NPORT-EX 2 PI62340Pru9.30.23.htm
PSF PGIM TOTAL RETURN BOND PORTFOLIO
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Long-Term Investments — 100.5%
Asset-Backed Securities — 22.4%
Automobiles — 1.0%
AmeriCredit Automobile Receivables Trust,
Series 2020-02, Class D
2.130%   03/18/26     300   $286,824
Avis Budget Rental Car Funding AESOP LLC,
Series 2020-02A, Class A, 144A
2.020%   02/20/27     600   547,527
Series 2023-03A, Class B, 144A
6.120%   02/22/28     1,200   1,182,782
Exeter Automobile Receivables Trust,
Series 2020-03A, Class D
1.730%   07/15/26     165   162,564
Series 2021-02A, Class C
0.980%   06/15/26     6   5,888
Series 2021-02A, Class D
1.400%   04/15/27     20   18,584
Hertz Vehicle Financing III LLC,
Series 2022-01A, Class C, 144A
2.630%   06/25/26     200   186,434
Hertz Vehicle Financing III LP,
Series 2021-02A, Class A, 144A
1.680%   12/27/27     2,300   2,017,737
Series 2021-02A, Class B, 144A
2.120%   12/27/27     200   175,289
Hertz Vehicle Financing LLC,
Series 2021-01A, Class C, 144A
2.050%   12/26/25     100   94,753
Series 2022-02A, Class B, 144A
2.650%   06/26/28     400   349,966
JPMorgan Chase Bank, NA,
Series 2020-01, Class R, 144A
33.784%   01/25/28     727   840,214
Series 2020-02, Class D, 144A
1.487%   02/25/28     70   69,114
OneMain Direct Auto Receivables Trust,
Series 2019-01A, Class A, 144A
3.630%   09/14/27     3,500   3,397,081
Series 2019-01A, Class B, 144A
3.950%   11/14/28     800   757,008
Series 2023-01A, Class C, 144A
6.140%   02/14/31     1,300   1,267,097
Santander Bank Auto Credit-Linked Notes,
Series 2022-A, Class C, 144A
7.375%   05/15/32     336   333,754
Series 2022-C, Class E, 144A
11.366%   12/15/32     191   192,398
Santander Drive Auto Receivables Trust,
Series 2020-02, Class D
2.220%   09/15/26     225   221,371
Series 2020-03, Class D
1.640%   11/16/26     1,078   1,054,125
              13,160,510
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Asset-Backed Securities (continued)
Collateralized Debt Obligation — 0.1%
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%)
6.763%(c)   01/15/37     990   $981,303
Collateralized Loan Obligations — 19.7%
AlbaCore Euro CLO DAC (Ireland),
Series 04A, Class B1, 144A, 3 Month EURIBOR + 2.600% (Cap N/A, Floor 2.600%)
6.263%(c)   07/15/35   EUR 5,500   5,768,028
Allegro CLO Ltd. (Cayman Islands),
Series 2019-01A, Class AR, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%)
6.738%(c)   07/20/32     3,750   3,722,722
Anchorage Capital CLO Ltd. (Cayman Islands),
Series 2023-26A, Class A1, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%)
7.320%(c)   07/19/34     10,000   10,056,498
Ares European CLO DAC (Ireland),
Series 11A, Class A1R, 144A, 3 Month EURIBOR + 0.770% (Cap N/A, Floor 0.770%)
4.433%(c)   04/15/32   EUR 10,000   10,404,468
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%)
7.908%(c)   07/15/30     4,187   4,208,027
Bain Capital Credit CLO Ltd. (Cayman Islands),
Series 2019-02A, Class AR, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 1.100%)
6.670%(c)   10/17/32     3,500   3,473,750
Balboa Bay Loan Funding Ltd. (Cayman Islands),
Series 2020-01A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%)
6.715%(c)   01/20/32     4,500   4,490,024
Battalion CLO Ltd. (Cayman Islands),
Series 2016-10A, Class A1R2, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%)
6.777%(c)   01/25/35     9,000   8,926,237
Series 2018-12A, Class A1, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%)
6.708%(c)   05/17/31     2,963   2,945,061
Carlyle Euro CLO DAC (Ireland),
Series 2021-02A, Class A1, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%)
4.653%(c)   10/15/35   EUR 6,500   6,697,689
Series 2021-02A, Class A2B, 144A
2.100%   10/15/35   EUR 6,250   5,503,950
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%)
4.531%(c)   11/15/31   EUR 9,996   10,384,522
CIFC Funding Ltd. (Cayman Islands),
Series 2013-03RA, Class A1, 144A, 3 Month SOFR + 1.242% (Cap N/A, Floor 0.980%)
6.587%(c)   04/24/31     1,500   1,494,000
A1

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Series 2015-01A, Class ARR, 144A, 3 Month SOFR + 1.372% (Cap N/A, Floor 1.110%)
6.717%(c)   01/22/31     1,975   $1,970,431
Elevation CLO Ltd. (Cayman Islands),
Series 2014-02A, Class A1R, 144A, 3 Month SOFR + 1.492% (Cap N/A, Floor 0.000%)
6.800%(c)   10/15/29     3,385   3,379,444
Series 2017-06A, Class A1, 144A, 3 Month SOFR + 1.542% (Cap N/A, Floor 1.542%)
6.850%(c)   07/15/29     140   139,762
Generate CLO Ltd. (Cayman Islands),
Series 02A, Class AR, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%)
6.757%(c)   01/22/31     1,964   1,960,127
Greenwood Park CLO Ltd. (Cayman Islands),
Series 2018-01A, Class A2, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 0.000%)
6.580%(c)   04/15/31     6,000   5,978,483
Greywolf CLO Ltd. (Cayman Islands),
Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.290% (Cap N/A, Floor 0.000%)
6.641%(c)   04/26/31     3,500   3,484,229
Series 2020-03RA, Class A1R, 144A, 3 Month SOFR + 1.550% (Cap N/A, Floor 1.290%)
6.896%(c)   04/15/33     5,000   4,953,085
Hayfin Emerald CLO DAC (Ireland),
Series 05A, Class A, 144A, 3 Month EURIBOR + 1.100% (Cap N/A, Floor 1.100%)
4.887%(c)   11/17/32   EUR 10,500   10,962,837
HPS Loan Management Ltd. (Cayman Islands),
Series 2015-06A, Class A1R, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 0.000%)
6.631%(c)   02/05/31     3,608   3,583,870
ICG US CLO Ltd. (Cayman Islands),
Series 2014-03A, Class A1RR, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%)
6.643%(c)   04/25/31     2,211   2,202,095
Jamestown CLO Ltd. (Cayman Islands),
Series 2019-14A, Class A1AR, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%)
6.788%(c)   10/20/34     6,625   6,518,171
Series 2019-14A, Class A2R, 144A, 3 Month SOFR + 2.012% (Cap N/A, Floor 1.750%)
7.338%(c)   10/20/34     6,750   6,721,650
Madison Park Funding Ltd. (Cayman Islands),
Series 12A, Class AR, 144A, 3 Month SOFR + 1.092% (Cap N/A, Floor 0.000%)
6.437%(c)   04/22/27     4,461   4,452,412
Series 2019-34A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%)
6.733%(c)   04/25/32     2,000   1,994,273
MidOcean Credit CLO (Cayman Islands),
Series 2014-03A, Class A1R, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%)
6.715%(c)   04/21/31     8,911   8,840,574
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Mountain View CLO Ltd. (Cayman Islands),
Series 2015-09A, Class A1R, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 0.000%)
6.690%(c)   07/15/31     5,974   $5,942,960
OCP CLO Ltd. (Cayman Islands),
Series 2020-18A, Class AR, 144A, 3 Month SOFR + 1.352% (Cap N/A, Floor 1.352%)
6.678%(c)   07/20/32     5,000   4,979,279
OZLM Ltd. (Cayman Islands),
Series 2015-11A, Class A1R, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 0.000%)
6.881%(c)   10/30/30     823   821,528
Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands),
Series 2019-02A, Class A1R, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%)
6.750%(c)   10/15/34     7,000   6,933,924
Rad CLO Ltd. (Cayman Islands),
Series 2019-05A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%)
6.727%(c)   07/24/32     9,650   9,579,532
Series 2023-19A, Class A1, 144A, 3 Month SOFR + 2.000% (Cap N/A, Floor 2.000%)
7.095%(c)   04/20/35     10,800   10,855,099
Romark WM-R Ltd. (Cayman Islands),
Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%)
6.618%(c)   04/20/31     3,918   3,891,864
Shackleton CLO Ltd. (Cayman Islands),
Series 2014-05RA, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 0.262%)
6.731%(c)   05/07/31     4,923   4,884,398
Signal Peak CLO Ltd.,
Series 2018-05A, Class A, 144A, 3 Month SOFR + 1.372% (Cap N/A, Floor 1.110%)
6.723%(c)   04/25/31     1,659   1,654,887
Sixth Street CLO Ltd. (Cayman Islands),
Series 2020-16A, Class A1A, 144A, 3 Month SOFR + 1.582% (Cap N/A, Floor 1.320%)
6.908%(c)   10/20/32     12,500   12,487,583
Sound Point CLO Ltd. (Cayman Islands),
Series 2013-01A, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.332%)
6.682%(c)   01/26/31     3,428   3,404,454
TCW CLO Ltd. (Cayman Islands),
Series 2017-01A, Class A1RR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%)
6.811%(c)   10/29/34     3,000   2,972,872
Series 2017-01A, Class BRR, 144A, 3 Month SOFR + 1.962% (Cap N/A, Floor 1.700%)
7.331%(c)   10/29/34     4,000   3,910,400
Telos CLO Ltd. (Cayman Islands),
Series 2013-04A, Class AR, 144A, 3 Month SOFR + 1.502% (Cap N/A, Floor 0.000%)
6.810%(c)   01/17/30     2,305   2,293,033
 
A2

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
TICP CLO Ltd. (Cayman Islands),
Series 2017-09A, Class A, 144A, 3 Month SOFR + 1.402% (Cap N/A, Floor 1.140%)
6.728%(c)   01/20/31     2,713   $2,710,172
Tikehau US CLO Ltd. (Bermuda),
Series 2023-01A, Class A1, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%)
7.466%(c)   07/15/34     8,750   8,794,979
Toro European CLO DAC (Ireland),
Series 03A, Class ARR, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%)
4.653%(c)   07/15/34   EUR 8,000   8,274,836
Trinitas Euro CLO DAC (Ireland),
Series 02A, Class CR, 144A, 3 Month EURIBOR + 3.750% (Cap N/A, Floor 3.750%)
7.413%(c)   04/15/35   EUR 4,500   4,747,164
Venture CLO Ltd. (Cayman Islands),
Series 2018-32A, Class A1, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%)
6.672%(c)   07/18/31     300   297,450
Voya CLO Ltd. (Cayman Islands),
Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%)
6.583%(c)   04/25/31     2,862   2,855,089
Wellfleet CLO Ltd. (Cayman Islands),
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%)
6.788%(c)   10/20/31     2,750   2,743,125
Wellfleet CLO Ltd.,
Series 2017-03A, Class A1, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%)
6.720%(c)   01/17/31     6,321   6,287,323
Wind River CLO Ltd. (Cayman Islands),
Series 2016-01KRA, Class A1R2, 144A, 3 Month SOFR + 1.472% (Cap N/A, Floor 1.210%)
6.780%(c)   10/15/34     1,750   1,734,000
              258,272,370
Consumer Loans — 0.8%
Fairstone Financial Issuance Trust (Canada),
Series 2020-01A, Class A, 144A
2.509%   10/20/39   CAD 400   283,683
Lending Funding Trust,
Series 2020-02A, Class A, 144A
2.320%   04/21/31     300   267,626
Lendmark Funding Trust,
Series 2021-01A, Class B, 144A
2.470%   11/20/31     100   83,501
Mariner Finance Issuance Trust,
Series 2019-AA, Class A, 144A
2.960%   07/20/32     24   23,524
Series 2020-AA, Class A, 144A
2.190%   08/21/34     443   430,485
OneMain Financial Issuance Trust,
Series 2020-01A, Class A, 144A
3.840%   05/14/32     59   59,084
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Asset-Backed Securities (continued)
Consumer Loans (cont’d.)
Series 2020-02A, Class A, 144A
1.750%   09/14/35     1,500   $1,345,829
Series 2023-01A, Class A, 144A
5.500%   06/14/38     5,500   5,370,743
Series 2023-02A, Class C, 144A
6.740%   09/15/36     700   696,938
Series 2023-02A, Class D, 144A
7.520%   09/15/36     800   796,459
Oportun Funding XIII LLC,
Series 2019-A, Class A, 144A
3.080%   08/08/25     411   407,910
Regional Management Issuance Trust,
Series 2022-01, Class A, 144A
3.070%   03/15/32     1,200   1,118,701
              10,884,483
Credit Cards — 0.1%
Newday Funding Master Issuer PLC (United Kingdom),
Series 2021-01A, Class A1, 144A, SONIA + 0.970% (Cap N/A, Floor 0.000%)
6.166%(c)   03/15/29   GBP 300   365,803
Series 2021-02A, Class A1, 144A, SONIA + 0.800% (Cap N/A, Floor 0.000%)
5.996%(c)   07/15/29   GBP 300   365,188
Newday Partnership Funding PLC (United Kingdom),
Series 2020-01A, Class A3, 144A, SONIA + 1.400% (Cap N/A, Floor 0.000%)
6.596%(c)   11/15/28   GBP 925   1,129,009
              1,860,000
Home Equity Loans — 0.1%
Floating Rate Mortgage Pass-Through Certificates,
Series 2001-02, Class M3, 1 Month SOFR + 3.039% (Cap N/A, Floor 2.925%)
8.359%(c)   10/25/31     144   138,260
Merrill Lynch Mortgage Investors Trust,
Series 2004-HE02, Class M1, 1 Month SOFR + 1.314% (Cap N/A, Floor 1.200%)
6.634%(c)   08/25/35     47   44,678
Morgan Stanley ABS Capital I, Inc. Trust,
Series 2003-HE03, Class M1, 1 Month SOFR + 1.134% (Cap N/A, Floor 1.020%)
6.454%(c)   10/25/33     54   53,259
Towd Point HE Trust,
Series 2023-01, Class A1A, 144A
6.875%   02/25/63     411   409,720
              645,917
Other — 0.1%
Goodleap Sustainable Home Solutions Trust,
Series 2023-03C, Class A, 144A
6.500%   07/20/55     490   482,291
 
A3

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Asset-Backed Securities (continued)
Other (cont’d.)
TH MSR Issuer Trust,
Series 2019-FT01, Class A, 144A, 1 Month SOFR + 2.914% (Cap N/A, Floor 2.800%)
8.234%(c)   06/25/24     1,150   $1,118,232
              1,600,523
Residential Mortgage-Backed Securities — 0.3%
Argent Securities, Inc., Asset-Backed Pass-Through Certificates,
Series 2004-W10, Class A2, 1 Month SOFR + 0.894% (Cap N/A, Floor 0.780%)
3.666%(c)   10/25/34     398   374,122
LSF11 Boson Investments Sarl Compartment 2 (Spain),
Series 2021-NPLA, Class A1, 144A, 3 Month EURIBOR + 2.000% (Cap 3.000%, Floor 0.000%)
5.826%(c)   11/25/60   EUR 722   726,708
Rathlin Residential DAC (Ireland),
Series 2021-01A, Class A, 144A, 1 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%)
5.865%(c)   09/27/75   EUR 1,022   1,061,542
TFS (Spain),
Series 2018-03
0.000%(s)   04/16/40^   EUR —(r)   1
Series 2018-03, Class A1, 1 Month EURIBOR + 3.000%
6.925%(c)   03/15/26^   EUR 1,597   1,435,278
              3,597,651
Student Loans — 0.2%
Laurel Road Prime Student Loan Trust,
Series 2018-A, Class A, 144A
0.000%   02/25/43     2,980   611,489
Series 2018-C, Class A, 144A
0.000%(cc)   08/25/43     670   617,639
Series 2018-D, Class A, 144A
0.000%(cc)   11/25/43     683   633,054
Series 2019-A, Class R, 144A
0.000%   10/25/48     1,188   225,665
Navient Private Education Refi Loan Trust,
Series 2020-DA, Class A, 144A
1.690%   05/15/69     27   24,502
SoFi RR Funding III Trust,
Series 2020-01, Class A, 144A, 1 Month SOFR + 2.364% (Cap N/A, Floor 1.250%)
7.684%(c)   11/29/24     1,066   1,065,758
              3,178,107
 
Total Asset-Backed Securities

(cost $305,146,749)

  294,180,864
Commercial Mortgage-Backed Securities —
12.9%
BANK,
Series 2017-BNK04, Class A3
3.362%   05/15/50     9,151   8,448,421
Series 2017-BNK05, Class A4
3.131%   06/15/60     4,400   4,004,396
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2017-BNK06, Class A4
3.254%   07/15/60     920   $843,096
Series 2017-BNK08, Class A3
3.229%   11/15/50     1,333   1,205,854
Series 2019-BN18, Class A3
3.325%   05/15/62     1,500   1,310,373
Series 2020-BN29, Class A3
1.742%   11/15/53     1,000   738,638
Bank of America Merrill Lynch Commercial Mortgage Trust,
Series 2016-UB10, Class A3
2.903%   07/15/49     927   857,515
Barclays Commercial Mortgage Securities Trust,
Series 2016-ETC, Class A, 144A
2.937%   08/14/36     1,170   1,010,721
Series 2016-ETC, Class B, 144A
3.189%   08/14/36     510   427,269
Series 2016-ETC, Class C, 144A
3.391%   08/14/36     430   349,030
Series 2016-ETC, Class D, 144A
3.729%(cc)   08/14/36     1,560   1,211,332
Benchmark Mortgage Trust,
Series 2019-B09, Class A4
3.751%   03/15/52     3,400   3,054,253
Series 2020-B18, Class A4
1.672%   07/15/53     2,900   2,210,151
Series 2020-B21, Class A4
1.704%   12/17/53     1,000   769,776
Series 2020-IG01, Class A3
2.687%   09/15/43     5,000   3,840,257
Series 2023-V02, Class A3
5.812%(cc)   05/15/55     7,000   6,902,967
Series 2023-V03, Class A3
6.363%(cc)   07/15/56     6,000   6,064,280
BPR Trust,
Series 2023-BRK2, Class A, 144A
7.146%(cc)   11/05/28     2,300   2,299,884
BX Commercial Mortgage Trust,
Series 2019-XL, Class F, 144A, 1 Month SOFR + 2.114% (Cap N/A, Floor 2.000%)
7.447%(c)   10/15/36     2,125   2,102,134
Series 2019-XL, Class G, 144A, 1 Month SOFR + 2.414% (Cap N/A, Floor 2.300%)
7.747%(c)   10/15/36     1,360   1,337,620
Series 2019-XL, Class J, 144A, 1 Month SOFR + 2.764% (Cap N/A, Floor 2.650%)
8.097%(c)   10/15/36     2,975   2,914,192
Series 2021-ACNT, Class E, 144A, 1 Month SOFR + 2.311% (Cap N/A, Floor 2.197%)
7.643%(c)   11/15/38     3,350   3,240,712
BX Trust,
Series 2022-LBA06, Class E, 144A, 1 Month SOFR + 2.700% (Cap N/A, Floor 2.700%)
8.032%(c)   01/15/39     5,000   4,767,937
Cantor Commercial Real Estate Lending,
Series 2019-CF02, Class A3
2.647%   11/15/52     7,700   7,168,116
 
A4

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Commercial Mortgage-Backed Securities
(continued)
CD Mortgage Trust,
Series 2017-CD05, Class A3
3.171%   08/15/50     3,500   $3,176,295
CENT Trust,
Series 2023-CITY, Class A, 144A, 1 Month SOFR + 2.620% (Cap N/A, Floor 2.620%)
7.952%(c)   09/15/28     2,750   2,748,811
CFK Trust,
Series 2020-MF02, Class A, 144A
2.387%   03/15/39     6,550   5,652,345
CityLine Commercial Mortgage Trust,
Series 2016-CLNE, Class B, 144A
2.871%(cc)   11/10/31     2,400   2,160,000
Series 2016-CLNE, Class C, 144A
2.871%(cc)   11/10/31     900   792,000
Cold Storage Trust,
Series 2020-ICE05, Class E, 144A, 1 Month SOFR + 2.880% (Cap N/A, Floor 2.766%)
8.212%(c)   11/15/37     1,327   1,315,357
Commercial Mortgage Trust,
Series 2014-UBS04, Class A4
3.420%   08/10/47     3,200   3,123,818
Series 2016-COR01, Class A3
2.826%   10/10/49     2,474   2,264,400
Series 2017-COR02, Class A2
3.239%   09/10/50     3,829   3,516,001
Credit Suisse Mortgage Capital Certificates,
Series 2019-ICE04, Class E, 144A, 1 Month SOFR + 2.197% (Cap N/A, Floor 2.150%)
7.530%(c)   05/15/36     2,594   2,575,400
CSAIL Commercial Mortgage Trust,
Series 2019-C16, Class A2
3.067%   06/15/52     1,200   1,042,821
DBGS Mortgage Trust,
Series 2018-BIOD, Class G, 144A, 1 Month SOFR + 2.796% (Cap N/A, Floor 2.500%)
8.128%(c)   05/15/35     2,990   2,878,268
DBWF Mortgage Trust,
Series 2016-85T, Class D, 144A
3.935%(cc)   12/10/36     1,400   980,283
Deutsche Bank Commercial Mortgage Trust,
Series 2017-C06, Class A4
3.071%   06/10/50     4,857   4,459,525
Eleven Madison Mortgage Trust,
Series 2015-11MD, Class C, 144A
3.673%(cc)   09/10/35     3,000   2,305,135
FHLMC Multifamily Structured Pass-Through Certificates,
Series K044, Class X1, IO
0.866%(cc)   01/25/25     61,148   482,325
Series K053, Class X1, IO
1.009%(cc)   12/25/25     84,054   1,333,970
Series K055, Class X1, IO
1.473%(cc)   03/25/26     12,666   358,328
Series KG03, Class X1, IO
1.479%(cc)   06/25/30     29,146   1,962,870
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Commercial Mortgage-Backed Securities
(continued)
GS Mortgage Securities Trust,
Series 2015-GC30, Class A3
3.119%   05/10/50     2,849   $2,730,752
Series 2017-GS06, Class A2
3.164%   05/10/50     3,239   2,968,521
Series 2019-GC38, Class A3
3.703%   02/10/52     5,800   5,171,608
IMT Trust,
Series 2017-APTS, Class AFX, 144A
3.478%   06/15/34     310   301,780
JPMDB Commercial Mortgage Securities Trust,
Series 2016-C02, Class A3A
2.881%   06/15/49     1,035   968,323
Series 2017-C05, Class A4
3.414%   03/15/50     1,423   1,321,277
Series 2017-C07, Class A4
3.147%   10/15/50     3,600   3,245,109
JPMorgan Chase Commercial Mortgage Securities Trust,
Series 2016-JP02, Class A3
2.559%   08/15/49     1,267   1,167,093
Series 2018-AON, Class E, 144A
4.767%(cc)   07/05/31     5,875   2,014,088
Series 2018-WPT, Class AFX, 144A
4.248%   07/05/33     5,000   4,475,000
Morgan Stanley Capital I Trust,
Series 2017-H01, Class A4
3.259%   06/15/50     2,750   2,506,925
Series 2017-HR02, Class A3
3.330%   12/15/50     5,451   4,921,922
Series 2019-L03, Class A3
2.874%   11/15/52     1,200   1,001,415
Series 2019-MEAD, Class E, 144A
3.283%(cc)   11/10/36     575   450,188
MSWF Commercial Mortgage Trust,
Series 2023-01, Class A2
6.451%   05/15/56     4,000   3,987,259
Shops at Crystals Trust,
Series 2016-CSTL, Class A, 144A
3.126%   07/05/36     140   126,476
UBS Commercial Mortgage Trust,
Series 2017-C02, Class A3
3.225%   08/15/50     1,887   1,733,712
Series 2017-C07, Class A3
3.418%   12/15/50     5,157   4,759,694
Series 2018-C10, Class A3
4.048%   05/15/51     2,200   2,007,207
Series 2019-C17, Class A3
2.669%   10/15/52     2,000   1,669,664
Wells Fargo Commercial Mortgage Trust,
Series 2014-LC16, Class A4
3.548%   08/15/50     1,775   1,755,969
Series 2016-C32, Class A3
3.294%   01/15/59     1,977   1,871,738
Series 2016-C34, Class A3
2.834%   06/15/49     2,500   2,350,454
 
A5

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2016-C35, Class A3
2.674%   07/15/48     4,067   $3,757,906
Series 2017-C40, Class A3
3.317%   10/15/50     1,370   1,248,997
Series 2019-C54, Class A3
2.892%   12/15/52     1,200   1,006,546
 
Total Commercial Mortgage-Backed Securities

(cost $187,850,764)

  169,726,499
Convertible Bond — 0.0%
Telecommunications
Digicel Group Holdings Ltd. (Jamaica),
Sub. Notes, 144A, Cash coupon 7.000% (original cost $13,725; purchased 03/21/23 - 04/03/23)(f)
7.000%   10/16/23(d)(oo)     93   4,937
(cost $13,725)        
Corporate Bonds — 34.4%
Aerospace & Defense — 0.7%
BAE Systems PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
1.900%   02/15/31     2,770   2,135,212
3.400%   04/15/30     385   335,126
Boeing Co. (The),
Sr. Unsec’d. Notes
1.950%   02/01/24     20   19,720
2.196%   02/04/26     180   165,361
2.750%   02/01/26     90   84,001
2.850%   10/30/24     30   28,980
2.950%   02/01/30     30   25,266
3.900%   05/01/49     50   34,778
3.950%   08/01/59     1,450   951,220
5.930%   05/01/60     2,048   1,842,496
6.875%   03/15/39     20   21,031
7.950%   08/15/24     50   50,690
Bombardier, Inc. (Canada),
Sr. Unsec’d. Notes, 144A
7.500%   03/15/25     571   569,572
7.500%   02/01/29(a)     200   189,500
7.875%   04/15/27(a)     2,575   2,504,548
General Dynamics Corp.,
Gtd. Notes
1.150%   06/01/26     20   17,924
3.250%   04/01/25     10   9,659
3.500%   04/01/27     30   28,257
4.250%   04/01/40     5   4,234
L3Harris Technologies, Inc.,
Sr. Unsec’d. Notes
2.900%   12/15/29     40   34,043
4.400%   06/15/28     37   35,030
4.400%   06/15/28     15   14,191
Lockheed Martin Corp.,
Sr. Unsec’d. Notes
2.800%   06/15/50     10   6,234
4.500%   05/15/36     30   27,322
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Aerospace & Defense (cont’d.)
RTX Corp.,
Sr. Unsec’d. Notes
3.500%   03/15/27     5   $4,651
              9,139,046
Agriculture — 0.7%
Altria Group, Inc.,
Gtd. Notes
2.625%   09/16/26     35   32,265
3.400%   02/04/41     50   32,383
3.700%   02/04/51     100   61,786
3.875%   09/16/46     10   6,495
4.000%   02/04/61     5   3,176
4.400%   02/14/26     43   41,745
5.950%   02/14/49     30   26,820
BAT Capital Corp. (United Kingdom),
Gtd. Notes
2.259%   03/25/28     1,570   1,325,933
2.726%   03/25/31     10   7,697
3.462%   09/06/29     10   8,567
3.557%   08/15/27     422   385,763
4.540%   08/15/47     20   13,759
6.343%   08/02/30     960   944,838
BAT International Finance PLC (United Kingdom),
Gtd. Notes
5.931%   02/02/29     311   305,210
Cargill, Inc.,
Sr. Unsec’d. Notes, 144A
0.750%   02/02/26     40   35,908
Philip Morris International, Inc.,
Sr. Unsec’d. Notes
4.875%   02/13/26     25   24,576
5.000%   11/17/25     10   9,879
5.125%   02/15/30     6,085   5,836,567
Reynolds American, Inc. (United Kingdom),
Gtd. Notes
4.450%   06/12/25(a)     13   12,630
              9,115,997
Airlines — 0.4%
Air Canada (Canada),
Sr. Sec’d. Notes, 144A
3.875%   08/15/26     50   45,250
American Airlines 2016-1 Class AA Pass-Through Trust,
Pass-Through Certificates
3.575%   07/15/29     1,290   1,183,511
American Airlines 2017-2 Class AA Pass-Through Trust,
Pass-Through Certificates
3.350%   04/15/31     36   32,471
Delta Air Lines, Inc.,
Sr. Unsec’d. Notes
3.750%   10/28/29(a)     10   8,589
Delta Air Lines, Inc./SkyMiles IP Ltd.,
Sr. Sec’d. Notes, 144A
4.500%   10/20/25     13   12,626
4.750%   10/20/28     75   71,109
 
A6

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Airlines (cont’d.)
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd.,
Sr. Sec’d. Notes, 144A
6.500%   06/20/27     23   $22,332
Southwest Airlines Co.,
Sr. Unsec’d. Notes
5.125%   06/15/27     3,355   3,269,577
United Airlines 2019-1 Class AA Pass-Through Trust,
Pass-Through Certificates
4.150%   02/25/33     40   36,231
United Airlines 2019-2 Class AA Pass-Through Trust,
Pass-Through Certificates
2.700%   11/01/33     52   42,437
United Airlines 2020-1 Class A Pass-Through Trust,
Pass-Through Certificates
5.875%   04/15/29     89   87,931
United Airlines 2020-1 Class B Pass-Through Trust,
Pass-Through Certificates
4.875%   07/15/27     16   15,647
United Airlines, Inc.,
Sr. Sec’d. Notes, 144A
4.375%   04/15/26     825   763,416
4.625%   04/15/29     195   167,764
              5,758,891
Apparel — 0.1%
Hanesbrands, Inc.,
Gtd. Notes, 144A
4.875%   05/15/26(a)     600   551,149
Wolverine World Wide, Inc.,
Gtd. Notes, 144A
4.000%   08/15/29(a)     675   500,259
              1,051,408
Auto Manufacturers — 0.6%
BMW US Capital LLC (Germany),
Gtd. Notes, 144A
0.800%   04/01/24     40   38,996
Ford Motor Co.,
Sr. Unsec’d. Notes
3.250%   02/12/32     10   7,691
4.750%   01/15/43     1,125   820,794
5.291%   12/08/46     290   220,402
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes
2.900%   02/16/28     275   233,720
3.375%   11/13/25     725   672,488
6.950%   03/06/26     400   399,004
General Motors Co.,
Sr. Unsec’d. Notes
4.000%   04/01/25     17   16,445
5.000%   04/01/35     1,365   1,170,341
5.150%   04/01/38     1,000   832,898
5.200%   04/01/45     1,560   1,214,353
6.125%   10/01/25     40   39,920
6.600%   04/01/36     285   276,681
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Auto Manufacturers (cont’d.)
General Motors Financial Co., Inc.,
Gtd. Notes
4.300%   07/13/25     70   $67,545
Jr. Sub. Notes, Series C
5.700%(ff)   09/30/30(oo)     5   4,302
Sr. Unsec’d. Notes
2.350%   01/08/31     20   15,089
2.400%   04/10/28     1,065   905,872
2.700%   08/20/27     38   33,324
2.700%   06/10/31     25   19,134
3.100%   01/12/32     20   15,476
5.100%   01/17/24     45   44,864
Hyundai Capital America,
Sr. Unsec’d. Notes, 144A
1.000%   09/17/24     30   28,582
1.800%   10/15/25     40   36,776
2.375%   10/15/27     15   12,996
2.650%   02/10/25     15   14,336
3.400%   06/20/24     40   39,227
Sr. Unsec’d. Notes, 144A, MTN
0.800%   01/08/24     60   59,126
1.800%   01/10/28     15   12,560
Mercedes-Benz Finance North America LLC (Germany),
Gtd. Notes, 144A
1.450%   03/02/26     150   136,086
Nissan Motor Acceptance Co. LLC,
Sr. Unsec’d. Notes, 144A
1.050%   03/08/24     90   87,838
Sr. Unsec’d. Notes, 144A, MTN
1.850%   09/16/26     54   46,972
Toyota Motor Credit Corp.,
Sr. Unsec’d. Notes, MTN
1.150%   08/13/27     25   21,400
1.900%   04/06/28     50   43,388
2.150%   02/13/30     10   8,252
Sr. Unsec’d. Notes, MTN, SOFR Index + 0.330%
5.613%(c)   01/11/24     100   99,960
              7,696,838
Auto Parts & Equipment — 0.1%
American Axle & Manufacturing, Inc.,
Gtd. Notes
6.500%   04/01/27(a)     645   612,355
Aptiv PLC/Aptiv Corp.,
Gtd. Notes
4.150%   05/01/52     20   13,895
Dana Financing Luxembourg Sarl,
Gtd. Notes, 144A
5.750%   04/15/25     437   426,609
Dana, Inc.,
Sr. Unsec’d. Notes
5.375%   11/15/27(a)     350   324,946
Tenneco, Inc.,
Sr. Sec’d. Notes, 144A
8.000%   11/17/28     725   589,623
              1,967,428
 
A7

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Banks — 8.9%
Banco Santander SA (Spain),
Sr. Unsec’d. Notes
1.849%   03/25/26     600   $539,116
Sub. Notes
2.749%   12/03/30     1,000   749,270
Bank Gospodarstwa Krajowego (Poland),
Gov’t. Gtd. Notes, 144A, MTN
5.375%   05/22/33     1,360   1,278,400
Bank of America Corp.,
Jr. Sub. Notes, Series JJ
5.125%(ff)   06/20/24(oo)     1,655   1,609,007
Sr. Unsec’d. Notes
1.734%(ff)   07/22/27     45   39,877
2.299%(ff)   07/21/32     20   15,146
2.572%(ff)   10/20/32     10   7,678
2.687%(ff)   04/22/32     2,565   2,011,219
3.419%(ff)   12/20/28     10   8,968
5.288%(ff)   04/25/34     2,295   2,135,217
Sr. Unsec’d. Notes, GMTN
3.593%(ff)   07/21/28     740   675,548
Sr. Unsec’d. Notes, MTN
1.898%(ff)   07/23/31     50   37,970
1.922%(ff)   10/24/31     20   15,086
2.496%(ff)   02/13/31     92   73,757
2.676%(ff)   06/19/41     20   12,805
3.093%(ff)   10/01/25     50   48,355
3.824%(ff)   01/20/28     3,410   3,164,888
3.974%(ff)   02/07/30     685   614,804
4.078%(ff)   04/23/40     2,340   1,847,626
4.271%(ff)   07/23/29     945   870,498
Sr. Unsec’d. Notes, Series N
2.651%(ff)   03/11/32     5,020   3,942,641
Sub. Notes
2.482%(ff)   09/21/36     10   7,309
Sub. Notes, MTN
4.000%   01/22/25     1,122   1,091,649
Sub. Notes, Series L, MTN
3.950%   04/21/25     90   86,887
4.183%   11/25/27     50   46,458
Bank of New York Mellon Corp. (The),
Jr. Sub. Notes, Series H
3.700%(ff)   03/20/26(oo)     15   13,490
Barclays PLC (United Kingdom),
Sr. Unsec’d. Notes
3.650%   03/16/25     700   673,748
3.932%(ff)   05/07/25     480   472,720
5.829%(ff)   05/09/27     3,840   3,773,422
Sr. Unsec’d. Notes, MTN
4.972%(ff)   05/16/29     475   444,261
BNP Paribas SA (France),
Sr. Unsec’d. Notes, 144A
1.323%(ff)   01/13/27     710   635,496
1.904%(ff)   09/30/28     2,200   1,861,166
2.871%(ff)   04/19/32     1,815   1,426,509
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
BPCE SA (France),
Sr. Unsec’d. Notes, 144A, MTN
3.500%   10/23/27     300   $270,339
Sub. Notes, 144A, MTN
4.500%   03/15/25     1,120   1,079,906
4.875%   04/01/26(a)     380   364,126
Cassa Depositi e Prestiti SpA (Italy),
Sr. Unsec’d. Notes, 144A
5.750%   05/05/26     600   588,670
Citigroup, Inc.,
Jr. Sub. Notes
3.875%(ff)   02/18/26(oo)     1,880   1,610,572
Jr. Sub. Notes, Series V
4.700%(ff)   01/30/25(oo)     1,445   1,310,107
Jr. Sub. Notes, Series W
4.000%(ff)   12/10/25(oo)     890   779,374
Jr. Sub. Notes, Series Y
4.150%(ff)   11/15/26(oo)     25   19,966
Sr. Unsec’d. Notes
2.520%(ff)   11/03/32     10   7,595
2.561%(ff)   05/01/32     875   676,210
2.572%(ff)   06/03/31     70   55,799
2.666%(ff)   01/29/31     1,225   993,062
2.976%(ff)   11/05/30     20   16,704
3.200%   10/21/26     3,255   3,005,671
3.668%(ff)   07/24/28     30   27,499
3.785%(ff)   03/17/33     1,160   966,090
3.887%(ff)   01/10/28     1,725   1,607,946
4.075%(ff)   04/23/29     40   36,788
Sub. Notes
4.300%   11/20/26     110   104,187
4.450%   09/29/27     2,735   2,566,037
Deutsche Bank AG (Germany),
Sr. Unsec’d. Notes, EMTN
1.750%(ff)   11/19/30   EUR 100   83,844
Sr. Unsec’d. Notes, MTN
3.700%   05/30/24     159   156,052
Sub. Notes
3.742%(ff)   01/07/33     2,415   1,730,913
Discover Bank,
Sr. Unsec’d. Notes
3.450%   07/27/26     280   254,026
4.250%   03/13/26     1,150   1,087,433
Freedom Mortgage Corp.,
Sr. Unsec’d. Notes, 144A
12.000%   10/01/28     200   203,002
Goldman Sachs Group, Inc. (The),
Jr. Sub. Notes, Series U
3.650%(ff)   08/10/26(oo)     950   764,629
Sr. Unsec’d. Notes
1.948%(ff)   10/21/27     50   44,138
1.992%(ff)   01/27/32     20   14,982
2.383%(ff)   07/21/32     1,480   1,126,646
2.600%   02/07/30     35   28,639
2.615%(ff)   04/22/32     4,715   3,680,263
2.650%(ff)   10/21/32     10   7,729
 
A8

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
2.908%(ff)   07/21/42     25   $16,133
3.272%(ff)   09/29/25     4,063   3,936,094
3.436%(ff)   02/24/43(a)     35   24,140
3.500%   01/23/25     20   19,350
3.691%(ff)   06/05/28     50   46,037
3.750%   02/25/26     125   118,830
3.814%(ff)   04/23/29     1,080   980,751
3.850%   01/26/27     1,765   1,655,199
Sr. Unsec’d. Notes, GMTN, 3 Month SOFR + 2.012%
7.377%(c)   10/28/27     21   21,422
Sr. Unsec’d. Notes, Series VAR
1.093%(ff)   12/09/26     85   76,005
Sub. Notes
5.150%   05/22/45     20   17,149
Huntington Bancshares, Inc.,
Sr. Unsec’d. Notes
6.208%(ff)   08/21/29     545   533,599
JPMorgan Chase & Co.,
Jr. Sub. Notes, Series FF
5.000%(ff)   08/01/24(oo)     1,025   993,561
Jr. Sub. Notes, Series HH
4.600%(ff)   02/01/25(oo)     1,940   1,816,900
Jr. Sub. Notes, Series II
4.000%(ff)   04/01/25(a)(oo)     1,350   1,231,433
Jr. Sub. Notes, Series KK
3.650%(ff)   06/01/26(a)(oo)     1,860   1,625,976
Sr. Unsec’d. Notes
0.563%(ff)   02/16/25     20   19,542
1.045%(ff)   11/19/26     20   17,975
1.578%(ff)   04/22/27     785   700,206
1.953%(ff)   02/04/32     130   98,480
2.069%(ff)   06/01/29     50   42,113
2.301%(ff)   10/15/25     5   4,793
2.525%(ff)   11/19/41     2,330   1,462,257
2.545%(ff)   11/08/32     1,135   878,298
2.580%(ff)   04/22/32     1,775   1,399,867
2.947%(ff)   02/24/28     1,715   1,555,581
2.950%   10/01/26     1,285   1,189,261
3.782%(ff)   02/01/28     1,235   1,149,436
3.897%(ff)   01/23/49     10   7,225
3.960%(ff)   01/29/27     930   888,449
3.964%(ff)   11/15/48     985   717,728
4.005%(ff)   04/23/29     1,200   1,105,638
4.452%(ff)   12/05/29     17   15,840
Sub. Notes
2.956%(ff)   05/13/31     155   127,585
4.125%   12/15/26     40   37,999
Mitsubishi UFJ Financial Group, Inc. (Japan),
Sr. Unsec’d. Notes
3.407%   03/07/24     45   44,506
Mizuho Financial Group, Inc. (Japan),
Sr. Unsec’d. Notes
5.748%(ff)   07/06/34     2,890   2,757,763
Morgan Stanley,
Sr. Unsec’d. Notes
5.123%(ff)   02/01/29     1,945   1,873,887
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
5.449%(ff)   07/20/29     860   $838,118
Sr. Unsec’d. Notes, GMTN
1.512%(ff)   07/20/27     15   13,208
2.239%(ff)   07/21/32     4,318   3,255,316
2.699%(ff)   01/22/31     35   28,561
4.431%(ff)   01/23/30     1,340   1,237,505
Sr. Unsec’d. Notes, MTN
1.794%(ff)   02/13/32     1,015   751,301
1.928%(ff)   04/28/32     193   143,177
2.511%(ff)   10/20/32     1,590   1,214,491
2.943%(ff)   01/21/33     1,470   1,155,363
3.125%   07/27/26     2,725   2,530,963
5.250%(ff)   04/21/34     2,230   2,070,952
Sr. Unsec’d. Notes, MTN, SOFR + 0.455%
5.790%(c)   01/25/24     20   19,994
Sub. Notes
2.484%(ff)   09/16/36     20   14,615
Sub. Notes, GMTN
4.350%   09/08/26     756   720,847
PNC Financial Services Group, Inc. (The),
Sr. Unsec’d. Notes
2.200%   11/01/24     21   20,148
5.582%(ff)   06/12/29     2,390   2,319,468
Societe Generale SA (France),
Sr. Unsec’d. Notes, 144A
2.797%(ff)   01/19/28     2,210   1,961,566
2.889%(ff)   06/09/32     250   188,818
3.337%(ff)   01/21/33     1,330   1,026,329
Standard Chartered PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
2.819%(ff)   01/30/26     25   23,729
Sumitomo Mitsui Financial Group, Inc. (Japan),
Sr. Unsec’d. Notes
3.364%   07/12/27     50   45,852
Texas Capital Bank NA,
Sr. Unsec’d. Notes, 144A, 3 Month LIBOR + 4.500%
10.156%(c)   09/30/24     2,429   2,407,361
Truist Financial Corp.,
Sr. Unsec’d. Notes, MTN
5.867%(ff)   06/08/34(a)     635   598,389
U.S. Bancorp,
Jr. Sub. Notes
3.700%(ff)   01/15/27(oo)     30   22,033
Jr. Sub. Notes, Series J
5.300%(ff)   04/15/27(oo)     25   20,919
UBS Group AG (Switzerland),
Sr. Unsec’d. Notes, 144A
3.091%(ff)   05/14/32     1,695   1,341,971
6.537%(ff)   08/12/33     870   856,667
UniCredit SpA (Italy),
Sr. Unsec’d. Notes, 144A
2.569%(ff)   09/22/26     685   626,879
3.127%(ff)   06/03/32     1,225   938,543
Wells Fargo & Co.,
Sr. Unsec’d. Notes
3.068%(ff)   04/30/41     2,690   1,794,980
 
A9

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
5.389%(ff)   04/24/34     1,270   $1,189,391
Sr. Unsec’d. Notes, MTN
2.393%(ff)   06/02/28     60   52,633
2.572%(ff)   02/11/31     3,525   2,849,545
5.013%(ff)   04/04/51     20   16,781
Sub. Notes, MTN
4.100%   06/03/26     20   19,001
              117,022,357
Beverages — 0.3%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium),
Gtd. Notes
4.700%   02/01/36     31   28,406
4.900%   02/01/46     4,638   4,023,255
Anheuser-Busch InBev Worldwide, Inc. (Belgium),
Gtd. Notes
3.500%   06/01/30     30   26,709
4.600%   04/15/48     8   6,768
4.750%   01/23/29     118   114,184
Coca-Cola Co. (The),
Sr. Unsec’d. Notes
1.375%   03/15/31     10   7,631
1.650%   06/01/30     10   8,003
Constellation Brands, Inc.,
Sr. Unsec’d. Notes
2.875%   05/01/30     70   58,679
              4,273,635
Biotechnology — 0.3%
Amgen, Inc.,
Sr. Unsec’d. Notes
2.000%   01/15/32     10   7,570
2.770%   09/01/53     19   10,554
3.150%   02/21/40     20   14,096
5.150%   11/15/41     16   14,134
5.600%   03/02/43     4,450   4,139,371
Baxalta, Inc.,
Gtd. Notes
4.000%   06/23/25     75   72,747
Gilead Sciences, Inc.,
Sr. Unsec’d. Notes
2.800%   10/01/50     10   5,993
2.950%   03/01/27     7   6,459
4.750%   03/01/46     10   8,564
              4,279,488
Building Materials — 0.1%
JELD-WEN, Inc.,
Gtd. Notes, 144A
4.625%   12/15/25     118   113,581
Johnson Controls International PLC/Tyco Fire & Security Finance SCA,
Sr. Unsec’d. Notes
1.750%   09/15/30     20   15,537
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Building Materials (cont’d.)
Martin Marietta Materials, Inc.,
Sr. Unsec’d. Notes
2.400%   07/15/31     15   $11,746
Masonite International Corp.,
Gtd. Notes, 144A
5.375%   02/01/28     475   440,563
Smyrna Ready Mix Concrete LLC,
Sr. Sec’d. Notes, 144A
6.000%   11/01/28     1,275   1,176,815
Vulcan Materials Co.,
Sr. Unsec’d. Notes
3.500%   06/01/30     15   13,067
              1,771,309
Chemicals — 0.9%
Ashland Services BV,
Gtd. Notes
2.000%   01/30/28   EUR 1,600   1,428,484
Ashland, Inc.,
Sr. Unsec’d. Notes
6.875%   05/15/43     1,400   1,329,593
CF Industries, Inc.,
Gtd. Notes
4.950%   06/01/43     675   544,409
Dow Chemical Co. (The),
Sr. Unsec’d. Notes
3.600%   11/15/50     5   3,353
6.900%   05/15/53     25   26,215
FMC Corp.,
Sr. Unsec’d. Notes
3.450%   10/01/29     2,810   2,365,125
LYB International Finance III LLC,
Gtd. Notes
1.250%   10/01/25     35   31,888
3.375%   10/01/40     60   40,816
4.200%   10/15/49     5   3,533
Mosaic Co. (The),
Sr. Unsec’d. Notes
5.625%   11/15/43     155   135,099
NOVA Chemicals Corp. (Canada),
Sr. Unsec’d. Notes, 144A
4.875%   06/01/24     1,150   1,129,875
Nutrien Ltd. (Canada),
Sr. Unsec’d. Notes
4.900%   06/01/43     870   715,739
5.250%   01/15/45     305   258,215
Rain Carbon, Inc.,
Sr. Sec’d. Notes, 144A
12.250%   09/01/29     325   340,922
Sasol Financing USA LLC (South Africa),
Gtd. Notes
4.375%   09/18/26     460   406,332
5.875%   03/27/24     375   369,660
Sherwin-Williams Co. (The),
Sr. Unsec’d. Notes
2.300%   05/15/30     20   16,201
 
A10

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Chemicals (cont’d.)
3.125%   06/01/24     14   $13,729
3.450%   08/01/25     449   430,924
TPC Group, Inc.,
Sr. Sec’d. Notes, 144A
13.000%   12/16/27     194   194,813
Yara International ASA (Brazil),
Sr. Unsec’d. Notes, 144A
4.750%   06/01/28     2,410   2,252,338
              12,037,263
Commercial Services — 0.8%
Allied Universal Holdco LLC/Allied Universal Finance Corp.,
Sr. Sec’d. Notes, 144A
6.625%   07/15/26     600   569,051
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl,
Sr. Sec’d. Notes, 144A
4.625%   06/01/28     1,300   1,072,500
DP World Ltd. (United Arab Emirates),
Sr. Unsec’d. Notes, 144A
2.375%   09/25/26   EUR 785   776,485
ERAC USA Finance LLC,
Gtd. Notes, 144A
4.200%   11/01/46     50   38,309
6.700%   06/01/34     920   970,056
7.000%   10/15/37     770   832,400
Gartner, Inc.,
Gtd. Notes, 144A
4.500%   07/01/28     230   209,849
Global Payments, Inc.,
Sr. Unsec’d. Notes
1.200%   03/01/26     145   129,346
2.650%   02/15/25     40   38,116
3.200%   08/15/29     30   25,505
GTCR W-2 Merger Sub LLC,
Sr. Sec’d. Notes, 144A
7.500%   01/15/31     200   200,253
Nexi SpA (Italy),
Sr. Unsec’d. Notes
2.125%   04/30/29(a)   EUR 2,640   2,313,966
S&P Global, Inc.,
Gtd. Notes
4.250%   05/01/29     60   56,570
United Rentals North America, Inc.,
Gtd. Notes
3.750%   01/15/32     50   40,346
3.875%   02/15/31(a)     392   326,112
4.875%   01/15/28(a)     1,325   1,240,221
5.250%   01/15/30     525   484,355
University of Southern California,
Sr. Unsec’d. Notes
4.976%   10/01/53     1,690   1,549,937
              10,873,377
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Computers — 0.2%
Apple, Inc.,
Sr. Unsec’d. Notes
0.700%   02/08/26     40   $36,024
1.200%   02/08/28     100   85,275
1.400%   08/05/28     29   24,557
1.650%   02/08/31     55   43,561
2.375%   02/08/41     40   26,693
2.650%   05/11/50     15   9,143
2.650%   02/08/51     15   9,100
2.700%   08/05/51     5   3,041
2.800%   02/08/61     100   58,464
2.950%   09/11/49     25   16,495
3.350%   02/09/27     70   66,149
3.850%   08/04/46     15   11,802
Genpact Luxembourg Sarl,
Gtd. Notes
3.375%   12/01/24     90   86,762
NCR Atleos Escrow Corp.,
Sr. Sec’d. Notes, 144A
9.500%   04/01/29     866   837,637
NCR Corp.,
Gtd. Notes, 144A
6.125%   09/01/29     675   691,197
NetApp, Inc.,
Sr. Unsec’d. Notes
3.300%   09/29/24     40   38,946
Seagate HDD Cayman,
Gtd. Notes
4.875%   06/01/27     40   37,688
              2,082,534
Distribution/Wholesale — 0.1%
H&E Equipment Services, Inc.,
Gtd. Notes, 144A
3.875%   12/15/28     1,550   1,324,807
Ritchie Bros Holdings, Inc. (Canada),
Sr. Sec’d. Notes, 144A
6.750%   03/15/28     75   74,827
              1,399,634
Diversified Financial Services — 0.3%
American Express Co.,
Jr. Sub. Notes
3.550%(ff)   09/15/26(oo)     10   7,941
Blackstone Private Credit Fund,
Sr. Sec’d. Notes
5.610%   05/03/27^     1,100   1,012,178
Cantor Fitzgerald LP,
Sr. Unsec’d. Notes, 144A
4.875%   05/01/24     50   49,119
Capital One Financial Corp.,
Sr. Unsec’d. Notes
3.800%   01/31/28     5   4,500
Sub. Notes
2.359%(ff)   07/29/32     45   30,663
 
A11

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Diversified Financial Services (cont’d.)
Charles Schwab Corp. (The),
Jr. Sub. Notes, Series H
4.000%(ff)   12/01/30(oo)     20   $14,105
Jr. Sub. Notes, Series I
4.000%(ff)   06/01/26(oo)     35   29,244
Credit Acceptance Corp.,
Gtd. Notes, 144A
5.125%   12/31/24     15   14,581
GTP Acquisition Partners I LLC,
Sr. Sec’d. Notes, 144A
3.482%   06/15/50     100   95,683
Jefferies Financial Group, Inc.,
Sr. Unsec’d. Notes
6.500%   01/20/43     555   538,773
Mastercard, Inc.,
Sr. Unsec’d. Notes
1.900%   03/15/31     15   11,923
3.850%   03/26/50     20   15,428
Nationstar Mortgage Holdings, Inc.,
Gtd. Notes, 144A
5.125%   12/15/30     75   61,126
5.500%   08/15/28     805   710,163
6.000%   01/15/27     275   260,008
Nomura Holdings, Inc. (Japan),
Sr. Unsec’d. Notes
2.608%   07/14/31     515   392,675
OneMain Finance Corp.,
Gtd. Notes
3.875%   09/15/28     575   461,873
Power Finance Corp. Ltd. (India),
Sr. Unsec’d. Notes, 144A, MTN
6.150%   12/06/28     400   399,128
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.,
Gtd. Notes, 144A
2.875%   10/15/26     10   8,802
Visa, Inc.,
Sr. Unsec’d. Notes
1.100%   02/15/31     10   7,550
4.300%   12/14/45     20   16,823
              4,142,286
Electric — 3.2%
AEP Transmission Co. LLC,
Sr. Unsec’d. Notes
3.750%   12/01/47     100   72,418
AES Corp. (The),
Sr. Unsec’d. Notes
1.375%   01/15/26     35   31,162
2.450%   01/15/31     15   11,521
Sr. Unsec’d. Notes, 144A
3.300%   07/15/25     45   42,609
3.950%   07/15/30     5   4,312
Ameren Illinois Co.,
First Mortgage
4.500%   03/15/49     40   32,986
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
American Electric Power Co., Inc.,
Sr. Unsec’d. Notes, Series J
4.300%   12/01/28     45   $42,210
American Transmission Systems, Inc.,
Sr. Unsec’d. Notes, 144A
2.650%   01/15/32     10   7,903
Arizona Public Service Co.,
Sr. Unsec’d. Notes
2.200%   12/15/31     25   18,918
Atlantic City Electric Co.,
First Mortgage
2.300%   03/15/31     25   19,833
Avangrid, Inc.,
Sr. Unsec’d. Notes
3.800%   06/01/29     10   8,882
Baltimore Gas & Electric Co.,
Sr. Unsec’d. Notes
2.250%   06/15/31     5   3,970
Berkshire Hathaway Energy Co.,
Sr. Unsec’d. Notes
4.050%   04/15/25     35   34,096
4.250%   10/15/50     20   14,747
Calpine Corp.,
Sr. Unsec’d. Notes, 144A
4.625%   02/01/29     600   502,393
5.000%   02/01/31     750   607,330
5.125%   03/15/28     1,700   1,513,897
CenterPoint Energy, Inc.,
Sr. Unsec’d. Notes
2.950%   03/01/30     36   30,135
CMS Energy Corp.,
Sr. Unsec’d. Notes
3.000%   05/15/26     20   18,688
Comision Federal de Electricidad (Mexico),
Gtd. Notes, 144A
4.688%   05/15/29     1,325   1,185,875
Consolidated Edison Co. of New York, Inc.,
Sr. Unsec’d. Notes
4.500%   12/01/45     10   7,944
Sr. Unsec’d. Notes, Series C
3.000%   12/01/60     20   11,170
4.300%   12/01/56     235   172,916
Constellation Energy Generation LLC,
Sr. Unsec’d. Notes
3.250%   06/01/25     20   19,075
Consumers Energy Co.,
First Mortgage
2.500%   05/01/60     3   1,566
Dominion Energy South Carolina, Inc.,
First Mortgage
4.600%   06/15/43     2,025   1,684,473
Dominion Energy, Inc.,
Jr. Sub. Notes
3.071%   08/15/24     5   4,869
Sr. Unsec’d. Notes
3.900%   10/01/25     15   14,441
 
A12

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Sr. Unsec’d. Notes, Series C
3.375%   04/01/30     10   $8,601
DPL, Inc.,
Sr. Unsec’d. Notes
4.125%   07/01/25     10   9,510
DTE Electric Co.,
First Mortgage, Series C
2.625%   03/01/31     10   8,249
Duke Energy Carolinas LLC,
First Mortgage
3.950%   11/15/28     40   37,513
Duke Energy Corp.,
Sr. Unsec’d. Notes
2.450%   06/01/30     5   4,055
Duke Energy Florida LLC,
First Mortgage
1.750%   06/15/30     50   39,240
2.500%   12/01/29(a)     75   63,509
3.850%   11/15/42     25   18,566
Duke Energy Indiana LLC,
First Mortgage
2.750%   04/01/50     10   5,719
5.400%   04/01/53     3,500   3,199,735
Duke Energy Ohio, Inc.,
First Mortgage
2.125%   06/01/30     30   24,127
Duke Energy Progress LLC,
First Mortgage
3.450%   03/15/29     45   40,787
Edison International,
Jr. Sub. Notes, Series A
5.375%(ff)   03/15/26(oo)     10   8,852
Jr. Sub. Notes, Series B
5.000%(ff)   12/15/26(oo)     20   17,117
Sr. Unsec’d. Notes
3.550%   11/15/24     85   82,474
4.950%   04/15/25     5   4,897
El Paso Electric Co.,
Sr. Unsec’d. Notes
6.000%   05/15/35     2,325   2,224,620
Emera US Finance LP (Canada),
Gtd. Notes
0.833%   06/15/24     20   19,207
Entergy Corp.,
Sr. Unsec’d. Notes
0.900%   09/15/25     10   9,079
2.400%   06/15/31     48   37,468
2.800%   06/15/30     10   8,318
Entergy Louisiana LLC,
First Mortgage
2.350%   06/15/32     120   92,280
Entergy Texas, Inc.,
First Mortgage
3.550%   09/30/49     25   16,913
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Eskom Holdings SOC Ltd. (South Africa),
Sr. Unsec’d. Notes, 144A
7.125%   02/11/25     390   $379,486
Eversource Energy,
Sr. Unsec’d. Notes, Series M
3.300%   01/15/28     40   36,405
Sr. Unsec’d. Notes, Series U
1.400%   08/15/26     20   17,728
Exelon Corp.,
Sr. Unsec’d. Notes
3.400%   04/15/26     5   4,735
3.950%   06/15/25     35   33,832
4.050%   04/15/30     25   22,509
FirstEnergy Corp.,
Sr. Unsec’d. Notes, Series C
5.100%   07/15/47     4   3,395
FirstEnergy Transmission LLC,
Sr. Unsec’d. Notes, 144A
4.350%   01/15/25     3,771   3,674,958
5.450%   07/15/44     280   244,772
Florida Power & Light Co.,
First Mortgage
2.875%   12/04/51     5   3,037
3.150%   10/01/49     36   23,493
Georgia Power Co.,
Sr. Unsec’d. Notes, Series B
2.650%   09/15/29     95   80,679
Iberdrola International BV (Spain),
Gtd. Notes
6.750%   09/15/33     1,150   1,142,478
Interstate Power & Light Co.,
Sr. Unsec’d. Notes
3.250%   12/01/24     20   19,364
3.600%   04/01/29     50   45,055
Israel Electric Corp. Ltd. (Israel),
Sr. Sec’d. Notes, 144A, GMTN
4.250%   08/14/28     680   621,846
Jersey Central Power & Light Co.,
Sr. Unsec’d. Notes, 144A
4.700%   04/01/24     50   49,598
Kentucky Utilities Co.,
First Mortgage
4.375%   10/01/45     3,050   2,366,373
MidAmerican Energy Co.,
First Mortgage
3.150%   04/15/50     5   3,174
3.650%   04/15/29     20   18,295
3.650%   08/01/48     20   14,243
Narragansett Electric Co. (The),
Sr. Unsec’d. Notes, 144A
3.395%   04/09/30     1,050   912,332
NextEra Energy Capital Holdings, Inc.,
Gtd. Notes
1.900%   06/15/28     15   12,693
2.250%   06/01/30     20   15,998
2.440%   01/15/32     11   8,510
 
A13

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
3.000%   01/15/52     58   $34,125
5.749%   09/01/25     6,060   6,042,074
Northern States Power Co.,
First Mortgage
2.250%   04/01/31     10   7,991
2.600%   06/01/51     5   2,832
3.600%   09/15/47     10   7,046
NRG Energy, Inc.,
Gtd. Notes, 144A
3.625%   02/15/31     100   75,856
3.875%   02/15/32     500   375,012
5.250%   06/15/29     200   176,455
Jr. Sub. Notes, 144A
10.250%(ff)   03/15/28(oo)     225   220,341
Sr. Sec’d. Notes, 144A
2.000%   12/02/25     285   258,223
2.450%   12/02/27     1,245   1,055,853
3.750%   06/15/24     50   48,940
Ohio Power Co.,
Sr. Unsec’d. Notes, Series P
2.600%   04/01/30     25   20,680
Sr. Unsec’d. Notes, Series Q
1.625%   01/15/31     5   3,800
Sr. Unsec’d. Notes, Series R
2.900%   10/01/51     5   2,966
Oncor Electric Delivery Co. LLC,
Sr. Sec’d. Notes
3.800%   06/01/49     6   4,330
Pacific Gas & Electric Co.,
First Mortgage
2.100%   08/01/27     10   8,539
3.450%   07/01/25     13   12,337
3.750%   08/15/42     50   32,086
3.850%   11/15/23     40   39,874
4.000%   12/01/46     15   9,476
4.450%   04/15/42     5   3,543
4.550%   07/01/30     1,748   1,542,964
4.750%   02/15/44     75   55,271
4.950%   07/01/50     2,645   1,974,625
PacifiCorp,
First Mortgage
3.300%   03/15/51     390   233,789
PECO Energy Co.,
First Mortgage
2.800%   06/15/50     25   14,647
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (Indonesia),
Sr. Unsec’d. Notes, 144A
1.875%   11/05/31   EUR 324   260,930
PG&E Energy Recovery Funding LLC,
Sr. Sec’d. Notes, Series A-3
2.822%   07/15/48     20   13,108
Progress Energy, Inc.,
Sr. Unsec’d. Notes
7.000%   10/30/31     90   94,760
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Public Service Co. of Colorado,
First Mortgage, Series 34
3.200%   03/01/50     5   $3,135
Public Service Electric & Gas Co.,
First Mortgage, MTN
2.050%   08/01/50     45   23,092
Public Service Enterprise Group, Inc.,
Sr. Unsec’d. Notes
1.600%   08/15/30     35   26,785
Rochester Gas & Electric Corp.,
First Mortgage, 144A
3.100%   06/01/27     45   41,045
San Diego Gas & Electric Co.,
First Mortgage
4.150%   05/15/48     20   15,194
5.350%   05/15/35     40   37,647
First Mortgage, Series WWW
2.950%   08/15/51     5   3,023
Sr. Sec’d. Notes, Series VVV
1.700%   10/01/30     10   7,719
Sempra,
Sr. Unsec’d. Notes
3.400%   02/01/28     35   31,838
4.000%   02/01/48     5   3,597
Sierra Pacific Power Co.,
General Ref. Mortgage
2.600%   05/01/26     20   18,574
Southern California Edison Co.,
First Mortgage
1.100%   04/01/24     135   131,706
2.250%   06/01/30     35   28,037
2.850%   08/01/29     40   34,381
3.650%   02/01/50     25   16,825
First Mortgage, Series 20A
2.950%   02/01/51     5   2,951
First Mortgage, Series A
4.200%   03/01/29     20   18,595
First Mortgage, Series G
2.500%   06/01/31     10   7,970
First Mortgage, Series H
3.650%   06/01/51     5   3,319
First Ref. Mortgage
5.500%   03/15/40     10   9,118
First Ref. Mortgage, Series C
4.125%   03/01/48     50   36,834
Southwestern Public Service Co.,
First Mortgage
3.750%   06/15/49     30   20,539
Tampa Electric Co.,
Sr. Unsec’d. Notes
3.450%   03/15/51     40   25,693
Toledo Edison Co. (The),
First Mortgage, 144A
2.650%   05/01/28     10   8,524
 
A14

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Trans-Allegheny Interstate Line Co.,
Sr. Unsec’d. Notes, 144A
3.850%   06/01/25     100   $96,461
Tucson Electric Power Co.,
Sr. Unsec’d. Notes
4.000%   06/15/50     1,500   1,061,396
Virginia Electric & Power Co.,
Sr. Unsec’d. Notes
4.450%   02/15/44     15   11,913
Vistra Corp.,
Jr. Sub. Notes, 144A
7.000%(ff)   12/15/26(oo)     625   574,894
8.000%(ff)   10/15/26(oo)     2,075   1,991,356
Vistra Operations Co. LLC,
Gtd. Notes, 144A
5.000%   07/31/27     450   413,787
5.625%   02/15/27     600   568,425
Sr. Sec’d. Notes, 144A
3.550%   07/15/24     130   126,858
3.700%   01/30/27     2,000   1,822,685
              41,712,552
Electrical Components & Equipment — 0.1%
WESCO Distribution, Inc.,
Gtd. Notes, 144A
7.125%   06/15/25     575   576,642
7.250%   06/15/28(a)     550   553,779
              1,130,421
Electronics — 0.1%
Agilent Technologies, Inc.,
Sr. Unsec’d. Notes
2.300%   03/12/31     45   35,574
Sensata Technologies BV,
Gtd. Notes, 144A
5.000%   10/01/25     1,000   960,000
TD SYNNEX Corp.,
Sr. Unsec’d. Notes
1.250%   08/09/24     30   28,600
Sr. Unsec’d. Notes, Sr. Unsec’d. Notes
2.650%   08/09/31     25   18,656
              1,042,830
Engineering & Construction — 0.4%
Cellnex Telecom SA (Spain),
Sr. Unsec’d. Notes, EMTN
1.750%   10/23/30(a)   EUR 2,800   2,397,781
GMR Hyderabad International Airport Ltd. (India),
Sr. Sec’d. Notes, 144A
4.250%   10/27/27     345   306,881
Mexico City Airport Trust (Mexico),
Sr. Sec’d. Notes, 144A
3.875%   04/30/28     201   181,929
4.250%   10/31/26     605   568,107
5.500%   10/31/46     415   315,400
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Engineering & Construction (cont’d.)
5.500%   07/31/47     2,145   $1,631,573
              5,401,671
Entertainment — 0.5%
Caesars Entertainment, Inc.,
Sr. Sec’d. Notes, 144A
6.250%   07/01/25     860   848,981
7.000%   02/15/30     400   389,012
Sr. Unsec’d. Notes, 144A
4.625%   10/15/29     600   508,685
CCM Merger, Inc.,
Sr. Unsec’d. Notes, 144A
6.375%   05/01/26     550   528,253
Golden Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
7.625%   04/15/26     875   873,127
Jacobs Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
6.750%   02/15/29     750   664,732
Penn Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
5.625%   01/15/27(a)     800   752,353
Warnermedia Holdings, Inc.,
Gtd. Notes
5.050%   03/15/42(a)     1,065   823,817
5.141%   03/15/52     1,490   1,105,450
              6,494,410
Environmental Control — 0.0%
Republic Services, Inc.,
Sr. Unsec’d. Notes
0.875%   11/15/25     10   9,042
2.500%   08/15/24     30   29,131
3.950%   05/15/28     20   18,756
Waste Connections, Inc.,
Sr. Unsec’d. Notes
3.500%   05/01/29     35   31,721
              88,650
Foods — 0.7%
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC,
Gtd. Notes, 144A
6.500%   02/15/28     375   370,470
B&G Foods, Inc.,
Gtd. Notes
5.250%   09/15/27     1,475   1,234,905
Bellis Acquisition Co. PLC (United Kingdom),
Sr. Sec’d. Notes, 144A
3.250%   02/16/26   GBP 3,100   3,282,156
Bellis Finco PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
4.000%   02/16/27   GBP 1,600   1,484,774
Campbell Soup Co.,
Sr. Unsec’d. Notes
3.950%   03/15/25     45   43,706
4.800%   03/15/48     55   44,509
 
A15

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Foods (cont’d.)
General Mills, Inc.,
Sr. Unsec’d. Notes
2.250%   10/14/31     5   $3,890
Hershey Co. (The),
Sr. Unsec’d. Notes
1.700%   06/01/30     10   7,987
Kraft Heinz Foods Co.,
Gtd. Notes
4.375%   06/01/46     465   360,678
4.625%   10/01/39     645   543,719
5.200%   07/15/45     920   800,447
Mars, Inc.,
Gtd. Notes, 144A
3.875%   04/01/39     440   350,055
4.125%   04/01/54     415   309,174
Mondelez International, Inc.,
Sr. Unsec’d. Notes
1.500%   02/04/31     30   22,559
Smithfield Foods, Inc.,
Sr. Unsec’d. Notes, 144A
3.000%   10/15/30     10   7,666
              8,866,695
Forest Products & Paper — 0.0%
Georgia-Pacific LLC,
Sr. Unsec’d. Notes, 144A
0.950%   05/15/26     40   35,378
Suzano Austria GmbH (Brazil),
Gtd. Notes, Series DM3N
3.125%   01/15/32     10   7,665
              43,043
Gas — 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp.,
Sr. Unsec’d. Notes
5.875%   08/20/26     1,100   1,056,736
Atmos Energy Corp.,
Sr. Unsec’d. Notes
1.500%   01/15/31     55   41,601
2.625%   09/15/29     15   13,008
CenterPoint Energy Resources Corp.,
Sr. Unsec’d. Notes
1.750%   10/01/30     10   7,729
NiSource, Inc.,
Sr. Unsec’d. Notes
0.950%   08/15/25     75   68,338
1.700%   02/15/31     120   89,576
3.600%   05/01/30     36   31,366
4.800%   02/15/44     300   246,577
Piedmont Natural Gas Co., Inc.,
Sr. Unsec’d. Notes
4.100%   09/18/34     20   16,432
Southern California Gas Co.,
First Mortgage, Series WW
3.950%   02/15/50     45   31,923
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Gas (cont’d.)
Southern Co. Gas Capital Corp.,
Gtd. Notes
4.400%   06/01/43     1,050   $796,802
              2,400,088
Healthcare-Products — 0.2%
Medline Borrower LP,
Sr. Sec’d. Notes, 144A
3.875%   04/01/29     325   274,605
Sr. Unsec’d. Notes, 144A
5.250%   10/01/29(a)     225   194,508
Medtronic Global Holdings SCA,
Gtd. Notes
1.375%   10/15/40   EUR 540   361,703
Stryker Corp.,
Sr. Unsec’d. Notes
2.125%   11/30/27   EUR 510   501,658
3.650%   03/07/28     30   27,966
Thermo Fisher Scientific, Inc.,
Sr. Unsec’d. Notes, EMTN
1.500%   10/01/39   EUR 600   419,850
1.875%   10/01/49   EUR 425   263,262
              2,043,552
Healthcare-Services — 1.0%
Advocate Health & Hospitals Corp.,
Sr. Unsec’d. Notes
3.387%   10/15/49     20   13,545
Aetna, Inc.,
Sr. Unsec’d. Notes
3.875%   08/15/47     3   2,096
6.750%   12/15/37     1,900   1,975,340
AHS Hospital Corp.,
Sr. Unsec’d. Notes, Series 2021
2.780%   07/01/51     10   5,863
Ascension Health,
Sr. Unsec’d. Notes, Series B
3.106%   11/15/39     20   14,422
Baylor Scott & White Holdings,
Unsec’d. Notes, Series 2021
2.839%   11/15/50     10   6,034
Bon Secours Mercy Health, Inc.,
Sec’d. Notes, Series 20-2
2.095%   06/01/31     10   7,788
City of Hope,
Sr. Sec’d. Notes, Series 2013
5.623%   11/15/43     20   18,118
CommonSpirit Health,
Sr. Sec’d. Notes
1.547%   10/01/25     35   32,101
2.782%   10/01/30     5   4,123
3.910%   10/01/50     5   3,529
4.187%   10/01/49     30   22,453
Duke University Health System, Inc.,
Sr. Unsec’d. Notes, Series 2017
3.920%   06/01/47     25   19,107
 
A16

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Healthcare-Services (cont’d.)
Elevance Health, Inc.,
Sr. Unsec’d. Notes
2.375%   01/15/25     15   $14,323
4.650%   01/15/43     385   322,927
HCA, Inc.,
Gtd. Notes
5.375%   02/01/25     940   930,309
7.500%   11/06/33     500   521,511
Gtd. Notes, MTN
7.750%   07/15/36     500   532,266
Kaiser Foundation Hospitals,
Unsec’d. Notes, Series 2021
3.002%   06/01/51     10   6,238
Laboratory Corp. of America Holdings,
Sr. Unsec’d. Notes
2.950%   12/01/29     25   21,480
3.600%   02/01/25     675   653,542
Mount Sinai Hospital,
Sec’d. Notes, Series 2017
3.981%   07/01/48     2   1,476
Sec’d. Notes, Series 2019
3.737%   07/01/49     29   20,086
Unsec’d. Notes, Series 2020
3.391%   07/01/50     10   6,254
Northwell Healthcare, Inc.,
Sec’d. Notes
3.809%   11/01/49     10   6,874
Orlando Health Obligated Group,
Unsec’d. Notes
4.089%   10/01/48     25   18,855
PeaceHealth Obligated Group,
Sr. Unsec’d. Notes, Series 2020
1.375%   11/15/25     10   9,074
Piedmont Healthcare, Inc.,
Sec’d. Notes, Series 2032
2.044%   01/01/32     10   7,599
Providence St. Joseph Health Obligated Group,
Unsec’d. Notes, Series 19A
2.532%   10/01/29     50   41,651
Quest Diagnostics, Inc.,
Sr. Unsec’d. Notes
2.950%   06/30/30     50   42,005
Sutter Health,
Unsec’d. Notes, Series 20A
2.294%   08/15/30     6   4,833
3.361%   08/15/50     4   2,614
Tenet Healthcare Corp.,
Gtd. Notes
6.125%   10/01/28(a)     175   164,234
Sr. Sec’d. Notes
4.250%   06/01/29     125   107,657
4.375%   01/15/30     50   43,066
4.625%   06/15/28     435   391,918
4.875%   01/01/26     300   287,639
5.125%   11/01/27(a)     375   348,861
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Healthcare-Services (cont’d.)
Sr. Sec’d. Notes, 144A
6.750%   05/15/31     975   $940,989
Trinity Health Corp.,
Sr. Unsec’d. Notes, Series 2019
3.434%   12/01/48     30   21,408
UnitedHealth Group, Inc.,
Sr. Unsec’d. Notes
2.900%   05/15/50     20   12,298
3.050%   05/15/41     895   631,388
3.250%   05/15/51     5   3,289
3.500%   08/15/39     25   19,197
3.950%   10/15/42     220   172,983
4.450%   12/15/48     10   8,196
5.200%   04/15/63     5,170   4,611,813
Universal Health Services, Inc.,
Sr. Sec’d. Notes
2.650%   10/15/30     25   19,440
              13,072,812
Home Builders — 0.1%
D.R. Horton, Inc.,
Gtd. Notes
2.500%   10/15/24     45   43,396
Taylor Morrison Communities, Inc.,
Gtd. Notes, 144A
5.875%   06/15/27     875   834,336
Sr. Unsec’d. Notes, 144A
5.125%   08/01/30     45   39,320
              917,052
Insurance — 0.4%
American International Group, Inc.,
Sr. Unsec’d. Notes
4.800%   07/10/45     3   2,489
Everest Reinsurance Holdings, Inc.,
Sr. Unsec’d. Notes
3.500%   10/15/50     20   12,816
Great-West Lifeco US Finance 2020 LP (Canada),
Gtd. Notes, 144A
0.904%   08/12/25     25   22,619
Liberty Mutual Finance Europe DAC,
Gtd. Notes, 144A
1.750%   03/27/24   EUR 800   833,172
Liberty Mutual Group, Inc.,
Gtd. Notes, 144A
3.951%   10/15/50     1,030   689,705
Lincoln National Corp.,
Sr. Unsec’d. Notes
7.000%   06/15/40     405   404,161
Markel Group, Inc.,
Sr. Unsec’d. Notes
5.000%   03/30/43     350   277,995
Marsh & McLennan Cos., Inc.,
Sr. Unsec’d. Notes
2.250%   11/15/30     5   4,001
2.375%   12/15/31     15   11,779
 
A17

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Insurance (cont’d.)
New York Life Insurance Co.,
Sub. Notes, 144A
3.750%   05/15/50     25   $17,299
Principal Financial Group, Inc.,
Gtd. Notes
4.625%   09/15/42     150   119,224
Protective Life Corp.,
Sr. Unsec’d. Notes, 144A
3.400%   01/15/30     15   12,570
Sompo International Holdings Ltd. (Bermuda),
Sr. Unsec’d. Notes
7.000%   07/15/34     1,350   1,346,528
Teachers Insurance & Annuity Association of America,
Sub. Notes, 144A
3.300%   05/15/50     10   6,336
4.270%   05/15/47     2,310   1,754,147
6.850%   12/16/39     196   205,707
W.R. Berkley Corp.,
Sr. Unsec’d. Notes
4.000%   05/12/50     15   10,610
              5,731,158
Internet — 0.0%
Alphabet, Inc.,
Sr. Unsec’d. Notes
1.100%   08/15/30     20   15,549
Amazon.com, Inc.,
Sr. Unsec’d. Notes
1.000%   05/12/26     100   89,878
1.200%   06/03/27     20   17,370
2.100%   05/12/31     30   24,062
2.500%   06/03/50     25   14,624
3.100%   05/12/51     25   16,480
3.150%   08/22/27     45   41,830
3.875%   08/22/37     50   42,588
Arches Buyer, Inc.,
Sr. Sec’d. Notes, 144A
4.250%   06/01/28     25   21,339
Expedia Group, Inc.,
Gtd. Notes, 144A
6.250%   05/01/25     3   3,001
Netflix, Inc.,
Sr. Unsec’d. Notes
4.375%   11/15/26     18   17,354
5.750%   03/01/24     5   4,991
              309,066
Iron/Steel — 0.0%
Nucor Corp.,
Sr. Unsec’d. Notes
2.000%   06/01/25     5   4,696
Steel Dynamics, Inc.,
Sr. Unsec’d. Notes
2.400%   06/15/25     5   4,695
3.250%   01/15/31     20   16,908
3.250%   10/15/50     5   3,024
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Iron/Steel (cont’d.)
3.450%   04/15/30     5   $4,335
              33,658
Leisure Time — 0.2%
Carnival Corp.,
Gtd. Notes, 144A
5.750%   03/01/27     675   608,344
NCL Corp. Ltd.,
Gtd. Notes, 144A
5.875%   03/15/26     375   345,000
NCL Finance Ltd.,
Gtd. Notes, 144A
6.125%   03/15/28     425   377,187
Royal Caribbean Cruises Ltd.,
Gtd. Notes, 144A
7.250%   01/15/30     125   123,533
Sr. Unsec’d. Notes, 144A
5.500%   08/31/26     550   519,062
Viking Cruises Ltd.,
Gtd. Notes, 144A
5.875%   09/15/27     800   730,160
              2,703,286
Lodging — 0.3%
Las Vegas Sands Corp.,
Sr. Unsec’d. Notes
2.900%   06/25/25     40   37,260
3.200%   08/08/24     105   101,584
3.500%   08/18/26     30   27,295
Marriott International, Inc.,
Sr. Unsec’d. Notes
3.600%   04/15/24     30   29,599
3.750%   10/01/25     5   4,802
Sr. Unsec’d. Notes, Series GG
3.500%   10/15/32     1,825   1,492,732
MGM Resorts International,
Gtd. Notes
4.750%   10/15/28(a)     1,375   1,210,783
5.500%   04/15/27(a)     700   652,881
Sands China Ltd. (Macau),
Sr. Unsec’d. Notes
5.650%   08/08/28     200   187,625
Wynn Macau Ltd. (Macau),
Sr. Unsec’d. Notes, 144A
5.500%   01/15/26     725   672,394
              4,416,955
Machinery-Construction & Mining — 0.0%
Caterpillar Financial Services Corp.,
Sr. Unsec’d. Notes, MTN
0.800%   11/13/25     10   9,082
1.100%   09/14/27     10   8,559
Caterpillar, Inc.,
Sr. Unsec’d. Notes
2.600%   04/09/30     10   8,567
 
A18

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Machinery-Construction & Mining (cont’d.)
3.250%   04/09/50     10   $7,020
              33,228
Machinery-Diversified — 0.2%
Chart Industries, Inc.,
Sr. Sec’d. Notes, 144A
7.500%   01/01/30     175   175,898
Deere & Co.,
Sr. Unsec’d. Notes
3.100%   04/15/30     10   8,792
3.750%   04/15/50     10   7,878
Ingersoll Rand, Inc.,
Sr. Unsec’d. Notes
5.700%   08/14/33     1,615   1,558,723
Maxim Crane Works Holdings Capital LLC,
Sec’d. Notes, 144A
11.500%   09/01/28     500   487,137
Westinghouse Air Brake Technologies Corp.,
Gtd. Notes
4.150%   03/15/24     35   34,659
4.700%   09/15/28     30   28,195
              2,301,282
Media — 1.5%
AMC Networks, Inc.,
Gtd. Notes
5.000%   04/01/24     675   663,961
CCO Holdings LLC/CCO Holdings Capital Corp.,
Sr. Unsec’d. Notes
4.500%   05/01/32     450   353,164
Sr. Unsec’d. Notes, 144A
4.500%   08/15/30     5   4,101
4.750%   03/01/30     8   6,728
5.125%   05/01/27     275   256,129
5.375%   06/01/29     800   717,841
5.500%   05/01/26     1,375   1,327,673
Charter Communications Operating LLC/Charter Communications Operating Capital,
Sr. Sec’d. Notes
2.250%   01/15/29     10   8,153
2.800%   04/01/31     100   77,946
3.500%   06/01/41(a)     45   28,192
3.500%   03/01/42     50   30,831
3.700%   04/01/51     1,700   987,184
3.950%   06/30/62     10   5,653
4.200%   03/15/28     30   27,531
4.500%   02/01/24     30   29,824
4.908%   07/23/25     65   63,521
5.050%   03/30/29     85   79,421
5.375%   05/01/47     20   15,258
5.750%   04/01/48     20   15,974
6.384%   10/23/35     2,487   2,315,477
6.484%   10/23/45     1,140   994,291
Comcast Corp.,
Gtd. Notes
2.350%   01/15/27     30   27,184
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Media (cont’d.)
2.650%   02/01/30     10   $8,442
2.937%   11/01/56     26   14,774
3.150%   02/15/28     80   73,064
3.250%   11/01/39     35   25,446
3.900%   03/01/38     25   20,297
3.999%   11/01/49     85   62,850
4.000%   03/01/48     40   29,982
4.150%   10/15/28     50   47,358
Cox Communications, Inc.,
Gtd. Notes, 144A
2.950%   10/01/50     60   33,143
Sr. Unsec’d. Notes, 144A
3.150%   08/15/24     965   940,079
3.500%   08/15/27     65   59,390
CSC Holdings LLC,
Gtd. Notes, 144A
3.375%   02/15/31     1,000   683,826
5.500%   04/15/27(a)     650   557,080
Sr. Unsec’d. Notes
5.250%   06/01/24(a)     750   713,272
Sr. Unsec’d. Notes, 144A
4.625%   12/01/30     1,000   532,299
Diamond Sports Group LLC/Diamond Sports Finance Co.,
Gtd. Notes, 144A (original cost $401,250; purchased 07/18/19 - 09/21/20)(f)
6.625%   08/15/27(d)     520   10,719
Sec’d. Notes, 144A (original cost $1,322,435; purchased 07/18/19 - 08/30/22)(f)
5.375%   08/15/26(d)     3,180   75,336
Discovery Communications LLC,
Gtd. Notes
5.300%   05/15/49     275   210,161
DISH DBS Corp.,
Gtd. Notes
7.375%   07/01/28(a)     400   252,734
DISH Network Corp.,
Sr. Sec’d. Notes, 144A
11.750%   11/15/27     1,725   1,730,937
Fox Corp.,
Sr. Unsec’d. Notes
3.050%   04/07/25     5   4,795
4.030%   01/25/24     30   29,781
Gray Television, Inc.,
Gtd. Notes, 144A
5.875%   07/15/26(a)     375   337,066
NBCUniversal Media LLC,
Gtd. Notes
4.450%   01/15/43     10   8,173
Sirius XM Radio, Inc.,
Gtd. Notes, 144A
3.125%   09/01/26     15   13,400
4.000%   07/15/28     15   12,804
TCI Communications, Inc.,
Sr. Unsec’d. Notes
7.875%   02/15/26     750   785,878
 
A19

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Media (cont’d.)
Time Warner Cable LLC,
Sr. Sec’d. Notes
6.550%   05/01/37     40   $36,274
TWDC Enterprises 18 Corp.,
Gtd. Notes, MTN
1.850%   07/30/26     30   27,245
Univision Communications, Inc.,
Sr. Sec’d. Notes, 144A
5.125%   02/15/25     825   804,694
6.625%   06/01/27     975   907,107
Virgin Media Secured Finance PLC (United Kingdom),
Sr. Sec’d. Notes
4.125%   08/15/30   GBP 900   862,752
4.250%   01/15/30   GBP 800   779,752
Walt Disney Co. (The),
Gtd. Notes
3.800%   03/22/30     85   76,957
6.400%   12/15/35     11   11,500
7.625%   11/30/28     500   545,704
Ziggo BV (Netherlands),
Sr. Sec’d. Notes
2.875%   01/15/30   EUR 610   520,775
              19,881,883
Mining — 0.4%
Barrick North America Finance LLC (Canada),
Gtd. Notes
5.700%   05/30/41     10   9,561
5.750%   05/01/43     420   403,263
BHP Billiton Finance USA Ltd. (Australia),
Gtd. Notes
6.420%   03/01/26     120   122,178
First Quantum Minerals Ltd. (Zambia),
Gtd. Notes, 144A
6.875%   10/15/27     700   667,730
FMG Resources August 2006 Pty Ltd. (Australia),
Gtd. Notes, 144A
4.375%   04/01/31     25   20,531
Freeport Indonesia PT (Indonesia),
Sr. Unsec’d. Notes, 144A, MTN
5.315%   04/14/32     450   405,090
Freeport-McMoRan, Inc.,
Gtd. Notes
5.450%   03/15/43     20   17,129
Hecla Mining Co.,
Gtd. Notes
7.250%   02/15/28     325   314,480
Kinross Gold Corp. (Canada),
Gtd. Notes
4.500%   07/15/27     25   23,737
Newmont Corp.,
Gtd. Notes
2.250%   10/01/30     5   3,985
2.800%   10/01/29     3,030   2,566,285
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Mining (cont’d.)
Southern Copper Corp. (Mexico),
Sr. Unsec’d. Notes
3.875%   04/23/25     50   $47,991
Yamana Gold, Inc. (Canada),
Gtd. Notes
4.625%   12/15/27     45   41,983
              4,643,943
Miscellaneous Manufacturing — 0.0%
Carlisle Cos., Inc.,
Sr. Unsec’d. Notes
2.200%   03/01/32     15   11,352
Hillenbrand, Inc.,
Gtd. Notes
5.000%   09/15/26     100   94,620
Pentair Finance Sarl,
Gtd. Notes
4.500%   07/01/29     50   45,915
Teledyne Technologies, Inc.,
Gtd. Notes
2.750%   04/01/31     60   48,482
Textron, Inc.,
Sr. Unsec’d. Notes
2.450%   03/15/31     64   50,883
              251,252
Multi-National — 0.1%
Inter-American Development Bank (Supranational Bank),
Unsec’d. Notes
6.950%   08/01/26     1,500   1,567,177
Office/Business Equipment — 0.0%
CDW LLC/CDW Finance Corp.,
Gtd. Notes
2.670%   12/01/26     20   18,036
3.276%   12/01/28     25   21,569
5.500%   12/01/24     14   13,848
              53,453
Oil & Gas — 2.1%
Aker BP ASA (Norway),
Gtd. Notes, 144A
3.100%   07/15/31     705   564,406
Sr. Unsec’d. Notes, 144A
5.600%   06/13/28     4,000   3,900,169
Ascent Resources Utica Holdings LLC/ARU Finance Corp.,
Gtd. Notes, 144A
7.000%   11/01/26     350   342,206
9.000%   11/01/27     179   226,759
Sr. Unsec’d. Notes, 144A
8.250%   12/31/28     450   444,403
BP Capital Markets America, Inc.,
Gtd. Notes
1.749%   08/10/30     10   7,891
2.772%   11/10/50     145   85,344
2.939%   06/04/51     1,845   1,124,882
3.000%   02/24/50     60   37,400
 
A20

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
3.060%   06/17/41     7   $4,832
3.379%   02/08/61     5   3,113
4.234%   11/06/28     50   47,504
Canadian Natural Resources Ltd. (Canada),
Sr. Unsec’d. Notes
2.950%   07/15/30     10   8,305
Cenovus Energy, Inc. (Canada),
Sr. Unsec’d. Notes
3.750%   02/15/52     340   223,163
5.250%   06/15/37     12   10,606
5.400%   06/15/47     613   525,530
Chevron Corp.,
Sr. Unsec’d. Notes
2.954%   05/16/26     20   18,898
3.078%   05/11/50     10   6,710
Chevron USA, Inc.,
Gtd. Notes
1.018%   08/12/27     10   8,581
2.343%   08/12/50     10   5,655
3.850%   01/15/28     10   9,500
3.900%   11/15/24     50   49,137
Cimarex Energy Co.,
Sr. Unsec’d. Notes
4.375%   03/15/29     10   8,039
CITGO Petroleum Corp.,
Sr. Sec’d. Notes, 144A
7.000%   06/15/25     800   788,187
Civitas Resources, Inc.,
Gtd. Notes, 144A
8.375%   07/01/28     250   254,347
CNX Resources Corp.,
Gtd. Notes, 144A
7.250%   03/14/27     675   665,973
Continental Resources, Inc.,
Gtd. Notes
3.800%   06/01/24     10   9,826
Gtd. Notes, 144A
2.268%   11/15/26     10   8,860
Devon Energy Corp.,
Sr. Unsec’d. Notes
4.500%   01/15/30     6   5,440
4.750%   05/15/42     6   4,765
5.250%   09/15/24     2   1,985
5.250%   10/15/27     15   14,588
5.600%   07/15/41     870   767,521
5.850%   12/15/25     30   29,815
Devon OEI Operating LLC,
Sr. Unsec’d. Notes
7.500%   09/15/27     20   20,734
Diamondback Energy, Inc.,
Gtd. Notes
3.125%   03/24/31     25   20,849
3.250%   12/01/26     20   18,682
Ecopetrol SA (Colombia),
Sr. Unsec’d. Notes
6.875%   04/29/30     497   451,773
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
8.625%   01/19/29     1,840   $1,842,024
8.875%   01/13/33     495   482,241
Endeavor Energy Resources LP/EER Finance, Inc.,
Sr. Unsec’d. Notes, 144A
5.750%   01/30/28     1,300   1,254,060
Energian Israel Finance Ltd. (Israel),
Sr. Sec’d. Notes, 144A
4.875%   03/30/26     547   507,818
5.375%   03/30/28     1,073   962,181
EOG Resources, Inc.,
Sr. Unsec’d. Notes
4.375%   04/15/30     15   14,142
EQT Corp.,
Sr. Unsec’d. Notes, 144A
3.125%   05/15/26     10   9,266
Equinor ASA (Norway),
Gtd. Notes
1.750%   01/22/26     10   9,223
Exxon Mobil Corp.,
Sr. Unsec’d. Notes
2.992%   03/19/25     15   14,486
3.452%   04/15/51     25   17,407
3.482%   03/19/30     10   9,015
Helmerich & Payne, Inc.,
Sr. Unsec’d. Notes
2.900%   09/29/31     25   19,729
Hess Corp.,
Sr. Unsec’d. Notes
4.300%   04/01/27     45   42,743
5.600%   02/15/41     15   13,547
7.300%   08/15/31     5   5,299
KazMunayGas National Co. JSC (Kazakhstan),
Sr. Unsec’d. Notes, 144A
4.750%   04/19/27     200   187,164
Marathon Petroleum Corp.,
Sr. Unsec’d. Notes
5.125%   12/15/26     50   49,190
MEG Energy Corp. (Canada),
Gtd. Notes, 144A
7.125%   02/01/27     300   304,176
Petrobras Global Finance BV (Brazil),
Gtd. Notes
6.625%   01/16/34   GBP 680   728,490
Petroleos Mexicanos (Mexico),
Gtd. Notes
3.625%   11/24/25   EUR 500   472,702
4.750%   02/26/29   EUR 100   79,816
5.950%   01/28/31     20   14,240
6.490%   01/23/27     1,550   1,367,875
6.500%   03/13/27     1,753   1,537,232
6.500%   01/23/29     600   485,454
6.700%   02/16/32     16   11,848
6.840%   01/23/30     800   623,300
Gtd. Notes, EMTN
3.750%   02/21/24   EUR 280   291,403
4.875%   02/21/28   EUR 1,587   1,343,358
 
A21

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
Phillips 66,
Gtd. Notes
1.300%   02/15/26     22   $19,882
2.150%   12/15/30     53   41,686
Phillips 66 Co.,
Gtd. Notes
2.450%   12/15/24     50   47,956
4.680%   02/15/45     1,900   1,512,639
Pioneer Natural Resources Co.,
Sr. Unsec’d. Notes
1.125%   01/15/26     25   22,577
1.900%   08/15/30     795   623,179
2.150%   01/15/31     5   3,944
Shell International Finance BV (Netherlands),
Gtd. Notes
3.250%   04/06/50     10   6,607
4.000%   05/10/46     20   15,507
Southwestern Energy Co.,
Gtd. Notes
4.750%   02/01/32(a)     525   450,382
TotalEnergies Capital International SA (France),
Gtd. Notes
3.127%   05/29/50     4   2,615
Transocean, Inc.,
Gtd. Notes, 144A
8.000%   02/01/27     125   120,312
Valero Energy Corp.,
Sr. Unsec’d. Notes
2.150%   09/15/27     845   744,070
              27,037,163
Oil & Gas Services — 0.0%
Cameron International Corp.,
Gtd. Notes
7.000%   07/15/38     450   449,105
Halliburton Co.,
Sr. Unsec’d. Notes
2.920%   03/01/30     6   5,113
3.800%   11/15/25     8   7,735
              461,953
Packaging & Containers — 0.2%
Amcor Flexibles North America, Inc.,
Gtd. Notes
2.630%   06/19/30     55   44,439
Ball Corp.,
Gtd. Notes
6.000%   06/15/29(a)     875   850,938
Berry Global, Inc.,
Sr. Sec’d. Notes
1.570%   01/15/26     90   81,337
Sr. Sec’d. Notes, 144A
4.875%   07/15/26     20   19,128
Graphic Packaging International LLC,
Gtd. Notes
4.125%   08/15/24     575   562,226
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Packaging & Containers (cont’d.)
Sr. Sec’d. Notes, 144A
1.512%   04/15/26     30   $26,491
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.,
Sr. Sec’d. Notes, 144A
4.375%   10/15/28     1,450   1,260,281
Sealed Air Corp./Sealed Air Corp. US,
Gtd. Notes, 144A
6.125%   02/01/28(a)     100   96,809
WRKCo, Inc.,
Gtd. Notes
4.650%   03/15/26     25   24,207
4.900%   03/15/29     15   14,305
              2,980,161
Pharmaceuticals — 1.7%
AbbVie, Inc.,
Sr. Unsec’d. Notes
2.950%   11/21/26     300   278,484
3.200%   11/21/29     59   52,055
3.800%   03/15/25     1,040   1,010,990
4.050%   11/21/39     5,170   4,220,870
4.250%   11/14/28     50   47,507
4.300%   05/14/36     10   8,771
4.500%   05/14/35     1,715   1,548,507
4.550%   03/15/35     2,040   1,855,596
4.875%   11/14/48     35   30,611
Astrazeneca Finance LLC (United Kingdom),
Gtd. Notes
2.250%   05/28/31     8   6,441
AstraZeneca PLC (United Kingdom),
Sr. Unsec’d. Notes
0.700%   04/08/26     45   40,107
Bausch Health Americas, Inc.,
Gtd. Notes, 144A
8.500%   01/31/27     320   162,462
Bausch Health Cos., Inc.,
Gtd. Notes, 144A
5.000%   01/30/28     430   174,288
5.000%   02/15/29     250   98,750
5.250%   01/30/30     325   122,078
5.250%   02/15/31     225   86,344
6.250%   02/15/29     1,150   454,250
Becton, Dickinson & Co.,
Sr. Unsec’d. Notes
1.957%   02/11/31     20   15,636
3.700%   06/06/27     136   127,464
3.794%   05/20/50     27   19,420
4.685%   12/15/44     9   7,561
Bristol-Myers Squibb Co.,
Sr. Unsec’d. Notes
2.350%   11/13/40     10   6,327
Cigna Group (The),
Gtd. Notes
3.250%   04/15/25     20   19,228
3.875%   10/15/47     20   14,230
4.375%   10/15/28     1,390   1,313,378
 
A22

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Pharmaceuticals (cont’d.)
4.500%   02/25/26     3,690   $3,587,608
Sr. Unsec’d. Notes
2.400%   03/15/30     140   114,628
3.200%   03/15/40     460   323,156
CVS Health Corp.,
Sr. Unsec’d. Notes
1.750%   08/21/30     60   46,112
2.125%   09/15/31     40   30,582
2.625%   08/15/24     100   97,201
2.700%   08/21/40     480   303,851
3.000%   08/15/26     12   11,156
3.625%   04/01/27     50   46,703
3.750%   04/01/30     110   97,261
5.000%   01/30/29     98   94,811
Johnson & Johnson,
Sr. Unsec’d. Notes
2.100%   09/01/40     10   6,369
Merck & Co., Inc.,
Sr. Unsec’d. Notes
1.450%   06/24/30     25   19,574
2.350%   06/24/40     10   6,536
2.750%   12/10/51     15   9,061
Mylan, Inc.,
Gtd. Notes
5.200%   04/15/48     890   644,988
Novartis Capital Corp. (Switzerland),
Gtd. Notes
2.750%   08/14/50     10   6,353
Organon & Co./Organon Foreign Debt Co-Issuer BV,
Sr. Unsec’d. Notes, 144A
5.125%   04/30/31     800   641,543
Pfizer, Inc.,
Sr. Unsec’d. Notes
3.000%   12/15/26     20   18,720
Shire Acquisitions Investments Ireland DAC,
Gtd. Notes
3.200%   09/23/26     3,785   3,531,342
Takeda Pharmaceutical Co. Ltd. (Japan),
Sr. Unsec’d. Notes
3.025%   07/09/40     525   365,282
Utah Acquisition Sub, Inc.,
Gtd. Notes
3.950%   06/15/26     30   28,089
5.250%   06/15/46     185   135,855
Viatris, Inc.,
Gtd. Notes
3.850%   06/22/40     5   3,253
4.000%   06/22/50     1,292   780,226
Zoetis, Inc.,
Sr. Unsec’d. Notes
3.900%   08/20/28     30   28,169
              22,699,784
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Pipelines — 2.1%
Boardwalk Pipelines LP,
Gtd. Notes
3.400%   02/15/31     1,805   $1,497,069
4.450%   07/15/27     60   56,484
Columbia Pipelines Operating Co. LLC,
Sr. Unsec’d. Notes, 144A
6.036%   11/15/33     1,200   1,172,336
DCP Midstream Operating LP,
Gtd. Notes
3.250%   02/15/32     18   14,485
Energy Transfer LP,
Jr. Sub. Notes, Series B
6.625%(ff)   02/15/28(oo)     10   8,010
Jr. Sub. Notes, Series G
7.125%(ff)   05/15/30(oo)     895   772,162
Jr. Sub. Notes, Series H
6.500%(ff)   11/15/26(oo)     1,365   1,256,991
Sr. Unsec’d. Notes
2.900%   05/15/25     5   4,749
3.750%   05/15/30     60   52,306
4.050%   03/15/25     50   48,600
4.200%   04/15/27     120   112,996
4.250%   04/01/24     5   4,950
4.900%   02/01/24     10   9,957
4.950%   06/15/28     20   19,104
5.000%   05/15/50     293   229,605
5.150%   03/15/45     55   44,065
5.250%   04/15/29     25   23,968
5.300%   04/15/47     120   97,208
5.400%   10/01/47     60   49,347
5.500%   06/01/27     50   49,157
6.100%   02/15/42     5   4,532
6.125%   12/15/45     90   80,371
6.250%   04/15/49     3,633   3,333,273
Sr. Unsec’d. Notes, Series 20Y
5.800%   06/15/38     20   18,247
Enterprise Products Operating LLC,
Gtd. Notes
2.800%   01/31/30     5   4,248
3.125%   07/31/29     30   26,347
3.700%   01/31/51     145   102,100
3.950%   01/31/60     800   562,177
4.150%   10/16/28     30   28,098
4.250%   02/15/48     45   35,206
4.800%   02/01/49     30   25,425
4.850%   03/15/44     25   21,496
4.900%   05/15/46     2,115   1,801,533
Gtd. Notes, Series D
6.875%   03/01/33     10   10,762
Fermaca Enterprises S de RL de CV (Mexico),
Sr. Sec’d. Notes, 144A
6.375%   03/30/38     327   314,941
Florida Gas Transmission Co. LLC,
Sr. Unsec’d. Notes, 144A
2.300%   10/01/31     30   22,828
 
A23

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
Kinder Morgan Energy Partners LP,
Gtd. Notes
4.300%   05/01/24     30   $29,682
4.700%   11/01/42     5   3,877
5.400%   09/01/44     13   10,939
7.300%   08/15/33     10   10,495
Kinder Morgan, Inc.,
Gtd. Notes
1.750%   11/15/26     30   26,689
3.250%   08/01/50     782   466,165
3.600%   02/15/51     1,178   745,080
4.300%   06/01/25     30   29,212
5.300%   12/01/34     23   21,065
Gtd. Notes, 144A
5.625%   11/15/23     37   36,959
Magellan Midstream Partners LP,
Sr. Unsec’d. Notes
4.200%   03/15/45     1,000   668,376
MPLX LP,
Sr. Unsec’d. Notes
1.750%   03/01/26     85   77,073
2.650%   08/15/30     30   24,208
4.000%   02/15/25     55   53,451
4.125%   03/01/27     30   28,369
4.500%   04/15/38     970   784,175
4.800%   02/15/29     40   37,917
4.875%   06/01/25     10   9,805
4.950%   03/14/52     15   11,675
5.200%   03/01/47     115   93,694
5.500%   02/15/49     40   33,866
NGPL PipeCo LLC,
Sr. Unsec’d. Notes, 144A
4.875%   08/15/27     255   240,504
Northern Natural Gas Co.,
Sr. Unsec’d. Notes, 144A
3.400%   10/16/51     5   3,121
Northwest Pipeline LLC,
Sr. Unsec’d. Notes
7.125%   12/01/25     40   40,340
ONEOK Partners LP,
Gtd. Notes
6.850%   10/15/37     1,250   1,262,835
ONEOK, Inc.,
Gtd. Notes
2.200%   09/15/25     50   46,512
3.100%   03/15/30     75   62,775
4.350%   03/15/29     100   92,022
4.500%   03/15/50     2,685   1,944,655
4.950%   07/13/47     450   354,800
Plains All American Pipeline LP/PAA Finance Corp.,
Sr. Unsec’d. Notes
3.550%   12/15/29     20   17,164
3.850%   10/15/23     40   39,948
4.650%   10/15/25     10   9,707
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
Rockies Express Pipeline LLC,
Sr. Unsec’d. Notes, 144A
3.600%   05/15/25     75   $70,717
Southern Natural Gas Co. LLC,
Sr. Unsec’d. Notes
8.000%   03/01/32     10   10,988
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.,
Gtd. Notes, 144A
7.500%   10/01/25     1,150   1,147,188
Targa Resources Corp.,
Gtd. Notes
4.950%   04/15/52     3,746   2,880,180
Targa Resources Partners LP/Targa Resources Partners Finance Corp.,
Gtd. Notes
5.500%   03/01/30     15   14,028
Tennessee Gas Pipeline Co. LLC,
Gtd. Notes
7.000%   03/15/27     10   10,305
7.000%   10/15/28     10   10,374
Gtd. Notes, 144A
2.900%   03/01/30     10   8,356
Transcontinental Gas Pipe Line Co. LLC,
Sr. Unsec’d. Notes
3.250%   05/15/30     80   68,565
Venture Global Calcasieu Pass LLC,
Sr. Sec’d. Notes, 144A
3.875%   08/15/29     115   96,741
4.125%   08/15/31     80   65,661
Western Midstream Operating LP,
Sr. Unsec’d. Notes
5.250%(cc)   02/01/50     5   3,869
5.450%   04/01/44     575   463,882
6.150%   04/01/33     3,000   2,895,475
Williams Cos., Inc. (The),
Sr. Unsec’d. Notes
2.600%   03/15/31     30   23,882
3.750%   06/15/27     25   23,257
4.000%   09/15/25     60   57,794
4.900%   01/15/45     1,200   961,808
5.300%   08/15/52     30   25,525
8.750%   03/15/32     10   11,340
              28,082,223
Real Estate Investment Trusts (REITs) — 0.8%
Alexandria Real Estate Equities, Inc.,
Gtd. Notes
1.875%   02/01/33     5   3,541
2.000%   05/18/32     5   3,635
3.800%   04/15/26     25   23,801
American Tower Corp.,
Sr. Unsec’d. Notes
1.300%   09/15/25     25   22,856
1.600%   04/15/26     50   44,931
2.700%   04/15/31     90   71,378
3.600%   01/15/28     17   15,437
4.000%   06/01/25     75   72,551
 
A24

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Real Estate Investment Trusts (REITs) (cont’d.)
4.400%   02/15/26     25   $24,205
Brixmor Operating Partnership LP,
Sr. Unsec’d. Notes
3.900%   03/15/27     35   32,226
4.050%   07/01/30     1,145   999,831
Crown Castle, Inc.,
Sr. Unsec’d. Notes
1.350%   07/15/25     25   23,027
2.250%   01/15/31     75   58,221
2.500%   07/15/31     35   27,254
3.300%   07/01/30     30   25,310
4.000%   03/01/27     10   9,385
5.200%   02/15/49     10   8,349
Diversified Healthcare Trust,
Gtd. Notes
9.750%   06/15/25     275   265,432
Essex Portfolio LP,
Gtd. Notes
1.650%   01/15/31     25   18,337
Global Net Lease, Inc./Global Net Lease Operating Partnership LP,
Gtd. Notes, 144A
3.750%   12/15/27     20   15,491
GLP Capital LP/GLP Financing II, Inc.,
Gtd. Notes
3.350%   09/01/24     70   68,034
4.000%   01/15/30     50   42,504
4.000%   01/15/31     10   8,324
5.250%   06/01/25     50   48,986
5.750%   06/01/28     50   47,931
Healthpeak OP LLC,
Gtd. Notes
1.350%   02/01/27     15   13,038
Host Hotels & Resorts LP,
Sr. Unsec’d. Notes, Series E
4.000%   06/15/25     40   38,448
Kimco Realty OP LLC,
Gtd. Notes
2.250%   12/01/31     20   14,992
MPT Operating Partnership LP/MPT Finance Corp.,
Gtd. Notes
0.993%   10/15/26   EUR 362   267,907
3.500%   03/15/31     925   578,019
Necessity Retail REIT, Inc. (The)/American Finance Operating Partner LP,
Gtd. Notes, 144A
4.500%   09/30/28     10   7,600
Prologis LP,
Sr. Unsec’d. Notes
1.250%   10/15/30     10   7,467
1.750%   02/01/31     25   19,148
Realty Income Corp.,
Sr. Unsec’d. Notes
1.800%   03/15/33     15   10,526
2.200%   06/15/28     5   4,256
2.850%   12/15/32     530   411,923
3.950%   08/15/27     91   85,145
4.875%   06/01/26     50   48,950
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Real Estate Investment Trusts (REITs) (cont’d.)
Simon Property Group LP,
Sr. Unsec’d. Notes
1.750%   02/01/28     50   $42,419
3.250%   11/30/26     20   18,603
Spirit Realty LP,
Gtd. Notes
2.100%   03/15/28     15   12,622
2.700%   02/15/32     2,190   1,666,176
Sun Communities Operating LP,
Gtd. Notes
4.200%   04/15/32     4,361   3,717,760
Ventas Realty LP,
Gtd. Notes
3.000%   01/15/30     5   4,146
VICI Properties LP/VICI Note Co., Inc.,
Gtd. Notes, 144A
3.500%   02/15/25     25   23,945
4.625%   06/15/25(a)     405   391,396
Welltower OP LLC,
Gtd. Notes
2.050%   01/15/29     15   12,382
2.700%   02/15/27     25   22,732
2.800%   06/01/31     35   27,940
Weyerhaeuser Co.,
Sr. Unsec’d. Notes
7.375%   03/15/32     6   6,497
WP Carey, Inc.,
Sr. Unsec’d. Notes
2.250%   04/01/33     1,930   1,380,022
              10,815,036
Retail — 0.5%
1011778 BC ULC/New Red Finance, Inc. (Canada),
Sec’d. Notes, 144A
4.000%   10/15/30     1,500   1,246,875
Alimentation Couche-Tard, Inc. (Canada),
Sr. Unsec’d. Notes, 144A
3.800%   01/25/50     20   12,964
At Home Group, Inc.,
Sr. Sec’d. Notes, 144A
4.875%   07/15/28     275   110,356
AutoNation, Inc.,
Sr. Unsec’d. Notes
2.400%   08/01/31     25   18,450
Brinker International, Inc.,
Gtd. Notes, 144A
8.250%   07/15/30     950   914,431
eG Global Finance PLC (United Kingdom),
Sr. Sec’d. Notes
6.250%   10/30/25   EUR 1,480   1,514,097
Home Depot, Inc. (The),
Sr. Unsec’d. Notes
3.350%   04/15/50     5   3,407
3.900%   12/06/28     10   9,426
4.875%   02/15/44     10   8,937
 
A25

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Retail (cont’d.)
Lowe’s Cos., Inc.,
Sr. Unsec’d. Notes
1.300%   04/15/28     65   $54,082
1.700%   09/15/28     20   16,690
1.700%   10/15/30     10   7,665
3.650%   04/05/29     30   27,228
McDonald’s Corp.,
Sr. Unsec’d. Notes, MTN
3.800%   04/01/28     30   28,183
Nordstrom, Inc.,
Sr. Unsec’d. Notes
2.300%   04/08/24     20   19,575
O’Reilly Automotive, Inc.,
Sr. Unsec’d. Notes
1.750%   03/15/31     2,155   1,642,044
Ross Stores, Inc.,
Sr. Unsec’d. Notes
4.600%   04/15/25     50   48,991
4.700%   04/15/27     2   1,922
Sally Holdings LLC/Sally Capital, Inc.,
Gtd. Notes
5.625%   12/01/25     454   442,341
Tractor Supply Co.,
Sr. Unsec’d. Notes
1.750%   11/01/30     55   41,791
Walmart, Inc.,
Sr. Unsec’d. Notes
2.375%   09/24/29     2   1,737
2.500%   09/22/41     15   10,009
              6,181,201
Semiconductors — 0.4%
Analog Devices, Inc.,
Sr. Unsec’d. Notes
2.950%   04/01/25     5   4,813
Broadcom Corp./Broadcom Cayman Finance Ltd.,
Gtd. Notes
3.875%   01/15/27     80   75,208
Broadcom, Inc.,
Gtd. Notes
4.150%   11/15/30     9   7,973
Gtd. Notes, 144A
2.450%   02/15/31     30   23,423
Sr. Unsec’d. Notes, 144A
3.137%   11/15/35     3,006   2,190,751
3.187%   11/15/36     110   78,888
3.419%   04/15/33     1,442   1,149,228
3.469%   04/15/34     50   39,213
Intel Corp.,
Sr. Unsec’d. Notes
2.800%   08/12/41     5   3,266
3.050%   08/12/51     15   9,057
3.100%   02/15/60     10   5,744
3.900%   03/25/30     20   18,231
5.900%   02/10/63     630   597,474
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Semiconductors (cont’d.)
Lam Research Corp.,
Sr. Unsec’d. Notes
1.900%   06/15/30     25   $20,045
Microchip Technology, Inc.,
Sr. Unsec’d. Notes
0.972%   02/15/24     65   63,817
NVIDIA Corp.,
Sr. Unsec’d. Notes
1.550%   06/15/28     30   25,596
3.500%   04/01/40     10   7,882
NXP BV/NXP Funding LLC (China),
Gtd. Notes
4.875%   03/01/24     75   74,483
NXP BV/NXP Funding LLC/NXP USA, Inc. (China),
Gtd. Notes
2.500%   05/11/31     65   50,604
2.650%   02/15/32     35   26,924
3.400%   05/01/30     40   34,237
4.300%   06/18/29     110   100,615
Texas Instruments, Inc.,
Sr. Unsec’d. Notes
2.700%   09/15/51     5   3,018
2.900%   11/03/27     10   9,167
              4,619,657
Shipbuilding — 0.0%
Huntington Ingalls Industries, Inc.,
Gtd. Notes
4.200%   05/01/30     20   18,044
Software — 0.7%
Autodesk, Inc.,
Sr. Unsec’d. Notes
2.400%   12/15/31     30   23,606
Boxer Parent Co., Inc.,
Sec’d. Notes, 144A
9.125%   03/01/26     850   848,030
Electronic Arts, Inc.,
Sr. Unsec’d. Notes
1.850%   02/15/31     65   50,384
Fidelity National Information Services, Inc.,
Sr. Unsec’d. Notes
3.100%   03/01/41     10   6,604
Fiserv, Inc.,
Sr. Unsec’d. Notes
2.250%   06/01/27     21   18,624
2.750%   07/01/24     50   48,792
3.500%   07/01/29     40   35,608
3.800%   10/01/23     15   15,000
Microsoft Corp.,
Sr. Unsec’d. Notes
2.400%   08/08/26     10   9,289
2.525%   06/01/50     1,842   1,121,598
2.921%   03/17/52     89   58,394
Oracle Corp.,
Sr. Unsec’d. Notes
1.650%   03/25/26     80   72,437
 
A26

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Software (cont’d.)
2.650%   07/15/26     50   $46,094
2.950%   04/01/30     100   83,984
3.600%   04/01/50     3,500   2,262,079
3.850%   04/01/60     5   3,187
3.950%   03/25/51     5   3,427
4.000%   11/15/47     25   17,481
5.550%   02/06/53     735   644,189
Salesforce, Inc.,
Sr. Unsec’d. Notes
1.500%   07/15/28     10   8,500
Take-Two Interactive Software, Inc.,
Sr. Unsec’d. Notes
5.000%   03/28/26(a)     3,360   3,295,670
              8,672,977
Telecommunications — 1.3%
AT&T, Inc.,
Sr. Unsec’d. Notes
1.700%   03/25/26     200   181,456
2.250%   02/01/32     45   33,869
2.300%   06/01/27(a)     75   66,416
2.550%   12/01/33     347   254,704
2.750%   06/01/31     110   88,115
3.500%   09/15/53     2,881   1,780,041
3.550%   09/15/55     972   595,809
3.650%   09/15/59     180   109,391
3.800%   12/01/57     13   8,233
4.250%   03/01/27     10   9,535
4.500%   05/15/35     900   766,819
4.500%   03/09/48     10   7,577
6.950%   01/15/28     10   10,159
Deutsche Telekom International Finance BV (Germany),
Gtd. Notes
8.750%   06/15/30     10   11,468
Digicel Group Holdings Ltd. (Jamaica),
Sr. Unsec’d. Notes, 144A, Cash coupon 5.000% and PIK 3.000% (original cost $77,063; purchased 03/21/23 - 03/22/23)(f)
8.000%   04/01/25(d)     196   41,231
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica),
Gtd. Notes, 144A (original cost $367,669; purchased 03/09/23)(f)
8.000%   12/31/26(d)     1,471   88,240
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(d)     554   383,893
Sr. Sec’d. Notes, 144A (original cost $202,500; purchased 07/28/20)(f)
8.750%   05/25/24     200   179,352
Sr. Sec’d. Notes, 144A (original cost $1,009,327; purchased 07/27/20)(f)
8.750%   05/25/24     997   887,978
Digicel Ltd. (Jamaica),
Gtd. Notes, 144A
6.750%   03/01/23(d)     500   12,500
Level 3 Financing, Inc.,
Gtd. Notes, 144A
3.625%   01/15/29     40   22,400
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Telecommunications (cont’d.)
Sr. Sec’d. Notes, 144A
10.500%   05/15/30     288   $289,703
Motorola Solutions, Inc.,
Sr. Unsec’d. Notes
2.300%   11/15/30     49   37,961
4.600%   05/23/29     60   56,663
Sprint LLC,
Gtd. Notes
7.625%   02/15/25     2,502   2,541,375
7.625%   03/01/26     100   102,885
T-Mobile USA, Inc.,
Gtd. Notes
2.250%   02/15/26     45   41,450
2.550%   02/15/31     10   7,960
2.625%   02/15/29     10   8,473
3.300%   02/15/51     5   3,104
3.750%   04/15/27     125   116,727
3.875%   04/15/30     137   121,269
4.375%   04/15/40     435   349,370
4.500%   04/15/50     1,985   1,521,975
Verizon Communications, Inc.,
Sr. Unsec’d. Notes
1.500%   09/18/30     75   56,845
1.680%   10/30/30     577   437,648
1.750%   01/20/31     55   41,437
2.100%   03/22/28     230   197,648
2.355%   03/15/32     5,160   3,933,413
2.550%   03/21/31     54   42,961
2.850%   09/03/41     10   6,436
2.875%   11/20/50     45   25,881
3.400%   03/22/41     1,185   835,595
3.550%   03/22/51     60   39,503
4.016%   12/03/29     140   126,635
4.329%   09/21/28     115   107,990
Viasat, Inc.,
Sr. Unsec’d. Notes, 144A
7.500%   05/30/31     500   329,743
              16,919,836
Transportation — 0.2%
Burlington Northern Santa Fe LLC,
Sr. Unsec’d. Notes
3.050%   02/15/51     5   3,158
3.550%   02/15/50     5   3,545
4.900%   04/01/44     10   8,848
Canadian Pacific Railway Co. (Canada),
Gtd. Notes
3.500%   05/01/50     25   17,105
CSX Corp.,
Sr. Unsec’d. Notes
3.250%   06/01/27     10   9,281
3.800%   03/01/28     16   15,028
Forward Air Corp.,
Sr. Sec’d. Notes, 144A
9.500%   10/15/31     500   499,671
 
A27

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Transportation (cont’d.)
Indian Railway Finance Corp. Ltd. (India),
Sr. Unsec’d. Notes, 144A, MTN
3.570%   01/21/32     480   $398,731
Lima Metro Line 2 Finance Ltd. (Peru),
Sr. Sec’d. Notes
5.875%   07/05/34     90   86,033
Norfolk Southern Corp.,
Sr. Unsec’d. Notes
2.900%   06/15/26     14   13,109
3.800%   08/01/28     54   50,307
Union Pacific Corp.,
Sr. Unsec’d. Notes
3.750%   03/15/24     20   19,801
3.799%   10/01/51     9   6,638
3.950%   08/15/59     35   24,989
XPO, Inc.,
Gtd. Notes, 144A
7.125%   06/01/31     850   836,766
              1,993,010
Trucking & Leasing — 0.3%
Penske Truck Leasing Co. LP/PTL Finance Corp.,
Sr. Unsec’d. Notes, 144A
1.200%   11/15/25     20   17,986
1.700%   06/15/26     30   26,593
2.700%   11/01/24     20   19,221
4.000%   07/15/25     25   23,994
5.550%   05/01/28     4,000   3,872,907
              3,960,701
 
Total Corporate Bonds

(cost $521,505,292)

  452,193,354
Floating Rate and Other Loans — 0.9%
Airlines — 0.1%
United Airlines, Inc.,
Class B Term Loan, 1 Month SOFR + 3.864%
9.182%(c)   04/21/28     536   537,782
Commercial Services — 0.0%
Adtalem Global Education, Inc.,
Term B Loan, 1 Month SOFR + 4.114%
9.431%(c)   08/12/28     225   224,569
Computers — 0.1%
McAfee Corp.,
Tranche B-1 Term Loan, 1 Month SOFR + 3.850%
9.180%(c)   03/01/29     1,333   1,299,464
Insurance — 0.1%
Asurion LLC,
New B-09 Term Loan, 1 Month SOFR + 3.364%
8.681%(c)   07/31/27     341   331,279
New B11 Term Loan, 1 Month SOFR + 4.350%
9.666%(c)   08/21/28     458   446,797
              778,076
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%
9.832%(c)   01/18/28     342   $323,113
September 2019 Term Loan, 1 Month LIBOR + 2.500%
7.947%(c)   04/15/27     760   686,649
Diamond Sports Group LLC,
First Lien Term Loan, 1 Month SOFR + 10.100%
12.775%(c)   05/25/26     145   76,437
Second Lien Term Loan, 6 Month SOFR + 3.500%
10.684%   08/24/26     1,959   44,073
              1,130,272
Metal Fabricate/Hardware — 0.1%
Tank Holding Corp.,
2023 Incremental Term Loan, 1 Month SOFR + 6.100%
11.420%(c)   03/31/28     188   183,353
Term Loan, 1 Month SOFR + 5.850%
11.166%(c)   03/31/28     1,407   1,358,523
              1,541,876
Real Estate Investment Trusts (REITs) — 0.0%
Blackstone Mortgage Trust, Inc.,
Term Loan, 1 Month SOFR + 2.364%
7.681%(c)   04/23/26     486   475,949
Retail — 0.3%
EG Group Ltd. (United Kingdom),
Additional Second Lien Loan Facility, 3 Month EURIBOR + 7.000%
10.972%(c)   04/30/27   EUR 3,500   3,415,909
Great Outdoors Group LLC,
Term B-2 Loan, 3 Month SOFR + 4.012%
9.402%(c)   03/06/28     796   793,286
              4,209,195
Telecommunications — 0.1%
Digicel International Finance Ltd. (Jamaica),
First Lien Initial Term B Loan, 6 Month LIBOR + 3.250%
8.981%(c)   05/27/24     1,364   1,225,289
 
Total Floating Rate and Other Loans

(cost $13,064,608)

  11,422,472
Municipal Bonds — 1.1%
Arizona — 0.0%
Salt River Project Agricultural Improvement & Power District,
Revenue Bonds, BABs
4.839%   01/01/41     30   27,023
California — 0.3%
Bay Area Toll Authority,
Taxable, Revenue Bonds, BABs, Series S3
6.907%   10/01/50     1,125   1,296,282
State of California,
General Obligation Unlimited, BABs
7.300%   10/01/39     1,550   1,762,096
General Obligation Unlimited, Taxable, BABs
7.625%   03/01/40     725   851,689
              3,910,067
 
A28

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Municipal Bonds (continued)
Colorado — 0.1%
Colorado Health Facilities Authority,
Taxable, Revenue Bonds, Series B
2.800%   12/01/26     5   $4,623
Regional Transportation District Sales Tax Revenue,
Revenue Bonds, BABs, Series B
5.844%   11/01/50     770   790,126
              794,749
Illinois — 0.1%
Chicago O’Hare International Airport,
Revenue Bonds, BABs, Series B
6.395%   01/01/40     1,380   1,462,483
State of Illinois,
General Obligation Unlimited, Taxable, Series A
3.140%   10/01/24     35   34,106
              1,496,589
Missouri — 0.0%
Health & Educational Facilities Authority of the State of Missouri,
Taxable, Revenue Bonds, Series A
3.652%   08/15/57     20   14,339
New Jersey — 0.3%
New Jersey Turnpike Authority,
Taxable, Revenue Bonds, BABs, Series A
7.102%   01/01/41     1,175   1,331,976
Taxable, Revenue Bonds, BABs, Series F
7.414%   01/01/40     2,050   2,390,655
              3,722,631
New York — 0.0%
New York State Urban Development Corp.,
Taxable, Revenue Bonds, Series B
2.590%   03/15/35     20   15,111
Port Authority of New York & New Jersey,
Revenue Bonds
6.040%   12/01/29     25   25,774
              40,885
Ohio — 0.1%
Ohio State University (The),
Taxable, Revenue Bonds, BABs, Series C
4.910%   06/01/40     695   640,866
Oregon — 0.0%
State of Oregon Department of Transportation,
Taxable, Revenue Bonds, BABs, Series A
5.834%   11/15/34     615   635,617
Pennsylvania — 0.1%
Pennsylvania Turnpike Commission,
Revenue Bonds, BABs, Series B
5.511%   12/01/45     825   788,913
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   1,540,580
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Municipal Bonds (continued)
Texas — 0.0%
Grand Parkway Transportation Corp.,
Taxable, Revenue Bonds, Series B
3.236%   10/01/52     20   $12,955
Texas Private Activity Bond Surface Transportation Corp.,
Taxable, Revenue Bonds, Series B
3.922%   12/31/49     450   336,411
              349,366
 
Total Municipal Bonds

(cost $13,264,642)

  13,961,625
Residential Mortgage-Backed Securities — 3.5%
Alternative Loan Trust,
Series 2004-18CB, Class 3A1
5.250%   09/25/35     12   10,781
Bellemeade Re Ltd.,
Series 2020-03A, Class M1C, 144A, 30 Day Average SOFR + 3.814% (Cap N/A, Floor 3.700%)
9.134%(c)   10/25/30     139   140,117
Series 2021-03A, Class M1B, 144A, 30 Day Average SOFR + 1.400% (Cap N/A, Floor 1.400%)
6.715%(c)   09/25/31     200   199,285
Series 2022-01, Class M1B, 144A, 30 Day Average SOFR + 2.150% (Cap N/A, Floor 2.150%)
7.465%(c)   01/26/32     490   489,188
Series 2022-01, Class M1C, 144A, 30 Day Average SOFR + 3.700% (Cap N/A, Floor 3.700%)
9.015%(c)   01/26/32     1,240   1,251,556
Citigroup Mortgage Loan Trust,
Series 2011-12, Class 3A2, 144A
4.163%(cc)   09/25/47     236   206,982
Connecticut Avenue Securities Trust,
Series 2018-R07, Class 1B1, 144A, 30 Day Average SOFR + 4.464% (Cap N/A, Floor 0.000%)
9.779%(c)   04/25/31     370   392,183
Series 2019-R07, Class 1M2, 144A, 30 Day Average SOFR + 2.214% (Cap N/A, Floor 0.000%)
7.529%(c)   10/25/39     15   15,468
Series 2022-R01, Class 1B1, 144A, 30 Day Average SOFR + 3.150% (Cap N/A, Floor 0.000%)
8.465%(c)   12/25/41     200   200,991
Series 2022-R04, Class 1B1, 144A, 30 Day Average SOFR + 5.250% (Cap N/A, Floor 0.000%)
10.565%(c)   03/25/42     260   276,653
Series 2023-R05, Class 1M2, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 3.100%)
8.415%(c)   06/25/43     1,400   1,434,356
Series 2023-R06, Class 1M2, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 0.000%)
8.015%(c)   07/25/43     500   502,653
Credit Suisse Mortgage Trust,
Series 2020-RPL05, Class A1, 144A
3.023%(cc)   08/25/60     300   294,676
Series 2022-RPL04, Class A1, 144A
3.904%(cc)   04/25/62     1,260   1,152,804
 
A29

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 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%)
7.129%(c)   11/25/28     585   $585,468
Series 2021-01, Class M1C, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 2.700%)
8.015%(c)   10/25/33     664   667,359
Series 2021-02, Class M1C, 144A, 30 Day Average SOFR + 3.450% (Cap N/A, Floor 3.450%)
8.765%(c)   04/25/34     910   919,007
Fannie Mae REMIC,
Series 2011-116, Class ZA
3.500%   11/25/41     1,614   1,443,923
Series 2012-34, Class EB
4.000%   04/25/42     1,575   1,377,470
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%)
9.315%(c)   11/25/50     900   952,338
Series 2020-HQA05, Class M2, 144A, 30 Day Average SOFR + 2.600% (Cap N/A, Floor 0.000%)
7.915%(c)   11/25/50     2,131   2,156,111
Series 2021-DNA02, Class B1, 144A, 30 Day Average SOFR + 3.400% (Cap N/A, Floor 0.000%)
8.715%(c)   08/25/33     3,635   3,726,010
FHLMC Structured Agency Credit Risk REMIC Trust,
Series 2020-DNA02, Class M2, 144A, 30 Day Average SOFR + 1.964% (Cap N/A, Floor 0.000%)
7.279%(c)   02/25/50     424   424,670
Series 2020-DNA04, Class B1, 144A, 30 Day Average SOFR + 6.114% (Cap N/A, Floor 0.000%)
11.429%(c)   08/25/50     493   549,787
Series 2020-DNA05, Class B1, 144A, 30 Day Average SOFR + 4.800% (Cap N/A, Floor 0.000%)
10.115%(c)   10/25/50     670   728,589
Series 2020-DNA05, Class M2, 144A, 30 Day Average SOFR + 2.800% (Cap N/A, Floor 0.000%)
8.115%(c)   10/25/50     145   146,053
Series 2020-HQA02, Class M2, 144A, 30 Day Average SOFR + 3.214% (Cap N/A, Floor 0.000%)
8.529%(c)   03/25/50     31   32,390
Series 2020-HQA04, Class B1, 144A, 30 Day Average SOFR + 5.364% (Cap N/A, Floor 0.000%)
10.679%(c)   09/25/50     288   310,624
Series 2021-DNA01, Class B1, 144A, 30 Day Average SOFR + 2.650% (Cap N/A, Floor 0.000%)
7.965%(c)   01/25/51     355   347,893
Series 2021-DNA05, Class B1, 144A, 30 Day Average SOFR + 3.050% (Cap N/A, Floor 0.000%)
8.365%(c)   01/25/34     490   491,224
Series 2021-DNA05, Class M2, 144A, 30 Day Average SOFR + 1.650% (Cap N/A, Floor 0.000%)
6.965%(c)   01/25/34     262   261,322
Series 2021-DNA07, Class M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 0.000%)
7.115%(c)   11/25/41     100   97,656
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 2021-HQA01, Class B1, 144A, 30 Day Average SOFR + 3.000% (Cap N/A, Floor 0.000%)
8.315%(c)   08/25/33     360   $355,310
Series 2021-HQA01, Class M2, 144A, 30 Day Average SOFR + 2.250% (Cap N/A, Floor 0.000%)
7.565%(c)   08/25/33     3,856   3,833,388
Series 2021-HQA03, Class B1, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%)
8.665%(c)   09/25/41     240   239,706
Series 2021-HQA03, Class M2, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%)
7.415%(c)   09/25/41     1,020   999,743
Series 2021-HQA04, Class M2, 144A, 30 Day Average SOFR + 2.350% (Cap N/A, Floor 0.000%)
7.665%(c)   12/25/41     800   773,000
Series 2022-DNA01, Class M1B, 144A, 30 Day Average SOFR + 1.850% (Cap N/A, Floor 0.000%)
7.165%(c)   01/25/42     100   98,626
Series 2022-DNA02, Class M1B, 144A, 30 Day Average SOFR + 2.400% (Cap N/A, Floor 0.000%)
7.715%(c)   02/25/42     1,100   1,105,532
Series 2022-DNA03, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 0.000%)
8.215%(c)   04/25/42     100   102,147
Freddie Mac REMIC,
Series 4289, Class WZ
3.000%   01/15/44     697   602,799
Series 4768, Class GA
3.500%   09/15/45     442   415,604
Series 4939, Class KT
3.000%   07/15/48     422   361,352
GCAT Asset-Backed Notes,
Series 2021-01, Class A1, 144A
2.487%   11/25/49     2,481   2,258,804
Home Re Ltd.,
Series 2019-01, Class M1, 144A, 1 Month LIBOR + 1.650% (Cap N/A, Floor 0.000%)
7.084%(c)   05/25/29     179   179,317
Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 1.600% (Cap N/A, Floor 0.000%)
6.915%(c)   01/25/34     295   294,969
Series 2021-02, Class M1C, 144A, 30 Day Average SOFR + 2.800% (Cap N/A, Floor 0.000%)
8.115%(c)   01/25/34     815   821,900
JPMorgan Mortgage Trust,
Series 2023-HE02, Class A1, 144A, 30 Day Average SOFR + 1.700% (Cap N/A, Floor 0.000%)
7.016%(c)   03/25/54     275   275,000
Legacy Mortgage Asset Trust,
Series 2020-GS01, Class A1, 144A
5.882%   10/25/59     855   849,886
Series 2020-SL01, Class A, 144A
5.734%   01/25/60     133   133,216
 
A30

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Residential Mortgage-Backed Securities
(continued)
New Residential Mortgage Loan Trust,
Series 2018-04A, Class A1S, 144A, 1 Month SOFR + 0.864% (Cap N/A, Floor 0.750%)
6.184%(c)   01/25/48     353   $342,431
Oaktown Re VII Ltd.,
Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 2.900%)
8.215%(c)   04/25/34     900   908,886
PMT Credit Risk Transfer Trust,
Series 2019-02R, Class A, 144A, 1 Month SOFR + 3.864% (Cap N/A, Floor 2.750%)
9.182%(c)   05/30/25     521   520,522
Series 2023-1R, Class A, 144A, 30 Day Average SOFR + 4.400% (Cap N/A, Floor 0.000%)
9.715%(c)   03/27/25     2,741   2,749,987
PNMAC GMSR Issuer Trust,
Series 2018-GT01, Class A, 144A, 1 Month LIBOR + 3.850% (Cap N/A, Floor 2.850%)
9.284%(c)   02/25/25     1,280   1,280,939
Series 2018-GT02, Class A, 144A, 1 Month LIBOR + 2.650% (Cap N/A, Floor 0.000%)
8.084%(c)   08/25/25     1,200   1,199,760
Radnor Re Ltd.,
Series 2021-02, Class M1A, 144A, 30 Day Average SOFR + 1.850% (Cap N/A, Floor 1.850%)
7.165%(c)   11/25/31     340   339,875
Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 3.700% (Cap N/A, Floor 3.700%)
9.015%(c)   11/25/31     900   922,052
Series 2023-01, Class M1A, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 2.700%)
8.015%(c)   07/25/33     750   753,721
Shamrock Residential (Ireland),
Series 2023-01A, Class A, 144A, 1 Month EURIBOR + 1.000% (Cap N/A, Floor 0.000%)
4.869%(c)   06/24/71   EUR 372   391,261
Structured Adjustable Rate Mortgage Loan Trust,
Series 2004-01, Class 4A3
6.379%(cc)   02/25/34     141   131,200
Series 2004-18, Class 3A1
5.490%(cc)   12/25/34     1,068   976,311
 
Total Residential Mortgage-Backed Securities

(cost $46,645,597)

  46,002,831
Sovereign Bonds — 1.8%
Bermuda Government International Bond (Bermuda),
Sr. Unsec’d. Notes, 144A
2.375%   08/20/30     570   456,599
Brazil Minas SPE via State of Minas Gerais (Brazil),
Gov’t. Gtd. Notes
5.333%   02/15/28     803   778,529
Colombia Government International Bond (Colombia),
Sr. Unsec’d. Notes
4.500%   01/28/26     250   238,738
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   $1,079,051
6.000%   07/19/28     575   545,997
Hellenic Republic Government International Bond (Greece),
Sr. Unsec’d. Notes
5.200%   07/17/34   EUR 1,500   1,601,678
Hungary Government International Bond (Hungary),
Sr. Unsec’d. Notes
5.375%   03/25/24     50   49,875
Indonesia Government International Bond (Indonesia),
Sr. Unsec’d. Notes
1.100%   03/12/33   EUR 410   311,783
1.450%   09/18/26   EUR 375   362,698
3.375%   07/30/25   EUR 3,125   3,241,330
Sr. Unsec’d. Notes, EMTN
3.750%   06/14/28   EUR 1,250   1,290,228
Japan Bank for International Cooperation (Japan),
Gov’t. Gtd. Notes, Series DTC
2.500%   05/23/24     1,000   979,511
Japan Finance Organization for Municipalities (Japan),
Sr. Unsec’d. Notes, 144A, MTN
1.750%   09/05/24     600   577,336
3.000%   03/12/24     600   592,738
Peruvian Government International Bond (Peru),
Sr. Unsec’d. Notes
2.783%   01/23/31     10   8,171
Republic of Italy Government International Bond (Italy),
Sr. Unsec’d. Notes
2.875%   10/17/29     200   171,183
Sr. Unsec’d. Notes, MTN
5.375%   06/15/33     4,930   4,677,278
Romanian Government International Bond (Romania),
Sr. Unsec’d. Notes, 144A, MTN
3.875%   10/29/35   EUR 278   227,987
5.000%   09/27/26   EUR 1,200   1,267,810
Sr. Unsec’d. Notes, EMTN
3.875%   10/29/35   EUR 398   326,399
Serbia International Bond (Serbia),
Sr. Unsec’d. Notes
1.500%   06/26/29   EUR 1,443   1,170,220
3.125%   05/15/27   EUR 2,371   2,260,578
Sr. Unsec’d. Notes, 144A
1.650%   03/03/33   EUR 249   171,161
6.250%   05/26/28     440   430,848
Ukraine Government International Bond (Ukraine),
Sr. Unsec’d. Notes
7.750%   09/01/24(d)     920   310,500
8.994%   02/01/26(d)     200   63,300
Sr. Unsec’d. Notes, 144A
4.375%   01/27/32(d)   EUR 1,090   270,815
7.750%   09/01/24(d)     930   313,875
8.994%   02/01/26(d)     200   63,300
9.750%   11/01/30(d)     400   118,000
 
Total Sovereign Bonds

(cost $29,726,052)

  23,957,516
 
A31

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
U.S. Government Agency Obligations — 17.5%
Federal Home Loan Bank
3.500%   06/11/32     190   $167,927
Federal Home Loan Mortgage Corp.
2.000%   05/01/51     2,201   1,681,501
2.500%   03/01/51     2,966   2,372,501
2.500%   07/01/51     1,900   1,513,392
2.500%   08/01/51     3,866   3,076,660
3.000%   07/01/51     714   592,533
3.000%   02/01/52     2,433   2,014,778
3.000%   04/01/52     6,712   5,556,256
3.500%   02/01/47     686   607,552
3.500%   05/01/52     3,582   3,081,405
4.000%   10/01/52     13,206   11,763,065
4.500%   08/01/52     3,449   3,168,509
4.500%   10/01/52(k)     24,983   22,947,552
5.000%   10/01/52     13,600   12,840,633
5.000%   11/01/52     5,932   5,600,566
5.500%   10/01/33     310   309,142
5.500%   06/01/34     3   2,520
5.500%   12/01/52     892   863,125
6.000%   11/01/33     24   24,146
6.000%   05/01/34     38   37,432
6.000%   06/01/34     63   62,254
6.250%   07/15/32(k)     555   613,555
6.500%   07/01/32     4   4,114
6.500%   07/01/32     9   8,665
6.500%   08/01/32     18   17,936
6.500%   08/01/32     18   18,442
6.500%   08/01/32     20   20,421
6.500%   09/01/32     22   22,022
6.500%   09/01/32     64   64,256
6.750%   03/15/31(k)     545   609,739
Federal National Mortgage Assoc.
1.500%   02/01/51     17,372   12,528,917
1.500%   05/01/51     570   410,861
2.000%   03/01/51     6,935   5,300,372
2.000%   10/01/51     8,972   6,846,393
2.500%   TBA(tt)     3,000   2,380,893
2.500%   06/01/50     2,466   1,979,084
2.500%   10/01/50     8,388   6,711,295
2.500%   01/01/51     2,653   2,120,141
2.500%   02/01/51     530   422,268
2.500%   03/01/51     3,971   3,174,423
2.500%   05/01/51     800   638,327
2.500%   07/01/51     1,568   1,250,899
3.000%   TBA     2,000   1,656,016
3.000%   TBA(tt)     5,000   4,133,789
3.000%   11/01/51     1,550   1,290,088
3.000%   11/01/51     1,760   1,462,707
3.000%   11/01/51     13,809   11,453,341
3.000%   12/01/51     2,338   1,944,329
3.000%   02/01/52     530   438,885
3.000%   03/01/52     1,969   1,630,961
3.000%   04/01/52     5,557   4,601,288
3.500%   02/01/52     6,262   5,395,335
3.500%   05/01/52     5,877   5,061,051
4.500%   08/01/40     807   762,129
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
U.S. Government Agency Obligations (continued)
4.500%   10/01/52     13,127   $12,058,503
5.000%   11/01/52     13,394   12,646,506
5.000%   12/01/52     5,258   4,964,157
5.000%   03/01/53     9,333   8,829,941
5.000%   05/01/53     940   890,616
5.500%   02/01/33     5   4,677
5.500%   02/01/33     7   6,799
5.500%   03/01/33     9   9,347
5.500%   03/01/33     17   16,556
5.500%   03/01/33     20   20,206
5.500%   04/01/33     2   2,482
5.500%   04/01/33     11   11,241
5.500%   04/01/33     12   11,985
5.500%   04/01/33     15   15,027
5.500%   07/01/33     13   12,201
5.500%   07/01/33     14   14,188
5.500%   08/01/33     12   12,212
5.500%   02/01/34     13   13,043
5.500%   04/01/34     12   11,966
5.500%   06/01/34     16   15,324
6.000%   10/01/33     1   1,399
6.000%   10/01/33     151   150,433
6.000%   03/01/34     21   20,823
6.000%   02/01/35     82   82,169
6.000%   11/01/36     25   25,603
6.000%   12/01/52     3,258   3,216,948
6.500%   08/01/32     59   59,247
6.500%   09/01/32     48   48,441
6.500%   09/01/32     77   78,446
6.500%   10/01/32     35   35,221
6.500%   04/01/33     63   64,268
6.500%   11/01/33     3   2,539
6.500%   06/01/53     1,013   1,017,952
6.625%   11/15/30(k)     830   918,523
7.000%   05/01/32     44   43,969
7.000%   06/01/32     3   3,460
7.125%   01/15/30(k)     785   882,328
Government National Mortgage Assoc.
2.500%   TBA     2,500   2,043,062
2.500%   03/20/51     1,096   896,531
2.500%   04/20/51     1,087   890,343
3.500%   01/20/48     101   89,527
3.500%   05/20/52     467   409,199
4.000%   02/20/49     206   187,895
4.500%   TBA(tt)     2,000   1,847,578
4.500%   08/20/52     498   460,374
5.000%   07/20/52     532   504,177
5.000%   09/20/52     1,422   1,349,832
5.500%   01/15/33     27   26,589
5.500%   02/15/33     15   14,573
5.500%   05/15/33     44   43,077
5.500%   05/15/33     125   121,250
5.500%   06/15/33     93   90,179
5.500%   09/15/33     20   19,514
5.500%   07/15/35     29   28,621
5.500%   09/20/52     1,638   1,590,319
5.500%   11/20/52     9,136   8,867,933
 
A32

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
U.S. Government Agency Obligations (continued)
6.000%   12/15/32     55   $56,140
6.000%   11/15/33     23   23,569
6.000%   01/15/34     6   5,773
6.000%   06/20/34     154   158,325
6.000%   11/15/34     216   217,730
6.500%   09/15/32     28   27,965
6.500%   09/15/32     75   75,357
6.500%   09/15/32     112   112,762
6.500%   11/15/33     62   62,517
 
Total U.S. Government Agency Obligations

(cost $242,859,684)

  229,695,848
U.S. Treasury Obligations — 5.7%
U.S. Treasury Bonds
1.750%   08/15/41(a)     14,386   8,959,781
1.875%   02/15/41     138   88,709
2.250%   05/15/41(a)(h)(k)     78,945   54,163,671
3.375%   08/15/42     3,710   3,008,578
U.S. Treasury Strips Coupon
0.000%(s)   02/15/41     130   53,666
1.467%(s)   11/15/41     500   198,613
2.208%(s)   05/15/39     1,575   719,640
2.335%(s)   08/15/44     2,500   870,898
2.364%(s)   05/15/45     3,420   1,148,906
2.377%(s)   08/15/45     1,250   415,674
2.387%(s)   05/15/43     4,015   1,480,688
2.395%(s)   11/15/43     619   223,179
2.423%(s)   11/15/40     430   180,197
2.423%(s)   05/15/44     7,225   2,546,248
3.143%(s)   08/15/41     1,350   542,215
3.176%(s)   08/15/40     120   51,070
 
Total U.S. Treasury Obligations

(cost $108,455,743)

  74,651,733
    
      Shares  
Common Stocks — 0.2%
Chemicals — 0.0%
TPC Group, Inc.*^

14,880 372,000
Gas Utilities — 0.1%
Ferrellgas Partners LP (Class B Stock) (original cost $1,543,888; purchased 10/25/19)(f)

5,622 909,987
Oil, Gas & Consumable Fuels — 0.1%
Chesapeake Energy Corp.(a)

12,213 1,053,127
 
Total Common Stocks

(cost $1,102,049)

2,335,114
Preferred Stocks — 0.1%
Banks — 0.1%
Citigroup Capital XIII, 12.001%(c), 3 Month SOFR + 6.632%, Maturing 10/30/40

45,000 1,319,850
      Shares   Value
 
Preferred Stocks (continued)
Capital Markets — 0.0%
State Street Corp., 5.350%(ff), Series G, Maturing 03/15/26(oo)

35,000   $812,000
 
Total Preferred Stocks

(cost $2,000,000)

  2,131,850
 
Total Long-Term Investments

(cost $1,471,634,905)

  1,320,264,643
Short-Term Investments — 5.1%
Affiliated Mutual Funds — 5.1%
PGIM Core Ultra Short Bond Fund(wb)

3,755,008   3,755,008
PGIM Institutional Money Market Fund

(cost $63,976,369; includes $63,629,646 of cash collateral for securities on loan)(b)(wb)

64,032,314   63,993,894
 
Total Affiliated Mutual Funds

(cost $67,731,377)

  67,748,902
    
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
 
Corporate Bond — 0.0%
Entertainment
Warnermedia Holdings, Inc.,
Gtd. Notes
3.528%   03/15/24     20 19,737
(cost $19,964)      
 
Total Short-Term Investments

(cost $67,751,341)

  67,768,639
 
TOTAL INVESTMENTS, BEFORE OPTION WRITTEN—105.6%

(cost $1,539,386,246)

  1,388,033,282
Option Written*~ — (0.0)%
(premiums received $0)

  (70)
 
TOTAL INVESTMENTS, NET OF OPTION WRITTEN—105.6%

(cost $1,539,386,246)

  1,388,033,212
 
Liabilities in excess of other assets(z) — (5.6)%

  (74,194,966)
 
Net Assets — 100.0%

  $1,313,838,246
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
CAD Canadian Dollar
EUR Euro
GBP British Pound
NZD New Zealand Dollar
    
 
A33

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
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
CITI Citibank, N.A.
CLO Collateralized Loan Obligation
CME Chicago Mercantile Exchange
DAC Designated Activity Company
EMTN Euro Medium Term Note
EURIBOR Euro Interbank Offered Rate
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
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
STRIPs Separate Trading of Registered Interest and Principal of Securities
T Swap payment upon termination
TBA To Be Announced
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. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments.
^ Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $2,824,900 and 0.2% 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 $62,550,928; cash collateral of $63,629,646 (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 September 30, 2023.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of September 30, 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 $5,494,090. The aggregate value of $2,581,673 is 0.2% 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.
(p) Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end.
(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 $10,000,000 is 0.8% of net assets.
(wb) Represents an investment in a Fund affiliated with the Manager.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
A34

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Unfunded loan commitment outstanding at September 30, 2023:
Borrower   Principal
Amount
(000)#
  Current
Value
  Unrealized
Appreciation
  Unrealized
Depreciation
Tank Holding Corp., Delayed Draw Term Commitment, —%(p), Maturity Date 03/31/28 (cost $79,859)    81,000   $78,975   $—   $(884)
Forward Commitment Contracts:                      
U.S. Government Agency Obligations   Interest
Rate
  Maturity
Date
  Settlement
Date
  Principal
Amount
(000)#
Value
Federal National Mortgage Assoc.   4.500%   TBA   10/12/23     $(2,000)   $(1,836,250)
Federal National Mortgage Assoc.   5.000%   TBA   11/13/23     (18,000)   (16,987,500)
Federal National Mortgage Assoc.   5.500%   TBA   10/12/23     (1,000)   (966,367)
TOTAL FORWARD COMMITMENT CONTRACTS
(proceeds receivable $19,946,113)
                    $(19,790,117)
Option Written:
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   $(70)
(premiums received $0)                        
†† 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.
    
Futures contracts outstanding at September 30, 2023:
Number
of
Contracts
  Type   Expiration
Date
  Current
Notional
Amount
  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
3   3 Month CME SOFR   Dec. 2023   $709,725   $238
266   3 Month CME SOFR   Mar. 2024   62,875,750   (38,418)
3   3 Month CME SOFR   Jun. 2024   709,688   (530)
680   2 Year U.S. Treasury Notes   Dec. 2023   137,843,438   (308,834)
212   5 Year U.S. Treasury Notes   Dec. 2023   22,336,189   (233,643)
811   10 Year U.S. Treasury Notes   Dec. 2023   87,638,688   (1,553,358)
219   10 Year U.S. Ultra Treasury Notes   Dec. 2023   24,432,188   (710,473)
236   30 Year U.S. Ultra Treasury Bonds   Dec. 2023   28,010,250   (1,844,534)
                (4,689,552)
Short Positions:
71   5 Year Euro-Bobl   Dec. 2023   8,688,745   118,135
90   10 Year Euro-Bund   Dec. 2023   12,240,418   279,575
154   20 Year U.S. Treasury Bonds   Dec. 2023   17,522,313   758,512
28   Euro Schatz Index   Dec. 2023   3,108,019   13,833
                1,170,055
                $(3,519,497)
A35

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Forward foreign currency exchange contracts outstanding at September 30, 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 10/03/23   BARC   GBP 8,802   $10,747,834   $10,739,279   $  $(8,555)
Expiring 10/03/23   BARC   GBP 169   208,856   205,611     (3,245)
Expiring 10/03/23   MSI   GBP 169   210,762   205,936     (4,826)
Euro,
Expiring 10/03/23   BARC   EUR 788   846,698   833,516     (13,182)
Expiring 10/03/23   BARC   EUR 83   88,865   88,001     (864)
Expiring 10/03/23   BNP   EUR 97,810   103,512,149   103,426,646     (85,503)
Expiring 11/02/23   HSBC   EUR 237   250,000   250,522   522  
New Zealand Dollar,
Expiring 10/19/23   BARC   NZD 1,620   1,020,955   971,237     (49,718)
              $116,886,119   $116,720,748   522   (165,893)
    
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 10/03/23   MSI   GBP 9,139   $11,538,776   $11,150,826   $387,950   $
Expiring 11/02/23   BARC   GBP 8,802   10,749,577   10,741,289   8,288  
Euro,
Expiring 10/03/23   GSI   EUR 96,586   104,336,214   102,132,199   2,204,015  
Expiring 10/03/23   HSBC   EUR 1,738   1,893,187   1,837,417   55,770  
Expiring 10/03/23   MSI   EUR 358   382,595   378,547   4,048  
Expiring 11/02/23   BNP   EUR 97,810   103,639,302   103,559,724   79,578  
New Zealand Dollar,
Expiring 10/19/23   CITI   NZD 1,620   966,261   971,237     (4,976)
              $233,505,912   $230,771,239   2,739,649   (4,976)
                      $2,740,171   $(170,869)
Credit default swap agreements outstanding at September 30, 2023:
Reference Entity/
Obligation
  Termination
Date
  Fixed
Rate
  Notional
Amount
(000)#(3)
  Implied
Credit
Spread at
September 30,
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   10/16/23   0.500%(M)     8,459   *   $5,513   $(117)   $5,630   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   $(29,321)   $(56,092)   $26,771   BARC
United Mexican States   12/20/24   1.000%(Q)     160   (1,210)   275   (1,485)   CITI
United Mexican States   12/20/24   1.000%(Q)     130   (982)   268   (1,250)   CITI
                    $(31,513)   $(55,549)   $24,036    
    
A36

PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Credit default swap agreements outstanding at September 30, 2023 (continued):
Reference Entity/
Obligation
  Termination
Date
  Fixed
Rate
  Notional
Amount
(000)#(3)
  Implied
Credit
Spread at
September 30,
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):
Bombardier, Inc.   12/20/23   5.000%(Q)     800   1.337%   $7,789   $6,527   $1,262   MSI
International Bank for Reconstruction & Development   03/20/24   0.250%(Q)     10,710   0.216%   2,510   4,961   (2,451)   BOA
Petroleos Mexicanos   12/20/24   1.000%(Q)     160   3.525%   (4,670)   (3,689)   (981)   CITI
Petroleos Mexicanos   12/20/24   1.000%(Q)     130   3.525%   (3,794)   (3,032)   (762)   CITI
                      $1,835   $4,767   $(2,932)    
    
Reference Entity/
Obligation
Termination
Date
  Fixed
Rate
  Notional
Amount
(000)#(3)
  Implied Credit
Spread at
September 30,
2023(4)
  Value at
Trade Date
  Value at
September 30,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):
CDX.NA.HY.41.V1 12/20/28   5.000%(Q)     47,170   4.795%   $366,130   $455,696   $89,566
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 September 30, 2023 (unaudited)
 Interest rate swap agreements outstanding at September 30, 2023:
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
September 30,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements:
GBP 3,946   05/08/26   1.000%(A)   1 Day SONIA(1)(A)/ 5.187%   $(184,608)   $533,860   $718,468
GBP 2,920   05/08/27   1.050%(A)   1 Day SONIA(1)(A)/ 5.187%   150,731   486,363   335,632
GBP 2,100   05/08/30   1.100%(A)   1 Day SONIA(1)(A)/ 5.187%   (145,549)   519,517   665,066
GBP 767   05/08/31   1.150%(A)   1 Day SONIA(2)(A)/ 5.187%   38,111   (206,155)   (244,266)
GBP 740   05/08/32   1.150%(A)   1 Day SONIA(1)(A)/ 5.187%   52,659   218,217   165,558
GBP 230   05/08/34   1.200%(A)   1 Day SONIA(1)(A)/ 5.187%   (9,088)   77,517   86,605
  41,700   03/08/24   5.386%(T)   1 Day SOFR(2)(T)/ 5.310%   (65)   40,881   40,946
  134,680   08/31/24   5.384%(T)   1 Day SOFR(2)(T)/ 5.310%     (103,979)   (103,979)
  13,780   03/08/25   4.946%(A)   1 Day SOFR(2)(A)/ 5.310%     (70,704)   (70,704)
  17,596   03/09/25   5.110%(A)   1 Day SOFR(2)(A)/ 5.310%     (34,529)   (34,529)
  35,145   03/10/25   5.088%(A)   1 Day SOFR(2)(A)/ 5.310%     (84,381)   (84,381)
  69,445   08/31/25   4.805%(A)   1 Day SOFR(1)(A)/ 5.310%     298,095   298,095
  9,580   09/25/26   4.699%(A)   1 Day SOFR(1)(A)/ 5.310%   1,772   (13,164)   (14,936)
                    $(96,037)   $1,661,538   $1,757,575
    
(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 September 30, 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 -45 bps(T)/ 4.880%   GSI   03/20/24   (18,694)   $833,255   $—   $833,255
U.S. Treasury Bond(T)   1 Day USOIS +20 bps(T)/ 5.530%   JPM   12/02/23   15,220   (2,110,971)     (2,110,971)
U.S. Treasury Bond(T)   1 Day USOIS +18 bps(T)/ 5.510%   JPM   01/18/24   8,530   (905,536)     (905,536)
U.S. Treasury Bond(T)   1 Day USOIS +18 bps(T)/ 5.510%   GSI   01/19/24   15,820   (1,728,731)     (1,728,731)
U.S. Treasury Bond(T)   1 Day USOIS +18 bps(T)/ 5.510%   JPM   01/23/24   15,190   (1,856,334)     (1,856,334)
U.S. Treasury Bond(T)   1 Day USOIS +18 bps(T)/ 5.510%   JPM   01/29/24   12,265   (1,291,892)     (1,291,892)
U.S. Treasury Bond(T)   1 Day USOIS +19 bps(T)/ 5.520%   GSI   02/01/24   17,905   (1,772,887)     (1,772,887)
                    $(8,833,096)   $—   $(8,833,096)
(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 September 30, 2023, termination date 03/30/2024:
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PSF PGIM TOTAL RETURN BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2023 (unaudited)
Corporate Bond:
Reference Entity   Shares   Market
Value
  % of Total
Index Value
FedEx Corp.   3,111,900   $ 8,973,021   1.49%
Halliburton Co.   2,300,100   8,644,703   1.44%
Anheuser-Busch InBev Worldwide, Inc.   15,694,800   8,479,300   1.41%
Becton, Dickinson & Co.   1,758,900   8,460,730   1.41%
MetLife, Inc.   2,164,800   8,416,489   1.40%
Williams Cos., Inc.   2,029,500   8,391,006   1.40%
TransCanada PipeLines Ltd.   2,300,100   8,336,153   1.39%
Abbvie, Inc.   10,282,800   8,076,051   1.34%
General Motors Co.   4,870,800   7,892,924   1.31%
Northrop Grumman Corp.   2,164,800   7,828,668   1.30%
American International Group, Inc.   3,111,900   7,827,572   1.30%
Fiserv, Inc.   1,758,900   7,775,027   1.29%
McDonald’s Corp.   3,788,400   7,754,567   1.29%
Pacific Gas & Electric Co.   4,600,200   7,592,002   1.26%
Telefonica Emisiones, S.A.U.   5,412,000   7,588,654   1.26%
PepsiCo, Inc.   4,464,900   7,507,326   1.25%
Equinor ASA   1,758,900   7,470,167   1.24%
CVS Health Corp.   9,200,400   7,386,782   1.23%
3M Co.   1,217,700   7,291,467   1.21%
NVIDIA Corp.   1,623,600   7,289,197   1.21%
ConocoPhillips Co.   2,029,500   7,254,150   1.21%
Vodafone Group PLC   4,194,300   7,222,598   1.20%
Caterpillar, Inc.   2,164,800   7,176,835   1.19%
ExxonMobil Corp.   6,223,800   7,123,885   1.18%
Nike, Inc.   1,623,600   7,122,455   1.18%
Bank of America Corp.   40,319,400   7,079,978   1.18%
Morgan Stanley   27,871,800   7,032,170   1.17%
The Walt Disney Co.   6,494,400   7,029,879   1.17%
Paramount Global   2,300,100   6,956,200   1.16%
Carrier Global Corp.   1,894,200   6,933,286   1.15%
Qualcomm, Inc.   2,570,700   6,909,269   1.15%
Starbucks Corp.   2,029,500   6,894,129   1.15%
Oracle Corp.   15,559,500   6,862,182   1.14%
Dow Chemical Co.   2,164,800   6,844,538   1.14%
Simon Property Group LP   3,382,500   6,842,095   1.14%
Elevance Health, Inc.   3,788,400   6,839,007   1.14%
Wells Fargo & Co.   34,230,900   6,803,176   1.13%
Shell International Finance BV   6,900,300   6,797,349   1.13%
Amazon.com, Inc.   10,147,500   6,713,646   1.12%
Broadcom, Inc.   6,629,700   6,712,049   1.12%
Burlington Northern Santa Fe LLC   3,247,200   6,709,397   1.12%
UnitedHealth Group, Inc.   8,523,900   6,702,842   1.11%
The Coca-Cola Co.   4,194,300   6,689,886   1.11%
AstraZeneca PLC   3,111,900   6,638,975   1.10%
TotalEnergies Capital International S.A.   2,435,400   6,613,495   1.10%
Verizon Communications, Inc.   20,024,400   6,594,635   1.10%
Microsoft Corp.   10,553,400   6,574,155   1.09%
Duke Energy Corp.   2,435,400   6,565,107   1.09%
Cigna Corp.   5,547,300   6,563,934   1.09%
Enterprise Products Operating LLC   5,412,000   6,549,607   1.09%
        $364,332,715    
             
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