PGIM Jennison Natural Resources Fund
Schedule of Investments as of July 31, 2022 (unaudited)
Description | Shares | Value | |||
Long-Term Investments 98.5% | |||||
Common Stocks 98.1% | |||||
Agricultural Products 2.5% | |||||
Bunge Ltd. | 150,115 | $13,860,118 | |||
Darling Ingredients, Inc.* | 95,872 | 6,642,012 | |||
20,502,130 | |||||
Aluminum 1.0% | |||||
Alcoa Corp. | 88,997 | 4,529,057 | |||
Constellium SE* | 237,373 | 3,472,767 | |||
8,001,824 | |||||
Coal & Consumable Fuels 0.8% | |||||
Cameco Corp. (Canada) | 218,469 | 5,629,946 | |||
Thungela Resources Ltd. (South Africa) | 60,712 | 1,068,062 | |||
6,698,008 | |||||
Construction & Engineering 0.7% | |||||
Ameresco, Inc. (Class A Stock)*(a) | 103,772 | 5,937,834 | |||
Copper 6.3% | |||||
ERO Copper Corp. (Brazil)* | 979,217 | 9,688,555 | |||
First Quantum Minerals Ltd. (Zambia) | 973,999 | 17,798,272 | |||
Freeport-McMoRan, Inc. | 427,165 | 13,477,056 | |||
OZ Minerals Ltd. (Australia) | 822,742 | 10,987,918 | |||
51,951,801 | |||||
Diversified Metals & Mining 5.8% | |||||
Anglo American PLC (South Africa) | 544,262 | 19,672,286 | |||
Glencore PLC (Australia)* | 4,431,953 | 25,118,989 | |||
Hudbay Minerals, Inc. (Canada) | 772,224 | 2,972,992 | |||
47,764,267 | |||||
Electrical Components & Equipment 1.2% | |||||
FREYR Battery SA (Norway)* | 640,000 | 6,387,200 | |||
Generac Holdings, Inc.*(a) | 12,002 | 3,220,137 | |||
9,607,337 |
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PGIM Jennison Natural Resources Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Fertilizers & Agricultural Chemicals 2.1% | |||||
Corteva, Inc. | 148,299 | $8,534,607 | |||
Nutrien Ltd. (Canada) | 106,710 | 9,140,779 | |||
17,675,386 | |||||
Gold 5.1% | |||||
Agnico Eagle Mines Ltd. (Canada)(a) | 284,611 | 12,235,427 | |||
Barrick Gold Corp. (Canada) | 1,055,370 | 16,611,524 | |||
Newmont Corp.(a) | 208,802 | 9,454,554 | |||
Osisko Mining, Inc. (Canada)* | 1,821,975 | 4,040,771 | |||
42,342,276 | |||||
Heavy Electrical Equipment 0.5% | |||||
Alfen Beheer BV (Netherlands), 144A* | 36,400 | 4,249,277 | |||
Industrial Machinery 2.4% | |||||
Chart Industries, Inc.*(a) | 99,855 | 19,480,712 | |||
Integrated Oil & Gas 9.5% | |||||
Chevron Corp. | 159,789 | 26,170,242 | |||
Shell PLC (Netherlands), ADR | 561,589 | 29,977,621 | |||
Suncor Energy, Inc. (Canada) | 278,718 | 9,459,689 | |||
TotalEnergies SE (France), ADR | 246,956 | 12,609,573 | |||
78,217,125 | |||||
Mortgage REITs 0.8% | |||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc.(a) | 172,910 | 6,240,322 | |||
Oil & Gas Drilling 2.2% | |||||
Patterson-UTI Energy, Inc. | 1,113,462 | 18,427,796 | |||
Oil & Gas Equipment & Services 9.6% | |||||
Cactus, Inc. (Class A Stock) | 269,067 | 11,190,497 | |||
Halliburton Co. | 882,995 | 25,871,753 | |||
National Energy Services Reunited Corp.*(a) | 572,118 | 4,033,432 | |||
ProFrac Holding Corp. (Class A Stock)*(a) | 191,000 | 3,510,580 | |||
Schlumberger NV | 761,692 | 28,205,455 | |||
TechnipFMC PLC (United Kingdom)*(a) | 808,627 | 6,541,792 | |||
79,353,509 | |||||
Oil & Gas Exploration & Production 34.6% | |||||
Aker BP ASA (Norway), SDR*(a) | 112,249 | 3,879,317 |
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PGIM Jennison Natural Resources Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Oil & Gas Exploration & Production (cont’d.) | |||||
Chesapeake Energy Corp. | 172,812 | $16,273,706 | |||
Chord Energy Corp.(a) | 44,511 | 5,708,091 | |||
ConocoPhillips | 374,412 | 36,478,961 | |||
Coterra Energy, Inc.(a) | 524,876 | 16,055,957 | |||
Devon Energy Corp. | 527,878 | 33,177,132 | |||
Diamondback Energy, Inc. | 276,043 | 35,339,025 | |||
EQT Corp. | 638,089 | 28,095,059 | |||
Hess Corp.(a) | 362,773 | 40,801,079 | |||
PDC Energy, Inc. | 480,445 | 31,560,432 | |||
Pioneer Natural Resources Co. | 106,959 | 25,343,935 | |||
Sintana Energy, Inc. (Canada)* | 637,992 | 49,822 | |||
Sintana Energy, Inc. (Canada), Reg D* | 1,304,999 | 101,909 | |||
Spartan Delta Corp. (Canada)* | 1,138,019 | 11,828,537 | |||
Woodside Energy Group Ltd. (Australia), ADR(a) | 43,909 | 997,173 | |||
285,690,135 | |||||
Oil & Gas Refining & Marketing 3.7% | |||||
Archaea Energy, Inc.*(a) | 458,343 | 7,507,658 | |||
Valero Energy Corp. | 207,450 | 22,979,237 | |||
30,486,895 | |||||
Oil & Gas Storage & Transportation 3.8% | |||||
Cheniere Energy, Inc. | 208,882 | 31,244,569 | |||
Precious Metals & Minerals 0.0% | |||||
Sedibelo Platinum Mines Ltd. (South Africa) Private Placement (original cost $4,469,143; purchased 11/27/07)*^(f) | 523,100 | 95,555 | |||
Renewable Electricity 1.4% | |||||
Orron Energy AB (Sweden) | 118,036 | 145,721 | |||
Sunnova Energy International, Inc.*(a) | 425,897 | 11,081,840 | |||
11,227,561 | |||||
Semiconductor Equipment 1.8% | |||||
Enphase Energy, Inc.* | 52,810 | 15,007,546 | |||
Silver 0.7% | |||||
MAG Silver Corp. (Canada)* | 412,756 | 5,753,539 | |||
Specialty Chemicals 0.4% | |||||
Livent Corp.*(a) | 134,938 | 3,358,607 |
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PGIM Jennison Natural Resources Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Steel 1.2% | |||||
Steel Dynamics, Inc. | 127,776 | $9,951,195 | |||
Total Common Stocks (cost $526,584,152) | 809,265,206 | ||||
Preferred Stock 0.4% | |||||
Oil & Gas Refining & Marketing | |||||
Raizen SA (Brazil) (PRFC) (cost $6,331,406) | 4,466,764 | 3,815,755 | |||
Total Long-Term Investments (cost $532,915,558) | 813,080,961 | ||||
Short-Term Investments 13.4% | |||||
Affiliated Mutual Fund 11.4% | |||||
PGIM Institutional Money Market Fund (cost $93,601,698; includes $93,443,297 of cash collateral for securities on loan)(b)(we) | 93,726,472 | 93,632,746 | |||
Unaffiliated Fund 2.0% | |||||
Dreyfus Government Cash Management (Institutional Shares) (cost $16,743,617) | 16,743,617 | 16,743,617 | |||
Total Short-Term Investments (cost $110,345,315) | 110,376,363 | ||||
TOTAL INVESTMENTS 111.9% (cost $643,260,873) | 923,457,324 | ||||
Liabilities in excess of other assets (11.9)% | (98,309,412) | ||||
Net Assets 100.0% | $825,147,912 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
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. | |
ADR—American Depositary Receipt | |
PRFC—Preference Shares | |
Reg D—Security was purchased pursuant to Regulation D under the Securities Act of 1933, providing exemption from the registration requirements. Unless otherwise noted, Regulation D securities are deemed to be liquid. | |
REITs—Real Estate Investment Trust | |
SDR—Sweden Depositary Receipt |
* | Non-income producing security. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $95,555 and 0.0% of net assets. |
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PGIM Jennison Natural Resources Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $95,444,137; cash collateral of $93,443,297 (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. |
(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 $4,469,143. The aggregate value of $95,555 is 0.0% of net assets. |
(we) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Institutional Money Market Fund. |
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).
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