PGIM Jennison Natural Resources Fund
Schedule of Investments as of January 31, 2024 (unaudited)
Description | Shares | Value | |||
Long-Term Investments 99.1% | |||||
Common Stocks | |||||
Agricultural Products 2.1% | |||||
Bunge Global SA | 71,747 | $6,320,193 | |||
Darling Ingredients, Inc.* | 176,635 | 7,648,296 | |||
13,968,489 | |||||
Aluminum 0.6% | |||||
Alcoa Corp. | 133,867 | 3,982,543 | |||
Coal & Consumable Fuels 4.5% | |||||
Cameco Corp. (Canada)(a) | 636,877 | 30,410,877 | |||
Construction & Engineering 0.6% | |||||
Ameresco, Inc. (Class A Stock)*(a) | 194,810 | 3,979,968 | |||
Copper 6.0% | |||||
ERO Copper Corp. (Brazil)* | 879,493 | 13,770,187 | |||
Freeport-McMoRan, Inc. | 226,919 | 9,006,415 | |||
Lundin Mining Corp. (Chile) | 2,168,420 | 17,709,287 | |||
40,485,889 | |||||
Diversified Metals & Mining 11.4% | |||||
BHP Group Ltd. (Australia), ADR(a) | 166,754 | 10,208,680 | |||
Glencore PLC (Australia) | 3,918,159 | 20,730,812 | |||
Hudbay Minerals, Inc. (Canada) | 1,778,512 | 9,881,724 | |||
Ivanhoe Electric, Inc.*(a) | 500,000 | 4,180,000 | |||
Ivanhoe Mines Ltd. (Canada) (Class A Stock)*(a) | 2,488,869 | 26,120,675 | |||
Lifezone Metals Ltd. (United Kingdom)* | 452,817 | 2,721,430 | |||
Solaris Resources, Inc. (Canada)* | 1,036,340 | 2,967,689 | |||
76,811,010 | |||||
Electrical Components & Equipment 1.8% | |||||
Array Technologies, Inc.* | 475,058 | 6,289,768 | |||
Freyr Battery, Inc. (Norway)*(a) | 1,217,356 | 1,643,430 | |||
NEXTracker, Inc. (Class A Stock)* | 94,340 | 4,270,772 | |||
12,203,970 |
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PGIM Jennison Natural Resources Fund
Schedule of Investments as of January 31, 2024 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Fertilizers & Agricultural Chemicals 2.3% | |||||
CF Industries Holdings, Inc. | 89,256 | $6,739,720 | |||
Corteva, Inc. | 195,483 | 8,890,567 | |||
15,630,287 | |||||
Gold 9.3% | |||||
Agnico Eagle Mines Ltd. (Canada) | 490,268 | 24,101,575 | |||
Barrick Gold Corp. (Canada) | 1,385,775 | 21,618,090 | |||
Endeavour Mining PLC (Burkina Faso) | 794,003 | 13,754,569 | |||
Osisko Mining, Inc. (Canada)* | 1,821,975 | 3,279,541 | |||
62,753,775 | |||||
Heavy Electrical Equipment 0.3% | |||||
Alfen N.V. (Netherlands), 144A* | 36,400 | 2,201,238 | |||
Industrial Machinery 1.2% | |||||
Chart Industries, Inc.*(a) | 69,834 | 8,151,024 | |||
Integrated Oil & Gas 10.8% | |||||
Exxon Mobil Corp. | 154,097 | 15,842,713 | |||
Shell PLC (Netherlands), ADR(a) | 547,232 | 34,426,365 | |||
TotalEnergies SE (France), ADR(a) | 341,379 | 22,251,083 | |||
72,520,161 | |||||
Oil & Gas Drilling 1.2% | |||||
Transocean Ltd.*(a) | 1,410,539 | 7,701,543 | |||
Oil & Gas Equipment & Services 17.2% | |||||
Cactus, Inc. (Class A Stock) | 262,224 | 11,128,787 | |||
Expro Group Holdings NV* | 332,015 | 5,843,464 | |||
Halliburton Co. | 400,856 | 14,290,516 | |||
Schlumberger NV | 425,796 | 20,736,265 | |||
Technip Energies NV (France) | 488,621 | 10,114,737 | |||
TechnipFMC PLC (United Kingdom) | 1,572,031 | 30,403,080 | |||
Vallourec SACA (France)* | 371,853 | 5,319,806 | |||
Weatherford International PLC* | 200,260 | 17,933,283 | |||
115,769,938 | |||||
Oil & Gas Exploration & Production 21.6% | |||||
ARC Resources Ltd. (Canada) | 339,161 | 5,267,345 | |||
California Resources Corp. | 93,705 | 4,467,855 | |||
Chesapeake Energy Corp.(a) | 182,676 | 14,086,146 |
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PGIM Jennison Natural Resources Fund
Schedule of Investments as of January 31, 2024 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Oil & Gas Exploration & Production (cont’d.) | |||||
Chord Energy Corp. | 85,636 | $13,167,391 | |||
ConocoPhillips | 201,766 | 22,571,563 | |||
Diamondback Energy, Inc. | 242,468 | 37,277,030 | |||
EQT Corp. | 213,858 | 7,570,573 | |||
Hess Corp. | 101,816 | 14,308,203 | |||
Kosmos Energy Ltd. (Ghana)* | 1,727,871 | 10,470,898 | |||
Permian Resources Corp.(a) | 875,607 | 11,803,182 | |||
Sintana Energy, Inc. (Canada)* | 637,992 | 227,778 | |||
Sintana Energy, Inc. (Canada), Reg D (original cost $20,701,233; purchased 06/03/11)*(f) | 1,304,999 | 465,915 | |||
TXO Partners LP | 175,000 | 3,258,500 | |||
144,942,379 | |||||
Oil & Gas Refining & Marketing 3.2% | |||||
Valero Energy Corp. | 153,704 | 21,349,486 | |||
Oil & Gas Storage & Transportation 4.0% | |||||
Cheniere Energy, Inc. | 151,600 | 24,860,884 | |||
New Fortress Energy, Inc.(a) | 65,782 | 2,185,936 | |||
27,046,820 | |||||
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 | 13,259 | |||
Semiconductor Equipment 0.4% | |||||
Enphase Energy, Inc.* | 26,664 | 2,776,522 | |||
Silver 0.6% | |||||
MAG Silver Corp. (Canada)* | 454,206 | 4,087,837 | |||
Total Long-Term Investments (cost $572,449,764) | 666,787,015 | ||||
Short-Term Investments 16.0% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Government Money Market Fund (7-day effective yield 5.560%)(wb) | 2,212,708 | 2,212,708 |
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PGIM Jennison Natural Resources Fund
Schedule of Investments as of January 31, 2024 (unaudited) (continued)
Description | Shares | Value | |||
Affiliated Mutual Funds (Continued) | |||||
PGIM Institutional Money Market Fund (7-day effective yield 5.727%) (cost $105,666,912; includes $105,224,584 of cash collateral for securities on loan)(b)(wb) | 105,770,864 | $105,739,133 | |||
Total Short-Term Investments (cost $107,879,620) | 107,951,841 | ||||
TOTAL INVESTMENTS 115.1% (cost $680,329,384) | 774,738,856 | ||||
Liabilities in excess of other assets (15.1)% | (101,647,011) | ||||
Net Assets 100.0% | $673,091,845 |
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 | |
LP—Limited Partnership | |
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. |
* | Non-income producing security. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $13,259 and 0.0% of net assets. |
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $99,532,142; cash collateral of $105,224,584 (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 $25,170,376. The aggregate value of $479,174 is 0.1% of net assets. |
(wb) | Represents an investment in a Fund affiliated with the Manager. |
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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