NPORT-EX 2 PI62360PRU033124.htm
PSF PGIM HIGH YIELD BOND PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Long-Term Investments — 97.5%
Asset-Backed Securities — 3.0%
Collateralized Loan Obligations
BlueMountain CLO Ltd. (Cayman Islands),
Series 2018-22A, Class A1, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%)
6.656%(c)   07/15/31     2,350   $2,351,284
Carlyle Global Market Strategies CLO Ltd. (Cayman Islands),
Series 2015-05A, Class A1RR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%)
6.659%(c)   01/20/32     4,982   4,981,650
CIFC Funding Ltd. (Cayman Islands),
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.302% (Cap N/A, Floor 0.000%)
6.619%(c)   04/20/31     2,377   2,379,915
KKR CLO Ltd. (Cayman Islands),
Series 11, Class AR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%)
6.756%(c)   01/15/31     1,625   1,625,495
KKR Static CLO Ltd. (Cayman Islands),
Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.220% (Cap N/A, Floor 2.220%)
7.538%(c)   10/20/31     1,531   1,532,178
Race Point CLO Ltd. (Cayman Islands),
Series 2013-08A, Class AR2, 144A, 3 Month SOFR + 1.302% (Cap N/A, Floor 1.040%)
6.621%(c)   02/20/30     2,886   2,885,700
 
Total Asset-Backed Securities

(cost $15,551,936)
  15,756,222
Corporate Bonds — 83.0%
Advertising — 0.2%
CMG Media Corp.,
Gtd. Notes, 144A
8.875%   12/15/27(a)     1,725   1,133,632
Aerospace & Defense — 2.5%
Boeing Co. (The),
Sr. Unsec’d. Notes
5.805%   05/01/50     2,100   1,986,168
5.930%   05/01/60     725   679,061
Bombardier, Inc. (Canada),
Sr. Unsec’d. Notes, 144A
6.000%   02/15/28(a)     975   959,156
7.125%   06/15/26(a)     893   905,279
7.250%   07/01/31     470   470,386
7.500%   02/01/29(a)     1,671   1,721,130
7.875%   04/15/27(a)     2,871   2,871,000
8.750%   11/15/30(a)     860   918,050
TransDigm, Inc.,
Gtd. Notes
4.625%   01/15/29     400   371,294
5.500%   11/15/27     775   758,680
Sr. Sec’d. Notes, 144A
6.375%   03/01/29     990   993,025
6.625%   03/01/32     750   757,713
              13,390,942
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Agriculture — 0.2%
Vector Group Ltd.,
Sr. Sec’d. Notes, 144A
5.750%   02/01/29     1,425   $1,320,129
Airlines — 0.9%
American Airlines, Inc.,
Sr. Sec’d. Notes, 144A
7.250%   02/15/28(a)     300   304,491
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
Sr. Sec’d. Notes, 144A
5.500%   04/20/26     94   93,068
5.750%   04/20/29     1,125   1,103,591
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.,
Sr. Sec’d. Notes, 144A
5.750%   01/20/26     245   229,688
United Airlines, Inc.,
Sr. Sec’d. Notes, 144A
4.375%   04/15/26     640   618,916
4.625%   04/15/29     440   409,330
VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Switzerland),
Sr. Unsec’d. Notes, 144A
6.375%   02/01/30     650   477,483
7.875%   05/01/27     1,265   1,070,127
9.500%   06/01/28     595   505,988
              4,812,682
Apparel — 0.3%
Kontoor Brands, Inc.,
Gtd. Notes, 144A
4.125%   11/15/29     500   449,793
Wolverine World Wide, Inc.,
Gtd. Notes, 144A
4.000%   08/15/29(a)     1,650   1,325,499
              1,775,292
Auto Manufacturers — 0.8%
Ford Motor Co.,
Sr. Unsec’d. Notes
4.750%   01/15/43     145   120,123
7.400%   11/01/46     550   598,933
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes
3.375%   11/13/25     800   769,861
Jaguar Land Rover Automotive PLC (United Kingdom),
Gtd. Notes, 144A
7.750%   10/15/25     750   755,662
JB Poindexter & Co., Inc.,
Sr. Unsec’d. Notes, 144A
8.750%   12/15/31     485   502,328
PM General Purchaser LLC,
Sr. Sec’d. Notes, 144A (original cost $1,523,000; purchased 09/21/20 - 03/14/24)(f)
9.500%   10/01/28     1,475   1,507,447
              4,254,354
A1
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Auto Parts & Equipment — 1.1%
Adient Global Holdings Ltd.,
Gtd. Notes, 144A
4.875%   08/15/26     1,225   $1,194,375
Sr. Sec’d. Notes, 144A
7.000%   04/15/28     350   356,562
American Axle & Manufacturing, Inc.,
Gtd. Notes
6.250%   03/15/26     622   616,293
6.500%   04/01/27(a)     625   622,641
Dana Financing Luxembourg Sarl,
Gtd. Notes, 144A
5.750%   04/15/25     237   235,519
Dana, Inc.,
Sr. Unsec’d. Notes
4.250%   09/01/30(a)     475   419,696
4.500%   02/15/32(a)     125   107,816
5.375%   11/15/27     175   171,351
5.625%   06/15/28(a)     50   48,788
Phinia, Inc.,
Sr. Sec’d. Notes, 144A
6.750%   04/15/29     200   201,947
Tenneco, Inc.,
Sr. Sec’d. Notes, 144A
8.000%   11/17/28     1,575   1,436,909
Titan International, Inc.,
Sr. Sec’d. Notes
7.000%   04/30/28     600   592,235
              6,004,132
Banks — 0.7%
Citigroup, Inc.,
Jr. Sub. Notes, Series X
3.875%(ff)   02/18/26(oo)     1,125   1,062,048
Freedom Mortgage Corp.,
Sr. Unsec’d. Notes, 144A
6.625%   01/15/27     625   605,858
7.625%   05/01/26     600   598,299
12.000%   10/01/28     100   108,977
12.250%   10/01/30     350   384,361
Intesa Sanpaolo SpA (Italy),
Sub. Notes, 144A
4.198%(ff)   06/01/32     975   813,747
              3,573,290
Building Materials — 1.7%
Camelot Return Merger Sub, Inc.,
Sr. Sec’d. Notes, 144A
8.750%   08/01/28(a)     550   564,423
Cornerstone Building Brands, Inc.,
Gtd. Notes, 144A
6.125%   01/15/29     875   780,740
Eco Material Technologies, Inc.,
Sr. Sec’d. Notes, 144A
7.875%   01/31/27     830   842,998
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Building Materials (cont’d.)
Griffon Corp.,
Gtd. Notes
5.750%   03/01/28     425   $416,399
JELD-WEN, Inc.,
Gtd. Notes, 144A
4.625%   12/15/25     300   293,369
Knife River Corp.,
Sr. Unsec’d. Notes, 144A
7.750%   05/01/31     250   262,051
Masonite International Corp.,
Gtd. Notes, 144A
3.500%   02/15/30     275   242,000
5.375%   02/01/28     200   199,730
Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC,
Sr. Sec’d. Notes, 144A
6.750%   04/01/32     425   426,788
MIWD Holdco II LLC/MIWD Finance Corp.,
Gtd. Notes, 144A
5.500%   02/01/30(a)     710   653,685
Smyrna Ready Mix Concrete LLC,
Sr. Sec’d. Notes, 144A
6.000%   11/01/28     1,198   1,171,112
8.875%   11/15/31     505   539,594
Standard Industries, Inc.,
Sr. Unsec’d. Notes, 144A
3.375%   01/15/31(a)     400   335,399
4.375%   07/15/30     975   875,602
4.750%   01/15/28     525   500,954
5.000%   02/15/27     690   669,405
Summit Materials LLC/Summit Materials Finance Corp.,
Gtd. Notes, 144A
7.250%   01/15/31     165   171,437
              8,945,686
Chemicals — 1.6%
Ashland, Inc.,
Sr. Unsec’d. Notes
6.875%   05/15/43     1,705   1,757,771
ASP Unifrax Holdings, Inc.,
Sr. Sec’d. Notes, 144A
5.250%   09/30/28     250   161,347
Sr. Unsec’d. Notes, 144A
7.500%   09/30/29     225   124,427
Chemours Co. (The),
Gtd. Notes
5.375%   05/15/27     280   268,433
Gtd. Notes, 144A
4.625%   11/15/29(a)     445   384,049
Consolidated Energy Finance SA (Switzerland),
Gtd. Notes, 144A
12.000%   02/15/31     280   292,600
Cornerstone Chemical Co.,
Sr. Sec’d. Notes, 144A
15.000%   12/06/28^     471   470,537
 
A2
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Chemicals (cont’d.)
NOVA Chemicals Corp. (Canada),
Sr. Unsec’d. Notes, 144A
4.875%   06/01/24     265   $263,012
5.250%   06/01/27     406   382,026
Olympus Water US Holding Corp.,
Sr. Sec’d. Notes, 144A
4.250%   10/01/28     500   452,960
9.750%   11/15/28(a)     825   879,571
Rain Carbon, Inc.,
Sr. Sec’d. Notes, 144A
12.250%   09/01/29(a)     400   415,524
Rain CII Carbon LLC/CII Carbon Corp.,
Sec’d. Notes, 144A
7.250%   04/01/25     30   29,438
SK Invictus Intermediate II Sarl,
Sr. Sec’d. Notes, 144A
5.000%   10/30/29(a)     965   858,377
SNF Group SACA (France),
Sr. Unsec’d. Notes, 144A
3.375%   03/15/30     425   367,625
TPC Group, Inc.,
Sr. Sec’d. Notes, 144A
13.000%   12/16/27     678   692,548
Tronox, Inc.,
Gtd. Notes, 144A
4.625%   03/15/29(a)     420   376,411
WR Grace Holdings LLC,
Sr. Sec’d. Notes, 144A
7.375%   03/01/31(a)     150   152,198
              8,328,854
Coal — 0.2%
Conuma Resources Ltd. (Canada),
Sr. Sec’d. Notes, 144A
13.125%   05/01/28     588   590,081
Coronado Finance Pty Ltd. (Australia),
Sr. Sec’d. Notes, 144A
10.750%   05/15/26     323   335,426
              925,507
Commercial Services — 4.6%
Adtalem Global Education, Inc.,
Sr. Sec’d. Notes, 144A
5.500%   03/01/28     715   684,847
Allied Universal Holdco LLC/Allied Universal Finance Corp.,
Sr. Sec’d. Notes, 144A
6.625%   07/15/26     641   640,611
Sr. Unsec’d. Notes, 144A
6.000%   06/01/29(a)     1,625   1,398,274
9.750%   07/15/27(a)     2,200   2,205,743
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl,
Sr. Sec’d. Notes, 144A
4.625%   06/01/28     1,060   964,992
4.625%   06/01/28     1,065   963,825
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Commercial Services (cont’d.)
Alta Equipment Group, Inc.,
Sec’d. Notes, 144A
5.625%   04/15/26     375   $367,341
AMN Healthcare, Inc.,
Gtd. Notes, 144A
4.000%   04/15/29(a)     900   810,347
4.625%   10/01/27(a)     575   546,782
APi Group DE, Inc.,
Gtd. Notes, 144A
4.750%   10/15/29     250   230,061
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.,
Gtd. Notes, 144A
4.750%   04/01/28(a)     550   508,873
5.750%   07/15/27     220   212,953
5.750%   07/15/27(a)     575   554,049
Boost Newco Borrower LLC,
Sr. Sec’d. Notes, 144A
7.500%   01/15/31     400   418,855
Gartner, Inc.,
Gtd. Notes, 144A
3.625%   06/15/29     325   294,411
3.750%   10/01/30     225   201,627
Hertz Corp. (The),
Gtd. Notes, 144A
4.625%   12/01/26(a)     300   272,639
5.000%   12/01/29(a)     425   328,635
Mavis Tire Express Services Topco Corp.,
Sr. Unsec’d. Notes, 144A
6.500%   05/15/29     2,575   2,451,864
MPH Acquisition Holdings LLC,
Sr. Sec’d. Notes, 144A
5.500%   09/01/28(a)     1,675   1,424,211
NESCO Holdings II, Inc.,
Sec’d. Notes, 144A
5.500%   04/15/29(a)     975   923,074
Service Corp. International,
Sr. Unsec’d. Notes
3.375%   08/15/30     625   541,896
United Rentals North America, Inc.,
Gtd. Notes
3.750%   01/15/32     450   392,186
4.000%   07/15/30     100   90,912
4.875%   01/15/28(a)     3,500   3,403,811
Valvoline, Inc.,
Sr. Unsec’d. Notes, 144A
3.625%   06/15/31     250   215,708
Verscend Escrow Corp.,
Sr. Unsec’d. Notes, 144A
9.750%   08/15/26     2,860   2,869,852
VT Topco, Inc.,
Sr. Sec’d. Notes, 144A
8.500%   08/15/30     325   342,947
              24,261,326
 
A3
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Computers — 0.9%
CA Magnum Holdings (India),
Sr. Sec’d. Notes, 144A
5.375%   10/31/26     200   $192,000
McAfee Corp.,
Sr. Unsec’d. Notes, 144A
7.375%   02/15/30     1,760   1,623,836
NCR Atleos Corp.,
Sr. Sec’d. Notes, 144A
9.500%   04/01/29     1,155   1,235,204
NCR Voyix Corp.,
Gtd. Notes, 144A
5.000%   10/01/28     125   116,594
5.125%   04/15/29(a)     935   866,835
5.250%   10/01/30(a)     680   616,375
Tempo Acquisition LLC/Tempo Acquisition Finance Corp.,
Sr. Sec’d. Notes, 144A
5.750%   06/01/25     300   299,276
              4,950,120
Distribution/Wholesale — 0.6%
H&E Equipment Services, Inc.,
Gtd. Notes, 144A
3.875%   12/15/28     2,100   1,922,553
Ritchie Bros Holdings, Inc. (Canada),
Gtd. Notes, 144A
7.750%   03/15/31     400   417,318
Sr. Sec’d. Notes, 144A
6.750%   03/15/28     125   127,187
Windsor Holdings III LLC,
Sr. Sec’d. Notes, 144A
8.500%   06/15/30     700   735,088
              3,202,146
Diversified Financial Services — 3.7%
Bread Financial Holdings, Inc.,
Gtd. Notes, 144A
9.750%   03/15/29(a)     1,200   1,247,868
Encore Capital Group, Inc.,
Sr. Sec’d. Notes, 144A
9.250%   04/01/29     215   220,411
Freedom Mortgage Holdings LLC,
Sr. Unsec’d. Notes, 144A
9.250%   02/01/29     125   127,899
GGAM Finance Ltd. (Ireland),
Gtd. Notes, 144A
8.000%   02/15/27     400   412,000
Sr. Unsec’d. Notes, 144A
6.875%   04/15/29     150   150,563
8.000%   06/15/28     250   260,313
goeasy Ltd. (Canada),
Gtd. Notes, 144A
4.375%   05/01/26     400   383,000
9.250%   12/01/28     230   243,225
Sr. Unsec’d. Notes, 144A
7.625%   07/01/29     25   25,000
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Diversified Financial Services (cont’d.)
Jefferies Finance LLC/JFIN Co-Issuer Corp.,
Sr. Unsec’d. Notes, 144A
5.000%   08/15/28     1,250   $1,149,886
LD Holdings Group LLC,
Gtd. Notes, 144A
6.125%   04/01/28(a)     775   642,675
LFS Topco LLC,
Gtd. Notes, 144A
5.875%   10/15/26     850   789,141
Macquarie Airfinance Holdings Ltd. (United Kingdom),
Sr. Unsec’d. Notes, 144A
6.400%   03/26/29     175   177,742
6.500%   03/26/31     330   335,851
8.125%   03/30/29     825   871,406
8.375%   05/01/28     75   79,500
Nationstar Mortgage Holdings, Inc.,
Gtd. Notes, 144A
5.125%   12/15/30     1,725   1,565,517
5.500%   08/15/28     175   167,328
5.750%   11/15/31     1,320   1,218,274
6.000%   01/15/27(a)     510   503,653
Navient Corp.,
Sr. Unsec’d. Notes
5.500%   03/15/29(a)     700   650,638
6.750%   06/25/25     375   377,533
9.375%   07/25/30     775   828,812
OneMain Finance Corp.,
Gtd. Notes
4.000%   09/15/30(a)     425   363,838
6.625%   01/15/28(a)     450   451,155
7.125%   03/15/26     2,250   2,290,216
7.875%   03/15/30(a)     495   511,634
PennyMac Financial Services, Inc.,
Gtd. Notes, 144A
4.250%   02/15/29     425   387,422
5.375%   10/15/25(a)     1,200   1,186,144
5.750%   09/15/31     350   325,006
7.875%   12/15/29     250   256,937
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.,
Gtd. Notes, 144A
3.875%   03/01/31(a)     675   588,365
4.000%   10/15/33(a)     750   635,995
              19,424,947
Electric — 4.2%
Calpine Corp.,
Sr. Unsec’d. Notes, 144A
4.625%   02/01/29     2,732   2,530,350
5.000%   02/01/31     1,750   1,609,759
5.125%   03/15/28(a)     4,900   4,700,046
Keystone Power Pass-Through Holders LLC/Conemaugh Power Pass-Through Holders,
Sub. Notes, 144A, Cash coupon 13.000%
13.000%   06/01/24     522   287,214
 
A4
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
NRG Energy, Inc.,
Gtd. Notes
5.750%   01/15/28     750   $745,891
6.625%   01/15/27     442   442,610
Gtd. Notes, 144A
3.375%   02/15/29(a)     300   266,830
3.625%   02/15/31     950   820,170
3.875%   02/15/32(a)     1,275   1,093,970
5.250%   06/15/29     625   599,435
Jr. Sub. Notes, 144A
10.250%(ff)   03/15/28(oo)     925   989,118
PG&E Corp.,
Sr. Sec’d. Notes
5.250%   07/01/30     555   528,999
Vistra Corp.,
Jr. Sub. Notes, 144A
7.000%(ff)   12/15/26(oo)     1,675   1,659,088
8.000%(ff)   10/15/26(oo)     975   993,648
Vistra Operations Co. LLC,
Gtd. Notes, 144A
4.375%   05/01/29(a)     1,200   1,112,090
5.000%   07/31/27     1,565   1,516,440
5.500%   09/01/26     1,050   1,034,087
5.625%   02/15/27(a)     1,708   1,681,687
              22,611,432
Electrical Components & Equipment — 0.7%
Energizer Holdings, Inc.,
Gtd. Notes, 144A
4.375%   03/31/29(a)     1,275   1,142,279
4.750%   06/15/28(a)     225   208,667
EnerSys,
Gtd. Notes, 144A
6.625%   01/15/32     140   141,173
WESCO Distribution, Inc.,
Gtd. Notes, 144A
6.375%   03/15/29     390   394,098
6.625%   03/15/32     295   299,891
7.125%   06/15/25(a)     450   450,579
7.250%   06/15/28(a)     835   852,554
              3,489,241
Electronics — 0.2%
Likewize Corp.,
Sr. Sec’d. Notes, 144A
9.750%   10/15/25     1,060   1,077,039
Engineering & Construction — 0.1%
Brand Industrial Services, Inc.,
Sr. Sec’d. Notes, 144A
10.375%   08/01/30     300   324,614
TopBuild Corp.,
Gtd. Notes, 144A
3.625%   03/15/29     500   454,669
              779,283
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Entertainment — 2.9%
Caesars Entertainment, Inc.,
Gtd. Notes, 144A
4.625%   10/15/29(a)     1,800   $1,644,837
Sr. Sec’d. Notes, 144A
6.500%   02/15/32(a)     1,045   1,055,247
7.000%   02/15/30     1,625   1,668,203
CCM Merger, Inc.,
Sr. Unsec’d. Notes, 144A
6.375%   05/01/26     450   449,408
Churchill Downs, Inc.,
Sr. Unsec’d. Notes, 144A
5.750%   04/01/30     500   482,375
Everi Holdings, Inc.,
Gtd. Notes, 144A
5.000%   07/15/29(a)     100   98,967
Golden Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
7.625%   04/15/26     1,550   1,551,541
International Game Technology PLC,
Sr. Sec’d. Notes, 144A
4.125%   04/15/26     750   725,625
6.250%   01/15/27     450   451,688
Jacobs Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
6.750%   02/15/29     750   727,035
6.750%   02/15/29     550   529,348
Light & Wonder International, Inc.,
Gtd. Notes, 144A
7.500%   09/01/31(a)     100   104,052
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A
4.875%   05/01/29     850   786,833
Penn Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
4.125%   07/01/29(a)     900   778,370
5.625%   01/15/27(a)     1,775   1,717,638
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.,
Gtd. Notes, 144A
5.875%   09/01/31(a)     925   677,885
Scientific Games Holdings LP/Scientific Games US FinCo, Inc.,
Sr. Unsec’d. Notes, 144A
6.625%   03/01/30(a)     800   773,621
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,
Gtd. Notes, 144A
5.125%   10/01/29(a)     1,020   966,839
7.125%   02/15/31     415   429,603
              15,619,115
Environmental Control — 0.5%
Covanta Holding Corp.,
Gtd. Notes
5.000%   09/01/30     375   330,299
Gtd. Notes, 144A
4.875%   12/01/29     765   686,528
 
A5
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Environmental Control (cont’d.)
GFL Environmental, Inc.,
Gtd. Notes, 144A
4.000%   08/01/28     175   $160,811
4.375%   08/15/29(a)     1,000   918,437
4.750%   06/15/29     225   210,938
Sr. Sec’d. Notes, 144A
6.750%   01/15/31     480   492,000
              2,799,013
Foods — 1.6%
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC,
Gtd. Notes, 144A
3.500%   03/15/29     725   650,493
B&G Foods, Inc.,
Gtd. Notes
5.250%   04/01/25     601   597,987
5.250%   09/15/27(a)     2,210   2,066,515
Sr. Sec’d. Notes, 144A
8.000%   09/15/28(a)     500   521,280
C&S Group Enterprises LLC,
Gtd. Notes, 144A
5.000%   12/15/28     200   160,139
Chobani LLC/Chobani Finance Corp., Inc.,
Sr. Sec’d. Notes, 144A
4.625%   11/15/28     25   23,314
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.,
Gtd. Notes
5.500%   01/15/30     950   934,143
Pilgrim’s Pride Corp.,
Gtd. Notes
3.500%   03/01/32     300   254,433
4.250%   04/15/31     650   586,323
Post Holdings, Inc.,
Gtd. Notes, 144A
4.625%   04/15/30(a)     1,435   1,317,172
5.500%   12/15/29     400   386,419
Sr. Sec’d. Notes, 144A
6.250%   02/15/32     315   317,196
Sr. Unsec’d. Notes, 144A
4.500%   09/15/31(a)     675   607,238
              8,422,652
Gas — 0.3%
AmeriGas Partners LP/AmeriGas Finance Corp.,
Sr. Unsec’d. Notes
5.500%   05/20/25     675   675,512
5.750%   05/20/27     330   322,840
5.875%   08/20/26     493   492,096
              1,490,448
Healthcare-Products — 1.0%
Embecta Corp.,
Sr. Sec’d. Notes, 144A
5.000%   02/15/30     525   428,364
6.750%   02/15/30     150   130,490
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Healthcare-Products (cont’d.)
Medline Borrower LP,
Sr. Sec’d. Notes, 144A
3.875%   04/01/29(a)     4,650   $4,232,639
Medline Borrower LP/Medline Co-Issuer, Inc.,
Sr. Sec’d. Notes, 144A
6.250%   04/01/29     440   441,984
              5,233,477
Healthcare-Services — 4.0%
DaVita, Inc.,
Gtd. Notes, 144A
3.750%   02/15/31     2,875   2,405,421
4.625%   06/01/30     3,000   2,685,299
HCA, Inc.,
Gtd. Notes
7.050%   12/01/27     1,750   1,836,005
7.500%   11/06/33     650   728,326
Gtd. Notes, MTN
7.750%   07/15/36     400   457,163
Legacy LifePoint Health LLC,
Sr. Sec’d. Notes, 144A
4.375%   02/15/27(a)     500   476,179
LifePoint Health, Inc.,
Gtd. Notes, 144A
5.375%   01/15/29(a)     2,575   2,116,153
Prime Healthcare Services, Inc.,
Sr. Sec’d. Notes, 144A
7.250%   11/01/25     1,600   1,596,166
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc.,
Gtd. Notes, 144A
9.750%   12/01/26(a)     1,700   1,703,167
Tenet Healthcare Corp.,
Sr. Sec’d. Notes
4.250%   06/01/29     2,050   1,904,647
4.375%   01/15/30     2,900   2,681,590
Sr. Unsec’d. Notes
6.875%   11/15/31(a)     2,350   2,454,635
              21,044,751
Home Builders — 4.1%
Ashton Woods USA LLC/Ashton Woods Finance Co.,
Sr. Unsec’d. Notes, 144A
4.625%   08/01/29(a)     900   830,308
4.625%   04/01/30     800   729,845
Beazer Homes USA, Inc.,
Gtd. Notes
5.875%   10/15/27     1,300   1,283,564
7.250%   10/15/29(a)     1,775   1,796,383
Sr. Unsec’d. Notes, 144A
7.500%   03/15/31     465   469,715
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada),
Gtd. Notes, 144A
4.875%   02/15/30     1,625   1,450,313
6.250%   09/15/27(a)     625   609,375
 
A6
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Home Builders (cont’d.)
Sr. Unsec’d. Notes, 144A
5.000%   06/15/29     900   $812,250
Century Communities, Inc.,
Gtd. Notes, 144A
3.875%   08/15/29     275   247,624
Empire Communities Corp. (Canada),
Sr. Unsec’d. Notes, 144A
7.000%   12/15/25     275   275,000
Forestar Group, Inc.,
Gtd. Notes, 144A
3.850%   05/15/26     350   334,277
5.000%   03/01/28     1,300   1,251,075
KB Home,
Gtd. Notes
4.000%   06/15/31(a)     425   376,796
4.800%   11/15/29     1,500   1,430,629
Landsea Homes Corp.,
Sr. Unsec’d. Notes, 144A
8.875%   04/01/29     810   805,669
M/I Homes, Inc.,
Gtd. Notes
3.950%   02/15/30     325   292,341
4.950%   02/01/28     450   428,823
Mattamy Group Corp. (Canada),
Sr. Unsec’d. Notes, 144A
4.625%   03/01/30     1,625   1,466,563
5.250%   12/15/27     1,000   967,500
New Home Co., Inc. (The),
Sr. Unsec’d. Notes, 144A
9.250%   10/01/29     365   366,489
Shea Homes LP/Shea Homes Funding Corp.,
Sr. Unsec’d. Notes
4.750%   02/15/28     1,075   1,022,200
4.750%   04/01/29     700   657,362
STL Holding Co. LLC,
Sr. Unsec’d. Notes, 144A
8.750%   02/15/29     480   492,379
Taylor Morrison Communities, Inc.,
Gtd. Notes, 144A
5.875%   06/15/27(a)     1,000   999,863
Sr. Unsec’d. Notes, 144A
5.125%   08/01/30(a)     1,367   1,306,547
Tri Pointe Homes, Inc.,
Gtd. Notes
5.700%   06/15/28(a)     1,090   1,072,133
              21,775,023
Home Furnishings — 0.0%
Tempur Sealy International, Inc.,
Gtd. Notes, 144A
4.000%   04/15/29     175   158,978
Household Products/Wares — 0.4%
ACCO Brands Corp.,
Gtd. Notes, 144A
4.250%   03/15/29(a)     1,250   1,125,016
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Household Products/Wares (cont’d.)
Central Garden & Pet Co.,
Gtd. Notes, 144A
4.125%   04/30/31     50   $44,132
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (Canada),
Gtd. Notes, 144A
7.000%   12/31/27(a)     825   818,812
Sr. Sec’d. Notes, 144A
5.000%   12/31/26     150   146,625
              2,134,585
Housewares — 0.7%
Scotts Miracle-Gro Co. (The),
Gtd. Notes
4.000%   04/01/31(a)     1,950   1,679,872
4.375%   02/01/32(a)     975   840,954
SWF Escrow Issuer Corp.,
Sr. Unsec’d. Notes, 144A
6.500%   10/01/29(a)     1,900   1,403,833
              3,924,659
Insurance — 0.4%
Acrisure LLC/Acrisure Finance, Inc.,
Sr. Unsec’d. Notes, 144A
8.250%   02/01/29     1,235   1,241,516
AssuredPartners, Inc.,
Sr. Unsec’d. Notes, 144A
5.625%   01/15/29     325   299,355
7.500%   02/15/32     85   83,521
BroadStreet Partners, Inc.,
Sr. Unsec’d. Notes, 144A
5.875%   04/15/29     800   740,539
              2,364,931
Internet — 0.6%
Cablevision Lightpath LLC,
Sr. Sec’d. Notes, 144A
3.875%   09/15/27     875   785,289
Sr. Unsec’d. Notes, 144A
5.625%   09/15/28     820   685,860
Gen Digital, Inc.,
Sr. Unsec’d. Notes, 144A
5.000%   04/15/25     1,150   1,143,506
Go Daddy Operating Co. LLC/GD Finance Co., Inc.,
Gtd. Notes, 144A
3.500%   03/01/29     400   360,811
              2,975,466
Iron/Steel — 0.5%
ATI, Inc.,
Sr. Unsec’d. Notes
7.250%   08/15/30     370   383,323
Big River Steel LLC/BRS Finance Corp.,
Sr. Sec’d. Notes, 144A
6.625%   01/31/29     863   869,175
 
A7
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Iron/Steel (cont’d.)
Cleveland-Cliffs, Inc.,
Gtd. Notes, 144A
6.750%   04/15/30(a)     750   $753,045
Commercial Metals Co.,
Sr. Unsec’d. Notes
4.125%   01/15/30     100   91,932
4.375%   03/15/32     225   202,290
Mineral Resources Ltd. (Australia),
Sr. Unsec’d. Notes, 144A
9.250%   10/01/28     525   552,961
              2,852,726
Leisure Time — 3.8%
Amer Sports Co. (Finland),
Sr. Sec’d. Notes, 144A
6.750%   02/16/31(a)     540   535,850
Carnival Corp.,
Gtd. Notes, 144A
5.750%   03/01/27     3,050   3,020,110
6.000%   05/01/29(a)     1,875   1,842,281
Sr. Sec’d. Notes, 144A
4.000%   08/01/28     375   347,453
Lindblad Expeditions Holdings, Inc.,
Sr. Sec’d. Notes, 144A
9.000%   05/15/28     950   1,003,828
NCL Corp. Ltd.,
Gtd. Notes, 144A
5.875%   03/15/26     1,375   1,357,524
Sr. Sec’d. Notes, 144A
5.875%   02/15/27     125   123,438
8.125%   01/15/29     225   237,548
8.375%   02/01/28     925   974,709
Sr. Unsec’d. Notes, 144A
7.750%   02/15/29(a)     1,300   1,352,000
NCL Finance Ltd.,
Gtd. Notes, 144A
6.125%   03/15/28(a)     1,450   1,431,875
Royal Caribbean Cruises Ltd.,
Gtd. Notes, 144A
7.250%   01/15/30     725   752,427
9.250%   01/15/29     525   560,648
Sr. Sec’d. Notes, 144A
8.250%   01/15/29     400   423,080
Sr. Unsec’d. Notes
3.700%   03/15/28(a)     400   372,276
Sr. Unsec’d. Notes, 144A
5.375%   07/15/27     150   147,870
5.500%   08/31/26     275   271,398
5.500%   04/01/28     950   938,001
Viking Cruises Ltd.,
Gtd. Notes, 144A
5.875%   09/15/27     1,350   1,319,625
Sr. Unsec’d. Notes, 144A
9.125%   07/15/31     925   1,009,526
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Leisure Time (cont’d.)
Viking Ocean Cruises Ship VII Ltd.,
Sr. Sec’d. Notes, 144A
5.625%   02/15/29(a)     850   $826,625
Vista Outdoor, Inc.,
Gtd. Notes, 144A
4.500%   03/15/29(a)     250   250,433
VOC Escrow Ltd.,
Sr. Sec’d. Notes, 144A
5.000%   02/15/28     1,000   961,250
              20,059,775
Lodging — 1.8%
Boyd Gaming Corp.,
Gtd. Notes, 144A
4.750%   06/15/31     300   275,923
Hilton Domestic Operating Co., Inc.,
Gtd. Notes, 144A
3.625%   02/15/32(a)     925   797,026
4.000%   05/01/31     150   134,292
5.875%   04/01/29     480   480,724
MGM Resorts International,
Gtd. Notes
4.625%   09/01/26     425   415,473
4.750%   10/15/28(a)     2,000   1,901,705
5.500%   04/15/27(a)     600   595,036
5.750%   06/15/25     25   24,972
6.500%   04/15/32     580   578,532
6.750%   05/01/25     280   279,911
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A
5.875%   05/15/25     650   647,020
Wynn Macau Ltd. (Macau),
Sr. Unsec’d. Notes, 144A
5.125%   12/15/29(a)     675   614,672
5.500%   01/15/26     450   436,919
5.625%   08/26/28(a)     2,700   2,556,563
              9,738,768
Machinery-Construction & Mining — 0.1%
Terex Corp.,
Gtd. Notes, 144A
5.000%   05/15/29(a)     600   566,617
Machinery-Diversified — 0.5%
Chart Industries, Inc.,
Gtd. Notes, 144A
9.500%   01/01/31(a)     420   457,334
Sr. Sec’d. Notes, 144A
7.500%   01/01/30     725   753,009
GrafTech Finance, Inc.,
Sr. Sec’d. Notes, 144A
4.625%   12/15/28(a)     725   466,359
Maxim Crane Works Holdings Capital LLC,
Sec’d. Notes, 144A
11.500%   09/01/28     875   948,701
 
A8
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Machinery-Diversified (cont’d.)
TK Elevator US Newco, Inc. (Germany),
Sr. Sec’d. Notes, 144A
5.250%   07/15/27     224   $216,160
              2,841,563
Media — 6.0%
Altice Financing SA (Luxembourg),
Sr. Sec’d. Notes, 144A
5.000%   01/15/28(a)     275   225,500
5.750%   08/15/29     1,075   857,312
CCO Holdings LLC/CCO Holdings Capital Corp.,
Sr. Unsec’d. Notes
4.500%   05/01/32(a)     2,340   1,879,702
Sr. Unsec’d. Notes, 144A
4.250%   02/01/31     2,900   2,360,422
4.500%   06/01/33     290   226,323
4.750%   03/01/30(a)     2,375   2,037,241
5.000%   02/01/28(a)     1,480   1,378,168
5.125%   05/01/27     825   785,842
5.375%   06/01/29(a)     25   22,885
CSC Holdings LLC,
Gtd. Notes, 144A
3.375%   02/15/31     1,190   807,462
4.125%   12/01/30     575   408,847
5.375%   02/01/28(a)     890   765,517
5.500%   04/15/27(a)     225   201,294
6.500%   02/01/29     400   340,000
Sr. Unsec’d. Notes, 144A
4.625%   12/01/30     2,875   1,460,558
5.000%   11/15/31     310   157,032
5.750%   01/15/30     2,725   1,441,678
7.500%   04/01/28     200   134,518
Diamond Sports Group LLC/Diamond Sports Finance Co.,
Gtd. Notes, 144A (original cost $5,052,669; purchased 07/18/19 - 06/03/22)(f)
6.625%   08/15/27(d)     6,605   187,974
Sec’d. Notes, 144A (original cost $2,812,977; purchased 07/18/19 - 08/30/22)(f)
5.375%   08/15/26(d)     6,440   181,969
DISH DBS Corp.,
Gtd. Notes
5.125%   06/01/29     1,965   823,388
7.375%   07/01/28     950   452,685
7.750%   07/01/26     4,150   2,773,813
DISH Network Corp.,
Sr. Sec’d. Notes, 144A
11.750%   11/15/27     1,850   1,889,754
Gray Television, Inc.,
Gtd. Notes, 144A
5.875%   07/15/26     1,920   1,870,327
Midcontinent Communications/Midcontinent Finance Corp.,
Gtd. Notes, 144A
5.375%   08/15/27     450   427,799
News Corp.,
Sr. Unsec’d. Notes, 144A
3.875%   05/15/29(a)     250   229,070
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Media (cont’d.)
Nexstar Media, Inc.,
Gtd. Notes, 144A
5.625%   07/15/27     255   $244,829
Radiate Holdco LLC/Radiate Finance, Inc.,
Sr. Sec’d. Notes, 144A
4.500%   09/15/26     505   401,667
Sr. Unsec’d. Notes, 144A
6.500%   09/15/28     3,515   1,667,329
Sinclair Television Group, Inc.,
Gtd. Notes, 144A
5.125%   02/15/27     1,095   1,003,285
Univision Communications, Inc.,
Sr. Sec’d. Notes, 144A
4.500%   05/01/29(a)     520   464,370
6.625%   06/01/27     1,275   1,248,015
8.000%   08/15/28     1,080   1,100,624
VZ Secured Financing BV (Netherlands),
Sr. Sec’d. Notes, 144A
5.000%   01/15/32     1,475   1,266,656
              31,723,855
Metal Fabricate/Hardware — 0.1%
Roller Bearing Co. of America, Inc.,
Sr. Unsec’d. Notes, 144A
4.375%   10/15/29(a)     475   435,198
Mining — 1.6%
Alcoa Nederland Holding BV,
Gtd. Notes, 144A
7.125%   03/15/31     215   218,629
Arsenal AIC Parent LLC,
Sr. Sec’d. Notes, 144A
8.000%   10/01/30     250   262,429
Unsec’d. Notes, 144A
11.500%   10/01/31     485   540,038
Constellium SE,
Gtd. Notes, 144A
5.875%   02/15/26     400   397,000
Eldorado Gold Corp. (Turkey),
Sr. Unsec’d. Notes, 144A
6.250%   09/01/29(a)     1,075   1,023,938
First Quantum Minerals Ltd. (Zambia),
Gtd. Notes, 144A
6.875%   10/15/27     850   809,200
8.625%   06/01/31(a)     625   606,253
Sec’d. Notes, 144A
9.375%   03/01/29     280   290,466
Hecla Mining Co.,
Gtd. Notes
7.250%   02/15/28     700   703,042
Hudbay Minerals, Inc. (Canada),
Gtd. Notes, 144A
4.500%   04/01/26     525   507,938
6.125%   04/01/29(a)     1,270   1,255,712
New Gold, Inc. (Canada),
Gtd. Notes, 144A
7.500%   07/15/27     1,375   1,378,149
 
A9
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Mining (cont’d.)
Novelis Corp.,
Gtd. Notes, 144A
3.875%   08/15/31(a)     625   $537,091
4.750%   01/30/30(a)     50   46,118
              8,576,003
Miscellaneous Manufacturing — 0.3%
Amsted Industries, Inc.,
Gtd. Notes, 144A
5.625%   07/01/27     425   418,868
Sr. Unsec’d. Notes, 144A
4.625%   05/15/30     570   520,214
Trinity Industries, Inc.,
Gtd. Notes, 144A
7.750%   07/15/28     475   487,724
              1,426,806
Oil & Gas — 6.9%
Aethon United BR LP/Aethon United Finance Corp.,
Sr. Unsec’d. Notes, 144A
8.250%   02/15/26     500   506,040
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp.,
Gtd. Notes
7.875%   12/15/24(d)     5,200   520
Antero Resources Corp.,
Gtd. Notes, 144A
5.375%   03/01/30(a)     1,500   1,440,981
7.625%   02/01/29     128   131,565
Ascent Resources Utica Holdings LLC/ARU Finance Corp.,
Gtd. Notes, 144A
7.000%   11/01/26     1,150   1,152,852
9.000%   11/01/27     676   852,367
Sr. Unsec’d. Notes, 144A
8.250%   12/31/28(a)     957   982,944
Athabasca Oil Corp. (Canada),
Sec’d. Notes, 144A
9.750%   11/01/26     1,468   1,550,575
Chesapeake Energy Corp.,
Gtd. Notes, 144A
5.500%   02/01/26     300   297,990
5.875%   02/01/29(a)     1,050   1,040,704
6.750%   04/15/29     275   278,232
CITGO Petroleum Corp.,
Sr. Sec’d. Notes, 144A
7.000%   06/15/25     1,525   1,523,420
Civitas Resources, Inc.,
Gtd. Notes, 144A
8.375%   07/01/28     775   815,252
8.625%   11/01/30(a)     500   536,768
CNX Resources Corp.,
Gtd. Notes, 144A
7.250%   03/01/32(a)     355   361,198
Comstock Resources, Inc.,
Gtd. Notes, 144A
5.875%   01/15/30(a)     450   407,545
6.750%   03/01/29(a)     825   786,734
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
Crescent Energy Finance LLC,
Gtd. Notes, 144A
9.250%   02/15/28(a)     815   $860,872
Sr. Unsec’d. Notes, 144A
7.625%   04/01/32     480   483,984
CrownRock LP/CrownRock Finance, Inc.,
Sr. Unsec’d. Notes, 144A
5.000%   05/01/29     131   129,461
5.625%   10/15/25     300   299,120
Diamond Foreign Asset Co./Diamond Finance LLC,
Sec’d. Notes, 144A
8.500%   10/01/30     275   288,975
Endeavor Energy Resources LP/EER Finance, Inc.,
Sr. Unsec’d. Notes, 144A
5.750%   01/30/28     1,150   1,158,845
Hilcorp Energy I LP/Hilcorp Finance Co.,
Sr. Unsec’d. Notes, 144A
5.750%   02/01/29     275   268,217
6.000%   04/15/30(a)     1,315   1,286,608
6.000%   02/01/31     900   877,110
6.250%   11/01/28     1,475   1,473,787
6.250%   04/15/32     435   429,251
8.375%   11/01/33     300   324,706
Matador Resources Co.,
Sr. Unsec’d. Notes, 144A
6.500%   04/15/32     585   586,021
MEG Energy Corp. (Canada),
Gtd. Notes, 144A
5.875%   02/01/29     300   294,000
Nabors Industries Ltd.,
Gtd. Notes, 144A
7.250%   01/15/26     590   585,575
7.500%   01/15/28(a)     1,225   1,145,375
Nabors Industries, Inc.,
Gtd. Notes, 144A
7.375%   05/15/27     250   249,544
9.125%   01/31/30(a)     1,375   1,429,964
Noble Finance II LLC,
Gtd. Notes, 144A
8.000%   04/15/30     225   234,386
Occidental Petroleum Corp.,
Sr. Unsec’d. Notes
7.875%   09/15/31     100   113,391
Parkland Corp. (Canada),
Gtd. Notes, 144A
4.500%   10/01/29(a)     650   601,250
4.625%   05/01/30(a)     1,275   1,175,167
Permian Resources Operating LLC,
Gtd. Notes, 144A
7.000%   01/15/32     770   798,238
8.000%   04/15/27     275   283,362
Precision Drilling Corp. (Canada),
Gtd. Notes, 144A
6.875%   01/15/29     900   894,375
7.125%   01/15/26     182   181,773
 
A10
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
Range Resources Corp.,
Gtd. Notes
4.875%   05/15/25     475   $471,454
Gtd. Notes, 144A
4.750%   02/15/30(a)     219   204,231
SilverBow Resources, Inc.,
Sec’d. Notes, 144A, 3 Month SOFR + 7.750%
13.079%(c)   12/15/28     655   646,977
Southwestern Energy Co.,
Gtd. Notes
4.750%   02/01/32     1,625   1,496,038
5.375%   02/01/29     125   121,482
5.375%   03/15/30(a)     1,575   1,517,331
Sunoco LP/Sunoco Finance Corp.,
Gtd. Notes
4.500%   05/15/29(a)     450   419,005
4.500%   04/30/30     1,175   1,077,757
5.875%   03/15/28     100   99,249
Transocean, Inc.,
Gtd. Notes, 144A
7.250%   11/01/25     175   173,696
7.500%   01/15/26     650   645,125
8.000%   02/01/27     225   222,469
Valaris Ltd.,
Sec’d. Notes, 144A
8.375%   04/30/30     300   309,837
Vital Energy, Inc.,
Gtd. Notes
9.750%   10/15/30(a)     225   245,944
              36,769,639
Packaging & Containers — 2.0%
ARD Finance SA (Luxembourg),
Sr. Sec’d. Notes, 144A, Cash coupon 6.500% or PIK 7.250%
6.500%   06/30/27     1,307   427,879
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.,
Sr. Sec’d. Notes, 144A
4.125%   08/15/26(a)     400   363,000
Graham Packaging Co., Inc.,
Gtd. Notes, 144A
7.125%   08/15/28(a)     755   684,896
Graphic Packaging International LLC,
Gtd. Notes
4.125%   08/15/24     300   297,454
Gtd. Notes, 144A
3.500%   03/01/29     50   44,968
Intelligent Packaging Holdco Issuer LP (Canada),
Sr. Unsec’d. Notes, 144A, Cash coupon 9.000% or PIK 9.750%
9.000%   01/15/26     425   397,375
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada),
Sr. Sec’d. Notes, 144A
6.000%   09/15/28     960   907,200
Iris Holding, Inc.,
Sr. Unsec’d. Notes, 144A
10.000%   12/15/28(a)     800   721,281
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Packaging & Containers (cont’d.)
LABL, Inc.,
Sr. Sec’d. Notes, 144A
5.875%   11/01/28(a)     525   $483,785
6.750%   07/15/26     190   187,566
9.500%   11/01/28     225   227,833
Sr. Unsec’d. Notes, 144A
8.250%   11/01/29     975   834,402
10.500%   07/15/27(a)     950   942,331
Mauser Packaging Solutions Holding Co.,
Sr. Sec’d. Notes, 144A
7.875%   08/15/26(a)     550   560,460
OI European Group BV,
Gtd. Notes, 144A
4.750%   02/15/30     225   206,438
Owens-Brockway Glass Container, Inc.,
Gtd. Notes, 144A
6.375%   08/15/25     200   201,035
6.625%   05/13/27(a)     170   170,070
7.250%   05/15/31     350   356,291
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.,
Sr. Sec’d. Notes, 144A
4.375%   10/15/28(a)     600   560,142
Sealed Air Corp./Sealed Air Corp. US,
Gtd. Notes, 144A
6.125%   02/01/28     125   125,361
Trident TPI Holdings, Inc.,
Gtd. Notes, 144A
12.750%   12/31/28     1,395   1,488,985
TriMas Corp.,
Gtd. Notes, 144A
4.125%   04/15/29     325   295,184
              10,483,936
Pharmaceuticals — 2.2%
AdaptHealth LLC,
Gtd. Notes, 144A
4.625%   08/01/29     750   644,809
5.125%   03/01/30(a)     1,100   959,393
6.125%   08/01/28(a)     920   863,845
Bausch Health Cos., Inc.,
Gtd. Notes, 144A
5.000%   01/30/28     1,550   701,375
5.000%   02/15/29     1,600   672,000
5.250%   01/30/30     750   307,500
5.250%   02/15/31     1,250   512,500
6.250%   02/15/29     6,510   2,783,025
7.000%   01/15/28     250   110,000
9.000%   12/15/25     500   472,500
Jazz Securities DAC,
Sr. Sec’d. Notes, 144A
4.375%   01/15/29(a)     350   324,873
Organon & Co./Organon Foreign Debt Co-Issuer BV,
Sr. Sec’d. Notes, 144A
4.125%   04/30/28     225   209,605
Sr. Unsec’d. Notes, 144A
5.125%   04/30/31(a)     2,725   2,413,296
 
A11
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pharmaceuticals (cont’d.)
P&L Development LLC/PLD Finance Corp.,
Sr. Sec’d. Notes, 144A
7.750%   11/15/25(a)     700   $583,974
              11,558,695
Pipelines — 3.9%
Antero Midstream Partners LP/Antero Midstream Finance Corp.,
Gtd. Notes, 144A
5.375%   06/15/29(a)     600   577,132
5.750%   01/15/28     1,825   1,796,187
6.625%   02/01/32     275   276,176
7.875%   05/15/26     200   203,965
Cheniere Energy Partners LP,
Gtd. Notes
4.000%   03/01/31     900   817,629
Cheniere Energy, Inc.,
Sr. Unsec’d. Notes
4.625%   10/15/28     1,420   1,376,980
CNX Midstream Partners LP,
Gtd. Notes, 144A
4.750%   04/15/30     50   44,520
DCP Midstream Operating LP,
Gtd. Notes, 144A
6.450%   11/03/36     200   209,153
Energy Transfer LP,
Jr. Sub. Notes, Series G
7.125%(ff)   05/15/30(oo)     625   612,353
EQM Midstream Partners LP,
Sr. Unsec’d. Notes
5.500%   07/15/28     50   49,312
Sr. Unsec’d. Notes, 144A
6.000%   07/01/25     101   101,062
6.500%   07/01/27(a)     790   797,624
7.500%   06/01/27     175   179,414
7.500%   06/01/30(a)     375   400,893
Global Partners LP/GLP Finance Corp.,
Gtd. Notes
6.875%   01/15/29     400   397,469
7.000%   08/01/27     525   526,245
Gtd. Notes, 144A
8.250%   01/15/32(a)     350   363,130
Howard Midstream Energy Partners LLC,
Sr. Unsec’d. Notes, 144A
8.875%   07/15/28     225   237,819
Rockies Express Pipeline LLC,
Sr. Unsec’d. Notes, 144A
6.875%   04/15/40     2,069   2,030,331
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.,
Gtd. Notes, 144A
5.500%   01/15/28     1,600   1,542,542
6.000%   12/31/30     515   489,032
6.000%   09/01/31     275   256,368
Sr. Unsec’d. Notes, 144A
7.375%   02/15/29     395   397,255
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
Venture Global Calcasieu Pass LLC,
Sr. Sec’d. Notes, 144A
3.875%   08/15/29     840   $756,217
4.125%   08/15/31     240   213,731
6.250%   01/15/30     275   276,853
Venture Global LNG, Inc.,
Sr. Sec’d. Notes, 144A
9.500%   02/01/29     2,150   2,317,763
9.875%   02/01/32(a)     2,275   2,452,590
Western Midstream Operating LP,
Sr. Unsec’d. Notes
4.050%   02/01/30     575   535,601
5.500%   08/15/48     300   265,363
              20,500,709
Real Estate — 1.1%
Five Point Operating Co. LP/Five Point Capital Corp.,
Gtd. Notes, 144A
10.500%(cc)   01/15/28(a)     1,424   1,468,008
Greystar Real Estate Partners LLC,
Sr. Sec’d. Notes, 144A
7.750%   09/01/30(a)     225   235,556
Howard Hughes Corp. (The),
Gtd. Notes, 144A
4.125%   02/01/29     625   561,870
4.375%   02/01/31(a)     1,000   867,931
5.375%   08/01/28     895   859,450
Hunt Cos., Inc.,
Sr. Sec’d. Notes, 144A
5.250%   04/15/29     1,900   1,735,967
              5,728,782
Real Estate Investment Trusts (REITs) — 1.8%
Diversified Healthcare Trust,
Gtd. Notes
4.375%   03/01/31(a)     550   410,431
9.750%   06/15/25     62   62,022
Sr. Unsec’d. Notes
4.750%   02/15/28(a)     2,325   1,876,297
MPT Operating Partnership LP/MPT Finance Corp.,
Gtd. Notes
3.500%   03/15/31(a)     950   658,558
5.000%   10/15/27(a)     1,225   1,034,064
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer,
Sr. Sec’d. Notes, 144A
7.500%   06/01/25(a)     1,435   1,438,690
RHP Hotel Properties LP/RHP Finance Corp.,
Gtd. Notes, 144A
4.500%   02/15/29(a)     375   350,089
6.500%   04/01/32     505   506,447
Sabra Health Care LP,
Gtd. Notes
5.125%   08/15/26     300   297,516
 
A12
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Real Estate Investment Trusts (REITs) (cont’d.)
SBA Communications Corp.,
Sr. Unsec’d. Notes
3.125%   02/01/29     555   $491,888
Starwood Property Trust, Inc.,
Sr. Unsec’d. Notes, 144A
7.250%   04/01/29     455   458,571
VICI Properties LP/VICI Note Co., Inc.,
Gtd. Notes, 144A
4.500%   01/15/28     1,175   1,125,989
4.625%   12/01/29     1,175   1,110,682
              9,821,244
Retail — 4.2%
1011778 BC ULC/New Red Finance, Inc. (Canada),
Sec’d. Notes, 144A
4.000%   10/15/30     2,050   1,822,429
Arko Corp.,
Gtd. Notes, 144A
5.125%   11/15/29(a)     525   435,222
BCPE Ulysses Intermediate, Inc.,
Sr. Unsec’d. Notes, 144A, Cash coupon 7.750% or PIK 8.500%
7.750%   04/01/27     225   222,739
Beacon Roofing Supply, Inc.,
Sr. Sec’d. Notes, 144A
6.500%   08/01/30     125   126,910
Brinker International, Inc.,
Gtd. Notes, 144A
5.000%   10/01/24     125   124,201
8.250%   07/15/30     1,000   1,053,465
Carrols Restaurant Group, Inc.,
Gtd. Notes, 144A
5.875%   07/01/29     300   304,162
eG Global Finance PLC (United Kingdom),
Sr. Sec’d. Notes, 144A
12.000%   11/30/28     1,075   1,140,844
Ferrellgas LP/Ferrellgas Finance Corp.,
Sr. Unsec’d. Notes, 144A (original cost $139,125; purchased 08/02/22 - 08/04/22)(f)
5.375%   04/01/26     150   146,748
Sr. Unsec’d. Notes, 144A (original cost $292,975; purchased 08/02/22 - 08/15/22)(f)
5.875%   04/01/29     330   314,609
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.,
Gtd. Notes, 144A
6.750%   01/15/30(a)     2,575   2,311,292
Sr. Sec’d. Notes, 144A
4.625%   01/15/29     350   321,264
Foundation Building Materials, Inc.,
Gtd. Notes, 144A
6.000%   03/01/29     1,300   1,196,340
Gap, Inc. (The),
Gtd. Notes, 144A
3.625%   10/01/29     800   700,825
3.875%   10/01/31(a)     675   570,917
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Retail (cont’d.)
LBM Acquisition LLC,
Gtd. Notes, 144A
6.250%   01/15/29(a)     1,300   $1,219,105
LCM Investments Holdings II LLC,
Sr. Unsec’d. Notes, 144A
4.875%   05/01/29(a)     2,025   1,860,897
8.250%   08/01/31     835   872,858
Park River Holdings, Inc.,
Gtd. Notes, 144A
5.625%   02/01/29     1,620   1,379,561
Sr. Unsec’d. Notes, 144A
6.750%   08/01/29     225   200,123
Patrick Industries, Inc.,
Gtd. Notes, 144A
4.750%   05/01/29(a)     300   280,084
7.500%   10/15/27     500   504,756
Sally Holdings LLC/Sally Capital, Inc.,
Gtd. Notes
6.750%   03/01/32(a)     960   952,578
SRS Distribution, Inc.,
Gtd. Notes, 144A
6.000%   12/01/29(a)     925   944,516
Suburban Propane Partners LP/Suburban Energy Finance Corp.,
Sr. Unsec’d. Notes
5.875%   03/01/27     275   271,221
Sr. Unsec’d. Notes, 144A
5.000%   06/01/31     1,450   1,321,080
Superior Plus LP/Superior General Partner, Inc. (Canada),
Gtd. Notes, 144A
4.500%   03/15/29(a)     1,200   1,104,000
White Cap Buyer LLC,
Sr. Unsec’d. Notes, 144A
6.875%   10/15/28     675   662,259
              22,365,005
Software — 0.5%
Black Knight InfoServ LLC,
Gtd. Notes, 144A
3.625%   09/01/28     1,660   1,569,527
Boxer Parent Co., Inc.,
Sr. Sec’d. Notes, 144A
7.125%   10/02/25     300   300,121
Clarivate Science Holdings Corp.,
Gtd. Notes, 144A
4.875%   07/01/29(a)     950   878,833
              2,748,481
Telecommunications — 3.6%
Altice France SA (France),
Sr. Sec’d. Notes, 144A
8.125%   02/01/27     1,150   897,000
Connect Finco Sarl/Connect US Finco LLC (United Kingdom),
Sr. Sec’d. Notes, 144A
6.750%   10/01/26     800   784,000
 
A13
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Telecommunications (cont’d.)
Digicel Group Holdings Ltd. (Jamaica),
Sr. Sec’d. Notes, Series 1A14, 144A (original cost $90,458; purchased 11/14/23)(f)
0.000%   12/31/30^     81   $95,588
Sr. Sec’d. Notes, Series 1B14, 144A (original cost $39; purchased 11/14/23)(f)
0.000%   12/31/30^     387   —
Sr. Sec’d. Notes, Series 3A14, 144A (original cost $11,208; purchased 11/14/23)(f)
0.000%   12/31/30^     5   2,206
Sr. Sec’d. Notes, Series 3B14, 144A (original cost $48; purchased 11/14/23)(f)
0.000%   12/31/30^     480   —
Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./DIFL US LLC (Jamaica),
Sr. Sec’d. Notes, Cash coupon 9.000% and PIK 1.500% (original cost $2,178,173; purchased 01/29/24 - 01/30/24)(f)
10.500%   05/25/27     2,358   2,317,011
Digicel MidCo Ltd./DIFL US II LLC (Jamaica),
Sr. Unsec’d. Notes, PIK 10.500% (original cost $663,289; purchased 01/30/24)(f)
10.500%   11/25/28     1,028   823,085
Frontier Communications Holdings LLC,
Sr. Sec’d. Notes, 144A
5.000%   05/01/28(a)     825   765,867
5.875%   10/15/27     450   435,563
Iliad Holding SASU (France),
Sr. Sec’d. Notes, 144A
6.500%   10/15/26     475   468,872
7.000%   10/15/28(a)     400   394,700
Intelsat Jackson Holdings SA (Luxembourg),
Sr. Sec’d. Notes, 144A
6.500%   03/15/30     2,255   2,093,249
Level 3 Financing, Inc.,
Sec’d. Notes, 144A
4.000%   04/15/31     145   86,793
4.500%   04/01/30     460   289,047
4.875%   06/15/29     655   437,213
Sr. Sec’d. Notes, 144A
10.500%   04/15/29     400   412,205
10.500%   05/15/30     640   660,666
11.000%   11/15/29     2,323   2,419,877
Sprint Capital Corp.,
Gtd. Notes
6.875%   11/15/28     430   457,730
8.750%   03/15/32     731   885,687
Sprint LLC,
Gtd. Notes
7.625%   02/15/25     885   896,009
7.625%   03/01/26     500   516,331
Viasat, Inc.,
Sr. Unsec’d. Notes, 144A
5.625%   09/15/25     2,830   2,757,918
              18,896,617
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Transportation — 0.4%
GN Bondco LLC,
Sr. Sec’d. Notes, 144A
9.500%   10/15/31     1,475   $1,473,169
RXO, Inc.,
Gtd. Notes, 144A
7.500%   11/15/27     325   333,670
XPO, Inc.,
Gtd. Notes, 144A
7.125%   06/01/31     125   128,326
7.125%   02/01/32(a)     400   411,709
              2,346,874
 
Total Corporate Bonds

(cost $475,699,089)
  441,644,425
Floating Rate and Other Loans — 3.1%
Auto Parts & Equipment — 0.1%
Tenneco, Inc.,
Term A Loan, 3 Month SOFR + 4.850%
10.169%(c)   11/17/28     592   551,487
Chemicals — 0.5%
Consolidated Energy Finance SA (Switzerland),
2024 Incremental Term Loan, 1 Month SOFR + 4.500%
9.827%(c)   11/15/30     1,175   1,132,406
Iris Holdings Ltd.,
Initial Term Loan, 3 Month SOFR + 4.850%
10.163%(c)   06/28/28     712   680,009
Venator Finance Sarl,
Initial First-Out Term Loan, 1 Month SOFR + 8.000%
15.314%(c)   12/31/25^     292   292,484
Term Loan, 3 Month SOFR + 10.000%
15.326%(c)   10/12/28     735   727,998
              2,832,897
Computers — 0.1%
McAfee Corp.,
Tranche B-1 Term Loan, 1 Month SOFR + 3.850%
9.176%(c)   03/01/29     331   330,378
Electric — 0.0%
Heritage Power LLC,
Initial Term Loan, 3 Month SOFR + 4.850%
10.163%(c)   07/20/28     205   194,741
Holding Companies-Diversified — 0.1%
Clue OpCo LLC,
Term B Loan, 1 Month SOFR + 4.500%
9.827%(c)   12/19/30     372   365,634
Housewares — 0.1%
SWF Holdings I Corp.,
Initial Term Loan, 1 Month SOFR + 4.114%
9.445%(c)   10/06/28     774   709,222
Insurance — 0.2%
Acrisure LLC,
2021-1 Additional Term Loan, 1 Month LIBOR + 3.750%
9.195%(c)   02/15/27     495   494,181
 
A14
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Floating Rate and Other Loans (continued)
Insurance (cont’d.)
Asurion LLC,
New B-4 Term Loan, 1 Month SOFR + 5.364%
10.692%(c)   01/20/29     865   $770,211
              1,264,392
Media — 0.8%
Altice Financing SA (Luxembourg),
2022 Dollar Loan, 3 Month SOFR + 5.000%
10.314%(c)   10/28/27     600   561,750
CSC Holdings LLC,
2022 Refinancing Term Loan, 1 Month SOFR + 4.500%
9.825%(c)   01/18/28     981   942,155
Diamond Sports Group LLC,
Dip Term Loan
10.000%   12/02/24     898   1,463,954
First Lien Term Loan, 1 Month SOFR + 10.100%
15.426%(c)   05/25/26     146   138,447
Second Lien Term Loan
8.175%   08/24/26     2,226   58,982
Radiate Holdco LLC,
Amendment No. 6 Term Loan, 1 Month SOFR + 3.364%
8.695%(c)   09/25/26     705   586,347
Univision Communications, Inc.,
2021 Replacement Term Loan, 1 Month SOFR + 3.364%
8.695%(c)   03/15/26     465   465,281
              4,216,916
Retail — 0.1%
Great Outdoors Group LLC,
Term B-2 Loan, 1 Month SOFR + 3.864%
9.195%(c)   03/06/28     358   357,897
Software — 0.6%
Boxer Parent Co., Inc.,
2028 Extended Dollar Term Loan, 1 Month SOFR + 4.250%
9.580%(c)   12/29/28     696   699,597
Cotiviti, Inc.,
Term Loan, 1 Month SOFR + 3.500%
8.577%(c)   03/31/31     1,200   1,200,500
Skillsoft Finance II, Inc.,
Initial Term Loan, 1 Month SOFR + 5.364%
10.693%(c)   07/14/28     1,152   1,024,143
              2,924,240
Telecommunications — 0.5%
Connect Finco SARL (United Kingdom),
Term Loan
—%(p)   09/27/29     1,401   1,375,923
Digicel International Finance, Ltd. (Jamaica),
Initial Term Loan, 3 Month SOFR + 6.750%
12.063%(c)   05/29/27     101   96,540
Level 3 Financing, Inc.,
Term Loan, 1 Month SOFR + 6.560%
11.875%(c)   04/16/29^     155   153,342
11.875%(c)   04/15/30^     155   153,559
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Floating Rate and Other Loans (continued)
Telecommunications (cont’d.)
Lumen Technologies, Inc.,
Additional Second Lien Loan Facility
—%(p)   06/01/28   EUR 43   $39,587
Term B-1 Loan, 1 Month SOFR + 2.464%
7.793%(c)   04/15/29     13   9,293
Term B-2 Loan, 1 Month SOFR + 2.464%
7.793%(c)   04/15/30^     13   9,485
Xplornet Communications, Inc. (Canada),
First Lien Refinancing Term Loan, 3 Month SOFR + 4.262%
9.571%(c)   10/02/28     1,630   736,857
Initial Term Loan - Second Lien, 3 Month SOFR + 7.262%
12.564%(c)   10/01/29     735   147,000
              2,721,586
 
Total Floating Rate and Other Loans

(cost $17,754,401)
  16,469,390
Residential Mortgage-Backed Securities — 0.0%
Adjustable Rate Mortgage Trust,
Series 2005-07, Class 1A1
4.904%(cc)   10/25/35     4   2,754
Alternative Loan Trust,
Series 2005-43, Class 4A3
4.009%(cc)   10/25/35     2   1,236
Series 2006-HY13, Class 4A1
4.774%(cc)   02/25/37     1   1,126
Series 2006-OA09, Class 2A1A, 1 Month SOFR + 0.324% (Cap N/A, Floor 0.210%)
5.653%(c)   07/20/46     2   1,531
American Home Mortgage Assets Trust,
Series 2006-04, Class 1A12, 1 Month SOFR + 0.324% (Cap N/A, Floor 0.324%)
5.654%(c)   10/25/46     14   7,293
Banc of America Funding Trust,
Series 2006-B, Class 2A1
4.453%(cc)   03/20/36     3   2,122
Citigroup Mortgage Loan Trust,
Series 2007-10, Class 22AA
4.496%(cc)   09/25/37     6   5,268
HarborView Mortgage Loan Trust,
Series 2006-05, Class 2A1A, 1 Month SOFR + 0.474% (Cap N/A, Floor 0.360%)
5.801%(c)   07/19/46     4   2,125
IndyMac INDX Mortgage Loan Trust,
Series 2006-AR12, Class A1, 1 Month SOFR + 0.494% (Cap N/A, Floor 0.380%)
5.824%(c)   09/25/46     3   2,522
JPMorgan Mortgage Trust,
Series 2007-S03, Class 1A96
6.000%   08/25/37     10   4,511
MASTR Adjustable Rate Mortgages Trust,
Series 2006-OA01, Class 1A1, 1 Month SOFR + 0.324% (Cap N/A, Floor 0.210%)
5.654%(c)   04/25/46     1   1,143
Residential Accredit Loans Trust,
Series 2006-QA02, Class 3A1
6.360%(cc)   02/25/36     8   6,821
 
A15
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Residential Asset Securitization Trust,
Series 2007-A05, Class 2A3
6.000%   05/25/37     2   $1,241
Washington Mutual Mortgage Pass-Through Certificates Trust,
Series 2007-HY01, Class 2A3
4.250%(cc)   02/25/37     1   1,225
Series 2007-HY01, Class 4A1
4.196%(cc)   02/25/37     2   1,789
 
Total Residential Mortgage-Backed Securities

(cost $50,949)
  42,707
U.S. Treasury Obligations — 5.7%
U.S. Treasury Notes
2.750%   04/30/27     1,854   1,765,935
3.000%   07/31/24     9,849   9,772,055
3.875%   11/30/27(k)     5,000   4,920,312
4.125%   07/31/28(k)     10,000   9,940,625
4.250%   01/31/26     4,250   4,216,963
 
Total U.S. Treasury Obligations

(cost $30,801,073)
  30,615,890
    
      Shares  
Common Stocks — 2.0%
Chemicals — 0.8%
Cornerstone Chemical Co.*^
26,744 508,136
TPC Group, Inc.*^
49,934 1,473,053
Venator Materials PLC (original cost $3,574,374; purchased 06/29/17 - 10/19/23)*(f)
2,264 2,021,195
          4,002,384
Electric Utilities — 0.0%
GenOn Energy Holdings, Inc. (Class A Stock)*^
11,836 213,048
Keycon Power Holdings LLC*^
2,150 —
          213,048
Gas Utilities — 0.5%
Ferrellgas Partners LP (Class B Stock) (original cost $3,601,855; purchased 01/30/17 - 04/08/20)(f)
13,116 2,538,132
Independent Power & Renewable Electricity Producers — 0.1%
Vistra Corp.
8,313 579,001
Oil, Gas & Consumable Fuels — 0.2%
Chesapeake Energy Corp.(a)
7,184 638,155
Heritage Power LLC*^
28,339 481,763
Heritage Power LLC*^
1,246 21,182
Heritage Power LLC*^
32,615 16,307
          1,157,407
      Shares   Value
Common Stocks (continued)
Wireless Telecommunication Services — 0.4%
Digicel International Finance Ltd. (Jamaica) (original cost $320,265; purchased 01/29/24 - 02/08/24)*^(f)
264,007   $567,615
Intelsat Emergence SA (Luxembourg)*
52,851   1,420,371
            1,987,986
 
Total Common Stocks

(cost $9,797,472)
  10,477,958
Preferred Stocks — 0.7%
Capital Markets — 0.1%
Goldman Sachs Group, Inc. (The), Series K, 6.375%(c), 3 Month SOFR + 3.812%, Maturing 05/10/24(oo)
11,850   301,819
Electronic Equipment, Instruments & Components — 0.5%
Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31 (original cost $2,850,000; purchased 03/29/21)^(f)
2,850   2,850,000
Wireless Telecommunication Services — 0.1%
Digicel International Finance Ltd. (Jamaica) (original cost $570,750; purchased 01/26/24 - 01/29/24)*^(f)
68,199   695,180
 
Total Preferred Stocks

(cost $3,631,500)
  3,846,999
 
Total Long-Term Investments

(cost $553,286,420)
  518,853,591
Short-Term Investments — 25.9%
Affiliated Mutual Funds
PGIM Core Ultra Short Bond Fund(wb)
10,989,833   10,989,833
PGIM Institutional Money Market Fund (7-day effective yield 5.664%)

(cost $126,518,999; includes $125,937,048 of cash collateral for securities on loan)(b)(wb)
126,628,958   126,565,643
 
Total Short-Term Investments

(cost $137,508,832)
  137,555,476
 
TOTAL INVESTMENTS—123.4%

(cost $690,795,252)
  656,409,067
 
Liabilities in excess of other assets(z) — (23.4)%
  (124,455,439)
 
Net Assets — 100.0%
  $531,953,628
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
EUR Euro
    
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.
BNP BNP Paribas S.A.
CDX Credit Derivative Index
CLO Collateralized Loan Obligation
 
A16
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
DAC Designated Activity Company
DIP Debtor-In-Possession
GSI Goldman Sachs International
iBoxx Bond Market Indices
LIBOR London Interbank Offered Rate
LP Limited Partnership
MASTR Morgan Stanley Structured Asset Security
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
SOFR Secured Overnight Financing Rate
T Swap payment upon termination
    
* Non-income producing security.
# Principal or notional amount is shown in U.S. dollars unless otherwise stated.
^ Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $8,003,485 and 1.5% of net assets.
(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $123,737,668; cash collateral of $125,937,048 (included in liabilities) was received with which the Portfolio purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Portfolio may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day.
(b) Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2024.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2024. 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 $23,681,205. The aggregate value of $14,248,759 is 2.7% 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.
(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.
(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:
 
Futures contracts outstanding at March 31, 2024:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
118   2 Year U.S. Treasury Notes   Jun. 2024   $24,129,156   $(30,258)
146   5 Year U.S. Treasury Notes   Jun. 2024   15,624,282   26,032
116   10 Year U.S. Treasury Notes   Jun. 2024   12,852,438   52,698
27   20 Year U.S. Treasury Bonds   Jun. 2024   3,251,813   57,219
13   30 Year U.S. Ultra Treasury Bonds   Jun. 2024   1,677,000   34,567
                $140,258
Credit default swap agreements outstanding at March 31, 2024:
Reference Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied Credit
Spread at
March 31,
2024(4) 		  Value at
Trade Date 		  Value at
March 31,
2024 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):
CDX.NA.HY.41.V2 12/20/28   5.000%(Q)     1,980   3.116%   $97,473   $149,069   $51,596
CDX.NA.HY.42.V1 06/20/29   5.000%(Q)     1,250   3.289%   85,820   92,186   6,366
                      $183,293   $241,255   $57,962
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.
A17
PSF PGIM HIGH YIELD BOND PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
(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.
    
Total return swap agreements outstanding at March 31, 2024:
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:
iBoxx US Dollar Liquid Investment Grade Index(T)   1 Day SOFR(Q)/ 5.340%   GSI   06/20/24   (2,243)   $(67,838)   $—   $(67,838)
iBoxx US Dollar Liquid Investment Grade Index(T)   1 Day SOFR(Q)/ 5.340%   MSI   09/20/24   (7,550)   (234,019)   —   (234,019)
iBoxx US Dollar Liquid Investment Grade Index(T)   1 Day SOFR(Q)/ 5.340%   BNP   09/20/24   (5,759)   (139,969)   —   (139,969)
                    $(441,826)   $—   $(441,826)
(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).
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).
A18