PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited)
Description | Shares | Value | |||
Long-Term Investments 99.9% | |||||
Common Stocks 99.6% | |||||
Aerospace & Defense 0.8% | |||||
Textron, Inc. | 17,700 | $1,376,529 | |||
TransDigm Group, Inc. | 300 | 269,916 | |||
1,646,445 | |||||
Automobile Components 0.7% | |||||
BorgWarner, Inc. | 28,400 | 1,320,600 | |||
Lear Corp. | 400 | 61,904 | |||
1,382,504 | |||||
Automobiles 0.9% | |||||
Harley-Davidson, Inc. | 13,900 | 536,679 | |||
Thor Industries, Inc.(a) | 11,100 | 1,281,939 | |||
1,818,618 | |||||
Banks 4.2% | |||||
Citizens Financial Group, Inc. | 31,200 | 1,006,512 | |||
Fifth Third Bancorp | 47,833 | 1,391,940 | |||
First Citizens BancShares, Inc. (Class A Stock) | 300 | 429,390 | |||
Huntington Bancshares, Inc. | 87,100 | 1,066,104 | |||
KeyCorp | 103,400 | 1,272,854 | |||
M&T Bank Corp. | 8,600 | 1,202,796 | |||
New York Community Bancorp, Inc. | 38,000 | 527,060 | |||
Regions Financial Corp. | 54,400 | 1,108,128 | |||
Webster Financial Corp. | 6,500 | 307,580 | |||
8,312,364 | |||||
Beverages 0.7% | |||||
Molson Coors Beverage Co. (Class B Stock) | 20,200 | 1,409,354 | |||
Biotechnology 0.4% | |||||
Biogen, Inc.* | 1,900 | 513,361 | |||
United Therapeutics Corp.* | 900 | 218,448 | |||
731,809 | |||||
Broadline Retail 0.7% | |||||
Kohl’s Corp. | 23,600 | 671,420 | |||
Macy’s, Inc. | 39,300 | 651,987 | |||
1,323,407 |
1
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Building Products 1.8% | |||||
Builders FirstSource, Inc.* | 11,000 | $1,588,730 | |||
Carrier Global Corp. | 7,600 | 452,580 | |||
Owens Corning | 10,400 | 1,455,896 | |||
Trane Technologies PLC | 300 | 59,832 | |||
3,557,038 | |||||
Capital Markets 3.9% | |||||
Bank of New York Mellon Corp. (The) | 44,800 | 2,032,128 | |||
Carlyle Group, Inc. (The) | 11,900 | 424,235 | |||
Franklin Resources, Inc.(a) | 44,500 | 1,301,180 | |||
Invesco Ltd. | 69,600 | 1,169,280 | |||
Janus Henderson Group PLC | 10,800 | 316,980 | |||
Jefferies Financial Group, Inc. | 21,300 | 783,627 | |||
State Street Corp. | 23,100 | 1,673,364 | |||
7,700,794 | |||||
Chemicals 5.9% | |||||
Albemarle Corp. | 4,800 | 1,018,944 | |||
Celanese Corp. | 10,000 | 1,253,900 | |||
CF Industries Holdings, Inc. | 8,800 | 722,304 | |||
Corteva, Inc. | 5,800 | 327,294 | |||
DuPont de Nemours, Inc. | 26,300 | 2,041,669 | |||
Eastman Chemical Co. | 3,400 | 290,972 | |||
Huntsman Corp. | 12,100 | 360,217 | |||
International Flavors & Fragrances, Inc. | 15,700 | 1,328,377 | |||
LyondellBasell Industries NV (Class A Stock) | 18,400 | 1,819,024 | |||
Mosaic Co. (The) | 35,900 | 1,463,284 | |||
Westlake Corp. | 9,000 | 1,237,500 | |||
11,863,485 | |||||
Commercial Services & Supplies 0.0% | |||||
Republic Services, Inc. | 400 | 60,444 | |||
Communications Equipment 0.4% | |||||
Viasat, Inc.*(a) | 23,100 | 714,714 | |||
Construction & Engineering 0.6% | |||||
MDU Resources Group, Inc. | 51,300 | 1,134,756 | |||
Consumer Finance 1.8% | |||||
Ally Financial, Inc. | 44,259 | 1,351,670 |
2
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Consumer Finance (cont’d.) | |||||
Discover Financial Services | 7,900 | $833,845 | |||
Synchrony Financial | 41,900 | 1,447,226 | |||
3,632,741 | |||||
Consumer Staples Distribution & Retail 1.7% | |||||
Kroger Co. (The) | 37,800 | 1,838,592 | |||
Walgreens Boots Alliance, Inc. | 51,500 | 1,543,455 | |||
3,382,047 | |||||
Containers & Packaging 1.4% | |||||
International Paper Co. | 40,600 | 1,464,036 | |||
Westrock Co. | 40,800 | 1,358,232 | |||
2,822,268 | |||||
Distributors 0.3% | |||||
LKQ Corp. | 10,500 | 575,295 | |||
Diversified REITs 0.3% | |||||
WP Carey, Inc. | 8,500 | 574,005 | |||
Diversified Telecommunication Services 0.6% | |||||
Frontier Communications Parent, Inc.* | 66,100 | 1,203,681 | |||
Electric Utilities 4.1% | |||||
Alliant Energy Corp. | 1,200 | 64,488 | |||
Avangrid, Inc.(a) | 28,300 | 1,049,364 | |||
Edison International | �� | 16,400 | 1,180,144 | ||
Entergy Corp. | 5,100 | 523,770 | |||
Evergy, Inc. | 23,200 | 1,391,304 | |||
Eversource Energy | 9,000 | 650,970 | |||
FirstEnergy Corp. | 7,100 | 279,669 | |||
Pinnacle West Capital Corp. | 8,700 | 720,534 | |||
PPL Corp. | 58,200 | 1,602,246 | |||
Xcel Energy, Inc. | 12,100 | 759,033 | |||
8,221,522 | |||||
Electrical Equipment 0.6% | |||||
AMETEK, Inc. | 1,200 | 190,320 | |||
Regal Rexnord Corp. | 6,800 | 1,062,024 | |||
1,252,344 |
3
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Electronic Equipment, Instruments & Components 2.8% | |||||
Arrow Electronics, Inc.* | 8,900 | $1,268,606 | |||
Avnet, Inc. | 23,900 | 1,159,150 | |||
Coherent Corp.* | 18,600 | 880,896 | |||
Corning, Inc. | 25,700 | 872,258 | |||
TD SYNNEX Corp. | 12,000 | 1,184,520 | |||
Teledyne Technologies, Inc.* | 500 | 192,265 | |||
5,557,695 | |||||
Energy Equipment & Services 0.2% | |||||
Baker Hughes Co. | 13,900 | 497,481 | |||
Financial Services 3.0% | |||||
Corebridge Financial, Inc. | 57,700 | 1,079,567 | |||
Fidelity National Information Services, Inc. | 31,300 | 1,889,894 | |||
Global Payments, Inc. | 16,600 | 1,830,150 | |||
MGIC Investment Corp. | 72,200 | 1,208,628 | |||
6,008,239 | |||||
Food Products 1.9% | |||||
Bunge Ltd. | 13,900 | 1,510,513 | |||
Conagra Brands, Inc. | 11,900 | 390,439 | |||
Darling Ingredients, Inc.* | 1,600 | 110,800 | |||
J.M. Smucker Co. (The) | 1,100 | 165,715 | |||
Tyson Foods, Inc. (Class A Stock) | 27,300 | 1,521,156 | |||
3,698,623 | |||||
Gas Utilities 1.3% | |||||
Atmos Energy Corp. | 7,400 | 900,654 | |||
National Fuel Gas Co. | 8,500 | 451,435 | |||
UGI Corp. | 42,300 | 1,141,677 | |||
2,493,766 | |||||
Ground Transportation 2.1% | |||||
Knight-Swift Transportation Holdings, Inc. | 22,800 | 1,385,100 | |||
Ryder System, Inc. | 13,041 | 1,332,138 | |||
Schneider National, Inc. (Class B Stock) | 8,500 | 261,885 | |||
U-Haul Holding Co. (XLON) | 2,400 | 146,064 | |||
U-Haul Holding Co. (NYSE) | 17,300 | 989,733 | |||
4,114,920 |
4
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Health Care Equipment & Supplies 0.9% | |||||
Enovis Corp.* | 3,133 | $200,199 | |||
QuidelOrtho Corp.*(a) | 12,900 | 1,126,944 | |||
Zimmer Biomet Holdings, Inc. | 4,100 | 566,415 | |||
1,893,558 | |||||
Health Care Providers & Services 1.5% | |||||
Laboratory Corp. of America Holdings | 6,000 | 1,283,580 | |||
Premier, Inc. (Class A Stock) | 20,000 | 555,000 | |||
Quest Diagnostics, Inc. | 4,900 | 662,529 | |||
Universal Health Services, Inc. (Class B Stock) | 3,600 | 500,256 | |||
3,001,365 | |||||
Health Care REITs 1.8% | |||||
Healthcare Realty Trust, Inc. | 63,800 | 1,246,014 | |||
Healthpeak Properties, Inc. | 12,200 | 266,326 | |||
Medical Properties Trust, Inc.(a) | 119,969 | 1,210,487 | |||
Ventas, Inc. | 3,000 | 145,560 | |||
Welltower, Inc. | 9,700 | 796,855 | |||
3,665,242 | |||||
Hotel & Resort REITs 1.3% | |||||
Host Hotels & Resorts, Inc. | 79,200 | 1,457,280 | |||
Park Hotels & Resorts, Inc. | 82,300 | 1,121,749 | |||
2,579,029 | |||||
Hotels, Restaurants & Leisure 0.6% | |||||
Penn Entertainment, Inc.*(a) | 42,200 | 1,109,438 | |||
Household Durables 4.1% | |||||
D.R. Horton, Inc. | 13,500 | 1,714,770 | |||
Lennar Corp. (Class A Stock) | 15,063 | 1,910,440 | |||
Mohawk Industries, Inc.* | 11,039 | 1,173,887 | |||
Newell Brands, Inc. | 46,800 | 522,288 | |||
PulteGroup, Inc. | 18,447 | 1,556,743 | |||
Toll Brothers, Inc. | 15,533 | 1,247,766 | |||
8,125,894 | |||||
Independent Power & Renewable Electricity Producers 0.4% | |||||
Clearway Energy, Inc. (Class C Stock) | 32,300 | 853,043 |
5
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Industrial REITs 0.1% | |||||
Rexford Industrial Realty, Inc. | 2,100 | $115,689 | |||
Insurance 4.7% | |||||
Aflac, Inc. | 2,300 | 166,382 | |||
Arthur J. Gallagher & Co. | 900 | 193,320 | |||
Axis Capital Holdings Ltd. | 19,500 | 1,074,840 | |||
Brighthouse Financial, Inc.* | 13,900 | 724,607 | |||
CNA Financial Corp. | 26,100 | 1,022,076 | |||
Fidelity National Financial, Inc. | 7,100 | 278,107 | |||
First American Financial Corp. | 4,600 | 291,548 | |||
Hartford Financial Services Group, Inc. (The) | 16,800 | 1,207,584 | |||
Loews Corp. | 22,700 | 1,422,155 | |||
Markel Group, Inc.* | 250 | 362,428 | |||
Old Republic International Corp. | 47,100 | 1,298,547 | |||
Reinsurance Group of America, Inc. | 800 | 112,280 | |||
Unum Group | 27,200 | 1,322,192 | |||
9,476,066 | |||||
IT Services 0.7% | |||||
Cognizant Technology Solutions Corp. (Class A Stock) | 10,700 | 706,521 | |||
Twilio, Inc. (Class A Stock)* | 10,900 | 719,727 | |||
1,426,248 | |||||
Machinery 3.5% | |||||
AGCO Corp. | 8,200 | 1,091,420 | |||
CNH Industrial NV (United Kingdom) | 2,600 | 37,336 | |||
Cummins, Inc. | 700 | 182,560 | |||
Fortive Corp. | 10,200 | 799,170 | |||
Gates Industrial Corp. PLC* | 81,500 | 1,110,030 | |||
Ingersoll Rand, Inc. | 11,900 | 776,713 | |||
Otis Worldwide Corp. | 1,300 | 118,248 | |||
PACCAR, Inc. | 19,350 | 1,666,616 | |||
Parker-Hannifin Corp. | 1,500 | 615,015 | |||
Westinghouse Air Brake Technologies Corp. | 5,200 | 615,888 | |||
7,012,996 | |||||
Media 2.8% | |||||
DISH Network Corp. (Class A Stock)* | 59,700 | 473,421 | |||
Fox Corp. (Class A Stock) | 15,100 | 505,095 | |||
Fox Corp. (Class B Stock) | 14,700 | 461,727 | |||
Liberty Broadband Corp. (Class C Stock)* | 15,000 | 1,336,950 | |||
Liberty Media Corp.-Liberty SiriusXM (Class A Stock)* | 7,900 | 250,430 |
6
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Media (cont’d.) | |||||
Liberty Media Corp.-Liberty SiriusXM (Class C Stock)* | 10,500 | $334,215 | |||
News Corp. (Class A Stock) | 66,400 | 1,316,048 | |||
Nexstar Media Group, Inc. | 300 | 56,016 | |||
Paramount Global (Class B Stock) | 47,800 | 766,234 | |||
5,500,136 | |||||
Metals & Mining 4.0% | |||||
Cleveland-Cliffs, Inc.* | 75,300 | 1,329,045 | |||
Nucor Corp. | 13,000 | 2,237,171 | |||
Reliance Steel & Aluminum Co. | 5,290 | 1,549,229 | |||
SSR Mining, Inc. (Canada) | 12,500 | 182,000 | |||
Steel Dynamics, Inc. | 13,200 | 1,406,856 | |||
United States Steel Corp. | 48,700 | 1,241,850 | |||
7,946,151 | |||||
Mortgage Real Estate Investment Trusts (REITs) 2.3% | |||||
AGNC Investment Corp. | 115,200 | 1,173,888 | |||
Annaly Capital Management, Inc. | 63,231 | 1,270,311 | |||
Rithm Capital Corp. | 118,200 | 1,191,456 | |||
Starwood Property Trust, Inc. | 42,100 | 873,154 | |||
4,508,809 | |||||
Multi-Utilities 2.0% | |||||
Ameren Corp. | 4,200 | 359,814 | |||
CenterPoint Energy, Inc. | 5,700 | 171,513 | |||
CMS Energy Corp. | 3,300 | 201,531 | |||
Consolidated Edison, Inc. | 19,233 | 1,824,442 | |||
DTE Energy Co. | 2,700 | 308,610 | |||
Public Service Enterprise Group, Inc. | 10,100 | 637,512 | |||
WEC Energy Group, Inc. | 6,200 | 557,132 | |||
4,060,554 | |||||
Office REITs 0.6% | |||||
Alexandria Real Estate Equities, Inc. | 2,800 | 351,904 | |||
Cousins Properties, Inc. | 8,100 | 197,883 | |||
Highwoods Properties, Inc. | 7,800 | 197,106 | |||
Kilroy Realty Corp. | 5,300 | 189,210 | |||
Vornado Realty Trust | 13,900 | 312,472 | |||
1,248,575 |
7
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Oil, Gas & Consumable Fuels 6.8% | |||||
Antero Resources Corp.* | 28,200 | $754,350 | |||
Chesapeake Energy Corp. | 9,700 | 818,098 | |||
Coterra Energy, Inc. | 39,600 | 1,090,584 | |||
Devon Energy Corp. | 26,500 | 1,431,000 | |||
Diamondback Energy, Inc. | 8,400 | 1,237,488 | |||
DT Midstream, Inc. | 12,900 | 690,408 | |||
EQT Corp. | 22,400 | 944,832 | |||
HF Sinclair Corp. | 14,600 | 760,514 | |||
Marathon Oil Corp. | 37,600 | 987,752 | |||
Ovintiv, Inc. | 16,300 | 751,267 | |||
Phillips 66 | 17,400 | 1,940,970 | |||
Range Resources Corp. | 7,200 | 226,296 | |||
Southwestern Energy Co.* | 116,200 | 752,976 | |||
Williams Cos., Inc. (The) | 35,100 | 1,209,195 | |||
13,595,730 | |||||
Passenger Airlines 2.1% | |||||
Alaska Air Group, Inc.* | 15,200 | 739,176 | |||
Delta Air Lines, Inc. | 22,800 | 1,054,728 | |||
Southwest Airlines Co. | 28,200 | 963,312 | |||
United Airlines Holdings, Inc.* | 27,000 | 1,466,370 | |||
4,223,586 | |||||
Pharmaceuticals 2.8% | |||||
Elanco Animal Health, Inc.* | 102,600 | 1,238,382 | |||
Jazz Pharmaceuticals PLC* | 4,200 | 547,764 | |||
Perrigo Co. PLC | 31,800 | 1,165,152 | |||
Royalty Pharma PLC (Class A Stock) | 41,800 | 1,311,684 | |||
Viatris, Inc. | 134,689 | 1,418,275 | |||
5,681,257 | |||||
Professional Services 2.3% | |||||
Clarivate PLC* | 96,300 | 915,813 | |||
Concentrix Corp. | 12,800 | 1,065,472 | |||
Jacobs Solutions, Inc. | 2,500 | 313,525 | |||
Leidos Holdings, Inc. | 4,700 | 439,591 | |||
ManpowerGroup, Inc. | 8,400 | 662,592 | |||
SS&C Technologies Holdings, Inc. | 21,000 | 1,223,250 | |||
4,620,243 |
8
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Real Estate Management & Development 1.1% | |||||
CBRE Group, Inc. (Class A Stock)* | 1,400 | $116,634 | |||
Howard Hughes Corp. (The)* | 9,100 | 768,313 | |||
Jones Lang LaSalle, Inc.* | 7,700 | 1,282,435 | |||
2,167,382 | |||||
Residential REITs 0.3% | |||||
AvalonBay Communities, Inc. | 1,300 | 245,245 | |||
Equity Residential | 2,400 | 158,256 | |||
Essex Property Trust, Inc. | 600 | 146,130 | |||
549,631 | |||||
Retail REITs 2.1% | |||||
Kimco Realty Corp. | 68,161 | 1,380,942 | |||
Realty Income Corp. | 34,713 | 2,116,451 | |||
Spirit Realty Capital, Inc. | 17,900 | 721,907 | |||
4,219,300 | |||||
Semiconductors & Semiconductor Equipment 0.6% | |||||
Marvell Technology, Inc. | 5,800 | 377,754 | |||
MKS Instruments, Inc. | 1,000 | 109,170 | |||
ON Semiconductor Corp.* | 700 | 75,425 | |||
Qorvo, Inc.* | 700 | 77,014 | |||
Skyworks Solutions, Inc. | 5,200 | 594,724 | |||
1,234,087 | |||||
Software 0.2% | |||||
Aspen Technology, Inc.* | 1,900 | 339,150 | |||
Specialized REITs 1.8% | |||||
EPR Properties | 24,700 | 1,102,608 | |||
VICI Properties, Inc. | 55,800 | 1,756,584 | |||
Weyerhaeuser Co. | 21,500 | 732,290 | |||
3,591,482 | |||||
Specialty Retail 1.9% | |||||
Advance Auto Parts, Inc. | 9,000 | 669,510 | |||
CarMax, Inc.* | 1,500 | 123,915 | |||
Lithia Motors, Inc. | 2,700 | 838,431 |
9
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Specialty Retail (cont’d.) | |||||
Penske Automotive Group, Inc. | 6,600 | $1,065,372 | |||
Petco Health & Wellness Co., Inc.* | 123,200 | 1,005,312 | |||
3,702,540 | |||||
Technology Hardware, Storage & Peripherals 1.4% | |||||
Hewlett Packard Enterprise Co. | 96,200 | 1,671,956 | |||
Western Digital Corp.* | 28,400 | 1,208,704 | |||
2,880,660 | |||||
Textiles, Apparel & Luxury Goods 0.6% | |||||
PVH Corp. | 13,700 | 1,228,068 | |||
Trading Companies & Distributors 1.2% | |||||
Air Lease Corp. | 27,600 | 1,168,584 | |||
Ferguson PLC | 300 | 48,486 | |||
United Rentals, Inc. | 2,600 | 1,208,168 | |||
2,425,238 | |||||
Total Common Stocks (cost $168,635,123) | 198,671,506 | ||||
Unaffiliated Exchange-Traded Fund 0.3% | |||||
iShares Russell Mid-Cap Value ETF (cost $593,787) | 5,200 | 596,336 | |||
Total Long-Term Investments (cost $169,228,910) | 199,267,842 | ||||
Short-Term Investments 4.1% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Government Money Market Fund(wi) | 460,028 | 460,028 |
10
PGIM Quant Solutions Mid-Cap Value Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Affiliated Mutual Funds (Continued) | |||||
PGIM Institutional Money Market Fund (cost $7,824,950; includes $7,776,199 of cash collateral for securities on loan)(b)(wi) | 7,837,737 | $7,833,034 | |||
Total Short-Term Investments (cost $8,284,978) | 8,293,062 | ||||
TOTAL INVESTMENTS 104.0% (cost $177,513,888) | 207,560,904 | ||||
Liabilities in excess of other assets (4.0)% | (8,045,476) | ||||
Net Assets 100.0% | $199,515,428 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
ETF—Exchange-Traded Fund | |
NYSE—New York Stock Exchange | |
REITs—Real Estate Investment Trust | |
XLON—London Stock Exchange |
* | Non-income producing security. |
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $7,695,065; cash collateral of $7,776,199 (included in liabilities) was received with which the Fund 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 Fund 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. |
(wi) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Government Money Market Fund and PGIM Institutional Money Market Fund, if applicable. |
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
11