NPORT-EX 2 PIDPD00PRU093023.htm
PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Long-Term Investments 97.9%          
Asset-Backed Securities 17.2%
Cayman Islands 12.6%
Atlas Static Senior Loan Fund Ltd.,
Series 2022-01A, Class A, 144A, 3 Month SOFR + 2.600% (Cap N/A, Floor 2.600%)
7.908 %(c) 07/15/30   441  $442,969
Bain Capital Credit CLO Ltd.,          
Series 2018-01A, Class A1, 144A, 3 Month LIBOR + 0.960% (Cap N/A, Floor 0.000%) 6.567(c) 04/23/31   248 246,343
Series 2019-03A, Class AR, 144A, 3 Month LIBOR + 1.160% (Cap N/A, Floor 1.160%) 6.755(c) 10/21/34   500 491,576
     
 
Balboa Bay Loan Funding Ltd.,
Series 2020-01A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%)
6.715(c) 01/20/32   1,000 990,950
Battalion CLO Ltd.,
Series 2018-12A, Class A1, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%)
6.400(c) 05/17/31   250 248,128
Broad River BSL Funding CLO Ltd.,
Series 2020-01A, Class AR, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%)
6.758(c) 07/20/34   750 737,250
Carlyle CLO Ltd.,
Series C17A, Class A1AR, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%)
6.661(c) 04/30/31   250 248,387
Carlyle Global Market Strategies CLO Ltd.,
Series 2014-01A, Class A1R2, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%)
6.540(c) 04/17/31   248 246,948
CIFC Funding Ltd.,
Series 2014-02RA, Class A1, 144A, 3 Month SOFR + 1.312% (Cap N/A, Floor 1.050%)
6.657(c) 04/24/30   453 449,880
Clover CLO Ltd.,
Series 2019-02A, Class AR, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.362%)
6.713(c) 10/25/33   500 495,182
Greenwood Park CLO Ltd.,
Series 2018-01A, Class A2, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 0.000%)
6.580(c) 04/15/31   250 247,884
Greywolf CLO Ltd.,
Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.290% (Cap N/A, Floor 0.000%)
6.641(c) 04/26/31   750 739,846
Jamestown CLO Ltd.,
Series 2019-14A, Class A1AR, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%)
6.788(c) 10/20/34   250 243,921
Madison Park Funding Ltd.,
Series 2019-33A, Class AR, 144A, 3 Month SOFR + 1.290% (Cap N/A, Floor 1.290%)
6.598(c) 10/15/32   750 742,936
1

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Asset-Backed Securities (Continued)
Cayman Islands (cont’d.)
     
MidOcean Credit CLO,
Series 2018-08A, Class B, 144A, 3 Month LIBOR + 1.650% (Cap N/A, Floor 0.000%)
7.029 %(c) 02/20/31   250  $243,986
Oaktree CLO Ltd.,
Series 2019-01A, Class A1R, 144A, 3 Month SOFR + 1.372% (Cap N/A, Floor 1.110%)
6.717(c) 04/22/30   900 893,700
OZLM Ltd.,
Series 2014-06A, Class A2AS, 144A, 3 Month SOFR + 2.012% (Cap N/A, Floor 0.000%)
7.320(c) 04/17/31   250 246,950
Palmer Square CLO Ltd.,
Series 2015-01A, Class A1A4, 144A, 3 Month LIBOR + 1.130% (Cap N/A, Floor 1.130%)
6.509(c) 05/21/34   750 739,950
TCW CLO Ltd.,          
Series 2017-01A, Class A1RR, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%) 6.811(c) 10/29/34   250 244,210
Series 2020-01A, Class A1RR, 144A, 3 Month LIBOR + 1.160% (Cap N/A, Floor 1.160%) 6.748(c) 04/20/34   750 742,519
     
 
Telos CLO Ltd.,
Series 2013-04A, Class AR, 144A, 3 Month LIBOR + 1.240% (Cap N/A, Floor 0.000%)
6.810(c) 01/17/30   165 163,407
Trimaran Cavu Ltd.,
Series 2021-01A, Class A, 144A, 3 Month SOFR + 1.472% (Cap N/A, Floor 1.210%)
6.817(c) 04/23/32   500 495,438
Voya CLO Ltd.,
Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%)
6.583(c) 04/25/31   238 236,693
Wellfleet CLO Ltd.,
Series 2018-03A, Class A1A, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 1.250%)
6.838(c) 01/20/32   750 745,973
Wind River CLO Ltd.,
Series 2016-01KRA, Class A1R2, 144A, 3 Month SOFR + 1.472% (Cap N/A, Floor 1.210%)
6.780(c) 10/15/34   250 244,270
          11,569,296
Ireland 1.7%
Ares European CLO DAC,
Series 11A, Class B2R, 144A
1.950 04/15/32 EUR 500 487,827
Armada Euro CLO DAC,
Series 02A, Class A3, 144A
1.500 11/15/31 EUR 230 237,898
2

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Asset-Backed Securities (Continued)
Ireland (cont’d.)
Carlyle Euro CLO DAC,
Series 2021-02A, Class A1, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%)
4.653 %(c) 10/15/35 EUR 300  $320,877
Carlyle Global Market Strategies Euro CLO Ltd.,
Series 2014-02A, Class AR1, 144A, 3 Month EURIBOR + 0.750% (Cap N/A, Floor 0.750%)
4.073(c) 11/15/31 EUR 500 539,097
          1,585,699
Spain 0.1%
TFS,          
Series 2018-03, Class A1^ 0.000(cc) 04/16/40 EUR —(r) 1
Series 2018-03, Class A1, 1 Month EURIBOR + 3.000%^ 6.446(c) 03/15/26 EUR 53 49,783
          49,784
United States 2.8%
Chase Auto Owner Trust,
Series 2022-AA, Class D, 144A
5.400 06/25/30   200 191,178
Enterprise Fleet Financing LLC,
Series 2023-02, Class A2, 144A
5.560 04/22/30   200 199,198
Exeter Automobile Receivables Trust,
Series 2021-03A, Class D
1.550 06/15/27   100 91,892
Ford Credit Floorplan Master Owner Trust A,
Series 2023-01, Class A1, 144A
4.920 05/15/28   200 197,550
Mariner Finance Issuance Trust,
Series 2020-AA, Class A, 144A
2.190 08/21/34   100 96,407
OneMain Direct Auto Receivables Trust,          
Series 2019-01A, Class A, 144A 3.630 09/14/27   100 96,483
Series 2019-01A, Class D, 144A 4.680 04/14/31   100 93,159
Series 2023-01A, Class D, 144A 7.070 02/14/33   200 199,891
     
 
OneMain Financial Issuance Trust,
Series 2023-01A, Class A, 144A
5.500 06/14/38   300 298,347
Oportun Issuance Trust,
Series 2022-02, Class A, 144A
5.940 10/09/29   66 66,142
Regional Management Issuance Trust,
Series 2022-01, Class A, 144A
3.070 03/15/32   100 93,095
Santander Drive Auto Receivables Trust,          
Series 2022-05, Class C 4.740 10/16/28   200 194,863
Series 2022-06, Class C 4.960 11/15/28   100 97,257
3

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Asset-Backed Securities (Continued)
United States (cont’d.)
     
 
TSTAT Ltd.,
Series 2022-01A, Class A1, 144A, 3 Month SOFR + 2.300% (Cap N/A, Floor 2.300%)
7.626 %(c) 07/20/31   675  $678,104
          2,593,566
     
 
Total Asset-Backed Securities
(cost $16,156,087)
15,798,345
Commercial Mortgage-Backed Securities 9.4%
Canada 0.0%
Real Estate Asset Liquidity Trust,
Series 2020-01A, Class A1, 144A
2.381(cc) 02/12/55 CAD 18 12,344
Ireland 0.1%
Last Mile Logistics Pan Euro Finance DAC,
Series 01A, Class D, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%)
5.258(c) 08/17/33 EUR 98 97,852
United Kingdom 0.6%
Deco DAC,
Series 2019-RAM, Class B, SONIA + 3.607% (Cap N/A, Floor 3.607%)
8.262(c) 08/07/30 GBP 171 207,062
Taurus DAC,          
Series 2021-UK4A, Class B, 144A, SONIA + 1.500% (Cap N/A, Floor 1.500%) 6.220(c) 08/17/31 GBP 94 114,432
Series 2021-UK4A, Class C, 144A, SONIA + 1.750% (Cap N/A, Floor 1.750%) 6.470(c) 08/17/31 GBP 94 111,950
Series 2021-UK4A, Class D, 144A, SONIA + 2.100% (Cap N/A, Floor 2.100%) 6.820(c) 08/17/31 GBP 94 109,419
          542,863
United States 8.7%
BANK,          
Series 2018-BN10, Class A4 3.428 02/15/61   243 223,826
Series 2020-BN26, Class A3 2.155 03/15/63   200 165,438
     
 
Barclays Commercial Mortgage Securities Trust,
Series 2018-CHRS, Class C, 144A
4.267(cc) 08/05/38   380 286,487
Benchmark Mortgage Trust,          
Series 2018-B02, Class A3 3.544 02/15/51   200 187,451
4

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Commercial Mortgage-Backed Securities (Continued)
United States (cont’d.)
Benchmark Mortgage Trust, (cont’d.)          
Series 2020-B17, Class A4 2.042 % 03/15/53   75  $60,368
Series 2020-B20, Class A3 1.945 10/15/53   100 82,301
BX Commercial Mortgage Trust,          
Series 2019-XL, Class F, 144A, 1 Month SOFR + 2.114% (Cap N/A, Floor 2.000%) 7.336(c) 10/15/36   85 83,824
Series 2019-XL, Class G, 144A, 1 Month SOFR + 2.414% (Cap N/A, Floor 2.300%) 7.636(c) 10/15/36   85 83,503
Series 2019-XL, Class J, 144A, 1 Month SOFR + 2.764% (Cap N/A, Floor 2.650%) 7.986(c) 10/15/36   517 500,311
Series 2022-AHP, Class E, 144A, 1 Month SOFR + 3.040% (Cap N/A, Floor 3.040%) 8.262(c) 01/17/39   400 382,411
     
 
BX Trust,
Series 2022-LBA06, Class E, 144A, 1 Month SOFR + 2.700% (Cap N/A, Floor 2.700%)
7.922(c) 01/15/39   350 335,972
Citigroup Commercial Mortgage Trust,
Series 2018-B02, Class A3
3.744 03/10/51   150 137,907
Cold Storage Trust,
Series 2020-ICE05, Class E, 144A, 1 Month SOFR + 2.880% (Cap N/A, Floor 2.766%)
8.102(c) 11/15/37   98 97,035
Commercial Mortgage Trust,          
Series 2014-CR17, Class A5 3.977 05/10/47   1,000 978,583
Series 2014-UBS04, Class A5 3.694 08/10/47   1,000 966,772
     
 
Credit Suisse Mortgage Capital Certificates,
Series 2019-ICE04, Class E, 144A, 1 Month SOFR + 2.197% (Cap N/A, Floor 2.150%)
7.419(c) 05/15/36   199 197,346
FHLMC Multifamily Structured Pass-Through
Certificates,
         
Series K052, Class X1, IO 0.631(cc) 11/25/25   4,244 47,164
Series K111, Class X1, IO 1.571(cc) 05/25/30   318 26,329
Series K113, Class X1, IO 1.380(cc) 06/25/30   915 66,700
Series KG03, Class X1, IO 1.378(cc) 06/25/30   1,049 73,212
GS Mortgage Securities Trust,          
Series 2014-GC26, Class A5 3.629 11/10/47   1,000 959,212
Series 2018-GS09, Class A3 3.727 03/10/51   125 115,683
     
 
JPMorgan Chase Commercial Mortgage Securities Trust,
Series 2021-NYAH, Class G, 144A, 1 Month SOFR + 2.754% (Cap N/A, Floor 2.640%)
7.976(c) 06/15/38   150 127,920
MKT Mortgage Trust,
Series 2020-525M, Class F, 144A
2.941(cc) 02/12/40   100 30,027
5

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Commercial Mortgage-Backed Securities (Continued)
United States (cont’d.)
     
ONE Mortgage Trust,
Series 2021-PARK, Class E, 144A, 1 Month SOFR + 1.864% (Cap N/A, Floor 1.750%)
7.086 %(c) 03/15/36   100  $90,589
One New York Plaza Trust,          
Series 2020-01NYP, Class C, 144A, 1 Month SOFR + 2.314% (Cap N/A, Floor 2.200%) 7.536(c) 01/15/36   100 87,039
Series 2020-01NYP, Class D, 144A, 1 Month SOFR + 2.864% (Cap N/A, Floor 2.750%) 8.086(c) 01/15/36   100 77,085
     
 
UBS Commercial Mortgage Trust,
Series 2018-C08, Class A3
3.720 02/15/51   200 182,688
Wells Fargo Commercial Mortgage Trust,          
Series 2016-LC24, Class A3 2.684 10/15/49   213 196,156
Series 2021-C59, Class A3 1.958 04/15/54   600 508,914
Series 2021-FCMT, Class C, 144A, 1 Month SOFR + 2.514% (Cap N/A, Floor 2.400%) 7.736(c) 05/15/31   100 91,731
Series 2021-FCMT, Class E, 144A, 1 Month SOFR + 4.614% (Cap N/A, Floor 4.500%) 9.836(c) 05/15/31   600 517,534
          7,967,518
     
 
Total Commercial Mortgage-Backed Securities
(cost $9,309,140)
8,620,577
Convertible Bond 0.0%
Jamaica 
Digicel Group Holdings Ltd.,
Sub. Notes, 144A, Cash coupon 7.000% or PIK N/A (original cost $763; purchased 03/21/23 - 04/03/23)(f)
(cost $762)
7.000 08/16/23(oo)   5 569
Corporate Bonds 38.6%
Belgium 0.1%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.,
Gtd. Notes
4.900 02/01/46   140 132,749
6

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
Brazil 0.5%
Petrobras Global Finance BV,          
Gtd. Notes 5.375 % 10/01/29 GBP 100  $111,778
Gtd. Notes 6.625 01/16/34 GBP 300 334,712
          446,490
Bulgaria 0.3%
Bulgarian Energy Holding EAD,
Sr. Unsec’d. Notes
2.450 07/22/28 EUR 300 276,240
Canada 1.2%
Bombardier, Inc.,          
Sr. Unsec’d. Notes, 144A 7.125 06/15/26   25 24,719
Sr. Unsec’d. Notes, 144A 7.500 03/15/25   9 9,000
Sr. Unsec’d. Notes, 144A 7.500 02/01/29   25 24,658
Sr. Unsec’d. Notes, 144A 7.875 04/15/27   80 79,700
     
 
Brookfield Residential Properties, Inc./Brookfield Residential US LLC,
Gtd. Notes, 144A
4.875 02/15/30   35 28,263
Cenovus Energy, Inc.,          
Sr. Unsec’d. Notes 2.650 01/15/32   15 12,117
Sr. Unsec’d. Notes 3.750 02/15/52   10 7,099
     
 
Fairfax Financial Holdings Ltd.,
Sr. Unsec’d. Notes
5.625 08/16/32   300 283,791
Hydro-Quebec,          
Local Gov’t. Gtd. Notes, Series HK 9.375 04/15/30   150 184,496
Local Gov’t. Gtd. Notes, Series JN 5.000 02/15/50 CAD 50 42,354
     
 
Mattamy Group Corp.,
Sr. Unsec’d. Notes, 144A
4.625 03/01/30   125 109,362
Ontario Teachers’ Cadillac Fairview Properties Trust,
Sr. Unsec’d. Notes, 144A
3.875 03/20/27   300 277,397
Teck Resources Ltd.,
Sr. Unsec’d. Notes
5.400 02/01/43   60 54,023
          1,136,979
China 2.0%
Agricultural Development Bank of China,
Sr. Unsec’d. Notes
3.800 10/27/30 CNH 6,000 880,156
Aircraft Finance Co. Ltd.,
Sr. Sec’d. Notes, Series B
4.100 03/29/26   54 51,687
7

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
China (cont’d.)
China Development Bank,          
Sr. Unsec’d. Notes 4.300 % 08/02/32 CNH 5,000  $768,538
Unsec’d. Notes 4.200 01/19/27 CNH 1,000 146,772
          1,847,153
Denmark 0.2%
Danske Bank A/S,
Sub. Notes, EMTN
2.500(ff) 06/21/29 EUR 150 160,048
France 2.5%
Banque Federative du Credit Mutuel SA,
Sr. Unsec’d. Notes, 144A
1.604 10/04/26   200 176,499
BNP Paribas SA,          
Sr. Unsec’d. Notes, 144A 2.159(ff) 09/15/29   200 167,961
Sr. Unsec’d. Notes, 144A 2.871(ff) 04/19/32   400 328,704
     
 
BPCE SA,
Sr. Unsec’d. Notes, 144A
2.045(ff) 10/19/27   250 220,552
Credit Agricole Assurances SA,
Sub. Notes
4.250(ff) 01/13/25(oo) EUR 100 106,926
La Poste SA,
Sr. Unsec’d. Notes, EMTN
1.375 04/21/32 EUR 200 182,088
Regie Autonome des Transports Parisiens,
Sr. Unsec’d. Notes, EMTN
0.400 12/19/36 EUR 63 57,863
SNCF Reseau,
Sr. Unsec’d. Notes, Series MPLE
4.700 06/01/35 CAD 100 77,962
Societe Generale SA,          
Sr. Unsec’d. Notes, 144A 1.488(ff) 12/14/26   200 178,671
Sr. Unsec’d. Notes, 144A 2.797(ff) 01/19/28   200 178,370
Sr. Unsec’d. Notes, 144A, MTN 2.625 01/22/25   255 241,922
Sr. Unsec’d. Notes, EMTN 0.250 07/08/27 EUR 400 379,072
          2,296,590
Germany 1.3%
Allianz SE,
Jr. Sub. Notes
3.375(ff) 09/18/24(oo) EUR 100 107,201
Deutsche Bahn Finance GMBH,
Gtd. Notes, MTN
3.800 09/27/27 AUD 100 63,686
Deutsche Bank AG,          
Sr. Unsec’d. Notes 0.898 05/28/24   265 253,726
Sr. Unsec’d. Notes 1.447(ff) 04/01/25   210 201,888
Sr. Unsec’d. Notes 2.552(ff) 01/07/28   150 131,068
8

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
Germany (cont’d.)
Deutsche Bank AG, (cont’d.)          
Sub. Notes, EMTN 3.662 %(ff) 04/10/25 CNH 1,000   $137,800
     
 
TK Elevator Midco GmbH,
Sr. Sec’d. Notes
4.375 07/15/27 EUR 153 152,663
Volkswagen International Finance NV,
Gtd. Notes
4.625(ff) 03/24/26(oo) EUR 100 105,414
          1,153,446
Hong Kong 0.4%
HKT Capital No. 3 Ltd.,
Gtd. Notes
1.650 04/10/27 EUR 200 192,432
Sun Hung Kai Properties Capital Market Ltd.,
Gtd. Notes, EMTN
3.200 08/14/27 CNH 1,000 138,879
          331,311
Hungary 0.1%
MFB Magyar Fejlesztesi Bank Zrt,
Gov’t. Gtd. Notes
0.375 06/09/26 EUR 100 95,631
India 0.4%
NTPC Ltd.,
Sr. Unsec’d. Notes, EMTN
2.750 02/01/27 EUR 200 203,713
Power Finance Corp. Ltd.,
Sr. Unsec’d. Notes, GMTN
1.841 09/21/28 EUR 200 182,693
          386,406
Indonesia 0.1%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara,
Sr. Unsec’d. Notes, 144A
1.875 11/05/31 EUR 100 84,202
Israel 0.3%
Energian Israel Finance Ltd.,
Sr. Sec’d. Notes, 144A
4.500 03/30/24   100 98,785
Israel Electric Corp. Ltd.,
Sec’d. Notes, 144A, GMTN
3.750 02/22/32   200 169,260
          268,045
9

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
Italy 0.8%
Cassa Depositi e Prestiti SpA,
Sr. Unsec’d. Notes, 144A
5.750 % 05/05/26   200  $197,292
Nexi SpA,
Sr. Unsec’d. Notes
2.125 04/30/29 EUR 414 391,466
Rossini Sarl,
Sr. Sec’d. Notes, 144A
6.750 10/30/25 EUR 100 110,716
          699,474
Jamaica 0.3%
Digicel Group Holdings Ltd.,
Sr. Unsec’d. Notes, 144A, Cash coupon 5.000% and PIK 3.000% (original cost $7,850; purchased 03/21/23 - 03/22/23)(f)
8.000 04/01/25   20 8,684
Digicel International Finance Ltd./Digicel International
Holdings Ltd.,
         
Gtd. Notes, 144A (original cost $97,375; purchased 04/16/21)(f) 8.000 12/31/26(d)   100 21,002
Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% (original cost $3,150; purchased 03/17/23)(f) 13.000 12/31/25   5 3,563
Sr. Sec’d. Notes, 144A (original cost $184,500; purchased 03/15/23)(f) 8.750 05/25/24   200 181,448
     
 
Digicel Ltd.,
Gtd. Notes, 144A (original cost $42,000; purchased 03/15/23)(f)
6.750 12/31/23   200 38,000
          252,697
Japan 0.4%
Mitsubishi UFJ Financial Group, Inc.,
Sr. Unsec’d. Notes
1.538(ff) 07/20/27   210 186,915
Nomura Holdings, Inc.,
Sr. Unsec’d. Notes
2.999 01/22/32   200 161,555
          348,470
Kazakhstan 0.2%
Kazakhstan Temir Zholy National Co. JSC,
Gtd. Notes
3.250 12/05/23 CHF 150 168,568
10

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
Luxembourg 0.5%
Blackstone Property Partners Europe Holdings Sarl,
Sr. Unsec’d. Notes, EMTN
1.000 % 05/04/28 EUR 400  $343,805
Matterhorn Telecom SA,
Sr. Sec’d. Notes
3.125 09/15/26 EUR 100 103,396
          447,201
Malta 0.2%
Freeport Terminal Malta PLC,
Gov’t. Gtd. Notes, 144A
7.250 05/15/28   200 216,414
Mexico 0.9%
Comision Federal de Electricidad,
Sr. Unsec’d. Notes
5.000 09/29/36   150 127,160
Petroleos Mexicanos,          
Gtd. Notes 3.625 11/24/25 EUR 200 199,033
Gtd. Notes, EMTN 2.750 04/21/27 EUR 200 174,768
Gtd. Notes, EMTN 4.875 02/21/28 EUR 400 362,523
          863,484
Netherlands 0.5%
Cooperatieve Rabobank UA,
Sr. Unsec’d. Notes, GMTN
3.500 12/14/26 AUD 90 56,718
JDE Peet’s NV,
Gtd. Notes, 144A
1.375 01/15/27   150 130,128
OCI NV,
Sr. Sec’d. Notes
3.625 10/15/25 EUR 225 239,038
          425,884
Norway 0.2%
Aker BP ASA,
Sr. Unsec’d. Notes, 144A
5.600 06/13/28   155 153,936
Peru 0.0%
Peru Enhanced Pass-Through Finance Ltd.,
Pass-Through Certificates
1.962(s) 06/02/25   37 34,581
11

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
Philippines 0.5%
Bangko Sentral ng Pilipinas International Bond,
Sr. Unsec’d. Notes, Series A
8.600 % 06/15/27   276  $309,197
Power Sector Assets & Liabilities Management Corp.,
Gov’t. Gtd. Notes
7.390 12/02/24   123 125,709
          434,906
Poland 0.3%
Bank Gospodarstwa Krajowego,          
Gov’t. Gtd. Notes, 144A, MTN 5.375 05/22/33   200 199,500
Gov’t. Gtd. Notes, EMTN 3.000 05/30/29 EUR 100 102,769
          302,269
Portugal 0.1%
CP - Comboios de Portugal EPE,
Sr. Unsec’d. Notes
5.700 03/05/30 EUR 100 118,579
Russia 0.4%
Gazprom PJSC Via Gaz Capital SA,
Sr. Unsec’d. Notes
4.250 04/06/24 GBP 300 323,404
Saudi Arabia 0.3%
Gaci First Investment Co.,
Gtd. Notes
4.750 02/14/30   300 294,942
Singapore 0.1%
Singapore Telecommunications Ltd.,
Sr. Unsec’d. Notes, 144A
7.375 12/01/31   67 77,815
Slovenia 0.1%
United Group BV,
Sr. Sec’d. Notes, 144A
5.250 02/01/30 EUR 150 132,707
South Africa 0.6%
Eskom Holdings SOC Ltd.,
Gov’t. Gtd. Notes, MTN
6.350 08/10/28   600 572,214
Spain 1.0%
Banco Santander SA,          
Sr. Unsec’d. Notes 1.722(ff) 09/14/27   200 175,377
Sr. Unsec’d. Notes 5.147 08/18/25   200 197,361
12

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
Spain (cont’d.)
     
 
Cellnex Finance Co. SA,
Gtd. Notes, EMTN
2.000 % 02/15/33 EUR 300  $261,802
Cellnex Telecom SA,
Sr. Unsec’d. Notes, EMTN
1.750 10/23/30 EUR 100 90,156
Iberdrola International BV,
Gtd. Notes, Series NC6
1.450(ff) 11/09/26(oo) EUR 200 192,688
          917,384
Supranational Bank 0.4%
Corp. Andina de Fomento,
Sr. Unsec’d. Notes
4.500 03/07/28 EUR 200 222,708
European Bank for Reconstruction & Development,
Sr. Unsec’d. Notes, EMTN
4.250 02/07/28 IDR 300,000 18,496
European Investment Bank,
Sr. Unsec’d. Notes, 144A, EMTN
5.400 01/05/45 CAD 50 43,150
International Bank for Reconstruction & Development,
Sr. Unsec’d. Notes
1.820(ff) 08/11/26   100 90,438
          374,792
Switzerland 1.4%
Credit Suisse AG,          
Sr. Unsec’d. Notes 5.000 07/09/27   450 433,650
Sr. Unsec’d. Notes 7.500 02/15/28   250 264,461
UBS Group AG,          
Sr. Unsec’d. Notes, 144A 1.364(ff) 01/30/27   200 177,409
Sr. Unsec’d. Notes, 144A 1.494(ff) 08/10/27   200 174,830
Sr. Unsec’d. Notes, 144A 2.593(ff) 09/11/25   250 239,688
          1,290,038
United Arab Emirates 0.9%
DP World Ltd.,          
Sr. Unsec’d. Notes 2.375 09/25/26 EUR 200 206,416
Sr. Unsec’d. Notes 4.250 09/25/30 GBP 100 114,668
     
 
Emirates NBD Bank PJSC,
Sr. Unsec’d. Notes, MTN
4.750 02/09/28 AUD 400 261,466
MDGH GMTN RSC Ltd.,          
Gtd. Notes, EMTN 6.875 03/14/26 GBP 100 129,676
Gtd. Notes, GMTN 0.375 03/10/27 EUR 100 96,734
          808,960
13

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United Kingdom 3.8%
Barclays Bank PLC,
Sr. Unsec’d. Notes, EMTN
0.500 % 01/28/33 MXN 10,000  $239,162
Barclays PLC,          
Sr. Unsec’d. Notes 3.932(ff) 05/07/25   200 196,318
Sr. Unsec’d. Notes 5.501(ff) 08/09/28   240 236,089
     
 
BAT Capital Corp.,
Gtd. Notes
2.259 03/25/28   80 69,151
Bellis Acquisition Co. PLC,
Sr. Sec’d. Notes, 144A
3.250 02/16/26 GBP 200 219,774
Bellis Finco PLC,
Sr. Unsec’d. Notes, 144A
4.000 02/16/27 GBP 100 98,657
BP Capital Markets PLC,
Gtd. Notes
4.375(ff) 06/22/25(oo)   150 144,375
DS Smith PLC,
Sr. Unsec’d. Notes, EMTN
0.875 09/12/26 EUR 100 98,876
eG Global Finance PLC,          
Sr. Sec’d. Notes 6.250 10/30/25 EUR 185 195,465
Sr. Sec’d. Notes, 144A 6.250 10/30/25 EUR 92 97,733
HSBC Holdings PLC,          
Sr. Unsec’d. Notes 1.589(ff) 05/24/27   200 177,834
Sr. Unsec’d. Notes 2.013(ff) 09/22/28   200 172,366
Sr. Unsec’d. Notes 2.804(ff) 05/24/32   200 161,618
     
 
Kane Bidco Ltd.,
Sr. Sec’d. Notes, 144A
6.500 02/15/27 GBP 150 175,899
Lloyds Bank PLC,
Sr. Unsec’d. Notes, EMTN
0.000 04/02/32   200 124,162
Market Bidco Finco PLC,
Sr. Sec’d. Notes, 144A
5.500 11/04/27 GBP 100 100,204
Santander UK Group Holdings PLC,
Sr. Unsec’d. Notes
1.673(ff) 06/14/27   350 306,243
Sherwood Financing PLC,
Sr. Sec’d. Notes, 144A
6.000 11/15/26 GBP 175 185,845
TalkTalk Telecom Group Ltd.,
Gtd. Notes
3.875 02/20/25 GBP 200 213,678
Virgin Media Secured Finance PLC,
Sr. Sec’d. Notes
4.250 01/15/30 GBP 300 310,739
          3,524,188
United States 15.3%
AbbVie, Inc.,
Sr. Unsec’d. Notes
4.050 11/21/39   50 43,478
14

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United States (cont’d.)
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC,
Gtd. Notes, 144A
3.500 % 03/15/29   25  $21,757
Allied Universal Holdco LLC/Allied Universal Finance Corp.,
Sr. Sec’d. Notes, 144A
6.625 07/15/26   175 167,319
American Axle & Manufacturing, Inc.,
Gtd. Notes
6.500 04/01/27   50 48,735
American International Group, Inc.,
Sr. Unsec’d. Notes
1.875 06/21/27 EUR 100 101,557
American Medical Systems Europe BV,
Gtd. Notes
1.625 03/08/31 EUR 100 94,670
AmeriGas Partners LP/AmeriGas Finance Corp.,
Sr. Unsec’d. Notes
5.875 08/20/26   75 70,643
Amgen, Inc.,
Sr. Unsec’d. Notes
5.250 03/02/30   125 125,652
Antero Midstream Partners LP/Antero Midstream Finance Corp.,
Gtd. Notes, 144A
7.875 05/15/26   150 153,295
Ascent Resources Utica Holdings LLC/ARU Finance
Corp.,
         
Gtd. Notes, 144A 7.000 11/01/26   25 24,458
Gtd. Notes, 144A 9.000 11/01/27   25 31,261
Ashton Woods USA LLC/Ashton Woods Finance Co.,          
Sr. Unsec’d. Notes, 144A 4.625 08/01/29   25 21,632
Sr. Unsec’d. Notes, 144A 4.625 04/01/30   25 21,405
AT&T, Inc.,          
Sr. Unsec’d. Notes 3.550 09/15/55   40 26,889
Sr. Unsec’d. Notes 3.650 09/15/59   69 46,012
Sr. Unsec’d. Notes 3.950 04/30/31 EUR 200 214,675
Sr. Unsec’d. Notes 4.100 01/19/26 AUD 100 65,323
     
 
B&G Foods, Inc.,
Gtd. Notes
5.250 04/01/25   50 47,560
Ball Corp.,
Gtd. Notes
6.000 06/15/29   50 50,000
Bank of America Corp.,          
Sr. Unsec’d. Notes 1.734(ff) 07/22/27   270 241,966
Sr. Unsec’d. Notes 2.572(ff) 10/20/32   130 105,560
Sr. Unsec’d. Notes 2.687(ff) 04/22/32   195 161,456
Sr. Unsec’d. Notes, MTN 2.087(ff) 06/14/29   300 257,508
Sr. Unsec’d. Notes, MTN 3.194(ff) 07/23/30   85 75,290
     
 
15

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United States (cont’d.)
     
Bausch Health Americas, Inc.,
Gtd. Notes, 144A
8.500 % 01/31/27   135  $76,974
Bausch Health Cos., Inc.,          
Gtd. Notes, 144A 5.000 01/30/28   5 2,312
Gtd. Notes, 144A 5.250 01/30/30   25 11,250
Gtd. Notes, 144A 6.250 02/15/29   10 4,675
Beazer Homes USA, Inc.,          
Gtd. Notes 6.750 03/15/25   50 49,860
Gtd. Notes 7.250 10/15/29   20 19,673
     
 
Black Knight InfoServ LLC,
Gtd. Notes, 144A
3.625 09/01/28   100 91,478
Bristol-Myers Squibb Co.,
Sr. Unsec’d. Notes
2.350 11/13/40   10 6,940
Brixmor Operating Partnership LP,          
Sr. Unsec’d. Notes 2.500 08/16/31   10 7,827
Sr. Unsec’d. Notes 4.125 05/15/29   65 58,641
Broadcom, Inc.,          
Gtd. Notes 4.150 11/15/30   230 211,226
Gtd. Notes, 144A 3.500 02/15/41   30 22,278
Sr. Unsec’d. Notes, 144A 3.137 11/15/35   102 78,283
Sr. Unsec’d. Notes, 144A 3.419 04/15/33   65 54,345
     
 
Caledonia Generating LLC,
Sr. Sec’d. Notes, 144A
1.950 02/28/34   337 281,620
Calpine Corp.,          
Sr. Sec’d. Notes, 144A 3.750 03/01/31   75 61,515
Sr. Unsec’d. Notes, 144A 4.625 02/01/29   60 51,706
Sr. Unsec’d. Notes, 144A 5.000 02/01/31   10 8,411
Sr. Unsec’d. Notes, 144A 5.125 03/15/28   50 45,341
     
 
Cantor Fitzgerald LP,
Sr. Unsec’d. Notes, 144A
4.500 04/14/27   235 221,371
CCO Holdings LLC/CCO Holdings Capital Corp.,          
Sr. Unsec’d. Notes, 144A 4.250 02/01/31   50 41,048
Sr. Unsec’d. Notes, 144A 5.000 02/01/28   75 69,334
     
 
CDW LLC/CDW Finance Corp.,
Gtd. Notes
2.670 12/01/26   100 90,551
CF Industries, Inc.,          
Gtd. Notes 4.950 06/01/43   40 34,663
Gtd. Notes 5.375 03/15/44   40 36,365
     
 
Chart Industries, Inc.,
Sr. Sec’d. Notes, 144A
7.500 01/01/30   25 25,649
16

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United States (cont’d.)
Charter Communications Operating LLC/Charter
Communications Operating Capital,
         
Sr. Sec’d. Notes 2.300 % 02/01/32   40  $30,252
Sr. Sec’d. Notes 3.900 06/01/52   135 88,346
Sr. Sec’d. Notes 4.800 03/01/50   35 26,475
Sr. Sec’d. Notes 6.384 10/23/35   100 98,226
     
 
Cigna Group (The),
Sr. Unsec’d. Notes
2.400 03/15/30   25 21,190
Citigroup, Inc.,          
Jr. Sub. Notes 3.875(ff) 02/18/26(oo)   150 130,428
Sr. Unsec’d. Notes 1.462(ff) 06/09/27   300 267,258
Sr. Unsec’d. Notes 2.520(ff) 11/03/32   35 28,181
Sr. Unsec’d. Notes 2.561(ff) 05/01/32   100 81,554
Sr. Unsec’d. Notes 3.106(ff) 04/08/26   300 287,246
Sub. Notes 6.174(ff) 05/25/34   35 35,508
     
 
CNA Financial Corp.,
Sr. Unsec’d. Notes
3.900 05/01/29   100 92,475
Corebridge Financial, Inc.,
Sr. Unsec’d. Notes
3.900 04/05/32   230 202,835
Cox Communications, Inc.,
Gtd. Notes, 144A
5.450 09/15/28   135 134,949
CSC Holdings LLC,
Sr. Unsec’d. Notes, 144A
4.625 12/01/30   200 100,885
Dana, Inc.,          
Sr. Unsec’d. Notes 4.500 02/15/32   50 41,837
Sr. Unsec’d. Notes 5.375 11/15/27   25 23,962
DaVita, Inc.,          
Gtd. Notes, 144A 3.750 02/15/31   50 39,960
Gtd. Notes, 144A 4.625 06/01/30   100 85,391
     
 
Diamond Sports Group LLC/Diamond Sports Finance Co.,
Gtd. Notes, 144A (original cost $43,125; purchased 07/18/19 - 12/04/19)(f)
6.625 08/15/27(d)   45 1,306
Discovery Communications LLC,
Gtd. Notes
5.300 05/15/49   60 49,599
DISH DBS Corp.,
Gtd. Notes
7.750 07/01/26   100 64,684
Diversified Healthcare Trust,
Gtd. Notes
9.750 06/15/25   37 36,612
Elevance Health, Inc.,
Sr. Unsec’d. Notes
2.875 09/15/29   100 88,929
17

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United States (cont’d.)
     
Endeavor Energy Resources LP/EER Finance, Inc.,
Sr. Unsec’d. Notes, 144A
5.750 % 01/30/28   75  $73,133
Energy Transfer LP,          
Jr. Sub. Notes, Series G 7.125(ff) 05/15/30(oo)   100 88,042
Jr. Sub. Notes, Series H 6.500(ff) 11/15/26(oo)   50 45,533
Sr. Unsec’d. Notes 5.000 05/15/50   20 16,908
Sr. Unsec’d. Notes 6.250 04/15/49   25 24,606
Enterprise Products Operating LLC,          
Gtd. Notes 3.700 01/31/51   15 11,392
Gtd. Notes 4.450 02/15/43   20 17,520
     
 
Fidelity National Information Services, Inc.,
Sr. Unsec’d. Notes
1.500 05/21/27 EUR 100 100,797
Ford Motor Co.,
Sr. Unsec’d. Notes
5.291 12/08/46   125 103,087
Gen Digital, Inc.,
Sr. Unsec’d. Notes, 144A
5.000 04/15/25   75 73,948
General Motors Co.,
Sr. Unsec’d. Notes
5.150 04/01/38   50 45,101
General Motors Financial Co., Inc.,
Sr. Unsec’d. Notes
2.700 06/10/31   75 60,247
Goldman Sachs Group, Inc. (The),          
Jr. Sub. Notes, Series U 3.650(ff) 08/10/26(oo)   130 106,196
Sr. Unsec’d. Notes 1.542(ff) 09/10/27   300 264,889
Sr. Unsec’d. Notes 1.992(ff) 01/27/32   20 15,733
Sr. Unsec’d. Notes 2.615(ff) 04/22/32   195 159,873
Sr. Unsec’d. Notes 4.482(ff) 08/23/28   375 363,131
     
 
HCA, Inc.,
Gtd. Notes
5.250 04/15/25   100 99,175
Hilcorp Energy I LP/Hilcorp Finance Co.,          
Sr. Unsec’d. Notes, 144A 6.000 04/15/30   25 23,075
Sr. Unsec’d. Notes, 144A 6.250 04/15/32   25 22,768
     
 
Honeywell International, Inc.,
Sr. Unsec’d. Notes
3.750 05/17/32 EUR 100 107,504
Hunt Cos., Inc.,
Sr. Sec’d. Notes, 144A
5.250 04/15/29   50 39,913
Jefferies Financial Group, Inc.,
Sr. Unsec’d. Notes
2.625 10/15/31   150 117,333
JPMorgan Chase & Co.,          
Jr. Sub. Notes, Series HH 4.600(ff) 02/01/25(oo)   200 189,000
Sr. Unsec’d. Notes 2.069(ff) 06/01/29   190 163,818
Sr. Unsec’d. Notes 2.083(ff) 04/22/26   90 84,732
Sr. Unsec’d. Notes 2.545(ff) 11/08/32   90 73,979
18

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United States (cont’d.)
JPMorgan Chase & Co., (cont’d.)          
Sr. Unsec’d. Notes 2.580 %(ff) 04/22/32   105  $87,118
Sr. Unsec’d. Notes 3.702(ff) 05/06/30   65 59,755
     
 
Kimco Realty OP LLC,
Gtd. Notes
1.900 03/01/28   135 114,818
Kontoor Brands, Inc.,
Gtd. Notes, 144A
4.125 11/15/29   53 45,605
Kraft Heinz Foods Co.,
Gtd. Notes
3.000 06/01/26   93 87,909
Lamb Weston Holdings, Inc.,
Gtd. Notes, 144A
4.375 01/31/32   50 44,006
Marathon Petroleum Corp.,
Sr. Unsec’d. Notes
6.500 03/01/41   50 51,860
Marriott International, Inc.,
Sr. Unsec’d. Notes, Series HH
2.850 04/15/31   75 63,479
Masonite International Corp.,
Gtd. Notes, 144A
3.500 02/15/30   50 42,125
Medline Borrower LP,          
Sr. Sec’d. Notes, 144A 3.875 04/01/29   50 43,813
Sr. Unsec’d. Notes, 144A 5.250 10/01/29   25 22,198
Morgan Stanley,          
Sr. Unsec’d. Notes 0.406(ff) 10/29/27 EUR 200 194,418
Sr. Unsec’d. Notes 1.593(ff) 05/04/27   110 98,709
Sr. Unsec’d. Notes 4.656(ff) 03/02/29 EUR 300 333,641
Sr. Unsec’d. Notes, EMTN 7.500 12/15/27 MXN 1,000 53,439
Sr. Unsec’d. Notes, GMTN 2.239(ff) 07/21/32   50 39,772
Sr. Unsec’d. Notes, MTN 1.928(ff) 04/28/32   180 140,629
MPLX LP,          
Sr. Unsec’d. Notes 4.000 03/15/28   25 23,641
Sr. Unsec’d. Notes 4.950 09/01/32   450 430,474
Nationstar Mortgage Holdings, Inc.,          
Gtd. Notes, 144A 5.500 08/15/28   15 13,599
Gtd. Notes, 144A 6.000 01/15/27   35 33,466
NRG Energy, Inc.,          
Gtd. Notes 5.750 01/15/28   53 50,473
Jr. Sub. Notes, 144A 10.250(ff) 03/15/28(oo)   25 24,305
     
 
OneMain Finance Corp.,
Gtd. Notes
4.000 09/15/30   25 19,668
ONEOK, Inc.,
Gtd. Notes
4.450 09/01/49   120 91,809
19

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United States (cont’d.)
     
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC,
Sr. Sec’d. Notes, 144A
4.000 % 10/15/27   50  $45,063
Penn Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
5.625 01/15/27   75 70,792
Post Holdings, Inc.,
Sr. Unsec’d. Notes, 144A
4.500 09/15/31   50 42,596
Realty Income Corp.,          
Sr. Unsec’d. Notes 2.200 06/15/28   5 4,353
Sr. Unsec’d. Notes 2.850 12/15/32   5 4,079
Sr. Unsec’d. Notes 4.875 07/06/30 EUR 200 223,322
     
 
Skyworks Solutions, Inc.,
Sr. Unsec’d. Notes
3.000 06/01/31   75 62,249
Smyrna Ready Mix Concrete LLC,
Sr. Sec’d. Notes, 144A
6.000 11/01/28   60 57,156
Southwest Airlines Co.,
Sr. Unsec’d. Notes
5.125 06/15/27   180 179,523
Standard Industries, Inc.,
Sr. Unsec’d. Notes, 144A
4.375 07/15/30   25 21,728
Stryker Corp.,
Sr. Unsec’d. Notes
2.625 11/30/30 EUR 100 102,188
Suburban Propane Partners LP/Suburban Energy Finance Corp.,
Sr. Unsec’d. Notes
5.875 03/01/27   50 49,163
Swiss Re Finance UK PLC,
Gtd. Notes, EMTN
2.714(ff) 06/04/52 EUR 100 89,915
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp.,
         
Gtd. Notes, 144A 5.500 01/15/28   50 46,120
Gtd. Notes, 144A 7.500 10/01/25   50 50,190
     
 
Targa Resources Corp.,
Gtd. Notes
4.200 02/01/33   40 35,743
Taylor Morrison Communities, Inc.,          
Gtd. Notes, 144A 5.875 06/15/27   25 24,637
Sr. Unsec’d. Notes, 144A 5.125 08/01/30   10 9,336
     
 
Tenet Healthcare Corp.,
Gtd. Notes
6.125 10/01/28   50 47,643
Thermo Fisher Scientific, Inc.,
Sr. Unsec’d. Notes
3.650 11/21/34 EUR 100 108,125
T-Mobile USA, Inc.,          
Gtd. Notes 4.375 04/15/40   30 26,476
Gtd. Notes 4.500 04/15/50   40 34,156
20

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United States (cont’d.)
     
 
Tri Pointe Homes, Inc.,
Gtd. Notes
5.700 % 06/15/28   50  $48,025
Truist Financial Corp.,
Sr. Unsec’d. Notes, MTN
5.867(ff) 06/08/34   25 25,212
U.S. Bancorp,
Jr. Sub. Notes
3.700(ff) 01/15/27(oo)   200 155,848
UGI International LLC,
Gtd. Notes, 144A
2.500 12/01/29 EUR 150 126,992
United Airlines 2019-2 Class AA Pass-Through Trust,
Pass-Through Certificates
2.700 11/01/33   21 18,210
United Airlines, Inc.,          
Sr. Sec’d. Notes, 144A 4.375 04/15/26   60 56,831
Sr. Sec’d. Notes, 144A 4.625 04/15/29   10 9,066
     
 
United Rentals North America, Inc.,
Gtd. Notes
5.250 01/15/30   60 57,149
Vector Group Ltd.,
Sr. Sec’d. Notes, 144A
5.750 02/01/29   125 108,795
Ventas Realty LP,
Gtd. Notes
2.500 09/01/31   130 103,030
Venture Global Calcasieu Pass LLC,          
Sr. Sec’d. Notes, 144A 3.875 08/15/29   5 4,333
Sr. Sec’d. Notes, 144A 4.125 08/15/31   5 4,242
Verizon Communications, Inc.,          
Sr. Unsec’d. Notes 2.550 03/21/31   45 37,314
Sr. Unsec’d. Notes 2.650 11/20/40   45 30,767
Sr. Unsec’d. Notes 3.400 03/22/41   20 15,197
Viatris, Inc.,          
Gtd. Notes 3.850 06/22/40   110 78,048
Gtd. Notes 4.000 06/22/50   15 10,145
     
 
VICI Properties LP,
Sr. Unsec’d. Notes
4.950 02/15/30   160 151,685
Vistra Corp.,          
Jr. Sub. Notes, 144A 7.000(ff) 12/15/26(oo)   25 22,526
Jr. Sub. Notes, 144A 8.000(ff) 10/15/26(oo)   125 118,897
Vistra Operations Co. LLC,          
Gtd. Notes, 144A 5.000 07/31/27   45 42,339
Gtd. Notes, 144A 5.625 02/15/27   75 72,521
     
 
Warner Media LLC,
Gtd. Notes
4.050 12/15/23   150 148,699
Warnermedia Holdings, Inc.,          
Gtd. Notes 3.755 03/15/27   100 93,612
Gtd. Notes 5.050 03/15/42   65 54,154
21

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Corporate Bonds (Continued)
United States (cont’d.)
Warnermedia Holdings, Inc., (cont’d.)          
Gtd. Notes 5.141 % 03/15/52   130  $105,322
Wells Fargo & Co.,          
Sr. Unsec’d. Notes, MTN 2.164(ff) 02/11/26   85 80,346
Sr. Unsec’d. Notes, MTN 2.879(ff) 10/30/30   130 112,485
Welltower OP LLC,          
Gtd. Notes 2.050 01/15/29   50 41,983
Gtd. Notes 3.100 01/15/30   70 61,254
     
 
Williams Cos., Inc. (The),
Sr. Unsec’d. Notes
3.500 10/15/51   30 20,909
WPC Eurobond BV,
Gtd. Notes
0.950 06/01/30 EUR 100 84,951
          14,077,127
     
 
Total Corporate Bonds
(cost $39,706,505)
35,475,324
Floating Rate and Other Loans 0.0%
Jamaica 0.0%
Digicel International Finance Ltd.,
First Lien Initial Term B Loan, 6 Month LIBOR + 3.250%
8.981(c) 05/27/24   10 8,969
United States 0.0%
Diamond Sports Group LLC,          
First Lien Term Loan, 1 Month SOFR + 10.100% 12.775(c) 05/25/26   5 4,024
Second Lien Term Loan 8.025 08/24/26   149 4,211
          8,235
     
 
Total Floating Rate and Other Loans
(cost $70,064)
17,204
Municipal Bond 0.2%
Puerto Rico 
Commonwealth of Puerto Rico,
General Obligation, Sub-Series C
(cost $158,754)
0.000(cc) 11/01/43   283 145,110
22

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Residential Mortgage-Backed Securities 2.5%
Spain 0.0%
Retiro Mortgage Securities DAC,
Series 01A, Class A1, 144A, 3 Month EURIBOR + 2.000% (Cap 5.000%, Floor 0.000%)
5.000 %(c) 07/30/75 EUR 16  $17,282
United States 2.5%
Bellemeade Re Ltd.,
Series 2021-01A, Class M1A, 144A, 30 Day Average SOFR + 1.750% (Cap N/A, Floor 1.750%)
6.819(c) 03/25/31   17 17,282
BVRT Financing Trust,
Series 2021-04, Class F, 144A, 1 Month SOFR + 2.000%^
7.067(c) 09/12/26   23 23,174
Connecticut Avenue Securities Trust,          
Series 2022-R01, Class 1B1, 144A, 30 Day Average SOFR + 3.150% (Cap N/A, Floor 0.000%) 8.219(c) 12/25/41   110 110,579
Series 2022-R03, Class 1B1, 144A, 30 Day Average SOFR + 6.250% (Cap N/A, Floor 0.000%) 11.319(c) 03/25/42   25 27,330
Series 2022-R04, Class 1B1, 144A, 30 Day Average SOFR + 5.250% (Cap N/A, Floor 0.000%) 10.319(c) 03/25/42   20 21,069
Series 2023-R05, Class 1M2, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 3.100%) 8.169(c) 06/25/43   100 102,390
Series 2023-R06, Class 1M2, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 0.000%) 7.769(c) 07/25/43   100 100,734
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%) 9.069(c) 11/25/50   35 36,223
Series 2020-HQA05, Class M2, 144A, 30 Day Average SOFR + 2.600% (Cap N/A, Floor 0.000%) 7.669(c) 11/25/50   85 86,236
FHLMC Structured Agency Credit Risk REMIC Trust,          
Series 2021-DNA01, Class B1, 144A, 30 Day Average SOFR + 2.650% (Cap N/A, Floor 0.000%) 7.719(c) 01/25/51   10 9,803
Series 2021-DNA01, Class M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 0.000%) 6.869(c) 01/25/51   59 58,971
Series 2021-DNA03, Class B1, 144A, 30 Day Average SOFR + 3.500% (Cap N/A, Floor 0.000%) 8.569(c) 10/25/33   45 46,373
Series 2021-DNA05, Class B1, 144A, 30 Day Average SOFR + 3.050% (Cap N/A, Floor 0.000%) 8.119(c) 01/25/34   30 30,094
Series 2021-DNA05, Class M2, 144A, 30 Day Average SOFR + 1.650% (Cap N/A, Floor 0.000%) 6.719(c) 01/25/34   14 14,190
Series 2021-DNA06, Class B1, 144A, 30 Day Average SOFR + 3.400% (Cap N/A, Floor 0.000%) 8.469(c) 10/25/41   100 100,500
Series 2021-HQA03, Class B1, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%) 8.419(c) 09/25/41   30 29,888
23

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Residential Mortgage-Backed Securities (Continued)
United States (cont’d.)
FHLMC Structured Agency Credit Risk REMIC Trust, (cont’d.)          
Series 2021-HQA03, Class M2, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) 7.169 %(c) 09/25/41   70  $68,600
Series 2022-DNA03, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 0.000%) 7.969(c) 04/25/42   140 142,431
     
 
GCAT Asset-Backed Notes,
Series 2021-01, Class A1, 144A
2.487 11/25/49   139 126,253
Home Re Ltd.,
Series 2021-01, Class M1B, 144A, 1 Month LIBOR + 1.550% (Cap N/A, Floor 0.000%)
6.962(c) 07/25/33   24 24,189
Legacy Mortgage Asset Trust,          
Series 2019-PR01, Class A1, 144A 6.858 09/25/59   53 52,573
Series 2020-GS01, Class A1, 144A 5.882 10/25/59   63 62,783
     
 
MFA Trust,
Series 2021-RPL01, Class A1, 144A
1.131(cc) 07/25/60   153 134,451
Oaktown Re VII Ltd.,
Series 2021-02, Class M1A, 144A, 30 Day Average SOFR + 1.600% (Cap N/A, Floor 1.600%)
6.669(c) 04/25/34   271 268,924
PMT Credit Risk Transfer Trust,
Series 2023-1R, Class A, 144A, 30 Day Average SOFR + 4.400% (Cap N/A, Floor 0.000%)
9.469(c) 03/27/25   192 192,445
PNMAC GMSR Issuer Trust,          
Series 2018-GT01, Class A, 144A, 1 Month LIBOR + 3.850% (Cap N/A, Floor 2.850%) 9.262(c) 02/25/25   100 99,950
Series 2018-GT02, Class A, 144A, 1 Month LIBOR + 2.650% (Cap N/A, Floor 0.000%) 8.062(c) 08/25/25   100 99,130
     
 
Radnor Re Ltd.,
Series 2023-01, Class M1A, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 2.700%)
7.767(c) 07/25/33   150 150,375
          2,236,940
     
 
Total Residential Mortgage-Backed Securities
(cost $2,277,960)
2,254,222
Sovereign Bonds 23.3%
Andorra 0.2%
Andorra International Bond,
Sr. Unsec’d. Notes, EMTN
1.250 05/06/31 EUR 200 177,618
24

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Sovereign Bonds (Continued)
Austria 0.2%
Republic of Austria Government International Bond,
Sr. Unsec’d. Notes, 144A, MTN
5.375 % 12/01/34 CAD 280  $228,124
Brazil 0.8%
Brazil Minas SPE via State of Minas Gerais,
Gov’t. Gtd. Notes
5.333 02/15/28   733 718,428
Bulgaria 0.3%
Bulgaria Government International Bond,          
Sr. Unsec’d. Notes 1.375 09/23/50 EUR 100 60,231
Sr. Unsec’d. Notes 4.125 09/23/29 EUR 100 109,005
Sr. Unsec’d. Notes, GMTN 3.125 03/26/35 EUR 100 95,917
          265,153
Canada 0.1%
Province of Nova Scotia,
Unsec’d. Notes
3.450 06/01/45 CAD 50 32,654
Province of Saskatchewan,
Unsec’d. Notes
3.300 06/02/48 CAD 100 63,735
          96,389
Chile 0.1%
Chile Government International Bond,
Sr. Unsec’d. Notes
1.440 02/01/29 EUR 115 110,560
China 1.0%
China Government Bond,          
Sr. Unsec’d. Notes 3.600 06/27/28 CNH 2,000 291,566
Sr. Unsec’d. Notes 3.950 06/29/43 CNH 1,500 230,299
Sr. Unsec’d. Notes 4.000 11/30/35 CNH 500 76,664
Sr. Unsec’d. Notes 4.400 12/12/46 CNH 500 81,170
     
 
China Government International Bond,
Sr. Unsec’d. Notes
0.250 11/25/30 EUR 100 86,678
Export-Import Bank of China (The),
Sr. Unsec’d. Notes
4.400 05/14/24 CNH 1,000 141,971
          908,348
25

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Sovereign Bonds (Continued)
Colombia 0.9%
Colombia Government International Bond,          
Sr. Unsec’d. Notes 3.000 % 01/30/30   200  $160,620
Sr. Unsec’d. Notes 9.850 06/28/27 COP 200,000 49,455
Sr. Unsec’d. Notes, EMTN 3.875 03/22/26 EUR 600 632,580
          842,655
Croatia 0.5%
Croatia Government International Bond,          
Sr. Unsec’d. Notes 1.125 06/19/29 EUR 200 191,871
Sr. Unsec’d. Notes 1.125 03/04/33 EUR 300 258,883
          450,754
Cyprus 0.9%
Cyprus Government International Bond,          
Sr. Unsec’d. Notes, EMTN 0.625 01/21/30 EUR 100 91,749
Sr. Unsec’d. Notes, EMTN 0.950 01/20/32 EUR 300 266,522
Sr. Unsec’d. Notes, EMTN 1.250 01/21/40 EUR 20 14,587
Sr. Unsec’d. Notes, EMTN 2.375 09/25/28 EUR 100 104,220
Sr. Unsec’d. Notes, EMTN 2.750 06/27/24 EUR 100 109,220
Sr. Unsec’d. Notes, EMTN 2.750 02/26/34 EUR 200 197,241
Sr. Unsec’d. Notes, EMTN 2.750 05/03/49 EUR 30 26,413
Sr. Unsec’d. Notes, EMTN 4.250 11/04/25 EUR 50 55,943
          865,895
Denmark 0.0%
Denmark Government Bond,
Bonds, Series 30YR
0.250 11/15/52 DKK 300 22,436
Dominican Republic 0.1%
Dominican Republic International Bond,
Sr. Unsec’d. Notes
5.950 01/25/27   100 98,728
Estonia 0.2%
Estonia Government International Bond,
Sr. Unsec’d. Notes
4.000 10/12/32 EUR 200 224,850
France 0.2%
Caisse Francaise de Financement Local,
Covered Bonds, EMTN
4.680 03/09/29 CAD 200 150,377
26

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Sovereign Bonds (Continued)
Germany 0.2%
Bundesrepublik Deutschland Bundesanleihe,          
Bonds(k) 0.000 % 08/15/31 EUR 100  $90,808
Bonds 1.700 08/15/32 EUR 110 113,842
          204,650
Greece 2.4%
Hellenic Republic Government Bond,          
Bonds 4.300 02/24/24 EUR 21 22,485
Bonds 4.300 02/24/25 EUR 13 14,398
Bonds 4.300 02/24/26 EUR 34 36,260
Bonds 4.300 02/24/27 EUR 65 69,238
Bonds 4.300 02/24/28 EUR 42 46,213
Bonds 4.300 02/24/29 EUR 25 26,655
Bonds 4.300 02/24/30 EUR 10 10,605
Bonds 4.300 02/24/31 EUR 23 24,302
Bonds 4.300 02/24/32 EUR 24 25,256
Bonds 4.300 02/24/33 EUR 46 47,923
Bonds 4.300 02/24/34 EUR 22 22,722
Bonds 4.300 02/24/35 EUR 33 33,812
Bonds 4.300 02/24/36 EUR 24 23,924
Bonds 4.300 02/24/37 EUR 16 16,430
Bonds 4.300 02/24/38 EUR 15 15,746
Bonds 4.300 02/24/39 EUR 23 24,573
Bonds 4.300 02/24/40 EUR 23 21,554
Bonds 4.300 02/24/41 EUR 23 21,275
Bonds 4.300 02/24/42 EUR 37 39,049
Bonds, 144A 0.750 06/18/31 EUR 500 443,953
Sr. Unsec’d. Notes, 144A 1.875 02/04/35 EUR 1,019 911,229
Sr. Unsec’d. Notes, 144A 1.875 01/24/52 EUR 345 238,090
     
 
Hellenic Republic Government International Bond,
Sr. Unsec’d. Notes
5.200 07/17/34 EUR 50 58,302
          2,193,994
Hong Kong 0.4%
Airport Authority,
Sr. Unsec’d. Notes, 144A
2.500 01/12/32   245 206,119
Hong Kong Government International Bond,
Sr. Unsec’d. Notes, GMTN
1.000 11/24/41 EUR 200 138,413
          344,532
27

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Sovereign Bonds (Continued)
Hungary 0.4%
Hungary Government International Bond,          
Sr. Unsec’d. Notes 1.750 % 10/10/27 EUR 100  $98,841
Sr. Unsec’d. Notes 1.750 06/05/35 EUR 100 78,226
Sr. Unsec’d. Notes, 144A 2.125 09/22/31   200 156,076
          333,143
Iceland 0.1%
Iceland Government International Bond,
Sr. Unsec’d. Notes
0.000 04/15/28 EUR 100 91,544
India 0.1%
Export-Import Bank of India,
Sr. Unsec’d. Notes, EMTN
3.450 06/25/26 CNH 1,000 136,958
Indonesia 1.3%
Indonesia Government International Bond,          
Sr. Unsec’d. Notes 0.900 02/14/27 EUR 100 97,983
Sr. Unsec’d. Notes 1.100 03/12/33 EUR 300 243,423
Sr. Unsec’d. Notes 1.300 03/23/34 EUR 300 242,064
Sr. Unsec’d. Notes 1.450 09/18/26 EUR 100 100,860
Sr. Unsec’d. Notes 1.750 04/24/25 EUR 200 210,189
Sr. Unsec’d. Notes 3.375 07/30/25 EUR 100 107,998
Sr. Unsec’d. Notes, EMTN 3.750 06/14/28 EUR 200 217,057
          1,219,574
Israel 0.5%
Israel Government Bond - Fixed,
Bonds, Series 0537
1.500 05/31/37 ILS 300 60,181
Israel Government International Bond,          
Sr. Unsec’d. Notes, EMTN 1.500 01/18/27 EUR 100 101,419
Sr. Unsec’d. Notes, EMTN 1.500 01/16/29 EUR 270 264,397
          425,997
Italy 2.9%
Italy Buoni Poliennali Del Tesoro,          
Sr. Unsec’d. Notes, Series 10Y, 144A 0.950 12/01/31 EUR 100 87,387
Sr. Unsec’d. Notes, Series 16YR, 144A 1.450 03/01/36 EUR 120 97,145
Sr. Unsec’d. Notes, Series 21YR, 144A 1.800 03/01/41 EUR 715 546,094
Sr. Unsec’d. Notes, Series 26YR, 144A 3.350 03/01/35 EUR 335 340,877
Sr. Unsec’d. Notes, Series 31Y, 144A 1.700 09/01/51 EUR 150 97,009
28

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Sovereign Bonds (Continued)
Italy (cont’d.)
Italy Buoni Poliennali Del Tesoro, (cont’d.)          
Sr. Unsec’d. Notes, Series 50YR, 144A 2.800 % 03/01/67 EUR 105   $80,578
     
 
Region of Lazio,
Sr. Unsec’d. Notes
3.088 03/31/43 EUR 170 161,031
Repubic of Italy Government International Bond Coupon Strips,
Sr. Unsec’d. Notes
1.737(s) 02/20/31 EUR 85 68,994
Republic of Italy Government International Bond,          
Sr. Unsec’d. Notes 2.875 10/17/29   200 173,439
Sr. Unsec’d. Notes, EMTN 5.200 07/31/34 EUR 300 349,851
Sr. Unsec’d. Notes, EMTN 5.345 01/27/48 EUR 50 57,711
Sr. Unsec’d. Notes, EMTN 6.000 08/04/28 GBP 100 127,995
Sr. Unsec’d. Notes, MTN 5.125 07/31/24 EUR 350 388,847
Sr. Unsec’d. Notes, MTN 5.375 06/15/33   100 98,848
          2,675,806
Kazakhstan 0.3%
Kazakhstan Government International Bond,          
Sr. Unsec’d. Notes, EMTN 0.600 09/30/26 EUR 200 194,778
Sr. Unsec’d. Notes, EMTN 2.375 11/09/28 EUR 115 114,901
          309,679
Latvia 0.3%
Latvia Government International Bond,
Sr. Unsec’d. Notes, GMTN
0.250 01/23/30 EUR 300 261,416
Lithuania 0.2%
Lithuania Government International Bond,
Sr. Unsec’d. Notes, EMTN
2.125 10/22/35 EUR 200 183,410
Mexico 1.3%
Mexico Government International Bond,          
Sr. Unsec’d. Notes 2.375 02/11/30 EUR 100 96,878
Sr. Unsec’d. Notes 2.875 04/08/39 EUR 200 163,632
Sr. Unsec’d. Notes, EMTN 1.750 04/17/28 EUR 100 98,418
Sr. Unsec’d. Notes, GMTN 6.750 02/06/24 GBP 100 128,335
Sr. Unsec’d. Notes, Series 19 1.440 07/24/24 JPY 100,000 707,282
          1,194,545
29

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Sovereign Bonds (Continued)
New Zealand 0.1%
New Zealand Local Government Funding Agency Bond,
Local Gov’t. Gtd. Notes
3.500 % 04/14/33 NZD 100  $53,259
Panama 0.4%
Panama Government International Bond,          
Sr. Unsec’d. Notes 3.160 01/23/30   200 175,034
Sr. Unsec’d. Notes 3.875 03/17/28   200 188,400
          363,434
Peru 0.5%
Peru Government Bond,
Sr. Unsec’d. Notes
6.150 08/12/32 PEN 30 8,039
Peruvian Government International Bond,          
Sr. Unsec’d. Notes 1.250 03/11/33 EUR 105 87,689
Sr. Unsec’d. Notes 2.750 01/30/26 EUR 300 319,245
Sr. Unsec’d. Notes 6.900 08/12/37 PEN 100 27,875
          442,848
Philippines 0.6%
Philippine Government International Bond,          
Sr. Unsec’d. Notes 0.700 02/03/29 EUR 500 456,342
Sr. Unsec’d. Notes 1.750 04/28/41 EUR 100 72,380
          528,722
Portugal 0.9%
Portugal Obrigacoes do Tesouro OT,          
Sr. Unsec’d. Notes, 144A 0.300 10/17/31 EUR 200 175,334
Sr. Unsec’d. Notes, 144A 1.150 04/11/42 EUR 85 62,720
Sr. Unsec’d. Notes, 144A 4.100 04/15/37 EUR 195 227,478
Sr. Unsec’d. Notes, 144A 4.100 02/15/45 EUR 135 159,248
Sr. Unsec’d. Notes, Series 15YR, 144A 2.250 04/18/34 EUR 50 49,643
Unsec’d. Notes, 144A 1.000 04/12/52 EUR 260 153,206
          827,629
Qatar 0.2%
Qatar Government International Bond,
Sr. Unsec’d. Notes, 144A
3.400 04/16/25   200 194,020
30

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Sovereign Bonds (Continued)
Romania 0.6%
Romanian Government International Bond,          
Sr. Unsec’d. Notes, 144A, MTN 2.125 % 03/07/28 EUR 180  $174,054
Sr. Unsec’d. Notes, EMTN 1.750 07/13/30 EUR 200 170,493
Sr. Unsec’d. Notes, EMTN 3.500 04/03/34 EUR 50 44,248
Sr. Unsec’d. Notes, EMTN 3.875 10/29/35 EUR 100 89,613
Unsec’d. Notes, 144A, MTN 2.124 07/16/31 EUR 50 42,375
          520,783
Saudi Arabia 0.4%
Saudi Government International Bond,
Sr. Unsec’d. Notes
2.000 07/09/39 EUR 425 337,022
Serbia 0.5%
Serbia International Bond,          
Sr. Unsec’d. Notes 1.650 03/03/33 EUR 100 75,411
Sr. Unsec’d. Notes 3.125 05/15/27 EUR 250 251,071
Sr. Unsec’d. Notes, 144A 2.125 12/01/30   200 154,762
          481,244
Singapore 0.0%
Singapore Government Bond,
Bonds
2.750 03/01/46 SGD 40 30,100
Slovakia 0.2%
Slovakia Government Bond,
Unsec’d. Notes, Series 242
0.375 04/21/36 EUR 200 141,308
Slovenia 0.3%
Slovenia Government Bond,
Unsec’d. Notes, Series RS86
0.000 02/12/31 EUR 300 257,328
Spain 1.5%
Autonomous Community of Catalonia,          
Sr. Unsec’d. Notes 4.220 04/26/35 EUR 100 107,871
Sr. Unsec’d. Notes, EMTN 5.900 05/28/30 EUR 50 59,209
Spain Government Bond,          
Sr. Unsec’d. Notes, 144A 0.500 04/30/30 EUR 35 32,169
Sr. Unsec’d. Notes, 144A(k) 0.500 10/31/31 EUR 250 219,335
Sr. Unsec’d. Notes, 144A 0.850 07/30/37 EUR 110 83,477
Sr. Unsec’d. Notes, 144A(k) 1.000 10/31/50 EUR 190 108,978
31

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
Sovereign Bonds (Continued)
Spain (cont’d.)
Spain Government Bond, (cont’d.)          
Sr. Unsec’d. Notes, 144A 1.850 % 07/30/35 EUR 285  $260,851
Sr. Unsec’d. Notes, 144A 3.450 07/30/43 EUR 300 309,117
Sr. Unsec’d. Notes, 144A 3.450 07/30/66 EUR 60 58,525
     
 
Spain Government International Bond,
Sr. Unsec’d. Notes, EMTN
5.250 04/06/29 GBP 100 126,715
          1,366,247
Ukraine 0.3%
Ukraine Government International Bond,          
Sr. Unsec’d. Notes 4.375 01/27/32(d) EUR 641 198,043
Sr. Unsec’d. Notes 6.750 06/20/28(d) EUR 200 63,221
          261,264
United Arab Emirates 0.2%
UAE International Government Bond,
Sr. Unsec’d. Notes, 144A, MTN
2.000 10/19/31   205 171,770
United Kingdom 0.7%
Isle of Man Government International Bond,          
Unsec’d. Notes 5.375 08/14/34 GBP 100 129,758
Unsec’d. Notes 5.625 03/29/30 GBP 100 132,125
     
 
United Kingdom Gilt,
Bonds(k)
4.250 12/07/46 GBP 330 407,916
          669,799
Uruguay 0.0%
Uruguay Government International Bond,
Sr. Unsec’d. Notes
4.375 10/27/27   39 38,942
     
 
Total Sovereign Bonds
(cost $26,363,494)
21,421,282
U.S. Government Agency Obligations 0.1%
Federal Home Loan Bank 3.280 03/28/29 USD 9 7,889
Tennessee Valley Authority
Sr. Unsec’d. Notes
5.625 06/07/32 GBP 100 131,128
     
 
Total U.S. Government Agency Obligations
(cost $193,564)
139,017
32

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description Interest
Rate
Maturity
Date
Principal
Amount
(000)#
Value
U.S. Treasury Obligations 5.5%
U.S. Treasury Bonds(h)(k) 1.875 % 02/15/41   2,255  $1,604,573
U.S. Treasury Bonds(k) 2.375 05/15/51   145 104,672
U.S. Treasury Bonds(k) 2.750 08/15/47   280 219,188
U.S. Treasury Bonds 3.000 02/15/47   1,650 1,354,031
U.S. Treasury Bonds 3.875 05/15/43   600 573,562
U.S. Treasury Notes(k) 1.125 02/15/31   1,490 1,218,308
     
 
Total U.S. Treasury Obligations
(cost $5,484,062)
5,074,334
    
      Shares  
Unaffiliated Exchange-Traded Funds 1.1%
iShares Floating Rate Bond ETF       13,700 696,782
iShares Preferred & Income Securities ETF       10,000 312,200
     
 
Total Unaffiliated Exchange-Traded Funds
(cost $1,011,465)
1,008,982
     
 
 
Total Long-Term Investments
(cost $100,731,857)
89,954,966
 
Short-Term Investment 1.9%
Affiliated Mutual Fund 
PGIM Core Government Money Market Fund
(cost $1,719,219)(wj)
    1,719,219 1,719,219
 
TOTAL INVESTMENTS99.8%
(cost $102,451,076)
91,674,185
Other assets in excess of liabilities(z) 0.2% 228,192
 
Net Assets 100.0% $91,902,377

Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
    
AUD—Australian Dollar
CAD—Canadian Dollar
CHF—Swiss Franc
CLP—Chilean Peso
CNH—Chinese Renminbi
COP—Colombian Peso
CZK—Czech Koruna
DKK—Danish Krone
EUR—Euro
GBP—British Pound
HUF—Hungarian Forint
33

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
IDR—Indonesian Rupiah
ILS—Israeli Shekel
JPY—Japanese Yen
KRW—South Korean Won
MXN—Mexican Peso
MYR—Malaysian Ringgit
NOK—Norwegian Krone
NZD—New Zealand Dollar
PEN—Peruvian Nuevo Sol
PLN—Polish Zloty
SEK—Swedish Krona
SGD—Singapore Dollar
THB—Thai Baht
TWD—New Taiwanese Dollar
USD—US Dollar
    
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
BARC—Barclays Bank PLC
BBR—New Zealand Bank Bill Rate
BBSW—Australian Bank Bill Swap Reference Rate
BNP—BNP Paribas S.A.
BNYM—Bank of New York Mellon
BOA—Bank of America, N.A.
BUBOR—Budapest Interbank Offered Rate
CDOR—Canadian Dollar Offered Rate
CDX—Credit Derivative Index
CIBOR—Copenhagen Interbank Offered Rate
CITI—Citibank, N.A.
CLO—Collateralized Loan Obligation
CLOIS—Sinacofi Chile Interbank Rate Average
CORRA—Canadian Overnight Repo Rate Average
DAC—Designated Activity Company
DB—Deutsche Bank AG
EMTN—Euro Medium Term Note
ETF—Exchange-Traded Fund
EURIBOR—Euro Interbank Offered Rate
EuroSTR—Euro Short-Term Rate
FHLMC—Federal Home Loan Mortgage Corporation
GMTN—Global Medium Term Note
GSI—Goldman Sachs International
HSBC—HSBC Bank PLC
IO—Interest Only (Principal amount represents notional)
iTraxx—International Credit Derivative Index
JPM—JPMorgan Chase Bank N.A.
KLIBOR—Kuala Lumpur Interbank Offered Rate
KWCDC—Korean Won Certificate of Deposit
LIBOR—London Interbank Offered Rate
LP—Limited Partnership
MPLE—Maple Bonds
MSI—Morgan Stanley & Co International PLC
MTN—Medium Term Note
34

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
NIBOR—Norwegian Interbank Offered Rate
OTC—Over-the-counter
PIK—Payment-in-Kind
PJSC—Public Joint-Stock Company
PRIBOR—Prague Interbank Offered Rate
Q—Quarterly payment frequency for swaps
REMIC—Real Estate Mortgage Investment Conduit
S—Semiannual payment frequency for swaps
SARON—Swiss Average Rate Overnight
SCB—Standard Chartered Bank
SOFR—Secured Overnight Financing Rate
SONIA—Sterling Overnight Index Average
SORA—Singapore Overnight Rate Average
SSB—State Street Bank & Trust Company
STIBOR—Stockholm Interbank Offered Rate
T—Swap payment upon termination
TAIBOR—Taiwan Interbank Offered Rate
THOR—Thai Overnight Repurchase Rate
TONAR—Tokyo Overnight Average Rate
WIBOR—Warsaw Interbank Offered Rate
    
# 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 $72,958 and 0.1% of net assets.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at July 31, 2023.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of July 31, 2023. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.
(f) Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $378,763. The aggregate value of $254,572 is 0.3% of net assets.
(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.
(h) Represents security, or a portion thereof, segregated as collateral for OTC derivatives.
(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.
(oo) Perpetual security. Maturity date represents next call date.
(r) Principal or notional amount is less than $500 par.
(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.
(wj) PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Government Money Market Fund.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
35

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Futures contracts outstanding at July 31, 2023:
Number
of
Contracts
  Type   Expiration
Date
  Current
Notional
Amount
  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
26   20 Year U.S. Treasury Bonds   Sep. 2023    $3,235,375    $(60,043)
16   30 Year U.S. Ultra Treasury Bonds   Sep. 2023   2,115,500   (54,895)
                (114,938)
Short Positions:
34   2 Year U.S. Treasury Notes   Sep. 2023   6,903,063   109,158
6   5 Year Euro-Bobl   Sep. 2023   764,526   3,869
103   5 Year U.S. Treasury Notes   Sep. 2023   11,002,492   206,192
35   10 Year Euro-Bund   Sep. 2023   5,118,172   84,806
30   10 Year U.S. Treasury Notes   Sep. 2023   3,342,188   50,005
2   10 Year U.S. Ultra Treasury Notes   Sep. 2023   233,969   5,419
32   British Pound Currency   Sep. 2023   2,568,200   (75,893)
113   Euro Currency   Sep. 2023   15,572,106   (351,662)
43   Euro Schatz Index   Sep. 2023   4,966,606   32,607
                64,501
                $(50,437)
Forward foreign currency exchange contracts outstanding at July 31, 2023:
Purchase
Contracts
  Counterparty   Notional
Amount
(000)
  Value at
Settlement
Date
  Current
Value
  Unrealized
Appreciation
  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
Australian Dollar,
Expiring 08/02/23   JPM   AUD 375    $254,642    $252,051    $   $(2,591)
British Pound,
Expiring 08/02/23   SSB   GBP 1,013   1,302,600   1,300,588     (2,012)
Euro,
Expiring 08/02/23   BNP   EUR 9,117   10,092,654   10,025,256     (67,398)
Hungarian Forint,
Expiring 10/19/23   CITI   HUF 71,672   200,035   200,165   130  
Israeli Shekel,
Expiring 09/20/23   BOA   ILS 625   170,240   170,255   15  
Japanese Yen,
Expiring 08/02/23   BARC   JPY 93,925   666,796   660,414     (6,382)
Expiring 10/19/23   BOA   JPY 21,540   153,466   153,312     (154)
Norwegian Krone,
Expiring 10/19/23   BNYM   NOK 553   54,813   54,681     (132)
Polish Zloty,
Expiring 10/19/23   HSBC   PLN 912   229,072   226,810     (2,262)
South Korean Won,
Expiring 09/20/23   BARC   KRW 60,173   45,860   47,231   1,371  
36

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2023 (continued):
Purchase
Contracts
  Counterparty   Notional
Amount
(000)
  Value at
Settlement
Date
  Current
Value
  Unrealized
Appreciation
  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
South Korean Won (cont’d.),
Expiring 09/20/23   CITI   KRW 132,582    $104,266    $104,067    $   $(199)
Swedish Krona,
Expiring 10/19/23   HSBC   SEK 258   25,008   24,634     (374)
              $13,299,452   $13,219,464   1,516   (81,504)
    
Sale
Contracts
  Counterparty   Notional
Amount
(000)
  Value at
Settlement
Date
  Current
Value
  Unrealized
Appreciation
  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
Australian Dollar,
Expiring 08/02/23   BOA   AUD 375    $250,720    $252,052    $   $(1,332)
Expiring 09/05/23   JPM   AUD 375   254,915   252,368   2,547  
British Pound,
Expiring 08/02/23   BARC   GBP 1,013   1,287,973   1,300,587     (12,614)
Expiring 09/05/23   SSB   GBP 1,013   1,302,763   1,300,803   1,960  
Canadian Dollar,
Expiring 10/19/23   HSBC   CAD 468   354,004   355,392     (1,388)
Expiring 10/19/23   HSBC   CAD 109   82,253   82,461     (208)
Chinese Renminbi,
Expiring 08/23/23   MSI   CNH 21,824   3,126,565   3,060,247   66,318  
Expiring 08/23/23   MSI   CNH 626   88,449   87,765   684  
Colombian Peso,
Expiring 09/20/23   MSI   COP 273,723   60,275   68,798     (8,523)
Euro,
Expiring 08/02/23   BNP   EUR 206   225,727   226,012     (285)
Expiring 08/02/23   BOA   EUR 199   216,049   218,647     (2,598)
Expiring 08/02/23   BOA   EUR 76   84,819   83,042   1,777  
Expiring 08/02/23   HSBC   EUR 458   515,038   503,679   11,359  
Expiring 08/02/23   SSB   EUR 7,844   8,577,465   8,625,010     (47,545)
Expiring 08/02/23   SSB   EUR 335   366,759   368,864     (2,105)
Expiring 09/05/23   BNP   EUR 9,117   10,109,201   10,042,888   66,313  
Expiring 10/19/23   BOA   EUR 188   207,818   207,269   549  
Indonesian Rupiah,
Expiring 09/20/23   MSI   IDR 1,526,380   102,202   101,003   1,199  
Israeli Shekel,
Expiring 09/20/23   CITI   ILS 791   217,478   215,668   1,810  
Japanese Yen,
Expiring 08/02/23   BOA   JPY 85,945   602,250   604,305     (2,055)
Expiring 08/02/23   MSI   JPY 7,980   57,583   56,109   1,474  
Expiring 09/05/23   BARC   JPY 93,925   670,324   664,158   6,166  
37

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2023 (continued):
Sale
Contracts
  Counterparty   Notional
Amount
(000)
  Value at
Settlement
Date
  Current
Value
  Unrealized
Appreciation
  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Mexican Peso,
Expiring 09/20/23   BARC   MXN 3,835    $215,915    $226,857    $   $(10,942)
Singapore Dollar,
Expiring 09/20/23   GSI   SGD 41   30,176   30,543     (367)
Swiss Franc,
Expiring 10/19/23   BNP   CHF 132   154,228   153,211   1,017  
              $29,160,949   $29,087,738   163,173   (89,962)
                      $164,689   $(171,466)
Credit default swap agreements outstanding at July 31, 2023:
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):
Gazprom PAO   06/20/24   1.000%(Q)     134    $27,380    $23,826    $3,554   HSBC
Gazprom PAO   06/20/24   1.000%(Q)     121   24,724   34,471   (9,747)   BARC
Kingdom of Morocco   12/20/27   1.000%(Q)     115   879   2,716   (1,837)   BNP
Republic of Italy   12/20/27   1.000%(Q)   EUR 70   (1,495)   (2,328)   833   BARC
Republic of South Africa   12/20/28   1.000%(Q)     400   26,755   41,246   (14,491)   MSI
                    $78,243   $99,931   $(21,688)    
    
Reference
Entity/
Obligation
  Termination
Date
  Fixed
Rate
  Notional
Amount
(000)#(3)
  Implied
Credit
Spread at
July 31,
2023(4)
  Fair
Value
  Upfront
Premiums
Paid
(Received)
  Unrealized
Appreciation
(Depreciation)
  Counterparty
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):
DP World PLC   12/20/24   1.000%(Q)     100   1.004%    $111    $131    $(20)   BARC
Emirate of Abu Dhabi   06/20/24   1.000%(Q)     110   0.078%   1,015   845   170   BNP
Generalitat de Catalunya   12/20/25   1.000%(Q)     100   *   1,507   (456)   1,963   DB
Halliburton Co.   12/20/26   1.000%(Q)     50   0.443%   931   325   606   GSI
Hellenic Republic   12/20/31   1.000%(Q)     140   1.156%   (1,325)   (3,585)   2,260   BARC
International Bank for Reconstruction & Development   03/20/24   0.250%(Q)     740   0.277%   91   465   (374)   BOA
38

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Credit default swap agreements outstanding at July 31, 2023 (continued):
Reference
Entity/
Obligation
  Termination
Date
  Fixed
Rate
  Notional
Amount
(000)#(3)
  Implied
Credit
Spread at
July 31,
2023(4)
  Fair
Value
  Upfront
Premiums
Paid
(Received)
  Unrealized
Appreciation
(Depreciation)
  Counterparty
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont’d.):
Kingdom of Spain   06/20/25   1.000%(Q)     1,000   0.199%    $15,664    $(3,483)    $19,147   BOA
Kingdom of Spain   06/20/25   1.000%(Q)     170   0.199%   2,663   (618)   3,281   BOA
Kingdom of Spain   06/20/25   1.000%(Q)     15   0.199%   235   74   161   BARC
Republic of Estonia   12/20/26   1.000%(Q)     50   0.658%   593   321   272   JPM
Republic of Italy   06/20/30   1.000%(Q)     100   1.144%   (716)   (1,982)   1,266   BARC
Republic of Panama   12/20/26   1.000%(Q)     45   0.631%   572   88   484   CITI
Republic of Poland   06/20/24   1.000%(Q)     145   0.198%   1,185   100   1,085   BNP
Republic of South Africa   12/20/23   1.000%(Q)     300   0.314%   1,147   (1,248)   2,395   BOA
Verizon Communications, Inc.   06/20/26   1.000%(Q)     170   0.786%   1,174   2,060   (886)   GSI
                      $24,847   $(6,963)   $31,810    
    
Reference
Entity/
Obligation
Termination
Date
  Fixed
Rate
  Notional
Amount
(000)#(3)
  Implied Credit
Spread at
July 31,
2023(4)
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):
CDX.NA.HY.40.V1 06/20/28   5.000%(Q)     8,775   4.094%    $179,547    $359,484    $179,937
iTraxx.XO.39.V1 06/20/28   5.000%(Q)   EUR 1,655   3.802%   (36,642)   96,506   133,148
                      $142,905   $455,990   $313,085
The Fund 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 Fund 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 Fund 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 Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of
39

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
  that particular swap agreement, the Fund 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 Fund 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 Fund 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 Fund 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.
    
Currency swap agreement outstanding at July 31, 2023:
Notional
Amount
(000)#
  Fund
Receives
  Notional
Amount
(000)#
  Fund
Pays
  Counterparty   Termination
Date
  Fair
Value
  Upfront
Premiums
Paid
(Received)
  Unrealized
Appreciation
(Depreciation)
OTC Currency Swap Agreement:
IDR 1,400,000   8.22%(S)     97   6 Month LIBOR(S)/ 5.861%   CITI   11/29/23    $(3,076)    $—   $(3,076)
Interest rate swap agreements outstanding at July 31, 2023:
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements:
AUD 970   02/19/31   1.398%(S)   6 Month BBSW(2)(S)/ 4.665%    $(2,503)    $(130,674)    $(128,171)
AUD 225   12/03/33   2.800%(S)   6 Month BBSW(2)(S)/ 4.665%   (19,316)   (20,999)   (1,683)
40

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2023 (continued):
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
AUD 85   12/03/38   2.900%(S)   6 Month BBSW(2)(S)/ 4.665%    $(9,720)    $(10,549)    $(829)
CAD 1,230   04/03/25   0.970%(S)   3 Month CDOR(2)(S)/ 5.500%   (1,981)   (77,677)   (75,696)
CAD 455   12/03/27   3.650%(S)   1 Day CORRA(2)(S)/ 5.000%   4,196   (6,810)   (11,006)
CAD 80   12/03/28   2.600%(S)   3 Month CDOR(2)(S)/ 5.500%   438   (4,997)   (5,435)
CAD 340   12/03/29   2.650%(S)   3 Month CDOR(2)(S)/ 5.500%   (13,339)   (22,426)   (9,087)
CAD 70   12/03/29   3.500%(S)   1 Day CORRA(2)(S)/ 5.000%   907   (1,059)   (1,966)
CAD 165   12/03/30   3.500%(S)   1 Day CORRA(2)(S)/ 5.000%   (855)   (2,355)   (1,500)
CAD 60   12/03/32   2.700%(S)   3 Month CDOR(2)(S)/ 5.500%   (2,561)   (4,861)   (2,300)
CAD 50   01/09/38   2.720%(S)   3 Month CDOR(2)(S)/ 5.500%   (1)   (5,559)   (5,558)
CAD 120   12/03/40   2.800%(S)   3 Month CDOR(2)(S)/ 5.500%   15,832   (14,522)   (30,354)
CAD 50   05/30/47   2.240%(S)   3 Month CDOR(2)(S)/ 5.500%   (1,389)   (10,246)   (8,857)
CAD 295   12/03/51   2.800%(S)   3 Month CDOR(2)(S)/ 5.500%   (28,634)   (40,314)   (11,680)
CAD 45   12/03/53   3.300%(S)   1 Day CORRA(2)(S)/ 5.000%   (55)   (893)   (838)
CHF 70   04/03/28   0.410%(A)   1 Day SARON(2)(S)/ 1.702%   (219)   (5,670)   (5,451)
CHF 130   01/31/29   0.260%(A)   1 Day SARON(2)(S)/ 1.702%   (481)   (12,387)   (11,906)
CHF 40   04/03/33   0.687%(A)   1 Day SARON(2)(S)/ 1.702%   (214)   (4,984)   (4,770)
CHF 100   12/15/41   0.025%(A)   1 Day SARON(2)(A)/ 1.702%   (19,952)   (33,274)   (13,322)
CLP 30,200   07/12/29   3.135%(S)   1 Day CLOIS(2)(S)/ 10.250%     (3,678)   (3,678)
CLP 190,000   02/06/33   5.200%(S)   1 Day CLOIS(1)(S)/ 10.250%     4,403   4,403
CLP 76,000   02/23/33   5.570%(S)   1 Day CLOIS(1)(S)/ 10.250%     (1,224)   (1,224)
CLP 157,000   02/27/33   5.550%(S)   1 Day CLOIS(1)(S)/ 10.250%     (2,354)   (2,354)
41

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2023 (continued):
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
CNH 700   08/15/23   3.115%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%    $3    $270    $267
CNH 700   03/13/24   2.945%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (1)   683   684
CNH 1,400   04/01/24   2.923%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%     1,355   1,355
CNH 1,440   06/03/24   2.975%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%     1,940   1,940
CNH 2,220   06/20/24   2.900%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (3)   2,700   2,703
CNH 1,500   09/03/24   2.860%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (1)   2,192   2,193
CNH 1,500   10/10/24   2.860%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (1)   2,148   2,149
CNH 1,680   11/01/24   3.120%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (5)   3,775   3,780
CNH 1,200   02/04/25   2.600%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%     1,584   1,584
CNH 2,800   03/06/25   2.425%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   1   2,374   2,373
CNH 5,000   03/12/25   2.400%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (2)   3,873   3,875
CNH 3,200   07/13/25   2.653%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (4)   4,777   4,781
CNH 5,910   11/02/25   2.588%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   7   9,035   9,028
CNH 5,280   04/12/26   2.810%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (11)   11,865   11,876
42

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2023 (continued):
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
CNH 7,230   08/04/27   2.388%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%    $   $967    $967
CNH 2,000   01/09/28   2.757%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   (83)   4,002   4,085
CNH 4,750   03/01/28   2.955%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%     15,679   15,679
CNH 1,925   04/26/28   2.790%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%     4,032   4,032
CNH 5,740   05/11/28   2.600%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   5,589   6,068   479
CNH 5,400   06/01/28   2.473%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%     750   750
CZK 5,145   03/31/30   0.710%(A)   6 Month PRIBOR(2)(S)/ 7.100%     (52,118)   (52,118)
DKK 500   04/08/32   1.581%(A)   6 Month CIBOR(2)(S)/ 4.010%   (3,248)   (9,629)   (6,381)
EUR 5,485   11/23/24   (0.046)%(A)   6 Month EURIBOR(2)(S)/ 3.929%     (228,797)   (228,797)
EUR 3,245   12/02/24   (0.285)%(A)   6 Month EURIBOR(2)(S)/ 3.929%     (219,650)   (219,650)
EUR 200   05/11/25   0.100%(A)   1 Day EuroSTR(1)(A)/ 3.392%   692   14,600   13,908
EUR 350   04/27/30   (0.016)%(A)   6 Month EURIBOR(2)(S)/ 3.929%     (75,813)   (75,813)
EUR 342   08/15/30   (0.191)%(A)   1 Day EuroSTR(2)(A)/ 3.392%   (133)   (81,151)   (81,018)
EUR 100   05/11/31   0.750%(A)   1 Day EuroSTR(1)(A)/ 3.392%   683   16,736   16,053
EUR 235   10/30/32   1.302%(A)   6 Month EURIBOR(2)(S)/ 3.929%   4,231   (36,161)   (40,392)
43

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2023 (continued):
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
EUR 820   03/20/33   2.996%(A)   6 Month EURIBOR(2)(S)/ 3.929%    $   $(4,616)    $(4,616)
EUR 430   05/11/33   1.000%(A)   6 Month EURIBOR(2)(S)/ 3.929%   (7,506)   (84,354)   (76,848)
EUR 590   03/20/38   2.982%(A)   6 Month EURIBOR(1)(S)/ 3.929%     6,291   6,291
EUR 150   11/24/41   0.565%(A)   6 Month EURIBOR(1)(S)/ 3.929%     26,162   26,162
EUR 150   11/24/41   0.600%(A)   3 Month EURIBOR(2)(Q)/ 3.715%     (27,349)   (27,349)
EUR 364   11/25/41   0.629%(A)   6 Month EURIBOR(1)(S)/ 3.929%     61,739   61,739
EUR 364   11/25/41   0.663%(A)   3 Month EURIBOR(2)(Q)/ 3.715%     (64,660)   (64,660)
EUR 570   03/22/42   1.257%(A)   6 Month EURIBOR(1)(S)/ 3.929%     68,792   68,792
EUR 570   03/22/42   1.310%(A)   3 Month EURIBOR(2)(Q)/ 3.715%     (72,735)   (72,735)
EUR 400   02/24/43   2.910%(A)   6 Month EURIBOR(1)(S)/ 3.929%   332   4,315   3,983
EUR 400   02/24/43   2.960%(A)   3 Month EURIBOR(2)(Q)/ 3.715%   (205)   (1,188)   (983)
EUR 120   05/11/49   1.450%(A)   6 Month EURIBOR(2)(S)/ 3.929%   5,452   (32,431)   (37,883)
GBP 35   05/08/30   1.100%(A)   1 Day SONIA(1)(A)/ 4.930%   5,939   9,094   3,155
GBP 155   05/08/37   1.200%(A)   1 Day SONIA(2)(A)/ 4.930%   (49,436)   (61,108)   (11,672)
GBP 160   05/08/38   1.200%(A)   1 Day SONIA(2)(A)/ 4.930%   (53,505)   (65,992)   (12,487)
44

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2023 (continued):
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
GBP 225   05/08/46   1.250%(A)   1 Day SONIA(2)(A)/ 4.930%    $46,975    $(117,019)    $(163,994)
GBP 170   05/08/47   1.250%(A)   1 Day SONIA(2)(A)/ 4.930%   (33,201)   (90,479)   (57,278)
GBP 90   05/08/48   1.250%(A)   1 Day SONIA(2)(A)/ 4.930%   (42,358)   (48,796)   (6,438)
GBP 35   09/03/50   0.328%(A)   1 Day SONIA(2)(A)/ 4.930%     (27,466)   (27,466)
GBP 60   05/08/52   1.250%(A)   1 Day SONIA(2)(A)/ 4.930%   (3,635)   (34,817)   (31,182)
HUF 90,865   06/12/28   3.750%(A)   6 Month BUBOR(2)(S)/ 13.810%     (44,691)   (44,691)
JPY 130,000   03/06/25   0.197%(A)   1 Day TONAR(2)(A)/ (0.061)%     2,864   2,864
JPY 179,000   04/08/26   0.018%(S)   1 Day TONAR(2)(S)/ (0.061)%   8   (7,701)   (7,709)
JPY 59,000   12/18/27   0.290%(S)   1 Day TONAR(2)(S)/ (0.061)%   (491)   (1,878)   (1,387)
JPY 110,000   07/08/28   (0.050)%(A)   1 Day TONAR(2)(A)/ (0.061)%   (13,074)   (16,829)   (3,755)
JPY 119,700   07/31/28   0.268%(A)   1 Day TONAR(2)(A)/ (0.061)%     (5,477)   (5,477)
JPY 163,000   11/12/28   0.011%(S)   1 Day TONAR(2)(S)/ (0.061)%   5   (28,423)   (28,428)
JPY 25,000   07/08/29   (0.050)%(A)   1 Day TONAR(2)(A)/ (0.061)%   (3,344)   (5,551)   (2,207)
JPY 85,000   07/08/30   (0.050)%(A)   1 Day TONAR(2)(A)/ (0.061)%   (20,608)   (25,828)   (5,220)
JPY 60,000   07/08/31   0.000%(A)   1 Day TONAR(2)(A)/ (0.061)%   (17,531)   (21,849)   (4,318)
JPY 130,000   07/08/32   0.050%(A)   1 Day TONAR(2)(A)/ (0.061)%   (9,760)   (55,061)   (45,301)
JPY 53,000   12/18/32   0.516%(S)   1 Day TONAR(2)(S)/ (0.061)%   (937)   (10,489)   (9,552)
JPY 111,500   12/18/37   0.715%(S)   1 Day TONAR(2)(S)/ (0.061)%   (2,901)   (39,878)   (36,977)
JPY 57,555   01/04/38   0.757%(S)   1 Day TONAR(2)(S)/ (0.061)%   (1,448)   (18,572)   (17,124)
JPY 11,780   12/03/38   0.600%(S)   1 Day TONAR(2)(S)/ (0.061)%   (6)   (6,304)   (6,298)
JPY 10,000   10/04/39   0.203%(S)   1 Day TONAR(2)(S)/ (0.061)%   (25)   (10,227)   (10,202)
45

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2023 (continued):
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
JPY 21,500   12/03/39   0.650%(S)   1 Day TONAR(2)(S)/ (0.061)%    $(12)    $(11,947)    $(11,935)
JPY 20,000   02/06/40   0.223%(S)   1 Day TONAR(2)(S)/ (0.061)%   (106)   (20,649)   (20,543)
JPY 25,000   07/08/42   0.300%(A)   1 Day TONAR(2)(A)/ (0.061)%   (18,324)   (27,671)   (9,347)
JPY 5,000   07/04/43   0.763%(S)   1 Day TONAR(2)(S)/ (0.061)%   (130)   (3,342)   (3,212)
JPY 30,000   07/08/43   0.300%(A)   1 Day TONAR(2)(A)/ (0.061)%   (26,933)   (35,639)   (8,706)
JPY 38,600   07/08/45   0.350%(A)   1 Day TONAR(2)(A)/ (0.061)%   (42,548)   (48,816)   (6,268)
JPY 91,700   12/18/47   0.918%(S)   1 Day TONAR(2)(S)/ (0.061)%   (3,204)   (58,682)   (55,478)
JPY 45,000   07/08/48   0.450%(A)   1 Day TONAR(2)(A)/ (0.061)%   (50,691)   (58,260)   (7,569)
JPY 30,000   07/08/52   0.450%(A)   1 Day TONAR(2)(A)/ (0.061)%   (25,452)   (44,544)   (19,092)
JPY 22,800   07/31/53   1.102%(A)   1 Day TONAR(1)(A)/ (0.061)%     8,498   8,498
KRW 761,000   08/04/24   3.145%(Q)   3 Month KWCDC(2)(Q)/ 3.740%     (4,710)   (4,710)
KRW 230,000   04/19/28   3.135%(Q)   3 Month KWCDC(2)(Q)/ 3.740%     (3,534)   (3,534)
KRW 979,000   09/10/28   2.043%(Q)   3 Month KWCDC(2)(Q)/ 3.740%   (21,131)   (57,131)   (36,000)
KRW 118,000   02/13/29   1.780%(Q)   3 Month KWCDC(2)(Q)/ 3.740%     (8,720)   (8,720)
KRW 33,500   04/17/29   1.740%(Q)   3 Month KWCDC(2)(Q)/ 3.740%     (2,512)   (2,512)
KRW 470,000   04/27/30   1.065%(Q)   3 Month KWCDC(2)(Q)/ 3.740%   (9,270)   (55,444)   (46,174)
KRW 261,780   03/10/33   3.150%(Q)   3 Month KWCDC(2)(Q)/ 3.740%   (4,221)   (6,519)   (2,298)
46

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2023 (continued):
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Value at
Trade Date
  Value at
July 31,
2023
  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
NOK 1,680   03/15/27   2.103%(A)   6 Month NIBOR(2)(S)/ 5.070%    $3,055    $(14,308)    $(17,363)
NZD 100   11/05/29   1.393%(S)   3 Month BBR(2)(Q)/ 5.665%     (11,564)   (11,564)
PLN 890   07/11/28   2.935%(A)   6 Month WIBOR(2)(S)/ 6.600%   15,681   (16,361)   (32,042)
PLN 760   08/30/31   1.765%(A)   6 Month WIBOR(2)(S)/ 6.600%     (37,033)   (37,033)
SEK 2,200   11/05/29   0.457%(A)   3 Month STIBOR(2)(Q)/ 3.923%   (3,236)   (33,158)   (29,922)
SGD 165   07/29/31   1.120%(S)   1 Day SORA(2)(S)/ 3.550%   923   (17,192)   (18,115)
THB 6,000   07/04/24   1.590%(Q)   1 Day THOR(2)(Q)/ 1.986%     (1,233)   (1,233)
THB 3,000   07/03/30   1.028%(Q)   1 Day THOR(2)(Q)/ 1.986%     (8,880)   (8,880)
TWD 14,600   02/17/28   1.390%(Q)   3 Month TAIBOR(1)(Q)/ 1.494%     1,990   1,990
TWD 8,480   07/21/33   1.410%(Q)   3 Month TAIBOR(1)(Q)/ 1.494%     1,547   1,547
  7,960   12/23/23   4.758%(T)   1 Day SOFR(2)(T)/ 5.310%     (26,121)   (26,121)
  12,055   02/21/24   5.170%(T)   1 Day SOFR(2)(T)/ 5.310%     (11,741)   (11,741)
  3,760   07/10/24   5.435%(T)   1 Day SOFR(2)(T)/ 5.310%     1,526   1,526
  10,265   07/31/24   5.406%(T)   1 Day SOFR(2)(T)/ 5.310%     2,761   2,761
  3,604   03/08/25   4.919%(A)   1 Day SOFR(2)(A)/ 5.310%     (8,126)   (8,126)
  10,150   04/22/25   3.595%(T)   1 Day SOFR(1)(T)/ 5.310%   (15,992)   93,439   109,431
  493   08/15/28   1.220%(A)   1 Day SOFR(1)(A)/ 5.310%     75,512   75,512
                    $(474,984)   $(2,306,098)   $(1,831,114)
    
47

PGIM Global Total Return (USD Hedged) Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2023 (continued):
Notional
Amount
(000)#
  Termination
Date
  Fixed
Rate
  Floating
Rate
  Fair
Value
  Upfront
Premiums
Paid(Received)
  Unrealized
Appreciation
(Depreciation)
  Counterparty
OTC Interest Rate Swap Agreements:
CNH 2,100   07/31/30   2.515%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%    $(885)    $   $(885)   MSI
CNH 3,000   10/14/31   2.675%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.970%   2,452     2,452   SCB
MYR 450   04/09/26   2.625%(Q)   3 Month KLIBOR(2)(Q)/ 3.510%   (2,729)   (8)   (2,721)   MSI
MYR 900   08/12/26   2.605%(Q)   3 Month KLIBOR(2)(Q)/ 3.510%   (6,522)   (8)   (6,514)   HSBC
MYR 200   07/11/29   3.528%(Q)   3 Month KLIBOR(2)(Q)/ 3.510%   (619)     (619)   MSI
MYR 200   04/07/32   3.870%(Q)   3 Month KLIBOR(2)(Q)/ 3.510%   (109)   (2)   (107)   CITI
MYR 230   07/12/32   3.650%(Q)   3 Month KLIBOR(2)(Q)/ 3.510%   (1,071)   (1)   (1,070)   GSI
                  $(9,483)   $(19)   $(9,464)    
    
(1) The Fund pays the fixed rate and receives the floating rate.
(2) The Fund pays the floating rate and receives the fixed rate.
Other information regarding the Fund is available in the Funds’ most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
48