,186,826
Radnor Re Ltd.,
Series 2020-01, Class M1B, 144A, 1 Month LIBOR + 1.450% (Cap N/A, Floor 1.450%)
6.295%(c)   01/25/30     1,442   1,435,216
Series 2021-02, Class M1A, 144A, 30 Day Average SOFR + 1.850% (Cap N/A, Floor 1.850%)
6.410%(c)   11/25/31     551   549,143
Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 3.700% (Cap N/A, Floor 3.700%)
8.260%(c)   11/25/31     900   878,818
Shamrock Residential (Ireland),
Series 2023-01A, Class A, 144A, 1 Month EURIBOR + 1.000% (Cap N/A, Floor 0.000%)
3.902%(c)   06/24/71   EUR 386   408,819
Structured Adjustable Rate Mortgage Loan Trust,
Series 2004-01, Class 4A3
5.193%(cc)   02/25/34     177   163,445
Series 2004-18, Class 3A1
4.420%(cc)   12/25/34     1,119   1,012,962
TFS (Spain),
Series 2018-03
0.000%(s)   04/16/40^   EUR —(r)   1
 
Total Residential Mortgage-Backed Securities

(cost $47,795,525)
  46,413,676
Sovereign Bonds — 2.2%
Bermuda Government International Bond (Bermuda),
Sr. Unsec’d. Notes, 144A
2.375%   08/20/30     570   483,538
Brazil Minas SPE via State of Minas Gerais (Brazil),
Gov’t. Gtd. Notes
5.333%   02/15/28     803   788,607
Colombia Government International Bond (Colombia),
Sr. Unsec’d. Notes
4.500%   01/28/26     250   239,500
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds (continued)
Dominican Republic International Bond (Dominican Republic),
Sr. Unsec’d. Notes, 144A
5.500%   02/22/29     1,180   $1,107,946
6.000%   07/19/28     575   559,834
Egypt Government International Bond (Egypt),
Sr. Unsec’d. Notes, 144A, MTN
4.750%   04/16/26   EUR 300   238,787
Hellenic Republic Government International Bond (Greece),
Sr. Unsec’d. Notes
5.200%   07/17/34   EUR 1,500   1,674,046
Hungary Government International Bond (Hungary),
Sr. Unsec’d. Notes
5.375%   03/25/24     50   49,962
Indonesia Government International Bond (Indonesia),
Sr. Unsec’d. Notes
1.100%   03/12/33   EUR 410   326,814
1.450%   09/18/26   EUR 375   372,068
3.375%   07/30/25   EUR 3,125   3,349,453
Sr. Unsec’d. Notes, EMTN
3.750%   06/14/28   EUR 1,250   1,328,343
Japan Bank for International Cooperation (Japan),
Gov’t. Gtd. Notes, Series DTC
2.500%   05/23/24     1,000   974,791
Japan Finance Organization for Municipalities (Japan),
Sr. Unsec’d. Notes, 144A
3.375%   09/27/23     600   596,183
Sr. Unsec’d. Notes, 144A, MTN
1.750%   09/05/24     600   576,142
3.000%   03/12/24     600   591,443
Peruvian Government International Bond (Peru),
Sr. Unsec’d. Notes
2.783%   01/23/31     10   8,530
Qatar Government International Bond (Qatar),
Sr. Unsec’d. Notes, 144A
5.103%   04/23/48     780   791,700
Republic of Italy Government International Bond (Italy),
Sr. Unsec’d. Notes
2.875%   10/17/29     200   170,665
Sr. Unsec’d. Notes, MTN
5.375%   06/15/33     4,930   4,944,167
Romanian Government International Bond (Romania),
Sr. Unsec’d. Notes, 144A, MTN
3.875%   10/29/35   EUR 278   229,133
Sr. Unsec’d. Notes, EMTN
3.875%   10/29/35   EUR 398   328,040
Serbia International Bond (Serbia),
Sr. Unsec’d. Notes
1.500%   06/26/29   EUR 1,443   1,189,643
3.125%   05/15/27   EUR 2,371   2,313,893
Sr. Unsec’d. Notes, 144A
1.650%   03/03/33   EUR 249   177,349
6.250%   05/26/28     440   443,850
Ukraine Government International Bond (Ukraine),
Sr. Unsec’d. Notes
7.750%   09/01/24(d)     920   200,847
8.994%   02/01/26(d)     200   36,538
 
A31
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds (continued)
Sr. Unsec’d. Notes, 144A
4.375%   01/27/32(d)   EUR 1,090   $200,958
7.750%   09/01/24(d)     930   203,031
8.994%   02/01/26(d)     200   36,538
9.750%   11/01/30(d)     400   74,200
Uruguay Government International Bond (Uruguay),
Sr. Unsec’d. Notes
4.975%   04/20/55(a)     500   491,250
 
Total Sovereign Bonds

(cost $30,782,032)
  25,097,789
U.S. Government Agency Obligations — 15.2%
Federal Home Loan Mortgage Corp.
3.500%   02/01/47     727   687,356
5.500%   10/01/33     352   364,772
5.500%   06/01/34     3   2,731
6.000%   11/01/33     28   28,669
6.000%   05/01/34     40   41,274
6.000%   06/01/34     65   66,407
6.250%   07/15/32(k)     720   858,039
6.500%   07/01/32     4   4,469
6.500%   07/01/32     9   9,243
6.500%   08/01/32     19   19,956
6.500%   08/01/32     20   20,743
6.500%   08/01/32     21   21,854
6.500%   09/01/32     23   23,758
6.500%   09/01/32     67   69,532
6.750%   03/15/31(k)     600   719,000
Federal National Mortgage Assoc.
2.000%   TBA     10,500   8,688,051
3.000%   TBA(tt)     24,500   21,982,859
3.500%   TBA(tt)     19,500   18,119,004
4.000%   TBA     23,500   22,486,652
4.500%   TBA(tt)     39,500   38,701,935
4.500%   08/01/40     860   864,981
5.000%   TBA(tt)     12,000   11,968,125
5.000%   TBA     17,500   17,451,465
5.500%   TBA     1,000   1,009,785
5.500%   TBA(tt)     4,000   4,040,391
5.500%   02/01/33     5   5,173
5.500%   02/01/33     8   7,748
5.500%   03/01/33     10   10,755
5.500%   03/01/33     18   18,172
5.500%   03/01/33     21   22,169
5.500%   04/01/33     3   2,750
5.500%   04/01/33     13   13,129
5.500%   04/01/33     17   17,236
5.500%   04/01/33     17   17,240
5.500%   07/01/33     13   13,427
5.500%   07/01/33     16   16,164
5.500%   08/01/33     13   13,223
5.500%   02/01/34     14   14,928
5.500%   04/01/34     13   13,070
5.500%   06/01/34     16   16,499
6.000%   TBA     1,500   1,530,059
6.000%   10/01/33     1   1,496
6.000%   10/01/33     158   162,183
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
6.000%   03/01/34     22   $22,744
6.000%   02/01/35     92   95,500
6.000%   11/01/36     27   27,763
6.500%   08/01/32     62   64,038
6.500%   09/01/32     51   52,684
6.500%   09/01/32     81   84,829
6.500%   10/01/32     37   37,997
6.500%   04/01/33     67   70,169
6.500%   11/01/33     3   2,703
6.625%   11/15/30(k)     830   983,595
7.000%   05/01/32     46   46,352
7.000%   06/01/32     4   3,689
7.125%   01/15/30(k)     785   940,167
Government National Mortgage Assoc.
3.000%   TBA     4,500   4,098,840
3.500%   TBA     13,500   12,655,723
3.500%   01/20/48     107   101,853
4.000%   02/20/49     221   214,521
5.500%   01/15/33     29   30,215
5.500%   02/15/33     16   16,302
5.500%   05/15/33     47   47,733
5.500%   05/15/33     131   133,443
5.500%   06/15/33     144   148,166
5.500%   09/15/33     21   21,422
5.500%   07/15/35     30   31,257
6.000%   12/15/32     62   64,930
6.000%   11/15/33     24   25,166
6.000%   01/15/34     6   6,199
6.000%   06/20/34     166   175,261
6.000%   11/15/34     226   233,976
6.500%   09/15/32     29   29,726
6.500%   09/15/32     79   81,617
6.500%   09/15/32     116   119,842
6.500%   11/15/33     65   67,456
 
Total U.S. Government Agency Obligations

(cost $168,941,217)
  170,882,350
U.S. Treasury Obligations — 8.1%
U.S. Treasury Bonds
1.125%   05/15/40     30   19,964
1.750%   08/15/41     5,286   3,826,568
1.875%   02/15/41     138   102,867
2.000%   11/15/41     2,719   2,051,146
2.250%   05/15/41(a)(h)     65,845   52,295,334
2.250%   08/15/49     685   514,927
2.250%   02/15/52     2,955   2,204,707
2.375%   02/15/42     1,255   1,008,902
2.375%   11/15/49     225   173,848
2.500%   02/15/46(k)     1,580   1,254,619
2.875%   05/15/52     2,565   2,195,079
3.000%   05/15/45(k)     4,065   3,539,091
3.000%   02/15/48     1,480   1,290,837
3.125%   02/15/43(k)     2,460   2,210,541
3.375%   08/15/42     5,210   4,893,330
3.875%   02/15/43     5   5,044
4.000%   11/15/52     1,910   2,027,883
 
A32
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Treasury Obligations (continued)
U.S. Treasury Notes
2.375%   03/31/29(k)     615   $574,160
3.500%   02/15/33     375   375,644
U.S. Treasury Strips Coupon
1.467%(s)   11/15/41     500   240,410
2.056%(s)   11/15/38     130   71,668
2.208%(s)   05/15/39     1,575   849,516
2.335%(s)   08/15/44     2,500   1,067,383
2.364%(s)   05/15/45     3,420   1,420,636
2.377%(s)   08/15/45     1,250   515,186
2.387%(s)   05/15/43     4,015   1,809,102
2.395%(s)   11/15/43     619   272,916
2.423%(s)   05/15/44(k)     7,225   3,119,168
2.423%(s)   11/15/40     430   216,898
3.143%(s)   08/15/41     1,350   656,068
3.176%(s)   08/15/40     120   61,247
 
Total U.S. Treasury Obligations

(cost $114,665,373)
  90,864,689
    
      Shares  
Common Stocks — 0.2%
Chemicals — 0.0%
TPC Group, Inc.*^
14,880 297,600
Gas Utilities — 0.1%
Ferrellgas Partners LP (Class B Stock)^
5,622 969,405
Oil, Gas & Consumable Fuels — 0.1%
Chesapeake Energy Corp.
16,284 1,238,235
 
Total Common Stocks

(cost $1,356,824)
2,505,240
Preferred Stocks — 0.2%
Banks — 0.1%
Citigroup Capital XIII, 11.172%(c), 3 Month LIBOR + 6.370%, Maturing 10/30/40
45,000 1,284,300
Capital Markets — 0.1%
State Street Corp., 5.350%(c), 3 Month LIBOR + 3.709%, Series G, Maturing 03/15/26(oo)
35,000 877,450
 
Total Preferred Stocks

(cost $2,000,000)
2,161,750
 
Total Long-Term Investments

(cost $1,250,355,577)
1,142,878,491
      Shares   Value
 
Short-Term Investments — 17.6%
Affiliated Mutual Funds
PGIM Core Ultra Short Bond Fund(wa)
137,107,872   $137,107,872
PGIM Institutional Money Market Fund

(cost $61,460,911; includes $61,198,305 of cash collateral for securities on loan)(b)(wa)
61,500,468   61,469,718
 
Total Short-Term Investments

(cost $198,568,783)
  198,577,590
 
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN—119.0%

(cost $1,448,924,360)
  1,341,456,081
Options Written*~ — (0.0)%
(premiums received $49,062)
  (15,712)
 
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN—119.0%

(cost $1,448,875,298)
  1,341,440,369
 
Liabilities in excess of other assets(z) — (19.0)%
  (213,877,370)
 
Net Assets — 100.0%
  $1,127,562,999
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
CAD Canadian Dollar
EUR Euro
GBP British Pound
MXN Mexican Peso
ZAR South African Rand
    
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.
A Annual payment frequency for swaps
BABs Build America Bonds
BARC Barclays Bank PLC
BNP BNP Paribas S.A.
BOA Bank of America, N.A.
CDX Credit Derivative Index
CGM Citigroup Global Markets, Inc.
CITI Citibank, N.A.
CLO Collateralized Loan Obligation
CSI Credit Suisse International
DAC Designated Activity Company
EMTN Euro Medium Term Note
EURIBOR Euro Interbank Offered Rate
FHLMC Federal Home Loan Mortgage Corporation
FNMA Federal National Mortgage Association
GMTN Global Medium Term Note
GSI Goldman Sachs International
HSBC HSBC Bank PLC
IO Interest Only (Principal amount represents notional)
JPM JPMorgan Chase Bank N.A.
LIBOR London Interbank Offered Rate
LP Limited Partnership
M Monthly payment frequency for swaps
 
A33
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
MSI Morgan Stanley & Co International PLC
MTN Medium Term Note
OTC Over-the-counter
PIK Payment-in-Kind
Q Quarterly payment frequency for swaps
REITs Real Estate Investment Trust
REMIC Real Estate Mortgage Investment Conduit
S&P Standard & Poor’s
SOFR Secured Overnight Financing Rate
SONIA Sterling Overnight Index Average
T Swap payment upon termination
TBA To Be Announced
TD The Toronto-Dominion Bank
USOIS United States Overnight Index Swap
    
* Non-income producing security.
# Principal or notional amount is shown in U.S. dollars unless otherwise stated.
~ See tables subsequent to the Schedule of Investments for options detail. Excludes centrally cleared swaptions.
^ Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $5,373,231 and 0.5% of net assets.
(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $60,531,515; cash collateral of $61,198,305 (included in liabilities) was received with which the Portfolio 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 Portfolio 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.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2023.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2023. 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.
(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.
(f) Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $3,503,829. The aggregate value of $2,940,610 is 0.3% of net assets.
(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.
(h) Represents security, or a portion thereof, segregated as collateral for OTC derivatives.
(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.
(oo) Perpetual security. Maturity date represents next call date.
(r) Principal or notional amount is less than $500 par.
(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.
(tt) All or partial principal amount represents “TBA” mortgage dollar rolls. The aggregate mortgage dollar roll principal amount of $99,500,000 is 8.8% of net assets.
(wa) PGIM Investments LLC, the manager of the Portfolio, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund, if applicable.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
 
Options Written:
OTC Traded  
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		Value
FNMA TBA 5.50%   Call   BOA   04/06/23     $100.75   —     4,000 $(15,218)  
FNMA TBA 5.50%   Put   CGM   04/06/23     $99.64   —     8,000 (248)  
Total OTC Traded (premiums received $49,062)                     $(15,466)  
    
OTC Swaptions
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike   Receive   Pay   Notional
Amount
(000)# 		Value
GS_21-PJA††^   Put   GSI   06/17/24   0.25%   0.25%(M)   GS_21-PJA(M)     15,090   $(246)
(premiums received $0)                        
Total Options Written (premiums received $49,062)       $(15,712)  
†† The value of the contract, GS_21-PJA is derived from the aggregate credit performance of a pool of senior prime jumbo mortgages. The pool of prime jumbo mortgages is reset monthly.
A34
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Options Purchased:
Centrally Cleared Swaptions    
Description   Call/
Put 		  Expiration
Date 		  Strike   Receive   Pay   Notional
Amount
(000)# 		  Value at
March 31,
2023 		  Unrealized
Appreciation
(Depreciation)
CDX.NA.IG.39.V1, 12/20/27   Put   04/19/23   0.80%   CDX.NA.IG.39.V1(Q)   1.00%(Q)     14,770   $10,617   $(37,976)
CDX.NA.IG.39.V1, 12/20/27   Put   04/19/23   0.83%   CDX.NA.IG.39.V1(Q)   1.00%(Q)     7,420   3,986   (10,450)
CDX.NA.IG.39.V1, 12/20/27   Put   04/19/23   0.85%   CDX.NA.IG.39.V1(Q)   1.00%(Q)     12,470   5,074   (34,331)
CDX.NA.IG.39.V1, 12/20/27   Put   04/19/23   0.88%   CDX.NA.IG.39.V1(Q)   1.00%(Q)     14,770   4,642   (51,779)
Total Centrally Cleared Swaptions (cost $158,855)   $24,319   $(134,536)
Options Written:
Centrally Cleared Swaptions
Description   Call/
Put 		  Expiration
Date 		  Strike   Receive   Pay   Notional
Amount
(000)# 		  Value at
March 31,
2023 		  Unrealized
Appreciation
(Depreciation)
CDX.NA.IG.39.V1, 12/20/27   Call   04/19/23   0.70%   CDX.NA.IG.39.V1(Q)   1.00%(Q)     7,420   $(6,105)   $4,877
CDX.NA.IG.39.V1, 12/20/27   Call   04/19/23   0.75%   CDX.NA.IG.39.V1(Q)   1.00%(Q)     12,470   (23,907)   7,268
CDX.NA.IG.39.V1, 12/20/27   Call   04/19/23   0.78%   CDX.NA.IG.39.V1(Q)   1.00%(Q)     14,770   (38,902)   (3,011)
CDX.NA.IG.39.V1, 12/20/27   Put   04/19/23   1.10%   1.00%(Q)   CDX.NA.IG.39.V1(Q)     14,770   (1,367)   14,732
CDX.NA.IG.39.V1, 12/20/27   Put   04/19/23   1.15%   1.00%(Q)   CDX.NA.IG.39.V1(Q)     14,770   (1,237)   21,509
CDX.NA.IG.39.V1, 12/20/27   Put   04/19/23   1.20%   1.00%(Q)   CDX.NA.IG.39.V1(Q)     7,420   (573)   4,992
CDX.NA.IG.39.V1, 12/20/27   Put   06/21/23   1.20%   1.00%(Q)   CDX.NA.IG.39.V1(Q)     14,740   (10,052)   25,324
Total Centrally Cleared Swaptions (premiums received $157,834)   $(82,143)   $75,691
    
Futures contracts outstanding at March 31, 2023:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
38   2 Year U.S. Treasury Notes   Jun. 2023   $7,845,219   $77,761
851   5 Year U.S. Treasury Notes   Jun. 2023   93,191,146   342,987
882   10 Year U.S. Treasury Notes   Jun. 2023   101,361,098   1,341,476
235   10 Year U.S. Ultra Treasury Notes   Jun. 2023   28,468,048   862,046
                2,624,270
Short Positions:
79   5 Year Euro-Bobl   Jun. 2023   10,099,428   (238,289)
90   10 Year Euro-Bund   Jun. 2023   13,258,663   (449,131)
355   20 Year U.S. Treasury Bonds   Jun. 2023   46,560,469   (1,756,011)
1   30 Year U.S. Ultra Treasury Bonds   Jun. 2023   141,125   (2,439)
38   Euro Schatz Index   Jun. 2023   4,355,797   (44,831)
                (2,490,701)
                $133,569
Forward foreign currency exchange contracts outstanding at March 31, 2023:
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
British Pound,
Expiring 04/04/23   BNP   GBP 10,153   $12,457,964   $12,525,906   $67,942   $—
Euro,
Expiring 04/04/23   HSBC   EUR 94,716   102,113,790   102,742,325   628,535   —
Expiring 04/04/23   JPM   EUR 1,092   1,177,237   1,184,789   7,552   —
A35
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Forward foreign currency exchange contracts outstanding at March 31, 2023 (continued):
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Mexican Peso,
Expiring 06/21/23   JPM   MXN 15,980   $870,127   $872,662   $2,535   $—
              $116,619,118   $117,325,682   706,564   —
    
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
British Pound,
Expiring 04/04/23   BOA   GBP 485   $585,000   $598,040   $—   $(13,040)
Expiring 04/04/23   MSI   GBP 9,668   11,713,715   11,927,866   —   (214,151)
Expiring 05/02/23   BNP   GBP 10,153   12,464,990   12,533,210   —   (68,220)
Euro,
Expiring 04/04/23   CITI   EUR 46   49,098   49,920   —   (822)
Expiring 04/04/23   TD   EUR 95,763   102,098,597   103,877,193   —   (1,778,596)
Expiring 05/02/23   GSI   EUR 1,164   1,266,902   1,264,943   1,959   —
Expiring 05/02/23   HSBC   EUR 94,716   102,279,543   102,904,792   —   (625,249)
South African Rand,
Expiring 06/21/23   BNP   ZAR 11,532   615,262   643,022   —   (27,760)
              $231,073,107   $233,798,986   1,959   (2,727,838)
                      $708,523   $(2,727,838)
Credit default swap agreements outstanding at March 31, 2023:
Reference Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied
Credit
Spread at
March 31,
2023(4) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:
GS_21-PJA   04/14/23   0.500%(M)     9,194   *   $7,909   $(859)   $8,768   GSI
    
Reference Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):
Republic of Italy   12/20/27   1.000%(Q)   EUR 1,755   $(25,102)   $(62,956)   $37,854   BARC
U.S. Treasury Notes   12/20/27   0.250%(Q)   EUR 670   7,254   3,705   3,549   BARC
U.S. Treasury Notes   12/20/27   0.250%(Q)   EUR 670   7,254   3,705   3,549   BARC
U.S. Treasury Notes   12/20/32   0.250%(Q)   EUR 340   5,436   4,133   1,303   BNP
United Mexican States   06/20/23   1.000%(Q)     665   (1,444)   214   (1,658)   CITI
United Mexican States   06/20/23   1.000%(Q)     655   (1,422)   535   (1,957)   CITI
United Mexican States   06/20/23   1.000%(Q)     220   (478)   201   (679)   CITI
United Mexican States   06/20/23   1.000%(Q)     220   (477)   185   (662)   CITI
United Mexican States   06/20/23   1.000%(Q)     215   (467)   65   (532)   CITI
United Mexican States   06/20/23   1.000%(Q)     115   (250)   37   (287)   CITI
United Mexican States   12/20/24   1.000%(Q)     160   (1,564)   388   (1,952)   CITI
United Mexican States   12/20/24   1.000%(Q)     130   (1,270)   378   (1,648)   CITI
                    $(12,530)   $(49,410)   $36,880    
    
A36
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Credit default swap agreements outstanding at March 31, 2023: (continued)
Reference Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied
Credit
Spread at
March 31,
2023(4) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):
International Bank for Reconstruction & Development   06/20/23   0.250%(Q)     10,710   0.194%   $2,214   $2,342   $(128)   BOA
Petroleos Mexicanos   06/20/23   1.000%(Q)     2,205   2.562%   (6,891)   (3,260)   (3,631)   CSI
Petroleos Mexicanos   06/20/23   1.000%(Q)     550   2.562%   (1,719)   (1,574)   (145)   CITI
Petroleos Mexicanos   06/20/23   1.000%(Q)     545   2.562%   (1,704)   (1,873)   169   CITI
Petroleos Mexicanos   06/20/23   1.000%(Q)     185   2.562%   (578)   (651)   73   CITI
Petroleos Mexicanos   06/20/23   1.000%(Q)     185   2.562%   (579)   (640)   61   CITI
Petroleos Mexicanos   06/20/23   1.000%(Q)     180   2.562%   (563)   (518)   (45)   CITI
Petroleos Mexicanos   06/20/23   1.000%(Q)     90   2.562%   (281)   (257)   (24)   CITI
Petroleos Mexicanos   12/20/24   1.000%(Q)     160   4.158%   (8,069)   (5,202)   (2,867)   CITI
Petroleos Mexicanos   12/20/24   1.000%(Q)     130   4.158%   (6,556)   (4,277)   (2,279)   CITI
                      $(24,726)   $(15,910)   $(8,816)    
    
Reference Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Value at
Trade Date 		  Value at
March 31,
2023 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):
CDX.NA.IG.40.V1 06/20/28   1.000%(Q)     98,369   $(479,653)   $(1,157,849)   $(678,196)
The Portfolio entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) If the Portfolio is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2) If the Portfolio is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(3) Notional amount represents the maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(4) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Portfolio is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.
* When an implied credit spread is not available, reference the fair value of credit default swap agreements on credit indices and asset-backed securities. Where the Portfolio is the seller of protection, it serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, when compared to the notional amount of the swap, represents a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.
A37
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Interest rate swap agreements outstanding at March 31, 2023:
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
March 31,
2023 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements:
GBP 635   05/08/23   0.950%(A)   1 Day SONIA(1)(A)/ 4.178%   $(14,468)   $25,368   $39,836
GBP 3,946   05/08/26   1.000%(A)   1 Day SONIA(1)(A)/ 4.178%   (184,608)   487,205   671,813
GBP 2,920   05/08/27   1.050%(A)   1 Day SONIA(1)(A)/ 4.178%   150,731   425,916   275,185
GBP 2,100   05/08/30   1.100%(A)   1 Day SONIA(1)(A)/ 4.178%   (145,549)   422,386   567,935
GBP 767   05/08/31   1.150%(A)   1 Day SONIA(2)(A)/ 4.178%   40,330   (164,103)   (204,433)
GBP 740   05/08/32   1.150%(A)   1 Day SONIA(1)(A)/ 4.178%   52,659   185,594   132,935
GBP 230   05/08/34   1.200%(A)   1 Day SONIA(1)(A)/ 4.178%   (9,088)   59,928   69,016
  41,700   03/08/24   5.386%(T)   1 Day SOFR(2)(T)/ 4.870%   (140)   255,565   255,705
  13,780   03/08/25   4.946%(A)   1 Day SOFR(2)(A)/ 4.870%   —   210,829   210,829
  17,596   03/09/25   5.110%(A)   1 Day SOFR(2)(A)/ 4.870%   —   324,228   324,228
  35,145   03/10/25   5.088%(A)   1 Day SOFR(2)(A)/ 4.870%   —   632,477   632,477
                    $(110,133)   $2,865,393   $2,975,526
    
(1) The Portfolio pays the fixed rate and receives the floating rate.
(2) The Portfolio pays the floating rate and receives the fixed rate.
    
Total return swap agreements outstanding at March 31, 2023:
Reference Entity   Financing
Rate 		  Counterparty   Termination
Date 		  Long (Short)
Notional
Amount
(000)#(1) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation)(2)
OTC Total Return Swap Agreements:
Total Return Benchmark Bond Index(T)††   1 Day USOIS -50 bps(T)/ 4.330%   GSI   06/20/23   (20,765)   $805,556   $—   $805,556
U.S. Treasury Bond(T)   1 Day USOIS +10 bps(T)/ 4.930%   JPM   04/18/23   8,530   (132,954)   —   (132,954)
U.S. Treasury Bond(T)   1 Day USOIS +10 bps(T)/ 4.930%   GSI   04/19/23   15,820   (475,662)   —   (475,662)
U.S. Treasury Bond(T)   1 Day USOIS +10 bps(T)/ 4.930%   JPM   04/21/23   15,190   (387,791)   —   (387,791)
U.S. Treasury Bond(T)   1 Day USOIS +11 bps(T)/ 4.940%   JPM   04/26/23   12,265   (374,035)   —   (374,035)
U.S. Treasury Bond(T)   1 Day USOIS +10 bps(T)/ 4.930%   GSI   05/01/23   17,905   (317,394)   —   (317,394)
U.S. Treasury Bond(T)   1 Day USOIS +11 bps(T)/ 4.940%   JPM   06/02/23   15,220   682,294   —   682,294
                    $(199,986)   $—   $(199,986)
(1) On a long total return swap, the Portfolio receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Portfolio makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate.
(2) Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).
†† See the table below for the swap constituents. To the extent that any swap is composed of greater than 50 constituents, the Portfolio is only required to disclose the top 50.
The following table represents the top 50 individual positions and related values of underlying securities of Total Return Benchmark Bond Index total return swap with GSI, as of March 31, 2023, termination date 06/20/2023:
A38
PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2023 (unaudited)
Corporate Bond:
Reference Entity   Shares   Market
Value 		  % of Total
Index Value
Bank of America Corp.   40,319,400   $ 31,637,565   7.06%
Wells Fargo & Co.   34,230,900   25,949,276   5.79%
Morgan Stanley   27,871,800   21,916,857   4.89%
Goldman Sachs Group, Inc.   28,954,200   20,909,136   4.66%
Citigroup, Inc.   26,654,100   19,370,450   4.32%
AT&T, Inc.   24,354,000   17,722,916   3.95%
Verizon Communications, Inc.   20,024,400   15,333,325   3.42%
Anheuser-Busch InBev Worldwide, Inc.   15,694,800   14,917,907   3.33%
Comcast Corp.   19,889,100   13,811,779   3.08%
Oracle Corp.   15,559,500   11,699,192   2.61%
Apple, Inc.   16,236,000   11,502,006   2.57%
AbbVie, Inc.   10,282,800   9,229,609   2.06%
Microsoft Corp.   10,553,400   8,009,211   1.79%
CVS Health Corp.   9,200,400   7,853,914   1.75%
Amazon.com, Inc.   10,147,500   7,814,203   1.74%
UnitedHealth Group, Inc.   8,523,900   6,516,298   1.45%
Visa, Inc.   9,335,700   5,919,588   1.32%
Shell International Finance BV   6,900,300   5,373,793   1.20%
The Walt Disney Co.   6,494,400   5,316,992   1.19%
T-Mobile USA, Inc.   7,035,600   5,177,053   1.15%
Intel Corp.   7,441,500   5,115,772   1.14%
ExxonMobil Corp.   6,223,800   5,066,694   1.13%
Home Depot, Inc.   7,982,700   5,042,412   1.12%
Broadcom, Inc.   6,629,700   4,927,409   1.10%
Pfizer, Inc.   6,494,400   4,716,168   1.05%
Amgen, Inc.   6,765,000   4,687,112   1.05%
Telefonica Emisiones, S.A.U.   5,412,000   4,491,676   1.00%
Bristol-Myers Squibb Co.   6,494,400   4,416,631   0.99%
General Motors Co.   4,870,800   4,340,449   0.97%
Cigna Corp.   5,547,300   4,089,756   0.91%
Intercontinental Exchange, Inc.   5,547,300   3,966,338   0.88%
Enterprise Products Operating LLC   5,412,000   3,947,458   0.88%
Raytheon Technologies Corp.   5,682,600   3,936,344   0.88%
PepsiCo, Inc.   4,464,900   3,881,482   0.87%
Pacific Gas & Electric Co.   4,600,200   3,845,306   0.86%
B.A.T. Capital Corp.   5,547,300   3,781,708   0.84%
Gilead Sciences, Inc.   5,276,700   3,721,821   0.83%
Altria Group, Inc.   5,412,000   3,678,671   0.82%
Johnson & Johnson   5,276,700   3,555,998   0.79%
Vodafone Group PLC   4,194,300   3,435,739   0.77%
McDonald’s Corp.   3,788,400   3,413,322   0.76%
Coca-Cola Co.   4,194,300   3,260,876   0.73%
FedEx Corp.   3,111,900   3,110,980   0.69%
BP Capital Markets America, Inc.   4,194,300   3,043,469   0.68%
Anthem, Inc.   3,788,400   2,969,735   0.66%
American International Group, Inc.   3,111,900   2,695,083   0.60%
International Business Machines Corp.   3,788,400   2,606,094   0.58%
Union Pacific Corp.   3,653,100   2,599,493   0.58%
MidAmerican Energy Co.   3,788,400   2,579,673   0.58%
Berkshire Hathaway Finance Corp.   3,923,700   2,546,364   0.57%
        $379,451,103    
             
Other information regarding the Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
A39